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
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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
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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. �,
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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.