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Governmental activities. Governmental activities decreased the City's net assets by $734,213. Key elements of this increase are as
<br />follows:
<br />City of Centerville's Changes in Net Assets
<br />Net assets, December 31 $11,094,384 $10,360,171 $ 734,213 $10,581,305 $10,757,384 $ (176,079)
<br />• Capital and operating grants, and contributions increased due grants for the irrigation project.
<br />• Expenses decreased a total of $543,609 with the largest decrease in public works due to capitalization of projects done in 2010.
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<br />Governmental Activities
<br />Business -type Activities
<br />Increase
<br />Increase
<br />2011
<br />2010
<br />(Decrease)
<br />2011
<br />2010
<br />(Decrease)
<br />Revenues
<br />Program revenues
<br />Charges for services
<br />$ 349,045
<br />$ 402,377
<br />$ (53,332)
<br />$ 691,020
<br />$ 687,407
<br />$ 3,613
<br />Operating grants and contributions
<br />305,362
<br />70,805
<br />234,557
<br />2,971
<br />-
<br />2,971
<br />Capital grants and contributions
<br />835,568
<br />232,360
<br />603,208
<br />96,421
<br />201,120
<br />(104,699)
<br />General revenues
<br />Taxes
<br />Property taxes /tax increments
<br />1,675,130
<br />1,678,293
<br />(3,163)
<br />-
<br />-
<br />-
<br />Property taxes, levied for debt service
<br />520,278
<br />482,219
<br />38,059
<br />-
<br />-
<br />-
<br />Othertaxes
<br />2,708
<br />753
<br />1,955
<br />-
<br />-
<br />-
<br />Grants and contributions
<br />not restricted to specific programs
<br />18,544
<br />18,665
<br />(121)
<br />-
<br />-
<br />-
<br />Unrestricted investment earnings
<br />29,025
<br />31,954
<br />(2,929)
<br />29,970
<br />40,615
<br />(10,645)
<br />Miscellaneous
<br />380
<br />4,692
<br />(4,312)
<br />-
<br />-
<br />-
<br />Total revenues
<br />3,736,040
<br />2,922,118
<br />813,922
<br />820,382
<br />929,142
<br />(108,760)
<br />Expenses
<br />General government
<br />536,926
<br />536,362
<br />564
<br />-
<br />-
<br />-
<br />Public safety
<br />1,024,690
<br />1,059,361
<br />(34,671)
<br />-
<br />-
<br />-
<br />Public works
<br />443,229
<br />1,333,377
<br />(890,148)
<br />-
<br />-
<br />-
<br />Culture and recreation
<br />712,987
<br />231,500
<br />481,487
<br />-
<br />-
<br />-
<br />Economic development
<br />15,074
<br />15,078
<br />(4)
<br />-
<br />-
<br />-
<br />Interest on long -term debt
<br />368,421
<br />469,258
<br />(100,837)
<br />-
<br />-
<br />-
<br />Water
<br />-
<br />-
<br />-
<br />373,184
<br />345,071
<br />28,113
<br />Sewer
<br />-
<br />-
<br />-
<br />438,610
<br />422,596
<br />16,014
<br />Storm Water
<br />-
<br />-
<br />-
<br />85,167
<br />122,475
<br />(37,308)
<br />Total expenses
<br />3,101,327
<br />3,644,936
<br />(543,609)
<br />896,961
<br />890,142
<br />6,819
<br />Increase (decrease) in
<br />net assets before transfers
<br />634,713
<br />(722,818)
<br />1,357,531
<br />(76,579)
<br />39,000
<br />(115,579)
<br />Transfers
<br />99,500
<br />209,500
<br />(110,000)
<br />(99,500)
<br />(209,500)
<br />110,000
<br />Change in net assets
<br />734,213
<br />(513,318)
<br />1,247,531
<br />(176,079)
<br />(170,500)
<br />(5,579)
<br />Net assets, January 1
<br />10,360,171
<br />10,873,489
<br />(513,318)
<br />10,757,384
<br />10,927,884
<br />(170,500)
<br />Net assets, December 31 $11,094,384 $10,360,171 $ 734,213 $10,581,305 $10,757,384 $ (176,079)
<br />• Capital and operating grants, and contributions increased due grants for the irrigation project.
<br />• Expenses decreased a total of $543,609 with the largest decrease in public works due to capitalization of projects done in 2010.
<br />-19-
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