My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Item 4D: Resolution Acknowledging Receipt of CAFR
COE
>
City of Eugene
>
Council Agendas 2008
>
CC Agenda - 01/14/08 Work Session
>
Item 4D: Resolution Acknowledging Receipt of CAFR
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/9/2010 12:47:21 PM
Creation date
1/11/2008 8:56:02 AM
Metadata
Fields
Template:
City Council
City_Council_Document_Type
Agenda Item Summary
CMO_Meeting_Date
1/14/2008
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
197
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Under Oregon Revised Statutes, general obligation debt issues are limited to 3% of the real market value of all taxable <br />property within the City’s boundaries. The $39.7 million in general obligation debt applicable to this limit, less $0.3 <br />million in funds currently held to pay the principal thereof, is well below the $597.9 million ceiling. The City’s net direct <br />general obligation bonded debt per capita is $267. <br />Additional information on the City’s bonded debt can be found in the note 4(J) to the basic financial statements. <br />Fund-based Financial Analysis <br />As previously discussed, the City uses fund accounting to ensure and demonstrate compliance with finance-related <br />legal requirements. <br />. <br />Governmental funds <br /> The focus of the City’s governmental funds is to provide information on near-term inflows, <br />outflows, and balances of spendable resources. Such information is useful in assessing the City’s financing <br />requirements. In particular, unreserved fund balance may serve as a useful measure of a government’s net resources <br />available for spending at the end of the fiscal year. <br />As of the end of the current fiscal year, the City’s governmental funds reported combined ending fund balances of $96.8 <br />million, a decrease of $2.5 million in comparison to the prior year. Approximately 95.3% of this total amount ($92.3 <br />million) constitutes unreserved fund balance, which is available for spending at the government’s discretion, subject to <br />reporting fund-type limitations. The remainder of fund balance is reserved, indicating that it is not available for new <br />spending because it has already been committed to pay for debt service ($0.8 million), or has been reserved for other <br />purposes ($3.7 million). Reservations of fund balance for other purposes include 1) prepaid expenditures for rentals, <br />memberships, and maintenance contracts, 2) inventories unexpended at the end of the year, and 3) assets held for <br />resale at June 30, 2007. <br />The fund balance of the City’s General Fund decreased $2.1 million from $33.3 million to $31.2 million during the <br />current fiscal year. The key factors in the decrease was a $3.4 million increase in police expenditures, a $1.7 million <br />increase in library, recreation, and cultural services expenditures, a $1.5 million increase in transfers out to the <br />Transportation Utility Fund, a $1.4 million increase in fire and emergency medical services expenditures, which was <br />offset by a $3.6 million increase in tax revenues, and a $2.4 million increase in intergovernmental revenues. <br />The fund balance in the Community Development Special Revenue Fund decreased $0.3 million from $1.9 million to <br />$1.6 million during the current fiscal year. The decrease is the result of a $1.8 million increase in planning and <br />development expenditures, which was offset by a $1.1 million increase in intergovernmental revenues, and a $0.4 <br />million decrease in capital outlay expenditures. <br />The fund balance in the General Capital Projects Fund decreased $2.2 million from $7.8 million to $5.6 million during <br />the current fiscal year. The decrease in the fund balance was caused by current year expenditures of $6.7 million, <br />which were in excess of current year revenues requiring the utilization of $2.2 million in resources accumulated in prior <br />years. <br />The fund balance in the Systems Development Capital Projects Fund experienced a decrease of $1.6 million from $15.5 <br />million to $13.9 million during the current fiscal year. The decrease was largely due to a $2.1 million increase in current <br />year capital outlay expenditures that were funded by prior year’s resources. <br />. <br />Proprietary funds <br /> The City’s proprietary fund statements provide the same type of information found in the <br />government-wide financial statements, but in more detail. <br />Unrestricted net assets and its percent to total net assets of each proprietary fund are as follows: <br />$ 1.9 million (63.0%) <br /> Ambulance Transport <br />4.8 million (6.2%) <br /> Municipal Airport <br />4.8 million (22.7%) <br /> Parking Services <br />7.9 million (15.7%) <br /> Stormwater Utility <br />3.4 million (3.3%) <br /> Wastewater Utility <br />îð <br />
The URL can be used to link to this page
Your browser does not support the video tag.