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CITY OF SOUTH BEND, INDIANA <br />NOTES TO GENERAL-PURPOSE FINANCIAL STATEMENTS <br />(Continued) <br />The major differences between Budgetary Non-GAAP} basis and GAAP basis are; <br />1 Revenues are recorded when received in cash (budgetary) as opposed to susceptible to <br />accrual (GAAP). <br />2. Expenditures are recorded when paid in cash (budgetary) as opposed to when the liability is <br />incurred (GAAP). <br />3. Encumbrances are recorded as expenditures for budgetary purposes when purchase orders <br />are issued. <br />Adjustments necessary to convert the results of operations at the end of the year on a budgetary <br />basis to a GAAP basis are as follows: <br /> Special Debt Capital <br /> General Revenue Service Pro~ects <br />Excess ~ Deficiency } of <br />Revenues and Other <br />Financing Sources <br />Over Under} Expenditures <br />and Other Financing Uses <br />Budgetary Basis} $1,612,078} $ X3,308,379} $ 577 $ X6,893,653} <br />Adjustments to: <br />Revenues for Accruals 1,084,597 X1,669,118} ~1 } X311,679} <br />Expenditures for Accruals 259,290 X812,849} - 1,543,533 <br />Expenditures for <br />Encumbrances 1,228,245 1,819,752 - 10,032,278 <br />Non-Budgeted Funds Net} - 303,080 1435 719 .1,761; 663 <br />Excess (Deficiency) of <br />Revenues and Other <br />Financing Sources <br />Over (Under) Expenditures <br />and Other Financing Uses <br />(GAAP Basis) $ 960.054 $ (3,667.514) ~ 1.436.295 $ 6.132,142 <br />Expenditures exceeded appropriations in the Coveleski Stadium Capital Fund, capital outlay- <br />other uses account, by $11,110. <br />Note 3. Deposits and Investments <br />Deposits, made in accordance with IC 5-13, with financial institutions in the State of Indiana at year <br />end were entirely insured by the Federal Depository Insurance Corporation or by the Indiana Public <br />Deposit Insurance Fund. This includes any deposit accounts issued ar offered by a qualifying finan- <br />cial institution. <br />22 <br />