Comprehensive Annual Financial Report

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EXHIBIT C, Concluded CITY OF RICHMOND, VIRGINIA RECONCILIATION OF THE STATEMENT OF NET ASSETS TO THE BALANCE SHEET GOVERNMENTAL FUNDS June 30, 2012 Total fund balances for governmental funds $ 184,582,170 Amounts reported for governmental activities in the Statement of Net Assets are different because: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. Those assets consist of: Land $ 103,875,735 Infrastructure, net 263,943,419 Buildings, structures, and equipment, net 208,238,417 Construction in progress 233,211,923 809,269,494 Some of the City's taxes will be collected after year-end, but are not available soon enough to pay for the current period's expenditures and, therefore, are reported as unearned revenue in the funds. 33,701,171 Long-term liabilities, including bonds payable, are not due and payable in the current period and, therefore, are not reported in the governmental funds. Those liabilities consist of: Accrued interest (6,717,793) Governmental bonds and capital lease payable (564,661,659) Compensated absences (18,366,174) Notes Payable (5,494,000) Note Payable to Component Unit (18,062,878) Other Liability and Claims (34,583,327) Net Other Post-employment Benefit Obligations (15,700,699) (663,586,530) Internal service funds are used by the City to charge costs of certain activities to individual funds. The net assets of internal service funds are reported as components of governmental activities. 24,981,500 Net Assets of governmental activities $ 388,947,805 See Note 1 (b) for discussion of internal service fund allocations to governmental and business-type activities. 21
EXHIBIT D CITY OF RICHMOND, VIRGINIA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS For the Fiscal Year Ended June 30, 2012 Other Governmental General Debt Service Capital Projects Fund Funds Total Revenues City Taxes Real Estate $ 216,991,101 $ -- $ -- $ -- $ 216,991,101 Sales-1% Local 30,595,853 -- -- -- 30,595,853 Sales Tax for Education 26,406,848 -- -- -- 26,406,848 Personal Property 43,780,792 -- -- -- 43,780,792 Machinery and Tools 15,519,223 -- -- -- 15,519,223 Utility Sales Tax Gas 4,256,292 -- -- -- 4,256,292 Utility Sales Tax Electric 12,121,920 -- -- -- 12,121,920 State Communication Taxes 17,085,208 -- -- -- 17,085,208 Bank Stock 12,480,183 -- -- -- 12,480,183 Prepared Food 26,991,476 -- -- -- 26,991,476 Lodging Tax 5,685,427 -- -- -- 5,685,427 Admission 2,726,217 -- -- -- 2,726,217 Real Estate Taxes - Delinquent 7,006,446 -- -- -- 7,006,446 Personal Property Taxes - Delinquent 3,959,980 -- -- -- 3,959,980 Private Utility Poles and Conduits 154,881 -- -- -- 154,881 Penalties and Interest 3,660,357 -- -- -- 3,660,357 Titling Tax-Mobile Home 8,051 -- -- -- 8,051 State Recordation 656,449 -- -- -- 656,449 Property Rental 1% 131,021 -- -- -- 131,021 Vehicle Rental Tax 1,149,088 -- -- -- 1,149,088 Telephone Commissions 338,499 -- -- -- 338,499 Total City Taxes 431,705,312 -- -- -- 431,705,312 Licenses, Permits and Privilege Fees 39,403,213 -- -- 39,403,213 Intergovernmental 107,465,620 -- 8,364,411 37,007,918 152,837,949 Service Charges 26,390,218 -- -- -- 26,390,218 Fines and Forfeitures 9,744,457 -- -- -- 9,744,457 Utility Payments 24,141,572 -- -- -- 24,141,572 Investment Income -- 45 117,830 7,651 125,526 Miscellaneous 68,057,937 1,389,832 -- 9,875,413 79,323,182 Total Revenues 706,908,329 1,389,877 8,482,241 46,890,982 763,671,429 Expenditures Current: General Government 71,611,380 -- -- 18,449,512 90,060,892 Public Safety and Judiciary 167,212,116 -- -- 9,830,079 177,042,195 Highways, Streets, Sanitation and Refuse 59,369,078 -- -- 1,795,362 61,164,440 Human Services 65,386,732 -- -- 15,526,567 80,913,299 Culture and Recreation 20,816,852 -- -- 2,171,740 22,988,592 Education 150,651,924 -- -- -- 150,651,924 Non-Departmental 46,835,962 -- -- -- 46,835,962 Capital Outlay -- -- 96,796,091 -- 96,796,091 Debt Service: Principal Retirement -- 30,683,823 -- -- 30,683,823 Interest Payments -- 22,026,533 -- -- 22,026,533 Total Expenditures 581,884,044 52,710,356 96,796,091 47,773,260 779,163,751 Excess of Revenues Over (Under) Expenditures 125,024,285 (51,320,479) (88,313,850) (882,278) (15,492,322) Other Financing Sources (Uses) Proceeds from Issuance of General Obligation Bonds and Notes -- -- 113,379,713 -- 113,379,713 Transfers In-Other Funds 3,108,932 52,108,945 5,800,000 5,977,740 66,995,617 Transfers Out-Other Funds (61,830,564) -- -- (2,056,121) (63,886,685) Total Other Financing Sources (Uses), Net (58,721,632) 52,108,945 119,179,713 3,921,619 116,488,645 Extraordinary Item Extraordinary Item - Disaster Costs (Note 16) -- -- -- 1,320,829 1,320,829 Total Extraordinary Item -- -- -- 1,320,829 1,320,829 Net Change in Fund Balances 66,302,653 788,466 30,865,863 1,718,512 99,675,494 Fund Balances - Beginning of Year, As Restated (Note 17) 95,710,842 1,450,607 (26,072,106) 13,817,333 84,906,676 Fund Balances - End of Year $ 162,013,495 $ 2,239,073 $ 4,793,757 $ 15,535,845 $ 184,582,170 The accompanying notes are an integral part of the basic financial statements. (Continued) 22
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Page 11 and 12: Included among the accolades bestow
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Page 15: A. No Overlapping Debt The City is
Page 18 and 19: MANAGEMENT REPORT ON RESPONSIBILITY
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Page 31 and 32: OVERVIEW OF THE FINANCIAL STATEMENT
Page 33 and 34: GOVERNMENT-WIDE FINANCIAL ANALYSIS
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Page 43 and 44: CITY OF RICHMOND, VIRGINIA STATEMEN
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CITY OF RICHMOND, VIRGINIA NOTES TO
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EXHIBIT H-1 CITY OF RICHMOND, VIRGI
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EXHIBIT H-1, Continued CITY OF RICH
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Exhibit H-2 CITY OF RICHMOND, VIRGI
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EXHIBIT I-1 Special Revenue CITY OF
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EXHIBIT I-3 CITY OF RICHMOND, VIRGI
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CITY OF RICHMOND, VIRGINIA BUDGETAR
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EXHIBIT J-1 CITY OF RICHMOND, VIRGI
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EXHIBIT J-3 CITY OF RICHMOND, VIRGI
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EXHIBIT K-1 CITY OF RICHMOND, VIRGI
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EXHIBIT K-3 CITY OF RICHMOND, VIRGI
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EXHIBIT L-1 CITY OF RICHMOND, VIRGI
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EXHIBIT L-3 CITY OF RICHMOND, VIRGI
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CITY OF RICHMOND, VIRGINIA MISCELLA
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Monthly Commercial and Industrial B
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CITY INDEBTEDNESS All of the City
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122 CITY OF RICHMOND, VIRGINIA CHAN
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124 CITY OF RICHMOND, VIRGINIA ASSE
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126 CITY OF RICHMOND, VIRGINIA PRIN
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128 CITY OF RICHMOND, VIRGINIA RATI
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CITY OF RICHMOND, VIRGINIA PLEDGED-
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CITY OF RICHMOND, VIRGINIA FULL-TIM
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CAPITAL ASSETS STATISTICS BY FUNCTI
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Comprehensive Annual Financial Report

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