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Home My WebLink About2006 Annual Report Submitted to the NYS Comptroller.• All Numbers in This Report Have Been Rounded To The. Nearest Dollar ANNUAL FINANCIAL REPORT UPDATE DOCUMENT For The TOWN of Ithaca County of Tompkins For the Fiscal Year Ended 12/31/2006 AUTHORIZATION ARTICLE 3, SECTION 30 of the GENERAL MUNICPAL LAW: QIICtiQ� MF P? 1. **`Every Municipal Corporation *** shall annually make a report of its financial condition to the Comptroller. Such report shall be made by the Chief Fiscal Officer of such Municipal Corporation *** 5. All reports shall be certified by the officer making the same and shall be filed with the Comptroller within sixty days after the close of the fiscal year of such Municipal Corporation *** It shall be the duty of the incumbent officer at the time such reports are required to be filed with the Comptroller to file such report *** State of NEW YORK Office of The State Comptroller Division of Local Government Services and Economic Development Albany, New York 12236 Page 1 TOWN OF Ithaca *** FINANCIAL SECTION *** Financial Information for the following funds and account groups are included in the Annual Financial Report filed by your government for the fiscal year ended 2005 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2006: (A) GENERAL (B) GENERAL TOWN -OUTSIDE VG (DB) HIGHWAY -PART -TOWN (FX) WATER (G) SEWER (H) CAPITAL PROJECTS (K) GENERAL FIXED ASSETS (SF) FIRE PROTECTION (SL) LIGHTING (TA) AGENCY (V) DEBT SERVICE (W) GENERAL LONG-TERM DEBT All amounts included in this update document for 2005 represent data filed by your government with OSC as reviewed and adjusted where necessary. *** SUPPLEMENTAL SECTION *** The Supplemental Section includes the following sections: 1) Statement of Indebtedness 2) Schedule of Securities for Collateralization 3) Schedule of Time Deposits and Investments 4) Investment Certification 5) Bank Reconciliation 6) Local Government Questionnaire All numbers in this report will be rounded to the nearest dollar. Page 2 • E TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Balance Sheet "2005 , :°' Edp"Code,KIM 2tJE}6 Assets Cash In Time Deposits 1,264,365 A201 1,491,175 Petty Cash 600 A210 600 TRTt AL Cash 1,264,965 •,r 1,y491,7?5 ^� Accounts Receivable A380 1,983 TOTAL Other l2ece'ivables (net) � � ' Q �i ` ,° 1,983 State & Federal, Other 4,303 A410 43,776 TOTAL Stag And=Federal Aid Receivables 4,303 _ 43,776 Due From Other Funds A391 2,376 TiOTDueFrom Other Furicls _ 0 x 3 Due From Other Governments 191,969 A440 295,488 Prepaid Expenses 124,050 A480 137,969 Cash, Special Reserves 412,214 A230 480,175 Page 3 OSC Municipality Code 500342300000 0 • 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Balance Sheet Non -Current Government Assets Accrued Liabilities 220,924 A601 121,431 Due To Other Funds 23,787 A630 39,698 TONAL Due To.Other Funds.' mm 23;787, _w�39;698 Deferred Revenues 6,696 A691 43,590 General Reserve 412,214 A870 480,175 TAL Special Reserves 412 214 4� 880,175 Unreserved Fund Balance Appropriated 447,769 A910 399,779 (i OTAL Unreserved Fund Balance -Appropriated 447769P _399,7 Unreserved Fund Balance Unappropriated 886,111 A911 1,368,869 Page 4 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Results of Operation 'Poi eDescriptron ��° s �m20Q5, , ,r„ :EiipGotle 2t1as Detail Revenues And Other Sources Real Property Taxes Other Payments In Lieu of Taxes 1,293,174 A1001 1,712,903 19,766 A1081 24,554 Interest & Penalties On Real Prop Taxes 15,873 A1090 11,615 TOTAL Real' Property Tax I#ems^ 35,639 36,16 Non Prop Tax Dist By County 191,969 A1120 577,339 TOTAL Non Property Tait Items 191,969w: A3060 - Clerk Fees 4,335 A1255 3,592 Other General Departmental Income 8,532 A1289 10,958 Public Pound Charges, Dog Control Fees 360 A1550 280 Contributions, Private Agencies -Youth 2,404,376 A2070 10,019 Other Home & Community Services Income 201,012 A2189 209,254 TOTAL Departmental Income 13,227 13,891 Youth Recreation Services, Other Govts 57,091 A2350 59,697 TO"TAL Intergovernmental Charges" 57,091 3,613,589 Interest And Earnings 64,225 A2401 112,440 Rental, Other (specify) 34,574 A2440 38,298 TOTAL. Use of Money And Property 98,799 ,150,738? Bingo Licenses A2540 Dog Licenses 8,060 A2544 6,920 O SAL Licenses And Pei`mits Fines And Forfeited Bail 354,015 A2610 299,194 T Fines And I=orfeitures 354 015 299;194' Sales of Real Property A2660 Sales of Equipment Insurance Recoveries Refunds of Prior Year's Expenditures 420 A2665 A2680 43,688 14,881 A2701 129,835 Unclassified (specify) 1,532 A2770 3,993 TOTAL Miscellaneous Local "Sources 16,413 133,8281 St Aid, Mortgage Tax 313,290 A3005 350,085 ST. Aid, Records MgmT. 7,233 A3060 6,737 St Aid - Other (specify) 172 A3089 2,183 St Aid -Other Cul & Rec St Aid 14,874 A3889 10,958 TOTAL State Aid, mm w _ 335,569 F 369,963 TOTAL Revenues 2,404,376 3,404;330-----------1 Interfund Transfers 201,012 A5031 209,254 TOTAL nterfund Transfers 201,012, 209,2541 TOTAL Other Sources 201,012209,254 TOTAL Detail Revenues And Other Sources` 2,605,388 3,613,589 Page 5 OSC Municipality Code 500342300000 rj TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Results of Operation e Dass rpti y Zfi5dpGode, ' A06 Detail Expenditures And Other Uses Buildings, Pers Sery Budget, Contr Expend A16201 Legislative Board, Pers Sery 45,420 A10101 46,783 Legislative Board, Contr Expend 924 A10104 3,864 TOTAL Legislative Board 46,344 �w -.' 50,647 Municipal Court, Pers Sery 127,075 A11101 116,343 Municipal Court, Equip & Cap Outlay 716 A11102 103 Municipal Court, Contr Expend 258,932 A11104 228,605 T OTAL Municipal Court 386 723' 41,869 345;051' Supervisor,pers Sery 45,298 A12201 43,827 Supervisor,equip & Cap Outlay 98,751 A12202 100,707 Supervisor,contr Expend 1,095 A12204 1,670 rOrAL E s;7a 4,587E Buildings, Pers Sery Budget, Contr Expend A16201 1,496 Tax Collection,pers Sery 9,185 A13301 7,841 Tax Collection,contr Expend 4,669 A13304 4,224 124,361 A14101 Budget, Pers Sery 103,974 A13401 108,886 Budget, Equip & Cap Outlay A13402 Buildings, Pers Sery Budget, Contr Expend A16201 1,496 A13404 2,156 � O Budget- 673 Buildings, Contr Expend 62,773 Clerk,pers Sery 65,634 124,361 A14101 100,620 Clerk,contr Expend 3,253 A14104 4,523 127,df4 105,143 .Law, Contr Expend 25,359 A14204 41,869 TOTAL Laws m 3 25 359 ;ate 41.%69 • Personnel, Pers Sery 98,751 A14301 100,707 Personnel,equip & Cap Outlay A14302 Personnel, Contr Expend 8,304 A14304 8,189 707A a ;€ 107,055 108;896' Engineer, Pers Sery 174,796 A14401 171,193 Engineer, Equip & Cap Outlay A14402 21,007 Engineer, Contr Expend 11,965 A14404 7,374 TOTAL Engineer M 186361 1R9,574 Elections, Equip & Cap Outlay 1,600 A14502 Elections, Contr Expend 8,027 A14504 11,753 Records Mgmt, PerS. SerV. 55,949 A14601 55,127 Page 6 OSC Municipality Code 500342300000 Buildings, Pers Sery 29,529 A16201 28,939 Buildings, Equip & Cap Outlay 7,829 A16202 673 Buildings, Contr Expend 62,773 A16204 65,634 TQTQ u1IdiR s g= 100,131 sa 95;246 Page 6 OSC Municipality Code 500342300000 40 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Results of Operation Central Data Process & Cap Outlay 21,760 A16802 7,552 Central Data Process, Contr Expend 27,101 A16804 26,612 Unallocated Insurance, Contr Expend 33,519 A19104 36,049 DOTAL Unallocated Insu�arice _.__ _u. �mm 33...36 Q49 Municipal Assn Dues, Contr Expend 1,500 A19204 1,500 Pur of Land/right of Way, Contr Expend 1,200 A19404 T{3TAL Pur of t andtrlght of,Way ` , •, Taxes & Assess On Munic Prop, Contr Expend 6,787 A19504 6,332 Police, Pers Sery Police, Contr Expend Traffic Control, Contr Expen 16,181 A31201 15,317 20 A31204 35,240 A33104 7,401 Control of Animals, Contr Expend 22,920 A35104 20,000 • TOTAL G'ontrol<of Animals:,.. k... 22.920...,...' Street Admin, Pers Sery 109,992 Detail Expenditures And Other Uses 117,692 Street Admin, Equip & Cap Outlay Central Comm System, Contr Expend 3,734 A16504 3,462 TC3TAt Gentral Condtn System _._._. �� 3,734 A50104 2,132 Central Storeroom, Contr Expend 1,424 A16604 2,148 ._. T�fl�AL Gentral"S.toreroom�#w 1,424 26,451 - 2,148'; Central Print & Mail, Equip & Cap Outlay Garage, Equip & Cap Outlay A16702 2,648 Central Print & Mail,contr Expend 6,514 A16704 6,074 Central Data Process & Cap Outlay 21,760 A16802 7,552 Central Data Process, Contr Expend 27,101 A16804 26,612 Unallocated Insurance, Contr Expend 33,519 A19104 36,049 DOTAL Unallocated Insu�arice _.__ _u. �mm 33...36 Q49 Municipal Assn Dues, Contr Expend 1,500 A19204 1,500 Pur of Land/right of Way, Contr Expend 1,200 A19404 T{3TAL Pur of t andtrlght of,Way ` , •, Taxes & Assess On Munic Prop, Contr Expend 6,787 A19504 6,332 Police, Pers Sery Police, Contr Expend Traffic Control, Contr Expen 16,181 A31201 15,317 20 A31204 35,240 A33104 7,401 Control of Animals, Contr Expend 22,920 A35104 20,000 • TOTAL G'ontrol<of Animals:,.. k... 22.920...,...' Street Admin, Pers Sery 109,992 A50101 117,692 Street Admin, Equip & Cap Outlay A50102 Street Admin, Contr Expend 1,982 A50104 2,132 �O,TAL Street Admlrt� �m m Garage, Pers Sery 26,451 A51321 31,386 Garage, Equip & Cap Outlay 2,648 A51322 3,760 Garage, Contr Expend 137,800 A51324 60,277 r186,899 "95;423 Street Lighting, Contr Expend 34,438 A51824 30,861 TOStreet'Lightirsg •, - .'-'34.4'-- 30 881' TAL Transport 7777777 248,t)8 Recreation Admini, Pers Sery 42,347 A70201 48,890 Recreation Admini, Contr Expend 2,079 A70204 4,742 TOS Recreation Admm� ;; 44,426 �; 53,632, Parks, Pers Sery 201,593 A71101 254,095 Parks, Equip & Cap Outlay 31,668 A71102 33,859 Parks, Contr Expend 214,362 A71104 66,873 TOTAL,Parks '.:. :' :', -44 r ::. 354,827 Page 7 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Playgr & Rec Centers, Contr Expend A71404 46,083 TOTAL Playgr 8 Rec Centers rD"" A81404 Joint Youth Prog, Contr Expend 220,304 A73204 243,874 TI OTA Joint Youth• P�og 20,304 K 243;874' Historian, Pers Sery 1,000 A75101 1,000 Historian, Contr Expend 23,900 A75104 177 Celebrations, Equip & Cap Outlay 1,323 A75502 1,812 Other Culture And Rec, Contr Expend A79894 46,981 Storm Sewers, Pers Sery A81401 46,083 Storm Sewers, Contr Expend A81404 30,699 TOS Storm Sewers^� ;U.,,,', 78,782 Misc Home & Comm Serv, Contr Expend 23,900 A89894 25,900 T 4TAL Misc Home & Comm' Serv° I• 23,900 25,,90 T� OTAL Home:Arid Community ServicesU 23,900 3 102,6e12, State Retirement System 129,161 A90108 115,297 Social Security, Employer Cont 88,617 A90308 94,410 Worker's Compensation, Empl Bnfts 22,578 A90408 17,580 Life Insurance, Empl Bnfts 2,327 A90458 2,425 . Unemployment Insurance, Empl Bnfts 3,733 A90508 8,165 Disability Insurance, Empl Bnfts 6,568. A90558 7,197 Hospital & Medical (dental) Ins, Empl Bnft 330,964 A90608 301,382 TI, OTAL'Employee-B"ene#ds 'm U „; 546,456 Transfers, Other Funds 194,996 A99019 186,826 Transfers, Capital Projects Fund A99509 DOTAL Operating Transfers �� 194,996 186,826 TOTAL Other Uses ; Y 7 s. 19.4;996 � TOTAL Detail EicpentlituYes And Other Uses'`', 3,234;331 , ••" z 3;110 855` Page 8 OSC_Municipality Code 500342300000 0 (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity -Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity -End of Year 9 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 2,375,037 A8021 1,746,094 2,375,037 A8022 1,746,094 2,605,388 3,613,584 3,234,331 3,110,855 1,746,094 A8029 2,248,823 Page 9 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes 1,712,903 A1049N 1,747,353 Est Rev - Real Property Tax Items 21,200 A1099N 39,300 Est Rev - Departmental Income 19,010 Al 299N 13,950 Est Rev - Intergovernmental Charges 50,547 A2399N 50,547 Est Rev - Use of Money And Property 66,000 A2499N 270,854 Est Rev - Licenses And Permits 3,000 A2599N 3,000 Est Rev - Fines And Forfeitures 250,000 A2649N 280,000 Est Rev - Miscellaneous Local Sources 220,000 A2799N 250,000 Est Rev - Interfund Revenues 204,254 A2801 N 334,787 Est Rev - State Aid 54,312 A3099N 195,856 [ OTAt Appropriated Fund Balance„' 2601,226;` Estimated - Proceeds of Obligations A5799N 175,316 Appropriated Fund Balance 444,070 A599N 399,779 Page 10 OSC Municipality Code 500342300000 .• • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Budget Summary Appropriations And Other Uses App - General Government Support 1,261,558 Al 999N 1,500,397 App - Public Safety 47,200 A3999N 233,128 App - Transportation 256,725 A5999N 258,718 App - Culture And Recreation 725,854 A7999N 989,380 App - Home And Community Services 86,300 A8999N 89,700 App - Employee Benefits 509,125 A9199N 531,530 r�OTAL Appropriatior►s 2'$86,7623,6U2;853 App - Interfund Transfer 158,534 A9999N 157,889 Page 11 OSC Municipality Code 500342300000 rj TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (B) GENERAL TOWN -OUTSIDE VG Balance Sheet oif�,Descri�ti'c�r ,�Ot� ,hl,d Cod� B Assets Cash In Time Deposits 177,815 8201 271,407 Accounts Receivable 1,414 8380 17,000 TOTAL Other Receivalies (neo,"7" Due From Other Governments 1,414 57,633 B440 17,400!. 38,509 TOTAL Due Froin OthGovernments ertP M 7 r y 57,633 33 09 Prepaid Expenses 46,611 B480 31,022 TOPrepaid Expenses Cash, Special Reserves 4ti,611 r, 24,031 8230 31,0 41,277 Page 12 OSC.Municipality Code 500342300000 .� TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (B) GENERAL TOWN -OUTSIDE VG Balance Sheet FAI }. 2005. dpGade - OQti- - Non -Current Government Assets Accounts Payable 22,901 8600 Accrued Liabilities B601 98,567 OTAL Accrued Liabilities 0 98,587 Due To Other Funds 565 B630 T Speciat Reserves . ''„ 24,031 41,277 Unreserved Fund Balance Appropriated -7,615 B910 165,157 QTAC Unreserved Fund Balance Appropriated.w�_ _ _,', -7615 ` 165;15?i Unreserved Fund Balance Unappropriated 267,622 8911 94,214 Page 13 OSC Municipality Code 500342300000 .• TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (B) GENERAL TOWN -OUTSIDE VG Results of Operation -ode Descr�p fon ` ZQ05 l Detail Revenues And Other Sources Sales Tax (from County) 479,265 81120 538,287 Franchises 64,352 81170 67,471 TO L No Property Tax Items 543,617 G05;758; Other General Departmental Income 82701 81289 75,540 Zoning Fees 137,429 B2110 108,263 Planning Board Fees 21,321 B2115 24,015 Otf�DepartmentaI income 158,750 89,733 Youth Recreation Services, Other Govts B2350 ' i. Revenues F _.�. ,�'; � T &77 Interest And Earnings Insurance Recoveries 1,468 B2401 5,690 13,531 B2680 612 Other Compensation For Loss B2690 DOTAL Sale of, Piopetty AndCompensation dor Lo"ss', � ;'"„ ' 13;53.'1, , � � ,; $ :" 612'= Refunds of Prior Year's Expenditures 82701 Unclassified (specify) 32,000 B2770 200 i. .._ r OTAL Miscellaneous Local"Sources". > 32,OOD� 200' St Aid, State Revenue Sharing 74,800 B3001 89,733 TSOAid 74,600 ' i. Revenues F _.�. ,�'; � T &77 Interfund Transfers 3,225 B5031 Page 14 OSC Municipality Code 500342300000 .0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (B) GENERAL TOWN -OUTSIDE VG Results of Operation Detail Expenditures And Other Uses iipGode X006 Central Print & Mail, Contr Expend 1,256 B16704 1,748 Central Data Process & Cap Outlay 270 816802 619 Central Data Process, Contr Expend 11,048 B16804 15,096 T07AL Cent"rat D'afaPracess '1.1,318 3,749 � 15;715 a . Administration -Contractual 1,035 B17104 Disability Insurance, Empl Bnfts Tj OTAr;�\tlnms2ration Contractuah " Q � 0 Hospital & Medical (dental) Ins, Empl Bnft 0 Unallocated Insurance, Contr Expend 10,730 B19104 10,982 TOTAL: Unallocated Insurance 10,730 10,982 AL'"General Government Support _� 76;457 �� 117 66 Street Admin, Contr Expend B50104 Playgr & Rec Centers, Pers Sery B71401 Playgr & Rec Centers, Equip & Cap Outlay B71402 Playgr & Rec Centers, Contr Expend B71404 Zoning, Pers Sery 174,437 B80101 150,768 Zoning, Equip & Cap Outlay 1,848 B80102 14,801 Zoning, Contr Expend 6,374 B80104 5,874 Planning, Pers Sery 288,597 B80201 320,833 Planning, Equip & Cap Outlay B80202 Planning, Contr Expend 13,328 B80204 14,536 TOTAi. Home And Community Services" A TOTAL Employee Benefits; 161,605 234,7(0 TOTAL Expenditures 722,646 859,230 Transfers, Other Funds 32,436 B99019 33,971 Page 15 OSC Municipality Code 500342300000 4$4,W4;-,506,812 State Retirement, Empl Bnfts 45,726 B90108 46,611 Social Security, Empl Bnfts 34,452 B90308 35,441 Worker's Compensation, Empl Bnfts 3,749 B90408 4,130 Life Insurance, Empl Bnfts 1,035 B90458 972 Disability Insurance, Empl Bnfts 2,729 B90558 2,716 Hospital & Medical (dental) Ins, Empl Bnft 73,914 B90608 144,890 TOTAL Employee Benefits; 161,605 234,7(0 TOTAL Expenditures 722,646 859,230 Transfers, Other Funds 32,436 B99019 33,971 Page 15 OSC Municipality Code 500342300000 w TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (B) GENERAL TOWN -OUTSIDE VG Results of Operation Detail Expenditures And Other Uses Transfers, Capital Projects Fund EdpGod'e ; ��2�8;1 B99509 �'OTAt. Operat►ng Tr`arasfers ' �� 32,43ti +,�; � ', 33,87�1`s Ol AL Other Uses 32,436 33 971:; Page 16 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (B) GENERAL TOWN -OUTSIDE VG Changes in Fund Equity s escrp cert " ''.. Ztit?5 "E"dpCode"ON2€08 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 211,729 B8021 284,038 211,729 B8022 284,038 827,391 909,811 755,082 893,201 284,038 B8029 300,648 Page 17 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (B) GENERAL TOWN -OUTSIDE VG Budget Summary 0-0 deaD'escriptiori 01 E 2006: w ... E pGnde 20{i7 Estimated Revenues And Other Sources Est Rev - Non Property Tax Items 608,287 B1199N 401,287 Est Rev - Departmental Income 153,000 B1299N 114,700 Est Rev - Use of Money And Property 500 B2499N 1,500 Est Rev -State Aid 72,000 B3099N 96,960 Appropriated Fund Balance B599N 165,157 Page 18 OSC Municipality Code 500342300000 0 0 (B) GENERAL TOWN -OUTSIDE VG Budget Summary Appropriations And Other Uses App - General Government Support App - Home And Community Services TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 64,976 B1999N 517,625 B8999N 68,718 515,876 App - Employee Benefits 209,600 B9.199N 160,050 T6TAIL 792,201 744,644 App - Interfund Transfer 33,971 B9999N 34,960 Page 19 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (DB) HIGHWAY -PART -TOWN Balance Sheet rode escript'c�n. 200 EdpGade 2{}Q6 Assets Cash In Time Deposits 480,429 DB201 565,427 DOTAL Cashmm w_ 480,,628,,,x' 565,627x, Accounts Receivable 8,701 DB380 17,176 DOTAL Ota, ivables (net) Due From Other Funds �.� � 52,202 DB391 69,282 TOTAL Due From Other Funds ="52,202 69;282' ^' X51,1 Due From Other Governments 250,508 DB440 115,544 Prepaid Expenses 51,216 DB480 56,279 Cash Special Reserves 68,548 DB230 70,538 Page 20 OSC Municipality Code 500342300000 9 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (DB) HIGHWAY -PART -TOWN Balance Sheet Non -Current Government Assets Accounts Payable Accrued Liabilities DB600 42,299 DB601 77,616 Miscellaneous Reserve (specify) 39,580 DB889 67,982 UTAL""Speciai: Reserves.:: 68,,548 70,538 , Unreserved Fund Balance Appropriated 391,962 DB910 42,691 OTAt Unreserved Fund Balance =Appropriated 391,962 Unreserved Fund Balance Unappropriated 408,995 DB911 703,601 Page 21 OSC Municipality Code 500342300000 0 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (DB) HIGHWAY -PART -TOWN Results of Operation Detail Revenues And Other Sources T� OTAt: Non PrapertyTax Items ` "" 2, 012;000.x`"•; 1,641;889>' Transportation Services, Other Govts 79,464 DB2300 49,984 TOTAL;lntergovernmental Charges ;. 79,464 Interest And Earnings 3,494 DB2401 17,401 T,07ALUse of M'orreyAnd'Pro y � 3,494' 17 441; Sales of Equipment 14,959 DB2665 63,671 Insurance Recoveries Refunds of Prior Year's Expenditures 2,083 DB2680 578 6,548 . DB2701 1,788 Unclassified .(specify) DB2770 TOS• �TAI_wMi4sceltaneous Local'Socrrces,� _ r ,� � " 6;54,8, r� Fes, ,� �� 1,788; St Aid, Consolidated Highway Aid 53,103 DB3501 60,143 Page 22 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (DB) HIGHWAY -PART -TOWN Results of Operation Detail Expenditures And Other Uses Administration -Contractual 10,020 DB17104 15,208 Unallocated Insurance, Contr Expend 38,290 DB19104 37,872 TOTAL Unallocated Insurance�� _ 38,290 DB51302 37,872 TOS TAC General, GovernmenNSupport 48;31053,080' DB51304 97,505 Maint of Streets, Pers Sery 299,233 DB51101 259,186 Maint of Streets, Contr Expend 160,240 DB51104 164,211 THAI Maint pf 5trgets ��___ _ 459;473 DB51404 423,397 Improvements, Pers Sery 22,739 DB51121 26,407 Perm Improve Highway, Contr Expend 171,230 DB51124 220,898 Machinery, Pers Sery 69,773 DB51301 89,234 Machinery, Equip & Cap Outlay 154,641 DB51302 318,505 Machinery, Contr Expend 104,401 DB51304 97,505 iOAL-Snow Removal 273,539 147;767:. Brush And Weeds, Pers Sery 146,163 DB51401 140,436 Brush And Weeds, Contr Expend 19,421 DB51404 11,969 Snow Removal, Pers Sery 159,065 DB51421 88,086 Snow Removal, Equip & Cap Outlay DB51422 Snow Removal, Contr Expend 114,474 DB51424 59,681 iOAL-Snow Removal 273,539 147;767:. T.OAi; Transportation .a 1,421,380 1;476,118,, State Retirement, Empl Bnfts 78,637 DB90108 51,216 Social Security, Empl Bnfts 55,317 DB90308 50,340 Worker's Compensation, Empl Bnfts 39,666 DB90408 22,202 Life Insurance, Empl Bnfts 1,615 DB90458 1,508 Unemployment Insurance, Empl Bnfts 3,925 DB90508 648 Disability Insurance, Empl Bnfts 3,755 DB90558 3,814 Hospital & Medical (dental) Ins, Empl Bnft 190,732 DB90608 191,133 Transfers, Other Funds 32,436 DB99019 33,971 Transfers, Capital Projects Fund DB99509 Page 23 OSC Municipality Code 500342300000 0 (DB) HIGHWAY -PART -TOWN Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity- Beginning of Year Restated Fund Equity - Beg of Year " ADD - REVENUES AND OTHER SOURCES DEDUCT -EXPENDITURES AND OTHER USES Fund Equity - End of Year 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 Page 24 EitpGode 2{iQ6 573,627 DB8021 869,505 573,627 DB8022 869,505 2,171,651 1,831,354 1,875,773 1,884,030 869,505 DB8029 816,829 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (DB) HIGHWAY -PART -TOWN Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes 1,601,889 DB1049N 1,766,889 EsT. ReV. - Intergovernmental Charges 45,000 DB2399N 17,000 Est Rev - Use of Money And Property 1,800 DB2499N 10,000 Est Rev - Sale of Prop And Comp For Loss 15,000 DB2699N 15,000 Est Rev - State Aid 53,000 DB3099N 60,000 OTX1,=Appr`op'riated Fund Bala»ce 1;716,689 '' 1,868 889 Appropriated Fund Balance 391,962 DB599N 42,691 Page 25 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (DB) HIGHWAY -PART -TOWN Budget Summary Appropriations And Other Uses App - Transportation 1,660,580 DB5999N 1,509,820 App - Employee Benefits 414,100 DB9199N 366,800 OTAt Appropriations : , _. - _ _ , 2 074;680 Interfund Transfers 33,971 DB9999N 34,960 Page 26 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (FX) WATER Balance Sheet •ode bescrptian 20.05ripGode Assets Cash In Time Deposits 303,817 FX201 298,059 Water Rents Receivable 162,965 FX350 129,369 Accounts Receivable 119 FX380 335 TOTAL Other Receivahies (net) �' "' t 163 084 � ,,� �� ' 129;704 Due From Other Funds FX391 TO Due From Other Funds 4 - Due From Other Governments 1,531 FX440 1,531 Due From Other Go'vern►nerits �� __ Prepaid Expenses 20,362 FX480 16,541 TOTAL, , repaid Expe^A T ,,_,, Cash Special Reserves 7,014 FX230� 12,139 Page 27 OSC Municipality Code 500342300000 Is TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (FX) WATER Balance Sheet ID de Desc�'iption 21105 E#pGo a __ ___ 2(306 Non -Current Government Assets Accounts Payable FX600 Accrued Liabilities 76,846 FX601 26,588 TOTAL Accrued Liabilities:::'',; 76,846 � �26;568 Retained Percentages, Cont Pay 3,077 FX605 Due To Other Funds 18,098 FX630 10,070 OTAC Due Ta Other Funds ' 18;098, •••', � 10,07f1 Deferred Revenues 1,531 FX691 1,531 Miscellaneous Reserve (specify) 7,014 FX889 12,139 O ALTO ALT Special Reserves ,A ;? s , 7,014 12,A;39 ., Unreserved Fund Balance Appropriated -99,907 FX910 -220,498 Unreserved Fund Balance Unappropriated 489,149 FX911 628,145 Page 28 OSC .Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (FX) WATER Results of Operation Detail Revenues And Other Sources pGode Special Assessments Ad Valorem 494,278 FX1028 613,607 TOTAL Real Property Tates' `494;278 ss 613,607 Metered Water Sales 1,881,382 FX2140 1,679,878 Water Service Charges Interest & Penalties On Water Rents Other Home & Community Services Income 9,273 FX2144 11,900 18,144 FX2148 15,161 FX2189 Service For Other Govts 481 FX2378 579 T TAL intergovernmental Charges ��W� 481 579 Interest And Earnings 2,934 FX2401 9,001 Insurance Recoveries FX2680 TOTPropertyAnd`CompensatiorirF,or.Loss°.' Q Refunds of Prior Year's Expenditures 284 FX2701 308 �OT�f��AlriVlscellaneous,Local"$ourc��e �s � _ �_M��284 � ��308 Interfund Transfers 362 FX5031 TOTAL Other Sou"rces 362 U F Page 29 OSC Municipality Code 500342300000 0 40 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (FX) WATER Results of Operation Detail Expenditures And Other Uses Credit Card Fees 3,759 FX13754 3,276 TOTAL Cred# hard Fees _ 0 t' 0` Law, Contr Expend 23,173 FX14204 5,904 TOTAL Law, 23;17 293 Central Print & Mail, Contr Expend 1,335 FX16704 1,734 Water Administration, Pers Sery 32,117 FX83101 33,331 Central Data Process & Cap Outlay 730 FX16802 619 Central Data Process, Contr Expend 10,301 FX16804 13,212 Administration -Contractual 3,759 FX17104 3,276 TOTAL Admmstrs#ion `G`ontractua), ; 3;759 3,276; Unallocated Insurance, Contr Expend 13,679 FX19104 19,553 TOTAL Una[locateii, insurance 13,679 293 FX90458 TALGenera�°Go�ernment'Support 52,977 44,298` Water Administration, Pers Sery 32,117 FX83101 33,331 Water Administration, Contr Expend 996 FX83104 29,213 DOTAL Water Administration 32;117 33,331 w Water Trans & Distrib, Pers Sery 109,393 FX83401 112,721 Water Trans & Distrib, Equip & Cap Outlay 78,525 FX83402 73,567 Water Trans & Distrib, Contr Expend 201,908 FX83404 168,905 Common Water Supply, Contr Expend 1,362,538 FX83504 1,078,184 Other Water, Contr Expend FX83894 State Retirement, Empl Bnfts 12,827 FX90108 20,362 Social Security, Empl Bnfts 9,719 FX90308 10,328 Workers Compensation, Empl Bnfts 10,707 FX90408 9,187 Life Insurance, Empl Bnfts 293 FX90458 374 Unemployment Insurance, Empl Bnfts 467 FX90508 91 Disability Insurance, Empl Bnfts 716 FX90558 996 Hospital & Medical (dental) Ins, Empl Bnft 29,213 FX90608 53,522 TEAL Employee'i3enefits „ ' _^ � 63;942 �� ; 94;860,: Transfers, Other Funds 383,743 FX99019 521,038 Transfers, Capital Projects Fund 25,000 FX99509 180,000 Page 30 OSC Municipality Code 500342300000 lJ TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (FX) WATER Changes in Fund Equity Page 31 OSC Municipality Code 500342300000 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity- Beginning of Year 299,261 FX8021 396,256 Restated Fund Equity - Beg of Year 299,261 FX8022 396,256 ADD - REVENUES AND OTHER SOURCES 2,407,138 2,330,434 DEDUCT - EXPENDITURES AND OTHER USES 2,310,143 2,306,904 Fund Equity - End of Year 396,256 FX8029 419,786 Page 31 OSC Municipality Code 500342300000 0 (FX) WATER Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Departmental Income Est Rev -Intergovernmental Charges Est Rev - Use of Money And Property OTAI. A}iprapriateci Fund 8alagce", ;' ` Estimated - Proceeds of Obligations TOWN OF Ithaca Annual Update Document For -the Fiscal Year Ending 2006 JG , °ELipGOtle' ;W,,, 2007 607,243 FX1049N 616,822 6,000 FX1099N 6,000 1,622,000 FX1299N 1,906,800 5,000 FX2399N 500 1,200 FX2499N 2,400 L41,4+i3, !. 530,000 FX5799N JJ(.IMLG 900,000 DOTAL Estimated Other Sources .a::.. _ _.m ._.. _. e . �. 530,009', _ _...w.. 900,000 fiOTAL Estimated Revenues And Other Sources : , � � 2,771,44$" ��3,432,522 Page 32 OSC "Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (FX) WATER Budget Summary de Desciipii�rn, � �� ., S 006 EcipGode 2007 Appropriations And Other Uses App - General Government Support 42,107 FX1999N 44,705 App -Home And Community Services 2,022,750 FX8999N 2,337,300 App - Employee Benefits 85,640 FX9199N 94,760 App - Interfund Transfer f� 521,039 FX9999N 735,259 Page 33 OSC Municipality Code 500342300000 Page 34 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (G) SEWER Balance Sheet Assets Cash In Time Deposits 2,1103,500 G201 2,10{4,}0�12 Sewer Rents Receivable 167,288 G360 149,946 _ Prepaid Expenses 13,160 G480 9,346 Cash Special Reserves 4,241 G230 7,283 Page 34 OSC Municipality Code 500342300000 CI Unreserved Fund Balance Appropriated 676,194 G910 310,375 TQ,TAL Unreserved'Fund t3alane , �4ppropriated 676;194 __4rT . _ Unreserved Fund Balance Unappropriated 1,582,135 G911 1,932,414 Page 35 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (G) SEWER Balance Sheet PIFT Non -Current Government Assets _ Accounts Payable G600 p7';Ai.,Accc►unfs Paya'�iee� � �,�,�w � Accrued Liabilities �.._,._._,�..._�. �7�; 2,386 G601 16,555 T(iTAL Accrued Liablhties 77 2;386 _ µ,. .._ .,,,u a.,,555s Retained Percentages, Cont Pay' 13,481 G605 Due To Other Funds 9,752 G630 3,960 CI Unreserved Fund Balance Appropriated 676,194 G910 310,375 TQ,TAL Unreserved'Fund t3alane , �4ppropriated 676;194 __4rT . _ Unreserved Fund Balance Unappropriated 1,582,135 G911 1,932,414 Page 35 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (G) SEWER Results of Operation Code i)esdffi n`n7111 i tut? EdpGode 20()6 Detail Revenues And Other Sources 1,536 TOTAL, lntergovernmentalCharges :' � �'�,� � Special Assessments 470,180 G1030 222,607 TOTAL ReaC, l?roperfy Taxes': ; " " x "< 470;180 ". _ 222;607 Sewer Rents 1,418,617 G2120 1,295,361 Interest & Penalties On Sewer Accts 9,131 G2128 7,593 Misc Revenue, Other Govts 1,534 G2389 1,536 TOTAL, lntergovernmentalCharges :' � �'�,� � 1;534 �i�� 1`636: Interest And Earnings 52,674 G2401, 89,129 Insurance Recoveries G2680 Refunds of Prior Year's Expenditures 133 G2701 8,187 TOTAL MiscoiI666ou§ Local' Sources !- • _ ,Wti°= Interfund Transfers G5031 0 0 TOTAL Detail Revenues And Other Sources 1,952,269 • .' 1;624,413' Page 36 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (G) SEWER 7,514 G90108 13,160 Results of Operation 6,113 G90308 6,898 • de Descxiptton,. � ` � �:20Q5 ;Ed' Code 2ft96 Detail Expenditures And Other Uses Life Insurance, Empl Bnfts 193 G90458 Administration -Contractual 36,908 G17104 35,370 TOi TAL Administra#ion-Contractual36,908 Disability Insurance, Empl Bnfts 481 General Government Support 36,908 18,205 35,370 Sewer Administration, Pers Sery 18,932 G81101 19,543 Sewer Administration, Contr Expend G81104 Sanitary Sewers, Pers Sery 72,473 G81201 75,361 Sanitary Sewers, Equip & Cap Outlay 23,470 G81202 75,563 Sanitary Sewers, Contr Expend 438,399 G81204 159,197 Joint Sewer Project, Contr Expend 683,081 G81504 754,723 State Retirement, Empl Bnfts 7,514 G90108 13,160 Social Security, Empl Bnfts 6,113 G90308 6,898 Worker's Compensation, Empl Bnfts 4,288 G90408 14,706 Life Insurance, Empl Bnfts 193 G90458 183 Unemployment Insurance, Empl Bnfts 214 ' G90508 9 Disability Insurance, Empl Bnfts 481 G90558 506 Hospital & Medical (dental) Ins, Empl Bnft 18,205 G90608 25,789 Transfers, Other Funds 474,655 G99019 455,903 Transfers, Capital Projects Fund 500,000 G99509 TOTAL Operating a sr nT fer`s' _� 974,65 455,903' Page 37 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (G) SEWER Changes in Fund Equity scitpt[etn a. Wnn 2{0 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 2,595,227 G8021 2,262,570 Restated Fund Equity - Beg of Year 2,595,227 G8022 2,262,570 ADD - REVENUES AND OTHER SOURCES 1,952,269 1,624,413 DEDUCT -EXPENDITURES AND OTHER USES 2,284,926 1,636,911 Fund Equity - End of Year 2,262,570 G8029 2,250,072 Page 38 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (G) SEWER • Budget Summary or e Descair tl6h€ 0 Estimated Revenues And Other Sources Est Rev - Real Property Taxes 215,809 G1049N 220,335 Est Rev - Real Property Tax Items 6,700 G1099N 6,700 Est Rev - Departmental Income 1,357,000 G1299N 1,427,000 Est Rev -Intergovernmental Charges 1,000 G2399N 1,000 Est Rev - Use of Money And Property 24,000 G2499N 54,000 TOTAL Apprapiiated Fund Balance� � 1,604,509- ,604,508 Appropriated Appropriated Fund Balance 1,179,115 G599N 310,375 TOTAL Estimated Other Sources 1,179,115 310,376 rOTAL Estimated Revenues And Other Sources 2,783,624; 2,019,410 Page 39 OSC Municipality Code 500342300000 0 (G) SEWER Budget Summary Appropriations And Other Uses App - General Government Support App - Home And Community Services TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 43,161 G1999N 1,744,250 G8999N 39,259 1,579,557 App - Employee Benefits 40,310 G9199N 46,930 �§T: ppropr 6i 7n App - Interfund Transfer 955,903 G9999N 353,664 Page 40 OSC Municipality Code 500342300000 E TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (H) CAPITAL PROJECTS Balance Sheet el 200,5 Assets Cash In Time Deposits 561,455 H2O1 513,320 State & Federal Receivables H410 Page 41 OSC Municipality Code 500342300000 CJ i TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (H) CAPITAL PROJECTS Balance Sheet Non -Current Government Assets Accounts Payable H600 T OTA#. Accounts Payable Accrued Liabilities H601 Retained Percentages, Cont Pay H605 8,743 TOTA Rye#dined ;Percentages w t 0, ' 8,X%33, Due To Other Funds .6 H630 17,930 Capital Reserve H878 Unreserved Fund Balance Unappropriated 561,455 H911 486,647 Page 42 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (H) CAPITAL PROJECTS Results of Operation Detail Revenues And Other Sources Interest And Earnings 9,430 H2401 25,017 St Aid, Trans Cap Grants (spec) 27,586 H3597 50,800 %L1TAL Re ,venues � ' � �-. �,�,��, � � � � ��; <s:•' � 'x� _. w.. �, ��.' • 37,01.6 �r�' , �� ,75,81;7>> Interfund Transfers Serial Bonds Bond Anticipation Notes 525,000 H5031 180,000 500,000 H5710 -500,000 H5730 Page 43 OSC Municipality Code 500342300000 C] TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (H) CAPITAL PROJECTS Results of Operation Detail Expenditures And Other Uses Buildings, Equip & Cap Outlay H16202 Highway, Capital Projects H51972 Parks, Equip & Cap Outlay 44,938 H71102 Sewer, Equip & Cap Outlay Water Trans & Distrib, Equip & Cap Outlay Water Capital Projects, Equip & Cap Outlay Misc Home & Comm Serv, Equip & Cap Outlay 54,409 H81972 97,908 H83402 178,308 11,775 H83972 H89892 Transfers, Other Funds 362 H99019 Page 44 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (H) CAPITAL PROJECTS Changes in Fund Equity k ' de DSscripttars: ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity- Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year r] L 56,514 H8021 561,455 56,514 H8022 561,455 562,016 255,817 57,075 330,625 561,455 H8029 486,647 Page 45 OSC Municipality Code 500342300000 TOWN OF ITHACA CAPITAL PROJECT FUND DETAILED BALANCE SHEET DECEMBER 31, 2006 ACCOUNT DESCRIPTION Pew First Street Trumansburg TOTAL Bike Interceptors Water Trail Tank ASSETS CASH CASH IN SAVINGS TOTAL CASH OTHER RECEIVABLES DUE FROM OTHER FUNDS STATE & FEDERAL RECEIVABLE TOTAL RECEIVABLES TOTAL ASSETS LIABILITIES & FUND BALANCE LIABILITIES ACCOUNTS PAYABLE ACCRUED LIABILITIES RETAINAGE DUE TO OTHER FUNDS TOTAL LIABILITIES FUND BALANCE RESERVE FOR ENCUMBRANCES UNAPPROPRIATED FUND BALANCE TOTAL FUND BALANCE TOTAL LIABILITIES & FUND EQUITY • ACTIVE ACTIVE ACTIVE ACTIVE PROJECT PROJECT PROJECT PROJECTS $ 68,347 $ 433,351 $ 11,622 $ 513,320 $ 68,347 $ 433;351' $ 11,622' $ 68,347 a 513;320' ' $ '68,347 $' 433,351 $ 11,622 $' $ 68,347 $' 433,351 '$ 11,622 $ 513,320 97,908 97,908 17,930 - 17,930 17,930 -. 97,908 115,839 50,417 335,443 11,622 397,482 397,482 $ 50,417 $ 335,443 $ 11,622 513;320' ' $ '68,347 $' 433,351 $ 11,622 $' PAGE 45 A • 0 TOWN OF ITHACA CAPITAL PROJECT FUND DETAILED REVENUE and EXPENDITURES DECEMBER 31, 2006 RESOURCES and EXPENDITURES - $ $ - $ TOTAL Pew Bike Trail First Street Interceptors Trumansburg Water Tank AUIIVt A(,IIVL AUIIVL AUIIVt PROJECT PROJECT PROJECT PROJECTS REVENUE INTEREST EARNINGS $ 906 $ 22,562 $ 1,548 $ 25,017 REFUND OF PRIOR YEARS - - - - INTERFUND TRANSFERS 180,000 180,000 CONTRACT RECOVERY - - - STATE & FEDERAL GRANT 50,800 - - 50,800 BOND PROCEEDS - - - TOTAL CAPITAL RESOURCES $ 51,707 $ 22,562 $ 1811,548,,$ 255,817 EXPENDITURES ROAD CONSTRUCTION $ - $ $ - $ INTERFUND TRANSFERS - - LANDSCAPING - UTILITIES - - PARKING LOT PAVING - LAND & RIGHT -A -WAY - SEWER CONSTRUCTION CONTRACT - 195,816 195,816 GENERAL CONSTRUCTION CONTRACT - - - PLUMBING CONTRACT - HVAC CONTRACT - ELECTRICAL CONTRACT - - PARK & DEVELOPMENT COSTS 54,409 54,409 ENGINEERING DESIGN - - NETWORK DESIGN & INSTALLATION - WATER CONSTRUCTION CONTRACT 169,927 169,927 TESTING - - LEGAL SERVICES FURNITURE & FIXTURES CONTRACT DOCUMENTS ARCHITECTURAL FEES DIRECT TOWN WORK FORCE - - - INTEREST ON BOND ANTICIPATION NOTE - - - - TOTAL CAPITAL EXPENDITURES $ 54,409 $ 195,816 $ 169,927 $ 420,152''" PAGE 45 B (K) GENERAL FIXED ASSETS Balance Sheet Assets Land Buildings Improvements Other Than Buildings Machinery & Equipment Construction Work In Progress Infrastructure 41 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 139,868 K101 186,552 3,954,847 K102 3,959,826 347,612 K103 347,612 2,752,873 K104 2,999,977 46,411 K105 100,821 5,597,682 K106 6,119,843 Page 46 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (K) GENERAL FIXED ASSETS. Balance Sheet Non -Current Government Assets Total Non -Current Govt Assets 12,839,293 K159 13,714,631 Page 47 OSC Municipality Code 500342300000 1 0 TOWN OF ITHACA FIXED ASSETS WORKSHEET December 31, 2006 DESCRIPTION ACCT CODE I BALANCE 1/1/2006 2006 ACTIVITY ASSET BALANCES 12/31/2006 ADDITIONS DELETIONS ADJUSTM'T LAND K101 $ 139,868 $ 6,571 $ - $ 186,552 HIGHWAY - MECKLENBURG ROAD K121 3,553 40,113 3,553 EASEMENTS K130 71,000 - - 71,000 BUILDING -TOWN HALL K131 1,951,342 - - 1,951,342 BUILDING -PUBLIC WORKS FACILITY K132 2,003,505 4,978 - 2,008,483 IMPROVEMENTS OTHER THAN BLDG K103 347,612 - - 347,612 EQUIP/MCHY K104 2,752,873 440,810 193;707 2,999,977 CONSTRUCTION IN PROGRESS: PEW TRAIL K107 46,411 54,409 - 100,821 K108 - - - -. K109 - - - - K106 - - - - K141 - - - - FURNITURE & FURNISHINGS K110 184,907 - - 184,907 COMPUTER & NETWORK K116 105,563 17,074 26,590 96,047 HIGHWAY - MAPLE AVENUE K120 293,073 - - 293,073 HIGHWAY - MECKLENBURG ROAD K121 3,553 - - 3,553 HIGHWAY -WARREN ROAD K122 260,012 - - (260,012) - HIGHWAY - WYCOFF ROAD K123 108,753 - - (108,753) - SAPSUCKER WOODS K124 80,000 - - 80,000 HANSHAW RD SEWER REHAB K125 237,107 - - 237,107 W HILL IMP OAKWOOD LANE TANK K126 315,058 - - 315,058 IACOVELLI NEIGHBORHOOD PARK K201 35,611 - - 35,611 TUTLEO PARK K202 - - 263,844 263,844 HIGHWAY - STONE QUARRY ROAD K301 88,669 - - 88,669 BURNS ROAD WATER LINE K401 80,695 - - 80,695 BIGGS WATER MAIN REPLACEMENT K402 128,629 - - 128,629 2003 WEST HILL WATER TANK IMP K403 834,859 - - 834,859 BOSTWICK RD WATER TANK & TRANS K404 1,231,804 - - 1,231,804 COY GLEM PUMP STATION & PIPELINE K405 413,291 - - 413,291 SOUTH HILL WATER TANK - PHASE II K406 481,822 - - 481,822 FOREST HOME PUMP STATION K407 13,376 - - 13,376 TRUMANSBURG ROAD SEWER IMP K470 629,897 - - 629,897 FIRST STREET INTERCEPTORS K471 - 97,908 - 97,908 TRUMANSBURG ROAD WATER TANK K472 - 169,927 - 169,927 WARREN ROAD WATER MAIN K473 - - - 260,012 260,012 WYCOFF ROAD WATER MAIN K474 - - - 108,753 108,753 97 .,".$,,-, m,,263,844 "l: 13,714,631 TOTAL FIXED ASSETS CURRENT YRS APPROPRIATIONS K152 $ - $ - $ - $ - GIFTS K153 3,000 - - 3,000 INFRASTRUCTURES: DEVELOPMENT RIGHTS K161 71,000 - - 71,000 PARKS and TRIALS K162 88,523 - 54,409 894,270 440,810 6,571 40,113 263,844 BUILDINGS K163 3,966,686 - 4,978 3,971,664 WATER SYSTEMS K164 4,026,406 - 169,927 41196,333 SEWER SYSTEMS K165 867,004 - 97,908 964,912 ROADS and BRIDGES K166 381,742 - - 381,742 HWY EQUIPMENT and MACHINERY K167 3,329,369 193,707 - 3,135,662 INFORMATION TECHNOLOGY K168 105,563 26,590 17,074 96,047 TOTAL INVESTED APPROPRIATIONS 12,839,293 $ j -,,2205297'',,$ ,. 831,790 $ 263,844 ' $ 13,714,631' PAGE 47 A TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SF) FIRE PROTECTION Balance Sheet Dade Tiescriptian 2005 Ed Gcxie 2{; 6JI',: Assets Cash In Time Deposits 289,876 SF201 508,017 Page 48 OSC Municipality Code 500342300000 U TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SF) FIRE PROTECTION Balance Sheet Non -Current Government Assets Accounts Payable Ed de2006. SF600 Accrued Liabilities SF601 226,279 DOTAL Unreserved Fund Ba(ance`=Appropriated -46,423, z :101;1,09' Unreserved Fund Balance Unappropriated 336,299 SF911 180,637 Page 49 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SF) FIRE PROTECTION Results of Operation Other Public Safety Departmental Income 19,054 SF1589 19,630 Interest And Earnings 33,524 SF2401 70,455 T 7AL Use; qf, MonejrAnd ,Property ', �� :33,524„ �t, �;�� a F`; 7o;a53 Refunds of Prior Year's Expenditures SF2701 -452,558 TOTAL Miscetlaneous`L'ocat Sources. - -73 TOTAL" Revenues OPAL Detail. Revenues And=Other vciurces :'' __ 2,673;72 Page 50 OSC Municipality Code 500342300000 (SF) FIRE PROTECTION Results of Operation Detail Expenditures And Other Uses Fire Protection, Contr Expend 0 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 2,537,443 SF34104 2,405,092 Page 51 OSC Municipality Code 500342300000 (SF) FIRE PROTECTION Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 153,607 SF8021 289,876 153,607 SF8022 289,876 2,673,712 2,396,954 2,537,443 2,405,092 289,876 SF8029 281,738 Page 52 OSC Municipality Code 500342300000 i1 U TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SL) LIGHTING Balance Sheet e C?esc ' tiara 200 Ed Code 2tit)6 Assets Cash In Time Deposits 15,061 SL201 20,060 Page 53 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SL) LIGHTING Balance Sheet =� ,e ijescn: tion„ ,° - 200 dpGa e Non -Current Government Assets Accounts Payable 981 SL600 318 TpTAL Unreserved Fund.Bafance'=;Appropriated ty� 8;623 Unreserved Fund Balance Unappropriated 14,080 SL911 11,119 Page 54 OSC. Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SL) LIGHTING Results of Operation oie fees #fct10M, ZOf3 Ed C 2t)(6 Detail Revenues And Other Sources Real Property Taxes 16,088 SL1001 17,229 Interest And Earnings Refunds of Prior Year's Expenditures 125 SL2401 181 SL2701 TOTAL Revenues , ;3, g 2 ,.,- .16,213 17 41D Page 55 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SL) LIGHTING Results of Operation Detail Expenditures And Other Uses Street Lighting, Contr Expend 12,831 SL51824 11,748 Page 56 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (SL) LIGHTING Changes in Fund Equity Ode D ptio '' ..siR x°' z. ZQQ5 ss EtlpCcte ' .ef)06 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 10,698 SL8021 14,080 Restated Fund Equity- Beg of Year 10,698 SL8022 14,080 ADD - REVENUES AND OTHER SOURCES 16,213 17,410 DEDUCT - EXPENDITURES AND OTHER USES 12,831 11,748 Fund Equity - End of Year 14,080 SL8029 19,742 Page 57 OSC Municipality Code 500342300000 0 TOWN OF ITHACA LIGHTING DISTRICT FUNDS DETAILED BALANCE SHEET DECEMBER 31, 2006 ACCOUNT DESCRIPTION ACTIVE LIGHTING DISTRICTS TOTAL Forest Home Glenside Renwick Heights Eastwood Commons Clover Lane Winners Circle Burleigh Drive est Have Road Coddington Road ASSETS CASH CASH IN SAVINGS $ 4,220 $ 1,556 $ 2,714 $ 4,217 $ 475 $ 1,172 $ 1,121 $ 2,771 $ 1,814 $ 20,060 TOTAL CASH ( $ 4,220 $ 1,556 $ 2,714 $ 4,217 $ 475 $ 1,172 $ 1,121 $ 2,771 $ 1,814 $ 20,060 OTHER RECEIVABLES - STATE & FEDERAL RECEIVABLE - - - - - - - - - - TOTAL RECEIVABLES ( - - - - - - - - - ( TOTAL ASSETS ( $ 4,220 $ 1,556 $ 2,714 $ 4,217 $ 475 $ 1,172 $ 1,121 $ 2,771 $ 1,814 $ ° 20,060 ( LIABILITIES & FUND BALANCE LIABILITIES ACCOUNTS PAYABLE - - - - - - - - - - ACCRUED LIABILITIES - - - - - - - - - - TOTAL LIABILITIES FUND BALANCE RESERVE FOR ENCUMBRANCES UNAPPROPRIATED FUND BALANCE TOTAL FUND BALANCE TOTAL LIABILITIES & FUND EQUITY 0 4,220 1,556 2,714 4,217 475 1,172 1,121 2,771 1,814 20,060 $ 4,220 $ 1,556 $ 2,714 $ 4,217 $ 475 $ 1,172 $ 1,121 $ 2,771 $ 1,814 $ 20,060 j ( $ 4,220 $ 1,556 $ 2,714 $ 4,217 $ 475 $ 1,172 $ 1,121 $ 2,771 $ 1,814 $ 20,060 S r - LO a TOWN OF ITHACA LIGHTING DISTRICT FUNDS DETAILED REVENUE and EXPENDITURES DECEMBER 31, 2006 RESOURCES and EXPENDITURES ACTIVE LIGHTING DISTRICTS TOTAL Forest Home Glenside Renwick Heights Eastwood Clover Lane Winner's Circle Burleigh Drive West Haven Coddington Commons Road Road REVENUE REAL PROPERTY TAXES INTEREST EARNINGS TOTAL RESOURCES EXPENDITURES ADVANTAGE ENERGY, INC. TOTAL EXPENDITURES 0 $ 3,425 $ 1,189 $ 1,759 $ 3,558 $ 336 $ 1,034 $ 896 $ 3,176 $ 1,856 $ 17,229 36 13 22 36 4 11 11 29 18 181 $ 3,461 $ 1,202 $ 1,7$1 $ 3,594 $ 340 $ 1,045: $ 907 $ 3,205 $ 1,874 ` $ 17,410 J $ 1,777 $ 687 $ 963 $ 2,032 $ 233 $ 702 $ 815 $ 2,653 $ 1,568 $ 11,430 ($ 1,777 $ 687 $ 963 $ 2,032 $ 233 $ 702 $ 815 ` $ 2,653 $ . 1,568 $ 1194301 Ln a TOWN OF ITHACA LIGHTING DISTRICT FUNDS ANALYSIS OF CHANGES IN FUND EQUITY DECEMBER 31, 2006 RESOURCES and EXPENDITURES ACTIVE LIGHTING DISTRICTS TOTAL Forest Home Glenside Renwick Heights Eastwood Clover Lane Winner's Circle Burleigh Drive West Haven Coddington Commons Road Road BEGINNING FUND EQUITY ADD: REVENUE and OTHER RESOURCES DEDUCT: EXPENDITURES and OTHER USES ENDING FUND EQUITY $ 2,537 $ 1,041 $ 1,895 $ 2,655 $ 367 $ 829 $ 1,029 $ 2,220 $ 1,507 $ 14,080 3,461 1,202 1,781 3,594 340 1,045 907 3,205 1,874 17,410 1,777 $ 687 $ 963 $ 2,032 $ 233 $ 702 $ 815 $ 2,653 $ 1,568 11,430 ( $, 4,221 $ 1,556 $ 2,713 $ 4,217 $ 474 $ 1,172 $ 1,121 $ ' 2,772 ' $ 1,813 $ 20,060 U r` L0 a TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (TA) AGENCY Balance Sheet Assets Cash 114,215 TA200 142,915 • Page 58 OSC Municipality Code 500342300000 0 0 0 0 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (TA) AGENCY Balance Sheet Non -Current Government Assets Consolidated Payroll 13 TA10 13 Disability Insurance 638 TAI 647 Group Insurance 4,425 TA20 18,029 Guaranty & Bid Deposits 690 TA30 3,744 Other Funds (specify) 108,449 TA85 120,482 Page 59 OSC Municipality Code 500342300000 0 (V) DEBT SERVICE Balance Sheet Assets Cash In Time Deposits 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 195,982 V201 30,539 Page 60 OSC Municipality Code 500342300000 0 11 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 Unreserved Fund Balance Unappropriated 9,982 V911 30,539 Page 61 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (V) DEBT SERVICE Results of Operation TOTAL'Revenues M� Interfund Transfers 914,029 V5031 986,555 Serial Bonds V5710 200,000 TOTAIL Proceeds of Obligations, ,� � �, 0 x W � 200,00` 777 ,1,'198;528 Page 62 OSC Municipality Code 500342300000 0 • 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (V) DEBT SERVICE Results of Operation Met D.escxpt�aa Detail Expenditures And Other Uses Fiscal Agents Fees, Contr Expend Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 3,831 V13804 1,487 3;831 3:8311,487. 787,000 V97106 857,000 80,000 V97306 200,000 TOTAL Debt Principal _ _ 867,000 1,057OOQ', Debt Interest, Serial Bonds 330,148 V97107 303,484 OTAI: Ex4endrtures p ra_ 1,20b,979 k 1,361;971 TOTAL Detail.Expenditures:And Other Uses 1;2tJi),979 E Y. 1;361;971 Page 63 OSC Municipality Code 500342300000 0 E TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (V) DEBT SERVICE Changes in Fund Equity ds Description. Z`ft(35 EdpCode 20U6 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity- Beginning of Year 477,994 V8021 195,982 Restated Fund Equity - Beg of Year 477,994 V8022 195,982 ADD - REVENUES AND OTHER SOURCES 918,967 1,196,528 DEDUCT- EXPENDITURES AND OTHER USES 1,200,979 1,361,971 Fund Equity - End of Year 195,982 V8029 30,539 Page 64 OSC Municipality Code 500342300000 r • 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (W) GENERAL LONG-TERM DEBT Balance Sheet ode ° escripf4t 20f7" I✓d :Cade 20t)6 ' Assets Total Non -Current Govt Liabilities 6,644,402 W129 5,749,415 Page 65 OSC Municipality Code 500342300000 0 • 40 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2006 (W) GENERAL LONG-TERM DEBT Balance Sheet MEN cri tia yam: y20tls ,x Edsade- Ooh, Non -Current Government Assets Bond Anticipation Notes Payable 240,000 W626 Compensated Absences 117,402 W687 119,415 OTAi Other ttalitlities v 117,402 119;415 Bonds Payable 6,287,000 W628 5,630,000 Page 66 OSC Municipality Code 500342300000 0 0 0 TOWN OF Ithaca Financial Comments For the Fiscal Year Ending 2006 Page 67 • 0 0 1 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2006 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2006000004 EDPCODE Amount Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year 2P18661 Issued During the Fiscal Year (do not include renewals here) 112P18663 Paid During the Fiscal Year 11 (do not include renewals here) P18665 Outstanding End of the Fiscal Year P18667 Final Maturity Date Bond Anticipation Note No. 2003000002 EDPCODE Amount Month and Year of Issue 1/8/2003 Purpose of Issue Bldg Expansion Current Interest Rate 1.2900 utstanding Beginning of Year 2P18661 240,000 Issued During the Fiscal Year (do not include renewals here) P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 240,000 Outstanding End of the Fiscal Year 2P18667 0 Final Maturity Date 1/8/200.4 otal Bond Anticipation Note Amount Outstanding Beginning of Year 240,000 Issued During Fiscal Year 0 Paid _During Fiscal Year240,000 Outstanding End of Year F=4- 0 *' Bond Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year P18885 0 Page 68 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2006 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2004000001 EDPCODE Amount Month and Year of Issue 2/12/2004 Purpose of Issue provement (Serial) Bd Current Interest Rate 3.8800 Outstanding Beginning of Year 2P18671 934,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 66,000 Outstanding End of the Fiscal Year 2P18677 868,000 Final Maturity Date 2/12/2019 Bond No. 2004000002 EIDPCODEJ Amount Month and Year of Issue 1 5/15/2004 Purpose of Issue 1provement (Serial) Bd urrent Interest Rate 4.3460 Outstanding Beginning of Year P18671 11900,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) P18675 100,000 Outstanding End of the Fiscal Year 2P18677 1,800,000 Final Maturity Date 5/15/2024 Bond No. 2005000002 EDPCODE Amount Month and Year of Issue 9/28/2005 Purpose of Issue fill Water Tank & Main Current Interest Rate 3.6000 Outstanding Beginning of Year PP18671 500,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year 11 (do not include renewals here) P18675 30,000 utstanding End of the Fiscal Year P18677 470,000 Final Maturity Date 9/28/2015 Bond No. 2000000002 EDPCODE Amount Month and Year of Issue 5/15/1987 Purpose of Issue urrent Interest Rate Public Improvement .0680 Outstanding Beginning of Year 2P18671 150,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 150,000 Outstanding End of the Fiscal Year 2P18677 0 Final Maturity Date 5/1/2006 Page 69 OSC Municipality Code 500342300000 0 40 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2006 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2000000004 Month and Year of Issue Purpose of Issue JEDPCODE Amount 7/15/1991 Public Improvement Current Interest Rate .06625 Outstanding Beginning of Year 2P18671 1,500,000 Issued During the Fiscal Year (do not include renewals. here) P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 250,000 Outstanding End of the Fiscal Year PP18677 1,250,000 Final Maturity Date 7/15/2011 Bond No. 2000000003 EDPCODE Amount Month and Year of Issue 9/1/1989 Purpose of Issue Public improvement Current Interest Rate .0730 utstanding Beginning of Year P18671 450,000 Issued During the. Fiscal Year (do not include renewals here) P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 150,000 Outstanding End of the Fiscal Year 2P18677 300,000 Final Maturity Date 3/1/2008 Bond No. 2003000001 EDPCODE Amount Month and Year of Issue 12/29/2003 Purpose of Issue F iblic Imp (Serial) Bond Current Interest Rate 3.9500 Outstanding Beginning of Year 2P18671 853,000 Issued During the Fiscal Year (do not include renewals here) P18673 0 Paid During the Fiscal Year (do not include renewals here) 2PI8675 71,000 Outstanding End of the Fiscal Year 2P18677 782,000 Final Maturity Date 12/29/2017 Total Bond Amount utstanding Beginning of Year 6,287,000 Issued During Fiscal Year 0 Paid During Fiscal Year 817,000 i0utstanding End of Year 5,470,000 Page 70 OSC Municipality Code 500342300000 • 0 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2006 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2006000003 EDPCODEJ Amount Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year P18761 2P18763 (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date 2P18765 PP18767 F==] Bond Anticipation Note No. 2006000001 EDPCODE Amount Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year P18761 Issued During the Fiscal Year (do not include renewals here) P18763 Paid During the Fiscal Year . (do not include renewals here) J2Pl8765 Outstanding End of the Fiscal Year 2P18767 Final Maturity Date otal Bond Anticipation Note Amount Outstanding Beginning of Year 0 Issued During Fiscal Year 0 Paid During Fiscal Year 0 Outstanding End of Year. 0 ** Bond Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year P18885 0 Page 71 OSC Municipality Code 500342300000 i TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2006 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2006000002 EDPCODE Amount Month and Year of Issue 1/7/2006 Purpose of Issue Public Works Facility Current Interest Rate 3.7500 Outstanding Beginning of Year 2P18771 Issued During the Fiscal Year (do not include renewals here) P18773 200,000 Paid During the Fiscal Year (do not include renewals here) 2P18775 1 40,000 Outstanding End of the Fiscal Year P18777 160,000 Final Maturity Date 1/7/2011 7 - Total Bond Amount Outstanding Beginning of Year 0 Issued During Fiscal Year 200,000 Paid During Fiscal Year L 40,000 Outstanding End of Year 1 160,000 Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond Amount Outstanding Beginning of Year 6,527,000 Issued During Fiscal Year 200,000 Paid During Fiscal Year 1,097,000 Outstanding End of Year 5,630,000 Page 72 OSC Municipality Code 500342300000 • TOWN OF Ithaca Maturity Schedule For the Fiscal Year Ending 2006 Page 73 TOWN OF Ithaca Schedule of Securities for Collateralization For the Fiscal Year Ending 2006 General Municipal Law, Section 10 as amended by chapter 708 Laws of 1992 lists the types of securities which may be pledged for collateralization. Please click in the response box next to the type(s) of securities used by banks as collateral for your deposits. Yes 1. Obligations issued by the United States of America, an agency thereof or a United States sponsored corporation or obligations fully insured or guaranteed as to the payment of principal and interest by the United States of America, an agency thereof or a United States government sponsored corporation. 2. Obligations issued or fully guaranteed by the International Bank for Reconstruction and Development, the Inter -American Development Bank, the Asian Development Bank and the African Development 3. Obligations partially insured or fully guaranteed by any agency of the United States of America, at a proportion of the market value of the obligation that represents the amount of the insurance or Yes 4. Obligations issued or fully insured or guaranteed by this state, obligations by a municipal corporation, school district or district corporation of this state or obligations of any public benefit corporation which under a specific state statute may be accepted as security for deposit of public moneys. No 5. Obligations issued by states (other than this state) of the United States rated in one of the three highest rating categories by at least one nationally recognized statistical rating organization. 6. Obligations of Puerto Rico rated in one of three highest rating categories by at least one nationally recognized statistical rating organization. 7. Obligations of counties, cities, and other governmental entities of another state having the power to levy taxes that are backed by the full faith and credit of such governmental entity and rated in one of the three highest rating categories by at least one nationally recognized statistical rating organization. 8. Obligations of domestic corporations rated in one of the two highest rating categories by at least one nationally recognized statistical rating organization. 9. Any mortgage related securities, as defined in the Securities Exchange Act of 1934, as amended, which may be purchased by banks under the limitations established by federal bank regulatory agencies. 10. Commercial paper and bankers' acceptances issued by a bank (other than the bank with which the money is being deposited or invested) rated in the highest short-term category by at least one nationally recognized statistical rating organization and having maturities of not longer than sixty days from the date they are pledged. 11. Zero-coupon obligations of the United States government marketed as "Treasury Strips". 12. Letters of Credit. 13. Surety bonds. 40 Page 74 OSC Municipality Code 500342300000 Page 75 OSC Municipality Code 500342300000 TOWN OF Ithaca Schedule of Time Deposits and Investments For the Fiscal Year Ending 2006 EDP Code Amount CASH: r On .Hand 9Z2001 $6,534,709.00 -- Demand Deposits 9Z2011 $22,434.00 `-_ Time Deposits 9Z2021 $0.00 t.. Total $6,557,143.00 r COLLATERAL: - FDIC Insurance 9Z2014 $100,000.00 r- Collateralized with securities held in possession of municipality or its agent 9Z2014A $8,114,390.00 • Total $8,214,390.00 INVESTMENTS: - Securities (450) Book Value (cost) 9Z4501 $0.00 Market Value at Balance Sheet Date 9Z4502 $0.00 Collateralized with securities held in 9Z4504A $0.00 possession of municipality or its agent - Repurchase Agreements (451) Book Value (cost) 9Z4511 $0.00 Market Value at Balance Sheet Date 9Z4512 $0.00 Collateralized with securities held in 9Z4514A $0.00 possession of municipality or its agent Page 75 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Investment Certification For the Fiscal Year Ending 2006 DEFINITIONS: Repurchase Agreement - A generic term for an agreement in which a government entity (buyer -lender) transfers cash to a broker-dealer or financial institution (seller -borrower); the broker-dealer or financial institution transfers securities to the entity and promises to repay the cash plus interest in exchange for the same securities or for different securities. Reverse Repurchase Agreement - An agreement in which a broker-dealer or financial institution (buyer -lender) transfers cash to a government entity (seller -borrower); the entity transfers securities to the broker-dealer of financial institution and promises ro repay the cash plus interest in exchange for the same securities or different securities. RESPONSE 1) Has your Local Government adopted an investment policy as Yes required by General Municipal Law, Section 39? 2) The following investments are permitted by your investment policy. * Obligations of the UNITED STATES Yes * Obligations of the U.S. Government Agencies, guaranteed by Yes the UNITED STATES Government * Obligations of the STATE of NEW YORK Yes * Obligations of other NEW YORK STATE Local Governments No * Other 3) Do you engage in reverse repurchase agreements? No 4) Are Repurchase Agreements authorized by your investment Yes policy? Name: Title: Phone Number: U Alfred F. Carvill Officer (607) 273-1721 Page 76 DSC Municipality Code 500342300000 Bank Account Number 01-101-148038 05-201-002604 10-201-002604 11-201-002604 12-201-002604 20-201-002604 21-201-002604 22-201-002604 23-201-002604 24-201-002604 25-201-002604 26-201-002604 27-201-002604 28-201-002604 30-201-002604 37-201-002604 42-201-002604 44-201-002604 45-201-002604 46-201-002604 47-201-002604 6-201-002604 9-201-002604 0 TOWN OF Ithaca Bank Reconciliation For the Fiscal Year Ending 2006 Include.All Checking, Savings and C.D. Accounts Add: Less: Adjusted Bank Deposit Outstanding Bank Balance In Transit Checks Balance $770,334 $0 $770,334 $0 $22,434 $0 $0 $22,434 $4,469 $0 $0 $4,469 $77,207 $0 $0 $77,207 $1,413,968 $0 $0 $1,413,968 $271,407 $0 $0 $271,407 $565,427 $0 $0 $565,427 $2,555 $0 $0 $2,555 $298,059 $0 $0 $298,059 $2,104,012 $0 $0 $2,104,012 $30,539 $0 $0 $30,539 $508,017 $0 $0 $508,017 $20,060 $0 $0 $20,060 $81,241 $0 $0 $81,241 $366,058 $0 $0 $366,058 $68,347 $0 $0 $68,347 $5,358 $0 $0 $5,358 $433,351 $0 $0 $433,351 $242,800 $0 $0 $242,800 $11,622 $0 $0 $11,622 $13,508 $0 $0 $13,508 $4,380 $0 $0 $4,380 $11,524 $0 $0 $11,524 Total Adjusted Bank Balance. $6,556,343 Petty Cash $800.00 Adjustments $.00 Total Cash 9ZCASH $6,557,143 Total Cash Balance All Funds 9ZCASHB $6,557,143 * Must be equal Page 77 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Local Government Questionnaire For the Fiscal Year Ending 2006 Response 1) Does your municipality have a written procurement policy? 2) Have the financial statements for your municipality been independently audited? If not, are you planning on having an audit conducted? 3) Does your local government participate in an insurance pool with other local governments? 4) Does your local government participate in an investment pool with other local governments? 5) Does your municipality have a Length of Service Award Program (LOSAP) for volunteer firefighters? 6) Does your municipality have a Capital Plan? 7) Has your municipality prepared and documented a risk assessment plan? If yes, has your municipality used the results to design the system of internal controls? 8) Have you had a change in chief executive or chief fiscal officer during the last year? 9) Does your municipality have access to the internet? Does your municipality have an official E-mail address? If yes, what is it? Does the chief fiscal officer have a separate E-mail address? If yes, what is it? Do you have a web site? If yes, what is the official address of the web site for your municipality? Page 78 OSC Municipality Code 500342300000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Catherine Valentino , hereby certify that I am the Chief Fiscal Officer of the Town of Ithaca and that the information provided in the annual financial report of the Town of Ithaca , for the fiscal year ended 12/31/2006 is TRUE and correct to the best of my knowledge and belief. By entering the personal indentification number assigned by the Office of the State Comptroller to me as the Chief Fiscal Officer of the Town of Ithaca , and adopted by me as my signature for use in conjunction with the filing of the Town of Ithaca's annual financial report, I am evidencing my express intent to authenticate my certification of the Town of Ithaca's annual financial report for the fiscal year ended 12/31/2006 and filed by means of electronic data transmission. Alfred F. Carvill Name of Report Preparer if different than Chief Fiscal Officer (607) 273-1721 Telephone Number 02/12/2007 Date of Certification 0 Catherine Valentino Name Town Budget Officer Title 215 N. Tioga St., Ithaca, NY 14850 Official Address (607) 273-1721 Official Telephone Number Page 79 Municipality Code 500342300000 0 G TOWN OF Ithaca Supplemental Section Comments For the Fiscal Year Ending 2006 Page 80 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 Note 1 - Summary of Significant Accounting Policies The general-purpose financial statements of the Town of Ithaca have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies are described below. A. Financial Reporting Entity The Town of Ithaca was created in 1821. The Town is governed by general municipal laws of the State of New York, Town Law and various local laws. The Town Board is the legislative body responsible for the overall operation; the Town Supervisor serves as Chief Executive Officer and Chief Fiscal Officer. The Town provides the following municipal services: fire protection, transportation (streets and highways), recreation, planning and zoning, general administration, public improvements, water and sewer. Street lighting in nine separate "lighting districts" is provided within the Town. Each district is funded by way of a tax on the real property situated within each district. The Town provides for intersection street lighting from the General Fund appropriations. The Town Board via the Ithaca Fire Protection District provides fire protection for the northeast area of the Town outside the Village of Cayuga Heights. This district is funded by means of a tax on the real property situated within the district. Services for fire protection are contracted out through the City of Ithaca's paid fire department and the volunteer fire department of the Village of Cayuga Heights. All governmental activities and functions performed for the Town of Ithaca are its direct responsibility. No other governmental organizations have been included or excluded from the reporting entity. The financial reporting entity consists of the following, as defined by Governmental Accounting Standards Board (GASB) Statement #14, "The Financial Reporting Entity:" 1. The primary government is the Town of Ithaca. 2. Organizations for which the primary government is financially accountable, and; 3. Other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's general purpose financial statements to be misleading or incomplete. The decision to include a potential component unit in the reporting entity is based on the criteria set forth in GASB. Statement #14, including legal standing, fiscal dependency, and financial accountability. PAGE 1 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 Excluded from the Reporting Entity Southern Cayuga Lake Intermunicipal Water Commission (SCLIWC) is a joint venture involving the Towns of Ithaca, Dryden, Lansing, and the Villages of Cayuga Heights and Lansing. The joint venture operates under terms of an original agreement dated March 1, 1977 and has been amended several times, the last of, which is dated January 1, 1992. SCLIWC's executive body consists of ten members, two members being appointed by each municipality. The Treasurer of SCLIWC is the Town of Ithaca's Supervisor. An Annual Joint Venture financial report is filed with the New York State Comptroller's Office. The Treasurer of SCLIWC has an independent audit of the accounting conducted which includes issuing certified independent financial statements. The Town of Ithaca owns a majority (51.869%) of the Commission and must adopt its budget and any subsequent amendments. The Southern Cayuga Lake Intermunicipal Water Commission is considered a Joint Venture with the Town of Ithaca. Although the following organization, function or activity is related to the Town of Ithaca, it is not included in the Town of Ithaca reporting entity. See Note 3 for additional disclosures regarding the joint venture. Ithaca Area Wastewater Treatment Plant, with the Town of Dryden and City of Ithaca. B. Basis of Presentation - Fund Accounting The accounts of the Town are organized on the basis of funds or account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for within a separate set of self -balancing accounts that comprise its assets, liabilities, find balance, revenues and expenditures which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions and limitations. The various funds are summarized by type in the financial statements. (Certain funds of the Town are utilized to account for resources derived from, and/or expenditures applicable to an area less than the entire Town.) The following find types and account groups are used: 1. Fund Categories a. Governmental Fund Types - are those through which most governmental functions are financed. The acquisition, use and balances of expendable financial resources and the related liabilities are accounted for through Governmental Funds. The measurement focus of the Governmental Funds is based upon determination of financial position and changes in financial position. The following are the Town's Governmental Fund Types: - General Fund Townwide: Accounts for revenues (i.e., general tax and other from state, federal, and local sources) and expenditures which are not required by the law or other provisions to be PAGE 2 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 accounted for in other funds and which finance the basic governmental functions provided by the Town at Large. - General Fund Town Outside: Accounts for those transactions, which are required to be, charge on the area of the Town outside the Village of Cayuga Heights. Special Revenue Funds These Funds are utilized to account for revenues derived from specific sources, which are required by local law or regulatory State, or Federal mandates. Special Revenue Funds include the following: Highway Fund: This Fund accounts for revenues and expenditures for part -town (outside of the Village of Cayuga Heights) highway purposes. Water Fund: This is a fiend established by State Statutes to account for revenues derived from charges for water consumption and benefited assessments and the application of such revenues toward related operating expenses and debt retirement. Sewer Fund: This fund is also established by State Statutes to account for revenues derived from sewer rents and benefited assessments and used for related operating expenses and debt retirement. LiahtinjZ District Fund: This type of fund accounts for the operation and maintenance transactions of those areas within the Town where electric streetlights are provided. Revenues are derived directly from real property assessed values of those residents or other real property owners located within the special lighting district. Fire Protection District Fund: Used to record transactions involving the Town Fire Protection District and those contracts for fire protection with the City of Ithaca and the Village of Cayuga Heights. - Debt Service Fund: The Debt Service Fund accounts for interest earned on proceeds of borrowing for water and sewer capital projects. Such interest earnings (should they occur) is transferred to the Debt Service Fund from the respective Capital Projects Fund. Annual principal and interest payments due on serial bonds are transferred from the Water and Sewer Funds to the Debt Service Fund. Payments to the paying agent(s) are made directly from the Debt Service Fund to the respective paying agents in frill on scheduled due dates. - Capital Projects Fund: Capital Project Funds are used when accounting for capital improvements financed from current monies transferred from reserved and unreserved funds, federal, and state grants and proceeds of obligations (e.g. Bond Anticipation Notes or Serial Bonds). Each Capital Project Fund is created to account for financial resources that will be used for the acquisition or construction of major capital facilities, major repairs, improvements or additions to water, sewer and transportation infrastructures. PAGE 3 0 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 b. Fiduciary Funds — A municipality uses the Trust and Agency Fund to account for assets held by the local government in a trustee or custodial capacity. (e.g. Net payroll and related payroll taxes or withholdings.) - Agency Fund: Used to account for those finds held in custody and subsequent distributions, transmittal or release to other governments, individuals or to other funds. 2. Account Groups Account Groups — Accounts for control and accountability of the Town's General Fixed Assets and General Long -Term Debt. The two account groups are not "finds". Historically, these groups have been concerned only with the measurement of financial position, and not with the results of operations. With the release of GASB 34 these groups will provide greater fiscal detail regarding the future replacement of equipment and infrastructures complaint to GAAP Principals governing depreciation coupled with Capital Improvement Planning and Budgeting. - General Fixed Assets Account Group: This group accounts for land, buildings, improvements other than buildings, machinery & equipment, and construction in progress. These assets are usually for general government services. - General Long -Term Debt Account Group: This group of accounts is established to account for all long-term debt and other financing obligations of the Town. Long -Term indebtedness includes obligations such as statutory installment bonds, serial bonds and bond anticipation notes. Other obligations include unbilled retirement liabilities, and any vested or unpaid accumulated employee benefits (e.g. vacation) to be provided for in future budgets. C. Basis of Accounting/Measurement Focus Basis of accounting refers to when revenues and expenditures and the related assets and liabilities are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus. Measurement focus is the determination of what is measured. (e.g. expense or revenue) Modified Accrual Basis - all Governmental Funds and Expendable Trust Funds are accounted for using the modified accrual basis of accounting. Under this basis of accounting, revenues are recorded when measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. PAGE 4 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 Material revenues that are accrued include real property taxes, state and federal aid, sales tax and certain user charges. If expenditures are the prime factor for determining eligibility, revenues from federal and stated grants are accrued when the expenditure is made. Expenditures are recorded when incurred except that: a. Expenditures for prepaid expenses and inventory -type items are recognized at the time of the disbursements, and when goods or services have been received but not billed by the provider or vendor. b. Principal and interest on indebtedness are not recognized as expenditures until due. C. Compensated absences, such as vacation and sick leave which vests or accumulates, are charged as expenses when paid. See Note 1-J. d. Pension costs are recognized as an expenditure when billed by the State. See Note 2-13-1. - Account Groups General fixed assets are recorded at actual or estimated cost or, in the case of gifts and contributions, at the fair market value at the time received. For the year ending December 31, 2005, NO provision exists for the accounting and reserving of depreciation. General long-term debt liabilities are recorded at the par value of the principal amount. No liability is recorded for interest payable to maturity. Long-term liabilities expected to be financed from Governmental Funds are accounted for in the General long-term Debt Account Group (W Fund), rather than individual Governmental Funds. D. Property Taxes Town real property taxes are levied annually on January 1, and become a lien on that date. Property owners can elect to pay their taxes using one of two options. Taxpayers may elect to pay their bill in two installments equal to one-half the total bill, plus a 2.5 percent processing fee. If the installment option is selected, the first payment is due between January 1 and January 14, without penalty, or between January 15 and January 20 with 1 percent interest (election to pay in installments ceases January 20). The second installment is due on or before July 1, payable to the County Division of Budget and Finance. Taxpayers may elect to pay their tax bill in frill. Using this method, taxes are collected during the period January 1 to January 31, at face value and from February 1 to May 31, with interest added. The Town Receiver of Taxes collects all real estate taxes for Town and County purposes. The Town Receiver distributes the collected tax money to the Town Supervisor prior to distributing the balance collected to the County on June 1. The Town thereby is assured of 100 percent tax collection. Responsibility for the collection of unpaid taxes rests with the County. Uncollected tax liens are sold annually by the County. PAGE 5 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 E. Budgetary Data 1. Budget Policies - The budget policies are as follows: a. No later than October 5, the Town Supervisor and the Town Budget Officer submit a tentative budget to the Town Board for the fiscal year commencing the following January 1. The tentative budget includes proposed expenditures and the proposed means of financing for all finds. b. After public hearings are conducted to obtain taxpayer comments, no later than November 20, the Town Board adopts the budget. The 2005 Town Budget was adopted November 4, 2004 under Board Resolution No. 2004-170. c. The Town Board must approve all budget amendments and modifications. However, the Town Supervisor and Town Budget Officer are authorized to transfer certain budgeted amounts within departments and between revenues and appropriated expenditures when deemed needed and necessary and when closing the year-end budgetary and accounting records. d. Appropriations lapse at year-end. 2. Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded for budgetary control purposes to reserve that portion of the applicable appropriations, is employed in all funds. Encumbrances are reported as reservations of find balances since they do not constitute expenditures or liabilities. Expenditures for such commitments are recorded in the period in which the liability (e.g. unperformed (executory) contracts for goods or services) is incurred. 3. Budget Basis of Accounting Budgets are adopted annually on a basis consistent with Generally Accepted Accounting Principles. Appropriations authorized for the current year are increased by the amount of encumbrances carried forward from the prior year. Encumbrances are not considered a disbursement in the financial plan or an expenditure in the GAAP based general purpose financial statements, but reserve a portion of the applicable appropriation, thereby ensuring that the current years budgeted appropriations are not exceeded. • F. Property, Plant and Equipment - General PAGE 6 0 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 Fixed assets purchased for general governmental purposes are recorded as expenditures in the Governmental Funds and are capitalized at cost in the General Fixed Assets Account Group. Contributed fixed assets are recorded at fair market value at the date received. Fixed assets consisting of certain infrastructure type improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage, water and sewer lines and lighting systems, have been capitalized since 2000. Such assets normally are immovable and of value only to the Town. Currently NO depreciation has been provided on general fixed assets. G. Receivables Receivables are stated (accrued) at the gross amount due to and to be collected by the Town. Amounts due from state and federal governments represents amounts owed to the Town. Receivables represent reimbursements for expenditures incurred pursuant to state and federally fielded programs. Other receivables represent amounts owed to the Town including water and sewer charges, interest, and nominal charges for government services. H. Investments Investments are stated at cost, which approximates market. I. Unemployment Insurance Since January 1, 1978, Town employees are and continue to be covered by unemployment insurance. The Town has elected to discharge its liability to the New York State Unemployment Insurance Fund by means of the Benefit Reimbursement Method. This is a dollar -for -dollar reimbursement to the Unemployment Insurance Fund for benefits paid to former employees and charged to the Town's account. The Town is exempt from federal unemployment insurance tax. J. Compensated Absences Employees accrue (earn) vacation leave based on the number of years employed up to a maximum of 20 days a year. Upon separation from service, employees are paid for unused vacation time. Employees accrue (earn) sick leave at the rate of one day per month and may accumulate such credits up to a total of 120 days. Employees who retire apply any unused sick leave to pay for individual post employment health insurance benefits and potentially add accumulated sick time to be credited to their service time in the NYS Retirement System. Accrued vacation and accumulated sick leave is recorded in governmental finds as a long-term liability in the General Long -Term Debt Account Group (GLTDAG) if payable from future financial PAGE 7 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 resources, or as a fiend liability and expenditures, if payable from current resources. The liability for compensated absences increased by $2,013 during the year to $119,415 and is reported in the GLTDAG (W) Fund. K. Post Employment Benefits In addition to providing pension benefits, the Town of Ithaca provides health insurance coverage for retired employees. Substantially all of the Town's employees may become eligible for these benefits if they reach normal retirement age while working for the Town. Health care benefits are provided through an insurance company whose premiums are based on the benefits paid during the year. The Town recognizes the cost of providing benefits by recording its share of insurance premiums as an expenditure in the year paid. The Governmental Accounting Standards Board (GASB) has issued Statements No. 43 and 45, which address plan and employer reporting of Post -Employment Benefit Plans Other Than Pensions (OPEB). Compliant with these Statements and their reporting requirements, the Town of Ithaca accounting records and financial statements include accrued Post -Employment health care liability costs of $140,336. HEALTH INSURANCE CARRIER EXCELLUS Blue Cross / Blue Shield Plan — Blue PPO L. Deferred Compensation The Town offers their employees a Deferred Compensation Plan (the Plan) created in accordance with Internal Revenue Code Section 457. The Plan is available to all eligible participants, permits participants to defer a portion of their salary until future years. Amounts deferred tinder the Plan are not available to employees until termination, retirement, death or unforeseeable emergency. Effective, January 1, 1998, and to date all amounts of compensation deferred under the Plan, all property and rights purchased with the amounts, and all income attributable to these amounts are the sole the property and rights of the employee. As required, the Town Supervisor is the Chairman and Trustee of the Town's Deferred Compensation Committee. DEFFERRED COMPENSATION PLAN PEBSCO Division of Nationwide Retirement Solutions a Nationwide Financial Company 40 Note 2 Detail Notes on All Funds and Account Groups A. Assets PAGE 8 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 1. Cash and Investments State statutes govern the Town of Ithaca's investment policy. In addition, the Town of Ithaca has its own written investment policy. Town of Ithaca monies must be deposited in FDIC insured commercial banks or trust companies located within the State of New York. The Supervisor and the Town Budget Officer are authorized to use demand accounts and certificates of deposit. Permissible investments include obligations of the U.S. Treasury and U.S. Agencies, repurchase agreements, and obligations of New York State or its localities. Collateral is required for demand deposits and certificates of deposit not covered by federal deposit insurance. (FDIC) Obligations that may be pledged as collateral are obligations of the United States and its agencies and obligations of the State and its municipalities and school districts. The written investment policy does not permit Town moneys to be invested in repurchase agreements. For purposes of reporting cash flow, cash equivalents are defined as short-term, highly liquid investments that are both readily convertible to known amounts of cash at, or near their maturity. Deposits and investments at year-end were entirely covered by federal deposit insurance or by collateral held by the Town's custodial bank in the Town's name. All deposits including certificates of deposit are carried at cost. Deposits and investments are categorized as insured and for which the securities are held by the Town's agent in the Town's name, and collateralized, and for which the securities are held by the pledging financial institution's trust department or agent in the Town's name. Deposits: Total cash bank balances at December 31, 2006 totaled $6,556,343. These deposits were frilly collateralized by securities with a fair market value at December 31, 2006 of $8,073,980 or 123%. 2. Changes in Fixed Assets A summary of changes in general fixed assets as follows: DESCRIPTION BALANCE ADDITIONS DELETIONS BALANCE 1/1/06 2006 2006 12/31/06 Land $ 139,868 $ 0 $ 0 $ 139,868 Easements 71,000 0 0 71,000 Buildings 3,954,847 0 0 3,954,847 Improvements Other Than Bldg. 347,612 0 0 347,612 PAGE 9 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 Furniture and Furnishings 184,908 0 0 184,908 Network/Computer 105,563 0 26,590 78,973 Machinery & 2,752,873 0 193,707 2,559,166 Equip Infrastructures 5,236,211 0 0 5,236,211 Const in Progress 46,411 0 0 46,411 Total $ 12,691,482 $ 0 $ 220,297 $ 12,618,996 3 li3 40 Other Receivables The Town had the following receivables at December 31, 2006: Fund Special Revenue: Water Sewer Liabilities 1. Pension Plans Description Rents & Special Assessments Rents & Special Assessments Total Special Revenue An-irnmt $ 129,369 164,345 293 714 Plan Description - The Town of Ithaca participates in the New York State and Local Employees' Retirement System (ERS) and the Public Employees' Group Life Insurance Plan (Systems). These are cost sharing multiple -employer retirement systems. The Systems provide retirement benefits as well as death and disability benefits. Obligations of employers and employees to contribute and benefits to employees are governed by the New York State Retirement and Social Security Law (NYSRSSL). As set forth in the NYSRSSL, the Comptroller of the State of New York (Comptroller) serves as sole trustee and administrative head of the Systems. The Comptroller shall adopt and may amend rules and regulations for the administration and transaction of the business of the Systems and for the custody and control of their fields. The Systems issue a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by writing to the New York State and Local Retirement Systems, 110 State Street, Albany, NY 12244. Funding Policy - The Systems are noncontributory except for employees who joined the New York State and Local Employees' Retirement System after July 27, 1976 who contribute 3 percent of their salary. Under the authority of the NYSRSSL, the Comptroller shall certify annually the rates expressed as proportions of payroll of members, which shall be used in computing the contributions, made by employers to the pension accumulation field. Chapter 126 (Laws of 2000) adds Article 19 `Benefit Enhancements" of the New York State and Local Employees' Retirement PAGE 10 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 System. An eligible Tier III or IV member with ten (10) or more years of membership or ten (10) of credited service, will NOT be required to contribute to the Retirement System. Effective in 2000 the Town adopted Section 41j of the Retirement System. This allows a retiring municipal employee to add service credit by using accumulated sick time. The Town of Ithaca is required to contribute at an actuarially determined rate. The required contributions for the current and preceding years since 2000: ERS 2006 $ 238,282 2005 $ 246,646 2004 $ 273,864 2003 $ 318,221 2002 $ 26,412 2001 $ 34,903 2000 $ 9,692 Town contributions made to the Systems were equal to 100% of the contributions required each year. Since 1989, the Systems' billings have been based on Chapter 62 of the Laws of 1989 of the State of New York. This legislation requires participating employers to make payments on a current basis, while amortizing existing unpaid amounts relating to the Systems' fiscal years ended March 31, 1988 and 1989 (which otherwise were to have been paid on June 30, 1989 and 1990, respectively) over a 17 year period, with an 8.75% interest factor added. Local governments were given the option to prepay this liability. The Town's total unpaid liability at the end of 2006 fiscal year was $0. While GASB and the New York State Comptroller's Office differ on the accounting treatment of budgetary savings from the change in the payment date from December 15`x' to February I" for the New York State and Local Retirement System, the Town of Ithaca accounting records reflect prepaid retirement costs totaling $238,282 for the year 2006. To achieve the necessary budgetary savings as directed by the New York State Comptroller's Office these prepaid costs will be charged against the Town's 2006 budget. In 2005 the Town of Ithaca establishment a "General Purpose Benefit Cash Reserve" for fixture economic rise and falls in not only retirement benefits but other employee benefits too. (E.g. Health Insurance) The balance in the cash reserve account at December 31, 2006 is $242,800. Increases (deposits) or decreases (withdrawals) to the "benefit reserve" will be assessed annually. 2. Short -Term Debt Liabilities for bond anticipation notes (BANs) are generally accounted for in the Capital Projects Fund. The notes or renewal may not extend more than five years beyond the original date of issue unless a portion is redeemed within five years and within each 12 -month period thereafter. For short-term financing the Town of Ithaca redeems (pays down) one fifth (115) of the original BAN borrowing. PAGE 11 0 0 0 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 State law requires that BANs issued for capital purposes be converted to long-term obligations within five years after the original issue date. However, BANs issued for assessable improvement projects may be renewed for periods equivalent to the maximum life of the permanent financing, provided that stipulated annual reductions of principal are made. As of December 31, 2006, temporary financing totaled zero —0- in Bond Anticipation Notes (BANs) outstanding for the Town of Ithaca. 3. Long -Term Debt a. At December 31, 2006, the total principal indebtedness outstanding of the Town of Ithaca aggregated $5,630,000. Of this amount, $ 982,000 was subject to the Town's constitutional debt limit and represented zero percent (1.7%) of its debt limit. Further calculations disclosed that the Town of Ithaca meets the 7% indebtedness requirement and has not exhausted its borrowing and repayment abilities. b. Bonds - The Town of Ithaca borrows money in order to acquire land or equipment or construct buildings and improvements. This enables the cost of these capital assets to be paid for by both present and future taxpayers receiving the benefit of the capital assets. These long-term liabilities, which are fill faith and credit debt of the Town, are recorded in the General Long - Term Debt Account Group. The provision to be made in future budgets for capital indebtedness represents the amount exclusive of interest, as authorized to be collected in future years from taxpayers and others for liquidation of the long-term liabilities. C. Other Long -Term Debt: In addition to the above long-term debt the Town of Ithaca had the following non-current liability: * Compensated Absences: represents the value of earned and unused portion of the liability for compensated absences. d. Summary Long -Term and Short -Term Debt- The following is a summary of liabilities outstanding at December 31, 2006 by fund type and account group: Liability Serial Bonds Bond Anticipation Notes Compensated Absences Total Outstanding PAGE 12 Debt Account Grout $ 5,630,000 -0- 119,415 $ 5,749.415 0 TOWN OF ITHACA CONSTITUTIONAL DEBT LIMIT The following was prepared, pursuant to Title 8, Article II of the Local Finance Law. DEBT LIMIT Taxable Real Property: 12/31/01 $ 735,563,251 12/31/02 745,064,483 12/31/03 774,028,362 12/31/05 937,022,814 12/31/06 1,019,584,844 Total for 2002 — 2006 $ 4,211,263,754 Average Five (5) Year Full Valuation $ 842,252,751 Permitted Percentage of the "Average Full Valuation" 7% Town of Ithaca Debt Limit (1) $ 58,957,693 (1) $63,224,061 represents the maximum amount of gross or net debt that the Town of Ithaca can issue and have outstanding allowable under the New York State Constitution, Article VIII, Section 2. TOTAL NET INDEBTEDNESS Borrowings Outstanding @12/31/06 $ 5,670,000 Total Inclusions (2) $ 5,670„000 Less total exclusions: (2) Water & Sewer Indebtedness (4,688,000) Total Net Indebtedness $ 982,000 (2) This amount does not include the Town's share of a small borrowing by the City of Ithaca for the Ithaca Area Waste Water Treatment Facility. 1 PAGE 12 A • NET -CONTRACTING MARGIN Debt limit $ 58,957,693 Less: Total Net Indebtedness 982,000 Net Debt -Contracting Margin $ 57,975,693 PERCENTAGE OF DEBT -CONTRACTING POWER EXHAUSTED "Total Net Indebtedness" divided by "Debt Limit" 1.7% 2 PAGE 12 B TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 e. The following is a summary of changes in Long -Term liabilities for the period ended December 31, 2006: Serial Due Employee Compensated Installment Bonds Retirement Absences Bond Bal 1/1/06 $ 6,527,000 $ 0 $ 117,402 $ 0 Additions 200,000 0 2,013 0 Deletions 1,097,000 0 0 0 Bal 12/31/065.630.000 $ 0 $ 119,415 _$__0 Deletions due to employee retirement and compensated absences are shown at net since it is impracticable to determine these amounts separately. Interest expense for the year ended December 31, 2006 amounted to $303,484. Unpaid Bond Interest on the remaining outstanding indebtedness at December 31, 2006 is $1,378,796. This represents an 18% decrease in long-term interest liability for the Town of Ithaca between 2005 and 2006. f. Long -Term Debt Maturity Schedule - The following is a statement of serial bonds and bond anticipation note(s) with corresponding maturity schedule. (See Exhibits A, B) g. The following table summarizes the Town of Ithaca's future debt service requirements as of December 31, 2006. (See Exhibit C) C. Reconciliation of Inter -fluid (between funds) Activities Inter -fund receivables and payables at December 31, 2006 were as follows: FUND Gen'l Town -Wide General Part -Town Highway Water Sewer Capital Projects Debt service TOTAL • 0 DUE FROM RECEIVABLE $2,376 0 69,282 0 0 0 0 DUE TO PAYABLE $ 39,698 0 0 10,070 3,960 17,930 0 INTERFUND REVENUE $ 209,254 0 35,900 0 0 180,000 986,555 INTERFUND EXPENSE $ 186,826 33,971 33,971 701,038 455,903 0 0 $ 71,658 $ 71,568 $ 1,411,709 $ 1,411,709 PAGE 13 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 D. Fund Equity 1. Reserves a. The General Townwide Fund equity includes reserve fields established for future the purpose of park development and the purchasing of development rights as outlined in the Town's Open is Space Plan. The balance at the end of 2006 was $366,058. The Reserve Fund was established at the October 2, 1997 Town Board meeting under Board Resolution No. 170. Interest earnings and additional funding for the year both increased the reserve cash. b. The Highway Equipment equity includes reserve finds established for highway machinery.The balance at the end of 2006 was $2,555. This Reserve Fund was established at the November 8, 1984 Town Board meeting under Board Resolution No. 193. The reserve is funded by any unexpended budgeted equipment appropriations for machinery at year-end. The reserve cash is also increased by interest earned for the year. c. The General Town Wide Fund, the General -Part Town Fund, the General Part -Town Highway Fund, the Water Fund, and the Sewer Fund equity includes finds established for fiscally managing annual economic increases and decreases in employee fringe benefits (E.g. NYS Retirement Costs, Health Insurance). The aggregate balance at the end of 2006 was $242,800. This Reserve Fund was established at the June 13, 2005 Town Board meeting under Board Resolution No. 084. The reserve is funded on an annual basis as assessed by the Town Board. The reserve cash is increased by interest earned for the year. 0 1* 2. Sewer Fund Balance General Town Wide Fund $ 114,117 General Part -Town Fund 41,277 General Part -Town Highway Fund 67,983 Water Fund 12,140 Sewer Fund 7,283 The Sewer Fund balance is partially committed to debt repayment for the local share of the construction costs of the jointly owned Ithaca Area Wastewater Treatment Plant, benefit charge stabilization and repair, replacement and maintenance of the sewer system. Note 3 - Joint Venture The following is an activity undertaken jointly with other municipalities. This activity is excluded from the Town's financial statements. Ithaca Area Wastewater Treatment Plant - The Town of Ithaca is also a participant in the joint sewer activity known as the Ithaca Area Wastewater Treatment Plant. The other participants are the Town PAGE 14 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 of Dryden and the City of Ithaca. The City of Ithaca has custody of the joint activity money. Construction of the treatment plant began in the spring of 1984. Capital costs allocated to the Town of Ithaca are 41 percent of the total. PAGE 15 0 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 EXHIBIT A ISSUE DESCRIPTION ISSUE ORIGINAL INTEREST MATURITY 9/1/89 DATE ISSUE RATE DATE PUBLIC IMPROVEMENT / 1989 ( 49% WATER - 51 % SEWER ) WATER IMP / 1ST SERIES 1987 WATER IMP / 2ND SERIES 1987 OLD STH HILL WATER / 1ST AUTH OLD STH HILL WATER / 2ND AUTH CODDINGTOIN RD SEWER SEWER IMP / 1ST SERIES 1987 SEWER IMP / 2ND SERIES 1987 PUBLIC IMPROVEMENT (SERIAL) , 2003 PUBLIC WORKS FACILITY EXPANSION PUBLIC IMPROVEMENT (SERIAL), 2006 SOUTH HILL WATER TRANSMISSION MAIN PHASE II — SIB, 2005 BOSTWICK RD WATER TANK and TRANSMISSION MAIN (SERIAL), 2004 PUBLIC IMPROVEMENT (SERIAL), 2004 PUBLIC IMPROVEMENT BOND / 1991 ( 52% WATER - 48% SEWER) 9/1/89 $ 2,580,000 7.30% 03/01/08 9/1/89 $ 479,000 7.30% 03/01/08 9/1/89 $ 500,000 7.30% 03/01/08 9/1/89 $ 143,982 7.30% 03/01/08 9/1/89 $ 112,018 7.30% 03/01/08 9/1/89 $ 11,000 7.30% 03/01/08 9/1/89 $ 384,000 7.30% 03/01/08 9/1/89 $ 950,000 7.30% 03/01/08 12/29/03 $ 1,000,000 3.95% 12/29/17 01/07/06 $ 200,000 3.75% 01/07/11 09/28/05 $ 500,000 3.60% 09/28/15 02/12/04 $ 1,000,000 3.88% 02/12/19 11/15/04 $ 2,000,000 4.346% 07/15/91 $ 4,465,000 6.625% PAGE 16 11/15/24 07/15/11 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 TOTAL ISSUED DEBT @ 12/31/06 $ 11,745,000 PAGE 17 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 EXHIBIT B ISSUEOUTSTANDING ALLOCATED DEBT 12/31/06 TOWNWIDE SPECIAL DISTRICTS PUBLIC IMPROVEMENT SERIAL BOND PUBLIC WORKS FACILITY EXPANSION PUBLIC IMPROVEMENT/ 1989 ( 49% WATER - 51 % SEWER ) PUBLIC IMPROVEMENT BOND / 1991 ( 52% WATER - 48% SEWER) SOUTH HILL WATER TRANSMISSION MAIN PHASE II (SIB), 2005 BOSTWICK RD WATER TANK & TRANSMISSION MAIN (SERIAL), 2004 PUBLIC IMPROVEMENT (SERIAL), 2004 TOTAL LONG TERM DEBT PAGE 18 $ 782,000 $ 782,000 $ 0 160,000 160,000 0 $ 300,000 $ 0 $ 300,000 $ 1,250,000 $ 0 $ 1,250,000 $ 470,000 $ 0 $ 470,000 $ 868,000 $ 0 $ 868,000 $ 1,800,000 $ 0 $ 1,800,000 $ 5,630,000 $ 982,000 $ 4,648,000 0 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 EXHIBIT C ISSUE DESCRIPTION 2007 2008 2009 2010 PRIN INT PRIN INT PRIN INT PRIN INT PUBLIC IMPROVEMENT $ 150,000 $ 16,425 $ 150,000 $ 5,475 BOND / 1989 2011 - 2024 PRIN INT PUBLIC IMPROVEMENT 250,000 82,813 250,000 66,250 $ 250,000 $ 49,688 $ 250,000 $ 33,135 $ 500,000 $ 16,563 BOND / 1991 21,518 498,000 75,096 40,000 3,000 0 PUBLIC IMPROVEMENT 71,000 29,612 71,000 26,914 71,000 24,216 BOND / 2003 PUBLIC WORKS 40,000 7,500 40,000 6,000 40,000 4,500 FACILITY EXPANSION SIB / 2005 SOUTH HILL WATER 30,000 16,920 40,000 15,840 50,000 14,400 TRANSMISSION MAIN SIB / 2005 BOSTWICK RD WATER 66,000 32,398 66,000 29,837 66,000 27,276 TANK & TRABSMISSION MAIN (SERIAL) BOND / 2004 PUBLIC IMPROVEMENT 100,000 75,500 100,000 71,250 100,000 67,000 (SERIAL) BOND / 2004 71,000 21,518 498,000 75,096 40,000 3,000 0 0 50,000 12,600 300,000 32,400 67,000 24,696 603,000 105,887 100,000 62,750 1,500,000 401,250 TOTAL ANNUAL DEBT $ 707,000 $ 261,168 $ 717,000 $ 221,566 $ 577,000 $ 187,080 $ 578,000 $ 157,699 $ 3,441,000 $ 632,696 PAGE 19 0 Sheet2 TOWN OF ITHACA SCHEDULE OF LONG TERM DEBT ACCOUNT GROUP FOR THE YEAR ENDING DECEMBER 31, 2006 ACCOUNT DESCRIPTION BEGINNING ADDITIONS DELETIONS ADJUSTMENTS ENDING CODE BALANCE 2006 I 2006 I 2006 BALANCE 1/1/2006 12/31/2006 W125 AMT PROV L/T DEBT TOTAL ASSETS 6,527,000.00 - 897,000.00 - 5,630,000.00 117,402.36 119,415.02 117,402.36 - 119,415.02 6,644,402.36 119,415.02 1,014,402.36 - 5,749,415.02 W628 BONDS PAYABLE 6,527,000.00 - 897,000.00 - 5,630,000.00 W629 STATUTORY INSTALLMENT BONDS - - - - - W637 DUE TO E.R.S. - - - - - W687 COMPENSATED ABSENCES 117,402.36 119,415.02 117,402.36 - 119,415.02 TOTAL LIABILITIES 6,644,402.36 119,415.02 1,014,402.36 0.00 5,749,415.02 Page 1 0 Page 1 of 1 Thank you, 500342300000 from the TOWN of ITHACA, for your Submission to the Local Government Services and Economic Development Data Exchange System on 02/12/2007 02:58:02 PM. Please note that this acknowledgment does not mean that you submitted the correct file. It only means that you clicked on the Submit button and that a file may have been attached. All submissions are subject to verification by OSC. Home You may save or print this page for your records. https://nysoscl l .osc. state.ny.us/product/efsdex.nsf/FileNo/500342300000?EditDocument... 2/12/2007 L TOWN OF ITHACA Summary of Fund Balance By Fund For the Years Ending 2001 - 2006 and Beginning 2007 2001 Description General Townwide General Part Town Highway Water. Sewer Fire Protection Risk Retention Debt Service Lighting Districts Total Fund Equity Beginning Detail Operating Unreserved Funds $ 1,122,800 $ 396,586 $ 839,159 $ 682,906 $ 2,455,881 $ 72,616 $ 67,876 $ 7,197 $ 6,454 $ 5,651,475 Kendall Property Tax Reserve Funds 22,686 - - - - - - - - 22,686 Equipment Reserve Fund - - 692 - - - - - - 692 Highway Building Reserve Funds 50,057 - - - - - - - - 50,057 Parks & Open Space Reserve Funds 149,560 - - - - - - - - 149,560 Total Fund Equity Beginning @1/1/2001 $ 1,345,103 $ 396,586 $ 839,851 $ 682,906 $ 2,455,881 $ 72,616 $ 67,687 $ 7,197 $ 6,454 $ 5,874,281 Add: Revenue & Other Sources 2,569,120 491,773 1,371,260 1,916,391 2,099,569 1,980,395 12,814 837,016 16,851 11,295,189 Deduct: Expenses & Other Uses (2,118,691) (532,878) (1,415,014) (1,977,743) (1,734,273) (1,901,813) (6,950) (838,269) (13,341) (10,538,972) Fund Equity Ending Balance @ 12/31/2001 $ 1,795,532 $ 355,481 $ 796,097 $ 621,554 $ 2,821,177 $ 151,198 $ 73,551 $ 5,944 $ 9,964 6,630,498 2002 Description General Townwide General I PartTown Highway Water Sewer I Fire I Protection Risk I Retention Debt Service Lighting Districts Total Fund Equity Beginning Detail Operating Unreserved Funds $ 1,410,617 $ 355,481 $ 791,219 $ 621,554 $ 2,821,177 $ 151,198 $ 73,551 $ 5,944 $ 9,964 $ 6,240,705 Kendall Property Tax Reserve Funds 23,677 - - - - - - - - 23,677 Equipment Reserve Fund - - 4,878 - - - - - - 4,878 Highway Building Reserve Funds 180,144 - - - - - - - - 180,144 Parks & Open Space Reserve Funds 181,094 - - - - - - - - 181,094 Total Fund Equity Beginning @1/1/2002 $ 1,795,532 $ 355,481 $ 796,097 $ 621,554 $ 2,821,177 $ 151,198 $ 73,551 $ 5,944 $ 9,964 $ 6,630,498 Add: Revenue & Other Sources 2,619,027 501,648 1,437,116 1,916,753 1,972,431 2,060,450 11,511 802,221 9,691 11,330,848 Deduct: Expenses & Other Uses (2,269,257) (598,256) (1,737,191) (2,102,759) (1,789,920) (2,004,639) (11,108) (802,638) (12,192) (11,327,960) Fund Equity Ending Balance @ 12/31/2002 _ $ 2,145,302 $ 258,873 $ 496,022 $ 435,548 $ 3,003,688 $ 207,009 $ 73,954 -$ 5,527 $ 7,463 6,633,386 TOWN OF ITHACA Summary of Fund Balance By Fund For the Years Ending 2001 - 2006 and Beginning 2007 2003 Description General Townwide General I Part Town Highway I Water I Sewer I Fire I Protection Risk I Retention Debt Service Lighting Districts Total Fund Equity Beginning Detail Operating Unreserved Funds $ 1,937,351 $ 258,873 $ 488,220 $ 435,548 $ 3,003,688 $ 207,009 $ 73,954 $ 5,527 $ 7,463 $ 6,417,633 Kendall Property Tax Reserve Funds 24,109 - - - - - - - - 24,109 Equipment Reserve Fund - - 7,802 - - - - - - 7,802 Highway Building Reserve Funds - - - - - - - - - - Parks & Open Space Reserve Funds 183,842 - - - - - - - - 183,842 Total Fund Equity Beginning @1/1/2003 $ 2,145,302 $ 258,873 $ 496,022 $ 435,548 $ 3,003,688 $ 207,009 $ 73,954 $ 5,527 $ 7,463 $ 6,633,386 . Add: Revenue & Other Sources 2,689,053 593,487 1,798,193 1,923,929 1,895,940 2,078,708 10,902 792,214 13,646 11,796,072 Deduct: Expenses & Other Uses (2,360,200) (647,414) (1,903,246) (1,897,319) (2,640,031) (2,071,541) (9,378) (792,001) (12,427) (12,333,557) Fund Equity Ending Balance @_12/31/2004 Fund Equity Ending Balance @ 12/31/2003 $ 2,474,155 $ 204,946 $ 390,969 $ 462,158 $ 2,259,597 $ 214,176 $ 75,478 $ 5,740 $ 8,682 6,095,901 , 2004 Description General Townwide General I Part Town Highway 1 Water Sewer 1 Fire 1 Protection Risk Retention Debt Service Lighting Districts Total Fund Equity Be -ginning Detail Operating Unreserved Funds $ 2,240,548 $ 204,946 $ 383,167 $ 462,158 $ 2,259,597 $ 214,176 $ 75,478 $ 5,740 $ 8,682 $ 5,854,491 Kendall Property Tax Reserve Funds 24,309 - - - - - - - - 24,309 Equipment Reserve Fund - - 7,802 - - - - - - 7,802 Highway Building Reserve Funds - - - - - - - - - - Parks & Open Space Reserve Funds 209,297 - - - - - - - - 209,297 Total Fund Equity Beginning @1/12004 $ 2,474,155 $ 204,946 $ 390,969 $ 462,158 $ 2,259,597 $ 214,176 $ 75,478 $ 5,740 $ 8,682 $ 6,095,900 Add: Revenue & Other Sources 2,589,236 648,923 2,064,210 2,174,911 1,951,578 2,350,394 10,402 1,511,043 14,586 13,315,283 Deduct: Expenses & Other Uses (2,712,113) (676,435) (1,957,136) (2,347,428) (1,822,073) (2,650,318) (5,154) (1,038,789) (12,570) (13,222,016) Fund Equity Ending Balance @_12/31/2004 Y $ 2,351,278 $ 177,434 $ 498,043 $ 289,641 $ 2,389,102 $ (85,748) $ 80,726 $ 477,994 $ 10,698 6,189,167 j TOWN OF ITHACA Summary of Fund Balance By Fund For the Years Ending 2001 - 2006 and Beginning 2007 2005 Description General Townwide General Part Town Highway Water Sewer Fire Protection Risk I Retention Debt Service Lighting Districts Total Fund Equity Beginning Detail Operating Unreserved Funds $ 2,080,678 $ 177,434 $ 471,260 $ 289,641 $ 2,389,102 $ (85,748) $ 80,726 $ 477,994 $ 10,698 $ 5,891,785 Equipment Reserve Fund - - 26,784 - - - - - - 26,784 Highway Building Reserve Funds - - - - - - - - - - Parks & Open Space Reserve Funds 270,599 - - - - - - - - 270,599 Total Fund Equity Beginning @1/1/2005 $ 2,351,278 $ 177,434 $ 498,043 $ 289,641 $ 2,389,102 $ (85,748) $ 80,726 $ 477,994 $ 10,698 $ 6,189,168 Add: Revenue & Other Sources 2,519,640 827,391 2,171,651 2,407,138 1,952,269 2,673,712 6,517 918,967 16,213 13,493,498 Deduct: Expenses & Other Uses (3,137,893) (755,745) (1,838,601) (2,315,794) (2,088,671) (2,750,646) (7,731) (1,200,979) (12,831) (14,108,891) Fund Equity Ending Balance @ 12/31/2005 $ 1,733,025 $ 249,080 $ 831,093 $ 380,985 $ 2,252,700 $ (162,682) $ 79,512 $ 195,982 $ 14,080 $ 5,573,775 j TOWN OF ITHACA Summary of Fund Balance By Fund For the Years Ending 2001 - 2006 and Beginning 2007 2006 Description General Townwide General I Part Town Highway Water Sewer f Fire I Protection Risk I Retention Debt Service Lighting Districts Total Fund Equity Beginning Detail Operating Unreserved Funds $ 1,254,370 $ 260,007 $ 800,957 $ 389,242 $ 2,258,329 $ 289,876 $ 79,511 $ 195,982 $ 14,080 $ 5,542,352 Equipment Reserve Fund - - 28,986 - - - - - - 28,986 Highway Building Reserve Funds - - - - - - - - - - Parks & Open Space Reserve Funds 345,776 - - - - - - - - 345,776 General Purpose Benefit Reserve 66,439 24,031 39,580 7,014 4,241 - - - - 141,304 Total Fund Equity Beginning @1/1/2006 $ 1,666,584 $ 284,038 $ 869,523 $ 396,256 $ 2,262,570 $ 289,876 $ 79,511 $ 195,982 $ 14,080 $ 6,058,419 Add: Revenue & Other Sources 3,564,265 909,811 1,831,355 2,330,434 1,624,413 2,396,954 49,320 996,528 17,410 13,720,490 Deduct: Expenses & Other Uses (3,058,072) (893,201) (1,884,030) (2,306,904) (1,636,910) (2,405,092) (52,783) (1,161,972) (11,748) (13,410,710) �und Equity Ending Balance @ 12/31/2006 $ 2,172,777 $ 300,648 $ 816,848 $ 419,786 $ 2,250,072 $ 281,738 $ 76,048 $ 30,539 $ 19,742 $ 6,368,198 j Less: Amount of Additional Fund Balance Appropriated and Committed in the Adopted 2007 Budget Less: Reserved Portion of Fund Blance Parks & Open Space Gen'I Benefit Purposes Equipment Total Net Fund Equity Beginning 1/1/2007 (399,779) (165,157) (42,691) 220,498 (310,375) (101,101) (4,300) - (8,623) (811,528) (366,058) - - - - - - - - (366,058) (114,117) (41,277) (67,983) (12,140) (7,283) - - - - (242,800) (2,555) - - - - - - (2,555) $ 1,292,823 $ 94,214 $ 703,619 $ 628,145 $ 1,932,414 $ 180,637 $ 71,748 $ 30,539 $ 11,119 $ 4,945,257