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CITY OF SOUTH BEND
<br />NOTES TO FINANCIAL STATEMENTS
<br />(Continued)
<br />4. Notes and Loans Payable
<br />The primary government has entered into various notes /loans. Annual debt service requirements
<br />to maturity for the notes /loans are as follows:
<br />Year Ended
<br />Governmental Activities
<br />Business-Type
<br />Activities
<br />December 31
<br />Principal
<br />Interest
<br />Principal
<br />Interest
<br />2004
<br />2005
<br />$ 786,609 $
<br />338,077
<br />$ 1,229,500
<br />$ 577,050
<br />2006
<br />871,251
<br />308,176
<br />1,413,141
<br />579,531
<br />2007
<br />911,212
<br />274,250
<br />1,388,582
<br />544,953
<br />2008
<br />781,508
<br />230,826
<br />1,427,122
<br />509,516
<br />2009 -2013
<br />818,074
<br />590,419
<br />1,470,765
<br />473,088
<br />2014 -2018
<br />2,879,825
<br />465,274
<br />7,919,403
<br />1,781,749
<br />2019 -2023
<br />754,036
<br />329,469
<br />117,350
<br />6,130,938
<br />729,785
<br />787,689
<br />30,112,808
<br />20,025
<br />359,196
<br />10,490
<br />Totals
<br />$ 8,131,984 $
<br />2,344,397
<br />$ 21,338,647
<br />$ 5,206,162
<br />8,172,424
<br />5. Changes in Long -Term Liabilities
<br />Long -term liability activity for the year ended December 31, 2003, was as follows:
<br />47
<br />Due
<br />Beginning
<br />Endinq
<br />Within
<br />Primary Government
<br />Balance
<br />Additions
<br />Reductions
<br />Balance
<br />One Year
<br />Governmental activities:
<br />Bonds payable:
<br />General obligation
<br />$ 2,085,000
<br />$ -
<br />$ 560,000
<br />$ 1,525,000
<br />$ 590,000
<br />Revenue
<br />63,175,000
<br />34,215,000
<br />12,320,000
<br />85,070,000
<br />2,680,000
<br />Mortgage
<br />9,565,497
<br />21,335,000
<br />787,689
<br />30,112,808
<br />587,519
<br />Total bonds payable
<br />74,825,497
<br />55,550,000
<br />13,667,689
<br />116,707,808
<br />3,857,519
<br />Notes and loans payable
<br />8,172,424
<br />403,290
<br />443,730
<br />8,131,984
<br />786,609
<br />Capital leases
<br />3,455,652
<br />795,324
<br />591,654
<br />3,659,322
<br />688,316
<br />Compensated absences
<br />3,354,002
<br />2,884,153
<br />2,708,101
<br />3,530,054
<br />2,912,357
<br />Net pension obligation
<br />40,669,182
<br />-
<br />40,669,182
<br />Total governmental activities
<br />Long -term liabilities
<br />$ 130,476,757
<br />$ 59,632,767
<br />$ 17,411,174
<br />$ 172,698,350
<br />$ 8,244,801
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