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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 />The government-wide financial statements include not only tbe City itself (known as tbe primary government), but also a legally <br />separate Econonric Development Authority (EDA) for whicb the City is fiuancially accountable, The EDA, althougb legally <br />separate, functions for all practical purposes as a department of tbe City, and therefore bas been included as an integral part of the <br />primary government. <br /> <br />The government-wide financial statements can be found on pages 4 - 6 of this report, <br /> <br />Fund Financial Statements <br /> <br />A fund is a grouping of related accounts that is used to maintain control over resources tbat have been segregated for specific <br />activities or objectives. The City) like other State and local governments, uses fund accOlUltmg to ensure and demonstrate <br />compliance witb [mance-related legal requirements, All of the funds of the City can be divided into two categories: <br />governmental funds and proprietary funds, <br /> <br />Governmental funds. Governmental fimds are used to account for essentially the same functions reported as governmental <br />activities in the government-wide fmancial statements. However, unlike the government-wide fmancial statements, governmental <br />fund [mandaI statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable <br />resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term <br />financing requirements. <br /> <br />Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to <br />compare the infonnation presented for governmental funds with similar information presented for governmental activities in the <br />government-wide fmancial statements. By doing so, readers may better understand the long-term impact by the government's <br />near-term fmancing decisions. Both the govenunental fund balance sheet and the governmental fund statement of revenues, <br />expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental fUnds and <br />governmental activities. <br /> <br />. <br /> <br />The City maintains 13 individual governmental funds. Information is presented separately in the governmental fund balance <br />sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances for the General fund, Tax <br />Increment Bonds of 1998A, Economic Development Authority and the Permanent Improvement Revolving fund, all of whicb are <br />considered to be major funds. Data from the other 9 governmental funds are combined into a single, aggregated presentation. <br />Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements or schedules <br />elsewbere in this report <br /> <br />TIle City adopts an ammal appropriated budget for all funds, A budgetary comparison statement has been provided for the <br />General fund to demonstrate compliance with this budget <br /> <br />The basic governmental fund fmancial statements can be found on pages 7 - 14 of this report. <br /> <br />Proprietary funds, Tbe City maintains one type of proprietary fund Enterprise funds are used to report tbe same functions <br />presented as business-type activities in the government-wide fmancial statements. The City uses enterprise funds to account for <br />water, sewer, recycling and surface water management activities. <br /> <br />Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. Tbe <br />proprietary fund [mandaI statements provide separate information for the water, sewer, recycling and surface water management <br />funds, all of which are considered to be major funds of the City, <br /> <br />The basic proprietary fund financial statements can be found on pages 15 - 38 of this report. <br /> <br />. <br /> <br />-IV- <br />
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