...City of Charlotte, North Carolina Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2012 Mayor: Anthony Foxx Mayor Pro Tem: Patrick Cannon City Council: John Autry Michael Barnes Warren Cooksey Andy Dulin Claire Green Fallon David Howard Patsy Kinsey LaWana Mayfield James Mitchell, Jr. Beth Pickering City Manager: W. Curtis Walton, Jr. Prepared by the City of Charlotte Finance Department Greg C. Gaskins, Chief Financial Officer Teresa T. Smith, Chief Accountant This document is available online: CITY OF CHARLOTTE, NORTH CAROLINA TABLE OF CONTENTS Page INTRODUCTORY SECTION Letter of Transmittal ....................................................................................................................................... 1 Certificate of Achievement for Excellence in Financial Reporting ............................................................... 14 Organizational Chart .................................................................................................................................... 15 FINANCIAL SECTION Independent Auditors’ Report ...................................................................................................................... 17 Management’s Discussion and Analysis ..................................................................................................... 19 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets ..................................
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...preferred stock Dt Dividend in Period t DCF Discounted cash flow D/E Debt-to-equity ratio DEP Depreciation D1/P0 DPS DRIP Expected dividend yield Dividends per share Dividend reinvestment plan DRP Default risk premium DSO Days sales outstanding e Approximately equal to 2.7183 EAA Equivalent annual annuity EAR Effective annual rate, EFF% EBIT EBITDA EPS EVA F Earnings before interest and taxes; operating income Earnings before interest, taxes, depreciation, and amortization Earnings per share Economic value added (1) Fixed operating costs (2) Flotation cost FCF Free cash flow FVN Future value for Year N FVAN g GAAP HVN I IFRS IPER I/YR INT IP IPO IRR LIBOR ln(P/X) Future value of an annuity for N years Growth rate in earnings, dividends, and stock prices U.S. Generally Accepted Accounting Standards Firm’s horizon value at t ¼ N Interest rate; also referred to as r International Financial Reporting Standards Periodic interest rate Interest rate key on some calculators Interest payment in dollars Inflation premium Initial public...
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