1. FISCAL YEAR JUNE 30, 2016 ANNUAL FINANICIAL REPORTS
Department of Finance
FISCAL YEAR JUNE 30, 2016 ANNUAL FINANICIAL REPORTS
Finance-Audit Committee/City Council
March 13, 2017
Item C.1(Finance-Audit Committee); Item 15 (City Council)

2. City Net Position Trends
Department of Finance
Generally,
Assets – Liabilities = Net Position
On a full accrual basis, reflection of economic activity regardless of timeframe. For example, pension liability since 2015 is shown as part of the financial statements.
Large dip in Total Net Assets-pension $398.0 million.
Prior to 2015 was only footnoted.
Unrestricted Net Assets also a calculation, it’s what’s left over – since pensions on the books-negative.
CAFR page 18, bottom of page.
(Statement of Net Position) 2

3. City’s Change in Net Position
Department of Finance
Statement of Activities, CAFR pages 20-21
Also, on full accrual.
Did not show transfers.
Full accrual, in the black, although Pensions were brought in initially by a change in beginning fund balance in 2015. 3

4. City’s Pension and OPEB Liability
Department of Finance
Statement of Activities, CAFR pages 20-21
Also, on full accrual.
Did not show transfers.
Full accrual, in the black, although Pensions were brought in initially by a change in beginning fund balance in 2015. 4

5. General Fund, CAFR page 24
Department of Finance
Total revenues were $222.9 million compared to prior year revenues of $214.8 million.
Total expenditures were $204.3 million compared to prior year of $198.0 million.
Net transfers out were $14.5 million.
The general fund had a special item recognizing $11.1 million of PCDC loans reinstated after approval by the Department of Finance. While this increased the fund balance, no cash has been received.
The total increase in fund balance was $15.2 million.
Ending fund balance of $78.5 million.
CAFR page 24. Statement of Revenues, Expenditures and Changes in Fund Balance.
Now Modified Accrual, available/expected so could be spent in near future.
Total revenues increased $ 8.1 million.
Total expenditures increased $ 6.3 million
Net transfers in from other funds and out to other funds, netted to $14.5 (shown in detail on p. 108 and 109 FN 15.
Special item related to former PCDC of $11.1 put onto the books.
Ending Fund Balance of $78.5 million.

6. General Fund – CAFR Note 11, pages 101-103
Department of Finance
$12.3 million Nonspendable
$ million Restricted
$33.4 Committed-Emergency Contingency
$17.2 Assigned
$15.1 Unassigned
$78.4 Total Fund Balance
CAFR page 101 to 103, Footnote 11.
GASB 54 Definitions.
$33.4 Committed to Emergency Contingency Fund Balance (15.2%). [20% = ~$47.6 million]
Unassigned of $15.1 million

7. GASB Statement No. 54-Categories
Department of Finance
Nonspendable Fund Balance:
Not in spendable form-inventory or prepaids
Legally or contractually required to be kept intact, such as corpus or principal in a permanent fund.
Restricted Fund Balance:
Externally imposed by creditors, grantors, contributors, or laws or regulations of other governments; or
Imposed by law through constitutional provisions or enabling legislation.
Committed Fund Balance:
Committed to specific purpose by formal action by highest level of decision makers.
Uncommitted only through same level of formal action.
Required prior to end of reporting period. Amount may be subsequently determined.
First two categories:
Nonspendable and Restricted=What used to be considered reserved (not available for appropriation)
Terms meant to be more clear. 7

8. GASB Statement No. 54-Categories
Department of Finance
Assigned Fund Balance:
Amounts intended for a specific purpose.
Intent should be expressed by governing body or delegate who assigns amounts in accordance with policy established by the governing body.
Authority has been delegated to Finance Director for assignments of fund balance for financial statements.
Unassigned Fund Balance:
Residual classification for the General Fund for amounts not restricted, committed, or assigned.
General Fund only fund to present positive Unassigned fund balance.
Committed, Assigned, and Unassigned=what used to be unreserved.
Go over terms.