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<br />
<br />City of Centerville
<br />May 3, 2007
<br />Page Nine
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<br />Nonmajor Special Revenue Funds
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<br />These funds are used to account for revenues derived from specific revenue sources that are restricted to expenditures for
<br />specific purposes.
<br />
<br />The fund balances for 2006 and 2005 are as follows:
<br />
<br /> Fund Balances
<br /> December 31, Increase
<br />Fund 2006 2005 (Decrease)
<br />Nonmajor
<br />Cable T.V. $ 19,455 $ 16,422 $ 3,033
<br />Community Development Block Grant 25,602 (25,602)
<br />Total $ 19,455 $ 42,024 $ (22,569)
<br />Debt Service Funds
<br />A comparison ofthe assets of each fund and the remaining bonds outstanding at year end are as follows:
<br /> Cash and
<br /> Temporary Total Bonds
<br />Fund Investments Assets Outstanding Maturity
<br />Mound Trail $ 22,694 $ 22,694 $
<br />21 st A venue Improvements 42,204 47,836
<br />Joint police Station 2005A 38,814 42,121 807,291 2021
<br />G.O. Improvement Bonds of2004B 477,627 925,553 2,090,000 2020
<br />Parkview Development 2,365 6,583
<br />G.O. Improvement Bonds of2000 61,243 70,740
<br />G.O. Improvement Bonds of2001 522,082 522,082 750,000 2013
<br />G.O. Improvement Bonds of 2002 795,726 795,726 525,000 2014
<br />G.O. Temporary Improvement Bonds of2003 (24,798) 52,614
<br />G.O. Improvement Bonds of2004A 669,703 778,734 780,000 2007
<br />G.O. Improvement Bonds of2006A 178,572 764,744 2,700,000 2022
<br /> $ 2,786,232 $ 4,029,427 $ 7,652,291
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<br />The City currently has cash in excess of bonds outstanding in the G.O. Improvement Bonds 2002. The City has determined
<br />that the call date on these two issues is not until 2008. The City should continue to annually review the cash flow of each debt
<br />service fund to determine if bonds can be prepaid or if cash flow is adequate to meet future needs. In addition, several funds
<br />have paid their debt obligation and can be closed to wherever the Council deems appropriate. The Mound Trail, 21 st Avenue
<br />Improvements, Parkview Development and G.O. Improvement Bonds of2000 should be closed by resolution in 2007.
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<br />952.835.9090 . Fax 952.835.3261
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<br />www.aemcpas.com
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