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CITY OF CHUBBUCK, IDAHO
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025
TABLE OF CONTENTS
Page
Title Page 1
Table of Contents 2-3
Introductory Section 4
Letter of Transmittal 5-7
List of Principal Officials 8
Organizational Chart 9
Financial Section
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
Notes to Financial Statements 32-47
Required Supplementary Information 48
Budgetary Comparison Schedule - General Fund 49
Budgetary Comparison Schedule - Highway, Streets and Roads 50
Schedule of Employer's Share of Net Pension Liability 51
Schedule of Employer Contributions 52
Notes to Required Supplementary Information 53
6
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025
TABLE OF CONTENTS - CONTINUED
Page
Other Supplementary Information 54
Combining Balance Sheet - Nonmajor Governmental Funds 55
Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor
Governmental Funds 56
Statements of Net Position - Internal Service Funds 57
Statements of Revenues, Expenses, and Changes in Net Position - Internal Service
Funds 58
Statements of Cash Flows - Internal Service Funds 59
Budgetary Comparison Schedule - Nonmajor Governmental Funds 60
Statistical Section 61
Statistical Section - Table of Contents 62
Financial Trends 63-70
Revenue Capacity 71-74
Debt Capacity 75-76
Operating Information 77-79
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 80-81
9
INTRODUCTORY SECTION
CHUBBUCI(
1 0 A H 0
www.ci!yofchubbuck.us
290 E. Linden Avenue
Chubbuck, ID 83202
208) 237-2400 phone
208) 237-2409 fax
MAYOR COUNCIL MEMBERS
Rodney Burch Roger Hernandez
Dan Heiner
Melanie Evans
Norman Reece
March 25, 2026
The Honorable Mayor Rodney Burch, Members of the City Council, and Citizens of the City of
Chubbuck:
Idaho State Law requires that all general-purpose local governments with an annual budget that exceeds
two hundred fifty thousand dollars submit copies of their audited financial statements to the legislative
council. The statements must be presented in conformity with generally accepted accounting principles
GAAP) and audited in accordance with generally accepted auditing standards (GARS) by a firm of
licensed certified public accountants. Pursuant to those requirements, we hereby issue the comprehensive
annual financial report for the City of Chubbuck for the fiscal year ended September 30, 2025.
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 find of licensed certified public accountants has issued an unmodified
opinion on the City of Chubbuck's financial statements for the year ended September 30, 2025. 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 Cbubbuck (estimated 2025 population of 16,800) was incorporated in 1950. Chubbuck is
located in the southeastern portion of the State of Idaho.
Chubbuck has a land area of 5.90 square miles and is bordered by the City of Pocatello, with its own
estimated population of 58,600. The City is located in Bannock County with an estimated population of
91,410. 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 fiend, 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 25, 2026,
Rodney Burch
Mayor
Daniel Christensen
City Accountant
ric Jablonski
City Treasurer
CITY OF CHUBBUCK, IDAHO
List of Principal Officials
SEPTEMBER 30, 2025
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
Building, Planning, and Development
Police Chief
Computer Information Systems
Parks & Recreation
Fire Chief
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
Don Matson
Nick Sasser
Joey Bowers
Aaron Schilhabel
Merlin Miller
r
CITY OF CHUBBUCK
ORGANIZATION CHART
I
Building, PUBLICLEGAL
CLERK
HUMAN
FINANCE FIRE POLICE
Planning,& WORKS I SERVICES RESOURCES I
Development L
INFORMATION UTILITY ANIMAL
TECHNOLOGY BILLING CONTROL
r
IENGINEERING HIGHWAY r WATER 1 WASTEWATER I SANITATIONPARKS
STREETS &
ROADS i
DEVELOPMENT
PLANNING BUILDING
SERVICES I
9
Deaton & Company, Chartered
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 oft he 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, 2025, 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,
2025, 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, 49-50 and
51-52, respectively, be presented to supplement the basic financial statements. Such information, although not a
part of the basic financial statements, is required by the Governmental Accounting Standards Board, who
considers it to be an essential part of financial reporting for placing the basic financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to the
required supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management's responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do not
express an opinion or provide any assurance on the information because the limited procedures do not provide
us with sufficient evidence to express an opinion or provide any assurance.
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 2024 audited financial
statements and, in our report dated May 22, 2025, 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 25, 2026, 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 25, 2026
CITY OF CHUBBUCK, IDAHO
Management's Discussion and Analysis
For the Year Ended September 30, 2025
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,
2025. 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 $111,524,533 (net
position).
The City's net position increased by $5,883,491. Approximately 50 percent of this
increase, $2,950,052, is attributed to capital contributions.
At the end of the current fiscal year, the unassigned general fund balance was
10,197,665 or 94 percent of total general fund expenditures.
In the City's business -type activities, operating revenues increased by $1,795,887, and
operating expenses increased by $1,036,037. 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 a decrease of $3,930,687 from $28,064,104 to $24,133,417. The 14
percent decrease was primarily due to a reduction in accounts payable, 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 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 government -wide financial statements distinguish functions of the City of Chubbuck that are
principally supported by taxes and intergovernmental revenues (governmental activities) from functions
that are intended to recover all or a significant portion of their costs through user fees and charges
business -type activities). The governmental activities of the City of Chubbuck include general
government and administration, public safety, parks, and highway streets and roads. The business -type
activities of the City include water and sewer, and sanitation operations.
Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated from specific activities or objectives. The City, like other state
and local governments, uses fund accounting to ensure and demonstrate compliance with finance -
related legal requirements. All the City of Chubbuck funds can be divided into two categories:
governmental funds and proprietary 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 evaluating 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 23-27 of the City's
financials.
Proprietary Funds. The City of Chubbuck maintains two different types of proprietary funds:
three enterprise funds and one internal service fund.
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
The internal service fund is an accounting device used to accumulate and allocate costs
internally among the City of Chubbuck's various functions. The City of Chubbuck uses the
internal service fund to account for its central garage operations. The internal service fund is
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 information for all enterprise 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 28-31 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 32-47 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.
Government -wide Financial Analysis
As noted earlier, the 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 $111,524,533 as of
September 30, 2025.
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 services 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.
15
Below is a summary of the City of Chubbuck's Net Position statement.
City of Chubbuck's Net Position
ASSETS
Current and other assets
Noncurrent assets
Total assets
DEFERRED OUTFLOWS
Pension
LIABILITIES
Current liabilities
Long-term liabilities outstanding
DEFERRED INFLOWS
Pension
Certificate of participation
NET POSITION
Net investment in captial assets
Restricted
Unrestricted
Total net position
Governmental Activities Business Activities Total
1)n11r nrv,e n1)e nnnr Anna
11,605,451 $ 11,072,563 5 29,384,764 8 27,243,799 $ 40,990,215 $ 38,316,362
nn -lin c7n An C71 7 1 co 'I n1 non c7 c7d Inn In7 ocl non in7 Id7 nen
761,565 954,861 267,577 353,158 1,029,142 1,308,029
724,015 1,056,535 3,227,693 3,331,737 3,951,708 4,388,272
4,197,351 5,621,580 15,984,358 18,054,252 20,181,709 23,675,832
4,921,366 6,678,115 19,212,051 21,385,989 24,133,417 28,064,104
1,270,881 - 446,527 - 1,717,408 -
7,771,09 8,119,034 4,735,903 5,047,645 12,506,907 13,166,679
49,560,722 49,345,262 44,891,557 43,944,017 94,452,279 93,289,279
167,600 168,800 167,600 168,800
1,417,378 2,542,255 18,322,032 14,725,218 16,904,654 12,182,963
S 48,143,344 S 46,803,007 S 63,381,189 S 58,838,035 5111,524,533 5105,641,042
The restricted portion of the City of Chubbuck's net position, $167,600, represents resources that are
subject to external restriction on how they may be used. The remaining balance of unrestricted net
position $16,904,654 may be used to meet the City's ongoing obligation to citizens and creditors.
As of September 30, 2025, the City reported positive balances in the two categories of net position, for
the government as a whole and business -type activities.
At the end of the current fiscal year, 84 percent of the total liabilities are made up of noncurrent
liabilities. The total assets are 72 percent made up of non-current assets.
Governmental activities. Governmental activities' key elements are broken down in the following
charts. The general activities increased net position by $1,340,337, and the business -type activities
increased net position by $4,543,154.
The City of Chubbuck's direct charges to users of governmental services totaled $700,717. These charges
are for park rentals, building permits and other fees related to public safety and administration. The
general government accounts for 76 percent of the total charges for services. Parks and recreation
account for 20 percent of total charges for services.
16
Below is summary of the City of Chubbuck's Changes in Net Position.
City of Ch11bbuck's Changes in Net PDsitiDn
17
Governmental Activities Business Activities Total
2025 2024 2025 2024 2025 2024
REVENUES
Program revenues;
Ch a rg es f o rs ervices 704,717 5 781,913 515,290,435 13,494,548 515,941,152 5 14,276,451
Operating grants and contribution 31,699 186,524 18,176 15,598 49,875 202,122
Capital grants and contributions 1,454,636 1,227,343 1,495,835 1,445,717 2,950,471 2,673,060
General revenue;
Propertytaxes 8,608,121 8,827,191 8,648,121 8,827,191
Franchise fees and intergovernme 3,727,006 3,925,854 3,727,406 3,925,854
Other 1,S27,025 1,141,27S 542,490 773,117 1,959,516 1,914,S%
Total Revenues 15,849,205 16,090,098 17,446,936 15,728,980 33,296,141 31,819,078
EXPENSES
General government 1,458,952 1,575,564 1,458,952 1,575,564
Publicsafety 8,178,139 7,498,049 8,178,139 7,498,049
Highway, streets and roads 3,096,611 2,860,038 3,496,611 2,860,038
Parks and recreation 1,221,011 1,119,534 1,221,011 1,119,534
Building, planning, developing 554,155 924,893 554,155 924,893
Water 3_909,574 3,553,694 3,509,574 3,553,694
Sewer 3,990,553 3,970,973 3,990,653 3,970,973
Sanitation 2,780,379 2,602,186 2,780,379 2,502,185
Health p Ian trust 2,623,176 1,754,373 2,623,176 1,754,373
Total expenses 14,508,868 13,978,178 12,903,782 11,881,222 27,412,650 25,859,400
NET CHANGE IN NET POSITION 1,340,337 2,111,920 4,543,154 3,847,758 5,883,491 5,959,578
NET POSITION beginning 46,803,007 44,591,087 58,838,435 54,940,277 105,641,042 99,681,364
NET POSITION ending 548,143,344 546,803,007 63,381,189 58,838,435 5111,524,533 5 105,541,042
17
Revenue by Source - Government Activities
D-h. S 1,327 326
Franchise fees and
intergovernmental
3,727,006 , 24%
Charges for services
700,717, 5%
0
Operating grants and
contributions
31,699,0%
Property taxes .$ 8,608,121 ,
54%
Capital grants and
corrtributions
1,454,636, 9%
Expenses and Program Revenues — Governmental Activities
Expenses and Program Revenues -Governmental Activities
9,000,000
8,000,000
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000 S
Expenses
Revenue
The majority of the City of Chubbuck's general governmental activities' revenue is received from
property tax of 54 percent.
When all taxes, franchise fees, and intergovernmental revenues are added together, they make
up 86 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 2025.
No extraordinary expenses were paid, or revenues were received during the year.
The most significant major fund in the City is the general fund. The notable transactions within the
general fund this year mainly consisted of 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
Otter $642,490 3.68%
Capital g•a its arc cedicated
assets $1,514,011 9.68%
C ha rges fo r servi ces $15,290,435
87.64%
Expenses and Program Revenue - Business Type Activities
7,000,000
6,400,440
5,000,000
4,400,444
3,000,000
2,400,444
1,000,000
Water Se we r Sa -]-tat-0-1
Revenue
M Expense
One of the major sources of the City of Chubbuck's business -type activities' revenue is received
from service revenue. Currently, the City of Chubbuck's business type activities do not use
property taxes for any type of funding.
When revenues are compared to expenses, it shows that all the City of Chubbuck's business -
type activities 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. 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 $10,853,211. Of which $7,887,381 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. The total governmental operating revenues were more
than operating expenditures by $748,400. With the other financing sources and uses, the net change in
the governmental funds increased $842,412 for fiscal year 2025. The net change in the highway, streets,
and roads fund was $0. As a measure of liquidity, it may be useful to compare both total unassigned
fund balance and total fund expenditures. The total unassigned fund balance represents 58 percent of
total governmental 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: $7,668,538, Sewer:
8,841,099, and Sanitation: $584,640. The water fund had an increase in net position of $1,914,429; the
sewer fund had an increase in net position of $2,883,817; and the sanitation fund had a decrease in net
position of $(218,375).
General Fund Budgetary Highlights
The City made no revision to the original appropriations approved by the City Council. The general
fund's actual revenues were less than the budget and expenditures were less than the budget. The
difference accounts for a $429,215 increase in the general fund balance. The major variances in
expenditures were due to a decrease in fire control and parks expenditures. The highway, streets and
roads fund actual revenues and expenditure were less than the budget. The difference accounts for a $0
change in the highway, streets, and roads fund balance. This was a result after a transfer out of
193,005.
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, 2025, amounts to $103,317,342 (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 $14,192,922. The increase in assets includes development contributions of $2,950,052.
21
Land
Building & Improvements
Vehicles & Equipment
Infrastructure
Work in Progress
Water Rights
Total
City ofChubbuck's Capital Assets
Governmental Activities Business Ar.ivi ies To al
2025 2024 2025 2024 2025 2024
5 3,248,479 5 3,248,479 S 2.159.817 S 2,159,817 S 5,408,296 S 5,408,296
17,377,350 17,377,350 57.603.069 54,969,516 74,980,419 72,346,866
7,271,417 5,456,530 9.322.867 8,986,312 16,594,284 14,442,842
34,810,856 25, 815, 857 34, 810, 856 25, 815, 857
9,172,949 33,790 1,204,795 33,790 10,377,744
2,421,167 2,421,167 2,421,167 2,421,167
S 62,708,102 S61.071,165 S71.540.710 S69,741.607 S 134,248,812 S 130,812,772
Additional information on the City of Chubbuck's capital assets can be found in note 9 on page 40 of the
City's financials.
Long-term debt. At the end of the current fiscal year, the City of Chubbuck had a total long-term debt
outstanding of $17,005,390. Of this amount, $7,417,010 is comprised of notes to the Department of
Environmental Quality for wastewater infrastructure. Long-term debt also includes bonds with a
remaining balance of $160,000 used for purchasing water rights. The City had a note payable for water
tank repairs with a remaining balance of $12,012, a note payable for water distribution with remaining
balance of $8,486,903, and a note payable for sanitation system setup with remaining balance of
198,794. The City purchased a fire aerial ladder truck with a debt obligation balance of $730,672.
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 general obligation debt with a remaining balance of $730,672. The limit
totaled $190,527,716 based on 2025's estimated assessed values of 2,116,974,619. Therefore
189,797,044 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 any questions 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, 2025
23
See accompanying notes to financial statements
Governmental Business -type Development
Activities Activities Total Authority
ASSETS
Current assets
Cash and cash equivalents 13,378,941 25,147,410 38,526,351 651,702
Property taxes receivable 633,568 633,568 24,684
Intergovernmental receivables 301,378 1,658 303,036
Interest receivable 31,164 3,077 34,241
Lease receivable 83,014 83,014
Grant receivable 1,465 15,980 17,445
Internal balances due to/from 3,077,366) 3,077,366
Prepaid expenses 250,191 58,678 308,869 4,648
Other accounts receivable 3,096 1,080,595 1,083,691
11,605,451 29,384,764 40,990,215 681,034
Noncurrent assets
Restricted assets
Bond reserves 167,600 167,600
Utility deposits 699,477 699,477
Investments 3,491,515 3,491,515
Capital assets 62,708,103 71,540,710 134,248,813 1,260,321
Accumulated depreciation 13,147,381) 17,784,090) 30,931,471)
Lease and subscription assets 335,785 24,894 360,679
Accumulated amortization of assets 156,928) 16,777) 173,705)
49,739,579 58,123,329 107,862,908 1,260,321
61,345,030 87,508,093 148,853,123 1,941,355
DEFERRED OUTFLOWS
Pension 761,565 267,577 1,029,142
LIABILITIES
Current liabilities
Accounts payable 267,375 585,830 853,205 256,187
Accrued payroll 147,007 68,076 215,083
Accrued bond interest 633 633
Interest payable 13,224 57,567 70,791
Unearned revenue and lease liabilities 79,390 75,676 155,066
Current portion compensated absences 121,748 43,572 165,320
Current portion of bonds payable 167,355 167,355 61,085
Current portion of long-term debt 95,271 1,342,371 1,437,642
Health Claims incurred but not reported 187,136 187,136
Utility deposits 699,477 699,477
724,015 3,227,693 3,951,708 317,272
Noncurrent liabilities
Bonds payable, net unamortized premium 1,052,592
Notes payable 635,401 14,772,347 15,407,748
Lease and subscription obligation 139,313 6,282 145,595
Accrued compensated absences 486,990 174,286 661,276
Net pension liabilities 2,935,647 1,031,443 3,967,090
4,197,351 15,984,358 20,181,709 1,052,592
4,921,366 19,212,051 24,133,417 1,369,864
DEFERRED INFLOWS
Pension 1,270,881 446,527 1,717,408
Certificate of participation 7,771,004 4,735,903 12,506,907
NET POSITION
Net investment in capital assets 49,560,722 44,891,557 94,452,279 1,260,321
Restricted 167,600 167,600 331,531
Unrestricted 1,417,378) 18,322,032 16,904,654 1,020,361)
48,143,344 63,381,189 111,524,533 571,491
23
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Component Unit:
Chubbuck Development Authority $ 804,138 $ (804,138)
804,138 $ (804,138)
General Business -type Development
Activities Activities Total Authority
Net (expense)/revenue
General revenues
Property taxes
Franchise fees
Intergovernmental income
Interest income
Gain from asset disposal
Other revenue
NET CHANGE IN NET POSITION
BEGINNING NET POSITION
ENDING NET POSITION
12,321,817) $ 3,900,664 $ (8,421,153) $ (804,138)
8,608,121 8,608,121
Program Revenues
215,779
Total
215,779
3,511,227
Operating Capital Net
580,286 603,660
Charges for Grants and Grants and Expense) Development
22,212
Expenses Services Contributions Contributions Revenue Authority
13,662,153 642,490 14,304,643 511,981
Functions/Programs
4,543,154 5,883,491 292,157)
46,803,007 58,838,035
Primary Government:
863,648
48,143,344 $ 63,381,189 111,524,533 571,491
Governmental activities:
General government 1,261,874 533,210 2,883 $ 725,782) $
Law enforcement 5,472,394 26,354 7,295 5,438,745)
Fire control 2,705,745 2,705,745)
Highway, streets, and roads 3,096,611 1,454,636 1,641,975)
Parks and recreation 1,221,011 141,153 10,000 1,069,858)
Building, Planning, Developing 554,155 554,155)
Other special funds 197,078 11,521 185,557)
14,508,868 700,717 31,699 1,454,636 12,321,817)
Business -type activities
Water 3,509,574 4,081,963 18,176 1,054,353 1,644,918
Sewer 3,990,653 6,128,375 441,482 2,579,204
Sanitation 2,780,379 2,493,366 287,013)
Health plan trust 2,623,176 2,586,731 36,445)
12,903,782 15,290,435 18,176 1,495,835 3,900,664
Total primary government 27,412,650 15,991,152 49,875 $ 2,950,471 8,421,153) $
Component Unit:
Chubbuck Development Authority $ 804,138 $ (804,138)
804,138 $ (804,138)
General Business -type Development
Activities Activities Total Authority
Net (expense)/revenue
General revenues
Property taxes
Franchise fees
Intergovernmental income
Interest income
Gain from asset disposal
Other revenue
NET CHANGE IN NET POSITION
BEGINNING NET POSITION
ENDING NET POSITION
12,321,817) $ 3,900,664 $ (8,421,153) $ (804,138)
8,608,121 8,608,121 485,477
215,779 215,779
3,511,227 3,511,227
580,286 603,660 1,183,946 18,426
5,812 16,400 22,212
740,928 22,430 763,358 8,078
13,662,153 642,490 14,304,643 511,981
1,340,337 4,543,154 5,883,491 292,157)
46,803,007 58,838,035 105,641,042 863,648
48,143,344 $ 63,381,189 111,524,533 571,491
24
See accompanying notes to financial statements
LIABILITIES
Accounts payable $ 170,432
CITY OF CHUBBUCK, IDAHO
40,500 $ 265,469
Accrued payroll 129,767 17,240
BALANCE SHEET
Accrued compensated absences 104,333 17,415 121,748
GOVERNMENTAL FUNDS
3,077 13,224
Due to other funds -
SEPTEMBER 30, 2025
3,077,366
414,679 3,169,635
Highway,
DEFERRED INFLOWS OF RESOURCES
Streets, Other
121,535
Unavailable revenues - leases 79,390
General and Roads Governmental
185,125 15,800
Fund Fund Funds Total
ASSETS
Committed - 2,965,830 2,965,830
Cash 9,724,409 $ 648,202 3,006,330 13,378,941
Accounts receivable 3,096 - 3,096
Property and sales taxes receivable 614,981 18,587 633,568
Intergovernmental receivables 89,149 208,362 297,511
Interest receivable 31,164 - 31,164
Prepaid expense 250,191 -
178,858
250,191
Lease receivable 83,014 -
expenditures and therefore are not reported in the funds:
83,014
Grant receivable 1,465 - 1,465
Deferred outflows and inflows of resources related to pensions and certificate of participation
10,797,469 $ 875,151 3,006,330 14,678,950
LIABILITIES
Accounts payable $ 170,432 54,537 40,500 $ 265,469
Accrued payroll 129,767 17,240 147,007
Accrued compensated absences 104,333 17,415 121,748
Interest Payable 10,147 3,077 13,224
Due to other funds - 3,077,366 3,077,366
414,679 3,169,635 40,500 3,624,814
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - taxes 105,735 15,800 121,535
Unavailable revenues - leases 79,390 79,390
185,125 15,800 200,925
FUND BALANCES
Committed - 2,965,830 2,965,830
Unassigned 10,197,665 2,310,284) 7,887,381
10,197,665 2,310,284) 2,965,830 10,853,211
10,797,469 875,151 3,006,330
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 $13,147,381. 49,560,721
Lease assets are not reported in the funds, net of amortization 178,858
Unavailable revenue represents amounts that were not available to fund current
expenditures and therefore are not reported in the funds:
Property tax 121,535
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 761,565
Deferred inflows of resources related to pensions 1,270,881)
Deferred inflows of resources related to certificates of participation 7,771,004)
Internal service funds are used to charge the costs of certain activities, such as
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. 1,961
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Lease liability 139,313)
Note payable 730,672)
Accrued compensated absences 486,990)
Net pension asset/(liability) 2,935,647)
Net position of governmental funds 48,143,344
1007
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTALFUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
REVENUES
Property taxes
Franchise fees
Intergovernmental income
Court Revenue
Parks revenue
Licenses, permits and fees
Grants
Leases and rents
Interest income
Donations
Charges for services
Other revenues
EXPENDITURES
General government
Law enforcement
Fire control
Highway, streets, and roads
Parks and recreation
Building, planning, and development
Other purchased services
Capital outlays
Lease and subscription capital outlays
Debt service
Equipment note payable principle expense
Principal lease and subscription expense
Interest expense
EXCESS OF REVENUES OVER
UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds from leases and subscriptions
Proceeds from sale of assets
Transfers in (out)
NET CHANGE IN FUND BALANCES
BEGINNING FUND BALANCE
ENDING FUND BALANCE
26
See accompanying notes to financial statements
Highway,
Streets, Other
General and Roads Governmental
Fund Fund Funds Total
7,476,332 1,106,282 8,582,614
215,779 215,779
2,034,888 1,476,339 3,511,227
26,354 26,354
139,625 139,625
362,170 362,170
18,295 1,883 20,178
134,980 134,980
498,528 31,066 50,692 580,286
11,521 11,521
1,528 1,528
113,196 4,492 623,240 740,928
11,033,196 2,618,179 675,815 14,327,190
936,901 936,901
5,201,637 5,201,637
2,436,691 2,436,691
2,421,207 2,421,207
1,083,357 1,083,357
545,970 545,970
197,078 197,078
356,700 65,540 422,240
88,201 88,201
92,469 92,469
121,210 823 122,033
27,862 3,144 31,006
10,890,998 2,425,174 262,618 13,578,790
142,198 193,005 413,197 748,400
88,200 88,200
5,812 5,812
193,005 193,005)
287,017 193,005) 94,012
429,215 413,197 842,412
9,768,450 2,310,284) 2,552,633 10,010,799
10,197,665 2,310,284) 2,965,830 $ 10,853,211
26
See accompanying notes to financial statements
Continued)
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTALFUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Total
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 $ 842,412
Amounts reported for governmental activities in the Statement of Activities are different because
Governmental funds report capital outlays as expenditures while governmental activities report
depreciation expense to allocate those expenditures over the life of the assets. Capital asset
contributions from other entities are not recognized as a revenue for governmental purposes, but
are required to be recognized on the Statement of Activities:
Contributed capital assets 1,454,636
Capital asset purchases capitalized 422,240
Depreciation expense (1,661,417)
215,459
The net affect of sales transactions involving capital assets
The net affect of lease agreements that are reported in the Statement of Activities, but do not
provide current financial resources and are not reported in the governmental funds (14,780)
Unavailable revenues are not recorded as current period receipts 25,507
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 291
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 (54,386)
Net proceeds from debt 92,468
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 (114,664)
Governmental funds do not report inflows and outflows from the certificate of participation.
However, in the Statement of Net Activities report these as lease expense net of amortized
deferred inflows:
Certificate of participation proceeds in excess of deferred inflows 348,030
Change in net position $ 1,340,337
27
See accompanying notes to financial statements
ASSETS
Current assets
Cash and cash equivalents
Accounts receivable
Grant receivable
Interest receivable
Prepaid expense
Noncurrent assets
Restricted assets
Bond reserves
Utility deposits
Investments
Capital assets
Accumulated depreciation
Lease and subscription 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
Notes payable
Compensated absences
Lease and subscription liabilities
Net pension liabilities
DEFERRED INFLOWS
Pension
Certificate of participation
NET POSITION
Net investment in capital assets
Restricted for bond service
Unrestricted
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2025
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2024
27,221,327 $30,077,336 $4,873,290 $1,208,792 63,380,745 $ 58,837,319 $ 1,481 $ 2,386
Adjustment to reflect the consolidation of internal service fund activities related to enterprise activities. 444
63,381,189
28
See accompanying notes to financial statements
Internal Internal
Health Plan Service Service
Water Sewer Sanitation Trust Total 2024 Funds 2025 Funds 2024
6,582,268 15,199,981 1,879,309 1,485,852 25,147,410 22,994,029
421,398 439,527 203,880 15,790 1,080,595 1,015,354 4,601 5,525
15,980 15,980 6,350
3,077 3,077 3,210
58,678 58,678 13,632
7,019,646 15,642,585 2,083,189 1,560,320 26,305,740 24,032,575 4,601 5,525
167,600 167,600 168,800
694,677 3,980 820 699,477 588,617
3,005,850 485,665 3,491,515 3,450,980
35,234,890 28,179,946 7,864,789 71,279,625 69,480,522 261,085 261,085
7,203,431) 6,943,709) 3,377,346) 17,524,486) 16,035,084) 259,604) 258,699)
8,367 8,367 8,160 24,894 41,847
5,631) 5,631) 5,515) 16,777) 23,366)
3,077,366 3,077,366 3,209,566
31,902,322 24,320,319 4,976,573 61,199,214 60,881,882 1,481 2,386
38,921,968 39,962,904 7,059,762 1,560,320 87,504,954 84,914,457 6,082 7,911
92,623 82,331 92,623 267,577 353,168
85,381 318,924 90,114 88,716 583,135 623,508 4,601 5,525
23,534 20,599 23,943 68,076 62,170
187,136 187,136 129,738
75,676 75,676 144,650
18,262 16,692 8,618 43,572 38,416
167,355 167,355 162,355
633 633 1,150
383,286 852,545 106,540 1,342,371 1,515,538
57,007 560 57,567 62,267
694,677 3,980 820 699,477 588,617
1,430,135 1,212,740 230,595 351,528 3,224,998 3,328,409 4,601 5,525
167,356
8,115,629 6,564,465 92,253 14,772,347 16,136,129
73,046 66,770 34,470 174,286 153,663
2,126 2,126 2,030 6,282 12,182
357,038 317,367 357,038 1,031,443 1,584,922
8,547,839 6,950,728 485,791 15,984,358 18,054,252
9,977,974 8,163,468 716,386 351,528 19,209,356 21,382,661 4,601 5,525
154,567 137,393 154,567 446,527
1,660,723 1,667,038 1,408,142 4,735,903 5,047,645
19,365,189 21,236,237 4,288,650 44,890,076 43,941,631 1,481 2,386
167,600 167,600 168,800
7,688,538 8,841,099 584,640 1,208,792 18,323,069 14,726,888
27,221,327 $30,077,336 $4,873,290 $1,208,792 63,380,745 $ 58,837,319 $ 1,481 $ 2,386
Adjustment to reflect the consolidation of internal service fund activities related to enterprise activities. 444
63,381,189
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, 2025
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2024
OPERATING EXPENSES
Administration
Salaries and wages
Personnel benefits
Repairs and maintenance
Equipment and supplies
Travel, meetings, and training
Telephone and communications
Utilities
Treatment - Pocatello
Certificate of participation payment
Other purchased services
Professional services
Bad debt
Depreciation
Lease and subscription amortization
OPERATING INCOME
NONOPERATING REVENUE (EXPENSE)
Interest income
Investment income
Note interest income
Bond interest expense
Note interest expense
Lease and subscription interest expense
Grant revenue
Miscellaneous revenue
Gain (Loss) from asset disposal
69,293 69,293
Internal Internal
1,445,717
875,156
Health Plan
878,236
Service Service
36,445) 4,543,426
Water Sewer Sanitation Trust Total 2024 Funds 2025 Funds 2024
OPERATING REVENUES
228,066 132,254 879,306
Service revenue 3,914,608 6,128,375 $ 2,493,366 $ 2,586,731 15,123,080 13,164,837 51,099 58,952
Revenue used as security
733,706 830,574 39,585 37,696
8,815 9,409
for revenue bond:
22,673 67,147 80 60
10,745
Charges for services 167,355 167,355 329,711
269,563
4,081,963 6,128,375 2,493,366 2,586,731 15,290,435 13,494,548 51,099 58,952
OPERATING EXPENSES
Administration
Salaries and wages
Personnel benefits
Repairs and maintenance
Equipment and supplies
Travel, meetings, and training
Telephone and communications
Utilities
Treatment - Pocatello
Certificate of participation payment
Other purchased services
Professional services
Bad debt
Depreciation
Lease and subscription amortization
OPERATING INCOME
NONOPERATING REVENUE (EXPENSE)
Interest income
Investment income
Note interest income
Bond interest expense
Note interest expense
Lease and subscription interest expense
Grant revenue
Miscellaneous revenue
Gain (Loss) from asset disposal
69,293 69,293 62,972
1,495,835 1,445,717
875,156 764,149 878,236 2,517,541 2,345,189
36,445) 4,543,426 3,846,389 (905) (1,265)
305,623 300,205 371,257 2,008,045 2,985,130 2,326,097
228,066 132,254 879,306 1,239,626 1,114,971 5,362 14,491
388,300 107,991 237,415 733,706 830,574 39,585 37,696
8,815 9,409 4,449 22,673 67,147 80 60
10,745 6,080 6,456 23,281 22,962
269,563 46,286 15,015 330,864 316,423 6,073 6,704
1,726,919 1,726,919 1,630,031
40,549 40,702 34,381 115,632 114,406
78,210 476,524 554,734 449,472
48,878 37,696 44,060 69,314 199,948 148,382
4,612 4,612 27,771
991,860 815,404 297,543 2,104,807 2,126,788 904 1,266
3,469 3,469 3,429 10,367 19,911
3,253,846 3,990,564 2,771,547 2,623,176 12,639,133 11,603,096 52,004 60,217
828,117 2,137,811 278,181) 36,445) 2,651,302 1,891,452 905) 1,265)
143,083 284,421 42,909 470,413 530,745
112,135 18,035 130,170 217,476
3,077 3,077 3,210
5,928) 5,928) 11,761)
249,439) 8,747) 258,186) 267,578)
89) 89) 85) 263) 156)
18,176 18,176 15,598
5,821 8,915 7,694 22,430 21,686
8,200 8,200 16,400
31,959 304,524 59,806 396,289 509,220
CAPITAL CONTRIBUTIONS
Developer contributions 1,054,353 441,482 1,495,835 1,445,717
1,054,353 441,482 1,495,835 1,445,717
CHANGES IN NET POSITION 1,914,429 2,883,817 (218,375) 36,445) 4,543,426 3,846,389 (905) (1,265)
BEGINNING NET POSITION 25,306,898 27,193,519 5,091,665 1,245,237 58,837,319 54,990,930 2,386 3,651
ENDING NET POSITION 27,221,327 $30,077,336 $ 4,873,290 1,208,792 $63,380,745 58,837,319 $ 1,481 $ 2,386
Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds 272)
Change in net position of business -type activities 4,543,154
29
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2024
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 asset disposals
Proceeds from certificate of participation
Principal and interest paid on lease
Purchase of capital assets
Net cash provided (used) in capital and related
financing activities
CASH FLOW FROM INVESTING ACTIVITIES
Cash paid from 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
132,200
5,065
132,200 131,936
8,546
Internal Internal
8,546 17,977
110,550
Health Plan
120 110,860
Service Service
Water Sewer Sanitation Trust Total 2024 Funds 2025 Funds 2024
4,022,711 6,116,506 2,504,019 2,577,346 15,220,582 13,128,123 52,023 59,576
1,239,050) 2,076,536) 1,192,912) 2,613,218) 7,121,716) 5,788,998) 52,023) 59,576)
1,208,340) 1,049,968) 1,225,994) 3,484,302) 2,965,215)
150,175)
1,575,321 2,990,002 85,113 35,872) 4,614,564 4,373,910
2,281,638)
132,200
5,065
132,200 131,936
8,546 8,546 17,977
110,550 190 120 110,860 67,597
119,096 132,390 120 251,606 217,510
528,539) 1,060,561) 102,850) 1,691,950) 1,115,458)
272,678) 9,008) 281,686) 42,557)
8,200 8,200
1,880,129
16,400
21,572,795 $ $
109,319) 109,733) 92,691) 311,743) 311,742)
2,070) 2,070) 2,026) 6,166) 21,735)
768,664) 150,175) 918,839) 790,146)
1,673,070) 1,164,164) 356,750) 3,193,984) 2,281,638)
84,570 5,065 89,635 17,110
148,904 296,713 50,603 496,220 367,706
233,474 296,713 55,668 585,855 384,816
254,821 2,254,941 215,849) 35,872) 2,258,041 2,694,598
7,194,724 12,949,020 2,095,978 1,521,724 23,761,446 18,878,197
7,449,545 15,203,961 1,880,129 1,485,852 $ 26,019,487 21,572,795 $ $
6,582,268 $15,199,981 $1,879,309 $ 1,485,852 $ 25,147,410 $20,864,513 $ $
867,277 3,980 820 - 872,077 708,282
7,449,545 $15,203,961 $1,880,129 $ 1,485,852 $ 26,019,487 $ 21,572,795 $ $
30
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2024
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
91
See accompanying notes to financial statements
Internal Internal
Health Plan Service Service
Water Sewer Sanitation Trust Total 2024 Funds 2025 Funds 2024
OPERATING INCOME 828,117 2,137,811 278,181) 36,445) $ 2,651,302 2,073,173 905) 1,265)
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation and amortization 995,329 818,873 300,972 2,115,174 2,078,804 905 1,265
Pension expense 37,223) 7,464 8,397 21,362) 157,094
Bad debt expense 4,612 4,612 6,290
Increase) decrease in assets
Accounts receivable 59,252) 11,869) 10,653 9,385) 69,853) 17,302) 924)
Prepaid expense 13,632 58,678) 45,046) 23,824)
Increase (decrease) in liabilities
Accounts payable 179,556) 30,801 28,170 68,636 51,949) 79,165 924
Payroll payable 1,554 1,380 2,972 5,906 7,055
Accrued compensated absences 8,108 5,542 12,130 25,780 13,455
Total adjustments 747,204 852,191 363,294 573 1,963,262 2,300,737 905 1,265
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,575,321 2,990,002 85,113 35,872) $ 4,614,564 4,373,910
91
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 1 OF 16)
NOTE 1 - Summary of Significant Accounting Policies
The City's financial statements comply with generally accepted accounting principles (GAAP). GAAP includes all relevant Governmental
Accounting Standards Board (GASB) pronouncements within the codification. The government -wide financial statements, including the
enterprise funds and the fund financial statements for the proprietary funds, are also under GASB codification. The accounting and
reporting framework and the more significant accounting policies are discussed in subsequent subsections of this note. Applicable
GASB statements have been implemented through GASB 96 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 one component unit; the Chubbuck Development 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 for development.
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.
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.
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.
Page 32
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)
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, and health plan trust.
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.
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.
Page 33
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 3 OF 16)
NOTE 1 - Summary of Sianificant Accountina Policies (Continued
C. Measurement Focus and Basis of Accounting (continued)
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 and highway, streets and roads. All annual appropriations lapse at fiscal year end.
Each month the City prepares a financial report that reflects the actual and budgeted financial data. A strict purchase order system is
used in controlling and maintaining expenditures within budget categories. This data is reviewed by the City Council. The City does not
use the encumbrance method of accounting.
E. Cash and Cash Equivalents
For the purpose of the Statement of Net Position, "cash and cash equivalents" includes all demand, savings accounts, certificates of
deposits, and state investing pools of the City. For the purpose of the proprietary fund Statement of Cash Flows, "cash and cash
equivalents" include all demand and savings accounts, and certificates of deposit or short-term investments with an original maturity of
three months or less.
F. Fair Value Measurements of Assets and Liabilities
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. GAAP establishes a fair value hierarchy for inputs used in measuring fair value
that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs
be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market
data obtained from sources independent of the City. Unobservable inputs reflect the City's assumptions about the inputs market
participants would use in pricing the asset or liability based on the best information available. The fair value hierarchy is categorized into
three levels based on the inputs as follows:
Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities that City has the ability to access. Since
valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these assets and
liabilities does not require a significant degree of judgement.
Level 2 - Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either
directly or indirectly.
Level 3 - Valuations based on inputs that are unobservable, that is, inputs that reflect the City's own assumptions.
G. Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, right of way and similar items),
are assets with an initial, individual cost of more than $35,000 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.
Page 34
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 4 OF 16)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
G. Capital Assets (continued)
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 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.
Lessor/Lessee Leases
The financial statements include the adoption of GASB Statement No. 87 Leases, and GASB Statement No. 96 Subscriptions. The
primary objective of these statements are to enhance the relevance and consistencies of information about the City's leasing and
subscribing activities. These statements establish a model for lease and subscription accounting based on the principle that these
activities are financing the right to use an underlying asset. Under these Statements, a lessee or subscriber is required to recognize a
lease or subscription liability and an intangible right -to -use lease or subscription 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, capital subscriptions, 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.
Page 35
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 5 OF 16)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
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
Government -wide Statements
Equity is classified as net position and displayed in three components:
a. Net investment in capital assets - Consists of capital assets including capital assets, net of accumulated depreciation and
reduced by the outstanding balances of any bonds, mortgages notes, or other borrowings that are attributable to the acquisition,
construction, or improvement of these assets.
b. Restricted - Consists of assets with constraints placed on the use either by (1) external groups such as creditors, grantors,
contributors, or laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislation.
c. Unrestricted - All other assets that do not meet the definition of "restricted" or "net investment in capital assets."
Fund Statements
In the fund financial statements, governmental funds report the following classifications of fund balance:
Nonspendable items- This category includes a portion of net resources that cannot be spent because of their form or because they
must be maintained intact. This includes inventories and prepaid items.
Restricted items- This category includes resources where limitations are imposed by external entities, such as grantors and creditors, or
to comply with laws and regulations of governments.
Committed items -This category includes amounts that can only be used for the specific purposes determined by a formal action of the
City's highest level of decision-making authority for the City. Commitments may be changed or lifted only by the Council taking the same
formal action that imposed the constraint originally.
Assigned items -Assigned items represent the City's intent to use certain resources for specific purposes. The City Council may
establish the intended use of these funds for a designated purpose.
Unassigned items- Represents the remainder of the City's equity in governmental fund -type balances in excess of the aforementioned
classifications.
It is the City's policy to use unrestricted fund balances in the following order: (1) Committed, (2) Assigned, (3) Unassigned.
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.
Page 36
NOTE 2 -
I C611i=fm
NOTE 4 -
NOTE 5 -
NOTE 6 -
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 6 OF 16)
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.
Restricted Assets and Payable from Restricted Assets
Assets have been set aside for special items and are restricted for that purpose. Restricted resources are used only after the
unrestricted resources are depleted. To date cash has been restricted for the following items:
Proprietary
Bond reserves
Utility deposits
Total
167,600
699,477
867,077
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 $699,477 at year-end.
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, $142,974 in outstanding property taxes were expected to be collected and remitted
by the County."
Tax Abatements
The City has no tax abatement agreements as of September 30, 2025.
Cash, Cash Equivalents and Investments
Primary Government:
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Restricted
Unrestricted
Page 37
Balance
867,077
38,526,351
39,393,428
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 7 OF 16)
NOTE 6 - Cash, Cash Equivalents and Investments (Continued)
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 $39,393,428 and the bank balance was
34,873,971. The deposits were covered by collateralized accounts or federal depository insurance of $250,000 per bank. The City
uses various commercial banks to limit their exposure to custodial credit risk, however, some of the City's deposits including the State of
Idaho, Local Government Investment Pool (LGIP) at year-end were not insured nor collateralized in the amount of $3,005,410.
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, 2025, the City had the following investments:
Maturities
More Than
Fair Value No Maturity 1-10 Years 10 Years Moody/ S&P
Money Funds $ 27,395 $ 27,395 $ - $ N/A
U.S. Government Bonds 3,491,515 - 3,491,515 Aa1 /AA+
Total Investments $ 3,518,910 $ 27,395 $ 3,491,515 $
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 651,702
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 $651,702. 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
NOTE 7 - 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 governmental -type funds are as follows:
Highway, Streets,
General and Roads Total
Accounts Receivables 4,128 4,128
Allowance for Doubtful Accounts (1,032) (1,032)
3,096 3,096
Page 38
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 8 OF 16)
NOTE 7 - Receivables and Deferred Inflow of Resources -Leases (Continued)
Receivables as of year-end for the City's business -type funds are as follows:
Water Sewer Sanitation Health Plan Trust Total
Accounts Receivables $ 439,491 453,121 208,041 15,790 $ 1,116,443
Allowance for Doubtful Accounts (18,093) 13,594) 4,161) 35,848)
421,398 439,527 203,880 15,790 $ 1,080,595
For the year ended September 30, 2025, 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. For additional information, refer to the
disclosures below.
The City, as a lessor, had entered into eight lease agreements involving infrastructure, land and structures, and buildings. As of
September 30, 2025, the total combined value of the lease receivable was $83,014, the combined value of the deferred inflow of
resources was $79,390, and the lease revenue balance was $109,179.
Principal and Interest Expected to Maturity
Fiscal Year
2026
2027
2028
2029
2030
2031-2033
Governmental Activities
Lease Receivable
Governmental Activities
Deferred Inflow of Resources -Leases
NOTE 8 - Concentration of Credit Risk
Governmental Activities
Principal Interest
Payments Payments Total Payments
68,783 2,220 71,003
28,361 1,597 29,958
28,747 1,211 29,958
29,137 821 29,958
29,533 425 29,958
14,296 200 14,496
198,857 6,474 205,331
Beginning Ending
Balance Additions Reductions Balance
114,546 $ 78,375 $ 109,907 $ 83,014
114,546 $ 78,375 $ 109,907 $ 83,014
Beginning Ending
Balance Additions Reductions Balance
110,194 $ 78,375 $ 109,179 $ 79,390
110,194 78,375 109,179 79,390
Interest Rate Risk is the risk that changes in interest rates will adversely affect the value of a deposit. The City manages its exposure
to declines in fair value by limiting the average maturity of its deposits to one year or less, or redeemable on demand with no penalty.
Credit Risk is the risk that an issuer or a counterparty to a deposit will not fulfill its obligations. The City seeks to minimize credit risk
through diversification of deposits within the choices allowed under state statutes. The City's investments in U.S. government bonds
were rated Aaa and AA+ by Moody's and Standard & Poor's Investor Services, respectively. Idaho law requires the City to obtain the
safest investment rated by a nationally recognized standard rating service.
Concentration of Credit Risk is the risk of loss attributed to the magnitude of an investment in a single issuer. Exclusive of the State of
Idaho LGIP, the City's deposits in any one issuer does not represent a concentration of total credit risk. The funds in the State of Idaho
LGIP are in a variety of investments which are required to have an A quality credit rating or better.
The City is subject to credit risk on deposits in banks that exceed the FDIC maximum insured balance amount.
Additionally, the City grants credit to customers in the City for utility service. This extension of credit potentially subjects the City to
credit risk.
Page 39
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 9 OF 16)
NOTE 9 - Changes in Assets
A summary of general capital assets at year end is as follows:
Nondepreciable assets
Land
Work in Process
Infrastructures
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
Beginning Ending
Balance Additions Deletions Balance
3,248,479 $ $ - $ 3,248,479
9,172,949 9,172,949 -
25,815,857 8,994,999 - 34,810,856
17,377,350 - - 17,377,350
5,456,530 2,054,826 239,939 7,271,417
61,071,165 11,049,825 9,412,888 62,708,102
11,725,904 1,661,929 240,452 13,147,381
49,345,261 $ 9,387,896 $ 9,172,436 $ 49,560,721
A summary of proprietary type capital assets at year end is as follows:
Nondepreciable assets
Land
Water Rights
Work in Process
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
A summary of general lease assets at year end is as follows:
Vehicles and Equipment
Accumulated Amortization
Beginning Ending
Balance Additions Deletions Balance
2,159,817 $ 2,159,817
2,421,167
Additions Deletions
2,421,167
1,204,795
35,401
1,171,005 33,790
54,969,516 3,179,115 545,562 57,603,069
8,986,312 406,397 69,842 9,322,867
69,741,607 3,585,512 1,786,409 71,540,710
16,293,784 2,105,710 615,404 17,784,090
53,447,823 $ 1,479,802 $ 1,171,005 53,756,620
Beginning Ending
Balance Additions Deletions Balance
308,137 35,401 24,920 318,618
308,137 35,401 24,920 318,618
96,583 68,094 16,196 148,481
211,554 32,693) 8,724 170,137
A summary of proprietary type lease assets at year end is as follows:
Beginning Ending
Balance Additions Deletions Balance
Equipment $ 18,396 $ $ $ 18,396
18,396 18,396
Accumulated Amortization 10,580 3,780 $ 14,360
7,816 $ (3,780) $ $ 4,036
A summary of general subscription assets at year end is as follows:
Beginning Ending
Balance Additions Deletions Balance
Software $ 22,817 $ $ 5,651 $ 17,166
22,817 5,651 17,166
Accumulated Amortization 6,901 7,196 5,651 $ 8,446
15,916 $ (7,196) $ - $ 8,720
A summary of proprietary type subscription assets at year end is as follows:
Beginning Ending
Balance Additions Deletions Balance
Software $ 23,451 $ $ 16,954 $ 6,497
23,451 16,954 6,497
Accumulated Amortization 12,786 6,587 16,954 $ 2,419
10,665 $ (6,587) $ - $ 4,078
Page 40
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 10 OF 16)
NOTE 10 - Lease and Subscription Payable
Lease
The City, as a lessee, had entered into eleven lease agreements involving vehicles and equipment. As of 9/30/25, the total combined
value of the lease liability was $142,705. The total combined value of the lease assets, net of amortization, was $174,172.
Principal and Interest Expected to Maturity
Business -Type Activities Balance Additions Reductions Balance
Subscription Liability $ 4,257 $ $ 2,088 $ 2,169
4,257 $ $ 2,088 $ 2,169
Page 41
Governmental Activities
Principal Interest Total
Fiscal Year Payments Payments Payments
2026 59,482 3,553 63,035
2027 36,137 2,081 38,218
2028 21,248 1,151 22,399
2029 21,723 583 22,306
2030
138,590 7,368 145,958
Business -Type Activities
Principal Interest Total
Fiscal Year Payments Payments Payments
2026 3,079 55 3,134
2027 772 23 795
2028 263 2 265
2029
2030
4,114 80 4,194
Beginning Ending
Governmental Activities Balance Additions Reductions Balance
Lease Liability 171,726 88,201 121,337 138,590
171,726 88,201 121,337 138,590
Beginning Ending
Business -Type Activities Balance Additions Reductions Balance
Lease Liability 7,927 3,813 4,114
7,927 3,813 4,114
Subscription
The City had entered into three subscription -based information technology agreements involving the use of software. As of 9/30/25, the
combined value of the subscription liability was $2,890. The total combined value of the subscription assets, net of amortization, was
12,799.
Principal and Interest Expected to Maturity
Governmental Activities
Principal Interest Total
Fiscal Year Payments Payments Payments
2026 723 27 750
723 27 750
Business -Type Activities
Principal Interest Total
Fiscal Year Payments Payments Payments
2026 2,168 82 2,250
2,168 82 2,250
Governmental Activities Balance Additions Reductions Balance
Subscription Liability 1,419 696 723
1,419 696 723
Business -Type Activities Balance Additions Reductions Balance
Subscription Liability $ 4,257 $ $ 2,088 $ 2,169
4,257 $ $ 2,088 $ 2,169
Page 41
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 11 OF 16)
NOTE 11 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt:
Governmental Business -type
121,748 $ 43,572
486,990 174,286
608,738 $ 217,858
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:
On April 14, 2022, the City issued a debt obligation to purchase an fire aerial ladder truck. Payments are due April 14, beginning April
14, 2023. The debt was issued at 3.03%. The note was issued for $1,000,000 with a annual payment of $117,410 until the maturity
date of April 14, 2032.
Current portion
Noncurrent portion
Business -type activities:
95,271
635,401
730,672
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
12,012
IZ,U"IZ
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.
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. $ 60,593
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. 3,890,254
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. 3,404,114
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. 62,049
7,417,010
Less current portion 852,545
Noncurrent portion $ 6,564,465
With an original loan date of August 23, 2023, the City received a loan award from the Department of Environmental Quality (DEQ) for
9,222,747 at 2.75% interest. Principal and interest shall be paid in equal semi-annual installments of $301,377 over 20 years. The
loan is being used to finance the designing and constructing of a well in Copperfield Landing, additional water distribution lines
throughout the City, and the Hiline booster station.
Current portion
Noncurrent portion
Page 42
371,274
8,115,629
8,486,903
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 12 OF 16)
NOTE 11 - Long-term Debt and Accrued Compensation (Continued)
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 $ 7,355 $ 160,000 $ 167,355
7,355 160,000 167,355
Less current portion 7,355 160,000 167,355
Noncurrent portion $ - $ - $ -
Bond premiums, net amortization totaled $7,355. 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 at 3.5%. The note was issued for $1,375,000 with a monthly payment of $9,321 until the
maturity date of June 1, 2027.
Current portion
Noncurrent portion
Due To/Due From
106,540
92,253
198,793
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
Annual Debt Service Requirements for bonds and notes payable
Year Ending
September 30
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2043
Page 43
Due from Due to
3,077,366 $ -
3,077,366
3,077,366 $ 3,077,366
Governmental Activities Business -type Activities
Principal Interest Principal Interest
95,271 $ 24,941 1,481,229 208,611
98,157 22,139 1,303,869 189,887
101,132 19,253 1,226, 565 180,113
104,196 16,279 1,237,831 170,314
107,353 13,214 1,248,849 157,394
110,606 20,314 5,058,683 542,060
113,957 2,477,246 427,651
2,240,446 117,157
730,672 $ 116,140 16,274,718 1,993,187
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 13 OF 16)
NOTE 11 - Long-term Debt and Accrued Compensation (Continued)
Changes in long-term liabilities
Long-term liability activity for the year was as follows:
Governmental activities
Notes payable
Compensated absences
Business -type activities
Bonds payable
Notes payable
Compensated absences
NOTE 12- Conduit Debt Obligations
Beginning Ending Due within
Balance Additions Reductions Balance one year
823,140 $ - $ 92,468 $ 730,672 $ 95,271
540,755 455,389 387,406 608,738 121,748
1,363,895 $ 455,389 $ 479,874 $ 1,339,410 $ 217,019
Long-term portion $ 1,122,391
Beginning Ending Due within
Balance Additions Reductions Balance one year
315,000 $ $ 155,000 160,000 167,355
17,651,667 1,536,949 16,114,718 1,342,371
192,079 245,323 219,544 217,858 43,572
18,158,746 $ 245,323 $ 1,911,493 16,492,576 1,553,298
Long-term portion $ 14,939,278
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- Interfund Transfer
Fund
General Fund
Highway, Streets, and Roads Fund
The purpose of the transfer was as follows:
Transfers In Transfers Out
193,005 $ -
193,005
193,005 $__193,005
Transfer revenue over expenditures from the Highway, Streets, and Roads Fund to the General Fund.
NOTE 14- Stewardship, Compliance and Accountability
A. Deficit Fund Balance
At September 30, 2024, the City had a deficit fund balance in the amount of $2,310,284 in the Highway, Streets, and Roads fund. The
future reduction of an interfund loan will decrease the deficit fund balance.
Page 44
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 14 OF 16)
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 72% for police and
firefighters. As of June 30, 2025 it was 7.18% for general employees and 10.36% for police and firefighters. The employer contribution
rate as a percent of covered payroll is set by the Retirement Board and was 11.96% general employees and 13.48% for police and
firefighters. The City's contributions were $1,008,826 for the year ended September 30, 2025.
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions:
At September 30, 2025, the City reported a liability for its proportionate share of the net pension liability. The net pension liability was
measured as of June 30, 2025, 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, 2025, the City's proportion
was .16405389 percent.
For the year ended September 30, 2025, the City recognized pension expense (revenue) of $917,803. At September 30, 2025, the City
reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual experience $ - $ 1,019,805
Changes in assumptions or other inputs 697,603
Net difference between projected and actual earnings on pension plan investments -
Changes in the employer's proportion and differences between the employer's contributions and the
employer's proportionate contributions 747,574
City contributions subsequent to the measurement date 281,568 -
1,029,142 $ 1,717,408
281,568 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, 2025.
Page 45
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 15 OF 16)
NOTE 15 - Pension Plan (Continued)
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, 2025 the beginning of the measurement period ended June 30, 2024 is 4.6 and 4.6 for the
measurement period June 30, 2025.
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, 2025:
2026
2027
2028
2029
2030
Actuarial Assumptions:
678,494
663,019)
606,742)
378,567)
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, 2025 actuarial valuation was determined using the following actuarial assumptions, applied to
all periods included in the measurement:
Inflation 2.40%
Salary increases 3.15%
Salary inflation 3.15%
Investment rate of return 6.55%, net of investment expenses
Cost -of -living adjustments 1 %
Contributinq Members, Service Retirement Members, and Beneficiaries
General Employees and All Beneficiaries - Males
General Employees and All Beneficiaries - Females
Teachers - Males
Teachers - Females
Fire & Police - Males
Fire & Police - Females
Disabled Members - Males
Disabled Members - Females
Pub -2010 General Tables, increased 11 %
Pub -2010 General Tables, increased 21 %
Pub -2010 Teacher Tables, increased 12%
Pub -2010 Teacher Tables, increased 21 %
Pub -2010 Safety Tables, increased 21 %.
Pub -2010 Safety Tables, increased 26%.
5% of Fire and Police active member deaths are
assumed to be duty related. This assumption was
adopted July 1, 2021
Pub -2010 Disabled Tables, increased 38%
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, 2025 is based on the results of an actuarial valuation date
July 1, 2025.
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.
Page 46
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 16 OF 16)
NOTE 15 - Pension Plan (Continued)
Actuarial Assumptions: (continued)
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 2025.
1% Decrease Discount Rate
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
Discount Rate:
100.0% 100.0%
The discount rate used to measure the total pension liability was 6.55%. 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 6.55 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 (5.55 percent) or 1 -percentage -point higher (7.55 percent) than the current rate:
Current
1% Decrease Discount Rate 1% Increase
5.55%) (6.55%) 7.55%)
Employer's proportionate share of the net pension liability (asset) 9,544,838 3,967,090 589,682
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, 2025, 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.
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 $1,398,495 for 2025. 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. 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 $187,136 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 25, 2026, the date the financial statements were available to be issued.
Page 47
REQUIRED SUPPLEMENTARY INFORMATION
48
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
GENERALFUND
YEAR ENDED SEPTEMBER 30, 2025
Resources
Property taxes
Franchise fees
Intergovernmental income
Court revenue
Parks revenue
Licenses, permits and fines
Grants
Leases and rents
Interest income
Donations
Charges for services
Other resources
Amounts available for appropriations
Charges to appropriations
General government
Law enforcement
Fire control
Parks and recreation
Building, planning, and development
Capital outlays
Lease and subscription capital outlays
Debt service
Equipment note payable principle expense
Principle retirement and lease finance
Interest expense
Total charges to appropriations
EXCESS OF REVENUES OVER
UNDER) EXPENDITURES
Other Financing Sources
Proceeds from leases and subscriptions
Proceeds from sale of assets
Transfer in (out)
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE - RESTATED
ENDING FUND BALANCE
Budgeted Amounts Variance
Actual Positive
Original Final Amounts Negative)
7,483,718 7,483,718 7,476,332 7,386)
321,000 321,000 215,779 105,221)
2,362,169 2,362,169 2,034,888 327,281)
22,000 22,000 26,354 4,354
186,500 186,500 139,625 46,875)
352,000 352,000 362,170 10,170
15,000 15,000 18,295 3,295
121,000 121,000 134,980 13,980
500,000 500,000 498,528 1,472)
15,100 15,100 11,521 3,579)
1,528 1,528
156,000 156,000 113,196 42,804)
11,534,487 11,534,487 11,033,196 501,291)
1,007,965 1,007,965 936,901 71,064
5,381,875 5,381,875 5,201,637 180,238
3,051,047 3,051,047 2,436,691 614,356
1,494,300 1,494,300 1,083,357 410,943
599,300 599,300 545,970 53,330
356,700 356,700)
88,201 88,201)
92,469 92,469)
121,210 121,210)
27,862 27,862)
11,534,487 11,534,487 10,890,998 643,489
142,198 142,198
88,200 88,200
5,812 5,812
193,005 193,005
287,017 287,017
429,215 429,215
49
9,768,450 9,768,450
10,197,665 $10,197,665
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
HIGHWAY, STREETS AND ROADS
YEAR ENDED SEPTEMBER 30, 2025
Budgeted Amounts Variance
Actual Positive
Original Final Amounts (Negative)
Resources
Property taxes 1,305,000 1,305,000 1,106,282 198,718)
Intergovernmental 1,399,079 1,399,079 1,476,339 77,260
Interest Income 34,421 34,421 31,066 3,355)
Other revenues 6,500 6,500 4,492 2,008)
Amounts available for appropriations 2,745,000 2,745,000 2,618,179 126,821)
Charges to appropriations
Salaries and personnel benefits 972,500 972,500 851,325 121,175
Building maintenance, supplies, utilities 305,800 305,800 200,147 105,653
Professional services 15,010 15,010 10,220 4,790
Street signing and marking 13,000 13,000 10,226 2,774
Street construction and maintenance 1,253,690 1,253,690 1,205,869 47,821
Equipment maintenance 181,500 181,500 139,453 42,047
Miscellaneous expenses 3,500 3,500 3,967 467)
Debt Service
Principal lease and subscription expense 823 823)
I nterest expense 3,144 3,144)
Total charges to appropriations 2,745,000 2,745,000 2,425,174 319,826
Excess of revenues over
under) expenditures 193,005 193,005
Other financing sources (uses)
Transfer in (out) 193,005) 193,005)
193,005) 193,005)
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE 2,310,284) 2,310,284)
ENDING FUND BALANCE 2,310,284) 2,310,284)
50
CITY OF CHUBBUCK, IDAHO
Schedule of Employer's Share of Net Pension Liability
PERSI - Base Plan
Last 10 - Fiscal Years`
GASB Statement No. 68 requires ten years of information to be presented in this table
Data reported is measured as of June 30, 2025
51
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Employer's portion of the net pension liability
asset) 0.0016405389 0.0015691954 0.0015265332 0.001611476 0.001644693 0.001641301 0.001625296 0.001606905 0.001542148 0.00145924
Employer's proportionate share of the net
pension liability (asset) 3,967,090 5,870,082 6,091,891 6,347,214 129,895) 3,811,318 1,855,230 2,370,213 2,423,992 2,958,104
Employer's covered -employee payroll 7,826,424 7,176,519 6,464,312 6,327,525 6,112,874 5,820,108 5,496,835 5,142,733 4,764,551 4,225,127
Employer's proportional share of the net pension
liability as a percentage of its covered -employee
payroll 50.69% 81.80% 94.24% 100.31% 2.12°% 65.49°% 33.75°% 46.09°% 50.88°% 70.01%
Plan fiduciary net position as a percentage of the
total pension liability 90.89°% 85.54% 83.83°% 83.09% 100.36°% 88.22°% 93.79°% 91.69% 90.68% 87.26%
GASB Statement No. 68 requires ten years of information to be presented in this table
Data reported is measured as of June 30, 2025
51
GASB Statement No. 68 requires ten years of information to be presented in this table.
Data is reported as a measurement of September 30, 2025.
52
CITY OF CHUBBUCK, IDAHO
Schedule of Employer Contributions
PERSI — Base Plan
Last 10 — Fiscal Years
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Statutorily required contribution 1,043,464 888,498 791,964 $ 765,724 $ 741,954 709,029 643,275 594,166 545,551 503,931
Contributions in relation to the statutorily
required contribution 1,043,464 888,498 791,964 765,724 741,954 709,029 643,275 594,166 545,551 503,931
Contribution (deficiency) excess
Employer's covered -employee payroll 7,608,875 6,973,077 6,336,434 $6,254,019 $6,154,443 6,009,444 5,597,869 5,318,395 4,568,504 4,536,572
Contributions as a percentage of covered -
employee payroll 14% 12.74% 12.50% 12.24% 12.06% 11.80% 11.49% 11.17% 11.94% 11.11%
GASB Statement No. 68 requires ten years of information to be presented in this table.
Data is reported as a measurement of September 30, 2025.
52
CITY OF CHUBBUCK, IDAHO
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
NOTE 1 - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Basis of Budgetary Accounting
The City is required by State law to adopt annual budgets on all governmental funds that cover a period
from October 1, through September 30. All adopted budgets are prepared in accordance with the
modified accrual basis of accounting and are adopted on a basis consistent with generally accepted
accounting principles.
B. Budgetary Information
GENERALFUND
General government
The City had actual revenues below budget in the amount of $501,291. The city had actual expenditures
below budget in the amount of $643,489. The City had actual revenue of $11,033,196 above actual
expenditures of $10,890,998. This created an excess of $142,198.
Highway, Streets, and Roads
The City had actual revenues below budget in the amount of $126,821. The City had actual
expenditures below budget of $319,826. The City had actual revenue of $2,618,176 above actual
expenditures of $2,425,174. This created an excess of $193,005. This was transferred out of Highway,
Streets, and Roads to the General Fund.
53
OTHER SUPPLEMENTARY INFORMATION
54
ASSETS
Cash
LIABILITIES
Accounts payable
CITY OF CHUBBUCK, IDAHO
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2025
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
379,065 $ 408,348 $ 1,266,446 $ 87,441 $ 1,319 280,319 $ 181,000 402,392 $3,006,330
40,500 - - 40,500
40,500 - - 40,500
FUND BALANCES
Committed, reported in:
Special revenue fund 379,065 408,348 1,225,946 87,441 1,319 280,319 181,000 402,392 2,965,830
379,065 408,348 1,225,946 87,441 1,319 280,319 181,000 402,392 2,965,830
379,065 $ 408,348 $ 1,266,446 $ 87,441 $ 1,319 $ 280,319 $ 181,000 $ 402,392 $3,006,330
55
REVENUES
Interest income
Impact fees
Grant revenue
Other revenues
EXPENDITURES
Other purchased services
Capital Outlays
EXCESS OF REVENUES OVER
UNDER) EXPENDITURES
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Special Revenue
Law Street Juvenile Road
Fire Control Enforcement Park Guarantee Referral Court Projects Parks
Impact Fees Impact Fees Impact Fees Fund Fund Fund Fund Fund
Total
Nonmajor
Funds
9,259 $ 8,450 $ 12,460 $ 3,151 $ 27 $ 5,306 $ 3,735 $ 8,304 $ 50,692
118,661 140,869 206,667 - - - - - 466,197
1,883 - - 1,883
128,979 - 28,064 - - 157,043
127,920 149,319 219,127 132,130 27 35,253 3,735 8,304 675,815
40,500 154,407 2,171 - - 197,078
65,540 - - - - - - 65,540
65,540 - 40,500 154,407 2,171 - - 262,618
62,380 149,319 178,627 (22,277) 27 33,082 3,735 8,304 413,197
NET CHANGE IN FUND BALANCES 62,380 149,319 178,627 22,277) 27 33,082 3,735 8,304 413,197
BEGINNING FUND BALANCE 316,685 259,029 1,047,319 109,718 1,292 247,237 177,265 394,088 2,552,633
ENDING FUND BALANCE 379,065 408,348 1,225,946 87,441 1,319 280,319 181,000 402,392 2,965,830
56
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2025
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2024
LIABILITIES
Current Liabilities
Accounts payable 4,601 4,601 5,525
4,601 4,601 5,525
Noncurrent Liabilities - - -
4,601 4,601 5,525
NET POSITION
Net investment in capital assets 1,481 1,481 2,386
Unrestricted - - -
1,481 $ 1,481 $ 2,386
57
Central
Garage 2025 2024
Fund Totals Totals
ASSETS
Current assets
Accounts receivable 4,601 4,601 5,525
4,601 4,601 5,525
Noncurrent assets
Restricted assets
Capital assets 261,085 261,085 261,085
Accumulated depreciation 259,604) 259,604) 258,699)
1,481 1,481 2,386
LIABILITIES
Current Liabilities
Accounts payable 4,601 4,601 5,525
4,601 4,601 5,525
Noncurrent Liabilities - - -
4,601 4,601 5,525
NET POSITION
Net investment in capital assets 1,481 1,481 2,386
Unrestricted - - -
1,481 $ 1,481 $ 2,386
57
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2024
OPERATING REVENUES
Service revenue
OPERATING EXPENSES
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 2025 2024
Fund Totals Totals
51,099 51,099 58,952
51,099 51,099 58,952
5,362 5,362 14,491
37,298 37,298 36,296
80 80 60
2,287 2,287 1,400
6,073 6,073 6,704
904 904 1,266
52,004 52,004 60,217
905) 905) 1,265)
905) 905) 1,265)
2,386 2,386 3,651
1,481 1,481 2,386
58
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2024
ENDING CASH AND CASH EQUIVALENTS $ - $ -
CASH AND CASH EQUIVALENTS ARE REPORTED AS:
Cash and cash equivalents $ - $ -
Cash and cash equivalents - Restricted - -
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
Central
Garage
Fund 2025 2024
OPERATING INCOME (LOSS)
Central
RECONCILIATION OF OPERATING INCOME TO
Garage
NET CASH PROVIDED BY OPERATING ACTIVITIES
Fund 2025 2024
CASH FLOWS FROM OPERATING ACTIVITIES
905 1,265
Cash received from revenues 52,023 $ 59,576
Cash paid to suppliers 52,023) (59,576)
Cash paid to employees
Net cash provided by operating activities
CASH FLOW FROM NONCAPITAL FINANCING ACTIVITIES
905 1,265
Net cash (used) in noncapital financing activities
CASH FLOW FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Net cash provided (used) in capital and related
financing activities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
BEGINNING CASH AND CASH EQUIVALENTS
ENDING CASH AND CASH EQUIVALENTS $ - $ -
CASH AND CASH EQUIVALENTS ARE REPORTED AS:
Cash and cash equivalents $ - $ -
Cash and cash equivalents - Restricted - -
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
Central
Garage
Fund 2025 2024
OPERATING INCOME (LOSS) 905) $ (1,265)
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation 905 1,265
Increase) decrease in assets
Accounts receivable 924) -
Increase (decrease) in liabilities
Accounts payable 924 -
Total adjustments 905 1,265
NET CASH PROVIDED BY OPERATING ACTIVITIES
59
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Budgeted Amounts Variance
Actual Positive
Original Final Amounts Negative)
Resources
Interest income - - 50,692 50,692.00
1 m pact fees - - 466,197 466,197
Grant revenue - - 1,883 1,883
Other revenues - - 157,043 157,043
Amounts available for appropriations - - 675,815 675,815
Charges to appropriations
Purchased services - - 197,078 197,078)
Capital outlays - - 65,540 65,540)
Total charges to appropriations - - 262,618 262,618)
NET CHANGE IN FUND BALANCE - - 413,197 413,197
BEGINNING FUND BALANCE - - 2,552,633 2,552,633
ENDING FUND BALANCE $ - $ - 2,965,830 2,965,830
STATISTICAL SECTION
61
CITY OF CHUBBUCK, IDAHO
Statistical Section
This part of the City of Chubbuck's comprehensive annual financial report presents detailed
information as a context for understanding what the information in the financial statements,
note disclosures, and required supplementary information says about the government's
overall financial health.
Contents Page
Financial Trends 63-70
These schedules contain trend information to help the reader
understand how the City's financial performance and well-being
have changed over time.
Revenue Capacity 71-74
These schedulers contain information to help the reader assess
the City's most significant local revenue source, the property tax.
Debt Capacity 75-76
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
City's financial activities take place.
Operating Information 77-79
These schedules contain service and infrastructure data to help
the reader understand how the information in the government's
financial report relates to the services the government provides
and the activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
62
City of Chubbuck
Net Position By Components
Last Ten Fiscal Years
Accrual -Basis Accounting)
63
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Governmental activities:
Invested in capital assets, net of related debt 11,138,839 16,829,117 24,019,218 26,473,293 28,622,260 32,641,830 42,901,054 48,801,763 49,345,262 49,560,722
Restricted
Unrestricted 6,181,447 3,212,484 547,753 381,048) 1,695,666) 1,091,874) 4,373,190) 4,124,985) 2,542,255) 1,417,378)
Total governmental activities net position 17,320,286 20,041,601 24,566,971 26,092,245 26,926,594 31,549,956 38,527,864 44,676,778 46,803,007 48,143,344
Business -type activities
Invested in capital assets, net of related debt 6,814,991 9,217,942 11,612,979 11,876,681 16,363,939 41,932,621 43,397,173 44,796,281 43,944,017 44,891,557
Restricted 166,731 168,131 164,850 166,100 167,200 168,150 168,950 164,600 168,800 167,600
Unrestricted 21,272,113 22,001,056 21,704,355 25,076,744 24,496,821 5,378,964 7,682,888 10,029,396 14,725,218 18,322,032
Total business -type activities net position 28,253,835 31,387,129 33,482,184 37,119,525 41,027,960 47,479,735 51,249,011 54,990,277 58,838,035 63,381,189
Primary government
Net investment in capital assets 17,953,830 26,047,059 35,632,197 38,349,974 44,986,199 74,574,451 86,298,227 93,598,044 93,289,279 94,452,279
Restricted 166,731 168,131 164,850 166,100 167,200 168,150 168,950 164,600 168,800 167,600
Unrestricted 27,453,560 25,213,540 22,252,108 24,695,696 22,801,155 4,287,090 3,309,698 5,904,411 12,182,963 16,904,654
Total primary government net position 45,574,121 51,428,730 58,049,155 63,211,770 67,954,554 79,029,691 89,776,875 99,667,055 105,641,042 111,524,533
63
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
Accrual -Basis Accounting)
64
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Expenses
Governmental activities:
General Government 896,297 880,217 $ 862,299 836,698 $ 1,537,463 $ 1,348,508 $ 1,153,148 $ 1,309,632 $ 1,575,664 1,261,874
Law enforcement 3,188,507 3,310,717 3,447,266 3,492,557 3,896,661 3,288,219 3,922,815 4,088,400 4,939,468 5,472,394
Fire Control 1,360,246 1,307,106 1,417,951 1,556,572 1,939,749 1,802,233 2,166,198 2,221,199 2,558,581 2,705,745
Building Inspection 199,277 199,336 217,171 246,220 28,004 371,732
Street 1,487,702 1,426,385 1,293,629 1,210,550 2,042,497 1,764,251 2,121,982 2,490,247 2,860,038 3,096,611
Parks & Recreation 591,638 601,054 653,878 623,328 636,713 802,354 879,101 913,966 1,119,534 1,221,011
Building, Planning, Development 76,884 83,293 90,621 80,049 88,129 91,539 630,746 508,245 635,927 554,155
Other special funds 20,196 150 1,600 17,100 43,181 4,425 234,872 25,500 288,966 197,078
CIAWWC Authority 609,036 609,036
Total governmental activities expenses 8,429,783 8,417,294 7,984,416 8,063,075 10,212,397 9,473,261 11,108,862 11,557,189 13,978,178 14,508,868
Business -type activities:
Water 1,793,535 1,726,443 2,111,162 2,028,807 2,440,008 2,742,104 3,494,695 3,514,768 3,553,690 3,509,574
Sewer 2,319,135 2,363,009 2,649,245 2,705,251 3,174,444 2,868,693 3,707,757 3,872,609 3,970,973 3,990,653
Sanitation 1,221,934 1,637,470 1,732,030 1,626,740 1,916,682 1,969,580 2,460,458 2,449,593 2,602,186 2,780,379
Health Plan Trust 1,346,956 1,646,714 1,595,925 1,754,373 2,623,176
CIAWWC Authority 609,036 609,036 609,063 306,104 3,800 3,100
Total business -type activities program expenses 5,334,604 5,726,922 7,101,473 6,969,834 8,140,197 9,233,437 11,313,424 11,435,995 11,881,222 12,903,782
Total primary government program expenses 13,764,387 14,144,216 15,085,889 15,032,909 18,352,594 18,706,698 22,422,286 22,993,184 25,859,400 27,412,650
64
65
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
Accrual -Basis Accounting)
2016 2017 2018 2019 2020 2021 2024 202520222023
Program Revenues
Governmental activities:
Charges for services:
General Government 365,049 414,674 323,186 399,415 342,244 379,116 497,615 598,552 654,341 533,210
Law enforcement 28,918 31,942 29,940 34,221 28,081 27,335 38,982 35,186 41,031 26,354
Fire control 211,041 214,172 237,675 176,925 61,832 5,009 23,963 72
Street 13,165 17,468 1,292 8,493
Parks & Recreation 10,589 12,728 149,681 14,758 6,125 16,889 15,833 21,696 86,541 141,153
CIAWWC Authority 10,980
Operatinggrantsandcontributions 43,890 71,329 84,653 179,095 652,897 2,345,551 1,034,960 3,347,408 186,524 31,699
Capital grants and contributions 2,667,268 2,354,109 3,644,635 1,019,354 1,253,033 2,253,204 5,322,013 2,211,701 1,227,343 1,454,636
Total governmental activities program revenues 3,326,755 3,109,934 4,482,935 1,841,236 2,345,504 5,035,597 6,933,366 6,214,615 2,195,780 2,187,052
Business -type activities:
Charges for services:
Water 2,783,945 2,728,684 2,896,320 2,983,977 2,944,986 3,167,282 3,256,843 3,540,200 3,704,591 4,081,963
Sewer 3,657,738 3,803,714 3,979,134 4,229,957 4,163,168 4,403,367 4,749,986 5,348,899 5,484,618 6,128,375
Sanitation 2,169,627 2,192,420 1,978,239 1,930,472 1,952,196 2,044,405 2,223,905 2,283,471 2,385,540 2,493,366
Health Plan Trust 1,484,058 1,714,040 1,992,780 1,919,799 2,586,731
CIAWWC Authority 66,915 21,960 95,330 54,900
Operating grants and contributions 134,662 93,730 - 17,955 15,598 18,176
Capital grants and contributions 228,000 1,045,754 2,785,144 3,228,076 3,285,586 1,540,842 1,445,717 1,495,835
Total business -type activities program revenues 8,611,310 8,859,480 9,242,338 10,212,120 11,940,824 14,382,088 15,230,360 14,724,147 14,955,863 16,804,446
Total primary government program revenues 11,938,065 11,969,414 13,725,273 12,053,356 14,286,328 19,417,685 22,163,726 20,938,762 17,151,643 18,991,498
Net(Expense)/Revenue
Governmental activities 5,103,028) 5,307,360) 3,501,480) (6,221,839) 7,866,893) 4,437,664) 4,175,496) 5,342,574) 11,782,398) 12,321,817)
Business -type activities 3,276,706 3,132,558 2,140,865 3,242,286 3,800,627 5,148,651 3,916,936 3,288,152 3,074,641 3,900,664
Total primary governmental net (expense)/revenue 1,826,322) 2,174,802) 1,360,615) (2,979,553) 4,066,266) 710,987 258,560) 2,054,422) 8,707,757) 8,421,153)
65
General Revenues and other Changes in Net Position
Governmental activities:
General Property taxes and sales tax
Franchise fees
Intergovernmental
Interest income
Gain on sale of assets
Other revenue
Transfers in (out)
Total governmental activities
Business -type activities:
Interest income
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
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
Accrual -Basis Accounting)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
5,366,613 5,642,004 5,975,483 6,499,369 7,123,630 4,790,711 7,001,435 7,132,094 8,827,191 8,608,121
199,194 201,328 203,950 189,494 186,818 195,483 254,956 250,217 229,853 215,779
1,311,704 1,323,581 1,373,948 1,403,606 1,187,121 3,241,504 3,223,432 3,074,050 3,696,001 3,511,227
90,432 98,064 157,760 182,445 160,617 97,869 131,771 404,942 586,785 580,286
19,282 54,759 78 6,345 79,272 18,169 14,035 5,812
766,042 763,697 199,888 186,953 36,711 735,459 462,538 612,016 540,453 740,928
534,080)
7,753,267 8,028,674 7,965,788 7,927,865 8,701,242 9,061,026 11,153,404 11,491,488 13,894,318 13,662,153
4,000 106,283 105,808 24,178 159,885) 442,312 751,431 603,660
86,100 736 11,252 2,000 800,418 7,626 10,802 16,400
4,599 21,686 22,430
534,080
86,100 736 15,252 640,363 107,808 824,596 147,660) 453,114 773,117 642,490
7,839,367 8,029,410 7,981,040 8,568,228 8,809,050 9,885,622 11,005,744 11,944,602 14,667,435 14,304,643
2,650,239 2,721,314 4,464,308 1,706,026 834,349 4,623,362 6,977,908 6,148,914 2,111,920 1,340,337
3,362,806 3,133,294 2,156,117 3,882,649 3,908,435 5,973,247 3,769,276 3,741,266 3,847,758 4,543,154
6,013,045 5,854,608 $ 6,620,425 5,588,675 $ 4,742,784 10,596,609 $ 10,747,184 $ 9,890,180 $ 5,959,678 5,883,491
66
67
City of Chubbuck
Fund Balances of Governmental Funds
Last Ten Fiscal Years
Modified Accrual -Basis of Accounting)
2016 2018 2019 2020 2024 20252017202120222023
General fund
Unassigned 3,410,321 3,939,114 1,239,050 $ 107,771 $ (589,351) $ 540,267 1,143,122 5,629,923 7,458,166 7,887,381
Total General Fund 3,410,321 3,939,114 1,239,050 107,771 (589,351) 540,267 1,143,122 5,629,923 7,458,166 7,887,381
All Other Governmental Funds
Committed 565,911 453,040 516,555 658,913 910,503 1,566,814 1,765,720 2,491,774 2,552,633 2,965,830
Total all other governmental funds 565,911 453,040 516,555 $ 658,913 $ 910,503 $ 1,566,814 1,765,720 2,491,774 2,552,633 2,965,830
67
68
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
Modified Accrual -Basis of Accounting)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Revenues:
Property taxes and sales tax 5,375,566 5,627,360 5,930,753 $ 6,405,974 7,131,017 4,895,548 7,040,950 7,159,837 8,813,419 8,582,614
Franchise fees 199,194 201,328 203,950 189,494 186,818 195,483 254,956 250,217 229,853 215,779
Intergovernmental 1,311,704 1,323,581 1,373,948 1,403,606 1,187,121 3,241,504 3,223,432 3,074,050 3,696,001 3,511,227
Court Revenue 28,918 31,942 29,940 34,221 28,081 27,335 28,549 35,076 41,031 26,354
Parks revenue 7,629 10,733 7,729 8,670 2,409 14,275 13,133 18,224 83,382 139,625
License, permits and fines 289,199 320,860 231,180 308,615 220,174 262,953 368,406 461,613 496,883 362,170
Grants 248,290 336,433 43,629 109,076 585,950 2,334,053 516,533 3,339,324 179,289 20,178
Fire protection and prevention 211,041 214,172 237,675 176,925 61,832 5,009 23,963 72
Law enforcement 10,433 110
Leases and rents 75,850 93,814 92,006 90,800 122,070 116,163 129,209 136,939 116,192 134,980
Interest income 90,432 98,064 157,760 182,445 160,617 97,869 131,771 404,942 586,785 580,286
Donations 23,600 40,149 41,024 70,019 66,947 11,498 518,427 8,084 7,235 11,521
Charges for services 2,960 12,975 155,117 23,556 5,008 11,107 2,700 3,472 3,159 1,528
Otherrevenues 19,063 65,897 86,449 184,022 249,999 720,616 449,760 862,780 540,453 740,928
Total Revenues 7,883,446 8,377,308 8,591,160 9,187,423 10,008,043 11,933,413 12,712,222 15,754,740 14,793,682 14,327,190
68
69
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
Modified Accrual -Basis of Accounting)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Expenditures:
General government 574,204 496,074 580,806 621,568 1,303,835 1,072,664 914,597 1,050,464 1,276,841 936,901
Law enforcement 2,960,661 3,062,347 3,287,172 3,354,522 3,507,675 3,550,335 3,646,501 3,970,167 4,654,838 5,201,637
Fire control 1,213,866 1,181,308 1,300,583 1,463,484 1,652,703 1,738,732 1,859,209 1,972,237 2,226,915 2,436,691
Building inspection 181,199 186,059 212,747 244,749 8,913 395,491
Street 1,336,127 1,270,359 1,136,919 1,054,240 1,722,677 1,437,020 1,618,017 1,958,654 2,274,010 2,421,207
Parks and recreation 513,091 502,709 552,176 530,705 509,997 722,129 727,783 775,584 957,126 1,083,357
Building, planning, and development 593,428 482,760 592,855 545,970
Health and welfare 76,884 83,293 90,621 80,049 88,129 91,539
Other purchased services 234,872 25,500 288,966 197,078
Court fund 1,500 150 1,600 -
Parks fund 18,696 17,100 43,181 4,425
Capital outlays 333,207 953,944 4,160,478 2,806,886 1,771,351 2,882,122 6,032,716 4,818,282 441,282 422,240
Lease and subscription capital outlays 141,108 98,047 100,544 88,201
Note payable principle payment 87,110 89,750 92,469
Principal lease and subscription finance 25,648 54,584 69,385 122,033
Interest expense 3,651 30,527 45,956 31,006
CIAWWC Authority 230,930 2,930
Total Expenditures 7,440,365 7,739,173 11,323,102 10,173,303 10,608,461 11,894,457 15,797,530 15,323,916 13,018,468 13,578,790
Excess (deficiency) of Revenues over
under) Expenditures 443,081 638,135 2,731,942) (985,880) 600,418) 38,956 3,085,308) 430,824 1,775,214 748,400
69
70
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
Modified Accrual -Basis of Accounting)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Other financing sources (uses):
Proceeds from note payable 2,930 1,000,000
Proceeds from lease and subscription 141,108 98,046 85,544 88,200
Principal payments 236,050)
Proceeds from certificate of participation 152,278 1,749,674 3,666,689 3,665,816
Interest expense 4,000) (3,869) 3,737) 3,605)
Proceeds from sale of assets 23,953 13,837 99,393 828 6,345 79,272 18,169 14,035 5,812
Total other financing sources (uses) 26,883 222,213) 95,393 (3,041) 154,886 1,746,069 3,887,069 4,782,031 99,579 94,012
Net Change in Fund Balances 469,964 415,922 2,636,549) (988,921) 445,532) 1,785,025 801,761 5,212,855 1,874,793 842,412
Beginning Fund Balances - Restated 3,506,268 3,976,232 4,392,154 1,755,605 766,684 322,056 2,107,081 2,908,842 8,136,006 10,010,799
Ending Fund Balances 3,976,232 4,392,154 1,755,605 $ 766,684 $ 321,152 $ 2,107,081 2,908,842 8,121,697 10,010,799 10,853,211
70
Local Tax Revenues
Highway
Fiscal Year Property Tax Franchise Tax Streets & Road Sales Ta
City of Chubbuck
General Government Tax and Intergovernmental Revenues by Source
Last Ten Fiscal Years
modified accrual basis of accounting)
Intergovernmental Revenues
Total
Total Local State Liquor Highway User's Court Shared Sales Intergovernmental
Tax Taxes Tax Revenue Revenue Road & Bridge Tax Taxes
Local Taxes as
a Percentage
Total Taxes of Total
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%
2023 6,216,172 250,217 943,665 7,410,054 225,430 1,071,510 35,076 1,777,110 3,109,126 10,519,180 70%
2024 7,661,995 229,853 1,151,424 9,043,272 214,016 1,692,373 41,031 1,789,612 3,737,032 12,780,304 71%
2025 7,476,332 215,779 1,106,282 8,798,393 217,243 1,476,339 26,354 $ 1,817,645 $ 3,537,581 12,335,974 71%
71
City of Chubbuck
Assessed Valuation and Tax Rate
Last Ten Fiscal Years
Fiscal Year
Real and Personal
Tax Roll
Utilities Tax
Roll
Actual Sub
Roll
Exemptions
Home Owner's
Exemptions
Personal Annexed
Property Property
Total Assessed
New Actual Value
Construction Roll (including
90% exemptions) Levy Rate
Tax Rate Per
1,000 Value
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 10,613,436 1,509,525 46,894,793 1,174,656,690 0.006204404 6.20
2023 1,362,355,753 10,775,944 325,873 470,479,400 1,843,936,970 0.005964973 5.96
2024 1,335,934,784 11,410,042 2,309,126 467,161,705 1,816,815,657 0.006224284 6.22
2025 1,601,717,009 12,754,179 1,830,361 476,720,659 2,093,022,208 0.005506067 5.51
Source: Bannock County Clerks Office
72
City of Chubbuck
Property Tax Rates
Direct and Overlapping (1) Governments
Last Ten Fiscal Years
per $1,000 of assessed value)
City of Chubbuck Overlapping Rates
County Road & Ambulance Service School District 25
Year Base Rates Bannock County Rates Bridge Rates Abatement Rates Portneuf Library Rates Rates Rates Combined Levy Rates
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
2023 5.96 3.01 0.30 0.02 0.36 0.24 1.37 11.27
2024 6.22 3.11 0.27 0.02 0.38 0.25 1.20 11.45
2025 5.51 2.82 0.22 0.02 0.35 0.22 0.58 9.72
Source: Bannock County Assessors Office
1) Overlapping rates are those of local and county governments that apply to owners within the City of Chubbuck.
73
City of Chubbuck
Principal Taxpayers
September 30, 2025
2025 2016
Source: Bannock County Assessors Office
74
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 75,187,000 1 38.47% 20,597,136 1 20.77%
CHUBBUCK ARARTMENTS LLC APARTMENTS 27,726,000 2 14.18%
SHJH LLC REAL ESTATE INVESTMENTS 19,410,000 3 9.93% 7,172,500.00 8 7.23%
CHUBBUCK WHITAKER LLC REAL ESTATE INVESTMENTS 13,011,000 4 6.66%
RATLIFF, GARY G REAL ESTATE INVESTMENTS 11,406,000 5 5.84% 4,909,089 10 4.95%
WAL MART REAL ESTATE RETAIL 11,118,000 6 5.69% 11,555,700.00 4 11.65%
GRACE AT CHUBBUCK LLC ASSISTED LIVING 11,000,000 7 5.63%
AGREE LIMITED PARTNERSHIP REAL ESTATE INVESTMENTS 9,554,000 8 4.89%
SIMONCRE PROSPECTOR LLC REAL ESTATE INVESTMENTS 8,533,000 9 4.37%
AMERICAN MULTI -CINEMA INC#42360 ENTERTAINMENT 8,520,000 10 4.36%
PINE RIDGE MALL JC LLC RETAIL 12,113,491 2 12.21%
NEIBAUER CHUBBUCK HOLDINGS LLC REAL ESTATE INVESTMENTS 12,074,400 3 12.17%
ALLSTATE INSURANCE COMPANY INSURANCE/FINANCE 8,254,281 5 8.32%
HD DEVELOPMENT OF MARYLAND INC REAL ESTATE INVESTMENTS 8,250,900 6 8.32%
CARMIKE CINEMAS INC. ENTERTAINMENT 7,549,645 7 7.61%
TEKLE, HAILE REAL ESTATE INVESTMENTS 6,709,800 9 6.76%
Total Top Ten 195,465,000 100.00% 99,186,942 100.00%
Source: Bannock County Assessors Office
74
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
75
Governmental
Activities Business Type Activities 1)
Fiscal General Fund Note Water Notes Sewer Note Total Primary Estimated Per
Year Payable Sanitation Notes Water Bond DEQ DEQ Government Population Capita
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
2023 912,890 400,781 460,000 8,235,334 9,122,101 19,131,106 16,223 1179.26
2024 823,140 301,643 315,000 8,872,453 8,477,571 18,789,807 16,590 1132.6
2025 730,672 198,793 160,000 8,498,915 7,417,010 17,005,390 16,800 1012.23
Note: The estimated populations for years 2012 and 2014 were not available and so the most current estimate was used for these years
Source: (1) U.S. Census
75
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
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
2023 3,540,200 2,248,996 1,291,204 145,000 16,232
2024 4,063,157 2,316,359 1,746,798 145,000 11,761
2025 $ 4,369,378 2,258,517 $ 2,110,861 $ 155,000 $ 5,928 $
1) Total revenues ( including interest)
2) Total operating expenses exclusive of asset deprecation, lease amortization, and subscription amortization.
3) Includes principal and interest of revenue bonds only.
4) Pledge of Revenues requires the City to provide net revenues equal to not less than 1.25 times the average annual debt service on the bond.
76
170,514
165,443
159,175
157,182
158,420
159,507
160,445
161,232
156,761
160,928
Coverage
7.32
7.59
6.68
7.88
6.22
7.62
5.82
8.01
11.14
13.12
Pledge of
Revenues
Coverage
Po-dramant !dl
5.86
6.08
5.35
6.31
4.98
6.10
4.65
6.41
8.91
10.49
City of Chubbuck
Statistical Information
Water Fund
September 30, 2025
Schedule of Water Revenue and Production For Residential, Commercial, and Government
Accounts
Total Operating Revenues $ 4,081,963
Estimated number of active customers 5,017
Total water produced (in 1,000 gallons) 1,100,162
Schedule of Water Rates
Monthly Base Fee (by meter size)
Size Price Circuit Breaker
1" or less 32.10 $ 22.47
1.5 " 92.40
2" 143.01
3" 297.44
4" 487.49
6" 985.01
8" 1,542.69
10" 2,356.69
Volumetric charge: $1.54 per 1,000 gallons metered water.
Volumetric charge for circuit breaker: $1.08 per 1,000 gallons metered water.
Water Usage Summary (in 1,000 gallons)
Business 211,602
Car Wash 9,147
City Property 6,594
Church 18,436
County using city property 17,349
Duplex 15,025
Four Plex 30,585
Motel 6,766
Multiple Units 46,776
Unaccupied 924
Restaurant 17,797
School 3,838
Single Family 691,203
Three Plex 1,012
Trailer Park 23,108
1,100,162
77
CITY OF CHUBBUCK, IDAHO
Ten Largest Water System Customers
For The Fiscal Year Ended September 30, 2025
per 1,000 gallon used)
Avalon Parks Apartments Apartments 9 4,486 6.2%
LDS Church Church 10 4,131 5.7%
Total Top Ten Consumers 72,774 100.0%
Total Usage 1,100,162
78
0.4
0.4
6.6%
of Total
Water Top Ten of Total
Customer Business Type Rank Usage Consumers Usage
JRN Construction Construction 1 10,075 13.8% 0.9%
Circle Inn Trailer Park Mobile Home Park 2 9,348 12.8% 0.8%
Idaho Central Credit Union Financial Institute 3 8,922 12.3% 0.8%
Yellowstone Villiage Association Apartments 4 8,900 12.2% 0.8%
Camelot Estate Mobile Home Park 5 7,931 10.9% 0.7%
Seven Synergy LLC Car Wash 6 7,372 10.1% 0.7%
Pheasant Ridge HOA Inc. Residential Development 7 5,902 8.1% 0.5%
Pine Ridge Idaho LLC Apartment Complex 8 5,707 7.8% 0.5%
Avalon Parks Apartments Apartments 9 4,486 6.2%
LDS Church Church 10 4,131 5.7%
Total Top Ten Consumers 72,774 100.0%
Total Usage 1,100,162
78
0.4
0.4
6.6%
City of Chubbuck
Statistical Information
Sewer Fund
September 30, 2025
Schedule of Sewer Revenue For Residential, Commercial, and Government Accounts
Total Operating Revenues $ 6,128,375
Schedule of Sewer Rates
Monthly Base Fee
Regular Circuit Breaker
Residential $ 56.61 $ 39.63
NWSI Residential 10.45 -
Commercial rate for businesses North of the Interstate is $8.00 per $1,000 gallons of water used.
Commercial rate for businesses South of the Interstate is $9.39 per $1,000 gallons of water used.
NWSI Commercial rate is winter water average usage divided by $6.85 and multiplied by $10.45.
79
Deaton & Company, Chartered
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 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, 2025, 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 25,
2026.
Report on Internal Control Over Financial Reporting
In planning and performing our audit, we considered City of Chubbuck's internal control over financial reporting
as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of City of Chubbuck's internal
control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the City of
Chubbuck's internal control over financial reporting.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements
will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or,
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that have not been
identified. We did not identify any deficiencies in internal control over financial reporting, that we would consider
to be a significant deficiency in internal control over financial reporting.
Report on 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 25, 2026
Deaton & Company, Chartered
Certified Public Accountants
215 North 9th, Suite A
Pocatello, ID 83201-5278
208)232-5825
Members cf the Idaho Society of Certified Public Accountants
Members of the American Institute of Certified Public Accountants
Honorable Mayor and City Council
City of Chubbuck
PO Box 5604
Chubbuck, ID 83202
We have audited the financial statements of the governmental activities, the business -type activities, the
aggregate discretely presented component units, each major fund, and the aggregate remaining fund
information of City of Chubbuck for the year ended September 30, 2025. Professional standards require
that we provide you with information about our responsibilities under generally accepted auditing standards
and, if applicable, Government Auditing Standards and the Uniform Guidance), as well as certain
information related to the planned scope and timing of our audit. We have communicated such information
in our letter to you dated October 20, 2025. Professional standards also require that we communicate to
you the following information related to our audit.
Significant Audit Findings
Qualitative Aspects of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. The significant
accounting policies used by City of Chubbuck are described in Note 1 to the financial statements. The City
has implemented the newest accounting policies that were adopted during the year as of September 30,
2025. The City has implemented GASB Statement up to GASB statement No. 97. We noted no
transactions entered into by City of Chubbuck during the year for which there is a lack of authoritative
guidance or consensus. All significant transactions have been recognized in the financial statements in the
proper period.
Accounting estimates are an integral part of the financial statements prepared by management and are
based on management's knowledge and experience about past and current events and assumptions about
future events. Certain accounting estimates are particularly sensitive because of their significance to the
financial statements and because of the possibility that future events affecting them may differ significantly
from those expected. The most sensitive estimate(s) affecting the Government-Wide's and enterprise fund
financial statements were:
Management's estimate of the life expectancies of capital assets, which were based on
managements' experience and like kind asset lives. We evaluated the key factors and
assumptions used to develop the life expectancies of capital assets in determining that it is
reasonable in relation to the financial statements taken as a whole.
The financial statement disclosures are neutral, consistent, and clear.
Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our
audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the
audit, other than those that are clearly trivial, and communicate them to the appropriate level of
management. Management has corrected all such misstatements. In addition, none of the misstatements
detected as a result of audit procedures and corrected by management were material, either individually or
in the aggregate, to each opinion unit's financial statements taken as a whole.
Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing
matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or
the auditor's report. We are pleased to report that no such disagreements arose during the course of our
audit.
Management Representations
We have requested certain representations from management that are included in the management
representation letter dated March 25, 2026.
Management Consultations with Other Independent Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting
matters, similar to obtaining a "second opinion" on certain situations. If a consultation involves application
of an accounting principle to City of Chubbuck's financial statements or a determination of the type of
auditor's opinion that may be expressed on those statements, our professional standards require the
consulting accountant to check with us to determine that the consultant has all the relevant facts. To our
knowledge, there were no such consultations with other accountants.
Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing
standards, with management each year prior to retention as City of Chubbuck's auditors. However, these
discussions occurred in the normal course of our professional relationship and our responses were not a
condition to our retention.
Other Matters
We applied certain limited procedures to the management discussion and analysis, schedules of budget
and actual, and pension schedules, which are required supplementary information (RSI) that supplements
the basic financial statements. Our procedures consisted of inquiries of management regarding the
methods of preparing the information and comparing the information for consistency with management's
responses to our inquiries, the basic financial statements, and other knowledge we obtained during our
audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide
any assurance on the RSI.
We were engaged to report on combining statements, which accompany the financial statements but are
not RSI. With respect to this supplementary information, we made certain inquiries of management and
evaluated the form, content, and methods of preparing the information to determine that the information
complies with accounting principles generally accepted in the United States of America, the method of
preparing it has not changed from the prior period, and the information is appropriate and complete in
relation to our audit of the financial statements. We compared and reconciled the supplementary information
to the underlying accounting records used to prepare the financial statements or to the financial statements
themselves.
We were not engaged to report on the statistical and introductory sections, which accompany the financial
statements but are not RSI. Such information has not been subjected to the auditing procedures applied in
the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any
assurance on it.
Restriction on Use
This information is intended solely for the information and use of City Council, mayor, and management of
City of Chubbuck, and is not intended to be, and should not be, used by anyone other than these specified
parties.
Very truly yours,
Deaton & Company, Chartered
1—
Pocatello, Idaho
March 25, 2026