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38i
Government-Wide Financial Statements
Governmental
Business-Type
Activities
Activities
Deferred Outflows of Resources
Unamortized Bond Refunding Charges
226,280
$
4,051,634
$
Pension Deferrals
19,108
3,626
Current Year Pension Contributions
8,560,781
1,624,893
Accumulated Decrease in Fair Value of
Hedging Derivatives
566,943
Subtotal Deferred Outflows of Resources
$9,373,112
5,680,153
$
Deferred Inflows of Resources
Prepaid Taxes
127,823
$
$
Prepaid Assessments
13,402
Pension Deferrals
5,729,319
1,087,463
Subtotal Deferred Inflows of Resources
5,870,544
$
$1,087,463
Unearned Revenues
Prepaid Privilege License Fees
18,604
$
$
Prepaid Business Permit Fees
2,100
Prepaid Rents
720,559
Promotional Fees in Advance
327,229
Grant Revenues
2,650,999
Other unearned contributions
319,627
Subtotal Unearned Revenues
2,991,330
$
1,047,788
$
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.