Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2001
General Purpose Financial Statements
- Form A-1
Combined Balance Sheet - All Fund Types and Account Groups - Form A-2
Combined Statement of Revenues, Expenditures and Changes in Fund Balance - All Governmental Fund Types and Expendable Trust Funds - Form A-3
Combined Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General and Special Revenue Fund Types - Form A-4
Combined Statement of Revenues, Expenses and Changes in Retained Earnings - All Proprietary Fund Types - Form A-5
Combined Statement of Cash Flows - All Proprietary Fund Types
Combining, Individual Fund and Account Group Statements and Schedules as of June 30, 1998
General Fund
The Home Rule Charter of the City of Rochester provides in Chapter XI: "The General Fund is established for the payment of all general government expenses and obligations of the City as the Council may deem proper. Into this fund shall be paid all monies not otherwise provided herein or by statute or by ordinance to be paid into any other fund."
This fund accounts for all unrestricted resources except those required to be accounted for in another fund. Revenues and expenditures are recognized on the modified accrual basis. Revenues are recognized in the accounting period in which they become available and measurable. Expenditures are recognized in the accounting period in which the related liability is incurred.
- Form B-1
Comparative Balance Sheets - Form B-2
Comparative Statements of Revenues, Expenditures and Changes in Fund Balance - Form B-3
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Special Revenue Funds
The Special Revenue Funds are maintained according to Chapter XI of the City Charter. Special Revenue Funds are established to account for taxes and other revenues set aside for a particular purpose. Revenues are recognized in the accounting period in which they become available and measurable. Expenditures are recognized in the accounting period in which the related liability is incurred.
- Form CDEF-1
Combining Balance Sheet - Form CDEF-2
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
The Library Fund was established in 1968 by Council resolution to account for all gifts, donations and contributions, all fees and such other monies collected from the operation of the Library and all taxes levied by the Common Council for Library purposes.
- Form C-1
Library Fund - Comparative Balance Sheets - Form C-2 Library Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
The Municipal Recreation System Fund was created by Council resolution, under the authority of City Charter Chapter XI to account for the activities of the Park and Recreation System.
- Form D-1
Municipal Recreation System Fund - Comparative Balance Sheets - Form D-2
Municipal Recreation System Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
The Law Enforcement Block Grants Fund was established in 1996, as required by the Department of Justice, to account for grant revenues and eligible expenditures.
- Form E-1
Law Enforcement Block Grants Fund - Comparative Balance Sheets - Form E-2
Law Enforcement Block Grants Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
The Airport Operations Fund was established in 1998 by Council resolution to account for the revenues and expenditures of the Rochester International Airport operations.
- Form F-1
Airport Operations Fund - Comparative Balance Sheets - Form F-2
Airport Operations Fund - Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
Debt Service Funds
The Debt Service Funds are maintained according to Chapter XI of the City Charter. Debt Service Funds are maintained on the modified accrual basis of accounting for revenues from taxes and other sources set aside for the payment of the general debt obligations of the City.
Sales Tax Revenue Bonds:
These funds are used to account for the accumulation of resources (sales tax revenue) for payment of sales tax revenue general obligation improvement bonds and interest.
Tax Increment Bonds:
These funds are used to account for the accumulation of resources (tax increment revenue) for payment of tax increment general obligation bonds and interest.
Airport hangar Construction Notes:
These funds are used to account for the accumulation of resources (hangar rental income) for payment of hangar construction notes.
- Form G-1
Combining Balance Sheet - Form G-2
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Capital Project Funds
Chapter XI of the City Charter permits the establishment of one or more Capital Improvement Funds. The Common Council has by resolution established the Permanent Improvement Fund, "into which shall be deposited all taxes levied and such other monies directed by the Common Council including proceeds from the issuance of general improvement bonds for the acquisition, improvement and construction of lands, buildings, bridges and other permanent improvements." Revenues and expenditures are recognized on the modified accrual basis. Revenues are recognized in the accounting period in which they become available and measurable. Expenditures are recognized in the accounting period in which they are incurred.
Airport Development Fund:
This fund accounts for the financial resources to be used for airport development purposes.
Park Recreational and Cultural Development Fund:
This fund accounts for the financial resources to be used for park recreational and cultural development capital improvement purposes.
Mass Transit Projects Fund:
This fund accounts for the financial resources to be used for mass transit capital improvement project purposes.
Community Development Projects Fund:
This fund was established to account for the financial resources received under Title I of the Housing and Community Development Act of 1974, in connection with capital projects.
Tax Increment District Fund:
This fund accounts for the tax increment revenues to be used for development districts project purposes.
Construction Improvement Fund:
This fund accounts for the financial resources to be used for street, sewer and water, and construction other than that financed by proprietary funds.
- Form H-1
Combining Balance Sheet - Form H-2
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Enterprise Funds
The City Charter provides in Chapter XI, that one or more utility or other public service enterprise funds shall be established into which shall be paid all money derived from the sale of bonds issued on account of any municipally owned utility or enterprise and all money derived from the sale of utility or other public enterprise services and from the sale of property acquired for or used in connection with any such utility or enterprise. There shall be paid out of this fund the cost of the purchase, construction, operation, maintenance and repair of such utility or enterprise, including the principal of and interest upon obligations which have or shall be issued on its account. Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises. The intent of the City is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. The accrual basis of accounting is used. Revenues are recognized when they are earned, and expenses are recognized when they are incurred.
Parking Fund:
This fund accounts for the operation of the parking enterprise.
Electric Utility Fund:
This fund accounts for the operations of the City owned electric utility system.
Water Utility Fund:
This fund accounts for the operation of the City owned water utility system.
Sewer Utility Fund:
This fund was established to account for the operations of the City owned water reclamation plant.
- Form I-1
Combining Balance Sheet - Form I-2
Combining Statement of Revenues, Expenses and Changes in Retained Earnings - Form I-3
Combined Statement of Cash Flows
Internal Service Funds
Internal Service Funds are used to account for the financing of goods or services provided for various departments of the City on a cost-reimbursement basis. The accrual basis of accounting is used. Revenues are recognized when they are earned, and expenses are recognized when they are incurred.
Equipment Revolving Fund:
The Equipment Revolving Fund was created by Council resolution for the purchase and replacement of equipment. City departments pay rental charges to the Equipment Revolving Fund for equipment used in providing services.
Information Technology Revolving Fund:
This fund was established in 1998 to provide for the purchase and upgrading of computer equipment and base-system software; and maintenance of current computer hardware. User charges are assessed against City departments using the computer equipment.
Self-Insurance Fund:
This fund was established by Council resolution, under the authority of City Charter Chapter XI, to account for the City's self-insurance program which includes group life and health, workers' compensation and deductible property loss.
- Form J-1
Combining Balance Sheet - Form J-2
Combining Statement of Revenues, Expenses and Changes in Retained Earnings - Form J-3
Combined Statement of Cash Flows
Trust Fund
Trust Funds are used to account for assets held by the City in a trustee capacity for individuals, private organizations or other governments. The City's Trust Fund is classified as an expendable Trust Fund and is accounted for in essentially the same manner as governmental funds.
The F. E. Williams Estate, Trust Fund:
This fund was established to account for the gift of property made by Mr. Frank E. Williams to be used "for the acquiring of or the support of, or the maintenance of a playground or playgrounds, for children under 15 years of age."
- Form K-1
Comparative Balance Sheets - Form K-2
Comparative Statements of Revenues, Expenditures and Changes in Fund Balance
General Fixed Assets Account Group
The General Fixed Assets Account Group is a "self-balancing account group." The General Fixed Assets of the City are those fixed assets used in the performance of general governmental functions and exclude the fixed assets of Utility, other Enterprise Funds, and the Internal Service Funds.
- Form L-1
Comparative Schedule of General Fixed Assets by Source - Form L-2
Schedule of General Fixed Assets by Function and Activity - Form L-3
Schedule of Changes in General Fixed Assets by Function and Activity
General Long-Term Debt Account Group
The General Long-Term Debt Account Group is a "self-balancing account group" established to account for long-term liabilities expected to be financed by governmental fund types.
- Form M-1
Comparative Schedule of General Long-Term Debt
Supplementary Financial Information
The Supplemental Financial Information provides support to certain accounts contained in the individual fund level financial statements. The accompanying schedules are presented for supplementary analysis purposes only.
- Schedule 1
Schedule of Cash and Investments - All Funds - Schedule 2
Schedule of Cash and Security for Deposit - Schedule 3
Schedule of Delinquent Taxes Receivable - All Funds - Schedule 4
Schedule of Changes in Fixed Assets and Depreciation - Equipment Revolving Fund - Schedule 5
Schedule of Bonds Payable - Schedule 6
Schedule of Debt Service Requirements - All Funds - Schedule 7
Schedule of Personnel Expenditures - All Funds
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