COG Comprehensive Annual Financial Report

represents an acquisition of net position that applies to a future period and so will not be recognized as revenue until then. The City has certain items that meet the criterion for this category – prepaid taxes, prepaid assessments, deferrals of pension expense, and deferrals of Other Post Employment Benefit expense. In addition, property tax and other accounts receivable are included at the fund level in the financial statements. The City reports unearned revenue on its government-wide and fund financial statements. Unearned revenues arise when potential revenue does not meet both the “measureable” and “available” criteria for recognition in the current period (fund financial statements). Unearned revenues also arise when resources are unearned by the City and received before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures (fund financial statements and government-wide financial statements). In subsequent periods, when both revenue recognition criteria are met, or when the City has a legal claim to the resources, the liability for unearned revenue is removed from the applicable financial statement and revenue is recognized. Deferred Outflows/Inflows of Resources and Unearned Revenues in the fund and basic financial statements at June 30, 2018 are composed of the following:

Fund Financial Statements

Deferred Outflows of Resources

Proprietary Funds Unamortized Bond Refunding Charges Water Resources Fund Pension Deferrals: Water Resources Fund Stormwater Management Fund ColiseumFund Solid Waste Management Fund Other Non-Major Enterprise Fund Internal Service Funds Current Year Pension Contributions: Water Resources Fund Stormwater Management Fund ColiseumFund Solid Waste Management Fund Other Non-Major Enterprise Fund Internal Service Funds Subtotal Deferred Outflows of Resources

$ 4,338,939

$ 1,627,200 308,286 625,967 173,280 57,760 1,083,698

3,876,191

1,140,297 216,038 438,660 121,430 40,477 759,426

2,716,328 $ 10,931,458

38g