Comprehensive Annual Financial Report (2009)
Total Page:16
File Type:pdf, Size:1020Kb
ON THE COVER Photographs by Laura Tucker Bowling Green Ballpark, home of the Bowling Green Hot Rods, is a Single A affiliate of the Tampa Bay Rays. In its first season, the Hot Rods drew over 230,000 fans. The ballpark was constructed with the assistance of $25 million of general obligations bonds issued by the City of Bowling Green. City of Bowling Green Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2009 Issued by the Department of Finance CITY OF BOWLING GREEN TABLE OF CONTENTS YEAR ENDED JUNE 30, 2009 Page INTRODUCTORY SECTION Letter of Transmittal ................................................................................................................ 1-7 GFOA Certificate of Achievement for Excellence in Financial Reporting ....................................8 Organizational Chart ...................................................................................................................9 Directory - Principal Officials ..................................................................................................... 10 FINANCIAL SECTION Independent Auditor's Report ......................................................................................... 11-12 Management's Discussion and Analysis ........................................................................ 13-24 Basic Financial Statements Government Wide Financial Statements Statement of Net Assets ..................................................................................................... 25 Statement of Activities ........................................................................................................ 26 Fund Financial Statements Governmental Fund Financial Statements Balance Sheet ................................................................................................................. 27 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets ......................................................................................... 28 Statement of Revenues, Expenditures and Changes in Fund Balances .......................... 29 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ...................... 30 Proprietary Fund Financial Statements Statement of Net Assets - Proprietary Funds ................................................................... 31 Statement of Revenues, Expenses and Changes in Net Assets - Proprietary Funds ........................................................................................... 32 Statement of Cash Flows - Proprietary Funds ................................................................. 33 Fiduciary Fund Financial Statements Statement of Fiduciary Net Assets ................................................................................... 34 Statement of Changes in Fiduciary Net Assets ................................................................ 35 Component Units Financial Statements Statement of Net Assets .................................................................................................. 36 Statement of Activities ..................................................................................................... 37 CITY OF BOWLING GREEN TABLE OF CONTENTS - CONTINUED YEAR ENDED JUNE 30, 2009 Notes to Financial Statements ................................................................................... 38-69 Required Supplementary Information Budgetary Comparison Schedules - Major Funds (General and Special Revenue) General Fund ................................................................................................................ 70-71 WKU Athletics Special Revenue Fund ................................................................................ 72 Job Development Incentive Special Revenue Fund ........................................................... 73 ITA Bond Special Revenue Fund ........................................................................................ 74 TIF District Special Revenue Fund ..................................................................................... 75 Notes to Required Supplementary Information on Budgetary Accounting and Control ....... 76 Pension Schedules Schedule of Funding Progress – Policemen and Firemen’s Retirement Fund .................... 77 Schedule of Employer Contributions – Policemen and Firemen’s Retirement Fund ........... 77 Modified Approach for City Streets Infrastructure Capital Assets ............................ 78-80 Combining and Individual Fund Statements and Schedules Nonmajor Governmental Funds Combining Balance Sheet - Nonmajor Governmental Funds ............................................. 87 Combining Balance Sheet - Nonmajor Special Revenue Funds ................................... 88-89 Combining Balance Sheet - Nonmajor Capital Projects Funds ..................................... 90-91 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds ............................................................ 92 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Special Revenue Funds ................................................. 93-94 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Capital Projects Funds ................................................... 95-96 Budgetary Comparison Schedule: Community Development Special Revenue Fund ........................................................... 97 Fire Improvement Special Revenue Fund........................................................................ 98 Municipal Aid Special Revenue Fund .............................................................................. 99 Parks Development Special Revenue Fund .................................................................. 100 Landfill Closure Special Revenue Fund ......................................................................... 101 Local Law Enforcement Block Grant Special Revenue Fund ......................................... 102 Trunking Operation Special Revenue Fund ................................................................... 103 Neighborhood Grant Special Revenue Fund ................................................................. 104 Technology Special Revenue Fund ............................................................................... 105 Homeland Security Special Revenue Fund ................................................................... 106 Police Improvement Special Revenue Fund .................................................................. 107 CITY OF BOWLING GREEN TABLE OF CONTENTS - CONTINUED YEAR ENDED JUNE 30, 2009 Nonmajor Governmental Funds - continued Budgetary Comparison Schedule - continued: Lampkin Park Trust Fund............................................................................................... 108 Parks Community Center Capital Projects Fund ............................................................ 109 SKyPAC Development Fund ......................................................................................... 110 Downtown Development Fund ....................................................................................... 111 Riverfront Development Capital Projects Fund .............................................................. 112 Equipment Replacement Capital Projects Fund ............................................................ 113 Southwest Corridor Capital Projects Fund ..................................................................... 114 Road Construction Capital Projects Fund ...................................................................... 115 Downtown Signalization Capital Projects Fund .............................................................. 116 Broadway Curve Realignment Capital Projects Fund .................................................... 117 Field Drive Extension Capital Projects Fund .................................................................. 118 Old Morgantown Road Rehab Capital Projects Fund .................................................... 119 Heritage Trail Construction Capital Projects Fund ......................................................... 120 Parks Improvement Capital Projects Fund ..................................................................... 121 Shive Lane Development Capital Projects Fund ............................................................ 122 Sidewalk Improvement Capital Projects Fund ............................................................... 123 Greenwood Fire Station Construction Capital Projects Fund ......................................... 124 Fire Headquarters Expansion Capital Projects Fund ..................................................... 125 Greenwood Lane Construction Capital Projects Fund ................................................... 126 Stormwater Infrastructure Improvements Capital Projects Fund .................................... 127 Municipal Facilities Capital Projects Fund ...................................................................... 128 Fire Airport Expansion Capital Projects Fund ................................................................ 129 Debt Service Fund ......................................................................................................... 130 Internal Service Funds Combining Statement of Net Assets ................................................................................