022805 PARMA AUDIT #1

VILLAGE OF PARMA, INC.JACKSON COUNTY, MICHIGANAUDITED FINANCIAL STATEMENTSWITH SUPPLEMENTAL INFORMATIONFEBRUARY, 28, 2005VILLAGE OF PARMA, INC.FINANCIAL STATEMENTSTABLE OF CONTENTSPAGENUMBERINDEPENDENT AUDITOR'S REPORT 1MANAGEMENT’S DISCUSSION AND ANALYSIS 3BASIC FINANCIAL STATEMENTS:GOVERNMENT-WIDE STATEMENT OF NET ASSETS 6GOVERNMENT-WIDE STATEMENT OF ACTIVITIES 7BALANCE SHEET GOVERNMENTAL FUNDS 8RECONCILIATION OF THE GOVERNMENTAL FUNDSBALANCE SHEET TO STATEMENT OF NET ASSETS 9STATEMENT OF REVENUES, EXPENDITURES, ANDCHANGES IN FUND BALANCES–GOVERNMENTAL FUNDS 10RECONCILIATION OF THE STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE OFGOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES 11STATEMENT OF NET ASSETS–PROPRIETARY FUNDS 12STATEMENT OF REVENUES, EXPENDITURES, ANDCHANGES IN FUND BALANCES–PROPRIETARY FUNDS 13PROPRIETARY FUND STATEMENT OF CASH FLOWS 14STATEMENT OF FIDUCIARY NET ASSETS 15NOTES TO THE FINANCIAL STATEMENTS 16REQUIRED SUPPLEMENTAL INFORMATION:BUDGETARY COMPARISON SCHEDULE–GENERAL FUND 33BUDGETARY COMPARISON SCHEDULE–MAJOR STREET FUND 40BUDGETARY COMPARISON SCHEDULE–LOCAL STREET FUND 41ADDITIONAL INFORMATION:COMBINING BALANCE SHEET - NON-MAJORGOVERNMENTAL FUNDS 42COMBINING STATEMENT OF REVENUES, EXPENDITURESAND CHANGES IN FUND BALANCE - NON-MAJORGOVERNMENTAL FUNDS 43-i-VILLAGE OF PARMA, INC.FINANCIAL STATEMENTSTABLE OF CONTENTS (Continued)PAGENUMBERADDITIONAL INFORMATION: (Continued)COMBINING ...