Introduction ..... 2 Meet the City Council ..... 3 Community Profile ..... 4 Types of Funds ..... 5 Governmental Funds ..... 6 Enterprise Funds ..... 7 Net Position ..... 8 Fund Balances ..... 9 Investments ..... 10 Long Term Debt ..... 11
Here is a quick reference to some terms used in the report:
Assets - Property or equipment that has a monetary value.
Fiscal Year - A one year period that the City used for accounting purposes and preparing financial report. The fiscal year for the City begins on July 1 of every year and ends on June 30. The City issues its annual financial reports at the end of each calendar year.
Fund - A method to account financial transactions that are for a specific purpose.
Liability - A legal monetary obligation.
Other Assets - Cash, investments, and money owed to the City.
Public Entity - A state or local government, as well as any agency, office, or department run by a state or local government.