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assets before transfers Transfers

5,101,256 (1.791,635)

6,031,624 (12,983.804) (6.952,180)

384,552 1,791,635 2.176.187

572,199 12.983.804 13.556.003

5,485,808

6.603,823

Increase in net assets

3,309,621

5,485,808

6.603,823

Water and sewer

^_

4.729.163

4,292,005

4.292,005

4.292,005

Total expenses

16,026.994

17.163.446

4.729,163

4,292,005

20,759,157

21.455,451

25,324.237

39,541.064

71,199.249

50,244,582

96.523,486

89,785,646

262,092

(7.264.647)

1.982.190

7,398.664

2,244,282

134.017

25.586,329

32.276.417

73.181,439

57.643.246

98,767.768

89.919.663

S 28,895,950

$ 25.324.237

$ 75,357,626

S 71.199.249

5104,253,576

$ 96,523,486

Shop Housing rehab Interest on long-term debt Other

Increase (decreases) in net

Beginning net assets Prior period adjustments

Beginning net assets, restated Ending net assets

259,153

249,445

913,833

748,848

259,153

249,445

913,833

748,848

GOVERNMENTAL ACTIVITIES. Governmental activities increased the City of Sulphur's net assets by $3.3 million. Transfers totaling $1.8 million to the enterprise fund (water and sewer services) contributed to the decrease in net assets. The transfers were mainly used to fund the waste water expansion project and other capital improvement projects.

Revenues from governmental activity decreased by $2.1 million (8.9 percent) for the current fiscal year. In the prior year, the City received 1.9 million in reimbursement grants from FEMA related to hurricane Rita. Sales taxes decreased by $0.2 million (1.3 percent) during the current fiscal year. The major sources of revenue for governmental activities are: sales tax (62 percent), other taxes such as property taxes and franchise taxes (14 percent), program revenues (12 percent), and other (12 percent).

Expenses from governmental activity decreased by $1.1 million (6.6 percent) for the current fiscal year. Public safety comprises 49.6 percent of total governmental activity expenses; 22.5 percent for police services and 27.1 percent for fire protection and prevention. Street maintenance and upgrading accounted for 23.1 percent of governmental activity expenditures.

Program revenues covered 16.1 percent of governmental operating expenses in the current fiscal year. Taxes and other genera) revenues fund remaining 83.9 percent of the governmental activities. The table below presents total cost and net cost of each of the City's programs. The net cost reflects total cost less revenues generated by the activity.

Governmental Activities

Total Cost of Services S 2,823,058

Net Cost ofServiccs $ 1.661,860

3,704,175 3,606,916 4.349,760 370,099 259,153 913.833

2,511.212 3,606,916 4,119.389 370,099 259J53 913,833

$16.026,994

$13,442,462

General government Public safety

Police Fire Streets Inspection/animal control Shop Interest on long-term debt

Total

10

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