2011-03-09 CC Packet - Laserfiche WebLink

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� � �� . . 3�; t�rvZCCe 'L�,stab(ishE�rf 1.5'.�� City of Centerville February 2011 Financiai Statement Analysis The summary be/ow was derived from observatrons re/ated to the City of Centerville's month/y fnancia/ statements, which shou/d be read in conjunction with the analysis be/ow. The City of Centerville utilizes a fund accounting system consisting of a Genera/ Fund, Debt Service Funds, Other Govemmenta/ Funds and Enterprise Funds. Balance Sheet Assets Cash and Cash Equivalents: The City of Centerville ended the month of February with $5,009,869 in reconciled bank balances. A summary of the Ciry'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—�elinquent taxes derived from balances remaining from 2004 through 2010. General Receivables: The City has receivables of roughly $231,378 at month's end. This receivable amount is primarily made up of utility bill payments from the last quarter of 2010. Special AssessmeMs Receivable: The C�y 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. Speciai Assessments Deferred: The City has future speciai assessment prinapal balances from various sources in the amount of $2,272,001. These are outstanding prinapal balances with annual payment schedules, which are then used to assist in the payment of there respective bond issues. inveritory: 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, ir�frastructure and other fixed assets (net of depreciation) at the end of fiscal year 2010. Liabilities InterFund Loans: The Sewerfund has loaned $448,828 tothe General Fund, $1,108,312 to the Park 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 2/28N 1-2004 B, 2005 A, 2007 A, 2009 B, and 2009 A. The total current debt (principal to be paid back in 2011) is $181,750. Total long term debt outstanding (principal to be paid back 2012 through 2025) is $9,965,585. Fund Balance Fund Balance: The City of Centecville began fiscal year 2010 with a General Fund balance of $1,068,412 and has since (1/1/11 through 2/28/11) incurred an excess of expenditures over revenues of ($180,237�leaving the City with a total General Fund balance of $888,175 at the end of February. �