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Home My WebLink About1999M I-WuLy- DD 0 WL)z 40*4 611,41-1 -------------- CITY OF CHUBBUCK, IDAHO GENERAL PURPOSE FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION SEPTEMBER 30, 1999 )ones, Yost, Hatt, Erickson P.A. CERTIFIED PUBLIC ACCOUNTANTS ¢ �/ Pocatello, Idaho 83205 CITY OF CHUBBUCK, IDAHO GENERAL PURPOSE FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION SEPTEMBER 30, 1999 11 CITY OF CHUBBUCK ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 1999 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 Auditin- g 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 Combining Balance Sheet - Enterprise Funds 30 Combining Statement of Revenue, Expenses, and Changes in Retained Earnings and Reserves - Enterprise Funds 31 Statistical Section: Ten Year Summary of Tax Levies 32 j ko Jones, Yost, Hatt, 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, 1999, and for the year then ended, as Iisted 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, 1999, 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. 416 SOUTH 4TH AVENUE P.O. BOX 4987 POCATELLO, IDAHO 83205 PHONE 208/233-5000 FAX 208/233-5010 r 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 March 6, 2000, 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, March 6, 2000. • 4 'i .� jkn Jones, Yost, Hatt, Erickson P.A. `J SCOTT N. JONES, CPA CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF KENT L. YOST, CPA, JD PO. Box 4987 American Institute of MORGAN). HATT, CPA Pocatello, Idaho 83205 Certified Public Accountants STACY L. ERICKSON, CPA Idaho Society of Honorable Mayor and Members of the Certified Public Accountants City Council City of Chubbuck, Idaho 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, 1999, and have issued our report thereon dated March 6, 2000. 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 Re ortin 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, /e, March 6' 2000. S 416 SOUTH 4TH AVENUE P.O. BOX 4987 POCATELLO, IDAHO 83205 PI.-IONE 2081233-5000 FAX 2081233-5010 CITY OF CHUBBUCK COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1999 ASSETS Cash Receivables: Property taxes State sales tax Highway users' tax Inventory phase-out tax Accotuits State liquor tax Amount to be provided for lease purchases Amount to be provided for general obligation bonds Restricted Cash: Constriction funds Replacement fiends Bond reserve Utility deposits Fixed assets Accumulated depreciation Total assets LIABILITIES: Accounts payable Deposits payable Deferred property taxes Capital leases payable General obligation bonds payable Payable from Restricted Cash: 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 cquity Total liabilities and fund equity $99,689 $1,071,455 $292,318 $791,037 45,613 74,509 103,821 31,998 343,531 11,636 366,888 381,803 419,935 90,000 6,110,389 (2,609,368 $3_6266 $1,071,455 $292,318 $5,894,215 The accompanying notes are an integral part of these statements. $56,743 $69,088 90,000 36,585 110,000 56,009 1,755,000 93,328 $0 $0 2,080,097 2,145,338 942,038 (498,626) 419,935 805,433 273,938 1,071,455 292,318 273,938 1,071,455 292,318 3,814,118 $367,266 $1,071,455 71455 $292,318_ $5,894,215 0 Proprietary Governmental Fund Types Fund Type Special Capital General Revenue Project Enterprise Fund Funds Funds Funds $99,689 $1,071,455 $292,318 $791,037 45,613 74,509 103,821 31,998 343,531 11,636 366,888 381,803 419,935 90,000 6,110,389 (2,609,368 $3_6266 $1,071,455 $292,318 $5,894,215 The accompanying notes are an integral part of these statements. $56,743 $69,088 90,000 36,585 110,000 56,009 1,755,000 93,328 $0 $0 2,080,097 2,145,338 942,038 (498,626) 419,935 805,433 273,938 1,071,455 292,318 273,938 1,071,455 292,318 3,814,118 $367,266 $1,071,455 71455 $292,318_ $5,894,215 0 Account Groups General General Totals Fixed Long-Term (Memorandum Assets Debt Only) $2,254,499 45,613 74,509 103,821 31,998 343,531 11,636 $141,397 141,397 260,000 260,000 366,888 381,803 419,935 90,000 $5,541,006 11,651,395 (2,609,368) $55006$4� $13,567,657 $125,831 90,000 36,585 $141,397 141,397 260,000 260,000 110,000 56,009 1,755,000 $0 401,397 2,574,822 5,541,006 5,541,006 2,145,338 942,038 (498,626) 419,935 805,433 1,637,711 5,541,006 0 10,992,835 $5,541,006 $401397 $13,567,657 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, 1999 Governmental Fund EXPENDITURES: General government 258,759 Special Capital Totals Law enforcement General Revenue Project (Memorandum REVENUE: Fund Funds Funds Only) Taxes $2,523,281 $492,723 $3,016,004 Licenses and permits 118,729 48,120 118,729 Law enforcement 76,560 76,560 Court revenue 62,886 62,886 Interest 9,888 25,235 $12,505 47,628 Donations 3,665,476 483120 21,325 21,325 Miscellaneous 19,409 4,878 33,830 24,287 Fire protection service 119,275 119,275 Reimbursements 53,418 405,505 458,923 Total revenue 2,983,446 928,341 33,830 3,945,617 EXPENDITURES: General government 258,759 258,759 Law enforcement 1,474,945 1,474,945 Fire control 330,797 330,797 Parks and recreation 428,514 428,514 Streets 911,638 48,120 959,758 Health and welfare 45,143 45,143 Capital outlay 159,965 159,965 Debt service 55,715 55,715 Total expenditures 3,665,476 483120 0 3,713,596 EXCESS REVENUE OR (EXPENDITURES) (682,030) 880,221 33,830 232,021 OTHER FINANCING SOURCES (USES): Transfers from other funds 670,000 670,000 Transfers to other funds (670,000) (670,000) EXCESS (SOURCES/USES) (12,030) 210,221 33,830 232,021 FUND BALANCE - BEGINNING 285,968 861,234 258,488 1,405,690 FUND BALANCE - ENDING $273,938 $1,071,455 $292,318 $1,637,711 i 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, 1999 OPERATING REVENUE: Service charges OPERATING EXPENSES: Personnel Personnel benefits Supplies Utilities Treatment - Pocatello Sanitation contract Other purchased services Depreciation Total operating expenses Water, Sewer and Garbage Enterprise Fund $2,486,473 479,484 184,530 265,601 110,228 282,498 423,349 141,995 106,763 1,994,448 OPERATING INCOME 492025 NONOPERATING REVENUE (EXPENSES): Interest income 91,606 Interest expense 111,933) Total nonoperating revenue (expenses) (20,327) NET INCOME 471,698 TRANSFERS - NET 0 RETAINED EARNINGS, RESERVES: Balance - Beginning 2,899,008 RETAINED EARNINGS, RESERVES: Balance - Ending $3,370,706 9 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, 1999 CASH FLOWS FROM OPERATING ACTIVITIES: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Decrease in accoLu-its receivable Increase in accounts payable Total adjustments Net cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of fixed assets CASH FLOWS FROM FINANCING ACTIVITIES: Utility deposits Bond principal payments NET (DECREASE) IN CASH CASH AT SEPTEMBER 30, 1998 CASA AT SEPTEMBER 30, 1999 10 The accompanying notes are an integral part of these statements. Water, Sewer and Garbage Enterprise Fund $471,698 106,763 8,592 22,490 137,845 609,543 (568,821) 5,133 105,000) (59,145) $2,049663 CITY OF CHUBBUCK STATEMENT OF REVENUE AND EXPENDITURES BUDGET AND ACTUAL GENERALFUND REVENUE: Property taxes Sales tax Inventory phaseout Highway users tax Highway - other Liquor tax Road and bridge tax Franchise taxes Subtotal Law enforcement Court revenue Licenses, permits, and fees Interest Rent Fire Protection Service Reimbursements and other Total revenue YEAR ENDED SEPTEMBER 30, 1999 Budget Actual Variance $1,569,809 $1,584,778 $14,969 265,000 266,006 1,006 90,000 110,888 20,888 325,000 339,795 14,795 104,000 64,712 (39,288) 40,000 47,924 7,924 39,000 37,952 (1,048) 50,700 71,226 20,526 2,483,509 2,523,281 39,772 134,634 76,560 (58,074) 60,000 62,886 2,886 129,800 118,729 (11,071) 10,000 9,888 (112) 22,500 19,409 (3,091) 119,275 119,275 0 131,650 53,418 (78,232) 3,091,368 2,983,446 (107,922) EXPENDITURES: General Government 244,561 258,759 (14,198) Law enforcement 1,525,600 1,474,945 50,655 Fire control 327,024 330,797 (3,773) Parks and recreation 267,708 428,514 (160,806) Streets 1,492,984 911,638 581,346 Health and welfare 12,617 45,143 (32,526) Capital outlay 145,459 159,965 (14,506) Debt service 55,415 55,715 (300) Total expenditures 4,071,368 3,665,476 405,892 _ EXCESS REVENUE OR (EXPENDITURES) (980,000) (682,030) 297,970 TRANSFERS FROM OTHER FUNDS 980,000 670,000 (310,000) EXCESS SOURCES (USES) $0 ($12,030 $l( 2,030) 11 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK STATEMENT OF REVENUE AND EXPENDITURES BUDGET AND ACTUAL SPECIAL REVENUE FUNDS YEAR ENDED SEPTEMBER 30, 1999 REVENUE: Local revenue State reimbursements EXPENDITURES: Streets EXCESS REVENUE: OTHER FINANCING SOURCES (USES): Transfers to other funds FUND BALANCE - beginning FUND BALANCE - ending 12 The accompanying notes are an integral part of these statements. Budget Actual Variance $500,000 $522,836 $22,836 0 405,505 405,505 $500,000 928,341 $428,341 $50,000 48,120 $1880 880,221 ($980,000) (670,000) $310,000 861,234 $1,071,455 CITY OF CHUBBUCK STATEMENT OF REVENUE AND EXPENDITURES BUDGET AND ACTUAL CAPITAL PROJECT FUNDS YEAR ENDED SEPTEMBER 30, 1999 Budget Actual REVENUE: Local revenue EXPENDITURES: General government EXCESS REVENUE FUND BALANCE - beginning FUND BALANCE - ending 13 The accompanying notes are an integral part of these statements. Variance $30,000 $33,830 $3,830 0 0 33,830 $292,318 W CITY OF CHUBBUCK STATEMENT OF CHANGES IN FIXED ASSE'T'S PROPRIETARY FUND TYPES ENTERPRISE FUND FIXED ASSETS: Balance at cost - September 30, 1998 Additions Balance at cost - September 30, 1999 YEAR ENDED SEPTEMBER 30, 1999 14 The accompanying notes are an integral part of these statements. Storage and Land Construction Distribution and in EEc nipment System Buildings Progress Totals $397,052 $3,403,753 $796,998 $943,765 $5,541,568 157,120 411,701 568,821 $554,172 $3,403,753 $796,998 $1 3_, 5� 6,110,389 14 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1999 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, Rind equity, revenues, and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual fluids 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 3Q, 1999 B. FUND ACCOUNTING - CONTINUED All proprietary fiends 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 fiends 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 fiend 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 arc said to present a summary of sources and uses of "available spendable resources" during a period. Fixed assets used in governmental fiurd 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, 1999 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 2 a CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 1999 CHANGES IN GENERAL FIXED ASSETS Note: Enterprise fund properties are reported separately and are not included in the above balance at September 30, 1999. GENERAL LONG-TERM DEBT (FIRE STATION BONDS) Issue of August 1, 1990: Due Balance Annual Balance 9-30-98 Additions Deletions 9-30-99 Description: Total 08/01/00 $35,000 Land and buildings $1,775,404 $83,242 $1,858,646 Fixtures and equipment 3,344,472 402,888 $65,000 3,682,360 Totals $5,119,876 $486,130 $ 65.000 $5,541,006 Note: Enterprise fund properties are reported separately and are not included in the above balance at September 30, 1999. GENERAL LONG-TERM DEBT (FIRE STATION BONDS) Issue of August 1, 1990: Due Annual Date _ Principal Rate Interest Total 08/01/00 $35,000 6.800% $18,070 $53,070 08/01/01 40,000 6.900% 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 $260,000 $67,340 $327,340_ Bonds retired in 1999 _ $35,000 18 4 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 1999 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, 1999, 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 $287,734, $261,721, and $292,771 for the three years ended September 30, 1999, 1998, and 1997 respectively. SUMMARY OF PROPERTY TAX ROLL OPERATION BY YEAR 1996 1998 1997 and prior Total Taxes receivable - September 30, 1998 $0 $18,042 1998 Gross Levy 1,595,212 Less: Cancellations and adjustments (2,528) (393) Cash received in 1998 - 1999 (1,562,460) (11 592 Taxes receivable - September 30, 1999 530,224 56,057 19 $13,770 $31,812 1,595,212 138 (2,783) 4 576 (1,578,628) 59,332 $45,613 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 1999 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 $99,689 Special revenue 1,071,455 Capital projects 292,318 Enterprise 2.,049,663 $3,513,125 CASH AND INVESTMENTS: Petty cash $170 Key bank 102,498 State pool 1,967,123 First Security - Trust 366,888 Idaho Central Credit Union 87,416 First Security - Sweep 869,030 First Security - Escrow 120,000 Total cash and investments $3,513,125 7. CAPITAL LEASE (FIRE TRUCKS): Interest Payment 6.5% Balance Balance $27,754.37 2-21-2000 $29,595.46 $1,841.09 .00 CAPITAL LEASE ( GRADER): Interest Payment 5.48% Balance Balance $113,643.11 7-1-2000 $16,533.64 $6,227.64 103,337.11 7-1-2001 109,000.00 5,662.89 .00 20 8 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 1999 SUMMARY OF MATURITIES AND INTEREST ON SEWER REVENUE BONDS BY YEAR Bonds retired in 1999 21 $30,000 Interest Interest Principal Due Due Due Total Year April 1 October 1 October 1 Due 1999 $18,750 $30,000 $67,500 2000 $17,850 17,850 30,000 65,700 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 $139,500 $158,250 $625,000 $941,500 Bonds retired in 1999 21 $30,000 CITY OF CHUBBUCK NOTES TO FINANCIAL STATEMENTS - CONTINUED SEPTEMBER 30, 1999 9. SUMMARY OF WATER FUND CERTIFICATES OF PARTICIPATION ISSUED IN MAY 1995 Payment Date _Principal Interest Total 10/01/99 $37,258.75 $37,258.75 04/01/00 $80,000.00 37,258.75 117,258.75 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 04/01/02 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 4,800.00 154,800.00 $1,240,000.00 $508,787.50 $1,748,787.50 Certificates paid in 1999 $75,000.00 22 (THIS PAGE INTENTIONALLY LEFT BLANK.) 23 CITY OF CHUBBUCK STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL GENERAL FUND YEAR ENDED SEPTEMBER 30, 1999 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 $27,200 ($5,675) 29,450 36,493 (7,043) 3,500 2,816 684 31,000 27,762 3,238 12,000 15,696 (3,696) 22,313 18,452 3,861 3,500 12,593 (9,093) 123,288 141,012 (17,724) 76,500 79,437 (2,937) 25,123 24,027 1,096 10,000 10,803 (803) 111,623 114,267 (2,644) 5,250 12 5,238 4,400 3,468 932 9,650 3,480 6,170 161,779 185,844 (24,065) 66,161 60,014 6,147 143,000 102,792 40,208 172,044 127,370 44,674 39,512 53,910 (14,398) 582,496 529,930 52,566 906,525 899,227 7,298 280,125 289,689 (9,564) 75,165 78,027 (2,862) 185,746 131,594 54,152 78,039 76,408 1,631 32,120 36,314 (4,194) 1,557,720 1,511,259 46,461 CITY OF CHUBBUCK STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL GENERAL FUND (CONTINUED) 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 fiend YEAR ENDED SEPTEMBER 30, 1999 25 The accompanying notes are an integral part of these statements. Budget Actual Variance $160,000 $192,379 ($32,379) 42,821 51,780 (8,959) 63,050 36,203 26,847 35,400 24,435 10,965 25,753 26,000 (247) 42,000 42,882 (882) 55,415 55,715 (300) 424,439 429,394 (4,955) 107,000 131,918 (24,918) 38,170 42,602 (4,432) 56,950 60,677 (3,727) 35,588 49,460 (13,872) 31,827 26,859 4,968 269,535 311,516 (41,981) 12,617 45,143 (32,526) 30,000 143,857 (113,857) 950,000 435,618 514,382 980,000 579,475 400,525 $4,071,368 $3,665,476 $405,892 ASSETS: Cash Total assets LIABILITIES: Total liabilities CITY OF CHUBBUCK COMBINING BALANCE SHEET SPECIAL REVENUE FUNDS SEPTEMBER 30, 1999 Street General Juvenile Police Guarantee LID Referral Development Training Fund Fund Fund Fund Fund Total $30,978 $74,340 $2,936 $897,704 $65,497 $1,071,455 $30,978 $74,340 $2,936 $897,704 $65,497 $1,071,455 $0 $0 $0 $0 $0 $0 FUND EQUITY: Fund balance 30,978 74,340 2,936 897,704 65,497 1,071,455 Total fund equity 30,978 74,340 2,936 897,704 65,497 1,071,455 Total liabilities and fiend equity $30,978 $74,340 $2,936 5897,704 _$65497 497 $1,071,455 26 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, 1999 REVENUE: Reimbursements Judgments Taxes and other Interest Total revenue EXPENDITURES: Streets Total expenditures EXCESS REVENUE OR (EXPENDITURES) TRANSFERS TO OTHER FUNDS TRANSFERS FROM OTHER FUNDS FUND BALANCE - BEGINNING FUND BALANCE - ENDING Street General Guarantee LID Fund Fund $46,734 $500 1,386 2,831 1,886 49,565 48,120 48,120 0 Juvenile Police Referral Development Training Fund Fund Fund Total $358,771 $405,505 $4,878 4,878 492,223 492,723 $396 17,785 2,837 25,235 396 868,779 7,715 928,341 0 0 0 48,120 0 0 0 48,120 (46,234) 49,565 396 868,779 7,715 880,221 (670,000) (670,000) 0 77,212 24,775 2,540 698,925 57,782 861,234 $30,978 $74,340 $2,936 $897,704_ $65,497 $1,071,455 27 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK COMBINING BALANCE SHEET CAPITAL PROJECT FUNDS SEPTEMBER 30, 1999 17.11 Capital Parks Parks Project #2 #1 Funds Fund Fund Total ASSETS: Cash $25,465 $65,854 $200,999 $292,318 Total assets $25,465 $65,854 $200,999 $292,318 LIABILITIES: Total liabilities $0 $0 $0 $0 FUND EQUITY: Fund balance Total fund equity Total liabilities and fund equity 25,465 65,854 200,999 292,318 25,465 65,854 200,999 292,318 $25,465 $65,854 $200,999 $292,318 28 The accompanying notes arc an integral part of these statements. CITY OF CHUBBUCK COMBINING STATEMENT OF REVENUE AND EXPENDITURES CAPITAL PROJECT FUNDS YEAR ENDED SEPTEMBER 30, 1999 REVENUE: Interest Donations Total revenue EXPENDITURES: Miscellaneous Total expenditures EXCESS REVENUE OR (EXPENDITURES) OTHER FINANCING SOURCES (USES): EXCESS (SOURCES/USES) FUND BALANCE - BEGINNING FUND BALANCE - ENDING Road 7,346 25,035 33,830 Capital Parks Parks 258,488 Project #2 #1 Funds Fund Fund Total $1,449 $2,221 $8,835 $12,505 5,125 16,200 21,325 1,449 7,346 25,035 33,830 0 0 0 0 1,449 7,346 25,035 33,830 1,449 7,346 25,035 33,830 24,016 58,508 175,964 258,488 $25,465 $65,854 $200,999 $292,318 29 The accompanying notes are an integral part of these statements. ASSETS: Cash Accounts receivable Restricted Cash: Replacement funds Bond and interest reserves Utility deposits Construction funds Fixed assets Accumulated depreciation Total assets LIABILITIES: Accounts payable Deposits payable Payable from Restricted Assets: Bonds payable - current Accrued bond interest payable Bonds payable - long term Total liabilities FUND EQUITY: Retained earnings Contributed capital Accumulated depreciation Reserve for debt service Other reserves Total fund equity Total liabilities and fund equity CITY OF CHUBBUCK C0MB1NlNG BALANCE SHEET ENTERPRISE FUNDS SEPTEMBER 30, 1999 Utilities Fund Depreciation Reserve Fund Sewer Repairs and Replacement Fund Sewer Legal Fund Total $367,407 419,935 419,935 $423,630 $791,037 343,531 3,008,685 206,447 175,356 423,630 3,814,118 343,531 $175,356 $423,630 $5,894,215 $206,447 $175,356 381,803 419,935 419,935 90,000 90,000 366,888 366,888 6,110,389 6,110,389 (2,609,368) (2,609,368) $5,088,782 $ Z06L447$175,356 $423,630 $5,894,215 $69,088 90,000 110,000 56,009 1,755,000 2,080,097 $0 $0 $69,088 90,000 110,000 56,009 1,755,000 $0 2,080,097 2,145,338 2,145,338 942,038 942,038 (498,626) (498,626) 419,935 419,935 206,447 175,356 423,630 805,433 3,008,685 206,447 175,356 423,630 3,814,118 $5,088,782_ $206,447 $175,356 $423,630 $5,894,215 30 The accompanying notes are an integral part of these statements. CITY OF CHUBBUCK COMBINING STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS AND RESERVES ENTERPRISE FUNDS YEAR ENDED SEPTEMBER 30, 1999 OPERATING REVENUE: Service Charges: Sanitation Water Sewer Other fees Internal service charges Total operating revenue OPERATING EXPENSES: Personnel Personnel benefits Supplies Utilities Treatment - Pocatello Sanitation contract Other purchased services Depreciation Total operating expenses OPERATING INCOME NONOPERATING REVENUE (EXPENSES): Interest income Interest expense Total nonoperating revenue (expenses) NET INCOME OTHER FINANCING SOURCES (USES): Transfers to other funds Transfers from other funds RETAINED EARNINGS - RESERVES: Balance - Beginning RETAINED EARNINGS - RESERVES: Balance - Ending Sewer Repairs 479,484 Depreciation and Server Utilities Reserve Replacement Legal Fund Fund Fund Fund Total $612,716 423,349 $612,716 989,921 -:`': 989,921 835,584 1,994,448 835,584 44,252 44,252 4,000 4,000 2,486,473 $0 $0 $0 2,486,473 479,484 479,484 184,530 184,530 265,601 265,601 110,228 110,228 282,498 282,498 423,349 423,349 141,995 141,995 106,763 106,763 1,994,448 0 0 0 1,994,448 492,025 0 0 0 492,025 53,638 7,470 9,074 21,424 91,606 (111,933) (111,933). (58,295) 7,470 9,074 21,424 (2.Q,327) 433,730 7,470 9,074 21,424 471,698 (17,215) 17,215 (17,215) 17,215 2,148,758 181,762 166,282 402,206 2,899,008 $2,565,273 $206,447 $175,356 $423,630 $3,370,706 31 The accompanying notes are an integral part of these statements. Year of Lew 1 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 CITY OF CHUBBUCK TEN YEAR SUMMARY OF TAX LEVIES SEPTEMBER 30, 1999 1) Levies are certified in October of the year shown. Taxes are primarily received in January and July of the subsequent year. 32 The accompanying notes are an integral part of these statements. Tax Value Le (Actual) $125,917,949 .005295 $688,999 124,789,912 .006040 767,051 127,017,877 .006231 795,941 128,308,276 .006879 891,999 131,805,956 .006844 954,405 142,239,506 .008472 1,227,433 151,290,568 .008199 1,258,341 159,305,372 .008131 1,326,249 177,054,946 .008126 1,492,747 195,249,944 .008014 1,595,212 1) Levies are certified in October of the year shown. Taxes are primarily received in January and July of the subsequent year. 32 The accompanying notes are an integral part of these statements.