$ 444, ,844 12,538 94,691 3,007 1,328,921

Transcription

1 STATEMENT OF NET POSITION DECEMBER 31, 2015 ASSETS: Cash and cash equivalents Cash and cash equivalents - restricted Certificate of deposit Accounts receivable Loans receivable, net Total assets DEFFERRED OUTFLOWS OF RESOURCES: Deferred pension outflows Deferred pension outflows, contributions subsequent to measurement date Deferred outflows of resources LIABILITIES: Accounts payable Accrued liabilities Unearned revenue Long-term liabilities: Due and payable after one year: Post employment benefits Net pension liability Total liabilities DEFFERRED INFLOWS OF RESOURCES: Deferred pension inflows Deferred inflows of resources NET POSITION: Restricted Un restricted Total net position Governmental Activities $ 444, ,844 94,691 3,007 1,328,921 12,325 43,147 55,472 43,832 21,815 5, ,797 59, ,019 14,775 14,775 1,057,926 (68,327) A1

2 STATEMENT OF ACTIVITIES Functions/Programs: Governmental activities: General activities $ Expenses 607,511 $ Charges for Services Program Revenues 484,469 Operating Contributions $ 96,457 Net (Expense) Revenues and Changes in Net Position $ (26,585) General revenues: Interest income Loan interest income Miscellaneous income Total general revenues Change in net position Net position - beginning of year, as previously stated Restatement of net position - see note 7 Net position - beginning of year, as restated Net position - ending 1,168 7,495 2,100 10,763 (15,822) 1,034,335 (28,914) 1,005,421 A2

3 BALANCE SHEET-GOVERNMENTAL FUNDS DECEMBER 31, 2015 Revolving General Loan Fund ASSETS: Cash and cash equivalents $ 170,664 $ 274,177 Cash and cash equivalents - restricted 773,844 Certificate of deposit Accounts receivable 87,793 6,898 Loans receivable, net 3,007 Total assets $ 270,995 $ 1,057,926 LIABILITIES: Accounts payable $ 43,832 $ Accrued liabilities 21,815 Unearned revenue 5,655 Total liabilities 71,302 FUND BALANCES: Restricted 1,057,926 Assigned Unassigned 187, 155 Total fund balances 199,693 1,057,926 Total $ 444, ,844 94,691 3,007 $ 1,328,921 $ 43,832 21,815 5,655 71,302 1,057, , 155 1,257,619 Total liabilities and fund balances $ 270,995 $ 1,057,926 Amounts reported for governmental activities in the statement of net position are different because: Long-term liabilities, including post employment benefits are not due and payable in the current period and therefore are not reported in the funds Pension liabilities are not due and payable in the current period and therefore are not reported in the funds Deferred outflows and inflows are not assets or liabilities of the current period and therefore are not reported in the funds Net position (248,797) (59,920) 40,697 ====== A3

4 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Revolving General Loan Fund Total REVENUES: Grant revenues: Economic development district program $ 70,000 $ $ 70,000 Department of Transportation 123, ,936 Water quality studies 64,899 64,899 Water resources 26,767 26,767 Growing agriculture industry now contributions 24,852 24,852 Special projects 110, ,041 Planning/Zoning workshops 50, ,176 Member county contributions 96,457 96,457 Interest income 142 1,026 1,168 Interest income on loan repayments 7,495 7,495 Adjustments to allowance for loan recovery 13,798 13,798 Miscellaneous income 2,100 2,100 Total revenues 569,370 22, ,689 EXPENDITURES: Automobile expense Computer software 1,524 1,524 Copying and printing Council member conferences 1,832 1,832 Dues and subscriptions 2,604 2,604 Equipment and maintenance 3,424 3,424 Interest expense Insurance 8,021 8,021 Miscellaneous 3,102 3,102 Office supplies 1,177 1,177 Parking 5,403 5,403 Postage 1,015 1,015 Professional services 16,948 16,948 Program training 18,434 18,434 Salaries and benefits 483, ,879 Telephone 6,880 6,880 Travel and meetings 3,700 3,700 Total expenditures 559, ,809 Excess of revenues over expenditures 10,053 21,827 31,880 OTHER FINANCING SOURCES (USES): lnterfund transfer in 4,005 4,005 lnterfund transfer out (4,005) (4,005) Total other financing sources (uses) 4,005 (4,005) Net change in fund balances 14,058 17,822 31,880 Fund balances - beginning 185,635 1,040,104 1,225,739 Fund balances - ending $ 199,693 $ 1,057,926 $ 1,257,619 A4

5 RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES Net change in fund balances - total governmental funds $ 31,880 Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures. However in the statement of activities, the cost of those assets are allocated over their estimated useful lives as depreciation expense. This is the amount of depreciation expense ($646) in the current period. Decrease in the proportionate share of net pension liability reported in the Statement of Net position does not provide for or require the use of current financial resources and therefore is not reported as expenditures in the governmental funds. Increase in the proportionate share of the net deferred inflows and outflows reported in the Statement of Net Position of the difference during the measurement period between the G/FLRPC's contributions and its proportionate share to the total contributions to the pension systems subsequent to the measurement date do not provide for or require the use of current financial resources and therefore are not reported as expenditures in the governmental funds. On the statement of activities the actual and projected long term expenditures for post employment benefits are reported whereas on the governmental funds only the actual expenditures are recorded for post employment benefits. Change in net position of governmental activities (646) 20,232 (10,541) (56,747) $ ===(1=5,=82=2=) AS