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CITY OF CHUBBUCK, IDAHO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
TABLE OF CONTENTS
Paqe
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
26-27
Independent Auditor's Report
10-12
Management Discussion and Analysis
13-22
Basic Financial Statements:
Statements of Net Position
23
Statements of Activities
24
Balance Sheets - Governmental Funds
25
Statements of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
26-27
Statements of Position - Proprietary Funds
28
Statements of Revenues, Expenses, and Changes in Net Position - Proprietary
29
Statements of Cash Flows - Proprietary Funds
30-31
Statement of Fiduciary Net Position - Recreational Program Fund
32
Statement of Changes in Fiduciary Net Position - Recreational Program Fund
33
Notes to Financial Statements
34-49
Required Supplementary Information 50
Budgetary Comparison Schedule - General Fund 51
Budgetary Comparison Schedule - Highway, Streets and Roads 52
Schedule of Employer's Share of Net Pension Liability 53
Schedule of Employer Contributions 54
Notes to Required Supplementary Information 55
2
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
TABLE OF CONTENTS - CONTINUED
Page
Other Supplementary Information
56
Combining Balance Sheet - Nonmajor Governmental Funds
57
Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor
Governmental Funds
58
Statements of Net Position - Internal Service Funds
59
Statements of Revenues, Expenses, and Changes in Net Position - Internal Service
Funds
60
Statements of Cash Flows - Internal Service Funds
61
Budgetary Comparison Schedule - Nonmajor Governmental Funds
62
Statistical Section
63
Statistical Section - Table of Contents
64
Financial Trends
65-72
Revenue Capacity
73-76
Debt Capacity
77-78
Operating Information
79-81
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
82-83
9
INTRODUCTORY SECTION
CHUBBUCI(
I D R H 0
www.city9fc11ubbuck-.us
290 E. Linden Avenue
Chubbuck, ID 83202
(208) 237-2400 phone
(208) 237-2409 fax
MAYOR
Kevin England
March 28, 2023
COUNCIL MEMBERS
Roger Hernandez
Dan Heiner
Melanie Evans
Norman Reece
The Honorable Mayor Kevin England, Members of the City Council, and Citizens of the City of
Chubbuck:
Idaho State Law requires that all general-purpose local governments with an annual budget that exceeds
two hundred fifty thousand dollars submit copies of their audited financial statements to the Iegislative
council. The statements must be presented in conformity with generally accepted accounting principles
(GAAP) and audited in accordance with generally accepted auditing standards (GARS) by a firm of
licensed certified public accountants. Pursuant to those requirements, we hereby issue the comprehensive
annual financial report for the City of Chubbuck for the fiscal year ended September 30, 2022.
Management assumes full responsibility for the completeness and reliability of the information contained
in this report, based upon a comprehensive frame -work of internal control that is established for this
purpose. Because the cost of internal control should not exceed anticipated benefits, the objective is to
provide reasonable, rather than absolute, assurance that the financial statements are free of any material
misstatements.
Deaton & Company, Chartered, a firm of licensed certified public accountants has issued an unmodified
opinion on the City of Chubbuck's financial statements for the year ended September 30, 2022. The
independent auditor's report is located at the front of the financial section of this report.
Management's Discussion and Analysis (MD &A) immediately follows the independent auditor's report
and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A
complement this letter of transmittal and should be read in conjunction with it.
Profile of the City of Chubbuck
The City of Chubbuck (estimated population of 16,032) 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 2022
estimated population of 56,700. The City is located in Bannock County with a 2022 estimated population
of 87,854. 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 monitored
monthly.
The preparation of the comprehensive annual financial report was made possible by the dedicated service
of the entire staff of the City and, in particular, the Clerk's Office. Each member of these departments has
our sincere appreciation for the contributions made in the preparation of this project. Credit also must be
given to the Mayor and the City Council for their support for maintaining high standards of
professionalism in the management of the City of Chubbuck's finances.
Respectfully submitted March 28, 2023
tiRich MorganDaniel Christensen
City Treasurer City Accountant
CITY OF CHUBBUCK, IDAHO
List of Principal Officials
SEPTEMBER 30, 2022
Title
Elected Officials
Mayor
Council President
Council Member
Council Member
Council Member
City Officials
City Attorney
Public Works Director
City Engineer
Sewer/Water Superintendents
Sanitation/Streets Superintendent
Treasurer
City Clerk
Human Resource Officer
City Accountant
Community Services
Police Chief
Computer Information Systems
Parks & Recreation
Fire Chief
!3
Name
Kevin England
Roger Hernandez
Melanie Evans
Dan Heiner
Norman Reece
Ryan Lewis
Bridger Morrison
Bridger Morrison
Scott Baker/Cameron Lusk
Ryan Sullivan
Rich Morgan
Joey Bowers
Scott Gummersall
Dan Christensen
Devin Hillam
Bill Guiberson
Joey Bowers
Aaron Schilhabel
Merlin Miller
COMM
SERV
CITY OF CHUBBUCK
ORGANIZATION CHART
L -
LDEVELOPMENT PLANNING SERVICES I
BUILDING PARKS
0
Deaton & Company, Chartered I I" M milli
Certified Public Accountants
215 North 91h, Suite A
Pocatello, ID 83201-5278
(208) 232-5825 �-
Members of the Idaho Society of Certified Public Accountants
Members of the American Institute of Certified Public Accountants
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
Report on the Financial Statements
Opinion
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, 2022, and the related notes
to the financial statements, which collectively comprise the City's basic financial statements as listed in the table
of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities information of the City of Chubbuck, Idaho, as of September 30,
2022, and the respective changes in financial position, for the year then ended in accordance with accounting
principles generally accepted in the United States of America.
Basis for Opinion
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. Our responsibilities under those standards are further described in
the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to
be independent of the City of Chubbuck, Idaho, and to meet our other ethical responsibilities, in accordance with
the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinion.
Responsibility of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City of Chubbuck's ability to continue
as a going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a
guarantee that an audit conducted in accordance with generally accepted auditing standards and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are
considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence
the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing
Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit 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 City's internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the City's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control -related matters that
we identified during the audit.
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 13-22, 51-52 and
53-54, respectively, be presented to supplement the basic financial statements. Such information, although not a
part of the basic financial statements, is required by the Governmental Accounting Standards Board, who
considers it to be an essential part of financial reporting for placing the basic financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to the
required supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management's responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do not
express an opinion or provide any assurance on the information because the limited procedures do not provide
us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
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 2021 audited financial
statements and, in our report dated March 28, 2022, 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.
In connection with our audit of the basic financial statements, our responsibility is to read the other information
and consider whether a material inconsistency exists between the other information and the basic financial
statements, or the other information otherwise appears to be materially misstated. If, based on the work
performed, we conclude that an uncorrected material misstatement of the other information exists, we are
required to describe it in our report
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 28, 2023, 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, 2023
CITY OF CHUBBUCK, IDAHO
Management's Discussion and Analysis
For the Year Ended September 30, 2022
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,
2022. We encourage readers to consider the information presented here in conjunction with additional
information that we have furnished in the notes to financial statements.
Financial Highlights
• The assets and deferred outflows of the City of Chubbuck exceed its liabilities and
deferred inflows at the close of the most recent fiscal year by $89,776,875 (net
position ).
• The governments net position increased by $10,747,184. Approximately 78 percent of
this increase, $8,379,600 is attributed to capital contributions.
• At the end of the current fiscal year, unassigned fund balances for the general fund
were $3,453,406 or 26 percent of total general fund expenditures.
• In the City's business -type activities, operating revenues increased by $790,762, and
operating expenses increased by $1,745,719. These differences are due to a
combination of increases in services rendered and increases in operating costs
respectively .
• During the current fiscal year, City of Chubbuck's governmental and business -type
liabilities had an increase of $6,216,961 from $25,707,637 to $31,924,598 . The increase
was primarily due to an increase in unearned revenue and net pension liabilities.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City of Chubbuck's basic
financial statements. The City's basic financial statements are comprised of three components: 1)
government -wide financial statements, 2) fund financial statements and 3) notes to the financial
statements. This report also contains other supplementary information in addition to the basic financial -
statements themselves.
Government -wide financial statements. The government -wide financial statements are designed to
provide readers with a broad overview of the City's finances, in a manner similar to a private -sector
business.
The Statement of Net Position presents information on all of the City's assets, deferred outflows and
liabilities with deferred inflows, with the difference between each reported as net position. 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.
The Statement of Activities presents information showing how the City's net position changed during
the fiscal year. All changes in the assets are reported when the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported
in this statement for some items that will only result in cash flows in the future fiscal periods (e.g.,
uncollected taxes and earned but unused compensated absences).
13
Both of the government -wide financial statements distinguish function s 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 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 .
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.
14
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 33-48 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.
15
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 $89,776,875 as of September 30, 2022.
The largest portion of the City of Chubbuck's net position is reflected in its net investment in capital
assets (e.g., land, building, equipment, improvements, work -in -process, and infrastructure), less
accumulated depreciation and any debt used to acquire those assets that is still outstanding.
The City uses these capital assets to provide service to citizens; consequently, these assets are not
available for future spending. Although the City's investment in capital assets is reported net of related
debt, it should be noted that the resources needed to repay this debt must be provided from other
sources, since the capital assets themselves cannot be used to liquidate these liabilities.
Below is a summary of the City of Chubbuck's Net Position statement.
City of Chubbuck's Net Position
Governmental Activities Business Activities Total
9n99 9n91 9n" )n9i 9n99 9n91
ASSETS
Curren. and other assets
5 6,843,100
5 4,741,568
5 22,776,569
S 21,916,481
S 29,619,669
5 26,658,049
Noncurrent assess
43,034,293
32,733,009
56,571,188
54,644,442
99,605,481
87,377,451
Total assess
49,877,393
37,474,577
79,347,757
76,560,923
129,225,150
114,035,500
DEFERRED OUTFLOWS
S 38,527,864
5 31,549,956
S 51,249,011
S 47,479,735
S 89,776,875
S 79,029,691
Pension
2,372,794
1,283,818
998,160
545,136
3,370,954
1,828,954
LIABILITIES
Long-term liabilities outstanding
4,951,609
371,544
20,245,381
19,700,917
25,196,990
20,072,461
Other liabilities
3,569,191
2,242,683
3,158,417
3,392,493
6,727,608
5,635,176
8,520,800
2,614,227
23,403,798
23,093,410
31,924,598
25,707,637
DEFERRED INFLOWS
Pension
52,245
2,897,985
21,977
1,230,545
74,222
4,128,530
Certificate of participation
5,149,278
1,696,227
5,671,131
5,302,369
10,820,409
6,998,596
NET POSITION
Net investment in captial assets
42,901,054
32,641,830
43,397,173
41,932,621
86,298,227
74,574,451
Restricted
168,950
168,150
168,950
168,150
Unrestricted
i4,373,196j
11,091,874)
7,682,888
5,378,964
3,309,698
4,287,090
Total net position
S 38,527,864
5 31,549,956
S 51,249,011
S 47,479,735
S 89,776,875
S 79,029,691
The restricted portion of the City of Chubbuck's net position $168,950, represent resources that are
subject to external restriction on how they may be used. The remaining balance of unrestricted net
position $3,309,698, may be used to meet the governments' ongoing obligation to citizens and
creditors.
As of September 30, 2022, 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, 79 percent of the total liabilities are made up of noncurrent
liabilities. The increase by 24 percent in total liabilities, compared to previous year, is due to an increase
in net pension liabilities.
"
Governmental activities. Governmental activities' key elements are broken down in the following
charts. The general activities increased net position by $6,977,908, and the business -type activities
increased net position by $3,769,276.
The City of Chubbuck's direct charges to users of governmental services totaled $576,393. These charges
are for park rentals, building permits and other fees related to public safety and administration. The
general government accounts for 86 percent of the total charges for services. Public safety includes the
fire and police department and accounts for 55 percent of total charges for services.
Below is summary of the City of Chubbuck's Changes in Net Position.
REVENUES
Program revenues:
Ch a rg es for servi ces
operating grants and contributions
Capital grants and contributions
General revenue:
Property taxes
Franchise fees and intergovernmental
6th er
Transfers in
Total Revenues
EXPENSES
General government
Public safety
Highway, streets and roads
Parks and recreation
Com m u n ity servi ces
Water
Sewer
Sanitation
Health plan trust
CIAWWC Authority
Transfers out
Total expenses
NET CHANGE IN NET POSITION
NET POSITION beginning
NET POSITION ending
City of ChuhhueWs Changes in Net Position
GovernmentalAciivities Business Activities Total
2022 2421 2022 2021 2022 2021
$ 575,393
$ 435,842
$11,944,774
$11,154,012
$12,521,167
$ 11,590,854
1,034,960
2,345,551
-
-
1,034,950
2,345,551
5,322,013
2,253,204
3,285,586
3,228,076
8,607,599
5,481,280
7,001,435
4,790,711
-
-
7,001,435
4,790,711
3,478,388
3,435,987
-
3,478,388
3,435,987
673,581
833,328
[147,660}
824,596
525,921
1,657,924
19,086,770
14,095,523
15,082,700
15,205,684
33,159,470
29,303,307
1,15 3,148
1,348,508
1,15 3,148
1,348, 508
5,089,013
5,090,452
5,089,013
5,090,452
2,121,982
2,135,983
2,121,982
2,135,983
879,101
902,354
879,101
902,354
865,519
95,954
865,518
95,954
-
-
3,494,595
2,742,104
3,494,595
2,742,104
-
-
3,707,757
2,868,693
3,707,757
2,868,693
-
-
2,450,458
1,969,580
2,450,458
1,969,580
-
-
1,645,714
1,345,956
1,645,714
1,345,956
-
-
3,800
305,104
3,800
305,104
11,1o8,862
9,473,261
11,313,424
9,233,437
22,422,286
19,705,598
6,977,908 4,623,352 3,769,276 5,973,247 10,747,184 10,596,609
31,549,955 26,925,594 47,479,735 41,505,488 79,029,591 68,433,082
$ 38,527,864 $31,549,956 $51,249,011 $47,479,735 $89,775,875 $ 79,029,591
17
Revenue by Source - Government Activities
Other $ 673,581, 4%
Franchise fees and
intergovernmental
$ 3,478,388, 19%
Charges for services
$576,393 , 3
Property taxes $ 7,001,435 ,
9 YO
I
Operating grants and
contributions
1,034,960 , 690
Capital grants and
contributions
5,322,013, 29%
Expenses and Program Revenues —Governmental Activities
7,000, 000
6,000, 000
5,000,000
4,0
^j''}y f0}y j0,0
''}yj0''}y j''}y j0''}y
2,000, 000
1,000, 000
■ Expenses
■ Revenue
• The majority of the City of Chubbuck's governmental activities' revenue is received from
property tax 39 percent.
• When all taxes, franchise fees, and intergovernmental revenues are added together, they make
up 106 percent of the budget.
• When revenues are compared to expenses, it shows that most of the City of Chubbuck's
programs are not 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 2022.
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.
19
Business -type activities. Businesses -type activities' key elements are broken down in the following
charts.
Revenue by Source - Business Type Activities
Other [147,660}-0.9845
1
V wftba�k
Capital grants and dedicated
assets $3,285,586 21.78%
Charges far services
$11,944,774 79.20%
Expenses and Program Revenue - Business type Activities
$5,440000
$4,500,000
$4,000,000
$3,500,000
$3,040,000
$2,500,000
$2.000.000
$1.500.000
$1,040,000
$540,000
Water
Sewer
Sa -1-tat-0-1
Revenue
Expense
• One of the major sources of the City of Chubbuck's business -type activities' revenue is received
from service revenue. Currently, the City of Chubbuck's business type activities do not use
property taxes for any type of funding.
• When revenues are compared to expenses, it shows that all of the City of Chubbuck's programs
are self-supporting.
20
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 $2,908,842. Of which $1,143,122 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 $3,253,041. With the other financing sources and uses, the net change in the general fund increased
$540,674 for fiscal year 2022. 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 7
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: $4,985,857, Sewer: $516,981,
and Sanitation: $1,405,383. The water fund had an increase in net position of $1,872,232; the sewer
fund had an increase in net position of $1,877,728; and the sanitation fund had a decrease in net
position of $(291,579) .
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 $540,674
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 $62,181 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, 2022, amounts to $96,544,924 (net of accumulated depreciation).
This investment in capital assets includes land, vehicles, equipment, other improvements, and
infrastructure. The total increase in the City of Chubbuck's investment in capital assets for the fiscal year
was $15,579,424. The increase in assets includes development contributions of $8,379,600.
21
City of Chubbuck's Capital Assets
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
outstandi ng of $19,333,673 . Of this amount, $9,974,645 is comprised of notes to the Department of
Environmental Quality for wastewater infrastructure. Long-term debt also includes bonds with a
remaining balance of $634,421 used for purchasing water rights. The City had a DEQ note payable for
water tank repairs with a remaining balance of $80,909.
In the State of Idaho statutes section 50-3108, the State of Idaho mandates a general obligation debt
limit of 9 percent of the assessed market value of taxable property within the City boundaries. The City
of Chubbuck currently has no general obligation debt. The limit totaled $112,073,005 based on 2021's
actual assessed values of 1,245,255,614. Therefore $112,073,005 is available for future general
obligation indebtedness. Additional information on the City of Chubbuck's long-term debt can be found
in note 11 on pages 42-44 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 Treasurer
at 290 E. Linden Ave, Chubbuck, ID 83202, telephone (208)237-2400.
22
Governmental Activities
Business Activities
To al
2022
2021
2022
2021
2022
2021
Land
S 2,817,486
S 2,643,092
S 2,159,817
S 2,159,817
5 4,977.297
S 4,802.909
Building & Improvements
7,919,735
7,884,696
51,568,633
47,667,894
59,488.368
55,552,590
Vehicles & Equipment
5,258,000
5,387,752
8,624,516
8,328,801
13,882,516
13,716,553
Infrastructure
21,965,166
19,726,936
-
-
21,965,166
19,726.936
Work in Progress
14,583,066
5.758,995
989,097
1,701,858
15,572,163
7,460.853
CIAwwCA;
-
-
Land
-
-
-
-
Infrastructure
Office Equipment
-
-
-
-
Water Rights
-
2.421,167
2,421.167
2,421.167
2,421.167
Total
S 52,543,447
S 41,401,471
S65.763,230
S62,279,537
5 118,306.677
S 103,681.008
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
outstandi ng of $19,333,673 . Of this amount, $9,974,645 is comprised of notes to the Department of
Environmental Quality for wastewater infrastructure. Long-term debt also includes bonds with a
remaining balance of $634,421 used for purchasing water rights. The City had a DEQ note payable for
water tank repairs with a remaining balance of $80,909.
In the State of Idaho statutes section 50-3108, the State of Idaho mandates a general obligation debt
limit of 9 percent of the assessed market value of taxable property within the City boundaries. The City
of Chubbuck currently has no general obligation debt. The limit totaled $112,073,005 based on 2021's
actual assessed values of 1,245,255,614. Therefore $112,073,005 is available for future general
obligation indebtedness. Additional information on the City of Chubbuck's long-term debt can be found
in note 11 on pages 42-44 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 Treasurer
at 290 E. Linden Ave, Chubbuck, ID 83202, telephone (208)237-2400.
22
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
SEPTEMBER 30, 2022
23
See accompanying notes to financial statements
Governmental
Business -type
Development
Activities
Activities
Total
Authority
ASSETS
Current assets
Cash and cash equivalents
$ 8,085,483
$ 18,337,196
$ 26,422,679
$ 1,769,688
Property taxes receivable
610,984
-
610,984
8,220
Intergovernmental receivables
977,213
5,281
982,494
-
Interest receivable
4,460
3,474
7,934
Lease receivable
137,472
-
137,472
Grant receivable
500,568
-
500,568
Internal balances due to/from
(3,473,571)
3,473,571
-
Prepaid expenses
-
13,632
13,632
Other accounts receivable
491
943,415
943,906
6,843,100
22,776,569
29,619,669
1,777,908
Noncurrent assets
Restricted assets
Bond reserves
-
168,950
168,950
Utility deposits
476,085
476,085
Investments
-
2,269,090
2,269,090
Lease assets
141,108
17,121
158,229
Accumulated amortization of assets
(7,869)
(3,928)
(11,797)
-
Capital assets
52,543,447
65,763,230
118,306,677
1,622,524
Accumulated depreciation
(9,642,393)
(12,119,360)
(21,761,753)
-
43,034,293
56,571,188
99,605,481
1,622,524
49,877,393
79,347,757
129,225,150
3,400,432
DEFERRED OUTFLOWS
Pension
2,372,794
998,160
3,370,954
-
LIABILITIES
Current liabilities
Accounts payable
359,715
431,139
790,854
4,260
Grant payable
-
-
-
407,264
Accrued payroll
97,377
40,937
138,314
-
Accrued bond interest
-
1,996
1,996
Interest payable
3,474
860,450
863,924
Unearned revenue
3,016,046
102,878
3,118,924
Current portion compensated absences
92,579
28,214
120,793
-
Current portion of bonds payable
-
152,355
152,355
107,886
Current portion of long-term debt
970,823
970,823
-
Health Claims incurred but not reported
93,540
93,540
Utility deposits
476,085
476,085
-
3,569,191
3,158,417
6,727,608
519,410
Noncurrent liabilities
Bonds payable, net unamortized premium
482,066
482,066
1,429,408
Notes payable
-
17,757,850
17,757,850
-
Lease obligation
113,525
13,164
126,689
Accrued compensated absences
370,318
112,853
483,171
Net pension liabilities
4,467,766
1,879,448
6,347,214
4,951,609
20,245,381
25,196,990
1,429,408
8,520,800
23,403,798
31,924,598
1,948,818
DEFERRED INFLOWS
Pension
52,245
21,977
74,222
-
Certificate of participation
5,149,278
5,671,131
10,820,409
NET POSITION
Net investment in capital assets
42,901,054
43,397,173
86,298,227
-
Restricted
-
168,950
168,950
683,130
Unrestricted
(4,373,190)
7,682,888
3,309,698
768,484
$ 38,527,864
$ 51,249,011
$ 89,776,875
$ 1,451,614
23
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2022
Component Unit:
Chubbuck Development Authority $ 4,112,190 -
$ 4,112,190 -
General Business -type
Activities Activities Total
Net (expense)/revenue
General revenues
Property taxes
Franchise fees
Intergovernmental income
Grant revenue
Interest income
Gain from asset disposal
Other revenue
NET CHANGE IN NET POSITION
BEGINNING NET POSITION
ENDING NET POSITION
$ (4,175,496) $ 3,916,936 $ (258,560)
$ (4,112,190)
$ (4,112,190)
Development
Authority
$ (4,112,190)
7,001,435
7,001,435
Program Revenues
Total
254,956
-
Operating
Capital
Net
-
131,771
Charges for
Grants and
Grants and
(Expense) Development
7,626
Expenses
Services
Contributions
Contributions
Revenue Authority
Functions/Programs
11,153,404
(147,660)
11,005,744
3,111,146
6,977,908
Primary Government:
10,747,184
(1,001,044)
31,549,956
47,479,735
79,029,691
Governmental activities:
$ 38,527,864
$ 51,249,011
$ 89,776,875
$ 1,451,614
General government
$ 1,153,148
$ 497,615
$ 501,568
$
$ (153,965) $ -
Law enforcement
3,922,815
38,982
14,965
(3,868,868) -
Fire control
2,166,198
23,963
-
(2,142,235) -
Highway, streets, and roads
2,121,982
-
-
5,322,013
3,200,031 -
Parks and recreation
879,101
15,833
-
-
(863,268) -
Community services
630,746
-
-
(630,746) -
Other special funds
234,872
518,427
-
283,555 -
11,108,862
576,393
1,034,960
5,322,013
(4,175,496) -
Business -type activities
Water
3,494,695
3,256,843
-
2,248,558
2,010,706 -
Sewer
3,707,757
4,749,986
-
809,028
1,851,257 -
Sanitation
2,460,458
2,223,905
-
-
(236,553) -
Health plan trust
1,646,714
1,714,040
-
-
67,326 -
CIAWWC Authority
3,800
-
-
228,000
224,200 -
11,313,424
11,944,774
-
3,285,586
3,916,936 -
Total primary government
$ 22,422,286
$ 12,521,167
$ 1,034,960
$ 8,607,599
$ (258,560) $ -
Component Unit:
Chubbuck Development Authority $ 4,112,190 -
$ 4,112,190 -
General Business -type
Activities Activities Total
Net (expense)/revenue
General revenues
Property taxes
Franchise fees
Intergovernmental income
Grant revenue
Interest income
Gain from asset disposal
Other revenue
NET CHANGE IN NET POSITION
BEGINNING NET POSITION
ENDING NET POSITION
$ (4,175,496) $ 3,916,936 $ (258,560)
$ (4,112,190)
$ (4,112,190)
Development
Authority
$ (4,112,190)
7,001,435
7,001,435
3,073,877
254,956
254,956
-
3,223,432
3,223,432
-
131,771
(159,885)
(28,114)
7,268
79,272
7,626
86,898
-
462,538
4,599
467,137
30,001
11,153,404
(147,660)
11,005,744
3,111,146
6,977,908
3,769,276
10,747,184
(1,001,044)
31,549,956
47,479,735
79,029,691
2,452,658
$ 38,527,864
$ 51,249,011
$ 89,776,875
$ 1,451,614
24
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2022
Highway,
Streets,
Other
General and Roads
Governmental
Fund Fund
Funds
Total
ASSETS
Cash $ 4,956,949 $ 1,120,069
$ 1,765,720
$ 7,842,738
Accounts receivable 491 -
-
491
Property taxes receivable 594,542 16,442
610,984
Intergovernmental receivables 147,980 184,323
332,303
Interest receivable 4,460 -
4,460
Lease receivable 137,472
137,472
Grant receivable 500,568 -
500,568
Deposit on equipment 632,587 -
632,587
$ 6,975,049 $ 1,320,834
$ 1,765,720
$ 10,061,603
LIABILITIES
Accounts payable $ 243,279 $ 116,436
$ -
$ 359,715
Accrued payroll 86,333 11,044
97,377
Accrued compensated absences 80,286 12,293
92,579
Interest Payable - 3,474
3,474
Due to other funds - 3,473,571
3,473,571
409,898 3,616,818
4,026,716
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - taxes 95,699 14,300
109,999
Unavailable revenues - prepaid 2,881,486 -
2,881,486
Unavailable revenues - leases 134,560 -
134,560
3,111,745 14,300
-
3,126,045
FUND BALANCES
Committed - -
1,765,720
1,765,720
Unassigned 3,453,406 (2,310,284)
-
1,143,122
3,453,406 (2,310,284)
1,765,720
2,908,842
$ 6,975,049 $ 1,320,834
$ 1,765,720
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 $9,642,393.
42,901,054
Lease assets are not reported in the funds, net of amortization
133,239
Unavailable revenue represents amounts that were not available to fund current
expenditures and therefore are not reported in the funds:
Property tax
109,999
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
2,372,794
Deferred inflows of resources related to pensions
(52,245)
Deferred inflows of resources related to certificates of participation
(5,149,278)
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.
255,068
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Lease liability
(113,525)
Accrued compensated absences
(370,318)
Net pension asset/(liability)
(4,467,766)
Net position of governmental funds
$ 38,527,864
25
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
See accompanying notes to financial statements
Highway,
Streets,
Other
General
and Roads
Governmental
Fund
Fund
Funds
Total
REVENUES
Property taxes
$ 6,095,966
$ 944,984
$ -
$ 7,040,950
Franchise fees
254,956
-
-
254,956
Intergovernmental income
2,009,264
1,214,168
-
3,223,432
Court Revenue
28,549
-
-
28,549
Parks revenue
13,133
-
-
13,133
Licenses, permits and fees
368,406
-
-
368,406
Grants
516,533
-
-
516,533
Fire protection and prevention
23,963
-
-
23,963
Law enforcement
10,433
-
-
10,433
Leases and rents
129,209
-
-
129,209
Interest income
118,175
10,444
3,152
131,771
Donations
518,427
-
-
518,427
Charges for services
2,700
-
-
2,700
Other revenues
14,844
4,290
430,626
449,760
10,104,558
2,173,886
433,778
12,712,222
EXPENDITURES
General government
914,597
-
-
914,597
Law enforcement
3,646,501
-
-
3,646,501
Fire control
1,859,209
-
-
1,859,209
Highway, streets, and roads
-
1,618,017
-
1,618,017
Parks and recreation
727,783
-
-
727,783
Community services
593,428
-
-
593,428
Other purchased services
-
-
234,872
234,872
Capital outlays
5,449,148
583,568
-
6,032,716
Lease capital outlays
141,108
-
-
141,108
Debt Service
Principal retirement and lease finance
25,648
-
-
25,648
Interest expense
177
3,474
-
3,651
13,357,599
2,205,059
234,872
15,797,530
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(3,253,041)
(31,173)
198,906
(3,085,308)
OTHER FINANCING SOURCES (USES)
Proceeds from certificate of participation
3,573,335
93,354
-
3,666,689
Proceeds from leases
141,108
141,108
Proceeds from sale of assets
79,272
-
-
79,272
3,793,715
93,354
-
3,887,069
NET CHANGE IN FUND BALANCES
540,674
62,181
198,906
801,761
BEGINNING FUND BALANCE
2,912,732
(2,372,465)
1,566,814
2,107,081
ENDING FUND BALANCE
$ 3,453,406
$ (2,310,284)
$ 1,765,720
$ 2,908,842
(Continued)
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
Tnta I
Reconciliation of the change in fund balances - total governmental funds
to the change in net position of governmental activities:
Net change in fund balances - total governmental funds $ 801,761
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 5,322,013
Capital asset purchases capitalized 6,032,716
Gain or (loss) from asset disposal -
Depreciation expense (1,095,505)
10,259,224
The net affect of sales transactions involving capital assets
The net affect of lease agreement that are reort in the Statement of Activities, but do not privde
current fiancail resources and are not reported in the governmetnal funds. 19,714
Unavailable revenues are not recorded as current period receipts (39,515)
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 12,778
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 1,226
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 (624,229)
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 (3,453,051)
Change in net position $ 6,977,908
27
See accompanying notes to financial statements
ASSETS
Current assets
Cash and cash equivalents
Accounts receivable
Interest receivable
Prepaid expense
Noncurrent assets
Restricted assets
Bond reserves
Utility deposits
Net pension asset
Advance to joint venture
Investments
Capital assets
Accumulated depreciation
Lease assets
Accumulated amortization
Due from other funds
DEFERRED OUTFLOWS
Pension
LIABILITIES
Current Liabilities
Accounts payable
Payroll payable
Health Claims incurred but not reported
Unearned contributions
Accrued compensated absences
Current portion of bonds payable
Accrued bond interest
Current portion of long-term debt
Accrued note interest
Deposits
Noncurrent Liabilities
Revenue bonds payable,
net unamortized premium
Advance payable
Notes payable
Compensated absences
Lease Liabilities
Net pension liabilities
DEFERRED INFLOWS
Pension
Certificate of participation
NET POSITION
Net investment in capital assets 17,171,684 22,316,481 3,904,070 43,392,235 41,926,396 4,938 6,225
Restricted for bond service 168,950 - - - 168,950 168,150 - -
Unrestricted 4,985,857 516,981 1,405,383 682,956 7,591,177 5,304,109 346,779 317,145
$ 22,326,491 $22,833,462 $5,309,453 $ 682,956 $ 51,152,362 $ 47,398,655 $ 351,717 $ 323,370
Adjustment to reflect the consolidation of internal service fund activities related to enterprise activities. 96,649
$ 51,249,011
28
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF
NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2022
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2021
Internal
Internal
Health Plan
Service
Service
Water
Sewer
Sanitation
Trust CIAWWCA
Total
2021
Funds 2022
Funds 2021
$ 5,236,254
$ 9,281,835
$2,884,746
$ 830,327 $
$18,233,162
$ 17,359,375
$ 346,779
$346,128
349,962
359,561
184,136
49,756
943,415
796,459
17,604
-
-
3,474
-
-
3,474
3,605
-
13,632
13,632
47,828
5,599,848
9,644,870
3,068,882
880,083
19,193,683
18,207,267
364,383
346,128
168,950
-
-
-
168,950
168,150
-
-
472,085
3,300
700
476,085
405,081
-
-
-
-
38,717
-
-
-
228,000
1,834,390
-
434,700
2,269,090
1,995,765
-
-
31,822,653
26,840,593
6,838,899
65,502,145
62,018,452
261,085
261,085
(4,900,878)
(4,524,112)
(2,438,223)
(11,863,213)
(9,987,948)
(256,147)
(254,860)
5,724
5,724
5,673
17,121
(1,315)
(1,315)
(1,298)
(3,928)
3,473,571
-
3,473,571
3,605,376
29,401,609
25,797,761
4,840,451
60,039,821
58,471,593
4,938
6,225
35,001,457
35,442,631
7,909,333
880,083
79,233,504
76,678,860
369,321
352,353
357,524
312,209
328,427
-
998,160
545,136
-
-
60,456
281,411
70,959
709
413,535
972,575
17,604
28,983
14,832
12,858
13,247
-
40,937
115,339
-
-
-
-
-
93,540
93,540
83,590
-
-
-
102,878
102,878
105,429
11,648
10,758
5,808
-
28,214
32,556
152,355
-
-
152,355
147,355
1,996
-
-
1,996
2,346
22,211
852,545
96,067
970,823
966,818
858,905
-
1,545
860,450
532,421
472,085
3,300
700
-
476,085
405,081
-
-
1,594,488
1,160,872
188,326
197,127
3,140,813
3,363,510
17,604
28,983
482,066
-
-
-
482,066
634,422
-
-
-
-
-
-
228,000
8,235,211
9,122,100
400,539
17,757,850
18,936,270
46,590
43,033
23,230
112,853
130,225
4,399
4,399
4,366
13,164
673,187
587,862
618,399
1,879,448
9,441,453
9,757,394
1,046,534
20,245,381
19,928,917
11,035,941
10,918,266
1,234,860
197,127
23,386,194
23,292,427
17,604
28,983
7,872
6,874
7,231
-
21,977
1,230,545
-
-
1,988,677
1,996,238
1,686,216
5,671,131
5,302,369
Net investment in capital assets 17,171,684 22,316,481 3,904,070 43,392,235 41,926,396 4,938 6,225
Restricted for bond service 168,950 - - - 168,950 168,150 - -
Unrestricted 4,985,857 516,981 1,405,383 682,956 7,591,177 5,304,109 346,779 317,145
$ 22,326,491 $22,833,462 $5,309,453 $ 682,956 $ 51,152,362 $ 47,398,655 $ 351,717 $ 323,370
Adjustment to reflect the consolidation of internal service fund activities related to enterprise activities. 96,649
$ 51,249,011
28
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2021
29
See accompanying notes to financial statements
Internal
Internal
Health Plan
Service
Service
Water
Sewer
Sanitation
Trust
CIAWWCA
Total
2021
Funds 2022
Funds 2021
OPERATING REVENUES
Service revenue
$ 2,622,422
$ 4,749,986
$ 2,223,905
$ 1,714,040
$
$11,310,353
$ 10,372,235
$ 331,798
$ 360,800
Revenue used as security
for revenue bond:
Charges for services
634,421
634,421
781,777
3,256,843
4,749,986
2,223,905
1,714,040
11,944,774
11,154,012
331,798
360,800
OPERATING EXPENSES
Administration
-
-
-
54,322
54,322
52,741
-
69
Salaries and wages
734,196
639,635
688,543
-
2,062,374
2,066,290
-
Personnel benefits
382,496
323,203
363,803
1,220,311
2,289,813
1,384,911
-
5,534
Repairs and maintenance
282,014
177,237
750,020
1,209,271
1,208,775
13,766
19,046
Equipment and supplies
517,590
115,669
259,232
892,491
362,900
279,023
334,089
Travel, meetings, and training
17,872
3,820
3,312
25,004
18,065
48
3,182
Telephone and communications
8,170
7,174
7,174
22,518
26,550
-
-
Utilities
216,907
40,714
7,947
265,568
237,199
9,978
6,528
Treatment - Pocatello
-
1,511,891
-
1,511,891
1,430,738
-
-
Certificate of participation payment
82,829
83,143
70,231
-
236,203
243,572
Other purchased services
48,294
-
1,250
326,703
376,247
381,395
Professional services
31,107
11,084
7,860
45,378
3,800
99,229
348,603
Bad debt
2,243
2,577
587
-
-
5,407
1,555
-
-
Depreciation
833,197
790,263
280,050
1,903,510
1,448,763
1,287
1,287
Lease amortization
1,315
1,315
1,298
3,928
3,158,230
3,707,7252,2RT,-3o7
--T,-64-6-,7-T4-
3,800
10,957,7769,
-2f2 -,O-57
369,735
OPERATING INCOME
98,613
1,042,261
(217,402)
67,326
(3,800)
986,998
1,941,955
27,696
(8,935)
NONOPERATING REVENUE (EXPENSE)
Interest income
10,530
16,410
6,130
-
33,070
21,539
651
455
Investment income
(135,082)
-
(61,347)
(196,429)
(966)
-
-
Note interest income
3,474
3,474
3,605
Bond interest expense
(20,445)
-
(20,445)
(24,507)
Note interest expense
(331,557)
-
(19,119)
(350,676)
(26,291)
Lease interest expense
(32)
(32)
(32)
(96)
-
Grant revenue
-
-
-
228,000
228,000
228,000
Miscellaneous revenue
547
61
191
3,800
4,599
-
Gain (Loss) from asset disposal
1,100
6,526
-
-
7,626
800,418
Transfers in (out)
(474,939)
26,439
(74,177)
231,800
(290,877)
1,001,798
651
455
CAPITAL CONTRIBUTIONS
Developer contributions
2,248,558
809,028
3,057,586
3,000,076
2,248,558
809,028
3,057,586
3,000,076
CHANGES IN NET POSITION
1,872,232
1,877,728
(291,579)
67,326
228,000
3,753,707
5,943,829
28,347
(8,480)
BEGINNING NET POSITION
20,454,259
20,955,734
5,601,032
615,630
(228,000)
47,398,655
41,454,826
323,370
331,850
ENDING NET POSITION
$ 22,326,491
$22,833,462
$ 5,309,453
$ 682,956
$
$51,152,362
$ 47,398,655
$ 351,717
$ 323,370
Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds
15,569
Change in net position
of business -type activities
$ 3,769,276
29
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2021
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 debt
Interest paid
Proceeds from certificate of participation
Proceeds from asset disposals
Principal and interest paid on lease
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 proceeds
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
Internal Internal
Health Plan Service Service
Water Sewer Sanitation Trust CIAWWCA Total 2021 Funds 2022 Funds 2021
$3,189,218 $4,718,052 $2,207,824 $ 1,745,930 $ - $11,861,024 $11,187,608 $ 314,845 $361,255
(1,419,879) (2,148,216) (1,254,087) (1,623,131) (3,800) (6,449,113) (5,444,658) (314,194) (355,335)
(1,062,536) (919,451) (989,431) - - (2,971,418) (2,804,613) - (5,534)
706,803 1,650,385 (35,694) 122,799 (3,800) 2,440,493 2,938,337 651 386
- 359,805 - (228,000) 131,805 131,673 - -
- - - 231,800 231,800 228,000
70,554 350 100 - 71,004 (20,143)
70,554 360,155 100 3,800 434,609 339,530
(161,461) (1,060,561) (92,393) - (1,314,415) (896,923)
(31,334) - (19,464) (50,798) (51,157)
129,313 129,804 109,645 368,762 4,845,534
1,100 6,526 - 7,626 -
(1,357) (1,357) (1,339) (4,053)
(130,391) (323,961) (454,352) (6,553,928)
(194,130) (925,588) (327,512) (1,447,230) (2,656,474)
37,371 20,075 (489,727) (432,281) 283,786
37,371 20,075 (489,727) (432,281) 283,786 - -
620,598 1,105,027 (852,833) 122,799 995,591 905,179 651 386
5,256,691 8,180,108 3,738,279 707,528 17,882,606 16,977,427 346,128 345,742
$5,877,289 $9,285,135 $2,885,446 $ 830,327 $ $18,878,197 $17,882,606 $ 346,779 $ 346,128
$5,236,254 $9,281,835 $2,884,746 $ 830,327 $ $18,233,162 $17,359,375 $ 346,779 $ 346,128
641,035 3,300 700 - 645,035 523,231 - -
$5,877,289 $9,285,135 $2,885,446 $ 830,327 $ $18,878,197 $17,882,606 $ 346,779 $ 346,128
30
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2021
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
31
See accompanying notes to financial statements
Internal
Internal
Health Plan
Service
Service
Water
Sewer
Sanitation
Trust
CIAWWCA Total
2021
Funds 2022
Funds 2021
OPERATING INCOME
$ 98,613
$1,042,261
$ (217,402)
$ 67,326
$ (3,800) $ 986,998
$1,994,696
$ 28,347
$ (8,480)
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation and amortization
834,512
791,578
281,348
-
1,907,438
1,448,763
1,287
1,287
Pension expense
91,631
78,861
86,082
256,574
(322,812)
-
-
Baddebtexpense
2,243
2,577
587
-
5,407
1,555
(Increase) decrease in assets
Accounts receivable
(67,625)
(31,934)
(16,081)
47,473
(68,167)
(21,397)
(17,604)
Prepaid expense
-
(13,633)
-
Increase (decrease) in liabilities
Accounts payable
(215,096)
(197,484)
(147,061)
8,000
(551,641)
(172,423)
(11,379)
7,579
Payroll payable
(26,304)
(23,088)
(25,010)
-
(74,402)
2,180
-
Accrued compensated absences
(11,171)
(12,386)
1,843
-
(21,714)
21,408
-
Total adjustments
608,190
608,124
181,708
55,473
1,453,495
943,641
(27,696)
8,866
NET CASH PROVIDED BY OPERATING ACTIVITIES
$ 706,803
$1,650,385
$ (35,694)
$ 122,799
$ (3,800) $ 2,440,493
$ 2,938,337
$ 651
$ 386
31
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2022
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2021
Net Position
Held in trust $ 33,105 $ 37,808
32
See accompanying notes to financial statements
Recreation
Programs
Trust Fund
2022
2021
Assets
Cash
$ 33,105
$38,078
33,105
38,078
Liabilities
Accounts payable
-
270
-
270
Net Position
Held in trust $ 33,105 $ 37,808
32
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, 2022
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2021
33
See accompanying notes to financial statements
Recreation
Programs Trust
Fund 2022
2021
Additions
Boys registration
$ 19,214
$ 15,917
Girls registration
11,330
10,088
Tee/tiger registration
20,978
14,465
Boys sponsorship
3,451
2,250
Girls sponsorship
3,000
2,550
Other revenue
600
90
Total additions
58,573
45,360
Deductions
Boy's baseball
25,905
22,336
Girl's softball
12,227
11,884
Tee/tiger ball
14,435
7,781
Other expenses
10,709
8,793
Total deductions
63,276
50,794
Change in net position
(4,703)
(5,434)
Net position - beginning of the year
37,808
43,242
Net position - end of the year
$ 33,105
$ 37,808
33
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 1 OF 16)
NOTE 1 - Summary of Sianificant Accountina Policies
The City's financial statements comply with generally accepted accounting principles (GAAP). GAAP includes all relevant
Governmental Accounting Standards Board (GASB) pronouncements within the codification. The government -wide financial
statements, including the enterprise funds and the fund financial statements for the proprietary funds, are also under GASB
codification. The accounting and reporting framework and the more significant accounting policies are discussed in subsequent
subsections of this note. Applicable GASB statements have been implemented through GASB 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)
Effective September 1, 2007, Bannock County, Idaho, City of Pocatello, Idaho and the City of Chubbuck, Idaho entered into a Joint
Powers Agreement creating the Chubbuck Impact Area Wastewater Collection Authority (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 were paid in full at year-end. During the
prior 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.
Page 34
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 2 OF 16)
NOTE 1 - 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 is placed on major funds within the governmental and proprietary categories. A fund is considered major if it is the
primary operating fund of the City or meets the following criteria:
a. Total assets, liabilities, revenues or expenditures of that individual governmental or enterprise fund are at least 10 percent of
the corresponding total for all funds of that category or type.
b. Total assets, liabilities, revenues, or expenditures of the individual governmental fund or enterprise fund are at least 5 percent
of the corresponding total for all governmental and enterprise funds combined.
Governmental Funds
General Fund
The General Fund is the general operating fund of the City and is always classified as a major fund. All financial resources, except
those required to be accounted for in another fund, are accounted for in the General Fund.
Highway, Streets, and Roads Fund
The Highway, Streets, and Roads Fund accounts for revenue and expenditures used for the construction and maintenance of
highways, streets, and roads. It is a major fund.
Special Revenue Funds
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures
for specific purposes.
Proprietary Funds
Enterprise Funds
Enterprise funds are used to account for business -like activities provided to the general public. These activities are financed
primarily by user charges and the measurement of financial activity focuses on net income measurement similar to the private
sector. The reporting entity includes the water, sewer, 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.
Page 35
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 3 OF 16)
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 interfund 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 not use the encumbrance method of accounting.
E. Cash and Cash Equivalents
For the purpose of the Statement of Net Position, "cash and cash equivalents" includes all demand, savings accounts, certificates of
deposits, and state investing pools of the City. For the purpose of the proprietary fund Statement of Cash Flows, "cash and cash
equivalents" include all demand and savings accounts, and certificates of deposit or short-term investments with an original maturity
of three months or less.
Page 36
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 4 OF 16)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
F. Fair Value Measurements of Assets and Liabilities
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. GAAP establishes a fair value hierarchy for inputs used in measuring fair
value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most
observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or
liability based on market data obtained from sources independent of the City. Unobservable inputs reflect the City's assumptions
about the inputs market participants would use in pricing the asset or liability based on the best information available. The fair value
hierarchy is categorized into three levels based on the inputs as follows:
Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities that City has the ability to access.
Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these assets
and liabilities does not require a significant degree of judgement.
Level 2 - Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either
directly or indirectly.
Level 3 - Valuations based on inputs that are unobservable, that is, inputs that reflect the City's own assumptions.
G. Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, right of way and similar
items), are assets with an initial, individual cost of more than $25,000 and an estimated useful life in excess of one year.
The accounting treatment for property, plant and equipment depends on whether the assets are used in governmental fund
operations or proprietary fund operations and whether they are reported in the government -wide or fund financial statements.
Government -wide Statements
In the government -wide financial statements, the assets are accounted for as capital assets. All capital assets are valued at
historical cost, or estimated historical cost if actual is unavailable, except for donated assets which are recorded at their estimated
fair value at the date of donation. Estimated historical cost was used to value the majority of the assets acquired prior to September
30, 2003.
Governmental fund infrastructure assets were not capitalized prior to October 1, 2003.
Depreciation of all exhaustible capital assets is recorded as an allocated expense in the Statement of Activities, with accumulated
depreciation reflected in the Statement of Net Position. Depreciation is provided over the assets' estimated useful lives using the
straight-line method of depreciation. The range of estimated useful lives by type of asset is as follows:
Buildings 20-30 years
Other structures 15-20 years
Equipment 7-10 years
Vehicles 5-7 years
Fund Financial Statements
In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay
expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations are accounted for the
same as in the government -wide statements.
H. Restricted Assets
Restricted assets include cash and investments of the general fund that are legally restricted as to their use. The primary restricted
assets are related to employee benefits.
Restricted assets include cash and investments of the proprietary fund that are legally restricted as to their use. The primary
restricted assets are related to utility deposits and bond reserve requirements.
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted resources first, then
unrestricted resources as they are needed.
Page 37
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 5 OF 16)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
I. Lessor/Lessee Leases
For the year ended 9/30/2022, the financial statements include the adoption of GASB Statement No. 87, Leases. The primary
objective of this statement is to enhance the relevance and consistency of information about governments' leasing activities. This
statement establishes a single model for lease accounting based on the principle that leases are financings of the right to use an
underlying asset. Under this Statement, a lessee is required to recognize a lease liability and an intangible right -to -use lease asset,
and a lessor is required to recognize a lease receivable and a deferred inflow of resources.
J. 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.
K. 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.
L. 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.
M. Equity Classifications
Govemment-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.
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.
Page 38
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 6 OF 16)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
M. Equity Classifications (continued)
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.
N. 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.
O. 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
$ 168,950
476,085
$ 645,035
Bond reserves are amounts the City is legally required to reserve for the repayment of outstanding bonds.
Water deposits are collected from individuals who receive utility services from the City. Money on deposit may be used to pay past
due balances or is returned when the payer stops utility service. Restricted utility deposits totaled $476,085 at year-end.
NOTE 4 - Property Tax
Bannock County has the responsibility of assessing and collecting all property taxes. Taxes levied for the year are payable in two
installments due December 20th of the current year and June 20th of the following year. The County remits property taxes collected
to the City monthly.
Property taxes are recognized as revenue when received for monthly reporting purposes. At year end, an accrual is made to
recognize property taxes receivable at year end. At year end, $610,984 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, 2022.
Page 39
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 7 OF 16)
NOTE 6 - Cash, Cash Equivalents and Investments
Primary Government:
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Balance
Restricted
$
645,035
Unrestricted
26,422,679
$
27,067,714
Fiduciary Fund:
Balance
Cash
$
33,105
$
33,105
Deposits
Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the government's deposits may not be returned to it.
At year-end, the carrying amount of the City's deposits (cash and certificates of deposit) was $27,100,819 and the bank balance was
$23,633,886. 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
$2,585,617.
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, 2022, the City had the following investments
Maturities
More Than
Fair Value No Maturity 1-10 Years 10 Years Moody / S&P
Money Funds $ 13,614 $ 13,614 $ - $ N/A
U.S. Government Bonds 2,282,704 - 2,282,704 Aaa / AA+
Total Investments $ 2,296,318 $ 13,614 $ 2,282,704 $
The above investments are measured at fair market value based on the exit price for these investments at the fiscal year end date.
These are all considered to be measured on a Level 1 on the fair market value hierarchy.
Component Unit - Chubbuck Development Authority (CDA):
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Unrestricted
$ 1,769,688
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
$1,769,688. 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
Page 40
NOTE 6 -
NOTE 7 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 8 OF 16)
Cash and Cash Equivalents and Investments (Continued)
Component Unit - Chubbuck Impact Area Waste Water Collection Authority (CIAWWCA):
Deposits and Investments - The CIAWWCA has no deposits or investments.
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Unrestricted
Bank Deposits - Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the government's deposits may not be
returned to it. At year-end the carrying amount and bank balance of CIAWWCA's deposits (cash and certificates of deposit) was $0.
At year-end, all the Authority's deposits were held in a financial institution. All deposits were guaranteed by the Federal Deposit
Insurance Corporation and were not subject to custodial credit risk.
Receivables and Deferred Inflow of Resources -Leases
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:
The City, as a lessor, has entered into lease agreements involving infrastructure, land and structures, and buildings. As of 9/30/22,
the City's leases have a lease receivable balance of $137,472. The balance of the deferred inflow of resources was $134,560, and
the lease revenue balance was $58,335.
Principal and Interest Expected to Maturity
Governmental Activities
CIAWWC
Water
Sewer
Sanitation Authority
Total
Accounts Receivables $ 364,269
$ 370,944
$ 188,234 $ -
$ 923,447
Allowance for Doubtful Accounts (14,307)
(11,383)
(4,098) -
(29,788)
$ 349,962
$ 359,561
$ 184,136 $ -
$ 893,659
The City, as a lessor, has entered into lease agreements involving infrastructure, land and structures, and buildings. As of 9/30/22,
the City's leases have a lease receivable balance of $137,472. The balance of the deferred inflow of resources was $134,560, and
the lease revenue balance was $58,335.
Principal and Interest Expected to Maturity
Governmental Activities
Lease Receivable
Governmental Activities
Deferred Inflow of Resources -Leases
NOTE 8 - Concentration of Credit Risk
Beginning Ending
Balance Additions Reductions Balance
$ $ 192,895 $ 55,423 $ 137,472
$ 192,895 55,423 137,472
Beginning Ending
Balance Additions Reductions Balance
$ $ 192,895 $ 58,335 $ 134,560
192,895 58,335 134,560
Interest Rate Risk is the risk that changes in interest rates will adversely affect the value of a deposit. The City manages its
exposure to declines in fair value by limiting the average maturity of its deposits to one year or less, or redeemable on demand with
no penalty.
Credit Risk is the risk that an issuer or a counterparty to a deposit will not fulfill its obligations. The City seeks to minimize credit risk
through diversification of deposits within the choices allowed under state statutes. The City's investments in U.S. government bonds
were rated Aaa and AA+ by Moody's and Standard & Poor's Investor Services, respectively. Idaho law requires the City to obtain the
safest investment rated by a nationally recognized standard rating service.
Page 41
Governmental Activities
Principal
Interest
Fiscal Year
Payments
Payments Total
Payments
2023
$ 37,973
$ 1,137 $
39,110
2024
27,939
930
28,869
2025
29,236
722
29,958
2026
7,437
560
7,997
2027
5,522
478
6,000
2028- 2032
28,866
1,134
30,000
2033
499
1
500
$ 137,472
$ 4,962 $
142,434
Governmental Activities
Lease Receivable
Governmental Activities
Deferred Inflow of Resources -Leases
NOTE 8 - Concentration of Credit Risk
Beginning Ending
Balance Additions Reductions Balance
$ $ 192,895 $ 55,423 $ 137,472
$ 192,895 55,423 137,472
Beginning Ending
Balance Additions Reductions Balance
$ $ 192,895 $ 58,335 $ 134,560
192,895 58,335 134,560
Interest Rate Risk is the risk that changes in interest rates will adversely affect the value of a deposit. The City manages its
exposure to declines in fair value by limiting the average maturity of its deposits to one year or less, or redeemable on demand with
no penalty.
Credit Risk is the risk that an issuer or a counterparty to a deposit will not fulfill its obligations. The City seeks to minimize credit risk
through diversification of deposits within the choices allowed under state statutes. The City's investments in U.S. government bonds
were rated Aaa and AA+ by Moody's and Standard & Poor's Investor Services, respectively. Idaho law requires the City to obtain the
safest investment rated by a nationally recognized standard rating service.
Page 41
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 9 OF 16)
NOTE 8 - Concentration of Credit Risk (continued)
Concentration of Credit Risk is the risk of loss attributed to the magnitude of an investment in a single issuer. Exclusive of the State
of Idaho LGIP, the City's deposits in any one issuer does not represent a concentration of total credit risk. The funds in the State of
Idaho LGIP are in a variety of investments which are required to have an A quality credit rating or better.
The City is subject to credit risk on deposits in banks that exceed the FDIC maximum insured balance amount.
Additionally, the City grants credit to customers in the City for utility service. This extension of credit potentially subjects the City to
credit risk.
NOTE 9 - Changes in Assets
A summary of general capital assets at year end is as follows
Nondepreciable assets
Land
Water Rights
Work in Process
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
A summary of general lease assets at year end is as follows:
Vehicles and Equipment
Accumulated Amortization
$ 2,159,817
Beginning
-
$ 2,159,817
Ending
Balance
Additions
Deletions
Balance
Nondepreciable assets
989,097
47,667,894
3,900,739
-
Land
$ 2,643,092
$ 174,388
$ -
$ 2,817,480
Work in Process
5,758,995
8,824,071
-
14,583,066
Infrastructures
19,726,936
2,238,230
-
21,965,166
Buildings and Improvements
7,884,696
35,039
-
7,919,735
Vehicles and Equipment
5,387,752
83,001
212,753
5,258,000
41,401,471
11,354,729
212,753
52,543,447
Accumulated Depreciation
8,759,641
1,095,505
212,753
9,642,393
$ 32,641,830
$ 10,259,224
$ -
$ 42,901,054
A summary of proprietary type capital assets at
year end is as follows:
Beginning
Ending
Balance
Additions
Deletions
Balance
Nondepreciable assets
Land
Water Rights
Work in Process
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
A summary of general lease assets at year end is as follows:
Vehicles and Equipment
Accumulated Amortization
$ 2,159,817
$ $
-
$ 2,159,817
2,421,167
-
2,421,167
1,701,858
712,761
989,097
47,667,894
3,900,739
-
51,568,633
8,328,801
323,960
28,245
8,624,516
62,279,537
4,224,699
741,006
65,763,230
10,242,808
1,904,797
28,245
12,119,360
$ 52,036,729
$ 2,319,902 $
712,761
$ 53,643,870
Beginning Ending
Balance Additions Deletions Balance
$ $ 141,108 $ $ 141,108
141,108 141,108
7,869 $ 7,869
$ $ 133,239 $ $ 133,239
A summary of proprietary type lease assets at year end is as follows:
Beginning Ending
Balance Additions Deletions Balance
Equipment $ $ 17,120 $ - $ 17,120
17,120 - 17,120
Accumulated Amortization 3,928 - $ 3,928
$ $ 13,192 $ - $ 13,192
Page 42
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 10 OF 16)
NOTE 10 - Lease Payable
The City, as a lessee, has entered into lease agreements involving vehicles and equipment. As of 9/30/22, the City's leases have a
lease liability balance of $126,688. The balance of the lease revenue was $11,797.
Principal and Interest Expected to Maturity
Business -Type Activities
Principal
Interest
Governmental Activities
Fiscal Year
Payments
Principal
Interest
Total
Fiscal Year
Payments
Payments
Payments
2023
$ 27,349
$ 2,414 $
29,763
2024
27,953
1,856
29,809
2025
27,853
1,256
29,109
2026
27,166
644
27,810
2027
3,204
41
3,245
$ 113,525
$ 6,211 $
119,736
NOTE 11 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt:
Governmental Business -type
$ 92,579 $ 28,214
370,318 112,853
$ 462.897 $ 141.067
The City's long-term debt is segregated between the amounts to be repaid from governmental activities and amounts to be repaid
from business -type activities.
Governmental Activities:
As of year end, the governmental fund had no long-term debt.
Business -type activities:
In 2006, the City refinanced a construction line of credit for a note payable with the Department of Environmental Quality (DEQ) with
an interest rate of 3.25% and semi-annual payments of $12,332 for 20 years.
Current portion
Noncurrent portion
Page 43
$ 22,211
58,698
$ 80,909
Business -Type Activities
Principal
Interest
Total
Fiscal Year
Payments
Payments
Payments
2023
$ 4,225
$ 108
$ 4,333
2024
3,767
52
3,819
2025
3,090
29
3,119
2026
2,081
7
2,088
Balance
$ 13,163
$ 196
$ 13,359
NOTE 11 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt:
Governmental Business -type
$ 92,579 $ 28,214
370,318 112,853
$ 462.897 $ 141.067
The City's long-term debt is segregated between the amounts to be repaid from governmental activities and amounts to be repaid
from business -type activities.
Governmental Activities:
As of year end, the governmental fund had no long-term debt.
Business -type activities:
In 2006, the City refinanced a construction line of credit for a note payable with the Department of Environmental Quality (DEQ) with
an interest rate of 3.25% and semi-annual payments of $12,332 for 20 years.
Current portion
Noncurrent portion
Page 43
$ 22,211
58,698
$ 80,909
Beginning
Governmental Activities
Balance
Additions
Reductions
Ending Balance
Lease Liability
$ 141,108
$ 27,583
$ 113,525
141,108
27,583
113,525
Beginning
Business -Type Activities
Balance
Additions
Reductions
Ending Balance
Lease Liability
$
$ 17,120
$ 3,957
$ 13,163
$
17,120
3,957
13,163
NOTE 11 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt:
Governmental Business -type
$ 92,579 $ 28,214
370,318 112,853
$ 462.897 $ 141.067
The City's long-term debt is segregated between the amounts to be repaid from governmental activities and amounts to be repaid
from business -type activities.
Governmental Activities:
As of year end, the governmental fund had no long-term debt.
Business -type activities:
In 2006, the City refinanced a construction line of credit for a note payable with the Department of Environmental Quality (DEQ) with
an interest rate of 3.25% and semi-annual payments of $12,332 for 20 years.
Current portion
Noncurrent portion
Page 43
$ 22,211
58,698
$ 80,909
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 11 OF 16)
NOTE 11 - 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 $3,266 for 20 years, and a maturity date of
April 27, 2035. Loan closed January 31, 2011. 81,644
$ 9,974,645
Less current portion 852,545
Noncurrent portion $ 9,122,100
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 2022.
Available Principal
$ 323,487 $ 8,176,513
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: Net Premium Principal Total
Water Revenue Bond $ 29,421 $ 605,000 $ 634,421
29,421 605,000 634,421
Less current portion 7,355 145,000 152,355
Noncurrent portion $ 22.066 —L --:L60 .000 —L--482 .066
Bond premiums, net amortization totaled $29,421. 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:
Less current portion
Noncurrent portion
Due To/Due From
$ 496,606
96,067
$ 400,539
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
Page 44
Due to Due to
$ 3,473,571 $
3,473,571
$ 3,473,571 $ 3,473,571
Outstanding
DEQ line of credit at zero percent interest, with biannual payment of $5,499 for 20 years, and a maturity date of
November 1, 2030. Loan closed April 22, 2010.
$ 93,590
DEQ line of credit at zero percent interest, with biannual payment of $204,750 for 20 years, and a maturity date of
April 27, 2035. Loan closed March 5, 2015.
5,118,755
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.
4,680,656
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. 81,644
$ 9,974,645
Less current portion 852,545
Noncurrent portion $ 9,122,100
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 2022.
Available Principal
$ 323,487 $ 8,176,513
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: Net Premium Principal Total
Water Revenue Bond $ 29,421 $ 605,000 $ 634,421
29,421 605,000 634,421
Less current portion 7,355 145,000 152,355
Noncurrent portion $ 22.066 —L --:L60 .000 —L--482 .066
Bond premiums, net amortization totaled $29,421. 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:
Less current portion
Noncurrent portion
Due To/Due From
$ 496,606
96,067
$ 400,539
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
Page 44
Due to Due to
$ 3,473,571 $
3,473,571
$ 3,473,571 $ 3,473,571
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 12 OF 16)
NOTE 11 - Long-term Debt and Accrued Compensation (Continued)
Annual Debt Service Requirements for leases, bonds and notes payable
Year Ending
Governmental Activities Business -type
Activities
September 30
Principal Interest Principal
Interest
2023
$ $ $ 1,903,658
$ 41,796
2024
1,908,974
33,288
2025
1,933,311
23,185
2026
1,907,087
12,732
2027
1,603,408
1,382
2028-2032
7,225,629
-
2033-2035
2,851,606
-
Compensated absences
$ $ $ 19,333,673
$ 112,383
Changes in long-term liabilities
Long-term liability activity for the year was as follows
NOTE 12- Conduit Debt Obligations
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.
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, buildings, 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 recognized 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 recognized a satisfaction of a receivable of $16,051,030 from the CIAWWCA.
Page 45
Beginning
Ending
Due within
Balance
Additions
Reductions
Balance
one year
Governmental activities
Compensated absences
$ 464,430
$
533,998
$
535,531
$ 462,897
$
92,579
$ 464,430
$
533,998
$
535,531
$ 462,897
$
92,579
Long-term portion
$
370,318
Beginning
Ending
Due within
Balance
Additions
Reductions
Balance
one year
Business -type activities
Bonds payable
$ 745,000
$
$
140,000
$ 605,000
$
145,000
Notes payable
19,903,088
1,174,415
18,728,673
970,823
Compensated absences
162,781
205,324
227,038
141,067
28,214
$ 20,810,869
$
205,324
$
1,541,453
$ 19,474,740
$
1,144,037
Long-term portion
$ 18,330,703
NOTE 12- Conduit Debt Obligations
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.
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, buildings, 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 recognized 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 recognized a satisfaction of a receivable of $16,051,030 from the CIAWWCA.
Page 45
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 13 OF 16)
NOTE 14- Stewardship, Compliance and Accountability
A. Deficit Fund Balance
At September 30, 2022, the City had a deficit fund balance in the amount of $2,310,284 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 a cost-sharing multiple -employer defined benefit pension plan administered by Public
Employee Retirement System of Idaho (PERSI or System) that covers substantially all employees of the State of Idaho, its agencies
and various participating political subdivisions. The cost to administer the plan is financed through the contributions and investment
earnings of the plan. PERSI issues a publicly available financial report that includes financial statements and the required
supplementary information for PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov.
Responsibility for administration of the Base Plan is assigned to the Board comprised of five members appointed by the Governor
and confirmed by the Idaho Senate. State law requires that two members of the Board be active Base Plan members with at least
ten years of service and three members who are Idaho citizens not members of the Base Plan except by reason of having served on
the Board.
Pension Benefits:
The Base Plan provides retirement, disability, death and survivor benefits of eligible members or beneficiaries. Benefits are based
on members' years of service, age, and highest average salary. Members become fully vested in their retirement benefits with five
years of credited service (5 months for elected or appointed officials). Members are eligible for retirement benefits upon attainment
of the ages specified for their employment classification. The annual service retirement allowance for each month of credited
service is 2.0% (2.3% for police/firefighters) of the average monthly salary for the highest consecutive 42 months.
The benefit payments for the Base Plan are calculated using a benefit formula adopted by the Idaho Legislature. The Base Plan is
required to provide a 1% minimum cost of living increase per year provided the Consumer Price Index increases 1% or more. The
PERSI Board has the authority to provide higher cost of living increases to a maximum of the Consumer Price Index movement or
6%, whichever is less; however, any amount above the 1% minimum is subject to review by the Idaho Legislature.
Member and Employer Contributions:
Member and employer contributions paid to the Base Plan are set by statute and are established as a percent of covered
compensation. Contribution rates are determined by the PERSI Board within limitations, as defined by state law. The Board may
make periodic changes to employer and employee contribution rates (expressed as percentages of annual covered payroll) that are
adequate to accumulate sufficient assets to pay benefits when due.
The contribution rates for employees are set by stature at 60% of the employer rate for general employees and 74% for police and
firefighters. As of June 30, 2022 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 $758,759 for the year ended September 30, 2022.
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions:
At September 30,2022, the City reported a liability for its proportionate share of the net pension liability. The net pension liability was
measured as of June 30, 2022, 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, 2022, the
City's proportion was .1611476 percent.
Page 46
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 14 OF 16)
NOTE 15 - Pension Plan (Continued)
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions: (continued)
For the year ended September 30, 2022, the City recognized pension expense (revenue) of $1,645,367. At September 30, 2022, the
City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
$172,626 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, 2022.
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, 2022 the beginning of the measurement period ended June 30, 2021 is 4.6 and 4.6
for the measurement period June 30, 2022.
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, 2022:
2023
Deferred
Deferred
821,609
Outflows of
Inflows of
2026
Resources
Resources
Differences between expected and actual experience
$ 697,962
$ 28,330
Changes in assumptions or other inputs
1,034,786
-
Net difference between projected and actual earnings on pension plan investments
-
-
Changes in the employer's proportion and differences between the employers contributions and
the employer's proportionate contributions
1,465,580
45,893
City contributions subsequent to the measurement date
172,626
-
$ 3,370,954
$ 74,223
$172,626 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, 2022.
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, 2022 the beginning of the measurement period ended June 30, 2021 is 4.6 and 4.6
for the measurement period June 30, 2022.
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, 2022:
2023
$ 756,828
2024
821,609
2025
379,993
2026
1,165,675
Actuarial Assumptions:
Valuations are based on actuarial assumptions, the benefit formulas, and employee groups. Level percentages of payroll normal
costs are determined using the Entry Age Normal Cost Method. Under the Entry Age Normal Cost Method, the actuarial present
value of the projected benefits of each individual included in the actuarial valuation is allocated as a level percentage of each year's
earnings of the individual between entry age and assumed exit age. The Base Plan amortizes any unfunded actuarial accrued
liability based on a level percentage of payroll. The maximum amortization period for the Base Plan permitted under Section 59-
1322, Idaho Code, is 25 years.
The total pension liability in the June 30, 2022 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
3.05%
Investment rate of return
6.35%, net of investment expenses
Cost -of -living adjustments
1%
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, 2022 is based on the results of an actuarial
valuation date July 1,2022.
Page 47
NOTE 15
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 15 OF 16)
Pension Plan (Continued)
Actuarial Assumptions: (continued)
Contributing Members, Service Retirement Members, and Beneficiaries (continued)
The long-term expected rate of return on pension plan investments was determined using the building block approach and a forward-
looking model in which best estimate ranges of expected future real rates of return (expected returns, net of pension plan investment
expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected
rate of return by weighing the expected future real rates of return by the target asset allocation percentage and by adding expected
inflation.
Even though history provides a valuable perspective for setting the investment return assumption, the System relies primarily on an
approach which builds upon the latest capital market assumptions. Specifically, the System uses consultants, investment managers
and trustees to develop capital market assumptions in analyzing the System's asset allocation. The assumptions and the System's
formal policy for asset allocation are shown below. The formal asset allocation policy is somewhat more conservative than the
current allocation of System's assets.
The best -estimate range for the long-term expected rate of return is determined by adding expected inflation to expected long-term
real returns and reflecting expected volatility and correlation. The capital market assumptions are as of 2022.
Asset Class DB Plans Sick Leave
Fixed Income 30.0% 50.0%
US/Global Equity 55.0% 39.3%
International Equity 15.0% 10.7%
Cash 0.0% 0.0%
Total 100.0% 100.0%
Discount Rate:
The discount rate used to measure the total pension liability was 7.05%. The projection of cash flows used to determine the discount
rate assumed that contributions from plan members will be made at the current contribution rate. Based on these assumptions, the
pension plans' net position was projected to be available to make all projected future benefit payments of current plan members.
Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit
payments to determine the total pension liability. The long-term expected rate of return was determined net of pension plan
investment expense but without reduction for pension plan administrative expense.
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:
Current
1% Decrease Discount Rate 1% Increase
5.35% 6.35% 7.35%
Employer's proportionate share of the net pension liability (asset) 11,35%,11 6,347,214 2,373,525
Pension plan fiduciary net position:
Detailed information about the pension plan's fiduciary net position is available in the separately issued PERSI financial report.
PERSI issues a publicly available financial report that includes financial statements and the required supplementary information for
PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov.
Payables to the pension plan:
At September 30, 2022, 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.
Page 48
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 16 OF 16)
NOTE 16 - 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 $803,735 for 2022.
Coverage from a private insurance company is maintained for individual claims in excess of $50,000 and for total claims in excess of
the aggregate attachment point.. 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
claims and expenses. The claims liability of $93,540 reported as incurred but not reported in the Health Plan Trust is based on the
requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if
information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date
of the financial statements and the amount of the loss can be reasonably estimated.
NOTE 17 - Subsequent Events
Subsequent events were evaluated up to March 28, 2023, the date the financial statements were available to be issued.
Page 49
REQUIRED SUPPLEMENTARY INFORMATION
c
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2022
51
Budgeted Amounts
Variance
Actual
Positive
Original
Final
Amounts
(Negative)
Resources
Property taxes
$ 5,744,550
$ 5,744,550
$ 6,095,966
$ 351,416
Franchise fees
-
-
254,956
254,956
Intergovernmental income
1,660,745
1,660,745
2,009,264
348,519
Court revenue
28,549
28,549
Parks revenue
19,500
19,500
13,133
(6,367)
Licenses, permits and fines
42,500
42,500
368,406
325,906
Grants
30,000
30,000
516,533
486,533
Fire protection and prevention
8,750
8,750
23,963
15,213
Law enforcement
-
-
10,433
10,433
Leases and rents
75,000
75,000
129,209
54,209
Interest income
125,000
125,000
118,175
(6,825)
Donations
-
-
518,427
518,427
Charges for services
-
-
2,700
2,700
Other resources
257,500
257,500
14,844
(242,656)
Amounts available for appropriations
7,963,545
7,963,545
10,104,558
2,141,013
Charges to appropriations
General government
606,095
606,095
914,597
(308,502)
Law enforcement
4,216,000
4,216,000
3,646,501
569,499
Fire control
1,952,000
1,952,000
1,859,209
92,791
Parks and recreation
370,100
370,100
727,783
(357,683)
Community services
745,350
745,350
593,428
151,922
Capital outlays
74,000
74,000
5,449,148
(5,375,148)
Lease capital outlays
-
-
141,108
(141,108)
Debt service
-
Principle retirement and lease finance
-
-
25,648
(25,648)
Interest expense
-
-
177
(177)
Total charges to appropriations
7,963,545
7,963,545
13,357,599
(5,394,054)
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
-
-
(3,253,041)
(3,253,041)
Other Financing Sources
Proceeds from certificate of participation
-
-
3,573,335
3,573,335
Proceeds from Leases
-
-
141,108
141,108
Proceeds from sale of assets
-
-79,272
79,272
-
-
3,793,715
3,793,715
NET CHANGE IN FUND BALANCE
-
-
540,674
540,674
BEGINNING FUND BALANCE
-
-
2,912,732
2,912,732
ENDING FUND BALANCE
$ -
$ -
$ 3,453,406
$ 3,453,406
51
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
HIGHWAY, STREETS AND ROADS
YEAR ENDED SEPTEMBER 30, 2022
Resources
Property taxes
Intergovernmental
Highway user's revenue
Grant revenue
Road and bridge
Interest Income
Other revenues
Amounts available for appropriations
Charges to appropriations
Highway Streets amd Roads
Salaries and personnel benefits
Supplies
Utilities
Building maintenance
Professional services
Street signing and marking
Street construction and maintenance
Equipment maintenance
Capital outlays
Miscellaneous expenses
Debt Service
Principle retirement and lease finance
interest expense
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
Budgeted Amounts
Variance
Actual
Positive
Original
Final
Amounts
(Negative)
$ 927,000
$ 927,000
$ 944,984
$ 17,984
$ 1,214,168
$ 1,214,168
450,000
450,000
-
$ (450,000)
163,000
163,000
-
$ (163,000)
10,444
$ 10,444
337,000
337,000
4,290
$ (332,710)
1,877,000
1,877,000
2,173,886
296,886
-
-
1,618,017
(1,618,017)
801,150
801,150
-
801,150
7,500
7,500
-
7,500
15,500
15,500
-
15,500
10,000
10,000
-
10,000
25,000
25,000
-
25,000
61,000
61,000
-
61,000
459,000
459,000
-
459,000
57,000
57,000
-
57,000
415,850
415,850
583,568
(167,718)
25,000
25,000
-
25,000
-
-
3,474
(3,474)
1,877,000
1,877,000
2,205,059
(328,059)
(31,173) (31,173)
- - 93,354 93,354
93,354 93,354
62,181 62,181
BEGINNING FUND BALANCE - - (2,372,465) (2,372,465)
ENDING FUND BALANCE $ - - $(2,310,284) $(2,310,284)
52
CITY OF CHUBBUCK, IDAHO
Schedule of Employer's Share of Net Pension Liability
PERSI - Base Plan
Last 10 - Fiscal Years*
2022 2021 2020 2019 2018 2017 2016 2015
Employer's portion of the net pension liability
(asset) 0.001611476 0.001644693 0.001641301 0.001625296 0.001606905 0.001542148 0.00145924 0.001459012
Employer's proportionate share of the net pension
liability (asset) $ 6,347,214 $ (129,895) $ 3,811,318 $ 1,855,230 $ 2,370,213 $ 2,423,992 $ 2,958,104 $ 1,921,281
Employer's covered -employee payroll $ 6,327,525 $ 6,112,874 $ 5,820,108 $ 5,496,835 $ 5,142,733 $ 4,764,551 $ 4,225,127 $ 4,072,262
Employer's proportional share of the net pension
liability as a percentage of its covered -employee
payroll 100.31% -2.12% 65.49% 33.75% 46.09% 50.88% 70.01% 47.18%
Plan fiduciary net position as a percentage of the
total pension liability 83.09% 100.36% 88.22% 93.79% 91.69% 90.68% 87.26% 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, 2022
53
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, 2022.
54
CITY OF CHUBBUCK, IDAHO
Schedule of Employer Contributions
PERSI — Base Plan
Last 10 — Fiscal Years
2022
2021 2020 2019
2018
2017
2016
2015
Statutorily required contribution
$ 765,724
$
741,954 $ 709,029 $ 643,275
$ 594,166
$
545,551
$
503,931
$ 469,058
Contributions in relation to the statutorily
required contribution
$ 765,724
$
741,954 $ 709,029 $ 643,275
$ 594,166
$
545,551
$
503,931
$ 469,058
Contribution (deficiency) excess
$ -
$
- $ - $ -
$ -
$
-
$
-
$ -
Employer's covered -employee payroll
6,254,019
$
6,154,443 $ 6,009,444 $ 5,597,869
$ 5,318,395
$
4,568,504
$
4,536,572
$ 4,225,217
Contributions as a percentage of covered -
employee payroll
12.24%
12.06% 11.80% 11.49%
11.17%
11.94%
11.11%
11.10%
GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10 -year trend is compiled, the City will present information for
those years for which information is available.
Data is reported as a measurement of September 30, 2022.
54
CITY OF CHUBBUCK, IDAHO
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
NOTE 1 - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Basis of Budgetary Accounting
The City is required by State law to adopt annual budgets on all governmental funds that cover a period
from October 1, through September 30. All adopted budgets are prepared in accordance with the
modified accrual basis of accounting and are adopted on a basis consistent with generally accepted
accounting principles.
B. Budgetary Information
GENERAL FUND
General government
The City had expenditures in excess of budget of $3,253,041 in the general government due to an
increase of general expenditures for the expansion and remodel of office space. The City received
$3,573,335 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 $31,173 due to an increase of expenditures related to
and capital outlays. The City received $93,354 in proceeds from Certificates of Participation to cover the
expenditures over budget.
55
OTHER SUPPLEMENTARY INFORMATION
Q:
CITY OF CHUBBUCK, IDAHO
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2022
57
Special Revenue
Law
Street
Juvenile
Road
Total
Fire Control
Enforcement
Park
Guarantee
Referral
Court
Projects
Parks
Nonmajor
Impact Fees
Impact Fees
Impact Fees
Fund
Fund
Fund
Fund
Fund
Funds
ASSETS
Cash
$ 151,068
$ 125,832
$ 596,824
$ 212,341
$ 1,239
$ 131,578 $
169,659
$ 377,179
$ 1,765,720
FUND BALANCES
Committed, reported in:
Special revenue fund
$ 151,068
$ 125,832
$ 596,824
$ 212,341
$ 1,239
$ 131,578 $
169,659
$ 377,179
$ 1,765,720
57
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
58
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
$ 248
$ 207
$ 914
$ 471
$ 7
$ 267
$ 319
$ 719
$ 3,152
Other revenues
50,786
38,240
321,200
20,400
-
-
430,626
51,034
38,447
322,114
471
7
20,667
319
719
433,778
EXPENDITURES
Other purchased services
-
-
-
192,384
3,874
38,614
-
-
234,872
-
-
-
192,384
3,874
38,614
-
234,872
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
51,034
38,447
322,114
(191,913)
(3,867)
(17,947)
319
719
198,906
OTHER FINANCING SOURCES
Transfers in (out)
-
-
-
-
-
-
-
NET CHANGE IN FUND BALANCES
51,034
38,447
322,114
(191,913)
(3,867)
(17,947)
319
719
198,906
BEGINNING FUND BALANCE
100,034
87,385
274,710
404,254
5,106
149,525
169,340
376,460
1,566,814
ENDING FUND BALANCE
$ 151,068
$ 125,832
$ 596,824
$ 212,341
$ 1,239
$ 131,578
$ 169,659
$ 377,179
$ 1,765,720
58
LIABILITIES
Current Liabilities
Accounts payable 17,604 - 17,604 17,604
17,604 - 17,604 17,604
Noncurrent Liabilities
17,604 - 17,604 17,604
NET POSITION
Net investment in capital assets 4,938 - 4,938 6,225
Unrestricted - 346,779 346,779 317,145
$ 4,938 $ 346,779 $ 351,717 $ 323,370
59
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2022
WITH COMPARATIVE TOTALS AS OF SEPTEMBER
30, 2021
Employee
Central Health
Garage Benefit
2022
2021
Fund Fund
Totals
Totals
ASSETS
Current assets
Cash and cash equivalents
$ - $ 346,779
$ 346,779
$346,128
Accounts receivable
17,604 -
17,604
17,604 346,779
364,383
346,128
Noncurrent assets
Restricted assets
Capital assets
261,085 -
261,085
261,085
Accumulated depreciation
(256,147) -
(256,147)
(254,860)
4,938 -
4,938
6,225
22,542 346,779
369,321
352,353
LIABILITIES
Current Liabilities
Accounts payable 17,604 - 17,604 17,604
17,604 - 17,604 17,604
Noncurrent Liabilities
17,604 - 17,604 17,604
NET POSITION
Net investment in capital assets 4,938 - 4,938 6,225
Unrestricted - 346,779 346,779 317,145
$ 4,938 $ 346,779 $ 351,717 $ 323,370
59
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2021
OPERATING REVENUES
Interest earnings
Service revenue
OPERATING EXPENSES
Administration
Personnel benefits
Repairs and maintenance
Equipment and supplies
Travel, meetings, and training
Fuels and lubricants
Utilities
Depreciation
OPERATING INCOME (LOSS)
CHANGES IN NET POSITION
BEGINNING NET POSITION
ENDING NET POSITION
Central
Garage
Employee
Health
Benefit 2022 2021
$ -
$ 651
$ 651
$455
331,798
-
331,798
360,800
331,798
651
332,449
361,255
-
-
-
69
-
-
-
5,534
13,766
-
13,766
19,046
276,413
-
276,413
332,853
48
-
48
3,182
2,610
-
2,610
1,236
9,978
-
9,978
6,528
1,287
-
1,287
1,287
304,102
-
304,102
369,735
27,696
651
28,347
(8,480)
27,696
651
28,347
(8,480)
(22,758)
346,128
323,370
331,850
$ 4,938
$ 346,779
$ 351,717
$ 323,370
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2022
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2021
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:
651 651 386
346,128 346,128 345,742
$ - $ 346,779 $ 346,779 $ 346,128
Cash and cash equivalents $ - $ 346,779 $ 346,779 $346,128
Cash and cash equivalents - Restricted - - - -
$ - $ 346,779 $ 346,779 $ 346,128
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
OPERATING INCOME (LOSS)
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation
(Increase) decrease in assets
Accounts receivable
Increase (decrease) in liabilities
Accounts payable
Total adjustments
NET CASH PROVIDED BY OPERATING ACTIVITIES
61
Employee
Central Health
Garage Benefit
Fund Fund 2022 2021
$ 27,696 $ 651 $ 28,347 $ (8,480)
1,287 - 1,287 1,287
(17,604) - (17,604) -
(11,379) - (11,379) 7,579
(27,696) - (27,696) 8,866
$ - $ 651 $ 651 $ 386
Employee
Central
Health
Garage
Benefit
Fund
Fund
2022
2021
$ 314,194
$ 651
$ 314,845
$ 361,255
(314,194)
-
(314,194)
(355,335)
-
-
-
(5,534)
-
651
651
386
651 651 386
346,128 346,128 345,742
$ - $ 346,779 $ 346,779 $ 346,128
Cash and cash equivalents $ - $ 346,779 $ 346,779 $346,128
Cash and cash equivalents - Restricted - - - -
$ - $ 346,779 $ 346,779 $ 346,128
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
OPERATING INCOME (LOSS)
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation
(Increase) decrease in assets
Accounts receivable
Increase (decrease) in liabilities
Accounts payable
Total adjustments
NET CASH PROVIDED BY OPERATING ACTIVITIES
61
Employee
Central Health
Garage Benefit
Fund Fund 2022 2021
$ 27,696 $ 651 $ 28,347 $ (8,480)
1,287 - 1,287 1,287
(17,604) - (17,604) -
(11,379) - (11,379) 7,579
(27,696) - (27,696) 8,866
$ - $ 651 $ 651 $ 386
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2022
Budgeted Amounts
Variance
Actual
Positive
Original Final
Amounts
(Negative)
Resources
Property taxes $ - $ -
$ -
$ -
Interest income - -
3,152
3,152
Donations - -
-
-
Other resources - -430,626
430,626
Amounts available for appropriations - -
433,778
433,778
Charges to appropriations
Street guarantee fund - -
192,384
(192,384)
Juvenile referral fund - -
3,874
(3,874)
Court fund - -
38,614
(38,614)
Road projects fund - -
-
-
Parks fund - --
-
Total charges to appropriations - -
234,872
(234,872)
NET CHANGE IN FUND BALANCE - -
198,906
198,906
BEGINNING FUND BALANCE - -
1,566,814
1,566,814
ENDING FUND BALANCE $ - $ -
$ 1,765,720
$ 1,765,720
G!
STATISTICAL SECTION
63
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 65-72
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 73-76
These schedulers contain information to help the reader assess
the City's most significant local revenue source, the property tax.
Debt Capacity 77-78
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 79-80
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.
64
City of Chubbuck
Net Position By Components
Last Ten Fiscal Years
(Accrual -Basis Accounting)
65
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Governmental activities:
Invested in capital assets, net of related debt
$
10,153,123
$
11,396,599
$
10,137,975
$
11,138,839
$
16,829,117
$
24,019,218
$
26,473,293
$ 28,622,260
$ 32,641,830
$
42,901,054
Restricted
-
-
-
-
-
-
-
-
-
-
Unrestricted
3,592,593
4,130,936
4,532,072
6,181,447
3,212,484
547,753
(381,048)
(1,695,666)
(1,091,874)
(4,373,190)
Total governmental activities net position
$
13,745,716
$
15,527,535
$
14,670,047
$
17,320,286
$
20,041,601
$
24,566,971
$
26,092,245
$ 26,926,594
$ 31,549,956
$
38,527,864
Business -type activities
Invested in capital assets, net of related debt
$
5,460,743
$
6,091,493
$
6,086,514
$
6,814,991
$
9,217,942
$
11,612,979
$
11,876,681
$ 16,363,939
$ 41,932,621
$
43,392,235
Restricted
165,781
167,481
165,181
166,731
168,131
164,850
166,100
167,200
168,150
168,950
Unrestricted
14,006,605
16,145,285
18,460,974
21,272,113
22,001,056
21,704,355
25,076,744
24,496,821
5,378,964
7,687,826
Total business -type activities net position
$
19,633,129
$
22,404,259
$
24,712,669
$
28,253,835
$
31,387,129
$
33,482,184
$
37,119,525
$ 41,027,960
$ 47,479,735
$
51,249,011
Primary government
Net investment in capital assets
$
15,613,866
$
17,488,092
$
16,224,489
$
17,953,830
$
26,047,059
$
35,632,197
$
38,349,974
$ 44,986,199
$ 74,574,451
$
86,293,289
Restricted
165,781
167,481
165,181
166,731
168,131
164,850
166,100
167,200
168,150
168,950
Unrestricted
17,599,198
20,276,221
22,993,046
27,453,560
25,213,540
22,252,108
24,695,696
22,801,155
4,287,090
3,314,636
Total primary government net position
$
33,378,845
$
37,931,794
$
39,382,716
$
45,574,121
$
51,428,730
$
58,049,155
$
63,211,770
$ 67,954,554
$ 79,029,691
$
89,776,875
65
66
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2013
2015 2016
2014
2017
2018
2019
2020
2021
2022
Expenses
Governmental activities:
General Government
$ 352,910
$ 443,813
$ 542,494 $ 896,297 $
880,217
$ 862,299
$ 836,698
$ 1,537,463
$ 1,348,508
$ 1,153,148
Law enforcement
2,782,655
2,771,003
2,868,345 3,188,507
3,310,717
3,447,266
3,492,557
3,896,661
3,288,219
3,922,815
Fire Control
1,313,575
1,335,240
1,519,108 1,360,246
1,307,106
1,417,951
1,556,572
1,939,749
1,802,233
2,166,198
Building Inspection
163,631
172,439
172,946 199,277
199,336
217,171
246,220
28,004
371,732
-
Street
1,122,746
1,450,965
1,524,819 1,487,702
1,426,385
1,293,629
1,210,550
2,042,497
1,764,251
2,121,982
Parks & Recreation
494,692
484,041
529,372 591,638
601,054
653,878
623,328
636,713
802,354
879,101
Health and welfare
39,552
51,165
41,171 76,884
83,293
90,621
80,049
88,129
91,539
630,746
Other special funds
5,150
350
- 20,196
150
1,600
17,100
43,181
4,425
234,872
CIAWWC Authority
4,574
2,930
2,930 609,036
609,036
-
-
-
-
-
Total governmental activities expenses
6,279,485
6,711,946
7,201,185 8,429,783
8,417,294
7,984,416
8,063,075
10,212,397
9,473,261
11,108,862
Business -type activities:
Water
1,466,297
1,560,406
1,781,501 1,793,535
1,726,443
2,111,162
2,028,807
2,440,008
2,742,104
3,494,695
Sewer
2,072,020
1,709,310
2,200,476 2,319,135
2,363,009
2,649,245
2,705,251
3,174,444
2,868,693
3,707,757
Sanitation
1,116,071
1,219,283
1,060,218 1,221,934
1,637,470
1,732,030
1,626,740
1,916,682
1,969,580
2,460,458
Health Plan Trust
-
-
- -
-
-
-
-
1,346,956
1,646,714
CIAWWC Authority
609,036
609,036
609,063
306,104
3,800
Total business -type activities program expenses
4,654,388
4,488,999
5,042,195 5,334,604
5,726,922
7,101,473
6,969,834
8,140,197
9,233,437
11,313,424
Total primary government program expenses
10,933,873
11,200,945
12,243,380 13,764,387
14,144,216
15,085,889
15,032,909
18,352,594
18,706,698
22,422,286
66
Program Revenues
Governmental activities:
Charges for services:
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
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
203,578
134,555
298,505
365,049
414,674
323,186
399,415
342,244
379,116
497,615
-
-
35,311
28,918
31,942
29,940
34,221
28,081
27,335
38,982
191,317
232,992
197,261
211,041
214,172
237,675
176,925
61,832
5,009
23,963
-
-
-
-
-
13,165
17,468
1,292
8,493
-
4,955
7,203
9,762
10,589
12,728
149,681
14,758
6,125
16,889
15,833
-
-
-
-
10,980
-
-
-
-
-
128,818
33,200
48,000
43,890
71,329
84,653
179,095
652,897
2,345,551
1,034,960
-
-
916,767
2,667,268
2,354,109
3,644,635
1,019,354
1,253,033
2,253,204
5,322,013
528,668
407,950
1,505,606
3,326,755
3,109,934
4,482,935
1,841,236
2,345,504
5,035,597
6,933,366
2,582,932
2,422,542
2,680,920
2,783,945
2,728,684
2,896,320
2,983,977
2,944,986
3,167,282
3,256,843
3,182,335
3,093,116
3,583,861
3,657,738
3,803,714
3,979,134
4,229,957
4,163,168
4,403,367
4,749,986
1,649,604
1,727,680
1,731,740
2,169,627
2,192,420
1,978,239
1,930,472
1,952,196
2,044,405
2,223,905
-
-
-
-
-
-
-
-
1,484,058
1,714,040
-
-
66,915
21,960
95,330
54,900
-
11,328
134,662
93,730
-
-
-
-
-
-
-
-
-
228,000
1,045,754
2,785,144
3,228,076
3,285,586
7,414,871
7,243,338
8,007,849
8,611,310
8,859,480
9,242,338
10,212,120
11,940,824
14,382,088
15,230,360
7,943,539
7,651,288
9,513,455
11,938,065
11,969,414
13,725,273
12,053,356
14,286,328
19,417,685
22,163,726
Net(Expense)/Revenue
Governmental activities (5,750,817) (6,303,996) (5,695,579) (5,103,028) (5,307,360) (3,501,480) (6,221,839) (7,866,893) (4,437,664) (4,175,496)
Business -type activities 2,760,483 2,754,339 2,965,654 3,276,706 3,132,558 2,140,865 3,242,286 3,800,627 5,148,651 3,916,936
Total primary governmental net (expense)/revenue (2,990,334) (3,549,657) (2,729,925) (1,826,322) (2,174,802) (1,360,615) (2,979,553) (4,066,266) 710,987 (258,560)
67
General Revenues and other Changes in Net Position
Governmental activities:
General Property taxes and sales tax
Franchise fees
Intergovernmental
Leases and rents
Interest income
Proceeds from sale of assets
Gain on sale of assets
Capital contributions
Other revenue
Transfers in (out)
CIAWWC Authority
Total governmental activities
Business -type activities:
Interest income
Capital contributions
Gain on sale of assets
Other revenue
Transfers in (out)
Total business -type activities
Total primary government
Changes in Net Position
Governmental Activities
Business -type activities
Total primary government
68
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2013
2014
2015 2016
2017
2018
2019
2020
2021
2022
4,982,426
5,292,450
5,296,480 5,366,613
5,642,004
5,975,483
6,499,369
7,123,630
4,790,711
7,001,435
192,151
203,790
198,493 199,194
201,328
203,950
189,494
186,818
195,483
254,956
955,679
903,149
1,021,666 1,311,704
1,323,581
1,373,948
1,403,606
1,187,121
3,241,504
3,223,432
90,843
66,152
- -
-
-
-
-
-
-
60,367
60,651
76,828 90,432
98,064
157,760
182,445
160,617
97,869
131,771
-
11,154
-
-
-
-
34,788
-
18,038 19,282
-
54,759
78
6,345
-
79,272
2,254,771
1,286,887
- -
-
-
-
-
-
-
89,066
14,366
41,828 766,042
763,697
199,888
186,953
36,711
735,459
462,538
-
(3,000)
- -
-
-
(534,080)
-
-
-
228,000
228,000
- -
-
-
-
-
-
-
8,888,091
8,063,599
6,653,333 7,753,267
8,028,674
7,965,788
7,927,865
8,701,242
9,061,026
11,153,404
644
574
- -
-
4,000
106,283
105,808
24,178
(159,885)
261,081
13,217
- -
-
-
-
-
-
2,400
-
2,530 86,100
736
11,252
-
2,000
800,418
7,626
-
-
- -
-
-
-
-
-
4,599
3,000
100
534,080
-
264,125
16,791
2,630 86,100
736
15,252
640,363
107,808
824,596
(147,660)
9,152,216
8,080,390
6,655,963 7,839,367
8,029,410
7,981,040
8,568,228
8,809,050
9,885,622
11,005,744
3,137,274
1,759,603
957,754 2,650,239
2,721,314
4,464,308
1,706,026
834,349
4,623,362
6,977,908
3,024,608
2,771,130
2,968,284 3,362,806
3,133,294
2,156,117
3,882,649
3,908,435
5,973,247
3,769,276
$ 6,161,882
$ 4,530,733
$ 3,926,038 $ 6,013,045 $
5,854,608
$ 6,620,425
$ 5,588,675
$ 4,742,784
$ 10,596,609
$ 10,747,184
68
69
City of Chubbuck
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
2013
2015 2016 2017
2014
2018
2019
2020
2021
2022
General fund
Unassigned
$ 2,708,737
$ 2,933,821
$ 2,952,093 $ 3,410,321 $ 3,939,114 $
1,239,050
$ 107,771
$ (589,351)
$ 540,267
$ 1,143,122
Total General Fund
2,708,737
2,933,821
2,952,093 3,410,321 3,939,114
1,239,050
107,771
(589,351)
540,267
1,143,122
All Other Governmental Funds
Committed
490,894
511,696
554,175 565,911 453,040
516,555
658,913
910,503
1,566,814
1,765,720
Total all other governmental funds
$ 490,894
$ 511,696
$ 554,175 $ 565,911 $ 453,040 $
516,555
$ 658,913
$ 910,503
$ 1,566,814
$ 1,765,720
69
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
70
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Revenues:
Property taxes and sales tax
$ 4,984,949
$ 5,295,493
$ 5,349,772
$ 5,375,566
$ 5,627,360
$ 5,930,753
$ 6,405,974
$ 7,131,017
$ 4,895,548
$ 7,040,950
Franchise fees
192,151
203,790
198,493
199,194
201,328
203,950
189,494
186,818
195,483
254,956
Intergovernmental
955,679
903,149
1,021,666
1,311,704
1,323,581
1,373,948
1,403,606
1,187,121
3,241,504
3,223,432
Court Revenue
-
-
35,311
28,918
31,942
29,940
34,221
28,081
27,335
28,549
Parks revenue
1,720
2,668
5,402
7,629
10,733
7,729
8,670
2,409
14,275
13,133
License, permits and fines
203,578
134,555
219,868
289,199
320,860
231,180
308,615
220,174
262,953
368,406
Grants
302,500
14,800
466,000
248,290
336,433
43,629
109,076
585,950
2,334,053
516,533
Fire protection and prevention
191,317
232,992
197,261
211,041
214,172
237,675
176,925
61,832
5,009
23,963
Law enforcement
-
-
-
-
-
-
-
-
-
10,433
Leases and rents
90,843
66,152
78,637
75,850
93,814
92,006
90,800
122,070
116,163
129,209
Interest income
60,367
60,651
76,828
90,432
98,064
157,760
182,445
160,617
97,869
131,771
Donations
54,318
18,400
38,000
23,600
40,149
41,024
70,019
66,947
11,498
518,427
Charges for services
3,235
4,535
4,360
2,960
12,975
155,117
23,556
5,008
11,107
2,700
Other revenues
89,066
14,366
41,827
19,063
65,897
86,449
184,022
249,999
720,616
449,760
Total Revenues
7,129,723
6,951,551
7,733,425
7,883,446
8,377,308
8,591,160
9,187,423
10,008,043
11,933,413
12,712,222
70
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
71
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Expenditures:
General government
326,399
393,539
483,135
574,204
496,074
580,806
621,568
1,303,835
1,072,664
914,597
Law enforcement
2,669,035
2,695,807
2,843,478
2,960,661
3,062,347
3,287,172
3,354,522
3,507,675
3,550,335
3,646,501
Fire control
1,211,430
1,234,101
1,431,180
1,213,866
1,181,308
1,300,583
1,463,484
1,652,703
1,738,732
1,859,209
Building inspection
163,631
172,439
174,432
181,199
186,059
212,747
244,749
8,913
395,491
-
Street
1,054,574
1,356,339
1,365,190
1,336,127
1,270,359
1,136,919
1,054,240
1,722,677
1,437,020
1,618,017
Parks and recreation
437,882
442,246
498,932
513,091
502,709
552,176
530,705
509,997
722,129
727,783
Community services
-
-
-
-
-
-
-
-
-
593,428
Health and welfare
39,552
51,165
41,171
76,884
83,293
90,621
80,049
88,129
91,539
-
Street guarantee fund
5,000
-
-
-
-
-
-
-
-
-
other purchased services
-
-
-
-
-
234,872
Court fund
150
350
1,500
150
1,600
-
-
-
-
Parks fund
-
-
-
18,696
-
-
17,100
43,181
4,425
-
Capital outlays
968,502
365,442
409,060
333,207
953,944
4,160,478
2,806,886
1,771,351
2,882,122
6,032,716
Lease capital outlays
-
-
-
-
-
-
-
-
-
141,108
Principal retirement and lease finance
-
Interest expense
-
-
-
-
-
25,648
CIAWWC Authority
4,574
2,930
458,930
230,930
2,930
3,651
Total Expenditures
6,880,729
6,714,358
7,705,508
7,440,365
7,739,173
11,323,102
10,173,303
10,608,461
11,894,457
15,797,530
Excess (deficiency) of Revenues over
(under) Expenditures
248,994
237,193
27,917
443,081
638,135
(2,731,942)
(985,880)
(600,418)
38,956
(3,085,308)
71
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
72
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Other financing sources (uses):
Proceeds from note payable
175,281
155,468
11,680
2,930
Principal payments on leases
-
-
-
-
Principal payments
(249,263)
(154,929)
(236,050)
-
-
141,108
Proceeds from certificate of participation
152,278
1,749,674
3,666,689
Interest expense
(5,330)
-
-
(4,000)
(3,869)
(3,737)
(3,605)
-
Proceeds from sale of assets
42,796
11,154
21,153
23,953
13,837
99,393
828
6,345
79,272
Transfers in (out)
-
(3,000)
-
-
-
-
-
-
-
Total other financing sources (uses)
(36,516)
8,693
32,833
26,883
(222,213)
95,393
(3,041)
154,886
1,746,069
3,887,069
Net Change in Fund Balances
212,478
245,886
60,750
469,964
415,922
(2,636,549)
(988,921)
(445,532)
1,785,025
801,761
Beginning Fund Balances
2,987,153
3,199,632
3,445,518
3,506,268
3,976,232
4,392,154
1,755,605
766,684
322,056
2,107,081
Ending Fund Balances
$ 3,199,632
$ 3,445,518
$ 3,506,268
$ 3,976,232
$ 4,392,154
$ 1,755,605
$ 766,684
$ 321,152
$ 2,107,081
$ 2,908,842
72
City of Chubbuck
General Government Tax and Intergovernmental Revenues by Source
Last Ten Fiscal Years
(modified accrual basis of accounting)
73
Local Tax Revenues
Intergovernmental Revenues
Total
Local Taxes as
Highway Streets
Highway User's
Intergovernmental
a Percentage
Fiscal Year
Property Tax
Franchise Tax
& Road
Sales Tax
Total Local Taxes
State Liquor Tax
Revenue
Court Revenue
Road & Bridge
Shared Sales Tax
Taxes
Total Taxes
of Total
2013
4,497,017
192,152
-
487,932
5,177,101
154,777
463,463
38,277
72,887
226,276
955,680
6,132,781
84%
2014
4,781,207
203,790
114,496
514,286
5,623,276
152,877
467,297
30,815
66,326
185,833
903,148
6,526,424
86%
2015
4,813,441
198,493
-
536,331
5,548,265
148,641
494,812
35,312
112,443
265,770
1,056,978
6,605,243
84%
2016
4,164,281
199,194
645,147
566,139
5,574,761
158,211
664,004
28,918
198,466
291,023
1,340,622
6,915,383
81%
2017
4,367,685
201,328
671,658
588,016
5,828,687
160,066
674,106
31,942
175,062
314,347
1,355,523
7,184,210
81%
2018
4,342,621
203,950
962,076
626,056
6,134,703
164,971
685,345
29,940
174,663
348,969
1,403,888
7,538,591
81%
2019
4,820,932
189,494
933,810
651,323
6,595,559
184,041
719,995
34,221
121,341
378,229
1,437,827
8,033,386
82%
2020
5,331,506
186,818
853,514
945,996
7,317,834
205,579
718,902
28,081
69,460
193,180
1,215,202
8,533,036
86%
2021
4,000,938
195,483
894,610
-
5,091,031
243,994
941,626
27,335
447,544
1,608,340
3,268,839
8,359,870
61%
2022
$ 5,995,113
$ 254,956
$ 944,984
$ 100,853
$ 7,295,906
$ 223,452
$ 1,043,079
$ 28,549
$ 171,088
$ 1,785,812
$ 3,251,980
$ 10,547,886
69%
73
City of Chubbuck
Assessed Valuation and Tax Rate
Last Ten Fiscal Years
Fiscal Year
Real and Personal Tax Roll
Utilities Tax Roll
Actual Sub Roll
Exemptions Home
Owner's
Exemptions Personal
Property
Total Assessed Actual Value
(including exemptions)
Levy Rate
Tax Rate Per $1,000
Value
2013
454,554,481
7,573,803
513,109
203,675,558
638,203
666,955,154
0.009969299
9.97
2014
459,147,628
7,502,193
1,138,795
236,839,910
-
704,628,526
0.009967676
9.97
2015
461,440,210
7,884,559
1,017,251
238,171,372
81,774
708,595,166
0.009933799
9.93
2016
475,051,058
7,702,297
1,697,797
251,008,396
81,774
735,541,322
0.010140122
10.14
2017
507,182,903
8,152,805
469,490
263,554,022
81,744
779,440,964
0.010188661
10.19
2018
524,061,262
8,420,799
2,493,034
275,948,575
-
810,923,670
0.010636971
10.64
2019
638,286,498
8,626,813
221,259
314,458,115
961,592,685
0.009459658
9.46
2020
728,136,576
9,592,530
4,293,710
342,427,509
1,084,450,325
0.006863105
6.86
2021
807,089,713
10,409,910
1,462,151
426,293,840
1,245,255,614
0.008121184
8.12
2022 *
$ 1,115,638,936
$ -
$ 12,122,961
$ 462,894,793 $
$ 1,590,656,690
0.006204404
$ 6.20
*Preliminary Assessment Values
Source: Bannock County Clerks Office
74
City of Chubbuck
Property Tax Rates
Direct and Overlapping (1) Governments
Last Ten Fiscal Years
(per $1,000 of assessed value)
Year
City of Chubbuck
Base Rates
Bannock County Rates
County Road &
Bridge Rates
Overlapping Rates
Abatement Rates
Portneuf Library Rates
Ambulance Service
Rates
School District 25
Rates
Combined Levy Rates
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
2.93
16.52
2022
$ 6.20
$ 3.23 $
0.31
$ 0.02
$ 0.37
$ 0.24
$ 1.87
$ 12.26
Source: Bannock County Assessors Office
(1) Overlapping rates are those of local and county governments that apply to owners within the City of Chubbuck.
rN7
City of Chubbuck
Principal Taxpayers
September 30, 2022
2022 I I 2013
*Estimated Assessment Values
Source: Bannock County Assessors Office
76
Percentage of
Assessed
Total Assessed
Percentage of Total
Taxpayer
Type of Business
Valuation
Rank
Valuation *
Assessed Valuation
Rank
Assessed Valuation
IDAHO CENTRAL CREDIT UNION
FINANCIAL INSTITUTE
$ 53,563,000
1
35.82%
$ 16,461,553
2
17.85%
PINE RIDGE MALL 1C LLC
RETAIL
17,470,000
2
11.68%
12,380,277
3
13.42%
SHJH LLC
APARTMENTS
15,577,000
3
10.42%
-
0.00%
POCATELLO/CHUBBUCK SCHOOL DISTRICT
EDUCATION
12,502,000
4
8.36%
-
0.00%
WAL MART REAL ESTATE
RETAIL
10,538,000
5
7.05%
9,709,957
5
10.53%
GRACE AT CHUBBUCK LLC
ASSISTED LIVING
10,347,000
6
6.92%
-
0.00%
RATLIFF, GARY
REAL ESTATE INVESTMENTS
8,187,000
7
5.48%
3,765,100.00
10
4.08%
AGREE LIMITED PARTNERSHIP
REAL ESTATE INVESTMENTS
8,153,000
8
5.45%
-
-
0.00%
CARMIKE CINEMAS INC.
ENTERTAINMENT
6,929,000
9
4.63%
6,062,766
7
6.57%
HD DEVELOPMENT OF MARYLAND INC
REAL ESTATE DEVELOPMENT
6,264,000
10
4.19%
7,105,536
6
7.70%
NEIBAUER CHUBBUCK HOLDINGS LLC
-
0.00%
16,531,284
1
17.92%
ALLSTATE INSURANCE COMPANY
INSURANCE
0.00%
10,774,930
4
11.68%
SHOPKO REAL ESTATE LLC
RETAIL
0.00%
5,204,568
8
5.64%
EMERITOL RIDGE WIND LLC
DATABASE
0.00%
4,242,947
9
4.60%
Total Top Ten
$ 149,530,000
100.00%
$ 92,238,918
100.00%
*Estimated Assessment Values
Source: Bannock County Assessors Office
76
City of Chubbuck
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(accrual basis of accounting)
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
77
Governmental
Activities
Business Type Activities
(1)
Fiscal
Sanitation
Water Notes
Sewer Note
Total Primary
Estimated
Per
Year
Capital Lease
Notes
Water Bond
DEQ
DEQ
Government
Population
Capita
2013
27,739
1,265,080
1,720,000
251,448
16,873,075
20,137,342
14,125
1,426
2014
-
1,130,594
1,610,000
234,833
16,436,562
19,411,989
14,125
1,374
2015
1,076,827
1,495,000
217,757
16,363,232
19,152,816
14,229
1,346
2016
998,848
1,380,000
200,381
15,297,931
17,877,160
14,517
1,231
2017
927,972
1,260,000
181,814
14,445,385
16,815,171
14,644
1,148
2018
847,636
1,135,000
2,746,190
13,592,841
18,321,667
14,869
1,232
2019
764,418
1,010,000
7,530,708
12,740,295
22,045,421
15,316
1,439
2020
678,292
880,000
8,077,582
11,679,735
21,315,609
15,715
1,356
2021
588,999
745,000
8,278,883
11,035,206
20,648,088
15,842
1,303
2022
496,606
605,000
8,257,422
9,974,645
19,333,673
16,032
1,206
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
77
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 Total
2012 2,411,854
1,222,469
1,189,385
100,000
60,068
2013 2,583,576
1,263,607
1,319,969
110,000
58,338
2014 2,423,116
1,351,349
1,071,767
110,000
56,574
2015 2,680,920
1,532,822
1,148,098
115,000
52,863
2016 2,783,945
1,535,492
1,248,453
115,000
55,514
2017 2,728,684
1,472,240
1,256,444
120,000
45,443
2018 2,896,320
1,832,479
1,063,841
125,000
34,175
2019 2,983,977
1,744,722
1,239,255
125,000
32,182
2020 2,944,986
1,959,268
985,718
130,000
28,420
2021 3,167,282
1,951,885
1,215,397
135,000
24,507
2022 3,256,843
2,323,718
933,125
140,000
20,445
(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.
78
Pledge of
Revenues
Coverage
Coverage Requirement (4)
160,068
7.43
5.94
168,338
7.84
6.27
166,574
6.43
5.15
167,863
6.84
5.47
170,514
7.32
5.86
165,443
7.59
6.08
159,175
6.68
5.35
157,182
7.88
6.31
158,420
6.22
4.98
159,507
7.62
6.10
160,445
5.82
4.65
City of Chubbuck
Statistical Information
Water Fund
September 30, 2022
Schedule of Water Revenue and Production For Residential,
Commercial, and Government Accounts
Total Revenue $ 3,256,843
Estimated number of active customers 4,810
Total water produced (gallons) 1,109,593
Schedule of Water Rates
Monthly Base Fee (by meter size)
Size Price Circuit Breaker
1" or less
$ 27.72
1.5 "
79.81
2"
123.53
3"
256.94
4"
421.11
6"
850.89
8"
1,332.59
10"
2,035.80
$ 19.40
Volumetric charge: $1.33 per 1,000 gallons metered water.
Volumetric charge for circuit breaker: $.94 per 1,000 gallons
metered water.
Water Usage Summary
Business
200,190
Car Wash
10,272
City Property
5,052
Church
13,896
County using city property
2,278
Duplex
13,213
Four Plex
29,229
Motel
10,101
Multiple Units
22,823
Unaccupied
13,090
Restaurant
12,137
School
102,778
Single Family
646,962
Three Plex
1,381
Trailer Park
26,191
1,109,593
79
CITY OF CHUBBUCK, IDAHO
Ten Largest Water System Customers
For The Fiscal Year Ended September 30, 2022
(per 1,000 gallon used)
Total Usage
1,109, 593 18.3%
% of Total
Water
Top Ten
% of Total
Customer
Business Type
Rank
Usage
Consumers
Usage
Pocatello/Chubbuck School District
Education
1
100,000
49.3%
9.0%
Pine Ridge Mall JC LLC
Shopping Center
2
42,362
20.9%
3.8%
Alta Project Services LLC
Construction Management
3
9,999
4.9%
0.9%
14814 Berkshire Ave.
Private Property
4
9,999
4.9%
0.9%
Circle Inn Trailer Park
Mobile Home Park
5
9,748
4.8%
0.9%
Seven Synergy LLC
Staffing Services
6
7,693
3.8%
0.7%
Pine Ridge Mall JC LLC
Shopping Center
7
6,018
3.0%
0.5%
Camelot Estate
Mobile Home Park
8
6,009
3.0%
0.5%
Travelodge
Motel
9
5,954
2.9%
0.5%
Pine Ridge Idaho LLC
Apartment Complex
10
5,007
2.5%
0.5%
Total Top Ten Consumers
202,789
100.0%
Total Usage
1,109, 593 18.3%
City of Chubbuck
Statistical Information
Sewer Fund
September 30, 2022
Schedule of Sewer Revenue For Residential, Commercial, and Government Accounts
Total Revenue
Schedule of Sewer Rates
Monthly Base Fee
Regular
Residential $ 51.08
NWSI Residential 10.45
$ 4,749,986
Circuit Breaker
$ 35.78
Commercial rate for businesses North of the Interstate is $7.22 per $1,000 gallons of water used.
Commercial rate for businesses South of the Interstate is $8.47 per $1,000 gallons of water used.
NWSI Commercial rate is winter water average usage divided by $6.85 and multiplied by $10.45.
81
Deaton &Company, Chartered BEHON
Certified Public Accountants
215 North F, Suite R
Pocatello, ID 83201-5278
(208)232-5825
Members "e- Idaho Society of Certified Pubk Accouatants
Members of theAmencan Institute of Certified Public Accountants
INDEPENDENT AUDITORS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standardsd issued by the
Comptroller General of the United States, the financial statements of the governmental activities, the business -
type activities, each major fund, and the aggregate remaining fund information of City of Chubbuck, as of and for
the year ended September 30, 2022, 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,
2023.
Internal Control Over Financial Re
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, 2023
Continuing Disclosure Details
Filing Type: FINANCIAL/OPERATING FILING (CUSIP-9 Basei
Rule 1Sc2-12 Disclasure Obligor%Contact Infarmation
Audited Financial Statements or ACFR for the year ended 09/3012022 Company: City of Chubbuck
Posted Date: 03/28/2023 Name: Dan Christensen
Associated CUSIPs:4 Address:
City, State, Zip:
Phone Number.
Email:
dchnstencen@ciypAchubbuckus
submitteYs Contact Information
Associated Securities I Modification History
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BONOFESERIE52011
Schedule for Periodic Bond Covenant Compliance
Reporting
Borrower/Issuer: City of Chubbuck, Idaho
Account #(s): 7110531
Bond Issue(s): City of Chubbuck, Idaho Annual Appropriation Certificates of Participation, Series 2019
Main Contact for EMMA: Dan Christensen and Rich Morgan
Email addresses: Dan Christensen dchristensen@cityofchubbuck.us; Rich Morgan rmorgan@cityofchubbuck.us
Annual Requirements
Date due
Document(s)
II ►�l ALAM.,
Comments Post Y/N
3/29
ANNUAL REPORT. Pursuant to Information Reporting Agreement Section 3(a) & 3(b),
y
City to provide the audited financial statements and other financial, statistical and operating
data contained in the Official Statement (updated Tables 3-11), no later than 180 days after the
close of prior Fiscal Year (September 30th), due roughly 3/29.
If EMMA reportable: The Securities and Exchange Commission (SEC) has taken a strong stance regarding the timeliness of interim and annual continuing
disclosure compliance reporting on EMMA. Please make every effort to meet the due date requirements on your compliance items. The rules require disclosure
of late or non-compliance which could mean the reporting of your non-compliance on offering documents for the next financing you may want to complete.
If not EMMA reportable: Your Bondholders and/or Lenders insist on the timely reporting of required financial information. Please make every effort to meet the
due date requirements on your compliance items so we can forward these items to them as requested.