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<br />City of Centerville
<br />March 29, 2002
<br />Page Eight
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<br />Capital Projects Funds
<br />The following funds were established to account for the resources used for the acquisition or construction of major capital
<br />facilities. As projects are completed, any remaining funds should be transferred to their funding source. The following funds
<br />along with their fund balance or deficit are included in this group:
<br /> Increase
<br /> Fund 2001 2000 (Decrease )
<br />Park $ 109,816 $ 107,013 $ 2,803
<br />Fire 5,853 5,704 149
<br />TIP Projects 94,516 136,544 (42,028 )
<br />Pedestrian Trail ways (352) (352)
<br />Storm Water 188,826 171,360 17,466
<br />Eagle Pass Addition (11,152) (10,786) (366)
<br />Lakeland Hills (45,898 ) (45,898)
<br />TIP District 1-4 (2,550) (160) (2,390)
<br />TIP District 1-5 (6,233 ) (6,503) 270
<br />Parkview Development 43,811 24,481 (8,761)
<br />Woods of Clearwater Creek 25,121 52,572 640
<br />Willow Glen Development 10,579 10,311 268
<br />21" Avenue Improvements (8,467 ) (4,900) (3,567)
<br />Center Villa (40,553 ) (36,888 ) (3,665)
<br />Buechler Estates 1,943 2,322 (379)
<br />Deer Pass (3,599) (2,985) (614)
<br />Royal Industrial Park (90,186) (88,857 ) (1,329)
<br />Public Works Building (6,029) (6,029)
<br />Lift Station #2 Renovation (159,422 ) (151,619) (7,803)
<br />Hunters Crossing 64,702 125,549 (60,847 )
<br />Downtown Revitalization (8,560) (3,019) (5,541)
<br />Pheasant Marsh 413,548 (1,328) 414,876
<br />The Shores (1,018) (1,018 )
<br />Economic Development Commission (1521) 2.985 (4.506)
<br /> Total $ 573.175 $ 279517 $ 293658
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<br />Many of the capital projects funds have a deficit at the end of the year. We have recommended that each fund be researched
<br />to dctermine if the deficits are permanent and to make transfers to close each completed project out. We also provided the
<br />City entries in January to close several of the funds and a list of funds that have had minimal activity but needed further
<br />research. The transfers were delayed pending research on what oversizing was completed for some of the projects. This
<br />research was not completed by the time we were completing audit fieldwork. The City needs to have a better understanding
<br />of the financing of these projects when the project is initiated. There also needs to be timely close out of completed projects.
<br />Several of these projects have been on the financial statements for many years past their completion. There doesn't appear
<br />to be good process for organizing project data. The City should have centralized filing for projects from start to completion
<br />and the files should contain all the necessary financing information. This would eliminate the need for unnecessary research
<br />several years after the financing was discussed. We recommend that transfers and filing be completed in 2002.
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