Nonmajor Governmental Funds

Transcription

1 Nonmajor Governmental Funds Special Revenue Funds Special revenue funds are used to account for specific revenues that are legally restricted to expenditures for particular purposes. Special Programs Fund to account for grants and contributions, the use of which is restricted for certain programs. Community Redevelopment Agency Fund to account for receipt, custody, and expenditure of property tax increment funds associated with related redevelopment projects. Local Housing Assistance SHIP Trust Fund to account for monies allocated to the City under the State Local Housing Assistance SHIP grant program. Pinellas County Local Housing Assistance Trust Fund to account for monies allocated to the City under the Pinellas County Local Housing Assistance grant program. 85

2 Debt Service Funds Debt service funds provide separate accounting records for all debt interest, principal, and reserve requirements for general government long-term. Debt of proprietary funds is serviced through restricted accounts maintained within the individual enterprise or internal service fund associated with the debt. Improvement Revenue Refunding Bonds Debt Service Fund - to account for the advance monthly accumulation of resources by transfer of public service tax and communications services tax revenues from the General Fund and the payment of currently maturing installments of principal and interest during each fiscal year. Beachwalk Improvement Revenue Bonds Debt Service Fund - to account for the advance monthly accumulation of resources by transfer of public service tax and communications services tax revenues from the General Fund and the payment of currently maturing installments of principal and interest during each fiscal year. Infrastructure Sales Tax Revenue Bonds Debt Service Fund - to account for the advance monthly accumulation of resources by transfer of sales tax revenues from the Special Development Special Revenue Fund and the payment of currently maturing installments of principal and interest during each fiscal year. Notes and Mortgages Debt Service Fund - to account for the advance monthly accumulation of resources by transfer of General Revenues from the General and Special Revenue Funds and the payment of currently maturing installments of principal and interest on the various note and mortgage obligations of the governmental funds during each fiscal year. Spring Training Facility Revenue Bonds Debt Service Fund to account for the advance monthly accumulation of resources received from the State of Florida and Pinellas County, and the payment of currently maturing installments of principal and interest each year. 86

3 Capital Projects Funds Capital projects funds are used to account for resources to be used for the acquisition or construction of major capital improvement projects, other than those financed by proprietary funds. A major capital improvement project is a property acquisition, a major construction undertaking, or a major improvement to an existing facility or property, with a cost greater than $25,000 and a minimum useful life of at least five years. Community Redevelopment Agency Capital Projects Fund to provide separate accounting records for the acquisition or construction of capital improvement projects for the Clearwater Community Redevelopment Agency. 87

4 Combining Balance Sheet Nonmajor Governmental Funds September 30, 2010 Special Revenue Funds SHIP Pinellas County Community Local Housing Local Housing Special Redevelopment Assistance Assistance Programs Agency Trust Trust Total ASSETS Cash and investments $ 12,415,815 $ 659,562 $ 163,441 $ 665,765 $ 13,904,583 Receivables: Accrued interest 67,742 46,686 5,569 5, ,151 Mortgage notes 6,708,626-7,243, ,700 14,921,608 Rehab advances 10,601-1,276-11,877 Other 174,456 31,393 39, ,192 Investments Due from other governments - grants 1,141, ,141,591 Land held for resale 84,701 1,914, ,998,751 Prepaid items Advances to other funds 648, ,827 Total assets $ 21,252,359 $ 2,651,691 $ 7,452,911 $ 1,640,619 $ 32,997,580 LIABILITIES Accounts and contracts payable $ 626,574 $ 1,662 $ 23,236 $ 745 $ 652,217 Accrued payroll 93, ,574 Due to other governmental entities 26 48, ,026 Construction escrows 11,516-6, , ,414 Due to other funds (deficit in pooled cash) Advances from other funds - 648, ,827 Deferred revenue - 31, ,393 Total liabilities 731, ,882 29, ,972 1,654,451 FUND BALANCES Reserved for: Encumbrances - 7, ,759 Interfund and notes receivable 7,357,453-7,243, ,700 15,570,435 Grant programs 2,999, ,999,587 Land held for resale 84,701 1,914, ,998,751 Debt service: Current requirements - principal Current requirements - interest Future requirements Unreserved, reported in: Special revenue funds 10,078, , ,947 10,766,597 Debt service funds Capital projects funds Total fund balances 20,520,669 1,921,809 7,423,004 1,477,647 31,343,129 Total liabilities and fund balances $ 21,252,359 $ 2,651,691 $ 7,452,911 $ 1,640,619 $ 32,997,580 The notes to the financial statements are an integral part of this statement. 88

5 Debt Service Funds Capital Spring Project Improvement Training Fund Total Revenue Notes Facility Community Nonmajor Refunding and Revenue Redevelopment Governmental Bonds Mortgages Bonds Total Agency Funds $ 7,838,012 $ - $ 516,066 $ 8,354,078 $ 6,417,472 $ 28,676,133 23,230-3,028 26, , ,921, , , , , , ,141, ,998,751-32,512-32,512-32, ,827 $ 8,749,569 $ 32,512 $ 519,094 $ 9,301,175 $ 6,417,472 $ 48,716,227 $ - $ - $ - $ - $ 56,771 $ 708, , , ,414-32,512-32,512-32, , ,393-32,512-32,512 56,771 1,743, , ,570, ,999, ,998, , , , ,501 69,685-44, , , , , , ,766,597 7,572, ,659 7,725,876-7,725, ,360,701 6,360,701 8,749, ,094 9,268,663 6,360,701 46,972,493 $ 8,749,569 $ 32,512 $ 519,094 $ 9,301,175 $ 6,417,472 $ 48,716,227 89

6 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds For the Year Ended September 30, 2010 Special Revenue Funds REVENUES SHIP Pinellas County Community Local Housing Local Housing Special Redevelopment Assistance Assistance Programs Agency Trust Trust Total Intergovernmental: Federal $ 3,070,345 $ - $ - $ - $ 3,070,345 State 218,333-39, ,703 Local 195,767 1,322, ,518,448 Charges for services 1,277, ,277,005 Fines and forfeitures 499, ,498 Investment earnings 482, ,299-33, ,739 Miscellaneous 653,737 67,627 12, ,471 Total revenues: 6,397,224 1,648,607 51,477 33,901 8,131,209 EXPENDITURES Current: General government 3,067, ,067,827 Public safety 2,425, ,425,600 Physical environment 446, ,748 Economic environment 775, , ,447 68,004 1,289,916 Human services 100, ,200 Culture and recreation 1,283, ,283,194 Debt service: Principal Interest & fiscal charges ,297-46,297 Capital outlay 1,088, ,088,802 Total expenditures 9,188, , ,744 68,004 9,748,584 Excess (deficiency) of revenues over / (under) expenditures (2,791,063) 1,416,058 (208,267) (34,103) (1,617,375) OTHER FINANCING SOURCES (USES) Transfers in 5,542,236 1,829, ,371,241 Transfers out (532,831) (3,237,304) (870,530) (210,913) (4,851,578) Total other financing sources (uses) 5,009,405 (1,408,299) (870,530) (210,913) 2,519,663 Net change in fund balances 2,218,342 7,759 (1,078,797) (245,016) 902,288 Fund balances - beginning 18,302,327 1,914,050 8,501,801 1,722,663 30,440,841 Fund balances - ending $ 20,520,669 $ 1,921,809 $ 7,423,004 $ 1,477,647 $ 31,343,129 The notes to the financial statements are an integral part of this statement. 90

7 Debt Service Funds Spring Project Improvement Beachwalk Infrastructure Training Fund Total Revenue Improvement Sales Tax Notes Facility Community Nonmajor Refunding Revenue Revenue and Revenue Redevelopment Governmental Bonds Bonds Bonds Mortgages Bonds Total Agency Funds Capital $ - $ - $ - $ - $ - $ - $ - $ 3,070, , , , , ,650-2,106, ,277, , , ,507-16, ,333-1,021, , , ,507-1,104,545 1,333,987-9,465, ,068, ,425, , ,769 1,851, , ,283, ,000 3,650,000 6,620, , ,000 11,669,969-11,669, , , ,700 42, ,155 1,292,556-1,338, ,820 2,052, ,941 3,799,130 6,752, ,250 1,074,155 12,963,176 1,525,589 24,237,349 (584,854) (3,798,282) (6,719,193) (557,250) 30,390 (11,629,189) (1,525,589) (14,772,153) 8,162,576 3,749,100 1,114, ,250-13,583,186 2,927,705 23,882, (770,197) (5,621,775) 8,162,576 3,749,100 1,114, ,250-13,583,186 2,157,508 18,260,357 7,577,722 (49,182) (5,604,933) - 30,390 1,953, ,919 3,488,204 1,171,847 49,182 5,604, ,704 7,314,666 5,728,782 43,484,289 $ 8,749,569 $ - $ - $ - $ 519,094 $ 9,268,663 $ 6,360,701 $ 46,972,493 91

8 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual (GAAP Basis) Community Redevelopment Agency For the Year Ended September 30, 2010 Variance with Budgeted Amounts Final Budget Actual Positive Original Final Amounts (Negative) REVENUES Intergovernmental - Local $ 1,352,719 $ 1,322,680 $ 1,322,681 $ 1 Investment earnings 30, , ,299 58,299 Miscellaneous 67,627 67,627 67,627 - Total revenues 1,450,346 1,590,307 1,648,607 58,300 EXPENDITURES Current - Economic environment 326, , ,549 91,440 Total expenditures 326, , ,549 91,440 Excess of revenues over expenditures 1,124,079 1,266,318 1,416, ,740 OTHER FINANCING SOURCES (USES) Transfers in 1,217,557 1,777,832 1,829,005 51,173 Transfers out (2,341,636) (3,044,150) (3,237,304) (193,154) Total other financing sources (uses) (1,124,079) (1,266,318) (1,408,299) (141,981) Excess of revenues and other sources over expenditures and other uses - - 7,759 7,759 Fund balances - beginning 1,914,050 1,914,050 1,914,050 - Fund balances - ending $ 1,914,050 $ 1,914,050 $ 1,921,809 $ 7,759 The notes to the financial statements are an integral part of this statement. 93

9 Nonmajor Enterprise Funds Enterprise funds are used to account for the financing, acquisition, operation, and maintenance of governmental facilities that are supported primarily by user charges. Recycling Utility Fund to account for the financing, processing, operation and maintenance of the City's recycling service from charges made to users of the services and funds received from the sale of recyclable commodities processed to meet market requirements. The service area extends beyond the City limits Marine Operations Fund - to account for the financing, operation, and maintenance of the City s marine operations (excluding the downtown boat slips) and associated real property from rents collected from users. Aviation Operations Fund - to account for the financing, operation, and maintenance of the City s airpark operations from rents collected from users. Parking System Fund - to account for the financing, construction, operation and maintenance of the City's parking system, including on- and off-street parking on Clearwater Beach and Downtown Clearwater, from parking charges. Harborview Center Fund - to account for the operation of the City s convention center and related facilities. Clearwater Harbor Marina Fund - to account for the financing, operation, and maintenance of the City s downtown boat slips from boat slip rentals. 95

10 Combining Statement of Net Assets Nonmajor Enterprise Funds September 30, 2010 Utility Operations ASSETS Current assets: Cash and investments $ 4,489,109 $ 130,905 Accrued interest receivable 27, Accounts and contracts receivable: Billed 81,232 - Unbilled charges estimated 144, ,143 - Less: Allowance for uncollectable accounts (2,665) - Total receivables, net 223,478 - Due from other governmental entities - - Inventories, at cost - 32,710 Prepaid expenses and other assets 10,313 - Total current assets 4,750, ,831 Noncurrent assets: Net pension asset 103,588 62,411 Capital assets: Land and other nondepreciable assets - 670,086 Capital assets, net of accumulated depreciation 622, ,553 Total noncurrent assets 726,275 1,310,050 Total assets 5,476,527 1,473,881 LIABILITIES Current liabilities: Accounts and contracts payable 18,034 26,369 Accrued payroll 40,124 33,560 Deposits - 19,957 Unearned revenue and liens - - Current portion of long-term liabilities: Compensated absences 33,369 49,936 Notes, loan pool agreement and acquisition contracts 61,015 - Advances from other funds - - Total current liabilities 152, ,822 Noncurrent liabilities: Compensated absences 17,763 26,581 Other postemployment benefits 66,324 50,873 Notes, loan pool agreement and acquisition contracts 108,701 - Advances from other funds - - Total non-current liabilities 192,788 77,454 Total liabilities 345, ,276 Net assets: Invested in capital assets, net of related debt 452,971 1,247,639 Unrestricted 4,678,226 18,966 Total net assets $ 5,131,197 $ 1,266,605 Recycling Marine The notes to the financial statements are an integral part of this statement. 96

11 Aviation Parking Harborview Clearwater Operations System Center Harbor Marina Total $ 318,353 $ 14,865,653 $ 755,408 $ 432,075 $ 20,991,503 2,051 99,556 3,997 28, , , , , (2,665) , , ,305,162 1,441, , , ,860 14,965, ,838 1,766,057 22,862,047 2,788 34, ,233 1,410, , ,000-3,999,068 1,767,050 3,024,354 5,528,532 12,772,467 24,292,643 3,180,738 4,050,882 6,454,532 12,772,467 28,494,944 3,637,598 19,016,091 7,214,370 14,538,524 51,356,991 35,336 20, , ,249 1,026,912 2,279 50,154-8, ,139-1,842-17,500 39,299-1, ,017 2,267 57,659-4, , ,015 20, ,271 60, , , ,199 1,430,312 1,206 30,692-2,357 78,599 4,152 94,021-16, , ,701 81, ,086 86, ,713-19, , , , , ,216 1,930,728 3,177,950 4,016,436 6,454,532 12,772,467 28,121, ,051 14,743, , ,841 21,304,268 $ 3,491,001 $ 18,760,428 $ 7,107,724 $ 13,669,308 $ 49,426,263 97

12 Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets Nonmajor Enterprise Funds For the Year Ended September 30, 2010 Operating revenues: Recycling Utility Marine Operations Sales to customers $ 1,174,564 $ 2,566,807 Service charges to customers 7,435 - User charges to customers 1,513, ,974 Rentals - 1,265,463 Total operating revenues 2,695,561 3,951,244 Operating expenses: Personal services 1,178, ,718 Purchases for resale 263,983 2,046,010 Operating materials and supplies 84,394 40,675 Transportation 364,768 17,334 Utility service 10, ,420 Depreciation 159, ,025 Interfund administrative charges 590, ,480 Other current charges: Professional fees 3,716 29,986 Advertising 12,508 11,756 Communications 7,200 19,856 Printing and binding Insurance 29,870 33,020 Repairs and maintenance 10,700 72,311 Rentals - 1,560 Miscellaneous 10,902 95,946 Data processing charges 37,220 32,010 Taxes - 3,615 Total other current charges 112, ,060 Total operating expenses 2,765,171 3,877,722 Operating income (loss) (69,610) 73,522 Nonoperating revenues (expenses): Investment earnings 147,891 1,851 Interest expense (7,036) - Amortization of bond issue costs - - Gain on exchange of capital assets - - Loss on exchange of capital assets - - Other 83, ,107 Total nonoperating revenue (expenses) 223, ,958 Income (loss) before contributions and transfers 154, ,480 Capital grants and contributions - - Transfers in - - Transfers out (237,570) (255,180) Changes in net assets (83,204) (66,700) Total net assets - beginning 5,214,401 1,333,305 Total net assets - ending $ 5,131,197 $ 1,266,605 The notes to the financial statements are an integral part of this statement. 98

13 Aviation Parking Harborview Clearwater Operations System Center Harbor Marina Totals $ 7,751 $ - $ - $ - $ 3,749, ,435-4,342, ,974, ,262 1, ,021 43,938 1,968, ,013 4,343, ,021 43,938 11,700,114 49,854 1,369,661-81,130 3,577, ,064-2,420,057 24,029 63,978 8,781 26, , ,570 5, ,013 39,608 63, ,049 9, , , , ,676-1,288,184 20, ,970 4,310-1,759,675 9, , , , ,369 7,693 33, ,688 7,971 1,153 54, ,676 30,830 56,050 9, ,881 4, ,365 16, , , ,285 3, ,663 5,905 1, ,798 2,260 35,670 10,160 5, , ,951-54,566 50,873 1,442, ,744 16,053 2,275, ,836 4,236,412 1,105, ,625 12,502,802 (127,823) 106,925 (696,015) (89,687) (802,688) 11, ,446 22, , ,927 (2,753) (68,933) - (300,645) (379,367) (38,726) (38,726) , , (8,383) - (8,383) 75,025 14,466 30,730 53, ,977 83, , ,789 (144,325) 925,074 (44,126) 589,904 (532,226) (234,012) 122, ,045 5,860-2,305,162 2,470, ,663 71,530 4,570,853 4,875,046 (12,490) (412,285) - (4,638,449) (5,555,974) 102, ,142 (460,696) 2,003,554 1,911,525 3,388,572 18,344,286 7,568,420 11,665,754 47,514,738 $ 3,491,001 $ 18,760,428 $ 7,107,724 $ 13,669,308 $ 49,426,263 99

14 Combining Statement of Cash Flows Nonmajor Enterprise Funds For the Year Ended September 30, 2010 Recycling Utility Marine Operations CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers $ 2,662,838 $ 3,952,206 Cash payments to suppliers (433,370) (2,768,568) Cash payments to employees (1,088,414) (866,371) Cash payments to other funds (992,628) (102,220) Other revenues 83, ,107 Net cash provided (used) by operating activities 231, ,154 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in from other funds - - Transfers out to other funds (237,570) (255,180) Payment of cash on loans to/from other funds - - Net cash provided (used) by noncapital financing activities (237,570) (255,180) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Principal payments on debt (80,551) - Interest paid (6,778) - Acquisition of capital assets (155,940) - Sale of capital assets - - Capital contributed by other governmental entities - - Net cash provided (used) by capital and related financing activities (243,269) - CASH FLOWS FROM INVESTING ACTIVITIES Interest on investments 154,223 1,635 Net cash provided by investing activities 154,223 1,635 Net increase (decrease) in cash and cash equivalents (95,069) 74,609 Cash and cash equivalents at beginning of year 4,584,178 56,296 Cash and cash equivalents at end of year $ 4,489,109 $ 130,905 Cash and cash equivalents classified as: Cash and investments $ 4,489,109 $ 130,905 Restricted cash and investments - - Total cash and cash equivalents $ 4,489,109 $ 130,905 The notes to the financial statements are an integral part of this statement. 100

15 Aviation Parking Harborview Clearwater Operations System Center Harbor Marina Totals $ 257,013 $ 4,326,948 $ 351,033 $ 51,410 $ 11,601,448 (316,533) (1,481,815) (755,061) (242,806) (5,998,153) (53,965) (1,222,376) - (49,663) (3,280,789) (54,164) (1,094,968) (39,995) (6,956) (2,290,931) 75,025 14,466 30,730 53, ,977 (92,624) 542,255 (413,293) (194,487) 401, ,530 4,570,853 4,642,383 (12,490) (412,285) - (4,638,449) (5,555,974) - (4,000,000) - - (4,000,000) (12,490) (4,412,285) 71,530 (67,596) (4,913,591) - (3,684) - (9,135,000) (9,219,235) (2,753) (68,933) - (371,592) (450,056) (15,753) - - (4,890,269) (5,061,962) - 170, , , , ,788 90,282 97, ,567 (14,396,861) (14,295,735) 11, ,434 22, , ,287 11, ,434 22, , ,287 (3,381) (3,211,050) (163,037) (14,482,559) (17,880,487) 321,734 18,076, ,445 14,914,634 38,871,990 $ 318,353 $ 14,865,653 $ 755,408 $ 432,075 $ 20,991,503 $ 318,353 $ 14,865,653 $ 755,408 $ 432,075 $ 20,991, $ 318,353 $ 14,865,653 $ 755,408 $ 432,075 $ 2 0,991,

16 Combining Statement of Cash Flows Nonmajor Enterprise Funds For the Year Ended September 30, 2010 Recycling Utility Marine Operations Reconciliation of operating income (loss) to net cash provided (used) by operating activities: Operating income (loss) $ (69,610) $ 73,522 Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities: Other nonoperating revenue 83, ,107 Depreciation 159, ,025 Change in assets and liabilities: (Increase) decrease in accounts receivable (32,723) - (Increase) decrease in inventory (Increase) decrease in prepaid expenses - - Increase (decrease) in accounts and contracts payable 1,334 1,777 Increase (decrease) in deposits Increase (decrease) in unearned revenue - - (Increase) decrease in net pension asset 68,782 39,264 Increase (decrease) in accrued payroll 575 (20,966) Increase (decrease) in other postemployment benefits 21,045 13,048 Total adjustments 301, ,632 Net cash provided (used) by operating activities $ 231,547 $ 328,154 Noncash investing, capital and financing activities: Amortization of bond issuance costs $ - $ - Capital assets transferred from General Government $ - $ - 102

17 Aviation Parking Harborview Clearwater Operations System Center Harbor Marina Totals $ (127,823) $ 106,925 $ (696,015) $ (89,687) $ (802,688) 75,025 14,466 30,730 53, , , , ,676-1,288, ,188 - (21,535) ,967-23, ,980-21,980 (235,556) (10,651) (256,643) (197,267) (697,006) (69,176) 7,472 (60,374) - (16,756) - - (16,756) 2,627 59, ,399 (7,265) 35,383-14,807 22, ,176-16, ,456 35, , ,722 (104,800) 1,204,240 $ (92,624) $ 542,255 $ (413,293) $ (194,487) $ 401,552 $ - $ - $ - $ (38,727) $ (38,727) $ - $ - $ - $ 1,000,000 $ 1,000,

18 Internal Service Funds Internal service funds are used to account for services and commodities furnished by a designated department to other departments within the City or to other governments on a cost reimbursement basis. Garage Fund - to account for the cost of automotive and other motorized equipment of the City. The acquisition cost of new or upgraded equipment is financed through user departments and the asset value is simultaneously contributed to the Garage Fund. The cost of replacement of existing equipment is financed by the Garage Fund. Administrative Services Fund - to account for various support activities including information technology, printing, mailing, and telephone services. The cost for these services is charged to user departments based on the cost of providing units of service. General Services Fund - to account for various support activities including building maintenance and custodial services for all City departments and facilities. The cost for these services is charged to user departments based on the cost of providing units of service. Central Insurance Fund - to account for the City's limited self-insurance program wherein all funds are assessed charges based on damage claims incurred and on management's assessment of individual funds' risk exposure. All claims and premiums are paid out of this fund, together with other costs necessary to administer the program. Medical insurance premiums are also paid from this fund. 105

19 Combining Statement of Net Assets Internal Service Funds September 30, 2010 Administrative General Central Garage Services Services Insurance Total ASSETS Current assets: Cash and investments $ 5,189,200 $ 6,698,751 $ 1,495,105 $ 37,819,708 $ 51,202,764 Accrued interest receivable 29,135 39,964 8, , ,873 Due from other funds , ,925 Inventories, at cost 459, ,884 Prepaid expenses and other assets 228,015 9,847-1,011,819 1,249,681 Total current assets 5,906,234 6,748,562 1,503,203 39,168,128 53,326,127 Noncurrent assets: Advances to other funds , ,007 Net pension asset 138, ,477 53,433 18, ,585 Capital assets: Land and other nondepreciable assets 729, ,591 Capital assets, net of accumulated depreciation 9,804,894 3,915,302 87,732 4,159 13,812,087 Total noncurrent assets 10,672,572 4,262, , ,754 15,730,270 Total assets 16,578,806 11,011,341 1,644,368 39,821,882 69,056,397 LIABILITIES Current liabilities: Accounts and contracts payable 262,366 88,929 67,109 1,136,668 1,555,072 Accrued payroll 94, , ,862 19, ,094 Unearned revenue 765, ,667 Current portion of long-term liabilities: Compensated absences 121, , ,731 43, ,746 Notes, loan pool agreement and acquisition contracts 2,696, ,346 12,710-2,836,496 Advances from other funds - 91, ,654 Claims payable ,988,300 1,988,300 Total current liabilities (payable from current assets) 3,939, , ,412 3,187,880 8,198,029 Noncurrent liabilities: Compensated absences 64, ,576 60,539 23, ,807 Other postemployment benefits 130, , ,329 23, ,496 Notes, loan pool agreement and acquisition contracts 4,277, , ,544,934 Advances from other funds - 549, ,921 Claims payable ,106,700 6,106,700 Total noncurrent liabilities 4,472,721 1,209, ,868 6,153,754 12,031,858 Total liabilities 8,412,428 1,985, ,280 9,341,634 20,229,887 NET ASSETS Invested in capital assets, net of related debt 3,560,631 3,520,436 75,022 4,159 7,160,248 - Unrestricted 4,605,747 5,505,360 1,079,066 30,476,089 41,666,262 Total net assets $ 8,166,378 $ 9,025,796 $ 1,154,088 $ 30,480,248 $ 48,826,510 The notes to the financial statements are an integral part of this statement. 106

20 Combining Statement of Revenue, Expenses, and Changes in Fund Net Assets Internal Service Funds For the Year Ended September 30, 2010 Operating revenues Administrative General Central Garage Services Services Insurance Total Billings to departments $ 11,385,492 $ 9,036,004 $ 4,959,120 $ 16,691,655 $ 42,072,271 Operating expenses: Personal services 2,740,174 4,912,316 2,779, ,691 10,980,091 Purchases for resale 3,890, ,890,883 Operating materials and supplies 151,063 60, ,342 3, ,485 Transportation , ,443 2, ,464 Utility service 128, , ,613 Depreciation 3,839, ,650 18,455 2,980 4,752,162 Interfund administrative charges 221,007 4, ,007 Other current charges: Professional fees 319, ,310-44, ,580 Communications 15,773 1,017,515 33,875 3,792 1,070,955 Printing and binding - 16, ,874 Insurance Premiums 32,600 23,850 36,140 12,326,846 12,419,436 Claims incurred ,189,997 2,189,997 Repairs and maintenance 546,729 1,011, ,414 14,370 2,434,395 Rentals 2, ,919 9, ,029 Miscellaneous 17, ,295 24,719 79, ,763 Data processing charges 128, ,010 88,780 12, ,640 Taxes 7, ,021 Total other current charges 1,070,000 2,898,585 1,054,212 14,671,893 19,694,690 Total operating expenses 12,040,685 8,855,724 4,915,943 15,229,043 41,041,395 Operating income (loss) (655,193) 180,280 43,177 1,462,612 1,030,876 Nonoperating revenues (expenses) Investment earnings 161, ,528 45,162 1,271,779 1,699,047 Interest expense (241,752) (34,785) (1,182) - (277,719) Gain on sale of capital assets 278, ,065 Loss on disposal of capital assets - (12,408) - - (12,408) Other 171,500-2,656 3, ,178 Total nonoperating revenue (expenses) 369, ,335 46,636 1,274,801 1,864,163 Income (loss) before contributions and transfers (285,802) 353,615 89,813 2,737,413 2,895,039 Capital grants and contributions - 15, ,000 Transfers in 53, ,745,260 4,799,020 Transfers out (70,000) (100,000) (2,500) (4,720,000) (4,892,500) Change in net assets (302,042) 268,615 87,313 2,762,673 2,816,559 Total net assets - beginning 8,468,420 8,757,181 1,066,775 27,717,575 46,009,951 Total net assets - ending $ 8,166,378 $ 9,025,796 $ 1,154,088 $ 30,480,248 $ 48,826,510 The notes to the financial statements are an integral part of this statement. 107

21 Combining Statement of Cash Flows Internal Service Funds For the Year Ended September 30, 2010 Administrative General Central Garage Services Services Insurance Total CASH FLOWS FROM OPERATING ACTIVITIES Cash received from other funds $ 11,385,492 $ 9,036,004 $ 4,959,120 $ 16,691,655 $ 42,072,271 Cash payments to suppliers (4,905,463) (2,477,565) (1,762,979) (13,191,626) (22,337,633) Cash payments to employees (2,539,368) (4,648,725) (2,582,890) (517,918) (10,288,901) Cash payments to other funds (583,141) (537,550) (345,942) (206,002) (1,672,635) Other revenues 107,695-2,656 3, ,373 Net cash provided by operating activities 3,465,215 1,372, ,965 2,779,131 7,886,475 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in from other funds 53,760 15,000-4,745,260 4,814,020 Transfers out to other funds - (100,000) (2,500) (4,720,000) (4,822,500) Receipt of cash on loans to/from other funds ,091,652 2,091,652 Payment of cash on loans to/from other funds - (91,654) - - (91,654) Net cash provided (used) by noncapital financing activities 53,760 (176,654) (2,500) 2,116,912 1,991,518 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Principal payments on debt (2,958,308) (173,778) (21,766) - (3,153,852) Interest paid (241,752) (34,785) (1,182) - (277,719) Acquisition of capital assets (3,144,056) (211,672) - - (3,355,728) Sale of capital assets 320, ,064 Proceeds from issuance of debt 2,690,692 31, ,722,390 Net cash provided (used) by capital and related financing activities (3,333,360) (388,537) (22,948) - (3,744,845) CASH FLOWS FROM INVESTING ACTIVITIES Interest on investments 162, ,741 45,179 1,339,644 1,771,402 Net cash provided by investing activities 162, ,741 45,179 1,339,644 1,771,402 Net increase in cash and cash equivalents 348,453 1,030, ,696 6,235,687 7,904,550 Cash and cash equivalents at beginning of year 4,840,747 5,668,037 1,205,409 31,584,021 43,298,214 Cash and cash equivalents at end of year $ 5,189,200 $ 6,698,751 $ 1,495,105 $ 37,819,708 $ 51,202,764 Cash and cash equivalents classified as: Cash and investments $ 5,189,200 $ 6,698,751 $ 1,495,105 $ 37,819,708 $ 51,202,764 The notes to the financial statements are an integral part of this statement. 108

22 Combining Statement of Cash Flows Internal Service Funds For the Year Ended September 30, 2010 Administrative General Central Garage Services Services Insurance Total Reconciliation of operating income (loss) to net cash provided (used) by operating activities: Operating income (loss) $ (655,193) $ 180,280 $ 43,177 $ 1,462,612 $ 1,030,876 Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities: Other nonoperating revenue 107,695-2,656 3, ,373 Depreciation 3,839, ,650 18,455 2,980 4,752,162 Change in assets and liabilities: (Increase) decrease in inventory (77,337) (77,337) (Increase) decrease in prepaid expenses (125,923) (8,152) - 89,795 (44,280) Increase (decrease) in accounts and contracts payable 176,089 (20,896) 8,658 1,190,949 1,354,800 (Increase) decrease in net pension asset 176, , ,569 34, ,686 Increase (decrease) in accrued payroll (17,741) (16,927) 8,601 (12,849) (38,916) Increase (decrease) in other postemployment benefits 41,928 65,690 33,849 7, ,111 Total adjustments 4,120,408 1,191, ,788 1,316,519 6,855,599 Net cash provided by operating activities $ 3,465,215 $ 1,372,164 $ 269,965 $ 2,779,131 $ 7,886,

23 Fiduciary Funds Fiduciary Funds are used to account for resources that are managed in a trustee capacity or as an agent for other parties or funds. Employees Pension Fund - to account for the financial operation and condition of the major employee retirement system. Firefighters Relief and Pension Fund - to account for the financial operation and condition of the Firefighters' Relief and Pension Plan, closed to new members in 1962, and containing 39 retired members with no active members. The Plan was fully funded effective with fiscal year Police Supplemental Pension Fund - to account for the financial operation and condition of a supplemental pension plan funded by the State for sworn police officers. Firefighters Supplemental Pension Fund - to account for the financial operation and condition of a supplemental pension plan funded by the State for firefighters. Treasurer s Escrow Agency Fund - to account for the receipt, custody, and expenditure of funds held temporarily in trust for other parties. 111

24 Combining Statement of Fiduciary Net Assets Fiduciary Funds September 30, 2010 Defined Benefit Defined Contribution Pension Trust Funds Pension Trust Funds Police Firefighters Employees' Firefighters Supplemental Supplemental Totals ASSETS Cash and investments $ 2,147,576 $ 3,521,390 $ 14,316 $ - $ 5,683,282 Managed investment accounts, at fair value: Cash and cash equivalents 44,269, , ,308 44,704,028 Government bonds 20,806,611-2,931,414 1,242,173 24,980,198 Agency bonds 16,487,284 3,338, ,344-20,455,943 Domestic corporate bonds 68,164,247-1,139,437 2,757,717 72,061,401 International equity securities 77,868,022-3,067,503-80,935,525 Domestic stocks 246,319,113-6,178,276 1,502, ,000,310 Mortgage backed bonds 72,356,017-39, ,697 73,021,510 Commodity exchange-traded funds 818, ,343 Domestic equity mutual funds 38,754, ,689,984 41,444,633 International equity mutual funds 28,791, ,178 29,459,722 Total managed investment accounts 614,635,138 3,338,315 14,183,182 9,724, ,881,613 Securities lending collateral 119,758, ,758,961 Receivables: Interest and dividends 1,903,605 51,957 51,306 53,888 2,060,756 Unsettled investment sales 35,351, ,351,583 Securities lending earnings 34, ,219 Due from others 104, , ,756 Total receivables 37,393,629 51,957 51, ,422 37,716,314 Total assets 773,935,304 6,911,662 14,248,804 9,944, ,040,170 LIABILITIES Accounts payable 715, ,088 Unsettled investment purchases 39,630, ,630,890 Obligations under securities lending 119,758, ,758,961 Total liabilities 160,104, ,104,939 NET ASSETS Net assets held in trust for pension benefits $ 613,830,365 $ 6,911,662 $ 14,248,804 $ 9,944,400 $ 644,935,231 The notes to the financial statements are an integral part of this statement. 112

25 Combining Statement of Changes in Fiduciary Net Assets Fiduciary Funds For the Year Ended September 30, 2010 ADDITIONS Defined Benefit Defined Contribution Pension Trust Funds Pension Trust Funds Police Firefighters Employees' Firefighters Supplemental Supplemental Totals Contributions: Contributions from employer $ 15,594,733 $ - $ - $ - $ 15,594,733 Contributions from employer - state tax 12, ,994 1,191,516 2,057,510 Contributions from employees 6,071, ,071,578 Total contributions 21,678, ,994 1,191,516 23,723,821 Investment income: Net appreciation in fair value of investments 68,138,734 14, , ,262 69,451,442 Interest 8,240, , , ,492 9,010,484 Dividends 5,351, ,316 43,385 5,594,313 81,731, ,974 1,214, ,139 84,056,239 Less investment expenses: Investment management / custodian fees 3,404,794-76,970 81,426 3,563,190 Net income from investing activities 78,326, ,974 1,137, ,713 80,493,049 Securities lending income: Gross earnings 451, ,562 Rebate paid (43,671) (43,671) Bank fees (142,598) (142,598) Net income from securities lending 265, ,293 Total additions 100,270, ,974 1,991,928 1,825, ,482,163 DEDUCTIONS Benefits and withdrawal payments: Benefits 26,656, ,817 1,269, ,862 29,244,753 Withdrawal payments 725, ,713 Total benefits and withdrawal payments 27,382, ,817 1,269, ,862 29,970,466 Income (loss) before administrative expenses 72,887,435 (383,843) 722,738 1,285,367 74,511,697 Administrative expenses 174,564 4,306 13,864 13, ,876 Net increase (decrease) 72,712,871 (388,149) 708,874 1,272,225 74,305,821 Net assets held in trust for pension benefits: Beginning of year 541,117,494 7,299,811 13,539,930 8,672, ,629,410 End of year $ 613,830,365 $ 6,911,662 $ 14,248,804 $ 9,944,400 $ 644,935,231 The notes to the financial statements are an integral part of this statement. 113

26 Statement of Changes in Assets and Liabilities Agency Fund For the Year Ended September 30, 2010 Balance Balance October 1, September 30, 2009 Additions Deductions 2010 TREASURER'S ESCROW FUND ASSETS Cash and investments $ 424, , ,233 $ 427,893 Accrued interest receivable 2,391 1,916 2,391 1,916 Total Assets $ 427, , ,624 $ 429,809 LIABILITIES Other miscellaneous payables: Downtown Development Board $ 311, , ,236 $ 314,240 Special purpose funds 7,640 1,179 1,179 7,640 Other 108, , , ,929 Total Liabilities $ 427, , ,624 $ 429,809 The notes to the financial statements are an integral part of this statement. 114