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CCP 05-22-2006
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CCP 05-22-2006
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<br />Management Discussion and Analysis - Continued <br />April 14, 2006 <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 ofinfonnation they contain. The remainder of this overview section ofmanagement's discussion and analysis <br />explains the structure and contents of each of the statements. <br /> <br />Figure 2 <br />Major features oftbe Government-wide and Fund Financial Statements <br /> <br />. <br /> <br /> .------ <br /> Fund Financial Statements <br /> Government-wide Governmental _Funds Proprietary Funds <br /> Statements <br /> - <br />Scope Entire City government Tne activities of the City that Activities the City operates <br /> (except fiduciary funds) and are not proprietary or simnar to private businesses, <br /> the City's component units fiduciary, such as police, fIre such as the water and sewer <br />--=----C--' and parks 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 /> Expendittues, and Expenses and Changes in <br /> Changes in Fund Fund Net Assets <br /> Balances . Statement of Cash Flows <br /> --....---- ----._--~--~- <br />Accounting Basis and Accrual accounting and Modified acemal accounting Accmal accounting and <br />measurement focus economic resources focus and current financial economic resources focus <br /> resources focus <br /> ._._~ <br />Type of asset/liability All assets and liahilities, boll, Only assets expected to be All assets and liabilities, both <br />information fmancial and capital, and used up and liabilities that financial and capital, and <br /> short-term and long-term come due during the year or shoI1-term and long-term <br /> soon thereafter; no capital <br /> assets included <br /> -~ ----- -_.~-~."..---_. <br />Type of in flow/out flow All revenues and expenses Revenues for which cash is All revenues and expenses <br />information I during year, regardless of received during or soon after during the year, regardless of <br /> when cash is received or paid I the end oUhe year; when cash is received or paid <br /> 1 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-wide financial Slatements 3re designed to provide readers -with a broad overview oftbe City's finances, in a <br />roaMer 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 betvv'een the two <br />reported as net assees. Over time, increases or decreases in net assets may serve as a useful indicator of \vhether the fmancial <br />position of the City is improving or deteriorating. <br /> <br />The statement of activities presents infonnation showing how the City's net assets changed during the most recent fiscal year. All <br />changes in net assets are reported as soon as the rmderlying event giving rise to the change occurs, regardless o/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 (c_g., uncollected taxes and earned but unused vacation leave). <br /> <br />Both of the government-wide financial statements distinguish ftmctions of the City that are principally supported by taxes and <br />intergovernmental revenue (governmental activities) from other hmctions 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, publie safety, public works, culture and recreation, economic development and miscellaneous. The business-type <br />activities of the City include ,vater, sewer, recycling and surfaee water management. <br /> <br />-1Il- <br />
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