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CITY OF CENTERVILLE, MINNESOTA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />DECEMBER 31, 2014
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<br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED
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<br />Changes in long-term liabilities
<br />During the year ended December 31, 2014, the following changes occurred in noncurrent liabilities:
<br />
<br />BeginningEndingDue Within
<br />BalanceIncreasesDecreasesBalanceOne Year
<br />Governmental activities
<br />G.O Bonds$ 9,550,000$ -$ (855,000)$ 8,695,000$ 880,000
<br />Compensated absences
<br />payable 36,931 38,312 (41,265) 33,978 28,373
<br />Governmental activities
<br />long-term liabilities$ 9,586,931$ 38,312$ (896,265)$ 8,728,978$ 908,373
<br />Business-type activities
<br />Compensated absences
<br />payable$ 15,715$ 18,075$ (17,103)$ 16,687$ 15,610
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<br />E.Fund equity
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<br />At December 31, 2014, portions of the City’s fund balance are not available for appropriation due to not being in
<br />spendable form (Nonspendable), legal restrictions (Restricted), policy and/or intent (Assigned). The following is a
<br />summary of the components of fund balance:
<br />
<br />Other
<br />Debt Governmental
<br />GeneralServiceParkFundsTotal
<br />Nonspendable
<br />Prepaid items$ 1,272$ 23,797$ -$ -$ 25,069
<br />Restricted for
<br />Debt service - 1,775,752 - - 1,775,752
<br />Street projects - - - 165,065 165,065
<br />Cable TV - - - 20,403 20,403
<br />Assigned for
<br />Street projects - - - 8,365 8,365
<br />Street maintenance - - - 247,653 247,653
<br />Capital equipment - - - 9,017 9,017
<br />Capital projects - - - 15,838 15,838
<br />Unassigned 1,317,741 - (1,103,264) - 214,477
<br />Total$ 1,319,013 $ (1,103,264)$ 466,341$ 2,481,639
<br />$ 1,799,549
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