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PROJ02041
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PROJ02041
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Last modified
4/18/2011 3:16:45 PM
Creation date
7/10/2007 1:35:22 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150241
Contractor Name
DeBeque, Town of (Acting by and through its Irrigation System Enterprise)
Contract Type
Loan
Water District
0
County
Mesa
Loan Projects - Doc Type
Feasibility Study
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Management's Discussion and Analysis Financial Report <br />Town of Debeque, Colorado <br />December 31, 2004 <br />DETAILING THE MOST IMPORTANT FUNDS ' <br />The fund �nancial statements provide detailed information about the most important funds of <br />the town. Certain funds are mandated by State law and by bond agreements. Other funds are <br />established to manage money, meet legal requirements or for certain taxes or grants. <br />• Government funds: Basic services are reported in government funds; Government fund <br />financial statements detail how money flows in and out of the funds a�d reports the balances left <br />at year-end that are on hand for disbursement. Government funds are xeported using an <br />accounting method called modified accrual accounting. This method measures cash and <br />financial assets that can easily be converted to cash. The governmental fund accountability <br />focuses on the use of spendable resources during the year and balances of spendable resources <br />available at the end of the year. They are useful in evaluaring annual financing requirements of <br />governmental programs and the commitment of spendable resources for the next term. <br />Budgetary comparison statements are included in the basic �nancial statements for the general <br />fund and major revenue fund. These statements and schedules demonstrate compliance within <br />the town adopted and final revised budget. ' <br />• Proprietary funds: Proprietary funds are those the town charges for services it provides, both to <br />town units and outside customers. Proprietary funds are reported in the Statement of Net Assets <br />and the Statement of Revenues, Expenses and Changes in Fund Net Assets. The town's <br />enterprise funds, a component of proprietary funds, are the same as the business-type activities <br />we report in the government-wide statements, but they give more detailed information such as <br />cash flow. Another component of proprietary funds are internal service funds. Internal service <br />funds cover activities that provide supplies and services for town programs. <br />TOWN SERVING AS TRUSTEE <br />Due to trust arrangements, the town is often accountable for assets that can only be used for <br />trust beneficiaries. All of these trustee proceedings are detailed in separate Statements of <br />Fiduciary Net Assets and Changes in Fiduciary Net Assets, if required. Because the town cannot <br />use these assets to finance its operations, these activities are not included in other �nancial <br />statements. However, the town must be certain the assets detailed in these funds are used for <br />their intended purposes. ' <br />NOTES TO FINANCIAL STATEMENTS <br />The notes provide additional information that is necessary for a full understanding of the data <br />provided in the accompanying financial statements. , <br />OTHER INFORMATION <br />In addition to the financial statements and notes, this report contains supplementary information <br />and details of the accompanying financial statements. ' <br />M3 <br />
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