HomeMy WebLinkAbout2007-2008.AuditReportCITY OF CAPE GIRARDEAU, MISSOURI
Cape Girardeau, Missouri
For the Year Ended June 30, 2008
ANNUAL FINANCIAL REPOR'P
BEUSSINK, HEY, ROE,
SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
Cl TY OF CAPE GIRARDEAU MISSOURI
TABLE OF CONTENTS
FINANCIAL SECTION
Pate No.
INDEPENDENT AUDITORS' REPORT
1-2
REQUIRED SUPPLEMENTARY INFORMATION
MANAGEMENT'S DISCUSSION AND ANALYSIS
3-16
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS
17-18
STATEMENTOF ACTIVITIES
19-20
FUND FINANCIAL STATEMENTS
GOVERNMENTAL FUNDS FINANCIAL STATEMENTS
BALANCE SHEET
21_22
,.
RECONCILIATION OF THE BALANCE. SHEETOF GOVERNMENTAL
FUNDS TO "I'HE STATEMENT OF NET ASSETS
23
S"I ATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES
24
.�
RFCONCILIAI ION OF THE S'l ATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
25
PROPRIETORY FUNDS FINANCIAL S"IATEMENTS
STATEMENT OF NET ASSETS
26-27
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN
FUND NET ASSETS
28
STATEMENT OF CASH FLOWS
29-30
FIDUCIARY FUNDS FINANCIAL STATEMENTS
STATEMENT OF NE"I ASSETS
31
NOTES TO BASIC FINANCIAL STATEMENTS
32-68
REQUIRED SUPPLEMENTAL INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL GENERAL
69
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
_
ACTUAL - AIRPORT
70
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL, - PARK & RECREATION
71
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - TRANSPORTATION SALES TAX
TRUST FUND II
72
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES 1N FUND BALANCES - BUDGET AND
AC"CUAL -TRANSPORTATION SALES TAX TRUST FUND III
73
NOTES TO BUDGETARY COMPARISON SCHEDULES
74-77
..
SCHEDULE OF FUNDING PROGRESS
78
SUPPLEMENTAL INFORMATION
STATEMEN-I OF REVENUES, EXPENDITURES, AND
CHANGES IN FEND BALANCES BUDGET AND
ACTUAL- VISION 2000
79
STATEMEN L OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL --CONVENTION AND TOURISM
80
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACI UAL - DOWNTOWN BUSINESS DISIRICT
81
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
AC"IUAL -HEALTH
82
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -MOTOR FUEL TAX 83
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - CAPITAL IMPROVEMENT SALES TAX -
FLOOD CONTROL 84
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL CAPITAL IMPROVEMENT SALES TAX -
WATER SYSTEM IMPROVEMENTS 85
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - TRANSPORTATION SALES TAX
TRUST FUND 86
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL CAPITAL IMPROVEMENT SALES TAX
SEWER SYS "PEM IMPROVEMENTS 87
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES- BUDGET AND
ACTUAL - FIRE SALES TAX FUND 88
STATEMENT OF REVENUES, EXPENDITL-RES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL PUBLIC SAFETY TRUST FUND 89
S'T ATEMF.NT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL -DEBT SERVICE 90
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL GFNERALCAPTTALIMPROVFMENTS 91
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL- STREET IMPROVEMENTS 92
SIA I EMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL PARK IMPROVEMENTS 93
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL - FAU GRANT PROJECTS
94
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL-COMMUNITY DEVELOPMENT BLOCK
GRANT PROJECTS
95
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES-BUDGET AND
ACTUAL-CORP FLOOD CONTROL PROJECTS
96
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL-HOUSING DEVELOPMENT GRANTS
97
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUALSEWER98
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL- WATER
99
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -- BUDGET AND
ACTUAL SOLID WASTE
100
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL-GOLF COURSE
101
STA-FEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL-SOFTBALL COMPLEX
102
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - MANAGEMENT INFORMATION SYSTEMS
103
STATEMENT OF REVENUES. EXPENDTFLIRES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL - FLEET MANAGEMENT
I04
STATEMENT OF REVENUES, F.XPENDTLURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL FRINGF. BENEFI"IS
105
STATEMENT OF REVENUES, EXPENDITURES, AN
CHANGES IN FUND BALANCES -- BUDGET AND
ACTUAL -RISK MANAGEMENT
106
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL- EQUIPMENT REPLACEMENT
107
STATEMEN"F OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL- PARK IMPROVEMENTPROJECFS
FROM PARKS/STORM WATER SALES TAX
108
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECT ION
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
109-110
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
,.
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMLNTA UDITING STANDARDS
111-I12
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
113-115
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
116
SCHEDULE OF FINDINGS AND QUESTIONED COS I'S
117-118
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
119
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
4018 Sycamore 16 So. Silver Springs Road 105 So. Hope
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703 Jackson, Missouri 63755
Telephone (618) 734-3300 Telephone (573) 334-7971 "telephone (573) 243-3991
Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
TND EPENDENT 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, 20087 which
collectively comprise the City's basic financial statements as listed in the table of contents.
These financial statements are the responsibility of the City's management. Our responsibility is
to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. 'Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business -type activities, each
major fund, and the aggregate remaining fund information of the City of Cape Girardeau,
Missouri as of June 30, 2008, and the respective changes in financial position, and cash flows,
where applicable, thereof for the year then ended in conformity with accounting principles
generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated
January 12, 2009, on our consideration of the City's internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The propose of that report is to describe the scope of our testing
of internal control over financial reporting and compliance and the results of that testing, and not
to provide an opinion on the internal control over financial reporting of on compliance. That
report is an integral part of an audit performed in accordance with Government Auditing
Standards and important for assessing the results of our audit.
I
The management's discussion and analysis and budgetary comparison information on pages 3
through 16 and 69 through 77 are not a required part of the basic financial statements but are
supplementary information required by accounting principles generally accepted in the United
States of America. We have applied certain limited procedures, which consisted principally of
inquiries of management regarding the methods of measurement and presentation of the required
supplementary information. However, we did not audit the information and express no opinion
on it.
Our audit was conducted for the purpose of Conning opinions on the financial statements that
_ collectively comprise the City of Cape Girardeau, Missouri's basic financial statements. The
combining and individual nonmajor fund financial statements arc presented for purposes of
additional analysis and are not a required part of the basic financial statements. The
accompanying Schedule of Expenditures of Federal Awards is presented for purposes of
additional analysis as required by U.S. Office of Management and Budget Circular A-133, Audas
of States, Local Governments, and Non -Profit Organizations, and is also not a required part of
the basic financial statements of the City of Cape Girardeau, Missouri. The combining and
individual nonmajor find financial statements and the Schedule of Expenditures of Federal
Awards have been subjected to the auditing procedures applied in the audit of the basic financial
statements and, in our opinion, are fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
90Nom, Z -e, <c- Sfn/ea c.c.c.
Cape Girardeau, Missouri
January 12, 2009
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF CAPE GIRARDEAU. MISSOURI
Management's Discussion and Analysis
I'he discussion and analysis of the City of Cape
Girardeau', financial performance provides an
overall review ofthe City's financial activities
for the fiscal year ended June 30, 2008. The
totcn( of this discussion and analysis is to look at
the City's financial performance as a whole_
Readers should also review the basic financial
statements and related notes to those statements
to enhance their understanding of the City
financialperformancc
-
o During the current year the City's bond rating
was upgraded by Standard and Poor's to
'A i" from "A'.
o The City of ( ape Girardeau's total long-term
debt decreased by $5,483,521.79 (8.0
percent) during the current fiscal year as a
result of the City making its scheduled
payments and not issuing any new debt.
Overview ofthe Financial Statements
'chis discussion and analysis are intended to
serve as an introduction to the City of Cape
Girardeau's basic financial statements.
The City of Cape Ginardeau'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
mmerew of the City of Cape Gimrdeau's
finances, in a manner similar to a private -sector
business_
'I he statement of net assets prese,us information
on all the C1ity's assets and liabilities, with the
difference between the two reported as net
assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether
the financial position ofthe Cary is improving or
deteriorating.
'Ihe 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 ofthe 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 Doused
vacation leave).
Both of the govemnrcnt-wide financial
statements distinguish functions ofthe City of
Cape Girardeau that are principally supported by
taxes and intergovernmental revenues
Financial Highlights
o The assets of the City of Cape Girardeau
exceeded its liabilities at the close of the most
recent fiscal year by $215,906,658.32 (net
assets). Ofthis amount, $38,950,224.15
(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 serfage Girardeau's governmental funds
reported combined ending fund balances of
$30.003,189.28. Approximately 47.4 percent
of this total amount, $14,227,584.48 is
available for spending at the government's
discretion (unreserved fund balance).
o At the end of the current fiscal year, the
unreserved fund balance for the general fund
was $419,072.42 or 1.8 percent of total
general fund expenditures and transfers.
Fund balance reserved for emergencies for
the general fund was $3,219,219,00 or 13.8
percent of total general fund expenditures and
transfers. During the year an emergency was
declared and the City Council unanimously
approved the use ofthe balances reserved for
emergencies to pay for expenduse es totaling
$249,360 that resulted from a severe ice
storm and purchase of generators for City
hell and the City's community center.
o The City off ape Girardcau's fi.eed assets
decreased $46,447.07 during the year_
Depreciation for the current fiscal year
reduced fixed assets by 59,168,524 02. 1 his
reduction was almost meetly offset by
59,122,076.95 of net fixed asset additions
during the yeas
o During the current year the City's bond rating
was upgraded by Standard and Poor's to
'A i" from "A'.
o The City of ( ape Girardeau's total long-term
debt decreased by $5,483,521.79 (8.0
percent) during the current fiscal year as a
result of the City making its scheduled
payments and not issuing any new debt.
Overview ofthe Financial Statements
'chis discussion and analysis are intended to
serve as an introduction to the City of Cape
Girardeau's basic financial statements.
The City of Cape Ginardeau'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
mmerew of the City of Cape Gimrdeau's
finances, in a manner similar to a private -sector
business_
'I he statement of net assets prese,us information
on all the C1ity's assets and liabilities, with the
difference between the two reported as net
assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether
the financial position ofthe Cary is improving or
deteriorating.
'Ihe 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 ofthe 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 Doused
vacation leave).
Both of the govemnrcnt-wide financial
statements distinguish functions ofthe City of
Cape Girardeau that are principally supported by
taxes and intergovernmental revenues
CITY OF CAPE GIRARDEAU, MISSOURI
(goverunental activities) hourother 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,
developmental services, parks and recreation,
public safety, and public works. The business -
type activities of the City include sewer, water,
and solid waste utilities and golf course and
softball complex operations. The government -
wide financial statements can be found on pages
17 to 20 of this report.
Fund financial statements. A fund is a
grouping of related accounts that is used to
maintain cannot over resources that have been
segregated for specific activities or objectives.
'The City of Cape Girardeau, like other state and
local governments, uses fiord accounting to
ensure and demonstrate compliance with
finance -related legal requirements. All of the
tunds of the City can be divided into three
categoriesgovemmental funds, proprietary
funds, and fiduciary funds.
Governmental Funds. Governmental funds are
used to account for essentially the same
functions reported as govenmiental activities in
the government -wide financial statements.
However, unlike the govemment-wide financial
statements, 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 govenument's near-term
financing requirements.
Because the focus of the go, enunental funds is
narrower than that of govemment-wide
tinancial statements, it is useful to compare the
attenuation presented for gavemmcrdal funds
with similar infomnation presented for
govenunental activities m the govemment-wide
financial statements. By doing so, readers may
better understand the long-term impact of the
govenuuent's near term financing decisions.
Both the govcrmmcartal fund balance sheet and
the govermnental hand statement of revenues,
expendilmes, and changes in fund balances
provide a occonciliation to facilitate this
comparison between governmental funds and
govemmental activities.
'rhe City of Cape Girardeau maintains 26
indi, doaI covet renental funds. Information is
presented separately in tike gmerrmtenlal fund
balunce sheet and in the governnrenral fund
statement of revenues, expendimies, and changes
in fund balances for the general, airport, parks
and necrcanon, transportation trust 11, and
transportation [Hist III, which are considered, or
have been designated, to be major fiords of the
City. Data from the other governmental funds
are contained into a single, aggregated
presentation.
The City of Cape Girardeau adopts annual
appropriated budgets for all its govemmental
funds excluding its avatar system improvements
and park improvements from parks / storm water
sales tax 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.
"I he basic govemmental fund financial
statements can be found on pages 21 to 2i of this
report.
Proprinary 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 sod enterprise funds to account for its
sewer, water, and solid waste utilities and its golf
course and softball complex operations- Internal
service foots are an accounting device used to
amunnulate and allocate costs internally among
the City's various functions_ The City uses
internal set ,ac funds to account for operation of
its management information systems, fleet
management, self-insured employee benefits and
tvorkmcu s conpensatton programs, and its
internal equipment leasing program.
Proprietary fiords provide the same type of
iufarmation as the govemment-wide financial
statements, only in more detail The proprietary
food financial statements provide separate
information for the scwm, water, and solid waste
utilities and golf course and softball complex
operations. All of (base are considered, or have
been designated, to be major funds of the City_
The internal service funds arc combined into a
single, aggregated presentation in the proprietary
food financial statements.
The basic proprietary ford financial statemems
can be hoard on pages 26 to 30 of this report.
CITY OF CAPE GIRARDEAU. MISSOURI
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.
4 h notes to the financial statements can be
found beginning on page 32 of this report
Government -wide Financial Analysis
As noted earlier, net assets may serve over time
as a useful indicator of a gocemment's financial
position. In the case of the City of Cape
Girardcaq assets exceeded liabilities by
$215,906,659, an increase of 57,718,254 (3.7%).
The largest portion of the City's not assets
(77 9%) reflects its $168,148,331 investment in
capital assets (land, buildings, machinery, and
equipment); less related debt used to acquire
those assets that are still outstanding. This net
investment increased $2,949,833 (1 8%) during
the current fiscal year. The City uses these
capital assets to provide services to citizens;
consequently, these as's'ets 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 fiom 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
extemal restrictions on how they may be used.
the portion of the City's net assets subject to
external restrictions was $28,743 (.3%) less than
the previous year. The remaining balance of net
assets ($38,950,224) is unrestricted and may be
used to meet the City's ongoing obligations to
citizens and creditors. Thus reflects a $4,797,164
(14.0%) 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
go onomental and business -type activities. The
same situation was nue of the prior year.
City of Cape Girardeau's Net Assets
Governmental Business -type
_2008
2007
2008
_
2007
2008
2007 _
Current and other assets
3],356,399
36690.562
14,955,466
14450,319
52,311,065
51,140,881
Capital assets
139,183,129
138107396
93,327,5]5
94449,]55
232,510,]04
232.557,151
Total assets
1]6,539,528
1]479],958
108283.041
108,900,074
284,822,569
283,698,032
tone -terms Drees outstandog
27,478,600
29,538,450
29 323.667
33,569,714
56,802,267
63,108,164
Other liabilities
5682,485
6,872,457
6431.158
5,529,006
12,113,643
12401463
Total liabilities
33,161,085
36,410907
35,754,825
39,098,]20
68,915,910
75,509,627
Net asset,
Invested in capital assets,
Net of related debt
10]]45,365
10],130,950
60,402966
58,067,548
168,148,331
165 198498
Restricted
4,728,902
4968,283
4,079,292
3,868,564
8,808,104
8,836,847
llnrestrlcted
30,904,1]6
26,28],818
8,046,048
7855,242
38,950,224
34,153,060
Total net assets
143378443
138,38],051
72,528216
69,801,354
215,906.659
208,188405
CITY OF CAPE GIRARDEAU, MISSOURI
Governmental activities. Governmental activities increased the City of Cape Girardeau's net assets by $4,962,682
(compared to 52,637,263 in the previous fiscal year) thereby accounting for 643 percent of the total growth in the
net assets of the City. Increases in net investments in capital assets during the fiscal year accounted for $614,415 or
12.4% 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
2008 2007 2008 2007
Revenues:
Program revenue
Charges for service
4,]08,030
5,866,096
4,667,316
2,829,532
Operating grants and
2933,006
3,020,002
592,446
contributions
1096,]]8
530,141
100(,949
484,485
Capital grants and
936
15,]90,]69
(530,573)
contributions
1800,663
69801.354
1,]30,928
1278,387
General revenues.
1,362309
3,391,]95
3,374,755
Property taxes
1,878,043
11,367,478
1,7]2,069
Sales taxes
19,442199
19,343,694
5,]69,156
Other taxes
8,101,466
2933,006
],]09,212
3,020,002
Other
1,828,812
614,910
1,864,013
Total revenues
38,855,991
38,088,181
Expenses:
Administrative
7,195,551
6,981,067
Capital) mprovetnems
412,001
299940
Development Services
1,80845]
1,9486]0
Interest and other costs
1,2]8,38]
1,362,389
Parks and Recreation
3,391,]95
3,374,755
Public Sefoty
11,231,]89
11,367,478
Public Works
5,]45,81]
5,584,858
Sewer
-
Water
-
Solld Waste
-
Golf Course
-
-
Softball Conches
-
-
Total expenses
31,063.]7]
30,919,957
Increase in net assets
before transfers
7792,214
],168,224
Transfers
(2.029,532)
13,530961)
Increase in net assets
4,962,682
3,637,263
Net assets -beginning of year
138,387,051
57,436,642
Prior period adjustments
28710
]],313,146
Net asset, end of year
143 378,443
138,30]
051
tl
12,46],619 12,022492
101,738
1,550,464 1,525,845
744,391 692,078
14.864,212 14,240415
509],18]
(5].]24)
5,866,096
5,]69,156
2,829,532
5,805276
2933,006
3,020,002
592,446
1,980,607
614,910
530,141
484,485
14,921
936
15,]90,]69
Total
2008 200]
17,1 ]5.649 16,611
1.198.516 1.000.949
3351.12] 3256.773
1,878,043
(5].]24)
(1 550,354)
19,442,199
2,829,532
19,343, 694
3.530,961
2,771,808
2,573,203
1,980,607
2,556,091
69,801354
68,351.320
7,195,551
(44,946)
(530,573)
]2,528,216
1,808,457
69801.354
1,948,6]0
Total
2008 200]
17,1 ]5.649 16,611
1.198.516 1.000.949
3351.12] 3256.773
1,878,043
1772,069
19,442,199
19,343, 694
8,101,466
],]09,212
2,573,203
2,556,091
53,720,203
52,328,596
7,195,551
6,981,08]
412,001
299,940
1,808,457
1,948,6]0
1278,387
1,362309
3,391,]95
3,374,755
11,231,769
11,367,478
5,]45,81]
5,584,058
5,09],187
5,866095
5,]69,156
5,005,2]6
2933,006
3,020,002
592446
614,910
530,141
464,485
45,905,713
46,]10,]26
]734,490 5,61].8]0
],]34,490 5,617,870
208,188,405 125 787 962
(16,236) 76782,573
215,906,659 200.188,405
CI'T'Y OF CAPD GIRARDEAU, MISSOURI
Activity in the following revenue and expense items should be noted for the current fiscal year:
Revenues front governmental activities
• Charges for service only increased $40,714 (9%) over the previous year. During the year municipal court and
airport rental revenues decreased $85,163 (8.8%) and 14,250 (6.4%, respectively, from revenues earned in the
previous year Significant increases from the previous year were. (1) aviation fuel sales at the airport were tip
$68,684 (5 9%), (2) park and recreation user and rental fees were up $39,464 (6.2%) and (3) assessment
revenue was up $25,284 (244.8%)-
Municipal Court revenue was negatively impacted by a 24.2% reduction in Iraffc cases handled this year. Lease
revenue from the manufacturing facility located on the airport premises declined $16,000 (29.1%) this year.
Two additional months ofrentals were deferred this year At the end of the current year $209,000 or 16 months
ofrental payments have been deferred on this facility during the past two years_
Prices of the fuel sold at the airport were increased to reflect higher costs during the year Across the board
increases were implemented for park and recreation fees during the year. Usage fees at the City's Cenral pool
declined $12,503 (93%) this year as a result of the pool being closed to replace a major pump. During the
current year $37,020 in special assessments were issued to cover the cost of demolishing buildings on four
properties- At the end of the year only $4,150 of these new assessments had been paid.
• Operating grants and contributions were $95,829 (9.6% more than the previous year, Grants and contributions
used for the police and the fire department programs totaled $89,733 (18.7c)) less than the previous year, while
giant revenues used for neighborhood redevelopment totaled $67,683 (42.4%) more than the previous year, In
the previous year a grant subsidizing the cast of an additional commercial round trip to St. Louis totaled
$169,607. Vo revenue was received Imm this grant during the current year_ During the current year the City
received S278,929 is rcimbuncments from SHMA and FEMA related to clean-up casts of 3 weather relates(
events_
• Capital grants and contributions increased $69.735 (4.0%) over the previous year In the current year $899,917
of donated assets and mfia,u retire were recorded. This was $206,060 (29.7"o) more than the previous year.
Benefiting property owners were charged $48,375 for a not of this year's infrastructure costs. This was
$73,359 (60.P` t) less than the previous year The remaining giant and contribution revenue was $852,371
'Inch as $62,966 (6.9%) Icss than the previous year.
• property is, revenue was $105,974 (6.040) more than the previous year Assessed value of real estate increased
$46,664.940 (12 5%) over the previous year. New construction and annexations accounted for $6,160,230
(13.2"/") and $4,719,9 10 (10.1°t) of this increase, respectively_ Assessed value of personal property iacocased
$33 18,576 (3 4",';)over the previous year. The City was required by state law to reduce its Icvy rate by 4 G"/o
during the current year as a result its assessed value growth
• Sales tax revenue was 520% of tile lural le, core during the current year vs. fit .8"6, in the previous year. 'this
year's revenue was only 598,505 (5%) more Than the previous year Prom fiscal year ending ,lune 30, 2005
through fiscal year ending .Imm 30, 2007 sale rax revenue had annual growth rates of 1.7%, 4.1 l) and 2.8%.
respectively. During the first weekend in August customers can purchase limited amounts of school supplies,
clothing, and computers without being charged sales tax_ It is estimated that the holiday may reduce annual
rcvcnue by as much as .25%,
CITY OF CAPE GIRARDEAU, MISSOURI
Revenues from governmental activities (continued)
• Other, (axes increased $392,254 (5.1 %) over the previous year, Convention and tourism taxes, business license
taxes, franchise (axes, and other taxes grew $77,880 (4 9%), $63,709 (5.8%), $356,564 (10.9%), and 513,219
(8.7%) respectively_ Motor fuel taxes and liquor licenses decreased $114,954 (7.6%) and $4,164 (6.4%).
"The increase in the convention and tourism taxes was comprised of a $55,983 (5.4%) increase in restaurant
taxes and a $21,897 (3.9'% hrores se in hotel / motel taxes. 75.7%ofthe total franchise tax was collected from
Ameren based on its electricity and natural gas revenues, I his year's revenue brain Ameren decreased 52,121
(.1%) over the previous year. The current year's revenue from Ameren was negatively impacted by
approximately $100,000 as a result of a rebate given to its natural gas customers during the year.
The bulk of the increase in franchise tax revenue resulted from a $334,877 increase in rev cones collected from
telecommunication service providers. In previous years the City collected taxes from only the main local land
based sen -ice provider In the current year, as a result of settlement of a state-wide law suit, the City began
collecting taxes from all teleconununication service providers. Approximately 64.4% of the $362,377 in
telecommunication related franchise taxes received this year was for previous years' back taxes.
1. November of the current year the State began withholding from its monthly motor fuel tax distribution to the
City amounts that had previously bern overpaid to the City in error during the three previous years. This
additional withholding, which will occur over a 32 month period, was the driving factor in this year's motor fuel
(ax reduction.
• Other revenue decreased $35,201 (1.9%) over the previous year. Investment earnings, which account Cor 94.6%
of other revenue, decreased $9412 (.5%). Revenue from sale of assets decreased S35,236 (44.1 %) over the
previous year, while unrestricted giant and contribution revenue increased 56,215 (153%).
Expenses from governmental activities
'�
• Administrative expenses increased $213,684 (3.1"/o) this year. The city's payment to the Southeast Missouri
State University related to the "River Campus Project" increased 565,892 (6.0%) to $1,17L001 this year. The
"River Campus Project' is ajoint City/University project in which the City agreed to make payments on bonds
issued by the University to fund $8 9 million of constrr¢tan costs related to a campus, performance center, and
museum on property that oversees the Mississippi Riverhe campus began operating in the fall of 2007. The
total cost of the project exceeded $60 million_
(anent revenues collected tram 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 fimd vat tons tourism related project,. During the
current year the City spent 5167,467 on such projects, a decrease of S7,877 (45`7) over the previous year. At
the end of the current year there was still 5597.075 available for expenditure on future tourism related projects.
During the previous year the City subsidized an additional St. Louis round trip by its commercial carrier This
grant funded subsidy costing $212,405 ended during that year. During the current year the City incurred
expenses related to 3 various storm or flood events costing $312,730. 'The City received $244,731 of federal and
stale disaster aid related to these expenditures.
Expenditures for the cost of resale fuel at the City's airport was $103,750 (11.0°h) higher this year compared to
the previous year.
CITY OF CAPE GIRARDEAU, MISSOURI
Expenses from governmental activities (continued)
Capital improvements increased $I 12,061 (37.4%) this year. This to street and other capital projects
that did net net the City's $5.000 capitalis.atfon threshold (the amount at which the expenditure would be
recorded as a capital asset).
• Development services expenses decreased $140,213 (7.2%) this year. During the current fiscal year the City
made economic development payments totaling S 115,267 as reimbursements on development agreements
entered into in previous fiscal years. These payments were $34,778 (23.2%) less than the previous year.
During the current fiscal year the City spent $21,167 for professional services to complete its strategic pian.
y This was $81,489 less than the $102,656 spent for professional services last year when it updated its digital
maps and began developing a strategic plan.
the City spent $40,000 (57.2%) and 558,649 (29.4%) more this year than the previous year for its public transit
system and neighborhood redevelopment projects, respectively. During the current year the City also spent
$10,000 in support of the dream initiative for Downtown redevelopment and $12,500 for production services
for the public access channel. In the previous year nothing was spent on these two items.
Development services personnel costs decreased 5138,328 (13-0%) this year over the previous year Key factors
for this reduction were improved workmen's compensation and health claims experience and the allocation of
more pet sonnel costs to capital projects of the City. Personnel costs are charged to the City's capital projects
based on hours worked and total hourly costs.
• Interest and other costs were $84,002 (6 2%0 less than the previous year Only scheduled principal and interest
payments were made during the year. No additional debt was issued.
• Parks and recreation expenses only increased $17,040 (.5%) this year. During the year two significant repair
costs totaling $10,132 and $42.232 were incurred for sewer repair at the Arena building and pump replacement
at the Central pool, mspecrvcly. These costs were offset by personnel costs which decreased $65,535 (3.2%) as
a result of improved workmen's coropernahoir and health claims experience during the year.
• Public safety expenses decreased $135,709 (1 2%) this year Personnel costs decreased S 173,201 (1.9°b) despite
a $282,072 (4.2'%) increase in salary expense this year A$559,525 (4 LO%) decrease in workmen's
compensation and health costs resulting from improved claims expe$ence during the year more than offset the
increased salary expense_
r
Crant funded operating expenses decreased $51,333 (309'%) during this year. During the previous year the City
spent $72152 on grant funded communication equipment for the police depmancon Other significant cost
decreases during the current year were- ( I ) 51,876 (322"/0) for small capital purchases (2) $26,512 (0 sciu) for
dangerous building demolition and (3) $25,000 (100.0% for support of regional crime lab that was
drecontinued in the previous year.
Significant cost increases during the current yen were depreciation and vehicle fuel which increased S 134562
(28 24%) and 552,321 (30.2%), respectively.
Public works expenses increased $160,959 (29%) this year. Depreciation increased 5216,277 (6.0%) while
personnel costs' docrcaserl $86.823 ( 10996). Key factors for this reduction were improved workmen's
compensation and health claims experiencu
CITY OF CAPE GIRARDEAU, MISSOURI
Ihe chart below illustrates the surplus or net subsidy required for different key City programs
f --.__ _ ___
svtba
mom �
ae _� —
sang wave
sary el . .
wafer
wmc em,a
wekcars,
nn.,a Ree,eai n
re -1 g,amsary
nIn-leak¢
Itax are ],oaoae a,ist.ce em" In, rsetNo Ilra Wo 111.,10 12.000,Cas
The illustration above makes it clear that all the governmental anteing and business -type activities of the City with
the exception of water and solid waste required a subsidy by taxpayers. General revenues in these activities, which
include transfers from special revenue sales taxes, were sufficient to provide adequate subsidies for both the
governmental and business -type activities.
Revenues by Source —
Governmental Activities
The ]fail to the right sununarizes the sources of
revenue from government activities. 'Igte duce
main sources of revenue and their share of total
govenmtental revenues are sales tax (50.0%),
other taxes (20.8%) and charges for services
12.1%).
I lie City's general sales tax represents 44.9
percent of the total sales tax revenue and 46.6
percent of the total general fund revenues. 'Ihe
remaining sales taxes are for transportation,
sewer, water, and public safety projects.
The general fund accounts for 62,0% and 49.4
of the other tax and senlce charge revenue
respectively_ This represents 27.0%and 125%
of out general Burd revenues respectively.
10
I Rueonues for governmental
activities
Omar ia.
-,
P
sales roes
a5
en. ane/ P�arpelm
use
0
vo^w 1e1e
CITY OF CAPE GIRARDEAU, MISSOURI
Business-tvoe activities. Business -type activities
increased the City of Cape Girardeau's net assets
by $2,771,808 (compnred to $1,980,607 in the
pre, tons fiscal year). Excluding transfers from
govemmunt activities, business -type net assets
decreased $57,724 and ,$1550,354, respectively,
during the last two years. These decreases were
offset by transters from governmental activities
totaling $2,829,532 and $3,530,961, respectively,
during the past two years.
(routers of sales tax revenue for bond payments
totaling $2,198,604 and operating subsidy transfers
hem the general fund totaling 5472,744 make up
77 7% and 16 7'. of this year's total transfers,
respectively. Last year these transfers totaled
$2,155,715 and $414,050, respectively and
represented 61.1% and 11.7 % of that year's
transfers. Transfers of avatar system improvements
from the capital projects fund decreased $527,913
from the previous year to $38,184 this year.
The net change in assets before transfers and
general revenues in the sewer, water, solid waste,
golf, and softball operations totaled $(737,275),
$168,835, 202,608, $(132,568), and $(303,715).
respectively, this year. This compares te,
$(2,099,137),.$374,752.5(79,209).$(134,784),
and $(304,053), respectively, in the previous
year.
Revenues for business -type activiies
asoro.
v cs-mm
ou.
Financial Anah'sts of the Cry's Funds
As noted earlier, the City of Cape Girardeau uses
fund accounting to ensure and demonsn'ate
r. compliance with finance -related log aI
requireruen Ls.
Governmental funds, The focus of the City's
govermrnental 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 requirementsin
particular, unreserved fund balance may serve as a
useful measure of the City s net resources available
for spending it the end of fiscal year.
As of June 30, 2008, the City's governmental funds
reported combined ending fund balances of
$30,003,189, an increase of $1,122,263 (3.9%) from
the prior year. Approximately 47.4 percent
($14,227,584) constitutes unreserved fired balance,
which is available for spending at the City's
discretion. The remainder of the fund balance is
reserved to indicate that it is not available for new
spending because it has already been continued 1) to
meet the City's Charter required emergency reserves
($4,175,042), 2) to fund purchase orders open at the
end of the year ($9,736,698), 3) to set aside fund
balance not currently available for expenditure equal
to long-term loans due Four other City funds
($1,077,450),4) to pay debt service ($255,361), and
5) restricted to a specific use (5531,054).
the general fund is the chief operating Find of the
City. At the end of fiscal year ending June 30, 2008,
unreserved fund balance of the general fund was
$419,072 wtitle total fund balance was $5,189,680.
As a measure of the general fund's liquidity, it may
be useful to compare both unreserved fund balance
and total food balance to total fund expenditures.
Unreserved Erred balance represents only 1 8 percent
of total general fund expenditures including transfers.
I loweveq included in die reserved fired balance is
$3 211,219, which had been reserved to meet the City
Charter's emergency reserve requirement, Phis
amount represents 13.8 percent of total general fund
expenditrues including nunsfers and could be used if
an emergency was declared by the City Council.
'I he Gove,mnentel Funds Statement of fee, tonic,
Expenditures, and Changes in Fund Balance shows that
the fund halancc of fee City of Cape (outudeau's
general Fund decreased by $355,801 during the current
fiscal year. Che General Fund Statement of Revenues,
Expenditures, and Changes of Fund Balance prepared
on a budge( basis shows current fiscal year decrease of
$538,396. Differences between the amounts reflected in
Ilie hvo statements can be Lound to Note A Section 6 of
the notes to the financial statements.
12
C1 FY OF CAPE GIRARDEAU, MISSOURI
The original adopted general fund budget for the
projected for the budget. The adopted budget
fiscal year ending June 30, 2008 was balanced
for fiscal year ending ,lune 30, 2008 had
with the projected use of $29,972 in accumulated
assumed 3% growth on projected revenue for
fund balances from previous years. "Che actual
fiscal year ending June 30, 2007.
general fund results decreased fund balances by
$538,396. Significant deviations from this
o Real estate and personal property tax
budget am detailed below:
revenue increased $112,788 (7.b(%) over the
previous year which was $68,411 (4.5%) more
o Sales tax revenue was $49,802 (.6%)
than projected for the budget.
gr cater than the previous year, which was
5272,943 (3.0%) less than projected for the
Assessed values for real estate and personal
adopted budget. This resulted from less
property were 12A x and 3.5% more,
than expected growth in the previous fiscal
respectively, this year than the previous year,
year and 2.4 percent less Than expected
The adopted budget for fiscal year ending June
growth in the current fiscal year.
30, 2008 had assumed 25% and 4.0% assessed
value growth respectively.
o Franchise tax revenue was 5356,565
(10.9x) more than the previous year. The
o Other license and permit revenue was
main facror far this mem.se was a
$1,813 (1.0%) higher this year than the
5334,877 (121770) increase in revenues
previous year which was $49,119 (20.6%) less
collected from telcutmmunicatian service
than projected for the budget. The adopted
providers resulting from a change from the
budget for fiscal year ending June 30, 2008
previous year in how the tax was applied-
projected revenues based on increased building
and construction permit fees.
Previously the City collected taxes from
only the main local land based smite
o Internal charges were 523,682 (2.8(le)
provider. In the current year, as a result of
greater than the previous year which was
settlement of a state-wide law suit, the City
$75,325 (7,91%) less than projected in the
began collecting taxes ttonn all providers of
budget.
telecommunication service, Approximately
$233,500 of the teleconnmunicalion related
o 'this year's intergovernmental revenue
franchise taxes received this year was for
included $289,527 in disaster relief pay mints
previous yearstaxes.
from state and federal agencies resulting from
variaus natural disasters durinu the year_ I hese
Franchise tax revenue was 5310,083
payments caused revenues to exceed budgeted
(9.3%) more than projected for the adopted
revenues by38 0%($275,151).'fotal
,.
budget. Franchise taxes from electric and
intergovernmental revenue was $10,233 (1,4%)
natural gas utilities, telecommunications,
Tess this year than the previous yea,.
,and cable'I'V exceeded their budgets by
$25,583 (.9 / ), $252,377 (229.4%), and
o During the current fiscal year expenditures
$31,350 (9.0:0).
were $427,021 (23%) mora than original
budget Current and capital expenditures
o Fines and forfeits revenue was $71,068
exceeded the original budget by 5249,153
(S,3%) less than the previous year which
(13x) and $178,211 (no amount was
was $132,652 (14.5%) less than projected
budgeted). Debt service expenditures were .$343
for the budget The edoptrd budget for
(.2%) less than the original budget.
fisc a] ycut ending Iune30. 2008 bad
assumed 3% revenue growth over actual
o Transfers to other funds for operating
revenue for 12 months ending January 31,
expenditures and capital expenditures exceeded
2007. Traffic casco proccs'scd by the
their original budgets by $342,853 (8 WTT) and
Municipal Court were 24.17% less this
57,080 (28.3""%,) respectively. Additional
year compared to the previous year.
Transfers to the airport fund accounted for
5322,659 of the additional operating transfers.
o Business license revenue increased
$6.1,709 (5 8%) over the previous year
which was S41 450 (3 7(%) more than
12
CITY OF CAPE GIRARDEAU, MISSOURI
proprietary funds. The City of Cape Gii ardeau's
expenses. Excluding the land cost, all costs
enterprise fiords are all presented as major funds
were funded by insurance proceeds, donations,
for purposes of this report. As a result, all
end grant revenues.
statements related to the enterprise finds are
presented at the govermentwidelevel. The
o $95.000 for final paymcm on option to purchase
City does have Internal Service funds, which are
land next to public works headquarters included
reported in the fund statements.
in public works capital outlay expenses.
General Fund Budgetary Highlights
o $44,430 for purchase .1-construction equipment
and pickup trucks from the City's enterprise
Total expenditures and transfers on the final
funds included in public works capital outlay
».
amended budget were $1,652.147 (7.3%) more
expenses.
than the original adopted budget. The changes
can be sununarized as follows.
o $67,180 for purchase of co istruction
equipment and pickup trucks from the City's
o $72,680 to cover the cost of completing the
enterprise funds included in parks and
City's comprehensive plan, additional fuel
recreation capital outlay expenses.
costs, and additional payments to Cape
County Transit Authority for operation of
o $400,000 general fund transfers to airport. parks
the City's bus system included in current
and recreation, golf and softball complex funds
development services expenses
to cover the costs of projected operating
deficits.
o $73,300 to cover additional personnel,
utility, fuel, maintenance, equipment rental,
o $10,000 general fund transfer to housing
minor equipment, and vandalism costs
development grant fund to cover local match of
included in current parks and recreation
neighborhood improvement grant
expenses.
Excess general fund revenues and unrestricted fund
o $17,650 to cover additional legal and
balances were used to Find all appropriations that
actuarial expenses included in current
did not have an identified finding source,
administrative expenses.
Capital Assets and Debt Administration
o 5772,735 to cover additional personnel,
fuel, and other operating expenses of the
Capitol Assets. The City of Cape Girardeau's
police and fire divisions included in current
investment in capital assets for its governmental
public safety expenses. The additional
and business-type activities as 01 Rine 30, 2008,
other operating expenses, which totaled
amounts to $232,510,704 (net of accumulated
537,035, were funded by grant and
depreciation). This investment in capital assets
donation revenue
includes all land, buildings and system
improvements, machinery and equipment, and
o $24,706 w cover additional personnel,
intrasnuc(ure owned by the Cay.
street lioht electricity and fuel expenses
included in current public works expenses.
City Capital Assets
o $624,334 to cover additional costs
associated with sinkhole mitigating flash
X111.
Handing, river flooding'an ice storm
se a110
that occurred during the year which are
included in current Contingent expenses.
o $50,132 to Cover the costs of new
'.
"DARE" vehicle, replacement police
.......'�
vehm
icle, land, and small equipment
GA a11e o masm,le
included in public safety capital outlay
oc-111111
13
CITY OF CAPE GIRARDEAU, MISSOURI
City of Cape Girardeau's Capital Assets
(net of depreciation)
-Major capital asset events during the current
fiscal year included the following:
o Construction costs totaling 54,031,1 IS on
approved transportation sales lax projects
were incurred this year. This tax was
originally approved to complete a specific
list of street projects, which also included
amounts for street repair and overlay,
sidewalk constmction and repair, and
street light installation and upgrades.
o Conso action costs totaling $318,852 on
water system projects were incurred this
year. Major water system tnlprovements
included the esploration for a new water
source in the southern part of the City,
adding water main extensions and the
mo -inch water main replacement
program
-
o $111.115 in costs was also incurred on
street projects not included on the
transportation sales tax list of projects.
o Constirl costs totaling $290,640 mere
incurred for other improvements. These
projects included completing Ilse
renovation of the old Mississippi River
Bridge, traffic signal upgrades, parking lot
improvements in the downtown area,
replacement of airfield signaler, and the
rchabihtation ofthe fuel farm pavement at
the aitpelt
14
o Construction casts totaling approximately
S 114,500 were also incurred on flood and
storn water control projects.
o Construction costs totaling 5703,710 on sewer
system projects were incurred this year. A
capital improvement sales tax was originally
approved in 1994 to complete a specific list of
improvements to the sewer system. Over
$31,350,000 in revenue bonds have been
issued through the State Revolving Loan
program to complete these projects. Most of
the projects on the list are now complete. At
the end of the year, only the South Idamscy
Branch ll Station was not complete.
it Police and lire station intpmverae its in the
amount of S 1 16,550 were mnde possible by
the passage of a Piro Sales Tax. Also funded
Be this tax was the construction of a new fire
station. Current year expenditures on this
project amounted to $102,469.
o Total expenditures to remodel the aviation
ternunal building at the Airport amounted to
S496,456. 'This was partially funded by grunt
revcome
Additional information about the City's capital assets
can be found in note D of this report.
Governmental
Businesstype
Actives
Activities
Total
2008
2007
2008 _
2007
2008
200]
Land
4,948,851
4,939630
151,990
161,990
5,110,841
5,101,620
.
Buildings and
system
Improvements
12,006,556
12,348075
2401,870
2,613362
14,408,426
14,961437
Improvements
other than
buildings
10,438,168
10,148266
85.308300
87049,447
96,746,458
9],197,713
Equipment
4367
125
4242,008
3,002,885
2,936,843
7,370,010
7,178,851
Infrastructure
103,172,322
104,337,991
-
-
103,172,322
104,337,991
Construction in
progress
4250,107
2,091,426
1,452,530
1,588,113
5,702,637
3,779,539
Total
139,183,129
138,107,396
93,327,575
94449,755
232,510,704
232,557,151
-Major capital asset events during the current
fiscal year included the following:
o Construction costs totaling 54,031,1 IS on
approved transportation sales lax projects
were incurred this year. This tax was
originally approved to complete a specific
list of street projects, which also included
amounts for street repair and overlay,
sidewalk constmction and repair, and
street light installation and upgrades.
o Conso action costs totaling $318,852 on
water system projects were incurred this
year. Major water system tnlprovements
included the esploration for a new water
source in the southern part of the City,
adding water main extensions and the
mo -inch water main replacement
program
-
o $111.115 in costs was also incurred on
street projects not included on the
transportation sales tax list of projects.
o Constirl costs totaling $290,640 mere
incurred for other improvements. These
projects included completing Ilse
renovation of the old Mississippi River
Bridge, traffic signal upgrades, parking lot
improvements in the downtown area,
replacement of airfield signaler, and the
rchabihtation ofthe fuel farm pavement at
the aitpelt
14
o Construction casts totaling approximately
S 114,500 were also incurred on flood and
storn water control projects.
o Construction costs totaling 5703,710 on sewer
system projects were incurred this year. A
capital improvement sales tax was originally
approved in 1994 to complete a specific list of
improvements to the sewer system. Over
$31,350,000 in revenue bonds have been
issued through the State Revolving Loan
program to complete these projects. Most of
the projects on the list are now complete. At
the end of the year, only the South Idamscy
Branch ll Station was not complete.
it Police and lire station intpmverae its in the
amount of S 1 16,550 were mnde possible by
the passage of a Piro Sales Tax. Also funded
Be this tax was the construction of a new fire
station. Current year expenditures on this
project amounted to $102,469.
o Total expenditures to remodel the aviation
ternunal building at the Airport amounted to
S496,456. 'This was partially funded by grunt
revcome
Additional information about the City's capital assets
can be found in note D of this report.
CITY OF CAPE GIRARDEAU, MISSOURI
City of Cape Girardeau's Outstanding Debt
Year ended 2008
Governmental Businesstype
2008 2007 2000 2007 2008 2007
Notes payable 1,264,375 1,336,625 485,625 513,375 1,750,000 1,850,000
Special
obligation
bonds 7,270,161
Revenue bonds 18.485.931
Certificates of
participation 2,365,258
General
obligation
bonds -
Leasehold
8,062.549 379,012 567,750 7,649,173 8,630,299
19687,084 32,660,905 35,904,088 51,146,836 55,391,172
2,490,318
2,365,258 2,490,318
revenue bonds 108,000 141,000 108,000 141,000
29,493,725 31,517,576 33,525,542 36,985,213 63,019,267 68,502,789
Long-term debt, At the end of the fiscal year,
the City of Cape Girardeau had total debt
outstanding of 563,019,267. Bonded debt
outstanding totaling $51,146,836 is secured by
revenues of the sewer and water funds and
capital improvement sales taxes. The repayment
of the remaining debt is subject to annual
appropriations.
The City's total debt decreased by $5,483,522
(8 o%) during the year, During the past year the
City made all normally scheduled payments and
did not enter into any new debt.
Mote information about the City's outstanding
debt can be found in note E to the financial
statements
-
Economic loetors and the Next Year's Budget
Cammeecial and ,oidendal devclopmcnt slowed
during the current year Commercial and
residential per valued at 528.8 million and
$12.5 millimt were issued this year. Commercial
and residential permits valued at$33 0 nation
and $2T5 million core issued in the previous
year Only 50 single family residence building
permits were issued during the current year. This
was a 43.2% decline tion the previous year.
15
The Cape Girardeau County preliminary unadjusted
unemployment rate was 4.6% no October 2008.
This compares favorably with the preliminary
statewide and national unadjusted unemployment
rates which were of 6.I% each. The unemployment
rates were 4.1 % and 5.1'% for the county and state
respectively for the previous October
Growth ofretail butes slowed this year. Since the City
is heavily dependent on sales tax revenue for support
of its general fund services, slowed growth of local
retail sales can have a significant impact on the City's
ability to fund services in the future.
The state Hancock Amendment requires the City
obtain simple majo rty voter approval to increase any
permit or license fee that is not based on actual costs
to the user and riricdy loans the City's ability to
increase its real estate and personal property lax
levies to support its general sen ices such as police
and fire pmtecGon. The City Charter requires voter
approval to increase sewer, water, and solid waste
fees by more than 59,r, in any year. All other user fees
can be adjusted In cover actual costs
-
Slowing mnonil Sales tax is a significant revenue
seciec of the City and is a barometer of the local
economy- In fire current year sales tax revenue only
increased S , while inflation grew at 3.5%. In the
previous year sales tax revenue increased 2.8% while
inflation grew at 2 7% Sales tax is contracting at a
1 5%, pace during the first five months of the current
2009 fiscal year
CITY OF CAPE GIRARDEAU, MISSOURI
'Phe City's restaurant and hotel motel gross
receipt taxes increased 5.4% and 3.9°vo,
respectively, this year. In the In year they
increased 9A% and 63%, respectively.
Regional retail center. Through most of the
1990'$ 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 oftlre retail market to other cities in the
region as these cities added additional retail
outlets in their communities.
The previous table, which includes the City of
Cape Girardeau and significant retail centers
within a 50 mile radius, shows the percentage of
estimated sales made by each City to the total
estimated sales of the five cities- Since tire fiscal
year ending June 30, 2005 the ('try's share of the
local market has remained fairly stable.
Local Lcommrriic Development, In 2004 the City
entered into 21ong-term development
agreements to reimburse companies for the
public improvements associated with 2 retail
development projects from the additional sales
tax generated Born those projects
In 2007 the C'try entered unto a development
agreement with the owner of facility fixmerly
leased by a Sears retail outlet to reimburse them
for costs associated w,Ih the conversion of
former Sears facility title a call centerfor
National Asset Recover Services (NARS) and
other various hnproventents, such as faoadc
improvements, purling facilities, roof
ieconstnrclion, and 11% AC enhancements. Thcsc
costs will be t'e,mbarsed from inerentental sales
tax from a development arca which includes the
former Sears facility, revenues b'om Community
hnproventent District which includes the Scars
facility, and savings from real estate tax
abatements over the next 25 year on the Sears
facility and improvements to the Scars facility.
16
Beginning in year six of the agreement, 50%of the
gross rentals from the NARS site will be used to
supplement the incremental sales tax revenues.
Retmborscmcnts from incremental City sales tax
revenue will be limited to $1,028,520.
Payment made by the City pursuant to these
agreements totaled $115,267 during the current year.
Payments totaling $430,551 have been made since
the beginning of these agreements.
Budget for Fiscal year ending Juse 30.2009 and
Financial condition In April of 2008 the citizens
passed a %% parks 'storm water sales tax which
became effective October L 200x. 25% of the new
sales tax will be used for parks and storm water
operating expenses. The adopted budget for the fiscal
year ending June 30, 2009, which includes the impact
of the new sales tax, was balanced with the use of
537,899 in fund balances from previous years.
The adopted budget included nand -year 2% wage
increases and included projected revenue based on
reasonable revenue assumptions.'Flie City has
subsequently substituted a 5600 per employee
payment for the 2% wage increase in response to
slow revenue growth during the first part of the year.
The approved budget projected adequate revenue to
cover its projected personnel and operating costs.
Capital costs were covered by fund balances, special
purpose sates taxes, and enterprise fund revenues.
The current budget's health costs appear to have
stabilized as a result of a change to a more consumer
based health coverage beginning January I, 2008.
Charges required to fund maximum estimated claims
will only increase 6.6%beginning January I, 2009,
The City's atrzenl financial position is strong is that
it has nmre than adequate fund balance to cover
existing claims and potential emergencies. However,
its financial condition or its ability to provide enough
reoccurring revenues to meet its reoccurring needs is
still less than destrabh, I adding of equipment for the
general and airport hinds, excluding police, fire, and
various park divisions is still inadequate.
Requests for IN'ormation
Phis financial report is designed to provide a general
overview if the City ofCape Cumbrou'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 mm,matmo should be addressed to the
Finance Director, City of Cape Girardeau, PO Box
617, Cape Girardeau, MO 63702-0617.
SALES TAX COMPARISON
FY05
FY06
FY07FY08
Cape Girardeau
41.1%
40.6%
40.9%
412%
Carbondale
27.8%
29.0%
28.4%
286%
Jackson
9.7%
9.9%
10.2%
9.9%
Perryville
72%
7.0%7.1
l
7.1 %
Sikeston
14.2%
13.5%
13A%
13.2%
100.0%
100.0%
100.0%
100.0%
The previous table, which includes the City of
Cape Girardeau and significant retail centers
within a 50 mile radius, shows the percentage of
estimated sales made by each City to the total
estimated sales of the five cities- Since tire fiscal
year ending June 30, 2005 the ('try's share of the
local market has remained fairly stable.
Local Lcommrriic Development, In 2004 the City
entered into 21ong-term development
agreements to reimburse companies for the
public improvements associated with 2 retail
development projects from the additional sales
tax generated Born those projects
In 2007 the C'try entered unto a development
agreement with the owner of facility fixmerly
leased by a Sears retail outlet to reimburse them
for costs associated w,Ih the conversion of
former Sears facility title a call centerfor
National Asset Recover Services (NARS) and
other various hnproventents, such as faoadc
improvements, purling facilities, roof
ieconstnrclion, and 11% AC enhancements. Thcsc
costs will be t'e,mbarsed from inerentental sales
tax from a development arca which includes the
former Sears facility, revenues b'om Community
hnproventent District which includes the Scars
facility, and savings from real estate tax
abatements over the next 25 year on the Sears
facility and improvements to the Scars facility.
16
Beginning in year six of the agreement, 50%of the
gross rentals from the NARS site will be used to
supplement the incremental sales tax revenues.
Retmborscmcnts from incremental City sales tax
revenue will be limited to $1,028,520.
Payment made by the City pursuant to these
agreements totaled $115,267 during the current year.
Payments totaling $430,551 have been made since
the beginning of these agreements.
Budget for Fiscal year ending Juse 30.2009 and
Financial condition In April of 2008 the citizens
passed a %% parks 'storm water sales tax which
became effective October L 200x. 25% of the new
sales tax will be used for parks and storm water
operating expenses. The adopted budget for the fiscal
year ending June 30, 2009, which includes the impact
of the new sales tax, was balanced with the use of
537,899 in fund balances from previous years.
The adopted budget included nand -year 2% wage
increases and included projected revenue based on
reasonable revenue assumptions.'Flie City has
subsequently substituted a 5600 per employee
payment for the 2% wage increase in response to
slow revenue growth during the first part of the year.
The approved budget projected adequate revenue to
cover its projected personnel and operating costs.
Capital costs were covered by fund balances, special
purpose sates taxes, and enterprise fund revenues.
The current budget's health costs appear to have
stabilized as a result of a change to a more consumer
based health coverage beginning January I, 2008.
Charges required to fund maximum estimated claims
will only increase 6.6%beginning January I, 2009,
The City's atrzenl financial position is strong is that
it has nmre than adequate fund balance to cover
existing claims and potential emergencies. However,
its financial condition or its ability to provide enough
reoccurring revenues to meet its reoccurring needs is
still less than destrabh, I adding of equipment for the
general and airport hinds, excluding police, fire, and
various park divisions is still inadequate.
Requests for IN'ormation
Phis financial report is designed to provide a general
overview if the City ofCape Cumbrou'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 mm,matmo should be addressed to the
Finance Director, City of Cape Girardeau, PO Box
617, Cape Girardeau, MO 63702-0617.
BASIC FINANCIAL STATEMENTS
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2008
Primary Government
Governmental
Business -type
Activities
Activities
Total
ASSETS
Cash and cash equivalents
$ 3,594,654.97
$ 269,818.86
$ 3,864,473.83
Invesmisms
25,855,118.25
5,077,89169
30,933,009.94
Taxes receivable
3.422,534.15
-
3,422,534.15
Utility charges receivable
-
1,441,367.14
1,441,367.14
Special assessments receivable
1,192,560.60
185,379.16
1,377,939.76
Interest receivable
235,756.41
10,930.36
246,686.77
OUermceivables
247,409.56
27776
247,687.32
Notes receivable
279,574.96
-
279,574.96
Motor fuel receivable
119,772.15
-
119,772.15
Grants receivable
658.432.94
74,902.57
733,335.51
Internal balances
1,024,534.02
(1,024,534.02)
-
Inventory
236,712.66
428,298.72
665,011.36
Prepaid items
489,338.08
450,514.73
939,852.81
Restricted cash and cash equivalents
-
4,753,326.01
4,753,326.01
Restricted investments
-
3,287,292.91
3,287,292.91
Land
4,948,850.95
161,989.55
5,110,840.50
Buildings
12,006,555.48
2,401,869.91
14,408,425.39
Other improvements
10,438,168.38
86,308,300.14
96,746,468.52
Equipment
4,367,125.29
3,002,885.37
7.370,010.66
InfrasWccure
103,172,322.09
-
103,172,322.09
Construction in process
4,250,107.10
1,452,529.97
5.702,637.07
Total assets
$ 176,539,528.02
$ 108,283,040.83
$ 284,822568.85
1 i 1 1 1 1 { 1 1
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2008
Primary Government
Governmental
Business -type
Activities
Activities
Total
LIABILITIES
Accounts payable
$ 1,127,174.60
$ 826,565.87
b 1,953,740.47
Saltines and benefits payable
1,335,982.00
256,528.18
1,592,610.18
Interest payable
519,884.22
547204.74
1,067,088.96
Other liabilities
203,756.84
507.69144
711,448.28
Estimated claims
381,500.00
-
381,500.00
Due to other governments
30,699.18
9,31769
40,016.87
Unearned revenues
68,363.97
-
68,363.97
Defamed revenues
-
17,874.63
17,874.63
Estimated landfill post closure costs
-
64,000.00
64,000
00
Current portion long-term debt:
-
Notes payable
36,125.00
13,875.00
50,000.00
Revenue bonds payable
1,025,000.00
3.993,000.00
5,018,000.00
o' Certificates of participation payable
130,000.00
-
130,000.00
Leasehold revenue bonds payable
34,000.00
-
34,000.00
Special obligation bonds payable
790,000.00
195,000.00
985,000.00
Long-term debt net of current portion:
Notes payable
1,226,250.00
471,750.00
1700,000.00
Revenue bonds payable
17,460,931.25
28,667,905
05
46,128,836.30
Certificates of participation payable
2,235,257.55
-
2,235,257.55
Leasehold revenue bonds payable
74,000.00
-
74,000.00
Special obligation bonds payable
6,480,160.85
164,012.47
6,664,173.32
Tolal liabilities
33 161 085,46
35754,825.07
68.915,910
53
NET ASSETS
Invested in capital assets, net of related debt
107,745,364.89
60.402
966
01
168,148,330.90
Restricted for debt service
255,363.00
1,086,666.67
1,34202967
Restricted for depreciallon and replacement
-
1,307.000.00
1307,000.00
Restricted for emergency fund
4,175,042.00
1,585,535.00
5,860,57700
Restricted for Mausoleum
100.068.41
-
100,068.41
Restricted for River Campus Project
151
-
150,393.57
Restncted for Local Access Channel
19,070.54
-
19,070.54
Restricted for Operation and Maintenance
28,964.08
-
28,964.00
Unrestricted
30,904,176.07
8,046,04608
38,950,224.15
Total net assets
$ 143.378,442 56
$ 72,520,21576
$ 215,906,658.32
I 1 1 1 1 1 1 1 t 1 1 1 i 1 ! i 1 i i
City of Gape Girardeau
Statement of Acttrhies
For the Year Ended June 30, 2008
Net (Espense) Revenue and
_
pro
I.. R..O.s
CIrwjEsin Net As -!s
Prlmery Government
Capllal Great.
PunctlonelPrograms
chergesft,
Operating Grants
and
Govettrmentai
Business -r"
_`
EzpenSes
Sarnoea
and
Contributions
Gontributlons
Activities
Activities
Total
Primary gevemmwd
Governmental activities'.
Administralve
$ -,195,650.78
6 2036991`6
$
439.082.19
$ 937,H9.at
3 (3.882,203.02)
S -
$ (38B2,X8.02)
CeP1lel Improvements
412,001.26
(412001.20)
bevelopment Servtoes
1,808,458.72
1,035,]78.65
228.798.09
_
(54.1889.98)
-
-
(412,00126)
{543.881,98)
interest and older costs
1,278,38746
(1276,397")
-
(1,2-8,39).48)
Parks and Recreation
3.391 79464
67276374
371184
19305442
(2542,259,64)
-
(2.542.25964)
Pool, Saw,
11 ,231 769 12
952,9%,69
391,126W
26,351,00
{9.861,295 .43)
-
{986i 195431
Public works
5,745,617.12
91500.00
34061.98
763,98290
(4.938,272.24)
-
(4,938,27224)
Total governmental w0vtoo^,31063777.104708,03024
�
1096,778.10
1,800662.1'.
(23 658 306 0;0
_
(23450306 Q3I
6wiine5st1l Activities'.
GORGo vse
59$44602
454,12356
5,15500
-
-
(132,%7A6)
(132,567-467
Sewer
5097,186.84
2,976,361.95
70,296.07
1,313253.40
-
(737,27542)
(737,275.42)
Sontag complex
530.14082
182587.54
18397
43.568.77
(30171454)
(303,71454)
Sort, wash
2933,00654
3,109,31688
17,553.38
8,74200
-
202,00'772
202,60772
Water
5769,161555
5,744,52709
8.564.08
104,899.39
166835.01
168,83501
Tota, lartle.,,r. 111ralles
14921935.77
12467419.62
_.
1047l�5C
= 16W 463,J6iS62
ttA5b')
Total wdooy govemment
545.985.11287
$11175,60.418
$
1.t985ib.80
S 3,111,126 29(23,4!18.30603)
{802,91459]
{2,4,280.429 12}
City of Cape Girardeau
Statement of Activities
For Me Year Ended June 30, 2000
Net (Expense) Revenue and
Program Revenues
Chances In Net Assets
Primary Government
Capital Grants
Charges for Operating Grants
and
Governmental
Business -type
Functionaprograms
Expenses Service a ad Contributions
Contributions
Activities
Activities
Total
Primary government:
Governmental activities:
General revenues:
Piopegy taxes
1,878,042 94
1,878,042 94
Sales taxes
19,442,19913
-
19,442,199.13
FrancMse lases
3629,083.18
-
3,629083 18
Motor fuel nares
1,40],09832
-
1407,098.32
Convention and teunsm lazes
1,672,15533
-
1,672.15533
Memhant l'menses
1,166,94906
-
1,180,949.86
Liquor licenses
6040375
-
6040375
Other taxes
165,77595
165,77595
Unrestroted grants and conlnbutions
46,23226
-
46,232.26
Unrestricted inveshment samings
1730914.27
654,638.74
2,385,55301
IJ
Gain on sale of assets
44,53285
89,251.94
134.284.80
Other nonbpelating revenue
7132.00
-
7,131
Transfers
(2,829 531 93)
2,829,531.93
Total general revenues
2842098797
3573,922.61
31994,910.58
Changeln net assets
4962,681.94
2.771,80792
7,73448986
Net assets - beginning
138,302,05101
69.801,354 20
208,188 405 21
Pnor period adjustment
20709.61
(44.94(1.36)
(1623675)
Net asset,- ending
S 143328442.56
$ 72 528 21516
8215,906,65632
I 1 1 1 1 1 1 1 1 ! ► 1 1 It i 1 1 1 1
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2008
Other
Total
Park
and
Trans Sales Tax
Trans Sales Tax
Governmental
Governmental
General
Airport
Recreation
Trust Fund II
Trust Fund III
Funds
Funds
ASSETS
Current assets:
Cash and cash equivalents
$ 649,504.58
$ 3,603.14
$ 9,362.96
$ 278,130.80
$ 338,786.32
$ 2,141,656.21
$ 3,421,044.01
Investments
1,309,717.88
69,138,91
179,322.69
5,314,724.31
6,486,898.19
8,952,151.54
22,311,953.52
Receivables -
Real estate taxes, net
41,275.56
-
-
-
-
11,538.89
52,81445
Personal property taxes, net
13,950.83
-
-
-
-
2,611.98
16,562.81
Saks tax
74Q338.33
-
-
-
362,958.25
551233.32
1,654,529.90
Franchise taxes
1,548,233.42
-
-
-
-
-
1,548.23342
Hotel 8 motel tax
-
-
-
-
-
57,091.71
57,091.71
Restaurant tax
-
-
-
-
-
93,301.86
93,301.86
Special assessments
135.33500
-
-
239,738.74
-
817,486.86
1,192,560.60
N Other
45,064.86
127,420.28
47,774.88
-
-
20,275.23
240,535.25
Interest
197,428.05
-
-
-
-
38,328.36
235,756.41
Motor fuel lax
-
-
-
-
-
87,101.85
87,101.85
Vehicle license fees
-
-
-
-
-
12,345.22
12,345.22
Motor vehicle sales tax
-
-
-
-
-
20,325.08
20.325.08
Grants
335,314.20
151,368.43
16.10
-
41.082.52
128,286.09
656,06734
Other funds
42.890.00
-
-
-
-
-
42,890.00
Inventory
11743
44,541.02
-
-
-
2,313.36
46971.81
Prepaid Items
77,377.86
46,629.33
5,764.54
102,783.49
232.55522
Total Current assets'.
5,136,548.00
442,701.11
242241.17
5,832,593.85
7,229.725.28
13,038,831.05
31,922,640.46
Noncurrent assets:
Advances to other funds
1,077,450.24
1 0771450.24
Total Noncurrent assets
1,077,450.24
1,077,450.24
Total assets
$ 6213.998.24
$ 442,701.11
$ 242,241.17
$ 5,832,593.85
$ 7229,72528
$ 13,038,831.05
$ 33,000,09070
1 i 1 i i i 1 1 1 1 1 1 1 1 1 1 1 1 i
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2008
Other
Total
Park and
Trans Sales Tax
Trans Sales Tax
Governmental
Governmental
General
Airport
Recreation
Trust Fund II
Trust Fund III
Funds
Funds
LIABILITIES AND FUND
BALANCES
Current liabilities:
Accounts payable
$ 322,249.02
$ 206.1611
$ 74,782.09
$ 879071
5 179,735.39
$ 100,56826
$ 892,294.26
Salaries and benefits payable
366,254.48
20,242.14
57,237.34
-
-
3,106.09
446,840.05
Other liabilities
127,999.04
46,140.83
29,533.38
-
-
-
203,67325
Due to other governments
321.45
477.60
-
-
-
2,206.64
3,005.69
Payable to other funs
-
-
-
-
-
42,890.00
42,890.00
Unearned revenues
11,816.22
18,840.00
37,707.75
-
-
-
68,363.97
Deferred revenues
195,677.62
239,731
904,417.84
1,339,834.20
Total Current liabilities.
1,024,317.83
291,869.36
199.260.56
248,529.45
179,735.39
1,053,188.83
2,996,901.42
N
N Non current liebl0des:
Advances from other funds
Total Non current liabilities:
Total liabilities
1,024,31183
291,869.36
199.260.56
24$529.45
179.735.39
1,053,188.83
2,996,90142
Fund balances:
Reserved
4,770,607.99
106,231.35
37428.67
4,444,525.88
3,962.195.92
2,454,614.99
15,775.604.80
Unreserved
419,072.42
44,600.40
5,55194
1,139,538.52
3,087,793.97
9,531,027.23
14,22158448
Total fund balances
5,189,680.41
150,831.75
42,980.61
5,584,064.40
7,049,989.89
11,985,64222
30,003.189.28
Total liabilities and fund
balances
$ 6,213,998.24
$ 442.701.11
$ 242,241.17
$ 5,832,593.85
$ 7,229,725.28
$ 13,038.831.05
$ 33,000,090.70
I 1 1 1 1 1 1 i 1 i 1 1 i 1 1 k 1 1 i
City of Cape Girardeau
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Assets
For the Year Ended June 30, 2008
Fund balances of governmental funds
$ 30,003,189.28
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 cunent
(28,906,304.3])
period and therefore are not reported in the funds.
Capital assets used in governmental activities are not financial resources and
138,062,456.84
therefore, are not reported in the funds, net of accumulated deprecia0on of
$49,829,955.06.
Internal service funds are used by management to charge the casts of management
4,239,105A2
information systems, fleet management, employee Binge benefits, workmen's
compensation, and equipment replacement to individual funds.
Other long-term assets are not available to pay for current period expenditures and,
1,339.834.20
therefore are deferred In the funds.
Other accrued expenses which are not payable from current -period revenues
(1,359,838.81)
are included in governmental activities In the statement of net assets.
Net assets of governmental activities
$ 143.378.442.56
I 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 1 t 1
Ciry of Ceps Ekedahl.
Statement of wvenuas. Calmed It was, and Chang as in Fond Balances
Go' are Funds
For tTax'aer Ended June 3p, 2008
Other
Total
Pa. and
Tans Sales Tax
Trans Sales Tax
Govemmenlal
Governmental
General
.,an
Recreated
That Fund 11
Trust Fund 111
Funds
Funds
REVENUES
Taxes
S 14,118.02700
S
S -
$ -
$ 423448160
$ 8460,081.83
S 26,821]9023
Licenses 8 seas
1,355.83106
-
-
5.35200
1,361,21306
ms..overnmental
TX 63376
719,53586
13604
31.19000
27 512 46
1873,55565
3,306.472.57
Char9ea for services
27970106
130151053
582034.11
-
-
224324570
Int¢mel.1.,.x
67417484
-
-
-
874, 174 64
Flues and twleits
78232352
-
-
-
-782,32312
M1sce11aneous
269.12104
20981551
1407720
-
2313647
37,39195
55354215
vestment revenue
203,96753
4038.51
6,90457
33469212
3. ,84200
631,99382
152643855
Spsial assessments
9,137.64
4142309
29156621
342.12774
Total revenues
10,626717.25
231490041
603.15280
40731401
4629,97233
11308,871.36
rt? 890
EXPENDITURES
Current
Acmini51fa0ve
2577,37192
2.31492366
196043629
5752731.87
Development Serviws
1,51549277
-
-
51 7s9
32109390
188638649
Parks and Rsrealion
1,565,4..24
1471,160.13
-
-
313662237
PUWCSatey
10,82P1773
351,39519
11173,11292
Public Works
1,981.17691
-
-
-
-
40F74 fit
2021,851 51
dem otters.
A AcminrstreWa charges
10576
-
-
-
-
.,51005
6161581
Interest
063347F
3374.12
32196
1104072.74
1,196,103513
Principal
9199597
16.592.62
1839300.00
1,953,88659
Cdailnt outlay
202,89056
617676.65
17,31800
794.04537
3051,99699
1222033.86
5905.97143
Tedd expenditures
18.95054862
2.95256705
1408,00809
794,04537
3103,79881
680351663
3409328457
EKass( cellctency) o1
sr
Oxperdlmros
1323,831]7)
(637.666.54)
(885As, 39)
(366,73136)
1,526,P352
4,50535473
3]97,.3.59
OTHER FINANCING
SOURCES (USES)
Transfers real
it.5,770.46)
(255.0..00)
-
(?719960.34)
(12,320 T50.60)
Transhead
4,303,14631
64553046
877.431.20
2W,o00.00
3.45960271
9,688)1268
Asset dlspeation
352074
686050
17 116 63
-
P497.87
Cher mnaperation revenue
? 13200
-
-
? 132 00
Total other financing
sources and uses
(31969,41)
600,1K SIR
894,547,83
200,000.
(4260,37763)
(2597,40625)
Net Changs
e In fn
balances
(355,800 78)
(37,27568)
0,89254
(386.731361
1726,17352
24497710
1200,235.
Fund Redress began,
5558,63731
172,24224
34088.07
5970,79576
5323,81637
11821,34620
28660925.95
Prics 11cl acfus—H
(13 156
15,865.19
-
-
(80 Fill 081
177S72 01)
Func balances-enclng
E 5189,68041
$ 150831 T5
$ 4298061
f 5,5.064.40
S 7049989.69
S 11,96564222
$ 30,003,18928
City of cape Girardeau
aeconnnanon ohne sleremenl of aovenno. Expenditures,
and cnmge6 In Fund 9alanco9 of Govemmermal Funds to II» stns mentpf r onNres
For the Year Ended June 30, 2008
Net chi In Find balances.total govemmental Nntls
E 1300,
235 J4
Amounts repaded lot govemmenfel ech"my In lee sUlement of acdvilies
am different because.
aeduceons dl debt arerepoded In the no nnanctat
1,934
276.41
statements as an expense but are not Inmmed In they
go.ommem wide statement of acdvtnes.
...... mental Nod mW capdat oars, as eapendllures.
1 139,161
.10
Moweveq In lea ...Marc Of Mas. me cosi of -.on
firms and
sycle a allocated over their animated usewve
reached as dep cost an axpen a. Tins is the amount by
r
which depredation expense exceeded capital outlays in
Ne coram period
hre road svv¢e I are usao by management to charge
981.J7
111
he cash ofe systems neat
employect
e frogs Moon
wrm
,agement employee meet workmen's
t
mpIyym,
compensation , and equipment replacement t0lntllvitlual
n,nas
Omanmr, erm assets am not avauable to pay for auhenL
(346.605.03)
period exptndlturrs and, therefore are deroned in me
funds
sumbe expanses..ad In Ne sommem of acnndes do not
45636.75
mr, the use of current nnandal resourcee andr tnerefore.
are not lorded as expenditures In govemmemal funds.
Change in net assets of gov rrmentat arcum es
E 4,96268194
i 1 9 1 f 1 Y f 1 Y f I f i 1
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 30, 2000
ASSETS
Current assets'.
Cash and cash equivalents
Investments
Utilities charges, net
Special assessments
Other
Notes receivable
Interest
Gants
Inventory
Prepaid items
ro Total Currents assets'.
Noncurrent assets
Rest Cash and Cash Equivalents
Rest Investments
Land
Buildings
Equipment
Other improvements
Construction in progress
Accumulated depredation
Total Noncurrent assets
Total assets
Total
Gov. Activities
Proprietary
Internal Service
Sewer
Water
Solid Waste
Golf Course
Softball Cumplex
Funds
Funds
$ 83,885.05
$ 119,913.16
$ 56,52449
$ 2,843.89
$ 6,652.27
$ 269,818.86
$ 173,610.96
1,586,507.16
2260,740.38
1,075,917.60
54,507.04
80219.51
5,077,891.69
3.543,164]3
402,214.79
723,525.03
315,627.32
-
-
1,441,367.14
-
138,042,27
47,336.89
-
-
-
185,379.16
-
-
32.20
215.06
30.50
-
277.76
6,874.31
-
-
-
-
-
-
27894.96
1,02823
9,902.13
-
-
-
10,930.36
-
52,702.30
8,674.33
12,899.47
60647
20.00
74,902.57
2,365.60
-
414,057.18
-
4,425.52
9,816AP
428,298.72
189,740.83
160.758.18
287,919.59
1,624.95
212.01
-
450,51473
34,044.92
2425,137.98
3,892,100.89
1,462,808.89
62,62543
96,707.80
],939,380.99
4229,376.31
4,636.500.45
116,739.75
85.81
-
-
4,753,326.01
-
335,88334
2,946,947.14
4,46243
-
-
3,287,292.91
-
49,750.00
-
112,239.55
-
-
161.989.55
37,500.00
8,078.346.00
174,311.63
1,051,146.72
140,253.00
33,671.61
9,477,72896
46,224.45
2,953,19065
1,803,909.10
1,822,029.25
243,318.43
131,955.22
6,954,40265
3,634.435.48
67,702,928.32
45,690,72871
333,132.92
551,268.84
26,592.57
114,304,651.36
155,653.19
1,062,472.79
390,057,18
-
-
-
1452,529.97
-
(26,437,46747)
(9,564,70749)
(2,217,033-59)
(695,669-67)
(108,849.33)
(39.023,727.55)
(2753,14067)
58,381,604.08
41,557,986.02
1,106,063.09
239,170.60
83,370.07
101,368,193.86
1,120,67245
$ 60,806,742.06
$ 45,450,086.91
$ 2,568,871.98
$ 301
796.03
5 180.077.87
$ 109,307,574.85
$ 5.350,04876
I 1 1 1 { 1 1 1 1 a 1 1 t f 1 1 1 1 1
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the
Year Ended June 30,
2008
Business -type
Activities - Enterprise
Funds
Total
Gov. Acbvitles
Proprietary
Internal Service
Sewer
Water
Solid Waste
Golf Course
Softball Complex
Funds
Funds
LIABILITIES
Current liabilities:
Accounts payable
$ 246,147.39
$ 410,]61.]8
$ 101,607.23
$ 16,629.28
$ 51420.19
$ 826,565.0]
$ 234,88034
Salaries and banefts payable
110,179.49
],12].99
67,610.51
32,252.]]
39,45742
256,628.18
48,541.53
Interest payable
474,62025
]1,]5544
82945
-
-
547204.74
645.83
Other liabilities
209,101.01
198752.82
91,913.81
7,923.80
-
50].691.44
83.59
Estimated claims payable
-
-
-
-
-
-
381.500 00
Due to other governments
2,274.51
],043.18
-
-
-
9,317.69
-
Deferredrevenues
1],8]4.63
-
-
-
-
1].8]463
-
Payable to other funds
-
-
-
-
-
"
,advances from bUer fonds
-
-
-
-
-
Notes Payable
6,750.00
-
7.125.00
-
-
13,875.00
4875.00
Revenue bonds payable
3,133,000.00
860,1
-
-
-
3,993,00000
-
Special oblig bonds payable
94,003.98
59,820.72
41 1]5.30
-
-
195,000.00
55,000.00
Total Current liabilities:
4,293,95126
--T,615,261.53
310,261.30
56,805.85
90,8]].61
6,36],157.55
]25,52629
Noncurrent liabilities:
Advances from other funds
-
-
620.000.00
267,450.24
190,000.00
1,0]],450.24
-
Notes Payable
229,500.00
-
242,25000
-
-
4]1]50.00
165.75000
Revenue bonds payable
24,126.688.20
4,541,216.85
-
-
-
28,667,905,05
-
Speual obllg bands payable
88.828.2]
56 X83.32
38,40.08
-
-
184,012.47
166,]50.83
Est landfill post closure best
-
-
64,00.00
-
-
64.000.00
-
TotalNoncunentlefulibes:
24,445016.47
4,598,000.17
964,650.88
267450.24
190,000.00
30465,11].]6
332,500.83
Total liabilities
28,73$96].]3
6,213,261.70
1,2]4.912.18
324,256.09
280,8]].61
36,832,275.31
1,058,02].12
NET ASSETS
Invested in capital assets, net of related
26,045,622.47
33,258,404.52
]]6,398.35
239,170.60
83,3]0.0]
60 402,966.01
]32,090]1
Restricted for debt service
-
1,086,666.67
-
-
-
1,086,666.6]
-
Restricledfordeprandreplacement
127,000.00
1,180,000.00
-
-
-
1.307,000 00
-
Restrictedforemergencyfund
405,095.00
816,950.00
463,490.00
-
-
1,685.53500
-
Unrestricted
5,490,056.86
2,894,804.02
54,071.45
(261,630.66)
(184,169.81)
7,993,131.86
3,559,930.93
Total net assets
8 32,06],]]4.33
—i-39 236,825.21$
1,293,959.80
$ (22,460.06)
$ (100.]99]4)
]2,4]5,299.54
—S-4, ,292221.64
Adjustments to refect 0e consolidation of Interval service
tend activities related to enlera
se endsnet assets of
rudimen type activities
52,916.22
S ]2,528215.]6
1 1 i f 1 1
1
1
1
1 1
1 1
5
1 1
1 1 f
City
of Cape Girardeau
Statement of Revenues, Expenses, and Changes in
Fund Net Assets
Proprietary
Funds
For the Vear Ended June 30, 2008
Trial
GoaAelivtlies
Pmpoetary
I'moals."o.
sewer
water
Solid west.
Goff(Course
Somali Comple.
woos
Funds
0..adpg reaenuee:
Residential charges
5 1715,13926
$ 3276,001.68
5 2,029,]0]59
$ -
E -
S ],021,64853
S -
'conceptual charges
1002,03]33
2250,30133
29,35160
-
3,36169034
-
Transterstatbnchay.s
-
-
914,40508
-
914405.08
Otherlees and charges
47,095.56
196233.14
8306264
-
326,39134
-
Concessionrevenues
-
-
69,715.67
98,25475
167,97042
Equipment sales
-
-
-
9276.50
670500
15,98150
-
Intemalcharyes
-
-
-
-
-
5, 123,G3160
usage tees
-
-
-
375,13139
67,516.50
442647 69
Miscellaneous
1214900
2119094
5279189
600.00
1021129
96.943.92
73116
Total operating revenues
2656.421.95
574452709
]109318.88
454,723.56
182687.54
1234 '679D2
5124.36276
Operating expenses:
126.14448
1227305.20
324,62977
325,96267
3,513,62501
72]737.13
Personnel services
Malelal5 A supplies
1509.582.89
41630969
1,065,0117.85
139,08349
69,673.87
63,14081
1,754,09571
353,68243
Contractual serves
215,10622
2498,323.08
1,1311,44076
2819789
37,46143
3, 91 7,52938
2550,75587
General operating expenses
39,62044
192960.33
29,13513
5685667
67,62865
38623342
31]7095
Special programs
110207.51
113,334.13
8194998
661963
5648 75
327.76000
-
Intemalservor,ropsomm,
162486.02
112446.05
197.20946
59,19690
2773770
559,07693
2,681.00
Oeprosion
205228711
1,356,824.24
16859051
45,17072
983409
363271467
261 401 61
N Total operating espsnses
451360068
546592016
2961,72253
59237745
53741430
1409103512
395602899
Co Operating Income (loss)
(165)170]3)
278.60693
127,59635
(137653.691
(354 726]61
(174335610)
1168333.77
Nonoperatin, revenues (expanses)
Intergovernmental
399.292]0
1389358
26295.38
5115500
16997
444,00663
2365.60
Investment revenue
297.911.94
288,96383
6359966
1,971]5
?19156
654,63674
20447572
Gain from sale crease(
31472.09
46,279.17
10,03750
1,953.18
-
89,75194
1703499
Other norvopertang revenue
10,021 76
Interest and other charges
(641
49009)
(208,931.81)
(45,328-66)
(14,567]9)
(9,732.901
11,000,05125)
(17,03772)
Issuance cset Oranisatlon
(36,80007)
(26,10170)
(554.14)
-
(63,45595)
(61419)
Loss from sale of asset
(324470)
-
(324490)
141 681
Total nonoperatin, revenues (expenses)
50,38663
3005837
54,04974
(5477.06)
(7,371 37f
122.445.51
216,20448
Income (loop) before cont Tube's and transfers
(1,606,79210)
309,46530
101,646.09
(143,13175)
(362098.13)
f1,620 910 59)
1304,53825
Contributed capital � connect fil
11994000
-
-
-
-
11994060
-
Contnbutedcapital- developers
305,71397
140,497.09
-
446,211 D6
-
ContnOutedcapital- donations
562,000.00
-
-
-
43,56077
605,568.77
-
ConNOutedcapilal-government
3818408
-
-
-
30.19408
-
ContnbutedcapAal- special assessments
116.54280
39,072.80
-
-
-
155.61560
Transfers In
2,198,604.00
120,00000
-
119.76462
35297923
?791,34785
1,98221
Transfers cul
-
-
(161,291 94)
Change In net assets
1.696,008.61
647,21927
181,64609
(23,367.13)
3444987
2,535,95677
1225,220.52
Total net assets- beginning
30,371
765 66
38,634,55230
1,112,313.71
907.07
(13524961)
69 984,289 13
2.960,11150
Prior period adiustmenl
-
(44,946
361
(4494636)
106,65162
Total net assets - bnding
$ 32067774.33
S 3923662521
$ 129395900
$ (2246) 06)
$ (100799]4)
S 72475 29954
$ 4292,02164
Adjustments to person the consolldetme of Internal service fund activities
related
to enterydse
mMs.
235,851 15
Change in net assets of business tops pdivNas.
S 2771,807.92
1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
City of Cape Girardeau
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2003
Business -type Activities - Enterprise Funds
Government
Total
Activities
Softball
Proprietary
Internal Service
Sewer
Water
Solid Waste
Golf Course
Complex
Funds
Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers
S 2.836958h
E 5954696.68
S 305147662
S 45281087
S 191687.54
$ 126]863027
$ 115,325.11
Receipts fromimorfund services
29,35168
-
2935168
5009,28019
Other receipts
-
60000
-
600.00
731.16
Payments to suppliers
(697,29647)
[3,561,110.92)
(1, 369,w0022)
(146854.03)
(147,201 27)
(5,9 30 064,9 1)
(3845,86579)
Payments for Salaries and benefits
(1 .90,88790)
(126,661.31)
(1220,52287)
(31.65)
(320.70676)
(3 480,6N 49)
(730,83292)
Payments for impound services used
(154,09098)
(72,089.05)
1197.20946)
(71 2g2
(3466726)
(539227,45)
(3p WW 00)
Payments made in lieu of franchise taxes
(14327285)
-
-
-
(143272.85)
-
RemiltencQof taxes collected from customers
(15.05461)
(205 4,17
-
-
(220,50224)
-
N Net cash provided (used) by operating activities
46961040
1.840.115,12
2934995
(88,55951)
(319,70975)
2.19488001
545.17976
O
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers from Other funds
120 W000
-
119764.62
35297923
592,743.05
-
Transferstoothorfunds
-
-
-
1161,291.94)
Advance lepdymQpl to the, funds
-
-
(23,02696)
-
(23.2693)
-
Inlereslpaidloolherfunds
-
(31.763 02)
(14,56779)
(9,73290)
(5606071)
Subsidy from federal grant
1934031
4275
4.653.91
4,54053
14997
28.73547
Net Cash (used) by noncapltal financing
19.34031
120.00275
(27,100.11)
6611. oa
64339630
54239163
(161291941
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Capital contributions
76036640
7285667
6,74200
-
-
06196701
-
Principal received on promissory note
-
-
152,067.68
Inleraat scorned on plpmi55Ry rale
-
-
11,07176
Proceeds from Sales of Capital assets
3240515
107265 W
10,037.50
1,963.18
-
151 75053
19193.33
Purchase of Capital assets
(79,10114)
(396.W5go)
1142.642 22)
-
-
(617791.49)
(1622.197)
Acquisition and construction of capital assets
(772,28361)
(30,345.50)
-
(1,079,629.19)
Principal paid On Capital debt
(2047950 -WI
(881,75299)
(53,313]5)
-
(2,983 016 80)
(7975000)
Interest paid on capital debt
(1,126853.87)
(249,022.51)
(14,5¢0261
-
(1,39045663)
(17 old 14)
Transfers In for capital acquisitions
-
-
-
-
1,98221
Transfers in for payment of Capital related debt
2198.60400
-
2198,604.00
-
Net cash (used) by capital and related financing
activilies
(1,014,733.13)
(1,fi54,W531)
(191]5672)
1,96315
-
(2 e56, 511 rip
164,936.13)
i 1 1 1 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1
City of Cape Girardeau
Statement of Caah Fla.
Proprietary Funds
go, the Yea. End.G June 30, 2008
Business -type Activltias - Enterprise Funds
GOvernhnopt
TOW
Activdies
800ball
P.Ph.d.,
Internal Service
sieaa,Water
Solid Waste
G91f Course
Complex
Funds
Funds
CASH FLOWS FROM INVESTING ACTIVITIES
^_
Interest r¢¢Eived
Nelchae . In poewd ah,Obs'a's
I Lem saes and m$Iustiee Of overanente
YurOhaee of inve5lfnents
264,2]4.52
0.1"c'4t31
1,0449]9..55
t738.14841)
24],6]002
P2t.6%.96)
1,1.5.iN N
S]30"00)
'a 07261
(e`u.68Z53)
1 1907
413]5-
2088fl
{1966'6 ]Jj
-
59],06004
((146,&3486)
2,1499]855
(1,468.168.41)
1608]9.]1
yve,19201
(61,260 011
Net con pn]dded by In ... ting Oliviue5
719.059.50
(10586866)
(21,61492
)
2,19448
111,9691)
130.11352
(184,5T2 78)
Net npea9B (d¢CleaFn.) p Ca61 and CIL9t1
--
Beutv6lenk
(246,114 84)
200,124 00
47018M
2,318.53
3,06961
8.81328
134.37601
Balances- beginning of year
4,06],100.39
30,52891
9,692.30
521.36
58263
501.331.59
39,234 06
(a GaWnce3 end of (R¢Year
—$7 4 720,34:.$R
E 73665291
5 SS.Bt03. $
2,86&A9
3 5,028'4453
3 i73510%
Roconcillafion of Operating income (loss) to net
cash provlded (used)
by operating activities:
Oporsting orone, III
$ (1667.178.73)
$ 220,906.93
$ 121696.35 5
(13].60389)
5 (364,]26]0)
S (1,7433,%.10)
5 1.168,333.77
Ad1Vs}menf5 1p ."Ch. "pest,; aWcnte t0 net
cash pmatled (used) by operating art vltl.s�
Deproo.eion c,pens¢
205226].11
1,356 ON 24
t6S.59851
45.170.]2
9834.04
3632.71467
28140161
Changes In assets antl Istalls,
A%.h,IS payable -super
Accosts payable other
S.I.,i.58 onadd, pR,bi.
Custonret..,aves
Other operating receivNbles
PrepOid..Pulses
Invartlory
8903.06
(9033.31)
19694.99
344378
(2633.29)
47086.22
14405..
(51683)
3983855
132.264.00
(6.%7]9)
(1Z k25A0)
(,038.40)
6.324.62
6782.33
114'", by;
-
51626
-
(3,95622)
1965.50
2,]]612
(30%)
209.52
299&23
20,9]629
025391
-
T
?1,5272 t
12640873
1366241
3296052
28%391
132F6400
(88!330)
4890.795.02)
(3,095.79)
40,11
4,148.34
(HAIL96171
ai
3i
Not CeSh prOvidetl by operp11n9 dc1Nllies
5 461,1-18 4-1
$ 1,640,115.4
$ 293,49615 E
(99.559.61)
5 (319)09]5)
S $190.68001
1.f,.aea
1.17
f 545.9 9.16
I ► 1 1 1 1 1 1 1 ► ► 1 1 1 1 1 1 1 It
City of Cape Girardeau
Statement of Net Assets
Fiduciary Funds
For the Year Ended June 30, 2008
Agency
Funds
ASSETS
Cash and cash equivalents $ 2,538,941.94
Investments 6,122,792.67
Real estate taxes 3],915.]8
Personal property taxes 11,598,43
Other 836.00
Total assets $ 8,712,084.82
w
LIABILITIES
Accounts payable
$ 369,122.54
Salaries and benefits payable
16,610.34
Other liabilities
8,326.351.94
Total Liabilities
$ 8712,084.82
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
"Phe 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 confomtity 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 arc 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 we financially accountable. The Cape Girardeau (Missouri) Public Facilities
Authority (CGPFA) is a blended component unit of the City. For the year ended June 30,200S, the CGPFA
had no assets, liabilities, revenues, or expenses.
Although not a component unit of the City, the City handles the funds of and provides accounting and other
services- for several entities. Since these funds are held by the City, these entities arc shown as Agency
Funds in the Financial statements.
2. Government -Wide and Fund Financial Statements
The government -wide financial statements (i.e., the statement of net assets and the statement ofactivities)
report information on all of the nonfiduciary activities of the primary government and its component units.
The effect of interfund activity has been removed from these statements. Governmental activities, which
normally are supported by taxes and intergovernmental revenues, are reported separately from business -type
a(tivities, which rely to a significant extent on Ices and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or
segment arc offset by program revenues. Direct ecpenscs 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 property included among
program revenues are reported instead as general wvenues-
Separate financial statements are provided for governments[ 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.
32
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
VOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus, Basis of Accountine, and Financial Statement Presentation
The government -wide financial statements are reported using the economic resources measurement focus
and the accrual basis ofaccoanting, as are the proprietary fund financial statements. Revenues are recorded
when earned and expenses are recorded when a liability is incurred, regardless ofthetimingofrelated 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 arc 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 j udgments, are recorded only when payment is due. Those revenues
susceptible to accrual are propertytaxes, franchise taxes, special assessments, licenses, interest revenue, and
charges for services. Sales taxes collected and held by the state at year-end on behalf of the City, also are
recognized as revenue. Fines and permit revenues are not susceptible to accrual because, generally, they are
not measurable until received in cash. With the current financial resources measurement focus, only current
assets and current liabilities- are generally included on the balance sheet.
The City reports the following major governmental funds
The general fund is the City's primacy operating fund. It accounts for all financial resources of the
general government, except those required to be accounted for in another fund.
Theon-portfundaccounts for the resources used in the opeiation and maintenance of municipal airport
facilities.
The parks awl recreation fimd accounts for the resources used in the operation of park and recreational
activities.
The tran.rpnrtatioe sales taz trust fiend It accounts for the receipt and expenditure of a capital
improvement sales tax that was approved by voters for street construction and improvements.
The transportation sales tax trust fund III accounts for the receipt and expenditure of a capital
improvement sales tax that was approved by voters for street construction and improvements.
33
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE. A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
The City reports the following major proprietary funds:
The seiner fund accounts for the operation of the City's sewage treatment plant, sewage pumping
stations, and collection systems.
The water fiord accounts for the operation of the City's water treatment plants and distribution systems.
The solid waste fiord 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 complex f and 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 servicefunds 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.
dgenep funds account for the operations of the library, arena improvement committee, and parks
development foundation.
Private -sector standards of accounting and financial reporting issued prior to December 1, 1989, generally
arc 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 Govennncntal Accounting Standards Board.
Governments also have the option of following subsequent privatc-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.
34
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus Basis of Accounting, and Financial Statement Presentation - Continued
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or
privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including
special assessments. Internally dedicated resources are reported as general revenues rather than as program
revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
,,. connection with a proprietary fund's principal ongoing operations. The principal operating revenues ofthe
City's enterprise funds and of the City's internal service funds are charges to customers for sales and
services. Operating expenses Cor enterprise funds and internal service fiords include the cost of sales and
services, administrative expenses, and depreciation on capital assets. Allrevenues 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.
Depreciation of all exhaustible capital assets is charged as an expense against operations in proprietary
funds and a program cost ofgoventmental activities in the statementofactivities. Assets are repotted 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 unpertbrmed contracts for goods or services.
Encumbrance accounting is utilized in all funds. Encumbrances outstanding at the end of the year in the
governmental finds 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 tunds 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.
35
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
6. Inventories
Inventories consist primarily of supplies, valued at cost. The cost of inventories is recorded as expenditures
or expenses when consumed rather than when purchased.
7. Compensated Absences
Vested or accumulated vacation pay for proprietary funds is recorded as an expense and liability of those
funds as the benefits accrue to employees. Amounts of vested or accumulated vacation leave of
governmental funds are reported in the Statement 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 govermnrepl-wide
statements is the same as that used for proprietary funds.
9. Cash and Investments
The City maintains an internal investment pool for the majority of its non -restricted cash and investments
and a small portion of its restricted cash and investments. Investment revenue is allocated to each fund
based on its average equity balance in the pool.
Cash includes amounts in repurchase agreements and other short-term investments with a maturity date
within three months of the date of purchase.
Investments, with a maturity date of one year or more at the time of purchase, are recorded at fair value. All
other cash and investments are recorded at cost or amortized cost.
10. Prepaid Items
Payments made to vendors for services that will benefit periods beyond June 30, 2008 aro recorded as
prepaid items.
36
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
11. Restricted Assets
Certain proceeds of enterprise fund revenue bonds, as well as certain resources set aside for the repayment
of such bonds, are classified as restricted assets on the balance sheet because their use is limited by
applicable bond covenants. The "revenue bond construction" account is used to report those proceeds of
revenue bond issuances that are restricted for use in construction. The "revenue bond current debt service"
account is used to report resources set aside to make up potential future deficiencies in the revenue bond
current debt service account.
12. Lona -Term Obligations
Only that portion of long -tern 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 form 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 activitics.
14. Short -Term Interfund Receivables/Pavables
During the course of operations, numerous transactions occur between individual funds for goods provided
orservices rendered. These receivables and payables are classified as"interfund receivables/payables"on
the go cannicntal 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 resow ccs 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 nct assets.
37
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
16. Post-Emplovment Health Care Benefits
In addition to the pension benefits described in Note G, it is the City's policy to provide postretirement
health care benefits to employees who retire from the City with five or more years of service and who are
eligible for LAGERS retirement (Note G). Currently, forty-six employees meet those eligibility
requirements. The City provides health care coverage for them until age 65. The cost of retirees' health
care benefits is recognized as an expenditure as premiums are paid. For the year ending June 30, 2008,
those costs totaled $264,795.
COBRA Benefits - Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the City
provides health care benefits to eligible former employees and eligible dependents. Certain requirements
are outlined by the federal government for this coverage. The premium is paid in full by the insured on or
before the tenth (10th) day of the month for the actual month covered. This program is offered for a
duration of 18 months after the termination date. There is no associated cost to the City under this program,
and there was one participant in the program as of June 30, 2008.
17. Infrastructure
the City defines infrastructure as the basic physical assets that allow the City to function. The assets
include the street system, water system, sewer system, parks and recreation lands and improvement system,
storm water system, and buildings combined with the site amenities such as parking and landscaped areas
used by the City in the conduct of its business. Infrastructure of the water and sewer systems were routinely
capitalized in the water and sewer funds of the City and are reflected as other improvements in the business -
type activities section on the statement of activities.
During the year ended June 30, 2008 all infrastructures completed during the fiscal year, including
projects started in a previous year, were recorded at their historical costs.
38
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
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, 2008, and reported at fair value, are as follows:
Deposits
Demand Deposits
$ 1,344,180
Interest Bearing Deposit Accounts
9,803,762
Total Deposits
S 11,147,942
Investments:
5,415,555
Negotiable Instruments
$27,021,274
Federal Home Loan Bank
4,770,297
Federal National Mortgage Association
5,415,555
Federal Home Loan Mortgage Corporation
2,788,580
US Treasury Note
347,389
Total Investments
540,341095
Total Deposits and Investments
51 491,037
Reconciliation to Statement of Net Assets:
Deposits and Investments, Book Balance
$51,491,037
Petty Cash
8,800
Deposits and Investments, Statement of Net Assets $51,499,837
As of June 30, 2008, the City had the following investments:
Investment
Negotiable hrstnunents
Federal Home Loan Bank
Federal National Mortgage Assoc.
Federal Home Loan Mortgage Corp.
US Treasury Note
Total
Custodial Credit Risk:
Maturities
Fair Value
07/03/2008-03/25/2013
$27.021,274
12/15/2011 —04/04/2013
4,770,297
08/15/2008 - 04/20/2012
5,415,555
09/19/2008-10/15/2008
2,788,580
11/15/2008
347.389
$40343 095
Deposits in financial institutions, reported as components of cash, casts equivalents, and investments,
had a bank balance of $11,243,016 at time 30, 2008, 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.
39
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE B - DEPOSITS AND INVESTMENTS - Continued
Investment Interest Rate Risk
The City's investment policy states that "Market price volatility shall be controlled by matching the
City's investments with anticipated cash flow requirements. The City will not directly invest in
securities maturing more than seven years." The maturities of investments held at June 30, 2008 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 ofwhich the full faith and credit ofthc 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;
C. Repurchase agreements collateralized bysecurities listed in (a.) above, documented bya
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 investnenl instruments approved prior to purchase by a two-thirds
majority of the City Council. Bond proceeds may be invested as allowed in the bond
indenture.
Concentration of Investment Credit Risk
The City places no limit on the amount it may invest in any one issuer. At June 30, 2008, the City had
no concentration of credit risk.
40
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE C- PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on August 20,
2007, for collection during this fiscal year and were due on or before December 31. Most of the taxes are
collected in November and December.
The tax rates assessed at the time were as follows:
Balance
General Revenue
S .2991/100.00 assessed valuation
Public Health
.0560/100.00 assessed valuation
r Special Business District
.6763/100.00 assessed valuation
#2 (Ad Valorem)
Deductions
Property tax receivable balances as of
June 30, 2008 are as follows:
Land
Special
General
Business Public Debt
Revenue
District Health Service Total
Current property tax 548,613
52,426 $ 9,101 S - $60,140
Delinquent property tax 13,801
1,385 2,584 44 17,814
Reserve for doubtful
12,001,556
-� Property taxes (7,188)
- (1,345) (44) (8,577)
Net property tax receivable $55,226
$3,811 $10,340 S $69,377
NOTE D - CHANGES IN CAPITAL ASSETS
A sunvnary of the capital assets for governmental activities included on the government -wide statement of
' net assets for the year ended ,June 30, 2008 is as follows:
Balance
Accumulated
Balance
July12007
Additions
Deductions
Depieeiation
June 30. 2008
Land
S 4,932630
$ 2.221
5 -
S -
3 4,948,851
Buildings
12,348,075
240,464
581983
12,001,556
improv emcnt5 other
Than buildings
10,148,266
908,416
-
618,514
10,438,168
Equipment
4,242,008
931,689
357,471
449,101
4,367,125
Infrastructure
104,337991
2,365,272
-
1530,941
103.172,322
Coaslmctiun in progress
2,091 426
1.033 362
874,681
-
4,250,107
Total capital assets
$'138,107,396
$ 7,488,424
5 1,232,152
$ 5,1805539
$ 139,181,122
41
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE D - CHANGES IN CAPITAL ASSETS - Continued
Additions and deletions to the enterprise funds for the fiscal year 2008 were $2,754,635 and $611,965
respectively. Additions and deletions to the internal service finds were $219,574 and $171,512
respectively.
A summary of the proprietary fund type capital assets included on the proprietary fund statement of net
assets for the year ended June 30, 2008 is as follows:
Enterprise Internal
Fund Service Fund
Land $ 161,990 $ 37,500
Buildings 9,477,729 46,225
Improvements other than building 114,304,651 155,653
Equipment 6,954,403 3,634,435
,. Construction in progress 1452 530 -
$132,351,303 $ 3,873,813
Less: accumulated depreciation 39 023,728 2,753,141
S 93 327, 5751,120,5 72
Depreciation expense was charged to functions as follows in the statement of activities:
Governmental Activities:
Administrative $ 447,426
Development Services 12,529
Parks and Recreation 355,752
Public Safety 612,6t7
Public Works 3,826 083
Total S52_54-407
Business -Type Activities:
_
Golf Course $ 45,171
Sewer 2,052,287
Softball Complex 9,834
Solid Waste 168,599
Water 1356 824
Total 3 632 715
42
,.
City of Cape Girardeau, Missouri
NOTES
TO BASIC FINANCIAL STATEMENTS
June 30,
2008
NOTE F, - LONG-PERM OBLIGATIONS
The following is a summary ofchanges
in the long-term
debt included
on the City's statement of net assets
for the year ended June 30, 2008.
Unused Due to
Govetna,enml
Other
Rcvcnuc
Paid Other
Adivltie�
Debt"
Bonds
I ... foal
Debt payable July 1, 2007
S 12,030,491 $
19.487,084 S
801,256 S 46,082 $32,370,911
Premium amorti»Ilon
(7,182)
(1,153)
- (8,335)
Retired
(015,516)
(1,000,000)
( 23,648) (18,389) (2,057,553)
Additions
Debt pay at lc 7 tine 30,2006
$ 11,007:23 $
18,485,931 5.
_ 7836_8 x.27,093 $30_30_5Q2'
*Olhar Debt inedales Netee Payable, Special
Obligation Bonds, Leasehold Revenue Bonds,
and Ccrti ficales of Patlicipallon-
Business-Type
Other
Revenue
.�
Activities
Debt*
Bonds
Total
Bonds payable at
July 1, 2007
$1,081,t25
535,904,088
536,985,213
Discount Premium
Amortization
(3,738)
(23,558)
(27,296)
Accumulated Interest
-
547,375
547,375
Bonds Retired
(212,750)
(3,707,000)
(3,979,750)
Bonds Issued
_
_
Bonds payable at
June 30, 2008
$564,637
$32,.6(10 905
$33,525,542
-Other Dcbt incl udcs Nne, Pay.ld. and Spcaal
Obliyalion Bonds
43
,. City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG TERM OBLIGATIONS - Continued
Bonds payable for governmental and business -type activities at June 30, 2008 are comprised of the
following individual issues:
$
1.155,000 Special Obligation Refunding and Improvement Bonds, Scrics 2002:
Year Ending
Interest
Principal
Interest
_
,lune 30
Rate
Due
Due
Total
2009
3.75%
$ 350,000
S 39,380
S 389,380
2010
4.00
340,000
25,130
365,130
20 t 1
4.00
155,000
15,655
170,655
2012
4.10
155,000
9,455
164,455
2013
4.10
155000
3,177
158,177
1 lis 000 S -9-Z,197 X247,797
Principal payments are made annually on October 1, and interest payments are made semi-annually on
October I and April I.
On October 22, 2002 the City of Cape Girardeau issued $3,125,000 of Special Obligation Refunding and
Improvement Bonds Series 2002 with interest rates varying from 3.00% to 4.50%. The bonds are special
obligations of the City payable solely from the income and revenues provided for the year plus any
unencumbered balances from prior years.
The bonds were issued by the City for the purpose of providing funds to (a) pay the costs of refunding the
Building and Equipment Leasehold Refunding and hnproverncnt Revenue Bonds, Series 1993, issued on
behalf of the City by the Cape Girardeau Public Facilities Authority and outstanding in the pri ncipal amount
of 51,085,000, (b) pay the costs of refunding the Certificates of Participation (Capital Improvements
Projects), Series 1994A, issued on behalf ofthe City by the Cape Girardeau Public Facilities Authorityand
outstanding in the principal amount of $1,255,000 and prepaying the leasehold interest represented thereby,
ti (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: $775,000 for Governmental activities and $380,000 for Business -type activities-
EEI
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL SCATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
SS 345 000 Waterworks System Refundin¢ Revenue Bonds Series 2006A due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due 'Dotal
_ 2009 375% S 860,000 S 211,650 51,071,650
2010 4.00 890,000 179,400 1,069,400
2011 4.00 925,000 143,800 1,068,800
2012 4.00 965,000 106,800 1,071,800
2013 4.00 1705,000 6S,200 1 773 200
J5_345,00 000 709 850 $_ 454 850
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 57,160,000 of Waterworks System Refunding Revenue Bonds Series
2006A with interest rates varying from 3.5%to4.0°/,. The bonds are special limited obligations of the City
payable solely from the net income and revenues derived by the City from the operation of the Waterworks
System afler payment of costs of operation and maintenance.
The bonds were issued to provide the City with remaining funds need to retire 58,170,000 principal amount
of Waterworks System Refunding Revenue Bonds, Series 1995.
45
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL. STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
S 1 105.000 Seweraye System Revenue Bonds (State Revolving Fund Program) Series 1991 due as
follows:
Year Ending
Interest
Principal
Interest
JLine 30,
Rate
Due
Due
Total
2009
6.875%
$ 155,000
$ 75,969
S 230,969
2010
6.875
165,000
65,312
230312
2011
6.875
175,000
53,969
228,969
2012
6.875
190,000
41,937
231,937
2013
6.875
205,000
28,875
233,875
2014
6.875
215.000
14,781
229,781
$1,105,0 $ 280 843 1 385_,843
These bonds are dated December 1, 1991. 'fire proceeds of tlhc 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 -amoral ly on June I
and December I.
The interest due on the Series 1991 Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from
the construction funds held by the trustee, the State of Missouri Department of Natural Resources deposits
an amount equal to approximamly 51.907% of the reimbursement into the reserve fand. The maximum
amount of funds that will he advanced to the reserve fund will be $1,250,000. As bonds are retired 50'X of
the amount of bonds retired will be repaid to the State ofMissouri Department of Nanual Resources mit of
_ the reserve fund. The balance of the reserve fund at June 30, 2008 was $573,472. fhe reserve fond yields
6.71%.
During the fiscal year-end June 30, 2001, certain bonds originally issued by the State Environmental
hnprovemcnt and Energy Resources Authority as part of the State Revolving Fund Program were refunded.
Annual debt service savings resulting from this transaction are to be used to offset City debt service
payments due on Series 1991 Bonds. During the fiscal year ended June 30, 2008, City interest expense was
reduced by S17,313 as a result of this transaction. Over the remaining life of these bonds, the City will
receive net present value benefits of approximately S79,642 from this transaction.
46
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STA"I'BMENTS
June 30, 2008
NOTE E - LONG=PERM OBLIGATIONS - Continued
S 233.000 Sewerage Svstem Revenue Bonds (State Revolving Fund Proynam) Scrics 1993 due as follows:
Year Ending Interest Principal Interest
June 30 Rate Due Due Total
2009
5.250%
$ 28,000
S 11,805
$ 39,805
2010
5.400
30,000
10,260
40,260
2011
5.400
31,000
8,613
39,613
2012
5.400
33,000
6,885
39,885
2013
5.400
35,000
5,049
40,049
2014
5.400
37,000
3,106
40,106
2015
5.400
39,000
1,053
40 053
$233 000
46 771
$279 771
.. 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 It om
the construction fiords held by the trustee, the State of Missouri Department of Natural Resources deposits
an amount equal to approximately 70% of the reimbursement into the reserve fund The maximum amount
of funds that m -ill be advanced to the reserve fund will be $350,000. As bonds arc retired, 70% of the
_ amount of bonds retired will be repaid to the State of Missouri Department of Natural Resources out ofthe
reserve fund fhe balance of the reserve fund at June 30, 2008 was $143,500. The reserve fund yields
5.15%.
47
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONGTERM OBLIGATIONS - Continued
S 3,987,139 Water Pollution Control Revenue Bonds (State Revolving Fund Program) Series 1995D
due as follows:
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
2009
5.95000/
$ 946,770
S 1,143,230
S2,090,000
2010
6.050
722,409
992,591
1,715,000
2011
6.100
413,574
636,426
1,050,000
2012
6.150
380,828
654,172
1,035,000
2013
6.150
354,978
670,022
1,025,000
2014
6.200
326,281
683,719
1,010,000
2015
6.200
303,920
696,080
1,000,000
2016
6.250
278,844
706,156
985,000
2017
6.250
259,535
715,465
975,000
$3,9S7,139
$ 6,897 861
$ L0.885 000
These bonds arc 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 rcimhursed for sewn project
expenditures Goin the construction funds, the State o f Mi ssouri Department of Natural Resources deposits
an amount equal to 70% of the disbursement into the reserve fund. The maximum amount of funds that
will be advanced to the reserve fund will be 700/(, of the principal amount less the original issue discount.
Asbondsare retired 70%ofthe amount ofbonds 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, 2008 was
52,790,997. The reserve fund yields 5.83%.
48
.. City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
S 9,135,000 Sewerage Svstem Revenue Bonds( late RevoN m Fund Program) Series 1996 due as follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2009
5.600%
$ 715,000
$ 534,369
$ 1,249,369
_
2010
5.700
730,000
494,329
1,224,329
2011
5.875
745,000
452,719
1,197,719
2012
5.875
765,000
408,950
1,173,950
2013
5.875
780,000
364,006
1,144,006
2014
5.875
800,000
318,181
1,118,181
2015
5.875
875,000
271,181
1,146,181
2016
5.900
895,000
219,775
1,114,775
2017
5.900
920,000
166,970
1,086,970
,. 2018
5.900
945,000
112,690
1,057,690
2019
5.900
965,00
56,935
1-021 935
59,135,000 S3400 105 12 535,_1 05
These bonds arc dated June I, 1996. The proceeds of the bond issue were used for the extension and
improvement of the existing sewerage system serving the City.
Principal parrients are made annually on January 1. Interest is paid semi-annually on January 1 and July I
beginning in 1997.
The interest due on the Series 1996 Sewerage System Revenue Bonds is subsidized by interest earnings on
a resen e fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures
from the construction fimds, 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°G, of the amount oCbonds retired will
be repaid to the Department of Natural Resources out of the reserve fund. The balance of the restive fund
at June 30, 2008 was $6,394,500. The reserve fund yields 5.70%.
49
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
During the fiscal year ended June 30, 2001, certain bonds originally issued by the State Environmental
Improvement and Energy Resources Authority as part of the State Revolving Fund Program were refunded.
Annual debt service savings resulting from this transaction are to be used to offset City debt seryice
payments due on Series 1996 Bonds. During the fiscal year ended June 30, 2008, City interest expense was
reduced by $16,609 as a result of this transaction. Over the remaining life of these bonds, the City will
receive net present value benefits of approximately $152,314 from this transaction.
S 7,950,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 2000 due as
follows:
Year Ending Interest Principal Interest
June 30 Rate Due Due Total
2009
4.600%
$ 145,000
S 426,470
$ 571,470
2010
4.625
165,000
419,319
584,319
2011
4.700
185,000
411,156
596,156
2012
5.500
215,000
400,896
615,896
,. 2013
5.500
230,000
388,659
618,659
2014
5.000
250,000
376,084
626,084
2015
5.625
275,000
362,099
637,099
.. 2016
5.625
475,000
341,006
816,006
2017
5.625
555,000
312,037
867,037
2018
5.300
590,000
280,793
870,793
2019
5.400
1,590,000
222,228
1,812,228
2020
5.450
1,655,000
134,199
1,789,199
2021
5.500
1,620,000
44,550
1664 550
$7,950,00 0 4 1 19 496 _12069496
These bonds are dated November t, 2000. The proceeds of the bond issue will be used to extend and
improve the existing sewerage laeilities serving the City.
Principal payments are made annually on July 1, and interest payments are made semi-annually on July 1
and Januaiv I.
50
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
The interest due on the Series 2000, Sewer System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from
the construction funds held by the trustee, the State of Missouri Department of Natural Resources deposits
an amount equal to approximately 70% of the reimbursement into the reserve fund. The maximum amount
of funds that will be advanced to the reserve fund will be $5,848,500. As bonds are retired 70% of the
_ amount of bonds retired will be repaid to the State of Missouri Department of Natural Resources out ofthe
reserve fund. The balance of the reserve fund at June 30, 2008 was 55,263,297. The reserve fund yields
5.16%.
$18,480,000 Waterworks System Revenue Bonds (State Revolving Fund Program) Series 1998 due as
follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2009
4.300%
$ 1,025,000
S 910,475
S 1,935,475
.� 2010
4.375
1,080,000
866,400
1,946,400
2011
5.250
1,110,000
819,150
1,929,150
2012
5.250
1,215,000
760,875
1,975,875
2013
5.250
1,300,000
697,087
1,997,087
2014
5.250
2350,000
628,838
2,978,838
2015
5.250
2,445,000
505,462
2,950,462
2016
5.250
2,550,000
377,100
2,927,100
2017
4.500
1655,000
243,225
2,898,225
2018
4.500
2,750,000
123 750
2,873 750
S1R480�000
$5,932,362
824,412,362
I hese bonds are dated December I, 1998. The proceeds of the bond issue will be used for the extension
and improvements to the waterworks system.
Principal payments are made annually on January 1. Interest is paid semi-anuuatly on January 1 and July 1
beginning on July 1, 1999.
51
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
The interest due on the Series 1998 Waterworks System Revenue Bonds is subsidized by interest earnings
on a reserve fund held by the bond issues trustee. As the City is reimbursed for waterworks system
expenditures from the construction funds, the Department of Natural Resources deposits an amount equal to
33.41% ofthe disbursement into the reserye fund. The maxi mum 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 ofbonds retired will be repaid
to the Department of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30,
" 2008 was $5,187,487. The reserve fund yields 4.71%.
S 108,000 Citv of Cape Girardeat�,Missouri Lease Purchase Aercement dated hme 17. 1999 due as follows:
Year Ending Interest Principal Interest
Jute 30 Rate Due Due Total
2009 5.00000/ $ 34,000 $ 5,475 $ 39,475
2010 5.000 36,000 3,751 39,751
2011 5.000 38_000 1,926 39,926
108 000 _IS _1TI52 S119,152
The lease agreement is the obligation of the City of Cape Girardeau, Missouri. Principal and interest will
be paid by the City from proceeds of the site lease and the lease agreement. The purpose of the lease
agreement was to (1) rchabil itatc and otherwise improve the A. C Brase Arena Building and (2) acquire a
building at the Cape Girardeau Regional Airport known as the "Lipp's Hangar".
I'micipal payments are made annually on April 1, and interest payments are made semi-annually on April I
and October I.
52
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
53
$2,365,000 Certificates of Participation
Series 2001:
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
2009
4.625%
$ 130,000
S 135,253
$ 265,253
2010
4.800
135,000
129,240
264,240
2011
5.000
140,000
122,760
262,760
2012
5.800
150,000
115,760
265,760
2013
5.800
160,000
106,760
266,760
_
2014
5.800
165,000
97,160
262,160
2015
5.800
175,000
87,260
262,260
2016
5.800
190,000
76,760
266,760
2017
5.800
200,000
65,360
265,360
2018
6.000
210,000
53,360
263,360
2019
6.000
225,000
41,180
266,180
2020
6.000
235,000
28,130
263,130
2021
6.000
250,000
14,500
264.500
$2,365,00
$ 0073 _483
$3,438,483
The certificates areobligations
of the City
Linder a Lease Purchase
Agreement between the Cityand CMB
Bank, NA. The Corporation
also acts as
the trustee who receives
the rental
payments for the benefit of the
certificate holders. The
purpose of the
2001 Series certificates
was to construct
and equip an airport
manufacturing facility.
Principal payments are made
annual ly on
April 1, and interest
payments are
made semi-annually on April 1
and October 1.
53
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
Principal payments are made annually on June 1, and interest payments are made semi-annually on June l
and Deccinber 1.
InMay 2005, the City of Cape Girardeau issued $8,190,000 of Special Obligation Bonds Series 2005 with
interest rates varying from 3 X, to 5%. The bonds arc special obligations of the City payable solely from
the revenues derived from annual appropriations by the City Council.
The bonds were issued by dm City for the pmposc of providing funds to (a) construct, fitmish, 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 fult 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 goveming body of the City.
54
NOTE E - LONG-TERM OBLIGATIONS - Continued
$6,370,000 Special Obligation
Bonds,
Series 2005:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2009
3.500%
$ 635,000 S
254,236
S 889,236
2010
3.500
645,000
232,011
877,011
2011
3.500
655,000
209,436
864,436
2012
3.500
680,000
186,511
866,511
_
2013
3.625
700,000
162,711
862,711
2014
4.000
690,000
137,336
827336
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
$ 6.370 000 $
1,597,743
$7 967743
Principal payments are made annually on June 1, and interest payments are made semi-annually on June l
and Deccinber 1.
InMay 2005, the City of Cape Girardeau issued $8,190,000 of Special Obligation Bonds Series 2005 with
interest rates varying from 3 X, to 5%. The bonds arc special obligations of the City payable solely from
the revenues derived from annual appropriations by the City Council.
The bonds were issued by dm City for the pmposc of providing funds to (a) construct, fitmish, 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 fult 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 goveming body of the City.
54
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
The outstanding bond liability for the Special Obligation Bonds Series 2005 is reflected in the
Govermnental activities.
$1,750,000 Bank of America 2006 Promissory Note:
follows: $1,264,375 for governmental activities and $485,625 for business -type activities
55
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2009
3.63%
S 50,000
$ 32,947
S 82,947
2010
3.63
100,000
60,795
160,795
2011
3.63
100,000
57,165
157,165
2012
3.63
100,000
53,535
153,535
2013
3-63
100,000
50,044
150,044
..
2014
3.63
100,000
46,275
146,275
2015
3.63
100,000
42,645
142,645
2016
3.63
100,000
39,015
139,015
2017
3.63
100,000
35,484
135,484
2018
3.63
100,000
31,755
131,755
2019
3.63
100,000
28,125
128,125
2020
3.63
100,000
24,495
124,495
2021
3.63
100,000
20,925
120,925
2022
3.63
100,000
17,235
117,235
2023
3.63
100,000
13,602
113,602
2024
3.63
100,000
10,005
110,005
2025
3.63
100,000
6,345
106,345
2026
3.63
100,000
2,715
102,715
$_1,750000
S5731Q7
$ 2,323,107
Principal payntenis are made
semi-annually
on January 1
and July 1.
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 93,
purchase of a site for a
future fire station,
equipment
for the sewer and solid waste ILnds, and site
.-
improvements at the new
public works
headquarter. The
outstanding liability for the note is allocated as
follows: $1,264,375 for governmental activities and $485,625 for business -type activities
55
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 9,215-540 67,622,427 $119,t52 $3 438,483 $2,323 107 $ 82,718,709
"1'he cash and investments available to service revenue bonds are $981,062 and 36,357,162 for the
governmental and business -type activities, respectively.
,. The cash and investments avai fable to servi ee the special ohl igation bonds and certi hcates of participation
in governmental activities are $682,240 and $273,038, respectively.
Included in business -type activities restricted cash and investments on the statement of net assets is
$364,426, which is the balance in the 2000 sewer project account which represent incomplete projects at
June 30, 2008. If the project Rinds are not used, the remaining balance can be applied against debt.
50
The annual requirements to amortize all debt outstanding as of June 30, 2008 including total interest
payments
of $24,735,570
are as follows:
Special
Leasehold
Certificates
Year Ending
Obligation
Revenue
Revenue
of
Promissory
June 30,
Bonds
Bonds
Bonds
Participation
Note
'Total
2009
S 1,278,616
$ 7,188,738
$ 39,475
$ 265,253
$ 82,947
$ 8,855,029
2010
1,242,141
6,810,020
39,751
264,240
160,795
8,516,947
_
2011
1,035,091
6,110,407
39,926
262,760
157,165
7,605,349
2012
1,030,966
6,144,343
-
265,760
153,535
7,594,604
2013
1,020,888
6,831,876
-
266,760
150,044
8,269,568
2014
827,336
6,002,990
-
262,160
146,275
7,238,761
2015
1,354,736
5,773,795
-
262,260
142,645
7,531436
�.
2016
127,486
5,842,881
-
266,760
139,015
6,376,142
2017
129,286
5,827,232
-
265,360
135,484
6,357362
2018
130,886
4,802,233
-
263,360
131,755
5,328,234
2019
127,196
2,834,163
-
266,180
128,125
3,355,664
2020
128,484
1,789,199
-
263,130
124,495
2,305,308
2021
129,494
1,664,550
-
264,500
120,925
2,179,469
"
2022
130,244
-
-
-
117,235
247,479
2023
130,781
-
-
-
113,602
244,383
2024
130,969
-
-
-
110,005
240,974
2025
260,940
-
-
-
106,345
367,285
2026
102,715
102,715
$ 9,215-540 67,622,427 $119,t52 $3 438,483 $2,323 107 $ 82,718,709
"1'he cash and investments available to service revenue bonds are $981,062 and 36,357,162 for the
governmental and business -type activities, respectively.
,. The cash and investments avai fable to servi ee the special ohl igation bonds and certi hcates of participation
in governmental activities are $682,240 and $273,038, respectively.
Included in business -type activities restricted cash and investments on the statement of net assets is
$364,426, which is the balance in the 2000 sewer project account which represent incomplete projects at
June 30, 2008. If the project Rinds are not used, the remaining balance can be applied against debt.
50
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
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 $1,278,387
Total $1,278 787
Business-Type Activities:
Golf Course $ 14,568
Sewer 641,490
Softball Complex 9,733
Solid Waste 45,329
Water 288,932
Total $1 000052
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 $26,080,736.
NOTE F- DEFICIT FUND BALANCES/RETAINED EARNINGS
the Park Improvement Projects from Park / Stormwater Sale Tax Fund's. Golf Course Fund's and the
Softball Complex Fund's total liabilities exceeded their total assets by $297, $22,460 and $100,800
respectively.
57
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE G - PENSION PLAN
.� 1. Plan Description
The City of Cape Girardeau participates in the Missouri Local Government Employees Retirement System
(LAGERS), an agent multiple -employer public employee retirement system that acts as a common
investment and administrative agent for local government entities in Missouri.
LAGERS is a defined benefit pension plan which provides retirement, disability, and death benefits to plan
members and beneficiaries. LAGERS was created and is governed by statute, Section RSMo. 70.600 -
70.755. As such, it is the system's responsibility to administer the law in accordance with the expressed
intent of the General Assembly. The plan is qualified under the Internal Revenue Code Section401a and it
is lax exempt.
The Missouri Local Government Employees Retirement System issues a publicly available financial report
that includes financial statements and required supplementary information. That report maybe obtained by
writing to LAGERS, PO Box 1665, Jefferson City, MO 65102 or by calling 1-800-447-4334.
2. Funding Policv
'Che City of Cape Girardeau's full-time employees do not contribute to the pension plan. The political
subdivision is required to contribute at an actuarially determined rate; the current rate is 7.0% (general),
.,
7.0% (police), and 14.3% (fire) of annual covered payroll. The contribution requirements of plan members
are determined by the governing body of the political subdivision. The contribution provisions of the
political subdivision are established by state statute.
3. Annual Pension Cost
For 2008, the political subdivision's annual pension cost of $1,140,078 was equal to the required and actual
contributions. Therequiredcontributionwasdeterminedaspartofthe Fchnrary28,2006and/or February
28, 2007 annual actuarial valuation using the entry age actuarial cost method. Theaetuanal assumptions as
of February 29, 2008 included (a) a rate of return on the investment ofpresent and future assets of 7.5% per
year, compounded annually, (b) projected salary increases of 4.0% per year, compounded annually.
attributable to inflation, (c) additional projected salary increases ranging from 0.0% to 6.0% per year,
depending on age and division, attributable to seniority/ruent, (d) pre -retirement mortality based on the RP -
2000 Combined Healthy Table set back 0 years for men and 0 years for women, and (e) post-retirement
mortalitybased on the 1971 Group Annuity Mortality table projected to 2000 set back I year for men and 7
years for women. "Flit 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, 2006 was 15 years.
58
Note: The above assets and actuarial accrued liability do not include the assets and present value of
benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The actuarial
assumptions were changed in conjunction with the February 28, 2006 annual actuarial valuations. For a
complete description of the actuarial assumptions used in the annual valuations, please contact the
LAGERS office in Jefferson City.
NOTE II - INTEREST EXPENSE
Interest and handling charges, totaling S1,253,603, excluding $7,116 of interfund interest, was incurred by
governmental finds during the year ended June 30, 2008. Interest and handling charges, totaling $961,028,
excluding $56,061 of interfund interest, was incurred by proprietary funds during the year ended June 30,
2008. No interest cost was capitalized as part of the cost of assets constructed during the period.
NOTE I - INTERFUND ACTIVITY
A. The following is a summary of interfund balances as of June 30, 2008:
Advance to/from other fonds:
Advances from Advances to
cener�i rand S 1,077.450 s -
SAd Wmro Fund - 620,000
Golf Course 1: d _ 267,450
Sotthell Complex Fnnd 190,000
$. 1,077,450 $_ 1 a77 450
The interfund balances are a result of advances to purchase capital assets and to pay for operating expenses.
Repayments arc made as cash flows permit. If cash Flows are not sufficient, repayments arc deferred to
.. subsequent years.
59
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE G - PENSION
PLAN - Continued
Three -Year Trend Information
Fiscal
Annual Percentage
Net
Year
Pension Of APC
Pension
Ending
Cost (APC) Contributed
Obligation
06/30/06
S 961,342 100%
$0
06/30/07
$1,065,567 100%
S 0
06/30/08
51,140,078 100%
SO
Note: The above assets and actuarial accrued liability do not include the assets and present value of
benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The actuarial
assumptions were changed in conjunction with the February 28, 2006 annual actuarial valuations. For a
complete description of the actuarial assumptions used in the annual valuations, please contact the
LAGERS office in Jefferson City.
NOTE II - INTEREST EXPENSE
Interest and handling charges, totaling S1,253,603, excluding $7,116 of interfund interest, was incurred by
governmental finds during the year ended June 30, 2008. Interest and handling charges, totaling $961,028,
excluding $56,061 of interfund interest, was incurred by proprietary funds during the year ended June 30,
2008. No interest cost was capitalized as part of the cost of assets constructed during the period.
NOTE I - INTERFUND ACTIVITY
A. The following is a summary of interfund balances as of June 30, 2008:
Advance to/from other fonds:
Advances from Advances to
cener�i rand S 1,077.450 s -
SAd Wmro Fund - 620,000
Golf Course 1: d _ 267,450
Sotthell Complex Fnnd 190,000
$. 1,077,450 $_ 1 a77 450
The interfund balances are a result of advances to purchase capital assets and to pay for operating expenses.
Repayments arc made as cash flows permit. If cash Flows are not sufficient, repayments arc deferred to
.. subsequent years.
59
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE I - INTERFUND ACTIVITY -
Continued
The City makes transfers between various
funds for routine and normal operating
expenses and frucapital
asset requisitions,
B. The following is a summary of interfimd
transfers for the year ended
June 30, 2008:
End
Tran star Front
Trans for 'Ia
General Fund
$ 4,345,7711 $
4103,148
Airport Fund
255,000
848,530
y Park and 12cerenuon Fund
-
577,431
Vision 2000 Fund
-
414
Downtown Business Dxrnct Fund
9,342
-
_
Housing Development Fund
-
23,245
Motor Fuel Tax Fund
1422-400
9,342
Capital Intpi ocen cast Sales Tax -
w Flood Control
-
74,529
Capital Improvement Saks Tax -
water System Improvcmcnts
682,690
157,939
Capital lmprm emeni Sales'I'ax -
ScwcrSystemImproeemems
2,198,604
-
Fnn Sales Tax Fund
?114571
-
_
Public Safery'rmst l and
1,057 285
2,114,511
TmnsporraGon Sales Tax Lust hand III
-
200,000
Dchr Service Fnud
-
255,000
Sheet Improvcrncnr, I nod
-
50,000
Park Improvemmrt, Fund
-
202,400
Cp,i unn, Dcvclopmont Block
a Grant Pmjcct Fund
2620
9,473
Corps Flood Conn.] Project
74,529
-
Wuter System Impmvemem
Pr,ecrs Fund
157,939
562,690
SenorFund
-
7,198AU
WaterI-und
-
120,000
Gulr Course Fund
-
119765
Strbull Complex Fund
-
352,979
Fleet Maaagemcm Fund
-
1,982
Equipment Replacement Fund
161,292
_
$ 12,482,Q42,
12,482,042
60
61
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE J - 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, 2008 was
as follows:
'
Softball
Smaer Water Solid Wastc GolfCouae
Complex
Total
Fund Fund Fund Fund
Fund
Enter
Operating revenues
5 2,856,422 $5,744,527 $3,109,319 S 454,723
S 182,688
$12,347,679
Depreciation
2,052,287 1356,824 166;599 45,171
9,834
3,632,715
Operating lneome(Loss)
(1,657,179) 278,607 127,596 (137,654)
(354,726)
(1,743,356)
Operating ttansfcrs iu
2,198,604 120,000 - 119,765
352,979
2,791,348
Net Incame(l,uss)
1,696,009 647,219 191,646 (23,367)
34,450
2,535,957
'
Current Capital Contributions
1,104,197 217,754 - -
43,569
1,365520
Property, Plant and Equipment
Additions
1,717,815 839,909 142,642 10,700
43,569
2,754,635
Deletions
135,189 392,9117 83,869 -
-
611,965
Net Working Capiml
(1,868,813) 2,276,839 1,152,548 5,820
5,830
1572,224
Total Assets
611,806,742 45450087 2.568,872 301,796
180,078
109907575
'
nonds and Other Long -tarot
Liabilities Payable from
Operating Rcccnuss
27,678,771 5,511,821 1,012951 267,450
1911,000
14,666,993
ural Net Assets
N32,067,774 $19,216,825 SI293960 S (22,460)
S(100,800)
$72.475,299
61
62
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL S'rATFMENTS
,June 30, 2008
NOTE K - RESERVATION OF FUND EQUITY
At June 30, 2008, the City had reserved its fund equity as follows:
General Fund
'
Reserved for emergency fund
$3,219,219
Reserved for prepaid items
77,378
Reserved for advance
1,077,450
_
Reserved for mausoleum maintenance
100,068
Reserved for local access channel
19,071
Reserved for encumbrances
277,422
$4,770,608
Airport Fund
Reserved for prepaid items
S 46,629
Reserved for encumbrances
59,602
$. 106,23.1
Parks and Recreation Fund
Reserved for prepaid items
S 5,765
Reserved for operations and maintenance
28,964
Reserved for encumbrances
2,700
S37 29
Transportation Sales Tax Trust Fund II
"
Reserved for encumbrances
$4,444,526
Transportation Sales Tax Trust Fund III
Reserved for encumbrances
$3,962,.1.96
Other Governmental Funds
Rosen ed for encumbrances
S 990252
Rescued for emergencies
955,823
Reserved for prepaid items
102,783
Reser ed for debt service
255,363
Reserved for mer campus
150,39
$2,454,615
62
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE L - RESERVED RETAINED EARNINGS AND RESTRICTED ASSET ACCOUNTS
At June 30, 2008, the City has restricted assets in its Proprietary Funds as follows:
Depreciation
Revenue Bond
and
Bond
Sinking and
Replacement
Consnuction
Reserve Fund
Total
Sewer Pund $ 127,000
.$ 364,467
$4,480,917
$ 4,972,384
' water Faint 1,180,000
4,043
1,879,644
3,063,687
Solid Waste Fund
3,792
756
4,548
$1,307,000
$,'!72 302
�6 361 317
g$ 040 619
NOTE M - 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 J«ne 30, 1994, and an expense provision and related liability
were recognized at that time based on the future closure and postclosure care costs thatwere 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 $64,000 as Of June 30, 2008, which is based on the
amount that would be paid if all equipment, facilities, and services required to close, monitor, and maintain
the landfill were acquired as of June 30, 2008. however, the actual cost o f 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.
63
.. City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE N - 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. "Chase risks, with the exception of
those discussed in the following paragraphs, are covered by commercial insurance. Settled claims have not
exceeded this commercial coverage in any of the past ten fiscal years.
The City is a member of the Missouri Public Entity Risk Management Fund, a not-for-profit public entity
insurance pool established by the state legislature. Through this pool, the City receives coverage for general
liability, law enforcement liability, errors and omissions, and employee benefit liability. Risks for these
coverages are spread across members ofthe fund. Cwrentlythe find is comprised of 899 Missouri counties,
municipalities, and special districts. Premiums for these coverages are actuarially determined based on
actual claims of the pool and individual claims of the City. Each year, portions of premiums not required
,. because of below expected claims are returned to the members. The City has received refunds of premiums
in each of the last ten years and has used them to offset the cost of the succeeding year's premiums.
.. Vehicle loss and accident liability is carried by Savers Property and Casually Insurance. It is rated "B++"
by A.M. Best.
Airport liability is carried by Specialty Insurance Company. It is rated "A" by A.M. Best.
Property insurance is carried by Chubb Group of Insurance Companies. It is rated "A—+" by A.M. Best
"I'he City has established self-insurance plans for employces' health insurance and workers' compensation.
Both of these are accounted for using internal service funds. Under each plan, the City issubstantially self
-
"' insured and uses an administrator to handle claims management.
The City provided health coverage to its employees through a minimum premium plan administered by
Right Choice Managed Care, which had an "A=' rating by A.M. Best. Under this plan, the City paid the
administrator a monthly premium for claims administration, cost management, and specific and aggregate
stop loss coverage. The City reimbursed the administrator for claims paid up to the specific stop loss
amount of $125,000 and $125,000 annually per employee and up to the aggregate stop loss amount of
approximately $2,400,000 and 52,400,000 annually beginning January 1, 2007 and 2008, respectively, Cor
all employees. "These limits apply only to claims made during the respective calendar years. Rates were
charged by the internal service fund to the other City funds to cover the monthly premium to the
administrator and claims up to the aggregate stop loss amount.
Corporate Claims Management, Inc" administers the City's workers' compensation plan. Under this plan,
the City pays the administrator a pat claim fee to administer its claims" All claims prepaid directly by the
.. City. The City has purchased insurance coverage front Safety National Casualty Corp. that limits the
maximum individual claims to $400,000, for al regular employees. Additionally, $5,000,000 in coveragcis
provided for annual churns in excess of $1,200.000. 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. Safety National is rated "A" by A. M. Best.
64
.. City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL SI'ATEMF,NTS
June 30, 2008
NOTE N - RISK MANAGEMENT - Continued
Claims liability is estimated using data supplied by the administrator. The claims activity during the last
five years is summarized as follows:
CLAIMS LIABILITIES RECONCILIATION
I lealth Workers'
Insurance Compensation Total
approximately .840% of the current year's utility charges and accounts totaling $102,099 were written off
05
Balance June 30, 2003
$ 184,000
$ 243,397
$ 427,397
Provision for Incurred Claims
1,997,671
528,506
2,526,177
Payments of Claims
(1851671)
(416903)
(2268,574)
Balance June 30, 2004
$ 330,000
$ 355,000
$ 685,000
Provision for Incurred Claims
1,761,942
526,837
2,288,779
,.
Payments of Claims
(1,916 942)
(346,837)
(2,263,779)
Balance June 30, 2005
$ 175,000
$ 535,000
$ 710,000
..
Provision for Incurred Claims
2,400,142
548,809
2,948,951
Payment of Claims
(2,065.642)
(378,809)
(2,444,45 1)
Balance June 30, 2006
$ 509,500
$ 705,000
$ 1,214,500
Provision for Incurred Claims
2,520,411
517,676
3,038,087
Payment of Claims
(2,394.1 61)
(552,67
(2,936,93
Balance June 30, 2007
$ 645,750
$ 67U00
S 1,315,750
Provision for incurred Claims
1,812,199
6,009
1,818,208
Payment of Claims
(2,346449)
(406,009)
(2,752458)
Balance ,June 30, 2008
$ 1 I_135Q0
$ _ 27>�(100
$ 381,500
NOTE O - CONCENTRATION OF
CREDIT RISK/BAD
DEBT ALLOWANCE,
The City has uncollateralized utility
accounts receivable
generated within a
limited geographical region
primarily consisting of its City limits.
The City also has
taxes, special assessments,
and user fees receivable
which are concentrated among its citizens.
Some of these items attach as liens
against real and personal
properly. The maximum accounting loss
is the amount shown
as utititycharges receivable on the statement
of net assets.
At June 30,2008, utility receivables totaled
S1,572,832.
On the financial statements,
the utility receivables
are shown net of the allowance for doubtful
accounts of
$131,465. This results
in net utility receivable of
51,441,367. During the year ended June 30, 2008,
the allowance was increased by 594,578 or
approximately .840% of the current year's utility charges and accounts totaling $102,099 were written off
05
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE P - COMMI"1'MENTS AND CONTINGENCIES
1. Litigation
Various claims and lawsuits are pending against the City. In the opinion of City management, the potential
loss on all claims and lawsuits will not be significant to the City's financial statements.
2. Grant Audit
fhe City receives Federal and State Grants Cor specific purposes that are subject to review and audit by
various Federal and State agencies. Such audits could result in a request for rcimburscment by any of the
Federal and State agencies for expenditures disallowed under the terms and conditions of the appropriate
agency. In the opinion of City management, such disallowances, if any, will not be significant"
3. Construction Commitments
As of J une 30, 2008, the City had construction commitments outstanding of $8,773,708. The construction
commitments represent incomplete portions of contracts entered into to construct the following: various
street projects, generator installation at Fire Station 41, fiber optic installation at Fire Station 43, roof repair
at the Wastewater Treatment Plant, the renovation of the terminal building at the Airport, various water
improvements, South Ramsey lift station, wireless connection at the Transfer Station, and housing
rehabilitation. 'these contracts are expected to be completed within the next fiscal year.
4. Encumbrances
As of June 30, 2008, the City had encumbrances outstanding of $9,959,495.13.
NOTE Q— PRIOR PERIOD ADJUSTMENTS
The ($13,156.12) prior period adjustment in the General fund on the Governmental Fund Statement of
Revenues,Expenditures, and Changes in Fund Balance reflects grant revenue recognized in previons years
based on expenditures that were determined to be unallowable this year. The $15,865.19 prior period
adjustment in the Airport fund represents Federal Excise Tax that was paid in prior years on fuel sold to
Military and Federal Civilian Aircraft that should have been refunded to the City. -1 he ($80,681.08) prior
period adjustment in Other Governmental Funds represents ($39,328.90) uncollectible giant revenues that
were recognized in previous years and previous years' understatements of CVB fund expenditures as a
result of inventory being overstated(541,352.18). The ($44,94636)prior period adjustment in Water fund
on the Proprietary Statement of Revenues, Expenses, and Changes in Fund Net Assets reflects a
(532,827.03) decrease in CIP costs on projects that were capitalized in a previous year but upon completion
this year did not meet the City's capital i rat ion threshold and ($12,11933) prior year depreciation on water
main extensions that erroneously were not depreciated in the previous year. The $106,681.62 prior period
adjustment in Internal Service Funds was the June 30, 2007 parts inventory in the Fleet Management fund.
Previously, repair parts were expensed when purchased.
66
City of Cape Girardeau, Missouri
VOTES TO BASIC FINANCIAL. STATEMENTS
,lune 30, 2008
NOTE R - 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
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 564,000. The rates of
the specified sales taxes currently equal 2%. Sales taxes with rates currently equal to I % 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 front the
execution of the agreement.
During the fiscal year ended June 30, 2008, the City paid $23,355 under the development
agreement. This amount is included in the Development Services expenses on the Statement of
Activities.
2. In June 2004, the City of Cape Girardeau and Cape Girardeau County entered into a development
agreement with a local real estate developer. Under the agreement, the local developeragreed 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 reinhburse 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 52,998,434. 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 dale 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 Gom 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.
67
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2008
NOTE R - CONTINGENCY - Continued
The City and the County are obligated only to make quarterly payments as may lawfully be made
from funds budgeted and appropriated for that purpose by the City and County. During the fiscal
yearended June 30,2008, the Cityincurred payments of$91,912under the development agreement.
This amount is included in the Development Services expenses on the statement of activities.
3. During previous fiscal year the City entered into a development agreement with Greater Missouri
Builders, Inc. (GMB) to reimburse them for costs associated with the Town Plaza Redevelopment
Project. In conjunction with this agreement the City established the Town Plaza Community
Improvement District (CID) and determined the project area to be blighted pursuant to Chaptcr 353
of the Missouri Revised Statutes.
This project involves the conversion of the former Sears facility into a call center for National Asset
Recover Services (NABS) and other various improvements, such as facade improvements, parking
facilities, roof reconstruction, and HVAC enhancements. Total reimbursements to GMB for
redevelopment costs were limited to $3.6 million plus 7.5% interest. These reimbursements will be
made from incremental County and City sales tax revenues, an additional CID sales tax, and real
estate tax abatements. Reimbursements from incremental County and City sales tax revenue will he
limited to 51.2 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 Scars 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% of the 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 is still in the process of being completed. No payments have been made by the City to
Greater Missouri Builders.
68
REQUIRED SUPPLEMENTARY INFORMATION
i 1 1 1 1 1 1 1 1 f 1 1 1 i 1 1 1 t i
REVENUES
Taxes
Licenses 8 permits
mar tat
Charges for services
Internal charges
Fines and forfeits
Miscellaneous
Investment revenue
Total revenues
EXPENDITURES
Current
Administrative
Contingency
Development Services
Parks and Recreation
Public Safety
Public Warks
Total current
City of Cape Girardeau
General
Statement of Revenues. Expenditures, and Changes In Fund Balances -Budget and Actual
For the year Ended June 30, 2008
Budgeted Amounts
Original
Final
Administrative Charges
$ 14.009
700,00
S 14,009,700.00
1,363,50000
88.433.00
1.363 500DD
449,614.00
Principal
449,61400
318,680.00
318,680.00
949,50000
949.500.00
915.000.00
915.000.00
246780.00
Administrative
246.780.00
172,67000
-
172,670.00
18,425,444.00
18.425.444.00
2,210,372.00
50,000.00
1 758.431.00
1616.553 00
10.897,888 00
1964 580.00
18,517,824.00
Debt service'.
Administrative Charges
351.00
Interest
88.433.00
Principal
97,99630
Total debt service
186,780.00
Capital outlay:
Administrative
-
Contingency
Development Services
-
Parks and Recreation
-
Public Safety
-
Public Works
Total capital outlay
Total expenditures
18.704604
.00
Excess (deficiency) of revenues
over (under) expenditures
(279,16000)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
4,217,500.00
Special assessments
4,500.00
Advance repayments
23,025.00
Asset disposition
-
Othernon-operating revenue
-
Transfers out
(3 995
837.00)
Total other financing sources and uses and special items
249.188.00
Net change in fund balances
(29972.00)
Fund balances — beginning
4,383,576.63
Prior period adjustment
Fund balances --ending
$ 4,35360463
2.228 022,00
67433400
1,829,308 00
1,689,853.00
11 370,623.00
2.069286.00
19!5011426 00
351.00
88 433.00
97,996.00
186.780.00
1,803.00
67,180.00
50,13200
139,430.00
258.545.00
19,946.751,00
(1,521 3G7 00)
4,21 ,500.00
4,500.90
23,025.00
(4,405.839.00)
(160,81200)
(1,682,11900)
4.383.596-63
$ 2,701457.63
Actual Amounts
5 14,118,027.00
1355,831.06
724,764.85
279,701.(A
674,174 64
782.343.52
269,121.04
189.070.59
18,593,033.76
2,211125.83
613,146.60
1,499,643.32
1,669,90064
10,819.02753
1 954.133.34
18,766977,26
105 76
88,334.76
97,995.97
186.436 49
7,140.00
9, 66.00
1,865.85
67,26265
47,650 77
44,826.00
178,211.27
19.131 625.02
(538,59126)
43113,148.31
913764
23,026 98
3,52074
7,132.00
(4,345.77046)
195.21
(530.396.05)
4,383,67663
(19,156.12)
$ 3,632,02446
Variance with
Final Budget -
Positive
IN ... try.)
$ 108,327.00
(7,668.94)
275,150.85
(38,998.94)
(75,325.36)
(132,656,48)
22,34164
16,400.59
167.589.76
16,896.17
61,18740
329,664.68
19,952.36
251.595.47
55.152.66
73ui 74
245.24
98.24
0.03
34351
(7,140.00)
(9.466.00)
(62.85)
(82.65)
2,481 23
94,604.00
80,33373
815,125.98
982,715.74
85,648.31
4,637.64
1 98
3.520.74
713200
60,066.54
161,007,21
1,143,722.95
(13,15612)
$ 1,13056683
1 1 Y i Y 1 1 1 i Y i i 1 1 1 1 1 Y t
City of Cape Girardeau
Airport
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2008
Budgeted Amounts
Original Final
REVENUES
Intergovernmental $ 167,000.00 $ 167,00000
Charges for services 1,257,300.00 1,257,300.00
Miscellaneous
357,008.00
Investment revenue
Total revenues
1,78i,308.00
EXPENDITURES
Current:
Administrative
2,123,136.00
Total current
2,123,13600
Debt service:
O Interest
2
450.00
Principal
16,593.00
Total debt service
19,043.00
Capital outlay:
Administrative
Total capital outlay
Total expenditures
2,142,179.00
Excess (deficiency) of revenues
over (under) expenditures
(360,871,00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
525,871.00
Asset disposition
-
Transfers out
(255,000.00)
Total other financing sources and uses and special items
270,871,00
Net change in fund balances
(90,000.00)
Fund balances — beginning
163,06377
Prior period adjustment
Fund balances --ending
$ 73,063.77
2,280,386.00
2,260,386.00
2,450.00
16,593.00
19.043.00
547,259.00
547,259.00
2,846,688.00
(1,065,380.00)
815,871.00
(255,000.00)
560.871.00
(504,509.00)
$ (341,445.23)
Actual Amounts
$ 739,291.33
1,381,510.53
209,815.51
3,483.11
2,334,100.48
2,317,367.61
2,317,367.61
635.152.01
635.152.01
2,972,486.36
(638.385.88)
848,530 46
6,860.50
(255,000.00)
600,390.96
(37,994.92)
163,063.77
15,865.19
$ 140,934.04
Variance vnth
Final Budget -
Positive
(Negative)
$ 572,291.33
124,210.53
(147,192.49)
3,483.11
552,792 48
(36,981.61)
(36,981.61)
(87,893.01)
(87,893.01)
(125,798.36)
426,994.12
32,659.45
6,860.50
39,519.95
466,514.08
15,865.19
$ 482,379.27
If i Y i 1 1 1 i 1 1 i i 1 Y 1 i 1 1 i
City of Cape Girardeau
Park add Recreation
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2008
Variance with
Final Budget -
Positive
(Negative)
$ 136.84
(17,815.89)
10,952 28
3451 19
(3275.58)
37,977.50
37,977,50
(321.96)
(321.96)
(5,453.00)
(5,453.00)
32,202.54
28,926.96
(11 859.80)
17,416.63
5,556.83
$ 34,483.79
Budgeted
Amounts
Original
Final
Actual Amounts
REVENUES
Intergovernmental
$
-
$
-
$
136.84
Charges for services
599,65000
599,850.00
582,034.11
Miscellaneous
3,125.00
3,125.00
14,077.28
Investment revenue
2,925.00
2,925.00
6,376.19
Total revenues
605,900.00
605,900.00
602,624.42
EXPENDITURES
Current:
Parks and Recreation
1,440,191.00
1511,183.00
1 473
205.50
Total current
1,440,191.00
1511,183.00
1,473.205.50
Debt service:
_ Interest
-
-
321.96
Total debt service
321.96
Capital outlay.
Parks and Recreation
-
9,560.00
15,013.00
Total capital outlay
9,560.00
15.013.00
Total expenditures
1,440,191.00
1,520,743.00
1 488,540.46
Excess(defidency) of revenues
over (under) expenditures
(834,29100)
(914,843.00)
(885,916.04)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
834,291.00
889,291.00
877,431.20
Asset disposition
-
17,416.63
Total other financing sources and uses and special items
834,291.00
889,291.00
894.847.83
Net change in fund balances
-
(25,552.00)
8.93179
Fund balancesbeginning30,796.83
30,796.83
30,796.83
Fund balancesending$
30,796.83
$ 5.244.83
$ 39,728.62
Variance with
Final Budget -
Positive
(Negative)
$ 136.84
(17,815.89)
10,952 28
3451 19
(3275.58)
37,977.50
37,977,50
(321.96)
(321.96)
(5,453.00)
(5,453.00)
32,202.54
28,926.96
(11 859.80)
17,416.63
5,556.83
$ 34,483.79
i Y 1 1 1 Y 1 1
1
1
1 1 1
i 1
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, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
S 145,440.00
$ 145,440.00
$ 300.920.06
$ 155,480.06
Total revenues
145,440.00
145,440.00
300,
920.
D6
155,480.06
EXPENDITURES
Capital outlay.
Capital Improvement Projects
359.300.00
4,984,300.00
4,873,28471
111,01529
Total capital outlay
359,300.00
4,984,300.00
4,873,28471
111,015.29
Total expenditures
359,300.00
4,984,300.00
4,873,284.71
111,015.29
J
N
Excess (deficiency)of revenues
over (under) expenditures
(213,860.00)
(4,838,860.00)
(4.572.364
65)
266.495.35
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments
41,655.00
41,655.00
41,423.89
(231.11)
Total other financing sources and uses and special items
41,655.00
41,655.00
41,423.89
(231.11)
Net change in fund balances
(172,205.00)
14,797,205 OO)
(4,530.940.76)
266,264.24
Fund balances — beginning
5,666,219.19
5,666,219.19
5,666.219.19
Fund balances — ending
$ 5,494
014 19
$ 869,014.19
$ 1,135,278.43
$ 266,264.24
1 i f Y Y i Y 1
i
I Y
i l
1
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, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 4,367,000.00
S 4,367,000.00
$ 4,234 481
40
$ (132,518.60)
Intergovernmental
-
-
7,400.00
7,400.00
Miscellaneous
-
-
23,136.47
23,13647
Investment revenue
145,50000
145,50600
321,070.41
175,57041
Total revenues
4,512,500.00
4,512,500.00
4,566,088.28
73,588.28
EXPENDITURES
Current
Development Services:
77,500.00
77,500.00
51799.82
25,700.18
Total current
77.500.00
77,500.00
51,799.82
25,700.18
Capital outlay:
Capital Improvement Projects
7,095,800.00
7.095,800 00
6,482,494.81
613,305.19
Total capital outlay
7,095,800.00
7,095,80000
6,482,494.81
613.305.19
Total expenditures
7,173,300.00
7,173,300.00
6,534,294.63
639,005.37
Excess (deficiency) of revenues
over (under) expenditures
(2,660,800-00)
(2,660,800.00)
(1,948.206.35)
712,593.65
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
200,000.00
200,000.00
200,000.00
Total other financing sources and uses and special items
200,000.00
200,000.00
200,000.00
Net change in fund balances
(2,460,800.00)
(2.460,80000)
(1,748,206.35)
712,593.65
Fund balancesbeginning4,825,08676
4,825,086.76
4,825,086.76
-
Fundbalances --ending
$ 2,364,286]6
$ 2,364,286.76
$ 3,076,880.41
$ 712,593.65
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2008
BUDGETS AND BUDGETARY ACCOUNTING
The City adopts annual operating budgets for all funds except Park Improvement Projects from Park
/ Stormwater Sale Tax Fund and Water System Improvement Project Fund which have project length
budgets.
The City follows these procedures in establishing the budgetary data reflected in the financial
statements,
I. The City Manager submits to the City Council a proposed operating budget for the fiscal
year ending the following June 30th at the first meeting of June each year. The operating
budget includes proposed expenditures and the means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
+ 3. Prior to July 1, the budget is legally enacted through passage of an ordinance.
+ 4. The City Manager is authorized to transfer budgeted amounts between programs within
any department, however, any revisions that after 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 18, 2007 and amended on April 7,
2008, and July 7, 2008. The initial budget and final amended budget are both reflected in
the financial statements.
For the year ended June 30, 2008, the fund expenditures for Airport, Motor Fuel, Debt Service,
General Capital Improvements, Softball Complex, and Fleet Management funds exceeded their
approved budgets by $125,798, $4,532, $376, S3, $11,523 and S19t,904, respectively.
74
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2008
BUDGETS AND BUDGETARY ACCOUNTING - Continued
The Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds
reports revenues and expenditures on the modified accrual basis of accounting in accordance with
GAAP. The Statements of Revenues, Expenditures, and Changes in Fund Balances - Budget and
Actual (Budget Basis) for all governmental fund types is prepared on a budgetary basis which
includes encumbrances as expenditures.
The following reconciliation adjusts GAAP basis to budget basis:
ILmeca (Def icicncy) or Nevenucs and Olher
Financing Sources Ova(Undo) Fxpendiwree and
� OIM1cr llinancin¢I'xe
Parksaad Transpo(ation l'lansportotimt Ron -major
Gcnnal Amur K_c }iug 11"t It Tnn'tIn I_unds
MAPRaas [(355,891) S(17,2 -,b) S 8,893 5 (396,931) $1726,174 1 244,977
locmascdoe w:
YCaraad cnaimbiall cs
.� Admini_ew1.—a — 10760 39,683 - - - -
Developmentservlc' 16 )19 - - -
Pa, P,endn... aaoo 4,719 - 3,267 - - -
"bliosai ty 24616 - - - - 55A13
Public%ko,k, 39951 - - - - -
'� Capiml outlay 165'87 5117. £61575
Adcu eli ul l_er funds 23.027 - - - - -
.Ad,stiiavc,tmcnSrnmatkct - - - - 108
Asset dl,11110inns - - 100
Fcunibraoce rcl'enoe 56 11483 __ - ❑2591
_
119,449 _71 [bb 3,W _65,2R7 5117011 );969"1
ti D,,raa, doe (n:
Neat and cit.... arm
Admioisuativc sal i'Lt Uta) 59,601 23]93
Demlopmea r surciees 470 - - - - 40,1(,5
Parks and recreation 4316 2]00 - - -
Public oaldy 1,705 - - - 13,21,0
Public anrsn 10.940 - - - -
Capitnlonda) - - - 4,444,527 3,962,IVM1 2-11,277
eonongcncti 249,471 - - -
„� Fnu(e aot hndgot d 1111I)AN - - - - 112,662
Lncumbrancv leccnuc 9725 11.727 - 31,198 20,112 209,220
Assoc d,la,111.6n-s - - 300
Adius( invest l6 market 14,89-1 ti. 29 33,772 23 771 :9160
_ 30044 7y885 3528 4,509699 4006080 1,134,127
Ridgy 311.1 83519,396) 3_.(31,995) S 9,932 $ .(4.530941) i(L_@8x06) 8 �I49 X5}1
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.
75
70
City of Cape Girardeau, Missouri
NOTES TO
BUDGETARY COMPARISON
SCHEDULES
June 30, 2008
BUDGETS AND BUDGETARY ACCOUNTING - Continued
Net Income (Loss)
Solid
Golf
Softball
Sower
Water
Waste
Course
Conwlex
GAAP Basis
S 1,696,009
S 647,219 S
181,646 5
(23,367)
$ 34,450
Increase due to
.�
Prior year encumbrances
Operating expanses
19,094
33369
-
1,605
50
Capital Outlays50,813
31,935
612
-
-
Dcpieciation
2,052,287
1,356,824
168,599
45,171
9,834
+•
Special assessments
53,375
16,983
-
-
-
Interest net amortized
543,435
-
-
-
-
Costofbondrefitndingamortiiation
370
71,587
269
-
-
Deferred revenue
3,291
32,606
-
-
-
Issuance oust amortization
36,800
26,102
554
-
-
Amounts deterred to be used fm future debt
service on uspitul appreciation bonds
Construction fund earnings
186,140
-
-
-
-
"'
Interest subsidy received
451,925
-
-
-
-
Assctdisposmons
23,513
64231
3.500
-
-
_ 3,421,043
1633.6_37
173,53
46,77
9,884
Decrease due to.
Year-end encumbrances
0"'cong cxpmtscs
14,130
11,173
470
400
68i
Corral outlays
14340,5
26,550
5,994
-
-
'
Landfill closure and
intone.. cc costs
-
-
3,304
-
Interest paid more than aecmal
22,542
10,951
439
-
-
Bond principal paid
3,044683
881,753
53,314
23,027
-
AmortizedBondpremiumdlscount
1,785
20,727
841
-
-
Capitaloutluys
850,101
665,622
146,142
-
-
Adjosliusestmentstomarket
5687
33,811
5,531
191
102
Asset Dispositions
22,500
-
-
-
-
r
Dcfcrred rcvcnuov
-
-
15,392
-
-
Lncumbrauce related revenue
18,978
-
-
-
-
Adjustment to liability for future landfill
posmlosurc maintenance cus¢
-
-
697
Cnntdbwed capital
984.2=6
217754
4y568
IIB O"711
1,868,341
237124 _..
_23!18
44,3v
Budget Basis
1. 8,982
$ 413s15. 5
12 (j$ $....(349)
S _ _t_21)
70
77
City
of Cape Girardeau,
Missouri
NOTES TO BUDGETARY
COMPARISON SCHEDULES
June
30, 2008
BUDGETS AND BUDGETARY ACCOUNTING
- Continued
Net Income
(Loss)
❑aia
Fl�tt rniplo�tic
Risk
Equipmcnl
a
Procrsssg
Manu Fnnee
Manaeem
Renlacemen
GAAP Basis
$ 98,114
$(145,295) 8 684,977
$ 471,391
$ 116,042
_ Increase due to:
Prior year encumbrances
Operating expenses
1,720
120 2,501
-
-
Depreciation
29,916
19,580 -
-
231,905
Deferred revenues
-
I51271 -
-
-
Issuance cost amortization
-
68 -
-
546
Difference between proceeds from
sale of fixed assets and gain or loss
-
- -
-
2,200
Adjust investments to market
10
=
-
31,646
17L0 9 01
234651
_
Decrease due to:
_2
Year-end encumbrances
Operating expenses
85
122 -
-
-
Capital outlays
-
- -
-
19.784
Interest paid more than accrued
-
- -
-
204
Adjust investments to market
-
1,033 286
10,243
8.11'5
Amortized Bond premium discount
-
- -
-
61
Principal paid
-
9,750 -
-
70,000
Capital outlays
49,996
8334 -
-
161,244
50,081
_ 1 Y 239239 286
_
10,243
___
259,478
Budget Basis
S _ 79(_9
$ 6,505 $ 687,192
$ 461,148
S 91,26r
77
I 1 1 1 1 1 i i i i i t i i i i 1 1 i
CITY OF CAPE GIRARDEAU, MISSOURI
Schedule of Fundine ProKress
June 30, 2008
(b) (b -a)
[(b-a)/c)]
(a)
Entry Age Unfunded
(c)
UAL as a
Actuarial
Actuarial
Actuarial Accrued
(a/b)
Annual
Percentage of
Valuation
Value
Accrued Liability
Funded
C,,, �,ed
Covered
Date
Of Assets
Liability (UAL)
Ratio
Payroll
Payroll
2/28/2006
$ 29,658,595
$ 27,646,616 (2,011,979)
107%
$ 12,249,700
2/28/2007
31,670,051
29,087,073 (2,582,978)
109%
13,120,224
2/29/2008
33,474,714
30,743,406 (2,731,308)
109%
13,845,635
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 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ $
$
137.11
$ 137.11
Total revenues
137.11
137.11
EXPENDITURES
Current
Administrative
1.000.00 1,000.00
414.00
58600
Total current
1.000.00 1,000.00
414.00
586.00
Total expenditures
1,000.00 1,000.00
414.00
586.00
Excess(deficiency) of revenues
over (under) expenditures
(1,000.00) (1,000.00)
(276.89)
723.11
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers in
1,000.00 1.000.00
414.00
(586.00)
Total other financing sources and uses and
special items
1,000.00 1,000.00
414.00
(586.00)
Net change in fund balances
- -
137.11
137.11
Fund balances --beginning
2,640.44 2,640.44
2.64044
Fund balances — ending
$ 2,640.44 $ 2.640.44
$
2,777.55
$ 137.11
i 1 1 1 1 i 1
Y 1 1
1 1
1
i / i i
1 1
City
of Cape Girardeau
Convention and Tourism
Statement of
Revenues,
Expenditures,
and Changes in Fund
Balances-
Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Posilive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 1,596,600.00
$ 1,596,600,00
$ 1,672,155.33
$ 75,555.33
Miscellaneous
-
-
9,653.85
9,653.85
Investment revenue
45,000.00
45,000.00
43,326.17
(1,673.83)
Total revenues
1,641,600.00
1.641,601
1,725,135.35
83,535.35
EXPENDITURES
Current
Administrative
1,694,500.00
2,053,110.00
1,883,799.17
169,31083
sc Total current
1,694,500.00
2,053,110.00
1,883,799.17
169,310.83
Total expenditures
1,694,500.00
2,053,110.00
1,883,799.17
169,310.83
Excess (deficiency) of revenues
over (under) expenditures
(52,900.00)
(411,510.00)
(158.663.82)
252,846.18
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
Netchangeinfundbalances
(52,900.00)
(411,510.00)
(158,663.82)
252,846.18
Fund balances --beginning
1,133,932.97
1,133,932.97
1,133,932.97
-
Prlorperlodadfustment
(41,352.18)
(41,35218)
Fund balances --ending
$ 1,081,032.97
$ 722,422.97
$ 933,916.97
$ 211,494.00
I f
i Y
$ 1 i 1
1 1
City of Cape Girardeau
Downtown Business District
Statement of Revenues, Expenditures, and Changes
in Fund Balances
- Budget and Actual
For the Year Ended
June 30, 2009
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 19,925.00
$
19,925.00
$ 20,784.40
$
85940
Investment revenue
375.00
375.00
3,442.85
3,067.85
Grant revenue
1 000.00
1,000.00
Total revenues
20,300.00
20,300.00
25,227.25
4,927.25
EXPENDITURES
Cunent
Development Services
5,300.00
6,158.15
11,481.06
(5,322.91)
Total current
5,300.00
8,158.15
11,481,06
(5,322.91)
Capital outlay:
¢ Development Services
15,000.00
14,141.85
14,141.85
_ Total capital outlay
15,000.00
14.141.85
-
14.141.85
Total expenditures
20,300.00
20,300.00
11,481
06
8.818.94
Excess (deficiency) of revenues
over (under) expenditures
-
-
13,746.19
13,746.19
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers out
(9,50000)
(9,341.64)
158.36
Total other financing sources and uses and
special Items
-
(9,500.00)
(9.341.64)
158.36
Net change in fund balances
-
(9,500.00)
49404.55
13,904.55
Fund balances — beginning
669876.29
66,876.29
66,876.29
-
Fundbalances— ending
$ 66,876.29
$
57,376.29
$ 7128084
$ 139904.55
I 1 1 1 1
1 1 i I
i
1
I
City of Cape Girardeau
Health
Statement of Revenues, Expenditures, and Changes In Fund Balances -
Budget and Actual
For the Year Ended
June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 285,37500 $
285,375.00
$ 298,27623
$ 12.90123
Licenses & permits
6,000.00
6,000.00
5,382.00
(618.00)
Intergovernmental
7700.00
],]00.00
7,290.92
(409.08)
Investment revenue
15,950.00
15,950.00
20,628.84
4,678.84
Total revenues
315,025.00
315.025.00
331,5]].99
16,552.99
EXPENDITURES
Current:
Public Safety
316,46700
316.467.00
28],439.1]
29,027.83
Total current
316,467.00
316,46].00
287439.17
29,027.83
so Total expenditures
316,467.00
316.46700
287,439.17
29,027.83
N
Excess (deficiency) of revenues
over (under) expenditures
(1,442.00)
(1,442,00)
4,138.82
45,580.82
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
Netchangelnfundbalances
(1,442.00)
(1,442.00)
44,138.82
45,580.82
Fund balances --beginning
363]04.12
363,]04.12
363,]04.12
-
Fundbalances --ending
$ 362,262.12 $
362262.12
$ 40],842.94
$ 45,580.82
► ► ► ► ► 1 ► ► i 1 1 1 1 If 1 1 ► 1 {
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, 2008
Variance with
Final Budget -
Positive
(Negative)
$ (134,950.55)
6.985.88
(127,964 67)
(193.37)
(193.37)
(4,339.07)
(4,339.07)
(4,532.44)
(132,497.11)
(158.36)
4,528.55
4,370.19
$ (128,126.92)
Budgeted Amounts
Original
Final
Actual Amounts
REVENUES
Intergovernmental
$ 1,495,000.00
$ 1,495,000.00
$ 1,360,049.45
Investment revenue
4,500.00
4,500.00
11,485.88
Total revenues
1,499,500
00
1,499,500.00
1371,535.33
EXPENDITURES
Current:
Public Works
-
26,400.00
26,593.37
Total current
26,400.00
26,593.37
Capital outlay:
Capital Improvement Projects
13,000.00
17,339
07
a Total capital curdy
13,000.00
17,339.07
w
Total expenditures
39,400.00
43.932.44
Excess (deficiency) of revenues
over (under) expenditures
1499500.00
1,460,100.00
1327,602.89
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
-
9500.00
9,341.64
Special assessments
-
-
4,528.55
Transfers out
(1,422,400.00)
(1,422,400.00)
(1422,400.00)
Total other financing sources and uses and special items
(1,422,400.00)
(1,412,900.00)
(1,408,529.81)
Net change in fund balances
77,100.00
47,200.00
(80,926.92)
Fund balances -- beginning
255,430.05
255,430.05
255,430.05
Fund balances — ending
$ 332.530.05
$ 302,630.05
$ 174,503.13
Variance with
Final Budget -
Positive
(Negative)
$ (134,950.55)
6.985.88
(127,964 67)
(193.37)
(193.37)
(4,339.07)
(4,339.07)
(4,532.44)
(132,497.11)
(158.36)
4,528.55
4,370.19
$ (128,126.92)
III 1
1
1
1 1
1 1
1 1
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, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 3,500.00
$ 3,50000
$ 3,202.88
$ (297.12)
Total revenues
3,500.00
3.500.00
3,202.88
(297.12)
EXPENDITURES
Current:
Public Works
14,081,23
(14,081
23)
Total current
14,081.23
(14,081.23)
Capital outlay:
A Capital Improvement Projects
153.70000
153,700.00
3155338
122,146.62
Total capital outlay
153700,00
153,70000
31,553.38
122,146.62
Total expenditures
153,700.00
153,700.00
45,634.61
108,06539
Excess (deficiency) of revenues
over (under) expenditures
(150,20000)
(150,200.00)
(42,431
73)
107,768.27
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfer in
74,529.00
74,528.97
(0.03)
Total other financing sources and uses and special items
74,529.00
74,528.97
(0.03)
Net change in fund balances
(150,200.00)
(75,671.00)
32,097.24
107,768.24
Fund balances — beginning
28,48924
28,489.24
28,489.24
Fund balances — ending
$ (121,710.76)
$ (47,181.76)
$ 60,586.48
$ 107,768.24
City of Cape Girardeau
Capital Improvement
Sales Tax-Water System Improvements
Statement of Revenues,
Expenditures, and Changes
in Fund Balances - Budget and
Actual
For the Year Ended
June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final Actual Amounts
(Negative)
REVENUES
Taxes
$ 2,250,000.00
$
2,250,000.00
$ 2.181,04449
$ (68.955.51)
Investment revenue
128,000.00
128,000 00
134,340.11
0340.11
Total revenues
2,378,000.00
2,378,000.00
2,315,384.60
(62,615.40)
EXPENDITURES
Current:
Development Services:
38,750.00
38,750.00
25.894.91
12,855.09
Total current
38,750.00
38,750.00
25,894.91
12,855.09
w
r^ Debt service:
Administrative charges
70,865.00
70,865.00
61,072.13
9,792.87
Interest
645,695.00
692,848.00
692,847.82
0.18
Principal
1,000,000.00
1,000.000.00
1,000,000.00
Total debt service
1,716,560.00
1,763,713.00
1,753,919.95
9,793.05
Total expenditures
1,755,310.00
1,802,463.00
1.779.614A6
22,648.14
Excess (deficiency) of revenues
over (under) expenditures
622,690.00
575,537.00
535,569.74
(39,967.26)
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers in
60,000.00
60,000.00
157,939.36
97,939.36
Transfer out
(682,690.00)
(682,690.00)
(682,690.00)
Total other financing sources and uses and
special items
(622,690.00)
(622,690.00)
(524,750.64)
97,939.36
Net change in fund balances
-
(47,153.00)
10819.10
57,972.10
Fund balancesbeginning2,712,319.09
2,712.319.09
2,712,319.09
Fund balancesending$
2,712,319.09
$
2,665,166.09
$ 2.723,138.19
$ 57,972.10
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, 2008
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 53,030.00
$
53,030.00
$ 50,712.34
$ (2,317.66)
Total revenues
53,030.00
53,030.00
50,712.34
(2,31L66)
EXPENDITURES
Debt service.
Administrative charges
2,500.00
2,500.00
177.41
2,322.59
Interest
27,79500
27,798.00
27,798.00
-
Principal
123,000.00
123,000.00
123,000.00
Total debt service
153,298.00
153298.00
150,97541
2,322.59
y
Capital outlay:
Capital Improvement Projects
-
38,000.00
39,298.51
(1,298.51)
Total capital outlay
38,000.00
39,298.51
(1,298.51)
Total expenditures
153,298.00
191,298.00
190,273.92
1,024.08
Excess(defidency) of revenues
over (under) expenditures
(100,268.00)
(138,268,00)
(139,561.58)
(1,293.58)
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Special Assessments
103,708.00
103,708.00
191,008.13
87,300.13
Total other financing sources and uses and
special items 103,708.00
103.708.00
191,008.13
87,300.13
Net change in fund balances
3,440.00
(34,560.00)
51
446.55
86,006.55
Fund balances — beginning
333,011
333,085.94
333,085.94
Fund balances --ending
$ 336,525.94
$
298,525.94
$ 384,53249
$ 86,006.55
i f 1 Y 1 1
1
1 1
1 ►
1 1 1
1
1 1
i i
City of Cape Girardeau
Capital Improvement Sales Tax -Sewer System Improvements
Statement of
Revenues, Expenditures, and Changes
In Fund Balances - Budget and
Actual
For the Year Ended
June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final Actual Amounts
(Negative)
REVENUES
Taxes
$ 2,250,000.00
$
2,250,000.00
$ 2,181,157.08
$ (68,842.92)
Investment revenue
20,500.00
20,500.00
21,709.64
1,209.64
Total revenues
2,270,500.00
2,270,500.00
2,202,866.72
(67.633.28)
EXPENDITURES
Current
Development Services
38,750.00
38,750.00
25,894.91
12,855.09
Total current
38,750.00
38,750.00
25,894.91
12,855.09
w Total expenditures
38,75000
38,750.00
25,894.91
12,855.09
J
Excess (tleflciency) of revenues
over (under) expenditures
2,231,750.00
2,231,750.00
2,176.971.81
(54,778.19)
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers out
(2,198,604.00)
(2,198,604.00)
(2,198,6(14.00)
Total other financing sources and uses and
special items
(2,198,604.00)
(2,198,604.00)
(2,198,604.00)
Net change in fund balances
33,146.00
33,146.00
(21,632.19)
(54,778.19)
Fund balances — beginning
834,621.79
834,621.79
834,621.79
Fund balancer -- ending
$ 867,767.79
$
867,767.79
$ 812,989.60
$ (54,77119)
i
1 1 1
1 i
It It
It In
City
of Cape Girardeau
Fire Sales Tax Fund
Statement of
Revenues,
Expenditures,
and Changes in Fund Balances-
Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 2,188,000.00
$ 2.188.000.00
$ 2,115,459.62
$ (72,540.38)
Investment revenue
5,300.00
5,300.00
5,397.11
97.11
Total revenues
2,193,300.00
2,193,300.00
2.120,85673
(72,443.27)
EXPENDITURES
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
2,193,300.00
2,193,300.00
2,120,856.73
(7244327)
w
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfer out
(2,165,000.00)
(2,165,000.00)
(2,114,570.91)
5042909
Total other financing sources and uses and
special items
(2,165,000.00)
(2,165,000.00)
(2,114,570.91)
50,429.09
Net change in fund balances
28,300.00
28,300.00
6,285.82
(22,014.18)
Fund balances -- beginning
175,136.44
175,136.44
175,136
44
Fund balancesending$
203.436.44
$ 203,436.44
$ 181,42226
$ (22,014.18)
i 1 1 1 i
i 1
1 i
1 i
1 1 1 1
1 1
City of Cape
Girardeau
Public Safety
Trust Fund
Statement of
Revenues,
Expenditures, and Changes in Fund Balances -
Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Charges for services
$ 16.800.00
$ 16.800.00
$ -
$ (16,800.00)
Investment revenue
33.200.00
33,200.00
84,278.00
51,078.00
Total revenues
50,000.00
50,000.00
84,278.00
34,278
00
EXPENDITURES
Current:
Public Safety
66,33].00
68,850.36
(2,51336)
Total current
66,337.00
68,850.36
(2,513.36)
a
Debt service:
Administrative charges
-
-
342.10
(342.10)
Interest
222,778.00
225,978.00
224,444.90
1,533.10
Principal
536,500.00
536,500.00
536,500.00
Total debt service
759278.00
762.478.00
761,287.00
1,191.00
Capital outlay:
Capital Improvement Projects
-
195,600.00
186,893.71
8,706.29
Public Safety
255,170.00
274,746.00
273,68874
1,057.26
Total capital outlay
255,170.00
4]0,346.00
460,582.45
9,763.55
Total expenditures
1,014,448.00
1,299,161.00
1,290,719.81
8,441
A9
Excess (deficiency) of revenues
over (under) expenditures
(964,44800)
(1249,16100)
(1,206,441.81)
42]1819
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
2,165,000.00
2,165,000.00
2,114,570.91
(50,429.09)
Transfer out
(1,082,500.00)
(1082,50400)
(1,057 285 46)
25,214.54
Total other financing sources and uses and special items
1,082,500.00
1,082,50000
1,057,285.45
(25,214.55)
Net change in fund balances
118,052.00
(166,661.00)
(145156.36)
17,504.64
Fund balances-- beginning
1,441,983.11
1,441 t983 11
1,441,983.11
-
Fundbalanoes --ending
$ 1,560,035.11
$ 12]5,322.11
$ 1,292,82675
$ 17,504.64
1 i 1 1 1 III 1 1 1 i 1 i i 1 i 1 i 1 1
City of Cape Girardeau
Debt Service
Statement of Revenues, Expenditures, and Changes in Fund Balances- Budget and Actual
For the Year Ended June 30, 2008
Variance with
Final Budget -
Positive
(Negative)
$ 4.68
(1,306.65)
(1,301.97)
(5 62)
(5.62)
1,081.59
(1,677.83)
1,878.78
1,878.78
200.95
$ 200.95
Budgeted Amounts
Original
Final
Actual Amounts
REVENUES
Taxes
$ -
$
-
$
4.68
Miscellaneous
27,738.00
27,738.00
2773800
Investment revenue
26,590.00
26,590.00
25,283.35
Total revenues
54,328.00
54,320.00
53,026.03
EXPENDITURES
Cunent
Debt Service
5.62
Total current
-
5.52
O
Debt service:
Administrative charges
4,000.00
4,000.00
2,918.41
Interest
153,110 00
155,610
00
157,061.83
Principal
179,800.00
179,800.00
179,800.00
Total debt service
336,910.00
339,410.00
339,78024
Total expenditures
336,910.00
339,410.00
339,785.86
Excess (deficiency) of revenues
over (under) expenditures
(282,582.00)
(285,082.00)
(256,759.83)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
255,000.00
255,000.00
255,000.00
Special assessments
33,000.00
33,000.00
34,878.78
Total other financing sources and uses and special items
288,000.00
288,000.00
289,878.78
Net change in fund balances
5,418.00
2,918.00
3,118.95
Fund balances — beginning
300,303.50
300,303.50
300,303.50
Fund balances — ending
$ 305,72150
$ 303,221.50
$ 303,422.45
Variance with
Final Budget -
Positive
(Negative)
$ 4.68
(1,306.65)
(1,301.97)
(5 62)
(5.62)
1,081.59
(1,677.83)
1,878.78
1,878.78
200.95
$ 200.95
i 1 1 1 1 1 1
i 1 1 i 1 1
1 1
1 1
1 1
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, 2008
Variance with
Budgeted Amounts
Final Budget -
Pesitive
Original Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 9,000.00 $ 9,000.00
$ 10,614.80
$ 1,614.80
Total revenues
9,000.00 9,000.00
10,614.80
1,614.80
EXPENDITURES
Capital outlay:
Capital improvement Projects
-
2.98
(2.98)
Total capital outlay
2.98
(2.98)
Total expenditures
2,98
(2.98)
y Excess(deficiency) of revenues
over (under) expenditures
9,000.00 9,000,00
10,611.82
1611.82
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special Items
-
-
Net change in fund balances
9.000 00 9,000.00
10,611.82
1,611.82
Fund balancesbeginning205,353.09
205353.09
205,353.09
-
Fundbalances—ending
$ 214,353.09 $ 214,353.09
$ 215,964.91
$ 1,611.82
1
1
1 1 If 1
1 1
1 I
t A
City of Cape Girardeau
Street improvements
Statement of
Revenues,
Expenditures,
and Changes in Fund Balances -
Budget and Actual
For the
Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 10,788.00
$ 10,788.00
$ 11,105.43
$ 31L43
Total revenues
10,788.00
10,788.00
11,105.43
317.43
EXPENDITURES
Capital outlay:
Capital Improvement Projects
91.100.00
91,100.00
60.194.04
30,905.96
Total capital outlay
91,100.00
91,10400
60,19404
30,905.96
Total expenditures
91,100.00
91.100,00
60,194.04
30,905.96
N
Excess (tle8ciency)Of revenues
ever (under) expenditures
(80,312.00)
(80,312.00)
(49088.61)
31,223.39
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers In
50,000.00
50,00000
50,000.00
-
Special Assessments
24.928.00
24,928.00
61,15075
36,222.75
Total other financing sources and uses and
special items
74,928.00
74,928.00
111,150.75
36,222.75
Net change in fund balances
(5,38400)
(5,384.00)
62,062.14
67,446.14
Fund balances — beginning
50,365.64
50,365.64
50,365.64
-
Fundbalances-- ening
$ 44,981.64
$ 44,981.64
$ 112,427.78
$ 67,446.14
I 1 i
i
f
f
1 1
i Y
City of Cape Girardeau
Park Improvements
Statement of
Revenues, Expenditures,
and Changes in Fund
Balances -
Budget and Actual
For the
Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual
Amounts
(Negative)
REVENUES
Intergovernmental
$ 776.70000
$ 776.700.00
$
4,721,06
$ (771,978.94)
Investment revenue
2,39600
2,396.00
Total revenues
776.100.00
776.100.00
7,111.06
(769,58294(
EXPENDITURES
Capital Outlay
Capital Improvement Projects
979,100.00
979,100.00
32,348.14
946,751.86
Total capital outlay
979,100.00
979,100.00
32,348.14
946,751.86
Total expenditures
979,10000
979,100.00
32,348.14
946751.86
w
Excess (deficiency) of revenues
over (under) expenditures
(202.400.00)
(202,400.00)
(25,231
D8)
177,168.92
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
202,40000
202,400.00
202,400.00
Total other financing sources and uses and special items
202,400.00
202,400
00
202,400.00
-
Net change in fund balances
-
-
177,168.92
177,168.92
Fund balances — beginning
6,581.61
6,581961
6,581.61
-
Fundbalances--ending
$ 6,581.61
$ 6,581.61
$
183750.53
$ 111,16892
1 1 i i l 1
1
It
i 1
1 1
i
1 11
1 1
1 $
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, 2008
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 9,000.00
$ 9,000.00
$ 17,262.56
$ 8,262.56
Grant revenue
2.160,000.00
2,160,001
145,803.81
(2,014,196.19)
Total revenues
2,169,1)100
2,169,000.00
163,066.37
(2,005,933.63)
EXPENDITURES
Capital outlay:
Capital Improvement Projects
2400,000.00
2,400 000.00
230,168.79
2,169,83121
Total capital outlay
2,400,000.00
2400,000.00
230,168.79
2.169831
21
p Total expenditures
2,400,000.00
2,400,000
00
230,168.79
2.169,831.21
Excess(deficlency) of revenues
over (under) expenditures
(231,000.00)
(231,00000)
(67,10242)
163,897.58
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Total other financing sources and uses and
special items
-
-
Nelchangeinfund balances
(231,000.00)
(231,000.00)
(67,102.42)
163,897.58
Fund balances—beginning
313,23003
313.230.03
313,230.03
-
Priorpedodadjustment
(39,328.90)
(39,328.90)
Fund balances --ending
$ 82,230.03
$ 82,230.03
$ 206,798.71
$ 124,568.68
1 f 1 1 1 i
I
i 1 1 1 1 1
1 1
It 1
1 1
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, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
5 - $ -
$
21,686.00
$ 21,686.00
Investment revenue
2,367.09
2,367.09
Total revenues
24,053.09
24,053.09
EXPENDITURES
Current:
Development Services
40,000.00
32,605.61
7,394.39
Total current
40,000.00
32,605.61
7,394.39
Debt service:
t^ Interest
500.00
32048
179.52
Total debt service
500.00
320.48
179.52
Total expenditures
40,500.00
32.926.09
7,573.91
Excess (deficiency) of revenues
over (under) expenditures
(40.500.00)
(8,873.00)
31,627.00
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers in
- -
9 472.91
9,472.91
Transfers out
(2,620.00)
(2,62100)
-
Total other financing sources and uses and
special items
- (2.620.00)
6,852.91
9,472.91
Net change In fund balances
- (43,120.00)
(2.01
41,099.91
Fund balances — beginning
53,643.44 53,643.44
53,643.44
-
Fundbalances -- ending
$ 53,643.44 $ 10,523.44
$
51,623.35
$ 41,099.91
1 1 1 1 1 F i i
1 ► 1 1 1
i 1 1 i
1 {
City of Cape Girardeau
Corp Flood Control Projects
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Total revenues
$ $
$
$
EXPENDITURES
Total expenditures
-
Excess(deficiency)ofTevenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
(74,529 00)
(74,528.97)
0.03
Total other financing sources and uses and special items
(74,529.00)
(74,528.97)
0.03
Net change in fund balances
- (74,529.00)
(74,528.97)
0.03
Fund balances --beginning
74,528.97 74,528.97
74,528.97
-
Fundbalances— ending
$ 74.528.97 $ (0-03)
$ -
$
0.03
{ { 1 { 1 1 1
I i
If
1 1
1
1 {
1 1
i i
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, 2008
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ 635,000.00
$ 635,000,00
$ 246,47509
$ (388,524.91)
Investment revenue
-
-
148.60
148.60
Total revenues
635,000.00
635,000.00
246.623.69
(388,376.31)
EXPENDITURES
Current:
Development Services
660,00900
660,000.00
265,982.41
394,017.59
Total current
660,000.00
660,000.00
265,982.41
394,017.59
Debt service:
Interest
1,59971
(1,599.71)
Total debt service
1599.71
(1,599.71)
Total expenditures
660,000.00
660,000.00
267,582.12
392,417.88
Excess(defidency) of revenues
over (under) expenditures
(25,000.00)
(25,000.00)
(20,958.43)
4,041.57
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
25,000.00
37,620.00
23,244.92
(14,375.08)
Total other financing sources and uses and special Items
25,000.00
37,620.00
23,244.92
(14,375.08)
Net change in fund balances
-
12,620.00
2,286.49
(10,333.51)
Fund balances — beginning
1,093.47
1,09147
1,093.47
-
Fundbalances— ending
$ 1,093.47
$ 13,713.47
$ 3,379.96
$ (10,333.51)
I 1 l 1 i i 1 1 1 1 1 1 i 1 1 1 1 1 1
City of Cape Girardeau
Sewer
Statement of Revenues. Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual
Amounts
(Ni
REVENUES
Intergovernmental
$
-
$ -
$
380,314.36
5 380,314.36
Residential charges
1,700,000
00
1,700,000
00
1,710,439
36
10,439.36
Commercial charges
1,055,000.00
1,05500000
1,090,028.42
35,026.42
Other fees and charges
46,000.00
46,000.00
4109556
1,09556
Miscellaneous
12,500.00
12,50000
12,14980
(350.20)
Investment revenue
45,400.00
45,400.00
478,364.70
432,964.70
Total revenues
2,858,900.00
2,858,90000
3,718,39220
859,49220
EXPENDITURES
Cunene
Contractual services
191,428.00
218.64900
202,403.69
16,245.11
General operating expenses
48,90000
48.329
00
39,62044
8.708.56
mental service expense
124,150.00
167,750.00
162,486.82
5,263.18
Material and supplies
379,510.00
424,114.00
422,591.50
1,522.50
Personnel services
1499,04100
1,518,441.00
1,509,582.89
8,858.11
Special projects expense
27,700.00
27,700.00
119,663,51
(91,983.51)
Total current
2,270,729.00
2,404,98300
2,456,349.05
(51,366.05)
Debt service:
Administrative charges
130,207.00
130,20700
127,839.12
236788
Interest
353,032.00
(311,444.00)
(457,74945)
146,30545
Principal
2,047.95000
3,044,683.00
3,044,68326
(026)
Total debt service
2531,189.00
2,863,446.00
2,714,772.93
146,673.07
Capital outlay:
Capital Improvement Projects
-
783,000.00
773,67541
9,324.59
Equipment
191,600.00
208.196.00
176.66220
31,533.80
Other Capital Expenditures
310,000.00
127,000.00
14,855.33
112,1"67
Total capital outlay
501,600.00
I'l 18,1 N.00
965,192.94
153,00306
Total expenditures
5303,51800
6,386,62500
6,136,314.92
250,310.08
Excess(deflnency) of revenues
over (under) expenditures
(2444,618.00)
(3,527725.00)
(2,417,922]2)
1,109,80228
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transferrin
2,198,604.00
2,198,604.00
2,198,604.00
-
Connectionfees
160,00000
160,000.00
119,940.00
(40,060.00)
Special assessments
10,500.00
10.500.00
5337526
42,875.26
Asset disposition
45,315.00
45,315.00
54,985.15
9,670.15
Total other financing sources and uses and special items
2,414,419.00
2,414,419.00
2,426,904
41
12,485.41
Net change in fund balances
(30,199.00)
(1,113,306.00)
8.98169
1,122,287.69
Fund balances — beginning
3,05529620
3055296
20
3.055,296
20
Fund balances --ending
$ 3,02509720
$ 1,941,990.20
$
3,064,277.89
$ 1,122,287.69
` I, a ` ` a It I IF $ it 1 i 1 I 1 1
City of Cape Girardeau
Water
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30. 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$
-
5
-
$ 13,893.58
S 13,893.58
Residential chargee
3,211.000.00
3,211,00000
3,291
79.855.37
Commercial charges
2,25],300.00
2,257,300.00
2,268,809.06
11,50906
Other fees and charges
198,50000
198,500.00
198278.14
(2,221.86)
Miscellaneous
15,700.00
15.70000
21,190.94
5,490.94
Investment revenue
166,400.00
166,40000
255,153.21
88753.21
Total revenues
5,84890000
5.848,900.00
6,046,180
30
197.280.30
EXPENDITURES
Commit
Contractual services
2,549,918.00
2,555,086.00
2,477,757.88
77.328.12
General operating expenses
196,770
00
198,886.00
192,960.33
3.925.67
Internal service expense
69,155.00
10,155.00
112446.05
(8,291.05)
Material and supplies
1,083,505.00
1,115,14226
1,064,25775
50,884.51
Personnel services
131913.00
131,91300
126,144.48
5,76852
Special projects expense
110,000.00
110000
00
113.334.13
(3,334.13)
Total current
4,14126100
4,213,182.26
4,080900.62
126.28164
Debt service:
Administrative charges
700.00
70000
33790
362.10
Interest
248,686.00
248,686.00
24868461
1.39
Principal
881753.00
881,753.00
88175299
0.01
Total debt service
1,131,139.00
1,131,13900
1,130,775.50
363.50
capital outlay:
Capital Improvement Projects
27500000
275,000.00
284,417.77
(9417.77)
Equipment
420,950.00
419,07874
375.819.28
43,25946
Total capital outlay
695,950.00
694.07874
66023705
33,841.69
Total expenditures
5,968,35000
6,038,400.00
5,877,913.17
160.488.83
Excess transiency) of revenues
over (under) expenditures
(119,45000)
(189,500.00)
168,267.13
357,767.13
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Traceless in
120,000.00
120,000.00
120,000
00
-
Spedalasse drigmts
3,82500
3,825.00
16,982.93
13157.93
Asset disposition
96,190.00
9819000
107,26500
11,07500
Total other financing sources and uses and special items
220015.00
220,015
00
244,247.93
24,232.93
Net change In fund balances
100,56500
30,515.00
412,51506
382,000.06
Fund balances -- beginning
4,756,880.11
4756880
11
4756.880
11
-
Prior period adjustment
127
605
77
-
Fundbalances— ending
$ 4,857
445 11
It 4787,395.11
$ 5297,00094
S 382,000.06
f 1 i f 1 f
1 i
1
1 If 1
1
1 1
If
i 1 If
City of Cape Girardeau
Solid Waste
Statement of Revenues,
Expenditures,
and Changes in Fund Balances -
Budget and Actual
For
the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ 2,200.00
S 2200.00
$ 26.295.38
$ 24,095.38
Residential charges
1995'500.00
1,995,500.00
2,021,845.61
26,345.61
Commercial charges
28,000.00
28.000.00
29,019.37
1,019.37
Transfer station charges
761,000.00
761,000.00
907.208.17
146,208.17
Other fees and charges
84,50000
84,500.00
83.062.64
(1,437.36)
Miscellaneous
38,000.00
38,000.00
52,791.89
14,791.89
Investment revenue
45,000.00
45,000.00
58,067.94
13,067.94
Total revenues
2,954,200.00
2,954,200.00
3,178,291.00
224,091.00
UPENDITURES
Current:
o Contractual services
1,016,007.00
1,162,753.00
1,141,140.76
21,612.24
General operating expenses
45,708.00
46,183.00
29,605.13
16,577.87
Internal service expense
189,053.00
189,053.00
197,209.46
(8,156.4(3)
Material and supplies
128,830.00
158.785.00
139,142.99
19,642.01
Personnel services
1,264,581.00
1 264,581.00
1 227,849.20
36.731.80
Special projects expense
88,500.00
87,424.00
82,64648
4,777.52
Total current
2,732,679.00
2.908 779,00
2,817,594.02
91.184.98
Debt service:
Administrative charges
700.00
700.00
34.77
665.23
Interest
48,028.00
48,028.00
46,305.50
1,722.50
Principal
53,314.00
53,314.00
53,313.76
0.25
Total debt service
102,042.00
102,042.00
99,654.02
2,387.98
Capital outlay:
Equipment
135.600.00
135,600.00
151,524.22
(15,92422)
Total capital outlay
135,600.00
135.600.00
151,524.22
(15,924.22)
Total expenditures
2,970,321.00
3,146,421.00
3,068,77226
77,64874
Excess (deficiency) ofrevenuee
over (under) expenditures
(16,121.00)
(192,22100)
109,51874
301739.74
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Asset disposition
4,
200.
D0
4200.00
13,53750
9,337.50
Total other financing sources and uses and
special items 4,200.00
4,200.00
13,537.50
9,337.50
Net change in fund balances
(11,921.00)
(188,021.00)
123,056.24
311,07724
Fund balancesbeginning767.186.85
767,186.85
767,186.85
-
Fundbalances--ending
$ 755,265.85
$ 579,165.85
$ 890,243.09
$ 311,077.24
1 1 f I f f 1 1 1 i 1 1 i i 1 i 1 1 1
City of Cape Girardeau
Golf Course
Statement of
Revenues, Expenditures, and Changes in Fund
Balances-
Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ -
$ -
$ 5,155.00
$ 5,155.00
User fees
426.400.00
426,400.00
375,131.39
(51,268.61)
Concession revenues
78,200.00
78,200.00
69.715.67
(8,484.33)
Equipment sales
9,000.00
9,000.00
9,276.50
276.50
Miscellaneous
-
-
600.00
600.00
Investment revenue
900.00
900.00
1,780.73
88033
Total revenues
514,500.00
514,500.00
461,659.29
(52,840.71)
EXPENDITURES
Current:
Contractual services
32,256
00
32,481.00
28,197.89
4,283.11
General operating expenses
59,950.00
59,185.00
56,888.67
2,296.33
f Internal service expense
83,369.00
83,369.00
59,196.90
24,172.10
Material and supplies
68,375.00
71,465.00
68,068.49
3,396.51
Personnel services
331 033.00
331,033.00
324,629.77
6,403.23
Special projects expense
9.700.00
9,700.00
9,019.63
680.37
Total current
584,683.00
58],233.00
546,001.35
41,231.65
Debt service:
Interest
14,240
00
14,240.00
14,56]
79
(327.79)
Principal
23,027.00
23,027.00
23,026.98
0.02
Total debt service
37,267.00
37,267.00
37,594.77
(327.77)
Total expenditures
621,950.00
624,500.00
583,596.12
40,903.88
Excess (deficiency) of revenues
over (under) expenditures
(107,45000)
(110,000.00)
(121.936.83)
(11.93683)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transferrin
107,450.00
132,45000
119,764.62
(12,685.38)
Asset disposition
-
1,963.18
1,963.18
Total other financing sources and uses and special items
107,450.00
132,450.00
121,727.80
(10,722.20)
Net change in fund balances
-
22,450.00
(209.03)
(22,659.03)
Fund balances — beginning
5.421.04
5,42104
5,421.04
-
Fundbalances—ending
$ 5421.04
$ 27,871.04
$ 5,212.01
$ (22,659.03)
1 1 f i l 1 1 1
i
i f 1
1
1 1
1 Y
1 1
City of Cape Girardeau
Softball Complex
Statement of Revenues, Expenditures,
and Changes in Fund Balances
- Budget and Actual
For
the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ -
$ -
IS 169.97
$ 169.97
User fees
68,100.00
68,100.00
67,516.50
(583.50)
Concession revenues
86,000.00
86,000.00
98,254.75
12,254.75
Equipment sales
7,500.00
7,500.00
6,705.00
(795.00)
Miscellaneous
5,500.00
5.500.00
10,211.29
4,711.29
Investment revenue
1,800.00
1,800.00
2,089.86
289.86
Total revenues
168,900.00
168,900.00
184,947.37
16,047.37
EXPENDITURES
Current:
Contractual services
20,247.00
30.647.00
37,411.43
(6,764.43)
o General operating expenses
61,100.00
61,300.00
68,313.60
(7,013.60)
Internal service expense
32,617.00
34,367.00
27,737.70
6,629.30
Material and supplies
57,707.00
61,977.00
63.140.81
(1,163.81)
Personnel services
318,124.00
323.924.00
325,962.67
(2,038.67)
Special projects expense
7,780.00
5.660.00
5,648.75
11.25
Total current
497,575.00
517,875.00
528,214.96
(10 339.96)
Debt service:
Interest
8,550.00
8.550.00
9.732.90
(1,182.90)
Total debt service
8,550.00
8,550.00
9,732.90
(1,182.90)
Total expenditures
506.125.00
526,425.00
537,947.86
(11,522.86)
Excess (deficiency) of revenues
over (under) expenditures
(337,225.00)
(357,525.00)
(353,000.49)
4,524.51
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
337,225.00
367,225.00
352,979.23
(14,245.77)
Total other financing sources and uses and special items
337,225.00
367,225.00
352,979
23
(14,245.77)
Net change in fund balances
-
9.700.00
(21.26)
(9,721.26)
Fund balancesbeginning5,021.26
5.021.26
5,02126
Fund balances —ending
$ 5,021.26
$ 14.721.26
$ 5,000.00
$ (9.72126)
1 1 1 1 i 1 1 I 1 1 1 1 It 1 1 1 1 i f
City of Cape Girardeau
Management Information Systems
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2008
Budgeted Amounts
Original Final
C
w
REVENUES
Internal charges
investment revenue
Total revenues
EXPENDITURES
Current:
Contractual services
General operating expenses
Material and supplies
Personnel services
Total current
Capital outlay:
Equipment
Total capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset Disposition
Total other financing sources and uses and special items
Net change in fund balances
Fund balances -- beginning
Fund balances -- ending
$ 367,000.00
1,594.00
368,594.00
99,756.00
4,820.00
10,500.00
120,518.00
235,594.00
133,000.00
133,000.00
368,594.00
73,008.92
$ 73,008.92
$ 367,000.00
1,59400
368,594.00
99,756.00
4,820.00
21,694.11
120,518.00
246.788.11
121,805.89
121,805.89
360,594.00
73,008.92
$ 73,008.92
Actual Amounts
$ 367,000.00
4,490.05
371,490.05
93,320.65
588.73
30,881.31
117,235.20
242,025.89
49,995.96
49,995.96
292,021.85
79,468.20
210.43
210.43
79,678.63
73.006 92
$ 152,687.55
Variance with
Final Budget -
Positive
(Negative)
2,896.05
2,896.05
6,435.35
4,231.27
(9,187.20)
3,282.80
4,762.22
71,809.93
71,809.93
76,572.15
79,468 20
210.43
210.43
79,678 63
$ 79,678.63
1 1 l 1 f
1 1 1
f I 1 1
1 1
1
1
i i
It
(7,080,75)
City of Cape Girardeau
9,75000
Fleet Management
Total debt service
Statement of Revenues,
Expenditures, and Changes in Fund Balances
- Budget and Actual
(16,830.75)
Capital outlay
For the Year Ended June 30, 2000
Equipment
16,145.00
6,701.74
Variance with
36774
Budgeted Amounts
2,500.00
Final Budget -
-
-
Total capital outlay
18,645.00
Positive
8,701
Original
Final
Actual Amounts
367.74
(Negative)
Total expenditures
1,113,83100
1,162,58100
REVENUES
1,193.19340
(30,612.40)
Excess (deficiency) of revenues
Intergovernmental
$
- $ -
$ 2,36560
$ 2,365.60
Internal charges
1,113,764.00
1,113,]64.00
1,170,713.30
56.949.30
Investment revenue
1,000.00
1,000.00
22,598.97
2159897
Total revenues
1,114,764.00
1,114,764.00
1,195677.87
Asset disposition
80.91387
EXPENDITURES
-
155290.58
155,29058
Other non-operating revenue
Current
-
10,021.76
10,021
76
Contractual services
193.38400
222,162.00
231,222.88
(9,060.88)
General operating expenses
4,850.00
5,322.00
3,25457
2,067,43
Internal service expense
2,68100
2,681.00
2,681.00
Net change in fund balances
93300
-
o Malenal and supplies
251,075.00
280.518.26
320,36827
54,321.87
(39,850.01)
82452.63
A Personnel services
643,196.00
643,196.00
610,501,93
82452.63
3269407
-
Total current
1,095,186.00
1,153,879.26
1.168.02865
(14,149.39)
62
Debt service
Interest
-
-
7,08075
(7,080,75)
Principal
9,75000
(9,750.00)
Total debt service
16,83075
(16,830.75)
Capital outlay
Equipment
16,145.00
6,701.74
8,334.00
36774
Other Capital Expenditures
2,500.00
-
-
-
Total capital outlay
18,645.00
8,701
74
8,334.00
367.74
Total expenditures
1,113,83100
1,162,58100
1,193.19340
(30,612.40)
Excess (deficiency) of revenues
over (under) expenditures
933.00
(47,817.00)
2,48447
50,301.47
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset disposition
-
-
155290.58
155,29058
Other non-operating revenue
-
-
10,021.76
10,021
76
Transfers out
(161291.94)
(161291-94)
Total other financing sources and uses and special items
4,02040
4,02040
Net change in fund balances
93300
(47,817.00)
6,504.87
54,321.87
Fund balances --beginning
82452.63
8245263
82452.63
-
Prior peri0d adjustment
106 681
62
Fund Balances -- ending
5 83.385.63
$ 3463563
5 195639.12
$ 54,32187
i Y 1 f i III
1
1 1
1 1 i
1
1 1
City of Cape Girardeau
Fringe Benefits
Statement of
Revenues, Expenditures,
and Changes in Fund
Balances-
Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Internal charges
$ 3,111,199.00
S 3,111,199.00
$ 2,838.418.62
$ (272,780.38)
Miscellaneous
-
-
731.16
731.16
Investment revenue
4,500.00
4,500.00
11,241.82
6,741.82
Total revenues
3.115,699.00
3,111
2,850,39160
(265,307.40)
EXPENDITURES
Current
Contractual services
3,115 699 00_
3,115,699.00
2,163,199.99
952,499.01
Total current
3.115 69900
3,115,699.00
2,163,199.99
952.49901
s Total expenditures
3,115,69900
3,115,699.00
2,163,199.99
952,499.01
Excess (deficiency) of revenues
over (under) expenditures
-
687,191.61
687,191.61
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Total other financing sources and uses and
special items
-
-
Net change in fund balances
-
-
687,191.61
687,191.61
Fund balances -- beginning
(530,058.77)
(530,05877)
(530,058.77)
-
Fundati,mccs— ending
$ (530,05877)
$ (530,058.77)
$ 157,132.84
$ 687,191.61
1 1 I i 1
1 1 1 1
1 f 1 Y
1 t
- 461,148.35
1 1
1 f
646,299 71 646,299.71
City of Cape Girardeau
$ 646,299.71 $ 1,107,448.06
7-461.14835
Risk Management
Statement of Revenues,
Expenditures, and Changes In Fund Balances
- Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Internal charges
$ 498,329.00
$ 498,329.00
$ 494,259.96
$ (4,069.04)
Investment revenue
56,700.00
56,700.00
63,328.39
6,628.39
Total revenues
555,029.00
555,029.00
557,588.35
2,559.35
EXPENDITURES
Current:
Contractual services
515,029.00
515,029.00
68,512.35
446,516.65
General operating expenses
35,000.00
35,000.00
27,927.65
7,072.35
Material and supplies
5,000.00
5,000.00
5,000.00
Total current
555,029.00
555,029.00
96,440.00
458,589.00
Total expenditures
555,029.00
555,029.00
96,440.00
458,589.00
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances -
Fund balances -- beginning 646,299.71
Fund balancesending$ 646.299.71
461,148.35
461,148.35
- 461,148.35
461.148.35
646,299 71 646,299.71
-
$ 646,299.71 $ 1,107,448.06
7-461.14835
1 1 i 1 i i I 1
i
1
i f
i
1 1
i 1
it it
City
of Cape Girardeau
Equipment Replacement
Statement of Revenues,
Expenditures,
and Changes in Fund Balances -
Budget and Actual
For the Year Ended June 30, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Internal charges
$ 254,908.00
$ 254,908.00
$ 253.239.72
$ (1,668.28)
Investment revenue
63.000.00
63,000.00
83,130.58
20.130.58
Total revenues
317,908.00
317,908.00
336,370.30
18,462.30
EXPENDITURES
Current'.
Material and supplies
1.600.00
800.00
800.00
Total current
1,600.00
800.00
800.00
0
J Debt service-
Administrative charges
-
50.00
22.39
27,61
Interest
-
10,200.00
10,200.00
-
Pdncipal
70,000.00
70,000.00
Total debt service
80,250.00
80,222.39
27.61
Capital outlay:
Equipment
135,610
00
186.550.00
181,028.11
5,521.89
Total capital outlay
135,610.00
186,550.00
101,028.11
5,521.89
Total expenditures
135,610,00
268,400.00
262,05050
6,349.50
Excess (decency) of revenues
over (under) expenditures
182,298.00
49,508.00
74,319.80
24,811.80
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers m
-
-
1,982.21
1,982.21
Asset disposition
20,10000
20,100.00
14,962.50
(5,13750)
Total other financing sources and uses and special items
20,100.00
20.100.00
16,944.71
(3,155.29)
Net change in fund balances
202,398.00
69,608.00
91,264.51
21,655.51
Fund balances -- beginning
1,552,066.20
1,552,066
20
1,552,066.20
Fund balances— ending
$ 1,754,464.20
$ 1,621,674.20
$ 1,643.330]1
$ 21,656.51
1 1 f i i 1 1 1
1 I 1 1 1 1 i
1 1
1 1
City of Cape Girardeau
Park Improvement Projects from Parke/Stormwater Sales Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 00, 2008
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final Actual Amounts
(Negative)
REVENUES
Total revenues
$ $ $
$
EXPENDITURES
Capital outlay:
Capital Improvement Projects
297.00
(297.00)
Total capital outlay
29700
(297.00)
Total expenditures
297.00
(29700)
Excess (deficiency) of revenues
over (under) expenditures
- -
(297.00)
(29700)
m
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
-
Net change in fund balances
- -
(297.00)
(29700)
Fund balances -- beginning
Fund balancesending$
$ $
(297.00)
$ (29T00)
0
ANNUAL FEDERAL FINANCIAL COMPLIANCE SEC,"TION
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
r 4018 Sycamore 16 So. Silver Springs Road 105 So. Hope
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703 Jackson, Missouri 63755
Telephone (618) 734-3300 Telephone (573) 334-7971 'telephone (573) 243-3991
Facsimile (618) 734-3303 Facsimile(573)334-8875 Facsimile (573) 243-3186
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE 1N ACCORDANCE WITH OMB CIRCULAR A-133
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
Compliance
We have audited the compliance of City of Cape Girardeau, Missouri, with the types of
compliance requirements described in the U.S. Office of Management and Budget (OMB)
Circular A-133 Comptiance Supplement that are applicable to each of its major federal programs
for the year ended June 30, 2008. City of Cape Girardeau, Missouri's major federal programs
are identified in the summary of auditors' results section of the accompanying Schedule of
Findings and Questioned Costs. Compliance with the requirements of laws, regulations,
contracts, and grants applicable to each of its major federal programs is the responsibility of City
of Cape Girardeau, Missouri's management. Our responsibility is to express an opinion on City
of Cape Girardeau, Missouri's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United States of America; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States; and
OMB Circular A-133, Audits oJStates, Local Governments, and Non -Profit Organizations.
Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirements
referred to above that could have a direct and material effect on a major federal program
occurred. An audit includes examining, on a test basis, evidence about City of Cape Girardeau,
Missouri's compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances. We believe that our audit provides a reasonable basis
for our opinion. Our audit docs not provide a legal determination of City of Cape Girardeau,
Missouri's compliance with those requirements.
In our opinion, City of Cape Girardeau, Missouri complied, in all material respects, with the
requirements referred to above that are applicable to each of its major federal programs for the
year ended June 30. 2008.
109
Internal Control Over Compliance
The management of City of Cape Girardeau, Missouri is responsible for establishing and
maintaining effective internal control over compliance with requirements of laws, regulations,
contracts, and grants applicable to federal programs. In planning and performing our audit, we
considered City of Cape Girardeau, Missouri's internal control over compliance with the
requirements that could have a direct and material effect on a major federal program in order to
determine our auditing procedures for the purpose of expressing our opinion on compliance but
not for the propose 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 control deficiency in an entity's internal control over compliance exists when the design or
operation of a control does not allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect noncompliance with a type of
compliance requirement of a federal program on a timely basis. A significant deficiency is a
control deficiency, or combination of control deficiencies, that adversely affects the entity's
ability to administer a federal program such that there is more than a remote likelihood that
noncompliance with a type of compliance requirement of a federal program that is more than
inconsequential will not be prevented or detected by the entity's internal control.
A material weakness is a significant deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that material noncompliance with a type of compliance
requirement of a federal program will not be prevented or detected by the entity's internal
control.
Our consideration of internal control over compliance was for the limited purpose described in
the first paragraph of this section and would not necessarily identify all deficiencies in internal
control that might be significant deficiencies or material weaknesses. We did not identify any
deficiencies in internal control over 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, HSE/Y, ROE, SEABAUGH & STRODE/R, L.L.C.
liizd S�«rQR L.G.C.
Cape Girardeau, Missouri
January 12, 2009
110
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
4018 Sycamore 16 So. Silver Springs Road 105 So. trope
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703 Jackson, Missouri 63755
Telephone (618) 734-3300 Telephone (573) 334-7971 Telephone (573) 243-3991
— Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
We have audited the financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of City of Cape
Girardeau, Missouri as of and for the year ended June 30, 2008, which collectively comprise the
City's basic financial statements and have issued our report thereon dated January 12, 2009. We
conducted our audit in accordance with auditing standards generally accepted in the United
— States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the Gnited States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the City of Cape Girardeau, Missouri's
internal control over financial reporting as a basis for designing our auditing procedures for the
purpose of expressing our opinions on the financial statements, but not for the purpose of
_ expressing an opinion on the effectiveness of the City of Cape Girardeau, Missouri's internal
control over financial reporting. Accordingly, we do not express an opinion on the effectiveness
of the City of Cape Girardeau, Missouri's intemal control over financial reporting.
A control deficiency exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A significant deficiency is a control deficiency, of combination
of control deficiencies, that adversely affects the City of Cape Girardeau, Missouri's ability to
initiate, authority, record, process, or report financial data reliably in accordance with generally
- accepted accounting principles such that there is more than a remote likelihood that a
misstatement of the City of Cape Girardeau, Missouri's financial statements that is more than
inconsequential will not be prevented or detected by the City of Cape Girardeau, Missouri's
internal control.
A material weakness is a significant deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that a material misstatement of the financial statements
will not be prevented or detected by the City of Cape Girardeau, Missouri's internal control.
Our consideration of internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and would not necessarily identify all deficiencies
in internal control that might be significant deficiencies or material weaknesses. We did not
identify any deficiencies in internal control over financial reporting that we consider to be
material weaknesses, as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether City of Cape Girardeau, Missouri's
financial statements are free of material misstatement, we performed tests of its compliance with
certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with
which could have a direct and material effect on the determination of financial statement
amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our
tests disclosed an instance of noncompliance or other matters that is required to be reported
under Governmem Auditing Standards and which is described in the accompanying schedule of
findings and questioned costs as item 08-1.
City of Cape Girardeau, Missouri's response to the finding identified in our audit is described in
the accompanying schedule of findings and questioned costs. We did not audit City of Cape
Girardeau, Missouri's response and, accordingly, we express no opinion on it.
This report is intended solely for the information and use of the Honorable Mayor, Members of
the City Council, federal awarding agencies, and pass-through entities and is not intended to be
and should not be used by anyone other than these specified parties.
BEGSSINK, HEY, ROE, SEABAUGH & STRODBR, L.L.C.
/FAQ..! her
Cape Girardeau, Missouri
January 12, 2009
112
City o Cape
Girardeau, Missouri
SCHEDULE OP EXPENDITURES
OP FFDf.RAI. AWARDS
r
For the Year
landed lane 30, 2008
�
Pcdcrl
Cf DA Program
Feel Ind Cranmdl¢Xi-11llorgh(,rntnr Pro,rra'lltle
Nurnber Aumher
Dledursen ieab
I' S. D EPA RTMEN' I Of IN FFNSE.
I nen of DOD Properly (non-cash)
12. WA
$ 100,000
G. S,DEPARTMENT OP HOIItiISG AND
GROAN DHVEI OPMJ NT.
Passed Through Missouri Depeneient of
FconoricDevelopment-
( uo]au rip Developerri, 1 dock (irvnm'
State a l'ragam and Non-Iitoderacnl
14.225 2004 -ND -di S
102,350
Grana In Ilevwti
2002 -ND -04
21 580 $ 124,036
Passed'Ihmugh Missouri UGtenntcnt of
Social ScrvicI-
Fmergency shelter Gr na Pmgmnt (PSG)
14.231 ERO 1040669
2ZN24
Passed "Ihea,h Missouri llousSRe Developrant
Coninusswa-
llo", veslnmm Pnnnu'zhips Pmgteia
10239 \1 06 -SO -29-0100 $
71,192
M-02SC 29-0100
29,149 100.541
l01AL k - DEPART MENT OP HOUSI56 AM)
UIMAN DEVELOI'YIEN"I
S 2524tH
I I. S. DEPARTMENT OF 3USTICF.
Pass9l h muga the City of Poplar Illaft, Mfsoan -
Passed through the Souduvst V,ouri Ding
'I ask Paine
Public Safety pattered, end Community
Policing Gana
16710 N A
$ 2698
Passed l'hrmigh Missouri Dgtanntent of
Public Safety
Violence Against Woolen Fommla Grant
it, 58K 2006-VAWA-0004 S
1(]96
2001 V A W A 0004
15,"101 32j03
Bullctpmof V"a l'annarhip Pmgrm
16607 NN
216
EdvvaNfSyrcMoror,d Justice Aasistance Gant
16'38 2009 -DI -RX -1432
29630
TOT AL U. S. DEPARTMPN I Or 1 LS IdK F
g 64,229
1 lic Amumpanying Notes w Schedule
of Gspeodiiares of Irederal Avvorfk
Amrot Integral
Pan of Ihie Report
13
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITL RES OF FEDERAL AWARDS
For the Year Ended lune 30, 2008
Federal
CFDA Program
Federal Grantor/Pass'fhrouah Grantor Program I tic Number Number Disbursements
U.S. DF,PARTMEN'P OF'IRANSPORTATION:
Passed Through Missouri Department of
Transportation -
HighwayPlsnningandConstruction 20205 DP-1503(002) $ 27,512
Airport Improvement Program (1)
Alcohol Open Container Requirements
AlcoholTraffic Safety and Drunk Driving
Prevention Incentive Program
State and Community Highway Safely
SCP -1500(013)
77,231
07 -SA -09-3
STP -1500(014)
25,331
43,N2
STP -1500(015)
11,735
07 -PT -02-33
STP -1500(016)
63,978 $
205.787
20.106 AIRE 055-77A
1,598
455,911
20.607 LKK031
GAC067
1,470
20601 08 -KS -03_16
1 1,086
20.600 75 -SA -09 2
$ 18.567
07 -SA -09-3
67.465
08 -SA -09-2
43,N2
08 -SA -09-3
56,769
07 -PT -02-33
3.560
08-P'1-02-24
2,413
LKK032
1,598
07 -154 -AL -32
1.805
GAC067
1,373 196.942
TOPALLIS. DEPARTMFNTOFTRANSPORTAHON $ 871,196
U.S. DEPARTMENT OF HEAL'I71 AND HUMAN SERVICES:
Passed t hrough the Comniumty Caring Counsel -
Substance Abuse and Mental I Icalth Services
Projects of Regional and National Sign ficarce 93243 SDA42070104
The Accompanying Notes to Schedule of F. pendilures of Federal Awards
Arc an Integral Part of Phis Report.
114
S 1,571
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL. AWARDS
For the Year Ended hunt, 30, 2008
Federal
'
CFDA
Program
Federal GrantorTass-'I hroueh Grantor Ptoeram'ritle
Number
Number
Disbursements
ENVIRONMENTAL PRO "I'ECTION AGENCY.
Surveys, Studies, Investigations and Special
Purpose Grants
66,606
XP987281 -0 1
S 285,891
Passed Through Missouri Department of Natural
Resources -
Capitalization Grants fn Clean Water State
Revoking funds
66.458
C295229
119,857
Capitalization Grants for Drinking Water State
'
Revolving Funds
66.468
DW291010
6,700
101 A L EN V I RO N M FN TA I. PROTEC ITO N AGENCY
5 412,448
U.S. DEPARTMENTOF I IOMELAND
SECURI"I )
Lar Entoree Tient Olhicer Rcimbursentent Prograni
Passed Through Missouri State Fmergency
Management Aeency-
Car"a Corps
Dis'as'ter Grants - Public Assistance (Presidentially
Declared Disasters) (1)
Ilomdond Security Grant
Chemical Stockpile Fmergency
Preparedness Program
'FOIAI.0 - S - DEPARTMENT OF HOMELAND
SECURITY
' TOTAL FEDI RAI.
(I) Identified major program.
97.090 INTS020811SLR050 $ 28,651
97.053 2006 GF- 16-0067 5 21096
2007 -GE -T7-0034 _. _ 142 22,1+8
97.036 4FEMA-1748-DR-MO S 298,206
411 MA -1749 -DR -MO 54,307 112,51
97.067 2006 -GE -T6-0067 274,878
97-044 EMW-2007-FF-00176 5-616
The Accompanying Notes to Schedule of Expenditures offederal Awards
Are an Integral Part of -This Report.
115
5 683.896
x.385 739
City of Cape Girardeau, Missouri
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Year Ended June 30, 2008
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Propose of Schedule and Reporline Entitv:
., The accompanying Schedule of Expenditures of Federal Awards has been prepared to
comply with OMB Circular A-133. This circular requires a Schedule of Expenditures of
Federal Awards showing total expenditures for each federal financial assistance program
as identified in the Catalog of Federal Domestic Assistance (CFDA) and identification of
programs that have not been assigned a CFDA number as "Other Federal Assistance".
The schedule includes all expenditures of federal awards administered by the City.
B. Basis of Presentation:
The Schedule is presented in accordance with OMB Circular A-133, which defines
federal financial assistance "...assistance that non-federal entities receive or administer in
the form of grants, loans, loan guarantees, property (including donated surplus property),
cooperative agreements, interest subsidies, insurance, food commodities, direct
appropriations, and other assistance, but does not include amounts received as
reimbursement fm 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.
116
City of Cape Girardeau, Missouri
SCHEDULE OF FINDINGS AND QUESTIONED
COSTS
For the Year Ended June 30, 2008
1. SUMMARY OF AUDITORS' RESULTS:
Financial Statements
Type of Auditors' report issued: Unqualified
Internal control over financial reporting:
• Material weaknesses identified? yes
X no
• Significant deficiencies identified that are not
considered to be material weaknesses? yes
X none reported
Noncompliance material to financial statements
noted? X yes
no
Federal Awards
Internal control over major programs:
• Material weaknesses identified? yes
X no
• Significant deficiencies identified that are not
considered to be material weaknesses? yes
X none reported
Type of Auditors' report issued on compliance for major programs:
Unqualified
Any audit findings disclosed that are required to be
reported in accordance with Section 510(a) of Circular
A-133? yes
X _ no
Identification of major programs.
CFDA Number Name of Federal Program
20.106 Airport Improvement Program
97.036 Disaster Grants - Public Assistance (Presidentially Declared
Disasters)
Dollar threshold used to distinguish
between type A and type B programs: $300,000
Auditee qualified as low-risk auditee: X yes
no
117
2. FINANCIAL STATEMENT FINDINGS:
08-1 Actual fund expenditures exceeded budgetary limits.
Criteria: According to Section 67.080, RSMo, no expenditure of
public moneys shall be made unless it is authorized in the
budget.
Condition: Actual expenditures of the Airport, Motor Fuel, Softball
Complex, and Fleet Management Funds exceeded their
approved budgets by $125,798, $4,532, $1[,523, and
$191,904, respectively..
Questioned Costs: None.
Context: Actual expenditures of the Airport, Motor Fuel, Softball
Complex, and Fleet Management Funds totaled $2,972,486,
$43,932, $537,948, and $1,193,193, respectively.
Effect: The City is not in compliance with state budgetary law.
Cause: Management oversight.
Recommendation: We recommend that the City Council refrain from
authorizing expenditures that exceed budgetary limits. If
additional expenditures are necessary, the budget should be
amended in accordance with the provision of Chapter 67 of
the Revised Missouri Statuses.
Management's Response: Management routinely seeks additional appropriations for items
not included in the original adopted budget and never intentionally
expends funds that have not been appropriated. Costs of resale
merchandise, allowances for bad debts, internal charges, and
.. transfers to other City funds account for the majority of the over -
budget items. Management feels these items do not represent an
expenditure of City funds. They were covered by additional
revenue, reversed revenue previously recorded, or resulted in a
revenue to another City fund. The most significant expenditure that
was an expenditure of public funds was $89,139 on a capital
project completed this year that was budgeted but not spent in a
previous year. Since that appropriation expired at the end of that
year it should have been appropriated again this year.
3. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS:
No findings or questioned costs were noted that are required to be reported.
Its
City of Cape Girardeau, Missouri
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
For the Year Ended June 30, 2008
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
07-1 The City did not have internal controls in place to meet procurement, suspension,
and debarment requirements.
Status: implemented.
07-2 The City did not have internal controls in place to meet the Davis-Bacon Act
requirements.
Status: hmplemented.
119