GASB STATEMENT NO. 44
THE NEW STATISTICAL SECTION
Presented by Ken Al-Imam, C.P.A.
MAYER HOFFMAN MCCANN P.C.
CONRAD GOVERNMENT SERVICES DIVISION
(formerly Conrad and Associates, L.L.P.)
2301 Dupont Drive, Suite 200
Irvine, California 92612
(949) 474-2020 Ext. 273
kalimam@cbiz.com
REQUIRED IMPLEMENTATION DATE
• Required to be implemented for years
ending June 30, 2006.
2
WHY GASB 44 WAS NEEDED
•
•
•
•
Prior guidance unchanged since 1980
Prior guidance vague
Wide variation in reporting
GASB 34 Changes
3
WHEN APPLICABLE
• Statistical section is optional under GAAP.
• If include, must fully comply.
4
STATISTICAL INFORMATION
PRESENTED IN 5 CATEGORIES
•
•
•
•
•
Financial Trends Information
Revenue Capacity Information
Debt Capacity Information
Demographic and Economic Information
Operating Information
5
SCOPE OF DATA PRESENTED
• Primary Government Focus
• Data from Earlier Periods
6
FORMAT
• Completely discretionary
• Must include minimum requirements
• Graphical presentations can supplement,
but not replace tabular presentations
7
SOURCE
• Required (if not clearly flow from other
parts of report)
8
NARRATIVE INFORMATION
•
•
•
•
Can be in form of notes
How calculated
Assumptions or limitations
Changes in assumptions or data
9
NARRATIVE INFORMATION
•
•
•
•
Reconcile to financial section
Explain unusual data
Put the information in perspective
Help interpret the information
10
FINANCIAL TRENDS
INFORMATION
•
•
•
•
Net Assets (10 years)
Changes in Net Assets (10 years)
Fund Balances (10 years)
Changes in Fund Balances (10 years)
11
NET ASSET INFORMATION
• Government-wide data
• Three categories of net assets
• Governmental and business-type
shown separately
12
13
CHANGES IN NET ASSETS
• Government-wide data
• Summary of statement of activities
• Charges for services by function,
program, or activity
14
FUND BALANCES
•
•
•
•
Fund financial statement focus
Reserved and unreserved
General fund separately
Unreserved fund balances by fund
type
17
18
CHANGES IN FUND BALANCES
• Fund financial statements focus
• Revenues, expenditures, and other
changes
• Principal and interest
• Debt service as percentage of noncapital
expenditures
19
21
TAX REVENUES BY SOURCE
• Not required
• Use if believe this information would be
helpful to reader to asses financial condition
• Can provide trend information for significant
governmental revenues
22
Exhibit A-7
Schedule 6
City of Statistical
Tax Revenues by Source, Governmental Funds,
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal
Year
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
Property
$
a
15,995,182
16,105,883
15,138,090
16,437,018
16,242,615
15,880,677
15,905,680
18,641,088
21,345,165
24,153,481
Sales & Use
$
b
8,781,849
8,758,174
9,713,005
11,000,767
12,100,400
12,746,984
14,286,678
18,230,041
19,271,523
21,856,323
Occupancy
$
327,593
304,454
279,320
331,103
349,578
383,534
468,626
584,248
717,374
816,813
Property
Transfer
Franchise
$
723,490
780,474
755,944
842,422
894,130
954,799
1,366,863
1,542,614
1,635,455
1,870,141
$
225,826
201,637
224,205
252,089
304,647
372,934
476,515
545,644
657,544
627,824
Other
$ 213,760
344,630
174,146
91,386
86,350
103,416
112,778
106,366
116,031
110,738
Total
$
26,267,700
26,495,252
26,284,710
28,954,785
29,977,720
30,442,344
32,617,140
39,650,001
43,743,092
49,435,320
Change
20X0–20X9
51.0%
148.9%
149.3%
158.5%
178.0%
(48.2)%
88.2%
Notes:
a
The city was able to keep its property tax rates fairly stable during the last three years of this schedule because of substantial
growth in property tax values. (See Schedule 7.) The city has also received more resources because of improvements in
collection rates. (See Schedule 10.)
b
Sales and use tax revenues increased 149 percent in the past ten years due to a combination of rate increases (see
Schedule 12), growth in taxable retail sales (see Schedule 1), and several legislative measures to broaden the sales tax base.
23
REVENUE CAPACITY
INFORMATION
• Revenue Base (10 years)
• Revenue Rates (10 years)
• Principal Revenue Payers (current period and 9
years prior)
• Property tax levies and collections (10 years)
24
Revenue Capacity Schedules
For largest own-source revenue:
• Revenue base
• Revenue rates
• Principal payers
25
CCMA White Paper
•
•
•
•
•
Cover typical revenues for California
cities
Identify as own-source or shared
Consideration of all factors (legislative
history, unique California considerations)
Review conclusions with GASB/GFOA
Example schedules
26
Revenue Base
• Breakdown by major type of revenue
• Rate for each type (if different) and total
rate
• If property tax is one of the presented
revenues:
• Assessed value by major component
• Actual value
27
Exhibit A-8
Schedule 7
City of Numerical
Assessed Value and Estimated Actual Value of Taxable Property,
Last Ten Fiscal Years
(in thousands of dollars)
Fiscal
Year
Residential
Property
Commercial
Property
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
$ 2,593,519
2,697,275
2,648,721
2,688,372
2,710,909
2,857,171
3,118,397
3,426,648
3,912,429
4,374,719
$
1,815,464
1,888,093
1,854,105
1,881,861
1,897,637
2,000,020
2,182,878
2,398,654
2,738,700
3,062,304
Industrial
Property
$ 1,556,112
1,618,365
1,589,233
1,613,023
1,626,546
1,714,303
1,871,038
2,055,989
2,347,457
2,624,832
Source: Owen County Board of Equalization and Assessment.
Less:
Tax-Exempt
Property
Total Taxable
Assessed
Value
$
$
778,056
809,183
794,616
806,512
813,273
857,151
935,519
1,027,994
1,173,729
1,312,416
5,187,039
5,394,550
5,297,443
5,376,744
5,421,819
5,714,343
6,236,794
6,853,297
7,824,857
8,749,439
Total
Direct
Tax
Rate
$
4.05
3.62
3.32
3.21
3.22
3.10
2.96
2.95
2.85
2.98
Estimated
Actual
Taxable
Value
Taxable Assessed
Valuea as a
Percentage of
Actual Taxable Value
$ 12,958,647
13,477,070
13,234,466
13,432,585
13,545,192
14,275,998
15,581,225
17,121,417
19,548,645
21,858,501
40.028%
40.028
40.028
40.028
40.028
40.028
40.028
40.028
40.028
40.028
The note below is an example of how a government might meet the
Statement's requirement to disclose sources, assumptions, and
methodologies.
Notes: Property in Owen County is reassessed once every five years on average. The county assesses property at approximately 45
percent of actual value for commercial and industrial property and 35 percent for residential property. Estimated actual taxable value is
calculated by dividing taxable assessed value by those percentages. Tax rates are per $1,000 of assessed value.
a
Includes tax-exempt property.
The Statement requires that the information in this schedule be shown for each "period for which levied" and should be consistent with the periods
shown in the schedule of direct and overlapping revenue rates and schedule of property tax levies and collections. In the case of this illustrative
government, the period for which levied coincides with the fiscal year.
28
Exhibit A-12
Schedule 11
City of Statistical
Taxable Sales by Category,
Last Ten Calendar Years
(in thousands of dollars)
20W9
20X0
20X1
Apparel stores a
General merchandise
Food stores b
Eating and drinking establishments
Home furnishings and appliances
Building materials and farm tools
Auto dealers and supplies c
Service stations c
Other retail stores
All other outlets
$
10,849
31,852
17,394
28,542
12,180
27,860
37,070
19,265
48,791
116,198
$
10,067
32,567
16,437
28,300
12,496
27,367
42,574
18,670
48,805
111,599
$
Total
$ 350,001
$
348,882
$ 353,066
City direct sales tax rate
2.50%
2.50%
9,236
31,706
16,483
28,054
13,923
30,276
42,510
18,902
44,919
117,057
2.75%
Calendar Year
20X3
20X4
20X2
$
10,860
34,031
20,544
30,591
15,487
32,037
47,688
22,301
51,644
132,202
$ 397,385
2.75%
$
11,868
33,022
21,175
30,793
16,628
33,307
48,485
22,312
52,051
129,772
$ 399,413
3.00%
$
12,385
33,791
21,357
31,968
17,041
34,173
49,706
22,769
53,274
138,161
$ 414,625
3.00%
20X5
$
12,376
36,955
21,934
33,009
18,859
34,417
50,092
22,494
56,294
142,131
$ 428,561
3.25%
20X6
$
24,918
39,475
22,805
37,184
20,029
36,751
85,620
24,495
62,690
155,230
$ 509,197
3.50%
20X7
$
25,571
40,716
24,878
38,656
21,843
37,468
93,310
25,807
66,611
163,137
$ 537,997
20X8
$
27,088
43,651
26,944
41,555
23,715
38,924
136,471
27,563
70,097
171,143
$ 607,151
3.50%
3.50%
Source: State Department of Commerce.
Notes: Retail sales information is not available on a fiscal-year basis.
The exemption for clothing purchases under $100 was eliminated in 20X6.
b
General grocery items are not taxable; the sales tax applies only to prepared food items and nonfood items.
c
The sales tax base was broadened in 20X6 to include oil and lubrication establishments, and again in 20X8 to include repair and maintenance services.
a
The Statement requires that governments present revenue capacity information about their most significant own-source revenue. In the case of this illustrative government,
the property and sales taxes provide similar amounts of annual revenue. This government chose to disclose capacity information about both the property tax and the sales
tax.
29
Direct and Overlapping Rates
•
•
•
Show rates applied by the Entity
Show rates applied by overlapping
governments
Show total of direct and overlapping rates.
30
Schedule 8
City of Statistical
Direct and Overlapping Property Tax Rates,
Last Ten Fiscal Years
(rate per $1,000 of assessed value)
Exhibit A-9
Total
Direct
Rate
Overlapping Rates a
Shankly
Anfield
Flood
School
Control
Owen
District
District
County
$ 4.05
3.62
3.32
3.21
3.22
3.10
2.96
2.95
2.85
2.98
$ 2.10
2.25
2.31
2.33
2.35
2.35
2.39
2.37
2.45
2.45
City Direct Rates
Fiscal
Year
Basic
Rate
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
$ 1.89
1.75
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
General
Obligation
Debt
Service
$
0.17
0.17
0.17
0.17
0.21
0.24
0.20
0.18
0.16
0.14
Redevelopment
Debt
Service
Redevelopment
Program
$
$
1.76
1.47
1.26
1.15
1.12
0.97
0.87
0.88
0.80
0.95
Source: Owen County Board of Equalization and Assessment.
0.23
0.23
0.23
0.23
0.23
0.23
0.23
0.23
0.23
0.23
$
0.11
0.11
0.11
0.11
0.11
0.13
0.13
0.13
0.13
0.13
$ 4.32
4.36
4.42
4.48
4.56
4.61
4.65
4.60
4.52
4.23
This should be the same as the column shown in the
schedule of taxable assessed value of property (A-8).
Notes: The city's basic property tax rate may be increased only by a majority vote of the city's residents. Rates for debt service are
set based on each year's requirements.
a
Overlapping rates are those of local and county governments that apply to property owners within the City of Statistical. Not all
overlapping rates apply to all Statistical property owners; for example, although the county property tax rates apply to all city
property owners, the Flood Control District rates apply only to the approximately one-third of city property owners whose property is
located within that district's geographic boundaries.
Governments are required
to disclose any external
limitations on their ability to
change rates.
The Statement requires that the information in this schedule be shown for each period in which taxes are payable and should be
consistent with the periods shown in the schedule of taxable assessed value of property and schedule of property tax levies and
collections.
Regional governments are encouraged, but not required, to include the rates of overlapping governments in this schedule. They
are required, however, to present the direct rates for their most significant own-source revenue(s).
31
Exhibit A-13
Schedule 12
City of Statistical
Direct and Overlapping Sales Tax Rates,
Last Ten Fiscal Years
Fiscal
Year
City
Direct
Rate
Owen
County
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
2.50%
2.50
2.75
2.75
3.00
3.00
3.25
3.50
3.50
3.50
3.50%
3.50
3.50
3.50
3.75
3.75
4.00
4.00
4.00
4.00
This column should contain the same rates as the row
shown in the schedule of taxable sales (A-12).
Sources: City Budget Office and Owen County Department of Finance.
Note: The city sales tax rate may be changed only with the approval of the state legislature.
32
Principal Payers
•
•
•
•
Ten largest
From infinite life to finite life
Treated prospectively (from this point
forward)
Book value of asset (undepreciated) will
be depreciated over remaining life
33
Exhibit A-10
Schedule 9
City of Statistical
Principal Property Tax Payers,
Current Year and Nine Years Ago
20X9
Taxable
Assessed
Value
Taxpayer
Tofu Farmers of America, Inc.
Kenwood Health Plan, Inc.
Oak Energy Partners Ltd.
Reanimator Laboratories
Pine Scent Car Fresheners
Jamie Q. Public
Willow Container Corp.
Deanland Properties
Kramerica, Inc.
Vandelay Industries
Acorn Energy Partners Ltd.
Shrub Plaza Company
Wooden Acres Ltd.
Laurawood Farms
Fern Foundries
$
Total
$
120,316,033
85,616,816
82,521,151
69,373,517
18,686,454
18,320,000
17,504,162
15,455,204
14,666,419
13,298,369
—
—
—
—
—
455,758,125
Rank
1
2
3
4
5
6
7
8
9
10
20X0
Percentage
of Total City
Taxable
Assessed
Value
Taxable
Assessed
Value
1.38%
0.98
0.94
0.79
0.21
0.21
0.20
0.18
0.17
0.15
—
—
—
—
—
$
80,545,475
32,696,104
—
46,738,407
8,594,292
—
—
11,400,269
—
—
50,167,988
19,692,339
7,913,882
4,703,927
3,767,223
5.21%
$ 266,219,906
Rank
1
4
3
7
6
2
5
8
9
10
Percentage
of Total City
Taxable
Assessed
Value
1.53%
0.60
—
0.86
0.16
—
—
0.21
—
—
0.93
0.36
0.15
0.09
0.07
4.96%
Source: County Board of Equalization and Assessment.
This schedule serves a dual purpose of providing basic information about a jurisdiction's most significant revenue payers
and highlighting the degree to which a government is dependent on a small number of payers. The schedule should include
the ten largest payers, unless fewer are required to reach 50 percent of the revenue base. The columns identifying rank are
not required.
34
Exhibit A-14
Schedule 13
City of Statistical
Principal Sales Tax Remitters,
Current Year and Nine Years Ago
20X9
Tax
Liability
Tax Remitter
Massive Department Stores
Tasty Supermarkets
Neighborhood Market Inc.
The Chasm Ltd.
House Station
Everything for Cleaning
Supermarket World
Fast 'n' Good Foods
Bargain Hut
Burp & Burp
Quik-E-Marts
Shrubs & Stuff
Laurawood Farms
$
Total
$ 4,393,868
Rank
525,123
511,995
486,395
474,235
450,524
427,997
406,597
386,268
366,954
357,780
—
—
—
1
2
3
4
5
6
7
8
9
10
20X0
Percentage
of Total
2.40%
2.34%
2.23%
2.17%
2.06%
1.96%
1.86%
1.77%
1.68%
1.64%
—
—
—
20.11%
Tax
Liability
$
—
218,245
207,333
202,149
192,042
—
175,649
166,867
158,523
—
186,945
177,598
133,246
Rank
Percentage
of Total
1
2
3
4
7
8
9
5
6
10
$ 1,818,597
—
2.49%
2.36%
2.30%
2.19%
—
2.00%
1.90%
1.81%
—
2.13%
2.02%
1.52%
20.72%
Source: County Board of Equalization and Assessment.
Some governments may not be able to obtain information about the individual payers or remitters of sales tax
revenues. An alternative presentation is illustrated in Exhibit C-6.
35
Property Tax Levies
•
•
•
•
Only if property taxes are in revenue
capacity schedules
Levy
Collected
Percentage
36
Exhibit A-11
Schedule 10
City of Statistical
Property Tax Levies and Collections,
Last Ten Fiscal Years
Fiscal
Year
Ended
June 30,
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
Collected within the
Fiscal Year of the Levy
Percentage
Amount
of Levy
Taxes Levied
for the
Fiscal Year
$
21,012,190
19,520,892
17,616,968
17,225,167
17,473,003
17,746,808
18,462,001
20,242,938
22,326,307
26,083,673
$
18,343,800
17,595,149
15,456,835
15,124,061
15,486,912
15,501,805
16,346,494
18,359,297
20,581,542
24,158,911
87.30%
90.13
87.74
87.80
88.63
87.35
88.54
90.69
92.19
92.62
Collections
in Subsequent
Years
$
2,508,286
1,771,684
1,944,119
1,933,017
1,787,482
1,908,253
1,586,631
1,255,761
872,383
—
Total Collections to Date
Percentage
Amount
of Levy
$
20,852,086
19,366,833
17,400,955
17,057,079
17,274,394
17,410,058
17,933,125
19,615,058
21,453,925
24,158,911
99.24%
99.21
98.77
99.02
98.86
98.10
97.14
96.90
96.09
92.62
Sources: Owen County Board of Equalization and Assessment and Owen County Department of Finance.
The Statement requires that the information in this schedule be shown for each "period for which levied" as defined in Statement
33, and should be consistent with the periods shown in the schedule of taxable assessed value of property and schedule of direct
and overlapping property tax rates. In the case of this illustrative government, the period for which levied coincides with the fiscal
year.
DEBT CAPACITY INFORMATION
•
•
•
•
Ratios of Outstanding Debt(10years)
Ratios of General Bonded Debt(10years)
Direct and Overlapping Debt(current year)
Debt Limitations(calculation for most recent
year, 10 years for results)
• Pledged Revenue Coverage(10years)
38
Ratios of Outstanding Debt
•
•
•
•
•
Governmental
Business-type
By type of debt
Divided by personal income
Divided by population
39
Exhibit A-15
Schedule 14
City of Statistical
Ratios of Outstanding Debt by Type,
Last Ten Fiscal Years
(dollars in thousands, except per capita)
Fiscal
Year
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
a
Governmental activities debt and businesstype activities debt are required to be
shown separately.
General
Obligation
Bonds
Governmental Activities
Sales
Tax
Certificates
Redevelopment
Increment
of
Bonds
Bonds
Participation
$
$
10,990
10,510
9,995
9,455
9,630
8,925
8,290
7,625
6,925
6,190
—
—
47,050
46,610
55,455
54,903
54,251
53,335
52,380
51,375
$
6,176
5,947
5,700
5,437
5,157
4,859
4,545
4,213
3,865
3,499
$
20,921
20,357
19,765
19,145
18,497
17,821
17,117
16,385
15,625
22,810
Business-type Activities
Special
Assessment
Bonds
$
34,495
33,095
31,565
29,875
27,995
25,895
23,545
20,915
17,975
14,695
Water
Revenue
Bonds
$
—
—
—
—
—
—
36,690
36,490
36,245
35,585
Term
Loan
$
—
—
—
—
—
—
—
22,244
21,989
21,097
Certificates
of
Participation
$
—
—
—
—
—
7,010
6,880
6,615
6,180
5,940
Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements.
The city issued over $7 million of new certificates of participation in 20X9.
a
b
See Schedule 19 for personal income and population data. These ratios are calculated using personal income and population for the prior
calendar year.
Capital
Leases
$ 1,023
1,009
985
951
909
860
804
743
849
801
Total
Primary
Government
$
73,605
70,918
115,060
111,473
117,643
120,273
152,122
168,565
162,033
161,992
Percentage
of Personal
Income b
3.10 %
2.86
4.41
4.23
4.18
4.21
4.93
4.91
4.31
4.12
Per
Capita b
$
834
766
1,218
1,136
1,183
1,170
1,364
1,437
1,317
1,234
If a government does not present
personal income or population data in its
demographic and economic schedules,
it should present the figures in a
separate column(s) in this schedule.
40
Schedule 14
City of Statistical
Ratios of Outstanding Debt by Type,
Last Ten Fiscal Years
(dollars in thousands, except per capita)
The Statement requires separate ratios of general bonded debt (or net general
bonded debt) outstanding and total debt outstanding. If practical, governments may
wish to combine them into a single schedule. This illustration demonstrates how
this might be done with Exhibits A-15 and A-16.
Exhibit A-25
General Bonded Debt
Fiscal
Year
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
Fiscal
Year
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
General
Obligation
Bonds
Redevelopment
Bonds
$
$
10,990
10,510
9,995
9,455
9,630
8,925
8,290
7,625
6,925
6,190
—
—
—
—
—
—
36,690
36,490
36,245
35,585
—
—
47,050
46,610
55,455
54,903
54,251
53,335
52,380
51,375
0.21%
0.19
1.08
1.04
1.20
1.12
1.00
0.89
0.76
0.66
$
—
—
—
—
—
—
—
22,244
21,989
21,097
$
—
—
—
—
—
7,010
6,880
6,615
6,180
5,940
Other Governmental Activities Debt
Sales Tax
Certificates
Special
Increment
of
Assessment
Participation c
Bonds
Bonds
Per
Capita b
$
Business-type Activities
Certificates
Term
of
Loan
Participation
Water
Revenue
Bonds
$
Percentage
of Actual
Taxable Value
of Property a
124.52
113.52
603.75
571.50
654.27
620.93
560.87
519.73
482.20
438.60
Capital
Leases
$
1,023
1,009
985
951
909
860
804
743
849
801
$
6,176
5,947
5,700
5,437
5,157
4,859
4,545
4,213
3,865
3,499
Total
Primary
Government d
$
73,605
70,918
115,060
111,473
117,643
120,273
152,122
168,565
162,033
161,992
Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements.
See Schedule 7 for taxable property value data.
b
Population and personal income data can be found in Schedule 19.
c
The city issued over $7 million of new certificates of participation in 20X9.
d
Includes general bonded debt, other governmental activities debt, and business-type activities debt.
$
20,921
20,357
19,765
19,145
18,497
17,821
17,117
16,385
15,625
22,810
$
Percentage
of Personal
Income b
3.10%
2.86
4.41
4.23
4.18
4.21
4.93
4.91
4.31
4.12
34,495
33,095
31,565
29,875
27,995
25,895
23,545
20,915
17,975
14,695
Per
Capita b
$
833.96
765.99
1,217.76
1,136.30
1,182.60
1,170.04
1,364.24
1,437.14
1,317.46
1,234.26
a
41
Ratios of General Bonded Debt
•
•
•
•
•
•
Governmental debt (plus GO bonds in
enterprise funds)
By type of debt
Legally restricted resources
Net general bonded debt
Debt per property value
Debt per capita
42
Exhibit A-26
City of Cyclical
Ratios of General Bonded Debt Outstanding and Legal Debt Margin,
Last Ten Fiscal Years
(dollars in thousands, except per capita)
20X0
General bonded
debt outstanding
General obligation bonds
Economic development bonds
$
Total
22,551
12,564
20X1
$
35,115
Percentage of estimated actual
property value a
20X2
$
35,992
2.61%
Per capita b
23,679
12,313
24,862
12,066
$
26,106
11,825
$
37,931
2.56%
317.10
Fiscal Year
20X4
20X5
20X3
36,928
2.58%
312.69
Note that this is not the same illustrative government portrayed in
Exhibits A-1 through A-25.
$
39,000
2.54%
321.96
27,411
11,589
28,781
11,357
$
40,138
2.53%
327.27
20X6
$
41,350
2.51%
333.04
30,220
11,130
20X7
$
42,639
2.50%
339.29
31,732
10,907
20X8
$
44,007
2.49%
346.03
33,318
10,689
20X9
34,984
10,475
45,459
2.48%
2.48%
353.26
361.01
369.29
The debt applicable to the limit may be offset only by amounts that the applicable law expressly allows.
Less: Amounts set aside to
repay general debt
(2,108)
(2,251)
(2,598)
(2,656)
(3,384)
(3,186)
(1,375)
(3,919)
(6,837)
(2,235)
Total net debt applicable to
debt limit
33,007
33,741
34,330
35,275
35,616
36,952
39,975
38,720
37,170
43,224
100,926
104,458
108,114
111,898
115,815
119,868
124,064
128,406
132,900
137,552
Legal debt limit c
Legal debt margin d
Legal debt margin as a
percentage of the debt limit
$
67,919
67.30%
$
70,718
67.70%
$
73,784
68.25%
$
76,624
68.48%
$
80,199
69.25%
$
82,916
69.17%
$
84,088
$
67.78%
89,686
69.85%
95,730
72.03%
$
94,327
68.58%
A government may present either (1) the net debt applicable to the debt
limit as a percentage of the debt limit or (2) the legal debt margin as a
percentage of the debt limit. The former is illustrated in Exhibit A-18.
Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements.
Property value data can be found in Schedule N: Taxable Assessed and Estimated Full Value of Property.
b
Population data can be found in Schedule R: Economic and Demographic Indicators.
c
State finance statutes limit the city's outstanding general debt to no more than 7.5 percent of the assessed value of property.
a
$
d
The legal debt margin is the city's available borrowing authority under state finance statutes and is calculated by subtracting the net debt applicable to the legal
debt limit from the legal debt limit.
This illustration demonstrates how the schedules of general bonded debt (or net general bonded debt)
outstanding and legal debt margin may be combined. These schedules can be combined only in
circumstances where the legal debt limit is applicable to the total (net) general bonded debt outstanding.
Exhibit A-16
Schedule 15
City of Statistical
Ratios of General Bonded Debt Outstanding,
Last Ten Fiscal Years
(dollars in thousands, except per capita)
The Statement requires three schedules of outstanding debt—outstanding debt by type,
general bonded debt, and direct and overlapping debt. Governments may combine the
first two schedules, but still should calculate separate ratios for general bonded debt and
total debt. A combined format is shown in Exhibit A-25.
General Bonded Debt Outstanding
Fiscal
Year
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
General
Obligation
Bonds
$
10,990
10,510
9,995
9,455
9,630
8,925
8,290
7,625
6,925
6,190
Percentage of
Actual Taxable
Valuea of
Redevelopment
Bonds
$
—
—
47,050
46,610
55,455
54,903
54,251
53,335
52,380
51,375
Total
$
10,990
10,510
57,045
56,065
65,085
63,828
62,541
60,960
59,305
57,565
Per
Capita b
Property
0.08%
0.08
0.43
0.42
0.48
0.45
0.40
0.36
0.30
0.26
$
124.52
113.52
603.75
571.50
654.27
620.93
560.87
519.73
482.20
438.60
Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements.
See Schedule 5 (Exhibit C-1) for property value data.
b
Population data can be found in Schedule 14 (Exhibit E-1).
The basic requirement of the Statement is to
compare total general bonded debt to
estimated actual value of property and
population. However, governments are
allowed to use more relevant alternatives. For
instance, if a government's general bonded
debt is backed primarily by sales tax
revenues, it may wish to divide debt by total
taxable retail sales.
If a government has resources that are restricted to
repaying the principal of debt outstanding, these amounts
should be shown in a separate column here and be
subtracted from the total, and the schedule should be
renamed ratios of net general bonded debt outstanding.
a
A government may combine this schedule with the legal debt margin schedule (Exhibit A-18) if the total general
bonded debt outstanding figure in this schedule is the same as that to which the government's debt limit is applied.
See Exhibit A-26 for an example.
44
Direct and Overlapping Debt
•
•
•
•
Governmental (nonenterprise) debt only
Total direct debt (the Entity’s debt)
Overlapping debt (other entity)
Total
45
Schedule 16
City of Statistical
Direct and Overlapping Governmental Activities Debt
As of June 30, 20X9
(dollars in thousands)
The arrangement of this illustration, which emphasizes the difference in the
bases used to estimate the applicable percentages, is not required.
Governments may arrange the entities in a format that best suits their
individual circumstances and the needs of the users of their financial report.
Debt
Outstanding
Governmental Unit
Exhibit A-17
Estimated
Share of
Direct and
Overlapping
Debt
Estimated
Percentage
Applicable a
Debt repaid with property taxes
Anfield School District
Anfield School District Facilities District #1
Anfield School District Facilities District #2
Anfield School District Facilities District #3
Owen County General Obligation Debt
$
Other debt
Owen County Capital Leases
Owen County Economic Development Bonds
Owen County Loan: State Environmental Revolving Fund
Owen County—other debt
55,655
5,247
3,253
2,286
627,809
75.313%
100.000%
86.622%
90.114%
10.386%
11,546
95,688
31,648
14,675
10.386%
8.154%
10.386%
10.386%
$
1,199
7,802
3,287
1,524
Subtotal, overlapping debt
131,056
City direct debt
Total direct and overlapping debt
41,915
5,247
2,818
2,060
65,204
98,569
Governments should report all governmental activities
debt in this schedule. Governments are not required to
include the debt of state-level governmental entities.
$
229,625
Sources: Assessed value data used to estimate applicable percentages provided by the Owen County Board of Equalization and Assessment.
Debt outstanding data provided by each governmental unit.
Notes: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the city. This schedule estimates
the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Statistical. This process
recognizes that, when considering the city's ability to issue and repay long-term debt, the entire debt burden borne by the residents and
businesses should be taken into account. However, this does not imply that every taxpayer is a resident—and therefore responsible for
repaying the debt—of each overlapping government.
a
For debt repaid with property taxes, the percentage of overlapping debt applicable is estimated using taxable assessed property values.
Applicable percentages were estimated by determining the portion of another governmental unit's taxable assessed value that is within the city's
boundaries and dividing it by each unit's total taxable assessed value. This approach was also used for Owen County's capital lease, loan, and
other debt. The applicable percentage of Owen County Economic Development Bonds, which are backed by county sales taxes, was estimated
by dividing the city's retail sales by the county's retail sales.
46
Legal Debt Margin
•
•
•
•
Identify the base (assessed valuation, etc.).
Debt limit (and explain how it is calculated
– what percentage, etc.).
Debt applicable to limit (net of any
applicable reserves).
Difference (“legal debt margin”).
47
Exhibit A-18
Schedule 17
City of Statistical
Legal Debt Margin Information,
Last Ten Fiscal Years
(dollars in thousands)
Governments are encouraged, but not required, to retroactively report prior years at
the time of implementation. Some governments may be able to combine this schedule
with the schedule of general bonded debt; see Exhibit A-26 for an example.
Legal Debt Margin Calculation for Fiscal Year 20X9
Assessed value
$ 8,749,439
Debt limit (15% of assessed value)
1,312,416
Debt applicable to limit:
General obligation bonds
6,190
Less: Amount set aside for
repayment of general
obligation debt
(1,862)
The debt applicable to the limit may be offset only by amounts that the applicable law expressly allows.
Total net debt applicable to limit
Legal debt margin
20X0
Debt limit
$
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit
$
Fiscal Year
20X5
20X1
20X2
20X3
20X4
778,056
$ 809,183
$ 794,616
$ 806,512
$ 813,273
9,234
8,634
7,830
7,241
768,822
$ 800,549
$ 786,786
$ 799,271
1.19%
1.07%
0.99%
0.90%
4,328
$ 1,308,088
20X6
20X7
20X8
20X9
$ 857,151
$ 935,519
$ 1,027,994
$ 1,173,729
$ 1,312,416
6,810
6,270
7,144
4,360
1,227
4,328
$ 806,463
$ 850,881
$ 928,375
$ 1,023,634
$ 1,172,502
$ 1,308,088
0.84%
0.73%
0.76%
0.42%
0.10%
0.33%
Note: Under state finance law, the city's outstanding general obligation debt should not exceed 15 percent of total assessed property value. However, the city has
established a more conservative internal limit of no more than 5 percent. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for
repaying general obligation bonds.
A government may present either (1) the legal debt margin as a percentage of the
debt limit or (2) the net debt applicable to the debt limit as a percentage of the debt
limit. The former is illustrated in Exhibit A-26.
48
Pledged Revenue Coverage
•
•
•
•
•
Debt secured by pledge of specific
revenue
By issue or type of debt
Gross or net revenues
Principal and interest
Coverage ratio
49
Exhibit A-19
Schedule 18
City of Statistical
Pledged-Revenue Coverage,
Last Ten Fiscal Years
(dollars in thousands)
Fiscal
Year
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
20X9
Utility
Service
Charges
$
—
—
—
—
—
—
30,521
31,124
31,685
30,903
Less:
Operating
Expenses
$
—
—
—
—
—
—
13,734
14,006
14,258
13,906
The Statement requires that this schedule present all non–general obligation long-term debt backed by pledged revenues.
This should include special assessment debt, which was previously reported in a separate schedule. The coverage
calculations presented in this schedule may differ from those required by specific bond indentures.
Water Revenue Bonds
Net
Available
Debt Service
Revenue
Principal
Interest
$
—
—
—
—
—
—
16,787
17,118
17,427
16,997
$
—
—
—
—
—
—
710
735
765
795
$
—
—
—
—
—
—
1,577
1,550
1,522
1,493
Sales Tax Increment Bonds a
Special Assessment Bonds
Coverage
—
—
—
—
—
—
7.34
7.49
7.62
7.43
Special
Assessment
Collections
$
9,172
9,088
7,757
7,829
7,996
7,531
8,444
8,568
8,688
8,625
Debt Service
Principal
Interest
$
1,300
1,400
1,530
1,690
1,880
2,100
2,350
2,630
2,940
3,280
$ 6,963
6,862
6,722
6,595
6,363
6,131
5,888
5,648
5,334
4,971
Coverage
1.11
1.10
0.94
0.95
0.97
0.92
1.03
1.04
1.05
1.05
Sales
Tax
Increment
Debt Service
Principal
Interest
$
$
944
938
959
1,178
1,188
1,263
1,332
1,731
1,874
2,216
212
229
247
263
280
298
314
332
348
366
$
310
300
288
276
264
250
236
220
204
187
Coverage
1.81
1.77
1.79
2.19
2.18
2.30
2.42
3.14
3.39
4.00
Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements. Operating expenses do not include interest, depreciation, or amortization expenses.
a
Sales tax increment bonds are backed by the sales tax revenue produced by the sales tax rate in effect when the bonds were issued (2.5 percent) applied to the increase in retail
sales in the Commons shopping area since that time.
If the nature of the revenue pledged to repay each type of debt is not sufficiently clear from the column headings,
governments should provide an explanation on the face of the schedule.
50
DEMOGRAPHIC AND
ECONOMIC DATA
•
•
•
•
•
Population (10 years)
Total Personal Income (10 years)
Per Capita Personal Income (10 years)
Unemployment Rate (10 years)
Principal Employers (current period and
period 9 years earlier)
51
Demographic and Economic
•
•
•
•
Population.
Total personal income.
Per capita personal income.
Unemployment rate.
52
Exhibit A-20
Schedule 19
City of Statistical
Demographic and Economic Statistics,
Last Ten Calendar Years
Calendar
Year
20W9
20X0
20X1
20X2
20X3
20X4
20X5
20X6
20X7
20X8
Personal
Income
(thousands
of dollars)
Population
88,260
92,584
94,485
98,102
99,478
102,794
111,507
117,292
122,989
131,246
Governments should present the personal income and population data
either in the ratios of the outstanding debt schedule (Exhibit A-15) or here
with the other demographic and economic indicators. In the latter instance,
the debt outstanding schedule should reference the demographic and
economic schedule.
$
2,373,285
2,477,522
2,607,966
2,633,412
2,816,038
2,857,718
3,088,421
3,433,399
3,762,912
3,936,501
Per
Capita
Personal
Income
$
26,890
26,760
27,602
26,844
28,308
27,800
27,697
29,272
30,596
29,993
Median
Age
Education
Level in Years
of Schooling
School
Enrollment
Unemployment
Rate
31.0
31.3
31.6
31.9
32.2
32.6
32.8
32.9
33.0
33.1
14.1
14.3
14.4
14.5
14.7
14.8
14.9
15.0
15.1
15.2
21,647
22,015
22,544
23,020
23,548
24,687
27,084
29,624
31,854
34,215
6.7%
7.7%
6.9%
6.0%
6.0%
5.4%
4.9%
3.2%
2.6%
4.4%
Sources: Population, median age, and education level information provided by the State Department of Planning. Personal
income and unemployment data provided by the State Department of Commerce and Labor. School enrollment data provided
by the Anfield Independent School District.
Note: Population, median age, and education level information are based on surveys conducted during the last quarter of the
calendar year. Personal income information is a total for the year. Unemployment rate information is an adjusted yearly
average. School enrollment is based on the census at the start of the school year.
The Statement requires that general purpose governments present, at a minimum, population, total and per capita personal income, and
unemployment rate. Governments may add other demographic and economic statistics that are useful and relevant to the user of their
financial reports, either in this or in additional schedules. Three other statistics in this illustration—median age, education level, and
school enrollment—are among those most commonly presented by governments.
53
Principal Employers
•
•
•
Ten largest (or 50%)
Total for that employer
Percentage of total employment
54
Exhibit A-21
Schedule 20
City of Statistical
Principal Employers,
Current Year and Nine Years Ago
20X9
Employer
Employees
Reanimator Laboratories
Pine Scent Car Fresheners
City of Statistical
Kenwood Health Plan, Inc.
Really Big Chain Store
Vandelay Industries
Puffin-Oak Partners LLP
Deanwood Properties
Bronson, Brunson & Branson
Megagoogleplex Cinemas
Willow Container Corp.
Puffin LLP
Inward Outreach
Oak Energy Partners Ltd.
2,100
960
810
650
595
410
332
180
120
115
—
—
—
—
Total
6,272
Rank
1
2
3
4
5
6
7
8
9
10
20X0
Percentage
of Total City
Employment
Employees
2.63%
1.20%
1.01%
0.81%
0.74%
0.51%
0.42%
0.23%
0.15%
0.14%
—
—
—
—
1,800
850
650
750
—
420
—
200
—
—
450
190
120
90
7.84%
5,520
Rank
1
2
4
3
6
7
5
8
9
10
Percentage
of Total City
Employment
2.57%
1.21%
0.93%
1.07%
—
0.60%
—
0.29%
—
—
0.64%
0.27%
0.17%
0.13%
7.88%
Source: City Economic Development Division.
This schedule should include the ten largest employers, unless fewer are required to
reach 50 percent of total employment.
55
Employees of the Entity
By:
• Department
• Program
• Activity
• Function
56
Schedule 21
City of Statistical
Full-time-Equivalent City Government Employees by Function/Program,
Last Ten Fiscal Years
Exhibit A-22
Full-time-Equivalent Employees as of June 30
20X2
20X3
20X4
20X5
20X6
20X7
20X0
20X1
20X8
20X9
26
33
17
15
6
26
34
17
14
6
27
34
17
15
6
27
36
17
16
6
26
36
17
16
6
26
37
17
15
6
25
38
18
16
6
30
39
18
17
6
31
46
18
17
6
31
44
19
20
8
143
70
145
72
148
73
151
69
158
70
153
72
156
74
166
78
187
84
201
85
Firefighters and officers
Civilians
Refuse collection
Other public works
78
30
17
80
31
18
81
32
17
77
32
18
77
33
18
78
35
18
80
36
18
80
39
18
80
40
20
89
31
22
Engineering b
Other
Redevelopment
Parks and recreation
Library
Water b
Wastewater
Transit
46
12
14
47
21
35
33
7
48
12
15
49
21
37
33
7
51
12
15
48
21
39
33
7
50
13
15
49
21
41
35
7
48
13
16
50
21
41
37
7
49
13
16
49
21
43
39
7
50
13
17
49
21
45
41
7
54
14
17
49
20
52
37
7
56
15
18
49
20
57
37
8
57
14
18
50
19
57
37
8
650
665
676
680
690
694
710
741
789
810
Function/Program
General government
Management services
Finance
Planning
Building
Other
Police
Officers a
Civilians
Fire
Total
Source: City Budget Office.
Notes: A full-time employee is scheduled to work 2,088 hours per year (including vacation and sick leave). Full-timeequivalent employment is calculated by dividing total labor hours by 2,088.
a
b
The police department began the hiring of additional police officers in 20X7 to staff community policing positions.
The city has added additional engineering and water staff in recent years in connection with several infrastructure
improvement initiatives.
57
OPERATING INDICATORS
(10 YEARS)
• Operating Indicators
• Capital Assets
58
Operating Indicators
•
•
Demand
Level of Service
59
Schedule 22
City of Statistical
Operating Indicators by Function/Program,
Last Ten Fiscal Years
Exhibit A-23
20X0
20X1
20X2
20X3
Fiscal Year
20X4
20X5
20X6
20X7
20X8
20X9
Function/Program
General government
Building permits issued
Building inspections conducted
Police
Physical arrests
Parking violations
Traffic violations
Fire
Emergency responses
Fires extinguished
Inspections
Refuse collection a
Refuse collected (tons per day)
Recyclables collected (tons per day)
Other public works
Street resurfacing (miles)
Potholes repaired
Parks and recreation
Athletic field permits issued b
Community center admissions
Library
Volumes in collection
Total volumes borrowed
Water
New connections
Water main breaks
Average daily consumption
(thousands of gallons)
Peak daily consumption
(thousands of gallons)
Wastewater
Average daily sewage treatment
(thousands of gallons)
Transit
Total route miles
Passengers
410
1,014
422
1,044
435
1,076
448
1,108
461
1,141
452
1,118
443
1,096
434
1,074
456
1,128
479
1,184
11,427
27,014
22,099
11,542
27,565
22,550
11,016
28,128
23,010
11,127
28,702
23,479
11,471
29,288
23,958
11,587
29,885
24,447
11,704
30,495
24,946
12,192
31,118
25,455
12,700
29,921
24,476
13,511
28,770
23,535
10,950
1,643
27,375
12,045
1,807
27,923
11,607
1,741
28,481
11,279
1,692
29,051
12,264
1,840
28,470
12,483
1,872
27,900
12,812
1,922
27,342
12,593
1,889
26,522
12,921
1,938
25,726
13,359
2,004
24,954
215.6
27.7
218.8
28.2
222.2
28.8
225.6
29.4
229.0
30.0
203.6
60.0
204.6
62.5
205.6
65.1
206.7
67.8
207.7
70.6
25.7
898
26.0
906
26.2
913
26.5
921
26.8
928
27.1
988
27.3
996
27.6
1,003
27.9
1,011
28.2
1,019
1,386
130,000
1,512
131,950
1,632
133,929
1,825
135,938
1,850
137,977
1,550
140,047
1,776
142,148
1,887
144,280
1,924
146,444
1,991
148,641
145,687
384,614
146,415
386,537
147,148
388,469
147,883
390,412
148,623
392,364
149,366
394,326
150,113
396,297
150,863
398,279
151,617
400,270
152,376
402,272
146
9
142
9
144
4
145
7
147
12
148
10
150
6
151
5
153
10
154
14
3,177
3,241
3,308
3,375
3,444
3,514
3,586
3,659
3,734
3,810
6,991
7,134
7,279
7,428
7,579
7,734
7,892
8,053
8,217
8,385
2,516
2,568
2,620
2,673
2,728
2,784
2,841
2,898
2,958
3,018
96,900
140,347
96,900
138,957
96,900
137,581
96,900
136,219
96,900
134,870
96,900
133,535
96,900
132,213
96,900
129,684
96,900
131,433
96,900
135,900
Sources: Various city departments.
Notes:
a
The Department of Sanitation implemented a recycling initiative in 20X5.
b
The twelve athletic fields in Schoonmaker Park were out of service during most of 20X5 while they were rehabilitated.
60
Capital Assets
•
•
•
Volume
Usage
Nature
61
Schedule 23
City of Statistical
Capital Asset Statistics by Function/Program,
Last Ten Fiscal Years
Exhibit A-24
20X0
20X1
20X2
20X3
Fiscal Year
20X4
20X5
20X6
20X7
20X8
20X9
Function/Program
Police
Stations
Zone offices
Patrol units
Fire stations
Refuse collection
Collection trucks
Other public works
Streets (miles)
Highways (miles) a
Streetlights
Traffic signals
Parks and recreation
Acreage
Playgrounds
Baseball/softball diamonds b
Soccer/football fields b
Community centers
Water
Water mains (miles)
Fire hydrants
Storage capacity (thousands of gallons)
Wastewater
Sanitary sewers (miles)
Storm sewers (miles)
Treatment capacity (thousands of gallons)
Transit—minibuses
2
3
24
6
2
3
24
6
2
3
24
6
2
3
25
6
2
3
26
6
2
3
26
6
2
3
25
6
2
4
28
6
2
5
32
6
2
5
33
6
8
8
8
8
7
7
7
8
8
8
367.5
81.6
7,455
93
371.2
81.6
7,531
94
375.0
81.6
7,607
98
378.8
81.6
7,683
98
382.6
81.6
7,761
98
386.4
107.4
7,839
101
390.4
107.4
7,919
105
394.3
107.4
7,999
105
398.3
107.4
8,079
106
402.3
107.4
8,161
106
309
23
38
25
5
309
23
38
25
5
309
23
38
30
5
309
23
38
35
5
309
23
39
35
5
309
23
30
32
5
309
25
39
35
5
309
25
39
35
5
309
25
39
35
5
309
25
41
35
5
469.5
3,170
5,500
474.3
3,202
5,500
479.1
3,234
5,500
483.9
3,267
5,500
488.8
3,300
5,500
493.7
3,333
5,500
498.7
3,367
5,500
503.8
3,401
5,500
508.9
3,435
5,500
514.0
3,470
5,500
442.5
309.2
3,200
3
447.0
312.3
3,200
3
451.5
315.5
3,200
3
456.1
318.7
3,200
3
460.7
321.9
3,550
3
465.3
325.2
3,550
4
470.0
328.4
3,550
4
474.8
331.8
3,550
4
479.6
335.1
3,550
4
484.4
338.5
4,200
4
Sources: Various city departments.
Notes: No capital asset indicators are available for the general government or library function.
a
The Seabury Memorial Highway opened in 20X5.
b
The twelve athletic fields in Schoonmaker Park were out of service during most of 20X5 while they were rehabilitated.
62