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Home My WebLink About2008 Annual Report Submitted to the NYS Comptrollern u 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 12/31/2008 AUTHORIZATION ARTICLE 3, SECTION 30 of the GENERAL MUNICIPAL LAW: 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 and School Accountability 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 2007 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2008: (A) GENERAL (B) GENERAL TOWN -OUTSIDE VG (DB) HIGHWAY -PART -TOWN (FX) WATER (G) SEWER (H) CAPITAL PROJECTS (K) GENERAL FIXED ASSETS t� (SF) FIRE PROTECTION (SL) LIGHTING (TA) AGENCY (V) DEBT SERVICE (W) GENERAL LONG-TERM DEBT All amounts included in this update document for 2007 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 Time Deposits and Investments 3) Bank Reconciliation 4) Local Government Questionnaire 5) Schedule of Employee and Retiree Benefits 6) Schedule of Energy Costs and Consumption All numbers in this report will be rounded to the nearest dollar. 0 0 Page 2 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Balance Sheet Assets Cash In Time Deposits 1,653,018 A201 2,012,358 Petty Cash 600 A210 725 TOTAL Cash 1,653,618 2,013,083; Accounts Receivable A380 TOTAL'Other Receivabies (net) ;' 0 0 - State & Federal, Other 42,957 A410 TOTAL State And Federal Aid Receivables) 42,957 _. _ Due From Other Funds 53,270 A391 TOTAL Due From -Other Funds r 53,270 Due From Other Governments 286,383 A440 198,883 TOTAL Due From. Other Governments 198,883 Prepaid Expenses 130,709 A480 120,022 :,. TOTAL Prepaitl Expenses ' 130;709 120,022 _ 2_ Cash, Special Reserves 559,798 A230 614,949 TOTAL Restricted Assetsy 559,798 614,949 _.. TOTAL Assets 2,726,735 n 2,946,937 V r 9 • Page 3 OSC Municipality Code 500342300000 L] TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A)GENERAL Balance Sheet Code on Liabilities And Fund Equity Accrued Liabilities 183,685 A601 159,284 TOTAL Aqc'-rueid!LW3411ties; 183,685..; 159,264 Due To Other Funds 32,144 A630 TOTAL bub To Other Funds. 32,144 -- 0 Deferred Revenues 40,000 A691 2,035 - TOTAL Deferred Revenues 40,000 2,035 TOTAL Liabilities 255.829 ,, General Reserve 559,798 A870 614,949 TOTAL 0 es 614,949' Unreserved Fund Balance Appropriated 452,610 A910^ 430,773 Unreserved Fund BAI!n.--. TOTAL -'ce'- j�phai�a� '452,01 011-�, 0 43 .773i Unreserved Fund Balance Unappropriated 1,458,498 A911 1,739,896 -' TOTAL Unreserved --�''-'F"t't'n'd'--Bai-ti-n't,6---Un-a�op,rol�4 d 1,458,498 1,739,896] TOTAL Fund Equity :;470"906 2785618 TOTAL Liabilities And Fund Equity77 9 20 46.93Z Page 4 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation Detail Revenues And Other Sources Real Property Taxes 1,746,602 A1001 1,771,501 TOTAL Real Property Taxes 1,746,602 y 1,771,501, Other Payments In Lieu of Taxes 23,715 All 081 40,963 Interest & Penalties On Real Prop Taxes 27,181 A1090 16,049 TOTAL Real Property Tax It :F 4 r a XJ d # 50,896 57,02 Non Prop Tax Dist By County 525,155 A1120 493,351 TOTAL Non Property.1, ltems h yq ? 525,1'5b tt 493,351 Clerk Fees 3,758 A1255 N 3,553 Public Pound Charges, Dog Control Fees 245 A1550 350 Contributions, Private Agencies -Youth A2070 Other Home & Community Services Income 16,098 A2189 35,274 TOTAL Departmental Income { n 201'01 x 39177 Youth Recreation Services, Other Govts 58,762 A2350 61,909 TOTAL Intergovernmental Charges 3 58 762 ""4 ; s Interest And Earnings 127,415 A2401 63,636 Rental, Other (specify) 40,133 A2440 45,779 TOTAL Use of Money And -Property s Dog Licenses 6,785 A2544 11,495 TOTAL Licenses And Permits Fines And Forfeited Bail 254,536 A2610 254,673 TOTAL Fines And Forfeitures 54 - 2 254 673 ..._. r,.... t...v ...+1, v.,5MR, Sales of Real Property A2660 Sales of Equipment A2665 Insurance Recoveries 3,842 A2680 1,399 TOTAL Sale of Property And Compensation For Loss 3,842 y 1,399 Refunds of Prior Year's Expenditures 27,082 A2701 111,062 Grants From Local Governments 3,413 A2706 4,000 Unclassified (specify) A2770 TOTAL Miscellaneous Local Sources -- 30;495 115,062 St Aid, Mortgage Tax 325,220 A3005 372,390 ST. Aid, Records MgmT. 5,542 A3060 St Aid - Other (specify) 181 A3089 358 St Aid -Other Cul & Rec St Aid A3889 TOTAL State Aid 330,943 372,748r TOTAL Revenues „ , 3,195,665. 3,287,742a • Interfund Transfers 339,787 A5031 338,671 TOTAL Interfund Transfers 339,787 338,6719 TOTAL Other Sources 339,787 338,671:!, TOTAL Detail Revenues And Other Sources 3,535,452 3,626,41i;l Page 5 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation ;Gide Description r - �s-'` 4j 2007 ' " ' EdpCpde ;:f 2008 Detail Expenditures And Other Uses 139,7541 Engineer, Pers Sery 190,766 A14401 Legislative Board, Pers Sery Engineer, Equip & Cap Outlay 48,935 A10101 50,011 Legislative Board, Contr Expend 11,405 2,803 A10104 3,253 TOTAL Legislative. Board _ 51,738- Elections, Contr Expend 53,264 Municipal Court, Pers Sery 7,052 117,479 A11101 123,734 Municipal Court, Equip & Cap Outlay Records Mgmt, PerS. SerV. 1,128 A11102 55,019 Municipal Court, Contr Expend 196,982 A11104 175,417 TOTAL Municipal Court A14604 315,589" 299,151 Supervisor,pers Sery 44,151 A12201 45,967 Supervisor,equip & Cap Outlay 22,075 • Buildings, Equip & Cap Outlay A12202 A16202 Supervisor, contr Expend • Buildings, Contr Expend 1,323 A12204 1,957 TOTAL Superyisor 104,118 45,474 100,875:; 47,924 _ _ _. 3,352 TOTAL Central Comm System 3,452 Auditor, Contr Expend 3,3521 7,514 A13204 5,593 TOTAL Auditorr . _ 7;514 5,593i Tax Collection,pers Sery �� 7,722 A13301 _ 54,586 Tax Collection, contr Expend 3,587 A13304 4,845 TOTAL, tax 6i lection .._ _ ._ .. 1'1,309 v._. 59,431x' , Budget, Pers Sery 112,700 A13401 71,592 Budget, Equip & Cap Outlay A13402 Budget, Contr Expend 2,019 A13404 1,098 TOTALBudget w Clerk,pers Sery 117,869 A14101 123,325 Clerk,contr Expend 5,046 A14104 7,154 TOTAL Clerk', , ... _ ., ,' 122,915. _.._ 130,4791 Law, Contr Expend 32,014 A14204 28,773 TOTAL Law: 32,014 28,773 Personnel, Pers Sery 106,365 A14301 114,256 Personnel,equip & Cap Outlay A14302 Personnel, Contr Expend 14,504 A14304 25,498 TOTAL Personnel 720,869 139,7541 Engineer, Pers Sery 190,766 A14401 204,305 Engineer, Equip & Cap Outlay 18,642 A14402 15,815 Engineer, Contr Expend 11,405 A14404 14,220 TOTAL Engineer 220,813 234,340, Elections, Contr Expend 13,228 A14504 7,052 TOTAL Elections 13,228 7,052,15 Records Mgmt, PerS. SerV. 58,467 A14601 55,019 Records Mgmt, Equip & Cap Outlay A14602 Records Mgmt, Contr Expend 9,665 A14604 9,703 TOTAL Records Mgmt 68,132 64,722; Buildings, Pers Sery 26,334 A16201 22,075 • Buildings, Equip & Cap Outlay 2,395 A16202 1,423 • Buildings, Contr Expend 75,389 A16204 77,377 TOTAL Buildings 104,118 100,875:; Central Comm System, Contr Expend 3,452 A16504 3,352 TOTAL Central Comm System 3,452 3,3521 Page 6 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation Code DeseripUon • , _ ,, ,,. - _ a ; _ 2007 "� EdpCode ^ 2048 Detail Expenditures And Other Uses 32,44S•� TOTAL Transportation 262,194 Central Storeroom, Contr Expend 1,822 A16604 1,977 TOTAL Central Storeroom .• - 1,822 Recreation Admini, Contr Expend 1,977 Central Print & Mail, Equip & Cap Outlay 7,200 A16702 6,843 TOTAL Central_Print & Mair • _ _ . _ , _ - . 7,200 Parks, Pers Sery 6,843 Central Data Process & Cap Outlay 9,868 All 6802 4,368 Central Data Process, Contr Expend 32,580 All 6804 32,136 TOTAL Central Data Process 42;448 k TOTAL Parks 36,504 Unallocated Insurance, Contr Expend 73,455 A19104 73,978 TOTAL Unallocated Insurance 73,455 TOTAL Playgr & Rec Centers 73 978 r. Municipal Assn Dues, Contr Expend 1,500 A19204 1,500 TOTAL Mumcipal-Assn Dues 1,500 y 1,500 Pur of Land/right of Way, Contr Expend A19404 TOTAL Pur of Land/right of Way,0 __._ .. Taxes & Assess On Munic Prop, Contr Expend 7,417 A19504 9,857 TOTAL Taxes &.Assess - n Mumc Prop 7,417 9,857; TOTAL General Government Support _ 1,365,726 :1,378,059 Police, Pers Sery 13,751 A31201 _ TOTAL Police Traffic Control, Contr Expen 12,159 A33104 22,131 TOTAL Traffic Control = : ' _ - ^. _-.- _. - X 12;159 ._. 22,131 r._. Control of Animals, Contr Expend 20,700 A35104 33,270 TOTAL -Control of Animals ' -- 20,700 33',270. TOTAL Publicsafety, 46,610 - 55;401; Street Admin, Pers Sery 126,717 A50101 138,094 Street Admin, Equip & Cap Outlay A50102 998 Street Adm in, Contr Expend 2,508 A50104 2,103 TOTAL Street Admin,129,225 141,195 Garage, Pers Sery 46,504 A51321 50,302 Garage, Equip & Cap Outlay 2,774 A51322 7,793 Garage, Contr Expend 54,684 A51324 55,715 TOTAL Garage- 103,962 113,810; Street Lighting, Contr Expend 29,007 A51824 32,445 TOTAL Street Lighting 29,007 32,44S•� TOTAL Transportation 262,194 287,450.± Recreation Admini, Pers Sery 58,279 A70201 63,066 Recreation Admini, Contr Expend 2,913 A70204 4,503 TOTAL Recreation Admini 61,192 67,560 11 Parks, Pers Sery 249,803 A71101 188,719 Parks, Equip & Cap Outlay 40,400 A71102 44,864 Parks, Contr Expend 125,347 A71104 143,499 TOTAL Parks 415,550 377,0824 Playgr & Rec Centers, Contr Expend A71404 TOTAL Playgr & Rec Centers 0 0 Page 7 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation bo'de DesemptionU °r .�� xd �� :2007 EtlpCode,; air 2008 �r Detail Expenditures And Other Uses TOTAL Expenditures _ 3,071,480 , 3,164,6161 Joint Youth Prog, Contr Expend 250,745 A73204 242,317 TOTAL Joint Youth. Prog . 250,745 µ TOTAL Operating Transfers 242,3171 Historian, Pers Sery 1,000 A75101 1,000 Historian, Contr Expend 3,313,369 A75104 TOTAL Historian _ , . _ 1,000 - 1,000 Celebrations, Equip & Cap Outlay 2,991 A75502 2,198 TOTAL Celebrations 2,991 2,198 _.. Other Culture And Rec, Contr Expend A79894 TOTAL Other Culture AndRec ti . 0 TOTAL Culture And Recreation 731,478 w 690,16fij Storm Sewers, Pers Sery 30,507 A81401 52,337 Storm Sewers, Contr Expend 51,750 A81404 60,262 TOTAL Storm Sewers ` 82,257 z _ 112,599 Misc Home & Comm Serv, Contr Expend 25,900 A89894 25,900 TOTAL Misc Home & Comm Sery _. 25,900 25,90 TOTAL Home And.Commumty Services 108,157 y 138,499 State Retirement System 125,094 A90108 121,229 Social Security, Employer Cont 100,512 A90308 102,901 Worker's Compensation, Empl Bnfts 21,066 A90408 14,080 Life Insurance, Empl Bnfts 2,589 A90458 2,549 Unemployment Insurance, Empl Bnfts 488 A90508 1,193 Disability Insurance, Empl Bnfts 8,303 A90558 8,056 Hospital & Medical (dental) Ins, Empl Bnft 299,263 A90608 365,033 TOTAL Empioy -6 4s' r enef 557;315 615,041 rs TOTAL Expenditures _ 3,071,480 , 3,164,6161 Transfers, Other Funds 157,889 A99019 147,085 Transfers, Capital Projects Fund 84,000 A99509 TOTAL Operating Transfers 241,889 147,0851 TOTAL Other Uses 241,889 147,0851 TOTAL Detail Expenditures And Other Uses 3,313,369 3,311,701'; Page 8 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A)GENERAL Changes in Fund Equity Y Z21 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 • 2,248,823 A8021 2,470,906 2,248,823 A8022 2,470,906 3,535,452 3,626,413 3,313,369 3,311,701 2,470,906 A8029 2,785,618 Page 9 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes 1,771,501 Al 049N 2,083,635 Est Rev - Real Property Tax Items 43,500 A1099N 62,850 Est Rev - Non Property Tax Items 50,000 Al 199N 190,498 Est Rev - Departmental Income 21,350 Al 299N 38,150 Est Rev - Intergovernmental Charges 65,747 A2399N 55,852 Est Rev - Use of Money And Property 108,000 A2499N 109,500 Est Rev - Licenses And Permits 3,000 A2599N 6,500 Est Rev - Fines And Forfeitures 300,000 A2649N 250,000 Est Rev - Miscellaneous Local Sources 250,000 A2799N 185,180 Est Rev - Interfund Revenues 395,871 A2801 N 406,221 Est Rev - State Aid 0 A3099N 0 TOTAL Estimated Revenues? t.. ` r..._ 3,388386,.aU ._ _.`{ v_ ....3,008,969 __. _._ .,_ _ ._ __ Estimated - Proceeds of Obligations 140,316 A5799N 1,220,426 Appropriated Fund Balance 452,610 A599N 430,773 TOTAL Est�mated_6th erSources 592,926F &_t 1,651;199_ - = _ _ TOTAL Estimated Revenues And Other Sources „ 3,601,895 N 5,039;585 0 Page 10 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Budget Summary Appropriations And Other Uses App - General Government Support 1,496,844 Al 999N 1,604,648 App - Public Safety 115,012 A3999N 75,412 App - Transportation 284,849 A5999N 361,555 App - Culture And Recreation 894,427 A7999N 891,504 App - Home And Community Services 86,148 A8999N 123,660 App - Employee Benefits 577,530 A9199N 584,600 TOTALAppropnat�ons App - Interfund Transfer 147,085 A9999N 1,398,206 TOTAL Other Uses. - y 147,085 - 1,398,206 r TOTAL Appropriations And Other Uses .... .........._.- 3,601,895 N p 5,039 585 Page 11 OSC Municipality Code 500342300000 E TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN -OUTSIDE VG Balance Sheet Assets Cash In Time Deposits 223,255 8201 335,523 3:q TOTAL Cash 35,52 Accounts Receivable 8380 915 TOTAL 6th6r, Receivables (net)` 0 915 Due From Other Governments 8440 TOTALDue From Othe'rjovernmen s: Prepaid Expenses 35,624 B480 35,458 's TOTAL repjjd1,E_"xpeT- - e's Cash, Special Reserves 44,199 B230 44,575 TOTAL' _,- Restricted - - :Sic, Assets 44j1199� 416.47i] TOTAL.Assets 303 ,078 Page 12 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN -OUTSIDE VG Balance Sheet Liabilities And Fund Equity Accounts Payable B600 Payable TOTAL Accounts aya le 01 Accrued Liabilities 75,745 B601 91,190 TOTAL -Accrued Liabilities 75,745" 91.196 Due To Other Funds B630 TOTAL Due ,T-o'. Other Fu_nds TOTAL Liabilities: : 75 745 - e'.., A "'A Miscellaneous Reserve (specify) 44,199 8889 44,575 TOTAL Special Reserves ".57 1 . Unreserved Fund Balance Appropriated 74,025 B910 28,147 TOTAL Unreserved Balance,:Appropriated 74,025 28,147 Unreserved Fund Balance Unappropriated 109,109 B911 252,559 TOTALijnieserveia*u��6 ancii, unaporopna e r".�J niBalance 109,109 252 55% 0 1 T Furid Equity 227,333 TOTAL F h 325,281 TOTAL Lia'6`ilitleiAnd F6nd,Ea'u1tj:, 1 3 416. 4 Page 13 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN -OUTSIDE VG Results of Operation 2007, ,.:) p o e...l Detail Revenues And Other Sources Sales Tax (from County) 371,410 B1120 637,981 Franchises 69,417 81170 76,278 Property TOTAL Non 0i 440,827,- 714,25 Other General Departmental Income 24,865 B1289 148,710 Zoning Fees 96,313 B2110 8,728 Planning Board Fees 23,631 82115 32,777 TOTAL 'deparimintaii Income t. 144,809 Youth Recreation Services, Other Govts 82350 TOTAL Intergovernmental Charges Ire Interest And Earnings 6,175 B2401 2,650 TOTAL 6s M Use of And Property ' Insurance Recoveries 896 B2680 1,080 TOTAL Sale of 'Property And Compensation For Loss 1,080] Refunds of Prior Year's Expenditures 76,017 82701 53,916 Unclassified (specify) B2770 7 TOTAL lii'!iceitin ou 5-io' ca"l, i Sources 76,017 ':,� 53 91 6i St Aid, State Revenue Sharing 92,425 83001 95,198 TOTAL State Aid'. 92,42595,198 TOTAL Revenues . 761 0 57 Interfund Transfers 85031 TOTAL Intertund Transfers, _ x .'. 0, TOTAL Other Sources _0 TOTAL Detail Revenues And Other Sources 761',149- - I,: ' - 1,057,318 Page 14 OSC Municipality Code 500342300000 11 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN -OUTSIDE VG Results of Operation ;Code Description `�. ,�;; • ,_ l;�, . �; � z .r =- s _ - r '2007, - -EdpCode -- � .2008 Detail Expenditures And Other Uses Social Security, Empl Bnfts 34,904 B90308 Auditor, Contr Expend 1,057 B13204 1,215 TOTAL Auditor. , ..' _ ' ._ - - - - 1,057. 864 1,215'6 Law, Contr Expend 67,476 B14204 62,754 TOTAL Law 67;476 " .r... : 62,754' Central Comm System, Contr Expend 1,581 B16504 1,518 TOTAL Central Comm System r.. ;' • 1,581 _ 1518" Central Print & Mail, Contr Expend 1,174 B16704 y 1,564 ;. -. TOTAL' Central Print &_Mail _ . - ' . ^ - - 1,174 1,564 Central Data Process & Cap Outlay - 8,594 B16802 1,997 Central Data Process, Contr Expend 15,756 B16804 16,381 TOTAL Central Data Process T 24,350 " 18,378 _c Administration -Contractual B17104 TOTAL ,Admunstration Contractual N ____ . �.j _ 0 Unallocated Insurance, Contr Expend __ 9,992 B19104 12,064 TOTAL Unallocated Insurance _.._ _ 9,992 12,01 TOTAL General Government Support 105,630 97,493 Street Admin, Contr Expend B50104 -- - TOTAL Street Admin 0 0" TOTAL Transportation.. Playgr & Rec Centers, Pers Sery B71401 Playgr & Rec Centers, Equip & Cap Outlay B71402 Playgr & Rec Centers, Contr Expend B71404 TOTAL Playgr & Rec.Centers =' p - 0 TOTAL Culture And Recreation Zoning, Pers Sery 154,464 880101 184,422 Zoning, Equip & Cap Outlay B80102 Zoning, Contr Expend 7,352 B80104 9,863 TOTAL Zoning_ , , - 161,816 '' .. 194,285? Planning, Pers Sery 315,975 B80201 346,723 Planning, Equip & Cap Outlay B80202 Planning, Contr Expend 17,804 B80204 53,911 TOTAL Planning 333,779, 400,634 TOTAL Home And Community Services 495,595 594,919.1 State Retirement, Empl Bnfts 31,022 B90108 35,624 Social Security, Empl Bnfts 34,904 B90308 39,604 Worker's Compensation, Empl Bnfts 1,978 B90408 1,200 Life Insurance, Empl Bnfts 864 B90458 998 Disability Insurance, Empl Bnfts 2,706 B90558 3,066 Hospital & Medical (dental) Ins, Empl Bnft 126,805 B90608 148,555 TOTAL Employee Benefits 198,279 229,047,1 TOTAL Expenditures 799,504 921,459' Transfers, Other Funds 34,960 B99019 37,911 Page 15 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN -OUTSIDE VG Results of Operation Detail Expenditures And Other Uses Transfers, Capital Projects Fund 2007.. d6Code 2008 B99509 TOT Transfers x 34,960 37,911 TOTAL Other Uses 34',960 37,911 TOTAL Detail Expenditures And Other Uses 834;464 959,3761) Page 16 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN -OUTSIDE VG Changes in Fund Equity Code Descripiaons i . _ _, 2007,, , s EtlpCode ;2008 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 11 300,648 B8021 227,333 300,648 B8022 227,333 761,149 1,057,318 834,464 959,370 227,333 B8029 325,281 Page 17 OSC Municipality Code 500342300000 (B) GENERAL TOWN -OUTSIDE vG Budget Summary Estimated Revenues And Other Sources Est Rev ' Non Property Tax Items Est Rev ' Departmental Income Est Rev - Use of Money And Property TOWN OFIthaca Annual Update Document For the Fiscal Year Ending 20O8 707,981 131 199N 792,964 79.000 B1289N 137,500 2,000 B2499N 2,000 Est Rev -State Aid 89,000 auoyom 89,000 � Appropriated Fund Balance 74,025 B599N 28,147 Sources T_ 014 _ji 52 TOT ' " �� Page 18 OSC Municipality Code 500342300000 TOWN OF Ithaca * Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN -OUTSIDE VG Budget Summary Appropriations And Other Uses App - General Government Support 66,775 B1999N 77,662 App - Home And Community Services 646,420 B8999N 718,250 App - Employee Benefits 200,900 B9199N 215,500 TOTALAppropriations App - Interfund Transfer 37,911 B9999N 38,199 - TOTALOther Uses 1" 38199 11 Page 19 OSC Municipality Code 500342300000 9 • • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY -PART -TOWN Balance Sheet F2.2007 EdpCode Y2098 Assets Cash In Time Deposits 747,165 DB201 577,441 Petty Cash 200 DB210 200 TOTAL 4L bash", 747,365 57 64. Accounts Receivable 630 DB380 TOTAL Other Receivables 0-1 Due From Other Funds 60,871 DB391 - ' 51 TOTAL Due, Fr6rn theri 0 Due From Other Governments DB440 1,141 TOTAL Due �rh- Other - overnrfidnts- �_ 01,141 Prepaid Expenses 53,215 DB480 58,108 - T TOTAL 0 Prep es % I I pens -7- 3,2 %J, 58 10&1 Cash Special Reserves 84,949 DB230 85,587 TOTAL Restricted ss - Assets. 7-1 TOTAL As .- 1--L " J 9 03 .22 Page 20 OSC Municipality Code 500342300000 0 411 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY -PART -TOWN Balance Sheet Liabilities And Fund Equity Accounts Payable DB600 .P A" v TO Accounts Accrued Liabilities 52,140 DB601 108,779 Capital Reserve 2,574 DB878 2,593 Miscellaneous Reserve (specify) 82,375 DB889 82,994 TOTAL sirvd& Unreserved Fund Balance Appropriated 336,518 DB910 459,339 T 336;51 i 459'-3310 uE, " - - Unreserved Fund Balance Unappropriated 473,423 DB911 68,772 Page 21 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY -PART -TOWN Results of Operation Detail Revenues And Other Sources Sales Tax (from County) 1,766,889 DB1120 1,542,841 TOTAL NoriProperty Tax Items % J 1,786,889 1 1,542,841 .. _ s Transportation Services, Other Govts 22,306 DB2300 24,877 TOTAL Intergovernmental Charges > 22r3U6 12 24,8777 Interest And, Earnings 18,565 DB2401 6,641 T07AL Use of ji—onev.4n&O,ropertyr 4 i _._ ._ Y Sales of Equipment 18,270 DB2665 18,072 Insurance Recoveries DB2680 1,088 TOTAL Sale of Property And Compensation For Loss 18 270 " 19160 __.; f ,..p.: .....,.. .v. o. u.._ Refunds of Prior Year's Expenditures 2,330 DB2701 57,652 Unclassified (specify) DB2770 25 -Gr . 2'33 TAL Miscellaneous Local Sources' x ; OT .._._ µ0_....g St Aid, Consolidated Highway Aid 60,561 DB3501 74,018 TOTAL State Aid r 60 561 74 01$ TOTAL Revenues Interfund Transfers DB5031 TOTAL Interfund Transfers t 0 Y 0 TOTAL Other Sources A 0 k� 0 TOTAL Detail RevenuesAnd Other S Uh? 1 888 927�� ' 1 725 2147 Page 22 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY -PART -TOWN Results of Operation 'C0006sodo ` -T _07 Edp. Code 0 Detail Expenditures And Other Uses TOTAL Expenditures 1,775,900. Administration -Contractual DB17104 315 TOTAL A6m_initir ation_c6nirai6'tuai, = -0,315 34,060 Unallocated Insurance, Contr Expend DB19104 34,960 TOTAL Unalfocaied Insurance 0 1,810,860 GovernmentjS6bjj6.4_L'% TOTAL 'Ge^ne'rW315 '6,i-�T,",'.',�'.',7- Z_ Maint of Streets, Pers Sery 237,168 DB51 101 262,450 Maint of Streets, Contr Expend 132,220 DB51104 158,885 TOTAL Ma'iiit' Streets369,388 "K, 421,335 Improvements, Pers Sery 87,656 DB51121 75,255 Perm Improve Highway, Contr Expend 305,374 DB51124 240,794 TOTAL,'O i 111 -' _' Perm rn ro H. 11? VIPJ .6 _ _ T, Machinery, Pers Sery 74,861 DB51301 76,611 Machinery, Equip & Cap Outlay 121,200 DB51302 118,134 Machinery, Contr Expend 67,691 DB51304 85,429 TOTAL Machinery . .. 2.. _y . ... ... Brush And Weeds, Pers Sery 165,801 DB51401 255,856 Brush And Weeds, Contr Expend 14,966 DB51404 12,299 TOTAL Brush And Weeds > 180,767 r 268A661 Snow Removal, Pers Sery 167,265 DB51421 151,674 Snow Removal, Equip & Cap Outlay DB51422 Snow Removal, Contr Expend 103,292 DB51424 104,175 TOTAL Snow0V 1 270,45 TOTAL Transportation'' State Retirement, Empl Bnfts 56,279 DB90108 53,214 Social Security, Empl Bnfts 60,005 DB90308 62,515 Worker's Compensation, Empl Bnfts 41,208 DB90408 40,615 Life Insurance, Empl Bnfts 1,393 DB90458 1,393 Unemployment Insurance, Empl Bnfts 1,368 DB90508 3,346 Disability Insurance, Empl Bnfts 3,769 DB90558 3,717 Hospital & Medical (dental) Ins, Empl Bnft 134,384 DB90608 261,818 TOTAL Employee Benefits, 298,406 426,61 TOTAL Expenditures 1,775,900. 11,968,495 Transfers, Other Funds 34,960 DB99019 37,911 TOTAL Operating Transfers 34,060 37,9112 TOTAL Other Uses 34,960 37,9111 TOTAL Detail Expenditures And Other Uses 1,810,860 2,006,406,,' Page 23 OSC Municipality Code 500342300000 CJ TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY -PART -TOWN Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 816,829 DB8021 894,890 Restated Fund Equity - Beg of Year 816,829 DB8022 894,890 ADD - REVENUES AND OTHER SOURCES 1,888,921 1,725,214 DEDUCT - EXPENDITURES AND OTHER USES 1,810,860 2,006,406 Fund Equity - End of Year . 894,890 DB8029 613,698 Page 24 OSC Municipality Code 500342300000 'TOWN OFIthaca Annual Update Document For the Fiscal Year Ending 2O08 (DB) HIGHWAY -PART -TOWN Budget Summary Estimated Revenues And Other Sources Est Rev ' Real Property Taxes 1,542,841 oo1049w 1,448,310 ssT.nox ' Intergovernmental Charges 12.000 oauuuwm 12.000 Est Rev ' Use ofMoney And Property 10.000 DB2488N 8.000 Est Rev ' Sale ofProp And Comp For Loss 16.000 oaooy*w 25,000 Est Rev ' State Aid 61.000 oaouyom 74.000 TOTA Estimate Revenues Estimated ' Proceeds orObligations oo5799w 200,000 Appropriated Fund Balance 336.518 oo599N 4ee.339 Page 25 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY -PART -TOWN Budget Summary Jt Appropriations And Other Uses App - Transportation 1,559,748 DB5999N 1,567,850 App - Employee Benefits 380,700 DB9199N 418,600 TOTAL 400priations 7,986,450 Interfund Transfers 37,911 DB9999N 238,199 TOTAL Other Uses, -37,911 238,199 V.. 1 TOTAL aiions"Xnd 3' 2,49 2 - Page 26 OSC Municipality Code 500342300000 0 r1j TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (FX) WATER Balance Sheet Assets Cash In Time Deposits 335,143 FX201 385,034 TOTAL Cash 34 385,034 Water Rents Receivable 146,469 FX350 129,722 Accounts Receivable FX380 83 TOTAL "di6r,Receivables ' k V -129.805,! Due From Other Funds FX391 TOTAL Due From Other Funds � `' s x � T �' Due From Other Governments FX440 TOTAL 'Due '-From Other -"61 omprnmen NU !L34.bL:, Prepaid Expenses 15,616 FX480 12,849 TOTAL Prepaid F�cpenses 4' 61 ,15 Cash Special Reserves 13,435 FX230 13,546 Page 27 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (FX) WATER Balance Sheet Liabilities And Fund Equity Accounts Payable FX600 TOTAL Accounts ' 0 0 able--- , Accrued Liabilities 15,812 FX601 5,508 TOTAL Accrued Liabilities - 5,8' 2 5,508 Retained Percentages, Cont Pay FX605 TOTAL Retained Percentages k 0 0 .,- Due To Other Funds 11,629 FX630 80 TOTAL b_u_e To Other Funds 3 11,629 `' 80 Deferred Revenues �FX691 TOTAL DeferredRevenues° TOTAL Liabihties 5,588 - . Miscellaneous Reserve (specify) 13,435 FX889 13,546 _ TOTAL Special Reserves '� y _ 3,435 3,54 V fi Unreserved Fund Balance Appropriated -5,200 FX910 142,087 711 TOTAL Unreseryed, Fund Balance Appropriated a -5,200 142,087 _... .. _..,n ..,.. _v .z.. Unreserved Fund Balance Unappropriated 474,987 J FX911 v. 380,013 Page 28 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (FX) WATER Results of Operation Code Description c s , ` x;,2007 Ecl Code 2008 , Detail Revenues And Other Sources Special Assessments Ad Valorem 622,822 FX1028 704,863 TOTAL Real Property Takes,627822 70,863;` _.. - 44 Metered Water Sales Water Service Charges Interest & Penalties On Water Rents 1,765,221 FX2140 1,763,194 12,732 FX2144 14,055 16,026 FX2148 17,037 Other Home & Community Services Income FX2189 TOTAL Departmental Income 1,793979 4,794,286 1 _ .__,.._ .__ ., _ r... �..._.,. _ Service For Other Govts 432 FX2378 440 TOTAL Intergoveinmental Charges32 _t v., :___ ... ___ __0 Interest And Earnings 7,778 FX2401 3,733 TOTAL Use of Money And Property ;.._._. 7,778 Y _ W. N, 3,733 Insurance Recoveries FX2680 TOTAL Sale of Property,And Compensation For Loss 0 Refunds of Prior Year's Expenditures 15,153 FX2701 20,289 Unclassified (specify) FX2770 30,425 TOTAL Miscellaneous Local Sources " 15 153 50 71 TOTAL Revenues k; 2,440,164 2,554,038 Interfund Transfers 2,993 FX5031 TOTAL lntertund Transfers 0 __. TOTL Ot A her Sources _ . _. _ a. .: TOTAL Detail Revenues And Other Sources { 2,443,157 „ 4 , w. 2,554,036, Page 29 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (FX) WATER Results of Operation Code DescripUoh `" -2007 ` }EdgCode:' 5`2.00.8 Detail Expenditures And Other Uses Law, Contr Expend 3,911 FX14204 763 TOTAL Law , . :. 3,911 763 Central Print & Mail, Contr Expend 11272 FX16704 1,300 TOTAL Central Print 8� Mair; _ 1,272 1 300 Central Data Process & Cap Outlay _ 4,452 FX16802 ._ 1,264 Central Data Process, Contr Expend 14,483 FX16804 16,114 TOTAL Central17,378 Administration -Contractual 4,191 FX17104 5,054 TOTAL Admmistration Contractual _ Unallocated Insurance, Contr Expend 24,998 FX19104 29,020 TOTAL Unallocated Insurance 24,998 x }. 29,020, TOTAL General Government Support 53,307 r 53,515 Water Administration, Pers Sery 36,105 FX83101 36,943 Water Administration, Contr Expend FX83104 TOTAL Water AdmmistratlUO "^ _ J 36,105 _} . - 36,943 k y113,616 Water Trans & Distrib, Pers Sery 146,473 FX83401 Water Trans & Distrib, Equip & Cap Outlay 39,200 FX83402 19,689 Water Trans & Distrib, Contr Expend 193,975 FX83404 192,126 TOTAL Water TransDistrib _ 3791648 325,431 Common Water Supply, Contr Expend 1,151,371 FX83504 1,148,627 TOTAL Common Water Supply Other Water, Contr Expend FX83894 TOTAL Other Water TOTAL Home And Community Seances." 1,567,124 1 511,001 State Retirement, Empl Bnfts 16,541 FX90108 15,616 Social Security, Empl Bnfts 12,907 FX90308 11,276 Workers Compensation, Empl Bnfts 2,072 FX90408 5,590 Life Insurance, Empl Bnfts 378 FX90458 369 Unemployment Insurance, Empl Bnfts 212 FX90508 519 Disability Insurance, Empl Bnfts 1,090 FX90558 1,052 Hospital & Medical (dental) Ins, Empl Bnft 41,624 FX90608 43,156 TOTAL Employee Benefits 74,824- 77,5731 TOTAL Expenditures 1,695,255 1,642,0941 Transfers, Other Funds 684,466 FX99019 859,518 Transfers, Capital Projects Fund FX99509 TOTAL Operating Transfers 684,466 859,518] TOTAL Other Uses 684,466 859,518 TOTAL Detail Expenditures And Other Uses 2,379,721 2,501,612' Page 30 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 Page 31 OSC Municipality Code 500342300000 (FX) WATER Changes in Fund Equity � C,od,._ecn-on...��; l^ D,espla� �_ �' �.f4,�,.., .h ,� � ._ _,. t r �_ _ , , : �..,_. ,s�� .��_ ��4 :.:,s �..::2007':.�;,`�� „ Ed ,Cod �• :� .�� 008 s �>�. ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 419,786 FX8021 483,222 Restated Fund Equity - Beg of Year 419,786 FX8022 483,222 ADD - REVENUES AND OTHER SOURCES 2,443,157 2,554,036 DEDUCT - EXPENDITURES AND OTHER USES 2,379,721 2,501,612 Fund Equity - End of Year 483,222 FX8029 535,646 Page 31 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (FX) WATER Budget Summary P§90 Estimated Revenues And Other Sources Est Rev - Real Property Taxes 697,763 FX1 049N 689,739 Est Rev - Real Property Tax Items 6,000 FX1 099N 7,100 Est Rev - Departmental Income 1,772,000 FX1299N 1,717,677 Est Rev -Intergovernmental Charges 500 F.X2399N 500 Est Rev - Use of Money And Property 3,000 FX2499N 5,300 TOTAL, Estirnatedl. Revenues 2 479 263 242 Estimated - Proceeds of Obligations 1,500,000 FX5799N 2,250,000 Appropriated Fund Balance FX599N 142,087 TOT1%. Estimated Other C! Tn4:iv. 1: 6", A;•;i il li- Page 32 OSC Municipality Code 500342300000 TOWN OFIthaca Annual Update Document For the Fiscal Year Ending 20O8 (FX) WATER Budget Summary Appropriations And Other Uses App General Government Support 51,417 FX1ee9m 60,893 App -Home And Community Services 2,993,923 FX8999N 3,892,704 App ' Employee Benefits 9*,400 FX9199w 89,400 139 App 'InterfmdTransfer 839,523 FX9988N 708,400 839 TO TOTAL A r!apo s, hd Other. Use 40 Page 33 OSCMunicipality Code 5UO3423O0D0O TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (G) SEWER Balance Sheet Assets Cash In Time Deposits 943,008 G201 748,253 TOTAL Cash : ' 943,008 Sewer Rents Receivable 145,175 G360 131,12 4 TOTAL Other Recevables(net) 145;175 131,124 Due From Other Funds G391 80 TOTAL Due From Other Funds 0 Prepaid Expenses 8,806 G480 7,425 TOTAL Prepaid Expenses ' K° 8;806 _ .. .> Z., ._. _ 7,425 Cash Special Reserves 7,650 G230 7,716 TOTAL Restricted Assets 7,650 7,716 77777 Fk._...Y _ .s.�....1»s..... Mise Current Assets 1,217,000 G489 1,125,725 Page 34 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (G) SEWER Balance Sheet Liabilities And Fund Equity Accounts Payable G600 Page 35 OSC Municipality Code 500342300000 Accrued Liabilities 88,754 G601 2,553 TOTAL ',Ac-c':ru'od--L-ia:6ilii-i-'e'-'S"--- 8 rA, dj 55al . Retained Percentages, Cont Pay G605 r7� TOTAL RiW�in4P'e-'-'r-i6'n'-- ges Due To Other Funds 101,543 G630 n s-: 101,543 TOTAL A TOTAL Liabilities: 190- 97-,-,--�, 5 2 Miscellaneous Reserve (specify) 7,650 G889 7,716 TOTALSpecial ese 7,716 Unreserved Fund Balance Appropriated 560,752 G910 552,606 -'—:Unreserved'- u n , a Balance TOTAL Appropriated Unreserved Fund Balance Unappropriated 1,562,940 G911 1,457,448 Page 35 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (G) SEWER Results of Operation Detail Revenues And Other Sources Special Assessments 227,035 G1030 154,863 TOTAL Real Property Taxes227,035 - 154,863 Sewer Rents 1,288,469 G2120 1,293,645 Interest & Penalties On Sewer Accts 8,146 G2128 1,369 TOTAL De artmeome F _... 1,295014 ntal Inc p Misc Revenue, Other Govts 1,452 G2389 TOTAL Intergovernmental Charges •_ _-_._...._ �.._a w _._�_....._._r ... _ �..�__,_, k__...w �.v._..„._r._ _., ... r.. ..._v _..�_,.t.. a i_. .. / _ ._ter.. .. .,..,......, v ... �0 Interest And Earnings 76,379 G2401 72,721 TOTAL Use of Money And Propertyw Insurance Recoveries G2680 TOTAL Sale of Property And Compensation For Loss _ p _._..._�or Refunds of Prior Year's Expenditures 13,620 G2701 TOTAL Miscellancaf Sources ,_,�.. TOTAL Revenues .......__�_, �_.._,_ __.._....�,.-.__b ,.._�,a ....._._�.__ Interfund Transfers G5031 TOTAL Intertund Transfers' f _... ., , r 1'4" 0 0 TOTAL Otfier Sources TOTAL Detail Revenues And OtherSources; t F 1 615101 1 522 598 Page 36 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (G) SEWER Results of Operation Detail Expenditures And Other Uses Administration -Contractual 39,973 G17104 40,664 TOTAL Administratioontractual n -C 39;973 40 664 :_. TOTAL General Government Support 39 973 40,664 Sewer Administration, Pers Sery 20,464 G81101 21,621 Sewer Administration, Equip & Cap Outlay G81102 Sewer Administration, Contr Expend G81104 TOTAL Sewer Administration 20,464 21,(121= Sanitary Sewers, Pers Sery 53,067 G81201 54,410 Sanitary Sewers, Equip & Cap Outlay 40,851 G81202 19,689 Sanitary Sewers, Contr Expend 224,940 G81204 105,009 TOTAL Sanitary Sewers _.__ Joint Sewer Project, Contr Expend 814,001 G81504 1,010,443 TOTAL Joint Sewer Project_ ` _ ` 814,001 1,010,443 TOTAL Home And Comm_unrty Services 1,153,323 1,211,172 State Retirement, Empl Bnfts 9,346 G90108 8,806 Social Security , Empl Bnfts 5,429 -G90308 5,685 Worker's Compensation, Empl Bnfts 4,808 G90408 687 Life Insurance, Empl Bnfts 216 G90458 216 Unemployment Insurance, Empl Bnfts 53 G90508 130 Disability Insurance, Empl Bnfts 631 G90558 623 Hospital & Medical (dental) Ins, Empl Bnft 15,595 G90608 18,179 TOTAL Employee Benefits: .: . ` , - 36;078 34,326 TOTAL Expenditures 1,229,3.74 1,286,162 Transfers, Other Funds 100,000 G99019 350,008 Transfers, Capital Projects Fund 404,457 G99509 TOTAL Operating Transfers 504;457: 350,0081 TOTAL_Other Uses 504,457 350,008 TOTAL Detail Expenditures And Other Uses 1,733,831 1,636,170,1 Page 37 OSC Municipality Code 500342300000 TOWN OFIthaca Annual Update Document For the Fiscal Year Ending 20O8 (G)SEWER Changes in Fund Equity ANALYSIS DFCHANGES UVFUND EQUITY Fund Equity ' Beginning o,Year 2,250072 m8021 2,131.3*2 Restated Fund Equity ' Beg ofYear 2,2e0.072 Guouo 2,131.342 ADD ' REVENUES AND OTHER SOURCES 1.e15.101 1.522.598 DEDUCT ' EXPENDITURES AND OTHER USES 1.733.831 1.e36.170 Fund Equity ' End prYear 2.131.3*2 monoe 2.017.770 Page 38 OSC Municipality Code 500342300000 i • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (G) SEWER Budget Summary Code Description' T i` 2008 . _ EdpCode a `2009 =_ Estimated Revenues And Other Sources Est Rev - Real Property Taxes 147,763 G1049N 146,119 Est Rev - Real Property Tax Items 6,700 GI 099N 7,100 Est Rev - Departmental Income 1,427,000 G1299N 1,427,000 Est Rev -Intergovernmental Charges 1,000 G2399N 1,284 Est Rev - Use of Money And Property 54,000 G2499N 54,000 TOTAL Estimated Revenues =. _ : '1,636,463 1,635,503 Appropriated Fund Balance 560,752 G599N 552,606 TOTAL Estimated Other Sources ' 0,75.;_ 552,606 TOTAL EstimatedRevenues And' Other Sources 2 197,215 ^� ti _ 2,188,109 Page 39 OSC Municipality Code 500342300000 C-1, L] (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 2008 44,117 G1999N 1,756,320 G8999N 49,593 1,836,230 App - Employee Benefits 46,770 G9199N 42,520 T TO LAppropriations� ,192 App - Interfund Transfer 350,008 G9999N 259,766 TOTAL Other," ses 350 259,766 1- ------ - T9 ri6' tiofis4 And Other-Use!�z".-�-,',", 712115 18 C", Page 40 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Balance Sheet Page 41 OSC Municipality Code 500342300000 Assets Cash In Time Deposits 1,072,167 H2O1 205,891 TOTAL Cash ;. 1,072;167 205,891 _ r• u State & Federal Receivables H410 TOTAL" State And; Federal Aid Receivables 0 0` Due From Other Funds 100,000 H391 TOTAL Due From Other Funds 100,000 0 TOTAL Assets 1,172,167 205,891 Page 41 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Balance Sheet Liabilities And Fund Equity Accounts Payable H600 TOTAL Accounts Payable Accrued Liabilities 560,718 H601 421,096 TOTAL Accrued Liabiht�es 421,098 ,. Retained Percentages, Cont Pay 60,610 H605 TOTAL Retained Percentages _ 80,81001 . Bond Anticipation Notes Payable 1,217,000 H626 1,125,725 TOTAL Notes Payable 1,217,000 1,125,725 -y. -.. _ t Due To Other Funds _ 68,824 H630 ^ TOTAL Due To Other Funds y ; x- 68,824`c g TOTAL Liabilities r 1 907,152 1,546,821 _ . Capital Reserve H878 r TOTALSpecial Reserves 0� �. Unreserved Fund Balance Unappropriated -734,985 H911 M -1,340,930 TOTAL Unreserved.Fund Balance - Unappropriated 734,985 1,340,93( A TOTAL Furi'd Egwty 734 985 1340,93 - w _ TOTAL Liabilities And Fund Egwty N v 1,172,167 r , z > r 205,891, _ _.. Page 42 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Results of Operation ,Code Description a � � b„£; 'c �� - f� � � $ -,,'�z ` ; -�r # 4�.�t��j�- � 2007`_x`, t Ecl Cotle,�• 2008 ��= Detail Revenues And Other Sources Interest And Earnings 22,529 H2401 7,400 TOTAL Use of Money And Property 221529 St Aid, Trans Cap Grants (spec) 35,042 H3597 6,001 TOTAL State Aid 35 042 6 0011 1'._..__r' .. .. to+..._. .�._�. a�..,.d,...'..1. ,, a. ... ....... ....... ..,... .•._..._.., ...... .F_ ..+ fy .. ... ... __.. .L, xz �.. TOTAL Revenues q 57,571 13,401 Interfund Transfers 184,000 H5031 TOTAL Intle, Fund'Transfers a 84,0 18 _ . 00._ Serial Bonds H5710 Bans Redeemed From Appropriations H5731 91,276 TOTAL Proceeds of Obligations91,276. TOTAL Other Sources 184 000 d ' 91 27¢ TOTAL Detail Revenues Arid Other Sources 3 241,571 -, ^ 104,677 Page 43 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Results of Operation Detail Expenditures And Other Uses Parks, Equip & Cap Outlay 117,757 H71102 6,604 TOTAL Parks117,Z57 6,604 � f ti TOTAL Culture And Recreaon x 117,757 6,604 v, _ Sewer, Equip & Cap Outlay 497,706 H81972 704,018 TOTAL Water Trans & Distrib, Equip & Cap Outlay 844,747 H83402 k TOTAL Water Trans8 Distrib '2'-A Water Capital Projects, Equip & Cap Outlay H83972 TOTAL Water Capital Projects 0 = 0 Misc Home & Comm Serv, Equip & Cap Outlay H89892 TOTAL Misc Home 8� Comm Sery 0 0' Transfers, Other Funds 2,993 H99019 TOTAL Operating Transfers ' 2,993 0' �.. w .....F s �.. TOTAL Other Uses 3 2993„ 0 TOTAL Detail Expenditures And Other Uses q}R tXF w ` '+xL n 1+TWF 1,463,203r -W M 6 710622 Page 44 OSC Municipality Code 500342300000 17, TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Changes in Fund Equity Page 45 OSC Municipality Code 500342300000 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 486,647 H8021 -734,985 Restated Fund Equity - Beg of Year 486,647 H8022 -734,985 ADD - REVENUES AND OTHER SOURCES 241,571 104,677 DEDUCT - EXPENDITURES AND OTHER USES 1,463,203 710,622 Fund Equity - End of Year -734,985 H8029 -1,340,930 Page 45 OSC Municipality Code 500342300000 TOWN OF ITHACA CAPITAL PROJECT FUND DETAILED BALANCE SHEET DECEMBER 31, 2008 ACCOUNT DESCRIPTION ACTIVE PROJECTS TOTAL First Street Gateway Trumansburg Rd Hanshaw Rd Interceptors Trail Water Water Main Main ASSETS CASH CASH IN SAVINGS $ 55,670 $ 84,969 $ 42,473 $ 22,779 $ 205,891 TOTAL CASH $ 55,670 $ 84,969 $ 42,473 $ 22,779 $ 205,891 OTHER RECEIVABLES DUE FROM OTHER FUNDS - - - - - STATE & FEDERAL RECEIVABLE - - - - - TOTAL RECEIVABLES - - - - - TOTAL ASSETS $ 55,670 $ 84,969 $ 42,473 $ 22,779 $ 205,891 LIABILITIES & FUND BALANCE LIABILITIES ACCOUNTS PAYABLE - - - - - ACCRUED LIABILITIES 421,096 - - - 421,096 RETAINAGE - - - - - BAN PAYABLE - - 641,663 484,062 1,125,725 DUE TO OTHER FUNDS - - - - - TOTAL LIABILITIES 421,096 - 641,663 484,062 1,546,821 FUND BALANCE RESERVE FOR ENCUMBRANCE; - - - - UNAPPROPRIATED- FUND BALA? (365,426) 84,969 (593,865) (466,608) (1,340,929) TOTAL FUND BALANCE $ (365,426) $ 84,969 $ (593,865) $ (466,608) (1,340,929) TOTAL LIABILITIES & FUND EQU $ 55,670 $ 84,969 $ 47,798 $ 17,454 $ 205,891 0 Page 45a • • TOWN OF ITHACA CAPITAL PROJECT FUND DETAILED REVENUE and EXPENDITURES DECEMBER 31, 2008 REVENUE INTEREST EARNINGS $ 3,181 $ 772 $ 1,598 $ 1,405 $ 6,957 REFUND OF PRIOR YEARS - - INTERFUND TRANSFERS - CONTRACT RECOVERY - STATE & FEDERAL GRANT - BOND PROCEEDS TOTAL CAPITAL RESOURCES $ 3,181 $ 772 $ 1,598 $ 1,405 $ 6,957 EXPENDITURES ROAD CONSTRUCTION ACTIVE PROJECTS First Street Gateway Trumansburg Rd Hanshaw Rd RESOURCES and EXPENDITURES Interceptors Trail Water Water TOTAL Main Main REVENUE INTEREST EARNINGS $ 3,181 $ 772 $ 1,598 $ 1,405 $ 6,957 REFUND OF PRIOR YEARS - - INTERFUND TRANSFERS - CONTRACT RECOVERY - STATE & FEDERAL GRANT - BOND PROCEEDS TOTAL CAPITAL RESOURCES $ 3,181 $ 772 $ 1,598 $ 1,405 $ 6,957 EXPENDITURES ROAD CONSTRUCTION INTERFUND TRANSFERS LANDSCAPING UTILITIES PARKING LOT PAVING LAND & RIGHT -A -WAY SEWER CONSTRUCTION CONTRACT 421,591 - - - 421,591 GENERAL CONSTRUCTION CONTRACT - PLUMBING CONTRACT HVAC CONTRACT ELECTRICAL CONTRACT PARK & DEVELOPMENT COSTS - - _ _ - ENGINEERING DESIGN - - 10,000 1,000 11,000 CONTRACT ADMINISTRATION - - 4,000 2,000 6,000 NETWORK DESIGN & INSTALLATION - - - - - BIDDING PROCESS - - 2,500 2,500 5;000 WATER CONSTRUCTION CONTRACT - - 98,192 139,785 237,977 TESTING _ _ _ SURVEY - - 1,000 1,000 2,000 INSPECTION - - 16,964 - 16,964 LEGAL SERVICES - - 1,921 1,566 3,487 FURNITURE & FIXTURES - - - - . CONTRACT DOCUMENTS ARCHITECTURAL FEES DIRECT TOWN WORK FORCE - - - - - TOTAL CAPITAL EXPENDITURES $ 421,591 $ - $ 134,576 $ 147,851 $ 704,018 Page 45b TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (K) GENERAL FIXED ASSETS Balance Sheet Assets Land 186,552 K101 186,552 Buildings 3,959,826 K102 3,959,826 Improvements Other Than Buildings 354,704 K103 355,645 Machinery & Equipment 3,208,899 K104 3,352,815 Construction Work In Progress 1,000,312 K105 1,485,753 Infrastructure 6,402,992 K106 6,339,149 TOTAL Fixed Assets (net) t a # ` 15,113,,285 a 15,679,740 TOTAL Assets = 15,113,285 Page 46 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (K) GENERAL FIXED ASSETS Balance Sheet Cotle Description _ =" F-7, 20072008. Liabilities And Fund Equity Total Non -Current Govt Assets 15,113,285 K159 15,679,740 15 7�� ments in Non -Current Government Assets, 4 T0fAbn_Ve_'st 69i, - 15,1113,2W TOTAL Equity F 15,113,285 15,679,740 TOTAL Liabilities And Fund EqIuity-,,, 15,113,286. 15,679,740 Page 47 OSC Municipality Code 500342300000 TOWN OF ITHACA FIXED ASSETS WORKSHEET December 31, 2008 DESCRIPTION ACCT CODE BALANCE 1/1/2008 2008 ACTIVITY ASSET BALANCES 12/31/2008 ADDITIONS DELETIONS 1 LAND EASEMENTS BUILDING -TOWN HALL BUILDING -PUBLIC WORKS FACILITY IMPROVEMENTS OTHER THAN BLDG EQUIP/MCHY CONSTRUCTION IN PROGRESS: PEW TRAIL HANSHAW ROAD WATER MAIN IMP TRUMANSBURG RD WATER MAIN IMP FIRST STREET INTERCEPTORS FURNITURE & FURNISHINGS COMPUTER & NETWORK HIGHWAY - MAPLE AVENUE HIGHWAY - MECKLENBURG ROAD HIGHWAY - WARREN ROAD HIGHWAY - WYCOFF ROAD SAPSUCKER WOODS HANSHAW RD SEWER REHAB W HILL IMP OAKWOOD LANE TANK IACOVELLI NEIGHBORHOOD PARK PEW TRAIL TUTELO PARK HIGHWAY - STONE QUARRY ROAD GAME FARM ROAD BURNS ROAD WATER LINE BIGGS WATER MAIN REPLACEMENT 2003 WEST HILL WATER TANK IMP BOSTWICK RD WATER TANK & TRANS COY GLEM PUMP STATION & PIPELINE SOUTH HILL WATER TANK - PHASE II FOREST HOME PUMP STATION TRUMANSBURG ROAD SEWER IMP FIRST STREET INTERCEPTORS TRUMANSBURG WATER TANK RENOVA WARREN ROAD WATER MAIN WYCOFF ROAD WATER MAIN TOTAL FIXED ASSETS GIFTS INFRASTRUCTURES: DEVELOPMENT RIGHTS PARKS and TRIALS BUILDINGS WATER SYSTEMS SEWER SYSTEMS ROADS and BRIDGES K101 186,551.66 - - 186,551.66 K130 71,000.00 - - 71,000.00 K131 1,951,342.22 - - 1,951,342.22 K132 2,008,483.42 - - 2,008,483.42 K103 354,703.88 941.36 - 355,645.24 K104 3,208,898.87 15,814.49 51,151.00 3,352,814.55 941.44 14,859.70 7,664.00 24,390.00 43,922.85 45,983.00 118,133.70 - 19,688.95 19,688.95 54,445.00 K107 218,577.16 - 218,577.16 - K108 302,455.39 147,851.37 - 450,306.76 K109 479,279.25 134,576.00 - 613,855.25 K105 - 421,590.72 - 421,590.72 K106 - - - - K141 - - - - K110 184,907.15 600.00 - 185,635.84 128.69 K116 96,047.37 - - 96,047.37 K120 293,073.33 - - 293,073.33 K121 3,553.16 - - 3,553.16 K122 - - - - K123 - - - - K124 80,000.00 - - 80,000.00 K125 237,106.80 - - 237,106.80 K126 315,057.96 - - 315,057.96 K201 35,611.48 - - 35,611.48 K203 - 218,577.16 - 218,577.16 K123 263,844.17 - - 263,844.17 K301 88,668.51 - - 88,668.51 K302 280,156.00 - 280,156.00 - K401 80,695.48 - - 80,695.48 K402 128,629.38 - - 128,629.38 K403 834,858.52 - - 834,858.52 K404 1,231,804.15 - - 1,231,804.15 K405 401,878.76 - - 401,878.76 K406 493,234.46 - - 493,234.46 K407 13,376.00 - - 13,376.00 K470 629,897.32 - - 629,897.32 K471 97,908.06 - - 97,908.06 K472 169,926.60 - - 169,926.60 K473 260,012.48 - - 260,012.48 K474 108,753.09 - - 108,753.09 1,5,11,02920'8 12®456468 635x11(68:61}567973,99;®' K153 3,000.00 - - 3,000.00 K161 71,000.00 - - 71,000.00 K162 453,459.88 - 941.36 454,401.24 K163 3,971,663.95 - K164 5,095,824.08 - K165 964,912.18 - K166 661,897.84 280,156.00 HWY EQUIPMENT and MACHINERY K167 3,785,394.78 51,151.00 85,232.70 INFORMATION TECHNOLOGY K168 103,139.37 - TOTAL INVESTED APPROPRIATIONS f h1,5 Eli 0'29208`41;653970, Page 47a 941.44 3,973,334.08 600.00 128.69 134,576.00 5,378,251.45 147,851.37 421,590.72 1,386,502.90 15,814.49 606,654.78 7,664.00 43, 922.85 118,133.70 19,688.95 19,688.95 54,445.00 3,703,456.08 - 103,139.37 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Balance Sheet Assets Cash In Time Deposits 581,643 SF201 604,522 TOTAL Cash t 581,643 604,522 _. TOTAL Assets 4 581,643 604,522 Page 48 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Balance Sheet Code q§cno RIK Liabilities And Fund Equity Accrued Liabilities 280,181 SF601 450,003 Mfi � LAqdfu04 Liabilities," 280,181' 451 -6 S TOTAL Liabilities 280,181450.00 Unreserved Fund Balance Appropriated 181,875 SF910 served lia —p TOTAL. hreuna e.A i a 7 ,.,..L .-; pria Unreserved Fund Balance Unappropriated 119,587 SF911 154,520 TOTAL U nreserve und Balaihce,,;,Unapktppr!Atlbd,,"; 154,520 T0'fALFufi&E --30 462',1 154,520 TOTAL Anf581,643 .Liabilities .--. Page 49 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Results of Operation Page 50 OSC Municipality Code 500342300000 Detail Revenues And Other Sources Real Property Taxes 2,814,993 SF1001 3,008,606 TOTAL Real Property Taxes 2,814,993 3,008,606 Other Payments In Lieu of Taxes 9,500 SF1081 9,580 TOTAL Real Property Tax Items: ` 9,500 9,580 Other Public Safety Departmental Income 21,163 SF1589 18,258 TOTAL Departmental Income _ .._ .. __.. = :21,163 18,258 Interest And Earnings 82,827 SF2401 48,101 TOTAL Use of Money And Property 82,827 Refunds of Prior Year's Expenditures SF2701 TOTAL Miscellaneous Local Sources 0 0 TOTAL Revenues 2 928,483 3,084,545 TOTAL Detail Revenues And Other Sources 2,928,483 n `3 984,545 Page 50 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Results of Operation Detail Expenditures And Other Uses Fire Protection, Contr Expend 2,908,759 SF34104 3,231,487 TOTAL Pir"e Pirotectio'n' 2,908,759! 3,2311,4871 TO TAL Public Safety 2,908,759r--. 3,231,487 TOTAL Expenditures- 3,23 2,908,759 ;11 48il TqTAI,. deitiiii k4eh-di'tuire'si, kid cif6i"Osie'-s 2j908 759 W 3,231,487 Page 51 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Oooumerd For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Changes in Fund Equity escrippri-, v. ANALYSIS OFCHANGES |NFUND EQUITY ^ Fund Equity ' Beginning vfYear 281.738 Sr8021 301,462 Restateupunusouuy-0000fToo, 281.738 SP0000 301,462 ADD ' REVENUES AND OTHER SOURCES 2.928.483 3.084.545 DsouoT EXPENDITURES AND OTHER USES 2.908.75e 3.231.487 Fund Equity ' End o,Year 301.462 aruooe 154.520 Page 52 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SL) LIGHTING Balance Sheet Code Desenption-3, Assets Cash In Time Deposits 13,989 SL201 13,411 TOTAL L Cash 13,989, 13,411• , TOTAL Assets 3,41 Page 53 OSC Municipality Code 500342300000 0 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SL) LIGHTING Balance Sheet Liabilities And Fund Equity Accounts Payable SL600 TOTAL Accounts Payable ; 0 = TOTAL Liabilities. p 0 Unreserved Fund Balance Appropriated SL910 TOTAL Unreserved Fund Balance - Appropriated 0 Qj Unreserved Fund Balance Unappropriated 13,989 SL911 13,411 TOTAL Unreserved Fund Balance - Unappropriated 13,989 r 13 411 TOTAL Fund Equity _ 1$,989 13,41.1 TOTAL Liabilities And Fund Equity - 13 989 Y _ 13411. Page 54 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SL) LIGHTING Results of Operation Code Desoripi�on,, :. ;4-JL '2007 EdpCode 2p08 Detail Revenues And Other Sources Real Property Taxes 5,325 SL1001 12,132 TOTAL Real PropertyTaxes _ 5,325. 12,132 Interest And Earnings 215 SL2401 138 TOTAL Me of Money And Property215, 138 _ .,- . TOTAL Revenues. , v _ 5,540. 92,27 TOTAUDetail Revenues -And Other Sources 5,540 12,270 Page 55 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SL) LIGHTING Results of Operation Code Desccipflon y Detail Expenditures And Other Uses Street Lighting, Contr Expend 11,293 SL51824 12,848 TOTAL Street- Lighting 11,293 12,848' TOTAL Transportation 11,293' 12,848 TOTAL Expenditures 11,293 12,848. TOTAL DetaifExpenditures And Other Uses 11,293 12,848,1 Page 56 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (SL) LIGHTING Changes in Fund Equity Code Description` �' 2007_ ` EdpCode;' _'2008 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 19,742 SL8021 13,989 19,742 SL8022 13,989 5,540 12,270 11,293 12,848 13,989 SL8029 13,411 Page 57 OSC Municipality Code 500342300000 TOWN OF ITHACA LIGHTING DISTRICT FUNDS DETAILED BALANCE SHEET DECEMBER 31, 2008 ACCOUNT DESCRIPTION ACCOUNT ACTIVE LIGHTING DISTRICTS TOTAL Forest Home Glens! -de enwic Heights as woo Commons over Lane Winners Circle Burleigh Drive WestHaven Road I Coddington Road AbbhIb CASH' CASH IN SAVINGS 202 $ 2,689 $ 1,376 $ 1,911 $ 2,651 $ 367 $ 883 $ 553 $ 2,023 $ 958 $ 13,411 TOTAL CASH $ 2,689 $ 1,376 $ 1,911 $ 2,651 $ 367 $ 883 $ 553 $ 2,023 $ 958 $ 13,411 OTHER RECEIVABLES _ STATE & FEDERAL RECEIVABLE 410 - - - - - - _ TOTAL RECEIVABLES - - - - - - - - - - TOTAL ASSETS $ 2,689 $ 1,376 $ 1,911 $ 2,651 $ 367 $ 883 $ 553 $ 2,023 $ 958 $ 13,411 LIABILITIES & FUND BALANCE LIABILITIES ACCOUNTS PAYABLE 600 - - - - - - - - _ - ACCRUED LIABILITIES 601 - - TOTAL LIABILITIES - - FUND BALANCE RESERVE FOR ENCUMBRANCES 821 - - - - - - - - _ _ UNAPPROPRIATED FUND BALANCE 909 2,689 1,376 1,911 2,651 367 883 553 2,023 958 13,411 TOTAL FUND BALANCE $ 2,689 $ 1,376 $ 1,911 $ 2,651 $ 367 $ 883 $ 553 $ 2,023 $ 958 13,411 TOTAL LIABILITIES & FUND EQUITY $ 2,689 $ .1,376 $ 1,911 $ 2,651 $ 367 $ 883 $ 553 $ 2,023. $ 958 $ 13,411 Page 57a TOWN OF ITHACA LIGHTING DISTRICT FUNDS DETAILED REVENUE and EXPENDITURES DECEMBER 31, 2008 RESOURCES and EXPENDITURES ACTIVE LIGHTING DISTRICTS TOTAL Forest Glenside Renwick Eastwood Clover Winner's Burleigh West Haven Coddington Home Heights Commons Lane Circle Drive Road Road REVENUE REAL PROPERTY TAXES INTEREST EARNINGS TOTAL RESOURCES EXPENDITURES ADVANTAGE ENERGY, INC. TOTAL EXPENDITURES $ 1,877 $ 728 $ 1,018 $ 2,151 $ 255 $ 762 $ 873 $ 2,808 $ 1,660 $ 12,132 26 13 18 26 3 9 7 24 12 138 $ 1,903 $ 741 $ 1,036 $ 2,177 $ 258 $ 771 $ 880 $ 2,832 $ 1,672 $ 12,270 $ 2,027 $ 790 $ 1,100 $ 2,228 $ 269 $ 768 $ 914 $ 2,985 $ 1,767 $ 12,848 $ 2,027 $ 790 $ 1,100 $ 2,228 $ 269 $ 768 $ 914 $ 2,985 $ 1,767 $ 12,848 Page 57b TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (TA) AGENCY Balance Sheet ,.,20 [,7E 7 f -2008 Code Description cq� Assets Cash 134,658 TA200 58,489 TOTAL Cash.-, 658 58,4894 TOTAL Assets,- 134,658" 5814894 Page 58 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (TA)AGENCY Balance Sheet Ol§` . ,C600� Liabilities And Fund Equity Consolidated Payroll 13 TA1 0 13 Disability Insurance 631 TA1 9 666 Group Insurance 655 TA20 11,793 Guaranty & Bid Deposits TA30 1,526 Other Funds (specify) 133,359 TA85 .44,491 TOTAL Agency Lia 134,656 58;489 % TOTAL Liabilities ' 134,658 58A8 TOTAL ities-And un -- Equity ----- 8 4iil - Page 59 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Balance Sheet 2007"; .iEdpCode? 7,J "2008 - Assets Cash In Time Deposits 50,226 V201 54,112 TOTAL Cash 50,226 64,11 TOTAL Assets- - 50,226 54,112 Page 60 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Balance Sheet OodevDescnptton Liabilities And Fund Equity Unreserved Fund Balance Unappropriated 50,226 V911 54,112 TOTAL Unreserved Funtl Balance Unappropriated50,226 54,11 TOTAL Fund Equity 50,226 54,112 J TOTAL Liabiht�es Aro Furid Equity , 50 226 m 54112 Page 61 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Results of Operation Detail Revenues And Other Sources Interest And Earnings 13,965 V2401 3,470 TOTAL Use of Money And P-r'o'13 e rty'.,, 13,965 3.470 TOTAL kev-'ehu'es., 13;965 3;470 Interfund Transfers 976,945 V5031 1,093,762 rs." lnie46na T&XIL" Serial Bonds V5710 TOTAL ioceWd'r'04'66ii�-` '0, A T Other 45 Op��762 '" -77 7V z T,� TOTAL Detail And Other Source�i990,910 1,097,23 M Page 62 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Results of Operation Code Descnpfionr`: t;: ` y „ : Z 2007 EdpCode s= 2D08; Detail Expenditures And Other Uses Fiscal Agents Fees, Contr Expend 1,778 V13804 1,484 TOTAL.Fiscal Agents Fees 1,778 1,484; TOTAL General Government Support = 1,778 1,484' Debt Principal, Serial Bonds 707,000 V97106 717,000 Debt Principal, Bond Anticipation Notes V97306 91,276 TOTAL Debt k6d6ai 707,000 808,276` Debt Interest, Serial Bonds 262,445 V97107 283,586 TOTAL Debt Interest 262,44528$,586 TOTAL Expenditures 971,223 1,093,348 ___ _ _ _ .._ . _ ,..... a TOTAL Detail Expenditures And'Other UsesT 971,223 1,093;346 Page 63 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Changes in Fund Equity Code Descnptton, _ t 2007k, 'E'dpCodeti _2008 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 30,539 V8021 50,226 Restated Fund Equity - Beg of Year 30,539 V8022 50,226 ADD - REVENUES AND OTHER SOURCES 990,910 1,097,232 DEDUCT - EXPENDITURES AND OTHER USES 971,223 1,093,346 Fund Equity - End of Year 50,226 V8029 54,112 Page 64 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (W) GENERAL LONG-TERM DEBT Balance Sheet Assets Total Non -Current Govt Liabilities 5,049,890 W129 4,341,050 TOTAL Provision To Be Made In Future�Budgets_ - 5;049;890 4,341.050-A TOTAL Assets 5,049,890 4,341,0501 Page 65 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2008 (W) GENERAL LONG-TERM DEBT Balance Sheet Liabilities And Fund Equity Bond Anticipation Notes Payable W626 TOTAL Notes Payable 01 Compensated Absences 126,890 W687 135,050 TOTAL Other Liabilities- 126,990 135,05 _.. Bonds Payable 4,923,000 W628 4,206,000 TOTAL Bond And Long Term Liabilities 4,923,0010 TOTAL Liabilities. 5,049,890 1"05- TOTAL DibilitilegrAnd F6hd '3411 ,05 Page 66 OSC Municipality Code 500342300000 • TOWN OF Ithaca Financial Comments For the Fiscal Year Ending 2008 Page 67 40 9 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2008 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2007000001EDPC DEODEO Amount `_Month and Year of Issue— J 10/3/2007 Purpose of Issue WATER MAIN IMPS Current Interest Rate 4.5000 Outstanding Beginning of Year 2P18iL 1,217,000 Prior Year Adjustment �0 Issued During the Fiscal Year (do not include renewals here) !i2P1 86631 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 91,27 Outstanding End of the Fiscal Year2P1 68 67 1,125,725 Final Maturity Date; 10/3/2008 u Bond Anticipation Note No. 2008000002 'EDPCODE 1 Amoun Month and Year of Issue 10/3/2008 Purpose of Issue iter Main Improvemen Current Interest Rate Outstanding Beginning of Year 2P186661 4.5000 0 Prior Year Adjustment 0 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 .Paid During the Fiscal Year (do not include renewals here) ;2P18665 Outstanding End of the Fiscal Year 2P18667 !' 01 Final Maturity Date 10/3/2009 Total Bond Anticipation Note Amount! Outstanding Beginning of Year 1,217,000 Prior Year Adjustment ij 0 Issued During Fiscal Year 0 PaidDuring Fiscal Year 91,2751 Outstanding End of Year ***_Bond Anticipation Notes Redeemed 1,125,72 From Bond Proceeds During Fiscal Year 2P18885 !j , Page 68 OSC Municipality Code 500342300000 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2008 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2004000001 'EDPCODE Amount) _ Month and Year of Issue 2/12/200 Purpose of Issue provement (Serial) Bd 'Current Interest Rate j 3.8800 Outstanding Beginning of Year 2P18671 802,000 'Prior Year Adjustment 0 Issued During the Fiscal Year (do not include renewals here) 12P1 86730 Paid During the Fiscal Year (do not include renewals here) °2P18675 j �— 66,0001 ,Outstanding End of the Fiscal Year 677 --6,b 736,000 Final Maturity Date 2/12/2019; ry� Bond No. 2005000002EDPC EODEOD Amoun Month and Year of Issue _Purpose of Issue 'g 9/28/2005 fill Water Tank & Maim _Current Interest Rate_ Outstanding Beginning of Year 0118 3.600 440,000 Prior Year Adjustment 01 Issued During the Fiscal Year (do not include renewals here) i;. 2PI86 731 0 Paid During the Fiscal Year I,I (do not include renewals here) 2P18675 40,000; Outstanding End of the Fiscal Year 2P1 6 400,000 Final Maturity Date j 9/28/2015 ,Bond No. 2004000002 ,EDPCODEi Amount Month and Year of Issue 5/15/200 Purpose of Issue _ provement (Serial) Bd! Current Interest Rate 4.34601 Outstanding Beginning of Year Prior Year Adjustment 2P18671j 1,700,000 d 01 Issued During the Fiscal Year (do not include renewals here) 2P18673 J 0! _ Paid During the Fiscal Year (do not include renewals here) 2P18675 100,000 Outstanding End of the Fiscal Year 2P1�i 1,600,000 Final Maturity Date i 5/15/2024 Page 69 OSC Municipality Code 500342300000 0 i TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2008 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2000000003 ;EDP OC DE Amount ,Month and Year of Issue 9/1/1989 Purpose of Issue ��— Public Improvement Current Interest Rate .0730 Outstanding Beginning of Year 2P18671 150,000 Year Adjustment j 0 _Prior Issued During the Fiscal Year 1 (do not include renewals here) 2P1 678 3 0 ,PaDuring the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year 12P18677 2P18675 j 150,000 0 ;Final Maturity Date I 3/1/200 Bond No. 2003000001 EDPCODE Amount Month and Year of Issue Purpose of Issue _ j 12'29/2003 klic Imp (Serial) Bond Current Interest Rate 3.9500 Outstanding Beginning of Year 2P1— 8671 I 711,00.0 Prior Year Adjustment 0 Issued During the Fiscal Year I�(do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) .2P18675 71,000 _ Dutstanding End of the Fiscal Year "2P18677 640,000 'Final Maturity Date j 12/29/2017 Bond No. 2000000004 EDC OD Month and Year of Issue Amountl 7/15/1991 Purpose of Issue j j Public Improvement Current Interest Rate 066251 Outstanding Beginning of Year 2P18671 �i 1,000,00.0 Prior Year Adjustment 01 Issued During the Fiscal Year �1 (do not include renewals here) 2P18673 Ol Paid During the Fiscal Year (do not include renewals here) 2P18675 250,000 Outstanding End of the Fiscal Year 2P18677 750,000 Final Maturity Date 7/15/2011! _� Total Bond Amountl Outstanding Beginning of Year 4,803,0001 Prior Year Adjustment 01 Issued During Fiscal Year 0 Paid During Fiscal Year i j 677,0001 Outstanding End of Year j 4,126,000 01 Page 70 OSC Municipality Code 500342300000 0 0 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2008000001 EDPCODE Amoun Month and Year of Issue 0 Purpose of Issue J 'Current Interest Rate Outstanding Beginning of Year 2P18761 ;Prior Year Adjustment ! 01 'Issued During the Fiscal Year 9 j (do not include renewals here) 2P18763 *** Bond Anticipation Notes Redeemed ,Paid During the Fiscal Year i. I IF (do not include renewals here) 2P1 6 � 01 Outstanding End of the Fiscal Year P18767 Final Maturity Date I 7 Total Bond Anticipation Note Amoun Outstanding Beginning of Year 0 Prior Year Adjustment 0 'Issued During Fiscal Year Paid During Fiscal Year ! 01 ;_Outstanding End of Year ! 0 *** Bond Anticipation Notes Redeemed i! From Bond Proceeds During Fiscal Year 2P1 5 01 Page 71 OSC Municipality Code 500342300000 TOWN OF Ithaca Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2006000002-EDPCODEI Amount Month and Year of Issue 6,140,000 1/7/2006 ,Purpose of Issue 'Public Works Facility ,Current Interest Rate 808,2751 3.7500 'Outstanding Beginning of Year 2P18771 120,000 Prior Year Adjustment pi _ Issued During the Fiscal Year 1 (do not include renewals here) 2P18773 ! 01 Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year 2P18775 d2P18777 11 40,000 80,000 Final Maturity Date 1/7/2011 Total Bond : Outstanding Beginning of Year Prior Year Adjustment Aunt) mo 120,000 ! 0 Issued During Fiscal Year 0 Paid During Fiscal Year ! 40,000 ,Outstanding End of Year 80,000 Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond Amount Outstanding Beginning of Year^;i 6,140,000 Prior Year Adjustment 0 Issued During Fiscal Year l'I 'i 01 Paid During Fiscal Year 808,2751 Outstanding End of Year I 5,331,7251 Page 72 OSC Municipality Code 500342300000 TOWN OF Ithaca Schedule of Time Deposits and Investments For the Fiscal Year Ending 2008 CASH: On Hand Demand Deposits Time Deposits Total COLLATERAL: - FDIC Insurance Collateralized with securities held in possession of municipality or its agent Total INVESTMENTS: - Securities (450) Book Value (cost) Market Value at Balance Sheet Date Collateralized with securities held in possession of municipality or its agent - Repurchase Agreements (451) Book Value (cost) Market Value at Balance Sheet Date Collateralized with securities held in possession of municipality or its agent EDP Code Amount 9Z2001 $5,762,333.00 9Z2011 $0.00 9Z2021 $0.00 $5,762,333.00 9Z2014 $250,000.00 9Z2014A $8,052,930.00 $8,302,930.00 9Z4501 $0.00 9Z4502 $0.00 9Z4504A $0.00 9Z4511 $0.00 9Z4512 $0.00 9Z4514A $0.00 Page 73 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Local Government Questionnaire For the Fiscal Year Ending 2008 Response 1) Does your municipality have a written procurement policy? Yes 2) Have the financial statements for your municipality been independently audited? Yes If not, are you planning on having an audit conducted? 3) Does your local government participate in an insurance pool with other local No governments? 4) Does your local government participate in an investment pool with other local No governments? 5) Does your municipality have a Length of Service Award Program (LOSAP) No for volunteer firefighters? 6) Does your municipality have a Capital Plan? Yes 7) Has your municipality prepared and documented a risk assessment plan? No 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 No year? g) Has your Local Government adopted an investment policy as required by Yes General Municipal Law, Section 39? Page 74 TOWN OF Ithaca Employee and Retiree Benefits For the Fiscal Year Ending 2008 Total Full Time Employees: r Total Part Time Employees: 551 3;i Account Code Description Total Expenditures (All Funds) # of Full Time Employees # of Part Time Employees # of Retirees i 9010 I State Retirement System 1 $234,489.00 551 3 9015 Police and Fire Retirement $0.0 _ i 90258 I Local Pension Fund $0.0 90308 Social Security 1 $221,981.00 57 8 90408 Worker's Compensation Insurance $62,172.00 8 90458 Life Insurance $5,525.00 51 9050 Unemployment Insurance $5,188.0 j i 90558 Disability Insurance i $16,514.00 51 1 90608 Hospital and Medical (Dental) Insurance I $836,741.0 52 1 90708 Union Welfare Benefits $0.0 I 9085 Supplemental Benefit Payment tol Disabled Fire Fighters $0.0 1 9189 Other Employee Benefits $0.0 i Total ! $1,382,610.001 i Computed Total From Financial Section (comparative purposes only) j $1,382,610.061 Page 75 OSC Municipality 500342300000 0 TOWN OF Ithaca Energy Costs and Consumption For the Fiscal Year Ending 2008 Energy Type Total Total Volume Units Of Alternative Expenditures Measure Units Of Measure Gasoline $16,936 49,66 gallons 0 Diesel Fuel$85,8631 24,8751 gallons 0 Fuel Oil �� $; gallons j0 Natural. Gas $1 cubic feet 0 Electricity $192,016kilowatts i0 Coal $1 tons 0 Page 76 OSC Municipality 500342300000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Herb Engman , 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 12/31/2009 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 12/31/2009 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 03/05/2009 Date of Certification 11 Town Budget Officer Name Town Budget Officer Title 215 N. Tioga Street Official Address (607) 273-1721 Official Telephone Number Page 77 Municipality Code 500342300000 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 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, 2008 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, 1,992. 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, fund 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 fund 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 accounted for in other funds and which finance the basic governmental functions provided by the Town at Large. PAGE 2 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 General Part -Town Fund 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: General Part -Town Hi2hway Fund Outside: This Fund accounts for revenues and expenditures for part -town (outside of the Village of Cayuga Heights) highway purposes. Water Fund: This is a fund 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. Lighting 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 full on scheduled due dates. Capital Proiects 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 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 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.) The Trust and Agency Fund is used to account for those funds 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 "funds". 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 Lone -Term Debt Account Group: This group of accounts is established to account for 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 AccountingjMeasurement 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. 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. PAGE 4 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 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 expense 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, 2008, 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 Govermnental 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 full. 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, 2008 E. Budizetary Data 1. Budget Policies - The budget policies are as follows: a. No later than October 5th, the Town Supervisor and the Town Budget Officer submit_ a tentative budget to the Town Board for the ensuing fiscal year beginning the following January 1 st. The tentative budget includes proposed expenditures and the proposed means of financing for all funds. b. After public hearings are conducted to obtain taxpayer comments, no later than November 20th, the Town Board adopts the budget. The 2009 Town Budget was adopted November 6, 2008 under Board Resolution No. 2008-231. 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 fund 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. For year ending December 31, 2008 NO budgetary encumbrances were outstanding. 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. PAGE 6 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 F. Property, Plant and Equipment - General 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 cash reserves are provided for the future replacement of 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 funded 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. For year ending December 31, 2008 the Town of Ithaca has NO cash invested in certificates of deposit and NO invested funds in the stock market, in any mutual funds, index fund or any third party investment fund(s) or securities. 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. PAGE 7 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 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. (The NYS Employee Retirement System Uses 165 days of sick leave time when calculating retirement service time.) Employees who retire apply any unused sick leave days 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 funds as a long-term liability in the General Long -Term Debt Account Group (GLTDAG) if payable from future financial resources, or as a fund liability and expenditures, if payable from current resources. The liability for compensated absences increased by $8,160 during the year to $135,050 as 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 expense 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 healthcare liability costs of $254,860. 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. The Plan permits participants to defer a portion of their salary until future years. Amounts deferred under 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. . 0 PAGE 8 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 DEFFERRED COMPENSATION PLAN Nationwide Retirement Solutions Note 2 Detail Notes on All Funds and Account Groups A. Assets 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, 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 into 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, 2008 totaled $5,762,333. These deposits were fully collateralized by securities with a fair market value at December 31, 2008 of $11,926,000 or 206%. PAGE 9 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 2. Changes in Fixed Assets A summary of changes in general fixed assets as follows: DESCRIPTION BALANCE 1/1/08 Land Easements Buildings Improvements Other Than Bldg. Furniture and Furnishings Network/Computer Machinery & Equip Infrastructures Const in Progress Total 3. ADDITIONS DELETIONS BALANCE 2008 2008 12/31/08 $ 186,552 $ 0 $ 0 $ 186,552 71,000 0 0 71,000 3,959,825 0 0 3,959,825 354,704 941 0 355,645 184,908 728 0 185,636 96,047 0 0 96,047 3,208,899 280,299 136,383 3,352,815 6,051,038 1,000,312 0 899,491 64,572 .0 5,985,466 1,485,753 $ 15,113,285 $ 985,986 $ 419,532 $ 15,679,739 Other Receivables The Town had the following receivables at December 31, 2008: Fund Special Revenue: Water Sewer Liabilities 1. Pension Plans Description Rents & Special Assessments Rents & Special Assessments Total Special Revenue Amount $ 129,723 131,124 260 847 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 PAGE 10 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 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 funds. 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 12244-0001. 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 fund. Chapter 126 (Laws of 2000) adds Article 19 "Benefit Enhancements" of the New York State and Local Employees' Retirement 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 2008 $ 216,161 2007 $ 234,489 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 2008 fiscal year was $6. PAGE 11 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 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 15d, to February 1" for the New York State and Local Retirement System, the Town of Ithaca accounting records reflect prepaid retirement costs totaling $216,161 for the year 2008. 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 2009 budget. In 2005 the Town of Ithaca establishment a "General Purpose Benefit Cash Reserve" for future 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, 2008 is $300,000. Increases (deposits and interest earnings) or decreases (withdrawals) to the "benefit reserve" will be assessed annually. In the interest of preserving and maintaining sufficient fund balances in each of the respective operating funds (General Townwide, General Part -Town Outside, General Part -Town Highway Outside, Water and Sewer) to effectively meet day-to-day expenditures, additional monies were not deposited to the "General Purpose Benefit Cash Reserve" for the year 2008. This cash reserve is capped at $350,000. Including accumulated interest earnings, once the cap of $350,000 has been deposited to this cash reserve account no more annual contributions will be made. Funds will be replenished when funds are withdrawn to meet unanticipated costs spike in employee benefits. (E.g. NYS Retirement, Health Insurance, Unemployment Benefits...) 10 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. 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 period(s) equivalent to the maximum life of the permanent financing, provided that stipulated annual reductions of principal are made. As of December 31, 2008, temporary financing totaled $1,125,725 in Bond Anticipation Notes (BANS) outstanding for the Town of Ithaca. 3. Long -Term Debt a. At December 31, 2008, the total principal serial bond indebtedness outstanding of the Town of Ithaca aggregated $4,206,000. Of this amount, $720,000 was subject to the Town's constitutional debt limit and represented one percent (1.05%) 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. PAGE 12 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 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 full 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, 2008 by fund type and account group: Liabili Serial Bonds Bond Anticipation Notes Compensated Absences Total Outstanding Debt Account Group $ 4,206,000 1,125,725 135,050 5,466,775 e. The following is a summary of changes in Long -Term liabilities for the period ended December 31, 2008: Serial Due Employee Compensated Installment Bonds Retirement Absences Bond Bal 1/1/08 $4,923,000 $ 0 $ 126,890 $1,217,000 Additions -0- 0 8,160 1,125,725 Deletions 717,000 0 0 1,217,000 Bal 12/31/08 S=4,206,000 $ 0 $ 135,050 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, 2008 amounted to $283,586. Unpaid Bond Interest on the remaining outstanding indebtedness at December 31, 2008 is $1,018,780. 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) PAGE 13 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 g. The following table summarizes the Town of Ithaca's future debt service requirements as of December 31, 2008. (See Exhibit C) C. Reconciliation of Inter -fund (between funds) Activities Inter -fund receivables and payables at December 31, 2008 were as follows: FUND DUE FROM DUE TO INTERFUND INTERFUND RECEIVABLE PAYABLE REVENUE EXPENSE Gen'l Town -Wide $ 0 $ 0 $ 338,671 $ 146,085 General Part -Town 0 0 0 37,911 Highway 0 0 0 37,911 Water 0 80 2,993 859,518 Sewer 80 0 0 350,008 Capital Projects 0 0 184,000 0 Debt service 0 0 976,945 0 TOTAL $ 80 $ 80 $ 1,432,433 $ 1,432,433 D. Fund Equity 1. Reserves a. The General Townwide Fund equity includes reserve funds established for future the purpose of park development and the purchasing of development rights as outlined in the Town's Open Space Plan.' The balance at the end of 2008 was $463,779. 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 funds established for highway machinery. The balance at the end of 2008 was $2,593. 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. PAGE 14 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31.2008 c. The General Town Wide Fund, the General -Part Town Fund Outside, the General Part -Town Highway Fund Outside, the Water Fund, and the Sewer Fund equity includes funds 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 2008 was $300,000. 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. General Town Wide Fund $ 151,170 General Part -Town Fund 44,575 General Part -Town Highway Fund 82,994 Water Fund 13,546 Sewer Fund 7,716 2. Sewer Fund Balance 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 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 • TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 EXHIBIT A 7— ISSUE DESCRIPTION ISSUE ORIGINAL INTEREST MATURITY 12/29/17 � DATE ISSUE RATE DATE PUBLIC IMPROVEMENT (SERIAL) , 2003 12/29/03 $ 1,000,000 3.95% 12/29/17 PUBLIC IMPROVEMENT (SERIAL), 2006 01/07/06 $ 200,000 3.75% 01/07/11 SOUTH HILL WATER TRANSMISSION MAIN PHASE II — SIB, 2005 09/28/05 $ 500,000 3.60% 09/28/15 BOSTWICK RD WATER TANK and TRANSMISSION MAIN (SERIAL), 2004 02/12/04 $ 1,000,000 3.88% 02/12/19 PUBLIC IMPROVEMENT (SERIAL), 2004 11/15/04 $ 2,000,000 4.346% 11/15/24 PUBLIC IMPROVEMENT BOND / 1991 ( 52% WATER - 48% SEWER) 07/15/91 $ 4,465,000 6.625% 07/15/11 TOTAL ISSUED DEBT @ 12/31/08 $ -9,165,000 PAGE 16 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 EXHIBIT B ISSUE OUTSTANDING ALLOCATED DEBT 12/31/08 TOWNWIDE SPECIAL DISTRICTS PUBLIC IMPROVEMENT SERIAL BOND PUBLIC WORKS FACILITY EXPANSION 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 17 $ 640,000 $ 640,000 $ 0 80,000 80,000 0 $ 750,000 $ 0 $ 1,000,000 $ 400,000 $ 0 $ 440,000 $ 736,000 $ 0 $ 802,000 $ 1,600,000 $ 0 $ 1,700,000 $ 4,206,000 $ 720,000 $ 3,486,000 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2008 EXHIBIT C ISSUE DESCRIPTION 2009 2010 2011 PRIN INT PRIN INT PRIN INT PUBLIC IMPROVEMENT $250,000 $49,688$ 250,000 $ 33,125 $ 250,000 $15,563 BOND / 1991 PUBLIC IMPROVEMENT $71,000 $25,280 $71,000 $22,476 $71,000 $19,671 BOND / 2003 2012 PRIN INT 2012 - 2024 PRIN INT $71,000 $16,867 $355,000 $42,265 PUBLIC WORKS $50,000 $14,400 $50,000 $12,600 $60,000 $10,800 $60,000 $8,640 $180,000 .$12,960 FACILITY EXPANSION SIB / 2005 SOUTH HILL WATER $40,000 $9,000 $40,000 $6,000 $40,000 $3,000 TRANSMISSION MAIN SIB / 2005 BOSTWICK RD WATER $66,000 $27,276 $67,000 $24,696 $67,000 $22,097 $67,000 $19,947 $469,000 $63,691 TANK & TRABSMISSION MAIN (SERIAL) BOND / 2004 PUBLIC IMPROVEMENT $100,000 $67,000 $100,000 $62,750 $100,000 $58,500 $100,000 $54,250 $1,200,000 $316,688 (SERIAL) BOND / 2004 TOTAL ANNUAL DEBT $ 577,000 $192,644 $ 578,000 $ 161,647 $ 588,000 $ 129,631 $ 298,000 $ 99,254 $ 2,204,000 $ 435,604 PAGE 18 TOWN OF ITHACA CONSTITUTIONAL DEBT LIMIT The following was prepared, pursuant to Tile 8, Article II of the Local Finance Law. DEBT LIMIT Taxable Real Property: 12/31/2004 12/31/2005 12/31 /2006 12/31/2007 12/31/2008 Total for 2004 - 2008 $ 835,297,966 937,022,814 1,019,584,844 1,040,091,254 1,054,730,990 $ 4,886,727,868 Average Five (5) Year Full Valuation $ 977,345,574 Permitted Percentage of the "Average Full Valuation" 7% Town of Ithaca Constitutional Debt Limit $ 68,414,190 $68,414,190 represents the maximum amount of gross or net debt that the Town of Ithaca can issue and have outstanding allowable under the NYS Constitution, Article VIII, Section 2. TOTAL NET INDEBTEDNESS OF THE TOWN Principal Borrowings Outstanding @ 12/31/08 $ 4,206,000 Total Inclusion $ 4,206,000 Less total exclusion: Water & Sewer Indebtedness (3,486,000) Total Net Indebtedness of the Town of Ithaca $ 720,000 NET -CONTRACTING MARGIN Constitutional Debt Limit $ 68,414,190 Less: Total Net Indebtedness (720,000) Net Debt -Contracting Margin $ 67,694,190 PERCENTAGE OF DEBT -CONTRACTING POWER EXHAUSTED • "Total Net Indebtednes" divided by "Debt Limit: 1.05% Page 19 Page 1 of 1 Thank you, 500342300000 from the TOWN of ITHACA, for your Submission to the Local Government and School Accountability Data Exchange System on 03/05/2009 10:48:05 AM. All submissions are subject to verification by OSC. Home You may save or print this page for your records. 0 is https://nysoscll.osc.state.ny.us/product/efsdex.nsf/FileNo/500342300000?EditDocument&... 3/5/2009