Comp Annual Fincl Rpt 12/31/81 - Laserfiche WebLink

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EXHIBIT 4 I I I I I I I I I Cash and Temporary Cash Investments Cash balances from all funds are combined and invested to the extent available in certificates of deposit and U.S. government securities. Earnings from such investments are allocated to the respective funds on the basis of applicable cash balance participation by each fund. Temporary cash investments are stated at cost plus accrued interest, which approximates market. Investments are adjusted to market value only when a permanent decline in market value has occurred or when such investments will not be carried to maturity. emporary cash sbortages in specific funds cash deficits. F. Inventory are reclassified Purchases of inventory items are considered expenditures when received. G. Accumulated Unpaid Vacation and Sick Pay The City compensates employees upon termination for unused vacation pay up to a maximum based on length of service. Vacation pay expenditures are recognized when payment is. made. (See Note 3) I I City employees are entitled to sick leave at the rate of one day for each Calendar month of full-time service, to a cumulative total of 90 days. Employees are not compensated for unused sick leave upon termination. Sick pay expenditures are recognized when payment is made. I I I Total Columns on Combined Statements Total columns on the combined statements are captioned Memorandum Only to indicate-that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Interfund eliminations have not been made in the aggregation of this data. -13-