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2015 CAFR Production City of Fort Wayne, Indiana 2015 Comprehensive Annual Financial Report for the year ended December 31, 2015 Thomas C. Henry Len Poehler Mayor Controller COMPREHENSIVE ANNUAL FINANCIAL REPORT City of Fort Wayne, Indiana Year Ended December 31, 2015 Len Poehler 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................................................................................................... 7-14 Locator Maps..................................................................................................................................................... 15-17 Organizational Chart.......................................................................................................................................... 18 List of Principal Officials.................................................................................................................................... 19 Department Details............................................................................................................................................ 20-31 Fort Wayne at a Glance.................................................................................................................................... 32 GFOA Certificate of Excellence ........................................................................................................................ 33 II. FINANCIAL SECTION Independent Auditor’s Report............................................................................................................................ 35-37 Management’s Discussion and Analysis........................................................................................................... 39-49 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position....................................................................................................................... 51 Statement of Activities............................................................................................................................ 52 Fund Financial Statements: Balance Sheet - Governmental Funds................................................................................................... 53 Reconciliation of the Balance Sheet to the Statement of Net Position - Governmental Funds............ 54 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds........ 55 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities - Governmental Funds ………................................................... 56 Statement of Net Position - Proprietary Funds....................................................................................... 57 Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Funds.............. 58 Statement of Cash Flows - Proprietary Funds....................................................................................... 59 Statement of Net Position - Fiduciary Funds.......................................................................................... 60 Statement of Changes in Net Position - Fiduciary Funds...................................................................... 61 Combining Statement of Net Position - Discretely Presented Component Units ................................. 62 Combining Statement of Activities - Discretely Presented Component Units ...................................... 63 Notes to the Financial Statements: 1. Summary of Significant Accounting Policies......................................................................................... 65-76 2. Deposits and Investments...................................................................................................................... 77-79 3. Capital Assets........................................................................................................................................ 79-81 4. Long-Term Debt..................................................................................................................................... 82-89 5. Operating Leases................................................................................................................................... 89 1 TABLE OF CONTENTS (Continued) Page(s) 6. Deficit Fund Balances............................................................................................................................ 89 7. Interfund Balances and Activity............................................................................................................. 90-91 8. Risk Management.................................................................................................................................. 91-92 9. Segment Information.............................................................................................................................. 93 10. Other Postemployment Benefits............................................................................................................ 94-95 11. Conduit Debt.......................................................................................................................................... 95 12. Restricted Assets................................................................................................................................... 96-97 13. Lease and Subsequent Installment Sale of Electric Utility Assets........................................................ 97-98 14. City of Fort Wayne Community Legacy Fund........................................................................................ 98 15. Net Investment in Direct Financing Lease............................................................................................. 98 16. Unearned Revenue................................................................................................................................ 99 17. Deferred Outflows of Resources........................................................................................................... 99 18. Deferred Inflows of Resources.............................................................................................................. 99 19. Fund Balance Classification.................................................................................................................. 100 20. Redevelopment Authority....................................................................................................................... 101-102 21. Restatement - Change in Accounting Principle..................................................................................... 102 22. Commitments and Contingencies.......................................................................................................... 102-103 23. Subsequent Events................................................................................................................................ 103-104 24. Net Investment in Capital Assets........................................................................................................... 104 25. Pension Plans........................................................................................................................................ 105-129 Required Supplementary Information: Budgetary Comparison Schedule - General Fund...................................................................................... 131 Budgetary Comparison Schedule - Major Special Revenue Funds............................................................ 132-133 Infrastructure - Modified Reporting: Comparison of Budgeted–to-Actual Maintenance/Preservation........................................................... 134 Condition Rating..................................................................................................................................... 134 Schedule of Changes in the City's Net Pension Liability and Related Ratios - Single-employer Defined Benefit Pension Plans....................................................................................................... 135-137 Schedule of the City's Proportionate Share of the Net Pension Liability - Cost-Sharing Multiple- employer Defined Benefit Pension Plans....................................................................................... 138 Schedule of City Contributions - Single-Employer Defined Benefit Pension Plans.................................... 139 Schedule of City Contributions - Cost-Sharing Multiple-Employer Defined Benefit Pension Plans........... 140 Schedule of Pension Investment Returns................................................................................................... 141 Schedule of Funding Progress - Retiree Healthcare Plan.......................................................................... 142 Schedule of City Contributions - Retiree Healthcare Plan.......................................................................... 142 Notes to Required Supplementary Information..........................................................................................
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