|
City of Louisville
<br />Notes to the Financial Statements
<br />December 31, 2014
<br />Note 7: Long-term debt
<br />A. Changes in long-term liabilities
<br />A summary of changes in long-term liabilities for the year ended December 31,
<br />2014 is as follows:
<br />Governmental activities
<br />Bonds payable:
<br />Library Long Term Debt GO Bonds
<br />2004 General Obligation Library Bonds
<br />Bond Premium
<br />2014 URA Tax Increment Financing Bonds
<br />Balance at Balance at Due within
<br />11112014 Additions Reductions 12/31/2014 One Year
<br />3,810.000
<br />15.700
<br />3.825.700
<br />(575.000) 3,235.000
<br />(1.963) 13.737
<br />(576.963) 3,248.737
<br />375.000
<br />375,000
<br />760,000 750.000
<br />Total bonds payable 3,825,700 750,000 (576,963) 3,998,737 375,000
<br />Other liabilities:
<br />Compensated absences
<br />875,965 1,105,806 (1,125.785) 855.986 94,158
<br />Governmental activities non -current liabilities $4,701,665 $1,855,806 $(1,702.748) $4,854,723 $ 469,158
<br />Business -type activities
<br />Bonds. loans. and leases payable:
<br />2013 Water & Wastewater Refunding Bonds
<br />8,355.000 (630.000) 7.725,000 690,000
<br />8.355.000 - (630.000) 7,725.000 690,000
<br />Windy Gap Lease Payments 222.438
<br />Total bonds, loans. and leases payable
<br />Other liabilities:
<br />Compensated absences
<br />(50.625) 171,813 53,344
<br />8,577,438 (680,625) 7,996,813 743,344
<br />210,298 248,722 (265,524) 193,496 21,284
<br />Business -type activities non -current liabilities $8,787,736 $ 248,722 $ (946,149) $8,090,309 $ 764,628
<br />Compensated absences in both governmental and business -type activities are
<br />classified as long-term liabilities. The City estimates that the current portion of
<br />compensated absences is $94,158 in the governmental funds and $21,284 in the
<br />business type activity funds for a total of $115,442. Compensated absences of the
<br />governmental activities are expected to be paid from the General Fund, Open
<br />Space & Parks Fund, Cemetery Fund, Historic Preservation Fund, and the Capital
<br />Projects Fund.
<br />55
<br />
|