FINANCIAL STATEMENTS (2020)
Daytona Beach Community Redevelopment Agency Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balance of Governmental Fund to the Statement of Activities
For the year ended September 30, 2020
Net change in fund balance ‐ total governmental fund
$ 1,975,017
Amounts reported for governmental activities in the statement of activities are different because: The issuance of long ‐ term debt provides current financial resources to governmental funds, while the repayment of the principal of long ‐ term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. This amount is the net effect of these differences in the treatment of long ‐ term debt and related items, such as principal paid. Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds. Amortization of prepaid bond insurance costs
1,813,546
(8,278) (59,265)
Amortization of deferred amount on refunding
Amortization of bond premium
6,902
(60,641)
Change in net position of governmental activities
$ 3,727,922
The accompanying notes are an integral part of this financial statement. ‐ 21 ‐
DaytonaBeach.gov/Redevelopment
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