THE FINANCE DIRECTOR To the honorable Board of Selectmen and to the Citizens of the Town of Millbury: The office of Financial Management is responsible for the coordination of all financial activities of the Town, ensuring that the appropriate financial and auditing controls are maintained. The following reports represent the activities of Fiscal Year 2012. • Consolidated Balance Sheet • Revenues & Expenditures of the General Fund & Sewer Enterprise Fund • Special Revenue Funds, Capital Project Funds, and Trust Fund Balances • Debt Service Schedule Respectfully submitted, Brian E. Turbitt Finance Director
<strong>TOWN</strong> OF MILLBURY BALANCE SHEET June 30, 2012 General Long- Total General Fund Special Revenue Capital Projects Enterprise Fund Trust Fund Agency Fund Term Debt All Funds ASSETS Cash 4,361,802 2,493,564 892,434 1,388,072 5,781,336 119,448 - 15,036,656 Accounts Receivable - Police Detail - - - - 40,715 - 40,715 Personal Property 9,277 - - - - - - 9,277 Real Estate 217,218 - - - - - - 217,218 Excise 214,558 - - - - - - 214,558 Tax Foreclosures 108,538 - - 641 - - - 109,179 Tax Liens 641,537 - - 82,253 - - - 723,791 Intergovenrmental 103,847 - - - - - - 103,847 Intergovenrmental - MWPAT - - - - - - - - Sewer Use - - - 207,226 - - - 207,226 Sewer Use on Real Estate - - - 10,777 - - - 10,777 Apportioned Betterments - - - 2,120,508 - - - 2,120,508 Committed Interest - - - 2,771 - - - 2,771 Unapportioned Betterments - - - - - - - - Amount to be prov. Gen. Obligation Bonds - - - - - - 29,952,189 29,952,189 Total Assests 5,656,777 2,493,564 892,434 3,812,249 5,781,336 160,163 29,952,189 48,748,712 LIABILITIES Accounts & Warrants Payable 8,972 69 - 2,986 - 176 - 12,203 Employee Withholdings 137,880 - - - - - - 137,880 Allowance for Abatements 670,262 - - - - - - 670,262 BAN'S Payable - - 580,000 - - - - 580,000 Other Liabilities - 393,892 - - - - - 393,892 Deferred Revenue 624,714 - - 2,424,177 - 40,715 - 3,089,606 General Obligation Bonds Payable - - - - - - 29,952,189 29,952,189 Total Liabilities 1,441,828 393,961 580,000 2,427,163 - 40,891 29,952,189 34,836,032 FUND EQUITY Reserved for Expenditures 1,404,122 - 851,744 674,048 - - 2,929,914 Reserved for Encumbrances 985,734 - - 13,711 - - 999,446 Reserve for Debt Service 473,752 - - 44,346 - - 518,098 Designated Fund Balance - 2,099,603 40,690 - 5,781,336 119,272 - 8,040,901 Undesignated Fund Balance 1,351,341 - (580,000) 652,981 - - 1,424,322 Total Fund Equity 4,214,949 2,099,603 312,434 1,385,086 5,781,336 119,272 - 13,912,679 Total Liabilities + Fund Equity 5,656,777 2,493,564 892,434 3,812,249 5,781,336 160,163 29,952,189 48,748,712
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