City of Edmond, Oklahoma • Fiscal Year Ending June 30, 2014

CELEBRATING

YEARST U R N I N G T H E P A G E O F P R O S P E R I T Y

two thousand fourte e n

C I T I Z E N ’ S R E P O R T

table of contents

Edmond's Numbers 12

General Fund 14

Long-Term Debt 18

Edmond's Top Employers 20

Economic Outlook 22

Director’s Letter 2

City Council & Ward Map 4

Statement of Net Position 6

Change in Net Position 8

Edmond's Sales Tax 10

1

We are pleased to present our Citizens Report for the fiscal ending June 30, 2014. This Citizen’s Report is a condensed version of our Comprehensive Annual Financial Report (CAFR), both of which are located on our website edmondok.com/budget/reports.

The details in this Citizen’s report summarize our City’s financial position based on the audited financial documents contained in the 2014 Comprehensive Annual Financial Report (CAFR).

The CAFR is prepared in accordance with generally accepted accounting principles; this report is in summary form and excludes the City’s discretely presented component units: the Edmond Economic Development Authority (EEDA) and the Edmond Historical Preservation Trust (EHPT).

The City of Edmond provides a wide range of municipal services, includ-ing police and fire protection, the construction and maintenance of streets, highways and other infrastructure, and a multitude of recreational and cultural events throughout the year. The City also provides electric, water, wastewater, drainage, and solid waste services to its residents under the legal entity of the Edmond Public Works Authority. Additional detailed financial information on these operations may be found in the City’s CAFR in the Notes 1.A in the notes to the financial statements.

The City continued to improve its financial condition in its main general revenue source – sales tax. With an unprecedented growth last fiscal year, the City’s collections in FY13-14 rouse another 2.7% over last year- setting a record high in sales tax revenue. Our rising population, along with strong retail expansions, provided for a greater-than-expected growth. More detailed information about the City’s sales tax collections can be found in the CAFR.

Another area of growth seen by the citizens this last fiscal year was the opening of several major projects. The Mitch Park YMCA /Competition pool opened February 2014 and has seen record numbers in attendance and membership with the YMCA. The City partnered with the YMCA and Edmond Public Schools on this endeavor. Other projects that were completed and opened to the public were the Edmond 66 Softball complex park, along with the kids splash pad located at the Barnett Park. Citizens have also seen the Kelly road widening project from Covell to Coffee Creek. Work has also continued on the development of the I-35 & Covell Hotel/Conference Center with ground breaking set for January, 2015. Finally, the City’s skyline has seen a big change downtown with the construction of the multi-million dollar Public Safety Center project, which is set for completion in mid-2015.

As you review the report, we invite you to share any questions, concerns or comments you may have. You may contact the Financial Services Department at 4 0 5 . 3 59.4 52 1 or visit the City Manager’s office at 24 E. First Street. The fully disclosed audited CAFR and summarized PAFR may be found online at edmondok.com/budget/reports.

Respectfully,

Ross VanderHammDirector of Financial Services/City Clerk

DEAR CITIZENS OF EDMOND,

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■ Darrell Davis Council Member Ward 3 May 2013–17darrell.davis@edmondok.com

■ Victoria CaldwellCouncil Member Ward 1 May 2011–15victoria.caldwell@edmondok.com

■ Elizabeth WanerCouncil Member Ward 2May 2011–15ebwaner@gmail.com

■ Nick MasseyCouncil Member Ward 4May 2013–17nick.massey@edmondok.com

Charles LambMayorMay 2013–15chukolamb@aol.com

Edmond City Council

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Capital Assets: The accounting treatment of property, plant and equipment (capital assets) depends on whether the assets are used in governmental fund type or proprietary fund operations.

Net Investment in capital assets: This component of net assets consists of capital assets, including restricted capital assets, net of accumulated deprecia-tion and reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. Restricted Net Position: Restricted assets include both current and non-current assets that are legally restricted as to their use such as those externally imposed by creditors, laws or regulations or by law through constitutional provisions.

Investments: Investments are reported depending on their type. For a list of all investments and their how their value was reported, see our CAFR, 1.D. section.

Long-Term Debt: The long-term debt consists primarily of accrued compensated absences, general obligation bonds payable, and revenue bonds payable.

Deferred Outflows/Inflows of Resources: Deferred outflows represents a consumption of net position that applies to a future period and will not be recog-nized as an expense/expenditure until then. Deferred inflows represents an acquisition of net position that applies to a future period and will not be recognized as revenue until that time.

Governmental Activities

Business-Type Activities

Totals

2 0 1 4 2 0 1 3 2 0 1 4 2 0 1 3 2 0 1 4 2 0 1 3

Current assets $ 1 1 5 ,7 2 2 $ 1 1 1 , 3 3 3 $ 9 0 , 2 5 6 $ 8 6 , 24 3 $ 2 0 5 , 9 7 8 $ 1 9 7, 5 76

Capital assets, net 2 7 0 , 5 5 8 2 5 3 , 176 2 1 8 , 5 24 2 1 0 , 3 3 8 4 8 9, 0 8 2 4 6 3 , 514

Other non-current assets 9, 6 8 3 1 0 , 5 5 7 6 , 3 0 7 7, 5 74 1 5 , 9 9 0 1 8 , 1 3 1

Total assets 3 9 5 , 9 6 3 3 7 5 , 0 6 6 3 1 5 , 0 8 7 3 0 4 , 1 5 5 7 1 1 , 0 5 0 6 7 9, 2 2 1

Deferred Outflows 8 7 0 6 9 6 1 , 8 5 8 1 , 0 6 1 2 ,7 2 8 1 ,7 5 7

Current liabilities 2 9,7 1 5 2 5 , 24 5 1 9, 0 7 9 17, 9 4 5 4 8 ,7 9 4 4 3 , 1 9 0

Non-current liabilities 7 0 , 6 4 0 74 , 8 4 4 5 2 , 5 4 0 5 6 , 51 5 1 2 3 , 1 8 0 1 3 1 , 3 5 9

Total liabilities 1 0 0 , 3 5 5 1 0 0 , 0 8 9 7 1 , 6 1 9 74 , 4 6 0 17 1 , 9 74 174 , 5 49

Deferred Inflows 1 , 5 6 0 1 , 9 2 3 1 , 0 4 3 1 , 2 9 6 2 , 6 0 3 3 , 2 1 9

Net assets

Net Investment in capital assets 2 0 0 ,7 9 5 17 9, 0 8 2 1 6 6 , 2 6 5 1 5 2 , 6 5 7 3 6 7, 0 6 0 3 3 1 ,7 3 9

Restricted 74 , 5 4 8 7 7, 4 8 1 1 2 , 6 6 6 1 3 , 1 6 2 8 7, 2 14 9 0 , 6 4 3

Unrestricted 1 9, 5 7 5 17, 1 8 7 6 5 , 3 5 2 6 3 , 6 42 8 4 , 9 2 7 8 0 , 8 2 9

Total net position $ 2 9 4 , 9 1 8 $ 2 7 3 ,7 5 0 $ 24 4 , 2 8 3 $ 2 2 9, 4 6 1 $ 5 3 9, 2 0 1 $ 5 0 3 , 2 1 1

Statement of Net Position The governmental activities net position for fiscal year ending June 30, 2014, reflect an increase over prior year's net position. The business-type activities also reflect an increase in net position. The full disclosed Statement of Net Position can be located in our CAFR located at edmondok.com/budget/reports.

Unrestricted net position refers to all other net position that is not restricted or net investments in capital assets.

This represents the amount of unexpended and available resources the City has in funds combined at a point in time to fund emergencies, shortfalls or other unexpected needs. This allows management to track the City's financial position over time.

DEFINITIONS

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These numbers represent the available funds to pay for emergencies, shortfalls or other unexpected

needs in both the Governmental and Business Type Activities for the fiscal year ended June 30, 2014.

19.5 65.3

Net Position Unrestricted

$

$ Governmental Activities

Business-Type Activities

Totals

2 0 1 4 2 0 1 3 2 0 1 4 2 0 1 3 2 0 1 4 2 0 1 3

Current assets $ 1 1 5 ,7 2 2 $ 1 1 1 , 3 3 3 $ 9 0 , 2 5 6 $ 8 6 , 24 3 $ 2 0 5 , 9 7 8 $ 1 9 7, 5 76

Capital assets, net 2 7 0 , 5 5 8 2 5 3 , 176 2 1 8 , 5 24 2 1 0 , 3 3 8 4 8 9, 0 8 2 4 6 3 , 514

Other non-current assets 9, 6 8 3 1 0 , 5 5 7 6 , 3 0 7 7, 5 74 1 5 , 9 9 0 1 8 , 1 3 1

Total assets 3 9 5 , 9 6 3 3 7 5 , 0 6 6 3 1 5 , 0 8 7 3 0 4 , 1 5 5 7 1 1 , 0 5 0 6 7 9, 2 2 1

Deferred Outflows 8 7 0 6 9 6 1 , 8 5 8 1 , 0 6 1 2 ,7 2 8 1 ,7 5 7

Current liabilities 2 9,7 1 5 2 5 , 24 5 1 9, 0 7 9 17, 9 4 5 4 8 ,7 9 4 4 3 , 1 9 0

Non-current liabilities 7 0 , 6 4 0 74 , 8 4 4 5 2 , 5 4 0 5 6 , 51 5 1 2 3 , 1 8 0 1 3 1 , 3 5 9

Total liabilities 1 0 0 , 3 5 5 1 0 0 , 0 8 9 7 1 , 6 1 9 74 , 4 6 0 17 1 , 9 74 174 , 5 49

Deferred Inflows 1 , 5 6 0 1 , 9 2 3 1 , 0 4 3 1 , 2 9 6 2 , 6 0 3 3 , 2 1 9

Net assets

Net Investment in capital assets 2 0 0 ,7 9 5 17 9, 0 8 2 1 6 6 , 2 6 5 1 5 2 , 6 5 7 3 6 7, 0 6 0 3 3 1 ,7 3 9

Restricted 74 , 5 4 8 7 7, 4 8 1 1 2 , 6 6 6 1 3 , 1 6 2 8 7, 2 14 9 0 , 6 4 3

Unrestricted 1 9, 5 7 5 17, 1 8 7 6 5 , 3 5 2 6 3 , 6 42 8 4 , 9 2 7 8 0 , 8 2 9

Total net position $ 2 9 4 , 9 1 8 $ 2 7 3 ,7 5 0 $ 24 4 , 2 8 3 $ 2 2 9, 4 6 1 $ 5 3 9, 2 0 1 $ 5 0 3 , 2 1 1

g ov e r n m e n ta l ac t i v i t i e sSales tax, franchise fees, fines, state and federal grants

finance most of the City's services.

General Administrative Services

Fire

Police

Street Construction & Repair

Park Maintenance

b u s i n e s s-t y p e ac t i v i t i e sIncome from resident utility bills, public golf course and

lake fees finance business-type operations.

Electricity

Water

Drainage

Wastewater

Solid Waste

KickingBird Golf Course

Arcadia Lake

Transportation Services

7

The results indicate the City, as a whole, increased in total net position of $36 million is a combination of less grant contributing and expenses staying in line with revenue collections.

*Does not include transfers.

This summary report excludes transfers. Transfers are used to support Government services. For full disclosure see our CAFR note section 3.F Interfund Balances and Activities.

NOTES

$0In Thousands

2013 20142012

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2010 2011

g ov e r n m e n ta l ac t i v i t i e s *The City’s governmental activities’ increase in net

position of $21 million represents a 16% decrease

from the prior year’s change in net position and is

primarily the result of less capital grant contribu-

tions. Total expenses for governmental activities

amounted to $73.1 million. Of these total expenses,

taxes and other general revenues funded $71.1mil-

lion, while those directly benefiting from the program

funded $12.5 million in grants and other contribu-

tions and $10.6 million from charges for services.

Revenues Expenses

Revenues Expenses

$0

20142010 2011 2012 2013

40,000

20,000

60,000

80,000

100,000

120,000

140,000

In Thousands

b u s i n e s s-t y p e ac t i v i t i e s *The City's business type activities reported net

revenues of $14.8 million for the year. All individual

activities reported net revenue for the year. Significant

increase in net revenue was recognized in the electric,

water, and wastewater operations due to delay in capital

projects and management of operating expenses.

The business-type activities’ showed a significant

increase in net revenue for drainage and was due

to a capital grant contribution to offset the expense

spent in FY2013.

Change in Net Position

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Edmond’s Sales Tax s u p p o r t s c i t y s e r v i c e s

8.25%

s a l e s ta x b r e a k d ow n

The State of Oklahoma tax rate is 4.5% and is added to the 3.75% City’s sales tax rate that is levied on all taxable sales within the City. It is recorded as follows:

Two cents recorded within the General Fund.

One eighth cent recorded as revenue within the Park Sales Tax Fund to account for operations and facility improvement costs of the City’s park and recreation system.

Three quarter cent recorded as revenue within the 2000 Capital Improvement Tax Fund to account for capital improvements as recommended to the City Council by the Capital Projects & Financing Task Force.

One quarter cent recorded as revenue within the Fire Public Safety Limited Tax Fund to account for improvements to the fire department per voter approval.

One eighth cent recorded as revenue within the Police Public Safety Limited Tax Fund to account for improvements to the police department per voter approval.

One half cent recorded as revenue within the 2012 Capital Improvement Tax Fund-Public Safety Center to account for building the Public Safety Center per voter approval.

s u r r o u n d i n g c i t i e s

8.50% Mustang

8.50% Yukon

8.375% Oklahoma City

8.35% Midwest City

8.25% Moore

8.00% Norman

The City provides a wide range of municipal services, including police and fire protection, the construction and maintenance of highways, streets, and other infrastructure. The City also provides electric, water, wastewater, drainage and solid waste services to its residents under the legal entity of the Edmond Public Works Authority (EPWA). The City also provides a multitude of recreational and cultural events through-out the year. The City’s Kickingbird Golf Course, Arcadia Lake and many City parks provides hours of entertainment to our citizens.

CITY SERVICES

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WHERE DOES THE MONEY COME FROM? WHERE DOES THE MONEY GO?

1 1

g ov e r n m e n ta l r e v e n u e by s o u r c e g ov e r n m e n ta l ac t i v i t i e s u s e s

70%13%

1 1%

3 % 3 %

59%18%

8 %

3 % 3 %

Sales and Use Taxes

Grants

Charges of Service

Franchise & Hotel/Motel Taxes

Other

Public Safety

Streets & Highways

General Government

Culture, Parks and Recreation

Interest on Long-Term Debt

Health & Welfare

9 %

1 2

2335c i t y r ec r e at i o n a l pa r ksm e d i a n ag e o f p o p u l at i o n

f i r e s e x t i n g u i s h e d

1 3

20247%r e s i d e n t s w i t h

c o l l eg e d eg r e e s o r h i g h e r

$0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

$35,000,000

$40,000,000

20142012 20132010 2011

Sales and Use Taxes

All other Revenues

General Fund

2014 2013 2012 2011 2010

5,209,315 5,002,157 4,551,403 4,537,796 3,872,823

2,430,540 2,340,481 2,173,006 2,344,616 2,042,573

448,630 1,889,896 1,891,825 1,708,104 1,974,819

4,204,333 4,135,376 3,784,739 3,288,899 3,105,684

4,436,186 4,350,720 4,164,797 3,920,453 3,098,018

660,012 399,249 1,020,451 1,017,337 415,073

17,389,016 18,117,879 17,586,221 16,817,205 14,508,990

2014 2013 2012 2011 2010

36,065,782 34,403,578 31,299,351 28,917,747 27,484,883

5,840,154 5,850,591 5,646,433 2,341,305 5,489,487

2,099,735 2,053,931 2,068,170 344,968 2,097,681

2,311,150 2,199,488 2,106,551 2,062,607 1,885,284

2,155,268 2,299,771 2,394,576 5,725,602 1,670,754

1,608,680 1,389,282 1,450,110 2,436,202 1,083,211

- 391,664 1,082,107 345,208

238,605 296,144 233,175 91,822 204,481

91,653 54,923 77,904 262,851 68,734

50,411,027 48,547,708 45,667,934 43,265,211 40,329,723

g e n e r a l f u n d r e v e n u e s *

g e n e r a l f u n d e x p e n d i t u r e s *

* These graphs do not include transfers. Chart reflects direct operating revenues and expenses. **Hotel/Motel revenues beginning in 2013 are now being reported in it own newly created fund.

Beginning in 2014, Citylink Transportation has been removed from the General Fund and is now an Enterprise Fund, both Revenues and Expenditures were moved.

Sales and Use Taxes

Charges for Services

Fines and Forfeitures

Franchise & Public Service Tax

Intergovernmental

Licenses and Permits

** Hotel/Motel Taxes

Miscellaneous

Investment Income

General Government

Public Safety

Health and Welfare

Culture, Parks and Recreation

Streets and Highways

Capital Outlay

The General Fund is the primary operating fund for City services. It is used for all activities except those legally or administratively required to be accounted for in other funds.

NOTES

14

g e n e r a l f u n d r e v e n u e s

Sales and Use Taxes Of the 3 ¾ cent sales tax on taxable sales within the City, 2 cents is recorded as revenue in the General Fund. Use tax is if you have purchased items for use in Oklahoma from retailers who do not collect Oklahoma sales tax, you owe Oklahoma use tax on those items. Use tax is paid by the buyer when the Oklahoma sales tax has not been collected by the seller. This includes purchases made from an out-of-state retailer whether by mail order, catalog, television shopping networks, radio, Internet, phone or in person.

Charges for Services Includes all revenues collected on services provided through the General Fund, such as planning filing fees, cemetery revenues, right-of-way fees, Animal Welfare fees, 911 service fee, aquatic center admissions season passes, recreation program fees and other miscellaneous charges.

Fines and Forfeitures Includes all court fines and fees, and building code violations.

Franchise and Public Service Taxes Includes fees assessed for private use of public property.

Intergovernmental Activities of two or more governments including revenues such as alcoholic beverage tax, cigarette tax, county – property resale, grants, commercial vehicle tax, and gasoline excise tax.

Licenses and Permits Includes all permits and licenses required by the City including engineering inspections fees, occupational licenses, contrac-tor registration, food handling licenses, oil and gas fees, public safety revenues including plumbing, building, electrical, heat/air, furniture stocking, fixture stocking, fire permits, miscel-laneous permits, contractor registration, re-inspection fees, temporary certificate of occupancy, building inspection fees, sign permits, and commercial plan review fees.

Miscellaneous Items that are not covered by any of the aforementioned categories.

Investment IncomeRevenue earned from our investment portfolio.

g e n e r a l f u n d e x p e n d i t u r e s

General Government Includes city council, municipal court, planning, Downtown Community Center and airport maintenance and repairs.

Public Safety Expenditures within the funds that support the safety of our citizens, such as police, fire, emergency management, and animal welfare.

Health and Welfare Includes code enforcement, family services, and social services.

Culture, Parks and Recreation Includes maintenance and administration of 26 parks/play-grounds, pool, sports fields, Festival Marketplace, Edmond Land Conservancy Inc., recreation programs, Senior Center, Gracelawn Cemetery, and Edmond Historical Preservation and Trust.

Streets and Highways Street rehabilitation and resurfacing, and upkeep of the medians.

Capital Outlay Expenditures for assets that are intended to be held or used for a extended period of time. Includes land, land improvements, building, building improvements, machinery, equipment, and furniture and fixtures. Also includes infrastructure such as streets, sidewalks, culverts, curbs, roads and bridges. It is tangible in nature and must be excess of $5,000 per item. Starting July, 1, 2014, this amount was increased to $7,500. per item.

General Fund e x p l a n at i o n o f t e r m s

1 5

General Fund u n a s s i g n e d f u n d b a l a n c e

The ‘unassigned’ fund balance is an indication of the amount of available resources the City has at a point in time to fund emergencies, shortfalls or other unexpected needs. In this analysis only the General Fund information is reported. In our model, 10% is considered a minimum responsible level, while 30% is considered responsible. As you can see by the above chart, we have tightened up and were able to exceed that 10% responsible level. We continue to strive toward the 30% level. See our complete disclosed information in our CAFR Basic Financial Statements.

NOTES

3

6

9

12

15

0%2010 2011 2013 20142012

1 6

17

At fiscal year end, the City had $126.9 million in long-term debt outstanding which represents a $10.1 million or 7% decrease from prior year.

In 2014, the City issued series 2014 Sales Tax and Utility Revenue Refunding Bonds to advance refund the 2003 B and 2004 bond series. The City com-pleted the advance refunding to reduce its total debt service payments over the next ten years and to obtain an economic gain of 2,699,908. See our complete disclosed information in our CAFR, Notes section 3E, Longterm Debt.

** These series represent refundings that have benefitted the City in an economic gain.

NOTES

Long-Term Debt

$ 3 ,13 1 $ 2 ,9 9 3 $ 62 2 $ 5 73 $ 3 ,7 5 3 $ 3 ,5 6 6 5 %

67, 8 2 1 73 , 26 0 3 7, 8 9 5 42 ,4 0 0 10 5,716 1 15,6 6 0 - 9 %

17,52 2 17, 8 9 1 17,52 2 17, 8 9 1 -2 %

$70,9 52 $76 , 2 5 3 $ 5 6 ,0 3 9 $ 6 0, 8 6 4 $1 26 ,9 9 1 $13 7,1 17 -7 %

g o v e r n m e n ta l b u s i n e s s -t y p e a c t i v i t i e s a c t i v i t i e s Totals

2 0 14 2 0 1 3 2 0 14 2 0 1 3 2 0 14 2 0 1 3 % of Change

Accrued absences

Revenue bonds*

Note payable

Total (Thousands)

r e v e n u e b o n d s paya b l e: g ov e r n m e n ta l ac t i v i t i e s * All bonds are secured by utility revenues and pledged sales tax

$ in Thousands

Series Sales Tax & Original Utility System Bonds Issue Amount Original Date Final Maturity Total

2 0 0 5 3 0 , 0 0 0 1 2 / 1 / 2 0 0 6 7/ 1 / 2 0 2 6 2 2 , 51 5 2 0 1 0 1 3 , 9 0 0 1 2 / 3 0 / 2 0 1 0 7/ 1 / 2 0 2 1 1 0 , 9 7 0 * * 2 0 1 2 1 3 , 2 5 5 8 / 16 / 2 0 1 2 7/ 1 / 2 0 2 3 1 3 , 0 3 0 * * 2 0 1 3 1 3 ,7 1 0 5 / 14 / 2 0 1 3 7/ 1 / 2 0 2 3 1 3 ,7 1 0 * * 2 0 14 1 2 , 6 4 5 4 / 3 / 2 0 14 7/ 1 / 2 0 24 1 2 , 51 1

$ 6 7, 8 2 1

r e v e n u e b o n d s paya b l e: b u s i n e s s-t y p e ac t i v i t i e s * All bonds are secured by utility revenues

$ in Thousands

Utility System Original Refunding Bonds Issue Amount Original Date Final Maturity Total

2 0 0 4 14 ,7 0 0 6 / 1 / 2 0 0 4 1 / 1 / 2 0 24 1 0 , 24 0 2 0 0 5 4 0 , 4 3 5 1 0 / 1 / 2 0 0 5 7/ 1 / 2 0 24 3 0 , 0 1 5 * * 2 0 14 1 0 , 0 8 5 4 / 3 / 2 0 14 7/ 1 / 2 0 24 1 0 , 0 8 5 $ 3 7, 8 9 51 8

1 9

Edmond's Top Employers

Edmond Public Schools

University of Central Oklahoma

City of Edmond

Adfitech

OU Medical Center Edmond 1

Petra Industries

Remy International 2

Integris Health Edmond

Pelco Products

Innovative Healthcare Systems

Cox Communications

Ben E. Keith

2,191

1,009

642

250

189

350

430

107147

250*

2,731

1,302

661

362

325

302

300

253155 110

06' 14'

The information above is provided by the Edmond Economic Development Authority. All companies listed in the Top Employers section are headquar- tered in the City of Edmond and must meet this criteria to be included in this report.

1. Formerly Edmond Medical Center.

2. Formerly Unit Parts.

3. * Ben E. Keith is located out of City of Edmond limits but was included in 2006 data, this company is still in business, we are only including those within the City limit.

Source: Edmond Economic Development Authority

NOTES

2 0

The City of Edmond had an increase in enrollment of 395 students from FY13 to FY14.

F Y14 s c h o o l e n r o l l m e n t

Healthy Growth in Education

23,484

2 1

$ In Millions

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

1.5

2.0

2.5

3.0

F Y10 F Y12 F Y14 F Y15F Y11 F Y13 This chart reflects the actual amount of sales tax for the General Fund received for the last 5 fiscal years ending June 30, 2014, as well as the first six months of FY2015. The sales tax revenues collected for 2015 thus far has shown a slight increase compared to last year for the first 6 months actuals. The City beginning in July of 2013 has experienced an exceptional increase in sales tax collections which is a result of the economy bouncing back. More retail shops and restaurants have moved into the Edmond area boosting the economy. Single family building permits have increased causing an increase in sales of lumber, concrete, hardware and appliances. For more information, the MD&A of our CAFR will provide more detailed information on our economic growth.

NOTES

Economic Outlook f y10–15 g e n e r a l f u n d's s a l e s ta x | ac t ua l s

2 2

OUTSTANDING ACHIEVEMENT

The Government Finance Officers Association of the United

States and Canada (GFOA) has given an Award for Outstanding

Achievement in Popular Annual Financial Reporting to the

City of Edmond, Oklahoma for its Popular Annual Financial

Report for the fiscal year ended June 30, 2013. The Award for

Outstanding Achievement in Popular Annual Financial Reporting

is a prestigious national award recognizing conformance

with the highest standards for preparation of state and local

government popular reports.

In order to receive an Award for Outstanding Achievement

in Popular Annual Financial Reporting, a government unit must

publish a Popular Annual Financial Report, whose contents

conform to program standards of creativity, presentation,

understandability and reader appeal.

An Award for Outstanding Achievement in Popular Annual

Financial Reporting is valid for a period of one year. City of

Edmond, Oklahoma has received a Popular Award for the last

four consecutive years (fiscal years ended 2010-2013).

We believe our current report continues to conform to the

Popular Annual Financial Reporting requirements, and we

are submitting it to GFOA.

2 3

CELEBRATING

YEARST U R N I N G T H E P A G E O F P R O S P E R I T Y

two thousand fourte e n

C I T I Z E N ’ S R E P O R T

7 North Broadway • Edmond, Oklahoma 73034 • (4 05) 359 – 4 521 • edmondok.com