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NEWSLETTER SIGN UPlpanter@barrowcountynews.com
So far, the year hasn’t been too good to the City of Winder.
At the city’s October council meeting, Financial Director Leslie Ginn spoke about the city’s budget for the first third of the 2010 Fiscal Year.
"Ideal revenues for this period should be equal to or greater than 33.33 percent of the annual budgeted revenues while ideal expenditures should be equal to or less than 33.33 percent of the annual budgeted expenses.
So far this year, general fund revenues are at 27.32 percent while expenditures are at 30.29 percent.
Revenues in the general and enterprise funds are both down, but municipal court revenues are up.
Expenses have been greater in the general fund, but less than revenue received in the enterprise fund.
The municipal court’s outgoing costs have been less than its revenues by 12 percent.
In addition to this report, which shows that Winder is still feeling the crunch from the recession, the City released its final audit on the 2009 Fiscal Year.
According to the audit, three out of the four funding sources for the City of Winder — sales tax, fines and forfeitures. licensing and permitting and utility profits — declined in the year.
Winder’s water customer base declined by .006 percent, sewer base declined by 1 percent and the gas base increased by .004 percent.
The tax digest decreased by 5.6 percent and Special Purpose Local Option Sales Tax (SPLOST) revenues were down 20 percent for the city.
These changes in revenue instigated a reduction in force in February, when 30 employees were laid off and the city’s functioning was restructured.
According to the audit, this shows the recession is continuing to affect Winder.
According to the audit, "the City of Winder’s governmental activities and business-type activities exceeded its liabilities at the close of the fiscal year by $80.8 million. Of this amount, $12 million (unrestricted net assets may be used to meet the government’s ongoing obligations to citizens and creditors."
The government’s total net assets decreased by $895,000 during the FY2009.
Expenses decreased $505,000 due to the city’s reorganization.
At the year closeout, the governmental funds reported combined ending balances of $2.9 million, an increase of $300,000 from the prior year.
About $2.5 million is available for spending at the city’s discretion.
The unreserved fund balance for the general fund was at $1.5 million at the end of the year.
The enterprise fund had unreserved net assets of $9.5 million for FY2009, which is about 43.9 percent of the total enterprise fund.
In addition, during the fiscal year, Winder refinanced the majority of the Series 1998 Water and Sewage Revenue Bonds, which was a gain of $266,000.
The city’s net assets are an indicator of the financial situation, and in the case of the city, assets exceeded liabilities by $80,867,720 at the end of the fiscal year.
This is a decrease of approximately $895,000 from the previous year, and is attributed to the current economic climate and water restrictions posed on customers due to an ongoing drought.
At the end of June 2009, the city had $68 million invested in capital assets, and $.8 in unrestricted net assets.
At the end of the current fiscal year, the city did report positive balances in the three categories for net assets, both as a governmental agency as well as a business.
Governmental activities increased its net assets by $1.1 million due to transfers from proprietary funds, while fund revenues decreased due to a decline in investments and in licenses and permits.
Sales taxes were down 20 percent as well, however, the Winder’s fire tax returns increased due to an increase in the millage rate.
Business-activities in the city decreased Winder’s net assets by about $2 million, due to the water restrictions. In addition, expenditures decreased by $502,000 due to the cost of natural gas. The solid waste fund also decreased.
