HomeMy WebLinkAbout2010-2011.AuditReportCITY OF CAPE GIRARDEAU, MISSOURI
Cape Girardeau, Missouri
For the Year Ended Jillle 30, 2011
ANNUAL FINANCIAL REPORT
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
CITY OF CAPE GIRARDEAU, MISSOURI
TABLE OF CONTENTS
FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT
Page No.
1-2
REQUIRED SUPPLEMENTARY INFORMATION
MANAGEMENT'S DISCUSSION AND k'l'ALYSIS 3-18
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS 19-20
STATEMENT OF ACTIVITIES 21-22
FUND FINANCIAL STATEMENTS
GOVERNMENTAL FUNDS FINANCIAL STATEMENTS
BALANCE SHEET 23-24
RECONCILIATION OF THE BALANCE SHEET OF GOVEfu'lMENTAL
FUNDS TO THE STATEMENT OF NET ASSETS 25
STATEMENT OF REVENUES, EXPENDITURES, klW CHANGES
IN FUND BALANCES 26
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNrv1ENTAL 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 34-77
REQUIRED SUPPLEMENTAL INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL GENERAL 78
STATEMENT OF REVENUES, EXPENDITURES, AND
CIIANGES IN FUND BALANCES -BUDGET AND
ACTUAL AIRPORT 79
STATEMENT OF REVEl'.'UES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL PARK & RECREAI10N 80
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -TRANSPORTATION SALES TAX TRUST
FUND III 81
NOTES TO BUDGETARY COMPARISON SCHEDULES 82-85
SCHEDULE OF .FUNDING PROGRESS 86
SUPPLEMENTAL INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -VISION 2000 87
STA TE'v1ENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -CONVENTION AND TOURISM 88
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL DOWNTOWN BUSINESS DISTRICT 89
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL HEALTH 90
STATE'v1ENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL-MOTOR FUEL TAX 91
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES-BUDGET AND
ACTUAL -CAPITAL IMPROVEMENT SALES TAX
FLOOD CONTROL 92
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FeND BALANCES -BUDGET AND
ACTUAL -CAPITAL IMPROVEMENT SALES TAX
WATER SYSTEM IMPROVEMENTS 93
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FL'ND BALANCES -BUDGET AND
ACTUAL -TRANSPORTATION SALES TAX
TRUSTFL'ND 94
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FL'ND BALANCES -BUDGET AND
ACTUAL-CAPITAL IMPROVEMENT SALES TAX
SEWER SYSTEM IMPROVEMENTS 95
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN Fu'ND BALANCES -BUDGET AND
ACTUAL -TR;:\NSPORTATION SALES TAX TRUST FL'ND II 96
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FL'ND BALANCES -BUDGET AND
ACTUAL -FIRE SALES TAX 97
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -PUBLIC SAFETY TRUST 98
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -DEBT SERVICE 99
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FL'ND BALANCES -BUDGET AND
ACTUAL -GENERAL CAPITAL IMPROVEMENTS 100
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -STREET IMPROVEMENTS 101
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL PARK IMPROVEMENTS 102
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -COMMUNITY DEVELOPMENT BLOCK
GRA'IT PROJECTS 103
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGE IN FUND BALANCES BUDGET AND
ACTUAL -TRANSPORTATION SALES TAX TRUST
FUND IV 104
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -PARK STOR,\1 WATER SALES TAX 105
STA TEMb"NT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL PARK STORM WATER SALES TAX -CAPITAL 106
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -HOUSING DEVELOPMENT GRANTS 107
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -CASINO REVENUE 108
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -FAU GRA"!T PROJECTS 109
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -SEWER 110
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL-WATER 111
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -SOLID WASTE 112
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -GOLF COURSE 113
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -SOFTBALL COMPLEX 114
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -MANAGEMENT INFORMATION SYSTEMS 115
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -FLEET MANAGEMENT 116
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -FRINGE BENEFITS 117
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -RISK MANAGEMENT 118
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -EQUIPMENT REPLACEMENT 119
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECTION
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH REQUIREMENTS
THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR
PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN
ACCORDANCE WITH OMB CIRCULARA-133 120-121
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATIERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS 122-123
SCHEDULE OF EXPENDITURES OF FEDERAL A WARDS 126
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL A WARDS 127
SCHEDULE OF FINDINGS AND QUESTIONED COSTS 128-129
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS 130
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
16 South Silver Springs Road 105 South Hope 4018 Sycamore Cape Girardeau, Missouri 63703 Jackson, Missouri 63755 Cairo, lUinois 62914 Telephone (573) 334-7971 Telephone(573) 243-3991 Telephone(618) 734-3300
Facsimile (573) 243-3186 Fa<:simi1e (618) 734-3303 Facsimile (573) 334-8875
. INDEPENDENT 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, 20 II, 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, 20 II, 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 Vvlth Government Auditing Standards, we have also issued our report dated
December 23, 2011, 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 intemal 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.
Accounting principles generally accepted in the United States of America require that the
management's discussion and analysis and budgetary comparison information on pages 3
through 18 and 78 through 85 be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the
Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the required supplementary
information in accordance ",ith auditing standards generally accepted in the United States of
America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management's responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the
basic financial statements. We do not express an opinion or provide any assurance on the
information because the limited procedures do not provide us with sufficient evidence to express
an opinion or provide any assurance.
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of Cape Girardeau, Missouri's financial statements as a whole.
The combining and individual nonmajor fund financial statements are presented for purposes of
additional analysis and are not a required part of the 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-l33, Audits of States, Local
Governments, and Non-Profit Organizations, and is also not a required part of the financial
statements. The combining and individual nonmajor fund financial statements and the schedule
of expenditures of federal awards are the responsibility of management and were derived from
and relate directly to the underlying accounting and other records used to prepare the financial
statements. The information has been subjected to the auditing procedures applied in the audit of
the financial statements and certain additional procedures, including comparing and reconciling
such information directly to the underlying accounting and other records used to prepare the
financial statements or to the financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our
opinion, the information is fairly stated in all material respects in relation to the financial
statements as a whole.
BEUSSINK, HEY, ROE & STRODER, L.L.C.
~/~'Ik 'I~, d.G.
Cape Girardeau, Missouri
December 23,2011
2
CITY OF CAPE GIRARDEAU, .tYUSSOURI
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, 2011. The
intent ofthis discussion and analysis is to look at
the City's fmandal perfonnance as a whole.
Readers should also review the basic fmaneial
statements and related notes to those statements
to enhance their understanding of the City'S
financial perfonnance.
Financial Highlights
o The assets of the City of Cape Girardeau
exceeded its liabilities at the close of the most
recent fiscal year by $241,171,143 (net
assets). Of this amount, $29,728,938
(unrestricted net assets) may be used to meet
the City's ongoing obligations to citizens and
creditors.
o As ofthe close of the current fiscal year, the
City of Cape Girardeau'S governmental funds
reported combined ending fund balances of
$25,664,527. Approximately 4.9 percent of
this total amount, $1,248,674 is available for
spending at the government's discretion
(unassigned fund balance).
o At the end of the current fiscal year, the
unassigned fund balance for the general fund
was $1,411,069 or6.0 percent of total general
fund expenditures and transfers.
o At the end of the current fiscal year, general
fund balance reserved for emergencies was
$3,735,645 or 15.8 percent of total general
fund expenditures and transfers. This fund
balance had been reduced by $386,630 in
previous years pursuant to an emergency
declared as a result of a severe ice storm. The
city charter requires that reductions of the
fund balance reserved for emergencies as a
result of a declared emergency should be
replenished at least 10% annually. At the end
of the year the tot.1 amount originally
disbursed had been reimbursed.
o The City ofCape Girardeau's fixed assets
increased $1.079,978 during the year. Net
fixed asset additions of $12,296,363 Were
made during the year. Depreciation for the
currenl fiscal year reduced fixed assets by
$11,216,385.
o The City of Cape Girardeau's total long-term
debt decreased by $8,489,676 (J 1.9 percent)
during the current fiscal year. During the year
the City received fmal allocations totaling
$422,706 from a direct loan through tbe state
revolving loan program. A total allocation of
$1,000,000 had been authorized in the
previous year to complete construction of a
water transmission main from new well fields
to the City's main water plant. During the
year the City used proceeds from the sale of
land to the Isle of Capri and debt service
reserves to prepay $1,960,000 ofthe 2001
Certificates of Participation. These
certificates had originally been issued to
construct a manufacturing facility at the Cape
Girardeau Regional Airport. Regularly
scheduled principal payments and
amortization of bond premiums I discounts
resulted in outstanding long-term debt being
reduced by $6,952,382.
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 Ihree components:
I) government-wide fmancia! statements, 2) fund
financial statements, and 3) notes to the financial
statements. This report also contains other
supplementaty information in addition to the
basic fmancial statements themselves.
Government-wide financial statements.
The government-wide financial statements are
designed to provide readers with a broad
overview of the City ofCapc Girardeau's
[mances, in a manner similar to a private~sector
business.
The statement of net assets presents infonnation
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 ofwhether
the fmancial position of the City is improving or
deteriorating.
3
CITY OF CAPE GIRARDEAU, MISSOURI
The statement of activities presents information
showing how the City's net assets changed
during the most recent fiscal year. All changes
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 eamed but unused
vacation leave).
Both of the government-wide financial
statements distinguish functions of the City of
Cape Girardeau that are principally supported by
taxes and intergovernmental revenues
(governmental 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 sp~ndable resources, as well as on
balances of spendable resources available at the
end ofthe 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
financial statements. By doing so, readers may
better understand the long-term impact of the
government's near term 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 34
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 III, 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 except the special revenue funds that are
foundations and the capital project funds which
have project length budgets. 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.
4
CITY OF CAPE GIRARDEAU, MISSOURI
Proprietary funds provide the same rype of
information as the government-wide financial
statements, only in more detail. The proprietary
fund fmoncial 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, aggrcgated presentation in the proprietary
fund fm.ncial 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 Fin<illcial 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 ofa government's financial
position. The City of Cape Girardeau, assets
exceeded liabilities by $241,171,143, an increase
of $9,778,920 (4.2%). The City's $201,661,386
net investment in capital assets (land, buildings,
machinery, and equipment less related
outstanding debt used to acquire those assets)
makes up 83.6% of the City's net assets.
This net investment increased $6,395,035 (3.3%)
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 (4.1
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 $731,553 (8.1%) more
than the previous year. The remaining balance of
net assets ($29,728,938) is unrestricted and may
be used to meet the City's ongoing obligations to
citizens and creditors. This reflects a $2,652,332
(9.8%) increase 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
ActM!l Adwittes Total
2011 2010 2011 2010 2011 2010
Current and other assets 34,259.413 36,770,324 16,421,436 13.906,388 50,680.849 50,676,712
Capital assets 164,535.596 163.523,.667 98.531,896 98,463.847 263,067,492 261,987.514
T etal assets ~8.79s.o09 200,293.991 114,953.332 112.370,235 313.748.341 312.664,226
long-term lIabilities outstanding 36.838,770 40.981,943 22,030.103 24.916.665 58,868.873 65.898.608
Other liabilities 7.716,328 .. 3 924,574 5.991,997 5.448.821 13,708.325 15,373.395
Tota~ liabilities 44.555,098 50.908.517 28,022,100 30.365.486 72.577.198 81.272.003
Net assets:
Invested In capital assets.
Net of related debt 127.938,045 124,536.400 73,723.341 70.729,951 201.861.386 195,266.351
Restricted 5,147.781 4.863.514 4,633.038 4.365,752 9,780.819 9,049,286
Unrestricted 21.154,085 20,167,560 8,574,853 6,909,046 29,728.936 27,076.608
Total net assets 184,239,911 149.387,474 86.931.232 82,004.749 241,171.143 231,392,223
5
CITY OF CAPE GIRARDEAU, MISSOURI
Governmental activities. Governmental activities increased the City of Cape Girardeau'S net assets by $4,552,712
(compared to $2,872,043 in the previous fiscal year) thereby accounting for 46.6 percent of the total growth in the
nel assets of the City. Increases in net investments in capital assets during the fiscal year accounted for $3,401,645
or 74.7% of this year's increase of its governmental activities net assets.
City of Cape Girardeau's Change in Net Assets
Governmental Susiness4ype
aclivnies activities Total
2011 2010 2011 2010 6lU1 2010
Revenues;
Program revenue:
Charge. for service 4,723,907 4,811,586 14,013,089 12,666.105 18,736,996 17,477,691
Operating grants and
contributions 1,581,808 1,141,534 68,675 15,451 1,650,483 1,156,965
Capital grants and
contribution. 2,252,992 3,963,379 417,165 536,030 2,670,157 4,519,409
General revenues:
Property ta ••• 1,954,759 1.954,791 1,954.759 1,954,791
Sale. taxes 24,262,759 23.776,186 24.262,759 23,776.196
Otherla.es 8.893,241 8,224,566 8,893,241 8,224,566
Other 1,019,227 1,225,489 377,390 559,385 1.396,617 1,754,874
Special item 1,628,343 1,628,343
Total revenues 46,317,036 45,117,531 14,876,319 13,776,971 61,193,355 58,894,502
Expenses:
Administrative 5,505,796 6,049,429 5,505.796 6,049,429
Capitallmp",,,,,ments 432,699 225,344 432,699 225,344
Development Services 3,032,909 2,395,163 3,032,909 2,395,163
Interest and other costs 1,622,569 1,961,055 1,622,569 1,861,055
Parks and Re""'a60n 4,846,823 4,002,531 4,646,823 4,002,531
Public Safety 12,311,961 12.583,410 12,311,981 12,583,410
Public Works 6,956,715 6,731,851 6,956,715 6,731,851
Sewer 5,910,891 5,858,412 5,910,891 5.858,412
Wa!er 6,327,558 5,979,806 6,327,558 5,979,806
SolkiWaste 3.381,137 3,202,022 3,381,137 3,202,022
Gall Course 697,753 508,639 697,753 508,639
Softball Comple. 679,194 616,020 679,194 616,020
Total expenses 34,7Q9,482 33,848,783 16,996,533 16,164,899 51.706,015 50,013,682
Increase in net assets
before Iranslers 11,607,554 11,268,748 (2,120.214) (2,387.928) 9,487,340 8,880,820
Transfers (7,054,842) (8,396,705) 7,054,842 8,396,705
Increase in net assets 4,552,712 2,872,043 4,934,628 6,008,777 9,487,340 8,880,820
Ne! .ssets-beglnnlng 01 year 149,387,474 147,440,945 82,004,749 75,030,549 231,392,223 222,471,494
Inclusion of component units
not previously reported 314,728 314,728
Prior period adjustments (15.003) (925,514) (8,145) 965,423 (23,148) 39,909
Net assets-end of ye.r 154,239,911 149,387,474 88,931,232 82,004.749 241,171,143 231,392,223
6
CITY OF CAPE GIRARDEAU, MISSOURl
Activity in the following revenue and expense items should be noted for the current fiscal year:
Revenues from governmental activities
• Charges for service decreased $87,679 (1.8%) over the previous year. This year's revenue includes revenues
totaling $149,150 from foundations controlled by the City thai previously had nol been included as part ofthe
City's fmancial slalements. This year's revenue also includes a $150,000 paymenl from the Isle of Capri that
was advanced to the City to cover potential costs of the riverboat gaming licensing process. During the current
year the City did not host an air show. This reduced current year revenue by $466,705. Excluding the previous
year's air show revenue, current year's foundation revenue and the payment from the Isle of Capri, the
remaining service charge revenue would have increased $79,876 (1.8%) from the previous year.
• The following are other significant revenue changes that occurred during the current year. During the current
year the City implemented an electronic bill paying program which produced $34,706 in revenue in nine
months. Revenues from the Osage Community Centre and Cape Splash Family Aquatic Park increased $47,701
(34.5%) and $230,530 (67.0%), respectively. The increased revenue from the Osage Community Centre
resulted from increased activity at the facility while the increase revenue from Cape Splash represented the first
full year of operation of the facility. Revenues from municipal court and city pools decreased $202,786 (21.6%)
and $51,962 (34.7%) from the previous year. The municipal court revenue decrease resulted from a 24.2%
decrease in traffic violations while the revenue decrease at the city pools resulted from construction alone pool
and the closure of the other pool.
• Operating grants and contributions were $440,274 (38.6%) more than the previous year. During the current year
the City received $108,268 in payments from FEMA and SEMA for the reimbursement of costs associated with
flooding in the spring and intergovernmental revenue from the Cape County Special Road District totaling
$30,000 for the Bloomfield Road project. No revenues were received from these grants in the previous year.
This year the City received $76,064 from a Department of the Interior Preserve America Grant to market the
City's Downtown Historic District. No revenues were received from this grant in the previous year. During the
current year the City received $688,542 in payments from various neighborhood improvement grants, $403,262
from various police operating grants and S61,I85 from a SAFER grant to cover the portion of the personnel
costs ofthr.e additional flTefighters. During the previous year payments from these sources were $353,451,
$417,159 and $97,795, respectively.
• Capital grants and contributions decreased $1,730,387 (43.4%) from the previous year. In the current year
$186,622 of donated assets and infrastructure were recorded. This was $736,267 (394.5%) less than the
previous year. Benefiting property owners were charged $33,118 for a portion of this year's infrastructure
costs. This was $2,423 (7.3%) less than the previous year. This year grants tOlaling $98,834, $422,706,
$137,290, and $894,126 were received respectively for airport capital projects, water system improvements,
public safety equipment, and the Fountain Street project. In the previous year grants tOlaling $1,395,260,
$577,294, $261,963, and $16,401 were received for these projects respectively. The remaining grant and
contribution revenue received was $480,296 which was $293,735 (37.9%) less than the previous year.
• Property tax revenue was $32 less than the previous year. Final adjusted assessed value of real estate increased
$4,198,497 (1.0%) over the previous year. New construction 0[$5,523,840 and annexed property of$147,290
were included in this increase. Final adjusted assessed value of personal property decreased 3,420,388 (3.6%)
from the previous year. State law allowed the City to increase its levy rate by .5% during the current year.
7
CITY OF CAPE GIRARDEAU, MISSOURI
Revenues from governmental activities (continued)
• Sales tax revenue was 52.4% of the total revenue during the current year vs. 52.7% in the previous
year. This year's revenue was $486,573 (2.0%) more than the previous year. From fiscal year ending June 30,
2008 through fiscal year ending June 30, 2010 sale tax revenue, adjusted for new taxes, had annual growth rates
of .6%, (1.6%), and 1.6%, respectively.
• Other taxes increased $668,675 (8.1 %) from the previous year. Franchise taxes, cigarette taxes, convention and
tourism taxes, business licenses, and motor fuel taxes grew $513,776 (13.4%), $\3,016 (8.4%), $90,875 (5.4%),
$30,348 (2.6%), and $24,131(1.8%), respectively. Liquor licenses decreased $3,471 (5.1 %).
• Ameren paid 72.3% of the total franchise tax collected during the year based on its electricity and nattcral gas
revenues. During the current year Arneren paid $368,386 (13.3%) more than the previous year. Payments
received on natural gas sales only declined $19,468 (2.4%) from the previous year even though natural gas rates
were approximately 3.5% lower during the current year. Payments received on electricity sales increased
$387,854 (19.4%) as a result of rate that averaged 13.9% higher than the previous year and a summer that was
hotter than the previolls year.
• During the current year the City received payments in lieu of franchise taxes from its water and sewer funds
totaling $479,616. This was $32,312 (7.2%) greater than the previous year. In the current year the water and
sewer funds increased their residential and commercial rates by 5%.
• Franchise tax paid during the current year by the City's telecommunication and cable TV service providers
increased $97,065 (39.2%) and $16,013 (4.4%), respectively, from the previous year. During the year the City
received $49,600 in back taxes from T· Mobile.
• The increase in the convention and tourism taxes was comprised of $52,888 (4.6%) and $37,897 (7.3%)
increases in restaurant and hotel I motel taxes, respectively, from the previous year.
• Other revenue declined $206,262 (16.8%) from the previous year. Investment earnings, which accounted for
61.1 % of other revenue, decreased $497,393 (44.4%). The decrease in investment earning was partially offset
by a $250,791 gain recognized on property transferred to the Isle of Capri for a new gaming development.
• This year's financial statement reflected a special item totaling $1,628,343. During the year the City received
S2,000,000 from the Isle of Capri pursuant to a development agreement. This agreement designated the Isle of
Capri and its project site as preferred developer and site for a potential gaming facility and transferred various
properties from the Cjty to the Isle of Capri. The amount received by the City that was above the market value
ofthe properties transferred was treated as a special item.
Expenses from governmental activities
• Administrative expenses totaled $5,505,786 this year which was $543,643 (9.0%) less than the previolls year.
Excluding personnel costs, the most significant cost item included in this category is the City's support ofthe
"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 R;ver. The campus began operating in the fall of 2007. The total cost of the project exceeded
S60 million. The city's payments to Southeast Missouri State University increased $84,671 (7.5%) to
SI,216,097 this year.
8
CITY OF CAPE GIRARDEAU, MISSOURI
Expenses from governmental activities (continued)
Current revenues collected from the hotel, morel, and restaurant taxes not used for the operation ofrlIe
Convention Visitors Bureau are committed to pay off the "River Campus" bonds. Unspent hotel, motel, and
restaurant taxes collected before November 2004 are used to fund various tourism and economic development
related projects. During the current year the City spent $119,904 on such projects, a decrease of $64,804
(35.1 %) from the previous year. At the end oflhe current year there was still $346,107 available for expenditure
on future tourism and economic development related projects.
The current year includes the following significant changes in administrative costs: (I) amounts spent on natural
disaster events declined $71,486 to $88,041 (2) costs were reduced $457,202 as the result of not hosting an air
show in the current year (3) amount spent on Preserve America Grant related expenditures decreased $38,117
to $51,968.
• Capital improvements expenses totaled $432,699 this year which was $207,355 (92.0%) 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 $3,032,909 this year which was $637,746 (26.6%) more than previous
year. During the current fiscal year the City spent $79,897 for legal expenses and other costs related to the
gaming licensing process and development of agreement with the Isle of Capri for development of a new
casino. This year also included $27,621 in grant funded expenditures to estsblish bike routes throughout the
City. There were no similar expenditures in the previous year.
• $871,695 was spent on various neighborhood improvement projects during the current year. This was $501,343
(135.4%) more than was spent in the previous year.
• Interest and other costs totaled $1,622,569 this year which was $238,486 (12.8%) less than the previous year.
This decrease resulted from making scheduled principal and interest payments during the current and previous
year.
• Parks and recreation expenses totaled $4,846,823 this year which was $844,292 (21.1%) more than the previous
year. This year's expenditures include $81,052 and $407,504 in operating expenses from Shawnee Park Center
and "Cape Splash" family aquatic park, respectively. This was the first year of operation for the Sha",nee Park
Center which opened in the spring of2011 and the first complete year ofoperation for Cape Splash which
opened Memorial Day of201O. 80th facilities were constructed using the parks I storm water sales tax. Total
operating expense for Cape Splash was $138,196 in the previous year.
• This year's fmancial statements included expenditures totaling $137,691 from City controlled foundations that
were not included in the fmancial statements in the previous year. This year's depreciation costs were $837,596
which was $338,604 (67.90%) more than previous year. This mainly resulted from equipment purchases and
facility construction funded by the parks I storm water sales tax.
• Public safety expenses totaled $12,311,981 this year which was $271,429 (2.2%) less than the previous year.
Personnel costs totaled SI0,273,71O during the current year. This was $53,554 (.5%) more than the previous
year. Personnel costs include 3 ftre ftghter positions that were partially funded by a grant. Associated grant
revenue totaling $61,185 is included in the City's operating grant and contribution revenue for the cUITentyear.
Other grant related operating expenses declined $91,880 (21.5%) during the current year.
9
CITY OF CAPE GIRARDEAU, MISSOURI
Expenses from governmental activities (continued)
• Public works expenses totaled $6,956,715 this year which was $224,864 (3 ,3%) more than me previous year,
Included in mis year's expenses is depreciation expense totaling $4,736,008 which was $260,113 (5,8%) more
than me previous year and personnel costs totaling $1,094,012 which Was $29,304 (2.8%) more than me
previous year,
The current year includes me following significant changes in public works expenditures: (I) amounts spent on
traffic control maintenance declined $39,790 (80.1%) to $9,886 (2) intemallease charges for equipment
increased $16,157 (8.0%) to $218,183 (3) amount spent on street maintenance and snow removal supplies
decreased $36,177 (18.9"1;,) to $155,553,
Sot"''''''"",,,, ...
Golf Course )II-
AJblie V\brks """'" J
PUb" Sa!", I
Park$: 8. Recreetor, bt
'.,:~:::: i::: :::
Ii
1,500,000 3,000,(00 4,5ClO,IXXl 6,COO,OOO
........................•.... -~---
7,500,txXl 9000,000 10}SOO,0Q0 '2,OOQOOO
The illustration above makes it clear that all the governmental activities and business-type activities of me City
with the exception ofwaler 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 bom me
governmental and business-type activities.
10
CITY OF CAPE GIRARDEAU, MISSOURI
Revenues by Source
Governmental Activities
gra'1ls 49%
Proparty taxes
4.2%
, ,-0,,,,, ..,1
3.5%
item
Revflnv..fot gQVemmental activlUu
Qperaung Capital grants
The above chart summari7.e, the sources of
revenue from government activities. The three
main sources of revenue and their share oftotal
governmental revenues are sales tax (52.4%),
other taxe, (\9.2%) and charges for services
(10.2%).
The City's general sales tax represents 36.7
percent of the total sales tax revenue and 44.7
percent of the total general fund revenues. The
remaining sales taxes are for parks~ storm water,
transportation, sewer, water, and public safety
projects.
The general fund accounts for 64.9"10 and 29.1%
of the other tax and service charge revenue
respectively. This represents 29.1 % and 6.9% of
the total general fund revenues respectively.
Business-type activities. Business-type activities
increased the City or Cape Girardeau's net assets
by $4,934,628 (compared to $6,008,777 in the
previous fiscal year). Excluding transfers from
government activities, business-type net assets
decreased $2,120,214 and $2,387,928,
respectively, during the last two years. These
decreases were offset by transfers from
governmental activities totaling $7,054,842 and
$8,396,705, respectively, during the past two years.
Transfers of sales tax revenue for bond payments
totaling $1,702,899 and operating subsidy transfers
from the general and parks / storm water sales tax
funds totaling $836,147 make up 24.1 % and I J .9%
cfthi. year's total transfers. respectively. Last year
these transfers totaled $1 ,750,307and $879,323,
respectively and represented 20.8% and 10.5% of
that year's transfers. Transfers of water system
improvements to the water fund decreased $1,535,944
from the previous year to $1,160,583 this year. Park
and stormwater system improvement. totaling S741,272
and $74,972 were transferred to the sewer, golf, and
softball complex funds this year. Last year these
transfers were $2,552,677 and $573,158, respectively.
The net change in assets before transfers and general
revenues in the sewer, water, solid waste, golf. and
softball operations totaled $(2,035,535), $395,503,
(203,959), $(193,381), and $(460,232), respectively,
this year. This compares to $(2,424,206), SI07,013,
208,590, $(401,639), and $(437,070), respectively, in
the previous year.
r~:~~.i".......-.;; ~,;;,;--l
! Charge for ;I s.r"~
l__~~_.._..~._~._~~
Financial Analysis of tbe 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 oflbe City's
governmental funds is to provide infonnatlon on
near-term inflows, outflows, and balances of
spendable resources. Such information is useful in
assessing the City's froancing 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, 2011, the City's governmental funds
reported combined ending fund balances of
$25,664,527, a decrease of51,787,829 (6.5%) from
the prior year. Unassigned fund balances, which are
available for spending at the City's discretion,
accoont for 51,248,674 (4.9%) of the total fund
balances.
11
CITY OF CAPE GIRARDEAU, MISSOURI
The remainder of the fund balances are classified
as nonspendable, restricted, or assigned to
indicate that they are not available for new
spending. The following are the amounts and
classification of the remaining fund balances at
June 30, 20 11: (1) $1,077,475 is classified as
nonspendable because it is either (a) not in
spendable fonn or (b) legally or contractually
required to be maintained intact (2) $21,134,654
is classified as restricted because it can be spent
only for specific purposes because of restrictions
by external parties, constitutional provisions or
enabling legislation 3) $2,200,724 is classified as
assigned because its expenditure is constrained
by the City's intent to use it for specific
purposes.
The general fund is the chief operating fund of
the City. At the end of fiscal year ending June
30,2011, unassigned fund balance of the general
fund was $1,411,069 while total fund balance
was $6,450,686. As a measore ofthe general
fund's liquidity, it may be useful to compare
both unassigned fund balance and total fund
balance to total fund expenditures. Unreserved
fund balance represents only 6.0 percent of total
general fund expenditures including transfers.
However, included in the reserved fund balance
is $3,735,645, which had been reserved to meet
the City Charter's emergency reserve
requirement. This amount represents 15.8
percent of total general fund expenditures
including transfers and could be used if an
emergency was declared by the City Council.
The Govenunental 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 increased by $930,338
during the current fiscal year. However, the
General Fund Statement of Revenues,
Expenditores, and Changes of Fund Balance
prepared on a budget basis shows a corrent flSC'!
year increase of$980,504. Differences between the
amounts reflected in the two statements can be
found in the Notes to Budgetary Comparison
Schedules found on pages 82 to 85.
The original adopted general fund budget for the
fiscal year ending June 30, 201 1 had a surplus of
revenues over expenditures of$36,791. The
actual general fund results increased fund
balances by $980,504. Significant deviations
from this budget are detailed below:
o Sales tax revenue was $179,600 (2.06%)
more than the previous year, which was
$141,105 (1.61%) more than projected for the
adopted budget. The adopted budget projected
revenues that were 1% above the projected
fiscal year ending June 30, 2010 revenues.
Actoal revenue for fiscal year ending June 30,
20 I 0 increased 1.5 5% from than the previous
year while the budget had assumed it would
increase only 1 %.
o Franchise tax revenue was $513,775
(13.4%) more than the previous year. The main
factor leading to this increase was a $368,386
(13.3%) increase in revenues collected from
Ameren, the City's provider ofn.tural gas and
electricity. Payments received on natural gas
sales only declined $19,468 (2.4%) from the
previous year even though natoral gas rates
were approximately 3.5% lower doring the
current year. Payments received on electricity
sales increased $387,854 (19.4%) as a result of
rate that averaged 13.9% higher than the
previous year and summer that was hotter than
the previous year
During the current year the City received
payments in lieu of franchise taxes from its
water and sewer funds totaling $479,616. This
was $32,312 (7.2%) greater than the previous
year. In the current year the water and sewer
funds increased their residential and
commercial rates by 5%.
Franchise tax paid during the current year by
the City's telecommunication and cable TV
service providers increased $97,065 (39.2%)
and $16,013 (4.4%), respectively, from the
previous year. Doring the year the City received
$49,600 in back taxes from T-Mobile.
Franchise tax revenue was $523,500 (13.7"10)
more than projected for the adopted budget.
Franchise taxes from telecommunications,
City's water and sewer, electric utilities, cable
TV exceeded their budgets by $127,193
(58.5%), $20,422 (4.5%), $390,073 (2.5%), and
$1,716 (.5%), respectively. Franchise tax from
natural gas utilities was $15,904 (2.0%) below
it projected budget.
o Real estate and personal property tax
revenue increased $5,654 (.3%) over the
previous year and was $3,110 (.2%) less than
the projected budget.
12
CITY OF CAPE GIRARDEAU, MISSOURl
Final adjusted assessed value of real estate
increased S4,198,497 (1,0%) over the
previous year while final adjusted assessed
value of personal property decreased
3,420,388 (3,6%) from the previous year.
The adopted budget for the fiscal year
ending June 30, 20 II had assumed 1.0%
and 0,0% assessed value growth,
respectively, State law allowed the City to
increase its levy rate by ,5% during the
current year.
o Business license revenue increased
$30,348 (2,6%) over the previous year and
exceeded the projected budget by $25,591
(2,2%), The adopted budget for fiscal year
ending June 30, 2011 had projected
revenue that was equal to actual revenue
for fiscal year ending June 30, 2009.
o Other license and permit revenue was
$15,672 (7.2%) lower this year than the
previous year and was $16,702 (7.6%) less
than projected for the budget, The decline
resulted from a decline in construction
related pennits from the previous year,
o Intergovernmental revcnue exceeded
revenue projected for the budget by
$203,254 (34.4%). This year's
intergovernmental revenue included
$184,162 in revenues from various public
safety capital grants and $28,487 in disaster
relief payments from state and federal
agencies to make repairs to streets and
other items damaged during the previous
year's natural disasters.
o Service charges were $68,530 (4.5%)
less than the previous year but were
$58,185 (4,8%) more than projected in the
budget. Internal costs charged to various
parks capital projects totaling $56,908 had
not been anticipated in the original budget
o Fines and forfeits revenuc was
$181,913 (21.5%) less than the previous
year and was $168,618 (20,2%) less than
projected in the budget There was a 24,2%
decrease in traffic violation cases during
the years, The adopted budget for fiscal
year ending June 30, 2011 had assumed
revenue levels equal to year ending
February 2010 levels.
o During the current fiscal year expenditures
were $62,326 (.3%) more than original budget,
Debt service and operating expenditures were
less than their original budgets by $7,394
(4.4%) and $129,024 (,7%). Capital
expenditures were $198,744 (971,8%) more
than the original budget.
a Transfers to other funds for operating
subsidies were $16,449 (.4%) more than
original budget and transfers for capital
expenditures exceeded their original budgets by
$186,803 (12,051.8%),
Proprietary funds, The City ofCapc Girardeau's
enterprise funds are all presented as major funds for
purposes of this report. As a result, all statements
related to the enterprisc funds are presented at the
government-wide level. The City does have Internal
Service funds, which are reponed in total on the
Proprietary Fund Statement and consolidated with
other governmental activities on the government
wide statements.
General Fund Budgetary Higbligbts
Total expenditures and transfers on the final amended
budget were $789,900 (3.4%) more than the original
adopted budget. The changes that were appropriated
by the City Council can be summarized as follows:
o $23,000 to cover costs associated with
implementing electronic council agenda books
and costs associated with a customer service
survey to establish baselines for tangible results
measurements.
o $15,000 for the cost of equipment to be used at
the City's emergency operations center.
a $36,450 to cover the evaluation of the potential
purchase of the federal courthouse and
additional utility expense,
o $138,000 for costs related to the "Ride the
City" grant, the riverboat gaming license, and
other economic development costs,
o $$130,300 for costs related to grant funded
police vehicle accessories, bullet proof vests,
and CERT related expenses and other police
and fire operating expenses.
13
CITY OF CAPE GIRARDEAU, MISSOURI
o $11,350 for additional electricity costs
associated with the street department.
o $63,350 for additional part-time and
overtime salary costs, unbudgeted
unemployment assessments, additional
utility costs, additional vehicle fuel costs,
unbudgeted small equipment purchases,
and other parl::s and recreation operating
expenses.
o $207,300 for the purchase of land adjacent
to the police station and to cover the cost
of various grant funded projects.
o $13,150 to cover the purchase ofa truck
from the Water Fund and improvements
to the mausoleum.
o $95,000 general fund transfers to cover
shortfalls in the Airport, Softball Complex
and Public Safety Trust Funds.
a $30,000 general fund transfers to cover
the city's portion of costs associated with
grants in Housing Development Grants
and Park Improvement Funds.
o $27,000 general fund transfer to the
Equipment Replacement Fund to transfer
proceeds of the city auction.
Excess general fund revenues and unrestricted
fund balances were used to fund all
appropriations that did not have an identified
funding source.
During the year departments may transfer
budget appropriations between various
expense types within their department.
Capital Assets and Debt Administration
Capital Assets. The City of Cape Girardeau'S
investment in capital assets for its
governmental and business-type activities as
oflune 30, 2011, amounts to $263,067,492
(net of accumulated depreciation). This
investment in capital assets includes all land,
buildings and system improvements,
machinery and equipment, and infrastructure
owned by the City.
City Capital Asset.
50.6%
"lAnd
• BIliIding&fEquipmenl ;
I
o Wrutrw\\.O :
: CCQI'iIIn.!I:!lOom I
' Progre$$ _ .....
Major capital asset events during the current fiscal
year included the following:
o Construction costs totaling $3,775,170 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. $72,266 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 $1,428,322 on
water system projects were incurred this year.
Major water system improvements included
the installation ofplatforrns, foundations,
power supplies and controls to four new wells,
the addition of water main extensions, the
continuation of the two-inch water main
replacement program and the upgrade to the
Route W Booster Pump.
a Construction costs totaling $18,940 were
incurred for other improvements. These
projects included flood and storm water
control projects and police and ftre station
improvements.
14
CITY OF CAPE GIRARDEAU, MISSOURI
City of Cape Girardeau's Capital Assets
(net of depreciation) I
Governmental Business..fype
Acthlj~ A~tivit!~. Total
__2011 2010 2011 2010 2011 2010
Land 5,402,766 5,375,506 161,9S9 161,990 5,564,755 5,537,496
Buildings and
system
jmpfOve~ents 23,668,979 18,493,405 2.701,428 2,089,527 26,370.407 20,582,933
Improvements
other than
btJ;!dings 11,026,806 11.666,628 85,489,842 86,516.462 96,516648 98,183,090
Equipment 5,785,693 6,082,188 4,515,275 5,049.330 10,300,968 11,131,518
Infrastructure 116,018.659 115,973,947 116,018,659 115,973.947
Construction in
progress 2,632,693 5,931.992 5,663,362 4,646.538 8,296,055 10,578,530
Tota! 164,535,596 163.523,667 98,531,896 98.463.847 263,067.492 261,987,514
o Major improvements to the Airport's
Airfield, South Ramp and Taxiway
amounted to $98,834 in construction
costs. These were primarily funded by an
American Reinvestment and Recovery
Act grant and State Entitlement money,
o Through the Department of Energy
another ARRA grant was received to
implement energy efficiency and
conservation, Two projects were funded:
the installation of a new roof at the main
fire station and the purchase and
installation of 104 new LED streetlights.
o These projects cost $147,989 and $87,540
respectively.
o Department of Transportation funds were used
to partially fund the $278,791 spent to expand
the City's Irail system,
o In April 2008 voters approved a Y, cent sales
tax to pay for storm water and park
improvement projects. $74,128 and
$3,760,783 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 fmancial statements.
15
CITY OF CAPE GIRARDEAU, MISSOURI
City of Cape Girardeau's Outstanding Debt
Vear ended 2011
Governmental Business-type
Actlvit}:': Activities Total
2011 2010 2011 2010 2011 2010
Notes payable 692,646 737,605 870,117 930,125 1,5£2,763 1,667,730
Special
obhgation
bonds 4,839,002 5,661,524 1,150,626 1,289,046 5,989,628 6,950,570
Revenue bonds 16,218,078 16,362,923 22,961,375 25,770,915 39,179,453 42,133,838
Certificates of
participation 2,100,173 2,100,173
General
obligation
bonds
lea.ehold
revenue bonds 16,233,412 18,602,621 16,233,412 18,602,621
37,983,136 43,464,846 24,982,118 27,990,086 62,965,25£ 71,454,932
Long:!~ debt. At the end of the fiscal year,
the City of Cape Girardeau had total debt
outstanding of $62,965,255. Bonded dehl
outstanding totaling $39,179,453 is secured by
revenues of the sewer and water funds and
capital improvement sales taxes, The repayment
of the remaining debt is suhject to annual
appropriations,
The City's total debt decreased by $8,489,676
(-11.9"10) during the year, During the previous
year the City received a $1,000,000 ARRA direct
loan commitment from the State of Missouri to
be used to complete the new raw water
transmission main, At the end of the current year
the City had used the entire $1,000,000
commitment.
During the year the City used proceeds from the sale
of land to the Isle ofCapri and debt service reserves
to prepay $1,960,000 of the 2001 Certificates of
Participation, These certificates had originallY been
issued to construct a manufacturing facility at the
Cape Girardeau Regional Aitport.
Regularly scheduled principal payments and
amortization of bond premiums I discounts resulted
in outstanding long-term debt being reduced by
$6,952,382.
More information about the City's outstanding debt
can be found in note E to the fmancia! statements,
16
CITY OF CAPE GIRARDEAU, MISSOURI
Economic Factors and the Next Year's Budget
Residential development reflects the national
economy. Values of residential permits issued
during the year were 37.5% below the previous
year's values and was 81.4% below, fISCal year
ending June 30, 2007 values. Commercial
development remains steady. Values of
commercial permits issued during the year were
13, I % above the previous year's values and was
only 8,7% below, fiscal year ending June 30,
2007 values.
Commercial and residential permits valued at
$30.2 million and $5.1 million were issued this
year. Commercial and residential permits valued
at $26.7 million and $8.1 million were issued in
the previous year, Only 19 single family
residence building permits totaling $2,760,860
were issued during the current year compared to
34 totaling $5,222,898 in the previous year.
Local employment continues to be stronger that
state and national employment. The Cape
Girardeau County unadjusted unemployment rate
was only 6.7% in October 201l.This compares
favorably with the statewide and national
unadjusted unemployment rates which were of
8.5% and 9.0% respectively, The unemployment
rates were 7.3%, 9.4% and 9.6% for the county,
state, and nation, respectively, for the previous
October. City construction projects related to its
transportation sales tax and parks and storm
water sales provide significant support to local
construction employment.
During the year Blair Best Box purchased a
commercial facility previously occupied by
Thorngate Ltd., a high-end men's clothing
manufacturer that had ceased operations at its
Cape Girardeau plant. Blair Best Box made a
$2.5 investment in the property and hired
approximately 60 people to make recyclable
packaging,
In October 20 I °TJ Maxx opened a store in the
former Goody's store that had been vacant for
more 1.5 years. This store produced an additional
30 jobs,
Construction has also begun on an $8 million
retail facility that will house Menards, a home
improvement store. The new store is expected to
employ approximately 150 people.
In December 2010 the Isle of Capri announced plans
for a $125 million casino development in the
downtown area. Construction on the project began
this spring and should be completed and operational
by December 2012. The development should employ
approximately 450 people and produce an estimated
$3 million of additional annual tax revenue for the
City after its opening,
During the year the City continued to enhance ils
position as a regional medical center. Both hospitals
have recently opened major new facilities,
SoutheastHEAL TH opened a new Cancer Center and
Saint Francis Medical Center opened a Heart
Hospital and Cancer Institute.
Taxable sales subject to the City's general sales tax
increased 2.06% during the current year, Since the
City is heavily dependent on sales tax reVenue for
support of its general fund services, any growth of
local retail sales can have a positive 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 ree 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 fJJ1l 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.
Improying retail economy. Sales tax is a significant
revenue source of the City and is a barometer efthe
local economy. In the current year sales tax revenue
from the general sales tax increased 2.1 % while
inflation grew at J .8%. In the previous year sales tax
revenue from the general sales tax increased 1.6%
while inflation grew at ,8 %.
Although there has been some sales tax revenue
increase during the past 3 years, there has been very
little cumulative growth during those years, Sales tax
revenue for the fiscal year ending June 30, 20 II was
only 2.0% more than it was for the fiscal year ending
June 30, 2008. During that timeframe inflation
averaged increasing 1.5% per year.
The City's restaurant gross receipt tax and
hoteVmotel gross receipt tax increased 4.6% and
7.3%, respectively, during the current year. In the
previous year they increased 2.5% and decreased
12.0%, respectively,
17
CITY OF CAPE GIRARDEAU, MISSOURl
Regie.nal 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.
SALES TAX COMPAR1SON
FYOa FY09 FYIO FY11
Cape Girardeau 41.2% 41.1%1 41.7% 41,9%.
Carbondale 28.6% 21-7% 27,9% 27.9%
Jackson 9.9% 9,9% 9.5% 9.6%
Perryvme 7.1% 7A% 7,4'% 7.2%
Sikeston 13.2% 139% 13,5% 13.4%
1000% 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. During the
current year it appears that trend of the City
increasing its share of the local market is
continuing.
Local Economic Development.
During the current year the City provided
$50,000 of public improvements associated with
the new TJ Maxx store and entered into a
development agreement that will pay up to $2
million dollars for public improvements at the
new Menards store. These improvements will be
paid from addition.l sales tax generated from
this project.
In the previous 7 years 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 (NARS).
Payment made by the City pursuant to these
agreements totaled $164,415 during the current
year, Payments totaling $971,414 have been made
since the beginning of these agreements.
During the year the City spent $64,702 in 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 Girardeau area which includes
neighboring cities Jackson and Scott City and all of
Cape Girardeau County.
Budget for fiscal year ending June 30, 2012 and
financial condition The adopted general fund budget
for the fiscal year ending June 30, 2012, was
projected to produce a $2,229 surplus.
The adopted general fund budget included a 2% wage
increase effective July I, 2011 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 $64,990 in capital costs.
The current budget's health costs appear to have
stabilized as a result of a change to a more consumer
besed health coverage beginning January 1,2008.
Charges required to fund maximum estimated claims
did not increase January 1,2011 and will only
increase 3.0% on January 1,2012.
The City's current financial position had improved
during the past coupe of years and is good in that it
has more than adequate fund balance to cover
existing claims and potential emergencies. However,
its fmaneial 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, frre, and
various park divisions is still inadequate.
Requests for Information
This fmancial 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 fmances.
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.
18
BASIC FINANCIAL STATEMENTS
city of Cape Girardeau
Statement of Net Assels
For the Year Ended June 30, 2011
Governmental
Actlvitle.
Primary Government
Buslness-lype
Activities Total
-'C
ASSETS
Cash and cash equivalents
Investments
Taxes receivable
Utility charges receivable
Special assessments receivable
Interest receivable
Other receivables
Notes receivable
Motor fuel receivable
Grants receivable
Internar balances
InventO!)'
Prepaid ttems
Restricted cash and cash equivalents
Restricted lnvestments
Land
Buikiings
other improvements
Equipment
Infrastructure
Construction in process
Total ..sets
$ 3,367,824,74
23,240,724.16
4,421,245.09
486,463.02
114,847.67
327.435.60
246.642.86
116.155.53
596.803.40
534.598.73
221.604.26
585.068.40
5,402,765.51
23.668.979.26
11,026.806.39
5.785.692.46
116.018.65e.69
2,632,693.28
$ 198,795,009.05
$ 363,724,18
7,917,950.07
2,174,491.83
63,722.24
35,884.62
23.417.42
69,478.40
(534.586.73)
476,986.38
205.934.59
2,253.958.29
3.370.474.34
161,989.55
2.701,428.03
65,469,841.64
4,515,275,42
5,5e3.362.10
$ 114.953.332.37
$ 3,731,548.92
31,158,674.23
4,421,245.09
2.174.491.83
550,185,26
150,732.29
350,853.02
245,642,86
116,155.53
866,281.80
686.602.64
791,002.99
2.253.958.29
3.370,474.34
5,564.755.06
26,370,407.29
86,516,648.03
10.300.967.66
116.018.656.69
6,298,055.38
$ 313.748.341.42
LIABILITIES
Accounts payable
Salaries and benefits payable
Interest payable
Ottler liablUties
Estimated daims
Due to other governments
Unearned revenues
Estimated landfill post closure costs
Current portion long-term debt
Notes payable
Revenue bonds payable
Leasehold revenue bonds payable
N Special obligation bonds payable 0
Long-term debt net of current portion:
Notes payable
Revenue bonds payable
leasehokJ revenue bonds payable
Special obligation bonds payable
Compensated absenees payable
Net OPEB Obllgaton
T obIl UabliRies
NET ASSETS
Invested in capital assets, net of related debt
Restricted ror debt ..",iee
Restricted for depreCiation and replacement
Restricted for emergency fund
Restricted for Mausoleum
Restricted for Rlver Campus Project
Restrlcled for Local Access Channel
Restricted for Operation and Maintenance
Unrestricted
Total net assets
City of Cape Girardeau
Statement of Net Assels
For the Vear Ended June 3D, 2011
GOV9mmental
A<::UviUes
$ 1,967,047.47
657,364.96
551,578.62
246,642.09
298,000.00
2,206.77
67.967.60
25.122.00
1.235,800.00
1.895,000.00
835,000.00
667.524.22
14,982.278.23
14.338,411.64
4,004,001.51
816.676.02
1,962,477.00
44,555,098.33
127,938,045.12
21,529.13
4,910,136.00
90,265.62
107,923.84
4.754.91
13.170.76
21,154,085.34
Primary Government
Business-type
Activities Total
$ 1,328,203.75
177,603.10
446,201.35
582,643.53
63,983.68
45,500.00
30.004.00
3,203,000.00
130,000.00
840,113.00
19,758.374.27
1,020,626.43
131,343.37
284.504.00
$ 3,295.251.22
834.968.06
997,779.97
831,285.62
298,000.00
66,190.45
67,967.60
45,500.00
55,126.00
4,438,800.00
1,895,000.00
965,000.00
1.607,637.22
34,740,652.50
14,338,411.84
5,024,627.94
948,019.39
2,226,981.00
28,022.100.48 72,577.198.81
73,723,340.65 201,661,385.77
1,121,666.67 1,143,195.80
1,577,000.00 1.577,000.00
1 ,934,372.00 6.844,508.00
90,265.62
107,923.84
4.764.91
13.170.76
8,574.852.57 29,728,937.91
$ 154,239,910.72 $ 86,931,231.89 $ 241,171,142.61
Clty of Cape Girardeau
Statement of Ac::tlvltles
For the Year Ended June 30. 2011
Proaflllm Revenue$
Net (Expense, Reyenue and
Changes In Net Assets
Function$IProvf'8j1l$ e)Cl)e'nses
Charves for
Services
OperaUng Grants
and ContTibutlons
capital Grants
ond
Contributions
GovernmentalAe_.
Prima!! Government
SU$lness..type
ActivIties Total
Primary government:
Governmental adivlttes:
Administrative
Capital improvements:
Oevelopment Setvk:es
Interest and other costs
Parks and Recreation
Pubiic Sate\)!
Pub!lc:works
$ 5,505,788.20
432,.696,61
3,032.9<19,13
1,622,56Q.46
4.648,822,47
12,311,981.43
8,S5e,714.84
$: 1,562.862.40
802,589.47
1,430,198.66
766,219.20
140,039.46
$ 228,365.66
656,542.34
40,306.66
46s,323.23
136,268.24
$ 50,368.31
763,703.25
174,346.51
143,290.50
1,121,263,57
$ (3,644,169.61)
331,004.64
(1,541,n7.32)
(1,622,569.46)
(3,201,970.60)
(10,914,146.50)
(5,557,123.35)
$ $ (3,644,169.61)
331,004.$4
(1,541,n7.32)
(1,622,569.46)
(3,201.970.60)
(10,914,146.50)
(5,557,123.35)
N-
Total governmental ac11vlties
BU$ine$$~type Activities:
Golf Course
sewer
Soltball Complex
SOlid Wa.te
Water
34,709,481.94
697,753.49
5,910,891.12
879,193.51
3,381,138.88
8,327,558.19
4,72.3,907.23
485,149.23
3.713,799.35
218,485,62
3,175,656,13
6.-419,796.50
~lt1JI9-'~,~?:_
58,934.65
1,319,51
10.420,30
19,222.90
104,622.41
478,17
292,844.01
(26,150,n4.20)
(193,381.36)
(2.035,534.71)
(460,231.52)
(203.959.24)
395,502.62
(26,150,n4.20)
(193,381.36)
(2,035,534.71)
(460,231.52)
(203,959.24)
395,502.62
Totm busines!rtype adiyitie&
Total primary government $
16,996,533,19
51,706.015.1;L
14,013,OS9.03
$18,736,996.28 $ 1.650.462.63 $: 2,870,157.63 (26,150,774.20)
(2,497,604.21)
(2,497,604.21)
(2,497,604.21)
(2B,648,378,41)
See Accompanying Notes to Ba8.ic: Financial Statements.
City of Cape Girardeau
Statement of Acttvlties
for the Year Ended June 30, 2011
Program Revenues
Net (Expense) Revtnuaand
Changesln Net Assets
functlonSIPrograms Expense.
Chargea for
ServlC9$
Operating Grants:
and Contrlbutlons
Capital Gran1$
and
Comributlons
Governmental
Activities
Primary Government
BusinKS·type
AcUvitles Total
IV
IV
Primary government:
Governmental activities:
General revenues:
Property la)."
Sales t.nes
Frandlise taxes
Motor rue! taxes
Convention and to\Jrism taKes
Merchant Iloenses
Uquor licenses
Qthertaxes
Unrestricted grants and Q'.)nLibutions
Unrestricted investment eamings
Gain on sale of assets
~rnonHlperatingrevenue
Special item
iransfers
iotaf general revenues
Change in net assets
1,954.159.00
24.262,758.a8
4,351,897.33
1,355.945.43
1,166,534.92
1,186,590,81
64,927.57
167,345.35
l09,Z86.n
623.24U9
286,697.98
1,62B.343.32
F1054,841.98l
30?03!48e,37
4.552,712.17
321,153.52
55,005.93
1,230.61
7!054:841.98
7:4321232.04
4,934,627.83
1,954,759.00
24,262,758.68
4,351,897.:33
'1,:355,945.43
1,166,534,9Z
1,166,59Q,81
64,927.57
187,345.35
109,286,77
944,394.71
341.703.91
1,230.61
1.628.343.32
3S!135?18.41
9,487,340.00
Net assels -beginning
Prior period adjustment
Net assets ending
149,702,202.29
,15I OO3.74 Z
$ 154,239,910.72
82,004,748.65
!8,144.591
$ 86,931,231.89
231,706,Q5CU:l:4
123,148.33)
$ 241,171.142,61
See Accompanying Notes 10 Basic Firnmcial Sraterrtents.
FUND FINANCIAL STATEMENTS
City of Cape Girardeau
Balance Sheet
Governmental Funds
For Ihe Year Ended June 30, 2011
N.....,
ASSETS
Current assets:
Cash and cash equivalents
Investments
Recejvable~
Real estate taxes. net
Personal prop<>rty laXes, net
Sales tax
Franchise taxes
Hotel & motel tax
Restaurant tax
SpecIal assessments
Other
Interest
Motor fuel tax
Vehicle license fees
Motor vehicle saSes tax
Grants
Other funds
Inventory
Prepaid items
Total Current a.aol.:
Noncurrent assets:
Advances to other funds
Total Noncurrent assets:
Total assets
$
$
General
150.571.46
3,092,870.66
54,511.65
10,157.31
887,281.55
1,758,484.52
101,528.73
87,541.15
10,404.33
317,675.81
285,059.02
195.75
125,999.25
6,882,291.19
916,441.97
916,441.97
7,798,733.16
_
$
$
~;rport
2,137.06
47,366.62
157,074.47
167.74
89,125.28
29,960.71
16,722.00
342,593.88
342,593.88
Park and
Recreation
$ 31,849.70
692.099.47
60,246.80
2,558.96
7,913.45
2,871.41
797,539.81
$ 797,539.81
Trans Sales Tax
Trust Fund III
$ 257,843.68
5,670,913.85
8,932.13
20,458.30
57,790.62
6,015,938.58
$ 6,015,938.58
Park Proj from
Parks Sales Tax
$ 244,585.41
665,441.03
582.50
17,136.26
1,227,945.20
$ 1,227.945.20
$
$
Olher
Governmental
Funds
2,475,207.63
8,280,233.72
17.168.02
1,902.51
1,537,144.55
59,589.95
94,995.03
384,934.29
3,126.31
48,867.91
84,170.57
12,192.20
19,792.76
131,446.69
12,230.14
13,941.04
13,176,943.32
13,176,943.32
Tolal
Governmental
Funds
$ 3,162,294.94
18,748,945.35
71,679.67
12,069.82
2,424,426.10
1,758,484.52
59,589.95
94,995.03
486,463.02
317,603.36
99,593.52
84,170.57
12,192.20
19,792.76
596,038.40
285,059.02
50,320.05
159,533.70
28,443,251.98
916,441.97
916,441.97
$ 29,359,693.95
City of Caps Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2011
LIABILITIES AND FUND
BALANCES
Current liabilities:
Accounts payable
Salaries and benefits payable
Other Ilabll~l.s
Due to other governments
Payable to other funds
Unearned revenues
Deferred revenues
$
General
495,651.09
'143,609.80
176,551.23
17,000.00
215,234.65
$
Airport
125,549.06
22,107.73
47,559.55
1,694.00
Pall< and
Recreation
$ 215,158.72
98,190.95
20,081.27
49,273.60
Trans Sal •• Tax
Trust fund III
$ 203.275.48
Pall< Proj from
Pam Sales Tax
$ 394,522.47 $
Other
Govemmenlal
Funds
365,901.49
4,810.31
4,450.17
2,206.64
285,059.02
507,279.32
Tolal
Governmental
Funds
$ 1,800,058.31
568,718.79
248,642.22
2,206.64
285,059.02
67,967.60
722,513.97
Total Current liabilities: 1,348,046.77 196,910.34 362,704.54 203,275.46 394,522.47 1,169,706.95 3,695,166.55
'" .... Non current IJabHfties:
Advances from other funds
Total Non current liabilities:
Total liabilities 1,348,046.77 196,910.34 382,704.54 203,275.48 394,522.47 1,169,706.95 3,695,166.55
Fund balances:
Nonspendable
R..tricted
Assigned
Unassigned
1,044,541.22
3,828,565.53
166,510.21
1,411 ,069.43
16,722.00
128,961.54
2,871.41
411,963.85
5,812,663.10 833,422.73
13,340.04
10,663,003.14
1,493,288.36
(162,395.17)
1.077,474.67
21,137,654.50
2,200,723.97
1,248,674.26
Total fund balances 145,683.54 414,835.27 5,612,663.10 833.422.73 12,007,236.37 25,664,527.40
Tolaillabilities and fund
balances $ 7,766,733.16 $ 342,593.68 $ 797.539.81 $ 6,015,938.58 $ 1,227,945.20 $ 13,176,943.32 $ 29,359,693.95
City of Cape Girardeau
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Assets
For the Year Ended June 30,2011
Fund balances of governmental funds $ 25,664,527.40
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.
(39,416,998.31)
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds, net of accumulated depreciation of
$67,609,949.27.
162,694,571.98
N v.
Intemal service runds 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 avaHable to pay for current-period expenditures and,
therefore are deferred in the funds.
5,980,586.01
722,513.97
Other accrued expenses which are not payable from current-period revenues
are included In governmental activities in the statement of net assets,
<1,405,290.33)
Net assets or governmental actlvitles $ 154,239,910.72
Cfty of Cap. GlrardeaLl
Statement of ReV1tn1,f". Expendlb.lrH, and Chang" 11'1 Fund Bnlanee.
GoYemmental FundS
Foriha Yaar Endfld June 30, 2(111
General A!!p?"
Pari< "'"
Recreation
tfRflS Sale. Tax
Trutt Fund III
Peri; ProjedJ from
PwM Sates Til)(
0_Gov<1n_,F,,,,,,,
Total
GovemmenIBlFund.
REVENueS
Ta_
UC8n3eS & pel'lTlltl
$ 15,080,989.21
1,388,588.45
$ $ $ 2,610,513.33 • • 14,853,164.54
7,396.00
$ 32,544,887.08
1,395,964.415
IOtergcrvemmentai 826,79227 220,563,14 894,125.55 3,096,937,$ 5,038,418.34
Charge'S fa"~' 115,3B8Jr.} 327,804.94 1.155,058.11 56,530"" 1,816,792.22
Internal charges 1,100,161.53 803,32 1,100,964.f.15
Fil1H and forfeits 857,413,3$ 857,413.36
MI.~ 486,014.95 206,561.12 14,$5.68 91,119.72 780,281.47
Irtve$tmf!nl revenue 00,966.52 704.34 6,793.31 116,SG2.72 27,665.41 294,018.69 537,000.00
Speclat asMumenls 19,649.37 137.036.42 156,685.79
Tood reveMles 19,904,996.61 757,639.54 1,119,220.42 3,621,301.60 27,6&5.41 16,536,260.99 44,029,084.57
EXPENDITURES
Current:
Admlnilllitative 1,744,658.13 1,152.193.33 1,937,528.68 4,834,300.14
Capltallu!p(o.enlef'lts 19,355.16 1'a,3S5.16
De~Selvice8 2.026.847.18 60.949.76 979,261.24 3,Q9,()7a.18
Parka and Remladoo 1.769,440.35 2,091,282.49 112,910.13 3,913,/332.91
Pubtic Sslety 11,381 , t 71,42 306,926,92 11,890,100.34
2,227,359'{)7 2:a7,359.07""'"'W.
N Debt $mvIC8:
0'1 AdministraBw! ehergK 1,091.711: 67,488.53 58,580.32
Inlerell 67,361..52 1,533,543.00 t.(9oo.905.18
PI1rn:ipal 91,000,00 5,7IW,558.78 5,880,558.78
CapilAd (rutiay 159,755.10 17,409,25 3,439,347.96 3,760.762.96 2,633,006.35 10,010,901.64
TOOri ~IIUfes 19,470,664.55 1.152.193.33 2,106,691.74 3,500,:297.72 3,78Q.13(U4 13,362,846.29 4],374,851:18
E,xeess (dellClency) or
menuelOVef
~diturea 434,312.05 (394.553.79) (929,411,32) 121,003,68 (3,752,472.73) 5,175,414.70 654,232.79
OTHER FINANCING
SOURCES (USESI
Trensfers out (4,207,84L4S) (261,782,00) (1,615,52) (246,384.19) (' 2,094,376.67) (16,813,9&0.83)
T",nsfen In 4,611.316.n 723,624.25 1,068,996,25 350,000.00 415,363,52 4,400.417.88 11,733,740.77
Bond prooeeds 422,700.30 422,706.30
As.ard~ 26,350." 47.50 8,274.98 250,791.00 295,464.40
TQlSI other htldnQ
SOUI'CS9andu3es 496.026.24 461,600.15 1.093,456.71 35<),000,00 187,019,43 (5,941),481,49) {4,312.0e9.36}
Nel Change in I\md
balances befont Jpedaf Item 930,338.29 67,335.96 163,985.39 471,003,68 (3,585,453.30) (1.165,046.79) (,):,117,836.57)
Spedalltem 1,628,343.32 1,6za:.343,32
Nel C~in fund
balances after special Item 930,336.29 57.335.96 163,965.39 471,003.86 (3,585,"''''') (136,103.<1) (2,089,493,25)
Fund ba~~ begilming 5,520.348.11 1W,852.B6 250,549.68 5,341,659.22 4,418,376.03 12.145.49'3.34 27,787.0S4A4
Pr10r period m:l~ (O.01! !11,505.2!!) ~1.558.50) p3.063.19)
FUfId balances-ending • 6A50,009,39 • 145,663.54 414.635.27 $ 5,812,683.10 $ 833,422.73 • 12,007,236,31 $ 25,664.527.40•
CIty or CaPt' Girarde_",
Reconemalion of the 51l1tsnutnt of Revenues, Expenditures,
and Cluing... In Fuod S4loncas of Govammenllli Funds, to the 5l11tM'lent of ActlviUes
For the Va.,r Ended June 30, 2011
N9I dlenge in fund bataoc:ea "",,,olel governmental fund. $ (2,009,493.25)
Amounls reported for go'i'fHnmanJel aclivitfN In Ihe !l.a!emetII of activities
life different because:
Reductiorts of debt am reported in the fund financial
slelamenf5 as an expense but 8ffl not Inciuded In lhe
govtmment IMde al8ternent of aclivtUes.
4,941,166.00
Go~fund report capital ouJeys ... upenditutes.
Howeve(, irI!he lMlement Of adlvitlOfl, the COGI of Ihole
a~ets am: allOcated OYeftheir estimated llsetullllfes and
reported 8Il depredatiOn expo8'l1$f!:. Thialilllhe 8JITtOl.Ini by
WhIdl depnK.tatlon expense exceeded ~I ouUays 11'1
U1e CUIl'9f'I! peslod,
1,045,553.37
ftltemei seNiC1l fund. 0J13! used by ~nt to d:\at'gtI
Ule a'.l$ts cit f'OfInagement information systems, ftUt
management, employee frtnge beneIIils, WO!'IIrnerl's
cmnpensellon. cutd equfpment roplflQllm9flllO Individual
I\.Inds.
£74,133.26
N
-..l 0Ihef long.1atm 85selll are noIavallabie to pay for currem
period eJ(p8l'1ditullls and" thererore are deferred in \h$
funds.
(112,947.41)
Some e:.peo.sea reported in Ihe atatement of activllles do nol
rnquA!he ute of current tInandel IlISOllI"Cft and, lherafote,
are notreported a8 expendItUreS In glM!fM'lOfllal tunas,
94,300.26
Chal'l\)O: In net a!Wt1a of govemmerrtaJ aQivilies $ 4,552.112.17
ASSETS
Current assets:
Cash and cash equivalents
Irwestmenls
Ulililies charges, net
Special assessments
Other
Notes receivable
Int.""'t
Grants
Inventory
Prepaid llems
T etal Currents assets:
.....
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
City of Cape Glrard.au
Statement of Net Assets
Proprietary Funds
For the Ye.r Ended June 30, 2011
Buslness"type Activities .. Enterprise Funds
Sewer Water Solid Waste Golf Course Softball Comelex
$ 141,428.47
3,068,987.79
858,593.20
47,809.21
21,133.97
8,167.85
56,996.53
101,196.47
4,304,313.49
2,138,838.49
137,787.49
49,750.00
8,078,346.00
3,233,150.07
70,319,679.35
1,693,214.01
(32,642,779.34)
$ 155,955.63
3,397,856.35
883,287.37
15,913.03
428.01
22,454.91
10,850.41
454,499.78
77,428.03
__5_,018,671.52
114,946.02
3,227,871.95
223,646.63
1,962,248.77
48,170,888.46
3,951,424.19
(13,346,935.86)
$ 56,942.91
1,245,985.09
432,6\ 1.26
2.62
4,507.43
1,319.51
26,513.82
1,767,882.84
$ 3,687.61
80,719.37
1,773.17
297.13
6,514.74
656.92
93,848.94
$ 5,709.56
124,401.47
79,65
457.30
311.95
15,963.96
141.35
173.78
4,814.90
112,239.55
1,051,146.72
3,616,293.99
333,132.92
7,391.00
(2,422,746.64)
140,253.00
134,468.93
1,972,744.42
11,332.90
(601,478.45)
931.264.25
148,376.37
1,557,842.35
(152,796.65)
Total
Proprietary
Funds
$ 363,724.18
7,917,950.07
2,174,491,83
63,722.24
23,417.42
35,884.62
69,478.40
476,998.38
205,934.59
11,331,601.73
2,253,958.29
3,370,474.34
161,989.55
10,424,656.60
9,094,538.13
122,354,087.50
5,663,362.10
(49,166,737.14)
Gov. Activities
Internal Service
Funds
$ 205,529.80
4,491.778.81
9.832.24
246,842.86
15,254.15
765.00
171,284.21
96.251.96
5.237,339.03
37,500.00
53,906.45
4,588,507.14
155,653.19
10.526.18
(3,005,089.35)
53,007,966.07 44,304,090.16 2,484,486.12 104,156,329.37 1,841,023.61
$ 57,312,299.56 $ 49,322,781.68 $ 4,470,328.86 ..~ 1 ,75(),gg9. 74 $ 2,631,571.26 $115,487,931.10 $ 7,078,362.84
Cil;y of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Vear Ended Jun. 30, 2011
Business~type Activities· Enterprise Funds
Total Gov. Activlties
Proprietary Internal Service
Sewer Water Solid Waste Goff Course Softball Comelo. FundS Funds
LIABILITIES
Current liabilities:
Accounts payable $ 464,113,95 $ 644,742,13 $ 130,187,21 $ 20,185,59 $ 68,974,87 $ 1,328,203,75 $ 166,969,16
Salaries and benefit. psyable 105,566,24 17,208,62 70,218,41 48,856,12 67,097,08 308,946.47 51,373.00
interest payable 393,454,47 35,600,00 17,146,88 446,201,35 237,50
other liabllities 248,037.79 220,018,82 105,265,42 9,321,50 582,643,53
Estimated claims payable 296,000,00
Due to other governments 16,729,97 45,253,71 63,963,66
Deferred revenues
Payable 10 other funds
Advances from other funds
Notes Payable 6,750,00 23,254,00 30,004,00
Revenue bonds payable 2,238,000,00 965,000,00 3,203,000,00
N SpeCial oblig bonds payable 130,000,00 130,000,00 40,000,00
\0 Tolal Currenlliabllnies: 3,474,652.42 __1,927,823.28 476,011.92 76,363,21 136,071,95 6,092,982,78 556,599,66
Noncurrent liabilities:
Net OPEB Obligation 124,171,00 22,186,00 81,120,00 27,999,00 9,026,00 264,604,00 116,419,00
Advances from other funds 562,817,85 191,135,80 142,488,32 916,441,97
Not•• Payable 169,000,00 651.113,00 840,113,00
Revenue bonds payable
Special oblig bonds payable
18,040,378,66 1,717,995,61
1,020,626.43
19,758,374,27
1,020,626.43 40,914,73
Est landfill post closure cost 45,500,00 45,500,00
Total Non current liabilities: 18,353,549,66 1,740,161,61 2,381,177,28 219,134,80 151,516,32 22,845,559,67 159,333,73
Totaillabil~ies 21,826,202,08 3,668,004,69 2,857,249.20 297,496,01 287,588,27 28,938,542.45 715,933,39_
NET ASSETS
Invested in capital assets, net of related 30,337,526.43 36,347,025,74 896,979,56 1,657,320,80 2,454,486,12 73,723,340,65 1,761,155.41
Restrided for debt service 1,121,666,67 1,121,686,67
Restricted for depr .nd replacement 127,000,00 1,450,000,00 1,577,000,00
Restricted for emergency fund
Unrestricted
557,193,00
4,462,376,05
892,481,00
3,843,563,38
464,698,00
231,402,10 (203,649,07) (140,503,13)
1,934,372.00
8,193,009,33 4,601,273,84
Total net ....ts $ 35,464,097.46 $ 45,654,756,79 $ 1,613,079,66 $1,453,471,73 $ 2,343,962,99 86,549,368,65 $ 6,362,429.25
Adjustments LQ refhK:t lhe CO'!1S<lliduUon <Jt internal service fund actMlJes related to I31'lterpris9 fund$' net assets of buSiness-lype activities
$
381,543,24
86,931,231,89
City of Cape Girardeau
SlBtement of Revenues, Expens8$, and Chsng" In Fund Net Aneta
Proprietary Funds
For the VHf Ended June 30, 201t
Sewer Water Golf Course Son""l1 CompleX
Total
Proplielaty
Funds
Gov. ActiVities
lnlemal Service
Funds
Operating revenues:
_1Cl1a'll"S
com_I chalges
TranSfer statiOn charges
Olher lOeB and Charge.C__
I_charges
US3gefees
Miscellaneous.
Total operating revenues
$ 2,140,334,16
1,442,662,73
52,797,16
7,315.28
813.19
_~.~.J~~_~__
$ 3,661,020,96
2,556,351.67
163,537,72
161686.12
6,419,796.50
$ 2,139,499,36
32,099,33
696,156,05
64,177.95
$
36,380.63
447,242.45
$
54.935.11
3,715.65
152,964.05
6 1B51.01
.... 216,4<I!i,~_
$ 7,960,854.51
4,033,313.73
696,15a.o5
300,512.85
91,295.74
11,030.93
500,226.50
50,021.91
13,it43".¢12,2:l
$
5,404,066AO
11207.90
5,405.274.30
t.J
0
Operating expenses:
Personnel services
Malerlals & sopplles
Contractual services.
General operating expenses
Special ptOgmms
Intemal service ex.penses
Depreciation
Total operating e~penses
Openoting Income (loss)
1,605,017.96
461,564.29
772,605.80
203,355.92
15,670.62
167,383.94
2 11461176.63
5.371 1997.56
(l,727,875,02)
153,003,94
1,152,019,39
2,111.392.47
340,196,62
252,493,61
101,052.&0
114471088.71
6,156,909.62
260,686.66
1,040,664,56
231,004.86
1,279,638.16
31,176.46
78,560.34
240,213.26
455,283.02
3,383,150.66
(187,322,55)
390,235.23
96,169.42
26,355.36
5,9e6.05
5,636.10
44,955.49
448,086.34
129,187.90
12,n6.90
12,n7.43
32,014.90
24.486.67
24,916.39
664,252,53
~65!768.71)
3.631,030.05
2,018,025,86
4,804,768.71
591,016.51
381.795.97
576,904,24
4 1192j 989.50
16,274,590.64
~~3_1_,178,62)
764,251.99
374,160.13
3.154,001.51
34,499.27
3,992.00
344 1523.16
4,G95A28.06
709,84624
Nonopetating revenues (ex.penses)
Intergovernmental
Investment revenue
Gain from sale of asset
Other non-operating revenue
Interest alld other charges
Issuance cost amortiZation
Loss from sale ot asset
Transfers out
Total nonoperatirlg revenue!'t (e~penMsj
56,996.53
161,696.07
3,695.00
(576,532.65)
(15,535,79)
(374,776.64)
119,255.41
125,497.64
22,659.37
1,230.61
(162,850.10)
(15,205,23)
90,787.70
1,319.51
32,113.79
13,942,86
(51,509.68)
(5,169,61)
(811.54)
{l1.23513)
1,063,47
13,546,90
(10,562.32)
311.95
780,55
760.00
(7,750.43)
(4,565.651
pO,463.56)
177,683.40
321,153.52
55,005.93
1,230.61
(811 ,205, 16)
('O,230,69)
(911.54)
(4,565.65)
(301,639.80)
765,00
85,350,20
1,233.58
9,656.34
(3,993.31)
(546.01)
110,698.28)
81,769.52
Income (lOSS) before contr1tMions and transfers (2,102,653.66) 351,674.38 (198,557,68) (207,030,91) (475,250,29) (2,632,818.42) 191,615.76
ContJibuted capital -conned tee
Contributed capltal-develOpers
Contributed capital· dOnatfons
COntributed capita! -government
Transfers in
Transfers out
Change In net assets
69,676,51
104,560.53
93,611.26
4,505,480.69
(3,500.00)
2.867,155.45
184,008.90
1,160,583.21
6,290,02
1,704.556.51 (196.557,66)
19,222.90
195.78
105,412.09
722,600.35
468,916.43
713.268.49
e8,676.51
268.569.43
19,222.90
1,976,990.82
5,086,061,23
13,500,00,
4.804,2U;,57
'LI,737.17
!14 j 814.412
804,538.52
Tot4Il net assets beginnlng
Prior period adjustment
Total net assets ending
32,818,833.11
(',891,06,
$ 35,484.097.48 $
43,956,453.79
,6:253,51!
45,554]56.79
1,811,837.34
$ 1,613.079.86 $
1,535,611.93
1.453A71.13
1,&30,714.50
$ 2,3431 982,99
61,753,310.57
(8,144.5!!)
$ 66,549,366.85
5,551,890.73
_!~62,429.25
Adjustments to refiect the conSOlIdation of internal service fund activities related to enterprise funds,
Change In net assets of buSiness-type activities.
130,405.28
$ 4,934,827.83
• •
City of Cape Girardeau
Statemaot of Cuh FloW'S
Proprietary Funds
For the Vear Ended June 30, 2011
Bu~ness-type ActlvlUes -Enterprise Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customEn
Receipts from interfund services
Oiher receipts
Payments to supplters
Payments for salaries and benefiW
Payments for lnterfund services used
Payments made In fieu of franchise taxM
Remittance of taxe$. coUected from customers
Sewer Water SolidWasle Golf Course
$. 3,235,543.70 $ 6.642,178)13
7,315.28
5.279,10
(1.075,519.82> (3,898.297.16>
(1,573.130.67/ (134,946.45)
(110.5046.68) (53,182.06)
(161,451,06) (316,155.21)
(16,233.60) (254,466.56)
3,085,9&3.85 533,701.25
32,099.33
854.60 320,00
(1,567,381.56) (199,955.47)
(1,fJ27.83fUi9j (377,43M6)
{240,213.26} (48,579:.49)
SoflDall
Complex
• 291,030,10
3,715.65
(242.120.77)
{431.301.G2}
(24,48U7~
Govemmeot
Total Acijvllie.
Proprietary Internal Service
Funds F'unds
$ 13.188,437.94 • 102.381,14
43,130.26 5,300,044.26
6,453,70 1,907.00
{1.003.681.38) (3,906,555.53)
(3.544.451.09) {144.711.62)
(547,110.Hi) (4,850110)
(419,616.21)
{270,150.36)
Net cash provkled (used) by operating odIvilie. 245,948.95 1,918,319.49 263,700.2$ (92,049" 17) (403.7G4.91} 1,992.212.GIl 748.156.15
V.l-CASH FLOWS FROM NQNCAPITAL FINANCING ACTIVITIES
TraO$klrs trom other funds
Transfers to other furn:ts
Advance repayment to other funds
Interest paid to other funds
Subsidy from federal grant
Subsidy from state grant
254,668.8\
9,736.96
{430.11)
2,051.56
{31,182.15}
(11,110.89)
1.4.t4.98
104.562,09
(2S.1D4.24.)
(10.$62.32)
606.41
466.918.43
(t&,825.47)
(1.150,43)
(275.25)
21.03
835,147.33
(8O.5n.B6)
t29,483.S4)
(705,36)
13,631.(10
(t4,8'>4.41)
(226.56)
270,51
Net C8sI1 (used) by "on",p;lal financing 274,403,11
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Capital contributions 84,852.59
Principal received on promissory note
Interest received on promlseory nole
Proceeds from sales of capital assets 32,622:.52
Purchase of capital assets (1SS,330.t'JO)
Acquisition and construction of cap{tal assets (1.283,335.00)
Principal pakl on cap'lal dellt (1.7B5.92IlOO)
Interest paid on capri.al debt 11t3.958A2}
Transfers in for (;8pltal acquisition$. 2.534,394.88
Transfers out for capital acquisitions
r,ansfef$ in for payment of capital related debt 1,702.899.00
Net cash (used) by capital and related financing
activities 38&.219.048
1,621.45
113,578.21
23,594,35
(SS,B68.76)
(34O,466..1J5)
(925,000.001
(t44.270,25)
8,290.02
(1,319,963.22)
{46.936.06)
14,261.74
(99,717.25)
3.958.00
(181,S08.00)
(26,S11.82)
(289,611,104)
67,902.00
13,548.90
(3,364.76)
850.00
11,034.14
442,286.31
275,25
'80m
0.00
(3,11122)
(4,se5.65)
(6,641,62)
739,271.41 (14,170.46)
198,106.11
84,797.5f
14,814.41
4,457.06
1,233.58
(340,736.02)
(1.626,325.92)
(2,092.4"".00)
(884,""•.211)
~543.534.90
(4,565.65)
1,102,899.00
(261.005.47)
(15,201,81)
{040.OOIl.OO)
('~SO.OO)
27,731,17
(10.698.28)
l1.218.9104.36) (343,573.34)
City of C$pe Girardeau
Sta-.n,of C..h Flows
Proprietaty ':unds
For the Yaaf Ended June 30, 2011
Busln••s-type Activities ~ Enterprise Funds
Sewo, Waler Solid Waste Golf eo"",,"
Softba'
Complex
Totel
Proprietary
Funds
Government
Activities
Internel Service
Funds
W
N
CASH FLOWS FROM INVESTING ACTlVmES
Irnerest received 169.976,68 171,644,51
Net change in pooled investmem ('.....216...) (a<J3.......6)
Proceeds from sales and maturities of investments 695,000.00
Purchase of investments (7'5.000.00)
Net cash provided by investing tctiviliee (1.376.242.17) (732.000.37)
Net Increase (decrease) in cash and cash
equivalents (....611.97) (72.022.65)
Balances -beginning of year 2,749,936.93 342.924.30
Balances -end of the year $ 2,260,266.96 $ 270,901.65
Reconciliation of operating Income (Iou) to net cash provided (used) by operating activities:
$
4~,811.3a
2.894.24
44,705.62
(28,149.30)
B5.265.00
51,tH1.69
1,163,72
9,490(,34
10,658.06
(2 ......971
6,142.58
$ 3,687.61 $
....22.
(30,S24.47)
(29.570.25)
2,305.53
3,404.03
5,700.$5 $
385,750,51
(2.448.259.82)
695,000.00
(715,000.00)
(2.062.509.11)
(56 ......361
3,167,675133
2.617.662.47
111,857.34
(541,357.24)
345,963.9«
(350.246.()9)
(433,762.05)
(43,949.70)
249,479,50
$ 205,529.80
Operating income (loss)
Adjustments to reconcile operating income to net
coSh provided (used) by opel1l!lng actlviti..:
Oepreciatioo e..:pense
Changes in assets and liabilities:
Accounts payable ~ auppfl8r
Accounts payabfe ~ other
S.I..... & _fits payable
Customer receiviilbles
Other operating receivables
Prepaid expenses
Inventory
Net cash provided by opereting actMUes
$ (1.727.675,02)
2,146,116.63
211,953.50
(901.26)
31,867.2.9
(403."'.581
(11,500.79)
$ 245,946,00
$ 262.117,29
1,447,886,71
281,44().32
17,952.41
16,051,411
{21.475.76)
(2,741.39)
{24,659,58)
$: 1,97B,379.49
$
$
(161.322.55)
<W5,283.Q2
19,972.19
5,G4l.57
13,047,69
(3e,243.24}
«.060.70)
263,100.28
$
$
(211.101,02)
116,720.55
(11.137.31)
1,123,10
12.799.71
(1.522.11)
25.90
(957.99)
(92,049,17)
$
$
{465,766,71)
24.916,39
22,007.80
16,1B6.52
274.07
144.37
(2,129,35)
(403.764.91~
$
$
(2,329,948.01)
4,192,G89.50
530,236.44
23,152.50
92,576.9{I
{410.1J.31,22}
(18,218.51)
(27,946.92)
1,992,212.64
$ 710,917.92
343.391.4a
(310,257.47)
39,4a0.31
(1,641.00)
4,156.59
(1,471.26)
(37,060.48)
$ 148,156.15
See AcoomPMlnying Noles 10 BasiC Fil\ill1dal Statef'l"lin'lls.
City of Cape Girardeau
Statement of Net Assets
Fiduciary Funds
For the Year Ended June 30, 2011
ASSETS
Ca.h and cash equivalents
Investments
Real e.tate taxes
Personal property taxes
Other
Inte",st
Total assets
w w
UABllomeS
Accounts payable
Salaries and benefits payable
Other liabilities
Total Uabil~les
Agency
Funds
$ 678,614.94
2,119,983.55
52,663.96
10,114.01
2,035,13
9,277.76
$ 2,872,909.37
$ 37,635.37
24,458.27
2,810,814.73
$ 2,872,909.37
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
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. The financial statements of the CGPFA are
included in the accompanying financial statements ofthe City. The Cape Girardeau Municipal Development
Foundation (CGMDF), the Cape Girardeau Public Safety Foundation (CGPSF), and the Cape Girardeau
Parks Development Foundation (CGPDF) are also component units of the City. The financial statements of
these foundations are included as special revenue funds in the accompanying financial statements.
The CGPFA is a not-for-profit corporation organized and existing under Chapter 355 of the Revised
Statutes of Missouri. The CGPF A board of directors consists of City officials and City Council members.
Due to the significant City influence and financial accountability, the activities of the CGPFA are blended
with the financial presentation of the City. The CGPFA executed a bond indenture for the purpose of
issuing and securing the Series 2009 Bonds. These bonds will be used for the construction ofvarious storm
water control improvements, Cape Splash Family Aquatic Center, Shawnee Park Community Center, and
various other park related improvements. The CGPFA has entered into a Lease Purchase Agreement with
the City from which the lease payments will be used solely to retire the debt.
The (CGMDF), (CGPSF), and (CGPDF) are not-for-profit corporations organized and existing under
Chapter 355 ofthe Revised Statutes ofMissouri. The (CGMDF) and (CGPSF) board ofdirectors consist of
City officials and the (CGPDF) board ofdirectors consists ofPark and Recreation Board members and one
City Council member. Due to the significant City influence and financial accountability, the activities of all
three foundations are included in the financial presentation of the City. All three foundations were
established to receive charitable donations to be used for the benefit ofthe City.
Although not a component unit of the City, the City handles the funds of and provides accounting and other
services for the Cape Girardeau Public Library. Since the library's funds are held by the City, this entity is
shown as an Agency Fund in the financial statements.
34
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
2. Government-Wide and Fund Financial Statements
The government-wide financial statements (Le., the statement ofnet assets and the statement ofactivities)
report infonnation on all of the nonfiduciary activities ofthe primary government and its component units.
The effect ofinterfund 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 I) 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, artd fiduciary funds,
even though the latter are excluded from the government-wide finartcial statements. Major individual
governmental funds and major individual enterprise funds are reported as separate columns in the fund
financial statements.
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide finartcial statements are reported using the economic resources measurement focus
artd the accrual basis ofaccounting, as are the proprietary fund finartcial statements. Revenues are recorded
when earned and expenses are recorded when a liability is incurred, regardless ofthe timing of related cash
flows. Grants artd 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 fmancial 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 ofthe 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, f'rartchise taxes, special assessments, licenses, interest revenue, and
charges for services. Sales taxes collected artd 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 finartcial resources measurement focus, only current
assets and current liabilities are generally included on the balance sheet.
35
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE A -SUMMARY OF SIGNIFICANT ACCOL'NTING POLICIES -Continued
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 airportfund accounts for the resources used in the operation and maintenanee of municipal airport
facilities.
The parks and recreationfond accounts for the resources used in the operation ofpark 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.
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation -Continued
The City reports the following major proprietary funds:
The sewer fond 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 aceounts for the operation of the City's residential solid waste and recycling
programs.
The golffund accounts for the operation of the municipal golf course.
The softball complexfond 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 fonds 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 fonds account for the operations of the Cape Girardeau Public Library.
36
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEtv1ENTS
June 30, 2011
NOTE A -SUMMARY OF SIGl\'IFICAl\'T ACCOUNTING POLICIES -Continued
Private-sector standards of accounting and financial reporting issued prior to December I, 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 tc 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 tc 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 various functions concerned.
It is the City's policy to first use restricted net assets prior tc the use of unrestricted net assets when an
expense is incurred for purposes for which both restricted and unrestricted net assets are available.
Amounts reported as program revenues include I) charges tc 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.
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation -Continued
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 ofthe
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 meeting
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
histcrical 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.
37
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
Depreciation of all exhaustible capital assets is charged as an expense against operations in proprietary
funds and a program cost ofgovernmental 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 funds 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.
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 fund 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 term of the
bonds. Bond premiums and discounts are presented as either increases or reductions ofthe 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 governmental activities in the government-wide
statements is the same as that used for proprietary funds.
38
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
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 eaeh fund
based on its average equity balance in the pool.
Cash ineludes amounts in repurchase agreements and other short-tertn investments with a maturity date
within three months of the date of purchase.
Investments, with a maturity date ofone year or more at the time ofpurchase, 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 wiIl benefit periods beyond June 30, 2011 are recorded as
prepaid items.
11. Restricted Asscts
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. Long-Term Obligations
Only that portion of long-tertn obligations expected to be financed from expendable available financial
resources is reported as a fund liability of a governmental fund. Long-tertn liabilities expected to be
financed from proprietary fund operations are aecounted for in the appropriate proprietary fund. Long-tertn
liabilities expected to be financed from governmental activities are accounted for in the government-wide
statement of net assets.
13. Interfund Transactions
Quasi-external transaetions 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 transaetions, except quasi-external transactions and reimbursements, are reported as
transfers. Only net transfers berween governmental and business-type aetivities are reflected on the
government-wide statement of activities.
39
City of Cape Girardeau, :Missouri
NOTES TO BASIC FINANCIAL STATE:MENTS
June 30, 2011
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
14. Short-Term Interfund ReceivableslPayables
During the course ofoperations, numerous transactions oceur 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 interfund 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.
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, sixty-six employees meet those eligibility
requirements. The City provides health care coverage for them until age 65. The costs of retirees' health
care benefits are recognized as expenditures as premiums are paid. For the year ending June 30, 2011,
those costs totaled $511,862.
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 their families and 36 months for
surviving spouses and children. There is no associated cost to the City under this program. There was one
surviving spouse participating in the health insurance program and one surviving spouse and two children
participating in the dental insurance program as of June 30,2011.
40
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE A -SUMMARY OF SIGNIFICAl'.'T ACCOUNTING POLICIES -Continued
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 ofthe City and are reflected as other improvements in the business
type activities section on the statement of activities.
During the year ended June 30, 2011 all infrastructures completed during the fiscal year, including
projects started in a previous year, were recorded at their historical costs.
18. Subsequent Events
In preparing these financial statements, the City has evaluated events and transactions for potential
recognition or disclosure tbrough December 23, 20 II, the date the financial statements were available
to be issued.
NOTE B -DEPOSITS AND INVESTMENTS
The City maintains a cash and temporary cash investment pool that is avallable 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, 20 II, and reported at fair value, are as follows:
Deposits:
Demand Deposits $ 468,530
Interest Bearing Deposit Accounts 6,195,592
Total Deposits $ 6,664,122
Investments:
Negotiable Instruments $ 29,161,817
Federal Home Loan Bank 3,087,086
Federal National Mortgage Association 3,788,917
Federal Home Loan Mortgage Corporation 260,943
US Treasury Note 350.369
Total1nvestments $ 36,649,132
Total Deposits and Investments $ 43.313.254
41
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE B -DEPOSITS AND INVESTMENTS -Continued
Reconciliation to Statement or Net Assets:
Cash and Cash Equivalents $ 3,731,549
Investments 31,158,674
Restricted Cash and Cash Equivalents 2,253,958
Restricted Investments 3,370,474
Fiduciary Cash and Cash Equivalents 678,615
Fiduciary Investments 2,119,984
Deposits and Investments, Statement ofNet Assets $43.313,25.4
As of June 30, 2011, the City had the following investments:
Investment Maturities Fair Value
Negotiable Instruments 07/07/2011 -0412712016 $29,161,816
Federal Home Loan Bank 12/30/2013 -0411112016 3,087,087
Federal National Mortgage Assoc. 08/1312014 -04127/2016 3,788,917
Federal Home Loan Mort. Corp. 04/23/2014 260,943
US Treasury Note 10/3112012 350,369
Total $36,649,132
Custodial Credit Risk:
Deposits in financial institutions, reported as components of cash, cash equivalents, and investments,
had a bank balance of $42,558,845 at June 30, 2011, that was fully insured by depository insurance or
secured with collateral held by the City's agents in its name. All investments, evidenced by individual
securities, are registered in the name of the City.
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 30,2011 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;
42
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE B -DEPOSITS A,"iD INVESTMENTS -Continued
c. 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 anyone issuer. At June 30, 2011, the City had
no concentration of credit risk.
NOTE C -PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on August 16,
20 I 0, for collection during this fiscal year and were due on or before December 31. Most ofthe taxes are
collected for the City by Cape Girardeau County in November and December and remitted to the City in
December and January. The tax rates assessed at the time were as follows:
General Revenue $ .3018/100.00 assessed valuation
Public Health .0565/100.00 assessed valuation
Special Business District .670811 00.00 assessed valuation
#2 (Ad Valorem)
Property tax receivable balances as of June 30, 2011 are as follows:
Special
General Business Public Debt
Revenue District Health Service Total
Current property tax $52,478 $3,605 $ 9,824 $ $65,907
Delinquent property tax 22,231 3,359 4,160 27 29,777
Reserve for doubtful
Property taxes (10,030) (1,878) (27) (11,935)
Net property tax receivable $61,619 $6,961 W,lQ§ $ $83,742
43
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE D -CHANGES IN CAPITAL ASSETS
A summary ofthe capital assets for governmental activities included on the government-",1de statement of
net assets for the year ended June 30, 2011 is as follows:
Balance Current Year Balance
July I, 2010 Additions Deductions Depreciation· June 30, 2011"
Land $ 5,375,506 $ 27,260 $ $ $ 5,402,766
Buildings 18,493,406 6,086,064 910,491 23,668,979
Improvements other
than buildings 11,666,628 110,545 750,367 Jl,026,806
Equipment 6,082,188 823,484 2,738 1,117,242 5,785,692
Infrastructure 115,973,947 4,290,007 4,245,295 116,018,659
Construction in progress 5,931,992 6,604,010 9,903,J09 2,6;)2,693
Total capital assets S1635Zl,667 $]7,241 J1D $2.206,041 li_ Z,Q;/J.m $ 164,5~~~5
• Includes depreciation expenses from the internal service funds' assets which are included in the expenses of the
governmental activities and business activities on the government-wide Statement of Activities as internal charges.
"Includes the internal service funds' assets which are included as pan ofthe governmental activities assets included on the
government-wide Statement of Net Assets.
Fo\lo'W'ing is a summary of the capital assets for business-type activities on the government-mde statement
of net assets for the year ended June 30, 2011:
Balance Current Year Balance
,My!, 2010 Additions Deductions Dellreciation LlI!1e 30, 2011
Land $ 161,990 $ -$ $ $ 161,990
Buildings 2,089,527 831,819 219,918 2,701,428
Improvements other
than buildings 86,516,462 2,083,840 3,110,460 85,489,842
Equipment 5,049,330 393,843 65,287 862,61 I 4,515,275
Construction in progress _4,646.538 -.-1,556,870 2.540,046 5.!l!iV62
Total capital assets $ 2S,~!l~ 84Z ~... 6.8QQ,nZ UllQ:i.m $ 4122282 $ 28531.§21
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
.!'IOTE D -CHANGES IN CAPITAL ASSETS -Continued
Depreciation expense was charged to functions as follows in the statement of activities:
Govermnental Activities:
Administrative $ 421,218
Development Services 4,410
Parks and Recreation 837,596
Public Safety 679,640
Public Works 4,736,008
Total $ 6,678,872
Business-Type Activities:
Golf Course $ 118,720
Sewer 2,146,179
Softball Complex 24,918
Solid Waste 455,283
Water 1.447,889
Total $ 4,12f.2§2
NOTE E -LONG-TERM OBLIGATIONS
The following is a summary ofchanges in the long-term debt from govermnental activities included on the
govermnent-wide statement of net assets for the year ended June 30, 2011:
Governmental Otner Revenue
Debt' Bonds Total
Debt payable July I, 2010 $ 26,524,629 $ 16,940,217 $43,464,846
Premium amortization 30,389 (14,245) 16,144
Retired (4,789,958) (1,130,600) (S,920,S58)
Additions 422,706 _422,706
Debt payable Iune 30,2011 $ 21 165 Qfl!l S 162t~Q1B Sl228J lJB
'Other Debt includes Notes Payable, Special Obligation Bonds, Leasehold Revenue Bonds, and Certificates of Participation,
45
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,201 I
NOTE E -LONG-TERM OBLIGATIONS -Continued
The following is a summary of changes in the long-term debt from governmental activities included on the
goverument-wide statement of net assets for the year ended June 30, 201 I:
Business-Type
Activities
Other
Debt"
Revenue
Bonds Total
Bonds payable at
July 1,2010
Discount Premium
Amortization
Accumulated Interest
Bonds Retired
$ 2,219,171
(3,420)
(195,008)
$25,770,915
(13,760)
315,219
(3,111,000)
$27,990,086
(17,180)
315,219
(3,306,008)
Bonds Issued
Bonds payable at
June 30, 2011 $ 2,Q20,743 S22,96U1:! $24,)182,Ul
'Other Debt includes Note' Payable and Special Obligation Bonds
46
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE E -LONG TERM OBLIGATIONS -Continued
Bonds payable for governmental and business-type activities at June 30, 2011 are comprised of the
following individual issues:
$ 310.000 Special Obligation Refunding and Improvement Bon<:ls. Series 2002:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2012
2013
4.10%
4.10
$ 155,000
155,000
$ 9,455
3.177
$ 164,455
158.177
1 3IQ,OQO $ 12,632 $ 322,632
Principal payments are made annually on October I, and interest payments are made semi-annually on
October I and April I.
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
behalfof the City by the Cape Girardeau Public Facilities Authority and outstanding in the principal amount
of $1,085,000, (b) pay the costs of refunding the Certificates of Participation (Capital Improvements
Projects), Series 1994A, issued on behalf ofthe City by the Cape Girardeau Public Facilities Authority and
outstanding in the principal amount of$I,255,000 and prepaying the leasehold interest represented thereby,
(c) pay the costs of constructing certsin 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 Refunding and Improvement Bonds Series 2002
is allocated as follows: $310,000 for Governmental activities.
47
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE E -LONG-TERM OBLIGATIONS -Continued
$2,(j70.000 Waterworks Svstem Refunding Revenue Bonds Series 2006A due as follows:
Year Ending Interest Principal Interest
June 30. Rate Due Due Total
2012 4.00% $ 965,000 $ 106,800 $1,071,800
2013 4.00 1,705.000 68,200 1.773.200
$2,610,QOO $ I Z5,OQQ $ 2,IB5,Q.Q.Q
Principal payments are made armually on March I, and interest payments are made semi-armually 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 ofthe 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 funds needed to retire $8,170,000 prineipal
amount of Waterworks System Refunding Revenue Bonds, Series 1995.
48
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE E -LONG-TERM OBLIGA nONS -Continued
$ 610,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1991 due as
follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2012
2013
2014
6.875%
6.875
6.875
S 190,000
205,000
215,000
$ 41,937
28,875
14,781
$ 231,937
233,875
229,781
$ 6]0,000 $ 85,523 -.SJi95,:j2:i
These bonds are dated December I, 1991. The proceeds ofthe 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 eonstruction funds held by the trustee, the State ofMissouri Department ofNatural 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 ofMissouri Department ofNatural Resources out of
the reserve fund. The balance of the reserve fund at June 30, 2011 was $305,000, 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 ofthe 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 fiseal year ended June 30, 2011, City interest expense was
reduced by $15,752 as a result of this transaction. Over the remaining life of these bonds, the City will
receive net present value benefits of approximately $34,136 from this transaction.
49
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE E -LONG-TERM OBLIGATIONS -Continued
$ 144,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1993 due as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2012
2013
2014
2015
5.400%
5.400
5.400
5.400
$ 33,000
35,000
37,000
~,OOO
$ 6,885
5,049
3,106
1,053
$ 39,885
40,049
40,106
40.053
$1'1'1,000 $1p,Q23 ~ ]60,Q23
Tbese bonds are dated August I, 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
I and September I.
The interest due on the Series 1993 Sewer System Revenue Bonds is subsidized by interest eamings 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 ofNatural Resources deposits
an amount equal to approximately 70% ofthe 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 ofthe
reserve fund. The balance of the reserve fund at June 30, 2011 was $100,800. The reserve fund yields
5.15%.
50
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE E -LONG-TERM OBUGATIONS -Continued
$ 1,904.386 Water Pollution Control Revenue Bonds (State Revolving Fund Program) Series 1995D
due as follows:
Year Ending
June 30.
Interest
Rate
Principal
Due
Interest
Due Total
2012
2013
2014
2015
2016
2017
6.150%
6.150
6.200
6.200
6.250
6.250
$ 380,828
354,978
326,281
303,920
278,844
$ 654,172
670,022
683,719
696,080
706,156
715.465
$ 1,035,000
1,025,000
1,010,000
1,000,000
985,000
975.000
$ 1.90'1,386. $ 4.125,614 $ 6.,030,000
These bonds are dated June I, 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% ofthe 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, 2011 was
$1,333,070. The reserve fund yields 5.83%.
51
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE E -LONG-TER.'\1 OBLIGATIONS -Continued
li.245,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1996 due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
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, lSI
2016 5.900 895,000 219,775 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
$ 6,245,000 $I,9IMS.S U,863,688
These bonds are dated June 1, 1996. The proceeds of the bond issue were used for the extension and
improvement of the existing sewerage system serving the City.
Principal payments are made annually on January I. 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 eamings 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 ofNatural Resources out of the reserve fund. The balance of the reserve fund
at June 30, 2011 was $4,861,500. The reserve fund yields 5.70%.
52
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
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 a<; 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, 2011, City interest expense was
reduced by $19,669 as a result of this transaction. Over the remaining life of these bonds, the City will
receive net present value benefits of approximately $121,986 from this transaction.
$ 7,455,000 S<;)werage System Revenue Bonds (State Revolving Fund Program) Series 2000 due as
follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
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 1.620.0()() 44,550 -.1.,,664,550
$1.455,000 $2,8§2,551 $10,3 11,5.5l
These bonds are dated November 1,2000. 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 July I, and interest payments are made semi-annually on July 1
and January 1.
53
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
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 projeet expenditures from
the construction funds held by the trustee, the State ofMissouri Department ofNatural Resources deposits
an amount equal to approximately 70% ofthe reimbursement into the reserve fund. The maximum amount
offunds 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 ofMissouri Department ofNatural Resourees out of the
reserve fund. The balance of the reserve fund at June 30, 2011 was $5,259,533.The reserve fund yields
5.16%.
$15,:265,000 Waterworks System Revenue Bonds (Stale Revolving Fund Program) Series 1998 due as
follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2012
2013
2014
2015
2016
2017
2018
5.250%
5.250
5.250
5.250
5.250
4.500
4.500
$ 1,215,000
1,300,000
2,350,000
2,445,000
2,550,000
2,655,000
~,750,000
$ 760,875
697,087
628,838
505,462
377,100
243,225
123,750
$ 1,975,875
1,997,087
2,978,838
2,950,462
2,927,100
2,898,225
_.. 2,873,750
$15,26~,OOO ~.336,332 $lMOl,337
These bonds are dated December I, 1998. The proceeds of the bond issue are being used for the extension
and improvements to the waterworks system.
Principal payments are made annually on January I. Interest is paid semi-annually on January I and July 1
beginning on July I, 1999.
54
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
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 ofNatural Resources deposits an amount equal to
33.41 % 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 atJune 30,
2011 was $4,765,484. The reserve fund yields 4.71 %.
$16,260,000 Leasehold Revenue Bonds, Series 2009 due as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2012
2013
2014
2015
2016
2017
2018
2019
3.600%
3.700
3.800
3.900
4.000
4.000
4.000
4.100
$ 1,895,000
1,955,000
2,015,000
2,080,000
2,150,000
2,240,000
2,330,000
1,595,000
$ 593,118
531,532
472,882
407,394
334,594
248,594
158,994
65,794
$2,488,118
2,486,532
2,487,882
2,487,394
2,484,594
2,488,594
2,488,994
1,660,794
$16,260,000 $2,812,902 $12,Q72,2Q2
The bonds are obligations of the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The
CGPF A has entered into a Lease Purchase Agreement with the City. Principal and interest will be paid by
CGPFA from rental and other receipts from the City. Proceeds of the bonds will be used for the
construction of various storm water control improvements, Cape Splash Family Aquatic Center, Shawnee
Park Community Center, and various other park related improvements.
Principal payments are made annually on April I, and interest payments are made semi-annually on April I
and October l.
55
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE E -LONG-TERM OBLIGATIONS -Continued
$4,43~,000 Special Obligation Bon4s, Series 2005:
Year Ending Interest
June 30, Rate
2012 3.500%
2013 3.625
2014 4.000
2015 5.000
2016 4.000
2017 4.000
2018 4.100
2019 4.125
2020 4.200
2021 4.250
2022 4.250
2023 4.375
2024 4.375
2025 4.375
Principal
Due
$ 680,000
700,000
690,000
1,245,000
80,000
85,000
90,000
90,000
95,000
100,000
105,000
110,000
115,000
250,000
$;U3:!,QQO
Interest
Due
$ 186,511
162,711
137,336
109,736
47,486
44,286
40,886
37,196
33,484
29,494
25,244
20,781
15,969
10.940
1 ~02.Q6Q
Total
$ 866,511
862,711
827,336
1,354,736
127,486
129,286
130,886
127,196
128,484
129,494
130,244
130,781
130,969
260,940
$5,:331,060
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 $8,190,000 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 ofproviding 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 ofthe State of Missouri, and pursuant to an ordinance duly passed
and proceedings duly and legally had by the governing body ofthe City.
56
City of Cape Girardeau, Missouri
NOTES TO BASIC FINAt"lCIAL STATEMENTS
June 30, 2011
NOTE E -LO~G-TERM OBLIGATIONS -Continued
$1,450,000 Bank of America 2006 Promissory Note:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2012 0.972% $ 100,000 $ 13,851 $ 113,851
2013 0.972 100,000 12,879 112,879
2014 0.972 100,000 11,907 111,907
2015 0.972 100,000 10,935 110,935
2016 0.972 100,000 9,963 109,963
2017 0.972 100,000 8,991 108,99\
2018 0.972 100,000 8,019 108,019
2019 0.972 100,000 7,047 107,047
2020 0.972 100,000 6,075 106,075
2021 0.972 100,000 5,103 105,103
2022 0.972 100,000 4,131 104,131
2023 0.972 100,000 3,159 103,159
2024 0.972 100,000 2,187 102,187
2025 0.972 100,000 1,215 101,215
2026 0,972 50,000 243 50,243
$ 1,45Q,QQQ $ 1Q5,7Q5 $ 1,5.55,105
On February 9, 2006, the City of Cape Girardeau entered into a promissory note with the Bank ofAmerica
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: $579,883 for governmental activities and $870,117 for business-type activities.
Principal payments of $50,000 are made semi-annually on January I 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 LIBORmultiplied by 60.938%, plus 0.813%. The
rate at June 30, 2011 was 0.972%.
57
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE E -LONG-TERM OBLIGATIONS -Continued
~79.400 Waterworks Revenue Bongs, Series 2010 due as follows:
Year Ending Interest
June 30, Rate
2012 1.4900%
2013 1.4900
2014 1.4900
2015 1.4900
2016 1.4900
2017 1.4900
2018 1.4900
2019 1.4900
2020 1.4900
2021 1.4900
2022 1.4900
2023 1.4900
2024 1.4900
2025 1.4900
2026 1.4900
2027 1.4900
2028 1.4900
2029 1.4900
2030 1.4900
Principal
Due
$ 41,800
42,800
43,800
44,700
45,700
46,800
47,900
48,900
50,100
51,100
52,300
53,500
54,700
55,900
57,200
58,500
59,900
61,200
_~2,60Q
~72,iQQ
Interest
Due Total
$ 14,438 $ 56,238
13,812 56,612
13,170 56,970
12,515 57,215
11,845 57,545
11,159 57,959
10,458 58,358
9,741 58,641
9,008 59,108
8,258 59,358
7,492 59,792
6,708 60,208
5,906 60,606
5,087 60,987
4,249 61,449
3,392 61,892
2,515 62,415
1,618 62,818
701 63,301
~ lS2.Q72 $ 1.131,472
These bonds are dated January 1, 2010. The proceeds ofthe bond issue will be used to construct a
transmission main from new well fields to Water Plant #1.
Principal and interest payments are made semi-annually on January 1 and July 1.
58
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE E -LONG-TERl\-J OBLIGATIONS -Continued
$1 , 140,000 Special Obligation ijpnds, Series 201 OA due as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2012
2013
2014
2015
2016
2017
2018
3.000%
3.000
3.000
3.000
2.625
3.000
3.375
$ 130,000
140,000
150,000
160,000
175,000
185,000
200,000
$ 34,294
30,394
26,194
21,694
16,894
12,300
6,750
$ 164,294
170,394
176,194
181,694
191,894
197,300
206,750
$ 1,I;1Q,QQQ $ 14Bj20 $ 1,288,520
On March 1,2010, the City issued $1,275,000 of Special Obligation Bonds Series 2010A with interest
rates varying from 2.625% to 3.375%. Principal and interest will be paid by the City from the revenues
derived from annual appropriations by the City Council.
The proceeds ofthe bond issue were used to acquire new automated trash collection/recycling trucks for the
public works department and to pay the costs of issuing the bonds.
Principal payments are made annually on January 1. Interest payments are made semi-annually on January
1 and July I.
59
City of Cape Girardeau, Missouri
NOTES TO BASIC FINAl'l"CIAL STA1EMENTS
June 30, 2011
NOTE E -LONG-TERM OBLIGATIONS -Continued
The annual requirements to amortize all debt outstanding as of June 30, 2011 including total interest
payments of $1 6,653,767 are as follows:
Special Leasehold
Year Ending Obligation Revenue Revenue Promissory
June 30, Bonds Bonds Bonds Note Total
2012 $ 1,195,260 $ 6,200,581 $2,488,118 $ 113,851 $ 9,997,810
2013 1,191,282 6,888,488 2,486,532 112,879 10,679,181
2014 1,003,530 6,059,960 2,487,882 111,907 9,663,279
2015 1,536,430 5,831,010 2,487,394 110,935 9,965,769
2016 319,380 5,900,426 2,484,594 109,963 8,814,363
2017 326,586 5,885,191 2,488,594 108,991 8,809,362
2018 337,636 4,860,591 2,488,994 108,019 7,795,240
2019 127,196 2,892,804 1,660,794 107,047 4,787,841
2020 128,484 1,848,307 106,075 2,082,866
2021 129,494 1,723,908 105,103 1,958,505
2022 130,244 59,792 104,131 294,167
2023 130,781 60,208 103,159 294,148
2024 130,969 60,606 102,187 293,762
2025 260,940 60,987 101,215 423,142
2026 61,449 50,243 111,692
2027 61,892 61,892
2028 62,415 62,415
2029 62,818 62,818
2030 63,301 63,301
~ Q,948,;U2 $48,644,134 $12,Q12,2Q2 11555,7QS $ 76 221,~53
The cash and investments available to service revenue bonds are $1,063,384 and $4,006,271 for the
governmental and business-type activities, respectively.
The cash and investments available to service the special obligation bonds in governmental activities are
$741,434.
60
.... ----------------
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
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 $1,622,569
Total $1.622,569
Business-Type Activities:
Golf Course $ 10,562
Sewer 578,533
Softball Complex 7,750
Solid Waste 51,510
Water 162,850
Total L§lUU.i
Missouri statutes limit 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 $27,107,797.
NOTE F -DEFICIT FUND BALANCESIRETAlNED EARNINGS
The Housing Development Grants Fund's total liabilities exceeded their total assets by $162,395,
61
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 I 1
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 defmed
benefit pension plan which provides retirement, disability, and death benefits to plan members and
beneficiaries.
LAGERS was created and governed by statute Section RSMo. 70.600 -70.755. As such, it is the system's
responsibility to administer the law in aecordance with the expressed intent ofthe General Assembly. The
plan is qualified under the Internal Revenue Code Section 401 (a) and it is tax exempt.
The Missouri Local Government 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 Status
Full-time employees of the City of Cape Girardeau do not contribute to the pension plan. The June 30th
statutorily required contribution rates are 7.1 % (General), 7.9% (Police) and 12.3% (Fire) ofannual 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 (APC) and Net Pension Obligation eNPOl
The subdivision's annual pension cost and net pension obligation for the current year were as follows:
Annual required contribution $1,533,704
Interest on net pension obligation o
Adjustment to annual required contribution o
Annual pension cost 1,533,704
Actual contributions 1,156,413
Increase ( decrease) in NPO 377,291
NPO beginning of year o
NPO end of year
The annual required contribution (ARC) was determined as part of the February 28, 2009 annual actuarial
valuation using the entry age actuarial cost method. The actuarial assumptions as of February 28, 2011
included: (a) a rate of return on the investment of present and future assets of7.25% per year, compounded
annually, (b) projected salary increases of 3.5% 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 75% ofthe RP-2000 Combined Healthy
62
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE G -PENSION PLAN -Continued
Table set back 0 years for men and 0 years for women, and (e) post-retirement mortality based on 105% of
the 1994 Group Annuity Mortality table set back 0 years for men and 0 years for women, The actuarial
value of assets was determined using techniques that smoolh lhe 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 30 years for the General division, 30 years for the Police division and 30 years for the Fire
division.
Three-Year Trend Information
Year
Ended
June 30
Annual
Pension
Cost (APC)
Percentage
ofAPC
Contributed
Net
Pension
Obligation
2009
2010
2011
$1,006,174
1,033,703
1,533,704
100,0%
100,0%
75,4%
$ 0
0
377,291
Note: The above assets and actuarial accrued liability do not include lhe assets and present value of
benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The actuarial
assumptions were changed in conjunction v.1th the February 28, 201 I annual actuarial valuations, For a
complete description of the actuarial assumptions used in the annual valuations, please contact the
LAGERS office in Jefferson City.
63
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE H -POSTRETIREMENT HEAL THCARE BENEFITS
1. Description
The City follows the provisions of GASB Statement No. 45, Accounting and Financial Reporting by
Employers for Postemployment 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 $2,226,981 and $1,253,595, 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.
2. Funding 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
30,20 II, 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) ofthe 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 oDO 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:
64
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE H -POSTRETIREMENT HEALTHCARE BENEFITS -Continued
2010 2011
Annual required contribution $ ] ,355,157 $1,253,595
Interest on net OPEB obligation 41,823 75,609
Adjustment to annual required contribution (57,057) (103,150)
Annual OPEB cost $ 1,339,923 $1,226,054
Contributions made (589,117) (679,271)
Increase in net OPEB obligation $ 750,806 $ 546,783
Net OPEB obligatiou, July I 1,680,]98
Net OPEB obligation, June 30 $ 1,68Q.128 $2.226,281
The City's annual OPEB cost, the percentage of annual OPEB cost contributed to the Plan, and the net
OPEB obligation for 2011 were as follows:
Percentage of NetOPEB
Fiscal Year Annual Annual OPEB Obligation
OPEB Cost Cost Contributed End of Year
6/30111 $1,226,054 55.4% $ 2,226,981
6130110 1,339,923 44.0% 1,680,198
6/30/09 1,487,797 37.5% 929,392
4. Funding Status and Funding Progress
As ofJuly 1,2010, the most recent actuarial valuation date, the Plan was not funded. The actuarial accrued
liability for benefits equaled $11,304,595, resulting in an unfunded actuarial accrued liability (UAAL) of
$11,304,595. The covered payroll (annual payroll of active employees covered by the Plan) equaled
$12,795,822, and the ratio of the UAAL to the covered payroll equaled 88.3%.
Actuarial valuations of an ongoing plan involve estimates ofthe value ofreported amounts and assumptions
about the probability of oecurrence of events far into the future. Examples include assumptions about
future employment, mortality, and the healthcare cost trend. Amounts detennined regarding the funded
status ofthe 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 is to present multiyear trend information about whether the actuarial value
ofthe Plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.
However, because the City maintains no Plan assets, infonnation relative to Plan asset required disclosures
is not applicable.
65
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE H -POSTRETIREMENT HEALTHCARE BENEFITS -Continued
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 1,2010, 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 ofretum on non-pension investments held by the
. City. Actuarial assumptions also included annual healthcare trend rates of 8.0%, initially, reduced by
decrements to an ultimate rate of 4.5% for healthcare costs after ten years. The UAAL is being amortized
as a level dollar amount over thirty years based on an open group.
NOTE I -INTEREST EXPENSE
Interest and handling charges, totaling $1,659,421, excluding $10,064 ofinterfund interest, was incurred by
governmental funds during the year ended June 30, 2011. Interest and handling charges, totaling $785,488
excluding $29,710 of interfund interest, was incurred by proprietary funds during the year ended June 30,
2011. 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 ofinterfund balances as of June 30, 2011:
Advance to/from other funds:
Advances from Advances to
General Fund $ 916,442 $
Solid Waste Fund 582,818
Golf Course Fund 191,136
Softball Comple< Fund 142,488
~21(i.442 $ 9J64~6
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.
66
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
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, 2011:
___~___.l'un<L..___.__•__ _Trans.~~ F~fI!.__ Transfer To
General Fund $ 4,207,641 $ 4,677,317
Airport Fund 261,782 723,624
Park and Recreation Fund 1,817 1,086,998
Vision 2000 3,102
Housing Development Fund 18,787
Motor Fuel Tax Fund 1,320,000
Capital Improvement Sales Tax-
Water System Improvements 1,400,000 4,351
Sewer System Improvements 2,816,599
Fire Sales Tax Fund 2,135,157
Public Safety Trust Fund 1,166,579 2,135,157
Transportation Sales Tax Trust III 350,000
Park/Storm Water Sales Tax 1,215,245
Park/8tonn Water Sales Tax-Capit.1 153,992 136,535
Casino Revenue Fund 1,879,134
Debt Service Fund 1,955,282
General Capital Improvements Fund 60,000
Park Improvements Fund 114,817
Community Development Block
Grant Project Fund 218 325
Water System Improvement
Projects Fund 4,351
Stonn Water Projects from
Storm Water Tax 55,164
Park Improvement Projects from
Park Sales Tax 248,364 415,384
Sewer Fund 3,500 4,505,461
Water Fund 8,290
Golf Course Fund 105,412
Softball Complex Fund 4,566 466,918
Fleet Manllllement Fund 14,814
Equipment Replacement Fund 10,698 _____ 27:Jn
L.lliW..m L_J.M4Z5~
67
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMEt-.'TS
June 30, 2011
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, 2011 was as follows:
Softball
Sewer Water Solid Waste Golf Course Complex Total
Fund Fund Fund Fund Fund Enterprise
Operating revenues $ 3,644.123 $6,419,796 $3,175,858 $ 485,149 $ 218,486 $13,943,412
Depreciation 2,146,179 1,447,889 455,283 118,721 24,918 4,192,990
Operating Income (Loss) (1,727,875) 260,887 (187,323) (2U,IOI) (465,767) (2,331,179)
Operating transfers in 4,505,461 8,290 105,412 466,918 5,086,081
Net Income (Loss) 2,667,155 1,704,557 (198,558) (82,200) 713,269 4,804,223
Current Capital Contributions 267,849 1,344,592 19,419 722,600 2,354,460
Property, Plant and Equipment
Additions 1,825,121 1,668,019 99,717 9,272 766,258 4,368,387
Deletions 66,644 6,988 4,507 40,541 118,680
Net Working Capital 829,661 3,090,848 1,291,8lJ 15,286 11,013 5,238,619
Total Assets 51,312,299 49,322,762 4,470,329 1,750,970 2,631,571 115,487,931
Bonds and Other Long·teoo
Liabilities Payable from
Operating Revenues 20,598,300 2,705,182 2,534,431 219,135 151,516 26,208,564
Total Net Assets $35,484,097 $45,654,757 $1,613,080 $1,453,472 $2,343,983 $86,549,389
NOTE L -GOVERNMENTAL FUND BALANCES REPORTING
In order to improve the usefulness and understandability of governmental fund balance information, the
Governmental Accounting Standards Board issued Statement No. 54 in which it classified fund balance into
the following categories: Nonspendable, Restricted, Committed, Assigned, and Unassigned. Definition of
each category and a reconciliation of how the City of Cape Girardeau reported its Fund Balance follow.
Nonspendable Fund Balance Includes amounts that caunot be spent because they are either (a) not in
spendable form or (b) legally or contractually required to be maintained intact. The "not in spendable form"
criterion includes items that are not expected to be converted to cash, for example, inventories and prepaid
amounts, It also includes long-term receivables that are not currently available for expenditure. These
financial statements reflect non-spendable fund balances of$2,1 00 that are legally restricted to provide for
the perpetual care and maintenance of a mausoleum in the City's cemetery, Only interest eamings on this
amount can be used for mausoleum maintenance. Prepaid expenses of$158,932 and long-term advance
receivables of $916,442 are also reflected as non-spendable fund balances.
68
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 11
NOTE L -GOVERNMENTAL FUND BALANCES REPORTING· continued
Restricted Fund Balance -Includes amounts that can be spent only for specific purposes because of
re;triction~byext~~p~ies, constitutional provisions or enabling legislation. These fmancial statements
include the following restricted fund balances. Fund balances totaling $4,9 I 0, I 36 are restricted by the City
Charter to use during officially declared emergencies. Special revenue fund balances totaling $11,614,690
are restricted by their enabling legislation. $4,411,985 in capital project fund balances are restricted as the
result of special revenue transfers and unspent bond proceeds. The remaining $200,844 in restricted fund
balances result from legal agreements with various outside parties.
Committed Fund Balance These funds can only be used for specific purposes pursuant to constraints
imposed by formal action ofthe City's highest level ofdecision-making authority (the City Council). Those
amounts carmot be used for any other purpose unless the govenunent removes or changes the specified use
by taking the same type of formal action it employed to previously commit those amounts. Typically, a
resolution by the city council would be needed to commit a portion of a fund balance for a specific purpose.
The City currently has no committed balances.
Assigned Fund Balance -Amounts that are constrained by the govenunent's intent to be used for specific
purposes, but are neither restricted nor committed. For all govenunental funds other than the general fund,
any remaining positive amounts not classified as nonspendable, restricted or committed. For the general
fund, amounts can be assigned the intent to be used for a specific purpose by the city council or a city
official authorized by the city council; the amount reported as assigned should not result in a deficit in
unassigned fund balance.
Unassigned FtIJ1d Balance -For the general fund, amounts not classified as nonspendable, restricted,
committed or assigned are included here. For all other govenunental funds, it is the amount expended in
excess of resources that are nonspcndable, restricted, committed or assigned. The general fund is the only
fund that should have a positive amount in this classification.
Order of Usage -Unless specifically identified, expenditures will reduce related restricted balances first,
and then related committed balances, next related assigned balances, and finally unassigned balances.
Expenditures for a specifically identified purpose will reduce the specific classification offund balance that
is identified.
69
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATH1ENTS
June 30, 2011
NOTE L -FUND BALANCE REPORTING -Continued
Major
§l!~s!al Revenue FUDd. Major
Park
Parks and Transportation Projetts
Gentral Airport Recreation Sales Tax from Parks
Fund balances
~ fund Fund TrllS! Euod III §:l!les Tax
Nonspendablt';:
Prepaid expenses $ 125,999 $ 16,722 $ 2,871 $ $
Lon~term advance 916,442
Mausoleum 2,100
Restricted lor:
Mausoleum 88,166
Emergencies 3,735,645
Local access channel 4,755
Convention and tourism
RJVer campus bonds
Community development
Public safety
Street projects 5,812,663
Flood control projects
Water system projects
Sewer system projects
Parks and recreation
Park and storm water projects 833,423
Other capitaJ projects
ASSigned to:
Airport l28,962
Parks and recreation 398,793
Operations and maintenance 13,m
Encumbrances 166,510
Other capillil projects
Debt service
Other projects
Public safety
Parks and recreation
Other capital projects
Community development
Street projects
Unassigned: 1 ~II 069
WSQ686 ~~ 1lHJS $ ,S 812 06l L,833~;U
Other
EI!!!JIi Total
$ 13,340 $ 158,932
916,442
2,100
88,166
1,174,491 4,910,136
4,755
356,284 356,284
107,924 107,924
43,749 43,749
652,981 652,981
2,064,635 7,877,298
44,303 44,303
3,466,667 3,466,667
964,900 964,900
214,595 214,595
1,048,214 1.881,637
524,260 524,260
128,962
398.793
B,I71
l66,510
35,775 35.775
21,529 21,529
6,353 6.353
858,825 858,825
301,596 301.596
220,237 220,237
65 65
48,908 48,908
(16'J25) I 24M74
$1. QOI2.36 $.25 6Q~ SZl
70
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE M -RESERVED RETAINED EARNINGS AND RESTRICTED ASSET ACCOUNTS
At June 30, 2011, the City has restricted assets in its Proprietary Funds as follows:
Depreciation Revenue Bond
and Bond Sinking and
Replacement Construction ~.FURc! To1l!!
Sewer Fund $ 127,000 $ $2,149,626 $ 276,626
Water Fund 1,450,000 4,516 1,888,302 3,342,818
Solid Waste Fund ~.~-
__4,145 844 _4,989
$1 577 OOp L~.l...-641 $4Q~~,m $5,Q2~,433
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 time 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 $45,500 as of June 30, 2011, which is based on the
amount that would be paid ifall equipment, facilities, and services required to close, monitor, and maintain
the landfill were acquired as ofJune 30,2011. However, the actual cost ofclosure 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.
71
City of Cape Girardeau, Missouri
NOTES TO BASIC FINAt~CIAL STATEMENTS
June 30, 2011
NOTE 0 -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 ofthe 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 employment practice liability. Risks forthese
coverages are spread across members of the fund. Currently the fund is comprised of860 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 ofpremiums
in each of the last twelve 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 "A-" by
A.M. Best.
Airport liability is carried by Catlin Insursnce 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.
Equipment coverage is carried by Travelers Property Casualty Company of America. It is rated "A+" by
A.M. Best.
The City has established self-insurance plans for employees' health insurance and workers' compensation.
Both ofthese 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
Anthem Blue Cross Blue Shield of Missouri, 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 $150,000 and $150,000 annually per employee and up to the aggregate stop loss
amount (115% of estimated claims) of approximately $2,750,000 and $2,800,000 annually beginning
January 1,2010 and 2011, 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 100.0% and 93.5% ofthe aggregate stop
loss amount for fiscal years ending June 30, 2010 and 2011 respectively.
72
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2011
NOTE 0 -RISK MANAGEMENT -Continued
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. AU claims are paid directly by the
City. The City has purchased insurance coverage from Safety National Casualty Corp. that limits the City's
maximum individual claims liability to $550,000 for USL & Hand $400,000 for other regular employees
and per occurrence claims liability to $1,000,000. Additionally, $5,000,000 in coverage is provided for
annual claims in excess of $1,699,596. Rates are charged by the internal service fund to the other City
funds based on rates and experience factors established by the National Council on Compensation
Insurance and City of Cape Girardeau actual claims trends. Safety National is rated "A" by A. M. Best.
Claims liability is estimated using data supplied by the administrator. The claims activity during the last
five years is summarized as follows:
CLAIMS Ll~f!ILITlES RECONCILIATION
Health Workers'
Insurance ComJlensation Total
Balance June 30, 2006 $ 509,500 $ 705,000 $ 1,214,500
Provision for Incurred Claims 2,520,411 517,676 3,038,087
Payment of Claims ...~.._ (2,3 8'!J61) (552,676) (2,936.837)
Balance June 30, 2007 $ 645.750 $ 670,000 $ 1,315,750
Provision for Incurred Claims 1,812,199 6,009 1,818,208
Payment of Claims _~d.46,449) (406,009) (2,752,458)
Balance June 30, 2008 $ 111,500 $ 270,000 $ 38 I ,500
Provision for Incurred Claims 1,860,053 523,905 2,383,958
Payment of Claims (1,7731l53) (363,905) (2,136,958)
Balance June 30, 2009 $ 198,500 $ 430,000 $ 628,500
Provision for Incurred Claims 1,843,651 583,662 2,427,313
Payment of Claims (1,911,151) ~ (493,662) _ __ .J2d04"ill)
Balance June 30, 2010 $ 13] ,000 $ 520,000 $ 651,000
Provision for Incurred Claims 2,238,055 106,108 2,344,163
Payment of Claims _~_(2.17I.055) ill6,108) ---1:ui97,163)
Balance June 30, 20 II L~J2,S,,90Q t. 100.000 L~~:29.8,OOQ
73
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2011
NOTE P -CONCENTRATION OF CREDIT RISKIBAD DEBT ALLOWANCE
The City has uncollateraIized utility accounts receivable generated within a limited geographical region
primarily consisting ofits 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, 2011, utility receivables totaled $2,268,627. On the financial statements, the utility receivables
are shown net of the allowance for doubtful accounts of $94,135. This results in net utility receivable of
$2,174,492. During the year ended June 30, 2011, the allowance was increased by $35,520 or
approximately .28% of the current year's utility charges and accounts totaling $70,678 were written off.
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, 2011, the City had construction commitments outstanding 0£$5,570,846. The construction
commitments represent incomplete portions of contracts entered into to construct the following: various
street projects, trail construction, platforms, power supply, and fiber optic cabling for 4 new raw water
supply wells, the rehabilitation of a commercial building, and housing rehabilitation. These contracts are
expected to be completed within the next fiscal year.
4. Encumbrances
As of June 30, 2011, the City had encumbrances outstanding of$8,165,801.
74
City of Cape Girardeau, Missouri
NOTES TO BASIC FINA."lCIAL STATEMENTS
June 30, 2011
NOTE R -PRIOR PERIOD ADJUSTMENTS
On the Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balance, there are
prior period adjustments that total ($13,063.79). General Fund had a ($.01) adjustment due to actual
receipts from the FEMA ice storm disaster that occurred during January 2009 being less than originally
thought. Airport Fund had a prior period adjustment of ($11 ,505 .28) for painting done by DSW on the
hangar they rented during September 2009, the value of which was supposed to be applied toward their rent
due. Finally, the Housing Development Grants fund had a prior period adjustment of ($1 ,558.50) for a
receivable that had been set up for administrative fees due from the Neighborhood Stabilization Grant
which were decreased because funds were not obligated by the due date.
The Proprietary Funds Statement of Revenues, Expenses, and Changes in fund Net Assets had prior period
adjustments in both Sewer and Water funds which had to do with Construction in Progress costs for
projects expected to be capitalized upon their completion. Sewer fund had ($1,631.40) reversed due to
completed project cost being under the $5,000.00 capitalization threshold. Also, ($259.68) was set up for
engineering time thought to be a sewer project that turned out to be a street project. Water fund had an
adjustment in the amount of ($6,253.51) for costs associated with a water main extension that will be
privately maintained by St. Francis Hospital. The previous year's financial statements had assumed that the
extension would be maintained by the City and the costs were included with the City'S fixed assets.
The Statement of Activities includes a prior period adjustment in the amount of($1,939.95) on the
governmental side for the decrease in Construction in Progress for items determined not to be a general
fixed asset. The previous Governmental Fund and Proprietary Fund adjustments were also included as
prior period adjustments on the Statements of Activities.
NOTE S -CONTINGENCY
I. 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 ofthese 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 v.ith rates currently equal to 1 % will expire
during the term ofthis agreement. Tbe City will be required to substitute revenues for sales taxes
with equivalent rates, if available, when the specific sales taxes expire.
75
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 20 II
NOTE S -CONTINGENCY -Continued
Required quarterly payments increase armually 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 without 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 ofthe
agreement will not be required to be paid. The term ofthe developer agreement is 20 years from the
execution of the agreement.
During the fiscal year ended June 30,20 II, no payment was due under the development agreement.
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% ofthe 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.
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, 2011, the City incurred payments of $151,594 under the development
agreement. This amount is included in the Development Services expenses on the statement of
activities.
3. In July 2007, 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.
76
City of Cape Girardeau, Missouri
'NOTES TO BASIC FINA."lCIAL STATEMENTS
June 30, 2011
NOTE S -CONTINGENCY -Continued
This project involves the conversion of the fonner Sears facility into a call center for National Asset
Recover Services (NARS) 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 I % 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 $627.53.
Beginning in year six ofthe agreement, 50% ofthe gross rentals from the NARS 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.
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, 2011, the City incurred payments of$39,729 under the development
agreement. This amount is included in the Development Services expenses on the Statement of
Activities.
NOTE T -SUBSEQUENT EVENTS
On November 15,2010 the City approved Abatement Order on Consent #1003 issued by the Missouri
Department of 'Natural Resources. This was an administrative action taken by the Missouri Department
of Natural Resources as result of their belief that the City was in violation of the Missouri Clean Water
Law. As a result of the Order, the City has agreed to pay a $15,000 civil fme, commit at least $111,000
to a supplemental environmental project, and construct a new wastewater treatment plant that is in
compliance with current Missouri Clean Water Law.
77
City of Cape Girardeau
General
Statoment of RevenueR, expenditures, and Chengea In Fund Balances
For the Year Ended June 30,2011
Budgeted Amounts
Original Final
REVENUES
T.... $ '4,412,898.00 $ 14,412,698.00
Licenses &. pennil$ 1,379,700.00 1,379,700.00
Intergovernmental 590,465.00 590,4e5.oo
Charges for services 258,641.00 256,641.00
Internal charges ,,150,055.00 1.150,0$$.00
Fines and forfeits 825,000.00 825,000.00
Miscellaneous 288.597,00 268,597.00
Investment reven~ 103,497.00 103,497.00
Total revenues 19,008,853.00 19,008,853,00
EXPENDITURES
CUlTent
Adminjstrative 2.308,645.00 1,708,095.00
Contingency 40.000,00 40,000.00
Development Services 1,528,638.00 2,222,638.00
Parks. and Recreation 1,746,664.00 1,812,764.00
Public Safety 11,477,712.00 11,616,012.00
--J Public Works 2,231,659,00 2,346,509,00
00 Total current ~331.316.00 19,74M16,00
Debt service:
Administrative charges 470,00 470,00
Interest 75,377.00 75,317.00
Prindpal 91,000.00 91,000,00
Total debt service 166,647.00 166,847.00
Capital outlay:
Administrative 20,450.00 9,450,00
Parks and Recreation 7,600,00
Public Safety 214,300.00
Public Works
Total capital outlay 20,450.00
Total expenditures
_ (deficiency) of mv",,_
19,518,615.00
over (under) uperu:iilu"'" (509.762,00) (1,142,862.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers !n 4,468,290.00 4,653,29000
Special 3S$e$1$ments 9,000.00 9.000.00
Advance repayments 13,652.00 73,652,00
Asset disposition
Transfers out (4.004,369,00) (4,161,169,00)
Total other financing sources and uses and spedal items 546,553,00 774,753.00
Net change in fund balances 38,791.00 (366,109.00)
Fund balances -beginning 4,462,385.17 4,462,365,17
Prior period adjustment (0. 01 1 (0,01)
Fund balances -ending $ 4,499,176.16 $ 4,094,276.16
~ Budget and Actual
Actual Amounts
Varianee with
Flnllli Budget ~
PoaUive
(N!!ljotlvo)
$ 15.080,989.21
1,388,588.45
eaa.628.37
275,398.93
1,189,365.66
657,413.36
466,014.95
106,166.80
20,050,565.75
$ 666,091.21
8,S1l6.45
298,183.37
16,757.93
39.310.66
(167,566.62)
177,417,95
2.669,80
1,041,712.7$
1,861,241:1.58
95,640,13
2,129,734.90
1,777,702.79
11,382,158.98
2,241,115.26
19,287,601.66
46,645.42
(55,640,13)
92,903,10
35,061,21
233,853,02
105,393,72
458,416.34
1,091.79
67,361,52
91,000.00
159,453.31
(621.79)
6,015.46
7,393,69
7,606.00
204,475,64
7,112.58
219,194.22
19,666,249.19
9,450.00
(6.00)
9,6:/4,38
364,316.56
4,677.316.77
19.649.37
80,511.00
28,350.92
(4,207,841.45)
596.187.47
950,504.03
4.462,365,,7
(0.01)
$ 5,442,689.19
(175,973,23)
10.649.37
6,1359.86
26,350.92
(48,452,45)
(178,565,531
1,34e,e13.03
$ 1,348,813.03
City of Cape Girardoau
Airport
Statement of Revenues, Expenditures. and Changes in Fund Balances· Budget and Actual
For tho Ye.r Ended Juno 30, 2011
Variance with
Budgotod Amounts Fln.I Budget -
POSltiVO
OIi!!Inai Fln.I Actual Amounts (N!llatlvo)
REVENUES
Intergovemmental $ 276,960,00 $ 276,960,00 $ 225,043,31 $ (51,936,69)
Charges for services 323,100,00 323,100,00 327,804,94 4,704,94
Miscellaneous 205,836,00 205,836,00 208,567,12 2,731,12
Investment revenue 720,00 720,00 1,326,13 606,13
Asset disposition 47,50 47,50
Total revenues 606,636,00 606,636,00 762,769,00 (43,647,00)
EXPENDITURES
Current:
Administrative 1,191,488,00 1,251,836,00 , ,160,934,52 90,903.48
Teta' current 1,191,488 OIL 1,251,636,00 1,160,934,52 90,903.48
'" Debt service:
'-0 Ime"",' 599,00 599,00 599,00
Principal 11,BOO,OO 11,BOO,OO 11,800,00
Total debt servtce 12,399,00 12,399,00 12,399,00
Capi1al outlay:
Administrative 1,550,00 11,550,00 11,550,00
Total capital outlay 1,550,00 11,550,00 11,550,00
TOlal expenditures 1,205,437,00 1,275,787,00 1,160,934,52 114,852.48
Excess (deficiency) of revenues
over (under) expenditures \398,601,00) (459,151.00) (398,145,52) 71,005,48
OTHER ANANCING SOURCES (USES) ANO SPECIAL ITEMS
Transfers in 660,583,00 715,583,00 723,624,25 8,041,25
Transfers out
Total other financing SOUrces and uses and special items
(261,782,00)
398,601,00
(261,782,00)
453,801.00
!l61,782,00)
461,642.25 8,041,25
Net change In fund balances (15,350,00) 63,696,73 79,046,73
Fund batances beginnlng 86,374,31 86,374.31 96,374.31
Plior period adjustmem [11,505,28) (11, 505281 P1,505,28)
Fund balances ending $ 74,869,03 $ 59,519,03 $ 138,565,76 $ 79,046,73
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, 2011
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Charges for services $ 902,472.00 $ 902,472.00 $ 1,154,872.72
Intemal charges 1,025.66
Miscellaneous 13,800.00 13,800.00 14,765.68
Investment revenue 3,240.00 3,240.00 11,327.14
Total revenues 919,512.00 919,512.00 1,181,991.20
EXPENDITURES
Current:
Parks and Recreation 2,145,194.00 2,327,894.00 2,089,912.81
Total current 2,145,194.00 2,327,894.00 2,089,912.81
Capital outlay:
00 Parks and Recreation 17,409.25
0
Total capital outlay 17,409.25
Total expenditures 2,145,194.00 2,327,894.00 2,107,322.06
Excess (deficiency) of revenues
over (under) expenditures (1,225,682.00) (1,408,382.0QL (925~30.86)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 1,225,682.00 1,225,682.00 1,086,998.25
Asset disposition 8,274.98
Transfers out (1,816.52)
Total other financing sources and uses and special items 1,225,682.00 1,225,682.00 1,093,456.71
Net change in fund balances (182,700.00) 168,125.85
Fund balances beginning 243,805.09 243,805.09 243,805.09
Fund balances -ending $ 243,805.09 $ 61,105.0~ $ 411,930.94
Variance with
Final Budget
positive
(Negative)
$ 252,400.72
1,025.66
965.68
8,087.14
262,479.20
237,981.19
237,981.19
(17,409.25)
(17,409.25)
220,571.94
483,051.14
(138,683.75)
8,274.98
(1,816.52)
(132,225.29)
350,825.85
$ 350,825.85
See Independent Auditors' Report.
City of Cape Girardeau
Transportation Sales Tax Trust Fund III
Statement of Revenues, Expenditures, and Changes)" Fund Balances -Budget and Actual
For the Year Ended June 30, 2011
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget·
Posltlve
(Negative)
REVENUES
Taxes
InveSbnent~nue
Total revenues
$ 2.985.000.00
46.000.00
3,033.000.00
$ 2.985.000.00
48.000.00
3.033,000.00
$ 2.610.513.33
151.219.84
2,761.733.17
$ (374,486.67)
103,219.84
__(271,266.83)
EXPENDITURES
Current:
Development Services
Total current
63.000.00
63.000.00
72,000.00
72,000.00
60,949.76
60,949.76
11.050.24
11.050.24
00 Capital ouHay:
Capitallmprovemenl Projects
Total capilal outlay
Total expend~ure.
1.175.369.00
1.175.369.00
1.236,369.00
3.525,36900
3.525,369.00
3.597.369.00
1.690.573.03
1,690,573.03
1,751.522.79
1.834.795.97
1.834.795.97
__1_,845.646.21
Excess (deficiency) of revenue.
over (under) expenditures 1.794.631.00 __(564.369.00) 1.010.210.38 1.574,579.38
OTlfER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Total other financing sources and uses and special items
Net change in fund balances
350.000.00
350,000.00
2.144,631.00
350.000.00
350.000.00
(214,369.00)
350.000.00
350,000,00
1,360.210.36 1.574,579.38
Fund balances -beginning
Fund balances -ending
1,664,611.61
$ 3.809.242.61
1.684.611.61
$ 1,450,242.61
1,664,611.61
$ 3.024,821.99 $ 1,574,579.38
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2011
BUDGETS AND BUDGETARY ACCOUNTING
The City adopts annual operating budgets for all funds except Stonn Water Projects from Stonn
Water Sales Tax Fund, Park Improvement Projects from Park I Stonn Water Sales Tax Fund and
Water System Improvement Project Fund which have project length budgets and the Cape Girardeau
Municipal Development Foundation, the Cape Girardeau Public Safety Foundation, and the Cape
Girardeau Parks Development Foundation whose main purposes are to solicit and collect donations.
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. Fonnal 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 21,2010 and amended on
February 22, 2011, March 21, 2011, and July 5, 2011. The initial budget and final
amended budget are both reflected in the financial statements.
For the year ended June 30, 2011, the fund expenditures for Vision 2000, Dovmtown Business
District, Motor Fuel, Capital Improvement Sales Tax-Water System Improvements, Capital
Improvement Sales Tax-Sewer System Improvements, Transportation Sales Tax Trust Fund II,
Transportation Sales Tax Trust Fund IV, General Capital Improvements, and Park Improvements
exceeded their approved budgets by $3,102, $1,594, $290, $6,627, $7,654, $23,516, $127,920,
$137,817 and $2,985, respectively.
82
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2011
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 Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and
Actual (Budget Basis) for all governmental fund types is prepared on a budgetary basis which
includes encumbrances as expenditures.
The following reconciliation adjusts GAAP basis to budget basis:
Excess (Deficieney) of Rewnues and Other
Financing Sources Over (Under) Exp,mditures and
~[FinancingJ,[R§
Park Projects
Parks and Transportation From Park Non-major
General Aml.Q!l lil;creat.i.rul InIstUl Sales. Tax Funds
GAAPBa'iis $ 930.338 $ 67.336 $ 163,985 $ 47l,004 $ (3,585,453) $ (136,703)
Jncrcase due to:
Year-end encumbrances
Administrative services 1,555 6,266 24,632
Development services 5,809 161.l,483
Parks and recreation 14,834 4,903 12,712
Public Safety 24.021 208
Public Works 13,931
Capital outlay 4,471,862 632,124
Contingency
Funds not budgeted aTlnUil:l!y 3,585,453 2&7,951
Advance from other finds 80,512
Adjust investments to market 16,178 622 2,534 34,551 51,416
Encurnbrance revenue _--,,8£> _. 4.48Q --~ _ . ...191,210 --_.~----
_]25,;[62 ._lU@ __7.437 _...4.J.QM..12 .---3,585.453 I 511Q.1311
Decrease due to:
Year-end enrumbrances
Admlnistrative services 8,838 15,001
Development services 24,916 38,416
Parks and recreation 1,263 3,296 4,885
Public safety 98,857 25,454
Public works 27,688
Capital outlay 2,123,081 519,191
Contingency 4,948
Encumbrance revenue 8,589 894,126 520,742
Adjust invest to market
-~-.~---_. --.-. ----
_Jl?,099 _11"OJl1 ~ _ ...M.!.'1.ill .~~--------
Budget Basis $ 28~ $...~~ ~16.~~ L Il6qJIQ L-.~
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,
83
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2011
BUDGETS AND BUDGETARY ACCOUNTING -Continued
GAAP Basis
Increase due to :
Prior year encumbrances
Operating expenses
Capital Outlays
Depreciation
Special assessments
Bond proceeds
Interest cost amortized
Cost of bond refunding amortization
Issuance cost amortization
Interest paid more than accrual
Amortized bond premiumldiS(;ount
Adjust investments to market
Amounts deferred to be used for future deht
service on capital appreciation bonds
Construction fund earnings
Interest subsidy received
Net OPEB ohligation
Asset dispositions
Decrease due to:
Year-end encumbrances
Operating expenses
Capital outlays
Landfill closure and maintenance costs
Cost of bond refunding amortization
Issuance cost amortization
Interest paid more than accrual
Bond principal paid
Amortized Bond premiumldiscount
Capital outlays
Adjust investments to market
Asset DispOSitions
Deferred revenues
Adjustment to liability for future landfill
postclosure maintenance costs
Contributed capital
.Scwer
$ 2,667,155
83,026
2,042,450
2,146,179
12,775
313,157
18,836
10,545
148,596
365,025
30,819
68,128
5,239,536
1,031,534
826,492
33,295
2,199,500
1,630,323
404,804
198,1 71
6,324,120
Net Income (Loss '!
Water
Solid
y/aste
Gulf
Course
$ 1,704,557 $ (198,558) $ (82,200)
6,573
\6,470
1,447,889
4,066
10,698
455,283
3,341
118,721
42,610
15,205 6,190
17,148
42,780 9,405 285
6,884 10,411 10,345
~ 4,507
1,583,21;; 51J,642 132,692
174,935 16,832 249
10,236
1,611
12,333
925,000 218,690 26,704
11,697 3,420
323,427 99,717 1,187
28,369 38,406
1,889
Softball
Comgle;x
$ 713,268
8,498
24,918
3,462
JZ,llQ
7,646
16,625
3,117
1,344592 19.419 72;;,600
2,830,589 38Q,265 ._ 47559 ~988
Budget Basis $1582511 ~1180 LL654.iW. $ 29.11 L ~~
84
232
City of Cape Girardeau, Missouri
NOTES TO BI.JDGETARY COMPARISON SCHEDULES
June 30, 20 II
BUDGETS AND BUDGETARY ACCOUNTING -Continued
~lJnc()m\li1oss)
Data Fleet Employee Risk Equipment
Proc~sil]g M~~ru W= MlIDl!gem~nt Repll1cement
GAAPBasis $ 64,125 $ (59,566) $ 382,707 $ 374,041 $ 43,231
Increase due to:
Prior year encumbrances
Operating expenses 7,058
Capital Outlays 51,361 6,935 6,494
Depreciation 58,336 17,949 268,239
Deferred revenues 14,814
Issuance cost amortization 546
Difference between proceeds from
sale of fixed assets and gain or loss
Net OPEB Obligation 7,581 35,574
Adjust investments to market __-252 __25 _~1.619 16.197 6,188
._~!7,933 ___82,355 11,619 .---16.1 97 -IDdiiZ
Decrease due to:
Year-end encumbrances
Operating expenses 330 4,157
Capital outlays 58,651
Interest paid more than accrued 117
Adjust investments to market
Amortized Bond premium/discount 367
Principal paid 40,000
Capital outlays __79,125 __17,867 215.846
138,106 _22.024 256.330
Budget Basis $. 43252 L . .lQ.i ~._394 326 ~m L~
85
CITY OF CAPE GIRARDEAU, MISSOURI
Schedule of Funding Progress
June 30, 2011
(b) (b-a) [(b-a)/c)]
00 (a) Entry Age Unfunded (c) UALasa'" Actuarial Actuarial Actuarial Accrued (alb) Annual Percentage of
Valuation Value Accrued Liability Funded Covered Covered
Date Of Assets Liability (VAL) Ratio Pa}:!oll Payroll
2/28/2009 $ 26,852,264 $ 30,816,797 $ 3,964,533 87% $ 13,852,177 29%
2/2812010 28,033,747 31,677,279 3,643,532 88% 14,192,849 26%
2128/2011 28,180,987 32,648,850 4,467,863 86% 13,842,403 32%
See Independent Auditors' Report.
SUPPLEMENTAL INFORMATION
City of Cape Girardeau
Vision 2000
Statement of Revenues, Expenditures, and Changes in Fund BaJances Budget and Actual w
For the Year Ended June 30, 2011
Variance with
Budgeted Amounts Final Budget
Original Final Actual Amounts
Positive
(Negative)
REVENUES
Investment revenue
Total revenues
$ $ $ 86.82
86,82
$ 86.82
86.82
EXPENDITURES
Total expenditures
Exoess (defidency) of revenues
over (under) expenditures 86,82 86,82
00
......,J
OTHER FINANCING SOURCES (USES) AND SPECIAl-ITEMS
Transfers out
Total other financing sources and uses and specialltems
Net change in fund balances
Fund balances beginning
Fund balances ending $
3,025,92
3,025.92
3,025,92
$ 3,025,92
(3,101.94)
(3,101.94)
(3.015.12)
3,025.92
$ 10,80 $
(3,101.94)
(3,101.94)
(3,015.12)
(3,015,12)
See Independent Auditors' Report.
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, 2011
Variance with
BudgetQ(j Amounts Final Budget·
Positive
OriQ'nal Final Actual Amounts !NeiatiVOl
REVENUES
T....
Intergovemmental
Miscellaneous
Investment revenue
T0181 revenues
$ 1,720.920,00
21,000,00
1,741,920,00
S 1,120,920.00
21,000,00
1,741,920.00
$ 1,766,534.92
25,539,02
500,00
12,929.01
1,805,502.95
$ 45,6'\4.92
25,539,02
500.00
~8,070,991
63,5a2.95
EXPENDITURES
Current
Administrative
Total current
1.790,740.00
1,790,740.00
1,975,090,00
1,975,090.00
1,912.69EL65
1,912,896.65
62,193.35
62,'93.35
00
00
Tota! expenditures
Excess {deficiency) of revenues
OYer (under) expenditures
1,790!?~0 00
(46,820.00)
1,975,090,00
(233,170,00)
1,912,896,65
(107,393,70)
62,193,35
125.776.30
Net change in fund balances (46,820.00) (233,170.00) (107,393,70) 125,776.30
Fund balances -beginning
Fund balances ending S
005,746.52
616.926.52 $
665,746.52
432,576.52 $
665,146.52
556,352,82 $ 125,776.30
See Independent Auditors' Report.
City of Cape Girardeau
Downtown Business District
Statement of Revenues, ExpenditurG:s. and Changes in Fund Balancn -Budget and Actual
For the Year Ended June 30, 2011
Budgeted Amounto
Original Final Actual Arrtoun~___
Variance with
Final Budget.
PositiVQ
(Negative,
REVENUES
Taxes
investment revenue
$ 20,825,00
1,500.00
$ 20,825.00
1,500.00
$ 32,051.70
1,102.03
$ 11,226.70
1397.97)
T etal revenues 22,325.00 22,325.00 33,153.73 10,828.73
EXPENDITURES
Current:
Deve~pmemSeN~s 12,325.00 12,325.00 13,919,49 (1,594.49)
T olal curren! 12,325.00 12,325.00 13,919,49 (1,594,49)
<X>
""
Debl Service:
Interest
Pnndpel
Total debt &el"\Ilce
Total """"ndttures
Excess (deHdoncy) of revenue.
over (under) expenditures
5,073.00
4,927.00
10,000.00
22,325.00
5,073.00
4,927.00
10,000.00
22,325,00
5,03322
4,966,78
10,000,00
23,919,49
9,234.24
39.78
(39,78)
(1,594.49)
9,234.24
Net cI1ange In fund balance. 9,234.24 9,234.24
Fund balances beginning
Fund balances ending
33,828.55
$ 33,828.55 $
33,828.55
33,82B.55
33,828.55
$ 43,002.79 $ 9,234.24
See Independent Auditors' Report.
City of Cape Glrard.au
Health
Statement of Revenues, Expenditures, and Changes in Fund Balances .. Budget and Actual
For lIle Vear Ended Juno 30, 2011
Variance with
Budljeted Amounts F{nal Budget ~
Positive
Original Final Actu.t Amounts !NegativO!
REVENUES
Taxes
licenses & pennits
Intergovernmental
Investment revenue
Talai revenues
$ 310,440.00
4,000.00
7,575,00
12,000.00
334,015,00
$ 310,440.00
4,000.00
7,575.00
12,000.00
334,015.00
$ 309,707.80
7,396,00
7,948,99
12,669,42
337,722,21
$ (732.20)
3,396,00
373.99
669.42
3,707,21
EXPENOITURES
Current
Public Safety 334,015.00 334,015,00 312,949,16 21,065.84
'0
0
Total current
T olal expenditures
Excess (deficiency) of revenu••
over (under) expeOdHu,es
334,015,00
334,015,00
334,015.00
334,015.00
312,949.16
312,949.16
24,773.05
21,065.84
21,065,84
24,773.05
Net change tn fund balances 24,773,05 24,773,05
Fund balances beginnIng
Fund balances ending $
448,688,24
446,688.24 $
446,688,24
446,688.24 $
446,688.24
471.461.29 $ 24,773.05
-----
Cily of Cape Glrard ••u
Motor Fuel Tax
Statement of Revenues. expenditures, and Changes in FUnd Balances,. Budget and Actual
For tho Y ..r Ended Juno 30, 2011
Variance with
Budgeted Amounts Final Budget·
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental $ 1,324,000.00 $ 1,324,000.00 $ 1,356,235.59 $ 32,235.59
Investment revenue 3,740.00 3,740.00 8,913.96 5,173.96
Total revenues ----1.327,740.00 1,327.740.00 1,365.149.55 37.409.55
EXPENDITURES
Current:
Public Safety 289.53 (269.53)
Totaj current 269.63 ~2B953)
Total expenditures 289.63 (289.53)
Exces$(defidency) of revenues
over(undeQexpend~ures 1,327,740.00 1,327,740,00 1.354.659.92 37,119.92
'"-OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments 4.468.00 4,468.00 4,570.55 102.65
Transfers out !1,320,000,OO) p,320,000.001 (1,320,000.00)
Total other financing sources and uses and special items 11,3 15,532.00) ~1 ,315.532.00) (1,315,429.351 102,65
Net change in fund balances 12,206.00 12,208.00 49,430.57 37,222.57
Fund balances -beginning 161,548.30 161,548,30 161,546.30
Fund balances -ending $ 173,796.30 $ 173,756.30 $ 210,976.87 $ 37,222.57
See lndependent Auditors' Report.
City of Cape Girardeau
Capital Improvement Sales Tax"Flood Control
Statament of Revenues, expenditures, and Changes In Fund Balances Budget and Acwal
w
For the Year Ended June 30, 2011
Variance with
Budgeted Amounts FInal Budget ..
PosItive
Original Final Actual Amounts (NegatlvGl
REVENUES
1nvestment revenue S $ S 1,587,77 $ 1,587,77
T mal revenues 1,587,77 1,587,77
EXPENDIWRES
CapHal outlay:
Capital Improvement Projects 17,000,00 17,654.60 1654,60)
Total capital outlay 17,000.00 17,654,60 (654,601
T alai expenditures 17,000,00 17,654.60 (654,601
Excess (deficiency) of revenues
IV '" over (under) expenditures 11 1 ,000,00) (16.058,83) 933,17
OTHER ANANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out (45,000.00) 45,000,00
Total other financing sources and uses and special items (45,000,00) 45,000,00
Net change in fund balances (62,000,00) (16,066.63) 45,933,17
I'=und balances -beginning 59,577.12 59,577.12 59,571.12
Fund balances -ending $ 59,577.12 $ (2,422,88) $ 43,510,29 S 45,933,17 =
See Independent Auditors' Report.
City of Cape Glrard••u
Capital Improvement salas Tax~WatGr Systsm Improvements
Statement of Revenues, ExpendltunJa. and Changes In FUnd Balances -Budget and Actual
Fortha Year Ended June 30, 2011
Original
Bud9~Amounts
Final Actual Amounts
Variance with
Final Budget.
Posilive
(Negative.
REVENUES
Tax..
Investment revenue
$ 2,190.700.00
100.000.00
$ 2,190,700.00
100.000.00
$ 2.225.580.51
78,918.05
$ 34.880.51
(21.081.95)
Total revenues 2.290,700.00 2,290,700.00 2.304,498.56 13.798.56
EXPENDITURES
Cvrrent:
Development Services;
Total current
38.000.00
38,000.00
40,700.00
40,700.00
48,354.01
48,354.01
(7,654.01)
(7,654.01)
\0 w
Debt SO!Vlce:
Administrative charges
Interest
Prindilal
Total debt servlce
59,719.00
56t,120.00
1,110,000.00
1,130,839.00
62,469.00
583,370.00
1,130,600,00
1,776,439.00
61.534.57
583,277.85
1,130,600.00
1,775,412.42
934.43
92.15
1,026.58
Total expenditv .... 1,768.839.00 1.817.139.00 1,823,766.43 (6,627.43)
Excess (deficiency) of revenves
()Ver (under) expenditures ~~521,S61.00 473,561.00 480,732.13 7,171.13
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
Transfer out 11,400,000.00)
4,350.97
(1,400,000.001
4,350.97
T01al other financing sources and uses and specJalltems (1,400,000.00) (1,395.649.03) 4,350.97
Net change In fund balances 521,861.00 (926,439.00) (914,916.90) 11,522.10
Fund balances beginning 2,252.035.23 2,252.035.23 2.252,035.23
Fund balances ending -.! 2,773,89623 $ 1,325,596.23 $ -.!._337,118.33 $ 11,522.10
City of Ca"" Girardeau
Transportation Sales Tax Trust Fund
Statement of R&venue&, Expenditures, and Changes In Fund Balances -Budget and Actual
For the Year Ended June 30. 2011
Variance with
9udg«3:ted Amo"'llts Final Budget ..
PosItive
Original Final Actual Amounts (Negative!
REVENUES
Investment revenue $ 12.400,00 $ 12,400,00 $ 12,074.45 $ l325,55)
Total revenues 12.400,00 12,400,00 12,074,45 i325,55)
EXPENDITURES
Debt service:
Administratlve charges 470,00 470,00 416,00 52,00
Interest 12,423,00 12,423,00 12,423,00
Principal 123,000,00 123,000,00 123,000,00
Total debt service 135.893,00 135,893,00 135,841,00 52,00
;g Capilal ounay:
Capital Improvement Projects 3,500,00 3,447,68 52,32
Total capital outlay
Total expenditutes 135,893,00
3,500,00
139,393,00
3,447,68
139,268,66
52,32
104,32
Excess (deficiency! of revenues
over (under) expenditures (123,493,00) __(126,993,00) (127,214,23) (221,23)
OTHER FINANCING SOURCES (USES! AND SPECIAL ITEMS
Special assessments
Tolal other financing sources and uses and special items
Net change in fund balances
55,100,00
55,100,00
(68,393,00)
55,100,00
55,100,00
(71,893.00)
58,916,14
58,916,14
(68,298,09)
3,816,14
3,816,14
3,594,91
FUnd balances beginning
Fund balances ending $
233,488,15
165,095,15
233,488,15
$ 161,595,15 $
233,488,15
165,190,06 $ 3,594,91
City ot Cape GIrardeau
Capital Jmprovement Sales Tax-&.twer system Improvementa
Statement of Revenues. ~ndlturaaJ and Changes In Fund Batam:es -Budget and Aetu3f
For the Year Endod June 3D, 2011
Valiance with
Budgeted Amounts Final Budget-
Positive
Original Final Actual Amounts (Negative)
REVENUES
T""". $ 2,100,700,00 $ 2,190,700,00 $ 2,225,604,58 $ 34,904,56
Inve$lment revenue 12,000,00 12,000.00 15,215.46 3,215.48
Tota! revenues 2,202,700,00 2,202,700.00 2.240,820.04 38,120.04
EXPENDITURES
Current
Development Services 38,000,00 40,700.00 46,354.00 (7,854,001
Total t:tIrrent 36,000.00 40,700,00 46,354.00 (7,654,001
Total expenditures 38,000,00 40,700.00 46,354.00 j7.654,00)
\0
V.
ExceSS (deficiency) of revenues
over {under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITellS
Transfers out
Total other financing soun::es and uses and special Items
Net change in fund balances
2.184,700.00
(1,702,899.00)
!',702,B99,00)
461,801.00
2,162,000.00
(2,816,599,00)
(2,816,599.00)
(654,599,00)
2,192,466.04
(2,618,599,00)
(2,616,599,00)
(624,132,96)
30,466.04
30,466.04
Fund balances. -beginning
Fund balances -ending $
1,150,395.58
1,612.196.58 $
1,150,395,58
495,79$,58 $
1,150,395.56
526,262,62 $ 30,466.04
city of Cape Glrard98U
Transportation Sales Tax Trust Fund II
Statament of RevanueB. Expendltuf9S. and Changes In Fund Balances ~ Budget and Actual
For the Y98r Endod Juna 30. 2011
Variance with
Budgeted Amounts Final Budget •
Positive
Ort~inal Final Actual Amounts !N!!!"!'''''
REVENUES
InvutJnent revenue
Total revenues
EXPENDITURES
Capital outlay:
capital rtnprovement Projects
Total C8pita1 outJay
Total expenditures
Excess (deficiency) of revenues
over (under} expenditures
0\ '"
OTHER FlNANCING SOURCES (USES) AND SPECIAL ITEMS
S~al assess~nts
Total other financing sources and uses and special nems
Net change In fund balances
Fund balances -beginning
Fund balances -ending
$ 6,700,00
6,700.00
6,700.00
41,100.00
41,100.00
47,800.00
47,571.52
$ 95,371.52
$ 6,700,00
6,700.00
6.700,00
41,100.00
41,100.00
47,800.00
47,571.52
$ 95,371.52
$ 9,92229
9,922.29
(23,516.49)
(23.516.49)
__(23,516.49)
33,438.78
29,541,91
29,541.91
62,980,69
47,571.52
$ 110,552.21
S 3,222,29
3,222.29
23,516.49
23,516.49
23,516.49
26,738.78
(11,55809)
(11,558.09)
15,180.69
$ 15,180.69
City of Cape Girardeau
Fire Sales Tax
Statement of Rewnues. Expenditures. and Changes In Fund Balances .. Budget and Actual
For the Year Ended June 30, .2011
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Pordtlve
JNog.tI""j
REVENUES
Taxes
Total revenues
$ 2,123,310.00
2,123,310,00
$ 2,123,310.00
2,123,310,00
$ 2,152,560,98
2,152,560.98
$ 29,250.98
29,250,98
EXPENDITURES
Total expenditures
Excess (defidency) of revenues
over {under) upenditures 2,123,310,00 2,123,310.00 2,152,580,98 29,250.98
\0
""
OTHER FINANCING SOURCES (USESj AND SPECIAL ITEMS
Transfers out
Total ott'Ier fInancing sources and uses and speclalltems
Net change in fund balances
12 ,120,774,001
12 ,120,774,001
2,536,00
{2,17Q,774,OO1
\2,170,774,001
(47,464.00)
(2,135,156,89 1
(2,135,156,89)
17,404,09
35,617,11
35,817.11
64,868,09
Fund balances -beginning
Fund balances -ending $
199,508,40
202,044.40
199,508.40
$ 152,044,40
199,508.40
$ 216,912.49 $ 64,86S,09
see Independent Auditors' Report
City of Cape Girardeau
Public Safety Trust
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year E.nded June 30, 2011
Variance with
Budlileted Amounts Final Budget·
Positive
Oni1nal Final Actual Amounts (Nelilstivel
REVENUES
Investment revenue
Total revenues
$ 21,900.00
21,900.00
$ 21,900.00
21,900.00
$ 31,942.87
31,942.87
$ 10,042.87
10,042.87
EXPENDITURES
Current:
Public Safety
Total current
3,541.86
3,541.B6
(3,541.861
(3,541.B6)
Debt service:
\0
00
Administrative charges
Interest
Principal
T mal debt service
500.00
151,156.00
563,992.00
715,648.00
500.00
151,156.00
563,992.00
715,648.00
1,878.46
145,847.15
563,992.00
711,717.61
(1,378.46)
5,308.85
3,930.39
Capital outlay:
Capital Improvement Projects
Public Safety
Total capital outlay
Total expenditures
239,441.00
239,441.00
955,089.00
239,441.00
239.441.00
955,OliS.00
1,398.37
232,030.39
233,428.76
948,688.23
(1,398.37)
7,410.61
6,012.24
6,400.77
Excess (deficiency) of revenues
over (under) expenditures (933.189.001 \933,189.00) (916,745.36) 16,443.64
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Transfers out
Total other financing sources and uses and special items
Net change in fund balances
Fund balances -beginning
Fund balances -ending
2,120,774.00
1',159,38700)
961,387.00
28,198.00
806,999.60
$ 835,197.60 $
2,145,774.00
(1,184,387.00)
961,38700
28,198.00
806,999.60
835,197.60 $
2, 135,156.89
(1,166,578.44)
968,578.45
51,833.09
805,999.60
858,832.69 $
(10,617.11)
17,80li.56
7,191.45
23.635.09
23,635.09
See lndependent Auditors' Report
City of Cape Girardeau
Debt Servk:e
Statement of R.venu.... , expenditures, and Changes In Fund BaJancos -Budget and Actual
For the Yea, Ended June 30, 2011
Variance with
Budgeted Amounts F!na! Budget-
Positive
Orlgln.' Flna! Actu.! Amounts (Negalive)
REVENUES
Investment revenue $ 4,420.00 $ 4,420.00 $ 5,184.74 $ 784.74
Total revenues 4,420.00 4,420.00 5,184.74 764.74
EXPENDITURES
Debt service:
Administrative charges 2,842.00 2,842.00 2,621.50 20.50
Interest 125,992.00 125,992,00 125,992,00
172,000.00 2,132,000.00 2,132,000,00Prtncip.'
To!al deb! service 300,834.00 2,260,834.00 2,260,813.50 20.50
'D Total expenditures 300,834,00 2,260,834.00 2,260,813.50 20.50'D
Excess (deficiency) of revenues
over (under) expenditures (296.414.00) (2,256,414.00) (2,255,628.76) 785.24
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 261,762.00 1,955,282.00 1,955,282.00
Special assessments 33,000.00 33,000,00 33,517.94 517.94
Total other financing sources and uses and speCial items 294,762.00 1,988,282.00 1,988,799.94 517.94
Nel change In fund balances (1,632.00) (268,132.00) (266,828.82) 1,303.18
Fund balances -beginning 289,063.86 289,063.86 289,063.86
Fund balances -ending $ 287,431.88 $ 20,931.8~ 22,235.04 $ 1,303.18
See Independent Auditors' Report.
City of Cape Girardeau
General Capital Improvements
Statement of Revenues, Expenditures, and Cfulnges in Fund Balances ~ Budget and Actua~
For the Year Ended June 30, 2011
OrIginal
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget·
Positive
(Nogative)
REVENUES
Intergovernmental
Investment revenue
T<>tal revenues
$
6,000,00
6,000.00
$
6,000.00
6,000.00
$ 92,978.53
4,111.13
97,089.66
$ 92,978.53
(1,888.87)
91,089.66
-0
0
EXPENDITURES
Capftal outlay:
Capital Improvement Projects
Total capftal outlay
Total expenditures
Excess (deficiency) of revenues
ever (under) expenditures 6,000.00 6,000,00
137,817.44
137,817.44
137,817.44
(40,727.78 1
(137,817.44)
(137,817.44)
(137,817.44)
__(46,727.78)
OTHER FINANCING SOURCES (USES) AND SPECIAL tTEMS
Transfers in
Total other financing sources and uses and speCial items
Net change in fund balances 6,000.00 6,000.00
00,000.00
60,000.00
19,272,22
60,000.00
60,000.00
13,272.22
Fund balances -beginning
Fund balances -ending
196,926,95
$ 202,926.95
196,926.95
$ 202,926.95
196,926.95
$ 216,199.17 $ 13,272.22
See Independent AuditorS' Report.
City of Cape Girardeau
Street Improvements
Statement of Revenues, Expenditures, and Changes in Fund Balances· Budget and Actual
For the Year Ended Juno 30, 2011
Variance with
Budgeted Amounl$ Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES
Investment revenue $ 6,800,00 $ 6,800,00 $ 6,689.59 $ (110.41)
Total revenues 6,800.00 6,800,00 6,689,59 (110.41)
EXPENDITURES
Total_ndftures
Excess (deficiency) of revenues
over {under} expenditures 6,800,00 6,800,0~ ____6,689.59 (11041)
:; OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
-Special Assessments 13,700,00 13,700,00 10,489.78 (3,210,22)
Total other financing sources and uses and spacial items 13,700.00 13,700,00 to,489,78 (3,210,22)
Net change In fund balances 20,500,00 20,500,00 17,t79.37 (3,320,63)
Fund balances beginning 37,553.41 37,553.41 37,553.41
Fund balances ending -S 58,053,'!!.. $ 68,053,41 $ 54,732.78 __ (3,320,63)
See Independent Auditors' Report.
City of Cape Girardeau
Park Improvements
Statement of Revenues, Expenditures. and Changes In Fund Balances ~ Budget and Actual
REVENUES
Intergovernmental
Investment revenue
Total revenues
EXPENDITURES
Debt service
Interest
Total debt service
;; capital outlay
t,,) Capdallmprovement ProJects
Tolal capital outlay
Total """"nddu,••
Exces. (defiCiency) of revenue.
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfer& in
Total other financing sources and uses and special items
N.t change in fund balances
Fund balances -beginning
Fund balances -ending
For the Ye.r Ended June 30,2011
Origlna'
Budgeted Amounts
Final Actual Amounbt
$ $ $ 20,503,05
161.83
20,664.88
3,111.66
3,111,66
65,000,00
65,000,00
65,000,00
64,873,15
64,673.15
67,984,81
(65,000.00) (47,319,93)
$
(75,454,71 J
(75,454,71) $
5,000,00
5,000,00
(60,000.00)
(75,454,71 1
(135,464.71) $
114,816,85
114,816,85
67,496,92
(75,454,71)
(7,957,79)
Variance with
Flnal Budget
Positive
(Negative)
$ 20,503.05
161.83
20,664,88
(3,111,66)
(3,111.66)
126,85
126.85
(2,984.81)
17,680,07
109,816.85
109,816.85
127,496,92
$ 127,496.92
Cit)' of Cape Girardeau
Community Development Block Grant Projects
Statement of Revenues, Expenditures, and Changes in Fund Balances ~ Budget and Actual
For the Ye.r Ended June 30. 2011
Original
Budgeted Amounts
Final Actual Amounts
Varlant:G with
Final Budget·
PosItive
(Negative)
REVENUES
Intergovernmental
Investment revenue
$ $ $ 399.999.94
949.81
$ 399.999.94
949.81
Total revenues 400,949.75 400.949.75
-0 w
EXPENDITURES
Cu"",nt:
Development Services
Total current
Debl service:
Interest
Tolal debt service
Totalexpendi1lJms
Excess (deficiency) of revenues
over (under) expendRures
405,000.00
405,000.00
405,000.00
(405,000.00)
400,340.44
400,340.44
295.00
295.00
400,635.44
314.31
4.659.56
4,659.56
(295.00)
(29500)
4.364.56
405.314.31
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Transfers out
Total other financing sources and uses and special items
325.00
(218.1'1
106.B9
325.00
(216.11)
106.89
Net change in fund balances (405,000.00) 421.20 405,421.20
Fund balances beginning
Fund balances ending
36,740.64
$ 36,740.64 $
36,740.64
(368,259.36)
36,740.64
$ 37,161.64 $ 405,421.20
See Independent Auditors' Report.
City of Cape Glrard.au
Transportation Sal •• Tax Trust Fund IV
Statement of Revenues j Expenditures. and Changes in Fund Balances -Budget and Actual
Forthe Year Ended June 30,2011
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
REVENUES
Taxes
Intergovernmental
Investment revenue
Total revenues
$ $ $ 1,694,721,60
30,000.00
5,966.70
1,730,708.30
$ 1,694,721.60
30,000.00
5,986.70
1,730,706.30
EXPENDITURES
Current
Development Services
T0101 cunent-7,047.13
7,047.13
(7,047.13)
(7,047.13)
0
-I'> Oebt service:
Interest
Total debt ,.rv"",
5.19
5.19
(5.19)
(5.19)
Capital ouHay:
Capital improvement projects
Total capital ouflay
Total expenditures
150,000.00
150,000.00
150,000.00
270,867.42
270,667.42
277,919.74
(120,667.42)
(120,867.42)
__(127,919.74)
Excess (deficiency) of "",enue.
OYer (under) expendltures (150,000.00) 1,452,788.56 1,602,788.56
Fund balance. -beginning
Fund balances -ending $ $ (150,000.00) $ 1,452,788.56 $ 1,602,788.56
City of Cape Girardeau
Park Storm Water Sales Tax
Statement of Revenues, Exp&ndlturGS, and Changes in Fund Balance, -Budget and Actual
For the Year Ended June 30, 2011
Variance with
BUdgeted Amounts Flnol Budget·
PosUive
Original Final Actu~l Amo~!,,1;s__ (N"IIatlvo)
REVENUES
Taxes $ 1 ,062.160.00 $ 1.062,160.00 $ 1,111,SOO.62 S 49.420.62
Investment revenue 3,000.00 3,000.00 20,483.07 17,483.07
Total revenues 1,065,180.00 1,065,180.00 1,132.063.S9 66,903.69
EXPENDITURES
Capital outlay:
Parks and Recreation 100,000.00 100,000.00 100,000.00
Total capital outlay 100,000.00 100,000.00 100,000.00
-0 v.
Total expenditures
Excess (deft"e",,>,) of ",venues
over (under) expenditures
100,000.00
965,180.00
100,000.00
965,180.00 1,132,063.S9
100,000.00
166,903.69
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
Total other financlng sources and uses and special items
Net change in fund balances
(1.015,245.00)
(1,015,245.00)
(50,065.00)
(1,115,245.00)
(1,115,245.001
(150,065.00)
(1,215,245.001
P,215,245.001
(83,161.31)
(100,000.00)
(100,000.00)
66,903.69
Fund balances beginning
Fund balances ending $
295,821.43
245,756.43 $
295,821.43
145,756.43 $
295,821.43
212,S60.12 $ 66,903.69
See Independent Auditors' Report
city of Cap$ Girardeau
Park Storm Water Salas Tax..capital
Statement of Revenues, Expenditures, and Changss in Fund Balances -Budgat and Actual
For tha Va.r Endad Juna 30, 2011
Variance with
Budgeted Amounts Final Budget-
Positive
~lnal Final Actual Amounts (Negative)
REVENUES
Taxes $ 3,186,500.00 $ 3,166.500.00 $ 3,334,801.83 $ 148,301,83
Investment revenue 4,500.00 4,500.00 33,979.62 29.479.62
Total revenues __3,191.000.00 3.191,000.00 3,368.781.45 177.781.45
I!XPENDITURES
Debt service:
Admimstrative charges 5,000.00 5.000,00 3.657.50 1,342.50
Interest 652,756,00 652,756.00 652,756,26 (0.26)
Princ1pal 1,835.000.00 1,835.000.00 1,835.000.00
Tolal debt service 2.492,756.00 2,492.756.00 2.491,413.76 1,342.24
0
0\ Capital outlay:
Parks and Recreation 132,651.00 132,651.00 123,275.81 9,375.19
Tolal capital ovtlay 132,651.00 132,651.00 123,215.81 9,375.19
Total expenditures 2.625.407.00 2,625,407.00 2,614.689.57 10.717.43
Excess (deffel.ncy) of revenues
over (under) expenditures 565,593.00 565,593.00 754.091.88 188.498.88
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 136.534.74 136.534.74
Capital ouHay (5,460.18) (5,460.18)
Transfers out (662,954.00) (662,954.00) (148.531.821 514,422.18
Total other financing sources and uses and special items !662,954.00) (862,954.00) (17,457.26) 645,496.74
Net change in fund balances (97,361.00) (97,361.00) 736,634.62 833,995.62
Fund balances beglnning 688,572.42 868,572.42 688,572.42
Fund balances -ending $ 591,211,42 $ 591.211.42 $ 1,425,201.04 S 833,995.62
See Independent Auditors' Report
City of Cape Glrarde.u
Housing Development Grants
StaWment of Revenues. Expendltures, and Changes In Fund Balances ~ Budget and Actual
For tha Year Ended June 30, 2011
Original
Budgeted Amounts
Final Act'!41 Amounts
Variance wlth
Final Budget
POSitJV8
(Negative)
REVENUES
Intergovernmental
Investment revenue
$ 648,159.00 $ 648,159.00 $ 541M2.54
105.10
$ (107,076.66)
105.10
Total revenues 648,159.00 648.159.00 541,181.44 (106,911.56)
EXPENDITURES
Current:
Development ServiceS 648,159.00 153,159.00 730.295.40 22,863.60
Total current 648,159.00 753,159.00 730,295.40 22,863.60
Debt service:
Interest 4,802.33 (4,802.33)
0
~
Total debt service 4.802.33 (4.802.33)
'" Total expenditures 648,159.00 753,159.00 135,097.73 18,061.27
Excess (deffdency) of revenues
over (under) expenditures _(105,000.OQ) _ -.1193.910,29) _(88,910.29)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 25,000.00 18,161.22 (6,212.78)
Total other financing sources and uses and special items 25,000.00 18,781.22 (6.212.76!
Net change in fund balances (80,000.00) (175,123.01) (95,123.07)
Fund balances -beginning (625.72) (825.72) (825.72)
Prior period adjustment (1,558.80) (1,558.80) (1,558.50)
Fund balances -ending $ (2,384.22) $ (82.354.22) $ _(171.507.29) _$_\95,123.07)
See Independent Auditors' Report.
City of Cape Girardeau
Casino Revenue
Statement of Revenues, Expenditures, and Changes In Fund Balances -Budget and Actual
for the Yoar Ended June 30, 2011
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Investment revenue
Total revenues
EXPENDITURES
Total expenditures
Excess (defidency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
o Asset disposition
00 Spedal H:em
Transfers in
Transfers out
$ $ $ 8.674.26
8.674.26
8.674.26
250.791.00
1.628,343.32
(2.000.000.00) (1.679.134.32l
Variance with
Final Budget ..
Positive
!N!!jallv.,
$ B.674.26
8,674.26
250,791.00
1.626,343.32
Total other finandng sources and uses and special items (2.000.000.00) 2,000.000.00
Net change in fund balances (2.000.000.00) 8.674.26 2,008,674.26
Fund balances beginning
Fund balances ending $ $ (2.000.000.00) $ 6.674.26 $ 2.006,674.26
See Independent Audilors' Report.
8.674.26
120.865.68
City of Cape Girardeau
FAU Grant Projects
Statement of Revenue•• Expenditure•• and Changes In Fund Balance. -Budget and Actual
For the Year Endod June 30. 2011
BUdgeted Amounts
Variance with
Final Budget
REVENUES
Inte!governmental
Investment revenue
Total revenues
EXPENDITURES
Capital outlay:
Capital Improvement Projects
Total capital outlay
-Total expenditures
~
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances -beginning
Fund balances -ending
Original
$
516,158,94
$ 516,158,94
Final
$
75,000.00
75,000,00
75,000,00
175,000 00)
(75,000.00)
516,158,94
$ 441,158.94
Actual Amounts
$ 44,422,20
13,449,82
57,872.Q2
56,314,12
56,314,12
56,314,12
1,557.90
1,557,90
516,158,94
$ 517,716,84
Positive
(Negative)
$ 44,422,20
13,449,82
57,872.02
18,685,88
18,685.88
18,685,88
76,557.90
76,557,90
$ 76,557,90
See Independent Auditors' Report.
City of Cape Girardeau
Sewer
Statement of Revenues. expenditures, and Changes In FUnd Balances -audget and Actual
For the Year Ended June 30, 2011
Varlante with
Budgeted Amounts Final Budget ..
Positive
Orl9.lnal Final Actusl Amounts (Nesative)
REVENUES
Intergovemmental $ $ $ 56,996,53 $ 56.996,53
Residential charges 1.916,250.00 1,916,250.00 1.906.560,51 fI.669".)
Commercial charges 1.323.750,00 1,323.750,00 1,269,832..46 (53,917,54)
Other rees and charges 54,600,00 54,tIOO,OO 52,797,18 (1,802,62)
Inlemal charges 7,315.28 7,315.28
Miscellaneous 50MO 500,00 613.19 313.19
Investment revenue 265,526,00 285,528.00 320,838.61 35,310.61
Teta! revenues 3.560.626,00 3,560,626.00 3,817,153,76 36,525,78
EXPENDITURES
Current:
Contractual services 438,419.00 1.671.975,15 1,716,611.51 (48.836,36)
General operating expenses 212.531,00 214,005.24 203,376.04 10.629.20
Internal service expense 100,676,00 190,676.00 165,997.6524,678.35
Material and SUpplies-4ea.971 ,00 516.220.61 465,365,26 52.635,35
Personnel services 1,583,365.00 1,5-83,365.00 1,574,oea,16 9,278,84
Special projects expense 25.000.00 25.000.00 15.650,70 9,1A9.30
Tolal current ?,~1E),962.~ 4,203.242.00 4.143,507.32 59,734.68
Debt service:
Administrative charges 98.443,00 96.443.00 98,721.29 (278,29)
Interest 47a.o17,00 476.017.00 (lB5.075,35) 643,092.35
Princlpai 1.563,074,00 1.563,074.00 2,199,500,00 (636,428.00)
Total debt 5ervjce 2,139,534.00 2,139,534,00 2,133,145.94 B.38US
Capital ouUay:
Capital Improvement Projects 140,000.00 132,754.94 7,245.06
Equipment 312,150.00 312,150,00 264,571,85 47,578.15
Other Capital Expenditures 235,000.00 95,000,00 17,038.00 77,962.00
iotal capital outlay 547,150.00 547,150.00 414,364.79 132.785,21
lotal expenditul'e$ 5.605.646,00 6,869,926,00 6,691,018.05 198,907,95
Excess{def~eocy)ofrevenues
over (under) expenditures {2.025.016.0°1 (3,309.208,001 (3,073,664.20) 235,433.71
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfer:; in 1.955,799,00 4,469,499,00 4,505,460.69 35,961.69
ConnedJon fees 8s.o00,00 65,000,00 69.676.61 (15.323,19)
$peciai assessments 5.000,00 5,000.00 12.714.57 7,774,87
Asset disposition 65,329,00 85,320.00 72,022.52 (13,30848)
Transfers out (3.500,00) (3,500,00)
Total other fmancing SIXIrces and I,.ISe$ and speCial items 2,131,125.00 4,644,828.00 4.B56.434J'9 11,606,89
Net change in fund balances 108,110.00 1,335.530.00 1,582,570,60 247,040.60
Fund balances beginnIng
Fund balances ending
580,931_32
$ 6a7,041.32
580,931.32
• 1,916,461.32 $
580,931.32
2,163,501.92 $ 247.040,60
See Independent Auditors' Report.
City of Cape Girardeau
Watsr
Statement of Revenues. Expenditures, and Changes in Fund Balances .. Budget and Actual
For the Year Ended June 30. 2011
Variance with
Budge~d Amounts Final Budgel-
Posltlve
Oni-lnal Final Actual Amounta {Negative)
REVENUES
1ntergovemmental $ $ $ 119,255.41 $ 119,255.41
Residential charges 3,613,500.00 3.613,500,00 3,660,97H3 47,47293
Commercial charges 2,521,000.00 2,521,000.00 2,550,030.63 29,030.63
Other fees and charges 164.350.00 184,350.00 163,537.72 (20,812.28)
Miscellaneous 16,660,00 16,880.00 18,116.73 1,236.73
Investmenl revenue 1....000.00 144,000.00 167,600.93 23,600.93
r atal revenue& 8.479,730.00 6,479,730.00 6,679.514.35 199,784.35
EXPENDITURES
Current
Contractual services 2,674,297.00 2.805,076.26 2,&69,707.52 (64,631.26)
General operating expenses 362.299.00 363,129.00 340,198.62 22,930.38
Internal setvice expense 96,859.00 96,659.00 101,852.88 (4,993.88)
Material and supplies-Personnel services--1,287,092.00
133.572.00
1,275,572.74
201,412.00
1,160,574.39
146,119.94
114,9'98.35
55,292.06
Special projects expen&e 115,000.00 115,000.00 2$4,045,{}6 (139,045.06)
Total current 4,649,119.00 4,857,049.00 4,872,498.41 (15.449,41)
Debt seI'Vice;
Admlnis1rative charges 300.00 300.00 470.25 (170.25)
Interest 143,800,00 143,800.00 143,800,00
Principal 925.000.00 925,000.00 925,000,00
Total debt service 1,069,100.00 1,069,100.00 1,069,270.25 1'70.25)
Capltal ouHay:
Capita~ Improvement Projects 318,348.00 318,348.00 267,738.34 50,609.66
Equipment 107,225.00 59,895.00 49,454.76 10,440,24
Total capital outlay 425,573.00 378.243.00 317,193.10 61,049.90
Talai expenditures 6,143,792.00 6,304,392.00 6,258,961.78 45,430.24
Excess (deficiency) of revenUes
over (under) expenditures .3,35.9;38.00_ 1??,338-.:90 .,,20,552.59 245,214.59
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 6,290,02 6.290.02
Investment revenue 600.00 600.00 676.65 76.65
Special assessments 1,800.00 1,600.00 4.086.51 2,466.51
Asset disposition 9.125.00 9,125.00 23.59435 14,469.35
ToW other financing sources and uses and sped<ill Items 11,325.00 11.325.00 36,627.53 25,302.53
Ne1 change in fund balances 347.263.00 186,863.00 457,180.12 270,517.12
Fund balances ~~ beginning 5,836,662.22 5,636,662.22 5,836,662.22
Fund balances ending $ 6,183.925.22 $ 6.023,325.22 $ 6,293,842,34 $ 270.517.12
See Independent Auditors' Report.
City of Cape Girardeau
Solid Waote
Statement of Revenues, ExpendltunJs. and Changes in Fund Balances· Budget and AetuaJ
For the Yoar Endod June 3D, 2011
Variance with
Budgeted Amounts Final Budget
Pos.ltJV9
O,lglnal Final Actual Amounts (N.~.t1v.)
REVENUES
Intergovernmental $ 15.882.00 $ 15.882.00 $ 1.319.51 $ (14.562.49)
Residential charges. 2.115.000.00 2.115.000.00 2, 133.133.92 18.133.92
Commercial charges 31.500.00 31.500.00 32.509.59 1.009.59
Transfer station charges 964.100.00 964.100.00 863.105.19 (101.594.81)
Other fees and charges 85.200.00 85,200.00 84,117.95 (1.022.05)
Miscellaneous 18.000.00 18.000.00 23.925.44 5,925,44
Investment revenue 22.500.00 22.500.00 41.519.01 19,019.01
Total revenues 3,252.782.00 3.252,782.00 3,180.290.67 __(72,491.33)
EXPENDITURES
=
Current
Conlractual services-General operating expenses-1.312.931.00
34.116.00
1.367.518.88
34,676.00
1,292.863.78
32.268.51
14,115.10
2.407.43
N Interna! serviCe expense
Material and supplies
199.414.00
170,640.00
199,414.00
250.862.12
240.213.26
231.397.26
(40.199.26)
19,465.46
Personnel services 1.055.031.00 1,055,031.00 1,031,590.64 17.440.46
Special projecls expense 98.500.00 94,085.40 19.333.43 14,151.91
Total current 2,870.698.00 3.001.648.00 2,913.666.84 87,981.16
Debt service:
Administratlve charges 261.25 (261.25)
Interest 77,321.00 17,327.00 37,521.26 39,805.14
Prindpaf 192,451.00 192,451.00 218,690.15 (26,239.15)
Total debt .ervice 269.77B.OO 269,778.00 256,472.66 13,305.34
Capital outlay:
Equipment 147,950.00 92,000.00 93,170.30 11,170.30)
Total capital outlay 147,950.00 92.000.00 93,170.30 (1,170.30)
Total expenditures 3,288.426.00 3.363,426.00 3,263,309.80 100.116.20
Excess (deficiency) of revenues
over (uoder) expenditures (35,644.00) __(110,644.00) (83,019.13) 27.624.81
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset disposition 8,300.00 8.300.00 17,538.12 9,238.12
Total other financing sources and uses and specialltems 8.300.00 8,300.00 17,538.12 9,238.12
Net change in fund balances (27,344.00) (102.344,00) (65,481.01) 36,862.99
Fund balances ~ beginning 1.059.219.32 1,059,219.32 1.059,219.32
Fund balances -ending $ 1.031.875.32 S 956.875.32 S 993,738.31 S 36,862.99
See Independent Auditors' Report.
City 01 Cape Girardeau
GolfCou",e
Statement of Revenues, Expenditures, and Changes In Fund Balances· BUdget and Actual
For the Year Ended June 3D, 2.011
Variance with
Budgeted Amounts Final Budget ~
Positive
Original Final Actual Amounts (Negative)
REVENUES
User fees $ 458.200,00 $ 458,200.00 $ 447,242,45 $ (10,957.55)
Concession revenues 28,700.00 28,700.00 36,360,63 7,660,63
Miscellaneous 1,546,15 1.546,15
Investrnentrevenue 1,500.00 1,600,00 1,368,04 (131.96)
Total revenues 488,400,00 488.400.00 486,517,27 (1,882.73)
EXPENDiTURES
Current:
Contractual services 20,125.00 24,587,00 24,004,62 582,18
General operating expenses 8.840,00 7,606,00 6.968.06 (1,160,08)
--Internal service expense
Material and supplies
49,359,00
79.977.00
53.659.00
106.167,00
46,965.49
95.428,44
6.893,51
10,738,56
w Personnel services 365,906.00 377,406.00 379,890.23 (2,484,23)
Special projeets expense 9,700,00 9.700,00 8.836,10 663,90
Total current 533.907,00 579.507,00 554.093,16 15,413,84
Debt service:
Interest 10,563,00 10,563.00 10,562.32 0.68
Principal 26,704.00 26.704.00 26,704.24 (0.24)
Total debt senrice 37.267.00 37,267.00 37,266.56 0,44
capital outlay:
Capital improvement projects 1,185.76 (1,185.76)
Total capital outlay 1,165.76 (1,185.76)
Total expend~ur.s 571.174.00 616.774.00 602.545.48 14.228.52
Excess (deficiency) of revenues
over (under) expenditures (82,774.0ill _(128.374,OOL (116,028,21) 12.345,79
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 82.774.00 82.774,00 105,412.09 22,638.09
Asset disposition 13,548.90 13.548.90
Total other financing sources and uses and special items 82.774.00 82,774.00 118.960,99 36,196.99
Net change in fund balances (45,600.00) 2.932.76 48,532.78
Fund balances -beginning 11,582.01 11.562,01 11,562.01
Fund balances ending 11,~2.01 $ (34.037,99) $ 14,494.79 $ 48,532,78
See Independent Auditors' Report,
City of Cape Glrarde.u
Softball Complex
Statement of Revenues, expenditures, and Changes in FUnd Salances • Budget and Actual
For the Year Ended June 30, 2011
Variance with
BUdgf1ted Amounts Final Budget.
Positive
Original Final Actual Amounts (N!!!"tl",,!
REVENUES
Intergovernmental $ $ $ 311.95 $ 311.95
User fees 125,230.00 125,230.00 152,984.05 27,754.05
Concession revenues 52,955.00 52,955.00 54,935.11 1,980.11
Inlemal chal1jes 3,715.65 3,715.65
Miscellaneous 7,500.00 7,500.00 6,851.01 (648.99)
Investment revenue 600.00 600.00 992.23 392.23
Tetal revenues 186,285.00 186,285.00 219,790.00 33,505.00
EXPENDITURES
Current
Contractual services 29,257.00 24,257.00 10.527.77 13,729.23
General operating expenses 2,865.00 2,865.00 12,777.43 (9,912.43) --.j:,.
Internal service expense
Material and supplies
Per&Onnel services
29,380.00
88,524.00
472,035.00
29,380.00
121,924.00
472,035.00
24,488.67
126,875.66
444,626.34
4,891.33
(4,951.66)
27.406.66
Special projects expense 17,908.00 17,908.00 35,723.90 (17,615.90)
Total current jl39,969J)0 658,369.00 655,019.77 13,349.23
Debt_:
Interest 7,750.00 7,750,00 7,75D.43 (0,43)
Principal 16,626.00 16,626.00 16,625.47 0.53
Total debt service 24,376.00 24,376.00 24,375.90 0.10
Capital outlay:
Capltal improvement projects 3,117.22 (3,117.22)
TOIaI capital outlay 3,117.22 (3,117.22)
Total expenditures 654,345.00 692,745.00 682,512.89 10,232.11
Excess (deficleney) of revenues
over (under) expenditures (478,060.001 (508,460.00) (482,722.89) 43,737.11
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In 478,060.00 493,060.no 465,918.43 (26,141.57)
Asset disposition 760.00 760.00
Transfers out (4,565.65) !4,585.65)
Tolal other finanCing sources and uses and speclalltems 478,060.00 493,060.00 463,112.78 (29,947.22)
Net change in fund balances (13,400.00) 389.89 13,769.69
Fund balances beginning 2,716.34 2,716.34 2,716.34
Fund balances _ ending $ 2,716.34 $ (10,663,65) $ 3,106.23 $ 13,789.89
See Independent Audilors' Report,
City of Cape Girardeau
Management Information Syste-ms
Statement of Revenues, Expenditures.. and Changes In Fund BalanCH * Budget and Actual
For thG Year Ended Juno 30, 2010
Varlanco with
Budgeted A",ounl$ _ Final Budget •
Positive
Original Final Actual Amounts (Negative)
REVENUES
Internal charges $ 400,000.00 $ 400,000.00 $ 396,125.00 $ (1.615.00)
Investment revenue 2,100.00 2,100.00 2,80S.43 105.43
Tolal revenues 402,100.00 402,100.00 400,930.43 (1,169.S7)
exPENDITURES
Current
Contractua! services 123,881.00 130,381.00 112,670.14 17,710.66
General operating expenses 3,315.00 3,375.00 606.37 2,766.63
Material and suppfJes 11,250.00 21,695.00 21,922.32 (227.32)
Personnel services 142,714.00 142,714.00 135,364.49 7,349.S1-Total current 281,220.00 298,165.00 270,563.32 27,601.68-V'>
Capital ouUay:
Equipment 121,000.00 104,055.00 86,414.98 17,640.02
Total capital ouUay 121,000.00 104,055.00 86,414.98 17,640.02
Total expenditures 402.220.00 402.220.00 356.978.30 45,241.70
Exeess(deficiency)ofrevenues
over (under) expenditures (120.00) (120.00) 43.952.13 44.072_13
Net change in fund balances (120.00) (120.00) 43,952.13 44,072.13
Fund balances -beglnnlng 113,573.45 113,573.45 113,573.45
Fund balances -ending $ 113,453.45 $ 113,453.45 $ 157.52S.S6 $ 44.072.13
CI'Y of Ca"" Girardeau
FIeilt Management
Statement of Revenues, Expenditures. and Change. in Fund Balances .. Budget and Actual
For the Year EndtKI June 30. 2011
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget-
PosItive
(Negative!
REVENUES
Intergovernmental
Internal charges
Miscellaneous
Investment revenue
$
1.166.500.00
4.500.00
$
1.166.500.00
4.500.00
$ 765.00
1.186,474.64
20.00
4.604.29
$ 765.00
19,974.64
20.00
104.29
Total revenues 1,171.000.00 1.171,000.00 1.191.863.93 20,863.93
..... .....
'"
EXPENDITURES
Curren!:
Contractual services
General operating expenses
Intemal service expense
Material and supplies
Personnel services
Total current
217,354.00
4,850.00
3.992.00
291.632.00
600,918.00
1.124,746.00
208,804.00
4,850.00
3.992.00
346.729.00
609.918.00
1,174.293.00
220.696.22
4.770.06
3.992.00
345,983.16
605.732.50
1.161.173.94
(11,892.22)
79.94
745.84
4.185.50
(6,880.94)
Debt service:
Interest
Total debt service
226.56
226.56
(226.56)
(226.56)
Capital outlay;
Equipment
Other capltal expenditures
39.000.00 36.753.00
3.200.00
7,753.00
3.179.00
29.000.00
21.00
Tolal capital oullay
Total expenditures
Exoess(defiaency) of revenues
over (under) expenditures
39.000.00
1,163.746.00
7.254.00
39,953.00
1.214,246.00
143.246.00)
10.932.00
t.192.332.50
(466.57)
29.021.00
21.913.50
42.777.43
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset dIsposition
Transfers out
Total other finanCing sources and uses and &pe<:ial items
Net change In fund balances
Fund balances -beginning
Fund balances -ending
(19.288.00)
(19.268.00)
(12,014.00)
45.115.07
$ 33.101.07 = $
(19.266.00)
(19.266.001
(62.514.00)
45,115.07
(17.398.93)
18.047.99
(14,814.41 1
1.233.58
765.01
45.115.07
$ 45.680.08
16.047.99
4.453.59
20.501.58
63.279.01
$ 83.279.01
See Independer1t Auditors' Report.
City 01 Cape Girardeau
Fringe Benellls
Statement of Revenues, Expenditures, and Changes In FUnd Balances -Budget and Actual
For tho Year Ended June 30, 2011
Variance with
Budgeted Amounts Final Budget.
Positive
Original Final Actual Amounts (Negative)
REVENUES
Internal charges $ 3,351,000.00 $ 3,351,000.00 $ 3,010,839.28 $ (340,160.72)
Miscellaneous 1,187.90 1,187.90
Investment revenue 19,500.00 19,500.00 50,866.87 31,366.87
Total revenues 3,370,500.00 3,370,500.00 3,062,894,05 (307,605.95)
EXPENDITURES
CUrrent:
Contractual services 3,370,500.00 3,310,500.00 2,688,568.23 701,931.77
Total current 3,370,500.00 3,370,500,00 2,668,568.23 701,931.77--'" Total expenditures 3,370,500,00 3,370,500.00 2,668,568,23 701,931.77
Excess (defldency) of revenues
over (under) expenditures --_.__. _ ~94,325,82 394,325,82
Net change in lund balances 394,325,82 394,325.82
Fund balances -beginning 1,375,827.37 1,375,827,37 1,375,827.37
Fund balances -ending $ 1,375,827,37 $ 1,375,827.37 $ 1,770,153,19 $ 394,325.82
See Independent Audito"" Report.
City of Cape Glrarde.u
Rlsk Management
Statermmt of Revenues, expenditures, and Changes in Fund Balances ~ Budget and Actual
For the Year Ended June 30, 2011
Variance with
Budgeted Amounts Flnol Budget.
PO$ltlve
Orlglnal Final Mtusl Amounts !N·llalive)
REVENUeS
Intemal charges
Investment revenue
Total revenues
$ 522,894,00
35.550.00
558.444.00
$ 522,894.00
35,550.00
558.444.00
$ 532.830,03
42.281.78
575.111.81
$ 9.936.03
6.731.78
16.667.81
-00
EXPENDITURES
Current:
Contractual services
General operating expenses
Material and supplies
To1a1 CUll1!f1t
Total expenditures
Excess (deflciency) of revenues
ovet (under) expenditures
523,944.00
32,000.00
2,500.00
558,444.00
558,444,00
523.944.00
32,000.00
2,500.00
558,444.00
558.444.00
155.751,04
29,122,84
184.873.88
184,873.88
390,237.93
368.192.96
2,877.16
2,500.00
373.570,12
373,570.12
390,237.93
Net change in fund balances 390,237,93 390,237.93
Fund balances .~ beginning 989,112.05 989.112.05 989,112.05
Fund balances ending $ 989,112.05 $ 989,112.05 $ 1,379,349.98 $ 390,237.93
City of Cape Girardeau
Equipment Replacement
Statement of Revenues. Expenditures. and Changes In Fund Balances .. Budget and Actual
For the Vear Ended June 30, 2011
Variance with
Budgeted Amounts Final Budget.
Positive
Original Final Actual Amounts (Negalive)
REVENUES
Inlemal charges $ 277,003.00 $ 277,003,00 $ 275,797.45 $ (1,205,55)
Investment revenue 30,000,00 30,000,00 29,133,51 (866,49)
Total revenues 307,003.00 307,003,00 304,930,96 (2,072,04)
EXPENDITURES
Debt servtce:
Interest 4,250,00 4,250,00
Principal 40,000,00 40,000,00
Total debt service 44,250,00 44,250,00--'C> Capital outlay:
Equipment 185,516,00 214,817,72 209,351,97 5,465.75
T otai caPilal outlay 185,516,00 214,817,72 209,351,97 5,465.75
Total exp.nd~u",. 185,516,00 259,067,72 253,601,97 5,465,75
Excess (deficiency) of revenues
over (under) expendilares 121,487,00 47,935,28 .51,328,99 3,393,71
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 27,000,00 27,737,17 737,17
Asset disposition 22,400,00 22,400,00 (22,400,00)
Trans!ers out (10,698,28) (10,698,26)
Total other financing sour<:es and uses and special items 22,400,00 38,701,72 17,038,89 (21,662,83)
Net change in fund balances 143,667,00 86,637,00 66,367,88 (18,269,12)
Fund balances -beginning 963,983,88 963,983,68 963,983,68
Fund balances -ending $ 1,107,870,88 $ 1,050,620.68 $ 1,032,351,56 _$__ (18,269,12)
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECTION
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
1018 Sycamore
:airo, illinois 62914
re1ephone(618) 734-3300
i'acsimi1e (618) 734-3303
16 South Silver Springs Road
Cape Girardeau, Missouri 63703
Telephone (573) 334-7971
Facsimile (573) 334-8875
105 South Hope
Jackson, Missouri 63755
Te1ephone(573) 243-3991
Facsimile (573) 243-3186
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH REQUIREMENTS
THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON 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 City of Cape Girardeau, Missouri's compliance, with the types of
compliance requirements described in the OMB Circular A-133 Compliance Supplement that
could have a direct and material effect on each of the City of Cape Girardeau, Missouri's major
federal programs for the year ended June 30, 2011. The 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 the City of Cape Girardeau, Missouri's management. Our responsibility is to
express an opinion on the 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-!33 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 the 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 the 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
compliance requirements referred to above that could have a direct and material effect on each of
its major federal programs for the year ended June 30, 20 II.
120
Internal Control Over Compliance
Management of the 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 the 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 to
determine the auditing procedures for the purpose of expressing our opinion on compliance and
to test and report on internal control over compliance in accordance "'lith OMB Circular A-133,
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.
A deficiency in internal control over compliance exists when the design or operation of a control
over compliance does not allow management or employees, in the normal course of performing
their assigned functions, to prevent, or detect and correct, noncompliance with a type of
compliance requirement of a federal program on a timely basis. A material weakness in internal
control over compliance is a deficiency, or combination of deficiencies, in internal control over
compliance, such that there is a reasonable possibility that material noncompliance with a type of
compliance requirement of a federal program will not be prevented, or detected and corrected, on
a timely basis.
Our consideration of internal control over compliance was for the limited purpose described in
the first paragraph of this section and was not designed to identify all deficiencies in internal
control over compliance that might be deficiencies, significant deficiencies, or material
weaknesses. We did not identify any deficiencies in internal control over compliance that we
consider to be material weaknesses, as defined above.
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 & STRODER, L.L.C.
~,I~, !t1e ""~' l.L.C.
Cape Girardeau, Missouri
December 23, 2011
121
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
16 South Silver Springs Road 1018 Sycamore 105 South HopeCape Girardeau, Missouri 63703 :::airo, Illinois 62914 Jackson, Missouri 63755
felepbone(618) 734-3300 Telephone (573) 334-7971 Telepbone{S73) 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 OrnER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT A UDITING 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 the City of Cape
Girardeau, Missouri as of and for the year ended June 30, 2011, which collectively comprise City
of Cape Girardeau, Missouri's basic financial statements and have issued our report thereon
dated December 23, 201 L 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 deficiency in internal control 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 and correct misstatements on a timely basis. A material weakness is a
deficiency, or combination of deficiencies, in internal control such that there is a reasonable
possibility that a material misstatement of the City's fmancial statements will not be prevented,
or detected and corrected on a timely basis.
Our consideration of internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and was not designed to identifY all deficiencies in
internal control over financial reporting that might be deficiencies, 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.
122
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the 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, and 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 & STRODER, L.L.c.
~~,/&t '1~,U .. c..
Cape Girardeau, Missouri
December 23, 2011
123
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2011
Federal GT8qJor(Pfiss~Through Grantor Program Title
US. DEPARTMENT OF DEFENSE:
Loan of DOD Property (non-cash)
\.:.S. DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT:
Passed Through Missouri Department of
Economi(: Development ~
Community Development Block Grants!
State's Program and Non~F..ntitiement
Grants in Hawaii
Passed Through Missouri Department of
Social Services ~
Emergency Shelter Crrants Program
Passed 1hrough Missouri Housing Development
Commission
Home lnvCS1ment Partnerships Program
TOTAL U.S. DEPARn1ENT OF HOUSING A.ND
VRllAN DEVELOPMENT
U.S. DEPARTMENT OF THE INTERIOR:
Passed Through Missouri Department of Natural
Reso~s-
Historic Preservation Fund Grants -In Aid
SaVe America's Treasurers
TOTAL u.s. DEPARTMENT OF THE INTERIOR
Federal
CFDA
Number
12.
14.221!
14.231
14.239
15.904
15.929
Program
Number Disbursements
NIA
2004-ND-05 $
2006-PF-38
2008-DN-30 1
201D-DT-01
200&-DN-<l2
ER0164090l
M-09-<lG-29-0IOO
29-09-21831-004
NiA
s 100,000
173,164
400,000
311,368
8.790
122,107 $ 1,015,429
29,360
_$_.. 71,869
$ 1,116,658
$ 8,000
50,171
$ 58,171
'The Accompanying Notes to ScneduJe ofExpenditures of Fed em I Awards
Are an Integral Part of This Report
124
City of Cape GirArdeau, Missouri
SCHEDULE OF EXPENDmJRES OF FEDERAL AWARDS
For the Year Ended June 30, :WII
Federal Granror!pass~Through Granto! Program Title
:u S DEf&RTMENT OF JUSTI~~'
Passed Through Missouri Department of
Public Safety
Violence Against Women Formula Grant
ARRA-Violen('.e Against Women Formulat Grant
BulletproofVesl Partnership Program
PWlsed TInough the City of Poplar Bluff, Missouri-
Passed through the SOUthellSt Missouri Drug
Task force-
Public Safety Partnership and Community
Policing Grants:
JAG Program Ouster:
Edward Byrne Memoriailustice Assistanee Grant
ARM _EdwiUd Byrne Memorial Justice
Assis~Granl Program/Grants "\0 Units of
Ux:ru Governments
TOTAL 1;.S. DEPARTMENT OF JUSTICE
U.S. DEPARTh!ENT OF1RANSPORTATION
Passed Through Missouri Department of
Transportation·
ARRA" Airport Improvement Program
Highway Planning and Construction
Highway Safety Cluster:
State and Community High",1IY Safety
Alcohol Impaired DnV!ng COUfltenneasures
Incentive Grants 1
TOTAl. U.S. DEPARTMR"'ITOF TRA. ...(SPORTATJON
Federal
CFDA
Number
16.:5BB
16.607
16.710
16,738
16.804
20.106
20.205
20JillO
20601
Program
.............~umber Disbursements
201ONAWA·OO11..QS
20()9-VAWA-0002
R2010-VAWA-002-OS
, 14,347
18.193
4,436 $ 36,976
NIA 5,119
~/A 6,149
201{)..DJ-B)(--o5.57 37,456
2009-SB-B9-2229 27,513
L...!J3.213
Og-077A·l
DP-~ 503(002)
STP·1500(0[4)
J010767A DP~[503(003)
SRTS·NI-H300(502)
SRTS·!NF·H110(002)
, 494,126
173,805
60,374
2,522
4,848
$ 98,834
$ 735,675
11~SA-09-2
!1-CP-09-t
II-PT..o2.sS
IO~SA.oo~l
I(;"SA~09.o3
1{)"154~fU...lI1
to~PT-02·112
S 3B,730
55,099
2.282
32,765
26,734
54,593
51714 $ 215,917
11·KS-D3·76
lO-K8'{)3·56
Il-K8-03-77
lO~K8..o3·57
LKK073
LKK081
SAFOO6
SAFOO7
, 7,964
1,844
587
361
1,130
742
997
134 S 13,759
, 1,064,185
The Accompanying Notes '0 Schedule ofExpendllures of Federal Awards
Are an Inlegral Plirt ofThis Report
125
City ofCape Girordeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30.2011
Federal
CPDA Program
Federa! GrantorIPass-Through Grantor Program Ti~.I.~ Number Number Disbursements
lltH'IRQt:!MENTAL PRQIECTION A~:
Passed Through Missouri Department of Natural
Resources ~
ARRA -Capitalization Grants for Drinking
Water State RevotvingFunds (1) 60.468 DW291010·03G $ 999,562
ERIO-ARRA·M04010136
ARRA . Brownfields Assessment and
Cleanup Cooperative Agreement 66818 NIA
TOTAL ENVIRONMENTAL PROTECTION AGENCY
illJIEPARlMlONTOf ENERGY:
ARRA . Energy Efficiency and Conservation
Block Granl Program (EECBG) (I) 81.128 NIA
US DEPARTMIlliJ OF HEALTH AND HUMAN SERVICES
Passed Through the Community Caring Counsel·
Substance Abuse and Mental Health Services-
Projects of Regiona! and National Significance 93.243 SDA42070104
l1...S....QEPARTMENT OF HQMELANR
SECURITY:
Passed Through Missouri Stale Emergency
Management Agency-
Disaster Grants ~ Public Assistance{Presidentially
Deelaced Disasters) 97036 #FEMA·1980-DR·MO
Law Enforcemcnl Officer Reimbursement Program: 97.090 HSTS0208HSlR050
Assistance to Firefighters Grant 97044 EMW·2007-FF-()OI76 $
EMW-200K-F0-D9 141
EMW·2009·FO-09319
Passed Through Mtssoun State Emergency
Management Agency-
Citizen Corps. 97.053 ZOO9-SS-T9·0062 s
201().SS·TO-{1039
TOTAL U.S. DEPARTMENT OF HOMb'LAND
SECURITY
TOTAL FEDERAL AWARDS
(1) Identified major program.
108,405
59,S48
75,451
19,264
19,366
2,510
$ 1,107,967
25,990
$ 1,133,957
$ 187,219
1,612
$ 12,658
35,538
154,563
21,876
$ 3999 6SQ
The Accompa.nying Notes to Schedule of Expenditures of Federal Awards
Are an Integral Part of This Report
126
... -~ .. -------------
City of Cape Girardeau, Missouri
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL A WARDS
Year Ended June 30, 2011
1. 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-I33. 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 offederal awards administered by the City.
B. Basis of Presentation:
The Schedule is presented in accordance ¥,"ith OMB Circular A-l33, which defines
federal financial assistance H ••• 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.
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City of Cape Girardeau, Missouri
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the Year Ended June 30, 2011
I. SUMMARY 01' AUDITORS' RESULTS:
Financial Statements
Type of Auditors' report issued: Unqualified
Internal control over financial reporting:
• Material weaknesses identified? __yes X no
• Significant deficiencies identified that are not
considered to be material weaknesses? __yes X none reported
Noncompliance material to financial statements
noted? __ yes X no
Federal Awards
Internal control over major programs:
• Material weaknesses identified? __ yes X no
• Significant deficiencies identified that are not
considered to be material weaknesses? __yes X 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 5 10ea) of Circular
A,I33? __yes X no
Identification of major programs.
CFDANumber _--,1'Iame of Federal Program
66.468 Capitalization Grants for Drinking
Water State Revolving Funds
Energy Efficiency and Conservation
Block Grant Program (EECBG)
81.128
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Dollar threshold used to distinguish
between type A and type B programs: $300,000
___ noAuditee qualified as low· risk auditee: -Lyes
2. FINANCIAL STATEMENT FINDINGS:
No findings or questioned costs were noted that are required to be reported.
3. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS:
No findings or questioned costs were noted that are required to be reported.
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City of Cape Girardeau, Missouri
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
For the Year Ended June 30, 2011
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
09-1 Noncompliance with Section 67.080. RSMo, no expenditure of public monies
should be made unless it is authorized in the budget.
Status: Implemented.
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