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CITY OF SOUTH BEND
<br />NOTES TO FINANCIAL STATEMENTS
<br />(Continued)
<br />5. Changes in Long -Term Liabilities
<br />Long -term liability activity for the year ended December 31, 2005, was as follows:
<br />Compensated absences for governmental activities typically have been liquidated from the gen-
<br />eral fund and special revenue funds. All of the December 31, 2005, business -type activities' com-
<br />pensated absences are due within one year.
<br />H. Segment Information
<br />The primary government issued revenue bonds to finance Blackthorn Golf Course improvements.
<br />Investors in the revenue bonds rely solely on the revenue generated by the individual activities for
<br />repayment. Summary financial information for the Blackthorn Golf Course is presented below.
<br />48
<br />Due
<br />Beginning
<br />Ending
<br />Within
<br />Prim,a„ry Government
<br />Balance
<br />Additions
<br />Reductions
<br />Balance
<br />One Year ...
<br />Governmental activities:
<br />Bonds payable:
<br />General obligation
<br />$
<br />935,000
<br />$
<br />$ 615,000
<br />$ 320,000
<br />$ 320,000
<br />Revenue
<br />82,135,000
<br />5,485,000
<br />3,395,000
<br />84,225,000
<br />3,540,000
<br />Mortgage
<br />29,525,289
<br />920,000
<br />1,451,232
<br />28,994,057
<br />1,656,933
<br />Total bonds payable
<br />112,595,289
<br />6,405,000
<br />5,461,232
<br />113,539,057
<br />5,516,933
<br />Notes and loans payable
<br />7,948,868
<br />2,510,278
<br />919,375
<br />9,539,771
<br />1,028,647
<br />Capital leases
<br />2,971,007
<br />1,177,900
<br />694,280
<br />3,454,627
<br />740,870
<br />Compensated absences
<br />3,815,919
<br />3,975,595
<br />3,135,211
<br />4,656,303
<br />3,297,602
<br />Net pension obligation
<br />40,669,182
<br />19,555,811
<br />-
<br />60,224,993
<br />Total governmental activities
<br />long -term liabilities
<br />$
<br />168,000,265
<br />$ 33,624,584
<br />$ 10,210,098
<br />$ 191,414,751
<br />$ 10,584,052
<br />Business -type activities:
<br />Revenue bonds payable:
<br />Water Utility
<br />$
<br />20,530,000
<br />$
<br />$ 2,245,000
<br />$ 18,285,000
<br />$ -
<br />Wastewater Utility
<br />14,625,000
<br />1,150,000
<br />13,475,000
<br />1,180,000
<br />Blackthorn Golf Course
<br />4,660,000
<br />-
<br />430,000
<br />4,230,000
<br />445,000
<br />Total revenue
<br />bonds payable
<br />39,815,000
<br />-
<br />3,825,000
<br />35,990,000
<br />1,625,000
<br />Mortgage bonds payable
<br />1,056,415
<br />-
<br />42,435
<br />1,015,980
<br />43,665
<br />Capital leases payable
<br />520,389
<br />1,571,605
<br />381,961
<br />1,710,033
<br />390,833
<br />Notes and loans payable
<br />21730,271
<br />421,175
<br />1,491,582
<br />20,659,864
<br />1,316,500
<br />Total business -type activities
<br />long -term liabilities
<br />$
<br />63,124,075
<br />$ 1,992,780
<br />$ 5,740,978
<br />$$ 59375,877
<br />$ 3,375,998
<br />Compensated absences for governmental activities typically have been liquidated from the gen-
<br />eral fund and special revenue funds. All of the December 31, 2005, business -type activities' com-
<br />pensated absences are due within one year.
<br />H. Segment Information
<br />The primary government issued revenue bonds to finance Blackthorn Golf Course improvements.
<br />Investors in the revenue bonds rely solely on the revenue generated by the individual activities for
<br />repayment. Summary financial information for the Blackthorn Golf Course is presented below.
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