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CITY OF CHUBBUCK, IDAHO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020
TABLE OF CONTENTS
Page
Title Page
1
Table of Contents
2-3
Introductory Section
4
Letter of Transmittal
5-7
List of Principal Officials
8
Organizational Chart
9
Financial Section
25-26
Independent Auditor's Report
10-11
Management Discussion and Analysis
12-21
Basic Financial Statements:
Statements of Net Position
22
Statements of Activities
23
Balance Sheets - Governmental Funds
24
Statements of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
25-26
Statements of Position - Proprietary Funds
27
Statements of Revenues, Expenses, and Changes in Net Position - Proprietary
28
Statements of Cash Flows - Proprietary Funds
29-30
Statement of Fiduciary Net Position - Recreational Program Fund
31
Statement of Changes in Fiduciary Net Position - Recreational Program Fund
32
Notes to Financial Statements
33-47
Required Supplementary Information 48
Budgetary Comparison Schedule - General Fund 49
Budgetary Comparison Schedule - Highway, Streets and Roads 50
Schedule of Employer's Share of Net Pension Liability 51
Schedule of Employer Contributions 52
Notes to Required Supplementary Information 2 53
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2020
TABLE OF CONTENTS - CONTINUED
Page
Other Supplementary Information
54
Combining Balance Sheet - Nonmajor Governmental Funds
55
Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor
Governmental Funds
56
Statements of Net Position - Internal Service Funds
57
Statements of Revenues, Expenses, and Changes in Net Position - Internal Service
Funds
58
Statements of Cash Flows - Internal Service Funds
59
Budgetary Comparison Schedule - Nonmajor Governmental Funds
60
Statistical Section
61
Statistical Section - Table of Contents
61
Financial Trends
62-69
Revenue Capacity
70-73
Debt Capacity
74-76
Operating Information
77-79
Single Audit
80
Schedule of Expenditures of Federal Awards
81
Notes to the Schedule of Expenditures of Federal Awards
82
Independent Auditor's Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards
83-84
Independent Auditor's Report on Compliance for Each Major Program; and Report on
Internal Control Over Compliance Required by the Uniform Guidance
85-86
Schedule of Findings and Questioned Costs
87
3
INTRODUCTORY SECTION
CHUBBUCI(
1 ❑ A H ❑
www.cityofchubbuck.us
5160 Yellowstone, PO Box 5604
Chubbuck, ID 83202
(208) 237-2400 phone
(208) 238-2371 fax
MAYOR
Kevin England
March 27, 2021
COUNCIL MEMBERS
Ryan Lewis
Dan Heiner
Melanie Evans
Roger Hernandez
The Honorable Mayor Kevin England, Members of the City Council, and Citizens of the City of
Chubbuck:
Idaho State Law requires that all general-purpose local governments with an annual budget that exceeds
two hundred fifty thousand dollars submit copies of their audited financial statements to the legislative
council. The statements must be presented in conformity with generally accepted accounting principles
(GAAP) and audited in accordance with generally accepted auditing standards (GARS) by a firm of
licensed certified public accountants. Pursuant to those requirements, we hereby issue the comprehensive
annual financial report for the City of Chubbuck for the fiscal year ended September 30, 2020.
Management assumes full responsibility for the completeness and reliability of the information contained
in this report, based upon a comprehensive frame -work of internal control that is established for this
purpose. Because the cost of internal control should not exceed anticipated benefits, the objective is to
provide reasonable, rather than absolute, assurance that the financial statements are free of any material
misstatements.
Deaton & Company, Chartered, a firm of licensed certified public accountants has issued an unmodified
opinion on the City of Chubbuck's financial statements for the year ended September 30, 2020. The
independent auditor's report is located at the front of the financial section of this report.
Management's Discussion and Analysis (MD &A) immediately follows the independent auditor's report
and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A
complement this letter of transmittal and should be read in conjunction with it.
Profile of the City of Chubbuck
The City of Chubbuck (population 16,268) was incorporated in 1950. Chubbuck is located in the
southeastern portion of the State of Idaho.
Chubbuck has a land area of 4.19 square miles and is bordered by the City of Pocatello, with its own
population of 57,947. The City is located in Bannock County with a 2020 estimate census population of
88,942. The City is empowered to levy property taxes on both real and personal property within the city
limits. It also is empowered by state statue to extend its corporate limits by annexation, which it had done
from time to time.
The City of Chubbuck operates under the Council -Mayor form of government. Policy-making and
legislative authority are vested in a governing council (City Council) consisting of the Mayor and four
other members, all elected on a non-partisan basis. The Council is responsible for passing ordinances,
adopting budget, appointing conunittees, approval of internal control framework and hiring city
management. The Mayor acts as the Chief Executive Officer and oversees the day-to-day operations of
the City. The Mayor and Council members are elected at large for 4 -year terms, with two of the Council
members standing for election every two years.
The City of Chubbuck provides a full range of services. These services include Public Safety (police, fire,
animal control, and building inspection); Environmental Health (sanitation, water, waste water treatment
and storm water management); Transportation (street & highway maintenance and traffic engineering);
Recreational (parks and recreation); Neighborhood Quality (engineering, planning and development,
community services) and Administration (mayor/council, finance, elections, human resources, legal risk
management, and information technology). In addition to general government activities, the Mayor and
City Council exercise, or have the ability to exercise, oversight of the Chubbuck Development Authority,
a legally separate corporation. Therefore, its activities are included as a separate component unit in the
reporting entity.
The annual budget serves as the foundation for the City of Chubbuck's financial planning and control.
After reviewing service levels from the previous fiscal year, the Council analyzes draft budget requests
during May. The Chief Financial Officer and Mayor are responsible for preparing a draft budget for the
Council. The budget is prepared by fund, function and activity, and includes information on the past year,
current year estimates and requested appropriation for the next fiscal year. Prior to August 1, the City's
Chief Financial Officer and the Mayor submit the proposed budget to the City Council for review. The
City Council holds public hearings and may add to, subtract from or change the proposed budget, but may
not change the form of the budget. Prior to August 30, the budget is legally enacted through passage of
the annual appropriation ordinance (not in excess of the proposed budget) by the City Council.
Expenditures may not exceed budgeted appropriations at the fund level. City management can legally
amend or transfer appropriations within individual funds but not between funds which requires the
approval of the City Council in a budget amendment, which follows a public notice, public hearing and
amended ordinances adoption process similar to the adoption of the original budget. Budgets are
integrated into the accounting system to facilitate management control during the year.
The Council reviews service levels for all departments prior to entertaining budget requests for the next
fiscal year. Revenue projections receive equal attention and the Council makes budget decisions sufficient
to balance the budget against projected revenues. Cash balances and budget to actual trends are monitored
monthly.
The preparation of the comprehensive annual financial report was made possible by the dedicated service
of the entire staff of the City and, in particular, the Clerk's Office. Each member of these departments has
our sincere appreciation for the contributions made in the preparation of this project. Credit also must be
given to the Mayor and the City Council for their support for maintaining high standards of
professionalism in the management of the City of Chubbuck's finances.
Respectfully submitted March 27, 2021
Rich Morgan
City Treasurer
)-- � /I�
Daniel Christensen
City Accountant
CITY OF CHUBBUCK, IDAHO
List of Principal Officials
SEPTEMBER 30, 2020
Title Name
Elected Officials
Mayor
Kevin England
Council
President
Ryan Lewis
Council
Member
Melanie Evans
Council
Member
Dan Heiner
Council
Member
Roger Hernandez
City Officials
City Attorney
Tom Holmes
Public Works Director
Rodney Burch
City Engineer
Bridger Morrison
Sewer/Water Superintendent
Scott Baker/Cameron Lusk
Sanitation/Streets Superintendent
Ryan Sullivan
Treasurer
Rich Morgan
City Clerk
Joey Bowers
Human Resource Officer
Scott Gummersall
City Accountant
Dan Christensen
Planning and Development
Devin Hillam
Police Chief
Bill Guiberson
Computer Information Systems
Sergei Tomin
Parks & Recreation
Bill Guinn
Fire Chief
Merlin Miller
0
CITY OF CHUBBUCK
ORGANIZATION CHART
LEGAL PUBLIC HUMAN CLERK FINANCE FIRE
SERVICES WORKS RESOURCES
UTILITY INFORMATION
BILLING TECHNOLOGY
r
ENGINEERING PLANNING & HIGHWAY, WATER WASTEWATER SANITATION
DEVELOPMENT STREETS&
ROADS
9
POLICE
DEPARTMENT
I
ANIMAL
CONTROL
PARKS AND
RECREATION
Deaton & Company, Chartered��
Certified Public Accountants
215 North 91h, Suite A
Pocatello, ID 83201-5278
(208) 232-5825
Members of the Idaho Society of Cedified Public Accountants
Members of the American Institute of Certified Public Accountants
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business -type activities, the
aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the
City of Chubbuck as of and for the year ended September 30, 2020, and the related notes to the financial statements,
which collectively comprise the City's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
accounting principles generally accepted in the United States of America; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from
material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in
accordance with auditing standards generally accepted in the United States of America and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in
order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial
position of the governmental activities, the business -type activities, the aggregate discretely presented component units,
each major fund, and the aggregate remaining fund information of the City of Chubbuck, as of September 30, 2020, and
the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's discussion and
analysis, budgetary comparison information, and pension schedules on pages 12-21, 48-50 and 51-52, respectively, be
presented to supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of
financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. We have applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States of America, which consisted of inquiries of management
about the methods of preparing the information and comparing the information for consistency with management's
responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic
financial statements. We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
City of Chubbuck's basic financial statements. The introductory section, combining and individual nonmajor fund financial
statements and statistical section, are presented for purposes of additional analysis and are not a required part of the
basic financial statements. The schedule of expenditures of federal awards is presented for purposes of additional
analysis as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and budgetary comparison schedule - nonmajor
governmental funds are the responsibility of management and were derived from and relate directly to the underlying
accounting and other records used to prepare the basic financial statements. Such information has been subjected to the
auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including
comparing and reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining
and individual nonmajor fund financial statements and the schedule of expenditures of federal awards are fairly stated in
all material respects in relation to the basic financial statements as a whole.
The prior year summarized comparative information has been derived from the City's 2019 audited financial statements
and, in our report dated March 27, 2020, we expressed unqualified opinions on the respective financial statements of the
governmental activities, the business -type activities, the aggregate discretely presented component units, each major
fund, and the aggregate remaining fund information. This information is consistent, in all material respects, with the
audited financial statements from which it has been derived.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the
basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 27, 2021, on our
consideration of the City of Chubbuck's internal control over financial reporting and on our tests of its compliance with
certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is
to describe the scope of our testing of internal control over financial reporting and compliance and the results of that
testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in considering City of Chubbuck's
internal control over financial reporting and compliance.
Chubbuck, Idaho
March 27, 2021
CITY OF CHUBBUCK, IDAHO
Management's Discussion and Analysis
For the Year Ended September 30, 2020
As management of the City of Chubbuck, we offer readers of the City of Chubbuck's financial statements
this narrative overview and analysis of the financial activities for the fiscal year ended September 30,
2020. We encourage readers to consider the information presented here in conjunction with additional
information that we have furnished in our letter of transmittal.
Financial Highlights
• The assets and deferred outflows of the City of Chubbuck exceed its liabilities and
deferred inflows at the close of the most recent fiscal year by $67,954,554 (net
position).
• The governments net position increased by $4,742,784. Approximately 80 percent of
this increase, $3,810,177 is attributed to capital contributions.
• At the end of the current fiscal year, unassigned fund balances for the general fund was
$2,363,778 or 30 percent of total general fund expenditures.
• In the City's business -type activities, operating revenues decreased by $10,686, and
operating expenses increased by $897,009. These differences are due to a combination
of decreases in services used and increases in operating costs.
• During the current fiscal year, City of Chubbuck's overall liabilities had an increase of
$1,429,049 from $26,949,621 to $28,378,670 (including compensated absences). The
increase was primarily due to accrued payroll, interest payable, compensated absences,
and utility deposits.
• The Chubbuck Impact Area Waste Water Collection Authority has been blended with the
business -type activities in the proprietary funds do to the implementation of GASB
Statement No. 61.
• In 2020, City of Chubbuck began the construction of a new City Hall.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City of Chubbuck's basic
financial statements. The City's basic financial statements are comprised of three components: 1)
government -wide financial statements, 2) fund financial statements and 3) notes to the financial
statements. This report also contains other supplementary information in addition to the basic financial -
statements themselves.
Government -wide financial statements. The government -wide financial statements are designed to
provide readers with a broad overview of the City's finances, in a manner similar to a private -sector
business.
The Statement of Net Position presents information on all of the City's assets, deferred outflows and
liabilities with deferred inflows, with the difference between each reported as net position. Overtime,
increases or decreases in net position may serve as a useful indicator of whether the financial position of
the City's is improving or deteriorating.
12
The Statement of Activities presents information showing how the City's net position changed during
the fiscal year. All changes in the assets are reported when the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported
in this statement for some items that will only result in cash flows in the future fiscal periods (e.g.
uncollected taxes and earned but unused compensated absences).
Both of the government -wide financial statements distinguish functions of the City of Chubbuck that are
principally supported by taxes and intergovernmental revenues (governmental activities) from functions
that are intended to recover all or a significant portion of their costs through user fees and charges
(business -type activities). The governmental activities of the City of Chubbuck include general
government and administration, public safety, parks, and highway streets and roads. The business -type
activities of the City include water and sewer, and sanitation operations.
Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated from specific activities or objectives. The City, like other state
and local governments, uses fund accounting to ensure and demonstrate compliance with finance -
related legal requirements. All of the funds of the City of Chubbuck can be divided into three categories:
governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same
functions reported as governmental activities in the government -wide financial statements.
However, unlike the government -wide financial statements, governmental fund financial
statements focus on current sources and uses of spendable resources, as well as on balances of
spendable resources available at the end of the fiscal year. Such information may be useful in
evaluation a government's near-term financing equipment.
Because the focus of governmental funds is narrower than that of the government -wide
financial statements, it is useful to compare the information presented for governmental funds
with similar information presented for governmental activities in the government -wide financial
statements. By doing so, readers may better understand the long-term impact of the
government's near-term financing decisions. Both the governmental funds balance sheet and
the governmental fund statements of revenues, expenditures, and changes in fund balances
provide a reconciliation to facilitate this comparison between governmental funds and
governmental activities.
The City of Chubbuck maintains seven individual governmental funds. Information's is presented
separately in the governmental fund balance sheet and in the governmental fund statement of
revenues, expenditures, and changes in fund balances for the General Fund and Highway,
Streets, and Road Fund, which are the City's two major governmental funds. Data from the
other five funds are combined into a single, aggregated presentation. Individual fund date for
each of these non -major governmental funds is provided in the form of combining statements
elsewhere in this report.
The City of Chubbuck adopts an annual appropriated budget of its general fund, major funds,
and its non -major funds. Budgetary comparison schedules have been provided for these funds
to demonstrate compliance with these budgets.
The basic governmental fund financial statements may be found on pages 22-26 of this report.
13
Proprietary Funds. The City of Chubbuck maintains two different types of proprietary funds:
enterprise funds and internal service funds.
Enterprise funds are used to report the same functions presented as business -type activities in
the government -wide financial statements. The City of Chubbuck uses enterprise funds to
account for its Water department, Waste Water department, and Sanitation department.
Internal service funds are an accounting device used to accumulate and allocate costs internally
among the City of Chubbuck's various functions. The City of Chubbuck uses internal service
funds to account for its central garage operations and employee health benefit program. The
internal service funds are allocated proportionally between governmental and business -type
funds.
Proprietary funds provide the same type of information as the government -wide financial
statements, only in more detail. The proprietary fund financial statements include the
operational and financial date from both the types of funds. The Water, Waste Water, and
Sanitation funds are major funds and their information is shown in separate columns. The
internal service fund and the non -major enterprise funds are combined into a single, aggregated
presentation in the proprietary funds' financial statements. Individual fund data for the non -
major enterprise fund is provided in the form of coming in statements elsewhere in this report.
The City of Chubbuck adopts an annual appropriated budget for its proprietary funds. However,
the City does not provide budgetary comparison schedules for proprietary funds.
The basic proprietary fund financial statements may be found on pages 27-28 of this report.
Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of parties
outside the government. Fiduciary funds are not reflected in the government, wide financial
statements because the resources of those funds are not available to support the City of
Chubbuck's own programs. The accounting used for fiduciary funds is similar to proprietary
funds.
The City of Chubbuck adopts an annual appropriated budget for its fiduciary fund. However, the
City does not provide budgetary comparison schedules for fiduciary funds.
The fiduciary fund financial statements can be found on pages 31-32 of this report.
Notes to the Financial Statements. The notes provide additional information that is essential to
a full understanding of the data provided in the government -wide and fund financial
statements. The notes to the financial statements may be found on pages 33-47 of this report.
Other information. In addition to the basic financial statements and accompanying notes, this
report also presents certain required supplementary information concerning the City's budgeted
versus actual expenses and revenues, the schedule of employer's share of net pension liability
and schedule of employer contributions. The schedules are followed by the internal service fund
financial statements, and nonmajor budget comparison schedule. The other supplementary
information is concluded with the statistical section and schedule of expenditures of federal
awards.
14
Government -wide Financial Analysis
As noted earlier, net position may serve over time as useful indicator of government's financial position.
In the case of the City of Chubbuck, assets exceeded liabilities by $67,954,554 as of September 30, 2020.
The largest portion of the City of Chubbuck's net position is reflected in its net investment in capital
assets (e.g., land, building, equipment, improvements, work -in -process and infrastructure), less
accumulated depreciation and any debt used to acquire those assets that is still outstanding.
The City uses these capital assets to provide service to citizens; consequently, these assets are not
available for future spending. Although the City's investment in capital assets is reported net of related
debt, it should be noted that the resources needed to repay this debt must be provided from other
sources, since the capital assets themselves cannot be used to liquidate these liabilities.
Below is a summary of the City of Chubbuck's Net Position statement.
ASSETS
Current and other assets
Capital assets
Total assets
DEFERRED OUTFLOWS
Pension
LIABILITIES
Long-term liabilites outstanding
Other liabilites
DEFERRED INFLOWS
Pension
Certificate of participation
NET POSITION
Net investment in captial assets
Restricted
Unrestricted
Total net position
Governmental ActivitiesI Business Activities Total
2020 2019 2020 2019 2020 2019
$ 1,622,259 $ 2,546,846 $ 23,029,624 $ 23,296,847 $ 24,651,883 $ 25,843,693
28,622,260 26,473,293 42,829,274 38,291,285 71,451,534 64,764,578
30,244,519 29,020,139 65,858,898 61,588,132 96,103,417 90,608,271
630,614 250,971 305,250 123,623 935,864 374,594
2,911,628 1,550,806 21,798,685 21,719,997 24,710,313 23,270,803
819,309 1,077,689 2,849,048 2,601,129 3,668,357 3,678,818
3,730,937 2,628,495 24,647,733 24,321,126 28,378,670 26,949,621
65,324 550,370 31,620 271,104 96,944 821,474
152,278 - 456,835 - 609,113 -
28,622,260 26,473,293 16,363,939 11,876,681 44,986,199 38,349,974
- - 167,200 166,100 167,200 166,100
(1,695,666) (381,048) 24,496,821 25,076,744 22,801,155 24,695,696
26,926,594 26,092,245 41,027,960 37,119,525 67,954,554 63,211,770
The restricted portion of the City of Chubbuck's net position $167,200, represent resources that are
subject to external restriction on how they may be used. The remaining balance of unrestricted net
position $22,801,155, may be used to meet the governments' ongoing obligation to citizens and
creditors.
As of September 30, 2020, the City is able to report positive balances in all three categories of net
position, both for the government as a whole, as well as for its separate governmental and business -
type activities.
At the end of the current fiscal year, 87 percent of the liabilities are made up of noncurrent liabilities.
The increase in noncurrent liabilities is due to accrued compensated absences and net pension liabilities.
15
Governmental activities. Governmental activities' key elements are broken down in the following
charts. Government activities increased net position by $834,349 and business -type activities increased
net position by $3,908,435.
The City of Chubbuck's direct charges to users of governmental services totaled $439,574. These charges
are for park rentals, building permits and other fees related to public safety and administration. Public
safety expenditures, the largest portion in fiscal year 2020, include the fire department and police
department and accounts for 57 percent of total charges for services. The second largest portion of
expenditures is the parks and street department which accounts for 26 percent of these services.
Below is summary of the City of Chubbuck's Changes in Net Position.
City of Chubbuck's Changes in Net Position
EXPENSES
Governmental Activities
RusinessActivities
Total
2020
2019
2020
2019
2020
2019
REVENUES
835,698
Publicsafety
5,836,410
5,049,129
Program revenues:
5,049,129
Building inspection and street
2,070,501
1,456,770
Charges for services
$ 439,574
$ 642,787
$ 9,155,680
$ 9,166,356
$ 9,595,254 $
9,809,153
Operating grants and contributions
652,897
179,095
-
-
652,897
179,095
Capital grants and contributions
1,253,033
1,019,354
2,785,144
1,045,754
4,038,177
2,065,108
General revenue:
2,028,807
Sewer
3,174,444
2,705,251
Property taxes and sales tax
7,123,630
6,499,369
-
-
7,123,630
6,499,369
Franchise fees and intergovernmental
1,373,939
1,593,100
-
1,373,939
1,593,100
other
203,673
369,476
107,808
106,283
311,481
475,759
Transfers in
-
-
-
534,080
-
534,080
Total Revenues
11,045,746
10,303,181
12,048,632
10,852,483
23,095,378
21,155,664
EXPENSES
General government
1,537,453
836,698
1,537,453
835,698
Publicsafety
5,836,410
5,049,129
5,836,410
5,049,129
Building inspection and street
2,070,501
1,456,770
2,070,501
1,455,770
Parks and recreation
636,713
523,328
536,713
523,328
Health, welfare, and other
131,310
97,149
131,310
97,149
Water
-
-
2,440,008
2,028,807
2,440,008
2,028,807
Sewer
3,174,444
2,705,251
3,174,444
2,705,251
Sanitation
1,916, 682
1,625,740
1,915,5g2
1,525,740
CIAWWC Authority
509,053
609,036
509,053
609,036
Transfers out
-
534,080
-
-
-
534,080
Total expenses
10,212,397
8,597,154
8,140,197
6,959,834
18,352,594
15,566,988
NETCHANGE IN NET POSITION
834,349
1,706,027
3,908,435
3,882,649
4,742,784
5,588,676
NET POSITION beginning
25,092,245
24,566,971
37,119,525
33,482,184
53,211,770
58,049,155
Prior Period Adjustment
-
(180,753)
(245,308)
[426,061}
NET POSITION ending
$25,925,594
$25,092,245
$41,027,960
$37,119,525
$57,954,554
$ 63,211,770
16
Revenue by Source - Government Activities
f�
Other 203,67.3 , 2°1•
k
x
Franchise fees and
Intergovernmental
1,3731939 , 126
Charges for services
,$439,574 , 4%
Property taxes and sales tax
7,1231636 , 65
17
Operating grants and
contributions
652,897 r 6
Capital grants and
contributions
$ 1,253,033 , 11%
Expenses and Program Revenues — Governmental Activities
7,000, 000
6,000, 000
5,000,000
4,000, 000
3,000, 000
2,000,000
1,000, 000
■ Expenses
■ Revenue
• The majority of the City of Chubbuck's governmental activities' revenue is received from
property and sales tax (65 percent). This amount would be 73 percent of the revenue received
without this fiscal year's capital development contributions.
• When all taxes, franchise fees, and intergovernmental revenues are added together, they make
up 77 percent of the budget.
• When revenues are compared to expenses, it shows that none of the City of Chubbuck's
programs are self-supporting. They all require tax support to continue at their current level of
service.
For the most part, increases in expenses closely paralleled inflation and growth in the demand for
services. No significant transaction occurred outside of the Major funds for fiscal year 2020.
No significant losses or revenues were received during the year.
The major fund in the City is the general fund. Significant transactions within the general fund this year
mainly consisted of payments of personnel, law enforcement expenses, fire department expenses, and
street maintenance.
18
Business -type activities. Businesses -type activities' key elements are broken down in the following
charts.
Othe• 107,808 0.89%
Capital grants and dedicate
assets $2,785,144 23.12
Charges for services $9,155,680
75.99%
Expenses and Program Revenue - Business Type Activities
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
Water Sewer
Sanitation
Revenue
m Expense
• One of the major sources of the City of Chubbuck's business -type activities' revenue is received
from service revenue. Currently, the City of Chubbuck's business type activities do not use
property taxes for any type of funding.
• When revenues are compared to expenses, it shows that all of the City of Chubbuck's programs
are self-supporting.
19
Financial Analysis of the Government's Funds
As noted earlier, the City of Chubbuck uses fund accounting to ensure and demonstrate compliance with
finance -related legal requirements.
Governmental funds. The focus of the City of Chubbuck's governmental funds is to provide information
on near-term inflows, outflows, and balances of spendable resources. Such information is useful in
assessing the City of Chubbuck's financing requirements. In particular, unreserved fund balance may
serve as a useful measure of the government's net resources available for spending at the end of the
fiscal year.
At the end of the current fiscal year the City of Chubbuck's governmental funds reported combined
ending fund balances of $321,152. Of which ($589,351) of this total is unassigned fund balance.
The general fund is the chief operating fund of the City of Chubbuck. In the general fund, the City
budgeted for no change in the fund balance. Operating revenues were less than operating expenditures
by $75,971. With the other financing sources and uses, the net change in the general fund increase
$3,513 for fiscal year 2020. As a measure of liquidity, it may be useful to compare both total unassigned
fund balance and total fund expenditures. Total Unassigned fund balance represents -5 percent of total
general fund expenditures.
Proprietary funds. The City of Chubbuck's proprietary fund statements provide the same type of
information found in the government -wide financial statements, but in more detail.
Unrestricted net positions of the respective proprietary funds are Water: $5,723,123, Sewer:
$15,041,835, and Sanitation: $3,634,971. The water fund had an increase in net position of $2,551,054;
the sewer fund had an increase in net position of $1,684,814; and the sanitation fund had an increase in
net position of $49,709.
General Fund Budgetary Highlights
The City made no revision to the original appropriations approved by the City Council. The general fund
actual revenues and expenditures were greater than budget. The difference accounts for a $3,513
increase in the general fund balance. The major variances in expenditures were due to an increase in the
general government, health and welfare, and capital outlays expenditures. The highway, streets and
roads fund actual revenues and expenditure were more than budget. The difference accounts for a
$700,635 decrease in the highway, streets, and roads fund balance. The major variances in expenditures
were due to an increase in capital outlays expenditures.
Capital Asset and Debt Administration
Capital assets. The City of Chubbuck's investment in capital assets for its governmental and business -
type activities as of September 30, 2020 amounts to $71,451,534 (net of accumulated depreciation).
This investment in capital assets includes land, machinery, equipment, other improvements, and
infrastructure. The total increase in the City of Chubbuck's investment in capital assets for the fiscal year
was $23,162,474. The increase in assets includes development contributions of $3,810,177.
20
Land
Building & Improvements
Machinery & Equipment
Infrastructure
Work in Progress
CIAW WCA:
Land
Infrastructure
Office Equipment
Water Rights
Total
City of Chubbuck's Capital Assets
Governmental Activities
2020
2019
$ 2,137,999
$ 1,944,799
4,822,142
4,809,820
5,228,317
5,064,036
18,511,282
12,884,771
5,664,961
8,649,391
Business Activities
2020 2019
$ 1,838,797 $ 1,505,111
21,062,966 8,141,147
7,771,799 7,638,055
3,295,176 10,975,468
386,226 386,226
18,183,193 18,183,193
Tata 1
2020 2019
$ 3,976,796 $
3,449,910
25,885,108
12,950,967
13,000,116
12,702,091
18,511,282
12,884,771
8,960,137
19,624,859
386,226 386,226
18,183,193 18,183,193
- - 2,421,167 2,421,167 2,421,167 2,421,167
$ 36,364,701 $ 33,352,817 $ 54,959,324 $ 49,250,367 $ 91,324,025 $ 82,603,184
Additional information on the City of Chubbuck's capital assets can be found in note 9 on page 40-41 of
this report.
Long-term debt. At the end of the current fiscal year, the City of Chubbuck had total long-term debt
outstanding of $24,710,313. Of this amount, $11,679,735 is comprised of notes to the Department of
Environmental Quality for waste water infrastructure. Long-term debt also includes bonds with a
remaining balance of $924,132 used for purchasing water rights.
The State of Idaho mandates a general obligation debt limit of 9% of the assessed market value of
taxable property within the City boundaries. The City of Chubbuck currently has no general obligation
debt. The limit totaled $97,600,529 based on September 30, 2020's actual assessed values. Therefore
$97,600,529 is available for future general obligation indebtedness. Additional information on the City
of Chubbuck's long-term debt can be found in note 10 on pages 41-43 of this report.
Request for information
The financial report is designed to provide our patrons of the City of Chubbuck and creditors with a
general overview of the City's finances and to show the City's accountability for the money it receives. If
you have question about this report or need any additional financial information, contact the Mayor and
City Council at 5602 Yellowstone Ave, Chubbuck, ID 83202, telephone (208)237-2400.
21
ASSETS
Current assets
Cash and cash equivalent
Investments
Property taxes receivable
Intergovernmental receivables
Interest receivable
Internal balances due to/from
Prepaid expenses
Other accounts receivable
Noncurrent assets
Restricted assets
Bond reserves
Utility deposits
Capital assets
Accumulated depreciation
DEFERRED OUTFLOWS
Pension
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
SEPTEMBER 30, 2020
LIABILITIES
Current liabilities
Accounts payable
Accrued payroll
Accrued bond interest
Interest payable
Unearned revenue
Current portion compensated absences
Current portion of bonds payable
Current portion of long-term debt
Utility deposits
Noncurrent liabilities
Bonds payable
Note payable
Accrued compensated absences
Net pension liabilities
DEFERRED INFLOWS
Pension
Certificate of participation
NET POSITION
Net investment in capital assets
Restricted
Unrestricted
Governmental
Business -type
Development
Activities
Activities
Total
Authority
$ 4,214,760
$ 15,896,578
$ 20,111,338
$ 2,721,042
-
2,033,194
2,033,194
-
492,153
-
492,153
16,452
551,804
-
551,804
-
13,991
3,737
17,728
-
(3,737,049)
3,737,049
-
-
82,632
-
82,632
-
3,968
766,642
770,610
71,222
1,622,259
22,437,200
24,059,459
2,808,716
-
167,200
167,200
-
-
425,224
425,224
-
36,364,701
54,959,324
91,324,025
1,622,524
(7,742,441)
(12,130,050)
(19,872,491)
-
28,622,260
43,421,698
72,043,958
1,622,524
30,244,519
65,858,898
96,103,417
4,431,240
630,614
305,250
935,864
-
510,836
1,133,057
1,643,893
91,132
218,841
113,159
332,000
-
-
2,683
2,683
-
3,737
229,361
233,098
-
34
-
34
-
85,861
28,275
114,136
-
-
142,355
142,355
-
-
774,934
774,934
150,000
-
425,224
425,224
-
819,309
2,849,048
3,668,357
241,132
-
781,777
781,777
-
-
19,660,675
19,660,675
221,233
343,445
113,098
456,543
-
2,568,183
1,243,135
3,811,318
-
2,911,628
21,798,685
24,710,313
221,233
3,730,937
24,647,733
28,378,670
462,365
65,324
31,620
96,944
-
152,278
456,835
609,113
-
28,622,260
16,363,939
44,986,199
1,251,291
-
167,200
167,200
1,270,859
(1,695,666)
24,496,821
22,801,155
1,446,725
$ 26,926,594 $ 41,027,960 $ 67,954,554 $ 3,968,875
22
See accompanying notes to financial statements
Functions/Programs
Primary Government:
Governmental activities:
General government
Law enforcement
Fire control
Building inspection
Highway, streets, and roads
Parks and recreation
Health and welfare
Other special funds
Business -type activities
Water
Sewer
Sanitation
CIAWWC Authority
Total primary government
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2020
Program Revenues Total
Operating Capital Net
Charges for Grants and Grants and (Expense) Development
Expenses Services Contributions Contributions Revenue Authority
$ 1,537,463
$ 342,244
$ -
$ -
$ (1,195,219) $
3,896,661
28,081
319,547
-
(3,549,033)
1,939,749
61,832
16,383
-
(1,861,534)
28,004
-
-
-
(28,004)
2,042,497
1,292
250,000
1,253,033
(538,172)
636,713
6,125
20
-
(630,568)
88,129
-
-
-
(88,129)
43,181
-
66,947
-
23,766
10,212,397
439,574
652,897
1,253,033
(7,866,893)
2,440,008
2,944,986
-
1,888,316
2,393,294
3,174,444
4,163,168
-
668,828
1,657,552
1,916,682
1,952,196
-
-
35,514
609,063
95,330
-
228,000
(285,733)
8,140,197
9,155,680
-
2,785,144
3,800,627
$ 18,352,594
$ 9,595,254
$ 652,897
$ 4,038,177
$ (4,066,266) $
Component Unit:
Chubbuck Development Authority $ 952,853 70,000 -
$ 952,853 70,000 -
Net (expense)/revenue
General revenues
General property taxes and sales tax
Franchise fees
Intergovernmental income
Interest income
Gain from sale of assets
Other revenue
NET CHANGE IN NET POSITION
BEGINNING NET POSITION
ENDING NET POSITION
General Business -type
$ (882,853)
$ (882,853)
Development
Total Authority
$ (7,866,893) $ 3,800,627 $ (4,066,266) $ (882,853)
7,123,630
-
7,123,630
2,707,024
186,818
-
186,818
-
1,187,121
-
1,187,121
-
160,617
105,808
266,425
18,912
6,345
2,000
8,345
-
36,711
-
36,711
275
8,701,242
107,808
8,809,050
2,726,211
834,349
3,908,435
4,742,784
1,843,358
26,092,245
37,119,525
63,211,770
2,125,517
$ 26,926,594
$ 41,027,960
$ 67,954,554
$ 3,968,875
23
See accompanying notes to financial statements
Amounts reported for governmental activities in the Statement of Net Position
are different because:
Capital assets used in governmental activities are not financial resources and, therefore,
CITY OF CHUBBUCK, IDAHO
are not reported in the funds, net of accumulated depreciation of $6,879,524.
28,622,260
Unavailable revenue represents amounts that were not available to fund current
BALANCE SHEET
Property tax
254,351
Deferred outflows and inflows of resources related to pensions and certificate of participation
GOVERNMENTAL FUNDS
Deferred outflows of resources related to pensions
630,614
Deferred inflows of resources related to pensions and certificates of participation
SEPTEMBER 30, 2020
Internal service funds are used to charge the costs of certain activities, such as
employee health insurance and equipment maintenance to individual funds.
The assets and liabilities of the internal services funds applicable to governmental
Highway,
activities are included in governmental activities in the statement of net position.
227,447
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Streets,
Accrued compensated absences
Other
Net pension liability
(2,568,183)
General
and Roads
Governmental
Fund
Fund
Funds
Total
ASSETS
Cash
$ 2,082,195
$ 994,615
$
910,503
$ 3,987,313
Accounts receivable
2,708
1,260
-
3,968
Property and sales taxes receivable
444,475
47,678
492,153
Intergovernmental receivables
76,301
198,263
274,564
Interest receivable
13,991
-
13,991
Prepaid expense
82,632
82,632
Grant receivable
277,240
-
-
277,240
$ 2,979,542
$ 1,241,816
$
910,503
$ 5,131,861
LIABILITIES
Accounts payable
$ 148,387
$ 362,449
$
-
$ 510,836
Accrued payroll
187,233
31,608
-
218,841
Accrued compensated absences
71,547
14,314
-
85,861
Interest Payable
-
3,737
-
3,737
Due to other funds
-
3,737,049
-
3,737,049
407,167
4,149,157
-
4,556,324
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - taxes
208,568
45,783
-
254,351
Unavailable revenues - prepaid
29
5
34
208,597
45,788
-
254,385
FUND BALANCES
Committed
-
-
910,503
910,503
Unassigned
2,363,778
(2,953,129)
-
(589,351)
2,363,778
(2,953,129)
910,503
321,152
$ 2,979,542
$ 1,241,816
$
910,503
Amounts reported for governmental activities in the Statement of Net Position
are different because:
Capital assets used in governmental activities are not financial resources and, therefore,
are not reported in the funds, net of accumulated depreciation of $6,879,524.
28,622,260
Unavailable revenue represents amounts that were not available to fund current
expenditures and therefore are not reported in the funds:
Property tax
254,351
Deferred outflows and inflows of resources related to pensions and certificate of participation
are applicable to future periods and, therefore, are not reported in the fund:
Deferred outflows of resources related to pensions
630,614
Deferred inflows of resources related to pensions and certificates of participation
(217,602)
Internal service funds are used to charge the costs of certain activities, such as
employee health insurance and equipment maintenance to individual funds.
The assets and liabilities of the internal services funds applicable to governmental
activities are included in governmental activities in the statement of net position.
227,447
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Accrued compensated absences
(343,445)
Net pension liability
(2,568,183)
Net position of governmental funds
$ 26,926,594
24
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
EXPENDITURES
General government
1,303,835
Highway,
- 1,303,835
Law enforcement
3,507,675
-
Streets,
Other
1,652,703
-
General
and Roads
Governmental
-
- 8,913
Fund
Fund
Funds
Total
REVENUES
509,997
-
- 509,997
Health and welfare
Property taxes and sales tax
$ 6,277,503
$ 853,514
$ -
$ 7,131,017
Franchise fees
186,818
-
-
186,818
Intergovernmental income
398,759
788,362
-
1,187,121
Court Revenue
28,081
-
-
28,081
Parks revenue
2,409
-
-
2,409
Licenses, permits and fines
220,174
-
-
220,174
Grants
335,950
250,000
-
585,950
Fire protection and prevention
61,832
-
-
61,832
Leases and rents
122,070
-
-
122,070
Interest income
147,603
10,824
2,190
160,617
Donations
5,153
-
61,794
66,947
Charges for services
3,716
1,292
-
5,008
Other revenues
9,625
9,587
230,787
249,999
7,799,693
1,913,579
294,771
10,008,043
EXPENDITURES
General government
1,303,835
-
- 1,303,835
Law enforcement
3,507,675
-
- 3,507,675
Fire control
1,652,703
-
- 1,652,703
Building inspection
8,913
-
- 8,913
Highway, streets, and roads
-
1,722,677
- 1,722,677
Parks and recreation
509,997
-
- 509,997
Health and welfare
88,129
-
- 88,129
Other purchased services
-
-
43,181 43,181
Capital outlays
804,412
966,939
- 1,771,351
7,875,664
2,689,616
43,181 10,608,461
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(75,971)
(776,037)
251,590 (600,418)
OTHER FINANCING SOURCES (USES)
Proceeds from certificate of participation
76,139
76,139
- 152,278
Interest expense
-
(3,737)
- (3,737)
Proceeds from sale of assets
3,345
3,000
- 6,345
79,484
75,402
- 154,886
NET CHANGE IN FUND BALANCES
3,513
(700,635)
251,590 (445,532)
BEGINNING FUND BALANCE
2,360,265
(2,252,494)
658,913 766,684
ENDING FUND BALANCE
$ 2,363,778
$ (2,953,129) $
910,503 $ 321,152
(Continued)
25
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
Tnta I
Reconciliation of the change in fund balances - total governmental funds
to the change in net position of governmental activities:
Net change in fund balances - total governmental funds $ (445,532)
Amounts reported for governmental activities in the Statement of Activities are different because:
Governmental funds report capital outlays as expenditures while governmental activities report
depreciation expense to allocate those expenditures over the life of the assets. Capital asset
contributions from other entities are not recognized as a revenue for governmental purposes,
but are required to be recognized on the Statement of Activities:
Contributed capital assets 1,253,033
Capital asset purchases capitalized 1,771,351
Depreciation expense (875,417)
The net affect of sales transactions involving capital assets 2,148,967
Unavailable revenues are not recorded as current period receipts (7,387)
Internal service funds are used to charge the costs of certain activities, such as employee
health insurance and equipment maintenance to individual funds. The revenues and expenses
applicable to governmental operations are included in the statement of activities (213,288)
Some expenses reported in the Statement of Activities do not require the use of current
financial resources and therefore are not reported as expenditures in governmental fund:
Accrued compensated absences (35,604)
Governmental funds report district pension contributions as expenditures. However, in the
Statement of Activities, the cost of pension benefits earned net of employee contributions is
reported as pension expense
Pension expense in excess of contributions (460,529)
Certificate of participatoin expenses in excess of deferred inflows (152,278)
Change in net position $ 834,349
W!
See accompanying notes to financial statements
ASSETS
Current assets
Cash and cash equivalents
Accounts receivable
Noncurrent assets
Restricted assets
Bond reserves
Utility deposits
Advance to joint venture
Investments
Capital assets
Accumulated depreciation
Interest receivable
Due from other funds
DEFERRED OUTFLOWS
Pension
LIABILITIES
Current Liabilities
Accounts payable
Payroll payable
Accrued compensated absences
Current portion of bonds payable
Accrued bond interest
Current portion of long-term debt
Accrued note interest
Deposits
Noncurrent Liabilities
Revenue bonds payable,
net unamortized premium
Advance payable
Note payable
Compensated absences
Net pension liabilities
DEFERRED INFLOWS
Pension
Certificate of participation
NET POSITION
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2019
Internal Internal
Service Service
Water Sewer Sanitation CIAWWCA Total 2019 Funds 2020 Funds 2019
$ 4,225,875 $ 7,136,004 $4,416,404 $ - $15,778,283 $ 15,866,386 $ 345,742 $ 629,622
299,580 311,331 155,731 766,642 809,308
4,525,455 7,447,335 4,572,135 16,544,925 16,675,694 345,742 629,622
167,200
-
-
1,111,654
167,200
166,100
37,144
34,155
422,224
2,750
250
10,260
425,224
389,134
26,848
142,355
-
16,558,880
-
137,355
16,558,880
16,879,253
-
2,683
2,033,194
-
-
89,581
2,033,194
2,004,574
-
-
24,992,741
6,927,358
4,208,720
18,569,420
54,698,239
48,989,283
261,085
261,085
(3,336,945)
(3,565,831)
(1,943,168)
(3,030,532)
(11,876,476)
(10,707,278)
(253,574)
(251,805)
3,737
3,737
3,868
-
3,737,049
-
-
3,737,049
31868,590
-
-
24,278,414
23,663,943
2,265,802
15,538,888
65,747,047
61,593,524
7,511
9,280
28,803,869
31,111,278
6,837,937
15,538,888
82,291,972
78,269,218
353,253
638,902
113,949 101,600 89,701
- 305,250 123,623
191,087
453,492
467,075
1,111,654
815,282 21,403 2,355
41,860
37,144
34,155
113,159
85,951 - -
15,357
10,260
2,658
28,275
26,848
142,355
-
-
142,355
137,355
2,683
-
-
2,683
3,008
20,824
664,529
89,581
774,934
959,212
227,449
-
1,912
229,361
181,984
422,224
2,750
250
425,224
389,134
1,063,839
1,168,175
595,631
2,827,645
2,598,774 21,403 2,355
781,777
1,587,260 (1,019,992) 16,356,428
11,867,401 7,511 9,280
- 781,777
924,132
-
-
-
16,558,880 16,558,880
16,879,253
8,056,758
11,015,206
588,711
- 19,660,675
20,076,209
61,428
41,039
10,631
113,098
107,392
464,059
413,766
365,310
1,243,135
612,264
9,364,022
11,470,011
964,652
16,558,880 38,357,565
38,599,250
10,427,861
12,638,186
1,560,283
16,558,880 41,185,210
41,198,024 21,403 2,355
11,804 10,524 9,292 31,620 271,104
160,197 160,806 135,832 456,835 -
Net investment in capital assets 12,427,633 3,361,527
1,587,260 (1,019,992) 16,356,428
11,867,401 7,511 9,280
Restricted for bond service 167,200 -
- 167,200
166,100 - -
Unrestricted 5,723,123 15,041,835
3,634,971 24,399,929
24,890,212 324,339 627,267
$ 18,317,956 $18,403,362
$5,222,231 $(1,019,992) 40,923,557
_L26,923,713$ 331,850 _L_t
Adjustment to reflect the consolidation of internal
service fund activities related to enterprise
activities. 104,403
$ 41,027,960
27
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2019
28
See accompanying notes to financial statements
Internal
Internal
Service
Service
Water
Sewer
Sanitation
CIAWWCA
Total
2019
Funds 2020
Funds 2019
OPERATING REVENUES
Service revenue
$ 2,020,854
$ 4,163,168
$ 1,952,196
$ 95,330
$ 8,231,548
$ 8,104,879
$ 78,709
$ 73,931
Revenue used as security
for revenue bond:
Charges for services
924,132
924,132
1,061,487
2,944,986
4,163,168
1,952,196
95,330
9,155,680
9,166,366
78,709
73,931
OPERATING EXPENSES
Administration
-
-
-
-
-
-
285,277
-
Salaries and wages
798,327
713,174
631,000
2,142,501
2,037,080
-
-
Personnel benefits
371,731
315,645
307,230
994,606
702,997
5,322
5,600
Repairs and maintenance
410,137
110,806
513,121
1,034,064
980,200
20,420
12,411
Supplies and tools
57,800
36,171
129,020
222,991
130,275
28,435
4,668
Travel, meetings, and training
4,167
3,027
2,157
9,351
28,595
2,676
4,240
Fuels and lubricants
12,181
6,807
55,005
73,993
81,120
30,219
33,352
Telephone and communications
6,420
5,400
5,400
17,220
16,429
-
-
Utilities
173,571
29,580
3,664
206,815
193,609
10,685
12,936
Treatment - Pocatello
-
1,582,338
-
1,582,338
1,467,281
-
-
Other purchased services
22,582
-
44,161
66,743
64,559
Professional services
98,724
161,415
313
2,957
263,409
93,845
Bad debt
3,628
-
3,573
-
7,201
3,014
-
-
Depreciation
289,988
143,158
139,945
606,106
1,179,197
1,104,416
1,769
2,572
2,249,256
3,107,521
1,834,589
609,063
7,800,429
6,903,420
384,803
75,779
OPERATING INCOME
695,730
1,055,647
117,607
(513,733)
1,355,251
2,262,946
(306,094)
(1,848)
NONOPERATING REVENUE (EXPENSE)
Interest income
14,517
21,525
14,195
50,237
83,497
1,397
3,117
Investment income
51,834
-
-
51,834
18,917
-
-
Note interest income
-
3,737
3,737
3,869
Bond interest expense
(28,420)
-
(28,420)
(32,182)
Note interest expense
(4,253)
(25,563)
-
(29,816)
(33,319)
Grant revenue
228,000
228,000
228,000
Certificate of participation
(66,670)
(66,923)
(56,530)
-
(190,123)
-
Gain (Loss) from asset disposal
2,000
2,000
-
Transfers in (out)
534,080
(32,992)
(39,661)
(67,898)
228,000
87,449
802,862
1,397
3,117
CAPITAL CONTRIBUTIONS
Developer contributions
1,888,316
668,828
2,557,144
817,754
1,888,316
668,828
2,557,144
817,754
CHANGES IN NET POSITION
2,551,054
1,684,814
49,709
(285,733)
3,999,844
3,883,562
(304,697)
1,269
BEGINNING NET POSITION
15,766,902
16,718,548
5,172,522
(734,259)
36,923,713
33,285,459
636,547
635.278
PRIOR PERIOD ADJUSTMENT
(245,308)
ENDING NET POSITION
$ 18,317,956
$18,403,362
$ 5,222,231
$(1,019,992)
$40,923.557
$ 36,923,713
$ 331,850
S 636.547
Adjustment to reflect the consolidation of internal
service fund activities related to enterprise funds
(91,409)
Change in net position of business -type activities
$ 3,908,435
28
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2019
29
See accompanying notes to financial statements
Internal
Internal
Service
Service
Water
Sewer
Sanitation
CIAWWCA Total
2019
Funds 2020
Funds 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from revenues
$ 2,970,007
$ 4,173,969
$ 1,951,838
$ 95,330 $ 9,191,144
$ 9,134,257
$ 80,106
$ 77,048
Cash paid to suppliers
(1,093,749)
(1,747,783)
(336,064)
(2,957) (3,180,553)
(4,335,005)
(358,664)
(68,331)
Cash paid to employees
(1,071,966)
(950,169)
(870,871)
- (2,893,006)
(2,729,662)
(5,322)
(5,600)
Net cash provided by operating activities
804,292
1,476,017
744,903
92,373 3,117,585
2,069,590
(283,880)
3,117
CASH FLOW FROM NONCAPITAL FINANCING ACTIVITIES
Transfer from (to) other funds
-
-
-
- -
534,080
-
Net change in interfund loans
451,914
(320,373) 131,541
131,410
Proceeds from grants
-
228,000 228,000
228,000
Proceeds from deposits (payments)
35,940
350
(200)
36,090
19,636
Net cash (used) in noncapital financing activities
35,940
452,264
(200)
(92,373) 395,631
913,126
CASH FLOW FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Principal paid on capital debt
(157,601)
(1,060,560)
(86,126)
(1,304,287)
(1,088,439)
Interest paid on capital debt
(32,997)
(25,732)
(58,729)
(65,958)
Proceeds from debt
567,120
-
-
567,120
4,804,837
Proceeds from certificate of participation
93,527
93,883
79,302
266,712
-
Proceeds from asset disposals
-
2,000
-
2,000
Purchase of capital assets
(1,268,554)
(876,857)
(968,854)
(3,114,265)
(5,119,282)
Interest received
66,352
25,393
14,195
105,940
87,498
Net cash provided (used) in capital and related
financing activities
(732,153)
(1,816,141)
(987,215)
(3,535,509)
(1,381,344)
CASH FLOW FROM INVESTING ACTIVITIES
Cash paid for investments
(28,620)
(28,620)
(2,004,574)
Interest from investment
18,917
Net cash provided by financing activities
(28,620)
-
(28,620)
(1,985,657)
-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
79,459
112,140
(242,512)
(50,913)
(384,285)
(283,880)
3,117
BEGINNING CASH AND CASH EQUIVALENTS
4,735,840
7,026,614
4,659,166
16,421,620
16,805,905
629,622
626,505
ENDING CASH AND CASH EQUIVALENTS
$ 4,815,299
$ 7,138,754
$ 4,416,654
$ $ 16,370,707
$ 16,421,620
$ 345,742
$ 629,622
CASH AND CASH EQUIVALENTS ARE REPORTED AS:
Cash and cash equivalents
$ 4,225,875
$ 7,136,004
$ 4,416,404
$ $ 15,778,283
$ 15,866,386
$ 345,742
$ 626,622
Cash and cash equivalents - Restricted
589,424
2,750
250
592,424
555,234
-
-
$ 4,815,299
$ 7,138,754
$ 4,416,654
$ $ 16,370,707
$ 16,421,620
$ 345,742
$ 626,622
29
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2019
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
30
See accompanying notes to financial statements
Internal
Internal
Service
Service
Water
Sewer
Sanitation
CIAWWCA
Total
2019
Funds 2020
Funds 2019
OPERATING INCOME
$ 695,730
$ 1,055,647
$ 117,607
$ (513,733)
$ 1,355,251
$ 2,262,946
$ (304,697)
$ 1,269
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation
289,988
143,158
139,945
606,106
1,179,197
1,104,416
1,769
2,572
Pension expense
83,519
67,952
58,287
-
209,758
9,056
-
-
Bad debt expense
3,628
-
3,573
7,201
3,014
(Increase) decrease in assets
Accounts receivable
25,022
10,801
(358)
35,465
(32,108)
-
-
Increase (decrease) in liabilities
Accounts payable
(308,166)
187,761
416,777
296,372
(1,279,092)
19,048
(724)
Payroll payable
10,099
8,601
8,508
27,208
3,246
-
-
Accrued compensated absences
4,472
2,097
564
-
7,133
(1,888)
-
-
Total adjustments
108,562
420,370
627,296
606,106
1,762,334
(193,356)
20,817
1,848
NET CASH PROVIDED BY OPERATING ACTIVITIES
$ 804,292
$ 1,476,017
$ 744,903
$ 92,373
$ 3,117,585
$ 2,069,590
$ (283,880)
$ 3,117
30
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2019
Recreation
Liabilities
Accounts payable
Programs
Health Plan
79,498
Health claims incurred but not reported
- 89,213
Trust Fund
Trust Fund
Unearned contributions
- 97,663
97,663
2020
2020
Total
2019
Assets
Net Position
Cash
$ 43,242
$ 606,720
$ 649,962
$ 399,776
On deposit with third party administrator
-
50,000
50,000
50,000
Prepaid expenses
-
-
-
26,792
Stop loss receivable
-
44,170
44,170
79,514
Contributions receivable
-
-
-
-
43,242
700,890
744,132
556,082
Liabilities
Accounts payable
- 35,486
35,486
79,498
Health claims incurred but not reported
- 89,213
89,213
96,250
Unearned contributions
- 97,663
97,663
85,917
- 222,362
222,362
261,665
Net Position
Held in trust
$ 43,242 $ 478,528
$ 521,770
$ 294,417
31
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
FIDUCIARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2019
Additions
Contributions
COBRA contributions
Registration fees
Sponsorships
Other revenue
Total additions
Deductions
Stop -loss coverage
Taxes
Broker fees
Professional service fees
Continuation fees
Change in incurred but not reported
Bonded insurance expense
Immunization
Claims administration/TPA fees
Claims incurred
Director's compensation
Boy's baseball
Girl's softball
Tee/tiger ball
Bad debt expense
Other expenses
Total deductions
Change in net position
Net position - beginning of the year
Net position - end of the year
Recreation
Programs Health Plan
Trust Fund Trust Fund
IMIM 7A7fl -r-4-1 7A40
$ -
$ 1,430,607
$1,430,607
$ 1,023,925
-
-
-
721
36,361
-
36,361
54,198
1,750
-
1,750
10,485
-
170,741
170,741
160,669
38,111
1,601,348
1,639,459
1,249,998
-
322,109
322,109
301,653
-
984
984
921
-
24,020
24,020
24,080
-
13,800
13,800
22,502
-
500
500
500
-
(7,037)
(7,037)
24,049
-
295
295
-
-
5,631
5,631
6,794
-
70,470
70,470
70,000
-
875,546
875,546
762,429
-
-
-
5,500
23,822
-
23,822
26,764
9,588
-
9,588
18,246
4,704
-
4,704
7,465
-
65,062
65,062
-
2,612
-
2,612
1,692
40,726
1,371,380
1,412,106
1,272,595
(2,615)
229,968
227,353
(22,597)
45,857
248,560
294,417
317,014
$ 43,242
$ 478,528
$ 521,770
$ 294,417
32
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 1 OF 15)
NOTE 1 - Summary of Sianificant Accountina Policies
The City's financial statements comply with generally accepted accounting principles (GAAP). GAAP includes all relevant
Governmental Accounting Standards Board (GASB) pronouncements within the codification. The government -wide financial
statements, including the enterprise funds and the fund financial statements for the proprietary funds, are also under GASB
codification. The accounting and reporting framework and the more significant accounting policies are discussed in subsequent
subsections of this note. Applicable GASB statements have been implemented through GASB 77. The City has chosen to early
implement GASB 91.
A. Reporting Entity
The City's financial reporting entity comprises the following
Primary Government
In determining the financial reporting entity, the City complies with the provisions of GASB Statement No. 61, "The Financial
Reporting Entity". Currently, the City reports two component units; the Chubbuck Development Authority and the Chubbuck Impact
Area Waste Water Authority.
Discretely Presented Component Units
Chubbuck Development Authority (CDA)
One component unit reported in the combined financial statements represents the financial balances and transactions of the
Chubbuck Development Authority (CDA). CDA is a legally separate entity incorporated under the State of Idaho's urban renewal
laws. CDA works with the City to develop blighted areas within the City using tax increment financing to fund projects. These
projects could include providing infrastructure, purchasing land and demolishing blighted structures or rehabilitating structures to
provide for low income housing, among others. All non -private projects are donated to the City of Chubbuck.
The Board of Commissioners of the Authority consists of 7-9 members, which are appointed by the Mayor.
Complete financial statements of the Authority can be obtained from the City Clerk, City of Chubbuck, 5160 Yellowstone Ave,
Chubbuck, Idaho 83202.
Blend Component Unit - Enterprise Fund
Chubbuck Impact Area Waste Water Collection Authority (CIAWWCA)
Effective September 1, 2007, Bannock County, Idaho, City of Pocatello, Idaho and the City of Chubbuck, Idaho entered into a Joint
Powers Agreement creating the Chubbuck Impact Area Wastewater Collection Authority for the purpose of financing, designing,
acquiring, constructing, managing, and operating a sewage collection facility along with transmission mains and lift stations. The
Authority is a public entity of the State of Idaho, therefore, the Authority's income is exempt form Federal and Idaho income taxes. A
three-member board governs the Chubbuck Impact Area Wastewater Collection Authority with one member representing Bannock
County, one member representing the City of Pocatello and one member representing the City of Chubbuck. The City of Chubbuck
provides loans to the Authority with no interest or maturity date. Outstanding balance of loans to the authority at year-end totaled
$16,558,880. The City of Chubbuck has all rights and obligations of assets and liabilities within the Authority.
Upon termination of this Agreement, title to all buildings, improvements, facilities, equipment and personal property held by the
Authority shall become the property of the City of Chubbuck.
Complete financial statements of the Authority can be obtained from the City Clerk, City of Chubbuck, 5160 Yellowstone Ave,
Chubbuck, Idaho 83202.
B. Basis of Presentation
Government -wide Statements
The Statement of Net Position and Statement of Activities displays information about the reporting government as a whole. They
include all funds of the reporting entity except for fiduciary funds. The statements distinguish between governmental and business -
type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other non-exchange
revenues. Business -type activities are financed in whole or in part by fees charged to external parties for goods or services.
33
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 2 OF 15)
NOTE 1 - Summary of Sianificant Accountina Policies (Continued)
B. Basis of Presentation (continued)
Fund Financial Statements
Fund financial statements of the reporting entity are organized into funds, each of which is considered to be separate accounting
entity. Each fund is accounted for by providing a separate set of self -balancing accounts that constitute its assets, liabilities, fund
equity, revenues, and expenditures. Funds are organized into three major categories: Governmental, proprietary, and fiduciary.
An emphasis is placed on major funds within the governmental and proprietary categories. A fund is considered major if it is the
primary operating fund of the City or meets the following criteria:
a. Total assets, liabilities, revenues or expenditures of that individual governmental or enterprise fund are at least 10 percent of
the corresponding total for all funds of that category or type.
b. Total assets, liabilities, revenues, or expenditures of the individual governmental fund or enterprise fund are at least 5 percent
of the corresponding total for all governmental and enterprise funds combined.
Governmental Funds
General Fund
The General Fund is the general operating fund of the City and is always classified as a major fund. All financial resources, except
those required to be accounted for in another fund, are accounted for in the General Fund.
Highway, Streets, and Roads Fund
The Highway, Streets, and Roads Fund accounts for revenue and expenditures used for the construction and maintenance of
highways, streets, and roads. It is a major fund.
Special Revenue Funds
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures
for specific purposes.
Proprietary Funds
Enterprise Funds
Enterprise funds are used to account for business -like activities provided to the general public. These activities are financed
primarily by user charges and the measurement of financial activity focuses on net income measurement similar to the private
sector. The reporting entity includes the water, sewer and sanitation funds.
Proprietary funds distinguish "operating" revenues from "non-operating" revenues. Operating revenue is revenue generated from
the City's primary business activities. The operating revenues are produced through charges for services. Nonoperating revenue is
the portion of the City's revenue that is derived from activities not related to its core operations.
Internal Service Funds
Central Garage
Each fund is allocated the costs of operations based on equipment maintenance and repairs to their departments.
Employee Health Benefit
The City encourages its employees to live a healthy lifestyle. The idea is that if we have healthy employees, the health insurance
medical claims will remain low. The Employee Health Benefit Fund assists with costs like immunization, health screening, and
weight loss.
34
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 3 OF 15)
NOTE 1 - Summary of Significant Accountina Policies (Continued)
B. Basis of Presentation (continued)
Fiduciary Funds
Fiduciary funds account for resources held for the purpose of parties outside the government. The City of Chubbuck accounts for
two fiduciary funds.
Recreation Program Trust Fund
The Recreation Program Trust Fund is used to account for assets held by the City for the use of the baseball and softball program.
The recreation program maintains the spending control of the fund.
Health Plan Trust Fund
The Health Plan Trust Fund provides optional health care benefits to City employees, dependents, and employees eligible through
Cobra. All medical and prescription drug coverages are paid by the City through contributions to the Trust. A third party
administers the benefits and receives a fee for processing claims.
C. Measurement Focus and Basis of Accounting
Measurement focus is a term used to describe 'which" transactions are recorded within the various financial statements. Basis of
accounting refers to 'when" transactions are recorded regardless of the measurement focus applied.
Measurement Focus
On the government -wide Statement of Net Position and the Statement of Activities, both governmental and business -like activities
are presented using the economic resources measurement focus as defined in item b. below.
In the fund financial statements, the "current financial resources" measurement focus or the "economic resources" measurement
focus is used:
a. All governmental funds utilize a "current financial resources' measurement focus. Only current financial assets and liabilities
are included on their balance sheets. Their operating statements present sources and uses of available spendable financial
resources during a given period. These funds use fund balance as their measure of available spendable financial resources
at the end of the period.
b. The proprietary fund utilizes an "economic resources" measurement focus. The accounting objectives of this measurement
focus are the determination of operating income, changes in net position (or cost recovery), financial position, and cash flows.
All assets and liabilities (whether current or noncurrent) associated with their activities are reported. Proprietary fund equity is
classified as net position.
Basis of Accounting
In the government -wide Statement of Net Position and Statement of Activities, both governmental and business -like activities are
presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and
expenses are recorded when the liability is incurred or economic asset used. Revenues, expenses, gains, losses, assets, and
liabilities resulting from exchange and exchange -like transactions are recognized when the exchange takes place.
In the fund financial statements, governmental funds are presented on the modified accrual basis of accounting. Under this
modified accrual basis of accounting, revenues are recognized when "measurable and available." Measurable means knowing or
being able to reasonably estimate the amount. Available means collectible within the current period or within sixty days after year
end. Expenditures (including capital outlay) are recorded when the related fund liability is incurred, except for general obligation
bond principal and interest which are reported when due.
All proprietary funds utilize the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when
earned and expenses are recorded when the liability is incurred or economic asset used.
The effect of interfund activity has been eliminated from the government -wide financial statements
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 4 OF 15)
NOTE 1 - Summary of Sianificant Accountina Policies (Continued)
D. Budgets and Encumbrances
Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are
adopted for the general, highway, streets and roads, and special revenue funds. All annual appropriations lapse at fiscal year end.
Each month the City prepares a financial report that reflects the actual and budgeted financial data. A strict purchase order system
is used in controlling and maintaining expenditures within budget categories. This data is reviewed by the City Council. The City
does not use the encumbrance method of accounting.
E. Cash and Cash Equivalents
For the purpose of the Statement of Net Position, "cash and cash equivalents" includes all demand, savings accounts, certificates of
deposits, and state investing pools of the City. For the purpose of the proprietary fund Statement of Cash Flows, "cash and cash
equivalents" include all demand and savings accounts, and certificates of deposit or short-term investments with an original
maturity of three months or less.
F. Fair Value Measurements of Assets and Liabilities
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. GAAP establishes a fair value hierarchy for inputs used in measuring fair
value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most
observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or
liability based on market data obtained from sources independent of the City. Unobservable inputs reflect the City's assumptions
about the inputs market participants would use in pricing the asset or liability based on the best information available. The fair value
hierarchy is categorized into three levels based on the inputs as follows:
Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities that City has the ability to access.
Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these assets
and liabilities does not require a significant degree of judgement.
Level 2 - Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either
directly or indirectly.
Level 3 - Valuations based on inputs that are unobservable, that is, inputs that reflect the City's own assumptions.
G. Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, right of way and similar
items), are assets with an initial, individual cost of more than $25,000 and an estimated useful life in excess of one year.
The accounting treatment for property, plant and equipment depends on whether the assets are used in governmental fund
operations or proprietary fund operations and whether they are reported in the government -wide or fund financial statements.
Govemment-wide Statements
In the government -wide financial statements, the assets are accounted for as capital assets. All capital assets are valued at
historical cost, or estimated historical cost if actual is unavailable, except for donated assets which are recorded at their estimated
fair value at the date of donation. Estimated historical cost was used to value the majority of the assets acquired prior to September
30, 2003.
Governmental fund infrastructure assets were not capitalized prior to October 1, 2003.
Depreciation of all exhaustible capital assets is recorded as an allocated expense in the Statement of Activities, with accumulated
depreciation reflected in the Statement of Net Position. Depreciation is provided over the assets' estimated useful lives using the
straight-line method of depreciation. The range of estimated useful lives by type of asset is as follows:
Buildings
20-30 years
Other structures
15-20 years
Equipment
7-10 years
Vehicles
5-7 years
Ki:
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 5 OF 15)
NOTE 1 - Summary of Sianificant Accountina Policies (Continued)
G. Capital Assets (continued)
Fund Financial Statements
In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay
expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations are accounted for the
same as in the government -wide statements.
H. Restricted Assets
Restricted assets include cash and investments of the general fund that are legally restricted as to their use. The primary restricted
assets are related to employee benefits.
Restricted assets include cash and investments of the proprietary fund that are legally restricted as to their use. The primary
restricted assets are related to utility deposits and bond reserve requirements.
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted resources first, then
unrestricted resources as they are needed.
I. Long-term Debt
The accounting treatment of long-term debt depends on whether the assets are used in governmental fund operations or proprietary
fund operations and whether they are reported in the government -wide or fund financial statements.
All long-term debt to be repaid from governmental and business -type resources are reported as liabilities in the government -wide
statements. The long-term debt consists primarily of notes payable, capital leases, and accrued compensated absences.
Long-term debt for governmental funds is not reported as liabilities in the fund financial statements. Debt proceeds are reported as
other financing sources. Payment of principal and interest are reported as expenditures. The accounting for proprietary funds is the
same in the fund statements as it is in the government -wide statements.
J. Comparative data/reclassifications
Comparative total data for the prior year has been presented in the fund financial statements in order to provide an understanding of
the changes in assets and operations of these funds. Also, certain amounts presented in the prior year data have been reclassified
in order to be consistent with the current year's presentation.
K. Compensated Absences
The City's policies regarding vacation time permit employees to accumulate earned but unused vacation leave. The liability for
these unpaid compensated absences is recorded as long-term debt in the government -wide statements. The current portion of this
debt is estimated based on historical trends. In the fund financial statements, governmental funds report only the compensated
absence liability payable from expendable available financial resources, while the proprietary funds report the liability as it is
incurred.
L. Equity Classifications
Government -wide Statements
Equity is classified as net position and displayed in three components:
a. Net investment in capital assets - Consists of capital assets including capital assets, net of accumulated depreciation and
reduced by the outstanding balances of any bonds, mortgages notes, or other borrowings that are attributable to the
acquisition, construction, or improvement of these assets.
b. Restricted - Consists of assets with constraints placed on the use either by (1) external groups such as creditors, grantors,
contributors, or laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislation.
c. Unrestricted - All other assets that do not meet the definition of "restricted" or "net investment in capital assets."
37
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 6 OF 15)
NOTE 1 - Summary of Sianificant Accountina Policies (Continued)
L. Equity Classifications (continued)
Fund Statements
In the fund financial statements, governmental funds report the following classifications of fund balance:
Nonspendable items- This category includes a portion of net resources that cannot be spent because of their form or because they
must be maintained intact. This includes inventories and prepaid items.
Restricted items- This category includes resources where limitations are imposed by external entities, such as grantors and
creditors, or to comply with laws and regulations of governments.
Committed items- This category includes amounts that can only be used for the specific purposes determined by a formal action of
the City's highest level of decision-making authority for the City. Commitments may be changed or lifted only by the Council taking
the same formal action that imposed the constraint originally.
Assigned items- Assigned items represent the City's intent to use certain resources for specific purposes. The City Council may
establish the intended use of these funds for a designated purpose.
Unassigned items - Represents the remainder of the City's equity in governmental fund -type balances in excess of the
aforementioned classifications.
It is the City's policy to use unrestricted fund balances in the following order: (1) Committed, (2) Assigned, (3) Unassigned.
M. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires the City to make
estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those
estimates.
N. Pensions
For purposes of measuring the net pension liability and pension expense, information about the fiduciary net position of the Public
Employee Retirement System of Idaho Base Plan (Base Plan) and additions to/deductions from Base Plan's fiduciary net position
have been determined on the same basis as they are reported by the Base Plan. For this purpose, benefit payments (including
refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are
reported at fair value.
NOTE 2 - Leaal Compliance - Budaets
Approximately six to seven months before the start of a new fiscal year, the City's financial officer submits to the City Council a
proposed operating budget for the fiscal year commencing the following October 1. The budget is prepared by fund at the function
level and includes information on the past year, current year estimates and requested appropriations for the next fiscal year.
The City Council holds public hearings and may add to, subtract from or change appropriations, but may not change the form of the
budget. Any changes in the budget must be within the revenues and reserves estimated as available to the City or the revenue
estimates must be changed by an affirmative vote of a majority of the City Council. After public hearings and before the end of the
fiscal year, the City Council formally adopts the budget.
Budgetary control is exercised by function at the fund level. The City Manager is authorized to transfer budgeted appropriations
within individual funds, but cannot alter the appropriations on a fund level without City Council approval. Expenditures may not
legally exceed budgeted appropriations at the fund level. During the year, several supplementary appropriations may be necessary.
38
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 7 OF 15)
NOTE 3 - Restricted Assets and Payable from Restricted Assets
Assets have been set aside for special items and are restricted for that purpose. Restricted resources are used only after the
unrestricted resources are depleted. To date cash has been restricted for the following items:
Proprietary
Bond reserves
Utility deposits
Total
$ 167,200
425,224
$ 592,424
Bond reserves are amounts the City is legally required to reserve for the repayment of outstanding bonds.
Water deposits are collected from individuals who receive utility services from the City. Money on deposit may be used to pay past
due balances or is returned when the payer stops utility service. Restricted utility deposits totaled $425,224 at year-end.
NOTE 4 - Property Tax
Bannock County has the responsibility of assessing and collecting all property taxes. Taxes levied for the year are payable in two
installments due December 20th of the current year and June 20th of the following year. The County remits property taxes collected
to the City monthly.
Property taxes are recognized as revenue when received for monthly reporting purposes. At year end, an accrual is made to
recognize property taxes receivable at year end. At year end, $492,153 in outstanding property taxes were expected to be collected
and remitted by the County.
NOTE 5 - Tax Abatements
The City has no tax abatement agreements as of September 30, 2020.
NOTE 6 - Cash. Cash Eauivalents and Investments
Primary Government:
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Balance
Restricted
$
592,424
Unrestricted
20,111,338
$
20,703,762
Fiduciary Fund:
Balance
Cash
$
649,962
$
649,962
Deposits
Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the government's deposits may not be returned to it.
At year-end, the carrying amount of the City's deposits (cash and certificates of deposit) was $21,353,724 and the bank balance
was $17,144,501. The deposits were covered by collateralized accounts or federal depository insurance of $250,000 per bank.
The City uses various commercial banks to limit their exposure to custodial credit risk, however, some of the City's deposits
including the State of Idaho, Local Government Investment Pool (LGIP) at year-end were not insured nor collateralized in the
amount of $3,561,359.
The State Treasurer's Investment Pools (LGIP) operates in accordance with appropriate state laws and regulations. The reported
value of the pools is the same as the fair value of the pool shares.
39
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 8 OF 15)
NOTE 6 - Cash and Cash Equivalents and Investments (Continued)
Investments
As of September 30, 2020, the City had the following investments
Maturities
More Than
Fair Value No Maturity 1-10 Years 10 Years Moody / S&P
Money Funds $ 3,000 $ 3,000 $ - $ N/A
U.S. Government Bonds 2,033,194 - 2,033,194 Aaa / AA+
Total Investments $ 2,036,194 $ 3,000 $ 2,033,194 $
The above investments are measured at fair market value based on the exit price for these investments at the fiscal year end date.
These are all considered to be measured on a Level 1 on the fair market value hierarchy.
Component Unit - Chubbuck Development Authority (CDA):
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Unrestricted
$ 2,721,042
Bank Deposits - Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the government's deposits may not be
returned to it. At year-end the carrying amount and bank balance of CDA's deposits (cash and certificates of deposit) was
$2,721,042. At year-end, all the Authority's deposits were held in the LGIP. Deposits in the LGIP are not insured or guaranteed by
the Federal Deposit Insurance Corporation, the State of Idaho or any other government agency. CDA's deposits in the bank at year-
end were subject to custodial credit risk.
The State Treasurer's Investment Pools (LGIP) operates in accordance with appropriate state laws and regulations. The reported
value of the pools is the same as the fair value of the pool shares.
Investments - The CDA has no investments
Component Unit - Chubbuck Impact Area Waste Water Collection Authority (CIAWWCA):
Deposits and Investments - The CIAWWCA has no deposits or investments.
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Unrestricted
Bank Deposits - Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the government's deposits may not be
returned to it. At year-end the carrying amount and bank balance of CIAWWCA's deposits (cash and certificates of deposit) was
$0. At year-end, all the Authority's deposits were held in a financial institution. All deposits were guaranteed by the Federal Deposit
Insurance Corporation and were not subject to custodial credit risk.
NOTE 7 - Receivables
All trade receivables are shown net of allowance for doubtful accounts. Doubtful accounts are based on an aging delinquent
balance report. Historically 100% of property taxes have been collected, therefore, there is no allowance for uncollectible property
tax receivables.
Receivables as of year-end for the City's business -type funds are as follows
40
CIAWWC
Water
Sewer
Sanitation Authority
Total
Accounts Receivables $ 321,598
$ 326,102
$ 162,806 $
$ 810,506
Allowance for Doubtful Accounts (22,018)
(14,771)
(7,075)
(43,864)
$ 299,580
$ 311,331
$ 155,731 $
$ 766,642
40
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 9 OF 15)
NOTE 8 - Concentration of Credit Risk
Interest Rate Risk is the risk that changes in interest rates will adversely affect the value of a deposit. The City manages its
exposure to declines in fair value by limiting the average maturity of its deposits to one year or less, or redeemable on demand with
no penalty.
Credit Risk is the risk that an issuer or a counterparty to a deposit will not fulfill its obligations. The City seeks to minimize credit
risk through diversification of deposits within the choices allowed under state statutes. The City's investments in U.S. government
bonds were rated Aaa and AA+ by Moody's and Standard & Poor's Investor Services, respectively. Idaho law requires the City to
obtain the safest investment rated by a nationally recognized standard rating service.
Concentration of Credit Risk is the risk of loss attributed to the magnitude of an investment in a single issuer. Exclusive of the State
of Idaho LGIP, the City's deposits in any one issuer does not represent a concentration of total credit risk. The funds in the State of
Idaho LGIP are in a variety of investments which are required to have an A quality credit rating or better.
The City is subject to credit risk on deposits in banks that exceed the FDIC maximum insured balance amount.
Additionally, the City grants credit to customers in the City for utility service. This extension of credit potentially subjects the City to
credit risk.
NOTE 9 - Changes in Capital Assets
A summary of general capital assets at year end is as follows:
Nondepreciable assets
Land
Work in process
Infrastructures
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
Beginning Ending
Balance Additions Deletions Balance
$ 1,944,799
$ 193,200
$ -
$ 2,137,999
8,649,391
1,506,415
4,490,845
5,664,961
12,884,771
5,626,511
-
18,511,282
4,809,820
12,322
-
4,822,142
5,064,036
176,781
12,500
5,228,317
33,352,817
7,515,229
4,503,345
36,364,701
6,879,524
875,417
12,500
7,742,441
$ 26,473,293
$ 6,639,812
$ 4,490,845
$ 28,622,260
A summary of proprietary type capital assets at year end is as follows:
Nondepreciable assets
Land
Water Rights
Work in process
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
NOTE 10 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt:
Beginning Ending
Balance Additions Deletions Balance
$ 1,891,337
$ 333,686
$
$ 2,225,023
2,421,167
-
2,421,167
10,975,468
2,247,999
9,928,291
3,295,176
26,324,340
12,921,819
-
39,246,159
7,638,055
143,744
10,000
7,771,799
49,250,367
15,647,248
9,938,291
54,959,324
10,959,083
1,180,967
10,000
12,130,050
$ 38,291,284
$ 14,466,281
$ 9,928,291
$ 42,829,274
Governmental Business -type
$ 85,861 $ 28,275
343,445 113,098
$ 429.306 $ 141.373
The City's long-term debt is segregated between the amounts to be repaid from governmental activities and amounts to be repaid
from business -type activities.
41
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 10 OF 15)
NOTE 10 - Lona -term Debt and Accrued Compensation (Continued)
Governmental Activities:
As of year end, the governmental fund had no long-term debt.
Business -type activities:
In 2006, the City refinanced a construction line of credit for a note payable with the Department of Environmental Quality (DEQ) with
an interest rate of 3.25% and semi-annual payments of $12,332 for 20 years.
Current portion $ 20,824
Noncurrent portion 102,292
$ 123,116
At year-end the City was authorized, on a line -of -credit, to borrowed $17,569,518 from the Department of Environmental Quality
(DEQ) under four (4) separate loans. The four (4) loans have zero percent interest rate and are required to be paid in biannual
installments over 20 years at the close of the loan. At year-end all four loans were closed. The notes were used to finance the
designing and constructing of the Chubbuck Northwest Sewer Interceptor. The notes could be used to finance services to provide
environmental field studies, public involvement, and agency permit applications. If funds allow, it could include the purchase of
needed right-of-way for construction of the sewer system.
Outstanding
DEQ line of credit at zero percent interest, with biannual payment of $5,499 for 20 years, and a maturity date of
November 1, 2030. Loan closed April 22, 2010. $ 115,587
DEQ line of credit at zero percent interest, with biannual payment of $204,750 for 20 years, and a maturity date of
April 27, 2035. Loan closed March 5, 2015. 5,937,756
DEQ line of credit at zero percent interest, with biannual payment of $212,757 for 20 years, and a maturity date of
May 17, 2033. Loan closed April 9, 2013. 5,531,685
DEQ line of credit at zero percent interest, with biannual payment of $3,266 for 20 years, and a maturity date of
April 27, 2035. Loan closed January 31, 2011. 94,707
$ 11,679,735
Less current portion 664,529
Noncurrent portion $ 11,015,206
In 2016, the City received a loan award from the Department of Environmental Quality (DEQ) for an amount not to exceed
$8,500,000 at 2.75% interest. Payments will begin after the closing of the loan with biannual installments to cover principal and
interest over 20 years. The loan is being used to finance the designing and constructing of a well in Copperfield Landing. The loan
not closed at the end of fiscal year 2020.
Available Principal
$ 545,534 $ 7,954,466
The Water Revenue Bonds, Series 2011 was issued September 28, 2011, for 15 years in the amount of $1,930,000 at a premium
of $110,330. The bond carries interest rates between 2 and 4.75% and a maturity date of September 1, 2026.
Bonds Payable:
Water Revenue Bond
Less current portion
Noncurrent portion
Net Premium Principal Total
$ 44,132 $ 880,000 $ 924,132
44,132 880,000 924,132
7,355 135,000 142,355
$ 36.777 $ 745.000 $ 781.777
Bond premiums, net amortization totaled $44,132. The bond premium and expenses are amortized over fifteen (15) years, the life
of the bond. Bond premium amortization of $7,355 for the year.
96
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 11 OF 15)
NOTE 10 - Lona -term Debt and Accrued Compensation (Continued)
Notes Payable
On June 4, 2008, the City issued three notes to purchase assets needed in order to collect sanitation for the City. Notes one and
two were issued at 5.50% and the third note at 5.25%. The third note was refinanced in 2009. The notes were issued for $936,576,
$541,537 and $1,375,000 with monthly payments of $17,890, $6,985, and $9,321, respectively until the maturity date of May 5,
2013, 2016 and 2029, respectively. Note 1 was paid in it's entirety on May 6, 2013. Note 2 was prematurely paid off on June 25,
2015.
Notes Payable: Balance
Note 1 $ -
Note 2 -
Note 3 678.292
678,292
Less current portion 89.581
Noncurrent portion _L_588 ,711
Interfund Transfers and Due To/Due From
On October 1, 2017, the Sewer Enterprise Fund loaned the Highway, Streets and Roads Fund, for the purpose of the Siphon Road
Interchange, the principal sum of $4,000,000 with an interest rate of .10% and an annual payment of $135,409.98 for 30 years. The
first payment being made on October 1, 2018 and then on the first day of October for each year thereafter until October 1, 2047.
Fund
Due to
Due to
Highway, Streets, and Roads
$ 3,737,049
$
Sewer Enterprise Fund
Balance
31737,049
Reductions
$ 3,737,049
_L_1737
Annual Debt Service Requirements for leases, bonds and notes payable
Year Ending Governmental Activities
Business -type
Activities
September 30 Principal Interest
Principal
Interest
2021 $ $
$ 8,969,766
$ 57,944
2022
1,098,171
50,013
2023
1,107,112
41,796
2024
1,110,203
33,288
2025
1,124,354
23,185
2026-2030
4,580,247
14,114
2031-2035
3,325,448
$ $
$ 21,315,301
$ 220,340
Changes in long-term liabilities
Long-term liability activity for the year was as follows
_L22,179 _L_759 ,684$
_L1.4. 363 _L11.4.56 _L_238 ,209
Long-term portion _LZ2_518
43
Beginning
Ending
Due within
Balance
Additions
Reductions
Balance
one year
Governmental activities
Compensated absences
$ 384,801
$ 547,640
$ 503,135
$ 429,306
$ 85,861
$ 801_6
$ 503,135
_L___429 306
$ 85,861
Long-term portion
_J__343 ,445
Beginning
Ending
Due within
Balance
Additions
Reductions
Balance
one year
Business -type activities
Bonds payable
$ 1,010,000
$ -
$ 130,000
$ 880,000
$ 135,000
Notes payable
21,035,421
567,120
1,166,932
20,435,609
774,934
Compensated absences
134,240
192,564
185,431
141,373
28,275
_L22,179 _L_759 ,684$
_L1.4. 363 _L11.4.56 _L_238 ,209
Long-term portion _LZ2_518
43
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 12 OF 15)
NOTE 11- Conduit Debt Obliaations
Conduit debt has been defined by Generally Accepted Accounting Principles (GAAP) as certain limited -obligation revenue bonds or
similar debt instruments issued by a local governmental entity for the express purpose of providing capital financing for a specific
third parry that is not a part of the issuer's financial reporting entity. In November of 2019, the City issued Certificate of Participation
(COP) in the amount of $14,815,000, to provide the financial assistance needed to construct a new City Hall, remodel the existing
City Hall into Law Enforcement Headquarters and build a new Animal Control Facility. The COP is secured by the properties
financed. The City has entered into a lease back agreement to qualify for the conduit debt. Each year the city has the opportunity
to disclose its intent to renew the annual lease agreement. If the City does not renew the annual lease, the COP holders would
have the rights to the assets. The COP principal balance is reported as deferred inflows on the City's financials and is not a long-
term liability of the City. The option to lease will expire in the year 2043.
There are no voluntary or limited obligations in regards to this Certificate of Participation.
NOTE 12- Stewardship. Compliance and Accountability
A. Deficit Fund Balance
At September 30, 2020, the City had a deficit fund balance in the amount of $2,953,129 in the Highway, Streets, and Roads fund.
The future revenues and reduction of an interfund loan will decrease the deficit fund balance.
NOTE 13- Pension Plan
Plan Description:
The City contributes to the Base Plan which is a cost-sharing multiple -employer defined benefit pension plan administered by Public
Employee Retirement System of Idaho (PERSI or System) that covers substantially all employees of the State of Idaho, its agencies
and various participating political subdivisions. The cost to administer the plan is financed through the contributions and investment
earnings of the plan. PERSI issues a publicly available financial report that includes financial statements and the required
supplementary information for PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov.
Responsibility for administration of the Base Plan is assigned to the Board comprised of five members appointed by the Governor
and confirmed by the Idaho Senate. State law requires that two members of the Board be active Base Plan members with at least
ten years of service and three members who are Idaho citizens not members of the Base Plan except by reason of having served
on the Board.
Pension Benefits:
The Base Plan provides retirement, disability, death and survivor benefits of eligible members or beneficiaries. Benefits are based
on members' years of service, age, and highest average salary. Members become fully vested in their retirement benefits with five
years of credited service (5 months for elected or appointed officials). Members are eligible for retirement benefits upon attainment
of the ages specified for their employment classification. The annual service retirement allowance for each month of credited
service is 2.0% (2.3% for police/firefighters) of the average monthly salary for the highest consecutive 42 months.
The benefit payments for the Base Plan are calculated using a benefit formula adopted by the Idaho Legislature. The Base Plan is
required to provide a 1% minimum cost of living increase per year provided the Consumer Price Index increases 1% or more. The
PERSI Board has the authority to provide higher cost of living increases to a maximum of the Consumer Price Index movement or
6%, whichever is less; however, any amount above the 1% minimum is subject to review by the Idaho Legislature.
Member and Employer Contributions:
Member and employer contributions paid to the Base Plan are set by statute and are established as a percent of covered
compensation. Contribution rates are determined by the PERSI Board within limitations, as defined by state law. The Board may
make periodic changes to employer and employee contribution rates (expressed as percentages of annual covered payroll) that are
adequate to accumulate sufficient assets to pay benefits when due.
The contribution rates for employees are set by stature at 60% of the employer rate for general employees and 72% for police and
firefighters. As of June 30, 2020 it was 7.16% for general employees and 8.81% for police and firefighters. The employer
contribution rate as a percent of covered payroll is set by the Retirement Board and was 11.94% general employees and 12.28% for
police and firefighters. The City's contributions were $697,831 for the year ended September 30, 2020.
44
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 13 OF 15)
NOTE 13 - Pension Plan (Continued)
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions:
At September 30,2020, the City reported a liability for its proportionate share of the net pension liability. The net pension liability was
measured as of June 30, 2020, and the total pension liability used to calculate the net pension liability was determined by an
actuarial valuation as of that date. The City's proportion of the net pension liability was based on the City's share of contributions in
the Base Plan pension plan relative to the total contributions of all participating PERSI Base Plan employers. At June 30, 2020, the
City's proportion was .1641301 percent.
For the year ended September 30, 2020, the City recognized pension expense (revenue) of $1,380,289. At September 30, 2020,
the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources
$164,282 was reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the
measurement date will be recognized as a reduction of the net pension liability in the year ending, September 30, 2020.
The average of the expected remaining service lives of all employees that are provided with pensions through the System (active
and inactive employees) determined at July 1, 2019 the beginning of the measurement period ended June 30, 2019 is 4.8 and 4.8
for the measurement period June 30, 2020.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized
in pension expense (revenue) as follows:
Year ended September 30, 2020:
2021
Deferred
Deferred
160,548
Outflows of
Inflows of
2024
Resources
Resources
Differences between expected and actual experience
$ 297,781
$ 124,448
Changes in assumptions or other inputs
64,456
-
Net difference between projected and actual earnings on pension plan investments
-
Changes in the employer's proportion and differences between the employer's contributions and
the employer's proportionate contributions
409,346
(27,504)
City contributions subsequent to the measurement date
164,282
-
$ 935,865
$ 96,944
$164,282 was reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the
measurement date will be recognized as a reduction of the net pension liability in the year ending, September 30, 2020.
The average of the expected remaining service lives of all employees that are provided with pensions through the System (active
and inactive employees) determined at July 1, 2019 the beginning of the measurement period ended June 30, 2019 is 4.8 and 4.8
for the measurement period June 30, 2020.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized
in pension expense (revenue) as follows:
Year ended September 30, 2020:
2021
$ 12,309
2022
160,548
2023
217,902
2024
283,881
2025
-
Actuarial Assumptions:
Valuations are based on actuarial assumptions, the benefit formulas, and employee groups. Level percentages of payroll normal
costs are determined using the Entry Age Normal Cost Method. Under the Entry Age Normal Cost Method, the actuarial present
value of the projected benefits of each individual included in the actuarial valuation is allocated as a level percentage of each year's
earnings of the individual between entry age and assumed exit age. The Base Plan amortizes any unfunded actuarial accrued
liability based on a level percentage of payroll. The maximum amortization period for the Base Plan permitted under Section 59-
1322, Idaho Code, is 25 years.
The total pension liability in the June 30, 2020 actuarial valuation was determined using the following actuarial assumptions, applied
to all periods included in the measurement:
Inflation
3.00%
Salary increases
3.75%
Salary inflation
3.75%
Investment rate of return
7.05%, net of investment expenses
Cost -of -living adjustments
1%
W
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 14 OF 15)
NOTE 13 - Pension Plan (Continued)
Actuarial Assumptions: (continued)
Mortality rates were based on the RP — 2000 combined table for healthy males or females as appropriate with the following offsets:
• Set back 3 years for teachers
• No offset for male fire and police
• Forward one year for female fire and police
• Set back one year for all general employees and all beneficiaries
An experience study was performed for the period July 1, 2013 through June 30, 2017 which reviewed all economic and
demographic assumptions including mortality. The Total Pension Liability as of June 30, 2020 is based on the results of an actuarial
valuation date July 1,2020.
The long-term expected rate of return on pension plan investments was determined using the building block approach and a
forward-looking model in which best estimate ranges of expected future real rates of return (expected returns, net of pension plan
investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term
expected rate of return by weighing the expected future real rates of return by the target asset allocation percentage and by adding
expected inflation.
Even though history provides a valuable perspective for setting the investment return assumption, the System relies primarily on an
approach which builds upon the latest capital market assumptions. Specifically, the System uses consultants, investment managers
and trustees to develop capital market assumptions in analyzing the System's asset allocation. The assumptions and the System's
formal policy for asset allocation are shown below. The formal asset allocation policy is somewhat more conservative than the
current allocation of System's assets.
The best -estimate range for the long-term expected rate of return is determined by adding expected inflation to expected long-term
real returns and reflecting expected volatility and correlation. The capital market assumptions are as of 2020.
Long -Term
Long -Term
Expected
Expected
Target Nominal Rate
Real Rate of
Asset Class Allocation of Return
Return
Core Fixed Income
Broad US Equities
Developed Foreign Equities
Assumed Inflation - Mean
Assumed Inflation - Standard Deviation
Portfolio Arithmetic Mean Return
Portfolio Standard Deviation
Portfolio Long -Term (Geometric) Expected Real Rate of Return
Assumed Investment Expenses
Portfolio Long -Term (Geometric) Expected Real Rate of Return,
Net of Investment Expenses
Portfolio Long -Term Expected Real Rate of Return, Net of Investment Expenses
Portfolio Standard Deviation
Valuation Assumptions Chosen by PERSI Board
Long -Term Expected Real Rate of Return, Net of Investment Expenses
Assumed Inflation
Long -Term Expected Geometric Rate of Return, Net of Investment Expenses
Discount Rate:
30.00% 2.80%
0.55%
55.00% 8.55%
6.30%
15.00% 8.70%
6.45%
2.25%
2.25%
1.50%
1.50%
6.85%
4.60%
12.33%
12.33%
6.25%
3.89%
0.40%
0.40%
5.85%
3.49%
4.19%
14.16%
4.05%
3.00%
7.05%
The discount rate used to measure the total pension liability was 7.05%. The projection of cash flows used to determine the
discount rate assumed that contributions from plan members will be made at the current contribution rate. Based on these
assumptions, the pension plans' net position was projected to be available to make all projected future benefit payments of current
plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected
benefit payments to determine the total pension liability. The long-term expected rate of return was determined net of pension plan
investment expense but without reduction for pension plan administrative expense.
46
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 15 OF 15)
NOTE 13 - Pension Plan (Continued)
Sensitivity of the Employer's proportionate share of the net pension liability to changes in the discount rate:
The following presents the Employer's proportionate share of the net pension liability calculated using the discount rate of 7.05
percent, as well as what the Employer's proportionate share of the net pension liability would be if it were calculated using a
discount rate that is 1 -percentage -point lower (6.05 percent) or 1 -percentage -point higher (8.05 percent) than the current rate:
Current
1% Decrease Discount Rate 1% Increase
(6.05°/x) (7.05%) (8.05%)
Employer's proportionate share of the net pension liability
(asset) $ 7,815,969 $ 3,811,318 $ 500,124
Pension plan fiduciary net position:
Detailed information about the pension plan's fiduciary net position is available in the separately issued PERSI financial report.
PERSI issues a publicly available financial report that includes financial statements and the required supplementary information for
PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov.
Payables to the pension plan:
At September 30, 2020, the City reported payables to the defined benefit pension plan of $26,853 for legally required employer
contributions and $17,960 for legally required employee contributions which had been withheld from employee wages but not yet
remitted to PERSI.
NOTE 14 - Risk Manaaement
The City is exposed to various risks of loss. The City has obtained commercial insurance to reduce the risk of substantial losses.
The City has established a Health Plan Trust for medical benefits provided to City employees and covered dependents. Health
benefits were self-funded up to a specific stop loss amount of $50,000, and an aggregate stop loss of $1,000,000 for 2020.
Coverage from a private insurance company is maintained for losses in excess of the aggregate stop loss amount. All claims
handling procedures are performed by a third party claims administrator. Incurred but not reported claims have been accrued as a
liability based upon a professional actuary estimate. The estimated liability does not include any allocated or unallocated claims
adjustment expense. All funds for the City participate in the program and make payments by way of the Health Insurance Fund to
the Health Plan Trust based on actuarial estimates of the amounts needed to pay prior and current year claims. The claims liability
of $89,213 reported as accounts payable and accruals in the Health Plan Trust is based on the requirements of Governmental
Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the
issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial
statements and the amount of the loss can be reasonably estimated.
NOTE 15 - Subsequent Events
Subsequent events were evaluated up to March 27, 2021, the date the financial statements were available to be issued.
47
REQUIRED SUPPLEMENTARY INFORMATION
EN
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2020
Resources
General property taxes and sales tax
Franchise fees
State sales and liquor taxes
Parks revenue
Licenses, permits and fines
Grants
Fire protection and prevention
Leases and rents
Interest income
Donations
Charges for services
Other resources
Amounts available for appropriations
Charges to appropriations
General government
Law enforcement
Fire control
Building inspection
Parks and recreation
Health and welfare
Capital outlays
Total charges to appropriations
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
Other Financing Sources
Proceeds from certificate of participation
Proceeds from sale of assets
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Budgeted Amounts
76,139
Variance
3,345
- - 79,484
Actual
Positive
Original
Final
Amounts
(Negative)
$ 2,363,778
$ 5,869,579
$ 5,869,579
$ 6,277,503
$ 407,924
208,680
208,680
186,818
(21,862)
614,000
614,000
426,840
(187,160)
13,750
13,750
2,409
(11,341)
240,761
240,761
220,174
(20,587)
30,000
30,000
335,950
305,950
7,000
7,000
61,832
54,832
91,500
91,500
122,070
30,570
257,252
257,252
147,603
(109,649)
-
-
5,153
5,153
55,000
55,000
3,716
(51,284)
28,000
28,000
9,625
(18,375)
7,415,522
7,415,522
7,799,693
384,171
706,493
706,493
1,303,835
(597,342)
3,951,099
3,951,099
3,507,675
443,424
1,771,000
1,771,000
1,652,703
118,297
238,130
238,130
8,913
229,217
677,000
677,000
509,997
167,003
71,800
71,800
88,129
(16,329)
-
-
804,412
(804,412)
7,415,522
7,415,522
7,875,664
(460,142)
(75,971) (75,971)
- - 76,139
76,139
- - 3,345
3,345
- - 79,484
79,484
- - 3,513
3,513
- - 2,360,265
2,360,265
$ - $ - $ 2,363,778
$ 2,363,778
49
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
HIGHWAY, STREETS AND ROADS
YEAR ENDED SEPTEMBER 30, 2020
Resources
Property taxes
Highway user's revenue
Grant revenue
Road and bridge
Other revenues
Amounts available for appropriations
Charges to appropriations
Salaries and personnel benefits
Supplies
Utilities
Building maintenance
Professional services
Street signing and marking
Street construction and maintenance
Equipment maintenance
Capital outlays
Miscellaneous expenses
Total charges to appropriations
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
Other Financing Sources
Proceeds from certificate of participation
Interest expense
Proceeds from sale of assets
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Budgeted Amounts
Original Final
$ 900,000 $ 900,000
725,000
725,000
125,000
125,000
77,000
77,000
1,827,000
1,827,000
647,500
647,500
7,500
7,500
9,250
9,250
5,000
5,000
12,500
12,500
143,250
143,250
658,500
658,500
158,000
158,000
160,500
160,500
25,000
25,000
1,827,000
1,827,000
Variance
Actual Positive
Amounts (Negative)
$ 853,514 $ (46,486)
718,902
(6,098)
250,000
250,000
69,460
(55,540)
21,703
(55,297)
1,913,579
86,579
722,742
(75,242)
16,538
(9,038)
9,230
20
4,388
612
12,000
500
142,579
671
652,850
5,650
140,652
17,348
966,939
(806,439)
21,698
3,302
2,689,616 (862,616)
(776,037) (776,037)
76,139
76,139
(3,737)
(3,737)
3,000
3,000
75,402
75,402
(700,635) (700,635)
(2,252,494) (2,252,494)
$ - - $(2,953,129) $(2,953,129)
50
Schedule of Employer's Share of Net Pension Liability
PERSI - Base Plan
Last 10 - Fiscal Years*
2020 2019
2018
2017
2016
2015
Employer's portion of the net pension liability 0.001641301 0.001625296
0.001606905
0.001542148
0.00145924
0.001459012
Employer's proportionate share of the net pension liability $ 3,811,318 $ 1,855,230
$ 2,370,213
$ 2,423,992
$ 2,958,104
$ 1,921,281
Employer's covered -employee payroll $ 5,820,108 $ 5,496,835
$ 5,142,733
$ 4,764,551
$ 4,225,127
$ 4,072,262
Employer's proportional share of the net pension liability as a
percentage of its covered -employee payroll 65.49% 33.75% 46.09% 50.88% 70.01%
Plan fiduciary net position as a percentage of the total pension
liability 88.22% 93.79% 91.69% 90.68% 87.26%
* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10 -year trend is compiled, the City will present
information for those years for which information is available
Data reported is measured as of June 30, 2020
51
47.18%
91.38%
Schedule of Employer Contributions
PERSI — Base Plan
Last 10 — Fiscal Years
2020 2019
2018
2017
2016
2015
Statutorily required contribution
$
709,029 $ 643,275
$
594,166
$
545,551
$
503,931
$ 469,058
Contributions in relation to the statutorily required contribution
$
709,029 $ 643,275
$
594,166
$
545,551
$
503,931
$ 469,058
Contribution (deficiency) excess
$
- $ -
$
-
$
-
$
-
$ -
Employer's covered -employee payroll
$
6,009,444 $ 5,597,869
$ 5,318,395
$
4,568,504
$
4,536,572
$ 4,225,217
Contributions as a percentage of covered -employee payroll
11.80% 11.49%
11.17%
11.94%
11.11%
11.10%
* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10 -year trend is compiled, the City will present
information for those years for which information is available.
Data is reported as a measurement of September 30, 2020.
52
CITY OF CHUBBUCK, IDAHO
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
NOTE 1 - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Basis of Budgetary Accounting
The City is required by State law to adopt annual budgets on all governmental funds that cover a period
from October 1, through September 30. All adopted budgets are prepared in accordance with the
modified accrual basis of accounting and are adopted on a basis consistent with generally accepted
accounting principles.
B. Budgetary Information
GENERAL FUND
General government
The City had expenditures in excess of budget of $597,342 in the general government due to an increase
of general maintenance expenditures, COVID adaptation, and expansion. The City did receive $335,950
in grants and used available fund balances to cover the expenditures over budget.
Health & Welfare
The City had expenditures in excess of budget of $16,329 due to an increase in services provided. The
City used available fund balances to cover the expenditures over budget.
Capital Outlays
The City had expenditures in excess of budget of $804,412 due to an increase in equipment
expenditures. The City used available fund balances to cover the expenditures over budget.
Highway. Streets. and Roads
The City had expenditures in excess of budget of $862,616 due to an increase of personnel, supplies,
and capital outlays. The future revenues and reduction of an interfund loan will offset the expenditures
over budget.
53
OTHER SUPPLEMENTARY INFORMATION
CITY OF CHUBBUCK, IDAHO
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2020
55
Special Revenue
Law
Street
Juvenile
Road
Total
Fire Control
Enforcement
Park
Guarantee
Referral
Court
Projects
Parks
Nonmajor
Impact Fees
Impact Fees
Impact Fees
Fund
Fund
Fund
Fund
Fund
Funds
ASSETS
Cash
$ 47,566
$ 43,268
$ 13,860
$ 127,382
$ 5,100
$ 99,026 $
169,125
$ 405,176
$ 910,503
FUND BALANCES
Committed, reported in:
Special revenue fund
$ 47,566
$ 43,268
$ 13,860
$ 127,382
$ 5,100
$ 99,026 $
169,125
$ 405,176
$ 910,503
55
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
56
Special Revenue
Law
Street
Juvenile
Road
Total
Fire Control
Enforcement
Park
Guarantee
Referral
Court
Projects
Parks
Nonmajor
Impact Fees
Impact Fees
Impact Fees
Fund
Fund
Fund
Fund
Fund
Funds
REVENUES
Interest income
$ 48
$ 46
$ 36
$ 136
$ 16
$ 274
$ 521
$ 1,113
$ 2,190
Donations
-
-
-
-
-
-
-
61,794
61,794
Other revenues
35,019
30,834
400
141,658
-
13,747
-
9,129
230,787
35,067
30,880
436
141,794
16
14,021
521
72,036
294,771
EXPENDITURES
Other purchased services
-
-
-
25,481
2,500
-
15,200
43,181
-
-
-
25,481
-
2,500
-
15,200
43,181
NET CHANGE IN FUND BALANCES
35,067
30,880
436
116,313
16
11,521
521
56,836
251,590
BEGINNING FUND BALANCE
12,499
12,388
13,424
11,069
5,084
87,505
168,604
348,340
658,913
ENDING FUND BALANCE
$ 47,566
$ 43,268
$ 13,860
$ 127,382
$ 5,100
$ 99,026
$ 169,125
$ 405,176
$ 910,503
56
57
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2019
Employee
Central Health
Garage Benefit
2020
2019
Fund Fund
Totals
Totals
ASSETS
Current assets
Cash and cash equivalents
$ - $ 345,742
$ 345,742
$ 629,622
- 345,742
345,742
629,622
Noncurrent assets
Restricted assets
Capital assets
261,085 -
261,085
261,085
Accumulated depreciation
(253,574) -
(253,574)
(251,805)
7,511 -
7,511
9,280
7,511 345,742
353,253
638,902
LIABILITIES
Current Liabilities
Accounts payable
21,403 -
21,403
2,355
21,403 -
21,403
2,355
Noncurrent Liabilities
21,403 -
21,403
2,355
NET POSITION
Net investment in capital assets
7,511 -
7,511
9,280
Unrestricted
(21,403) 345,742
324,339
627,267
$ (13,892) $ 345,742
$ 331,850
$ 636,547
57
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2019
OPERATING EXPENSES
Administration
Employee
285,277
285,277
Central
Health
5,322
-
Garage
Benefit
2020
2019
Fund
Fund
Totals
Totals
OPERATING REVENUES
-
28,435
4,668
Interest earnings $ -
$ 1,397
$ 1,397
$ 3,117
Service revenue 78,709
-
78,709
73,931
78,709
1,397
80,106
77,048
OPERATING EXPENSES
Administration
-
285,277
285,277
-
Personnel benefits
5,322
-
5,322
5,600
Repairs and maintenance
20,420
-
20,420
12,411
Supplies and tools
28,435
-
28,435
4,668
Travel, meetings, and training
2,676
-
2,676
4,240
Fuels and lubricants
30,219
-
30,219
33,352
Utilities
10,685
-
10,685
12,936
Depreciation
1,769
-
1,769
2,572
99,526
285,277
384,803
75,779
OPERATING INCOME (LOSS)
(20,817)
(283,880)
(304,697)
1,269
CHANGES IN NET POSITION
(20,817)
(283,880)
(304,697)
1,269
BEGINNING NET POSITION
6,925
629,622
636,547
635,278
ENDING NET POSITION
$ (13,892)
$ 345,742
$ 331,850
$ 636,547
4.4
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2020
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from revenues
Cash paid to suppliers
Cash paid to employees
Net cash provided by operating activities
CASH FLOW FROM NONCAPITAL FINANCING ACTIVITIES
Net cash (used) in noncapital financing activities
CASH FLOW FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Net cash provided (used) in capital and related
financing activities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
BEGINNING CASH AND CASH EQUIVALENTS
ENDING CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS ARE REPORTED AS:
Employee
Central Health
Garage Benefit
Fund Fund 2020 2019
$ 78,709 $ 1,397 $ 80,106 $ 77,048
(73,387) (285,277) (358,664) (68,331)
(5,322) - (5,322) (5,600)
- (283,880) (283,880) 3,117
- (283,880) (283,880) 3,117
- 629,622 629,622 626,505
$ - $ 345,742 $ 345,742 $ 629,622
Cash and cash equivalents $ - $ 345,742 $ 345,742 $ 629,622
Cash and cash equivalents - Restricted - - - -
$ - $ 345,742 $ 345,742 $ 629,622
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
OPERATING INCOME
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation
Increase (decrease) in liabilities
Accounts payable
Total adjustments
NET CASH PROVIDED BY OPERATING ACTIVITIES
061
Employee
Central Health
Garage Benefit
Fund Fund 2020 2019
$(20,817) $(283,880) $(304,697) $ 1,269
1,769 - 1,769 2,572
19,048 - 19,048 (724)
20,817 - 20,817 1,848
$ - $(283,880) $(283,880) $ 3,117
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
Budgeted Amounts Variance
Actual Positive
Original Final Amounts (Negative)
Resources
General property taxes and sales tax
$ 18,600
$ 18,600
$ -
$ (18,600)
Interest income
8,300
8,300
2,190
(6,110)
Donations
80,000
80,000
61,794
(18,206)
Other resources
40,000
40,000
230,787
190,787
Amounts available for appropriations
146,900
146,900
294,771
147,871
Charges to appropriations
Street guarantee fund
19,100
19,100
25,481
(6,381)
Juvenile referral fund
500
500
-
500
Court fund
42,100
42,100
2,500
39,600
Road projects fund
1,200
1,200
-
1,200
Parks fund
84,000
84,000
15,200
68,800
Total charges to appropriations
146,900
146,900
43,181
103,719
NET CHANGE IN FUND BALANCE
-
-
251,590
251,590
BEGINNING FUND BALANCE
-
-
658,913
658,913
ENDING FUND BALANCE
$ -
$ -
$ 910,503
$ 910,503
W
STATISTICAL SECTION
61
CITY OF CHUBBUCK, IDAHO
Statistical Section
This part of the City of Chubbuck's comprehensive annual financial report presents detailed
information as a context for understanding what the information in the financial statements,
note disclosures, and required supplementary information says about the government's
overall financial health.
Contents Page
Financial Trends 63-70
These schedules contain trend information to help the reader
understand how the City's financial performance and well-being
have changed over time.
Revenue Capacity 71-74
These schedulers contain information to help the reader assess
the City's most significant local revenue source, the property tax.
Debt Capacity 75-76
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
City's financial activities take place.
Operating Information 77-79
These schedules contain service and infrastructure data to help
the reader understand how the information in the government's
financial report relates to the services the government provides
and the activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
62
City of Chubbuck
Net Position By Components
Last Ten Fiscal Years
(Accrual -Basis Accounting)
63
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Governmental activities:
Invested in capital assets, net of related debt
$ 5,082,171
$ 7,706,251
$
10,153,123
$
11,396,599
$
10,137,975
$
11,138,839
$
16,829,117
$
24,019,218
$ 26,473,293
$ 28,622,260
Restricted
-
-
-
-
-
-
-
-
-
-
Unrestricted
2,451,180
2,896,706
3,592,593
4,130,936
4,532,072
6,181,447
3,212,484
547,753
(381,048)
(1,695,666)
Total governmental activities net position
7,533,351
10,602,957
13,745,716
15,527,535
14,670,047
17,320,286
20,041,601
24,566,971
26,092,245
26,926,594
Business -type activities
Invested in capital assets, net of related debt
2,260,822
4,402,647
5,460,743
6,091,493
6,086,514
6,814,991
9,217,942
11,612,979
11,876,681
16,363,939
Restricted
237,981
169,081
165,781
167,481
165,181
166,731
168,131
164,850
166,100
167,200
Unrestricted
10,043,852
11,985,356
14,006,605
16,145,285
18,460,974
21,272,113
22,001,056
21,704,355
25,076,744
24,496,821
Total business -type activities net position
12,542,655
16,557,084
19,633,129
22,404,259
24,712,669
28,253,835
31,387,129
33,482,184
37,119,525
41,027,960
Primary government
Net investment in capital assets
7,342,993
12,108,898
$
15,613,866
$
17,488,092
$
16,224,489
$
17,953,830
$
26,047,059
$
35,632,197
38,349,974
44,986,199
Restricted
237,981
169,081
165,781
167,481
165,181
166,731
168,131
164,850
166,100
167,200
Unrestricted
12,495,032
14,882,062
17,599,198
20,276,221
22,993,046
27,453,560
25,213,540
22,252,108
24,695,696
22,801,155
Total primary government net position
$ 20,076,006
$ 27,160,041
$
33,378,845
$
37,931,794
$
39,382,716
$
45,574,121
$
51,428,730
$
58,049,155
$ 63,211,770
$ 67,954,554
63
64
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2011
2013 2014
2012
2015
2016
2017
2018
2019
2020
Expenses
Governmental activities:
General Government
$ 229,616
$ 235,127
$ 352,910 $ 443,813 $
542,494
$ 896,297
$ 880,217
$ 862,299
$ 836,698
$ 1,537,463
Law enforcement
2,714,226
2,576,916
2,782,655 2,771,003
2,868,345
3,188,507
3,310,717
3,447,266
3,492,557
3,896,661
Fire Control
1,170,902
1,307,735
1,313,575 1,335,240
1,519,108
1,360,246
1,307,106
1,417,951
1,556,572
1,939,749
Building Inspection
165,214
158,409
163,631 172,439
172,946
199,277
199,336
217,171
246,220
28,004
Street
831,182
1,087,455
1,122,746 1,450,965
1,524,819
1,487,702
1,426,385
1,293,629
1,210,550
2,042,497
Parks & Recreation
544,793
534,574
494,692 484,041
529,372
591,638
601,054
653,878
623,328
636,713
Health and welfare
44,487
31,462
39,552 51,165
41,171
76,884
83,293
90,621
80,049
88,129
Other special funds
857
17,113
5,150 350
-
20,196
150
1,600
17,100
43,181
CIAWWC Authority
-
-
4,574 2,930
2,930
609,036
609,036
-
-
-
Total governmental activities expenses
5,701,277
5,948,791
6,279,485 6,711,946
7,201,185
8,429,783
8,417,294
7,984,416
8,063,075
10,212,397
Business -type activities:
Water
1,355,305
1,398,887
1,466,297 1,560,406
1,781,501
1,793,535
1,726,443
2,111,162
2,028,807
2,440,008
Sewer
1,669,178
1,847,034
2,072,020 1,709,310
2,200,476
2,319,135
2,363,009
2,649,245
2,705,251
3,174,444
Sanitation
1,174, 725
1,132,300
1,116,071 1,219,283
1,060,218
1,221,934
1,637,470
1,732,030
1,626,740
1,916,682
CIAWWC Authority
-
-
- -
-
-
-
609,036
609,036
609,063
Total business -type activities program expenses
4,199,208
4,378,221
4,654,388 4,488,999
5,042,195
5,334,604
5,726,922
7,101,473
6,969,834
8,140,197
Total primary government program expenses
9,900,485
10,327,012
10,933,873 11,200,945
12,243,380
13,764,387
14,144,216
15,085,889
15,032,909
18,352,594
64
65
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2011
2012
2013 2014
2015
2016
2017
2018
2019
2020
Program Revenues
Governmental activities:
Charges for services:
General Government
237,249
133,808
203,578 134,555
298,505
365,049
414,674
323,186
399,415
342,244
Law enforcement
-
-
- -
35,311
28,918
31,942
29,940
34,221
28,081
Fire control
180,020
210,650
191,317 232,992
197,261
211,041
214,172
237,675
176,925
61,832
Street
-
-
- -
-
-
-
13,165
17,468
1,292
Parks & Recreation
70,900
6,534
4,955 7,203
9,762
10,589
12,728
149,681
14,758
6,125
CIAWWC Authority
-
-
- -
-
-
10,980
-
-
-
Operating grants and contributions
64,685
43,612
128,818 33,200
48,000
43,890
71,329
84,653
179,095
652,897
Capital grants and contributions
-
-
- -
916,767
2,667,268
2,354,109
3,644,635
1,019,354
1,253,033
Total governmental activities program revenues
552,854
394,604
528,668 407,950
1,505,606
3,326,755
3,109,934
4,482,935
1,841,236
2,345,504
Business -type activities:
Charges for services:
Water
2,204,728
2,386,464
2,582,932 2,422,542
2,680,920
2,783,945
2,728,684
2,896,320
2,983,977
2,944,986
Sewer
2,863,260
3,228,353
3,182,335 3,093,116
3,583,861
3,657,738
3,803,714
3,979,134
4,229,957
4,163,168
Sanitation
1,644,935
1,625,302
1,649,604 1,727,680
1,731,740
2,169,627
2,192,420
1,978,239
1,930,472
1,952,196
CIAWWC Authority
-
- -
-
-
-
66,915
21,960
95,330
Operating grants and contributions
11,328
134,662
93,730
-
-
Capital grants and contributions
-
-
228,000
1,045,754
2,785,144
Total business -type activities program revenues
6,712,923
7,240,119
7,414,871 7,243,338
8,007,849
8,611,310
8,859,480
9,242,338
10,212,120
11,940,824
Total primary government program revenues
7,265,777
7,634,723
7,943,539 7,651,288
9,513,455
11,938,065
11,969,414
13,725,273
12,053,356
14,286,328
Net(Expense)/Revenue
Governmental activities
(5,148,423)
(5,554,187)
(5,750,817) (6,303,996)
(5,695,579)
(5,103,028)
(5,307,360)
(3,501,480)
(6,221,839)
(7,866,893)
Business -type activities
2,513,715
2,861,898
2,760,483 2,754,339
2,965,654
3,276,706
3,132,558
2,140,865
3,242,286
3,800,627
Total primary governmental net (expense)/revenue
(2,634,708)
(2,692,289)
(2,990,334) (3,549,657)
(2,729,925)
(1,826,322)
(2,174,802)
(1,360,615)
(2,979,553)
(4,066,266)
65
General Revenues and other Changes in Net Position
Governmental activities:
General Property taxes and sales tax
Franchise fees
Intergovernmental
Leases and rents
Interest income
Proceeds from sale of assets
Gain on sale of assets
Capital contributions
Other revenue
Transfers in (out)
CIAWWC Authority
Total governmental activities
Business -type activities:
Interest income
Capital contributions
Gain on sale of assets
Transfers in (out)
Total business -type activities
Total primary government
Changes in Net Position
Governmental Activities
Business -type activities
Total primary government
66
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2011
2012
2013 2014
2015
2016
2017
2018
2019
2020
4,441,858
4,594,553
4,982,426 5,292,450
5,296,480
5,366,613
5,642,004
5,975,483
6,499,369
7,123,630
179,839
201,128
192,151 203,790
198,493
199,194
201,328
203,950
189,494
186,818
797,354
908,227
955,679 903,149
1,021,666
1,311,704
1,323,581
1,373,948
1,403,606
1,187,121
50,644
52,546
90,843 66,152
-
-
-
-
-
-
30,738
36,797
60,367 60,651
76,828
90,432
98,064
157,760
182,445
160,617
-
-
- 11,154
-
-
-
-
-
-
16,242
17,223
34,788 -
18,038
19,282
54,759
78
6,345
217,034
2,683,248
2,254,771 1,286,887
-
-
-
-
-
-
35,491
18,486
89,066 14,366
41,828
766,042
763,697
199,888
186,953
36,711
-
-
- (3,000)
-
-
-
-
(534,080)
-
-
-
228,000 228,000
-
-
-
-
-
-
5,769,200
8,512,208
8,888,091 8,063,599
6,653,333
7,753,267
8,028,674
7,965,788
7,927,865
8,701,242
22,849
32,121
644 574
-
-
-
4,000
106,283
105,808
-
1,125,220
261,081 13,217
-
-
-
-
-
-
10,800
2,400 -
2,530
86,100
736
11,252
-
2,000
-
- 3,000
100
-
-
-
534,080
-
22,849
1,168,141
264,125 16,791
2,630
86,100
736
15,252
640,363
107,808
5,792,049
9,680,349
9,152,216 8,080,390
6,655,963
7,839,367
8,029,410
7,981,040
8,568,228
8,809,050
620,777
2,958,021
3,137,274 1,759,603
957,754
2,650,239
2,721,314
4,464,308
1,706,026
834,349
2,536,564
4,030,039
3,024,608 2,771,130
2,968,284
3,362,806
3,133,294
2,156,117
3,882,649
3,908,435
$ 3,157,341
$ 6,988,060
$ 6,161,882 $ 4,530,733 $
3,926,038
$ 6,013,045
$ 5,854,608
$ 6,620,425
$ 5,588,675 $
4,742,784
66
City of Chubbuck
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
67
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
General fund
Unassigned
$ 1,884,064
$ 2,348,830
$ 2,708,737
$ 2,933,821
$ 2,952,093
$ 3,410,321
$ 3,939,114
$ 1,239,050
$ 107,771
$ (589,351)
Total General Fund
1,884,064
2,348,830
2,708,737
2,933,821
2,952,093
3,410,321
3,939,114
1,239,050
107,771
(589,351)
All Other Governmental Funds
Committed
629,440
632,837
490,894
511,696
554,175
565,911
453,040
516,555
658,913
910,503
Unassigned:
Special revenue funds
-
-
-
-
-
-
-
-
-
-
Total all other governmental funds
$ 629,440
$ 632,837
$ 490,894
$ 511,696
$ 554,175
$ 565,911
$ 453,040
$ 516,555
$ 658,913
$ 910,503
67
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
68
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Revenues:
Property taxes and sales tax
$ 4,435,834
$ 4,567,959
$ 4,984,949
$ 5,295,493
$ 5,349,772
$ 5,375,566
$ 5,627,360
$ 5,930,753
$ 6,405,974
$ 7,131,017
Franchise fees
179,839
201,128
192,151
203,790
198,493
199,194
201,328
203,950
189,494
186,818
Intergovernmental
797,354
908,227
955,679
903,149
1,021,666
1,311,704
1,323,581
1,373,948
1,403,606
1,187,121
Court Revenue
-
-
-
-
35,311
28,918
31,942
29,940
34,221
28,081
Parks revenue
1,977
2,399
1,720
2,668
5,402
7,629
10,733
7,729
8,670
2,409
License, permits and fines
237,249
133,808
203,578
134,555
219,868
289,199
320,860
231,180
308,615
220,174
Grants
58,465
27,892
302,500
14,800
466,000
248,290
336,433
43,629
109,076
585,950
Fire protection and prevention
180,020
210,650
191,317
232,992
197,261
211,041
214,172
237,675
176,925
61,832
Leases and rents
50,644
52,546
90,843
66,152
78,637
75,850
93,814
92,006
90,800
122,070
Interest income
30,738
36,797
60,367
60,651
76,828
90,432
98,064
157,760
182,445
160,617
Donations
6,220
15,720
54,318
18,400
38,000
23,600
40,149
41,024
70,019
66,947
Charges for services
68,923
4,135
3,235
4,535
4,360
2,960
12,975
155,117
23,556
5,008
Other revenues
35,491
18,486
89,066
14,366
41,827
19,063
65,897
86,449
184,022
249,999
Total Revenues
6,082,754
6,179,747
7,129,723
6,951,551
7,733,425
7,883,446
8,377,308
8,591,160
9,187,423
10,008,043
68
Expenditures:
General government
Law enforcement
Fire control
Building inspection
Street
Parks and recreation
Health and welfare
Street guarantee fund
Court fund
Parks fund
Capital outlays
CIAWWC Authority
Total Expenditures
Excess (deficiency) of Revenues over
(under) Expenditures
69
City of Chubbuck
Changes in Fund
Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
2011
2012
2013
2014 2015
2016
2017
2018
2019
2020
186,863
214,382
326,399
393,539 483,135
574,204
496,074
580,806
621,568
1,303,835
2,616,515
2,494,222
2,669,035
2,695,807 2,843,478
2,960,661
3,062,347
3,287,172
3,354,522
3,507,675
1,127,747
1,174,659
1,211,430
1,234,101 1,431,180
1,213,866
1,181,308
1,300,583
1,463,484
1,652,703
165,214
158,409
163,631
172,439 174,432
181,199
186,059
212,747
244,749
8,913
788,356
1,035,804
1,054,574
1,356,339 1,365,190
1,336,127
1,270,359
1,136,919
1,054,240
1,722,677
498,355
488,874
437,882
442,246 498,932
513,091
502,709
552,176
530,705
509,997
44,487
31,462
39,552
51,165 41,171
76,884
83,293
90,621
80,049
88,129
-
-
5,000
- -
-
-
-
-
-
857
2,780
150
350
1,500
150
1,600
-
-
-
14,333
-
- -
18,696
-
-
17,100
43,181
58,690
225,467
968,502
365,442 409,060
333,207
953,944
4,160,478
2,806,886
1,771,351
4,574
2,930 458,930
230,930
2,930
-
-
-
5,487,084
5,840,392
6,880,729
6,714,358 7,705,508
7,440,365
7,739,173
11,323,102
10,173,303
10,608,461
595,670
339,355
248,994
237,193 27,917
443,081
638,135
(2,731,942)
(985,880)
(600,418)
69
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
70
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Other financing sources (uses):
Proceeds from note payable
-
-
175,281
155,468
11,680
2,930
-
-
-
-
Principal payments on leases
(43,139)
-
-
-
-
Principal payments
(249,263)
(154,929)
(236,050)
Proceeds from certificate of participation
-
-
-
-
-
-
-
-
-
152,278
Interest expense
(3,064)
-
(5,330)
-
-
-
-
(4,000)
(3,869)
(3,737)
Proceeds from sale of assets
16,242
17,223
42,796
11,154
21,153
23,953
13,837
99,393
828
6,345
Transfers in (out)
-
-
-
(3,000)
-
-
-
-
-
-
Total other financing sources (uses)
(29,961)
17,223
(36,516)
8,693
32,833
26,883
(222,213)
95,393
(3,041)
154,886
Net Change in Fund Balances
565,709
356,578
212,478
245,886
60,750
469,964
415,922
(2,636,549)
(988,921)
(445,532)
Beginning Fund Balances
1,947,795
2,625,090
2,987,153
3,199,632
3,445,518
3,506,268
3,976,232
4,392,154
1,755,605
766,684
Prior Period Adjustment
111,586
-
-
-
-
-
-
-
-
-
Ending Fund Balances
$ 2,625,090
$ 2,981,668
$ 3,199,632
$ 3,445,518
$ 3,506,268
$ 3,976,232
$ 4,392,154
$ 1,755,605
$ 766,684
$ 321,152
70
City of Chubbuck
General Government Tax and Intergovernmental Revenues by Source
Last Ten Fiscal Years
(modified accrual basis of accounting)
71
Local Tax Revenues
Intergovernmental Revenues
Local Taxes
Highway
Total
as a
Streets &
Total Local
State Liquor
Highway User's
Court
Road &
Shared Sales
Intergovernmental
Percentage of
Fiscal Year
Property Tax
Franchise Tax
Road
Sales Tax
Taxes
Tax
Revenue
Revenue
Bridge
Tax
Taxes
Total Taxes
Total
2011
4,048,626
180,589
-
373,619
4,602,834
136,058
421,162
46,523
62,263
130,922
796,928
5,399,762
85%
2012
4,118,011
201,128
-
449,949
4,769,088
149,070
451,302
41,915
59,652
206,288
908,227
5,677,315
84%
2013
4,497,017
192,152
-
487,932
5,177,101
154,777
463,463
38,277
72,887
226,276
955,680
6,132,781
849/
2014
4,781,207
203,790
114,496
514,286
5,623,276
152,877
467,297
30,815
66,326
185,833
903,148
6,526,424
86%
2015
4,813,441
198,493
-
536,331
5,548,265
148,641
494,812
35,312
112,443
265,770
1,056,978
6,605,243
849/.
2016
4,164,281
199,194
645,147
566,139
5,574,761
158,211
664,004
28,918
198,466
291,023
1,340,622
6,915,383
81%
2017
4,367,685
201,328
671,658
588,016
5,828,687
160,066
674,106
31,942
175,062
314,347
1,355,523
7,184,210
81%
2018
4,342,621
203,950
962,076
626,056
6,134,703
164,971
685,345
29,940
174,663
348,969
1,403,888
7,538,591
81%
2019
4,820,932
189,494
933,810
651,323
6,595,559
184,041
719,995
34,221
121,341
378,229
1,437,827
8,033,386
82%
2020
$ 5,331,506
$ 186,818
$ 853,514
$ 945,996
$ 7,317,834
$ 205,579
$ 718,902
$ 28,081
$ 69,460
$ 193,180
$ 1,215,202
$ 8,533,036
86%
71
City of Chubbuck
Assessed Valuation and Tax Rate
Last Ten Fiscal Years
Fiscal Year
Real and Personal
Tax Roll
Utilities Tax Roll
Actual Sub Roll
Exemptions Home
Owner's
Exemptions Personal
Property
Total Assessed Actual
Value
Levy Rate
Tax Rate Per $1,000
Value
2011
436,089,131
7,435,674
302,838
230,651,324
674,478,967
0.009150122
$
9.15
2012
446,262,451
7,358,180
488,182
225,397,223
-
679,506,036
0.009324266
$
9.32
2013
454,554,481
7,573,803
513,109
203,675,558
638,203
666,955,154
0.009969299
$
9.97
2014
459,147,628
7,502,193
1,138,795
236,839,910
-
704,628,526
0.009967676
$
9.97
2015
461,440,210
7,884,559
1,017,251
238,171,372
81,774
708,595,166
0.009933799
$
9.93
2016
475,051,058
7,702,297
1,697,797
251,008,396
81,774
735,541,322
0.010140122
$
10.14
2017
507,182,903
8,152,805
469,490
263,554,022
81,744
779,440,964
0.010188661
$
10.19
2018
524,061,262
8,420,799
2,493,034
275,948,575
-
810,923,670
0.010636971
$
10.64
2019
638,286,498
8,626,813
221,259
314,458,115
961,592,685
0.009459658
$
9.46
2020
728,136,576
9,592,530
4,293,710
342,427,509
1,084,450,325
0.006863105
$
6.86
Source: Bannock
County Clerks Office
Note: Twenty percent of the property in the county is reassessed annually. The County assesses property at 100916 of market value. Tax rates are per $1,000 of assessed value.
72
City of Chubbuck
Property Tax Rates
Direct and Overlapping (1) Governments
Last Ten Fiscal Years
(per $1,000 of assessed value)
City of
Chubbuck
City of Chubbuck
Overlapping Rates
County Road 8,
Ambulance Service
School District 25
Combined Levy
lel.
City Rates
Base Rates
Bannock County Rates
Bridge Rates
Abatement Rates
Portneuf Library Rates
Rates
Rates
Rates
2011
0.009150122
9.15
5.28
0.43
0.15
0.57
0.25
3.86
19.70
2012
0.009324266
9.32
4.82
0.41
0.13
0.61
0.24
3.90
19.43
2013
0.009969299
9.97
4.92
0.47
0.0S
0.61
0.40
4.49
20.91
2014
0.009967676
9.97
5.30
0.48
0.05
0.57
0.40
4.14
20.91
2015
0.009933799
9.93
5.28
0.85
0.04
0.58
0.40
4.42
21.50
2016
0.010140122
10.14
S.24
0.73
0.03
0.61
0.40
3.94
21.09
2017
0.010188661
10.19
5.37
0.67
0.03
0.58
0.40
3.88
21.12
2018
0.010636971
10.64
5.62
0.47
0.03
0.61
0.40
3.85
21.62
2019
0.009459658
9.46
4.85
0.53
0.03
0.52
0.35
3.33
19.06
2020
0.006863105
6.86
3.68
0.50
0.03
0.53
0.34
3.19
15.13
Source: Bannock County Assessors Office
(1) Overlapping rates are those of local and county governments that apply to owners within the City of Chubbuck.
73
Taxpayer
Type of Business
IDAHO CENTRAL CREDIT UNION
FINANCIAL INSTITUTE
PINE RIDGE MALL JC LLC
RETAIL
4200 HAWTHORNE LLC
REAL ESTATE HOLDINGS
WAL MART REAL ESTATE
RETAIL
SHJH LLC
APARTMENTS
AGREE LIMITED PARTNERSHIP
REAL ESTATE INVESTMENTS
CARMIKE CINEMAS INC.
ENTERTAINMENT
HD DEVELOPMENT OF MARYLAND INC
REAL ESTATE DEVELOPMENT
IDAHO POWER COMPANY
UTILITIES
TEKLE, HAILE
15,307,395
SHOPKO SPE REAL ESTATE LLC
RETAIL
FNLALL LLC
2
EMERITOL RIDGE WIND LLC
DATABASE
SEARS ROEBUCK AND CO.
RETAIL
PINE RIDGE IDAHO LLC
REAL ESTATE HOLDINGS
1.29%
Total Top Ten
*Estimated Assessment Values
Source: Bannock County Assessors Office
City of Chubbuck
Principal Taxpayers
September 30, 2020
2020 I I 2011
$ 126,633,000 11.68% $ 72,416,730
74
10.74%
Percentage of
Assessed
Total Assessed
Percentage of Total
Valuation
Rank
Valuation *
Assessed Valuation
Rank
Assessed Valuation
46,186,000
1
4.26%
15,307,395
1
2.27%
14,425,000
2
1.33%
12,379,515
2
1.84%
13,963,000
3
1.29%
-
0.00%
10,158,000
4
0.94%
9,709,957
3
1.44%
9,683,000
5
0.89%
-
0.00%
8,383,000
6
0.77%
-
0.00%
7,601,000
7
0.70%
6,062,766
5
0.90%
5,998,000
8
0.55%
7,105,536
4
1.05%
5,309,000
9
0.49%
-
0.00%
4,927,000
10
0.45%
-
0.00%
-
0.00%
5,204,568
6
0.77%
0.00%
4,884,831
7
0.72%
0.00%
4,244,700
8
0.63%
0.00%
3,832,514
9
0.57%
0.00%
3,684,948
10
0.55%
$ 126,633,000 11.68% $ 72,416,730
74
10.74%
City of Chubbuck
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(accrual basis of accounting)
Note: The estimated populations for years 2009, 2012, and 2014 were not available and so the most current estimate was used for these years.
Source: (1) U.S. Census
75
Governmental
Activities
Business Type Activities
(1)
Fiscal
Sanitation
Water Notes
Sewer Note
Total Primary
Estimated
Per
Year
Capital Lease
Notes
Sewer Bond Water Bond
DEQ
DEQ
Government
Population
Capita
2011
1,953,409
65,000 1,995,000
283,370
16,952,087
21,248,866
14,067
1,511
2012
-
1,382,774
- 1,830,000
267,790
17,665,819
21,146,383
14,067
1,503
2013
27,739
1,265,080
1,720,000
251,448
16,873,075
20,137,342
14,125
1,426
2014
-
1,130,594
1,610,000
234,833
16,436,562
19,411,989
14,125
1,374
2015
1,076,827
1,495,000
217,757
16,363,232
19,152,816
14,229
1,346
2016
998,848
1,380,000
200,381
15,297,931
17,877,160
14,517
1,231
2017
927,972
1,260,000
181,814
14,445,385
16,815,171
14,644
1,148
2018
847,636
1,135,000
2,746,190
13,592,841
18,321,667
14,869
1,232
2019
764,418
1,010,000
7,530,708
12,740,295
22,045,421
15,316
1,439
2020
678,292
880,000
8,077,582
11,679,735
21,315,609
16,268
1,310
Note: The estimated populations for years 2009, 2012, and 2014 were not available and so the most current estimate was used for these years.
Source: (1) U.S. Census
75
City of Chubbuck
Revenue Bond Coverage
Water Fund
Last Ten Fiscal Years
Debt Service Requirements (3)
(1) Total revenues ( including interest)
(2) Total operating expenses exclusive of deprecation.
(3) Includes principal and interest of revenue bonds only.
(4) Pledge of Revenues requires the City to provide net revenues equal to not less than 1.25 times the average annual debt service on the bond
al
Pledge of
Net Revenue
Revenues
Available for Debt
Coverage
Fiscal Year
Gross Revenue (1)
Operating Expense (2)
Service
Principal
Interest
Total
Coverage
Requirement (4)
2011
2,219,014
1,229,611
989,403
100,000
24,663
124,663
7.94
6.35
2012
2,411,854
1,222,469
1,189,385
110,000
60,068
170,068
6.99
5.59
2013
2,583,576
1,263,607
1,319,969
110,000
58,338
168,338
7.84
6.27
2014
2,423,116
1,351,349
1,071,767
115,000
56,574
171,574
6.25
5.00
2015
2,680,920
1,532,822
1,148,098
115,000
52,863
167,863
6.84
5.47
2016
2,783,945
1,535,492
1,248,453
120,000
55,514
175,514
7.11
5.69
2017
2,728,684
1,472,240
1,256,444
125,000
45,443
170,443
7.37
5.90
2018
2,896,320
1,832,479
1,063,841
125,000
34,175
159,175
6.68
5.35
2019
2,983,977
1,744,722
1,239,255
130,000
32,182
162,182
7.64
6.11
2020
2,944,986
1,959,268
985,718
135,000
28,420
163,420
6.03
4.83
(1) Total revenues ( including interest)
(2) Total operating expenses exclusive of deprecation.
(3) Includes principal and interest of revenue bonds only.
(4) Pledge of Revenues requires the City to provide net revenues equal to not less than 1.25 times the average annual debt service on the bond
al
City of Chubbuck
Statistical Information
Water Fund
September 30, 2020
Schedule of Water Revenue and Production For Residential,
Commercial, and Government Accounts
Total Revenue $ 2,944,986
Estimated number of active customers 4,556
Total water produced (gallons) 814,231
Schedule of Water Rates
Monthly Base Fee (by meter size)
Size
Price Circuit Breaker
1" or less
$ 24.00 $ 16.80
1.5 "
69.10
2"
106.95
3"
222.45
4"
364.60
6"
736.70
8"
1,153.75
10"
1,762.60
Volumetric charge: $1.15 per 1,000 gallons metered water.
Volumetric charge for circuit breaker: $.80 per 1,000 gallons
metered water.
77
CITY OF CHUBBUCK, IDAHO
Ten Largest Water System Customers
For The Fiscal Year Ended September 30, 2020
(per 1,000 gallon used)
Total Usage
78
814,231 11.4%
% of Total
Water
Top Ten
% of Total
Customer
Business Type
Usage
Consumers
Usage
Pine Ridge Mall JC LLC
Shopping Center
40,243
43.5%
4.9%
Circle Inn Trailer Park
Mobile Home Park
9,609
10.4%
1.2%
Idaho Central Credit Union
Banking
9,398
10.2%
1.2%
Seven Synergy LLC
Staffing Services
6,273
6.8%
0.8%
Camelot Estate
Mobile Home Park
5,669
6.1%
0.7%
Meadows MHP
Apartment Complex
4,437
4.8%
0.5%
Auto Zone Parts Inc.
Motel
4,300
4.6%
0.5%
Pine Ridge Idaho LLC
Apartment Complex
4,275
4.6%
0.5%
Pheasant Ridge HOA Inc.
Residential Development
4,200
4.5%
0.5%
Pheasant Ridge HOA Inc.
Residential Development
4,149
4.5%
0.5%
Total Top Ten Consumers
92,553
100.0%
Total Usage
78
814,231 11.4%
City of Chubbuck
Statistical Information
Sewer Fund
September 30, 2020
Schedule of Sewer Revenue For Residential, Commercial, and Government Accounts
Total Revenue
Schedule of Sewer Rates
Monthly Base Fee
Regular
Residential $ 47.25
NWSI Residential 10.45
$ 4,163,168
Circuit Breaker
$ 33.05
Commercial rate for businesses North of the Interstate is $6.67343 per $1,000 gallons of water used.
Commercial rate for businesses South of the Interstate is $7.82343 per $1,000 gallons of water used.
NWSI Commercial rate is winter water average usage divided by $6.85 and multiplied by $10.45.
79
SINGLE AUDIT SECTION
.l
CITY OF CHUBBUCK
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For The Fiscal Year Ended September 30, 2020
Federal Grantor/Pass-Through Grantor/Program Title CFDA Grant Number Expeditures Subrecipients
U.S. Department of Transportation
Highway Safety Cluster:
Passed through the Idaho Transportation Department
State and Community Highway Safety 20.600 SDD1901 990
National Priority Safety Programs
Total U.S. Department of Transportation Highway Safety Cluster
U.S. Department of the Treasury
Coronavirus Relief Fund
Total U.S. Department of the Treasury
U.S. Department of Environmental Protection Agency
Drinking Water State Revolving Fund Cluster:
Passed through the State of Idaho Department of Environmental Quality
Capitalization Grants for Drinking Water State Revolving Funds
Total U.S. Department of Environmental Protection Agency Cluster
Executive Office of the President:
High Intensity Drug Trafficking Areas Program:
Total Executive Office of the President
Total Expenditures of Federal Awards
20.600
SPT2002
1,271
20.600
SPT2002
2,138
20.600
SOP20EB
3,968
20.616
SID19EC
3,123
20.616
SID20EA
1,770
20.616
SID20EB
1,386
20.616
SID20EC
1,357
21.019
20-1892-0-1-806
16,003
21.019
20-1892-0-1-806
20,928
21.019
20-1892-0-1-806
21,431
21.019
20-1892-0-1-806
133,756
21.019
20-1892-0-1-806
100,912
21.019
20-1892-0-1-806
12,612
21.019
20-1892-0-1-806
12,220
21.019
20-1892-0-1-806
15,423
21.019
20-1892-0-1-806
960
318,242
66.468 DW1602 439,688
439,688
95.001 G190R0004AONDCP 788
95.001 G190R0004AONDCP 897
81
See accompanying notes
1,685
775,618
CITY OF CHUBBUCK, IDAHO
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
NOTE 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal
award activity of the City of Chubbuck (City) under programs of the federal government for the year
ended September 30, 2020. The information in this Schedule is prepared in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of the City, it is not intended
to and does not present the financial position, changes in assets, or cash flows of the City.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
NOTE 3. DE MINIMIS INDIRECT COST RATE
The City has elected not to use the 10 -percent de minimis indirect cost rate allowed under the Uniform
Guidance. The City has elected to use the Simplified Allocation Method for certain grants, as approved
NOTE 4. SUBRECIPIENTS
The City does not pass federal awards received from federal funding to other governments or not-for-
profit agencies (subrecipients).
NOTE 5. MATCHING REQUIREMENTS
The federal funding received by the City does not require the City to contribute matching funds to
support the federal funded programs.
82
Deaton & Company, Chartered
Certified Public Accountants
215 North 9th, Suite A
Pocatello, ID 83201-5278
(208)232-5825
Members of the Idaho Society of Certified Public Accountants
Members of the American Institute of Certified Public Accountants =
INDEPENDENT AUDITORS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standardsd issued by the
Comptroller General of the United States, the financial statements of the governmental activities, the business -
type activities, each major fund, and the aggregate remaining fund information of City of Chubbuck, as of and for
the year ended September 30, 2020, and the related notes to the financial statements, which collectively
comprise City of Chubbuck's basic financial statements, and have issued our report thereon dated March 27,
2021.
Internal Control Over Financial Reportina
In planning and performing our audit, we considered City of Chubbuck's internal control over financial reporting
as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of City of Chubbuck's internal
control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the City of
Chubbuck's internal control over financial reporting.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements
will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or,
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that have not been
identified. We did not identify any deficiencies in internal control over financial reporting, that we would consider
to be a significant deficiency in internal control over financial reporting.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether City of Chubbuck's financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of
our tests disclosed no instances of noncompliance or other matters that are required to be reported under
Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity's internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Pocatello, Idaho
March 27, 2021
Deaton & Company, Chartered
Certified Public Accountants tiff
215 North 9th, Suite A
Pocatello, ID 83201-5278
(208)232-5825
Members of the Idaho Society of certified Public Accountants_
Members of the American Institute of Certified Public Accountants
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR EACH MAJOR PROGRAM AND ON
INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
Report on Compliance for Each Major Federal Program
We have audited City of Chubbuck's compliance with the types of compliance requirements described in the
OMB Compliance Supplement that could have a direct and material effect on each of City of Chubbuck's major
federal programs for the year ended September 30, 2020. City of Chubbuck's major federal programs are
identified in the summary of auditor's results section of the accompanying schedule of findings and questioned
Management's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants
applicable to its federal programs.
Auditor's Responsibility
Our responsibility is to express an opinion on compliance for each of City of Chubbuck's major federal programs
based on our audit of the types of compliance requirements referred to above. We conducted our audit of
compliance in accordance with auditing standards generally accepted in the United States of America; the
standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200,
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Those standards and the Uniform Guidance require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirements referred to
above that could have a direct and material effect on a major federal program occurred. An audit includes
examining, on a test basis, evidence about City of Chubbuck's compliance with those requirements and
performing such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal
program. However, our audit does not provide a legal determination of City of Chubbuck's compliance.
Opinion on Each Major Federal Program
In our opinion, City of Chubbuck, complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on each of its major federal programs for the year
ended September 30, 2020.
Report on Internal Control Over Compliance
Management of City of Chubbuck, is responsible for establishing and maintaining effective internal control over
compliance with the types of compliance requirements referred to above. In planning and performing our audit of
compliance, we considered City of Chubbuck's internal control over compliance with the types of requirements
that could have a direct and material effect on each major federal program to determine the auditing procedures
that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major
federal program and to test and report on internal control over compliance in accordance with the Uniform
Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over
compliance. Accordingly, we do not express an opinion on the effectiveness of City of Chubbuck's internal control
over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over compliance
does not allow management or employees, in the normal course of performing their assigned functions, to
prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a
timely basis. A material weakness in internal control over compliance is a deficiency, or combination of
deficiencies, in internal control over compliance, such that there is a reasonable possibility that material
noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and
corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a
combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal
program that is less severe than a material weakness in internal control over compliance, yet important enough to
merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control over compliance that might be
material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over
compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not
been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance. Accordingly, this report is not suitable for any other purpose.
Pocatello, Idaho
March 27, 2021
CITY OF CHBBUCK, IDAHO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED SEPTEMBER 30, 2020
SECTION I - SUMMARY OF AUDITOR RESULTS
Financial Statements
Type of auditor's report issued: Unmodified
Internal control over financial reporting
Material weakness(es) identified? No
Significant deficiencies identified? No
Noncompliance material to financial statements noted? No
Federal Awards
Internal control over major programs
Material weaknesses identified? None reported
Significant deficiencies identified? None reported
Type of auditor's report issued on compliance for major programs: Unmodified
Any audit findings disclosed that are required to be reported in
accordance with 2 CFR section 200.516(a)? No
Major programs
CFDA Number Name of Federal Proaram
Capitalization Grants for Drinking Water
66.468 State Revolving Funds
Dollar threshold used to distinguish between type A and type B
programs: $ 750,000
Auditee qualifies as a low-risk auditee? Yes
SECTION II - FINDINGS - FINANCIAL STATEMENT AUDITS
None
SECTION III - FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDIT
None
PRIOR YEAR FINDING NONE
87
EMM
Electronic Municipal Markel Access
A;LNtvi &u•.e MSP8
Submission ID: P31082394
Submission Date: 3/2912021 5:34 PM
Status: PUBLISHED
Disclosure Categories
Rule 15c2-12 Disclosure
!Audlted Financial Statements or GAFR for the year ended 0913012D20
Document
File
2020 City of Chubbuck - CAFR.pdf
Associated Securities
The following are associated with this continuing disclosure submission.
CUSIP-6 Issuer Name
171259 CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO
Total CUSIPs associated with this submission: 6
The disclosure will be published for the following securities.
CUSIP-9 Issue Description
171259BE3 CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO WATER REVENUE BONDS, SERIES 2011
171259BFO CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO WATER REVENUE BONDS, SERIES 2011
................
171259BGB CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO WATER REVENUE BONDS, SERIES 2011
171269BHU CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO WATER REVENUE BONDS, SERIES 2011
1712598J2 CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO WATER REVENUE BONDS, SERIES 2011
171259BK9 CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO WATER REVENUE BONDS, SERIES 2011
Subm€tter's Contact Information Issuer's Contact Information
US BANK NATIONAL ASSOCIATION
Name: CHRISTINA STOODILL
Address: 1420 FIFTH AVE
City, State Zip: SEATTLE, WA 98101
Phone Number: 2063444877
Email: ch6stina.stogdill@usbank.com
02021 Municipal Securities Rulemaking Board (MSRB)
Period Date
03129!2021
Dated Date
Maturity Date
Coupon (%)
0912812011
09/01/2021
3
09/28/2011
09101/2022
3
09128/2011
09101/2023
3
09128/2011
09/0112024
4
0912812011
09/01/2025
4
09/28/2011
09101/2026
4.75
Obligated Person's Contact Information
City of Chubbuck
Name: Dan Christensen
Address:
City, State Zip:
Phone Number:
Email: dch4stensen@eityofchubbuck.us
2020 City of Chubbuck Financials.pdf posted 03/29/20216:49:34 PM
The following issuers are associated with this continuing disclosure submission:
CUSIP6 State Issuer Name
171255 ID CITY OF CHUBBUCK, IDAHO
The following 16 Securities have been published with this continuing disclosure submission:
Security: CUSIP - 171255AA0, Maturity Date - 09/01/2021
Security: CUSIP - 171255AB8, Maturity Date - 09/01/2022
Security: CUSIP - 171255AC6, Maturity Date - 09/01/2023
Security: CUSIP - 171255AD4, Maturity Date - 09/01/2024
Security: CUSIP - 171255AE2, Maturity Date - 09/01/2025
Security: CUSIP - 171255AF9, Maturity Date - 09/01/2026
Security: CUSIP - 171255AG7, Maturity Date - 09/01/2027
Security: CUSIP - 171255AH5, Maturity Date - 09/01/2028
Security: CUSIP-171255AJ1, Maturity Date - 09/01/2029
Security: CUSIP - 171255AK8, Maturity Date - 09/01/2030
Security: CUSIP - 171255AL6, Maturity Date - 09/01/2031
Security: CUSIP - 171255AM4, Maturity Date - 09/01/2032
Security: CUSIP - 171255AN2, Maturity Date - 09/01/2033
Security: CUSIP - 171255AP7, Maturity Date - 09/01/2034
Security: CUSIP - 171255AU6, Maturity Date - 09/01/2039
Security: CUSIP - 171255AZ5, Maturity Date - 09/01/2044
Please follow the link to make changes to this submission:
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Dan Christensen
From: Doni Langston <Doni.Langston@zionsbank.com>
Sent: Monday, March 29, 2021 4:55 PM
To: Jennifer Mabbott
Subject: FW: Confirmation: Continuing Disclosure Submission Successfully Published to EMMA
Please verify.
Thanks,
Doni Langston, Corporate Trust Specialist Zions Bancorporation, National Association Corporate Trust, Zions Bank
Division
800 W. Main Street, Suite 700
Boise, ID 83702
(208) 501-7521
Doni.Langston@Zionsbanl<.com
-----Original Message -----
From: EMMANotifications@msrb.org<EMMANotifications@msrb.org>
Sent: Monday, March 29, 20214:54 PM
To: Doni Langston <Doni.Langston@zionsbank.com>
Subject: Confirmation: Continuing Disclosure Submission Successfully Published to EMMA
? EXTERNAL EMAIL! Question links/attachments.
Your continuing disclosure submission has been published and can be viewed on the MSRB's Electronic Municipal
Market Access (EMMA®) website at the following link:
https.//urldefense.com/v3/_https://emma.msrb.org/ContinuingDisclosureView/ContinuingDisclosureDetails.aspx?sub
mission!d=P31082502_;!!Jyr_0-kt4U4!S2c6ViLznSDKdo_VdOd9CoS908-
3CrHO6JJ byVPErZWan2c6ma2ZLR91<Eguskf2gvmcwuA$
Submissionld: P31082502
Disclosure Type: FINANCIAL/OPERATING FILING Audited Financial Statements or CAFR (Rule 15c2-12): 2020 City of
Chubbuck CAFR and Table Updates for the year ended 09/30/2020
Document Name: Financial Operating Filing dated 03/29/2021