Nonmajor Governmental Funds

THE CITY OF ROCHESTER, NEW YORK Comprehensive Annual Financial Report Year Ended June 30, 2012 Prepared by: Department of Finance Brian L. Roulin, CPA Director of Finance John T. Cox Deputy Director of Finance-Accounting ANNUAL FINANCIAL REPORT Year Ended June 30, 2012 TABLE OF CONTENTS INTRODUCTORY SECTION Page Transmittal Letters ..................................................................................................................................................... 2 Certificate of Achievement ...................................................................................................................................... 11 List of City Council Officials ..................................................................................................................................... 12 Management Chart .................................................................................................................................................. 13 Organization Units and Officials .............................................................................................................................. 14 FINANCIAL SECTION INDEPENDENT AUDITOR’S REPORT ................................................................................................................... 16 REQUIRED SUPPLEMENTAL INFORMATION: Management Discussion and Analysis.................................................................................................................... 18 BASIC FINANCIAL STATEMENTS: Statement of Net Assets ......................................................................................................................................... 30 Statement of Activities ............................................................................................................................................. 31 Balance Sheet – Governmental Funds ................................................................................................................... 32 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ........................... 33 Reconciliation of Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........................................................................................... 34 Statement of Net Assets – Proprietary Funds ......................................................................................................... 35 Statement of Revenues, Expenses and Changes in Fund Net Assets – Proprietary Funds ................................... 36 Statement of Cash Flows – Proprietary Funds ........................................................................................................ 37 Statement of Fiduciary Net Assets – Fiduciary Funds ............................................................................................ 38 Statement of Changes in Fiduciary Net Assets – Fiduciary Funds ......................................................................... 39 Notes to the Financial Statements .......................................................................................................................... 40 REQUIRED SUPPLEMENTAL INFORMATION: Combining Statement of Revenues, Expenditures and Changes in Fund Equity – Budget and Actual – General, Certain Special Revenue and Enterprise Funds – Non-GAAP Budget Basis ........................................................................................................................................ 65 Other Post Employment Benefits – Schedule of Funding Progress & Employee Contribution ............................... 67 COMBINING FUND STATEMENTS: Combining Balance Sheet – Nonmajor Governmental Funds ................................................................................. 69 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds ......................................................................................................................... 70 Statement of Changes in Assets and Liabilities – Agency Funds ...................................................................... 71 ii STATISTICAL SECTION Net Assets by Component – Last Ten Fiscal Years................................................................................................ 73 Changes in Net Assets – Last Ten Fiscal Years ..................................................................................................... 74 Tax Revenues by Source – Last Ten Fiscal Years ................................................................................................. 76 Fund Balances of Governmental Funds – Last Ten Fiscal Years ........................................................................... 77 Changes in Fund Balances of Governmental Funds – Last Ten Fiscal Years........................................................ 78 General Governmental Tax Revenues by Source – Last Ten Fiscal Years ............................................................ 79 Assessed Value and Estimated Actual Value of Taxable Real Property – Last Ten Fiscal Years .......................... 80 Property Tax Rates Per Thousand, Direct and Overlapping Governments – Last Ten Fiscal Years .................... 81 Principal Property Taxpayers – Current Fiscal Year and Nine Years Prior ............................................................. 82 Property Tax Levies and Collections – Last Ten Fiscal Years ................................................................................ 83 Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ................................................................................ 84 Ratios of General Debt Outstanding – Last Ten Fiscal Years ................................................................................ 85 Direct and Overlapping Debt ................................................................................................................................... 86 Legal Debt Margin Information – Last Ten Fiscal Years ......................................................................................... 87 Demographic Economic Statistics – Last Ten Calendar Years .............................................................................. 89 Principal Private-Sector Employers in the Rochester Area – Current Year and Nine Years Prior .......................... 90 Budgeted Full-time Equivalent City Government Employees by Function – Last Ten Fiscal Years ....................... 91 Operating Indicators by Function – Last Ten Fiscal Years ..................................................................................... 92 Capital Asset Statistics by Function – Last Ten Fiscal Years ................................................................................. 93 SINGLE AUDIT REPORTS (Federal Awards) Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on Audit of Financial Statements Performed in Accordance with Government Auditing Standards ......................................................................................................................... 95 Independent Auditor’s Report on Compliance with Requirements that Could Have a Direct and Material Effect on Each Major Program and on Internal Control over Compliance in Accordance with OMB Circular A-133 ................................................................................................................. 97 Schedule of Expenditures of Federal Awards ......................................................................................................... 99 Notes to Schedule of Expenditures of Federal Awards ......................................................................................... 102 Schedule of Findings and Questioned Costs ........................................................................................................ 103 Schedule of Prior Year Findings and Questioned Costs ....................................................................................... 107 NEW YORK STATE TRANSPORTATION ASSISTANCE Independent Auditor’s Report on Compliance and Controls Over State Transportation Assistance Expended Based on Audit of Basic Financial Statements Performed in Accordance with Governmental Auditing Standards ........................................................................................................................ 111 Schedule of State Transportation Assistance Expended ...................................................................................... 113 Notes to the Schedule of State Transportation Assistance Expended.................................................................. 114 Schedule of Findings and Questioned Costs ........................................................................................................ 115 iii INTRODUCTORY SECTION Thomas S. Richards City Hall Room 308A, 30 Church Street Mayor Rochester, New York 14614-1290 www.cityofrochester.gov January 30, 2013 The Honorable Members of the City Council The City of Rochester, New York Ladies and Gentlemen: In accordance with provisions of the City Charter, I hereby transmit the annual financial report of the City of Rochester as of and for the year ended June 30, 2012. The accounting firm selected by City Council, Freed Maxick CPAs PC, has audited the financial statements. The auditors' unqualified opinion is included in this report. In each of the

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