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INTRODUCTORY SECTION

Letter of Transmittal

GFOA Certificate of Achievement

Organizational Chart

Principal Officials

FINANCIAL SECTION

Independent Auditors’ Report

Management’s Discussion and Analysis

Basic Financial Statements

      Government-wide Financial Statements

Exhibit 1 Statement of Net Assets

Exhibit 2 Statement of Activities

      Fund Financial Statements

Exhibit 3 Balance Sheet – Governmental Funds

Exhibit 4 Reconciliation of the Balance Sheet of the Governmental Funds to the Statement of Net Assets

Exhibit 5 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds

Exhibit 6 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities – Governmental Funds

Exhibit 7 Statement of Net Assets – Proprietary Funds

Exhibit 8 Statement of Revenues, Expenses, and Changes in Net Assets – Proprietary Funds

Exhibit 9 Statement of Cash Flows – Proprietary Funds

Exhibit 10 Statement of Net Assets – Fiduciary Funds

Exhibit 11 Statement of Changes in Fiduciary Net Assets – Pension Trust Fund

      Notes to Financial Statements

Note 1 Summary of Significant Accounting Policies

Note 2 Cash and Investments

Note 3 Stewardship, Compliance and Accountability

Note 4 Interfund Transfers

Note 5 Due From/To Primary Government/Component Units Obligations and Interfund Obligations

Note 6 Due From Other Governmental Units

Note 7 Capital Assets

Note 8 Long-Term Obligations

Note 9 Construction Commitments

Note 10 Commitments and Contingent Liabilities

Note 11 Claims and Litigations

Note 12 Defined Benefit Pension Plan

Note 13 Length of Service Awards Pension Program

Note 14 Deferred Revenue

Note 15 Debt Defeasance

Note 16 Landfill Closure and Postclosure Care Costs

Note 17 Risk Management

Note 18 Surety Bonds

Note 19 Commitments Under Non-Capitalized Leases

Note 20 Subsequent Events

Note 21 Fund Balances / Retained Earnings Adjustments

      Required Supplementary Information

Exhibit 12 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual – General Fund

      Combining and Individual Fund Statements and Schedules

Exhibit 13 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual – Capital Projects Fund

Exhibit 14 Combining Balance Sheet – Non-Major Governmental Funds

Exhibit 15 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Non-Major Governmental Funds

Exhibit 16 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual – Non-Major Governmental Funds

Exhibit 17 Combining Balance Sheet – Fiduciary Funds

Exhibit 18 Statement of Changes in Fiduciary Net Assets – Pension Trust Fund

Exhibit 19 Combining Statement of Changes in Assets and Liabilities – Agency Funds

Exhibit 20 Capital Assets Used in the Operation of Governmental Funds – Schedule by Source

Exhibit 21 Capital Assets Used in the Operation of Governmental Funds – Schedule by Function

Exhibit 22 Capital Assets Used in the Operation of Governmental Funds – Schedule of Changes by Function

Exhibit 23 Combining Balance Sheet Discretely Presented Component Unit – School Board

Exhibit 24 Reconciliation of the Balance Sheet of the Governmental Funds to the Statement of Net Assets –Discretely Presented Component Unit – School Board

Exhibit 25 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Discretely Presented Component Unit – School Board

Exhibit 26 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities – Discretely Presented Component Unit – School Board

Exhibit 27 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual – Discretely Presented Component Unit – School Board

Exhibit 28 Capital Assets Used in the Operation of Governmental Funds – Schedule by Source – Discretely Presented Component Unit – School Board

Exhibit 29 Capital Assets Used in the Operation of Governmental Funds – Schedule by Function – Discretely Presented Component Unit – School Board

Exhibit 30 Capital Assets Used in the Operation of Governmental Funds – Schedule of Changes by Function - Discretely Presented Component Unit – School Board

      Other Supplementary Information

Schedule 1 Governmental Funds and Discretely Presented Component Unit – Schedule of Revenue – Budget and Actual

STATISTICAL SECTION

Table 1 General Governmental Expenditures by Function

Table 2 General Governmental Revenues by Source

Table 3 Property Tax Levies and Collections

Table 4 Assessed Value of All Taxable Property

Table 5 Property Tax Rates for Both Direct and Overlapping Governments

Table 6 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita

Table 7 Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total General Governmental Expenditures

Table 8 Revenue Bond Coverage

Table 9 Demographic Statistics

Table 10 Property Value and Construction

Table 11 Principal Taxpayers

Table 12 Miscellaneous Statistics

COMPLIANCE SECTION

Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards

Report on Compliance with Requirements Applicable to Each Major Program and Internal Control Over Compliance in Accordance with OMB Circular A-133

Schedule of Expenditures of Federal Awards—Primary Government and Discretely Presented Component Unit

Schedule of Findings and Questioned Costs

Date Last Modified: 11/30/2004