HomeMy WebLinkAbout2014CITY OF CHUBBUCK, IDAHO
AUDITED FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014
Certified Public Accountants
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014
TABLE OF CONTENTS
Page
Title Page
1
Table of Contents
2-3
Introductory Section
21
Letter of Transmittal
4-6
List of Principal Officials
7
Organizational Chart
8
Financial Section
25
Independent Auditor's Report
9-10
Management Discussion and Analysis
11-19
Statements of Net Position
20
Statements of Activities
21
Balance Sheets - Governmental Funds
22
Statements of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
23-24
Statements of Position - Proprietary Funds
25
Statements of Revenues, Expenses, and Changes in Net Position - Proprietary
26
Statements of Cash Flows - Proprietary Funds
27-28
Statement of Fiduciary Net Position - Recreational Program Fund
29
Statement of Changes in Fiduciary Net Position - Recreational Program Fund
30
Notes to Financial Statements
31-44
Required Supplementary Information
45
Budgetary Comparison Schedule - General Fund
46
Notes to Required Supplementary Information
47
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014
TABLE OF CONTENTS - CONTINUED
Page
Other Supplementary Information 48
Combining Balance Sheet - Nonmajor Governmental Funds 49
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Nonmajor Governmental Funds 50
Budgetary Comparison Schedule - Nonmajor Governmental Funds 51
Statistical Section 52
Statistical Section - Table of Contents 53
Financial Trends 54-61
Revenue Capacity 62-65
Debt Capacity 66-68
Operating Information 69-70
Compliance Section 71
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 72-73
Schedule of Findings and Responses 74
CHUBBUCK
1 0 A H 0
www.cityofchubbuck. us
5160 Yellowstone, PO Box 5604
Chubbuck, 1D 83202
(208) 237-2400 phone
(208) 238-2371 fax
MAYOR
Kevin England
March 27, 2015
COUNCIL NI EMBERS
Kermit G. Morrison
Ryan Lewis
Josh Ellis
Brent Marshall
The Honorable Mayor Kevin England, Members of the City Council, and Citizens of the City of
Chubbuck:
Idaho State Law requires that all general-purpose local governments with an annual budget that exceeds
two hundred fifty thousand dollars submit copies of their audited financial statements to the legislative
council. The statements must be presented in conformity with generally accepted accounting principles
(GAAP) and audited in accordance with generally accepted auditing standards (GARS) by a firm of
licensed certified public accountants. Pursuant to those requirements, we hereby issue the comprehensive
annual financial report for the City of Chubbuck for the fiscal year ended September 30, 2014.
Management assumes full responsibility for the completeness and reliability of the information contained
in this report, based upon a comprehensive frame -work of internal control that is established for this
purpose. Because the cost of internal control should not exceed anticipated benefits, the objective is to
provide reasonable, rather than absolute, assurance that the financial statements are free of any material
misstatements.
Deaton & Company, Chartered, a firm of licensed certified public accountants has issued an unmodified
opinion on the City of Chubbuck's financial statements for the year ended September 30, 2014. 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.
4
Profile of the City of Chubbuck
The City of Chubbuck (population 14,125) was incorporated in 1950. Chubbuck is located in the
southeastern portion of the State of Idaho.
Chubbuck has a land area of 4.19 square miles and is bordered by the City of Pocatello, with its own
population of 54,350. The City is located in Bannock County with a 2013 estimate census population of
83,249. 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 terns, with two of the Council
members standing for election every two years.
The City of Chubbuck provides a full range of services. These services include Public Safety (police, fire,
animal control, and building inspection); Environmental Health (sanitation, water, waste water treatment
and storm water management); Transportation (street & highway maintenance and traffic engineering);
Recreational (parks and recreation); Neighborhood Quality (engineering, planning and development,
community services) and Administration (mayor/council, finance, elections, human resources, legal risk
management, and information technology). In addition to general government activities, the Mayor and
City Council exercise, or have the ability to exercise, oversight of the Chubbuck Development Authority,
a legally separate corporation. Therefore, its activities are included as a separate component unit in the
reporting entity.
The annual budget serves as the foundation for the City of Chubbuck's financial planning and control.
After reviewing service levels from the previous fiscal year, the Council analyzes draft budget requests
during May. The Chief Financial Officer and Mayor are responsible for preparing a draft budget for the
Council. The budget is prepared by fund, function and activity, and includes information on the past year,
current year estimates and requested appropriation for the next fiscal year. Prior to August 1, the City's
Chief Financial Officer and the Mayor submit the proposed budget to the City Council for review. The
City Council holds public hearings and may add to, subtract from or change the proposed budget, but may
not change the form of the budget. Prior to August 30, the budget is legally enacted through passage of
the annual appropriation ordinance (not in excess of the proposed budget) by the City Council.
Expenditures may not exceed budgeted appropriations at the fund level. City management can legally
amend or transfer appropriations within individual funds but not between funds which requires the
approval of the City Council in a budget amendment, which follows a public notice, public hearing and
amended ordinances adoption process similar to the adoption of the original budget, Budgets are
integrated into the accounting system to facilitate management control during the year.
The Council reviews service levels for all departments prior to entertaining budget requests for the next
fiscal year. Revenue projections receive equal attention and the Council makes budget decisions sufficient
to balance the budget against projected revenues. Cash balances and budget to actual trends are monitored
monthly.
The preparation of the comprehensive annual financial report was made possible by the dedicated service
of the entire staff of the City and, in particular, the Clerk's Office. Each member of these departments has
our sincere appreciation for the contributions made in the preparation of this project. Credit also must be
given to the Mayor and the City Council for their support for maintaining high standards of
professionalism in the management of the City of Chubbuck's finances.
Respectfully submitted March 27, 2015
Rich Morgan
City Clerk
Daniel Christensen
Finance Clerk
CITY OF CHUBBUCK, IDAHO
List of Principal Officials
SEPTEMBER 30, 2014
Title Name
Mayor
Council President
Council Member
Council Member
Council Member
Elected Officials
City Officials
City Attorney
Public Works Director
Public Works Superintendent
City Clerk/Treasurer
Human Resource Officer
Financial Officer
City Planner
Police Chief
Computer Information Systems
Parks & Recreation
Fire Chief
7
Kevin England
Ryan Lewis
Kermit Morrison
Josh Ellis
Brent Marshall
Tom Holmes
Steven Smart
Bryan Hall
Rich Morgan
Eric Jablonski
Dan Christensen
Paul Andrus
Randy Severe
Andy Despain
Bill Guinn
Eric King
DIREC
CITY OF CHUBBUCK
ORGANIZATION CHART
HUMAN FINANCE ANIMAL
COMPUTER ENGINEERING ii PLANNING STREET
UTILITIES
PARKS &
WATER I ( SEWER ! I SANITATION
UTILITY BILLING
Deaton & Company, Chartered - -
Cer hied Public Accountant
'15 North yth. Sunt .3
Pocatello, Idaho x? 20 i 52-r
ccaffqm
�Zn812r_ct2c —
titen'b:r> .d 1n. cap^ �,• i,m .1 � rrtioed P,i� . a.. _
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and Members of the City Council
City of Chubbuck, Idaho
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business -type activities, the
aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the
City of Chubbuck as of and for the year ended September 30, 2014, and the related notes to the financial statements,
which collectively comprise the City's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
accounting principles generally accepted in the United States of America; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from
material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in
accordance with auditing standards generally accepted in the United States of America and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on
the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial
position of the governmental activities, the business -type activities, the aggregate discretely presented component units,
each major fund, the aggregate remaining fund information, and the respective budgetary comparison for the General
Fund, the Street Fund and the other major special revenue funds of the City of Chubbuck, as of September 30, 2014, and
the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's discussion and
analysis and ' budgetary comparison information on pages 10-18 and 45-46 be presented to supplement the basic
financial statements. Such information, although not a part of the basic financial statements, is required by the
Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited
procedures to the required supplementary information in accordance with auditing standards generally accepted in the
United States of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management's responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an
opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient
evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
City of Chubbuck's basic financial statements. The introductory section, combining and individual nonmajor fund financial
statements and statistical section, are presented for purposes of additional analysis and are not a required part of the
basic financial statements.
The 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 2013 audited financial statements
and, in our report dated March 28, 2014, we expressed unqualified opinions on the respective financial statements of the
governmental activities, the business -type activities, the aggregate discretely presented component units, each major
fund, and the aggregate remaining fund information. This information is consistent, in all material respects, with the
audited financial statements from which it has been derived.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the
basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 26, 2015, 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 26, 2015
City of Chubbuck
Management's Discussion and Analysis
For the Year Ended September 30, 2014
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,
2014. We encourage readers to consider the information presented here in conjunction with additional
information that we have furnished in our letter of transmittal.
Financial Highlights
• The assets of the City of Chubbuck exceed its liabilities at the close of the most
recent fiscal year by $37,931,794 (net position).
• At the end of the current fiscal year, unassigned fund balances for the general fund
was $2,933,821 or 45 percent of total general fund expenditures.
• The governments net position increased by $4,530,733. Approximately 30 percent
of this increase, $1,300,104, is attributed to capital contributions from the Chubbuck
Development Authority.
• In the City's business -type activities, operating revenues decreased by $191,575.
And operating expenses decreased by $180,231. These decreases are due to a
combination of charges for services, personnel benefits, insurance, repairs and
maintenance, and services used.
• During the current fiscal year, City of Chubbuck's debt had a decrease of $623,108.
(Including compensated absences). This was primarily due to elimination of the
capital lease obligation and reduction of bonds and notes payable.
• The Chubbuck Impact Area Waste Water Collection Authority has been blended with
the governmental activities in the primary government do to the implementation of
GASB Statement No. 61.
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)
governmental -wide financial statements, 2) fund financial statements and 3) notes to the financial
statements. This report also contains other supplementary information in addition to the basic financial -
statements themselves.
Government -wide financial statements. The government -wide financial statements are designed to
provide readers with a broad overview of the City's finances, in a manner similar to a private -sector
business.
The Statement of Net Position presents information on all of the City's assets, deferred outflows and
liabilities with deferred inflows, with the difference between each reported as net position. Over time,
increases or decreases in net position may serve as a useful indicator of whether the financial position of
the City's is improving or deteriorating.
The Statement of Activities presents information showing how the City's net position changed during
the fiscal year. All changes in the assets are reported when the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported
19.
in this statement for some items that will only result in cash flows in the future fiscal periods (e.g.
uncollected taxes and earned but unused compensated absences).
Both of the government -wide financial statements distinguish functions of the City of Chubbuck that are
principally supported by taxes and intergovernmental revenues (governmental activities) from functions
that are intended to recover all or a significant portion of their costs through user fees and charges
(business -type activities). The governmental activities of the City of Chubbuck include general
government and administration, public safety, parks, and highway streets and roads. The business -type
activities of the City include water and sewer, and sanitation operations.
Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated from specific activities or objectives. The City, like other state
and local governments, uses fund accounting to ensure and demonstrate compliance with finance -
related legal requirements. All of the funds of the City of Chubbuck can be divided into three categories:
governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same
functions reported as governmental activities in the government -wide financial statements.
However, unlike the government -wide financial statements, governmental fund financial
statements focus on current sources and uses of spendable resources, as well as on balances of
spendable resources available at the end of the fiscal year. Such information may be useful in
evaluation a government's near-term financing equipments.
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, which is the City's
only major governmental fund. Data from the other six 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 nonmajor 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 19-23 of this report.
Proprietary Funds. The City of Chubbuck maintains two different types of proprietary
funds. Enterprise funds are used to report the same functions presented as business -type
activities in the government -wide financial statements. The City of Chubbuck uses
enterprise funds to account for its Water department, Waste Water department, and
Sanitation department. Internal service funds are an accounting device used to accumulate
12
and allocate costs internally among the City of Chubbuck's various functions. The City of
Chubbuck uses an internal service fund to account for its central garage operations. Because
this service predominantly benefits business type functions rather than the governmental
type functions, it has been included within the business type activities in the financial
statements.
Proprietary funds provide the same type of information as the government -wide financial
statements, only in more detail. The proprietary fund financial statements include the
operational and financial date from both the types of funds. The Water, Sewer, 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 24-27 of this report.
Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of
parties outside the government. Fiduciary funds are not reflected in the government -wide
financial statements because the resources of those funds are not available to support the City
of Chubbuck's own programs. The accounting used for fiduciary funds is similar to proprietary
funds.
The City of Chubbuck adopts an annual appropriated budget for its fiduciary fund. However, the
City does not provide budgetary comparison schedules for fiduciary funds.
The fiduciary fund financial statements can be found on pages 28-29 of this report.
Notes to the Financial Statements. The notes provide additional information that is essential
to a full understanding of the data provided in the government -wide and fund financial
statements. The notes to the financial statements may be found on pages 30-43 of this report.
Other information. In addition to the basic financial statements and accompanying notes, this
report also presents certain required supplementary information concerning the City's budgeted
expense and revenues versus actual expenses and revenues.
The combining statement referred to earlier in connection with non -major governmental funds
is presented following the required supplementary information on budget comparison.
Government -wide Financial Analysis
As noted earlier, net position may serve over time as useful indicator of government's financial position.
In the case of the City of Chubbuck, assets exceeded liabilities by $37,931,794 as of September 30,
2014.
The largest portion of the City of Chubbuck's net position reflects its investments in capital assets (e.g.,
land, building, equipment, improvements, work -in -process and infrastructure), less any debt used to
acquire those assets that is still outstanding.
13
The City uses these capital assets to provide service to citizens; consequently these assets are not
available for future spending. Although the City's investment in capital assets is reported net of related
debt, it should be noted that the resources needed to repay this debt must be provided from other
sources, since the capital assets themselves cannot be used to liquidate these liabilities.
Below is a summary of the City of Chubbuck's Net Position statement.
City of Chubbuck's Net Position
An additional portion of the City of Chubbuck's net position $167,481, represent resources that are
subject to external restriction on how they may be used. The remaining balance of unrestricted net
position $20,276,221, may be used to meet the governments' on going obligation to citizens and
creditors.
As of September 30, 2014, the City is able to report positive balances in all three categories of net
position, both for the government as a whole, as well as for its separate governmental and business -
type activities.
At the end of the current fiscal year, 96 percent of the liabilities are made up of noncurrent liabilities.
This primarily represents notes payable and bonds discussed in note 9 pages 39-42 of the notes to
financial statements.
Governmental activities. Governmental activities' key elements are broken down in the following
charts. Government activities increased net position by $1,759,603 and business -type activities
increased net position by $2,771,130.
The City of Chubbuck's direct charges to users of governmental services made up $374,750. These
charges are for park rentals, building permits and other fees related to public safety and administration.
Public safety, the largest portion in fiscal year 2014, includes the fire department and police department
and accounts for $4,106,243 in expenditures. The second largest portion of expenditures is the building
inspection and street department which accounts for $1,623,404. General government accounts for
$443,813 in expenditures.
14
Governmental Activities
Business Activities
Total
2014
2013
2014
2013
2014
2013
ASSETS
Current and other assets $
4,130,936 S
3,592,593
S 33,260,796 S
31,563,509
S 37,391,732 S
35,156,102
Capital assets
30,272,991
28,950,913
9,286,242
8,914,109
39,559,233
37,865,022
Total assets
34,403,927
32,543,506
42,547,038
40,477,618
76,95Q965
73,021,124
LIABILITIES
Long-term liabilites outstanding
18,590,186
18,551,345
19,031,165
19,729,498
37,621,351
38,280,843
Other liabilites
286,206
246,445
1111614
1114991
1,397,820
1,361,436
Total habdrtes
18,876,392
18,797,790
20,142,779
20,844,489
39,019,171
39,642,279
NET POSITION
Net investment in captial assets
11.396,599
10,153,123
6,091,493
5,460,743
17,488,092
15,613,866
Restricted
-
-
167,481
165,781
167.481
165,781
Unrestricted
4,130,936
3,592,593
16,145,285
14,DO6.605
20,276,221
17,599,198
Total net position 5
15,527,535 S
13,745,716
$ 22,404,259 S
19,633,129
S 37,931,794 S
33.378,845
An additional portion of the City of Chubbuck's net position $167,481, represent resources that are
subject to external restriction on how they may be used. The remaining balance of unrestricted net
position $20,276,221, may be used to meet the governments' on going obligation to citizens and
creditors.
As of September 30, 2014, the City is able to report positive balances in all three categories of net
position, both for the government as a whole, as well as for its separate governmental and business -
type activities.
At the end of the current fiscal year, 96 percent of the liabilities are made up of noncurrent liabilities.
This primarily represents notes payable and bonds discussed in note 9 pages 39-42 of the notes to
financial statements.
Governmental activities. Governmental activities' key elements are broken down in the following
charts. Government activities increased net position by $1,759,603 and business -type activities
increased net position by $2,771,130.
The City of Chubbuck's direct charges to users of governmental services made up $374,750. These
charges are for park rentals, building permits and other fees related to public safety and administration.
Public safety, the largest portion in fiscal year 2014, includes the fire department and police department
and accounts for $4,106,243 in expenditures. The second largest portion of expenditures is the building
inspection and street department which accounts for $1,623,404. General government accounts for
$443,813 in expenditures.
14
Below is summary of the City of Chubbuck's Changes in Net Position.
City of Chubbuck's Changes in Net Position
Governmental Actr t1*s Bus s It. Total
2014 2013 2014 2013 2014 2013
REVENUES
Progrsm revenues:
Charges for services
Operating grants and contributions
Goner al '--
Property .saws nd sales tax
Other taxes
Other
Capital Contribution.
CIAWWC Au Ih rsy
Transfers m (out)
Total Revenues
EXPENSES
Gene ralgovernm ens
Public safety
Building inspection and street
Park. and --,-
Health, welfare, -d
Water
Sewer
Sanitation
CIAW W C Authorit y
Total expenses
INCREASE IN NET POSITION
NET POSITION beginning
P,.., Period Adjustment
NET POSITION ending
5 374,750
5 399,650
5 7,243,338
5 7,414,871
5 7,616,088
5 7,614,721
33,200
128,818
-
-
33,200
128,818
5,292,450
4,982,426
-
5,292,450
4,982,426
1,173,091
1,238.673
-
-
1,173,091
1,238,673
86,171
184,221
574
3,044
86,745
187,265
1,286,887
2,254,772
13,217
261,081
1,300,104
2,515,853
228,000
228,000
-
-
228,000
228,000
(3,000)
3,000
8,471,549
9,416,760
71260,129
7,678,996
15,731,676
17,095,756
443,813
352,910
-
-
443,813
352,930
4,106,243
4,096,230
-
-
4,106,243
4,096,230
1,623,404
1.286,377
-
-
1.623,404
1,286,377
484,041
494,692
-
-
484,041
494,692
51,515
44,702
-
-
51,515
44,702
-
-
1,560,406
1,466,297
1,560,406
1,466,297
-
-
1,709,310
2,072,020
1,709,310
2,072,020
-
-
1,219,283
1,116,071
1,219,283
1,116,071
2,930
4,574
2,930
4,574
6,711,946
6,279,465
4,488,999
4,654,388
11,200,945
10,933,873
1,759,603
3,137,275
2,771,130
3,024,608
4,530,733
6,161,883
13,745,716
30,606,442
19,633,129
16,575,096
33,378,845
27,183,538
22,216
33,425
22,216
33,425
515,527,535
513,745,717
522,404,259
519,633,129
537,931,794
533,378,846
Revenue by Source - Government Activities
1,286,887 2.B 000 $374,750
3 -JO
15
Chngesfor services
g0peratinggrants and contributions
e Property taxes and sales tax
Other taxes
•Other
to Capital Contributions
■ CIA W W C Authority
Expenses and Program Revenues — Governmental Activities
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
el ya�e� 5'��ee� °�r�t `c
0
aha
ta\�o �11� Lam`°�
�e�e
0J
■ Expenses
■ Revenue
• The majority of the City of Chubbuck's governmental activities' revenue is received from
property and sales tax (66 percent). This amount would be 78 percent of the revenue received
without this fiscal year's capital contributions from Chubbuck Development Authority.
• When all taxes are added together, they make up 72 percent of the budget or 78 percent
without the current fiscal years' capital contributions from Chubbuck Development Authority.
• When revenues are compared to expenses, it shows that none of the City of Chubbuck's
programs are self supporting. They all require tax support to continue at their current level of
service.
For the most part, increases in expenses closely paralleled inflation and growth in the demand for
services. No significant transaction occurred outside of the Major funds for fiscal year 2014. No
significant losses or revenues were received during the year.
The major fund in the City is the general fund. Significant transactions within the general fund this year
mainly consisted of payments of personnel, law enforcement expenses, fire department expenses, and
street maintenance.
16
Business -type activities. Businesses -type activities' key elements are broken down in the
following charts.
Revenue by Source - Business Type
Activities
7.90946E-05
.0.001821244
4100.998099662
■Charges for services
■ Other
■ Capital Contributions
Expenses and Program Revenues - Business Type Activities
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$ 500,000
5 -
Water Sewer Sanitation
Revenue
M Expense
• One of the major sources of the City of Chubbuck's business -type activities' revenue is
received from charges for services (95 percent). Currently, the City of Chubbuck's business
type activities do not use property taxes for any type of funding.
• The second major source is capital contributions (1 percent). These contributions were
received by water only.
• When revenues are compared to expenses, it shows that all of the City of Chubbuck's
programs are self-supporting.
17
Financial Analysis of the Government's Funds
As noted earlier, the City of Chubbuck uses fund accounting to ensure and demonstrate compliance with
finance -related legal requirements.
Governmental funds. The focus of the City of Chubbuck's governmental funds is to provide
information on near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the City of Chubbuck's financing requirements. In particular, unreserved fund balance
may serve as a useful measure of the government's net resources available for spending at the end of
the fiscal year.
At the end of the current fiscal year the City of Chubbuck's governmental funds reported combined
ending fund balances of $3,445,517. Of which $2,933,821 of this total is unassigned fund balance (85
percent).
The general fund is the chief operating fund of the City of Chubbuck. In the general fund, the City
budgeted for no change in the fund balance. Operating revenues were less than operating
expenditures. However, due to other financing sources and uses the net change in the general fund
increased $225,084 for fiscal year 2014. As a measure of liquidity, it may be useful to compare both
unassigned fund balance and total fund expenditures. Unassigned fund balance represents 45 percent of
total general fund expenditures.
Proprietary funds. The City of Chubbuck's proprietary fund statements provide the same type of
information found in the government -wide financial statements, but in more detail.
Unrestricted net positions of the respective proprietary funds are Water: $5,531,885, Sewer:
$8,415,640, and Sanitation: $941,460. The water funds had an increase in net position of $875,927; the
sewer fund had an increase in net position of $1,383,806; and the sanitation fund and an increase in net
position of $526,196.
General Fund Budgetary Highlights
The City made no revisions to the original appropriations approved by the City Council. As stated earlier
actual revenues and expenses were both less than budget. The difference accounts for a $225,084
increase in the general fund balance. The major variance in expenditures was due to a decrease in the
General, Law enforcement, and Parks and recreation expenditures.
Capital Asset and Debt Administration
Capital assets. The City of Chubbuck's investment in capital assets for its governmental and business -
type activities as of September 30, 2014 amounts to $20,967,434 (net of accumulated depreciation).
This investment in capital assets includes land, buildings, machinery, equipment, other improvements,
and infrastructure. The total increase in the City of Chubbuck's investment in capital assets for the fiscal
year was $1,874,226. The increase in assets includes contributions from the Chubbuck Development
Authority of $1,300,104 and the CIAWWC Authority's capital assets blended into governmental activities
in the amount of $18,560,669.
18
Land
Building & Imp.
Machinery& Equip.
Infrastructure
Work in Progress
CIAW W CA -W I P
Office Equipment
'Nater Rights
Total
City of Chubbuck's Capital Assets
Governmental Activities
Business Activities
2014
2013
2014
2013
S 266,080
S 234,319
S 495,573 S
495,573
3,367,334
3,248,868
6,115,456
6,102,239
3,999,097
3,930,204
6,712,272
6,441,028
3,148,718
3,258,383
5,789,495
4,392,943
-
-
18, 560, 669
18,40a,131
-
-
-
51,625
51,625
2,421,167
1,822,507
S 35,131,393
S 33,472,848
S 15,796,093 S
14,912,972
2014
S 761,653
9,482,790
10, 711, 369
3,148,718
5,799,495
18,560,669
51,625
2,421,167
S 50,927,486
Total
2013
$ 729,892
9,3S1,107
10,371,232
3,258,383
4,392,943
18,408,131
51,625
1,822,507
$ 48,385,820
Additional information on the City of Chubbuck's capital assets can be found in note 8 on page 39 of this
report.
Long-term debt. At the end of the current fiscal year, the City of Chubbuck had total debt outstanding
of $37,621,351. Of this amount, $16,436,562 is comprised of notes to the Department of Environmental
Quality for waste water infrastructure. Long-term debt also includes bonds with a remaining balance of
$1,575,909 used for purchasing water shares.
The State of Idaho mandates a general obligation debt limit of 2% of the assessed market value of
taxable property within the City boundaries. The City of Chubbuck currently has no general obligation
debt. The limit totaled $9,091,090 on September 30, 2014. Therefore $9,091,090 is available for future
general obligation indebtedness. Additional information on the City of Chubbuck's long-term debt can
be found in note 9 on pages 39-42 of this report.
Request for information
The financial report is designed to provide our patrons of the City of Chubbuck and creditors with a
general overview of the City's finances and to show the City's accountability for the money it receives. If
you have question about this report or need any additional financial information, contact the Mayor and
City Council at 5602 Yellowstone Ave, Chubbuck, ID 83202, telephone (208)237-2400.
19
0
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
SEPTEMBER 30, 2014
20
See accompanying notes to financial statements
Governmental
Business -type
Development
Activities
Activities
Total
Authority
ASSETS
Current assets
Cash and cash equivalent
$ 3,298,459
$ 13,866,171
$ 17,164,630
$ 2,061,683
Property taxes receivable
351,707
-
351,707
109,532
Intergovernmental receivables
250,255
-
250,255
-
Other accounts receivable
230,515
648,651
879,166
-
4,130,936
14,514,822
18,645,758
2,171,215
Noncurrent assets
Restricted assets
Bond reserves
-
167,481
167,481
-
Utility deposits
-
243,805
243,805
-
Advance to joint venture
-
18,334,688
18,334,688
-
Capital assets
35,131,393
16,055,736
51,187,129
-
Accumulated depreciation
(4,858,402)
(6,769,494)
(11,627,896)
-
30,272,991
28,032,216
58,305,207
-
34,403,927
42,547,038
76,950,965
2,171,215
LIABILITIES
Current liabilities
Accounts payable
136,040
96,152
232,192
236,099
Accrued payroll
86,292
32,453
118,745
-
Accrued bond interest
-
5,382
5,382
-
Current portion compensated absences
63,874
26,735
90,609
-
Current portion of bonds payable
-
122,355
122,355
-
Current portion of long-term debt
-
584,732
584,732
-
Water deposits
-
243,805
243,805
-
286,206
1,111,614
1,397,820
236,099
Noncurrent liabilities
Bonds payable
-
1,575,909
1,575,909
-
Note payable
-
17,348,315
17,348,315
-
Accrued compensated absences
255,498
106,941
362,439
-
Advance payable
18,334,688
-
18,334,688
-
18,590,186
19,031,165
37,621,351
-
18,876,392
20,142,779
39,019,171
236,099
NET POSITION
Net investment in capital assets
11,396,599
6,091,493
17,488,092
-
Restricted for bond service
-
167,481
167,481
-
Unrestricted
4,130,936
16,145,285
20,276,221
1,935,116
$ 15,527,535
$ 22,404,259
$ 37,931,794
$ 1,935,116
20
See accompanying notes to financial statements
Functions/Programs
Primary Government:
Governmental activities:
General government
Law enforcement
Fire control
Building inspection
Street
Parks and recreation
Health and welfare
Other special revenue funds
CIAWWC Authority
Business -type activities
Water
Sewer
Sanitation
Totai primary government
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Program Revenues
Operating
Charges for Grants and
Expenses Services Contributions
Total
Net
(Expense) Development
Revenue Authority
$ 443,813
$ 200,707 $
-
$ (243,106) $ -
2,771,003
-
14,800
(2,756,203) -
1,335,240
232,992
-
(1,102,248) -
172,439
-
-
(172,439) -
1,450,965
1,286,887
-
(164,078) -
484,041
7,203
-
(476,838) -
51,165
-
-
(51,165) -
350
-
18,400
18,050 -
2,930
-
-
(2,930) -
6,711,946
1,727,789
33,200
(4,950,957) -
1,560,406
2,422,542
13,217
875,353 -
1,709,310
3,093,116
-
1,383,806 -
1,219,283
1,727,680
-
508,397 -
4,488,999
7,243,338
13,217
2,767,556 -
$ 11,200,945
$ 8,971,127 $
46,417
$ (2,183,401) $
Component Unit:
Chubbuck Development Authority $ 1,910,565
$ 1,910,565
Net (expense)/revenue
General revenues
General property taxes and sales tax
Franchise fees
State sales and liquior taxes
Highway user's and road and bridge - restricted
Interest income
Proceeds from sale of assets
Other revenue
CIAWWC Authority
Transfers in (out)
NET CHANGE IN NET POSITION
BEGINNING NET POSITION
PRIOR PERIOD ADJUSTMENT
ENDING NET POSITION
$ (1,910,565)
$ (1,910,565)
General Business -type Development
Activities Activities Total Authority
$ (4,950,957) $ 2,767,556 $ (2,183,401) $ (1,910,565)
5,292,450
-
5,292,450
2,097,431
203,790
-
203,790
-
369,551
-
369,551
-
533,598
-
533,598
60,651
574
61,225
13,969
11,154
-
11,154
-
14,366
-
14,366
-
228,000
-
228,000
-
(3,000)
3,000
-
-
6,710,560
3,574
6,714,134
2,111,400
1,759,603
2,771,130
4,530,733
200,835
13,745,716
19,633,129
33,378,845
1,734,281
22,216 -
$ 15,527,535 $ 22,404,259
21
See accompanying notes to financial statements
22,216 -
$ 37,931,794 $ 1,935,116
CITY OF CHUBBUCK, IDAHO
BALANCE SHEET
GOVERNMENTALFUNDS
SEPTEMBER 30, 2014
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2013
FUND BALANCES
Committed - 511,696 511,696 490,894
Unassigned 2,933,821 - - 2,933,821 2,708,737
2,933,821 511,696 3,445,517 3,199,631
$ 3,391,240 $ $ 511,696 $ 3,592,593
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 $4,858,402.
Unavailable revenue represents amounts that were not available to fund current
expenditures and therefore are not reported in the funds
Property tax
Grant revenue
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Note Payable
Accrued compensated absences
Advance payable
Net position of governmental funds
22
See accompanying notes to financial statements
30,272,991 28,950,913
171,213 174,256
228,000 -
- (154,929)
(255,498) (244,935)
(18,334,688) (18,179,220)
$ 15,527,535 13,745,716
CIAWWC
Other
General
Authority
Governmental
Fund
Fund
Funds
Total
2013
ASSETS
_
Cash
$ 2,786,763
$ -
$ 511,696 $
3,298,459
$ 3,007,750
Accounts receivable
2,515
228,000
-
230,515
2,859
Property and sales taxes receivable
351,707
-
-
351,707
335,744
Intergovernmental receivables
250,255
-
-
250,255
246,240
$ 3,391,240
$ 228,000
$ 511,696 $
4,130,936
$ 3,592,593
LIABILITIES
Accounts payable
$ 136,040
$ -
$ - $
136,040
$ 78,125
Accrued payroll
86,292
-
-
86,292
79,347
Accrued compensated absences
63,874
-
-
63,874
61,234
286,206
-
-
286,206
218,706
DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - taxes
171,213
-
-
171,213
174,256
Unavailable revenues - other
-
228,000
-
228,000
-
171,213
228,000
-
399,213
174,256
FUND BALANCES
Committed - 511,696 511,696 490,894
Unassigned 2,933,821 - - 2,933,821 2,708,737
2,933,821 511,696 3,445,517 3,199,631
$ 3,391,240 $ $ 511,696 $ 3,592,593
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 $4,858,402.
Unavailable revenue represents amounts that were not available to fund current
expenditures and therefore are not reported in the funds
Property tax
Grant revenue
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Note Payable
Accrued compensated absences
Advance payable
Net position of governmental funds
22
See accompanying notes to financial statements
30,272,991 28,950,913
171,213 174,256
228,000 -
- (154,929)
(255,498) (244,935)
(18,334,688) (18,179,220)
$ 15,527,535 13,745,716
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTALFUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2013
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds from note payable
Proceeds from sale of assets
Transfers in (out)
NET CHANGE IN FUND BALANCES
BEGINNING FUND BALANCE
ENDING FUND BALANCE
216,930 (155,468)
20,802 82,264
CIAWWC
Other
- 155,468
- 155,468
175,281
General
Authority
Governmental
(3,000)
- (3,000)
-
Fund
Fund
Funds
Total
2013
REVENUES
General property taxes and sales tax
$ 5,295,493
$
$
$ 5,295,493
$ 4,984,949
Franchise fees
203,790
-
203,790
192,151
State sales and liquior taxes
369,551
369,551
419,354
Highway user's and road and bridge taxes
533,598
-
533,598
536,325
Parks revenue
2,668
-
2,668
1,720
Licenses, permits and fines
134,555
134,555
203,578
Grants
14,800
-
14,800
302,500
Fire protection and prevention
232,992
-
232,992
191,317
Leases and rents
66,152
-
66,152
90,843
Interest income
60,651
-
60,651
60,367
Donations
-
18,400
18,400
54,318
Charges for services
4,535
-
4,535
3,235
Other revenues
11,614
2,752
14,366
89,066
6,930,399
21,152
6,951,551
7,129,723
EXPENDITURES
General government
393,539
-
393,539
326,399
Law enforcement
2,695,807
-
2,695,807
2,669,035
Fire control
1,389,030
-
1,389,030
1,237,112
Building inspection
172,439
172,439
163,631
Street
1,356,339
1,356,339
1,054, 574
Parks and recreation
442,246
442,246
437,882
Health and welfare
51,165
51,165
39,552
Street guarantee fund
-
-
5,000
Court fund
-
-
350
350
150
Capital outlays
212,904
152,538
-
365,442
968,502
CIAWWC Authority
-
2,930
-
2,930
233,485
6,713,469
155,468
350
6,869,287
7,135,322
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds from note payable
Proceeds from sale of assets
Transfers in (out)
NET CHANGE IN FUND BALANCES
BEGINNING FUND BALANCE
ENDING FUND BALANCE
216,930 (155,468)
20,802 82,264
(5,599)
- 155,468
- 155,468
175,281
11,154 -
- 11,154
42,796
(3,000)
- (3,000)
-
8,154 155,468
- 163,622
218,077
225,084
20,802 245,886
212,478
2,708,737
$ 2,933,821 $
23
490,894 3,199,631
$ 511,696 $ 3,445,517
See accompanying notes to financial statements
(Continued)
O n07 4 CO
R O 4nn 11O
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Reconciliation of the change in fund balances - total governmental funds
to the change in net position of governmental activities:
Net change in fund balances - total governmental funds
Amounts reported for governmental activities in the Statement of Activities are different
because:
Governmental funds report capital outlays as expenditures while governmental activities
report depreciation expense to allocate those expenditures over the life of the assets. Capital
asset contributions from other entities are not recognized as a revenue for governmental
purposes, but are required to be recognized on the Statement of Activities:
Contributed capital assets
Capital asset purchases capitalized
Depreciation expense
Unavailable revenues are not recorded as current period receipts
The issuance of long-term debt (e.g., bonds, leases) provides current financial resources to
governmental funds, while the repayment of the principal of long-term debt consumes the
current financial resources of governmental funds. Neither transaction, however, has any
effect on net position. This amount is the net effect of these differences in the treatment of
long-term debt and related items
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
Change in net position
24
See accompanying notes to financial statements
2014
Total
$ 245,886
1,286,887
365,442
(352,467)
224,957
(539)
(10,563)
$ 1,759,603
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2014
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2013
25
See accompanying notes to financial statements
Internal Internal
Service Service
ASSETS
Water
Sewer
Sanitation
Total
2013
Funds 2014 Funds 2013
Current assets
Cash and cash equivalents
$ 5,423,058
$ 6,349,939
$ 2,093,174
$13,866,171
$12,290,425
$ - $
Accounts receivable
219,275
281,310
148,066
648,651
717,778
5,642,333
6,631,249
2,241,240
14,514,822
13,008,203
Noncurrent assets
Restricted assets
Bond reserves
167,481
-
-
167,481
165,781
Utility deposits
242,100
1,680
25
243,805
210,305
Advance to joint venture
-
18,334,688
-
18,334,688
18,179,220
-
Capital assets
8,684,379
4,136,220
2,975,494
15,796,093
14,912,971
259,643 259,643
Accumulated depreciation
(2,129,102)
(3,158,888)
(1,252,991)
(6,540,981)
(6,041,057)
(228,513) (217,448)
6,964,858
19,313,700
1,722,528
28,001,086
27,427,220
31,130 42,195
12,607,191
25,944,949
3,963,768
42,515,908
40,435,423
31,130 42,195
LIABILITIES
Current Liabilities
Accounts payable
34,151
40,639
16,010
90,800
166,025
5,352 1,618
Payroll payable
14,171
10,970
7,312
32,453
25,081
- -
Accrued compensated absences
12,425
12,425
1,885
26,735
21,851
Current portion of bonds payable
122,355
-
-
122,355
110,000
Accrued interest
-
-
5,382
5,382
5,764
Current portion of long-term debt
17,161
436,513
131,058
584,732
574,347
Water/ Sewer deposits
242,100
1,680
25
243,805
210,305
-
442,363
502,227
161,672
1,106,262
1,113,373
5,352 1,618
Noncurrent Liabilities
Revenue bonds payable,
net unamortized premium
1,575,909
-
-
1,575,909
1,705,619
- -
Note payable
217,672
16,000,049
1,130,594
17,348,315
17,936,475
Compensated absences
49,701
49,701
7,539
106,941
87,404
1, 843, 282
16, 049, 750
1,138,133
19, 031,165
19, 729,498
2,285,645
16,551,977
1,299,805
20,137,427
20,842,871
5,352 1,618
NET POSITION
Net investment in capital assets
4,622,180
977,332
1,722,503
7,322,015
6,804,847
31,130 42,195
Restricted for bond service
167,481
-
-
167,481
165,781
-
Unrestricted
5,531,885
8,415,640
941,460
14,888,985
12,621,924
(5,352) (1,618)
$ 10,321,546
$9,392,972
$2,663,963
22,378,481
$19,592,552
$ 25,778 $ 40,577
Adjustment to reflect the consolidation
of internal
service fund activities related
to enterprise
activities.
25,778
_$_22,404,259
25
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, 2014
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2013
OPERATING REVENUES
Service revenue
Revenue used as security
for revenue bond:
Charges for services
OPERATING EXPENSES
Salaries and wages
Personnel benefits
Repairs and maintenance
Supplies and tools
Travel, meetings, and training
Fuels and lubricants
Telephone and communications
Utilities
Treatment - Pocatello
Insurance
Other purchased services
Professional services
Bad debt
Depreciation
DPERATING INCOME
NONOPERATING REVENUE (EXPENSE)
Interest income
Interest expense
Miscellaneous expense
Gain (Loss) from asset disposal
Transfers in (out)
CAPITAL CONTRIBUTIONS
Developer contributions
CHANGES IN NET POSITION
BEGINNING NET POSITION
PRIOR PERIOD ADJUSTMENT
ENDING NET POSITION
(56,000) (100) (67,655) (123,755) (133,133)
13,217 13,217 261,081
13,217 - 13,217 261,081
875,927 1,383,806 526,196 2,785,929 3,035,759 (14,799) (11,151)
9,445,619 8,009,166 2,137,767 - 40,577 51,728
- - - 33,425
$ 10,321,546 $9,392,972 $2,663,963 $ 3,069,184 $ 25,778 $ 40,577
Adjustment to reflect the consolidation of internal
service fund activities related to enterprise funds (14,799)
Change in net position of business -type activities $2,771,130
26
See accompanying notes to financial statements
Internal
Internal
Service
Service
Water
Sewer
Sanitation
Total
2013
Funds 2014
Funds 2013
$ 724,278
$3,093,116
$1,642,424
$5,459,818
$ 5,534,038
$ 85,168
$ 65,214
1,698,264
-
1,698,264
1,815,619
88
-
2,422,542
3,093,116
1,642,424
7,158,082
7,349,657
85,256
65,214
566,955
419,260
231,443
1,217,658
1,181,561
-
-
247,296
186,621
99,095
533,012
562,163
5,932
4,377
267,787
62,195
307,141
637,123
701,341
30,721
21,265
34,293
11,839
92,525
138,657
102,003
6,082
5,074
8,808
3,066
2,201
14,075
7,300
4,026
905
19,362
4,393
63,811
87,566
86,135
28,676
20,597
3,551
2,562
2,559
8,672
9,087
-
-
160,697
35,648
3,703
200,048
169,939
13,553
13,082
-
826,513
-
826,513
993,042
-
-
-
-
-
45,725
15,699
-
-
15,699
15,842
23,512
38,877
12,580
74,969
76,061
3,389
3,816
494
7,699
8,466
-
-
152,483
114,420
233,021
499,924
483,181
11,065
11,065
1,503,832
1,709,210
1,048,573
4,261,615
4,441,846
100,055
76,365
918,710
1,383,906
593,851
2,896,467
2,907,811
(14,799)
(11,151)
574
-
-
574
644
(56,574)
-
(70,655)
(127,229)
(136,177)
(100)
(100)
-
-
-
-
2,400
3,000
3,000
-
(56,000) (100) (67,655) (123,755) (133,133)
13,217 13,217 261,081
13,217 - 13,217 261,081
875,927 1,383,806 526,196 2,785,929 3,035,759 (14,799) (11,151)
9,445,619 8,009,166 2,137,767 - 40,577 51,728
- - - 33,425
$ 10,321,546 $9,392,972 $2,663,963 $ 3,069,184 $ 25,778 $ 40,577
Adjustment to reflect the consolidation of internal
service fund activities related to enterprise funds (14,799)
Change in net position of business -type activities $2,771,130
26
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SFP1EMBER 30, 2013
CASH FLOWS FROM OPERATING ACTIVIT IES
Cash received from revenues
Cash paid to suppliers
Cash paid to employees
Net cash provided by operating activities
CASH FLOW FROM NONCAPITAL FINANCING ACTIVITIES
Transfer from (to) other funds
Internal loan from (to) other funds
Advance to joint venture
Change in restricted cash
Miscellaneous expenditure
Net cash (used) in noncapital financing activities
CASH FLOW FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Principal paid on capital debt
Interest paid on capital debt
Proceeds from sale of capital assets
Purchase of capital assets
Net cash provided (used) in capital and related
financing activities
CASH FLOW FROM INVESTING ACTIVITIES
Interest and dividend received
Net cash provided by financing activities
NET INCREASE IN CASH AND CASH EQUIVALENTS
BEGINNING CASH AND CASH EQUIVALENTS
ENDING CASH AND CASH EQUIVALENTS
27
See accompanying notes to financial statements
rnternar rnternar
Service Service
Water
Sewer
Sanitation
Total
2013
Funds 2014 Funds 2013
$2,481,401
$3,092,937
$1,645,172
$ 7,219,510
$ 7,380,029
$ 85,256 $ 65,214
(531,676)
(1,054,702)
(492,169)
(2,078,547)
(2,133,795)
(79,324) (60,837)
(800,174)
(592,349)
(326,354)
(1,718,877)
(1,715,161)
(5,932) (4,377)
1,149,551
1,445,886
826,649
3,422,086
3,531,073
- -
-
-
3,000
3,000
-
- -
-
(155,468)
-
(155,468)
102,849
- -
(1,700)
-
-
(1,700)
3,300
- -
-
(100)
-
(100)
-
- -
(1,700)
(155,568)
3,000
(154,268)
106,149
-
(133,970)
(436,513)
(124,647)
(695,130)
(390,651)
-
(56,574)
-
(71,037)
(127,611)
(196,381)
- -
-
-
-
-
2,400
(601,807)
(3,148)
(264,950)
(869,905)
(1,693,354)
- -
(792,351)
(439,661)
(460,634)
(1,692,646)
(2,277,986)
-
574
-
-
574
644
-
574
-
-
_ 574
644
- --
356,074
850,657
369,015
1,575,746
1,359,880
- -
5,066,984
5,499,282
1,724,159
12,290,425
10,930,545
- -
$5,423,058
$6,349,939
$2,093,174
$13,866,171
$ 12,290,425
$
27
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2013
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
OPERATING INCOME
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Depreciation
Bad debt expense
(Increase) decrease in assets
Accounts receivable
Increase (decrease) in liabilities
Accounts payable
Payroll payable
Accrued compensated absences
Total adjustments
NET CASH PROVIDED BY OPERATING ACTIVITIES
Water Sewer Sanitation Total 2013
$ 918,710 $1,383,906 $ 593,851 $ 2,896,467 $ 2,907,811
Internal
Internal
Service
Service
Funds 2014
Funds 2013
3,816
$ (14,799)
$ (11,151)
152,483
114,420
233,021
499,924
483,181 11,065 11,065
3,389
3,816
494
7,699
8,466 - -
58,859
(179)
2,748
61,428
30,372 - -
2,033
(69,609)
(7,649)
(75,225)
75,678 3,734 86
2,652
2,107
2,613
7,372
- - -
11,425
11,425
1,571
24,421
25,565
230,841
61,980
232,798
525,619
623,262 14,799 11,151
$1,149,551
$1,445,886
$ 826,649
$ 3,422,086
$ 3,531,073 $ - $ -
28
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF FIDUCIARY NET POSITION
RECREATIONAL PROGRAMS FUND
SEPTEMBER 30, 2014
WITH COMPARATIVE TOTALS AS OF SEPTEMBER 30, 2013
Assets
Cash
Liabilities
Accounts payable
Net Position
Held in trust for recreation programs
29
Recreation
Programs
Trust Fund
2014 2013
$ 51,664 $ 36,468
51,664 36,468
$ 51,664 $ 36,468
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
RECREATIONAL PROGRAMS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2013
Additions
Contributions:
Registration fees
Sponsorships
Total additions
Deductions
Director's compensation
Boy's baseball
Girl's softball
Tee/tiger ball
Total deductions
Change in net position
Net position - beginning of the year
Net position - end of the year
30
Recreation
Programs
Trust Fund
2014
$ 57,795
11,220
69,015
4,500
23,293
19,055
6,971
53,819
15,196
36,468
$ 51,664
See accompanying notes to financial statements
2013
$ 57,170
13,136
70,306
4,500
22,983
20,335
6,817
54,635
15,671
20,797
$ 36,468
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 1 OF 14)
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 63.
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. 14,
"The Financial Reporting Entity". Currently, the City reports two component unit; the Chubbuck Development
Authority and the Chubbuck Impact Area Waste Water Authority.
Discretely Presented Component Units
Chubbuck Development Authority (CDA)
One component unit reported in the combined financial statements represents the financial balances and
transactions of the Chubbuck Development Authority (CDA). CDA is a legally separate entity incorporated
under the State of Idaho's urban renewal laws. CDA works with the City to develop blighted areas within the
City using tax increment financing to fund projects. These projects could include providing infrastructures,
purchasing land and demolishing blighted structures or rehabilitating structures to provide for low income
housing, among others. All non -private projects are donated to the City of Chubbuck.
The Board of Commissioners of the Authority consists of 7-9 members, which are appointed by the Mayor.
Complete financial statements of the Authority can be obtained from the Treasury, City of Chubbuck, 5160
Yellowstone Ave, Chubbuck, Idaho 83202.
Blend Component Unit
Chubbuck Impact Area Waste Water Collection Authority (CIAWWCA)
Effective September 1, 2007, Bannock County, Idaho, City of Pocatello, Idaho and the City of Chubbuck,
Idaho entered into a Joint Powers Agreement creating the Chubbuck Impact Area Wastewater Collection
Authority for the purpose of financing, designing, acquiring, constructing, managing, and operating a sewage
collection facility along with transmission mains and lift stations to serve those who own and operate a
collection system under Idaho Law for the residents of the City of Chubbuck, Idaho. The Authority is a public
entity of the State of Idaho, therefore, the Authority's income is exempt form Federal and Idaho income taxes.
A six -member board governs the Chubbuck Impact Area Wastewater Collection Authority with two members
representing Bannock County, two members representing the City of Pocatello and two members
representing the City of Chubbuck. The City of Chubbuck provides loans to the Authority with no interest or
maturity date. Outstanding balance of loans to the authority at year-end totaled $18,334,688. The City of
Chubbuck has all rights and obligations of assets and liabilities within the Authority.
31
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 2 OF 14)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
A. Reporting Entity (Continued)
Upon termination of this Agreement, title to all buildings, improvements, facilities, equipment and personal
property held by the Authority shall vest in the City of Chubbuck.
Complete financial statements of the Authority can be obtained from the Treasury, City of Chubbuck, 5160
Yellowstone Ave, Chubbuck, Idaho 83202.
B. Basis of Presentation
Government -wide Statements
The Statement of Net Position and Statement of Activities display 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 entities. Each fund is accounted for by providing a separate set of self -balancing
accounts that constitute its assets, liabilities, fund equity, revenues, and expenditure/expenses. 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/expenses 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/expenses 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
No 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.
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.
32
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 3 OF 14)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
B. Basis of Presentation (Continued)
Proprietary Funds
Enterprise Funds
Enterprise funds are used to account for business -like activities provided to the general public. These
activities are financed primarily by user charges and the measurement of financial activity focuses on net
income measurement similar to the private sector. The reporting entity includes the water, sewer and
sanitation funds.
Internal Service Funds
Internal service funds account for repairs and maintenance service for vehicles and equipment provided to
other departments or agencies of the City on a cost reimbursement basis.
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 as appropriate:
a. All governmental funds utilize a "current financial resources" measurement focus. Only current financial
assets and liabilities are generally included on their balance sheets. Their operating statements present
sources and uses of available spendable financial resources during a given period. These funds use
fund balance as their measure of available spendable financial resources at the end of the period.
b. The proprietary fund utilizes an "economic resources" measurement focus. The accounting objectives of
this measurement focus are the determination of operating income, changes in net position (or cost
recovery), financial position, and cash flows. All assets and liabilities (whether current or noncurrent)
associated with their activities are reported. Proprietary fund equity is classified as net position.
Basis of Accounting
In the government -wide Statement of Net Position and Statement of Activities, both governmental and
business -like activities are presented using the accrual basis of accounting. Under the accrual basis of
accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or
economic asset used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and
exchange -like transactions are recognized when the exchange takes place.
33
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 4 OF 14)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
C Measurement Focus and Basis of Accounting (Continued)
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 special revenue funds. All annual appropriations lapse
at fiscal year end.
Each month the City prepares a financial report that reflects the actual and budgeted financial data. A strict
purchase order system is used in controlling and maintaining expenditures within budget categories. This
data is reviewed by the City Council. The City does not use the encumbrance method of accounting.
The excess expenditures were funded by donated capital outlays, decreased expenditures in other functional
expenditures, and proceeds in excess of the amount budgeted.
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. Property, Plant, and Equipment
The accounting treatment for property, plant and equipment depends on whether the assets are used in
governmental fund operations or proprietary fund operations and whether they are reported in the government -
wide or fund financial statements.
Government -wide Statements
In the government -wide financial statements, fixed assets are accounted for as capital assets. All fixed
assets are valued at historical cost, or estimated historical cost if actual is unavailable, except for donated
fixed 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.
34
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 5 OF 14)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
F. Property, Plant, and Equipment (Continued)
Governmental fund infrastructure assets were not capitalized prior to October 1, 2003.
Depreciation of all exhaustible fixed 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
Other structures
Vehicles
Equipment
Fund Financial Statements
20-50 years
5-40 years
5-30 years
5-40 years
In the fund financial statements, fixed assets used in governmental fund operations are accounted for as
capital outlay expenditures of the governmental fund upon acquisition. Fixed assets used in proprietary fund
operations are accounted for the same as in the government -wide statements.
G. Restricted Assets
Restricted assets include cash and investments of the general fund that are legally restricted as to their use.
The primary restricted assets are related to employee benefits.
Restricted assets include cash and investments of the proprietary fund that are legally restricted as to their
use. The primary restricted assets are related to utility deposits and bond reserve requirements.
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted
resources first, then unrestricted resources as they are needed.
H. Long-term Debt
The accounting treatment of long-term debt depends on whether the assets are used in governmental fund
operations or proprietary fund operations and whether they are reported in the government -wide or fund
financial statements
All long-term debt to be repaid from governmental and business -type resources are reported as liabilities in
the government -wide statements. The long-term debt consists primarily of notes payable, capital leases, and
accrued compensated absences.
Long-term debt for governmental funds is not reported as liabilities in the fund financial statements. Debt
proceeds are reported as other financing sources. Payment of principal and interest are reported as
expenditures. The accounting for proprietary funds is the same in the fund statements as it is in the
government -wide statements.
35
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 6 OF 14)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
I. 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.
J. 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.
K. 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 "invested in capital assets,
net of related debt."
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.
36
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 7 OF 14)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
K. Equity Classifications - Continued
It is the City's policy to use unrestricted fund balances in the following order: (1) Committed, (2) Assigned, (3)
Unassigned.
L. 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.
NOTE 2 - Legal Compliance - Budgets
Approximately six to seven months before the start of a new fiscal year, the City's financial officer submits to
the City Council a proposed operating budget for the fiscal year commencing the following October 1. The
budget is prepared by fund at the function level and includes information on the past year, current year
estimates and requested appropriations for the next fiscal year.
The City Council holds public hearings and may add to, subtract from or change appropriations, but may not
change the form of the budget. Any changes in the budget must be within the revenues and reserves
estimated as available to the City or the revenue estimates must be changed by an affirmative vote of a
majority of the City Council. After public hearings and before the end of the fiscal year, the City Council
formally adopts the budget.
Budgetary control is excersied by function at the fund level. The City Manager is authorized to transfer
budgeted appropriations within individual funds, but cannot alter the appropriations on a fund level without
City Council approval. Expenditures may not legally exceed budgeted appropriations at the fund level.
During the year, several supplementary appropriations may be necessary.
NOTE 3 - Restricted Assets and Payable from Restricted Assets
Assets have been set aside for special items and are restricted for that purpose. Restricted resources are
used only after the unrestricted resources are depleted. To date cash has been restricted for the following
Proprietary
Bond reserves
Utility deposits
Total
$ 167,481
243,805
$ 411,286
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 $243,805 at year-end.
NOTE 4 - Property Tax
Bannock County has the responsibility of assessing and collecting all property taxes. Taxes levied for the
year are payable in two installments due December 20th of the current year and June 20th of the following
year. The County remits property taxes collected to the City monthly.
37
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 8 OF 14)
NOTE 4 - Property Tax (Continued)
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, $351,707 in outstanding
property taxes were expected to be collected and remitted by the County.
NOTE 5 - Cash and Cash Equivalents and Investments
Primary Government:
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Restricted $ 411,286
Unrestricted 17,164, 630
$ 17,575,916
Fiduciary Fund:
Cash $ 51,664
$ 51,664
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 of the City's deposits (cash
and certificates of deposit) was $17,627,580 and the bank balance was $14,289,875. 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 $3,319,830.
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 City has no investments
Component Unit - Chubbuck Development Authority (CDA):
Deposits at year end consist of the following.
Deposits
Cash in bank - carrying amount
Unrestricted
$ 2,061,683
Bank Deposits - Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the
government's deposits may not be returned to it. At year-end the carrying amount and bank balance of CDA's
deposits (cash and certificates of deposit) was $2,061,683. At year-end, all the Authority's deposits were held
in the LGIP. Deposits in the LGIP are not insured or guaranteed by the Federal Deposit Insurance
Corporation, the State of Idaho or any other government agency. CDA's deposits in the bank at year-end were
subject to custodial credit risk.
The State Treasurer's Investment Pools (LGIP) operates in accordance with appropriate state laws and
regulations. The reported value of the pools is the same as the fair value of the pool shares.
Investments - The CDA has no investments
38
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 9 OF 14)
NOTE 5 - Cash and Cash Equivalents and Investments (Continued)
Component Unit - Chubbuck Impact Area Waste Water Collection Authority (CIAWWCA):
Deposits and Investments - The CIAWWCA has no deposits or investments.
Deposits at year end consist of the following:
Deposits
Cash in bank - carrying amount
Unrestricted
Bank Deposits - Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the
government's deposits may not be returned to it. At year-end the carrying amount and bank balance of
CIAWWCA's deposits (cash and certificates of deposit) was $0. At year-end, all the Authority's deposits were
held in a financial institution. All deposits were guaranteed by the Federal Deposit Insurance Corporation and
were not subject to custodial credit risk.
NOTE 6 - Receivables
All trade receivables are shown net of allowance for doubtful accounts. Doubtful accounts are based on an
aging delinquent balance report. Historically 100% of property taxes have been collected, therefore, there is
no allowance for uncollectible property tax receivables.
Receivables as of year-end for the City's business -type funds are as follows:
Water
Sewer
Sanitation
Total
Accounts Receivables 265,572
323,509
175,975
765,056
Allowance for Doubtful Accounts (46,297)
(42,199)
(27,909)
(116,405)
$ 219,275
$ 281,310
$ 148,066
$ 648,651
NOTE 7 - Concentration of Credit Risk
Interest Rate Risk is the risk that changes in interest rates will adversely affect the value of a deposit. The
City manages its exposure to declines in fair value by limiting the average maturity of its deposits to one year
or less, or redeemable on demand with no penalty.
Credit Risk is the risk that an issuer or a counterparty to a deposit will not fulfill its obligations. The City seeks
to minimize credit risk through diversification of deposits within the choices allowed under state statutes.
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.
39
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 10 OF 14)
NOTE 8 - Changes in Fixed Assets
A summary of general fixed assets at year end is as follows:
A summary of proprietary type fixed assets at year end is as follows:
Nondepreciable assets
Land
Water Rights
Office Equipment
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
NOTE 9 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt:
Beginning Ending
Balance Additions Deletions Balance
$ 495,573 $
Beginning
- $ 495,573
1,822,507
Ending
- 2,421,167
Balance
Additions
Deletions
Balance
Nondepreciable assets
- 6,115,456
6,441,028
271,244
- 6,712,272
Land
$ 234,319
$ 31,761
$ -
$ 266,080
Work in process
4,392,943
1,396,552
-
5,789,495
Infrastructures
3,258,383
39,723
149,388
3,148,718
Buildings and Improvements
3,248,868
118,466
-
3,367,334
Vehicles and Equipment
3,930,204
84,893
16,000
3,999,097
CIAWWCA: work -in -process
18,408,131
152,538
18,560,669
33,472, 848
1,823,933
165,388
35,131, 393
Accumulated Depreciation
4,521,935
352,467
16,000
4,858,402
$ 28,950,913
$ 1,471,466
$ 149,388
$ 30,272,991
A summary of proprietary type fixed assets at year end is as follows:
Nondepreciable assets
Land
Water Rights
Office Equipment
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
NOTE 9 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt:
Beginning Ending
Balance Additions Deletions Balance
$ 495,573 $
- $
- $ 495,573
1,822,507
598,660
- 2,421,167
51,625
-
- 51,625
6,102,239
13,217
- 6,115,456
6,441,028
271,244
- 6,712,272
14,912,972
883,121
- 15,796,093
6,041,056
499,925
- 6,540,981
$ 8,871,916 $
383,196 $
- $ 9,255,112
Governmental Business -type
$ 63,874 $ 26,735
255,498 106,941
$ 319,372 $ 133.676
The City's long-term debt is segregated between the amounts to be repaid from governmental activities and
amounts to be repaid from business -type activities.
Governmental Activities:
As of year end, the governmental fund had no long-term debt.
40
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 11 OF 14)
NOTE 9 - Long-term Debt and Accrued Compensation (Continued)
Business -type activities:
In 2006, the City refinanced a construction line of credit for a note payable with the Department of
Environmental Quality (DEQ) with an interest rate of 3.25% and semi-annual payments of $12,332 for 20
years.
Current portion $ 17,161
Noncurrent portion 217,672
i $ 234,833
At year-end the City was authorized, on a line -of -credit, to borrowed $17,569,518 from the Department of
Environmental Quality (DEQ) under four (4) separate loans. The four (4) loans have zero percent interest rate
and are required to be paid in biannual installments over 20 years at the close of the loan. At year-end two of
the four loans were closed. The notes are used to finance the designing and constructing of the Chubbuck
Northwest Sewer Interceptor. It may also be used to finance services to provide environmental field studies,
public involvement, and agency permit applications. If funds allow, it may include the purchase of needed
right-of-way for construction of the sewer system. At year-end the balance available to the City was
$669,046.
Available 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. $ - $ 181,580
DEQ line of credit at zero percent interest, with biannual payment of
$200,990 for 20 years, and a maturity date of fiscal year 2034. Loan not
closed at end of fiscal year 2014. 661,678 8,039,582
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
March 26,2013. - 8,084,770
DEQ line of credit at zero percent interest, with biannual payment of $3266
for 20 years, and a maturity date of February 16, 2034. Loan not closed at
end of fiscal year 2014. 7,368 130,630
$ 669,046 $ 16,436,562
Less current portion 436,513
Noncurrent portion $ 16,000,049
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
$ 88,264
$ 1,610,000
$ 1,698,264
88,264
1,610, 000
1,698, 264
Less current portion
7,355
115,000
122,355
Noncurrent portion
$ 80,909
$ 1.495.000
$ 1.575.909
41
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 12 OF 14)
NOTE 9 - Long-term Debt and Accrued Compensation (Continued)
Bond premiums, net amortization totaled $88,264. 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 three notes to purchase assets needed in order to collect sanitation for the
City. Notes one and two were issued at 5.50% and the third note at 5.25%. The third note was refinanced in
2009. The notes were issued for $936,576, $541,537 and $1,375,000 with monthly payments of $17,890,
$6,985, and $9,321, respectively until the maturity date of May 5, 2013, 2016 and 2029, respectively. During
the year, Note 1 reached its maturity and was paid off.
Notes Payable:
Balance
Note 1
$
Note 2
131,828
Note 3
1.129.824
1,261.652
Less current portion
131.058
Noncurrent portion
$ 1,130,594
Annual Debt Service Requirements for leases, bonds and notes payable
Year Ending Governmental Activities
Business -type
Activities
September 30 Principal Interest
Principal
Interest
2015 $ - $ -
$ 1,021,325
$ 115,426
2016 - -
1,036,097
109,536
2017 - -
1,024,415
102,314
2018 - -
1,018,377
94,752
2019 - -
1,007, 539
87,308
2020-2024 - -
5,051,173
307,092
2025-2029 - -
5,009,641
58,910
2030-2033 - -
4,374,480
-
$ - $ -
$ 19,543,047
$ 875,338
Changes in long-term liabilities
Long-term liability activity for the year was as follows:
Governmental activities
Capital leases
Compensated absences
Beginning Ending Due within
Balance Additions Reductions Balance one year
$ 154,929 $ - $ 154,929 $ - $ -
306,169 357,452 344,249 319,372 63,874
$ 461,098 $ 357.452 $ 499,178 $ 319,372 $ 63,874
42
Long-term portion $ 255,498
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 13 OF 14)
NOTE 9 - Long-term Debt and Accrued Compensation (Continued)
Changes in long-term liabilities - (continued)
Long-term portion $ 18,950,256
NOTE 10 - Pension Disclosures
The Public Employee Retirement System of Idaho (PERSI), a cost sharing multi-employer public retirement
system, was created by the Idaho State Legislature. It is a defined benefit plan requiring that both the
member and the employer to contribute. The plan provides benefits based on members' years of service,
age, and compensation. In addition, benefits are provided for disability, death, and survivors of eligible
members or beneficiaries. The authority to establish and amend benefit provisions is established in Idaho
Code. Designed as a mandatory system for eligible state and school district employees, the legislation
provided for other political subdivisions to participate by contractual agreement with PERSI. After 5 years of
credited services, members become fully vested in retirement benefits earned to date. Members are eligible
for retirement benefits upon attainment of the ages specified for their employment classification. For each
month of credited service, the annual service retirement allowance is 2.0% (2.3% police/firefighters) of the
average monthly salary for the highest consecutive 42 months.
PERSI issues publicly available stand alone financial reports that include audited financial statements and
required supplementary information. These reports may be obtained from PERSI's website
www.persi. idaho. gov.
The contribution requirements of the City of Chubbuck and its employees are established and may be
amended by the PERSI Board of Trustees. At year-end the required contribution rates as a percentage of
covered payroll for members are 6.79% for general members and 8.36% for police/firefighters. The employer
rates as a percentage of covered payroll are 11.32% for general members and 11.66% for police/firefighter
members. The City of Chubbuck contributions required and paid were $453,614, $414,092, and $398,799, for
the three years ended September 30, 2014, 2013, and 2012, respectively.
NOTE 11 - Risk Manaqement
The City is exposed to various risks of loss. The City has obtained commercial insurance to reduce the risk of
substantial losses.
NOTE 12 - Subsequent Events
Subsequent events were evaluated up to March 26, 2015, the date the financial statements were available to
be issued.
43
Beginning
Ending
Due within
Balance
Additions Reductions
Balance
one year
Business -type activities
Bonds payable
$ 1,720,000
$ - $ 110,000
$ 1,610,000
$ 115,000
Notes payable
18,510,822
- 577,775
17,933,047
584,732
Compensated absences
109,255
109,254 84,833
133,676
26,735
$ 20,340,077
$ 109,254 $ 772,608
$ 19,676,723
$ 726,467
Long-term portion $ 18,950,256
NOTE 10 - Pension Disclosures
The Public Employee Retirement System of Idaho (PERSI), a cost sharing multi-employer public retirement
system, was created by the Idaho State Legislature. It is a defined benefit plan requiring that both the
member and the employer to contribute. The plan provides benefits based on members' years of service,
age, and compensation. In addition, benefits are provided for disability, death, and survivors of eligible
members or beneficiaries. The authority to establish and amend benefit provisions is established in Idaho
Code. Designed as a mandatory system for eligible state and school district employees, the legislation
provided for other political subdivisions to participate by contractual agreement with PERSI. After 5 years of
credited services, members become fully vested in retirement benefits earned to date. Members are eligible
for retirement benefits upon attainment of the ages specified for their employment classification. For each
month of credited service, the annual service retirement allowance is 2.0% (2.3% police/firefighters) of the
average monthly salary for the highest consecutive 42 months.
PERSI issues publicly available stand alone financial reports that include audited financial statements and
required supplementary information. These reports may be obtained from PERSI's website
www.persi. idaho. gov.
The contribution requirements of the City of Chubbuck and its employees are established and may be
amended by the PERSI Board of Trustees. At year-end the required contribution rates as a percentage of
covered payroll for members are 6.79% for general members and 8.36% for police/firefighters. The employer
rates as a percentage of covered payroll are 11.32% for general members and 11.66% for police/firefighter
members. The City of Chubbuck contributions required and paid were $453,614, $414,092, and $398,799, for
the three years ended September 30, 2014, 2013, and 2012, respectively.
NOTE 11 - Risk Manaqement
The City is exposed to various risks of loss. The City has obtained commercial insurance to reduce the risk of
substantial losses.
NOTE 12 - Subsequent Events
Subsequent events were evaluated up to March 26, 2015, the date the financial statements were available to
be issued.
43
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 14 OF 14)
NOTE 13 - Other Postemployment Benefits
The City complies with Idaho's requirements under the Consolidated Omnibus Budget Reconciliation Act
(COBRA). The liability under state requirements related to other post -employment benefits for the medical
insurance COBRA program is not required to be reported. The City does not participate in any other post -
employment benefit (OPEB).
NOTE 14 - Correction of an Error and Prior Period Adjustments
Adjustments Governmental activities:
During the year, the City became aware of assets that were expensed in the prior year but were not
capitalized in accordance with the City's capitalization policy. The capitalization of the assets increased the
statement of net position and statement of activities within the governmental activities by $22,216.
44
REQUIRED SUPPLEMENTARY INFORMATION
45
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
GENERALFUND
YEAR ENDED SEPTEMBER 30, 2014
Resources
General property taxes and sales tax
Franchise fees
State sales and liquior taxes
Highway user's and road and bridge taxes
Parks revenue
Licenses, permits and fines
Grants
Fire protection and prevention
Leases and rents
Interest income
Charges for services
Other resources
Amounts available for appropriations
Charges to appropriations
General government
Law enforcement
Fire control
Building inspection
Street
Parks and recreation
Health and welfare
Capital Outlays
Total charges to appropriations
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
Other Financing Sources
Proceeds from sale of assets
Transfer in (out)
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Budgeted Amounts
Variance
Actual
Positive
Original
Final
Amounts
(Negative)
$ 5,087,251
$ 5,087,251
$ 5,295,493
$ 208,242
222,000
222,000
203,790
(18,210)
400,000
400,000
533,598
133,598
500,000
500,000
369,551
(130,449)
3,600
3,600
2,668
(932)
149,500
149,500
134,555
(14,945)
-
-
14,800
14,800
192,500
192,500
232,992
40,492
59,000
59,000
66,152
7,152
50,000
50,000
60,651
10,651
40,500
40,500
4,535
(35,965)
624,523
624,523
11,614
(612,909)
7,328,874
7,328,874
6,930,399
(398,475)
915,990
915,990
393,539
522,451
2,872,274
2,872,274
2,695,807
176,467
1,205,955
1,205,955
1,389,030
(183,075)
183,257
183,257
172,439
10,818
1,167,576
1,167,576
1,356,339
(188,763)
703,365
703,365
442,246
261,119
33,275
33,275
51,165
(17,890)
130,300
130,300
212,904
(82,604)
7,211,992
7,211,992
6,713,469
498,523
116,882
116,882
216,930
100,048
-
-
11,154
11,154
-
-
(3,000)
(3,000)
-
-
8,154
8,154
116,882
116,882
225,084
108,202
63,977
63,977
2,708,737
2,644,760
$ 180,859
$ 180,859
$ 2,933,821
$ 2,752,962
M.
CITY OF CHUBBUCK, IDAHO
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
SEPTEMBER 30, 2014
NOTE 1 - EXPENDITURES IN EXCESS OF BUDGET
GENERALFUND
Fire Control
The City had expenditures in excess of budget of $183,075 due to an increase in personnel, training,
fire prevention, fuel, and capital lease expenditures. These expenditures were paid using excess
revenues over budget.
Health & Welfare
The City had expenditures in excess of budget of $17,890 due to an increase in health and welfare
expenditures. These expenditures were paid using excess revenues over budget.
Street
The City had expenditures in excess of budget of $188,763 due to an increase in highway, streets
and roads expenditures. These expenditures were paid using excess revenues over budget.
Capital Outlays
The City had expenditures in excess of budget of $82,604 due to the purchase of additional assets
not accounted for in the budget. Theses assets included land, equipment, and vehicles that were not
accounted for in the budget. These expenditures were paid using excess revenues over budget.
47
OTHER SUPPLEMENTARY INFORMATION
48
ASSETS
Cash
FUND BALANCES
Committed, reported in:
Special revenue fund
CITY OF CHUBBUCK, IDAHO
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
Special Revenue
Street Juvenile Road
Guarantee Referral Court Projects
$ 11,014 $ 5,059 $ 67,144 $ 164,622
Total
Parks Nonmajor
Fund Funds
$ 263,857 $ 511,696
$ 11,014 $ 5,059 $ 67,144 $ 164,622 $ 263,857 $ 511,696
49
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
REVENUES
Donations
Other revenues
EXPENDITURES
Other purchased services
NET CHANGE IN FUND BALANCES
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Special Revenue
_ Street Juvenile Road Total
Guarantee Referral Court Projects Parks Nonmajor
Fund Fund Fund Fund Fund Funds
$ - $ - $ - $ - $ 18,400 $ 18,400
500 - 2,252 - - 2,752
500 - 2,252 - 18,400 21,152
- - 350 - - 350
- - 350 - - 350
500 - 1,902 - 18,400 20,802
10,514 5,059 65,242 164,622 245,457 490,894
$ 11,014 $ 5,059 $ 67,144 $ 164,622 $ 263,857 $ 511,696
50
See accompanying notes to financial statements
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Budgeted Amounts
Original Final
Resources
Variance
Actual Positive
Amounts (Negative)
General property taxes and sales tax
$ 18,600
$ 18,600
$ - $ (18,600)
Interest income
8,300
8,300
- (8,300)
Donations
80,000
80,000
18,400 (61,600)
Other resources
40,000
40,000
2,752 (37,248)
Amounts available for appropriations
146,900
146,900
21,152 (125,748)
Charges to appropriations
Street guarantee fund
Juvenile referral fund
Court fund
Road projects fund
Parks fund
Total charges to appropriations
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
19,100
19,100
-
19,100
500
500
-
500
42,100
42,100
350
41,750
1,200
1,200
-
1,200
84,000
84,000
-
84,000
146,900
146,900
350
146,550
-
-
20,802
20,802
-
490,894
490,894
$ -
$ -
$ 511,696
$ 511,696
51
See accompanying notes to financial statements
STATISTICAL SECTION
52
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 54-61
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 62-65
These schedulers contain information to help the reader assess
the City's most significant local revenue source, the property tax.
Debt Capacity
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
69-70
I hese schedules contain service and Intrastructure 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.
53
City of Chubbuck
Net Position By Components
Last Ten Fiscal Years
(Accrual -Basis Accounting)
Fiscal Year
54
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Governmental activities:
Invested in capital assets, net of related debt
S 2,210,425
$ 2,312,266
$ 2,714,581 $
3,955,359
$ 5,206,926 $
5,069,941 $
5,082,171
$ 7,706,251 $
10,153,123
$ 11,396,599
Restricted
-
-
-
-
-
-
-
-
Unrestricted
1,264,910
1,420,274
2,401,710
1,187,929
1,380,855
1,825,092
2,451,180
2,896,706
3,592,593
4,130,936
Total governmental activities net position
3,475,335
3,732,540
5,116,291
5,143,288
6,587,781
6,895,033
7533,351
10,602,957
13,745,716
15,527,535
Business -type activities
Invested in capital assets, net of related debt
3,124,048
2,832,176
3,211,964
3,630,021
2,508,259
3,876,095
2,260,822
4,402,647
5,450,743
6,091,493
Restricted
874,365
932,323
876,091
819,972
819,972
132,650
237,981
169,081
165,781
167,481
Unrestricted
1,120,337
1,472,695
2,184,527
3,053,444
5,010,701
5,997,346
10,043,852
11,985,356
14,006,605
16,145,285
Total business -type activities net position
5,118,750
5,237,194
6,272,582
7,503,437
8,338,932
10,006,091
12,542,655
16,557,084
19,633,129
22,404,259
Primary government
Net investment in capital assets
5,334,473
5,144,442
5,926,545
7,585,380
7,715,185
8,946,036
7,342,993
12,108,898 $
15,613,866
$ 17,488,092
Restricted
874,365
932,323
876,091
819,972
819,972
132,650
237,981
169,081
165,781
167,481
Unrestricted
2,385,247
2,892,969
4,586,237
4,241,373
6,391,556
7,822,438
12,495,032
14,882,062
17,599,198
20,276,221
Total primary government net position
$ 8,594,085
S 8,969,734
S 11,388,873 $
12,646,725
$ 14,926,713 S
16,901,124 S
20,076,006
$ 27,160,041 $
33,378,845
$ 37,931,794
54
Expenses
Governmental activities:
General Government
Law enforcement
Fire Control
Building Inspection
Street
Parks & Recreation
Health and welfare
Development Fund
Other special revenue funds
CIAW WC Authority
Total governmental activities expenses
Business -type activities:
Utilities (Water, Sewer, Sanitation Combined)
Water
Sewer
Sanitation
Total business -type activities program expenses
Total primary government program expenses
55
City of Chubbuck
Change
in Net Position
Last
Ten Fiscal Years
(Accrual
-Basis Accounting)
2009
2010
2007
2008
2011
2005
2006
2012
2013
2014
$ 187,437
$ 179,445
$ 166,391
$ 288,868 $
206,342
$ 297,342
$ 229,616
$ 235,127
$ 352,910
$ 443,813
1,937,611
2,148,010
1,997,249
2,299,792
2,518,618
2,512,720
2,714,226
2,576,916
2,782,655
2,771,003
840,960
872,176
974,041
1,085,222
1,094,307
1,172,846
1,170,902
1,307,735
1,313,575
1,335,240
149,327
138,923
166,090
150,084
154,402
159,482
165,214
158,409
163,631
172,439
704,148
777,895
631,702
769,091
797,537
771,777
831,182
1,087,455
1,122,746
1,450,965
521,138
644,271
602,645
555,030
571,561
625,569
544,793
534,574
494,692
484,041
23,098
11,585
24,505
38,814
30,850
58,154
44,487
31,462
39,552
51,165
1,539,655
1,173,552
744,808
-
-
-
-
-
-
120,916
97,044
111,983
134,017
131,873
30,419
857
17,113
5,150
350
4,574
2,930
6,024,290
6,042,901
5,419,414
5,320,918
5,505,490
5,628,309
5,701,277
5,948,791
6,279,485
6,711,946
3,661,364
3,838,Dnn
4,080,190
-
-
-
-
-
-
-
-
-
1,435,959
1,909,528
1,438,541
1,355,305
1,398,887
1,466,297
1,560,406
-
-
-
1,537,829
1,792,591
1,821,036
1,669,178
1,847,034
2,072,020
1,709,310
-
-
-
1,551,827
1,236,840
1,192,962
1,174,725
1,132,300
1,116,071
1,219,283
3,661,364
3,838,000
4,080,190
4,525,615
4,938,959
4,452,539
4,199,208
4,378,221
4,654,388
4,488,999
9,685,654
9,880,901
9,499,604
9,846,533
10,444,449
10,080,848
9,900,485
10,327,012
10,933,873
11,200,945
55
Program Revenues
Governmental activities:
Charges for services:
General Government
Law enforcement
Fire control
Building inspection
Parks & Recreation
Development Fund
Operating grants and contributions
Total governmental activities program revenues
Business -type activities:
Charges for services:
Utilities (Water, Sewer, Sanitation Combined)
Water
Sewer
Sanitation
Total business -type activities program revenues
Total primary government program revenues
Net(Expense)/Revenue
Governmental activities
Business -type activities
Total primary governmental net
56
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
2005
2006
2007 2008_._.2009
2010
2011
2012
2013
2014
59,397
327,621
221,482 195,206
135,984
121,602
237,249
133,808
203,578
134,555
-
5,185
- -
-
-
-
-
-
-
269,946
138,651
293,714 183,189
164,847
195,564
180,020
210,650
191,317
232,992
327,658
-
- -
-
-
-
-
-
-
46,163
45,490
58,136 48,949
51,817
59,186
70,900
6,534
4,955
7,203
244,859
353,893
58,191 115,424
121,553
184,265
64,685
43,612
128,818
33,200
948,023
870,840
631,523 542,768
474,201
560,617
552,854
394,604
528,668
407,950
3,337,244
3,882,168
5,087,044 -
-
-
-
-
-
-
-
- 2,105,560
2,080,766
2,193,212
2,204,728
2,386,464
2,582,932
2,422,542
-
-
- 2,094,123
2,207,254
2,322,331
2,863,260
3,228,353
3,182,335
3,093,116
-
-
- 1,130,791
1,340,354
1,602,525
1,644,935
1,625,302
1,649,604
1,727,680
3,337,244
3,882,168
5,087,044 5,330,474
5,628,374
6,118,068
6,712,923
7,240,119
7,414,871
7,243,338
4,285,267
4,753,008
5,718,567 5,873,242
6,102,575
6,678,685
7,265,777
7,634,723
7,943,539
7,651,288
(5,076,267)
(5,172,061)
(4,787,891) (4,778,150)
(5,031,289)
(5,067,692)
(5,148,423)
(5,554,187)
(5,750,817)
(6,303,996)
(324,120)
44,168
1,006,854 804,859
689,415
1,665,529
2,513,715
2,861,898
2,760,483
2,754,339
(5,400,387)
(5,127,893)
(3,781,037) (3,973,291)
(4,341,874)
(3,402,163)
(2,634,708)
(2,692,289)
(2,990,334)
(3,549,657)
56
City of Chubbuck
Change in Net Position
Last Ten Fiscal Years
(Accrual -Basis Accounting)
57
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
General Revenues and other Changes in Net Position
Governmental activities:
General Property taxes and sales tax
4,016,357
4,452,942
4,971,951
3,641,216
3,973,326
4,176,298
4,441,858
4,594,553
4,982,426
5,292,450
Franchise fees
154,208
173,551
195,214
208,853
222,369
227,744
179,839
201,128
192,151
203,790
Intergovernmental
595,217
605,362
658,629
902,580
815,486
817,906
797,354
908,227
955,679
903,149
Leases and rents
22,828
28,179
40,295
27,606
34,660
19,491
50,644
52,546
90,843
66,152
Interest income
40,592
57,436
118,408
55,095
26,714
19,292
30,738
36,797
60,367
60,651
Proceeds from sale of assets
-
-
-
-
-
-
-
_
_
11,154
Gain on sale of assets
-
7,715
-
12,040
6,541
11,073
16,242
17,223
34,788
-
Capital contributions
-
-
-
1,319,561
1,323,278
34,088
217,034
2,683,248
2,254,771
1,286,887
Other revenue
109,288
104,081
174,459
22,752
39,323
-
35,491
18,486
89,066
14,366
Transfers in (out)
-
-
12,686
(12,687)
28,000
-
-
-
-
(3,000)
CIAWWC Authority
-
-
-
-
-
-
-
-
228,000
228,000
Total governmental activities
4,938,490
5,429,266
6,171,642
6,177,016
6,469,697
5,305,892
5,769,200
8,512,208
8,888,091
8,063,599
Business -type activities:
Interest income
43,153
74,276
97,452
78,510
58,039
22,944
22,849
32,121
644
574
Capital contributions
-
-
-
493,445
116,041
-
-
1,125,220
261,081
13,217
Gain on sale of assets
-
-
-
-
-
-
10,800
2,400
Transfers in (out)
-
-
(12,686)
12,687
(28,000)
-
-
-
-
3,000
Total business -type activities
43,153
74,276
84,766
584,642
146,080
22,844
22,849
1,168,141
264,125
16,791
Total primary government
4,981,643
5,503,542
6,256,408
6,761,658
6,615,777
5,328,736
5,792,049
9,680,349
9,152,216
8,080,390
Changes in Net Position
Governmental Activities
(137,777)
257,205
1,383,751
1,398,866
1,438,408
238,200
620,777
2,958,021
3,137,274
1,759,603
Business -type activities
(280,967)
118,444
1,091,620
1,389,501
835,495
1,688,373
2,536,564
4,030,039
3,024,608
2,771,130
Total primarygovernment
$ (418,744)
$ 375,649
$ 2,475,371
$ 2,788,367
$ 2,273,903
F 1,926,573
$ 3,157,341
$ 6,988,060
$ 6,161,882
$ 4,530,733
57
58
City of Chubbuck
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting)
2005
2006
2007
2008 2009
2010
2011
2012
2013
2014
General fund
Unassigned
$ 476,969
$ 429,125
$ 618,692
$ 734,822 $ 962,458 $
1,334,763
$ 1,884,064
$ 2,348,830
$ 2,708,737
$ 2,933,821
Total General Fund
476,969
429,125
618,692
734,822 962,458
1,334,763
1,884,064
2,348,830
2,708,737
2,933,821
Development Fund
-
-
-
- -
-
-
-
-
-
Unassigned:
-
Special revenue funds
400,813
535,858
1,345,931
Total Development Fund
400,813
535,858
1,345,931
All Other Governmental Funds
Restricted
-
-
-
-
Committed
629,440
632,837
490,894
511,696
Unassigned:
-
-
-
- -
-
-
-
-
-
Special revenue funds
546,907
641,653
630,849
689,060 622,179
613,032
Capital project funds
-
-
-
- -
-
Debt service funds
-
-
-
-
-
-
Total all other governmental funds
$ 546,907
$ 641,653
$ 630,849
$ 689,060 $ 622,179 $
613,032
$ 629,440
$ 632,837
$ 490,894
$ 511,696
58
Revenues:
General property taxes and sales tax
Franchise fees
Intergovernmental
Parks revenue
License, permits and fines
Grants
Fire protection and prevention
Leases and rents
Interest income
Donations
Donation of infrastructures
Charges for services
Other revenues
Miscellaneous
Total Revenues
Development Fund Revenues:
General property taxes
Grants
Interest income
Other revenues
Miscellaneous
Total Revenues Development Fund
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting
2005
2005
Zuu/
2008
2009
ZOlO
2011
2012
2013
2014
35,657
94,768
1,227,614
1,299,863
1,558,911
$ 2,902,495
$ 3,147,912
$ 3,611,371
$ 3,623,783
$ 3,911,681
$ 4,133,709
$ 4,435,834
$ 4,567,959
$ 4,984,949
$ 5,295,493
154,208
173,551
195,214
208,853
222,369
227,744
179,839
201,128
192,151
203,790
595,217
605,362
658,629
902,580
815,486
817,906
797,354
908,227
955,679
903,149
46,163
45,490
58,136
48,949
3,379
2,499
1,977
2,399
1,720
2,668
387,055
332,807
221,481
195,206
135,984
121,602
237,249
133,808
203,578
134,555
24,673
255,864
58,191
72,224
87,840
158,025
58,465
27,892
302,500
14,800
269,946
138,651
293,714
183,189
164,847
195,564
180,020
210,650
191,317
232,992
22,828
28,179
40,295
27,606
34,660
19,491
50,644
52,546
90,843
66,152
29,687
35,981
55,177
55,095
26,714
19,292
30,738
36,797
60,367
60,651
120,850
98,028
40,540
43,200
33,713
26,240
6,220
15,720
54,318
18,400
-
-
-
-
-
11,073
-
-
-
-
-
-
-
-
48,438
56,687
68,923
4,135
3,235
4,535
109,288
68,424
39,151
22,752
39,323
34,088
35,491
18,486
89,066
14,366
4,662,410 4,930,249 5,271,899 5,383,437 5,524,434 5,823,920 6,082,754 6,179,747 7,129,723 6,951,551
1.,117,373
1,242,751
1,400,912
99,336
-
-
10,905
21,455
63,231
-
35,657
94,768
1,227,614
1,299,863
1,558,911
59
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting
[:11]
2005
2006
2.007
2008
2009
2010
2011
2012
2013
2014
Expenditures:
General government
1.49,750
128,779
148,808
217,346
169,192
301,208
186,863
214,382
326,399
393,539
Law enforcement
1,944,476
2,040,132
2,042,398
2,240,447
2,439,011
2,409,109
2,616,515
2,494,222
2,669,035
2,695,807
Fire control
867,771
987,023
889,346
985,968
971,009
1,024,047
1,127,747
1,174,659
1,211,430
1,234,101
Building inspection
149,327
138,923
160,533
147,877
152,361
157,675
165,214
158,409
163,631
172,439
Street
703,519
761,166
623,376
727,758
758,550
732,617
788,356
1,035,804
1,054,574
1,356,339
Parks and recreation
513,082
647,379
660,779
509,437
527,601
578,779
498,355
488,874
437,682
442,246
Health and welfare
23,096
11,585
24,505
36,814
30,850
58,154
44,487
31,462
39,552
51,165
Street guarantee fund
2,700
72,434
30,785
12,910
3,734
-
-
-
5,000
-
General LID fund
188
-
-
-
-
-
-
-
-
-
Court fund
50,768
2,610
58,898
3,507
11,699
-
857
2,780
150
350
Parks fund
67,260
22,000
22,300
117,600
116,440
30,419
-
14,333
-
-
Capital outlays
-
-
-
207,704
131,803
177,694
58,690
225,467
968,502
365,442
CIAWWC Authority
4,574
2,930
Total Expenditures
4,471,939
4,812,031
4,661,728
5,209,368
5,312,250
5,469,702
5,487,084
5,840,392
6,880,729
6,714,358
Development fund Expenditures:
Development Fund
1,539,655
1,165,895
744,808
Total Development Fund Expenditures
1,539,655
1,165,895
744,808
Excess (deficiency) of Revenues over
)undrr) Expenditures )Including
development fund 2003 to 2007)
(121,S70)
252,186
1,424,274
174,069
212,184
354,218
595,670
339,355
748,994
237,193
[:11]
City of Chubbuck
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual -Basis of Accounting
Note: For the fiscal year 2007, the city reclassified the Chubbuck Development Authority, a component unit, from a blended component unit, which was being reported as a major fund in the general government funds, to a discreetly
presented component unit.
61
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Other financing sources (uses):
Proceeds from capital lease
-
-
62,645
124,610
58,491
85,772
-
-
_
_
Proceeds from note payable
175,281
155,468
Principal payments on leases
-
(80,330)
(105,052)
(131,565)
(153,670)
(72,089)
(43,139)
Principal payments
(249,263)
(154,929)
Interest expense
-
-
-
-
-
(4,743)
(3,064)
-
(5,330)
Proceeds from sale of assets
-
10,090
-
19,914
15,750
-
16,242
17,223
42,796
11,154
Transfers in (out)
-
-
12,686
(12,687)
28,000
-
-
-
-
(3,000)
Total other financing sources (uses)
-
(70,240)
(29,721)
272
(51,429)
8,940
(29,961)
17,223
(36,516)
8,693
Net Change in Fund Balances
(121,570)
181,946
1,394,553
174,341
160,755
363,158
565,709
356,578
212,478
245,886
Beginning Fund Balances
1,546,260
1,018,973
1,200,919
1,249,541
1,423,882
1,584,637
1,947,795
2,625,090
2,987,153
3,199,631
Prior Period Adjustment
(405,717)
(1,345,931)
111,586
Ending Fund Balances
$ 1,018,973
$ 1,200,919
$ 1,249,541
$ 1,423,882
$ 1,584,637
$ 1,947,795
$ 2,625,090 $
2,981,668
$ 3,199,631
$ 3,445,517
Note: For the fiscal year 2007, the city reclassified the Chubbuck Development Authority, a component unit, from a blended component unit, which was being reported as a major fund in the general government funds, to a discreetly
presented component unit.
61
City of Chubbuck
General Government Tax and Intergovernmental Revenues by Source
Last Ten Fiscal Years
(modified accrual basis of accounting)
62
Local Tax Revenues
Intergovernmental Revenues
Total
Local Taxes as a
Total Local
State Liquor
Highway User's
Court
Shared Sales
Intergovernmental
Percentage of
Fiscal Year
Property Tax
Franchise Tax
Sales Tax
Taxes
Tax
Revenue
Revenue
Road & Bridge
Tax
Taxes
Total Taxes
Total
2005
2,358,582
154,208
359,131
2,871,921
101,866
443,605
58,045
39,013
194,804
837,332
3,709,252
77%
2006
2,601,949
172,813
386,394
3,161,156
99,779
402,005
50,009
39,059
211,581
802,433
3,963,589
80%
2007
2,898,135
192,001
407,194
3,497,330
224,057
322,468
60,227
51,639
269,474
927,865
4,425,196
79%
2008
3,256,795
205,831
388,149
3,850,775
108,050
407,741
63,808
52,055
238,143
869,797
4,720,572
82%
2009
3,620,421
220,434
354,280
4,195,135
124,927
401,040
55,921
69,946
174,374
826,208
5,021,343
84%
2010
3,784,225
230,678
345,227
4,360,130
131,927
397,068
42,589
65,582
168,241
805,407
5,165,537
84%
2011
4,048,626
180,589
373,619
4,602,834
136,058
421,162
46,523
62,263
130,922
796,928
5,399,762
85%
2012
4,118,011
201,128
449,949
4,769,088
149,070
451,302
41,915
59,652
206,288
908,227
5,677,315
84%
2013
4,497,017
192,152
487,932
5,177,101
154,777
463,463
38,277
72,887
226,276
955,679
6,132,780
84%
2014
$ 4,781,207
$ 203,790
$ 514,286
$ 5,499,283
$ 152,877
$ 467,297
$ 30,815
$ 66,326
$ 185,833
$ 903,148
$ 6,402,431
86%
62
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 Exemptions Personal
Owner's Property
Total Assessed Actual
Value
2005
273,454,974
6,176,251
893,628
103,934,343
384,459,196
2006
300,799,344
6,179,284
1,405,238
112,491,029
420,874,895
2007
323,542,435
6,384,193
252,163
148,011,390
478,190,181
2008
369,750,907
6,843,537
1,903,379
194,805,374
573,303,197
2009
415,654,025
6,582,216
2,567,125
224,638,051
649,441,417
2010
441,194,413
6,741,267
368,403
237,118,306
685,422,389
2011
431,386,854
6,776,598
704,500
214,484,395
653,352,347
2012
436,089,131
7,435,674
302,838
230,651,324
674,478,967
2013
446,262,451
7,358,180
488,182
225,397,223
679,506,036
2014
454,554,481
7,573,803
513,109
203,675,558 638,203
666,955,154
Source: Bannock County Clerks Office
Nate: Twenty percent of the property in the county is reassessed annually. The County assesses property at 100% of market value. Tax rates are per $1,000 of assessed value.
63
Tax Rate Per $1,000
Levy Rate Value
0.008374413 $
0.008266989 $
0.008711197 $
0.008442935 $
0.008404576 $
0.008466774 $
0.009150122 $
0.009324266 $
0.009969299 $
0.009967676 $
8.37
8.27
8.71
8.44
8.40
8.47
9.15
9.32
9.97
9.97
City of Chubbuck
Property Tax Rates
Direct and Overlapping (1) Governments
Last Ten Fiscal Years
(per $1,000 of assessed value)
Source: Bannock County Assessors Office
(1) Overlapping rates are those of local and county governments that apply to owners within the City of Chubbuck.
64
City of Chubbuck
Overlapping Rates
Bannock County
County Road &
Portneuf Library
Ambulance Service
School District 25
Combined Levy
Year
Base Rates
Rates
Bridge Rates
Abatement Rates
Rates
Rates
Rates
Combined Levy Rate
Rates
2005
8.37
5.45
0.47
0.67
0.27
8.06
0.02
23.30
2006
8.27
5.49
0.40
0.64
0.27
7.57
0.02
22.64
2007
8.71
5.28
0.59
0.66
0.28
4.56
0.02
20.07
2008
8.44
5.35
0.53
0.65
0.26
4.48
0.02
19.72
2009
8.40
5.13
0.64
-
0.62
0.25
4.25
0.02
19.29
2010
8.47
5.17
0.61
0.17
0.61
0.25
3.82
0.02
19.10
2011
9.15
5.28
0.43
0.15
0.57
0.25
3.86
0.02
19.70
2012
9.32
4.82
0.41
0.13
0.61
0.24
3.90
0.02
19.43
2013
9.97
4.92
0.47
0.05
0.61
0.40
4.49
0.02
20.91
2014
9.97
5.30
0.48
0.05
0.57
0.40
4.14
0.02
20.91
Source: Bannock County Assessors Office
(1) Overlapping rates are those of local and county governments that apply to owners within the City of Chubbuck.
64
Taxpayer Type of Business
IDAHO CENTRAL CREDIT UNION
BANK
NEIBAUER CHUBBUCK HOLDINGS LLC
3,497,000
PINE RIDGE MALL LLC
RETAIL
ALLSTATE INSURANCE COMPANY
INSURANCE/FINANCE
WAL MART REAL ESTATE
RETAIL
HD DEVELOPMENT OF MARYLAND INC
0.77%
CARMIKE CINEMAS INC.
ENTERTAINMENT
SHJH LLC
APARTMENTS
SHOPKO SPE REAL ESTATE LLC
RETAIL
EMERITOL RIDGE WIND LLC
APARTMENTS
SEARS ROEBUCK AND CD.
RETAIL
HEALTH CARE REIT INC.
Assessed Valuation
C WEST CORPORATION
COMMUNICATION
IDAHO PROPERTY INVESTORS LTD
2.69%
GOLDING FAMILY LIMITED
WAL-MART STORES EAST LP #1995
2
1.88%
Total Top Ten
Source: Bannock County Assessors Office
12,380,277
City of Chubbuck
Principal Taxpayers
September 30, 2014
3,646,783
2014
0.95%
3,497,000
2005
0.91%
3,404,051
7
0.89%
2,968,800
8
0.77%
Percentage of
9
0.75%
Assessed
10
Total Assessed
$ 89,781,671 13.46% $ 63,313,560
Percentage of Total
Valuation
Rank
Valuation
Assessed Valuation
Rank Assessed Valuation
17,960,243
1
2.69%
12,550,000
2
1.88%
12,380,277
3
1.86%
25.799,840
1 6.71%
9,908,263
4
1.49%
9,709,957
5
1.46%
9,024,000
2 2.35%
7,105,536
6
1.07%
5,731,300
3 1.49%
5,415,904
7
0.81%
5,303,976
8
0.80%
5,204,568
9
0.78%
3,720,500
4 0.97%
4,242,947
10
0.64%
3,646,783
5
0.95%
3,497,000
6
0.91%
3,404,051
7
0.89%
2,968,800
8
0.77%
2,900,000
9
0.75%
2,621,286
10
0.68%
$ 89,781,671 13.46% $ 63,313,560
16.47%
65
Governmental
Artivities
Fiscal
Year Capital Lease
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
198,095
173,998
131,590
124,635
29,466
43,139
27,739
City of Chubbuck
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(accrual basis of accounting)
Note: The estimated populations for years 2009, 2012, and 2014 were not available and so the most current estimate was used for these years.
Source: (1) U.S. Census
Business Type Activities
(1)
Sanitation
water Funcl
water Note
ewer Note
o a r matyss
ice-
---Fe -r -
Notes
Sewer Bond
Certificates
Water Bond
DEQ
DEQ
Government
Population
Capita
415,000
670,000
403,748
1,686,843
10,948
154
375,000
550,000
354,159
1,453,157
11,303
129
-
330,000
425,000
340,899
1,227,489
11,525
107
2,319,538
285,000
290,000
327,262
-
3,346,435
11,828
283
2,529,129
235,000
150,000
-
313,061
1,038,509
4,295,165
11,828
363
2,249,257
125,000
-
298,454
8,910,084
11,625,934
13,922
835
1,953,409
65,000
1,995,000
283,370
16,952,087
21,248,866
14,067
1,511
1,382,774
-
1,830,000
267,790
17,665,819
21,146,383
14,067
1,503
1,265,080
1,720,000
251,448
16,873,075
20,137,342
14,125
1,426
1,130,594
1,610,000
234,833
16,436,562
19,411,989
14,125
1,374
Note: The estimated populations for years 2009, 2012, and 2014 were not available and so the most current estimate was used for these years.
Source: (1) U.S. Census
Fiscal Year Gross Revenue (1) Operating Expense (2)
2005 -
2006
2007
2008
2009
2010 -
2011 2,219,014 1,229,611
2012 2,411,854 1,222,469
2013 2,583,576 1,263,607
2014 2,423,116 1,351,349
(1) Total revenues ( including interest)
(2) Total operating expenses exclusive of deprecation.
(3) Includes principal and interest of revenue bonds only.
City of Chubbuck
Revenue Bond Coverage
Water Fund
Last Ten Fiscal Years
NeL 1[CVU11Ue
Available for Debt
Service
989,403
1,189, 385
1,319,969
1,071,767
Debt Service Requirements (3)
Principal Interest Total
67
100,000
110,000
110,000
1.15,000
24,663
60,068
58,338
56,574
124,663
170,068
168,338
171,574
Coverage
0
0
0
0
0
0
7.94
6.99
7.84
6.'S
City of Chubbuck
Pledged - Revenue Bond Coverage
Sewer Fund
Last Ten Fiscal Years
Fiscal Year
Gross Revenue (1)
Operating Expense (2)
2005
40,000
2006
-
45,000
2007
-
-
2008
$ 2,137,760
$ 1,387,300 $
2009
2,228,975
1,652,902
2010
2,329,109
1,688,330
2011
2,869,296
1,567,867
2012
3,232,770
1,670,669
2013
2014
rvei revenue
Available for Debt
Service
750,460
576,073
640,779
1,301,429
1,562,101
Debt Service Requirements (3)
Principal
Interest
40,000
40,000
45,000
-
45,000
$ 18,629 $
50,000
14,100
110,000
10,800
65,499
7,500
75,999
45,911
(1) Total revenues ( including interest) exclusive of cap fees.
(2) Total operating expenses exclusive of deprecation.
(3) Includes principal and interest of revenue bonds only.
* Note: Previous to 2008 utility funds were combined and sewer fund revenue, and expenses were not reported separately.
Sewer revenue bond was paid off 2012
Total
63,629
64,100
120,800
72,999
121,910
Coverage
0.00
0.00
0.00
11.79
8.99
5.30
17.83
12.81
0.00
0.00
City of Chubbuck
Statistical Information
Water Fund
September 30, 2014
Schedule of Water Revenue and Production For Residential,
Commercial, and Government Accounts
Total Revenue $ 2,422,542
Estimated number of active customers 3,500
Total water produced (gallons) 824,761
Size
1" or less
1.5 "
2"
3"
4"
6"
8"
10"
Schedule of Water Rates
Monthly Base Fee (by meter size)
Price Circuit Breaker
$ 24.00 $ 16.80
69.10
106.95
222.45
364.60
736.70
1,153.75
1,762.60
Volumetric charge: $1.15 per 1,000 gallons metered water.
Volumetric charge for circuit breaker: $.80 per 1,000 gallons
metered water.
City of Chubbuck
Statistical Information
Sewer Fund
September 30, 2014
Schedule of Sewer Revenue For Residential, Commercial, and Government
Accounts
Total Revenue
Schedule of Sewer Rates
Monthly Base Fee
Regular
Residential $ 43.80
NWSI Residential 11.90
$ 3,093,116
Circuit Breaker
$ 30.66
Commercial rate for businesses North of the Interstate is $6.173 per $1,000 gallons
of water used.
Commercial rate for businesses South of the Interstate is $6.953 per $1,000
gallons of water used.
NWSI Commercial rate is winter water average usage divided by $6.85 and
multiplied by $11.90.
70
COMPLIANCE SECTION
71
Deaton & Company, Chartered = Y
Certified Public Accountants IMM -11i 111L. WIN
215 North 9th, Suite A
Pocatello, Idaho 83201-5278 -
(208)232-5825 _1Y
Members of Idaho Society of Certified Public Accountants Comm
Members of American Institute of Certified Public Accountants ME
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, 2014, 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 26, 2015.
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.
72
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
City of Chubbuck's Response to Findings
City of Chubbuck's response to the findings identified in our audit is described in the accompanying schedule
of findings and questioned costs. City of Chubbuck's response was not subjected to the auditing procedures
applied in the audit of the financial statements and, accordingly, we express no opinion on it.
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 26, 2015
73
CITY OF CHUBBUCK, IDAHO
SCHEDULE OF FINDINGS AND RESPONSES
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Findings Of Significant Deficiency And Responses
No findings noted
74