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Comprehensive Annual Financial Report - 1999-2000Comprehensive
Annual Financial Report
Fiscal Year Ended
September 30, 2000
Fire Station No. 1
Fire Station No. 2
City of Clermont, Florida
Pictured on the Front Cover is the City of Clermont's new
Fire Station No. 1 on State Road 50 above, and Fire Station
No. 2 on Hartwood Marsh Road near Highway 27 below.
The fire stations are scheduled to open in March, 2001,
CITY OF CLERMONT, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL
REPORT SEPTEMBER 30, 2000
Prepared by:
Finance Department
Joseph E. Van Zile
Finance Director
CITY OF CLERMONT, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDED SEPTEMBER 30, 2000
TABLE OF CONTENTS
INTRODUCTORY SECTION
Letter of Transmittal....................................................................................... A-1
OrganizationalChart .................................................................................... A-13
Listing of City Officials.................................................................................. A-14
Certificate of Achievement........................................................................... A-15
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
Independent Auditor's Report .............................................................. B-1
GENERAL PURPOSE FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types and Account Groups....... B-2
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances — All Governmental Fund
Types and Expendable Trust Fund ................................................ B-6
Combined Statement of Revenues, Expenditures and Changes in
Fund Balances — Budget and Actual — General,
Budgeted Special Revenue and Debt Service Funds .................... B-7
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings/Fund Balances —All Proprietary
Fund Types and Nonexpendable Trust Funds ............................... B-9
Combined Statement of Changes in Plan Net Assets —
Pension Trust Fund...................................................................... B-10
Combined Statement of Cash Flows — All Proprietary Fund
Types and Nonexpendable Trust Funds ...................................... B-11
Notes to Financial Statements........................................................... B-13
TABLE OF CONTENTS
FINANCIAL SECTION CONTINUED
COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS
General Fund:
Comparative Balance Sheet.............................................................. B-40
Statement of Revenues, Expenditures and Changes in
Fund Balance — Budget and Actual .............................................. B-41
Schedule of Revenues — Budget and Actual ..................................... B-42
Schedule of Expenditures — Budget and Actual ................................ B-43
Special Revenue Funds:
Combining Balance Sheet................................................................. B-46
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance............................................................ B-47
Statement of Revenues, Expenditures and Changes in
Fund Balance — Budget and Actual — Infrastructure Fund............ B-48
Statement of Revenues, Expenditures and Changes in
Fund Balance — Budget and Actual — Impact Fee Fund ............... B-49
Sales Tax Revenue Bond Sinking Fund:
Comparative Balance Sheet.............................................................. B-50
Statement of Revenues, Expenditures and Changes in
Fund Balance — Budget and Actual .............................................. B-51
Building Construction Fund:
Comparative Balance Sheet.............................................................. B-52
Schedule of Revenues, Expenditures and Changes in
Fund Balance — Budget and Actual .............................................. B-53
ii
TABLE OF CONTENTS
FINANCIAL SECTION CONTINUED
COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS
CONTINUED
Enterprise Funds:
Combining Balance Sheet................................................................. B-54
Combining Statement of Revenues, Expenses and Changes in
Retained Earnings........................................................................ B-56
Combining Statement of Cash Flows ................................................ B-57
Group Self Insurance Fund:
Comparative Balance Sheet.............................................................. B-59
Comparative Statement of Revenues, Expenses and Changes in
Retained Earnings........................................................................ B-60
Comparative Statement of Cash Flows ............................................. B-61
Trust Funds:
Combining Balance Sheet — Fiduciary Fund Types ........................... B-62
Comparative Balance Sheet — Expendable Trust Fund —
Community Redevelopment Fund ................................................ B-63
Comparative Statement of Revenues, Expenditures and
Changes in Fund Balance — Expendable Trust Fund —
Community Redevelopment Fund ................................................ B-64
Comparative Statement of Plan Net Assets —
Pension Trust Funds.................................................................... B-65
Combining Statement of Changes in Plan Net Assets —
Pension Trust Funds.................................................................... B-66
Comparative Balance Sheet — Nonexpendable Trust Fund —
Cemetery Perpetual Care Fund ................................................... B-67
ni
TABLE OF CONTENTS
FINANCIAL SECTION CONTINUED
COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS
CONTINUED
Comparative Statement of Revenues, Expenses and Changes in
Fund Balance — Nonexpendable Trust Fund —
Cemetery Perpetual Care Fund ................................................... B-68
Statement of Cash Flows — Nonexpendable Trust Fund —
Cemetery Perpetual Care Fund ................................................... B-69
Account Groups:
Schedule of General Fixed Assets by Sources .................................. B-70
Schedule of General Fixed Assets by Function ................................. B-71
Schedule of Changes in General Fixed Assets by Function .............. B-72
Schedule of General Long -Term Debt ............................................... B-73
STATISTICAL SECTION
Comments on the Statistical Section.............................................................. C-1
Expenditures by Function — Last Ten Fiscal Years ........................................ C-2
Revenue by Source — Last Ten Fiscal Years ................................................. C-4
Property Tax Levies, Tax Collections and Assessed
Valuations — Last Ten Fiscal Years........................................................... C-6
Property Tax Rates — Direct and All Overlapping Governments —
LastTen Fiscal Years............................................................................... C-8
Water and Sewer Customer Data — Last Ten Fiscal Years .......................... C-10
iv
TABLE OFCONTENTS
STATISTICAL SECTION CONTINUED
Utility Revenue Bond Coverage — All Utility Revenue Bonds —
Last Ten Fiscal Years............................................................................. C-11
Demographic Statistics — Last Ten Fiscal Years .......................................... C-13
Property Value, Construction and Bank Deposits —
LastTen Fiscal Years............................................................................. C-14
Principal Taxpayers ...............................
LargestEmployers....................................................................................... C-17
Schedule of Insurance Coverage................................................................. C-18
Miscellaneous Statistical Data...................................................................... C-20
OTHER REPORTS
Report on Compliance and on Internal Control over Financial Reporting
Based on an Audit of Financial Statements Performed in Accordance
with Government Auditing Standards........................................................ D-1
Independent Accountant's Report on Compliance with Specified
Requirements........................................................................................... D-2
Management Assertion Report ....................................................................... D-3
Independent Auditor's Report on Schedule of State Financial
Assistance................................................................................................ D-4
Schedule of State Financial Assistance......................................................... D-5
Management Letter........................................................................................ D-6
Response to Management Letter................................................................... D-7
INTRODUCTORY SECTION
This section contains the letter of transmittal,
organizational chart, listing of city officials and certificate of
achievement.
CITY OF CLERMONT
Office of the Finance Director
March 9, 2001
Honorable Mayor and Council Members
City of Clermont
Clermont, Florida
The Comprehensive Annual Financial Report of the City of Clermont, Florida, for the
fiscal year ended September 30, 2000, is hereby submitted. This report was prepared by
the City's Finance Department. Responsibility for both the accuracy of the presented
data and the completeness and fairness of the presentation, including all disclosures, rests
with the City. We believe the data, as presented, is accurate in all material aspects; that is
presented in a manner designed to fairly present the financial position and results of
operations of the City as measured by the financial activity of its various funds, and that
it includes the disclosures necessary to enable the reader to gain the maximum
understanding of the City's financial activities.
THE REPORTING ENTITY AND ITS SERVICES
The City of Clermont, which occupies 11.26 square miles, was incorporated in 1916.
The City is located in south Lake County, approximately twenty-two miles west of the
City of Orlando and twenty-two miles southeast of the City of Leesburg. The City is
conveniently accessible to Orlando via Florida Highway 50. .
The City is essentially residential in character and its economy is primarily centered in
retail trade as well as lodging, food and beverage establishments, which are tourism
oriented.
Lake County, located in Central Florida, is bounded to the north by Marion County, to
the south by Polk County, to the east by Orange County, Seminole County and Volusia
County, and to the west by Sumter County. Tavares, the County Seat, is located
approximately 190 miles southeast of Tallahassee, the State Capitol, and 50 miles
northeast of Orlando.
P.O. BOX 120219 • CLERMONT, FLORIDA 34712-0219
PHONE: 352/394-4081 • FAX: 352/394-1452
The City has a Council -Manager form of government, with a Mayor and four other
Council Members who are elected at large for two year staggered terms. Elections are
held on the first Tuesday after the first Monday in November of each year. The City
employs a full-time manager who is the chief executive and administrative officer of the
City.
The City provides a full range of municipal services as directed by its charter. These
include Police and Fire Protection, Street and Sidewalk Maintenance, Planning and
Development, Code Enforcement, Animal Control, Recreational Facilities and Programs,
Cemetery and General Administrative functions. Clermont also operates and maintains
water, wastewater treatment, sanitation, and stormwater utilities. In addition, the City is
the largest financial supporter of a private library that serves city residents, as well as
residents of the surrounding area.
The funds and entities related to the City of Clermont included in our Comprehensive
Annual Financial Report, are those for which the City Council has financial
accountability. According to criteria outlined in Governmental Accounting Standards
Board (GASB) statements, financial accountability is present if the City Council appoints
a voting majority of a component unit's governing body and has the ability to impose its
will on that organization or if there is a potential for the organization to provide specific
financial benefits to or impose specific financial burdens on the City. Based on these
criteria, the various funds and account groups shown in the table of contents are properly
included in this report.
:ACCOUNTING SYSTEM AND BUDGETARY CONTROL
The City's accounting records for General, Special Revenue, Debt Service, Capital
Projects and certain Trust and Agency Funds are maintained on a modified accrual basis
with revenues being recognized when they become measurable and available, while
expenditures are recorded at the time liabilities are incurred. Accounting records for the
Enterprise, Internal Service and certain Trust and Agency Funds are maintained on a full
accrual basis.
In developing and modifying the City's accounting system, consideration is given to the
adequacy of internal accounting controls. Internal accounting controls are designed to
provide reasonable, but not absolute assurance regarding:
1. The safeguarding of assets against loss from unauthorized use or disposition; and
2. The reliability of financial records for preparing financial statements and maintaining
accountability for assets.
The concept of reasonable assurance recognizes that:
1. The cost of control should not exceed the benefits likely to be derived; and
A-2
2. The evaluation of costs and benefits requires estimates and judgements by
management.
All internal control evaluations occur within the above framework. The City's internal
accounting controls adequately safeguard assets and provide reasonable assurance of
proper recording of financial transactions.
Budgetary integration is established in the accounting records for control purposes at the
object level. The City Manager is authorized to approve transfers within departments,
but changes in total budget appropriations for a department must have prior approval of
the City Council. Budgetary reports are issued and reviewed monthly by staff.
FINANCIAL STATEMENT FORMAT
The report is arranged in the following sections:
Section A: Introduction Section
This section contains the Letter of Transmittal and other such
material as may be useful in understanding the reporting entity.
Section B: Financial Section
This section of the report contains the Independent Auditor's
report and financial statements of the City. The financial
statements include the General Purpose Financial Statements,
which display financial data for the City as a whole and
Combining Statements by Fund Type, which present data for
homogeneous funds.
Section C: Statistical Section
This section presents detailed historical information that will be
beneficial to the reader in understanding the City's growth and its
future potential.
Section D: Other Reports
This section contains other Independent Auditor's reports.
A-3
GENERAL FUND
The General Fund encompasses the general government functions of the City and all
other functions not accounted for in other separate funds.
Unreserved, undesignated fund balance increased 98.4% from $736,358 to $1,460,924.
Fund balance is the amount of resources available for expenditure in future years. The
increase in fund balance is primarily due to actual revenues exceeding anticipated
revenues.
Revenues and other financing sources of the current fiscal year as compared with those of
the previous year are presented as follows:
1999-2000
Amount % of total
1998-1999
Amount % of total
% Inc./Dec.
Over 1998-99
Taxes
$3,312,753
51.8%
$2,623,966
57.3%
26.2 %
Licenses and Permits
188,517
3.0
149,702
3.2
25.9
Intergovernmental
959,751
15.0
838,118
18.3
4.5
Charges for Services
60,148
0.9
44,336
1.0
]35.7
Fines and Forfeitures
174,044
2.7
108,720
2.3
60.1
Miscellaneous Revenues
Transfers In
339.369
1,065,347
5.3
16.6
135,550
283,337
3.0 -
6.2
150.4
276.0
Debt Proceeds
300,000
4.7
397,000
8.7
(24.4)
Total
$6,399,929
10001'0
$4,580,729
100%
39.7%
General Fund revenues increased 39.7% from $4,580,729 to $6,399,929 primarily due to
significant increases in Taxes, Miscellaneous Revenues and Transfers -In categories.
Taxes increased primarily due to an increase in franchise fees, utility service taxes and ad
valorem revenues. Tax revenue increases were primarily the result of growth, as is
documented in Table 8 of the Statistical Section of this report. Ad valorem tax revenues
also increased due to a .50 mil increase in the City's millage rate from 2.979 to 3.479.
The millage increase was necessary in order to provide finding for the staffing of full-
time firefighters. Despite the millage increase, Clermont continues to enjoy being one of
the lowest taxed communities in Central Florida.
Miscellaneous Revenues increased primarily due to contributions from the South Lake
Hospital ($100,000) toward the purchase of a fire truck and a contribution from the South
Lake Foundation ($42,000) toward the construction of Hancock Park.
Transfers -In increased as a result of various capital outlay projects being financed by
other funds.
A-4
Expenditures and other financing uses of the current fiscal year as compared with those
of the previous year are as follows:
1999-2000
Amount % of total
1998-1999
Amount % of total
% IncJDec.
Over 1998-99
General Government
$883,788
15.5%
$1,020,864
22.4%
(13.4)%
Public Safety
2,455,502
42.9
1,733,444
38.0
41.7
Physical Environment
134,486
2.4
137,219
3.0
(2.0)
Transportation
465,752
8.1
419,830
9.2
10.9
Economic Environment
25,586
0.4
7,547
0.2
239.0
Human Services
24,914
0.4
25,794
0.6
(3.4)
Culture & Recreation
1,713,375
30.0
1,214,759
26.5
41.0
Transfers Out
14,961
.3
4,419
.1
238.6
Total
$5,718,364
100%
$4,563,876
100%
25.3%
General Fund expenditures increased 25.3% from $4,563,876 to $5,718,364 primarily
due to significant increases in the Public Safety and Culture & Recreation categories.
Public Safety increased primarily due to the staffing of full-time firefighters ($123,573)
and the purchase of a tower/ladder fire truck and mini -pumper fire truck ($494,654).
Culture & Recreation increased due to the Waterfront Park Improvements ($173,147),
McKinney Park Pavilion ($70,711), and Hancock Park ($506,968) capital outlay projects.
Without these expenditures, total expenditures would have decreased by 5%.
1 SPECIAL REVENUE FUNDS i
INFRASTRUCTURE FUND
The Infrastructure Fund accounts for the City's share of the Local Government
Infrastructure Surtax. The surtax, which represents a countywide one -cent increase in the
States Sales Tax until December 2002, may only be expended on items pertaining to the
construction of fixed capital outlay.
Infrastructure surtax funds were used in the fiscal year 1999-00 for various engineering
and construction related expenditures for sidewalk and street projects and annual debt
service associated with the 1989 Sales Tax Revenue Bond issue.
IMPACT FEE FUND
The Impact Fee Fund accounts for the police, fire and recreation impact fees paid by
developers. The fees were adopted by the City to require new development to pay its
proportionate share of the capital costs necessary to accommodate new development
impacts on police, fire and recreational services.
A-5
Comparative impact fee amounts for the last three fiscal years are as follows:
1999-2000
1998-1999
1997-1998
Police Impact Fees
$201,944
$37,286
$26,808
Fire Impact Fees
$237,720
$46,939
$35,371
Recreation Impact Fees
$556,481
; $156,187
$138,781
Total Impact Fees
$996,145 _ $240,412
$200,960
Total impact fees increased 314% from $240,412 to $996,145 due to an increase in the
City's impact fee rates, effective December 1999, as well as growth, as is documented in
Table 8 of the statistical section of this report. Police and fire impact fees were used to
provide partial funding for the purchase of various equipment items and vehicles. in
addition, police and fire impact fee credits were issued to a developer toward the
construction of Fire Station #2. Recreation impact fees were used to provide partial
funding for the Waterfront Park Improvements, McKinney Park Pavilion, and Hancock
Park construction projects.
BLOCK GRANT FUND
The City received a $600,000 Community Development Block Grant from the U.S.
Department of Housing and Urban Development in fiscal year 1995-96. As of September
30, 2000, there is a mortgage receivable balance of $210,006. This receivable is
amortized over a 5-year period from when the mortgage was signed. The receivable will
be fully amortized by the end of fiscal year 2002-03.
DEBT SERVICE FUND
The Sales Tax Revenue Bond Sinking Fund is maintained to account for the
accumulation of resources and the payment of debt service on the 1989 Sales Tax
Revenue Bond. The bond was issued to provide funding for the development of the
Palatlakaha Recreation Area and construction of the Public Services Complex and Public
Safety Building.
CAPITAL PROJECT FUND
The Building Construction Fund was established in the 1999-2000 fiscal year to account
for the financial resources and related expenditures pertaining to the construction of Fire
Station #1 and anew City Hall.
Capital expenditures pertaining to the Fire Station #1 project consist of land acquisition,
architectural services and construction costs ($593,604). City Hall expenditures consist
of a space needs analysis and architectural design services ($57,710). Financing for the
projects is provided through a $2,000,000 Lire of Credit financing arrangement.
A-6
ENTERPRISE FUNDS
WATER FUND
The Water Fund accounts for the provision of potable water service to City and non -City
residents. Comparative data for the last three fiscal years is as follows:
1999-2000
1998-1999
1997-1998
Operating Revenues
$2,124,341
$1,640,642
$1,362,906
Operating Expenses
$1,367,508
$1,232,089
$1,123,451
Operating Income
$756,833
$408,553
$239,455
Net Working Capital
$1,417,209
$879,491
$833,503
Debt Service Coverage
(Combined Water/Sewer)
2.36%
1.69%
1.59%
Operating revenues and expenses increased 29.5% and 11.0% respectively from 1998-
1999 to 1999-2000, primarily due to servicing the expanding East Water System
customer base. The east water system customer base has increased from 2,278 customers
in September 1999 to 2,980 as of September 2000.
SEWER FUND
The Sewer Fund accounts for the provision of sewer services to City and non -City
residents. Comparative data for the last three fiscal years is as follows:
1999-2000
1998-1999
1997-1998
Operating Revenues
$1,323,239
$1,162,550
$1,094,321
Operating Expenses
$1,337,598
$1,056,058
$939,820
Operating Income (Loss)
($14,359)
$106,492
$154,501
Net Working Capital
$427,105
$541,091
$598,185
Debt Service Coverage
(Combined Water/Sewer)
2.36%
1.69%
1.59%
Operating revenues and expenses increased 13.8% and 26.7% respectively from 1998-
1999 to 1999-2000 primarily due to servicing the expanding East Sewer System customer
base. The east sewer system customer base has increased from 1,193 customers in
September 1999 to 1,483 as of September 2000.
A-7
SANITATION FUND
The Sanitation Fund accounts for the provision of garbage and trash collection, recycling,
and composting services to City residents. Comparative data for the last three fiscal
years is as follows:
1999-2000
1998-1999
1997-1998
Operating Revenues
$889,531
$727,273
$660,841
Operating Ex enses
$961,246
$851,159
$738,998
Operating Income (Loss)
($71,715)
1 ($123 886)
($78,157)
Net Working Capital
$112,775 1
$142,806
$217,648
Operating revenues and expenses increased 22.3% and 12.9% respectively from 1998-
1999 to 1999-2000. After conducting a sanitation service rate study during fiscal year
1999-2000, sanitation rates were raised from $17.90 per month to $20.00 in April 2000
and to $21.50 in October 2000. Increases were necessary to offset rising disposal costs
and major capital equipment replacement.
STORMWATER UTILITY FUND
The Stormwater Utility Fund accounts for the maintenance and improvement of the
City's stormwater drainage system. The stormwater utility fee is charged to all property
owners/tenants throughout the City and is based on the impervious area of their property.
Comparative data for the last three fiscal years is as follows:
1999-2000
1998-1999
1997-1998
_Operatin Revenues
$183,271
$156,864
$151,244
Operating Expenses
$133,057
$130,569
$129,806
Operating Income
$50,214
$26,295
1 $21,438
Net Working Capital
$123,249
$135,721
$103,759
During fiscal year 1999-00, the City used a portion of the utility fees to maintain the
existing stormwater drainage retention system. The remaining funds were held in reserve
for major stormwater drainage projects to be performed in the future.
INTERNAL SERVICE FUND
The City maintains a Group Self -Insurance Fund to account for the accumulation of
resources and the payment of insurance claims pertaining to the employee health and
insurance coverage. The modified Self -Insurance Program is responsible for health and
dental claims up to $40,000 per employee. Reinsurance provides coverage in excess of
the City's limits up to $1,000,000 per employee.
A-8
TRUST FUNDS
Trust Funds account for assets held by the City as Trustee for individuals, private
organizations and other governmental units and/or funds.
The General Employees', Police Officers' and Volunteer Firefighters' Pension Trust
Funds account for the accumulation of resources to be used for the retirement annuities of
all city employees.
The Cemetery Perpetual Care Trust Fund accounts for monies received from people
buying lots in the City cemetery. The principal must be kept intact, but the interest may
be transferred to General Fund to defray the cost of cemetery operation and maintenance.
The Community Redevelopment Fund accounts for funds administered by the Downtown
Clermont Redevelopment Agency. The agency is authorized to use the funds to finance
community redevelopment projects within the downtown area. In fiscal year 1999-00
land was purchased to provide additional parking for the business district.
GENERAL FIXED ASSETS
The general assets of the City of Clermont are those fixed assets used in the performance
of general governmental functions and exclude the fixed assets of the Proprietary Funds.
As of September 30, 2000, the general fixed assets of the City totaled $14,873,151. This
amount represents the original cost of the assets and is, therefore, considerably less than
their present value. Depreciation of general fixed assets is not recognized in the City's
accounting system.
CASH MANAGEMENT
The City maintains an investment policy that is based on the theory of minimizing credit
and market risks, maintaining reasonable liquidity to meet maturing obligations, and
maximizing return through the use of various investment sources.
The City's investment program consists of funds invested in overnight repurchase
agreements, the Florida State Board of Administration Investment Pool, Commercial
Paper and in United States Treasury securities. The overnight repurchase agreements are
in relation to a banking service agreement the City maintains with a local qualified public
depository. The agreement provides that a specific rate of return based on the bank's
federal funds rate and amount of excess funds to be credited to the City's account on a
daily basis.
A-9
The Florida State Board of Administration Investment Pool is managed by the State of
Florida and is available to any governmental agency within the State. The major
advantages the pool offers to small cities such as Clermont are the higher rate of return
from the large amount of funds available to invest and the liquidity of the invested funds.
Access to the invested funds is on a daily basis.
I DEBT ADMINISTRATION !
The City has the following long-term debt issues outstanding on September 30, 2000.
➢ A long-term note issued in 1980 to finance the construction of the Library Building
➢ A Sales Tax Revenue Bond issued in 1989 to provide funding for the development of
the Palatlakaha Recreation Area and construction of the Public Services Complex and
Police Department Building.
➢ A Water and Sewer Revenue Refunding Bond issued in 1993 to refinance two
previously issued Water and Sewer Revenuc Bonds.
➢ A Water and Sewer Revenue Bond Anticipation Note issued in 1996 to refinance a
1995 line of credit financing as well as to provide additional funding for major East
Water and Sewer System improvements.
➢ A Capital Improvement Revenue Note issued in 1998 to provide funding for the
purchase of computer equipment and a fire truck.
➢ A Capital Improvement Revenue Note issued in 1999 to provide funding for the
purchase of a fire truck.
➢ A seller -financed mortgage that was obtained for the purchase of land for the
Downtown Redevelopment District.
➢ A Line of Credit issued in 2000 to provide funding for the construction of Fire Station
#1 and for the design of the new City Hall facility.
I RISK MANAGEMENT 1
The City maintains Commercial Liability and Worker's Compensation insurance through
programs sponsored and administered by the Florida League of Cities. The limit of
protection for the liability coverage is $1,500,000 per occurrence. The City is not aware
of any pending or threatened litigation, which would not be covered by insurance.
-10
FINANCIAL POSITION AND FUTURE PROSPECTS
The overall financial position of the City is good, however, the pressures placed on the
City services by the recent growth of the City requires careful short and long term
planning. The City's tax base is expanding due to recent annexations and subsequent
development is providing additional revenues. Along with this additional development
comes increased demands on all City services.
The revenue stream created by growth is usually several months behind the demand for
services, which places additional pressures on all departments to have the ability to
continue to provide the necessary level of service within budget constraints.
Fortunately, the City currently enjoys one of the area's lowest ad valorem millage rates
and charges for service are within acceptable ranges. This allows for necessary
adjustments in the future to meet the demands for continued and expanded services at
acceptable levels.
We must carefully monitor the economy as it relates to growth so as not to expand too
quickly while continuing to budget adequately for the continuance of services at a level
all of our residents have come to enjoy. A combination of adequate planning,
conservative budgeting, and sound management practices should help maintain the City's
financial stability.
CERTIFICATE OF ACHIEVEMENT
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City
of Clermont, Florida, for its Comprehensive Annual Financial Report for the fiscal year
ended September 30, 1999. The Certificate of Achievement is the highest form of
recognition for excellence in state and local government financial reporting.
In order to be awarded a Certificate of Achievement, a government must publish an
easily readable and efficiently organized Comprehensive Annual Financial Report, whose
contents conform to program standards. Such reports must satisfy both generally
accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. The City of
Clermont has received a Certificate of Achievement for the last twelve consecutive fiscal
years. We believe our current report continues to conform to the Certificate of
Achievement Program requirements, and we are submitting it to GFOA.
A-11
INDEPENDENT AUDIT
Florida Statutes and the City Charter require an annual financial audit of the financial
statements of the City of Clermont by ar. independent certified public accountant selected
by the City Council. This requirement has been satisfied and the Auditor's unqualified
opinion has been included in this report.
ACKNOWLEDGEMENTS
The preparation of .this report on a timely basis could not have been accomplished
without the efficient and dedicated services of the staffs in the City Manager's office,
Planning Department and Finance Department. A special note of appreciation is due Lisa
Strickland, Accountant for her hard work and dedicated efforts in the preparation of this
report. I would also like to thank the Mayor and members of the City Council for their
interest and support in planning and conducting the financial operations of the City in a
responsible and progressive manner.
Respectfully submitted,
G�✓4144,��4---�
Wa Saunders
City Manager
Joseph E. an Zile
Finance Director
A-12
City of Clermont, Florida
Organizational Chart
Citizens
City Attorney Clermont City Council Committees
City Manager
Planning Recreation
Police
Fire
Public Services
Finance
Engineering
CID
Inspections
Transportation
Financial Reporting
Occupational Licenses Programs
Inspections
Traffic Division
Dive Team
Parks
Utility Billing
Permitting
Mapping
Road Patrol
Public Fire
Water Treatment
Accounts Payable
Code Enforcement
Water System
Education
and Distribution
Improvements
Communications
Sewer Collection
Personnel/Payroll
Animal Control
Wastewater System
and Treatment
Improvements
Records
Stormwater
Risk Management
Zoning
Stormwater
Drainage
Management
Sanitation
Budgeting
A-13
Mayor
Mayor Pro-Tem
Council Member
Council Member
Council Member
CITY OF CLERMONT, FLORIDA
LISTING OF CITY OFFICIALS
ELECTED OFFICIALS �
Harold S. Turville, Jr.
Jeff Biddle
Marilyn MacLauchlin
Keith Mullins
Hope Lamb
! APPOINTED OFFICIALS
City Manager
Wayne Saunders
City Attorney
Robert D. Guthrie
Finance Director
Joseph E. Van Zile
Public Services Director
Preston Davis
Chief of Police
Randy Story
Fire Chief
Carle Bishop
City Engineer
Tamara Richardson
Planning Director
Barry Brown
A-14
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Clermont,
Florida
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 1999
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
NG OfFj�� 04t4,1—
Q OFF s
UNITEDSTA y
W AND N
N
y GNAOA resident
CORPORAIUN
Executive Director
A-15
FINANCIAL SECTION
This section contains the following subsections -
INDEPENDENT AUDITOR'S REPORT
GENERAL PURPOSE FINANCIAL STATEMENTS
COMBINING AND INDIVIDUAL FUND AND
ACCOUNT GROUP STATEMENTS
INDEPENDENT AUDITOR'S
REPORT
CLERMONT OFFICE
Herbert John Greenlee, Jr., C.P.A.
Jerry D. Brown, C.P.A.
Suzanne M. Wolfe, C.P.A.
/ GREENLEE
KURRAS
RICE &
BROWN, PA
CERTIFIED PUBLIC
ACCOUNTANTS
INDEPENDENT AUDITOR'S REPORT
The Honorable Mayor and City Council
City of Clermont, Florida
MOUNT DORA OFFICE
John S. Rice, C.P.A.
Patricia A. Sykes -Amos, C.P.A.
C. L. (Chip) Garner, C.P.A.
Dorothy A. Kurras, C.P.A.
John A. Powers, C.P.A.
Keire Rice Hosley, C.P.A.
David S. McDonald, C.P.A.
We have audited the general purpose financial statements of the City of Clermont, Florida, as of and for
the year ended September 30, 2000, as listed in the table of contents. These general purpose financial
statements are the responsibility of the City's management. Our responsibility is to express an opinion
on these general purpose financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America and Government Auditing Standards, issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the general purpose financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose
financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all material
respects, the financial position of the City of Clermont, Florida, at September 30, 2000, and the results
of its operations and its cash flows in its proprietary and nonexpendable trust fund for the year then
ended in conformity with accounting principles generally accepted in the United States of America.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements
taken as a whole. The combining, individual fund and individual account group financial statements and
schedules listed in the accompanying table of contents are presented for purposes of additional analysis
and are not a required part of the general purpose financial statements of the City of Clermont, Florida.
Such information has been subjected to the auditing procedures applied in the audit of the general
purpose financial statements and, in our opinion , is fairly presented in all material respects in relation
to the general purpose financial statements taken as a whole.
In accordance with Government Auditing Standards, we have also issued our report dated February
13, 2001, on our consideration of the City of Clermont, Florida's internal control over financial reporting
and our tests of its compliance with certain provisions of laws, regulations, contracts and grants.
Clermont, Florida
January_30,2001
MEMBER: FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS 8 AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
605 Montrose Street B-1 627 N. Donnelly Street
P.O. Box 120400 • Clermont, FL 34712-0400 P.O. Box 8 • Mount Dora, FL 32756-0008
(352) 394-3256 • Fax (352) 394-6910 (352) 383-6300 • Fax (352) 383-6356
GENERAL PURPOSE
FINANCIAL STATEMENTS
(Combined Statements -Overview)
These basic financial statements provide a summary overview of the
financial position of all funds and account groups as well as the
operating results of all funds. They also serve as an introduction to
the more detailed statements and schedules that follow in the next
subsection.
CITY OF CLERMONT, FLORIDA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
SEPTEMBER 30, 2000
ASSETS AND OTHER DEBITS
Assets:
Cash and equivalents
Investments
Receivables:
Accounts
Interest
Other
Interfund receivables
Due from other governments
Prepaid items
Inventory
Restricted Assets:
Cash and equivalents
Investments
Mortgage receivables
Deferred charges
Developer credits
Land
Buildings
Water system
Sewer system
Improvements other than buildings
Machinery and equipment
Accumulated depreciation
Other Debits:
Amount available for principal in debt service fund
Amount to be provided for retirement
of general long-term debt
TOTAL ASSETS
GOVERNMENTAL FUND TYPES
SPECIAL DEBT
CAPITAL
GENERAL
REVENUE SERVICE
PROJECT
$ 454,130
$ 322,007 $ 83,170
$
1,061,387
855,236
1,275,801
55,957
... ...
2,877
199
26,664
... ...
...
11
... ...
...
156,453
60,545 ...
2,128
... ...
4,000
17,572
... ...
...
... 210,006 ... ...
... 78,892 ... ...
$ 1,774,501 $ 1,526,686 $ 83,170 $ 1,282.678
continued
The notes to the financial statements are an integral part of this statement.
B-2
FIDUCIARY
PROPRIETARY FUND TYPES FUND TYPE ACCOUNT GROUPS
TOTALS
(.MEMORANDUM ONLY
GENERAL
GENERAL
INTERNAL
FIXED
LONG-TERM
ENTERPRISE
SERVICE
TRUST
ASSETS
DEBT
2000
1999
$ 627,512
$
$ 19,657
$
$
$ 1,506,476
$ 954,370
1,405,820
...
6,061,532
...
...
10,659,776
7,560,794
429,609
...
...
...
...
488,443
370,621
4,149
...
...
...
...
4,348
18,982
9,079
...
...
...
...
35,743
27,160
...
...
63,481
...
63,492
50,583
...
...
...
...
...
216,998
88,392
4,333
...
...
...
...
10,461
5,204
33,503
...
...
...
51,075
34,891
1,638,668
...
...
...
...
1,638,668
1,172,229
5,774,744
...
...
...
...
5,774,744
2,809,518
...
...
...
...
210,006
302,983
173,792
...
...
...
...
173,792
214,379
...
...
...
...
...
78,892
1,464,129
...
...
1,535,811
...
2,999,940
2,999,940
...
...
...
3,564,285
...
3,564,285
2,911,970
8,628,853
...
...
...
...
8,628,853
8,562,929
12,810,150
...
...
...
...
12,810,150
12,300,474
541,315
...
...
6,653,653
...
7,194,968
6,206,103
1,677,767
...
...
3,119,402
...
4,797,169
4,040,820
(7,247,537)
...
...
...
...
(7,247,537)
(6,569,236)
...
...
...
...
70,000
70,000
66,667
3,238.540
3.238, 540
1,122.395
$ 27,975.886
$
$ 6,144,670
$ 14,873,151
$ 3,308,540
$ 56,969,282
$ 45,252,168
continued
B-3
CITY OF CLERMONT, FLORIDA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
SEPTEMBER 30, 2000
GOVERNMENTAL FUND TYPES
SPECIAL
DEBT
CAPITAL
LIABILITIES, EQUITY AND OTHER CREDITS
GENERAL
REVENUE
SERVICE
PROJECTS
Liabilities:
Accounts payable
$ 187,271
$ 28,017
$ ...
$
Payroll related accruals
45,591
...
...
...
Contracts payable
194,634
Interest payable
8,509
...
...
...
Payable From Restricted Assets:
Deposits
Accrued interest
...
...
Revenue bonds
...
...
...
...
Interfund payables
45,542
...
...
...
Deferred revenue
26,664
210,006
Revenue bonds payable
...
...
...
Notes payable
Total Liabilities
313,577
238,023
194,634
Equity and Other Credits:
Contributed capital
Investment in general fixed assets
...
...
...
...
Retained Earnings:
Reserved
Unreserved
...
...
...
...
Fund Balances:
Reserved for parking lots
4,638
...
...
...
Reserved for police education
29,217
...
...
...
Reserved for inventory
17,572
...
...
...
Reserved for prepaids
2,128
...
...
...
Reserved for downtown development
...
...
...
Reserved for cemetery care
...
...
Reserved for debt service principal
...
70,000
...
Reserved for debt service interest
...
...
13,170
...
Reserved for employees' retirement systems
...
Unreserved, undesignated
1.407,369
1,288,663
1,088,044
Total Equity and Other Credits
1,460.924
1.288.663
83,170
1.088,044
TOTAL LIABILITIES, EQUITY AND OTHER CREDITS
$ 1,774,501
$ 1,526,686
$ 83.170
$ 1,282,678
continued
The notes to the financial statements are an integral part of this statement.
B-4
PROPRIETARY FUND TYPES
INTERNAL
FIDUCIARY
FUND TYPE ACCOUNT GROUPS
GENERAL GENERAL
FIXED LONG-TERM
TRUST ASSETS DEBT
TOTALS
(MEMORANDUM ONLY1
2000 1999
$ 354,385
$ 37,212
$
$ $ ...
$ 606,885
$ 364,198
61,343
...
...
108,934
158,517
... ...
194,634
56,129
...
...
...
... ...
8,509
5,226
94,751
...
...
... ...
94,751
89,459
180,176
...
...
...
180,176
182,756
190,000
...
... ...
190,000
180,000
17,939
11
...
... ...
63,492
50,583
...
...
...
...
236,670
329,647
10,416,817
...
... 565,000
10,981,817
11.352,597
...
2,743,540
21743,540 _
424.062
11, 315.411
37,223
3,308,540
15, 407.408
13,193.174
11,083,291
...
...
...
11,083,291
7,273,400
...
...
...
14,873,151 ...
14,873,151
12,725,562
4,156, 509
...
...
...
4,156, 509
3,400, 783
1,420,675
(37,223)
...
... ...
1,383,452
1,952,610
...
...
...
... ...
4,638
4,638
...
...
... ...
29,217
29,152
...
...
...
... ...
17,572
8,794
...
...
...
2,128
417
...
...
1,667
...
1,667
17,515
...
...
326,050
... ...
326,050
308,325
...
... ...
70,000
66,667
...
... ...
13,170
17,770
...
...
5,816,953
... ...
5,816,963
5,076,435
...
... ...
3,784, 076
1 176.926
16, 660, 475
37,223:
6,144, 670
14,873,151
41, 561, 874
32,058994
$ 27, 975, 886
$
$ 6.144.670
$ 14, 873,151 $ 3. 308, 540
$ 56 969.282
$ 46,252,168
B-5
CITY OF CLERMONT, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2000
FIDUCIARY
TOTALS
GOVERNMENTAL FUND TYPES
FUND TYPE
(MEMORANDUM ONLY)
EXPENDABLE
SPECIAL
DEBT
CAPITAL
TRUST
GENERAL
REVENUE
SERVICE
PROJECTS
FUND
2000
19%
Revenues:
Taxes
$ 3,312,753
$ 598,313
$
$
$ 28,163
$ 3,939,229
$ 3,183,722
Licenses and permits
188,517
188,517
149,702
Intergovernmental revenues
959,751
959,751
872,081
Charges for services
60,148
...
...
...
...
60,148
44,336
Fines and forfeitures
174,044
174,044
108,720
Miscellaneous revenues
339,369
1,053,375
5,486
8,224
1,578
1,408.032_
399,113
Total Revenues
5,034,582
- 1,651,688
5,486
8,224
29,741
6,729,721
4,757,674
Expenditures:
Current:
General government
883,788
...
...
58,710
942,498
1,059,558
Public safety
2,455,502
...
...
593,604
3,049,106
1,733,444
Physical environment
134,486
...
...
...
...
134,486
137,219
Transportation
465,752
29,201
130,550
625,503
437,386
Economic environment
25,586
...
...
...
20,000
45,586
36,111
Human services
24.914
...
...
...
...
24,914
25,794
Culture and recreation
1,713,375
20,048
...
...
...
1,733,423
1,347,959
Debt Service:
Principal
200,000
200,000
185,000
Interest and fiscal charges
54.060
-
54 060
67,543
Total Expenditures
5.703.403
49,249
254,060
652.314
150.550
6,809,576
5.030.014
Excess (Deficiency) of Revenues
Over Expenditures
(668,821)
1.602.439
I248,574)
(644,090)
(120,809)
(79,855)
(272,340)
Other Financing Sources (Uses):
Operating transfers in
1,065,347
247,307
14,961
1,327,615
535 m
Operating transfers out
(14,961)
(754,344)
(267,866)
(1,037,171)
(384,499)
Debt proceeds
300,000
2,000,000
90.000
2,390,000
397.000
Total Other Financing Sources (Uses)
1,350,386
(754,344)
247.307
1,732,134
104.961
2.680,444
548,337
Excess (Deficiency) of Revenues and Other
Financing Sources Over Expenditures
and Other Financing Uses
681,565
848,095
(1,267)
1,088,044
(15,848)
2,600,589
275,997
Fund Balances - October 1
779,359
440.568
84.437
17.515
1 221,879_
1,045,682
FUND BALANCES -SEPTEMBER30
$ 1,480,924
$ 1,288�683
$ 83.170
$ 1,088,044
$ 1.667
$3,922,468
$ 1,321,879
The notes to the financial statements are an integral part of this statement.
B-6
CITY OF CLERMONT, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL -
GENERAL, BUDGETED SPECIAL REVENUE, AND DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
GENERALFUND
VARIANCE
FAVORABLE
BUDGET
ACTUAL
{UNFAVORABLE)
Revenues:
Taxes
$ 3,019,480
$ 3,312,753
293,273
Licenses and permits
132,000
188,517
56,517
Intergovernmental revenues
997,908
959,751
(38,157)
Charges for services
406,991
428,139
21,148
Fines and forfeitures
163,000
174,044
11,044
Miscellaneous
259,455
339,369
79,914
Total Revenues
4,978,834
5,402,573
423.739
Expenditures:
Current:
General government
1,440,709
1,244,419
196,290
Public safety
2,449,797
2,455,502
(5,705)
Physical environment
148,025
141,846
6,179
Transportation
499,954
465,752
34,202
Economic environment
22,835
25,586
Human services
24,355
24,914
(559)
Culture and recreation
1,763,810
1,713,375
50,435
Debt service
•.•
.••
Total Expenditures
6,349,485
6,071,394
278,091
Excess (Deficiency) of Revenues
Over (Under) Expenditures
;1,370,651 }
+668.821 }
701,830
Other Financing Sources (Uses):
Operating transfers in
984,125
1,065,347
81,222
Operating transfers out
(15,655)
(14,961)
694
Debt proceeds
617,000
300,000
(317.000)
Total Other Financing Sources (Uses)
1,585,470
1,350,386
235.084)
Excess (Deficiency) of Revenues and Other Financing Sources
Over (Under) Expenditures and Other Financing Uses
214,819
681,565
466,746
Fund Balances - October 1
779,359
779,359
FUND BALANCES - SEPTEMBER 30
$ 994,178
$$ 1�.
$ 466,746
continued
The notes to the financial statements are an integral part of this statement
B-7
SPECIAL REVENUE FUNDS
VARIANCE
FAVORABLE
BUDGET ACTUAL
fUNFAVORABLEi
$ 525,000 $ 598,313
$ 73,313
372,700 1,053,374
680,674
897,700 1,651,687
753,987
240,000
29,201
210,799
...
20,048
(20,048)
62,600
62.600
302,600
49,249
253,351
595,100
1,602,438
1,007,338
(551,047)
(754,344)
(203,297)
(551,04T
1754,344,
i203,297)
44,053
848,094
804,041
440,315
440,315
$ 484,368
$$ 1.28 409409
$ 804,041
DEBT SERVICE FUND
VARIANCE
FAVORABLE
BUDGET ACTUAL i UNFAVORABLE;
$ ... $ ... $
4,000 5,486 1,486
4,000 5,486 1,486
254,060
254,060
254,060
254,060
(250.060)
+248,574;
1,486
250,060
247,307
(2,753)
250,060
247,307
f2,7531
(1,267)
(1,267)
84,437
84,437
$ 84®437
$$ 83,170 $
1,267)
M;
CITY OF CLERMONT, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES
IN RETAINED EARNINGS/FUND BALANCES
ALL PROPRIETARY FUND TYPES AND NONEXPENDABLE TRUST FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
PROPRIETARY FUND TYPES
INTERNAL
Operating Revenues:
Charges for services
$ 4,478,897
Sale - cemetery lots
...
Sale of recycled materials
10,327
Reimbursements
_ 31,158
Total Operating Revenues
4.520.382
Operating Expenses:
Personal services
1,178,436
Utilities
367,586
Dumping fees
299,285
Administrative services
368,031
Repair and maintenance
220,754
Depreciation
678,301
Professional services
318,900
Insurance
56,830
Operating supplies
252,660
Office expense
53,076
Bad debt
5,550
Trustes/administrative fees
...
Medical claims
Total Operating Expenses
3,799,409
Operating Income (Loss)
720,973
Nonoperating Revenues (Expenses):
Interest revenue
396,802
Interest expense
(587,297)
Grants
3,447
Change in fair value
24,242
Total Nonoperating Revenues (Expenses)
{162,8081
Income (Loss) Before Operating Transfers
558,167
Operating transfers (out)
(290,4441
Net Income (Loss)
267,723
Retained Eamings/Fund Balances - October 1
5.309.461
RETAINED EARNINGS/FUND BALANCES - SEPTEMBER 30 $ 5.577,184
The notes to the financial statements are an integral part of this statement
$ 451,120
16.449
467.569
FIDUCIARY
FUND TYPE
NONEXPENDABLE
TRUST
2000
$
$ 4,930,017
17,725
17,725
...
10,327
47,607
17 725
5.005,676
TO
(MEMORANDUMS ONLY)
...
... 1,178,436
...
... 367,586
...
... 299.285
...
... 368,031
...
... 220,754
...
... 678,301
...
... 318,900
59,330
... 116,160
...
... 252,660
...
... 53,076
... 5,550
23,587
... 23,587
467.034
487,034
549.951
4,349,360
(82,382)
17,725 656.316
1,227
... 398,029
...
... (587,297)
...
... 3,447
24,242
1,227
... (161,579)
(81,155) 17,725 494,737
(290,444)
(81,155) 17,725 204,293
43,932 308,325 5,661,718
$ (37,223) $ 326,050 $ 5,866,011
1999
$ 4,040,958
24,625
7,179
50.869
4,123,631
1,061,074
343,481
309,003
226,632
292,312
645,887
187,848
37,971
112,511
44,187
9,102
70,679
386,894
3,727,581
10000U-::NZA
183,443
(611,491)
3,141
4,257
(420,650)
(24,6DO)
(151,337%
(175,937)
5,837.655
$.
B-9
CITY OF CLERMONT, FLORIDA
PENSION TRUST FUND
COMBINED STATEMENT OF CHANGES IN PLAN NET ASSETS
FOR THE YEAR ENDED SEPTEMBER 30, 2000 AND 1999
(Memorandum Only)
2000
1999
Additions
Contributions:
Employer
$ 159,671
$ 134,167
Plan members
10,329
8,041
State
15,998
121,083
Total contributions
185,998
263,291
Investment Income:
Net investment income including
appreciation in fair value
782,002
561,994
Less: Investment expense
22,873
21,887
Net investment income
759,129
540,107
Total additions
945,127
803,398
Deductions
Benefits
204,609
217,119
Total deductions
204,609
217,119
Net increase
740,518
586,279
Net assets held in trust for pension benefits
Beginning of year
5,076,435
4,490,156
End of Year
$ 5,816,953
$ 5,076,435
The notes to the financial statements are an integral part of this statement.
B-10
CITY OF CLERMONT, FLORIDA
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES AND NONEXPENDABLE TRUST FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
Cash Flows From Operating Activities:
Cash received from customers
Cash payments to suppliers
Cash payments for employee services
Cash payments for medical claims
Net Cash Provided (Used) By Operating Activities
Cash Flows From NonCapital Financing Activities:
Operating transfers out
Grants
Net Cash Provided (Used) By NonCapital Financing Activities
Cash Flows From Capital and Related Financing Activities:
Acquisition and construction of capital assets
Principal paid
Interest paid
Contributed capital
Sales of assets
Net Cash Provided (Used) By Capital
and Related Financing Activities
Cash Flows From Investing Activities:
Interest
Investment sales
Investment purchases
Net Cash Provided (Used) By Investing Activities
Net Increase (Decrease) In Cash and Equivalents
Cash At Beginning Of Year
Cash At End Of Year
FIDUCIARY TOTALS
PROPRIETARY FUND TYPES FUND TYPE (MEMORANDUM ONLY)
INTERNAL NONEXPENDABLE
ENTERPRISE SERVICE TRUST 2000 im
$ 4,426,234
$ 467,569 $
17,725 $ 4,911,528 $
4,094,415
(1,771,833)
(82,917)
... (1,854,750)
(1,632,531)
(1,187,648)
...
... (1,187,648)
(1,042,294)
0,1801
(450160.'
{398,8691
1,466.753
(65,508)
17,725 1,418,970
1020,721
(290,444)
...
... (290,444)
(151,337)
6.588
6.588
2.802
(283,856)
_
(283,856) T
(148535)
(825,540)
...
... (825,540)
(773,234)
(180,000)
...
... (180,0DD)
(175,000)
(530,069)
...
(530,D69)
(553,085)
3,809,891
...
... 3,809,891
1,697,806
The notes to the financial statements are an integral part of this statement.
2.274,282
396,239 1,227
5,468 64,281
(3,310,104)
(2.908,397) 65-508
548,782 ...
1,717.398
$2.266,180 $
2.274,282
...
397,466
...
69,749
18.213s
(3,328,317)
;18,213j
12,861.102!
(488)
548,294
18.478
1,735,876
$ 17,990
$ 2,284,170
KIM
226.612
180,353
53,534
(835,735;
r401,848)
696,950
1,038,926
$ 1.735.876
(continued)
B-11
FIDUCIARY TOTALS
PROPRIETARY FUND TYPES FUND TYPE (MEMORANDUM ONLY)
INTERNAL NONEXPENDABLE
ENTERPRISE SERVICE TRUST 2000 1999
Reooncilation of Operating Income to Net Cash Provided
(Used) by Operating Activities:
Operating Income (Loss) $ 720,973 $ (82,382) $ 17,725 $ 6%316 $ 396,050
Ajuslments to Reconcile Operating Income to Net Cash Provided
(Used) by Operating Activities:
Depreciation
678,301
...
... 678,301
645,887
Change in Assets and Liabilities:
Decrease (Increase) in receivables
(99,441)
...
... (99,441)
(32,449)
Decrease (Increase) in prepaids
454
...
... 454
2,316
Decrease (Increase) in inventory
(7,407)
...
... (7,407)
1,809
Increase (decrease) in deposits
5.293
... 5,293
3,233
Increase (Decrease) in accrued expenses
(9,212)
...
... (9,212)
17,644
Increase (Decrease) in payables
177.792
16,874
194.666
L13,7691
Total Adjustments
745.780
16.874
762 654
624,671
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
$ 1,466,753
$ (65,506) $
17,725 $ 1,418.970
$ 1,020,721
B-12
mYi �. I
� ti-
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Summary of Significant Accounting Policies:
The City of Clermont, Florida was incorporated December 1916, under the laws of the State
of Florida and operates under the council-manager form of government under its charter
adopted pursuant to H.B. 2223 ch 67 - 1217, Special Acts 1967, of the State of Florida.
The financial statements of the City of Clermont, Florida have been prepared in conformity
with generally accepted accounting principles as applicable to governments. The following
is a summary of the City's more significant accounting policies:
A. Description of the Reporting Entity - Generally accepted accounting principles
require that these financial statements present the City (the primary government) and
its component units. Component units generally are legally separate entities for
which a primary government is financially accountable. Financial accountability
ordinarily involves meeting both of the following criteria: the primary government
is accountable for the potential component unit (i.e., the primary government
appoints the voting majority of its board) and the primary government is able to
impose its will upon the potential component unit, or there is a possibility that the
potential component unit may provide specific financial benefits or impose specific
financial burdens on the primary government. The component unit discussed in this
note is included in the City's reporting entity because of the significance of its
operational or financial relationship with the City.
Based upon the application of these criteria, the following is a brief review of the
potential component unit addressed in defining the City's reporting entity.
Blended Component Unit:
The City of Clermont Community Redevelopment Trust Fund
The City of Clermont created the Downtown Redevelopment Agency in May of
1997. This is a dependent taxing district established in accordance with Chapter
163, Part III, Florida Statutes. Notification to affected taxing agency was done in
compliance with Chapter 163.346, Part III, Florida Statutes. The incremental annual
increase in tax over the base year will be used to fund projects designed to enhance
and improve the described area. The City Council, being the duly elected
governmental body for the designated area, passed Resolution 97-950, which
established the City of Clermont as the Redevelopment Agency for the purpose of
carrying out the community redevelopment programs and plans within the area.
Through Ordinance 359-M the City established the Community Redevelopment
Trust Fund to account for all transactions generated by this expendable trust fund.
B-13
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
B. Fund Accounting - The accounts of the City are organized on the basis of funds and
account groups, each of which is considered a separate accounting entity. The
operations of each fund are accounted for with a separate set of self -balancing
accounts that comprise its assets, liabilities, fund equity, revenue and expenditures,
or expenses, as appropriate. Government resources are allocated to and accounted
for in individual funds based upon the purposes for which they are to be spent and
the means by which spending activities are controlled. The various funds and
account groups of the City are as follows:
Governmental Funds -
1. General Fund - To account for all financial resources except those required to be
accounted for in another fund.
2. Special Revenue Funds -To account for the proceeds of specific revenue sources
(other than special assessments, expendable trusts or for major capital projects)
that are legally restricted to expenditure for specified purposes.
3. Debt Service Fund - To account for the accumulation of resources for, and the
payment of, general long term debt principal, interest and related cost.
4. Capital Projects - To account for the acquisition and construction of major
capital facilities other than those financed by proprietary funds and trust funds.
Proprietary Funds -
1. Enterprise Funds - To account for operations (a) that are financed and operated
in a manner similar to private business enterprises -- where the intent of the
governing body is that the costs (expenses, including depreciation) of providing
goods or services to the general public on a continuing basis be financed or
recovered primarily through user charges; or (b) where the governing body had
decided that periodic determination of revenues earned, expenses incurred,
and/or net income is appropriate for capital maintenance, public policy,
management control, accountability or other purposes.
2. Internal Service Fund - To account for the financing of goods or services
provided by one department or agency to other departments or agencies of the
City, or to other governments, on a cost -reimbursement basis.
B-14
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Fiduciary Funds -
Trust Funds - To account for assets held by the City in a trustee capacity. Non -
expendable and pension trust funds are accounted for in essentially the same
manner as Proprietary Funds, since capital maintenance is critical. The
expendable trust fund measurement focus is the same as Governmental Funds.
Account Groups -
General Fixed Asset Account Group - is used to maintain control and cost
information for all fixed assets other than those accounted for in the Proprietary
and Nonexpendable Trust Funds.
2. General Long -Term Debt Account Group - is used to record the outstanding
long-term obligations not otherwise recorded in Proprietary, Nonexpendable
Trust and Pension Trust Funds.
C. Basis of Accounting - The accounting and financial reporting treatment applied to
a fund is determined by its measurement focus. All governmental funds and
expendable trust funds are accounted for using a current financial resources
measurement focus. With this measurement focus, only current assets and current
liabilities generally are included on the balance sheet. Operating statements of these
funds present increases (i.e., revenues and other financing sources) and decreases
(i.e., expenditures and other financing uses) in net current assets.
All proprietary funds, nonexpendable trust funds and pension trust funds are
accounted for on a flow of economic resources measurement focus. With this
measurement focus, all assets and all liabilities associated with the operation of these
funds are included on the balance sheet or statement of plan net assets. Fund equity
(i.e., net total assets) is segregated into contributed capital and retained earnings
components. Proprietary fund -type operating statements present increases (e.g.,
revenues) and decreases (e.g., expenses) in net total assets. The City has chosen not
to use FASB pronouncements issued after November 30, 1989, for its proprietary
activities.
The modified accrual basis of accounting is used by all governmental fund types and
expendable trust funds. Under the modified accrual basis of accounting, revenues are
recognized when susceptible to accrual (i. e., when they become both measurable and
available, ) "Measurable" means the amount of the transaction can be determined
and "available" means collectible within the current period or soon enough
thereafter to be used to pay liabilities of the current period. The government
considers property taxes as available if they are collected within 60 days after year
M
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
end. A one-year availability period is used for revenue recognition for all other
governmental fund revenues. Expenditures are recorded when the related fund
liability is incurred. Principal and interest on general long-term debt are recorded
as fund liabilities when due or when amounts have been accumulated in the debt
service fund for payments to be made early in the following year.
All major revenues, except property taxes and licenses, are considered measurable
and available and, as such, susceptible to accrual.
The accrual basis of accounting is utilized by proprietary fund types, pension trust
funds and nonexpendable trust funds. Under this method, revenues are recorded
when earned and expenses are recorded at the time liabilities are incurred.
Encumbrance accounting is not used by the City.
D. Budgets
The City follows these procedures in establishing the budgetary data reflected in the
financial statements:
1. Prior to August 31, the City Manager submits to the City Council the proposed
operating budget for the fiscal year commencing the following October 2. The
operating budget includes proposed expenditures and the means of financing
them.
2. Public hearings are conducted to obtain taxpayer comments.
3. Prior to October 1, the budget is legally enacted through passage of an
ordinance.
The legal level of budgetary control is the department level. Administrative control
is maintained at the object level through integration with the accounting records.
Appropriations lapse at the end of each fiscal year.
In the general fund, the following departments had an excess of expenditures over
appropriations: legislative ($1,654), executive ($2,790), finance ($20,033), law
enforcement ($42,243), economic development ($2,751) and animal control ($559).
Budgets are prepared on a basis consistent with accounting principles generally
accepted in the United States of America (GAAP) for the infrastructure fund and the
nonexpendable trust fund. The general fund's non-GAAP basis budget includes
reimbursements from other funds as revenues rather than as reductions of
LIM
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
expenditures. The enterprise funds' budgets are prepared on a non-GAAP basis as
depreciation in the utility fund is not budgeted while debt principal payments and
capital additions are budgeted as expenses in all enterprise funds.
The City Manager is authorized to transfer budgeted amounts within departments
within any fund. However, any revisions that alter the total expenditures of a
department must be approved by the City Council. Budget amounts are reported as
originally adopted or revised. A schedule summarizing budget revisions by fund is
presented in notes to the financial statements No. 2.
Budgets are not adopted for the block grant, expendable trust fund, internal service
and trust funds. Budget amounts for the general, infrastructure, impact fee and debt
service funds are reported in the combined financial statements. A comparison of
budgeted and actual (budgetary basis) expenses in the enterprise funds is shown in
notes to financial statements No. 2.
E. . Assets, Liabilities and Fund Equity
1. Cash, Cash Equivalents, and Investments - For purposes of cash flows, cash
includes amounts in demand deposits as well as short-term investments with a
maturity date within three months of the date acquired by the government.
Governmental fund investments, proprietary fund investments, and pension funds
investments are reported at fair value.
2. Accounts Receivable From Other Governments - Those amounts that represent
a claim against another government, and are measurable, have been accrued.
3. Receivables - All the Utility Funds maintain the direct write-off method of bad
debt recognition due to the immateriality of the amounts. The City has no
concentrations of credit risk.
4. Inventories - Inventories are priced at cost using the first -in, first -out method.
Inventories are maintained by the General Fund and the Utility Fund. The City
uses the consumption method in expensing governmental fund inventories.
5. Restricted Assets - The restricted assets shown on the Enterprise Fund balance
sheet represent those assets of the Enterprise Fund which are earmarked for
specific purposes and cannot be used for paying general obligations of the Fund.
The corresponding liability designated as payable from restricted assets
represents the current maturities for which the restricted assets are accumulated.
B-17
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
6. Fixed Assets - General fixed assets are not capitalized in the funds used to
acquire or construct them. Instead, capital acquisition and construction are
reflected as expenditures in governmental funds, and the related assets are
reported in the general fixed assets account group. All purchased fixed assets are
valued at cost where historical records are available and at an estimated
historical cost where no historical records exists. Donated fixed assets are
valued at their estimated fair market value on the date received.
The costs of normal maintenance and repairs that do not add to the value of the
asset or materially extend asset lives are not capitalized. Improvements are
capitalized and depreciated over the remaining useful lives of the related fixed
assets, as applicable.
Public domain ("infrastructure") general fixed assets consisting of roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems and lighting systems
are capitalized by the City along with other general fixed assets.
Assets in the general fixed assets account group are not depreciated.
Depreciation of buildings, equipment and vehicles in the proprietary fund types
is computed using the straight-line method, over the following estimated useful
lives.
Useful
Proprietary Type Funds Lives (years)
Buildings 25 - 40
Land Improvements 5 - 40
Equipment 3 - 35
Interest is capitalized on proprietary fund assets acquired with tax-exempt debt.
The amount of interest to be capitalized is calculated by offsetting interest
expense incurred from the date of the borrowing until completion of the project
with interest earned on invested proceeds over the same period.
7. Compensated Absences - No accrual is made for accrued vacation leave in the
governmental funds because of immateriality. Accumulated vacation leave of
employees in the proprietary funds is recorded as an expense and liability of
those funds as the benefits accrue to employees. No accrual is made for sick
leave benefits which accumulate but do not vest until retirement.
8. Long -Term Obligations - Long-term debt is recognized as a liability of a
governmental fund when due. For other long-term obligations, only that portion
B-18
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
expected to be financed from expendable available financial resources is
reported as a fund liability of a governmental fund. The remaining portion of
such obligations is reported in the general long-term debt account group. Long-
term liabilities expected to be financed from proprietary fund operations are
accounted for in those funds.
9. Risk Management - The City is exposed to various risks of loss related to torts,
theft of, damage to and destruction of assets; errors and omissions; natural
disasters; and job -related illnesses or injuries to employees. Significant losses
are covered through participation in a local government non -assessable self
insurance pool. For these insured programs, there have been no significant
reductions in insurance programs, there have been no significant reductions in
insurance coverage. Settlement amounts have not exceeded insurance coverage
for the current year or the three prior years.
The City provides coverage for the first $40,000 per year in medical, dental, or
prescription claims for each covered employee. The City purchases commercial
insurance for claims in excess of coverage provided by the City with a total
aggregate stop -loss of $1,000,000.
10. Fund Equity - Contributed capital is recorded in proprietary funds that have
received capital grants or contributions from developers, customers or other
funds. Reserves represent those portions of fund equity not appropriable for
expenditure or legally segregated for a specific future use. Designated fund
balances represent tentative plans for future use of financial resources.
F. Revenues, Expenditures and Expenses
Interest income resulting from pooling of cash in master bank accounts is
allocated to the funds in their proportionate share.
2. Unbilled revenue, which results from cyclical billing practices, is recorded in the
following fiscal year.
3. Interfund Transactions - Legally authorized transfers from the fund receiving
revenue to the fund through which the resources are to be expended, transfers of
tax revenues from a special revenue fund to a debt service fund, transfers from
the general fund to a special revenue or capital projects fund, operating subsidy
transfers from the general or a special revenue fund to an enterprise fund, and
transfers from an enterprise fund other than payments in lieu of taxes to finance
general fund expenditures.
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
4. Bond Discounts and Issuance Costs - Bond discounts and issuance costs are
deferred and amortized over the term of the bonds using the effective rate and
straight-line methods, respectively. Bond discounts are presented as a reduction
of the face amount of the revenue bonds payable and issuance costs as other
assets.
5. Property Tax Recognition - The key dates in the property tax cycle (latest date
where appropriate) are as follows:
Assessment/lien date
January 1
Assessment roll validated
July 1
Millage resolution approved
September 30
Beginning of fiscal year for which
taxes have been levied
October 1
Tax bills rendered and due
November 1
Property taxes payable:
Maximum discount
November 30
Delinquent
April 1
Tax certificates sold
May 31
Property taxes are collected and remitted by the county tax collector. The City
does not accrue its portion of county held tax sale certificates because such
amounts are neither measurable nor available at balance sheet date.
The statutory maximum tax rates which may be assessed by the City are as
follows:
Ad valorem millage 10 mills
Utility tax (Electric, gas, telephone) 10%
Utility tax (Telecommunications) 7%
G. Total Columns on the Combined Statements -Overview - Total columns on the
Combined Statements -Overview are captioned Memorandum Only to indicate that
they are presented only to facilitate financial analysis. Data in these columns do not
present financial position, results of operations, or changes in cash flows in
conformity with generally accepted accounting principles. Neither is such data
comparable to a consolidation. Interfund eliminations have not been made in the
aggregation of this data.
1
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
2. Stewardship, Compliance and Accountability:
A. Budget Revisions
The following schedule summarizes budget revisions by Fund:
Original Final
Budget Revisions Budget
General Fund $5,797,528 $ 551,957 $6,349,485
B. General Fund Budget/GAAP Reconciliation:
Excess of revenues and other sources over
expenditures and other uses (budgetary basis) $ 681,565
Adjustments:
To reduce revenues for administrative service fees (367,991)
To reduce expenditures for administrative service fees 367,991
Excess of revenues and other sources over expenditures
and other uses (GAAP basis) 681.565
C. Special Revenue Funds Budget/GAAP Reconciliation:
Excess of revenues and other financing sources over
expenditures and other financing uses (budgetary basis) $ 848,094
Adjustments:
To record excess of revenues and other financing
sources over expenditures and other financing uses for
unbudgeted Block Grant Fund. 1
Excess of revenues and other financing sources over
expenditures and other financing uses (GAAP basis) 8095
B-21
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
D. Enterprise Funds Budget Comparisons
Comparison of budgeted and actual (budget basis) expenses at the legal level of
control for the Enterprise Funds is presented as follows:
Water
Sewer
Sanitation
Stormwater
Fund
Fund
Fund
Fund
Actual Expenses (GAAP Basis)
$ 1,611,486
$1,680,917
$ 961,246
$133,057
Less:
Unbudgeted depreciation
(258,025)
(324,143)
(53,858)
(18,275)
Add:
Capital additions
132,017
472,470
41,687
106,846
Principal payments
52,200
127,800
...
Actual (Budget Basis)
1,537,678
1,957,044
949,075
221,628
Budget
3.900.151
9,507,762
8 22.505
156,392
Variance -favorable (unfavorable)
JZjL0 718
(86,570
(65,236)
E. Deficit Fund Equity
The Group Self Insurance Fund had a deficit retained earnings of ($37,223). The
City is increasing the premium in order to provide operating income for future years.
3. Deposits and Investments:
DEPOSITS
The Florida Security for Depositors Act identifies those financial institutions that have
deposited the required collateral in the name of the treasurer of the State of Florida as
qualified public depositories. The City only places deposits with qualified public
depositories. Therefore, all City deposits are entirely insured by FDIC or Florida's Multiple
Financial Institution Collateral Pool.
B-22
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
INVESTMENTS
State statutes authorizes investment in:
a. The Local Government Surplus Funds Trust Fund, (commonly referred to as the
SBA) administered by the Florida State Board of Administration or any
intergovernmental investment pool authorized pursuant to the Florida Interlocal
Cooperation Act, as provided in s. 163.01.
b. Securities and Exchange Commission registered money market funds with the
highest credit quality rating from a nationally recognized rating agency.
c. Interest -bearing time deposits or savings accounts in qualified public
depositories, as defined in s. 280.02.
d. Direct obligations of the U.S. Treasury.
The State Board of Administration (Board) was established on June 21, 1928, pursuant to
Chapter 14486, 1929, Laws of Florida. The Board was subsequently created as a
constitutional body corporate on January 1, 1943, under the provisions of Senate Joint
Resolution No. 324, 1941; approved by the electorate in November 1942. The Board is
composed of the Governor, as Chairman, the State Treasurer, as Treasurer, and the State
Comptroller, as Secretary, and provides the following services by law: (1) investment of
funds of the Florida Retirement System (FRS); (2) administration of debt service funds; (3)
investment of trust and agency funds; and (4) distribution of the "Second Gas Tax."
The SBA is governed by Ch. 19-7 of the Florida Administrative Code, which identifies the
Rules of the State Board of Administration. These rules provide guidance and establish the
general operating procedures for the administration of the SBA. Additionally, the Office of
the Auditor General performs the operational audit of the activities and investments of the
State Board of Administration.
The SBA is not a registrant with the Securities and Exchange Commission (SEC): however,
the Board has adopted operating procedures consistent with the requirements for a 2a-7
fund. Therefore the pool account balance (amortized cost) can be used as fair value for
financial reporting.
The City's investments are categorized below to give an indication of the level of risk
assumed by the entity at year-end. Category 1 includes investments that are insured or
registered, or securities held by the City or its agent in the City's name. Category 2 includes
B-23
CI
5.
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
uninsured and unregistered investments held by the counterparty's agent in the City's name.
Category 3 includes uninsured and unregistered investments held by a counterparty but not
in the City's name.
Carrying Fair
Value Value
RISK CATEGORY 3:
Repurchase Agreement $ 2,824,000 $ 2,824,000
(Securities held by bank in bank's name)
USTN notes (held by broker) 2,558,924 2,559,357
Investment in local government surplus funds trust 8,122,124 8,122,124
Florida Municipal Pension Trust Fund 5,753,472 _ 5,753.472
Total $19,258,520 $19.258 553
Community Development Block Grant Fund Mortgages Receivable:
The City rehabilitated houses using Community Development Block Grant funds. A
mortgage for the amount of rehabilitation costs was recorded for each house. Twenty
percent of the mortgage is forgiven each year the homeowner continues to live in the home
and properly maintains it. In each of the next five years the amount of mortgage receivable
will be reduced along with a corresponding amount of deferred revenue. During the year
ended September 30, 2000, $92,977 of the original mortgage amounts was forgiven.
Changes In General Fixed Assets:
A summary of changes in general fixed assets is as follows:
Land
Buildings
Improvements other
than buildings
Balance -
9/30/99 Additions
$ 1,535,811 $
2,911,970 652,315
5,751,296 902,357
Balance -
Deletions 9/30/00
$ $ 1,535,811
... 3,564,285
... 6,653,653
Machinery and equipment
2.5�
682,140
89.223
3.119A02
Totals
$112 725,562
$2236.812
89,223
$14.873,151
B-24
21
7
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Changes in Proprietary Fund Fixed Assets:
Balance -
Balance -
9/30/99
Additions
Deletions 9/30/00
Land
$ 1,464,129
$ ...
$ ... $ 1,464,129
Water system
8,562,929
65,924
... 8,628,853
Sewer system
12,300,474
509,676
... 12,810,150
Improvements other
than buildings
454,807
86,508
541,315
Equipment
1,514,335
163,432
1.677 767
Total Assets
24,296,674
825,540
25,122,214
Less: Accumulated
depreciation
6,569,236
678.301
7,247,537
Net
M7,727.438
147,239
$ J17.874.677
Pension Funds:
The City has three separate single employer defined benefit plans for general employees,
sworn police officers, and firefighters respectively, as well as a defined contribution plan
for general employees. The investment and administrative agent for these plans is the
Florida Municipal Pension Trust Fund, an agent multiple -employer Public Employee
Retirement System. Costs of administering the plans are paid from investment income. The
plans issue neither a stand-alone financial report nor are included in the report of a public
employee retirement system.
DEFINED BENEFIT PENSION PLANS
Membership in each of the defined benefit pension plans at September 30, 2000, was as
follows:
Retirees/beneficiaries
currently receiving benefits
Vested terminated employees
Active employees:
Fully vested
Nonvested
General Police
Employees Officers Firefighters
15 3 2
0 0 2
0 4 3
0 22 14
B-25
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Eli ig'bility for Participation
General employees - all permanent general employees actively employed by
the City on September 30, 1985, who elected to
participate. All participants have now retired.
Police officers
Firefighters
VESTING
Full
Partial
- all actively employed sworn police officers.
- all actively employed firefighters.
GENERAL
EMPLOYEES
Age 65; 10 years service
Age 60; 10 years service
Monthly 2% of highest 5 year
Benefits average salary times
years of creditable
service
POLICE OFFICERS FIREFIGHTERS
Age 55; 10 years Age 55; 10 years service
service
vesting as 10/1/90,
age 60
Age 50; 10 years Age 50; 10 years service
service
2.25% of average $5.00 per month times
monthly earnings years of creditable
times years of service for part-time.
creditable service Full time: 2% of
average monthly salary
times service years.
For all plans the partially vested monthly benefit shall be the fully vested amount reduced
by 5/ 12th of 1 % of said amount for each month that early retirement precedes the normal
retirement date.
Each defined benefit plan provides disability benefits. Benefit provision and all other
requirements are established by Florida Statute and City Ordinance.
If an employee terminates his or her employment with the Police or Fire Departments, the
employee is entitled to a refund of his or her contribution.
IM
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Police officers and firefighters contribute 1 % of their annual salary to their respective plans.
The General Employee plan is non-contributory. The City is required to contribute the
remaining amount necessary to fund the Plans according to the actuarial valuations.
All three plans use the aggregate actuarial cost method which does not identify or separately
amortize unfunded actuarial liabilities.
FUNDING POLICY
GENERAL
POLICE
EMPLOYEES
OFFICERS
FIREFIGHTERS
Contribution rates:
City
44.8%
10.2%
3.8%
Plan members
0%
1 %
1 %
Annual pension cost
$ 16,701
$ 91,861
$ 10,202
Contributions made
6,818
25,368
18,124
Actuarial surplus applied
11,593
69,878
...
Actuarial valuation date
10/01/99
10/01/99
10/01/99
Aggregate cost Aggregate cost Aggregate cost
Actuarial cost method
N/A
N/A
N/A
Amortization method
N/A
N/A
N/A
Remaining
amortization period
Asset valuation method
5 year
5 year
5 year
smoothed
smoothed
smoothed
market
market
market
Actuarial assumptions:
Investment rate of return
7.5%
7.5%
7.5%
Projected salary increases
6.0%
5.5%
5.5%
Includes inflation at
3.5%
3.5%
5.5%
Cost of living adjustments
N/A
N/A
3.5%
B-27
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Three Year Trend Information
Annual
Percentage
Net
Year Pension
of APC
Pension
Ending Cost (APQ
Contributed
Obligation
General Employees 9/30/00 $ 16,701
110
0
9/30/99 13,438
100
0
9/30/98 13,500
170
0
Police Officers 9/30/00 $ 91,861
95
0
9/30/99 89,564
125
0
9/30/98 68,311
161
0
Firefighters 9/30/00 $ 10,202
177
0
9/30/99 11,135
374
0
9/30/98 9,395
485
0
SCHEDULE OF CONTRIBUTIONS
ANNUAL
CITY
STATE
REQUIRED
CONTRIBUTION
CONTRIBUTION
CONTRIBUTI N
PERCENTAGE
PERCENTAGE
General Employees
1992-93
$ 5,543
147.6%
0.0%
1993-94
13,348
100.00/0
0.0%
1994-95
17,120
100.0%
0.0%
1995-96
20,738
100.00/0
0.0%
1996-97
13,500
100.0%
0.0%
1997-98
13,500
170.7%
0.0%
1998-99
13,438
100.00/0
0.0%
1999-00
16,701
40.8%
0.0%
Police Officers
1992-93
$65,540
40.4%
57.4%
1993-94
72,517
39.4%
54.6%
1994-95
74,514
33.9%
64.3%
1995-96
73,945
32.6%
68.9%
1996-97
78,058
26.7%
71.8%
1997-98
68,311
48.2%
104.1%
1998-99
82,558
30.1%
97.5%
1999-00
91,861
18.7%
0.00/0
For the year ending September 30, 2000 the General Employees and Police pension funds applied
their surplus contribution account balances to current year required contributions.
B-28
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
ANNUAL CITY
REQUIRED CONTRIBUTION
CONTRIBUTION ION PERCENTAGE
STATE
CONTRIBUTION
PERCENTAGE
Firefighters
1992-93
$ 180
0.0%
5627.2%
1993-94
184
0.00/0
9122.8%
1994-95
6,273
0.0%
235.6%
1995-96
7,774
0.0%
232.6%
1996-97
8,444
0.0%
254.6%
1997-98
9,395
0.0%
480.3%
1998-99
10,100
0.0%
402.1%
1999-00
10,202
0.0%
156.6%
The City's annual pension cost and net pension obligation to the Firefighters pension fund
for the current year were as follows:
Annual required contribution $ 10,202
Interest on net pension obligation 2,440
Adjustment to annual required contribution (2.440)
Annual pension cost 10,202
Contributions made 18,124
Decrease in net pension obligation (7,922)
Net pension obligation beginning of year (32,538)
Net pension obligation end of year 40 460)
GENERAL EMPLOYEE DEFINED CONTRIBUTION PENSION PLAN
The defined Contribution Pension Plan for General Employees of the City of Clermont was
established October 1, 1985, as defined in Chapter 16, Article IV, of the Clermont Code.
This Plan is available to all permanent general employees of the City.
Employees are fully vested in the Plan after ten years of service. The following is the partial
vesting schedule:
YEARS OF SERVICE
Less than five years
5 years
6 years
7 years
8 years
9 years
10 years
VESTED INTEREST
0%
50%
60%
70%
80%
90%
100%
lim
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Membership in the defined contribution pension plan at September 30, 2000, was as follows:
General Employees
Retirees and beneficiaries
currently receiving benefits 0
Vested terminated employees 2
Active employees:
Fully vested 17
Partially vested 8
Nonvested 50
In a defined contribution plan, benefits depend solely on amounts contributed to the plan
plus investments earnings. Contributions for, and interest forfeited by, employees who
terminate employment before five years of service are used to reduce the City's current
period contributions.
Covered payroll for this Plan for fiscal year 2000 was $2,168,499; the City's total payroll
was.$3,393,596.
The City contributes annually to the pension account of each active participant an amount
equal to eight percent (8%) of the employee's annual compensation. No contribution is
required of employees.
The required contribution by the City for fiscal year 2000 was $173,480 or eight percent
(8%) of covered payroll, less forfeitures of $37,792. Actual contribution was $135,688.
8. Post -retirement Benefits:
Retired employees have the option of continuing the same type of health and dental
insurance coverages available to them while they were employed with the City. The cost
of the premiums is paid totally by the retirees.
9. Risk Management:
During fiscal year 1990, the City established an internal service fund to account for its
uninsured risk of loss for employee medical and dental coverage. Under this program, the
fund provides coverage for the first $40,000 per year in medical, dental, or prescription
claims for each covered employee. The City purchases commercial insurance for claims in
excess of coverage provided by the fund with a total aggregate stop -loss of $1,000,000.
I:15d1
10
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
There has been no reduction in insurance coverage from that carried in the prior year.
Claims paid have not exceeded insurance coverage in any of the past three fiscal years.
The general, water, sewer, sanitation and stormwater funds participate in the program and
make payments to the internal service fund based on the number of employees budgeted in
each fund.
2000
1999
1998
Claims liabilities,
beginning of year
$ 20,349
$ 32,324
$ 9,567
Incurred claims
467,034
386,894
286,767
Payments on claims
(450,171
(39809)
26(� 4�010)
Claims liabilities, end of year
37 212
20.349
$ 32.324
Unpaid claims are based on reported claims up to sixty days after year end and personal
knowledge of any employees' major health crisis.
Commitments:
The following construction projects were not completed at September 30, 2000.
TOTAL
COST
ESTIMATED
INCURRED
FINANCING
COST
TO DATE
SOURCE
City Hall - Design
$300,000
$ 58,710
Debt
Fire Station #1 - Construction
877,659
570,113
Debt
Hancock Park - Construction
591,785
506,968
State grant/impact fees
Waterfront Park - Construction
185,000
173,147
State grant/impact fees
Wastewater treatment - Engineering
497,500
209,737
Impact fees
B-31
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
11. General Long -Term Debt:
The following is a summary of changes in notes payable and bonds outstanding for the year
ended September 30, 2000:
Line of
Notes
Mortgages
Bonds
Credit
Pavable
Payable
Total
Bonds and Notes Payable
At October 1, 1999
$ 765,000
$
$ 397,000
$ 27,062
$1,189,062
New debt
2,000,000
300,000
90,000
2,390,000
Retirements
1200.000i
JkLl06
t4.416.
(270,522
Bonds and Notes Payable
At September 30, 2000
565.000
_2 000,000
6� 30,894
$ 112 646
S 3,308.540
B-32
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
Bonds and notes payable at September 30, 2000, are comprised of the following individual
issues:
$2,070,000 Sales Tax Revenue Bond, Series 1989 due serially in
annual installments of $110,000 to $225,000 starting June 1,
1991 through June 1, 2003; interest rates vary from 6.3% to
7.05%
Line of credit to Florida Local Government Finance Commission
issued August 31, 2000. Matures December 2, 2003. Interest
only payments made monthly. Interest is based on a percentage
of the federal T-bill rate. (Averaging 4.3%)
Capital Improvement Notes, Series 1998A due to SunTrust Bank
in five annual calendar year installments of $80,829 (including
interest) and two annual installments of $22,979 starting
December 1, 1999. The notes bear an interest rate of 3.95% and
are secured by the City's general government revenues. The
loan was obtained to upgrade the City's computer system,
achieve Y2K compliance and purchase a firetruck.
Capital Improvement Notes, Series 1999 due to SunTrust Bank
in ten annual installments of $40,264 (including interest) starting
December 1, 2000. The notes bear an interest rate of 5.742%.
The loan was obtained to purchase a firetruck.
Note payable, dated August 1, 2000, due in five annual
installments of $18,000 starting August 1, 2001; plus interest at
10% per annum. The downtown development district parking
lot land was purchased with the proceeds.
Note payable to Bank of America, dated May 23,1980, due in 24
annual installments of $4,417 each, starting May 23, 1982, plus
interest at 5 1/2% per annum, secured by the gasoline tax
revenues of the City.
Total General Long Term Debt
$ 565,000
2,000,000
330,894
300,000
21646
5 3.308.540
B-33
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
The annual requirements to amortize all general long-term debt outstanding as of September
30, 2000, including interest payments of $511,194, are as follows:
Year Ending
September 30
2001
2002
2003
2004
2005 2006-2010
Total
Bonds
$249,510
$249,915
$ 139,165
$ ...
$ ... $ ...
$638,590
Line of Credit
86,000
86,000
86,000
2,014,333
... ...
2,272,333
Note Payable
79,490
79,437
79,383
79,326
22,559 22,543
362,738
Note Payable
40,264
40,264
40,264
40,264
40,264 201,320
402,640
Note Payable
27,000
25,200
23,400
21,600
19,800 ...
117,000
Note Payable
5,661
5,418
5,175
4,935
5,244
26,433
Total 487 925 486 234 373 387 160 458 87 867 223 863 3� 81r 9 ?34
12. Advance Refunding:
On July 1, 1993, the City received a $3,905,000 loan from the City of Arcadia Dedicated
Pool Local Government Revenue Bonds, Series 1993, with an interest rate of 5.48 percent
to advance refund $1,055,000 of outstanding 1972 Series bonds with an interest rate of 6
percent and $2,080,000 of 1988 refunding bonds with interest rates ranging from 5.25 to 8
percent. The net proceeds of $3,480,987 (after payment of $424,013 in underwriting fees,
insurance, issuance costs, and reserve allocation) were disbursed through an escrow deposit
agreement and invested in defeasance obligations which will produce sufficient maturing
principal and interest to timely pay the principal and interest of the outstanding obligations.
As a result, both the 1972 and 1988 issues are considered to be defeased and the liability for
these bonds has been removed from the City's financial statements. At September 30, 2000,
$2,150,000 of bonds outstanding are considered defeased.
13. Enterprise Fund Long -Term Debt:
The following is a summary of changes in issues outstanding for the year ended September
30, 2000:
1993 Issue
Bonds and notes payable - October 1, 1999 $10,96000
Retirements (180,000)
Bonds and notes payable - September 30, 2000 10 780 000
B-34
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
The debt is comprised of the following items:
$3,905,000 1993 refunding bond issue due serially in annual
installments of $125,000 to $515,000 starting December 1,1993,
through December 1, 2015; interest of 5.48% is paid
semiannually. The net revenues of the water and sewer funds
are pledged to secure the repayment of the debt.
$7,990,000 water and sewer revenue and refunding bond
anticipation notes bearing interest of 5%. Interest only payments
due semi-annually with a balloon principal payment due
December, 2000. This debt will be paid from proceeds of Water
and Sewer Revenue and Refunding Bonds, Series 2000.
$ 2,790,000
7 990,000
S 10,780.000
The annual requirements to amortize the debt outstanding as of September 30, 2000,
including interest payments of $1,722,526, are as follows.
YEAR ENDING
SEPTEMBER 30 TOTAL
2001
$ 8,516,600
2002
323,282
2003
324,078
2004
216,740
2005
216,740
2006 - 2010
1,080,728
2011- 2015
1,078,945
2016
745.413
$ 12,502,526
B-35
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
14. Interfund Receivables and Payables:
Individual fund interfund receivable and payable balances at September 30, 2000, are as
follows:
Interfund Interfund
Receivables Payables
General Fund $ 11 $ 45,542
Group Self Insurance Fund ... 11
Sewer Fund 6,665
Water Fund ... 7,008
Sanitation Fund 3,275
Stormwater Fund ... 991
Police Pension Trust Fund 17,165 ...
General Employee
Defined Contribution Pension Fund 46,316
Totals 4. 63,492 L§L492
IM
15
CITY OF CLERMONT, FLORIDA
NOTES TO TBE FINANCIAL STATEMENTS
Reserved Fund Balances and Retained Earnings:
Fund Balance - Reserves have been established for the following items:
Reserved for Parking Lots - Funds collected specifically for off
street parking.
Reserved for Police Education - Funds reserved by state statute
for training of police officers.
Reserved for Inventory - Funds expended for goods that will be
used in the following year.
Reserved for Prepaids - Funds expended for service that will be
used in the following year.
Reserved for Downtown Redevelopment - Funds restricted for
infrastructure improvements in a geographic area defined by
ordinance.
Reserved for Debt Service - Funds restricted for payment of
general long term debt principal.
Reserved for Debt Service - Funds restricted for payment of
interest on general long term debt.
Reserved for Cemetery Care - Funds reserved by City ordinance
for future care of the cemetery.
Reserved for Employees' Retirement Systems - Funds restricted
for payment of retirement benefits.
Total Reserved Fund Balances
$ 4,638
29,217
17,572
2,128
1,667
70,000
13,170
326,050
5M6M3
6 281 395
Retained Earnings - Reserves have been established in accordance with both the covenants
of the City's bond indentures for the following items in the Enterprises Funds:
Reserved for Debt Service - Fund restricted for future servicing $ 245,521
of the revenue bonds.
Reserved for Expansion - Utility Benefits Fees and loan proceeds
restricted for utility expansion. 3,910,988
B-37
CITY OF CLERMONT, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
16. Changes in Contributed Capital:
Balance October 1, 1999 $ 7,273,400
Contributions from developers 3,809-891
Balance September 30, 2000 $11.083.291
17. Segment Information:
The City maintains four Enterprise Funds which provide water, sewer, sanitation, and
stormwater services. Segment information for the year ended September 30, 2000, is as
follows:
FUNDS
Totals
Water
Sewer
Sanitation
Stormwater
Operating Revenues
$ 2,124,341
$ 1,323,239
$ 889,531
$183,271
$ 4,520,382
Depreciation
258,025
324,143
77,858
18,275
678,301
Operating Income (Loss)
756,833
(14,359)
(71,715)
50,214
720,973
Operating Grants
...
...
Operating transfer out
(208,259)
(77,785)
(2,978)
(1,422)
(290,444)
Operating transfer in
...
...
Net Income (Loss)
480,240
(202,076)
(66,202)
55,761
267,723
Current Capital - Contributions
910,720
2,899,171
...
3,809,891
Plant, Property and Equipment:
Additions
121,115
576,230
41,687
86,508
825,540
Net Working Capital
1,417,209
427,105
112,775
123,249
2,080,338
Total Assets
10,295,230
16,601,849
362,659
716,148
27,975,886
Bonds and Other Long -Tenn
Liabilities:
Payable From Operating Revenues
4,501,589
6,088,411
...
10,590,000
Total Equity
5,541,289
10,102,736
325,305
691,145
16,660,475
18. Contingencies:
The City is not aware of any pending or threatened litigation which would not be covered
by insurance.
19. Subsequent Events:
In November, 2000, the City issued its Water and Sewer Revenue and Refunding Bonds,
Series 2000 in the amount of $17,935,000 for the purpose of funding a portion of the City's
sewer treatment plant expansion and various other water and sewer capital improvements
and refinancing the City's outstanding Water and Sewer Revenue and Refunding Bond
Anticipation Notes, Series 1996.
B-38
CITY OF CLERMONT, FLORIDA
NOTES TO FINANCIAL STATEMENTS
20. Awards:
The City received several state and local grants.
Program
Total
Grantor/
Program
Assistance
Disbursements/
Program Title
LD. Number
Received
Expenditures
Florida Department of Community
Affairs:
Community Planning
99-DR-1 G-06-45-02-015
$ 6,000
$ 6,000
Police Department C.P.D.
Laptop Reporting
00-CJ-G3-06-45-02-036
$ 7.508
$ 7,508
Florida Department of
Environmental Protection:
Hancock Park Project
F20178
$ 100,000
$ 100,000
(receivable
at 9/30/00)
Lake County:
Recycling and Education Grant
RE00-33
$ 3,347
$ 3,347
Youth Recreation Grant
N/A
$ 13,570
$ 13,570
Capital Recreation
N/A
$ 10,000
$ 10,000
Hancock Park
N/A
$ 150,000
$ 150,000
COMBINING AND INDIVIDUAL
FUND AND ACCOUNT GROUP
STATEMENTS
These financial statements provide a more detailed view of the
"General Purpose Financial Statements" presented in the preceding
subsection.
Combining statements are presented when there are more than one
fund of a given fund type. Individual fund and account group
statements are presented when there is only one fund of a given type
and for the account group. They are also necessary to present
budgetary comparisons.
GOVERNMENTAL FUND TYPES
GENERALFUND
The General Fund accounts for all revenues and expenditures of the
City that are not required to be accounted for in other funds. It
receives a greater variety and number of taxes and other general
revenues than any other fund.
CITY OF CLERMONT, FLORIDA
GENERALFUND
COMPARATIVE BALANCE SHEETS
SEPTEMBER 30, 2000 AND 1999
TOTALS
ASSETS 2000 1999
Cash and equivalents
Investments
Receivables:
Accounts
Assessments
Interfund receivables
Interest
Due from other governments
Prepaid expenditures
Inventory
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable
Interest payable
Contracts payable
Payroll related accruals
Interfund payables
Deferred revenue
Total Liabilities
Fund Balance:
Reserved for parking lots
Reserved for police education
Reserved for inventory
Reserved for prepaids
Unreserved, undesignated
Total Fund Balance
TOTAL LIABILITIES AND FUND BALANCE
$ 454,130
$ 119,193
1,061,387
908,353
55,957
42,179
26,664
26,664
11
199
5,087
156,453
44,539
2,128
417
17,572
8,794
$ 1,774,501
$ 1,155,226
$ 187,271
$ 187,579
8,509
5,226
35,791
45,591
83,404
45,542
37,203
26,664
26,664
313,577
375,867
4,638
4,638
29,217
29,152
17,572
8,794
2,128
417
1,407,369
736,358
1,460,924
779,359
$ 1,774,501
$ 1,155,226
B-40
CITY OF CLERMONT, FLORIDA
GENERALFUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
VARIANCE
FAVORABLE
1999
BUDGET
ACTUAL
(UNFAVORABLE)
ACTUAL
Revenues:
Taxes
$ 3,019,480
$ 3,312,753
$ 293,273
$ 2,623,966
Licenses and permits
132,000
188,517
56,517
149,702
Intergovernmental revenues
997,908
959,751
(38,157)
838,118
Charges for services
406,991
428,139
21,148
270,968
Fines and forfeitures
163,000
174,044
11,044
108,720
Miscellaneous
259,455
339,369
79,914
135,550
Total Revenues
4,978,834
5,402,573
423,739
4,127,024
Expenditures:
Current:
General government
1,440,709
1,244,419
196,290
1,242,963
Public safety
2,449,797
2,455,502
(5,705)
1,733,444
Physical environment
148,025
141,846
6,179
141,752
Transportation
499,954
465,752
34,202
419,830
Economic environment
22,835
25,586
(2,751)
7,547
Human services
24,355
24,914
(559)
25,794
Culture and recreation
1,763,810
1,713,375
50,435
1,214,759
Total Expenditures
6,349,485
6,071,394
278,091
4,786,089
Excess (Deficiency) of Revenues
Over (Under) Expenditures
(1,370,651)
(668,821)
701,830
(659,065)
Other Financing Sources (Uses):
Operating transfers in
984,125
1,065,347
81,222
283,337
Operating transfers out
(15,655)
(14,961)
694
(4,419)
Debt proceeds
617,000
300,000
(317,000)
397,000
Total Other Financing Sources (Uses)
1,585,470
1,350,386
235,084
675,918
Excess (Deficiency) of Revenues and Other
Financing Sources Over Expenditures and
and Other Financing Sources (Uses)
214,819
681,565
466,746
16,853
Fund Balance - October 1
779,359
779,359
762,506
FUND BALANCE - SEPTEMBER 30
$ 994,178
$ 1,460,924
$ 466,746
$ 779,359
B-41
CITY OF CLERMONT, FLORIDA
GENERALFUND
SCHEDULE OF REVENUES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
VARIANCE
FAVORABLE 1999
BUDGET ACTUAL (UNFAVORABLE) ACTUAL
Revenues:
Taxes:
Ad valorem
$ 1,181,680
$ 1,205,271
$ 23,591
$ 837,908
Local option gas tax
196,000
205,885
9,885
198,877
Franchise fees
590,000
653,631
63,631
560,156
Utility taxes
1, 051,800
1,247,966
196,166
1,027,025
Total Taxes
3.019.480
3,312.753
293,273
2,623,966
Licenses and Permits:
Professional and occupational
42,000
71,309
29,309
38,660
Other permits
90.000
117,208
27,208
111.042
Total Licenses and Permits
132,000
188,517
56,517
149,702
Intergovernmental Revenues:
Two -cent cigarette tax
32,500
28,012
(4,488)
31,381
State revenue sharing
146,700
168,977
22,277
150,636
Mobile home licenses
9,200
10,150
950
8,412
Alcoholic beverage licenses
5,000
9,639
4,639
5,342
Half --cent sales tax
356,300
380,646
24,346
335,509
Motor fuel tax rebate
5,000
8,718
3,718
6,333
Municipality share of county occupational licenses
9,700
10,630
930
9,701
Municipality share of one -cent voted gas tax
59,000
55,901
(3,099)
60,934
Grants
374,508
287.078
(87,430)
229,870
Total Intergovernmental Revenues
997,908
959.751
(38.157)
838,118
Charges For Services:
Public safety
2,000
965
(1,035)
1,840
Program activity fees
37,000
59,183
22,183
42,496
Administrative service fee
367,991
367,991
226.632
Total Charges For Services
406,991
428.139
21,148
270,968
Fines and Forfeitures:
Court fines
125,000
124,650
(350)
85,252
Police education
6,500
7,060
560
3,794
False alarms
2,000
6,010
4,010
...
Confiscations
3,000
3,986
986
1,068
Automation
26,500
32,338
5.838
18,606
Total Fines and Forfeitures
163,000
174,044
11,044
108,720
Miscellaneous Revenues:
Interest and change in value
54,500
78,196
23,696
64,468
Rentals
32,000
43,968
11,968
22,256
Memorial sales
...
510
510
20
Surplus equipment
4,500
12,862
8,362
...
Contributions
143,200
163,687
20,487
2,069
Reimbursements
10,255
26,644
16,389
34,330
Other miscellaneous
15,000
13,502
{1,498)
T
12,407
Total Miscellaneous Revenues
259,455
339.369
79,914
135.550
TOTAL REVENUES
$$ 4,978,834
$ 5.402,573
$ 423,739
$$ 4,127,024
B-42
CITY OF CLERMONT, FLORIDA
GENERALFUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
VARIANCE
FAVORABLE
1999
BUDGET
ACTUAL
(UNFAVORABLE)
ACTUAL
General Government:
Legislative:
Personal services
$ 20,668
$ 20,668
$
$ 20,561
Operating expenses
13,004
14,658
(1,654)
7,968
Total Legislative
33,672
35,326
(1,654)
28,529
Executive:
Personal services
135,173
139,398
(4,225)
142,474
Operating expenses
8,520
7,600
920
5,619
Capital outlay
900
385
515
1,913
Total Executive
144,593
147,383
(2,790)
150,006
Finance and Administrative:
Personal services
273,472
274,804
(1,332)
240,659
Operating expenses
77,845
99,121
(21,276)
121,991
Capital outlay
24,926
21,559
3,367
97,105
Debt service
55,101
55,893
iIL21
7,930
Total Finance and Administrative
431,344
451,377
(20,033)
467,685
Legal Services:
Operating expenses
35,000
32,800
2,200
11,816
Total Legal Services
35,000
32,800
2,200
11,816
Planning and Zoning:
Personal services
234,030
216,777
17,253
188,448
Operating expenses
105,071
54,310
50,761
146,583
Capital outlay
32,022
10,315
21.707
47,315
Total Planning and Zoning
371,123
281,402
89,721
382,346
Other General Services:
Personal services
183,282
169,034
14,248
31,647
Operating expenses
145,495
78,726
66,769
33,303
Capital outlay
96,200
43,778
52,422
137,631
Debt service
4,593
(4,593)
Total Other General Services
424,977
296,131
128,846
202,581
Total General Government
1,440,709
1,244,419
196,290
1,242,963
(continued)
B-43
CITY OF CLERMONT, FLORIDA
GENERALFUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
Public Safety:
Law Enforcement:
Personal services
Operating expenses
Capital outlay
Total Law Enforcement
Fire Control:
Personal services
Operating expenses
Capital outlay
Debt service
Total Fire Control
Total Public Safety
Physical Environment:
Public Works:
Personal services
Operating expenses
Capital outlay
Total Physical Environment
Transportation:
Road and Streets:
Personal services
Operating expenses
Capital outlay
Total Transportation
BUDGET
1,294,664
169,463
1,533,338
VARIANCE
FAVORABLE 1999
ACTUAL (UNFAVORABLE) ACTUAL
1,294,297
203,370
77,914
1,575, 581
367
(33, 907)
(8,703)
t42,243)
1,151,081
161,332
153,224
1,465,637
293,679
265,854
27,825
142,281
63,740
63,765
(25)
92,514
475,079
510,092
(35,013)
28,834
83,961
40,210
43,751
4,178
916,459
879,921
36,538
267,807
2,449,797
2,455,502
(5,705)
1,733,444
102,959
90,376
12,583
83,362
44,066
51,423
(7,357)
34,867
1,000
47
953
23,523
148,025
141,846
6,179
141,752
229,447
207,707
62,800
499,954
204,541
199,532
61,679
465,752
24,906
8,175
1,121
34,202
222,277
153,703
43,850
419,830
(continued)
B-44
CITY OF CLERMONT, FLORIDA
GENERALFUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
Economic Environment:
Economic Development:
Operating expenses
Capital outlay
Total Economic Environment
Human Services:
Animal Control:
Personal services
Operating expenses
Total Human Services
Culture and Recreation:
Library:
Operating expenses
Debt service
Total Library
Parks and Recreation:
Personal services
Operating expenses
Capital outlay
Total Parks and Recreation
Total Culture and Recreation
TOTAL EXPENDITURES
BUDGET
$ 21,335
1,500
22,835
VARIANCE
FAVORABLE 1999
ACTUAL (UNFAVORABLE) ACTUAL
$ 24,086 $ (2,751) $ 7,038
1,500 509
25,586 (2,751) 7,547
18,490 19,981 (1,491) 20,491
5,865 4,933 932 5,303
155,404
154,922
482
142,908
5,904
5,910
t6)
6,150
161,308
160,832
476
149,058
435,675
375,729
59,946
292,673
237,509
339,007
(101,498)
293,411
929,318
837,807
91,511
479,617
1,602,502
1,552,543
49,959
1,065,701
1,763,810
1,713,375
50,435
1,214, 759
$ 6,349,485 $ 6,071,394
$ 278,091 $ 4,786,089
B-45
»-
»ar
-
�©-
SPECIAL REVENUE FUNDS
The Special Revenue Funds are used to account for the proceeds of
specific revenue sources (other than special assessments,
expendable trust, or -major capital projects) that are legally restricted
to expenditure for specified purposes. The General Fund pays
certain administrative expenses.
INFRASTRUCTURE FUND
To account for the proceeds of the Local Government Infrastructure
Surtax to be received by the City until December 2002. The
proceeds and interest accrued thereto, by law are only to be used to
finance, plan and construct infrastructure.
IMPACT FEE FUND
To account for the recreation, police and fire impact fees collected
from new developments constructed in the City.
BLOCK GRANT FUND
To account for the Community Development Block Grant from the
U.S. Department of Housing and Urban Development.
CITY OF CLERMONT, FLORIDA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1999
INFRA-
BLOCK
STRUCTURE
IMPACT FEE
GRANT
TOTALS
ASSETS
FUND
FUND
FUND
2000
1999
Cash and equivalents
$ 34,943
$ 286,810
$ 254
$ 322,007 $
169,578
Investments
431,481
423,755
...
$55,236
230,292
Due from other government
60,545
...
...
60,545
40,712
Mortgages receivable
...
210,006
210,006
302,983
Developer credits
...
78,892
...
78.892
TOTAL ASSETS
$ 526,969
$ 789,457
$ 210,260
$ 1,526,686 $
743,565
LIABILITIES AND
FUND BALANCE
Liabilities:
Accounts payable
$ 27,120
$ $97
$
$ 28,017
$ 14
Deferred revenue
210,006
210,006
302,983
Total Liabilities
27,120
897
210,006
238,023
302,997
Fund Balance
499,849
788,560
254
1.288,663
440.568
TOTAL LIABILITIES AND
FUND BALANCE
$ 526,969
$ 789,457
$ 210,260
$ 1,526,686
$ 743,565
B-46
CITY OF CLERMONT, FLORIDA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
Revenues:
Taxes
Intergovernmental
Miscellaneous:
Interest
Impact fees
Total Revenues
Expenditures:
Current:
General Government
Transportation
Economic environment
Culture and recreation
Total Expenditures
Excess of Revenues
Over Expenditures
Other Financing Sources (Uses):
Operating transfers out
Total Other Financing
Sources (Uses)
Excess of Revenues Over
Expenditures and Other Financing
Fund Balances - October 1
FUND BALANCES - SEPTEMBER 30
INFRA- BLOCK
STRUCTURE IMPACT FEE GRANT
FUND FUND FUND
$ 598,313 $ $
18,312 38,917 1
996,145
616,625 1,035.062 1
TOTALS
2000
1999
$ 598,313
$ 547,480
...
33,963
57,230
17,470
996.145
240,412
1,651,688
839,325
...
...
... ...
38,694
29,201
... 29,201
17,556
...
...
... ...
28,564
20,048
20.048
133,200
49,249
49,249
2� 18,014
567.376
1,035,062
1 1,602.439
621,311
(247,307)
(507,037)
(754,344)
(380,080)
(247,307)
(507.037)
(754.344}
(380.080)_
320,069
528,025
1 848,095
241,231
179.780
260.535
253 440.568
199,337
$ 499,849
$ 788,560 $254
$ 1,288,663�
$ 440,568
B-47
CITY OF CLERMONT, FLORIDA
INFRASTRUCTURE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
VARIANCE
FAVORABLE
1999
BUDGET
ACTUAL
(UNFAVORABLE)
ACTUAL
Revenues:
Taxes
$ 525,000
$ 598,313
$ 73,313
$ 547,480
Miscellaneous:
Interest
1,500
18,312
16,812
7,358
Total Revenues
526,500
616,625
90,125
554,838
Expenditures:
Current:
General government
...
...
...
38,694
Transportation
240,000
29,201
210,799
17,556
Culture and recreation
20,048
(20,048)
133,200
Total Expenditures
240,000
49,249
190,751
189,450
Excess of Revenues Over Expenditures
286,500
567,376
280,876
365,388
Other Financing Sources (Uses):
Operating transfers out
(250,060)
(247,307)
2,753
(248,080)
Total Other Financing Sources (Uses)
(250,060)
(247,307)
2,753
(248,080)
Excess of Revenues Over
Expenditures and Other Financing
36,440
320,069
283,629
117,308
Fund Balance - Beginning of Year
179,780
179,780
62,472
FUND BALANCE - END OF YEAR
$ 216,220
$ 499,849
$ 283,629
$ 179,780
B-48
CITY OF CLERMONT, FLORIDA
IMPACT FEE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
VARIANCE
FAVORABLE
1999
BUDGET
ACTUAL
UNFAVORABLE)
ACTUAL
Revenues:
Miscellaneous:
Interest
$ 6,100
$ 38,917
$ 32,817
$ 10,014
Impact fees
365,100
996,145
631,045
240,412
Total Revenues
371,200
1,035,062
663,862
250,426
Expenditures:
Debt service:
Public safety
62,600
62,600
Total Expenditures
62,600
62,600
Excess of Revenues Over Expenditures
308,600
1,035,062
726,462
250,426
Other Financing Sources (Uses):
Operating transfers out
(300,987)
(507,037),
(206,050)
_�132,000)
Total Other Financing Sources (Uses)
(300,987)
(507,037)
(206,050)
(132,00�
Excess of Revenues Over
Expenditures and Other Financing
7,613
528,025
520,412
118,426
Fund Balance - Beginning of Year
260,535
260,535
142,109
FUND BALANCE - END OF YEAR
$ 268,148
$ 788,560
$ 520,412
$ 260,535
B-49
DEBT SERVICE FUND
The Debt Service Fund is used to account for the accumulation of
resources for, and the payment of, general long-term debt principal
and interest.
SALES TAX REVENUE BOND SINKING FUND
To account for the accumulation of funds and payment of debt
service pertaining to the 1989 Sales Tax Revenue Bond. The City's
share of the local government infrastructure surtax has been pledged
to pay the 1989 Sales Tax Bond debt service. A portion of the surtax
revenue is transferred to the sales tax bond fund monthly.
CITY OF CLERMONT, FLORIDA
SALES TAX REVENUE BOND SINKING FUND
COMPARATIVE BALANCE SHEETS
SEPTEMBER 30, 2000 AND 1999
TOTALS
ASSETS 2000 1999
Cash and equivalents
$
83,170
$
84,437
TOTAL ASSETS
$
83,170
$
84,437
FUND BALANCE
Fund Balance:
Reserved for debt service - principal $ 70,000 $ 66,667
Reserved for debt service - interest 13,170 17,770
TOTAL FUND BALANCE $ 83,170 $ 84,437
B-50
CITY OF CLERMONT, FLORIDA
SALES TAX REVENUE BOND SINKING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
2000
Revenues:
Miscellaneous:
Interest
Total Revenues
Expenditures:
Debt Service:
Fees
Interest
Principal
Total Expenditures
Excess (Deficiency) of Revenues
Over Expenditures
Other Financing Sources:
Operating transfers in
Excess (Deficiency) of Revenues and
Other Financing Sources Over Expenditures
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
BUDGET ACTUAL
$ 4,000 $ 5,486
4,000 5,486
750
750
53,310
53,310
200,000
200,000
254,060
254,060
(250,060)
(248,574)
VARIANCE
FAVORABLE 1999
(UNFAVORABLE)_ ACTUAL
$ 1,486 $ 4,861
1,486 4.861
... 1,561
... 65,982
185,000
252,543
1,486 (247,682)
250,060 247,307 (2,753) 248,080
... (1,267) (1,267) 398
84,437 84,437 84,039
$ 84,437 $ 83,170 $ [1,267} $ 8�4,437
B-51
CAPITAL PROJECT FUND
The Capital Project Fund is used to account for the financial
resources to be used for the acquisition or construction of major
capital facilities when the project is financed over several accounting
periods.
BUILDING CONSTRUCTION FUND
To account for the financing and construction of Fire Station #1 and
new City Hall.
ASSETS
Investments
Accounts receivable
Prepaid items
TOTAL ASSETS
CITY OF CLERMONT, FLORIDA
BUILDING CONSTRUCTION FUND
COMPARATIVE BALANCE SHEETS
SEPTEMBER 30, 2000 AND 1999
LIABILITIES AND FUND BALANCE
Liabilities
Contracts payable - retainage
Fund Balance
TOTAL LIABILITIES AND FUND BALANCE
TOTALS
2000
$ 1,275,801
$ 2,877
4,000
$ 1,282,678
$ 194,634 $
1,088,044
$ 1,282,678 $
1999
B-52
CITY OF CLERMONT, FLORIDA
BUILDING CONSTRUCTION FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FROM INCEPTION AND FOR THE YEAR ENDED SEPTEMBER 30, 2000
PROJECT PRIOR CURRENT TOTAL
AUTHORIZATION YEARS YEAR TO DATE
Revenues:
Miscellaneous
Interest
Total Revenues
Expenditures:
Capital outlay:
City Hall (see note below)
Fire Station
Total Capital Outlay
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Debt proceeds
Operating transfers in
Operating transfers out
Total Other Financing Sources (Uses)
Excess (Deficiency) of Revenues and Other
Financing Sources Over (Under) Expenditures
and Other Financing Uses
Fund Balance - October 1
FUND BALANCE - SEPTEMBER 30
$ 42,000 $ $ 8,224 $ 8,224
42,000 8,224 8.224
4,631,000 130,839 58,710 189,549
1.140.000 137,027 593,604 730.631
5.771.000 267,866 652,314 920180
:5 729.0001 (267,866) (644.090) (911.956)
5,229,000 ... 2,000,000 2,000,000
767,866 267,866 ... 267,866
i267,866y (267.866) (267.866)
5,729,000 267.866 1.732,134 2,000,000
$ $ 1,088,044 $ 1,088,044
$ 1,088,044
(This amount represents the City's best estimate of the City Hall project costs)
B-53
PROPRIETARY FUND TYPES
ENTERPRISE FUNDS
Enterprise Funds are used to account for operations (a) that are
financed and operated in a manner similar to private business
enterprises where the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods or services to
the general public on a continuing basis be financed or recovered
primarily through user charge; or (b) where the governing body has
decided that periodic determination of revenues earned, expenses
incurred, and/or net income is appropriate for capital maintenance,
public policy, management control, accountability, or other purposes.
WATER FUND
To account for the provision of water services to City residents and
some out -of -city customers. All activities necessary to the provision
of these services are accounted for in this fund, including, but not
limited to administration, plant and line maintenance.
SEWER FUND
To .account for the provision of services to City residents and some
out -of -city customers. All activities necessary to the provision of
these services are accounted for in this fund, including, but not limited
to administration, plant and line maintenance.
SANITATION FUND
To account for the provision of garbage and trash removal service to
the residents of the City. All activities necessary to the provision of
these services are accounted for in this fund.
STORMWATER UTILITY FUND
To account for the construction and maintenance of stormwater
drainage systems within the City. All activities necessary to the
provision of this service are accounted for in this fund.
ASSETS
Current Assets:
Cash and equivalents
Investments
Receivables:
Accounts
Interest
Other
Due from other governments
Prepaid items
Inventory
Total Current Assets
Restricted Assets:
Cash and equivalents
Investments
Total Restricted Assets
Other Assets:
Deferred charges
Property, Plant and Equipment
Land
Water system
Sewer sytem
Improvements other than buildings
Machinery and equipment
Less accumulated depreciation
Net Property, Plant and Equipment
TOTAL ASSETS
CITY OF CLERMONT, FLORIDA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
WATER
SEWER
SANITATION
STORMWATER
TOTALS
FUND
FUND
FUND
FUND
2000
1999
$ 240,244
$ 260,650
$ 9,175
$ 117,443 $
627,512 $
545,169
1,015,058
329,954
49,654
11,154
1,405,820
1,042,169
196,245
126,742
86,967
19,655
429,609
328,442
3,578
571
...
...
4,149
13,895
9,079
...
...
...
9,079
496
...
...
...
...
...
3,141
...
...
4,333
...
4,333
4,787
33.503
...
...
...
33.503
26.097
1.497, 707
717,917
150,129
148.252
2,514,005
1, 964,196
682,121
956,547
...
...
1,638,668
1,172,229
1,846,055
3,928,689
5,774,744
2,809,518
2.528,176
4,885.236
7,413,412
3,981.747
51,300
122.492
173.792
214,379
224,209
1,239,920
...
...
1,464,129
1,464,129
8,628,853
...
...
...
8,628,853
8,562,929
...
12,810,150
...
...
12,810,150
12,300,474
...
...
541,315
541,315
454,807
341,804
404.843
833,592
97.528
1.677,767
1,514,335
9,194,866
14,454,913
833,592
638,843
25,122,214
24,296,674
2,976 819
3,578,709
621,062
70.947
7,247,537
6,569.236
6.218.047
10.876,204
212,530
567.896
17,674.677
17.727.438
$$ 10295,2300
$ 16,601,849
$$ 3�62,6599
$ 716,148 $
27,975,886 $
23.887.760
B-54
WATER SEWER SANITATION STORMWATER TOTALS
LIABILITIES AND FUND EQUITY FUND FUND FUND FUND 2000
Liabilities:
Current Liabilities
(payable from current assets):
1999
Accounts payable
$ 34,848
$ 272,478
$ 23,620
$ 23,439
$ 354,385
$ 156,256
Contracts payable
...
...
...
20,338
Other accrued expenses
38,642
11,669
10,459
573
61,343
75,113
Interfund payables
7.008
6,665
3.275
991
17,939
13,380
Total Current Liabilities
-
(payable from current assets)
80,498
290.812
37.354
25,003
433,667
265,087
Current Liabilities
(payable from restricted assets):
Deposits
94,751
...
...
...
94,751
89,459
Accrued interest
72,226
107,950
...
...
180,176
182,756
Revenue bonds
55,100
134,900
190.000
180,000
Total Current Liabilities
(payable from restricted assets)
222.077
242,850
464,927
452 215
Long -Term Liabilites:
Revenue bonds (net of current portion
and deferred refunding amount)
4.451,366
5,965,451
10,416,817
10.587,597
Total Long -Term Liabilities
4,451,366
5,965,451
10,416,817
_10,587,597
Total Liabilities
4,753.941
6,499,113
37,354
25.003
11,315,411
11.304,899
Fund Equity:
Contributed capital
2,592,697
8.252,325
101,722
136,547
11,083,291
7,273,400
Refined Earnings
Reserved for debt service
158,861
86,660
...
...
245,521
Reserved for expansion
2,147,237
1,763,751
...
...
3,910, 988
Unreserved
642.494
223.583
554,598
1.420675
Total Retained Earnings
2.948,592
1.850.411
223,583
554598
5,577,184
Total Fund Equity
5.541.289
10 102,736
325,305
691,145_
16 660,475
TOTAL LIABILITIES AND FUND EQUITY $
10,295,230
$ 16,601,849
$ 362,659
$ 716,148
$ 27,975.886
276,075
3,124,708
1.908.678
5.309 461
12 582.861
$ 23,887,760
B-55
CITY OF CLERMONT, FLORIDA
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
WATER SEWER SANITATION STORMWATER
FUND FUND FUND FUND
Operating Revenues
TOTALS
2000 1999
Charges for services
$ 2,109,731
$ 1,306,691
$ 879,204
$ 183,271
$ 4,478,897
$ 3,673,076
Miscellaneous
14,610
16.548
10 327
41,485
14,253
Total Operating Revenues
2,124,341
1,323,239
889.531
183,271
4,520,382
3,687,329
Operating Expenses:
Personal services
413,063
409,910
302,043
53,420
1,178,436
1,061,074
Utilities
155,924
211,662
...
...
367,586
343,481
Dumping fees
...
...
291,682
7,603
299,285
309,003
Administrative services
151,458
150,016
39,060
27,497
368,031
226,632
Repair and maintenance
97,898
91,366
23,069
8,421
220,754
292,312
Depreciation
258,025
324,143
77,858
18,275
678,301
646,887
Professional services
62,575
62,622
180,724
12,979
318,900
187,848
Insurance
9,848
34,448
10,744
1,790
56,830
37,971
Operating supplies
189,623
31,520
30,299
1,218
252,660
112,378
Office expense
26,648
20,635
4,245
1,548
53,076
44,187
Bad debt
2446
1,276
1.522
306
5.550
9.102
Total Operating Expenses
1,367,508
1,337,598
961 246
133.057
3799,409
3.269,875
Operating Income (Loss)
756,833
(14,359)
(71,715)
50,214
720,973
417,454
Nonoperating Revenues (Expenses):
Interest revenue
151,402
233,387
5,044
6,969
396,802
178,039
Interest expense
(243,978)
(343,319)
...
...
(587,297)
(611,491)
Grants/contributions
...
...
3,447
...
3,447
3,141
Change in fair value
24 242
...
...
------------
24,242
4.257
Total Nonoperating
Revenues (Expenses)
(68,334)
(109 932)
8,491
6,969
(162,806)
1,426.054]_
Income (Loss) Before
Operating Transfers
688,499
(124,291)
(63,224)
57,183
558,167
(8,600)
Operating transfers (out)
208 259)
(77,785)
(2,9781
(1,422)
1290,444)
(151 337}
Net Income (Loss)
480,240
(202,076)
(66,202)
55,761
267,723
(159,937)
Retained Earnings - October 1
2,468,352
_ 2,052,487
289,785
498 837
5.309,461
5,469,398
RETAINED EARNINGS - SEPTEMBER 30
$ 2.948 592
$ 1,850,411
$ 223,583
$ 554,598
$ 5,577,184
$ 5,309,461
B-56
CITY OF CLERMONT, FLORIDA
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30.1999
WATER
SEWER
SANITATION
STORMWATER TOTALS
FUND
FUND
FUND
FUND
_
2000
1999
Cash Flows From Operating Activities:
Charges for services
$ 2,075,892
$ 1,304,327
$ 867,833
$ 178,182
$ 4,426,234 $
3,658,113
Cash payments to suppliers
(720,752)
(396,564)
(592,793)
(61,724)
(1,771,833)
(1,561,719)
Cash payments for employee services
{411,173?
416,3821
[305,362;
(54,731)
�[1,187648)
f1,042.294r
Net Cash Provided (Used)
By Operating Activities
943,967
491381
(30,32Z
61,727
1,466.753
1,054100
Cash Flows From NonCapital
Financing Activities:
Operating transfers out
(208,259)
(77,785)
(2,978)
(1,422)
(290,444)
(151,337)
Grants/oontributions
6 588
6,588
2.802
Net Cash Provided (Used) By
NonCapitalFinancing Activities
(208259)
(77,785)
3,610
(1,422)
(283,856)
(148,535)
Cash Flows From Capital and
Related Financing Activities:
Acquisition and construction of capital assets
(121,115)
(576,230)
(41,687)
(86,508)
(825,540)
(773,234)
Principal paid
(52,200)
(127,800)
...
...
(180,000)
(175,000)
Interest paid
(225,969)
(304,100)
...
(530,069)
(553,085)
Contributed capital
910,320
2,899,171
...
3,809,891
1,697,806
Sale of assets
...
30,125
Net Cash Provided (Used) By Capital and
Related Financing Activities
511 436
1,891,041
(41T687)
(86,508)
2.274,282
226.612
Cash Flows From Investing Activities:
Interest
147,824
236,402
5,044
6,969
396,239
174,949
Investment sales
...
...
5,468
...
5,468
10,592
Investment purchases
(1,109,848)
+2,199,6491_
(607)
_{3,310,104)
(617698)
Net Cash Provided (Used)
By Investing Activities
(962,024)
(1,963,247)
10.512
6,362
f2,908,397)
{432,157)
Net Increase (Decrease)
in Cash and Equivalents
285,120
341,390
(57,887)
(19,841)
548,782
700,020
Cash and Equivalents at Beginning of Year
637.245
875.807
67.062
137.284
1,717,398
1.017.378
Cash and Equivalents at End of Year
$ 922.365
$ 1.217.197
$ 9,175
$ 117,443
$ 2.266,180 $
1.717.398
B-57
WATER
SEWER
SANITATION
STORMWATER
TOTALS
FUND
FUND
FUND
FUND
2000
1999
Reconciliation of Operating Income To Net Cash
Provided By Operating Activities:
Operating income (Loss)
$ 756,833
$ (14,359)
$ (71,715)
$ 50,214
$ 720,973
$ 417,454
Adjustments to Reconcile Operating Income
to Net Cash Provided by Operating Activities:
Depreciation
258,025
324,143
77,858
18,275
678,301
645,887
Change in Assets and Liabilities:
Decrease (Increase) in receivables
(53,742)
(18,912)
(21,698)
(5,089)
(99,441)
(32,449)
Decrease (Increase) in prepaids
113
158
113
70
454
2,316
Decrease (Increase) in inventory
(7,407)
...
...
...
(7,407)
1,809
Increase (Decrease) in deposits
5,293
...
...
5,293
3,233
Increase (Decrease) in accrued expenses
1,890
(6,472)
(3,319)
(1,311)
(9,212)
17,644
Increase (Decrease) in payables
(17,038)
206,823
(11,561)
(432)
177,792
(1,794)
Total Adjustments
187,134
505,740
41,393
11,513
745,780
636,646
Net Cash Provided (Used) by Operating Activities
$ 943,967
$ 491.381
$�30 3�
$ 61,727
$ 1466.753
$ 1,054100
B-58
INTERNAL SERVICE FUND
The Internal Service Fund is used to account for the financing of
goods or services provided by one department to the other
departments on a cost reimbursement basis.
GROUP SELF-INSURANCE FUND
To account for the City's retention of risk financing arising from
employee medical and dental expense claims. Costs are billed
based on historical costs and to the various departments.
CITY OF CLERMONT, FLORIDA
GROUP SELF INSURANCE FUND
COMPARATIVE BALANCE SHEETS
SEPTEMBER 30, 2000 AND 1999
TOTALS
ASSETS 2000 1999
Investments $ $ 64,281
TOTAL ASSETS $ $ 64,281
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable $ 37,212 $ 20,349
Interfund payable 11
TOTAL LIABILITIES 37,223 20,349
Retained Earnings:
Unreserved (37,223) 43,932
TOTAL LIABILITIES AND FUND EQUITY $ $ 64,281
B-59
CITY OF CLERMONT, FLORIDA
GROUP SELF INSURANCE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
FOR THE YEARS ENDED SEPTEMBER 30, 2000 AND 1999
TOTALS
2000 1999
Operating Revenues:
Charges for services $ 451,120 $ 367,882
Insurance stop -loss payments 16,449 43,795
Total Operating Revenues 467,569 411,677
Operating Expenses:
Re -insurance premiums 59,330 49,886
Administrative fees 23,587 20,793
Medical claims 467,034 386,894
Total Operating Expenses 549,951 457,573
Operating Income (Loss) (82,382) (45,896)
Nonoperating Revenues:
Interest revenue 1,227 5,404
Net Income (Loss) (81,155) (40,492)
Retained Earnings - October 1 43,932 84,424
RETAINED EARNINGS - SEPTEMBER 30 $ (37,223) $ 43,932
B-60
CITY OF CLERMONT, FLORIDA
GROUP SELF INSURANCE FUND
COMPARATIVE STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED SEPTEMBER 30, 2000 AND 1999
TOTALS
Cash Flows From Operating Activities:
Cash received from customers
Cash payments to suppliers
Cash payments for medical claims
Net Cash Used By Operating Activities
Cash Flows From Investing Activities:
Interest
Investment sales
Net -Cash Provided By Investing Activities
Net Decrease in Cash
Cash at Beginning of Year
Cash at End of Year
Reconciliation of Operating Income to Net Cash
Used By Operating Activities:
Operating (loss)
Adjustments to Reconcile Operating Income to Net Cash
Provided (Used) By Operating Activities:
Increase (Decrease) in payables
Net Cash Used By Operating Activities
$ 467,569 $ 411,677
(82,917) (70,679)
(450,160) (398,869)
(65,508) (57,871)
1,227 5,404
64,281 42,942
65,508 48,346
... (9,525)
9,525
$ $
$ (82,382) $ (45,896)
16,874 (11,975)
$ (65,508) $ (57,871)
B-61
FIDUCIARY FUND TYPES
TRUST FUNDS
Trust Funds are used to account for assets held by the City in a
trustee capacity.
PENSION TRUST FUNDS:
GENERAL EMPLOYEES PENSION TRUST FUND
To account for the accumulation of resources to be used for the
retirement annuities of all full-time permanent employees, except
police officers and firefighters. The City maintains defined benefit
and defined contribution plans for its general employees. Annual
contributions made to the defined benefit plan are in accordance with
an actuarial study, whereas, a fixed percentage of employees
salaries is used in determining the annual contribution to the defined
contribution plan.
POLICE OFFICERS PENSION TRUST FUND
To account for the accumulation of resources to be used for the
retirement annuities of all police officers. The state contributes
money based upon the number of police officers and the City
contributes an amount determined by an actuarial study.
FIREFIGHERS PENSION TRUST FUND
To account for the accumulation of resources to be used for the
retirement annuities of all firefighters. The state contributes money
based upon the number of firefighters and the City contributes an
amount determined by an actuarial study.
NON -EXPENDABLE TRUST FUND:
CEMETERY PERPETUAL CARE FUND
To account for monies provided by people buying lots in the City
cemetery. The principal must be kept separate and apart from all
other funds, but the interest may be transferred to the General Fund
to defray the cost of cemetery operation and maintenance.
EXPENDABLE TRUST FUND:
COMMUNITY REDEVELOPMENT FUND
To account for funds administered by Downtown Clermont
Redevelopment Agency. The agency is authorized to use the funds
to finance community redevelopment projects within the downtown
area.
CITY OF CLERMONT, FLORIDA
COMBINING BALANCE SHEET
FIDUCIARY FUND TYPES
SEPTEMBER 30, 2000 AND 1999
EXPENDABLE PENSION
TRUST TRUST NONEXPENDABLE
FUND FUNDS TRUST
COMMUNITY CEMETERY
REDEVELOPMENT PUBLIC PERPETUAL TOTALS
FUND EMPLOYEES CARE 2000 1999
ASSETS
Cash and equivalents $ 1,667 $ $ 17,990 $ 19,657 $ 35,993
Investments ... 5,753,472 308,060 6,061,532 5,315,699
Interfund receivable 63.481 63.481 50,583
Total Assets $ 1,667 $ 5,816.953 $ 326,050 $ 6.144.670 $ 5402,275
FUND BALANCES
Reserved for downtown redevelopment $ 1,667 $ $ $ 1,667 $ 17,515
Net assets held in trust for
pension benefits ... 5,816,953 ... 5,816,953 5,076,435
Reserved for cemetery care _ 326,050 326.050 308,325
Total Fund Balance $ 1,667 $ 5,816,953 $ 326.050 $ 6.144,670 $ 5,402.275
T.
B-62
CITY OF CLERMONT, FLORIDA
EXPENDABLE TRUST FUND
COMMUNITY REDEVELOPMENT FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 2000 AND 1999
ASSETS
Cash and equivalents
TOTAL ASSETS
FUND BALANCE
Fund Balance:
Reserved for downtown redevelopment
___ 2000
$ 1,667
$ 1,667
$ 1,667
TOTALS
1999
$ 17,515
$ 17,515
$ 17,515
B-63
CITY OF CLERMONT, FLORIDA
EXPENDABLE TRUST FUND
COMMUNITY REDEVELOPMENT FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEARS ENDED SEPTEMBER 30, 2000 AND 1999
TOTALS
2000 1999
Revenues:
Ad valorem taxes $ 28,163 $ 12,276
Interest 1,578 820
Total Revenues 29,741 13,096
Expenditures:
Transportation 130,550 ...
Economic environment 20,000
Total Expenditures 150,550
Excess (deficiency) of revenues over expenditures ( 120-809) 13.096
Other financing sources:
Operating transfer in 14,961 4,419
Debt proceeds 90,000
Total other financing sources 104.961 4,419
Excess (deficiency) of revenues and other
financing sources over expenditures (15,848) 17,515
Fund Balance - Beginning of Year 17,515
Fund Balance - End of Year $ 1,667 $$ 17,515
B-64
CITY OF CLERMONT, FLORIDA
PENSION TRUST FUNDS
COMPARATIVE STATEMENT OF PLAN NET ASSETS
SEPTEMBER 30, 2000 AND 1999
GENERAL EMPLOYEES
Defined Defined
Benefit Contribution
ASSETS
Police Firefighter
Pension Pension
TOTALS
2000 1999
Investments (at fair value) $ 1,129,302 $ 1,433,390 $ 2,410,304 $ 780,476 $ 5,753,472 $ 5,025,862
Receivables
Interfund 46,316 17,165 63,481 50.583
TOTAL ASSETS $ 1,129,302 $ 1,479,706 $ 2,427,469 $ 780,476 $ 5,816,953 $ 5,076,435
LIABILITIES
Net assets held in trust
for pension benefits
$ 1,129,302 $ 1,479,706 $2,427.469 $ 780476 $ 5,816.953 $ 5,0�76,435
B-65
CITY OF CLERMONT, FLORIDA
PENSION TRUST FUNDS
COMBINING STATEMENT OF CHANGES IN PLAN NET ASSETS
FOR THE YEARS ENDED SEPTEMBER 30, 2000 AND 1999
GENERAL EMPLOYEES
TOTALS
Defined
Defined
Police
Firefighter
Benefit
Contribution
Pension
Pension
2000
1999
Additions
Contributions
Employer
$ 6,818
$ 135,688
$ 17,165
$
$ 159,671 $
134,167
Plan members
...
...
8,203
2,126
10,329
8,041
State
...
...
...
15,998
15,998
121.083
Total Contributions
6,818
135,688
25,368
18,124
185.998
263,291
Investment income
156,991
190,754
328,870
105,387
782,002
561,994
Less: Investment expenses
4.682
5,574
7,098
5,519
22,873
21,887
Net investment income
152,309
185,180
321,772
99,868
759.129
540,107
Total Additions
159.127
320.868
347,140
117,992
945,127
803,398
Deductions
Benefits/distributions
75,920
48.185
79.316
1,188
204.609
217,119
Net increase
83,207
272,683
267,824
116,804
740,518
586,279
Net assets held in
trust for pension benefits
Beginning of year
1,046,095
1,207,023
2,159,645
663,672
5,076,435
4,490,156
End of Year
$ 1,129.302
$ 1,479.706
$ 2,427,469
$ 780,476
$ 5,816.953 $
5,076,435
B-66
CITY OF CLERMONT, FLORIDA
NONEXPENDABLE TRUST FUND
CEMETERY PERPETUALCARE-FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 2000 AND 1999
TOTALS
ASSETS 2000 1999
Cash and equivalents $ 17,990 $ 18,478
Investments 308,060 289,847
TOTAL ASSETS $ 326,050 $ 308,325
FUND BALANCE
Fund Balance:
Reserved for cemetery care $ 326,050 $ 308,325
B-67
CITY OF CLERMONT, FLORIDA
NONEXPENDABLE TRUST FUND
CEMETERY PERPETUAL CARE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCE
FOR THE YEARS ENDED SEPTEMBER 30, 2000 AND 1999
TOTALS
2000 1999
Operating Revenues:
Sales - cemetery lots $ 17,725 $ 24,625
Operating Expenses:
Operating supplies 133
Operating income 17,725 24,492
Fund Balance - Beginning of Year 308,325 283,833
Fund Balance - End of Year $ 326,050 $ 308,325
B-68
CITY OF CLERMONT, FLORIDA
NONEXPENDABLE TRUST FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
TOTALS
2000 1999
Cash Flows from Operating Activities:
Cash received from customers
Cash payments to suppliers
Net Cash Provided by Operating Activities
Cash Flows from Investing Activities:
Investment purchases
Net Increase (Decrease) in Cash and Equivalents
Cash and Equivalents at Beginning of Year
Cash and Equivalents at End of Year
Reconciliation of Operating Income to Net Cash
Provided by Operating Activities:
Operating Income
Net Cash Provided by Operating Activities
$ 17,725 $ 24,625
(133)
17,725 24,492
(18,213) (18,037)
(488) 6,455
18,478 12,023
$ 17,990 $ 18,478
$
17,725
$
24,492
$
17,725
$
24,492
B-69
ACCOUNT GROUPS
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP
This is a self -balancing account group used to record the fixed assets
of the City that are not used in proprietary fund operations or
accounted for in trust funds.
GENERAL LONG-TERM DEBT ACCOUNT GROUP
This is a self -balancing account group used to record the principal
portion of the City's general long-term debt that is not related to the
proprietary fund operations or accounted for in trust funds.
CITY OF CLERMONT, FLORIDA
SCHEDULE OF GENERAL FIXED ASSETS BY SOURCES
FOR THE YEAR ENDED SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1999
TOTALS
2000
1999
General Fixed Assets:
Land
$
1,535, 811
$
1,535, 811
Buildings
3,564,285
2,911,970
Improvements other than buildings
6,653,653
5,751,296
Equipment and vehicles
3,119,402
2,526,485
Total General Fixed Assets
$
14,873,151
$
12,725,562
Investments in General Fixed Assets From:
Capital Projects Funds:
Revenue bonds
$
2,954,726
$
2,302,411
Federal, state and local grants
1,070,247
720,247
General Fund revenues
7,617,339
6,662,141
Special Revenue Fund revenues
2,454,862
2,406,786
Gifts and other
775,977
633,977
Total Investment in General Fixed Assets
$
14,873,151
$
12,725,562
B-70
FUNCTION
General government
Public safety
Physical environment
Transportation
Culture/recreation
Older assets not maintained by function
TOTAL GENERAL FIXED ASSETS
CITY OF CLERMONT, FLORIDA
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTION
AS OF SEPTEMBER 30, 2000
TOTAL
LAND
$ 835,325
$ 208,848
3,692,970
183,458
1,157, 862
47,168
2,536,620
...
6,169,189
868,229
481,185
228,108
$ 14,873151 $$ 1,535,811
IMPROVEMENTS
OTHER THAN
BUILDINGS BUILDINGS EQUIPMENT
$ 83,896
$
$ 542,581
1,727,425
...
1,782,087
721,814
98,938
289,942
...
2,391,270
145,350
945,880
4,017,072
338,008
85,270
146,373
21434
$ 3,564,285
$ 6,653,653
$ 3,119,402
B-71
CITY OF CLERMONT, FLORIDA
SCHEDULE OF CHANGES IN GENERAL FIXED ASSET
BY FUNCTION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2000
GENERAL
GENERAL
FIXED
FIXED
ASSETS
ASSETS
FUNCTION
09/30/99
ADDITIONS
DEDUCTIONS
9/30/00
General government
$ 712,305
$ 123,020
$
$ 835,325
Public safety
2,668,235
1,106,375
81,640
3,692,970
Physical environment
1,165,445
...
7,583
1,157,862
Transportation
2,456,016
80,604
...
2,536,620
Culture/recreation
5,242,376
926,813
...
6,169,189
Older assets not maintained by function
481.185
_
481,185
TOTAL GENERAL FIXED ASSETS
$ 12,725,562
$ 2,236,812
$ 89.223
$ 14,873,151
B-72
CITY OF CLERMONT, FLORIDA
SCHEDULE OF GENERAL LONG-TERM DEBT
SEPTEMBER 30, 2000
WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1999
Amount To Be Provided For The Payment of General Long -Term Debt
Amount available for principal payment in debt service fund
Amount to be provided
Total to be Provided
General Lono-Term Debt Payable
Line of credit
Revenue bonds payable
Notes payable - System upgrade r& firetruck
Note payable - Parking lot property
Note payable - Library
Total General Long -Term Debt Payable
TOTALS
2000 1999
$ 70,000 $ 66,667
3,238,540 1,122.395
$$ 3 $ 89,062
$ 2,000,000
$
565,000
765,000
630,894
397,000
90,000
...
22,646
27,062
$ 3,308,540
$ 1,189,062
B-73
STATISTICAL SECTION
Statistical tables differ from financial statements because they cover
more than one fiscal year and may present non -accounting data.
These tables reflect social and economic data, financial trends, and
the fiscal capacity of the City.
CITY OF CLERMONT, FLORIDA
COMMENTS ON THE STATISTICAL SECTION
SEPTEMBER 30, 2000
The following Statistical Tables recommended by the National
Council on Governmental Accounting are not included for the reasons
stated below:
• Tables that concern General Obligation
Debt are omitted because neither the
City nor other overlapping Governments
has incurred tax -supported debt.
• The Legal Debt Margin Computation
Table is not presented because there is
no law or ordinance that sets the
maximum amount of debt the City is
legally permitted to issue.
C-1
CITY OF CLERMONT, FLORIDA
EXPENDITURES BY FUNCTION (1)
LAST TEN FISCAL YEARS
FISCAL
GENERAL
PUBLIC
PHYSICAL
YEAR
GOVERNMENT
SAFETY
ENVIRONMENT
1990-91
$440,789
$830,411
$99,989
1991-92
397,880
931,441
101,512
1992-93
446,284
997,295
137,960
1993-94
420,678
1,017,962
144,789
1994-95
492,751
1,063,691
134,633
1995-96
561,876
1,257,255
112,794
1996-97
636,895
1,299,427
126,409
1997-98
808,901
1,633,630
152,476
1998-99
1,059,558
1,733,444
137,219
1999-00
942,498
3,049,106
134,486
(1) Includes General, Special Revenue, and Capital Projects Funds.
(2) Community Development Block Grant expenditures were included in
the 1992-93, 1995-96, 1996-97, 1997-98 and 1998-99 Fiscal Years.
C•
TABLE 1
(2)
ECONOMIC
HUMAN
CULTURE AND
TRANSPORTATION
ENVIRONMENT
SERVICES
RECREATION
TOTAL
$330,476
$9,283
$13,665
$435,748
$2,160,361
249,736
11,817
13,650
503,764
2,209,800
283,169
545,518
15,317
518,837
2,944,380
257,539
14,065
17,034
573,517
2,445,584
413,565
10,895
17,141
934,829
3,067,505
448,615
89,101
20,191
1,145,205
3,635,037
912,130
247,422
20,974
1,205,642
4,448,899
589,385
416,930
24,150
743,864
4,369,336
437,386
36,111
25,794
1,347,959
4,777,471
494,953
25,586
24,914
1,733,423
6,404,966
C-3
CITY OF CLERMONT, FLORIDA
REVENUE BY SOURCE (1)
LAST TEN FISCAL YEARS
LICENSES
FISCAL
AND
INTER -
YEAR
TAXES
PERMITS
GOVERNMENTAL
1990-91
$1,281,612
$28,917
$786,966
1991-92
1,676,117
41,127
721,510
1992-93
1,793,267
40,054
857,841
1993-94
1,983,016
39,910
505,432
1994-95
2,142,822
67,549
576,484
1995-96
2,377,962
84,260
665,899
1996-97
2,497,102
97,347
988,581
1997-98
2,769,826
133,595
1,012,582
1998-99
3,171,446
149,702
872,081
1999-00
3,911,066
188,517
959,751
(1) Includes General, Special Revenue, Debt Service and Capital Projects Funds.
C-4
CHARGES
FOR
�FRVI�FS
$19,327
32,676
36,662
38,402
57,241
32,537
46,354
42,459
44,336
60,148
FINES
AND
FORFEITURES
$69,571
90,039
75,224
91,066
152,020
151,879
128,047
160,522
108,720
174,044
INTEREST
ON
INVESTMENTS
$106,962
84,415
49,740
9,906
86,600
102,405
81,605
85,140
86,799
148,136
MISCELLANEOUS
$66,917
55,515
154,318
122,270
510,081
244,904
224,626
293,853
311,494
1,258,318
TABLE 2
TnTAI
$2,360,272
2,701,399
3,007,106
2,790,002
3,592,797
3,659,846
4,063,662
4,497,977
4,744,578
6,699,980
C-5
CITY OF CLERMONT, FLORIDA
PROPERTY TAX LEVIES, TAX COLLECTIONS AND ASSESSED VALUATIONS
LAST TEN FISCAL YEARS
(2)
ESTIMATED (1) (4)
FISCAL TAX ACTUAL ASSESSED TAX
YEAR YEAR VALUE VALUATION RATE
1990-91
1990
$164,683,728
$148,215,355
2.729
1991-92
1991
185,301,076
166,770,968
2.729
1992-93
1992
190,878,314
171,790,483
2.729
1993-94
1993
190,036,425
171,032,783
2.979
1994-95
1994
206,921,182
186,229,064
2.979
1995-96
1995
228,727,934
205,855,141
2.979
1996-97
1996
236,824,197
213,141,778
2.979
1997-98
1997
274,964,642
247,468,178
2.979
1998-99
1998
324,049,311
291,644,380
2.979
1999-00
1999
396,645,279
356,980,751
3.479
(1) Final gross taxable assessed valuation per Lake County Property Appraiser's
form DR-422.
(2) The Florida Department of Revenue has certified the Lake County tax rolls
as being at least 90% of the estimated actual value of property within the
County. Therefore, the estimated actual values shown are calculations
based on the 90% certification.
(3) Outstanding delinquent taxes are not available from the Lake County Property
Appraiser's office.
(4) Tax rate per $1,000 of taxable valuation.
TABLE 3
RATIO OF
RATIO OF
CURRENT TAX
(3)
TOTAL TAX
COLLECTIONS
DELINQUENT
TOTAL
COLLECTIONS
TAX
CURRENT TAX
TO TOTAL
TAX
TAX
TO TOTAL
LEVY
COLLECTIONS
LEVY
COLLECTIONS
COLLECTIONS
TAX LEVY
$404,480
$392,259
97.0%
$1,095
$393,354
97.2%
455,118
439,404
96.5%
2,045
441,449
97.0%
468,816
452,756
96.6%
496
453,252
96.7%
509,504
494,226
97.0%
631
494,857
97.1 %
554,776
538,217
97.0%
893
539,110
97.2%
613,242
592,529
96.6%
2,406
594,935
97.0%
634,949
608,205
95.8%
9,224
617,429
97.2%
737,207
700,112
95.0%
9,841
709,953
96.3%
868,809
836,304
96.3%
1,604
837,908
96.4%
1,241,936
1,200,779
96.7%
4,492
1,205,271
97.0%
C-7
CITY OF CLERMONT, FLORIDA
PROPERTY TAX RATES - DIRECT AND ALL OVERLAPPING GOVERNMENTS (1)
LAST TEN FISCAL YEARS (2)
LAKE
COUNTY
FISCAL TAX LAKE MSTU
YEAR YEAR CITY COUNTY STORMWATER
1990-91
1990
2.729
4.938
0.000
1991-92
1991
2.729
4.938
0.000
1992-93
1992
2.729
4.864
0.000
1993-94
1993
2.979
5.135
0.000
1994-95
1994
2.979
5.135
0.000
1995-96
1995
2.979
4.927
0.000
1996-97
1996
2.979
4.909
0.000
1997-98
1997
2.979
4.733
0.000
1998-99
1998
2.979
4.733
0.000
1999-00
1999
3.479
4.733
0.100
(1) Information was obtained from the City of Clermont tax rolls, as prepared by
the Lake County Property Appraiser's office.
(2) Tax rate per $1,000 of taxable valuation.
c-8
TABLE 4
LAKE
COUNTY
OKLAWAHA
SOUTH LAKE
ST. JOHNS RIVER
SCHOOL
WATER
HOSPITAL
WATER MANAGEMENT
DISTRICT
DISTRICT
DISTRICT
DISTRICT
TOTAL
8.749
0.771
2.000
0.358
19.545
8.880
0.751
2.000
0.358
19.656
9.005
0.740
2.000
0.358
19.696
8.938
0.517
2.000
0.470
20.039
8.515
0.400
2.000
0.482
19.511
9.678
0.384
2.000
0.482
20.450
9.228
0.384
2.000
0.482
19.982
9.100
0.384
2.000
0.482
19.678
9.190
0.384
2.000
0.482
19.768
8.742
0.500
1.000
0.482
19.036
C-9
Ah.- Ak-
CITY OF CLERMONT, FLORIDA
WATER AND SEWER CUSTOMER DATA
LAST TEN FISCAL YEARS
NUMBER OF CUSTOMERS
FISCAL WATER
YEAR RESIDENTIAL COMMERCIAL
SEWER
RESIDENTIAL COMMERCIAL
1990-91
N/A
N/A
N/A
N/A
1991-92
2419
355
1849
307
1992-93
2484
366
1893
313
1993-94
2526
385
1931
330
1994-95
3136
392
1978
350
1995-96
3483
391
2334
358
1996-97
3987
439
2770
386
1997-98
4549
447
3099
388
1998-99
5009
490
3328
443
1999-00
5992
531
3928
458
Source: Water and Sewer Customer Data Reports as of September 30
TABLE 5
ANNUAL
WATER
USAGE
GAL
440,624,000
429,716,000
465,789,000
493,821,000
482,962,000
630,763,000
833,834,000
1,087,078,000
1,146,663,000
1,394,359,000
C-10
CITY OF CLERMONT, FLORIDA
UTILITY REVENUE BOND COVERAGE - ALL UTILITY REVENUE BONDS
LAST TEN FISCAL YEARS
TOTAL
(1)
FISCAL
SYSTEM
OPERATING
YEAR
REVENUES
EXPENSES
1990-91
$1,295,653
$743,715
1991-92
1,283,276
725,969
1992-93
1,306,683
794,614
1993-94
1,315,271
956,638
1994-95
1,569,180
948,234
1995-96
1,997,673
1,038,809
1996-97
2,277,479
1,240,707
1997-98
2,641,987
1,514,280
1998-99
2,968,098
1,737,216
1999-00
3,832,369
2,122,938
(1) Excludes interest expense and depreciation.
(2) Maximum debt service in any subsequent year is $932,128
C-11
TABLE 6
(2)
DEBT
NET SERVICE
REVENUES REQUIREMENTS COVERAGE
$551,938
$335,579
1.64%
557,307
339,689
1.64%
512,069
338,256
1.51 %
358,633
290,083
1.24%
620,946
326,420
1.90%
958,864
509,355
1.88%
1,036,772
708,660
1.46%
1,127,707
711,250
1.59%
1,230,882
726,858
1.69%
1,709,431
724,400
2.36%
C-12
A-V
CITY OF CLERMONT, FLORIDA
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
FISCAL (1)
YEAR POPULATION
(2)
SCHOOL
ENROLLMENT
TABLE 7
(3)
UNEMPLOYMENT
RATE
1990-91
6,910
1,975
8.7%
1991-92
6,930
2,169
7.4%
1992-93
7,013
1,482
4.3%
1993-94
7,174
1,629
8.1 %
1994-95
7,233
1,787
5.0%
1995-96
7,291
2,381
5.2%
1996-97
7,582
2,180
3.1 %
1997-98
8,202
2,412
2.2%
1998-99
8,861
3,683
2.7%
1999-00
9,455
3,841
2.6%
DATA SOURCES:
(1) College of Business Administration, University of Florida - Bureau of Economic
and Business Research.
(2) Figures represent grades K-9 in public schools.
Source - Lake County School Board
(3) Information available on countywide basis only. Data was obtained from the
Florida Department of Labor, Bureau of Labor Market Information.
C-13
CITY OF CLERMONT, FLORIDA
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST TEN FISCAL YEARS
(2)
(2)
COMMERCIAL
RESIDENTIAL
CONSTRUCTION
CONSTRUCTION
FISCAL
# OF
# OF
YEAR
UNITS
VALUE
UNITS
VALUE
1990-91
1
$480,000
12
$1,214,600
1991-92
6
1,902,000
28
2,177,500
1992-93
4
5,551,684
46
3,051,541
1993-94
2
402,000
26
2,091,200
1994-95
2
450,000
19
1,412,837
1995-96
17
6,735,881
157
10,386,535
1996-97
14
3,340,805
289
17,797,703
1997-98
13
24,686,500
333
21,414,385
1998-99
5
17,725,000
492
34,375,122
1999-00
11
22,396,000
711
58,829,964
DATA SOURCES:
(1) Information available on countywide basis only.
Data was obtained from the Federal Deposit Insurance Corporation (FDIC)
(2) City of Clermont zoning clearances.
(3) Taxable assessed valuation per Lake County Property Appraiser's from DR-422.
(4) Non-taxable assessed valuation per Lake County Property Appraiser's office.
C-14
(1)
BANK
DEPOSITS
$1,624,935,000
1,628,750,000
1,632,882,000
1,701,038,000
1,718,591,000
1,776,670,000
2,035,941,000
2,421,416,000
2,563,111,000
2,793,537,000
ASSESSED TAXABLE
PROPERTY VALUE
(3)
TAXARI F
$148,215,355
166,770,968
171,790,483
171,032,783
186,229,064
205,855,141
213,141,778
247,468,178
291,644,380
356,980,751
TABLE 8
(4)
NONTAXABLE
$47,907,074
49,624,516
50,404,700
56,272,383
56,910,019
58,399,561
65,771,140
75,608,647
82,258,004
88,776,967
C-15
CITY OF CLERMONT, FLORIDA
PRINCIPAL TAXPAYERS
TAXPAYER
Levitt Homes, Inc.
7777 Glade Rd, Suite 410
Boca Raton, FL 33434
CPF Property Investments, Inc.
8556 Palm Parkway
Orlando, FL 32836
Lucas Clermont Limited Partnership
209 E. State Street
Columbus, OH 43215
Lennar Homes, Inc.
700 NW 107th Avenue
Miami, FL 33172
Lennar Land Partners
1110 Douglas Avenue, Suite 2040
Altamonte Springs, FL 32714
Hurtak, Family Partnership Ltd.
525 NE 58th Street
Miami, FL 33137
Mercator Properties, Inc.
P.O. Box 2310
Minneola, FL 34755
Health Care Reit, Inc.
P.O. Box 1475
Toledo, OH 43603
Lakeworth MHP, Ltd.
PO Box 359
Stuart, FL 34995
ASSESSED
VALUATION
AS OF 1 /1 /00
$10,068,792
$8,556,064
5,329,342
4,195,187
4,040,639
Lost Lake Reserve LC 2,967,576
33 E. Wall Street
Frostproof, FL 33843
TOTAL 49,687,688
Source: 2000 City of Clermont Tax Roll, prepared by the Lake County Property
Appraiser's office. C_16
TABLE 9
PERCENTAGE
OF TOTAL
ASSESSED
VALUATION
3.45%
2.93%
2.78%
2.11%
2.01 %
1.83%
1.53%
1.44%
1.39%
1.02%
17.04%
CITY OF CLERMONT, FLORIDA
LARGEST EMPLOYERS
FMPI C)YFR
South Lake Hospital
Lake County School System
Westminister Care of Clermont
City of Clermont
CBS Builders Supply Inc.
Publix
Rolling Hills Ford
Exceletech, Inc.
KMart
Bill Seidel's Chevrolet & Oldsmobile
INDUSTRY
Health Care
Education
Retirement and Nursing
Municipality
Construction Supplies
Grocery
Automobile Dealer
Steel Fabrication/Erection
Retail
Automobile Dealer
TABLE 10
NUMBER OF
EMPLOYEES
454
320
150
127
102
87
73
64
53
43
C-17
CITY OF CLERMONT, FLORIDA
SCHEDULE OF INSURANCE COVERAGES
SEPTEMBER 30, 2000
POLICY EXPIRATION
TYPE OF COVERAGE & INSURER NUMBER DATE
LIABILITY
Florida Municipal Liability FMIT 101 9/30/00
Self Insurer's Program
WORKERS COMPENSATION
Florida Municipal Self FMIT 101 9/30/00
Insurers Fund
FIRE AND EXTENDED COVERAGE
Florida Municipal Property FMIT 101 9/30/00
Self -Insurers Program
C-18
TABLE 11
DETAILS LIMITS
General Liability $100,000/Person
Bodily Injury Liability $200,000/Occurrence
Auto Liability
Law Enforcement Liability
Specific Excess Liability $1,500,000/Occurrence
Public Officials Errors $1,500,000/Occurrence
and Omissions Liability
Finance Director -Bond $100,000
Public Employees Blanket Bond $5,000
Accidental Death-Police/Fire $50,000
Statutory
Workers Compensation $100,000/500,000
per Schedule
Blanket Building and Property $19,288,522
C-19
CITY OF CLERMONT, FLORIDA
MISCELLANEOUS STATISTICAL DATA
SEPTEMBER 30, 2000
Date of Incorporation
Present Charter Adopted
Form of Government
Number of Council Members
Term of Office
Mayor/Council Members
City Manager
Area of City
Municipal Boundaries
Miles of Streets
Number of Streetlights
Fire Protection
Number of Stations
Number of Volunteer Firefighters
Number of Full-time Firefighters
Number of Fire Hydrants
Police Protection
Number of Stations
Number of Sworn Personnel
Education
Number of Schools:
Elementary
Middle
9th Grade Center
Number of Teachers
Number of Students
Municipal Water Department
Number of Customers
Average Daily Consumption
Miles of Water Mains
Wastewater and Sanitary Sewers
Miles of Sanitary Sewer Lines
Miles of Storm Sewer Lines
Recreation and Culture
Number of Parks
Number of Libraries
City Employees
Full -Time
Part -Time
C-20
TABLE 12
1916
1962
Council -Manager
Five (5)
Two Years (2)
Appointed
11.26 square miles
52
825
1
34
5
657
2
25
3
1
1
193
3,841
6,523
3,820,162 gallons
125
100
25
22 with 101.5 acres
1
127
4
OTHER REPORTS
CLERMONT OFFICE
Herbert John Greenlee, Jr., C.P.A.
Jerry D. Brown, C.P.A.
Suzanne M. Wolfe, C.P.A.
/ GREENLEE
KURRAS
RICE &
BROWN, PA
CERTIFIED PUBLIC
ACCOUNTANTS
MOUNT DORA OFFICE
John S. Rice, C.P.A.
Patricia A. Sykes -Amos, C.P.A.
C. L. (Chip) Garner, C.P.A.
Dorothy A. Kurras, C.P.A.
John A. Powers, C.P.A.
Keire Rice Hosley, C.P.A.
David S. McDonald, C.P.A.
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
The Honorable Mayor and City Council
City of Clermont, Florida
We have audited the general purpose financial statements of the City of Clermont, Florida as of and for the
year ended September 30, 2000, and have issued our report thereon dated January 30, 2001. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether City of Clermont, Florida's general purpose financial
statements are free of material misstatement, we performed tests of its compliance with certain provisions of
laws, regulations, contracts, and grants, noncompliance with which could have a direct and material effect on
the determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results
of our tests disclosed no instances of noncompliance that are required to be reported under Government
Auditing Standards.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered City of Clermont, Florida's internal control over
financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion
on the general purpose financial statements and not to provide assurance on the internal control over financial
reporting. Our consideration of the internal control over financial reporting would not necessarily disclose
all matters in the internal control over financial reporting that might be material weaknesses. A material
weakness is a condition in which the design or operation of one or more of the internal control components
does not reduce to a relatively low level the risk that misstatements in amounts that would be material in
relation to the general purpose financial statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing their assigned functions. We noted no matters
involving the internal control over financial reporting and its operation that we consider to be material
weaknesses.
This report is intended for the information of the City Council, management, and awarding agencies.
However, this report is a matter of public record and its distribution is not limited.
5
0
Mount Dora, Florida
February 13, 2001
MEMBER: FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS 8 AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
605 Montrose Street D-1 627 N. Donnelly Street
P.O. Box 120400 • Clermont, FL 34712-0400 P.O. Box 8 • Mount Dora, FL 32756-0008
(352) 394-3256 • Fax (352) 394-6910 (352) 383-6300 • Fax (352) 383-6356
, NN
CLERMONT OFFICE
01 GREENLEE
Herbert John Greenlee, Jr., C.P.A.
KURRAS
Jerry D. Brown, C.P.A.
RICE &
Suzanne M. Wolfe, C.P.A.
"`
BROWN, PA
CERTIFIED PUBLIC
ACCOUNTANTS
INDEPENDENT ACCOUNTANT'S REPORT ON
COMPLIANCE WITH SPECIFIED REQUIREMENTS
The Honorable Mayor and City -Commissioners
City of Clermont, Florida
MOUNT DORA OFFICE
John S. Rice, C.P.A.
Patricia A. Sykes -Amos, C.P.A.
C. L. (Chip) Garner, C.P.A.
Dorothy A. Kurras, C.P.A.
John A. Powers, C.P.A.
Keire Rice Hosley, C.P.A.
David S. McDonald, C.P.A.
We have examined management's assertion, included in the accompanying Management Assertion
Report, that the City of Clermont, Florida complied with the allowable cost requirements established
in the grant agreements applicable to the State grants and aids appropriations identified on the
Schedule of State Financial Assistance during the fiscal year ended September 30, 2000.
Management is responsible for the City of Clermont, Florida's compliance with those requirements.
Our responsibility is to express an opinion on the City of Clermont, Florida's compliance based on
our examination.
Our examination was conducted in accordance with attestation standards established by the
American Institute of Certified Public Accountants and, accordingly, included examining, on a test
basis, evidence about the City of Clermont, Florida's compliance with those requirements and
performing such other procedures as we considered necessary in the circumstances. We believe that
our examination provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the City of Clermont, Florida's compliance with specified requirements.
In our opinion, the City of Clermont, Florida complied, in all material respects, with the
aforementioned requirements during the fiscal year ended September 30, 2000.
This report is intended solely for the information and use of management of the City of Clermont,
Florida, State granting agencies, and the State of Florida Office of the Auditor General, and is not
intended to be and should not be used by anyone other than these specified parties.
Mount Dora, Florida
January 30, 2001
MEMBER: FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS & AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
605 Montrose Street 627 N. Donnelly Street
P.O. Box 120400 • Clermont, FL 34712-0400 D-2 P.O. Box 8 • Mount Dora, FL 32756-0008
(352) 394-3256 • Fax (352) 394-6910 (352) 383-6300 • Fax (352) 383-6356
CITY OF CLERMONT
Office of the Finance Director
MANAGEMENT ASSERTION REPORT
1, Joseph VanZile, Finance Director, City of Clermont, Florida, hereby assert that the City of Clermont,
Florida complied with allowable cost requirements of the grants and aids appropriations identified on
the attached Schedule of State Financial Assistance during the fiscal year ended September 30, 2000.
C�L jc� January 30, 2001
seph E. V
Finance Director
City of Clermont, Florida
P.O. BOX 120219 • CLE NT, FLORIDA 34712-0219
PHONE: 352/394-4081 • FAX: 352/394-1452
CLERMONT OFFICE
GREENLEE
Herbert John Greenlee, Jr., C.P.A.
KUI
Jerry D. Brown, C.P.A.
<I <AS
`ICE
Suzanne M. Wolfe, C.P.A.
BROWN, PA
CERTIFIED PUBLIC
ACCOUNTANTS
INDEPENDENT AUDITOR'S REPORT
ON SCHEDULE OF STATE FINANCIAL ASSISTANCE
The Honorable Mayor and City Council
City of Clermont, Florida
MOUNT DORA OFFICE
John S. Rice, C.P.A.
Patricia A. Sykes -Amos, C.P.A.
C. L. (Chip) Garner, C.P.A.
Dorothy A. Kurras, C.P.A.
John A. Powers, C.P.A.
Keire Rice Hosley, C.P.A.
David S. McDonald, C.P.A.
We have audited the general purpose financial statements of the City of Clermont, Florida for the year ended
September 30, 2000, and have issued our report thereon dated January 30, 2001. These general purpose
financial statements are the responsibility of the City of Clermont, Florida's management. Our responsibility
is to express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted by the United States
of America and Government Auditing Standards, issued by the Comptroller General of the United
States. These standards require that we plan and perform the audit to obtain reasonable assurance about
whether the general purpose financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose
financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial
statements of the City of Clermont, Florida, taken as a whole. The accompanying schedule of State
Financial Assistance is presented for purposes of additional analysis and is not a required part of the
general purpose financial statements. The information in that schedule has been subjected to the auditing
procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly
presented in all material respects in relation to the general purpose financial statements taken as a whole.
Mount Dora, Florida
January 30, 2001
MEMBER: FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS & AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
605 Montrose Street D-4 627 N. Donnelly Street
P.O. Box 120400 • Clermont, FL 34712-0400 P.O. Box 8 • Mount Dora, FL 32756-0008
(352) 394-3256 • Fax (352) 394-6910 (352) 383-6300 • Fax (352) 383-6356
CITY OF CLERMONT, FLORIDA
SCHEDULE OF STATE FINANCIAL ASSISTANCE
FOR THE YEAR ENDED SEPTEMBER 30, 2000
REVENUE
STATE AGENCY/PROGRAM TITLE STATE NUMBER RECOGNIZED
Florida Department of Community Affairs:
DISBURSED
Community Planning 99-DR-1G-06-45-02-015 $ 6,000 $ 6,000
Police Department C.P.D.
Laptop Reporting 00-CJ-G3-0645-02-036 $ 7,508 $ 7,508
Florida Department of
Environmental Protection:
Hancock Park Project F20178 $ 100,000 $ 100,000
(Receivable
at 9/30/00)
D-5
CLERMONT OFFICE
Herbert John Greenlee, Jr., C.P.A.
Jerry D. Brown, C.P.A.
Suzanne M. Wolfe, C.P.A.
GREENLEE
KURRAS
RICE &
BROWN, PA
CERTIFIED PUBLIC
ACCOUNTANTS
MANAGEMENT LETTER
The Honorable Mayor and City Council
City of Clermont, Florida
MOUNT DORA OFFICE
John S. Rice, C.P.A.
Patricia A. Sykes Amos, C.P.A.
C. L. (Chip) Garner, C.P.A.
Dorothy A. Kurras, C.P.A.
John A. Powers, C.P.A.
Keire Rice Hosley, C.P.A.
David S. McDonald, C.P.A.
This report contains our comments as required by Chapter 10.554(1)(e), Rules of the Auditor General,
Local Governmental Entity Audits, for the City of Clermont, Florida, for the year ended September 30,
2000.
Subparagraph (1)(a) refers to whether inaccuracies, irregularities, or violations of laws, regulations or
contract provisions reported in the preceding annual financial audit have been corrected. There were no
such findings in the preceding annual financial audit.
Subparagraph (1)(b) refers to whether recommendations made in the preceding annual audit have been
followed. There were no recommendations offered in the prior audit.
Subparagraph (2) refers to the City's being in a state of financial emergency during the fiscal year. The
City did not experience any of the conditions described in Section 218.503(1) of Florida Statutes.
Subparagraph (3) refers to the agreement of the financial report filed with the Department of Banking
and Finance pursuant to Section 218.32, Florida Statutes with the annual financial audit report. For the
year ended September 30, 2000, the financial report was in agreement in all respects.
Subparagraph (4) refers to the City's investments. The City complied with Florida Statutes 218.415 in
its investing of public funds.
Subparagraph (6) refers to recommendations to improve the City's accounting procedures and internal
controls. We offer no recommendations in this area.
Subparagraph (7) refers to deteriorating financial conditions. The City did not experience any such
conditions and displays no deteriorating conditions which would cause near future financial problems.
Subparagraph (8) refers to illegal or improper expenditures discovered within the scope of the financial
audit as well as disclosure of improper or inadequate accounting procedures, failures to properly record
financial transactions, and other inaccuracies, irregularities, shortages, and defalcations discovered. Our
examination did not discover any of the above items which would require disclosure.
MEMBER: FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS & AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
605 Montrose Street D-6 627 N. Donnelly Street
P.O. Box 120400 • Clermont, FL 34712-0400 P.O. Box 8 • Mount Dora, FL 32756-0008
(352) 394-3256 • Fax (352) 394-6910 (352) 383-6300 • Fax (352) 383-6356
Subparagraph (9) requires disclosure of the official title and legal authority for the entity. The City of
Clermont was incorporated December 1916, under the laws of the State of Florida and operates under
the council-manager form of government under its charter adopted pursuant to H.B. 2223 Chapter 67-
1217, Special Acts 1967, of the State of Florida.
The foregoing conditions were considered in determining the nature, timing, and extent of the audit tests
to be applied in our examination of the City's financial statements, and this report does not affect our
report on these financial statements dated January 30, 2001.
This report is intended solely for the use of management and the State of Florida and should not be used
for any other purpose. This restriction is not intended to limit the distribution of this report which, upon
acceptance by the City of Clermont and the State of Florida, is a matter of public record.
'110 0.14.
Clermont, Florida
February 13, 2001
D-7
