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CITY OF CENTERVILLE, MINNESOTA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />DECEMBER 31, 2011
<br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED
<br />Changes in long -term liabilities
<br />During the year ended December 31, 2011, the following changes occurred in noncurrent liabilities:
<br />Beginning Ending Due Within
<br />Balance Increases Decreases Balance One Year
<br />Governmental activities
<br />Bonds payable $ 10,809,439 $ 2,760,000 $ (4,243,854) $ 9,325,585 $ 545,604
<br />Compensated absences
<br />payable 43,147 47,833 (52,997) 37,983 33,186
<br />Governmental activities
<br />long -term liabilities $ 10,852,586 $ 2,807,833 $ (4,296,851) $ 9,363,568 $ 578,790
<br />Business -type activities
<br />Compensated absences
<br />payable $ 13,897 $ 13,635 $ (13,264) $ 14,268 $ 11,027
<br />E. Interfund balances and transfers
<br />The following is a schedule of interfund transfers as of December 31, 2011:
<br />Transfer in
<br />General Debt Service Other
<br />Fund Fund Funds Governmental Total
<br />Transfer out
<br />General $ - $ - $ 26,100 $ 26,100
<br />Storm Water - 99,500 - 99,500
<br />Other Governmental 12,480 1,526 - 14,006
<br />Total $ 12,480 $ 101,026 $ 26,100 $ 139,606
<br />• A transfer of $26,100 from the General fund to other governmental funds for the creation and funding of the
<br />Revolving Street fund.
<br />• A transfer of $99,500 from the Storm Water fund to Debt Service funds for future debt payments.
<br />• A transfer of $12,480 from other governmental funds to the General fund for salary reimbursement.
<br />• A transfer of $1,526 from other governmental funds to Debt Service funds to close the fund.
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