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Table 26.1

Table 26.1: Condensed Statement of Financial Position (Balance Sheet)
City of Charlottesville, Virginia
June 30, 2013 and 2012
Government Activities Business-Type Activities Total % Change
2013 2012 2013 2012 2013 2012 2012-13
Assets:
Current and other assets $118,730,524 $121,112,165 $37,059,160 $35,493,899 $155,789,684 $156,606,064 -0.50%
Capital Assets 203,690,956 194,061,621 62,999,055 55,332,589 266,690,011 249,394,210 6.90%
Total Assets 322,421,480 315,173,786 100,058,215 90,826,488 422,479,695 406,000,274 4.10%
Liabilities:
Long-Term Liabilities 79,625,798 80,531,511 42,290,011 36,779,678 121,915,809 117,311,189 3.90%
Other Liabilities 49,868,500 45,510,979 8,633,745 7,301,636 58,502,245 52,812,615 10.80%
Total Liabilities 129,494,298 126,042,490 50,923,756 44,081,314 180,418,054 170,123,804 6.10%
Net Position:
Net Investments in
Capital assets 105,462,444 122,164,890 37,760,064 21,862,917 143,222,508 144,027,807 -0.60%
Restricted
General Government 291,453 77,957 291,453 77,957 273.90%
Public Safety 321,917 458,127 321,917 458,127 -29.70%
Parks, Recreation & Culture 56,303 17,299 56,303 17,299 225.50%
Health & Welfare 1,272 521,103 1,272 521,103 -99.80%
Conservation & Development 1,520,702 5,327,678 1,520,702 5,327,678 -71.50%
Permanent Fund 162,501 162,501 162,501 162,501 0.00%
Unrestricted 85,110,590 60,401,741 11,374,395 24,882,257 96,484,985 85,283,998 13.10%
Total Net Position $192,927,182 $189,131,296 $49,134,459 $46,745,174 $242,061,641 $235,876,470 2.60%

Table 26.2

Table 26.2: Statement of Financial Position (Balance Sheet), Government Funds
Governmental Funds
City of Charlottesville, Virginia
June 30, 2013
capital Debt Social Other
General Projects Service Services Gov't.
Fund Fund Fund Fund Fund Total
Assets:
Cash & Cash Equivalents $ 18,737,769 $ 11,605,320 $ 12,201,576 $ 77,878 $ 1,122,150 $ 43,744,693
Investments 14,818,113 - 0 - 0 - 0 - 0 14,818,113
Interest receivable 71,632 - 0 - 0 - 0 - 0 71,632
Accounts receivable, net 283,472 - 0 - 0 5,830 15,188 304,490
Taxes receivable, net 29,142,873 - 0 - 0 - 0 - 0 29,142,873
Special assesments receivable - 0 3,997 - 0 - 0 - 0 3,997
Due from other governments (note 7) 2,967,586 4,532,258 512,808 5,363,027 13,375,679
Due from other funds (note 8) 3,372,154 - 0 - 0 - 0 - 0 3,372,154
Loans receivable (note 5) - 0 1,100,000 - 0 - 0 1,214,601 2,314,601
Total Assets 69,393,599 17,241,575 12,201,576 596,516 7,714,966 107,148,232
Liabilities & Fund Balances
Liabilities:
Accounts Payable 920,469 4,594,182 - 0 22,317 382,480 5,919,448
Accrued liabilities 2,594,499 - 0 30,790 179,381 1,241,084 4,045,754
Due to other governments - 0 - 0 - 0 - 0 1,211,471 1,211,471
Due to other funds (note 8) - 0 - 0 - 0 35,116 3,227,952 3,263,068
Deferred Revenue 27,972,383 - 0 - 0 - 0 - 0 27,972,383
Total Liabilities 31,487,351 4,594,182 30,790 236,814 6,062,987 42,412,124
Fund Balances: - 0
Nonspendable - 0 1,100,000 - 0 172,501 1,272,501
Restricted 545,723 8,950,111 - 0 359,702 176,222 10,031,758
Committed 6,737,955 2,597,282 12,170,786 - 0 21,506,023
Assigned 3,633,160 - 0 - 0 1,303,256 4,936,416
Unassigned 26,989,410 0 0 0 26,989,410
Total Fund Balances 37,906,248 12,647,393 12,170,786 359,702 1,651,979 64,736,108
Total Liabilities & Fund Balances $ 69,393,599 $ 17,241,575 $ 12,201,576 $ 596,516 $ 7,714,966 107,148,232
Total Fund Balances 64,736,108
Capital assets 202,407,200
Proporty taxes receivable 544,516
Net OPEB asset 708,822
Internal Service funds 11,775,338
Accrued interest payable (873,896)
Unamortized premium on bonds (4,170,431)
Bonds & Notes Payable (79,149,240)
Deferred amount of refunding (1,006,410)
Compensated absences (2,044,825)
Net Position of Government Activities $ 192,927,182

Table 26.3

Table 26.3 Statement of Revenues, Expenditures & Changes in Fund Balances
Governmental Funds
City of Charlottesville, Virginia
for the year ended June 30, 2013
Capital Debt Social Other
General Projects Service Services Govt
Fund Fund Fund Fund Funds Total
Revenues
Taxes $ 95,714,241 $ - 0 $ - 0 $ - 0 $ - 0 $ 95,714,241
Fees & permits 2,464,889 - 0 - 0 - 0 - 0 2,464,889
Intergovernmental 30,031,104 7,705,746 185,173 8,624,926 13,668,093 60,215,042
Charges for Services 5,731,381 - 0 - 0 - 0 4,875,921 10,607,302
Fines 392,763 - 0 - 0 - 0 392,763
Investment earnings 239,096 5,412 32,149 - 0 - 0 276,657
Miscellaneous 810,274 3,754,121 - 0 22,383 193,448 4,780,226
Total Revenues 135,383,748 11,465,279 217,322 8,647,309 18,737,462 174,451,120
Expenditures
Current:
General Government 14,438,666 913,557 - 0 - 0 - 0 15,352,223
Public Safety 31,444,547 118,276 - 0 - 0 424,609 31,987,432
Community service 7,933,104 2,309,752 - 0 - 0 8,281,270 18,524,126
Health & welfare 5,012,504 - 0 - 0 11,899,321 14,284,562 31,196,387
Parks, recreation & culture 11,355,857 796,468 - 0 - 0 77,414 12,229,739
Education 43,065,839 2,460,328 - 0 - 0 - 0 45,526,167
Conservation & development 4,899,680 2,858,009 - 0 - 0 1,006,943 8,764,632
Other activities 266,562 - 0 - 0 - 0 - 0 266,562
Debt Service: - 0
Principal - 0 - 0 6,430,175 - 0 - 0 6,430,175
Interest - 0 - 0 2,452,754 - 0 - 0 2,452,754
Miscellaneous - 0 - 0 87,599 - 0 - 0 87,599
Capital Outlay - 0 21,380,655 - 0 - 0 - 0 21,380,655
Total expenditures 118,416,759 30,837,045 8,970,528 11,899,321 24,074,798 194,198,451
Revenues over Expenditures 16,966,989 (19,371,766) (8,753,206) (3,252,012) (5,337,336) (19,747,331)
Other Financing Sources (uses)
Transfers in 5,608,472 7,810,768 9,671,009 3,127,218 4,829,576 31,047,043
Transfers out (24,751,601) (319,874) - 0 - 0 (37,298) (25,108,773)
Issuance of debt - 0 5,610,000 - 0 - 0 - 0 5,610,000
Premium on issuance of debt - 0 427,859 - 0 - 0 - 0 427,859
Total other financing sources (19,143,129) 13,528,753 9,671,009 3,127,218 4,792,278 11,976,129
Net change in fund balances (2,176,140) (5,843,013) 917,803 (124,794) (545,058) (7,771,202)
Fund Balance - July 1, 2012 40,082,388 18,490,406 11,252,983 484,496 2,197,037 72,507,310
Fund Balance - June 30, 2013 37,906,248 12,647,393 12,170,786 359,702 1,651,979 64,736,108
Net Change in Fund Balances (7,771,202)
Differences
Change in capital assets 22,573,753
Depreciation expense (8,291,446)
Change in school capital assets (5,327,130)
less revenues not reported in funds (173,301)
Debt proceeds 392,316
Changes in interest 181,491
Compensated absences (61,076)
Net OPEB obligation 708,822
Net internal service funds 1,563,659
Change in Net position of Governmental Activities $ 3,795,886

Table 26.4

Table 26.4 Small Town
Statement of Financial Position
as of December 31, 2013
Current Assets Current Liabilities
Cash $271,671 Accounts Payable $200,000
Temporary Cash Investments 619,941 Accrued Expenses 48,695
Accounts Receivable 45,918 Total Current Liabilities 248,695
Pledges Receivable 183,962 Long Term Liabilities
Prepaid Expenses 168,270 Mortgage 381,458
Total Current Assets 1,289,762
Total Liabilities 630,153
Long Term Assets Net Assets
Investments 2,033,200
Land, Buildings 1,612,164 Unrestricted 2,509,727
Other Assets 30,751 Temporarily Restricted 825,997
Total Long Term Assets 3,676,115 Permanently Restricted 1,000,000
Total Net Assets 4,335,724
Total Assets 4,965,877 Total Liabilities & Net Assets 4,965,877
Statement of Revenues, Expenditures and Changes in Net Position (Income Statement)
(January 1, 2013 to December 31, 20013)
Revenue
Contributions $565,032
Grants 1,182,215
Government Contracts 1,459,639
Fees and Membership Dues 529,243
Interest and Gains 86,637
Total Revenue $3,822,766
Expenses
Salaries $2,187,465
Benefits 475,454
Total PS 2,662,919
NPS
Accounting Fees 14,500
Legal Fees 1,000
Supplies 78,872
Telephone 22,145
Postage & Shipping 13,957
Rentals 101,289
Printing & Publications 48,062
Travel 170,060
Depreciation 100,242
Food 119,111
Admission Fees 77,966
Utilities 124,620
Insurance 115,107
Program Equipment 52,572
Maintenance 35,932
Other Program Expenses 59,250
Payroll Processing 14,916
Staff Development & Training 12,283
Total NPS 1,161,884
Total Expenses 3,824,803
Change in Net Assets ($2,037)

Table 26.5

Table 26.5 Ratio Analysis of Small Government Town
FY2006 FY2006
1.Current Ratio Current Assets $1,289,762 = 5.19
Current Liabilities $248,695
2. Working Capital Current Assets - Current Liabilities
$1,289,762 minus $248,695 = $1,041,067
3. Quick Ratio Quick Assets $1,121,492 4.51
Current Liabilities $248,695
4. Debt to Asset Ratio Total Liabilities $630,153 0.17
Total Assets $3,676,115
5. Days Payable Ratio All Accounts Payable x 365 Days $73,000,000 62.83 Days
NPS Expenses 1,161,884
6. Profit Margin Ratio Surplus $3,822,766 ($1,877)
Revenue ($2,037)
7. Common Size Ratio Line Item Amount Federal Grants $565,032 14.78%
Total Amount State Grants 1,182,215 30.93%
Property Taxes 1,459,639 38.18%
Fees 529,243 13.84%
Interest 86,637 2.27%
$3,822,766 100.00%

Table 26.6

Table 26.6: Statement of Financial Position (Balance Sheet), Government Funds
Governmental Funds
City of Charlottesville, Virginia
30-Jun-12
capital Social Other
General Projects Services Gov't.
Fund Fund Fund Fund Total
Assets:
Cash & Cash Equivalents $ 34,198,840 $ 18,734,173 $ 104,507 $ 12,923,486 $ 65,961,006
Interest receivable 51,752 - 0 - 0 - 0 51,752
Accounts receivable, net 294,821 - 0 8,429 59,423 362,673
Taxes receivable, net 28,733,247 - 0 - 0 - 0 28,733,247
Special assesments receivable - 0 16,813 - 0 - 0 16,813
Due from other governments (note 7) 2,971,744 1,076,694 690,794 6,672,170 11,411,402
Due from other funds (note 8) 4,640,987 - 0 - 0 - 0 4,640,987
Loans receivable (note 5) - 0 880,000 - 0 1,096,669 1,976,669
Total Assets 70,891,391 20,707,680 803,730 20,751,748 113,154,549
Liabilities & Fund Balances
Liabilities:
Accounts Payable 720,740 2,217,274 21,152 453,187 3,412,353
Accrued liabilities 2,595,114 - 0 207,020 1,312,962 4,115,096
Due to other governments - 0 - 0 - 0 1,099,364 1,099,364
Due to other funds (note 8) - 0 - 0 91,062 4,436,215 4,527,277
Deferred Revenue 27,493,149 - 0 - 0 - 0 27,493,149
Total Liabilities 30,809,003 2,217,274 319,234 7,301,728 40,647,239
Fund Balances:
Nonspendable - 0 3,143,710 - 0 172,501 3,316,211
Restricted 472,056 15,346,696 484,496 117,934 16,421,182
Committed 8,206,185 - 0 - 0 11,252,983 19,459,168
Assigned 4,542,491 - 0 - 0 1,906,602 6,449,093
Unassigned 26,861,656 - 0 - 0 - 0 26,861,656
Total Fund Balances 40,082,388 18,490,406 484,496 13,450,020 72,507,310
Total Liabilities & Fund Balances 70,891,391 20,707,680 803,730 20,751,748 113,154,549
Total Fund Balances 72,507,310
Capital assets 193,422,896
Proporty taxes receivable 658,227
Net OPEB asset - 0
Internal Service funds 10,211,679
Accrued interest payable (615,608)
Unamortized premium on bonds (4,043,536)
Bonds & Notes Payable (79,969,415)
Deferred amount of refunding (1,056,507)
Compensated absences (1,983,750)
Net Position of Government Activities 189,131,296

Table 26.7

Table 26.7 Statement of Revenues, Expenditures & Changes in Fund Balances
Governmental Funds
City of Charlottesville, Virginia
for the year ended June 30, 2012
Capital Social Other
General Projects Services Govt
Fund Fund Fund Funds Total
Revenues
Taxes $ 94,311,894 $ - 0 $ - 0 $ 94,311,894
Fees & permits 2,042,063 - 0 - 0 - 0 2,042,063
Intergovernmental 30,558,359 3,389,498 8,840,146 18,238,598 61,026,601
Charges for Services 5,210,751 - 0 - 0 4,855,159 10,065,910
Fines 552,075 - 0 - 0 - 0 552,075
Investment earnings 344,491 - 0 - 0 29,470 373,961
Miscellaneous 1,035,926 412,707 33,228 180,604 1,662,465
Total Revenues 134,055,559 3,802,205 8,873,374 23,303,831 170,034,969
Expenditures
Current:
General Government 14,091,746 1,025,586 - 0 - 0 15,117,332
Public Safety 30,415,583 712,528 - 0 1,103,322 32,231,433
Community service 7,570,743 3,723,628 - 0 12,278,761 23,573,132
Health & welfare 5,026,677 - 0 11,846,326 13,338,969 30,211,972
Parks, recreation & culture 10,180,840 342,448 - 0 63,571 10,586,859
Education 41,110,805 872,738 - 0 - 0 41,983,543
Conservation & development 4,751,424 7,860,705 - 0 1,099,776 13,711,905
Other activities 255,994 - 0 - 0 - 0 255,994
Debt Service: - 0 - 0 - 0 - 0 - 0
Principal - 0 - 0 - 0 6,611,249 6,611,249
Interest - 0 - 0 - 0 2,855,961 2,855,961
Miscellaneous - 0 - 0 - 0 196,062 196,062
Capital Outlay - 0 11,213,317 - 0 - 0 11,213,317
Total expenditures 113,403,812 25,750,950 11,846,326 37,547,671 188,548,759
Revenues over Expenditures 20,651,747 (21,948,745) (2,972,952) (14,243,840) (18,513,790)
Other Financing Sources (uses)
Transfers in 5,407,971 7,338,669 2,969,405 16,162,967 31,879,012
Transfers out (26,121,631) (543,095) - 0 (33,437) (26,698,163)
Issuance of debt - 0 9,133,200 - 0 - 0 9,133,200
Refunding bonds issued - 0 - 0 - 0 17,737,100 17,737,100
Premium on issuance of debt - 0 898,495 - 0 2,513,171 3,411,666
Payment to refunding bond escrow agent - 0 - 0 - 0 (20,195,331) (20,195,331)
Sale of capital assets - 0 352,000 - 0 - 0 352,000
Total other financing sources (20,713,660) 17,179,269 2,969,405 16,184,470 15,619,484
Net change in fund balances (61,913) (4,769,476) (3,547) 1,940,630 (2,894,306)
Fund Balance - July 1, 2012 40,144,301 23,259,882 488,043 11,509,390 75,401,616
- 0
Fund Balance - June 30, 2013 40,082,388 18,490,406 484,496 13,450,020 72,507,310
Net Change in Fund Balances (2,894,306)
Differences
Change in capital assets 15,554,651
Depreciation expense (8,811,928)
Property taxes (239,247)
Gain on sale of assets 252,742
New Debt Issued (9,133,200)
Principal payments 6,611,249
Changes in interest (185,391)
Amortization of bond premium (2,443,825)
Amortization of deferred amount of refunding (1,254,745)
Compensated absences (97,984)
Net internal service funds 2,228,391
Change in Net position of Governmental Activities (413,593)

Table26.8

Table 26.8 City A: Statement of Financial Position (Balance Sheet)
City A
Assets ($)
Cash 294,203
Investments 1,789,353
Receivables 379,756
Inventory 21,358
Other Non-Current Assets 32,249
Capital Assets (at cost)
Non-Depreciable 1,993,589
Depreciable Net 2,741,898
Total Assets 7,252,406
Liabilities ($)
Accounts Payable 97,899
Trust Liabilities and Deposits 37,628
Advance Payments 18,460
Matured Bonds Payable 90,640
Interest Payable 68,827
Non-Current Liabilities
Due in Less Than One Year 122,171
Due in More Than One Year 2,440,207
Total Liabilities 2,875,832
Net Assets ($)
Net Investment in Capital Assets 2,454,765
Restricted Assets 930,237
Unrestricted Assets 991,572
Total Net Assets 4,376,574
Total Liabilities & Net Assets 7,252,406

Table 26.9

Table 26.9 City B: Statement of Financial Position (Balance Sheet)
City B
Assets ($)
Cash 150,071
Investments 520,950
Receivables 222,793
Inventory 18,154
Other Non-Current Assets 1,027,412
Capital Assets (at cost)
Non-Depreciable 1,694,551
Depreciable Net 2,530,613
Total Assets 6,164,544
Liabilities ($)
Accounts Payable 583,214
Trust Liabilities and Deposits 31,984
Advance Payments 35,691
Matured Bonds Payable 77,044
Interest Payable 58,503
Non Current Liabilities
Due in Less Than One Year 103,845
Due in More Than One Year 2,054,176
Total Liabilities 2,944,457
Net Assets ($)
Net Investment in Capital Assets 586,550
Restricted Assets 1,790,701
Unrestricted Assets 842,836
Total Net Assets 3,220,087
Total Liabilities & Net Assets 6,164,544