Requirement 6b.
Variance
Actual with Final
Original Final Amounts Budget
Revenues:
Accrued interest on bonds sold 12,500$ 12,500$ 12,500$ –$
Expenditures:
Interest on bonds 25,000 25,000 25,000 –
Excess of Expenditures over Revenues (12,500) (12,500) (12,500) –
Other Financing Sources:
Premium on bonds 20,000 20,000 20,000 –
Interfund transfers in 17,500 17,500 17,500 –
Increase in Fund Balances 25,000 25,000 25,000 –
Fund Balances, January 1 – – – –
Fund Balances, December 31 25,000$ 25,000$ 25,000$ –$
City of Smithville
Street Improvement Bond Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
For the Year Ended December 31, 2020
Budgeted Amounts
Requirement 6c.
Calculation of Legal Debt Margin for Fiscal Year 2020
Total Estimated Actual Valuation 323,913,790$
Legal Debt Margin – December 31 23,938,103$
Note: An additional $6,000,000 has been authorized for issuance
over the next the next two years.
City of Smithville
Legal Debt Margin Information
Requirement 6e.
Debits Credits
Cash $ 311,687
Requirement 6e.
Cash 311,687$
Taxes receivable—delinquent (net of $20,000 in allowance for
uncollectible accounts) 25,000
Interest and penalties receivable (net of $180 in allowance for
uncollectible accounts) 3,420
Investments 317,500
Total Assets 657,607$
Deferred Inflows of Resources 8,124$
City of Smithville
Street Improvement Bond Debt Service Fund
Balance Sheet
As of December 31, 2021
Assets
Liabilities, Deferred Inflows of Resources and Fund Balances
Total Liabilities, Deferred Inflows of Resources and Fund Balances 657,607$
Requirement 6f.
Debits Credits
Cash $ 311,687
Taxes Receivable-Delinquent 45,000
Allowance for Uncollectible Delinquent Taxes $ 20,000
Interest and Penalties Receivable on Taxes 3,600
Allowance for Uncollectible Interest and Penalties 180
Investments 317,500
Requirement 6f.
Revenues:
Taxes 632,560$
Interest and penalties on taxes 2,736
City of Smithville
Street Improvement Bond Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balance
For the Year Ended December 31, 2021
Requirement 6g.
Variance
Actual with Final
Original Final Amounts Budget
Revenues:
Taxes 640,000$ 640,000$ 632,560$ (7,440)$
Interest and penalties on taxes – – 2,736 2,736
City of Smithville
Street Improvement Bond Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
For the Year Ended December 31, 2021
Budgeted Amounts
Requirement 7d.
Debits Credits
Cash $ 297,262
Customer Accounts Receivable 153,821
Allowance for Doubtful Accounts $ 7,100
Due from Other Funds 2,800
Inventories 74,583
Land 600,000
Buildings 1,650,000
Accumulated Depreciation-Buildings 832,500
Equipment 1,735,700
Requirement 7d.
Assets
Current assets:
Cash 297,262$
Customer accounts receivable 153,821$
Less: Allowance for doubtful accounts 7,100 146,721
Due from other funds 2,800
Inventory of supplies 74,583
Total Current Assets 521,366
Accrued payroll and fringe benefits 175,264
Accrued interest payable 3,500
Current portion of revenue anticipation note 100,000
Total Current Liabilities 371,664
Long-term liabilities:
City of Smithville
Solid Waste Disposal Fund
Statement of Net Position
As of December 31, 2020
Requirement 7e.
Debits Credits
Cash $ 297,262
Customer Accounts Receivable 153,821
Allowance for Doubtful Accounts $ 7,100
Revenue Anticipation Notes-Current 100,000
Revenue Anticipation Notes-Long-Term 100,000
Net Position-Net Investment in Capital Assets 2,043,510
Net Position-Unrestricted 212,520
Charges for Services 2,584,662
Requirement 7e.
Operating Revenue
Charges for services (net $960 provision for
doubtful accounts) 2,583,702$
Operating Expenses
City of Smithville
Solid Waste Disposal Fund
Statement of Revenue, Expenses, and Changes in Net Position
For the Year Ended December 31, 2020
Requirement 7f.
Cash flows from operating activities:
Cash received from customers 2,551,541$
Cash paid to employees for services (1,463,379)
Cash paid to vendors for supplies (860,600)
Net cash provided by operating activities 227,562
Cash flows from capital and related financing activities:
Equipment purchase (195,300)
Net cash used in capital and related financing activities: (195,300)
Net increase in cash and cash equivalents 32,262
Cash and cash equivalents, January 1 265,000
Cash and cash equivalents, December 31 297,262$
Reconciliation of Operating Income to Net Cash Provided
by Operating Activities
Operating Income 60,692$
Adjustments:
Depreciation expense 175,290
City of Smithville
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2020
Requirement 8c.
Debits Credits
Taxes Receivable for Other Funds and Governments-Delinquen
$ 1,952,510
Requirement 8c.
Assets
Taxes receivable for other funds and
governments—delinquent (including
related interest and penalties receivable)* 1,952,510$
Total Assets 1,952,510$
Liabilities
Due to other funds and governments 1,952,510$
Total Liabilities 1,952,510$
* Note: Ths amount does not include delinquent and related
penalties reported in the City of Smithville General Fund
and governmental activities.
City of Smithville
Tax Custodial Fund
Statement of Fiduciary Net Position
As of December 31, 2020
Requirement 8d.
Debits Credits
Taxes Receivable for Other Funds and Governments-Delinquen
$ 1,952,510
Due to Other Funds and Governments $ 1,952,510
Additions-Property Tax Collections for Other Governments 13,687,520
Deductions-Administrative Fee 136,874
Deductions-Payments of Property Taxes to Other Governments
13,550,646
Totals for all accounts $ 15,640,030 $ 15,640,030
Requirement 8d.
Additions
Property tax collections for other governments
13,687,520$
Total Additions
13,687,520
Deductions
13,687,520
City of Smithville
Tax Custodial Fund
As of December 31, 2020
Statement of Changes in Fiduciary Net Position
13,550,646
Requirement 9c.
Debits Credits
Cash $ 495,959
Taxes Receivable-Delinquent 377,899
Allowance for Uncollectible Delinquent Taxes $ 32,176
Interest and Penalties Receivable on Taxes 43,269
Allowance for Uncollectible Interest and Penalties 3,772
Due from State Government 150,000
Inventory of Supplies 64,420
Land 4,180,000
Infrastructure 12,412,230
Accumulated Depreciation-Infrastructure 2,812,564
Buildings 6,296,000
Accumulated Depreciation-Buildings 1,919,900
Equipment 3,638,710