Clermont County Award Recipient

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2 Clermont County Award Recipient The Government Finance Officers Association of the United States and Canada (GFOA) has given an Award for Outstanding Achievement in Popular Annual Financial Reporting to Clermont County, Ohio for its Popular Annual Financial Report for the fiscal year ended December 31, The Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standard for preparation of state and local government popular reports. In order to receive an Award for Outstanding Achievement in Popular Annual Financial Reporting, a government unit must publish a Popular Annual Financial Report, whose contents conform to program standards of creativity, presentation, understanding and reader appeal. An Award for Outstanding Achievement in Popular Annual Financial Reporting is valid for a period of one year only. We believe our current report continues to conform to the Popular Annual Financial Report requirements, and we are submitting it to GFOA for consideration. ABOUT OUR COVER Our cover was produced in conjunction with the resources of the Clermont County Department of Public Information. A special thanks to Beth Rawdon for the beautiful photography of Clermont County. This report, as well as a variety of other information can be obtained by visiting the County s Web Site at

3 To the Citizens of Clermont County June 2, 2006 I am pleased to present the Clermont County Popular Annual Financial Report (PAFR) for the fiscal year ended December 31, This report provides a brief analysis of where County revenues come from and where those dollars are spent, as well as an overview of trends in the local economy. Above all, it is designed to present a more easily understandable financial report. The information in this report has been taken from the 2005 Clermont County Comprehensive Annual Financial Report (CAFR). The CAFR was prepared in conformance with Generally Accepted Accounting Principles (GAAP) and was audited by the Auditor of the State of Ohio s office, receiving an unqualified opinion. (That s good.) The Popular Annual Financial Report summarizes the financial activities of the primary government of Clermont County. However, the PAFR is unaudited, easier to read and is not presented in conformity with Generally Accepted Accounting Principles (GAAP). The major differences between GAAP and non-gaap reporting is the exclusion of component units, the presentation of segregated funds, and the full disclosure of all material financial and non-financial events in the notes to the financial statements. Clermont County has received the Certificate of Excellence in Financial Reporting for its CAFR for the previous nineteen years from the Government Finance Officers Association of the United States and Canada (GFOA). This is the highest award for excellence in governmental accounting. The 2005 CAFR has been submitted to the GFOA for evaluation for a twentieth Certificate of Excellence. If you would like a copy of the CAFR, please contact me at (513) or me at lfraley@co.clermont.oh.us. The Popular Annual Financial Report of Clermont County is presented as a means of increasing public confidence in County Government and its elected officials through easier, more user-friendly financial information. As you review the Popular Annual Financial Report, I invite you to share any questions, concerns or recommendations you may have. Sincerely, Linda L. Fraley Clermont County Auditor

4 Clermont County Auditor s Office General Accounting/Fiscal Officer The Clermont County Auditor is the Chief Fiscal Officer of the County. The Auditor's General Accounting Department is the watchdog over all County funds and maintains the official records of all receipts, disbursements and fund balances. As the County s Chief Fiscal Officer, it is the Auditor s responsibility to: Account for the millions of dollars received each year by the County. Issue warrants (checks) in payment of all County obligations, including the distribution of tax dollars to the townships, villages, cities, school districts and library system as well as other County agencies. Administer and distribute tax and license revenues including real estate taxes, personal property taxes, motor vehicle license fees, gasoline taxes, estate taxes, manufactured home taxes and local government funds. Account for all County funds. Administer the County Payroll. Produce Official Financial Reports of the County for Local, State, and Federal Governments. Real Estate Appraisal and Assessment Clermont County has over 80,000 separate parcels of real property. It is the duty of the Auditor to see that every parcel of land and the buildings thereon are fairly and uniformly appraised and assessed for tax purposes. The County Auditor cannot raise or lower property taxes. Tax rates are determined by each government unit, as authorized by the vote of the people. Rates are computed in strict accordance with procedures required by the Ohio Department of Taxation, Division of Tax Equalization. A general appraisal is mandated by Ohio law every six years with an update at the three year midpoint. The County does annual appraisals of new construction. The appraised value reflects the fair market value of the real estate. For taxation purposes, the owner is assessed at 35% of fair market value. The Auditor is the permanent Secretary of the Board of Revision which also includes the County Treasurer and the President of the Board of Commissioners. The Board of Revision acts as a remedy for the taxpayers who believe their property has been unfairly appraised. The Board of Revision deals with the fair market value, not the tax rate. Tax rates are determined by vote of the people. The Board of Revision holds annual hearings with regard to complaints about property values. If a taxpayer wishes to file a complaint, they must complete the form, Complaint Against the Valuation of Real Property. The form can be obtained by contacting the Auditor's office or online at The County Administration Building and the new One Stop for Auto Title, Deputy Registrar (Bureau of Motor Vehicles), and Driver s License Examination. Mobile Home Assessment The Auditor s office is also charged with assessing taxes on manufactured housing (mobile homes). Under Ohio law, it is the responsibility of mobile home owners to register their homes with the County Auditor for tax purposes. Annually, the Auditor's office assesses each manufactured home and prepares a tax list. Tax bills are sent to each owner semi-annually. The house trailer tax is distributed back to the local taxing districts (municipalities, townships and schools) in the same manner as real estate taxes. Statewide there are over 200,000 manufactured homes on the tax lists. 2

5 Clermont County Auditor s Office Personal Property Tax The Auditor s office also administers the state s tangible personal property tax laws. Generally speaking, anyone in business in Ohio is subject to tangible personal property tax on equipment, furniture, fixtures and inventory used in business. The tax is distributed back to the local tax districts similar to real estate. Special Assessments Special Assessments are not part of your real estate tax, but are included as a separate item on the real estate tax bill. These could include such items as ditch assessments, and improvements such as street paving, curbs, lighting, sidewalks and sewer or water lines. The Auditor is required by law to keep an accounting of these special assessments, to place them on the tax duplicate as separate items, and to return the money collected to the city, village, township or county office which levied the assessment. Bureau of Motor Vehicles On July 1, 2000, Clermont County Auditor, Linda L. Fraley was appointed by the State of Ohio as Deputy Registrar for the Batavia Office of the Bureau of Motor Vehicles. Linda is one of eight County auditors in Ohio to apply for and win such an appointment. When a registrar office is operated by a County Auditor, income from the BMV Office is deposited into the County s General Fund. Estate Tax The County Auditor acts as an agent for the Tax Commissioner of Ohio. The monies collected from this source are distributed by law: In 2005, 20% to the State of Ohio and 80% to the taxing district in which the decedent had resided or owned property. Weights and Measures The Auditor is the Sealer of Weights and Measures for the entire County, thus protecting the general public from the possible loss which may occur from faulty measuring devices, such as scales and pumps. The Auditor is charged with the responsibility of insuring that all State laws relating to weights and measures are strictly enforced. Sealers perform "spot-checks" on pre-packaged items to test the weight of the contents. County sealers are certified by the Ohio Department of Agriculture. Each year the Auditor s office inspects approximately 3,400 devices at 380 locations. Licensing The Auditor's office is the focal point in the county for the issuance of licenses for dogs, kennels, vendors and cigarettes. Dog licenses comprise the largest number of licenses sold. The annual dog registration is a service designed to benefit the animal, its owner and the community. The Auditor s web site includes a search mechanism to help identify dog registration. Vendor licenses authorize businesses to sell tangible property to the public and collect sales tax, a part of which is returned for use on the local level. Tax Year Real Property Personal Property Public Utility/ Personal Property Total 2005 $3,770,595,000 $169,593,000 $282,270,000 $4,222,458, $3,339,935,000 $198,398,000 $274,686,000 $3,813,019,000 3

6 Clermont County At A Glance A Brief History The County was formed by an action of Arthur St. Clair, the first governor of the Northwest Territory in 1800 before Ohio became a state. The eighth county to be formed once Ohio was a state, Clermont celebrated its Bicentennial at the turn of the century. The name Clermont County means Clear Mountain. It s 456-square mile terrain includes hills and valleys, fields of grain and other crops, numerous creeks and streams and about 20 miles of Ohio riverside. County Offices were in one building until early this century. Today they are spread around the Village of Batavia and the surrounding Batavia Township. Located directly east of Hamilton County, the state s eighth largest county, Clermont s population in 2005 was estimated at 190,589 up from 151,050 in 1990 and 95,940 in By the year 2020, it is estimated that 244,490 people will live in Clermont County. 195,000 County Population 8.0 Average Unemployment Rates Clermont County State of Ohio United States 190, , , Clermont County has experienced rapid residential growth over the past decade. With an 18.5% population growth rate for the decade of the 1990 s and an increase in every year of the new millennium for new housing starts, Clermont County has seen its property valuation distribution move from a 72% residential/28% commercial allocation to a 79% residential/21% commercial distribution. This rapid growth is aided by the completion of I-275 and the opening of I-471 between I-275 and downtown. Clermont County s economy has experienced growth within the Cincinnati metropolitan economy. Clermont county has a healthy retail and service base. Currently there are more than 7,278 businesses located in Clermont County including 2,687 service businesses, 1,651 retail and wholesale enterprises, 1,023 construction related business and 418 manufacturing companies. Some of the largest employers in the County are Batavia Transmissions, LLC, which operates an automotive transmission plant; Milacron, a producer of plastic machinery parts; Cinergy, a provider of utilities in the area; Clermont Mercy Hospital, which provides medical services for residents of the County; 3M Precision Optics, a producer of optical lenses; UGS, an engineering firm specializing in computer software design work; the Midland Company, a major national insurance provider/underwriter and International Paper opened their 3 rd building, a new 85,000 square foot information technology center. Many of the major employers in Clermont County are located in the western parts of the County in close proximity to Cincinnati. With the diverse Southwest Ohio economy, the prospects for 2006 and beyond still look promising. Clermont County's inclusion in the Greater Cincinnati Metropolitan area has been a key factor in the population growth that has been experienced in the past two decades. The County will continue to provide this area with an environment that offers the benefits of small town and/or country living within minutes of a large urban environment. 4

7 Clermont County At A Glance Current Year Projects - The following are highlights of some of the activities and projects that Clermont County has undertaken in the past year. In December 2005, the One-Stop Service Agency opened its doors to provide vehicle registrations, diver s licenses, State of Ohio identification cards, title services, and Ohio State Patrol driver s license exams at one convenient location. The Last Chance initiative has received attention and praise locally, and this year the program was nominated by the Ohio Department of Public Safety to the Governor s Highway Safety Association for a national traffic safety award. The Clermont County Sheriff s Office was one of only five recipients within the United States selected to receive this prestigious award. The Department of Job and Family Services was very active in local Workforce Development with the formation of a partnership with Butler and Warren counties to form the 5 th largest local workforce development region in Ohio. Dubbed Workforce One, the new partnership is comprised of leaders from business, education, labor and government with private sector business forming the majority of the Workforce One board. In 2005 Clermont County Municipal Court was selected by the Ohio Department of Public Safety, in cooperation with the Ohio Supreme Court to implement one of the first of two DUI Courts in the State of Ohio. The DUI Court is a three year pilot study to determine the effect DUI Courts have on managing repeat drunken drivers The Clermont County Department of Public Safety Services completed the second of a three phase process that will enable Clermont, Northeast and Union Township Communications Centers to be able to collectively answer calls and to dispatch responders on the same radio communications system. The Clermont County Engineers Office completed $4.5 million dollars in construction projects in Glen Este-Withamsville and Aicholtz Road has been improved, Dry Run Road at SR 131 has a new traffic signal, 35 miles of road resurfacing, several landslide repairs and 12 bridge replacements have been completed in These projects are funded in large part through various grants and private partnerships as well as using local funds. The Clermont County Water & Sewer District expended over $17.8 million in capital improvement projects. These projects ranged from new water mains, a new booster station, elevated water storage tanks, painting of existing tanks, new sewer mains, wastewater treatment plant upgrades, and a flow equalization facility. The Sewer District began construction of the Lower East Fork Wastewater Treatment Plant Process Procurement Project and the Hall Run Sanitary Flow Equalization Project. The Storm Water Management Department developed a pilot program to correct drainage problems in six residential areas. To help make this program permanent, Clermont County began exploring the possibility of creating a storm water utility. An advisory committee was created in April to help with this effort. A utility would also allow the County to effectively manage the storm sewer system and to reduce pollutants from entering streams and rivers through storm water runoff. Future Projects Construction is nearly complete on an expansion of Clermont County s jail. The maximum security section of the jail will be located at the north end portion of the existing structure. The $11.5 million dollar project will include the addition of 192 beds and a tunnel connected to the newly created Clermont County Municipal Court Building. This state of the art facility will provide the County s residents with enhanced public safety and the court with a greater opportunity to house criminals. The expanded detention center was completed in February Construction of the Clermont County jail. In conjunction with the Help America Vote Act, in 2003, the Secretary of State of Ohio approved the application of the Clermont County Board of Elections for grant monies to replace its current voting system. During 2005, the Board of Elections received $1.7 million worth of voting equipment that will be implemented in the November 2006 election. In December 2005, the county entered into contracts to purchase 99 acres located in Union Township in the amount of $8.2 million for economic development. During 2005, the County approved the creation of multiple tax incentive financing districts in order to secure local funding for anticipated infrastructure improvements associated with the Eastern Corridor projects. Those projects collectively are estimated at $50 million to $75 million with funding over multiple years from federal, state and local monies. 5

8 Financial Activity Statement Clermont County, Ohio Summary The Financial Activity Statement, known in accounting terms as the Statement of Revenues, Expenditures and Changes in Fund Balances, is designed to provide a record of the governmental fund money received and spent during the year. COUNTY RESOURCES There are various sources of revenue coming into the County to help finance the services provided by all of the County Departments. They include the following revenue types: PROPERTY AND OTHER TAXES are resources which include Sales Tax, Real Estate Tax, Personal Property Tax and a variety of smaller taxes. CHARGES FOR SERVICES are the combined resources of various County departments and agencies for fees paid to them by the public. LICENSES AND PERMITS are the revenues derived from selling these items. FINES AND FORFEITURES are the resources derived from fines levied in the Courts and the monies received from a variety of forfeitures, including seized property. INTERGOVERNMENTAL are the combined resources received from other governments in the form of grants, entitlements, shared revenues and pass-through monies administered by the State of Ohio and Federal Government SPECIAL ASSESSMENTS are amounts levied on Real Estate Tax bills by the County and other governments for providing improvements. INVESTMENT EARNINGS are the earnings of the County Treasurer s investments. WATER & SEWER are revenues received by the Water & Sewer Departments for fees paid to them by the public. OTHER REVENUES are those revenues received that do not fit into the other designated categories, such as refunds, sale of personal property, unexpended allowances and unclaimed money. SERVICES PROVIDED Services provided are the amounts spent in order to provide services to citizens. Services provided include: GENERAL GOVERNMENT LEGISLAVE & EXECUTIVE AND JUDICIAL expenditures are the costs incurred for administrative offices and the costs of administering justice through the Clermont County Courts. PUBLIC SAFETY expenditures reflect the costs of the Sheriff, Coroner, Building Department, Emergency Services and other Public Safety programs. PUBLIC WORKS expenditures reflect the costs incurred by the County Engineer. HEALTH expenditures reflect the cost to maintain public health. HUMAN SERVICES expenditures relate to the costs of the Department of Job & Family Services and other public assistance programs. COMMUNITY DEVELOPMENT expenditures represent the economical development of the County, and assistance to economically disadvantaged individuals and businesses. TRANSPORTATION expenditures reflect the costs associated with the operation of the Clermont Transportation Connection. INTERGOVERNMENTAL expenditures reflect payments by the County in support of governmental activities administered by other levels of government. CAPITAL OUTLAY expenditures are related to the purchase and construction of capital assets. DEBT SERVICE expenditures are related to the retiring of the County s debt. WATER & SEWER are the costs associated with operating Water & Sewer Departments. 6

9 Financial Activity Statement Clermont County, Ohio December 31, 2005 Comparative Activity Statement Resources Taken In Taxes $39,894,619 $39,755,700 Charges for Services 18,480,378 17,339,735 Licenses & Permits 2,063,488 1,807,576 Fines & Forfeitures 1,858,195 1,890,580 Intergovernmental 48,006,570 44,040,412 Special Assessments 1,126,869 1,218,024 Investment Earnings 4,562,951 3,097,608 Water & Sewer 39,182,872 32,543,094 Other Revenues 1,900,227 1,293,470 Total Revenue & Resources 157,076,169 $142,986,199 Services Provided General Government 27,272,505 24,966,641 Public Safety 25,105,955 23,631,927 Public Works 11,494,227 9,969,435 Health 823, ,620 Human Services 29,879,236 29,616,479 Community Development 1,877, ,949 Transportation 1,501,225 1,421,673 Intergovernmental 569,756 1,193,103 Capital Outlay 15,603,926 11,979,995 Debt Service 5,155,807 6,240,198 Water & Sewer 27,129,202 25,992,458 Total Expenditures & Services 146,412,733 $136,683,478 Revenue & Resources over Expenditures & Services $10,663,436 $6,302,721 Readers of the Financial Activity Statement should keep in mind that the statement is presented on a non-gaap basis, and those desiring to review GAAP basis reports should refer to the County s Comprehensive Annual Financial Report for the year ended December 31,

10 Where The Money Comes From County Revenue 2005 Total Revenue $157,076,169 Investment Earnings 2.90% Special Assessments 0.72% Water & Sew er 24.95% Other Revenues 1.21% County Sales Tax, 13.12% Manufactured Home Tax, 0.06% Motor Vehicle Tax, 1.36% County Lodging, 0.27% Taxes 25.40% General Property Tax, 9.97% Intergovernmental 30.56% Charges for Services Fines & Forfeitures 11.77% 1.18% Licenses & Permits 1.31% Tangible Personal Tax, 0.62% $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 County Sales & General Property Tax Past Ten Years 10,765,545 14,013, ,222,923 14,878, ,794,864 15,627, ,991,171 17,114, ,538,726 16,552, ,895,616 18,852, ,314,537 19,513, ,942,600 19,819, ,298,661 20,966, ,714,051 20,610, General Property Tax County Sales Tax 8

11 Where The Money Goes County Services 2005 Total Services & Expenses $146,412, Amount Percent Services Amount Amount of Change of Change General Government $27,272,505 $24,966,641 $2,305, % Public Safety 25,105,955 23,631,927 1,474, % Public Works 11,494,227 9,969,435 1,524, % Health 823, ,620 (140,773) % Human Services 29,879,236 29,616, , % Community Development 1,877, ,949 1,170, % Transportation 1,501,225 1,421,673 79, % Intergovernmental 569,756 1,193,103 (623,347) % Capital Outlay 15,603,926 11,979,995 3,623, % Debt Service 5,155,807 6,240,198 (1,084,391) % Water & Sewer 27,129,202 25,992,458 1,136, % Total Expenditures & Services $146,412,733 $136,683,478 $9,729, % Debt Service 3.52% Capital Outlay 10.66% Water & Sewer 18.53% General Government 18.63% Public Safety 17.15% Intergovernmental 0.39% Public Works 7.85% Transportation 1.03% Community Development 1.28% Human Services 20.41% Health 0.55% 9

12 General Fund Actual Expenditures 2005 Board of County Commissioners: Commissioners $ 960,008 Human Resources 289,445 Public Information 180,519 Department of Management & Budget 320,009 Information Systems 2,007,186 Insurance, Health and Judgments 1,353,036 Legislative & Executive Grants 1,291,445 Capital Purchases 1,747,502 Facilities Maintenance 2,653,193 Communications Center 2,091,174 Building Inspection/Perm it Central 1,076,081 Economic Development 425,412 Community Planning & Development 228,238 Planning Commission 937 Records Retention 178,689 Other Public Safety 1,623,221 Other Judicial 837,375 Tuberculosis Clinic 41,516 Other Health/Human Services 1,488,618 Total Board of County Commissioners 18,793,604 Auditor: General 934,698 Personal Property 49,339 Tax Map 91,693 Deputy Registrar 346,618 Bureau of Inspection 83,683 Budget Commission 1,333 Board of Revision 2,482 Total Auditor 1,509,846 Treasurer 654,706 Prosecuting Attorney 2,289,404 Recorder 445,371 Board of Elections 1,203,049 Common Pleas Court-General Division: General Division 997,701 Jury Commission 172,817 Law Library 140,528 Adult Probation 794,128 Total Common Pleas Court General-Division 2,105,174 Common Pleas Court-Domestic Division 908,792 Common Pleas Court-Juvenile/Probate: Juvenile Court 1,225,317 Probate Court 336,995 Juvenile Detention 1,183,116 Juvenile Probation 385,668 Total Common Pleas Court-Juvenile/Probate 3,131,096 Municipal Court: General Division 915,147 Adult Probation 609,938 DUI Court 46,506 Total Municipal Court 1,571,591 Court of Appeals 137,962 Clerk of Courts: Common Pleas Court 921,201 Municipal Court 1,223,316 Total Clerk of Courts 2,144,517 Public Defender 1,079,362 County Coroner 265,110 Sheriff: General Division 7,430,800 Adult Detention 6,796,258 Total Sheriff 14,227,058 Veterans Service Commission 923,773 Total Expenditures $ 51,390,415 Legislative and Executive 33.35% The General Fund is the principal operating fund of the County. The General Fund is used to account for all financial resources except those required to be accounted for in another fund; such as tax revenue voted for a specific purpose. Following are the actual General Fund expenditures by services provided and the administrative office. General Fund Actual Expenditures by Program Judicial 17.40% Community Development 2.08% Human Service 4.07% Public Safety 42.74% These figures are based upon actual expenditures. Readers desiring to review GAAP basis expenditures should refer to the County's Comprehensive Annual Financial Report. The County s land purchase in western Clermont County related to economic development initiatives. Health 0.36% 10

13 How The Money Is Invested County Investments 2005 Total Investments $151,203,815 Federal Agency Notes 26.80% Money Market Funds 2.93% STAROhio 0.13% Treasury Bills 16.38% Treasury Notes 53.76% Treasury Bills $24,770,307 Treasury Notes 81,282,766 Federal Agency Notes 40,521,869 Money Market Funds 4,428,873 STAROhio 200,000 Total $151,203,815 Investments includes fiduciary funds. Investment Earnings $12,000,000 $10,871,408 $10,000,000 $ 8,000,000 $7,134,061 $ 6,000,000 $ 4,000,000 $ 2,000,000 $3,301,830 $3,097,608 $4,562,951 $

14 Financial Position Statement Clermont County, Ohio December 31, 2005 Summary The Financial Position Statement, known in accounting terms as the Balance Sheet, is designed to provide a picture of the County s financial position as of the end of the year. Explanations of specific accounts are as follows by where they appear in the financial position statement: Benefits Cash is comprised of cash and investments held in County Treasury. Receivables represent the amounts which are owed to the County and which are expected to be paid to the County over the course of the next twelve months. Property, Plant & Equipment represents the land, buildings, water and sewer plants, vehicles, equipment, furniture and infrastructure which provides for an economic benefit of greater than three years. Detriments Amounts Owed to Employees and Vendors are those items which the County owes to individuals and companies who supply a service or good, and the expected payment is to be made within twelve months. Long Term Debt represents the amount of debt which the County has issued and still owes. This debt does not have to be paid off in one year, rather the County makes monthly or yearly debt payments on these amounts. Financial Benefits Cash $149,353,566 Receivables 58,331,399 Property, Plant & Equipment 383,516,243 Other Benefits 3,154,041 Total Financial Benefits $594,355,249 Financial Detriments Amount Owed to Employees & Vendors $18,346,616 Long Term Debt 109,016,780 Deferred Revenue 17,578,548 Other Detriments 1,354,059 Total Financial Detriments 146,296,003 Benefits over Detriments This amount represents the difference between the financial benefits of the County and the detriments which it must pay. The amount provides the net worth of the County. Readers of the Financial Position Statement should keep in mind that the statement is presented on a non-gaap basis, and those desiring to review GAAP basis reports should refer to the County s Comprehensive Annual Financial Report for Benefits Over Detriments $448,059,246 12

15 Summary of Debt Instruments Clermont County, Ohio December 31, 2005 The County employs the use of several different types of short and long term debt financing. They are defined as follows: Special Assessments- Special Assessment Bonds are issued to pay for improvements benefiting property owners. The owners pay the County over a period of twenty years for the debt. General Obligation- General Obligation Bonds are long term debt instruments which are repaid from the County s general revenue sources. Revenue Bonds- Revenue Bonds are long term debt instruments issued to pay for the projects of the water and sewer systems, and are fully repaid from the revenues of these departments. Other Long Term Debt- Other long term debt is comprised of Ohio Water Development Authority Notes and Ohio Public Works Commission loans issued for Water and Sewer and other infrastructure projects. General Obligation Bonds 23.25% Special Assessment 6.27% Other Long Term Debt 7.24% Revenue Bonds 63.24% Balance New Money Paid Off Balance 01/01/05 Additions (Deletions) 12/31/05 Special Assessment $5,401,000 $1,850,000 $413,000 $6,838,000 Revenue Bonds 72,525, ,585,000 68,940,000 Other Long Term Debt 8,702, ,619 7,888,780 General Obligation Bonds 28,710, ,360,000 25,350,000 Total Debt $145,188,578 $1,850,000 $8,171,619 $109,016,780 13

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