City of South Euclid, Ohio Audit Report - 2011

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City of South Euclid, Ohio Audit Report for year ending 2011.

Transcript of City of South Euclid, Ohio Audit Report - 2011

East Bioau Stieet Fifth Flooi Columbus 0hio Phone oi Fax www.ohioauditor.gov Members of Council City of South Euclid 1349 South Green RoadSouth Euclid, Ohio 44121-3985 We have reviewed the Independent Auditors Report of the City of South Euclid, Cuyahoga County, prepared by James G. Zupka, CPA, Inc., for the audit period January 1, 2011 through December 31, 2011. Based upon this review, we have accepted these reports in lieu of the audit required by Section 117.11, Revised Code. The Auditor of State did not audit the accompanying financial statements and, accordingly, we are unable to express, and do not express an opinion on them. Our review was made in reference to the applicable sections of legislative criteria, as reflected by the Ohio Constitution, and the Revised Code, policies, procedures and guidelines of the Auditor of State, regulations and grant requirements. The City of South Euclid is responsible for compliance with these laws and regulations. Dave Yost Auditor of State July 16, 2012

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Thispageintentionallyleftblank.CITY OF SOUTH EUCLID, OHIO COMPREHENSIVEANNUAL FINANCIAL REPORTFOR THE YEAR ENDED DECEMBER 31, 2011ISSUED BY THE DEPARTMENT OF FINANCE Joseph G. Filippo, CPAFINANCE DIRECTOR City of South Euclid, Ohio Comprehensive Annual Financial Report For the Year Ended December 31, 2011 Table of Contents - ii -I. Introductory Section PageTitle Page ................................................................................................................................................. i Table of Contents ................................................................................................................................... ii Transmittal Letter ................................................................................................................................... v Organization Chart .............................................................................................................................. xiii City of South Euclid Elected and Appointed City Officials ................................................................ xiv GFOA Certificate of Achievement ....................................................................................................... xv II. Financial Section Independent Auditors Report ................................................................................................................ 1 Managements Discussion and Analysis ................................................................................................ 3 Basic Financial Statements: Government Wide Financial Statements: Statement of Net Assets .......................................................................................................... 12 Statement of Activities ............................................................................................................ 13 Fund Financial Statements: Balance Sheet - Governmental Funds ..................................................................................... 14 Reconciliation of Total Governmental Fund Balances to Net Assets of Governmental Activities ................................................................................ 15 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds ................................................................................ 16 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ......................................... 17 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (Non-GAAP Basis) and Actual: General Fund ................................................................................................................... 18 Statement of Fiduciary Assets and Liabilities - Agency Fund ................................................ 19 Notes to the Basic Financial Statements ........................................................................................ 20 Combining and Individual Fund Statements and Schedules: Combining Statements - Nonmajor Governmental Funds: Fund Descriptions.................................................................................................................... 52 Combining Balance Sheet - Nonmajor Governmental Funds ................................................. 54 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds ............................................................... 55 City of South Euclid, Ohio Comprehensive Annual Financial Report For the Year Ended December 31, 2011 Table of Contents (continued) - iii - Combining Balance Sheet - Nonmajor Special Revenue Funds ............................................. 56 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Special Revenue Funds ......................................................... 59 Combining Balance Sheet Nonmajor Debt Service Funds ... 62 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Debt Service Funds ... ...63 Combining Balance Sheet - Nonmajor Capital Projects Funds ............................................... 64 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Capital Projects Funds .......................................................... 66 Combining Statement - Agency Fund: Fund Description ..................................................................................................................... 68 Statement of Changes in Assets and Liabilities - Agency Fund .............................................. 69 Individual Fund Schedules of Revenues, Expenditures and Changes in Fund Balance - Budget (Non-GAAP Basis) and Actual: Major Funds: General Fund ........................................................................................................................... 71 Flood Control Fund ................................................................................................................. 76 Land Acquisition Fund ............................................................................................................ 77 Nonmajor Funds: Operation Home Improvement Fund ....................................................................................... 78 COPS Grant Fund .................................................................................................................... 79 Street Construction, Maintenance and Repair Fund ................................................................ 80 State Highway Fund ................................................................................................................ 81 Permissive Motor Vehicle License Fund ................................................................................ 82 Police Range Fund ................................................................................................................... 83 Law Enforcement Fund ........................................................................................................... 84 Street Lighting Fund ................................................................................................................ 85 Sewer Rental Fund .................................................................................................................. 86 Police Pension Fund ................................................................................................................ 87 Fire Pension Fund .................................................................................................................... 88 Parking Lots and Meters Fund ................................................................................................ 89 Swimming Pools Fund ............................................................................................................ 90 General Obligation Bond Retirement Fund ............................................................................. 91 Special Assessment Bond Retirement Fund ............................................................................ 92 General Capital Improvements Fund ....................................................................................... 93 Safety Forces Vehicle Fund .................................................................................................... 94 Water Distribution Infrastructure Fund ................................................................................... 95 Road Improvement Fund ......................................................................................................... 96 Sidewalk Improvement Fund .................................................................................................. 97 Stanhope Parking Lot Fund ..................................................................................................... 98 Issue II Fund ............................................................................................................................ 99 Police Vehicles Fund .......................................................................................................