2016-12-31 Annual Financial Report

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CITY OF CENTERVILLE, MINNESOTA ANNUAL FINANCIAL REPORT TABLE OF CONTENTS FOR THE YEAR ENDED DECEMBER 31, 2016 INTRODUCTORY SECTION Elected and Appointed Officials FINANCIAL SECTION Independent Auditor's Report Management's Discussion and Analysis Page No. 9 13 Basic Financial Statements Government -wide Financial Statements Statement of Net Position 27 Statement of Activities 28 Fund Financial Statements Governmental Funds Balance Sheet 32 Reconciliation of the Balance Sheet to the Statement of Net Position 35 Statement of Revenues, Expenditures and Changes in Fund Balances 36 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities 38 General Fund Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual 39 Proprietary Funds Statement of Net Position 40 Statement of Revenues, Expenses and Changes in Net Position 43 Statement of Cash Flows 44 Notes to the Financial Statements 47 Required Supplementary Information Schedule of Employer's Share of Public Employees Retirement Association Net Pension Liability - General Employees Retirement Fund 72 Schedule of Employer's Public Employees Retirement Association Contributions - General Employees Retirement Fund 72 Combining and Individual Fund Financial Statements and Schedules Nonmajor Governmental Funds Combining Balance Sheet 74 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 75 General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual 77 Debt Service Funds Combining Balance Sheet 82 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances 84 Summary Financial Report Revenues and Expenditures for General Operations - Governmental Funds 86 OTHER REQUIRED REPORT Independent Auditor's Report on Minnesota Legal Compliance -1- 89