HomeMy WebLinkAbout2010 Annual Report Submitted to the NYS Comptroller{
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T'O-- 1� l �a O— ��� —-- ITHACA,
COUN
OF TOMPKINS
STATE OF NEW YORK
ANNUAL FINANCIAL REPORT
UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
Town of Ithaca
215 N. Tioga Street
Ithaca, NY 14850
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 12/31/2010
AUTHORIZATION
ARTICLE 3, SECTION 30 of the GENERAL MUNICPAL 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 *** 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 2009 and has been used by the OSC as the basis for preparing this
update document for the fiscal year ended 2010:
(A) GENERAL
(B) GENERAL TOWN -OUTSIDE VG
(DB) HIGHWAY -PART -TOWN
(FX) WATER
(G) SEWER
(H) CAPITAL PROJECTS
(K) GENERAL FIXED ASSETS
(SF) FIRE PROTECTION
(SL) LIGHTING
(TA) AGENCY
(TE) PRIVATE PURPOSE TRUST
(V) DEBT SERVICE
(W) GENERAL LONG-TERM DEBT
All amounts included in this update document for 2009 represent data filed by your government with
OSC as reviewed and adjusted where necessary.
*** ARRA SECTION ***
The American Recovery and Reinvestment Act (ARRA) section of your Annual Financial Report
is designed to report revenues and expenditures of federal stimulus money
for the current fiscal year ended.
*** 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
7) Schedule of Other Post Employment Benefits (OPEB)
All numbers in this report will be rounded to the nearest dollar.
Page 2
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Balance Sheet
Assets
Cash In Time Deposits
Petty Cash
1,964,992 A201 1,706,083
725 A210 725
Accounts Receivable 724 A380 12,590
State & Federal, Other 21,142 A410 21,142
Due From Other Funds 156,843 A391 367,034
Due From Other Governments 232,396 A440 12,384
Prepaid Expenses 117,260 A480 179,746
Cash, Special Reserves 668,740 A230 663,809
Page 3 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Balance Sheet
Unreserved Fund Balance Appropriated 489,461 A910 545,125
Unreserved Fund Balance Unappropriated 1,755,731 A911 1,481,857
Page 4 OSC Municipality Code 500342300000
Liabilities
Accrued Liabilities
248,890 A601
219,072
Due To Other Funds
A630 53,650
Unreserved Fund Balance Appropriated 489,461 A910 545,125
Unreserved Fund Balance Unappropriated 1,755,731 A911 1,481,857
Page 4 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Results of Operation
_ y 4
_
g.
Revenues
Insurance Recoveries
374
A2680
13,845
TQit Sa%Ani`2 ersaltfpn FQr IIiC►8>a
��,�
Refunds of Prior Year's Expenditures
8,547
A2701
14,928
Grants From Local Governments
1,400
A2706
1,962
Unclassified (specify)
3,405
A2770
5,175
Additional Description Court ordered restitution
«...:w.... �vWd....'T3:�H�...,..,.r.:.%........,., m..ev..._ mwe..V3..u...a�«w'.,ru...w..s
rc...,..rnrw..,..aw..a..W
P..�a...:w..,..,X.xn
St Aid, Mortgage Tax
341,823
A3005
208,355
St Aid - Other (specify)
2,035
A3089
St Aid -Other Cul & Rec St Aid
43,284
A3889-
13,858
.49,
TQT1�. F� � U88 �.��� :. ��,'' � ' � �� � �� " � ` � � a�� .*� ��,, • F � � as es ,� $ .�,A,.�k� �,,.�.; �� ���.�,� +"� 11i
Interfund Transfers
Bond Anticipation Notes
339,245 A5031 439,423
A5730 30,000
��TQ��i!"Cb3S dF cP�""\ � � ' ��` �,u �. � ._„�.._ �� ..., '�. '✓a�`xi �^i w x A, � �� ry' w��f+'F�«� _.�k._.., '� �� ;.2' � +.`�r:l�i�i°lr,
..._,......tea.,:.». ...L,sw............_..... ate°'' � ax ; :.:Ss. -- ......,, ,... ,. s...�.......,_..,..._..,kv�..,.�-a.
Page 5 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Results of Operation
Supervisor,equip & Cap Outlay 549 A12202
ff_.pA'-C-
C%TalWim� 4�
i�
Tax Collection,pers Sery
53,557 A13301 57,663
Tax Collection,contr Expend
Expenditures
�iQ"iA� 1��1t!lilifeCtlQtFt�, �� � # ,f �,� �w�,�e�,� -� � � ': a � ,.<�� e`� �� �, ��• ���si ° � x ?'�
Budget, Pers Sery
80,155 A13401 83,617
Legislative Board, Pers Sery
52,262
A10101
52,784
Legislative Board, Contr Expend
5,860
A10104
7,747
����� LGgksitius.Bo�trd 4&�Z L,� i�' ''v �•x is,�'� 'a. _ Un- `� � � �i3 t i ��� : ....
s,a.,... a'c..�, ..tt�>aseiaaa sE.. , �.a�a,:uk�w•�• •Y� '
......_,,,.__.:..:.a�:.....W«.,.._...,...................s .......aa. .�,.w,k�.x;...... ,,,...�,....,....,,,w.. .....,...,:.«m.:»...a....,.a...,.»,m,w�,.:-m»,nm3:.Ath:?3,.m3:�R."�,....Y:...
Municipal Court, Pers Sery
130,159
A11101
131,556
Municipal Court, Equip & Cap Outlay
2,870
A11102
24,901 A14304 7,791
Municipal Court, Contr Expend
249,875
A11104
219,651
N�u�ltdipal Court `������'- ��y �, -- �.
TOT �•
Engineer, Contr Expend
.0.L ..... ;.. . >�"��.
������` °^�, " �r3.: `` �^,,.� �: � s..a . :i �.1 ;s.:.. ,� t?% ,t�wt�;3 ��•�3+. \ aE:�r''� w '�+fa�l�[ -, �''� w� �4��m _r.
ear e ...��- ` s �:v. � "�.4w..«.:�.�a.�>• •F•i, .sat.. aa..we�,�...�.�...s..:„, ,.. ,,,.,,. �.,::�..,.. .....a�a:.
Elections, Contr Expend
_ .���:
Supervisor,pers Sery
48,036
A12201
48,517
Supervisor,equip & Cap Outlay 549 A12202
ff_.pA'-C-
C%TalWim� 4�
i�
Tax Collection,pers Sery
53,557 A13301 57,663
Tax Collection,contr Expend
9,040 A13304 7,505
�iQ"iA� 1��1t!lilifeCtlQtFt�, �� � # ,f �,� �w�,�e�,� -� � � ': a � ,.<�� e`� �� �, ��• ���si ° � x ?'�
Budget, Pers Sery
80,155 A13401 83,617
Budget, Contr Expend
857 A13404 869
x,�az,az..w«...«.. ..._,.rte.. �.»... _.,.�..._.,, _...... ..�,. ,�:i',�w.��... ���.. a�»,�»..•:a$.�;�.w.a;�a ..�,.�.:.
Clerk,pers Sery
106,946 A14101 99,334
Clerk,contr Expend
6,614 A14104 4,788
251
Law, Contr Expend
39,411 A14204 34,414
Personnel, Pers Sery
121,162 A14301 120,851
Personnel,equip & Cap Outlay
A14302
Personnel, Contr Expend
24,901 A14304 7,791
Y.,»n.:�.�:a.,., �»�au�...,.+.v: • y�.«a�,.a,,. ;.���...,..«.,..,...,....,......,.,.....,�.:�,..,a,.a^W>.. �,.w,.�.m�a:''uw..�`:a:3#s" ..•.�.. €'a.....w.».._�,....,....»-. .,,.......,.._..,.
Engineer, Pers Sery
212,508 A14401 226,419
Engineer, Equip & Cap Outlay
16,565 A14402 6,058
Engineer, Contr Expend
8,059 A14404 13,526
������` °^�, " �r3.: `` �^,,.� �: � s..a . :i �.1 ;s.:.. ,� t?% ,t�wt�;3 ��•�3+. \ aE:�r''� w '�+fa�l�[ -, �''� w� �4��m _r.
ear e ...��- ` s �:v. � "�.4w..«.:�.�a.�>• •F•i, .sat.. aa..we�,�...�.�...s..:„, ,.. ,,,.,,. �.,::�..,.. .....a�a:.
Elections, Contr Expend
4,»701 A14504 2,351
..�....��...:�.a»..�,._a,.�.="..««.,...w.u�.a»:�_.�....�.m.��.' Fa..�z�§�•.dz.,�.... ., .. �,. �... �;�e,..�,..��., �,....dx..W.~�..,�..,.......�..»s�w '�.�.u.�t,.«.., � ^'" I ..",:ai�t'�s��m,
Records Mgmt, PerS. SerV.
1,963 A14601 2,203
Records Mgmt, Equip & Cap Outlay
A14602
Records Mgmt, Expend
6,369 A14604
pContr
A77,»[500��3ss
�..,lwm.wwar..+�8w> w`•.��».w�" ,:aa0m'a»ia�,.�,'m.Hwk....:w .....�...,w�.F'�arc�;. �l r.2''»°w�u wL:.wusu4vx.wra.a�w°s..b«m@t�•n' r..,...1. ...
Buildings, Pers Sery
31,525 A16201 28,678
Buildings, Equip & Cap Outlay
9,323 A16202 9,010
Buildings, Contr Expend
78,362 A16204 81,285
Central Comm System, Contr Expend
3,671 A16504 3,543
Page 6 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Results of Operation
Expenditures
Central Storeroom, Contr Expend
2,039 A16604 1,366
�,
Central Print & Mail, Equip & Cap Outlay
7,179 A16702 6,195
RecrXxeation Admmiini, Contr Expend
Central Data Process, Pers Sery
57,056 A16801 57,672
Central Data Process & Cap Outlay
16,724 A16802 8,612
Central Data Process, Contr Expend
38,593 A16804 55,317
• �_ r s
x
T,:kt��A`4�CerttCaf ��1��"�"������.��..,F� � �. � � ���k;� ����.w � �:�7� � �� •�e� .. .,�'��'! +f'
Unallocated Insurance,Contr Expend
75,/366{00 A19104
�S..e,��ti'�n..,�.we��fii����e�A��:11AYW �&� t �.»..,.vw..ya.....v..,.._................e...�.�._..........aa..«s,..._...,_..v..L..
�65,295
�n-�.,:3P�..� f.......».:.....'.°�e''+S�,a.A"��a.•aw`'1'`a`�w}..a.t.:«wi,vv......�:.���..a,'�o....� �,'dY....".A� � Si1�l..�....«....
Municipal Assn Dues, Contr Expend
1,500 A19204 1,500
�gai�l �I�inirl RE�•�A.��_UF+T -�a ,
ue.:�.....�;.ww:a....�.«,...�aw<.....«�..n' .�l�.a,''�H.�,k"�`a*_'u's
'..,., �ai� y +!'� 4k P�-_�'�' � �" -.: � � �a I 4� '.�i �'s''z �i
"• �,'., , «,��'..�a::��•..���: ���a`a'aa.»: a,�,.,�.::.a'.��. � y r
Pur of Land/right of Way, Contr Expend
A19404
iQiAf, pr,Tbf Land%rf of waF�
C
Taxes & Assess On Munic Prop, Contr Expend
7,157 A19504 6,994
3 C��f�alr�rtitxtent suEiprart� � �.'.a `� ,9 � ,:��•' '.. � � -� `� .;' '�` �(„�� 6., 3 ���. 3 �'��`
Traffic Control, Contr Expen
20,113 A33104 22,707
�.C. �_�� �ittrr�l °'� n......v.�,>.�,..,•,.......�. �,.,.� °� 3� � «. a R� �•s � � '�� ,..._.� ..:_ ��,�� �" � -� 3 w � �.._ a� ���':
Control of Animals, Contr Expend
54,670 A35104 68,,704
Street Admin, Pers Sery
128,265 A50101 144,530
Street Admin, Equip & Cap Outlay
737 A50102
Street Admin, Contr Expend
3,343 A50104 3,357
Recreation Admini, Pers Sery
63,742
A70201
65,753
RecrXxeation Admmiini, Contr Expend
19,1100
A70204
3,�3y00
1if'w i�vcR.+*...IES _._ 3 ...�._.�._,,,_......:,,. '.-'.y'.•�,w."
.. .. .�
77Y Z
.„v..�,,r`�E
...,.... :,asi....n...K._
Parks, Pers Sery
299,171
A71101
255,764
Parks, Equip & Cap Outlay
55,238
A71102
46,936
Parks, Contr Expend
186,243
A71104
102,420
Playgr & Rec Centers, Contr Expend
A71404
Page 7 OSC Municipality Code 500342300000
TOWN OFIthaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Results of Operation
Expenditures
Special novFacility, ComzExpend
x71804 4,491
Joint Youth pmg.Com,Expend
263.976 A73204 265.168
Library, oont,Expend
20,000 A74104 20,000
Historian, Pers aem
1.164 A751 01 1.000
Historian, ContrExpend
x75104 40
Celebrations, Equip & Cap Outlay
3.515 A7e502 1.7e1
Planning, Pers oam
A80201 13.216
Planning, Com,Expend
x80204 1.758
Storm Sewers, Pers Sum
u.*ue A81*01
Storm Sewers, Co,urExpend
e6.779 A81404
Drainage, Pers Gam
A85401 102.450
Drainage, Equip aCap Outlay
A85402 11.754
Drainage, ComrExpend
A85404 62.10e
MiooHome uComm Gom.ContrExpend
26.580 A898e4 27.780
State Retirement System
106.178 A90108 107.344
Social Security, Employer Cont
10e.950 Ae000a 116.e38
Worker's Compensation, smp|anMo
14.0ee Ae0408 19.782
Life Insurance, Emp|8nMo
2,392 Ae0458 u.o*u
Unemployment Insurance, Emp|on0s
2,665 A90500 6.144
Disability Insurance, Emp|BnMo
7.957 Aoossu u.e^o
Hospital & Medical (dontaVIns, smp|anft
000.o^o Aeoeoa 457.348
Transfers, Other Funds 142J80 A990 19 137,050
Page 8 1 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Changes in Fund Equity
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity -Beginning of Year
2,785,618 A8021
2,913,932
Restated Fund Equity - Beg of Year
2,785,618 A8022
2,913,932
ADD - REVENUES AND OTHER SOURCES
3,772,285
3,572,629
DEDUCT - EXPENDITURES AND OTHER USES
3,643,971
3,795,769
Fund Equity -End of Year
2,913,932 A8029
2,690,792
Page 9 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Budget Summary
Estimated Revenues
Est Rev - Real Property Taxes
2,122,571
A1049N
2,133,637
Est Rev - Real Property Tax Items
42,850
Al 099N
43,400
Est Rev - Non Property Tax Items
195,498
Al 199N
385,498
Est Rev - Departmental Income
36,850
A1299N
60,450
Est Rev - Intergovernmental Charges
55,852
A2399N
53,348
Est Rev - Use of Money And Property
69,000
A2499N
58,000
Est Rev - Licenses And Permits
6,500
A2599N
8,000
Est Rev - Fines And Forfeitures
250,000
A2649N
290,000
Est Rev - Miscellaneous Local Sources
185,000
A2799N
0
Est Rev - Interfund Revenues
431,423
A2801 N
514,667
Est Rev - State Aid
30,180
A3099N
165,000
Estimated - Proceeds of Obligations 163,316 A5799N 300,000
Appropriated Fund Balance 488,461 A599N 546,625
Page 10 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(A) GENERAL
Budget Summary
Appropriations
App - General Government Support
1,646,714
Al 999N
1,912,586
App - Public Safety
278,122
A3999N
79,544
App - Transportation
367,265
A5999N
496,886
App - Culture And Recreation
916,190
A7999N
887,295
App - Home And Community Services
127,760
A8999N
167,311
App - Employee Benefits
602,400
A9199N
856,600
TO'FAI.Appro nations �� .a����� „, - ��. ,,:. �'� <�.I��
App - Interfund Transfer
139,050
A9999N
158,403
Page 11 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(B) GENERAL TOWN -OUTSIDE VG
Balance Sheet
Assets
Cash In Time Deposits 373,521 B201 301,963
Accounts Receivable B380 717
iC'4�i7ith F��C3er i� 138 (i18t�.. `' •v 3'� M�� �..' � '°�: � _��.�� � �`�'� ��:..::: z..�, ii � � ".• •_�„' �,.��' � � �y r�'�.
Due From Other Governments B440 107,799
Prepaid Expenses
49,039 B480 61,317
Cash, Special Reserves 44,843 B230 22,250
Page 12 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(B) GENERAL TOWN -OUTSIDE VG
Balance Sheet
Liabilities
Accrued Liabilities 97,596 8601 80,806
Miscellaneous Reserve (specify) 44,843 B889 22,250
Unreserved Fund Balance Appropriated 43,732 B910 140,350
77 00
__r, a 4 40
............
Unreserved Fund Balance Unappropriated 281,232 B911 250,640
Page 13 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(B) GENERAL TOWN -OUTSIDE VG
Results of Operation
Unclassified (specify)
St Aid, State Revenue Sharing
B2770 36
95,198 B3001 89,443
TOTAL R . tree .
---tea
7L L1 {f24 275 , I.124
Page 14 OSC Municipality Code 500342300000
Revenues
Sales Tax (from County)
722,964
B1120
801,152
Franchises
89,233
B1170
70,364
qa. �
iC3'�A�. NNc►ix R'iaEiet�rT�+�,tt� '�,.N..,,�•,
� � � � �r, � � � c �.;�> �
a� �' �° -,v . C \ �
�1, 16,
�,
µa , � .. � a� ., s
p ,
Other General Departmental Income
109,606
81289
138,836
Zoning Fees
2,800
B2110
1,700
Planning Board Fees
10,718
B2115
17,328
Youth Recreation Services, Other Govts
B2350
Unclassified (specify)
St Aid, State Revenue Sharing
B2770 36
95,198 B3001 89,443
TOTAL R . tree .
---tea
7L L1 {f24 275 , I.124
Page 14 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(B) GENERAL TOWN -OUTSIDE VG
Results of Operation
Zoning, Pers Sery 241,154 B80101 253,497
Zoning, Contr Expend 20,256 B80104 18,229
Planning, Pers Sery 365,098 B80201 354,099
Planning, Contr Expend 28,498 B80204 28,219
State Retirement, Empl Bnfts
35,338
Expenditures
49,039
Auditor, Contr Expend
2,002 B13204 1,084
TOTAL Auditgr, w . _. :..:�..; ,'� � ~.: .,u ... •b�s _ yp .. ,_ � - . -; ....?sem ,,•�w� '1�,
Law, Contr Expend
55,658 814204 63,192
TiOTALLaw � -W � "`,,.�.. �....�,. � ...f a =-77�,�.� T 5;658, �,F���� 63;192.•
-`
�
Buildings, Equip & Cap Outlay
B16202 774
TOi•,�"�L+Bcr�tangs �e: �,�.. �� � ,� ��,Y, ��� n'
.� 5 _ , ..
.y�:. �` . -�,. �� � ,��.�.
Comm Contr Expend
1,7♦4�9 1316504 1,6057
rCentral /System,
..x
Central Print & Mail, Contr Expend
1,591 B16704 1,143
B90608
148,777
Central Data Process & Cap Outlay
5,332 B16802 5,507
Central Data Process, Contr Expend
20,840 B16804 15,204
Unallocated Insurance, Contr Expend
12,470 B19104 9,093
Judgements And Claims, Contr Expend
B19304 1,116
'TOTAL Judgements And Cia�ims a 0� 1,11
_
Taxes & Assess On Munic Prop, Contr Expend B19504
Zoning, Pers Sery 241,154 B80101 253,497
Zoning, Contr Expend 20,256 B80104 18,229
Planning, Pers Sery 365,098 B80201 354,099
Planning, Contr Expend 28,498 B80204 28,219
State Retirement, Empl Bnfts
35,338
B90108
49,039
Social Security, Empl Bnfts
45,658
B90308
45,659
Worker's Compensation, Empl Bnfts
3,062
B90408
5,835
Life Insurance, Empl Bnfts
1,062
B90458
1,087
Disability Insurance, Empl Bnfts
3,541
B90558
3,588
Hospital & Medical (dental) Ins, Empl Bnft
98,238
B90608
148,777
T07AL Expepditure�R-7m
Transfers, Other Funds 38,198 B99019 73,784
Page 15 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(B) GENERAL TOWN -OUTSIDE VG
Changes in Fund Equity
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity- Beginning of Year 325,281 B8021 369,811
Restated Fund Equity- Beg of Year 325,281 B8022 359,811
ADD - REVENUES AND OTHER SOURCES 1,024,275 1,124,012
DEDUCT - EXPENDITURES AND OTHER USES 979,745 1,080,583
Fund Equity- End of Year 369,811 B8029 413,240
Page 16 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(B) GENERAL TOWN -OUTSIDE VG
Budget Summary
Estimated Revenues
Est Rev - Non Property Tax Items
807,964
131 199N
777,964
Est Rev - Departmental Income
109,200
B1299N
156,400
Est Rev - Use of Money And Property
2;000
B2499N
0
Est Rev - Sale of Prop And Comp For Loss
0
B2699N
0
Est Rev -Miscellaneous Local Sources
0
B2799N
0
Est Rev -State Aid
89,000
B3099N
89,000
Appropriated Fund Balance 43,732 B599N 140,350
Page 17 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(B) GENERAL TOWN -OUTSIDE VG
Budget Summary
Appropriations
App - General Government Support 70,012 B1999N 74,155
App - Home And Community Services 697,750 B8999N 731,700
App - Employee Benefits 210,350 B9199N 284,400
App - Interfund Transfer 73,784 B9999N 73,459
Page 18 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(DB) HIGHWAY -PART -TOWN
Balance Sheet
Page 19 OSC Municipality Code 500342300000
Assets
Cash In Time Deposits
429,524 DB201 590,673
Petty Cash
200 DB210 200
Accounts Receivable
7,892 DB380 150
Due From Other Funds
� y
434 DB391 72,214
Due From Other Governments
DB440 221,753
a
TO7•AL DUSylOtii OtheC G4Y8 menta=fin 4 a
Prepaid Expenses
38,152 DB480 79,20/0
TOTAL;I?te I� �JC�eri$@a �P��d {` k N�i$� ''a3� �� a+���7r � �� _; �! x �P•��� Axa SIIV�+{� ' i��'8 S���Y{l
>, a. o a ='mac• .. a`dt :. �: ,...va., _ .,.. vu _ _
Cash Special Reserves
86,043 DB230 71,477
Page 19 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(DB) HIGHWAY -PART -TOWN
Balance Sheet
Miscellaneous Reserve (specify) 83,436 DB889 44,287
Unreserved Fund Balance Appropriated -268,852 DB910 -72,045
�"� Uct ..,• ed �'i7d Baial�c;a �w' , � ,,. Ated � ����� �� 'r� �, ��,,,�� ����2.68�1a24,v.�,.�._... � _ :,•���,
Unreserved Fund Balance Unappropriated 580,286 DB911 882,229
Page 20 OSC Municipality Code 500342300000
5 w I
Liabilities
Accrued Liabilities
164,768 DB601
144,099
lie
! Ye ;
y Wlv
Due To Other Funds
DB630
9,907
Miscellaneous Reserve (specify) 83,436 DB889 44,287
Unreserved Fund Balance Appropriated -268,852 DB910 -72,045
�"� Uct ..,• ed �'i7d Baial�c;a �w' , � ,,. Ated � ����� �� 'r� �, ��,,,�� ����2.68�1a24,v.�,.�._... � _ :,•���,
Unreserved Fund Balance Unappropriated 580,286 DB911 882,229
Page 20 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(DB) HIGHWAY -PART -TOWN
Results of Operation
11011101,11,1111
Revenues
Real Property Taxes
DB1001
731,948
s' a<
Rg `�,r.: �d:,�".�?
�'��E `�
�. ., ::• ae, �? �e. ��:,
�z��3�.1=: .�a..
A�� n�����
Sales Tax (from County)
1,448,310
DB1120
1,571,259
TOTAL No :PraperEyi�Tax 1#et»s,�e.. �, � �� � ` . �:,. `�... � ...� . n.. �... �. • : ;:'
..... w.. � ,� � ..�•�,; 44s,3fo . � x �� ^` �� ..1;b'7`i;259
Transportation Services, Other Govts
27,917
DB2300
32,774
77
Interest And Earnings
2,861
DB2401
2,843
Sales of Equipment
27,902 DB2665 19,623
Insurance Recoveries 9,212 DB2680 5,760
Page 21 OSC Municipality Code 500342300000
TOWN OFIthaca
Annual Update Document
For the Fiscal Year Ending 2D1O
(DB) HIGHWAY -PART -TOWN
Results of Operation
Expenditures
Administration -Contractual 2,647 DB17104 11,587
maint of Streets, Pers Sery
256,287
DB51101
284,525
momtv/Streets, oontrExpend
127,e14
oo51104
115,304
its
01,
399'824
Improvements, Pers nom
31.676
oo51121
20,488
Perm Improve Highway, Contr Expend
111,281
DB51 124
155,804
Machinery, Pers oom 78,158 oo51301 86,2e3
Machinery, Equip & Cap Outlay 163,072 oo5302 283,346
Machinery, Contr Expend 83,388 DB51304 99,350
Brush And Weeds, Pomaom 271,858 oas 4m 180,380
Brush And Weeds, Contr Expend 12,431 DB51404 16,933
Snow Removal, Pers Gom
124,257
ooe 4o1
164,e95
Snow Removal, Cvntr Expend
87,508
oa51424
128/440
State Retirement, smpienho
58.108
oa90108
38,151
Social Security, smp|anno
57.e07
ooeooua
60,777
Worker's Compensation, smp|annu
43.127
ooe0408
3e.381
Life Insurance, smp|anMu
1.358
oeoo*sa
1.377
Unemployment Insurance, smp|anMo
10.881
oanosoa
3,600
Disability Insurance, Emp|anMo
3.6e4
Doeoosu
3,905
Hospital mMedical (JenuoVIns, Emp|enft
208.312
DOeoeua
211.365
Transfers, Other Funds 38,138 DB99019 50,026
Page 22 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(DB) HIGHWAY -PART -TOWN
Changes in Fund Equity
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity- Beginning of Year 613,698 DB8021 397,477
Restated Fund Equity - Beg of Year 613,698 DB8022 397,477
ADD - REVENUES AND OTHER SOURCES 1,555,811 2,440,171
DEDUCT - EXPENDITURES AND OTHER USES 1,772,032 1,955,987
Fund Equity- End of Year 397,477 DB8029 881,661
Page 23 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(DB) HIGHWAY -PART -TOWN
Budget Summary
Estimated - Proceeds of Obligations 302,500 DB5799N 802,500
Appropriated Fund Balance -268,852 DB599N -72,045
Page 24 OSC Municipality Code 500342300000
Estimated Revenues
Est Rev - Real Property Taxes
732,568
DB1049N
737,022
Est Rev - Non Property Tax Items
1,448,310
DB1199N
1,273,964
EsT. ReV. - Intergovernmental Charges
12,150
DB2399N
14,000
Est Rev - Use of Money And Property
2,200
DB2499N
1,400
Est Rev - Sale of Prop And Comp For Loss
8,000
DB2699N
25,000
Est Rev - State Aid
74,000
DB3099N
74,000
Estimated - Proceeds of Obligations 302,500 DB5799N 802,500
Appropriated Fund Balance -268,852 DB599N -72,045
Page 24 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(DB) HIGHWAY -PART -TOWN
Budget Summary
Page 25 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the. Fiscal Year Ending 2010
(FX) WATER
Balance Sheet
Accounts Receivable
FX380
7Q1 Aft:i�f"nT \tti
»" c
AR to@ fPAlLM
frYPR
Prepaid Expenses
4,824 FX480
9,319
77,-
3 .»� &. . ,a
w,44 �
....
Cash Special Reserves
Cash
13,625 FX230
8,190
Page 2q OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(FX) WATER
Balance Sheet
sv-,A,. s v � � D "gym k•, ��:� ,E i� � z� sv� vv- 9 ! ..mow
Accrued Liabilities 10,116 FX601 69,931
�1/�y � ■, • y pyo � �, , � � Yy��. � 101'1 � � 9.981
Due To Other Funds 434 FX630 26,511
Unreserved Fund Balance Appropriated -210,816 FX910 -168,549
QTAL Unrese Fund 9alartas; ;l�pproprla#e�# ' 0;818 z- 168,5q
a ;
Unreserved Fund Balance Unappropriated 1,082,305 FX911 1,403,663
Page 27 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(FX) WATER
Results of Operation
Revenues
Special Assessments Ad Valorem 696,839 FX1028 691,627
Metered Water Sales
Water Service Charges
2,068,910 FX2140 2,145,494
28,096 FX2144 11,365
Interest & Penalties On Water Rents 26,404 FX2148
16,720
77 K� ...x Ail wo 7
it
Service For Other Govts 714 FX2378
787
1'AL�Irtfergovemmental Charges ,.a k,
Interest And Earnings 4,051 FX2401
3,597
Refunds of Prior Year's Expenditures -12,151 FX2701
-7,895
Unclassified (specify) FX2770
'MAL: Mtsaetianeous Locai,.Sources ,. _ � � ` 895
TQTAL'.ReVBttuell . e . as"...r_.. 1:2;$19
Interfund Transfers FX5031
104,454
TQ'tl�t.;initer�lmtl 7rairstere" `��� �, �' � ��, t � �.�_,." '_�� � � �, i► .� �. ���� s2 � s 1�4i
'[ �.:: VU 1 M� � wN ...f �. `dM�. �y'h. � �r��. a3'y �i. �d s.r�.��". �,w ���Y�' � n. � . "..y� . �. �U ¢ �._���•."r " -� � '�.•e�. ", ` d � i�;l. ay.. � 'w�,
-
.:: .. .�� >.._ .� :.515 .�,...� ._._�� .. •`
TOTAI. Detai; Reventi±s, And !gig
�2;96�1:49
Page 48 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(FX) WATER
Results of Operation
Expenditures
Administration -Contractual 4,739 FX17104 4,313
TOTALAdministrattun-Coritraatual� ., •�•�,..�..es»kis.,.` n,,.....'`� � �,,,,� a4r%38 ;�� • •s�, - ,4 31,3
Unallocated Insurance, Contr Expend 25,064 FX19104 27,424
Water Administration, Pers Sery
38,305
FX83101
38,679
Water Administration, Contr Expend
8,788
FX83104
FX90408
TOTAL,
r ....
Water Trans & Distrib, Pers Sery
76,474
FX83401
101,936
Water Trans & Distrib, Equip & Cap Outlay
27,707
FX83402
26,391
Water Trans & Distrib, Contr Expend
153,648
FX83404
2679430
r-
TQTAL
Common Water Supply, Contr Expend
1,264,989
FX83504
1,323,886
State Retirement, Empl Bnfts
Social Security, Empl Bnfts
Workers Compensation, Empl Bnfts
Life Insurance, Empl Bnfts
Unemployment Insurance, Empl Bnfts
Disability Insurance, Empl Bnfts
Hospital & Medical (dental) Ins, Empl Bnft
12,849
FX90108
4,824
8,722
FX90308
8,788
2,949
FX90408
2,064
354
FX90458
267
1,687
FX90508
558
991
FX90558
805
52,712
FX90608
40,147
TOTAL F�rpendltUres 1 695°9 Z
; [ $7O 61„
�, y. �»
Transfers, Other Funds 767,430 FX99019 737,677
Page 29 OSC Municipality Code 500342300000
(FX) WATER
Changes in . Equity
ANALYSIS
OF !
Fund Equity - Beginning of Year
Restated Fund Equity - Beg of Year
ADD - REVENUES AND OTHER SOURCES
DEDUCT - EXPENDITURES AND OTHER USES
Fund Equity - End of Year
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
535,646 FX8021
885,114
535,646 FX8022
885,114
2,812,863
2,966,149
2,463,395
2,607,958
885,114 FX8029
1,243,305
Page 30 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(FX) WATER
Budget Summary
Page 31 OSC Municipality Code 500342300000
Estimated Revenues
Est Rev - Real Property Taxes
686,335
FX1049N
689,645
Est Rev - Real Property Tax Items
7,361
FX1099N
0
Est Rev - Departmental Income
1,985,000
FX1299N
2,056,039
Est Rev -Intergovernmental Charges
500
FX2399N
0
Est Rev--+ Use of Money
4,000
FX2499N
2,500
YAnd
hl(Property
�� � ��F °��,� C� � L �'?� 3iY. 7�
�� G�fittR�eM .i'7��re/deli
�',^:4y$.
:���u
•w«ww�`'•
3...ti�'...kn "a
m+:iu. •. iR
Estimated - Proceeds of Obligations
3,160,000
FX5799N
3,200,000
Appropriated Fund Balance
-210,816
FX599N
-168,549
Page 31 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(FX) WATER
Budget Summary
" :.
Appropriations
App - General Government Support
App -Home And Community Services
53,373 FX1999N 61,005
4,787,930 FX8999N 4,929,823
App - Employee Benefits 53,400 FX9199N 53,300
App - Interfund Transfer 737,677 FX9999N 735,507
Page 32 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(G) SEWER
Balance Sheet
Page 33 OSC Municipality Code 500342300000
Assets
Cash In Time Deposits
1,383,083 G201 589,158
Sewer Rents Receivable
139,725 G360 131,539
T���`•��1F�s"��i�AW�M�.��ii�7r�>L 3 :... .•'@ 'H.F 3. '. ,; .,... .. m��� S'�`� %.� i. �`....`������X���wro�'�,..«wui:u.�.iu3adA:vc ...:::: �-�k_�� M'7/F�
z:R`�`.u':;5�a*..:......waas Ys'USa.«»a.^ #.*+._:. w�"'"»»ia..1...x.._:.,..a.:++:m�:_m��w:.• •.:c..�eA' u,?�,'�wv..1..: �'�.
Due From Other Funds
G391
JL67 L Qua „ m.Oth�►' Funds �
t, R , _ x-. � F � ' -a � r i4
Prepaid Expenses
2,430 G480 7,809
Cash Special Reserves
7,764 G230 5,787
Page 33 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(G) SEWER
Balance Sheet
Liabilities
Accrued Liabilities 9,425 G601 101,530
Due To Other Funds G630 36,446
77
Unreserved Fund Balance Appropriated 796,192 G910 434,337
Unreserved Fund Balance Unappropriated 719,621 G911 156,193
Page 34 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(G) SEWER
Results of Operation
Page 35 OSC Municipality Code 500342300000
Revenues
Special Assessments,
153,219
G1030 152,324
I�L.�Reat.�?roperty�'a7ce�s.___ � �..�` �d�, �� � Vx'-'WAM.
T�'t"". .. .:.
.� ... , g_�.d � �"`�.•, :�..�. _.>.._ .153;2'I
.!....5,324
Sewer Rents
1,297,319
G2120 1,223,891
Interest & Penalties On Sewer Accts
14,409
G2128 8,975
I' E.��.F � ��t•L�"n,5,.T; �21g}...
. ..,. �iiH#:{.IF��r� �� ..> .�` ....
�... i�FF'
... ..� a.. ... a3e�4 n• !. �
".,. •@'m
Misc Revenue, Other Govts
1,284
G2389
Interest And Earnings
54,731
G2401 3,252
�( �'a _ F �� l V� rn @ � � ���•.
�i M �`Y! i��i�r{i Q •: '�
�I;,�� ,i1lA��A1f
.s......................w,.
...1 4 • 4���
@.Sx�'
Refunds of Prior Year's Expenditures
-7,782
G2701 1,011
TT 3�H
K MM
Page 35 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(G) SEWER
Results of Operation
Expenditures
Administration -Contractual 50,983 G17104 36,596
Sewer Administration; Pers Sery
G90108
22,415
G81101
21,777
r ;, s;
TQAL. Seuur lldtnintstratlart..:..._ ..�:; _ A�4i .*I
Sanitary Sewers, Pers Sery
G90408
95,467
G81201
61,973
Sanitary Sewers, Equip & Cap Outlay
422
27,179
G81202
13,147
Sanitary Sewers, Contr Expend
349
225,160
G81204
237,261
Joint Sewer Project, Contr Expend
1,287,505
G81504
1,485,569
State Retirement, Empl Bnfts
Social Security, Empi Bnfts
Worker's Compensation, Empl Bnfts
Life Insurance, Empi Bnfts
Unemployment Insurance, Empi Bnfts
Disability Insurance, Empi Bnfts
Hospital & Medical (dental) Ins, Empl Bnft
7,425
G90108
2,430
8,957
G90308
3,724
2,321
G90408
2,259
206
G90458
107
422
G90508
140
605
G90558
349
18,962
G90608
17,246
�I✓' :A�.ntW 3,, ° .3 a.'.. A �Y.'u'. B
�� .i Rt.'R
2" .:' eY,.:;
�.. x, t"
"�!^!'�7
Transfers, Other Funds
259,766
G99019
280,633
Transfers, Capital Projects Fund
G99509
153,502
id?TI�L aifrtgTra PZPcry..; ,r i ..
�e
';� BQtite�a1(/ii .� .,i 'uw5:z..�.e(wex..'.�. 1 ..�...., o�.ry{ c" �'`��i5?.,.D3•;v.!n x.,..�a..s
Page 36 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(G) SEWER
Changes in Fund Equity
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity- Beginning of Year
2,017,770
G8021 1,523,577
Restated Fund Equity - Beg of Year
2,017,770
G8022 1,523,577
ADD - REVENUES AND OTHER SOURCES
1,513,180
1,389,453
DEDUCT - EXPENDITURES AND OTHER USES
2,007,373
2,316,713
Fund Equity - End of Year
1,523,577
G8029 596,317
Page 37 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(G) SEWER
Budget Summary
NINO Wi„IY� .. 4, s H:u.x. ,,, _ � v G,S.s,: _., xaZ�. S,,.A ,✓6:
�13>aw,B „,9x _. ;_
,�3 M T 3%RS.�, y
ki i ^ // �
Estimated Revenues
Est Rev - Real Property Taxes
145,362
G1049N
152,104
Est Rev - Real Property Tax Items
7,422
G1099N
0
Est Rev - Departmental Income
1,295,000
G1299N
1,640,226
Est Rev -Intergovernmental Charges
0
G2399N
0
Est Rev - Use of Money And Property
40,000
G2499N
5,000
Appropriated Fund Balance 796,192 G599N 434,337
Page 38 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(G) SEWER
Budget Summary
Appropriations
App - General Government Support
45,553
G1999N
47,185
App - Home And Community Services
1,937,590
G8999N
1,862,858
App - Employee Benefits
20,200
G9199N
39,300
App - Interfund Transfer
280,633
G9999N
282,324
Page 39 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(H) CAPITAL PROJECTS
Balance Sheet
Assets
Cash In Time Deposits 575,488 H2O1 313,208
Accounts Receivable H380 15,725
State & Federal Receivables
756 H410
a
Page 40 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
- For the Fiscal Year Ending 2010
(H) CAPITAL PROJECTS
Balance Sheet
Unreserved Fund Balance Unappropriated -8,433 H911 -365,402
Page 41 OSC Municipality Code 500342300000
Liabilities
Accrued Liabilities
7,175
H601
�� ard�labi.�iti o 3'` " i���• ��'� �� �5�3r"� a � -- � s`� ^ �+ h�3 �
� � �%0 ��°�` �l�a as�9�
•.�,.,:v ::a'�.w.a��?�'....su: �r a>�"�...a o-°'. �'
�.�.:�. �wsm�:�..� `s. ..o
a '}N�
...�zu> �Z..,;.&�=_,„._,
i`" �� ,<�5'� �aa�. ._. > N'�,�'��;'�'.,.
«�
Bond Anticipation Notes Payable
424,000
H626 381,600
Due To Other Funds
153,502
H630 312,735
Unreserved Fund Balance Unappropriated -8,433 H911 -365,402
Page 41 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(H) CAPITAL PROJECTS
Results of Operation
�v�/{ (��Pz�Flt�t�ifP+"'����4�VMI� :: 4 ti� � 1-�kts'.: d.�\. �\�•�''” y��3� �4� �P4.....,_�...� ,msµ 4+
Page 42 OSC Municipality Code 500342300000
Revenues
Interest And Earnings
1,936 H2401 1,753
£ ..^'.,�_ _`aFC'+"�z`.m` �.£ww ... 3 .'�e�.`S ?"�`�"�.(�S'""' yrs'^'H<ro»-`�`w-.�.•�T''"a�'"32&i�e^ � 3" , Sm
Refunds of Prior Year's Expenditures
277,672 H2701
Grants From Local Governments
42,800 H2706 15,725
�,,.......,..___.,.«:.nuaua��.��s�....�...............:::s.�d.3�a.�..%..."- � .wz,.,..w,........,..,,....:, .a..awe'.�,.s.,.::,....,a•,«a......,........�e�.,.:mm'i�„�mau:�ama,.
...S..a-�-�.a„w. ��"��• *»��..� ., ....
St Aid, Trans Cap Grants (spec)
756 H3597 795
Fed Aid - Cap Projects
936 H4097
7Mti
TOTIil�Feai��'titt'�E
�,..�.�,,-„�•,._._�,��.������� ��,��.&,���,
.,.,�.�� ����� ..",�;��,.�,aF.._.w_�.»,;;
��� � � � � �� � ����' `'
%Q'i"Aka�#9Y�tit+�s �:•, ��� �¢�'�, �?, �� �
�±� � � �; � ..�:� .� ���1�27
Interfund Transfers
21,400 H5031 190,627
Serial Bonds
1,125,000 H5710
Bans Redeemed From Appropriations
61,482 H5731
iQTAIm FSE 1kttm t ii$r s^� F ...;
...,,......«...y��".a,:a:.,..__.,,..:.m.:�.,.. �k,..�ww..«..«..............._..c..F.:?d,�a.•iib?,S:�
..,..y�.,,,.�... .. ...... ... .«-. '- aha „' .i���'.: a�. ,,: s�...:a.,..:. •, ••,�•"�`�. ^..w�«�.:•3., ....,` .. � i e�'.'. .�,�.L'
�v�/{ (��Pz�Flt�t�ifP+"'����4�VMI� :: 4 ti� � 1-�kts'.: d.�\. �\�•�''” y��3� �4� �P4.....,_�...� ,msµ 4+
Page 42 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(H) CAPITAL PROJECTS
Results of Operation
Expenditures
Traffic Control, Equip & Cap Outlay 116,481 H33102
Other Transportation, Equip & Cap Outlay H59892 461,415
Parks, Equip & Cap Outlay 22,136 H71102
Sewer, Equip & Cap Outlay H81972
a
o
Water Capital Projects, Equip & Cap Outlay 724 H83972
Transfers, Other Funds H99019 104,454
OTi�zCtFi ti&6df'° :„ �:
�;I�iL CI<etalliExpiandituresxAnd�ptfi �y
Page 43 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(H) CAPITAL PROJECTS
Changes in Fund Equity
, , .
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity - Beginning of Year
-1,340,930
H8021
-8,433
Prior Period AdJ.- Increase In Fund Equity
-60,144
H8012
' Restated Fund Equity - Beg of Year
-1,401,074
H8022
-8,433
ADD - REVENUES AND OTHER SOURCES
1,531,982
208,900
DEDUCT - EXPENDITURES AND OTHER USES
139,341
565,869
Fund Equity - End of Year
-8,433
H8029
-365,402
4
4
Page 44 OSC Municipality Code 500342300000
4
I�
TOWN OF Ithaca
Annual Update Document
.For the Fiscal Year Ending 2010
(K) GENERAL FIXED ASSETS
Balance Sheet
Assets
Land
186,552
K101
186,552
Buildings
4,001,313
K102
4,001,313
Improvements Other Than Buildings
365,992
K103
365,992
Machinery & Equipment
3,604,746
K104
3,331,269
Construction Work In Progress
1,546,636
K105
188,747
Infrastructure
6,411,528
K106
7,919,416
Page 45 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(K) GENERAL FIXED ASSETS
Balance Sheet
All 5M
Fund Equity
Total Non -Current Govt Assets 16,116,767 K159 15,993,289
Page 46 OSC Municipality Code 500342300000
(SF) FIRE PROTECTION
Balance Sheet
Assets
Cash In Time Deposits
4
n
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
1,017,136 SF201 409,370
Page 47 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(SF) FIRE PROTECTION
Balance Sheet
Liabilities
Accrued Liabilities
500,767 SF601 396,240
Unreserved Fund Balance Appropriated 260,228 SF910 -35,637
u t�lSe�,yi'tlCti� i3alan .� �!'��(�t�^•� �a `ast' »v"�" ...,:„_.�x'� .! 31»r°' W ., ' 1 z 26it+r; . ,y t 5 \a� e's7�t .
Unreserved Fund Balance Unappropriated 256,141 SF911 48,767
Page 48 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(SF) FIRE PROTECTION
Results of Operation
Revenues
Real Property Taxes 3,594,376 SF1001 3,033,662
TCi�'l�ar ��1.^ �fi�iFlt���• � :3s9£t b . � s� �� m� �m`� �a , ix � �` �43��ii �ifZT+ jj�..
Page 49 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(SF) FIRE PROTECTION
Results of Operation
Expenditures
Fire Protection, Contr Expend
3,282,786 SF34104 3,536,782
:.mom, ,,...u.«M.,,a.,.�_........ � ,.mm� �.w:s:•, �'s�:.%`.�,.��:..
Page 50 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(SF) FIRE PROTECTION
Changes in Fund Equity
Page 51 OSC Municipality Code 500342300000
WIN;
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity - Beginning of Year
154,520 SF8021
516,369
Restated Fund Equity - Beg of Year
154,520 SF8022
516,369
ADD - REVENUES AND OTHER SOURCES
3,644,635
3,033,544
DEDUCT - EXPENDITURES AND OTHER USES
3,282,786
3,536,782
Fund Equity - End of Year
516,369 SF8029
13,131
Page 51 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(SL) LIGHTING
Balance Sheet
.gig. _. ...
Assets
Cash In Time Deposits 14,445 SL201 9,985
Page 52 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(SL) LIGHTING
Balance Sheet
Liabilities
Accrued Liabilities SL601 299
Unreserved Fund Balance Unappropriated 7,987 SL911 8,686
Page 53 OSC Municipality Code 500342300000
(SL) LIGHTING
Results of Operation
Revenues
Real Property Taxes
Interest And Earnings
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
12,662 SL1001 7,491
98 SL2401 45
Page 54 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(SL) LIGHTING
Results of Operation
Expenditures
Street Lighting, Contr Expend
11,726 SL51824 12,296
728 top 11, 1Z, SII
Page 55 OSC Municipality Code 500342300000
(SL) LIGHTING
Changes in Fund Equity
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity- Beginning of Year
Restated Fund Equity- Beg of Year
ADD - REVENUES AND OTHER SOURCES
DEDUCT - EXPENDITURES AND OTHER USES
Fund Equity- End of Year
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
13,411 SL8021
14,445
13,411 SL8022
14,445
12,760
7,536
11,726
12,296
14,445 SL8029
9,685
Page 56 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(TA) AGENCY
Balance Sheet
ORM 60,
y
Assets
Cash 96,008 TA200 91,699
Page 57 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document -
For the Fiscal Year Ending 2010
(TA) AGENCY
Balance Sheet
Liabilities
Due To Other
3,341 TA630
}F�undsyy •M,(
Consolidated Payroll
7,942 TA10
4,803
Disability Insurance
641 TA19
657
Group Insurance
5,923 TA20
1,718
Guaranty & Bid Deposits
140 TA30
2,327
Other Funds (specify)
78,021 TA85
82,194
Page 58 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(TE) PRIVATE PURPOSE TRUST
Balance Sheet
Assets
Cash TE200 9,034
Page 59 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(TE) PRIVATE PURPOSE TRUST
Balance Sheet
Fund Equity
Net Assets -Restricted For Other Purposes TE923 9,034
Page 60 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(TE) PRIVATE PURPOSE TRUST
Results of Operation
Revenues
Interest And Earnings TE2401 15
Other Revenue TE2770 12,268
Additional Description Dissolved Cemetery Funds
Page 61 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(TE) PRIVATE PURPOSE TRUST
Results of Operation
x.
Expenditures
Other Gen Gov Support, Contr Expend TE19894 3,224
Mise Home & Comm Serv, Cont Expend
TE89894 25
TO. At. DotiiE Expenditures ie ►d tl a E. g ' _ 3,249
Page 62 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(TE) PRIVATE PURPOSE TRUST
Changes in Fund Equity
ON
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity Beginning of Year TE8021
Restated Fund Equity - Beg of Year TE8022
ADD - REVENUES AND OTHER SOURCES 12,283
DEDUCT - EXPENDITURES AND OTHER USES 3,249
Fund Equity End of Year TE8029 9,034
Page 63 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(V) DEBT SERVICE
Balance Sheet
^- x
Assets
Cash In Time Deposits 84,884 V201 94,092
Page 64 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(V) DEBT SERVICE
Balance Sheet
ode'ik@wrl
Fund Equity
Unreserved Fund Balance Unappropriated 84,884 V911 94,092
Page 65 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(V) DEBT SERVICE
Results of Operation
Page 66 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(V) DEBT SERVICE
Results of Operation
�.. l Z.
009
,...Y �9
Expenditures
Fiscal Agents Fees, Contr Expend
Debt Principal, Serial Bonds
Debt Principal, Bond Anticipation Notes
1,944 V13804 2,200
577,000 V97106 638,000
61,482 V97306
Debt Interest, Serial Bonds 238,802 V97107 191,984
Page 67 OSC Municipality Code 500342300000
TQTAI. Exp�nditur4,ak
L
(i
LTi
70Detafi: Expenditures Aitd tier i tees8"19,228
, 832.184
Page 67 OSC Municipality Code 500342300000
(V) DEBT SERVICE
Changes in Fund Equity
ANALYSIS OF CHANGES IN FUND EQUITY
Fund Equity- Beginning of Year
Restated Fund Equity - Beg of Year
ADD - REVENUES AND OTHER SOURCES
DEDUCT - EXPENDITURES AND OTHER USES
Fund Equity - End of Year
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
54,112 V8021
84,884
54,112 V8022
84,884
910,000
841,392
879,228
832,184
84,884 V8029
94,092
Page 68 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(W) GENERAL LONG-TERM DEBT
Balance Sheet
M�ww,,Xwww
Assets
Total Non -Current Govt Liabilities 4,925,515 W129 4,299,480
Page 69 OSC Municipality Code 500342300000
TOWN OF Ithaca
Annual Update Document
For the Fiscal Year Ending 2010
(W) GENERAL LONG-TERM DEBT
Balance Sheet
Page 70 OSC Municipality Code 500342300000
TOWN OF Ithaca
Financial Comments
For the Fiscal Year Ending 2010
Page 71
TOWN OF Ithaca
Statement of Indebtedness
For the Fiscal Year Ending 2010
Nater and Other Purposes Exempt From Constitutional Debt Limit
3ond No. 2003000001
EDPCODE
Amount
Amount
Month and Year of Issue
2/12/200
,Purpose of Issue
12/29/200
purpose of Issue
Durrent Interest Rate
iblic Imp
(Serial) Bond
tiurrent Interest Rate
2P18671
670,00
3.9500
Dutstanding Beginning of Year
21318671
Issued During the Fiscal Year
569,000
'rior Year Adjustment
(do not include renewals here)
21318673
-ssued During the Fiscal Year
(do not include renewals here)
(do not include renewals here)
P18673
:)utstanding End of the Fiscal Year
0
'aid During the Fiscal Year
Final Maturily Date
2/12/201
(do not include renewals here)
21318675
71,00
Outstanding End of the Fiscal Year
21318677
498,00
sinal Maturi!y Date
12/29/201
3ond No. 2009000002
EDPCODE
Amount
Amount
Month and Year of Issue
2/12/200
,Purpose of Issue
10/1/200
,Durpose of Issue
Durrent Interest Rate
Pub Imp
(Serial) Bond
,urrent Interest Rate
2P18671
670,00
.031
Dutstanding Beginning of Year
2P18671
Issued During the Fiscal Year
1,125,00
'Prior Year Adjustment
(do not include renewals here)
21318673
Jssued During the Fiscal Year
(do not include renewals here)
(do not include renewals here)
2P18673
:)utstanding End of the Fiscal Year
21318677
'aid During the Fiscal Year
Final Maturily Date
2/12/201
(do not include renewals here)
2P18675
60,00
Dutstanding End of the Fiscal Year
2P18677
1,065,00
=final Maturi Date
10/1/202
Bond No. 2004000001
EDPCODE
Amount
'Month and Year of Issue
2/12/200
,Purpose of Issue
provement (Serial) Bd
Durrent Interest Rate
3.8800
Dutstanding Beginning of Year
2P18671
670,00
Prior Year Adjustment
0
Issued During the Fiscal Year
(do not include renewals here)
21318673
'Paid During the Fiscal Year
(do not include renewals here)
2P18675
67,00
:)utstanding End of the Fiscal Year
21318677
603,000
Final Maturily Date
2/12/201
Page 72 OSC Municipality Code 500342300000
TOWN OF Ithaca
Statement of Indebtedness
For the Fiscal Year Ending 2010
Nater and Other Purposes Exempt From Constitutional Debt Limit
3ond No. 2004000002
EDPCODE
Amount
Month and Year of Issue
5/15/200
'ur ose of Issue
provement (Serial) Bd
;urrent Interest Rate
4.3460
outstanding Beginning of Year
213118671
1,500,00
3rior Year Adjustment
0
°ssued During the Fiscal Year
(do not include renewals here)
2P18673
0
'aid During the Fiscal Year
(do not include renewals here)
2P18675
100,00
Outstanding End of the Fiscal Year
2P18677
1,400,00
sinal Maturi Date
5/15/202
3ond No. 2000000004
EDPCODE
Amount
Vlonth and Year of Issue
7/15/1991
-3ur ose of Issue
Public Im rovemen
:.urrent Interest Rate
.06625
Dutstanding Beginning of Year
2P18671
500,00
''rior Year Adjustment
0
,Jssued During the Fiscal Year
(do not include renewals here)
2P18673
0
Said During the Fiscal Year
(do not include renewals here)
21318675
250,00
Dutstanding End of the Fiscal Year
213118677
250,00
sinal Maturi Date
7/15/2011
3ond No. 2005000002
EDPCODE
Amount
Month and Year of Issue
9/28/2005
,Purpose of Issue
fill Water Tank & Main
Durrent Interest Rate
3.600
Dutstanding Beginning of Year
213118671
350,00
Prior Year Adjustment
0
Issued During the Fiscal Year
(do not include renewals here)
21318673
0
'Paid During the Fiscal Year
(do not include renewals here)
2P18675
50,000
Dutstanding End of the Fiscal Year
2P18677
300,000
'Final Maturi Date
9/28/2015
'Total Bond
Amount
Outstanding Beginning of Year
4,714,00
Prior Year Adjustment
Issued During Fiscal Year
'Paid During Fiscal Year
598,00
Outstanding End of Year
4,116,00
Page 73 OSC Municipality Code 500342300000
TOWN OF Ithaca
Statement of Indebtedness
For the Fiscal Year Ending 2010
Indebtedness Not Exempt From Constitutional Debt Limit
3ond Anticipation Note No. 2009000001
EDPCODE
Amoun
Month and Year of Issue
'Prior Year Adjustment
6/23/200
-3urpose of Issue
Varren Road Walkwa
Current Interest Rate
Outstanding End of Year
.0200
Outstanding Beginning of Year
P18761
424,00
Prior Year Adjustment
issued During the Fiscal Year
do not include renewals here
P18763
0
'aid During the Fiscal Year
do not include renewals here)
2P18765
42,40
Outstanding End of the Fiscal Year
2P18767
381,60
Final Maturity Date
6/23/2011
Total Bond Anticipation Note
Amoun
Outstanding Beginning of Year
424,00
'Prior Year Adjustment
0
,Issued During Fiscal Year
Paid During Fiscal Year
42,40
Outstanding End of Year
381,60
Bond Anticipation Notes Redeemed
From Bond Proceeds During Fiscal Year 2P18885
Page 74 OSC Municipality Code 500342300000
TOWN OF Ithaca
Statement of Indebtedness
For the Fiscal Year Ending 2010
ndebtedness Not Exempt From Constitutional Debt Limit
3ond No. 2006000002
EDPCODE
Amoun
Aonth and Year of Issue
'rior Year Adjustment
1/7/200
purpose of Issue
0
Public Works Facilit
.'urrent Interest Rate
Jutstanding End of Year
3.7500
)utstanding Beginning of Year
2P18771
80,00
'rior Year Adjustment
"ssued During the Fiscal Year
(do not include renewals here)
2P18773
0
'aid During the Fiscal Year
(do not include renewals here)
2P18775
40,000
Outstanding End of the Fiscal Year
213118777
40,00
sinal Maturity Date
1/7/2011
Total Bond
Amoun
)utstanding Beginning of Year
80,00
'rior Year Adjustment
0
ssued During Fiscal Year
0
'aid During Fiscal Year
40,00
Jutstanding End of Year
40,00
Total of All Indebtedness
Includes Total of Bonds and Notes - Exempt and Not Exempt
Fotal Bond
Amoun
Dutstanding Beginning of Year
5,218,00
,prior Year Adjustment
0
ssued During Fiscal Year
0
'aid During Fiscal Year
680,40
Outstanding End of Year
4,537,60
Page 75 OSC Municipality Code 500342300000
Page 76 OSC Municipality Code 500342300000
TOWN OF Ithaca
Schedule of Time Deposits and Investments
For the Fiscal Year Ending 2010
EDP Code
Amount
CASH:
On Hand
9Z2001
$925.00
Demand Deposits
9Z2011
$820,381.00
Time Deposits
9Z2021
$5,199,731.00
Total
$6,021,037.00
COLLATERAL:
- FDIC Insurance
9Z2014
$250,000.00
Collateralized with securities held in
possession of municipality or its agent
9Z2014A
$7,543,386.00
Total
$7,793,386.00
INVESTMENTS:
- Securities (450)
Book Value (cost)
9Z4501
$0.00
Market Value at Balance Sheet Date
9Z4502
$0.00
Collateralized with securities held in
9Z4504A
$0.00
possession of municipality or its agent
- Repurchase Agreements (451)
Book Value (cost)
9Z4511
$0.00
Market Value at Balance Sheet Date
9Z4512
$0.00
Collateralized with securities held in
9Z4514A
$0.00
possession of municipality or its agent
Page 76 OSC Municipality Code 500342300000
Bank
Account
Number
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-2604
*****-8038
TOWN OF Ithaca
Bank Reconciliation
For the Fiscal Year Ending 2010
Include All Checking, Savings and C.D. Accounts
Page 77 OSC Municipality Code 500342300000
Add:.
Less:
Adjusted
Bank
Deposit
Outstanding
Bank
Balance
In Transit
Checks
Balance
$1,605,276
$0
$0
$1,605,276
$579,002
$0
$0
$579,002
$301,963
$0
$0
$301,963
$590,673
$0
$0
$590,673
$27,190
$0
$0
$27,190
$1,133,333
$0
$0
$1,133,333
$285,267
$0
$0
$285,267
$303,890
$0
$0
$303,890
$5,071
$0
$0
$5,071
$34,179
$0
$0
$34,179
$187,364
$0
$0
$187,364
$86,594
$0
$0
$86,594
$100,807
$0
$0
$100,807
$409,370
$0
$0
$409,370
$4,482
$0
$0
$4,482
$11,791
$0
$0
$11,791
$4,573
$0
$0
$4,573
$10,738
$0
$0
$10,738
$36,761
$0
$0
$36,761
$270
$0
$0
$270
$2,468
$0
$0
$2,468
$15,813
$0
$0
$15,813
$94,092
$0
$0
$94,092
$165,295
$0
$0
$165,295
$9,985
$0
$0
$9,985
$820,381
$0
$815,578
$4,803
Page 77 OSC Municipality Code 500342300000
TOWN OF Ithaca
Bank Reconciliation
For the Fiscal Year Ending 2010
Include All Checking, Savings and C.D. Accounts
Bank
Add:
Account
Bank Deposit
Number
Balance In Transit
*****-2604
$9,034
Total Adjusted Bank Balance
2etty Cash
Adjustments
9ZCASH *
Total Cash
9ZCASHB *
Total Cash Balance All Funds
* Must be equal
Less:
Adjusted
Outstanding
Bank
Checks
Balance
$0
$9,034
$6,020,086
$925.00
$.00
9ZCASH *
$6,021,011
9ZCASHB *
$6,021,036
Page 78 OSC Municipality Code 500342300000
TOWN OF Ithaca
Local Government Questionnaire
For the Fiscal Year Ending 2010
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 79
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?
Yes
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 79
TOWN OF Ithaca
Employee and Retiree Benefits
For the Fiscal Year Ending 2010
Total Full Time Employees:5
4,��9
Total Part Time Employees:
2
-
Account
Description
Total
# of Full
# of Part
# of Retirees
Code
Expenditures
Time
Time
(All Funds)
Employees
Employees
90108
State Retirement System
$201,788.00
5
90158
Police and Fire Retirement
90258
Local Pension Fund
90308
Social Security
$235,886.00
68
61
90408
Worker's Compensation
$69,321.00
65
5
Insurance
90458
Life Insurance
$5,480.00
48
1
90508
Unemployment Insurance
$10,442.0
90558
Disability Insurance
$17,296.00
49
E
90608
Hospital and Medical
$874,883.0
50
1
(Dental) Insurance
90708
Union Welfare Benefits
90858
Supplemental Benefit Payment to
Disabled Fire Fighters
9189
Other Employee Benefits
Total
$1,415,096.0
Computed Total From Financial
$1,415,096
Section (comparative purposes only)�>
Page 80 OSC Municipality 500342300000
TOWN OF Ithaca
Energy Costs and Consumption
For the Fiscal Year Ending 2010
Energy Type Total Total Volume Units Of Alternative
Expenditures Measure Units Of
Measure
asoline
$52,46
22,80
gallons 11
Diesel Fuel
$58,511
23,700
gallons 11
Fuel Oil
0
gallons
Natural Gas
$20,87
20,03
cubic feet 11
Electricity
$132,37
1,869,87
kilowatts JkWh
oal
0
1
tons 11
Page 81 OSC Municipality 500342300000
TOWN OF Ithaca
Schedule of Other Post Employment Benefits (OPER)
For the Fiscal Year Ending 2010
Annual OPEB Cost and Net OPEB Obligation
Type of Other Post Employment Benefits Plan
Single -Employer Defined Benefits
Annual Required Contribution(ARC)
$362,246.00
Interest on Net OPEB Obligation
$12,902.00
Adjustment to Annual Required Contribution
($12,804.00)
Annual OPEB Expense
$362,344.00
Less: Actual Contribution Made
$40,406.00
Increase in Net OPEB Obligation
$321,938.00
Net OPEB Obligation - beginning of year
$322,544.00
Net OPEB Obligation - end of year
$644,482.00
Total Other Post Employment Benefits as reported in Accounts 683 in
Financial Section, Current Fiscal Year
Percentage of Annual OPEB Cost Contributed (Actual Contribution
11.15%
Made/Annual OPER Cost)
Funded Status and Funding Process
Actuarial Accrued Liability(AAL)
$3,302,265.00
Less: Actuarial Value of Plan Assets
$0.00
Unfunded Actuarial Accrued Liability(UAAL)
$3,302,262.00
Funded Ratio(Actuarial Value of Plan Assets/AAL)
0.0000
Annual Covered Payroll (of active employees covered by the plan)
$2,747,318.00
UAAL as Percentage of Annual Covered Payroll
120.20%
Other OPEB Information
Date of most recent actuarial valuation
12/31/2009
Actuarial method used
Alternative
Assumed rate of return on investments discount rate
4.00%
Amortization period of UAAL(in years)
29.00
Page 82 OSC Municipality 500342300000
CERTIFICATION OF CHIEF FISCAL OFFICER
I, Herbert J. 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 12/31/2010
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 12/31/2010
and filed by means of electronic data transmission.
Michael T. Solvig
Name of Report Preparer if different
than Chief Fiscal Officer
(607) 273-1721
Telephone Number
03/31/2011
Date of Certification
Herbert J. Engman
Name
Town Supervisor
Title
215 N. Tioga Street
Official Address
(607) 273-1721
Official Telephone Number
Page 83 Municipality Code 500342300000
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
NOTE I - 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 the Chief Fiscal Officer as specified in New York State
Town Law.
The Town provides the following municipal services: fire protection, transportation (streets, highway and
transportation infrastructures)), walkways, trails, 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) Statements 14 and 39:'
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 Statements 14 and 39, including legal standing, fiscal dependency, and financial accountability.
Based on the application of these criteria, the following is a brief review of certain entities considered in
determining the Town of Ithaca reporting entity.
The following are activities undertaken jointly with other municipalities and are excluded from the
financial statements. See Note IV for additional disclosure regarding Joint Ventures.
Page 1
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
1) The 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.
This joint venture was formed for the production and distribution of drinking water.
2) The Ithaca Area Wastewater Treatment Plant is a joint venture involving the Towns of Ithaca and
Dryden, and the City of Ithaca. This joint venture was formed for the treatment of wastewater.
B. Basis of Presentation - Fund Accountin
_ 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 Funds - 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.
GENERAL PART-TowN FUND - 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 - used to account for the proceeds of specific revenues sources that are
legally restricted to expenditures for specified purposes. Special Revenue Funds include the
following:
GENERAL PART-TowN HIGHWAY FUND - used to account for revenues and expenditures for
part -town (outside of the Village of Cayuga Heights) transportation infrastructure purposes.
WATER 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 - established by State Statutes to account for revenues derived from sewer rents
and benefited assessments and used for related operating expenses and debt retirement.
A
Page 2
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
LIGHTING DISTRICT FUND - used to account 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. Street lighting in nine separate lighting districts is
provided within the Town.
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.
CAPITAL PROJECTS FUND - used when accounting for capital improvements financed from
current monies transferred from reserved and unreserved funds, Federal, and. State grants and
proceeds of obligations. 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. As of December
31, 2010, the Town of Ithaca had four active capital projects funds.
DEBT SERVICE FUND - accounts for the accumulation of those resources transferred or earned for
the payment of principal and interest on long-term debt on scheduled due dates. Annual principal
and interest payments due on serial bonds are transferred from the General Townwide, 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.
b. Fiduciary Funds - are those used to account for assets held by the local government in a trustee
or custodial capacity.. Fiduciary Funds include the following:
TRUST AND AGENCY FUND - used to account for those funds held in custody and subsequent
distributions, transmittal or release to other governments, individuals or to other funds.
INLET VALLEY CEMETERY FUND - this private -purpose expendable trust fund is used to account
for arrangements for the maintenance of the Inlet Valley. Cemetery. The Inlet Valley Cemetery
Association was dissolved in 2010, upon which ownership of the cemetery devolved to the Town
in accordance with State Statutes.
2. 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.
GENERAL FIXED ASSETS ACCOUNT GROUP - accounts for land, buildings, improvements other than
buildings, machinery & equipment, and construction in progress. These assets are usually for general
government services.
GENERAL LONG-TERM DEBT ACCOUNT GROUP - . accounts 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
Page 3
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
liabilities, and any vested or unpaid accumulated employee benefits to be provided for in future
budgets.
C. Basis of Accountine/Measurement Focus
Basis of accounting refers to when revenues and expenditures and the related assets and liabilities are
recognized in the accounts and reported in the financial statements. Basis of accounting relates to the
timing of the measurements made, regardless of the measurement focus. Measurement focus is the
determination of what is measured. (e.g. expense or revenue)
i
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.
Expenditures are recorded when incurred except that:
1. 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.
2. Principal and interest on indebtedness are not recognized as expenditures until due.
3. Compensated absences, such as vacation and sick leave which vests or accumulates, are charged as
expenses when paid. See Note I -J (Pg 6).
4. Pension costs are recognized as an expense when billed by the New York State and Local Employee's
Retirement System. See Note III -B-1 (Pg 10).
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, 2010, 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, rather than individual Governmental Funds.
D. Property Taxes
Town real property taxes are levied annually on January 1, and become a lien on that date. Property
owners can elect to pay their taxes using one of two options. Taxpayers may elect to pay their bill in two
installments equal to one-half the total bill, plus a 2.5 percent processing fee. If the installment option is
selected, the first payment is due between January 1 and January 14, without penalty, or between January
15 and January 20 with 1 percent interest (election to pay in installments ceases January 20). The second
installment is due on or before July 1, payable to the County Division of Budget and Finance.
Page 4
TOWN OF ITHACA
NOTES TO FINANCIAL. STATEMENTS
For the Year Ended December 31, 2010
Taxpayers may elect to pay their tax bill in full. Using this method, taxes are collected during the period
January 1 st to January 31 st, at face value and from February 1 st to March 31 st, with interest added. The
Town Receiver of Taxes collects all real estate taxes for Town and County purposes. The Town Receiver
of Taxes distributes the collected tax money to the Town Supervisor prior to distributing the balance
collected to the County on June 1st. 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.
E. Budeetary 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 1st. 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 2010 Town Budget was adopted November 5, 2009
under Board Resolution No. 2009-199.
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 is incurred. For year ending December
31, 2010, no budgetary encumbrances were outstanding. In the. interest of accurately monitoring,
budgeting and maintaining an adequate operating fund balance in all funds it is the fiscal practice not
to encumber unused appropriations into the ensuing years budgeted operations.
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 5
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
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. Taxpayer funds are invested in interest
earning savings accounts and/or certificates of deposits. It is both practice and policy that the Town of
Ithaca does not invest taxpayer funds in the stock market, in any mutual funds, index funds or any third
party investment or securities. For year ending December 31, 2010 the Town of Ithaca has no cash
invested in certificates of deposit.
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 of Ithaca is exempt from Federal Unemployment Insurance Tax.
J. Compensated Absences
Employees accrue (earn) vacation leave based on the number of years employed up to a maximum of 20
' days a year. Upon separation from service, employees are paid for unused vacation time. Employees
accrue (earn) sick leave at the rate of one day per month and may accumulate such credits up to a total of
120 days. (The NYS Employee's 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.
_ Accrued vacation and accumulated sick leave is recorded in governmental funds as a long-term liability in
the General Long -Term Debt Account Group if payable from future financial resources, or as a fund
liability and expense if payable from current resources. The liability for compensated absences increased
- by $11,965 during the year to $143,480 as reported in the General Long -Term Debt Account Group.
Page 6
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
K. Post Employment Benefits
Plan Description. The Town of Ithaca administers a single -employer defined benefit healthcare plan
("the Retiree Health Plan"). The plan provides lifetime healthcare insurance for eligible retirees and their
spouses through the Town's group health insurance plan, which covers both active and retired members.
The Town pays a portion of retiree's premiums for healthcare insurance based on the number of years of
service to the Commission at the time of retirement.
In addition, retiring employees can convert unused sick and vacation time to offset portions of healthcare
premiums that are the retiree's. responsibility. The Town tracks the accumulated balances and makes
premium payments on behalf of the retirees until the balances are exhausted.
The Retiree Health Plan does not issue a publicly available financial report.
Funding Policy. The Town contributes a portion of the retiree's healthcare premium according to the
following schedule:
Years of
Service
30 and over
25-29
15-24
5-14
less than 5
Town
Contribution
75.0%
50.0%
35.0%
25.0%
0.0%
For the year ended December 31, 2009, the Town of Ithaca contributed $40,406 to the plan.
Annual OPEB Cost and New OPEB Obligation. The Town's annual other postemployment benefit
(OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC).
The Town of Ithaca has elected- to calculate the ARC and related information using, the alternative
measurement method permitted by GASB' Statement 45 for employers in plans with fewer- than one
hundred total plan members. The ARC represents a level of funding that, if paid on an ongoing basis; is
projected to cover normal cost each year and to amortize any unfunded actuarial liabilities (or funding
excess) over a period not to exceed thirty years.
Funded Status and Funding Progress. As of December 31, 2009, the actuarial accrued liability for
benefits was $3,302,265, all of which was unfunded. The covered payroll (annual payroll of active
employees covered by the plan) was $2,747,318 and the ratio of the unfunded actuarial accrued liability
to the covered payroll was 120.2 percent.
The projection of future benefits payments for an ongoing plan involves estimates of the value of reported
amounts and assumptions about the probability of occurrence of events far into the future. Examples
include assumptions about future employment, mortality, and the healthcare cost trend. Amounts
determined regarding the funded status of the plan and the annual required contributions of the employer
are subject to continual revision as actual results are compared with post expectations and new estimates
are made about the future.
Page 7
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
Methods and Assumptions. Projections of benefits for financial reporting purposes are based on the
substantive plan (the plan as understood by the employer and plan members) and include the types of
benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs
between the employer and plan members to that point.
The unfunded actuarial accrued liability is being amortized as level percentage of projected payroll on an
open basis. The remaining amortization period at December 31, 2009 was twenty-nine years.
In addition, retiring employees can convert a portion of unused sick and vacation time to offset portions
of healthcare premiums that are the retiree's responsibility. The Town tracks the accumulated balances
and makes premium payments on behalf of the retirees until the balances are exhausted. The Town
estimates its liability based on an analysis of accumulated sick and vacation time for current retirees and
employees who have reached retirement age (55). At December 31, 2009 there were five retirees
spending down a cumulative balance of $75,389 and twelve employees who had reached retirement age
with a cumulative balance of $193,006. The total liability was $268,395 at December 31, 2009. The
Town calculates this liability separately from its OPEB liability under GASB Statement 45.
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.
Deferred Compensation Plan: PEBSCO / Nationwide Retirement Solutions
NOTE II - STEWARDSHIP, COMPLIANCE, ACCOUNTABILITY
A. Deficit Fund Balances - The Capital Projects Fund had a deficit fund balance of $365,402 at December
31, 2010. This deficit will be eliminated as short-term debt is redeemed or converted to permanent
financing.
B. Overdrawn Appropriations — Expenditures for the year ended December 31, 2010 materially exceeded
appropriations in the funds and/or functions identified below:
MODIFIED EXPENDITURES & UNFAVORABLE
FUND/FUNCTION BUDGET ENCUMBRANCES VARIANCE
Fire Protection Fund $ 3,333,405 $ 3,536,783 $ (203,378)
Fire Protection contractual expense with the City of Ithaca exceeded budget by $203,204. This was
mainly due to higher than anticipated overtime costs.
Page 8
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
NOTE III - 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 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 savings accounts, 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 Town of Ithaca's 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.
Total cash bank balances at December 31, 2010 totaled $6,017,042. These deposits were. fully
collateralized by securities with a fair market value at December 31, 2010 of $7,543,386 or 131%.
2. Changes in Capital Assets - A summary of changes in general fixed assets as follows:
BALANCE BALANCE
DESCRIPTION 1/01/10 ADDITIONS DELETIONS 12/31/10
Land $ 186,552 $ 0 $ 0 $ 186,552
Buildings 4,001,313 0 0 3,959,825
Improvements Other
Than Buildings 365,992 0 0 365,992
Machinery & Equipment 3,604,746 25,976 299,454 3,331,269
Infrastructures 6,411,527 1,507,889 0 7,919,416
Construction in Progress 1,546,636 0 1,357,889 188,747
TOTAL $ 6,116,767 $ 1,533,865 $ 1,657,343 $ 15,993,290
Page 9
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
3. Other Receivables -The Town had the following receivables at December 31, 2010:
Fund Description Amount
Special Revenue:
Water Fund Water Rents & Special Assessments $ 188,904
Sewer Fund Sewer Rents & Special Assessments 131,539
Total - Special Revenue: $320,443-
B. Liabilities
1. Pension Plans
Plan Description - The Town of Ithaca participates in the New York State and Local Employees'
Retirement System (ERS) and the Public Employees' Group Life Insurance Plan (Systems). These are
cost sharing multiple -employer retirement systems. The Systems provide retirement benefits as well
as, death and disability benefits. Obligations of employers and employees to contribute and benefits
to employees are governed by the New York State Retirement and Social Security Law (NYSRSSL).
As set forth in the NYSRSSL, the Comptroller of the State of New York (Comptroller) serves as sole
trustee and administrative head of the Systems. The Comptroller shall adopt and may amend rules
and regulations for the administration and transaction of the business of the Systems and for the
custody and control of their 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 are as follows:
Emnlovee's Retirement System
2010
$ 328,806
2009
$ 201,789
2008
$ 216,161
2007
$ 234,489
2006
$ 238,282
2005
$ 246,646
Page 10
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
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 of Ithaca has no unpaid liability at the year ended December 31,
2010.
While GASB and the New York State Comptroller's Office differ on the accounting treatment of
budgetary savings from the change in the payment date from December 15`h to February I" for the
New York State and Local Retirement System, the Town of Ithaca accounting records reflect prepaid
retirement costs totaling $328,806 for the year 2010. 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 2011 budget.
In 2005 the Town of Ithaca establishment a "General Purpose Benefit Reserve" for future economic
rise and falls in not only retirement benefits but other employee benefits ioo. (e.g. Health Insurance)
The balance in the reserve account at December 31, 2010 is $165,321. 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, General Part -Town Highway, Water and Sewer Funds) to
effectively meet day-to-day expenditures, additional monies were not deposited to the "General
Purpose Benefit Reserve" for the year 2010. This 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 cost spikes in employee benefits (e.g. NYS Retirement, Health
Insurance, Unemployment Benefits).
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, 2010, temporary
financing totaled $381,600 in Bond Anticipation Notes (BANs) outstanding for the Town of Ithaca.
Page 11
}
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
3. Long -Term Debt
a. At December 31, 2010, the total principal serial bond indebtedness outstanding of the Town of
Ithaca aggregated $4,156,000. Of this amount, $538,000 was subject to the Town's constitutional
debt limit and represented less than one percent (0.68%) of its debt limit. Further calculations
disclosed that the Town of Ithaca meets the 7% indebtedness requirement and has not exhausted
its borrowing and repayment abilities.
b. Serial 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 Liabilities: 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 -of Long -Term Liabilities: The following is a summary of liabilities outstanding at
December 31, 2010:
General Long -Term
Liability Debt Account Group
Serial Bonds $ 4,156,000
Compensated Absences 143,480
Total Long -Term Debt $ 4,299,480
Bond Anticipation Notes 381,600
Total Outstanding Debt 4.681.080
e. Summary of Changes in Long -Term Liabilities: The following is a summary of changes in
liabilities outstanding for the period ended December 31, 2010:
Page 12
BALANCE
BALANCE
DESCRIPTION
1/01/10 ADDITIONS
DELETIONS
12/31/10
Serial Bonds
$ 4,794,000 $ 0 $
638,000
$ 4,156,000
_ Installment Bonds
0 0
0
0
Unfunded Retirement
0 0
0
0
Comp. Absences
131,515 11,965
0
143,480
TOTAL
$ 4,925,515 $ 11,965 $
638,000
$ 4,299,480
Additions and deletions due to employee retirement and compensated absences are shown at net
since it is impracticable
to determine these amounts separately.
Page 12
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
f. Long -Term Debt Maturity Schedule: The following is a statement of serial bonds and capital
note(s) with corresponding maturity schedule. (also see Exhibit A on Page 17)_
Interest expense for the year ended December 31, 2010 amounted to $191,984.
g. Future Debt Service Requirements: The following table summarizes the Town of Ithaca's future
debt service requirements as of December 31, 2010.
PRINCIPAL INTEREST TOTAL
FISCAL YEAR(S) PAYMENTS PAYMENTS PAYMENTS
2011
ISSUE
ISSUE
INTEREST
MATURITY
OUTSTANDING
DESCRIPTION
DATE
AMOUNT
RATE
DATE
479,177
12/31/10
GENERAL TOWNWIDE FUND
-
470,656
2015
368,000
88,917
456,917'
Public Improvement SOB
12/29/2003
$ 1,000,000
3.950%
12/29/2017
$
498,000
Public Improvement SOB
01/07/2007
200,000
3.750%
01/07/2011
40,000
WATER FUND
Public Improvement SOB
07/15/1991
$ 2,321,800
6.625%
07/15/2011
$
130,000
Public Improvement SOB
02/12/2004
1,000,000
3.880%
02/12/2019
603,000
Public Improvement SOB
05/15/2004
2,000,000
4.346%
05/15/2024
1,400,000
Public Improvement SOB
09/28/2005
500,000
3.600%
09/28/2015
300,000
Public Improvement SOB
10/01/2009
1,125,000
3.160%
10/01/2024
1,065,000
SEWER FUND
Public Improvement SOB
07/15/1991
$ 2,143,200
6.625%
07/15/2011
$
120,000
TOTAL
$ 10,290,000
$
4,156,000
Interest expense for the year ended December 31, 2010 amounted to $191,984.
g. Future Debt Service Requirements: The following table summarizes the Town of Ithaca's future
debt service requirements as of December 31, 2010.
PRINCIPAL INTEREST TOTAL
FISCAL YEAR(S) PAYMENTS PAYMENTS PAYMENTS
2011
$ 653,000 $
161,118
$ 814,118
` 2012
363,000
129,616
492,616
2013
363,000
116,177
479,177
2014
368,000
102,656
470,656
2015
368,000
88,917
456,917'
2616-2020
1,291,000
267,908
1,558,908
2021-2025
750,000
66,928
816,928
TOTAL
$ 4,156,000 $
933,321
$ 5,089,321
h. Authorized but Unissued Debt: In addition to the debt shown above, the following long-term
debt has been authorized but remains unissued at December 31, 2010.
East Shore Drive Water Main Replacement
$ 2,500,000
Forest Home Drive Road Reconstruction
302,500
Hungerford Hill Pump Station Improvement
400,000
Snyder Hill Road Water Main Replacement
300,000
Snyder Hill Road Reconstruction
500,000
Town Hall Roof Replacement
300,000
Total - Authorized but Unissued Debt $ 4,302,500
Page 13
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
C. Reconciliation of Inter -fund Activities: Inter -fund Receivables (Due From) and Payables (Due To), and
-; Inter -fund Revenue and Expense at December 31, 2010 were as follows:
INTERFUND
INTERFUND INTERFUND
INTERFUND
FUND RECEIVABLE
PAYABLE REVENUE
EXPENSE
General Townwide $ 367,034
$ 53,650 $ 439,423 $
174,175
General Part -Town 0
0 0
73,784
Highway Part -Town 72,214
9,907 0
50,026
' Water Fund 0
26,510 104,454
737,677
Sewer Fund 0
36,446 0
434,135
-- Capital Projects 0
312,735 190,627
104,454
Fire Protection Fund 0
0 0
0
Lighting Districts 0
0 0
0
" Debt Service 0
0 839,747
0
TOTAL $ 439,248
$ 439,248 $ 1,574,251 $
1,574,251
D. Fund Equity
1. Allocation of Fund Balance:
UNRESERVED RESERVED
TOTAL
FUND FUND BALANCE FUND BALANCE FUND BALANCE
General Townwide $
2,026,983 $ 663,809 $
2,690,792
General Part -Town
390,990 22,250
413,240
Highway Part -Town
810,185 71,477
881,661
Water Fund
1,235,114 8,190
1,243,305
'. Sewer Fund
590,530 5,787
596,317
Capital Projects
(365,402) 0
(365,402)
Fire Protection Fund
13,131 0
13,131
Lighting Districts
9,685 0
9,685
" Debt Service
94,092 0
94,092
2. Reserves
a. Open Space Plan Reserve: The
General Townwide Fund equity includes
reserve funds
established for the purpose of future park development and the purchasing of development rights
as outlined in the Town's Open Space Plan. The balance for the year ended December 31, 2010
was $579,002. 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.
b.. Highwayquipment Reserve: The General Part -Town Highway Fund equity includes reserve
funds established for the purchasing/replacement of highway machinery. The balance for the
year ended December 31, 2010 was $27,190. This Reserve Fund was established at the
November 8, 1984 Town Board meeting under Board Resolution No. 193. This reserve is funded
Page 14
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
by unexpended budgeted equipment appropriations for machinery at year-end, and interest earned
for the year.
c. General Benefit Reserve: The General Town Wide Fund, the General -Part Town Fund, the
General Part -Town Highway Fund, the Water Fund, and the Sewer Fund equity includes funds
established for fiscally managing annual economic increases and decreases in employee fringe
benefits (e.g. NYS Retirement Costs, Health Insurance). The aggregate balance for the year ended
December 31, 2010 was $165,321. 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, and interest earned for the year. The balance by fund is as
follows:
General Townwide Fund $ 84,807
General Part -Town Fund 22,250
Highway Part -Town Fund 44,278
Water Fund 8,190
Sewer Fund 5,787
3. 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 IV - JOINT VENTURES
The following activities are undertaken jointly with other municipalities. These activities are excluded from the
Town's financial statements.
A. The Southern Cayuga Lake Intermunicipal Water Commission (SCLIWC) is a joint venture involving the
Towns of Ithaca, Dryden and 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, 2011.
1) SCLIWC's executive body consists of ten members, two members being appointed by each
municipality. At least one member from each municipality shall be an elected official from the
governing body. The Treasurer of SCLIWC is the Town of Ithaca's Supervisor.
2) The Town of Ithaca owns a majority (51.87%) of the SCLIWC and must adopt its annual budget
and any subsequent amendments.
3) The executive body has established charges at rates intending to be self-sustaining to cover all
operating costs and debt service. Any shortfall in revenues produced by such charges will
ultimately be provided by contributions from the participants.
An Annual Joint Venture financial report is filed with the New York State Comptroller's Office. The
Treasurer of SCLIWC has an annual independent audit of the accounting conducted which includes
issuing certified independent financial statements. These statements are available from the administrative
offices of the Southern Cayuga Lake Intermunicipal Water Commission, 1402 East Shore Drive, Ithaca,
New York, 14850.
Page 15
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
For the year ended December 31, 2009, the audited financial statements of the SCLIWC show:
Total Assets
Total Liabilities
Net Assets
Total Revenues
Total Expenses
$ 6,801,438
$ 3,871,195
$ 2,930,243
$ 2,621,090
$ 2,658,511
B. The Ithaca Area Wastewater Treatment Plant (IAWTP) is a joint venture involving the Towns of Ithaca
and Dryden, and the City of Ithaca. This joint venture was formed for the treatment of wastewater. The
joint venture operates under terms of an original agreement dated December 22, 1981 and has been
amended several times, the last of which is dated December 31, 2003. Construction of the treatment plant
began in 1984 and was completed in 1986.
-1) The Special Joint Committee (governing body) of the IAWTP consists of eight members; four from
the City of Ithaca, three from the Town of Ithaca, and one from the Town of Dryden. The City of
Ithaca operates the plant and has custody of the joint activity money.
2) Capital costs allocated to the Town of Ithaca are 40.69 percent of the total.
3) The governing body has established charges at rates intending to be self-sustaining to cover all
operating costs and debt service. Any shortfall in revenues produced by such charges is to be
provided by equal share contributions from the participants.
The following information is from the separately issued financial statements of the IAWTP for the year
ended December 31, 2007 (latest available):
Total Assets
$ 28,523,256
Total Liabilities
$ 2,470,869
Net Assets
$ 26,052,387
Total Revenues
$ 2,890,284
Total Expenses
$ 3,991,801
NOTE V - CONTINGENCIES
Pollution Remediation Contingent Obligation: In 2009, a site commonly known as the Ithaca Area
Wastewater Treatment Plant (IAWTP), which is jointly owned and operated' by the City of Ithaca and the
Towns of Ithaca and Dryden, was listed as a site under CERCLA for hydrocarbon contamination (coal -tar).
The City of Ithaca was sued by First Energy (parent company of New York State Electric & Gas) for $750,000
in remediation costs. The Towns of Ithaca and Dryden voluntarily joined in defense of this lawsuit. In 2010
an out-of-court settlement was reached in the amount of $200,000, of which the Town of Ithaca is liable for
$80,000. As of the date of this report not all parties had approved the terms of the settlement.
Page 16
ISSUE DESCRIPTION
TOWN OF ITHACA
NOTES TO FINANCIAL STATEMENTS
For the Year Ended December 31, 2010
EXHIBIT A
LONG TERM DEBT MATURITY SCHEDULE
ISSUE ORIGINAL INTEREST MATURITY BALANCE
DATE ISSUE RATE DATE 01/01/2010
ADDITIONS DELETIONS BALANCE
12/31/2010
GENERAL TOWNWIDE FUND
Public Improvement SOB, 2003
12/29/2003
$
1,000,000
3.950%
12/29/2017
$
569,000
$
71,000
$
498;000
Public Improvement SOB, 2006
01/07/2007
$
200,000
3.750%
01/07/2011
$
80,000
$
40,000
$
40,000
TOTAL - GENERAL TOWNWIDEFUND
$
1,200,000
$
649,000
$
111,000
$
538,000
WATER FUND
Public Improvement SOB, 1991
07/15/1991
$
2,321,800
6.625%
07/15/2011
$
260,000
$
130,000
$
130,000
Public Improvement SOB, 2004
02/12/2004
$
1,000,000
3.880%
02/12/2019
$
670,000
$
67,000
$
603,000
Public Improvement SOB, 2004
05/15/2004
$
2,000,000
4.346%
05/15/2024
$
1,500,000
$
100,000
$
1,400,000
Public Improvement SOB, 2005
09/28/2005
$
500,000
3.600%
09/28/2015
$
350,000
$
50,000
$
300,000
Public Improvement SOB, 2009
10/01/2009
$
1,125,000
3.160%
10/01/2024
$
1,125,000
$
60,000
$
1,065,000
TOTAL - WATER FUND
$
6,946,800
$
3,905,000
$
407,000
$
3,498,000
SEWER FUND
Public Improvement SOB, 1991
07/15/1991
$
2,143,200
6.625%
07/15/2011
$
240,000
$
120,000
$
120,000
TOTAL - SEWER FUND
$
2,143,200
$
240,000
$
120,000
$
120,000
Total Long -Term Debt - 12/31/2010 $ 10,290,000 $ 4,794,000 $ 638,000 $ 4,156,000
Page 17
TOWN OF ITHACA
BALANCE SHEET
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
ASSETS
GENERAL
GENERAL
HIGHWAY
CAPITAL
DESCRIPTION
TOWNWIDE
PART -TOWN
PART -TOWN WATER
SEWER PROJECTS
- $
FUND
FUND
FUND FUND
FUND FUNDS
ASSETS
ACCOUNTS RECEIVABLE
$ 12,590 $
717 $
150 $
- $
- $ 15,725
UNRESERVED CASH:
-
-
-
188,904
131,539
DUE FROM OTHER FUNDS
367,034
-
72,214
-
- -
CASH
$
1,706,083
$
301,963
$
590,673
$
1,,133,333
$
589,158
$ 313,208
CASH IN CERTIFICATES OF DEPOSIT
179,746
-
79,201
-
7,809
-
-
-
-
-
-
PETTY CASH
$ 592,896 $
725
373,317 $
-
139,348 $ 15,725
200
$ 2,963,513 $
-
1,035,667 $
-
-
TOTAL UNRESERVED CASH
$
1,706,808
$
301,963
$
590,873
$
1,133,333
$
589,158
$ 313,208
RESERVED CASH:
PARKS & OPEN SPACE
$
579,002
$
-
$
-
$
-
$
-
$ -
GENERAL PURPOSE BENEFIT
84,807
22,250
44,287
8,190
5,787
-
HIGHWAY EQUIPMENT
-
-
27,190
-
-
-
CASH IN CERTIFICATES OF DEPOSIT
-
-
-
-
-
-
TOTAL RESERVED CASH
$
663,809
$
22,250
$
71,477
$
8,190
$
5,787
$ -
OTHER ASSETS:
ACCOUNTS RECEIVABLE
$ 12,590 $
717 $
150 $
- $
- $ 15,725
WATER & SEWER RENTS RECEIVABLE
-
-
-
188,904
131,539
DUE FROM OTHER FUNDS
367,034
-
72,214
-
- -
STATE & FEDERAL AID RECEIVABLE
21,142
-
-
-
- -
DUE FROM OTHER GOV'TS
12,384
107,799
221,753
-
- -
PREPAID EXPENSES
179,746
61,317
79,201
9,319
7,809
BAN LOANS
-
-
-
-
- -
TOTAL OTHER ASSETS
$ 592,896 $
169,833 $
373,317 $
198,223 $
139,348 $ 15,725
TOTAL ASSETS
$ 2,963,513 $
494,046 $
1,035,667 $
1,339,746 $
734,293 $ 328,933
LIABILITIES and FUND BALANCE
ACCOUNTS PAYABLE
$ - $
- $
- $
- $
- $
-
ACCRUED LIABILITIES
219,072
80,806
136,096
69,931
101,530
-
BAN PAYABLE
-
-
-
-
-
381,600
DUE TO OTHER FUNDS
53,650
-
9,907
26,511
36,446
312,735
DEFERRED REVENUE
-
-
8,003
-
-
-
RESERVED FUND BALANCE
663,809
22,250
71,477
8,190
5,787
-
UNRESERVED FUND BALANCE
2,026,982
390,990
810,185
1,235,114
590,530
(365,402)
TOTAL LIABILITIES & FUND BALANCE
$ 2,963,513 $
494,046 $
1,035,667 $
1,339,746 $
734,293 $
328,933
RESERVED & UNRESERVED
FUND BALANCE
FUND BALANCE - 01/01/2010
$ 2,913,932 $
369,810 $
397,477 $
885,113 $
1,523,577 $
(8,433)
ADD: REVENUE
3,574,630
1,124,013
2,440,171
2,966,149
1,389,453
208,900
LESS: EXPENSE
3,797,770
1,080,583
1,955,988
2,607,958
2,316,713
565,868
RESERVED FUND BALANCE
663,809
22,250
71,477
8,190
5,787
-
UNRESERVED FUND BALANCE
2,026,983
390,990
810,185
1,235,114
590,530
(365,402)
FUND BALANCE - 12/31/2010
$ 2,690,792 $
413,240 $
881,661 $
1,243,305 $
596,317 $
(365,402)
Page 1 of 4
TOWN OF ITHACA
BALANCE SHEET
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
ASSETS
UNRESERVED CASH:
CASH $ - $ 409,370 $ 9,985 $ 94,092 $ - $ -
CASH IN CERTIFICATES OF DEPOSIT - - - - - -
PETTY CASH - - - - - -
TOTAL UNRESERVED CASH $ - $ 409,370 $ 9,985 $ 94,092 $ - $ -
RESERVED CASH:
PARKS & OPEN SPACE $ - $ - $ - $ - $ - $
GENERAL PURPOSE BENEFIT - - - - -
FIDUCIARY FUNDS - - - - 91,699 9,034
CASH IN CERTIFICATES OF DEPOSIT - - - - - -
TOTAL RESERVED CASH $ - $ - $ - $ - $ 91,699 $ 9,034
OTHER ASSETS:
RISK
FIRE
LIGHTING
DEBT
TRUST &
INLET
DESCRIPTION
RETENTION
PROTECTION
DISTRICT
SERVICE
AGENCY
VALLEY
CUSTOMER RECEIVABLE
FUND
FUND
FUNDS
FUND
FUND
CEMETERY
ASSETS
UNRESERVED CASH:
CASH $ - $ 409,370 $ 9,985 $ 94,092 $ - $ -
CASH IN CERTIFICATES OF DEPOSIT - - - - - -
PETTY CASH - - - - - -
TOTAL UNRESERVED CASH $ - $ 409,370 $ 9,985 $ 94,092 $ - $ -
RESERVED CASH:
PARKS & OPEN SPACE $ - $ - $ - $ - $ - $
GENERAL PURPOSE BENEFIT - - - - -
FIDUCIARY FUNDS - - - - 91,699 9,034
CASH IN CERTIFICATES OF DEPOSIT - - - - - -
TOTAL RESERVED CASH $ - $ - $ - $ - $ 91,699 $ 9,034
OTHER ASSETS:
- $ 409,370 $
9,985 $
94,092 $ 91,699 $
9,034
ACCOUNTS RECEIVABLE
RESERVED & UNRESERVED
-
CUSTOMER RECEIVABLE
FUND BALANCE
-
-
-
-
- -
DUE FROM OTHER FUNDS
14,445 $
-
-
-
-
- -
STATE & FEDERAL AID RECEIVABLE
12,283
-
-
-
-
- -
DUE FROM OTHER GOV'TS
- -
-
-
-
-
- -
PREPAID EXPENSES
94,092 -
-
-
-
-
- -
BAN LOANS
-
-
-
-
- -
TOTAL OTHER ASSETS
$
- $
- $
- $
- $
- $ -
TOTAL ASSETS
$
- $
409,370 $
9,985 $
94,092 $
91,699 $ 9,034
LIABILITIES and FUND BALANCE
ACCOUNTS PAYABLE
$
- $
- $
- $
- $
- $ -
ACCRUED LIABILITIES
-
396,240
299
-
91,699 -
BAN PAYABLE
-
-
-
-
- -
DUE TO OTHER FUNDS
-
-
-
-
- -
DEFERRED REVENUE
-
-
-
-
- -
RESERVED FUND BALANCE
-
-
-
-
- 9,034
UNRESERVED FUND BALANCE
-
13,131
9,685
94,092
- -
TOTAL LIABILITIES & FUND BALANCE $
- $ 409,370 $
9,985 $
94,092 $ 91,699 $
9,034
RESERVED & UNRESERVED
FUND BALANCE
FUND BALANCE - 01/01/2010 $
- $ 516,369 $
14,445 $
84,884 $ - $
-
ADD: REVENUE
- 3,033,544
7,536
841,392 -
12,283
LESS: EXPENSE
- 3,536,783
12,296
832,184 -
3,249
RESERVED FUND BALANCE
- -
-
- -
9,034
UNRESERVED FUND BALANCE
- 13,131
9,685
94,092 -
-
FUND BALANCE -12/31/2010 $
- $ 13,131 $
9,685 $
94,092 $ - $
9,034
Page 2 of 4
TOWN OF ITHACA
BALANCE SHEET for CAPITAL PROJECTS
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
ACTIVE CAPITAL PROJECTS AT YEAR END
FUND H1 FUND H2 FUND H3 FUND H8 TOTAL
DESCRIPTION First Street Forest Home Warren Road Gateway Trail CAPITAL
Interceptor Traffic Calming Walkway PROJECTS
ASSETS
FUND BALANCE
UNRESERVED CASH:
FUND BALANCE - 01/01/2010
$ (148,445) $
25,522 $
(76,206) $
86,355 $
(112,774)
ADD: REVENUE
153,516
53,327
1,705
CASH
$
5,071
$
34,179
$
187,364
$
86,594
$
313,208
CASH IN CERTIFICATES OF DEPOSIT
-
-
RESERVED FUND BALANCE
-
-
-
_
-
UNRESERVED FUND BALANCE
-
TOTAL UNRESERVED CASH
$
5,071
$
34,179
$
187,364
$
86,594
$
313,208
RESERVED CASH:
PARKS & OPEN SPACE
$
-
$
-
$
-
$
$
_
FIDUCIARY FUNDS
CASH IN CERTIFICATES OF DEPOSIT
TOTAL RESTRICTED CASH
$
-
$
-
$
-
$
_
$
_
OTHER ASSETS:
ACCOUNTS RECEIVABLE
$
-
$
15,725
$
-
$
-
$
15,725
CUSTOMER RECEIVABLE
-
-
_
_
_
DUE FROM OTHER FUNDS
STATE & FEDERAL AID RECEIVABLE
DUE FROM OTHER GOV'TS
PREPAID EXPENSES
BAN LOANS
-
-
_
_
_
TOTAL OTHER ASSETS
$
-
$
15,725
$
-
$
-
$
15,725
TOTAL ASSETS
$
5,071
$
49,904
$
187,364
$
86,594
$
328,933
LIABILITIES and FUND BALANCE
ACCOUNTS PAYABLE
$
-
$
-
$
_
$
$
-
ACCRUED LIABILIITES
_
_
DUE TO OTHER FUNDS
-
312,735
-
-
312,735
RETAINAGE
_
BAN PAYABLE
-
-
381,600
-
381,600
" RESERVED FUND BALANCE
-
-
_
_
_
UNRESERVED FUND BALANCE
5,071
(262,831)
(194,236)
86,594
(365,402)
TOTAL LIABILITIES & FUND BALANCE
$
5,071
$
49,904
$
187,364
$
86,594
$
328,933
RESERVED & UNRESERVED
FUND BALANCE
FUND BALANCE - 01/01/2010
$ (148,445) $
25,522 $
(76,206) $
86,355 $
(112,774)
ADD: REVENUE
153,516
53,327
1,705
239
208,787
LESS: EXPENSE
LESS: EXPENSES
-
341,681
119,734
-
461,415
RESERVED FUND BALANCE
-
-
_
_
_
UNRESERVED FUND BALANCE
5,071
(262,831)
(194,236)
86,594
(365,402)
FUND BALANCE - 12/31/2010
$ 5,071 $
(262,831) $
(194,236) $
86,594 $
(365,402)
Page 3 of 4
TOWN OF ITHACA
BALANCE SHEET for LIGHTING DISTRICTS
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
FUND SL -1 FUND SL -2 FUND SL -3 FUND SL -4 FUND SL -5 FUND SL -6 FUND SL -7 FUND SL -8 FUND SL -9 TOTAL
DESCRIPTION Forest Glenside Renwick Eastwood Clover Lane Winner's Burleigh Westhaven Coddington LIGHTING
Home Heights Commons Circle Drive Road Road I DISTRICTS
ASSETS
UNRESERVED CASH:
CASH
$
1,918
$
722
$ 1,285
$ 1,839
$
313
$
570
$
517
$
1,817
$ 1,004
$
9,985
CASH IN CERTIFICATES OF DEPOSIT
-
-
-
-
-
-
-
-
-
-
TOTAL UNRESERVED CASH
$
1,918
$
722
$ 1,285
$ 13839
$
313
$
570
$
517
$
1,817
$ 1,004
$
9,985
RESERVED CASH:
FIDUCIARY FUNDS
$
-
$
-
$ -
$ -
$
-
$
-
$
-
$
-
$ -
$
-
CASH IN CERTIFICATES OF DEPOSIT
-
-
-
-
-
-
-
-
-
-
TOTAL RESTRICTED CASH
$
-
$
-
$ -
$ -
$
-
$
-
$
-
$
-
$ -
$
-
OTHER ASSETS:
ACCOUNTS RECEIVABLE
$
-
$
-
$ -
$ -
$
-
$
-
$
-
$
-
$ -
$
-
DUE FROM OTHER FUNDS
-
-
-
-
-
-
-
-
-
-
PREPAID EXPENSES
-
-
-
-
-
-
-
-
-
TOTAL OTHER ASSETS
$
-
$
-
$ -
$ -
$
-
$
-
$
-
$
-
$ -
$
-
TOTAL ASSETS
$
1,918
$
722
$ 1,285
$ 1,839
$
313
$
570
$
517
$
1,817
$ 1,004
$
9,985
LIABILITIES and FUND BALANCE
ACCOUNTS PAYABLE
$
-
$
-
$ -
$ -
$
-
$
-
$
-
$
-
$ -
$
-
ACCRUED LIABILIITES
58
23
30
42
5
18
18
73
42
299
DUE TO OTHER FUNDS
-
-
-
-
-
-
-
-
-
-
RESERVED FUND BALANCE
-
-
-
-
-
-
-
-
-
-
UNRESERVED FUND BALANCE
1,860
698
1,254
1,797
308
562
498
1,745
962
9,685
TOTAL LIABILITIES & FUND BALANCE
$
1,918
$
722
$ 1,285
$ 1,839
$
313
$
570
$
517
$
1,817
$ 1,004
$
9,985
ESTIMATED FUND BALANCE
FUND BALANCE - 01/01/2010
$
2,853
$
1,440
$ 1,997
$ 2,843
$
388
$
951
$
622
$
2,260
$ 1,091
$
14,445
ADD: REVENUE
969
3
296
1,097
178
362
753
2,324
1,553
7,536
LESS: EXPENSE
1,962
745
1,039
2,143
258
751
877
2,839
1,682
12,296
RESERVED FUND BALANCE
-
-
-
-
-
-
-
-
-
-
UNRESERVED FUND BALANCE
1,860
698
1,254
1,797
308
562
498
1,745
962
9,685
FUND BALANCE -12/31/2010
$
1,860
$
698
$ 1,254
$ 1,797
$
308
$
562
$
498
$
1,745
$ 962
$
9,685
Page 4 of 4
TOWN OF ITHACA
REVENUE and EXPENSE SUMMARY
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
REVENUE
GENERAL
GENERAL
HIGHWAY
CAPITAL
DESCRIPTION
TOWNWIDE
PART -TOWN
PART -TOWN WATER
SEWER PROJECTS
$ 2,440,171
FUND
FUND
FUND FUND
FUND FUNDS
REVENUE
$
3,795,770
$
1,080,583
$
1,955,988
BUDGET
$ 3,572,630
$ 1,124,013
$ 2,440,171
$ 2,966,149
$ 1,389,453
$ 208,900
ACTUAL & ACCRUED
3,572,630
1,124,013
2,440,171
2,966,149
1,389,453
208,900
OVER (UNDER)
$ -
$ -
$ -
$ -
$ -
$ -
% EARNED
100.0%
100.0%
100.0%
100.0%
100.0%
100.00%
% UNEARNED
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
EXPENSE
100.0%
100.0%
100.0%
BUDGET
$
3,795,770
$
1,080,583
$
1,955,988
$
2,607,958
$
2,316,713
$
565,868
ACTUAL & ENCUMBRANCE
3,795,770
1,080,583
1,955,988
2,607,958
2,316,713
565,868
OVER (UNDER)
$
-
$
-
$
-
$
-
$
-
$
-
% EXPENDED
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
% UNEXPENDED
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
ESTIMATED
RESERVED & UNRESERVED
FUND BALANCE
BEGINNING BAL - 01/01/2010
$
2,913,932
$
369,810
$
397,477
$
885,113
$
1,523,577
$
(8,433)
ACTUAL & ACCRUED
ADD: REVENUE
3,572,630
1,124,013
2,440,171
2,966,149
1,389,453
208,900
LESS: EXPENSE
3,795,770
1,080,583
1,955,988
2,607,958
2,316,713
565,868
ENDING BALANCE - 12/31/2010
$
2,690,792
$
413,240
$
881,661
$
1,243,305
$
596,317
$
(365,402)
CASH and
CASH EQUIVALENTS
UNRESERVED CASH
CASH IN SAVINGS
$
1,7069083
$
301,963
$
590,673
$
1,133,333
$
285,267
$
313,208
CASH - SJC OPERATING
-
-
-
-
303,890
-
PETTY CASH
725
-
200
-
-
-
TOTAL UNRESERVED CASH
$
1,706,808
$
301,963
$
590,873
$
1,133,333
$
589,158
$
313,208
RESERVED CASH
PARKS & OPEN SPACE
$
579,002
$
-
$
-
$
-
$
-
$
-
GENERAL PURPOSE BENEFIT
84,807
22,250
44,287
8,190
5,787
-
HIGHWAY EQUIPMENT
-
-
27,190
-
-
-
FIDUCIARY FUNDS
-
-
-
-
-
_
TOTAL RESERVED CASH
$
6639809
$
22,250
$
71,477
$
8,190
$
5,787
$
-
TOTAL CASH @ 12/31/2010
$
2,370,617
$
324,213
$
662,350
$
1,141,524
$
5949945
$
313,208,
Page 1 of 4
TOWN OF ITHACA
REVENUE and EXPENSE SUMMARY
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
REVENUE
RISK
FIRE
LIGHTING
DEBT
TRUST &
INLET
DESCRIPTION
RETENTION
PROTECTION
DISTRICT
SERVICE
AGENCY
VALLEY
3,033,544
FUND
FUND
FUNDS
FUND
FUND
CEMETERY
REVENUE
RESERVED & UNRESERVED
FUND BALANCE
BUDGET
$
- $
3,033,544
$
7,536
$
841,392
$
- $
12,283
ACTUAL
841,392 - 12,283
-
3,033,544
12,296
7,536
:ENDING BALANCE -12/31/2010 $
841,392
9,685 $
-
12,283
OVER(UNDER)
$
- $
-
$
-
$
-
$
- $
-
% EARNED
100.0%
100.0%
100.0%
100.0%
% UNEARNED
0.0%
0.0%
0.0%
0.0%
EXPENSE
BUDGET
$
- $
3,536,783
$
12,296
$
832,184
$
- $
3,249
ACTUAL & ENCUMBRANCE
-
3,536,783
12,296
832,184
-
3,249
OVER(UNDER)
$
- $
-
$
-
$
-
$
- $
-
% EXPENDED
100.0%
100.0%
100.0%
100.0%
% UNEXPENDED
0.0%
0.0%
0.0%
0.0%
ESTIMATED
RESERVED & UNRESERVED
FUND BALANCE
BEGINNING BAL - 01/01/2010 $
- $ 516,369 $
14,445 $
84,884 $ - $ -
ACTUAL & ACCRUED
ADD: REVENUE
- 3,033,544
7,536
841,392 - 12,283
LESS: EXPENSES
- 3,536,783
12,296
832,184 - 3,249
:ENDING BALANCE -12/31/2010 $
- $ 13,131 $
9,685 $
94,093 $ - $ 9,034
CASH and
CASH EQUIVALENTS
UNRESERVED CASH
CASH IN SAVINGS $ - $ 409,370 $ 9,985 $ 94,092 $ - $ -
CASH - SJC OPERATING - - - - - -
PETTY CASH - - - - - -
TOTAL UNRESERVED CASH $ - $ 409,370 $ 9,985 $ 94,092 $ - $ -
RESERVED CASH
PARKS & OPEN SPACE $ - $ - $ - $ - $ - $ -
GENERAL PURPOSE BENEFIT - - - - - -
HIGHWAY EQUIPMENT - - - - - -
FIDUCIARY FUNDS - - - - 91,699 9,034
TOTAL RESERVED CASH $ - $ - $ - $ - $ 91,699 $ 9,034
TOTAL CASH @ 12/31/2010 $ - $ 409,370 $ 9,985 $ 94,092 $ 91,699 $ 9,034
Page 2 of 4
TOWN OF ITHACA
REVENUE and EXPENSE SUMMARY for CAPITAL PROJECTS
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
REVENUE
BUDGET
ACTUAL & ACCRUED
OVER (UNDER)
% EARNED
% UNEARNED
EXPENSE
BUDGET
ACTUAL & ENCUMBRANCE
$ 153,516 $ 53,327 $
153,516 53,327
100.0% 100.0%
0.0% 0.0%
Completed Completed
1,705 $ 239 $ 69 $ 43
1,705 239 69 43
100.0%
0.0%
$ 341,681 $ 119,734 $
341,681 119,734
100.0% 100.0% 100.0%
0.0% 0.0% 0.0%
$ 64,166 $ 40,288
64,166 40,288
OVER(UNDER)
FUND H1
FUND H2
FUND H3
FUND H8 FUND H9
FUND H10
DESCRIPTION
First Street
Forest Home
Warren Road
Gateway Trail Trumansburg
Hanshaw Road
Interceptor
Traffic Calming
Walkway
Water Main
Water Main
REVENUE
BUDGET
ACTUAL & ACCRUED
OVER (UNDER)
% EARNED
% UNEARNED
EXPENSE
BUDGET
ACTUAL & ENCUMBRANCE
$ 153,516 $ 53,327 $
153,516 53,327
100.0% 100.0%
0.0% 0.0%
Completed Completed
1,705 $ 239 $ 69 $ 43
1,705 239 69 43
100.0%
0.0%
$ 341,681 $ 119,734 $
341,681 119,734
100.0% 100.0% 100.0%
0.0% 0.0% 0.0%
$ 64,166 $ 40,288
64,166 40,288
OVER(UNDER)
$ - $
- $
- $
-
$
% EXPENDED
0.0%
100.0%
100.0%
0.0%
100.0%
100.0%
% UNEXPENDED
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
ESTIMATED
RESERVED & UNRESERVED
FUND BALANCE
BEGINNING BAL - 01/01/2010
$ (148,445) $
25,522 $
(76,206) $
86,355
$ 64,096
$ 40,245
ACTUAL and ACCRUED
ADD: REVENUE
153,516
53,327
1,705
239
69
43
ADD: RETAINAGE
-
-
-
-
-
-
LESS: EXPENSES
-
341,681
119,734
-
64,166
40,288
ENDING BALANCE -12/31/2010
$ 5,071 $
(262,831) $
(194,236) $
86,594
$ -
$ -
CASH and
CASH EQUIVALENTS
CASH ON HAND $ 5,071 $ 34,179 $ 187,364 $ 86,594 $ - $ -
INVESTMENTS - - - - - -
'TOTAL CASH @ 12/31/2010 $ 5,071 $ 34,179 $ 187,364 $ 86,594 $ - $
Page 3 of 4
TOWN OF ITHACA
REVENUE and EXPENSE SUMMARY for LIGHTING DISTRICTS
ANNUAL FINANCIAL REPORT UPDATE DOCUMENT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
REVENUE
BUDGET
FUND SL -1
FUND SL -2 FUND SL -3
FUND SL -4
FUND SL -5 FUND SL -6
FUND SL -7
FUND SL -8
FUND SL -9
TOTAL
DESCRIPTION
Forest
Glenside Renwick
Eastwood
Clover Lane Winner's
Burleigh
Westhaven
Coddington
LIGHTING
$ - $ -
Home
Heights
Commons
Circle
Drive
Road
Road
DISTRICTS
REVENUE
BUDGET
$ 969
$ 3 $ 296 $ 1,097
$ 178 $ 362
$ 753 $ 2,324
$ 1,553
$ 7,535
ACTUAL & ACCRUED
969
3 296 1,097
178 362
753 2,324
1,553
7,535
OVER (UNDER)
$ -
$ - $ - $ -
$ - $ -
$ - $ -
$ -
$ -
% EARNED
100.0%
100.0% 100.0% 100.0%
100.0% 100.0%
100.0% 100.0%
100.0%
100.0%
% UNEARNED
0.0%
0.0% 0.0% 0.0%
0.0% 0.0%
0.0% 0.0%
0.0%
0.0%
EXPENSE
BUDGET
$ 1,962
$ 745 $ 1,039
$ 2,143
$ 258 $ 751 $ 877 $ 2,839
$ 1,682
$ 12,296
ACTUAL & ENCUMBRANCE
1,962
745 1,039
2,143
258 751 877 2,839
1,682
12,296
OVER (UNDER)
$ -
$ - $ -
$ -
$ - $ - $ - $ -
$ -
$ -
% EXPENDED
100.0%
100.0% 100.0%
100.0%
100.0% 100.0% 100.0% 100.0%
100.0%
100.0%
% UNEXPENDED
0.0%
0.0% 0.0%
0.0%
0.0% 0.0% 0.0% 0.0%
0.0%
0.0%
ESTIMATED FUND BALANCE
BEGINNING BAL - 01/01/2010 $
2,853 $
1,440 $
1,997 $
2,843 $
388 $ 951 $ 622 $ 2,260 $
1,091 $
14,445
ACTUAL & ACCRUED
ADD: REVENUE
969
3
296
1,097
178 362 753 2,324
1,553
7,536
LESS: EXPENSE
1,962
745
1,039
2,143
258 751 877 2,839
1,682
12,296
.ENDING BALANCE - 12/31/2010 $
1,860 $
698 $
1,254 $
1,797 $
308 $ 562 $ 498 $ 1,745 $
962 $
9,685
CASH and
CASH EQUIVALENTS
CASH (CHECKING/SAVINGS) $ 1,918 $ 722 $ 1,285 $ 1,839 $ 313 $ 570 $ 517 $ 1,817 $ 1,004 $ 9,985
INVESTMENTS - - - - - - - - - -
TOTAL CASH @ 12/31/2010 $ 1,918 $ 722 $ 1,285 $ 1,839 $ 313 $ 570 $ 517 $ 1,817 $ 1,004 $ 9,985
Page 4 of 4