2011-02-09 CC Mtg. Handouts - Laserfiche WebLink

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r ��Z�� �r�r.�sr City of Centerville January 2011 Financial Statement Analysis The summary below was derived from observations related to the City of Centerville's monthly financia/ statements, which shou/d be read in conjunction with the analysis below. The City of Centervi!!e utilizes a fund accounting system consisting of a General Fund, Debt Service Funds, Other Governmenta/ Funds and Enterprise Funds. Balance Sheet Assets Cash and Cash Equivalents: The City of Centerville ended the month of January with $5,449,080 in reconciled bank balances. A summary of the City's cash account holdings is chronicled on the attached bank reconciliation sheet. The city accrued $15,122 in interest receivable at fiscal year end. � Taxes Receivable: The City has tax receivables of roughly $93,168—delinquent taxes derived from balances remaining from 2004 through 2010. , General Receivables: The City has receivables of roughly $229,449 at month's end. This receivable amount is primarily made up of utility bill payments from the last quarter of 2010. Special Assessments Receivable: The City has special assessment receivables from � various sources in the amount of $15,876—delinquent special assessments are derived from balances remaining from 2008 through 2010. Special Assessments Deferred: The City has future special assessment principal balances from various sources in the amount of $2,451,390. These are outstanding principal balances with annual payment schedules, which are then used to assist in the payment of there respective bond issues. Inventory: The City has roughly $3,411 worth of water meters that are held and distributed on a need basis. Land/Other Fixed Assets: The City has roughly $23,309,999 in land, infrastructure and other fixed assets (net of depreciation) at the end of fiscal year 2010. Liabilities Interfund Loans: The Sewer fund has loaned $448,828 to the General Fund, $1,108,312 to the Parlc Capital Project Fund, $110,000 to the Storm Water Fund and $371,334 to the 2009 B Bond fund—totaling $2,038,474. Long Term Debt: The City of Centerville has five outstanding bond issues as of 1/31/11-2004 B, 2005 A, 2007 A, 2009 B, and 2009 A. The total current debt (principal to be paid back in 2011) is $185,833. Total long term debt outstanding (principal to be paid back 2012 through 2025) is $9,965,585. Fund Balance Fund Balance: The City of Centerville began fiscal year 2010 with a General Fund balance of $1,049,749 and has since (1/1/11 through 1/31/11) incurred an excess of expenditures over revenues of ($50,185}--leaving the City with a tota! General Fund balance of $999,565 at the end of January.