2016-04-27 CC Packet - Laserfiche WebLink

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CITY OF CENTERVILLE, MINNESOTA NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2015 Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED Depreciation expense was charged to functions/programs of the business -type activities as follows: Business -type activities Water Sewer Storm water Total depreciation expense - business -type activities C. Interfund balances and transfers The composition of internal balance as of December 31, 2015 is as follows: Receivable Fund Due to/from other funds Sewer Sewer Sewer Water Nonmajor governmental fund Total due to/from other funds Advance to/from other funds Sewer Subtotal of interfund balances Payable Fund Park Storm Water 2013 Street Project 2013 Street Project 2013 Street Project Park Interfund activity eliminated from government -wide statements Total internal balances - government -wide statements $ 190,957 114,253 35,344 $ 340.554 Amount $ 65,678 22,660 100,000 100,000 271,947 560,285 1,093,260 1,653,545 (294,607) $ 1,358,938 The above interfund advance and the amount due from the Storm Water fund have and associated amortization schedules, of which current payments are being made. The remaining balances are to fund deficit cash balances. Interfund transfers The composition of interfund transfers for the year ended December 31, 2015 is as follows: Transfer In 2013 Street Other Fund Project Governmental Total Transfer out General $ 242,000 $ 256,000 $ 498,000 • A transfer of $56,000 from the General fund to other governmental funds is for future replacement of equipment, vehicles, and computers in the near future. • A transfer of $200,000 from the General fund to other governmental funds is for future street maintenance projects. A transfer of $242,000 from the General fund to the 213 Street Project fund is for the funding of expenditures associated with the Centerville Road Reconstruction Project. -59-