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<br />
<br />
<br />City of Centerville
<br />March 29, 2002
<br />Page Eight
<br />
<br />Capital Projects Funds
<br />
<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 />
<br /> Increase
<br />2001 2000 (Decrease )
<br />625 $ 107,013 $ (106,388)
<br />5,853 5,704 149
<br />139,520 136,544 2,976
<br />(352 ) (352)
<br />188,826 171,360 17,466
<br />(11,152 ) (10,786) (366 )
<br />(45,898 ) (45,898 )
<br />(2,550) (160) (2,390 )
<br />(6,233) (6,503) 270
<br />43,811 24,481 (8,761)
<br />25,121 52,572 640
<br />10,579 10,311 268
<br />(8,467 ) (4,900) (3,567)
<br />(40,553 ) (36,888 ) (3,665)
<br />1,943 2,322 (379)
<br />(3,599 ) (2,985 ) (614)
<br />(90,186) (88,857 ) (1,329)
<br />(6,029) (6,029)
<br />(159,422 ) (151,619) (7,803)
<br />64,702 125,549 (60,847)
<br />(8,560) (3,019) (5,541)
<br />413,548 (1,328) 414,876
<br />(1,018) (1,018)
<br />(1.521 ) 2.985 (4.506)
<br />508.988 $ 279517 $ 229471
<br />
<br />Fund
<br />
<br />Park
<br />Fire
<br />TIF Projects
<br />Pedestrian Trail ways
<br />Storm Water
<br />Eagle Pass Addition
<br />Lakeland Hills
<br />TIF District 1-4
<br />TIF District 1-5
<br />Parkview Development
<br />Woods of Clearwater Creek
<br />Willow Glen Development
<br />21 sf Avenue Improvements
<br />Center Villa
<br />BuecWer Estates
<br />Deer Pass
<br />Royal Industrial Park
<br />Public Works Building
<br />Lift Station #2 Renovation
<br />Hunters Crossing
<br />Downtown Revitalization
<br />Pheasant Marsh
<br />The Shores
<br />Economic Development Commission
<br />
<br />$
<br />
<br />Total
<br />
<br />$
<br />
<br />Many of the capital projects funds have a deficit at the end of the year. We have reconunended that each fund be researched
<br />to deterroine 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 filfther
<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 fmancing information. This would eliminate the need for urmecessary research
<br />several years after the fmancing was discussed. We reconunend that transfers and filing be completed in 2002.
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