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Home My WebLink AboutAnnual Update Document with Footnotes for FYE 2011.pdfAll Numbers in This Report Have Been Rounded To The Nearest Dollar ************************************************************************************************************************************* 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 *** AUTHORIZATION ANNUAL FINANCIAL REPORT For The VILLAGE of Cayuga Heights County of Tompkins UPDATE DOCUMENT For the Fiscal Year Ended 05/31/2011 State of NEW YORK Office of The State Comptroller Division of Local Government and School Accountability Albany, New York 12236 Page 1 VILLAGE OF Cayuga Heights 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 2010 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2011: *** FINANCIAL SECTION *** (A) GENERAL (FX) WATER (G) SEWER (H) CAPITAL PROJECTS (K) GENERAL FIXED ASSETS (TA) AGENCY (W) GENERAL LONG-TERM DEBT All amounts included in this update document for 2010 represent data filed by your government with OSC as reviewed and adjusted where necessary. 1) Statement of Indebtedness 2) Schedule of Time Deposits and Investments 3) Bank Reconciliation 4) Local Government Questionnaire 5) Schedule of Employee and Retiree Benefits 6) Schedule of Energy Costs and Consumption All numbers in this report will be rounded to the nearest dollar. *** SUPPLEMENTAL SECTION *** The Supplemental Section includes the following sections: *** 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. 7) Schedule of Other Post Employment Benefits (OPEB) Page 2 Balance Sheet (A) GENERAL Code Description 2010 EdpCode 2011 Assets Cash 132,581 A200 247,734 Cash In Time Deposits 1,827,873 A201 1,274,398 Petty Cash 355 A210 355 TOTAL Cash 1,960,808 1,522,487 Taxes Receivable, Current 0 A250 TOTAL Taxes Receivable (net)00 Accounts Receivable 0 A380 25,061 TOTAL Other Receivables (net)0 25,061 State & Federal, Other 0 A410 TOTAL State And Federal Aid Receivables 0 0 Due From Other Funds 980 A391 48,988 TOTAL Due From Other Funds 980 48,988 Due From Other Governments 990 A440 63,404 TOTAL Due From Other Governments 990 63,404 Prepaid Expenses 29,699 A480 43,034 TOTAL Prepaid Expenses 29,699 43,034 Cash, Special Reserves 0 A230 TOTAL Restricted Assets 00 TOTAL Assets 1,992,477 1,702,974 OSC Municipality Code 500442300850Page 3 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (A) GENERAL Code Description 2010 EdpCode 2011 Liabilities Accounts Payable 276,813 A600 81,272 TOTAL Accounts Payable 276,813 81,272 Accrued Liabilities 0 A601 108,444 TOTAL Accrued Liabilities 0 108,444 Overpayments & Clearing Account -1,752 A690 -58 TOTAL Other Liabilities -1,752 -58 Due To Other Funds 0 A630 5,043 TOTAL Due To Other Funds 0 5,043 Deferred Revenues 0 A691 TOTAL Deferred Revenues 00 TOTAL Liabilities 275,061 194,701 Reserve For Encumbrances 0 A821 TOTAL Reserve For Encumbrances 00 Reserve For Repairs 0 A882 TOTAL Special Reserves 00 Unreserved Fund Balance Appropriated 240,000 A910 360,000 TOTAL Unreserved Fund Balance - Appropriated 240,000 360,000 Unreserved Fund Balance Unappropriated 1,477,416 A911 1,148,273 TOTAL Unreserved Fund Balance - Unappropriated 1,477,416 1,148,273 TOTAL Fund Equity 1,717,416 1,508,273 TOTAL Liabilities And Fund Equity 1,992,477 1,702,974 OSC Municipality Code 500442300850Page 4 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (A) GENERAL Code Description 2010 EdpCode 2011 Revenues A1001 2,125,2922,050,249Real Property Taxes TOTAL Real Property Taxes 2,050,249 2,125,292 A1090 5,1584,894Interest & Penalties On Real Prop Taxes TOTAL Real Property Tax Items 4,894 5,158 A1120 704,541618,710Non Prop Tax Dist By County A1130 65,50559,011Utilities Gross Receipts Tax TOTAL Non Property Tax Items 677,720 770,046 A1255 961828Clerk Fees A1520 1190Police Fees A15700Charges For Demolition of Unsafe Buildings A17100Public Works Charges A2110100Zoning Fees A21150Planning Board Fees A2130 37,65732,990Refuse & Garbage Charges TOTAL Departmental Income 33,918 38,737 A2260 7,6649,139Public Safety Services For Other Govts A2262 169,778164,819Fire Protection Services Other Govts TOTAL Intergovernmental Charges 173,958 177,442 A2401 8,02312,196Interest And Earnings A2410 6,7507,200Rental of Real Property TOTAL Use of Money And Property 19,396 14,773 A2590 10,7658,050Permits, Other TOTAL Licenses And Permits 8,050 10,765 A2610 17,88012,971Fines And Forfeited Bail TOTAL Fines And Forfeitures 12,971 17,880 A2650 1,6250Sales of Scrap & Excess Materials A2665 7,7299,926Sales of Equipment A2680 13,2432,320Insurance Recoveries TOTAL Sale of Property And Compensation For Loss 12,246 22,597 A2705 20,60518,111Gifts And Donations A2770 4,035223Unclassified (specify) TOTAL Miscellaneous Local Sources 18,334 24,640 A3001 17,70518,844St Aid, Revenue Sharing A3005 42,96950,540St Aid, Mortgage Tax A30400St Aid, Real Property Tax Administration A30600ST. Aid, Records MgmT. A3089 30,0002,285St Aid - Other (specify) A3501 173,4170St Aid, Consolidated Highway Aid TOTAL State Aid 71,669 264,091 A43890Fed Aid Other Public Safety A49600Fed Aid, Emergency Disaster Assistance TOTAL Federal Aid 00 TOTAL Revenues 3,083,406 3,471,421 Page 5 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (A) GENERAL Code Description 2010 EdpCode 2011 Other Sources A5031 94,90092,000Interfund Transfers TOTAL Interfund Transfers 92,000 94,900 TOTAL Other Sources 92,000 94,900 TOTAL Detail Revenues And Other Sources 3,175,406 3,566,321 Page 6 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (A) GENERAL Code Description 2010 EdpCode 2011 Expenditures A11101 40,41638,284Municipal Court, Pers Serv A111020Municipal Court, Equip & Cap Outlay A11104 3,9221,868Municipal Court, Contr Expend TOTAL Municipal Court 40,152 44,338 A12101 13,20013,200Mayor, Pers Serv A12104 2,2602,429Mayor, Contr Expend TOTAL Mayor 15,629 15,460 A13204 9,1008,959Auditor, Contr Expend TOTAL Auditor 8,959 9,100 A13251 16,24815,816Treasurer, Pers Serv A132520Treasurer, Equip & Cap Outlay A13254 10,1366,689Treasurer, Contr Expend TOTAL Treasurer 22,505 26,384 A14101 101,52092,301Clerk,pers Serv A141020Clerk,equip & Cap Outlay A14104 12,1525,182Clerk,contr Expend TOTAL Clerk 97,483 113,672 A142010Law, Pers Serv A14204 105,657105,905Law, Contr Expend TOTAL Law 105,905 105,657 A14401 35,19034,956Engineer, Pers Serv A14404 9201,116Engineer, Contr Expend TOTAL Engineer 36,072 36,110 A14504 1,1381,359Elections, Contr Expend TOTAL Elections 1,359 1,138 A146010Records Mgmt, PerS. SerV. A146020Records Mgmt, Equip & Cap Outlay A14604 6,5474,458Records Mgmt, Contr Expend TOTAL Records Mgmt 4,458 6,547 A14804 8,9416,779Public Inform & Services, Contr Expend TOTAL Public Inform & Services 6,779 8,941 A16201 7,6373,699Buildings, Pers Serv A162024,340Buildings, Equip & Cap Outlay A16204 50,77246,919Buildings, Contr Expend TOTAL Buildings 54,958 58,409 A16401 72,02159,858Central Garage, Pers Serv A16402 12,1290Central Garage, Equip & Cap Outlay A16404 65,40061,494Central Garage, Contr Expend TOTAL Central Garage 121,352 149,550 A165020Central Comm System, Equip & Cap Outlay A16504 11,7999,662Central Comm System, Contr Expend TOTAL Central Comm System 9,662 11,799 A16802 3,8420Central Data Process & Cap Outlay A16804 8,64510,548Central Data Process, Contr Expend TOTAL Central Data Process 10,548 12,487 Page 7 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (A) GENERAL Code Description 2010 EdpCode 2011 Expenditures A19104 75,18048,515Unallocated Insurance, Contr Expend TOTAL Unallocated Insurance 48,515 75,180 A19204 1,8831,883Municipal Assn Dues, Contr Expend TOTAL Municipal Assn Dues 1,883 1,883 A195040Taxes & Assess On Munic Prop, Contr Expend TOTAL Taxes & Assess On Munic Prop 0 0 TOTAL General Government Support 586,218 676,655 A31201 670,093637,943Police, Pers Serv A31202 27,92723,692Police, Equip & Cap Outlay A31204 40,03634,498Police, Contr Expend TOTAL Police 696,133 738,056 A34101 13,42415,514Fire, Pers Serv A34102 26,77131,234Fire, Equip & Cap Outlay A34104 178,579169,938Fire, Contr Expend TOTAL Fire 216,686 218,774 A36201 31,59032,841Safety Inspection, Pers Serv A36204 6711,800Safety Inspection, Contr Expend TOTAL Safety Inspection 34,641 32,261 TOTAL Public Safety 947,460 989,091 A50101 61,06758,782Street Admin, Pers Serv TOTAL Street Admin 58,782 61,067 A51101 168,647147,319Maint of Streets, Pers Serv A51102 24,36524,433Maint of Streets, Equip & Cap Outlay A51104 137,97778,707Maint of Streets, Contr Expend TOTAL Maint of Streets 250,459 330,989 A51122 231,879202,629Perm Improve Highway, Equip & Cap Outlay TOTAL Perm Improve Highway 202,629 231,879 A51421 48,13232,612Snow Removal, Pers Serv A51422 20,78025,900Snow Removal, Equip & Cap Outlay A51424 62,13663,579Snow Removal, Contr Expend TOTAL Snow Removal 122,091 131,048 A51824 36,50738,814Street Lighting, Contr Expend TOTAL Street Lighting 38,814 36,507 TOTAL Transportation 672,774 791,490 A714040Playgr & Rec Centers, Contr Expend TOTAL Playgr & Rec Centers 00 TOTAL Culture And Recreation 00 A801040Zoning, Contr Expend TOTAL Zoning 00 A80204 36,55813,456Planning, Contr Expend TOTAL Planning 13,456 36,558 A81404 1,5001,515Storm Sewers, Contr Expend TOTAL Storm Sewers 1,515 1,500 A81601 74,32379,491Refuse & Garbage, Pers Serv A81602 18,7980Refuse & Garbage, Equip & Cap Outlay Page 8 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (A) GENERAL Code Description 2010 EdpCode 2011 Expenditures A81604 67,58859,613Refuse & Garbage, Contr Expend TOTAL Refuse & Garbage 139,103 160,709 A85101 2,1222,711Comm Beautification, Pers Serv A85104235Comm Beautification, Contr Expend TOTAL Comm Beautification 2,946 2,122 A85604 8,28513,375Shade Tree, Contr Expend TOTAL Shade Tree 13,375 8,285 TOTAL Home And Community Services 170,395 209,174 A90108 92,25250,419State Retirement System A90158 122,15397,354Police & Firemen Retirement, Empl Bnfts A90308 107,30094,756Social Security, Employer Cont A90408 42,89537,750Worker's Compensation, Empl Bnfts A90508 12,77010,514Unemployment Insurance, Empl Bnfts A90558 642443Disability Insurance, Empl Bnfts A90608 400,441404,228Hospital & Medical (dental) Ins, Empl Bnft TOTAL Employee Benefits 695,464 778,453 A97106 100,000157,000Debt Principal, Serial Bonds A973060Debt Principal, Bond Anticipation Notes TOTAL Debt Principal 157,000 100,000 A97107 77,10091,080Debt Interest, Serial Bonds A973070Debt Interest, Bond Anticipation Notes TOTAL Debt Interest 91,080 77,100 TOTAL Expenditures 3,320,391 3,621,963 A99509 153,50090,023Transfers, Capital Projects Fund TOTAL Operating Transfers 90,023 153,500 TOTAL Other Uses 90,023 153,500 TOTAL Detail Expenditures And Other Uses 3,410,413 3,775,463 Page 9 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Changes in Fund Equity Code Description 2010 EdpCode 2011 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity-Beginning of Year 1,952,424 A8021 1,717,416 Restated Fund Equity - Beg of Year 1,952,424 A8022 1,717,416 ADD - REVENUES AND OTHER SOURCES 3,175,406 3,566,321 DEDUCT - EXPENDITURES AND OTHER USES 3,410,413 3,775,463 Fund Equity-End of Year 1,717,416 A8029 1,508,274 Page 10 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Code Description (A) GENERAL Budget Summary EdpCode 20122011 Estimated Revenues Est Rev - Real Property Taxes 2,125,300 A1049N 2,240,083 Est Rev - Real Property Tax Items 6,000 A1099N 6,000 Est Rev - Non Property Tax Items 660,000 A1199N 690,000 Est Rev - Departmental Income 36,250 A1299N 39,500 Est Rev - Intergovernmental Charges 189,000 A2399N 324,430 Est Rev - Use of Money And Property 27,800 A2499N 19,000 Est Rev - Licenses And Permits 12,500 A2599N 9,000 Est Rev - Fines And Forfeitures 25,000 A2649N 13,000 Est Rev - Sale of Prop And Comp For Loss 32,000 A2699N 7,500 Est Rev - Miscellaneous Local Sources 640 A2799N 1,997 Est Rev - Interfund Revenues 94,900 A2801N 99,640 Est Rev - State Aid 241,610 A3099N 17,350 3,451,000 3,467,500TOTAL Estimated Revenues Appropriated Fund Balance 240,000 A599N 360,000 240,000 360,000TOTAL Estimated Other Sources 3,691,000 3,827,500TOTAL Estimated Revenues And Other Sources OSC Municipality Code 500442300850Page 11 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Code Description (A) GENERAL Budget Summary EdpCode 20122011 Appropriations App - General Government Support 737,800 A1999N 713,564 App - Public Safety 1,036,450 A3999N 1,036,650 App - Transportation 670,620 A5999N 657,400 App - Home And Community Services 228,740 A8999N 281,700 App - Employee Benefits 762,690 A9199N 818,736 App - Debt Service 177,200 A9899N 244,450 3,613,500 3,752,500TOTAL Appropriations App - Interfund Transfer 77,500 A9999N 75,000 77,500 75,000TOTAL Other Uses 3,691,000 3,827,500TOTAL Appropriations And Other Uses OSC Municipality Code 500442300850Page 12 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (FX) WATER Code Description 2010 EdpCode 2011 Assets Cash 4,040 FX200 21,423 Cash In Time Deposits 55,705 FX201 110,173 TOTAL Cash 59,745 131,596 Water Rents Receivable FX350 24,327 TOTAL Other Receivables (net)0 24,327 Prepaid Expenses FX480 445 TOTAL Prepaid Expenses 0 445 TOTAL Assets 59,745 156,368 OSC Municipality Code 500442300850Page 13 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (FX) WATER Code Description 2010 EdpCode 2011 Liabilities Accounts Payable 58,307 FX600 69,506 TOTAL Accounts Payable 58,307 69,506 Accrued Liabilities FX601 4,847 TOTAL Accrued Liabilities 0 4,847 Due To Other Funds FX630 14,123 TOTAL Due To Other Funds 0 14,123 TOTAL Liabilities 58,307 88,476 Unreserved Fund Balance Unappropriated 1,438 FX911 67,892 TOTAL Unreserved Fund Balance - Unappropriated 1,438 67,892 TOTAL Fund Equity 1,438 67,892 TOTAL Liabilities And Fund Equity 59,745 156,368 OSC Municipality Code 500442300850Page 14 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (FX) WATER Code Description 2010 EdpCode 2011 Revenues FX2140 505,682412,466Metered Water Sales FX2144 925780Water Service Charges FX2148 7,6025,292Interest & Penalties On Water Rents TOTAL Departmental Income 418,539 514,209 FX2401 239433Interest And Earnings TOTAL Use of Money And Property 433 239 FX2770 16316,726Unclassified (specify) TOTAL Miscellaneous Local Sources 16,726 163 TOTAL Revenues 435,697 514,611 FX5031Interfund Transfers TOTAL Interfund Transfers 00 TOTAL Other Sources 00 TOTAL Detail Revenues And Other Sources 435,697 514,611 Page 15 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (FX) WATER Code Description 2010 EdpCode 2011 Expenditures FX19104 1,330890Unallocated Insurance, Contr Expend TOTAL Unallocated Insurance 890 1,330 TOTAL General Government Support 890 1,330 FX83204 247,940232,844Source Supply Pwr & Pump, Contr Expend TOTAL Source Supply Pwr & Pump 232,844 247,940 FX83401 24,50523,640Water Trans & Distrib, Pers Serv FX83402 22,58923,485Water Trans & Distrib, Equip & Cap Outlay FX83404 16,47222,759Water Trans & Distrib, Contr Expend TOTAL Water Trans & Distrib 69,884 63,566 TOTAL Home And Community Services 302,728 311,506 FX90108 2,9791,599State Retirement, Empl Bnfts FX90308 1,9031,738Social Security, Empl Bnfts FX90408 761692Workers Compensation, Empl Bnfts FX90508 226193Unemployment Insurance, Empl Bnfts FX90558 118Disability Insurance, Empl Bnfts FX90608 7,1037,413Hospital & Medical (dental) Ins, Empl Bnft TOTAL Employee Benefits 11,643 12,983 FX97306 75,000Debt Principal, Bond Anticipation Notes TOTAL Debt Principal 0 75,000 FX97307 22,438Debt Interest, Bond Anticipation Notes TOTAL Debt Interest 0 22,438 TOTAL Expenditures 315,261 423,257 FX99019 24,90024,000Transfers, Other Funds FX99509148,835Transfers, Capital Projects Fund TOTAL Operating Transfers 172,835 24,900 TOTAL Other Uses 172,835 24,900 TOTAL Detail Expenditures And Other Uses 488,096 448,157 Page 16 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 (FX) WATER Changes in Fund Equity Code Description 2010 EdpCode 2011 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 53,837 FX8021 1,438 Restated Fund Equity - Beg of Year 53,837 FX8022 1,438 ADD - REVENUES AND OTHER SOURCES 435,697 514,611 DEDUCT - EXPENDITURES AND OTHER USES 488,096 448,157 Fund Equity - End of Year 1,438 FX8029 67,892 Page 17 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Code Description (FX) WATER Budget Summary EdpCode 20122011 Estimated Revenues Est Rev - Departmental Income 494,180 FX1299N 516,800 Est Rev - Use of Money And Property 700 FX2499N 200 Est Rev-Miscellaneous Local Sources 1,120 FX2799N 0 496,000 517,000TOTAL Estimated Revenues 496,000 517,000TOTAL Estimated Revenues And Other Sources OSC Municipality Code 500442300850Page 18 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Code Description (FX) WATER Budget Summary EdpCode 20122011 Appropriations App - General Government Support 26,850 FX1999N 23,000 App-Home And Community Services 350,000 FX8999N 352,400 App - Employee Benefits 21,550 FX9199N 15,460 App - Debt Service 73,600 FX9899N 100,000 472,000 490,860TOTAL Appropriations App - Interfund Transfer 24,000 FX9999N 26,140 24,000 26,140TOTAL Other Uses 496,000 517,000TOTAL Appropriations And Other Uses OSC Municipality Code 500442300850Page 19 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (G) SEWER Code Description 2010 EdpCode 2011 Assets Cash 45,527 G200 179,629 Cash In Time Deposits 627,670 G201 924,332 TOTAL Cash 673,197 1,103,961 Sewer Rents Receivable 0 G360 Accounts Receivable 0 G380 1,122 TOTAL Other Receivables (net)0 1,122 Due From Other Funds 243,584 G391 TOTAL Due From Other Funds 243,584 0 Due From Other Governments 0 G440 TOTAL Due From Other Governments 0 0 Prepaid Expenses G480 728 TOTAL Prepaid Expenses 0 728 Cash Special Reserves 0 G230 TOTAL Restricted Assets 00 TOTAL Assets 916,781 1,105,811 OSC Municipality Code 500442300850Page 20 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (G) SEWER Code Description 2010 EdpCode 2011 Liabilities Accounts Payable 54,372 G600 68,933 TOTAL Accounts Payable 54,372 68,933 Accrued Liabilities 0 G601 2,991 TOTAL Accrued Liabilities 0 2,991 Due To Other Funds 0 G630 34,821 TOTAL Due To Other Funds 0 34,821 TOTAL Liabilities 54,372 106,745 Reserve For Encumbrances 0 G821 TOTAL Reserve For Encumbrances 00 Reserve For Repairs 0 G882 TOTAL Special Reserves 00 Unreserved Fund Balance Appropriated 8,280 G910 100,000 TOTAL Unreserved Fund Balance - Appropriated 8,280 100,000 Unreserved Fund Balance Unappropriated 854,129 G911 899,066 TOTAL Unreserved Fund Balance - Unappropriated 854,129 899,066 TOTAL Fund Equity 862,409 999,066 TOTAL Liabilities And Fund Equity 916,781 1,105,811 OSC Municipality Code 500442300850Page 21 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (G) SEWER Code Description 2010 EdpCode 2011 Revenues G1001Real Property Taxes TOTAL Real Property Taxes 00 G2120 235,494228,506Sewer Rents G21220Sewer Charges G21280Interest & Penalties On Sewer Accts TOTAL Departmental Income 228,506 235,494 G2374 685,629680,760Sewer Serv Other Govts TOTAL Intergovernmental Charges 680,760 685,629 G2401 4,4253,960Interest And Earnings TOTAL Use of Money And Property 3,960 4,425 G2590500Permits, Other TOTAL Licenses And Permits 500 0 G26800Insurance Recoveries TOTAL Sale of Property And Compensation For Loss 0 0 G2770 11,29214,918Unclassified (specify) TOTAL Miscellaneous Local Sources 14,918 11,292 G3989 12,34011,040St Aid, Other Home And Comm Serv TOTAL State Aid 11,040 12,340 TOTAL Revenues 939,684 949,180 G5031243,584Interfund Transfers TOTAL Interfund Transfers 243,584 0 TOTAL Other Sources 243,584 0 TOTAL Detail Revenues And Other Sources 1,183,268 949,180 Page 22 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (G) SEWER Code Description 2010 EdpCode 2011 Expenditures G19104 14,1209,210Unallocated Insurance, Contr Expend TOTAL Unallocated Insurance 9,210 14,120 G19504 206206Taxes & Assess On Munic Prop, Contr Expend TOTAL Taxes & Assess On Munic Prop 206 206 TOTAL General Government Support 9,416 14,326 G81104Sewer Administration, Contr Expend TOTAL Sewer Administration 00 G81201 36,48929,350Sanitary Sewers, Pers Serv G81202 21,03923,485Sanitary Sewers, Equip & Cap Outlay G81204 7,8639,691Sanitary Sewers, Contr Expend TOTAL Sanitary Sewers 62,526 65,391 G81301 3,3922,202Sewage Treat Disp, Pers Serv G81302 2,4199,173Sewage Treat Disp, Equip & Cap Outlay G81304 535,908522,073Sewage Treat Disp, Contr Expend TOTAL Sewage Treat Disp 533,448 541,719 TOTAL Home And Community Services 595,975 607,110 G90108 4,8472,135State Retirement, Empl Bnfts G90308 3,0972,319Social Security , Empl Bnfts G90408 1,238924Worker's Compensation, Empl Bnfts G90508 369257Unemployment Insurance, Empl Bnfts G90558 1911Disability Insurance, Empl Bnfts G90608 11,5579,895Hospital & Medical (dental) Ins, Empl Bnft TOTAL Employee Benefits 15,541 21,127 G97106 40,00010,000Debt Principal, Serial Bonds TOTAL Debt Principal 10,000 40,000 G97107 24,8928,171Debt Interest, Serial Bonds TOTAL Debt Interest 8,171 24,892 TOTAL Expenditures 639,103 707,455 G99019 105,06768,000Transfers, Other Funds TOTAL Operating Transfers 68,000 105,067 TOTAL Other Uses 68,000 105,067 TOTAL Detail Expenditures And Other Uses 707,103 812,522 Page 23 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 (G) SEWER Changes in Fund Equity Code Description 2010 EdpCode 2011 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 386,244 G8021 862,409 Restated Fund Equity - Beg of Year 386,244 G8022 862,409 ADD - REVENUES AND OTHER SOURCES 1,183,268 949,180 DEDUCT - EXPENDITURES AND OTHER USES 707,103 812,522 Fund Equity - End of Year 862,409 G8029 999,067 Page 24 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Code Description (G) SEWER Budget Summary EdpCode 20122011 Estimated Revenues Est Rev - Departmental Income 233,730 G1299N 205,590 Est Rev-Intergovernmental Charges 683,424 G2399N 598,620 Est Rev - Use of Money And Property 2,000 G2499N 4,000 Licenses And Permits 1,000 G2599N 500 Est Rev-Miscellaneous Local Sources 846 G2799N 10,290 Est Rev - State Aid 4,000 G3099N 8,000 925,000 827,000TOTAL Estimated Revenues Appropriated Fund Balance 8,280 G599N 100,000 8,280 100,000TOTAL Estimated Other Sources 933,280 927,000TOTAL Estimated Revenues And Other Sources OSC Municipality Code 500442300850Page 25 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Code Description (G) SEWER Budget Summary EdpCode 20122011 Appropriations App - General Government Support 58,750 G1999N 53,870 App - Home And Community Services 720,450 G8999N 711,650 App - Employee Benefits 27,950 G9199N 23,830 App - Debt Service 58,130 G9899N 64,150 865,280 853,500TOTAL Appropriations App - Interfund Transfer 68,000 G9999N 73,500 68,000 73,500TOTAL Other Uses 933,280 927,000TOTAL Appropriations And Other Uses OSC Municipality Code 500442300850Page 26 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (H) CAPITAL PROJECTS Code Description 2010 EdpCode 2011 Assets Cash -37,051 H200 -27,680 Cash In Time Deposits -510,821 H201 -8,194 TOTAL Cash -547,872 -35,874 Accounts Receivable H380 133,021 TOTAL Other Receivables (net)0 133,021 State & Federal Receivables 102,000 H410 TOTAL State And Federal Aid Receivables 102,000 0 Due From Other Funds 0 H391 74 TOTAL Due From Other Funds 07 4 Cash Special Reserves 0 H230 TOTAL Restricted Assets 00 Misc Current Assets H489 TOTAL Other 00 TOTAL Assets -445,872 97,221 OSC Municipality Code 500442300850Page 27 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (H) CAPITAL PROJECTS Code Description 2010 EdpCode 2011 Liabilities Accounts Payable 9,838 H600 20,270 TOTAL Accounts Payable 9,838 20,270 Accrued Liabilities 0 H601 TOTAL Accrued Liabilities 00 Retained Percentages, Cont Pay 351 H605 351 TOTAL Retained Percentages 351 351 Due To Other Funds 243,584 H630 TOTAL Due To Other Funds 243,584 0 TOTAL Liabilities 253,773 20,621 Reserve For Encumbrances 0 H821 TOTAL Reserve For Encumbrances 00 Reserve For Repairs 0 H882 TOTAL Special Reserves 00 Unreserved Fund Balance Appropriated 26,087 H910 TOTAL Unreserved Fund Balance - Appropriated 26,087 0 Unreserved Fund Balance Unappropriated -725,732 H911 76,600 TOTAL Unreserved Fund Balance - Unappropriated -725,732 76,600 TOTAL Fund Equity -699,645 76,600 TOTAL Liabilities And Fund Equity -445,872 97,221 OSC Municipality Code 500442300850Page 28 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (H) CAPITAL PROJECTS Code Description 2010 EdpCode 2011 Revenues H2397 133,0210Capital Projects-Other Local Govts TOTAL Intergovernmental Charges 0 133,021 H24010Interest And Earnings TOTAL Use of Money And Property 0 0 H27050Gifts And Donations H2770Unclassified (specify) TOTAL Miscellaneous Local Sources 0 0 H39890St Aid, Other Home And Comm Serv H399092,051St Aid, Sewer Cap Proj TOTAL State Aid 92,051 0 TOTAL Revenues 92,051 133,021 H5031 188,568238,858Interfund Transfers TOTAL Interfund Transfers 238,858 188,568 H5710Serial Bonds H5730 230,0001,000,000Bond Anticipation Notes H5731Bans Redeemed From Appropriations TOTAL Proceeds of Obligations 1,000,000 230,000 TOTAL Other Sources 1,238,858 418,568 TOTAL Detail Revenues And Other Sources 1,330,908 551,589 Page 29 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Results of Operation (H) CAPITAL PROJECTS Code Description 2010 EdpCode 2011 Expenditures H16202 90021,113Buildings, Equip & Cap Outlay TOTAL Buildings 21,113 900 H164020Central Garage, Equip & Cap Outlay TOTAL Central Garage 00 TOTAL General Government Support 21,113 900 H34102 418,1920Fire, Equip & Cap Outlay TOTAL Fire 0 418,192 TOTAL Public Safety 0 418,192 H514220Snow Removal, Equip & Cap Outlay TOTAL Snow Removal 00 H56302 20,8308,909Bus Operations, Equip & Cap Outlay TOTAL Bus Operations 8,909 20,830 TOTAL Transportation 8,909 20,830 H812020Sanitary Sewers, Equip & Cap Outlay TOTAL Sanitary Sewers 00 H81302 35,067804,496Sewage Treat Disp, Equip & Cap Outlay TOTAL Sewage Treat Disp 804,496 35,067 H816020Refuse & Garbage, Equip & Cap Outlay TOTAL Refuse & Garbage 00 H834021,092,455Water Trans & Distrib, Equip & Cap Outlay TOTAL Water Trans & Distrib 1,092,455 0 H851020Comm Beautification, Equip & Cap Outlay TOTAL Comm Beautification 00 TOTAL Home And Community Services 1,896,951 35,067 H971060Debt Principal, Serial Bonds H973060Debt Principal, Bond Anticipation Notes TOTAL Debt Principal 00 H971070Debt Interest, Serial Bonds TOTAL Debt Interest 00 TOTAL Expenditures 1,926,973 474,989 H99019243,584Transfers, Other Funds H995090Transfers, Capital Projects Fund TOTAL Operating Transfers 243,584 0 TOTAL Other Uses 243,584 0 TOTAL Detail Expenditures And Other Uses 2,170,556 474,989 Page 30 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 (H) CAPITAL PROJECTS Changes in Fund Equity Code Description 2010 EdpCode 2011 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 140,003 H8021 -699,645 Prior Period AdJ.- Increase In Fund Equity H8012 699,645 Restated Fund Equity - Beg of Year 140,003 H8022 ADD - REVENUES AND OTHER SOURCES 1,330,908 551,589 DEDUCT - EXPENDITURES AND OTHER USES 2,170,556 474,989 Fund Equity - End of Year -699,645 H8029 76,600 Page 31 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (K) GENERAL FIXED ASSETS Code Description 2010 EdpCode 2011 Assets Land 102,401 K101 102,401 Buildings 6,949,328 K102 6,949,328 Machinery & Equipment 4,238,137 K104 4,404,297 Infrastructure 39,734,830 K106 40,337,443 Accum Deprec, Buildings -1,476,839 K112 -1,608,581 Accum Depr, Machinery & Equip -1,678,403 K114 -2,050,289 Accum Deprec, Infrastructure -21,439,951 K116 -22,147,321 TOTAL Fixed Assets (net)26,429,503 25,987,278 TOTAL Assets 26,429,503 25,987,278 OSC Municipality Code 500442300850Page 32 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (K) GENERAL FIXED ASSETS Code Description 2010 EdpCode 2011 Fund Equity Total Non-Current Govt Assets 26,429,503 K159 25,987,278 TOTAL Investments in Non-Current Government Assets 26,429,503 25,987,278 TOTAL Fund Equity 26,429,503 25,987,278 TOTAL Liabilities And Fund Equity 26,429,503 25,987,278 OSC Municipality Code 500442300850Page 33 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (TA) AGENCY Code Description 2010 EdpCode 2011 Assets Cash 3,918 TA200 -1,748 TOTAL Cash 3,918 -1,748 Due From Other Funds TA391 5,043 TOTAL Due From Other Funds 0 5,043 TOTAL Assets 3,918 3,295 OSC Municipality Code 500442300850Page 34 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (TA) AGENCY Code Description 2010 EdpCode 2011 Liabilities Due To Other Funds 980 TA630 118 TOTAL Due To Other Funds 980 118 State Retirement 1,731 TA18 843 Disability Insurance 506 TA19 664 Group Insurance -1,785 TA20 1,270 Income Executions 0 TA23 Guaranty & Bid Deposits 2,485 TA30 400 TOTAL Agency Liabilities 2,938 3,177 TOTAL Liabilities 3,918 3,295 TOTAL Liabilities And Fund Equity 3,918 3,295 OSC Municipality Code 500442300850Page 35 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (W) GENERAL LONG-TERM DEBT Code Description 2010 EdpCode 2011 Assets Total Non-Current Govt Liabilities 2,641,980 W129 3,407,879 TOTAL Provision To Be Made In Future Budgets 2,641,980 3,407,879 TOTAL Assets 2,641,980 3,407,879 OSC Municipality Code 500442300850Page 36 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet (W) GENERAL LONG-TERM DEBT Code Description 2010 EdpCode 2011 General Long Term Debt Bond Anticipation Notes Payable 1,000,000 W626 1,155,000 TOTAL Notes Payable 1,000,000 1,155,000 Compensated Absences 126,980 W687 143,658 TOTAL Other Liabilities 126,980 143,658 Bonds Payable 1,515,000 W628 2,109,221 TOTAL Bond And Long Term Liabilities 1,515,000 2,109,221 TOTAL Liabilities 2,641,980 3,407,879 TOTAL General Long Term Debt 2,641,980 3,407,879 OSC Municipality Code 500442300850Page 37 VILLAGE OF Cayuga Heights Annual Update Document For the Fiscal Year Ending 2011 VILLAGE OF Cayuga Heights Financial Comments For the Fiscal Year Ending 2011 (H) CAPITAL PROJECTS Adjustment Reason Correction of Prior Year Fund EquityAccount Code H8012 Page 38 OSC Municipality Code 500 VILLAGE OF Cayuga Heights Statement of Indebtedness For the Fiscal Year Ending 2011 Water and Other Purposes Exempt From Constitutional Debt Limit Purpose of Issue Current Interest Rate EDPCODE Amount text 5/27/2011 text r System Improvement text Month and Year of Issue Bond Anticipation Note No. 2011000001 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18663 text text 2P18665 0 2P18667 925,000 text 5/25/2012 text text 925,000 2.0000 2P18661 0 0text Purpose of Issue Current Interest Rate EDPCODE Amount text 5/31/2011 text Fire Truck text Month and Year of Issue Bond Anticipation Note No. 2011000002 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18663 text text 2P18665 0 2P18667 230,000 text 5/31/2012 text text 230,000 1.6000 2P18661 0 0text Purpose of Issue Current Interest Rate EDPCODE Amount text 5/28/2010 text r System Improvement text Month and Year of Issue Bond Anticipation Note No. 2010000001 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18663 text text 2P18665 1,000,000 2P18667 0 text 5/27/2011 text text 0 2.2500 2P18661 1,000,000 0text Total Bond Anticipation Note Outstanding Beginning of Year Amount 1,000,000 Prior Year Adjustment 0 Paid During Fiscal Year Outstanding End of Year 1,155,000 *** Bond Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year 2P18885 925,000 1,000,000 Issued During Fiscal Year 1,155,000 Page 39 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Statement of Indebtedness For the Fiscal Year Ending 2011 Water and Other Purposes Exempt From Constitutional Debt Limit Purpose of Issue Current Interest Rate EDPCODE Amount text 6/21/2010 text hosphorous Treatment text Month and Year of Issue Bond No. 2011000004 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18673 text text 2P18675 30,000 2P18677 704,221 text 10/1/2030 text text 734,221 4.2000 2P18671 0 0text Total Bond Outstanding Beginning of Year Amount 0 Prior Year Adjustment 0 Paid During Fiscal Year Outstanding End of Year 704,221 0 30,000 Issued During Fiscal Year 734,221 Page 40 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit Purpose of Issue Current Interest Rate EDPCODE Amount text 6/15/2000 text Fire Projects text Month and Year of Issue Bond No. 2001000001 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18773 text text 2P18775 50,000 2P18777 605,000 text 6/15/2019 text text 0 6.0000 2P18771 655,000 0text Purpose of Issue Current Interest Rate EDPCODE Amount text text text Month and Year of Issue Bond No. 2011000003 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18773 text text 2P18775 2P18777 text text text 2P18771 text Purpose of Issue Current Interest Rate EDPCODE Amount text 7/28/2005 text TRICKLING FILTERS text Month and Year of Issue Bond No. 2009000001 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18773 text text 2P18775 10,000 2P18777 195,000 text 7/28/2025 text text 0 2.0000 2P18771 205,000 0text Page 41 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit Purpose of Issue Current Interest Rate EDPCODE Amount text 5/17/2000 text Fire Projects 1 text Month and Year of Issue Bond No. 2001000005 Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date text text text 2P18773 text text 2P18775 50,000 2P18777 605,000 text 5/15/2019 text text 0 6.0000 2P18771 655,000 0text Total Bond Outstanding Beginning of Year Amount 1,515,000 Prior Year Adjustment 0 Paid During Fiscal Year Outstanding End of Year 1,405,000 0 110,000 Issued During Fiscal Year 0 ****************************************************************************************************************************************************************************************************************************************************************************** Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond Amount Outstanding Beginning of Year 2,515,000 0Prior Year Adjustment Issued During Fiscal Year 1,889,221 Paid During Fiscal Year 1,140,000 Outstanding End of Year 3,264,221 Page 42 OSC Municipality Code 500442300850 VILLAGE OF Cayuga Heights Schedule of Time Deposits and Investments For the Fiscal Year Ending 2011 EDP Code Amount CASH: On Hand 9Z2001 $2,746,509.00 Demand Deposits 9Z2011 $0.00 Time Deposits 9Z2021 $0.00 Total $2,746,509.00 COLLATERAL: - FDIC Insurance 9Z2014 $500,000.00 9Z2014A $3,403,416.00 INVESTMENTS: - Securities (450) Book Value (cost) 9Z4501 $0.00 Market Value at Balance Sheet Date 9Z4502 $0.00 9Z4504A $0.00 - Repurchase Agreements (451) Book Value (cost) 9Z4511 $0.00 Market Value at Balance Sheet Date 9Z4512 $0.00 9Z4514A $0.00 $3,903,416.00 Collateralized with securities held in possession of municipality or its agent Collateralized with securities held in possession of municipality or its agent Collateralized with securities held in possession of municipality or its agent Total Page 43 OSC Municipality Code 500442300850 Bank Account Number Bank Balance Add: Deposit In Transit Less: Outstanding Checks Adjusted Bank Balance *****-1918 $447,364 $0 $171 $447,193 *****-1918 ($815)$0 $5 ($820) *****-1918 $2,300,710 $0 $0 $2,300,710 Total Adjusted Bank Balance Petty Cash Adjustments Total Cash 9ZCASH * Total Cash Balance All Funds 9ZCASHB * * Must be equal $2,747,083 $355.00 $-929.00 $2,746,509 $2,720,422 OSC Municipality Code 500442300850Page 44 VILLAGE OF Cayuga Heights Bank Reconciliation For the Fiscal Year Ending 2011 Include All Checking, Savings and C.D. Accounts VILLAGE OF Cayuga Heights Local Government Questionnaire For the Fiscal Year Ending 2011 Response Yes No Yes Yes Does your municipality have a written procurement policy? Have the financial statements for your municipality been independently audited? If not, are you planning on having an audit conducted? Does your local government participate in an insurance pool with other local governments? If yes, has your municipality used the results to design the system of internal controls? 1) 2) 3) 4) 5) 6) 7) 9) 8) Has your municipality prepared and documented a risk assessment plan?No Does your municipality have a Capital Plan?No Does your municipality have a Length of Service Award Program (LOSAP) for volunteer firefighters? No Does your local government participate in an investment pool with other local governments? No Have you had a change in chief executive or chief fiscal officer during the last year? Has your Local Government adopted an investment policy as required by General Municipal Law, Section 39? Yes Yes Page 45 VILLAGE OF Cayuga Heights Employee and Retiree Benefits For the Fiscal Year Ending 2011 # of Retirees# of Full Time Employees # of Part Time Employees Total Expenditures (All Funds) Account Code Description 715$100,078.0090108State Retirement System 6$122,153.0090158Police and Fire Retirement $0.0090258Local Pension Fund 21 7$112,300.0090308Social Security 21 7$44,894.0090408Worker's Compensation Insurance $0.0090458Life Insurance 21 7$13,365.0090508Unemployment Insurance 21 7$672.0090558Disability Insurance 20$419,101.0090608Hospital and Medical (Dental) Insurance $0.0090708Union Welfare Benefits $0.0090858Supplemental Benefit Payment to Disabled Fire Fighters 91890 Other Employee Benefits $0.00 Total Full Time Employees: Total Part Time Employees: Total Computed Total From Financial Section (comparative purposes only) $812,563.00 $812,563.00 Page 46 OSC Municipality 500442300850 VILLAGE OF Cayuga Heights Energy Costs and Consumption For the Fiscal Year Ending 2011 Units Of Measure Total VolumeTotal Expenditures Energy Type Alternative Units Of Measure gallons$21,081Gasoline gallons$36,309Diesel Fuel gallons$Fuel Oil cubic feet$46,686Natural Gas kilowatts$142,016Electricity tons$Coal Page 47 OSC Municipality 500442300850 VILLAGE OF Cayuga Heights Schedule of Other Post Employment Benefits (OPEB) For the Fiscal Year Ending 2011 Annual OPEB Cost and Net OPEB Obligation Type of Other Post Employment Benefits Plan Annual Required Contribution(ARC) Interest on Net OPEB Obligation Adjustment to Annual Required Contribution Annual OPEB Expense Less: Actual Contribution Made Increase in Net OPEB Obligation Net OPEB Obligation - beginning of year Net OPEB Obligation - end of year Total Other Post Employment Benefits as reported in Accounts 683 in Financial Section, Current Fiscal Year Percentage of Annual OPEB Cost Contributed (Actual Contribution Made/Annual OPEB Cost) Funded Status and Funding Process Actuarial Accrued Liability(AAL) Less: Actuarial Value of Plan Assets Unfunded Actuarial Accrued Liability(UAAL) Funded Ratio(Actuarial Value of Plan Assets/AAL) Annual Covered Payroll (of active employees covered by the plan) UAAL as Percentage of Annual Covered Payroll Other OPEB Information Date of most recent actuarial valuation Actuarial method used Assumed rate of return on investments discount rate Amortization period of UAAL(in years) .00% Page 48 OSC Municipality 500442300850 CERTIFICATION OF CHIEF FISCAL OFFICER and filed by means of electronic data transmission. Steven Greenberg Name of Report Preparer if different than Chief Fiscal Officer Name (607) 257-1238 Treasurer Telephone Number Title 836 Hanshaw Road, Ithaca, NY 1485 Official Address 09/26/2011 (607) 257-1238 Date of Certification Official Telephone Number , hereby certify that I am the Chief Fiscal Officer ofSteven Greenberg By entering the personal indentification number assigned by the Office of the State Comptroller to me as Village of Cayuga Heights , and that the information provided in the annual I, the the Chief Fiscal Officer of the annual financial report, I am evidencing my express intent to authenticate my certification of the my signature for use in conjunction with the filing of the 'sVillage of Cayuga Heights Village of Cayuga Heights , and adopted by me as and correct to the best of my knowledge and belief., is TRUE financial report of the Village of Cayuga Heights , for the fiscal year ended 05/31/2011 Village of Cayuga Heights's annual financial report for the fiscal year ended 05/31/2011 Page 49 Municipality Code 500442300850 VILLAGE OF CAYUGA HEIGHTS NOTES TO FINANCIAL STATEMENTS YEAR ENDED MAY 31, 2011 A. Summary of Significant Accounting Policies 1. Reporting Entity The Village of Cayuga Heights is governed by Village Law and other general laws of the State of New York. The governing body is the Board of Trustees. The scope of activities included within the accompanying financial statements are those transactions that comprise Village operations, and are governed by, or significantly influenced by, the Board of Trustees. 2. Basis of Presentation -- Fund Accounting Generally Accepted Accounting Principles (GAAP), as well as the New York Uniform System of Accounts for Villages (NYUSA), require that the accounts of the village be organized on the basis of funds, which are summarized for reporting by governmental fund types. Each fund is discrete in that a self-balancing set of accounts is maintained which comprises assets, liabilities, fund balance, revenues, and expenditures. In addition, fixed assets and long-term obligations are accounted for and reported in account groups. Governmental Fund Types Governmental funds are those funds used to account for, and report, the operations of the Village. The acquisition, use, and balances of financial resources and related assets and liabilities are reported therein. The measurement focus is the determination of changes in financial position rather than net income determination. The following funds and aggregate governmental fund types are employed in accounting for and reporting Village operations. General Fund - The general fund is the principal operating fund of the Village and is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special revenue funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specific purposes. Special revenue funds included the following funds: - Sewer - used to account for operating a waste water treatment system. - Water Use Fund - used to account for water use collection and payment to Southern Cayuga Lake Intermunicipal Water Commission (SCLIWC). Capital Projects Fund - The capital projects fund is used to account for and report financial resources used for the acquisition, or construction or renovation of major capital facilities or equipment. - Fiduciary Fund Types Fiduciary fund types consist of trust and agency funds and are used to account for and report assets held by the Village in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or funds. Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. - Account Groups Account groups are used to establish accountability for general fixed assets and general long-term obligations. General Fixed Asset Group of Accounts - The general fixed asset group of accounts is used to account for and report all fixed assets of the Village such as land, buildings, and equipment, other than those that are reported in a trust fund. General Long-Term Debt Group of Accounts - The general long-term debt group of accounts is used to account for, and report, outstanding long-term indebtedness and other obligations of the Village. Long-term indebtedness includes obligations such as bonds and capital notes. Other obligations include unbilled retirement liabilities, and vested or accumulated vacation and sick leave. 3. Basis of Accounting - Governmental Fund Types The modified accrual basis of accounting is employed for governmental fund types and expendable trust. Revenue is recognized when measurable and available. Otherwise it is recognized when cash is received. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. If "Expenditure" is the primary factor for determining reimbursement under the terms of a grant, revenue is recognized when the expenditure is incurred. Expenditures are generally recognized when incurred; general long-term indebtedness, unbilled retirement liabilities and vested or accumulated vacation and/or sick leave are recognized as expenditures when due and payable. 4. Budgeting Policies - Governmental Fund Types General The Village's policy relating to budgetary information as shown in the accompanying financial statements is as follows: - Village administration prepares a proposed budget for approval by the Board of Trustees. - Appropriations established by adoption of the budget constitute a limitation on expenditures and encumbrances that may be incurred. - The New York Uniform System of Accounts requires that fixed budgetary control be used for all governmental fund types. Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve application appropriations, is employed as a control in preventing over expenditure of established appropriations. Open encumbrances are reported as a reservation of fund balance since such commitments will be honored through budget appropriation in the subsequent year. Encumbrances do not constitute expenditures or liabilities, although in some cases they may in fact reflect a contractual liability. 5. Property taxes Real property taxes are levied annually by the Board of Trustees. Uncollected real property taxes are subsequently enforced by the County of Tompkins. An amount representing uncollected real property taxes transmitted to the County for enforcement is paid by the County to the Village no later than the forthcoming April 1. 6. General Fixed Assets Land and equipment are valued at cost. Buildings are valued at estimated original cost as determined primarily by an independent appraisal concern. The Village engaged Industrial Appraisal Company to determine values for all fixed assets in 1994-95, and a one-time adjustment was made to incorporate their results. The Village raised its capitalization threshold for equipment to $1,000 as of 5/31/2004, and these accounts have been adjusted for this change. In 2005 estimates were made for the cost of Village “infrastructure” and the accumulated depreciation thereon. Depreciation is calculated on all assets with an acquisition cost of at least $25,000. 7. General Long-Term Debt - General Long-Term Indebtedness Bonds and capital notes issued for capital projects are recognized when issued. 8. Pension Plans The Village participates in the New York State Local Employees' Retirement System and the New York State Police and Fire Retirement System. Generally, all employees, expect certain part-time employees, participate in the System. The Systems are non-contributory for employees who joined the retirement on or before July 27, 1976. Those who joined after July 27, 1976, with less than 10 years of service credit, contribute 3% of their salary. Contributions are billed on the basis of estimated salaries paid during the System's year ending March 31. The amount billed by the Systems in the year totaled $184,371 and related to the estimated salaries from April 1, 2010 to March 31, 2011. The contributions are paid in accordance with funding requirements determined by the Systems' actuaries. The Systems offer a wide range of plans and benefits which are related to years of service and final average salary, vesting of retirement benefits, death and disability benefits and optional methods of benefit payments. a. Governmental Funds - It is the policy of the Village to fund pension costs as billed by the Systems. b. The actuarial present value (APV) of credited project benefits is a standardized disclosure measure of the accrued pension benefit or obligation. It is the discounted amount of benefits estimated to be payable in the future as a result of employee service through the balance sheet date, computed by attributing an equal benefit amount including the effects of project salary increase and step rate benefits to each year and expected future employee service. Data concerning the actuarial present value of the accumulated plan benefits, vested plan benefits, and net assets available for budgets of these plans which are relevant to the Village are not available since such determinations are made on a statewide basis and are not for individual participating units. 9. Compensatory Absences Employees accrue vacation leave based primarily on the number of years employed, up to a maximum rate of 25 (depending on labor agreement or policy) days a year, but may accumulate no more than a maximum of 50 days. Upon separation from service, employees are paid the accrued balance, up to the maximum amount. Employees accrue sick leave at the rate of 12 days per year and may accumulate such credits without limit. Employees who terminate with at least 10 years of service are paid the balance of this amount in excess of an amount ranging from 680 to 960, depending on the policy or collective bargaining agreement and standard work-week, at their final rate of pay. Employees with more than 20 years of service, whose accrual is over the payout level, may have the overage paid out annually. Police officers may accrue compensatory time in lieu of overtime, as defined in the collective bargaining agreement. This amount may be drawn upon, subject to a monthly contractual limit, at any time, and the balance is paid upon separation from service at their final rate of pay. Vested vacation, sick leave, and compensatory time are recorded as a long-term liability in the long-term debt account group. The liability for compensated absences increased by $16,678 during the year to $143,658. 10. Post Employment Health Insurance Benefits In addition to providing pension benefits, the Village of Cayuga Heights provides a portion of the premiums for health insurance coverage for retired employees and covered family members during the life of the employee. Substantially all of the Village of Cayuga Heights’ full-time employees may become eligible for these benefits if they reach normal retirement age while working for the Village of Cayuga Heights. Health care benefits are provided through an insurance company whose premiums are based on the benefits paid (for the rating pool) during the year. The Village of Cayuga Heights recognizes the cost of providing benefits by recording its share of insurance premiums as an expenditure in the year paid. During the year $105,196 was paid on behalf of 11 retirees and is recorded as expenditures in the General, Water, and Sewer funds. 11. Indebtedness Bond Anticipation Notes – The following balances of bond anticipation notes appear as obligations in the general long-term debt group of accounts and were outstanding at May 31, 2011 Date of Date of Rate of Balance Purpose Issue Maturity Interest May 31, 2011 WATER LINES 5/27/2011 5/25/2012 2.00% 925,000 FIRE TRUCK 5/31/2011 5/31/2012 1.60% 230,000 Serial Bonds Payable - The following balances of serial bond issues appear as obligations in the general long-term debt group of accounts and were outstanding at May 31, 2011. Year of Year of Rate of Balance Purpose Issue Maturity Interest May 31, 2011 Bonds Payable: FIRE PROJECTS 2000 2019 6.0% 605,000 FIRE PROJECTS 2000 2019 6.0% 605,000 TRICKLING FILT 2005 2024 * 219,000 On June 21, 2010, subsequent to 5/31/2010 the following bond, originally scheduled for FY2010, was issued: PHOSPHORUS 2010 2030 4.20% 734,211 * Interest rates varying from 2.059% to 3.969%. The interest rate is further adjusted by a 50% Environmental Facilities Corporation subsidy and the loan is subject to a 0.25% annual administrative fee. B. Summary Disclosure of Significant Contingencies 1. Pending Litigation There is a pending claim by Verizon, Inc. regarding damage to its underground facilities. While the Village believes that the claim has no merit, it maintains sufficient insurance to cover any payment. In the opinion of management there are no other pending claims against the Village that are expected to have a material effect on the Village’s finances.