This table was part of Friday’s long post, but deserves some attention of its own. [table id=34 /] You can find the breakdown of the FY2010 overlapping debt in this document, on p. 153. FY2010 ended June 30, 2010. Let’s look at some of the GO bond issues since that date: DeKalb County: $16,000,000, 10/14/2010…
Tag: cafr
A Look at City of DeKalb Debt
As a Home Rule community, DeKalb has no state-imposed legal limit on its indebtedness. Non-Home-Rule municipalities (at least those under 500,000 population) do have a limit. It’s 8.625%* of the taxable value of the properties within their boundaries, and they must report compliance with the limit by computing Legal Debt Margins for their Comprehensive Annual…
City of DeKalb’s Liabilities for Compensated Absences
DeKalb’s whittling of its workforce to meet budgetary goals has not made much of a dent in the liability for compensated absences. [table id=27 /]
City of DeKalb’s Post-Employment Expenditures
For a number of years, the City of DeKalb has provided post-employment health and life insurance coverage for all of its retirees, whether contractually obligated or not. Known as Other Post-Employment Benefits (OPEB), this program has been changed for greater sustainability as a result of recommendations by Executive Partners, Inc. (EPI) in May 2009. Perhaps…
City of DeKalb Claims Breakdown: Workers Comp
The following is a year-over-year look at City of DeKalb’s Workers Compensation liabilities along with total claims payables and Workers Comp Fund deficit information for comparisons’ sake. [table id=25 /] Claims Payable (in the table as “Total Claims Payable”) is a liability listed on net assets statements. DeKalb’s Claims Payable used to include health insurance,…
City of DeKalb’s Liabilities
The following are selected year-over-year figures from asset statements found in DeKalb’s Comprehensive Annual Financial Reports (CAFRs). [table id=24 /] Notes: –The liabilities reported here come from governmental and proprietary activities. They do not include pension liabilities. –“Other” liabilities include both payables and unearned tax revenues. Both accounts payable and unearned property taxes roughly doubled…
Oh, So Very Balanced
While the City of DeKalb touts balanced General Fund budgets, deficits in other funds are growing. [table id=23 /]
CAFR & Component Units
This is a follow up to previous posts about DeKalb Public Library (DKPL), here and here, in which I posed questions about audits of DKPL and whether the failure to estimate six types of revenues in its budget for several years ever sent up red flags for the auditor of the City of DeKalb’s Comprehensive…
Fun with CAFR & the Liberry
The DeKalb Public Library has a current annual budget of $1.9 million, yet apparently has enough funds on hand to buy property valued at $1.8 million. That’s quite a reserve! Normally for slush I’d call for a refund (about $40 per resident) but perhaps we should ask DKPL to help the city save for the…
Park District Finances & Financing
Meeting minutes for the September 10, 2009 Park Board “study session” included a presentation of the Independent Auditor’s Report of the FY 2009 Comprehensive Annual Financial Report (CAFR). [Brian LeFevre of Sikich, LLP] reported that both the District’s Golf Course and Hopkins enterprise funds were in a negative working capital position requiring them to borrow…