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Home My WebLink About032210 Council Presentation City of Port Arthur, TexasComprehensive Annual Financial ReportSeptember 30, 2010 Report FormatIntroductory SectionTransmittal letter Overview of the City Local Economic OutlookCertificate of Excellence for the 2009 ReportListing of City OfficialsOrganization Chart Report FormatFinancial SectionAuditor’s OpinionManagement’s Discussion and AnalysisHighlights of the report Overview of the results of operations Basic Financial Statements FootnotesIndividua l Fund Statements Report FormatStatistical SectionVarious statistical information regarding City operations.Historical information for 10 years in most areas. Financial Section Auditor’s OpinionJ. R. Edwards and Associates, LLC issued an “unqualified opinion.” (page 1) Management’s Discussion and AnalysisA narrative overview of the financial statementsFinancial HighlightsNet Assets increased $3.6 millionGovernmental Fund Balances (total) were $30 millionGeneral Fund Balance ended the year at $29.7 million (budget basis), within financial policy guidelines Government wide statementspages 13-15Government –wide financial statements are full accrualTwo types of activitiesGovernmental typeMajor –General fund, debt service funds, CDBG, FEMA, Capital ProjectsNon Major –Grant fundsBusiness –typeWater Utility FundSolid Waste Fund Government-wide StatementsStatement of Net Assetspage 13Total Assets -$212,942,132Includes the reporting of Government type infrastructure (Streets and Drainage) Total Liabilities -$135,266,461Includes all bonded debt, estimated liabilities for landfill closure and long-term risk liabilities –including $18.1 million in OPEB liabilityNet Assets -$77,675,671 Government-wide StatementsStatement of Activitiespage 15Total Expenses -$100.45 millionOf all ‘activities’ of the cityIncludes capital cost –depreciation, OPEBProgram Revenues –Charges for services -$27.7 millionGrants -$18 millionThe bulk of this revenue is FEMA and ARRAGeneral Revenue (taxes, etc) –$58.5 millionIncrease in Net Assets $3.8 million Year End Fund Balance Major Operating Funds(budget basis)Actual Actual IncreaseYE '09YE '10(Decrease)General Fund29,259,651$ 29,756,560$ 496,909$ Debt Service Fund4,053,409 3,208,527 (844,882) Water Utilities(14,677,313) (17,426,202) (2,748,889) Solid Waste676,441 (464,225) (1,140,666) Equipment Replacement866,455 1,081,638 215,183 Employee Benefits5,857,679 6,927,623 1,069,944 Total26,036,322$ 23,083,921$ (2,952,401)$ City of Port ArthurTotal Fund Balances$0$5$10$15$20$25$30199019911992199319941995199619971998199920002001200220032004200520062007200820092010in millions