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CCP 05-15-2006
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CCP 05-15-2006
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<br />Management Discussion and Analysis - Continued <br />April 14, 2006 <br /> <br />. <br /> <br />Figure 2 summarizes the major features of the City's fInancial statements, including the portion of the City government they <br />cover and the types of information they contain. The remainder of this overview section ofrnanagemenfs discussion and analysis <br />explains the structure and contents of each of the statements. <br /> <br />Figure 2 <br />Major features ofthe Government-wide and Fund Financial Statements <br /> <br />. <br /> <br /> Fund Financial Statements <br /> Government-wide Governmental Funds Proprietary Funds <br /> Statements <br />Scope Entire City government The activities of the City that Activities the City operates <br /> (except fiduciary funds) and are not proprietary or similar to private businesses, <br /> the City's component units fiduciary, such as police, fIre such as the water and sewer <br /> and narks system <br />Required financial . Statement of Net Assets . Balance Sheet . Statement of Net Assets <br />statements . Statement of Activities . Statement of Revenues, . Statement of Revenues, <br /> Expenditures, and Expenses and Changes in <br /> Changes in Fund Fund Net Assets <br /> Balances . Statement of Cash Flows <br />Accounting Basis and - Accrual accOlll1ting and <br />Accrual accounting and Modified accrual accounting <br />measurement focus economic resources focus and current financial economic resources focus <br /> resources focus <br />Type of asset/liability All assets and liabilities, both Only assets expected to be All assets and liabilities, both <br />information financial and capital, and used up and liabilities that financial and capital, and <br /> short-term and long-term come due during the year or sbort-term and long-term <br /> soon thereafter; DO capital <br /> assets included <br />Type of in flow/out flow All revenues and expenses Revenues for which cash is All revenues and expenses <br />information during year, regardless of received during or soon after during the year, regardless of <br /> when cash is received or paid the end of the year; when cash is received or paid <br /> expenditures when goods or <br /> services have been received <br /> and payment is due during <br /> the year or soon thereafter <br /> <br />Government-wide Financial Statements <br /> <br />The government-widejinancial statements aTe designed to provide readers with a broad overview of the City's finances, in a <br />manner similar to a private-sector business. <br /> <br />The statement of net assets presents information on all of the City's assets and liabilities, with the difference between the two <br />reported as net assets. Over time} increases or decreases in net assets may serve as a useful indicator of whether the flllancial <br />position of the City is improving or deteriorating, <br /> <br />The statement of activities presents information showing how the City's net assets changed during the most recent fiscal year. An <br />changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of <br />related cash flows. Thus, revenues and expenses are reported in this statement for some items that "Will only result in cash flows <br />in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). <br /> <br />Both of the government-wide financial statements distinguish functions of the City that are principally supported by taxes and <br />intergovermnental revenue (governmental activities) from other functions that are intended to recover all or a significant portion <br />of their costs through user fees and charges (business-type activities). The governmental activities of the City include general <br />government, public safety, public works, culture and recreation, economic development and miscellaneous. The business-type <br />activities of the City include water, sewer, recycling and surface water management. <br /> <br />. <br /> <br />-III- <br />
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