2006 Financial Report
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CITY OF COLUMBUS OHIO COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Fiscal Year Ended December 31, 2006 Issued by CITY AUDITOR HUGH J. DORRIAN City of Columbus, Ohio Comprehensive Annual Financial Report For the Fiscal Year Ended December 31, 2006 Issued by: City Auditor's Office Hugh J. Dorrian, CPA City Auditor City of Columbus, Ohio This page is left blank intentionally. INTRODUCTORY SECTION City of Columbus, Ohio COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Fiscal Year Ended December 31, 2006 Table of Contents INTRODUCTORY SECTION Exhibit Page No. Table of Contents ............................................................................................. 1 Letter of Transmittal......................................................................................... 7 GFOA Certificate of Achievement................................................................... 15 Organization Chart........................................................................................... 16 List of Principal Officials................................................................................. 17 City Auditor's Staff........................................................................................... 18 FINANCIAL SECTION Independent Auditors' Report........................................................................... 19 Management’s Discussion and Analysis.......................................................... 21 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets.................................................................... 1 41 Statement of Activities ..................................................................... 2 42 Fund Financial Statements: Balance Sheet – Governmental Funds.............................................. 3 44 Reconciliation of the Balance Sheet to the Statement of Net Assets – Governmental Funds ..................... 3.1 45 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds .................................... 4 46 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities – Governmental Funds....................... 4.1 47 Statement of Net Assets – Proprietary Funds ................................... 5 48 Statement of Revenues, Expenses, and Changes in Fund Net Assets – Proprietary Funds ...................................... 6 49 Statement of Cash Flows – Proprietary Funds.................................. 7 50 Statement of Fiduciary Assets and Liabilities– Fiduciary Funds ..... 8 52 Notes to the Financial Statements: A. Summary of Significant Accounting Policies.......................... 55 B. Commitments and Contingencies ............................................ 65 C. Cash and Investments .............................................................. 66 D. Receivables.............................................................................. 71 E. Due From and Due To/Interfund Receivables and Payables... 72 F. Capital Assets.......................................................................... 74 G. Bonds, Notes, Loans, and Capital Lease Payable.................... 75 1 City of Columbus, Ohio Notes to the Financial Statements (Continued) Exhibit Page No. H. Electricity................................................................................. 92 I. Property Leased to Others ....................................................... 94 J. Lease Commitments and Leased Asset.................................... 95 K. Pension Plans........................................................................... 96 L. Income Taxes........................................................................... 101 M. Property Taxes......................................................................... 101 N. Deficit Fund Equities............................................................... 102 O. Miscellaneous Revenues.......................................................... 102 P. Transfers.................................................................................. 103 Q. Joint Ventures: Columbus Regional Airport Authority, Franklin Park Conservatory Joint Recreation District, and The Affordable Housing Trust for Columbus and Franklin County ................................................................ 104 R. Component Units: Columbus Urban Growth Corporation and The RiverSouth Authority ....................................................... 106 S. Restatement of Beginning Fund Balances............................... 110 Required Supplementary Information .............................................................. 111 Budgetary Comparison Schedule – General Fund................................... 9 113 Notes to the Required Supplementary Information ................................. 114 Supplementary Information.............................................................................. 117 Major Governmental Funds: ................................................................... 119 Schedule of Expenditures – Budget and Actual Budget Basis • General Fund.................................................................. A-1 120 Schedules of Revenues, Expenditures and Changes in Fund Balances– Budget and Actual–Budget Basis • General Bond Retirement ............................................... A-2 125 • Special Income Tax......................................................... A-3 126 Other Governmental Funds: ..................................................................... 127 Combining Balance Sheet – Nonmajor Governmental Funds............................................... B-1 130 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds................................................ B-2 131 2 City of Columbus, Ohio Supplementary Information (Continued) Exhibit Page No. Schedules of Revenues, Expenditures, and Changes in Fund Balances– Budget and Actual–Budget Basis • HOME Program.............................................................. B-3 160 • HOPE Program............................................................... B-4 160 • Cable Communications................................................... B-5 161 • HUD Section 108 Loans................................................. B-6 161 • Fannie Mae Loans........................................................... B-7 162 • Land Management .......................................................... B-8 162 • Law Enforcement............................................................ B-9 163 • General Government Grants .......................................... B-10 164 • Area Commissions......................................................... B-11 166 • Local Law Enforcement Block Grant ............................ B-12 166 • Special Purpose............................................................... B-13 167 • Mayor’s Education Charitable Trust............................... B-14 168 • Drivers Alcohol Treatment ............................................ B-15 169 • Municipal Court Special Projects .................................. B-16 169 • Municipal Court Clerk................................................... B-17 170 • Columbus Community Relations................................... B-18 170 • Housing/Business Tax Incentives.................................. B-19 171 • Hester Dysart Paramedic Education .............................. B-20 171 • Hotel-Motel Tax............................................................. B-21 172 • Emergency Human Services........................................... B-22 172 • Private Leisure Assistance for Youth ............................ B-23 173 • Tree Replacement .......................................................... B-24 173 • Gatrell Arts and Vocational Rehabilitation.................... B-25 174 • Columbus Housing ........................................................ B-26 174 • Neighborhood Economic Development.......................... B-27 175 • Fire Quarter Master Incentive Travel.............................. B-28 175 • Development Services.................................................... B-29 176 • Urban Development Action Grants................................. B-30 177 • Community Development Act........................................ B-31 178 • Health.............................................................................. B-32 180 • Health Department Grants.............................................. B-33 180 • County Auto License...................................................... B-34 181 • Street Construction Maintenance & Repair .................... B-35 181 • Municipal Motor Vehicle Tax........................................ B-36 182 • Treasury Investment Earnings........................................ B-37 182 • Golf Course Operations.................................................. B-38 183 • Recreation & Parks Operations....................................... B-39 184 • Recreation & Parks Grants.............................................. B-40 184 • Private Grants................................................................. B-41 185 • Urban Site Acquisition Loan Fund ................................. B-42 186 • Photo Red Light Fund..................................................... B-43 186 • 1111 E. Broad Street Operations Fund ........................... B-44 187 • Collection Fees Fund...................................................... B-45 188 • City Attorney Mediation Fund.......................................