Fort Walton Beach Council agenda — 03-19-12--special--audit — reading text

publicsafeq, 239 292459 295. 220 I' hco, rn en, nonmcnt 966. 050 951. 011 15. 039 Trensportatian 74. 950 652086 577. 136 Economic environment 17388 2. 383 239 2365. 851 Culture and reereanno 2. 609203 1675_465 884. 046 49. 693 Capital outla7 Debt service 211. 683 211. 683 pnreipal 243582 243582 Interest 377 377 Other debt s Trice east, 1. 881. 221 611. 795 20. 415. 421 17922. 405 TOTAL EXPENDITU RES EXCESS D F REVENU ES OV ER( UNDERI 424. 697) 3 264, 179) 13434.6791 404. 903) EXPENDITURES OTII ER FINANCING SOURCES ( USES) 493. 151 2284416 Transfer..In Iansfcrsran 1. 512. 791. 060) 265 71981) 44. 343) 628. 384) 71 981) 44& 808 1. 656. 032 1279. 20s TO' IAL OTHER FINANC ING SOURCES ( USES) 476. 884) 24. 111 1 508247) 1. 155. 474) NE I CHANGE IN FUND BAI ANCE 2311. 578 17738896 1162149334 4212984 FFND BALANCE- BEGINNING OF YEAR 2. 335689 16, 130649 S 10. 058. 860 3. 736 - 100 FOND BALANCE - END OF YEAR TheThe accompanyingaccompanying notesnotes areare anan integralintegral partpart ofof thesethese financialfinancial statements.statements. 1818 D.`D.`  F3 . EXHIBIT IVB City of Fort Walton Beach, Florida GOVERNMENTALFUNDS RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TO THE STATEMENT OF ACTIVITIES Year Ended September 30, 2012 1. 08,247) Net change in fund balances - total governmental finds ( page 18) Amounts reported for governmental activities in the statement of activities are different becausc Goveramental funds do not report capital assets on the balance sheet howcvcr. the, are reported in the government -wide financial statements. Governmental funds report capital outlays as expenditures, however, in the statement of activities. the cost of those assets is depreciated over the estimated useful lives of the assets. 2, 532.333 Expenditures for capital assets 1. 886.782) Less current year depreciatioNamortization ( 645. 551 Govenmental funds do not report capital assets on the balance sheet however. the, are reposed in the government -wide financial statements. Aceurdingly, proceeds received for disposals of capital assets are shown as income in the governmental financial statements and a gain or loss is reported in the statement of activities_ 782. 238) Disposals of capital assets and adjustments ( 549527 Accumulated depreciation associated o ith disposals and adjustments 232. 71 q ao Net transfer of capital assets and related lease liabilities from govemmcntal funds to NN proprietary Transfer fundsofcapital assets from business acticit, ( 1- 164) 1, 164 Accumulated depreciation associated with asset transfer Special assessment cocaine in the govemmcntal funds is recognized then due, however, the reteaue ons recognized in the Statement of Activities 111, 11 it was earned shat Special lesred) .assessment for street resurfacing ( 122(10) 58. 000 Special assessment for affordable housing 5. 917 Special assessment interest and penalties 51. 717 The issuance of long -term debt provides current financial resourccs 10 governmental funds. lhile the repayment of the principal of long -term debt continues the current financial resources ofgovemmental funds. Neither transaction, howcvcr. has any effect on net assets. Also. govemmental funds report the effect of issuance costs. premiums. discounts and similar items when debt is first issued. whereas these amounts are defend and amortized in the statement of activities. 211' 683 Debt principal payments 2- 179) Amortization of current %car band discount 10362) Amortization ofbond and note issue costs 1. 984 Change in accrued imeresl on lone -term debt 201. 126 Some expenses reported in the Statement of Activities do not require the use of current financial resourccs and therefore are not reposed as expenditures in govemmcnal funds. Net pension asset 223. 826 43, 816) Change in long -term compensated absences ( 3 17, A27) Change in other post -employment benefits ( 132 fit 7) s n u79. 58n Change in net asscts of govcmmcntal activities ( page 15) The accompanying notes are an integral part of these financial statements. 19 pac6t Pj!44