HomeMy WebLinkAbout2011-2012.AuditReportCITY OF CAPE GIRARDEAU. MISSOURI
Cape Girardeau, Missouri
For the Year Ended June 30, 2012
ANNUAL FINANCIAL REPORT
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
CITY OF CAPE GIRARDEAU. MISSOURI
FINANCIAL SECTI()t'-l
INDEPENDENT AUDITORS' REPORT 1-2
REQUIRED SUPPLEMENTAR Y INFORMATION
MANAGEMENT'S DISCUSSION AND ANALYSIS 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
RECONCIUATION OF THE BALANCE SHEET OF GOVERNMENTAL
FUNDS TO THE STATEMENT OF NET ASSETS 25
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES 26
RECONCILIATION OF THE STATEMENT OF REVENUES. EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES 27
PROPRIETORY FUNDS FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS 28-29
STATEMENT OF REVENUES. EXPENSES. AND CHANGES IN
FUND NET ASSETS 30
STATEMENT OF CASH FLOWS 31-32
FIDUCIARY FUNDS FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS
NOTES TO BASIC F[NANCIAL STATEMENTS 34-81
REQUIRED SUPPLFMENTAL I'lFORylATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -GENERAL 82
STATEMENT OF REVENLES, EXPENDITURES, A~D
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -AIRPORT 83
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -PARK & RECREATION 84
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL TRANSPORTATION SALES TAX TRUST
FUND III 85
NOTES TO BUDGETARY COMPARISON SCHEDULES 86-89
SCHEDULE OF FUNDING PROGRESS 90
SUPPLEMENTAL INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES TN FUND BALANCES -BUDGET AND
ACTUAL -VISION 2000 91
STA TEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL CONVENTION AND TOLTRISM 92
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -DOWNTOWN BUSINESS DISTRICT 93
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL HEALTH 94
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGI:;:S IN FUND BALANCES -BUDGET AND
ACTUAL MOTOR FUEL TAX 95
STATEMENT OF REVENUES. FXPENDITI lRFS. AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL CAPITAL IMPROVEMENT SAI,ES TAX
FLOOD CONTROL 96
STATEMENT OF REVENUES. EXPENDITURES. AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL--CAPITAL IMPROVEMENT SALES TAX
WATER SYSTEM IMPROVEMENTS 97
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL TRANSPORTATION SALES TAX
TRUST FUND 98
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -CAPITAL IMPROVEMENT SALES TAX
SEWER SYSTEM IMPROVEMENTS 99
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -TRANSPORTATION SALES TAX TRUST FUND II 100
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -FIRE SALES TAX 101
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -PUBLIC SAFETY TRUST 102
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -DEBT SERVICE 103
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -GENERAL CAPITAL IMPROVEMENTS 104
STATEMENT OF REVENUES. EXPENDITURES. AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL --STREET fMPROVEMENTS lOS
STA'fEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL PARK IMPROVEMENTS 106
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCES -BllDGFT AND
ACTUAL COMMUNITY DLVELOPMENT BLOCK
GRANT PROJECTS 107
STATEMENT OF REVENUES, EXPENDITtRES, Al\D
CHANGE IN FUND BALANCES -BUDGET AND
ACTUAL TRANSPORTATION SAU:;:S TAX TRUST
FUND IV 108
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL PARK STORM WATER SALES TAX 109
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL PARK STORM WATER SALES TAX -CAPITAL 110
STATEMENT' OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL HOUSING DEVELOPMENT GRANTS 111
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL CASINO REVENUE 112
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL FAU GRANT PROJECTS 113
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL SEWER 114
ST A TEMEN'f OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -WAfER 115
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -SOLID WASTE 116
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -GOLF COURSE 117
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -SOFTBALL COMPLEX 118
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -INFORMATION TECHNOLOGY 119
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -FLEET MANAGEMENT 120
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -FRINGE BENEFITS 121
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -RISK MANAGEMENT 122
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -EQUIPMENT REPLACEMENT 123
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL -RIVERFRONT REGION ECONOMIC
DEVELOPMENT 124
A1'lNUAL 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 CIRCULAR A-133 125-126
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORNIED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS 127-128
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 129-131
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 132
SCHEDULE OF FINDINGS AND QUESTIONED COSTS 133-134
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS 135
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
16 South Silver Springs Road lOS South Hope
4018 Sycamore Cape Girardeau, Missouri 63703 Jackson, Missouri 63755
Cairo, Illinois 62914 Telephone (573) 334-7971 Telephone(573) 243-3991
Telephone(6l8) 734-3300 Facsimile (573) 243-3186Facsimile (573) 334-8875 Facsimile (618) 734-3303
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, 2012, 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 of Cape Girardeau, Missouri'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, 2012, and the respective changes in financial position, and where
applicable cash flows, thereof for the year then ended in conformity with accounting principles
generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated
December 18, 2012, 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 internal control over financial reporting or on compliance. That
report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be considered in assessing the results of our audit.
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 82 through 90 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 with 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-133, 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.
~~1*1t. ~ tt ~~L.l.C,
Cape Girardeau, Missouri
December 18, 2012
2
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF CAPE GIRARDEAU, MISSOURI
Management's Discussion and Analysis
The discussion and analysis of the City of Cape
Girardeau's financial performance provides an
overall review of the City's financial activities
for the fiscal year ended June 30, 2012. The
intent of this discussion and analysis is to look at
the City's financial performance as a whole.
Readers should also review the basic financial
statements and related notes to those statements
to enhance their understanding ofthe City's
financial performance.
Financial Highlights
o The assets of the City of Cape Girardeau
exceeded its liabilities at the close of the most
recent fiscal year by $250,990,911 (net
assets). Of this amount, $33,027,226
(unrestricted net assets) may be used to meet
the City's ongoing obligations to citizens and
creditors.
o As of the close of the current fiscal year, the
City of Cape Girardeau's governmental funds
reported combined ending fund balances of
$27,343,440. Approximately 11.4 percent of
this total amount, $3,114,973 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 $3,114,973 or 12.6 percent of total
general fund expenditures and transfers.
o At the end of the current fiscal year, general
fund balance reserved for emergencies was
$3,930,688 or 15.9 percent of total general
fund expenditures and transfers.
o The City of Cape Girardeau's fixed assets
increased $2,258,749 during the year. Net
fixed asset additions of$13,871,205 were
made during the year. Depreciation for the
current fiscal year reduced fixed assets by
$11,612,456.
o The City of Cape Girardeau's total long-term
debt decreased by $6,982,902 (11.1 percent)
during the current fiscal year. During the year
the City received disbursements totaling
$199,000 from a $31,000,000 direct loan
authorized during the current year through the
state revolving loan program to fund costs
3
related to the future construction of a new
wastewater treatment plant. Also during the
year the City used $13,999,459 of proceeds
from the issuance of water revenue bonds and
a portion of debt service reserves to call
$14,050,000 of the 1998 water revenue bonds
that had originally been issued through the
state revolving loan program to expand the
City's water plant. Regularly scheduled
principal payments and amortization ofbond
premiums I discounts resulted in outstanding
long-term debt being reduced by $7,131,361.
Overview of the Financial Statements
This discussion and analysis is intended to serve
as an introduction to the City of Cape
Girardeau's basic financial statements.
The City of Cape Girardeau's basic financial
statements are comprised of three components:
1) government-wide financial statements, 2) fund
financial statements, and 3) notes to the financial
statements. This report also contains other
supplementary information in addition to the
basic financial statements themselves.
Government-wide financial statements.
The government-wide financial statements are
designed to provide readers with a broad
overview of the City of Cape Girardeau's
finances, in a manner similar to a private-sector
business.
The statement of net assets presents information
on all the City's assets and liabilities, with the
difference between the two reported as net
assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether
the fmancial position of the City is improving or
deteriorating.
The statement of activities presents information
showing how the City's net assets changed
during the most recent fiscal year. All changes
in the net assets are reported as soon as the
underlying event giving rise to the change
occurs, regardless of the timing of the related
cash flows. Thus, revenues and expenses are
reported in the statement for some items that will
only result in cash flows in future fiscal periods
(e.g., uncollected taxes and earned but unused
vacation leave).
CITY OF CAPE GIRARDEAU, MISSOURI
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 fmancial statements can be found on pages
19 to 22 of this report.
Fund financial statements. A fund is a
grouping of related accounts that is used to
maintain control over resources that have been
segregated for specific activities or objectives.
The City of Cape Girardeau, like other state and
local governments, uses fund accounting to
ensure and demonstrate compliance with
finance-related legal requirements. All of the
funds of the City can be divided into three
categories: governmental funds, proprietary
funds, and fiduciary funds.
Governmental Funds. Governmental funds are
used to account for essentially the same
functions reported as governmental activities in
the government-wide financial statements.
However, unlike the government-wide financial
statement, governmental fund financial
statements focus on near-term inflows and
outflows of spendable resources, as well as on
balances of spendable resources available at the
end of the fiscal year. Such information may be
useful in evaluating a government's near-term
financing requirements.
Because the focus of the governmental funds is
narrower than that of the government-wide
financial statements, it is useful to compare the
information presented for governmental funds
with similar information presented for
governmental activities in the government-wide
financial statements. By doing so, readers may
better understand the long-term impact of the
government's near term fmancing 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 35
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, capital improvement sales tax
water system improvements, and transportation
trust IV 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 fmancial
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 information technology systems, fleet
management, self-insured employee benefits imd
workmen's compensation programs, and its
internal equipment leasing program.
Proprietary funds provide the same type of
information as the government-wide fmancial
statements, only in more detail. The proprietary
fund fmancial statements provide separate
information for the sewer, water, and solid waste
utilities and golf course and softball complex
operations. All of these are considered, or have
been designated, to be major funds of the City.
The internal service funds are combined into a
single, aggregated presentation in the proprietary
fund financial statements.
4
CITY OF CAPE GIRARDEAU, MISSOURI
The basic proprietary fund financial statements
can be found on pages 28 to 32 of this report.
Budgetary comparison statements for all the
proprietary funds are present as supplemental
information.
Notes to the Financial Statements. The notes
provide additional information that is essential to
a full understanding of the data provided in the
government-wide and fund financial statements.
The notes to the financial statements can be
found beginning on page 34 of this report.
Government-wide Financial Analysis
As noted earlier, net assets may serve over time
as a useful indicator of a government's financial
position. The City of Cape Girardeau, assets
exceeded liabilities by $250,990,911, an increase
of$9,819,768 (4.1%). The City's $209,477,285
net investment in capital assets (land, buildings,
machinery, and equipment less related
outstanding debt used to acquire those assets)
makes up 83.5% of the City's net assets.
This net investment increased $7,815,899 (3.9%)
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 $1,294,419 (13.2%) less
than the previous year. The remaining balance of
net assets ($33,027,226) is unrestricted and may
be used to meet the City'S ongoing obligations to
citizens and creditors. This reflects a $3,298,288
(11.1 %) 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
Activit~ Activities Total
2012 2011 2012 2011 2012 2011
Current and other assets 36,136,272 34,259,413 14,648,278 16,421,436 50,784,550 50,680,849
Capital assets 165,186,346 164,535,596 100,139,895 98,531,896 265,326,241 263,067,492
Total assets 201,322,618 198,795,009 114,788,173 114,953,332 316,110,791 313,748,341
Long-term liabilities outstanding 19,929,195 36,771,369 31,598,980 22,014,961 51,528,175 58,786,330
Other liabilities 6,811,221 7,783,729 6,780,483 6,007,139 13,591,704 13,790,868
Total liabilities 26,740,416 44,555,098 38,379,463 28,022,100 65,119,879 72,577,198
Net assets:
Invested in capital assets,
Net of related debt 145,265,494 127,938,045 64,211,791 73,723,341 209,477,285 201,661,386
Restricted 4,851,959 5,147,781 3,634,441 4,633,038 8,486,400 9,780,819
Unrestricted 24,464,748 21,154,085 8,562,478 8,574,853 33,027,226 29,728,938
Total net assets 174,582,201 154,239,911 76,408,710 86,931,232 250,990,911 241,171,143
5
CITY OF CAPE GIRARDEAU, MISSOURI
Governmental activities. Governmental activities increased the City of Cape Girardeau's net assets by $20,408,995
(compared to $4,552,712 in the previous fiscal year). This exceeded total growth in net assets of the City by
$10,545,481 resulting mainly from net transfers of$11,150, 182 from the City's business activities. Increases in net
investments in capital assets during the fiscal year accounted for $17,327,449 or 84.9% of this year's increase of its
governmental activities net assets.
City of Cape Girardeau's Change in Net Assets
Governmental Business-type
activities activities Total
2012 2011 2012 2011 2012 2011
Revenues:
Program revenue:
Charges for service 5,057,123 4,707,825 18,829,983 14,013,089 23,887,106 18,720,914
Operating grants and
contributions 1,547,279 1,597,890 13,655 68,675 1,560,934 1,666,565
Capital grants and
contributions 1,332,549 2,252,992 498,384 417,165 1,830,933 2,670,157
General revenues:
Property taxes 2,008,140 1,954,759 2,008,140 1,954,759
Sales taxes 25,442,574 24,262,759 25,442,574 24,262,759
Other taxes 9,536,220 8,893,241 9,536,220 8,893,241
Other 743,454 1,019,227 325,377 377,390 1,068,831 1,396,617
Special item 1,628,343 1,628,343
Total revenues 45,667,339 46,317,036 19,667,399 14,876,319 65,334,738 61,193,355
Expenses:
Administrative 5,727,258 5,505,786 5,727,258 5,505,786
Capital Improvements 620,298 432,699 620,298 432,699
Development Services 3,104,617 3,032,909 3,104,617 3,032,909
Interest and other costs 1,440,995 1,622,569 1,440,995 1,622,569
Parks and Recreation 5,178,740 4,846,823 5,178,740 4,846,823
Public Safety 13,180,887 12,311,981 13,180,887 12,311,981
Public Works 7,155,731 6,956,715 7,155,731 6,956,715
Sewer 6,987,740 5,910,891 6,987,740 5,910,891
Water 6,937,308 6,327,558 6,937,308 6,327,558
Solid Waste 3,558,892 3,381,137 3,558,892 3,381,137
Golf Course 699,594 697,753 699,594 697,753
Softball Complex 879,164 679,194 879,164 679,194
Total expenses 36,408,526 34,709,482 19,062,698 16,996,533 55,471,224 51,706,015
Increase in net assets
before tran sfers 9,258,813 11,607,554 604,701 (2,120,214) 9,863,514 9,487,340
Transfers 11,150,182 (7,054,842) (11,150,182) 7,054,842
Increase in net assets 20,408,995 4,552,712 (10,545,481) 4,934,628 9,863,514 9,487,340
Net assets-beginning of year 154,239,911 149,387,474 86,931,232 82,004,749 241,171,143 231,392,223
Inclusion of component units
not previously reported 314,728 314,728
Prior period adjustments (66,705) (15,003) 22,959 (8,145) (43,746) (23,148)
Net assets-end of year 174,582,201 154,239,911 76,408,710 86,931,232 250,990,911 241,171,143
6
CITY OF CAPE GIRARDEAU, MISSOURI
Activity in the following revenue and expense items should be noted for the current fiscal year:
Revenues from governmental activities
• Charges for service increased $349,298 (7.4%) over the previous year. The previous year's revenue included a
$150,000 payment from the Isle of Capri that was advanced to the City to cover costs of the riverboat gaming
licensing process. If this item was excluded from the previous year's revenue the current year's revenue would
have increased $499,298 (11.1%) over the previous year. During the current year revenue from fees for park
and recreation services increased $168,412 (11.8%). Fees from the Osage Community Centre, Cape Splash, and
the City's recreation program increased $15,590 (8.5%), $35,140 (6.1%), and $29,129 (13.2%), respectively,
reflecting increased usage. Fees from the Shawnee Park Centre and Central Pool increased $24,738 (419.8%)
and $32,238 (36.7%), respectively as the result of Shawnee Park Centre beginning operations in only March of
the previous year and Central Pool being closed during a portion of the previous year for construction at the
pooL Revenues from fines and costs charged by the municipal court increased $331,910 (45.1%) over the
previous year. The municipal court revenue increase resulted mainly from a 27.9% increase in traffic violations
during the current year over the previous year
• Operating grants and contributions were $50,611 (3.2%) less than the previous year. During the current year the
City received $517,584 in payments from various neighborhood improvement grants, $417,474 from various
police operating grants, $174,493 in grants used establish bike routes throughout the City, $35,041 from a
SAFER grant to cover the portion of the personnel costs of three additional firefighters, and $3,248 for
reimbursement of flooding costs. During the previous year payments from these sources were $688,542,
$403,262, $16,183, $61,185 and $108,268, respectively. During the current the City received grant funds
totaling $132,587 to provide emergency shelter. In the previous year these grants were passed through directly
to the recipient agencies. During the previous year the City received $50,171 and $8,000 in grant revenues to
promote the downtown area and prepare historic district nomination, respectively. No grant funds were received
for these purposes during the current year.
• Capital grants and contributions decreased $920,443 (40.9%) from the previous year. In the current year
$80,488 of donated assets and infrastructure were recorded. This was $100,134 (55.4%) less than the previous
year. Benefiting property owners were charged $33,419 for a portion of this year's infrastructure costs. This
was $381 (1.2%) more than the previous year. This year grants totaling $87,202, $625,276 and $139,616 were
received for recreational trail projects, the Lewis and Clark Parkway project, and public safety equipment,
respectively. In the previous year grants totaling $174,347, $60,374 and $137,290 were received for those
projects, respectively. In the previous year grants totaling $98,834, $422,706, and $894,126 were received
respectively for airport capital projects, water system improvements and the Fountain Street project,
respectively. No grant funds were received on these projects in the current year. The remaining grant and
contribution revenue received was $366,548 which was $114,893 (45.7%) more than the previous year.
• Property tax revenue was $53,381 (2.7%) more than the previous year. The current year's revenue includes
$12,950 of protested taxes from the previous year. Final adjusted assessed value of real estate increased
$6,026,040 (1.4%) over the previous year. New construction of$4, 192,840 and annexed property of $57,540
were included in this increase. Final adjusted assessed value of personal property increased $1,207,385 (1.3%)
from the previous year. The City tax levy rate did not increase during the current year.
• Sales tax revenue was 55.7% of the total revenue during the current year vs. 52.4% in the previous
year. This year's revenue was $1,179,817 (4.9%) more than the previous year. From fiscal year ending June
30,2008 through fiscal year ending June 30,2011 sale tax revenue, adjusted for new taxes, had annual growth
rates of .6%, (1.6%), 1.6% and 2.0%, respectively.
7
CITY OF CAPE GIRARDEAU, MISSOURI
Revenues from governmental activities (continued)
• Other taxes increased $642,979 (7.2%) from the previous year. Franchise taxes, cigarette taxes, convention and
tourism taxes, business licenses, and liquor licenses grew $145,520 (3.3%), $2,629 (1.6%), $120,240 (6.8%),
$126,410 (10.7%), and $38(.1%), respectively. Motor fuel taxes decreased $1,858 (.1%). During the current
year the City received $250,000 from the Isle of Capri for payment due to the Riverfront Development Fund
pursuant to terms of a development agreement with the city. No payment was received in the previous year.
• Ameren paid 68.5% of the total franchise tax collected during the year based on its electricity and natural gas
revenues. During the current year Ameren paid $66,058 (2.1 %) less than the previous year. Payments received
on natural gas sales declined $135,273 (16.9%) from the previous year even though natural gas rates averaged
approximately 3.5% more during the current year. Payments received on electricity sales only increased
$69,215 (2.9%) even though the average residential rates averaged 6.8% more than the previous year. An
extremely mild winter had a negative impact on both the natural gas and electricity receipts.
• During the current year the City received payments in lieu of franchise taxes from its water and sewer funds
totaling $723,484. This was $243,868 (50.9%) greater than the previous year. In the current year the water fund
increased its residential and commercial rates by 5%. The sewer fund increased its fixed rates by 293. t % and its
volume based rate by 122.3% to produce the revenues that will be needed to service the debt that will be issued
in conjunction with the construction ofa new sewer plant.
• Franchise tax paid during the current year by the City's telecommunication and cable TV service providers
decreased $30,847 (8.9%) and $1,443 (.4%), respectively, from the previous year. During the previous year the
City received $49,600 in back taxes from T -Mobile.
• The increase in the convention and tourism taxes was comprised of$67,566 (5.6%) and $52,674 (9.4%)
increases in restaurant and hotel/motel taxes, respectively, from the previous year.
• Other revenue declined $275,773 (27.1 %) from the previous year to $743,454. Investment earnings, which
accounted for 76.7% of other revenue, decreased $53,038 (8.5%). During the previous year a $250,791 gain was
recognized on property transferred to the Isle of Capri for a new gaming development.
• The previous year's financial statement reflected a special item totaling $1,628,343. During that year the City
received $2,000,000 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 City 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 $5,727,258 this year which was $221,471 (4.0%) more than the previous year.
Excluding personnel costs, the most significant cost item included in this category is the City's support of the
"River Campus Project", This is a joint City/University project. The City agreed to make payments from its
convention and tourism taxes to pay principal and interest on bonds issued by the University to fund $8.9
million of construction costs related to a campus, performance center, and museum on property that oversees
the Mississippi River. The campus began operating in the fall of2007. The total cost of the project exceeded
$60 million. The city's payments to Southeast Missouri State University increased $92,087 (7.6%) to
$1,308,184 this year.
8
CITY OF CAPE GIRARDEAU, MISSOURI
Expenses from governmental activities (continued)
Current revenues collected from the hotel, motel, and restaurant taxes not used for the operation of the
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 $129,625 on such projects, an increase of$8,721 (7.3%)
over the previous year. At the end of the current year there was still $208,433 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
salaries and benefits increased $131,302 (7.4%) over the previous year (2) legal fees related to the eviction of a
tenant from its manufacturing facility at the airport resulted in costs totaling $72,354 (3) cost of a city-wide
survey was $20,000 (4) amount spent on Preserve America Grant related expenditures decreased $51,968 to
zero.
• Capital improvements expenses totaled $620,298 this year which was $187,599 (43.4%) 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 $3,104,617 this year which was $71,708 (2.4%) more than the previous
year. During the current fiscal year the City spent $279,435 for a CDBG funded renovation ofa commercial
building, $385,234 on various grant funded neighborhood improvement and housing projects, and $187,536 in
grant funded expenditures to establish bike routes throughout the City. During the previous year the City spent
$9,100, $871,695 and $27,620 on these projects, respectively. During the current year the City made $134,821
in expenditures related to an emergency shelter grant. In the previous year this grant was passed through
directly to the recipient agencies.
• Interest and other costs totaled $1,440,995 this year which was $181,574 (11.2%) less than the previous year.
During the previous year, the City paid off the 2001 certificates of participation that were originally issued to
construct a manufacturing facility at the Cape Girardeau Regional Airport.
• Parks and recreation expenses totaled $5,178,740 this year which was $331,917 (6.8%) more than the previous
year. This year's expenditures include $190,440 in operating expenses from Shawnee Park Center. This was the
first full year of operation for the Shawnee Park Center which opened in the spring of 20 11. Total operating
expense for the center was $81,052 in the previous year. The current year did not include any expenditure from
Capaha pool which was demolished in the previous year. In the previous year there was $107,762 in operating
expenses associated with the pool. Operating expenses at the Central pool were $88,382 (28.4%) more than the
previous year during the current year. The pool had been closed for remodeling during a portion of the previous
year. City Hall maintenance costs which are included in the facilities maintenance division of parks and
recreation increased $34,440 (615.4%) during the current year as a result of significant boiler and electrical
repairs and office redesign caused by staff restructuring.
This year's financial statements included depreciation costs $936,776 which was $99,180 (11.8%) more than
the previous year. This mainly resulted from equipment purchases and facility construction funded by the parks
/ storm water sales tax. Capital outlays in amounts that did not meet the City's $5,000 capitalization threshold
totaling $84,151 were included in this year's parks and recreation expenditures. This was $29,260 (53.3%) more
than the previous year.
• Public safety expenses totaled $13,180,887 this year which was $868,906 (7.1 %) more than the previous year.
Included in this year's expenses is depreciation expense totaling $672,191 which was $7,449 (1.1 %) less than
the previous year, personnel costs totaling $10,563,405 which was $638,773 (6.4%) more than the previous
year, and operating expenses totaling $1,945,291 which was $237,582 (13.9%) more than the previous year.
9
CITY OF CAPE GIRARDEAU, MISSOURI
Expenses from governmental activities (continued)
Salary expense totaling $7,432,764 and employee and retiree benefit costs totaling $3,130,641 account for the
personnel costs included in this year expense. These costs were $196,680 (2.7%) and $442,093 (16.4%) more
than the previous year. Increases in allocated worker's compensation costs, contributions to the employees'
defmed benefit pension, and allocated employee and retiree health and dental cost make up over 95% of this
year's increase in benefit costs. These costs increased $185,027 (225.4%), $76,354 (11.7%), and $160,256
(11.6%) respectively over the previous year. During the current year net costs in the City's self-insured
worker's compensation program increased 222.5%. In the previous year these costs decreased 73.5%.
Contribution rates charged by the City's employee defmed benefit retirement plan increased 12.7% and 8.1 %
respectively for the City's police and fire employees during the current year. During the current year net costs in
the City's self-insured health and dental programs increased 24.4%.
The following were significant operating expense increases from the previous year: (1) Vehicle fuel $56,280
(22.9%) (2) Expenses related to fire operating grants $38,389 (1052.5%) (3) Professional services $29,327
(2,845.8%) (4) Uniform and protective clothing $22,862 (36.6%) (5) Fleet maintenance costs $24,783 (10.0%)
and (6) Building condemnation costs $6,823 (41.1 %). Capital outlays in amounts that did not meet the City's
$5,000 capitalization threshold totaling $47,054 were included in this year's public safety expenditures. This
was $22,112 (88.7%) more than the previous year.
• Public works expenses totaled $7,155,731 this year which was $199,016 (2.9%) more than the previous year.
Included in this year's expenses is depreciation expense totaling $4,810,682 which was $74,674 (5.8%) more
than the previous year, personnel costs totaling $1,074,850 which was $32,539 (3.1%) more than the previous
year, and operating expenses totaling $1,270,199 which was $91,803 (7.8%) more than the previous year. The
most significant change in this year's operating expense was street light electricity costs which were $61,130
(18.8%) more than the previous year resulting mainly from a significant rate hike.
Softball Complex
Go~ Course
SewerSOlidWastee~~5!5:~;-
Water
f>ublic VIobrks
Parks & Recreation
Development Serv
f>ublic Safety jiii~~~;~~~~~:~~~~~~~~~~~~~~~~~~Administrative
1,500,000 3,000,000 4,500,000 6,000,000 7,500,000 9,000,000 10,500,000 12,000,000 13,500,000
The illustration above makes it clear that all the governmental activities and business-type activities of the City
with the exception of water and sewer required a subsidy by taxpayers. General revenues in these activities,
which include transfers from special revenue sales taxes, were sufficient to provide adequate subsidies for both
the governmental and business-type activities.
10
CITY OF CAPE GIRARDEAU, MISSOURI
Revenues by Source
Governmental Activities
Revenues for governmental activities
Operating
Charge for grantsService 3.4% Capital grants11.1%other 2.9%
1,1,%
The above chart summarizes the sources of
revenue from government activities. The three
main sources of revenue and their share of total
governmental revenues are sales tax (55.7%),
other taxes (20.9%) and charges for services
(11.1%).
The City's general sales tax represents 36.7
percent ofthe total sales tax revenue and 44.2
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 63.4% and 56.6%
of the other tax and service charge revenue
respectively. This represents 28.7% and 13.6%
of the total general fund revenues respectively.
Business-type activities Net assets of the City
decreased by $10,545,481 as a result of its
business-type activities during the current year.
During the previous year business-type activities
increased the City's net assets by $4,934,628.
Business-type activities before transfers increased
the City's net assets by $604,701 during the current
year and decreased the net assets by $2,120,214
during the prior year.
During the current year there were net transfers
from the business-type activities to governmental
activities of $11,150,182. In the previous year there
were net transfers from governmental activities to
business-type activities of $7,054,842.
In the current year proceeds of revenue bonds
issued by the water fund totaling $13,848,571 were
transferred to the capital improvement sales tax -water
projects fund to call $14,050,000 of the 1998 water
revenue bonds that had originally been issued through
the state revolving loan program to expand the City's
water plant. During the current year the sewer fund
transferred amounts totaling $2,513,700 to the capital
improvement sales tax funds. These were made to
return transfers received from those funds in the
previous year to cover short-term cash flow deficits
related to the construction and design of the new
wastewater treatment plant.
Transfers of sales tax revenue for bond payments
totaling $1,624,914 and operating subsidy transfers
from the general and parks I storm water sales tax funds
totaling $853,864 were made during the current year.
Last year these transfers totaled $1,702,899 and
$836,147, respectively. During the current year capital
improvements totaling $2,600,737 were transferred to
the water, sewer, golf and softball complex funds from
capital project funds. Last year these transfers were
$1,976,826. $125,000 was transferred from the casino
revenue fund to the sewer fund during the current year
to fund a portion of the costs of the new wastewater
treatment plant.
The net change in assets before transfers and general
revenues in the sewer, water, solid waste, golf, and
softball operations totaled $873,466, $402,135,
(193,009), $(l87,666), and $(615,602), respectively,
this year. This compares to $(2,035,535), $395,503,
$(203,959), $(193,381), and $(460,232), respectively,
in the previous year.
Revenues for business-type activiies
Capital
grants
2.5%
Other
17% Charge for
SerVice
Grants
Operating
95.7%
0.1%
Financial Analysis of the City's Funds
As noted earlier, the City of Cape Girardeau uses
fund accounting to ensure and demonstrate
compliance with finance-related legal requirements.
11
CITY OF CAPE GIRARDEAU, MISSOURI
Governmental funds, The focus of the City's
governmental funds is to provide information on
near-term inflows, outflows, and balances of
spendable resources, Such information is useful
in assessing the City's financing requirements,
In particular, unreserved fund balance may serve
as a useful measure of the City's net resources
available for spending at the end of a fiscal year,
As ofJune 30, 2012, the City'S governmental
funds reported combined ending fund balances
of$27,343,440, an increase of$I,748,487
(6,8%) from the prior year, Unassigned fund
balances, which are available for spending at the
City's discretion, account for $3,114,973
(I 1,4%) of the total fund balances,
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, 2012: (1) $1,003,400 is classified as
nonspendable because it is either (a) not in
spendable form or (b) legally or contractually
required to be maintained intact (2) $20,759,112
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) $2,465,956 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
30,2012, unassigned fund balance of the general
fund was $3,114,973 while total fund balance
was $8,226,108. As a measure of the 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 12.6 percent of total
general fund expenditures including transfers.
However, included in the reserved fund balance
is $3,930,688, which had been reserved to meet
the City Charter's emergency reserve
requirement. This amount represents 15.9
percent of total general fund expenditures
including transfers and could be used if an
emergency was declared by the City Council.
The Governmental Funds Statement of Revenue,
Expenditures, and Changes in Fund Balance shows
that the total fund balance of the City of Cape
Girardeau's general fund increased by $1,756,981
during the current fiscal year. However, the General
Fund Statement of Revenues, Expenditures, and
Changes of Fund Balance prepared on a budget basis
shows a current fiscal year increase of$1 ,871 ,880,
Differences between the amounts reflected in the two
statements can be found in the Notes to Budgetary
Comparison Schedules found on pages 86 to 89.
The original adopted general fund budget for the
fiscal year ending June 30, 2012 had a surplus of
revenues over expenditures of$2,229. The actual
general fund results increased fund balances by
$1,871,880. Significant deviations from this budget
are detailed below:
o Sales tax revenue was $426,465 (4,8%)
more than the previous year, which was
$430,635 (4.8%) more than projected for the
adopted budget. The adopted budget projected
revenues that were I % above the projected fiscal
year ending June 30, 2011 revenues. Actual
revenue for fiscal year ending June 30, 2011
increased 2.06% from the previous year while
the budget had assumed it would increase only
1%.
o Franchise tax revenue was $343,251
(8.3%) more than projected for the adopted
budget. Franchise taxes from the City'S water
and sewer, telecommunications, and electric
utilities exceeded their budgets by $232,518
(47,4%), $92,647 (41.9%), and $162,601
(7.3%), respectively. Franchise tax from natural
gas utilities and cable TV were $129,838
(16,4%) and $14,677 (3.7%) below their
projected budget.
o During the current year Ameren paid
$66,058 (2.1 %) less franchise taxes than the
previous year. Payments received on natural gas
sales declined $135,273 (16.9%) from the
previous year even though natural gas rates
averaged approximately 3.5% more during the
current year. Payments received on electricity
sales only increased $69,215 (2.9%) even
though the average residential rates averaged
6.8% more than the previous year. Projections
used in the current year's budget had assumed
natural gas usage equal to usage from calendar
year 2010 and electricity usage equal to usage
for fiscal year ending June 30, 20 10 and rates in
effect in April 201 I. An extremely mild winter
had a negative impact on both the natural gas
and electricity receipts.
12
CITY OF CAPE GIRARDEAU, MISSOURI
o During the current year the City
received payments in lieu of franchise taxes
from its water and sewer funds totaling
$723,484. This was $243,868 (50.9%)
greater than the previous year. In the
current year the water fund increased its
residential and commercial rates by 5%.
The sewer fund increased its fixed rates by
293.1% and its volume based rate by
122.3% to produce the revenues that will
be needed to service the debt that will be
issued in conjunction with the construction
of a new sewer plant. The amount of
payments in lieu of franchise taxes
projected for the current year's budget had
not assumed the sewer rate increases.
o Franchise tax paid during the current
year by the City's telecommunication and
cable TV service providers decreased
$30,847 (8.9%) and $1,443 (.4%),
respectively, from the previous year.
During the previous year the City received
$49,600 in back taxes from T-Mobile. The
amount of projected franchise tax from
telecommunication providers used in the
current year's budget was significantly
underestimated.
o Property tax revenue increased
$50,845 (3.1%) over the previous year and
was $28,572 (1.7%) more than the
projected budget. The current year's
revenue includes $10,908 of protested
taxes from the previous year. Final adjusted
assessed value of real estate increased
$6,026,040 (1.4%) over the previous year.
New construction of $4, 192,840 and
annexed property of$57,540 were included
in this increase. Final adjusted assessed
value of personal property increased
1,207,385 (1.3%) from the previous year.
The adopted budget for the fiscal year
ending June 30, 2012 had assumed 1.0%
and 0.0% assessed value growth for real
estate and personal property, respectively.
The City tax levy rate did not increase
during the current year.
o Business license revenue increased
$126,410 (10.7%) over the previous year
and exceeded the projected budget by
$106,001 (8.8%). The adopted budget
projected revenues that were 1% above the
projected fiscal year ending June 30, 2011
revenues. Actual revenue for fiscal year
13
ending June 30, 2011 increased only 2.62%
from the previous year while the budget had
assumed it would increase 3.35%.
o Other license and permit revenue was
$52,137 (25.8%) higher this year than the
previous year and was $66,835 (35.7%) more
than projected for the budget. This year's
increase resulted mainly from increases in
construction related permits over the previous
year.
o Intergovernmental revenue exceeded
revenue projected for the budget by $544,689
(113.0%). This year's intergovernmental
revenue included $133,055 in revenues from
various public safety capital grants, $58,461
grant for the City's CERT program, $173,156
grant to establish bicycle routes throughout the
city, $132,587 for an emergency shelter grant
and $58,461 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. None of these
revenues had been projected in the current
year's budget.
o Service charges were $35,933 (2.5%) less
than the previous year but were $30,393 (2.2%)
more than projected in the budget. Internal costs
charged to various parks capital projects
totaling $82,004 had not been anticipated in the
original budget.
a Fines and forfeits revenue was $305,839
(46.5%) more than the previous year and was
$138,252 (16.8%) more than projected in the
budget. There was 27.9% increase in traffic
violations during the current year over the
previous year. The adopted budget for fiscal
year ending June 30, 2012 had assumed revenue
levels approximately equal to fiscal year ending
June 30,2010 levels.
o During the current fiscal year total
expenditures were $408,917 (2.0%) more than
the original budget. Operating expenditures and
capital expenditures exceeded their original
budgets by $312,732 (1.6%) and $98,040
(63.6%) respectively. Actual debt service
expenditures were $1,855 (1.2%) less than the
original budget.
CITY OF CAPE GIRARDEAU, MISSOURI
o Transfers to other funds for operating
subsidies were $131,018 (3.4%) more than
original budget and transfers for capital
expenditures exceeded their original
budgets by $133,672 (3,819.2%).
Proprietary funds. The City of Cape Girardeau's
enterprise funds are all presented as major funds
for purposes of this report. As a result, all
statements related to the enterprise funds are
presented at the government-wide leveL The
City does have Internal Service funds, which are
reported in total on the Proprietary Fund
Statement and consolidated with other
governmental activities on the government-wide
statements.
General Fund Budgetary Highlights
Total expenditures and transfers on the final
amended budget were $1,320,950 (5.5%) more
than the original adopted budget. The changes
that were appropriated by the City Council can
be summarized as follows:
Administrative -$86,000.00 for costs related to
personnel activity not included in the original
budget, city-wide survey, outside legal counsel,
and legal services related to updating the City
code of ordinances.
Development Services $381,500.00 for costs
related to grant funded expenditures to establish
bike routes throughout the city, an emergency
shelter grant, inspection costs of the Casino
construction, fleet maintenance, and other
economic development costs.
Public Safety -$222,150.00 for costs related to
outside legal counsel, prisoner food, fleet
maintenance, part-time and over-time salaries,
and various public safety operating grants.
Parks and Recreation -$38,900.00 for
additional utility, building maintenance, and
building supply costs.
Public Safety -$53,500.00 for costs related to
grant funded police overtime, 4 tasers,
installation of communication equipment,
rewiring of Gordonville communication tower,
and other municipal court, police, and fire
operating expenses
Contingency -$12,000.00 for sink-hole mitigation
costs.
Administrative· $6,000.00 to replace scanner for
personnel records storage system.
Public Safety· $19,200.00 to replace soft-sided
rescue boat.
Public Safety -($93,700.00) for demolition ofa
building on land adjacent to the police station and to
cover the cost of various grant funded capital
projects.
General Fund Transfer to Airport Fund
$75,000.00 to cover projected operating shortfalL
General Fund to Parks and Recreation Fund
$90,000.00 to cover projected operating shortfalL
General Fund to Softball Complex Fund
$40,000.00 to cover projected operating shortfalL
General Fund to Public Safety Trust Fund
$130,000.00 to cover transfer of additional sales tax
revenue.
General Fund to Housing Development Grants
Fund -$36,000.00 to cover costs not reimbursed by
grants.
General Fund to CDBG Grants Fund -$1,000.00
to cover costs not reimbursed by grants.
General Fund to Sewer Fund -$6,000.00 to cover
transfer of equipment from the sewer fund.
General Fund to Equipment Replacement Fund
$30,000.00 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.
14
CITY OF CAPE GIRARDEAU, MISSOURI
Capital Assets and Debt Administration
Capital Assets. The City of Cape Girardeau's
investment in capital assets for its governmental
and business-type activities as of June 30, 2012,
amounts to $265,326,241 (net of accumulated
depreciation). This investment in capital assets
includes all land, buildings and system
improvements, machinery and equipment, and
infrastructure owned by the City.
City Capital Assets
IiiILand
• Buildings/Equipment
o Infrastructure
51.0%
Major capital asset events during the current
fiscal year included the following:
a Construction costs totaling $5,559,062 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 and
sidewalk construction and repair.
a Costs totaling $1,283,828 related to the
new Wastewater Treatment Plant were
incurred this year.
o Construction costs totaling $2,493,285 on
various water system projects were incurred
this year. Major water system improvements
included the completion of a new water
distribution line, software to run four new
wells, the addition of water main extensions
and the continuation of the two-inch water
main replacement program.
o Costs totaling $4,798 were incurred for
sidewalk construction for the safe routes to
school program. These costs were almost
entirely funded by the Department of
Transportation.
o $770,386 in construction costs were incurred
for a street project that is being partially
funded by the Missouri Department of
Transportation.
o Department of Transportation funds were used
to partially fund the $39,838 spent to expand
the City's trail system.
o In April 2008 voters approved a Ih cent sales
tax to pay for storm water and park
improvement projects. $289,220 and
$494,589 were spent respectively during the
current year on these projects.
o Sewer projects funded by sewer revenue
amounted to $189,575 in capital expenditures
during the current year.
Additional information about the City's capital assets
can be found in note D to the fmancial statements.
City of Cape Girardeau's Capital Assets
(oet of depreciation)
Governmental Business-type
Activity Activities Total
2012 2011 2012 2011 2012 2011
Land 4,926,320 5,402,766 647,165 161,989 5,573,485 5,564,755
Buildings and
system
improvements 22,754,492 23,668,979 2,495,635 2,701,428 25.250,127 26,370,407
Improvements
other than
buildings 10,363,902 11,026,806 89,417.174 85,489,842 99,781,076 96,516,648
EqUipment 6,019,842 5,785,693 4,200,680 4,515,275 10,220,522 10,300,968
Infrastructure 118,903,775 116,018,659 118,903,775 116.018,659
Construction in
progress 2,218.015 2,632,693 3,379,241 5,663,362 5,597,256 8,296,055
Total 165,186,346 164,535,596 100,139,895 98,531,896 265,326,241 263,067,492
15
CITY OF CAPE GIRARDEAU, MISSOURI
City of Cape Girardeau's Outstanding Debt
Year ended 2012
Governmental Business-type
Activit:t Activities Total
2012 2011 2012 2011 2012 2011
647,528 692,646 810,109 870,117 1,457,637 1,562,763
3,989,317 4,839,002 1,017,537 1,150,626 5,006,854 5,989,628
937,600 16,218,078 34,208,439 22,961,375 35,146,039 39,179,453
14,371,824 16,233,412 14,371,824 16,233,412
Notes payable
Special
obligation
bonds
Revenue bonds
Certificates of
participation
General
obligation
bonds
Leasehold
revenue bonds
19,946,269 37,983,138 36,036,085 24,982,118 55,982,354 62,965,256
Long-tenn debt. At the end of the fiscal year,
the City of Cape Girardeau had total debt
outstanding of$55,982,354. Bonded debt
outstanding totaling $35,146,039 is secured by
revenues of the sewer and water funds and
capital improvement sales taxes, The repayment
of the remaining debt is subject to annual
appropriations. The City'S total outstanding debt
declined by $6,982,902 (l1.1%) during the
current year.
In the current year the City received
disbursements totaling $199,000 from a
$31,000,000 direct loan authorized during the
current year through the state revolving loan
program to fund costs related to the future
construction of a new wastewater treatment
plant.
Also during the year the City used $13,999,459 of
proceeds from the issuance of water revenue bonds
and a portion of debt service reserves to call
$14,050,000 of the 1998 water revenue bonds that
had originally been issued through the state revolving
loan program to expand the City's water plant.
Regularly scheduled principal payments and
amortization of bond premiums / discounts resulted
in outstanding long-tenn debt being reduced by
$7,131,361.
More information about the City's outstanding debt
can be found in note E to the fmancial statements.
16
CITY OF CAPE GIRARDEAU, MISSOURI
Economic Factors and the Next Year's Budget
Residential development showed significant
improvement during the past year. Values of
residential permits issued during the year
increased 214.6% over the previous year's
values. Residential development this year was
the strongest since fiscal year ending June 30,
2007. Commercial development.also increased
significantly during the current. Values of
commercial permits issued during the year were
27.0% higher than the previous year.
Commercial development was stronger this year
than all but one of the past five years.
Commercial and residential permits valued at
$38.3 million and $16.1 million were issued this
year. Commercial and residential permits valued
at $30.2 million and $5.1 million were issued in
the previous year. In the current year 52 single
family residence and 14 two family residence
building permits totaling $9,599,218 and
$2,267,000 respectively were issued. In the
previous year 19 single family residence and I
two family residence building permits totaling
$2,760,860 and $210,000 respectively were
issued.
Local employment continues to be stronger than
state and national employment. The Cape
Girardeau County unadjusted unemployment rate
was only 5.7% in October 2012.This compares
favorably with the statewide and national
unadjusted unemployment rates which were of
6.6% and 7.5% respectively. The unadjusted
unemployment rates were 6.7%,7.9% and 8.5%
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 tax provide significant
support to local construction employment.
The following major retail stores have been
constructed or announced during the past year.
Menard's, a 150,000 square foot home
improvement store, opened in May 2012. This
was expected to employ approximately 150
people. In October 2012 Academy Sports
announced that it would be constructing a 75,000
square foot facility in the city. This store is
expects to employ approximately 75 people.
In October 2012 the Isle of Capri opened its $125
million casino development in the downtown area.
The development should employ approximately 450
people and produce an estimated $3 million of
additional annual tax revenue for the City.
In October 2012 Procter and Gamble announced a
$300 million expansion of its plant located in Cape
Girardeau County. This expansion should create 50
additional permanent jobs. Expansion projects
estimated to cost approximately $127 million in total
for other manufacturing plants in the local area have
been announced or completed during the past year.
These projects are expected to create approximately
90 permanent jobs.
During the year the City continued to enhance its
position as a regional medical center. Both hospitals
have continued to expand their facilities. In
December 2012 Saint Francis Medical Center
announced an estimated $130 million expansion of its
facilities.
Taxable sales subject to the City's general sales tax
increased 4.8% 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 fee that is not based on actual costs
to the user and strictly limits the City's ability to
increase its real estate and personal property tax
levies to support its general services such as police
and fire protection. The City Charter requires voter
approval to increase sewer, water, and solid waste
fees by more than 5% in any year. All other user fees
can be adjusted to cover actual costs.
Improving retail economy. Sales tax is a significant
revenue source of the City and is a barometer of the
local economy. In the current year sales tax revenue
from the general sales tax increased 4.8% while
inflation grew at 3.1 %. In the previous year sales tax
revenue from the general sales tax increased 2.1 %
while inflation grew at 1.8 %.
The City's restaurant gross receipt tax and
hoteVmotel gross receipt tax increased 5.6% and
9.4%, respectively, during the current year. In the
previous year they increased 4.6% and 7.3%,
respectively.
17
CITY OF CAPE GIRARDEAU, MISSOURI
Regional retail center. Through most of the
1990's Cape Girardeau continued to be a
regional retail center for much of Southeast
Missouri and Southern Illinois. During the latter
part of the 1990's Cape Girardeau began to lose
its share of the retail market to other cities in the
region as these cities added additional retail
outlets in their communities.
SALES TAX COMPARISON
FY09 FY10 FY11 FY12
Cape Girardeau 41.1% 41.7% 41.9% 42.4%
Carbondale 27.7% 27.9% 27.9% 27,4%
Jackson 9.9% 9.5% 9.6% 9.6%
Perryville 7,4% 7.4% 7.2% 7.2%
Sikeston 13.9% 13.5% 13.4% 13.4%
100.0% 100.0% 100.0% 100.0%
The previous table, which includes the City of
Cape Girardeau and significant retail centers
within a 50 mile radius, shows the percentage of
estimated sales made by each City to the total
estimated sales of the five cities. 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 entered into a
development agreement that will pay up to $3
million dollars for public improvements at a new
Academy Sports store. These improvements will
be paid from additional sales tax generated from
this project.
In the previous 8 years the City has entered into
4 long-term development agreements to
reimburse companies for the public
improvements associated with 4 retail
development projects from the additional sales
tax generated from those projects. The
agreements have resulted in the addition of two
major new retailers, 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 $167,828 during the current
year. Payments totaling $1,139,242 have been
made since the beginning of these agreements.
During the year the City spent $65,986 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.
On December 12,2012, the City announced its
intention to purchase 247.43 acres along interstate 1
55 around the new LaSalle interchange for
$6,000,000 under terms agreed to with the Southeast
Missouri University Foundation. Per the terms, a
$480,000 down payment will be made by the Greater
Cape Girardeau Benevolent Association on behalf of
the City and the City will make 12 annual payments
of$460,000. The contract for this purchase is
expected to be approved in January 2013. The land
will be used for future business development and is
best suited for distribution centers, light
manufacturing, technology-related businesses and
some retail development.
Budget for fiscal year ending June 30, 2013 and
financial condition The adopted general fund budget
for the fiscal year ending June 30, 2013, was
projected to produce a $168,118 surplus.
The adopted general fund budget included a 2% wage
increase effective July 1,2012 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 $73,164 in capital costs.
The City's current financial position had improved
substantially during the past three years and is good
in that it has more than adequate fund balance to
cover existing claims and potential emergencies. Its
financial condition or its ability to provide enough
reoccurring revenues to meet its reoccurring needs
has also improved over the past three years.
However, it is still less than desirable. Funding of
equipment for the general and airport funds,
excluding police, fire, and various park divisions is
still not at desired levels.
Requests for Information
This financial report is designed to provide a general
overview of the City of Cape Girardeau's finances
for all those with an interest in the City's finances.
Questions concerning any of the information
provided in this report or requests for additional
financial information should be addressed to the
Finance Director, City of Cape Girardeau, PO Box
617, Cape Girardeau, MO 63702-0617.
18
BASIC FINANCIAL STATEMENTS
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2012
Governmental
Activities
Primary Government
Business-type
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
Internal balances
Inventory
Prepaid items
Restricted cash and cash equivalents
Restricted investments
Land
Buildings
Other improvements
Equipment
Infrastructure
Construction in process
Total assets
$ 866,697.20
27,857,249.70
4,163,096.09
371,408.42
64,432.68
291,205.34
231,568.94
118,669.75
1,089,477.95
400,557.03
218,629.09
463,279.08
4,926,319.40
22,754,492.03
10,363,902.36
6,019,842.36
118,903,775.15
2,218,015.01
$ 201,322,617.58
$ 222,328.00
8,131,316.84
2,757,630.11
42,882.45
28,619.15
27,984.30
8,253.65
(400,557.03)
683,875.00
132,864.81
1,413,472.06
1,599,609.10
647,165.04
2,495,634.96
89,417,174.02
4,200,679.74
3,379,240.83
$ 114,788,173.03
$
$
1,089,025.20
35,988,566.54
4,163,096.09
2,757,630.11
414,290.87
93,051.83
319,189.64
231,568.94
118,669.75
1,097,731.60
902,504.09
596,143.89
1,413,472.06
1,599,609.10
5,573,484.44
25,250,126.99
99,781,076.38
10,220,522.10
118,903,775.15
5,597,255.84
316,110,790.61
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2012
Governmental
Activities
Primary Government
Business-type
Activities Total
LIABILITIES
Accounts payable
Salaries and benefits payable
Interest payable
Other liabilities
Estimated claims
Due to other governments
Uneamed revenues
Estimated landfill post closure costs
Current portion long-term debt:
Notes payable
Revenue bonds payable
Leasehold revenue bonds payable
Special obligation bonds payable
Long-term debt net of current portion:
Notes payable
Revenue bonds payable
Leasehold revenue bonds payable
Special obligation bonds payable
Compensated absences payable
Net OPEB Obligaton
Total liabilities
$ 2,484,507.99
348,122.49
157,335.00
256,510.55
510,500.00
2,206.64
71,605.50
127,632.85
42,800.00
1,955,000.00
855,000.00
519,895.06
894,800.00
12,416,824.63
3,134,316.59
830,815.80
2,132,543.00
26,740,416.10
$ 1,103,847.08
66,531.20
133,550.24
568,086.93
79,463.67
39,000.00
30,004.00
4,620,000.00
140,000.00
780,104.94
29,588,439.40
877,536.50
119,635.29
233,264.00
38,379,463.25
$ 3,588,355.07
414,653.69
290,885.24
824,597.48
510,500.00
81,670.31
71,605.50
39,000.00
157,636.85
4,662,800.00
1,955,000.00
995,000.00
1,300,000.00
30,483,239.40
12,416,824.63
4,011,853.09
950,451.09
2,365,807.00
65,119,879.35
NET ASSETS
Invested in capital assets, net of related debt
Restricted for debt service
Restricted for depreciation and replacement
Restricted for emergency fund
Restricted for Mausoleum
Restricted for River Campus Project
Restricted for Local Access Channel
Restricted for Operation and Maintenance
Unrestricted
Total net assets
145,265,493.72
20,353.39
4,595,853.00
92,268.63
125,985.04
44.82
17,454.82
24,464,748.06
$ 174,582,201.48
64,211,791.19
568,333.33
277,000.00
2,789,107.00
8,562,478.26
$ 76,408,709.78 $
209,477,284.91
588,686.72
277,000.00
7,384,960.00
92,268.63
125,985.04
44.82
17,454.82
33,027,226.32
250,990,911.26
See Accompanying Notes to Basic Financial Statements.
t-l
City of Cape Girardeau
Statement of Activities
For the Year Ended June 30, 2012
Program Revenues
Net (Expense) Revenue and
Changes in Net Assets
Primary Government
Governmental
Activities
Business-type
Activities TotalFunctionsfPrograms
Primary government:
Governmental activities:
Administrative
Capital Improvements
Development Services
Interest and other costs
Parks and Recreation
Public Safety
Public Works
Total governmental activities
Business-type Activities:
Golf Course
Sewer
Softball Complex
Solid Waste
Water
Total business-type activities
Expenses
$ 5,727,257.55
620,298.05
3,104,617.30
1,440,995.11
5,178,739.63
13,180,887.17
7,155,730.87
36,408,525.68
699,593.94
6,987,740.06
879,164.35
3,558,891.62
6,937,308.61
19,062,698.58
Charges for
Services
$ 1,450,890.70
734,732.21
1,598,709.11
1,109,461.13
163,329.57
5,057,122.72
499,839.32
7,765,323.79
263,399.05
3,338,511.59
6,962,908.84
18,829,982.59
Operating Grants
and Contributions
$ 166,965.52
824,664.77
27,535.30
494,865.10
33,248.18
1,547,278.87
60.60
13,594.39
13,654.99
Capital Grants
and
Contributions
$ 58,652.00
991,912.50
158,142.94
123,841.48
1,332,548.92
12,088.90
95,821.97
162.49
13,777.00
376,533.81
498,384.17
$ (4,050,749.33)
371,614.45
(1,545,220.32)
(1,440,995.11 )
(3,552,495.22)
(11,418,418.00)
(6,835,311.64)
@M71,575.17)
$ $ (4,050,749.33)
371,614.45
(1,545,220.32)
(1,440,995.11 )
(3,552,495.22)
(11,418,418.00)
(6,835,311.64)
(28,471,575.171
(187,665.72) (187,665.72)
873,466.30 873,466.30
(615,602.81) (615,602.81)
(193,008.64) (193,008.64)
402,134.04 402,134.04
279,323.17 279,323.17
Total primary governrnent $ 55,471,224.26 $ 23,887,105.31 $ 1,560,933.86 $ 1,830,933.09 (28,471,575.17) 279,323.17 (28,192,252.00)
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau
Statement of Activities
For the Year Ended June 3D, 2012
Program Revenues
Net (Expense) Revenue and
Changes in Net Assets
FunctionslPrograms Expenses
Charges for
Services
Operating Grants
and Contributions
Capital Grants
and
Contributions
Governmental
Activities
Primary Government
Business-type
Activities Total
Primary government:
t'J tv
Governmental activities:
General revenues:
Property taxes
Sales taxes
Franchise taxes
Motor fuel taxes
Convention and tourism taxes
Merchant licenses
liquor licenses
Other taxes
Unrestricted grants and contributions
Unrestricted investment earnings
Gain on sale of assets
Transfers
Total general revenues
Change in net assets
2,008,140.32
25,442,575.24
4,497,417.26
1 ,354,087.77
1,886,774.68
1,313,000.81
64,965.00
419,974.26
55,343.73
570,203.63
117,906.30
11,150,181.57
48,880,570.37
20,408,995.20
267,084.94
58,291.98
(11,150,181.57)
(10,824,804.65l
(10,545,481.48)
2,008,140.32
25,442,575.24
4,497,417.26
1,354,087.77
1,886,774.68
1,313,000.61
64,965.00
419,974.26
55,343.73
837,28857
176,198.28
38,055,765.72
9,863,513.72
Net assets -beginning
Prior period adjustment
Net assets -ending
154,239,910.72
(66,704.44)
$ 174,582,201.48 $
86,931,231.89
22,959.37
76,408,709.78
241,171,142.61
{43,745.07l
$ 250,990,911.26
See Accompanying Notes to BasiC Financial Statements.
FUND FINANCIAL STATEMENTS
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2012
Park and
Capital Improvement
Sales Tax-
Transportation
Sales Tax
Other
Governmental
Total
Governmental
General Airport Recreation Water System Imp Trust Fund IV Funds Funds
ASSETS
Current assets:
Cash and cash equivalents
Investments
$ 161,903.44
4,752,620.77
$ 1,267.93
46,424.14
$ 16,674.57
610.521.88
$ 124,002.62
2,461,042.26
$ 95,158.51
3,484,129.25
$ 323,103.22
11,412,215.00
$ 722,110.29
22.766.953.30
tv
f...J',J
Receivables-
Real estate taxes, net
Personal property taxes. net
Sales tax
Franchise taxes
Hotel & motel tax
Restaurant tax
Special assessments
Other
Interest
Motor fuel tax
Vehicle license fees
Motor vehicle sales tax
Grants
Other funds
Inventory
Prepaid items
54,084.40
4,047.33
833,388.66
1,634,325.17
94.349.83
82,036.48
9,824.82
173,292.94
140,024.15
111.96
124,418.29
154.016.61
109.39
100,777.86
39,254.84
15,859.10
36,483.78
1,444.61
10.917.33
2,763.39
208,175.93
5,761.90
408.055.98
8.137.89
17,804.20
758.32
828,546.06
68.097.65
105,812.39
277,058.59
3.255.36
27.906.41
84,973.34
13,576.81
20.119.60
815,317.15
8,736.85
13,941.04
71,888.60
4.805.65
2,278,166.63
1.634,325.17
68.097.65
105,812.39
371,408.42
275.792.23
53.185.02
84,973.34
13,576.81
20.119.60
1,089,387.95
140,024.15
59,020.98
156.981.82
Total Current assets: 8,064,428.24 357,709.87 678,805.56 2,798,982.71 3,995,481.63 14,021,221.99 29,916,630.00
Noncurrent assets:
Advances to other funds
Total Noncurrent assets:
844,918.69
844,918.69
844,918.69
844,918.69
$ 8,909,346.93 $ 357,709.87 $ 678,805.56 $ 2.798,982.71 $ 3,995,481.63 $ 14,021,221.99 $ 30,761,548.69Total assets
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2012
General Airport
Park and
Recreation
Capital Improvement
Sales Tax-
Water System Imp
Trans Sales Tax
Trust Fund IV
Other
Governmental
Funds
Total
Governmental
Funds
LIABILITIES AND FUND
BALANCES
Current liabilities:
Accounts payable
Salaries and benefits payable
other liabilities
Due to other governments
Payable to other funds
Unearned revenues
Deferred revenues
$ 241,693.27
54,759.84
167,692.48
18,000.00
201,093.81
$ 143,094.46
2,616.91
47,533.37
1,694.00
$ 129,143.98
70,029.62
41,107.04
51,911.50
$ $ 933,244.05 $ 879,384.18
751.38
177.66
2,206.64
140,024.15
291,950.47
$ 2,326,559.94
128,157.75
256,510.55
2,206.64
140,024.15
71,605.50
493,044.28
Total Current liabilities: 683,239.40 194,938.74 292,192.14 933,244.05 1,314,494.48 3,418,108.81
N
.j:::.. Non current liabilities:
Advances from other funds
Total Non current liabilities:
Total liabilities 683,239.40 194,938.74 292,192.14 933,244.05 1,314,494.48 3,418,108.81
Fund balances:
Nonspendable
Restricted
AsSigned
Unassigned
Total fund balances
971,436.98
4,020,901.45
118,796.50
3,114,972.60
8,226,107.53
15,859.10
146,912.03
162,771.13
2,763.39
383,850.03
386,613.42
2,798,982.71
2,798,982.71
3,062,237.58
3,062,237.58
13,340.04
10,876,989.90
1,816,397.57
12,706,727.51
1,003,399.51
20,759,111.64
2,465,956.13
3,114,972.60
27,343,439.88
Total liabilities and fund
balances $ 8,909,346.93 $ 357,709.87 $ 678,805.56 $ 2,798,982.71 $ 3,995,481.63 $ 14,021,221.99 $ 30,761,548.69
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Assets
For the Year Ended June 30,2012
Fund balances of governmental funds $ 27.343.439.88
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.
(21,656,970.56)
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds, net of accumulated depreciation of
$74,050,795.75.
163,244,851.97
N
VI
Internal service funds are used by management to charge the costs of management
information systems. fleet management. employee fringe benefits, workmen's
compensation, and equipment replacement to individual funds.
6,328,964.08
Other long-term assets are not available to pay for current-period expenditures and,
therefore are deferred in the funds.
493,044.28
Other accrued expenses which are not payable from current-period revenues
are included in governmental activities in the statement of net assets.
(1,171.128.17)
Net assets of governmental activities $ 174.582,201.48
City of Cape Girardeau
Statement of Revenues, Expenditures, and Changes In.Fund Balances
Governmental Funds
For the Year Ended June 30,2012
Capilallmprovement Transportalion Other Total
Pari< and Sales Tax-Sales Tax Governmenlal Governmental
General Airport Recreation Water S~tem Imp Trust Fund IV Funds Funds
REVENUES
Taxes $ 15,711,509.61 $ $ $ 2,331,832,70 $ 4,522,317.81 $ 11.736,398,86 $ 34,302,058,98
Licenses & permits 1,567,135,53 3,109.00 1,570,244.53
Intergovernmental 1,036,422.58 225,617.52 30,000,00 2,621,174.75 4,113,214.65
Charges for services 257,255,07 316,925.84 1,279,816.68 53,745.39 1,907,742.98
Intemal charges 1,084,452.10 1,084,452.10
Fines and forfeits 963,252.22 963,252.22
Miscellaneous 345,835,19 229,263.79 13,283,48 166,174.26 754,558.72
Investment revenue 106.424.86 865.73 4,759,65 71,898,86 63,163.36 238,760,62 485,673,08
Special assessments 23,388,95 102,728,58 126,117.53
Total revenues 21,095,676,11 772.672.88 1,297,859,61 2.403.731,56 4,615.481.17 15,122,091.48 45.307.512.99
EXPENDITURES
Current
Administrative 1,742,587,66 1,282,624,16 2.010,354.10 5,035.575.94
Developmenl Services 2,265,837.61 36.937.62 66,152.67 727,422.86 3,098,351.16
Parl<s and Recreation 1,830,322.98 2,248,746.39 66,016.92 4,145,088,29
Public Safely 11,976.661.16 344,406,04 12,32.1,269,20
tv
0'1
PublicWOfks
Debl Service:
2,359,163.47 2,359,163,47
Administralive charges 267.38 58,406,05 6,191.63 62,a85,06
Inlerest 62,834.15 810,294.47 738,153.26 1,611,261.68
Principal 96.000.00 15,306,800.00 2,639,118.31 18,041,918.31
Capital outlay
Admlnistrallve 35,856,29 5,525.00 41,381.29
Capital Improvements 3,182,578.71 6,928.495.91 10,111,07462
Pal1<s and Recreation 575,009.12 575,009.12
Public Safely 134,583.47 262,715,54 397,299.01
PublicWorl<s 26.634.65 5,517.49 32,152.14
Total expenditures 20,530.969,04 2,248,748.39 16,212,438.14 3,246,731.56 14,303.413.18 57,832,449.49
Excess (deficiency) of
revenues over
expenditures 584,707.Q7 (515,476.28) (950,888.58) (13,806,706.58) 1,366,749,59 618,678.28 (12.524,936.50)
OTHER FINANCING
SOURCES (USES) .
Transfers out (4,156,970,93) (8,891,102.80) (13,048,073.73)
Transfers In 4,791,917.07 527,563.46 944,843.34 15,248,651.57 135,000.00 5,105.052.57 26,753,028.01
Asset disposition 557,328.27 6,287,79 4,852.61 568,468.67
Total other financing
sources and uses 1,192,274,41 533,851.25 949,695.95 15,248,651~57 135,000,00 (3,766,050.23) 14,273,422.95
Net Change In fund
balances 1.758,981,46 18,374.97 (1,192.63) 1.439.944,99 1,501,749.59 (2,967,371.95) 1,748,486.45
Fund balances -beginning 6,450,686,39 145,683,54 414,835.27 1,361,474.50 1,549,005.51 15,742,842.19 25,664,527.40
Prior period adjustment 18,439.66 (1,287.38) (27,029.22) (2.4 36.78) 11.482.48 (68,742.73) (69,573,97)
Fund balances ending $ 8,226,107.53 $ 162,771.13_ $ 386,613,42 _ $ 2,798,962.71 $ __ 3,062,23I,58 .$ 12,706,727.5!. $ 27,343.439.88
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau
Reconciliation of the Statement of Revenues, Expenditures,
and Changes in Fund Balances of Governmental Funds to the Statement of Activities
For the Year Ended June 30, 2012
Net change in fund balances -Iotal governmental funds $ 1.748,486.45
Amounts reported for governmental activities in the statement of activities
are different because:
Reductions of debt are reported in the fund financial
statements as an expense but are not induded in the
government wide statement of activities.
17,760,027.75
Governmental fund report capital oulays as expenditures.
However, In the statement of activities, the cost of those
assets are allocated over their estimated useful lives and
reported as depreciation expense. This is the amount by
which depreciation expense exceeded capHal ouUays in
the current period.
556,269.14
tv
-.....l
Intemal service funds are used by management 10 charge
the costs of intolll1ation technology, fleet
management, employee tringe benefrts, worl<men's
compensation, and equipment replacement to individual
funds.
Other 10ng-telll1 assets are not available to pay for currenl·
period expenditures and, therefore are deferred in the
funds.
339,519.39
(229,469.69)
Some expenses reported in the slatement of activities do nol
require the use of current financial resources and, therefore,
are not reported as expenditures in governmental funds.
234,162.16
Change in net assets of governmental activities $ 20,408,995.20
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 3D, 2012
Business-type Activities -Enterprise Funds
Total Gov. Activities
Sewer Water Solid Waste Golf Course Softball ComQlex
Proprietary
Funds
Internal Service
Funds
ASSETS
Current assets:
Cash and cash equivalents
Investments
Utilities charges, net
Special assessments
Other
Notes receivable
Interest
Grants
Inventory
Prepaid items
$ 47,143.67
1,629,425.41
1,081,462.70
33,755.66
17,341.05
10,701.09
6,766.07
81,758.99
$ 145,680.57
5,373,296.79
1,159,868.29
9,126.79
10,442.25
15,279.75
1,276.52
656,930.72
29,399.01
$ 24,696.80
952,592.78
516,299.12
59.00
2,225.83
155.24
20,074.10
$ 2,153.59
78,851.48
109.00
184.97
8,246.05
461.37
$ 2,653.37
97,150.38
33.00
227.51
55.82
18,698.23
1,171.34
$ 222,328.00
8,131,316.84
2,757,630.11
42,882.45
27,984.30
28.619.15
8,253.65
683,875.00
132,864.81
$ 144,586.91
5,090,296.40
15,413.11
231,568.94
11,247.66
90.00
159,608.11
39,394.78
tv
00 Total Currents assets: ~908,354.64 7,401 ,300.69 1,516,102.87 90,006.46 119,989.~ 12~035,754.31 .. 5,692,205.91
Noncurrent assets:
Rest Cash and Cash Equivalents
Rest Investments
Land
Buildings
Equipment
Other improvements
Construction in progress
Accumulated depreciation
1,393,243.41
133,195.18
534,925.49
8,078,346.00
3,342,923.17
71,.032,664.55
3,053,978.48
(34,731,864.2.0)
20,120.79
1,462,464.64
223,646.63
2,069,208.07
54,670,243.34
300,759.85
(14,832,144.03)
107.86
3,949.28
112,239.55
1,082,093.13
3,630,631.70
333,132.92
(2,675,1.01.6.0)
163,674.80
100,453.93
1,972,744.42
(686,752.43)
931,264.25
136,876.37
1,557,642.35
24,502.5.0
(286,194.65)
1,413,472.06
1,599,609.10
647,165.04
10,479,024.81
9,280,093.24
129,566,427.58
3,379,240.83
(53,212,056.91 )
37,500.00
53,906.45
4,861,930.92
155,653.19
3,77.0.79
(3,171,267 . .01)
Total Noncurrent assets: 52,837,412 . .08 43,914,299.29 2,487,052.84 1,550,120.72 2,364,090.82 103,152,975.75 1,941,494.34
Total assets $ 55,745,766.72. 51,315,!j99.98 $ 4,0.03,155.71 $1,640,127.18 $_MM,.o80.47 15,188,73.0.06 $ 7,633,700.25
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 30, 2012
Business-type Activities -Enterprise Funds
Total Gov. Activities
Sewer Water Solid Waste Golf Course Softball Com21ex
Proprietary
Funds
Internal Service
Funds
LIABILITIES
Current liabilities:
Accounts payable
Salaries and benefits payable
Interest payable
Other liabilities
Estimated claims payable
Due to other govemments
Advances from other funds
Notes Payable
Revenue bonds payable
Special oblig bonds payable
$ 258,054.00
50,428.63
110,816.91
227,616.62
35,633.89
6,750.00
2,260,000.00
$ 676,650.27
9,506.90
22,733.33
222,363.57
43,829.78
2,360,000.00
$ 92,324.79
42,250.42
108,421.19
26,000.00
23,254.00
140,000.00
$ 17,045.08
35,573.30
9,685.55
29,476.49
$ 59,n2.94
48,407.24
18,351.42
$ 1,103,847.08
186,166.49
133,550.24
568,086.93
79,463.67
73,827.91
30,004.00
4,620,000.00
140,000.00
$ 157,948.05
36,866.56
120.83
510,500.00
40,000.00
IV
\0 Total Current liabilities: 2,949.300.05 3,335,083.85 432,250.40 91.780.42 126,531.60 6,934,946.32 745,435.44
Noncurrent liabilities:
Net OPEB Obligation
Advances from other funds
Notes Payable
Revenue bonds payable
Special oblig bonds payable
Est landfill post closure cost
87,970.00
175,500.00
16,249,411.95
26,725.00
13,339,027.45
n,157.00
530,817.85
604,604.94
8n,536.50
39,000.00
31,730.00
133,603.17
9,682.00
106,669.76
233,264.00
771,090.78
780,104.94
29,588,439.40
8n,536.50
39,000.00
114,467.00
472.07
Total Non current liabilities: 16,512,881.95 13,365?52.45 2,129,116.29 165,333.17 116,351.76 32,289,435.62 114,939.07
Total liabilities ~462,182.00 16,700,836.30 2,561,3§6.69 . 257,113.59 242,883.36 39,224,381.94 860,374.51
NET ASSETS
Invested in capital assets, net of related
Restricted for debt service
Restricted for depr and replacement
Restricted for emergency fund
Unrestricted
32,682,199.59
127,000.00
1,028,645.00
2,445,740.13
26,758,747.18
568,333.33
150,000.00
1,245,739.00
5,891,944.17
856,632.88
514,723.00
70,433.14
1,550,120.72
(167,107.13)
2,364,090.82
(122,893.71 )
64,211,791.19
568,333.33
2n,OOO.00
2,789,107.00
8,118,116.60
1,901,522.78
4,871,802.96
Total net assets $ 36,283,584.72 $ 34,614?63.68 $ 1,441,789.02 $ 1,383,013.59 $ 2,241,197.11 75,964,348.12 $ 6,n3,325.74
Adjustments 10 reflectihe consolidation of internal service fund activities related to enterprise funds' nel asset. of business·type activities 444,361.66
$ 76,408,709.78
See Accompanying Notes to BasiC Financial Slatements.
City of Cape Girardeau
Statement of Revenues, Expenses, and Changes in Fund Net Assets
Proprietary Funds
For the Year Ended June 30, 2012
Total Gov. Activities
Sewer Water Solid Waste Golf Course Softball ComElex
Proprietary
Funds
Internal Service
Funds
Operating revenues:
Residential charges
Commercial charges
Transfer station charges
Other fees and charges
Concession revenues
Internal charges
Usage fees
Miscellaneous
Total operating revenues
$ 4,781,745.71
2,748,652.28
124,929.31
9,525.07
250.42
7,665,102.79
$ 4,011,000.91
2,704,409.70
221,425.25
26,072.98
6,962,908.84
$ 2,211,227.99
35,121.66
948,100.83
90,949.59
53,111.52
3,338,511.59
$
42,730.48
455,738.50
1,370.34
499,839.32
$
77,600.20
183,113.20
2,685.65
263,399.05
$ 11,003,974.61
5,488,183.64
948,100.83
437,304.15
120,330.68
9,525.07
638,851.70
83,490.91
18,729,761.59
$
6,099,169.06
3,298.95
__ 6,102,468.01
W
0
Operating expenses:
Personnel services
Materials & supplies
Contractual services
General operating expenses
Special programs
Internal service expenses
Depreciation
Total operating expenses
Operating Income (loss)
1,455,525.15
498,548.13
1.263,333.49
490,942.90
16.978.09
178,113.24
2,149,021.66
6,052,462.66
1,612,640 t:t
249,624.19
1,089,858.98
2,817,109.77
388,953.21
392,710.66
124,009.75
1,523,960.45
6,586,22701
376,681.83
1,051,718.72
260,146.55
1.279,451.88
36,945.74
125.482.03
345,158.52
436,354.38
3,535,257.82
(196,746.23)
391,066.18
108,632.41
22,220.73
8,499.72
6.186.37
38,541.18
119,288.98
694,435.57
(194,596.25)
516,499.04
115,799.77
27,711.04
3.566.66
38,500.86
29,589.32
144,897.80
876,564.49
(613,165.44)
3,664,433.28
2,072,985.84
5,409,826.91
928,908.23
579.858.01
715,412.01
4,373,523.27
17,744,947.55
984,814.04
803,340.74
444.740.85
4.171,436.38
31,835.49
4,112.00
410,946.19
5,866,411.65
236,056.36
Nonoperating revenues (expenses)
Intergovernmental
Investment revenue
Gain from sale of asset
Interest and other charges
Issuance cost amortization
Loss from sale of asset
Total nonoperating revenues (expenses)
4,592.45
125,298.37
7,654.25
(738,355.84)
(216,408.95)
(817,21972)
146.25
120,444.25
4,490.94
(199,709.63)
(158,621.97)
(233,250.1ID.
13,594.39
20,669.70
21,791.50
(44,090.89)
(5,551.84)
(1,411.14)
5,001.72
532.22
15,723.42
(9,210.42)
7,045.22
162.49
140.40
8,631,87
(6,908.77)
2,025.99
18,495.58
267,084.94
58,291.98
(998,275.55)
(380,582.76)
(1,411.14)
(1,036,396.95)
84,330.56
39,035.68
(2,527.73)
(546.02)
(274.99)
120,017.50
Income (loss) before contributions and transfers 795,420.41 143,431.67 (191,744.51) (187,551.03) (611,139.45) (51,582.91) 356,073.86
Contributed capital -connect fee
Contributed capital -developers
Contributed capital -donations
Contributed capital· government
Transfers in
Transfers out
Change in net assets
100,221.00
92,133.56
288,376.24
2,072,059.29
!2,571,401.71)
776,808.79
376,387.56
2,287,014.48
10,377.20
(13,855,446.28)
(11,038,235.37)
13,777.00
5,500.00
(172,467.51)
12,088.90
104,892.19
(70,569.94)
24,502.50
483,101.08
(103,535.87)
100,221.00
468,521.12
25,865.90
2,599,893.22
2,675,929.76
!16,426,847.99)
(10,607,999.90)
66,537.87
(20,573.92)
402,037.81
Total net assets -beginning
Prior period adjustment
Total net assets -ending $
35,484,097.48
22,678.45
36,283,584.72
45,654,756.79
(1,757.74)
$ 34,614,763.68
1,613,079.66
1,176.87
$ 1,441,789.02
1,453,471.73
111.80
$ 1,383,013.59
2,343,982.99
749.99
$ 2,241,197.11
86,549,388.65
22,959.37
$ 75,964,348.12
6,362,429.25
8,858.68
$ 6,773,325.74
Adjustments to reflect the consolidation of internal service fund activities related to enterprise funds. 62,518.42
Change in net assets of business-type activities. $ (10.545,48.1..48)
See Accompaying Notes to Basic FinanCial Statements.
Sewer Water
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers $ 7,375,197.07 $ 6,919,386.23
Receipts from interfund services 9,525.07
Other receipts
Payments to suppliers (1,997,53U7) (4,551,907.53)
Payments for salaries and benefits (1,552,991.07) (253,379.52)
Payments for interfund services used (185,126.59) (124,724.51)
Payments made in lieu of franchise taxes (362,004.66) (341,479.38)
Remittance of taxes collected from customers (276,001.96)
Net cash provided (used) by operating activities 3,267,008.23 1,371,893.33
W ...... CASH FLOWS FROM NONCAPiTAL FINANCING ACTIVITIES
Transfers from other funds 434,380.29
Transfers to other funds (2,513,700.00)
Advance repayment to other funds
Interest paid to other funds
Subsidy from federal grant 50,229.18
Subsidy from local grant
Net cash (used) by noncapital financing (2,029,090.53)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Capital contributions 122,415.52
Principal received on promissory note
Interest received on promissory note
Proceeds from sales of capital assets 7,654.25
Proceeds from capital debt
Purchase of capital assets (140,693,90)
Acquisition and construction of capital assets (2,186,105.10)
Principal paid on capital debt (1,870,671.75)
Interest paid on capital debt (1,172,900.68)
Transfers in for capital acquisitions 12,765.00
Transfers out for capital acquisitions (57,701.71)
Transfers in for payment of capital related debt 1,624,914.00
Transfers out for payment of capital related debt
Net cash (used) by capital and related financing
activities (3,660,330.37)
5,350.25
5,350.25
8,096.12
8,488.74
13,852,090.55
(68,461.67)
(215,046.62)
(965,000.00)
(199,468.35)
10,377.20
(6,875.00)
(13,848,571.28)
(1,424,390.31)
City of Cape Girardeau
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2012
Business-type Activities -Enterprise Funds
Solid Waste Golf Course
$ 3,195,625.84
35,121.66
(1,711,566.34)
(1,086,960.99)
(345,158.52)
$ 546,956.16
750.00
(193,000.76)
(401,839.90)
(42,366.62)
87,039.65 (87,50714)
104,892.19
(26,000.00)
(7,960.88)
1,164.27
13,594.39
(19,202.22)
(28,O56.14)
(9,210.42)
---6-7,625.63
13,777.00
22,562.50 15,723.42
(192,595.77)
(34,904.41)
(176,508.06)
(56,366.82)
5,500.00
(416,535.56) 15,723.42
See Accompanying Notes to Basic Financial Statements.
Softball
Complex
Total
Proprietary
Funds
Government
Activities
Internal Service
Funds
$ 355,509.92
23,849.56
(313,571.31)
(535,726.35)
(29,589.32)
$ 18,394,675.22
44,646.73
24,599.56
(8,767,585.53)
(3,630,917.83)
(726,965.56)
(723,484.00)
(276,001.96)
$ 98,241.05
5,997,275.33
4,269.95
(4,376,046.01)
(824,355.37)
(4,995.56)
(499,527.50) 4,138,966.57 894,409.39
483,101.08
(17,467.14)
(6,908.77)
275.25
459,000.42
143.37
6,956.25
9,099.62
1,022,373.56
(2,513,700.00) (15,073.92)
(71,523.28)
(24,080.07) (237.00)
57,016.95 675.00
13,594.39
(1,516,316.45) (14,635.96)
144,432.01
15,073.92
4,197.54
63,385.16 39,035.68
13,652,090.55
(401,771.34) (511,691.91)
(2,436,056.13)
(3,012,179.81 ) (40,000.00)
(1.428,741.85) (2,850.00)
28,642.20 66,537.87
(64,576.71) (5,500.00)
1,624,914.00
(13,648,571.28)
(5,478,433.20) (435,196.90)
City of Cape Girardeau
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2012
Business-type Activities -Enterprise Funds
Government
Total Activities
Softball Proprietary Internal Service
Sewer Water Solid Waste Golf Course Complex Funds Funds
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 126,571.36 144,168.86 28,861.17 952.37 956.25 301,528.01 97,034.68
Net change in pooled investments 1,450,170.18 (202,120.42) 289,504.93 1,671.70 27,415.02 1,566,641.41 (602,554.06)
Proceeds from sales and maturities of investments
Purchase of investments
Net cash provided by Investing activities 1,576,741.54 (57,953.56) 318,386.10 2,624.07 28.371.27 1,868,169.42 (505,519.40)
Net Increase (decrease) in cash and cash
equivalents (645,611.13) (105,100.29) (32.312.03) (1,534.02) (3,056.19) (987,613.68) (60,942.89)
Balances -beginning of year 2,280,266.96 270,901.65 57,116.69 3,687.61 5,709.56 2,617,682.47 205,529.60
w
tv Prior period adjustment 5,731.25 5,731.25
Balances end of the year $ 1,440,38708 $ 165.801.36 $ 24,604.66 $ 2,153:59 $ 2,653.37 $ 1,635,600.06 $ 144,568.91
Reconciliation of operating income (loss) to net cash provided (used) by operating activities:
Operating income (loss) $ 1,612,640.13 $ 376,681.83 $ (196,746.23) $ (194,596.25) $ (613,165.44) $ 984,614.04 $ 236,056.38
Adjustments to reconcile operating income to net
.cash provided (used) by operating activities:
Depreciation expense 2,149,021.66 1,523,960.45 436,354.38 119,288.98 144,897.80 4,373,523.27 410,946.19
Changes in assets and liabilities:
Accounts payable -supplier (175,981.80) (46,540.47) (37,805.64) (1,918.61) (32,184.40) (294,230.92) 206,015.06
Accounts payable -other (4,097.79) 5,334.56 3,155.77 364.05 23,849.56 28,606.15
Salaries & benefits payable (97,465.92) (3,755.33) (35,262.27) (10,173.72) (19,227.31) (168,464.55) (21,014.63)
Customer receivables (219,076.56) (286,595.16) (83,744.24) 1,664,17 46.65 (587,705.16) (3,652.68)
Other operating receivables (1,928.19)
Prepaid expenses 2,028.53 5,238.39 887.88 195.55 (1,029.99) 7,320.38 56,311.16
Inventory (202,430.94) (1,731.31) (2,714.37) (206,676.62) 11,676.10
Net cash provided by operating activities $ 3,267,068.23 $ 1,371,893.33 $ 87,039.65 $ (87,507.14) $ (499,527.50) $ 4,138,966.57 $ 894.409.39
See Accompanying Notes to Basic FinanCial Statements.
City of Cape Girardeau
Statement of Net Assets
Fiduciary Funds
For the Year Ended June 30. 2012
w w
ASSETS
Cash and cash equivalents
Investments
Real estate taxes
Personal property taxes
Other
Interest
Total assets
LIABILITIES
Accounts payable
Salaries and benefits payable
Other liabilities
Total Liabilities
$
$
$
$
Agency
Funds
73.741.65
2.579,281.57
52,332.48
4,036.64
332.31
6,490.57
2.716,215.22
27,406.90
6,271.34
2,682,536.98
2,716.215.22
See Accompanying Notes to Basic Financial Statements.
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
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 of the 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 CGPFA board of directors consists of City officials and City Council members.
Due to the significant City influence and financial accountability, the activities of the CGPF A are blended
with the financial presentation of the City. The CGPF A executed a bond indenture for the purpose of
issuing and securing the Series 2009 Bonds. These bonds were 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. The CGPF A 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 of the Revised Statutes of Missouri. The (CGMDF) and (CGPSF) board of directors consist of
City officials and the (CGPDF) board of directors consists of Park 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 of the 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, 2012
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
2. Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net assets and the statement of activities)
report information on all of the nonfiduciary activities ofthe primary government and its component units.
The effect of interfund activity has been removed from these statements. Governmental activities, which
normally are supported by taxes and intergovernmental revenues, are reported separately from business-type
activities, which rely to a significant extent on fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or
segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a
specific function or segment. Program revenues include 1) charges to customers or applicants who
purchase, use, or directly benefit from goods, services, or privileges provided by a given function or
segment and 2) grants and contributions that are restricted to meeting the operational or capital
requirements of a particular function or segment. Taxes and other items not properly included among
program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds,
even though the latter are excluded from the government-wide financial statements. Major individual
governmental funds and major individual enterprise funds are reported as separate columns in the fund
financial statements.
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurementfocus
and the accrual basis ofaccounting, as are the proprietary fund financial statements. Revenues are recorded
when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash
flows. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by
the provider have been met. With the economic resources measurement focus, all assets and liabilities
associated with operations are reflected in the statement of net assets.
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting. Under the modified accrual basis, revenues are
recognized as soon as they are both measurable and available. Revenues are considered to be available
when they are collectible within the current period or soon enough thereafter to pay liabilities of the current
period. For this purpose, the City considers revenues to be available if they are collected within 30 days of
the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as
under accrual accounting. However, debt service expenditures, as well as expenditures related to
compensated absences and claims and judgments, are recorded only when payment is due. Those revenues
susceptible to accrual are property taxes, franchise taxes, special assessments, licenses, interest revenue, and
charges for services. Sales taxes collected and held by the state at year-end on behalf of the City, also are
recognized as revenue. Fines and permit revenues are not susceptible to accrual because, generally, they are
not measurable until received in cash. With the current financial resources measurement focus, only current
assets and current liabilities are generally included on the balance sheet.
35
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING 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 airport fund accounts for the resources used in the operation and maintenance of municipal airport
facilities.
The parks and recreation fund accounts for the resources used in the operation of park and recreational
activities.
The capital improvement sales tax -water projects fund accounts for the receipt and expenditure of a
capital improvement sales tax that was approved by voters to fund major capital improvement projects
to the City's water system.
The transportation sales tax trust fund IV accounts for the receipt and expenditure of a capital
improvement sales tax that was approved by voters for street construction and improvements.
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation -Continued
The City reports the following major proprietary funds:
The sewer fund accounts for the operation of the City's sewage treatment plant, sewage pumping
stations, and collection systems.
The water fund accounts for the operation ofthe City's water treatment plants and distribution systems.
The solid waste fund accounts for the operation of the City'S residential solid waste and recycling
programs.
The golffund accounts for the operation of the municipal golf course.
The softball complexfund accounts for the operation of the City'S softball complex, and maintenance
of the City's soccer, baseball, and softball fields.
Additionally, the City reports the following fund types:
Internal service funds account for management information systems, fleet management, employee
benefits, workers' compensation, and equipment leasing provided to other departments or agencies of
the City, on a cost reimbursement basis.
Agency funds account for the operations of the Cape Girardeau Public Library.
36
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2012
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
Private-sector standards of accounting and financial reporting issued prior to December 1, 1989, generally
are followed in both the government-wide and proprietary fund financial statements to the extent that those
standards do not conflict with or contradict guidance of the Governmental Accounting Standards Board.
Governments also have the option offollowing subsequent private-sector guidance for their business-type
activities and enterprise funds, subject to this same limitation. The City has elected not to follow subsequent
private-sector guidance.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial
statements. Exceptions to this general rule are payments-in-lieu of taxes and other charges between the
City's enterprise function and various other functions of the government. Elimination of these charges
would distort the direct costs and program revenues reported for the various functions concerned.
It is the City's policy to first use restricted net assets prior to the use of unrestricted net assets when an
expense is incurred for purposes for which both restricted and unrestricted net assets are available.
Amounts reported as program revenues include I) charges to customers or applicants for goods, services, or
privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including
special assessments. Internally dedicated resources are reported as general revenues rather than as program
revenues. Likewise, general revenues include all taxes.
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
historical cost if actual historical cost is not available. Additions are recorded at cost or, if contributed
property, at their estimated fair value at time of contribution. Repairs and maintenance are recorded as
expenses; renewals and betterments are capitalized. The sale or disposal of capital assets is recorded by
removing cost and accumulated depreciation and charging the resulting gain or loss to income.
37
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
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 of governmental activities in the statement ofactivities. 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 of Net 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 of the face amount of
bonds payable whereas issuance costs are recorded as deferred charges. The accounting treatment of bond
premiums, discounts, and issuance costs used for 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, 2012
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 each fund
based on its average equity balance in the pool.
Cash includes amounts in repurchase agreements and other short-term investments with a maturity date
within three months of the date of purchase.
Investments, with a maturity date ofone year or more at the time of purchase, are recorded at fair value. All
other cash and investments are recorded at cost or amortized cost.
10. Prepaid Items
Payments made to vendors for services that will benefit periods beyond June 30, 2012 are recorded as
prepaid items.
11. Restricted Assets
Certain proceeds of enterprise fund revenue bonds, as well as certain resources set aside for the repayment
of such bonds, are classified as restricted assets on the balance sheet because their use is limited by
applicable bond covenants. The "revenue bond construction" account is used to report those proceeds of
revenue bond issuances that are restricted for use in construction. The "revenue bond current debt service"
account is used to report resources set aside to make up potential future deficiencies in the revenue bond
current debt service account.
12. Long-Term Obligations
Only that portion of long-term obligations expected to be financed from expendable available financial
resources is reported as a fund liability of a governmental fund. Long-term liabilities expected to be
financed from proprietary fund operations are accounted for in the appropriate proprietary fund. Long-term
liabilities expected to be financed from governmental activities are accounted for in the government-wide
statement of net assets.
13. Interfund Transactions
Quasi-external transactions are accounted for as revenues, expenditures, or expenses. Transactions that
constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly
applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions
of expenditures/expenses in the fund that is reimbursed.
All other interfund transactions, except quasi-external transactions and reimbursements, are reported as
transfers. Only net transfers between governmental and business-type activities are reflected on the
government-wide statement of activities.
39
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
14. Short-Term Interfund Receivables/Payables
During the course of operations, numerous transactions occur between individual funds for goods provided
or services rendered. These receivables and payables are classified as "interfund receivables/payables" on
the governmental balance sheet and proprietary statement of net assets. Only net receivables between
governmental and business-type activities are reflected as internal balances on the government-wide
statement of net assets.
15. Advances to Other Funds
Noncurrent portions of long-term interfund loan receivables and payables are reported as advances in the
governmental balance sheet and proprietary statement of net assets. Fund balances are reserved on the
governmental balance sheet for 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 prior to April 1, 2012 with five or more years of
service and who are eligible for LAGERS retirement (Note G) or after April I ,2012 with five or more years
of service and have reached their normal retirement ages through LAGERS. Currently, seventy-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. Forthe
year ending June 30, 2012, those costs totaled $511,586.
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 (lOth) 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 were
two retiree spouses participating in the health and dental insurance programs as of June 30, 2012.
40
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE A M SUMMARY OF SIGNIFICANT 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, 2012 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 through December 18,2012, 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 available for use by all funds.
Each fund type's portion of this pool is displayed on the combined statement of assets, liabilities, and
fund balances arising from cash transactions as "Cash and Cash Equivalents" under each fund's caption.
The deposits and investments held at June 30, 2012, and reported at fair value, are as follows:
Deposits:
Demand Deposits $ 311,898
Interest Bearing Deposit Accounts 2,264,341
Total Deposits $ 2,576,239
Investments:
Negotiable Instruments $ 35,410,534
Federal Home Loan Bank 502,160
Federal National Mortgage Association 2,391,944
Federal Home Loan Mortgage Corporation 1,512,559
US Treasury Note 350,260
Total Investments $ 40.167.457
Total Deposits and Investments $ 42,743,62.6
41
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE B -DEPOSITS AND INVESTMENTS -Continued
Reconciliation to Statement of Net Assets:
$ 1,089,025Cash and Cash Equivalents
33,944,636Investments
1,413,472Restricted Cash and Cash Equivalents
3,643,540Restricted Investments
73,742Fiduciary Cash and Cash Equivalents
2,579,281Fiduciary Investments
$ 42.743,696Deposits and Investments, Statement of Net Assets
As of June 30, 2012, the City had the following investments:
Maturities Fair Value Investment
$ 35,410,534 Negotiable Instruments 07/03/2012 -06/06/2017
Federal Home Loan Bank 10/3012014 502,160
2,391,944Federal National Mortgage Assoc. 09/16/2014 -09/21/2018
Federal Home Loan Mort. Corp. 04/2312014 -08/1 0/2016 1,512,559
350,260US Treasury Note 10/3112012
$ 40,167.451Total
Custodial Credit Risk:
Deposits in financial institutions, reported as components of cash, cash equivalents, and investments,
had a bank balance of$43,267,699 at June 30, 2012, 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, 2012 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, 2012
NOTE B -DEPOSITS AND 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, 2012, 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 15,
2011, for collection during this fiscal year and were due on or before December 31. Most of the 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 $ .30181100.00 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, 2012 are as follows:
Special
General Business Public Debt
Revenue District Health Service Total
Current property tax $45,589 $3,834 $ 8,535 $ $57,958
Delinquent property tax 27,408 3,845 5,130 19 36,402
Reserve for doubtful
Property taxes (14,865) (2,782) (19) (17,666)
Net property tax receivable j58!132 $7/]79 $10~883 j7~69_4
43
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2012
NOTE D -CHANGES IN CAPITAL ASSETS
A summary ofthe capital assets for governmental activities included on the government-wide statement of
net assets for the year ended June 30, 2012 is as follows:
Balance Current Year Balance
~l,2011 Additions Deductions Depreciation* June 30, 2012*'"
Land $ 5,402,766 $ 8,729 $ 485,176 $ $ 4,926,319
Buildings 23,668,979 68,856 983,343 22,754,492
Improvements other
than buildings 11,026,806 81,875 744,779 10,363,902
Equipment 5,785,692 1,436,434 4,084 1,198,200 6,019,842
Infrastructure 116,018,659 7,197,726 4,312,609 118,903,776
Construction in progress _2,632,693 6,243,097 2,218,015
Total capital assets U64,).15,595 ~t~J1 ~16~.1 S6,346
* 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 part of the governmental activities assets included on the
government-wide Statement of Net Assets.
Following is a summary ofthe capital assets for business-type activities on the government-wide statement
of net assets for the year ended June 30, 2012:
Balance Current Year Balance
July 1,2011 Additions Deductions Depreciation June 30, 2012
Land $ 161,990 $ 485,175 $ $ $ 647,165
Buildings 2,701,428 54,368 260,161 2,495,635
Improvements other
than buildings 85,489,842 7,212,340 3,285,008 89,417,174
Equipment 4,515,275 548,038 34,279 828,354 4,200,680
Construction in progress 5,663,362 4,832,780 7,116,902
Total capital assets ~98,53L~97 $ 13,132.101 ~7,151,181 $ 4,373,523 $ 100,139,S24
44
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2012
NOTE D -CHANGES IN CAPITAL ASSETS -Continued
Depreciation expense was charged to functions as follows in the statement of activities:
Governmental Activities:
Administrative $ 443,189
Development Services 48,375
Parks and Recreation 950,868
Public Safety 750,002
Public Works 5,046,497
Total $ 7,238,931
Business-Type Activities:
Golf Course $ 119,289
Sewer 2,149,022
Softball Complex 144,898
Solid Waste 436,354
Water 1,523,960
Total $4.373.2.3.
NOTE E -LONG-TERM OBLIGATIONS
The following is a summary of changes in the long-term debt from governmental activities included on the
government-wide statement of net assets for the year ended June 30, 2012:
Governmental Other Revenue
Activities Debt* Bonds Total
Debt payable July 1,201 I $ 21,765,060 $ 16,2 I 8,078 $ 37,983,138
DiscountlPremium amortization 18,728 26,322 45,050
Retired (2,775,119) (15,306,800) (18,081,919)
Additions
Debt payable June 30, 2012 $ J9,OQ8,669 $.--.2.3 7 6()Q $ 12,946,262
*Other Dcbt includes Notes Payable, Special Obligation Bonds, Leasehold Revenue Bonds, and Certificates ofparticipation.
45
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
The following is a summary of changes in the long-term debt from business-type activities included on the
government-wide statement of net assets for the year ended June 30, 2012:
Business-Type
Activities
Other
Debt*
Revenue
Bonds Total
Bonds payable at
July 1,2011
Discount Premium
Amortization
Accumulated Interest
Bonds Retired
Bonds Issued
$ 2,020,744
(3,090)
(190,009)
$ 22,961,374
(20,571)
272,177
(3,203,000)
14,198,459
$ 24,982,118
(23,661)
272,177
(3,393,009)
14,198,459
Bonds payable at
June 30, 2012 U~!645 $ 34.208A3.2 $ 36,036,084
*Other Debt includes Notes Payable and Special Obligation Bonds
46
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E ~ LONG TERM OBLIGATIONS ~ Continued
Bonds payable for governmental and business-type activities at June 30, 2012 are comprised of the
following individual issues:
$ 155,000 Special Obligation Refunding and Improvement Bonds, Series 2002:
Year Ending Interest Principal Interest
June 30, Rate Due Due
2013 4.10% $ 155,000 $ 3,177 $ 158,177
$ 155~000 $ 3~111
Principal payments are made annually on October 1, and interest payments are made semi-annually on
October 1 and April 1.
On October 22, 2002 the City of Cape Girardeau issued $3,125,000 of Special Obligation Refunding and
Improvement Bonds Series 2002 with interest rates varying from 3.00% to 4.50%. The bonds are special
obligations of the City payable solely from the income and revenues provided for the year plus any
unencumbered balances from prior years.
The bonds were issued by the City for the purpose of providing funds to (a) pay the costs of refunding the
Building and Equipment Leasehold Refunding and Improvement Revenue Bonds, Series 1993, issued on
behalf of the City by the Cape Girardeau Public Facilities Authority and outstanding in the principal amount
of $1,085,000, (b) pay the costs of refunding the Certificates of Participation (Capital Improvements
Projects), Series 1994A, issued on behalf of the City by the Cape Girardeau Public Facilities Authority and
outstanding in the principal amount of$1 ,255,000 and prepaying the leasehold interest represented thereby,
(c) pay the costs of constructing certain street improvements within the City, and (d) pay the costs of
issuing the Bonds, under the authority of and in full compliance with the City's Charter and the Constitution
and laws of the State of Missouri, and pursuant to an ordinance duly passed (the "Ordinance") and
proceedings duly and legally had by the governing body of the City.
The outstanding bond liability for the Special Obligation Refunding and Improvement Bonds Series 2002 is
allocated as follows: $155,000 for Governmental activities.
47
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$1,705,000 Waterworks System Refunding Revenue Bonds Series 2006A due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2013 4.00% $1,705,000 $ 68,200 $1,773,200
$lf7Q5!000 $ 68!200 $1,773 1200
Principal payments are made annually on March 1, and interest payments are made semi-annually on March
1 and September 1.
On January 3, 2006 the City issued $7,160,000 of Waterworks System Refunding Revenue Bonds Series
2006A with interest rates varying from 3.5% to 4.0%. The bonds are special limited obligations 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 principal
amount of Waterworks System Refunding Revenue Bonds, Series 1995.
48
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$ 420,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1991 due as
follows:
Year Ending Interest Principal Interest
June 30, Rate Due Total
2013 6.875% $ 205,000 $ 28,875 $ 233,875
2014 6.875 215,000 14,781 229,781
-.U~Q,OOO L43~656 $ 463!656
These bonds are dated December 1, 1991. The proceeds of the bond issue were used to extend and improve
the existing sewerage facilities serving the City.
Principal payments are made annually on June 1, and interest payments are made semi-annually on June 1
and December 1.
The interest due on the Series 1991 Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from
the construction funds held by the trustee, the State of Missouri Department 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 of Missouri Department ofNatural Resources out of
the reserve fund. The balance of the reserve fund at June 30, 2012 was $210,000. 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 fiscal year ended June 30, 2012, City interest expense was
reduced by $11,806 as a result of this transaction. Over the remaining life of these bonds, the City will
receive net present value benefits of approximately $21,959 from this transaction.
49
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$ 111.000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1993 due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2013 5.400% $ 35,000 $ 5,049 $ 40,049
2014 5.400 37,000 3,106 40,106
2015 5.400 39,000 1,053 40,053
$111!000 $ 9!208 $ 120!208
These bonds are dated August 1, 1993. The proceeds of the bond issue were used to extend and improve
the existing sewerage facilities serving the City.
Principal payments are made annually on March 1, and interest payments are made semi·annually on March
1 and September 1.
The interest due on the Series 1993 Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from
the construction funds held by the trustee, the State of Missouri Department 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 of the
reserve fund. The balance of the reserve fund at June 30, 2012 was $77,700. The reserve fund yields
5.15%.
50
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$ 1,523,558 Water Pollution Control Revenue Bonds (State Revolving Fund Program) Series 19950
due as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2013
2014
2015
2016
2017
6.150%
6.200
6.200
6.250
6.250
$ 354,978
326,281
303,920
278,844
259,535
$ 670,022
683,719
696,080
706,156
715,465
$ 1,025,000
1,010,000
1,000,000
985,000
975,000
W73.S58 L3~4:Z1A42 $4!995 I OOO
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 ofNatural Resources deposits
an amount equal to 70% of the disbursement into the reserve fund. The maximum amount of funds that
will be advanced to the reserve fund will be 70% of the principal amount less the original issue discount.
As bonds are retired 70% of the amount of bonds retired will be repaid to the State of Missouri Department
of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30, 2012 was
$1,060,490. The reserve fund yields 5.83%.
51
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$ 6,180,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1996 due as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2013
2014
2015
2016
2017
2018
2019
5.875%
5.875
5.875
5.900
5.900
5.900
5.900
$ 780,000
800,000
875,000
895,000
920,000
945,000
965,000
$ 364,006
318,181
271,181
219,775
166,970
112,690
56,935
$ 1,144,006
1,118,181
1,146,181
1,114,775
1,086,970
1,057,690
1,021,935
~J80~000 $1 1509 1 738 $ 7~9!738
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 1. Interest is paid semi-annually on January 1 and July 1
beginning in 1997.
The interest due on the Series 1996 Sewerage System Revenue Bonds is subsidized by interest earnings on
a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures
from the construction funds, the State of Missouri Department of Natural Resources deposits an amount
equal to 70% of the disbursement into the reserve fund. The maximum amount of funds that will be
advanced to the reserve will be $9,474,500. As bonds are retired, 70% ofthe amount of bonds retired will
be repaid to the Department of Natural Resources out of the reserve fund. The balance ofthe reserve fund
at June 30, 2012 was $4,326,000. The reserve fund yields 5.70%.
52
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
During the fiscal year ended June 30, 2001, certain bonds originally issued by the State Environmental
Improvement and Energy Resources Authority as part of the State Revolving Fund Progran: were refund~d.
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 30,2012, City interest expe~se w~
reduced by $22,810 as a result of this transaction. Over the remaining life of these bonds, the CIty WIll
receive net present value benefits of approximately $102,868 from this transaction.
$ 7,240,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 2000 due as
follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2013
2014
2015
2016
2017
2018
2019
2020
2021
5.500%
5.000
5.625
5.625
5.625
5.300
5,400
5,450
5.500
$ 230,000
250,000
275,000
475,000
555,000
590,000
1,590,000
1,655,000
1,620,000
$ 388,659
376,084
362,099
341,006
312,037
280,793
222,228
134,199
_44,550
$ 618,659
626,084
637,099
816,006
867,037
870,793
1,812,228
1,789,199
1,664,550
$7,240,000 $2A61!655 $ 9)01!655
These bonds are dated November 1,2000. The proceeds ofthe bond issue were used to extend and improve
the existing sewerage facilities serving the City.
Principal payments are made annually on July 1, and interest payments are made semi-armually on July I
and January 1.
The interest due on the Series 2000, Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from
the construction funds held by the trustee, the State ofMissouri 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 $5,848,500. As bonds are retired 70% of the
amount of bonds retired will be repaid to the State of Missouri Department of Natural Resources out ofthe
reserve fund. The balance of the reserve fund at June 30, 2012 was $5,109,033.The reserve fund yields
5.16%.
53
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$15,265,000 Waterworks System Revenue Bonds (State Revolving Fund Program) Series 1998
These bonds were dated December 1, 1998. The proceeds ofthe bond issue were used for the extension and
improvements to the waterworks system.
Principal payments are made annually on January 1. Interest is paid semi-annually on January 1 and July 1
beginning on July 1, 1999.
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 ofNatura1 Resources deposits an amount equal to
33 Al % ofthe 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 ofthe reserve fund. During the year ended June 30, 2012, these
bonds were refinanced through the proceeds of the Waterworks System Refunding Bonds Series 2012A.
The balance of the reserve fund at June 30, 2012 was $-0-.
54
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$14,365,000 Leasehold Revenue Bonds, Series 2009 due as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2013
2014
2015
2016
2017
2018
2019
3.700%
3.800
3.900
4.000
4.000
4.000
4.100
$ 1,955,000
2,015,000
2,080,000
2,150,000
2,240,000
2,330,000
1,595,000
$ 531,532
472,882
407,394
334,594
248,594
158,994
65,794
$2,486,532
2,487,882
2,487,394
2,484,594
2,488,594
2,488,994
1,660,794
$14 1365 1000 $21219)84 $16~5841784
The bonds are obligations of the Cape Girardeau (Missouri) Public Facilities Authority (CGPF A). 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 1, and interest payments are made semi-annually on April!
and October 1.
55
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$3,755;000 Special Obligation Bonds, Series 2005:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2013 3.625% $ 700,000 $ 162,711 $ 862,711
2014 4.000 690,000 137,336 827,336
2015 5.000 1,245,000 109,736 1,354,736
2016 4.000 80,000 47,486 127,486
2017 4.000 85,000 44,286 129,286
2018 4.100 90,000 40,886 130,886
2019 4.125 90,000 37,196 127,196
2020 4.200 95,000 33,484 128,484
2021 4.250 100,000 29,494 129,494
2022 4.250 105,000 25,244 130,244
2023 4.375 110,000 20,781 130,781
2024 4.375 115,000 15,969 130,969
2025 4.375 250,000 10,940 260.940
$3 1755 1000 $4!470,549
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 of providing funds to (a) construct, furnish, and equip a
new fire station, renovate and improve existing fire and police stations, reimburse the City for the
purchase of a new public works facility, and acquire vehicles for the police and fire departments, (b)
refinance various outstanding obligations of the City, (c) fund a debt service reserve fund for the Bonds,
and (d) pay the costs of issuing the Bonds, under the authority of and in full compliance with the City's
Charter and the Constitution and laws of the State of Missouri, and pursuant to an ordinance duly passed
and proceedings duly and legally had by the governing body of the City.
56
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG· TERM OBLIGATIONS -Continued
$1,350,000 Bank of America 2006 Promissory Note:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2013 0.9935% $ 100,000 $ 13,166 $ 113,166
2014 0.9935 100,000 12,172 112,172
2015 0.9935 100,000 11 ,179 111,179
2016 0.9935 100,000 10,213 110,213
2017 0.9935 100,000 9,192 109,192
2018 0.9935 100,000 8,198 108,198
2019 0.9935 100,000 7,205 107,205
2020 0.9935 100,000 6,227 106,227
2021 0.9935 100,000 5,218 105,218
2022 0.9935 100,000 4,225 104,225
2023 0.9935 100,000 3,239 103,239
2024 0.9935 100,000 2,237 102,237
2025 0.9935 100,000 1,244 101,244
2026 0.9935 50,000 250 50,250
UJ~O,OOO $ 93,965 $ 1,443,965
On February 9,2006, the City of Cape Girardeau entered into a promissory note with the Bank of America
for $2,000,000. The purpose of the note was to finance additional costs on constructing fire station #3,
purchase of a site for a future fire station, equipment for the sewer and solid waste funds, and site
improvements at the new public works headquarter. The outstanding liability for the note is allocated as
follows: $539,891 for governmental activities and $810,109 for business-type activities.
Principal payments of $50,000 are made semi-annually on January 1 and July 1. The principal payments
are amortized over 20 years. The City may prepay the note at any time with no additional charges. Interest
accrues at a variable rate equal to the sum ofthe 30-day LIBORmultiplied by 60.938%, plus 0.813%. The
rate at June 30, 2012 was 0.9935%.
57
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$937,600 Waterworks Revenue Bonds, Series 2010 due as follows:
Year Ending Interest Principal Interest Admin Fee
June 30, Rate Due Due Due Total
2013 1.4900% $ 42,800 $ 13,812 $ 4,635 $ 61,247
2014 1.4900 43,800 13,170 4,419 61,389
2015 1.4900 44,700 12,514 4,199 61,413
2016 1.4900 45,700 11,845 3,975 61,520
2017 1.4900 46,800 11,159 3,745 61,704
2018 1.4900 47,900 10,458 3,510 61,868
2019 1.4900 48,900 9,741 3,269 61,910
2020 1.4900 50,100 9,008 3,023 62,131
2021 1.4900 51,100 8,258 2,771 62,129
2022 1.4900 52,300 7,492 2,514 62,306
2023 1.4900 53,500 6,708 2,251 62,459
2024 1.4900 54,700 5,906 1,982 62,588
2025 1.4900 55,900 5,087 1,707 62,694
2026 1.4900 57,200 4,249 1,426 62,875
2027 1.4900 58,500 3,392 1,138 63,030
2028 1.4900 59,900 2,515 844 63,259
2029 1.4900 61,200 1,618 543 63,361
2030 1.4900 62,600 701 235 63,536
$. 93u.oo $.. 137,633 $ .42Jj2 $ 1.12h419
These bonds are dated January 1, 2010. The proceeds of the bond issue were 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, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$1 ,0 1 0,000 Special Obligation Bonds, Series 201 OA due as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due Total
2013
2014
2015
2016
2017
2018
3.000%
3.000
3.000
2.625
3.000
3.375
$ 140,000
150,000
160,000
175,000
185,000
200,000
$ 30,394
26,194
21,694
16,894
12,300
6,750
$ 170,394
176,194
181,694
191,894
197,300
206,750
$ 12010!000 $ 114!226 $ 1,124)26
On March 1,2010, the City issued $1,275,000 of Special Obligation Bonds Series 201 OA 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 1.
59
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$13,955,000 Waterworks System Refunding Revenue Bonds Series 2012A due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2013 2.000% $ 655,000 $ 316,464 $ 971,464
2014 2.000 535,000 435,432 970,432
2015 2.000 545,000 424,732 969,732
2016 2.000 555,000 413,831 968,831
2017 3.000 570,000 402,731 972,731
2018 3.000 585,000 385,631 970,631
2019 3.000 605,000 368,081 973,081
2020 4.000 620,000 349,931 969,931
2021 3.000 645,000 325,131 970,131
2022 3.000 665,000 305,781 970,781
2023 3.000 685,000 285,831 970,831
2024 3.125 705,000 265,281 970,281
2025 3.250 725,000 243,250 968,250
2026 3.375 750,000 219,688 969,688
2027 3.500 775,000 194,375 969,375
2028 3.625 805,000 167,250 972,250
2029 3.625 835,000 138,069 973,069
2030 4.000 865,000 107,800 972,800
2031 4.000 895,000 73,200 968,200
2032 4.000 935,000 37,400 972,400
$13,955,000 $ 5 1459 2889 $19,4141882
On April 17,2012 the City issued $13,955,000 of Refunding Revenue Bonds. The proceeds were used to
refund the outstanding Series 1998 Bonds.
The Bonds were issued with interest varying from 2.0% to 4.0%. Principal and interest will be paid by the
City from the revenues derived from the operation of the waterworks system.
Principal payments are made annually on January 1. Interest payments are made semi-annually on January
1 and July 1.
60
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
$31 ,OOQ,OOO Sewerage S;::stem Revenue Bonds (State of Missouri -Direct Loan Program) Series 2012 due
as follows:
Year Ending
June 30,
Interest
Rate
Principal
Due
Interest
Due
Admin
Total
2013 1.430% $ $ 236,427 $ $ 236,427
2014 1.430 443,300 443,300
2015 1.430 443,300 443,300
2016 1.430 1,256,000 438,838 306,880 2,001,718
2017 1.430 1,288,000 420,763 294,240 2,003,003
2018 1.430 1,319,000 402,237 281,285 2,002,522
2019 1.430 1,352,000 383,255 268,010 2,003,265
2020 1.430 1,385,000 363,806 254,410 2,003,216
2021 1.430 1,419,000 343,879 240,475 2,003,354
2022 1.430 1,455,000 323,459 226,195 2,004,654
2023 1.430 1,491,000 302,524 211,555 2,005,079
2024 1.430 1,527,000 281,074 196,555 2,004,629
2025 1.430 1,565,000 259,102 181,190 2,005,292
2026 1.430 1,604,000 236,586 165,445 2,006,031
2027 1.430 1,644,000 213,506 149,305 2,006,811
2028 1.430 1,684,000 189,854 132,765 2,006,619
2029 1.430 1,726,000 165,622 115,820 2,007,442
2030 1.430 1,769,000 140,791 98,455 2,008,246
2031 1.430 1,813,000 115,337 80,655 2,008,992
2032 1.430 1,857,000 89,253 62,415 2,008,668
2033 1.430 1,904,000 62,534 43,730 2,010,264
2034 1.430 1,950,000 35,142 24,575 2,009,717
2035 1.430 992,000 7,093 4,960 1,004,053
LliIOOOIOOO ~ 5~8972682 $ 3!338 1920 $ 40 1236 1602
Sewerage System Revenue Bonds through the State of Missouri -Direct Loan Programs were issued by the
City on June 19, 2012. There is a 1 % administrative fee charged on this loan along with the 1.43% interest
rate. Principal is disbursed on this loan as needed. At the end of June 30, 2012 only $199,000 in principal
had been disbursed. The disbursement was used to pay issuance costs of the loan.
The proceeds ofthe bond issue will be used to acquire, construct, extend and improve the existing sewerage
system.
Principal payments are made annually on July 1; while interest payments are made semi-annually on
January 1 and July 1.
61
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE E -LONG-TERM OBLIGATIONS -Continued
The annual requirements to amortize all debt outstanding as of June 30, 2012 including total interest
payments of $22,205,804 are as follows:
Special
Year Ending Obligation
June 30, Bonds
2013 $ 1,191,282
2014 1,003,530
2015 1,536,430
2016 319,380
2017 326,586
2018 337,636
2019 127,196
2020 128,484
2021 129,494
2022 130,244
2023 130,781
2024 130,969
2025 260,940
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
Revenue
Bonds
$ 6,103,927
4,499,273
4,297,778
5,947,850
5,966,445
4,963,504
5,872,419
4,824,477
4,700,164
3,037,741
3,038,369
3,037,498
3,036,236
3,038,594
3,039,216
3,042,128
3,043,872
3,044,582
2,977,192
2,981,068
2,010,264
2,009,717
1,004,053
$~752,952 $ 85,516,367
Leasehold
Revenue Promissory
Bonds Note
$2,486,532 $ 113,166
2,487,882 112,172
2,487,394 111,179
2,484,594 110,213
2,488,594 109,192
2,488,994 108,198
1,660,794 107,205
106,227
105,218
104,225
103,239
102,237
101,244
50,250
Total
$ 9,894,907
8,102,857
8,432,781
8,862,037
8,890,817
7,898,332
7,767,614
5,059,188
4,934,876
3,272,210
3,272,389
3,270,704
3,398,420
3,088,844
3,039,216
3,042,128
3,043,872
3,044,582
2,977,192
2,981,068
2,010,264
2,009,717
1,004,053
$16,?~784 $ lJ3)~5 $109.298,068
The cash and investments available to service revenue bonds are $56,787 and $2,702,333 for the
governmental and business-type activities, respectively.
The cash and investments available to service the special obligation bonds are $753,850 and $11,365 in
governmental activities and business-type activities, respectively.
62
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
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 $1,440,995
Total $1,440,995
Business-Type Activities:
Golf Course $ 9,210
Sewer 738,356
Softball Complex 6,909
Solid Waste 44,091
Water 199,710
Total $ 998ctlli
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 $27,333,469.
NOTE F -DEFICIT FUND BALANCES/RETAINED EARNINGS
There were no fund's total liabilities that exceeded their total assets.
63
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE G -PENSION PLAN
1. Plan Description
The City of Cape Girardeau participates in the Missouri Local Government Employees Retirement System
(LAGERS), an agent multiple-employer public employee retirement system that acts as a common
investment and administrative agent for local government entities in Missouri. LAGERS is a defined
benefit pension plan which provides retirement, disability, and death benefits to plan members and
beneficiaries.
LAGERS was created and governed by statute Section RSMo. 70.600 -70.755. As such, it is the system's
responsibility to administer the law in accordance with the expressed intent of the General Assembly. The
plan is qualified under the Internal Revenue Code Section 401(a) and it is tax exempt.
The Missouri Local 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 30 th
statutorily required contribution rates are 8.1 % (General), 8.9% (Police) and 13.3% (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 (NPO)
The subdivision's annual pension cost and net pension obligation for the current year were as follows:
Annual required contribution $1,562,286
Interest on net pension obligation 27,354
Adjustment to annual required contribution (20,815)
Annual pension cost 1,568,825
Actual contributions 1,342,004
Increase (decrease) in NPO 226,821
NPO beginning of year 377,291
NPO end of year $ _ 6~112
The annual required contribution (ARC) was determined as part ofthe February 28,2010 annual actuarial
valuation using the entry age actuarial cost method. The actuarial assumptions as of February 28, 2012
included: (a) a rate ofretum on the investment of present and future assets of7.25% per year, compounded
annually, (b) projected salary increases of3.5% 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,
64
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE G -PENSION PLAN -Continued
attributable to seniority/merit, (d) pre-retirement mortality based on 75% ofthe RP-2000 Combined Healthy
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 smooth the effects of short-term volatility in the
market value of investments over a five-year period. The unfunded actuarial accrued liability is being
amortized as a level percentage of projected payroll on an open basis. The amortization period at February
28,2010 was 30 years for the General division, 30 years for the Police division and 30 years for the Fire
division.
Three-Y ear Trend Information
Year
Ended
June 30
Annual
Pension
Cost (APC)
Percentage
ofAPC
Contributed
Net
Pension
Obligation
2010
2011
2012
1,033,703
1,533,704
1,568,825
100.0%
75.4%
85.5%
0
377,291
604,112
Note: The above assets and actuarial accrued liability do not include the assets and present value of
benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The actuarial
assumptions were changed in conjunction with the February 28,2011 annual actuarial valuations. For a
complete description of the actuarial assumptions used in the annual valuations, please contact the
LAGERS office in Jefferson City.
65
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE H -POSTRETIREMENT HEALTHCARE 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$2,365,807 and $881,028, 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
eligible 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 eligible former employees as previously
described. Specific details of the Plan include the provision of certain medical and dental coverage. These
benefits are provided through the City's self insured programs. The City is under no statutory or contractual
obligation to provide these postretirement healthcare benefits. Because the Plan consists solely ofthe City's
firm commitment to provide OPEB through the payment ofpremiums to its selfinsured programs 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 for its governmental and business-type funds. Effective April 1,2012 employees
who retire early (prior to age 55 for police and fire and prior to age 60 for all other city employees) are not
eligible for retiree healthcare coverage. For the year ended June 30, 2012, the City paid the full premium
cost for eligible retired employees who were hired prior to January 1,2007. For eligible employees hired
on/after January 1, 2007, the City paid a percentage of the full premium cost for retired employees with
single coverage according to years of service at retirement. For employees with 10 to 14 years of service at
retirement the City's subsidy was 50%. The subsidy for employees with 15 to 19 years of service was 60%;
20 to 24 years was 70%, and employees with more than 24 years of service at retirement received 100%
subsidy. The retiree is responsible for the full cost of dependent coverage. The plan is financed on a pay
as-you-go basis.
3. Annual OPEB Cost and Net OPEB Obligation
The City's annual OPEB cost is calculated based on the annual required contribution (ARC) of the City, an
amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year
and amortize any unfunded actuarial liabilities (or funding excess) over a period 000 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:
66
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE H -POSTRETIREMENT HEAL THCARE BENEFITS -Continued
2011 2012
Annual required contribution $ 1,253,595 $ 881,028
Interest on net OPEB obligation 75,609 100,214
Adjustment to annual required contribution (103,150) (136,717)
Annual OPEB cost $ 1,226,054 $ 844,525
Contributions made (679,271) (705,699)
Increase in net OPEB obligation $ 546,783 $ 138,826
Net OPEB obligation, July 1 1,680,198 2,226,981
Net OPEB obligation, June 30 Lb,226.981 $ 2.365,807
The City'S annual OPEB cost, the percentage of annual OPEB cost contributed to the Plan, and the net
OPEB obligation for 2012 were as follows:
Percentage of Net OPEB
Fiscal Year Annual AnnualOPEB Obligation
Ended OPEB Cost Cost Contributed End of Year
6/30112 $ 844,525 83.6% $ 2,365,807
6/30111 1,226,054 55.4% 2,226,981
6/3011 0 1,339,923 44.0% 1,680,198
4. Funding Status and Funding Progress
As of July 1, 2011, the most recent actuarial valuation date, the Plan was not funded. The actuarial accrued
liability for benefits equaled $9,242,557, resulting in an unfunded actuarial accrued liability (UAAL) of
$9,242,557. The covered payroll (annual payroll of active employees covered by the Plan) equaled
$14,275,595, and the ratio of the VAAL to the covered payroll equaled 64.7%.
Actuarial valuations of an ongoing plan involve estimates ofthe value ofreported amounts and assumptions
about the probability of occurrence of events far into the future. Examples include assumptions about
future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded
status of the Plan and the annual required contributions of the employer are subject to continual revision as
actual results are compared with past expectations and new estimates are made about the future.
The schedule of funding progress 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, information relative to Plan asset required disclosures
is not applicable.
67
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2012
NOTE H -POSTRETIREMENT HEALTH CARE 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 of return 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 $1,669,842, excluding $4,325 of interfund interest, was incurred by
governmental funds during the year ended June 30,2012. Interest and handling charges, totaling $976,486
excluding $24,317 of interfund interest, was incurred by proprietary funds during the year ended June 30,
2012. No interest cost was capitalized as part of the cost of assets constructed during the period.
NOTE J -INTERFUND ACTIVITY
A. The following is a summary of interfund balances as of June 30, 2012:
Advance to/from other funds:
Advances from Advances to
General Fund
Solid Waste Fund
Golf Course Fund
Softball Complex Fund
$ 844,919 $
556,818
163,080
125,021
L844,919 L 811.919
The interfund balances are a result ofadvances 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.
68
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2012
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 30,2012:
General Fund
Airport Fund
Park and Recreation Fund
Vision 2000
Housing Development Fund
Motor Fuel Tax Fund
Capital Improvement Sales Tax
Flood Control
Transfer From
$ 4,156,971
11
1,320,000
43,510
$
Transfer To
4,791,917
527,563
944,843
37,631
Water System Improvements
Sewer System Improvements
Transportation Sales Tax Trust II
Fire Sales Tax Fund
Public Safety Trust Fund
Transportation Sales Tax Trust III
Park/Storm Water Sales Tax
Park/Storm Water Sales Tax-Capital
Transportation Sales Tax Trust IV
Casino Revenue Fund
Park Improvements Fund
Community Development Block
Grant Project Fund
Water System Improvement
Projects Fund
Storm Water Projects from
Storm Water Tax
Park Improvement Projects from
Park Sales Tax
Sewer Fund
Water Fund
Solid Waste Fund
Golf Course Fund
Softball Complex Fund
Information Technology Fund
Fleet Management Fund
Equipment Replacement Fund
1,624,914
32,663
2,273,970
1,267,719
1,050,759
489,607
260,000
80
145,145
382,724
2,571,402
13,855,446
15,074
5,500
15,248,652
1,113,700
2,273,970
382,663
305,397
135,000
260,000
21,327
1,109
284,882
424,374
2,072,059
10,377
5,500
104,892
483,101
56,000
10,538
$ 29,4.25..422
69
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
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 30,2012 was as follows:
Softball
Sewer Water Solid Waste Golf Course Complex Total
Fund Fund Fund Fund Fund Enterprise
Operating revenues $ 7,665,103 $ 6,962,909 $3,338,512 $ 499,839 $ 263,399 $18,729,762
Depreciation 2,149,022 \,523,960 436,354 119,289 144,898 4,373,523
Operating Income (Loss) 1,612,640 376,682 (196,746) ( 194,596) (613,166) 984,814
Operating transfers in 2,072,059 10,378 5,500 104,892 483,101 2,675,930
Net Income (Loss) 776,809 (11,038,235) (172,468) (70,570) (103,536) (10,608,000)
Current Capital Contributions 480,730 2,663,402 13,777 12,089 24,503 3,194,501
Property, Plant and Equipment
Additions 2,939,951 2,641,290 244,783 23,422 48,044 5,897,490
Deletions 83,249 65,908 214,281 34,015 11,500 408,953
Net Working Capital (40,945) 4,066,217 1,083,852 (1,774) (6,542) 5,100,808
Total Assets 55,745,767 51,315,600 4,003,156 1,640,127 2,484,080 115,188,730
Current Liabilities 2,949,300 3,335,084 406,250 62,304 108,180 6,861,118
Long-Term Liabilities 16,512,882 13,365,752 1,598,299 31,730 9,682 31,518,345
Amounts payable to other funds 556,818 163,080 125,021 844,919
Total Liabilities 19,462,182 16,700,836 2,561,367 257,114 242,883 39,224,382
Total Net Assets $36,283,585 $ 34,614,764 $1,441,789 $ 1,383,013 $2,241,197 $75,964,348
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 cannot 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$2,100 that are legally restricted to provide for
the perpetual care and maintenance of a mausoleum in the City's cemetery. Only interest earnings on this
amount can be used for mausoleum maintenance. Prepaid expenses of $156,380 and long-term advance
receivables of $844,919 are also reflected as non-spendable fund balances.
70
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE L -GOVERNMENTAL FUND BALANCES REPORTING -continued
Restricted Fund Balance -Includes amounts that can be spent only for specific purposes because of
restrictions by external parties, constitutional provisions or enabling legislation. These financial statements
include the following restricted fund balances. Fund balances totaling $4,580,005 are restricted by the City
Charter to use during officially declared emergencies. Special revenue fund balances totaling $14,528,702
are restricted by their enabling legislation. $1,434,206 in capital project fund balances are restricted as the
result of special revenue transfers and unspent bond proceeds. The remaining $216,199 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 of the City's highest level of decision-making authority (the City Council). Those
amounts cannot be used for any other purpose unless the government 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 government's intent to be used for specific
purposes, but are neither restricted nor committed. For all governmental 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 Fund Balance -For the general fund, amounts not classified as nonspendable, restricted,
committed or assigned are included here. For all other governmental funds, it is the amount expended in
excess of resources that are nonspendable, 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 of fund balance that
is identified.
71
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE L -FUND BALANCE REPORTING -Continued
Fund balances
Nonspendable:
Prepaid expenses
Long-term advance
Mausoleum
Restricted for:
Mausoleum
Emergencies
Local access channel
Convention and tourism
River campus bonds
Community development
Public safety
Street projects
Water system projects
Sewer system projects
Parks and recreation
Park and storm water projects
Other capital projects
Assigned to:
Airport
Parks and recreation
Operations and maintenance
Encumbrances
Debt service
Other projects
Public safety
Parks and recreation
Other capital projects
Community development
Street projects
Unassigned:
General
Fund
$ 124,418
844,919
2,100
90,169
3,930,688
45
118,796
3,114,973
~ 8,226,108
Major
S[!ecial Revenue Funds
Parks and Transportation
Airport Recreation Sales Tax
Fund Fund Tru~t FunlllIl
$ 15,859 $ 2,763 $
2,798,983
146,912
366,395
17,455
--~$ 38MJl $2Z2828J
Major
Park
Projects
from Parks
Sales Tal
$
3,062,238
tJ,062,238
$
Other
Funds
13,340
649,317
209,990
125,985
51,829
646,500
3,707,922
118,798
2,879,012
365,716
1,735,631
386,289
19,411
252,939
889,523
381,998
193,467
8,848
70,212
!l!!!!
$ 156,380
844,919
2,100
90,169
4,580,005
45
209,990
125,985
51,829
646,500
6,770,160
2,917,781
2,879,012
365,716
1,735,631
386,289
146,912
366,395
17,455
118,796
19,411
252,939
889,523
381,998
193,467
8,848
70,212
3,114,973
$ 21. 3~3 HQ
72
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE M -RESERVED RETAINED EARNINGS AND RESTRICTED ASSET ACCOUNTS
At June 30, 2012, the City has restricted assets in its Proprietary Funds as follows:
Depreciation
and
Replacement
Bond
Construction
Revenue Bond
Sinking and
Reserve Fund Total
Sewer Fund
Water Fund
Solid Waste Fund
$ 127,000
150,000
t-277.000
$
4,616
3,194
$ 1,810
$1,399,439
1,327,969
863
$2,128,211
$ 1,526,439
1,482,585
4,057
$ 3,Q13,Q81
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 $39,000 as of June 30, 2012, which is based on the
amount that would be paid if all equipment, facilities, and services required to close, monitor, and maintain
the landfill were acquired as ofJune 30, 2012. However, the actual cost of closure and postclosure care may
be higher due to inflation, changes in technology, or changes in landfill laws and regulations.
The City has used the option of a Contract of Obligation as the financial assurance instrument for the
landfill. The City issued bonds in October 1994 from which the proceeds were used to pay the closure costs.
73
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30,2012
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 of the Missouri Public Entity Risk Management Fund, a not-for-profit public entity
insurance pool established by the state legislature. Through this pool, the City receives coverage for general
liability, law enforcement liability, errors and omissions, and employment practice liability. Risks for these
coverages are spread across members ofthe fund. Currently the fund is comprised of862 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 thirteen 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
AM. Best.
Airport liability is carried by Catlin Insurance Company. It is rated "A" by AM. Best.
Property insurance is carried by Chubb Group ofInsurance Companies. It is rated "A++" by AM. Best.
Equipment coverage is carried by Travelers Property Casualty Company of America. It is rated "A+" by
AM. Best.
The City has established self-insurance plans for employees' health insurance and workers' compensation.
Both of these are accounted for using internal service funds. Under each plan, the City is substantially self
insured and uses an administrator to handle claims management.
The City provided health coverage to its employees through a minimum premium plan administered by
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 $2,800,000 and $3,000,000 annually beginning
January 1, 2011 and 2012, 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 93.5% and 93.5% of the aggregate stop
loss amount for fiscal years ending June 30, 2011 and 2012 respectively.
74
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
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. All 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 & H and $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 LIABILITIES RECONCILIATION
Health Workers'
Insurance Compensation
Balance June 30, 2007
Provision for Incurred Claims
Payment of Claims
$ 645,750
1,812,199
(2,346,449)
$ 670,000
6,009
(406,009)
$ 1,315,750
1,818,208
(2,752,458)
Balance June 30, 2008
Provision for Incurred Claims
Payment of Claims
$ 111,500
1,860,053
(1,773,053)
$ 270,000
523,905
(363,905)
$ 381,500
2,383,958
(2.136,958)
Balance June 30, 2009
Provision for Incurred Claims
Payment of Claims
$ 198,500
1,843,651
(1,911,151)
$ 430,000
583,662
(493,662)
$ 628,500
2,427,313
(2,404,813)
Balance June 30, 2010
Provision for Incurred Claims
Payment of Claims
$ 131,000
2,238,055
(2,171,055)
$ 520,000
106,108
(526,108)
$ 651,000
2,344,163
(2,697 ,163)
Balance June 30, 2011
Provision for Incurred Claims
Payment of Claims
Balance June 30, 2012
$
$
198,000
2,847,800
(2~820~300)
225,500
$ 100,000
436,715
(251~715)
:& 285~000
$ 298,000
3,284,515
(3~072~0 15)
1 5IQ,500
75
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE P -CONCENTRATION OF CREDIT RISKfBAD DEBT ALLOWANCE
The City has uncollateralized 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 30,2012, utility receivables totaled $2,928,035. On the financial statements, the utility receivables
are shown net ofthe allowance for doubtful accounts of$170,405. This results in net utility receivable of
$2,757,630. During the year ended June 30, 2012, the allowance was increased by $121,077 or
approximately .69% of the current year's utility charges and accounts totaling $44,807 were written off.
NOTE Q -COMMITMENTS AND CONTINGENCIES
1. Litigation
Various claims and lawsuits are pending against the City. In the opinion ofCity 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 ofthe
Federal and State agencies for expenditures disallowed under the tenus 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, 2012, the City had construction commitments outstanding of$4,968,0 12. The construction
commitments represent incomplete portions of contracts entered into to construct the following: various
street projects, trail construction, 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, 2012, the City had encumbrances outstanding of $8,240,00 1.
76
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE R -PRIOR PERIOD ADJUSTMENTS
The net assets of the governmental funds have been decreased by $60,715 as of June 30, 2012 while the net
assets for the business type activities increased by $22,959. This is mainly due to a market value
adjustment of investment balances among the funds. The Parks and Recreation Fund also had a material
prior period adjustment in the amount of $33,064 which was due to a correction in a prior period salary
accrual. The sewer and water funds were materially adjusted by construction in progress projects that were
not constructed. In addition to these amounts, there were immaterial adjustments made to the funds which
are included in the above totals. These material adjustments are detailed in the table below.
Governmental Activities
Market Value
Adjustment
Salary
Accrual
Construction
in Progress
General
Airport
Park
Capital Improvement Sales Tax
Water System Improvement
Transportation Sales Tax Trust Fund
All Other Governmental Funds
Internal Service Funds
IV
$ 19,947
(543)
6,034
(2,437)
11,482
(69,202)
8,859
$ -0
-0
33,064
-0
-0
-0
$ -0
-0
-0
-0
-0
-0
-0
Total Governmental Activities $ -0
Business Type Activities
Sewer
Water
Solid Waste
Golf
Softball
$ 12,788
25,624
1,177
112
750
$ -0
-0
-0
-0
$ 9,890
(23,158)
-0
-0
-0
Total Business Type Activities $ (13,2681
NOTE S -CONTINGENCY
1. In June 2004, the City of Cape Girardeau and Cape Girardeau County entered into a development
agreement with a local business. Under the agreement, the local business agreed to pay for certain
public improvements incurred in conjunction with the construction of a new retail facility and the
City and County agreed to reimburse the local business for the cost of these improvements up to a
maximum of $4,000,000 over an estimated 15 years. The local business has completed these
improvements with a total cost of$2,668,646. The City is required by the development agreement to
reimburse the local business for $2,134,917 of these costs through scheduled quarterly payments
77
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE S -CONTINGENCY -Continued
over the next fifteen years from available revenues. Available revenues are defined in the
development agreement as 75% of the City's quarterly net revenues from specific sales taxes
generated by the business operations of the new retail facility which exceed $64,000. The rates of
the specified sales taxes currently equal 2%. Sales taxes with rates currently equal to 1 % will expire
during the term of this agreement. The City will be required to substitute revenues for sales taxes
with equivalent rates, if available, when the specific sales taxes expire.
Required quarterly payments increase annually per the repayment schedule included in the
development agreement. To the extent that the available revenues for any quarter are less than the
required quarterly payment due, the unpaid amount will be added to the next scheduled quarterly
amount due 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 of the
agreement will not be required to be paid. The term of the developer agreement is 20 years from the
execution of the agreement.
During the fiscal year ended June 30, 2012, 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% of the net sales tax revenue generated by a
.50% County sales tax. All City sales taxes have expiration date that could occur before the total
costs of the improvements are reimbursed to the developer. The County sales tax has no expiration
date. No provision is made to replace revenues from the City sales taxes that expire if they are not
extended. The development agreement remains in effect until the total cost of the public
improvements is reimbursed to the developer.
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, 2012, the City incurred payments of $132,306 under the development
agreement. This amount is included in the Development Services expenses on the statement of
activities.
78
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE S -CONTINGENCY -Continued
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.
This project involves the conversion of the former 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 1 % sales tax. Improvements to the redevelopment
project will receive 100% real estate tax abatement for the first 10 years and 50% real estate tax
abatement for the next 15 years. The current Sears facility will receive 50% real estate tax
abatement for 25 years. Based on 2006 assessed values the abatement of City taxes on the
unimproved Sears facility would be $627.53.
Beginning in year six of the 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 30,2012, the City incurred payments of$35,522 under the development
agreement. This amount is included in the Development Services expenses on the Statement of
Activities.
4. In May 2011, the City of Cape Girardeau entered into a development agreement with a local real
. estate developer. Under this agreement, the local developer agreed to pay for certain public
improvements incurred in conjunction with the development of a Menards Home Improvement
Store site and other adjacent retail development sites and the City agreed to reimburse the local
developer for the cost of these improvements from available net sales tax revenue generated from
the Menards Home Improvement operations and operations of other similar retail stores in the City
that exceeded a baseline amount established in the development agreement.
79
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE S CONTINGENCY -Continuedw
The local developer has completed improvements associated with the Menards Home Improvement
site at a cost of $344,450. Improvements to the adjacent retail sites have not been completed.
Projected costs of all public improvements are not expected to exceed $3,000,000. The City is
required by the development agreement to reimburse the developer for these costs from available
revenues. 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 that
exceed a baseline amount. All City sales taxes have expiration dates that could occur before the
total costs of the improvements are reimbursed to the developer. 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 15 years from the beginning of the Menards Home Improvement operations.
The City is obligated only to make quarterly payments as may lawfully be made from funds
budgeted and appropriated for that purpose by the City. During the fiscal year ended June 30, 2012,
the City incurred no payments under the development agreement.
NOTE T -SUBSEQUENT EVENTS
In October 2012, the City of Cape Girardeau and Cape Girardeau County amended a development
agreement with a local real estate developer. Under the amendment, the local developer agreed to
pay for additional 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 an Academy Sports store.
Public improvements are not to exceed $3,000,000. The City and County are required by the
development agreement to reimburse the developer for these costs with quarterly payments from
available revenues after the commitment from the original development agreement has been
reimbursed. Available revenue is defined by the agreement as the net sales tax revenue equivalent to
amounts that would be generated by two .25% City capital improvement sales taxes, 50% ofa .50%
City transportation sales tax and 50% of a .50% County sales tax from the Academy Sports store on
inflation adjusted annual sales over $2,500,000. 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. The amended development agreement remains in effect until the earlier
of the reimbursement of the public improvements costs or 15 years after the date that the original
commitment of the original development agreement is reimbursed.
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.
80
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2012
NOTE T -SUBSEQUENT EVENTS -Continued
The City entered into an agreement with a general contractor on August 3,2012, in the amount of
$55,674,000 for the construction of a new Wastewater Treatment Plant. Previously the City had
entered into other contracts associated with this project totaling $5,316,070 for engineering,
consulting, design and review services related to construction of the new plant. A total of
$6,223,297 has been paid out on all ofthese contracts. The cost of this project is to be funded by
direct loans from the State of Missouri Revolving Loan Fund. The City entered into a loan
agreement with the State for $31,000,000 on June 19, 2012. The State has committed to an
additional $39,000,000 direct loan from the revolving loan fund. To date a total of$7,585,092 has
been requested in reimbursements from the loans to cover previously paid and current unpaid
invoices on hand.
On December 12, 2012, the City announced its intention to purchase 247.43 acres along interstate 1
55 around the new LaSalle interchange for $6,000,000 under terms agreed to with the Southeast
Missouri University Foundation. Per the terms, a $480,000 down payment will be made by the
Greater Cape Girardeau Benevolent Association on behalf of the City and the City will make 12
annual payments of$460,000. The City intends to use a portion of the revenue it receives from the
Isle of Capri Casino to make its annual payments. The contract for this purchase is expected to be
approved in January 2013. The land will be used for future business development and is best suited
for distribution centers, light manufacturing, technology-related businesses and some retail
development. The City estimates that it will cost $3.2 million to extend water and sewer services to
this property. The costs are estimated to be funded with its current capital improvement sales taxes
and revenues from the sewer fund.
81
REQUIRED SUPPLEMENTAL INFORMATION
city of Cape Girardeau
General
Statement of Revenues, Expenditures, and Changes In Fund Balances « Budget and Actual
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES
Taxes $ 14,884,065.00 $ 14,884,065.00 $ 15,711,509.61 $ 827,444.61
Licenses & pennits 1,394,300.00 1,394,300.00 1,567,135.53 172,835.53
Intergovernmental 482,182.00 482,182.00 1,026,870.66 544,688.66
Charges for services 256,867.00 256,867.00 257,255.07 388.07
Intemal charges 1,141,572.00 1,141,572.00 1,171,576.63 30,004.63
Fines and forfeits 825,000.00 825,000.00 963,252.22 138,252.22
Miscellaneous 305,550.00 305,550.00 345,535.19 39,985.19
Investment revenue 93,720.00 93,720.00 111,637.92 17,917.92
Total revenues 19,383,256.00 19,383,256.00 21,154,772.83 1,771,516.83
EXPENDITURES
Current:
Administrative 1,665,861.00 1,744,111.00 1,681,841.15 62,269.85
Contingency 40,000..00 48,409.74 29,410.25 18,999A9
Development Services 2,143,384.00 2,507,864.00 2,334,060.96 173,823.04
Parks and Recreation 1,830,462.00 1,869,362.00 1,642,170AO 27,191.60
Public Safety 11,802,848.00 12,066,243.08 11,974,407.25 91,835.83
00 Public Works 2,341,555.00 2,339,432.29 2,274,752.37 64,679.92
IV Total current 19,823,910.00 20,575,442.11 20,136,642.38 436,799.73
Debt service:
Administrative charges 287.38 (287.38)
Interest 64,977.00 64,977.00 62,834.15 2,142.85
Principal 96,000.00 96,000.00 96,000.00
Total debt service 160,977.00 160,977.00 159,121.53 1,655.47
Capital outlay:
Administrative 27,700.00 41,450.00 36,136.29 5,313.71
Development Services 17,000.00 17,000.00
Public Safety 18,990.00 143,944.92 119,851.67 24,093.25
Public Works 107,463.00 109,605.71 96,225.42 13,380.29
Total capital outlay 154,173.00 312,000.63 252,213.38 59,787.25
Total expenditures 20,139,060.00 21,048,419.74 20,547,977.29 500,442.45
Excess (deficiency) of revenues
over (under) expenditures (755,804.00) (1,665,163.74) 606,795.54 2,271,959.28
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Compensation for damages 300.00 300.00
Transfers in 4,561,794.00 4,756,738.00 4,791,917.07 35,179.07
Special assessments 17,000.00 17,000.00 23,388.95 6,388.95
Advance repayments 71,520.00 71,520.00 71,523.28 3.28
Asset disposition 557,328.27 557,328.27
Special programs
Transfers out (3,892,281.00)
(3,590.26)
(4,300,281.00)
(22,402.57)
{4,156,97O.931
(18,812.31)
143,310.07
Total other financing sources and uses and special items 758,033.00 541,386.74 1,265,084.07 723,697.33
Net change in fund balances 2,229.00 (1,123,777.00) 1,871,879.61 2,995,656.61
Fund balances --beginning 5,442,889.19 5,442,889.19 5,442,889.19
Prior period adjustment (1,507.61) (1,507.61)
Fund balances --ending $ 5,445,118.19 $ 4,319,112.19 $ 7,313,261.19 $ 2,994,149.00
See Independent Auditors' Report.
City of Cape Girardeau
Airport
Statement of Revenues, Expenditures, and Changes in Fund Balances· Budget and Actual
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget·
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental
Charges for services
Miscellaneous
Investment revenue
Asset disposition
Total revenues
EXPENDITURES
Current:
Administrative
Total current
00 Capital outlay: w
Administrative
Total capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Total other financing sources and uses and special items
Net change in fund balances
Fund balances beginning
Prior period adjustment
Fund balances ending
$ 237,000.00
313,085.00
194,222.00
540.00
744,847.00
$ 237,000.00
313,085.00
194,222.00
540.00
744.847.00
$ 216,806.55
316,925.84
229,263.79
1,041.03
6,287.79
770,325.00
$ (20,193.45)
3,840.84
35,041.79
501.03
6,287.79
25,478.00
1,228,808.00
1,228,808.00
1,363,908.00
1,363,908.00
1,276,274.80
1,276,274.80
87,633.20
87,633.20
1,228,808.00 1,363,908.00
5,525.00
5,525.00
1,281,799.80
(5,525.00)
(5,525.00)
82,108.20
(483,961.00) (619,061.00) (511,474.80) 107,586.20
$
483,961.00
483,961.00
138,565.76
138,565.76 $
558,961.00
558,961.00
(60,100.00)
138,565.76
78,465.76 $
527,563.46
527,563.46
16,088.66
138,565.76
(744.45)
153,909.97 $
(31,397.54)
(31,397.54)
76,188.66
(744.45)
75,444.21
See Independent Auditors' Report.
city of Cape Girardeau
Park and Recreation
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
REVENUES
Charges for services
Miscellaneous
Investment revenue
Total revenues
EXPENDITURES
Current:
Parks and Recreation
Total current
Capital outlay:
Parks and Recreation
00 Total capital outlay ..p..
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Compensation for damages
Transfers in
Asset disposition
Transfers out
Total other financing sources and uses and special items
Net change in fund balances
Fund balances beginning
Prior period adjustment
Fund balances -ending
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget·
Positive
Original Final Actual Amounts (Negative)
$ 1,287,645.00 $ 1,287,645.00 $ 1,279,691.68 $ (7,953.32)
11,880.00 11,880.00 12,208.48 328.48
4,500.00 4,500.00 7,728.53 3,228.53
1,304,025.00 1,304,025.00 1,299,628.69 (4,396.31)
2,245,279.00 2,313,379.00 2,250,343.74 63,035.26
2,245,279.00 2,313,379.00 2,250,343.74 63,035.26
2,245,279.00 2,313,379.00 2,250,343.74 63,035.26
(941,254.00) (1,009,354.00) (950,715.05) 58,638.95
1,200.00 1,200.00
976,254.00 1,066,254.00 944,843.34 (121,410.66)
4,852.61 4,852.61
976,254.00 1,066,254.00 950,895.95 (115,358.05)
35,000.00 56,900.00 180.90 (56,719.10)
411,930.94 411,930.94 411,930.94
(33,063.55) (33,063.55)
$ 446,930.94 $ 468,830.94 $ 379,048.29 $ (89,782.65)
City of Cape Girardeau
Transportation Sales Tax Trust Fund III
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Investment revenue $ 45,000.00 $ 45,000.00 $ 84,398.26
Total revenues 45,000.00 45,000.00 84,398.26
EXPENDITURES
Capital outlay:
Capital Improvement Projects 2,174,631.00 2,174,631.00 462,112.79
Total capital outlay 2,174,631.00 2,174,631.00 462,112.79
Total expenditures 2,174,631.00 2,174,631.00 462,112.79
00 Excess (deficiency) of revenuesUl
over (under) expenditures (2,129,631.00) (2,129,631.00) (377,714.53)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 382,663.00 382,663.00 382,663.00
Total other financing sources and uses and special items 382,663.00 382,663.00 382,663.00
Net change in fund balances (1,746,968.00) (1,746,968.00) 4,948.47
Fund balances -beginning 3,024,821.99 3,024,821.99 3,024,~21.99
Fund balances ending $ 1,277,853.99 $ 1,277,853.99 $ 3,029,770.46
Variance with
Final Budget
Positive
(Negative)
39,398.26
39,398.26
1,712,518.21
1,712,518.21
__1,712,518.21
1,751,916.47
1,751,916.47
$ 1,751,916.47
See Independent Auditors' Report.
City of Cape Girardeau. Missouri
NOTE,S TO BUDGETARY COMPARISON SCHEDLLES
June 30, 2012
BUDGETS AND BUDGETARY ACCOUNTING
The City adopts annual operating budgets for all funds except Storm Water Projects from Storm
Water Sales Tax Fund, Park Improvement Projects fi'om Park I Storm 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 flnancial
statements.
1. The City Manager submits to the City Council a proposed operating budget for the flscal
year ending the following June 30th at the flrst meeting of June each year. The operating
budget includes proposed expenditures and the means of flnancing them.
2. Public hearings are conducted to obtain taxpayer comments.
3. Prior to July 1, the budget is legally enacted through passage of an ordinance.
4. The City Manager is authorized to transfer budgeted amounts between programs within
any department; however, any revisions that alter the total appropriations of any
department must be approved by the City CounciL Departments may not legally exceed
their appropriations without approval from the City CounciL Appropriations expire at the
end of the year; however, outstanding encumbrances at the end of the year are honored by
the City.
5. Formal budgetary integration is employed as a management control device during the
year for all funds.
6. Budgets for all funds are adopted on a budgetary basis.
7. If, during the fiscal year, the City Manager certifies there are additional revenues to
appropriate, unencumbered appropriation balances within a department, or there is an
emergency situation, the City Council may amend the initial budget by ordinance. The
initial budget was adopted by the City Council on June 20. 2011 and amended on March
5,2012, May 21, 2012, and July 2, 2012. The initial budget and final amended budget
are both reflected in the financial statements.
For the year ended June 30, 2012, the fund expenditures for Vision 2000, Motor Fuel Tax,
Riverfront Region Economic Development Community Development Block Grant and Sewer
exceeded their approved budgets by $1 L $26,832, $12,051, $149, and $47,602. respectively.
86
City of Cape Girardeau. Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30. 2012
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 or 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 (Deficiency) of Revenues and Other
Financing Sources Over (Under) Exp¢nditurcs and
QtiwrJ'in<!ncing Uses
Cap Impr Sales Transportation
Parks and Tax-Water System Sales Tax Trust Non-major
General Airport Recremion Il11provJ;m_ellt~ Fund IV Funds
GAAP Basis $1,756,981 $ 18,375 $ (1,193) $ 1,439,945 $ 1.501,750 $ (2,967,372)
Increase due to:
Year-end encumbrances
Admini,tmtiv.: services 8,839 IS,Ofn
Development services 24,916 28,749
Parks and recreation 1.263 3,296 4,885
Publte Safety 98,857 25,454
Public Works 27,688
Capitalnutlay 9,666 97,750 3, 144,529
Contingency 4,948
Funds not budgeted annually 2,854,388
Advance from other fmds 71523
Adjust investments to market 5.213 175 2,969 1.476 47,927
Encumbrance revenue .--~ ._ ......----._-_1546,953----~
_~,ill 15,182 _ 6.265. ~_._I.U42 97,750 7,652,88~
Decrease d lie to:
Year-end encumbrances
Administrative services 4382 8M7
Development services 19,319
23,654
Parks and recre,ltion 2.4J 5 4,891 23,906
Public salety 81.671 39,631
Publ ie works 10,259
Capital outlay ],785,068 2,141,886
Contingency 750
I,ncumbrance revenue 12,436 8,811 283,342
Adjust invest to market ,__ ...JJQ2 _. 8,527
~. ....JJLD.l .....__L'ZAfJll 4,wn _.1790,,277 2,520,946
Iludget Basis $1,8/L&llQ L~_I_~,i)~9 $. LSI $ ~
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,
87
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30,2012
BUDGETS AND BlJDGETARY 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 rel'tlllding amortizatinn
Issuance cost amortization
Adjust investments to market
Amounts deferred to be used for t'tlture debt
service on capital appreciation bonds
Construction fund earnings
Interest subsidy received
Net OPEB obligation
Asset dispositions
Decrease due to:
Year-end encumbrances
Operating expenses
Capital outlays
Landfill closure and maintenance costs
Interest paid more than accrual
Bond principal paid
Amortized Bond premium/discount
Capital outlays
Deferred revenueS
Adjustment to liability for future landfill
postclosure maintenance costs
Net OPEB Obligation
Contributed capital
Budget Basis
Net Income (Loss)
Water
Solid
Was~
$ 776.809 $( 11.038.235) $ (172.468) $
1,031.534
826.492
2,149,022
14.054
199.000
270'(133
17,409
6.773
174.935
10.236
1.523,960
6.787
13.999.459
31535
11,253
17.711
16.832
436.354
5.552
5.930
345,253
399.746
4.539
Golf SoHhall
Course Complex
(70.570) $ (103.536)
249 7.645
119.289 144.898
308 586
3.731 654
15.795.013 _1,53,783
279.011 7.373 103.531
1,502.566 1,213 160.541
4.879
282,638 12.867 17.147
2.251.500 965.000 202.508
18.427 3.090
2,343.966 368.756 293.543
222.458 267.145 83.309
1.621
36.201 3.963
2.663.402 ---....-
3.540 8.237
9.224
28.050 17,467
12J)89 _,£4,503
7.298.850 ~.l32
1) $
88
-----
City of Cape Girardeau, Missouri
NOTES TO BlIDGETARY COMPARISON SCI~IEDULES
June 30, 2012
BllD(;ETS AND BUDGETARY ACCOlfNTING -Continued
Net Income (Loill
Datu Fleet Employee Ris~ Lquipment
Processing Managemenj Fril}gj; Management R,plaeell1Cnl
$ 64,901 $ 132,918 $ 76.584 $ 62.274GAAP Basis $ 65,361
Increase due to:
Prior year encumbrances
Operating expenses 4,157
Capital Outlays 58.651
Depreciation 99.096 20,817 291.035
Deferred revenues 15,074
Issuance cost amortization 546
Difference between proceeds from
sale of fixed assets and gain or loss 21.275
Net OPEB Obligation 1,636
Adjust investments to market __6.156
159,741 _40.115 6,156 316,220
Decrease due to:
Year-end encumbrances
Operating expenses 6,861
Capital outlays 11,084
Interest paid more than accrued 117
Amortized Bond premium/discount 443
Net OPEB Obligation 5,588
Asset Dispositions 21,000
Principal paid 40,000
Capital outlays -_ 260,74~
_1_97.039 _ ...._--
-~-
Budget Basis 56~J<tl
89
CITY OF CAPE GIRARDEAU, MISSOURI
Schedule of Funding Progress
June 30,2012
(b-a) [(b-a)/c)l
o \Q (a) Entry Age Unfunded (c) UAL as a
Actuarial Actuarial Actuarial Accrued (alb) Annual Percentage of
Valuation Value Accrued Liability Funded CoYered Covered
Date Of Assets Liability (UAL) Ratio Payroll Payroll
2/28/20 I ° $ 28,033,747 $ 31,677,279 $ 3,643,532 88% $ 14,192,849 26~/o
2/28/2011 28,180,987 32,648,850 4,467,863 86% 13,842,403 3
2/29/2012 28,410,535 32,460,611 4,050,076 88% 14,065,599 29%
See Independent Auditors' Report.
SUPPLEMENTAL INFORMATION
City of Cape Girardeau
Vision 2000
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 3D, 2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget-
Positive
(Negative)
REVENUES
Investment revenue
Total revenues
$ $ 0.22
0.22
$ 0.22
0.22
EXPENDITURES
. Total expenditures
Excess (deficiency) of revenues
over (under) expenditures 0.22 0.22
\0 ,...... OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
Total other financing sources and uses and special items
Net change in fund balances
(11.02)
(11.02)
(10.80)
(11.02)
(11.02)
(10.80)
Fund balances beginning
FUnd balances -ending
10.80
$ 10.80
10.80
$ 10.80
10.80
$ 0.00 $ (10.80)
See Independent Auditors' Report.
City of Cape Girardeau
Convention and Tourism
Statement of Revenues, Expenditures, and Changes In Fund Balances -Budget and Actual
REVENUES
Taxes
Investment revenue
Total revenues
1..0
tv
EXPENDITURES
Current:
Administrative
Total current
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances
Fund balances
beginning
ending
For the Year Ended June 3D, 2012
Budgeted Amounts
Original Final
$ 1.726.264.00
9,000.00
1,735,264.00
$ 1.726,264.00
9.000.00
1,735.264.00
1,777,763.00
1.777.763.00
1.777.763.00
2,039,763.00
2.039.763.00
2,039,763.00
(42,499.00) (304,499.00)
(42,499.00) (304,499.00)
$
558,352.82
515.853.82 $
558,352.82
253,853.82
Actual Amounts
$ 1,886,774.68
6,815.31
1.893,589.99
2,010,364.04
2.010.364.04
2,010.364.04
(116.774.05)
(116,774.05)
558,352.82
$ 441.578.77
Variance with
Final Budget
Positive
(Negative)
$ 160.510.68
(2,184.69)
29,398.96
29,398.96
187,724.95
187,724.95
$ 187,724.95
158.325.99
29.398.96
City of Cape Girardeau
Downtown Business District
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget
Positive
OrlQinal Final Actual Amounts (Negative!
REVENUES
Taxes
Investment revenue
$ 24,700.00
1,125.00
$ 24,700.00
1,125.00
$ 24,856.41
803.72
$ 156.41
(321.28)
Total revenues 25,825.00 25,825.00 25,660.13 (164.87)
EXPENDITURES
Current:
Development Services 15,825.00 15,825.00 11,644.77 4,180.23
\0
VJ
Debt Service:
Interest
Principal
Total current
Total debt service
15,825.00
5,301.00
4,699.00
10,000.00
15,825.00
5,301.00
4,699.00
10,000.00
11,644.77
4,873.63
5,126.37
10,000.00
4,180.23
427.37
(427.37)
Total expenditures
Excess (defiCiency) of revenues
over (under) expenditures
25,825.00 25,825.00 21,644.77
4,015.36
4,180.23
4,015.36
Net change in fund balances 4,015.36 4.015.36
Fund balances
Fund balances
beginning
ending $
43,062.79
43,062.79 $
43,062.79
43,062.79 $
43,062.79
47,078.15 $ 4,015.36
REVENUES
Taxes
Licenses & permits
Intergovernmental
Investment revenue
Total revenues
EXPENDITURES
Current:
Public Safety
Total current
Total expenditures 1.0
-+:0Excess (defiCiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances .-beginning
Fund balances -ending
City of Cape Girardeau
Health
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30,2012
Variance with
Budgeted Amounts Final Budget·
Positive
Original Final Actual Amounts (Negative)
$ 313,105.00 $ 313,105.00 $ 320,179.55 $ 7,074.55
4,000.00 4,000.00 3,109.00 (891.00)
7,575.00 7,575.00 8,727.10 1,152.10
9,000.00 9,000.00 10,144.22 1,14~.22
333,680.00 333,680.00 342,159.87 8,479.87
333,680.00 341,630.00 325,245.51 16,384.49
333,680.00 341,630.00 325,245.51 16,384.49
333,680.00 341,630.00 325.245.51 16,384.49
(7,950.00) 16.914.36 24,864.36
(7,950.00) 16,914.36 24,864.36
471,461.29 471,461.29 471,461.29
$ 471,461.29 $ 463,511.29 $ 488,375.65 $ 24,864.36
See Independent Auditors' Report.
City of Cape Girardeau
Motor Fuel Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget.
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental $ 1,356,000.00 $ 1,356,000.00 $ 1,378,902.22 $ 22,902.22
Investment revenue 3,514.00 3,514.00 8,135.70 4,621.70
Total revenues 1,359,514.00 1,359,514.00 1,387,037.92 27,523.92
EXPENDITURES
Capital outlay:
Public Works 3,500.00 30,331.94 (26,831.94)
Total capital outlay 3,500.00 30,331.94 (26,831.94)
Total expenditures 3,500.00 30,331.94 (26,831.94)
Excess (deficiency) of revenues
\0
over (under) expenditures 1,359,514.00 1,356,014.00 1,356,705.98 691.98
VI
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments 4,468.00 4,468.00 4,353.67 (114.33)
Transfers out (1,320,000.00) (1,320,000.00~ (1,320,000.00)
Total other financing sources and uses and special items (1,315,532.00) (1,315,532.00) (1,315,646.33) (114.33)
Net change in fund balances 43,982.00 40,482.00 41,059.65 577.65
Fund balances --beginning 210,978.87 210,978.87 210,978.87
Fund balances --ending $ 254,960.87 $ 251,460.87 $ 252,038.52 $ 577.65
lent Auditors' Report.
City of Cape Girardeau
Capital Improvement Sales Tax-Flood Control
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30,2012
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES
Investment revenue $ $ $J
Total revenues
EXPENDITURES
Total expendilures
Excess (deficiency) of revenues
over (under) expenditures
\0
0'\ OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out (44,000.00) (43,510.29) 489.71
Total other financing sources and uses and special items (44,000.00) (43,510.29) 489.71
Net change in fund balances (44,000.00) (43,510.29) 489.71
Fund balances -beginning 43,510.29 43,510.29 43,510.29
Fund balances -ending $ 43,510.29 $ (489.71) $ $ 489.71
See Independent Auditors' Report.
City of Cape Girardeau
Capital Improvement Sales Tax-Water System Improvements
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budgqt and Actual
For the Year Ended June 30, 2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
REVENUES
Taxes
Investment revenue
Total revenues
$ 2,225,802.00
101,000.00
2,326,802.00
$ 2,225,802.00
101,000.00
2,326,802.00
$ 2,331,832.70
73,374.76
2,405,207.46
$ 106,030.70
(27,625.24)
78,405.46
EXPENDITURES
Current:
Development Services:
Total current
42,000.00
42,000.00
42,000.00
42,000.00
29,271.63
29,271.63
12,728.37
12,728.37
\0
-.l
Debt service:
Administrative charges
Interest
Principal
Total debt service
Total expenditures
58,465.00
534,402.00
1,257,300.00
1,850,167.00
1,892,167.00
58,465.00
810.577.00
15,307,300.00
16,176,342.00
16,218,342.00
56,406.05
810.294.47
15,306,800.00
16,173,500.52
16,202,772.15
2,058.95
282.53
500.00
2,841.48
15.569.85
Excess (deficiency) of revenues
over (under) expenditures 434,635.00 (13,891,540.00) (13,797,564.69) 93,975.31
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Total other financing sources and uses and speCial items
Net change in fund balances
1,400,000.00
1,400,000.00
1,834,635.00
15,250,000.00
15,250,000.00
1,358,460.00
15,248,651.57
15,248,651.57
1,451,086.88
(1,348.43)
(1,348.43)
92,626.88
Fund balances beginning
Fund balances -ending
1,337,118.33
$ 3,171,753.33
1,337,118.33
$ 2,695,578.33
1,337,118.33
$ 2,788,205.21 $ 92,626.88
Seelndeoende
REVENUES
Investment revenue
Total revenues
EXPENDITURES
Debt service:
Administrative charges
Interest
Principal
Total debt service
\0
00 Capital outlay:
Capital Improvement Projects
City of Cape Girardeau
Transportation Sales Tax Trust Fund
Statement of Revenues. Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Budgeted Amounts
Original Final Actual Amounts
$ 4,579.00
4,579.00
$ 4,579.00
4,579.00
$ 5,790.76
5,790.76
450.00
7,503.00
123,000.00
130,953.00
450.00
8,003.00
123,000.00
131,453.00
261.25
7,882.79
123,000.00
131,144.04
54.00
Variance with
Final Budget
Positive
(Negative)
$ 1,211.76
1,211.76
188.75
120.21
308.96
(54.00)
Total capital outlay
Total expenditures 130,953.00 131,453.00
54.00
131,198.04
(54.00)
254.96
Excess (deficiency) of revenues
over (under) expenditures (126,374.00) (126,874.00) __(125,407.28) 1,466.72
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments
Total other financing sources and uses and special items
Net change in fund balances
29,999.00
29,999.00
(96,375.00)
29,999.00
29,999.00
(96,875.00)
26,821.22
26,821.22
(98,586.06)
(3,177.78)
(3,177.78)
(1,711.06)
Fund balances --beginning
Fund balances.-ending $
165,190.06
68,815.06 $
165,190.06
68,315.06
165,190.06
$ 66,604.00 $ (1,711.06)
City of Cape Girardeau
Capital Improvement Sales Tax-Sewllf System Improvements
Statement of Revenues, Expenditures, and Changes In Fund Balances -Budget and Actual
For the Year Ended June 3D, 2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Positive
___(Negative)
REVENUES
Taxes
Investment revenue
$ 2,225,802.00
33,750.00
$ 2,225,802.00
33,750.00
$ 2,331,863.76
19,616.57
$ 106,061.76
(14,133.43)
Total revenues 2,259,552.00 2,259,552.00 2,351,480.33 91,92B.33
EXPENDITURES
Current
Development Services
Total current
Total expenditures
42,000.00
42,000.00
42,000.00
42,000.00
42,000.00
42,000.00
29,271.63
29,271.63
29,271.63
12,728.37
12,728.37
12,728.37
Excess (deficiency) of revenues
over (under) expenditures 2,217,552.00 2,217,552.00 2,322,208.70 104,656.70
\0
\0 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
1,113,700.00
(1,624,914.00)
(511,214.00)
1,706,338.00
1,113,700.00
(1,624,914.00)
(511,214.00)
1,706,338.00
1,113,700.00
(1,624,914.00)
(511,214.00)
1,810,994.70 104,656.70
Fund balances -beginning
Fund balances ending
526,262.62
$ 2,232,600.62
526,262.62
$ 2,232,600.62
526,262.62
$ 2,337,257,32 $ 104,656.70
0
0 -
City of Cape Girardeau
Transportation Sales Tax Trust Fund II
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
REVENUES
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget-
Positive
(Negative)
Investment revenue
Total revenues
$ 3,386.00
3,386.00
$ 6,042.19
6,042.19
$
EXPENDITURES
Capital outlay:
Capital Improvement Projects
Total capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures 3,386.00 3,386.00 6,042.19 2,656.19
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments
T rens fers out
Total other financing sources and uses and special items
Net change in fund balances
29,277.00
(32,663.00)
(3,386.00)
29,277.00
(32,663.00)
(3,386.00)
?9,362.21
(32,663.00)
(3,300.79)
2,741.40
85.21
2,741.40
Fund balances -beginning
Fund balances --ending $
110,552.21
110,552.21 $
110,552.21
110,552.21 $
110,552.21
113,293.61 $ 2,741.40
City of Cape Girardeau
Fire Sales Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30,2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget.
Positive
(Negative)
REVENUES
Taxes
Total revenues 2.159,611.00
$ 2.159.611.00
2.159.611.00
$ 2.261,084.09
2.261.084.09
$ 101,473.09
101,473.09
EXPENDITURES
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures 2,159,611.00 2.159,611.00 2,261,084.09 101,473.09
.......
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
Total other finanCing sources and uses and special items
Net change in fund balances
(2,157,111.00)
(2,157,111.00)
2,500.00
(2.287,111.00)
(2.287,111.00)
(127,500.00)
(2.273,970.41 )
(2,273.970.41)
(12,886.32)
13.140.59
13,140.59
114.613.68
Fund balances beginning
Fund balances ending $ 219.412.49
216.912.49
$ 89,412.49
216.912.49
$ 204.026.17 $ 114.613.68
City of Cape Girardeau
Public Safety Trust
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30,2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
REVENUES
Investment revenue
Total revenues
$ 5,288.00
5,288.00
$ 5,288.00
5,288.00
$ 24.324.89
24,324.89
$ 19,036.89
19,036.89
EXPENDITURES
Current:
Public Safety
Total current
28,000.00
28,000.00
41,910.00
41,910.00
14,513.43
14,513.43
27,396.57
27,396.57
Debt service:
........
0
IV
Administrative charges
Interest
Principal
Total debt service
500.00
131,416.00
583,992.00
715,908.00
500.00
131,416.00
583,992.00
715,908.00
126.380.44
583.991.94
710.372.38
500.00
5,035.56
0.06
5.535.62
Capital outlay:
Public Safety
Total capital outlay
Total expenditures
240,522.00
240.522.00
984.430.00
271.951.00
271,951.00
1,029.769.00
282.178.29
282,178.29
1,007,064.10
(10.227.29)
(10.227.29)
22,704.90
Excess (deficiency) of revenues
over (under) expenditures (979,142.00) (1.024,481.00) (982.739.21) 41.741.79
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Transfers out
Total other financing sources and uses and speCial items
Net change in fund balanqls
Fund balances beginning
Fund balances -ending
2,157,111.00
(1.209,290.00)
947,821.00
(31 ,321.00)
858.832.69
$ 827,511.69
2.287.111.00
(1.274,234.00)
1.012,877.00
(11,604.00)
858.832.69
$ 847.228.69
2.273,970.41
(1.267,719.21)
1.006.251.20
23,511.99
858.832.69
$ 882,344.68
(13.140.59)
6,514.79
(6,625.80)
35,115.99
$ 35.115.99
City of Cape Girardeau
Debt Service
Statement of Revenues. Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30. 2012
Variance with
Budgeted Amounts Final Budget-
Positive
Original Final Actual Amounts (Negative)
REVENUES
Taxes
Investment revenue
$
2,951.00
$
2,951.00
$ 3.71
2,969.39
$ 3.71
Total revenues 2,951.00 2,951.00 2,973.10 22.10
EXPENDITURES
Current:
Administrative
Debt Service
0.06 (0.06)
Total current 0.06 (0.06)
,.....
0 w
Debt service:
Administrative charges
Interest
Principal
Total debt service
1,952.00
32,000.00
33,952.00
2,052.00
32,000.00
34,052.00
2,003.01
32,000.00
34,003.01
48.99
48.99
Total expenditures 33,952.00 34,052.00 34,003.07 48.93
Excess (deficiency} of revenues
over (under) expenditures (31,001.00) (31,101.00) (31,029.97) 71.03
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments
Total other financing sources and uses and special items
Net change in fund balances
32,999.00
32,999.00
1,998.00
32,999.00
32,999.00
1,898.00
32,999.11
32,999.11
1,969.14
0.11
0.11
71.14
Fund balances -beginning
Fund balances -ending $
22,235.04
24,233.04 $
22,235.04
24,133.04 $
22,235.04
24,204.18 $ 71.14
City of Cape Girardeau
General Capital Improvements
Statement of Revenues, Expenditures, and Changes in Fund Balances· Budget and Actual
For the Year Ended June 30, 2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget·
Positive
(Negative)
REVENUES
Intergovernmental
Investment revenue
$ $ $ 3,764.02 $ 3,764.02
Total revenues 3,764.02 3,764.02
..
o
.j:>.
EXPENDITURES
Capital outlay:
Capital Improvement Projects
Total capital outlay
Total expenditures
75,000.00
75,000.00
75,000.00
64,378.39
64,378.39
64,378.39
10,621.61
10,621.61
10,621.61
Excess (deficiency) of revenues
over (under) expenditures -_........... _._(75,000.00) (60,614.37) 14,385.63
Fund balances beginning
Fund balances -ending
216,199.17
$ 216,199.17
216,199.17
$ 141,199.17
216,199.17
$ 155,584.80 $ 14,385.63
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 June 30, 2012
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES
Investment revenue
Total revenues
EXPENDITURES
Total expenditures
...
0
Vl
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special Assessments
Total other financing sources and uses and special items
Net change in fund balances
Fund balances --beginning
Fund balances -ending
$ 3,543.00
3,543.00
3,543.00
$
9,602.00
9,602.00
13,145.00
54,732.78
67,877.78
$ 3,543.00
3,543.00
3,543.00
9,602.00
9,602.00
13,145.00
54,732.78
$ 67,877.78
$ 5,988.52
5,988.52
5,988.52
9,192.37
9,192.37
15,180.89
54,732.78
$ 69,913.67
$ 2,445.52
2,445.52
2,445.52
(409.63)
(409.63)
2,035.89
$ 2,035.89
See Independent Auditors' Report.
City of Cape Girardeau
Park Improvements
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Intergovernmental
Investment revenue
Total revenues
EXPENDITURES
........
0
0\
Capital outlay
Capital Improvement Projects
Total capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Total other financing sources and uses and special items.
Net change in fund balances
Fund balances -beginning
Fund balances -endina
$ $ $ 127,331.79
0.76
127,332.55
138,000.00
138,000.00
138,000.00
130,336.64
130,336.64
130,336.64
(138,000.00) (3,004.09)
(138,000.00)
21,327.16
21,327.16
18,323.07
$
(7,957.79)
(7,957.79) $ (145,957.79) $
(7,957.79)
10,365.28
Variance with
Final Budget-
Positive
(Negative)
$ 127,331.79
0.76
127,332.55
7,663.36
7,663.36
7,663.36
134,995.91
21,327.16
21,327.16
156,323.07
$ 156,323.07
See Independent Auditors' Report.
City of Cape Girardeau
Community Development Block Grant Projects
Statement of Revenues, Expenditures, and Changes In Fund Balances -Budget and Actual
For the Year Ended June 30, 2012 .
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
REVENUES
Intergovernmental
Investment revenue
$
675.00
$
675.00
$ 0.06
708.12
$ 0.06
33.12
Total revenues 675.00 675.00 708.18 33.18
.........
0
-..l
EXPENDITURES
Current:
Development Services
Total current
Debt service:
Interest
Total debt service
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures 675.00
650.00
650.00
650.00
25.00
121.00
121.00
677.52
677.52
798.52
(90.34)
(121.00)
(121.00)
(27.52)
(27.52)
(148.52)
(115.34)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Total other financing sources and uses and special items
1,000.00
1,000.00
1,108.96
1,108.96
108.96
108.96
Net change in fund balances 675.00 1,025.00 1,018.62 (6.38)
fund balances beginning 37,161.84 37,161.84 37,161.84
fund balances ending $ 37,836.84 $ 38,186.84 $ 38,180.46 $ (6.38)
City of Cape Girardeau
Transportation Sales Tax Trust Fund IV
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 3D, 2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
REVENUES
Taxes
Intergovemmental
Investment revenue
$ 4,319,223.00
30,000.00
49,500.00
$ 4,319,223.00
30,000.00
49,500.00
$ 4,522,317.81
30,000.00
57,854.72
$ 203,094.81
8,354.72
Total revenues 4,398,723.00 4,398,723.00 4,610,172.53 211,449.53
,.......
0
00
EXPENDITURES
Current
Development Services
Total current
Capital outlay:
Capital improvement projects
Total capital outlay
5,100,000.00
5,100,000.00
7,202,000.00
7,202,000.00
66,152.87
66,152.87
6,869,896.95
6,869,896.95
(66,152.87)
(66,152.87)
332,103.05
332,103.05
Total expenditures 5,100,000.00 7,202,000.00 6,936,049.82 265,950.18
Excess (deficiency) of revenues
over (under) expenditures (701,277.00) (2,803,277.00) (2,325,877.29)
\.
477,399.71
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Total other financing sources and uses and special items
Net change in fund balances
135,000.00
135,000.00
(566,277.00)
135,000.00
135,000.00
(2,668,277.00)
135,000.00
135,000.00
(2,190,877.29) 477,399.71
Fund balances --beginning
Fund balances --ending
1,452,788.56
$ 886,511.56 $
1,452,788.56
(1,215,488.44) $
1,452,788.56
(738,088.73) $ 477,399.71
City of Cape Girardeau
Park Stonn Water Sales Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Budgeted Amounts
Original Final
REVENUES
Taxes
Investment revenue
Total revenues
EXPENDITURES
Total expenditures
.......
o
\0
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
Total other financing sources and uses and special items
Net change in fund balances
Fund balances beginning
Fund balances -ending
Actual Amounts
$ 1,165,409.16
13,488.52
1,178,897.68
1,178,897.68
(1,050,759.19)
(1,050,759.19)
128,138.49
212,660.12
$ 340,798.61
Variance with
Final Budget
Positive
(Negative)
$ 52,508.16
11,238.52
63,746.68
63,746.68
81,008.81
81,008.81
144,755.49
$ 144,755.49
$ 1,112,901.00
2,250.00
1,115,151.00
1,115,151.00
(1,131,768.00)
(1,131,768.00)
(16,617.00)
212,660.12
$ 196,043.12
$ 1,112,901.00
2,250.00
1,115,151.00
1,115,151.00
(1,131,768.00)
(1,131,768.00)
(16,617.00)
212,660.12
$ 196,043.12
See Independent Auditors' Report.
City of Cape Girardeau
Park Storm Water Sales Tax-Capital
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 3D, 2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
REVENUES
Taxes
Investment revenue
Total revenues
$ 3,338,702.00
32,000.00
3,370,702.00
$ 3,338,702.00
32,000.00
3,370,702.00
$ 3,496,227.50
37,173.06
3,533,400.56
$ 157,525.50
5,173.06
162,698.56
,....,....
0
EXPENDITURES
Debt service:
Administrative charges
Interest
Principal
Total debt service
3,700.00
593,119.00
1,895,000.00
2,491,819.00
3,700.00
593,119.00
1,895,000.00
2,491,819.00
3,108.88
593,118.76
1,895,000.00
2,491,227.64
591.12
0.24
591.36
Capital outlay:
Parks and Recreation
Total capital outlay
Total expenditures
637,600.00
637,600.00
3,129,419.00
637,600.00
637,600.00
3,129,419.00
577,853.33
577,853.33
3,069,080.97
59,746.67
59,746.67
60,338.03
Excess (deficiency) of revenues
over (under) expenditu res 241,283.00 241,283.00 464,319.59 223,036.59
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
565,000.00
(392,000.00)
173,000.00
414,283.00
565,000.00
(567,000.00)
(2,000.00)
239,283.00
305,396.58
(489,607.00)
(184,210.42)
280,109.17
(259,603.42)
77,393.00
(182,210.42)
40,826.17
Fund balances --beginning
Fund balances -ending
1,425,207.04
$ 1,839,490.04
1,425,207.04
$ 1,664,490.04
1,425,207.04 .
$ 1,705,316.21 $ 40,826.17
City of Cape Girardeau
Housing Development Grants
Statement of Revenues, Expenditures, and Changes in Fund Balances· Budget and Actual
For the Year Ended June 30,2012
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Intergovernmental $ 185,000.00 $ 185,000.00 $ 513,677.16
Investment revenue 117.87
Total revenues 185,000.00 185,000.00 513,795.03
EXPENDITURES
Current:
Development Services 185,000.00 414,000.00 389,804.46
Total current _. 185,000.00 414,000.00 389,804.46 ...... Debt service: ......
Interest 3,000.00 3,217.11
Total debt service 3,000.00 3,217.11
Total expenditures 185,000.00 417,000.00 393,021.57
Excess (deficiency) of revenues
over (under) expenditures __(232,000.00) 120,773.46
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 36,000.00 37,630.69
Total other financing sources and uses and special items 36,000.00 37,630.69
Variance with
Final Budget·
Positive
(Negative)
$ 328,677.16
117.87
328,795.03
24,195.54
24,195.54
(217.11)
(217.11)
23,978.43
352,773.46
1,630.69
1,630.69
Net change in fund balances (196,OOO.00) 158,404.15 354,404.15
Fund balances beginning (177,507.29) (177,507.29) (177,507.29)
Fund balances ending $ (177,507.29) $ (373,507.29) $ (19,103.14) $ 354,404.15
City of Cape Girardeau
Casino Revenue
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 3D, 2012
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Investment revenue
Total revenues
EXPENDITURES
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
.....
N 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
$ $ $ 141.03
141.03
141.03
260,000.00
(260,000.00)
260,000.00
(260,000.00)
260,000.00
(260,000.00)
$
8,674.26
8,674.26 $
8,674.26
8,674.26 $
141.03
8,674.26
8,815.29
Variance with
Final Budget
Positive
(Negative)
$ 141.03
141.03
$ 141.03
Seelndepen
141.03
141.03
City of Cape Girardeau
FAU Grant Projects
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Original
Budgeted Amounts
Final Actual Amounts
Variance with
Final Budget-
Positive
(Negative)
REVENUES
Intergovernmental
Investment revenue
$ 2,158,719.00
6.750.00
$ 2,158,719.00
6.750.00
$ 2,048,767.20
9,739.52
$ (109,951.80)
2,989.52
Total revenues 2.165,469.00 2.165,469.00 2,058,506.72 (106,962.28)
....... ...... w
EXPENDITURES
Capital outlay:
Capital Improvement Projects
Total capital outlay
Total expenditures
2,639,000.00
2,639,000.00
2,639,000.00
2,639,000.00
2,639,000.00
2,639,000.00
2,412,326.31
2,412,326.31
2,412,326.31
226,673.69
226,673.69
226,673.69
Excess (deficiency) of revenues
over (under) expenditures (473,531.00) (473,531.00) (353,819.59) 119,711.41
Net change in fund balances (473,531.00) (473,531.00) (353,819.59) 119,711.41
Fund balances -beginning
Fund balances -ending
517,716.84
$ 44,185.84
517,716.84
$ 44,185.84
517,716.84
$ 163.897.25 $ 119,711.41
See Independent Auditors' Report.
City of Cape Girardeau
Sewer
Statement of Revenues, Expenditures, and Changes In Fund Balances· Budget and Actual
For the Year Ended June 3D, 2012
Variance with
Budgeted Amounts Final Budget.
Positive
Onglnal Final Actual Amounts (NegativeI
REVENUES
Intergovemmental $ $ $ 4,592A5 $ 4,592A5
Residential charges 4,681,361.00 4,681,361.00 4,621,670.91 (59,690.09)
Commercial charges 2,880,002.00 2,880,002.00 2,686,269.58 (193,732A2)
Other fees and charges 55,650.00 55,650.00 124,929.31 69.279.31
Intemal charges 9,525.07 9,525.07
Miscellan eou s 800.00 800.00 250A2 (549.58)
Investment revenu e 474,943.00 474,943.00 477,324.22 2,381.22
Total revenues 8,092,756.00 8,092,756.00 7.924,561.96 (168,194.04)
EXPENDITURES
Current:
Contractual services 425,023.00 545,421.03 515,254.83 30,166.20
General operating expenses 215,474.00 218,819.49 491,112.90 (272,293.41)
Intemal service expense 203,982.00 203,982.00 176,113.24 25,868.76
Material and supplies 538.242.00 . 512,014.48 486,250.80 25,763.68
....... Personnel services 1,602,997.00 1,602,997.00 1,491,458.31 111,538.69 .......
.j:>. Special projects expense 1611,000.00 168,000.00 24,929.00 143,071.00
Tota! current 3,153,718.00 3.251,234.00 3,187,119.08 64,114.92
Debt service:
Administrative charges 90,039.00 90,039.00 87,266.00 2,771.00
Interest 636,420.00 636,420.00 263,945.97 372,474.03
Issuance cost 199,000.00 (199,000.00)
Principal 1,597,3211.00 1,597,328.00 2,251,500.00 (654,172.00)
Total debt service 2,323,787.00 2,323,787.00 2,1101,713.97 __(477,926.97)
Capital outlay:
Capftallmprovement Projects 1,374,237.00 2,411,091.60 2,398,979A7 12,112.13
Equipment 388,231.00 437,860AO 133,132.86 304,727.54
Other Capital Expenditures 55,000.00 595,000.00 487,927.99 107.072.01
Total capital outlay 1,817,468.00 3,443,952.00 3,020,040.32 423,911.66
Total expenditures 7,294,973.00 9,018,973.00 9.006,873.37 10,099.63
Excess (defICiency) of revenues
over (under) expenditures 797,783.00 (926,217.00) (1,084,311Al) (158,094Al)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 2,015,764.00 2,065,784.00 2,072,059.29 6,275.29
Connection fees 55,000.00 55,000.00 100,221.00 45,221.00
Special assessments 5,000.00 5,000.00 14,053.55 9,053.55
Asset disposition 28,200.00 28,200.00 7,654.25 (20,545.75)
Bond proceeds 199,000.00 199,000.00
Transfers out (2,513,700.00) (2,513,700.00) (2,571,401.71) (57,701.71)
Total other financing sources and uses and speelal Hems (409,716.00) (359,716.001 1176,413.62) 181.302.38
Net change In fund balances 388,067.00 (1.285,933.00) (1,262,725.03) 23,207.97
Fund balances -beginning 2.163,501.92 2.163.501.92 2,163,501.92
Prior period adjustment 5,731.25 5,731.25
Fund balances -ending $ 2,551,568.92 $ 877,568.92 $ 906,506.14 $ 28,939.22
See Independent Auditors' Report
City of Cape Girardeau
Water
Statement of Revenues, Expenditures, and Changes In Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Vanance with
Budgjtted A I11()unts_ Final Budget
Positive
Onglnal Final Actual Amounts (Negative)
REVENUES
Intergovemmentlil $ $ $ 146.25 $ 146.25
Resldenlial charges 3,804,200.00 3,804,200.00 3,821,416.90 17,216.90
CommerCial charges 2,743.170.00 2,743,170.00 2,626,848.85 (116,321.15)
Other fees and charges 160,750.00 160,750.00 221,425.25 60,675.25
Miscellaneous 16,880.00 16,880.00 26,072.98 9,192.98
Investment revenue 108,000.00 106,000.00 136,991.70 28,991.70
Total revenues 6,833,000.00 6,833,000.00 6,832,901.93 (98.07)
EXPENDITURES
Current:
Contractual services 2,640,465.00 2,795,465.00 2,658,671.58 136,793.42
General operating expenses 365,996.00 366,242.67 388,953.21 (22,710.54)
Internal service expense 111,810.00 111,810.00 124,009.75 (12,199.75)
Material and supplies 1,362,169.00 1,342,548.26 1,082,286.64 260,261.62
Personnel services 282,335.00 282,335.00 245,085.19 37,249.61
Special projects expense 115,000.00 340,000.00 391,159.41 (51,159.41)
VI Tota! curren! 4,877,775.00 5,238,400.93 __4,890.165.78 348,235.15
Debt service:
Administrative charges 300.00 300.00 470.25 (170.25)
Interest 106,800.00 106,800.00 198,998.10 (92,198.10)
Issuance cost 211,000.00 147,368.75 63,631.25
Principal 965,000.00 965,000.00 965,000.00
Total debt service 1,072,100.00 1,283,100.00 1,311,837.10 (28,737.10)
Capital outlay:
Capijallmprovement Projects 327,000.00 237,000.00 206,270.46 30,729.54
Equipment 179,684.00 184,058.07 137,688.38 46,369.69
Other Capaal Expendftures 15,773.85 (15,773.85)
Total capftal outlay 506,684.00 421,058.07 359,732.69 61,325.38
Total expendftures 6,456,559.00 6,942,559.00 6.561,735.57 380,823.43
Excess (deficiency) of revenues
over (under) expendftures 376,441.00 (109,559.00) 271,166.36 380,725.36
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 10,377.20 10,377.20
Investment revenue 600.00 600.00 1,163.63 563.63
Special assessments 1,600.00 1,600.00 6,786.24 5,186.24
Bond proceeds 13,999,459.30 13,999,459.30
Asset disposKlon 11,650.00 11,650.00 19,088.74 7,438.74
TranSfers out (13,850,000.00) (13,855,446.28) (5,446.26)
Total other financing sources and uses and special Rems (13,636,150.00) 181,426.83 14,017,578.83 .
Net change in fund balances 390,291.00 (13,945,709.00) 452,595.19 14,398,304.19
Fund balances beginning 6,293,842.34 6,293,842.34 6,293,842.34
Prior period adjustment (4,223.64) (4,223.64)
Fund balances ending $ 6,742,213.89 $ 14,394,080.55
See Independent Audhors' Report.
--
City of Cape Girardeau
Solid Waste
Statement of Revenues. Expenditures. and Changes in Fund Balances -Budget and Actual
For the Year Eni:led June 30. 2012
Variance with
Budgeted Amounts Final Budget-
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental $ 15,882.00 $ 15,882.00 $ 13,594.39 $ (2,287.61)
Residential charges 2,185,952.00 2,185,952.00 2,141,609.20 (44,342.80)
Commercial charges 31,500.00 31,500.00 39,094.45 7,594.45
Transfer station charges 981,386.00 981,386.00 930,437.58 (50,948.42)
Other fees and charges 82,000.00 82,000.00 90,949.59 8,949.59
Miscellaneous 39,000.00 39,000.00 66,888.52 27,888.52
Investment revenue 22,500.00 22,500.00 26,599.57 4,099.57
Total revenues 3,358,220.00 3,358,220.00 3,309,173.30 (49,046.70)
EXPENDITURES
Current:
Contractual services 1,299,384.00 1,385,687.75 1,371,499.88 14,187.87 ..... .....
0\
General operating expenses
Internal service expense
33,326.00
188,558.00
32,992.67
326,058.00
36,475.74
345,158.52
(3,483.07)
(19,100.52)
Material and supplies 249,668.00 270,628.58 260,631.50 9,997.08
Personnel services 1,075,487.00 1,075,487.00 1,058,204.84 17,282.16
Special projects expense 109,000.00 109,000.00 124,095.74 (15,095.74)
Total current 2.955,423.00 3,199,854.00 3,196,066.22
Debt service:
Administrative charges 418.00 (418.00)
Interest 73,389.00 73,389.00 63,909.70 9,479.30
Principal 202,508.00 202,508.00 202,508.06 (0.06)
Total debt service 275,897.00 275,897.00 266,835.76 9,061.24
Capital outlay:
EqUipment 398,568.00 424,330.00 421,606.77 2,723.23
Other capital expenditures 32,907.00 32,476.41 430.59
Total capital outlay 398,568.00 457,237.00 454,083.18 3,153.82
Total expenditures 3,629,888.00 3,932,988.00 3,916,985.16 16,002.84
Excess (deficiency) of revenues
over (under) expenditures (271,668.00) (574,768.00) (607,811.86) (33,043.86)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 5,500.00 5,500.00
Asset disposition 98.750.00 98,750,00 92,030.00 (6,720.00)
Total other financing sources and uses and special items 98,750.00 98,750.00 97,530.00 (1.220.00)
Net change in fund balances (172,918.00) (476,018.00) (510,281.86) (34,263.86)
Fund balances -beginning 993,738.31 993,738.31 993,738.31
Fund balances -ending $ 820,82().31 $ 517,720.31 $ 483,456.45 $ (34,263.86)
+....ne* t:1Ql'"\nrt
City of Cape Girardeau
Golf Course
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30,2012
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES
User fees $ 492,650.00 $ 492.650.00 $ 455.738.50 $ (36,911.50)
Concession revenues 30,450.00 30,450.00 42,730.48 12,280.48
Miscellaneous 1.370.34 1,370.34
Investment revenue 1,125.00 840.21
Total revenues 524,225.00 .' 524,225.00 500,679.53 (23.545.47)
EXPENDITURES
Current:
Contractual services 21,390.00 21,390.00 20,428.29 961.71
General operating expenses 10,790.00 10,614.35 8,499.72 2,114.63
...... ......
-...J
Internal service expense
Material and supplies
Personnel services
49,513.00
96,686.00
384,781.00
49,513.00
106,536.65
386,931.00
40,601.18
111.655.45
387,335.18
8.911.82
(5,118.80)
(404.18)
Special projects expense 9,700.00 9.625.00 6,186.37 3,438.63
Total current 572,860.00 584,610.00 574,706.19 9,903.81
Debt service:
Interest 9,210.00 9,210.00 9,210.42 (0.42)
Principal 28,056.00 28,056.00 28,056.14 (0.14)
Total debt service 37,266.00 37,266.00 37,266.56
Capital outlay:
Other capital expenditures 10,000.00 9,224.00 776.00
Total capital outlay 10,000.00 9,224.00 776.00
Total expenditures 610,126.00 631,876.00 621,196.75 10,679.25
Excess (deficiency) of revenues
over (under) expenditures (85,901.00) (107,651.00) (120.517.22) (12,866.22)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 85,901.00 85,901.00 104,892.19 18,991.19
Asset disposition 15,723.42 15,723.42
Total other finanCing sources and uses and special items 85,901.00 85,901.00 120,615.61 34,714.61
Net change in fund balances (21,750.00) 98.39 21,848.39
Fund balances --beginning 14,494.79 14,494.79 14,494.79
FUnd balances -ending $ 14,494.79 $ (7,255.21) $ 14.593.18 $ 21,848.39
See Independent Auditors' Report.
City of Cape Girardeau
Softball Complex
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Budge~cI Amounts
Original Final Actual Amounts
REVENUES
Intergovernmental $ $ $ 162.49
User fees 167,810.00 167,810.00 183,113.20
Concession revenues 63,400.00 63,400.00 77,600.20
Miscellaneous 3,895.00 3,895.00 2,685.65
Investment revenue 450.00 450.00 726.46
Total revenues 235,555.00 235,555.00 264,288.00
EXPENDITURES
Current:
Contractual.services 29,969.00 27,719.00 27,661.60
General operating expenses 3:140.00 3,130.35 3,566.66 ...... ...... Internal service expense 32,693.00 32,693.00 29,589.32
00 Material and supplies 98,065.00 120,824.65 112,604.52
Personnel services 496,904.00 508,854.00 515,845.04
Special projects expense 35,042.00 37,042.00 42,337.56
Total current 695,813.00 730,263.00 731,604.70
Debt service:
Interest 6,909.00 6,909.00 6,908.77
Principal 17,467.00 17,467.00 17,467.14
Total debt service 24,376.00 24,376.00 24,375.91
Capital outlay:
Other Capital Expenditures 34,125.00
Total capital oullay 34,125.00
Total expenditures 720,189.00 788,764.00 755,980.61
Excess (deficiency) of revenues
over (under) expenditures (484,634.00) (553,209.00) (491,692.61 )
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 484,634.00 524,634.00 483,101.08
Asset disposition 8,631.87
Total other financing sources and uses and special items 484,634.00 524,634.00 491,732.95
Net change in fund balances (28,575.00) 40.34
Fund balances beginning 3,106.23 3,106.23 3,106.23
Fund balances -ending $ 3,106.23 $ (25,468.77) $ 3,146.57
Variance with
Final Budget
Positive
(Negative)
$ 162.49
15,303.20
14,200.20
(1,209.35)
276.46
28,733.00
57.40
(436.31)
3,103.68
8,220.13
(6,991.04)
(5,295.56)
(1,341.70)
0.23
(0.14)
34,125.00
34,125.00
32,783.39
61,516.39
(41,532.92)
8,631.87
(32,901.05)
28,615.34
$ 28,615.34
0.09
City of Cape Girardeau
Information Technology
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual Amounts ___(Negative)
REVENUES
Internal charges
Investment revenue
$ 411,940.00
2,250.00
$ 411,940.00
2,250.00
$ 411,940.00
3,030.69
$
780.69
Total revenues 414,190.00 414,190.00 414,970.69 780.69
...... ......
\0
EXPENDITURES
Current
Contractual services
General operating expenses
Material and supplies
Personnel services
Total current
Capital outlay:
Equipment
Total capital outlay
Total expenditures
121,255.00
3,600.00
68,808.00
145,527.00
339,190.00
75,000.00
75,000.00
414,190.00
130,565.00
4,290.00
77,808.00
178,577.00
391,240.00
75,000.00
75,000.00
466,240.00
111,811.98
3,519.54.
13,225.70
175,633.15
304,190.37
138,717.11
138,717.11
442,907.48
18,753.02
770.46
64,582.30
2,943.85
87,049.63
(63,717.11)
(63,717.11)
23,332.52
Excess (deficiency) of revenues
over (under) expenditures __(52,050.00) (27,936.79) 24,113.21
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
Total other financing sources and uses and special items
Net change in fund balances (52,050.00)
56,000.00
56,000.00
28,063.21
56,000.00
56,000.00
80,113.21
Fund balances beginning
Fund balances ending $
157,525.58
157,525.58
157,525.58
$ 105,475.58 $
157,525.58
185,588.79 $ 80,113.21
s'Report.
City of Cape Girardeau
Fleet Management
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Internal charges $ 1,201,500.00 $ 1,201,500.00 $ 1,401,702.34
Miscellaneous 1,619.30
Investment revenue 6,446.00 6,446.00 4,743.90
Total revenues 1,207;946.00 1,207,946.00 1,408,065.54
EXPENDITURES
Current:
Contractual. services 222,673.00 262,673.00 244,075.47
General operating expenses 4,850.00 5,044.00 4,746.30 ...... Intemal service expense 4,112.00 4,112.00 4,112.00tv
0 Material and supplies 313,030.00 421,213.28 432,523.13
Personnel services 625,406.00 625,406.00 631,659.59
Total current 1,170,071.00 __1_,318,448.28 1,317,116.49
Debt service:
Interest 237.06
Total debt service 237.06
Capital outlay:
Equipment 66,875.00 68,997.72 64,995.47
Total capital outlay 66,875.00 68,997.72 64,995.47
Total expenditures 1,236,946.00 1,387,446.00 1,382,349.02
Excess (deficiency) of revenues
over (under) expenditures (29,000.00) (179,500.00) 25,716.52
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset disposition 15,075.00 15,075.00 16,929.14
Transfers out (15,075.00) (15,075.00) (15,073.92)
Total other financing sources and uses and special items 1,855.22
Net change in fund balances (29,000.00) (179,500.00) 27,571.74
FUnd balances -beginning 45,880.08 45,880.08 45,880.08
Fund balances --ending $ 16,880.08 $ (133,619.92) $ 73,451.82
Variance with
Final Budget
Positive
(Negative)
$ 200,202.34
1,619.30
(1,702.10)
200,119.54
18,597.53
297.70
(11,309.85)
(6,253.59)
1,331.79
(237.06)
(237.06)
4,002.25
4,002.25
5,096.98
205,216.52
1,854.14
207,071.74
$ 207,071.74
1.08
REVENUES
Internal charges
Miscellaneous
Investment revenue
Total revenues
EXPENDITURES
Current:
Contractual services
...... Total current
tv ......
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances --beginning
Fund balances -ending
City of Cape Girardeau
Fringe Benefits
Statement of Revenues, Expenditures, and Changes in Fund Balances· Budget and Actual
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget.
Positive
Original Final Actual Amounts (Negative)
$ 2,987,093.00 $ 2,987,093.00 $ 3,401,605.31 $ 414,512.31
1,679.65 1,679.65
40,069.71 6,319.71
3,020,843.00 3,020,843.00 3,443,354.67 422,511.67
3,442,093.00 137,812.09
3,017,093.00 3,442,093.00 3,304,280.91 137,812.09
3,017,093.00 3,442,093.00 3,304,280.91
560,323.76
3,750.00 (421,250.00) 139,073.76 560,323.76
1,770,153.19 1,770,153.19 1,770,153.19
$ 1,773,903.19 $ 1,348,903.19 $ 1,909,226.95 $ 560,323.76
See Independent Auditors' Report.
REVENUES
Internal charges
Investment revenue
Total revenues
EXPENDITURES
Current:
Contractual services
General operating expenses
Material and supplies
....... Total current
IV
IV Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances -beginning
Fund balances ending
City of Cape Girardeau
Risk Management
Statement of Revenues, Expenditures, and Changes in Fund Balances· Budget and Actual
For the Year Ended June 30,2012
Budgeted Amounts
Original Final Actual Amounts
$ 568,000.00
23,700.00
591,700.00
$ 568,000.00
23,700.00
591,700.00
$ 588,694.76
26,919.65
615,614.41
557,200.00
32,000.00
2,500.00
591,700.00
591,700.00
607,200.00
32,000.00
2,500.00
641,700.00
641,700.00
512,633.86
23,569.65
536,203.51
536,203.51
(50,000.00) 79,410.90
(50,000.00) 79,410.90
1,379,349.98
$ 1,379,349.98
1,379,349.98
$ 1,329,349.98
1,379,349.98
$ 1,458,760.88
Variance with
Final Budget
Positive
(Negative)
$ 20,694.76
3,219.65
23,914.41
94,566.14
8,430.35
2,500.00
105,496.49
105,496.49
129,410.90
129,410.90
$ 129,410.90
City of Cape Girardeau
Equipment Replacement
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual
For the Year Ended June 30, 2012
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES
Internal charges $ 301,728.00 $ 301,728.00 $ 295,226.65 $ (6,501.35)
Investment revenue 24,750.00 24,750.00 22,338.40 (2,411.60)
Total revenues 326,478.00 326,478.00 317,565.05 (8,912.95)
EXPENDITURES
Debt service:
Interest
2,850.00 2,850.00
Principal 40,000.00 40,000.00
...... Total debt service 42,850.00 42,850.00
I'-.) w
Capital outlay:
Equipment 263,300.00 350,650.00 281,742.60 68,907.40
Total capital outlay 263,300.00 350,650.00 281,742.60 68,907.40
Total expenditures 263,300.00 _~93,50Q~ __ ~24,592.60 68,907.40 .
Excess (deficiency) of revenues
over (under) expenditures 63,178.00 (67,022.00) (7,027.55) 59,994.45
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in 30,000.00 10,537.87 (19,462.13)
Asset disposition 58,180.46 58,180.46
(5,500.00) (5,500.00)Transfers out
Total other financing sources and uses and special items
30,000.00 63,218.33 33,218.33
63,178.00 (37,022.00) 56,190.78 93,212.78Net change in fund balances
1,032,351.56 1,032,351.56 1,032,351.56Fund balances --beginning
Fund balances -ending $ 1,095,529.56 $ 995,329.56 $ 1,088,542.34 $ 93,212.78
See Independer
REVENUES
Ta)(es
Investment revenue
Total revenues
EXPENDITURES
Current
Development Services
Total current
Capital outlay:
...... Capitallmprovemenl Projects
tv . I""" T olal capita outlay
Total e)(penditures
E)(cess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances beginning
Fund balances -ending
City of Cape Girardeau
Riverfront Region Economic Development
Statement of Revenues, Expenditures, and Changes in Fund Balances· Budget and Actual
For the Year Ended June 3D, 2012
Budgeted Amounts
Original Final Actual Amounts
$ $ $ 250,000.00
5,086.41
255,086.41
12,050.79
12,050.79
12,050.79
243,035.62
243,035.62
$ $ $ 243,035.62
Variance with
Final Budget.
Positive
(Negative)
$ 250,000.00
5,086.41
255,086.41
(12,050.79)
(12,050.79)
(12,050.79)
243,035.62
243,035.62
$ 243,035.62
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECTION
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
4018 Sycamore
Cairo, Illinois 62914
Telephone(618) 734-3300
16 South Silver Springs Road
Cape Girardeau, Missouri 63703
Telephone (573) 334-7971
105 South Hope
Jackson, Missouri 63755
Telephone(573) 243-3991
Facsimile (618) 734-3303 Facsimile (573) 334-8875 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
We have audited the City of Cape Girardeau, Missouri's compliance, with the types of
compliance requirements described in the OMB Circular A-I33 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, 2012. 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 Standard'), issued by the Comptroller General of the United States; and
OMB Circular A-133, Audits oj' 5,'lales, Local G01'l!rnmenfs. and Non-Profit Organi::ations.
Those standards and OMB Circular A-1::;) require that vve plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirements
refelTed 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.
J25
In our opinion. City of Cape Girardeau. Missouri complied. in all material respects. with the
compliance requirements referred to ahove that could have a direct and material effect on each of
its major federal programs for the year ended June 30. ~O 12.
Internal Control Over Compliance
;v1anagement 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
detern1ine the auditing procedures for the purpose of expressing our opinion on compliance and
to test and report on internal control over compliance in accordance with OMB Circular A-J 33,
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 nonnal course of perfonning
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 intemal 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.
~/~, IJN !I ~;1..'-(
Cape Girardeau, Missouri
December 18, 2012
126
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Certified Public Accountants
16 South Silver Springs Road 105 South Hope4018 Sycamore Cape Girardeau, Missouri 63703 Jackson, Missouri 63755Cairo, Illinois 62914 Telephone (573) 334-7971 Telephone{573) 243-3991Telephone(618) 734-3300
Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ~ACCORD ANeE WlIlt GO ~'J;j?jjJ\;LENT A UDfllNG ~l;J/jJ)A RDS
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
We have audited the financial statements of the governmental actlvltles, 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, 2012, which collectively comprise City
of Cape Girardeau, Missouri's basic financial statements and have issued our report thereon
dated December 18, 2012. 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
Management of the City of Cape Girardeau, Missouri is responsible for establishing and
maintaining effective internal control over financial reporting. In planning and perfornling 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 011 the
effectiveness of the City of Cape Girardeau. Missouri's internal control over tinancial 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 misstakments 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 financial statements will not be prevented.
or detected and corrected on a timely basis.
127
Our consideration of internal control over financial reporting was for the limited purpose
descrihed in the first paragraph of this section and was not designed to identify all deficiencies in
internal control over financial reponing that might he 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.
~ompliance 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 Standard).
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.
~"~, ,(k ~ ~I..L.C.I
Cape Girardeau, Missouri
December 18,2012
128
Cit\' or Llp0 OirardcH1L .\ lissollri
SCHU)II J: OF L.\PI,smll 'UES ol FEDER, \1. \ W. \!ms
hllthc Y",ar Flltkd .IUIlG ~II, 2012
I',S. DEP:\R·lMEj\.;JJ:!lJ>IFFN)E
Loan or DOD PrOp0rl\ (non-cash)
US DEPARTMENT OF 1 lOUSING .\NO
URBAN DEVELOPI\IENT
Passed Through Missouri Depart111~nl of
Economic Development-
COllllllunif.\' ))~velopmenl Block Grants/
State's Program and Non-Entitkment
Grants III Hawaii
Passed Through !,Iissomi lkpm1ment of
Social Servic<ls
Emergency Shell"r Grants Program
Passed Through Missouri Housing Development
COll1mission
Home Investment Partnerships Program
TOTAL U.S, DEPAKPvlENT OF HOUSING Al\'D
URBAN DEVELOP.\IENT
IT,S. DEPARnlENT OF Jl:STICE:
Passed Through I\l1ssoufi Depm1ment of
Public Safety -
Vloknce Against Women FOl1nula Grants
Bul!etproof V~st Partnership Program
Passed Through fhe Citv of Poplar BlutT: I'vlissouri
Pass~d Ihrough the Soulh~asl f\1issouri Drug
Task F()rc~-
Public Sakt, Partnership and Com11lunit\'
Policing {frant,
.\RR.\ -Ed\\ard rhmc ~Icmorial Justice
,\ssistallcC Orant Program Cirant:; to UllIls of
I ncal ()(WCIl1ll10I1ts
TOT.\L I' S DEP.\RT\IE\;T OF .ltISTlO:
I c(kral
tTD\
12.
Prngram
$
14228
14.231
14.239
2004-ND·05
201O-DT-01
EROI640905
M-1 O-SG-29-0 1 00
M-II-SG-29-0100
$
$
27.050
110.000
306,-185
J32.S87
16.588
16.607
201O-VAWA-OOII-OS
20]0-VAWA-091-0S
NiA
$ 19.771
I $ 36,632
4.716
1(,710
2009-SB-B9-2229
1.852
The i\CCOlllpaJl\'ing \iotc.s 10 Sch~dule of F.\penditures of Eedcral c\ wards
\rc an Integral Part of This Report.
12<)
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Forthe Year Ended June 30,2012
Federal
CFDA Program
Federal GrantorlPass-Through Grantor Program Title Number Number Disbursements
U.S. DEPARTMENT OF TRANSPORTATION:
Passed Through Missouri Department of
Transportation
Highway Planning and Construction (I) 20.205 STP-1500(014) $ 10,335
JOI0767A DP-1503(003) 625,276
SRTS-NI-H300(502) 4,434
DP-1500(020) 18,350
STP-1500(021) 4,669 $ 663,064
Highway Safety Cluster:
State and Community Highway Safety 20.600 II-SA-09-2 $ 21,186
12-SA-09-002 36,972
I1-CP-09-1 90,684
12-CP-09-00 I 63,770
I1-PT -02-85 4.264
GAC035 1,853
12-0P-05-005 1,490 $ 220,219
Alcohol Impaired Driving Countermeasures
Incentive Grants I 20.601 II-K8-03-76 $ 2,036
ll-K8-03-77 1,920
SAF006 790
12-0P-05-002 $ 4,919
Alcohol Open Container Requirements 20.607 12-154-AL-031 $ 1,227
12-154-AL-029 $ 8,298
Child Safety and Child Booster Seats
Incentive Grants 20.613 SAF008 $ 386
TOTAL U.S. DEPARTMENT OF TRANSPORTATION $ 896,886
ENVIRONMENTAL PROTECTION AGENCY:
Passed Through Missouri Department ofNatural
Resources
Capitalization Grants for Clean Water State
Revolving Funds (l) 66.458 C295531-01 $ 199,000
ARRA -Capitalization Grants for Drinking
Water State Revolving Funds (I) 66.468 ER 1 0-ARRA-M040 1 0 136 $ 36,135
342,091 $ 378,226
ENVIRONMENTAL PROTECTION AGENCY, Carried Forward $ 577,226
The Accompanying Notes to Schedule of Expenditures of Federal Awards
Are an Integral Part of This Report.
130
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30,2012
Federal GrantorlPass-Through Grantor Program Title
Federal
CFDA
~
ENVIRONMENTAL PROTECTION AGENCY, Brought Forward
Passed Through Missouri Environmental Improvement
and Energy Resources Authority-
ARRA -Brownfields Assessment and
Cleanup Cooperative Agreement 66.818
TOTAL ENVIRONMENTAL PROTECTION AGENCY
U.S. DEPARTMENT OF ENERGY:
ARRA -Energy Efficiency and Conservation
Block Grant Program (EECBG) 81.128
U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES;
Passed Through the Community Caring Counsel
Substance Abuse and Mental Health Services-
Projects of Regional and National Significance
U.S. DEPARTMENT OF HOMELAND
SECURITY:
Passed Through Missouri State Emergency
Management Agency
Disaster Grants -Public Assistance (Presidentially
Declared Disasters)
Assistance to Firefighters Grant
Passed Through Missouri State Emergency
Management Agency
Citizen Community Resilience
Innovation Challenge
Law Enforcement Officer Reimbursement
Agreement Program
TOTAL U.S. DEPARTMENT OF HOMELAND
SECURITY
TOTAL FEDERAL AWARDS
(1) Identified major program.
93.243
97.036
97.044
97.053
97.090
Program
Number
N/A
G IO-EECBG-02-097939524
SDA42070104
#FEMA-1980-DR-MO
EMW-2007-FF-00 176
EMW-2008-FO-09141
EMW-2009-FO-09319
EMW-2011-FO-06441
20 IO-SS-TO-0039
2007-GE-T7-0034
2008-GE-T8-0014
HSTS0208HSLR050
$
$
Disbursements
$ 577,226
2,711
$ 579,937
$ 16.694
$ 3,850
$ 184,213
41,692
37,228
21,612
26,819 127,351
21,459
8,967
11,925 42,351
$ 38,594
$ 392,509
~ ,~~ ~2J
The Accompanying Notes to Schedule of Expenditures of Federal Awards
Are an Integral Part of This Report.
131
--
City of Cape Girardeau, Missouri
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL A WARDS
Year Ended June 30,2012
1. SUMMARY OF SIGNIFICANT ACCOlJNTING POLICIES
A. ~ose of Schedule and Reporting Entity:
The accompanying Schedule of Expenditures of Federal A wards has been prepared to
comply with OMB Circular A-l33. This circular requires a Schedule of Expenditures of
Federal Awards showing total expenditures for each federal financial assistance program
as identified in the Catalog of Federal Domestic Assistance (CFDA) and identification of
programs that have not been assigned a CFDA number as "Other Federal Assistance".
The schedule includes all expenditures of federal awards administered by the City.
B. Basis of Presentation:
The Schedule is presented in accordance with OMB Circular A-133, which defines
federal financial assistance " ...assistance that non-federal entities receive or administer in
the form of grants, loans, loan guarantees, property (including donated surplus property),
cooperative agreements, interest subsidies, insurance, food commodities, direct
appropriations, and other assistance, but does not include amounts received as
reimbursement for services rendered to individuals."
C. Basis of Accounting:
The Schedule is presented on the modified accrual basis of accounting, which recognizes
expenditures when liabilities for goods and services are incurred. This is the same basis
of accounting presented in the financial statements.
132
City of Cape Girardeau, Missouri
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the Year Ended June 30. 2012
1. SUMMARY OF AUDITORS' RESULTS:
Financial Statements
Type of Auditors' report issued: Unqualified
Internal control over financial reporting:
• Material weaknesses identified? ____ yes no
• Significant deficiencies identified that are not
considered to be material weaknesses? ,_,____ yes ~_none reported
Noncompliance material to financial statements
noted? __ yes
Federal Awards
Internal control over major programs:
• Material weaknesses identified? yes no
• Significant deficiencies identified that are not
considered to be material weaknesses? _._ yes ~~none reported
Type of Auditors' report issued on compliance for major programs: Unqualified
Any audit findings disclosed that are required to be
reported in accordance with Section 510(a) of Circular
A-I33? __ yes
133
Identification of major programs.
CFDA Number Name of Federal Program
20.205 Highway Planning and Construction
66.458 Capitalization Grants for Clean Water
State Revolving Funds
66.468 Capitalization Grants for Drinking Water
State Revolving Funds
Dollar threshold used to distinguish
between type A and type B programs: $300,000
Auditee qualified as low-risk auditee: .-lLyes __ no
2. FINANCIAL STATEMENT FINDINGS:
No findings or questioned costs were noted that are required to be reported.
3. FEDERAL A WARD FINDINGS AND QUESTIONED COSTS:
No findings or questioned costs were noted that are required to be reported.
134
City of Cape Girardeau. Missouri
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
For the Year Ended June 30. 2012
09-1 Noncompliance with Section 67.080. RSMo, no expenditure of public mOl1les
should be made unless it is authorized in the budget.
Status: Implemented.
135