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City of Charlotte City of Charlotte North Carolina Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2013 City of Charlotte, North Carolina Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2013 Mayor: Patsy Kinsey Mayor Pro Tem: Patrick Cannon City Council: John Autry Michael Barnes Warren Cooksey Andy Dulin Claire Green Fallon David Howard Billy Maddalon LaWana Mayfield James Mitchell, Jr. Beth Pickering City Manager: Ron Carlee Prepared by the City of Charlotte Finance Department Greg C. Gaskins, Chief Financial Officer Teresa T. Smith, Chief Accountant This document is available online: CITY OF CHARLOTTE, NORTH CAROLINA TABLE OF CONTENTS Page INTRODUCTORY SECTION Letter of Transmittal ....................................................................................................................................... 1 Certificate of Achievement for Excellence in Financial Reporting ............................................................... 15 Organizational Chart .................................................................................................................................... 16 FINANCIAL SECTION Report of Independent Auditor .................................................................................................................... 17 Management’s Discussion and Analysis ..................................................................................................... 21 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position ............................................................................................................... 33 Statement of Activities .................................................................................................................... 34 Fund Financial Statements: Balance Sheet – Governmental Funds .......................................................................................... 36 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position .................................................................................................. 37 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ................................................................................... 38 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities................................ 39 Statement of Budgetary Comparison – General Fund ................................................................... 40 Reconciliation of the Statement of Budgetary Comparison to the Statement of Revenues, Expenditures and Changes in Fund Balances – General Fund ............................ 41 Statement of Net Position – Proprietary Funds .............................................................................. 42 Statement of Revenues, Expenses and Changes in Fund Net Position – Proprietary Funds ..................................................................................................................... 46 Statement of Cash Flows – Proprietary Funds............................................................................... 48 Statement of Fiduciary Net Position – Fiduciary Funds ................................................................. 52 Statement of Changes in Fiduciary Net Position – Fiduciary Funds .............................................. 53 Index to the Notes to the Financial Statements .................................................................................... 54 Notes to the Financial Statements ........................................................................................................ 56 CITY OF CHARLOTTE, NORTH CAROLINA TABLE OF CONTENTS-(Continued) Page FINANCIAL SECTION (continued) Combining and Individual Fund Statements and Schedules: Nonmajor Governmental Funds: Description .................................................................................................................................... 117 Combining Balance Sheet ............................................................................................................ 118 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ....................................................................................................................... 120 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (Non-GAAP Basis) – Special Revenue Funds (Budgeted Annually) .......................... 122 Schedule of Expenditures Compared with Authorizations: Democratic National Convention ........................................................................................... 125 Public Safety and Other Grants Fund .................................................................................... 126 Neighborhood Development Fund ......................................................................................... 127 Employment and Training Fund ............................................................................................. 128 Stimulus Grants Fund ............................................................................................................ 129 Emergency Telephone System Fund..................................................................................... 130 Debt Service and Capital Projects Funds: Description .................................................................................................................................... 131 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (Non-GAAP Basis) – Debt Service Fund .................................................................... 132 Schedule of Expenditures and Encumbrances Compared with Authorizations – Capital Projects Fund ............................................................................................................. 134 Enterprise Funds: Description .................................................................................................................................... 137 Water and Sewer: Schedule of Revenues, Expenditures and Transfers – Budget and Actual (Non-GAAP Basis): Operating Fund ................................................................................................................ 139 Debt Service Fund ........................................................................................................... 140 Schedule of Reconciliation of Budgetary (Non-GAAP Basis) to Full Accrual Basis .............. 141 Schedule of Expenditures and Encumbrances Compared with Authorizations – Capital Projects Fund ...................................................................................................... 142 CITY OF CHARLOTTE, NORTH CAROLINA TABLE OF CONTENTS-(Continued) Page FINANCIAL SECTION (continued) Combining and Individual Fund Statements and Schedules (continued): Enterprise Funds (continued): Storm Water: Schedule of Revenues, Expenditures and Transfers – Budget and Actual (Non-GAAP Basis): Operating Fund ................................................................................................................ 145 Debt Service Fund ........................................................................................................... 146 Schedule of Reconciliation of Budgetary (Non-GAAP Basis) to Full Accrual Basis .............. 147 Schedule of Expenditures and Encumbrances Compared with Authorizations – Capital Projects Fund ...................................................................................................... 148 Airport: Schedule of Revenues, Expenditures and Transfers – Budget and Actual (Non-GAAP Basis): Operating Fund ................................................................................................................ 151 Debt Service Fund ........................................................................................................... 152 Schedule of Reconciliation of Budgetary (Non-GAAP Basis) to Full Accrual Basis .............. 153 Schedule of Expenditures and Encumbrances Compared with Authorizations – Capital Projects Fund ...................................................................................................... 154 Public Transit: Schedule of Revenues, Expenditures and Transfers – Budget and Actual (Non-GAAP Basis): Operating Fund ................................................................................................................ 157 Debt Service Fund ........................................................................................................... 158 Schedule of Reconciliation of Budgetary (Non-GAAP Basis) to Full Accrual Basis .............. 159 Schedule of Expenditures and Encumbrances Compared with Authorizations – Capital Projects Fund ...................................................................................................... 160 Internal Service Funds: Description .................................................................................................................................... 163 Combining Statement of Net Position .......................................................................................... 164 Combining Statement of Revenues, Expenses and Changes in Fund Net Position .................... 165 Combining Statement of Cash Flows ........................................................................................... 166 CITY OF CHARLOTTE, NORTH
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