City of Meridian Financial Transparency and Accessibility Portal

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Annual Financial Audit Summary

This summary is intended to serve as an introduction to the City’s basic financial statements as represented in the annual audit report. The basic financial statements consist of two components: government-wide financial statements and fund financial statements. Within the basic financial statements the City presents financial information within two major reporting activities.

Governmental Activities (General Funds): These funds encompass the City’s basic services, public safety, community planning and development, administration, and parks and recreation. Governmental fund financial statements focus on short-term inflows and outflows of spendable resources, an accounting approach known as the flow of current financial resources measurement focus and the modified accrual basis of accounting. Information provided by these statements provides a short-term view of what resources will be available to meet needs. Property taxes finance the majority of activities in these funds.

Business-Type Activities (Enterprise Funds): These funds support the water and sewer utilities and all the activities necessary to support their operations. Accounting for this fund is the same as a private business on a full accrual basis. User fees finance the majority of activities in these funds.

Please explore our other financial reports on this site for detailed reports by functional department.

Overall City-Wide Financial Highlights

  • The total assets and deferred outflows of the City exceeded its liabilities and deferred inflows at September 30, 2022 by $658,719,397 as compared to $644,817,359 at September 30, 2021.
  • Net position of the Governmental activities finished the fiscal year 2022 at $209,400,291.
  • Net position of Business-type activities finished fiscal year 2022 at $449,319,106.
  • Total unrestricted fund balance of governmental funds at September 30, 2022 was $69,615,987 as compared to a total governmental fund balance at September 30, 2021 of $67,617,648.
  • Total unrestricted fund balance of business-type funds at September 30, 2022 was $92,299,400 as compared to a total business-type fund balance at September 30, 2021 of $82,593,538.
  • The City’s total outstanding long-term debt at September 30, 2022 is $0.00.

Statement of Net Position

Reports the City’s assets (what the City owns) and liabilities (what the City owes) with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.

  • At September 30, 2022 the City’s combined assets and deferred outflows exceeded liabilities and deferred inflows by $658,719,397 as compared to the net position as of September 30, 2021 of $644,817,359.
  • Government-wide total assets and deferred outflows of resources increased from last fiscal year to finish FY2022 at $779,557,882. The increase was primarily due to a stronger market performance for the City’s investments in the Idaho Local Government Investment Pool.
  • Government-wide total liabilities and deferred inflows of resources increased from last fiscal year to finish FY2022 at $120,838,485. The increase was primarily due to a change in position of the net pension amount. Noting in FY2022 the amount reported was a liability of $39,054,528 while in FY2021 the amount reported was an asset of $786,059.
  • The largest portion of the City’s net position is invested in capital assets net of related debt. Capital assets include land, building, equipment and machinery, and sewer and water utility infrastructure.

Statement of Activities

Reports all of the City’s revenues and expenses for the year by function. Examples of functions are public safety, administration, and water and sewer activities. Revenues, such as property tax which cannot be traced to a specific function, are reported as General Revenues.

  • During the 2022 fiscal year the City’s financial position improved by $13,902,038.
  • Government-wide total revenues decrease from last fiscal year to finish FY2022 at $127,792,843. The decrease was caused by less federal revenue being recognized in FY2022 compared to FY2021 relating to monies received in response to COVID‐19.
  • Government-wide total expenses increased from last fiscal year to finish FY2022 at $113,890,805. The increase was associated with the City constructing two new fire stations, one new police precinct, and conducting improvements at Discovery Park and the Lake View Golf Course.

Statement of Capital Assets

The City’s investment in capital assets includes land, buildings, sewer and water lines, buildings, vehicles and equipment. Sidewalks, bridges, and roads belong to the Ada County Highway District.

Click here to access the complete annual audit report.


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