Details for CITY OF GOODVIEW - Ad from 2020-08-01

CITY OF GOODVIEW, MINNESOTA - SUMMARY FINANCIAL REPORT

The purpose of this report is to provide a summary of financial information concerning the City of Goodview
to interested citizens. The complete financial statements may be examined at the City Offices, 4140 5th Street.
Questions about this report should be directed to the City of Goodview at (507) 452-1630.
YEAR ENDED DECEMBER 31, 2019
TOTAL
TOTAL
GENERAL
DEBT
CAPITAL NONMAJOR GOVERNMENTAL
FUND
SERVICE PROJECTS
FUNDS
FUNDS
REVENUE
Taxes
Property
$ 1,194,358 $ 144,102
$ 198,582
$ 50,423
$ 1,587,465
Franchise
211,422
0
0
0
211,422
Licenses and permits
56,411
0
0
0
56,411
Intergovernmental
399,469
0
0
7,114
406,583
Charges for services
9,000
0
0
3,536
12,536
Fines and forfeitures
17,729
0
0
0
17,729
Special assessments
5,322
54,471
10,085
0
69,878
Interest
20,075
15,386
21,937
0
57,398
Donations
45,807
0
0
5,084
50,891
Miscellaneous
55,934
0
0
368
56,302
TOTAL REVENUE
2,015,527
213,959
230,604
66,525
2,526,615
EXPENDITURES
Current
General government
493,337
1,916
3,140
10,440
508,833
Public safety
901,709
0
0
0
901,709
Public works
393,262
0
0
0
393,262
Health and human services
1,551
0
0
0
1,551
Economic development
0
0
0
6,678
6,678
Culture and recreation
24,018
0
0
0
24,018
Capital outlay
75,956
0
470,271
0
546,227
Debt service
Principal
0
165,000
150,000
0
315,000
Interest and fiscal charges
0
31,584
56,634
0
88,218
TOTAL EXPENDITURES
1,889,833
198,500
680,045
17,118
2,785,496
EXCESS (DEFICIENCY) OF
REVENUE OVER (UNDER)
EXPENDITURES
125,694
15,459
-449,441
4,9407
-258,881
OTHER FINANCING SOURCES (USES)
Transfers in
0
136,210
120,790
1,000
258,000
Transfers out
-257,000
0
0
-1,000
-258,000
TOTAL OTHER FINANCING
SOURCES (USES)
-257,000
136,210
120,790
0
0
NET CHANGE IN FUND
BALANCES
FUND BALANCES AT BEGINNING
OF YEAR
FUND BALANCES AT END OF YEAR

-131,306

151,669

-328,651

49,407

-258,881

1,647,742
580,090
1,348,955
128,159
3,704,946
$ 1,516,436 $ 731,759 $ 1,020,304
$ 177,566
$ 3,446,065
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
WATER
SEWER
ASSETS AND DEFERRED OUTFLOWS OF RESOURCES
FUND
FUND
TOTAL
CURRENT ASSETS
Cash and cash equivalents
$ 739,317
$ 250,813
$ 990,130
Investments
125,000
257,000
382,000
Receivables
Accounts
51,589
66,977
118,566
Unbilled
50,446
53,006
103,452
Due from other funds
18
0
18
Prepaid items
4,091
2,781
6,872
TOTAL CURRENT ASSETS
970,461
630,577
1,601,038
NONCURRENT ASSETS
CAPITAL ASSETS
Land
50,534
12,155
62,689
Buildings, plants, and stations
3,465,550
161,603
3,627,153
Storage, distribution, and collection system
6,320,979
7,002,357
13,323,336
Machinery and equipment
1,623,225
250,976
1,874,201
TOTAL CAPITAL ASSETS
11,460,288
7,427,091
18,887,379
Less accumulated depreciation
3,046,705
1,884,132
4,930,837
NET CAPITAL ASSETS
8,413,583
5,542,959
13,956,542
TOTAL ASSETS
9,384,044
6,173,536
15,557,580
DEFERRED OUTFLOWS OF RESOURCES
Deferred pension outflows
10,530
10,533
21,063
TOTAL ASSETS AND DEFERRED
OUTFLOWS OF RESOURCES
$ 9,394,574
$ 6,184,069 $ 15,578,643
LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND NET POSITION
CURRENT LIABILITIES
Accounts payable
$ 14,144
$ 73,307
$ 87,451
Accrued interest
21,384
0
21,384
Due to other governments
477
20
497
Due to other funds
0
106
106
Unearned revenue
6,725
0
6,725
Current portion of long-term debt
223,000
0
223,000
Current portion of compensated absences
14,692
14,692
29,384
TOTAL CURRENT LIABILITIES
280,422
88,125
368,547
NONCURRENT LIABILITIES
Long-term debt
2,010,932
0
2,010,932
Compensated absences
3,009
3,009
6,018
Net pension liability
118,770
118,772
237,542
Other post employment benefits
28,240
28,240
56,480
TOTAL NONCURRENT LIABILITIES
2,160,951
150,021
2,310,972
TOTAL LIABILITIES
2,441,373
238,146
2,679,519
DEFERRED INFLOWS OF RESOURCES
Deferred pension inflows
22,131
22,132
44,263
NET POSITION
Net investment in capital assets
6,179,652
5,542,959
11,722,611
Unrestricted
751,418
380,832
1,132,250
TOTAL NET POSITION
6,931,070
5,923,791
12,854,861
TOTAL LIABILITIES AND DEFERRED INFLOWS OF
RESOURCES AND NET POSITION
$ 9,394,574
$ 6,184,069 $ 15,578,643
STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
WATER
SEWER
FUND
FUND
TOTALS
OPERATING REVENUE
Sales
$ 616,532
$ 746,441 $ 1,362,973
Charges for services
113,048
4,684
117,732
Miscellaneous
15,261
681
15,942
TOTAL OPERATING REVENUE
744,841
751,806
1,496,647
OPERATING EXPENSES
Cost of sales and services
272,584
592,669
865,253
Administration
80,069
47,604
127,673
Depreciation
222,176
131,036
353,212
TOTAL OPERATING EXPENSES
574,829
771,309
1,346,138
OPERATING INCOME (LOSS)
170,012
-19,503
150,509
NONOPERATING REVENUE (EXPENSE)
Investment earnings
4,772
13,699
18,471
Interest expense
-62,325
-62,325
TOTAL NONOPERATING REVENUE (EXPENSE)
-57,553
13,699
-43,854
CHANGE IN NET POSITION
112,459
(5,804)
106,655
NET POSITION AT BEGINNING OF YEAR
6,818,611
5,929,595 12,748,206
NET POSITION AT END OF YEAR
$ 6,931,070
$ 5,923,791 $ 12,854,861
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
WATER
SEWER
FUND
FUND
TOTALS
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers
$ 749,169
$ 765,047 $ 1,514,216
Receipts for (payments from) interfund services
-614
-281
-895
Payments to suppliers for goods and services
-204,496
-494,983
-699,479
Payments to employees for services
-139,808
-139,807
-279,615
NET CASH PROVIDED
BY OPERATING ACTIVITIES
404,251
129,976
534,227
CASH FLOWS FROM CAPITAL AND RELATED FINANCING
ACTIVITIES
Acquisition and construction of capital assets
-15,742
-100,070
-115,812
Principal paid on capital debt
-218,000
0
-218,000
Interest paid on capital debt
-64,412
0
-64,412
NET CASH USED BY CAPITAL
AND RELATED FINANCING ACTIVITIES
-298,154
-100,070
-398,224
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investments
Investment income received
NET PROVIDED BY
INVESTING ACTIVITIES
NET INCREASE IN CASH
AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
RECONCILIATION OF OPERATING INCOME TO NET
CASH PROVIDED BY OPERATING ACTIVITIES
Operating income (loss)
Adjustments to reconcile operating income (loss) to net cash
provided by operating activities
Depreciation
Changes in assets and liabilities (Increase) decrease in
assets/deferred outflows
Accounts receivable
Due from other funds
Prepaid items
Deferred pension outflows
Increase (decrease) in liabilities/deferred inflows
Accounts payable
Due to other governments
Due to other funds
Compensated absences
Other post employment benefits
Net pension liability
Deferred pension inflows
NET CASH PROVIDED
BY OPERATING ACTIVITIES

0
4,772

-13,000
13,699

-13,000
18,471

4,772

699

5,471

110,869
628,448
$ 739,317

30,605
220,208
$ 250,813

141,474
848,656
$ 990,130

170,012

-19,503

150,509

222,176

131,036

353,212

4,328
-18
-584
26,009

13,241
0
-303
26,008

17,569
-18
-887
52,017

3,286
-145
-596
832
3,407
896
-25,352

-5
-1
-281
832
3,407
896
-25,351

3,281
-146
-877
1,664
6,814
1,792
-50,703

$ 404,251

$ 129,976
$ 534,227
08/01 61286-1

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