7077-R2_NewGloucester_2019_AnnualReport_Web

STA EMENT D STATE NT D

STATEMENT D

STATEMENT D

TOWN OF NEW GLOUCESTER, MAINE RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION JUNE 30, 2019 TOWN OF NEW GLOUCESTER, MAINE RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION JUNE 30, 2019 TOWN OF NEW GLOUCESTER, MAINE RECONC LIATION OF THE GOVERNMENTAL FUNDS BALANCE SH ET TO THE STATEMENT OF NET POS TION JUNE 30, 2019 TOWN OF NEW GLOUCESTER, MAINE RECON ILIATION OF THE GOVERNME TAL FUNDS BAL NCE SHEET TO THE STA EMENT OF NET POSITION JUNE 30, 2019 Total Governm ntal Funds T WN F NEW GLOUCESTE , MAINE ECONCILIAT ON F THE GOVERNMENTAL FUNDS BALA CE SH T T HE STATE NT OF NET POSITI J E 30, 2019 Total Governmental Funds Total Governmental Funds Total Governmental Funds

STATEMENT D

Total Governmental Funds

Total Fund Balances Total Fund Balances

Total Fund Balances Total Fund B lances

8,733,500 $ 8,73 ,50 $

8,733,500 $

8,733,500 $

Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds, net of accumulated depreciation Other long-term assets are not available to pay for current-period expenditures and therefore are deferred in the funds shown above: Taxes and liens receivable Deferred outflows of resources related to pensions are not financial resources and therefore are not reported in the funds Deferred outflows of resources related to OPEB are not financial resources and therefore are not reported in the funds Long-term obligations are not due and payable in the current period and therefore are not reported in the funds: Bond payable Total Fund Balances Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds, net of accumulated depreciation Other long-term assets are not available to pay for current-period expenditures and therefore are deferred in the funds shown above: Taxes and liens receivable Deferred outflows of resources related to pensions are not financial resources and therefore are not reported in the funds Deferred outflows of resources related to OPEB are not financial resources and therefore are not reported in the funds Long-term obligations are not due and payable in the current period and therefore are not reported in the funds: Bond payable Amounts reported for governmental activities in the S atement of Net Position are diff rent because: Capital assets used in governmental activities are not financial resources and th refore are not reported in the funds, net of accumulate depreciation Other long-term assets are not vailable to pay for current-period expenditures and th refore are d ferred in the fund shown above: Taxes and liens receivable D ferred outflows of resources related to pensions are not financial resources and th refore are not reported in the funds D ferred outflows of resources related to OPEB are not financial resources and th refore are not reported in the funds Long-term obligations are not due and payable in the current period and th refore are not reported in the funds: Bond payable Accrued compensated absences Net pension liability Net OPEB liability D ferred inflows of resources related to pensions are not financial resources and th refore are not reported in the funds D ferred inflows of resources related to OPEB are not financial resources and th refore are not reported in the funds Amounts report d for governm ntal activi ies in the Statem nt of Net Position are diff rent b cause: Capital asset u ed in governm ntal activities ar not fi ancial resources and therefore are not report d in the funds, et of accum lated depreciation Other long-term asset are not availab e to pay for current-p riod expenditures and therefore are def rred in the funds shown above: Taxes nd lie s r ceivable Deferr d outflows of resources related to pensions are not fi ancial resources and therefore are not report d in the funds Deferr d outflows of resources relat d to OPEB are not fi ancial resources and therefore are not report d in the funds Long-term obligations are not due and payable in the current p riod and therefore are not report d in the funds: Bond payable Accrued compensated bsences Net pension liab lity Net OPEB liab lity Deferr d inflows of resources relat d to pensions are not fi ancial resources and therefore are not report d in the funds Deferr d inflows of resources relat d to OPEB are not fi ancial resources and therefore are not report d in the funds A ounts reported for g ve nmental activities in the Stat ment of Net Posi i n are dif erent becaus : apital ssets u d in governmental activities are not financial resources and therefo a e not r p rted in he funds, net of accumulated depreciation ther long-term as ets are not available to pay for cu ent-period exp nditures and therefo a e defer ed in the funds shown above: Taxes and liens receivabl efer ed outflows of re ources related o pensio are not financial resources and therefo a e not r p rted in he funds efer ed outflows of re ources related o OPEB are not financial resources and therefo a e not r p rted in he funds Long-term obligations are not due and p yable in th cur ent period and therefo a e not r p rted in he funds: Bond payable Ac rued ompensated absenc et p nsio liabil ty et OPEB liabi ty efer ed inflows of re ources related o pensio are not financial resources and therefo a e not r p rted in he funds efer ed inflows of resources related o OPEB are not financial resources and therefo a e not r p rted in he funds Accrued compensated absences Net pension liability Net OPEB liability Deferred inflows of resources related to pensions are not financial resources and therefore are not reported in the funds Deferred inflows of resources related to OPEB are not financial resources and therefore are not reported in the funds Accrued compensated absences Net pension liability Deferred inflows of resources related to pensions are not financial resources and therefore are not reported in the funds Deferred inflows of resources related to OPEB are not financial resources and therefore are not reported in the funds Net position of governmental activities Net position f governm ntal activities et position of g vernmental activities Net position of governmental activities Net OPEB liability

8,637,912 8,637,912

8,637,912 8,733,500 $ 8,637,912

114,0

114,000

114,00

114, 00

8,637,912 129,933

129,933 129,93

129,933

40,175

40,175

40,175

40,175

114,000

129,933

(4,415,000) (4,415,000) (84,790) (306,617) (156,912) (84,790) (306,617) (156,9 2)

(4,415,000)

(84,790) (306,617) (156,912) ( ,415, 00) (84,790) (30 ,617) (156,912)

40,175

(127,530) (12,701) (4,415,000) (127,530) (84,790) (306,617) (156,912) (12,701)

(127,530) (127,530)

(12,701) (12,70 )

12,551,970 $ 12,5 1,970 $

12,551,970 $

12,551,970 $

(127,530)

(12,701)

Net position of governmental activities

12,551,970 $

See accompanying independent auditors' report and notes to financial statements. 17 See accompanying independent auditors' report and notes to financial s atements. 17 See accompanyi g indep ndent auditors' repo t and notes to fina cial statements. 17 Se ac ompanying depend t audi ors' report and notes o financial statem nts. 17

See accompanying independent auditors' report and notes to financial statements. 17

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