|
Armstrong / Bunker Street Improvement Fund. — This Capital Project Fund reported a fund balance of
<br />$260,269. This fund is used to account for all costs associated with the construction of public
<br />improvements related to the Armstrong Blvd and Bunker Blvd project.
<br />Proprietary Funds — The City's Proprietary Funds provide the same type of information found in the
<br />government -wide financial statements, but in more detail. The City's Enterprise Funds had a combined net
<br />asset balance of $75,512,152 at December 31, 2011. The financial activities of these funds have been
<br />summarized in previous charts within this discussion.
<br />The Enterprise Funds consist of the Water Utility Fund, Sewer Utility Fund, Street Light Utility Fund,
<br />Recycling Utility Fund, and Storm Water Utility Fund. The growth in the assets reflect the ongoing expansion
<br />and provision of services to the various service areas of the utilities.
<br />Capital Assets — The City's investment in capital assets (net of accumulated depreciation) for its governmental
<br />and business -type activities as of December 31, 2011 are as follows:
<br />Land
<br />Buildings and structures
<br />Improvements other than buildings
<br />Office equipment
<br />Motor vehicles
<br />Machinery and equipment
<br />Infrastructure
<br />Water and sewer lines
<br />Construction in progress
<br />Less accumulated depreciation
<br />Total capital assets, net of depreciation
<br />Depreciation expense
<br />2011
<br />$ 6,772,024
<br />25, 763, 775
<br />7,346,628
<br />691,719
<br />3,766,466
<br />4,694,542
<br />25,412,900
<br />4,153, 721
<br />78,601,775
<br />14, 707,454
<br />Governmental
<br />Activities
<br />32
<br />2010
<br />$ 63,894,321 $ 59,831,812 $ 51,748,092
<br />Bonds $ 30,505,000
<br />Capital equipment certificates 170,000
<br />Compensated absences 798,892
<br />Other Post - Employment Benefits (OPEB) 214,747
<br />Total $ 31,688,639
<br />Business -Type
<br />Activities
<br />Totals
<br />2011 2010 2011 2010
<br />$ 6,772,024 $ 868,513 $ 868,513
<br />25,748,276 6,058,847 2,509,688
<br />4,077,621 11,445,595 1 0,837,169
<br />691,719 -
<br />3,816,420 -
<br />4,739,350 540,275 536,395
<br />22,459,019 - -
<br />45,346,485 45,284,740
<br />3,959,865 123,781 3,803,277
<br />72,264,294 64,383,496 63,839,782
<br />12,432,482 12,635,404 11,339,733
<br />$ 7,640,537 $ 7,640,537
<br />31,822,622 28,257,964
<br />18,792,223 14,914,790
<br />691,719 691,719
<br />3,766,466 3,816,420
<br />5,234,817 5,275,745
<br />25,412,900 22,459,019
<br />45,346,485 45,284,740
<br />4,277,502 7,763,142
<br />142,985,271 136,104,076
<br />27,342,858 23,772,215
<br />$ 52,500,049 $ 115,642,413 $ 112,331,861
<br />$ 2,519,597 $ 2,155,186 $ 1,297,690 $ 1,213,274 $ 3,817,287 $ 3,368,460
<br />The City's investment in capital assets for its governmental and business -type activities as of December 31,
<br />2011 amounts to over $115 million (net of accumulated depreciation).
<br />The governmental activities show an increase of approximately $4 million in capital assets. This increase is
<br />attributable to the construction of The Draw Park in The COR (formerly known as Ramsey Town Center).
<br />Depreciation for business -type activities surpassed current year additions causing a reduction in business -type
<br />capital assets. Additional details of capital asset activity for the year can be found in Note 4 of the notes to
<br />basic fmancial statements.
<br />Long -Term Liabilities — The Debt Service Funds account for the accumulation of resources to finance all of
<br />the City's general obligation bonds. The revenue sources for these funds include annual tax levies and special
<br />assessments. At year -end, the total fund balance of these funds was $5,753,130.
<br />The following table summarizes the City's long -term liabilities:
<br />Governmental Activities
<br />2011 2010
<br />$ 24,695,000
<br />335,000
<br />742,211
<br />141,817
<br />$ 25,914,028
<br />
|