7998-R1_ML&P_Hollis_2020-2021_AnnualReport_Web

STATEMENT A (CONTINUED)

TOWN OF HOLLIS, MAINE RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2021 TOWN OF HOLLIS, MAINE STATEMENT OF NET POSITION JUNE 30, 2021 Governmental Activities TOWN OF HOLLIS, MAINE RECONCILIATION OF THE STATEM NT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2021 LIABILITIES Net change in fund balances - total governmental funds (Statement E) Accounts payable Net change in fund balances - total governmental funds (Statement E) Amounts reported for governmental activities in the Statement of Activities (Statement B) are different because: Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense allocated to those expenditures over the life of the assets: Capital asset acquisitions Current portion of long-term obligations Total current liabilities Noncurrent liabilities: Noncurrent portion of long-term obligations: Bond payable Net OPEB liability rnmental activities in the Statement of Activities (Statement B) are different because: Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense allocated to those expenditures over the life of the assets: Capital asset acquisitions Capital assets disposals net Deferred outflows of resources are a consumption of net position by the government that are applicable to a future reporting period and therefore are not reported in the funds: OPEB Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds: Taxes and liens receivable Repayment of long-term debt principal is an expenditure in the governmental funds, but the repayment reduces long-term obligations in the Statement of Net Position. Deferred inflows of resources are an acquisition of net position by the government that are applicable to a future reporting period and therefore are not reported in the funds: OPEB Some expenses reported in the Statement of Activities do not require the use of current resources and therefore are not reported as expenditures in governmental funds: Net OPEB liability Deferred revenue Deferred inflows related to OPEB TOTAL DEFERRED INFLOWS OF RESOURCES NET POSITION Net i vestment in capital assets Restricted Unrestricted TOTAL NET POSITION TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION Deferred outflows of resources are a consumption of net position by the government that are applicable to a future reporting period and therefore are not repo t d in the funds: OPEB Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds: Taxes and liens receivable Repayment of long-term debt principal is an expenditure in the governmental funds, but the repayment reduces long-term obligations in the Statement of Net Position. Deferred inflows of resources are an acquisition of net position by the government that are applicable to a future reporting period and therefore are not reported in the funds: OPEB Some expenses reported in the Statement of Activities do not require the use of current resources and therefore are not reported as expenditures in governmental funds: Net OPEB liability Accrued expenses Due to other governments DEFERRED INFLOWS OF RESOURCES Prepaid taxes Amounts reported for Capital assets disposals net Depreciation expense Total noncurrent liabilities TOTAL LIABILITIES Depreciation expense Current liabilities: $ 11,208 14,768 300,000 353,651 2,100,000 100,074 2,200,074 2,553,725 8,831 51,584 23,977 84,392 7,851,387 6,034,880 4,397,786 18,284,053 20,922,170 $

STATEMENT F

STATEMENT F

1,629,900 $

1,629,900 $ 27,675

58 ,810 (121,792) (551,554) (92,536)

580,810 (121,792) (551,554) (92,536)

2,682

2,682

(89,863)

(89,863)

300,000

300,000

4,391

4,391

(19,902) (19,902)

(19,902) (19,902)

Change in net position of governmental activities (Statement B) Change in net position of governmental activities (Statement B)

1,734,672 $

1,734,672 $

92 See accompanying independent auditors' report and notes to financial statements. 19 See accompanying independent auditors' report and notes to financial statements. 13 See accompanying independent auditors' report and notes to financial statements. 19