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2012 Annual Report Submitted to the NYS Comptroller
)p 1 1 TOWN r_}r L 7n� LERKCA Fin, H-''L Cmu mTvWN 0-- F 1A- 1 0 COUNTY OF TOMPKINS STATE OF NEW YORK FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Town of Ithaca 215 N. Tioga Street Ithaca, NY 14850 n u All Numbers in This Report Have Been Rounded To The Nearest Dollar ANNUAL FINANCIAL REPORT UPDATE DOCUMENT For The TOWN of Ithaca County of Tompkins For the Fiscal Year Ended 12/31/2012 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 `J 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 2011 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2012: (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 2011 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 2012 (A) GENERAL Balance Sheet Assets Cash 1,551,400 A200 2,012,650 Cash In Time Deposits A201 Petty Cash 725 A210 725 �c Accounts Receivable 3,406 A380 2,238 State & Federal, Other 21,142 A410 Due From Other Funds 583,960 A391 37,722 Due From Other Governments Prepaid Expenses 63,185 A440 46,899 81,470 A480 76,740 Cash, Special Reserves 737,098 A230 788,785 Page 3 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (A) GENERAL Balance Sheet Liabilities Accrued Liabilities 153,763 A601 239,399 Due To Other Funds 53,237 A630 124,176 Not in Spendable Form 81,470 A806 76,740 General Reserve A870 Capital Reserve 652,149 A878 682,326 Other Restricted Fund Balance 84,949 A899 106,460 -R $tt Assigned Appropriated Fund Balance 505,944 A914 497,407 psi rttl MEEMEM Unassigned Fund Balance 1,510,874 A917 1,239,253 Page 4 OSC Municipality Code 500342300000 Page 5 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (A) GENERAL i Results of Operation Revenues Property Taxes 2,132,761 A1001 2,231,123 ggR,,,,eal iQ1' i iieFd iPro Texas �132,�761 ��Z 4r 7 Other Payments In Lieu of Taxes 54,723 A1081 44,551 Interest & Penalties On Real Prop Taxes 9,284 A1090 10,045 Non Prop Tax Dist By County 621,307 A1120 438,630 fQTAI. t,c91 Froprrly7axNow62,1, 438; Clerk Fees 5,956 A1255 4,080 Public Pound Charges, Dog Control Fees 1,791 A1550 530 Other Home &jCommunity Services Income 56,4(06 A2189 72,091 Youth Recreation Services, Other Govts 36,175 A2350 35,320 �1#i tail . #liktlt . �VA 1111111111E; r Interest And Earnings 11,016 A2401 7,653 Rental, Other (specify) 46,810 A2440 44,374 , _AS Dog Licenses 13,610 A2544 15,418 Fines And Forfeited Bail 291,391 A2610 249,769 ,T Sales of Real Property A2660 30,000 Insurance Recoveries 44,090 A2680 300 Refunds of Prior Year's Expenditures 1,162 A2701 -16,533 Grants From Local Governments A2706 900 Unclassified (specify) 4,825 A2770 3,997 TQT Mlscet aou - St Aid, Mortgage Tax 248,039 A3005 279,560 St Aid - Other (specify) A3089 5,023 Additional Description Justice Court Grant St Aid -Other Cul & Rec St Aid A3889 7 fi St�Cts � X8+1, ,QT R�rsrsKsu _ 8, 34 3 4'.i6 Interfund Transfers 524,324 A5031 537,067 'T4T nt_ tttn1quiRt s 1524,32 537, Bond Anticipation Notes A5730 'fQ Pracsrda of Obil .Ian ;0 Page 5 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (A) GENERAL Results of Operation me Expenditures Legislative Board, Pers Sery 75,540 A10101 75,123 Legislative Board, Contr Expend 6,859 A10104 5,721 i,8i3ttSBrdNil 2,630 A13404 990 Municipal Court, Pers Sery 148,370 A11101 150,159 Municipal Court, Equip & Cap Outlay 103,776 A11102 112,254 Municipal Court, Contr Expend 211,638 A11104 220,587 TO I'A Munk! 41t +Gti, .,..Mill i 3Tt}7 Supervisor,pers Sery 49,487 A12201 50,490 Supervisor,equip & Cap Outlay A12202 Supervisor,contr Expend 854 A12204 2,029 fiQFAt. $u 01 NIEW 6tl;3�10 A14302 52,51 Auditor, Contr Expend 9,083 A13204 11,100 Tax Collection,pers Sery Tax Collection,contr Expend 58,607 A13301 57,652 5,915 A13304 6,711 Budget, Pers Sery 70,257 A13401 63,203 Budget, Contr Expend 2,630 A13404 990 Tl7"3a Clerk,pers Sery 103,776 A14101 112,254 Clerk,contr Expend 6,408 A14104 6,247 Law, Contr Expend 35,157 A14204 13,813 tb Personnel, Pers Sery 87,608 A14301 76,856 Personnel,equip & Cap Outlay A14302 Personnel, Contr Expend 17,217 A14304 25,960 i'�?s P . 1�i; • Engineer, Pers Sery 145,335 A14401 200,150 Engineer, Equip & Cap Outlay 33,408 A14402 Engineer, Contr Expend 15,310 A14404, 16,226 TOT gfn � 11r;� Elections, Contr Expend A14504 . t T �tr�ttaEn Records Mgmt, PerS. SerV. -2,203 A14601 274 Records Mgmt, Equip & Cap Outlay A14602 Records Mgmt, Contr Expend 7,915 A14604 8,707 Buildings, Pers Sery 36,132 A16201 34,491 Buildings, Equip & Cap Outlay 297 A16202 206,144 Buildings, Contr Expend 84,638 A16204 88,558 Tom» Bitty IrtgNNOMMA1, Central Comm System, Contr Expend A16504 3,503 ���� G�!l1tt:Pt G:ort1 a� Q3,667 Page 6 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (A) GENERAL Results of Operation Expenditures Central Storeroom, Contr Expend 2,399 A16604 2,8878 �. 3[ Csrstral tarercwrr► . `z " �v •- s„ lJ :, a 2;8 ;. Central Print & Mail, Equip & Cap Outlay 5,693 A16702 12,206 C1'T�i. C:si'itrat° . lntl MaliN " �`- t�'iiSi� 12,Z ; Central Data Process, Pers Sery 61,119 A16801 60,092 Central Data Process & Cap Outlay 1,723 A16802 4,809 Central Data Process, Contr Expend 24,269 A16804 29,953 TO'1rAi. Gerlitl'!lt 0 tti F 8711 '94, Unallocated Insurance, Contr Expend 59,440 A19104 21,296 Municipal Assn Dues, Contr Expend 2,500 A19204 2,750 Pur of Land/right of Way, Contr Expend A19404 9dii, tri ` of Lartdlt)" ii Taxes & Assess On Munic Prop, Contr Expend 5,087 A19504 5,236 unl Other Gen Govt Support, Contr Expend 325 A19894 k6 - ,T Qlrt 9 S" Traffic Control, Pers Sery 14,898 A33101 14,650 Traffic Control, Contr Expen 4,167 A33104 9,835 TG1T ilrfti tC.otttra Control of Animals, Contr Expend 52,746 A35104 50,000 'C tal Sa 1: Other Health, Contr Expend 18,105 A49894 7,142 Street Admin, Pers Sery 150,649 A50101 163,443 Street Admin, Equip & Cap Outlay A50102 Street Adm In, Contr Expend 2,319 A50104 G!'R. r�3,274 Garage, Pers Sery 55,282 A51321 93,718 Garage, Equip & Cap Outlay 5,909 A51322 17,500 Garage, Contr Expend 64,511 A51324 59,534 Street Lighting, Contr Expend 31,326 A51824 31,319 AStsfiCghEltY Bus Operations, Contr Expend 3i32l4 50,000 A56304 31:31' 50,000 Recreation Admini, Pers Sery A70201 Recreation Admini, Contr Expend 20,950 A70204 1,591 Parks, Pers Sery 314,965 A71101 271,457 Page 7 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (A) GENERAL Results of Operation Expenditures ,.. 7. 465 110,347 26,371 A90408 25,269 2,305 A90458 Special Rec Facility, Contr Expend 2,000 A71804 2,489 7,509 A90558 1,169 303,011 Joint Youth Prog, Contr Expend 286,068 A73204 1�9{9y,22774 ,OTAt. J� ,_. Alwtfi Library, Contr Expend 20,000 A74104 20,000 = T Lt nary Historian, Pers Sery 1,000 A75101 1,000 Historian, Contr Expend A75104 'C't1TAl. Historfa �+ Celebrations, Equip & Cap Outlay 3,851 A75502 4,007 r�tlos +I W *w1T rs R Planning, Pers Sery 35,215 A80201 19,952 Planning, Contr Expend 2,491 A80204 2,801 Drainage, Pers Sery 62,042 A85401 66,604 Drainage, Equip & Cap Outlay 14,653 A85402 27,839 Social Security, Employer Cont Worker's Compensation, Empl Bnfts Life Insurance, Empl Bnfts Unemployment Insurance, Empl Bnfts Disability Insurance, Empl Bnfts Hospital & Medical (dental) Ins, Empi Bnft 112,584 A90308 110,347 26,371 A90408 25,269 2,305 A90458 3,059 -361 A90508 2,022 7,509 A90558 1,169 303,011 A90608 363,168 T ° T FAIIIIIIIIIIIIN 'COT 6xprrndit 4;04 1 Transfers, Other Funds 92,171 A99019 87,907 Transfers, Capital Projects Fund 201,482 A99509 99,027 Page 8 OSC Municipality Code 500342300000, • • • 0 s • • Page 9 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 • (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity -Beginning of Year 2,690,792 A8021 2,835,387 Prior Period Adj - Decrease In Fund Equity A8015 0 Restated Fund Equity - Beg of Year 2,690,792 A8022 2,835,386 - - ADD - REVENUES AND OTHER SOURCES 4,103,672 3,993,899 DEDUCT - EXPENDITURES AND OTHER USES 3,959,077 4,227,100 Fund Equity -End of Year 2,835,387 A8029 2,602,185 • • • 0 s • • Page 9 OSC Municipality Code 500342300000 0 11 • • (A) GENERAL Budget Summary Estimated Revenues Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Non Property Tax Items Est Rev - Departmental Income Est Rev - Intergovernmental Charges Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - Fines And Forfeitures Est Rev - Miscellaneous Local Sources Est Rev - Interfund Revenues Est Rev - State Aid Estimated - Interfund Transfer Estimated - Proceeds of Obligations Appropriated Fund Balance TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 2,231,555 A1049N 2,276,200 49,300 Al 099N 49,300 400,000 A1199N 415,000 15,150 A1299N 16,500 36,175 A2399N 35,300 58,000 A2499N 33,000 13,000 A2599N 13,500 280,000 A2649N 280,000 0 A2799N 0 0 A2801 N 0 200,000 A3099N 225,000 10101011x3 533,965 A5031 N 556,700 250,000 A5799N 1,050,000 505,944 A599N 487,907 Page 10 OSC Municipality Code 500342300000 V-1 \J 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (A) GENERAL Budget Summary Appropriations App - General Government Support 1,981,285 Al 999N 1,867,820 App - Public Safety 77,450 A3999N 88,434 App - Health 15,500 A4999N 15,500 App - Transportation 418,145 A5999N 1,259,720 App - Culture And Recreation 926,252 A7999N 996,071 App - Home And Community Services 214,050 A8999N 217,250 - Employee Benefits 7/77y.,100 A9199N 882,500 !App App - Interfund Transfer 163,307 A9999N 111,112 Page 11 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (B) GENERAL TOWN -OUTSIDE VG Balance Sheet Assets Cash Cash In Time Deposits 381,220 B200 570,813 B201 Accounts Receivable 1,598 B380 2,175 'Tt�TU ... •r �vlvabtes ( � : I11 2,17 Due From Other Governments 202,692 8440 105,522 PUMP t1TAt_ DuE from t�ttr�r Cio +emm�xnta202,89 ji, 1{iiS,S Prepaid Expenses 18,412 B480 30,792 Cash, Special Reserves 22,301 B230 38,641 Page 12 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (B) GENERAL TOWN -OUTSIDE VG Balance Sheet -4-x.','g1�; •'" { ,',8 t " .;x Y' a ., �ce e ;q ! !' �4 Accrued Liabilities 70,500 B601 74,470 Due To Other Funds B630 3,552 Due To Other Governments 8631 4,000 Page 13 OSC Municipality Code 500342300000 Miscellaneous Reserve (specify) B889 Other Restricted Fund Balance 22,301 B899 38,641 i4i' SSL1Ya�Y+!0.�4'.i _ ➢�3'.e,,,_'i`� _�". ...t . a....Yr 1���, ..�La. �S& .@, �'!R_._ Assigned Appropriated Fund Balance 85,350 B914 212,460 Assigned Unappropriated Fund Balance 429,659 B915 384,029 "73,77M 1r Unassigned Fund Balance B917 Page 13 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (B) GENERAL TOWN -OUTSIDE VG Results of Operation Co Revenues Sales Tax (from County) 943,860 B1120 987,433 Franchises 63,171 81170 72,277 QTAi_ tYait°Propertyt'r .lteuils1 O ;t1�# ; 1,Q59,71 Other General Departmental Income 167,233 B1289 183,436 Zoning Fees 2,055 82110 4,300 Planning Board Fees 18,515 B2115 15,281 Youth Recreation Services, Other Govts B2350 iATAffllnt�rgnu�rnm ! Cltarg Interest And Earnings 515 B2401 534 Permits, Other 300 B2590 200 OT144.l.t' !ss Atttl P�rmtt 2 Insurance Recoveries 1,291 B2680 Refunds of Prior Year's Expenditures 4,483 B2701 2,746 Unclassified (specify) B2770 STAT M fan L tau . 4 St Aid, State Revenue Sharing 87,654 B3001 87,654 w_ 1 i TAT. C1eh! t�sv u ,2>! , 363, Page 14 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (B) GENERAL TOWN -OUTSIDE VG Results of Operation Expenditures Auditor, Contr Expend 282,018 900 B13204 2,000 i{PMi4�ii � �. x?,a�°` ... ,F w. �... .....3 .2..... `a-a:,�:Su:pv�i d �, �. • . ' :?ati "t'�`a• £ <r i.. R'�s• �`i � ...z.;.. �7 Law, Contr Expend B80104 93,852 1314204 70,811 B90458 1,290 Planning, Pers Sery 325,994 B80201 316,836 Planning, Equip & Cap Outlay 103,643 B80202 Buildings, Equip & Cap Outlay Planning, Contr Expend 27,672 B16202 29,038 e Central Comm System, Contr Expend 1,664 B16504 1,6+25 ���.^ � ,� � �9� .'..y�'dav;� "+'x+`R �����... z�,xx."• "� ,�.y,.. .�:N i, MND.• 76,100 .�.. Central Print & Mail, Contr Expend 1,176 1316704 9,494 Central Data Process & Cap Outlay 4,706 B16802 2,125 Central Data Process, Contr Expend 16,366 B16804 17,731 Unallocated Insurance, Contr Expend 10,368 B19104 10,950 Judgements And Claims, Contr Expend 1319304 Taxes & Assess On Munic Prop, Contr Expend B19504 Zoning, Pers Sery 282,018 B80101 287,037 Zoning, Equip & Cap Outlay 19,549 B80102 45,591 Zoning, Contr Expend 10,614 B80104 11,417 Life Insurance, Empl Bnfts 955 B90458 1,290 Planning, Pers Sery 325,994 B80201 316,836 Planning, Equip & Cap Outlay 103,643 B80202 133,820 Planning, Contr Expend 27,672 B80204 29,038 State Retirement, Empl Bnfts 116,553 B90108 110,787 Social Security, Empl Bnfts 47,022 B90308 45,591 Worker's Compensation, Empl Bnfts 6,734 B90408 8,718 Life Insurance, Empl Bnfts 955 B90458 1,290 Disability Insurance, Empi Bnfts 3,351 B90558 494 Hospital & Medical (dental) Ins, Empl Bnft 103,643 B90608 133,820 e iiaiw.. 3 � Transfers, Other Funds 73,459 B99019 76,100 Page 15 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (B) GENERAL TOWN -OUTSIDE VG Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 413,240 B8021 555,722 Prior Period Adj - Decrease In Fund Equity B8015 107,799 Restated Fund Equity - Beg of Year 413,240 B8022 447,923 ADD - REVENUES AND OTHER SOURCES 1,289,077 1,353,861 DEDUCT- EXPENDITURES AND OTHER USES 1,146,595 1,135,863 Fund Equity- End of Year 555,722 88029 665,921 Page 16 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (B) GENERAL TOWN -OUTSIDE VG Budget Summary Estimated Revenues Est Rev - Non Property Tax Items 975,000 B1199N 1,000,000 Est Rev - Departmental Income 159,100 B1299N 169,500 Est Rev - Use of Money And Property 500 B2499N 500 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 87,650 Appropriated Fund Balance 85,350 B599N 212,460 Page 17 OSC Municipality Code 500342300000 (B) GENERAL TOWN -OUTSIDE VG Budget Summary Appropriations App - General Government Support App - Home And Community Services App - Employee Benefits App - Interfund Transfer TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 143,900 B1999N 804,100 B8999N 284,850 B9199N 76,100 B9999N 196,050 839,010 355,650 79,400 Page 18 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (DB) HIGHWAY -PART -TOWN Balance Sheet Assets Cash 942,509 DB200 843,358 Cash In Time Deposits DB201 Petty Cash 200 DB210 200 TOTAL wait 942,71+ 843,5 Accounts Receivable 428 DB380 Due From Other Funds 64,674 DB391 399,178 ?IQTAL e' m Othot u ° s110t4 74 991 , Due From Other Governments 211,748 DB440 158,283 Prepaid Expenses 38,968 DB480 30,222 idgExp9ttVC3Q;2 Cash Special Reserves 107,021 DB230 162,023 Page 19 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (DB) HIGHWAY -PART -TOWN Balance Sheet Liabilities Not in Spendable Form 38,968 DB806 30,222 iQT fi. IVo , s dab1 Fund ; tanceBAR Capital Reserve 62,650 DB878 105,285 Other Restricted Fund Balance 44,372 DB899 56,738 Assigned Appropriated Fund Balance 140,000 DB914 66,360 Assigned Unappropriated Fund Balance 874,020 DB915 1,187,083 Page 20 OSC Municipality Code 500342300000 CP TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (DB) HIGHWAY -PART -TOWN Results of Operation Revenues Real Property Taxes 736,589 DB1001 742,791 Sales Tax (from County) 1,550,735 DB1120 1,481,150 TOTAf. f5tca rclpTex (fedi f,650, fy4811' Transportation Services, Other Govts 17,137 DB2300 11,591 Snow Removal Services -Other Govts DB2302 18,665 Interest And Earnings 3,363 DB2401 2,824 T�3':1'Af. �sr� 1` NAor►ay An+dP„ ' . 8► �� Sales of Equipment 35,404 DB2665 42,655 Insurance Recoveries 193 DB2680 Refunds of Prior Year's Expenditures 468 DB2701 34 Unclassified (specify) 266 DB2770 3,661 St Aid, Consolidated Highway Aid 74,197 DB3501 74,184 °Y 74i TOT x,41 2 3T1, t!T wrnu M+ti: 3T7,Si!a Page 21 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (DB) HIGHWAY -PART -TOWN 196,104 DB90108 129,635 Social Security, Empl Bnfts Results of Operation DB90308 57,828 Worker's Compensation, Empl Bnfts 41,208 =r 44,005 Life Insurance, Empl Bnfts 1,255 DB90458 Expenditures Unemployment Insurance, Empl`Bnfts 5,886 DB90508 5,738 Administration-Equip&cap Outlay 3,716 DS90558 DB17102 2,125 Administration -Contractual DB90608 13,569 DB17104 69,297 s, ram, , '"�".7'"%ma�+ya" #y,� •; 4 f� o v • �. t� f gq ,dc . . yam. •. ' mow«,. +*ter'. - ,r ,.yak.,.. � : •'.: , ..., �" '� 3 y �.. Maint of Streets, Pers Sery 303,196 DB51101 285,041 Maint of Streets, Contr Expend 154,696 DB51104 167,460 Improvements, Pers Sery 31,134 DB51121 38,437 Perm Improve Highway, Contr Expend 107,532 DB51124 67,491 _ 2 Machinery, Pers Sery 80,593 DB51301 80,444 Machinery, Equip & Cap Outlay 176,541 DB51302 278,394 Machinery, Contr Expend 90,110 DB51�304 100,279 Brush And Weeds, Pers Sery 157,744 DB51401 170,473 Brush And Weeds, Contr Expend 15,650 DB51404 18,181 a _ v . q r Snow Removal, Pers Sery 170,128 DB51421 85,727 Snow Removal, Contr Expend 159,045 DB51424 111,071 State Retirement, Empl Bnfts 196,104 DB90108 129,635 Social Security, Empl Bnfts 64,411 DB90308 57,828 Worker's Compensation, Empl Bnfts 41,208 DB90408 44,005 Life Insurance, Empl Bnfts 1,255 DB90458 1,536 Unemployment Insurance, Empl`Bnfts 5,886 DB90508 5,738 Disability Insurance, Empl Bnfts 3,716 DS90558 641 Hospital & Medical (dental) Ins, Empi Bnft 158,962 DB90608 192,561 Transfers, Other Funds 208,524 DB99019 153,740 Page 22 OSC Municipality Code 500342300000 (DB) HIGHWAY -PART -TOWN Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Prior Period Adj - Decrease In Fund Equity 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 2012 881,661 DB8021 1,160,009 DB8015 31,773 881,661 DB8022 1,128,236 2,418,352 2,377,555 2,140,004 2,060,103 1,160,009 DB8029 1,445,693 Page 23 OSC Municipality Code 500342300000 • TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (DB) HIGHWAY -PART -TOWN Budget Summary F Estimated Revenues Est Rev - Real Property Taxes 743,000 DB1049N 999,300 Est Rev - Non Property Tax Items 1,350,000 131311 99N 1,400,000 EsT. ReV. - Intergovernmental Charges 15,000 D82399N 10,000 Est Rev - Use of Money And Property 3,500 DB2499N 3,000 Est Rev - Sale of Prop And Comp For Loss 25,000 DB2699N 25,000 Est Rev - State Aid 74,000 DB3099N 74,000 Estimated - Proceeds of Obligations 250,000 DB5799N 1,200,000 Appropriated Fund Balance 140,000 DB599N 66,360 Page 24 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (DB) HIGHWAY -PART -TOWN Budget Summary Appropriations App - Transportation 1,977,910 DB5999N 3,103,710 App - Employee Benefits 468,850 DB9199N 515,100 ` AP rtatRI Interfund Transfers 153,740 DB9999N 158,850 Page 25 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (FX) WATER Balance Sheet Accounts Receivable FX380 Due From • 00 0�� � r .Prepaid Expenses 1,240 FX480 4,43:2 Cash Special Reserves 8,205 FX230 8,21 'A Page 26 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (FX) WATER Balance Sheet Not in Spendable Form 1,240 FX806 4,433 Nig i , I+iotsrldErbtil Eiiitt"' 1il�taiC;2 101 ",. Other Restricted Fund Balance 8,205 FX899 8,217 'CC1T R W Fund Bata #�; Assigned Appropriated Fund Balance FX914 Assigned Unappropriated Fund Balance 1,132,570 FX915 1,331,876 Page 27 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (FX) WATER Results of Operation Revenues Special Assessments Ad Valorem 7,387 FX1028 7,500 Special Assessments 682,259 FX1030 725,083 QTAL Ft+a Pr TSxas Metered Water Sales 2,400,481 FX2140 2,619,251 Water Service Charges 10,361 FX2144 13,309 Interest & Penalties On Water Rents 14,388 FX2148 21,608 OTAt. t&tulit�rtttrl'tnco 2,425, 2,t754,1 Service For Other Govts 704 FX2378 546 !rkl+rtt'varttrttirrttd «ar , 54 Interest And Earnings 3,563 FX2401 2,072 TCit _' IJb o tO , 3 f! Insurance Recoveries 514 FX2680 994 In lial, 'T4lT/t aOf i; .' trrt i.!)11 Refunds of Prior Year's Expenditures 60,810 FX2701 Unclassified (specify) FX2770 160 T � t8tt, 3 6 Interfund Transfers FX5031 30,167 Page 28 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (FX) WATER Central Data Process & Cap Outlay 2,623 FX16802 4,809 Central Data Process, Contr Expend 13,884 FX16804 11,983 Administration -Contractual 3,200 FX17104 4,150 Unallocated Insurance, Contr Expend 21,752 FX19104 17,523 Water Administration, Pers Sery 38,814 FX83101 39,138 Water Administration, Contr Expend FX83104 Water Administration, Empl Bnfts FX83108 Water Trans & Distrib, Pers Sery 108,320 FX83401 120,454 Water Trans & Distrib, Equip & Cap Outlay 37,849 FX83402 91,534 Water Trans & Distrib, Contr Expend 234,015 FX83404 486,911 Common Water Supply, Contr Expend 1,470,022 FX83504 1,660,710 State Retirement, Empl Bnfts 13,041 FX90108 14,538 Social Security, Empl Bnfts 7,803 FX90308 9,347 Workers Compensation, Empl Bnfts 3,946 FX90408 4,431 Life Insurance, Empl Bnfts 244 FX90458 220 Unemployment Insurance, Empl Bnfts 527 FX90508 517 Disability Insurance, Empl Bnfts 774 FX90558 84 Hospital & Medical (dental) Ins, Empl Bnft 33,282 FX90608 27,147 Transfers, Other Funds 1,285,507 FX99019 713,525 Transfers, Capital Projects Fund FX99509 3,723 Page 29 OSC Municipality Code 500342300000 (FX) WATER Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Prior Period Ad] - Decrease In Fund Equity 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 2012 1,243,305 FX8021 1,142,016 FX8015 0 1,243,305 FX8022 1,142,015 3,180,467 3,420,692 3,281,757 3,218,181 1,142,016 FX8029 1,344,532 Page 30 OSC Municipality Code 500342300000 (FX) WATER Budget Summary Estimated Revenues Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Departmental Income Est Rev-Intergovemmental Charges TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 732,583 FX1049N 758,212 0 FX1099N 2,387,500 FX1299N 2,925,000 0 FX2399N Est Rev - Use of Money And Property 3,800 FX2499N 3,000 Estimated - Proceeds of Obligations 1,200,000 FX5799N 600,000 Appropriated Fund Balance -158,153 FX599N -270,075 Page 31 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (FX) WATER Budget Summary . _Approprlatlons App - General Government Support 66,995 FX1999N 50,900 App -Home And Community Services 3,325,010 FX8999N 3,283,820 App - Employee Benefits 60,200 FX9199N 67,500 App - Interfund Transfer 713,525 FX9999N 613,917 Page 32 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (G) SEWER Balance Sheet Assets Cash 859,421 G200 1,402,742 Page 33 OSC Municipality Code 500342300000 OTWTAU911•1 '"� l r k ��. «,�a�,�3.,... 7"" u 5 ^e ? s two Page 33 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (G) SEWER Balance Sheet Liabilitles Accrued Liabilities 2,729 G601 20,348 Due To Other Funds 222,915 G630 18,868 Quite Oth ' �'unda �° 222;916 t8, Due To Other Governments G631 315,000 Not in Spendable Form 75,290 G806 3,429 70i` Norrspanda 'l � sd .:Malan.. � �_ Other Restricted Fund Balance 85,796 G899 85,804 JimBFi+tt• Cfartiittlti Balak �.. Assigned Appropriated Fund Balance 88,182 G914 202,371 Assigned Unappropriated Fund Balance 709,586 G915 1,004,525 Page 34 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (G) SEWER Results of Operation .G Revenues Special Assessments Ad Valorem 7,447 G1028 8,500 Special Assessments 144,657 G1030 192,843 Sewer Rents 1,943,462 G2120 2,209,242 Interest & Penalties On Sewer Accts 11,180 G2128 13,899 Misc Revenue, Other Govts G2389 'i7i"M' IrybKg4Vllkftl iM a. c Interest And Earnings 925 G2401 1,644 s. Refunds of Prior Year's Expenditures 152 G2701 205 Unclassified (specify) G2770 190 'fQT IsG!! n s vocal 1; St Aid, Sewer Cap Proj 92,670 G3990 311,421 Interfund Transfers 5,079 G5031 1 Chtft' titrrt Page 35 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (G) SEWER Results of Operation Expenditures Administration -Contractual 22,937 G17104 26,867 Unallocated Insurance, Contr Expend 10,150 G19104 10,822 Sewer Administration, Pers Sery 22,797 G81101 22,640 Social Security, Empl Bnfts 3,069 G90308 3,521 Sanitary Sewers, Pers Sery 40,266 G81201 43,328 Sanitary Sewers, Equip & Cap Outlay 14,653 G81202 63,695 Sanitary Sewers, Contr Expend 150,494 G81204 230,818 Disability Insurance, Empl Bnfts 331 G90558 64 Joint Sewer Project, Contr Expend 1,269,608 G81504 1,724,760 State Retirement, Empl Bnfts 11,261 G90108 11,437 Social Security, Empl Bnfts 3,069 G90308 3,521 Worker's Compensation, Empl Bnfts 1,207 G90408 1,427 Life Insurance, Empl Bnfts 98 G90458 148 Unemployment Insurance, Empl Bnfts 351 G90508 280 Disability Insurance, Empl Bnfts 331 G90558 64 Hospital & Medical (dental) Ins, Empl Bnft 13,489 G90608 20,864 901 Transfers, Other Funds 282,324 G99019 160,000 T Ck •t � 6ti, i't3T 32 1 Page 36 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (G) SEWER Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY - Fund Equity - Beginning of Year 596,317 G8021 958,854 Prior Period Ad] - Decrease In Fund Equity G8015 80,000 Restated Fund Equity- Beg of Year 596,317 G8022 878,854 ADD - REVENUES AND OTHER SOURCES 2,205,573 2,737,945 DEDUCT- EXPENDITURES AND OTHER USES 1,843,036 2,320,671 Fund Equity - End of Year 958,854 G8029 1,296,134 Page 37 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (G) SEWER Budget Summary Estimated Revenues Est Rev - Real Property Taxes 201,343 G1049N 197,669 Est Rev - Real Property Tax Items 0 G1099N Est Rev - Departmental Income 2,120,000 G1299N 2,075,000 Est Rev-Intergovemmental Charges 0 G2399N Est Rev - Use of Money And Property 1,000 G2499N 1,500 �TAl. Estimated R ronu '' 32Z W 2;27 1' Appropriated Fund Balance 88,182 G599N 202,371 Page 38 OSC Municipality Code 500342300000 (G) SEWER Budget Summary Appropriations App - General Government Support App - Home And Community Services App - Employee Benefits App - Interfund Transfer TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 50,675 G1999N 42,800 2,157,340 G8999N 2,220,620 42,510 G9199N 48,120 160,000 G9999N 165,000 Page 39 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (H) CAPITAL PROJECTS Balance Sheet Due From Other Funds 67,500 H391 Page 40 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (H) CAPITAL PROJECTS Balance Sheet Liabilities Accrued Liabilities H601 Retained Percentages, Cont Pay 66,948 H605 Bond Anticipation Notes Payable H626 MOM Due To Other Funds 377,997 H630 755,006 Unassigned Fund Balance H917 -397,526 Page 41 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (H) CAPITAL PROJECTS Results of Operation Revenues Misc Revenue, Other Govts 39,340 H2389 Interest And Earnings 1,536 H2401 2,101 St Aid, Trans Cap Grants (spec) •1. -. Aid .. Projects 306,835419 � ..w�•, a a�a�': •tea i �- a 9� �^, . r ``'e�' �g .ya sR," a..e x f �'�i,'Po'.bgp � ° ` a� � A, . �, ,q . Interfund Transfers 853,982 H5031 102,750 a Serial Bonds 2,650,000 H5710 fi. f lotMOM l: b 04 Page 42 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (H) CAPITAL PROJECTS Results of Operation Expenditures Buildings, Equip & Cap Outlay 174,584 H16202 63,846 Perm Improve Highway, Equip & Cap Outlay 329,702 H51122 238,270 T�tl. IznpravR kflghv�+ 3257,, Z38 2 , Other Transportation, Equip & Cap Outlay 327,314 H59892 Parks, Equip & Cap Outlay Water Trans & Distrib, Equip & Cap Outlay H71102 1,521,394 H83402 1,162,070 1qT Transfers, Other Funds 14,737 H99019 478,657 v , a4"��yiz"rf�4����� �+,, k� � , : � �:. ; °,s ,, "r �?� a � � _ � n��°:�.iE� '°"" ,$r e a �` �'�rLr✓� Page 43 OSC Municipality Code 500342300000 (H) CAPITAL PROJECTS 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 2012 -365,402 H8021 1,440,467 -365,402 H8022 1,440,467 4,173,599 104,851 2,367,731 1,942,844 1,440,467 H8029 -397,526 Page 44 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (K) GENERAL FIXED ASSETS Balance Sheet Assets Land 293,163 K101 257,552 Buildings 3,002,560 K102 2,887,864 Improvements Other Than Buildings 57,020 K103 63,469 Machinery & Equipment 2,063,038 K104 2,096,514 Construction Work In Progress 1,335,069 K105 1,132,915 Infrastructure 6,157,605 K106 8,477,260 Page 45 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (K) GENERAL FIXED ASSETS Balance Sheet Fund Equity Total Non -Current Govt Assets 12,908,455 K159 14,915,574 Page 46 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (SF) FIRE PROTECTION Balance Sheet Assets Cash 322,972 SF200 666,362 Cash In Time Deposits SF201 Page 47 - OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (SF) FIRE PROTECTION Balance Sheet Llabllitles Accrued Liabilities 248,165 SF601 163,594 Assigned Unappropriated Fund Balance 74,808 SF915 Page 48 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (SF) FIRE PROTECTION Results of Operation Revenues Real Property Taxes 3,369,067 SF1001 3,629,717 Other Payments In Lieu of Taxes 9,591 SF1081 10,482 i'llillolill7 Ai.,Ei�B F COp rte(<, 6-44 Writ Other Public Safety Departmental Income SF1589 EarningsInterest And •0 �� b �� € �.� ExpendituresRefunds of Prior Year's iiij �`.�`dv._ "`�Y...waiNa.".u m 'Au$ 4,e'« , y E iSt Aid, Other Aid (specify) 26,212 SF3089 24,510 9 W � € e e" i P "'Pi i '� �"� ;: 8� h. `d 4i v 'k $. � � @ate, ',. � aT $ k "�% 84. •-, q . E .w 'b, �°i' ,.... . .. _ .. e S .. �. ., ! f • 0 € G 4+S ebb Ir 'C' S af. ''s °th s� �Y e � e "�i�Li Page 49 OSC Municipality Code 500342300000 (SF) FIRE PROTECTION Results of Operation Expenditures Fire Protection, Contr Expend Fire Protection, Empl Ben TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 3,494,245 SF34104 3,252,220 SF34108 Page 50 OSC Municipality Code 500342300000 (SF) FIRE PROTECTION Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity- Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 13,131 SF8021 74,808 13,131 SF8022 74,808 3,555,922 3,680,180 3,494,245 3,252,220 74,808 SF8029 502,765 Page 51 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (SL) LIGHTING Balance Sheet Assets Cash 10,739 SL200 9,807 Cash In Time Deposits SL201 Page 52 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (SL) LIGHTING Balance Sheet Liabilities Accrued Liabilities 328 SL601 Assigned Appropriated Fund Balance 1,025 SL914 1,695 Assigned Unappropriated Fund Balance 9,386 SL915 8,112 Page 53 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (SL) LIGHTING Results of Operation Revenues Real Property Taxes 13,150 SL1001 11,945 Interest And Earnings 30 SL2401 19 TOt:' tts� M ayAnd Pro t ... a a a - o u - .. ��'^�— ....E ! s o ..+ __ s >a... .. 51 v + , Page 54 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (SL) LIGHTING Results of Operation Expenditures Street Lighting, Contr Expend 12,454 SL51824 12,568 4 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 2012 9,685 SL8021 10,410 9,685 SL8022 10,410 13,180 11,964 12,454 12,568 10,410 SL8029 9,805 Page 56 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (TA) AGENCY Balance Sheet Assets Cash 113,242 TA200 106,753 Page 57 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (TA) AGENCY Balance Sheet Liabilities Due To Other Funds TA630 Consolidated Payroll TA10 Disability Insurance TA19 169 Group Insurance 10,239 TA20 8,281 Guaranty & Bid Deposits 1,655 TA30 1,655 Other Funds (specify) 101,348 TA85 96,648 Page 58 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (TE) PRIVATE PURPOSE TRUST Balance Sheet Assets Cash 9,050 TE200 9,061 Page 59 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (TE) PRIVATE PURPOSE TRUST Balance Sheet Fund Equity Net Assets -Restricted For Other Purposes 9,050 TE923 9,061 Page 60 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (TE) PRIVATE PURPOSE TRUST Results of Operation Revenues Page 61 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (TE) PRIVATE PURPOSE TRUST Results of Operation Expenditures Other Gen Gov Support, Contr Expend TE19894 Misc Home & Comm Sero, Cont Expend TE89894 Page 62 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (TE) PRIVATE PURPOSE TRUST Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity Beginning of Year 9,034 TE8021 9,050 Restated Fund Equity - Beg of Year 9,034 TE8022 9,050 ADD - REVENUES AND OTHER SOURCES 16 11 DEDUCT - EXPENDITURES AND OTHER USES Fund Equity End of Year 9,050 TE8029 9,061 Page 63 OSC Municipality Code 500342300000 (V) DEBT SERVICE Balance Sheet Cash Cash In Time Deposits f TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 54,957 V200 460,684 V201 Page 64 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (V) DEBT SERVICE Balance Sheet Other Liabilities 500 V688 Assigned Appropriated Fund Balance 40,000 V914 177,650 Assigned Unappropriated Fund Balance 14,457 V915 283,034 Page 65 OSC Municipality Code 500342300000 16 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (V) DEBT SERVICE Results of Operation Revenues Interest And Earnings 1,0391 V5031 1,102,694 PI .'_,. '° .. ...... ' _......,......d�IRIW"T. iQ_._ p • � Y - 4 �7 "p" % ���` SAS -ka ra$ 2 4 .� 1 � � "�,� s -^n �t � �, �� Page 66 OSC Municipality Code 500342300000 G TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (V) DEBT SERVICE Results of Operation rta 1 111[=!s1111 111 xS Expenditures Fiscal Agents Fees, Contr Expend 1,375 V13804 2,800 Debt Principal, Serial Bonds 653,000 V97106 493,000 Debt Principal, Bond Anticipation Notes V97306 yg3M., 9. ib Debt Interest, Serial Bonds 161,118 V97107 201,210 Debt Interest; Bond Anticipation Notes - - V97307 Page 67 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (V) DEBT SERVICE Changes in . Equity :7 .,r?8T"F W,ea}"��tl p � � 8 a ° �'.a�3 �a F a„ •�°° (.a�°, @:"• "l ,® a!t'�-.G• *.!.. ,. �3.: ..� 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 94,092 V8021 54,457 94,092 V8022 54,457 775,857 1,103,237 815,493 697,010 54,457 V8029 460,684 Page 68 OSC Municipality Code 500342300000 0 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (W) GENERAL LONG-TERM DEBT Balance Sheet Assets Total Non -Current Govt Liabilities • 6,293,302 W129 5,800,650 Page 69 OSC Municipality Code 500342300000 TOWN OF Ithaca Annual Update Document For the Fiscal Year Ending 2012 (W) GENERAL LONG-TERM DEBT Balance Sheet General Long Term Debt Bond Anticipation Notes Payable W626 Compensated Absences 140,302 W687 140,650 6,153,000 W628 Page 70 OSC Municipality Code 500342300000 TOWN OF Ithaca Financial Comments For the Fiscal Year Ending 2012 %) GENERAL ydiustment Reason Account Code A8015 Adjust Beginning Fund Balance so total in AUD equals total in Town's books. 3) GENERAL TOWN -OUTSIDE VG Ldiustment Reason Account Code B8015 To record prior year audit adjustment reversing $107,799.06 sales tax accrual and adjust beginning balance in AUD to equal beginning balance in Town books. DB) HIGHWAY -PART -TOWN ldiustment Reason Account Code DB8015 Adjust beginning fund balance to reflect prior year adjustmets to reverse sales tax accrual and snow/ice agreement revenue accrual, and to adjust beginning balance in AUD to match beginning balance in Town's books. FX) WATER ,diustment Reason Account Code FX8015 Adjust beginning fund balance to match total in AUD with total in Town's books. "G) SEWER adjustment Reason Account Code G8015 Adjust beginning fund balance to reflect prior year accrual for $80,000 legal liability, and adjust total in AUD to match total in Town's books. Page 71 OSC Municipality Code 50C Office of the State Comptroller i OWPI yr nnaca 3/31/2013 Statement of Indebtedness For the Fiscal Year Ending 2012 County of: Tompkins Municipal Code: 500342300000 First Debt Year Code Cops Comp Description Flag Flag Date of Date of Issue Maturity Int. Rate yao Amt. Orig. Issued O/S Beg. of Year Paid Dur. Year Redeemed Bond Proc. Prior Yr. Adjust. O/S End of Year 2003 BOND Public Imp (Serial) Bond Y 12/29/2003 12/29/2017 3.95% $1,000,000 $427,000 $71,000 $0 $0 $356,000 2004 BOND E Public Improvement (Serial) 02/12/2004 02/12/2019 3.88% $1,000,000 $536,000 $67,000 $0 $0 $469,000 Bd 2011 BOND E Public Improvement Bond - Y 09/01/2011 09/01/2031 2.96% $2,650,000 $2,650,000 $130,000 $0 $0 $2,520,000 2011 2004 BOND Public Improvement (Serial) 05/15/2004 05/15/2024 4.346% $2,000,000 $1,300,000 $100,000 $0 $0 $1,200,000 Bd 2005 BOND E South Hill Water Tank & Main 09/28/2005 09/28/2015 3.60% $500,000 $240,000 $60,000 $0 $0 $180,000 2009 BOND E Pub Imp (Serial) Bond 10/01/2009 10/01/2024 0.032% AFR Year Total for Type/Exempt Status - Sums Issued Amts only made In AFR Year AFR Year Total for All Debt Types - Sums Issued Amts only made in AFR Year Page 72 $1,125,000 $1,000,000 $65,000 $0 $0 $935,000 $0 $6,153,000 $493,000 $0 $0 $5,660,000 $0 $6,153,000 $493,000 $0 $0 $5,660,000 TOWN OF Ithaca Schedule of Time Deposits and Investments For the Fiscal Year Ending 2012 Page 73 OSC Municipality Code 500342300000 EDP Code Amount CASH: On Hand 9Z2001 $925.00 Demand Deposits 922011 $8,096,790.52 Time Deposits 922021 $0.00 Total $8,097,715.52 COLLATERAL: - FDIC Insurance 9Z2014 $250,000.00 Collateralized with securities held in possession of municipality or its agent 9Z2014A $10,683,668.00 Total $10,933,668.00 INVESTMENTS: - Securities (450) Book Value (cost) 924501 $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 73 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 *****-2604 *****-2604 *****-2604 *****-2604 TOWN OF Ithaca Bank Reconciliation For the Fiscal Year Ending 2012 Include All Checking, Savings and C.D. Accounts Page 74 OSC Municipality Code 500342300000 Add: Less: Adjusted Bank Deposit Outstanding Bank Balance In Transit Checks Balance $1,909,265 $0 $0 $1,909,265 $682,410 $0 $0 $682,410 $500,081 $70,795 $0 $570,876 $843,466 $0 $0 $843,466 $105,294 $0 $0 $105,294 $653,974 $0 $0 $653,974 $1,097,800 $0 $0 $1,097,800 $304,823 $0 $0 $304,823 $100,367 $0 $0 $100,367 $35,041 $0 $0 $35,041 $87,316 $0 $0 $87,316 $9,290 $0 $0 $9,290 $6,281 $0 $0 $6,281 $102,597 $0 $0 $102,597 $11,737 $0 $0 $11,737 $4,880 $0 $0 $4,880 $103,725 $0 $0 $103,725 $666,472 $0 $0 $666,472 $4,495 $0 $0 $4,495 $11,827 $0 $0 $11,827 $4,587 $0 $0 $4,587 $11,421 $0 $0 $11,421 $61,550 $0 $0 $61,550 $271 $0 $0 $271 $875 $0 $0 $875 $11,757 $0 $0 $11,757 $9,061 $0 $0 $9,061 $460,747 $0 $0 $460,747 $215,876 $0 $0 $215,876 Page 74 OSC Municipality Code 500342300000 Bank Account Number *****-2604 TOWN OF Ithaca Bank Reconciliation For the Fiscal Year Ending 2012 Include All Checking, Savings and C.D. Accounts Add: Less: Adjusted Bank Deposit Outstanding Bank Balance In Transit Checks Balance $9,807 Total Adjusted Bank Balance Petty Cash Adjustments Total Cash Total Cash Balance All Funds * Must be equal $0 9ZCASH 9ZCASHB $0 $9,807 $8,097,889 $925.00 $-1,098.66 $8,097,716 $8,097,976 Page 75 OSC Municipality Code 500342300000 TOWN OF Ithaca Local Government Questionnaire For the Fiscal Year Ending 2012 Response 1) Does your municipality have a written procurement policy? Yes 2) Have the financial statements for your municipality been independently audited? No If not, are you planning on having an audit conducted? Yes 3) Does your local government participate in an insurance pool with other local Yes 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 76 TOWN OF Ithaca Employee and Retiree Benefits For the Fiscal Year Ending 2012 Total Full Time Employees: 4 ` Total Part Time Employees: 2 Account Code Description Total Expenditures (Ail Funds) # of Full Time Employees # of Part Time Employees # of Retirees 90108 State Retirement System $539,021.01 90158 Police and Fire Retirement 90258 Local Pension Fund 90308 Social Security $226,634.66 47 2 9040 Worker's Compensation Insurance $83,850.00 47 2 90458 Life Insurance $6,252.65 47 2 90508 Unemployment Insurance $8,556.5 90558 Disability Insurance $2,452.56 47 2 9060 Hospital and Medical (Dental) Insurance $737,559.8 4 1 90708 Union Welfare Benefits 90858 Supplemental Benefit Payment to Disabled Fire Fighters 91890 Other Employee Benefits Total $1,604,327.2 omputed Total From Financial ection (comparative purposes only) $1,604,327.2 Page 77 OSC Municipality 500342300000 TOWN OF Ithaca Energy Costs and Consumption For the Fiscal Year Ending 2012 Energy Type Total Total Volume Units Of Alternative Expenditures Measure Units Of Measure asoline $58,75 18,71 gallons Diesel Fuel IF $61,28 17,52�1 gallons Fuel Oil I 1 11 gallons Natural Gas $17,74 16,87�1 cubic feet CF Electricity $141,48 968,54111 kilowatts oal Itons Page 78 OSC Municipality 500342300000 TOWN OF Ithaca Schedule of Other Post Employment Benefits (OPEB) For the Fiscal Year Ending 2012 Annual OPEB Cost and Net OPEB Obligation 1. Type of Other Post Employment Benefits Plan Single -Employer Defined Benefits 2. Annual Required Contribution (ARC) $671,466.00 3. Interest on Net OPEB Obligation $29,560.00 4. Adjustment to Annual Required Contribution ($38,070.00) 5. Annual OPEB Expense $662,956.00 6. Less: Actual Contribution Made $48,170.00 7. Increase in Net OPEB Obligation $614,786.00 8. Net OPEB Obligation - beginning of year $985,330.00 9. Net OPEB Obligation - end of year $1,600,116.00 10. Total Other Post Employment Benefits as reported in Accounts 683 in Financial Section, Current Fiscal Year 11. Percentage of Annual OPEB Cost Contributed (Actual Contribution 7.27% Made/Annual OPEB Cost) Funded Status and Funding Process 12. Actuarial Accrued Liability(AAL) $6,513,090.00 13. Less: Actuarial Value of Plan Assets $0.00 14. Unfunded Actuarial Accrued Liability(UAAL) $6,513,090.00 15. Funded Ratio(Actuarial Value of Plan Assets/AAL) 0.0000 16. Annual Covered Payroll (of active employees covered by the plan) $2,521,437.00 17. UAAL as Percentage of Annual Covered Payroll 258.31% Other OPEB Information 18. Date of most recent actuarial valuation 12/31/2011 19. Actuarial method used Alternative 20. Assumed rate of return on investments discount rate 4.00% 21. Amortization period of UAAL(in years) 28.00 Page 79 OSC Municipality 500342300000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Herber 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 12/31/2012 , 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 12/31/2012 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 03/31/2012 Date of Certification Herbert J. Engman Name Town Supervisor Title 215 N. Tioga Street, Ithaca, NY 148; Official Address (607) 273-1721 Official Telephone Number Page 80 Municipality Code 500342300000 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 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 Entit 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 "light 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 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. 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. Page 1 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 B. Basis of Presentation - Fund Accounting The accounts of the Town are organized on the basis of funds or account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for within a separate set of self -balancing accounts that comprise its assets, liabilities, fund balance, revenues and expenditures which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions and limitations. The various funds are summarized by type in the financial statements. (Certain funds of the Town are utilized to account for resources derived from, and/or expenditures applicable to an area less than the entire Town.) The following fund types and account groups are used: 1. Fund Categories a. Governmental 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. LIGHT DISTRICTS 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 light district. Street lighting in nine separate light 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, 2012, the Town of Ithaca had eight active capital project funds. Page 2 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 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 liabilities, and any vested or unpaid accumulated employee benefits to be provided for in future budgets. C. Basis of Accounting/Measurement Focus Basis of accounting refers to when revenues and expenditures and the related assets and liabilities are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus. Measurement focus is the determination of what is measured. (e.g. expense or revenue) Modified Accrual Basis - all Governmental Funds and Expendable Trust Funds are accounted for using the modified accrual basis of accounting. Under this basis of accounting, revenues are recorded when measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. 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. Page 3 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 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 -K (Pg 5). 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 - Capital assets are recorded at actual or estimated cost or, in the case of gifts and donations, at the fair market value at the time received. For the year ending December 31, 2012, 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. F. Fund Balance In fiscal 2011, the Town of Ithaca implemented Governmental Accounting Standards Board Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions (GASB 54). GASB 54 changed the classification of fund balance to focus on the constraints imposed on resources in governmental funds, instead of the previous focus on availability for appropriation. Fund balance is broken down into five different classifications: nonspendable, restricted, committed, assigned, and unassigned. • Nonspendable Fund Balance: Consists of assets that are inherently nonspendable in the current period either because of their form or because they must be maintained intact, including prepaid items, inventories, long-term portions of loans receivable, financial assets held for resale, and principal of endowments. The Town's nonspendable fund balance is comprised of prepaid expenses. • Restricted Fund Balance: Consists of amounts that are subject to externally enforceable legal purpose restrictions imposed by creditors, grantors, contributors, or laws and regulations of other governments; or through constitutional provisions or enabling legislation. The Town's restricted fund balance includes a general purpose benefit reserve, a parks and open space plan reserve, a highway equipment reserve, and a reserve for cemetery maintenance, and an amount related to a legal settlement. • Committed Fund Balance: Consists of amounts that are subject to a purpose constraint imposed by a formal action of the government's highest level of decision-making authority, the Town Board, before the end of the fiscal year, and that require the same level of formal action to remove the constraint. • Assigned Fund Balance: Consists of amounts that are subject to a purpose constraint that represents an intended use established by the government's highest level of decision-making authority, or by their designated body or official. The purpose of the assignment must be narrower than the purpose of the general fund, and in funds other than the general fund, assigned fund balance represents the residual amount of fund balance. In the General Fund, assigned fund balance represents the portion of fund balance appropriated for the ensuing year's budget. • Unassigned Fund Balance: Represents the residual classification for the government's general fund, and could report a surplus or deficit. In funds other than the general fund, the unassigned classification should be used only to report a deficit balance resulting from overspending for specific purposes for which amounts had been restricted, committed, or assigned. Page 4 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 The Town's policy is to apply expenditures against nonspendable fund balance, restricted fund balance, committed fund balance, assigned fund balance and unassigned fund balance at the end of the fiscal year. For all funds, nonspendable fund balances are determined first and then restricted fund balances for specific purposes are determined. Any remaining fund balance amounts for funds other than the General Townwide Fund are classified as committed or assigned fund balance. In the General Townwide Fund, committed fund balance is determined next and then assigned fund balance. The remaining amounts are reported as unassigned. G. Capital Assets Capital assets, which include property, plant, equipment, and infrastructure assets, are reported in the General Fixed Assets Account Group. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at fair market value at the date of donation. Major outlays for capital assets and improvements are capitalized as projects are constructed. The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend the assets lives are not capitalized. The costs associated with the acquisition or construction of capital assets are shown as capital outlay expenditures in governmental funds. Capital assets are not shown on governmental fund balance sheets. H. 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. I. 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, 2012 the Town of Ithaca has no investments in certificates of deposit. J. Unemployment Insurance The Town assumes the liability for most risk including, but not limited to, property damage and personal injury liability. Judgments and claims are recorded when it is probable that an asset has been impaired or a liability has been incurred, and the amount of loss can be reasonably estimated. 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. K. Compensated Absences Employees accrue 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 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. Page 5 L. TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 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 $348 during the year to $140,650 as reported in the General Long -Term Debt Account Group. Other Post -Employment Benefits (OPEB) Plan Description. The Town of Ithaca administers a single -employer defined benefit healthcare plan (the Retiree Health Plan). The plan provides lifetime healthcare insurance for eligible retirees and their spouses through the Town's group health insurance plan, which covers both active and retired members. The Town pays a portion of retiree's premiums for healthcare insurance based on the number of years. of service at the time of retirement. Funding Policy. The Town contributes a portion of the retiree's healthcare premium according to the following schedule: iE RS OF SE+Ru1C« - OWN C©N RI$UTION -------- _ __ _ .. _— - ----- -- — -- ----- -- 30 and over 25-29 _ �_ 50.0% _ 15-24 35.0% 5 - 14 25.0% Less than 5 �— � ii-- 0.0% 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 (ARC) of the employer. 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. Annual Required Contribution $ 671,466 Interest on Net OPEB Obligation 29,560 Adjustment to Annual Required Contribution (38,070 Annual OPEB Expense $ 662,956 Contributions Made - Current Year (48,170 Increase in Net OPEB Obligation $ 614,786 Beginning Net OPEB Obligation $ 985,330 Ending Net OPEB Obligation $ 1,600,116 Funded Status and Funding Progress. As of December 31, 2011, the actuarial accrued liability for benefits was $6,513,090, all of which was unfunded. The covered payroll (annual payroll of active employees covered by the plan) was $2,521,437 and the ratio of the unfunded actuarial accrued liability to the covered payroll was 258.31%. Page 6 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 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. 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, 2011 was twenty-eight 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, 2012 there were six retirees spending down a cumulative balance of $71,473 and thirteen employees who had reached retirement age with a cumulative balance of $118,791. The total liability was $190,264 at December 31, 2012. The Town calculates this liability separately from its OPEB liability under GASB Statement 45. The Retiree Health Plan does not issue a publicly available financial report. M. 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. Budgetary Data 1. Budget Policies - The budget policies are as follows: a. No later than October 5th, the Town Supervisor and the Town Finance 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 2012 Town Budget was adopted October 17, 2011 under Board Resolution No. 2011-167. Page 7 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 The Town Board must approve all budget amendments and modifications. However, the Town Supervisor and Town Finance 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, 2012, 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. B. Deficit Fund Balances - The Capital Project Fund had a deficit fund balance of $397,526 at December 31, 2012. This deficit will be eliminated as permanent long-term financing is issued in 2013. C. Overdrawn Appropriations - Expenditures for the year ended December 31, 2012 materially exceeded appropriations in the funds and/or functions identified below: ll'OSCRI�PTION �PROPR TIONS krXI'ENDI URES & i1NFA�O � Li; GENERAL ToWNWIDE FUND Employee Education & Training $ 3,000 $ 14,846 $ (11,846) Town Hall - Furniture & Furnishings 5,000 7,856 (2,856) Town Hall - Contractual Services 3,000 12,632 (9,632) Highway Garage - Garage Maintenance 20,000 24,559 (4,559) Land Acquisition - 50,438 (50,438) Traffic & Transportation - Road Signs 5,000 9,351 (4,351) Drainage & Stormwater Management 133,350 223,966 (90,616) HIGHWAY PART -TOWN FUND Machinery - Vehicle Maintenance 70,000 83,975 (13,975) WATER FUND Common Water Supply 1,558,500 1,660,709 (102,209) EMPLOYEE BENEFITS NYS Retirement Systems 407,000 539,021 (132,021) Page 8 TOWN OF ITHACA NOTES TO FINANCIAL, STATEMENTS For the Year Ended December 31, 2012 D. Property Taxes Town real property taxes are levied annually on January 1, and become a lien on that date. Property owners can elect to pay their taxes using one of two options. Taxpayers may elect to pay their bill in two installments equal to one-half the total bill, plus a 2.5 percent processing fee. If the installment option is selected, the first payment is due between January 1 and January 14, without penalty, or between January 15 and January 20 with 1 percent interest (election to pay in installments ceases January 20). The second installment is due on or before July 1, payable to the County Division of Budget and Finance. Taxpayers may elect to pay their tax bill in full. Using this method, taxes are collected during the period January 1 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. 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, 2012 totaled $8,096,791. These deposits were fully collateralized by securities with a fair market value at December 31, 2012 of $10,683,668 or 136%. Page 9 B. TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 2. Changes in Capital Assets - A summary of changes in general fixed assets as follows: 3. Other Receivables - The Town had the following receivables at December 31, 2012: GENERAL TOWNWIDE FUND A ANGE T $ 37,722 GENERAL TOWNWIDE FUND BALANGF, AT DESCRIPTIO Ni!rift k2 ADDI IONS DELETIO S 1213 UI2 Land $ 293,163 $ - $ 35,611 $ 257,552 Buildings 3,002,560 1,262 115,958 2,887,864 Non -Building Improvements 57,020 11,887 5,438 63,469 Machinery & Equipment 2,063,038 438,858 405,382 2,096,514 Infrastructures 6,157,605 2,542,346 222,691 8,477,260 Construction in Progress 1,335,069 1,132,915 1,335,069 1,132,915 TOTAL $ 12,908,455 $ 4,127,268 $ 2,120,149 $ 14,915,574 3. Other Receivables - The Town had the following receivables at December 31, 2012: GENERAL TOWNWIDE FUND Due from Other Funds $ 37,722 GENERAL TOWNWIDE FUND Due from Other Governments (Sales Tax) 46,899 GENERAL PART -TOWN FUND Due from Other Governments (Sales Tax) 105,522 HIGHWAY PART-TowN FUND Due from Other Funds 399,178 HIGHWAY PART -TOWN FUND Due from Other Governments (Sales Tax) 158,283 WATER FUND Due from Other Funds 500,000 WATER FUND Water Rents Receivable 240,377 SEWER FUND Sewer Rents Receivable 238,369 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) years of credited service will NOT be required to contribute to the Retirement Page 10 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 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 years 2010 through 2012 are as follows: Employee's Retirement System 2012 $ 545,008 2011 $ 385,707 2010 $ 328,806 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, 2012. 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 15th to February 15t for the New York State and Local Retirement System, the Town of Ithaca accounting records reflect prepaid retirement costs totaling $136,262 for the year 2012. 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 2013 budget. 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, 2012, the Town of Ithaca had no outstanding short-term debt. 3. Long -Term Debt a. At December 31, 2012, the total principal serial bond indebtedness outstanding of the Town of Ithaca aggregated $5,660,000. Of this amount, $941,000 was subject to the Town's constitutional debt limit and represented 1.10% 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 Page 11 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 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 liabilities: • Unfunded Retirement - Represents the non-current portion of the liability to the various state retirement systems. • Compensated Absences - represents the value of earned and unused portion of the liability for vacation and compensatory time balances. • Other Post -Employment Benefits (OPEB) - Represents the non-current liability to current employees and retirees. d. Summary of Lone -Term Liabilities: The following is a summary of liabilities outstanding at December 31, 2012: DESCRGPI IOO N ALANC AT 1101112 ADDITIONS G•E A DELETIONS BA 12/31/(2 Serial Bonds $ 6,153,000 $ - $ 493,000 $ 5,660,000 Unfunded Retirement - - - - Compensated Absences 14,302 348 - 14,650 Other Post -Employment 1,300,000 $ 626,000 Benefits (OPEB) 985,330 614,786 - 1,600,116 TOTAL $ 7,152,632 $ 615,134 $ 493,000 $ 7,274,766 2.955% 09/01/2021 315,000 SUB -TOTAL: HIGHWAY PART -TOWN FUND $ Additions and deletions due to compensated absences are shown at net since it is impracticable to determine these amounts separately. e. Long -Term Debt Maturity Schedule: The following is a statement of serial bonds and capital note(s) with corresponding maturity schedule. GENERAL TOWNWIDE FUND Public Improvement (Serial) Bond - 2003 12/29/2003 $ 1,000,000 3.950% 12/29/2017 $ 356,000 Public Improvement (Serial) Bond - 2011 09/01/2011 300,000 2.955% 09/01/2021 270,000 SUB -TOTAL: GENERAL TOWNWIDE FUND $ 1,300,000 $ 626,000 HIGHWAY PART -TOWN FUND Public Improvement (Serial) Bond - 2011 09/01/2011 350,000 2.955% 09/01/2021 315,000 SUB -TOTAL: HIGHWAY PART -TOWN FUND $ 350,000 $ 315,000 WATER FUND Public Improvement (Serial) Bond - 2004 02/12/2004 1,000,000 3.880% 02/12/2019 469,000 Public Improvement (Serial) Bond - 2004 05/15/2004 2,000,000 4.346% 05/15/2024 1,200,000 Public Improvement (Serial) Bond - 2005 09/28/2005 500,000 3.600% 09/28/2015 180,000 Public Improvement (Serial) Bond - 2009 10/01/2009 1,125,000 3.160% 10/01/2024 935,000 Public Improvement (Serial) Bond - 2011 09/01/2011 2,000,000 2.955% 09/01/2031 1,935,000 SUB -TOTAL: WATER FUND $ 6,625,000 $ 4,719,000 TOTAL $ 8,275,000 $ 5,660,000 For the year ended December 31, 2012, payments against outstanding principal totaled $493,000. Interest expense totaled $201,210. Page 12 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 f. Future Debt Service Requirements: The following table summarizes the Town of Ithaca's future debt service requirements as of December 31, 2012. g. Authorized but Unissued Debt: In addition to the debt shown above, the following long-term debt has PRIN@I�PAL��lNTER���T��ffl��`iCMENTSAYME IN 1 Northview Water Tank Replacement $ 650,000 Danby Road Water Tank Replacement 550,000 Harris B. Dates Drive Reconstruction 2013 $ 498,000 $ 185,008 $ 683,008 2014 503,000 168,619 671,619 2015 508,000 152,011 660,011 2016 448,000 135,122 583,122 2017 459,000 120,393 579,393 2018-2022 1,764,000 406,674 2,170,674 2023-2027 950,000 160,944 1,110,944 2028-2031 530,000 45,781 575,781 TOTAL $ 5,660,000 $ 1,374,553 $ 7,034,553 - Light District Funds - - g. 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, 2012. IN 1 Northview Water Tank Replacement $ 650,000 Danby Road Water Tank Replacement 550,000 Harris B. Dates Drive Reconstruction 250,000 Town Hall Parking Lot Rehabilitation 250,000 Total - Authorized but Unissued Debt $ 1,700,000 C. Reconciliation of Interfund Activities: Interfund Receivables (Due From Other Funds) and Payables (Due To Other Funds), and Interfund Revenue and Expense at December 31, 2012 were as follows: D. Fund Equity 1. Reserves a. Parks and 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 Page 13 IN DRFUNR IN 1 EAEJ Ri V M11E E•YPENSE General Townwide Fund $ 37,722 $ 124,176 $ 533,967 $ 183,834 General Part -Town Fund - 3,552 - 76,100 Highway Part -Town Fund 399,178 - - 153,740 Water Fund 500,000 35,298 30,167 717,248 Sewer Fund - 18,868 1 160,000 Capital Project Funds - 755,006 102,750 478,657 Fire Protection Fund - - - - Light District Funds - - - - Debt Service Fund - - 1,102,694 - TOTAL $ 936,900 $ 936,900 $ 1,769,579 $ 1,769,579 D. Fund Equity 1. Reserves a. Parks and 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 Page 13 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31. 2012 outlined in the Town's Park and Open Space Plan. The balance for the year ended December 31, 2012 was $652,149. 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. Highway Equipment Reserve: The General Part -Town Highway Fund equity includes reserve funds established for the purchasing/replacement of highway machinery and equipment. The balance for the year ended December 31, 2012 was $105,552. This Reserve Fund was established at the November 8, 1984 Town Board meeting under Board Resolution No. 193. This reserve is funded from the sale of surplus machinery and equipment and interest earned for the year. c. General Purpose 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 include funds established for the purpose of funding unanticipated and/or unbudgeted increases in the annual cost of employee benefits (e.g. NYS Retirement Costs, Health Insurance). The aggregate balance for the year ended December 31, 2012 was $215,860. This Reserve 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. This reserve is capped at $350,000, and once this cap has been reached no additional annual contributions will be made. Funds will be replenished only when funds are withdrawn to meet unanticipated and/or unbudgeted cost spikes in employee benefits. The balance by fund as of December 31, 2012 is as follows: General Townwide Fund $ 106,460 General Part -Town Fund 38,641 Highway Part -Town Fund 56,738 Water Fund 8,217 Sewer Fund 5,804 2. Allocation of Fund Balance: General Townwide Fund $ 76,740 $ 788,785 $ - $ 497,407 $ 1,239,253 $ 2,602,185 General Part -Town Fund 30,792 38,641 - 596,489 - 665,921 Highway Part -Town Fund 30,222 162,023 - 1,253,443 - 1,445,688 Water Fund 4,433 8,217 - 1,331,876 - 1,344,526 Sewer Fund 3,429 85,804 - 1,206,895 - 1,296,128 Capital Project Funds - - - - (397,526) (397,526) Fire Protection Fund - - - 502,768 - 502,768 Light District Funds - - - 9,807 - 9,807 Inlet Valley Cemetery - 9,061 - - - 9,061 Debt Service Fund - - - 460,684 - 460,684 TOTAL $ 145,615 $ 1,092,531 $ - $ 5,859,369 $ 841,727 $ 7,939,242 3. Sewer Fund Balance The Sewer Fund equity 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. Page 14 TOWN OF ITHACA NOTES TO FINANCIAL, STATEMENTS For the Year Ended December 31, 2012 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, 2012. 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 and 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. For the year ended December 31, 2011, the audited financial statements of the SCLIWC show: Total Assets $ 6,509,877 Total Liabilities $ 3,972,022 Net Assets $ 2,537,855 Total Revenues $ 2,891,385 Total Expenses $ 2,915,973 B. The Ithaca Area Wastewater Treatment Plant (IAWWTP) 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 IAWWTP 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% 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. Page 15 0 TOWN OF ITHACA NOTES TO FINANCIAL STATEMENTS For the Year Ended December 31, 2012 The following information is from the separately issued financial statements of the IAWWTP for the year ended December 31, 2010 (latest available): Total Assets $ 27,250,490 Total Liabilities $ 4,733,284 Net Assets $ 22,517,206 Total Revenues $ 3,456,470 Total Expenses $ 4,783,597 NOTE V - CONTINGENCIES Pollution Remediation Contingent Obligation: In 2009, a site commonly known as the Ithaca Area Wastewater Treatment Plant (IAWWTP), 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 $284,249, of which the Town of Ithaca is liable for $80,000, payable over a ten year period. Page 16 TOWN OF ITHACA BALANCE SHEET ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 1 of 5 GENERAL GENERAL HIGHWAY - CAPITAL DESCRIPTION TOWNWIDE PART -TOWN ' PART -TOWN . WATER SEWER PROJECTS FUND FUND FUND FUND FUND FUNDS ASSETS UNRESERVED CASH: CASH (CHECKING/SAVINGS) $ 2,012,650 1$ 570,813 $ 843,358 i $ 653,870 $ 1,402,742 ' $ 357,481 CERTIFICATES OF DEPOSIT PETTY CASH 7251 200 TOTAL UNRESERVED CASH $ 2,013,375 $ 570,813: $ 843,558 ` $ 653,870 $ 1,402,742 ' $ 357,481 RESERVED CASH.- ASH:PARKS PARKS& OPEN SPACE PLAN ; $ 682,326 GENERAL PURPOSE BENEFIT 106,460 ' 38,641 56,738 8,217 5,804 1 HIGHWAY EQUIPMENT 105,285 FIDUCIARY FUNDS TOTAL RESERVED CASH $ 788,785 ' $ 38,641 $ 162,023 ! $ 8,217 $ 5,804 $ OTHER ASSETS: ACCOUNTS RECEIVABLE $ 2,238 j $ 2,175 WATER & SEWER RECEIVABLE - - ! 240,377 238,369 DUE FROM OTHER FUNDS 37,722 ` - 399,178 500,000 STATE & FEDERAL AID RECEIVABLE " DUE FROM OTHER GOVTS 46,899: 105,522 i 158,283 PREPAID EXPENSES 76,740 30,792 30,222 ; 4,433 3,429 TOTAL OTHER ASSETS $ 163,599 $ 138,489:,$ 587,683 1 $ 744,810 $ 241,798 $ TOTAL ASSETS $ 2,965,760 ' $ 747,943 $ 1,593,264'. $ 1,406,897. $ 1,650,344 ' $ 357,481 LIABILITIES and FUND BALANCE I LIABILITIES: i ACCOUNTS PAYABLE ACCRUED LIABILITIES 239,399 78,470 ' 147,577 ' 27,073 ! 335,348 ; BAN PAYABLE -i - - DUE TO OTHER FUNDS 124,176 3,552 35,298 18,868 755,006 DEFERRED REVENUE TOTAL LIABILITIES ; $ 363,574 $ 82,022: $ 147,577. $ 62,371 $ 354,215 ` $ 755,006 FUND BALANCE. NONSPENDABLE FUND BALANCE $ 76,740 $ 30,792 $ 30,222 $ 4,433 $ 3,429 $ RESTRICTED FUND BALANCE 788,785 38,641 162,023. 8,217 85,804 COMMITTED FUND BALANCE - - - ASSIGNED FUND BALANCE 497,407 596,489 1,253,443 ' 1,331,876 1,206,896 UNASSIGNED FUND BALANCE 1,239,253 - (397,526) TOTAL FUND BALANCE $ 2,602,185: $ 665,921 $ 1,445,688 ! $ 1,344,526 $ 1,296,128 ' $ (397,526) TOTAL LIABILITIES & FUND BALANCE, $ 2,965,760 $ 747,943. $ 1,593,264 $ 1,406,897 $ 1,650,344 , $ 357,481 Page 1 of 5 TOWN OF ITHACA BALANCE SHEET ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 2 of 5 FIRE LIGHTING DEBT TRUST & INLET TOTAL DESCRIPTION PROTECTION DISTRICT SERVICE AGENCY VALLEY ALL FUND FUNDS FUND FUND CEMETERY FUNDS ASSETS UNRESERVED CASH: CASH (CHECKINGISAVINGS) $ 666,362 i $ 9,807 $ 460,684 { $ - ' $ - ' $ 6,977,767 CERTIFICATES OF DEPOSIT -i - - - - PETTY CASH -i -' 925 TOTAL UNRESERVED CASH $ 666,362 $ 9,807: $ 460,684 ' $ - ' $ - $ 6,978,692 RESERVED CASH: PARKS & OPEN SPACE PLAN $ - $ - $ - $ - . $ - i $ 682,326 GENERAL PURPOSE BENEFIT I - + 215,859 HIGHWAY EQUIPMENT I - ! - - 105,285 FIDUCIARY FUNDS j - 120,937 " 9,061 129,998 TOTAL RESERVED CASH $ - $ - ' $ - ; $ 120,937 ' $ 9,061 i $ 1,133,468 OTHER ASSETS: i ACCOUNTS RECEIVABLE$ 4,413 WATER & SEWER RECEIVABLE - - 478,746 DUE FROM OTHER FUNDS - 936,900 STATE & FEDERAL AID RECEIVABLE DUE FROM OTHER GOVTS - ! - - 310,704 PREPAID EXPENSES - 145,615 TOTAL OTHER ASSETS $ - , $ - $ - : $ - ; $ - $ 1,876,379 TOTAL ASSETS $ 666,362 ; $ 9,807 $ 460,684 ' $ 120,937 $ 9,061 ` $ 9,988,539 LIABILITIES and FUND BALANCE i i LIABILITIES: ACCOUNTS PAYABLE 1$ - is - ACCRUED LIABILITIES 163,594 - 120,937 1,112,397 BAN PAYABLE - - DUE TO OTHER FUNDS - - - - `. 936,899 DEFERRED REVENUE -1 - TOTAL LIABILITIES i $ 163,594 $ - $ - $ 120,937 $ - $ 2,049,296 FUND BALANCE: I , NONSPENDABLE FUND BALANCE I $ - ! $ - $ - $ - $ - $ 145,615 RESTRICTED FUND BALANCE - ' - - 9,061 1,092,531 COMMITTED FUND BALANCE - - - ASSIGNED FUND BALANCE 502,768 9,807. 460,684 - 5,859,369 UNASSIGNED FUND BALANCE - - 1 - - 841,727 TOTAL FUND BALANCE $ 502,768 $ 9,807 $ 460,684. $ - ' $ 9,061 $ 7,939,242 + TOTAL LIABILITIES & FUND BALANCE i $ 666,362. ,$ 9,807 $ 460,684 $ 120,937 $ 9,061 $ 9,988,539 Page 2 of 5 TOWN OF ITHACA BALANCE SHEET for CAPITAL PROJECT FUNDS ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 3 of 5 CLOSED CAPITAL PROJECTS I TOTAL DESCRIPTION FUND H1 First Street FUND H2 Forest Home FUND H3 Warren Road FUND H6 Town Hall Roof FUND H7 Snyder Hill FUND H11 East Shore Dr. FUND H12 Snyder Hill Rd. FUND H13 Hungerford Hill CLOSED CAPITAL Interceptor Traffic Calming Walkway Replacement Road Imp. Water Main Water Main Pump Station PROJECTS ASSETS UNRESERVED CASH: CASH (CHECKINGISAVINGS) $ - $ - $ - $ - $ _ $ $ _ $ _ $ CERTIFICATES OF DEPOSIT TOTAL UNRESERVED CASH $ $ $ RESERVED CASH: FIDUCIARY FUNDS $ $ $ $ $ $ $ $ $ TOTAL RESERVED CASH $ $ $ OTHER ASSETS: ACCOUNTS RECEIVABLE $ - $ $ - $ - $ - $ - $ - $ - $ - CUSTOMER RECEIVABLE - - - - - DUE FROM OTHER FUNDS - - • - - STATE & FEDERAL AID RECEIVABLE - - - - - - - - DUE FROM OTHER GOV'TS - - - - - PREPAID EXPENSES TOTAL OTHER ASSETS 5 $ $ 3 $ S TOTAL ASSETS $ $ LIABILITIES and FUND BALANCE LIABILITIES: ACCOUNTS PAYABLE $ - $ $ - $ - $ - $ - $ - $ - $ - ACCRUED LIABILITIES - - - - - DUE TO OTHER FUNDS - - - - - - - - RETAINAGE - - - - - - - - - BAN PAYABLE TOTAL LIABILITIES $ $ $ S $ FUND BALANCE: NONSPENDABLE FUND BALANCE $ $ - $ - $ $ $ $ - $ - $ - RESTRICTED FUND BALANCE - - - - - - COMMITTED FUND BALANCE - ASSIGNED FUND BALANCE - - - - - - - UNASSIGNED FUND BALANCE TOTAL FUND BALANCE TOTAL LIABILITIES & FUND BALANCE $ $ Page 3 of 5 TOWN OF ITHACA BALANCE SHEET for CAPITAL PROJECT FUNDS ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 4 of 5 ACTIVE CAPITAL PROJECTS I TOTAL DESCRIPTION FUND H Hanshaw Road FUND H5 Pine Tree Rd. FUND H8 Gateway Trail FUND H9 Northview FUND H10 Danby Road FUND H14 Forest Home FUND H15 H.B.Dates Drive FUND H16 Town Hall ACTIVE CAPITAL Walkway Walkway (Grant Funding) Water Tank , Water Tank Upstrm Bridge Improvements Parking Lot PROJECTS SA SETS UNRESERVED CASH: CASH (CHECKINGISAVINGS) $ 100,359 $ 35,038 $ 87,309 $ 9,290 $ 6,280 $ 102,589 $ 11,736 $ 4,880 $ 357,481 CERTIFICATES OF DEPOSIT TOTAL UNRESERVED CASH $ 100,359 35,038 $ 87,309 9,290 6,280 102,589 11,736 S 4,880 $ 357,481 RESERVED CASH: FIDUCIARY FUNDS $ $ $ $ S $ $ $ $ TOTAL RESERVED CASH $ $ S OTHER ASSETS: ACCOUNTS RECEIVABLE $ - $ - $ - $ - $ - $ - $ - $ - $ - CUSTOMER RECEIVABLE DUE FROM OTHER FUNDS STATE & FEDERAL AID RECEIVABLE DUE FROM OTHER GOVTS PREPAID EXPENSES TOTAL OTHER ASSETS $ TOTAL ASSETS $ 100,359 35,038 87,309 $ 9,290 $ 6,280 102,589 11,736 S 4,880 357,481 LIABILITIES and FUND BALANCE LIABILITIES: ACCOUNTS PAYABLE $ - $ - $ - $ - $ - $ - $ - $ - $ - ACCRUED LIABILITIES - - - - - DUE TO OTHER FUNDS - - - 490,000 10,000 - 250,006 5,000 755,006 RETAINAGE - - - - - " BAN PAYABLE TOTAL LIABILITIES 490,000 10,000 $ 250,006 $ 5,000 755,006 FUND BALANCE: NONSPENDABLE FUND BALANCE $ - $ - $ - $ - $ _ $ - $ " $ - $ - RESTRICTED FUND BALANCE - - - - COMMITTED FUND BALANCE - - - • - ASSIGNED FUND BALANCE 100,359 35,038 87,309 - - 102,589- 325,294 UNASSIGNED FUND BALANCE 480,710 3,720 238,270 120 722,820 TOTAL FUND BALANCE 100,359 35,038 87,309 $ (480,710) (3,720) 102,589 (238,270) 120 397 526 TOTAL LIABILITIES & FUND BALANCE 100,359 35,038 S 87,309 9,290 6,280 102,589 11,736 4,880 357,481 Page 4 of 5 TOWN OF ITHACA BALANCE SHEET for LIGHT DISTRICT FUNDS ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 5 of 5 FUND SL -1 FUND SI, -2 FUND SL -3 FUND SL -4 FUND SL -5 FUND SL -6 FUND SL -7 FUND SL -8 FUND SL -9 TOTA DESCRIPTION Forest Glenside Renwick Eastwood Clover Lane Winner's Burlelgh Westhaven Coddington LIGHT Home Heights Commons Circle Drive Road Road DISTRICTS 5A SETS UNRESERVED CASH: CASH (CHECKING/SAVINGS) $ 1,382 $ 734 $ 1,335 $ 1,784 $ 319 $ 623 $ 609 $ 1,945 $ 1,074 $ 9,807 CERTIFICATES OF DEPOSIT TOTAL UNRESERVED CASH $ 1,382 734 1,335 1,784 $ 319 623 609 1,945 1,074 9 807 RESERVED CASH: FIDUCIARY FUNDS $ $ $ $ $ $ $ $ $ $ TOTAL RESERVED CASH $ $ OTHER ASSETS: ACCOUNTS RECEIVABLE $ - $ $ $ - $ $ - $ $ - $ - $ ' CUSTOMER RECEIVABLE - - - _ • - ' DUE FROM OTHER FUNDS - - - - - • - STATE & FEDERAL AID RECEIVABLE - - - - - - - DUE FROM OTHER GOV'TS PREPAID EXPENSES - TOTAL OTHER ASSETS S $ S $ S TOTAL ASSETS 1 382 734 1,335 1,784 319 $ 623 609 1,945 1,074 9,807 LIABILITIES and FUND BALANCE LIABILITIES: ACCOUNTS PAYABLE $ - $ - $ - $ - $ - $ - $ $ - $ - $ - ACCRUED LIABILITIES - - - - - DUE TO OTHER FUNDS - - - - - - - - DEFERRED REVENUE - - - - BAN PAYABLE TOTAL LIABILITIES $ $ FUND BALANCE: NONSPENDABLE FUND BALANCE $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - RESTRICTED FUND BALANCE - - - - - - - - - - COMMITTED FUND BALANCE - - - - - - - - - ASSIGNED FUND BALANCE 1,382 734 1,335 1,784 319 623 609 1,945 1,074 9,807 UNASSIGNED FUND BALANCE TOTAL FUND BALANCE S 1 382 734 1,335 5 1,784 $ 319 S 623 609 $ 1,945 1,074 S 9 807 TOTAL LIABILITIES & FUND BALANCE 1,382 734 1,335 1,784 319 623 609 t945 1074 9,807 Page 5 of 5 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 1 of 5 GENERAL GENERAL HIGHWAY CAPITAL DESCRIPTION TOWNWIDE PART -TOWN ; PART -TOWN ; WATER SEWER PROJECTS FUND FUND FUND I FUND FUND FUNDS REVENUE f j BUDGETED REVENUE :$ 3,818,247 $ 1,223,600 $ 2,210,500 `. $ 3,454,050 $ 2,322,344 $ 1,524,250 ACTUAL & ACCRUED 3,991,899 ! 1,353,861 2 377 555. 3,420,692 2 737 945 104.851 REVENUE OVER (UNDER) $ 173,652 $ 130,261 $ 167,055 $ (33,359) $ 415,601 $ (1,419,399) % EARNED 104.5% 110.6% ; 107.6% 99.0% 1 117.9% 6.9% EXPENSE BUDGETED EXPENSE $ 4,344,716 $ 1,308,950 $ 2,350,500 ` $ 3,269,453 I $ 2,410,525 ' $ 3,145,739 ACTUAL & ACCRUED 4,225,100 I 1,135,863 ; 2,060,103 ! 3,2 8,181 1 2,320,671 1 942 844 EXPENSE OVER (UNDER) $ (119,616) $ (173,087) $ (290,397) $ (51,272)' $ (89,854) $ (1,202,895) % EXPENDED 97.2% 86.8% 87.60/6 98.4% 96.3% 61.8% FUND BALANCE i FUND BALANCE - 01/01/2012 $ 2,835,386 ; $ 447,923 ' $ 1,128,236 $ 1,142,015 ! $ 878,854 $ 1,440,467 ADD: REVENUE 3,991,899 1,353,861 2,377,555. 3,420,692 2,737,945 104,851 Less: EXPENSE 4,225,100 1,135,863 ; 2,060,103 ; 3,218,181 2,320,671: 1,942,844 FUND BALANCE -1213112012 : $ 2,602,185 , $ 665,921 ; $ 1,445,688 ! $ 1,344,526 j $ 1,296,128 ! $ 397,526) NONSPENDABLE FUND BALANCE $ 76,740: $ 30,792 $ 30,222 ; $ 4,433 $ s 3,429 ! $ RESTRICTED FUND BALANCE 788,785 38,641 162,023 8,2171 85,804 COMMITTED FUND BALANCE - - ASSIGNED FUND BALANCE f 497,407 596,489: 1,253,443 - 1,331,876 1,206,896 - UNASSIGNED FUND BALANCE 1,239,253 i - (397,526) TOTAL FUND BALANCE $ 2,602,185 $ 665,921 $ 1,445,688: $ 1,344,526 $ 1,296,128: $ 397,526) CASH and CASH EQUIVALENTS UNRESERVED CASH CASH (CHECKINGISAVINGS) $ 2,012,650 $ 570,813 $ 843,358 $ 653,870: $ 1,097,943 :$ 357,481 CASH - SJC OPERATING - - 304,799 PETTY CASH 725. 200 TOTAL UNRESERVED CASH i $ 2,013,375 ' $ 570,813 $ 843,558 $ 653,870 ; $ 1,402,742 $ 357,481 RESERVED CASH PARKS & OPEN SPACE PLAN $ 682,326 $ - $ GENERAL PURPOSE BENEFIT 106,460 38,641 ' 56,738 8,217 5,804 ' HIGHWAY EQUIPMENT 105,285 - FIDUCIARY FUNDS - - ` TOTAL RESERVED CASH $ 788,785 $ 38,641 $ 162,023 $ 8,217 ; $ 5,804; $ TOTAL CASH -1213112012 $ 2,802,161 $ 609,454 $ 1,005,581 $ 662,088 = $ 1,408,546 ` $ 357,481 Page 1 of 5 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 2 of 5 FIRE LIGHTING DEBT TRUST & INLET TOTAL DESCRIPTION PROTECTION ` DISTRICT SERVICE AGENCY VALLEY ALL FUND FUNDS FUND f FUND CEMETERY ± FUNDS REVENUE BUDGETED REVENUE $ 3,673,000 $ 11,945 i $ 1,103,694 $ - $ - $ 19,341,630 ACTUAL & ACCRUED 3,680,180 $ 11,964 i 1,103,23-7 i 11 18,782,195 REVENUE OVER (UNDER) $ 7,180 ' $ 19 ; $ (457)' $ - $ 11 $ (559,435) % EARNED 100.2% ' 100.2% I 100.0% 0.0% 97.1% EXPENSE f I , BUDGETED EXPENSE $ 3,473,000: $ 12,970 $ 695,207 1$ - : $ 1,500 1$ 21,012,560 ACTUAL & ACCRUED 3,252,220 $ 12,568 697.010 s - ; 18,864,560 EXPENSE OVER (UNDER) $ (220,780) $ (402) $ 1,803 $ - is (1,500). $ (2,148,000) % EXPENDED 93.6% 96.9% 100.3% 0.0% 89.8% FUND BALANCE FUND BALANCE - 01/01/2012 $ 74,808 i $ 10,411 $ 54,457 $ - 1 $ 9,050 $ 8,021,607 ADD: REVENUE 3,680,180 11,964 1,103,237 11 ' 18,782,195 LESS: EXPENSE 3,252,220 12,568 697,0101 18,864,560 FUND BALANCE -1213112012 $ 502,768 C $ 9,807 $ 460,6841 $ - { $ 9,061 " $ 7,939,242 NONSPENDABLE FUND BALANCE $ - `, $ - ($ - j $ j - $ - ` $ 145,615 RESTRICTED FUND BALANCE 9,061 1,092,530 COMMITTED FUND BALANCE - ASSIGNED FUND BALANCE 502,768 9,8071 460,684 i - 5,859,369 UNASSIGNED FUND BALANCE - i - 841,727 TOTAL FUND BALANCE $ 502,768 $ 9,807 ; $ 460,684 ` $ - $ 9,061 $ 7,939,242 CASH and i CASH EQUIVALENTS ; UNRESERVED CASH CASH (CHECKINGISAVINGS) $ 666,362 $ 9,807 1$ 460,684 ' $ - $ - $ 6,672,969 CASH - SJC OPERATING - - - 304,799 PETTY CASH925 i TOTAL UNRESERVED CASH $ 666,362 $ 9,807 $ 460,684 $ - ; $ - $ 6,978,692 RESERVED CASH PARKS & OPEN SPACE PLAN ;$ $ $ - $ 682,326 GENERAL PURPOSE BENEFIT - - - - 215,859 HIGHWAY EQUIPMENT - - - - 105,285 FIDUCIARY FUNDS - 120,937 9,061 129,998 TOTAL RESERVED CASH $ - $ - $ - $ 120,937 $ 9,061 $ 1,133,468 TOTAL CASH -12/3112012 $ 666,362 $ 9,807 $ 460,684- $ 120,937 $ 9,061 $ 8,112,160 Page 2 of 5 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY for CAPITAL PROJECT FUNDS ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 3 of 5 CLOSED CAPITAL PROJECTS I TOTAL DESCRIPTION FUND H1 First Street FUND H2 Forest Home FUND H3 Warren Road FUND H6 Town Hall Roof FUND H7 Snyder Hill FUND H11 East Shore Dr. FUND H12 Snyder Hill Rd. FUND H13 Hungerford Hill CLOSED CAPITAL Interceptor Traffic Calming Walkway Replacement Road Imp. Water Main Water Main Pump Station PROJECTS REVENUE BUDGETED REVENUE ACTUAL & ACCRUED $ - 0 $ - 1 $ 20,527 99,122 $ - 107 $ - 63 $ - 1,445 $ 3,723 3,734 $ - 43 $ 24,250 104,515 REVENUE OVER UNDER 0 1 78,595 107 63 1,445 11 43 80,265 % EARNED 0.0% 0.0% 482.9% 0.0% 0.0% 0.0% 100.3% 0.0% 431.0% EXPENSE BUDGETED EXPENSE $ - $ - $ - $ 187,285 $ 20,454 $ 1,407,832 $ - $ 30,167 $ 1,645,739 ACTUAL & ACCRUED 1 2 125,595 20,464 1,043,804 30,167 1,220,024 EXPENSE OVER UNDER 1 2 (61,690) $ (364,028) S $ (425,715) % EXPENDED 0.0% 0.0% 0.0% 67.1% 100.0% 74.1% 0.0% 100.0% 74.1% FUND BALANCE FUND BALANCE - 01/01/2012 $ 1 $ 1 $ (99,122) $ 125,488 $ 20,391 $ 1,042,359 $ (3,734) $ 30,125 $ 1,115,509 ADD: REVENUE 0 1 99,122 107 63 1,445 3,734 43 104,515 LESS: RETAINANGE LESS: EXPENSE 1 2 - 125,595 20,454 1,043,804 - 30,167 1,220,024 FUND BALANCE -12131/2012 NONSPENDABLE FUND BALANCE $ - $ - $ - $ $ - $ - $ - $ - $ - RESTRICTED FUND BALANCE COMMITTED FUND BALANCE ASSIGNED FUND BALANCE UNASSIGNED FUND BALANCE - - - - - - - - TOTAL FUND BALANCE CASH and CASH EQUIVALENTS CASH (CHECKING/SAVINGS) $ - $ - $ - $ - $ - $ $ - $ - $ - INVESTMENTS TOTAL CASH -1213112012 $ $ Page 3 of 5 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY for CAPITAL PROJECT FUNDS ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 4 of 5 ACTIVE CAPITAL PROJECTS I TOTAL DESCRIPTION FUND H4 Hanshaw Road FUND H5 Pine Tree Rd. FUND H8 Gateway Trail FUND H9 Northview FUND H10 Danby Road FUND H14 Forest Home FUND H15 H.B.Dates Drive FUND H16 Town Hall ACTIVE CAPITAL Walkway Walkway (Grant Funding) Water Tank Water Tank Upstrm Bride Improvements Parkin Lot PROJECTS REVENUE BUDGETED REVENUE ACTUAL & ACCRUED $ - 109 $ - 38 $ - 101 $ 500,000 $ 500,000 $ - 89 $ 250,000 $ 250,000 $ 1,500,000 336 REVENUE OVER UNDER 109 38 101 (505,000) $ (500,000) 89 (250,000) (250,000) 1 499 664 % EARNED 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% EXPENSE BUDGETED EXPENSE $ - $ - $ - $ 500,000 $ 500,000 $ - $ 250,000 $ 250,000 $ 1,500,000 ACTUAL & ACCRUED 480,710 3,720 -238,270 120 722,820 EXPENSE OVER UNDER (19,290) (496,280) (11,730) (249,880) 777180 % EXPENDED 0.0% 0.0% 0.0% 96.1% 0.7% 0.0% 95.3% 0.0% 48.2% FUND BALANCE FUND BALANCE - 01/01/2012 $ 100,250 $ 35,000 $ 87,208 $ - $ - $ 102,500 $ - $ - $ 324,958 ADD: REVENUE 109 38 101 - - 89 - - 336 LESS: RETAINANGE - - - - LESS: EXPENSE - - - 480,710 3,720 - 238,270 120 722,820 FUND BALANCE -12/31/2012 100,359 35,038 $ 87,309 (480,710) (3,720) 102,589 (238,270) 120 (397,526) NONSPENDABLE FUND BALANCE $ - $ - $ $ - $ $ $ $ $ - RESTRICTED FUND BALANCE COMMITTED FUND BALANCE ASSIGNED FUND BALANCE 100,359 35,038 87,309 102,589 325,294 UNASSIGNED FUND BALANCE - - (480,710) (3,720) - (238,270) (120) (722,820) TOTAL FUND BALANCE 100,359 35,038 87,309 480710 (3,720) 102,589 $ (238,270) 120 (397,526L CASH and CASH EQUIVALENTS CASH (CHECKING/SAVINGS) $ 100,359 $ 35,038 $ 87,309 $ 9,290 $ 6,280 $ 102,589 $ 11,736 $ 4,880 $ 357,481 INVESTMENTS - - - - - - TOTAL CASH - 12/31/2012 100,359 35,038 $ 87,309 9,290 6,280 $ 102,589 $ 11,736 4,880 $ 357,481 Page 4 of 5 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY for LIGHT DISTRICT FUNDS ANNUAL FINANCIAL REPORT UPDATE DOCUMENT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 Page 6 of 5 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 I Westhaven Coddington LIGHT Home Heights Commons Circle Drive Road Road DISTRICTS REVENUE BUDGETED REVENUE $ 2,000 $ 700 $ 1,000 $ 2,000 $ 245 $ 750 $ 850 $ 2,750 $ 1,650 $ 11,945 ACTUAL & ACCRUED 2,003 701 1,002 2,003 246 751 851 2,754 1,653 11,964 REVENUE OVER UNDER 3 1 $ 2 3 1 S 1 $ 1 $ 4! 3 19 %EARNED 100.1% 100.2% 100.2% 100.2% 100.2% 100.2% 100.1% 100.1% 100.2% 100.2% EXPENSE BUDGETED EXPENSE $ 2,200 $ 750 $ 1,100 $ 2,200 $ 270 $ 800 $ 900 $ 3,000 $ 1,750 $ 12,970 ACTUAL &ACCRUED 2,400 724 1,014 2,121 253 752 865 2,787 1,652 12,568 EXPENSE OVER UNDER 200 26 86 $ 79 17 48 35 213 98 $ 402 %EXPENDED 109.1% 96.6% 92.1% 96.4% 93.9% 94.0% 96.1% 92.9% 94.4% 96.9% FUND BALANCE FUND BALANCE - 01/01/2012 $ 1,779 $ 758 $ 1,347 $ 1,902 $ 327 $ 624 $ 623 $ 1,979 $ 1,073 $ 10,411 ADD: REVENUE 2,003 701 1,002 2,003 246 751 851 2,754 1,653 11,964 LESS: EXPENSE 2,400 724 1,014 2,121 253 752 865 2,787 1,652 12,568 FUND BALANCE -12/31/2012 1,382 734 1,335 1,784 $ 319 623 S 609 1,945 $ 1,074 9,807 NONSPENDABLE FUND BALANCE $ - $ - $ - $ - $ - $ - $ - $ - f $ - $ - RESTRICTED FUND BALANCE - - - - - - COMMITTED FUND BALANCE - - - - - - ASSIGNED FUND BALANCE 1,382 734 1,335 ` 1,784 319 623 609 1,945 1,074 9,807 UNASSIGNED FUND BALANCE - - - - - - - - TOTAL FUND BALANCE 1,382 734 1,335 1,784 319 623 $ 609 1,945 1,074 9,807 CASH and CASH EQUIVALENTS CASH (CHECKING/SAVINGS) $ 1,382 $ 734 $ 1,335 $ 1,784 $ 319 $ 623 $ 609 $ 1,945 $ 1,074 $ 9,807 INVESTMENTS - - - - - - - - - TOTAL CASH -12/31/2012 1,382 S 734 1,335 ' 1,784 . 319 623 609 S 1,945 1,074 9,807 Page 6 of 5