HomeMy WebLinkAbout2021CITY OF CHUBBUCK, IDAHO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021
TABLE OF CONTENTS
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
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, 2021
TABLE OF CONTENTS - CONTINUED
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 62
Financial Trends 63-70
Revenue Capacity 71-74
Debt Capacity 75-76
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
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Idaho State Law requires that all general-purpose local governments with an annual budget that exceeds
tVY o 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 (GAAS) by a fine 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, 2021.
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 fine of licensed certified public accountants has issued an unmodified
opinion on the City of Chubbuck's financial statements for the year ended September 30, 2021. 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.
Chir € it I
The City of Chubbuck (population 16,608) 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 58,602. The City is located in Bannock County with a 2021 estimate census population of
91,210. 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 committees, 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 moiutored
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
Gur 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 28, 2022
Rich Morgan
City Treasurer
Daniel Christensen
City ALCCGuntant
CITY OF CHUBBUCK, IDAHO
List of Principal Officials
SEPTEMBER 30, 2021
Title Name
Mayor
Council President
Council Member
Council Member
Council Member
Elected Officials
City Officials
City Attorney
Public Works Director
City Engineer
Sewer/Water Superintendent
Sanitation/Streets Superintendent
Treasurer
City Clerk
Human Resource Officer
City Accountant
Planning and Development
Police Chief
Computer Information Systems
Parks & Recreation
Fire Chief
Kevin England
Ryan Lewis
Melanie Evans
Dan Heiner
Roger Hernandez
Tom Holmes
Rodney Burch
Bridger Morrison
Scott Baker/Cameron Lusk
Ryan Sullivan
Rich Morgan
Joey Bowers
Scott Gummersall
Dan Christensen
Devin Hillam
Bill Guiberson
Sergei Tomin
Bill Guinn
Merlin Miller
CITY OF LHUBBULK
ORGANIZATION CHART
E
ANIMAL
CONTROL
PARKS AND
RECREATION
Deato><n SL Companny, Chartered
Certified Public Accountants
215 North 9th,. Suite A
Pocatello, Idaho 83201-5278
(208) 232-5825
Members of Idaho Society of Certified Public Accountants
Members of American Institute of Certified Public Accountants
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
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, 2021, and the related notes to the financial statements,
which collectively comprise the City's basic financial statements as listed in the table of contents.
11111111 1 11 11111111111, !111,111111 mill III 1 111111111 !111111111111111111 1
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.
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.
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, 2021, 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.
Finphasis of a Matter= Change in Reporting Entity
As described in Note 18 to the finanical statements, The City no longer reports the Health Plan Trust as a fiduciary fund
Df the City and, as a result, changed reporting of the Trust to an Enterprise fund in accordance with the provisions of
GASB Statement No. 10, which as resulted in a srestatement of the net position as of October 1, 2020. Our opinions are
not modified with respect to this matter.
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 anv 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 2020 audited financial statements
and, in our report dated March 27, 2021, 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 28, 2022, 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 28, 2022
CITY OF CHUBBUCK, IDAHO
Management's Discussion and Analysis
For the Year Ended September 30, 2021
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,
2021. We encourage readers to consider the information presented here in conjunction with additional
information that we have furnished in our letter of transmittal.
Financial Highlighfis
• 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 $79,029,691 (net
position).
• The governments net position increased by $10,596,609. Approximately 50 percent of
this increase, $5,253,279 is attributed to capital contributions.
• At the end of the current fiscal year, unassigned fund balances for the general fund
were $2,912,732 or 31 percent of total general fund expenditures.
• In the City's business -type activities, operating revenues increased by $1,998,332, and
operating expenses increased by $1,358,887. These differences are due to a
combination of increases in services used and increases in operating costs.
• During the current fiscal year, City of Chubbuck's overall liabilities had a decrease of
$2,671,033 from $28,378,670 to $25,707,637 (including compensated absences). The
decrease was primarily due to a reduction in unearned revenue and net pension
liabilities.
• 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 20211
City of Chubbuck completed 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 aprivate-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. Over time,
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 now 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 the City's
financials.
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 the City's
financials.
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 the City's financials.
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 3347 of the City's
financials.
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 $79,029,691 as of September 30, 2021.
The largest portion of the City %J Chubbuck'a 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 liabilitiesoutstanding
Other liabilities
DEFERRED INFLOWS
Pension
Certiticate or participation
NET POSITION
Net investment in capital assets
Restricted
Unrestricted
Total net position
City of �liu6bucl�"s Nei Pa�ition
Governmental Activities Business Activities Total
2021
2020
2021
2020
2021
2020
S 4,741,568 S 1,622,259 5 24,485,477 S 23,029,624 S 29,227,045 S 24,651,883
32, ?33,009 28,622,260 52,0?5.446 42,829,274 84.808,455 71,451,534
37,474,.577 30,244,519 76,560,923 651858,898 114,035,500 96,103,417
1,283,818 630,614 545,136 305,250 1,828,954 935,864
371,544 2,911,628 19,700,917 21,798,685 20,072,461 24,710,313
2,242,683 819,309 3,392,493 2,849,048 5,635,176 3,668,357
21614,227 31730,937 23,093,410 24,647,733 25,707,637 28,378,670
2, 897, 955
1, 696, Z27
32,641,830
65,324
152,2?8
28, 622,260
1,230,545
5,302,369
41, 932, 621
168,150
31, 620
456,835
16,363,939
167,200
4,128, 530
6,998,596
74,574,451
168,150
44,986,199
167,200
091,874]5,378,964 24,496,821 x,287,090 22,801,155
S 31,549,956 S 26,926,594 S 47,479,735 S 41,027,960 S 79,029,691 S 67,9546
695,666)
554
The restricted portion of the City of Chubbuck's net position $168,150, represent resources that are
subject to external restriction on how they maybe used. The remaining balance of unrestricted net
position $4,287,090, may be used to meet the governments' ongoing obligation to citizens and
creditors.
As of September 30, 2021, the City can 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, 78 percent of the liabilities are made up of noncurrent liabilities.
The decrease by 94 percent in total liabilities, compared to previous year, is due to a reduction in net
pension liabilities.
15
Governmental activities. Governmental activities' key elements are broken down in the following
charts. Government activities increased net position by $4,623,362 and business -type activities
increased net position by $5,973,247.
The City of Chubbuck'a direct charges to users of governmental services totaled $436,842. These charges
are for park rentals, building permits and other fees related to public safety and administration. The
general government accounts for 87 percent of the total charges for services. Public safety includes the
fire and police department and accounts for 54 percent of total charges for services.
Below is summary of the City of Chubbuck's Changes in Net Position.
REVENUES
Program revenues:
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenue.
Property taxes
Franchise fees and intergovernmental
Other
Transfers in
Tfltai Revenues
EXPENSES
General government
Public safety
Planning and development, streets
Parks and recreation
Community services
LVater
Sewer
Sanitation
Health plan trust
CIAw1NC Authoritl
Transfers out
Total expenses
NET CHANGE IN NET POSITION
City of Clnibbuck's Changes in Net Position
Governmental Activities Business Activities Total
NOM
2020
2021
2020
2421
2020
S 436,342 S 439,574 � 13.,154,012 S 9,155,630 S 11,590,854 S 9,595,254
21345,551 652,897 - - 21345,551 652,897
2,2531204 1,253,033 31228,076 21785,144 5,481,280 4,0387177
4,790,711
7,123,630
- - 4,790,711
7,123,630
3,436,987
1,373,939
- - 3,436,987
1,373,939
833,328
203,673
824,596 107,808 11657,924
311,481
21135,983
2,070,501
-
-
14,096r623
11,046,746
15,2061684 12,0481632 29,3031307
23,095,378
1,348,508
41623,362 8341349 5,973,247 31908,435 16,596,609 4,7421
1,537,463
-
-
1,348,508
3.,537,463
5,090,452
5,836,410
-
-
5,090,452
5,836,410
21135,983
2,070,501
-
-
2,135,983
2,0701501
8021354
636,713
-
-
802,354
636,713
95x964
131,310
-
-
95,964
131,310
-
-
2,742,104
2,4401008
2,742,104
2,440,005
-
-
2,868,693
3,174,444
2,8681693
3,1741444
-
-
3.1969,580
1,9161682
1,9691580
1,916,682
-
-
11346,956
-
3.1346,956
-
-
-
306,104
609,063
306,104
609,063
81140,197
18,352,594
9,2331437
18,706,698
9,4731261
10,212,397
784'
NET POSITION beginning- RESTATED 26,926,594 26,092,245 41,506,488 37,219,525 68,433,082 63,211,77Q
NET POSITION ending X31,549,956 S26,926,594 S47,479,735 S41,027,960 S79,029,691 S 67,954,554
16
Expenses and Program Revenues —Governmental Activities
rrr r:rr
rr,r rrr
rrr rrr
rr� rrr
• The majority of the City of Chubbuck's governmental activities' revenue is received from
property tax 34 percent.
• When all taxes, franchise fees, and intergovernmental revenues are added together, they make
up 88 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 2021.
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.
Business type activities. Businesses -type activities' key elements are broken down in the following
charts.
Revenue by Saurce -Business Type Activities
Other 824,396 5.42%
�sj000ra0o
4soo01000
3,500,000
S, 000,0 O O
2,500;0 0 0
$ 2,000;.0 0 0
1,500,0 0 0
x.,000;000
$500,000
Expo r,��
• 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 $2,107,081. Of which $540,267 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 $363,322. With the other financing sources and uses, the net change in the general fund increase
$548,050 for fiscal year 2021. 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: $4,197,195, Sewer:
($1,341,982), and Sanitation: $1,833,266. The water fund had an increase in net position of $2,136,303;
the sewer fund had an increase in net position of $2,552,372; and the sanitation fund had an increase in
net position of $378,801.
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 $548,050
increase in the general fund balance. The major variances in expenditures were due to an increase in the
general government and capital outlays expenditures. The highway, streets and roads fund actual
revenues and expenditure were more than budget. The difference accounts for a $580,664 increase 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, 2021, amounts to $84,678,559 (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 $34,026,470. The increase in assets includes development contributions of $5,253,279.
20
Land
Building & improvements
Jehicles & Equipment
infrastructure
+ork in Progress
CiAV VCA:
Land
Infrastructure
Office Equipment
eater Rights
Total
City of Chubbuck s Capital Assets
Governmental 1Activltie5
2021 2020
S 21643,092
7,384,595
5,387,752
19,726,936
5,758,995
S 2,137,999
4,822,.142
5;22B,317
13,511,232
51664,961
S
Business Actives
2421 2020
2,159,317 S 1,338,797
47,557,894 21,052,955
3,328,801 7,771,799
1,701,858
3,295,'176
- 335,225
18,183,193
Total
2021 2020
S 41802,909 S 31975,796
55,5521590 25,885,108
131715,553 1310001115
9y726,936 18, 511, 282
71460,853 31950,137
- 385,225
18,183,193
- - 2,421,157 2,421,157 2,421,167 2,421,'957
S 411401,471 S 36,3641701 S 52,279,537 S 54,9591324 S 1031681,008 8 91,324,025
Additional information on the City of Chubbuck's capital assets can be found in note 9 on page 41 of the
City's financials.
Long-term debt. At the end of the current fiscal year, the City of Chubbuck had total long-term debt
outstanding of $20,072,461. Of this amount, $11,035,206 is comprised of notes to the Department of
Environmental Quality for wastewater infrastructure. Long-term debt also includes bonds with a
remaining balance of $781,777 used for purchasing water rights.
The State of Idaho mandates a general obligation debt limit of 10 percent of the assessed market value
oT taxable property within the City boundaries. The City of Chubbuck currently has no general obligation
debt. The limit totaled $80,708,973 based on September 30, 2021's actual assessed values. Therefore
$80,708,973 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 290 E. Linden Ave, Chubbuck, ID 83202, telephone (208)237-2400.
21
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
SEPTEMBER 30, 2021
ASSETS
Current assets
Cash and cash equivalents
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
Net pension asset
Investments
Capital assets
Accumulated depreciation
Pension
DEFERRED OUTFLOWS
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
Health Claims incurred but not reported
Utility deposits
Noncurrent liabilities
Bonds payable, net unamortized premium
Notes payable
Accrued compensated absences
DEFERRED INFLOWS
Pension
Certificate of
2 897 985
participation
NET POSITION
Net investment in capital assets
Restricted
Unrestricted
Governmental
Activities
$ 7,288,898
658,205
285,253
13,003
(31605,376)
78,302
23,283
41741,568
41,401,471
(81759,641)
32,733,009
37,474,577
1,283,818
677,781
263, 384
3,605
1, 05,027
92,886
2,242,683
371, 544
371, 544
2,614,227
1, 696, 227
32,641,830
(1,091,874)
$
$ 47,479,735 31,549,956
Business -type
Activities
$ 17,463,213
31605
31605,376
471828
796,459
21,916,481
168,150
405,081
38,717
11995,765
62,279,537
(10,242, 808)
54, 644, 442
76, 560, 923
545,136
1,001,558
115, 339
2, 346
532,421
105,429
32,556
147,355
9661818
83,590
405,081
3,392,493
634,422
18,936,270
130,225
19,700,917
23,093,410
1,230,545
5, 302, 369
41,932,621
168,150
5,378,964
Development
Total Authority
$ 24,752,111
658,205
285,253
16,608
126,130
819, 742
26,658,049
168,150
405,081
129,896
1,995,765
103,681,008
(19,002,449)
87,377,451
$ 3 0931753
11,451
2,975
3,108,179
1,622,524
1622,524
114,035,500 4,730,703
1, 828, 954
1,679,339
378,723
21346
536,026
1,310,456
125,442
147,355
966,818
83,590
_ 405,081
5,635,176
See accompanying notes to financial statements
634,422
18,936,270
501,769
20,072,461
4,128,530
6,998,596
74,574,451
168,150
4,287,090
$ 7910291
691
179, 929
206,000
235,616
621,545
1656,500
1,656,500
25,707,637 21
278,045
(475,592)
2,416,951
511, 299
$ 21
452,658
FunctionslPrograms
Primary Government:
Governmental activities:
General government
Law enforcement
Fire control
Planning and development
Highway, streets, and roads
Parks and recreation
Community services
Other special funds
Business -type activities
Water
Sewer
Sanitation
Health plan trust
CIAWWC Authority
Total primary government
Component Unit:
Chubbuck Development Authority
Net (expense)/revenue
General revenues
$ 5 148 651
Property taxes
Franchise fees
Intergovernmental income
Grant revenue
Interest income
Gain from asset disposal
Other revenue
NET CHANGE IN NET POSITION
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Expenses
$ 1, 348, 508
3,288,219
11802,233
3711732
1,764,251
802,354
91,539
4,425
Program Revenues Total
Operating Capital Net
Charges for Grants and Grants and (Expense) Development
Services Contributions Contributions Revenue Authority
$ 379,116
27,335
5,009
8,493
16,889
9,473,261 436,842
9,867 - (31251,017) -
(11797,224) -
(371,732) -
21253,204 497,446 -
(785,465) -
- (91, 539) -
11,498 - 71073 -
21345,551 21253,204 (414371664) -
2, 742,104 3,167, 282 - 1, 687,196 2,112, 374 21868,693 41403,367 - 11009,275 21543,949 -
11969,580 21044)405 - 3031605 378,430 11346,956 1,484, 058 - - 137,102 -
3061104 54,900 - 228,000 (23,204) -
91233,437 11,154,012 - 31228,076 51148,651 -
$ 18, 706, 698 $ 11, 590, 854 $ 21345,551 $ 51481,280 $ 710,987
BEGINNING NET POSITION -RESTATED
ENDING NET POSITION
General Business -type
Activities Activities
$ (4,437,664)
4,790,711
195,483
3, 241, 504
Total
$ 710,987
4,790,711
195,483
3,
11504
$ (4,708,382)
$ (4,708,382)
Development
Authority
$ (41
708,382)
2, 952, 591
97,869 24,178 1221047 12,709
8001418 8001418 -
735,459 - 7351459 53,242
91061,026 824,596 91885,622 31192,165
41623,362 51973,247 10,596,609 (11
516,217)
261594 41, 506,488 681 433, 082 31 U0010 I U
26,
$ 31,549,956 $ 47,479,735 $ 79,029,691 $ 2,452,658
23
See accompanying notes to financial statements
ASSETS
Cash
Accounts receivable
Property and sales taxes receivable
Intergovernmental receivables
Interest receivable
Prepaid expense
Grant receivable
LIABILITIES
Accounts payable
Accrued payroll
Accrued compensated absences
Interest Payable
Due to other funds
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues -taxes
Unavailable revenues -prepaid
FUND BALANCES
Committed
Unassigned
CITY OF CHUBBUCK, IDAHO
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
General
Fund
$ 4,286,527
19,576
633,216
81, 602
13, 003
78, 302
Highway,
Streets,
and Roads
Fund
$ 1,193,267
3,707
24,989
203,651
Other
Governmental
Funds
$ 1,566,814
Total
$ 7,046,608
23,283
658,205
285,253
13, 003
78, 302
$ 5,112,226 $ 1,425,614 $ 1,566,814 $ 8,104,654
$ 555,536
232,136
78,213
865,885
$ 122,245
31, 248
14,673
3,605
3,605,376
3.777.147
128,582 20,932 -
1,205,027 - -
1,333,609 20,932 -
- - 1,566,814
2,912,732 (2,372,465) -
2,912,732 (2,372,465) 1,566,814
$ 5,112,226 $ 1,425,614 $ 1,566,814
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 $8,759,641.
Unavailable revenue represents amounts that were not available to fund current
expenditures and therefore are not reported in the funds:
Property tax
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
Deferred inflows of resources related to pensions
Deferred inflows of resources related to certificates of participation
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.
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Accrued compensated absences
Net pension asset/(liability)
Net position of governmental funds
24
See accompanying notes to financial statements
$ 677,781
263,384
92,886
3,605
3,605,376
4,643,032
149,514
1,205,027
1, 354, 541
1,566,814
540,267
2,107,081
32,641,830
149,514
1,283,818
(2,897,985)
(1,696,227)
242,290
(371,544)
91.179
$ 31,549,956
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
REVENUES
Property taxes
Franchise fees
Intergovernmental income
Court Revenue
Parks revenue
Licenses, permits and fines
Grants
Fire protection and prevention
Leases and rents
Interest income
Donations
Charges for services
Other revenues
EXPENDITURES
General government
Law enforcement
Fire control
Planning and development
Highway, streets, and roads
Parks and recreation
Community services
Other purchased services
Capital outlays
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds from certificate of participation
Interest expense
NET CHANGE IN FUND BALANCES
BEGINNING FUND BALANCE
ENDING FUND BALANCE
General
Fund
H lu hway,
Streets, Other
and Roads Governmental
Fund Funds Total
$ 4,000,938 $ 894,6104,895,548
195,483 - - 1951483
11852)334 113891170 - 372417504
271335 - - 27,335
141275 - - 141275
2621953 - - 2621953
21334,053 - - 21334,053
51009 - - 51009
1161163 - - 1161163
891735 61799 11335 977869
41698 - 67800 11,498
21614 81493 - 111107
541793 131222 6521601 7201616
81960,383 213121294 660,736 1119331413
1, 072,664 - - 1, 072,664
375501335 - - 31 550, 335
117381732 - - 11738,732
3951491 - - 3951491
114371020 - 1,437,020
7221129 - - 7221129
91,539 - - 911539
41425 41425
11752,815 1,129, 307 - 218821122
91323,705 215661327 4,425 11,894,457
(363,322) (254,033) 656,311 38,956
911,372 838,302 - 1,749,674
911,372 8341697 - 11746,069
548,050 5801664 6561311 11
25
See accompanying notes to financial statements
785, 025
2,3641682 (21953,129) 910,503 3221
056
$ 21912,732 $ (21372,465) $ 11566,814 $ 21
107,081
(Continued)
CITY OF CHUBBUUK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
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
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
Capital asset purchases capitalized
Gain or (loss) from asset disposal
Depreciation expense
The net affect of sales transactions involving capital assets
Unavailable revenues are not recorded as current period receipts
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
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
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
Governmental funds report proceeds from certificate of participation as other financing
sources. However, in the Statement of Net Activities they are reported as lease expense net of
amortized deferred inflows:
Certificate of participation proceeds in excess of deferred inflows
Change in net position
See accompanying notes to financial statements
$ 1,785,025
2,253,204
21882,122
(80,771)
(11034,984)
4,019,571
(104,837)
(27,196)
479, 905
(1,543,949)
$ 4,6231
362
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2021
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2020
Internal Internal
Health Plan Service Service
Water Sewer Sanitation Trust CIAWWCA Total 2020 Funds 2021 Funds 2020
ASSETS
Current assets
Cash and cash equivalents $ 4,687,010 $ 8,177,158 $ 3,737,679 $ 757,528 $ - $ 17,359,375 $ 15,778,283 $ 346,128 $ 345,742
Accounts receivable 284,580 330,204 168,642 13,033 - 796,459 766,642 - -
Interest receivable - 3,605 - - - 3,605 3,737 - -
Prepaid expense 13,632 - - 34,196.00 - 47,828 - - -
4,985,222 8,510,967 3,906,321 804,757 - 18,207,267 16,548,662 346,128 345,742
Noncurrent assets
Restricted assets
Bond reserves 168,150 - - - - 168,150 167,200 - -
Utility deposits 401,531 2,950 600 - - 405,081 425,224 - -
Net pension asset 13,884 12,193 12,640 - - 38,717 - - -
Advance to joint venture - 228,000 - - - 228,000 16,558,880 - -
Investments 1,995,765 - - - - 1,995,765 2,033,194 - -
Capital assets 29,450,373 26,053,141 6,514,938 - - 62,018,452 54,698,239 261,085 261,085
Accumulated depreciation (4,074,350) (3,755,425) (2,158,173) - - (9,987,948) (11,876,476) (254,860) (253,574)
Due from other funds - 3,605,376 - - - 3,605,376 3,737,049 - -
27,955,353 26,146,235 4,370,005 - - 58,471,593 65,743,310 6,225 7,511
32,940,575 34,657,202 8,276,326 804,757 - 76,678,860 82,291,972 352,353 353,253
DEFERRED OUTFLOWS
Pension 195,486 171,683 177,967 - - 545,136 305,250 - -
LIABILITIES
Current Liabilities
Accounts payable 275,552 478,895 218,020 108 - 972,575 1,111,654 28,983 21,403
Payroll payable 41,136 35,946 38,257 - - 115,339 113,159 - -
Health Claims incurred but not reported - - - 83,590 - 83,590 - - -
Unearned contributions - - - 105,429 - 105,429 - - -
Accrued compensated absences 13,882 13,235 5,439 - - 32,556 28,275 - -
Current portion of bonds payable 147,355 - - - - 147,355 142,355 - -
Accrued bond interest 2,346 - - - - 2,346 2,683 - -
Current portion of long-term debt 21,506 852,545 92,767 - - 966,818 774,934 - -
Accrued note interest 530,531 - 1,890 - - 532,421 229,361 - -
Deposits 401,531 2,950 600 - - 405,081 425,224 - -
1,433,839 1,383,571 356,973 189,127 - 3,363,510 2,827,645 28,983 21,403
Noncurrent Liabilities
Revenue bonds payable,
net unamortized premium 634,422 - - - - 634,422 781,777 - -
Advance payable - - - - 228,000 228,000 16,558,880 - -
Notes payable 8,257,377 10,182,661 496,232 - - 18,936,270 19,660,675 - -
Compensated absences 55,527 52,942 21,756 - - 130,225 113,098 - -
Net pension liabilities - - - - - - 1,243,135 - -
8,947,326 10,235,603 517,988 - 228,000 19,928,917 38,357,565 - -
10,381,165 11,619,174 874,961 189,127 228,000 23,292,427 41,185,210 28,983 21,403
DEFERRED INFLOWS
Pension 441,273 387,543 401,729 - - 1,230,545 31,620 - -
Certificateofparticipation 1,859,364 1,866,434 1,576,571 - - 5,302,369 456,835 - -
NET POSITION
Net investment in capital assets 16,088,914 22,297,716 3,767,766 - (228,000) 41,926,396 16,356,428 6,225 7,511
Restricted for bond service 168,150 - - - - 168,150 167,200 - -
Unrestricted 4,197,195 (1,341,982) 1,833,266 615,630 - 5,304,109 24,399,929 317,145 324,339
$ 20,454,259 $ 20,955,734 $ 5,601,032 $ 615,630 $ (228,000) 47,398,655 $ 40,923,557 $ 323,370 $ 331,850
Adjustment to reflect the consolidation of internal
See accompanying notes to financial statements
81,080
$ 47,479,735
OPERATING REVENUES
Service revenue
Revenue used as security
for revenue bond:
Charges for services
OPERATING EXPENSES
Administration
Salaries and wages
Personnel benefits
Repairs and maintenance
Supplies and tools
Travel, meetings, and training
Fuels and lubricants
Telephone and communications
Utilities
Treatment- Pocatello
Lease Payment
Other purchased services
Professional services
Bad debt
Depreciation
OPERATING INCOME
NONOPERATING REVENUE (EXPENSE)
Interest income
Investment income
Note interest income
Bond interest expense
Note interest expense
Grant revenue
Certificate of participation
Gain (Loss) from asset disposal
Transfers in (out)
CAPITAL CONTRIBUTIONS
Developer contributions
CHANGES IN NET POSITION
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2020
Water Sewer
$ 2,385,505 $ 4,403,367
781,777 -
3,167,282 4,403,367
Health Plan
Sanitation Trust CIAWWCA
$ 2,044,405
2,044,405
$ 1,484,058
1,484,058
_ _ _ 52,741
729,550 662,841 673,899 -
143,263 110,565 185,270 945,813
547,863 114,683 546,229 -
109,431 92,134 161,335 -
6,589 6,696 4,780 -
9,587 8,579 8,384 -
200,848 33,329 3,022 -
- 1,430,738 - -
85,412 85,738 72,422 -
40,174 - 29,809 311,412
78,587 132,225 45,010 89,731
581 336 638 -
738,640 190,829 216,240 -
2,690,525 2,868,693 1,947,038 1,346,956
476,757 1,534,674 97,367 137,102
$ 54,900
Total
$10,372,235
2020
$ 8,231,548
- 781,777 924,132
54,900 11,154,012 9,155,680
Internal Internal
Service Service
Funds 2021 Funds 2020
$ 360,800
360,800
$ 78,709
78,709
- 52,741 - 69 285,277
- 2,066,290 2,142,501 - -
- 1,384,911 994,606 5,534 5,322
- 1,208,775 1,034,064 19,046 20,420
- 362,900 296,984 332,853 28,435
- 18,065 9,351 3,182 2,676
_ - - 1,236 30,219
- 26,550 17,220 - -
- 237,199 206,815 6,528 10,685
- 1,430,738 1,582,338 - -
- 243,572 - - -
- 381,395 66,743 - -
3,050 348,603 263,409 - -
- 1,555 7,201 - -
303,054 1,448,763 1,179,197 1,287 1,769
306,104 9,159,316 7,800,429 369,735 384,803
(251,204) 1,994,696 1,355,251 (8,935) (306,094)
6,498 9,744 5,297 - - 21,539 50,237 455 1,397
(966) - - - - (966) 51,834 - -
- 3,605 - - - 3,605 3,737 - -
(24,507) - - - - (24,507) (28,420) - -
(3,749) - (22,542) - - (26,291) (29,816) - -
_ _ _ - 228,000 228,000 228,000 - -
_ _ _ _ _ - (190,123) - -
(4,926) (4,926) (4,926) - 815,196 800,418 2,000 - -
(27,650) 8,423 (22,171) - 1,043,196 1,001,798 87,449 455 1,397
1,687,196 1,009,275 303,605 - - 3,000,076 2,557,144 - -
1,687,196 1,009,275 303,605 - - 3,000,076 2,557,144 - -
2,136,303 2,552,372 378,801 137,102 791,992 5,996,570 3,999,844 (8,480) (304,697)
BEGINNING NET POSITION -RESTATED 18,317,956 18,403,362 5,222,231 478,528 (1,019,992) 41,402,085 36,923,713 331,850 636,547
ENDING NET POSITION $ 20,454,259 $20,955,734 $ 5,601,032 $ 615,630 $ (228,000) $47,398,655 $ 40,923,557 $ 323,370 $ 331,850
Adjustment to reflect the consolidation of internal
service fund activities related to enterprise funds (23,323)
Change in net position of business -type activities $ 5,973,247
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2020
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 change in interfund loans
Proceeds from grants
Proceeds from deposits (payments)
Net cash (used) in noncapital financing activities
CASH FLOW FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Principal paid on capital debt
Interest paid on capital debt
Proceeds from debt
Proceeds from certificate of participation
Proceeds from asset disposals
Purchase of capital assets
Interest received
Net cash provided (used) in capital and related
financing activities
CASH FLOW FROM INVESTING ACTIVITIES
Cash paid for investments
Interest from investment
Net cash provided by 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:
Cash and cash equivalents
Cash and cash equivalents - Restricted
Health Plan
Water Sewer Sanitation Trust CIAWWCA Total
2020
Internal
Service
Funds Service
2021
Internal
Funds 2020
$ 3,181,701 4) 4,384,158 $ 2,030,856 $ 1,535,993 $ 54,900 $ 11,187,608 $ 9,191,144 $ 3611255 $ 807106
(11007,658) (11878,719) (111207046) (17435,185) (31050) (51444,658) (37180,553) (355,335) (358,664)
(11010,924) (878,750) (914,939) - - (278041613) (21893,006) (57534) (51322)
11163,119 17626,689 (41129) 1001808 517850 21938,337 37117,585 386 (2837880)
- 411,523 - - (279,850) 131,673 131,541 - -
_ 228,000 2287000 2281000 - -
(20,693) 200 350 - - (20,143) 361090 - -
(20,693) 4111723 350 - 51,850 3397530 3951631 - -
(103,700)
(1633101) (644,528) (89,294) - - (896,923) (11304,287) - -
(28,593) - (227564) - - (517157) (58,729) - 2221047 - - - - 2221047 5671120 - -
11699,167 177057628 114407739 - - 41845,534 2667712 - -
_ 21000 - -
(21473,515) (21071,639) (210087774) - - (615537928) (31114,265) - -
51532 131481 51297 - - 24,310 105,940 - -
(738,463) (997,058) (674,596) - - (21410,117) (31535,509) - -
(28,620) - -
377429 - - - - 371429 - - -
37,429 - - - - 371429 (28,620) - -
4417392 170411354 (678,375) 1001808 - 9051179 (50,913) 386 (283,880)
41815,299 711387754 474161654 606,720 - 1679771427 161421,620 345,742 629,622
$ 51256,691 $ 81180,108 $ 37738,279 $ 707,528 $ - $ 17,882,606 $ 16,370,707 $ 3467128 $ 345,742
$ 4,687,010 $ 8,177,158 $ 3,737,679 $ 757,528 $ - $ 17,359,375 $ 15,778,283
569,681 2,950 600 (50,000) - 523,231 592,424
$ 51256,691 $ 81180,108 $ 31738,279 $ 707,528 $ - $ 17,882,606 $ 16,370,707
29
See accompanying notes to financial statements
$ 346,128 $ 345,742
$ 3461128 $ 345,742
OPERATING INCOME
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation
Pension expense
Bad debt expense
Prepaid expense
(Increase) decrease in assets
Accounts receivable
Increase (decrease) in liabilities
Accounts payable
Payroll payable
Accrued compensated absences
Total adjustments
NET CASH PROVIDED BY OPERATING ACTIVITIES
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2020
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
704358
Water
$ 476,757
738,640
(130,010)
581
(13,633)
14,419
Sewer
$ 1,534,674
1907829
(119,024)
336
(19,209)
Sanitation
$ 97,367
216,240
(73,778)
638
(13, 549)
Health Plan
Trust CIAWWCA
$ 1371102 $ (251,204)
Total
1, 994, 696
2020
$ 1,355,251
Internal
Service
Funds Service
2021
Internal
Funds 2020
(3047697)
- 303,054 1,448,763 1,179,197 1,287 1,769
- - (3227812) 2091758 - -
11555 71201 - -
- (13,633) - - -
(3,058) (21,397) 357465 - -
84,465 25,403 (249,055) (33,236) - (172,423) 296,372 7,579 19,048
(724) (17198) 41102 - - 27180 277208 - -
(71376) 141878 13,906 - - 21,408 71133 - -
6861362 92,015 (101,496) (36,294) 3037054 943,641 177621334 87866 201817
$ 1,163,119 $ 1,626,689 $ (4,129) $ 100,808 1z
30
See accompanying notes to financial statements
51,850 $ 2,938,337 $ 3,117,585 $ 386 $ (283,880)
CITY OF CHUBBUton, IDAHO
STATEMENT OF NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2021
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2020
Assets
Cash
Liabilities
Accounts payable
Net Position
Held in trust
Recreation
Programs
Trust Fund
2021
$ 38,078
38,078
270
270
31
2020
$ 43, 242
43,242
$ 43,242
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, 2021
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2020
Recreation
Programs Trust
Fund 2021 2020
Additions
Boys registration $ 15, 917 $ 21,112
Girls registration 10,088 10,017
Tee/tiger registration 14,465 5,232
Boys sponsorship 2,250 1,750
Girls sponsorship 2,550 -
Other revenue 90 -
Tota! additions 45,360 38,111
Deductions
Boy's baseball 22,336 23,822
Girl's softball 11,884 9,588
Tee/tiger ball 7,781 4,704
Other expenses 8,793 2,612
Total deductions 50,794 40,726
Change in net position (5,434) (2,615)
Net position -beginning of the year 43,242 45,857
Net position -end of the year $ 37,808 $ 43,242
32
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 1 OF 15)
NOTE 1 - Summary %J Significant Accounting 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 91 with the exception of those
standards not required to be implemented.
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, 290 E. Linden Ave, Chubbuck,
Idaho 83202.
Blend Component Unit -Enterprise Fund
Chubbuck Impact Area Waste Water Collection Authority (CIAWWCA)
Eff
ective 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 (CIAWWCA) 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 two -member board governs the Chubbuck Impact Area Wastewater Collection Authority with 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 $228,000. During the year, the City of Chubbuck
retained all assets within the Authority.
Complete financial statements of the Authority can be obtained from the City Clerk, City of Chubbuck, 290 E. Linden 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 151
NOTE I= Summary of Significant Accounting 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
i % 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, sanitation, health plan trust, Chubbuck Impact Area Wastewater Collection Authority 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.
The City reports the following major proprietary
funds:
The Water Fund accounts for the operations involved in collecting and distributing culinary water to the citizens of Chubbuck.
The Sewer Fund accounts for operations involved with the collection and treatment of sewer water.
The Sanitation Fund accounts for the operations for solid waste removal and disposal.
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.
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 ACCOUnting 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 the
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.
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 interf
und activity has been eliminated from the government -wide financial statements.
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
nU t use the encumbrance method of accounting5
NOTE 1 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 4 OF 15)
Summary of Significant Accounting Policies (Continued)
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 ndependent 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 propert
y, 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.
Government -wide Statements
In the government -wide financial statements, the assets are accounted for as capital assets. All capital assets are valued at historical
costI 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
depreciatI
on 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
Other structures
20-30 years
Equipment
Vehicles
Fund Financial Statements
15-20 years
7-10 years
5-7 years
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.
KZy
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 5 OF 15)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
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.
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."
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.
�7
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 6 OF 15)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
L. Equity Classifications (continued)
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 - Legal Compliance -Budgets
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.
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
$ 168,150
405,081
$ 573,231
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 oris returned when the payer stops utility service. Restricted utility deposits totaled $405,081 at year-end.
m
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 7 OF 15)
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, $658,205 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, 2021.
NOTE 6 - Cash Cash Equivalents and Investments
Primary Government:
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Restricted
Unrestricted
Fiduciary Fund:
Cash
Deposits
Balance
$ 573,231
24,752,111
$ 25,325,342
Balance
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 $25,363,420 and the bank balance was
$20,989,171. 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 $3,613,989.
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
As of September 30, 2021, the City had the following investments:
Maturities
More Than
Fair value No Maturity.Years 10 Years Moody
Money Funds $ 11935 $ 11935 $ - $ - N/A
U.S. Government Bonds 11997,700 - 11997,700 - Aaa /AA+
Total Investments $ 11999,635 $ 11935 $ 11997,700 $ -
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 -carry
ing amount
Unrestricted
39
$ 3,093,753
NOTE 6 -
NOTE 7 -
NOTE 8 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 8 OF 15)
Cash and Cash Equivalents and Investments (Continued)
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 $3,093,753.
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 fully
insured or collateralized.
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)
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.
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:
CIAWWC
Water Sewer Sanitation Authority
$ 3021660 $ 342,620 $ 174,560 $ -
Accounts Receivables
Allowance for Doubtful Accounts
Concentration of Credit Risk
Total
$ 819,840
(18,080) (12,416) (51918) - (36,414)
$ 284,580 $ 330,204 $ 1681642 783,426
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 counterpart
y 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 LGID
, 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.
C�;
NOTE 9 -
NOTE 10 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 9 OF 15)
Chances 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
Balance
Ending
Additions Deletions Balance
$ 2,137,999 $ 505,093 $ - $ 2,643,092
51664,961 770,989 6761955 51758,995
18,5111282 11215,654 - 19,726,936
41822,142 311610108 98,554 71884,696
51228,317 159,435 - 51387,752
36,364,701 51812,279 775,509 41,401,471
71742,441 11034,983 17,783 8,759,641
$ 28,622,260 $ 41777,296 $ 757,726 $ 32,641,830
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
Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Beginning Ending
Balance Additions Deletions Balance
$ 2,225,023 $ 321,020 $ 386,226.00 $ 2,159,817
21421,167 - - 2,421,167
31295,176 712,758 21306,076 11701,858
39,246,159 26,623,411 181201,676 47,667,894
71771,799 557,002 - 81328,801
54,9591324 28,214,191 20,893,978 62,279,537
12,130,050 11146,995 31034,237 1012421808
$ 42,829,274 $ 27,067,196 $ 17,859,741 $ 52,036,729
Governmental Business -type
$ 92,886 $ 32,556
371,544 130,225
$ 464,430 $ 162,781
Long-term Debt:
The City's long-term debt is segregated between the an to be repaid from governmental activities and amounts to be repaid from
business -type activities.
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 port
ion
Noncurrent portion
41
$ 21,506
80, 864
$ 102,370
NOTE 10 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 10 OF 15)
Long-term Debt and Accrued Compensation (Continued)
The City was authorized 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.
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.
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.
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.
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.
Less current portion
Noncurrent portion
Outstanding
$ 104,589
5,733,006
5,106,170
91,441
$ 11,035,206
852,545
$ 10,182,661
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 was not closed at
the end of fiscal year 2021.
Available Principal
$ 323487 $ 8176513
, , ,
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 port
ion
Noncurrent portion
Net Premium Principal Total
$ 36,777 $ 745,000 $ 781,777
36,777 745,000 781,777
7,355 140,000 147,355
$ 29.422 $ 605.000 $ 634,422
Bond premiums, net amortization totaled $36,777. 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.
Notes Payable
On June 4, 2008, the City issued a note to purchase assets needed in order to collect sanitation for the City. The note was issued at
5.25%. The note was refinanced in 2009. The note was issued for $1,375,000 with a monthly payment of $9,321 until the maturity
date of May 5, 2029,
Note Payable: $ 588,999
Less current portion 92,767
Noncurrent portion $ 496,232
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
Highway, Streets, and Roads
Sewer Enterprise Fund
42
Due to Due to
$ 3,605,376 $ -
- 3,605,376
$ 3,605,376 $ 3,605,376
NOTE 10 -
NOTE 11 -
NOTE 12 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 11 OF 15)
Long-term Debt and Accrued Compensation (Continued)
Annual Debt Service Requirements for leases, bonds and notes payable
Year Ending
September 30
2022
2023
2024
2025
2026
2027-2031
2032-2035
Changes in long-term liabilities
Long-term liability activity for the year was as follows:
Governmental activities
Compensated absences
Business -type activities
Bonds payable
880000 $ 135000 745,000 140,000
Notes payable
Compensated absences
Conduit Debt Obligations
Beginning
Balance
Governmental Activities Business -type Activities
Principal Interest Principal Interest
$ - $ - $ 11837,191 $ 50,013
11852,153 41,796
1,857,325 331288
11881,004 23,185
11855,490 12,732
71195,075 11382
4,169,542-
20,647,780 $ 162,396
Ending Due within
Additions Reductions Balance one year
$ 429,306 $ 551,548 $ 516,424 $ 464,430 $ 92,886
$ 429,306 $ 551,548 $ 516,424 $ 464,430 $ 92,886
Long-term portion $ 371,544
Beginning Ending Due within
Balance Additions Reductions Balance one year
20,435,609 222,047 754,568 19,903,088 966,818
141,373 1971245 175,837 162,781 32,556
$ 21,456,982 $ 4197292 $ 11065,405 $ 20,810,869 $ 11139,374
Long-term portion $ 19,671,495
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
party 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.
Interfund Transfer
Fund
Guarantee Parks Fund
Park Impact Fees Fund
The purpose of the transfer was as follows:
Transfers In Transfers Out
39,872 -
$ 39,872 $ 39,872
A deposit of $39,872 was incorrectly receipted into Guarantee Parks Fund. It should have been receipted in Park Impact Fees
Fund.
43
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 12 OF 15)
NOTE 13 - Transfer of Operations
The City is a separate legal entity from the CIAWWCA and presents the CIAWWCA in the City's fiscal year-end financial statements
as a blended component unit -enterprise fund.
On March 4, 2021, the City took possession of the assets of land, bungs, and improvements from the CIAWWCA. This transfer
does not conclude the City will automatically take possession of future asset acquisitions of the CIAWWCA. The assets transferred to
the City represent a possession managed for the purpose of providing wastewater transmission and disposal services, thus meeting
the definition of an operation. The service continuation is presumed because the assets used by the CIAWWCA will be used in the
same manner by the City to provide the same service.
The City recognizes the assets related to the wastewater transmission and disposal service operations as of March 4, 2021. The
assets were capitalized at fair market value of $321,021 for land and $15,730,009 for buildings and improvements with annual
depreciation of $524,334. The City recognizes a satisfaction of a receivable of $16,051,030 from the CIAWWCA with a remaining
balance of $228,000.
NOTE 14- Stewardship Compliance and Accountability
A. Deficit Fund Balance
At September 30, 2021, the City had a deficit fund balance in the amount of $2,372,465 in the Highway, Streets, and Roads fund. The
future revenues and reduction of an interfund loan will decrease the deficit fund balance.
NOTE 15- Pension Plan
Plan Description:
The City contributes to the Base Plan which is acost-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 74% for police and
firefighters. As of June 30, 2020 it was 7.16% for general employees and 9.13% 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 $732,850 for the year ended September 30, 2021.
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 13 OF 15)
NOTE 15 - Pension Plan (Continued)
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions.
At September 30,2021, the City reported a liability for its proportionate share of the net pension liability. The net pension liability was
measured as of June 30, 2021, 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, 2021, the City's
proportion was .16446931 percent.
For the year ended September 30, 2021, the City recognized pension expense (revenue) of $(67,136). At September 30, 2021, the
City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Differences between expected and actual experience
91,382
Changes in assumptions or other inputs
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
City contributions subsequent to the measurement date
Deferred
Outflows of
Resources
1,491,021
Deferred
Inflows of
Resources
$ 1 $ 751
504
4,079,885
(26,860) (26,859)
173,411 -
$ 11828,954 $ 4,128,530
$173,411 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, 2021.
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, 2021 the beginning of the measurement period ended June 30, 2020 is 4.7 and 4.6 for the
measurement period June 30, 2021.
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, 2021:
2022
2023
2024
2025
Actuarial Assumptions:
$ (581,729)
(524,257)
(458,141)
(908,859)
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, 2021 actuarial valuation was determined using the following actuarial assumptions, applied to
all periods included in the measurement:
Inflation 2.30%
Salary increases 3.05%
Salary inflation
Investment rate of return 6.35%, net of investment expenses
Cost -of -living adjustments 1%
45
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 14 OF 15)
NOTE 15 - Pension Plan (Continued)
Actuarial Assumptions: (continued)
Contributing Members Service Retirement Members and Beneficiaries
General Employees and All Beneficiaries - Males Pub -2010 General Tables, increased 11 %
General Employees and All Beneficiaries - Females Pub -2010 General Tables, increased 21 %
Teachers - Males Pub -2010 Teacher Tables, increased 12%
Teachers - Females Pub -2010 Teacher Tables, increased 21 %
Fire & Police - Males Pub -2010 Safety Tables, increased 21 %.
Fire & Police - Females Pub -2010 Safety Tables, increased 26%.
Disabled Members - Males Pub -2010 Disabled Tables, increased 38%
Disabled Members - Females Pub -2010 Disabled Tables, increased 36%
An experience study was performed for the period July 1, 2015 through June 30, 2020, which reviewed all economic and demographic
assumptions including mortality. The Total Pension Liability as of June 30, 2021, is based on the results of an actuarial valuation date
July 1,2021.
The long-term expected rate of return on pension plan investments was determined using the building block approach and aforward-
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 volaty and correlation. The capital market assumptions are as of 2021.
Long -Term
Expected Long -Term
Target Nominal Rate Expected Real
Asset Class Allocation of Return Rate of Return
Core Fixed Income 30.00% 1.80% -0.20%
Broad US Equities 55.00% 8.00% 6.00%
Developed Foreign Equities 15.00% 8.25% 6.25%
Assumed Inflation - Mean 2.00% 2.00%
Assumed Inflation - Standard Deviation 1.50% 1.50%
Portfolio Arithmetic Mean Return 6.18% 4.18%
Portfolio Standard Deviation 12.29% 12.29%
Portfolio Long -Term (Geometric) Expected Real Rate of Return 5.55% 3.46%
Assumed Investment Expenses 0.40% 0.40%
Portfolio Long -Term (Geometric) Expected Real Rate of Return,
Net of Investment Expenses 5.15% 3.06%
Portfolio Long -Term Expected Real Rate of Return, Net of Investment Expenses 4.14%
Portfolio Standard Deviation 14.16%
Valuation Assumptions Chosen by PERSI Board
Long -Term Expected Real Rate of Return, Net of Investment Expenses 4.05%
Assumed Inflation 2.300/
Long -Term Expected Geometric Rate of Return, Net of Investment Expenses 6.35%
C[:1
NOTE 15 -
NOTE 16 -
NOTE 17 -
NOTE 18 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 15 OF 151
Pension Plan (Continued)
Discount Rate:
The discount rate used to measure the total pension liability was 6.35%. 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.
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 6.35
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 (5.35 percent) or 1 -percentage -point higher (7.35 percent) than the current rate:
Employer's proportionate share of the net pension liability (asset)
Current
1 % Decrease Discount Rate 1 % Increase
(5.35%) (6.35%) (7.35%)
41515,408 (129,895) $ (31937,742)
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.persiJdaho.gov.
Payables to the pension plan:
At September 30, 2021, the City reported payables to the defined benefit pension plan of $0 for legally required employer contributions
and $0 for legally required employee contributions which had been withheld from employee wages but not yet remitted to PERSI.
Risk Management
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 attachment point of $670,973 for 2021. 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 $83,590 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.
Subsequent Events
Subsequent events were evaluated up to March 28, 2022, the date the financial statements were available to be issued.
Prior Period Adjustments
Through September 30, 2020, the City reported the Chubbuck Health Plan Trust as a Fiduciary fund. During the fiscal year ending
September 30, 2021, the City determined the appropriate presentation for this entity, a Public Entity Risk Pool, is as an enterprise fund.
Therefore, the beginning net position of Business -Type activities and Fiduciary Funds have been restated. Net position as of
September 30, 2020 has been adjusted as follows:
Net Position, Beginning of Year, as previously restated
Re -presentation of Chubbuck Health Plan Trust as an Enterprise Fund
Net Position, Beginning of Year, as restated
47
Business Type
Activities Fiduciary Funds
$ 40,923,557 $ 521,770
478,528 (478,528)
41,402,085 43,242
REQUIRED SUPPLEMENTARY INFORMATION
,;
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
GENERALFUND
YEAR ENDED SEPTEMBER 30, 2021
Resources
Property taxes
Franchise fees
Intergovernmental income
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
Planning and development
Parks and recreation
Community services
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
Original
$ 4,136,112
208,000
1,232,000
151000
100,000
1,645,447
50,000
751000
59,299
7,520,858
625,604
3,951,099
1, 825,245
370,110
771000
71,800
7,520,858
0
Final
$ 4,136,112
208,000
1,232, 000
15,000
1001000
1,645,447
50,000
75,000
59,299
7, 520, 858
625,604
3,951,099
1, 825,245
370,110
677,000
71,800
7,520,858
Actual
Amounts
$ 4, 000, 938
195,483
18521334
14,275
290,288
2,334,053
5,009
116,163
89,735
4,698
2,614
54,793
79601383
1, 072,664
3,550,335
1,738,732
395,491
722,129
91,539
17521815
9,323,705
(363, 322)
911,372
911,372
5481050
2,364,682
$ 21
912,732
Variance
Positive
(Negative)
$ (1351174)
(12,517)
620,334
(725)
190,288
688,606
(44, 991)
41,163
30,436
4,698
2,614
54,793
1,439,525
(447,060)
400,764
86,513
(25, 381)
(45,129)
(19,739)
(1,752,815)
(1,8021847)
(363,322)
911,372
911,372
548,050
2,364,682
$ 2,9121
732
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
HIGHWAY, STREETS AND ROADS
YEAR ENDED SEPTEMBER 30, 2021
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
Actual
Amounts
Variance
Positive
(Negative)
$ 950,000 $ 950,000 $ 8941610 $ (551390)
7251000 725,000 11389,170 6641170
125,000
125 000)
77,000
1,877,000
697, 500
7,500
9,250
5,000
12,500
143,250
658,500
158,000
160,500
25,000
1,877,000
50
125,000
77,000
1,877,000
697,500
7,500
9,250
5,000
12,500
143,250
658,500
158,000
160,500
25,000
1,877,000
28,514
2,312,294
755,382
7,173
14,789
9,789
47,788
5,458
478,733
71907
1,129,307
2,566,327
(254,033)
- 838,302
834,697
580,664
(2,953,129)
$(213721
465)
(,
(48,486)
435,294
(57,882)
327
(5,539)
(4,789)
(35,288)
137,792
179,767
40,093
(968, 807)
25,000
(689,327)
(254,033)
838,302
(3,605)
834,697
580,664
(2, 953,129)
$(213721
465)
Schedule of Employer's Share of Net Pension Liability
PERSI - Base Plan
Last 10 - Fiscal Years*
2021 2020
Employer's portion of the net pension liability (asset) 0.001644693 0.001641301
Employer's proportionate share of the net pension liability
(asset) $ (129,895) $ 3,811,318
Employer's covered -employee payroll $ 6,112,874 $ 5,820,108
Employer's proportional share of the net pension liability as a
percentage of its covered -employee payroll -2.12% 65.49%
2019
0.001625296
$ 1,855230
,
$ 5,496,835
33.75%
2018
0.001606905
$ 2,370,213
$ 5,142,733
46.09%
2017 2016
0.001542148 0.00145924
$ 2,423,992
$ 4,764,551
50.88%
$ 2, 958,104
$ 4, 225,127
70.01
2015
0.001459012
$ 1,921,281
$ 4,072,262
47.18%
Plan fiduciary net position as a percentage of the total pension
liability 100.36% 88.22% 93.79% 91.69% 90.68% 87.2670 91.38%
* 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, 2021
51
Schedule of Employer Contributions
PERSI — Base Plan
Last 10 — Fiscal Years
2021
Statutorily required contribution $ 741,954
Contributions in relation to the statutorily required contribution $ 741,954
Contribution (deficiency) excess $ -
Employer's covered -employee payroll $ 6,154,443
Contributions as a percentage of covered -employee payroll 12.06%
tziy�i7
$ 709,029
$
7091029
$ 610097444
11.80%
2019
$ 643,275
$ 643,275
$ 5,5971869
11.49%
2018
$ 594,166
$ 594,166
$ 5,3187395
11.17%
2017
$ 545, 551
$ 545,551
$ 4,5681504
11.94%
2016
$ 031931
$
031931
$ 4,536,572
11.11%
2015
$ 1058
$ 469,058
$4,
225,217
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, 2021.
52
CITY OF CHUBBUUK, 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 $363,322 in the general government due to an increase
of general expenditures for the expansion and remodel of office space. The City received $911,372 in
proceeds from Certificates of Participation and used available fund balances to cover the expenditures
over budget.
Highway Streets, and Roads
The City had expenditures in excess of budget of $254,033 due to an increase of expenditures related to
and capital outlays. The City received $838,302 in proceeds from Certificates of Participation to cover the
expenditures over budget.
53
OTHER SUPPLEMENTARY INFORMATION
54
Cash
ASSETS
FUND BALANCES
Committed, reported in:
Special revenue fund
CITY OF CHUBBUCK, IDAHO
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
Law
Fire Control Enforcement Park
Impact Fees Impact Fees Impact Fees
Special Revenue
Street Juvenile Road Total
Guarantee
Fund
Referral Court
Fund Fund
Projects
Fund
Parks
Nonmajor
Fund
Funds
$ 100,034 $ 871385 $ 274,710 $ 404,254 $ 5,106 $ 149,525 $ 169,340 $ 376,460 $ 1,566,814
$ 100,034 $ 87,385 $ 274,710 $ 404,254 $ 5,106 $ 149,525 $ 169,340 $ 376,460 $ 1,566,814
55
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
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 $ 80 $ 70 $ 121 $ 186 $ 6 $ 143 $ 215 $ 514 $ 11335
Donations - - - - - - - 67800 61800
Other revenues 521388 447047 2201857 2767686 - 501781 - 77842 6527601
521468 447117 2203978 2767872 6 50,924 215 151156 6607736
EXPENDITURES
Other purchased services - - - - - 425 - 41000 47425
425 - 47000 47425
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES 521468 441117 2207978 276,872 6 50,499 215 11,156 656,311
OTHER FINANCING SOURCES
Transfers in (out) - - 39,872 - - - - (39,872) -
NET CHANGE IN FUND BALANCES 52,468 447117 2607850 2761872 6 507499 215 (28,716) 656,311
BEGINNING FUND BALANCE 47,566 431268 137860 1271382 51100 997026 1697125 4057176 9107503
ENDING FUND BALANCE $ 100,034 $ 87,385 It
274,710 $ 404,254 $ 5,106 $ 149,525 $ 169,340 $ 376,460 $ 1,566,814
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2021
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2020
ASSETS
Current assets
Cash and cash equivalents
Noncurrent assets
Restricted assets
Capital assets
Accumulated depreciation
LIABILITIES
Current Liabilities
Accounts payable
Noncurrent Liabilities
NET POSITION
Net investment in capital assets
Unrestricted
Employee
Central Health
it
Garage Benef
Fund Fund
346,128
261,085 -
(254, 860) -
61225 -
2021
Totals
$ 346,128
346,128
261, 085
(254, 860)
6,225
2020
Totals
$ 345, 742
345,742
261,085
(253, 574)
7,511
6,225 346,128 352,353 353,253
28,983
28,983
28,983
28, 983
28,983
28,983
28,983 - 28,983
6,225 -
(28,983) 346,128
$ 28 983
(22, 758) $ 3467128
6,225
317,145
$
3231370
,
7,511
324, 339
$ 3311850
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2020
OPERATING REVENUES
Interest earnings
Service revenue
OPERATING EXPENSES
Administration
Personnel benefits
Repairs and maintenance
Supplies and tools
Travel, meetings, and training
Fuels and lubricants
Utilities
Depreciation
OPERATING INCOME (LOSS)
CHANGES IN NET POSITION
BEGINNING NET POSITION
ENDING NET POSITION
Central
Garage
Fund
360, 800
360, 800
5,534
19, 046
21853
3,182
1,236
67528
1,287
369, 666
Employee
Health
Benefit
Fund
$ 455
455
2021
2020
Totals Totals
$ 455
3607800
361,255
19, 046
332, 853
3,182
1,236
6, 528
69
17287
78,709
80,106
285, 277
5, 322
20,420
28,435
2, 676
30,219
10, 685
1,769
3841803
(8, 866) 386 (8,480) (304, 697)
(8,866) 386 (8,480) (304,697)
$ (22,758)
345, 742 331, 850 636, 547
$ 346,128
$ 323, 370
$ 331, 850
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2021
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2020
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:
Cash and cash equivalents
Cash and cash equivalents - Restricted
OPERATING INCOME (LOSS)
Central
Garage
Fund
$ 360,800
(355,266)
(5,534)
Employee
Health
Benefit'
Fund
$ 455
(69)
386
2021
$ 361,255
(355, 335)
(5,534)
386
386
2020
$ 80,106
(358,664)
(5,322)
(283,880)
386 (283,880)
345,742 345,742 629,622
$ 346,128
$ 346,128
SH
RECONCILIATIONS OF NET INCOME TO NET CA
PROVIDED BY OPERATING ACTIVITIES
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
59
Central
Garage
Fund
(8,866)
$
1,286
7,580
8,866
Employe
e
Health
Benefit
Fund
$
$ 346,128 346,128
$ 346,128
$ 346,128
$
345,742
$ 629,622
$ 629,622
2021 2020
1,287
7,579
8,866
$ (304,697)
1,769
19,048
20,817
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Resources
Property taxes
Interest income
Donations
Other resources
Amounts available for appropriations
Charges to appropriations
Street guarantee fund
Juvenile referral fund
Court fund
Road projects fund
Parks fund
Total charges to appropriations
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Budgeted Amounts
Original
Final
Actual
Amounts
1,335
6,800
652,601
660,736
425
4, 000
4,425
656, 311
$ 1, 566, 814
Variance
Positive
(Negative)
1,335
6,800
652,601
660,736
(425)
(4,425)
656, 311
910,503
$ 1, 566, 814
STATISTICAL SECTION
m
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.
C��
Governmental activities:
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total governmental activities net position
Business -type activities
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total business -type activities net position
Primary government
Net investment in capital assets
Restricted
Unrestricted
Total primary government net position
2012
$ 7,706,251 $
2,896,706
$ 101602,957 $
$ 4,402,647 $
169,081
11,985,356
$ 16,557,084 $
2013
2014
City of Chubbuck
Net Position By Components
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2015
10,153,123 $ 11,396,599 $ 10,137,975 $
3,592,593 41130,936 4,532,072
13,745,716 $ 15,527,535 $ 14,670,047 $
5,460,743 $ 6,091,493 $ 6,086,514 $
65,781 167,481 165,181
14, 0
06160S 16,145t285 18,4601974
19,633,129 $ 22,404,259 $ 24,712,669 $
2016 2017 2018 2019 2020 2021
11,138,839 $ 16,829,117 $ 24,019,218 $ 26,473,293 $ 281622,260 $ 321641,830
6,181,447 3,2121484 5471753 (381,048) (11695,666) (1,0911874)
17,320,286 $ 20,0411601 $ 24,566,971 $ 26,092,245 $ 26,926,594 $ 31,549,956
6,814,991 $ 91217,942 $ 11,612,979 $ 11,876,681 $ 16,363,939 $ 41,9321621
166, 731 168,131 1154,850 166,100 167,200 168,150
21,272,113 22,0011056 21,704,355 25,076,744 24,496,821 5,378,964
28,253,835 $ 31,3871129 $ 33,4821184 $ 371119,525 $ 41,027,960 $ 47,479,735
$ 12,108,898 $ 15,613,866 $ 17,488,092 $ 16,224,489 $ 17,9531830 $ 26,047,059 $ 35,632,197 $ 381349,974 $ 441986,199 $ 74,574,451
169,081 165,781 167,481 165,181 166,731 168,131 1154,850 166,100 167,200 168,150
14,882,062 17,599,198 20,2761221 22,993,046 27,453,560 251213,540 22,252,108 24,695,696 22,801,155 41287,090
$ 27,160,041 $ 331378,845 $ 371931,794 $ 391382,716 $ 45,5741121 $ 51,428,730 $ 581049,155 $ 63,211,770 $ 67,954,554 $ 791029,691
City of Chun DUCK
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2012 2013 2014 2015 2016 2017 2018 2019
Expenses
Governmental activities:
General Government $ 235,127 $ 352,910 $ 443,813 $ 5420494 $ 896,297 $ 8801217 $ 862,299 $ 8361698
Law enforcement 21576,916 21782,655 21771,003 218681345 31188,507 31310,717 31447,266 31492,557
Fire Control 11307,735 11313,575 11335,240 11519,108 11360,246 11307,106 11417,951 11556,572
Building Inspection 158,409 1631631 172,439 172,946 1991277 199,336 217,171 246,220
Street 11087,455 11122,746 11450,965 11524,819 11487,702 11426,385 11293,629 11210,550
Parks & Recreation 534,574 494,692 484,041 5291372 591,638 601,054 6531878 623,328
Health and welfare 31,462 39,552 51,165 411171 76,884 831293 901621 801049
Otherspecialfunds 171113 51150 350 - 20,196 150 11600 17,100
CIAWWCAuthority - 41574 2,930 2,930 609,036 609,036 - -
Total governmental activities expenses 5,9481791 612791485 61711,946 7,201,185 81429,783 81417,294 71984,416 810631075
Business -type activities:
Water 11398,887 11466,297 11560,406 11781,501 11793,535 11726,443 21111,162 21028,807
Sewer 11847,034 21072,020 11709,310 21200,476 21319,135 21363,009 21649,245 21705,251
Sanitation 11132,300 11116,071 11219,283 1,0601218 11221,934 11637,470 11732,030 11626,740
Health Plan Trust - - - - -
CIAWWCAuthority - - - - - - 6091036 6091036
Total business -type activities program expenses 413781221 41654,388 41488,999 5,0421195 51334,604 51726,922 71101,473 61969,834
Total primary government program expenses 101327,012 10,933,873 11,200,945 12,243,380 131764,387 1411441216 1510851889 151032,909
2020
1,537,463
3,896,661
1,939,749
28,004
2,042,497
636,713
88,129
43,181
2021
1,348,508
3,288,219
1,802,233
371,732
1,764,251
802,354
91,539
4,425
10,212,397 9,473,261
2,440,008
3,174,444
1,916,682
609,063
2,742,104
2,868,693
1,969,580
1,346,956
306,104
8,140,197 9,233,437
18, 352,594 181706J698
Program Revenues
Governmental activities:
Chargesforservices:
General Government
Law enforcement
Fire control
Street
Parks & Recreation
CIAWWC Authority
Operating grants and contributions
Capital grants and contributions
Total governmental activities program revenues
Business -type activities:
Charges for services:
Water
Sewer
Sanitation
Health Plan Trust
CIAWWC Authority
Operating grants and contributions
Capital grants and contributions
Total business -type activities program revenues
Total primary government program revenues
Net (Expense) / R ev e n u e
Governmental activities
Business -type activities
Total primary governmental net (expense)/revenue
2012 2013
City of Chuhhuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2014 2015
2016 2017
2018 2019
2020
2021
1331808 2031578 134,555 298,505 3651049 414,674 323,186 3991415 342,244 3791116
35,311 28,918 31,942 291940 34,221 281081 27,335
2101650 191,317 232,992 197,261 2111041 214,172 237,675 1761925 61,832 51009
131165 17,468 11292 81493
61534 41955 7,203 91762 101589 121728 1491681 14,758 61125 16,889
101980
431612 1281818 33,200 48,000 431890 71,329 84,653 1791095 652,897 213451551
9161767 216671268 2,3541109 31644,635 11019,354 11253,033 21253,204
394,604 5281668 407,950 11505,606 31326,755 311091934 41482,935 11841,236 213451504 51035,597
2,386,464 21582,932 21422,542 21680,920 2,7831945 21728,684 21896,320 2,983,977 21944,986 31167,282
3,2281353 31182,335 310931116 315831861 31657,738 3,803,714 31979,134 41229,957 41163,168 41403,367
1,6251302 11649,604 1,727,680 11731,740 2,169,627 2,1921420 11978,239 11930,472 11952,196 21044,405
11484,058
_ - 66,915 21,960 95,330 54,900
11,328 - 134,662 93,730 - - -
_ 2281000 11045,754 21785,144 31228,076
7,2401119 7,414,871 712431338 81007,849 81611,310 81859,480 91242,338 101212,120 11,940,824 141382,088
7,634,723 719431539 71651,288 91513,455 11,938,065 1119691414 13,725,273 12,053,356 14,286,328 19,417,685
(5,554,187) (51750,817) (61303,996) (51695,579) (51103,028) (51307,360) (31501,480) (61221,839) (71866,893) (41437,664)
2,8611898 21760,483 21754,339 21965,654 312761706 31132,558 21140,865 312421286 318001627 51148,651
(2,692,289) (21990,334) (31549,657) (21729,925) (11826,322) (21174,802) (1,360,615) (21979,553) (41066,266) 7101987
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
Otherrevenue
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
2012
4,594,553
201,128
908,227
52,546
36,797
17,223
2,683,248
18,486
8,512,208
32,121
1,125,220
10,800
1,168,141
9,680,349
2013
4,982,426
192,151
955,679
90,843
60,367
34,788
2,254,771
89,066
228,000
644
261,081
2,400
264,125
9,152,216
2,958,021 3,137,274
4,030,039 3,024,608
$ 61988,060 $ 61161,882
2014
5,292,450
203,790
903,149
66,152
1651
11,154
1,286,887
14,366
(3,000)
228,000
8,063,599
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2015
2016
2017
5,296,480
513661613
516421004
51975,483
198,493
1991194
201,328
2031950
1,021,666
1,311,704
11323,581
11373,948
182,445
1601617
97,869
78
76,828
90,432
981064
157,760
1861953
36,711
735,459
18,038
19,282
-
54,759
8,701,242
9,061,026
1061283
1051808
41,828
7661042
763,697
199,888
534,080
-
-
6401363
6,653,333
7,753,267
574 - -
13,217 - -
- 2,530 86,100
31000 100 -
161791 21630 86,100
8,0801390 61655,963 718391367
1,759,603
2,771,130
$ 4,530,733
8,028,674
736
736
8,029,410
957,754 2,650,239 2,721,314
2,968,284 3,362,806 3,133,294
$ 31926,038 $ 61013,045 $ 51854,608
7,965,788
4,000
11,252
15,252
7,981,040
4,464,308
2,156,117
$ 61620,425
2019
2020
2021
61499,369
711231630
41790,711
189,494
1861818
1951483
1,403, 606
11187,121
31241,504
182,445
1601617
97,869
78
6,345
-
1861953
36,711
735,459
(534,080)
-
-
719271865
8,701,242
9,061,026
1061283
1051808
24,178
-
21000
800,418
534,080
-
-
6401363
107,808
824,596
815681228
818091050
91885,622
11706,026
834,349
41623,362
3,8821649
319081435
519731247
$ 51588,675 $
41742,784 $
10,5961609
General fund
Unassigned
Total General Fund
All Other Governmental Funds
Committed
Unassigned:
Special revenue funds
Total all other governmental funds
2012
2013
City of ChubDUCK
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
2014
2015
2016
$ 21348,830 $ 2,708,737 $ 2,933,821 $ 2,952,093 $ 3,410,321
21348,830 21708,737 21933,821 21952,093 31410,321
632,837
$ 632,837
490,894 511,696 554,175 565,911
2017
2018
2019
2020
2021
$ 3,939,114 $ 1,239,050 $ 107,771 $ (589,351) $ 540,267
31939,114 112391050 1071771 (589,351) 5401267
WWW
453,040 516,555 658,913 910,503 1,566,814
$ 4901894 $ 511,696 $ 554,175 $ 565,911 $ 453,040 $ 516,555 $ 658,913 $ 910,503 $ 11566,814
67
Revenues•
Property taxes and sales tax
Franchise fees
Intergovernmental
Court Revenue
Parks revenue
License, permits and fines
Grants
Fire protection and prevention
Leases and rents
Interest income
Donations
Charges for services
Otherrevenues
Total Revenues
2012
$ 4,567,959
201,128
908,227
2,399
133,808
27,892
210,650
52,546
36,797
15,720
4,135
18,486
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fisca I Years
(Modified Accrual -Basis of Accounting)
2013
$ 4,984,949
192,151
955,679
1,720
203,578
302,500
191,317
90,843
60,367
54,318
3,235
89,066
6,1791747 7,1291723
2014 2015 2016 2017 2018 2019
$ 5,295,493
203,790
903,149
2,668
134,555
14,800
232,992
66,152
60,651
18,400
4,535
14,366
6,951,551
$ 5,349,772
198,493
1,021,666
35,311
5,402
219,868
466,000
197,261
78,637
76,828
38,000
4,360
41,827
7,733,425
$ 5,375,566
199,194
1,311,704
28,918
7,629
289,199
248,290
211,041
75,850
90,432
23,600
2,960
19,063
7,883,446
$ 5,627,360
201,328
1,323,581
31,942
10,733
320,860
336,433
214,172
93,814
98,064
40,149
12,975
65,897
$ 5,930,753
203,950
1,373,948
29,940
7,729
231,180
43,629
237,675
92,006
157,760
41,024
155,117
86,449
8,377,308 8,591,160
$ 6,405,974
189,494
1,403,606
34,221
8,670
308,615
109,076
176,925
90,800
182,445
70,019
23,556
184,022
9,187,423
2020
7,131,017
186,818
1,187,121
28,081
2,409
220,174
585,950
61,832
122,070
160,617
66,947
5,008
249,999
10,008,043
2021
$ 4,895,548
195,483
3,241,504
27,335
14,275
262,953
2,334,053
5,009
116,163
97,869
11,498
11,107
720,616
11,933,413
Expenditures-
General government
Law enforcement
Fire control
Building inspection
Street
Parks and recreation
Health and welfare
Street guarantee fund
Courtfund
Parks fund
Capital outlays
CIAWWC Authority
Total Expenditures
Excess (deficiency) of Revenues over
(under) Expenditures
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
214,382 3261399 393,539 4831135 5741204 4961074 5801806 621,568 11303,835 11072,664
21494,222 21669,035 21695,807 21843,478 2,960,661 31062,347 3,2871172 31354,522 31507,675 3550,335
1,174, 659 11211,430 11234,101 11431,180 1,213, 866 11181,308 113001583 11463,484 11652,703 11738,732
1581409 1631631 172,439 174,432 181,199 1861059 212,747 244,749 81913 395,491
11035,804 11054,574 11356,339 11365,190 11336,127 11270,359 11136,919 11054,240 11722,677 11437,020
4881874 437,882 442,246 4981932 5131091 502,709 552,176 530,705 5091997 722,129
31,462 39,552 511165 41,171 76,884 83,293 901621 801049 88,129 911539
51000 - - - - -
21780 150 350 - 11500 150 11600 - -
14,333 - - - 181696 - - 171100 43,181 41425
225,467 9681502 365,442 409,060 333,207 9531944 41160,478 21806,886 11771,351 21882,122
41574 21930 4581930 230,930 21930 - - - -
51840,392 61880,729 61714,358 71705,508 71440,365 71739,173 11,323,102 1011731303 10,608,461 111894,457
339,355 248,994 237,193 27,917 443,081 638,135 (2,731,942) (985,880) (600,418) 38,956
City of Chun DUCK
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Other financing sources (uses):
Proceeds from note payable - 1751281 155,468 11,680 21930 - - - - -
Principal payments on leases - - - - - - - - -
Principal payments - (249,263) (154,929) - - (236,050) - - - -
Proceeds from certificate of participation - - - - - - - - 152,278 1,749,674
Interest expense - (51330) - - - - (41000) (31869) (31737) (31605)
Proceeds from sale of assets 17,223 42,796 111154 21,153 23,953 131837 991393 828 61345 -
Transfers in (out) - - (31000) - - - - - -
Total other financing sources (uses) 17,223 (36,516) 81693 32,833 26,883 (222,213) 95,393 (31041) 154,886 11746,069
Net Change in Fund Balances 356,578 2120478 2451886 60,750 4691964 4151922 (21636,549) (988,921) (445,532) 1,7851025
Beginning Fund Balances 21625,090 21987,153 3,199,632 31445,518 31506,268 31976,232 41392,154 11755,605 766,684 322,056
Ending Fund Balances $ 21981,668 $ 31199,632 $ 30445,518 $ 31506,268 $ 31976,232 $ 41392,154 $ 11755,605 $ 766,684 $ 321,152 $ 21107,081
Local Tax Revenues
Highway Streets
Fiscal Year
As of 2021, sales tax apportionment will
Property Tax
Franchise Tax
&Road
2012
$ 40118,011
$ 201,128
$ -
2013
41497,017
192,152
-
2014
41781,207
203,790
114,496
2015
41813,441
198,493
-
2016
41164,281
199,194
645,147
2017
41367,685
201,328
671,658
2018
41342,621
203,950
962,076
2019
4,8201932
189,494
933,810
2020
51331,506
186,818
8531514
2021
$ 41895,548
$ 195,483
$ 894,610
be included with shared sales tax.
City of Chubbuck
General Government Tax and Intergovernmental Revenues by Source
Last Ten Fiscal Years
(modified accrual basis of accounting)
Sales Tax
$ 449,949
487,932
514,286
536,331
566,139
588,016
626,056
651,323
945,996
Total Local Taxes
Highway User's
State Liquor Tax Revenue
$ 41769,088 $
149,070 $
451,302
51177,101
154,777
463,463
516230276
152,877
467,297
51548,265
148,641
494,812
51574,761
15 8, 211
664,004
51828,687
160,066
674,106
6,134,703
164,971
6850345
61595,559
184,041
719,995
71317,834
205,579
718,902
$ 5,9851641 $
243,994 $
941,626
71
Intergovernmental Revenues
Court Revenue
$ 41,915
38,277
30,815
35,312
28,918
31,942
29,940
34,221
28,081
$ 27,335
Road & Bridge
$ 59,652
72,887
66,326
112,443
198,466
175,062
174,663
121,341
69,460
$ 447,544
Shared Sales Tax
$ 206,288
226,276
185,833
265,770
291,023
314,347
348,969
378,229
193,180
$ 1,608,340 61
Total
Intergovernmental
Taxes
908,227
955,680
903,148
1,056,978
1,340,622
1,355,523
1,403,888
1,437,827
1,215,202
3,268,839
Total Taxes
$ 5,677,315
6,132,781
6
6 ,526,424
,605,243
6,915,383
7
7 ,184,210
,538,591
8,033,386
8,533,036
$ 9,254,480
Local Taxes as
a Percentage
of Tota I
City of Chun DUCK
Assessed Valuation and Tax Rate
Last Ten Fiscal Years
Real and Personal Exemptions Home Exemptions Personal Total Assessed Actual Tax Rate Per $1,000
Fiscal Year Tax Roll Utilities Tax Roll Actual Sub Roll Owner's Property Value Levy Rate Value
2012 $ 446,262,451 $ 71358,180 $ 488,182 $ 225,397,223 $ - $ 679,506,036 0.009324266 $ 9.32
2013 454,554,481 71573,803 513,109 203,675,558 638,203 666,955,154 0.009969299 $ 9.97
2014 459,147,628 71502,193 11138,795 236,839,910 - 7041628,526 0.009967676 $ 9.97
2015 4611440,210 71884,559 11017,251 238,171,372 81,774 7081595,166 0.009933799 $ 9.93
2016 475,051,058 71702,297 1,6971797 251,008,396 81,774 735,541,322 0.010140122 $ 10.14
2017 507,1827903 81152,805 469,490 263,554,022 81,744 779,440,964 0.010188661 $ 10.19
2018 524,061,262 81420,799 21493,034 275,948,575 - 810,923,670 0.010636971 $ 10.64
2019 638,286,498 81626,813 2211259 314,458,115 - 961,592,685 0.009459658 $ 9.46
2020 728,136,576 91592,530 41293,710 342,427,509 - 11084,450,325 0.006863105 $ 6.86
2021 * $ 807,089,731 $ - $ - $ - $ - $ 807,089,731 0.008121184 $ 8.12
*Preliminary Assessment Values
Note: Twenty percent of the property in the county is reassessed annually. The County assesses property at 100% of market value. Tax rates are per $1,000 of assessed value.
72
City of Chubb CK
Property Tax Rates
Direct and Overlapping (1) Governments
Last Ten Fiscal Years
(per $1,000 of assessed value)
City of Chubbuck Overlapping Rates
County Road & Ambulance Service School District 25 Combined Levy
Year Base Rates Bannock County Rates Bridge Rates Abatement Rates Portneuf Library Rates Rates Rates Rates
2012 $ 9.32 $ 4.82 $ 0.41 $ 0.13 $ 0.61 $ 0.24 $ 3.90 $ 19.43
2013 9.97 4.92 0.47 0.05 0.61 0.40 4.49 20.91
2014 9.97 5.30 0.48 0.05 0.57 0.40 4.14 20.91
2015 9.93 5.28 0.85 0.04 0.58 0.40 4.42 21.50
2016 10.14 5.24 0.73 0.03 0.61 0.40 3.94 21.09
2017 10.19 5.37 0.67 0.03 0.58 0.40 3.88 21.12
2018 10.64 5.62 0.47 0.03 0.61 0.40 3.85 21.62
2019 9.46 4.85 0.53 0.03 0.52 0.35 3.33 19.06
2020 6.86 3.68 0.50 0.03 0.53 0.34 3.19 15.13
2021 $ 8.12 $ 4.18 $ 0.45 $ 0.03 $ 0.50 $ 0.32 $ 2093 $ 16.52
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
IDAHO CENTRAL CREDIT UNION
PINE RIDGE MALL JC LLC
4200 HAWTHORNE LLC
WAL MART REAL ESTATE
SHJH LLC
GRACE AT CHUBBUCK LLC
AGREE LIMITED PARTNERSHIP
RATLIFF, GARY
CARMIKE CINEMAS INC.
HD DEVELOPMENT OF MARYLAND INC
FNLALL LLC
SHOPKO REAL ESTATE LLC
EMERITOL RIDGE WIND LLC
PINE RIDGE IDAHO LLC
GOLDING FAMILY LIMITED
*Estimated Assessment Values
Source: Bannock County Assessors Ofi~ice
City of chubbuck
Principal Taxpayers
September 30, 2021
2021
Assessed
Type of Business Valuation Rank
FINANCIAL INSTITUTE $ 46,354,000 1
RETAIL 14,571,000 2
REAL ESTATE HOLDINGS 12,345,000 3
RETAIL 10,005,000 4
APARTMENTS 91988,000 5
ASSISTED LIVING 91985,000 6
REAL ESTATE INVESTMENTS 81539,000 7
REAL ESTATE 81158,000 8
ENTERTAINMENT 71101,000 9
REAL ESTATE DEVELOPMENT 51839,000 10
RETAIL - -
DATABASE - -
REAL ESTATE HOLDINGS - -
Total Top Ten $ 132,885,000
Percentage of
Total Assessed
Valuation
Assessed Valuation
5.74% $ 15,640,790
1.81% 12,380,277
1.53% -
1.24% 91709,957
1.24% -
1.24% -
1.06% -
1.01% 31527,002
0.88% -
0.72% 71105,536.00
0.00% 19,723,410
0.00% 51204,568
0.00% 41242,947
0.00% 31684,948
0.00% 31153,834
16.46% $ 847373,269
2012
2
3
4
9
5
1
6
8
10
Percentage of Total
Assessed Valuation
2.30%
1.82%
0.00%
1.43%
0.00%
0.00%
0.00%
0.52%
0.00%
1.05%
2.90%
0.77%
0.62%
0.54%
0.46%
12.42%
Fiscal
Year
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Governmental
Activities
Capital Lease
27,739
Sanitation
Water
Notes
1,382,774
1,265,080
1,130,594
1,076,827
998,848
927,972
8471636
764,418
678,292
588,999
City of Chubbuck
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(accrual basis of accounting)
Sewer Bond
Business Type Activities
Notes
Water Bond DEQ
11830,000 2671790
11720,000 251,448
116101000 234,833
11495,000 2171757
11380,000 200,381
11260,000 1811814
11135,000 21746,190
11010,000 71530,708
880,000 81077,582
745,000 8,2781883
Sewer Note
DEQ
17,665,819
16,873,075
16,436,562
16,363,232
15,
71931
14,445,385
13,592,841
12,740,295
11,679,735
11,035,206
Note: The estimated populations for years 2012 and 2014 were not available and so the most current estimate was used for these years.
Source: (1) U.S. Census
75
Total Primary
Government
21,146,383
20,137,342
19,411,989
19,152,816
17, 877,160
16, 815,171
18,321,667
22,045,421
21,315,609
20, 648,088
(1)
Estimated Per
Population Capita
14,067 11503
14,125 11426
14,125 11374
14,229 11346
14,517 11231
14, 644 11148
14,869 11232
15,316 11439
16,268 11310
16, 608
11243
City of Chubbuck
Revenue Bond Coverage
Water Fund
Last Ten Fiscal Years
Debt Service Requirements (3)
Net Revenue
Available for Debt
Fiscal Year Gross Revenue (1) Operating Expense (2) Service Principal Interest
2012 21411,854 11222,469 11189,385 100,000 60,068
2013 21583,576 11263,607 11319,969 110,000 58,338
2014 214230116 11351,349 11071,767 110,000 56,574
2015 21680,920 11532,822 11148,098 115,000 52,863
2016 21783,945 11535,492 11248,453 115,000 55,514
2017 21728,684 11472,240 11256,444 120,000 45,443
2018 21896,320 11832,479 11063,841 125,000 341175
2019 21983,977 11744,722 11239,255 125,000 32,182
2020 21944,986 11959,268 985,718 130,000 28,420
2021 31167,282 11951,885 11215,397 135,000 24,507
(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.
76
Total
160,068
168,338
166,574
167,863
170,514
165,443
159,175
157,182
158,420
159,507
Coverage
7.43
7.84
6.43
6.84
7.32
7.59
6.68
7.88
6.22
7.62
Pledge of
Revenues
Coverage
Requirement (4)
5.94
6.27
5.15
5.47
5.86
6.08
5.35
6.31
4.98
6.10
City of Chubbuck
Statistical Information
Water Fund
September 30, 2021
Schedule %J Water Revenue and Production For Residential,
Commercial, and Government Accounts
Total Revenue $ 311671282
Estimated number of active customers
4 700
Total water produced (gallons)
Schedule of Water Rates
Monthly Base Fee (by meter size)
,
1, 076,476
Size Price Circuit Breaker
1" or less $ 26.40 $ 18.48
1.5 " 76.01
2" 117.65
3" 244.70
4" 401.06
6" 810.37
g" 11269.13
10" 11938586
Volumetric charge: $1.27 per 1,000 gallons metered water.
Volumetric charge for circuit breaker: $.89 per 1,000 gallons
metered water.
77
CITY OF CHUBBUCK, IDAHO
Ten Largest Water System Customers
For The Fiscal Year Ended September 30, 2021
(per 1,000 gallon used)
of Tota
Top Ten % of Total
Customer Business Type Rank Usage Consumers Usage
Pine Ridge Mall JC LLC Shopping Center 1 43,718 39.2% 4.1%
Circle Inn Trailer Park Mobile Home Park 2 10,547 9.5% 1.0%
Idaho Central Credit Union
Vacant Resident 5102 Hawthorne
Seven Synergy LLC
Pheasant Ridge HOA Inc.
Pine Ridge Mall JC LLC
Camelot Estate
Pheasant Ridge HOA Inc.
Pheasant Ridge HOA Inc.
Total Top Ten Consumers
Total Usage
Banking
Private Property
Staffing Services
Residential Development
Shopping Center
Mobile Home Park
Residential Development
Residential Development
3 10,057 9.0% 0.9%
4 8,900 8.0% 0.8%
5 7,647 6.9% 0.7%
6 6,596 5.9% 0.6%
7 6,129 5.5% 0.6%
8 6,098 5.5% 0.6%
9 5,979 5.4% 0.6%
10 5,729 5.1% 0.5%
111,400 100.0%
1,076,476
10.3
City of ChubbuCK
Statistical Information
Sewer Fund
September 30, 2021
Schedule of Sewer Revenue For Residential, Commercial, and Government Accounts
Total Revenue
Schedule of Sewer Rates
$ 4,403,367
Monthly Base Fee
Regular Circuit Breaker
Residential $ 49.10 $ 34.37
NWSI Residential 10.45 -
Commercial rate for businesses North of the Interstate is $6.94 per $1,000 gallons of water used.
Commercial rate for businesses South of the Interstate is $8.14 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
:�
CITY OF CHUBBUCK
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For The Fiscal Year Ended September 30, 2021
Federal Grantor/Pass-Through Grantor/Program Title
U.S. Department of Transportation
Highway Planning and Construction Cluster:
Passed through the Idaho Transportation Department
Highway Planning and Construction (Federal -Aid Highway Program)
Total Highway Planning and Construction Cluster
Highway Safety Cluster:
Passed through the Idaho Transportation Department
State and Community Highway Safety
National Priority Safety Programs
Total Highway Safety Cluster
Total U.S. Department of Transportation
U.S. Department of the Treasury
Coronavirus Relief Fund
Total U.S. Department of the Treasury
Total Expenditures of Federal Awards
Assistance
Listing No.
20.205
Grant
Number
V159410
20.600
SAL2101
20.600
SDD2103
20.600
SSB21EB
20.616 SOP2IEA
21.019
20-1892-0-1-806
21.019
20-1892-0-1-806
21.019
204892-04-806
21.019
204892-0-1-806
21.019
204892-04-806
81
See accompanying notes
Expeditures Subrecipients
$ 2,207
1,399
71600
9,807
49,199
58,096
20,180
79,833
1,
645,447
1,852,755
$ 1,862,562
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, 2021. 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.
Demon & Company, Chalrte>red
Certified Public Accountants
215 North 9th, Suite A
Pocatello, Idaho 83201-5278
(208) 232-5825
Members of Idaho Society of Certified Public Accountants
Members of American Institute of Certified Public Accountants
1 ' �� C ,�i �r• � • • • , s� � ,� � � fe � I �� ��� � � �, �,i; i ,�Ems' F �* ,� ��` � ��. ��' '�,
3OMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
D
IN ACCORDANCE r AUDITING ' is " j
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, 2021, 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 28,
2022.
Internal Control Over Financial Reporting
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 28, 2022
featon SL Company, Chane>red
Certified Public Accountants
215 North 9th, Suite A
Pocatello, Idaho 83201-5278
(208) 232-5825
Members of Idaho Society of Certified Public Accountants
Members of American Instihrte of Certified Public Accountants
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
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, 2021. 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
N
osts.
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants
applicable to its federal programs.
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.
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, 2021.
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 28, 2022
CITY OF CHBBUCK, IDAHO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
SECTION I -SUMMARY OF AUDITOR RESULTS
Financial Statements
Type of auditor's report issued:
Internal control over financial reporting
Material weaknesses) identified?
Significant deficiencies identified?
Noncompliance material to financial statements noted?
Federal Awards
Internal control over major programs
Material weaknesses identified?
Significant deficiencies identified?
Type of auditor's report issued on compliance for major programs:
Any audit findings disclosed that are required to be reported in accordance
with 2 CFR section 200.516(a)?
Major programs
Assistance
Listing No.
21.019
Name of Federal Program
Coronavirus Relief Fund
Dollar threshold used to distinguish between type A and type B programs:
Auditee qualifies as a low-risk auditee?
SECTION II -FINDINGS -FINANCIAL STATEMENT AUDITS
None
Unmodified
IAC
No
None reported
None reported
Unmodified
$ 750, 000
Yes
SECTION III -FINDINGS AND QUESTIONED COSTS -MAJOR FEDERAL AWARD PROGRAMS AUDIT
None
PRIOR YEAR FINDING
NONE
Deaton & Company, Chartered
Cenified Public Accountants
215 North 911, Suite A
Pocatello, ID 83201-5278
(208)232-5825
Members of the Idaho Society of Cer>Stlad Pubtic Accountants
Members vt the American rnoIvW vi Cert4@d Pubric Accountants
March 23, 2022
To the Treasurer and Management of
the City of Chubbuck, Idaho
Management Comment:
In planning and performing our audit of the financial statements of the City of Chubbuck as of and for the
year ended September 30, 2021, in accordance with auditing standards generally accepted in the United
States of America, we considered the City of Chubbuck's internal control over financial reporting (internal
control) 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 the District's
internal control.
Our consideration of internal control is for the limited purpose and was not designed to identify all
deficiencies in internal control that might be significant deficiencies or material weaknesses and,
therefore, there can be no assurance that all such deficiencies have been identified.
As discussed below, we identified a certain deficiency in internal control that we did not consider to be a
significant deficiency, or a material deficiency but felt it was appropriate to bring to management attention
Policies and Procedures — Allocation of intergovernmental expenditures
Audit standards require auditors to evaluate risk of material misstatements affecting each significant audit
area. The risk level is assessed at each assertion level (existence or occurrence, completeness, rights
and obligations, accuracy or classification, valuation or allocation and cutoff).
During the audit it was noted that various expenditures and assets purchased by the City were broken out
between funds. These intergovernmental expenditures were allocated using various methods. As
auditors we were not able to determine if such allocations were performed in accordance with the City's
policies and procedures as we were informed that the City had no such written policies and procedures.
We found that there were disagreements between some management as to how this allocation should be
done.
This lack of written policies and procedures over the proper allocation of intergovernmental expenditures
and assets creates the risk that intergovernmental expenditures would not be allocated correctly or
consistently between funds.
We suggest that the City document in its current policies and procedures a written policies and
procedures over the proper allocation of intergovernmental expenditures and assets.
If you have any questions or need additional assistance with the above finding, please contact us
Sincerely,
Deaton & Company, Chartered
Certified Public Accountants
215 North 9th, Suite A
Pocatello, ID 83201-5278
(208)232-5825
Members cf the Idaho Society of Certified Public Accountants
Members of the American Institute of Certified Public Accountants
Honorable Mayor and City Council
City of Chubbuck
PO Box 5604
Chubbuck, ID 83202
We have audited the 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 City of Chubbuck for the year ended September 30, 2021. Professional standards require
that we provide you with information about our responsibilities under generally accepted auditing standards
(and, if applicable, Government Auditing Standards and the Uniform Guidance), as well as certain
information related to the planned scope and timing of our audit. We have communicated such information
in our letter to you dated October 6, 2021. Professional standards also require that we communicate to you
the following information related to our audit.
Significant Audit Findings
Qualitative Aspects of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. The significant
accounting policies used by City of Chubbuck are described in Note 1 to the financial statements. The City
has implemented the newest accounting policies that were adopted during the year as of September 30,
2021. The City has implemented GASB Statement up to GASB statement No. 91. We noted no
transactions entered into by City of Chubbuck during the year for which there is a lack of authoritative
guidance or consensus. All significant transactions have been recognized in the financial statements in the
proper period.
Accounting estimates are an integral part of the financial statements prepared by management and are
based on management's knowledge and experience about past and current events and assumptions about
future events. Certain accounting estimates are particularly sensitive because of their significance to the
financial statements and because of the possibility that future events affecting them may differ significantly
from those expected. The most sensitive estimate(s) affecting the Government-Wide's and enterprise fund
financial statements were:
Management's estimate of the life expectancies of capital assets, which were based on
managements' experience and like kind asset lives. We evaluated the key factors and
assumptions used to develop the life expectancies of capital assets in determining that it is
reasonable in relation to the financial statements taken as a whole.
The financial statement disclosures are neutral, consistent, and clear.
Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our
audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the
audit, other than those that are clearly trivial, and communicate them to the appropriate level of
management. Management has corrected all such misstatements. In addition, none of the misstatements
detected as a result of audit procedures and corrected by management were material, either individually or
in the aggregate, to each opinion unit's financial statements taken as a whole.
Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing
matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or
the auditor's report. We are pleased to report that no such disagreements arose during the course of our
audit.
Management Representations
We have requested certain representations from management that are included in the management
representation letter dated March 28, 2022.
Management Consultations with Other Independent Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting
matters, similar to obtaining a "second opinion" on certain situations. If a consultation involves application
of an accounting principle to City of Chubbuck's financial statements or a determination of the type of
auditor's opinion that may be expressed on those statements, our professional standards require the
consulting accountant to check with us to determine that the consultant has all the relevant facts. To our
knowledge, there were no such consultations with other accountants.
Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing
standards, with management each year prior to retention as City of Chubbuck's auditors. However, these
discussions occurred in the normal course of our professional relationship and our responses were not a
condition to our retention.
Other Matters
We applied certain limited procedures to the management discussion and analysis, schedules of budget
and actual, and pension schedules, which are required supplementary information (RSI) that supplements
the basic financial statements. Our procedures consisted of inquiries of management regarding 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 did not audit the RSI and do not express an opinion or provide
any assurance on the RSI.
We were engaged to report on combining statements, which accompany the financial statements but are
not RSI. With respect to this supplementary information, we made certain inquiries of management and
evaluated the form, content, and methods of preparing the information to determine that the information
complies with accounting principles generally accepted in the United States of America, the method of
preparing it has not changed from the prior period, and the information is appropriate and complete in
relation to our audit of the financial statements. We compared and reconciled the supplementary information
to the underlying accounting records used to prepare the financial statements or to the financial statements
themselves.
We were not engaged to report on the statistical and introductory sections, which accompany the financial
statements but are not RSI. Such information has 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 it.
Restriction on Use
This information is intended solely for the information and use of City Council, mayor, and management of
City of Chubbuck, and is not intended to be, and should not be, used by anyone other than these specified
parties.
Very truly yours,
Deaton & Company, Chartered
,1—
Pocatello, Idaho
March 28, 2022
Joey Bowers
From:
Dan Christensen
Sent:
Monday, March 28, 2022 4:48 PM
To:
Joey Bowers
Subject:
FW: 2021 Audited Financial Statements and Certification Letter
Follow Up Flag:
Follow up
Flag Status:
Flagged
From: Jennifer Mabbott <Jennifer.Mabbott@zionsbancorp.com>
Sent: Monday, March 28, 2022 4:46 PM
To: Dan Christensen <dchristensen@cityofchubbuck.us>
Subject: RE: 2021 Audited Financial Statements and Certification Letter
Hi Dan,
The Audited Financials and Certification has been posted to EMMA.
Thank you, Jennifer
Jennifer Mabbott, Vice President and Manager
Zions Bank Corporate Trust
(208)501-7496
From: Dan Christensen <dchristensen@citvofchubbuck.us>
Sent: Monday, March 28, 2022 10:42 AM
To: Jennifer Mabbott <Jennifer.Mabbott@zionsbancorp.com>
Subject: 2021 Audited Financial Statements and Certification Letter
(5 EXTERNAL EMAIL! Inspect contents carefully.
Ms. Mabbott,
Please see attachments for 2021 Audited Financial Statements and Certification Letter for the City of Chubbuck, Idaho.
Please send me a submitted EMMA confirmation.
Thank you,
Dan
1
Joey Bowers
From: Dan Christensen
Sent: Monday, March 28, 2022 2:47 PM
To: Joey Bowers
Subject: FW: 2021 Audited Financial Statements and Certification Letter
Follow Up Flag: Follow up
Flag Status: Flagged
From: Williamson, Tim <tim.williamson@usbank.com>
Sent: Monday, March 28, 2022 2:46 PM
To: Dan Christensen <dchristensen@cityofchubbuck.us>
Subject: RE: 2021 Audited Financial Statements and Certification Letter
Hi Dan,
In compliance with the Continuing Disclosure Agreement, U.S. Bank National Association, acting in its capacity as
Dissemination Agent, has provided the Annual Financial Information and Operating Data for the above referenced
issue(s) via electronic transmission to Electronic Municipal Market Access (http://emma.msrb.org).
https://emma.msrb.ore/MarketActivitV/ContinuingDisclosureDetails/Pll202240
If you have any questions, please feel free to contact me.
Thank you,
Tim Williamson
Trust Review Analyst
p. 206.344.4655 1 f. 206.344.4630 1 tim.williamson@usbank.com
U.S. Bank
Global Corporate Trust
1420 5th Avenue, 7th Floor, Seattle, WA 981011 PD-WA-T7CT I www.usbank.com
U.S. BANCORP made the following annotations
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