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�CityofCenterville October 2010 Financial Statement Analysis Prepared November 2, 20110 The summary below was derived from observations related tothe City ofCentervillo's monthly financial statements, which should be read in conjunction with the analysis below, The City of Centerville utilizes a fund accounting system consisting of a General Fund, Debt Service Funds, Other Governmental Funds and Enterprise Funds. Staff reviewed the supporting documentation available in the areas discussed below and evaluated the key factors used to develop the actual historical data and annual budget in determining that they are reasonable in relation to the financial statements taken as a whole. Balance Sheet Assets Cash and Cash Equivalents: The City of Centerville ended the month of October with $5.037.083 in reconciled bank balances, A summary of the City's vmuh account holdings is chronicled on the attached bank reconciliation sheet. The C|tyMoo has $50,000 in depository funds being utilized otTwin Cities Community Capital Fund in order to help provide the financing needs of city businoosou. Staff anticipates receiving a majority of these funds back as TCCCF was dissolved at the end of October, Taxes Receivable: The City has tax receivables of roughly $80.707—de|ioquen{ taxes derived from balances remaining from 2OO4 through 2OD0. Snwda] Assessments Receivable: The City has apeo|M assessment receivables from various ooumma in the amount of $34,174—delinquent special anaenamen1a are derived from balances remaining from 2OO6,2Q8B and QOO9. Special Assessments Deferred: The City has future special assessment principal bo|enoen from various sources in the amount of $2,891,894. These are outstanding principal balances with annual payment ouhedu]es, which are then used to assist in the payment of there respective bond issues. General Receivables: The City has receivables cf roughly *46.154atmonth'uend. /nterfund Loans: The Sewer fund has loaned $448.828 to the General Fund. $2B3.312 to the Park C ital Project Fund $110.Q0QWo the Storm Water Fund and $371,324to the 2OO8B Bond fund $1,213,474, Inventory: The City has roughly $3.469 worth of water meters that are held and distributed ona need basis, Land/Other Fixed Assets: The City has roughly $23.332.8O0in land, infrastructure and other fixed assets (net of depreciation) at the end ofOctober, Liabilities Current Liabilities: The only rmtuinuge fee remaining is in relation to the 2009 street project and totals $48.579. Long Tenn Dek�� The City of CmntmmU|m has five outstanding bond issues as of 1031/10-2004 B, 20U5 A. 2007 A. 2009 B. and 2009 A. The total current debt (principal 10 he