Comprehensive Annual Financial Report

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EXHIBIT D, Concluded CITY OF RICHMOND, VIRGINIA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN THE FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES GOVERNMENTAL FUNDS For the Fiscal Year Ended June 30, 2012 Amounts reported for governmental activities in the Statement of Activities are different because: Net change in fund balances - total governmental funds $ 99,675,494 Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which depreciation exceeded capital outlay in the current period. Purchases of assets $ 86,994,220 Depreciation expense (34,954,436) 52,039,784 The issuance of long term debt (e.g., bonds and leases) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes current financial resources of governmental funds. Neither transaction, however, has any effect on net assets. Also, governmental funds report the effect of issuance costs, premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the Statement of Activities. These amounts are the net effect of these differences in the treatment of of long-term debt and related items. Proceeds of borrowing (113,379,713) Principal payments of bonds, net of payments on behalf of Component Units 28,660,057 Amortization of bond premium 5,994,216 (78,725,440) Some revenues in the Statement of Activities do not provide the use of current financial resources and, therefore, are not reported as revenues in the governmental funds. (4,112,419) Some expenditures in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds. Change in accrued interest 3,378,484 Compensated absences 58,173 Other Liabilities and Claims 1,038,250 Other Post-employment Benefit Obligations 487,444 4,962,351 Internal service funds are used by the City to charge costs of certain activities to individual funds. The net revenue of internal service funds is reported as a component of governmental activities. (2,502,986) Change in net assets of governmental activities $ 71,336,784 See Note 1 (b) for discussion of internal service fund allocations to governmental and business-type activities. 23
EXHIBIT E-1 CITY OF RICHMOND, VIRGINIA STATEMENT OF NET ASSETS PROPRIETARY FUNDS June 30, 2012 Enterprise Funds Gas Water Wastewater Stormwater Other Total Internal Service Funds Assets Current Assets: Cash and Cash Equivalents (Note 3) $ 11,737,310 $ 42,012,462 $ 62,838,192 $ 5,122,294 $ -- $ 121,710,258 $ 38,734,346 Accounts Receivables (Net of Allowance for Doubtful Accounts) 2,235,693 11,814,935 9,440,303 1,162,705 1,293,008 25,946,644 4,632,209 Due From Component Unit -- -- -- -- -- -- 288,110 Due From Other Governments (Note 5) 16,549 15,643 16,601 48,911 -- 97,704 182,917 Inventories of Materials and Supplies 9,260,306 305,922 -- -- -- 9,566,228 3,340,369 Prepaid Expenses and Other Current Assets 1,532,296 1,608,309 1,675,309 -- 107,847 4,923,761 334,604 Total Current Assets 24,782,154 55,757,271 73,970,405 6,333,910 1,400,855 162,244,595 47,512,555 Noncurrent Assets: Restricted Assets - Cash and Investments (Note 3) 21,904,019 15,607,548 14,680,805 -- -- 52,192,372 -- Advances To Other Funds (Note 4) 19,605,111 19,081,068 21,534,342 -- -- 60,220,521 3,294,908 Deferred Expenses 2,133,891 1,860,990 1,418,640 -- -- 5,413,521 -- Capital Assets (Note 7): Land 237,745 679,409 1,101,261 -- 12,770,860 14,789,275 5,047,511 Buildings and Structures -- -- -- -- 33,982,882 33,982,882 126,717,729 Equipment and Other Assets -- -- -- -- 5,566,292 5,566,292 69,747,065 Plant-in-Service 400,504,303 364,624,652 230,771,907 48,848 -- 995,949,710 -- Completed Construction 43,261,051 37,222,586 238,984,547 713,320 -- 320,181,504 -- Construction in Progress 59,746,583 52,545,874 111,198,096 5,495,863 -- 228,986,416 16,752,176 Less: Accumulated Depreciation (154,169,889) (126,347,476) (183,734,449) (111,068) (38,752,726) (503,115,608) (137,253,039) Total Capital Assets, Net Accumulated Depreciation 349,579,793 328,725,045 398,321,362 6,146,963 13,567,308 1,096,340,471 81,011,442 Total Noncurrent Assets 393,222,814 365,274,651 435,955,149 6,146,963 13,567,308 1,214,166,885 84,306,350 Total Assets $ 418,004,968 $ 421,031,922 $ 509,925,554 $ 12,480,873 $ 14,968,163 $ 1,376,411,480 $ 131,818,905 Liabilities Current Liabilities: Accounts Payable $ 8,286,670 $ 7,648,230 $ 11,411,757 $ 987,821 $ 1,747,555 $ 30,082,033 $ 2,960,444 Accrued Liabilities 5,231,669 1,100,937 1,106,346 233,441 16,697 7,689,090 3,579,537 Due To Other Funds (Note 4) -- -- -- -- 570,234 570,234 11,680,568 Accrued Interest on Bonds Payable 4,988,523 4,520,932 4,049,049 -- 139,159 13,697,663 138,368 General Obligation Bonds, Capital Leases,and Notes Payble (Note 8) 7,498,465 6,037,272 4,359,738 11,250 985,559 18,892,284 741,279 Revenue Bonds Payable (Note 8) 3,406,219 3,401,560 6,130,414 -- -- 12,938,193 746,051 Notes Payable (Note 8) -- -- -- -- -- -- 3,240,000 Compensated Absences (Note 8) 675,626 516,655 536,527 139,100 62,834 1,930,742 242,750 Other Liabilities -- -- -- -- -- -- 15,922 Total Current Liabilities 30,087,172 23,225,586 27,593,831 1,371,612 3,522,038 85,800,239 23,344,919 Noncurrent Liabilities: Liabilities to be Repaid from Restricted Assets: Customers' Deposits 5,926,431 1,448,836 -- -- -- 7,375,267 -- General Obligation Bonds, Capital Lease Liabilities (Note 8) 61,738,923 48,864,942 25,606,201 202,500 6,372,339 142,784,905 4,830,649 Revenue Bonds Payable (Note 8) 182,533,893 164,607,331 198,349,569 -- -- 545,490,793 7,614,180 Notes Payable (Note 8) -- -- -- -- -- -- 5,300,000 Compensated Absences (Note 8) 149,491 114,316 118,713 30,778 13,282 426,580 54,794 Other Liabilities 23,384,267 65,594,672 30,439,356 4,270,566 -- 123,688,861 2,177,434 Advances from Other Funds (Note 4) -- -- -- -- -- -- 63,515,429 Total Noncurrent Liabilities 273,733,005 280,630,097 254,513,839 4,503,844 6,385,621 819,766,406 83,492,486 Total Liabilities 303,820,177 303,855,683 282,107,670 5,875,456 9,907,659 905,566,645 106,837,405 Net Assets Invested in Capital Assets, Net of Related Debt 110,379,881 89,854,845 178,556,245 5,933,213 6,209,410 390,933,594 58,539,283 Unrestricted 3,804,910 27,321,394 49,261,639 672,204 (1,148,906) 79,911,241 (33,557,783) Total Net Assets $ 114,184,791 $ 117,176,239 $ 227,817,884 $ 6,605,417 $ 5,060,504 $ 470,844,835 $ 24,981,500 The accompanying notes are an integral part of the basic financial statements. 509,925,554 24
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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
Page 35 and 36: REVENUE For the Fiscal Year ended J
Page 37 and 38: FINANCIAL ANALYSIS OF THE FUND STAT
Page 39 and 40: LONG-TERM DEBT During the fiscal ye
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Page 57 and 58: EXHIBIT F-1 CITY OF RICHMOND, VIRGI
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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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