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2005 Comprehensive Annual Financial Report
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2005 Comprehensive Annual Financial Report
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4/14/2014 10:58:01 AM
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12/18/2007 12:51:12 PM
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CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />Transfer To <br />General Nonmajor <br />Transfer From Fund COIT TIF - Airport Governmental Total <br />General $ - $ - $ - $ 866,130 $ 866,130 <br />Park and recreation - - - 99,$95 99, &95 <br />COIT - - - 2,504,000 2,504,000 <br />T1 - Airport - - - 383,921 383,921 <br />Nonmajor governmental 250,000 9,033 7,759 4,178,415 4,445,207 <br />Nonmajor enterprise - - 33,589 - 33,589 <br />Totals $ 250,000 $ 9,033 $ 41,348 ",032,361 $ 8,332,742 <br />The primary government typically uses transfers to fund ongoing operating subsidies and to <br />transfer the portion of state - shared revenues from the general fund to the debt service fund for <br />current -year debt service requirements. <br />F. Leases <br />1. Operating Leases <br />The primary government has entered into various operating leases having initial or remaining <br />noncancelable terms exceeding one year for golf cart global positioning systems, vehicles, <br />copiers, and office space. Rental expenditures for these leases were $275,492. The following is <br />a schedule by years of future minimum rental payments as of December 31, 2005: <br />2006 <br />$ 288,401 <br />2007 <br />160,915 <br />2008 <br />64,376 <br />2009 <br />53,708 <br />2010 <br />12,755 <br />Total $ 580.155 <br />2. Capital Leases <br />The primary government has entered into various capital leases for various types of equipment, a <br />softball complex, and a parking garage. The parking garage capital lease is being repaid from <br />governmental funds. Future minimum lease payments and present values of the net minimum <br />lease payments under these capital leases as of December 31, 2005, are as follows: <br />42 <br />
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