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<br />City of Centervi<<e <br />Narrative for Interim Financial Statements <br />Month Ended October 31, 2002 <br /> <br />Attached are interim financial statements for the General Fund, Special Revenue Funds, <br />Debt Service Funds, Enterprise Funds and Capital Projects Funds for the City of <br />Centerville. These reports are intended to illustrate how city operations are progressing <br />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 at this time. 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 and <br />January. The January settlement is accrued back to the previous year. The first <br />property tax settlement was received in early July and is the only one reflected in <br />this statement. <br /> <br />2. IntergovernDlental <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 in the amount of$21,922.30 was received in October. The amount budgeted <br />for police state aid was $15,000. One-half of the Local Government Aid, in the <br />amount of $4,657.50, and one-half of the PERA Aid, in the amount of $666.50, <br />was received in July. There was no budget for Local Government Aid, PERA <br />Aid, or Fire Aid. The amount of$9,342.84 was received from the Waste <br />Management Board in September for SCORE (recycling) reimbursement. <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 ofthe money received was due in prior years. <br /> <br />4. 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 />L_______ ___ <br />