HomeMy WebLinkAbout1997/qq 6 _q,7
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Jones, Yost, Hatt,
Erickson P.A.
CERTIFIED PUBLIC ACCOUNTAWS
Pocatello, Idaho 83205
CITY OF CHtJBBUCK, IDAHO
GENERAL PURPOSE FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
SEPTEMBER 30, 1997
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CITY OF CHUBBUCK
ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 1997
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 4
General Purpose Financial Statements
Combined Balance Sheet - All Fund Types and Account Groups 5
Combined Statement of Revenue, Expenditures, and Changes in Fund
Balance - All Governmental Fund Types 7
Combined Statement of Revenue, Expenses, and Changes in Retained
Earnings, Reserves - All Proprietary Fund Types 8
Statement of Cash Flows - All Proprietary Fund Types 9
Statement of Revenue and Expenditures - Budget and Actual:
General Fund 10
Special Revenue Funds 1 I
Capital Project Funds 12
Proprietary Fund Types:
Statement of Changes in Fixed Assets 1
Notes to Financial Statements 14
OTHER STATEMENTS AND SCHEDULES
Statement of Expenditures - Budget and Actual, General Fund 23
Combining Balance Sheet - Special Revenue Funds 25
Combining Statement of Revenue, Expenditures, and Changes in Fund
Balance - Special Revenue Funds 26
Combining Balance Sheet - Capital Project Funds 27
Combining Statement of Revenue and Expenditures - Capital Project Funds 28
Combining Balance Sheet - Enterprise Funds 29
Combining Statement of Revenue, Expenses, and Changes in Retained Earnings
and Reserves - Enterprise Funds 30
Statistical Section:
Ten Year Summary of Tax Levies 31
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jkn Jones, Yost, Hatt,
J6 Erickson P.A.
SCOTT N. JONES, CPA CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF
KENT L. YOST, CPA, JD RO. 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, 1997, 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,
1997, 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.
In accordance with Government Auditing Standards, we have also issued a report dated
March 16, 1998, 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, A%r/y-"A
March 16, I998.
416 SOUTH 4TH AVENUE P.O, BOX 4987 POCATELL, IDAHO 83205 PHONE 208/233-5000 FAX 2081233-5010
jJkn
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
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, 1997, and have issued our report thereon dated March 16, 1998. 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,
March 16, 1998.
416 SOUTH 4TH AVENUE
. A&/,��,
PO. BOX 4987 • POCATELA-0, IDAHO 83205 PHONE 208/233-5000 • FAX 208/233-5010
CITY OF CHUBBUCK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
SEPTEMBER 30, 1997
ASSETS:
Cash
Receivables:
Property taxes (Note 1-H)
State sales tax
Highway users' tax
Inventory phase-out tax
Accounts (Note 1-B)
State liquor tax
Note receivable
Amount to be provided for lease purchases
Amount to be provided for general obligation bonds
Restricted Cash:
Construction funds
Replacement funds
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 equity
Total liabilities and fund equity
Governmental Fund Types
Proprietary
Fund Type
Special
Capital
General
Revenue
Project
Enterprise
Fund
Funds
Funds
Funds
$74,169
$401,162
$225,080
$517,356
30,478
67,547
105,924
25,946
224,348
8,496
4,237
997,443
350,515
364,720
80,750
5,166,921
(2,299,089)
$316,797 $401162 $225,080 $5,402,964
$20,005 $72,986
80,750
21,450
100,000
63,838
1,970,000
41,455 $0 $0 2,287,574
1,547,747
942,038
(451,524)
364,720
712,409
275,342 401,162 225,080
275,342 401,162 225,080 3,115,390
$316,797 $401,162 $225,080 $5 402 964
The accompanying notes are an integral part of these statements.
5
r
Account Groups
General General Totals
Fixed Long -Term (Memorandum
Assets Debt Only)
$1,217,767
30,478
67,547
105,924
25,946
224,348
8.496
4,237
$233.170 233,170
325.000 325,000
997,443
350,515
3 64, 720
80,750
$4.,930,.201 10,097,122
(2,299,089)
$4930,201 $558,170 $11.834,374
$92,99I
80.750
21.450
$233;170 233,170
325,000 325,000
100.000
63.838
1.970.000
$0 558,170 2,887,199
4,930,201 4.930,201
1,547.747
942.038
(451,524)
364.720
712.409
901,584
4,930,201 0 8,947,175
$4,930,201 $558,170 $11,834,374
The accompanying notes are an integral part of these statements.
6
CITY OF CIIUBBUCK
COMBINED STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
REVENUE:
Taxes
Licenses and permits
Law enforcement
Court revenue
Interest
Donations
Miscellaneous
Fire protection service
Program income
Total revenue
YEAR ENDED SEPTEMBER 30, 1997
Governmental Fund Types
EXPENDITURES:
Special
Capital
Totals
General
Revenue
Project
(Memorandum
Fund
Funds
Funds
Only)
$2,177,357
$304,993
191,385
$2,482,350
132,436
475,616
Health and welfare
132,436
99,152
Capital outlay
170,157
99,152
53,168
54,945
54,945
53,168
13,930
10,301
$10,553
34,784
EXCESS REVENUE OR (EXPENDITURES)
(295,651) 329,101
41,820
41,820
28,113
15,112
43,225
79,973
79,973
52,803
52,803
2,636,932
330,406
52,373
3,019,711
EXPENDITURES:
General government
529,311 11305
530,616
Law enforcement
1,265,000
1,265,000
Fire control
238,585
238,585
Parks and recreation
191,385
191,385
Streets
475,616
475,616
Health and welfare
7,584
7,584
Capital outlay
170,157
170,157
Debt service
54,945
54,945
Total expenditures
2,932,583 1,305
0 2,933,888
EXCESS REVENUE OR (EXPENDITURES)
(295,651) 329,101
52,373 85,823
OTHER FINANCING SOURCES (USES):
Transfers from other funds
Transfers to other funds
EXCESS (SOURCES/USES)
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
216,850
(216,850)
(78,801) 112,251 52,373
354,143 288,911 172,707
216,850
(216,850)
85,823
815,761
$275,342 $401,162 $225,080 $901,584
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, 1997
Water, Sewer
and Garbage
Enterprise
OPERATING REVENUE: Fund
Service charges $1,868,857
OPERATING EXPENSES:
Personnel 395,351
Personnel benefits 134,820
Supplies 395,184
Utilities 87,740
Other purchased services 783,342
Depreciation 125,121
Total operating expenses 1,921,558
OPERATING INCOME (52,701)
NONOPERATING REVENUE (EXPENSES):
Interest income 110,955
Interest expense (123,237)
Total nonoperating revenue (expenses) (12,282)
NET LOSS (64,983)
FIXED ASSETS ADJUSTMENT (SHOP) 118,510
RETAINED EARNINGS, RESERVES:
Balance - Beginning 2,571,349
RETAINED EARNINGS, RESERVES:
Balance - Ending $2,624,875
The accompanying notes are an integral part of these statements.
F-1
CITY OF CHUBBUCK
STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1997
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation
Decrease in accounts receivable
Decrease 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:
Bond principal payments
NET (DECREASE) IN CASH
CASH AT SEPTEMBER 30, 1996
CASH AT SEPTEMBER 30, 1997
The accompanying notes are an integral part of these statements.
9
v ater, Sewer
and Garbage
Enterprise
Fund
($64,983)
125,121
21,198
(11,577)
134,742
69,759
(636,952)
(95,000)
(662,193)
2,972,977
$2,310,784
CITY OF CHUBBUCK
STATEMENT OF REVENUE AND EXPENDITURES
BUDGET AND ACTUAL
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 1997
REVENUE:
Budget
Actual
Variance
Property taxes
$1,295,345
$1,313,018
$17,673
Sales tax
251,000
249,609
(1,391)
Inventory phaseout
60,000
87,526
27,526
Highway users tax
315,000
346,401
31,401
Highway - other
42,000
48,001
5,033
Liquor tax
35;000
49,396
14,396
Road and bridge tax
37,000
33,966
(3,034)
Franchise taxes
71,000
45,612
(25,388)
Interest on delinquent taxes
10,000
37828
(6,172)
Subtotal
2,116,345
2,177,357
61,012
Law enforcement
113,157
99,152
(14,005)
Court revenue
60,000
53,168
(6,832)
Licenses, permits, and fees
95,500
132,436
36,936
Interest
15,000
13,930
(1,070)
Miscellaneous
26,000
28,113
2,113
Fire Protection Service
80,250
79,973
(277)
Program income
55,900
521803
(3,097)
Total revenue
2,562,152
2,636,932
74.780
EXPENDITURES
General Government
586,920
529,311
57,609
Lav enforcement
1,285,806
1,265,000
20,806
Fire control
265;442
238,585
26,857
Parks and recreation
201,216
191,385
9,831
Streets
431,138
475,616
(44,478)
Health and welfare
12,617
7,584
5,033
Capital outlay
246,468
170,157
76,311
Debt service
52,395
54,945
(2,550)
Total expenditures
3,082,002
2,932,583
149,419
EXCESS REVENUE OR (EXPENDITURES)
TRANSFERS FROM OTHER FUNDS
EXCESS SOURCES (USES)
The accompanying notes are an integral part of these statements.
10
(519,850) (295,651) 224,199
361,850 216,850 (145,000)
($158,000) ($78,801) $79,199
CITY OF CHUBBUCK
STATEMENT OF REVENUE AND EXPENDITURES
BUDGET AND ACTUAL
SPECIAL REVENUE FUNDS
YEAR ENDED SEPTEMBER 30, 1997
REVENUE:
Local revenue
EXPENDITURES:
General government
EXCESS REVENUES:
OTHER FINANCING SOURCES (USES):
Transfers to other funds
FUND BALANCE - beginning
FUND BALANCE - ending
The accompanying notes are an integral part of these statements.
�1
Budget Actual Variance
$300,000 $330,406 $30,406
$10,000 1,305 $8,695
329,101
($345,000) (216,850) $128,150
288,911
$401,162
CITY OF CII[ JBBUCK
STATEMENT OF REVENUE AND EXPENDITURES
BUDGET AND ACTUAL
CAPITAL PROJECT FUNDS
YEAR ENDED SEPTEMBER 30, 1997
REVENUE:
Local revenue
EXPENDITURES:
General government
EXCESS REVENUE
FUND BALANCE - beginning
FUND BALANCE - ending
The accompanying notes are an integral part of these statements.
12
Budget
$50,000
Actual Variance
$52,373 $2,373
0 0
52,373
172,707
$225,080
I
CITY OF CHUBBUCK
STATEMENT OF CHANGES IN FIXED ASSETS
PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1997
ENTERPRISE FUND FIXED ASSETS:
Balance at cost - September 30, 1996
Additions
Deletions
Balance at cost - September 30, 1997
Construction in progress
Storage
and
Distribution
Equipment System Buildings Totals
$398,688 $3,418,851 $155,571 $3,973,110
0 545,479 545,479
0 0 0 0
$398,688 $3,418,851 $155,571 4,518,589
648,332
$5,166,921
The accompanying notes are an integral part of these statements.
13
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1997
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.
14
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1997
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 groap 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.
15
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1997
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.
16
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3
4
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1997
CITANGES IN GENERAL FIXED ASSETS
Reclassifications
Balance and
9-30-96 Additions Deletions
Description:
Land and buildings $1,787,637
Fixtures and equipment 2 765 093 $377,471
Totals $4.552.730 $377,471 _ 0
Balance
9-30-97
$1,787,637
3.142.564
$4.930.201
Note: Enterprise fund properties are reported separately and are not included in the above
balance at September 30, 1997.
GENERAL LONG-TERM DEBT (FIRE STATION BONDS)
Issue of August 1, 1990:
Due
Annual
Date
Principal
Rate
Interest
Total
08/01/98
$30,000
6.600%
$22,395
$52,395
08/01/99
35,000
6.700%
20,415
55,415
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
325 000
JUQ 150
$435,150
Bonds retired in 1997
30 000
NOTE RECEIVABLE ($4,236.85 Balance):
On March 9, 1989, the City of Chubbuck sold property for $90,000.00. The City received
$75,000.00 down and the balance will be paid over 10 years with annual payments of
$2,441.25 including interest at 10%.
17
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1997
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 39, 1997, the required contributions rates, as determined by
PERSI, are as follows:
Employee Employer
General Member 6.97% 11.61%
Police/Firefighter Member 8.53% 11.85%
The City of Chubbuck's contributions required and paid were $292,771, $263,060, and
$233,754 for the three years ended September 30, 1997, 1996, and 1995 respectively.
18
41
7
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1997
SUMMARY OF PROPERTY TAX ROLL OPERATION BY YEAR
1994
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
and Prior
1995
1996
Totals
Taxes receivable -
Enterprise
2.310,784
$3.011.195
September 30, 1996
$3,738
$12,842
$0
$16,580
1996 Gross Levy
State pool
1,305,298
1,326,249
1,326,249
Less:
77,958
First Security - Sweep
472,001
First Security
Cancellations and adjustments
3,669
3
(1,680)
1,992
Cash received in 1996 - 1997
(4,536)
(7,323)
(1.302,484)
(1.314,343)
Taxes receivable -
September 30, 1997
$2,871
5 522
$22,085
$30478
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
$74,169
Special revenue
401,162
Capital projects
225,080
Enterprise
2.310,784
$3.011.195
CASH AND INVESTMENTS--
NVESTMENTS:Petty
Pettycash
$170
Key bank - MM
98,325
State pool
1,305,298
First Security - Trust
997,443
Idaho Central Credit Union
77,958
First Security - Sweep
472,001
First Security
60.000
Total cash and investments
$3.011.195
19
8
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEM43ER 30, 1997
CAPITAL LEASE (446B BACKHOE):
Interest
Payment 5.75% Balance
Balance $16,057.83
10-15-97 $8,727.37 $923.33 8,253.79
10-15-98 8,727.37 473.58 .00
CAPITAL LEASE (FIRE TRUCKS):
CAPITAL LEASE ( GRADER):
Interest
Interest
Payment
6.5%
Balance
Balance
Balance
$70,719.20
2-21-98 $25,000.00
$4,691.18
50,410.38
2-21-99 26,000.00
3,34399
27,754.37
2-21-2000 29, 595.46
1,841-09
.00
CAPITAL LEASE ( GRADER):
CAPITAL LEASE (EXPLORER):
Payment Interest Balance
Balance $13,716.69
4-4-98 $7,539.31 $898.44 7,075.82
4-4-99 7,539.29 463.47
20
Interest
Payment5.48%
�
Balance
Balance
$132,676.64
7-1-98
$16,533.64
$7,270.68
123,413.68
7-1-99
16,533.64
6,763.07
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
CAPITAL LEASE (EXPLORER):
Payment Interest Balance
Balance $13,716.69
4-4-98 $7,539.31 $898.44 7,075.82
4-4-99 7,539.29 463.47
20
E
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1997
SUMMARY OF MATURITIES AND INTEREST ON SEWER REVENUE BONDS BY
YEAR
Interest
Interest
Principal
Due
Due
Due
Total
Year
April 1
October 1
October 1
Due
1997
$20,400
$25,000
$45,400
1998
$19,650.
19,650
30,000
69,300
1999
18,750
18,750
30,000
67,500
2000
17,850
17,850
30,000
65,700
2001
16,950
16,950
35,000
68,900
2002
15,900
15,900
35,000
66,800
2003
14,850
14,850
40,000
69,700
2004
13,650
13,650
40,000
67,300
2005
12,450
12,450
40,000
64,900
2006
11,250
11,250
45,000
67,500
2007
9,900
9,900
45,000
64,800
2008
8,550
8,550
50,000
67,100
2009
7,050
7,050
55,000
69,100
2010
5,400
5,400
55,000
65,800
2011
3,750
3,750
60,000
67,500
7012
1.950
1950
65,000
68.900
Totals17$ 7.900$198,3000_0068o
$1.056.200
Bonds retired in 1997
25 000
r
21
C.
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1997
10, SUMMARY OF WATER FUND CERTIFICATES OF PARTICIPATION ISSUED IN
MAY 1995
Payment
Date
_ Principal
Interest
Total
10/01/97
$43,437.50
$43,437.50
04/01/98
$75,000.00
43,437.50
118,437.50
10/01/98
41,093.75
41,093.75
04/01/99
75,000.00
41,093.75
116,093.75
10/01/99
38,750.00
38,750.00
04/01/00
80,000.00
38,750.00
118,750.00
10/01/00
36,250.00
36,250.00
04/01/01
85,000.00
36,250.00
121,250.00
10/01/01
33,593.75
33,593.75
04/01/02
90,000.00
33,593.75
123,593.75
10/01/02
30,781.25
30,781.25
04/01/03
100,000.00
30,781.25
130,781.25
10/01/03
27,656.25
27,656.25
04/01/04
105,000.00
27,656.25
132,656.25
10/01/04
24,375.00
24,375.00
04/01/05
110,000.00
24,375.00
134,375.00
10/01/05
20,937.50
20,937.50
04/01/06
120,000.00
20,937.50
140,937.50
10/01/06
17,187.50
17,187.50
04/01/07
125,000.00
17,187.50
142,187.50
10/01/07
13,281.25
13,281.25
04/01/08
135,000.00
13,281.25
148,281.25
10/01/08
9,062.50
9,062.50
04/01/09
140,000.00
9,062.50
149,062.50
10/01/09
4,687.50
4,687.50
04/01/10
150,000.00
4 687.50
154 687.50
L390 000.00 $682.187.50 $2,072.187.50
Certificates paid in 1997 $70.000.00
22
CITY OF CHUBBUCK
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
YEAR ENDED SEPTEMBER 3 0, 1997
GENEI( L GOVERNMENT:
Salaries
Personnel benefits
Supplies
Purchased services
Insurance
Utilities
Building maintenance
Urban renewal
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
NFORCEMENT:Salaries
Personnel benefits
Supplies
Purchased services
Lease payments
Capital outlay
The accompanying notes are an integral part of these statements.
23
Budget Actual Variance
$28,290
$4,200
$24,090
7,455
13,183
(5,728)
2,000
0
2,000
31,258
27,855
3,403
29,091
44,088
(14,997)
6,200
4,424
1,776
20,225
40,465
(20,240)
345,000
279,222
65,778
469,519
413,437
56,082
78,190
72,473
5,717
26,411
23,662
2,749
3,400
10,684
(7,284)
108,001
106,819
1,182
5,000
7,340
(2,340)
4,400
1,715
2,685
9,400
9,055
345
150,702
191,298
(40,596)
48,186
55,769
(7,583)
166,550
153,614
12,936
65,700
74,935
(9,235)
97,570
29,129
68,441
528,708
504,745
23,963
$723,020
$715,681
$7,339
255,287
268,191
(12,904)
78,967
60,349
18,618
178,121
171,582
6,539
50,411
49,197
1,214
71,298
72,725
(1,427)
1,357,104
1,337,725
19,379
CITY OF CHUBBUCK
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 1997
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
Total general fund
The accompanying notes are an integral part of these statements.
24
Budget Actual Variance
13 0, 000
113,846
16,154
37,439
33,057
4,382
33,050
35,849
(2,799)
39,200
30,833
8,367
25,753
25,000
753
39,800
38,455
1,345
52,395
54,945
(2,550)
357,637
331,985
25,652
98,520
86,959
11,561
27,269
33,449
(6,180)
51,277
48,869
2,408
24,150
22,108
2,042
37,800
29,848
7,952
239,016
221,233
17,783
12,617 7,584 5,033
$3,082,002 $2,932,583 $149,419
ASSETS:
Cash
Total assets
LIABILITIES:
Total liabilities
CITY OF CHUBBUCK
COMBINING BALANCE SHEET
SPECIAL REVENUE FUNDS
SEPTEMBER 30, 1997
Street
Juvenile
Health
Police
Guarantee
LID #1
Referral
Development
Insurance
Training
Fund
Fund
Fund
Fund
Fund
Fund Total
$5,026
$23,387
$2,168
$320,326
$107
$50,148 $401,162
$5,026
$23,387
$2,168
$320 326
$107
$50,148 $401,162
$0 $0 $0
FUND EQUITY:
Fund balance 5,026 23,387 2,168 320,326 107 50,148 401,162
Total fund equity 5,026 23,387 2,168 320,326 107 50,148 401,162
Total liabilities and fund equity $5,026 $23,387 $2,168 $320,326 $107 $50,148_ $401,162
The accompanying notes are an integral part of these statements.
25
CITY OF CHUBBUCK
COMBINING STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE
SPECIAL REVENUE FUNDS
YEAR ENDED SEPTEMBER 30, 1997
REVENUE:
Judgments
Taxes and other
Interest
Total revenue
EXPENDITURES:
General government
Total expenditures
Street
Guarantee LID 91
Fund Fund
55,000
26 51,529
5,026 1,529
0 0
Juvenile
5,026 1,529 204
Health
Police
17,993
Referral
Development
Insurance
Training
1,000
Fund
Fund
Fund
Fund
Total
294
49,005
288,911
515,112
515,112
$320,326
$299,993
$50,148
$401,162
304,993
5204
5,543
S13
2,986
10,301
204
305,536
13
18,098
330,406
1,200
105
1,305
0
0
1,200
105
1,305
EXCESS REVENUE OR (EXPENDITURES)
5,026 1,529 204
305,536
(1,187)
17,993
329,101
TRANSFERS (TO) FROM OTHER FUNDS
(11000)
(200,000)
1,000
(16,850)
(216,850)
FUND BALANCE - BEGINNING
0 22,858 1,964
214,790
294
49,005
288,911
FUND BALANCE -ENDING
$5,026 $23,387 $2,168
$320,326
$107
$50,148
$401,162
The accompanying nates are an integral part of these statements.
26
CITY OF CHUBBUCK
COMBINING BALANCE SHEET
CAPITAL PROJECT FUNDS
SEPTEMBER 30, 1997
ASSETS.-
Cash
SSETS:Cash
Total assets
LIABILITIES:
Total liabilities
FUND EQUITY:
Fund balance
Total fund equity
Total Iiabilities and fiend equity
Road
55,085
147,435
Capital
Parks
Parks
Project
42
#1
Funds
Fund
Fund Total
$22,560
$55,085
$147,435 $225,080
$147,435
$225,080
$22,560
$55,085
$147,435 $225,080
$0 $0 $0 $0
22,560
55,085
147,435
225,080
22,560
55,085
147,435
225,080
$22,560
$55,085
$147,435
$225,080
The accompanying notes are an integral part of these statements.
27
CITY OF CHUBBUCK
COMBR,aNG STATEMENT OF REVENUE AND EXPENDITURES
CAPITAL PROJECT FUNDS
YEAR ENDED SEPTEMBER 3 0, 1997
REVENUE:
Interest
Donations
Total revenue
EXPENDITURES
Miscellaneous
Total expenditures
EXCESS REVENUE OR (EXPENDITURES)
OTHER FINANCING SOURCES (USES):
EXCESS (SOURCESIUSES)
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Road
Capital
Project
Funds
Parks
#2
Fund
Parks
#1
Fund
Total
$1,375
$3,059
$6,119
$10,553
320
41,500
41,820
1,375
3,379
47,619
52,373
0
0
0
0
1,375
3,379
47,619
52,373
1,375
3,379
47,619
52,373
21,185
51,706
99,816
172,707
$22,560
$55,085
$147,435
$225,080
The accompanying notes are an integral part of these statements.
28
CITY OF CHUBBUCK
COMBINING BALANCE SHEET
ENTERPRISE FUNDS
SEPTEMBER 30, 1997
LIABILITIES
Accounts payable
$72,986
$72,986
Sewer
80,750
80,750
Payable from Restricted Assets:
364,720
193,288
Repairs
100,000
100,000
Accrued bond interest payable
63,838
Depreciation
and
Sewer
1,970,000
Total liabilities
Utilities
Reserve
Replacement
Legal
Fund
Fund
Fund
Fund
Total
ASSETS:
Cash
$155,462
$361,894
$517,356
Accounts receivable
224,348
224,348
Restricted Cash:
Replacement funds
$193,288
$157,227
350,515
Bond and interest reserves
364,720
364,720
Utility deposits
80,750
80,750
Construction funds
997,443
997,443
Fixed assets
5,166,921
5,166,921
Accumulated depreciation
(2,299,089)
(2,299,089)
Total assets
$4,690,555$193.288
$157,227
$361,894
$5,402,964_
LIABILITIES
Accounts payable
$72,986
$72,986
Deposits payable
80,750
80,750
Payable from Restricted Assets:
364,720
193,288
Bonds payable - current
100,000
100,000
Accrued bond interest payable
63,838
63,838
Bonds payable - long term
1,970,000
1,970,000
Total liabilities
2,287,574 $0
$0 $0 2,287,574
FUND EQUITY:
Retained earnings
Contributed capital
Accumulated depreciation
Reserve for debt service
Other reserves
Total fund equity
Total liabilities and fund equity
1,547,747
1,547,747
942,038
942,038
(451,524)
(451,524)
364,720
364,720
193,288
157,227 361,894 712,409
2,402,981 193,288
157,227 361,894 3,115,390
$4690 555 $193,288
$157,227 $361,894_ $5,402,964
1lie accompanying notes are an integral Part of these statements.
29 k
CITY OF CHUBBUCK
COMBINING STATEMENT OF REVENUE, EXPENSES, AND
CHANGES IN RETAINED EARNINGS AND RESERVES
ENTERPRISE FUNDS
YEAR ENDED SEPTEMBER 30, 1997
OPERATING REVENUE:
Service Charges:
Sanitation
Water
Sewer
Internal service charges
Total operating revenue
OPERATING EXPENSES:
Personnel
Personnel benefits
Supplies
Utilities
Other purchased services
Depreciation
Total operating expenses
OPERATING INCOME
NONOPERATING REVENUE (EXPENSES):
Interest income
Interest expense
Total nonoperating revenue (expenses)
1►1��I MOM -0J
OTHER FINANCING SOURCES (USES):
Transfer (to) from other funds
Fixed assets adjustment (shop)
RETAINED EARNINGS - RESERVES:
Balance - Beginning
RETAINED EARNINGS - RESERVES:
Balance - Ending
Sewer
Repairs
Depreciation and Sewer
;11;lities Reserve Replacement Legal
Fund Fund Fund Fund
$567,785
787,692
490,299
23,081
1,868,857 $0 $0
395,351
134,820
395,184
87,740
783,342
125,121
Total
$567,785
787,692
490,299
_ 23,081
$0 1,868,857
395,351
134,820
395,184
87,740
783,342
125,121
1,921,558
0
0
0
1,921,558
(52,701)
0
0
0
(52,701)
66,072
15,422
8,739
20,722
110,955
(123,237)
(123,237)
(57,165)
15,422
8,739
20,722
(12,282)
(109,866)
15,422
8,739
20,722
(64,983)
230,000 (230,000)
118,510
0
118,510
1,673,823 407,866 148,488 341172 2,571,349
$1,912,467 $193,288 $157,227 $361,894 $2,624,876
The accompanying notes are an integral part of these statements.
30
Year of Levy 1)
CITY OF CHUBBUCK
TEN YEAR SUMMARY OF TAX LEVIES
SEPTEMBER 30, 1997
Value
Tax
Levy (Actual
1987
$125,907,871
.005013
$633,689
1988
125,858,250
.005089
640,493
1989
125,917,949
.005295
688,999
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
I) Levies are certified in October of the year shown. Taxes are primarily received in
January and July of the subsequent year.
The accompanying notes are an integral part of these statements.
31