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HomeMy WebLinkAbout2000CITY OF CHUBBUCK, IDAHO GENERAL PURPOSE FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION SEPTEMBER 30, 2000 Jones, Yost, Hatt, Erickson P.A. CERTIFIED PUBLIC ACCOUNTANTS rocatelfo, Idaho mos CITY OF CHUBBUCK, IDAHO GENERAL PURPOSE FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION SEPTEMBER 30, 2000 c i L CITY OF CHUBBUCK ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 2000 TABLE OF CONTENTS Page Numbers Independent Auditor's Report 3 Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 5 General Purpose Financial Statements: Combined Balance Sheet - All Fund Types and Account Groups 6 Combined Statement of Revenue, Expenditures, and Changes in Fund Balance - All Governmental Fund Types 8 Combined Statement of Revenue, Expenses, and Changes in Retained Earnings, Reserves - All Proprietary Fund Types 9 Statement of Cash Flows - All Proprietary Fund Types 10 Statement of Revenue and Expenditures - Budget and Actual: General Fund 11 Special Revenue Funds 12 Capital Project Funds 13 Proprietary Fund Types: Statement of Changes in Fixed Assets 14 Notes to Financial Statements 15 OTHER STATEMENTS AND SCHEDULES Statement of Expenditures - Budget and Actual, General Fund 24 Combining Balance Sheet - Special Revenue Funds 26 Combining Statement of Revenue, Expenditures, and Changes in Fund Balance - Special Revenue Funds 27 Combining Balance Sheet - Capital Project Funds 28 Combining Statement of Revenue and Expenditures - Capital Project Funds 29 Statistical Section: Ten Year Summary of Tax Levies 30 2 r jkn Jones, Yost, Hatt, !t 6 Erickson P.A. SCOTT N. JONES, CPA CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF KENT L. YOST, CPA, JD _ P.O. Box 4987 American Institute of MORGAN J. HATT, CPA Pocatello, Idaho 83205 Certified Public Accountants STACY L. ERICKSON, CPA Idaho Society of Certified Public Accountants Honorable Mayor and Members of the City Council City of Chubbuck, Idaho Independent Auditor's Report We have audited the accompanying general purpose financial statements of the City of Chubbuck, Idaho, as of September 30, 2000, and for the year then ended, as listed in the table of contents. These general purpose financial statements are the responsibility of City management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards 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 conduct the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Chubbuck, Idaho, as of September 30, 2000, and the results of its operations and changes in cash flow of its proprietary funds for the year then ended in conformity with generally accepted accounting principles. 3 416 SOUTH 4TH AVENUE I P.O. BOX 4987 1 POCATELLO, IDAHO 83205 PHONE 208/233-5000 FAX 2081233-5010 Honorable Mayor and Members of the City Council City of Chubbuck, Idaho Page 2 In accordance with Government Auditing_ Standards, we have also issued a report dated April 20, 2001, on our consideration of the City of Chubbuck's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The accompanying financial information listed on supporting schedules in the table of contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of the City of Chubbuck. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all material respects in relation to the general purpose financial statements taken as a whole. Pocatello, Idaho, April 20, 2001. Y"'J`2G2G�,/�GCSoT. �, 0 r jkn Jones, Yost, Hatt, 6 Erickson P.A. SCOTT N. JONES, CPA CERTIFIED PUBLIC ACCOUNTANTS KENT.L. YOST, CPA, JD P.O. Box 4987 MORGAN 1, HATT, CPA Pocatello, Idaho 83205 STACY L. ERICKSON, CPA Honorable Mayor and Members of the City Council City of Chubbuck, Idaho MEMBERS OF American Institute of Certified Public Accountants Idaho Society of Certified Public Accountants Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards We have audited the financial statements of the City of Chubbuck, Idaho, as of and for the year ended September 30, 2000, and have issued our report thereon dated April 20, 2001. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Compliance As part of obtaining reasonable assurance about whether the City's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, 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 that are required to be reported under Government Auditing Standards. Internal Control Over Financial Reporting In planning and performing our audit, we considered the City's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. This report is intended for the information of the audit committee, management and Federal awarding agencies. However, this report is a matter of public record and its distribution is not limited. Pocatello, Idaho, , y'1L22GU,�LC�T 2 April 20, 2001. 5 416 SOUTH 41H AVENUE PO. BOX 4987 POCATELLO, IDAHO 83205 PHONE 208/233-5000 FAX 2081233-5010 CITY OF CHUBBUCK COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 2000 ASSETS: Cash Receivables: Property taxes State sales tax Highway users' tax Inventory phase-out tax Franchise fees Accounts State liquor tax Amount to be provided for lease purchases Amount to be provided for general obligation bonds Restricted Cash: Construction funds Replacement funds Bond reserve Fixed assets Accumulated depreciation Total assets LIABILITIES: Accounts payable Deferred property taxes Capital leases payable General obligation bonds payable Bonds payable - current Accrued bond interest payable Bonds payable - long term Total liabilities FUND EQUITY: Investment in general fixed assets Retained earnings Contributed capital Accumulated depreciation Reserve for debt service Reserve for replacement funds Fund balance - undesignated Total fund equity Total liabilities and fund equity The accompanying notes are an integral part of these statements. Proprietary Governmental Fund Types Fund Type Special Capital General Revenue Project Enterprise Fund Funds Funds Fund ($7,803) $1,250,603 $104,919 $612,581 49,461 40,497 78,444 102.,891 34,594 27,394 398,584 11,492 226,348 847,038 452,734 6,269,320 (2,761,650) $296,473 $1,291,100 $104,919 $6,044,955_ $25,553 $23,335 40,433 $40,497 115,000 53,049 1,640,000 65,986 40,497 0 1,831,384 2,493,938 942,038 (522,177) 452,734 847,038 230,487 1,250, 603 104,919 230,487 1,250,603 104,919 4,213,571 $296,473 $1,291,100 $104,919_ $6,044,955 I it Account Groups General General Totals Fixed Long -Term (Memorandum Assets Debt Only) $1,960,300 89,958 78,444 102,891 34,594 27,394 398,584 11,492 $151,750 151,750 225,000 225,000 226,348 847,038 452,734 $6,062,554 12,331,874 _ (2,761,650) $6,062,554_ $376,750 $14,176,751 $48,888 80,930 $151,750 151,750 225,000 225,000 115,000 53,049 _ 1,640,000 $0 376,750 2,314,617 6,062,554 6,062,554 2,493,938 942,038 (522,177) 452,734 847,038 1,586,009 6,062,554 0 11,862,134 $6,062,554 $376,750 $14,176,751 7 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK COMBINED STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL. FUND TYPES YEAR ENDED SEPTEMBER 30, 2000 REVENUE: Property taxes Franchise fees Licenses and permits Law enforcement Court revenue Road and bridge tax Inventory phase out State Liquor Highway users State sales tax Interest Donations Miscellaneous Fire protection service Total revenue EXPENDITURES: General government Law enforcement Fire control Parks and recreation Streets Health and welfare Capital outlay Debt service Total expenditures EXCESS REVENUE OR (EXPENDITURES) OTHER FINANCING SOURCES (USES): Transfers from other funds Transfers to other funds EXCESS (SOURCES/USES) FUND BALANCE - BEGINNING FUND BALANCE - ENDING Governmental Fund 701,132 228,274 929,406 701,132 228,274 (929,406) (43,451) 179,146 (187,400) (51,705) 273,938 1,071,457 292,319 1,637,714 $230,487 $1,250,603 $104,919 $1,586,009 8 The accompanying notes are an integral part of these statements. Special Capital Totals General Revenue Project (Memorandum Fund Funds Funds _ Only) $1,701,571 $598,400 $2,299,971 134,164 134,164 124,869 124,869 79,308 79,308 50,908 50,908 34,822 34,822 121,346 121,346 54,171 54,171 398,231 398,231 285,748 285,748 6,459 47,089 $17,568 71,116 23,306 23,306 103,502 7,015 110,517 124,206 124,206 3,219,305 652,504 40,874 3,912,683 214,512 2143512 1,573,093 1,573,093 373,792 373,792 313,764 313,764 962,794 500 963,294 9,285 9,285 462,978 462,978 53,670 53,670 3,963,888 500 0 3,964,388 (744,583) 652,004 40,874 (51,705) 701,132 228,274 929,406 701,132 228,274 (929,406) (43,451) 179,146 (187,400) (51,705) 273,938 1,071,457 292,319 1,637,714 $230,487 $1,250,603 $104,919 $1,586,009 8 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK COMBINED STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS, RESERVES ALL PROPRIETARY FUND TYPES YEAR ENDED SEPTEMBER 30, 2000 Water, Sewer and Garbage Enterprise OPERATING REVENUE: Fund Service charges $2,766,710 OPERATING EXPENSES: Personnel 587,104 Personnel benefits 236,739 Repairs and maintenance 425,554 Supplies 141,321 Utilities 64,378 Treatment - Pocatello 320,448 Sanitation contract 474,530 Other purchased services 83,321 Depreciation 128,732 Total operating expenses 2,462,127 OPERATING INCOME 304,583 NONOPERATING REVENUE (EXPENSES): Interest income 136,578 Interest expense (108,158) Total nonoperating revenue (expenses) 28,420 NET INCOME 333,003 DEPOSITS RECLASSIFIED 90,001 RETAINED EARNINGS, RESERVES: Balance - Beginning 3,370,706 RETAINED EARNINGS, RESERVES: Balance - Ending $3,793,710 0 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES YEAR ENDED SEPTEMBER 30, 2000 CASH FLOWS FROM FINANCING ACTIVITIES: Bond principal payments (110,000 NET INCREASE IN CASH 89,038 CASH AT SEPTEMBER 30, 1999 2,049,663 CASH AT SEPTEMBER 30, 2000 $2,138,701 10 The accompanying notes are an integral part of these statements. Water, Sewer and Garbage Enterprise CASH FLOWS FROM OPERATING ACTIVITIES: Fund Net income $333,003 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 128,732 Increase in accounts receivable (55,053) Decrease in accounts payable (48,713) Total adjustments 24,966 Net cash provided by operating activities 357,969 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of fixed assets (158,931) CASH FLOWS FROM FINANCING ACTIVITIES: Bond principal payments (110,000 NET INCREASE IN CASH 89,038 CASH AT SEPTEMBER 30, 1999 2,049,663 CASH AT SEPTEMBER 30, 2000 $2,138,701 10 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK STATEMENT OF REVENUE AND EXPENDITURES BUDGET AND ACTUAL GENERAL FUND YEAR ENDED SEPTEMBER 30, 2000 REVENUE: Property taxes State sales tax Inventory phaseout Highway users tax Liquor tax Road and bridge tax Franchise fees Law enforcement Court revenue Licenses, permits, and fees Interest Fire Protection Service Miscellaneous Total revenue EXPENDITURES: General government Law enforcement Fire control Parks and recreation Streets Health and welfare Capital outlay Debt service Total expenditures EXCESS REVENUE OR (EXPENDITURES) TRANSFERS FROM OTHER FUNDS EXCESS SOURCES (USES) 11 The accompanying notes are an integral part of these statements. Budget $1,669,403 275,000 90,000 399,000 40,000 39,000 100,444 88,207 60,000 119,700 15,100 119,275 120,821 3.135.950 241,541 1,540,607 354,222 257,644 1,350,430 12,900 266,136 53,070 Actual $1,701,571 r 285,748- 121,346- 398,231 85,748121,346- 398,231 54,171-, 34,822 ' 134,164 +� 79,308,1 50,908.- 124,869 0,908f124,869 6,459 r 124,206 103,502 3,219,305 214,512 1,573,093 373,792 313,764 962,794 9,285 462,978 53,670 Variance $32,168 10,748 31,346 (769) 14,171 (4,178) 33,720 (8,899) (9,092) 5,169 (8,641) 4,931 17,319 83.355 27,029 (32,486) (19,570) (56,120) 387,636 3,615 (196,842) (600) 4,076,550 3,963,888 112,662 (940,600) (744,583) 196,017 940,600 701,132 (239,468) $0 ($43,451 ($43,451) CITY OF CHUBBUCK STATEMENT OF REVENUE AND EXPENDITURES BUDGET AND ACTUAL SPECIAL REVENUE FUNDS YEAR ENDED SEPTEMBER 30, 2000 REVENUE: Local revenue EXPENDITURES: Streets EXCESS REVENUE: OTHER FINANCING SOURCES (USES): Transfers from other funds Transfers to other funds FUND BALANCE - beginning FUND BALANCE - ending 12 The accompanying notes are an integral part of these statements. Budget Actual Variance $712,326 $652,504 ($59,822) $712,326 652,504 ($59,822) $500 500 $0 652,004 $228,274 228,274 $0 (712,326) (701,132) 11,194 1,071,457 $1,250,603 C�Kf11Lomi: e Wsm STATEMENT OF REVENUE AND EXPENDITURES BUDGET AND ACTUAL CAPITAL PROJECT FUNDS YEAR ENDED SEPTEMBER 30, 2000 REVENUE: Local revenue EXPENDITURES: General government EXCESS REVENUE OTHER FINANCING SERVICES (USES) Transfers to other funds FUND BALANCE - beginning FUND BALANCE - ending Budget Actual $40,000 $40,874 13 The accompanying notes are an integral part of these statements. 0 0 40,874 (228,274) (228,274) 292,319 $104,919 Variance $874 I C CITY OF CHUBBUCK STATEMENT OF CHANGES IN FIXED ASSETS PROPRIETARY FUND TYPES YEAR ENDED SEPTEMBER 30, 2000 14 The accompanying notes are an integral part of these statements. Storage and Land Construction Distribution and in ENTERPRISE FUND FIXED ASSETS: Equipment System Buildings Progress Totals Balance at cost - September 30, 1999 $554,172 $3,403,753 $796,998 $1,355,466 $6,110,389 Additions 5,341 153,590 158,931 Balance at cost - September 30, 2000 $559,513 $3,403,753 $796,998 $1,509,056 6,269,320 14 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2000 1. A. REPORTING ENTITY The City of Chubbuck, Idaho was incorporated on December 6, 1949. For financial reporting purposes, management has considered potential component units. The decision to include a potential component unit in the reporting entity is made by applying the criteria set forth in generally accepted accounting principles. The basic criterion for including a potential component unit within the reporting entity is the governing body's responsibility for financial accountability. Financial accountability is defined as the level of accountability that exists if a primary government appoints a voting majority of an organization's governing board and is either able to impose its will on that organization or there is potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. A primary government may also be financially accountable for the governmental organizations that are fiscally dependent on it. Based upon the application of these criteria, the City of Chubbuck has no potential component units. B. FUND ACCOUNTING The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. GOVERNMENTAL FUNDS General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. PROPRIETARY FUNDS Enterprise Funds - Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. 15 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 2000 B. FUND ACCOUNTING - CONTINUED All proprietary funds are accounted for on a cost of services or "capital maintenance measurement focus. This means that all assets and liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. Due to small amounts of losses, the City does not make an allowance for doubtful accounts in the Water and Sewer Enterprise Funds. C. FIXED ASSETS The accounting and reporting treatment applied to the fixed assets associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of "available spendable resources." Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. No depreciation has been provided on general fixed assets. Infrastructure is not included in fixed assets. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. An account group is not a "fund." It is concerned only with the measurement of financial position. It is not involved with measurement of results of operations. D. BASIS OF ACCOUNTING Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. 16 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 2000 D. BASIS OF ACCOUNTING - CONTINUED All governmental funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. Revenues susceptible to accrual are property taxes and intergovernmental revenues. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. All proprietary funds are accounted for using the accrual basis of accounting. Their revenues are recognized when they are earned, and their expenses are recognized when they are incurred. E. BUDGETS AND BUDGETARY ACCOUNTING The City follows budgeting procedures as outlined in the Idaho State Code. Budgets are prepared on the modified accrual basis. F. INVENTORY Inventory is expensed when purchased. No provision is made in the financial statements for inventory on hand at year end since said amounts are immaterial. G. TOTAL COLUMNS ON COMBINED STATEMENTS Total columns on the Combined Statements are captioned Memorandum Only to indicate that they are presented only to facilitate financial analysis. Data in these columns does not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. H. PROPERTY TAX Property taxes are levied on the third Monday in September and attach as an enforceable lien on property as of January 1. Real taxes are payable in two installments on December 20, and June 20, of the following year. Personal taxes are payable in one installment on December 20. The County bills and collects property taxes for the City. Taxes not received within sixty days following year end are deferred. 17 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 2000 2. CHANGES IN GENERAL FIXED ASSETS Note: Enterprise fund properties are reported separately and are not included in the above balance. 3. GENERAL LONG-TERM DEBT (FIRE STATION BONDS) Issue of August 1, 1990: Due Balance Annual Balance 9-30-99 Additions Deletions 9-30-00 Description: Total 08/01/01 $40,000 Land and buildings $1,858,646 $37,237 $1,895,883 Fixtures and equipment 3,682,360 523,990 $39,679 4,166,671 Totals5 541 006 7.000% $6,062,554 Note: Enterprise fund properties are reported separately and are not included in the above balance. 3. GENERAL LONG-TERM DEBT (FIRE STATION BONDS) Issue of August 1, 1990: Due Annual Date Principal Rate Interest Total 08/01/01 $40,000 6900% $15,690 $55,690 08/01/02 40,000 6.950% 12,930 52,930 08/01/03 45,000 7.000% 10,150 55,150 08/01/04 50,000 7.000% 7,000 57,000 08/01/05 50,000 7.000% _ 3,500 53,500 225 000 4 274 270 Bonds retired in 2000 35 000 IV1 4. CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 2000 RETIREMENT PLAN Public Employee Retirement System of Idaho - The Public Employee Retirement System of Idaho (PERSI), a cost sharing multiple -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 contribute. Designed as a mandatory system for eligible state and school district employees, the legislation provided for political subdivisions to participate by contractual agreement with PERSI. Financial reports for the plan are available from PERSI upon request. After five years of credited service, 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 year of credited service, the annual service retirement allowance is 1.917% or 2.225% (depending upon employee classification) of the average monthly salary for the highest consecutive 42 months. For the year ended June 30, 2000, the required contributions rates, as determined by PERSI, are as follows. Employee Employer General Member 5.86% 9.77% Police/Firefighter Member 7.21% 10.01% The City of Chubbuck's contributions required and paid were $310,812, $287,734, and $261,721 for the three years ended September 30, 2000, 1999, and 1998 respectively. SUMMARY OF PROPERTY TAX ROLL OPERATION BY YEAR 19 1997 1999 1998 and prior Total Taxes receivable - September 30, 1999 $0 $30,224 $15,389 $45,613 1999 Gross Levy 1,717,134 1,717,134 Less: Cancellations and adjustments (5,175) 210 (7,359) (12,324) Cash received in 1999 - 2000 (1,675,341) (21,169) (4,452) (1,700,962) Taxes receivable - September 30, 2000 $36,618 —12,,265 3 578 49 461 19 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 2000 6. CASH ON HAND, IN BANKS, AND INVESTED All cash and investments are insured or fully collateralized with certificates held by agents in the City's name. CASH BALANCE IN FUNDS: General $(7,803) Special revenue 1,250,603 Capital projects 104,919 Enterprise 2,13 8,701 3.4.420 CASH AND INVESTMENTS: Petty cash $170 Key bank 104,345 State pool 1,406,481 First Security - Trust 266,348 First Security - Sweep 1,599,076 First Security - Escrow 150,000 Total cash and investments 3 486 420 7. CAPITAL LEASE (POLICE AUTOS): _ Payment Balance 2-09-2001 $51,404.88 CAPITAL LEASE ( GRADER): Balance 7-1-2001 Payment $109,000.00 20 Interest Balance $48,412.78 $2,992.10 .00 Interest 5.48% Balance $103,337.11 $5,662.89 .00 :Kr4 .t :: l4m NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 2000 SUMMARY OF MATURITIES AND INTEREST ON SEWER REVENUE BONDS BY YEAR Bonds retired in 2000 21 30 000 Interest Interest Principal Due Due Due Total Year April i October 1 October 1 Due 2000 $17,850 $30,000 $47,850 2001 $16,950 16,950 35,000 68,900 2002 15,900 15,900 35,000 66,800 2003 14,850 14,850 40,000 69,700 2004 13,650 13,650 40,000 67,300 2005 12,450 12,450 40,000 64,900 2006 11,250 11,250 45,000 67,500 2007 9,900 9,900 45,000 64,800 2008 8,550 8,550 50,000 67,100 2009 7,050 7,050 55,000 69,100 2010 5,400 5,400 55,000 65,800 2011 3,750 3,750 60,000 67,500 2012 1,950 1,950 65,000 68,900 Totals 121 650 13 595 000 856 150 Bonds retired in 2000 21 30 000 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 2000 9. SUMMARY OF WATER FUND CERTIFICATES OF PARTICIPATION ISSUED IN MAY 1995 Payment Date Principal Interest Total 10/01/00 $35,198.75 $35,198.75 04/01/01 $85,000.00 35,198.75 120,198.75 10/01/01 32,946.25 32,946.25 04{01102 90,000.00 32,946.25 122,946.25 10/01/02 30,471.25 30,471.25 04/01/03 100,000.00 30,471.25 130,471.25 10/01/03 27,621.25 27,621.25 04/01/04 105,000.00 27,621.25 132,621.25 10/01/04 24,523.75 24,523.75 04/01/05 110,000.00 24,523.75 134,523.75 10/01/05 21,223.75 21,223.75 04/01/06 120,000.00 21,223.75 141,223.75 10/01/06 17,503.75 17,503.75 04/01/07 125,000.00 17,503.75 142,503.75 10/01/07 13,566.25 13,566.25 04/01/08 135,000.00 13,566.25 148,566.25 10/01/08 9,280.00 9,280.00 04/01/09 140,000.00 9,280.00 149,280.00 10/01/09 4,800.00 4,800.00 04/01/10 150,000.00 4800.00 154 800.00 $1,160,000.00 $434,270A0 $1,594.270.00 Certificates paid in 2000 $80,000.00 22 (THIS PAGE INTENTIONALLY LEFT BLANK) 23 CITY OF CHUBBUCK STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL GENERAL FUND YEAR ENDED SEPTEMBER 30, 2000 GENERAL GOVERNMENT: Salaries Personnel benefits Supplies Purchased services Insurance Building maintenance Miscellaneous BUILDING INSPECTION (Gen. Govt.): Salaries Personnel benefits Supplies and other ENGINEERING (Gen. Govt.): Salaries Supplies and other STREETS: Salaries Personnel benefits Supplies Purchased services Capital outlay LAW ENFORCEMENT: Salaries Personnel benefits Supplies Purchased services Lease payments Capital outlay 24 The accompanying notes are an integral part of these statements. Budget Actual Variance $21,525 $16,635 $4,890 20,469 17,140 3,329 7,041 7,409 (368) 32,241 21,369 10,872 12,000 14,178 (2,178) 22,413 16,969 5,444 3,600 3,347 253 119,289 97,047 22,242 75,609 74,289 1,320 25,679 26,109 (430) 11,314 8,216 3,098 112,602 108,614 3,988 5,250 6,083 (833) 4,400 2,768 1,632 9,650 8,851 799 169,868 137,019 32,849 74,306 77,232 (2,926) 225,966 148,835 77,131 70,300 63,757 6,543 12,066 70,964 (58,898) 552,506 497,807 54,699 916,922 968,333 (51,411) 316,476 316,558 (82) 93,295 87,690 5,605 133,339 121,753 11,586 80,575 78,759 1,816 56,428 63,417 6,989 1,597,035 1,636,510 (39,475) CITY OF CHUBBUCK STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL GENERAL FUND (CONTINUED) YEAR ENDED SEPTEMBER 30, 2000 FIRE CONTROL: Salaries Personnel benefits Supplies Purchased services Lease payments Capital outlay Debt service PARKS AND RECREATION: Salaries Personnel benefits Supplies and repairs Purchased services Capital outlay HEALTH AND WELFARE: Contributions URBAN RENEWAL: Parks capital outlay Roads Total general fund 25 The accompanying notes are an integral part of these statements. Budget Actual Variance $192,020 $212,641 ($20,621) 54,158 58,025 (3,867) 50,350 57,354 (7,004) 28,098 16,176 11,922 29,596 29,596 0 58,204 37,278 20,926 53,070 53,670 (600) 465,496 464,740 756 115,000 158,445 (43,445) 41,496 45,186 (3,690) 70,060 76,632 (6,572) 31,088 33,501 (2,413) 8,838 48,902 (40,064) 266,482 362,666 -- (96,184) 12,900 9,285 3,615 130,600 242,417 (111,817) 810,000 535,951 274,049 940,600 778,368 162,232 $4,076,560 $3,963,888_ $112,672 CITY OF CHUBBUCK COMBINING BALANCE SHEET SPECIAL REVENUE FUNDS SEPTEMBER 30, 2000 Street General Juvenile Guarantee LID Referral Development Court Fund Fund Fund Fund Fund Total ASSETS: Cash $32,076 $78,262 $3,538 $1,060,187 $76,540 $1,250,603 Taxes receivable 40,497 40,497 Total assets $32,076 $78,262 $3,538 $1 100 684 $762540, $1,291,100 LIABILITIES: Deferred revenue $40,497 $40,497 Total liabilities $0 $0 $0 40,497 $0 40,497 FUND EQUITY: Fund balance 32,076 78,262 3,538 1,060,187 76,540 1,250,603 Total fund equity 32,076 78,262 3,538 1,060,187 76,540 1,250,603 Total liabilities and fund equity $32,076 $78,262 $3,538$1,100,684 $76,540 $1291,100 25 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK COMBINING STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE SPECIAL REVENUE FUNDS YEAR ENDED SEPTEMBER 30, 2000 27 The accompanying notes are an integral part of these statements. Street General Juvenile Guarantee LID Referral Development Court Fund Fund Fund Fund Fund Total REVENUE: Judgments $7,015 $7,015 Taxes and other $598,400 598,400 Interest $1,597 $3,923 $602 36,940 4,027 47,089 Total revenue 1,597 3,923 602 635,340 11,042 652,504 EXPENDITURES: Streets 500 0 0 0 0 500 Total expenditures 500 0 0 0 0 500 EXCESS REVENUE OR (EXPENDITURES) 1,097 3,923 602 635,340 11,042 652,004 TRANSFERS TO OTHER FUNDS (701,132) (701,132) TRANSFERS FROM OTHER FUNDS 228,274 228,274 FUND BALANCE - BEGINNING 30,979 74,339 2,936 897,705 65,498 1,071,457 FUND BALANCE -ENDING $32,076 $78,262 $3,538 $1,060,187 $76,540 $1,250,603 27 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK COMBINING BALANCE SHEET CAPITAL PROJECT FUNDS SEPTEMBER 30, 2000 Capital Parks Parks Projects #1 #2 Fund Fund Fund Total ASSETS: Cash $27,148 $77,771 $0 $104,919 Total assets $27148 $77,771 $0 $104,919 LIABILITIES: Total liabilities $0 $0 $0 $0 FUND EQUITY: Fund balance 27,148 77,771 0 104,919 Total fund equity 27,148 77,771 0 104,919 Total liabilities and fund equity $27,148 $77,771 $0 $104,919 28 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK COMBINING STATEMENT OF REVENUE AND EXPENDITURES CAPITAL PROJECT FUNDS YEAR ENDED SEPTEMBER 30, 2000 Total expenditures EXCESS REVENUE OR (EXPENDITURES) OTHER FINANCING SOURCES (USES): EXCESS (SOURCES/USES) FUND BALANCE - BEGINNING FUND BALANCE - ENDING 0 0 0 0 1,683 Capital Parks Parks (151,418) Project #1 #2 Funds Fund Fund Total REVENUE: 25,465 201,000 65,854 292,319 Interest $1,683 $11,389 $4,496 $17,568 Donations $0 16,800 6,506 23,306 Total revenue 1,683 28,189 11,002 40,874 EXPENDITURES: Miscellaneous Total expenditures EXCESS REVENUE OR (EXPENDITURES) OTHER FINANCING SOURCES (USES): EXCESS (SOURCES/USES) FUND BALANCE - BEGINNING FUND BALANCE - ENDING 0 0 0 0 1,683 28,189 11,002 40,874 (151,418) (76,856) (228,274) 1,683 (123,229) (65,854) (187,400) 25,465 201,000 65,854 292,319 $27,148 $771771 $0 $104,919 29 The accompanying notes are an integral part of these statements. Year of Le 1 CITY OF CHUBBUCK TEN YEAR SUMMARY OF TAX LEVIES SEPTEMBER 30, 2000 Value Tax Le (Actual) 1990 $124,789,912 .006040 $767,051 1991 127,017,877 ,006231 795,941 1992 128,308,276 .006879 891,999 1993 131,805,956 .006844 954,405 1994 142,239,506 .008472 1,227,433 1995 151,290,568 .008199 1,258,341 1996 159,305,372 .008131 1,326,249 1997 177,054,946 .008126 1,492,747 1998 195,249,944 .008014 1,595,212 1999 208,914,049 .007991 1,717,134 1) Levies are certified in October of the year shown. Taxes are primarily received in January and July of the subsequent year. 30 The accompanying notes are an integral part of these statements.