Page 59 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Reconciliation of the Governmental Funds
Balance Sheet to the Statement of Net Position

June 30, 2018 Exhibit 3.1

Total fund balances for governmental funds (Exhibit 3) $ 218,599,969
Total net position reported for governmental activities in the statement of net position is di erent because:
Capital assets (net of accumulated depreciation) used in governmental activities are not nancial resources and therefore are
not reported in the funds.
Gross capital assets at historical cost 718,623,440
Accumulated depreciation (241,436,974)

Pension deferrals in the current scal year are deferred out ows of resources on the statement of net position. 31,885,539
Other assets not available to pay for current period expenditures, and therefore are in ows of resources in fund statements. 14,773,397
Internal service funds are used by management to charge the costs of warehouse, eet services, information services,
workers’ compensation, health bene ts, dental and ex bene ts and employee bene ts. The assets and liabilities of the
internal service funds are included in governmental activities in the statement of net position. 8,921,318
Net pension liability (66,396,169)
Net OPEB liability (13,187,759)

Pension related deferrals (7,363,932)
OPEB related deferrals (4,364,865)
Long-term liabilities are not due and payable in the current period and accordingly are not reported as fund liabilities:
Accrued vacation (13,180,687)
Accrued interest (968,173)
Contracts payable (170,412,045)
Bonds payable (198,211,492)
Net position of governmental activities (Exhibit 1) $ 277,281,567

The accompanying notes are an integral part of the nancial statements.

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