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Finance Committee - Agenda - 10/17/2018 - P26

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
26
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

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Page Image
Finance Committee - Agenda - 10/17/2018 - P26

Finance Committee - Agenda - 10/17/2018 - P27

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
27
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

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Page Image
Finance Committee - Agenda - 10/17/2018 - P27

Finance Committee - Agenda - 8/17/2022 - P60

By dnadmin on Sun, 11/06/2022 - 21:45
Document Date
Fri, 08/12/2022 - 13:02
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 08/17/2022 - 00:00
Page Number
60
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__081720…

Capital assets are depreciated using the straight-line method over the following estimated
useful lives:

Assets Years
Buildings 40
Building improvements 20 - 40
Infrastructure 7 - 60
Vehicles 3-8
Machinery and equipment 5 - 20
Computer equipment 3-5

Equity Interest in Pennichuck

The City’s equity interest in Pennichuck Corporation represents, through the acquisition of all
outstanding shares, the control of all of Pennichuck’s assets, liabilities and businesses,
including land comprising the watershed of the Pennichuck Brook and the three regulated
water utilities owned by Pennichuck. Taking into account all of the assumed liabilities of
the company and its businesses, the acquisition was valued at approximately $200 million.
Pennichuck remains an independent corporation with an independent Board of Directors
with the City of Nashua as its sole shareholder.

The City accounts for this asset in accordance with GASB Statement 90 — Majority Equity
Interests — an Amendment of GASB Statements No. 14 and No. 61. The equity interest
represents an asset to offset the related acquisition bonds in the governmental funds, and is
adjusted accordingly by the related debt service.

Compensated Absences

It is the City’s policy to permit employees to accumulate earned but unused vacation and
sick pay benefits. All vested sick and vacation pay is accrued when incurred in the
government-wide and proprietary fund financiai statements. A liability for these amounts
is reported in governmental funds only if they have matured, for example, as a result of
employee resignations and retirements.

Long-Term Obligations

In 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.

Fund Equity
Fund equity at the governmental fund financial reporting level is classified as “fund
balance”. Fund equity for all other reporting is classified as “net position”.

Fund Balance
Generally, fund balance represents the difference between the current assets/deferred outflows
of resources and current liabilities/deferred inflows of resources. The City reserves those

52

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Finance Committee - Agenda - 8/17/2022 - P60

Finance Committee - Agenda - 10/17/2018 - P28

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
28
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

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Page Image
Finance Committee - Agenda - 10/17/2018 - P28

Finance Committee - Agenda - 10/17/2018 - P29

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
29
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

TEJ° 60D

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Jo soayjesou ‘sydersoyoyd ‘sotpnys ‘sjiodai ‘syooq AWW STVRIALVA LOVYINOD AO NOLLISOdSIG “OZ

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Finance Committee - Agenda - 10/17/2018 - P29

Finance Committee - Agenda - 10/17/2018 - P30

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
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Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
30
Image URL
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Finance Committee - Agenda - 10/17/2018 - P30

Finance Committee - Agenda - 10/17/2018 - P31

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
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Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
31
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

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Page Image
Finance Committee - Agenda - 10/17/2018 - P31

Finance Committee - Agenda - 10/17/2018 - P32

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
32
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

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Page Image
Finance Committee - Agenda - 10/17/2018 - P32

Finance Committee - Agenda - 10/17/2018 - P33

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
33
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

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Finance Committee - Agenda - 10/17/2018 - P33

Finance Committee - Agenda - 10/17/2018 - P34

By dnadmin on Mon, 11/07/2022 - 11:26
Document Date
Fri, 10/12/2018 - 09:56
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 10/17/2018 - 00:00
Page Number
34
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__101720…

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Finance Committee - Agenda - 10/17/2018 - P34

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