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The enterprise funds, all of which are considered to be major funds of the City, are reported separately as proprietary
<br />fund financial statements in the basic financial statements. Conversely, all internal service funds are combined into a
<br />single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the internal service
<br />funds is provided as other supplementary information in the form of combining statements at G-1, G-2, and G-3.
<br />The City adopts an annual appropriated budget for all proprietary funds. To demonstrate compliance with the budget,
<br />budgetary comparison statements have been provided for the enterprise funds as other supplementary information at F-
<br />1 though F-5. Budgetary comparisons for the internal service funds are provided as other supplementary information at
<br />G-4 through G-8. The proprietary fund financial statements can be found at Exhibits 6, 7, and 8 in the basic financial
<br />statements.
<br />Notes to the basic financial statements.
<br /> The notes provide additional information that is essential for a full
<br />understanding of the data provided in the government-wide and fund financial statements. They are an integral part of
<br />the financial statements and should be read in conjunction with them.
<br />Required supplementary information.
<br /> In addition to the basic financial statements and accompanying notes, this
<br />report also presents certain required supplementary information concerning budgetary comparisons for the general and
<br />major special revenue funds, information about the City’s progress in funding its obligation to provide pension and other
<br />post employment benefits to its employees, and the budget to GAAP reconciliation schedule.
<br />Other supplementary information
<br />. The combining statements and schedules referred to earlier and the schedules of
<br />property tax and bonded debt transactions follow the required supplementary information in this report.
<br />Government-wide Financial Analysis
<br />As noted earlier, net assets may serve over time as a useful indicator of a government’s financial position. In the case
<br />of the City, assets exceeded liabilities by $730.3 million at the close of the fiscal year ending June 30, 2007.
<br />City of Eugene's Net Assets
<br />Governmental ActivitiesBusiness-type ActivitiesTotal
<br />200720062007200620072006
<br />Capital assets$368,160,483352,260,363230,714,398223,926,247598,874,881576,186,610
<br />Other assets252,053,219254,880,04040,628,95537,432,392292,682,174292,312,432
<br /> Total assets 620,213,702607,140,403271,343,353261,358,639891,557,055868,499,042
<br />Noncurrent liabilities110,722,635133,782,8475,866,60710,181,379116,589,242143,964,226
<br />Other liabilities38,834,07923,636,4095,816,3863,211,29044,650,46526,847,699
<br /> Total liabilities149,556,714157,419,25611,682,99313,392,669161,239,707170,811,925
<br />Net assets:
<br /> Invested in capital assets,
<br /> net of related debt317,131,090289,352,542223,938,416215,793,591541,069,506505,146,133
<br /> Restricted60,354,92261,462,2206,580,8676,183,65666,935,78967,645,876
<br /> Unrestricted93,170,97698,906,38529,141,07725,988,723122,312,053124,895,108
<br /> Total net assets$470,656,988449,721,147259,660,360247,965,970730,317,348697,687,117
<br />The largest portion of the City’s net assets are its investment in capital assets (e.g., land and right-of-way, buildings,
<br />improvements, equipment, and infrastructure, net of accumulated depreciation) of $541.1 million (74.1%), less any
<br />related debt used to acquire those assets that is still outstanding. Although the City’s investment in its capital assets is
<br />reported net of related debt, the resources needed to repay this debt must be provided from other sources since the
<br />capital assets themselves cannot be used to liquidate these liabilities.
<br />An additional portion of the City’s net assets, $66.9 million (9.2%), represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of net assets $122.3 million (16.7%) are unrestricted and
<br />may be used to meet the government’s ongoing obligations to citizens and creditors.
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