06-1659 Comprehensive Annual F - Laserfiche WebLink

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THE REPORTING ENTITY AND ITS SERVICES The funds and entities related to the City of Casselberry, included in the Comprehensive Annual Financial Report, are controlled by or dependent on the City. Determination of "controlled by or dependent on" is based on criteria and disclosure requirements of Governmental Accounting Standards Board Statement Number 14 Defining the Reporting Entity. The criteria deal with the selection of governing authority, designation of management, and ability to significantly influence operations and accountability for fiscal matters. Based on these criteria, the various funds shown in the Table of Contents are included in this report. This report, together with the accounting and budgeting systems, have been designed to conform to the standards set forth by the Governmental Accounting Standards Board and the American Institute of Certified Public Accountants. Fund structure has also been designed to comply with the legal requirements of the various revenue bond covenants and resolutions. MAJOR INITIATIVES During fiscal year 2005, several significant actions occurred within the City that will impact the community going forward. Items of interest are highlighted below: . Development negotiations progressed with Unicorp National Developments, Inc. for construction of a "City Center" on the 15.3 acre parcel at Triplet Lake Drive and U.S. Hwy. 17-92. . The City purchased the Concord Center, a 2-acre parcel on Lake Concord, for $2.25 million. The property will be marketed for sale and future retail development. Property on Wilshire Boulevard was also purchased for $650,000 as the future replacement site for Fire Station 25. . The Florida Department of Transportation approved the concept for signalization and realignment of Plumosa Avenue and U.S. Hwy. 17-92. . New high service pumps and electrical systems were installed at the South and Howell Park water production plants replacing pumps that were more than 25 years old. The new pumps will be more efficient reducing electrical costs and will substantially enhance the reliability and service to our citizens. . The Florida Department of Environmental Protection issued the Hunterfield Water Storage & Repump Facilities construction permit, which will allow the City to bid same and begin construction to provide enhanced water service in the Hunterfield Road area of the City. . Agreement was made between the City and the St. Johns River Water Management District to participate in the Seminole County Water Supply Plan Development. This will allow the analysis and evaluation of existing water supply sources to maximize their potential and determine the most feasible and economical future water supply sources in Seminole County. . Annexations included the BICH property on S.R. 436 (2.9 acres), the Century Realty Funds property on U.S. Highway 17-92 (.75 acre) an additional parcel on U.S. 17-92 to be used to enlarge Plumosa Oaks Park (1 acre), and 14.3 acres on North Winter Park Drive/Belle Avenue, which will be used as part of the North Winter Park Drive realignment project, scheduled to commence in 2006. . Three parcels totaling .88 acres on North Winter Park Drive were purchased for stormwater retention and drainage in that area. . Final site plan and plat approvals led to the installation of groundwork construction for the Legacy Park development, a multi-use community of 150 town homes and 187 single family units, as well as retail businesses and a small community center. VI