Annual Comprehensive Financial Report 2021

Depreciation expense for the year ended September 30, 2021 was charged to functions/programs of
the primary government as follows:
Governmental activities:
General government $ 262,451
Public safety 661,262
Culture and recreation 52,972
Public works 628,318
Total $ 1,605,003
Business-type activities:
Utility $ 1,486,992
Storm Water 50,445
Total $ 1,537,437
VI.
INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS
Interfund transfers made during the fiscal year were as follows:
Transfer From Transfer To Amount
Industrial Development Corporation General Fund $ 125,149
General Fund Nonmajor governmental 1,814,857
Economic Development Corporation Nonmajor governmental 500,000
Economic Development Corporation General Fund 125,938
Industrial Development Corporation Water & Sewer Fund 475,248
Industrial Development Corporation General Fund 690,504
Economic Development Corporation Water & Sewer Fund 117,752
Non-Major Governmental General Fund 19,773
Total $ 3,869,221
The transfer from the general fund and Economic Development Corporation to nonmajor governmental
funds in the amounts of $1,814,857 and $500,000, respectively, were to fund upcoming capital projects.
The transfer from Industrial Development Corporation to General fund was for upcoming projects.
Interfund receivables and payables as of September 30, 2021 were as follows:
Receivable Fund Payable Fund Amount
Capital Projects General Fund $ 15,392
Capital Projects 2021 Co Bond Fund 105,763
Utility Fund Industrial Development Corporation 4,760,000
Economic Development Corporation Industrial Development Corporation 36,955
Total $ 4,918,110
The outstanding balances between funds result mainly from the time lag between the dates that (1)
interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are
recorded in the accounting system, and (3) payments between funds are made.
VII.
LONG-TERM DEBT
Long-term debt activity for the year ended September 30, 2021, was as follows:
Beginning Refunded/ Ending Amount Due
Balance Issued Retired Balance Within One Year
Governmental activities:
Bonds payable:
General obligation bonds $ 5,335,000 $ - $( 345,000) $ 4,990,000 $ 420,000
Certificates of obligation 11,290,000 - ( 375,000) 10,915,000 390,000
Certificates of obligation
(private placement) 406,000 3,685,000 ( 41,000) 4,050,000 73,000
Revenue bonds 8,555,000 - ( 355,000) 8,200,000 360,000
Revenue bonds (private
placement) 2,555,000 - ( 396,000) 2,159,000 404,000
Tax notes 140,000 - ( 140,000)
- -
Tax notes (private placement) 1,210,000 1,930,000 ( 386,000) 2,754,000 517,000
Special assessment revenue
revenue bonds (private placement) - 5,657,000 - 5,657,000 -
Issuance premium 1,026,537 863,937 ( 70,861) 1,819,613 -
Total bonds payable 30,517,537 12,135,937 ( 2,108,861) 40,544,613 2,164,000
Compensated absences 754,974 512,149 ( 529,868)
737,255 184,314
Total governmental $ 31,272,511 $ 12,648,086 $( 2,638,729) $ 41,281,868 $ 2,348,314
Business-type activities:
Bonds payable:
General obligation bonds $ 12,400,000 $ - $( 1,050,000) $ 11,350,000 $ 1,105,000
Certificates of obligation 2,247,000 - ( 84,000) 2,163,000 85,000
Certificates of obligation
(private placement) 899,000 2,020,000 ( 273,000) 2,646,000 268,000
Tax notes 8,000 - ( 8,000)
- -
Tax notes (private placement) 411,000 - ( 65,000)
346,000 67,000
Issuance premium 1,181,654 51,009 ( 110,822) 1,121,841 -
Total bonds payable 17,146,654 2,071,009 ( 1,590,822) 17,626,841 1,525,000
Compensated absences 32,872 33,143 ( 31,754)
34,261 8,565
Total business-type $ 17,179,526 $ 2,104,152 $( 1,622,576) $ 17,661,102 $ 1,533,565
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