06-02-25 - Council Work Session Agenda

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Management's Discussion and Analysis information presented for governmental activities in the government -wide financial statements. By doing so, readers may better understand the long-term impact of the City's near -term financial decisions. Both the governmental fund balance sheet and governmental fund statement of revenues, expenditures and change in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The City maintains six individual major governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balance for the following major funds: • General Fund • The Rookery Activity Center — Special Revenue Fund • G.O. Improvement Bonds of 2016B — Debt Service Fund • Capital Equipment Replacement — Capital Project Fund • Area and Unit Trunk — Capital Project Fund • MSA Construction — Capital Project Fund Data from the other governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. The basic governmental fund financial statements are statements 3 through 5 of this report. The City adopts annual appropriated budgets for the General Fund and The Rookery Activity Center Fund. Budgetary comparison schedules are presented as statements 10 and 11 of this report. Proprietary funds. The City maintains three enterprise funds as a part of its proprietary fund type. Enterprise funds are used to report the same functions presented as business -type activities in the government -wide financial statements. The City uses enterprise funds to account for its water, sewer, and storm water utilities. The proprietary fund statements provide the same type of information as the government -wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the Water, Sewer, and Storm Water Funds, which are considered to be major funds of the City. The basic proprietary fund financial statements are statements 7 through 9 of this report. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government —wide and fund financial statements. The notes to the financial statements can be found following statement 9. Other information. The combining statements referred to earlier in connection with non -major governmental funds are presented immediately following the required supplementary information. Combining and individual fund statements and schedules are presented as statements 19 through 26. 21