Comprehensive Annual FLORIDA’S CAPITAL CITY

Comprehensive Annual

F L O R I D A¡¯ S C A P I TA L C I T Y

Financial Report

For the Fiscal Year Ended September 30, 2012

CITY OF TALLAHASSEE, FLORIDA

COMPREHENSIVE

ANNUAL FINANCIAL REPORT

For The Fiscal Year Ended

September 30, 2012

PREPARED BY:

Department of Management and Administration

Accounting Services Division

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CITY OF TALLAHASSEE, FLORIDA

CITY COMMISSION

JOHN MARKS, Mayor

ANDREW GILLUM, Pro Tem

MARK MUSTIAN, Commissioner

NANCY MILLER, Commissioner

GIL ZIFFER, Commissioner

CITY MANAGER

ANITA FAVORS THOMPSON

CITY AUDITOR

CITY ATTORNEY

Sam M. McCall, CPA

James R. English

CITY TREASURER-CLERK

DIRECTOR OF MANAGEMENT

AND ADMINISTRATION

James O. Cooke, IV

Raoul A. Lavin

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CITY OF TALLAH ASSEE, FLO RIDA

CO M PREHENSIVE ANNUAL FINANCIAL REP ORT

FISCAL YEAR ENDED SEPTEM BER 30, 2012

TABLE O F CO NT ENTS

PA G E

I. INTRO DUCTO RY SECTIO N

Letter of Transm ittal ..............................................................................................................

3

Governm ent Finance Officer¡¯s Association Certificate of Achievem ent ..............................

6

Organiz ational Chart ..............................................................................................................

7

List of Elected and Appointed Officials and Directors ..........................................................

8

List of Accounting Services Division Staff ...........................................................................

9

II. FINANCIAL SECTIO N

Independent Auditors¡¯ Report................................................................................................

13

A. M AN A GEME NT ¡¯ S DI SCU SSION

15

AN D

AN A LY SIS ................................................................

B. B A SIC F IN A N CI AL S TA TEMEN TS :

G overnment-wide Financial Statements:

Statem ent of Net Assets ...........................................................................................

28

Statem ent of Activities.............................................................................................

30

Fund F inancial Statem ents:

G overnmental Funds Financial Statements:

Balance Sheet ......................................................................................................

34

Reconciliation of the Government Funds Balance Sheet to the

Statem ent of Net Assets ...................................................................................

35

Statem ent of Revenues, Expenditures and C hanges in Fund Balance ................

36

Reconciliation of Revenues, E xpenditures, and Changes

In Fund Balances of Governm ental Funds to the Statement of Activities ......

37

Proprietary F unds Financial Statements:

Statem ent of Net Assets ......................................................................................

38

Statem ent of Revenues, Expenses, and Changes in Fund Net Assets ................

40

Statem ent of Cash Flows ....................................................................................

42

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C ITY O F TA LLA H AS SE E, FL OR ID A

TA BLE OF C ON TEN TS

(Con tin ued )

F id uciary Fu n ds Finan cial S tatements:

P A GE

S tatem ent of N et A ss ets .......................................................................................

44

S tatem ent of Changes in N et A ssets ....................................................................

45

N otes to Fin an cial Statemen ts :

N ote I ¨C Sum mary of Significant A ccounting Policies ......................................

47

N ote II ¨C R econciliation of Governm ent-w ide and Fund Financial Statements .

58

N ote III ¨C Stew ards hip, Compliance, and A ccountability ..................................

59

N ote IV ¨C D etailed N otes (All F unds) ................................................................

61

N ote V ¨C O ther Information ................................................................................

81

C . R EQ UI RE D S UP PLE M EN TA RY IN FOR M A TIO N (O TH ER

T HA N

M D &A ):

Budgetary Comparis on Schedule - G eneral Fund ...........................................................

92

N ote to Required Supplem entary Inform ation .................................................................

93

S chedule of Funding P rogress - O P EB ............................................................................

94

S chedule of Em ployer Contributions - OP EB .................................................................

94

D . C OM BIN IN G F I NA N C IAL S TA TEM EN TS :

N onm ajor G overn men tal Fu nd s:

Balance S heet ...........................................................................................................

98

S tatem ent of Revenues, Expenditures, and Changes in F und Balance ....................

100

Non major En terp rise Fun ds :

Statement of N et A ssets ..........................................................................................

103

Statement of Revenues, E xpenses, and Changes in F und N et A ss ets ....................

104

Statement of Cash F low s ........................................................................................

105

In tern al Service F un ds :

Statement of N et A ssets ..........................................................................................

108

Statement of Revenues, E xpenses, and Changes in F und N et A ss ets ....................

110

Statement of Cash F low s ........................................................................................

112

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