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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 />. The government~wide financial statements include not only the City itself (known as the primar}' government)l but also a legally <br />separate Eeonorrllc Development Authority (EDA) for which the City is fmaneially accountable. The EDA, although legally <br />separate, functions for all practical purposes as a department of the City, and therefore has been included as an integral part of the <br />primary government. <br /> <br />The government-wide jinancial 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 that have been segregated for specific <br />activities or objectives. The City, like other State and local governments, uses fund accounting to ensure and demonstrate <br />compliance with fmance-related legal requirements. All of the funds of the City can be divided into two categories: <br />governmental funds and proprietary f1illds. <br /> <br />Governmental funds. Governmental fUnds 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 fwancial statements, governmental <br />fund fmancial statements focus on near-term inflows and OUlj7ows of spendable resources, as well as on balances of spendable <br />resources available at the end ofthe fiscal year. Such information may be useful in evaluating a governmenCs 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 information presented fOT governmental funds with similar information presented for governmental activities in the <br />gllvernment-wide fmanciaI statements. By doing so, readers may better understand the long~tcrm impact by the government's <br />near-term financing decisions. Both the governmental fund balance sheet and the goverrunental fund statement of revenues, <br />expenditures and changes in fund balances provide a reconciliation to facilitate tills comparison between governmental funds and <br />governmental activities. <br /> <br />eThe City maintains 13 individual governmental funds. Information is presented separately in the governmental fund balance <br />sbeet 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 tbe Permanent Improvement Revolving fund, all of which are <br />considered to be major funds. Data from the other 9 governmental funds are combined into a single~ aggregated presentation. <br />individuai fund data for each of these nonmajor governmental funds is provided in the [(HID of combining statements or schedules <br />elsewhere in this report. <br /> <br />The City adopts an annual appropriated budget for all funds. A budgetary comparison statement has been provided for tbe <br />General fund to demonstrate compliance with thls budget. <br /> <br />The basic govenunental fund fmancial statements can be found on pages 7 - 14 ofthls report. <br /> <br />Proprietary funds. The City maintains one type of proprietary fimd. Enterpn.se funds arc used to report the same functions <br />presented as business-type activities in the govemment-vvide financial 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 morc detail. The <br />proprietary fund fInancial 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 />-lV- <br />
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