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4. DETAILED NOTES ON ALL FUNDS (Continued)
<br />Long -term Debt (Continued)
<br />Changes in Long -term Liabilities
<br />Long -term liability activity for the year ended September 30, 2007, was as follows:
<br />Beginning
<br />Governmental activities
<br />General obligation bonds $
<br />40,41500
<br />Capital leases
<br />140,044
<br />Discount on bonds
<br />-
<br />Compensated absences
<br />3,385,914
<br />Governmental activity
<br />Long -term liabilities $
<br />43,940,958
<br />Business -type activities
<br />Bonds payable:
<br />Revenue bonds $
<br />95,59500
<br />Premium on bonds
<br />1,287,624
<br />Deferred amount on
<br />refundings (
<br />1,878,922)
<br />Discount on bonds (
<br />56,134)
<br />Total bonds payable
<br />94,947,568
<br />Capital leases
<br />38,490
<br />Compensated absences
<br />195,786
<br />Business -type activity
<br />Long -term liabilities $ 95,181,844
<br />Ending Due Within
<br />$ 34,19000 $ 3,19500 $ 71,41000 $ 3,93500
<br />- 71,489 68,555 42,518
<br />( 260,898) - ( 260,898) 42,518
<br />108,473 1,372,489 301,898 1,380,712
<br />$ 35,597,575 $ 4,638,978 $ 74,899,555 $ 5,400,748
<br />$ 13,14500 $ 4,160,000 $ 104,58000 $ 4,76000
<br />86,522 1,201,102 -
<br />131,266) 1,747,656) -
<br />( 9,925) ( 46,209) -
<br />13,145,000 4,105,331 103,987,237 4,76000
<br />18,905 19,585 -
<br />$ 13,442,929 $ 4,40006 $ 104,224,767 $ 4,76000
<br />The compensated absences liability attributable to the governmental activities will be liquidated
<br />primarily by the General Fund.
<br />Other Information
<br />Benefits Management
<br />The City sponsors an employee benefit plan that provides partially self - insured medical and self -
<br />insured dental coverage to employees and voluntary coverage to their participating dependents.
<br />The plan is designed to provide a specified level of coverage, with excess insurance coverage
<br />provided in both specific and aggregate reinsurance. The City's maximum medical claim
<br />exposure for a specific covered person is limited to $85,000 in claims after meeting an aggregate
<br />deductible of $107,000. Each covered person is subject to a maximum lifetime benefit
<br />reimbursement of $1,000,000 for medical and a maximum annual benefit on dental of $1,250.
<br />Aggregate coverage for the plan based on monthly enrollment limits the total medical claims
<br />exposure.
<br />(continued)
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