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<br />-; <br /> <br />City of Centerville <br />Narrative for Interim Financial Statements <br />Month Ended July 31, 2002 <br /> <br />Attached are interim financial statements for the General Fund, Special Revenue Funds, <br />Debt Service Funds and Capital Projects Funds for the City of Centerville. These reports <br />are intended to illustrate how city operations are progressing financially during the year. <br /> <br />The interim financial statements are unaudited and may not reflect all financial <br />transactions that will be recorded for the year. <br /> <br />Note: I have not included reports for the debt service, capital projects and special <br />revenue funds because ofthe extensive amount of work that needed to be done to <br />reconcile the capital projects funds. I will include those reports in future statements. <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, December <br />and January. The January settlement is accrued back to the previous year. The <br />property tax settlement was received in early July and is reflected in this <br />statement. <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 prior year expenses. Police State <br />Aid will be received in September or October. The amount budgeted for police <br />state aid is $15,000. One-halfofthe Local Government Aid, in the amount of <br />$4,657.50, and one-half of the PERA Aid, in the amount of $666.50, was received <br />in July. Thcre was no budget for Local Government Aid, PERA Aid, or Fire Aid. <br /> <br />3. Interest <br />Interest earnings are below budget and will most likely continue to be below <br />budget throughout the year. Interest shown in this account consists of checking <br />account interest only. Interest on investments is credited to a special interest fund <br />and, under current policy, is distributed at year-end. <br /> <br />4. Miscellaneous <br />The Refunds and Reimbursements line item includes a donation from the <br />Centennial Fire Relief Association in the amount of $14,500 that was not in the <br />budget. The money came from gambling proceeds and was passed on to the <br />Centennial Fire Department. <br />