athens tn acfr fy2020 text edition

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CITY OF ATHENS, TENNESSEE 
NOTES TO FINANCIAL STATEMENTS 
June 30, 2020 
Note 1. Summary of Significant Accounting Policies (continued) 
A. Financial Reporting Entity (continued) 
Blended Component Unit: (continued) 
Athens City Board of Education (continued) 
statements that may be obtained at the Board of Education's administrative office at Athens 
City Schools, 943 Crestway Drive, Athens, Tennessee 37303. 
Discretely Presented Component Unit: 
Athens Utilities Board 
The Athens Utilities Board (Utilities Board) provides power, fiber optics, water, gas and sewer 
services to residential, commercial and industrial customers located in Athens, Tennessee and 
surrounding areas. The Utilities Board is governed by a five-member commission appointed by 
the City Council. The City Council has authority over the Utilities Board and prescribes the 
rules and regulations with which the Utilities Board must comply. The Utilities Board reports 
as four separate accounting and reporting entities presenting divisional financial statements on 
its business-type activities in accordance with enterprise fund accounting requirements. 
Complete financial statements may be obtained at the Utilities Board's administrative office at 
Athens Utilities Board, 100 New Englewood Road, Athens, Tennessee 37303. 
Other Related Organizations: 
Athens Housing Authority 
The Athens Housing Authority Board consists of five members appointed by the Mayor. The 
Department of Housing and Urban Development subsidizes Housing Authority operations and 
sets rates charged for housing. The debts of the Housing Authority are not secured by the City 
and deficits are not financed by the City. 
McMinn County Economic Development Authority 
This independent corporation is governed by a twenty-member board, only one of which is a 
City official. The activities of the Economic Development Authority include industrial 
recruitment, assistance in expansion of existing industries, and development of industrial parks. 
The Authority has the power to issue its own debt. 
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