[
  {
    "fiscal_year": 2011,
    "period_end": "2011-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2011.pdf",
    "auditor": "Parsons and Associates",
    "net_position": {
      "total_assets": 27610945,
      "deferred_outflows": 0,
      "total_liabilities": 3347256,
      "deferred_inflows": 0,
      "total_net_position": 24263689,
      "net_investment_in_capital_assets": 20511626,
      "restricted": 1939600,
      "unrestricted": 1812463,
      "cash_unrestricted": 2409689,
      "cash_restricted": 1106689,
      "capital_assets_net": 22770074
    },
    "general_fund": {
      "unassigned_fund_balance": 1812463,
      "total_fund_balance": 3127426,
      "revenues": 3839928,
      "expenditures": 3980756,
      "unassigned_pct_of_expenditures": 45.5,
      "unassigned_months_of_expenditures": 5.46
    },
    "revenues": {
      "total": 4101562,
      "property_tax": 1061905,
      "sales_tax_local_option": 838412,
      "sales_tax_state_shared": 548505,
      "sales_tax_total": 1386917,
      "program_revenues": {
        "charges_for_services": 469088,
        "operating_grants": 247922,
        "capital_grants": 128176,
        "total": 845186
      },
      "other_general_revenues": 807554,
      "total_general_revenues": 3256376
    },
    "expenses": {
      "total": 4403260,
      "by_function": [
        {
          "label": "General government",
          "amount": 1296429
        },
        {
          "label": "City court",
          "amount": 57326
        },
        {
          "label": "Codes",
          "amount": 151931
        },
        {
          "label": "Public safety",
          "amount": 1825711
        },
        {
          "label": "State Street Aid",
          "amount": 116425
        },
        {
          "label": "Streets and roads",
          "amount": 690856
        },
        {
          "label": "Parks",
          "amount": 245078
        },
        {
          "label": "Interest on long-term debt",
          "amount": 19504
        }
      ]
    },
    "change_in_net_position": -301698,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 2258448,
      "instruments": [
        {
          "label": "Tennessee Municipal Bond Pooled Fund ($2,000,000 Series 2001, Tennessee Pooled Loan Program)",
          "balance": 1505000
        },
        {
          "label": "Ferrara Custom Pump ($227,253 contract for purchase of Ferrara Custom Pumper)",
          "balance": 38940
        },
        {
          "label": "General Obligation Capital Outlay Note (Series 2011, $670,000)",
          "balance": 670000
        },
        {
          "label": "Lease Purchase (3) Vehicles",
          "balance": 44508
        }
      ],
      "unamortized_premium": 0,
      "compensated_absences": 66346,
      "net_pension_liability": 0,
      "net_pension_asset": 0,
      "opeb_liability": 0
    },
    "notes": {
      "headline": "Healthy reserves, new borrowing for streets",
      "audit": [
        "Net position slipped $301,698 to $24,263,689. Depreciation of $734,739 outran $391,335 of new capital purchases.",
        "The General Fund's unassigned balance was $1,812,463, about 46% of that year's General Fund spending.",
        "New borrowing: a $670,000 capital outlay note for street purposes and a $44,508 vehicle lease. Debt rose to $2,258,448.",
        "The auditor reported a material weakness: bank reconciliations were not prepared for several months."
      ],
      "context": [
        "The country was two years out of the 2007 to 2009 recession and unemployment was still near 9%.",
        "Middle Tennessee was still rebuilding after the May 2010 flood."
      ],
      "flags": [
        "Sales tax for this year combines three General Fund lines. The Statement of Activities shows only the $539,269 'Local sales tax - Trustee' line as 'Sales taxes'. Another $299,143 of local sales tax and $548,505 of state-shared sales tax are reported inside 'Intergovernmental revenues'."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2012,
    "period_end": "2012-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2012.pdf",
    "auditor": "Parsons and Associates",
    "net_position": {
      "total_assets": 26174756,
      "deferred_outflows": 0,
      "total_liabilities": 3554036,
      "deferred_inflows": 0,
      "total_net_position": 22620720,
      "net_investment_in_capital_assets": 20227632,
      "restricted": 1540334,
      "unrestricted": 852754,
      "cash_unrestricted": 1853762,
      "cash_restricted": 412271,
      "capital_assets_net": 22618693
    },
    "general_fund": {
      "unassigned_fund_balance": 852754,
      "total_fund_balance": 2134355,
      "revenues": 3969947,
      "expenditures": 5424453,
      "unassigned_pct_of_expenditures": 15.7,
      "unassigned_months_of_expenditures": 1.89
    },
    "revenues": {
      "total": 3921808,
      "property_tax": 988947,
      "sales_tax_local_option": 1118504,
      "sales_tax_state_shared": 523687,
      "sales_tax_total": 1642191,
      "program_revenues": {
        "charges_for_services": 349769,
        "operating_grants": 316296,
        "capital_grants": 0,
        "total": 666065
      },
      "other_general_revenues": 624605,
      "total_general_revenues": 3255743
    },
    "expenses": {
      "total": 5564775,
      "by_function": [
        {
          "label": "General government",
          "amount": 1475623
        },
        {
          "label": "Finance administration",
          "amount": 118062
        },
        {
          "label": "City court",
          "amount": 80796
        },
        {
          "label": "Codes",
          "amount": 162762
        },
        {
          "label": "Public safety",
          "amount": 2477731
        },
        {
          "label": "State Street Aid",
          "amount": 251584
        },
        {
          "label": "Streets and roads",
          "amount": 632925
        },
        {
          "label": "Parks",
          "amount": 311571
        },
        {
          "label": "Interest on long-term debt",
          "amount": 53721
        }
      ]
    },
    "change_in_net_position": -1642969,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 2391061,
      "instruments": [
        {
          "label": "Tennessee Municipal Bond Pooled Fund",
          "balance": 1435000
        },
        {
          "label": "General Obligation Capital Outlay Note",
          "balance": 616000
        },
        {
          "label": "Lease Purchase (3) Vehicles",
          "balance": 22876
        },
        {
          "label": "Spartan Fire Rescue Truck Lease/Purchase",
          "balance": 317185
        }
      ],
      "unamortized_premium": 0,
      "compensated_absences": 73148,
      "net_pension_liability": 0,
      "net_pension_asset": 0,
      "opeb_liability": 0
    },
    "notes": {
      "headline": "Spending outran revenue by $1.6 million",
      "audit": [
        "Net position fell $1,642,969. Expenses rose to $5,564,775 against $3,921,808 of revenue.",
        "General Fund spending was $5,424,453 against $3,969,947 of revenue. The unassigned balance fell by more than half, to $852,754.",
        "The year included $670,000 of paving and a $356,435 lease-purchase of a fire rescue truck. The prior year's $670,000 note had been issued for street purposes.",
        "Debt ended the year at $2,391,061."
      ],
      "context": [
        "The national recovery was slow. Standard & Poor's downgraded the U.S. credit rating in August 2011 and local governments across the country were still trimming budgets."
      ],
      "flags": [
        "The audit's own Statement of Activities does not foot: its general revenue lines add up to $51,139 more than the printed total of $3,255,743. The printed total is used here because it ties to the audited change in net position within $2.",
        "Sales tax combines $766,842 shown as 'Sales taxes' with $351,662 of local and $523,687 of state-shared sales tax reported inside 'Intergovernmental revenues'."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 2
    }
  },
  {
    "fiscal_year": 2013,
    "period_end": "2013-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2013.pdf",
    "auditor": "Patterson, Hardee & Ballentine, P.C.",
    "net_position": {
      "total_assets": 25278075,
      "deferred_outflows": 0,
      "total_liabilities": 3584522,
      "deferred_inflows": 0,
      "total_net_position": 21693553,
      "net_investment_in_capital_assets": 20002937,
      "restricted": 439411,
      "unrestricted": 1251205,
      "cash_unrestricted": 1598806,
      "cash_restricted": 0,
      "capital_assets_net": 22376408
    },
    "general_fund": {
      "unassigned_fund_balance": 463854,
      "total_fund_balance": 1491559,
      "revenues": 4264995,
      "expenditures": 5012791,
      "unassigned_pct_of_expenditures": 9.3,
      "unassigned_months_of_expenditures": 1.11
    },
    "revenues": {
      "total": 4503393,
      "property_tax": 1019357,
      "sales_tax_local_option": 1160018,
      "sales_tax_state_shared": 533621,
      "sales_tax_total": 1693639,
      "program_revenues": {
        "charges_for_services": 375322,
        "operating_grants": 223476,
        "capital_grants": 0,
        "total": 598798
      },
      "other_general_revenues": 1191599,
      "total_general_revenues": 3904595
    },
    "expenses": {
      "total": 5554782,
      "by_function": [
        {
          "label": "General government",
          "amount": 1431095
        },
        {
          "label": "Finance administration",
          "amount": 167024
        },
        {
          "label": "City court",
          "amount": 103555
        },
        {
          "label": "Codes",
          "amount": 190287
        },
        {
          "label": "Police department",
          "amount": 1324406
        },
        {
          "label": "Fire department",
          "amount": 741402
        },
        {
          "label": "Public health",
          "amount": 15000
        },
        {
          "label": "Traffic",
          "amount": 92314
        },
        {
          "label": "Fleet maintenance",
          "amount": 246803
        },
        {
          "label": "State street aid",
          "amount": 408969
        },
        {
          "label": "Streets and roads",
          "amount": 526492
        },
        {
          "label": "Parks",
          "amount": 247061
        },
        {
          "label": "Interest on long-term debt",
          "amount": 60374
        }
      ]
    },
    "change_in_net_position": -1051389,
    "restatement_of_opening_net_position": 124222,
    "long_term_debt": {
      "principal_outstanding": 2373471,
      "instruments": [
        {
          "label": "General Obligation Debt: $2,000,000 Tennessee Pooled Loan Program Series 2001, issued for City Hall",
          "balance": 1362000
        },
        {
          "label": "General Obligation Debt: $670,000 General Obligation Capital Outlay Note, Series 2011, issued for highway and street purposes",
          "balance": 558000
        },
        {
          "label": "General Obligation Debt: $178,726 General obligation loan agreement for fire tanker",
          "balance": 178726
        },
        {
          "label": "Capital Lease Obligation: $365,645 Lease/purchase agreement for Spartan Rescue Truck",
          "balance": 274745
        }
      ],
      "unamortized_premium": 0,
      "compensated_absences": 141082,
      "net_pension_liability": 0,
      "net_pension_asset": 0,
      "opeb_liability": 0
    },
    "notes": {
      "headline": "Reserves down to 9% of spending",
      "audit": [
        "Net position fell another $1,051,389. General Fund spending exceeded revenue by $747,796.",
        "The unassigned General Fund balance dropped to $463,854, which the audit puts at 9% of General Fund spending.",
        "The City borrowed $178,726 for a fire tanker. Total debt was nearly flat at $2,373,471.",
        "A prior-period correction to vehicle records added $124,222 to opening net position. The auditor reported two significant deficiencies."
      ],
      "context": [
        "Federal sequestration cuts began in March 2013.",
        "The housing market was starting to recover after five weak years."
      ],
      "flags": [
        "State-shared sales tax of $533,621 is reported inside 'Intergovernmental revenues' on the Statement of Activities. It is shown here as sales tax."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2014,
    "period_end": "2014-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2014.pdf",
    "auditor": "Patterson, Hardee & Ballentine, P.C.",
    "net_position": {
      "total_assets": 24986685,
      "deferred_outflows": 0,
      "total_liabilities": 3473362,
      "deferred_inflows": 1087000,
      "total_net_position": 20426323,
      "net_investment_in_capital_assets": 19457186,
      "restricted": 362676,
      "unrestricted": 606461,
      "cash_unrestricted": 857828,
      "cash_restricted": 0,
      "capital_assets_net": 22728508
    },
    "general_fund": {
      "unassigned_fund_balance": -168435,
      "total_fund_balance": 711191,
      "revenues": 4592299,
      "expenditures": 5376548,
      "unassigned_pct_of_expenditures": -3.1,
      "unassigned_months_of_expenditures": -0.38
    },
    "revenues": {
      "total": 4670865,
      "property_tax": 1037993,
      "sales_tax_local_option": 1365200,
      "sales_tax_state_shared": 551563,
      "sales_tax_total": 1916763,
      "program_revenues": {
        "charges_for_services": 444839,
        "operating_grants": 415948,
        "capital_grants": 0,
        "total": 860787
      },
      "other_general_revenues": 855322,
      "total_general_revenues": 3810078
    },
    "expenses": {
      "total": 5938095,
      "by_function": [
        {
          "label": "General government",
          "amount": 2470961
        },
        {
          "label": "Finance administration",
          "amount": 153396
        },
        {
          "label": "City court",
          "amount": 109381
        },
        {
          "label": "Codes",
          "amount": 184732
        },
        {
          "label": "Police department",
          "amount": 1249554
        },
        {
          "label": "Fire department",
          "amount": 813738
        },
        {
          "label": "Public health",
          "amount": 15000
        },
        {
          "label": "Traffic",
          "amount": 91016
        },
        {
          "label": "Fleet maintenance",
          "amount": 239625
        },
        {
          "label": "State street aid",
          "amount": 238315
        },
        {
          "label": "Streets and roads",
          "amount": 50828
        },
        {
          "label": "Parks",
          "amount": 265819
        },
        {
          "label": "Interest on long-term debt",
          "amount": 55730
        }
      ]
    },
    "change_in_net_position": -1267230,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 3271322,
      "instruments": [
        {
          "label": "General Obligation Debt: $2,000,000 Tennessee Pooled Loan Program Series 2001 (City Hall)",
          "balance": 1285000
        },
        {
          "label": "General Obligation Debt: $670,000 General Obligation Capital Outlay Note, Series 2011 (highway and street purposes)",
          "balance": 497000
        },
        {
          "label": "General Obligation Debt: $178,726 General obligation loan agreement for fire tanker",
          "balance": 134045
        },
        {
          "label": "Capital Lease Obligation: $365,645 Lease/purchase agreement for Spartan Rescue Truck",
          "balance": 231298
        },
        {
          "label": "Capital Lease Obligation: $618,959 Lease/purchase agreement for Fire Truck",
          "balance": 618959
        },
        {
          "label": "Capital Lease Obligation: $505,020 Lease/90% test for Police SUVs",
          "balance": 505020
        }
      ],
      "unamortized_premium": 0,
      "compensated_absences": 89753,
      "net_pension_liability": 0,
      "net_pension_asset": 0,
      "opeb_liability": 0
    },
    "notes": {
      "headline": "Unassigned balance turns negative",
      "audit": [
        "The unassigned General Fund balance went negative, to $(168,435). Money restricted or committed to specific purposes was more than the fund's total balance of $711,191.",
        "Local sales tax came in at $1,365,200, which was $299,124 under budget. The audit also found General Fund spending above appropriations.",
        "Two new capital leases added $1,123,979 of debt: a fire truck ($618,959) and twelve police SUVs ($505,020). Debt rose to $3,271,322.",
        "Net position fell $1,267,230."
      ],
      "context": [
        "The national recovery was in its fifth year, but many small cities had not regained their pre-recession revenue.",
        "New accounting rules (GASB 63 and 65) moved next year's property tax levy out of liabilities into a new line, deferred inflows."
      ],
      "flags": [
        "State-shared sales tax of $551,563 is reported inside 'Intergovernmental revenues' on the Statement of Activities. It is shown here as sales tax."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2015,
    "period_end": "2015-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2015.pdf",
    "auditor": "Patterson, Hardee & Ballentine, P.C.",
    "net_position": {
      "total_assets": 24900192,
      "deferred_outflows": 176148,
      "total_liabilities": 3300347,
      "deferred_inflows": 1990954,
      "total_net_position": 19785039,
      "net_investment_in_capital_assets": 19025210,
      "restricted": 344224,
      "unrestricted": 415605,
      "cash_unrestricted": 601939,
      "cash_restricted": 0,
      "capital_assets_net": 21849969
    },
    "general_fund": {
      "unassigned_fund_balance": -728325,
      "total_fund_balance": 368042,
      "revenues": 5176242,
      "expenditures": 5519391,
      "unassigned_pct_of_expenditures": -13.2,
      "unassigned_months_of_expenditures": -1.58
    },
    "revenues": {
      "total": 5301989,
      "property_tax": 1076809,
      "sales_tax_local_option": 1720005,
      "sales_tax_state_shared": 584687,
      "sales_tax_total": 2304692,
      "program_revenues": {
        "charges_for_services": 334615,
        "operating_grants": 413252,
        "capital_grants": 0,
        "total": 747867
      },
      "other_general_revenues": 1172621,
      "total_general_revenues": 4554122
    },
    "expenses": {
      "total": 6095181,
      "by_function": [
        {
          "label": "General government",
          "amount": 2410446
        },
        {
          "label": "Finance administration",
          "amount": 153059
        },
        {
          "label": "City court",
          "amount": 104414
        },
        {
          "label": "Codes",
          "amount": 190449
        },
        {
          "label": "Police department",
          "amount": 1432559
        },
        {
          "label": "Fire department",
          "amount": 852615
        },
        {
          "label": "Public health",
          "amount": 15000
        },
        {
          "label": "Fleet maintenance",
          "amount": 200374
        },
        {
          "label": "State street aid",
          "amount": 52201
        },
        {
          "label": "Streets and roads",
          "amount": 230937
        },
        {
          "label": "Parks",
          "amount": 263103
        },
        {
          "label": "Pension expense",
          "amount": 110598
        },
        {
          "label": "Interest on long-term debt",
          "amount": 79426
        }
      ]
    },
    "change_in_net_position": -793192,
    "restatement_of_opening_net_position": 151908,
    "long_term_debt": {
      "principal_outstanding": 2824759,
      "instruments": [
        {
          "label": "General obligation debt: $2,000,000 Tennessee Pooled Loan Program Series 2001 (City Hall)",
          "balance": 1204000
        },
        {
          "label": "General obligation debt: $670,000 General Obligation Capital Outlay Note, Series 2011 (highway and street purposes)",
          "balance": 434000
        },
        {
          "label": "General obligation debt: $178,726 General obligation loan agreement for fire tanker",
          "balance": 89363
        },
        {
          "label": "Capital lease obligation: $365,645 Lease/purchase agreement for Spartan Rescue Truck",
          "balance": 187851
        },
        {
          "label": "Capital lease obligation: $618,959 Lease/purchase agreement for Fire Truck",
          "balance": 500738
        },
        {
          "label": "Capital lease obligation: $505,020 Lease/90% test for Police SUVs",
          "balance": 408807
        }
      ],
      "unamortized_premium": 0,
      "compensated_absences": 164294,
      "net_pension_liability": 0,
      "net_pension_asset": 325628,
      "opeb_liability": 0
    },
    "notes": {
      "headline": "The low point: a going-concern warning",
      "audit": [
        "The unassigned General Fund balance fell to $(728,325). The whole General Fund balance was $368,042, or 6.7% of a year's spending.",
        "The auditor added a going-concern paragraph, saying the City 'has suffered deficit fund balances and slow recovery in revenue'.",
        "No new debt was issued during the year. After year end the City took a $403,811 tax anticipation note in July 2015 and issued $2,980,000 of bonds in August 2015 under a debt restructure plan. The 2015/2016 budget included a 36.5-cent property tax increase.",
        "Pension accounting changed (GASB 68). The City's plan showed a net pension asset of $325,628."
      ],
      "context": [
        "GASB 68 put pension funding on government balance sheets nationwide for the first time.",
        "The Nashville region was growing quickly. Fairview's local sales tax rose 26% in one year."
      ],
      "flags": [
        "State-shared sales tax of $584,687 is reported inside 'Intergovernmental revenues' on the Statement of Activities. It is shown here as sales tax."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2016,
    "period_end": "2016-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2016.pdf",
    "auditor": "Yeary, Howell & Associates",
    "net_position": {
      "total_assets": 25639175,
      "deferred_outflows": 171329,
      "total_liabilities": 3247128,
      "deferred_inflows": 1882780,
      "total_net_position": 20680596,
      "net_investment_in_capital_assets": 18023069,
      "restricted": 704545,
      "unrestricted": 1952982,
      "cash_unrestricted": 1996636,
      "cash_restricted": 0,
      "capital_assets_net": 20992484
    },
    "general_fund": {
      "unassigned_fund_balance": 1020668,
      "total_fund_balance": 2289353,
      "revenues": 6183197,
      "expenditures": 8246968,
      "unassigned_pct_of_expenditures": 12.4,
      "unassigned_months_of_expenditures": 1.49
    },
    "revenues": {
      "total": 6325946,
      "property_tax": 1759763,
      "sales_tax_local_option": 1891068,
      "sales_tax_state_shared": 618611,
      "sales_tax_total": 2509679,
      "program_revenues": {
        "charges_for_services": 331705,
        "operating_grants": 442547,
        "capital_grants": 472688,
        "total": 1246940
      },
      "other_general_revenues": 809564,
      "total_general_revenues": 5079006
    },
    "expenses": {
      "total": 5639162,
      "by_function": [
        {
          "label": "General government",
          "amount": 1400874
        },
        {
          "label": "Public safety",
          "amount": 2577771
        },
        {
          "label": "Streets",
          "amount": 573964
        },
        {
          "label": "State Street Aid",
          "amount": 217567
        },
        {
          "label": "Financial Administration",
          "amount": 164655
        },
        {
          "label": "Parks and recreation",
          "amount": 255172
        },
        {
          "label": "Codes Administration",
          "amount": 114331
        },
        {
          "label": "City Court",
          "amount": 117944
        },
        {
          "label": "Miscellaneous",
          "amount": 129754
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 87129
        }
      ]
    },
    "change_in_net_position": 686785,
    "restatement_of_opening_net_position": 208772,
    "long_term_debt": {
      "principal_outstanding": 2935000,
      "instruments": [
        {
          "label": "General Obligation Refunding Bonds, Series 2015",
          "balance": 2935000
        }
      ],
      "unamortized_premium": 34415,
      "compensated_absences": 114617,
      "net_pension_liability": 0,
      "net_pension_asset": 263969,
      "opeb_liability": 4058
    },
    "notes": {
      "headline": "Turnaround: tax increase and debt restructuring",
      "audit": [
        "The unassigned General Fund balance swung back to $1,020,668 and the total General Fund balance reached $2,289,353.",
        "The property tax rate went to $1.00 per $100 of assessed value. Property tax revenue rose $682,954 to $1,759,763.",
        "The City issued $2,935,000 of Series 2015 refunding bonds, which paid off the 2001 pooled loan, two capital outlay notes and three equipment leases.",
        "Capital grants and contributions were $472,688, against none the year before. Net position rose $686,785.",
        "The auditor reported a material weakness: a bank account that was not on the books."
      ],
      "context": [
        "In December 2015 the Federal Reserve raised interest rates for the first time since 2006.",
        "Growth in Middle Tennessee kept lifting local sales tax."
      ],
      "flags": [
        "General Fund spending of $8,246,968 includes $3,642,729 of debt service, bond issue costs and repaid anticipation notes tied to the debt restructuring, so the reserve ratio for this year looks lower than it was in practice.",
        "Total liabilities are printed as $3,247,128 in one column and $3,247,129 in the other. The figure that balances, $3,247,128, is used.",
        "Opening net position was restated by +$208,772 when the City began accruing local sales tax."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": -1
    }
  },
  {
    "fiscal_year": 2017,
    "period_end": "2017-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2017.pdf",
    "auditor": "Yeary, Howell & Associates",
    "net_position": {
      "total_assets": 25634589,
      "deferred_outflows": 369686,
      "total_liabilities": 3129285,
      "deferred_inflows": 1842341,
      "total_net_position": 21032649,
      "net_investment_in_capital_assets": 17347483,
      "restricted": 719906,
      "unrestricted": 2965260,
      "cash_unrestricted": 3096531,
      "cash_restricted": 0,
      "capital_assets_net": 20131982
    },
    "general_fund": {
      "unassigned_fund_balance": 1043678,
      "total_fund_balance": 3202149,
      "revenues": 6191582,
      "expenditures": 5278788,
      "unassigned_pct_of_expenditures": 19.8,
      "unassigned_months_of_expenditures": 2.37
    },
    "revenues": {
      "total": 6484369,
      "property_tax": 1779667,
      "sales_tax_local_option": 2022778,
      "sales_tax_state_shared": 667851,
      "sales_tax_total": 2690629,
      "program_revenues": {
        "charges_for_services": 413323,
        "operating_grants": 278995,
        "capital_grants": 171478,
        "total": 863796
      },
      "other_general_revenues": 1150277,
      "total_general_revenues": 5620573
    },
    "expenses": {
      "total": 6132316,
      "by_function": [
        {
          "label": "General government",
          "amount": 1735376
        },
        {
          "label": "Public safety",
          "amount": 2727015
        },
        {
          "label": "Streets",
          "amount": 661484
        },
        {
          "label": "State Street Aid",
          "amount": 70551
        },
        {
          "label": "Financial Administration",
          "amount": 172178
        },
        {
          "label": "Parks and recreation",
          "amount": 312258
        },
        {
          "label": "Codes Administration",
          "amount": 233699
        },
        {
          "label": "City Court",
          "amount": 124176
        },
        {
          "label": "Miscellaneous",
          "amount": 24859
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 70720
        }
      ]
    },
    "change_in_net_position": 352053,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 2755000,
      "instruments": [
        {
          "label": "General Obligation Bonds, Series 2015",
          "balance": 2755000
        }
      ],
      "unamortized_premium": 29498,
      "compensated_absences": 133601,
      "net_pension_liability": 15757,
      "net_pension_asset": 0,
      "opeb_liability": 7725
    },
    "notes": {
      "headline": "Reserves rebuilt, no new debt",
      "audit": [
        "Net position rose $352,053. The General Fund balance reached $3,202,149.",
        "The unassigned balance was $1,043,678 after $732,975 was set aside to balance the next year's budget.",
        "No new debt. $180,000 of bonds was repaid, leaving $2,755,000 outstanding.",
        "Only $179,664 of new capital assets was added against $1,040,166 of depreciation."
      ],
      "context": [
        "Tennessee's IMPROVE Act was signed in April 2017, raising fuel taxes for road work starting that July."
      ],
      "flags": []
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2018,
    "period_end": "2018-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2018.pdf",
    "auditor": "Yeary, Howell & Associates",
    "net_position": {
      "total_assets": 24327369,
      "deferred_outflows": 450478,
      "total_liabilities": 3281837,
      "deferred_inflows": 1882318,
      "total_net_position": 19613692,
      "net_investment_in_capital_assets": 16780137,
      "restricted": 634234,
      "unrestricted": 2199321,
      "cash_unrestricted": 2567444,
      "cash_restricted": 0,
      "capital_assets_net": 19374719
    },
    "general_fund": {
      "unassigned_fund_balance": 1093699,
      "total_fund_balance": 2221608,
      "revenues": 5981789,
      "expenditures": 6491418,
      "unassigned_pct_of_expenditures": 16.8,
      "unassigned_months_of_expenditures": 2.02
    },
    "revenues": {
      "total": 6439319,
      "property_tax": 1842875,
      "sales_tax_local_option": 2040766,
      "sales_tax_state_shared": 680896,
      "sales_tax_total": 2721662,
      "program_revenues": {
        "charges_for_services": 575566,
        "operating_grants": 52323,
        "capital_grants": 166604,
        "total": 794493
      },
      "other_general_revenues": 1080289,
      "total_general_revenues": 5644826
    },
    "expenses": {
      "total": 7759303,
      "by_function": [
        {
          "label": "General government",
          "amount": 2096315
        },
        {
          "label": "Public safety",
          "amount": 3484039
        },
        {
          "label": "Public Works",
          "amount": 1257122
        },
        {
          "label": "Board of Commissioners",
          "amount": 92061
        },
        {
          "label": "Financial Administration",
          "amount": 194184
        },
        {
          "label": "Parks and recreation",
          "amount": -8144
        },
        {
          "label": "Planning and Zoning",
          "amount": 413169
        },
        {
          "label": "City Court",
          "amount": 166542
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 64015
        }
      ]
    },
    "change_in_net_position": -1319983,
    "restatement_of_opening_net_position": -98974,
    "long_term_debt": {
      "principal_outstanding": 2570000,
      "instruments": [
        {
          "label": "General Obligation Bonds, Series 2015",
          "balance": 2570000
        }
      ],
      "unamortized_premium": 24583,
      "compensated_absences": 270162,
      "net_pension_liability": 85974,
      "net_pension_asset": 0,
      "opeb_liability": 41475
    },
    "notes": {
      "headline": "Costs up 27%, reserves drawn down",
      "audit": [
        "Net position fell $1,319,983 as expenses rose about 27% to $7,759,303. The audit attributes the increase to higher operating costs in all departments.",
        "General Fund spending rose $1,212,630, which the audit attributes to police, fire and streets. The fund balance fell $918,186 from its restated opening balance, to $2,221,608.",
        "No new debt. $2,570,000 of bonds remained outstanding.",
        "New accounting for retiree health benefits (GASB 75) and a payables correction reduced opening net position by $98,974."
      ],
      "context": [
        "The Tax Cuts and Jobs Act became law in December 2017.",
        "In June 2018 the U.S. Supreme Court's Wayfair decision cleared the way for states to tax online sales."
      ],
      "flags": []
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": -1
    }
  },
  {
    "fiscal_year": 2019,
    "period_end": "2019-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2019.pdf",
    "auditor": "Yeary, Howell & Associates",
    "net_position": {
      "total_assets": 24890729,
      "deferred_outflows": 655938,
      "total_liabilities": 4038949,
      "deferred_inflows": 2029647,
      "total_net_position": 19478072,
      "net_investment_in_capital_assets": 16560408,
      "restricted": 473143,
      "unrestricted": 2444521,
      "cash_unrestricted": 2467264,
      "cash_restricted": 0,
      "capital_assets_net": 19877183
    },
    "general_fund": {
      "unassigned_fund_balance": 1429164,
      "total_fund_balance": 2424410,
      "revenues": 5804303,
      "expenditures": 6518610,
      "unassigned_pct_of_expenditures": 21.9,
      "unassigned_months_of_expenditures": 2.63
    },
    "revenues": {
      "total": 6749631,
      "property_tax": 1930323,
      "sales_tax_local_option": 1952242,
      "sales_tax_state_shared": 704974,
      "sales_tax_total": 2657216,
      "program_revenues": {
        "charges_for_services": 1190572,
        "operating_grants": 59838,
        "capital_grants": 12286,
        "total": 1262696
      },
      "other_general_revenues": 899396,
      "total_general_revenues": 5486935
    },
    "expenses": {
      "total": 6885252,
      "by_function": [
        {
          "label": "General government",
          "amount": 1304070
        },
        {
          "label": "Public safety",
          "amount": 3697091
        },
        {
          "label": "Public Works",
          "amount": 1124820
        },
        {
          "label": "Board of Commissioners",
          "amount": 66905
        },
        {
          "label": "Financial Administration",
          "amount": 127614
        },
        {
          "label": "Parks and recreation",
          "amount": 1698
        },
        {
          "label": "Planning and Zoning",
          "amount": 316795
        },
        {
          "label": "City Court",
          "amount": 171996
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 74262
        }
      ]
    },
    "change_in_net_position": -135620,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 3297111,
      "instruments": [
        {
          "label": "General Obligation Bonds, Series 2015",
          "balance": 2380000
        },
        {
          "label": "Capital Outlay Note",
          "balance": 427251
        },
        {
          "label": "Lease Purchase Obligation",
          "balance": 489860
        }
      ],
      "unamortized_premium": 19664,
      "compensated_absences": 281057,
      "net_pension_liability": 219688,
      "net_pension_asset": 0,
      "opeb_liability": 38495
    },
    "notes": {
      "headline": "$917,111 of new borrowing",
      "audit": [
        "The City borrowed $917,111: a $427,251 capital outlay note and a $489,860 lease-purchase. Equipment additions that year were $1,402,911. Debt rose to $3,297,111.",
        "Charges for services rose to $1,190,572 from $575,566.",
        "The unassigned General Fund balance grew to $1,429,164. Net position slipped $135,620."
      ],
      "context": [
        "The U.S. economic expansion was about to become the longest on record."
      ],
      "flags": []
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": -1,
      "revenues_minus_expenses_minus_change_in_net_position": -1
    }
  },
  {
    "fiscal_year": 2020,
    "period_end": "2020-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2020.pdf",
    "auditor": "Yeary, Howell & Associates",
    "net_position": {
      "total_assets": 25388639,
      "deferred_outflows": 649198,
      "total_liabilities": 4148184,
      "deferred_inflows": 2075448,
      "total_net_position": 19814205,
      "net_investment_in_capital_assets": 16305026,
      "restricted": 514222,
      "unrestricted": 2994957,
      "cash_unrestricted": 3073311,
      "cash_restricted": 0,
      "capital_assets_net": 19635420
    },
    "general_fund": {
      "unassigned_fund_balance": 1855577,
      "total_fund_balance": 3019471,
      "revenues": 6522739,
      "expenditures": 6297714,
      "unassigned_pct_of_expenditures": 29.5,
      "unassigned_months_of_expenditures": 3.54
    },
    "revenues": {
      "total": 7166509,
      "property_tax": 1993010,
      "sales_tax_local_option": 2169115,
      "sales_tax_state_shared": 729427,
      "sales_tax_total": 2898542,
      "program_revenues": {
        "charges_for_services": 1012708,
        "operating_grants": 60690,
        "capital_grants": 21692,
        "total": 1095090
      },
      "other_general_revenues": 1179867,
      "total_general_revenues": 6071419
    },
    "expenses": {
      "total": 6830376,
      "by_function": [
        {
          "label": "General government",
          "amount": 1784337
        },
        {
          "label": "Public safety",
          "amount": 3467798
        },
        {
          "label": "Public Works",
          "amount": 974658
        },
        {
          "label": "Board of Commissioners",
          "amount": 29777
        },
        {
          "label": "Financial Administration",
          "amount": 119353
        },
        {
          "label": "Parks and recreation",
          "amount": -39302
        },
        {
          "label": "Planning and Zoning",
          "amount": 257169
        },
        {
          "label": "City Court",
          "amount": 152447
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 84138
        }
      ]
    },
    "change_in_net_position": 336133,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 3315646,
      "instruments": [
        {
          "label": "General Obligation Bonds-Series 2015 (2-3%)",
          "balance": 2185000
        },
        {
          "label": "Capital Outlay Note (2.95%)",
          "balance": 389896
        },
        {
          "label": "Capital Outlay Note (2.6%)",
          "balance": 375000
        },
        {
          "label": "Lease Purchase Note Payable (4.17%)",
          "balance": 365750
        }
      ],
      "unamortized_premium": 14748,
      "compensated_absences": 289571,
      "net_pension_liability": 206843,
      "net_pension_asset": 0,
      "opeb_liability": 48108
    },
    "notes": {
      "headline": "A steady year: reserve reaches $1.86 million",
      "audit": [
        "Net position rose $336,133. The General Fund balance reached $3,019,471, about 48% of a year's spending, with $1,855,577 unassigned.",
        "A $375,000 capital outlay note was issued in April 2020. Debt ended at $3,315,646.",
        "The budget counted on $1,012,250 of federal and state grants and $21,692 arrived. Public works capital spending was budgeted at $1,027,450 and came in at $17,529.",
        "The audit does not mention any pandemic effect on the City's finances."
      ],
      "context": [
        "COVID-19 shut down much of the economy from March 2020 and Congress passed the CARES Act.",
        "A tornado outbreak struck Middle Tennessee on March 3, 2020.",
        "From October 2019 Tennessee required more out-of-state online sellers to collect sales tax."
      ],
      "flags": []
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2021,
    "period_end": "2021-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2021.pdf",
    "auditor": "Blankenship CPA Group, PLLC",
    "net_position": {
      "total_assets": 23443740,
      "deferred_outflows": 799943,
      "total_liabilities": 4051386,
      "deferred_inflows": 2059329,
      "total_net_position": 18132968,
      "net_investment_in_capital_assets": 13458868,
      "restricted": 207450,
      "unrestricted": 4466650,
      "cash_unrestricted": 4228221,
      "cash_restricted": 0,
      "capital_assets_net": 16400677
    },
    "general_fund": {
      "unassigned_fund_balance": 3748572,
      "total_fund_balance": 4532116,
      "revenues": 7978636,
      "expenditures": 6723486,
      "unassigned_pct_of_expenditures": 55.8,
      "unassigned_months_of_expenditures": 6.69
    },
    "revenues": {
      "total": 8207727,
      "property_tax": 2073208,
      "sales_tax_local_option": 2511729,
      "sales_tax_state_shared": 844043,
      "sales_tax_total": 3355772,
      "program_revenues": {
        "charges_for_services": 887477,
        "operating_grants": 277928,
        "capital_grants": 378635,
        "total": 1544040
      },
      "other_general_revenues": 1234707,
      "total_general_revenues": 6663687
    },
    "expenses": {
      "total": 8075771,
      "by_function": [
        {
          "label": "General government",
          "amount": 1660717
        },
        {
          "label": "Public safety",
          "amount": 5092050
        },
        {
          "label": "Public works",
          "amount": 531503
        },
        {
          "label": "Board of Commissioners",
          "amount": 44600
        },
        {
          "label": "Financial administration",
          "amount": 123647
        },
        {
          "label": "Parks and recreation",
          "amount": 1698
        },
        {
          "label": "Planning and zoning",
          "amount": 346528
        },
        {
          "label": "City court",
          "amount": 191743
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 83285
        }
      ]
    },
    "change_in_net_position": 131956,
    "restatement_of_opening_net_position": -1813193,
    "long_term_debt": {
      "principal_outstanding": 2931978,
      "instruments": [
        {
          "label": "General obligation Series 2015, 2-3% interest rate",
          "balance": 1990000
        },
        {
          "label": "Capital outlay note, 2.95% interest rate",
          "balance": 351439
        },
        {
          "label": "Capital outlay note, 2.6% interest rate",
          "balance": 341760
        },
        {
          "label": "Lease purchase note payable, 4.17% interest rate",
          "balance": 248779
        }
      ],
      "unamortized_premium": 9831,
      "compensated_absences": 303612,
      "net_pension_liability": 481592,
      "net_pension_asset": 0,
      "opeb_liability": 48940
    },
    "notes": {
      "headline": "The reserve doubles in a year",
      "audit": [
        "The unassigned General Fund balance doubled to $3,748,572, about 56% of General Fund spending.",
        "General Fund revenue rose $1,455,897. Local sales tax alone was up 16%.",
        "Grant spending included $134,985 of CARES Act relief funds and a $228,594 state support grant. No new debt was issued.",
        "A $1,813,193 correction to capital asset and depreciation records reduced reported net position. It is a bookkeeping correction, not cash."
      ],
      "context": [
        "Federal stimulus payments and a surge in online shopping lifted sales tax collections across Tennessee.",
        "Tennessee's marketplace facilitator law took effect in October 2020, bringing more online sales into the tax base.",
        "The American Rescue Plan Act was signed in March 2021."
      ],
      "flags": [
        "Reported net position falls even though the year ran a $131,956 surplus, because of the $1,813,193 prior-period correction to capital assets."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2022,
    "period_end": "2022-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2022.pdf",
    "auditor": "Blankenship CPA Group, PLLC",
    "net_position": {
      "total_assets": 35822217,
      "deferred_outflows": 1666753,
      "total_liabilities": 14588547,
      "deferred_inflows": 3984780,
      "total_net_position": 18915643,
      "net_investment_in_capital_assets": 12073385,
      "restricted": 412235,
      "unrestricted": 6430023,
      "cash_unrestricted": 7392256,
      "cash_restricted": 9195141,
      "capital_assets_net": 15304464
    },
    "general_fund": {
      "unassigned_fund_balance": 5554098,
      "total_fund_balance": 15918659,
      "revenues": 9831805,
      "expenditures": 8440821,
      "unassigned_pct_of_expenditures": 65.8,
      "unassigned_months_of_expenditures": 7.9
    },
    "revenues": {
      "total": 9975674,
      "property_tax": 2899597,
      "sales_tax_local_option": 3075610,
      "sales_tax_state_shared": 1060051,
      "sales_tax_total": 4135661,
      "program_revenues": {
        "charges_for_services": 1147799,
        "operating_grants": 262262,
        "capital_grants": 249342,
        "total": 1659403
      },
      "other_general_revenues": 1281013,
      "total_general_revenues": 8316271
    },
    "expenses": {
      "total": 9193603,
      "by_function": [
        {
          "label": "General government",
          "amount": 3392685
        },
        {
          "label": "Public safety",
          "amount": 3984612
        },
        {
          "label": "Public works",
          "amount": 317372
        },
        {
          "label": "Board of Commissioners",
          "amount": 60393
        },
        {
          "label": "Financial administration",
          "amount": 136799
        },
        {
          "label": "Parks and recreation",
          "amount": 206716
        },
        {
          "label": "Engineering",
          "amount": 258907
        },
        {
          "label": "Planning and zoning",
          "amount": 288237
        },
        {
          "label": "City court",
          "amount": 190517
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 357365
        }
      ]
    },
    "change_in_net_position": 782071,
    "restatement_of_opening_net_position": 604,
    "long_term_debt": {
      "principal_outstanding": 12189378,
      "instruments": [
        {
          "label": "General obligation refunding bonds, Series 2021A 1.45% interest rate",
          "balance": 1814000
        },
        {
          "label": "General obligation bonds, Series 2021B, 2-3% interest rate",
          "balance": 9595000
        },
        {
          "label": "Capital outlay note, 2.95% interest rate",
          "balance": 311847
        },
        {
          "label": "Capital outlay note, 2.60% interest rate",
          "balance": 307639
        },
        {
          "label": "Lease purchase note payable, 4.17% interest rate",
          "balance": 126930
        },
        {
          "label": "Lease liabilities",
          "balance": 33962
        }
      ],
      "unamortized_premium": 265246,
      "compensated_absences": 358112,
      "net_pension_liability": 98815,
      "net_pension_asset": 0,
      "opeb_liability": 47001
    },
    "notes": {
      "headline": "$9.7 million bond issue",
      "audit": [
        "The City issued $9,695,000 of Series 2021B bonds for land, roads, facilities and drainage, plus $2,025,000 of refunding bonds. Debt rose from $2,931,978 to $12,189,378, which includes $33,962 of leases counted for the first time under a new accounting rule.",
        "Total assets jumped to $35,822,217. Of the cash, $9,195,141 was restricted for capital projects at year end.",
        "Property tax revenue rose $826,389 with the rate unchanged at $0.8765, and local sales tax rose 22%.",
        "$1,260,496 of American Rescue Plan money was on hand and not yet spent. The unassigned General Fund balance reached $5,554,098."
      ],
      "context": [
        "Inflation peaked at 9.1% in June 2022 and the Federal Reserve began raising rates in March 2022.",
        "American Rescue Plan money was flowing to every city in the country."
      ],
      "flags": [
        "The audit's debt note misprints the lease balance by $810 and an additions total by $500. The balances used here are the ones that agree with the Statement of Net Position."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2023,
    "period_end": "2023-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2023.pdf",
    "auditor": "Blankenship CPA Group, PLLC",
    "net_position": {
      "total_assets": 37348177,
      "deferred_outflows": 2041681,
      "total_liabilities": 16303859,
      "deferred_inflows": 3186511,
      "total_net_position": 19899488,
      "net_investment_in_capital_assets": 12421604,
      "restricted": 505253,
      "unrestricted": 6972631,
      "cash_unrestricted": 9036859,
      "cash_restricted": 8488420,
      "capital_assets_net": 15696957
    },
    "general_fund": {
      "unassigned_fund_balance": 5558598,
      "total_fund_balance": 15575652,
      "revenues": 9853759,
      "expenditures": 10196766,
      "unassigned_pct_of_expenditures": 54.5,
      "unassigned_months_of_expenditures": 6.54
    },
    "revenues": {
      "total": 10356156,
      "property_tax": 3068170,
      "sales_tax_local_option": 3378723,
      "sales_tax_state_shared": 1113226,
      "sales_tax_total": 4491949,
      "program_revenues": {
        "charges_for_services": 1059906,
        "operating_grants": 47143,
        "capital_grants": 242949,
        "total": 1349998
      },
      "other_general_revenues": 1446039,
      "total_general_revenues": 9006158
    },
    "expenses": {
      "total": 9372311,
      "by_function": [
        {
          "label": "General government",
          "amount": 3053503
        },
        {
          "label": "Public safety",
          "amount": 4166477
        },
        {
          "label": "Public works",
          "amount": 366055
        },
        {
          "label": "Board of Commissioners",
          "amount": 294841
        },
        {
          "label": "Financial administration",
          "amount": 136474
        },
        {
          "label": "Parks and recreation",
          "amount": 247187
        },
        {
          "label": "Engineering",
          "amount": 394846
        },
        {
          "label": "Planning and zoning",
          "amount": 261688
        },
        {
          "label": "City court",
          "amount": 197184
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 254056
        }
      ]
    },
    "change_in_net_position": 983845,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 11537327,
      "instruments": [
        {
          "label": "General Obligation Bonds - Refunding, Series 2021A",
          "balance": 1599000
        },
        {
          "label": "General Obligation Bonds - Series 2021B",
          "balance": 9365000
        },
        {
          "label": "Direct Borrowings - Note Payable, 2018 (capital outlay note payable, First State Bank)",
          "balance": 271088
        },
        {
          "label": "Direct Borrowings - Capital Outlay Note, 2020",
          "balance": 272612
        },
        {
          "label": "Lease liabilities (land rental)",
          "balance": 29627
        }
      ],
      "unamortized_premium": 256073,
      "compensated_absences": 325238,
      "net_pension_liability": 1422032,
      "net_pension_asset": 0,
      "opeb_liability": 51063
    },
    "notes": {
      "headline": "Net pension liability rises to $1.4 million",
      "audit": [
        "Net position rose $983,845. No new debt was issued and principal fell to $11,537,327.",
        "The net pension liability rose from $98,815 to $1,422,032. For the measurement year the pension note shows a $337,336 investment loss and a $458,383 experience loss.",
        "$8,488,420 of cash was still restricted for capital projects, and $2,422,150 of American Rescue Plan money was still on hand.",
        "The City lengthened the useful lives of infrastructure and equipment, which cut depreciation expense by about $600,000."
      ],
      "context": [
        "Stock and bond markets fell in 2022, which hit pension funds nationwide.",
        "The Federal Reserve's rate passed 5% by mid-2023. Several regional banks failed in March 2023."
      ],
      "flags": []
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2024,
    "period_end": "2024-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2024.pdf",
    "auditor": "Blankenship CPA Group, PLLC",
    "net_position": {
      "total_assets": 37215099,
      "deferred_outflows": 2084514,
      "total_liabilities": 16065180,
      "deferred_inflows": 3305376,
      "total_net_position": 19929057,
      "net_investment_in_capital_assets": 12212213,
      "restricted": 735187,
      "unrestricted": 6981657,
      "cash_unrestricted": 9382498,
      "cash_restricted": 8172094,
      "capital_assets_net": 15330178
    },
    "general_fund": {
      "unassigned_fund_balance": 5530683,
      "total_fund_balance": 15203277,
      "revenues": 10962788,
      "expenditures": 11335163,
      "unassigned_pct_of_expenditures": 48.8,
      "unassigned_months_of_expenditures": 5.86
    },
    "revenues": {
      "total": 11230167,
      "property_tax": 3186670,
      "sales_tax_local_option": 3390096,
      "sales_tax_state_shared": 1149167,
      "sales_tax_total": 4539263,
      "program_revenues": {
        "charges_for_services": 1739195,
        "operating_grants": 52126,
        "capital_grants": 174160,
        "total": 1965481
      },
      "other_general_revenues": 1538753,
      "total_general_revenues": 9264686
    },
    "expenses": {
      "total": 11200598,
      "by_function": [
        {
          "label": "General government",
          "amount": 3033497
        },
        {
          "label": "Public safety",
          "amount": 5480893
        },
        {
          "label": "Public works",
          "amount": 402194
        },
        {
          "label": "Board of Commissioners",
          "amount": 92768
        },
        {
          "label": "Financial administration",
          "amount": 249092
        },
        {
          "label": "Parks and recreation",
          "amount": 643601
        },
        {
          "label": "Planning and zoning",
          "amount": 842576
        },
        {
          "label": "City court",
          "amount": 214151
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 241826
        }
      ]
    },
    "change_in_net_position": 29569,
    "restatement_of_opening_net_position": 0,
    "long_term_debt": {
      "principal_outstanding": 10996177,
      "instruments": [
        {
          "label": "General Obligation Refunding Bonds, Series 2021A",
          "balance": 1380000
        },
        {
          "label": "General Obligation Bonds, Series 2021B",
          "balance": 9125000
        },
        {
          "label": "Direct borrowing - Note Payable, 2018 (Capital outlay note payable, First State Bank / 'Bank-Fire Pumper')",
          "balance": 229308
        },
        {
          "label": "Direct borrowing - Capital Outlay Note, 2020",
          "balance": 236674
        },
        {
          "label": "Lease liabilities (Land rental)",
          "balance": 25195
        }
      ],
      "unamortized_premium": 246900,
      "compensated_absences": 329338,
      "net_pension_liability": 1554064,
      "net_pension_asset": 0,
      "opeb_liability": 43467
    },
    "notes": {
      "headline": "Break-even year, large balances unspent",
      "audit": [
        "Net position rose just $29,569 as expenses grew 20% to $11,200,598.",
        "The unassigned General Fund balance was $5,530,683, about 49% of General Fund spending.",
        "Interest earnings reached $313,539, up from $17,679 two years earlier.",
        "$8,172,094 of cash restricted for capital projects and $2,408,538 of American Rescue Plan money remained unspent. No new debt was issued."
      ],
      "context": [
        "Interest rates were at their highest in more than twenty years, which raised what cities earned on cash.",
        "Inflation was cooling."
      ],
      "flags": []
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  },
  {
    "fiscal_year": 2025,
    "period_end": "2025-06-30",
    "source_file": "FinanceDept-Audit-YE-June-30-2025.pdf",
    "auditor": "Blankenship CPA Group, PLLC",
    "net_position": {
      "total_assets": 34483168,
      "deferred_outflows": 2629045,
      "total_liabilities": 15819328,
      "deferred_inflows": 3619506,
      "total_net_position": 17673379,
      "net_investment_in_capital_assets": 10604103,
      "restricted": 741030,
      "unrestricted": 6328246,
      "cash_unrestricted": 8655980,
      "cash_restricted": 4222957,
      "capital_assets_net": 17063408
    },
    "general_fund": {
      "unassigned_fund_balance": 3483734,
      "total_fund_balance": 10831051,
      "revenues": 12034377,
      "expenditures": 16406603,
      "unassigned_pct_of_expenditures": 21.2,
      "unassigned_months_of_expenditures": 2.55
    },
    "revenues": {
      "total": 12322258,
      "property_tax": 3264517,
      "sales_tax_local_option": 3507249,
      "sales_tax_state_shared": 1180742,
      "sales_tax_total": 4687991,
      "program_revenues": {
        "charges_for_services": 1968467,
        "operating_grants": 71130,
        "capital_grants": 69689,
        "total": 2109286
      },
      "other_general_revenues": 2260464,
      "total_general_revenues": 10212972
    },
    "expenses": {
      "total": 14436679,
      "by_function": [
        {
          "label": "General government",
          "amount": 2669153
        },
        {
          "label": "Public safety",
          "amount": 6422997
        },
        {
          "label": "Public works",
          "amount": 1210645
        },
        {
          "label": "Board of Commissioners",
          "amount": 95750
        },
        {
          "label": "Financial administration",
          "amount": 263114
        },
        {
          "label": "Parks and recreation",
          "amount": 724557
        },
        {
          "label": "Planning and zoning",
          "amount": 2571830
        },
        {
          "label": "City court",
          "amount": 245736
        },
        {
          "label": "Interest expense on long-term debt",
          "amount": 232897
        }
      ]
    },
    "change_in_net_position": -2114421,
    "restatement_of_opening_net_position": -141257,
    "long_term_debt": {
      "principal_outstanding": 10444535,
      "instruments": [
        {
          "label": "General Obligation Refunding Bonds, Series 2021A",
          "balance": 1158000
        },
        {
          "label": "General Obligation Bonds, Series 2021B",
          "balance": 8880000
        },
        {
          "label": "Direct borrowing - Note Payable, 2018 (Capital outlay note payable, First State Bank)",
          "balance": 186108
        },
        {
          "label": "Direct borrowing - Capital Outlay Note, 2020",
          "balance": 199764
        },
        {
          "label": "Lease liabilities (Land rental)",
          "balance": 20663
        }
      ],
      "unamortized_premium": 237727,
      "compensated_absences": 612038,
      "net_pension_liability": 2022603,
      "net_pension_asset": 0,
      "opeb_liability": 46970
    },
    "notes": {
      "headline": "Expenses up more than $3 million, reserves drawn down",
      "audit": [
        "Net position fell $2,114,421. Expenses were $14,436,679. That is $3,236,081 more than the FY 2024 audit reported, or about $3,096,000 more after this audit restated 2024 for the new leave rule.",
        "Planning and zoning expense rose to $2,571,830 from $842,576. Its contractual services line was $2,131,056 against a budget of $608,150.",
        "The General Fund balance fell $4,372,226 to $10,831,051. Spending included $2,209,229 of capital outlay recorded as land and land improvements. Cash restricted for capital projects fell to $4,222,957.",
        "The unassigned balance was $3,483,734, about 21% of General Fund spending. The net pension liability reached $2,022,603.",
        "$2,141,349 of American Rescue Plan money was still unspent, with a deadline of December 31, 2026."
      ],
      "context": [
        "The Federal Reserve began cutting rates in September 2024.",
        "Cities had to commit their American Rescue Plan money by December 31, 2024.",
        "A new accounting rule for employee leave (GASB 101) took effect."
      ],
      "flags": [
        "Opening net position was restated by $(141,257) under GASB 101. The prior year's audited figure is left as originally reported."
      ]
    },
    "tie_outs": {
      "assets_plus_deferred_outflows_minus_liabilities_minus_deferred_inflows_minus_net_position": 0,
      "revenues_minus_expenses_minus_change_in_net_position": 0
    }
  }
]