Audit for Fiscal Year Ending June 30, 2017

Individual Major Business Type Fund Analysis

The City's business type funds showed a combined cash basis fund balance of $13,373,423 at June 30, 2017 which was $1,757,267 more than last year. A summary of the changes is as follows:

Cash Balances June 30, 2016

Increase (Decrease)

Cash Balances June 30, 2017

Sanitary sewer ........................................................... Solid waste ................................................................ Landfill ....................................................................... Enterprise capital projects ......................................... Nonmajor proprietary funds .......................................

$ 4,536,579 1,596,319 6,925,449 (368,506) 683,582

$ 4,023,230 1,436,261 5,925,406 (529,620) 760,879

$ 513,349 160,058 1,000,043

161,114 (77,297)

$1.757.267

$13.373.423

$11.616,156

Total

Budgetary Highlights

The City amended the budget twice. The first amendment was adopted May 15, 2017. The amendment was to budget for an increase in hotel/motel funds, reimbursements from school and SMU, sale of land, and receipt of special assessments. The budgeted expenditures were amended for the drug lab project, sidewalk projects, reimbursement to DOT, employee insurance payouts, increase in property insurance and workers compensation premiums, and capital projects. The second amendment was adopted June 19, 2017. The amendment was to increase budgeted expenditures for early debt payment, employee payouts upon leaving city employment, and construction work on the remodeling at City Hall.

The City's receipts were $2,037,273 more than budgeted receipts.

The City's total disbursements were $5,159,931 under the budgeted amounts.

Debt Administration

At June 30, 2017, the City had $12,108,429 of debt outstanding, compared to $10,732,000 last year as shown below:

June 30, 2017

June 30, 2016

General obligation bonds and notes ........................................................ Other long-term debt ............................................................................... Revenue bonds and notes .......................................................................

$ 1,612,293 413,000 10,083,136

$ 2,808,000 474,000 7,450,000

$12.108.429

$10.732.000

Total all debt

9