HomeMy WebLinkAbout2008-2009.AuditReportCITY OF CAPE GIRARDEAU, MISSOURI
Cape Girardeau; Missouri
For the Year Ended June 30, 2009
ANNUAL FINANCIAL REPORT
BEUSSINK, HEY, ROE,
SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
CITY OF CAPE GIRARDEAU. MISSOURI
TABLE OF CONTENTS
FINANCIAL SECTION Pale No.
INDEPENDENT AUDITORS' REPORT 1-2
REQUIRED SUPPLEMENTARY INFORMATION
MANAGEMENTS DISCUSSION AND ANALYSIS 3-18
BASIC FINANCIAL STATEMENTS
GOVERNMENT -WIDE FNANCIAL STATEMENTS
STATEMENT OF NET ASSETS 19-20
STATEMENT OF ACTIVITIES 21-22
FUND FNANCIAL STATEMENTS
GOVERNMENTAL FUNDS FINANCIAL STATEMENTS
BALANCE SHEET 23-24
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL
FUNDS TO THE STATEMENT OF NET ASSETS 25
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES 26
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES 27
PROPRIETORY FUNDS FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS 28-29
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN
FUND NET ASSETS 30
STATEMENT OF CASH FLOWS 31-32
FIDUCIARY FUNDS FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS 33
NOTES TO BASIC FINANCIAL STATEMENTS
REQUIRED SUPPLEMENTAL INFORMATION
34-74
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - GENERAL 75
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - AIRPORT 76
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - PARK & RECREATION 77
NOTES TO BUDGETARY COMPARISON SCHEDULES 78-81
SCHEDULE OF FUNDING PROGRESS 82
SUPPLEMENTAL INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - VISION 2000 83
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - CONVENTION AND TOURISM 84
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - DOWNTOWN BUSINESS DISTRICT 85
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - HEALTH
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - MOTOR FUEL TAX 87
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - CAPITAL IMPROVEMENT SALES TAX -
FLOOD CONTROL 88
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - CAPITAL IMPROVEMENT SALES TAX -
WATER SYSTEM IMPROVEMENTS 89
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - TRANSPORTATION SALES TAX
TRUST FUND 90
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - CAPITAL IMPROVEMENT SALES TAX -
SEWER SYSTEM IMPROVEMENTS 91
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - TRANSPORTATION SALES TAX TRUST FUND II 92
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - FIRE SALES TAX 93
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - PUBLIC SAFETY TRUST 94
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - DEBT SERVICE 95
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - GENERAL CAPITAL IMIPROVEMENTS 96
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - STREET IMPROVEMENTS 97
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - PARK IMPROVEMENTS 98
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - FAU GRANT PROJECTS 99
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - COMMUNITY DEVELOPMENT BLOCK
GRANT PROJECTS 100
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGE IN FUND BALANCES - BUDGET AND
ACTUAL - TRANSPORTATION SALES TAX TRUST
FUND III 101
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - PARK STORM WATER SALES TAX 102
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - PARK STORM WATER SALES TAX - CAPITAL 103
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - HOUSING DEVELOPMENT GRANTS 104
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - SEWER 105
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - WATER 106
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - SOLID WASTE 107
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - GOLF COURSE 108
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - SOFTBALL COMPLEX 109
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - MANAGEMENT INFORMATION SYSTEMS 110
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - FLEET MANAGEMENT 111
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - FRINGE BENEFITS 112
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - RISK MANAGEMENT 113
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - EQUIPMENT REPLACEMENT 114
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECTION
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 115-116
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH G0VERATMENT A UDITING STANDARDS
117-118
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 119-121
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 122
SCHEDULE OF FINDINGS AND QUESTIONED COSTS 123-125
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS 126
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
16 So. Silver Springs Road
4018 Sycamore 105 So. Hope
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703
Telephone (618) 734-3300 Telephone (573 ) 334-7971 Jackson, Missouri 3755
Telephone (573) 243--3991
Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
E\TDEPENDENT AUDITORS' REPORT
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
We have audited the accompanying financial statements of the governmental activities, the
business -type activities, each major fund, and the aggregate remaining fund information of the
City of Cape Girardeau, Missouri (the City), as of and for the year ended June 30, 2009, which
collectively comprise the City's basic financial statements as listed in the table of contents.
These financial statements are the responsibility of the City's management. Our responsibility is
to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities. the business -type activities, each
major fund, and the aggregate remaining fund information of the City of Cape Girardeau,
Missouri as of June 30, 2009. and the respective changes in financial position, and cash flows,
where applicable, thereof for the year then ended in conformity with accounting principles
generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated
December 17, 2009. on our consideration of the City's internal control over financial reporting
and on our tests of its compliance with certain provisions of laws, regulations, contracts, and
grant agreements and other matters. The purpose of that report is to describe the scope of our
testing of internal control over financial reporting and compliance and the results of that testing,
and not to provide an opinion on the internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be considered in assessing the results of our audit.
1
The management's discussion and analysis and budgetary comparison information on pages 3
through 18 and 75 through 81 are not a required part of the basic financial statements but are
supplementary information required by accounting principles generally accepted in the United
States of America. We have applied certain limited procedures, which consisted principally of
inquiries of management regarding the methods of measurement and presentation of the required
supplementary information. However, we did not audit the information and express no opinion
on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of Cape Girardeau, Missouri's basic financial statements. The
combining and individual nonmajor fund financial statements are presented for purposes of
additional analysis and are not a required part of the basic financial statements. The
accompanying Schedule of Expenditures of Federal Awards is presented for purposes of
additional analysis as required by U.S. Office of Management and Budget Circular A-133, Audits
of States, Local Governments, and Non -Profit Organizations, and is also not a required part of
the basic financial statements of the City of Cape Girardeau, Missouri. The combining and
individual nonmajor fund financial statements and the Schedule of Expenditures of Federal
Awards have been subjected to the auditing procedures applied in the audit of the basic financial
statements and, in our opinion, are fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Cape Girardeau, Missouri
December 17, 2009
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF CAPE GIRARDEAU, MISSOURI
Management's Discussion and Analysis
The discussion and analysis of the City of Cape
Girardeau's financial performance provides an
overall review of the City's financial activities
for the fiscal year ended June 30. 2009. The
intent of this discussion and analysis is to look at
the City's financial performance as a whole.
Readers should also review the basic financial
statements and related notes to those statements
to enhance their understanding of the City's
financial performance.
Financial Highlights
o The assets of the City of Cape Girardeau
exceeded its liabilities at the close of the most
recent fiscal year by $222,471,493 (net
assets). Of this amount, $30,705,365
(unrestricted net assets) may be used to meet
the City's ongoing obligations to citizens and
creditors.
o As of the close of the current fiscal year, the
City of Cape Girardeau's governmental funds
reported combined ending fund balances of
542,864,779. Approximately 60.0 percent of
this total amount, $25,710,828 is available for
spending at the government's discretion
(unreserved fund balance).
o At the end of the current fiscal year. the
unreserved fund balance for the general fund
was $522,700 or 2.2 percent of total general
fund expenditures and transfers.
o At the end of the current fiscal year, general
fund balance reserved for emergencies was
$3,164,101 or 13.4 percent of total general
fund expenditures and transfers. During the
current year, pursuant to of an emergency that
was declared in the previous year as a result
of a severe ice storm, $137.270 was used
from the balance reserved for emergencies to
pay for the installation of generators at City
Hall and the City's community center.
o The City implemented GASB Statement No.
45 during the current year. This
pronouncement requires that the expense for
non -pension postemployment benefits be
recognized as earned by employees and not
when paid by the City. As a result additional
expenses and liabilities were recognized this
year totaling $816220 and $113,191 in the
3
governmental and business -type activities,
respectively.
o The City of Cape Girardeau's fixed assets
increased $9.059,594 during the year. Net
fixed asset additions of $18.597,710 were
made during the year. Depreciation for the
current fiscal year reduced fixed assets by
$9.538,116.
The City of Cape Girardeau's total long-term
debt increased by $13,933,068 (22.1 percent)
during the current fiscal year. During the year
the City issued leasehold revenue bonds
totaling $19,740,196 (net of discount) to fund
various park and storm water improvements
and entered into a $125,000 note payable to
finance a portion of the land costs for a new
downtown parking lot. Regularly scheduled
principal payments and amortization of bond
premiums / discounts resulted in outstanding
long-term debt being reduced by $5.932,128.
Overview of the Financial Statements
This discussion and analysis are intended to
serve as an introduction to the City of Cape
Girardeau's basic financial statements.
The City of Cape Girardeau's basic financial
statements are comprised of three components:
1) government -wide financial statements, 2) fund
financial statements, and 3) notes to the financial
statements. This report also contains other
supplementary information in addition to the
basic financial statements themselves.
Government -wide financial statements.
The government -wide financial statements are
designed to provide readers with a broad
overview of the City of Cape Girardeau's
finances, in a manner similar to a private -sector
business.
The statement of net assets presents information
on all the City's assets and liabilities, with the
difference between the two reported as net
assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether
the financial position of the City is improving or
deteriorating.
The statement of activities presents information
showing how the City's net assets changed
during the most recent fiscal year. All changes
CITY OF CAPE GIRARDEAU, MISSOURI
in the net assets are reported as soon as the
underlying event giving rise to the change
occurs, regardless of the timing of the related
cash flows. Thus, revenues and expenses are
reported in the statement for some items that will
only result in cash flows in future fiscal periods
(e.g., uncollected taxes and earned but unused
vacation leave).
Both of the government -wide financial
statements distinguish fimctions of the City of
Cape Girardeau that are principally supported by
taxes and intergovernmental revenues
(govermmental activities) from other functions
that are intended to recover all or a significant
portion of their costs through user fees and
charges (business -type activities). The
governmental activities of the City of Cape
Girardeau include administrative services,
development services, parks and recreation,
public safety. and public works. The business -
type activities of the City include sewer, water.
and solid waste utilities and golf course and
softball complex operations. The government -
wide financial statements can be found on pages
19 to 22 of this report.
Fund financial statements. A fund is a
grouping of related accounts that is used to
maintain control over resources that have been
segregated for specific activities or objectives.
The City of Cape Girardeau, like other state and
local governments, uses fund accounting to
ensure and demonstrate compliance with
finance -related legal requirements. All of the
funds of the City can be divided into three
categories: governmental funds, proprietary
funds, and fiduciary funds.
Governmental Funds. Governmental funds are
used to account for essentially the same
functions reported as governmental activities in
the government -wide financial statements.
However, unlike the government -wide financial
statement, governmental fund financial
statements focus on near-term inflows and
outflows of spendable resources, as well as on
balances of spendable resources available at the
end of the fiscal year. Such information may be
useful in evaluating a government's near-term
financing requirements.
Because the focus of the governmental funds is
narrower than that of the government -wide
financial statements. it is useful to compare the
information presented for governmental funds
with similar information presented for
governmental activities in the government -wide
il
financial statements. By doing so, readers may
better understand the long-term impact of the
government's near tern financing decisions.
Both the governmental fund balance sheet and
the governmental fund statement of revenues,
expenditures. and changes in fund balances
provide a reconciliation to facilitate this
comparison between governmental funds and
governmental activities.
The City of Cape Girardeau maintains 29
individual governmental funds. Information is
presented separately in the governmental fund
balance sheet and in the governmental fund
statement of revenues. expenditures, and changes
in fund balances for the general. airport, parks
and recreation, transportation trust 111, and parks
projects from parks sales tax funds, which are
considered, or have been designated, to be major
funds of the City. Data from the other
governmental funds are combined into a single.
aggregated presentation.
The City of Cape Girardeau adopts annual
appropriated budgets for all its governmental
funds, excluding the following capital project
funds which have project length budgets: water
system improvements, storm water
improvements from parks / storm water sales tax
and park improvements from parks / storm water
sales tax. Budgetary comparison statements have
been provided for all major governmental funds
as part of the financial statements to demonstrate
compliance with this budget. Budgetary
comparison statements for the remaining
governmental funds are present as supplemental
information.
The basic governmental fund financial
statements can be found on pages 23 to 27 of this
report.
Proprietary funds. The City of Cape Girardeau
maintains two types of proprietary funds.
Enterprise funds are used to report the same
functions presented as business -type activities in
the government -wide financial statements. The
City used enterprise funds to account for its
sewer, water. and solid waste utilities and its golf
course and softball complex operations. Internal
service funds are an accounting device used to
accumulate and allocate costs internally among
the City's various functions. The City uses
internal service funds to account for operation of
its management information systems, fleet
management. self-insured employee benefits and
workmen's compensation programs, and its
internal equipment leasing program.
CITY OF CAPE GIRARDEAU, MISSOURI
Proprietary funds provide the same type of
information as the government -wide financial
statements, only in more detail. The proprietary
fund financial statements provide separate
information for the sewer, water. and solid waste
utilities and golf course and softball complex
operations. All of these are considered, or have
been designated, to be major funds of the City.
The internal service funds are combined into a
single, aggregated presentation in the proprietary
fund financial statements.
The basic proprietary fund financial statements
can be found on pages 28 to 32 of this report.
Budgetary comparison statements for all the
proprietary funds are present as supplemental
information.
Notes to the Financial Statements. The notes
provide additional information that is essential to
a full understanding of the data provided in the
government -wide and fund financial statements.
The notes to the financial statements can be
found beginning on page 34 of this report.
Government -wide Financial Analysis
As noted earlier, net assets may serve over time
as a useful indicator of a government's financial
position. In the case of the City of Cape
Girardeau, assets exceeded liabilities by
$222,471.493, an increase of $6.564,834 (3.0%).
The City's $182,845.071 net investment in
capital assets (land, buildings, machinery, and
Current and other assets
Capital assets
Total assets
Long-term liabilities outstanding
Other liabilities
Total liabilities
Net assets:
Invested in capital assets,
Net of related debt
Restricted
Unrestricted
Total net assets
equipment less related outstanding debt used to
acquire those assets) makes up 82.2% of the
City's net assets. This net investment increased
$14,696.740 (8.7%) during the current fiscal
year. The City uses these capital assets to
provide services to citizens; consequently, these
assets are not available for future spending.
Although the City's investment in its capital
assets is reported net of related debt, it should be
noted that the resources needed to repay this debt
must be provided from other sources, since the
capital assets themselves cannot be used to
liquidate these liabilities.
An additional portion of the City's net assets (4.0
percent) represent resources that are subject to
external restrictions on how they may be used.
The portion of the City's net assets subject to
external restrictions was $112.953 (1.3%) more
than the previous year. The remaining balance of
net assets ($30,705,365) is unrestricted and may
be used to meet the City's ongoing obligations to
citizens and creditors. This reflects an
$8,244,859 (21.2%) decrease over the previous
year.
At the end of the current fiscal year, the City is
able to report positive balances in all three
categories of net assets. both for the government
as a whole, as well as for its separate
governmental and business -type activities. The
same situation was true of the prior year.
City of Cape Girardeau's Net Assets
Governmental Business -type
Activitv Activities Total
2009
2008
2009
2008
2009
2008
51,979,663
37,356,399
14,556,300
14,955,466
66,535,963
52,311,865
149,105,969
139,183,129
92,464,329
93,327,575
241,570,298
232,510,704
201,085,632
176,539,528
107,020,629
108,283,041
308,106,261
284,822,569
43,394,183
27,478,600
25,970,177
29,323,667
69,364,360
56,802,267
10,250,504
5,682,485
6,019,904
6,431,158
16,270,408
12,113,643
53,644,687
33,161,085
31,990,081
35,754,825
85,634,768
68,915,910
119,771,644 107,745,365 63,073,427 60,402,966 182,845,071 168,148,331
4,622,706 4,728,902 4,298,351 4,079,202 8,921,057 8,808,104
23,046,595 30,904,176 7,658,770 8,046,048 30,705,365 38,950,224
147,440,945 143,378,443 75,030,548 72,528,216 222,471,493 215,906,659
5
CITY OF CAPE GIRARDEAU, MISSOURI
Governmental activities. Governmental activities increased the City of Cape Girardeau's net assets by $4,078.269
(compared to $4,962,682 in the previous fiscal year). This amount combined with the use of $7,857,581 (25.4%) of
the previous year's unrestricted net assets funded 99.2% of the $12.026,279 (11.2%) increase in net investments in
capital assets during the fiscal year.
01
City of Cape Girardeau's Change in Net Assets
Governmental
Business
-type
activities
activities
Total
2009
2008
2009
2008
2009
2008
Revenues:
Program revenue:
Charges for service
3,907,466
3,708,717
12,690,661
12,354,339
16,598,127
16,063,056
Operating grants and
contributions
1,611,839
1,096,778
149,306
101,738
1,761,145
1,198,516
Capital grants and
contributions
1,667,933
1,800,663
519,340
1,550,464
2,187,273
3,351,127
General revenues:
Property taxes
1,944,680
1,878,043
-
-
1,944,680
1,878,043
Sales taxes
21,981,847
19,442,199
-
21,981,847
19,442,199
Othertaxes
7,990,413
8,101,466
-
-
7,990,413
8,101,466
Other
1,666,740
1,828,812
743,332
744,391
2,410,072
2,573,203
Total revenues
40,770,918
37,856,678
14,102,639
14,750,932
54,873,557
52,607,610
Expenses:
Administrative
6,415,924
6,236,764
-
-
6,415,924
6,236,764
Capital Improvements
632,998
412,001
-
632,998
412,001
Development Services
2,010,202
1,808,457
-
2,010,202
1,808,457
Interest and other costs
1,388,445
1,278,387
-
1,388,445
1,278,387
Parks and Recreation
3,873,940
3,351,269
-
3,873,940
3,351,269
Public Safety
12,512,216
11,231,769
-
-
12,512,216
11,231,769
Public Works
6,028,091
5,745,817
-
-
6,028,091
5,745,817
Sewer
-
-
5,495,680
5,097,187
5,495,680
5,097,187
Water
-
-
5,759,009
5,769,156
5,759,009
5,769,156
Solid Waste
-
-
3,146,307
2,933,006
3,146,307
2,933,006
Golf Course
-
-
522,990
545,128
522,990
545,128
Softball Complex
-
-
507,154
464,179
507,154
464,179
Total expenses
32,861,816
30,064,464
15,431,140
14,808,656
48,292,956
44,873,120
Increase in net assets
before transfers
7,909,102
7,792,214
(1,328,501)
(57,724)
6,580,601
7,734,490
Transfers
(3,830,833)
(2,829,532)
3,830,833
2,829,532
-
-
Increase in net assets
4,078,269
4,962,682
2,502,332
2,771,808
6,580,601
7,734,490
Net assets -beginning of year
143,378,443
138,387,051
72,528,216
69,801,354
215,906,659
208,188,405
Prior period adjustments
(15,767)
28,710
-
(44,946)
(15,767)
(16,236)
Net assets -end of year
147,440,945
143,378,443
75,030,548
72,528,216
222,471,493
215,906,659
01
CITY OF CAPE GIRARDEAU, MISSOURI
Activity in the following revenue and expense items should be noted for the current fiscal year:
Revenues from governmental activities
Charges for service increased $198,749 (5.4%) over the previous year. During the year special event revenues,
net margin on fuel sales, and rental revenues at the Cape Girardeau Regional airport decreased $92,777
(72.3%), $79,430 (28.5%), and 35,924 (17.2%), respectively, from revenues earned in the previous year.
Significant increases from the previous year were: (1) internal charges were up $219.655 (25.6%), (2)
development related user fees were up $112,042 (62.8%) and (3) recreation special events and league fees were
up $50,898 (62.8%).
In the previous year the airport had a week -end air show supported by sponsorships and gate receipts. During
the current year the City had a scaled down air show at the City's Fourth of July celebration that was supported
only by sponsorship revenue. Although this change resulted in a decline of the special event revenue, it did
lower the net cost of the air show by $21.968 (52.7%) from the previous year. The decline in the net margin in
fuel sales at the airport reflected a 27.7% decrease in the number of gallons of fuel sold at the airport during the
past year. Lease revenue from the manufacturing facility located on the airport premises declined $39,000
(100%) this year. Three additional months of rentals were deferred this year. At the end of the current year
$383,000 or 28 months of rental payments have been deferred on this facility during the past three years.
Internal staff expense charged to capital projects increased significantly this year reflecting the progress made
on projects during the year. The increase in development related user fees this year was the result of increased
building permit and plan review fees associated with two large hospital expansion projects and one elderly
apartment complex and inspection fees associated with a large residential subdivision. The increase in
recreation special event and league revenue resulted from increased fees and activity during the year and also
resulted in a $21.627 (37.9%) increase in costs related to these activities.
Operating grants and contributions were $515,061 (47.0%) more than the previous year. This year the City
received a historic Preservation Courthouse Grant from the Missouri Department of Natural Resources and
intergovernmental revenue from the County totaling 581.770 to upgrade the HVAC system at the Common
Pleas Courthouse and a $250.000 Community Development Block Grant that was passed through to the
developer of a senior citizen apartment complex. No revenues were received from these grants in the previous
year. During the current year the City received $364,823 in payments from FEMA and SEMA for the
reimbursement of costs associated with various natural disaster events during the year and $116,638 from a
SAFER grant to cover the portion of the personnel costs of three additional firefighters. During the previous
year payments from these sources were $279,929 and $5,616 respectively.
• Capital grants and contributions decreased $132.730 (7.7%) over the previous year. In the current year
$696.681 of donated assets and infrastructure were recorded. This was 5203,236 (29.7%) less than the previous
year. Benefiting property owners were charged $33,331 for a portion of this year's infrastructure costs. This
was $15,044 (31.1%) less than the previous year. The remaining grant and contribution revenue was $937,921
which was $85,550 (10.0%) more than the previous year.
• Property tax revenue was $66,637 (3.5%) more than the previous year. Final adjusted assessed value of real
estate increased $12,403,432 (3.0%) over the previous year. New construction and annexed property accounted
for $11,591,480 and $46,930 of this increase, respectively. Final adjusted assessed value of personal property
decreased $1.651.378 (1.5%) over the previous year. State law allowed the City to increase its levy rate by 1.3%
during the current year.
7
CITY OF CAPE GIRARDEAU, MISSOURI
Revenues from governmental activities (continued)
Sales tax revenue was 53.9% of the total revenue during the current year vs. 51.4% in the previous
year. This year's revenue, which included the new parks / storm water sales tax that went into effect October 1,
2008, was $2,539,648 (13.1%) more than the previous year. Excluding the effects of the new tax, sales tax
revenue would have decreased $309,926 (1.6%) from the previous year. From fiscal year ending June 30, 2006
through fiscal year ending June 30, 2008 sale tax revenue had annual growth rates of 4.1%, 2.8% and..6%,
respectively. During the first weekend in August customers can purchase limited amounts of school supplies,
clothing, and computers without being charged sales tax. It is estimated that the holiday may reduce annual
revenue by as much as .25%.
• Other taxes decreased $111,053 (1.4%) from the previous year. Convention and tourism taxes and liquor license
taxes grew $46.796 (2.8%) and, $4,384 (7.4%) respectively. Motor fuel taxes. franchise taxes, other taxes,
business licenses decreased $88,978 (63%), $65.121 (1.8%), $4,675 (2.8%) and $3,459 (.3%) respectively.
The increase in the convention and tourism taxes was comprised of a $35,347 (3.2%) increase in restaurant
taxes and an $11,449 (2.0%) increase in hotel / motel taxes.
Ameren paid 79.7% of the total franchise tax collected during the year based on its electricity and natural gas
revenues. During the current year Ameren paid $95.777 (3.5%) more than the previous year. The previous
year's payments had been reduced by approximately $100,000 as a result of a rebate given to its natural gas
customers during that year.
Franchise tax paid during the current year by the City's telecommunication and cable TV service providers
decreased $145,405 (40.1 %) and $15,168 (4.0%), respectively, from the previous year. During the previous
year the City's telecommunication providers had paid $176,334 in back taxes as a result of the settlement of a
state-wide law suit. During the current year the City received $27.500 in back taxes from its telecommunication
service providers. During the previous year a $30.000 charge to the City's cable TV provider for support of the
public access channel expired.
In November of the previous year the State began withholding from its monthly motor fuel tax distribution to
the City amounts that had previously been overpaid to the City in error during the three previous years. This
additional withholding, which will expire at the end of the next fiscal year, was a contributing factor in this
year's motor fuel tax reduction. Another contributing factor in this year's reduction was a $41.274 (18.2%)
decline in the amount of state motor vehicle sales tax that distributed to the City.
• Other revenue decreased $162.072 (8.9%) over the previous year. Investment earnings. which account for
94.1 % of other revenue, decreased $162.601 (10.4%).
Expenses from governmental activities
Administrative expenses totaled $6,415,924 this year which was $179,160 (2.9%) more than the previous year.
Excluding personnel costs, the most significant cost item included in this category is the City's support of the
"River Campus Project". This is a joint City/University project. The City agreed to make payments from its
convention and tourism taxes to pay principal and interest on bonds issued by the University to fund $8.9
million of construction costs related to a campus, performance center. and museum on property that oversees
the Mississippi River. The campus began operating in the fall of 2007. The total cost of the project exceeded
$60 million. The city's payments to Southeast Missouri State University increased $28,766 (2.5%) to
$1,199,768 this year.
CITY OF CAPE GIRARDEAU, NIISSOUTU
Expenses from governmental activities (continued)
Costs of development services, parks and recreation, and public .works employees and related overhead charged
to other City funds for services and various construction projects are included as part of administrative services
costs. In the current year these costs totaled $856,488. This was $218,043 (34.1%) more than the previous year.
This year's costs included $113,871 in costs of public works employees used for the solid waste fund's leaf and
limb pickup programs. Almost all remaining costs related to various construction projects. Internal charge
revenue is included in charges for services revenues equal to these costs.
Current revenues collected from the hotel, motel, and restaurant taxes not used for the operation of the
Convention Visitors Bureau are committed to payoff the "River Campus" bonds. Unspent hotel, motel. and
restaurant taxes collected before November 2004 are used to fund various tourism related projects. During the
current year the City spent $89,976 on such projects. a decrease of $77,491 (46.3%) from the previous year. At
the,end of the current year there was still $610,460 available for expenditure on future tourism related projects.
The additional current year's costs resulting from implementing GASB 45 were $58,201.
• Capital improvements expenses totaled $632,998 this year which was $220,997 (53.6%) more than the previous
year. These costs represent street and other capital projects that did not meet the City's $5,000 capitalization
threshold (the amount at which the expenditure would be recorded as a capital asset).
• Development services expenses totaled $2,010.202 this year which was $201.745 (11.2%) more than the
previous year. During the current fiscal year the City made economic development payments totaling $211279
as reimbursements on development agreements entered into in previous fiscal years. These payments were
$29,338 (16.1 %) more than were made in the previous year.
During the current year the City recognized $250,000 in costs associated with a grant that was passed through to
a local developer. The developer used the money to purchase an old school builduig in the City from the public
school system. This building was reconstructed into a senior citizen apartment complex during the year. The
$250.000 grant is included in the City's operating grant and contribution revenue for the current year.
Development services expenses included $239,986 is costs associated with neighborhood improvement
projects. The current year's costs for neighborhood improvement projects were $17,837 (7.4%) less than the
previous year. Associated grant revenue totaling $223,121 is included in the City's operating grant and
contribution revenue for the current year.
General community development costs included in this year's development services expense were only
$13,040. This was 65,627 (83.4%) less than the previous year.
Development services personnel costs decreased $41,027 (4.4%) this year over the previous year. The key
factor for this decrease was the allocation of more personnel costs to capital projects of the City. Personnel
costs are charged to the City's capital projects based on hours worked and total hourly costs. These costs are
included in the administrative services function.
The additional current year's costs resulting from implementing GASB 45 were $65,196.
Interest and other costs totaled $1,388,445 this year which was $110,058 (8.6%) more than the previous year. In
March 2009 the City issued $19,885,000 of bonds to finance various park and storm water projects. In June
2009 the City entered into a $125.000 note payable to finance a portion of the cost of land for a new downtown
parking lot. Interest on this new debt totaled $198.483 during the current year. Scheduled principal and interest
payments were made on all remaining debt during the year.
• Parks and recreation expenses totaled $3,873,940 this year which was $522,671 (15.6%) more than the previous
year. This year's expenditures include $254,684 in equipment and vehicle purchases that did not meet the
City's $5,000 capitalization threshold. All of these expenditures were funded by a new parks / storm water sales
9
CITY OF CAPE GIRARDEAU, MISSOURI
tax that went into effect October 1, 2008. The golf course spent $150.990 on new carts during the current year.
These costs are included in the above equipment and vehicle purchases.
Personnel costs included in this years expenses totaled $2,140,644 which was SI 65,582 (8.4%) greater than the
previous year. This year's costs included 5 new full-time employees and a 6% mid -year increase for its
minimum wage employees. The cost of the new employees was funded by the new parks / storm water sales
tax.
The additional current year's costs resulting from implementing GASB 45 were $99,776.
Public safety expenses totaled $12,512,216 this year which was $1.280.447 (11.4%) more than the previous
year. Personnel costs totaled $9,581.460 during the current year. This was 511.996 (5.6%) more than the
previous year. Increased workmen's compensation and health coverage costs accounted for 65.7% of the
personnel cost increase. Personnel costs also included 3 new fire fighter positions that were partially funded by
a grant. Associated grant revenue totaling $116,638 is included in the City's operating grant and contribution
revenue for the current year.
Public safety expenses include $68,168 for putting flashing beacons at school sites throughout the City. The
costs were funded through a "Safe Routes to School" grant. Associated grant revenue totaling $70,462 is
included in the City's capital grant and contribution revenue for the current year.
Other significant cost increases during the current year were depreciation which increased 24.0% from the
previous year to $759.642 and fleet maintenance costs which increased 26.8% from the previous year to
$253.387.
The additional current year's costs resulting from implementing GASB 45 were $505,098
Public works expenses totaled $6,028.091 this year which was $282,274 (4.9%) more than the previous year.
Included in this year's expense is depreciation expense totaling $3.943,357 and personnel costs totaling
$898.497. These expenses increased $117,274 (3.1%) and $116.582 (14.9%). respectively. from the previous
year. Increased workmen's compensation and health coverage costs accounted for 51 % of the personnel cost
increase.
The additional current year's costs resulting from implementing GASB 45 were $47,268.
sot tbal CWPL-x
Golf course .. ■ Revenue
e Revenue
Sold Waste _
Sew er
The illustration above makes it clear that all the governmental activities and business -type activities of the City
with the exception of water and solid waste required a subsidy by taxpayers. General revenues in these
activities, which include transfers from special revenue sales taxes, were sufficient to provide adequate
subsidies for both the governmental and business -type activities.
10
CITY OF CAPE GIRARDEAU, MISSOURI
Revenues by Source —
Governmental Activities
Revenues for governmental activities
other taxes
196%
sales taxes
- 53.9%
Property taxes
4.tf% -
4.1%
Operating %Charge for Other
grants : Service 4.1%
39% 9.6%
The above chart summarizes the sources of
revenue from government activities. The three
main sources of revenue and their share of total
governmental revenues are sales tax (53.9%).
other taxes (19.6%) and charges for services
(9.6%).
The City's general sales tax represents 39.1
percent of the total sales tax revenue and 45.0
percent of the total general fund revenues. The
remaining sales taxes are for parks, storm water,
transportation. sewer, water, and public safety
prof ecu.
The general fund accounts for 62.0% and 68.4%
of the other tax and service charge revenue
respectively. This represents 25.9% and 14.0%
of the total general fund revenues respectively.
Business -type activities. Business -type activities
increased the City of Cape Girardeau's net assets
by $2,502,332 (compared to $2,771,808 in the
previous fiscal year). Excluding transfers from
government activities, business -type net assets
decreased $1,328,501 and $57,724. respectively,
during the last two years. These decreases were
offset by transfers from governmental activities
totaling 53,830,833 and $2,829,532, respectively,
during the past two years.
II
Transfers of sales tax revenue for bond payments
totaling $2,210,261 and operating subsidy transfers from
the general and parks / storm water sales tax funds
totaling $670.851 make up 57.7% and 17.5% of this
year's total transfers, respectively. Last year these
transfers totaled $2,198,604 and $472,744, respectively
and represented 77.7% and 16.7% of that year's
transfers. Transfers of water system improvements from
the capital projects fund increased $796.242 from the
previous year to S834,426 this year.
The net change in assets before transfers and general
revenues in the sewer, water, solid waste, golf. and
softball operations totaled $(2,155,036), $402,981,
233,186, $(203.158), and $(349,806), respectively,
this year. This compares to $(737,275), $168,835,
202,608, $(132,568), and $(303,715), respectively, in
the previous year.
Revenues for business -type activiies
Capttal
grants
3.79e
Other
53%
Operating
Grants
to%
Chagefor
seance
900%
CITY OF CAPE GIRARDEAU, MISSOURI
Financial Analysis of the City's Funds
As noted earlier, the City of Cape Girardeau uses
fund accounting to ensure and demonstrate
compliance with finance -related legal
requirements.
Governmental funds. The focus of the City's
governmental funds is to provide information on
near-term inflows, outflows, and balances of
spendable resources. Such information is useful
in assessing the City's financing requirements.
In particular, unreserved fund balance may serve
as a useful measure of the City's net resources
available for spending at the end of a fiscal year.
As of June 30, 2009, the City's governmental
funds reported combined ending fund balances
of $42,864,779, an increase of $12,861,590
(42.9%) from the prior year. Unreserved fund
balances, which are available for spending at the
City's discretion, account for $25,696.560
(59.9%) of the total fund balances. The
remainder of the fund balances are reserved to
indicate that they are not available for new
spending because they have already been
committed 1) to meet the City's Charter required
emergency reserves ($4,107,607). 2) to fund
purchase orders open at the end of the year
($11,351.876), 3) to set aside fund balance not
currently available for expenditure equal to long-
term loans due from other City funds
($1,0-38,196),4) to pay debt service ($260.486),
and 5) restricted to a specific use ($410,054).
The general fund is the chief operating fund of
the City. At the end of fiscal year ending June
30, 2009. unreserved fund balance of the general
fund was $522,700 while total fund balance was
$4,963,577. As a measure of the general fund's
liquidity, it may be useful to compare both
unreserved fund balance and total fund balance
to total fund expenditures. Unreserved fund
balance represents only 2.2 percent of total
general fund expenditures including transfers.
However, included in the reserved fund balance
is $3.164,101, which had been reserved to meet
the City Charter's emergency reserve
requirement. This amount represents 13.4
percent of total general fund expenditures
including transfers and could be used if an
emergency was declared by the City Council.
12
The Governmental Funds Statement of Revenue,
Expenditures, and Changes in Fund Balance shows that
the total fund balance of the City of Cape Girardeau's
general fund decreased by $216,389 during the current
fiscal year. However, the General Fund Statement of
Revenues, Expenditures, and Changes of Fund Balance
prepared on a budget basis shows a current fiscal year
increase of $40,858. Differences between the amounts
reflected in the two statements can be found in the
Notes to Budgetary Comparison Schedules found on
pages 78 - 81.
The original adopted general fund budget for the
fiscal year ending June 30, 2009 was balanced with
the projected use of $37,899 in accumulated fund
balances from previous years. The actual general
fund results increased fund balances by $40,858.
Significant deviations from this budget are detailed
below:
o Sales tax revenue was $135,831 (1.56%)
less than the previous year, which was
$347.774 (3.89%) less than projected for the
adopted budget. The amount projected in the
adopted budget assumed I% growth for fiscal
year ending June 30, 2008 and 2% growth for
fiscal year ending June 30, 2009. Actual
revenue for fiscal year ending June 30, 2008
was only .57% greater than the previous year.
o Franchise tax revenue was $66,021 (1.8%)
less than the previous year. The main factor
leading to this decrease was a $145,405
(40.1 %) decrease in revenues collected from
telecommunication service providers.
In the previous year, as a result of
settlement of a state-wide law suit, the City
began collecting taxes from all providers of
telecommunication service. Approximately
$176,334 of the telecommunication related
franchise taxes received in the previous year
was for prior years' taxes. This year only
$27.500 of taxes collected related to prior years.
Approximately 2/3 of this year's reduction
in the telecommunication franchise tax revenue
was offset by a $95,777 (3.5%) increase in
franchise tax revenue from the City's electric
and natural gas provider. This increase resulted
mainly from a rebate given to natural gas
customers in the previous year that reduced that
year's franchise tax revenue.
CITY OF CAPE GIRARDEAU, MISSOURI
Franchise tax revenue was $113.112
(3.3%) more than projected for the adopted
budget. Franchise taxes from electric and
natural gas utilities, telecommunications.
and cable TV exceeded their budgets by
$50360 (1.8%), $57,472 (36.0%), and
$11,682 (3.3%).
o Real estate and personal property tax
revenue increased $43,499 (2.9%) over the
previous year which was 543,290 (2.7%)
more than projected for the budget.
The final assessed values for real
estate grew 3.0% while the final assessed
values for personal property declined 1.1%
from the previous year. The adopted budget
for fiscal year ending June 30, 2009 had
assumed 1.0% and 2.0% assessed value
growth respectively.
o Business license revenue declined
$3.459 (.3%) over the previous year but
still exceeded the projected budget by
$5,791 (.5%). The adopted budget for
fiscal year ending June 30; 2009 had
assumed 2% growth on projected revenue
for fiscal year ending June 30, 2008.
o Other license and permit revenue was
$48.040 (25.4%) higher this year than the
previous year which was $23,921 (11.2%)
more than projected for the budget. Permit
revenue associated with the local hospitals'
expansion projects was the main
contributor to this year's positive results.
o Intergovernmental revenue exceeded
revenue projected for the budget by
$516,843 (87.2%). This year's
intergovernmental revenue included
$441.701 in disaster relief payments from
state and federal agencies resulting from
various natural disasters during the year
and other capital grants totaling $108.468.
The grant revenue for providing police
security at the airport was $65,892 less
than expected this year because of the lack
of commercial air service at the airport for
a good portion of the year.
o Service charges were $48,533 (17.4%)
greater than the previous year which was
$33.892 (11.5%) more than projected in the
budget. During the year the City received
significant development and plan review
13
fees from one residential development and three
commercial developments.
o Internal charges were 5219,857 (25.2%)
greater than the previous year which was
$114.651 (11.7%) more than projected in the
budget. During the year the City made better
than anticipated progress on completion of its
major capital projects. This resulted in more
internal salaries being charged to these projects
than had been anticipated by the budget.
o Fines and forfeits revenue was 55.860
(.7%) more than the previous year despite a
9.9% decline in the number of traffic violation
cases. Fines and forfeits revenue was $64,796
(7.6%) less than projected for the budget. The
adopted budget for fiscal year ending June 30,
2009 had assumed revenue levels equal to fiscal
year ending June 30, 2007actual results.
o During the current fiscal year expenditures
were $22,192 (.1 %) more than original budget.
Debt service and capital expenditures exceeded
the original budget by $11.686 (6.2%) and
$174.022 (488.2%). Current operating
expenditures were $163.516 (.9%) less than the
original budget.
o Transfers to other funds for operating
subsidies and capital expenditures exceeded
their original budgets by S 145,541 (3.9%) and
$30.063 (51.0%) respectively. Additional
transfers to the airport fund accounted for
$204,463 of the additional operating subsidies.
Proprietary funds. The City of Cape Girardeau's
enterprise funds are all presented as major funds for
purposes of this report. As a result, all statements
related to the enterprise funds are presented at the
government -wide level. The City does have Internal
Service funds, which are reported in total on the
Proprietary Fund Statement and consolidated with
other governmental activities on the government -
wide statements.
CITY OF CAPE GIRARDEAU, MISSOURI
General Fund Budgetary Highlights
Total expenditures and transfer on the final
amended budget were $1,368.500 (5.9%) more
than the original adopted budget. The changes
can be summarized as follows:
$335,000 to cover costs associated with
sinkhole mitigation, flash flooding, river
floodine and winter storm events that
occurred during the year which are
included in current contingent expenses.
These costs were funded by disaster relief
payments from state and federal agencies.
o $137,000 to cover costs to install
generators at City Hall and the Osage
Community Centre during the year which
are included in current contingent
expenses. These costs were funded from
the emergency reserve fund.
o $40.000 to cover additional operating
expenses of the police division included in
current public safety expenses. The
additional operating expenses were funded
by previous years' unspent donation
revenue.
o $9.500 to cover costs of repairing ice
damage done to a maintenance building at
Arena Park included in current parks and
recreation expenses.
o $85,000 to cover costs of replacing the
HVAC system at the Common Pleas
Courthouse included in development
services capital outlay expenses. $81,770
of the additional costs was covered by
intergovernmental revenue.
o $92,000 for final payment on option to
purchase land next to public works
headquarters included in public works
capital outlay expenses. This expenditure
was previously appropriated in the previous
fiscal year.
o $500,000 general fund transfers to the
airport and parks and recreation fund to
cover the costs of projected operating
deficits. Only $204,463 of this
appropriation was actually used.
14
$165.000 general fund transfer to the
community development block grant fund to
cover local cost of land for a new downtown
parking lot. Only $43,264 of this transfer was
actually made because $125,000 of the land
cost was eventually funded by debt.
o $5,000 general fund transfer to the airport fund
to cover the cost of a floor scrubber. This
transfer was never made.
Unused appropriations of development services
($140,000), parks and recreation ($5.000), public
safety ($5.000), and public works ($23.000) were
transferred to administrative in current operating
expenses.
Excess general fund revenues and unrestricted fund
balances were used to fund all appropriations that
did not have an identified funding source.
Capital Assets and Debt Administration
Capital Assets. The City of Cape Girardeau's
investment in capital assets for its governmental
and business -type activities as of June 30. 2009.
amounts to $241,570,298 (net of accumulated
depreciation). This investment in capital assets
includes all land, buildings and system
improvements, machinery and equipment, and
infrastructure owned by the City.
City Capital Assets
2.3% 492%
3.9%
a Land
■ Buldngs/Epuipment
O Infraslnietum
446%
o ConstnPown in
progress
CITY OF CAPE GIRaRDEAU, MISSOURI
Major capital asset events during the current
fiscal year included the following:
o Construction costs totaling $9,777,574 on
approved transportation sales tax projects
were incurred this year. This tax was
originally approved to complete a specific
list of street projects. which also included
amounts for street repair and overlay.
sidewalk construction and repair, and
street light installation and upgrades.
$76,538 in costs was also incurred during
the year on street projects not included on
the transportation sales tax list of projects.
o Construction costs totaling $1,092,415 on
water system projects were incurred this
year. Major water system improvements
included well drilling in the southern part
of the City. adding water main extensions
and the two-inch water main replacement
program.
o Construction costs totaling $745,156 were
incurred for other improvements. These
projects included hangar renovation at the
airport, heating/cooling system upgrade at
the Common Pleas court house. traffic
signal upgrades. parking lot improvements
in the downtown area, and trail
construction.
15
o Construction costs totaling $529,698 on sewer
system projects were incurred this year. A
capital improvement sales tax was originally
approved in 1994 to complete a specific list of
improvements to the sewer system. Over
$33,350.000 in revenue bonds have been
issued through the State Revolving Loan
Program to complete these projects. All of the
projects on the list are now complete.
o Police and fire station improvements in the
amount of $129,231 were made possible by
the passage of a Fire Sales Tax.
o Total expenditures to complete the remodeling
of the aviation terminal building at the Airport
amounted to $72.485. This was partially
funded by grant revenue.
o hi April 2008 voters approved a''/� cent sales
tax to pay for storm water and park
improvement projects. $247.760 and
$1,904.347 were spent respectively during the
current year on these projects.
Additional information about the City's capital assets
can be found in note D to the financial statements.
City of Cape Girardeau's Capital Assets
(net of depreciation)
Governmental
Business -type
Activity
Activities
Total
2009
2008
2039 2008
2009
2008
Land
5,370,111
4,948,851
161,990 161,990
5,532,101
5,110,841
Buildings and
system
improvements
12,253,179
12,006,556
2,204,432 2,401,870
14,457,611
14,408,426
Improvements
other than
buildings
9,890,277
10,438,168
85,769,063 86,308,300
95,659,340
96,746,468
Equipment
5,902,960
4,367,125
3,0E8,396 3,002,885
8,961,356
7,370,010
Infrastructure
107,513,636
103,172,322
- -
107,513,636
103,172,322
Construction in
progress
8,175,806
4,250,107
1,270,448 1,452,530
9,446,254
5,702,637
Total
149,105,969
139,183,129
92,464,329 93,327,575
241,570,298
232,510,704
Major capital asset events during the current
fiscal year included the following:
o Construction costs totaling $9,777,574 on
approved transportation sales tax projects
were incurred this year. This tax was
originally approved to complete a specific
list of street projects. which also included
amounts for street repair and overlay.
sidewalk construction and repair, and
street light installation and upgrades.
$76,538 in costs was also incurred during
the year on street projects not included on
the transportation sales tax list of projects.
o Construction costs totaling $1,092,415 on
water system projects were incurred this
year. Major water system improvements
included well drilling in the southern part
of the City. adding water main extensions
and the two-inch water main replacement
program.
o Construction costs totaling $745,156 were
incurred for other improvements. These
projects included hangar renovation at the
airport, heating/cooling system upgrade at
the Common Pleas court house. traffic
signal upgrades. parking lot improvements
in the downtown area, and trail
construction.
15
o Construction costs totaling $529,698 on sewer
system projects were incurred this year. A
capital improvement sales tax was originally
approved in 1994 to complete a specific list of
improvements to the sewer system. Over
$33,350.000 in revenue bonds have been
issued through the State Revolving Loan
Program to complete these projects. All of the
projects on the list are now complete.
o Police and fire station improvements in the
amount of $129,231 were made possible by
the passage of a Fire Sales Tax.
o Total expenditures to complete the remodeling
of the aviation terminal building at the Airport
amounted to $72.485. This was partially
funded by grant revenue.
o hi April 2008 voters approved a''/� cent sales
tax to pay for storm water and park
improvement projects. $247.760 and
$1,904.347 were spent respectively during the
current year on these projects.
Additional information about the City's capital assets
can be found in note D to the financial statements.
CITY OF CAPE GIRARDEAU, MISSOURI
City of Cape Girardeau's Outstanding Debt
Year ended 2009
Governmental Business -type
Activity Activities Total
2009 2008 2009 2008 2009 2008
Notes payable
1,317,125
1,264,375 457,875 485,625
1,775,000
1,750,000
Special
obligation
bonds
6,471,913
7,270,161 184,577 379,012
6,656,490
7,649,173
Revenue bonds
17,455,594
18,485,931 29,107,986 32,660,905
46,563,580
51,146,836
Certificates of
participation
2,235,209
2,365,258 - -
2,235,209
2,365,258
General
obligation
bonds
-
- -
-
-
Leasehold
revenue bonds
19,722,056
108,000
19,722,056
108,000
47,201,897 29,493,725 29,750,438 33,525,542 76,952,335 63,019,267
Long-term debt. At the end of the fiscal year.
the City of Cape Girardeau had total debt
outstanding of $76,952,335. Bonded debt
outstanding totaling $46.563.580 is secured by
revenues of the sewer and water funds and
capital improvement sales taxes. The repayment
of the remaining debt is subject to annual
appropriations.
The City's total debt increased by $13,933.068
(22.1 %) during the year. During the year the City
issued leasehold revenue bonds totaling
$19,740,196 (net of discount) to fund various
park and storm water improvements and entered
into a $125,000 note payable to finance a portion
of the land costs for a new downtown parking
lot. Regularly scheduled principal payments and
amortization of bond premiums / discounts
resulted in outstanding long-term debt being
reduced by $5.932.128. Revenues from a parks /
storm water sales tax passed in April 2008 will
be used to repay the leasehold revenue bonds
issued this year.
More information about the City's outstanding
debt can be found in note E to the financial
statements.
16
Economic Factors and the Next Year's Budget
Commercial and residential development held up
reasonably well during the current year. However,
residential development is approximately 45% below
fiscal year ending June 30. 2007 levels.
Commercial and residential permits valued at $47.9
million and $12.4 million were issued this year.
Commercial and residential permits valued at $28.8
million and $12.5 million were issued in the previous
year. Only 33 single family residence building
permits totaling $6,892,992 were issued during the
current year compared to 50 totaling $9,437,324 in
the previous year. Most of the decline in single
family residence building permits during the past
year was offset by a $2.030,000 (263.6%) increase in
apartment building permits. Driving factors for the
increase in Commercial permits were projects at the
two City hospitals and the construction of a senior
citizen's apartment complex.
During the current year Thorngate Ltd., a high-end
men's clothing manufacturer, ceased operations at its
Cape Girardeau plant. As a result 310 jobs were lost.
However, the Cape Girardeau County preliminary
unadjusted unemployment rate was only 6.5% in
October 2009.This compares favorably with the
preliminary statewide and national unadjusted
unemployment rates which were of 8.9% and 9.6%
respectively. The unemployment rates were 4.7% and
CITY OF CAPE GIRARDEAU, MISSOURI
6.3% for the county and state respectively for the
previous October
Taxable sales subject to the City's general sales
tax declined 1.56% during the current year. Since
the City is heavily dependent on sales tax
revenue for support of its general fund services,
slowed growth of local retail sales can have a
significant impact on the City's ability to fund
services in the future.
The state Hancock Amendment requires the City
obtain simple majority voter approval to increase
any permit or license fee that is not based on
actual costs to the user and strictly limits the
City's ability to increase its real estate and
personal property tax levies to support its general
services such as police and fire protection. The
City Charter requires voter approval to increase
sewer, water, and solid waste fees by more than
5% in any year. All other user fees can be
adjusted to cover actual costs_
Stanrtant economy. Sales tax is a significant
revenue source of the City and is a barometer of
the local economy. In the current year sales tax
revenue from the general sales tax decreased
1.6% while inflation grew at 1.9%. In the
previous year sales tax revenue from the general
sales tax increased .6% while inflation grew at
3.5 %. General sales tax revenue growth was flat
during the first five months of the current 2010
fiscal year.
The City's restaurant and hotel/motel gross
receipt taxes increased 3.2% and 2.0%,
respectively, this year. In the previous year they
increased 5.4% and 3.9%, respectively.
Regional retail center. Through most of the
1990's Cape Girardeau continued to be a
regional retail center for much of Southeast
Missouri and Southern Illinois. During the latter
part of the 1990's Cape Girardeau began to lose
its share of the retail market to other cities in the
region as these cities added additional retail
outlets in their communities.
The previous table, which includes the City of Cape
Girardeau and significant retail centers within a 50
mile radius. shows the percentage of estimated sales
made by each City to the total estimated sales of the
five cities. Since the fiscal year ending June 30, 2006
the City's share of the local market has increased
slightly.
Local Economic Development. Since 2004 the City
has entered into 3 long-term development agreements
to reimburse companies for the public improvements
associated with 3 retail development projects from
the additional sales tax generated from those projects.
The agreements have resulted in the addition of one
major new retailer, the relocation and expansion of
another major retailer, and in the conversion of a
former Sears's facility into a call center for National
Asset Recover Services (MARS).
Payment made by the City pursuant to these
agreements totaled $211,279 during the current year.
Payments totaling $641.830 have been made since
the beginning of these agreements.
During the year the City spent $61.433 is support of
Cape Girardeau Area Magnet, as a result of their
membership in that organization. This organization
actively solicits business, industry and commerce for
the greater Cape Gu-ardeau area which includes
neighboring cities Jackson and Scott City and all of
Cape Girardeau County.
Budeet for fiscal vear ending June 30.2010 and
financial condition. In April of 2008 the citizens
passed a''/�%parks / storm water sales tax which
became effective October 1, 2008. 25% of the new
sales tax is being used for parks and storm water
operating expenses. The adopted general fund budget
for the fiscal year ending June 30, 2010, which
includes the total impact of the new sales tax, was
projected to produce a S336,436 surplus to help
increase the City's unrestricted general fund balance
and provide a cushion against a further economic
slow down.
The adopted general fund budget included no wage
increases and included projected revenue based on
conservative revenue assumptions. The approved
general fund budget projected adequate revenue to
cover its projected personnel and operating costs and
S 136,917 in capital costs.
The current budget's health costs appear to have
stabilized as a result of a change to a more consumer
based health coverage beginning January 1, 2008.
Charges required to fund maximum estimated claims
SALES TAX COMPARISON
FY06
FY07
FY08
FY09
Cape Girardeau
40.6%
40.9%
41.20/
41.1%
Carbondale
29.0%
28.4%
28.6%
27.7%
Jackson
9.9%
10.2%
9.9%
9.9%
Perryville
7.0%
7.1%
7.1%
7.4%
Sikeston
13.5%
13.4%
13.2%
13.9%
100.0%
100.0%
100.0%
100.0%
The previous table, which includes the City of Cape
Girardeau and significant retail centers within a 50
mile radius. shows the percentage of estimated sales
made by each City to the total estimated sales of the
five cities. Since the fiscal year ending June 30, 2006
the City's share of the local market has increased
slightly.
Local Economic Development. Since 2004 the City
has entered into 3 long-term development agreements
to reimburse companies for the public improvements
associated with 3 retail development projects from
the additional sales tax generated from those projects.
The agreements have resulted in the addition of one
major new retailer, the relocation and expansion of
another major retailer, and in the conversion of a
former Sears's facility into a call center for National
Asset Recover Services (MARS).
Payment made by the City pursuant to these
agreements totaled $211,279 during the current year.
Payments totaling $641.830 have been made since
the beginning of these agreements.
During the year the City spent $61.433 is support of
Cape Girardeau Area Magnet, as a result of their
membership in that organization. This organization
actively solicits business, industry and commerce for
the greater Cape Gu-ardeau area which includes
neighboring cities Jackson and Scott City and all of
Cape Girardeau County.
Budeet for fiscal vear ending June 30.2010 and
financial condition. In April of 2008 the citizens
passed a''/�%parks / storm water sales tax which
became effective October 1, 2008. 25% of the new
sales tax is being used for parks and storm water
operating expenses. The adopted general fund budget
for the fiscal year ending June 30, 2010, which
includes the total impact of the new sales tax, was
projected to produce a S336,436 surplus to help
increase the City's unrestricted general fund balance
and provide a cushion against a further economic
slow down.
The adopted general fund budget included no wage
increases and included projected revenue based on
conservative revenue assumptions. The approved
general fund budget projected adequate revenue to
cover its projected personnel and operating costs and
S 136,917 in capital costs.
The current budget's health costs appear to have
stabilized as a result of a change to a more consumer
based health coverage beginning January 1, 2008.
Charges required to fund maximum estimated claims
CITY OF CAPE GIRARDEAU, MISSOURI
only increased 6.6% January 1, 2009 and will
only increase 7.1 % on January 1, 2010.
The City's current financial position is good in
that it has more than adequate fund balance to
cover existing claims and potential emergencies.
However, its financial condition or its ability to
provide enough reoccurring revenues to meet its
reoccurring needs is still less than desirable.
Funding of equipment for the general and airport
funds, excluding police, fire, and various park
divisions is still inadequate.
Requests for Information
This financial report is designed to provide a
general overview of the City of Cape Girardeau's
finances for all those with an interest in the
City's finances. Questions concerning any of the
information provided in this report or requests
for additional financial information should be
addressed to the Finance Director. City of Cape
Girardeau, PO Box 617, Cape Girardeau, MO
63702-0617.
IN
BASIC FINANCIAL STATEMENTS
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2009
Primary Government
Governmental
Business -type
Activities
Activities
Total
ASSETS
Cash and cash equivalents
$ 6,744,282.77
$ 428,345.73
$ 7,172,628.50
Investments
37,415,437.30
5,546,054.43
42,961,491.73
Taxes receivable
3,776,401.68
3,776,401.68
Utility charges receivable
-
1,605,861.52
1,605,861.52
Special assessments receivable
915,926.94
127,165.00
1,043,091.94
Interest receivable
212,168.48
1,618.55
213,787.03
Other receivables
173,082.32
2,528.31
175,610.63
Notes receivable
276,014.66
-
276,014.66
Motor fuel receivable
111,264.47
-
111,264.47
Grants receivable
610,150.39
33,195.83
643,346.22
Internal balances
894,775.71
(894,775.71)
-
Inventory
195,233.55
488,454.15
683,687.70
Prepaid items
654,924.36
335,381.19
990,305.55
Restricted cash and cash equivalents
-
3,670,579.19
3,670,579.19
Restricted investments
-
3,211,892.05
3,211,892.05
Land
5,370,111.05
161,989.55
5,532,100.60
Buildings
12,253,179.30
2,204,432.06
14,457,611.36
Other improvements
9,890,277.19
85,769,062.95
95,659,340.14
Equipment
5,902,959.61
3,058,396.31
8,961,355.92
Infrastructure
107,513,635.82
-
107,513,635.82
Construction in process
8,175,806.58
1,270,448.32
9,446,254.90
Total assets
$ 201,085,632.18
$ 107,020,629.43
$ 308,106,261.61
IJ
0
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2009
Primary Government
Governmental
Business -type
Activities
Activities
Total
LIABILITIES
Accounts payable
$ 2,701,605.72
$ 765,010.68
$ 3,466,616.40
Salaries and benefits payable
1,345,692.18
263,425.09
1,609,117.27
Interest payable
690,585.32
511,221.13
1,201,805.45
Other liabilities
197,596.31
520,831.32
718,427.63
Estimated claims
628,500.00
-
628,500.00
Due to other governments
12,491.98
9,385.44
21,877.42
Unearned revenues
50,099.22
-
50,099.22
Deferred revenues
-
4,077.79
4,077.79
Estimated landfill post closure costs
-
52,500.00
52,500.00
Current portion long-term debt:
-
Notes payable
43,395.00
13,875.00
57,270.00
Revenue bonds payable
1,080,000.00
3,695,000.00
4,775,000.00
Certificates of participation payable
135,000.00
-
135,000.00
Leasehold revenue bonds payable
1,790,000.00
-
1,790,000.00
Special obligation bonds payable
800,000.00
184,576.99
984,576.99
Long-term debt net of current portion:
Notes payable
1,273,730.00
444,000.00
1,717,730.00
Revenue bonds payable
16,375,593.64
25,412,985.84
41,788,579.48
Certificates of participation payable
2,100,209.22
2,100,209.22
Leasehold revenue bonds payable
17,932,056.13
-
17,932,056.13
Special obligation bonds payable
5,671,912.85
-
5,671,912.85
Net OPEB Obligaton
816,220.10
113,191.30
929,411.40
Total liabilities
53,644,687.67
31,990,060.58
85,634,768.25
NET ASSETS
Invested in capital assets, net of related debt
119,771,643.71
63,073,426.93
182,845,070.64
Restricted for debt service
246,218.27
1,096,666.67
1,342,884.94
Restricted for depreciation and replacement
-
1,427,000.00
1,427,000.00
Restricted for emergency fund
4,107,607.00
1,774,685.00
5,882,292.00
Restricted for Mausoleum
104,882.80
-
104,882.80
Restricted for River Campus Project
150,920.90
-
150,920.90
Restricted for Local Access Channel
8,578.70
-
8,578.70
Restricted for Operation and Maintenance
4,498.09
-
4,498.09
Unrestricted
23,046,595.04
7,658,770.25
30,705,365.29
Total net assets
$ 147,440,944.51
$ 75,030,548.85
$ 222,471,493.36
City of Cape Girardeau
Statement of Activities
For the Year Ended June 30, 2009
Net (Expense) Revenue and
Program Revenues
Changes In Net Assets
Primary Government
Capital Grants
Charges for
Operating Grants
and
Governmental
Business -type
Functions/Programs
Expenses
Services
and Contributions
Contributions
Activities
Activities
Total
Primary government:
Governmental activities:
Administrative
$ 6,415,924.02
$ 929,489,45
$ 259,862.08
$ 333,016.67
$ (4,893,555.82)
$ - $
(4,893,555.82)
Capital Improvements
632,997.97
-
-
241,034.80
(391,963.17)
-
(391,963.17)
Development Services
2,010,202.14
1,367,517.74
473,121.41
-
(169,562.99)
-
(169,562.99)
Interest and other costs
1,388,445.21
-
-
-
(1,388,445.21)
-
(1,388,445.21)
Parks and Recreation
3,873,940.26
683,408.60
13,579,60
208,196.45
(2,968,755.61)
-
(2,968,755.61)
Public Safety
12,512,215.88
917,250.40
517,737.44
11,557.43
(11,065,670.61)
-
(11,065,670.61)
Public works
6,028,091.10
9,600.00
347,538.94
874,127.83
(4,796,624.33)
-
(4,798,624.33)
Total governmental activities
32,861,816.58
3,907,466.19
1,811,839.47
1,667,933.18
(25,674,577.74)
(25,674,577.74)
N Business -type Activities:
Golf Course
522,989.75
319,832.14
-
-
-
(203,157.61)
(203,157,61)
Sewer
5,495,679.84
3,052,369.67
94,576.86
193,697.76
(2,155,035.55)
(2,155,035.55)
Softball Complex
507,153.83
142,610,08
8.82
14,729.36
-
(349,805.57)
(349,805.57)
Solid Waste
3,146,307.73
3,353,499.54
25,994.57
-
-
233,186.38
233,186.38
Water
5,759,009.16
5,822,350.36
28,725.73
310,913.56
402,980.59
402,980.59
Total business -type activities
15,431,140.31
12,690,661.79
149,305.98
519,340.78
-
(2,071,631.76)
(2,071,831.76)
Total primary government
$ 48,292,9®6.89
$ 16,59®
$ 1,761,145.45
$ 2,187,273.96
(25,674,577.74)
(2,071,831.76)
(27,746,409.50)
Functions/Programs
Primary government:
Governmental activities:
Iv
t1i
City of Cape Girardeau
Statement of Activities
For the Year Ended June 30, 2009
Net (Expense) Revenue and
Program Revenues Changes in Net Assets
Primary Government
Capital Grants
Charges for Operating Grants and Governmental Business -type
Expenses Services and Contributions Contributions Activities Activities Total
General revenues:
Property taxes
Sales taxes
Franchise taxes
Motor fuel taxes
Convention and tourism taxes
Merchant licenses
Liquor licenses
Other taxes
Unrestricted grants and contributions
Unrestricted investment earnings
Gain on sale of assets
Other non-operating revenue
Transfers
Total general revenues
Change in net assets
Net assets - beginning
Prior period adjustment
Net assets - ending
1,944,679.90
1,944,679.90
21,981,846.59
-
21,981,846.59
3,563,962.45
-
3,563,962.45
1,318,120.90
-
1,318,120.90
1,718,951.45
-
1,718,951.45
1,163,490.65
-
1,163,490.65
64,787.50
-
64,787.50
161,100.75
-
161,100.75
60,481.69
-
60,481.69
1,568,312.95
674,570,25
2,242,883.20
3,387.50
68,587.37
71,974.87
34,557.53
174.21
34,731.74
(3,830,833.02)
3,830,833.02
29,752,846.84
4,574,164.85
34,327,011.69
4,078,269.10
2,502,333.09
6,580,602.19
143,378,442.56
72,528,215,76
215,906,656.32
(15,767.15)
(15,767.15)
$ 147,440,944.51
$ 75,030,548.85
$ 222,471.493.36
FUND FINANCIAL STATEMENTS
ASSETS
Current assets:
Cash and cash equivalents
Investments
Receivables -
Real estate taxes, net
Personal property taxes, net
Sales tax
Franchise taxes
Hotel & motel tax
Restaurant tax
Special assessments
t.> Other
w Interest
Motor fuel tax
Vehicle license fees
Motor vehicle sales tax
Grants
Otherfunds
Inventory
Prepaid items
Total Current assets:
Noncurrent assets:
Advances to other funds
Total Noncurrent assets:
Total assets
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2009
Park and
General Airport Recreation
Trans Sales Tax Park Proj from
Trust Fund III Parks Sales Tax
Other
Governmental
Funds
Total
Governmental
Funds
$ 132,923.49
$ 4,665.14
$ 15,571.39
$ 446,666.77
$ 2,635,352.23
$ 3,222,962.11
S 6,458,141.13
1,791,839.98
61,120.37
202,292.18
5,836,967.98
14,576,109.60
10,988,532.94
33,456,863.05
46,867.39
-
-
-
-
14,343.72
61,211.11
11,760.00
-
-
-
-
2,200.24
13,960.24
717,330.87
-
-
344,149.45
-
887,665.56
1,949,145.88
1,601,163.55
-
-
-
-
1,601,163.55
-
-
-
-
56,824.84
56,824.84
-
-
-
-
94,096.06
94,096.06
124,930.15
-
-
-
-
790,996.79
915,926.94
26,765.09
81,868.95
48,367.84
-
-
2,450.69
159,452.57
130,835.87
-
-
-
46,192.69
35,139.92
212,168.48
-
-
-
-
84,298.89
84,298.89
-
-
-
-
12,333.49
12,333.49
-
-
-
-
-
14,632.09
14,632.09
217,436.60
56,832.32
19.51
41,988.07
-
293,583.16
609,859.66
31,376.00
-
-
-
-
31,376.00
127.28
52,941.23
-
-
4,439.34
57,507.85
73,155.60
18,812.09
4,187.00
-
45,019.43
141,174.12
4,906,511.87
276,240.10
270,437.92
6,669,772.27
17,257,654.52
16,549,519.27
45,930,135.95
1,038,195.67
-
-
-
-
-
1,038,195.67
1,038,195.67
-
-
-
-
-
1,038,195.67
$ 5,944,707.54
$ 276,240.10
$ 270,437.92
$ 6,669,772.27
$ 17,257,654.52
$ 16,549,519.27
$ 46,968,331.62
LIABILITIES AND FUND
BALANCES
Current liabilities:
Accounts payable
Salaries and benefits payable
Other liabilities
Due to other governments
Payable to other funds
Unearned revenues
Deferred revenues
Total Current liabilities:
.j, Non current liabilities:
Advances from other funds
Total Non current liabilities:
Total liabilities
Fund balances:
Reserved
Unreserved
Total fund balances
Total liabilities and fund
balances
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2009
Other
Total
Park and
Trans Sales Tax
Park Proj from
Governmental
Governmental
General
Airport
Recreation
Trust Fund III
Parks Sales Tax
Funds
Funds
$ 285,528.90
$ 118,303.52
$ 69,780.26
$ 289,634.99
$ 500,723.84
$ 975,682.82
S 2,239,654.33
361,767.39
19,235.81
78,073.39
-
-
3,794.33
462,870.92
118,196.35
47,317.82
30,698.69
-
-
1,295.83
197,508.69
-
-
-
-
-
2,206.64
2,206.64
-
-
-
-
-
31,376.00
31,376.00
15,000.00
1,540.00
33,559.22
-
50,099.22
200,637.79
-
-
-
-
919,198.93
1,119,836.72
981,130.43
186,397.15
212,111.56
289,634.99
500,723.84
1,933,554.55
4,103,552.52
500,723.84
1,933,554.55
4,103,552.52
212,111.56
289,634.99
186,397.15
981,130.43
4,440,876.76
25,809.09
25,732.22
5,365,778.86
3,022,451.83
4,287,569.71
17,168,218.47
522,700.35
64,033.86
32,594.14
1,014,358.42
13,734,478.85
10,328,395.01
25,696,560.63
4,963,577.11
89,842.95
58,326.36
6,380,137.28
16,756,930.68
14,615,964.72
42,864,779.10
$ 5,944,707.54
$ 276,240.10
$ 270,437.92
$ 6,669,772.27
$ 17,257,654.52
$ 16,549,519.27
$ 46,968,331.62
tv
U1
City of Cape Girardeau
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Assets
For the Year Ended June 30, 2009
Fund balances of governmental funds
Amounts reported for governmental activities in the statement of net assets
are different because:
Long-term liabilities, including bonds payable, are not due and payable in the current
period and therefore are not reported in the funds.
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds, net of accumulated depreciation of
$55,533,201.88.
Internal service funds are used by management to charge the costs of management
information systems, fleet management, employee fringe benefits, workmen's
compensation, and equipment replacement to individual funds.
Other long-term assets are not available to pay for current -period expenditures and,
therefore are deferred in the funds.
Other accrued expenses which are not payable from current -period revenues
are included in governmental activities in the statement of net assets.
Net assets of governmental activities
$ 42,864,779.10
(47,245,393.83)
147,522,708.20
4,703,313.74
1,119,836.72
(1,524,299.42)
$ 147,440,944.51
Iv
01
City of Cape Girardeau
Statement of Revenues, Expenditures, and Changes In Fund Balances
Governmental Funds
For the Year Ended June 30, 2009
Other
Total
Parc and
Trans Sales Tax
Park Projects from
Governments]
Governmental
General
Airport
Recreation
Trust Fund III
Parks Sales Tax
Funds
Funds
REVENUES
Taxes
$ 13,963,653.14
$
$ $
4,105,410.01
$
$ 11,271,845.31
S 29,400,914.46
Licenses d permits
1,400,412.28
4,847.00
1,405,059.28
Intergovernmental
1,106,342.67
475,556.82
28.96
905.55
2,238,112.42
3,820,946,42
Charges for services
328,233.97
253,799.10
607,771.19
-
1,189,804.32
Internal charges
1,094,301.23
-
1,094,301.23
Fines and forfeits
708,203.03
780,203.83
Miscellaneous
286,890.53
172,746.18
15,594.85
-
93,016.92
568,248.48
Investment revenue
142,778.98
1,884.34
6,577.94
360,756.33
52,368.26
781,556.34
1,345,922.19
Special assessments
10,979.50
-
219,704.27
230,683.77
Total revenues
19,121,790.13
903,988.50
029,972.94
4,527,077,89
52,368.20
14,608,082.26
39,844,083.98
EXPENDITURES
Current:
Administrative
3,174,061.88
1,198,938.41
-
1,823,107.87
6,194,108.18
Development Services
1,339,536.31
63,630.16
-
568,891.36
1,972,057.83
Parks and Recreation
1,580,430.47
1,618,260.48
-
21,763.36
3,220,454.33
Public Safety
11,059,433.70
-
402,835.97
11,462,269.67
Public Works
2,045,726.02
1,903.00
2,047,689.02
Debt Service:
Administrative charges
470.25
-
-
-
00,729.21
61,199.46
Interest
96.011,88
0,904.07
987.27
5.525.04
1,036,101.01
1.145,590.07
Issuance cost
-
-
-
206,728.14
9,344.87
216,073,01
Principal
103,492.65
38,315.30
-
-
1,930,100.00
2,077,908.15
Capital ou0ay
209,670.50
102,754.07
13,213,60
5,458,300.34
1,904,281.63
7,818,290.44
15,586,511.58
Total expenditures
19,608,833.88
1,404,972.65
1,632,461.55
5,521,930.50
2,138,298.19
13,857,364.53
43,963,861.28
Excess (deficiency) of
revenues over
expenditures
(487,037.73)
(500,986.15)
(1,002,488.81)
(994,852.61)
(2,085,919.93)
951,517.73
(4,119,777.30)
OTHER FINANCING
SOURCES (USES)
Transfers out
(4,092,199.68)
(254,235.40)
(835,831.61)
(10,060,015.91)
(15,242,882.60)
Transfers In
4,330,912.15
694,270.82
1.017,834.36
325,000.00
792,530.35
5,178,479,11
12,339,032,79
Bond proceeds
-
18,886,458.87
976,580.18
19,863,039.05
Assetdisposi0on
3,387.50
-
-
-
-
-
3,387.50
Other nonoperation revenue
28,546.99
0,008.54
34,557.53
Total other financing
sources and uses
270,648.96
448,049.90
1.017,634.30
325,000.00
16,843,157.61
(3.905,556.62)
16,997,134.27
Net Change In fund
balances
(216,388.77)
(54,930.19)
15,345.75
(669,852.61)
16.757,227.68
(2,954,036.89)
12,877,356.97
Fundbalances- beginning
5,189,680.41
150,831.75
42,980.61
7,049,989.89
(297.00)
17,570,003.62
30,003,169.28
Prior period adjustment
(9,714.53)
(6,052.61)
(0.01)
(15,767.15)
Fund balances - ending
S 4,963,577.11
$ 89,842.95
$ 58,326.36 $
6,380,137.28
$ 16,758,930.68
$ 14,615,964.72
$ 42,864,779.10
City of Cape Girardeau
Reconciliation of the Statement of Revenues, Expenditures,
and Changes in Fund Balances of Governmental Funds to the Statement of Activities
For the Year Ended June 30, 2009
Net change In fund balances -total governmental funds
$ 12,877,350.97
Amounts reported for governmental activiVes In the statement of activities
are different because:
Reductions of debt are reported in the fund financial
(17,563,550.20)
statements as an expense but are not Included in the
government wide statement of activities.
Governmental fund report capital oulays as expenditures.
9,400,251.36
However, In the statement of activities, the cost of those
assets are allocated over their estimated useful lives and
reported as depreciation expense. This Is the amount by
which depredation expense exceeded capital outlays in
the current period.
Internal service funds are used by management to charge
464,208.32
the costs of management information systems, fleet
management, employee fringe benefits, workmen's
compensation, and equipment replacement to Individual
funds.
N Other long-term assets are not available to pay for current- (219,997.46)
J
period expenditures and, therefore are defeffed In the
funds.
Some expenses reported In the statement of activities do not
require the use of current financial resources and, therefore,
are not reported as expenditures in governmental funds.
(939,999.67)
Change in net assets of governmental activities $ 4,078,269.10
ASSETS
Current assets:
Cash and cash equivalents
Investments
Utilities charges, net
Special assessments
Other
Notes receivable
Interest
Grants
Inventory
Prepaid items
Total Currents assets:
Iv
00
Noncurrent assets:
Rest Cash and Cash Equivalents
Rest Investments
Land
Buildings
Equipment
Other improvements
Construction in progress
Accumulated depreciation
Total Noncurrent assets:
Total assets
Sewer
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 30, 2009
Business -type Activities - Enterprise Funds
Total Gov. Activities
Proprietary Internal Service
Water Solid Waste Golf Course Softball Complex Funds Funds
$ 126,262.41
$ 188,791.93
$ 103,974.90
$ 3,618.45
1,625,811.09
2,449,021.48
1,350,089.39
47,363.76
434,350.98
800,536.44
370,974.10
-
95,760.39
31,404.61
-
1,221.27
1,208.49
48.55
289.32
1,329.23
-
-
23,951.36
5,507.13
3,109.84
606.47
-
473,205.77
-
4,024.82
131,710.29
200,757.32
2,705.24
208.34
2,439,357.11
4,151,762.40
1,830,902,02
55,821.84
3,489,589.00
180,815.30
174.89
133,497.43
3,073,810.38
4,584.24
-
49,750.00
-
112,239.55
-
8,078,346.00
174,311.63
1,051,146.72
140,253.00
3,218,572.28
1,786,663.50
1,890,639.64
243,318.43
69,488,656.43
46,296,781.89
333,132.92
551,268.84
86,245.31
1,184,203.01
-
-
(28,520,293.59)
(10,644,920.80)
(2,402,101.17)
(740,385.46)
56,024,362.86
42,051,664.91
989,816.79
194,454.81
$ 58,463,719.97
$ 46,203,427.31
$ 2,820,718.81
$ 250,276.65
$ 5,698.04
73,768.71
50.00
21.03
11,223.56
90,761.34
48,400.97
131,955.22
26,592.57
(120,447.70)
86,501.06
$ 177,262.40
$ 428,345.73
5,546,054.43
1,605,861.52
127,165.00
2,528.31
1,618.55
33,195.83
488,454.15
335,381.19
8,568,604.71
3,670,579.19
3,211,892.05
161,989.55
9,492,458.32
7,271,149.07
116,696,432.65
1,270,448.32
(42,428,148.72)
99,346,800.43
$ 107,915,405.14
$ 286,141.64
3,958,574.25
13,629.75
276,014.66
290.73
137,725.70
98,863.02
4,771,239.75
37,500.00
46,224.45
4,009,128.53
155,653.19
(2,665,244.82)
1,583,261.35
$ 6,354,501.10
LIABILITIES
Current liabilities:
Accounts payable
Salaries and benefits payable
Interest payable
Other liabilities
Estimated claims payable
Due to other governments
Deferred revenues
Payable to other funds
Advances from other funds
Notes Payable
Revenue bonds payable
N Special oblig bonds payable
Total Current liabilities:
Noncurrent liabilities:
Net OPEB Obligation
Advances from other funds
Notes Payable
Revenue bonds payable
Special oblig bonds payable
Est landfill post closure cost
Total Non current liabilities:
Total liabilities
Sewer
$ 194,095.23
103,614.77
450,522.85
217,980.71
2,332.29
4,077.79
6,750.00
2,805,000.00
89,009.21
3,873,382.85
54,071.93
216,000.00
21,778,874.80
22,048,946.73
25,922,329.58
$ 421,130.38
9,154.60
60,332.06
199,438.71
7,053.15
890,000.00
56,705.49
1,643,814.39
7,996.39
3,634,111.04
3,642,107.43
5,285,921.82
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 30, 2009
Business -type Activities - Enterprise Funds
$ 110,334.57
$ 6,777.49
67,810.91
35,857.17
366.22
-
96,306.60
7,105.30
7,125.00
-
38,862.29
-
320,805.59
49,739.96
38,972.13
9,222.51
620,000.00
243,257.52
228,000.00
-
52,500.00
-
939,472.13
252,480.03
1,260,277.72
302,219.99
NET ASSETS
Invested in capital assets, net of related
27,663,458.44
34,413,744.06
715,268.56 194,454.81
Restricted for debt service
-
1,096,666.67
- -
Restricted for depr and replacement
127,000.00
1,300,000.00
-
Restricted for emergency fund
451,224.00
855,118.00
468,343.00 -
Unrestricted
4,299,707.95
3,251,976.76
376,829.53 (246,398.15)
Total net assets
$ 321541,390.39
$ 40,917,505.49
$ 1,560,441.09 $ (51,943,34)
Adjustments to reflect the consolidation of internal service fund activities related to enterprise funds' net assets of business -type activities
Softball Complex
—
$ 32,673.01
46,987.64
79,660.65
2,928.34
174,938.15
177,866.49
257,527.14
86,501.06
(166,765.80)
$ (80,264.74)
Total Gov. Activities
Proprietary Internal Service
Funds Funds
$ 765,010.68
263,425.09
511,221.13
520,831.32
9,385.44
4,077.79
13,875.00
3,695,000.00
184,576.99
5,967,403.44
113,191.30
1,038,195.67
444,000.00
25,412,985.84
52,500.00
27,060,872.81
33,028,276.25
63,073,426.93
1,096,666.67
1,427,000.00
1,774,685.00
7,515,350.29
74,887,128.89
143,419.96
$ 75,030,548.85
$ 461,951.39
48,621.74
485.42
87.62
628,500.00
4,875.00
45,000.00
1,189, 521.17
40,680.84
156,000.00
121,565.39
318,246.23
1,507,767.40
1,258,954.60
3,587,779.10
$ 4,846,733.70
City of Cape Girardeau
Statement of Revenues, Expenses, and Changes In Fund Net Assets
Proprietary Funds
For the Year Ended June 30, 2009
Total
Gov. Activities
Proprietary
Internal Service
Sewer
Water
Solid Waste
Golf Course
Softball Complex
Funds
Funds
Operating revenues:
Residential charges
$ 1,800,536.72
$ 3,308,780.50
$ 2,098,922.17
$
$
$ 7,208,239.39
$
Commercial charges
1,129,678.98
2,327,425.03
30,154.39
-
-
3,487,258.40
Transfer station charges
-
1,104,171.71
-
1,104,171.71
Other fees and charges
42,889.17
169,260.45
86,542.39
298,472.01
Concession revenues
-
-
-
17,392.42
45,712.58
63,105.00
Equipment sales
-
-
7,583,75
6,597.50
14,181.25
-
Intemal charges
-
-
-
-
-
-
4,990,790.38
Usage fees
-
-
-
295,596.40
82,620.31
378,216.71
-
Miscellaneous
11,344.80
10,884.38
33,708.88
71679.69
69,617.75
1,893,06
Total operating revenues
2,984,229.67
5,822,350.36
3,353,499.54
320,572.57
142,610.08
12,023,262.22
4,992,683.44
Operating expenses:
Personnel services
1,633,160.22
137,677.77
1,271,648.89
354,107.48
372,070.48
3,768,664.84
778,358.53
Materials & supplies
422,251.56
1,044,938.83
121,298.01
49,982.32
74,982.54
1,713,451.26
311,971.94
Contractual services
241,427.45
2,531,430.34
1,256,040.27
16,895.77
13,432.08
4,059,225.91
3,165,811.55
General operating expenses
50,248.88
174,950.00
41,234.68
8,601.65
1,122.26
276,157.47
33,904.41
Special programs
178,735.59
134,081.70
92,369.75
4,938.59
5,146.52
415,272.15
Internal service expenses
180,879.10
108,498,33
196,109.66
37,893.85
24,210.46
545,591.40
2,681.00
V�
O Depreciation
2,093,634.95
1369,651.99
162,007.58
44,715.79
11,598.37
3,681,568.68
271,187.99
Total operating expenses
4,000,337.75
5,499,128.96
3,140,788.84
517,135.45
502,562.71
14,459,931.71
4,563,713.42
Operating Income (loss)
(1,816,108.08)
323,221.40
212,732.70
(196,562.88)
(359,952.63)
(1,838,889.49)
428,970.02
Nonoperating revenues (expenses)
Intergovernmental
122,154.98
31,855.68
25,994.57
-
8.82
180,014.05
92.85
Investment revenue
268,624.31
327,480.58
73,998.52
3,115.27
1,351.57
674,570.25
222,390.76
Gain from sale of asset
18,640.37
-
-
49,210.00
737.00
68,587.37
-
Other non-operating revenue
174.21
-
-
174.21
8,817.72
Interest and other charges
(702,246.70)
(249,309.22)
(36,121.63)
(13,556.27)
(9,500.00)
(1,010,733.82)
(10,341.82)
Issuance cost amortization
(29,523.02)
(22,278.08)
82.13
(51,718.95)
(880.45)
Total nonoperating revenues (expenses)
322,175.85)
87,748.98
63,953.59
38,769.00
(7,402.61)
(139,106.89)
218,299.06
Income (loss) before contdbullons and transfers
(2,138,283.93)
410,970.38
276,686.29
(157,793.88)
(367,355.24)
(1,975,776.38)
647,269.08
Contributed capital - conned fee
08,140.00
-
-
-
68,140.00
-
Contributed capital - developers
166,119.64
307,783.71
-
-
-
473,903.35
Contributed capital - donations
-
-
-
14,729.30
14,729.36
Contributed capital - government
-
834,428.19
-
834,426.19
-
Transfers In
2,382,840.35
128,000.00
-
128,310.60
373,160.88
3,012,111.83
7,705.00
Transfers out
(5,000.00)
(500.00)
(10,205.00)
(15,705.00)
(100,282.02)
Change in net assets
473,816.06
1,060,680.28
266,481.29
(29,483.28)
20,535.00
2,411,629,35
554,712.06
Total net assets — beginning
32,067,774.33
39,236,825.21
1,293,959.80
(22,460.06)
(100,799.74)
72,475,299.54
4,292,021.64
Total net assets — ending
$ 32,541,390.39
$ 406917,505.49
$ 1,560,441.09
S 16943.341(
80,264.741
$ 74,887,128.89
$ 4,846,733.70
Adjustments to reflect the consolidation of Internal service fund activities related
to enterprise funds.
90,503.74
Change In net assets of business -type activities.
$ 2,502,333.09
City of Cape Girardeau
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2009
Business -type Activities - Enterprise Funds
Softball
Sewer Water Solid Waste Golf Course Complex
CASH FLOWS FROM OPERATING ACTIVITIES
$ 3,243,207.51
Receipts from customers
$ 2,949,900.03
Receipts from interfund services
-
Other receipts
23,910.59
Payments to suppliers
(876,916.76)
Payments for salaries and benefits
(1,585,907.03)
Payments for interfund services used
(182.416.76)
Payments made in lieu of franchise taxes
-
Remittance of taxes collected from customers
(15,488.91)
Net cash provided (used) by operating activities
312,796.36
w
(174,625.65)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers from other funds
172,379.35
Transfers to other funds
(5,000.00)
Advance repayment to other funds
(3,649,061.17)
Interest paid to other funds
-
Subsidy from federal grant
121,581.26
Subsidy from local grant
-
Nel cash (used) by noncapital financing
209,960.01
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Capital contributions
131,125.47
Principal received on promissory note
Interest received on promissory note
-
Proceeds from sales of capital assets
81,221.21
Purchase of capital assets
(382,998.47)
Acquisition and construction of capital assets
(665,625.47)
Principal paid on capital debt
(2,293,733.98)
Interest paid on capital debt
(1,214,976.12)
Transfers out for capital acquisitions
-
Transfers in for payment of capital related debt
2,210,201.00
Net cash (used) by capital and related financing
7,705.00
activities
(2,134,728.38)
Government
Total Activities
Proprietary Internal Service
Funds Funds
$ 6,949,597,11
$ 3,243,207.51
$ 363,160.02
$ 201,523.34
$ 12,708,126.01
$ 116,282,90
30,154.30
-
30,154.39
4,073,139,00
23,916.59
1,093.00
(3,815,903.27)
(1,484,505.09)
(132,439.37)
(174,625.65)
(6,484,530.14)
(3,042,503.04)
(127,729.55)
(1,233,169.74)
(340,468.40)
(361,787.65)
(3,649,061.17)
(736,047.25)
(66,141.33)
(196,109.86)
(39,509.65)
(24,210.46)
(508,388.06)
(3,490.00)
(142,947.81)
-
-
(142,947.81)
(234,274.77)
-
-
(249,781.68)
1,502,510.38
359,557.41
(149,255.00)
(350,100.42)
1,727,508.13
1,207,275,05
128,000.00
-
128,310.60
309,459.54
730,149.49
7,705.00
(500.00)
(10,205.00)
63,701.34
47,996.34
(14,999.02)
-
(24,192.72)
(15,061.85)
(39,254.57)
-
(29,586.05)
(13,556.27)
(9,500.00)
(52,642.32)
-
31,739.93
18,041.85
7.79
171,970.83
2,153.10
-
17,142,35
-
-
17,142.35
159,239.93
(4,000,05)
90,561.61
348,606.82
883,362.12
(5,140.92)
19,215,23
-
-
150,340,70
14.02
-
4,026.77
-
13,403.30
49,210.00
737.00
131,166.21
150,769.95
(255,510.08)
(45,610.39)
-
(684,124,94)
(898,117.71)
(257,989.11)
-
-
-
(923,614.58)
(919,820.72)
(55,425.30)
-
(3,208,980,00)
(64,750.00)
(215,594.45)
(0,684.87)
-
(1,437,255.44)
(10,687.07)
-
-
(05,203.00)
-
2,210,201.00
-
(1,629,705.13)
(107,720.56)
49,210.00
737.00
(3,822,205.05)
(090,003.74)
City of Cape Girardeau
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2009
Business -type Activities - Enterprise Funds
Government
Total
Activities
Softball
Proprietary
Internal Service
Sewer
Water
Solid Waste Golf Course
Complex
Funds
Funds
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
247,673.01
271,805.11
59,754.15 2,551.47
1,090.82
582,874.56
172,535.88
Net change in pooled investments
(21,237,71)
(240,180.97)
(260,044.66) 7,707.08
6,711.55
(507,044.71)
(398,697.19)
Proceeds from sales and maturities of Investments
202,000.00
730,000.00
932,000.00
350,000.00
Purchase of investments
-
(720,715.00)
-
(720,715.00)
(323,239.00)
Net cash provided by investing activities
428,435.30
40,909.14
(200,290.51) 10,256.55
7,802.37
287,114.65
(199,600.31)
Net Increase (decrease) in cash and cash
equivalents
(1,104,534.09)
132,954.32
47,539.49 774.56
(954.23)
(924,219.95)
112,530.68
Balances - beginning of year
4,720,385.50
238,652.91
56,610.30 2,843.89
6,652.27
5,023,144.87
173,610.96
Balances - end of the year
$ 3,615,851.41
$ 369,607.23 $
104,149.79 $ 3,619.45
$ 5,698.04
$ 4,098,924.92
$ 286,141.84
UJ
Reconciliation of operating Income (lose) to net cash provided (used) by operating activities:
Operating income (loss)
$ (1,810,108.08)
$ 323,221.40 $
212,732.70 $ (190,582.88)
$ (359,952.63)
$ (1,636,609,49)
$ 428,970.02
Adjustments to reconcile operating income to net
cash provided (used) by operating activities:
Depredation expense
2,093,834.95
1,369,551.99
162,087.58 44,715.78
11,598.37
3,681,568.58
271,187.99
Changes in assets and liabilities:
Accounts payable - supplier
(9,734.64)
(7,026,75)
(2,079.28) (10,140,96)
(18,571.45)
(48,153.09)
488,093.09
Accounts payable - other
31,563.20
6,474.16
4,623.52 (818,50)
42,042.38
-
Salaries & benefits payable
47,252.39
9,948.22
38,479,15 13,116.08
10,282.63
119,078.67
40,309.28
Customer receivables
(33,373.76)
(82,472.80)
(55,615,57) 30,50
(50.00)
(171,481.69)
(1,367.60)
Other operating receivables
-
-
-
(6,454.41)
Prepaid expenses
(437.70)
2,502,82
(050.60) 3,67
1,278.10
(65,470.55)
Inventory
-
(59,140.59)
400.70
(1,407.54)
(60,155.43)
52,015.13
Net cash provided by operating activities
$ 312,796.38
$ 1,562,510.38 $
359,557.41 $ (149,255.60)
$ (358,100.42)
$ 1,727,508.13
$ 1,207,275.65
w
w
City of Cape Girardeau
Statement of Net Assets
Fiduciary Funds
For the Year Ended June 30, 2009
Agency
Funds
ASSETS
Cash and cash equivalents
$ 88,056.80
3,487,800.37
Investments
45,079.03
Real estate taxes
12,561.79
Personal property taxes
40.94
Other
Total assets
$ 3,633,540.93
LIABILITIES
Accounts payable $ 91,157.05
Salaries and benefits payable '14
Other liabilities 3,52222,,429429.74
Total Liabilities $ 3,633,540.93
City of Cape Girardeau. Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Cape Girardeau, Missouri (the City) operates under a charter, which went into effect April 12,
1982. The City operates under a Council -Manager form of government and provides the following services
as authorized by its charter: public safety (police and fire), highways and streets, water, sanitation, health
and social services, culture -recreation, public improvement, planning and zoning, and general
administrative services.
The financial statements of the City have been prepared in conformity with generally accepted accounting
principles (GAAP), as applied to government units. The Governmental Accounting Standards Board
(GASB) is the accepted standard-setting body for establishing governmental accounting and financial
reporting principles. The more significant accounting policies of the City are described below.
1. Reporting Entity
In evaluating how to define the City, for financial reporting purposes, management has considered all
potential component units. Generally, component units are legally separate organizations for which the
elected officials of the City are financially accountable. The Cape Girardeau (Missouri) Public Facilities
Authority (CGPFA) is a blended component unit of the City. For the year ended June 30, 2009, the CGPFA
had no assets, liabilities, revenues, or expenses.
Although not a component unit of the City, the City handles the funds of and provides accounting and other
services for several entities. Since these funds are held by the City, these entities are shown as Agency
Funds in the financial statements.
2. Government -Wide and Fund Financial Statements
The government -wide financial statements (i.e., the statement of net assets and the statement of activities)
report information on all of the nonfiduciary activities of the primary government and its component units.
The effect of interfund activity has been removed from these statements. Governmental activities, which
normally are supported by taxes and intergovernmental revenues, are reported separately from business -
type activities, which rely to a significant extent on fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or
segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a
specific function or segment. Program revenues include 1) charges to customers or applicants who
purchase, use, or directly benefit from goods, services, or privileges provided by a given function or
segment and 2) grants and contributions that are restricted to meeting the operational or capital
requirements of a particular function or segment. Taxes and other items not properly included among
program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds. proprietary funds, and fiduciary funds..
even though the latter are excluded from the government -wide financial statements. Major individual
governmental funds and major individual enterprise funds are reported as separate columns in the fund
financial statements.
34
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus. Basis of Accountine. and Financial Statement Presentation
The government -wide financial statements are reported using the economic resources measurement focus
and the accrual basis ofaccounting, as are the proprietary fund financial statements. Revenues are recorded
when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash
flows. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by
the provider have been met. With the economic resources measurement focus, all assets and liabilities
associated with operations are reflected in the statement of net assets.
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting. Under the modified accrual basis, revenues are
recognized as soon as they are both measurable and available. Revenues are considered to be available
when they are collectible within the current period or soon enough thereafter to pay liabilities of the current
period. For this purpose, the City considers revenues to be available if they are collected within 30 days of
the end of the current fiscal period. Expenditures Generally are recorded when a liability is incurred, as
under accrual accounting. However, debt service expenditures, as well as expenditures related to
compensated absences and claims and judgments, are recorded only when payment is due. Those revenues
susceptible to accrual are property taxes, franchise taxes, special assessments, licenses, interest revenue,
and charges for services. Sales taxes collected and held by the state at year-end on behalf of the City, also
are recognized as revenue. Fines and permit revenues are not susceptible to accrual because, generally,
they are not measurable until received in cash. With the current financial resources measurement focus,
only current assets and current liabilities are generally included on the balance sheet.
The City reports the following major governmental funds:
The general fund is the City's primary operating fund. It accounts for all financial resources of the
general government, except those required to be accounted for in another fund.
The airport find accounts for the resources used in the operation and maintenance of municipal airport
facilities.
The parks and recreation fund accounts for the resources used in the operation of park and
recreational activities.
The transportation sales tax trust fund III accounts for the receipt and expenditure of a capital
improvement sales tax that was approved by voters for street construction and improvements.
The park improvement projects from parks sales tax fund accounts for the expenditure of a capital
improvement sales tax that was approved by voters for park construction and improvements.
35
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
The City reports the following major proprietary funds:
The sewer fund accounts for the operation of the City's sewage treatment plant, sewage pumping
stations, and collection systems.
The water fund accounts for the operation of the City's water treatment plants and distribution
systems.
The solid waste fund accounts for the operation of the City's residential solid waste and recycling
programs.
The golf fund accounts for the operation of the municipal golf course.
The softball complex fund accounts for the operation of the City's softball complex, and maintenance
of the City's soccer, baseball, and softball fields.
Additionally, the City reports the following fund types:
Internal service funds account for management information systems, fleet management, employee
benefits, workers' compensation, and equipment leasing provided to other departments or agencies of
the City, on a cost reimbursement basis.
Agency funds account for the operations of the library, arena improvement committee, and parks
development foundation.
Private -sector standards of accounting and financial reporting issued prior to December 1, 1989, generally
are followed in both the government -wide and proprietary fund financial statements to the extent that those
standards do not conflict with or contradict guidance of the Governmental Accounting Standards Board.
Governments also have the option of following subsequent private -sector guidance for their business -type
activities and enterprise funds, subject to this same limitation. The City has elected not to follow
subsequent private -sector guidance.
As a general rule the effect of interfund activity has been eliminated from the government -wide financial
statements. Exceptions to this general rule are payments -in -lieu of taxes and other charges between the
City's enterprise function and various other functions of the government. Elimination of these charges
would distort the direct costs and program revenues reported for the variou' functions concerned.
It is the City's policy to first use restricted net assets prior to the use of unrestricted net assets when an
expense is incurred for purposes for which both restricted and unrestricted net assets are available.
36
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30. 2009
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
Amounts reported asprogram revenues include 1) charges to customers or applicants for goods, services,
or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions,
including special assessments. Internally dedicated resources are reported as general revenues rather than
as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the
City's enterprise funds and of the City's internal service funds are charges to customers for sales and
services. Operating expenses for enterprise funds and internal service funds include the cost of sales and
services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meet-
ing this definition are reported as nonoperating revenues and expenses.
4. Capital Assets
All capital assets with an original cost exceeding $5,000 are recorded at historical cost or estimated
historical cost if actual historical cost is not available. Additions are recorded at cost or, if contributed
property, at their estimated fair value at time of contribution. Repairs and maintenance are recorded as
expenses; renewals and betterments are capitalized. The sale or disposal of capital assets is recorded by
removing cost and accumulated depreciation and charging the resulting gain or loss to income.
Depreciation of all exhaustible capital assets is charged as an expense against operations in proprietary
funds and a program cost of governmental activities in the statement of activities. Assets are reported net
of depreciation on proprietary fund and government -wide statement of net assets. 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 10-40 years
Equipment 3-10 years
When applicable, interest costs are capitalized on self -constructed capital assets.
5. Encumbrances
Encumbrances represent commitments related to unperformed contracts for goods or services.
Encumbrance accounting is utilized in all funds. Encumbrances outstanding at the end of the year in the
governmental fiends are reported as reservations of fund balances and do not constitute expenditures or
liabilities because the commitments will be carried forward and honored during the subsequent year.
Encumbrances outstanding in the proprietary funds do not constitute expenses but will be honored in the
subsequent year. No reservations of net assets are made for encumbrances outstanding at the end of the
year on the proprietary fund and government -wide statement of net assets.
37
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
6. Inventories
Inventories consist primarily of supplies, valued at cost. The cost of inventories is recorded as expenditures
or expenses when consumed rather than when purchased.
7. Compensated Absences
Vested or accumulated vacation pay for proprietary funds is recorded as an expense and liability of those
funds as the benefits accrue to employees. Amounts of vested or accumulated vacation leave of
governmental funds are reported in the Statement ofNet Assets. Employees may accumulate up to 30 days
vacation, for which they are compensated upon termination or retirement. Employees are not compensated
for accumulated sick leave upon termination, but are compensated one hour for each eight hours of unused
sick leave upon retirement.
8. Bond Premiums, Discounts, and Issuance Costs
In governmental fiend types, bond discounts and issuance costs are recognized in the current period. Bond
discounts and issuance costs for proprietary fund types are deferred and amortized over the tern of the
bonds. Bond premiums and discounts are presented as either increases or reductions of the face amount of
bonds payable whereas issuance costs are recorded as deferred charges. The accounting treatment of bond
premiums, discounts, and issuance costs used for goverunental activities in the government -wide
statements is the same as that used for proprietary funds.
9. Cash and Investments
The City maintains an internal investment pool for the majority of its non -restricted cash and investments
and a small portion of its restricted cash and investments. Investment revenue is allocated to each fund
based on its average equity balance in the pool.
Cash includes amounts in repurchase agreements and other short-term investments with a maturity date
within three months of the date of purchase.
Investments, with a maturity date of one year or more at the time of purchase, are recorded at fair value. All
other cash and investments are recorded at cost or amortized cost.
10. Prepaid Items
Payments made to vendors for services that will benefit periods beyond June 30, 2009 are recorded as
prepaid items.
38
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
11. Restricted Assets
Certain proceeds of enterprise fund revenue bonds, as well as certain resources set aside for the repayment
of such bonds, are classified as restricted assets on the balance sheet because their use is limited by
applicable bond covenants. The "revenue bond construction" account is used to report those proceeds of
revenue bond issuances that are restricted for use in construction. The "revenue bond current debt service"
account is used to report resources set aside to make up potential future deficiencies in the revenue bond
current debt service account.
12. Lona -Term Obligations
Only that portion of long-term obligations expected to be financed from expendable available financial
resources is reported as a fund liability of a governmental fund. Long-term liabilities expected to be
financed from proprietary fund operations are accounted for in the appropriate proprietary fund. Long-term
liabilities expected to be financed from governmental activities are accounted for in the government -wide
statement of net assets.
13. Interfund Transactions
Quasi -external transactions are accounted for as revenues, expenditures, or expenses. Transactions that
constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly
applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions
of expenditures/expenses in the fund that is reimbursed.
All other interfund transactions, except quasi -external transactions and reimbursements, are reported as
transfers. Only net transfers between governmental and business -type activities are reflected on the
government -wide statement of activities.
14. Short -Term Interfund Receivables/Payables
During the course of operations, numerous transactions occur between individual funds for goods provided
or services rendered. These receivables and payables are classified as "interfund receivables/payables" on
the governmental balance sheet and proprietary statement of net assets. Only net receivables between
governmental and business -type activities are reflected as internal balances on the government -wide
statement of net assets.
15. Advances to Other Funds
Noncurrent portions of long-term interfund loan receivables and payables are reported as advances in the
governmental balance sheet and proprietary statement of net assets. Fund balances are reserved on the
governmental balance sheet for interfand loan receivables to indicate that they do not constitute expendable
available financial resources and therefore are not available for appropriation. Only net long-term interfund
loans between governmental and business -type activities are reflected as internal balances on the
government -wide statement of net assets. Net assets are not reserved for interfund loan receivables on
proprietary and government -wide statements of net assets.
39
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
16. Post -Employment Health Care Benefits
In addition to the pension benefits described in Note G, it is the City's policy to provide postretirement
health care benefits to employees who retire from the City with five or more years of service and who are
eligible for LAGERS retirement (Note G). Currently. forty-five employees meet those eligibility
requirements. The City provides health care coverage for them until age 65. The cost of retirees' health
care benefits is recognized as an expenditure as premiums are paid. For the year ending June 30, 2009,
those costs totaled $460,644.
COBRA Benefits - Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the City
provides health care benefits to eligible former employees and eligible dependents. Certain requirements
are outlined by the federal government for this coverage. The premium is paid in full by the insured on or
before the tenth (10th) day of the month for the actual month covered. This program is offered for a
duration of 18 months after the termination date for employees and 36 months for surviving spouses. There
is no associated cost to the City under this program. There were two surviving spouses participating in the
health insurance program and one surviving spouse participating in the dental insurance program as of June
30, 2009.
17. Infrastructure
The City defines infrastructure as the basic physical assets that allow the City to function. The assets
include the street system, water system, sewer system; parks and recreation lands and improvement system,
storm water system, and buildings combined with the site amenities such as parking and landscaped areas
used by the City in the conduct of its business. Infrastructure of the water and sewer systems were routinely
capitalized in the water and sewer funds of the City and are reflected as other improvements in the
business -type activities section on the statement of activities.
During the year ended June 30, 2009 all infrastructures completed during the fiscal year, including
projects started in a previous year, were recorded at their historical costs.
40
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE B - DEPOSITS AND INVESTMENTS
The City maintains a cash and temporary cash investment pool that is available for use by all funds.
Each fund type's portion of this pool is displayed on the combined statement of assets, liabilities, and
fund balances arising from cash transactions as "Cash and Cash Equivalents" under each fund's
caption. The deposits and investments held at June 30, 2009, and reported at fair value, are as follows:
Deposits:
Demand Deposits
$ 441,106
Interest Bearing Deposit Accounts
10,490,160
Total Deposits
$ 10,931.266
Investments:
Negotiable Instruments
$ 44,068,065
Federal Home Loan Bank
3,249.467
Federal National Mortgage Association
2,015,985
US Treasury Note
327.667
Total Investments
$ 49,661,184
Total Deposits and Investments S 60.592.450
Reconciliation to Statement of Net Assets:
Cash and Cash Equivalents $ 7,172,628
Investments 42,961,492
Restricted Cash and Cash Equivalents 3,670,579
Restricted Investments 3,271,892
Fiduciary Cash and Cash Equivalents 88,059
Fiduciary Investments 3,487,800
Deposits and Investments, Statement of Net Assets $60.592.45Q
As of June 30, 2009, the City had the following investments:
Tnvestment
Negotiable Instruments
Federal Home Loan Bank
Federal National Mortgage Assoc
US Treasury Note
Total
Custodial Credit Risk:
Maturities
07/06/2009 — 05/28/2014
07/10/2009 — 04/04/2013
08/15/2009 — 04/20/2012
11/15/2012
Fair Value
$44,068,065
3,249,467
2,015,985
327,667
$49,661,184
Deposits in financial institutions, reported as components of cash, cash equivalents, and investments,
hada bank balance of $60,592,245 at June 30, 2009, that was fully insured by depository insurance or
secured with collateral held by the City's agents in its naive. All investments, evidenced by individual
securities, are registered in the name of the City.
41
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE B - DEPOSITS AND INVESTMENTS - Continued
Investment Interest Rate Risk
The City's investment policy states that `Market price volatility shall be controlled by matching the
City's investments with anticipated cash flow requirements. The City will not directly invest in
securities maturing more than seven years." The maturities of investments held at June 30, 2009 are
provided above.
Investment Credit Risk
The City has an investment policy that limits its investment choices as follows:
a. Direct obligations of the U.S. Government, its agencies and instrumentalities to which
the full faith and credit of the U.S. Government is pledged, or obligations to the
payment of which the full faith and credit of the State is pledged;
b. Certificates of deposit or savings accounts that are either insured or secured with
acceptable collateral with in-state financial institutions, and fully insured certificates of
deposit or savings accounts in out-of-state financial institutions;
Repurchase agreements collateralized by securities listed in (a.) above, documented by a
written agreement, fully collateralized by delivery to an independent third party
custodian, and are marked -to -market;
d. Money market mutual funds whose portfolio consists of the foregoing instruments: and,
e. Other prudent investment instruments approved prior to purchase by a two-thirds
majority of the City Council. Bond proceeds may be invested as allowed in the bond
indenture.
Concentration of Investment Credit Risk
The City places no limit on the amount it may invest in any one issuer. At June 30, 2009, the City had
no concentration of credit risk.
42
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30. 2009
NOTE C - PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on August 18,
2008, for collection during this fiscal year and were due on or before December 31. Most of the taxes are
collected in November and December. The tax rates assessed at the time were as follows:
General Revenue $ .3030/100.00 assessed valuation
Public Health .0567/100.00 assessed valuation
Special Business District .6763/100.00 assessed valuation
#2 (Ad Valorem)
Property tax receivable balances as of June 30, 2009 are as follows:
NOTE D - CHANGES IN CAPITAL ASSETS
A summary of the capital assets for governmental activities included on the government -wide statement of
net assets for the year ended June 30, 2009 is as follows:
Land
Buildings
Improvements other
than buildings
Equipment
Infrastructure
Construction in progress
Total capital assets
Balance Accumulated Balance
July 1, 2008 Additions Deductions Depreciation June 30, 2009
S 4,948,851 S 421,260 $ S - $ 5,370,111
12,006,556 845,669 599.046 12,253,179
10,438,168
62.127 -
Special
2,912.823 622,503
103,172,322
7,993,117 -
4.250.107
General
Business
Public
Debt
Revenue
District
Health
Service
Total
Current property tax
$52,372
$5.573
$ 9,800
$ -
$67,745
Delinquent property tax
16,212
-
3,035
44
19,291
Reserve for doubtful
Property taxes
(9,957)
-
(1,864)
(44)1(
1.865)
Net property tax receivable
$1,573
1
$-
75 171
NOTE D - CHANGES IN CAPITAL ASSETS
A summary of the capital assets for governmental activities included on the government -wide statement of
net assets for the year ended June 30, 2009 is as follows:
Land
Buildings
Improvements other
than buildings
Equipment
Infrastructure
Construction in progress
Total capital assets
Balance Accumulated Balance
July 1, 2008 Additions Deductions Depreciation June 30, 2009
S 4,948,851 S 421,260 $ S - $ 5,370,111
12,006,556 845,669 599.046 12,253,179
10,438,168
62.127 -
4,367,125
2,912.823 622,503
103,172,322
7,993,117 -
4.250.107
3.927.578 1.878
$ 16.162.574
43
610,018 9,890,277
754.485 5,902,960
1651,803 107, 513,636
- 8,175,807
$ 5.615.352 $ 149.105.970
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE D - CHANGES IN CAPITAL ASSETS - Continued
Additions and deletions to the enterprise funds for the fiscal year 2009 were $3,014,267 and $473,092
respectively. Additions and deletions to the internal service funds were $909,929 and $535,236
respectively.
A summary of the proprietary fund type capital assets included on the proprietary fund statement of net
assets for the year ended .lune 30. 2009 is as follows:
Land
Buildings
Improvements other than building
Equipment
Construction in progress
Less: accumulated depreciation
Enterprise Internal
Fund Service Fund
$ 161,990 $ 37.500
91492,458
46,224
116,696,433
155,653
7,271,149
4,009,129
1,270,448
-
$134,892,478
$ 4,248.506
42,428,149
2.665,245
$ 92.464.329
LL -58-3261
Depreciation expense was charged to functions as follows in the statement of activities:
Governmental Activities:
Administrative
$ 449,760
Development Services
8,521
Parks and Recreation
391,079
Public Safety
759,642
Public Works
3,976,357
Total
5 585
Business-TVDe Activities:
Golf Course
$ 44,716
Sewer
2,093,635
Softball Complex
11,598
Solid Waste
162,068
Water
1,369,552
Total
3 6
44
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERNI OBLIGATIONS
The following is a summary of changes in the long-term debt included on the City's statement of net assets
for the year ended June 30, 2009.
Governmental
Activities
Debt payable July 1, 2008
Premium amortization
Retired
Additions
Debt payable June 30, 2009
Other
Revenue
Debt*
Bonds
$ 11,007,793
$ 18,485,931
(26,251)
(5,337)
(1,390,043)
(1,025,000)
20.154.804
$ 29.746 303
S 27,693
$ 17 455.594
Unused
Due to
Paid
Other
Leave
Governments
Total
$ 783,608
S 27,693
$30,305,025
-
-
(31,588)
( 9,931)
(17,408)
(2,442,382)
20,154,804
S 773,677
5 10,285
$47 985.859
*Other Debt includes Notes Payable, Special Obligation Bonds, Leasehold Revenue Bonds, and Certificates of Participation.
Business -Type
Activities
Bonds payable at
July 1, 2008
Discount Premium
Ainortization
Accumulated Interest
Bonds Retired
Bonds Issued
Bonds payable at
June 30, 2009
Other Revenue
Debt* Bonds Total
$ 864,637 $32,660,905 $33,525,542
565 (20,514) (19,949)
- 460,594 460,594
(222.750) (3,993,000) (4,215,750)
42 452 $29.107.985 $29,750.42
*Other Debt includes Notes Payable and Special Obligation Bonds
45
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG TERM OBLIGATIONS - Continued
Bonds payable for governmental and business -type activities at June 30, 2009 are comprised of the
following individual issues:
$ 805,000 Special Obligation Refunding and Improvement Bonds, Series 2002:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
2010
4.00%
$ 340,000
$ 25,130
2011
4.00
155,000
15,655
2012
4.10
155,000
9.455
2013
4.10
155,000
3,177
$ 805.000 5$ 3.417
Total
$ 365,130
170,655
164,455
158,177
858 417
Principal payments are made annually on October 1. and interest payments are made semi-annually on
October 1 and April 1.
On October 22, 2002 the City of Cape Girardeau issued $3,125,000 of Special Obligation Refunding and
Improvement Bonds Series 2002 with interest rates varying from 3.00% to 4.50%. The bonds are special
obligations of the City payable solely from the income and revenues provided for the year plus any
unencumbered balances from prior years.
The bonds were issued by the City for the purpose of providing funds to (a) pay the costs of refunding the
Building and Equipment Leasehold Refunding and Improvement Revenue Bonds, Series 1993, issued on
behalf of the City by the Cape Girardeau Public Facilities Authority and outstanding in the principal
amount of $1,085,000, (b) pay the costs of refunding the Certificates of Participation (Capital
Improvements Projects), Series 1994A, issued on behalf of the City by the Cape Girardeau Public Facilities
Authority and outstanding in the principal amount of $1,255,000 and prepaying the leasehold interest
represented thereby, (c) pay the costs of constructing certain street improvements within the City, and (d)
pay the costs of issuing the Bonds, under the authority of and in full compliance with the City's Charter and
the Constitution and laws of the State of Missouri, and pursuant to an ordinance duly passed (the
"Ordinance") and proceedings duly and legally had by the governing body of the City.
The outstanding bond liability for the Special Obligation Refiinding and Improvement Bonds Series 2002 is
allocated as follows: $620,000 for Governmental activities and $185,000 for Business -type activities.
46
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
$4,485,000 Waterworks System Refunding Revenue Bonds Series 2006A due as follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
4.00%
$ 890,000
$ 179,400
$1,069,400
2011
4.00
925,000
143,800
1,068,800
2012
4.00
965.000
106,800
1,071,800
2013
4.00
1,705,000
68,200
1,773,200
$4.485.000 $ 498;200 SA.983.200
Principal payments are made annually on March 1, and interest payments are made semi-annually on
March 1 and September 1.
On January 3, 2006 the City issued $7,160,000 of Waterworks System Refunding Revenue Bonds Series
2006A with interest rates varying from 3.5% to 4.0%. The bonds are special limited obligations of the City
payable solely from the net income and revenues derived by the City from the operation of the Waterworks
System after payment of costs of operation and maintenance.
The bonds were issued to provide the City with remaining fiends need to retire $8,170,000 principal amount
of Waterworks System Refunding Revenue Bonds, Series 1995.
47
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 950,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1991 due as
follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
6.875%
$ 165,000
$ 65.312
$ 230,312
2011
6.875
175,000
53,969
228,969
2012
6.875
190,000
41,937
231,937
2013
6.875
205,000
28,875
233,875
2014
6.875
215,000
14,781
229,781
$ 950.000 204 874 $1,154.874
These bonds are dated December 1, 1991. The proceeds of the bond issue were used to extend and improve
the existing sewerage facilities serving the City.
Principal payments are made annually on June 1, and interest payments are made semi-annually on June 1
and December 1.
The interest due on the Series 1991 Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures
from the construction funds held by the trustee, the State of Missouri Department of Natural Resources
deposits an amount equal to approximately 51.907% of the reimbursement into the reserve fund. The
maximum amount of funds that will be advanced to the reserve fund will be $1,250,000. As bonds are
retired 50% of the amount of bonds retired will be repaid to the State of Missouri Department of Natural
Resources out of the reserve fund. The balance of the reserve fund at June 30, 2009 was $475,000. The
reserve fund yields 6.71%.
During the fiscal year-end June 30, 2001, certain bonds originally issued by the State Environmental
Improvement and Energy Resources Authority as part of the State Revolving Fund Program were refunded.
Annual debt service savings resulting from this transaction are to be used to offset City debt service
payments due on Series 1991 Bonds. During the fiscal year ended June 30, 2009, City interest expense was
reduced by $15,305 as a result of this transaction. Over the remaining life of these bonds, the City will
receive net present value benefits of approximately $66,296 from this transaction.
.•
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
205,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1993 due as follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
5.400%
S 30,000
$ 10,260
$ 40,260
2011
5.400
31,000
8,613
39,613
2012
5.400
33,000
6,885
39,885
2013
5.400
35,000
5,049
40,049
2014
5.400
37,000
3,106
40,106
2015
5.400
39,000
1,053
40,053
1 111 •••• •i�
These bonds are dated August 1, 1993. The proceeds of the bond issue were used to extend and improve
the existing sewerage facilities serving the City.
Principal payments are made annually on March 1. and interest payments are made semi-annually on
March 1 and September 1.
The interest due on the Series 1993 Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures
from the construction funds held by the trustee, the State of Missouri Department of Natural Resources
deposits an amount equal to approximately 70% of the reimbursement into the reserve fund. The maximum
amount of funds that will be advanced to the reserve fund will be $350,000. As bonds are retired, 70% of
the amount of bonds retired will be repaid to the State of Missouri Department of Natural Resources out of
the reserve fund. The balance of the reserve fund at June 30, 2009 was $147,197. The reserve fund yields
5.15%.
49
City of Cape Girardeau. Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 3,040,369 Water Pollution Control Revenue Bonds (State Revolving Fund Program) Series 1995D
due as follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
6.050%
$ 722,409
$ 992,591
$ 1,715,000
2011
6.100
413.574
636,426
1,050,000
2012
6.150
380.828
654,172
1,035,000
2013
6.150
354,978
670,022
1,025,000
2014
6.200
326.281
683,719
1,010,000
2015
6.200
303,920
696,080
1,000,000
2016
6.250
278,844
706,156
985.000
2017
6.250
259,535
715,465
975,000
3.040.369 5,754,631 a8.795.000
These bonds are dated June 1, 1995. The proceeds of the bond issue were used for the extension and
improvement of the existing sewerage system serving the City.
Principal and interest payments are made annually on January 1 beginning in 1998.
The interest due on the Series 1995D Water Pollution Control Revenue Bonds is subsidized by interest
earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project
expenditures from the construction funds, the State of Missouri Department of Natural Resources deposits
an amount equal to 70% of the disbursement into the reserve fund. The maximum amount of funds that
will be advanced to the reserve fund will be 70% of the principal amount less the original issue discount.
As bonds are retired 70% of the amount of bonds retired will be repaid to the State of Missouri Department
of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30, 2009 was
$2,128,258. The reserve fund yields 5.83%.
50
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 8,420,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1996 due as follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
5.700%
$ 730,000
$ 494,329
$ 1,224,329
2011
5.875
745,000
452,719
1,197,719
2012
5.875
765,000
408,950
1,173,950
2013
5.875
780,000
364,006
1.144,006
2014
5.875
800,000
318,181
1,118,181
2015
5.875
875,000
271,181
1,146,181
2016
5.900
895.000
2193775
1,114,775
2017
5.900
920.000
166,970
1,086,970
2018
5.900
945,000
112,690
1,057,690
2019
5.900
965.000
56,935
1,021,935
$8,420.000 12, 865 7 36 $11,285,716
These bonds are dated June 1, 1996. The proceeds of the bond issue werc used for the extension and
improvement of the existing sewerage system serving the City.
Principal payments are made annually on January 1. Interest is paid semi-annually on January 1 and July 1
beginning in 1997.
The interest due on the Series 1996 Sewerage System Revenue Bonds is subsidized by interest earnings on
a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures
from the construction funds, the State of Missouri Department of Natural Resources deposits an amount
equal to 70% of the disbursement into the reserve fund. The maximum amount of funds that will be
advanced to the reserve will be $9,474,500. As bonds are retired, 70% of the amount of bonds retired will
be repaid to the Department of Natural Resources out of the reserve fund. The balance of the reserve fund
at June 30, 2009 was $6,061,063. The reserve fund yields 5.70%.
51
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
During the fiscal year ended June 30, 2001, certain bonds originally issued by the State Environmental
Improvement and Energy Resources Authority as part of the State Revolving Fund Program were refunded.
Annual debt service savings resulting from this transaction are to be used to offset City debt service
payments due on Series 1996 Bonds. During the fiscal year ended June 30, 2009, City interest expense was
reduced by $16,329 as a result of this transaction. Over the remaining life of these bonds, the City will
receive net present value benefits of approximately $141,778 from this transaction.
$ 7,805,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 2000 due as
follows:
Year Ending
Interest
Principal
Interest
June 30.
Rate
Due
Due
Total
2010
4.625%
$ 165,000
$ 419.319
$ 584,319
2011
4.700
185,000
411,156
596,156
2012
5.500
215,000
400,896
615,896
2013
5.500
230,000
388,659
618,659
2014
5.000
250;000
376,084
626,084
2015
5.625
275,000
362,099
637,099
2016
5.625
475,000
341,006
816,006
2017
5.625
555,000
312,037
867,037
2018
5.300
590,000
280,793
870,793
2019
5.400
1,590,000
222,228
1.812,228
2020
5.450
1,655,000
134,199
1,789,199
2021
5.500
1,620,000
44,550
1,664,550
$7.805.000 11,693 026 IU.498,026
These bonds are dated November 1, 2000. The proceeds of the bond issue will be used to extend and
improve the existing sewerage facilities serving the City.
Principal payments are made annually on July 1. and interestpayments are made semi-annually on July 1
and January 1.
52
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
The interest due on the Series 2000, Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures
from the construction funds held by the trustee, the State of Missouri Department of Natural Resources
deposits an amount equal to approximately 70% of the reimbursement into the reserve fund. The maximum
amount of funds that will be advanced to the reserve fund will be $5,848,500. As bonds are retired 70% of
the amount of bonds retired will be repaid to the State of Missouri Department of Natural Resources out of
the reserve fund. The balance of the reserve fund at June 30, 2009 was $5,619,605. The reserve fund
yields 5.16%.
$17,455,000 Waterworks System Revenue Bonds (State Revolving Fund Program) Series 1998 due as
follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
4.375%
$ 1,080,000
$ 866,400
$ 1,946,400
2011
5.250
1,110,000
819,150
1,929,150
2012
5.250
1,215,000
760,875
1,975,875
2013
5.250
1,300,000
697,087
1,997,087
2014
5.250
2,350,000
628,838
2.978,838
2015
5.250
2,445,000
505,462
2,950,462
2016
5.250
2,550,000
377,100
2,927,100
2017
4.500
2,655,000
243,225
2,898,225
2018
4.500
2,750,000
123,750
2.873,750
17.455.000 i5S2LU-7 $22,476.887
These bonds are dated December 1, 1998. The proceeds of the bond issue will be used for the extension
and improvements to the waterworks system.
Principal payments are made annually on January 1. Interest is paid semi-annually on January 1 and July 1
beginning on July 1, 1999.
53
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
The interest due on the Series 1998 Waterworks System Revenue Bonds is subsidized by interest earnings
on a reserve fund held by the bond issues trustee. As the City is reimbursed for waterworks system
expenditures from the construction funds, the Department of Natural Resources deposits an amount equal
to 3 3.4 1 % of the disbursement into the reserve fund. The maximum amount of funds that will be advanced
to the reserve will be $8,517.235. As bonds are paid off, 33.41% of the amount of bonds retired will be
repaid to the Department of Natural Resources out of the reserve fund. The balance of the reserve fund at
June 30. 2009 was $5,145,503. The reserve fund yields 4.71%.
$19,885,000 Leasehold Revenue Bonds, Series 2009 due as follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
4.000%
$ 1,790,000
$ 752,403
$2,542,403
2011
3.600
1,835,000
652,756
2,487,756
2012
3.600
1,895,000
593,118
2,488,118
2013
3.700
1,955,000
531,532
2,486,532
2014
3.800
2,015,000
472,882
2,487,882
2015
3.900
2,080,000
407,394
2,487,394
2016
4.000
2,150,000
334,594
2,484,594
2017
4.000
2,240,000
248,594
2,488,594
2018
4.000
2,330,000
158,994
2,488,994
2019
4.100
1.595,000
65,794
1,660,794
$19.885.000 11218,061 $24.103.061
The revenue bonds are an obligation of the City of Cape Girardeau, Missouri. Principal and interest will be
paid by the City from proceeds of a '/2 cent sales tax. Proceeds of the bonds will be used for the
construction of a family aquatic center and for storm water control improvements
Principal payments are made annually on April 1, and interest payments are made semi-annually on April 1
and October 1.
54
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
$2,235,000 Certificates of Participation, Series 2001:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
4.800%
$ 135,000
$ 129,240
$ 264,240
2011
5.000
140,000
122,760
262,760
2012
5.800
150,000
115,760
265,760
2013
5.800
160,000
106,760
266,760
2014
5.800
165,000
97,160
2625160
2015
5.800
175,000
87,260
2625260
2016
5.800
190.000
76,760
266,760
2017
5.800
200,000
65,360
265,360
2018
6.000
210,000
53,360
263,360
2019
6.000
225,000
415180
266,180
2020
6.000
235,000
28,130
263,130
2021
6.000
250,000
14,500
264,500
$2,235.000
UJZ33,2-
The certificates are obligations of the City under a Lease Purchase Agreement between the City and UMB
Bank, NA. The Corporation also acts as the trustee who receives the rental payments for the benefit of the
certificate holders. The purpose of the 2001 Series certificates was to construct and equip an airport
manufacturing facility.
Principal payments are made annually on April 1. and interest payments are made semi-annually on April 1
and October 1.
55
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
$5,735,000 Special Obligation Bonds, Series 2005:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
3.500%
$ 645,000
$ 232,011
$ 877,011
2011
3.500
655,000
209,436
864,436
2012
3.500
680,000
186,511
866,511
2013
3.625
700,000
162,711
862,711
2014
4.000
690,000
137,336
827,336
2015
5.000
1.245,000
109.736
1,354.736
2016
4.000
80,000
47,486
127,486
2017
4.000
85,000
44,286
129,286
2018
4.100
90,000
40,886
130,886
2019
4.125
90,000
37,196
127.196
2020
4.200
95.000
33,484
128.484
2021
4.250
100,000
29,494
129,494
2022
4.250
105,000
25,244
130,244
2023
4.375
110,000
20,781
130,781
2024
4.375
115,000
15,969
130,969
2025
4.375
250,000
10,940
260,940
$5,735,000 1.343,507 $Z 7,0 8,507
Principal payments are made annually on June 1, and interest payments are made semi-annually on June
1 and December 1.
In May 2005, the City of Cape Girardeau issued 58,190.000 of Special Obligation Bonds Series 2005
with interest rates varying from 3% to 5%. The bonds are special obligations of the City payable solely
from the revenues derived from annual appropriations by the City Council.
The bonds were issued by the City for the purpose of providing funds to (a) construct, furnish, and equip
a new fire station, renovate and improve existing fire and police stations, reimburse the City for the
purchase of a new public works facility, and acquire vehicles for the police and fire departments, (b)
refinance various outstanding obligations of the City, (c) fund a debt service reserve fund for the Bonds.
and (d) pay the costs of issuing the Bonds, under the authority of and in full compliance with the City's
Charter and the Constitution and laws of the State of Missouri, and pursuant to an ordinance duly passed
and proceedings duly and legally had by the governing body of the City.
56
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
On February 9, 2006, the City of Cape Girardeau entered into a promissory note with the Bank of America
for $2,000,000. The purpose of the note was to finance additional costs on constructing fire station #3,
purchase of a site for a future fire station, equipment for the sewer and solid waste funds, and site
improvements at the new public works headquarter. The outstanding liability for the note is allocated as
follows: $1.031,250 for governmental activities and $618,750 for business -type activities.
$1,650.000 Bank of America 2006 Promissory Note:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2010
1.094%
$ 100,000
$ 18,051
$ 118,051
2011
1.094
100,000
16,957
116,957
2012
1.094
100,000
15,863
115.863
2013
1.094
100,000
14,769
114,769
2014
1.094
100,000
13,675
113,675
2015
1.094
100,000
12,581
112,581
2016
1.094
100,000
11,487
111,487
2017
1.094
10000
10,393
110,393
2018
1.094
100,000
9,299
109,299
2019
1.094
100,000
8,205
108,205
2020
1.094
100,000
7.111
107,111
2021
1.094
100,000
6,017
106,017
2022
1.094
100,000
4,923
104,923
2023
1.094
100,000
3,829
103,829
2024
1.094
100,000
2,735
102,735
2025
1.094
100,000
1,641
101,641
2026
1.094
50,000
547
50,547
1.650.000 $ 158,083 $ 1.808.083
Principal payments of $50,000 are made semi-annually on January 1 and July 1. The principal payments
are amortized over 20 years. The City may prepay the note at any time with no additional charges. Interest
accrues at a variable rate equal to the sum of the 30 -day LIBOR multiplied by 60.938%; plus 0.813%. The
rate at June 30, 2009 was 1.094%.
57
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
The annual requirements to amortize all debt outstanding as of June 30, 2009 including total interest
payments of $25,153,615 are as follows:
$ 7.936.924 $ 60.433.689 $24.103.061 $2,302.080 $ 97.948.984
The cash and investments available to service revenue bonds are $987,037 and $5,364,573 for the
governmental and business -type activities. respectively.
The cash and investments available to service the special obligation bonds and certificates of participation
in governmental activities are $682,644 and $1,149,290, respectively.
Included in business -type activities restricted cash and investments on the statement of net assets is
$35,303. which is the balance in the 2000 sewer project account which represent incomplete projects at
June 30. 2009. If the project funds are not used, the remaining balance can be applied against debt.
58
Special
Leasehold
Certificates
Year Ending
Obligation
Revenue
Revenue
of
Promissory
June 30.
Bonds
Bonds
Bonds
Participation
Note
Total
2010
$ 1,242,141
$ 6,810,020
$ 2,542,403
$ 264,240
$ 90,398
$ 10,949,202
2011
1,035,091
6,110,407
2,487,756
262,760
167.165
10,063,179
2012
1,030,966
6,144,343
2,488,118
265,760
163;535
10,092,722
2013
1.020,888
6,831,876
2,486,532
266,760
262,361
10,868,417
2014
827.336
6,002,990
2,487.882
262,160
146,275
9,726,643
2015
1,354,736
5,773,795
2,487,394
262,260
142,645
10,020,830
2016
127,486
5,842,881
2.484,594
266,760
139.015
8,860,736
2017
129,286
5,827,232
2,4889594
265,360
135,484
8,845,956
2018
130,886
4,802,233
2,488,994
263,360
131,755
7,817,228
2019
127,196
2,834,163
1,660,794
266,180
128,125
5,016,458
2020
128.484
1,789.199
-
263,130
124,495
2,305,308
2021
129,494
1,664,550
264,500
120,925
2,179,469
2022
130,244
-
-
-
117,235
247,479
2023
130,781
-
-
-
113,602
244,383
2024
130,969
-
-
-
110,005
240.974
2025
260,940
-
-
-
106,345
367,285
2026
-
-
-
102.715
102,715
$ 7.936.924 $ 60.433.689 $24.103.061 $2,302.080 $ 97.948.984
The cash and investments available to service revenue bonds are $987,037 and $5,364,573 for the
governmental and business -type activities. respectively.
The cash and investments available to service the special obligation bonds and certificates of participation
in governmental activities are $682,644 and $1,149,290, respectively.
Included in business -type activities restricted cash and investments on the statement of net assets is
$35,303. which is the balance in the 2000 sewer project account which represent incomplete projects at
June 30. 2009. If the project funds are not used, the remaining balance can be applied against debt.
58
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30. 2009
NOTE E - LONG-TERM OBLIGATIONS - Continued
Interest expense was charged to functions as follows in the statement of activities:
Governmental Activities:
Interest and Other Costs $1,388,445
Total 1 3 8 8 445
Business-Tvbe Activities:
Golf Course
$ 13,556
Sewer
702.247
Softball Complex
9,500
Solid Waste
36,122
Water
249,309
Total
1 010.734
Missouri statutes liinit the amount of general obligation debt that a city can issue to 5.00% of the total
assessed value of taxable property located within that city's boundaries. The legal debt margin for the City
of Cape Girardeau is $26,343,182.
NOTE F - DEFICIT FUND BALANCES/RETAINED EARNINGS
The Park Improvements Fund's, Golf Course Fund's and the Softball Complex Fund's total liabilities
exceeded their total assets by $5,447, $51,943 and $80,265 respectively.
59
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE G - PENSION PLAN
1. Plan Description
The City of Cape Girardeau participates in the Missouri Local Government Employees Retirement System
(LAGERS), an agent multiple -employer public employee retirement system that acts as a common
investment and administrative agent for local government entities in Missouri.
LAGERS is a defined benefit pension plan which provides retirement, disability, and death benefits to plan
members and beneficiaries. LAGERS was created and is governed by statute, Section RSMo. 70.600 -
70.755. As such, it is the system's responsibility to administer the law in accordance with the expressed
intent of the General Assembly. The plan is qualified under the Internal Revenue Code Section 401 a and it
is tax exempt.
The Missouri Local Govermnent Employees Retirement System issues a publicly available financial report
that includes financial statements and required supplementary information. That report may be obtained by
writing to LAGERS, PO Box 1665, Jefferson City, MO 65102 or by calling 1-800-447-4334.
2. Funding Policy
The City of Cape Girardeau's full-time employees do not contribute to the pension plan. The political
subdivision is required to contribute at an actuarially determined rate; the current rate is 6.1 % (general),
6.1 % (police), and 12.1 % (fire) of annual covered payroll. The contribution requirements of plan members
are determined by the governing body of the political subdivision. The contribution provisions of the
political subdivision are established by state statute.
3. Annual Pension Cost
For 2009, the political subdivision's annual pension cost of $1,006,174 was equal to the required and actual
contributions. The required contribution was determined as part of the February 28, 2007 and/or February
28, 2008 annual actuarial valuation using the entry age actuarial cost method. The actuarial assumptions as
of February 29, 2009 included (a) a rate of return on the investment of present and future assets of 7.5%
per year, compounded annually, (b) projected salary increases of 4.0% per year, compounded annually.
attributable to inflation, (c) additional projected salary increases ranging from 0.0% to 6.0% per year,
depending on age and division, attributable to seniority/merit, (d) pre -retirement mortality based on the RP -
2000 Combined Healthy Table set back 0 years for men and 0 years for women, and (e) post-retirement
mortality based on the 1971 Group Annuity Mortality table for males projected to 2000 set back 1 year for
men and 7 years for women. The actuarial value of assets was determined using techniques that smooth the
effects of short-term volatility in the market value of investments over a five-year period. The unfunded
actuarial accrued liability is being amortized as a level percentage of projected payroll on an open basis.
The amortization period at February 28, 2009 was 15 years.
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE G - PENSION PLAN - Continued
Three -Year Trend Information
Fiscal
Annual
Percentage
Net
Year
Pension
Of APC
Pension
Ending
Cost (APC)
Contributed
Obligation
06/30/07
$1,065,567
100%
$ 0
06/30/08
$1,140,078
100%
$ 0
06/30/09
$1,006,174
100%
$ 0
Note: The above assets and actuarial accrued liability do not include the assets and present value of
benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The actuarial
assumptions were changed in conjunction with the February 28, 2006 annual actuarial valuations. For a
complete description of the actuarial assumptions used in the annual valuations, please contact the
LAGERS office in Jefferson City.
NOTE H - POSTRETIREMENT HEALTHCARE BENEFITS
1. Description
The City follows the provisions of GASB Statement No. 45, Accounting and Financial Reporting by
Employers for- Postemployinent Benefits Other Than Pensions. In addition to the relevant disclosures
within this note related to GASB Statement No. 45. the financial statements reflect a long-term liability and
related expenses of $929,392 and $1,487,797, respectively, in the governmental and business -type activities
combined.
The City, through its substantive commitment to provide other post -employment benefits (OPEB),
maintains a single -employer defined benefit plan to provide certain postretirement healthcare benefits to all
former full-time employees until the retiree is eligible for Medicare (age 65). Such benefits are not
available to members' spouses or dependents; rather, only to former employees as previously described.
Specific details of the Plan include the provision of certain medical and dental insurance coverage. These
benefits are provided through insurance companies. The City is under no statutory or contractual
obligation to provide these postretirement healthcare benefits. Because the Plan consists solely of the
City's firm commitment to provide OPEB through the payment of premiums to insurance companies on
behalf of its eligible retirees, no stand-alone financial report is either available or generated.
61
City of Cape Girardeau. Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30. 2009
NOTE H - POSTRETIREMENT HEALTHCARE BENEFITS - Continued
2. FundinIZ Policy
Premiums under the Plan for post -employment healthcare benefits are funded in accordance with rates
established by the City from appropriate governmental and business -type funds. For the year ended June
30, 2009. the City paid the full premium cost for retired employees who were hired prior to January 1,
2007. For employees hired on/after January 1, 2007, the City paid a percentage of the full premium cost for
retired employees with single coverage according to years of service at retirement. For employees with 10
to 14 years of service at retirement the City's subsidy was 50%. The subsidy for employees with 15 to 19
years of service was 60%; 20 to 24 years was 70%, and employees with more than 24 years of service at
retirement received 100% subsidy. The retiree is responsible for the full cost of dependent coverage. The
plan is financed on a pay-as-you-go basis.
3. Annual OPEB Cost and Net OPEB Obligation
The City's annual OPEB cost is calculated based on the annual required contribution (ARC) of the City, an
amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year
and amortize any unfunded actuarial liabilities (or funding excess) over a period of 30 years. The
following table illustrates the components of the City's annual OPEB cost for the year, the amount actually
contributed to the Plan, and changes in the City's net OPEB obligation:
Annual required contribution
$ 1,487,797
Interest on net OPEB obligation
-0-
Adjustment to annual required contribution
-0-
Annual OPEB cost
$ 1.487,797
Contributions made
(558,405)
Increase in net OPEB obligation
$ 929,392
Net OPEB obligation, July 1, 2008
-0-
Net OPEB obligation, June 30, 2009
$ 929,392
The City's annual OPEB cost, the percentage of annual OPEB cost contributed to the Plan. and the net
OPEB obligation for 2009 were as follows:
Percentage of
Net OPEB
Fiscal Year Annual Annual OPEB
Obligation -
Ended OPEB Cost Cost Contributed
End of Year
6/30/09 $1,487.797 37.53%
$ 929,392
Because 2009 was the transition for GASB Statement 45, requirements of GASB Statement No. 45 have
been implemented prospectively; therefore, the above illustration does not reflect similar information
respective of years preceding 2009.
62
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE H - POSTRETIREMENT HEALTHCARE BENEFITS - Continued
4. Funding Status and Funding Progress
As of July 1, 2008, the most recent actuarial valuation date, the Plan was not funded. The actuarial accrued
liability for benefits equaled $12,044,967, resulting in an unfunded actuarial accrued liability (UAAL) of
$12.044,967. The covered payroll (annual payroll of active employees covered by the Plan) equaled
$12,992,284, and the ratio of the UAAL to the covered payroll equaled 92.71 %.
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined
regarding the funded status of the Plan and the annual required contributions of the employer are subject to
continual revision as actual results are compared with past expectations and new estimates are made about
the future.
The schedule of funding progress, presented as RSI following the notes to the financial statements, is to
present multiyear trend information about whether the actuarial value of the Plan assets is increasing or
decreasing over time relative to the actuarial accrued liability for benefits. However, because the City
maintains no Plan assets, information relative to Plan asset required disclosures is not applicable.
Additionally, because 2009 was the year of transition for GASB Statement No. 45, requirements of GASB
Statement No. 45 have been implemented prospectively; therefore, the RSI does not reflect similar
information respective of years preceding 2009.
5. Actuarial Methods and Assumptions
Projections of benefits for financial reporting purposes are based on the substantive Plan (the Plan as
understood by the City and Plan members) and include the types of benefits provided at the time of each
valuation and the historical pattern of sharing of benefit costs between the City and Plan members to that
point. There are no legal or contractual funding limitations that would potentially affect the projection of
benefits for financial accounting purposes. The actuarial methods and.assumptions used include techniques
that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities, consistent with
the long-term perspective of the calculations.
In the actuarial valuation dated July 1, 2008, the projected unit credit cost actuarial method was used.
Because the City funds its OPEB on a pay-as-you-go basis, the plan has no assets (investments) used
specifically for paying the post-retirement medical benefits: therefore, the actuarial assumptions included a
4.5% discount rate, which approximates the expected rate of return on non -pension investments held by the
City. Actuarial assumptions also included annual healthcare and dental cost trend rates of 10.0% and 5.0%,
respectively, initially, reduced by decrements to an ultimate rate of 4.5% and 3.0%, respectively for
healthcare and dental costs after ten years. The UAAL is being amortized as a level dollar amount over
thirty years based on an open group.
63
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE I - INTEREST EXPENSE
Interest and handling charges, totaling $1,161,808, excluding $44,981 of interfund interest, was incurred by
governmental funds during the year ended June 30, 2009. Interest and handling charges, totaling $968.433
excluding $52,642 of interfund interest, was incurred by proprietary funds during the year ended June 30,
2009. No interest cost was capitalized as part of the cost of assets constructed during the period.
NOTE J - INTERFUND ACTIVITY
A. The following is a summary of interfund balances as of June 30, 2009:
Advance to/from other funds:
Advances from Advances to
General Fund S 1,038.196 S -
Solid Waste Fund - 620.000
Golf Course Fund - 243.258
Softball Complex Fund - 174,938
S 1,03 26
The interfund balances are a result of advances to purchase capital assets and to pay for operating expenses.
Repayments are made as cash flows permit. If cash flows are not sufficient, repayments are deferred to
subsequent years.
64
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE J - INTERFUND ACTIVITY - Continued
The City makes transfers between various funds for routine and normal operating expenses and for capital
asset requisitions.
B. The following is a summary of interfund transfers for the year ended June 30, 2009:
Fund
Transfer From Transfer To
General Fund
$ 4,092,200
$ 4,330,912
Airport Fund
254,235
694,277
Park and Recreation Fund
-
1,017,834
Vision 2000 Fund
-
26
Convention and Tourism
6,500
-
Downtown Business District Fund
50.000
-
Housing Development Fund
-
15,813
Motor Fuel Tax Fund
1, 370;000
-
Capital Improvement Sales Tax -
Water System Improvements
1,604,560
128,404
Capital Improvement Sales Tax -
Sewer System Improvements
2,210161
-
Fire Sales Tax Fund
2,093,112
-
Public Safety Trust Fund
1,075,624
2,093,112
Transportation Sales Tax Trust III
-
325,000
Park/Storm Water Sales Tax
582,593
-
Park/Storm Water Sales Tax -Capital
863,465
835,832
Debt Service Fund
-
254,235
Street Improvement Fund
75,000
-
FAU Grants Fund
-
150,000
Community Development Block
Grant Project Fund
1,097
99,764
Water System Improvement
Projects Fund
128,404
1,484,560
Storm Water Projects from
Storm Water Tax
-
116,734
Park Improvement Projects from
Park Sales Tax
835,832
792,530
Sewer Fund
5,000
2,381640
Water Fund
500
128,000
Solid Waste Fund
10,205
-
Golf Course Fund
-
128,311
Softball Complex Fund
-
373,161
Fleet Management Fund
14,999
500
Equipment Replacement Fund
85.263
$ 15,358,85Q
7,205
$ 15 3 aMQ
65
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE K - SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City maintains five enterprise funds which provide sewer, water, solid waste, golf, and softball
complex services. Segment information for the year ended June 30, 2009 was as follows:
Softball
Sewer
Water
Solid Waste
Golf Course
Complex
Total
Fund
Fund
Fund
Fund
Fund
Enterprise
Operating revenues
$ 2,984,230
$5,822,350
$3,353,500
S 320,573
$ 142,610
$12,622,522
Depreciation
2,093,635
1,369,552
162,068
44,716
11,598
3,681,569
Operating Income (Loss)
(1,816,108)
323,221
212,733
(196,563)
(359,952)
(17836,669)
Operating transfers in
2.382,640
128,000
-
128,311
3731161
3,012,112
Net Income (Loss)
473,616
1,680,680
266,481
(29,483)
20,535
2,411,829
Current Capital Contributions
234,260
1,142,210
-
14,729
1,391,199
Property, Plant and Equipment
Additions
1,212,087
1,718,841
68.610
-
14,729
3,014,267
Deletions
137,205
335,887
-
-
-
473,092
Net Working Capital
(1,466.733)
2,507,948
1,510,096
6,082
11,101
2,601,201
Total Assets
58,463,720
46.203,427
2,820,719
250,277
177,262
107,915,405
Bonds and Other Long-term
Liabilities Payable from
Operating Revenues
24,949.706
4,588,813
985,459
252,480
177,867
30,954,325
Total Net Assets
$32,541,390
$40,917,506
51,560,441
S (51,943)
S (80,265)
574,887,129
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30. 2009
NOTE L - RESERVATION OF FUND EQUITY
At June 30, 2009, the City had reserved its fund equity as follows:
General Fund
Reserved for emergency fund 53,164,101
Reserved for prepaid items 73,155
Reserved for advance 1,03 8,196
Reserved for mausoleum maintenance 104,883
Reserved for local access channel 8,579
Reserved for encumbrances 51,963
LouI .
Airport Fund
Reserved for prepaid items $ 18,812
Reserved for encumbrances 6,997
25 0
Parks and Recreation Fund
Reserved for prepaid items S 4,187
Reserved for operations and maintenance 4,498
Reserved for encumbrances 17,047
25 7 2
Transportation Sales Tax Trust Fund III
Reserved for encumbrances 5 3 77
Park Projects from Parks Sales Tax
Reserved for encumbrances $3,022.4-2
Other Governmental Funds
Reserved for encumbrances 52,887,638
Reserved for emergencies 943,506
Reserved for prepaid items 45,019
Reserved for debt service 260,486
Reserved for river campus 150,921
4 287 0
67
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30- 2009
NOTE \'I - RESERVED RETAINED EARNINGS AND RESTRICTED ASSET ACCOUNTS
At June 30, 2009, the City has restricted assets in its Proprietary Funds as follows:
Depreciation
Revenue Bond
and
Bond
Sinking and
Replacement
Construction
Reserve Fund
Total
Sewer Fund $ 127.000
S 35.344
$3,460342
$ 3.623,086
Water Fund 1,300,000
4,238
1,950,388
3,254,626
Solid Waste Fund
3.967
792
4.759
$1-4Z �
LAL5M
11 22
6.882 471
NOTE N - LANDFILL CLOSURE AND POSTCLOSURE CARE COST
State and federal laws and regulations require the City to place a final cover on its landfill when closed and
perform certain maintenance and monitoring functions at the landfill site for thirty years after closure. The
City closed its landfill in the fiscal year ending June 30, 1994, and an expense provision and related
liability were recognized at that tithe based on the future closure and postclosure care costs that were
estimated to be incurred near or after the date the landfill no longer accepted waste. The entire amount of
the estimated total costs for landfill closure and postclosure care costs was recognized in prior years since
the recognition is based on landfill capacity used to date and the landfill was filled to capacity in prior
years. The estimated total future liability for landfill postclosure care costs is $52,500 as of June 30, 2009,
which is based on the amount that would be paid if all equipment, facilities, and services required to close,
monitor, and maintain the landfill were acquired as of June 30, 2009. However, the actual cost of closure
and postclosure care may be higher due to inflation, changes in technology, or changes in landfill laws and
regulations.
The City has used the option of a Contract of Obligation as the financial assurance instrument for the
landfill. The City issued bonds in October 1994 from which the proceeds were used to pay the closure
costs.
68
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE O - RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets;
errors and omissions; natural disasters; and employee health benefits. These risks, with the exception of
those discussed in the following paragraphs, are covered by commercial insurance. Settled claims have not
exceeded this commercial coverage in any of the past ten fiscal years.
The City is a member of the Missouri Public Entity Risk Management Fund, a not-for-profit public entity
insurance pool established by the state legislature. Through this pool, the City receives coverage for general
liability, law enforcement liability, errors and omissions, and employee benefit liability. Risks for these
coverages are spread across members of the fund. Currently the fund is comprised of 899 Missouri
counties, municipalities, and special districts. Premiums for these coverages are actuarially determined
based on actual claims of the pool and individual claims of the City. Each year, portions of premiums not
required because of below expected claims are returned to the members. The City has received refunds of
premiums in each of the last ten years and has used them to offset the cost of the succeeding year's
premiums.
Vehicle loss and accident liability is carried by Savers Property and Casualty Insurance. It is rated "13++"
by A.M. Best.
Airport liability is carried by Specialty Insurance Company. It is rated "A" by A.M. Best.
Property insurance is carried by Chubb Group of Insurance Companies. It is rated "A++" by A.M. Best
The City has established self-insurance plans for employees' health insurance and workers' compensation.
Both of these are accounted for using internal service funds. Under each plan, the City is substantially self-
insured and uses an administrator to handle claims management.
The City provided health coverage to its employees through a minimum premium plan administered by
Right Choice Managed Care, which had an "A-" rating by A.M. Best. Under this plan, the City paid the
administrator a monthly premium for claims administration, cost management, and specific and aggregate
stop loss coverage. The City reimbursed the administrator for claims paid up to the specific stop loss
amount of $125,000 and $125,000 annually per employee and up to the aggregate stop loss amount of
approximately $2,400,000 and $2,400,000 annually beginning January 1, 2007 and 2008, respectively, for
all employees. These limits apply only to claims made during the respective calendar years. Rates were
charged by the internal service fund to the other City funds to cover the monthly premium to the
administrator and claims up to the aggregate stop loss amount.
Corporate Claims Management. Inc. administers the City's workers' compensation plan. Under this plan,
the City pays the administrator a per claim fee to administer its claims. All claims are paid directly by the
City. The City has purchased insurance coverage from Safety National Casualty Corp. that limits the
maximum individual claims to $400,000, for all regular employees. Additionally, $5,000,000 in coverage is
provided for annual claims in excess of $1,200,000. Rates are charged by the internal service fiord to the
other City funds based on rates and experience factors established by the National Council on
Compensation Insurance. Safety National is rated "A" by A. M. Best.
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June '30, 2009
NOTE O - RISK MANAGEMENT - Continued
Claims liability is estimated using data supplied by the administrator. The claims activity during the last
five years is summarized as follows:
CLAIMS LIABILITIES RECONCILIATION
Balance June 30, 2004
Provision for Incurred Claims
Payments of Claims
Balance June 30, 2005
Provision for Incurred Claims
Payment of Claims
Balance June 30, 2006
Provision for Incurred Claims
Payment of Claims
Balance June 30, 2007
Provision for Incurred Claims
Payment of Claims
Balance June 30, 2008
Provision for Incurred Claims
Payment of Claims
Balance June 30, 2009
Health
Insurance
$ 330,000
1,761,942
(1.916.942)
$ 175,000
2,400,142
(2,065,642)
$ 509,500
2,520,411
(2,384,161)
$ 645.750
1,812,199
(2.346,449)
$ 111,500
1,860,053
(1,773.053)
$ 198.500
Workers'
Compensation
$ 355.000
526,837
(346,837)
$ 535,000
548,809
(378,809)
$ 705,000
517,676
(552,676)
$ 670,000
6,009
(406,009)
$ 270,000
523,905
(363,905)
$ 430,000
Total
S 685,000
2,288,779
(2,263,779)
$ 710,000
2,948,951
(2.444.451)
1,214,500
3,038,087
(2,936,837)
$ 1,315,750
1,818,208
(2,752,458)
$ 381,500
2,383,958
(2,136,958)
$ 628.500
NOTE P - CONCENTRATION OF CREDIT RISK/BAD DEBT ALLONVANCE
The City has uncollateralized utility accounts receivable generated within a limited geographical region
primarily consisting of its City limits. The City also has taxes, special assessments, and user fees
receivable which are concentrated among its citizens. Some of these items attach as liens against real and
personal property. The maximum accounting loss is the amount shown as utility charges receivable on the
statement of net assets.
At June 30, 2009, utility receivables totaled $1,730,081. On the financial statements, the utility receivables
are shown net of the allowance for doubtful accounts of $124,219. This results in net utility receivable of
$1,605,862. During the year ended June 30. 2009, the allowance was increased by $82,611 or
approximately .70% of the current year's utility charges and accounts totaling $89,857 were written off.
70
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE Q - COMMITMENTS AND CONTINGENCIES
1. Litigation
Various claims and lawsuits are pending against the City. In the opinion of City management, the
potential loss on all claims and lawsuits will not be significant to the City's financial statements.
2. Grant Audit
The City receives Federal and State Grants for specific purposes that are subject to review and audit by
various Federal and State agencies. Such audits could result in a request for reimbursement by any of the
Federal and State agencies for expenditures disallowed under the terms and conditions of the appropriate
agency. In the opinion of City management, such disallowances, if any, will not be significant.
3. Construction Commitments
As of June 30, 2009, the City had construction commitments outstanding of $10,437,518. The construction
commitments represent incomplete portions of contracts entered into to construct the following: various
street projects, renovation of the police station and Fire Station #1, generator installation and HVAC
upgrade at Fire Station #1, various rehab projects at the airport, floodwall mural lighting, new trail
construction. new water supply wells, improvements to existing park structures, new maintenance building
at Arena Park, new family aquatic center, parking lot overlay at water plant #2, and housing rehabilitation.
These contracts are expected to be completed within the next fiscal year.
4. Encumbrances
As of June 30, 2009. the City had encumbrances outstanding of $11,487,072.
NOTE R — PRIOR PERIOD ADJUSTMENTS
The ($9,714.53) prior period adjustment in the General fund on the Governmental Fund Statement of
Revenues. Expenditures, and Changes in Fund Balance reflects grant revenue recognized in previous years
based on expenditures that were determined to be unallowable this year. The ($6,052.61) prior period
adjustment in the Airport fund represents Federal Excise Tax that was paid in prior years on fuel sold to
Military and Federal Civilian Aircraft that the City was not able to collect.
71
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE S - CONTINGENCY
In June 2004, the City of Cape Girardeau and Cape Girardeau County entered into a development
agreement with a local business. Under the agreement, the local business agreed to pay for certain
public improvements incurred in conjunction with the construction of a new retail facility and the
City and County agreed to reimburse the local business for the cost of these improvements up to a
maximum of $4,000,000 over an estimated 15 years. The local business has completed these
improvements with a total cost of $2,668,646. The City is required by the development agreement
to reimburse the local business for $2,134,917 of these costs through scheduled quarterly payments
over the next fifteen years from available revenues. Available revenues are defined in the
development agreement as 75% of the City's quarterly net revenues from specific sales taxes
generated by the business operations of the new retail facility which exceed $64,000. The rates of
the specified sales taxes currently equal 2%. Sales taxes with rates currently equal to 1 % will expire
during the term of this agreement. The City will be required to substitute revenues for sales taxes
with equivalent rates, if available, when the specific sales taxes expire.
Required quarterly payments increase annually per the repayment schedule included in the
development agreement. To the extent that the available revenues for any quarter are less than the
required quarterly payment due, the unpaid amount will be added to the next scheduled quarterly
amount due A ithout penalties. Any amounts unpaid at the end of 15 years will be payable quarterly
from available revenues for the remainder of the agreement. Any amounts unpaid at the end of the
agreement will not be required to be paid. The term of the developer agreement is 20 years from the
execution of the agreement.
During the fiscal year ended June 30, 2009, the City paid $15,255 under the development
agreement. This amount is included in the Development Services expenses on the Statement of
Activities.
2. In June 2004, the City of Cape Girardeau and Cape Girardeau County entered into a development
agreement with a local real estate developer. Under the agreement, the local developer agreed to
pay for certain public improvements incurred in conjunction with the development of a 60 acre
retail development and the City and County agreed to reimburse the local business for the cost of
these improvements from available net sales tax revenue generated from any businesses operations
located in the development.
The local developer has completed these improvements with a total cost of $2,998,434. The City
and County are required by the development agreement to reimburse the developer for these costs
plus 4% interest with quarterly payments from available revenue. Available revenue is defined by
the agreement as all the net sales tax revenue generated by two .25% City capital improvement
sales taxes and the .50% City transportation sales tax and 50% of the net sales tax revenue
generated by a.50% County sales tax. All City sales taxes have expiration date that could occur
before the total costs of the improvements are reimbursed to the developer. The County sales tax
has no expiration date. No provision is made to replace revenues from the City sales taxes that
expire if they are not extended. The development agreement remains in effect until the total cost of
the public improvements is reimbursed to the developer.
72
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2009
NOTE S - CONTINGENCY - Continued
The City and the County are obligated only to make quarterly payments as may lawfully be made
from funds budgeted and appropriated for that purpose by the City and County. During the fiscal
year ended June 30, 2009, the City incurred payments of $119,633 under the development
agreement. This amount is included in the Development Services expenses on the statement of
activities.
3. During previous fiscal year the City entered into a development agreement with Greater Missouri
Builders, Inc. (GMB) to reimburse them for costs associated with the Town Plaza Redevelopment
Project. In conjunction with this agreement the City established the Town Plaza Community
Improvement District (CID) and determined the project area to be blighted pursuant to Chapter 353
of the Missouri Revised Statutes.
This project involves the conversion of the former Sears facility into a call center for National Asset
Recover Services (NABS) and other various improvements, such as facade improvements, parking
facilities, roof reconstruction, and HVAC enhancements. Total reimbursements to GMB for
redevelopment costs were limited to $3.6 million plus 7.5% interest. These reimbursements will be
made from incremental County and City sales tax revenues, an additional CID sales tax, and real
estate tax abatements. Reimbursements from incremental County and City sales tax revenue will be
limited to $1.2 of the $3.6 million total.
Incremental County and City sales tax revenue is defined as the difference in future tax revenues
from the City's 1% general sales tax and .5% capital improvement sales tax and half the County's
.5% general sales tax and the revenues from these taxes from the project area in calendar year 2006.
It's anticipated that the CID will implement a 1% sales tax. Improvements to the redevelopment
project will receive 100% real estate tax abatement for the first 10 years and 50% real estate tax
abatement for the next 15 years. The current Sears facility will receive 50% real estate tax
abatement for 25 years. Based on 2006 assessed values the abatement of City taxes on the
unimproved Sears facility would be $627.3.
Beginning in year six of the agreement, 50% of the gross rentals from the NABS site will be used to
supplement the incremental sales tax revenues. Reimbursements from incremental sales tax
revenues expire with repayment of the amount to be paid by incremental sales tax or 20 years
whichever comes first.
This project was completed during the year at a cost of $3,203,308. Reimbursement from
incremental County and City sales tax revenue will be limited to $1,164,839.
73
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30. 2009
NOTE S - CONTINGENCY - Continued
The City and the County are obligated to make quarterly payments as may lawfully be made
from funds budgeted and appropriated for that purpose by the City and County. During the
fiscal year ended June 30, 2009, the City incurred payments of $8,959 under the development
agreement. This amount is included in the Development Services expenses on the Statement of
Activities.
74
REQUIRED SUPPLEMENTAL INFORMATION
City of Cape Girardeau
General
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
REVENUES
Taxes
Licenses & permits
Intergovernmental
Charges for services
Internal charges
Fines and forfeits
Miscellaneous
Investment revenue
Total revenues
EXPENDITURES
Current
Administrative
Contingency
Development Services
Parks and Recreation
v Public Safety
V1 Public Works
Total current
Debt service:
Administrative Charges
Interest
Principal
Total debt service
Capital outlay:
Administrative
Development Services
Parks and Recreation
Public Safety
Public Works
Total capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Special assessments
Advance repayments
Asset disposition
Other non-operating revenue
Transfers out
Total other financing sources and uses and special items
Net change in fund balances
Fund balances — beginning
Prior period adjustment
Fund balances — ending
Budgeted Amounts
Original
$ 14,154,216.00
1,370,700.00
592,499.00
294,342.00
979,650.00
853,000.00
250,860.00
160.588.00
18,655,855.00
2,267,551.00
50,000.00
1,667,853.00
1,688,250.00
11,326,766.00
2,136,826.00
19,137,246.00
84,796.00
103,493.00
188,289.00
14,000.00
7,500.00
14,148.00
35,648.00
19,361,183.00
(705,328.00)
4,534,270.00
7,500.00
39,255.00
(3,913,596.00)
667,429.00
(37,899.00)
3,832,024.46
(9,714.53)
$ 3,784,410.93
Final
$ 14,154,216.00
1,370,700.00
592,499.00
294,342.00
979,650.00
853,000.00
250,860.00
160,588.00
18,655,855.00
2,440,551.00
522,000.00
1,528,963.00
1,692,750.00
11,361,766.00
2,113,826.00
19,659,856.00
84,796.00
103,493.00
188,289.00
97,890.00
7,500.00
14,148.00
92,000.00
211,538.00
20,059,683.00
(1,403,828.00)
4,534,270.00
7,500.00
39,255.00
(4,583,596.00)
(2,571.00)
(1,406,399.00)
3,832,024.46
(9,714.53)
$ 2,415,910.93
Actual Amounts
$ 13,963,653.14
1,400,412.28
1,109,342.33
328,233.97
1,094,301.23
788,203.83
279,365.80
132,312.55
19,095,825.13
2,432,310.94
492,773.44
1,350,698.81
1,588,408.39
11,069,046.50
2,040,491.35
18,973, 729.43
470.25
96,011.88
103,492.85
199,974.98
5,295.00
91,464.75
7,500.00
13,434.90
91,975.85
209,670.50
19,383,374.91
(287,549.78)
4,338,436.88
10,979.50
39,254.57
3,387.50
28,548.99
(4,092,199.68)
328,407.76
40,857.98
3,832,024.46
(9,714.53)
$ 3,863,167.91
Variance with
Final Budget -
Positive
(Negative)
$ (190,562.86)
29,712.28
516,843.33
33,891.97
114,651.23
(64,796.17)
28,505.80
(28,275.45)
439,970.13
8,240.06
29,226.56
178,264.19
104,341.61
292,719.50
73,334.65
686,126.57
(470.25)
(11,215.88)
0.15
(11,685.98)
(5,295.00)
6,425.25
713.10
24.15
1,867.50
676,308.09
1,116,278.22
(195,833.12)
3,479.50
(0.43)
3,387.50
28,548.99
491,396.32
330,978.76
1,447,256.98
Z. 1,4gr,Za0.ac
City of Cape Girardeau
Airport
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ 167,000.00
$ 167,000.00
$ 430,094.75
$ 263,094.75
Charges for services
363,920.00
360,920.00
253,799.16
(107,120.84)
Miscellaneous
415,331.00
415,331.00
172,746.18
(242,584.82)
Investment revenue
1,000.00
1,000.00
1,170.46
170.46
Total revenues
947,251.00
944,251.00
857,810.55
(86,440.45)
EXPENDITURES
Current:
Administrative
1,203,898.00
1,224,056.00
1,194,380.46
29,675.54
Total current
1,203,898.00
1,224,056.00
1,194,380.46
29,675.54
Debt service:
Interest
1,752.00
1,752.00
6,964.07
(5,212.07)
Principal
15,415.00
38,315.00
38,315.30
(0.30)
Total debt service
17,167.00
40,067.00
45,279.37
(5,212.37)
Capital outlay:
Administrative
34,000.00
149,342.00
112,707.80
36,634.20
Total capital outlay
34,000.00
149,342.00
112,707.80
36,634.20
Total expenditures
1,255,065.00
1,413,465.00
1,352,367.63
61,097.37
Excess (deficiency) of revenues
over (under) expenditures
(307,814.00)
(469,214.00)
(494,557.08)
(25,343.08)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
523,814.00
958,814.00
694,276.82
(264,537.18)
Other non-operating revenue
-
-
6,008.54
6,008.54
Transfers out
(258,000.00)
(258,000.00)
(254,235.40)
3,764.60
Total other financing sources and uses and special items
265,814.00
700,814.00
446,049.96
(254,764.04)
Net change in fund balances
(42,000.00)
231,600.00
(48,507.12)
(280,107.12)
Fund balances — beginning
140,934.04
140,934.04
140,934.04
-
Prior period adjustment
(6,052.61)
(6,052.61)
(6,052.61)
-
Fund balances — ending
$ 92,881.43
$ 366,481.43
$ 86,374.31
$ (280,107.12)
City of Cape Girardeau
Park and Recreation
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For
the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ -
$ -
$ 28.96
$ 28.96
Charges for services
574,243.00
574,243.00
607,771.19
33,528.19
Miscellaneous
14,800.00
14,800.00
15,594.85
794.85
Investment revenue
6,000.00
6,000.00
5,319.27
(680.73)
Total revenues
595,043.00
595,043.00
628,714.27
33,671.27
EXPENDITURES
Current:
Parks and Recreation
1,503,094.00
1,650,789.20
1,624,994.02
25,795.18
Total current
1,503,094.00
1,650,789.20
1,624,994.02
25,795.18
Debt service:
Interest
987.27
(987.27)
Total debt service
-
-
987.27
(987.27)
Capital outlay:
Parks and Recreation
75,955.00
26,666.80
22,827.34
3,839.46
Total capital outlay
75,955.00
26,666.80
22,827.34
3,839.46
Total expenditures
1,579,049.00
1,677,456.00
1,648,808.63
28,647.37
Excess (deficiency) of revenues
over (under) expenditures
(984,006.00)
(1,082,413.00)
(1,020,094.36)
62,318.64
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
984,006.00
1,054,006.00
1,017,834.36
(36,171.64)
Asset disposition
-
-
2,000.00
2,000.00
Total other financing sources and uses and special items
984,006.00
1,054,006.00
1,019,834.36
(34,171.64)
Net change in fund balances
-
(28,407.00)
(260.00)
28,147.00
Fund balances — beginning
39,728.62
39,728.62
39,728.62
-
Fund balances — ending
$ 39,728.62
$ 11,321.62
$ 39,468.62
$ 28,147.00
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2009
BUDGETS AND BUDGETARY ACCOUNTING
The City adopts annual operating budgets for all funds except Storni Water Projects from Storm
Water Sales Tax Fund, Park Improvement Projects from Park / Storm water Sales Tax Fund and
Water System Improvement Project Fund which have project length budgets.
The City follows these procedures in establishing the budgetary data reflected in the financial
statements.
1. The City Manager submits to the City Council a proposed operating budget for the fiscal
year ending the following June 30th at the first meeting of June each year. The operating
budget includes proposed expenditures and the means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
3. Prior to July 1, the budget is legally enacted through passage of an ordinance.
4. The City Manager is authorized to transfer budgeted amounts between programs within
any department; however, any revisions that alter the total appropriations of any
department must be approved by the City Council. Departments may not legally exceed
their appropriations without approval from the City Council. Appropriations expire at the
end of the year; however, outstanding encumbrances at the end of the year are honored by
the City.
5. Formal budgetary integration is employed as a management control device during the
year for all funds.
6. Budgets for all funds are adopted on a budgetary basis.
7. If, during the fiscal year, the City Manager certifies there are additional revenues to
appropriate, unencumbered appropriation balances within a department, or there is an
emergency situation, the City Council may amend the initial budget by ordinance. The
initial budget was adopted by the City Council on June 16, 2008 and amended on July 6,
2009. The initial budget and final amended budget are both reflected in the financial
statements.
For the year ended June 30, 2009, the fund expenditures for Street Improvements and Park
Improvements funds exceeded their approved budgets by $9,575 and $278, respectively.
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2009
BUDGETS AND BUDGETARY ACCOUNTING - Continued
The Statement of Revenues, Expenditures. and Changes in Fund Balances - Governmental Funds
reports revenues and expenditures on the modified accrual basis of accounting in accordance with
GAAP. The Statements of Revenues, Expenditures, and Changes in Fund Balances - Budget and
Actual (Budget Basis) for all govermnental fund types is prepared on a budgetary basis which
includes encumbrances as expenditures.
The following reconciliation adjusts GAAP basis to budget basis:
Excess (Deficiency) of Revenues and Other
Financing Sources Over (Under) Expenditures and
Other Financing Uses
The individual proprietary fund schedules of comparing budget to actual is reported on a budgetary
basis that uses the modified accrual basis of accounting with the exception of encumbrances.
Encumbrances are reported as expenses in the year of encumbrance.
79
Park Projects
Parks and
Transportation
From Park
Non -major
General
Airport
Recreation
Trust III
Sales Tax
Funds
GAAP Basis
S(216,389)
S(54,936)
S 15,346
S (669,853)
$16,757,228
S ( 2,954,039)
Increase due to:
Year-end encumbrances
Administrative services
3,000
59,602
-
-
-
23,783
Development services
470
-
-
-
-
40,765
Parks and recreation
4,836
-
2,700
-
-
-
Puhlic Safety
9,705
-
-
-
33,260
Public Works
10,940
-
-
-
-
Capital outlay
-
3,962,196
-
4,557,480
Contingency
248,471
-
-
-
-
-
Advance from other funds
39,255
-
-
-
-
Adjust investments to market
-
-
413
Asset dispositions
2,000
-
Expenses related to pass-
through grant
-
-
-
-
-
250,000
Encumbrance revenue
3.000
4,585
1,781,369
319.677
64,187
4,700
3,962.196
6,687.070
Decrease due to:
Year-end encumbrances
Administrative services
494
6,997
-
-
-
-
Development services
11,633
-
-
-
25,040
Parks and recreation
12,814
-
17,047
-
-
94,703
Public safety
19,318
-
-
97,707
Public works
5,705
-
-
-
-
Capital outlay
-
5,365,778
2,508,818
Contingency
2,000
-
-
-
-
-
Funds not budgeted annually
-
-
16,757,228
1,313,268
Encumbrance revenue
50,047
-
-
51,684
Asset dispositions
-
2,000
-
-
Pass-through grant revenue
-
-
-
-
250,000
Adjust invest to market
10,466
714
1.259
67,948
110,314
62,430
57,758
20,306
5-433,726
16357,228
4,451,534
Budget Basis
S MM
S (48,507)
� _(2601
!2.141.3831
S _
S_(ll8.03)
The individual proprietary fund schedules of comparing budget to actual is reported on a budgetary
basis that uses the modified accrual basis of accounting with the exception of encumbrances.
Encumbrances are reported as expenses in the year of encumbrance.
79
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2009
BUDGETS AND BUDGETARY ACCOUNTING - Continued
GAAP Basis
Increase due to :
Prior year encumbrances
Operating expenses
Capital Outlays
Depreciation
Special assessments
Interest cost amortized
Cost of bond refunding amortization
Deferred revenue
Issuance cost amortization
Amortized bond premium/discount
Amounts deferred to be used for future debt
service on capital appreciation bonds
Construction fund earnings
Interest subsidy received
Net OPEB obligation
Asset dispositions
Decrease due to:
Year-end encumbrances
Operating expenses
Capital outlays
Landfill closure and maintenance costs
Cost of bond refunding amortization
Interest paid more than accrual
Bond principal paid
Amortized Bond premium/discount
Capital outlays
Adjust investments to market
Asset Dispositions
Deferred revenues
Issuance cost amortization
Encumbrance related revenue
Adjustment to liability for future landfill
postclosure maintenance costs
Contributed capital
Budget Basis
- - 8,056 -
166.120 1.142.210 14.729
4,481,576 2,928,977 183.592 24.856 35.746
S f�52.7651 $ 354 �Z S 1 --
HE
-
.E
Net Income (Loss)
Solid
Golf
Softball
Sewer
Water
Waste
Course
Complex
S 473,616
S 1,680,680
S 266,481 5
(29,483)
S 20.535
14,130
13,423
470
400
685
143,405
24.300
5,994
-
-
2,093,633
1,369,554
162,068
44,716
11.598
42,282
15,932
-
-
-
457,187
-
-
-
-
62.321
-
-
29,523
22,278
-
181
-
461
-
254.360
-
-
604.015
-
-
-
-
54,072
7,996
38,972
9,223
2,928
62.407
87,000
3,755,195
1,602,804
207,965
54,339
15,211
18,140
7,196
455
99
5,694
1,514
68,229
-
-
-
-
-
3,444
-
37
-
147
24,097
11,423
463
-
-
3,240,504
919,821
55,426
24,193
15,062
-
17,184
-
-
-
981,979
617,081
45,610
-
-
16,932
68,336
14,249
564
261
32.253
77,497
55,660
-
-
82
- - 8,056 -
166.120 1.142.210 14.729
4,481,576 2,928,977 183.592 24.856 35.746
S f�52.7651 $ 354 �Z S 1 --
HE
-
.E
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2009
BUDGETS AND BUDGETARY ACCOUNTING - Continued
GAAP Basis
Increase due to:
Prior year encumbrances
Operating expenses
Capital Outlays
Depreciation
Deferred revenues
Issuance cost amortization
Difference between proceeds from
sale of fixed assets and gain or loss
Net OPEB Obligation
Adjust investments to market
Decrease due to:
Year-end encumbrances
Operating expenses
Capital outlays
Interest paid more than accrued
Adjust investments to market
Asset dispositions
Amortized Bond premium/discount
Principal paid
Capital outlays
Budget Basis
Net Income (Loss)
Data
Fleet
Employee
Risk
Equipment
Processine
Manaeement
Liam
Management
Replacement
S 86.414
S (33,579)
S 516.343
S (13,670)
S (796)
85 122 - - -
- - - - 19.784
33,915 13,994 - - 223,279
- 3,561 - - -
114 - - 546
- - - 167,770
5.214 35.466 - - -
39,214 53.257 - - 411,379
- 4.257
- - -
- -
- - 29,611
- -
- - 160
1.329 1,255
7270 8,429 15,826
- -
- - 17.000
-
- - 186
- 9.750
- - 55,000
120,493
- - 764,054
121,822 15.262
7,270 8.429 881,837
S4,416 1_5_0� (22.0991 2
81
00
N
Actuarial
Valuation
nate
)-/28/2uu,/
2/29/2008
2/28/2009
(a)
Actuarial
Value
Of Assets
$ 31,670,051
33,474,714
26,852,264
CITY OF CAPE GIRARDEAU, MISSOURI
Schedule of Funding Progress
(b)
Entry Age
Actuarial
Accrued
Liability
$ 29,087,073
30,743,406
30,816,797
June 30, 2009
(b -a)
Unfunded
Accrued
Liability
(UAL)
(2,582,978)
(2,731,308)
3,964,533
See Independent Auditors' Report.
[(b-a)/c)]
UAL as a
Percentage of
Covered
Payroll
29%
(c)
(a/b)
Annual
Funded
Covered
Ratio
Payroll
109%
$ 13,120,224
109%
13,845,635
87%
13,852,177
See Independent Auditors' Report.
[(b-a)/c)]
UAL as a
Percentage of
Covered
Payroll
29%
SUPPLEMENTAL INFORMATION
City of Cape Girardeau
Vision 2000
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
REVENUES
Investment revenue
$ -
$
$ 133.62
$ 133.62
Total revenues
-
-
133.62
133.62
EXPENDITURES
Current:
Administrative
1,000.00
1,000.00
26.24
973.76
Total current
1,000.00
1,000.00
26.24
973.76
Total expenditures
1,000.00
1,000.00
26.24
973.76
00 Excess (deficiency) of revenues
U' over (under) expenditures
(1,000.00)
(1,000.00)
107.38
1.107.38
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
1,000.00
1,000.00
26.24
(973.76)
Total other financing sources and uses and special items
1,000.00
1,000.00
26.24
(973.76)
Net change in fund balances
-
-
133.62
133.62
Fund balances — beginning
2,777.55
2,777.55
2,777.55
-
Fund balances — ending
$ 2,777.55
S 2,777.55
$ 2,911.17
$ 133.62
City of Cape Girardeau
Convention and Tourism
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 1,669,750.00
$ 1,669,750.00
$ 1,718,951.45
$ 49,201.45
Miscellaneous
-
-
10,400.00
10,400.00
Investment revenue
28,000.00
28,000.00
34,438.28
6,436.28
Total revenues
1,697,750.00
1,697,750.00
1,763,789.73
66,039.73
EXPENDITURES
Current:
Administrative
1,732,632.00
1,912,632.00
1,799, 299.13
113,332.87
Total current
1,732,632.00
1,912,632.00
1,799,299.13
113,332.87
00
4�1 Total expenditures
1,732,632.00
1,912,632.00
1,799,299.13
113,332.87
Excess (deficiency) of revenues
over (under) expenditures
(34,882.00)
(214,882.00)
(35,509.40)
179,372.60
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
-
-
(6,500.00)
(6,500.00)
Total other financing sources and uses and special items
-
(6,500.00)
(6,500.00)
Net change in fund balances
(34,882.00)
(214,882.00)
(42,009.40)
172,872.60
Fund balances — beginning
933,916.97
933,916.97
933,916.97
-
Fund balances — ending
$ 899,034.97
$ 719,034.97
$ 891,907.57
$ 172,872.60
City of Cape Girardeau
Downtown Business District
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
REVENUES
Taxes $
19,925.00
$ 19,925.00
$ 22,976.03
$ 3,051.03
Miscellaneous
-
-
41.99
41.99
Investment revenue
2,075.00
2,075.00
2,395.99
320.99
Total revenues
22,000.00
22,000.00
25,414.01
3,414.01
EXPENDITURES
Current:
Development Services
12,000.00
12,000.00
12,293.53
(293.53)
Total current
12,000.00
12,000.00
12,293.53
(293.53)
Capital outlay:
Development Services
10,000.00
10,000.00
-
10,000.00
v, Total capital outlay
10,000.00
10,000.00
-
10,000.00
Total expenditures
22,000.00
22,000.00
12,293.53
9,706.47
Excess (deficiency) of revenues
over (under) expenditures
-
-
13,120.48
13,120.48
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
-
(50,000.00)
(50,000.00)
-
Total other financing sources and uses and special items
(50,000.00)
(50,000.00)
-
Net change in fund balances
-
(50,000.00)
(36,879.52)
13,120.48
Fund balances — beginning
71,280.84
71,280.84
71,280.84
-
Fund balances — ending $
71,280.84
$ 21,280.84
$ 34,401.32
$ 13,120.48
City of Cape Girardeau
Health
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Taxes
Licenses & permits
Intergovernmental
Investment revenue
Total revenues
EXPENDITURES
Current:
Public Safety
Total current
00 Total expenditures
rn Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
Net change in fund balances
Fund balances — beginning
Fund balances — ending
$ 298,916.00
6,000.00
6,300.00
14,650.00
325,866.00
325,866.00
325,866.00
325,866.00
$ 298,910.00
6,000.00
6,300.00
14,650.00
325,866.00
325,866.00
325,866.00
325,866.00
$ 307,713.13
4,647.00
7,544.92
19,536.27
339,441.32
314,716.75
314,716.75
314,716.75
24,724.57
- 24,724.57
407,842.94 407,842.94 407,842.94
$ 407,842.94 $ 407,842.94 $ 432,567.51
Variance with
Final Budget -
Positive
(Negative)
$ 8,797.13
(1,353.00)
1,244.92
4,886.27
13,575.32
11,149.25
11,149.25
11,149.25
24,724.57
24,724.57
$ 24,724.57
City of Cape Girardeau
Motor Fuel Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ 1,425,000.00
$ 1,425,000.00
$ 1,388,366.90
$ (36,633.10)
Investment revenue
15,965.00
15,965.00
13,111.18
(2,853.82)
Total revenues
11440,965.00
1,440,965.00
1,401,478.08
(39,486.92)
EXPENDITURES
Current:
Public Safety
-
-
70,462.00
(70,462.00)
Total current
-
-
70,462.00
(70,462.00)
Capital outlay:
Capital Improvement Projects
130,000.00
130,000.00
-
130,000.00
Total capital outlay
130,000.00
130,000.00
-
130,000.00
00
Total expenditures
130,000.00
130,000.00
70,462.00
59,538.00
Excess (deficiency) of revenues
over (under) expenditures
1,310,965.00
1,310,965.00
1,331,016.08
20,051.08
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments
8,935.00
8,935.00
4,614.10
(4,320.90)
Transfers out
(1,620,000.00)
(1,705,000.00)
(1,370,000.00)
335,000.00
Total other financing sources and uses and special items
(1,611,065.00)
(1,696,065.00)
(1,365,385.90)
330,679.10
Net change in fund balances
(300,100.00)
(385,100.00)
(34,369.82)
350,730.18
Fund balances — beginning
174,503.13
174,503.13
174,503.13
-
Fund balances — ending
$(125,596.87)
$ (210,596.87)
$ 140,133.31
$ 350,730.18
City of Cape Girardeau
Capital Improvement Sales Tax -Flood Control
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 2,600.00
$ 2,600.00
$ 2,807.92
$ 207.92
Total revenues
2,600.00
2,600.00
2,807.92
207.92
EXPENDITURES
Capital outlay:
Capital Improvement Projects
-
5,000.00
3,523.24
1,476.76
Total capital outlay
5,000.00
3,523.24
1,476.76
Total expenditures
-
5,000.00
3,523.24
1,476.76
00
00 Excess (deficiency) of revenues
over (under) expenditures
2,600.00
(2,400.00)
(715.32)
1,684.68
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
-
-
Net change in fund balances
2,600.00
(2,400.00)
(715.32)
1,684.68
Fund balances — beginning
60,586.48
60,586.48
60,586.48
-
Fund balances — ending
$ 63,186.48
$ 58,186.48
$ 59,871.16
$ 1,684.68
City of Cape Girardeau
Capital Improvement Sales Tax -Water System Improvements
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 2,235,000.00
$ 2,235,000.00
$ 2,147,530.91
$ (87,469.09)
Investment revenue
96,750.00
98,750.00
132,445.68
33,695.68
Total revenues
2,333,750.00
2,333,750.00
2,279,976.59
(53,773.41)
EXPENDITURES
Current:
Development Services:
36,500.00
36,500.00
33,305.87
3,194.13
Total current
36,500.00
36,500.00
33,305.87
3,194.13
00
Debt service:
Administrative charges
67,215.00
67,215.00
57,489.71
9,725.29
Interest
910,475.00
910,475.00
666,089.18
244,385.82
Principal
1,025,000.00
1,025,000.00
1,025,000.00
-
Total debt service
2,002,690.00
2,002,690.00
1,748,578.89
254,111.11
Total expenditures
2,039,190.00
2,039,190.00
1,781,884.76
257,305.24
Excess (deficiency) of revenues
over(under)expenditures
294,560.00
294,560.00
498,091.83
203,531.83
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
60,000.00
60,000.00
128,403.56
68,403.56
Transfer out
(1,604,560.00)
(1,604,560.00)
(1,604,560.00)
-
Total other financing sources and uses and special items
(1,544,560.00)
(1,544,560.00)
(1,476,156.44)
68,403.56
Net change in fund balances
(1,250,000.00)
(1,250,000.00)
(978,064.61)
271,935.39
Fund balances — beginning
2,723,138.19
2,723,138.19
2,723,138.19
-
Fund balances --ending
$ 1,473,138.19
$ 1,473,138.19
$ 1,745,073.58
$ 271,935.39
19
City of Cape Girardeau
Transportation Sales Tax Trust Fund
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 38,850.00
$ 38,850.00
$ 26,653.69
$ (12,196.31)
Total revenues
38,850.00
38,850.00
26,653.69
(12,196.31)
EXPENDITURES
Debt service:
Administrative charges
2,500.00
2,500.00
418.00
2,082.00
Interest
22,263.00
22,263.00
22,263.00
-
Principal
123,000.00
123,000.00
123,000.00
-
Total debt service
147,763.00
147,763.00
145,681.00
2,082.00
Capital outlay:
Capital Improvement Projects
-
170,000.00
166,623.57
3,376.43
Total capital outlay
-
170,000.00
166,623.57
3,376.43
Total expenditures
147,763.00
317,763.00
312,304.57
5,458.43
Excess (deficiency) of revenues
over (under) expenditures
(108,913.00)
(278,913.00)
(285,650.88)
(6,737.88)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special Assessments
97,500.00
97,500.00
112,490.05
14,990.05
Total other financing sources and uses and special items
97,500.00
97,500.00
112,490.05
14,990.05
Net change in fund balances
(11,413.00)
(181,413.00)
(173,160.83)
8,252.17
Fund balances — beginning
384,532.49
384,532.49
384,532.49
-
Fund balances — ending
$ 373,119.49
$ 203,119.49
$ 211,371.66
$ 8,252.17
I'D
City of Cape Girardeau
Capital Improvement Sales Tax -Sewer System Improvements
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
REVENUES
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
Taxes
$ 2,235,000.00
$ 2,235,000.00
$ 2,147,571.52
$ (87,428.48)
Investment revenue
27,750.00
27,750.00
22,502.43
(5,247.57)
Total revenues
2,262,750.00
2,262,750.00
2,170,073.95
(92,676.05)
EXPENDITURES
Current
Development Services
36,500.00
36,500.00
33,305.87
3,194.13
Total current
36,500.00
36,500.00
33,305.87
3,194.13
Total expenditures
36,500.00
36,500.00
33,305.87
3,194.13
Excess (deficiency) of revenues
over (under) expenditures
2,226,250.00
2,226,250.00
2,136,768.08
(89,481.92)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
(2,210,261.00)
(2,210,261.00)
(2,210,261.00)
-
Total other financing sources and uses and special items
(2,210,261.00)
(2,210,261.00)
(2,210,261.00)
Net change in fund balances
15,989.00
15,989.00
(73,492.92)
(89,481.92)
Fund balances — beginning
812,989.60
812,989.60
812,989.60
Fund balances — ending
$ 828,978.60
S 828,978.60
$ 739,496.68
$ (89,481.92)
9
City of Cape Girardeau
Transportation Sales Tax Trust Fund II
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 150,290.00
$ 150,290.00
$ 200,016.40
$ 49,726.40
Total revenues
150,290.00
150,290.00
200,016.40
49,726.40
EXPENDITURES
Capital outlay:
Capital Improvement Projects
250,000.00
500,000.00
330,136.40
169,863.60
Total capital outlay
250,000.00
500,000.00
330,136.40
169,863.60
Total expenditures
250,000.00
500,000.00
330,136.40
169,863.60
Excess (deficiency) of revenues
over (under) expenditures
(99,710.00)
(349,710.00)
(130,120.00)
219,590.00
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments
41,195.00
41,195.00
41,789.81
594.81
Total other financing sources and uses and special items
41,195.00
41,195.00
41,789.81
594.81
Net change in fund balances
(58,515.00)
(308,515.00)
(88,330.19)
220,184.81
Fund balances — beginning
1,135, 278.43
1,135,278.43
1,135,278.43
-
Fund balances — ending
$ 1,076,763.43
$ 826,763.43
$ 1,046,948.24
$ 220,184.81
City of Cape Girardeau
Fire Sales Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
S 2,174,000.00
$ 2,174,000.00
$ 2,081,529.12
$ (92,470.88)
Investment revenue
3,650.00
3,650.00
2,220.27
(1,429.73)
Total revenues
2,177,650.00
2,177,650.00
2,083,749.39
(93,900.61)
EXPENDITURES
Total expenditures
-
-
Excess (deficiency) of revenues
over (under) expenditures
2,177,650.00
2,177,650.00
2,083,749.39
(93,900.61)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfer out
(2,166,000.00)
(2,166,000.00)
(2,093,111.88)
72,888.12
Total other financing sources and uses and special Items
(2,166,000.00)
(2,166,000.00)
(2,093,111.88)
72,888.12
Net change in fund balances
11,650.00
11,650.00
(9,362.49)
(21,012.49)
Fund balances — beginning
181,422.26
181,422.26
181,422.26
-
Fund balances — ending
$ 193,072.26
$ 193,072.26
$ 172,059.77
S (21,012.49)
City of Cape Girardeau
Public Safety Trust
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Capital outlay:
Capital Improvement Projects
-
220,000.00
202,312.82
Variance with
Public Safety
Budgeted Amounts
307,300.00
296,417.24
Final Budget -
Total capital outlay
301,300.00
527,300.00
498,730.06
Positive
Total expenditures
Original
Final
Actual Amounts
(Negative)
REVENUES
Charges for services
$ 16,800.00
$ 16,800.00
$ -
$ (16,800.00)
Investment revenue
37,200.00
37,200.00
69,488.22
32,288.22
Total revenues
54,000.00
54,000.00
69,488.22
15,488.22
EXPENDITURES
(1,120,219.00)
(1,120,219.00)
(1,075,624.47)
44,594.53
Current:
1,045,781.00
1,045,781.00
1,023,887.45
(21,893.55)
Public Safety
-
4,000.00
16,673.33
(12,673.33)
Total current
-
4,000.00
16,673.33
(12,673.33)
� Debt service:
$ 1,333,324.75
$ 1,103,324.75
$ 1,127,864.08
$ 24,539.33
Interest
206,483.00
206,483.00
191,434.95
15,048.05
Principal
551,500.00
551,500.00
551,500.00
Total debt service
757,983.00
757,983.00
742,934.95
15,048.05
Capital outlay:
Capital Improvement Projects
-
220,000.00
202,312.82
17,687.18
Public Safety
301,300.00
307,300.00
296,417.24
10,882.76
Total capital outlay
301,300.00
527,300.00
498,730.06
28,569.94
Total expenditures
1,059,283.00
1,289,283.00
1,258,338.34
30,944.66
Excess (deficiency) of revenues
over (under) expenditures
(1,005,283.00)
(1,235,283.00)
(1,188,850.12)
46,432.88
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
2,166,000.00
2,166,000.00
2,099,511.92
(66,488,08)
Transfer out
(1,120,219.00)
(1,120,219.00)
(1,075,624.47)
44,594.53
Total other financing sources and uses and special items
1,045,781.00
1,045,781.00
1,023,887.45
(21,893.55)
Net change in fund balances
40,498.00
(189,502.00)
(164,962.67)
24,539.33
Fund balances — beginning
1,292,825.75
1,292,826.75
1,292,826.75
-
Fund balances — ending
$ 1,333,324.75
$ 1,103,324.75
$ 1,127,864.08
$ 24,539.33
City of Cape Girardeau
Debt Service
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
REVENUES
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
Miscellaneous
$ 27,281.00
$ 27,281.00
$ 76,174.89
$ 48,893.89
Investment revenue
15,950.00
15,950.00
10,499.60
(5,450.40)
Total revenues
43,231.00
43,231.00
86,674.49
43,443.49
EXPENDITURES
Debt service:
Administrative charges
3,000.00
3,000.00
2,821.50
178.50
Interest
144,827.00
146,827.00
146,310.91
516.09
Principal
185,500.00
236,600.00
236,600.00
-
Total debt service
333,327.00
386,427.00
385,732.41
694.59
Total expenditures
333,327.00
386,427.00
385,732.41
694.59
Excess (deficiency) of revenues
$ 304,326.45
$ 251,226.45
$ 294,186.39
$ 42,959.94
over(under)expenditures
(290,096.00)
(343,196.00)
(299,057.92)
44,138.08
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
258,000.00
258,000.00
254,235.40
(3,764.60)
Special assessments
33,000.00
33,000.00
35,586.46
2,586.46
Total other financing sources and uses and special items
291,000.00
291,000.00
289,821.86
(1,178.14)
Net change in fund balances
904.00
(52,196.00)
(9,236.06)
42,959.94
Fund balances — beginning
303,422.45
303,422.45
303,422.45
-
Fund balances — ending
$ 304,326.45
$ 251,226.45
$ 294,186.39
$ 42,959.94
City of Cape Girardeau
General Capital Improvements
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ -
$ -
$ 1,588,243.78
$ 1,588,243.78
Investment revenue
8,000.00
8,000.00
10,390.30
2,390.30
Total revenues
8,000.00
8,000.00
1,598,634.08
1,590,634.08
EXPENDITURES
Capital outlay:
Capital Improvement Projects
-
1,606,000.00
1,592,984.60
13,015.40
Total capital outlay
-
1,606,000.00
1,592,984.60
13,015.40
Total expenditures
-
1,606,000.00
1,592,984.60
13,015.40
Excess (deficiency) of revenues
over (under) expenditures
8,000.00
(1,598,000.00)
5,649.48
1,603,649.48
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
-
Net change in fund balances
8,000.00
(1,598,000.00)
5,649.48
1,603,649.48
Fund balances — beginning
215,964.91
215,964.91
215,964.91
-
Fund balances — ending
$ 223,964.91
$ (1,382,035.09)
$ 221,614.39
$ 1,603,649.48
v
City of Cape Girardeau
Street Improvements
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 7,580.00
$ 7,580.00
$ 12,550.98
S 4,970.98
Total revenues
7,580.00
7,580.00
12,550.98
4,970.98
EXPENDITURES
Capital outlay:
Capital Improvement Projects
-
75,500.00
75,074.83
425.17
Total capital outlay
-
75,500.00
75,074.63
425.17
Total expenditures
-
75,500.00
75,074.83
425.17
Excess (deficiency) of revenues
over (under) expenditures
7,580.00
(67,920.00)
(62,523.85)
5,39b.15
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special Assessments
21,600.00
21,600.00
25,223.85
3,623.85
Transfers out
-
(65,000.00)
(75,000.00)
(10,000.00)
Total other financing sources and uses and special items
21,600.00
(43,400.00)
(49,776.15)
(6,376.15)
Net change in fund balances
29,180.00
(111,320.00)
(112,300.00)
(980.00)
Fund balances — beginning
112,427.78
112,427.78
112,427.78
-
Fund balances — ending
$ 141,607.78
$ 1,107.78
$ 127.78
$ (980.00)
City of Cape Girardeau
Park Improvements
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ -
$
$ 410,664.92
$ 410,664.92
Investment revenue
-
-
5,507.56
5,507.56
Total revenues
-
-
416,172.48
416,172.48
EXPENDITURES
Debt Service
Interest
-
8.53
(8.53)
Total debt service
-
-
8.53
(8.53)
Capital Outlay
O° Capital Improvement Projects
520,000.00
520,269.70
(269.70)
Total capital outlay
-
520,000.00
520,269.70
(269.70)
Total expenditures
520,000.00
520,278.23
(278.23)
Excess (deficiency) of revenues
over(under)expenditures
-
(520,000.00)
(104,105.75)
415,894.25
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
-
Net change in fund balances
-
(520,000.00)
(104,105.75)
415,894.25
Fund balances — beginning
183,750.53
183,750.53
183,750.53
-
Prior period adjustment
(0.01)
(0.01)
(0.01)
-
Fund balances — ending
$ 183,750.52
$ (336,249.48)
$ 79,644.77
$ 415,894.25
go
City of Cape Girardeau
FAU Grant Projects
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ -
$ -
$ 40,000.00
$ 40,000.00
Investment revenue
6,000.00
6,000.00
14,774.50
8,774.50
Total revenues
6,000.00
6,000.00
54,774.50
48,774.50
EXPENDITURES
Capital outlay:
Capital Improvement Projects
-
72,500.00
70,002.17
2,497.83
Total capital outlay
-
72,500.00
70,002.17
2,497.83
Total expenditures
-
72,500.00
70,002.17
2,497.83
Excess (deficiency) of revenues
over(under)expenditures
6,000.00
(66,500.00)
(15,227.67)
51,272.33
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
-
150,000.00
150,000.00
-
Total other financing sources and uses and special items
-
150,000.00
150,000.00
-
Net change in fund balances
6,000.00
83,500.00
134,772.33
51,272.33
Fund balances — beginning
206,798.71
206,798.71
206,798.71
-
Prior period adjustment
163,322.91
163,322.91
163,322.91
-
Fund balances — ending
$ 376,121.62
$ 453,621.62
$ 504,893.95
$ 51,272.33
City of Cape Girardeau
Community Development Block Grant Projects
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
REVENUES
Intergovernmental $ -
$ -
$ 112,529.53
$ 112,529.53
Investment revenue -
-
2,130.25
2,130.25
Total revenues -
-
114,659.78
114,659.78
EXPENDITURES
Current:
Development Services
50,000.00
46,269.48
3,730.52
Total current -
50,000.00
46,269.48
3,730.52
Debt service:
Interest
-
2,043.51
(2,043.51)
C)
Total debt service -
-
2,043.51
(2,043.51)
Capital outlay:
Capital Improvement Projects -
300,000.00
301,019.93
(1,019.93)
Total capital outlay -
300,000.00
301,019.93
(1,019.93)
Total expenditures -
350,000.00
349,332.92
667.08
Excess (deficiency) of revenues
over (under) expenditures -
(350,000.00)
(234,673.14)
115,326.86
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In -
215,000.00
99,763.68
(115,236.32)
Bond proceeds -
-
122,842.75
122,842.75
Transfers out -
(5,000.00)
(1,097.00)
3,903.00
Total other financing sources and uses and special items -
210,000.00
221,509.43
11,509.43
Net change in fund balances -
(140,000.00)
(13,163.71)
126,836.29
Fund balances — beginning 51,623.35
51,623.35
51,623.35
-
Fund balances -- ending $ 51,623.35
$(88,376.65)
$ 38,459.64
$ 126,836.29
0
City of Cape Girardeau
Transportation Sales Tax Trust Fund III
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Variance with
Final Budget -
Positive
(Negative)
Taxes
$ 4,343,000.00
$ 4,343,000.00
$ 4,165,416.01
$ (177,583.99)
Intergovernmental
365,000.00
365,000.00
905.55
(364,094.45)
Investment revenue
127,300.00
127,300.00
292,808.50
165,508.50
Total revenues
4,835,300.00
4,835,300.00
4,459,130.06
(376,169.94)
EXPENDITURES
Current:
Development Services:
72,000.00
72,000.00
63,630.16
8,369.84
Total current
72,000.00
72,000.00
63,630.16
8,369.84
Capital outlay:
Capital Improvement Projects
4,795,000.00
9,750,000.00
6,861,883.28
2,888,116.72
Total capital outlay
4,795,000.00
9,750,000.00
6,861,883.28
2,888,116.72
Total expenditures
4,867,000.00
9,822,000.00
6,925,513.44
2,896,486.56
Excess (deficiency) of revenues
over (under) expenditures (31,700.00) (4,986,700.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 650,000.00 650,000.00
Total other financing sources and uses and special items 650,000.00 650,000.00
Net change in fund balances 618,300.00 (4,336,700.00)
Fund balances — beginning
Prior period adjustment
Fund balances — ending
3,076,880.41 3,076,880.41
(7,400.00) (7,400.00)
$ 3,687,780.41 $ (1,267,219.59)
(2,466,383.38)
325,000.00
325,000.00
(2,141,383.38)
3,076,880.41
(7,400.00)
$ 928,097.03
2,520,316.62
(325,000.00)
(325,000.00)
2,195,316.62
$ 2,195,316.62
City of Cape Girardeau
Park Storm Water Sales Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 681,000.00
$ 681,000.00
$ 711,393.28
$ 30,393.28
Investment revenue
-
-
2,631.62
2,631.62
Total revenues
681,000.00
681,000.00
714,024.90
33,024.90
EXPENDITURES
Current:
Parks and Recreation
-
1,000.00
-
1,000.00
Total current
-
1,000.00
-
1,000.00
oN Capital outlay:
Parks and Recreation
-
17,500.00
-
17,500.00
Total capital outlay
-
17,500.00
17,500.00
Total expenditures
-
18,500.00
-
18,500.00
Excess (deficiency) of revenues
over(under)expenditures
681,000.00
662,500.00
714,024.90
51,524.90
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfer out
(664,363.00)
(664,363.00)
(582,592.58)
81,770.42
Total other financing sources and uses and special items
(664,363.00)
(664,363.00)
(582,592.58)
81,770.42
Net change in fund balances
16,637.00
(1,863.00)
131,432.32
133,295.32
Fund balances — beginning
-
-
-
Fund balances — ending
$ 16,637.00
$ (1,863.00)
$ 131,432.32
$ 133,295.32
O
w
City of Cape Girardeau
Park Storm Water Sales Tax -Capital
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
REVENUES
Taxes
Investment revenue
Total revenues
EXPENDITURES
Capital outlay:
Parks and Recreation
Total capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Interest and other charges
Transfer out
Total other financing sources and uses and special items
Net change in fund balances
Fund balances — beginning
Fund balances — ending
Budgeted Amounts
Original Final
$ 2,316,000.00
2,316,000.00
2,316,000.00
(2,043,000.00)
(2,043,000.00)
273,000.00
$ 273,000.00
$ 2,316,000.00
1,299,000.00
1,299,000.00
1,299,000.00
1,017,000.00
(5,000.00)
(2,043,000.00)
(2,048,000.00)
(1,031,000.00)
$ (1,031,000.00)
Actual Amounts
$ 2,134,179.87
6,924.85
2,141,104.72
1,289,145.53
1,289,145.53
1,289,145.53
851,959.19
835,831.61
(4,026.23)
(863,465.42)
(31,660.04)
820,299.15
Variance with
Final Budget -
Positive
(Negative)
$ (181,820.13)
6,924.85
(174,895.28)
9,854.47
(165,040.81)
835, 831.61
973.77
1,179, 534.58
2,016,339.96
1,851,299.15
0
4 -
City of Cape Girardeau
Housing Development Grants
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
REVENUES
Intergovernmental
$ 250,000.00
$ 250,000.00
$ 170,446.86
$ (79,553.14)
Investment revenue
-
-
179.90
179.90
Total revenues
250,000.00
250,000.00
170,626.76
(79,373.24)
EXPENDITURES
Current:
Development Services
250,000.00
250,000.00
177,991.61
72,008.39
Total current
250,000.00
250,000.00
177,991.61
72,008.39
Debt service:
Interest
-
-
3,809.19
(3,809.19)
Total debt service
-
-
3,809.19
(3,809.19)
Total expenditures
250,000.00
250,000.00
181,800.80
68,199.20
Excess (deficiency) of revenues
over (under) expenditures
-
-
(11,174.04)
(11,174.04)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
25,000.00
30,000.00
15,812.72
(14,187.28)
Total other financing sources and uses and special items
25,000.00
30,000.00
15,812.72
(14,187.28)
Net change in fund balances
25,000.00
30,000.00
4,638.68
(25,361.32)
Fund balances — beginning
3,379.96
3,379.96
3,379.96
-
Fund balances — ending
$ 28,379.96
$ 33,379.96
$ 8,018.64
$ (25,361.32)
O
�s
REVENUES
Intergovernmental
Residential charges
Commercial charges
Other fees and charges
Miscellaneous
Investment revenue
Total revenues
EXPENDITURES
Current:
Contractual services
General operating expenses
Internal service expense
Material and supplies
Personnel services
Special projects expense
Total current
Debt service:
Administrative charges
Interest
Principal
Total debt service
Capital outlay:
Capital Improvement Projects
Equipment
Other Capital Expenditures
Total capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
City of Cape Girardeau
Sewer
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Connection fees
Special assessments
Asset disposition
Other non-operating revenue
Transfers out
Total other financing sources and uses and special items
Net change in fund balances
Fund balances — beginning
Fund balances — ending
(2,359,740.00)
(3,476,027.00)
(2,822,048.48)
Variance with
Budgeted Amounts
2,372,404.00
2,382,640.35
Final Budget -
100,000.00
100,000.00
68,140.00
Positive
Original
Final
Actual Amounts
(Negative)
10,000.00
$ -
$
$ 122,154.98
$ 122,154.98
1,785,000.00
1,785,000.00
1,789,560.27
4,560.27
1,134,000.00
1,134,000.00
1,108,402.39
(25,597.61)
41,000.00
41,000.00
42,669.17
1,669.17
12,500.00
12,500.00
11,344.80
(1,155.20)
50,800.00
50,800.00
506,051.99
455,251.99
3,023,300.00
3,023, 300.00
3,580,183.60
556,883.60
215,956.00
247,038.21
252,967.10
(5,928.89)
169,000,00
157,534.54
50,748.88
106,785.66
130,225.00
150,225.00
180,879.10
(30,654.10)
411,915.00
402,798.25
415,678.25
(12,880.00)
1,512,555.00
1,564,355.00
1,579,088.29
(14,733.29)
83, 643.00
204,143.00
177, 279, 59
26, 863.41
2,523,294.00
2,726,094.00
2,656,641.21
69,452.79
119,790.00
119,790.00
113,365,57
6,424.43
332,682.00
(452,318.00)
(448,366.38)
(3,951.62)
2,097,274.00
3,240,504.00
3,240,503.98
0.02
2,549,746.00
2,907,976.00
2,905,503.17
2,472.83
-
360,000.00
410,808.07
(50,808.07)
60,000.00
322,847.00
315,597.09
7,249.91
250,000.00
182,410.00
113,682.54
68,727.46
310,000.00
865,257.00
840,087.70
25,169.30
5,383,040.00
6,499,327.00
6,402,232.08
97,094.92
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Connection fees
Special assessments
Asset disposition
Other non-operating revenue
Transfers out
Total other financing sources and uses and special items
Net change in fund balances
Fund balances — beginning
Fund balances — ending
(2,359,740.00)
(3,476,027.00)
(2,822,048.48)
653,978.52
2,372,404.00
2,372,404.00
2,382,640.35
10,236.35
100,000.00
100,000.00
68,140.00
(31,860.00)
6,250.00
6,250.00
42,281.88
36,031.88
10,000.00
10,000.00
81,047.00
71,047.00
-
-
174.21
174.21
_
(5,000.00)
(5,000.00)
2,488,654.00
2,488,654.00
2,569,283.44
80,629.44
128,914.00
(987,373.00)
(252,765.04)
734,607.96
3,064,277.89
3,064,277.89
3,084,277.89
-
$ 3,193,191.89
$ 2,076,904.89
$ 2,811,512.85
$ 734,607.96
City of Cape Girardeau
Water
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
REVENUES
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
Intergovernmental
$
$ -
$ 31,855.68
$ 31,855.68
Residential charges
3,335,250.00
3,335,250.00
3,278,170.87
(57,079.13)
Commercial charges
2,359,500.00
2,359,500.00
2,280,538.04
(78,961.96)
Other fees and charges
196,000.00
196,000.00
169,260.45
(26,739.55)
Miscellaneous
16,200.00
16,200.00
16,884.38
684.38
Investment revenue
170,700.00
170,700.00
259,144.74
88,444.74
Total revenues
6,077,650.00
6,077,650.00
6,035,854.16
(41,795.84)
EXPENDITURES
Current
Contractual services
2,687,071.00
2,699,215.29
2,524,768.04
174,447.25
General operating expenses
205,300.00
205,300.00
175,139.56
30,160.44
�. Internal service expense
99,313.00
99,313.00
106,498.33
(7,185.33)
Material and supplies
1,070,666.00
1,065,086.35
1,047,433.64
17,652.71
rn
Personnel services
133,735.00
133,736.00
129,681.38
4,053.62
Special projects expense
115,000.00
115,000.00
134,081.70
(19,081.70)
Total current
4,311,085.00
4,317,649.64
4,117,602.65
200,046.99
Debt service:
$ 5,334,220.94
$ 5,334,220.94
$ 5,651,507.97
$ 317,287.03
Administrative charges
700.00
700.00
470.25
229.75
Interest
214,724.00
214,724.00
215,124.20
(400.20)
Principal
919,821.00
919,821.00
919,820.72
0.28
Total debt service
1,135,245.00
1,135,245.00
1,135,415.17
(170.17)
Capital outlay:
Capital Improvement Projects
288,750.00
288,750.00
255,739.11
33,010.89
Equipment
467,100.00
460,535.36
385,776.08
74,759.28
Other Capital Expenditures
39,000.00
39,000.00
17,246.40
21,753.60
Total capital outlay
794,850.00
788,285.36
658,761.59
129,523,77
Total expenditures
6,241,180.00
6,241,180.00
5,911,779.41
329,400.59
Excess (deficiency) of revenues
over (under) expenditures
(163,530.00)
(163,530.00)
124,074.75
287,604.75
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
120,000,00
120,000.00
128,000.00
8,000.00
Special assessments
2,300.00
2,300.00
15,932.28
13,632.28
Asset disposition
78,450.00
78,450.00
87,000.00
8,550.00
Transfers out
-
-
(500.00)
(500.00)
Total other financing sources and uses and special items
200,750.00
200,750.00
230,432.28
29,682.28
Net change in fund balances
37,220.00
37,220.00
354,507.03
317,287.03
Fund balances — beginning
5,297,000.94
5,297,000.94
5,297,000.94
-
Fund balances — ending
$ 5,334,220.94
$ 5,334,220.94
$ 5,651,507.97
$ 317,287.03
City of Cape Girardeau
Solid Waste
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
REVENUES
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
Intergovernmental
$ 17,000.00
$ 17,000.00
$ 25,994.57
$ 8,994.57
Residential charges
2,074,150.00
2,074,150.00
2,090,574.55
16,424.55
Commercial charges
29,000.00
29,000.00
30,748.78
1,748.78
Transfer station charges
992,800.00
992,800.00
1,056,265.30
63,465.30
Other fees and charges
86,000.00
86,000.00
86,542.39
542.39
Miscellaneous
48,000.00
48,000.00
33,708.88
(14,291.12)
Investment revenue
44,000.00
44,000.00
59,749.58
15,749.58
Total revenues
3,290,950.00
3,290,950.00
3,383,584.05
92,634.05
EXPENDITURES
Current:
—• Contractual services
1,203,648.00
1,244,499.30
1,258,358.84
(13,859.54)
C) General operating expenses
43,080.00
45,251.50
40,764.68
4,486.82
Internal service expense
205,032.00
205,032,00
196,109.60
8,922.34
Material and supplies
163,361.00
158,354.40
122,414.90
35,939.50
Personnel services
1,282,850.00
1,282,850.00
1,233,138.76
49,711.24
Special projects expense
98,500.00
95,198.80
100,425.68
(5,226.88)
Total current
2,996,471.00
3,031,186.00
2,951,212.52
79,973.48
Debt service:
Administrative charges
700.00
700.00
-
700.00
Interest
37,335.00
37,335.00
36,270.92
1,064.08
Principal
55,425.00
55,425.00
55,425.30
(0.30)
Total debt service
93,460.00
93,460.00
91,696.22
1,763.78
Capital outlay:
Equipment
31,710.00
36,995.00
39,616.39
(2,621.39)
Total capital outlay
31,710.00
36,995.00
39,616.39
(2,621.39)
Total expenditures
3,121,641.00
3,161,641.00
3,082,525.13
79,115.87
Excess (deficiency) of revenues
over (under) expenditures
169,309.00
129,309.00
301,058.92
171,749.92
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset disposition
2,800.00
2,800.00
-
(2,800.00)
Transfers out
-
-
(10,205.00)
(10,205.00)
Total other financing sources and uses and special items
2,800.00
2,800.00
(10,205.00)
(13,005.00)
Net change in fund balances
172,109.00
132,109.00
290,853.92
158,744.92
Fund balances — beginning
890,243.09
890,243.09
890,243.09
-
Fund balances — ending
$ 1,062,352.09
$ 1,022,352.09
$ 1,181,097.01
$ 158,744.92
0
00
EXPENDITURES
Current:
Contractual services
City of Cape Girardeau
19,963.00
16,895.77
3,067.23
Golf Course
7,400.00
7,400.00
8,601.65
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual
74,372.00
74,372.00
For the Year Ended June 30, 2009
36,478.15
Material and supplies
76,184.00
76,490.00
50,080.82
Variance with
Personnel services
Budgeted Amounts
334,510.00
Final Budget -
(10,374.97)
Special projects expense
9,700.00
Positive
4,538.59
Original Final
Actual Amounts
(Negative)
REVENUES
462,895.65
59,233.35
Debt service:
User fees
$ 402,646.00 $ 402,646.00
$ 295,596.40
$ (107,049.60)
Concession revenues
30,000.00 30,000.00
24,976.17
(5,023.83)
Investment revenue
1,000.00 1,000.00
2,551.47
1,551.47
Total revenues
433,646.00 433,646.00
323,124.04
(110,521.96)
EXPENDITURES
Current:
Contractual services
19,963.00
19,963.00
16,895.77
3,067.23
General operating expenses
7,400.00
7,400.00
8,601.65
(1,201.65)
Internal service expense
74,372.00
74,372.00
37,893.85
36,478.15
Material and supplies
76,184.00
76,490.00
50,080.82
26,409.18
Personnel services
334,510.00
334,510.00
344,884,97
(10,374.97)
Special projects expense
9,700.00
9,394.00
4,538.59
4,855.41
Total current
522,129.00
522,129.00
462,895.65
59,233.35
Debt service:
Interest
13,074.00
13,074.00
13,556.27
(482.27)
Principal
24,193.00
24,193.00
24,192.72
0.28
Total debt service
37,267.00
37,267.00
37,748.99
(481.99)
Total expenditures
559,396.00
559,396.00
500,644.64
58,751.36
Excess (deficiency) of revenues
over(under)expenditures
(125,750.00)
(125,750.00)
(177,520.60)
(51,770.60)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
125,750.00
125,750.00
128,310.60 2,560.60
Asset disposition
-
-
49,210.00 49,210.00
Total other financing sources and uses and special items
125,750.00
125,750.00
177,520.60 51,770.60
Net change in fund balances
-
-
- -
Fund balances -- beginning
5,212.01
5,212.01
5,212.01 -
Fund balances — ending
$ 5,212.01
$ 5,212.01
$ 5,212.01 $ -
0
City of Cape Girardeau
Softball Complex
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
REVENUES
Intergovernmental
$ -
$ -
$ 8.82
$ 8.82
User fees
65,300.00
65,300.00
82,620.31
17,320.31
Concession revenues
35,500.00
35,500.00
52,310.08
16,810.08
Miscellaneous
5,500.00
5,500.00
7,679.69
2,179.69
Investment revenue
1,600.00
1,600.00
1,090.82
(509.18)
Total revenues
107,900.00
107,900.00
143,709.72
35,809.72
EXPENDITURES
Current:
Contractual services
20,640.00
18,842.12
18,512.08
330.04
General operating expenses
3,500.00
1,940.00
507.51
1,432.49
Internal service expense
27,436.00
27,436.00
24,210.46
3,225.54
Material and supplies
65,490.00
76,507.88
75,527.04
980.84
Personnel services
367,528.00
379,103.00
369,142.14
9,960.86
Special projects expense
5,800.00
5,000.00
5,146.52
(146.52)
Total current
490,394.00
508,829.00
493,045.75
15,783.25
Debt service:
Interest
9,314.00
9,314.00
9,500.00
(186.00)
Principal
15,062.00
15,062.00
15,061.85
0.15
Total debt service
24,376.00
24,376.00
24,561.85
(185.85)
Capital outlay:
Equipment
6,860.00
-
-
Total capital outlay
6,860.00
-
-
-
Total expenditures
521,630.00
533,205.00
517,507.60
15,597.40
Excess (deficiency) of revenues
over (under) expenditures
(413,730.00)
(425,305.00)
(373,897.88)
51,407.12
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
413,730.00
413,730.00
373,160.88
(40,569.12)
Asset disposition
-
-
737.00
737.00
Total other financing sources and uses and special items
413,730.00
413,730.00
373,897.88
(39,832.12)
Net change in fund balances
-
(11,575.00)
-
11,575.00
Fund balances — beginning
5,000.00
5,000.00
5,000.00
-
Fundbalances— ending
$ 5,000.00
$ (6,575.00)
$ 5,000.00
$ 11,575.00
0
City of Cape Girardeau
Management Information Systems
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
REVENUES
133,000.00
116,679.58
120,493.00
(3.813.42)
Internal charges
$ 367,000.00
$ 367,000.00
$ 367,000.00
$
Investment revenue
2,000.00
2,000.00
5,538.31
3,538.31
Total revenues
369,000.00
369,000.00
372,538.31
3,538.31
EXPENDITURES
327.00
(9,673.00)
3,805.94
13,478.94
Current:
Contractual services
98,677.00
98,677.00
103,756.27
(5,079.27)
General operating expenses
4,045.00
4,045.00
899.31
3,145.69
Material and supplies
9,300.00
35,620.42
23,841.01
11,779.41
Personnel services
123,651.00
123,651.00
119,742.78
3,908.22
Total current
235,673.00
261,993.42
248,239.37
13,754.05
Capital outlay:
Equipment
133,000.00
116,679.58
120,493.00
(3.813.42)
Total capital outlay
133,000.00
116,679.58
120,493.00
(3,813.42)
Total expenditures
368,673.00
378,673.00
368,732.37
9,940.63
Excess (deficiency) of revenues
over (under) expenditures
327.00
(9,673.00)
3,805.94
13,478.94
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
-
-
-
Net change in fund balances
327.00
(9,673.00)
3,805.94
13,478.94
Fund balances — beginning
152,687.55
152,687.55
152,687.55
-
Fund balances — ending
$ 153,014.55
$ 143,014.55
$ 156,493.49
$ 13,478.94
City of Cape Girardeau
Fleet Management
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Debt service:
Interest
6,728.00
6,728.00
2,937.67
Variance with
Principal
Budgeted Amounts
9,750.00
9,750.00
Final Budget -
Total debt service
16,478.00
16,478.00
12,687.67
Positive
Capital outlay:
Original
Final
Actual Amounts
(Negative)
REVENUES
5,000.00
-
-
-
Intergovernmental
$
$
$ 92.85
$ 92.85
Internal charges
1,130,000.00
1,130,000.00
1,152,620.87
22,620.87
Investment revenue
18,272.00
18,272.00
11,859.93
(6,412.07)
Total revenues
1,148,272.00
1,148,272.00
1,164,573.65
16,301.65
EXPENDITURES
Current:
-
-
500.00
500,00
Contractual services
195,219.00
266,123.86
232,763.09
33,360.77
General operating expenses
4,850.00
3,150.00
1,633.22
1,516.78
Internal service expense
2,681.00
2,681.00
2,681.00
-
Material and supplies
258,345.00
295,440.14
288,338.93
7,101.21
Personnel services
649,240.00
622,940.00
617,932.91
5,007.09
Total current
1,110,335.00
1,190,335.00
1,143,349.15
46,985.85
Debt service:
Interest
6,728.00
6,728.00
2,937.67
3,790.33
Principal
9,750.00
9,750.00
9,750.00
-
Total debt service
16,478.00
16,478.00
12,687.67
3,790.33
Capital outlay:
Equipment
5,000.00
-
-
-
Total capital outlay
5,000.00
-
-
Total expenditures
1,131,813.00
1,206,813.00
1,156,036.82
50,776.18
Excess (deficiency) of revenues
over (under) expenditures
16,459.00
(58,541.00)
8,536.83
67,077.83
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
-
-
500.00
500,00
Asset disposition
-
3,560.30
3,560.30
Other non-operating revenue
6,817.72
6,817.72
Transfers out
(16,272.00)
(16,272.00)
(14,999.02)
1,272.98
Total other financing sources and uses and special items
(16,272.00)
(16,272.00)
(4,121.00)
12,151.00
Net change in fund balances
187.00
(74,813.00)
4,415.83
79,228.83
Fund balances — beginning
195,639.12
195,639.12
195,639.12
-
Fund balances — ending
$ 195,826.12
$ 120,826.12
$ 200,054.95
$ 79,228.83
City of Cape Girardeau
Fringe Benefits
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
REVENUES
Internal charges
$ 3,640,000.00
$ 3,640,000.00
$ 2,733,411.42
$ (906,588.58)
Miscellaneous
-
-
1,893.06
1,893.06
Investment revenue
4,000.00
4,000.00
29,994.95
25,994.95
Total revenues
3,644,000.00
3,644,000.00
2,765,299.43
(878,700.57)
EXPENDITURES
Current:
Contractual services
3,640,000.00
3,640,000.00
2,254,041.56
1,385,958.44
General Operating
-
2,185.07
(2,185.07)
Total current
3,640,000.00
3,640,000.00
2,256,226.63
1,383,773.37
Total expenditures
3,640,000.00
3,640,000.00
2,256,226.63
1,383,773.37
Excess (deficiency) of revenues
over (under) expenditures
4,000.00
4,000.00
509,072.80
505,072.80
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
-
-
-
Net change in fund balances
4,000.00
4,000.00
509,072.80
505,072.80
Fund balances — beginning
157,132.84
157,132.84
157,132.84
-
Fundbalances— ending
$ 161,132.84
$ 161,132.84
$ 666,205.64
S 505,072.80
REVENUES
Internal charges
Investment revenue
Total revenues
EXPENDITURES
Current:
Contractual services
General operating expenses
Material and supplies
Total current
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances — beginning
Fund balances — ending
City of Cape Girardeau
Risk Management
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
$ 522,457.00
46,500.00
568,957.00
541,457.00
25,000.00
2,500.00
568, 957.00
568,957.00
1,107,448.06
$ 1,107,448.06
$ 522,457.00
46,500.00
568, 957.00
891,457.00
25,000.00
2,500.00
918,957.00
918,957.00
(350,000.00)
(350,000.00)
1 1n7 eea na
Actual Amounts
$ 525,543.69
60,426.18
585,969.87
578,692.61
29,376.37
608, 068.98
608,068.98
(22,099.11)
(22,099.11)
1,107,448.06
$ 1,085,348.95
Variance with
Final Budget -
Positive
(Negative)
$ 3,086.69
13,926.18
17,012.87
312,764.39
(4,376.37)
327,900.89
327,900.89
$ 327,900.89
City of Cape Girardeau
Equipment Replacement
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2009
Budgeted Amounts
Original Final
REVENUES
Actual Amounts
Variance with
Final Budget -
Positive
(Negative)
Internal charges
$ 244,384.00
$ 244,384.00
$ 212,214.40
$ (32,169.60)
Investment revenue
60,000.00
60,000.00
80,461.91
20,461.91
Total revenues
304,384.00
304,384.00
292,676.31
(11,707.69)
EXPENDITURES
Current:
Material and supplies
-
11.00
11.00
Total current
-
11.00
11.00
Debt service:
Interest
-
7,750.00
7,750.00
-
Principal
-
55,000.00
55,000.00
Total debt service
-
62,750.00
62,750.00
-
Capital outlay:
Equipment
526,828.00
801,817.00
790, 881.04
10, 935.96
Total capital outlay
526,828.00
801,817.00
790,881.04
10,935.96
Total expenditures
526,828.00
864,578.00
853,642.04
10,935.96
Excess (deficiency) of revenues
over (under) expenditures
(222,444.00)
(560,194.00)
(560,965.73)
(771.73)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
-
-
7,205.00
7,205.00
Asset disposition
12,000.00
12,000.00
167,769.95
155,769.95
Transfers out
(85,263.00)
(85,263.00)
(85,263.00)
-
Total other financing sources and uses and special items
(73,263.00)
(73,263.00)
89,711.95
162,974.95
Net change in fund balances
(295,707.00)
(633,457.00)
(471,253.78)
162,203.22
Fund balances — beginning
1,643,330.71
1,643,330.71
1,643,330.71
-
Fund balances — ending
$ 1,347,623.71
$ 1,009,873.71
$ 1,172,076.93
$ 162,203.22
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECTION
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
16 So. Silver Springs Road
4018 Sycamore 105 So. Hope
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703 Jackson, Missouri 63755
Telephone (618) 734-3300 Telephone (573) 334-7971 Telephone (573) 243-3991
Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A- 133
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
Compliance
We have audited the compliance of City of Cape Girardeau, Missouri, with the types of
compliance requirements described in the U.S. Office of Management and Budget (OMB)
Circular A-133 Compliance Supplement that are applicable to each of its major federal programs
for the year ended June 30, 2009. City of Cape Girardeau, Missouri's major federal programs
are identified in the summary of auditors' results section of the accompanying Schedule of
Findings and Questioned Costs. Compliance with the requirements of laws, regulations,
contracts; and grants applicable to each of its major federal programs is the responsibility of City
of Cape Girardeau, Missouri's management. Our responsibility is to express an opinion on City
of Cape Girardeau, Missouri's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United States of America; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States; and
OMB Circular A-133, Audits of States, Local Governments, and Non -Profit Organizations.
Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirements
referred to above that could have a direct and material effect on a major federal program
occurred. An audit includes examining, on a test basis, evidence about City of Cape Girardeau,
Missouri's compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances. We believe that our audit provides a reasonable basis
for our opinion. Our audit does not provide a legal determination of City of Cape Girardeau,
Missouri's compliance with those requirements.
In our opinion. City of Cape Girardeau.. Missouri complied, in all material respects, with the
requirements referred to above that are applicable to each of its major federal programs for the
year ended June 30, 2009.
115
Internal Control Over Compliance
The management of City of Cape Girardeau, Missouri is responsible for establishing and
maintaining effective internal control over compliance with requirements of laws, regulations,
contracts, and grants applicable to federal programs. In planning and performing our audit, we
considered City of Cape Girardeau, Missouri's internal control over compliance with the
requirements that could have a direct and material effect on a major federal program in order to
determine our auditing procedures for the purpose of expressing our opinion on compliance but
not for the purpose of expressing an opinion on the effectiveness of internal control over
compliance. Accordingly, we do not express an opinion on the effectiveness of the City of Cape
Girardeau, Missouri's internal control over compliance.
Our consideration of internal control over compliance was for the limited purpose described in
the preceding paragraph and would not necessarily identify all deficiencies in the entity's
internal control that might be significant deficiencies or material weaknesses as defined below.
However, as discussed below, we identified a certain deficiency in internal control over
compliance that we consider to be a significant deficiency.
A control deficiency in an entity's internal control over compliance exists when the design or
operation of a control does not allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect noncompliance with a type of
compliance requirement of a federal program on a timely basis. A significant deficiency is a
control deficiency, or combination of control deficiencies, that adversely affects the entity's
ability to administer a federal program such that there is more than a remote likelihood that
noncompliance with a type of compliance requirement of a federal program that is more than
inconsequential will not be prevented or detected by the entity's internal control. We consider
the deficiency in internal control over compliance described in the accompanying schedule of
findings and questioned costs as item 09-1 to be a significant deficiency.
A material weakness is a significant deficiency, or combination of significant deficiencies. that
results in more than a remote likelihood that material noncompliance with a type of compliance
requirement of a federal program will not be prevented or detected by the entity's internal
control.
The City of Cape Girardeau, Missouri's response to the findings identified in our audit is
described in the accompanying schedule of findings and questioned costs. We did not audit the
City of Cape Girardeau, Missouri's response and, accordingly, we express no opinion on it.
This report is intended solely for the information and use of the Honorable Mayor, Members of
the City Council, federal awarding agencies, and pass-through entities and is not intended to be
and should not be used by anyone other than these specified parties.
BEUSSINK, HEY, ROE, SEABAUGI-i & STRODER, L.L.C.
Cape Girardeau, Missouri
December 17, 2009
116
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
16 So. Silver Springs Road
4418 Sycamore 105 So. Hope
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703 Jackson, Missouri 63755
Telephone (618) 734-3300 Telephone (573) 334-7971 Telephone (573) 243-3991
Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL, STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERN!LIEN7AUDITING STANDARDS
Honorable Mayor and Members of the City Council
City of Cape Girardeau. Missouri
We have audited the financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of City of Cape
Girardeau, Missouri as of and for the year ended June 30, 2009, which collectively comprise the
City's basic financial statements and have issued our report thereon dated December 17, 2009.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the City of Cape Girardeau, Missouri's
internal control over financial reporting as a basis for designing our auditing procedures for the
purpose of expressing our opinions on the financial statements, but not for the purpose of
expressing an opinion on the effectiveness of the City of Cape Girardeau, Missouri's internal
control over financial reporting. Accordingly. we do not express an opinion on the effectiveness
of the City of Cape Girardeau. Missouri's internal control over financial reporting.
A control deficiency exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A significant deficiency is a control deficiency, or combination
of control deficiencies, that adversely affects the City of Cape Girardeau, Missouri's ability to
initiate, authorize, record, process. or report financial data reliably in accordance with generally
accepted accounting principles such that there is more than a remote likelihood that a
misstatement of the City of Cape Girardeau, Missouri's financial statements that is more than
inconsequential will not be prevented or detected by the City of Cape Girardeau, Missouri's
internal control.
117
A material weakness is a significant deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that a material misstatement of the financial statements
will not be prevented or detected by the City of Cape Girardeau, Missouri's internal control.
Our consideration of internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and would not necessarily identify all deficiencies
in internal control that might be significant deficiencies or material weaknesses. We did not
identify any deficiencies in internal control over financial reporting that we consider to be
material weaknesses, as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether City of Cape Girardeau, Missouri's
financial statements are free of material misstatement. we performed tests of its compliance with
certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with
which could have a direct and material effect on the determination of financial statement
amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our
tests disclosed no instances of noncompliance or other matters that are required to be reported
under Government Auditing Standards.
This report is intended solely for the information and use of the Honorable Mayor, Members of
the City Council, federal awarding agencies, and pass-through entities and is not intended to be
and should not be used by anyone other than these specified parties.
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Cape Girardeau, Missouri
December 17, 2009
118
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2009
Federal Grantor/Pass-Through Grantor Program Title
U.S. DEPARTMENT OF DEFENSE:
Loan of DOD Property (non-cash)
U.S. DEPARTMENT OF HOUSING_ AND
URBAN DEVELOPMENT:
Passed Through Missouri Department of
Economic Development -
Community Development Block Grants/
State's Program and Non -Entitlement
Grants in Hawaii (1)
Passed Through Missouri Department of
Social Services -
Emergency Shelter Grants Program
Passed Through Missouri Housing Development
Commission -
Home Investment Partnerships Program
TOTAL U -S. DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
U.S. DEPARTMENT OF THE INTERIOR:
Save America's Treasurers
Federal
CFDA Program
Number Number
12. N/A
14.228 2004 -ND -05
2002 -ND -04
2007 -ND -801
2007 -DT -803
2008 -DN -02
14.231 ERO1640905
14-239 M -07 -SG -29-0100
15.929 N/A
Disbursements
$ 100,000
$ 42,734
36,950
250,000
75,000
14 $
404,698
Public Safety Partnership and Community
30,566
Policing Grants
102,558
Passed Through Missouri Department of
$
537,822
$
1,296
U.S. DEPARTMENT OF JUSTICE:
Passed Through the City of Poplar Bluff, Missouri -
Passed through the Southeast Missouri Drug
Task Force -
Public Safety Partnership and Community
Policing Grants
16.710 N/A $
Passed Through Missouri Department of
Public Safety -
Violence Against Women Formula Grant
16.588 2008-VAWA-0008 $ 14,725
2007-V AWA -0004 17,117
Bulletproof Vest Partnership Program
16.607 N/A
Edward Byrne Memorial Justice Assistance Grant
16.738 2007 -DJ -BX -1432 $ 1,852
Passed Through Missouri Department of
Public Safety -
Edw•ard Byrne Memorial Justice
958
31,842
1,459
Assistance Grant 16.738 2007-LBGJ-139 6,848 $ 8,700
TOTAL U.S. DEPARTMENT OF JUSTICE $ 42,959
The Accompanying Notes to Schedule of Expenditures of federal Awards
Are an Integral Pan of This Report.
119
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2009
Federal Grantor/Pass-Through Grantor Proglram Title
U.S. DEPARTMENT OF TRANSPORTATION:
Passed Through Missouri Department of
Transportation -
Airport Improvement Program
Highway Planning and Construction (1)
Highway Safety Cluster:
State and Community Highway Safety
Alcohol Impaired Driving Countermeasures
Incentive Grants I
Alcohol Open Container Requirements
Federal
CFDA Program
Number Number Disbursements
20.106 AIRE 055-77A
S 68,860
08-77A-1
90,076 S 158,936
20.205 DP -1503(002)
S 906
DP -1503(003)
35,959
ER -M008(002)
26,699
STP -1500(014)
5,685
STP -1500(015)
124,775
STP -1500(016)
40,000
SRTS-NI-H280(501)
2,162
SRTS-INF-H110(002)
67,952 S 304,138
20-600
20-601
20.607
09 -SA -09-01
08 -SA -09-02
09 -SA -09-02
08 -SA -09-03
09 -PT -02-29
08 -PT -02-24
LKK058
LKK047
08-K8-03-16
08-K8-03-18
08-K8-03-17
08-K8-03-19
LKK033
LKK040
TOTAL U.S. DEPARTMENT OF TRANSPORTATION
ENVIRONMENTAL PROTECTION AGENCY:
Passed Through Missouri Department of Natural
Resources -
Capitalization Grants for Clean Water State
Revolving Funds 66.458 C295229
Capitalization Grants for Drinking Water State
Revolving Funds 66.468 DW291010
TOTAL ENVIRONMENTAL PROTECTION AGENCY
The Accompanying Notes to Schedule of Expenditures of Federal Awards
Are an Integral Pan of This Report.
120
S 46,636
29,043
63,173
74,716
2,417
6,915
1,923
474
S 3,676
8,360
1,203
703
225,297
13,942
S 769
1,517 2,286
S 704,599
S 216,795
182,745
S 399,540
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2009
Federal
CFDA
Federal Grantor/Pass-Through Grantor Program Title Number
U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES:
Passed Through the Community Caring Counsel -
Substance Abuse and Mental Health Services -
Program
Number
Projects of Regional and National Significance 93.243 SDA42070104
U.S. DEPARTMENT OF HOMELAND
SECURITY:
Law Enforcement Officer Reimbursement Program
Assistance to Firefighters Grant
Passed Through Missouri State Emergency
Management Agency -
Disaster Grants - Public Assistance (Presidentially
Declared Disaster)
Citizen Corps
TOTAL U.S. DEPARTMENT OF HOMELAND
SECURITY
TOTAL FEDERAL AWARDS
(1) Identified major program.
97.090 N/A
97.044 N/A
Disbursements
S 1.157
$ 29.247
116,638
97.036 9FEMA-1748-DR-MO $
4,704
9FEMA-1749-DR-MO
90,279
#FEMA -1773 -DR -MO
35,520
#FEMA -1809 -DR -MO
163.386
9FEMA-1822-DR-MO
242.440 536,329
97.053 2007 -GE -T7-0034
20.779
S 702.993
$ 2.490.366
The Accompanying Notes to Schedule of Expenditures of Federal Awards
Are an Integral Part of This Report.
121
City of Cape Girardeau, Missouri
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Year Ended June 30. 2009
I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Purpose of Schedule and Reporting Entity:
The accompanying Schedule of Expenditures of Federal Awards has been prepared to
comply with OMB Circular A-133. This circular requires a Schedule of Expenditures of
Federal Awards showing total expenditures for each federal financial assistance program
as identified in the Catalog of Federal Domestic Assistance (CFDA) and identification of
programs that have not been assigned a CFDA number as "Other Federal Assistance".
The schedule includes all expenditures of federal awards administered by the City.
B. Basis of Presentation:
The Schedule is presented in accordance with OMB Circular A-133, which defines
federal financial assistance "...assistance that non-federal entities receive or administer in
the form of grants, loans, loan guarantees, property (including donated surplus property),
cooperative agreements, interest subsidies, insurance, food commodities, direct
appropriations, and other assistance, but does not include amounts received as
reimbursement for services rendered to individuals."
C. Basis of Accounting:
The Schedule is presented on the modified accrual basis of accounting, which recognizes
expenditures when liabilities for goods and services are incurred. This is the same basis
of accounting presented in the financial statements.
122
City of Cape Girardeau, Missouri
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the Year Ended June 30, 2009
1. SUMMARY OF AUDITORS' RESULTS:
Financial Statements
Type of Auditors' report issued: Unqualified
Internal control over financial reporting:
• Material weaknesses identified?
• Significant deficiencies identified that are not
considered to be material weaknesses?
Noncompliance material to financial statements
noted?
Federal Awards
Internal control over major programs:
• Material weaknesses identified?
yes X no
yes X none reported
yes X no
yes X no
• Significant deficiencies identified that are not
considered to be material weaknesses? X yes none reported
Type of Auditors' report issued on compliance for major programs: Unqualified
Any audit findings disclosed that are required to be
reported in accordance with Section 510(a) of Circular
A-133? yes X no
Identification of major programs.
CFDA Number Name of Federal Program
14.228 Community Development Block Grants/State's Program
and Non -Entitlement Grants in Hawaii
20.205 Highway Planning and Construction
Dollar threshold used to distinguish
between type A and type B programs: $300.000
Auditee qualified as low-risk auditee: X yes no
123
2. FINANCIAL STATEMENT FINDINGS:
No findings or questioned costs were noted that are required to be reported.
3. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS:
09-1 Procurement and Suspension and Debarment Requirements.
Program: Community Development Block Grants/State's Program
and Non -Entitlement Grants in Hawaii (CFDA No. 14.228)
and Highway Planning and Construction (CFDA No.
20.205).
Criteria: Internal controls must be in place to provide reasonable
assurance that procurement of goods and services are made
in compliance with the provisions of the A-102 Common
Rule and that covered transactions are not made with a
debarred or suspended party.
Condition: We noted covered transactions with seven different
contractors and subcontractors where their status to do
business with the federal government was not verified.
Questioned Costs: None.
Context: During the year ended June 30, 2009, payments of
approximately $715,500 were made to contractors that
qualify as covered transactions. Although none of the
recipients were disbarred or suspended, verification of their
status was not performed prior to the payments being made.
Effect: The lack of internal control could allow the City to make
ineligible payments without being detected.
Cause: Management oversight.
Recommendation: The City should put procedures in place to ensure that
when the value of a procurement contract exceeds $25.000,
the principals are not suspended or debarred.
124
Management's Response: As of January 1, 2010, the City's grant procedures will be
modified to have all requests for payments on grant related
projects approved by the City's grant administrator. Such
approval will be granted only after all contractors and
subcontractors involved have been verified not to be on the
Excluded Parties List. Additionally all future contracts on
grant related projects will include a certification
requirement for the primary contractor stating that no
contractor or subcontractor involved with the project will
be on the Excluded Parties List.
125
City of Cape Girardeau, Missouri
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
For the Year Ended June 30, 2009
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
08-1 Actual expenditures of the Airport, Motor Fuel, Softball Complex, and Fleet
Management Funds exceeded their approved budgets by $125,798, $4,532, $11.523,
and $191.904, respectively.
Status: Implemented.
126