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The City of Fort Wayne

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The City of Fort Wayne City of Fort Wayne, Indiana 2014 Comprehensive Annual Financial Report for the year ended December 31, 2014 Thomas C. Henry Patricia A. Roller, CPA Mayor Controller COMPREHENSIVE ANNUAL FINANCIAL REPORT City of Fort Wayne, Indiana Year Ended December 31, 2014 Patricia A. Roller, CPA Director of Finance and Administration City Controller Valerie A. Ahr Deputy Controller TABLE OF CONTENTS Page(s) Table of Contents........................................................................................................................................... 1-3 I. INTRODUCTION Mayor’s Letter of Transmittal......................................................................................................................... 5 Chief Financial Officer’s Letter of Transmittal................................................................................................ 6-12 Locator Maps................................................................................................................................................. 13-15 Organization Chart......................................................................................................................................... 16 List of Principal Officials................................................................................................................................. 17 Department Details........................................................................................................................................ 18-30 GFOA Certificate of Excellence .................................................................................................................... 31 Fort Wayne at a Glance................................................................................................................................. 32 II. FINANCIAL SECTION Independent Auditor’s Report........................................................................................................................ 33-35 Management’s Discussion and Analysis........................................................................................................ 36-47 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position.................................................................................................................... 49 Statement of Activities......................................................................................................................... 50 Fund Financial Statements: Balance Sheet - Governmental Funds................................................................................................ 51 Reconciliation of the Balance Sheet to the Statement of Net Position - Governmental Funds........... 52 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds....... 53 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities - Governmental Funds ………................................................. 54 Statement of Net Position - Proprietary Funds.................................................................................... 55 Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Funds............. 56 Statement of Cash Flows - Proprietary Funds..................................................................................... 57 Statement of Net Position - Fiduciary Funds....................................................................................... 58 Statement of Changes in Net Position - Fiduciary Funds.................................................................... 59 Combining Statement of Net Position - Discretely Presented Component Units ............................... 60 Combining Statement of Activities - Discretely Presented Component Units ..................................... 61 Notes to the Financial Statements: 1. Summary of Significant Accounting Policies....................................................................................... 63-74 2. Deposits and Investments.................................................................................................................. 74-76 3. Capital Assets..................................................................................................................................... 77-79 4. Long-Term Debt................................................................................................................................. 80-87 5. Operating Leases............................................................................................................................... 87 6. Deficit Fund Balances......................................................................................................................... 88 7. Interfund Balances and Activity.......................................................................................................... 88-90 8. Risk Management............................................................................................................................... 90-91 1 TABLE OF CONTENTS (Continued) Page(s) 9. Segment Information.......................................................................................................................... 92 10. Other Postemployment Benefits......................................................................................................... 93-94 11. Conduit Debt....................................................................................................................................... 94 12. Restricted Assets................................................................................................................................ 95-96 13. Lease and Subsequent Installment Sale of Electric Utility Assets...................................................... 97 14. City of Fort Wayne Community Legacy Fund..................................................................................... 97-98 15. Net Investment in Direct Financing Lease.......................................................................................... 98 16. Unearned Revenue............................................................................................................................ 98 17. Deferred Inflows of Resources........................................................................................................... 98 18. Fund Balance Classification............................................................................................................... 99 19. Redevelopment Authority................................................................................................................... 100-101 20. Aqua Indiana Inc. - Asset Purchase and Settlement of Litigation....................................................... 101 21. Restatement - Change in Accounting Principle.................................................................................. 102 22. Commitments and Contingencies....................................................................................................... 102-103 23. Subsequent Events............................................................................................................................. 103 24. Net Investment in Capital Assets........................................................................................................ 104 25. Pension Plans..................................................................................................................................... 104-117 Required Supplementary Information: Budgetary Comparison Schedule - General Fund.................................................................................... 119 Budgetary Comparison Schedule - Major Special Revenue Funds.......................................................... 120-121 Infrastructure - Modified Reporting: Comparison of Budgeted–to-Actual Maintenance/Preservation......................................................... 122 Condition Rating.................................................................................................................................. 122 Schedule of Funding Progress................................................................................................................. 123 Schedule of Contributions from the Employer - Retiree Healthcare Plan................................................. 124 Schedule of Changes in the City's Net Pension Liability and Related Ratios........................................... 125-127 Schedule of City Contributions................................................................................................................. 128 Schedule of Investment Returns............................................................................................................... 129 Notes to Required Supplementary Information......................................................................................... 130-132 Supplementary Information: Major Governmental Funds: ............................................................................................................... 133 Schedule of Expenditures - Budget and Actual - General Fund.......................................................... 134-135 Budgetary Comparison Schedules - Other Budgeted Major Governmental Funds............................. 136 Non-major Governmental Funds: Non-major Governmental Funds - Information...................................................................................
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