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General Fund 2011 Year End Reports (PDF)
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JAMES R. MURGIA FINANCE DIRECTOR jmurgia@ town.canton.ma.us (781) 575-6612 TO: Board of Selectmen FROM: DATE: August 15, 2011 SUBJECT: Jim Murgia, Finance Director at Town of Canton, Massachusetts DEPARTMENT OF FINANCE KATHLEEN D. BUTTERS TOWN ACCOUNTANT kbutters@town.canton.ma.us (781) 575-6605 MEMORIAL HALL 801 WASHINGTON STREET CANTON, MA 02021 PHONE: 781-575-6610 FAX: 781-575-6608 town.canton.ma.us SUSAN E. DESJARDINS ASST. TREASURER/COLLECTOR sdesjardins@town.canton.ma.us MEMORANDUM (781) 821-5008 LOUIS M. JUTRAS INFORMATION SYSTEMS MANAGER ljutras@town.canton.ma.us (781) 821-5069 General Fund’s Fiscal 2011 Operating Results Having recently closed the books for fiscal 2011, the Finance Department prepared the attached reports for your review. The Summary of Revenues and Expenditures report compares actual revenue and expenditures for fiscal 2011 against revised budgets. We budgeted revenues to be $69.9 million and expenditures to be $71.3 million. The $1,390,000 deficit was funded from use of free cash reserve of $890,000 and $500,000 of overlay surplus. Annual town meeting voted to use the following reserves in fiscal 2011: Supplement School Operating Budget Supplement Snow & Ice budget Transfer to Stabilization Fund Total Free Cash Reserve Used Overlay Surplus Used to Fund fiscal 2011 operating budget Total Reserves Budgeted $ 440,000 250,000 200,000 $._890,000 500,000 $1,390,000 For fiscal 2011 we actually experienced an operating deficit of $424,353 which was $965,647 better than expected. The reasons for the improved results are as follows: Local receipts (auto excise taxes, FEMA reimbursement) $ 715,802 Tax title revenue 224,631 State aid surplus 57,979 Transfers from other funds (bond premium) 21,950 Property tax revenue shortfall (abatements) (425,435) Total surplus revenue 594,927 Unspent appropriations (primarily fixed costs and state charges) 370,720 Total $965,647
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General Fund’s Fiscal 2011 Operating Results August 15, 2011 Page 2 of 2 The revenue report (2 pages) shows the general fund revenue in more detail. Fiscal 2011’s revenues were $3.2 million or 4.7% more than last year’s, primarily due to property taxes which increased as a result of the operating override. In fiscal 2009 we received a $7.2 million reimbursement from the Massachusetts School Building Authority (MSBA) for Canton High School. Since this project was voted as a debt exclusion, we have reserved this revenue to offset future debt service costs. Fiscal 2011’s share of this $7.2 million reimbursement amounted to $561,412. The expenditure report (4 pages) shows departments’ operating expenses for fiscal 2011. These expenditures (including encumbrances) totaled $70.5 million or $366,003 less than budget. The expenditure most favorable to budget in fiscal 2011 was Cherry Sheet Assessments which was about $84,000 less than budget, due to the state charging us less than expected. Other large favorable budgets include Snow and Ice ($62,000) due to FEMA reimbursement, Street Lights ($43,000), Fire Department ($46,000), Animal Control ($33,000) and Town Insurance ($28,000). The last report is a balance sheet as of June 30, 2011 showing the general fund along with totals of other funds, which was prepared for the Department of Revenue to certify our free cash reserve balance. We estimate the general fund’s free cash reserve to be approximately $2.0 million as of June 30, 2011. Please know that further adjustments made by the Department of Revenue could significantly change this amount. I hope you will find this information to be useful. If you have any questions or comments, please let me know. JRM/ej Attachments ce: John Bonnanzio, Chairman, School Committee Kathy Butters, Town Accountant William T. Friel, Town Administrator Jeff Granatino, Superintendent of Schools Alan Hines, Chairman, Finance Committee Ken Leon, School Business Manager
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SUMMARY OF REVENUE AND EXPENDITURES FY 2011 FY 11 Actuals Actuals vs. Revised Budget As of 6/30/11 Revised Budget GENERAL FUND REVENUE: PROPERTY TAX REVENUE 55,544,530 55,119,095 (425,435) STATE AID 6,809,660 6,867,639 57,979 LOCAL RECEIPTS 4,936,363 5,652,165 715,802 TRANSFERS FROM OTHER FUNDS 2,642,443 2,664,393 21,950 TAX TITLE / FORECLOSURE REVENUE 0 224,631 224,631 TOTAL REVENUE 69,932,996 70,527,923 594,927 GENERAL FUND EXPENDITURES: PUBLIC SCHOOL EXPENSES 30,502,315 30,502,314 1 MUNICIPAL EXPENSES 15,655,151 15,518,935 136,216 FIXED COSTS 23,570,305 23,424,488 145,817 TOTAL OPERATING EXPENSES 69,727,771 69,445,737 CASH CAPITAL EXPENDITURES 462,107 457,390 TRANSFER TO STABILIZATION FUND 200,000 200,000 STATE & COUNTY CHARGES 933,118 849,149 TOTAL EXPENDITURES 71,322,996 70,952,276 370,720 OPERATING SURPLUS((DEFICIT) - GENERAL FUND 965,647
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01-PROPERTY TAXES 10011 PERSONAL PROPERTY TAXES 10012 REAL ESTATE TAXES TOTAL: 01-PROPERTY TAXES 02-LOCAL RECEIPTS 10015 MO'TOR VEHICLE EXCISE 10017 PENALTIES & INTEREST 10018 PAYMENTS IN LIEU OF TAXES 10032 FEES 10036 RENTALS 10037 OTHER DEPARTMENT REVENUE 10041 ALCOHOL LICENSES 10042 OTHER LICENSES 10045. PERMITS 10054 OTHER FED. REVENUE DIRECT 10077 FINES AND FORFEITS 10082 EARNINGS ON INVESTMENTS 10084 OTHER MISC. REVENUE 10085 REIMBURSEMENTS TOTAL: 92-LOCAL RECEIPTS 03-STATE AID 10062 EDUCATION DIST & REIMB. 10066 GEN GVMT REIMB & DISTRIB TOTAL: 03-STATE ALD 04-TRNS. FROM OTHER FUNDS 10097 OTHER FIN SRC-TRANSFERS TOTAL: 04-TRNS. FROM OTHER FUNDS W:\Munis\MCR Library\Budget reports\Canton Revenue Report.rpt TOWN OF CANTON, MA REVENUE REPORT SUMMARY OF REVENUE ACCOUNTS FOR FUND As of June 30 FY 2011 FY 2011 FY 2011 ORIGINAL REVISED YTD ___ BUDGET __ BUDGET ACTUAL 2,500,000 2,500,000 2,876,029 53,044,530 53,044,530 52,243,066 ~~ $5,544,530 55,544,530 55,119,095 3,000,000 3,000,000 3,289,549 200,000 200,000 305,814 201,363 201,363 199,225 150,000 150,000 186,949 175,000 175,000 190,799 75,000 75,000 89,753 65,000 65,000 69,430 45,000 45,000 82,282 400,000 400,000 494,738 0 0 82,037 150,000 150,000 145,599 150,000 150,000 115,322 25,000 25,000 33,302 300,000 300,000 367,368 4936363 4,936,363 5,652,165, 4,637,118 4,637,118 4,036,418 2,172,542 2,172,542 2,269,809 6,809,660 6,809,660 6,306,227 2,391,336 2,641,336 2,664,393 2,391,336 2,641,336 2,664,393 Page | of 2 % OF ANNUAL BUDGET 109.7 152.9 98.9 124.6 109.0 119.7 106.8 182.8 123.7 0.0 97.1 100.9 100.9 FY 2010 YTD ACTUAL 2,631,461 49,536,715 52,168,176 3,080,022 317,161 199,299 186,898 174,902 76,510 65,790 44,755 548,359 0 123,576 125,704 629,497 309,153 5,881,625 4,208,331 2,185,032 6,393,363 2,167,263 2,167,263 FY 2011 YTD ACTUAL vs FY 2010 YTD ACTUAI $$ VARIANCE % VARIANC | 244,568 9.3 2,706,351 5.5 “2,950,919 53.7 209,526 6.8 (11,347) (3.6) (74) 0.0 51 0.0 15,898 91 13,243 173 3.640 5.5 37,527 83.9 (53,622) (9.8) 82,037 0.0 22,023 17.8 (10,381) (8.3) (596,195) (94.7) 58,215 18.8 (171,913) (4.1) 84,777 3.9 — (87,136) (1.4) 497,130 22.9 "497,130 22.9 8/12/2011
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TOWN OF CANTON, MA REVENUE REPORT SUMMARY OF REVENUE ACCOUNTS FOR FUND As of June 30 FY 2011 FY 201 FY 2011 % OF FY 2010 FY 2011 YTD ACTUAL vs ORIGINAL REVISED YTD ANNUAL YTD FY 2010 YTD ACTUAL. BUDGET BUDGET ACTUAL _BUDGET ACTUAL $$ VARIANCE % VARIANC! 05-TAX LIENS/FORECLOSURES 10014. TAX LIENS/TAX TITLES 0 0 224,631 0.0 193,859 30,772 15.9 TOTAL: 05-TAX LIENS/FORECLOSURES 0 0 224,631 0.0 193,859 30,772 15.9 GRAND TOTAL 69,681,889 69,931,889 69,966,511 100.0 66,804,286 3,162,225 47 W:\Munis\MCR Library\Budget reports\Canton Revenue Report.rpt Page 2 of 2 8/12/2011
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129 151 154 179 195 910 133 135 145 155 176 241 192 193 194 199 632 220 221 231 232 400 W:\Munis\MCR Library\Budget reports\Canton Expense Report.rpt EXECUTIVE OFFICE TOWN COUNSEL HUMAN RESOURCES DEPT PLANNING DEPARTMENT TOWN REPORTS EMPLOYEE CONTRACT BENEFIT TOTAL 01-Executive Branch DIRECTOR OF FINANCE ACCOUNTANT TREASURER/TAX COLLECTOR INFORMATION SYSTEMS TOTAL 02-Finance Dept ZONING BOARD BUILDING DEPARTMENT TOTAL 03-Building & Zoning PUBLIC BLDGS/PROP MAINT POLICE STATION MAINT. PUBLIC SAFETY FACILITY ARMANDO RECREATION FACILITY PEQUITSIDE FARM TOTAL 05-Municipal Buildings FIRE DEPARTMENT FIRE ALARMS, BOXES, ETC AMBULANCE SERVICE UNMANNED AMBULANCE TOTAL 06-Fire Dept PUBLIC WORKS ADMINISTRATI TOWN OF CANTON OPERATING EXPENSES BY VOTING CATEGORY FUND 100 EXCLUDING ARTICLES As of June 30 for Fiscal Years 2010 - 2011 ORIGINAL REVISED EXPENDEDYTD % OF TOTAL BUDGET BUDGET THRU BUDGET EXPENDED & FYI! FYLU June 30 FY 11 ENCUM. YTD 399,745 399,745 403,763 101.0 403,763 232,585 257,585 273,728 106.3 273,728 78,949 78,949 84,317 106.8 84,317 4,320 4,320 1,348 31.2 1,348 7,500 7,500 3,384 45.1 3,384 173,147 173,147 154,332 89.1 154,332 896,246 921,246 920,872 157,064 157,064 155,954 183,702 193,702 173,926 195,426 195,426 203,114 316.411 386,761 331,571 852,603 932,953 864,564 92.7 924,764 34,711 36.811 42,175 114.6 44,312 283,958 292,148 271,843 93.0 277,973 318,669 328,959 314,018 322,285 382,520 309,592 291,874 94.3 291,874 10,467 14,542 15,434 106.1 15,434 7,187 7,187 7,246 100.8 7,246 8,923 8,923 8,527 95.6 8,527 23,674 23,674 40,495 17h 40,495 432,771 363,918 363,576 99.9 363,576 4,059,204 4,147,801 4,105,166 99.0 4,106,582 22,075 21,075 12,314 58.4 12,314 353,181 353,181 357,396 101.2 357,396 1,428 1,428 1,000 4,435 888 4,523,485 4.475.876 282,805 282,805 266,310 94.2 266,310 Page | of 4 % OF BUDGET FYI 101.0 106.3 106.8 312 REMAINING BUDGET FY 11 (4,018) (16,143) (5,368) 2,972 4.116 % OF BUDGET FYI (1.0) (6.3) (6.8) 68.8 54.9 (715) 19,776 (7,688) (3,185) 8,189 (7,501) 14,175 6,674 17,718 (892) (59) 396 (16,821) 341 Date: 8/12/2011 FISCAL YEAR 2010 REVISED EXPENDED % OF BUDGET Y-T-D BUDGET 385,615 372,680 96.6 420,585 477,839 113.6 77,069 77,636 100.7 6,320 5,229 82.7 11,000 3,899 35.4 127,993 90,312 06 _ 1,028,582 _1,027,596 99.9 152,774 154,052 100.8 186,876 168,928 90.4 213,523 211,771 99.2 369,974 297,284 80.4 923,147 832,034 90.1 34,297 30,150 87.9 278,197 265,752 95.5 312,494 295,902 94.7 376,941 362,841 96.3 10,467 11,206 107.1 7,187 11,769 163.7 8,923 8,867 99.4 23.674 24,357 102.9 427,192 419,039 98.1 3,976,759 3,962,642 99.6 22,075 19,834 89.8 353,181 360,584 102.1 1,428 2,000 140.1 4,353,443 4,345,060 99.8 274,880 272,565 99.2
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410 420 421 425 426 427 491 492 493 542 630 131 149 171 182 184 198 210 244 291 292 297 541 543 547 69 692 W:\Munis\MCR Library\Budget reports\Canton Expense Report.rpt ENGINEERING DEPARTMENT HIGHWAY MAINTENANCE SIDEWALKS STREET SIGNS & TRAFFIC GAS & OIL FUND HIGHWAY EQUIPMENT MAINT CEMETERY MAINT TREE DEPARTMENT TREE WARDEN & SHADE TREES TOTAL 07-Public Works YOUTH SERVICES RECREATION & PLAYGROUND TOTAL 08-Recreation & Playgrn FINANCE COMMITTEE WATER/SEWER RATE POLICY CONSERVATION COMMISSION CAPITAL OUTLAY & PLANNING BUILDINGS RENOVATIONS COM UNPAID BILLS. POLICE DEPARTMENT SEALER OF WEIGHTS & MEAS EMERGENCY MANAGEMENT ANIMAL CONTROL OFFICER TOWN EMERGENCY CLEANUP COUNCIL ON AGING VETERANS SERVICES DEPARTMENT DISABILITY COMMISSION HISTORICAL COMMISSION BEAUTIFICATION COMMITTEE TOWN OF CANTON OPERATING EXPENSES BY VOTING CATEGORY FUND 100 EXCLUDING ARTICLES As of June 30 for Fiscal Years 2010 - 2011 ORIGINAL BUDGET FYI 174,015 700,232 20,050 44,200 71,890 312,974 159,102 123,198 REVISED BUDGET FY11 174,015 704,029 20,050 62,147 71,890 312,974 159,102 123,198 89,145 EXPENDED YTD THRU June 30 177,206 744,100 0 66,943 105,893 271,481 143,403 134,809 % OF BUDGET FY 101.8 105.7 0.0 107.7 147.3 86.7 90.1 109.4 1,977,611 3,667 378,605 382,272 11,500 1,000 66,578 2,556 3,381 0 3,817,920 7,500 2,335 122,082 0 202,920 129,390 2,565 3,669 1,378 1,999.35 3,667 387,605 391,272 11,500 1,000 68,431 2,556 3,381 0 3,904,920 7,500 3,335 122,082 0 202,962 189,390 2,565 3,669 1,378 1,991,310 2,955 388,264 391,219 9,557 0 66,483 256 237 0 3,898,935 6,750 3,330 89,492 0 202,915 187,663 Sl 2,944 1,030 83.1 97.2 10.0 7.0 0.0 99.8 90.0 99.9 73.3 0.0 100.0 99.1 2.0 80.2 74.8 TOTAL % OF REMAINING % OF EXPENDED & BUDGET BUDGET BUDGET ENCUM. YTD FY11 FYI FY11 177,206 101.8 (3,191) (1.8) 748,332 106.3 (44,303) (6.3) 0 0.0 20,050 100.0 66,943 107.7 (4,796) (7.7) 105,893 147.3 (34,003) (47.3) 271,481 86.7 41,493 13.3 143,403 90.1 15,699 134,809 109.4 (11,611) 81,163 910 7,982 1,995,541 99.8 3,814 0.2 2,955 80.6 712 19.4 388,264 100.2 (659) (0.2) 391,219 100.0 53 0.0 9,557 83.1 1,943 16.9 0 0.0 1,000 100.0 68,337 99.9 95 0.1 256 10.0 2,300 90.0 237 7.0 3,144 93.0 0 0.0 0 0.0 3,898,935 99.8 5,985 0.2 6,750 90.0 750 10.0 3,330 99.9 5 0.1 89,492 73.3 32,590 26.7 0 0.0 0 0.0 202,915 100.0 47 0.0 187,663 99.1 1,727 09 51 2.0 2,514 98.0 3,669 100.0 0 0.0 1,030 74.8 348 25.2 Page 2 of 4 FISCAL YEAR 2010 REVISED EXPENDED BUDGET Y-T-D 169,996 168,567 729,648 712,646 20,050 0 44,200 58,163 71,890 67,655 305,431 310,139 155,254 162,269 119,806 122,354 86,943 80,491 3,667 2,743 383,491 384,402 387,158 387,145 12,703 7,359 1,000 261 66,684 64,688 2,556 7 3,381 230 0 0 3,700,156 3,700,007 7,500 6,750 8,335 7,603 139,713 100,428 8,875 0 201,606 201,562 154,747 154,512 2,565 329 3,669 3,616 4,120 4,118 Date: 8/12/2011 % OF BUDGET 99.2 977 0.0 131.6 94.1 101.5 104.5 102.1 1000 26.1 97.0 0.3 68 0.0 100.0 90.0 91.2 71.9 0.0 100.0 99.8 12.8 98.6 99.9
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TOWN OF CANTON OPERATING EXPENSES BY VOTING CATEGORY FUND 100 EXCLUDING ARTICLES As of June 30 for Fiscal Years 2010 - 2011 FISCAL YEAR 2010 ORIGINAL REVISED EXPENDED YTD % OF TOTAL % OF REMAINING % OF REVISED EXPENDED % OF BUDGET BUDGET THRU BUDGET EXPENDED & BUDGET BUDGET BUDGET BUDGET Y-T-D BUDGET FY i1 FYI June 30 FY 11 ENCUM. YTD FY11 FY 11 FY11 TOTAL 09-Stand Alone “4374774 4,524,669 4,469,644 «= 98.8 «4A72,222,— OK SSC*SABRS | 37610 © 4251,471 98.5 141 ASSESSORS 239,099 244,099 231,796 95.0 241,296 241,390 234,705 97.2 175 PLANNING BOARD 56,121 57,371 54,120 94.3 55,370 57,511 52,467 91.2 510 HEALTH DEPARTMENT 320,962 320,962 308,465 96.1 308,465 304,974 298,695 97.9 610 LIBRARY 978,292 978,292 978,270 100.0 978,270 968,545 968,262 100.0 TOTAL 10-Elected Board “1,594,474 1,600,724 ‘1,572,652 98.2 ‘1,583,402 1,572,420 1,554,128 98.8 161 TOWN CLERK 161,975 162,527 163,711 163,711 100.7 (1,184) (0.7) 156,402 166,415 106.4 163 ELECTIONS & REGISTRAR'S 32,868 38,868 36,876 36,876 94.9 1,992 5.1 32,868 21,221 64.6 TOTAL 11-Town Clerk/Elections 201,395 200,587 200,587 808 04 189,270 187,636 99.1 TOTAL 01-MUNICIPAL 15,460,151 15,787,977 15,564,318 98.6 15,651,760 99.1 136,216 0.9 15,489,413 15,254,861 98.5 710 PRINCIPAL PAYMENTS 4,160,841 4,160,841 4,184,053 100.6 4,184,053 100.6 (23,212) (0.6) 4,054,750 4,058,550 751 LONG-TERM INTEREST PAYMENTS 1,813,909 1,813,909 ‘1,813,909 100.0 1,813,909 100.0 0 0.0 1,808,216 1,917,841 752 SHORT-TERM INTEREST PAYMENTS 137,665 49,340 25,066 50.8 25,066 50.8 24,274 49.2 158,950 38,102 TOTAL 12-Debt Service “6112415 6,024,090 6,023,028. 1000 ~=—-—=—=«6,023,028.+=««dst00.0-—=“C*S*é‘iSDSC“‘<‘i CO 6,014,493 132 RESERVE FUND 300,000 0 0 0.0 0 0.0 0 0.0 92,250 0 0.0 422 STREET LIGHTING 215,000 179,317 129,292 2A 135,984 75.8 43,333 24.2 239,000 172,218 TA 423 SNOW & ICE REMOVAL 184,721 809,721 720,897 89.0 747,773 92.3 61,948 17 597,771 597,771 100.0 433 TRASH COLLECTION 1,422,992 1,429,695 ‘1,360,331 95.1 1,426,575 99.8 3,120 0.2 1,408,692 1,330,272 94.4 840 BLUE HILLS REGIONAL 1,387,713 1,460,438 ‘1,460,438 100.0 1,460,438 100.0 0 0.0 1,321,631 1,321,631 100.0 911 RETIREMENT BENEFITS 2,981,987 2,981,987 2,976,695 99.8 2,976,695 99.8 5,292 0.2 2,875,438 2,870,146 99.8 913 UNEMPLOYMENT COMPENSATION 100,000 100,000 100,000 100.0 100,000 100.0 0 0.0 100,000 100,000 100.0 914 EMPLOYER SHARE-HEALTH INS 9,736,797 9,817,397 9,814,770 100.0 9.814.770 100.0 2,627 0.0 8,957,669 8,952,221 99.9 915 EMPLOYER SHARE-LIFE INS 58,680 58,680 58,666 100.0 58,666 100.0 14 0.0 58,680 55,575 94.7 946 TOWN INSURANCE 765,000 765,000 736,579 96.3 736,579 96,3 28,421 37 765,000 675,428 88.3 990 TRANSFERS OUT 0 0 0 0.0 0 0.0 0 0.0 0 0 0.0 TOTAL 15-Mise. Fixed 17,152,890 17,602,235 98.6 17,457,479 99.2 144,755 08 16,416,131 16,075,262 919 ‘W.\Munis\MCR L ibrary\Budget reports\Canton Expense Report.rpt Page 3 of 4 Date: 8/12/2011
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TOWN OF CANTON OPERATING EXPENSES BY VOTING CATEGORY ORIGINAL BUDGET FY 11 TOTAL 02-FIXED EXPENSES 23,265,305 300 SCHOOL DEPARTMENT 30,502,315 TOTAL 17-School Admin 30,502,315 TOTAL 03-SCHOOL 30,502,315 820 CHERRY SHEET ASSESSMENTS 749,073 830 COUNTY TAX-CHERRY SHEET 184,045 TOTAL 19-State & County Chgs 933,118 TOTAL 05-STATE & COUNTY CHGS 933,118 GRAND TOTALS : 70,160,889 W:\Mums\MCR Library\Budget reports\Canton Expense Report.rpt FUND 100 EXCLUDING ARTICLES As of June 30 for Fiscal Years 2010 - 2011 REVISED EXPENDED YTD % OF TOTAL BUDGET THRU BUDGET EXPENDED & Fyi1 June 30 FY 11 ENCUM. YTD 23,626,325 23,380,696 99.0 23,480,508 30,538,972 30,234,220 99.0 30,538,971 30,538,972 30,234,220 99.0 30,538,972 30,234,220 99.0 749,073 665,115 88.8 665,115 184,045 184,034 100.0 184,034 933,118 849,149 91.0 849,149 933,118 49 91.0 $49,149 70,886,391 70,028,384 98.8 70,520,388 Page 4 of 4 % OF BUDGET 98.4 99.2 99.2 100.0 100.0 FISCAL YEAR 2010 % OF REMAINING % OF REVISED EXPENDED BUDGET BUDGET BUDGET BUDGET Y-T-D FY11 FY 11 FY 11 99.4 145,817 0.6 22,438,047 22,089,754 100.0 1 0.0 29,080,556 28,838,384 100.0 0.0 29,080,556 28,838,384 100.0 0.0 29,080,556 28,838,384 83,958 41.2 753,423 753,332 11 179,546 179,546 83,969 91.0 83,969 9.0 932,969 932,878 99.5 366,003 0.5 67,940,985 67,115,878 Date: 8/12/2011 100.0
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TOWN OF CANTON COMBINED BALANCE SHEET AS OF JUNE 30, 2011 #100 #1014299 #300-#399 #600-#700 4801-4890 #970 GENERAL SPECIAL CAPITAL ENTERPRISE TRUSTS AND LONG-TERM TOTALS FUND REVENUE PROJECTS FUNDS AGENCY ACCOUNT GROUP ALL FUNDS ASSETS CASH AND SHORT TERM INVESTMENTS 14,109,078.22 5,270,066.04 440,178.93 2,179,771.67 10,150,267 65 0.00 32,149,362.51 DEPARTMENTAL RECEIVABLES 0.00 345,227.03 0.00 0.00 0.00 0.00 345,227.03 INTERFUND RECEIVABLES 0.00 72,400.00 0.00 0.00 0.00 0.00 72,400.00 EXCISE TAX RECEIVABLE 519,692 37 0.00 0.00 0.00 0.00 0.00 519,692.37 PERSONAL PROPERTY TAX RECEIVABLE 62,337.09 0.00 0.00 0.00 0.00 0.00 62,337.09 REAL ESTATE TAX RECEIVABLE 739,412.08 0.00 0.00 0.00 0.00 0.00 739,412.08 OTHER RECEIVABLES 0.00 0.00 0.00 677,998.44 0.00 0.00 677,998.44 TAX LIENS 846,361.75 0.00 0.00 28,958.86 0.00 0.00 875,320.61 USER CHARGES RECEIVABLE 0.00 0.00 0.00 322,735.44 0.00 0.00 322,735.44 UTILITY LIENS ADDED TO TAXES 0.00 0.00 0.00 497,451.00 0.00 0.00 497,451.00 AMOUNT PROVIDED FOR BONDS 0.00 0.00 0.00 23,101,280.00 0.00 42,939,415.00 66,040,695.00 OTHER ASSETS 8,134.09 0.00 0.00 0.00 1,048,401.68 0.00 4,056,535.77 TAX FORECLOSURES 257,921.90 0.00 0.00 0.00 0.00 0.00 257,921.90 CONSTRUCTION IN PROGRESS 0.00 0.00 1,157,503.69 1,169,992.98 0.00 0.00 2,327,496.67 TOTAL ASSETS 16,542,937.50 5,687,693.07 1,597,682.62 27,978,188.39 11,198 669.33 42,939,415.00 105,944,585.91 LIABILITIES ACCOUNTS PAYABLE 4,034,788.96 98,851.25 6,703.01 462,647.54 807,197.42 0.00 2.410,188.18 ACCRUED PAYROLL 2,615,354.56 140,578.00 0.00 0.00 0.00 0.00 2,755,932.56 iINTERFUND PAYABLES 0.00 0.00 0.00 72,400.00 0.00 0.00 72,400.00 BONDS PAYABLE 0.00 0.00 0.00 23,101 ,280.00 0.00 42,939,415.00 66,040,695.00 DEFERRED REVENUES 2,046,654.77 345,227.03 0.00 867,464.07 0.00 0.00 3,259,345.87 NOTES PAYABLE 0.00 0.00 1,225,308.00 600,000.00 0.00 0.00 1,825,308.00 OTHER LIABILITIES 66,597.77 16,289.10 0.00 0.00 1,592,781 .33 0.00 1,675,668.20 PROVISIONS FOR ABATEMENTS AND EXEMPTIONS 379,070.42 0.00 0.00 0.00 0.00 0.00 379,070.42 WITHHOLDINGS PAYABLE 382,056.36 0.00 0.00 0.00 0.00 0.00 382,056.36 TOTAL LIABILITIES 6 524,522.84 600,945.38 1,232,011.01 25,103,791.61 2,399,978.75 42,939,415.00 78,800,664.59 FUND EQUITY RESERVE FOR ENCUMBRANCES-CURRENT YR 828,595.26 0.00 0.00 54,838.62 0.00 883,433.88 RESERVE FOR EXPENDITURES 540,000.00 0.00 0.00 55,000.00 0.00 595,000.00 RESERVE FOR PETTY CASH & OTHER ASSETS 625.00 150.00 0.00 50.00 0.00 825.00 RESERVE FOR EXCLUDED DEBT 6,033,902.00 0.00 0.00 0.00 0.00 6,033,902.00 RESERVE FOR DEPOSITS 0.00 0.00 0.00 0.00 1,048,401.68 1,048,401 68 RESERVE FOR UNSPENT CONSTRUCTION PROCEEDS 0.00 0.00 365,671.61 640,840.51 0.00 1,006,512.12 UNRESERVED FUND BALANCE 2,615,292.40__ 5,086,597.69 0.00 2,123,667.65 7.750.288.90 17,575,846.64 TOTAL FUND EQUITY 10,018.414.66 5,086,747.69 365,671.61 2,874,396.78 8,798,690.58 27,143,921.32 TOTAL LIABILITIES AND FUND EQUITY 16,542.937.50 _5,687,693.07 1,597 ,682.62 27,978, 188.39 11,198 669.33 42,939,415.00 _105,944,585.91 Fy 11 Balance Sheets xis Combined Balance Sheets 8/15/2014