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<br />City of Centervi{{e <br />Narrative for Interim Financial Statements <br />Month Ended December 31, 2002 <br /> <br />Attached are interim financial statements for the General Fund and Enterprise Funds for <br />the City of Centerville. These reports are intended to illustrate how city operations are <br />progressing financially during the year. <br /> <br />The interim financial statements are unaudited and do not reflect all financial <br />transactions that will be recorded for the year. Preparation of the final statement is <br />in process. <br /> <br />Note: I have not included reports for the Debt Service, Capital Projects and Special <br />Revenue funds at this time. <br /> <br />Please take note of the following: <br /> <br />General Fund <br />Revenues: <br />1. Taxes <br />Property tax revenues are received from the county in June, November and <br />January. The first property tax settlement was received in early July and the <br />November settlement was received in early December. The final settlement for <br />the year 2002 will be received in January and will be accrued back to 2002. <br /> <br />2. Intergovernmental <br />The Intergovernmental Revenue Account includes a grant received from the DNR <br />in the amount of$40,500 for an Acorn Creek Park project. The project was not in <br />the 2002 budget because it was a reimbursement for prior year expenses. Police <br />State Aid in the amount of$21,922.30 was received in October. The amount <br />budgeted for police state aid was $15,000. As expected, Local Government Aid <br />in the amount of$9,315 and PERA Aid in the amount of$1,333 were received. <br />There was no budget for Local Government Aid, PERA Aid, or Fire Aid. The <br />amount of$9,342.84 was received from the Waste Management Board in <br />September for SCORE (recycling) reimbursement. The total amount of HAC A <br />aid received was $117,294.58, and the total amount of Fire Aid received was <br />$92,968.00. The Fire Aid was transferred to the Centennial Fire Department. <br /> <br />3. Charges for Services <br />The YTD amount includes transfers from capital project funds for street <br />maintenance and signage. There was no budget for these services for the year <br />2002. However, most of the money received was due in prior years. <br /> <br />4. Interest <br />Interest earnings are below budget but will be adjusted before the final report. <br />Interest shown in this account consists of checking account interest only. Interest <br />