CAFR 2017

Government-Wide Financial Statements Governmental Business-Type Activities Activities

Deferred Outflows of Resources Unamortized Bond Refunding Charges

$

1,167,838 29,418,409 10,412,705

3,113,089 $

Pension Deferrals

5,409,052 1,671,143

Current Year Pension Contributions Accumulated Decrease in Fair Value of Hedging Derivatives Subtotal Deferred Outflows of Resources

318,402

41,317,354 $

10,193,284 $

Deferred Inflows of Resources Prepaid Taxes

$

16,692 17,282

$

Prepaid Assessments

Pension Deferrals

3,795,990 3,829,964

537,150 537,150

Subtotal Deferred Inflows of Resources

$

$

Unearned Revenues Prepaid Privilege License Fees Prepaid Business Permit Fees

$

17,325

$

1,600

Prepaid Rents

606,187 147,632

Promotional Fees in Advance

Grant Revenues

2,548,149

Unearned contributions/donations Subtotal Unearned Revenues

324,719

$

2,891,793

$

753,819

8. Long-Term Liabilities Long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business- type activities, or proprietary fund-type statement of net position in the government-wide financial statements, and proprietary fund-types in the fund financial statements. Bond premiums and discounts and losses on extinguishment of debt are unearned and amortized over the life of the bonds using the effective interest method. These latter amounts are now classified as Deferred Outflows of Resources. Bond issuance costs are expensed in the reporting period in which they are incurred. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs during the current period. The face amount of debt issued is reported as an “Other Financing Source”. Premiums received on debt issuances are reported as “Other Financing Sources” while discounts on debt issuances are reported as “Other Financing Uses”. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures as “Fees and Other”. 9. Fund Equity In the governmental fund financial statements, the fund balances are composed of five classifications designed to disclose the spending hierarchy of constraints placed on how fund balance can be spent. The City reports nonspendable funds, restricted, committed, assigned and unassigned fund balances. Fund balances are further segregated into the following classifications: Nonspendable Fund Balance - This classification includes amounts that cannot be spent because they are either not in spendable form or legally or contractually required to be maintained intact. Amounts that cannot be spent due to form, include inventories, prepaid amounts, long-term amounts of loans and notes receivable funds permanently held for cemetery care and property held for resale, unless future property sale proceeds are restricted, committed or assigned. Inventories and Miscellaneous Prepaids - This represents that portion of fund balance segregated for year-end inventories of supplies and prepaid items such as rent and postage; these are current assets and do not represent available spendable resources.

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