Governmental and Institutional Accounting

Requirement 6-d Total Assessed Valuation 303,035,714 $ Maximum general obligation debt, limited to 8% of assessed valuation 24,242,857 $ Deferred serial bonds outstanding chargeable to limit 2,000,000 Legal Debt Margin, December 31, 2014 22,242,857 $ 1. $28,000 of restricted fund balance in the debt service fund is restricted for payment of interest on debt. An additional $8,000,000 has been authorized for issue over the next three years. City of Smithville Computation of Legal Debt Margin As of December 31, 2014 Accoun t Debits Credits Cash $292,375 Taxes Receivable—Delinquent 45,000 Estimated Uncollectible Delinquent Taxes $20,000 Interest and Penalties Receivable on Taxes 3,600 Estimated Uncollectible Interest and Penalties 180 Investments 255,000 Fund Balance—Restricted 575,795 Totals for all accounts $595,975 $595,975 City of Smithville Street Improvement Bond Debt Service Fund Post-Closing Trial Balance For year 2015 Requirement 6-f Assets Cash 292,375 $ Taxes receivable--delinquent 45,000 $ Estimated uncollectible delinquent taxes (20,000) 25,000 Interest and penalties receivable on taxes 3,600 Estimated uncollectible interest and penalties (180) 3,420 Investments 255,000 Total Assets 575,795 $ Fund Balance Restricted 575,795 $ City of Smithville Street Improvement Bond Debt Service Fund Balance Sheet As of December 31, 2015 Accoun t Debits Credits Cash $292,375 Taxes Receivable—Delinquent 45,000 Estimated Uncollectible Delinquent Taxes $20,000 Interest and Penalties Receivable on Taxes 3,600 Estimated Uncollectible Interest and Penalties 180 Investments 255,000 Fund Balance—Restricted 28,000 Budgetary Fund Balance 544,375 Estimated Revenue—Taxes 640,000 Estimated Revenue—Investment Income 4,375 Estimated Revenue—Accrued Interest on Bonds Sold 25,000 Estimated Other Financing Sources—Premium on Bonds 30,000 Revenue—Taxes 640,000 Revenue—Interest and Penalties on Taxes 3,420 Revenue—Investment Income 4,375 Revenue—Accrued Interest on Bonds Sold 25,000 Other Financing Sources—Premium on Bonds 30,000 Appropriations 155,000 Expenditures—Bond Interest 155,000 Totals for all accounts $1,450,350 $1,450,350 City of Smithville Street Improvement Bond Debt Service Fund Pre-Closing Trial Balance For year 2015 Requirement 6-g Revenues Property taxes 640,000 $ Interest and penalties on taxes 3,420 Accrued interest on bonds sold 25,000 Investment income 4,375 Total Revenues 672,795 Expenditures Bond interest 155,000 Excess of Revenues over Expenditures 517,795 Other Financing Sources Premium on bonds sold 30,000 Increase in Fund Balance 547,795 Fund Balance, January 1, 2015 28,000 Fund Balance, December 31, 2015 575,795 $ City of Smithville Street Improvement Bond Debt Service Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2015

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