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City of Midland

City Manager's Office
989-837-3301

CITY OF MIDLAND
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDING JUNE 30, 2007

Below are links to individual pages or sections of the Comprehensive Annual Financial Report (CAFR) for 2007. Click here if you prefer to view the full version in PDF format (709 kb).

 

 

INTRODUCTORY SECTION

                                                                                                                                                        

Title Page

Table of Contents

Letter of Transmittal

Certificate of Achievement for Excellence in Financial Reporting

Organization Chart

Listing of City Council and Administrative Staff

 

 

FINANCIAL SECTION

 

Independent Auditors’ Report

 

Management’s Discussion and Analysis

 

Basic Financial Statements

 

  Government-Wide Financial Statements:

     Statement of Net Assets

     Statement of Activities

  

   Fund Financial Statements

     Balance Sheet – Governmental Funds

     Reconciliation of Governmental Funds Balance Sheet to Statement of Net Assets

     Statement of Revenues, Expenditures and Changes In Fund Balances – Governmental Funds

     Reconciliation of the Statement of Revenues, Expenditures and Changes In Fund Balances of Governmental Funds to the Statement of Activities

     Statement of Net Assets – Proprietary Funds

     Statement of Revenues, Expenses, and Changes in Fund Net Assets – Proprietary Funds

     Statement of Cash Flows – Proprietary Funds

     Statement of Fiduciary Net Assets – Fiduciary Funds

     Statement of Changes in Fiduciary Net Assets – Fiduciary Funds

 

  Notes to Financial Statements

 

  Other Required Supplementary Information

    Budgetary Comparison Schedule – General Fund

    Budgetary Comparison Schedule – Major Street Fund

    Notes to Required Supplementary Information - Stewardship, Compliance and Accountability

    Retirement Systems Schedule of Funding Progress - Police and Fire Retirement System

    Retirement Systems Schedule of Employer Contributions - Police and Fire Retirement System

 

Other Supplementary Information

 

    Nonmajor Governmental Fund Descriptions

    Combining Balance Sheet – Nonmajor Governmental Funds

    Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Governmental Funds

    Budgetary Comparison Schedule – Local Street Fund

    Budgetary Comparison Schedule – Storm Water Management Fund

    Budgetary Comparison Schedule – Transportation Fund

    Budgetary Comparison Schedule – Grace A Dow Library Fund

    Budgetary Comparison Schedule – Downtown Development Authority Fund

    Budgetary Comparison Schedule – Community Development Block Grant

    Budgetary Comparison Schedule – Cable Communications Fund

    Budgetary Comparison Schedule – Special Activities Fund

    Budgetary Comparison Schedule – Midland Housing Fund

    Budgetary Comparison Schedule – Debt Service Fund

 

    Nonmajor Proprietary Fund Descriptions

    Combining Statement of Net Assets – Nonmajor Proprietary Funds

    Combining Statement of Revenues, Expenses, and Changes in Net Assets – Nonmajor Proprietary Funds

    Combining Statement of Cash Flows – Nonmajor Proprietary Funds

 

    Fiduciary Fund Descriptions

    Statement of Plan Net Assets – Pension and Other Employee Benefit Trust Funds

    Statement of Changes in Plan Net Assets – Pension and Other Employee Benefit Trust Funds

    Combining Statement of Changes in Assets and Liabilities – Agency Funds

 

    Internal Service Fund Descriptions

    Combining Statement of Net Assets – Internal Service Funds

    Combining Statement of Revenues, Expenses, and Changes in Net Assets – Internal Service Funds

    Combining Statement of Cash Flows – Internal Service Funds

 

 

STATISTICAL SECTION

 

Introduction

Financial Trends

·         Net Assets by Component

·         Changes in Governmental Net Assets

·         Changes in Business-Type Net Assets

·         Fund Balances – Governmental Funds

·         Changes in Fund Balances – Governmental Funds

Revenue Capacity

·         Taxable Value and Actual Value of Taxable Property

·         Direct and Overlapping Property Tax Rates

·         Principal Property Taxpayers

·         Property Tax Levies and Collections

Debt Capacity

·         Ratios of Outstanding Debt

·         Ratios of General Bonded Debt Outstanding

·         Direct and Overlapping Debt

·         Legal Debt Margin

·         Pledge-Revenue Coverage

Demographic and Economic Statistics

·         Principal Employers

·         Full-Time Government Employees

·         Operating Information Operating Indicators

·         Operating Information Capital Asset Statistics