2006 Audit Report Sec 1

Front Desk

Informations

• Publié par: Issi
• Nombre de lectures: 23
• Langue: English

Extrait

Report
On The Audit Of
CITY OF EVANS
Evans, Colorado
December 31, 2006Table of Contents
Page
INTRODUCTORY SECTION
Letter of Transmittal i
FINANCIAL SECTION
Independent Auditor's Report 1-2
Management Discussion Analysis 3-14

Basic Financial Statements:
Government-wide Financial Statements:
Exhibit 1 - Statement of Net Assets 15
Exhibit 2 - Statement of Activities 16-17
Fund Financial Statements:
Exhibit 3 - Balance Sheet - Governmental Funds 18-19
Exhibit 4 - Statement of Revenues, Expenditures, and
Changes in Fund Balances - Governmental Funds 20-21
Exhibit 5 - Statement of Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual
General Fund, Park Improvement Fund,
and Capital Improvement Fund 22-24
Exhibit 6 - Statement of Net Assets - Proprietary Funds 25
Exhibit 7 - Statement of Revenues, Expenses, and Changes
in Net Assets - Proprietary Funds 26
Exhibit 8 - Statement of Cash Flows - Proprietary Funds 27
Exhibit 9 - Reconciliation of Operating Income (Loss) to Net Cash
Provided (Used) by Operating Activities 28
Exhibit 10- Statement of Fiduciary Net Assets 29
Exhibit 11- Statement of Changes on Fiduciary Net Assets 30

Notes to Financial Statements 31-51Page
Required Supplementary Information (Unaudited)
Required Supplementary Information - Volunteer Firefighters’ Pension Plan 52
Other Supplementary Information
Combining and Individual Fund Statements and Schedules:
Exhibit 12 - Combining Balance Sheet - Nonmajor Governmental Funds 53-54

Exhibit 13 - Statements of Revenues, Expenditures and
Changes in Fund Balances - Nonmajor Governmental Funds 55-56
Budgetary Comparison Schedules:

Schedule 1 - Emergency Contingency Fund 57

Schedule 2 - Parks Special Assessment Fund 58

Schedule 3 - Conservation Trust Fund 59

Schedule 4 - Fire Impact Fund 60

Schedule 5 - Budgetary Comparison Schedule 61
Schedule 6 - Community Development Fund 62
Schedule 7 - Street Impact Fund 63
Schedule 8 - G.O. Debt Service Fund 64
Schedule 9 - Street Construction Fund 65
Schedule 10- Community Complex Fund 66
Schedule 11- Water Fund 67
Schedule 12- Wastewater Fund 68
Schedule 13- Storm Drainage Fund 69
Schedule 14- Volunteer Firefighters’ Pension Fund 70
Schedule 15- Cemetery Endowment Fund 71
State Compliance Section
Schedule 16- Local Highway Finance Report 72-73INDEPENDENT AUDITOR'S REPORT
March 28, 2007
Honorable Mayor and Members
of the City Council
City of Evans, Colorado
We have audited the accompanying basic financial statements of the governmental activities and the
business type activities, each major fund, and the aggregate remaining fund information of City of Evans
as of and for the year ended December 31, 2006, which collectively comprise the City of Evans’s basic
financial statements listed in the table of contents. These basic financial statements are the responsibility
of the City’s management. Our responsibility is to express an opinion on these basic financial statements
based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the basic financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, each major fund,
and the aggregate remaining fund information of City of Evans as of December 31, 2006, and the
respective changes in financial position and cash flows, where applicable and the respective budgetary
comparison for the General, Park Improvement and Capital Improvement Funds, for the year then ended,
in conformity with accounting principles generally accepted in the United States of America.
The management’s discussion and analysis on pages 3 through 14 are not a required part of the basic
financial statements but are supplementary information required by accounting principles generally
accepted in the United States of America. We have applied certain limited procedures, which consisted
principally of inquiries of management regarding the methods of measurement and presentation of the
required supplementary information. However, we did not audit the information and express no opinion
on it.
1The combining and individual nonmajor fund financial statements are presented for purposes of additional
analysis and is not a required part of the basic financial statements. Such information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic financial statements taken as a whole.
Respectfully submitted,
Watkins & Schommer, Inc.
Certified Public Accountants
2BASIC FINANCIAL STATEMENTSCITY OF EVANS
Evans, Colorado
Statement of Net Assets
December 31, 2006
Primary Government
Governmental Business-Type
ASSETS Activities Activities Total

Cash and Investments 4,746,703 9,399,070 14,145,773
Receivables 3,615,810 985,097 4,600,907
Prepaid Expenses 53,073 - 53,073
Deferred Charges 138,240 9,495 147,735
Restricted Assets:
Cash and Cash Equivalents 685,687 296,332 982,019
Investment in Greeley Water - 4,636,502 4,636,502
Capital Assets (Net of Accumulated Depreciation):
Land and Water Shares 3,368,810 24,057,290 27,426,100
Construction in Progress 603,754 1,018,613 1,622,367
Land Improvements 2,559,146 - 2,559,146
Building & Is 9,385,818 395,948 9,781,766
System Is - 30,814,701 30,814,701
Machinery & Equipment 783,074 653,623 1,436,697
Transportation Equipment 727,283 - 727,283
Infrastructure 4,498,077 59,044 4,557,121

Total Assets 31,165,475 72,325,715 103,491,190
LIABILITIES
Bank Overdraft 55,539 - 55,539
Accounts Payable 658,416 587,669 1,246,085
Accrued Expenses 156,532 62,664 219,196
Retainage Payable 5,954 28,826 34,780
Deposits and Escrows 161,183 102,727 263,910
Unearned Revenue 2,169,109 - 2,169,109
Other Liabilities 106,000 - 106,000
Noncurrent Liabilities:
Due Within One Year 595,312 71,729 667,041
Due in More Than One Year 4,421,129 968,538 5,389,667
Bond Premium 122,190 - 122,190
Accrued Compensated Absences 241,847 68,246 310,093

Total Liabilities 8,693,211 1,890,399 10,583,610

NET ASSETS
Invested in Capital Assets, Net of
Related Debt 16,936,393 55,958,952 72,895,345
Restricted for:
Emergencies 1,168,596 - 1,168,596
Debt Service 505,610 - 505,610
Other Purposes - 296,332 296,332
Unrestricted 3,861,665 14,180,032 18,041,697

Total Net Assets 22,472,264 70,435,316 92,907,580

The accompanying notes are an integral part of these financial statements.
Exhibit 1
15CITY OF EVANS
Evans, Colorado
Statement of Activities
December 31, 2006
Program Revenues
Operating
Charges for Grants and Capital
Functions/Programs Expenses Service Contributions Contributions
Governmental Activities:
General Government 2,034,435 9,275 95,124 -
Public Safety 3,795,225 906,141 575,555 39,389
Public Works 1,184,137 220,955 2,657 134,755
Culture, Parks and Recreation 1,660,780 451,630 255,660 -
Refuse C