Annual Report 2007-2008(color).pub - Town of South Windsor

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Auditor’s Report STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2008 General Capital Projects Fund Nonmajor Governmental Funds Total Governmental Funds Revenues: Property taxes $ 69,340,563 $ $ $ 69,340,563 Intergovernmental 35,885,450 408,016 3,013,713 39,307,179 Charges fo services 2,226,584 16,359 6,788,459 9,031,402 Investment earnings 1,009,140 322 47,025 1,056,487 Miscellaneous 66,476 244,573 311,049 Total revenues 108,461,737 491,173 10,093,770 119,046,680 Expenditures: Current: General government 3,097,446 17,932 3,115,378 Public safety 6,305,533 867,426 7,172,959 Public works 7,387,147 2,944,555 10,331,702 Human services 823,211 16,343 839,554 Culture and recreation 1,342,863 804,550 2,147,413 Insurance and sundry 4,349,097 4,349,097 Education 78,231,913 5,482,990 83,714,903 Debt service 4,414,655 331,208 4,745,863 Capital outlay 3,872,639 3,872,639 Total expenditures 105,951,865 4,203,847 10,133,796 120,289,508 Excess (Deficiency) of Revenues over Expenditures 2,509,872 (3,712,674) (40,026) (1,242,828) Other Financing Sources (Uses): Proceeds from bond refunding 5,310,000 5,310,000 Premium on bond refunding 86,785 86,785 Payments to bond escrow (5,317,859) (5,317,859) Proceeds from bonds issues 8,625,000 8,625,000 Proceeds from leases 193,011 193,011 Transfers in 62,934 3,179,848 3,645,629 6,888,411 Transfers out (3,338,479) (3,003,700) (546,232) (6,888,411) Total other financing sources (uses) (3,196,619) 8,994,159 3,099,397 8,896,937 Net Change in Fund Balances (686,747) 5,281,485 3,059,371 7,654,109 Fund Balances at Beginning of Year, as Restated 7,711,587 5,669,905 (1,460,732) 11,920,760 Fund Balances at End of Year $ 7,024,840 $ 10,951,390 $ 1,598,639 $ 19,574,869 68 | Town of South Windsor: Annual Report 2007/2008
Auditor’s Report SCHEDULE OF DEBT LIMITATION FOR THE YEAR ENDED JUNE 30, 2008 Total tax collections (including interest and lien fees) received by Treasurer for the year ended June 30, 2008 $ 69,196,265 Tax Relief for the Elderly 2,000 BASE $ 69,198,265 General Purposes Schools Sewers Urban Renewal Pension Deficit Debt Limitation: 2-1/4 times base $ 155,696,096 $ $ $ $ 4-1/2 times base 311,392,193 3-3/4 times base 259,493,494 3-1/4 times base 224,894,361 3 times base 207,594,795 Total debt limitation 155,696,096 311,392,193 259,493,494 224,894,361 207,594,795 Indebtedness: Bonds payable 17,086,500 11,893,500 2,557,272 Notes payable 600,000,000 Authorized, unissued bonds 8,450,000 Total indebtedness 31,536,500 11,893,500 2,557,272 - - Less amounts to be provided by the state and other (2,488,526) Net indebtedness 31,536,500 9,404,974 2,557,272 - - Debt Limitation in Excess of Outstanding and Authorized Debt $ 124,159,596 $ 301,987,219 $ 256,936,222 $ 224,894,361 $ 207,594,795 Note 1: In no case shall total indebtedness exceed seven times annual receipts from taxation ($484,387,855) Town of South Windsor: Annual Report 2007/2008 | 69
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Cover Design Major Michael Donnelly
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General Information Website: http:/
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Town Council Cary Prague Mayor Our
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Board of Education Dr. Robert Kozac
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Department of Public Works Michael
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Department of Public Works Departme
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Page 32 and 33: Department of Human Services Dennis
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Page 36 and 37: Youth and Family Services The Youth
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Page 52 and 53: Planning Department Marcia A. Banac
Page 54 and 55: Zoning Board of Appeals Thomas Bers
Page 56 and 57: Finance Department Melanie D. Cruci
Page 58 and 59: Inland Wetlands Agency/Conservation
Page 60 and 61: Patriotic Commission Robert C. Moel
Page 62 and 63: Economic Development Commission Jan
Page 64 and 65: Collector of Revenue Bonnie Rabin C
Page 66 and 67: Five Year Summary FIVE YEAR SUMMARY
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Page 74 and 75: Hours of Operation TOWN HALL - 1540
Page 76: TOWN OF SOUTH WINDSOR 1540 SULLIVAN
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Annual Report 2007-2008(color).pub - Town of South Windsor

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