Requirement 5-c
Revenues
Investment Income 37,500$
Expenditures
Construction 7,530,500
Excess of Revenues Over Expenditures (7,493,000)
Other Financing Sources (Uses)
Proceeds of Bonds 7,500,000$
Interfund transfers out (7,000)
Total Other Financing Sources/Uses 7,493,000
Increase (Decrease) in Fund Balances –
Fund Balances, January 1 –
Fund Balances, December 31 –$
City of Bingham
City Hall Annex Construction Fund
Statement of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2017
Requirement 6-c
Assets
Cash $762,600
City of Bingham
Debt Service Fund
Balance Sheet
As of December 31, 2017
Requirement 6-e
Revenues
Taxes—property 700,000$
Interest and penalties on taxes 1,080
Investment income 7,500
Total Revenues 708,580
Expenditures
Principal 500,000$
Interest 312,500
Total Expenditures 812,500
Excess of Revenues Over Expenditures (103,920)
Other Financing Sources (Uses)
Premium on Bonds 75,000
Interfund transfers in 57,000
Total Other Financing Sources/Uses 132,000
Increase (Decrease) in Fund Balances 28,080
Fund Balances, January 1 989,640
Fund Balances, December 31 1,017,720$
Requirement 6-f
Variance with
Actual Amounts Final Budget
Original Final Budget Basis Over(Under)
Revenues
Taxes—property 700,000$ 700,000$ 700,000$ –$
Interest and penalties on taxes 2,000 2,000 1,080 (920)$
Investment income 9,000 9,000 7,500 (1,500)$
Total Revenues 711,000 711,000 708,580 (2,420)
Expenditures
Principal 500,000$ 500,000$ 500,000$ –
Interest 312,500 312,500 312,500 –
Total Expenditures 812,500 812,500 812,500 –
Excess of Revenues Over Expenditures
and Encumbrances
(101,500) (101,500) (103,920) (2,420)
Other Financing Sources (Uses):
Premium on Bonds 75,000 75,000 75,000 –
Interfund transfers in 50,000 57,000 57,000 –
Total Other Financing Sources/Uses 125,000 132,000 132,000
Increase (Decrease) in Fund Balances 23,500 30,500 28,080 (2,420)
Fund Balances, January 1 989,640 989,640 989,640
Fund Balances, December 31 1,013,140$ 1,020,140$ 1,017,720$ (2,420)$
City of Bingham
Debt Service Fund
Statement of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual
For the Year Ended December 31, 2017
Budgeted Amounts
Requirement 6-g
450,000,000$
City of Bingham
Computation of Legal Debt Margin
As of December 31, 2017
Total Assessed Valuation
Requirement 7-d
Assets
Current assets:
Cash 664,821$
Customer accounts receivable 249,234$
Less: Accumulated Provision for Uncollectible Accounts 5,820 243,414
Utility plant:
Utility plant in service 22,003,179
Less: Accumulated Depreciation-utility plant 5,030,415 16,972,764
Construction work in progress 959,090
Total Assets 19,116,627
Liabilities
Current liabilities:
Vouchers payable 182,562
Accrued interest payable 477,510
Total Current Liabilities 660,072
Liabilities payable from restricted assets:
Customer deposits 65,478
City of Bingham
Statement of Net Position
As of December 31, 2017
Water Utility Fund
Requirement 7-e
Operating Revenue
Sales of water (net of $4,328 provision 3,122,172$
for doubtful accounts)
Operating Expenses
Operation 942,404$
Maintenance 287,400
Non-operating Expenses
City of Bingham
Water Utlity Fund
Statement of Revenue, Expenses, and Changes in Net Position
For the Year Ended December 31, 2017
Requirement 7-f
Cash flows from operating activities:
Cash received from customers 3,014,754$
Cash paid to employees for services (840,650)
Cash paid to vendors for supplies (343,600)
Net cash provided by operating activities 1,830,504
Cash flows from capital and related financing activities:
Construction of utility plant (753,500)
Interest paid on long-term bonds (923,020)
Net cash used in capital and related financing activities: (1,676,520)
Net increase in cash and cash equivalents 153,984
Cash and cash equivalents, January 1 576,315
Cash and cash equivalents, December 31 730,299$
Reconciliation of Operating Income to Net Cash Provided
City of Bingham
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2017
Requirement 8-c
Debt Service Fund Bingham CSD Total
Equity at Creation of Fund 220,000$ 625,100$ 845,100$
Percentage Interest 26% 74% 100%
City of Bingham
Calculation of Equities
Investment Pool
As of December 31, 2018 (before withdrawal)
Requirement 8-d
Debt Service Fund Bingham CSD Total
Equity at Creation of Fund 220,000$ 625,100$ 845,100$
Percentage Interest 26% 74% 100%
City of Bingham
Calculation of Equities
Investment Pool
As of December 31, 2018 (after withdrawal)