My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Item 5: Resolution on Receipt of FY12 URA Financial Report
COE
>
City of Eugene
>
Council Agendas 2013
>
CC Agenda - 01/14/13 Meeting
>
Item 5: Resolution on Receipt of FY12 URA Financial Report
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/11/2013 12:14:56 PM
Creation date
1/10/2013 2:05:35 PM
Metadata
Fields
Template:
City Council
City_Council_Document_Type
Agenda Item Summary
CMO_Meeting_Date
1/14/2013
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
53
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
Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over <br />resources that have been segregated for specific activities or objectives. The Agency uses fund accounting to <br />ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Agency are <br />governmental funds. <br />Governmental funds. Governmental funds are used to account for activities where emphasis is placed on <br />available financial resources, rather than upon net income determination. Therefore, unlike the government-wide <br />financial statements, governmental fund financial statements focus on the acquisition and use of current <br />spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such <br />information may be useful in evaluating a government’s near-term requirements. <br />Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is <br />useful to compare the information presented for governmental funds with similar information presented for <br />governmental activities in the government-wide financial statements. By doing so, readers may better understand <br />the long-term impact of the government’s near-term financial decisions. Both the governmental funds Balance <br />Sheet and the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances <br />provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. <br />These reconciliations can be found on Exhibits 3 and 5 of this report. <br />The Agency maintains two taxing districts within the urban renewal boundary: the Downtown District and the <br />Riverfront District. The Agency maintains five individual governmental funds to account for these two districts: a <br />general fund, a debt service fund, and a capital projects fund for the Downtown District; and a special revenue <br />fund and a capital projects fund for the Riverfront District. Information for each fund is presented separately in the <br />governmental funds Balance Sheet and in the governmental funds Statement of Revenues, Expenditures, and <br />Changes in Fund Balances. <br />The basic governmental fund financial statements can be found on Exhibits 3 and 4 of this report. <br />Notes to the basic financial statements. The notes provide additional information that is essential to a full <br />understanding of the data provided in the government-wide and fund financial statements. They are an integral <br />part of the financial statements and should be read in conjunction with them. <br />Required supplementary information. The Agency adopts an annual appropriated budget for all its funds. To <br />demonstrate compliance with the budget, budgetary comparison statements have been provided for the General <br />Fund and the Riverfront Special Revenue Fund as required supplementary information. <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 <br />case of the Agency, assets exceeded liabilities by $10,531,617 at the close of the most recent fiscal year. This <br />compares to net assets of $8,083,396 in the previous year. <br />A portion of the Agency’s net assets (39.8%) reflects its investment in capital assets (land, construction in <br />progress, improvements, and infrastructure). The Agency uses these capital assets to plan and develop <br />designated properties within the urban renewal boundary. Consequently, these assets are not available for future <br />spending. The remaining balance of net assets ($6,337,101) may be used to meet the government’s ongoing <br />obligations within the urban renewal boundary. <br />
The URL can be used to link to this page
Your browser does not support the video tag.