HomeMy WebLinkAbout1986CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
WITH AUDTTED FINANCIAL STATEMENTS
SEPTEMBER 30, 1986
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!tJ Jones, Yost & Hatt
CERTIFIED PUBLIC ACCOONTANTS
POCATELLO, IDAHO
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
WITH AUDITED FINANCIAL STATEMENTS
SEPTEMBER 30, 1986
CITY OF CHUBBUCK
ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 1986
TABLE OF CONTENTS
FINANCIAL SECTION
Auditor's Opinion Exhibit
Combined Statements - (Audited):
Combined Balance Sheet - All Fund Types and Account Groups . . . . . 1
Combined Statement of Revenues, Expenditures, and Changes in Fund
Balance - All Governmental Fund Types . . . . . . . . . . . . . . 2
Combined Statement of Revenues, Expenses, and Changes in Retained
Earnings - All Proprietary Fund Types . . . . . . . . . . . . . . 3
Combined Statement of Changes in Financial Position - All
Proprietary Fund Types . . . . . . . . . . . . . . . . . . . . . 4
Notes to Financial Statements
Financial Statements of Individual Funds - (Audited): Statement/
Schedule
General Fund:
Statement of Revenues and Expenditures -
Budget and Actual ( Cash Basis) . . . . . . . . . . . . . . . . A
Enterprise Funds:
Statement of Changes in Fixed Assets . . . . . . . . . . . . . . B
SUPPORTING SUMMARIES AND SCHEDULES
Schedule
Cash and Investment Summaries:
Cash on Hand, in Banks and Invested . . . . . . . . . . . . . . . 1
Statistical Section: Table
Summary of Maturities and Interest on Sewer Revenue Bonds by
Year - Issue of October 1, 1972 . . . . . . . . . . . . . . . . I
Summary of Maturities and Interest on Water Revenue Bonds by
Year - Issue of September 1, 1976 . . . . . . . . . . . . . . 2
Letter on Internal Control.
Letter on Compliance
Jk
Jones, Yost & Hatt
CERTIFIED PUBLIC ACCOUNTANTS
SCOTT N. JONES, CPA — Partner P-O. BOX 4987Pocatello, Idaho 83205
KENT L. YOST, CPA, JD — Partner
MORGAN J. HATT, CPA — Partner
Honorable Mayor and Members of the
City Council
City of Chubbuck, Idaho.
MEMBERS OF
American Institute of
Certified Public Accountants
Idaho Society of
Certified Public Accountants
We have examined the combined financial statements of the City of Chubbuck
and its individual fund financial statements as of and for the year ended
September 30, 1986, as listed in the table of contents. Our 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 we considered necessary in the circumstances.
In our opinion, the combined financial statements present fairly the
financial position of the City of Chubbuck at September 30, 1986, and the results
of its operations and the changes in financial position of its proprietary fund
types for the year then ended, in conformity with generally accepted accounting
principles. See Note 7 for an explanation of differences with prior financial
statements. ---�
Our examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole and on the individual fund
financial statements. 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. This information has been subjected to the auditing procedures applied
in the examination of the combined and individual fund financial statements and, in
our opinion, is fairly stated in all material respects in relation to the combined
financial statements taken as a whole.
JONES, -Y 5;� « I�A'I"[
f
Pocatello, Idaho,
February 2, 1987.
416 SOUTH 4TH AVENUE • P.O. BOX 4987 • POCATELLO, IDAHO 83205 • PHONE 2081233-5000
CITY OF CHUBBUCK
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
SEPTEMBER 30, 1986
ASSETS:
Cash in bank . . . . . . . . . . . . .
Cash invested . . . . . . . . . . . .
Receivables:
Property taxes (Note 1-H) .
State sales tax
Highway users' tax . . . . . . . .
Other . . . . . . . . . . . . . . .
Accounts (Note 1-A) .
State liquor tax. . .
Due from General Fund . . . . . . .
Assessments Receivables:
Future . . . . . . . . . . . . . .
Delinquent . . . . . . . . . . . .
Restricted Assets:
Bond reserve . . . . . . . . . .
Water meter deposits . . . . . . .
Fixed assets (Note 1-B) . . . . . . .
Total assets . . . . . . . . . . .
LIABILITIES:
Personal services, taxes and benefits.
Accounts payable . . . . . . . . . . .
Due to Enterprise Funds . . . . . . .
Deposits payable . . . . . . . . . . .
Deferred property taxes . . . . . . .
Deferred revenue - special assessments
Payable from Restricted Assets:
Bonds payable - current . . . .
Accrued bond interest payable . . .
Bonds payable -- long term. . . . . . .
Total liabilities . . . . . . . . .
FUND EQUITY:
Investment in general fixed assets .
Retained earnings . . . . . . . . . .
Contributed capital . . . . . . . . .
Reserve for
debt service . . . . . . . . . . .
Fund balance -- undesignated
Total fund equity . . . . . . . . .
Governmental Fund Types
Capital Special
General Projects Assessments
Fund Fund Fund
$ 63,461.30 $ 7,502.66 $ 7,218.22
100,000.00 215,046.54
70,181.77
29,190.60
49,520.37
6,979.30
1,355.50
5,952.00
18,344.70
1,880.38
$326,640.84 $222,549.20 $ 27,443.30
$ 54,674.13
31,982.02
64,401.14 ?
$ 18,344.70
10,000.00
297.50
10,000.00
151,057.29 $ .00 38,642.20
175,583.55 222,549.20 -11,198.90
175,583.55 222,549.20 -11,198.90
Total liabilities and
fund equity . . . . . $326,640.84 $222,549.20 $ 27,443.30
The accompanying notes are an integral part of these statements.
r -
EXHIBIT 1
70,181.77
29,190.60
49, 520.37
Y 6,979.30
126,158.90 127;514.40
5,952.00
31,982.02 31,982.02
18,344.70
1,880.38
159,621.91 159,621.91
36,630.00 36,630.00
2,304,180.85 73,521.00 $1,464,189.82 3,841,891.67
$3,046,100.15 $ 54,823.53 $ 1,4 64,189.82 $5,141,746.84
$ 12,578.35 $ 1,698.80
40,055.95 762.95
36,630.00
30,000.00
31, 293.75
1,015,000.00
1,165,558.05 2,461.75
$ 14,277.15
95,493.03
31,982.02
36,630.00
64,401.14
18,344.70
40,000.00
31,591.25
1,025,000.00
.00 1,357,719.29
1,464,189.82 1,464,189.82
778,881.71 52,361.78 831,243.49
942,038.48 942,038.48
159,621.91 159,621.91
386.933.85
1,880,542.10 52,361.78 1,464,189.82 3,784,027.55
$3,046,100.15 $ 54,823.53 $1,464,189.82 $5,141,746.84
Account
Proprietary
Fund Types
Group
Internal.
General
Totals
Enterprise
Service
Fixed
(Memorandum
Fund
Fund
Assets
Only)
$ 57,526.47
$-18,697.47
$ 117,011.18
330,000.00
645,046.54
70,181.77
29,190.60
49, 520.37
Y 6,979.30
126,158.90 127;514.40
5,952.00
31,982.02 31,982.02
18,344.70
1,880.38
159,621.91 159,621.91
36,630.00 36,630.00
2,304,180.85 73,521.00 $1,464,189.82 3,841,891.67
$3,046,100.15 $ 54,823.53 $ 1,4 64,189.82 $5,141,746.84
$ 12,578.35 $ 1,698.80
40,055.95 762.95
36,630.00
30,000.00
31, 293.75
1,015,000.00
1,165,558.05 2,461.75
$ 14,277.15
95,493.03
31,982.02
36,630.00
64,401.14
18,344.70
40,000.00
31,591.25
1,025,000.00
.00 1,357,719.29
1,464,189.82 1,464,189.82
778,881.71 52,361.78 831,243.49
942,038.48 942,038.48
159,621.91 159,621.91
386.933.85
1,880,542.10 52,361.78 1,464,189.82 3,784,027.55
$3,046,100.15 $ 54,823.53 $1,464,189.82 $5,141,746.84
CITY OF CHUBBUCK
EXHIBIT 2
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED SEPTEMBER 30, 1986
Governmental fund Types
EXPENDITURES:
General government .
325,422.35
Capital
Special
Totals
98,475.57
General
Projects
Assessments
(Memorandum
REVENUES:
Fund
Fund
Fund
Only)
Taxes . . . . . . . .
. $ 899,194.22
OTHER FINANCING SOURCES (USES):
Operating transfers in .
$ 899,194.22
Licenses and permits .
. 46,603.23
EXCESS REVENUE OR
46,603.23
Fines . . . . . . . .
. 32,315.28
32,315.28
Service charges
69,134.63
69,134.63
Revenue sharing . . .
. 993449.00
99,449.00
Interest . . . . . . .
. 20,698.47
$ 14,199.29
$ 2,968.11
37,865.87
Annual installments.
.
11,742.80
11,742.80
Miscellaneous. . . . .
. 1053987.34
105,987.34
Total revenues . .
. 1,273,382.17
14,199.29
14,710.91
1,302,292.37
EXPENDITURES:
General government .
325,422.35
Public safety
581,173.34
Parks and recreation
98,475.57
Highways and streets
190,470.20
Interest . . . . . . . .
Total expenditures
1,195,541.46
EXCESS REVENUES OR
(EXPENDITURES)
77,840.71
OTHER FINANCING SOURCES (USES):
Operating transfers in .
Operating transfers out.
-15,991.01
EXCESS REVENUE OR
(EXPENDITURES/USES)
61,849.70
325,422.35
581,173.34
98,475.57
190,470.20
1,636.25 1,636.25
1,636.25 1,197,177.71
14,199.29 13,074.66 1051114.66
7,500.00 7,500.00
-15,991.01
21,699.29 13,074.66 96,623.65
FUND BAL-NCE - BEGINNING. 254,965.07 200,849.91 4,613.56 4603428.54
PRIOR PERIOD ADJUSTMENTS
(NOTE 7) . . . . . . . . -141,231.22 -28,887.12 -1701118.34
FUND BALANCE - ENDING . . . $ 175,583.55 $222,549.20 $-11,198.90 $ 386,933.85
The accompanying notes are an integral part of these statements.
CITY OF CHUBBUCK
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1986
OPERATING REVENUES:
Service Charges:
Sanitation . . . . . . . . . . .
Water . . . . . . . . . . . . . .
Sewer . . . . . . . . . . . . . .
Interfund revenue. . . . . . . . . .
Total operating revenues
OPERATION EXPENSES:
Personnel . . . . . . . . . . . . .
Personnel benefits . . . . . . . . .
Supplies . . . . . . . . . . . . . .
Contractual services . . . . . . . .
Depreciation . . . . . . . . . . . .
Interfund expenses . . . . . . . . .
Total operating expenses
OPERATING INCOME (LOSS) . . . . . . . .
NONOPERATING REVENUES (EXPENSES):
Sale of equipment. . . . . . . . . .
Interest income . . . . . . . . . .
Interest expense . . . . . . . . . .
Total nonoperating revenues
(expenses) . . . . . . . . . .
NET INCOME OR (LOSS) . . . . . . . . .
OTHER FINANCING SOURCES:
Operating transfers (out). . . . . .
EXHIBIT 3
Water, Sewer
and Garbage Internal
Enterprise Service
Fund Fund Totals
$ 205,419.69
$
205,419.69
299,225.47
299,225.47
314,629.61
314,629.61
$ 76,819.00
76,819.00
819,274.77
76,819.00
896,093.77
276,228.22
44,326.83
320,555.05
124,139.95
124,139.95
42,933.91
6,717.60
49,651.51
284,891.19
191333.41
304,224.60
103,305.00
2,450.00
105,755.00
23,046.00
23,046.00
854,544.27
72,827.84
927,372.11
-35,269.50 3,991.16
2,000.00
45,691.12
-63,318.75
-15,627.63
-31,278.34
2,000.00
45,691.12
-63,318.75
-15,627.63
-50,897.13 3,991.16 -46,905.97
-7,500.00 --7,500.00
RETAINED EARNINGS:
Balance - Beginning . . . . . . . . 1,909,029.37 48,370.62 1,957,399.99
Decrease (increase) in reserves . . -17,692.31 -17,692.31
Prior period adjustments (Note 7) -1,054,058.22 -1,054,058.22
RETAINED EARNINGS:
Balance - Ending . . . . . . . . . . $ 778,881.71 $ 52,361.78 $ 831,243.49
The accompanying notes are an integral part of these statements.
CITY OF CHUBBUCK
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1986
Water, Sewer
and Garbage Internal
Enterprise Service
SOURCES OF WORKING CAPITAL: Fund Fund
Operations:
Net income . . . . . . . . . . . . . . $ 3,991.16
Depreciation . . . . . . . . . . . . . $ 103,305.00 2,450.00
Prior period adjustment -
long-term bonds payable . . . . . . . . 1,045,000.00
Nonoperations:
Interest . . . . . . . . . . . . . . . 45,691.12
Sale of equipment . . . . . . . . . . . 2,000.00
Total sources of working capital . . . 1,195,996.12 6,441.16
USES OF WORKING CAPITAL:
Operations:
IN WORKING CAPITAL:
Net loss . . . . . . . . . . . . .
. . 35,269.50
Acquisition of fixed assets . . . .
. . 9,900.00
Retirement of long-term debt . . .
. . 30,000.00
Prior period adjustments to
141,929.60
retained earnings - net . . . .
. . 912,128.62
Nonoperation Uses:
Accounts receivable . . . . . . . . .
Interest . .
Operating transfers out . . . . . .
. 7,500.00
Total uses of working capital . . .
. . 1,058,116.87
EXHIBIT 4
Totals
$ 3,991.16
105,755.00
1,045,000.00
45,691,12
2,000.00
1,202,437.28
35,269.50
9,900.00
30,000.00
912,128.62
63,318.75
7,500.00
1,058,116.87
NET INCREASE IN WORKING CAPITAL . . . . . . . $ 137,879.25 $ 6,441.16 $ 144,320.41
--------------- ---------- -------------
ELEMENTS OF NET INCREASE (DECREASE)
IN WORKING CAPITAL:
Cash . . . . . . . . . .
$ 23,028.56 $ 7,833.06 $
30,861.62
Prior period reclassification - cash .
. . 141,929.60
141,929.60
Water Meter deposits . . . . . . . . .
. . 6,987.37
6,987.37
Accounts receivable . . . . . . . . .
. . 21,748.76
21,748.76
Prior period adjustment -
due from General Fund . . . . . . .
. . 47,973.03
47,973.03
Due from General Fund . . . . . . . .
. . -15,991.01
-15,991.01
Personnel, taxes & benefits payable .
. . -12,578.35 -1,698.80
-14,277.15
Accounts payable . . . . . . . . . . .
. . -6,937.59 306.90
-6,630.69
Prior period adjustment -
bond and interest payable . . . . .
. . -57,031.25
-57,031.25
Interest payable . . . . . . . . . . .
. . 737.50
737.50
Bonds payable . . . . . . . . . . . .
. . -5,000.00
-5,000.00
Water Meter deposits . . . . . . . . .
. . -6087.37
-6,987.37
NET INCREASE IN WORKING CAPITAL . . . . . . . $ 137,879.25 $ 6,441.16 $ 144,320.41
The accompanying notes are an integral part of these statements.
CITY OF CHUBBUCK
NOTES -- d FINANCIAL STATEMENTS
SEPTEMBER 30, 1986
(1) 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 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 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 appropriate for capital maintenance, public policy,
management control, accountability, or other purposes.
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.
B. 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
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1986
(1) B. FIXED ASSETS - CONTINUED
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.
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.
The account group is not a 'fund."
measurement of financial position.
of results of operations.
C. BASIS OF ACCOUNTING
It is concerned only with the
It is not involved with measurement
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.
Ail governmental funds are accounted for using the modified accural basis
of accounting. Their revenues are recognized when they are earned.
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.
D. BUDGETS AND BUDGETARY ACCOUNTING
The City follows budgeting procedures as outlined in the Idaho State
Code.
E. 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.
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1986
(1) F. 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.
lnterfund eliminations have not been made in the aggregation of this data.
G. PROPERTY TAXES
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.
Due to the very high ratio of property taxes collected to taxes levied,
the City does not make an allowance for uncollectible property taxes.
(2) CHANGES IN GENERAL FIXED ASSETS
A summary of changes in general fixed assets follows:
Description:
Land and buildings . . . . .
Street improvements . . . .
Plant machinery and
equipment . . . . . . . .
Improvements other
than buildings. . . . . .
Balance Balance at
9-30-85 Acquisitions 9--30-86
$ 464,008.00 $ 35,327.34 $ 499,335.34
11,264.00 11,264.00
594,585.00
278,357.00
80,648.48 675,233.48
278,357.00
Totals . . . . . . . . . $1,348,214.00 $ 115,975.82 $1,464,189.82
NOTE: Enterprise fund properties are reported separately and are not included
in the above balance at September 30, 1986.
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1986
(3) LONG-TERM DEBT (ENTERPRISE FUND):
The annual requirements to amortize long --term debt as of September 30, 1986,
are as follows:
Year Ending
September 30
Revenues
1987
$ 30,000.00
1988
30,000.00
1989
30,000.00
1990
35,000.00
1991
35,000.00
1992
35,000.00
1993
40,000.00
1994
40,000.00
1995
45,000.00
1996
45,000.00
1997
25,000.00
1998
30,000.00
1999
30,000.00
2000
30,000.00
2001
35,000.00
2002
35,000.00
2003
40,000.00
2004
40,000.00
2005
40,000.00
2006
45,000.00
2007
45,000.00
2008
50,000.00
2009
55,000.00
2010
55,000.00
2011
60,000.00
2012
65,000.00
$1,045,000.00
(4) OTHER REQUIRED INDIVIDUAL FUND DISCLOSURES
Generally accepted accounting principles require disclosure, as part of the
Combined Statements - Overview, of certain information concerning individual
funds as follows:
A. Summary of disclosures of debt service requirements to maturity for all
types of outstanding debt. This requirement is met by Note (3).
B. Summary of disclosures of changes in general fixed assets by major asset
class. This requirement is met by note (2).
F
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I
CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1986
(4) RETIREMENT COMMITMENTS
The City contributed this year to the State Employee Retirement System
its share of employees' contributions. The City has no further liability
to this system. Future deficits would be financed by the State. Data
concerning the actuarial status of the system are not available.
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CITY OF CHUBBUCK
NOTES TO FINANCIAL STATEMENTS - CONTINUED
SEPTEMBER 30, 1986
(7) PRIOR PERIOD ADJUSTMENTS
Financial transactions related to revenue bonds were formerly reported
in general long-term debt and debt service funds. This information is
currently shown in the Enterprise Fund. Adjustments were also made
to properly reflect deferred taxes, and amounts due to or from other
funds.
CITY OF CHUBBUCK
STATEMENT OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL (CASK BASIS)
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 1986
REVENUES:
Taxes:
Propertytaxes . . . . . . . . . .
Sales tax
Highway users tax .
Liquor tax . . . . . . . . . . . .
Road and bridge tax .
Franchise taxes . .
Interest on delinquent taxes
Subtotal taxes . . . . . . . . . .
Revenue sharing . . . . . . . . . . .
Service charges . . . . . . . . . . .
Licenses and permits . . . . . . . . .
Fines . . . . . . . . . . . . . . . .
Interest . . . . . . . . . . . . . . .
Miscellaneous
Grant . . . . . . . . . . . . . . . .
Total revenues . .
EXPENDITURES:
General Government .
Public safety . . . . . . . . . . . .
Parks and recreation .
Highways and streets
Total expenditures . . . . . . . .
EXCESS REVENUE OR (EXPENDITURES). . . . .
OTHER FINANCING (USES):
Operating transfers out . . . . . . .
STATEMENT A
1, 477, 808.00 1,302,734.96 -175,073.04
625,579.00
324,113.94
Variance
693,788.00
584,215.69
Over
Budget
Actual
(Under)
$ 526,803.00
$ 510,345.92
-16,457.08
102,500.00
123,870.30
21,370.30
187,000.00
173,483.14
-13,516.86
20,500.00
23,808.00
3,308.00
25,600.00
29,308.76
3,708.76
30,800.00
31,688.61
888.61
6,000.00
7,303.29
1,303.29
899,203.00
899,808.02
605.02
83,605.00
99,449.00
15,844.00
64,850.00
67,779.13
2,929.13
35,150.00
46,603.23
11,453.23
35,000.00
31,955.18
-3,044.82
20,000.00
14,181.97
-5,818.03
325,000.00
105,987.34
-219,012.66
15,000.00
36,971.09
21,971.09
1, 477, 808.00 1,302,734.96 -175,073.04
625,579.00
324,113.94
301,465.06
693,788.00
584,215.69
109,572.31
97,850.00
110,536.71
-12,686.71
251, 347.00
184,891.18
66,455.82
1,668,564.00 1,203,757.52 464,806.48
-190,756.00 98,977.44 2891733.44
-15,000.00 -15,991.01 -991.01
EXCESS REVENUES OR (EXPENDITURES/USES). $ -205,756.00 $ 82,986.43 $ 288,742.43
The accompanying notes are an integral part of these statements.
CITY OF CHUBBUCK
STATEMENT OF CHANGES IN FIXED ASSETS
ENTERPRISE FUNDS
YEAR ENDED SEPTEMBER 30, 1986
ENTERPRISE FUND FIXED ASSETS:
Balance at cost - September 30, 1985 .
Additions:
Equipment - computer . . . . . . .
STATEMENT B
Storage
and Buildings
Distribution and
System Equipment Totals
$3,152,929.00 $ 144,786.00 $ 3,297,715.00
91900.00 91900.00
Balance at cost
- September 30, 1986
3,152,929.00
154,686.00
3,307,615.00
Less accumulated
depreciation
-956,504.00
-46,930.00
-1,003,434.00
Balance at net -
September 30, 1986
2,196,425.00
107,756.00
2,304,181.00
INTERNAL SERVICE FUND FIXED ASSETS:
Balance at cost
- September 30, 1985
85,771.00
85,771.00
Less accumulated
depreciation
-12,250.00
-12,250.00
Balance at net -
September 30, 1986.
73,521.00
73,521.00
TOTAL - September 30, 1986. . . . . . . .
$2,196,425.00
-------------
$ 181,277.00
------------
$ 2,377,702.00
--------------
The accompanying notes are an integral part of these statements.
CITY OF CHUBBBUCK
CASH ON HAND, IN BANKS, AND INVESTED
SEPTEMBER 30, 1986
SCHEDULE 1
CASH ON DEPOSIT:
Idaho Bank & Trust:
Checking accounts . . . . . . . . . . . . . $147,836.77
INVESTMENTS:
Idaho
Bank & Trust -
time certificates . . . .
$594,377.26
Idaho
Bank & Trust -
savings . . . . . . . . .
39,690.36
Idaho
Central Credit
Union - time certificates
125,967.03
First
Security Bank -
time certificates . . .
50,438.21
810,472.86
Total cash in bank and invested at
September 30, 1986 . . . . . . . . . . . . $958,309.63
The accompanying notes are an integral part of these statements.
CITY OF CHUBBUCK TABLE 1
SUMMARY OF MATURITIES AND INTEREST ON SEWER REVENUE BONDS BY YEAR
SEPTEMBER 30, 1986
The accompanying notes are an integral part of these statements.
Interest
Interest
Principal
Due
Due
Due
Total
Year
April 1
October 1
October 1
Due
1987
$ 26,250.00
$ 26,250.00
$ 15,000.00
$ 67,500.00
1988
25,800.00
25,800.00
15,000.00
66,600.00
1989
25,350.00
25,350.00
15,000.00
65,700.00
1990
24,900.00
24,900.00
203000.00
69,800.00
1991
24,300.00
243300.00
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
20,000.00
65,000.00
1995
21,900.00
21,900.00
25,000.00
68,800.00
1996
21,150.00
21,150.00
25,000.00
67,300.00
1997
20,400.00
20,400.00
25,000.00
65,800.00
1998
19,650.00
19,650.00
30,000.00
69,300.00
1999
18,750.00
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
35,000.00
66,800.00
2003
14,850.00
14,850.00
40,000.00
693700.00
2004
13,650.00
13,650.00
40,000.00
67,300.00
2005
12,450.00
12,450.00
40,000.00
64,900.00
2006
11,250.00
11,250.00
45,000.00
67,500.00
2007
9,900.00
9,900.00
45,000.00
64,800.00
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
5,400.00
5,400.00
55,000.00
65,800.00
2011
3,750.00
3,750.00
60,000.00
67,500.00
2012
1,950.00
1,950.00
65,000.00
68,900.00
Totals
$437,250.00
$437,250.00
$875,000.00
$1,749,500.00
The accompanying notes are an integral part of these statements.
CITY OF CHUBBUCK
TABLE 2
SUMMARY OF MATURITIES AND INTEREST ON WATER REVENUE BONDS BY YEAR
SEPTEMBER 30, 1986
Totals $29,737.50 $ 29,737.50
------------ -----------
Principal
due
September 1
Total. Due
$ 15,000.00
Interest
Interest
24,225.00
15,000.00
23,362.50
due
due
Year
Numbers
March 1
September 1
1987
17-19
20,000.00
$ 5,043.75
$ 5,043.75
1988
20-22
21,200.00
4,612.50
4,612.50
1989
23-25
4,181.25
4,181.25
1990
26-28
3,750.00
3,750.00
1991
29-31
3,300.00
3,300.00
1992
32-34
2,850.00
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 $29,737.50 $ 29,737.50
------------ -----------
Principal
due
September 1
Total. Due
$ 15,000.00
$ 25,087.50
15,000.00
24,225.00
15,000.00
23,362.50
15,000.00
22,500.00
15,000.00
21,600.00
15,000.00
20,700.00
20,00.00
24,800.00
20,000.00
23,600.00
20,000.00
22,400.00
20,000.00
21,200.00
$170,000.00 $229,475.00
The accompanying notes are an integral part of these statements.
I'
Jk
Jones, Yost & Hatt
CERTIFIED PUBLIC ACCOUNTANTS
P.O. BOX 4987 MEMBERS OF
SCOTT N. JONES, CPA — Partner
KENT L ONST, CPA, JD — Partner Pocatello, Idaho 83205 American Institute of
Certified Public Accountants
MORGAN J. HATT, CPA — Partner Idaho Society of
Certified Public Accountants
Honorable Mayor and Members of the
City Council
City of Chubbuck, Idaho
We have examined the combined financial statements of the City of
Chubbuck, Idaho, for the year ended September 34, 1986, and have issued
our report thereon dated February 2, 1987. As part of our examination,
we made a study and evaluation of the City's system of internal control
to the extent we considered necessary to evaluate the system as required
by generally accepted auditing standards. The purpose of our study and
evaluation was to determine the nature, timing and extent of the auditing
procedures necessary for expressing an opinion on the City's financial
statements. Our study and evaluation were more limited than would be
necessary to express an opinion on the system of internal accounting control
taken as a whole. Specific controls reviewed were:
Cash receipts Budgeting
Cash disbursements Fixed assets
Payroll Long-term debt
Revenues
The City's management is responsible for establishing and maintaining
a system of internal accounting control. In fulfilling this responsibility,
estimates and judgement by management are required to assess the expected
benefits and related costs of control procedures. The objectives of a
system 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 financial statements in accordance with generally accepted accounting
principles.
ZOur study and evaluation made for the limited purpose described in
'the first paragraph disclosed no condition that we believed to be a material
weakness.
OIC S, X & HATT
Pocatello, Idaho,
February 2, 1987.
416 SOUTH 4TH AVENUE • P.O. BOX 4987 • POCATELLO, IDAHO 83205 • PHONE 208!233-5040
jk
Jones, Yost & Hatt
CERTIFIED PUBLIC ACCOUNTANTS
P.O. BOX 4987
SCOTT N. JONES, CPA — Partner Pocatello, Idaho 83245
KENT L YOST, CPA, JD — Partner
MORGAN J. HATT, CPA Partner
Honorable Mayor and Members of the
City Council
City of Chubbuck, Idaho
MEMBERS OF
American Institute of
Certified Public Accountants
Idaho Society of
Certified Public Accountants
We have examined the combined financial statements of the City of
Chubbuck, as of and for the year ended September 30, 1986, and have issued
our report thereon dated February 2, 1987. Our examination was made
in accordance with generally accepted auditing standards; the provisions
of Standards for Audit of Governmental Organizations, Programs, Activities,
and Functions, promulgated by the Comptroller General, which pertain to
financial and compliance audits; provisions of Office Management and Budget
(OMB) Circular A-128, Uniform Administrative Requirements for Grants -In -Aid
to State and Local Governments, and accordingly included such tests of the
accounting records and such other auditing procedures as we considered
necessary in the circumstances_
Circular A-128 requires that the examination include a determination
of whether the Federal financial reports (including financial status
reports, and claims for advances and reimbursements) prepared by the
City contain accurate and reliable financial data. We have been
informed that OMB interprets the phrase "accurate and reliable
financial data" to mean that the Federal financial reports present the
underlying financial data of the grants and contracts with limits that
are reasonable and practicable to attain under the circumstances.
In our opinion, the City of Chubbuck complied with the material terms
and conditions of its Federal grants, contracts and agreements, and the
tested Federal financial reports present the underlying financial data
of the grants within the limits described in the preceding paragraph.
Further, based upon our examination and the procedures referred to above,
nothing came to our attention to indicate the City had not complied with
the compliance matters referred to above, and the Federal financial reports
do not present the underlying financial data of the grants within the limits
described in the preceding paragraphs.
7�;7
ONES, ,YOSTJ & HATT
Pocatello, Idaho,
February 2, 1987.
416 SOUTH 4TH AVENUE • P.O. BOX 4987 0 POCATELLO, IDAHO 83205 • PHONE 208!233-5000