My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2003 Comprehensive Annual Financial Report
sbend
>
Public
>
Finance
>
Annual Reports
>
Annual Comprehensive Financial Report (ACFR)
>
2003 Comprehensive Annual Financial Report
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/11/2012 10:25:14 AM
Creation date
12/18/2007 11:26:22 AM
Metadata
Fields
Template:
General
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
186
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
Individual fund data for each of the non -major governmental fiends is provided in the form of the combining <br />statements in the Supplemental Information portion. <br />Proprietary funds. Enterprise funds are used to report the same functions presented as business -type activities <br />in the government -wide financial statements. The City maintains seven individual enterprise funds. The basic <br />proprietary fund financial statements can be found later in this report. <br />Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the <br />government. The basic fiduciary funds financial statements can be found later in this report. <br />General Fund Budgetary Highlights <br />The City adopts an annual appropriated budget for its general fund. The final budget was greater than the <br />onginal budget by $2,902,125. An amended original budget can be explained by either an encumbrance <br />rollover or a current year budget overrun. The general fund budget is reviewed throughout the year and revised <br />as needed with the approval of the City Council. At the end of the fiscal year the actual expenditures are <br />projected and the budget is amended to prevent any budget overruns. The City tries to maintain within its <br />original budget by increasing categories that will exceed budget while decreasing other categories to cover <br />these overruns. If this transferring will not cover these expenditures then the City must appropriate from its <br />fund balance. <br />The majority of the $2,902,125, $2 million, was to amend the original budget to account for the transfer of <br />funds to the health insurance fund to help alleviate increased costs. The remainder were prior year <br />encumbrances that rolled over and were added to the original budget. <br />The actual revenues are $3,319,756 over budget and expenditures are $2,235,497 under budget. The majority <br />of $3 million can be explained by the increase in property taxes and the inclusion of new source of revenue, <br />gaming proceeds. The underspending of the expenditures can be partially attributed to the fact that the City <br />budgets at full staff and not all positions were filled in 2003. Also, overtime in public safety was down due to <br />personnel being at full staff. In all, this saving provides evidence that the City's budget has been prepared on a <br />conservative basis and has provided adequate resources to hmd services provided. All cities have limited <br />resources and, thus, limited numbers of programs and services that can be provided. We are proud to say that <br />we have done well in terms of maintaining a solid, financially sound organization by spending within our <br />means. <br />Capital Asset and Debt Administration <br />Capital assets. The City's investment in capital assets for its governmental and business type activities at <br />December 31, 2003 amounts to $254,013,839 (net of accumulated depreciation). This investment in capital <br />assets includes land, buildings, roads, improvements, service lines, automobiles and equipment, and street <br />lights. A detailed note of these capital assets can be found in the Notes to the Basic Financial Statements (Note <br />III C). <br />Major capital asset additions during the current fiscal year include the following: <br />- Construction of new Park at cost of $1.8 million. <br />- Major road renovation at $3.1 million. <br />- New police vehicles added to fleet at a cost of $995 thousand. <br />- South side sanitary sewer extension at a cost of $820 thousand.. <br />- Upgrade to water wells at a cost of $525 thousand <br />10 <br />
The URL can be used to link to this page
Your browser does not support the video tag.