HomeMy WebLinkAbout1984LLOYD R. MONROE. C.P.A.
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CITY OF CHUBBUCK
Chubbuck, Bannock County, Idaho
AUDIT REPORT
For the Fiscal Year Ended September 30, 1984
MAYOR John 0. Cotant
CITY COUNCIL Becky Hopkins
Steven M. Engalnd
LeRoy S. Quick
Thomas S. Nield
January 1970 - 1986
January
1980
- 1988
January
1984 -
1988
January
1978 -
1986
January
1982
- 1986
CITY CLERK Ron C. Conlin 1984
TABLE OF CONTENTS
FINANCIAL STATEMENTS
PAGE
Auditor's Opinion ........................................ 1
Combined Balance Sheet - All Fund Types and Account Groups 2
Combined Statement of Revenues, Expenditures, and Changes
in Fund Balances - All Governmental Fund Types .......... 3
Statement of Revenues, Expenditures, and Changes in Fund
Balances - Budget and Actual - Accrual Basis 4
Statement of Revenues, Expenses, and Changes in Retained
Earnings/Fund Balances - Proprietary Fund Types ....:.... 5
Statement of Changes in Financial Position - Proprietary
FundTypes .............................................. 6
Notes to Financial Statements ............................ 7
SUPPORT SCHEDULES
Operation in Taxes Receivable ............................ 15
Property Tax Levies and Collections ...................... 16
Special Assessment Collections ........................... 16
General Fund Revenues by Source ........................... 17
General Fund Expenditures by Function .................... 17
Local Improvement District #1 Bond Principal and Interest
Payable by Year ......................................... 18
Water Revenue Bond Principle and Interest Payable by,Year. 18
Sewer Revenue Bond Principle and Interest Payable by Year. 19
Schedule of Insurance Coverage 20
Summary of Federal Revenue Sharing Receipts 8 Expenditures 21
Supplemental Information for Sewer Revenue Bond Ordinance 22
Supplemental Information for Sewer Revenue -Bond Ordinance 23
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January 4, 1985
Mayor and City Council
City of Chubbuck
Chubbuck, Idaho
I have examined the financial statements of various funds and
account groups of the City of Chubbuck for the fiscal year ended
September 30, 1984, and have issued my report thereon dated
January 4, 1985. My examination was made in accordance with
generally accepted auditing standards and accordingly, included
such tests of the accounting records and such other auditing
procedures as was considered necessary in the circumstances.
In connection with the examination, I also (1) performed tests of
compliance with the Revenue Sharing and Antirecession Fiscal
Assistance Acts and regulations as required by Sections II.C.3. and
III.C.3. of the Audit Guide and Standards for Revenue Sharing
and Antirecession Fiscal Assistance Fund Recipients (Guide) issued
by the Office of Revenue Sharing, U.S. Department of the Treasury,
and (2) compared the data on Bureau of Census Form RS --9 with the
audited records of the City of Chubbuck as required by Sections
II.C.4 of the "Guide".
Based on these procedures, it was noted there were no instances of non--
compliance with the regulations and no material differences between
the data on Bureau of Census Form RS -9 and the records of the City
of Chubbuck for the fiscal year ended September 30, 1984.
LLOYD R. M/)ONJR /OSE
Lloyd R. Monroe
Certified Public Accountant
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January 4, 1985
Mayor and City Council
City of Chubbuck
Chubbuck, Idaho 83202
I have examined the combined financial statements_ of the City of
Chubbuck and its combining and individual fund financial statements
as of and for the fiscal year ended September 30, 1984, as listed
in the table of contents. My examination was made in accordance with
generally accepted auditing standards and, accordingly, included such
tests of the accounting records and such other auditing procedures
as was considered necessary in the circumstances.
The City has not maintained a detail record of its general fixed assets
and, accordingly, I express no opinion on the statement of general
fixed assets which is required by generally accepted accounting
principles.
In my opinion, the financial statements listed in the aforementioned
table of contents present fairly the financial position of such funds
and the general long-term debt group of accounts of the City through
September 30, 1984, and the results of operations of such funds for
the year then ended, in conformity with generally accepted accounting
principles applied on a basis consistent with that of the preceding
year.
My examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole. The accompanying
financial information listed as supporting schedules in the table
of contents is presented for purposes of additional analysis and
is not a required part of the combined financial statements of the
City of Chubbuck. The information has been subjected to the
auditing procedures applied in the examination of the combined,
combining, and individual fund financial statements and, in my
opinion, is fairly stated in all material respects in relation
to the combined financial statements taken as a whole.
LLOYD. R. MONROE
Lloyd R. Monroe
Certified Public Accountant
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CITY OF CHUBBUCK, Bannock County, Idaho
Combined Balance Sheet - All Fund Types and Account Groups
September 30, 1984
Assets
Cash
Investments, at cost
Receivables
Taxes - collected
Taxes - uncollected
Special assessments
Accounts
Due from other governments
Prepaid expenses
Fixed assets (net accumulated depreciation)
Amount available in Debt -Service Funds
Amount to be provided for retirement of general
long --term debt
Total Assets
Liabilities and Fund..Equity
Liabilities
Coupon interest payable
Accounts payable
Deposits
Revenue bonds and interest payable
Special assessment bonds and interest payable
Total Liabilities
Fund Equity
Investment in general fixed assets
Retained earnings - unreserved
Fund balances
Unreserved:
Designated for debt service
Undesignated
Total Fund Equity
Total Liabilities and Fund Equity
Governmental Fund Types
Debt
General Service
$ 2,253.62 $ 16,628.29
260,000.00
3,844.10
40,221.75
87,448.28
15,645.00
$409,412.75 $ 16,628.29
$ 293.75
$ 59,373.06
$ 59,373.06 $ 293.75
16,334.54
350,039.69
$350,039.69 $ 16,334.54
$409,412.75 $ 161628.29
1.
The accompanying notes are an integral part of the financial statements.
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Governmental Fund Types
Capital Special
Projects Assessments
2.66 $ 8,312.84
$157,354.30
$157,356.96
00
157,356.96
157,3&6.96
$157,356.96
45,950.00
$ 54,262.84
45,950.00
45,950.00
8,312.84
8,312.84
$ 54,262.84
Proprietary Fund Types
Enterprise Internal
Service
$ 93,443.80 $ (7,120.29)
460,000.00
94,265.91
2,291.750.28 78,421.00
$25939,459.99 $ 715300.71
17,477.41 1,159.62
18,535 .00
36,012.41 1,159.62
2,903,447.58 70,141.09
2,903,447.58 70,141.09
$2.939.459.99 $ 71.300.77_
Account Groups
General G.enepal
Fixed Long --term
Assets Debt
$ $ 2.58
120,535.50
1,163,481.00
16,628.29
2.,364,571.29
$1,163;481.00 $2,501837.66
2,501,837,66
.00 2,501,837.66
1,163,481.00
1,153,481.00 .00
$1,163,481.00 $2,501,837.66
Totals
Memorandum
Only
1984
1983
16,540.00
2,501,837.66
$ 113,523.50
$ 103,586.20
997,989.80
1,106,406.99
35844.10
17,082.69
405221.75
31,750.15
455950.00
58,925.00
94,265.91
915248.21
87,448.28
54,971.76
15,645.00
13,183.00
3,533,652.28
31)296,867.21
16,628.29
14,645.02
2,364,571.29 2,559,660.15
$71)3135740.20 $7,305,984.37
$ 293.75
$ 937.30
78,010.09
51,048.82
18,535.00
16,540.00
2,501,837.66
2,681,075.14
45,950.00
58,925.00
2,644,626.50
.2,808,526.26
1,163,481.00
1,0025643.00
2,973,588.67
2,926,988.83
24,647.38
14,663.93
5071)396.65
553,161.90
4,669,113.70 4,497,457.66
$7,313,720.20 $7,305,984.37
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CITY OF CHUBBUCK, Bannock County, Idaho
-Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - A11 Governmental Fund Types
For the Fiscal Year Ended September 30, 1984
Governmental �^
Revenues
Taxes
Special Assessments
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeits
Miscellaneous
Interest on investments
Total revenues
Expenditures
General Government
Public Safety
Highways and streets
Engineering
Culture and recreation
Other
Debt Service:
Principal retirement
Interest charges
Total Expenditures
Excess of revenues over
(under) expenditures
Other Financing Sources (uses)
Transfers in
Transfers ou.t
Total Other Financing Sources (uses)
Excess of revenues and other sources
(under) expenditures and other uses
Fund Balances at Beginning of Year
Fund Balances at End of Year
General
$ 477,103.97
30 ,262 .00
433,495.04
47,426.00
21,984.08
27,738.15
36,158.05
1,074,167.29
284.,274,34
492,201.64
141,809.85
7,815.12
163,763.38
30,126.86
1,119 , 991. 19
( 453823.90)
Debt
Service
1,689.02
1,689.02 F
20,000.00
66,712.50
86,712.50
(85,023.48)
86,713.00
86,713.00
( 45,823.90) 1,689.52
395,863.59
$ 350,039.69
1,4,645.02
$ 16,334.54
The accompanying notes are an integral part of these statements
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Fund
Types
Totals
Capital
Special
Memorandum
Projects
Assessments
1984
1983
$
$
$ 477,103.97
$ 454,664.99
20,855.74
20,855.74
3,540.12
30,262.00
26,011.55
433,495.04
364,739.33
47,426.00
475327.50
215984.08
19,271.67
.27,738.15
36,551.32
15,056.25
413.19
535316.51
48,807.02
15,056.25
215268.93
1,112,181.49
1,000,913.50
284,274.34
257,196.19
492,201.64
380,972.98
.1415809.85
160,116.59
7,815.12
15,647.99
163,763.38
59,479.42
30,126.86
26,988.51
10,000.00
30,000.00
30,000.00
2,975.00
69,687.50
715020.00
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12,975.00
1,219,678.69
1,001,421.68
151056.25
8,293.93
( 107,497.20)
(508.18)
86,713.00
143,060.30
(14,998.00)
( 14,998.00)
(46,256.15)
(14,998.00)
-0-C
71,715:00)
96,804.00
58.25
8,293.93
C 35,782.20)
96 295.97
157,298.71
18.91
5675826.23
471,530.26
$ 157,356.96
$ 8,312.84
$ 532,044.03
$ 567,826.23
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CITY OF CHUBBUCK, Bannock County, Idaho
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual - Accrual Basis
For the Fiscal Year Ended September 30, 1984
Revenues
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and Forfeits
Miscellaneous
Sale of city property
Interest on investments
Total, Revenues
Expenditures
General government
Public safety
Highways and streets
Engineering
Culture and recreation
Others
Capital projects
Total Expenditures
Excess of revenues over
(under) expenditures
Other Financing Sources
Transfers in
Excess of revenues over (under)
expenditures and other uses
Fund Balance at beginning of year
Fund Balance at end of year
General Fund
variance
Favorable
Budget Actual (Unfavorable)
$ 470,893.00
26,650.00
470,016.00
49,100.00
22,000.00
26,000.00
310,000.00
25,000.00
$ 477,103.97
30,262.00
433,495.04
47,426.00
21,984.08
27,738.15
-0-
36,158.05
1",399,659.00 1',Q74,167.29
279,693.00
545,540.00
199,052.00
8,500.00
223,900.00
30,950.00
300,000.00
284,274.34
492,201.64
141,809.85
7,815.1.2
163,763.38
30,126.86
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$ 6,210.97
3,612.00
(36,520.96)
(1,674.00)
(15.92)
1,738.15
(310,000.00)
11,158.05
(325,491.71)
(4,581.34)
53,338.36
57,242.15
684.88
60,136.62
823.14
300,000.00
1,587,635.00 1,119,991.19 467,643.81
(187,876.00) (45,823.90) 142,152.1.0
-0-
(45,823.90)
395,863.59
350,039.69
The accompanying notes are an integral part of these statements.
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CITY OF CHUBBUCK, Bannock County, Idaho
Statement of Revenues, Expenses,and Changes in Retained Earnings
Fund Balances - Proprietary Fund Types
For the Fiscal Year Ended September 30, 1984
Proprietary Fund Types Totals
Internal Memorandum only
Operating Revenues Enterprise Service 1984 1983
Charges for services
280,599.48
Sanitation
$196,775.11
Water
266,246.77
Sewer
2505331.99
Central garage
3,829.24
Total
7135353.87
Operating Expenses
32,691.98
Salaries and admin:..
235,465.58
Treatment
69,766.76
Pumping 8 Maintenance
28,335.16
Materials
29,284.60
Utilities
285759.39
Benefit payments
71,667.39
Equip. 8 Maintenance
43,867.01
Other
4,490.07
Depreciation
_86,450.00
Total 598,085.96
Operating Income
Nonoperating Revenues
Interest on investments
Total
Income before
Expenditures
Transfers Out
Net Income
Retained Earnings/Fund
Balances at beginning
of year
Retained Earnings/Fund
Balances at End of
Year
115,267.91
43.957.02
43,957.02
$ $196,775.11 $193,080.92
266,246.77 247,414.78
- 250,331.99 2365917.43
55,763.00 55,763.00 43,674.00
55,763.00 769,116.87 721,087.13
451133.90
280,599.48
232,643.82
69,766,76
64,362.91
28,335.16
195852.33
3,829.24
331)113.84
215421.04
3,932.59
32,691.98
34,479.08
71,667.39
64,112.13
45830.31
48,697.32
28,354.14
4,490.07
2,450.00
88,900.00
84,050.00
60,176.04 658,262.00 561,856.46
(4,413.04) 110,854.87 159,230.77
43,957.02 43,505.14
43,957.02 43,505.14
1591224.93 (4,413.04} 154,811.89 202,735.81
108,202.05 108,202.05 165,386.70
51,022.88 (4,413.04) 46,609.84 37,341.16
2,852,424.70 74',554.13 25926,978.83 2,881,639:62
$2,903,447.58 $70,141.09 $2,973,588.67$2,9265978.83,
` The accompanying notes are an integral part of these statements
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CITY OF CHUBBUCK, Bannock County, Idaho
Statement of Changes in Financia. Position - Proprietary Fund Types
For the Fiscal Year Ended September 30, 1984
Sources of Working Capital
Operations:
Net income
Add back items not requiring
working capital
Depreciation
Total Sources of Working
Capital
Uses of Working Capital
Acquisition of fixed assets
Total Uses of Working Capital
Net Increase (Decrease) in
Working Capital
Elements of Net Increase (Decrease)
in Working Capital
Cash
Investments
Receivables
Accounts payable
Deposits
Net Increase (Decrease in
Working Capital)
Proprietary Fund Types
The accompanying notes are an integral part of these statements
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Internal
Enterprise
Service
$ 51,022.88
(4,413.04)
86,450.00
2,450.00
137,472.88
(1,963.04)
164,847.07
164,847.07
-0-
$(27,374.19)
$(1,963.04)
$ 11,220.73
$(1)845.87)
(40,000.00)
3,017.70
372.38
(117.17)
(1,985.00)
$(27,374.19)
$(1,963.04)
The accompanying notes are an integral part of these statements
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CITY OF CHUBBUCK
Notes to Financial Statements
(1) Summary of Significant Accounting Policies
The City of Chubbuck was incorporated December 6, 1949. The City
operates under a mayor and council form of government and provides
the following services as authorized by its charter: public
safety (police and fire), highways and streets, sanitation, culture -
recreation, public improvements, planning and zoning, and general
administrative services.
The accounting policies of the City of Chubbuck conform to generally
accepted accounting principles as applicable to governments. The
following is a summary of the more significant policies:
A. 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 purpose
for which they are to be spent and the means by which spending
activities are controlled. The various funds are grouped in the
financial statements in this report, into six generic fund types
and two broad fund categories as follows.
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.
Federal revenue sharing monies are accounted for in the General
Fund.
Debt Service Funds - Debt Service Funds are used to account for
the accumulation of resources for, and the payment of, general
long-term debt principal, interest, and related costs.
Capital Projects Funds - Capital Project Funds are used to account
for financial resources to be used for the acquisition or con-
struction of major capital facilities (other than those financed
by proprietary funds, Special Assessment Funds, and Trust Funds).
Special Assessment Funds - Special Assessment Funds are used to
account for the financing of public improvements or services
deemed to benefit the properties against which special assessments
are levied.
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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 on a continuing basis 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 appropriated
for capital maintenance, public policy, management control,
accountability, or other purposes.
Internal Service Funds - Internal Service Funds are used to
account for the financing of goods or services provided by
one department or agency to other departments or agencies
of the City, or to other governments, on a cost --reimbursement
basis.
B. Fixed Assets and Long --Term Liabilities
The accounting and reporting treatment applied to the fixed
assets and long-term liabilities 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. Public domain ("infrastructure") general fixed
assets consisting of certain improvements other than
buildings, including roads, bridges, curbs and gutters,
streets and sidewalks, drainage systems, and lighting
systems, are capitalized along with other general fixed
assets. No depreciation has been provided on general
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.
Long-term liabilities expected to be financed from governmental
funds are accounted for in the General Long --Term Debt Account
Group, not in the governmental funds. The single exception to
this general rule is for special assessment bonds, which are
accounted for in Special Assessment Funds.
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The two account groups are not "funds". They are concerned
only with the measurement of financial position. They are
not involved with measurement of results of operations.
Noncurrent portions of long-term receivables due to
governmental funds are reported on their balance sheets,
in spite of their spending measurement focus. Special
reporting treatments are used to indicate, however, that
they should not be considered "available spendable resources,"
since they do not represent net current assets. Recognition
of governmental fund type revenues represented by noncurrent
receivables is deferred until they become current receivables.
Noncurrent portions of long-term loans receivable are offset
by fund balance reserve accounts.
Because of their spending measurement focus, expenditure
recognition for governmental fund types is limited to exclude
amounts represented by noncurrent liabilities. Since they
do not effect net current assets, such long-term amounts
are not recognized as governmental fund type expenditures
or fund liabilities. They are instead reported as lia-
bilities in the General Long -Term Debt Account Group.
All proprietary funds are accounted for on a cost of services
or "capital maintenance" measurement focus. This means that
all assets and all liabilities (whether'current or noncurrent)
associated with their activity are included on their balance
sheets. Their reported fund equity Cnet 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.
Depreciation of all exhaustible fixed assets used by
proprietary funds is. charged as an expense against their
operations. Accumulated.depreciation is reported on
prorietary fund balance sheets. Depreciation has been
provided over the estimated useful lives using the straight
line method. The estimated useful lives are as follows:
Buildings 25 - 50 years
improvements 30 - 40 years
Equipment 3 - 10 years
C. 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.
All governmental funds are accounted for using the
modified accrual basis of accounting. Their revenues
are recognized when they become measurable and available
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as net current assets. Taxpayer -assessed income, gross
receipts, and sales taxes are considered "measurable"
when in the hands of intermediary collecting governments
and are recognized as revenue at that time. Anticipated
refunds of such taxes are recorded as liabilities and
reductions of revenue when they are measurable and their
validity seems certain.
Expenditures are generally recognized under the modified
accrual basis of accounting when the related fund liability
is incurred. Exceptions to this general rule include
principal and interest on general long-term debt which
is recognized as due.
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.
D. Budgets and Budgetary Accounting
The City follows these procedures in establishing the
budgetary data reflected in the financial statements:
1. The City Council submits a proposed operating budget
for the fiscal year commencing the following October 1.
The operating budget includes proposed expenditures
and the means of financing them.
2. Public hearings are conducted by the City to obtain
taxpayer comments.
3. Prior to October 1, the budget is legally enacted
through passage of an ordinance.
4. The City Council is authorized to transfer budgeted
amounts between departments within any fund; however,
any revisions that alter the total expenditures of
any fund must be approved by the City Council and
the majority of the legal voters of the City.
5. Formal budgetary integration is employed as a
management control device during the year for
the General Fund, Special Revenue Funds, Capital
Projects Funds, and Special Assessment Funds, formal
budgetary integration is not employed for Debt Service
Funds because effective budgetary control is
alternatively achieved through general obligation
bond indenture provisions.
6. Budgets for the General, Special Revenue, and Capital
Projects Funds are adopted on a basis consistent with
generally accepted accounting principles. Budgeted
amounts are as originally adopted, or as amended by
the City Council on November 9, 1982. Individual
amendments were not material in relation to the original
appropriations which were amended.
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F. Investments
Investments are stated at cost or amortized cost, which
approximates market.
F. Advance to Other Funds
Noncurrent portions of long-term interfund .loans receivable
(reported in "Advance to" asset accounts) are equally offset
by a fund balance reserve account which indicates that they
do not constitute "available spendable resources" since
they are not a component of net current assets.- Current
portions of long-term interfund loans receivable (reported
in "Due from" asset accounts) are considered "available
spendable resources."
G. Comparative Data
Comparative Data
Comparative total data for the prior year have been presented
in the accompanying financial statements in order to provide
an understanding of changes in the City's fonancial position
and operations. However, comparative (i.e., presentation of
prior year totals by fund type) data have not been presented
in each of the statements since thier inclusion would make
the statements unduly complex and difficult to read.
H. 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 do 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.
(2) Property tax
Property taxes attach as an enforceable lien on property. Taxes
are levied on the second Monday in September and payable in two
installments on December 20 and June 20. The County bills and
collects its own property taxes and also taxes for the City.
Collections of the county .taxes and remittance of them to the
City are accounted for.in the County's records. City property
tax revenues are recognized when levied to the extent that they
result in current receivables.
(3) Due from Other Governments
Amounts due from other governments include $51,125.00 due from
the State and County for third quarter highway users revenue,
inventory phase out, liquor fund appointment and $36,323.23 for
Cotant Park construction.
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(4) Changes in General Fixed Assets
A summary of changes in general fixed assets are as follows:
Land 8 Building
Street Improvements
Equipment
Parks
Totals
Oct. 1, 1983
Additions
444,008
20,000
11,264
477,887
443,535
34,352
103,836
106,486
$1,002,643
$160,838
Deletions Sept. 30, 1984
-0--
$ 464,008
-0-
11,264
-0-
477,887
-0--
210.322
-0- $1,1631481
A summary of proprietary fund type property, plant and equipment at
September 30, 1984 are as follows:
(5) Changes in Long-term Debt
The following is a summary of bond transactions of the City
for the year ended September 30, 1984 (in thousands of dollars):
Bond payable at Oct. 1,
1983
Bonds retired
el
Bonds payable at September
30, 1984
Special
Revenue Assessment Total
$
15115
1)nl
$ 1,095
-12-
$ 50 $ 1.,165
(10) ( 30)
$ 40 $ 1,135
Enterprise
Waterworks
$ 506,562
Well - No. 2
31,142
Well. - No. 3
13,282
Heritage Well
35,624
Sewer
2,322,7.09
1984 Additions
117;438
Equipment
66,999
Shop building
85,771
Total
3,178,927
Less accumulated depreciation
( 8085756)
Net
$ 2,370,171
(5) Changes in Long-term Debt
The following is a summary of bond transactions of the City
for the year ended September 30, 1984 (in thousands of dollars):
Bond payable at Oct. 1,
1983
Bonds retired
el
Bonds payable at September
30, 1984
Special
Revenue Assessment Total
$
15115
1)nl
$ 1,095
-12-
$ 50 $ 1.,165
(10) ( 30)
$ 40 $ 1,135
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Bonds payable at September 30, 1984 are comprised of the following
individual issues (in thousands of dollars):
Revenue Bonds:
$1,000,000 1972 "sewer serial bonds due in annual installments
of $10,000 to $65,000 through October 1, 2012; interest is
at 6%. $ 905
$250,000 1976 water serial bonds due in annual installments
of $10,000 to $20,000 through September 1, 1996; interest
varies from 5 3/4 to 6%.
Special Assessment Bonds:
$985500 1978 Improvement District No. 1 serial bonds due
in annual installments of $8,000 to $10,000 through
July 1, 1988; interest is at 5.95
In addition to the bond payable, the City has
entered into lease agreements to finance the
purchase of a new addition to the City Build-
ing and a new fire truck. The amounts of the
lease payments that are to be paid in_"the
future total $343,262.66. These agreements
are not binding to any future City council
but they are included in the long-term debt
due to the unlikelihood of their cancellation.
1.01M
$1,095
$ 40
Year ending
Lease
Special
September 30
Payment
Revenue
Assessment
Total
1985
$ 92,525.03
$ 90,537.50
$ 12,380.00
$ 195,442.53
1986
92,525.03
89,062.50
11,785.00
193,372.53
1987
131,642.52
925587.50
11,190.00
135,420.02
1988-1992
126,570.08
450,487.50
10,595.00
587,652.58
1993-1997
425,100.00
425,100.00
1998-2002
338,200.00
338,200.00
2003-2007
334,200.00
334,200.00
2008-2012
338,400.00
3385400.00
Total
$343,262.66
$2,1585575.00
$ 45,950.00
$215475787.66
$165628 is available in the Debet Service Funds to service the general
obligation bonds. Additional detail by year is in the supporting
schedules.
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(6) Other Required Individual Fund Disclosures:
Generally accepted accounting principles require disclosure, as
part of the combined statements of certain information concerning
individual funds including:
A. Segment information for certain individual enterprise funds.
this requirement is effectively met in this report by statements
a, 5 and 6 because the City maintains only one enterprise fund.
B.
Summary
disclosures
of changes in
general fixed assets by major
asset class.
This
requirement is
met by note 4.
C.
Summary
disclosures
of debt service requirements to maturity
for all
types of outstanding
debt.
This requirement is met
by note
5.
D.
Summary
disclosures
of changes in
general long-term debt. This
requirement is met
by note 5.
E.
Deficit
fund balances
or retained
earnings of individual funds.
No funds
reflected
such balances at
September 30, 1984.
(7) Contingent Liabilities:
The City participates in Federal Revenue Sharing and a state of Idaho
grant from the Department of Parks and Recreation.
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CITY OF CHUBBUCK, Bannock County, Idaho
Bond Interest and Principal Payable by Year
Water Revenue Bonds, Series September 1, 1976 Total Issue $250,000
Totals $401687.50 $4015687.50
Local Inprovement Distract No. 1
Bond Principal and Interest Payable by Year
Date
July
1,
Interest Due
Year
Numbers
March 1
September 1
1985
13-14
$ 5,618.75
$ 5,618.75
1986
15-16
51331.25
55331.,25
1987
17-19
5,043.75
5,043.75
1988
20-22
45612.50
4,612.50
1989
23-25
43181.25
4,181.25
1990
26-28
35750.00
3,750.00
1991
29-31
3,300.00
3,300.00
1992
32-34
21850.00
2,850.00
1993
35-38
2,400.00
2,400.00
1994
39-42
1,800.00
1,800.00
1995
43-46
1,200.00
1,200.00
1996
47-50
600.00
600.00
Totals $401687.50 $4015687.50
Local Inprovement Distract No. 1
Bond Principal and Interest Payable by Year
Date
July
1,
1985
July
1,
1986
July
1.
1987
July
1,
1988
Totals
Bond
Number Interest
7 $ 25380.00
8 1,785.00
9 1,190.00
10 595.00
Principal
Due
September 1
$ 10,000. 00
10,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
20,000.00
20,000.00
20,000.00
20.000.00
$190,000.00
Principal
$ 101)000.00
10,000.00
10,000.00
10.000.00
Total
Due
$ 21,237.50
20,662.50
25,087.50
24,225.00
23,362.50
22,500.00
21,600.00
20,700.00
24,800.00
23,600.00
22,400.00
21,200.00
$271,375.00
Total
$ 12,975.00
12,380.00
11,785.00
10,595.00
$ 5,950.00 $ 40,000.00 $
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CITY OF CHUBBUCK, Bannock County, Idaho
Bond Interest and Principal Payable by Year
Sewer Revenue Bond, Series October 1, 1972, Total. Issue $1,000,000
-19-
Principal
Interest
Due
Due
Total,
Year
April 1
October 1
October 1
Due
1985
$ 27,150.00
$ 27,150.00
$ 15,000.00
$ 69,300.00
1986
26,700.00
265700.00
151)000.00
68,400.00
1987
26,250.00
26,250.00
15,000.00
67,500.00
1988
251800.00
25,800.00
155000.00
66,600.00
1989
25,350.00
25,350.00
15,000.00
65,700.00
1990
24,900.00
24,900.00
20,000.00
69,800.00
1991
24,300.00
24,300.00
20,000.00
68,600.00
1992
23,700.00
23,700.00
20,000.00
67,400.00
1993
23,100.00
23,100.00
20,000.00
66,200.00
1994
22,500.00
22,500.00
201000.00
651000.00
1995
21,900.00
21,900.00
255000.00
681800.00
1996
21,150.00
215150.00
25,000.00
67,300.00
1997
205400.00
20,400.00
25,000.00
65,800.00
1998
191)650.00
195650.00
30,0,00.00
69,300.00
1999
181)750.00
18,750.00
30,000.00
67,500.00
2000
17,850.00
17,850.00
30,000.00
65,700.00
2001
16,950.00
16,950.00
35,000.00
68,900.00
2002
15,900.00
15,900.00
351000.00
66,800.00
2003
145850.00
14,850.00
40,000.00
69,700.00
2004
13,650.00
13,650.00
40,000.00
67,300.00
2005
12,450.00
12,450.00
405000.00
64,900.00
2006
115250.00
ll',250.00
45,000.00
67,500.00
2007
9,900.00
91900.00
45,000.00
645800.00
2008
8,550.00
8,550.00
50,000.00
67,100.00
2009
7,050.00
7,050.00
55,000.00
69,100.00
2010
55400.00
5,400.00
55,000.00
65,800.00
2011
313750.00
3,750.00
60,000.00
67,500.00
2012
13950.00
1,950.00
65,000.00
685900.00
Totals
$491,100.00
$491,100.00
$905,000.00
$1,887,200.00
-19-
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FA
I:
CITY OF CHUBBUCK, Bannock County, Idaho
Summary of Federal Revenue-sharing
Receipts and Expenditures
Recei-Dts
Fiscal year ended September 30,
1984 $76,484.00
Insurance
Lease payment building
Building Addition
Fire truck lease payment
Total
-21-
Expenditures
$11,800.00
17,468.00
20,000.00
27,21.6.00
$76,484.00 $76,484.00
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CITY OF CHUBBUCK, Bannock County, Idaho
Supplemental information for Sewer Revenue Bond Ordinance
As of September 30, 1984
(1) Schedule of sewer rate charges
In City:
Single family residence
Duplex residential unit - per unit
Apartment building - per apartment
Motels - per unit
Trailers in trailer parks
Trailers on individual lots
Motels with cooking units - per unit
Hotels and rooming houses - per unit
Churches
Commercial businesses and schools
plus 35� per thousand gallons in
excess of ten thousand gallons of
water per month .
Out of City
Same as above except that each charge shall
be fifty percent greater than equivalent
charge for in the city.
Per Month
8.25
6.50
6.50
2.00
6.50
8.25
8.25
2.00
8.25
8.25
(2) Net Revenues of the system to be 1400 of Combined Average Annual
Principal and Interest Requirement:
Gross revenues
Less operating expenses
Net revenues
Average principal and interest
140% thereof
Net revenues under amount required
(3) Reserve fund to have $1,402.50 deposited per month
until a maximum of $67,320.00 is reached.
Maximum required
Assets at September 30, 1984
Amounts (over) requirement
-22-
$ 250,331.89
194,596.67
$ 55,735.22
$ 67,100.00
$ 93,940.00
$ 385204.78
$ 75,317.64
67,322.58
$ 7,995.06
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CITY OF CHUBBUCK, Bannock County, Idaho
Supplemental Information for Water Revenue Bond Ordinance
As of September 30, 1984
(1) Reserve fund to have $1,700 deposited
quarterly until a maximum of $27,200
is reached
Maximum required
$
27,200.00
Assets at September 30, 1983
44,160.15
Excess assets (over) requirement
$(
16,960.15)
(2) Bond Interest and Retirement Fund
Required - Interest 1/6 of $5,618.75
$
936.46
Required - Principal 1/12 of amount due
833.33
Total required
1,769.79
Net assets at Deptember 30, 1984
6,768.66
Amount (over) requirement
-$(
4,948.87)
(3) Net Revenues to be 125% of Principal, Interest,
and Reserve Requirement
Gross revenues $ 266,246.77
Less operating expenses 192,091.16
Net revenues 74,155.61
Principal and interest requirement for
the fiscal year $ 21,237.5C
125% thereof 26,546.88
Reserve requirement 6,800.00
Total required
Excess over requirement
-23-
33,364.88
$ 40,808.73
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