: 0 o 8 e e 0 0 0 0 0 0 0 0 0  CITY OF BLOOMINGDALE, GEORGIA  FINANCIAL REPORT  FOR THE FISCAL YEAR ENDED  JUNE 30, 2021    0  )  0 0        CITY OF BLOOMINGDALE, GEORGIA  FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2021 TABLE OF CONTENTS FINANCIAL SECTION  a 0 0  Page 1-3  Independent Auditor's Report.. Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Funds. of Net Position.  5 and 6  Reconciliation of the Balance Sheet of Governmental Funds to the Statement Statement of Revenues, Expenditures and Changes in Fund  0 0 0  Balances - Governmental Funds  Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities. General Fund - Statement of Revenues, Expenditures and Changes in  10 11 12 13 14 and 15 16 17 18-38 39 and 40 41 and 42 43 and 44  Fund Balances - Budget and Actual.. Statement of Net Position - Proprietary Fund. Statement of Revenues, Expenses and Changes in Net Position - Proprietary Fund. Statement of Cash Flows - Proprietary Fund. Statement of Fiduciary Net Position = Fiduciary Fund. Statement of Changes in Fiduciary Net Position - Fiduciary Fund  - 0 a 0  Notes to Financial Statements. Required Supplementary Information:  Schedule of Changes in the City's Net Pension Liability (Asset) and Related Ratios..  Schedule of City Contributions - Retirement Plan.. Schedule of Investment Returns - Retirement Plan... Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - Nonmajor Governmenta. Funds. Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds Schedule of Revenues, Expenditures and Changes in Fund Balances = Budget and Actual - Fire Department Fund. Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Forfeiture Account Fund. Schedule of Expenditures of Special Purpose Local Option Sales Tax..  45 46 47 48 49  C    CITY OF BLOOMINGDALE, GEORGIA  0  FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2021  TABLE OF CONTENTS (CONTINUED)  Page  COMPLIANCE SECTION  Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards.  50 and 51 52 and 53 54  Schedule of Findings and Responses Summary Schedule of Prior Year Findings  - 0 -  O - 0 a -  :  o 0    0 0 : : 0 o o o 0 a 0 0 o o o  FINANCIAL SECTION  -    MAULDIN ENKINS CPAS & ADVISORS  C 0  INDEPENDENT AUDITOR'S REPORT  To the Honorable Mayor and City Council City of Bloomingdale, Georgia Bloomingdale, Georgia Report on the Financial Statements  We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Bloomingdale, Georgia (the "City"), as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively  comprise the City's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements  Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial  statements that are free from material misstatement, whether due to fraud or error.  Auditor's Responsibility  Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit  whether thei financial statements are free from material misstatement.  financial statements. opinions.  6001 CHATHAM CENTER DRIVE, SUITE: 250. SAVANNAH, GEORGIA: 31405-912-232-1622- www.mjepa.com  MEMBERS OF: THE. AMERICAN. INSTITUTE OF CERTIFIED: PUBLICACCOUNTANTS    Opinions  In our opinion the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2021, and the respective changes in financial position and, where applicable, cash flows thereof and the budgetary comparison fort the General Fund for the year then ended in  accordance with accounting principles generally accepted in the United States of America.  Other Matters  Required Supplementary Information  Accounting principles generally accepted in the United States of America require that the Schedule of Changes in the City's Net Pension Liability (Asset). and Related Ratios (on pages 39 and 40), the Schedule of City Contributions - Retirement Plan (on pages 41 and 42), and the Schedule of Investment Returns = Retirement Plan (on pages 43 and 44), be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board ("GASB"), who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with managements responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express Management has omitted the Management's Discussion and Analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the GASB who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing  an opinion or provide any assurance.  information. Other Information  Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The combining and individual nonmajor fund financial statements and schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements of the City. The accompanying schedule of expenditures of special purpose local option sales tax proceeds is presented for purpose of additional analysis as required by the Official Code of Georgia Annotated  (O.C.GA)548-8-121 and is not a required part of the basic financial statements.  2    0 a 0  The combining and individual nonmajor fund financial statements and schedules and the schedule of expenditures of special purpose local option sales tax proceeds are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules and the schedule of expenditures of special purpose local option sales tax proceeds are fairly stated in all material  respects in relation to the basic financial statements as ay whole. Other Reporting Required by Government Auditing Standards  In accordance with Government Auditing Standards, we have also issued our report dated August 9, 2022 on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing  Standards in considering the City's internal control over financial reporting and compliance.  Mlaldi -  Savannah, Georgia August 9, 2022  IBbieRe  3    0  - 0  - -  THIS PAGE INTENTIONALLY LEFT BLANK    C - 0 0 0 :  0 0 0 0 a  BASIC FINANCIAL STATEMENTS    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF NET POSITION JUNE 30, 2021  Primary Government Activities 155,107 (290,877) 70,129 10,147 59,335 2,421,014 4,313,591 9,287 778 70,129 1,218 1,489 82,901 20,836 2,480,349 1,729,505  Governmental Business-type Activities 453,191 20,225 290,877 26,407 121,308 1,194,403 4,830,020 11,040,071 164,067 1,273 26,407 41,706 50,975 284,428 249,101 6,024,423 993,655 8,807 3,479,657  ASSETS  Total 608,298 20,225 96,536 131,455 1,253,738 7,251,034 15,353,662 173,354 2,051 96,536 42,924 52,464 367,329 269,937 8,504,772 993,655 8,807 5,209,162  Cash and cashe equivalents Receivables, net Duef from other governments Internal balances Restricted: assets, cash ando cash equivalents Net pension asset Capital assets: Non-depreciable Depreciable, neto ofa accumulated depreciation Total assets Accounts payable Accrued liabilities Customer deposits Compensated: absences due within one year Compensated: absences duei inr more than oney year Totall liabilities Pension  $ 4,103,640 $ 1,888,736 $ 5,992,376  LIABILITIES  DEFERRED INFLOWS OFF RESOURCES  NETI POSITION  Investmenti inc capital assets Restricted for capital projects Restricted for publics safety Unrestricted Total netp position  10,506,542 $ 4,209,854 $ 14,716,396  The accompanying notes are an integral parto oft these financial statements.  4    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED JUNE 30, 2021  9  Program Revenues Operating Grants and Contributions Contributions  Capital Grants and $ 274,772 55,721 330,493 330,493  Charges for Services 59,238 $ 905,959 606,478 62,869 1,634,544 822,040 822,040 2,456,584 General revenues Salest taxes for general purposes Intangible, transfer and franchise taxes Alcoholic beverage taxes Unrestricted investment earnings Gain on sale of capital assets Miscellaneous Total general revenues Change in net position Net position, beginning ofy year Net position, end of year  Functions/Programs  Expenses $ 890,442 S 1,702,421 1,100,913 125,802 340,330 63,218 4,223,126 705,305 705,305 4,928,431  Primary government Governmental activities General government Publics safety Publicv works Judicial Culture and recreation Housing and development Total governmental: activities Business-type activities Watera and sewer Total business-type activities Total primary government  746,655 746,655 1,000 1,000 747,655  The accompanying notes are ani integral part oft thesef financial statements.  S 0 0 9 :  :  5    Net (Expenses) Revenues and Changes in Net Position Activities  Governmental Business-type Activities (831,204) $ (521,690) 307,941 (125,802) (277,461) (63,218) (1,511,434) (1,511,434) 347,091 1,220,629 305,127 6,471 2,796 203,393 2,085,507 574,073 9,932,469 10,506,542  Total $ (831,204) (521,690) 307,941 (125,802) (277,461) (63,218) (1,511,434) 117,735 117,735 (1,393,699) 347,091 1,220,629 305,127 10,503 2,796 332,267 2,218,413 824,714 13,891,682 14,716,396  117,735 117,735 117,735  4,032 128,874 132,906 250,641 3,959,213 4,209,854  6    CITY OF BLOOMINGDALE, GEORGIA  BALANCE SHEET GOVERNMENTAL FUNDS JUNE 30, 2021  Nonmajor Governmental Governmental Funds 20,643 $ 4,103,640  Total Funds 453,191 20,225 47,123 267,116 26,407  General Fund 330,087 20,225 35,597 267,116 26,407  SPLOST Fund 123,104 11,526  ASSETS  Cash and cash equivalents Receivables, net Inventories Due from other funds Advances to other funds Restricted cash and cash equivalents Total assets  $ 3,159,622 $ 923,375 $  3,839,054 $ 1,058,005 $  20,643 $ 4,917,702  LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES  LIABILITIES Accounts payable Accrued liabilities Due to other governments Customer deposits Due to other funds Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable revenue- taxes FUND BALANCES Nonspendable: Inventories Restricted for: Capital projects Publics safety Unassigned  $ 159,318 $ 1,273 26,407 11,526 198,524  4,749 $  164,067 1,273 26,407 23,362 215,109 59,601 20,225 993,655 8,807 3,620,305 4,642,992  11,836 11,836  4.749 59,601  20,225 3,620,305 3,640,530  993,655 993,655  8,807 8,807  Total fund balances Totall liabilities, deferred inflows of resources and fund balances  3,839,054 $ 1,058,005 $  20,643 $ 4,917,702  The accompanying notes are ani integral part of these financial statements.  7    CITY OF BLOOMINGDALE, GEORGIA TO THE STATEMENT OF NET POSITION  RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS  JUNE 30, 2021  Amounts reported for governmental activities int the Statement of Net Position are different because: Capital assets used ing governmental: activities are not financial resources and, therefore, are not Certain long-term liabilities are not due and payable in the current period and, therefore, are not  Total governmental fund balances. reported in the funds. reported in the funds: Compensated absences Net pension asset  $  4,642,992 6,024,423  (92,681) 121,308 (249,101) 59,601 10,506,542  Certain pension related deferred inflows are not reported in the funds. Certain revenues are not available to pay for current period expenditures and, therefore, are reported as deferred inflows of resources int the funds. Net position of governmental activities.  $  The accompanying notes are an integral part of these financial statements.  8    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Nonmajor Governmental Governmental Funds $  Total Funds $ 1,905,437 59,238 1,066,443 349,114 1,235,077 8,291 203,393 4,826,993 749,064 124,677 1,591,967 850,548 270,204 63,218 579,347 4,229,025 597,968 8,600 (8,600) 597,968 4,045,024  General Fund $ 1,905,437 $ 59,238 321,609 349,114 1,226,193 6,471 203,307 4,071,369 749,064 124,677 1,591,242 850,548 270,204 63,218 3,648,953 422,416 (8,600) (8,600) 413,816 3,226,714  SPLOST Fund  Revenues Taxes Licenses and permits Intergovernmental Fines and forfeitures Charges for services Interest income Miscellaneous Total revenues Expenditures Current: General government Judicial Public safety Public works Culture and recreation Housing and development Capital outlay Total expenditures  744,834 1,820 31 746,685  8,884 55 8,939  725  579,347 579,347 167,338 8,600 8,600 175,938 817,717  725 8,214  Excess of revenues over expenditures Other financing sources (uses) Transfers in Transfers out  Total other financing sources (uses), net Net change int fund balances Fund balances, beginning of year Fund balances, end of year  8,214 593 8,807 $ 4,642,992  3,640,530 $ 993,655 $  The accompanying notes are ani integral part of these financial statements.  9    CITY OF BLOOMINGDALE, GEORGIA  RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS  TO THE STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Amounts reported for governmental activities int the Statement of Activities are different because: Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost oft those assets is allocated over their estimated useful lives and reported as depreciation  Net change int fund balances total governmental funds.  $  597,968  expense: Capital outlay Depreciation expense as revenues in the funds. Compensated absences tot the pension plan  481,807 (486,899) (32,590) 3,837 9,950 574,073  Revenues in the Statement of Activities that do not provide current financial resources are not reported Some expenses reported int the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds: Net pension liability, deferred outflows of resources, and deferred inflows of resources related  Change in net position governmenta activities  $  The accompanying notes are ani integral part of these financial statements.  10    -  CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 2021  GENERAL FUND  Budget Original 34,240 202,104 637,000 15,000 1,002,000 223,875 3,611,935 16,300 563,338 579,638 126,464 126,464 1,309,745 456,217 1,765,962 822,041 822,041 234,617 234,617 83,213 83,213 3,611,935  Variance With Final Budget 24,998 119,505 (287,886) (8,529) 224,193 (20,568) 459,434 (2,518) (166,908) (169,426) 1,787 1,787 172,621 2.099 174,720 (28,507) (28,507) (35,587) (35,587) 19,995 19,995 (37,018) 422,416 (8,600) (8,600) 413,816  Final 34,240 202,104 637,000 15,000 1,002,000 223,875 3,611,935 16,300 563,338 579,638 126,464 126,464 1,309,745 456,217 1,765,962 822,041 822,041 234,617 234,617 83,213 83,213 3,611,935  Actual 59,238 321,609 349,114 6,471 1,226,193 203,307 4,071,369 18,818 730,246 749,064 124,677 124,677 1,137,124 454,118 1,591,242 850,548 850,548 270,204 270,204 63,218 63,218 3,648,953 422,416 (8,600) (8.600) 413,816 3,226,714  Revenues Taxes Licenses and permits Intergovernmental Fines and forfeitures Interest Charges fors services Miscellaneous Total revenues Expenditures Current General government Mayor and council Administration Total general government Judicial: Municipal court Total judicial Publics safety: Police Fire Total public safety Public works: Public maintenance Total public works Culture and recreation: Recreation Total culture and recreation Housing and development: Building and: zoning Total housing and development Total expenditures Excess ofr revenues over expenditures Other financing uses Transfers out Total other financing uses Net changei inf fund balances Fund balances, beginning ofy year Fund balances, end of year  1,497,716 $ 1,497,716 $ 1,905,437 $ 407,721  3,226,714  3,226,714  $ 3,226,714 $ 3,226,714 $ 3,640,530 S 413,816  The accompanying notes are ani integral part of these financial statements.  11    0 a 0 0 0 0 a  CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF NET POSITION PROPRIETARY FUND JUNE 30, 2021  Water and Sewer Fund $ 1,888,736 70,129 155,107 2,113,972 10,147 59,335 2,421,014 2,490,496 4,604,468  ASSETS  CURRENT ASSETS Cash and cashe equivalents Restricted cash and cash equivalents Accounts receivable, net Total current assets NON-CURRENT ASSETS Net pension asset Capital assets Non-depreciable Depreciable, net ofa accumulated depreciation Total non-current assets Total assets  LIABILITIES  CURRENT LIABILITIES, PAYABLE FROM CURRENT ASSETS Accounts payable Other accrued liabilities Duet to other funds Current portion of compensated absences Total current! liabilities, payable from current assets CURRENT LIABILITIES, PAYABLE FROMI RESTRICTED ASSETS Customer deposits LONG-TERM LIABILITIES Advance from other funds Compensated absences Totall long-term liabilities Totall liabilities  9,287 778 23,761 1,218 35,044 70,129 70,129 267,116 1,489 268,605 373,778 20,836 2,480,349 1,729,505 4,209,854  Total current iabilities, payable from restricted assets  0  DEFERRED INFLOWS OF RESOURCES  Pension Investment in capital assets Unrestricted Total netp position  NET POSITION  The accompanying notes are ani integral part of these financial statements.  12    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION PROPRIETARY FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Water and Sewer Fund $ 361,034 461,006 128,874 950,914 88,801 49,708 76,564 37,564 54,368 307,005 94,092 75,622 92,787 37,564 64,572 33,663 398,300 705,305 245,609 4,032 4,032 249,641 1,000 250,641 3,959,213 4,209,854  OPERATING REVENUE Water charges Sewer charges Otheri income Total operating revenues OPERATING EXPENSES Water operating expenses: Personal services Purchased: and contracted services Materials and supplies Interfund charges Depreciation Total operating expenses: water Sewer operating expenses: Personal services Purchased and contracted services Materials and supplies Interfund charges Depreciation Amortization Total operating expenses - sewer Total operating expenses Operating income NON-OPERATING REVENUES Interest income Total non-operating revenues Income before capital contributions CAPITAL CONTRIBUTIONS Change in net position Net position, beginning of year Net position, end of year  The accompanying notes are ani integral part of these financial statements.  13    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF CASH FLOWS PROPRIETARY FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Water and Sewer Fund $ 900,225 (435,240) (176,705) 288,280 1,000 1,000 4,032 4,032 293,312 1,665,553 1,958,865 $ 1,888,736 70,129 1,958,865  CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers and users Payments to suppliers Payments to employees Net cash provided by operating activities CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Capital contributions Net cash provided by capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Interest received Net cash provided by investing activities Net increase in cash Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year Classified as: Cash and cash equivalents Restricted current cash and cash equivalents  (Continued)  14    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF CASH FLOWS PROPRIETARY FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Water and Sewer Fund $ 245,609  Reconciliation of operating income to net cash provided by operating activities Operating income Adjustments tor reconcile operating income to net cash provided by operating activities Depreciation and amortization Change in assets and liabilities: Increase in accounts receivable Increase in net pension asset Decrease in deferred outflows of resources Increase in accounts payable Decrease in accrued liabilities Increase in customer deposits Increase in compensated absences Decrease in due to other funds Increasei in deferredi inflows of resources Net cash provided by operating activities  152,603 (66,321) (16,405) 2,485 1,291 (1,444) 15,632 1,394 (65,278) 18,714 $ 288,280  The accompanying notes are ani integral part of these financial statements.  15    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF FIDUCIARY NET POSITION  FIDUCIARY FUND JUNE 30, 2021  Employees' Retirement Program Pension Fund $ 52,045 2,122,264 2,174,309 2,174,309  ASSETS  Cash and cash equivalents Investments, atf fair value Exchange traded funds Total assets Held int trust for pension benefits  NET POSITION  16    CITY OF BLOOMINGDALE, GEORGIA STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FOR THE FISCAL YEAR ENDED JUNE 30, 2021  FIDUCIARY FUND  Employees' Retirement Program Pension Fund $ 116,115  ADDITIONS Contributions: Employer Total contributions Net appreciation inf fair value ofi investments Investment income Net investment earnings Total additions Benefits paid to participants Administrative expense Total deductions Change in net position Net position, beginning of year Net position, end ofy year  302,568 41,680 344,248 460,363 47,472 17,231 64,703 395,660 1,778,649 2,174,309  DEDUCTIONS  The accompanying notes are an integral part oft these financial statements.  17    CITY OF BLOOMINGDALE, GEORGIA NOTES TO FINANCIAL STATEMENTS  JUNE 30, 2021  NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  The financial statements of the City of Bloomingdale, Georgia (the "City") have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") as applied to governmental units. The Governmental Accounting Standards Board ("GASB") is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below:  A. Reporting Entity  The City is a municipal corporation governed by an elected mayor and six-member governing council (the "Council). The accompanying financial statements present the City and its component units, entities for which the City is considered to be financially accountable. Blended component units are, in substance, part of the primary government's operations, even though they are legally separate entities. Thus, blended component units are appropriately presented as funds of the primary government. Currently, the City has no blended component units. Each discretely presented component unit is reported in a separate column in the government-wide financial statements to emphasize that it is legally separate from the City. Currently, the City has no  discretely presented component units.  B. Government-wide and Fund Financial Statements  The government-wide. financial statements (.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government and its For the most part, the effect of interfund activity has been removed from these statements, however interfund services provided and used are not eliminated in the process of consolidation. Government-wide financial statements do not provide information by fund, but distinguish between Governmental activities, which are normally supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for services. The statement of net position includes non-current assets and non-current liabilities. In addition, the government-wide statement of activities reflects depreciation expense on  component units.  the City's governmental activities and business-type activities.  the City's capital assets.  18    NOTES TO FINANCIAL STATEMENTS  NOTE 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) B. Government-wide and Fund Financial Statements (Continued) The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers ora applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not Separate financial statements are provided for governmental funds and proprietary funds. Major individual governmental funds and major individual enterprise funds are reported as separate C. Measurement Focus, Basis of Accounting and Basis of Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are generally recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when Property taxes, sales taxes, franchise taxes, licenses, and investment income associated with the current fiscal period are all considered to be susceptible to accrual and sO have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and  considered program revenues are reported instead as general revenues.  columns in the fund financial statements.  as alle eligibility requirements imposed by the provider have been met.  payment is due.  available only when cash is received by the City.  19    NOTES TO FINANCIAL STATEMENTS  NOTE 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) C. Measurement Focus, Basis of Accounting and Basis of Presentation  (Continued)  The City reports the following major governmental funds:  The General Fund is the City's primary operating fund. It accounts for all financial resources of the The Special Purpose Local Option Sales Tax Fund ("SPLOST") is used to account for the revenues  general government, except those required to be accounted for in another fund. and expenditures relating to the 1% Special Purpose Local Option Sales Tax.  The City reports the following major proprietary fund:  The Water and Sewer Fund accounts for the activities necessary to provide water and sewer  services to the City's residents.  Additionally, the City reports the following fund types:  The special revenue funds account for revenue sources that are legally restricted to expenditures The pension trust fund accounts for the accumulation of resources for pension benefit payments to Amounts reported as program revenues include: 1) charges for services provided, 2) operating grants and contributions, and 3) capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the enterprise funds are charges for goods and services provided. Operating expenses of the enterprise funds include the cost of these goods and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this When both restricted and unrestricted resources are available for use, it is the City's policy to use  for specific purposes. qualified employees.  include all taxes.  definition are reported as non-operating revenues and expenses. restricted resources first, then unrestricted resources as they are needed.  20    NOTES TO FINANCIAL STATEMENTS  NOTE 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  D. Budgets  Annual appropriated budgets are adopted for all funds. The budgets for the proprietary funds are for management control purposes and are not required to be reported. Budgets of governmental funds are adopted on a modified accrual basis, which is consistent with accounting principles generally accepted in the United States of America for governmental funds. All appropriations lapse at fiscal year-end. Encumbrance accounting (under which purchase orders, contracts and other commitments for the expenditure of resources are recorded to reserve that portion of the applicable  appropriation) is not employed by the City. E. Cash and Investments  Cash and cash equivalents include cash on hand, demand deposits, and short-term investments with an original maturity of three months or less from the date of acquisition. State statutes authorize the City to invest in the following: 1) obligations of Georgia or any other state; 2) obligations of the United States; 3) obligations fully insured or guaranteed by the United States government or one of its agencies; 4) obligations of any corporation of the United States government; 5) prime bankers' acceptances; 6) the State of Georgia local government investment pool; 7) repurchase agreements; and 8) obligations of any other political subdivisions of the State of Georgia. Any investment or deposit in excess of the federal depository insured amounts must be collateralized by an equivalent amount of state or U.S. obligations. Investments are reported at fair  value.  F. Receivables and Payables  Activity between funds that is representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either "due to/from other funds" (.e., the current portion of interfund loans) or "advances to/from other funds (i.e., the non-current portion of interfund loans). Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as "internal balances."  G. Prepaid Items  Payments made to vendors for services that will benefit periods beyond June 30, 2021, are recorded as prepaid items in both government-wide. and fund financial statements. Prepaid items  are accounted for using the consumption method.  21    NOTES TO FINANCIAL STATEMENTS  NOTE 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  H. Capital Assets  Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or business-type activities column in the government-wide financial statements. Capital assets are defined by the City as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at their acquisition value at the date The cost of normal maintenance and repairs that do not add to the value of the asset or materially Capital assets of the City are depreciated using the straight-line method over the following  of donation.  extend asset lives are not capitalized. estimated useful lives:  Assets  Years 50 20 5-30 6 10-65  Buildings and system Improvements other than buildings Machinery and equipment Vehicles Infrastructure I.  Compensated Absences  Employees earn vacation leave at the rate of six days per year for the first year of service up to a maximum of 25 days per year after five years of service. A maximum of twenty days may be carried over into an employee's next service year. Any unused, accrued vacation leave in excess of twenty days from service year to service year will be forfeited. Employees resigning voluntarily andi in good standing will be paid for earned but unused vacation leave. All vacation leave is accrued when incurred in the government-wide, proprietary, and fiduciary fund financial statements. A liability for these amounts is reported in governmental funds only ift they have matured, for example, as a result Employees accrue personal leave at the rate of four hours per month to a maximum of 48 hours per year. Employees are allowed to carry 801 to 160 hours personal leave based on year of services. An employee who resigns or is discharged from City service will not be paid for any unused personal leave. The City does not record a liability for vested personal leave benefits. Expenses are  ofemployee resignations and retirements.  recognized in thet financial statements at the time of payment.  22    - 0  NOTES TO FINANCIAL STATEMENTS  NOTE1 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  J.  Long-Term Obligations  In_th the government-wide. financial statements, and proprietary fund types in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net position. Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the term of the bonds using the effective interest method. Bonds payable are reported net of the applicable discount or premium. Bond issuance costs are expensed in the period incurred. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as  debt service expenditures. K. Fund Equity  Fund equity at the governmental fund financial reporting level is classified as "fund balance." Fund Fund Balance = Generally, fund balance represents the difference between the assets and liabilities under the current financial resources measurement focus of accounting. In the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Fund balances are classified as Nonspendable Fund balances are reported as nonspendable when amounts cannot be spent because they are either: a) not in spendable form (i.e., items that are not expected to be converted to cash), or b) legally or contractually required to be maintained intact. Restricted - Fund balances are reported as restricted when there are limitations imposed on their use either through the enabling legislation adopted by the City or through external restrictions imposed by creditors, grantors or laws or regulations of other governments. Committed - Fund balances are reported as committed when they can be used only for specific purposes pursuant to constraints imposed by formal action of the City Council through the adoption of a resolution. Only the City Council may modify or rescind the commitment.  equity for all other reporting is classified as "net position."  follows:  23    NOTES TO FINANCIAL STATEMENTS  NOTE1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  K. Fund Equity (Continued) Fund Balance - (Continued)  Assigned - Fund balances are reported as assigned when amounts are constrained by the City's intent to be used for specific purposes, but are neither restricted nor committed. Unassigned - Fund balances are reported as unassigned as the residual amount when the balances do not meet any of the above criterion. The City reports positive unassigned fund balance only in the General Fund. Negative unassigned fund balances may be reported in all Flow Assumptions - When both restricted and unrestricted amounts of fund balance are available for use for expenditures incurred, it is the City's policy to use restricted amounts first and then unrestricted amounts as they are needed. For unrestricted amounts of fund balance, it is the City's policy to use fund balance in the following order: 1) committed, 2) assigned, and 3) unassigned. Net Position - Net position represents the difference between assets and liabilities in reporting which utilizes the economic resources measurement focus. Net investment in capital assets consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowing used (.e., the amount that the City has spent) for the acquisition, construction or improvement of those assets. Net position is reported as restricted using the same definition as used for restricted fund balance as described in the section above. All other net position is reported The City applies restricted resources first when an expense is incurred for purposes for which both  funds.  as unrestricted.  restricted and unrestricted net positions are available. Management Estimates  L.  The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenditureslexpenses during the reporting period. Actual results could differ from those estimates.  24    NOTES TO FINANCIAL STATEMENTS  NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  M. Deferred Outflows/Inflows of Resources  Ina addition to assets, the statement of net position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and, therefore, will not be recognized as an outflow of resources expenselexpendture) until then. The City has no Ina addition to liabilities, the statement of net position and the governmental funds balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position or fund balance that applies to a future period(s) and, therefore, will not be recognized as an inflow of resources (revenue) until that time. The City has three. items that qualify for reporting in this category, one of which arises only under the modified accrual basis of accounting. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from taxes and these amounts are deferred and will be recognized as an inflow of resources in the period in which the amounts become available. The other items relate to the City's retirement plan and is reported in the government-wide statement of net position. The net difference between projected and actual earnings on pension plan investments is deferred and amortized against pension expense over a five-year period resulting in recognition as a deferred inflow of resources. Experience differences are deferred and amortized against pension expense over a five-year period, resulting in recognition as a deferred  deferred outflows of resources at year-end.  inflow of resources. N. Pensions  For purposes of measuring the net pension liability (asset), deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City of Bloomingdale Retirement Plan (the Retirement Plan") and additions to/deductions from the Retirement Plan's fiduciary net position have been determined on the same basis as they are reported by the respective plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance  with the benefit terms. Investments are reported at fair value.  25    NOTES TO FINANCIAL STATEMENTS  NOTE 2. LEGAL COMPLIANCE - BUDGETS  A. Budgetary Information  All governmental fund budgets are prepared on a basis consistent with generally accepted The appropriated budget is prepared by fund, function, and department. The City Council may transfer funds from one object or purpose to another within the same department. The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed appropriations) is the department level. The City Council may amend the budget by motion during thei fiscal year. Budget appropriations presented in this report include all legally adopted appropriations as  accounting principles.  amended during the fiscal year.  B. Excess of Expenditures over Appropriations  For the year ended June 30, 2021, expenditures exceeded appropriations at the legal level of  budgetary control as follows: General fund:  General government- - Mayor and Council General government Administration Public works Public maintenance Culture and recreation Recreation  $  2,518 166,908 28,507 35,587  These over expenditures were funded primarily by underspending in other departments and  unbudgeted revenues.  26    NOTES TO FINANCIAL STATEMENTS  NOTE 3.  DEPOSITS AND INVESTMENTS  Total deposits and investments as of June 30, 2021, are summarized as follows: Amounts as presented on the entity wide statement of net position: Amounts as presented on the statement of fiduciary net position:  Cash and cash equivalents Restricted cash and cash equivalents Cash Exchange traded funds Total  $  5,992,376 96,536 52,045 2,122,264 8,263,221 6,140,957 2,122,264 8,263,221  $ $ $  Cash deposited with financial institutions Investments in exchange traded funds  Total  As of June 30, 2021, the carrying amount of the City's deposits was $6,088,912 and the bank Credit risk. State statutes authorize the City to invest in obligations of the State of Georgia or other states; obligations issued by the U.S. government; obligations fully insured or guaranteed by the U.S. government or by a government agency of the United States; obligations of any corporation of the U.S. government; prime bankers' acceptances; the local government investment pool established by state law; repurchase agreements; and obligations of other political subdivisions of the State of Georgia. It is the City's policy to limit its investments to those allowed and authorized As of June 30, 2021, the City had investments in Exchange-Traded Products ("ETPs") in the Interest Rate Risk. As a means of limiting its exposure to fair value losses arising from rising interest rates, the City's investment policy generally limits all operating investments to instruments that mature within one year. Asset investment funds shall be diversified to eliminate risk of loss resulting from the concentration of assets in a specific maturity, a specific issuer or a specific class  balance was $6,384,845.  by state law.  amount of $2,122,264. All maturities for the ETPS were less than one year.  of maturities.  27    NOTES TO FINANCIAL STATEMENTS  NOTE: 3.  DEPOSITS AND INVESTMENTS (CONTINUED)  Custodial Credit Risk - Deposits. Custodial risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover deposits or will not be able to recover collateral securities that are in the possession of an outside party. State statutes require all deposits and investments (other than federal and state government instruments) to be collateralized by depository insurance, obligations of the U.S. government, or bonds of public authorities, counties, or municipalities. As of June 30, 2021, the City's deposits were fully Fair Value Measurements. All of the City's investments fall under Level 1 in the fair value hierarchy and are valued using prices quoted in active market for those securities.  collateralized in compliance with the state requirements.  NOTE 4. RECEIVABLES  In the governmental funds, the net receivables collected during the year ended June 30, 2021, and expected to be collected by August 31, 2021, are recognized as revenues for the year ended June 30, 2021, whereas, net receivables estimated to be collectible subsequent to August 31, 2021, Receivables at June 30, 2021, for the City's individual major and nonmajor funds in the aggregate,  are recorded as revenue when received.  D 0  including the applicable allowances for uncollectible accounts are as follows:  Water $ 155,999  General $ 119,434 $ 375,653  SPLOST and Sewer  Total $ 119,434 531,652 123,104 (165,892)  Receivables Taxes Accounts Due from other governments Less allowance for uncollectibles Net total receivable  0 0 o o -  123,104  (165,000)  (892)  330,087 $ 123,104 $ 155,107 $ 608,298  -  28    - 9  NOTES TO FINANCIAL STATEMENTS  NOTE: 5.  CAPITAL ASSETS  Capital asset activity for thei fiscal year ended June 30, 2021, is as follows:  Beginning Balance $ 1,131,404 $ 62,999 1,194,403 1,870,849 966,647 1,319,783 1,234,704 4,752,129 10,144,112 (654,256) (523,423) (1,053,467) (1,026,015) (2,051,839) (5,309,000) 4,835,112 6,029,515 $  Ending Balance $ 1,131,404 62,999 1,194,403 1,946,262 966,647 1,368,587 1,258,410 4,884,563 10,424,469 (699,142) (577,818) (1,106,347) (907,746) (2,303,396) (5,594,449) 4,830,020 6,024,423  Increases  Decreases $  Transfers $  Governmental activities Capital assets, not being depreciated: Land Construction in progress Total Capital assets, being depreciated: Buildings Improvements other than buildings Machinery and equipment Vehicles Infrastructure Total Less accumulated depreciation for: Buildings Improvements other than buildings Machinery and equipment Vehicles Infrastructure Total Total capital assets, being depreciated, net Governmental activities capital assets, net  75,413 48,804 225,156 132,434 481,807 (44,886). (54,395). (52,880) (83,181) (251,557) (486,899) (5,092) (5,092) $  (201,450) (201,450)  201,450 201,450  $  - 0 o o 0 0  29    NOTES TO FINANCIAL STATEMENTS  NOTE 5. CAPITAL ASSETS (CONTINUED)  Beginning Balance $  Ending Balance $  Increases  Decreases $  Transfers  Business-type activities Capital assets, not being depreciated: Land Total Capital assets, being depreciated: Buildings and system Machinery ande equipment Vehicles Water treatment capacity Total Less accumulated depreciation for: Buildings and system Machinery and equipment Vehicles Water treatment capacity Total Total capital assets, being depreciated, net Business-type activities capital assets, net  59,335 $ 59,335 3,886,060 619,231 69,400 1,683,147 6,257,838 (2,497,304) (456,424) (69,400) (661,093) (3,684,221) 2,573,617  59,335 59,335 3,886,060 619,231 69,400 1,683,147 6,257,838 (2,575,539) (497,129) (69,400) (694,756) (3,836,824) 2,421,014 $ 2,480,349  (78,235) (40,705) (33,663) (152,603) (152,603)  2,632,952 $ (152,603) $  Depreciation expense was charged to functions of the City as follows:  Governmental activities General government Public safety Public works Culture and recreation Judicial Total governmental activities Business-type activities Water Sewer  $ 48,379 114,454 252,815 70,126 1,125 486,899 $ 54,368 64,572 118,940  Total governmental activities  30    NOTES TO FINANCIAL STATEMENTS  NOTE 6. COMPENSATED ABSENCES  The compensated absences activity for the year ended June 30, 2021, was as follows:  Beginning Balance  Ending Balance  Due Within One Year 41,706 1,218  Additions  Reductions  Governmental activities Compensated absences $ Business-type activities Compensated absences $  96,518 $ 1,313 $  74,404 $ 4,188 $  (78,241) $ (2,794) $  92,681 $ 2,707 $  For governmental activities, compensated absences are generally liquidated by the General Fund.  NOTE7. INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS  The composition of interfund balances as of June 30, 2021, is as follows:  Receivable Fund  Payable Fund Water and Sewer Fund Nonmajor Governmental Funds General Fund  Amount $ 23,761 11,836 11,526 $ 47,123 Amount $ 267,116  General Fund General Fund SPLOST  Receivable Fund  Payable Fund Water and Sewer Fund  General Fund  These balances resulted from time lag between the dates the: 1) interfund goods and services are provided or reimbursable expenditures occur, 2) transactions are recorded in the accounting system, and 3) payments between funds are made. Advances to/from other funds represent amounts not expected to be repaid within one year from the date of the financial statements.  31    NOTES TO FINANCIAL STATEMENTS  NOTE7. INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS (CONTINUED)  The composition of interfund transfers as of June 30, 2021, is as follows:  Transfers In  Transfers Out General Fund  Amount $ 8,600  SPLOST Fund  Transfers are used to: 1) move revenues from the fund that statute or budget requires collecting them to the fund that statute or budget requires to expend them, and 2) use unrestricted revenues collected in the General Fund to finance various programs in other funds in accordance with  budgetary authorizations.  NOTE 8. PENSION PLAN  Plan Description  The City of Bloomingdale Defined Benefit Plan (the. "Plan") is a single-employer defined benefit pension plan covering all full-time employees, elected officials, and appointed positions who have attained age 21 and completed one year of service. The Plan provides retirement, disability, death and termination benefits to plan members and beneficiaries. The City administers the Plan, and responsibilities include pension disbursements and general administration of the Plan through oversight of the City's Pension Board. The City's Pension Board consists of the City's elected officials appointed to the City's budget and finance committee, the City's department heads and the City attorney. The Pension Board has contracted with Raymond James & Associates Inc. to act as custodian of the assets of the Plan. The accounting and financial reporting functions are performed by the City's finance department. The City's General Fund bears most of the Plan's administrative  costs.  Benefits Provided  The Plan provides retirement benefits for its members. Benefits vest after five years of service. Normal retirement benefits for general plan members are calculated as 1% of the average monthly compensation multiplied by the number of years of service, plus 0.375% of average monthly compensation in excess of $833, multiplied by the number of years of service, up to a maximum of 35 years. Average monthly compensation is the quotient of the total compensation of a participant during the 60 consecutive calendar month period of service of highest compensation.  32    NOTES TO FINANCIAL STATEMENTS  NOTE 8. PENSION PLAN (CONTINUED)  Benefits Provided (Continued)  For years of service rendered as an elected official or appointed position, the benefit shall be $10 per month for each year of service earned as an elected official or appointed position prior to January 1, 2014, plus $30 per month for each year of service earned as an elected official or Normal retirement age is the later of attainment of age 62 or the fifth anniversary of plan participation, or if earlier, attainment of age 57 and 25 years of service. Employees who have attained age 55 with ten or more years of service have the option for early retirement benefits. The  appointed position after December 31, 2013.  Plan also provides for disability and termination benefits.  The Plan's benefit provisions are established and amended by local ordinance.  Employee Participation  At. June 30, 2021, the following employees were covered by the Plan: Inactive plan members or beneficiaries currently receiving benefits Inactive plan members entitled to, but not receiving benefits  4 5 39 48  Active plan members  Total  Contributions  The City is required to contribute at an actuarially determined rate; the current rate is 8.95% of annual covered payroll. The City contributes such additional amounts as are necessary, based on actuarial valuations, to provide the Plan with sufficient assets to meet future benefit payments. In 2021, the City contributed $116,115 (7.75% of covered payroll). Employees do not contribute to the Plan. Total payroll for employees covered under the Plan for the year ended June 30, 2021, was  $1,497,862.  Net Pension Liability (Asset)  The City's net pension asset was measured as of June 30, 2021. The total pension liability used to calculate the net pension asset was determined by an actuarial valuation as of July 1, 2020, with update procedures performed by the actuary to rolli forward to the total pension liability measured as  of June 30, 2021.  33    NOTES TO FINANCIAL STATEMENTS  NOTE 8.  PENSION PLAN (CONTINUED) Net Pension Liability (Asset) (Continued)  Actuarial assumptions. The total pension liability in the July 1, 2020, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the  measurement:  Inflation Salary increases Investment rate of return  3.00% 5.00% 7.50%  Mortality rates were based on the 1994 Group Annuity Reserving Tale, projected to 2002. The actuarial assumptions used in the June 30, 2021 valuation were based on the results of the last actuarial experience study dated February 19, 2014. The result was rolled forward using standard The discount rate used to measure the total pension liability was 7.50%. The projection of cash flows used to determine the discount rate assumed that the City's contributions will be made at the current contribution rate. Based on those assumptions, the Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current and active employees. Therefore, the long-term expected rate of return on Plan investments was applied to all The long-term expected rate of return on pension plan investments was determined using the building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investments expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the Plan's target asset allocation as of July 1, 2020, are summarized in the  actuarial techniques to the measurement date.  periods of projected benefit payments to determine the total pension liability.  following table:  Long-term expected real rate of return 7.50% 7.50 7.50  Target allocation 40% 10% 43% 7% 100%  Asset class  Domestic equity International equity Domestic fixed income Cash  Total 34    NOTES TO FINANCIAL STATEMENTS  NOTE 8. PENSION PLAN (CONTINUED)  Net Pension Liability (Asset) (Continued)  Changes in the Net Pension Liability (Asset) of the City. The changes in the components oft the net  pension asset of the City for the year ended June 30, 2021, were as follows:  Total Pension Liability (a) $ 1,931,128 $ 130,735 152,892 (124,429)  Plan Fiduciary Net Position (b) 1,778,649 $  Net Pension Liability (Asset) (a)-(b) 152,479 130,735 152,892 (124,429) (116,115) (344,248) 17,231 (283,934) (131,455)  Beginning Balance Changes fort the year Service cost Interest Differences between expected and actual experience Contributions employer Net investment income Benefit payments, including refunds ofe employee contributions Administrative expense Net changes Ending Balance  116,115 344,248 (47,472) (17,231) 395,660 2,174,309 $  (47,472) 111,726 2,042,854 $  $  The required schedule of changes in the City's net pension liability (asset). and related ratios immediately following the notes to the financial statements presents multi-year trend information about whether the value of plan assets is increasing or decreasing over time relative to the total Sensitivity of the net pension asset to changes in the discount rate. The following presents the net pension asset of the City, calculated using the discount rate of 7.5%, as well as what the City's net pension asset would be ifit were calculated using a discount rate that is -percentage-point lower  pension liability.  (6.5%)or1 -percentage-point higher (8.5%) than the current rate:  Current Discount Rate (7.5%) (131,455) $  1% Decrease (6.5%) $ (62,555) $  1% Increase (8.5%) (196,455)  City's net pension asset  35    NOTES TO FINANCIAL STATEMENTS  NOTE 8. PENSION PLAN (CONTINUED)  Net Pension Liability (Asset) (Continued)  Sensitivity of the net pension asset to changes in the discount rate (Continued). Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability ofevents fari into the future, and actuarially determined amounts are subject to continual revision as results are compared to past expectations and new estimates are made about the future. Actuarial calculations reflect a long-term perspective. Calculations are based on the substantive plan in effect as of June 30, 2021, and the current sharing pattern of costs between employer and Pension Expense and Deferred Outflow and Inflow of Resources Related to For the year ended June 30, 2021, the City recognized pension expense of $110,959 and deferred  employee. Pensions  inflows of resources related to the pension plan as follows:  Deferred Inflows of Resources $ (144,420) (125,517) (269,937)  Differences between expected and actual experience Net difference between projected and actual earnings  on pension plan investments  Total  The deferred inflows of resources willl be recognized in pension expense as follows:  Year ending June 30, 2022 2023 2024 2025 2026 Thereafter Total  $  (54,941) (59,255) (58,048) (60,644) (15,058) (21,991) (269,937)  36    NOTES TO FINANCIAL STATEMENTS  NOTE 9.  DEFINED CONTRIBUTION PENSION PLAN  The City of Bloomingdale Defined Contribution Benefit Plan (the "Plan") is a single employer defined contribution plan established and administered by City Council for substantially all of its full-time employees. The Plan provides retirement and death benefits to Plan participants and beneficiaries. Plan provisions and contribution requirements are established and may be amended by City Employees are not required to contribute to the Plan. The City contributes an amount equal to 8.23% of each participant's compensation. For the fiscal year ended June 30, 2021, the City's  Council.  contribution tot the Plan was $127,343.  NOTE 10. JOINT VENTURE  Under Georgia law, the City, in conjunction with other cities and counties in the coastal Georgia area, is a member of the Coastal Regional Commission ("CRC") and is required to pay annual dues thereto. During the year ended June 30, 2021, the City paid $3,855 in such dues. Membership in the CRC is required by the Official Code of Georgia Annotated ("O.C.G.A.") $50-8-34 which provides for the organizational structure of regional development commissions in Georgia. The CRC Board membership includes the chief elected official of each county and municipality of the area. O.C.G.A. $50-8-39.1 provides that the member governments are liable for any debts or obligations of a regional development commission. Separate financial statements may be obtained from the  Coastal Regional Commission, P.O. Box 1917, Brunswick, Georgia 31521.  NOTE 11. RISK MANAGEMENT  The City is exposed to various risks of losses related to: torts; thefts of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The City has joined together with other municipalities in the state as part of the Georgia Interlocal Risk Management Agency Property and Liability Insurance Fund and the Georgia Municipal Association Group Self- Insurance Workers' Compensation Fund, public entity risk pools currently operating as common risk As part of these risk pools, the City is obligated to pay all contributions and assessments as prescribed by the pools, to cooperate with the pool's agents and attorneys, to follow loss reduction procedures established by the funds, and to report as promptly as possible, and in accordance with any coverage descriptions issued, all incidents which could result in the funds being required to pay any claim of loss. The City is also to allow the pools' agents and attorneys to represent the City in investigation, settlement discussions and all levels of litigation arising out of any claim made against  management and insurance programs for member local governments.  the City within the scope of loss protection furnished by the funds.  37    NOTES TO FINANCIAL STATEMENTS  NOTE 11. RISK MANAGEMENT (CONTINUED)  The funds are to defend and protect the members of the funds against liability or loss as prescribed in the member City contract and in accordance with the workers' compensation law of Georgia. The funds are to pay all cost taxed against members in any legal proceeding defended by the members, all interest accruing after entry ofj judgment, and all expenses incurred for investigation, negotiation or defense. Settled claims in the past three years have not exceeded the coverages.  NOTE 12. COMMITMENTS AND CONTINGENCIES  Litigation  The City is a defendant in certain legal actions in the nature of claims for alleged damages to persons and property and other similar types of actions arising in the course of City operations. Liability, if any, which might result from these proceedings, would not, in the opinion of management and legal counsel, have a material adverse effect on the financial position of the City.  Grant Contingencies  The City has received federal and state grants for specific purposes that are subject to review and audit by the grantor agencies. Such audits could lead to the disallowance of certain expenditures previously reimbursed by those agencies. Based upon prior experience, management of the City  believes such disallowances, lifany, will not be significant.  38    -  0 0 - -  THIS PAGE INTENTIONALLY LEFT BLANK    REQUIRED SUPPLEMENTARY INFORMATION    CITY OF BLOOMINGDALE, GEORGIA REQUIRED SUPPLEMENTARY INFORMATION FOR THE FISCAL YEARS ENDED JUNE 30,  SCHEDULE OF CHANGES IN THE CITY'S NET PENSION LIABILITY (ASSET)  AND RELATED RATIOS  2021 $ 130,735 $ 133,325 152,892 (124,429) (47,472) 111,726 1,931,128 2,042,854 116,115 344,248 (47,472) (17,231) 395,660 1,778,649 2,174,309  2020 135,356 43,560 (103,209) 209,032 1,722,096 1,931,128 180,744 76,362 (103,209). (13,041) 140,856 1,637,793 1,778,649  2019 $ 135,649 124,878 (33,102) (68,196) 159,229 1,562,867 1,722,096 138,736 95,842 (68,196) (11,183) 155,199 1,482,594 1,637,793 84,303  Total pension liability Service cost Interest on total pension liability Differences between expected and actual experience Benefit payments, including refunds ofemployee contributions Net change int total pension liability Total pension liability- beginning Total pension liability ending (a) Plan fiduciary net position Contributions employer Net investment income Benefit payments, including refunds ofr member contributions Administrative expenses Net change in plan fiduciary net position Plan fiduciary net position beginning Plani fiduciary net position ending (b) City's net pension liability (asset)- ending (a)-(b) Plan fiduciary net position as a percentage of the total pension liability Covered payroll Net pension liability (asset) as a percentage of covered payroll Notes to the Schedule:  (131,455) $ 152,479  106.43%  92.1%  95.1% 1,422,187 5.9%  $ 1,497,862 $ 1,488,826  -8.78%  10.2%  The schedule will present 10 years ofi information once itis accumulated.  39    2018 109,736 (4,996) (9,860) 203,345 1,359,522 1,562,867 121,431 75,080 (9,860) (13,929) 172,722 1,309,872 1,482,594  2017 107,861 (51,698) (264,779) (100,151) 1,459,673 1,359,522 123,112 95,395 (264,779) (13,141) (59,413) 1,369,285 1,309,872  2016 116,009 (69,018) (263,436) (102,274) 1,561,947 1,459,673 134,304 105,664 (263,436) (13,415) (36,883) 1,406,168 1,369,285  2015 113,165 (18,921) (80,855) 139,087 1,422,860 1,561,947 124,920 54,710 (80,855) (13,901) 84,874 1,321,294 1,406,168  2014 104,899 (68,879) (23,198) 114,365 1,308,495 1,422,860 104,770 165,890 (23,198) (11,635) 235,827 1,085,467 1,321,294  P 108,465 $ 108,465 $ 114,171 $ 125,698 $ 101,543  $ 80,273 $ 49,650 $ 90,388 $ 155,779 $ 101,566  94.9%  96.3%  93.8%  90.0% 1,305,039 11.9%  92.9% 1,249,083 8.1%  1,446,826 $ 1,135,450 $ 1,179,505  5.5%  4.4%  7.7%  40    CITY OF BLOOMINGDALE, GEORGIA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CITY CONTRIBUTIONS- FOR THE FISCAL YEARS ENDED JUNE 30,  RETIREMENT PLAN  2021 $ 139,892 $ 116,115 $ 23,777 $  2020 134,737 $ 180,744 (46,007) $  2019 137,942 138,736 (794)  Actuarially determined contribution Contributions in relation to the actuarially determined contribution Contribution deficiency (excess) Covered payroll Contributions as a percentage of covered payroll Notes to the Schedule: Valuation Date Cost Method Assumed Rate of Return Onl Investments Projected Salary Increases Inflation Amortization Method Remaining Amortization Period  $ 1,497,862 $ 1,488,826 $ 1,422,187  7.8%  12.1%  9.8%  July 1,2020 Entry Age Normal 7.50% 5.00% 3.00% 15) years  Closed level percentage of projected payroll over 15 years  The schedule will present 10 years of information once iti is accumulated.  41    2018  2017  2016  2015  2014  $ 108,497 $ 117,341 $ 134,134 $ 123,101 $ 114,375  121,431 (12,934) $  123,112 (5,771) $  134,304 (170) $  124,920 (1,819) $  104,770 9,605  $  $ 1,446,826 $ 1,135,450 $ 1,179,505 $ 1,305,039 $ 1,249,083  8.4%  10.8%  11.4%  9.6%  8.4%  42    CITY OF BLOOMINGDALE, GEORGIA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF INVESTMENT RETURNS- FOR THE FISCAL YEARS ENDED JUNE 30,  RETIREMENT PLAN  2021 19.21%  2020 4.67%  2019 6.29%  Annual money weighted rate of return, net of investment expense Notes to the Schedule:  The schedule will present 10 years of information once iti is accumulated.  43    2018 5.49%  2017 7.53%  2016 8.09%  2015 4.05%  2014 14.88%  44    THIS PAGE INTENTIONALLY LEFT BLANK    COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES    CITY OF BLOOMINGDALE, GEORGIA NONMAJOR GOVERNMENTAL FUNDS  Special Revenue Funds  The Fire Department Fund accounts for fund raising efforts by the City's fire department and related expenditure of The Forfeiture Account Fund accounts for forfeited assets awarded to the City and the related expenditures.  those funds.    CITY OF BLOOMINGDALE, GEORGIA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE: 30, 2021  Special Revenue  Total Nonmajor Governmental Funds 20,643 20,643  Forfeiture Account Fund 19,186 $ 19,186 $  Fire Department $ 1,457 $ $ 1,457 $  ASSETS  Cash and cash equivalents Totala assets  LIABILITIES AND FUNDI BALANCE  LIABILITIES Due to otherf funds Totall liabilities FUNDI BALANCE Restricted for: Publics safety Totalf fund balances Totall liabilities and fund balances  $  11,836 $ 11,836 7,350 7,350 19,186 $  11,836 11,836 8,807 8,807 20,643  1,457 1,457 1,457 $  45    CITY OF BLOOMINGDALE, GEORGIA CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED JUNE 30, 2021  COMBINING STATEMENT OF REVENUES, EXPENDITURES AND  Special Revenue  Total Nonmajor Governmental Funds 8,884 55 8,939 725 725 8,214 593 8,807  Forfeiture Account Fund $ 55 55  Fire Department $  REVENUES Fines and forfeitures Miscellaneous Total revenues EXPENDITURES Current: Publics safety Totale expenditures Net change int fund balances Fund balance (deficit), beginning ofy year Fund balance, end of year  8,884 $ 8,884 725 725 8,159 (809) 7,350 $  55 1,402 1,457 $  $  46    CITY OF BLOOMINGDALE, GEORGIA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND. ACTUAL FIRE DEPARTMENT FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Budget Original $ 1,000 $ 1,000 1,000 1,000 1,402 1,402 $  Variance With Actual Final Budget 55 $ (945) 55 (945) 1,000 1,000 55 55  Final 1,000 $ 1,000 1,000 1,000 1,402 1,402 $  Revenues Miscellanous Total revenues Expenditures Current: Public safety Total expenditures Net change inf fund balance Fund balance, beginning of year Fund balance, end ofy year  55 1,402 1,457 $  47    CITY OF BLOOMINGDALE, GEORGIA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FORFEITURE ACCOUNT FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Budget Original 1,000 $ 1,000 1,000 1,000 (809) (809) $  Variance With Final Budget 7,884 7,884 275 275 8,159 8,159  Final 1,000 $ 1,000 1,000 1,000 (809) (809) $  Actual 8,884 $ 8,884 725 725 8,159 (809) 7,350 $  Revenues Fines and forfeitures Totalr revenues Expenditures Current: Public safety Totale expenditures Net change inf fund balance (deficit) Fund balance (deficit), beginning of year Fund balance, end of year  48    CITY OF BLOOMINGDALE, GEORGIA SCHEDULE OF EXPENDITURES OF SPECIAL PURPOSE LOCAL OPTION SALES TAX FOR THE FISCAL YEAR ENDED JUNE 30, 2021  Original Estimated Cost  Current Estimated Cost  Prior Years  Current Year $ 116,096 8,729 691,327 221,311 467,332 49,006 128,077 3,000 22,224 536,949 6,915 84,251 3,689 279,538  Project  Total $ 579,307  2014 Resolution General government: General administration equipment Rentall houser renovations Publics safety: Equipment Publicy works: Equipment Streetr resurfacing Jimmy DeLoach Parkway relocation Waterr meterr replacement project School pumps station upgrade Debts service interest Drainage projects: Phase III drainage project Recreation: Veterans monument Gym Railst tot trails Equipment Totals  3,200,000 $ 3,200,000 $  695,403 8,729 691,327 221,311 467,332 49,006 128,077 3,000 22,224 536,949 6,955 84,251 3,689 279,538  40  3,200,000 $ 3,200,000 $ 2,618,444 $ 579,347 $ 3,197,791  49    0  THIS PAGE INTENTIONALLY LEFT BLANK    COMPLIANCE SECTION    MAULDIN ENKINS CPAs & ADVISORS  INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT  OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE  WITH GOVERMMENT AUDITING STANDARDS  Tot the Honorable Mayor and City Council City of Bloomingdale, Georgia Bloomingdale, Georgia  We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Bloomingdale, Georgia (the "City"), as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the City's basic financial statements and have issued our report thereon dated August 9, 2022.  Internal Control Over Financial Reporting  In planning and performing our audit of the financial statements, we considered the City's internal control over financial reporting (internal control) as a basis for designing the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion Ad deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A: significant deficiencyis a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and, therefore, material weaknesses or significant deficiencies may exist that have not been identified. We did identify a certain deficiency in internal control described in the accompanying schedule of findings and  on the effectiveness of the City's internal control.  merit attention by those charged with governance.  responses as 2021-001 that we consider to be a significant deficiency.  6001 CHATHAMCENTER DRIVE, SUITE2S0-SAVANMAIL, GEORGIA 31405-912-232-1622- www.mjcpa. com  MEMBERS OF THE. AMERICAN. INSTITUTE OF CERTIFIED PUBLICACCOUNTANTS    Compliance and Other Matters  As part of obtaining reasonable assurance about whether the City's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or  other matters that are required to be reported under Government Auditing Standards.  The City's Response to the Finding  The City's response to the finding identified in our audit are described in the accompanying schedule of findings and responses. The City's response was not subjected to the auditing procedures applied in the audit of the financial  statements and, accordingly, we express no opinion on it.  Purpose of this Report  The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any  other purpose.  Mauldn #BrkiekRe  Savannah, Georgia August 9, 2022  51    CITY OF BLOOMINGDALE, GEORGIA SCHEDULE OF FINDINGS AND RESPONSES FOR THE FISCAL YEAR ENDED JUNE 30, 2021  SECTIONI  SUMMARY OF AUDIT RESULTS  Financial Statements Type of auditor's report issued Internal control over financial reporting: Material weaknesses identified? Significant deficiencies identified not considered tol be material weaknesses? Noncompliance material to financial statements noted?  Unmodified  Yes X None Reported  X_Yes Yes XNo  No  Federal Awards being less than $750,000.  There was not an audit of major federal award programs as of June 30, 2021, due to the total amount expended  SECTION II  FINANCIAL STATEMENT FINDINGS  2021-001 - General Accounting Matters - SPLOST Fund  Criteria: Generally accepted accounting principles require appropriate balances to be recognized in the accounting period in which they become both measurable and available. Further, a fundamental principle in accounting and financial reporting is the notion of timely recognition and recording of financial and non-financial transactions and Condition/ Context: The SPLOST fund cash, receivables, unavailable revenue and revenue balances were Cause: The City has experienced significant turnover during the past few years, resulting in the need for Effect: Adjustments to increase cash, receivables, unavailable revenue and revenue in the amount of $59,601 were Recommendation: We recommend the City cross train employees sO that in situations where employee turnover occurs, all employees are well versed in the City's operations. Additionally, hiring a third-party accountant or accounting firm, with governmental accounting experience, to help the City prepare for the audit and possibly assist  activities.  understated in the amount of $59,601.  adjustments to certain accounts well after year-end. required to correct the respective balances at year-end.  with routine monthly close-out procedures would be beneficial.  52    CITY OF BLOOMINGDALE, GEORGIA SCHEDULE OF FINDINGS AND RESPONSES FOR THE FISCAL YEAR ENDED JUNE 30, 2021  SECTION II  FINANCIAL STATEMENT FINDINGS (CONTINUED)  2021-001 - General Accounting Matters - SPLOST Fund (Continued) most cost effective option for addressing the above recommendation.  Views of Responsible Officials and Planned Corrective Action: We concur with the finding and will explore the  SECTION III  FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS  Not applicable.  53    CITY OF BLOOMINGDALE, GEORGIA SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS FOR THE FISCAL YEAR ENDED JUNE 30, 2021 STATUS OF PRIOR YEAR AUDIT FINDINGS  2020-001 - Recording Accounts Payable  Criteria: The City's general ledger is the official record of financial transactions. All accounts payable should be recorded in accordance with generally accepted accounting principles and to ensure accurate financial reporting. Condition: During our testing of accounts payable, we noted numerous payables were not recorded.  Status: Resolved.  54