ITEM 1.1 2012 Financial ReportCity of Otsego 2012 Audit
Presented by
Andrew Berg, CPA
2012 Results
uditor's Responsibility
— Opinion — unqualified(clean opinion)
— No audit findings
— No AIN legal compliance finding
Management's Responsibility for the Financial
Statements
-�-llan g nient is responsible for the preparation and fair
presentation of these financial statements in accordance
with accounting principles gmeral 31, accepted in the
United States of nierx a; this includes the design,
implementation, and maintenance of internal control
relevant to the preparation and fair presentation of
financial statements that are fres fronn material
mi stat nient, whether due to fraud or error.
6/1Q/2013
1
General Fund Operations
Finn
General
Fund
Balance
t11olints
Amounts
Finof Budget
J �ii FM
3,560,03 7
S :x,697,348
S 137,1,11
wnditur s
3,560,037
} fey
S 610 479
pp[�i� # /� q t 7 �T,�1 y/y
FOS7�V'+1% SJ 560 03 i S3 i01 520
L.xccss ofrc:vemies over e\peel(Iitltres
-
175,99
$3,576F264
i
Transfers out
5;y
$3,500,000
Net cha u g c it fund 11vilan cc s
60,993
Fit d bo h it cc s, De cet11 r 31
Rwo,000
1:7 1, 1
S 60 r
t
`lWo
44%
46% 43}a
$2,%.. opw
44o
1 . 5.
ly��yy,�y�{�yy�ry�y
$300.000
$-
2003 2009
2010
2011 2012 2013
---0 Actual Frr d Mar= !!ze#
General Fund Operations
Finn
6/10/zo13
3
BlLdgekd
Actual
Valiance with
t11olints
Amounts
Finof Budget
Revenues
3,560,03 7
S :x,697,348
S 137,1,11
wnditur s
3,560,037
31521,355
3 . ?
L.xccss ofrc:vemies over e\peel(Iitltres
-
175,99
17?,993
t h u tmaac in g u
Transfers out
(1 15ow
Net cha u g c it fund 11vilan cc s
60,993
Fit d bo h it cc s, De cet11 r 31
s I
1:7 1, 1
S 60 r
6/10/zo13
3
General uRevenues
$tom �o
S500.000
�.
!0 m!! 2012
General uExpenditures
St40%COO .
S400
.0W
�.
2010 1! 2012
C,,.mr�dpv%mm: a --D- Ec k2@ --A- P&Hc 2oiks Wture2M 2aio=-Cfthl--
6/10/2013
E
Special Revenue Funds
Fund
trot I.�titi
Dewelopment. Lou
Total
Find Balances
c inber3l, l►l m
012 i l I Qet'ea
52,360 39,142 S B 21
(335,498) (693,033) 357,535
150,000
(1.33,353,1.3
Communfty Development and
Building Safety Fund
EXPENDITURES
CU TTG n t
Wafety 230,460 204,926 5e:m
ETC A N'CE lN.\*D DAUI CES (13x210) "'57,W 370,145
FU D DAIANCES, JANUARY i (693.) (493,033) (693,033) `
FUND BA LANCES4 DECEMDER .31 S �,K. 44 1 (70;243) S QBA9-a) , S... 37K,43
6/10/2013
5
dSeted Anvunts
Adaal
%,ar nx V�ilh
d,2inal
FbiA
Amounts
FinalBudget
ensei and petrnks
S 07'2�O
S 207t!50
S $19,602
S 3l x,412
Clarjes for sewk�s
I
2,450
2,430
Special asses inerts
tb,4 }c
10,000
31,131
16111
N1150eft eous
9.21S
9,218
T TAL M I-TtNUEIS
'1 , U
1
2,461
3.45,211
EXPENDITURES
CU TTG n t
Wafety 230,460 204,926 5e:m
ETC A N'CE lN.\*D DAUI CES (13x210) "'57,W 370,145
FU D DAIANCES, JANUARY i (693.) (493,033) (693,033) `
FUND BA LANCES4 DECEMDER .31 S �,K. 44 1 (70;243) S QBA9-a) , S... 37K,43
6/10/2013
5
Debt Service Funds
TOW
Capital
Project
Cas{
Bonds
�.�7INTL'y
*
Cash
Cash
,yxriith
flicalA� "At
*TWA
K$.�.4lk
}'�
�°,tsh dh
Dat**
Welt. -6k' t%V'e3l
(Decrease
w
331,213
5 3',3{004
b)H
j: L d iy N41 W Y.d
* #
-
26 , 3
3 000
21M4
NV- AterfroalEastPadMisSii 1sk'wb
12276
11,77:i_'. 51
t{is,
(5 46)
1-02
yr
/'y,142
, 50
�}#
10-3,, 26455,+*C��P,4�
112C.0
0, 0,4aL .�1# Mg r:"'.e .a ba
1 G eg 0 M U11ic1 aI B U Rd iqg
61,069
5':L%5sq
}
Fie Capital
i
1,216,8Q)
179,63 3
IM et PaveIl ent Nfan:t lui it
y
JaLA 4etlaaid Iii S trMBcdA
(20,658)
_
&)-�434
40{+ 01W
ter
PA. D ev CIO P11wnt
35,21617
3K,1221
(35"505)
Pari: uipinent
10'',945
TOW
Capital
Project
Funds
Fund W1We5
D�cenib ey 3 1.
NoTea e
Fund
2012
2011
(Decrease
}iFT�Y: or
y
colle�tbr Roads
-146,165
'j
413,1li
403
Wates bed M3 tii�ls
23,439
3S#206
12276
1995 Odean W%koct
(5#345)
(5 46)
601
Rewh,'Mg CgpitalIm i- rem -eats
72C,$72
],W42
(430,555)
3 h Too -a Inip PDver eaIs
112C.0
(11875)
1 G eg 0 M U11ic1 aI B U Rd iqg
61,069
5':L%5sq
}
Fie Capital
1,41 ,*5
1,216,8Q)
179,63 3
IM et PaveIl ent Nfan:t lui it
596,235
SW
(20,658)
Trait Patent en t Maua ente a
I S,712
46,696
(30,934)
PA. D ev CIO P11wnt
35,21617
3K,1221
(35"505)
Pari: uipinent
10'',945
V%11M
IS,564
apaa# Equipaint
4 5
x,453
5,1103
Cnul-Lunity Fac11'ai-'s
74S,534
761 r102
117 $}
t veei Re.co asii-oct u
263,426
263,551
m
Total
S 5,449,9-V S,509,7
1 105 , )
6/10/2fl13
101
6/10/2013
7
Water
Fund
s I A00UNA, 0 CIO
ff
s MOM
6/10/2013
7
s/10/zo13
Thank You
Questions
Andrew Berg
a drewhe i• a m a. coin.
952-715-3003