2009 Comprehensive Annual Financial Report - Apex Park and ...
2009 Comprehensive Annual Financial Report - Apex Park and ...
2009 Comprehensive Annual Financial Report - Apex Park and ...
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• Governmental activities capital assets - Expenditures amounted to $526,584 which<br />
included: $119,194 for fleet vehicles <strong>and</strong> equipment replacements, $228,368 for building<br />
improvements, <strong>and</strong> $179,022 for recreation grounds improvements.<br />
• Business-type activities capital assets - Expenditures amounted to $298,162 which<br />
included: $160,224 in building improvements, $32,496 equipment <strong>and</strong> machinery,<br />
$105,442 l<strong>and</strong> improvements.<br />
<strong>Apex</strong> <strong>Park</strong> <strong>and</strong> Recreation Districfs Capital Assets<br />
(net of depreciation)<br />
Gowmmental Busincn-Type Tota'<br />
Activities<br />
Activities<br />
<strong>2009</strong> 2008 <strong>2009</strong> 2008 <strong>2009</strong> 2008<br />
L<strong>and</strong> $ 102,962 $ 102,962 $ 1,384,012 $ 1,384,012 $ 1,486,974 $ 1,486,974<br />
Water riitlts 30,000 30,000 30,000 30,000<br />
Buildinlll 1,980,519 1,919,502 19,882,621 20,667,649 21,863,140 22,587,151<br />
Improvements other than<br />
buildinll' 3,686,401 3,938,653 823,230 772,023 4,509,631 4,710,676<br />
Construction in proarcss 41,563 207,810 400 41,963 207,810<br />
Equipment ond machinery 349,975 317.951 480,653 657,042 830,628 974,993<br />
Total $ 6,191,420 $ 6,516,879 $ 22,570,916 $ 23,480,726 $ 28,762,336 $ 29,997,605<br />
Additional information on <strong>Apex</strong> <strong>Park</strong> <strong>and</strong> Recreation District's capital assets can be found in<br />
note IV -C on pages C-12 to C-14 of this report.<br />
Long-term debt, At the end of the current fiscal year, <strong>Apex</strong> <strong>Park</strong> <strong>and</strong> Recreation District had<br />
total bonded debt outst<strong>and</strong>ing of $13,485,000. This entire amount comprises debt backed by the<br />
full faith <strong>and</strong> credit of the district. During FY<strong>2009</strong> the District called <strong>and</strong> paid-off all of the<br />
District's debt representing bonds secured solely by specified revenue sources (Indian Tree Golf<br />
Course revenue bonds).<br />
<strong>Apex</strong> <strong>Park</strong> <strong>and</strong> Recreation District's Outst<strong>and</strong>ing Debt<br />
General Obligation <strong>and</strong> Revenue Bouds<br />
Gowmmcatal<br />
BusincS.!l-Type<br />
Activities<br />
Acti~tics<br />
Total<br />
<strong>2009</strong> 2008 <strong>2009</strong> 2008 <strong>2009</strong> 2008<br />
Geneml Obliaation Bonds $ 13,485,000 $ 14,920,000 S $ $ 13,485,000 $ 14,920,000<br />
Revenue Bonds 615,000 615,000<br />
Total $ 13,485,000 $ 14,920,000 $ $ 615,000 $ 13,485,000 $ 15,535,000<br />
<strong>Apex</strong> <strong>Park</strong> <strong>and</strong> Recreation District's total bonded debt decreased by $2,050,000, (13.0%) during<br />
the current fiscal year. The key factor in this decrease of debt was the District calling the golf<br />
revenue bonds as referenced above. Additional information on <strong>Apex</strong> <strong>Park</strong> <strong>and</strong> Recreation<br />
District's long-term debt can be found in note V on pages C-16 to C-19 of this report.<br />
A-11
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