City of Portsmouth New Hampshire

[Pages:3]City of Portsmouth New Hampshire

Comprehensive Annual Financial Report

for Fiscal Year Ended June 30,2016

Planning Portsmouth

This year's cover represents the next phase of development for the City and the importance of civic involvement. The City has overcome hurdles in funding, especially over the past decade, yet Portsmouth is entering a vibrant era of planning that encompasses both City expansion and the conservation of our community values.

Throughout the past year, the City has hosted numerous charrettes and meetings to give citizens a platform to be heard. This public input method has become a core piece of the planning equation, and inspires ideas for the future.

Entering FY16, it is our hope that residents will continue to be key members of planning processes to empower the City to thrive.

CITY OF PORTSMOUTH, NEW HAMPSHIRE Comprehensive Annual Financial Report

For the Year Ended June 30, 2016

Prepared by: The Finance Department

Judith Belanger Finance Director

Andrew Purgiel Deputy Finance Director

City of Portsmouth, New Hampshire Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2016

TABLE OF CONTENTS

INTRODUCTORY SECTION:

Transmittal Letter Organizational Chart Directory of Officials GFOA Certificate of Achievement

FINANCIAL SECTION:

Independent Auditors' Report

Management's Discussion and Analysis

Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Position

Statement of Activities

Fund Financial Statements:

Governmental Funds:

Balance Sheet

Reconciliation of Total Governmental Fund Balances to Net Position of Governmental Activities in the Statement of Net Position

Statement of Revenues, Expenditures, and Changes in Fund Balances

Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities

Page 1

17 18 19

21 24

41 42

44

45 46

47

Statement of Revenues and Other Sources, and Expenditures and Other Uses - Budget and Actual - General Fund

Proprietary Funds:

Statement of Net Position

Statement of Revenues, Expenses, and Changes in Fund Net Position

Statement of Cash Flows

Fiduciary Funds:

Statement of Fiduciary Net Position

Statement of Changes in Fiduciary Net Position

Notes to Financial Statements

Required Supplementary Information:

Schedule of OPEB Funding Progress

Schedule of Proportionate Share of the Net Pension Liability

Schedule of Pension Contributions

Supplementary Statements and Schedules:

Governmental Funds:

Combining Financial Statements:

Combining Balance Sheet - Nonmajor Governmental Funds

Combining Statement of Revenues, Expenditures, and Changes in Fund Equity - Nonmajor Governmental Funds

Fiduciary Funds:

Combining Statement of Fiduciary Net Position - Private Purpose Trust Funds

Combining Statement of Changes in Fiduciary Net Position Private Purpose Trust Funds

Combining Statement of Changes in Assets and Liabilities Agency Funds

Page 48

49 50 51

52 53 55

91 92 93

98 104

110 111 112

STATISTICAL SECTION:

Financial Trends Net Position by Component Changes in Net Position Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds Combined Enterprise Fund Revenue, Expenses, and Changes in Fund Net Position

Revenue Capacity General Government Tax Revenues by Source Property Tax Levies and Collections Assessed and Estimated Full Value of Real Property Principal Taxpayers Property Tax Rates per $1,000 of Assessed Value Direct and Overlapping Governments Utility Fund Net Budget, Billable Volumes and Rates Portsmouth's Share of the Rockingham County Tax Apportionment

Debt Capacity Ratios of Long Term Debt Outstanding and Legal Debt Limits Ratios of Outstanding Debt by Debt Type Direct and Overlapping Governmental Activities Debt Ratios of General Bonded Debt Outstanding

Page

114 115 116 117 118

119 120 121 122 123 124 125

126 127 128 129

Demographic and Economic Information Demographic Statistics Principal Employers

Operating Information Operating Indicators by Function Capital Asset Statistics by Function City Government Employees by Function - Full Time Equivalents

Page

130 131

132 133 134

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