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CITY OF EUGENE, OREGON
<br />
<br />Notes to Basic Financial Statements
<br />
<br />continued
<br />(4) Detailed Notes on All Funds, continued
<br />
<br /> (F) Unavailable/Unearned Revenue
<br />
<br />Unavailable revenues are reported as a deferred inflow of resources in the governmental funds Balance Sheet.
<br />Unavailable revenues are reported in connection with receivables for revenues that are not considered to be available
<br />to liquidate liabilities of the current period.
<br />
<br />Unearned revenues are reported as a liability in the proprietary funds Statement of Net Position and governmental
<br />funds Balance Sheet. Unearned revenues are reported in connection with resources that have been received but not
<br />yet earned. The various components of unavailable/unearned revenue at June 30, 2019 consist of the following:
<br />
<br />Fund by type Unavailable Unearned Total
<br />Property taxes receivable:
<br /> General $ 4,191,491 0 4,191,491
<br /> Other governmental funds 886,355 0 886,355
<br />Assessments receivable:
<br /> Other governmental funds 230,542 0 230,542
<br />Systems development charges receivable:
<br /> Systems Development Capital 1,599,501 0 1,599,501
<br />Notes receivable:
<br /> Community Development 17,112,115 0 17,112,115
<br /> Other governmental funds 2,349,459 0 2,349,459
<br />Other:
<br /> General 1,248,134 4,865,545 6,113,679
<br /> Community Development 0 171,274 171,274
<br /> Municipal Airport 0 75,828 75,828
<br /> Parking Services 0 16,090 16,090
<br /> Stormwater Utility 0 19,020 19,020
<br /> Other governmental funds 1,807 325,892 327,699
<br />Total unavailable/unearned revenue $ 27,619,404 5,473,649 33,093,053
<br />
<br /> (G) Operating Leases
<br />
<br />The City conducts some of its operations from leased facilities located throughout the City. All such leases for
<br />facilities are classified as operating leases and expire within the next six years. The total rental expense for the year
<br />ended June 30, 2019 for operating leases was $1,079,607. Most of these leases for facilities contain an option
<br />whereby the City can, after the initial lease term, renew its lease for periods of one to ten years.
<br />
<br />The following is a schedule of future minimum rental payments required under operating leases that have initial or
<br />remaining non-cancelable lease terms in excess of one year as of June 30, 2019:
<br />
<br />Fiscal year
<br />ending June 30 Rentals
<br />2020 $ 1,248,576
<br />2021 1,217,111
<br />2022 868,349
<br />2023 396,480
<br />2024 190,530
<br />Total minimum future rentals $ 3,921,046
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<br />December 9, 2019, Meeting - Item 2CCC Agenda - Page 101
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