City of Altus, Oklahoma Report on Audit of Financial Statements June 30, 2006 City of Altus, Oklahoma Report on Audit of Financial Statements June 30, 2006 Table of Contents Introductory Section Pages Selected City Officials 1 Financial Section Independent Auditor’s Report 2–3 Management’s Discussion and Analysis 4–12 Basic Financial Statements Statement of Net Assets 13–14 Statement of Activities 15 Balance Sheet – Governmental Funds 16 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds 17 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities 18 Statement of Net Assets – Proprietary Funds 19–20 Statement of Revenues, Expenses, and Changes in Fund Net Assets – Proprietary Funds 21 Statement of Cash Flows – Proprietary Funds 22 Statement of Fiduciary Assets and Liabilities – Agency Fund 23 Notes to Financial Statements 24–45 i City of Altus, Oklahoma Report on Audit of Financial Statements June 30, 2006 Table of Contents (continued) Required Supplementary Information Pages Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – General Fund 46 Explanation of Differences Between Revenues, Expenditures, and Other Financing Sources (Uses) for Budgetary Funds ...