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CITY OF MYRTLE BEACH, SOUTH CAROLINA NOTES TO FINANCIAL STATEMENTS June 30, 2010

On June 1, 2001, the MBCCHC entered into a support facilities sublease with the City, which was subsequently amended on May 1, 2004. The support facilities sublease is for a portion of the convention center facilities. The support facilities sublease expires April 1, 2036 and requires the MBCCHC to make a $1 annual rental payment to the City.

Note 8 - RESTRICTED CASH AND TEMPORARY INVESTMENTS

The City’s restricted cash and temporary investments consisted of the following at June 30, 2010:

Governmental Activities: General Fund: Court Bonds Confiscated and Seized Funds Grant Funds Refundable Deposits Other Capital Improvements Fund: Bond Proceeds PUD Improvements Hospitality Fees Grant Funds Nonmajor Governmental Funds: Certificates of Participation Accounts Tax Increment Revenue Bond Accounts Storm Water Revenue Bond Accounts

$

$

630,459 352,044

1,580 160,289 104,900

142,787 554,738 3,149,397 43,033

60,375 10,207,358

1,068,073 16,475,033

Business-Type Activities: Water and Sewer Fund: Customer Deposits Waterworks and Sewer System Revenue Bond Accounts Baseball Stadium Fund: Certificates of Participation Accounts Renewal and Replacement Accounts

$

1,506,268 4,861,661

$

666,098 300,000 7,334,027

At June 30, 2010, the MBCCHC’s restricted cash and temporary investments consisted of revenue bond accounts totaling $4,057,212.

Note 9 - CAPITAL ASSETS (NET)

The City’s capital asset activity for the year ended June 30, 2010 was as follows:

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