HomeMy WebLinkAbout1995CITY OF CHUBBUCK, IDAHO
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GENERAL PURPOSE FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
SEPTEMBER 30, 1995
jko )ones, Yost, Hatt
Erickson & Co.
CERTFFIEO PUBLIC ACCOUNTANTS
POCATELLO, IDAHO
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CITY OF CHUBBUCK, IDAHO
GENERAL PURPOSE FINANCIAL STATEMENTS
AND OTHER FINANCIAL INFORMATION
SEPTEMBER 3a, 1995
I'
ko
tones, Yost, Hatt,
Erickson & Co.
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, 1995, and for the year then ended. 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
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 general purpose financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the
general purpose 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,
1995, and the results of its operations and changes in cash of its proprietary funds for the year
then ended in conformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose
financial statements taken as a whole. The combining, individual fund financial statements and
schedules listed in the table of contents are presented for purposes of additional analysis and are
not a required part of the general purpose financial statements of the City of Chubbuck. This
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 7, 1996.
3
416 SOUTH 4TH AVENUE • P.O. BOX 4987 • POCATELLO,
IDAHO 83205 • PHONE 2081233-5000 • FAX 208(233-5010
CITY OF CHUBBUCK
ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 1995
TABLE OF CONTENTS
Page
Independent Auditor's Report
Numbers3
Report on Compliance
4
Report on Internal Control Structure
5
General Purpose Financial Statements.-
tatements:Combined
CombinedBalance Sheet - All Fund Types and Account Groups
7
Combined Statement of Revenue, Expenditures, and Changes in Fund
Balance - All Governmental Fund Types
9
Combined Statement of Revenue, Expenses, and Changes in Retained Earnings -
All Proprietary Fund Types
10
Statement of Cash Flows - All Proprietary Fund Types
1 I
Statement of Revenue and Expenditures - Budget and Actual:
General Fund
12
Special Revenue Funds
13
Capital Project Funds
14
Proprietary Fund Types:
Statement of Changes in Fixed Assets
15
Notes to Financial Statements
16
OTHER STATEMENTS AND SCHEDULES
Statement of Expenditures - Budget and Actual, General Fund
29
Combining Balance Sheet - Special Revenue Funds
31
Combining Statement of Revenue, Expenditures, and Changes in Fund
Balance - Special Revenue Funds
32
Combining Balance Sheet - Capital Project Funds
33
Combining Statement of Revenue and Expenditures - Capital Project Funds
34
Combining Balance Sheet - Enterprise Funds
35
Combining Statement of Revenue, Expenses, and Changes in Retained Earnings
and Reserves - Enterprise Funds
3
Statistical Section:
Ten Year Summary of Tax Levies
39
SCOTT N. JONES, CPA
KENT L. YOST, CPA, JD
MORGAN J. HATT, CPA
STACY L. ERICKSON, CPA
Honorable Mayor and Members of the
City Council
City of Chubbuck, Idaho
Jones, Yost, Hatt,
Erickson & Co.
CERTIFIED PUBLIC ACCOUNTANTS
P.O. BOX 4987
Pocatello, Idaho 83205
MEMBERS OF
American Institute of
Certified Public Accountants
Idaho Society of
Certified Public Accountants
Compliance Report Based on an Audit of General Purpose Financial Statements Performed in
Accordance with Government Auditing Standards
We have audited the general purpose financial statements of the City of Chubbuck,
Idaho, as of and for the year ended September 30, 1995, and have issued our report thereon dated
March 7, 1996.
We conducted our audit in accordance with generally accepted auditing standards and
Government Auditing Standards_issued by the Comptroller General of the United States. Those
standards require that we plan and perform the audit to obtain reasonable assurance about
whether the general purpose financial statements are free of material misstatement.
Compliance with laws, regulations, contracts, and grants applicable to the City of Chubbuck,
Idaho, is the responsibility of City management. As part of obtaining reasonable assurance about
whether the general purpose financial statements are free of material misstatement, we conducted
tests of the City's compliance with certain provisions of laws and regulations. However, the
objective of our audit of the general purpose financial statements was not to provide an opinion
on overall compliance with such provisions. Accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance that are required to be
reported herein under Government Auditing Standards.
This report is intended for the information of the City of Chubbuck, and its audit cognizant
agency. However, this report is a matter of public record and its distribution is not limited.
•NTE 3
I TT, EMIC s •
Pocatello, Idaho,
March 7, 1996.
416 SOUTH 4TH AVENUE • P.O. BOX 4987 • POCATELLO, IDAHO 83205 • PHONE 2081233-5000 • FAX 208/233-5010
SCOTT N. JONES, CPA
KENT L. YOST, CPA, JD
MORGAN J. HATT, CPA
STACY L. ERICKSON, CPA
Honorable Mayor and Members of the
City Council
City of Chubbuck, Idaho
Jones, Yost, Hatt,
Erickson & Co,
CERTIFIED PUBLIC ACCOUNTANTS
P.O. BOX 4987
Pocatello, Idaho 83205
MEMBERS OF
American Institute of
Certified Public Accountants
Idaho Society of
Certified Public Accountants
Report on the Internal Control Structure Based on an Audit of General Purpose Financial
Statements Performed in Accordance With Government Auditing Standards
We have audited the general purpose financial statements of the City of Chubbuck,
Idaho, as of and for the year ended September 30, 1995, and have issued our report thereon dated
March 7, 1996.
We conducted our audit in accordance with generally accepted auditing standards and
Government Auditing Standards, issued by the Comptroller General of the United States. Those
standards require that we plan and perform the audit to obtain reasonable assurance about
whether the general purpose financial statements are free of material misstatement.
The management of the City of Chubbuck, Idaho, is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments
by management are required to assess the expected benefits and related costs of internal control
structure policies and procedures. The objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition, and that transactions are executed in accordance with
management's authorization and recorded properly to permit the preparation of general purpose
financial statements in accordance with generally accepted accounting principles. Because of
inherent limitations in any internal control structure, errors or irregularities may nevertheless
occur and not be detected. Also, projection of any evaluation of the structure to future periods is
subject to the risk that procedures may become inadequate because of changes in conditions or
that the effectiveness of the design and operation of policies and procedures may deteriorate.
In planning and completing our audit of the general purpose financial statements of the
City of Chubbuck, Idaho, for the year ended September 30, 1995, we obtained an understanding
of the internal control structure. With respect to the internal control structure, we obtained an
understanding of the design of relevant policies and procedures and whether they have been
placed in operation, and we assessed control risk in order to determine our auditing procedures
for the purpose of expressing our opinion on the general purpose financial statements and not to
provide an opinion on the internal control structure. Accordingly, we do not express such an
opinion.
4166 SOUTH 4TH AVENUE • P.O. BOX 4987 • POCATELLO, IDAHO 83205 • PHONE 2081233-5000 • FAX 2081233-5010
Honorable Mayor and Members of the City Council
Page 2
Our consideration of the internal control structure would not necessarily disclose all
matters in the internal control structure that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A material weakness is a
condition in which the design or operation of one or more of the specific internal control structure
elements does not reduce to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the general purpose 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 structure and its
operations that we consider to be material weaknesses as defined above.
This report is intended for the information of the City of Chubbuck, and its Federal
agencies. However, this report is a matter of public record and its distribution is not limited.
Pocatello, Idaho,
March 7, 1996.
0
AO*OS�,HATT CK ON
CITY OF CHUBBUCK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
SEPTEMBER 30, 1995
ASSETS:
Cash
Receivables:
Property taxes (Note 1-H)
State sales tax
Highway users' tax
Inventory phase-out tax
Accounts (Note 1-B)
Court
State liquor tax
Note receivable
Amount to be provided for lease purchases
Amount to be provided for general obligation bonds
Restricted Cash:
Replacement funds
Bond reserve
Water meter deposits
Fixed assets -net (Note 1-C)
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 - net
Reserve for debt service
Reserve for replacement funds
Fund balance - undesignated
Total fund equity
Total liabilities and fund equity
The accompanying notes are an integral part of these statements.
7
23,081
63,216
78,144
22,068
263,067
4,410
8,927
7,738
530,473
331,843
70,235
2,087,193
$351,044 $236,460 $138,024 $5516
$13,967 $25,972
70,235
14,053
28,020 $0
80,000
23,100
2,170,000
$0 2,369,307
1,406,277
537,616
331,843
530,473
323,024 236,460 138,024
323,024 236,460 138,024 2,806,209
$351,044 $236,460 $138,024 $5,175,516
Proprietary
Governmental Fund Types
Fund T eye
Special
Capital
General Revenue
Project
Enterprise
Fund Funds
Funds
Funds
$143,460 $236,460
$138,024
$1,892,705
The accompanying notes are an integral part of these statements.
7
23,081
63,216
78,144
22,068
263,067
4,410
8,927
7,738
530,473
331,843
70,235
2,087,193
$351,044 $236,460 $138,024 $5516
$13,967 $25,972
70,235
14,053
28,020 $0
80,000
23,100
2,170,000
$0 2,369,307
1,406,277
537,616
331,843
530,473
323,024 236,460 138,024
323,024 236,460 138,024 2,806,209
$351,044 $236,460 $138,024 $5,175,516
Account Groups
General General
Totals
Fixed Long -Terni
Memorandum
Assets Debt
Only)
$2,410,649
23,081
63,216
78,144
22,068
263,067
4,410
8,927
7,738
$138,041 138,041
385,000 385,000
530,473
331,843
70,235
$3,437,329 5,524,522
$3,437,329 $523,041 $9,861,414
$39,939
70,235
14,053
$138,041 138,041
385,000 385,000
80,000
23,100
2,170,000
$0 523,041 2,920,368
3,43 7,329 3,43 7,3 29
1,406,277
537,616
331,843
530,473
697,508
3,437,329 0 6,941,046
$3,437,329 $523,041 $9,861,414
The accompanying notes are an integral part of these statements.
8
CITYOF CHUBBUCK
COMBINED STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED SEPTEMBER 30, 1995
Governmental Fund
OTHER FINANCING SOURCES (USES):
Transfers from other funds
Transfers to other funds
EXCESS (SOURCES/USES)
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
837 1,000 (837) 1,000
(1,000) (1,000
(101,357) 175,070 19,988 93,701
424,381 61,390 118,036 603,807
$323,024 $236,460 $138,024 $697,509
The accompanying notes are an integral part of these statements.
9
Special
Capital
Totals
General
Revenue
Project
(Memorandum
REVENUE:
Fund
Funds
Funds
Only
Taxes (Page 12)
$1,964,387
$163,244
$2,127,631
Licenses and permits
83,664
83,664
Court revenue
43,987
17,875
9,820
$6,877
43,987
34,572
Interest
13,955
13,955
Donations
Miscellaneous
39,525
2,304
41,829
Fire protection service
72,473
72,473
42,223
Program income
42,223
2,460,334
2,264,134
175,368
20,832
Total revenue
EXPENDITURES:
232,955
1,298
7
234,264
General government
999,456
999,456
Law enforcement
261,164
261,164
Fire control
Parks and recreation
147,366
147,366
Highways and streets
474,865
4,865
Health and welfare
12,769
12,769
12
Capital outlay
182,950
182,950
Debt service
53,803
53,803
2,365,328
1,298
7
2,366,633
Total expenditures
EXCESS REVENUE OR (EXPENDITURES)
(101,194)
174,070
20,825
93,701
OTHER FINANCING SOURCES (USES):
Transfers from other funds
Transfers to other funds
EXCESS (SOURCES/USES)
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
837 1,000 (837) 1,000
(1,000) (1,000
(101,357) 175,070 19,988 93,701
424,381 61,390 118,036 603,807
$323,024 $236,460 $138,024 $697,509
The accompanying notes are an integral part of these statements.
9
CITY OF CHUBBUCK
COMBINED STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1995
OPERATING REVENUE:
Service charges
OPERATING EXPENSES:
Personnel
Personnel benefits
Supplies
Purchased services
Depreciation
Total operating expenses
OPERATT NG INCOME
NONOPERATING REVENUE (EXPENSES):
Interest income
Interest expense
Total nonoperating revenue (expenses)
NET INCOME
OTHER FINANCING SOURCES (USES).-
Transfer
USES):Transfer to general Fixed assets
Sale of equipment
TRANSFERS (TO) FROM OTHER FUNDS
RETAINED EARNINGS, RESERVES:
Balance - Beginning
RETAINED EARNINGS, RESERVES:
Balance - Ending
Water, Sewer
and Garbage Internal
Enterprise Service
Fund Fund Totals
$1,981,178 $1,981,178
1,981,178 1,981,178
409,306
409,306
155,771
155,771
82,395
82,395
861,489
861,489
117,615
117,615
1,626,576
1,626,576
354,602 354,602
84,217
84,217
(47,385)
(47,385)
36,832
36,832
391,434 391,434
(178,325) (178,325)
38,000 38,000
72,983 ($72,983) 0
1,944,502 72,983 2,017,485
$2,268,594 $0 $2,268,594
The accompanying notes are an integral part of these statements.
10
CITY OF CHUBBUCK
STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1995
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation
Increase in accounts receivable
Increase in accounts payable
Increase in deposits payable
Increase in accrued interest
Total adjustments
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets
Sale of equipment
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash transfer
Bond principal payments
Bond proceeds
NET INCREASE (DECREASE) IN CASH
CASH AT SEPTEMBER 30, 1994
CASH AT SEPTEMBER 30, 1995
The accompanying notes are an integral part of these statements.
11
Water, Sewer
and Garbage Internal
Enterprise Service
Fund Fund
$391,434
117,615
(52,521)
497
4,485
600
70,676
462,110
(578,221)
38,000
10,086
(40,000)
1,500,000
1,391,975
$0
(10,086)
(10,086)
1,433,281 10,086
$2,825 256 $0
e
CITY OF CHUBBUCK
STATEMENT OF REVENUE AND EXPENDITURES
BUDGET AND ACTUAL
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 1995
REVENUE:
Property taxes
Budget
Actual
Variance
Sales tax
$1,204,989
$1,232,275
$27,286
Inventory phaseout
231,000
228,219
(2,781)
Highway users tax
44,000
76,372
32,372
Liquor tax
285,000
294,487
9,487
Road and bridge tax
22,070
35,000
50,359
34,496
28,289
Franchise taxes
47,000
42,442
(504)
(4,558)10,000
Interest on delinquent taxes
5,737
(4,263)
Subtotal
1,879,059
1,964,387
85,328
Court revenue
Licenses and permits
60,000
43,987
(16,013)
Interest
100,150
83,664
(16,486)
Miscellaneous
15,000
121,950
17,875
39,525
2,875
(82,425)
Fire Protection Service
71,600
72,473
873
Program income
49,000
42,223
(6,777)
Total revenue
2,296,759
2,264,134
(32,625)
EXPENDITURES:
General Government
Law enforcement
211,933
232,955
(21,022)
Fire control
987,685
999,456
(11,771)
Parks and recreation
274,192
152,064
261,164
147,366
13,028
Highways and streets
531,346
474,865
4,698
56,481
Health and welfare
Capital outlay
11,517
12,769
(1,252)
Debt service
196,757
182,950
13,807
56,265
53,803
2,462
Total expenditures
2,421,759
2,365,328
56,431
EXCESS REVENUE OR (EXPENDITURES)
(125,000)
(101,194)
23,806
TRANSFERS FROM OTHER FUNDS
837
837
TRANSFERS TO OTHER FUNDS
(1,000)
(1,000)
EXCESS SOURCES (USES)
($125,000)
, ($101,357)
$23 643
The accompanying notes are an integral part of these statements.
12
CITY OF CHUBBUCK
STATEMENT OF REVENUE AND EXPENDITURES
BUDGET AND ACTUAL
SPECIAL REVENUE FUNDS
YEAR ENDED SEPTEMBER 30, 1995
Budget Actual Variance
REVENUE:
Local revenue $163,000 $175,368 $12,368
EXPENDITURES:
General government $25,200 1,298 $23,902
EXCESS REVENUES: $174,070
The accompanying notes are an integral part of these statements.
CITY OF CIIUBBUCK
STATEMENT OF REVENUE AND EXPENDITURES
BUDGET AND ACTUAL
CAPITAL PROJECT FUNDS
YEAR ENDED SEPTEMBER 30, 1995
Budget
.REVENUE:
Local revenue $10,000
EXPENDITURES:
General government 1,000
EXCESS REVENUE
TRANSFERS OUT
EXCESS SOURCES
The accompanying notes are an integral part of these statements.
14
Actual Variance
$20,832 $10,832
7
20,825
(1,000) (537)
$19,988
993
163
CITY OF CIIUBBUCK
STATEMENT OF CHANGES IN FIXED ASSETS
PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1995
ENTERPRISE FUND FIXED ASSETS:
Balance at cost - September 30, 1994
Additions
Deletions
Balance at cost - September 30, 1995
Less accumulated depreciation
Balance - net - September 30, 1995
Construction in progress
Storage
and
Buildings
Distribution
and
System
Equipment
Totals
$3,169,343
$615,731
$3,785,074
388,305
34,280
422,585
(138,797}
(130,499
_ (269,296)
3,418,851
519,512
3,938,363
(1,717,131)
(289,675)
(2,006,806)
$1701720
$229,837
1,931,557
155,636
$2,087,193
The accompanying notes are an integral part of these statements.
15
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1995
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.
16
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
B. FUND ACCOUNTING - CONTINUED
All proprietary funds are accounted for on a cost of services or "capital maintenance"
measurement focus. This means that all assets and liabilities (whether current or
noncurrent) associated with their activity are included on their balance sheets. Their
reported fund equity (net total assets) is segregated into contributed capital and retained
earnings components. Proprietary fund type operating statements present increases
(revenues) and decreases (expenses) in net total assets.
Due to small amounts of losses, the City does not make an allowance for doubtful
accounts in the Water and Sewer Enterprise Funds.
C. FIXED ASSETS
The accounting and reporting treatment applied to the fixed assets associated with a fund
are determined by its measurement focus. All governmental funds are accounted for on a
spending or "financial flow" measurement focus. This means that only current assets and
current liabilities are generally included on their balance sheets. Their reported fund
balance (net current assets) is considered a measure of "available spendable resources."
Governmental fund operating statements present increases (revenues and other financing
sources) and decreases (expenditures and other financing uses) in net current assets.
Accordingly, they are said to present a summary of sources and uses of "available
spendable resources" during a period.
Fixed assets used in governmental fund type operations (general fixed assets) are
accounted for in the General Fixed Assets Account Group, rather than in governmental
funds. No depreciation has been provided on general fixed assets. Infrastructure is not
included in fixed assets.
All fixed assets are valued at historical cost or estimated historical cost if actual historical
cost is not available. Donated fixed assets are valued at their estimated fair value on the
date donated.
An account group is not a "fund." It is concerned only with the measurement of financial
position. It is not involved with measurement of results of operations.
D. BASIS OF ACCOUNTING
Basis of accounting refers to when revenues and expenditures or expenses are recognized
in the accounts and reported in the financial statements. Basis of accounting relates to the
timing of the measurements made, regardless of the measurement focus applied.
17
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
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.
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.
Due to the very high ratio of property taxes collected to taxes levied, the City does
not make an allowance for uncollectible property taxes.
18
7
3
E
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
CHANGES IN GENERAL FIXED ASSETS
Note: Enterprise fund properties are reported separately and are not included in the above
balance at September 30, 1995.
GENERAL LONG-TERM DEBT (FIRE STATION BONDS)
Issue of August 1, 1990:
Due
Reclassifications
Balance
&
&
Balance
Total _
9-30-94
Additions
Deletions
9-30-95
Description:
Land and buildings
$534,051
$1,117,949
6.500%
$1,652,000
Construction in progress
542,387
30,000.00
$542,387
0
Machinery and equipment 1,428,189
357,140
35,000.00
1,785,329
Improvements other
55,415.00
08/01/00
35,000.00
6.800%
than buildings
291 ,108
08/01/01
29
0
Totals
$2,795, 95 735
1 4$ ¢ 75--099
$833,49
6.950%
Note: Enterprise fund properties are reported separately and are not included in the above
balance at September 30, 1995.
GENERAL LONG-TERM DEBT (FIRE STATION BONDS)
Issue of August 1, 1990:
Due
Annual
Date
Principal
Rate
Interest
Total _
08/01/96
$30,000.00
6.400%
$26,265.00
$56,265.00
08/01/97
30,000.00
6.500%
24,345.00
54,345.00
08/01/98
30,000.00
6.600%
22,395.00
52,395.00
08/01/99
35,000.00
6.700%
20,415.00
55,415.00
08/01/00
35,000.00
6.800%
18,070.00
53,070.00
08/01/01
40,000.00
6.900%
15,690.00
55,690.00
08/01/02
40,000.00
6.950%
12,930.00
52,930.00
08/01/03
45,000.00
7.000%
10,150.00
55,150.00
08/01/04
50,000.00
7.000%
7,000.00
57,000.00
08/01/05
50.000.00
7.000%
_ 3500-00
53,55000.00
$385.000.00
$160,760.00
$545,760.00
Bonds retired in 1995
$25,00 00
NOTE RECEIVABLE ($7,738.00 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%.
19
5
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
RETIREMENT PLAN
Pension Plan - Substantially all full-time employees and certain part-time employees of the
City of Chubbuck, are members of the Public Employee Retirement System of Idaho (the
System), a cost-sharing, multiple -employer plan established by the Legislature of the State
of Idaho_ The City's total payroll for all employees for 1995 was $1,362,953 of which
$1,046,369 was covered payroll for employee members in the System. The System is
a defined benefit plan requiring both member and employer contributions.
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.
The eligibility and amount of allowance differs for early retirement, service retirement,
vested retirement and disability retirement.
The System's funding policy provides for periodic employer contributions at actuarially
determined rates, expressed as percentages of annual covered payroll, to accumulate
sufficient assets to pay benefits when due. The employer and employee contribution rates
as percentage of salary are as follows:
Employee Group
General
Police
Fire (hired after October 1, 1980)
Fire (hired before October 1, I980)
Certain employees of Higher Education
Contribution Rates
at
June 3 Q 1995
Employer Employee
11.61% 6.97%
11.85% 8.53%
27.25% 8.53%
35.90% 11.45%
3.03%
Total contributions to the System for 1995 amounted to $141,462 by the City and
$92,292 by members.
The pension benefit obligation is a standardized disclosure measure of the present value
of pension benefits, adjusted for the effects of projected salary increases and any, step -rate
benefits, estimated to be payable in the future as a result of employee service to date.
The measure is the actuarial present value of credited projected benefits and is intended
to help users assess the System's funding status on a going -concern basis, assess progress
made in accumulating sufficient assets to pay benefits when due, and make comparisons
among public employee retirement systems. The System's pension benefit obligation was
determined as part of an actuarial valuation at June 30, 1995. As of that date, the
System's unfunded pension benefit obligation was as follows (in millions):
Total pension benefit obligation $3,934.8
Net assets available for benefits, at cost 2,728 4
Unfunded pension benefit obligation 51,106.4
20
CITY OF CIIUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTTNUED
SEPTEMBER 30, 1995
ANALYSIS OF FUNDING PROGRESS
(Amounts in millions of dollars)
Fiscal
Year
1987
1988
1989
1990
1991
1992(l)
1993 (2)
1994 (3)
1995
Net Assets
Available
for
Benefits
$1,098.0
1,223.4
1,364.4
1,520.7
1,662.6
1,858.2
2,121.4
2,500.8
2,728.4
Pension
Benefit
Obligation
$1,649.3
1,791.5
1,942.0
2,116.2
2,370.4
2,665.8
3,013.9
3,455.7
3,834.8
Percentage
Funded
66.6%
68.3
70.3
71.9
70.1
69.7
70.4
72.4
71.1
Unfunded
Pension
Benefit
Obligation
$551.3
568.1
577.6
595.5
707.8
807.6
892.5
954.9
1,106.4
Annual
Covered
Payroll
$797.4
858.6
911.2
961.1
1,039.0
1,133.9
1,190.5
1,253.8
1,387.8
Employer
Contributions
as a Percentage
of Annual
Covered Payroll
9.7%
10.1
9.8
10.1
10.1
10.1
10.5
11.7
12.5
Unfunded Pension
Benefit Obligation
as a Percentage of
Covered Payroll
69.1%
662
63.4
62.0
68.1
71.2
75.0
76.2
79.7
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and
unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available
for benefits as a percentage of the pension benefit obligation provides one indication of PERSI's
funding status on a going -concern basis. Analysis of this percentage over time indicates whether
PERSI is becoming financially stronger or weaker. Trends in unfunded pension benefit obligation and
annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit
obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation
and aids analysis of PERSI's progress made in accumulating sufficient assets to pay benefits when due.
The comparability of trend information is effected by changes in actuarial assumptions, benefit
provisions and funding methods.
Comparative information prior to fiscal year 1987 has not been accumulated.
(1) Reflects plan benefit amendments which increased the projected benefit obligation by
approximately $65 million as compared to the prior year's benefit design.
(2) Reflects plan benefit amendments which increased the projected benefit obligation by
approximately $76.6 million as compared to the prior year's benefit design.
(3) Reflects plan benefit amendments which increased the projected benefit obligation by
approximately 553.6 million as compared to the prior year's benefit design.
21
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTENMER 30, 1995
Ten year historical trend data is presented as additional information in the financial statements of the
System for the year ended June 30, 1995. This additional data provides information about progress
made by the System in accumulating sufficient assets to pay benefits when due.
Revenues by Source
Fiscal
Employee
Employer
Investment
Year
Contributions
Contributions
Income
Total
1986
$43,021,584
$75,046,384
$140,957,599
$259,025,567
1987
44,427,170
77,280,764
160,191,693
281,899,627
1988
47,701,441
86,437,686
81,039,524
215,178,651
1989
50,951,811
88,859,430
104,504,241
244,315,482
1990
55,330,814
96,744,650
116,667,508
268,742,972
1991
59,618,756
105,663,837
103,799,893
269,082,486
1992
65,423,742
114,439,170
149,462,437
329,325,349
I993
73,744,397
124,814,031.
213,460,921
412,019,349
1994
84,680,811
146,159,926
314,538,322
545,379,059
1995
98,958,160
173,626,061
129,479,884
402,064,105
Expenses by TVDe
Contributions were made in accordance with actuarially -determined contribution requirements.
22
Separation/
Administrative/
Fiscal
Retirement
Death
Investment
Year
Allowance
Benefits
Ex aenses
Total
1986
$61,712,854
$12,276,820
$4,384,580
$78,374,254
1987
67,187,276
13,269,570
4,970,620
85,427,466
1988
72,586,670
11,006,658
6,532,073
90,125,401
1989
78,280,585
12,782,267
6,831,581
97,894,433
1990
84,649,572
12,871,091
7,709,603
105,230,266
1991
94,087,813
17,257,185
9,505,615
120,850,613
1992
104,124,166
11,836,425
10,451,480
126,412,071
1993
114,637,439
11,754,656
12,755,245
139,147,340
1994
127,129,834
12,385,409
13,712,865
153,228,108
1995
142,117,947
14, 786,915
15, 546,525
172,451,3 87
Contributions were made in accordance with actuarially -determined contribution requirements.
22
CITY OF CIIUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
6. SUMMARY OF PROPERTY TAX ROLL OPERATION BY YEAR
1992
and Prior 1993
1994
Totals
Taxes recievable -
September 30, 1994 $18,3$1 $29,945
$48,326
1994 Gross Levy
$1,227,433
1,227,433
Less:
Cancellations and adjustments -466 -3,196
990
-2,672
Differential adjustment -17,731
-17,731
Cash received in 1994 - 1995 -12 895 -3,388
-1.215,992
=1,232,275
Taxes receivable -
September 30, 1995 5 020 �5
$12,431
$23.081
7. CASH ON HAND, 1N 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
$143,460
Special revenue
236,460
Capital projects
138,024
Enterprise
2.825,256
3 3$ 43..x.
CASH AND INVESTMENTS:
Petty cash
$170
Checking accounts:
General - First Security
265
143,7
Water Works - Key Bank
59,711
_ -7
83,548
Investments:
Key Bank - Savings
117,304
Key bank - MM
460,6 84
State pool
917,62299
First Security Trust
1,374,337
Idaho Central Credit Union
70,331
First Security - Trust
20,077
Key Bank - MM
105,608
Key Bank - MM
101,812
Key Bank - MM
91,700
3,259.482
Total cash and investments3
3- 343 200
23
n.
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
CAPITAL LEASE (446B BACKHOE):
CAPITAL LEASE (FIRE TRUCKS):
Payment
Original Balance
$30,415.99
10-15-95
$8,727.37
10-15-96
8,727.37
10-15-97
8,727.37
10-15-98
8,727.37
CAPITAL LEASE (FIRE TRUCKS):
24
Interest
5.75%
Payment
Original Balance
$30,415.99
2-21-96
$25,000.00
2-21-97
25, 000.00
2-21-98
25,000.00
2-21-99
26,000.00
2-21-2000
29, 595.46
24
Interest
5.75%
Balance
6.5%
$30,415.99
$1,748.92
23,437.54
1,347.66
16,057.83
923.33
8,253.79
474.58
.00
Interest
6.5%
Balance
$107,625.29
$7,139.35
89,764.64
5,954.56
70,719.20
4,691.18
50,410.38
3,343.99
27,754.37
1,841.09
_00
E
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER '30,1995
SUMMARY OF MATURITIES AND INTEREST ON SEWER REVENUE BONDS BY
YEAR
25
Interest
Interest
Principal
Due
Due
Due
Total
Year
April l
October I
October I
Due
1995
$21,900
$25,000
$46,900
1996
$21,150
21,150
25,000
67,300
1997
20,400
20,400
25,000
65,800
1998
19,650
19,650
30,000
69,300
1999
18,750
18,750
30,000
67,500
2000
17,850
17,850
30,000
65,700
2001
16,950
16,950
35,000
68,900
2002
15,900
15,900
35,000
66,800
2003
14,850
14,850
40,000
69,700
2004
13,650
13,650
40,000
67,300
2005
12,450
12,450
40,000
64,900
2006
11,250
11,250
45,000
67,500
2007
9,900
9,900
45,000
64,800
2008
8,550
8,550
50,000
67,100
2009
7,050
7,050
55,000
69,100
2010
5,400
5,400
55,000
65,800
2011
3,750
3,750
60,000
67,500
2012
1.950
1,950
65,000
68,900
Totals219 450
24$ 1.350
$730,000
51,190 800
Bonds retired in 1995
20 000
25
10
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
SUMMARY OF WATER FUND CERTIFICATES OF PARTICIPATION ISSUED IN
MAY 1995
Payment
Date
Principal
Interest
Total
10/01/95
$46,875.00
$46,875.00
04/01/96
$40,000.00
46,875.00
86,875.00
10/01/96
45,625.00
45,625.00
04/01/97
70,000.00
45,625.00
115,625.00
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
10/0I/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
130,78125
10/01/03
27,656.25
27,656.25
04/0I/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
I0/01/08
9,062.50
9,052.50
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
$1.500,000.00
$867,187.50
$2,367,187.50
26
11
12
CITY OF CIIUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1995
SUMMARY OF MATURITIES AND INTEREST ON WATER REVENUE BONDS
BY YEAR
Year Numbers
1996 47-50
Bonds retired in 1995
Interest
Interest
Due
Due
March 1
September 1
600.00
$600.00
DEFERRED COMPENSATION
Principal
Due
September 1 Total Due
$20.000.00 $21,200.00
$20,000.00
The City is custodian of an employee deferred compensation plan administered by
PEBSCO. The plan was created in accordance with Internal Revenue Code Section 457.
The plan, available to all employees, allows deferral of salary to future years. Participation
in the plan is optional. The deferred compensation is not available to employees until
termination, retirement, death or unforseeable emergency. All plan assets are (until paid
or made available to the employees or other beneficiary) solely the property and rights of
the City subject to the claims of the City's general creditors. Participants' rights under the
plan are equal to the fair market value of the deferred account of each participant.
The City has no liability for losses under the plan but does have the duty of due care that
would be required of an ordinary prudent investor. The City believes that is is unlikely
that it will use the assets of the plan to satisfy the claims of general creditors in the future.
Investments are managed by the plan's trustee under several investment options made by
the participant.
At September 30, 1995, $9,458 was deposited with the plan.
27
(THIS PAGE INTENTIONALLY LEFT BLANK)
28
CITY OF CHUBBUCK
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 1995
LEGISLATIVE:
Salaries
Purchased services
EXECUTIVE:
Salaries
Purchased services
FINANCIAL:
Salaries
Supplies
LEGAL:
Purchased services
OTHER GENERAL GOVERNMENT:
Personnel benefits
Insurance
Utilities
Building maintenance
Miscellaneous
BUILDING INSPECTION:
Salaries
Personnel benefits
Supplies and other
ENGINEERING:
Salaries
Supplies and other
STREETS AND ROADS:
Salaries
Personnel benefits
Supplies
Purchased services
Capital outlay
The accompanying notes are an integral part of these statements.
29
Budget Actual Variance
$14,400 $14,400 $0
5,500 6,029 529
19,900 20,429 529
9,600 9,600 0
1,500 1,862 (362)
11,100 11,462 362
3,708
8,772
(5,064)
2,250
1,446
804
5,958
10,218
(4,260)
27,700 20,528 7,172
8,520
211829
(13,309)
42,339
53,234
(10,895)
2,500
4,581
(2,081)
22,306
25,274
(2,968)
3,350
5,790
(2,440
79,015
110,708
(31,693)
39,250
27,850
11,400
13,125
12,012
1,113
4,800
5,518
718
57,175
45,380
11,795
6,685
11,320
(4,635)
4,400
2,910
1,490
11,085
14,230
(3,145)
134,623
5
136,193
(1,570)
45,973
46,395
(422)
117,000
97,088
19,912
233,750
195,189
38,561
58,200
31,935
26,265
589,546
506,800
82,746
CITY OF CHUBBUCK
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 1995
LAW ENFORCEMENT:
Salaries
Personnel benefits
Supplies
Purchased services
Capital outlay
FIRE CONTROL:
Salaries
Personnel benefits
Supplies
Purchased services
Capital outlay
Debt service
PARKS AND RECREATION:
Salaries
Personnel benefits
Supplies and repairs
Purchased services
Capital outlay
HEALTH AND WELFARE:
Contributions
TRANSFER TO OTHER FUNDS
Total general fund
Budget Actual Variance
$564,522
$565,216
($694)
185,790
196,957
(11,167)
67,439
60,054
7,385
I69,934
177,229
(7,295)
64,257
71,414
(7,157)
1,051,942
1,070,87018,928)
147,500
125,834
21,666
43,032
40,070
2,962
49,560
63,786
(14,226)
34,100
31,474
2,626
55,800
51,358
4,442
56,265
53,803
2,462
386,257366,325
19,932
54,500
54,464
36
16,344
16,951
(607)
28,573
39,739
(11,166)
52,647
36,212
16,435
18,500
28,243(9743)
170,564
175,609
(5,045)
11,517 12,769 1,252)
1,000 (1,000)
$2,421,759 $2 366 328 $5_5,431
The accompanying notes are an integral part of these statements.
30
CITY OF CHUBBUCK
COMBINING BALANCE SHEET
SPECIAL REVENUE BUNDS
SEPTEMBER 30, 1995
FUND EQUITY:
21,812 1,705 169,484 146 43,313 236,460
Fund balance
Total fund equity 21,812 1,705 169,484 146 43,313 236,460
Total liabilities and fund equity $21,812 $1,705 $169,484 $146 $43,313 $236,460_
The accompanying notes are an integral part of these statements.
31
Juvenile
Realth
Police
LID #1
Referral
Development
Insurance
Training
Fund
Fund
Fund
Fund
Fund Total
ASSETS:
$21,812
$1,705
$169,484
$146
$43,313 $236,460
Cash
$21,812$1705
$_6984
$146
$43,313 $236,460
Total assets
LIABILITIES:
$0
$d
$0
$0
$0 $0
Total liabilities
FUND EQUITY:
21,812 1,705 169,484 146 43,313 236,460
Fund balance
Total fund equity 21,812 1,705 169,484 146 43,313 236,460
Total liabilities and fund equity $21,812 $1,705 $169,484 $146 $43,313 $236,460_
The accompanying notes are an integral part of these statements.
31
CITY OF CHUBBUCK
COMBINING STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE
SPECIAL REVENUE FUNDS
YEAR ENDED SEPTEMBER 30, 1995
REVENUE:
LID #1
Fund
Juvenile
Referral
Fund
Development
Fund
Health
Insurance
Fund
Police
Training
Fund
Total
Judgements
Taxes and other$2,304
Interest
$9,480
923
$599
37
$150,117
7,708
$28
3,048
3,124
$2,304
163,244
9,820
Total revenue
10,403
636
157,825
28
6,476
175,368
EXPENDITURES:
Genera], government
1,298
1,298
Total expenditures
0
0
0
1,298
0
1,298
EXCESS REVENUE OR (EXPENDITURES)
10,403
636
157,825
(1,270)
6,476
174,070
TRANSFERS (TO) FROM OTHER FUNDS
1,000
1,000
FUND BALANCE - BEGINNING
11,409
1,064
11,659
416
36,837
61,390
FUND BALANCE -ENDING
$21,812$1
705
$169,484
$I46
$43.313
$236,460
The accompanying notes are an integral part of these statements.
32
ASSETS:
Cash
Total assets
LIABILITIES:
Total liabilities
CITY OF CHUBBUCK
COMBINING BALANCE SHEET
CAPITAL PROJECT FUNDS
SEPTEMBER 30, 1995
Road
Capital
Parks Fire
Parks
Project
#2 Station
#1
Funds
Fund Fund
Fund Total
$20,121
$49,696 $0
$68,207 $138,024
$20,121
$49,696 $0
$;8,207 $138,024
$0 $0 $0 $0 $0
FUND EQUITY. 68,207 8,024
Fund balance 20,121 Q9,696 13
Total fund equity 20,121 49,696 68,207 138,024
Total liabilities and fund equity $121 $49,696 $0 $68,207_ $138,024_
The accompanying notes are an integral part of these statements. t
REVENUE:
Interest
Donations
Total revenue
EXPENDITURES:
Miscellaneous
CITY OF CHUBBUCK
COMBINING STATEMENT OF REVENUE AND EXPENDITURES
CAPITAL PROJECT FUNDS
YEAR ENDED SEPTEMBER 30, 1995
Road
3,803
1,328
(7)
Capital
Parks
Fire
Project
#2
Station Parks #1
(837)
Funds
Fund
Fund Fund
Total
15,701
$3,803
$1,328
$1,745
$6,877
844
52,506
118,036
13 955
3,803
1,328
$0 15,701
20,832
7 7
Total expenditures 0 0 7
0 7
EXCESS REVENUE OR (EXPENDITURES)
3,803
1,328
(7)
15,701
20,825
OTHER FINANCING SOURCES (USES):
Transfers (to) from
(837)
(837)
EXCESS (SOURCES/USES)
3,803
1,328
(844)
15,701
19,988
FUND BALANCE - BEGINNING
16,318
48,368
844
52,506
118,036
FUND BALANCE -ENDING
$20,121
$49,696
$68,207
$138,024
5
The accompanying notes are an integral part of these statements.
34
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
Reserve for replacement fund
Total fund equity
Total liabilities and fund equity
$25,972
70,235
40,000
23,100
710,000
869,307 $0 $0
1,376,304
942,038
(404,422)
331,843
389,628 140,845
2,245,763 389,628 140,845
$3 115,070 $389,628 $140 845
The accompanying notes are an integral part of these statements.
35
CITY OF CHUBBUCK
COMBINING BALANCE SHEET
ENTERPRISE FUNDS
SEPTEMBER 30, 1995
Sewer
Repairs
Depreciation
and
Utilities
Reserve
Replacement
Fund
Fund
Fund
ASSETS:
$518,368
Cash
Accounts receivable
263,067
Restricted Cash:
$389,628
$140,845
Replacement funds
Bond and interest reserves
331,843
Water meter deposits
70,235
Fixed assets
3,938,363
Accumulated depreciation
(2,006,806)
$3,115,070
$389 628
$140,845_
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
Reserve for replacement fund
Total fund equity
Total liabilities and fund equity
$25,972
70,235
40,000
23,100
710,000
869,307 $0 $0
1,376,304
942,038
(404,422)
331,843
389,628 140,845
2,245,763 389,628 140,845
$3 115,070 $389,628 $140 845
The accompanying notes are an integral part of these statements.
35
Enterprise
Construction
Fund Total
$1,374,337 $1,892,705
263,067
530,473
331,843
70,235
155,636 4,093,999
(2,006,806)
_$1,529,973 $5,175,516
$25,972
70,235
$40,000 80,000
23,100
1,460,000 2,170,000
1,500,000 2,369,307
29,973 1,406,277
942,038
(404,422)
331,843
530,473
29,973 2,806,209
$1,529,973 $5,175,516
The accompanying notes are an integral part of these statements.
Iry
CITY OF CHUBBUCK
COMBINING STATEMENT OF REVENUE, EXPENSES, AND
CHANGES IN RETAINED EARNINGS AND RESERVES
ENTERPRISE FUNDS
YEAR ENDED SEPTEMBER 30, 1995
OPERATING REVENUE:
Service Charges:
Sanitation
Water
Sewer
Internal service charges
Total operating revenue
OPERATING EXPENSES:
Personnel .
Personnel benefits
Supplies
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):
Tranfer to general fixed assets
Sale of equipment
Transfer (to) from other funds
RETAINED EARNINGS - RESERVES:
Balance - Beginning
RETAINED EARNINGS - RESERVES:
Balance - Ending
Sewer
Repairs
Depreciation and
Utilities Reserve Replacement
Fund Fund Fund
$516,774
752,843
646,558
65,003
1,981,178 $0 $0
409,306
155,771
82,395
861,489
117,615
1,626,576 0 0
354,602 0 0
25,981
47,3 85
21,404
333,198
(178,325)
38,000
152,983
21,278 6,985
21,278 6,9655
21,278 6,985
(80,000)
1362,292 448,350 133,860
$1 708,148 $389,628 $140,845
The accompanying notes are an integral part of these statements.
37
Enterprise
Construction
Fund Total
$516,774
752,843
646,558
_ 65,003
$0 1,981,178
155,771
82,395
861,489
117,615
0 1,626,576
0 '354,602
29,973 84,217
X47,385)
29,973 36,832
29,973 391,434 f
k
(178,325)
38,000
72,983
0 1,944,502
$29,973 $2,268,594
The accompanying notes are an integral part of these statements.
38
CITY OF CIAUBBUCK
TEN YEAR SUNIlv1ARY OF TAX LEVIES
SEPTEMBER 30, 1995
Year of
Levy 1)
Value
Levy
Tax
1985
$121,985,145
.004322
$528,969
1986
124,887,711
.004769
599,487
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
142,23 9,506
.008472
1,227,433
1) 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.
39
0
MWA