Loading...
HomeMy WebLinkAbout1997/qq 6 _q,7 auct 1 4- yl'je_ MOW 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 c c 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 r it, 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 tj 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