CITY OF CHAMPAIGN, ILLINOIS Champaign, Illinois Comprehensive Annual Financial Report For the Year Ended June 30, 2012 Prepared By: Finance Department Richard Schnuer, Finance Director CONTENTS INTRODUCTORY SECTION (Unaudited) Page Letter of Transmittal ................................................................................................................... 1-8 Certificate of Achievement .............................................................................................................9 Organizational Chart .....................................................................................................................10 List of Elected and Appointed Officials .......................................................................................11 FINANCIAL SECTION Independent Auditors’ Report ................................................................................................. 12-14 Management’s Discussion and Analysis ................................................................................ 15-31 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement of Net Assets (Exhibit A) .............................................................................................................................32 Statement of Activities (Exhibit B) ...............................................................................................................................33 Statement of Activities – Component Unit (Exhibit C) ...............................................................................................................................34 Fund Financial Statements Balance Sheet – Governmental Funds (Exhibit D) ...............................................................................................................................35 Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Assets (Exhibit D-1) ............................................................................................................................36 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds (Exhibit E) ...............................................................................................................................37 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds to the Statement of Activities (Exhibit E-1)...........................................................................................................................38 Statement of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual: General Fund (Exhibit F) ..............................................................................................................................39 Champaign Public Library Fund – Special Revenue Fund (Exhibit G) .............................................................................................................................40 Motor Fuel Tax Fund – Special Revenue Fund (Exhibit H) ………………………………………………………………………………….41 Statement of Net Assets – Proprietary Funds (Exhibit I) ...............................................................................................................................42 Statement of Revenues, Expenses, and Changes in Net Assets – Proprietary Funds (Exhibit J)...............................................................................................................................43 Statement of Cash Flows – Proprietary Funds (Exhibit K) ..............................................................................................................................44 Statement of Net Assets – Fiduciary Funds (Exhibit L) ..............................................................................................................................45 Statement of Changes in Net Assets – Fiduciary Funds (Exhibit M) .............................................................................................................................46 Notes to Financial Statements ............................................................................................. 47-106 REQUIRED SUPPLEMENTARY INFORMATION (Unaudited) Schedules of Funding Progress and Employer Contributions (Unaudited) ......................... 107-109 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION Combining Financial Statements – Governmental Funds Combining Balance Sheet – Non-Major Governmental Funds (Schedule 1) ...........................................................................................................................110 Combining Balance Sheet – Non-Major Special Revenue Funds (Schedule 2) ...........................................................................................................................111 Combining Balance Sheet – Non-Major Capital Projects Funds (Schedule 3) ...........................................................................................................................112 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Non-Major Governmental Funds (Schedule 4) ...........................................................................................................................113 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Non-Major Special Revenue Funds (Schedule 5) ................................................................................................................... 114-115 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Non-Major Capital Projects Funds (Schedule 6) ...........................................................................................................................116 Individual Fund Financial Statements – Non-Major Governmental Funds Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual: Special Revenue Funds Community Development Fund (Schedule 7) ...........................................................................................................................117 Food and Beverage Tax Fund (Schedule 8) ...........................................................................................................................118 North Campus Area TIF District Fund (Schedule 9) ...........................................................................................................................119 Urban Renewal Fund (Schedule 10) .........................................................................................................................120 Town of the City of Champaign Fund (Schedule 11) .........................................................................................................................121 Downtown TIF Fund (Schedule 12) .........................................................................................................................122 East University Avenue TIF Fund (Schedule 13) .........................................................................................................................123 Urban Development Action Grant Fund (Schedule 14) .........................................................................................................................124 Foreign Fire Insurance Tax Fund (Schedule 15) .........................................................................................................................125 Narcotics Forfeitures Fund (Schedule 16) .........................................................................................................................126 UC2B Fund (Schedule 17) .........................................................................................................................127 Local Motor Fuel Tax Fund (Schedule 18) .........................................................................................................................128 ARRA Grant Fund (Schedule 19) .........................................................................................................................129 Capital Projects Funds Vehicle Replacement Fund (Schedule 20) .........................................................................................................................130 Library Improvement Fund (Schedule 21) .........................................................................................................................131 Equipment Replacement Fund (Schedule 22) .........................................................................................................................132 Individual Fund Financial Statements – Major Governmental Funds Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual: Debt Service Fund Debt Service Fund (Schedule 23) .........................................................................................................................133 Capital Projects Funds Stormwater Management Fund (Schedule 24) .........................................................................................................................134 Capital Improvements Fund (Schedule 25) .........................................................................................................................135 Schedule of Revenues – Budget and Actual – General Fund (Schedule 26) .........................................................................................................................136 Schedule of Expenditures – Budget and Actual – General Fund (Schedule