HomeMy WebLinkAbout2006-2007.AuditReportCITY OF CAPE GIRARDEAU, MISSOURI
Cape Girardeau, Missouri
For nw Year Ended June 30, 2007
ANNUAL FINANCIAL RFPORI
BEUSSINK, HEY, ROE,
SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
CITY OE CAPE GIRARDEAU, MISSOURI
TABLE OF CONTENTS
FINANCIAL SECTION
Pa,,c No.
'
INDFPENDENI AEDI'IORS' REPORT
I
RFQUIRFD SUPPLFMENTARY INFORMATION
MANAGEMENT'S DISCUSSION AND ANALYSIS
3-16
BASIC FINANCIAL STATEMENTS
GOVFRNMFN'T-%k DF. FINANCIAL STATEMENTS
STATEMEN"FOFNE'I ASSET'S
17-18
STATFMFNT OF ACTIVITIES
19-20
FUND FINANCIAL STA'PEMENTS
60A FRNMF.NTAI. FUNDS FINANCIAL STATEMENTS
BALANCE SHEET
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL
FUNDS PO THE STATEMENT OF NET ASSETS
23
STATEMENT OF REVENUES, EXPEN'DI I I RES. AND CIIANGES
IN FUND BALANCES
14
RECONCILIATION OF THE S FAT EMENT OF REVENLES, EXPENDI TURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE SFAI'EMEN'I OF ACTIVITIES
3i
PROPRIFTORY FUNDS FINANCIAL STATFMBN"FS
SFAI I-NIHNI OF NET ASSETS
26-27
STATEMENT OF REVENUES. EXPENSES. AAD CHANGLS IN
FI IND NET ASSE"IS
28
SI.A"I'EMEN'I OF CASH FI.OANS
29-30
FIDUCIARY PONDS Fl\ANC'.IAL SPA "I F_MFN FS
S IAl FMFNT OF NET ASSETS
31
NOTES TO BASIC FINANCIAL STATFMFN I S
32-68
REQUIRED SUPPLEMEN"FAL INFORMATION
STA DEMENT OF REVENUES, EXPENDITURES, AND
CHANGES 1N FUND BALANCES - BUDGET AND
ACTUAL- GENERAL
09
SI ATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN LUNO BALANCES-BL'DGETAND
_
ACTUAL -AIRPORT
70
STATEMEN" T OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - PARK & RECREATION
71
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGETAND
,.
ACI UAL -'TRANSPORTAIION SAFEST AX
TRUST FUND II
72
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - TRANSPORTATION SALES 'TAX'[ RUST FUND lll
73
NOTES TO BUDGETARY COMPARISON SCIIEDULES
74-77
SCHEDULE OF FUNDING PROGRESS
78
SUPPLEMENTAL INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES- BUDGE'l AND
ACTUAL- FLOODPROTECTION
79
STATEMENI OF REVENUES, EXPENDITURES, .AND
'
CHANGES IN FUND BAI.ANCES BGDGEIAND
ACTUAL VISION3000
90
STATEMFNT OP REVENUES EXI'EINDIIURES. .NINE)
CHANGES IN FUND BALANCES BODGET AND
ACTUAL - CONVENTION AND TOURISM
8I
STATEMENT OF REVENUES, EXPENDITURES. .AND
CHANGES IN FUND BALANCES- BUDGE"T AND
.ACTUAL DO%k N'FOWN EUSINFSS UISIIZIC'T
ffi
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET .AND
ACTUAL HEALTH 83
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGE'l.AND
ACTUAL - MOTOR FUEL TAX 84
S'lAI'EMEN'T OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES- BUDGET AND
ACTUAL CAPITAL IMPROVEMENTSALES TAX
FLOOD CONTROL 85
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGE'l AND
AC"ILIAL - CAPITAL IMPROVEMENT SALES TAX -
WATER SYSTEM IMPROVEMENTS 86
,. STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUALTRANSPORTATIONSALES TAX
'IRUS'P FUND 87
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL-CAPIT.ALIMPROVEMFNT SALES TAX
SEWER SYSTEM IMPROVEMENTS 88
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FEND BALANCE- BUDGET AND
ACTUAL- FIRE SALES TAX FUND 89
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE -RUDGELAND
ACTUAL- PUBLIC SAFETY TRUST FUND 90
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL- DEBT SERVICF 91
S'l A I EMEN I OF REVENUES, EXPP.NDTTUP ES AND
_ CHANGES INF'UND BAI.ANCES BUDGET AND
ACTUAL- GENERAL CAPITAL IMPROV'EMEN'TS 93
_ STATEMENT OF RF.VENL'ES, EXPENDI"TURES, AND
U
CHANGES IN FUND BALANCES - BDGE"I' AND
ACTUAL STREET IMPROVEMENT'S 93
STATEMENT OF REVENUES, EXPENDI"TURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL- PARK IMPROVEMENT S
94
STATEMENT OF REVENUES. EXPENDITURES, ASD
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL FAU GRANT PROJECTS
95
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES N FUND BALANCES BUDGET AND
ACTUAL -COMMUNITY DEVELOPMENT BLOCK
GRANT PROJECTS
96
STATEMENT OF REVENUES, EXPENDITCRES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL- CORP FLOOD CONTROL PROJECTS
97
S"I'ATEMENT OF REVENUES, EXPEND] I'URES, AND
..
CHANGF_S INFUND BALANCES BUDGET AND
ACTUAL HOUSING DEVELOPMENT GRANTS
98
STATEMENTOF REVENUES, EXPENDITURES_ AND
CHANGES IN FUND R.AI,ANCF.S-BUDGETAND
ACTUAL -SEWER
99
STATEMENT OF REVENUES, EXPENDI'FUIZES, AND
CHANGES IN FUND BALANCES- BUDGET AND
ACTUAL- WATER
100
STATEMENT OF REVENUES. EXPEND I URITS, .AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL SOLID WAS FE
101
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACFUAL - GOLF COURSE
IO2
STATEMENT OF REVENUES. EXPENDITURES, .AND
CHANGES IN FUND BALANCES BUDGET AND
_
A( I CAL- SOI'IBALL COMPLEX
103
STATEMENT OF REVENUES, EXPENDITURFS. .AND
_
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL- MANAGEMENT INFORMATION SYSTEMS
104
SI'A I EMEN I OF REVFNUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGE I AND
ACIU.AL- FLEET .MANAGEMENT
105
STA'I EMENT OP REVENUES, EXPENDI'IURLS. AND
CHANGES IN FUND BALANCES— BUDGE"I AND
ACTUAL—FRINGE BENEFIIS 106
S'IA I LMFN I OF REVEMIES, EXPENDITURES, AND
CHANGES LV FEND BALANCES BUDGETAND
ACTUAL — RISK MANAGEMENT 107
S-IA'I EML'NT OF REVENUES, EXPENDITLRFS, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL EQUIPMEN"IREPI.ACEMENIIOS
ANNUAL FF FERAL FINANCIA L COMPLIANCE SECTION
REPORT ON COMPLIANCE \A'II H REQUIREMENTS APPLICABLI:
TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE W TTI -I OMB CIRCULAR A-173 109-110
REPORT ON INTERNAL CONTROL OVER FINANCIAL RET'ORTIN'G
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STA IFMENIS PERFORMED IN ACCORDANCE
WI I H GO PERNbf@NT .1 t,,DITING STAND.1 ROS 11 1-1 12
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 111-116
NOTES FO SCI-iEDULE OF EXPENDITURES OF FEDERAL AWARDS 117
SCI I F,DULE OF FINDINGS AND QIJES HONED COSTS I I S-120
SLMMARY SCHEDULE OF PRIOR AUDIT FINDINGS 121
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
INDEPENDENT AUDITORS'REPORT
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
We have audited the accompanying financial statements of the governmental activities, the
business -type activities, each major fluid, and the aggregate remaining fund information of the
City of Cape Girardeau, Missouri (the City), as of and for the year ended June 30, 2007, 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 Slates. 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, cath
major fund, and the nggregatc remaining fund information of the City of Cape Girardeau,
Missouri as of June 30, 2007, and the respective changes in financial position, and, where
applicable, cash flows thereof for the year then ended in conformity with accounting principles
generally accepted in the United States ofAmerica.
In accordance with Govooment Auditing Siundards, we have also issued our report dated
January 28, 2005, on our consideration of the City's internal control over financial reporting and
Oil our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The pwpose of that report is to describe the scope of ole testing
of internal control over financial reporting and compliance and the results of that testing, and not
_ to provide an opinion on [lie internal control over financial reporting or on compliance. 'that
report is an integral part of an audit performed in accordance with Governwent Auditing
Standard, and should be considered in assessing the results of our audit.
_l
The management's discussion and analysis and budgetary comparison information on pages 3
through IG and 69 through 77 are not a raluired part of the basic financial statements but are
supplementary information required by accounting principles generally accepted in the fluted
_ States of America We halve applied certain limited procedures, which consistal principally of
inquiries of management regarding the methods of measurement and presentation of the required
supplementary information. iloweven we did not audit the information and express no opinion
on it.
Our audit was conducted for the purpose of fmining opinimts on the Financial statements that
collectively comprise the City of Cape Glrardeau'S basic financial statements. The combininl-
and individual nonmajor Jlutd financial statements are presented for purposes of additional
anal.sis and are not a required par of the basic financial statements. The accompanying
Schedule of Expenditures of Fcderal Awards is presented for purposes of additional analysis as
required by U.S. Office of Management and Budget Circular A-133, Audits of Shies, Local
Gorernuwcnts, awl Noir-Profit Ot;,am-alzons, and is also not a required part of the basic financial
statements of the City of Cupe Gitardeau, Missouri. The combining and individual nonnmjor
Fund financial statements and the schedule of expendiWres of federal awards have been subjected
to tlrc auditing procedures applied in the audit of the basic financial statements and, in our
.. opinion, arc fairly stated in all material respects in relation to the basic financial statements taken
as a whole.
BFI ISSINK, HEY, 1208, SEABAUGH S S IRODER, L.L.C.
9Aa"j ' � . R&. ��' As a
Cape Girardeau, Missouri
January 28. 2008
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF CAPE GIRARDEAU. MISSOURI
Management's Discussion and Analysis
'Ihc discission and analysis of Ihc ('ill of Cape
Girardcads financial perfotmanre pro"rics an
overall tcviciw oI Ihc City s Financial activities
for the fiscal year ended fine 3o, 200T 'Ihc
intent of this discussion and analysis is to look at
the City, financial pertirzmance as a whole.
Readers should also re,r, Ihc basic financial
statement, and slated notes to those statements
to enhance their understanding of the ( it)'s
financial peifismi lice.
Financial Highlights
o "I'Ile assets of rte City of Cape Girardeau
exceeded its ImInlitc, at the chis, of the most
r-ccnt fiscal year by $208,188,40331 pact
asecb). Of this amount, 834,15705961
(unreso need net assets) may be used to meet
:. the City's ongoing obligations to citizens and
creditors.
o As of the dose of the cto'ent fiscal year, the
City of Cape Gimrdcud, govcrn,,ri al funds
reported combined ending fund balances of
PS,S5Q925 94_ Approsimnlely 70.9 percent
of this total anwtnd, S20,64-,292,09 is
uvadahle for spending at Ihc gnwemment
discretion (unreserved fund balance).
At Ihc end of Ihc currant Fiscal year.
unreserved find balance for the general fund
was' S6174SI.37 of 2.8 percent of total
general fund expenditures and trensters.
Ford balance reserved for emergencies for
Ihc general fund was 5351 G,052A0 or 6.7
per¢nt of Ion1 ecncral ford expatdinres and
transfers_
Fixed asset, reteced on this year's
Statement nl Ket Assets were 381,194.189 95
(x3,6",,) more than the precious year A
portion of this change resulted from the
completion of the implementation of GA.Y13
tit its I result fixed assets were inueased hw
C7A 02(,295.5?. the July I. '006 depreciated
'circ of City infnstmenre purchased or
completed prior to July I, 3002- Do, the
year the City removed the depreciated waluc
of assets purchased in previous fiscal years
that did not meet its current tit 000
capitalization threshold_ This also was a
portion of the above change and oes filled in a
51.18333602 reduction in fixed asset,.
During, this year net fixed assets totaling
$13.698 19430 were added and depreciation
totaling 59,347 36434 max recognized.
o "Ilie City of Cape 6itardeau's total long -tent
debt decreased by $5,108,042.64 (6.9
percent) during the current fiscal year as a
result of the Cily making its scheduled
payments and not issuing any ncsv debt.
Ovcrvlew of the I7inuncinI statcmanls
'Ibis discussion and analysis are intended to
serve as an introduction to the City of Cape
Girardeau', basic Financial stanrtnents.
'Ihe City of ( apc Cor at basic financial
snatemems arc comprised of time components.
1) gmenIDlenl-wide fmancial statements, 2) land
financial sntcmcnts, and }) notes to the financial
statements. 'Ibis report also contains other
supplementary information in addition to Ilse
basic financial statements themselves.
Government -hide financial statements.
'fhc ,rIocmment-wide financial statements lire
designed to protide reader with a broad
coce, e, of the City of Capc Girardeau's
finances, in a manner similar to a prnate-sector
business.
'fhc stncmcnt of net assets presrnt, infomiatian
on all the City% assets and Intel [ites, with the
difference between the two reported as net
..sets_ Ower time, inorcuse, or decreases in net
assets may serve as a itself] indicator of whether
the financial position of the City is inrp ovnor or
deal ...... t ink
The stetcmcnl of activities prescnls information
showing no, the City's net assets changed
during the most m'ecnt fiscal year. All changes
in the net assets arc reported as soon as the
underlying event swing rise to the change
occurs, regardless of Ibc liming of Ibc island
rush toes. Thou. ¢emacs, and c,pcn,¢s arc
leportcd it, the statcmanl lot sonic items that will
only result in cash pO%iS in finite fiscal periods'
(e.g., oncollectcd lass, and canmd bun unused
cacaton Icuve)
Rosh of Ihc govemmenl-wide financial
statements distinguish filnetJOIIV of Ihc Cily of
CITY OF CAPE GIRARDEAU, MISSOURI
Cape Girardeau Thal arc In nirf lly supporta,] by
taxes and nineties, crinrionital revenues
(g(,vcrnnenml cam itics) from other Jolocuous
Ileal arc intended to recover all or a .Lnilicant
porion of Ih,,, costs through loci fees and
charges (business-tvpc activities). The
nncemmental adn'ities of the Ciic of Cape
Girardeau indude administrative services,
developrimnal services, pm'ks and recreation,
public safety, and public works. 'Ilie business
type acmilies of the City include ecwcr, water,
It'(] solid ,Irstc Militia and golf cons, and
sofihall complcs operations. The govcmmcnl-
wide financial statements can be found on paycs
17 to 20 oftInn report
Fmid 17nanelal statements. A find is a
grouping of telaled accounts that is used to
nwinnin control over reeources that have bccn
segregad to, specific activities or objectives.
'Ihc City of Cape Girardeau, like other stat, and
local governments, uses find accounting to
ensure and demonstrate compliance rci th
bounce-nfated legal requirements. All of the
fund' of the Cocan be divided into it,,,,
cacyones lovcmmcatal lauds, popt iclaiy
funds, nnrl fiducianfunds.
Govcmmcand Funds_ Goceinmcntal funds arc
used to account for essentially the sane
li nc(ians repotted as goacmmental activities in
the govcrnmenLwide financial statcmcnls.
However unlike Ihc eorvrnment-wide financial
statcmaa, govcmmcutal find financial
statements focus on near-term iallmvs and
oulllows of spendable resources, as well as on
balances of spendable resources nailablc M the
end of the fiscal year. Such information nay be
usddul in evaluating a go"'i n..nc, near -hems
financing reyuimnenls.
Because Ihc focus of the guvemnmMul lands is
nano,,, than that of in, gocrn in"IC idc
financial statements, it is usefit to compare the
information ptcscutcd for eo�emmental hinds
, lith similar information pr esemcd for
governmcntul act,,,t,,s in the government -wide
financial stntcnrents. Bp doing so, road,i, may
hotter andersmnd Ihc Ion, tern" impact of the
gormhmcnl's near talo, livaueing dcc"a.11s.
Both Ihc governmu"tal fund balance 'heal and
the govcnm"unal fond statcncnt of ,,vanes,
cspcnditures, and lranges in land balances
Inor9dc a reconciliation to lag ilitstc this
contputi on 61111111 uorcnuncetal fails and
euve: nnlcnlal ajo iacs.
The City of Cape Girardeau maintains 1f
Indh'idual tcoacrnmc11tal Grads. Information is
presented separately in the govemmcnlal fund
balance sheet and in the govcnmental fund
statcmrnl of revenues, as pcnditures, and changes
in fund balances for t"c general, airport, parks
and "'a cation, Ir a asportation trust II, and
vansporlation trust IB, 119116 afc collsl,]Cled, or
have been designated, to he major funds of the
City. Data horn the olhcr govcmmcntal funds
are combined into a single, ayregmed
presenlation
The Cly if Cape Girardeau adopts annual
appnprialod hudgcts for all its govcnunc it
fundi, excluding its,'atcr Sy am improvcnnen(s
capital project land, which has a project length
budget, Burlg,mrp comparison statements have
been provided tot all major goicinincinal finds
as part of the financial statements to demonstrate
compliance with this budget Budgetary
compansou statements for the remaining
govet'nmenfal funds are present as supplemental
Mformafion.
'Ihc basic governmental fund financial
s(alements can he found on pages 11 to 1S of this
report
Props etary finds= tela Cil, of Cap, C; rardcau
maintains two types of propriefaiv funds.
Enterprise hinds are used to report the same
functions presented as business -type actvities in
the glvcrnmcnl-,vide financial statements. Ilse
Cty used entelplise finds in account for its
sewer, o'mat, and solid wa-arc uGlitI,s and its gull
couae and safihall complcs operations. Internal
service funds are in accounting device used to
accuriadate and allocate .,is iit,rnally mnong
the CFI -s carious timetions_ Thr (fly uses
intcmal'mice funds to account for operation of
its management finis nnatipn systems, fleet
management, self-insured euploycc benefits and
workmen's ,mnpnl'ation prou'ants, and its
internal eyuipmcnt legging proeru m.
Proprietary funds provide the same type of
information as the aocernment-wide finan,iil
statcntcns, only in more detail The proprienrr
fund financial stntancnts jno'idc separate
infoinw(ion for the sewer. rester, and solid ouste
utilities and golf course and spitball complex
operalions. All of these ate considered, or have
bccn des'tgnat,d, to be ntalor fands of (lie Cay.
-fhc mesial service funds arc eumbined into a
singke, aegregatcd prescnation in the propriclan
fund Gnaucial slawn""ts.
CITY OI' CAPD GIRARDEAU. MISSOURI
The basic pioprietap hand financial statements
can be found oft pages 26 to 30 of this rcparl_
Budgcivrt comparison 4mcri for all Its,
ictary
Por finds are present as suppel... ral
tnfunnatton.
Sates m the Financial Statnnents_ The notes
provide addmonal information that is essential to
a full undcrstanding of the data provided in the
goveneucnt-wide and find financial statements_
The roles to the financial s(a(ern,re can be
torrid heginning on page 32 of this report
Government -bide Financial Analysis
As note(] earlier net assets may scnc over lint,
as a useful indicator of a eovelinleuCs financial
position. In Ilia case of the City of Cap,
Cimnlcau, ussc(, ascended haUnu,s hp
S205,188A05, an increase of 582 400,443
(625""1. 'the larged portion of the City's net
assets (79.4".9) 1effects its S105,19H498
iinestment in capital assets (laud. builditres,
machinery, and cquipnrcnt), less related debt
used 10 aequtre those assets that arc still
0utsjand inn This lie( invcstoreal iva'cased
JS4 A49.479 ( 104 V,O during the Nnait fiscal
veer The City uses these capital assc]s to
proctde services to atizens consequently_ (hese
assets arc not acatlablc for future spending.
Ntltouyh the Cilv's invcslntnnl in its capital
assets is rcponcd net oRulated debt, it should he
noted that the resources needed to ropey this debt
must be pnn'idcd from other sonless, since the
capital assets themselves cannot be used to
liquidate ih5se liabilities.
An additional portion oftire Cms net assets (4,2
percent) represent resources That arc suhjecl to
external restrictions on hour they may be used_
The portion of the Crt)' e (tel assets subject to
external restrictions tonsured $96S76 (1.140)
from the previous year. "I9tc renmining balance
of unrestricted net ass'.is (S34.153.060) may he
used in meet the City's argon, oblieations to
citizens and creditors. 'this reflects a $2.141,1)12
(59"-0) decrease floor the previous year.
At the end of the current fiscal year, the City is
able to rpuil positive halances in ell (lucc
catenaries of net assets. both for the government
as a whole, as all as for its separate
savernmental and businesstypeecltvtlics. Phe
same situation was true ofllie prtoryear_
City of Cape Girardeau's Net Assets
5
Governmental
Business -type
Activity
Total
,-
_
_Activities
2007
2006
2007
2006
2007
2006
Current and other assets
36,690,562
4((769,747
14.450,319
14,665.672
51,140,881
55,455.19
Capital assets
138107,396
66,511,983
94.449.755
95,850.979
232557]51
__151,362.962
Total rise is
174 797 958
96,301
730
108.900,ass
110,516,651
283698,032
206,818
381
'ong.onnl ii, rrsoumanit's
29538,450
31.563.069
33,569,714
36,411,763
53,108,164
57,974
832
Other liabilities
6,872,457
7.302019
5,520,006
5,753568
12,401,463
13
055,587_
_
Total hairier
36_,4.10_,907
38.865.088
39,098720
42,165.331
75,509527
81
030419
Net acrid,
Invested In capital assets,
Net of related d05t
107,130.950
24,29$202
58,067,548
56,449,817
165,190,498
80749,019
Rasincted
4968.283
5,009,893
3,868,564
3,730 078
8.836,847
873&971
UnreStrided
26287,818
28.127,547
7.865,242
8.171425
34,153,060
36.298972
Term norasses
138,387,051
57436.642
—
69801554
68.351,32D
208,168405
125787.962
i
5
CITY OF CAPE GIRARDEAU, MISSOURI
Governnwntal activities- (in, Immoral activities iucrea9ed the City off ape Gimrdcau's net assets by
$3o637,263, (compared w $6,092,648 in the previous Os,al your thereby aceountin_ for 64.7 percent of the
total growth in the net assets of the CiR. Increases in net investments in capital assets during the fiscal your
,acceded the total increase in net assets during the year be 51,881,339 or 23%,.
City of Cape Girardeau's Change in Net Assets
Governmental Businsss-type
activities activities Total
2007 2006 2007 2006 2007 2006
Revenues:
6,438
188
387,777
Program revenue:
387072
1948,670
Cnzrges for service
4,667,316
1362,389
4.313791
1,399,831
Operating grants and
3,374,755
3,235303
contributions
1,000,949
11,326.365
1,233,096
5,584,858
Capital grants and
3000,595
5,866
096
contributions
1,730928
5805,276
4,466,156
5,713,165
General revenues.
3,020.602
2693.585
Prepert taxes
1,772,069
642996
1,641206
_ 484,485
sales taxes
19,343,694
18,814,112
Othortaxes
7,709,212
7,505,420
Other
1 864
013
1,3298
6
Total revenues
38,088,181
39,303,627
Expenses.
Administralive
6.981,867
6,438.188
Capital l mprovemend
387,777
387,072
Development Services
1948,670
2206
380
Interest and other costs
1,362,389
1,399,831
Parks and Recreation
3,374,755
3,235.303
Public Safety
11,279,541
11,328,365
Public Works
5,584858
3,000,595
Sewer
-
-
fValer
Solid waste
-
Rich Course
-
-
Softball Co nplex
_
-
-
Tomlex4ers'es
30919957
27995734
Increase In net assets
before transfers
7.168,224
11 307
893
Transfers
(3 530 961)
t3 2152451
Ins reasc.n net assets
3637263
8_092,64@
Net assets -beginning of year
57,436,642
49,332222
Prior period adjustments
7_731 3,146
11
772
N. asset, ,d of year
:38,387,051
57,436,642
6
12,022492 11,678,680
1,525,845 4456,421
692 078 _ _ 491,585
14240,415 16,626,686
5,866,696 4,912,904
5,805,276 5,713,165
3,020 CO2 2,693,585
614,910 642,996
484 486 486 597
15 790.769 14441,247
(1, died 354) 2,186,439
3 530,961 3 215 245
1 980 607 5 398 684
68,351.320 62,952.636
(530 5731
59,801.354 68 351 320
16.689, 808 15, 992.471
1,000,949 1,233,096
3,256,773 8.922.577
1,772,069 1.641,206
19843,594 18,814,112
7,709212 7,505,420
2 556 091 1.821 431
52,328596 55,930 313
6,981,867
6,438
188
387,777
387072
1948,670
2,206380
1362,389
1,399,831
3,374,755
3,235303
11,279.641
11,326.365
5,584,858
3000,595
5,866
096
4,912,904
5805,276
5,713,165
3,020.602
2693.585
614,910
642996
_ 484,485
4KI597
16710172
42 43898
5,617,870 13491332
5,617,870 1491 332
125,787 962 112.284. Set
76782573 11]72
208,168.405 125767,9,2
0
CITY OF CAPE GIRARDEAU, MISSOURI
Act, I), in the following r,,cnnc and expense ifcros should be noted for the cIII 'c[it fossil I rear_
Revenues from governmental activifies
• Charges for set 'ice increased S153?25 (52'161 over the prevtons scar_ Significant increases from
the precious year were'. (I) aviation fuel sales at the airport were up $801257 (75`5„). (2) Airport
fund rentals were up S35,050 (20.690) (3) General fund renals were up 5179,813 (3024.2T;,) (4)
internal clougus assessed to various City eonstuction project, were up $106,309 (14594). Prices
of the fuel sold at the ainput I ,rete ilie rcascd to reflect higher costs and an increased pi 0111 nmrgal.
In January 2007 the Cit, began leasing its manufacfunng facility located on the airport premises
that had been vacant during t11c previous year and rcccival $ii,000 oflca,c roscnuc during the
current year. During the noting
fiscal year the CBs hegan leasing its nese public works
headyuancrs to various divisions of the enterprise and internal service funds at an annual amount
totaling 5181,500. Significant revenue not received this year seas Ss0,910 rcccived floor the CuN
of Cannhers,ble for use of Cit} personnel for mnmdo clean-up and S91,121 in taxi coupon
revenue for the Cily's last program that seas taken over by the Cape Countv Transit Allharity
duri11g the consul year.
• Operating grunts and contribution, were S2P1147 (18 5%) Icss than the previous scan Gmnly and
contributions used for the police and the fire dell Paterams totaled S176,439 (26.8%) Icss
than the precious year. Grant revenues coed for ncidhborhood redevelopment and subsidising the
cost of an additional commercial round trip to St Louis incrcascd Ss2,245 (48.6%1 and $39,39(1
(303`0) respectively doting the year. At the beginning of this yen, the Cape County I costt
Aulhorip fool over the Cn,'s public transportation progroun. In the precious year the City
rcccived S146,870 in grant revenue to support Ibis plogrant.
• Capital grams and conn'ibu6ons decrcused 52,735.225 (61.296) over the previous year. In the
current year S693,S57 of ,ionated assets and infrastructure were recorded_ This was 52.79,742
less than the previous year. Benefiting property o eers were charged $121,734 for a
portion of this year's infrastructure ccros.'phll was S1s? 307 (55.6°%) less than the previous year.
'I le remaining unnt and contribution revenue was S91 ,337 which was 5211,821 (30.11%) more
than the precious year.
• Property tax revenue was 5130,863 (74',) more than the previous year_ Assessed vain, of real
,stale increased SG,470.063 (43",d alestine preciuus year. Nes, construction accounted for
r
S4,111.510 (27.9",)) of this inn ase Assessed value of personal property n r aced $9,342,494
neer the previous year.
• Sales (a, revenue wa, s0 5`56 0l the total revenue during lin a ,mil year vs. 77.941, io the precious
yrar. 'Ills Isar', revenue ,,, 5529552 (3.54;,) mare than the precious Near. Front fiscal year
ending June 30, 2004 dhrougl fiscal scar ending June 30, 2006 sale tax revenue bud annual gtn'th
rats of i_5"-;, I L and 4.145, espcctiselp_ Darin., the first ec,kend to A11c,11at customers ern
purchase limited solicits ofschool supplies, clothing, and nnnpumrs 111110111 being charsed sales
lac It is eIlinwmd Ihal the holiday owy reduce annual mecnuc h, It, much as 'S4n_
CITY OF CAPE GIRARDEAU, MISSOURI
ReIenues Cram governmental activities (continued)
• Other taxes inc¢ascd S203,791_ (2.7") Over the previous vet', linrvcntiot and lounsm taxa,
business license lases, and molo, fail lases grew .$121,1101 A_ 3'%,), S38.042 [3.6'Sd). and $71,156
(4.9"6,) respectively. French... lases and other cit), tares decreased 511.014 (0.3'10 and SI s_922
in MI,)- The increase in the convention and lotnsni nixes leas eompnsed of an S88,380 (9A%)
itn'euse in restaurant lases and a S33,1s0 (6.3".a) incrcow in hotel / motel lases. 34.0`!x, of this
year's total franchise tax revenue cans front electric and natual gas utilities. Franchise taxes
received un natural gas d,cmased SSS,6ss (s.9",f because of Imvcr natural gas prices Ihis year,
wllc franchise tax rcecivccl on ciccuicily increased $2544S (1.4'%) because of higher rammer
usage that was partially offsel by laws"inter usage.
Olhar revenue increased $534.167 (4021'„) Over dte previous year. Almost all of this increase
I sulted Ifom im•estmeat earnings Is [rich increased S202,01s (4060). 'Ile end ofycar market
I lue adjustment to investments increased investment earnings by $164,551 in the current year. In
the pmvious year it reduced cawing,, by 5120,601. Excluding the end of year market value
adjustments, investment revenues ,n'ew $216,$63 (16.0°L,) donna the current yearhigh,,
acctmolalcd cash balances_ and rc in vcslmcnl of maturing investments at higher rites are the main
contributors to this increase. Dunng the year weighted average yields on the City certificate of
deposit and liquidity inl'estmmin portfolios increased 40",o and .Slo to 5.04 o and s.OLo
respectively.
.� Expenses from government al activities
• Administrative expenses increased Ss43 679 this year. 'Che cily s payment to the Soudsast
mi&roan Slate 11o'cunty Iclucd to (Ile "River Campus Prolect•• increased 5100,453 (10.0`65) this
year "fhc •`River Campus Project' is a joint (It)s'4nivcrsaN project in which the City agrccd to
payoff $8.9 million in bonds issued to help fund the construction of a campus, performance center,
and museum on property that oversees the 1lississippi River. 'Ile campus began operating in the
fall of 2007 The local cost exceeded S60 million. Current revenues collected front the hotel.
moat. and restaarunl taxes not used for the operation Of the Couvcnnau Visitor Burlin are
Committed to pavofl the bond issue. l)nspent hotel, niond, and restaurant tase.a collected bclbre
November 2004 are used ro fund vaiwas tourism «hated prolvcls. Doling Inc current Icer the City
i ,plot 5175;244 un such projects, an increase Of $13,505 (41.9%)) over the prcvinus year
Doting the previous Scar the Cfty began subsidizing an additional St Louis round trip by its
commercial canner this subsidy ended during the current year. However the City spent 50,687
(313`55) more on the s'ubs'idy this year.
The City charges con sit ¢t ion pmj,cts for use of its crop l nvccs'_ "Ile cosh.' of Ihese employees am
I onlal as admurstral i ce ospunscs and I 0\ curer leeched front the capital piolens are reflected
as ad no Inst ra t i se sat ice charges. Inuring Ih, Curren( year these costs wcrc $617,682 which Ivas
5104,315 (2 0, mor, than th, prcvinus Scar.
Depr,craroa espens, Ivas $104? IS (2S 9Yh) mor, than the previous )'ear.
• ( Tnt1I improve l its increased $,OS (.2",1 this year This represents sleet and other capital
pleleets that did not meet the City's $6.000 capitalization threshold (the amount at which the
c J"I"I tar, would be recorded as a capital asscp_
CITY OF CAPE GIRARDEAU, MISSOURI
Expenses I roto governmental activities(continued)
Development services expenses deceased 53]7,710 (11.7'f6) this year During the previous year
the City spent 5337,350 to prosida subsidized Iasi semce to the public using Federal grail
revenues and user ices. During the cum-ni year Cape Courtly 'Transit Authorily assumed the
I spoils i hi li ty for public Itanspona tion within the Cil,. 'fhe Authority provides taxi and ]I ... I
ionic bus s'en'iw. 'this )ear's development scrviccs expenses include $70,145 in subsid}'
payments to the Authority.
Last year it,, City spent SI 15256 for beanifcation and landscaping of an exit Jump oil, Inlershre
1-si_ No expenditures for an lar items were rade during the current year. The Cit, spent $31.000
and $71,656, respectively, during the clinical vcar for professional services in updating its digital
maps and deselop rn, a strategic plan. No expenditures for similar items were made calling the
previous year
Inmrest and other costs Caere Sj7,442 (2.T!c) less than the preno is year. Only scheduled principal
.. and interest payments were made during tire year. No additional debt was issued.
Parks and nencranln expenses increased $132452 (43%) this year Personnel costs, which
increased 599,649 (s,Lo), were the major factor in This year increased expenses. hr January of
this year the Cify began to pay all of its employees at (cast W50 per hour, e at, established in a
nets stale law as the mininwuu rale. This he(] a greater impact on parks and recreation expenses
.. than any other arca of the City _ The City chose to make the wage adjustment seen though legally
Ihcv Icll the new law did not apply to them.
Pohlic safety expenses decreased $45724 (0.4'sd) this vcar Grant funded operating expenses
decreased S 106J39 (42 G9ot during this year Drnng the precious year the 61y spent $107,232 on
one-time grant funded expenditures for rescue equipment and rescue training for the file
.. department and smoke detectors that were installed by the lire depatlment in older residential
areas of the City. During the current year the City spent S20,394 (95.7.0 more than the previous
year m demolish condenmed buildings. Deptecialon espcnee was $77,130 (122%,) more Than
precious year.
• Puhhc works expcases increased S_'SS4.264 (W P'0 this year A h> x03,311 (� 1(.2%) incrcasc in
dep¢dalion expense on inGaslmclure made up 9(i 9",G oC this yours incrcasc. During the year the
City cupnalized indastruclure purchased or completed prior to july I, 2002 with a July I, 2006
depreciated value of S78,026.296. GAS13 Statement No. 34 had presioushy allotccd the
capitalization of this infrastructure to be deterred. Depreciation tons this newly capitalized
int[astmeture resulted in this year's Iarvc increase in depreciation expense. During the current year
public works paid 539,096 for its share of the cost of the utilities at the new public works
hczdquerters. In the pin ilius year this tires paid do Oil l the heel ma rtenanec Land_
CITY Of CAPF GIRARDEAU, MISSOURI
'IIt, Chat 'IheIon'IIlusti'a¢ the surplus,Iter subtid) I ,l O,,,d for di l fe, oI key C i ty pnm_i unu
smmau cempie
emtcee,oe o eaperise
Solid Waste
Sewer
wzmr
rnoi�aworss -
Peel
e S,Iolv
Perk,
a z nr��—�
oe,eiopment senme
Aaminislrarive
- +500000 3000.000 ;500000 c000,000 ],500.000 o,0oa,00a loCOO ,000 la000,COO
Ilse illustration above makes it elect that all the govemuteuml act ivitics and business -type activities oft lie
City with the csception of aaler required u subsidy by Wxpaycrs_ (ien Tal revenues in them aclivities
sufficient m provide adequate subsidies fmboth the govt nnucnwl mid business -type activities.
Revenues by Sell —
Guvernmmihd Activities
'7he chart to the " llt summarizes the sources of
revemte from government activities. the tluec
main sources of revenue and their share of total
govemmcntal rcvenucs of, sales tas (JO 8"i'),
other lases (20 i%) and clmfges Ihi services
112.1",i1
"Ihr ('.itys cnoml sales It, represents 44,9
p Iccot of the total sales tax revenue and 47.9
If of the total general land nNelmeS. The
rcntalool" sdo, Wscs arc for Imnspo.lalion,
Sovcr. water. and public safely ptyccts.
The _e^a.ul fiat deeounts for Sti and i1 21,
of the other laz and service charge revenue
resp lively.
this represents 23:o .," and U3o
of the total acneml fund revenues respectively.
IO
Revenues or govemmenral-iiviticz
CITY OF CAPE GIRARDEAU. MISSOURI
Baunnesp_tvne act, ties. Business-typeactivities
nmeased the City of Capc (imrdeau's net assets
by $1,980.607 (compared to $5398,654 in till
prcvinus fiscal scar) Ihcichy accounting for 3s 3
powcol of rhe total gmt+th in the act assets ofthc
City. Transfers front euternmenml actnitics
totaling 53_530.961 covered all the deneose in net
assets before Imusfers and all the increase in net
assets in it,, current Neal'. This eotnpmts to
aanslcrs )Pont govcmmcntal activities in the
precious year of $3.215 _45 which accounted for
59.64;. of that Seat , net asset ine'ease. lronst'ers of
water system improvements totaling 5566,097 and
sales tax rctenuc for bond payments fowling
S2.J ii,Nis make up most of the total transfers.
Last year u'unsfcrs' of tvaar system improvemart,
end sales las rcvcnuc for bond payments were
5657, )14 and S 1994,124 respeco, els_
Financial.4nah'sis .1 the City, bonds
As noted earlier - the C us of Cape Girardeau use,
fund accoumina to entire and demoustrule
mmpliancc with finance -related Iegol
regaircns nls_
Govemmemal funds. "Ihe focus of the Cit, s
gotemmenml funds is to protide iti onuaGou on
near-term inlle,t mal 1oe's, and balances of
spcudablc rasaurcc,. Such information is useful in
assess ig the City's financing ecquiremenu. In
particular untescn'cd Ilmd balance nmy senc as a
useful measure of the C'ity's act resourccs available
for spending at the end of a fiscal year.
.As of .lune 30, 2007, the City's .Iovc in cnial funds
reported combined ending find balances of
528,880,926, a decrease of $3,306.016 (10 131-) free
the is, year. Approximately 71,5 percent
(520.645,292) constitutes unreamed fund balance,
tthich is availahlc for spending at the City
discrcoun. Tire ien.audcr of the fund hJaacc is
lesnaed to indicate )hut it is not available for nuts
spending because it has ah'ca(ir been committed I) to
meet the City's chartered required emergency
reserves ($4.417,129). 2) to fund purchase orders
open a( the end of the year (51,.69.i,4sl), 3) In s'et
aside fund balance not cluiently atail'ablc for
cxprndit ne equal to lon- win, loans dire from what
City land, (51.100477), 4) to pay debt service
($250,043), mad 51 iestsctcd to a spccilic it,,
(S772,528).
The gesral fund is the chief upemting land of the
City_ At the end of Oscal year ending June 30, 2007,
unreserved fund balance of the gcuaral fund ttas
56171481 ,fail, total fund halancc was 5i 558,637.
As a measure of the general fund's liquidItV. it miss
be useful to compare both nnresarved find balance
and total fund balance to total fund expenditures.
Unreserved food balance represents only 2.8 percent
of total general laud expenditures including transfers_
Ilmvctcr, included in file resented fund balance is
53.516.052, tthich had been rescn'cd to meet the City
C'harter's emergency reserve requirement 'this
ontount retuesents 15.7 pemcut of total ecianal fund
expenditures including Iransfcrs and could be used if
an emergency was dcclnrcd by the City Council.
Tha Gavemnwnal Fond, Sl l nnan of Retenue,
-spendilures, and Chan es in I and Balance sht " that
rbc fund halanu of the ( tt of Capc (naidcau's
ecneral fend Incrcescd hs $14 ,768 dating the cuneus
0scal ,at Pile tic ucral Fund Slalenanl of Revenues,
Hxpetdimres- land Changes of Fand Balance plate, d
on a h fidget basis shows concur fiscal scar increase of
$94840. Diffaeneus hehceen rhe amounts reflected in
rhe l vo .statements can he found in Vote A Semon 6 of
,tic notes Io the financial statements.
Business -type actinides resulted in a net
decrease III assets before II'a its fatS totaling
$1,550354 in the cumnl yclar. In the previous
scar it,,,, was a 52,153,439 net incrcue in
assets before transfers_ Revenues from business-
tvpc capital nannts and contribution decreased
s2910,176(61 K,,) during file current pest.
The act chanuc in assets before tI'aisfeis in the
sewer, water, solid wasw, golf and softball
operations tolaled 5(2,099,137), 11.'374,752,
5(79,209). S(13d,784), and S(104.0Ss)
respectively in this ycu['fhis compares to
5685913, 51,446.315, 520,510 S(142,194), ,,it
$(321,689) respcctivcly io the previola ycer.
Revenues for business -type adiviies
�
Financial.4nah'sis .1 the City, bonds
As noted earlier - the C us of Cape Girardeau use,
fund accoumina to entire and demoustrule
mmpliancc with finance -related Iegol
regaircns nls_
Govemmemal funds. "Ihe focus of the Cit, s
gotemmenml funds is to protide iti onuaGou on
near-term inlle,t mal 1oe's, and balances of
spcudablc rasaurcc,. Such information is useful in
assess ig the City's financing ecquiremenu. In
particular untescn'cd Ilmd balance nmy senc as a
useful measure of the C'ity's act resourccs available
for spending at the end of a fiscal year.
.As of .lune 30, 2007, the City's .Iovc in cnial funds
reported combined ending find balances of
528,880,926, a decrease of $3,306.016 (10 131-) free
the is, year. Approximately 71,5 percent
(520.645,292) constitutes unreamed fund balance,
tthich is availahlc for spending at the City
discrcoun. Tire ien.audcr of the fund hJaacc is
lesnaed to indicate )hut it is not available for nuts
spending because it has ah'ca(ir been committed I) to
meet the City's chartered required emergency
reserves ($4.417,129). 2) to fund purchase orders
open a( the end of the year (51,.69.i,4sl), 3) In s'et
aside fund balance not cluiently atail'ablc for
cxprndit ne equal to lon- win, loans dire from what
City land, (51.100477), 4) to pay debt service
($250,043), mad 51 iestsctcd to a spccilic it,,
(S772,528).
The gesral fund is the chief upemting land of the
City_ At the end of Oscal year ending June 30, 2007,
unreserved fund balance of the gcuaral fund ttas
56171481 ,fail, total fund halancc was 5i 558,637.
As a measure of the general fund's liquidItV. it miss
be useful to compare both nnresarved find balance
and total fund balance to total fund expenditures.
Unreserved food balance represents only 2.8 percent
of total general laud expenditures including transfers_
Ilmvctcr, included in file resented fund balance is
53.516.052, tthich had been rescn'cd to meet the City
C'harter's emergency reserve requirement 'this
ontount retuesents 15.7 pemcut of total ecianal fund
expenditures including Iransfcrs and could be used if
an emergency was dcclnrcd by the City Council.
Tha Gavemnwnal Fond, Sl l nnan of Retenue,
-spendilures, and Chan es in I and Balance sht " that
rbc fund halanu of the ( tt of Capc (naidcau's
ecneral fend Incrcescd hs $14 ,768 dating the cuneus
0scal ,at Pile tic ucral Fund Slalenanl of Revenues,
Hxpetdimres- land Changes of Fand Balance plate, d
on a h fidget basis shows concur fiscal scar increase of
$94840. Diffaeneus hehceen rhe amounts reflected in
rhe l vo .statements can he found in Vote A Semon 6 of
,tic notes Io the financial statements.
CITY OF CAPE GIRARDEAU, MISSOURI
12
The oneinal adopted genual fund hadgcl for the
o Real estule and personal properly lux
fatal year ending June 30, 2007 was balancedrevenue
increased $sS,b IO (} 9� �) overthe
with the projected use of $430,509 in
previous your which was 546271 (32t,.)) more
accumulated fund balances drum precious years
tha i piolected foe lhcbuderl.
However. the actual general fund results
in,¢ns.d fund balances by $94,540. Significant
Assessed values for real estule and personal
deviations It Ibis budget at d,t l,d fork),
pnhper ty , re 42't�, and 11.046 mor e.
respeclivdy, this year than the previous year.
u Sales lax rcccnuc was $231937 (2.S14o
'Ihe adopted budget for fiscal veal ceding June
grratcl Than the pr,iouS year, which was
;Q 2007 had assumed 2.5%n and 0.0":
Ii
w
CITY OF CAPE GIRARDEAU, MISSOURI
Emess revenues and transfers Gum the fire sale,
of (hese purchases r+'ci c bended by donation and
las, public safety frust, and fleet maintenance
Lit alit enues
funds covcrcd the increased expenses and
trans@rs-
It $27,500 for payment on option to purchase land
next to public works hcadyuarters included in
per let., y funds_ Otte City (If Cape Girardeau
public works capital outlay expense,.
cnelprise Mods it, all presented as major fund,
Ibr purposes of this report_ A, a result, all
o $37,500 general turd hale lets to airport. parks
sectemcal, related to the enterprise funds are
and recleahou, golf and softball complex fund.,
presented at the uovemm,nt-xvnc Icycl. 'Ihe
to cove the costs of projccled operating
its docs have lnrernal Service funds, which are
deft,(,.
reported ie] the fund smtensnte.
o SI5,000 general fund transfer of additional fire
General Fnnd Budgetary highlights
sties tax mvcaue to the public safely Inst ficid-
Total expenditures on the final amended budget
o 528,615 general fund Iranslir of proceeds from
were 5792390 (3.690) more than the original
the City auction to fi, cq,upmmrl( mplaccmcnl
adopted budget. The changes can be summal iced
fund,
as follows_
o $I s.000 general fund uunsfer to huusim,
o SS5.000 to cove] the cost developing the
development gran( fund to cover match of
Cily's contprchcnsive plan included in
neighborhood impmecmentgrant
current cl,vclopmem ...vies cxpcnscs_
Excess general fund revenues were used to fund all
0 551),300 to cover additional personnel,
appropriations that did not has, an idcntip,d
utdni , Fuel and maintenance costs included
funding source,
in current parks and recreation expenses.
Capital aoiwls and Debt Administration
o SI 1.500 to coyer additional legal espcuse
included in urrrcnt adnin'tollivc
Capital Assets. The City of Cape Girardeat's
cxpcnscs_
investment in capital assets for its "Is'en mcntnl
and business -type activities as of .lune 30. 2007,
o 5163.7.i0 10 cover additional personnel and
amounts to $232,557,152 (net of accumulated
,,the, operating cxpcnscs of (he police and
depreciation)_ This investment in capital assets
lire divisions included in current public
includes all laud, buildings and _system
safety expenses, .411 of tire other operatingimpor"n"na"
machinciv and equipment, and
expenses which totaled $65,210 were
infmsuucmre owned by the City.
funded bygran( and donation er,cnuc-
I, S7 ;000 to rover additional s(2e(
maintenance expenses included ie] current
Citp Capital .Assets
public s,oaks expenses.
o SF4500 to cover a portion of debt service
zex
costs on the 2006 prontissop note with
I, goy
Bank of America which was not budg,",
e
ncrror.
o-
o $1790110 to col r (he cots of
tom nu ucarion. tin crprinhn2 pohgraplr,
and Fadar equipment for the police do son
and m,tallmor, of sprinkler and exhaust
systems for rhe lire divisions in luded in
n,
+
public safety capital outlay cxpcnx. Most
Ii
w
CITY OF CAPE GIRARDEAU, MISSOURI
City of Cape Girardeau's Capital Assets
(net of depreciation)
Major capital Isn't moots during the current
Governmental
Business
-type
o Constitclion costs looihng 55,696,170 on
approved transportation sults to, in njects
ore uncoiled Ins yeri Fill, las Vcan
Activity
originally appruccd to complete a spcciGc
Activities
list of sired protons, which also included
Total
amounts for street repair and overlav,
sidewalk construction and repair, and
2007
2006
'
2007
2006
2007
2006
Land
4,939,630
4,939,502
161,990
161,990
5,101,620
'
5,101492
Buildings and
rcplacing a major tvalcilinc, adding water
Tilton extensions and the (,oo-inch hcat,r
main replacem.nt program.
o 5691,691 in cos'Ls w,� Ilsu 'acini d un
'
system
trvnsportation sales las list of pmlects.
.�
o Conduction costs tooling $5011,574 Icer'
incurred for other improncills ills_ 'IIIc..
projects included nese lismncal lighting
Improvements
12,348,075
9,987.12]
2,613,362
2.]91.058
14961,437
12]]8,185
mprovemenls
other thou
buildings
10,148,266
6,951,115
8],049,447
64,045,563
97,197,]13
90,996,678
Equipment
4,242,008
5,001
2,936,844
2,]80,606
],1]8.852
],]8],552
afrasuuutre,
104,337,991
25,563,296
-
-
104,337991
25,563,296
Construction In
progress
2,091426
3063,996
1688,113
6071,763
3,]79.539
9135,759
Total
138,107396
55,511,982
94.449.756
95,850,980
232,557,152
151,362,962
Major capital Isn't moots during the current
14
in the de'mo'n arca, the amohmlion of the
old Mississippi 12ivcr firidge, rcillucclnunt of
airfield signage and Ills ichobilitatiun of the
fuel farm purcmall at the airport
c Construction costs totaling approximately
$12SA011 were also incurred on flood and
storm water control projects.
it Construction costs totaling 5470,947 on sewer
system projects were incurred this pear. A
capital ilnprocenant sales tux was orig nall,
approved in 1994 to complete a specific list of
improvenmms to the sewer system. Over
533950,000 in revenue bonds have been
issued through the State Rc%ulr'ing Loan
Promo to complete these projects. Most of
the projects on the list are none complete. At
the end of the poll, only One South Ramsey
Branch 1_5, if Slati,it vas not cunld"o,
o Poli" and lir, station improccmrnLs in IIIc
unnnun of S16630S w,,, orad, passible by
the pasage of a Fire Sales Tux. Allo funded
I" Ill's lax was the n'I'lo' ion of a ucw Glc
s1,j run. Curren) year espaudinlns uu it,,,
projccl ainounmd to S2,1109,755.
o Major Improvement, were made to several city
htlildings In the ammud of 5311315, Grunt
I'e,enue was used to ienwdd the a,mion
renal year loChlded the follrenw,
o Constitclion costs looihng 55,696,170 on
approved transportation sults to, in njects
ore uncoiled Ins yeri Fill, las Vcan
originally appruccd to complete a spcciGc
list of sired protons, which also included
amounts for street repair and overlav,
sidewalk construction and repair, and
street light ineollormn and oft
'
o Land purchase for the funu'e expansion of
the new public works facility in the
amount,' 527,5011.
o Construction costs tooling $570.404 on
water syst'm projects wore incurred this
vc-0r Major water system IniprOPcil elna
'
T"luded the e.,plul allow for a ucw "I'l
soul,, in Ih, loolh.rn parr of d" C'ily.
rcplacing a major tvalcilinc, adding water
Tilton extensions and the (,oo-inch hcat,r
main replacem.nt program.
o 5691,691 in cos'Ls w,� Ilsu 'acini d un
'
.tr"t pro'Ic Is not included un the
trvnsportation sales las list of pmlects.
.�
o Conduction costs tooling $5011,574 Icer'
incurred for other improncills ills_ 'IIIc..
projects included nese lismncal lighting
14
in the de'mo'n arca, the amohmlion of the
old Mississippi 12ivcr firidge, rcillucclnunt of
airfield signage and Ills ichobilitatiun of the
fuel farm purcmall at the airport
c Construction costs totaling approximately
$12SA011 were also incurred on flood and
storm water control projects.
it Construction costs totaling 5470,947 on sewer
system projects were incurred this pear. A
capital ilnprocenant sales tux was orig nall,
approved in 1994 to complete a specific list of
improvenmms to the sewer system. Over
533950,000 in revenue bonds have been
issued through the State Rc%ulr'ing Loan
Promo to complete these projects. Most of
the projects on the list are none complete. At
the end of the poll, only One South Ramsey
Branch 1_5, if Slati,it vas not cunld"o,
o Poli" and lir, station improccmrnLs in IIIc
unnnun of S16630S w,,, orad, passible by
the pasage of a Fire Sales Tux. Allo funded
I" Ill's lax was the n'I'lo' ion of a ucw Glc
s1,j run. Curren) year espaudinlns uu it,,,
projccl ainounmd to S2,1109,755.
o Major Improvement, were made to several city
htlildings In the ammud of 5311315, Grunt
I'e,enue was used to ienwdd the a,mion
CITY OF CAFE GIRARDEAU, MISSOURI
terminal building at the Airport and File
'� Smlions 41 & F2. The Cape Girardeau County unadjusted
u.employmcnt rate was 4.49, in Odobcr 2007. hoes
Additional informal inn about the Cip's capital compares favorably with the statewide unadjusted
ailed, can be found in note D of this re ort uneun tlovntent rate of 5.2°i�.
City of Cape Girardeau's Outstanding Debt
Year ended 2007
Governmental Business -type
r
2007 2006
Notes payable 1,336,625 1,408,875
Special
obligation
bonds 8.062 549 8,829,589
Revenue bonds 19,487,084 20,409,345
Certificates of
participation 2,490,318 2,615,385
General
obligation
bonds - -
Leasehold
revenue bands 141,000 172001
31,517,576 33435.194
2007 2006 2007 2006
513,375 541,125 1,850.000 1,950.000
567,750 755,429 8630,299 9,585,018
35,904,088 38,879,084 55,391,172 59 288429
- - 2490.318 2,615,385
- - - -
141,000 172,000
36985.213 40,175,638 68,502.789 73,610832
I ung -term debt. At tlm all of the fiscal year
Tho.. rates aerc 4 2",, and -,0"Y, res'pectecly for the
the City of Cape Girardeau had total debt
precious October. Only one cotmly in If], 13 county
nnlstanding of 163,102,759. podded debt
Southeast :A4issourI (Legion had a lower
outstanding totaling 555,391,172 is secured by
unemployment role and that county was adjacent to
rcvcnucs of the sewer and water funds and
Cape Girardeau County.
capital improvement sales luxes_ The repaynsnt
of the i uutr ing debt is subject to annual
Growth of ,[oil sales slowed this year Since the City
appropl'iul ions.
is heavily dependent on sales tax revenue far spppou
of idsgeneral fund services, slowed "iof local
'I he City's dotal debl decreased by S�Jdr uI
retail salol Can have a sinnificaur impact on the City s
to g°,6) during the -car. During the past year the
ability to fund services in the liable.
Ci p- mazle all nommlly s,h,duled payments and
did not color into any new debt.
'I he swte Hancock Amendnient reguims lie City eel
coon approval to increase any pernnl or liccux fee
Ware iufordnalion about the City's Oulvlaudin i
that is not based on acetal costs to the user and
debt can be found in lime P. to the fnanzed
strictly limits the City's abdily to inereaue ids real
slalcndeuls.
esuale and personal property tax levies to support its
general services such as police and fire protection.
ficonumic Facto's ,in(] the A'est Year's Budged
'the Cay Chiller requires voter approval to ruo,drrc
sewer, water, and solid cast, fees by more than
I Tnn,oi,rpl development al Cit, sieved this
in am year All otter user fees can be adjusted Iu
vcar while re9idcntial development remained
Cover actual costs.
rtebde. Clm nnw,vial permits v,flood at 511.4
million Iveco issued Ila, "per which was
Sl"n"'Cnnomv. Sales fall is a sisniGCanl revenue
siguificrnty below the liemlits valued pl 530.3
source of the City and is a barometer of the local
million issued in the previous vcar. Residential
cnmonre In the ...rend your sates lax leucon,
pandits issued is both years v'efe valued around
noruled 2 Rob while in(ladi n one, at 2.7 , In the
SIJ mill in ra.h year
previous peat'al" Wx revcnu id roused 4191. v:ldlc
15
aTY OF CAPE GIRARDEAU, MISSOURI
inlPdliou 21111 A 7°t. 'rules las is erowine If a
1390 pace during the first fine months of the
current 2003 fiscal year
Regional retail center 'Through most of the
1990's Cape Girardeau continued to be It
'e2ioual retail Center lis nmch of Soudwasr
Mis's'ouri and Southern Illinois. During till IAM
part of rhe 1990', Cap, (Inatdeau hegall to lose
iIr shore of ill, retail orIL't to odmr cities in the
mgioo as Ihrse cities added Admiooal retail
SALES TAX COMPARISON
'hlie prc,ious table, lahich includes the City of
Cape Girardeau and significant retail centers
within a 10 mile radius, shmas the percella,_c of
c'unlatcd sults mudk, by c;mh City to the total
a,ho,aled sales ofthe d,c allies. Since I8,. fiscal
,car ending ,lune 30, 2004 the City s share of the
local market hos remained fairly stable.
I owl I=c0000tic Development In 2004 the City
ant'e'd into 2 lone-ICI'nt dc,ulopntcnl
aerecmenls to rcimhune companies for the
public impm,enfeuts associated 115th 2 retail
development projects from the additional sales
tax generated front those projects. ht the current
fiscal scar the ('its reimbursed flies, companies
a total of s 147,27-1.
During the cement fiscal year the Cit entered
into a dc,dopml..t agrccmcul with Greolcr
Ml,,00n Build"', Inc (GMB) Io mlmhursa
them for costs associated 1,till the Town Plaza
Rcdcvclel l F rola" In conjunction with Ibis
agrccmari Ilia City established the 'font Plaza
Contnumit, Improvcmcnl District (CID) and
&I... fined the project area to be blighted
pursuant to (liapter9S3 of Missouri Rc,iscd
statues
'Illi, pmj all Insult,, Ilio cun,crinioll of the
below, Scan facility into It all cculcr for
Nadolol A ,,t R.covcr Scrnccs (NARS) aid
oiler 'anon, imp....... ls. sudl as farydc
impnlccmcnts. parking tacit:. its_ roof
leeotttilma ion, and HVAC enLWteamaus. Total
ro o'box Cnl..it, to GMB fur rcelecclapmonl
16
cosy lucre limited to 55.6 nulllon plus 7S'"6 intertest.
(hese tcimburscmcnls will be ntede ii'ont
......mental ('ouils and Cil, sales tax I" la,... an
additiuuul CID sales tas, and real catale las
abalcmenu. Relmho"al nu from incremental
County and City sales tax wienue leill be limited to
F l.I of the ,55.6 million total.
Iuelenn-nlul ( ounro and Cn) sales' tax rcve..ne is
&Faaad as the difference in tillruc tux revenues from
the City s 1 a gcnctal sales tae and i%, capital
impro,cmcnt sales tax and half the County s .",
general sales lax and the revenues from these roses
It the prig eel arca in calendar ,car 2006.
F,nmr, od first scar incrcmcntal Cil, sults lax
mumu, is approximntcly $!6(.110(1. Ifs aniapalel
that the CIU hill implement u 190 sales Ins.
Improvements to the redevelopment project will
receive 100,.,, real estate taz abatcmcnt for the firs110
scars and 5070 real estate tax ab,tcvant be the last
I i ,cars_ I lie current Sours facility will 1ccc,,1 1091.
mal estate tax ahaeli om for 25 )cars.:lose.] of 1000
asves'sed caluc, the abatement of flit, taxes to the
unimproved Sears lacihts would be 56275-1,
Itegimting in vear six of lite agreement, ?0°% of file
gross rentals from the VARS site will be rued to
supplement Ilse Incremental sales lax rccenucs.
Budeet for fiscal vear ending ,lune 30 2008, and
financial cpnd,fiork 'Ido adopted bud,,e. for the fiscal
,carending look, 30, 2008 leas balanced with the use
of $49,972 in i¢unmlamd fund balances from
previous 1'cal'a. .lie adopted budeet included 4%
wag, :..clerics and included projected revenue based
on reasonable revenue assumptions. V IIIIC the
approved bud,ct pmleced adequate re,Mski to Cesar
its projcctcd personnel and opemling costs, it only
provided $5000 hr co,cr the Gly s capital needs.
The Cih's current financivl position is strong in that
it has more than adequate bind balance to cull,
existing clams and potential emergencies However.
it, finanelal cmtdltlon or its ability to proaide enough
I'eocenl'I'ill2 rCiCiLle, to Irks. its rcoccunin2 nocds
sill] lass than desirable Fundiup of equipment for the
-Coa,al. alli and park, and recreation fund,
excluding police and fire divisions is still madequme.
Roiliest, fm' lufornntion
Tills [I,uncut Ivpon to 01x:_..10 to provide a _con al
o,crciow of the Cil, of cap" 6imrdouu'u Il..anccs
fat all 18, o.. wi 111 all fill cruel i.. tire City's Gammo,.
Quest Int IS corrcvrniag amof the inl'onualioo
pro,ided in Ibis repo'[ of rlyue95 for additional
financial ioforma[ion should be addressed to the
Finance Dirt) Ir. Co, of Cape Gimrdaau, PO Box
617_Cepc (Maid are 8,90 6i7O2-0617_
Fyo4
FY05
PV06
FY07_
Cape Gla.deau
410°/
41.1%
406%
489%
Carbondale
27.6"l
2]8%
290°/
284%
Jackson
9]%
97%
99°/
10.2%
Perryville
7.2%
7.2tl�
70%
71%
Sikeston
145%
142%
135%
134%
1000%
100.0%
100.0%
100.0%
'hlie prc,ious table, lahich includes the City of
Cape Girardeau and significant retail centers
within a 10 mile radius, shmas the percella,_c of
c'unlatcd sults mudk, by c;mh City to the total
a,ho,aled sales ofthe d,c allies. Since I8,. fiscal
,car ending ,lune 30, 2004 the City s share of the
local market hos remained fairly stable.
I owl I=c0000tic Development In 2004 the City
ant'e'd into 2 lone-ICI'nt dc,ulopntcnl
aerecmenls to rcimhune companies for the
public impm,enfeuts associated 115th 2 retail
development projects from the additional sales
tax generated front those projects. ht the current
fiscal scar the ('its reimbursed flies, companies
a total of s 147,27-1.
During the cement fiscal year the Cit entered
into a dc,dopml..t agrccmcul with Greolcr
Ml,,00n Build"', Inc (GMB) Io mlmhursa
them for costs associated 1,till the Town Plaza
Rcdcvclel l F rola" In conjunction with Ibis
agrccmari Ilia City established the 'font Plaza
Contnumit, Improvcmcnl District (CID) and
&I... fined the project area to be blighted
pursuant to (liapter9S3 of Missouri Rc,iscd
statues
'Illi, pmj all Insult,, Ilio cun,crinioll of the
below, Scan facility into It all cculcr for
Nadolol A ,,t R.covcr Scrnccs (NARS) aid
oiler 'anon, imp....... ls. sudl as farydc
impnlccmcnts. parking tacit:. its_ roof
leeotttilma ion, and HVAC enLWteamaus. Total
ro o'box Cnl..it, to GMB fur rcelecclapmonl
16
cosy lucre limited to 55.6 nulllon plus 7S'"6 intertest.
(hese tcimburscmcnls will be ntede ii'ont
......mental ('ouils and Cil, sales tax I" la,... an
additiuuul CID sales tas, and real catale las
abalcmenu. Relmho"al nu from incremental
County and City sales tax wienue leill be limited to
F l.I of the ,55.6 million total.
Iuelenn-nlul ( ounro and Cn) sales' tax rcve..ne is
&Faaad as the difference in tillruc tux revenues from
the City s 1 a gcnctal sales tae and i%, capital
impro,cmcnt sales tax and half the County s .",
general sales lax and the revenues from these roses
It the prig eel arca in calendar ,car 2006.
F,nmr, od first scar incrcmcntal Cil, sults lax
mumu, is approximntcly $!6(.110(1. Ifs aniapalel
that the CIU hill implement u 190 sales Ins.
Improvements to the redevelopment project will
receive 100,.,, real estate taz abatcmcnt for the firs110
scars and 5070 real estate tax ab,tcvant be the last
I i ,cars_ I lie current Sours facility will 1ccc,,1 1091.
mal estate tax ahaeli om for 25 )cars.:lose.] of 1000
asves'sed caluc, the abatement of flit, taxes to the
unimproved Sears lacihts would be 56275-1,
Itegimting in vear six of lite agreement, ?0°% of file
gross rentals from the VARS site will be rued to
supplement Ilse Incremental sales lax rccenucs.
Budeet for fiscal vear ending ,lune 30 2008, and
financial cpnd,fiork 'Ido adopted bud,,e. for the fiscal
,carending look, 30, 2008 leas balanced with the use
of $49,972 in i¢unmlamd fund balances from
previous 1'cal'a. .lie adopted budeet included 4%
wag, :..clerics and included projected revenue based
on reasonable revenue assumptions. V IIIIC the
approved bud,ct pmleced adequate re,Mski to Cesar
its projcctcd personnel and opemling costs, it only
provided $5000 hr co,cr the Gly s capital needs.
The Cih's current financivl position is strong in that
it has more than adequate bind balance to cull,
existing clams and potential emergencies However.
it, finanelal cmtdltlon or its ability to proaide enough
I'eocenl'I'ill2 rCiCiLle, to Irks. its rcoccunin2 nocds
sill] lass than desirable Fundiup of equipment for the
-Coa,al. alli and park, and recreation fund,
excluding police and fire divisions is still madequme.
Roiliest, fm' lufornntion
Tills [I,uncut Ivpon to 01x:_..10 to provide a _con al
o,crciow of the Cil, of cap" 6imrdouu'u Il..anccs
fat all 18, o.. wi 111 all fill cruel i.. tire City's Gammo,.
Quest Int IS corrcvrniag amof the inl'onualioo
pro,ided in Ibis repo'[ of rlyue95 for additional
financial ioforma[ion should be addressed to the
Finance Dirt) Ir. Co, of Cape Gimrdaau, PO Box
617_Cepc (Maid are 8,90 6i7O2-0617_
BASK'FINANCIAL S' ATEMENTS
► 1 1 1 1 1 1 1 It 1 It
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2007
Primary Government
Governmental
Business -type
Activities
Activities
Total
ASSETS
Cash and cash equivalents
S 1 488,870.74
$ 38,454.32
$ 1,527,325.06
Investments
26,638,408,65
4,324,974.08
30,963,382.73
Taxes receivable
3,283,435.39
-
3,283,435.39
Utility charges receivable
-
1 463,047.74
1,463,047.74
Special assessments receivable
1,478,472.07
100,121.75
1,578,593.82
Interest receivable
257,828.18
4,960.11
262,788.29
Other receivables
216,198.87
130,688.31
346,887.18
Notes receivable
430,845.14
-
430,845.14
Motor fuel receivable
130,474.59
-
130,474.59
Grants receivable
564,175.46
304.713.94
868,88940
_ Internal balances
1,283,412.16_
(1.283,412.15)
Inventory
168,415.96
284,798.12
453,214.08
Prepaid,tems
750,025.45
577,723.16
1,327.748.61
Restricted cash and cash equivalents
-
4,975,877.27
4,975,877,27
Restri chad investm encs
-
3,528,371.54
3,528,371.54
Land
4,939,629.95
151.989.55
5,101.619.50
Buildings
12,348,074.66
2,613,362.12
14,961,436.78
Other improvements
10,148,265.56
87.049,447.46
97,197,713.02
Equipment
4,242,008.04
2.936,843.52
7,178,851.56
Infrastructure
104,337,991.10
-
104,337,991.10
Construction in process
2,091 426.44
1,688,112.93
3,779,539.37
Total assets
$ 174 797 958,40
$ 108,900,073,77
$ 283,698,032.17
I 1 1 P 1 1 ► 1 Y I I I 1 1 I t M t I
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2007
Primary Government
Governmental
Business -type
Activities
Activities
Total
LIABILITIES
Accounts payable
$ 1,485,277.46
$ 738,757.53
$ 2,224,034.99
Salaries and benefits payable
1,241,628.81
223,700.09
1,465,328,90
Interest payable
546,511.66
581,137.03
1,127,648.69
Other liabilities
167,791.13
493.585.60
661,376.73
Estimated claims
1,315,750.00
-
1,315,750.00
Due to other governments
48,610.17
8,326.01
56.936.18
Unearned revenues
87,762.51
-
87,762.51
Estimated landfill post closure costs
-
68,000.00
68,00000
Current portion long-term debt:
Notes payable
36.125.00
13,875.00
50.000.00
Revenue bonds payable
1,000,000.00
3,219
624
66
4,219,624.66
Certificates of participation payable
125,000.00
125,000.00
Leasehold revenue bands payable
33,000.00
33,000.00
Special obligation bonds payable
785.000.00
182.000.00
967,000.00
Long-term debt net of current porion'.
Notes payable
1,300,500.00
499,500.00
1,800,000.00
Revenue bonds payable
18,487,084.35
32,684,463.78
51,171,548.13
Certificates of participation payable
2,365,317.52
-
2,365,317.52
Leasehold revenue bonds payable
108,000.00
-
108,000.00
Special obligation bonds payable
7,277,548.78
385,749.87
7,663,298.65
Total liabilities
36,410,907.39
39,098,719.57
75,509,626.96
NET ASSETS
Invested in capital assets, net of related debt
107,130.950.10
58,067,547.47
165,198,497.57
Restricted for debt service
250,042.51
1,075,000.00
1,325
042
51
Restricted for depreciation and replacement
-
1,187,000.00
1,187,000.00
Restricted for emergency fund
4,417,129.00
1,606,565.00
6,023,694.00
Restricted for Mausoleum
95,150.01
-
95,150.01
Restricted for River Campus Project
146,897.67
-
146,897.67
Restricted for Local Access Channel
36,570.54
-
36.570.54
Restricted for Operation and Maintenance
22,493,30
-
22,493.30
Unrestricted
26 287
817.S8
7,865,241.73
34.153,059.61
Total net assets
$ 138,387,051.01
$ 69,801,354.20
$ 208,188,405.21
1 i 1 f i 1 1 1 1 I 1 1 1 1 1 1 1 l 1
City of Cape Girardeau
Statement of Activities
For the Year Ended June 30, 2007
Net (Expense) Revenue and
Program
Revenues
Changes In Net Assets
Primary Government
Capital Grants
Chanes for
Operating Grants
antl
Governmental
Business -type
Funcggns/Programs
Expenses
Services
and
Contributions
Contributions
Activities
Activities
Total
Primary government:
Governmental activltes.
Administrative
5 6,981,566-98
$ 1991,42391
5
351,701 82
$ 211.5]],42
(4,42],16493)
(4,42],164.33)
Capital Improvements
387.776 69
-
-
58,101.00
(329.6]569
)
(329.675
69)
Develop mentthecees515
1,945,6]052
1057,55045
164.852.66
-
.36.700.5)
-
(763,986
89)
InterestR,,erg
1.362,38954
-
(1,302.387.544)
-
(1 9 829
895
4)
Parks andReo'eailon
3,3]4,]50]2
633,2995]
3,5]666
400.70244
(2337.177
71)
-
(2,337,177
Public
152]9,64118
1pt3,452.26
480.850.42
230.85361
(4,554.466.89)
-
(9.554.455.89)
wSafety
Ikp
Public works
6,554,850.28
8,250.00
-
829.693
13
(4,]45.916.15)
-
(4.]4591515)
Total governmental actinfres
30.91995]91
4,fi6]3156t
1.000848.90
1.330.92].60
(23,520Sfi520)
(23.620.56520)
— Brea,... (,,e Activities.
v
Golf Course
614.91007
454.17556
-
5.950.00
-
(13070451)
(134,78451)
Sewer
5,866.096.31
2 862,291
36
-
904,667J66
(2,099,13]29)
(2,099,13].27)
Sel ll Ccmplex
456 484 70
154480.34
-
25,95165
(904.05275)
(9208
Solid Waste
3,020,001 55
2,028,840.22
-
1165262
-
(]9,200.51)
(7
79,21)
202.55)
Water
5805,276 32
5602604.99
5]5,423.60
3]0]5226
3]4,]52.26
Total cradles type aerates
15590]68.95
1202249246
152584649
(224R.d31.Oc)
(2.242.431001
Total primary government
$ 46 710,726 26
$16689,808.0]
5
1500,948.90
5 3,256.]53.09
123.520]65
20)
(2,242,431.00)
(25]63.196.20)
FunctionelPrograms
Primary government
Governmental activities.
Y i 1 1 1 1
1 f
i 1
i 1
f
1
City of Cape Girardeau
Statement of Activities
For the Year Ended June 30. 2007
Net (Expense) Revenue and
Program Revenues
Changes In Net Assets
primary Government
Capital Grants
Charges for Operating Grants
and
Governmental
Business -type
Expenses Services and Contributions
Contributions
Activities
Activities
Total
General revenues
Property taxes
1772,069.36
-
1772,069.36
Sales taxes
19.343,694.13
-
19,343,694.13
Franchise taxes
3,272.510.62
-
3,272,518.62
Motor fuel taxes
1,522,052.29
-
1,522,05229
Convention and loudsm taxes
1,594,275.40
-
1,594.275.40
Merchant licenses
1,103,24065
-
1,103.240.85
borer l tenses
64,567.56
-
6456756
Other taxes
152,557.02
-
152,59.02
JuresV¢led grant¢ and contributions
40017.18
-
40,017.10
Unrestricted investment earnings
174002624
651,13968
2.391.16592
Gain on sale of assets
79 768.61
40,937.82
126,706
63
Other nog -operating revenue
4.29148
-
4,201
48
Transfers
(3,530,961.10)
3530,96110
Total general revenues
27 158,027 84
4.223 ,030.60
31381,066
44
Change In net assets
3637,262.64
1.980,60.60
5,617,870.24
Nelassets-beginning
57 436.6ol 73
68.35132019
125787,96192
Prior period adjustment
77,313,14664
(530573.59)
76,782.573.05
Nelassets -ending
$ 138,387,0510'
S 69.801,354.20
5208,188,405.21
1 I 1 1 i
1
1
1
1
1 1
1 1
i
1
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30,
2007
Other
Total
Park and Trans
Sales Tax
Trans Sales Tax
Governmental
Governmental
General
Alrpod
Recreation Trust Fund II
Trust Fund
III
Funds
Funds
ASSETS
Current assets
Cash and cash equivalents
S 30805.63
5
640.24
S 1,534.13 S
89,30946
S 48.04730
S 1,279299
93
$ 1.449,636.69
Investments
2,336,187.19
66,21264
159.18892 5.99951582
4.979.41931
9,93272064
23.47324452
Receivables
Realestate taxes. net
38,119
39
-
-
-
-
966486
47
784.25
Personal property taxes, net
20.386.02
-
-
-
-
3,817
10
24,203.12
Sees tax
715,60074
-
-
350.40671
532,753.83
1.598761.28
Franchise taxes
1465,789.07
-
-
-
-
-
1 465
789
07
Hotel 4 motel tax
-
-
-
-
-
58.921
48
58.92146
Restaurant tax
_
_
_
87,976.19
87.976.19
SFecial assessments
108,85921
-
-
281A62.63
-
1,088450.23
1478,47207
ro Other
35,90279
131,53363
34,382-27
-
1567.32
203.386.01
— Interest
23279753
-
-
-
25.030.65
257.828.18
Motor fuel tax
-
_
-
-
-
89.629.22
89629.22
Vehicle license fees
-
-
-
17.910.87
17.910.87
Motor vehicle sales tax
-
-
-
-
22.934.50
22.93450
Grants
136904.22
114,056.20
-
-
29,899.11
283.31593
564
175
46
Otherfunds
31078.09
-
-
-
-
-
31878.09
Inventory
106.40
49,03255
-
-
45,102.18
94241.13
Prepaid items
96.540.63
128,322.05
3.33466
243.219.61
471416.95
Total Current assets.
5.249.876.91
489797.31
198.439.98 6,369.98791
5,407772.43
13,722 314
54
31.438.189.08
Noncurrent assets.
Advances to other funds
1.160,47722
1,166.477.22
Total Noncu-n:m assets
1.100,47722
1,100.477.22
Total assets
S 6.350.35413
S 489797.31
$ 198,439.98 $ 6.369,98751
S 5.407,772
43
S 13722314.54
S 32,538.666.30
A 1 1 1 1 1 1 1 1 It 1 i i i 1 1 I1 1 i
City of Cape Girardeau
Balance Sheet
Governmental Funds
For the Year Ended June 30, 2007
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 liabilitiess.
Accounts payable
$ 265,305.60
$ 208.033.27
$ 55,504.99
$ 86.831.52
$ 83,956.06
$ 651.068.05
$ 1350,699.49
Salaries and benefits payable
260,212.13
16.565.95
51,808.66
-
-
2,134.56
330,721.30
Other liabilities
92663.82
44,585.85
30,461.97
-
-
-
167
711.64
Due to other governments
321,45
-
-
-
-
2,206.64
2,528.09
Payable to other funds
-
-
-
-
-
31,878.09
31,878.09
Unearned revenues
12,816.22
48.370.00
26,576.29
-
-
-
87,762.51
Deferred revenues
160,397.60
312.360.63
1,213,681.00
1,686,43923
Total Current liabilities:
791,716.82
317,555.07
164,351.91
399.192.15
83,956.06
1,900,968.34
3,657,740.35
{� Non current liabilities.
Advances from other funds
Total Non current liabilities:
Total liabilities
791,716.82
317,555.07
164,351.91
399.192.15
63,95606
1,900,968.34
3.657,740
35
Fund balances:
Reserved for:
Reserved
4,941,155.94
168.004.76
29095.64
365286.54
531,700.10
2,200,390.88
8,235,533.86
Unreserved
617.481.37
4,23748
4,992.43
5,605,509.22
4,792,116 27
9,620,955.32
20,645
292.09
Total fund balances
5,558,637.31
172.242.24
34,088.07
5,970.795 76
5.323,816.37
11,821,346.20
28 880
925,95
Total liabilities and fund
balances
$ 6,350
354
13
S 489.797.31
$ 198,439.98
$ 6,369,987.91
$ 5,407.77243
$ 13 722,314
54
$ 32.538,666.30
1 1 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Assets
For the Year Ended June 30, 2007
Fund balances of governmental funds $ 28,880,925.95
Amounts reported for governm infal activities In the statement of net assets
are different because:
Long-term liabilities, including bonds payable, are not due and payable in the current (30,840 580 78)
penod and therefore are not reported in the funtls.
Capital assets used in governmental activities are not financial resources and, 136.922,695.74
therefore, are not reported In the funds, net of accumulated depreciation of
S44,727,580.45.
Internal service funds are used by management to charge the costs of management 3,143,046.43
information systems, fleet management, employee fringe benefits, workmen's
compensation, and equipment replacement to individual funtls.
t�
..�
Other long-term assets are not available to pay for current -period expenditures and, 1,686,439 23
therefore are deferred in me funds.
Other accrued expenses which are not payable from current period revenues (1,405,475.56)
are included in governmental activities in the statement of net assets.
Net assets of governmental activities b 138,38],051.01
I 1 1 i 1 1 1 1 i i 1 i 1 i i i 1 1 i
City of Cape Girardeau
Slalemenl of Revenu99, ExpendiWres, and Cnangee In Fund Balances
Governmental
Funds
For He
Vaar Rai June 30.2001
Other
Talal
Park and
Trane Select Tex
Trans Sales Tax
Gorunnin lel
Governmental
General
Alryml
Full
Tins Fundp
mel Fund IT
Funds
Funrls
REVENUES
Taxes
5 1358565405
5 -
3 -
$
$ 4,21615350
5 033],339.1]
S 20.139126]2
Licenses 8 permits
1290,30935
-
-
-
5.6]8.95
1.29620830
Inle9wemmental
)31,90130
514,184]0
-
-
0095800
1,986.330.13
3,2713]053
Chni IS servmes
317,15670
1323,252.32
556.051.56
-
-
2.196x5050
Internal"ages
830,41670
-
-
-
-
83441620
Fines and fodols
89,03177
-
-
653,43177
Mlscellenecus
289,34756
223,034.04
16,241x0
-
-
1/959255
637,61556
nenirevenue
212.51150
138000
8260.10
455,065.95
152,20576
725,62676
1555052.14
SpeGel assassmem$
_ 7.715 78
41,985.94
245,244.57
29494629
Triabavenoes
18 122446 79
2,062,25106
579.55306
49705189
4409,297.55
11410.112.10
37080 712
EXPENDITURES
Cur -,I
Adminlstut,ke
2,153,11608
2,]81575 00
-
-
1,771036.10
6 305 726 18
OevelOpmem Ser"es
1576678.17
-
-
67300.19
273 341
1917,319.39
Prins and Recreation
1551,729an
-
1x0462715-
2962,35701
PWIm Safety
1031]46623
-
-
-
307,07297
10,62053920
PUH11cA=
1927,841.12
-
-
518x0
-
- 12,648.18
1,941,007]0
Debt Sealee
t'7 Adbars aellve merges
13269
69.091.32
69.22401
L
-
-
-
l
92,54193
720794
2B.09
-
1.160.15166
1,259 5
,9294
Issuance
ne
gat
97,51685
1591400
-
-
-
537,90859
1951,21315
fapTleltexpr
091,011x2
18698524
15 94955
5,57273
49
795590 .80
4
4,565,958.59
10540,268.33
Total ndrWres
eape
18,210,8]535
2,59L582x8
1x15.604]9
4.594,091.13
862890-99
9897.1998]
37,672,204.61
Fx,ess (dofiuenor.01
espendRv se
(883865
(529,331x2)
1836,051]3)
g 097039 24)
356640666
1512,912.27
(491,492023
OTHER FINANCING
SOURCES(USE6)
TPanslers or
(4,208.11077)
115 We
-
(/.280,938611
111552, 049 Ad)
Transfers In
4,2]845981
678.1759
833,53998
-
215.00060
2, 772,07721
8737,202.36
Asset Nseculmn
20,01500
-
3,06520
-
-
31,67020
01Her non-opealion revenue
420140
4101x8
Total one, lnanmn9
sourcee arld rsse5
103.15652
583,175-00
836.59504
21500000
(4, 516, 861 46)
(2,778.93490)
nor Ci, in Our
5alances
1476796
53,84358
54131
(4 097 039 20)
3,761x06.66
(3,003 949
0,27042692)
Fund Ounces -beginning
5,543,86935
118, 3906fi
33,54476
10 06703500
1,562,40971
14,06088470
32186,64218
Prior period ne"'Innent
05589.311
(35,58931)
Fund balances -and,
E 5558,63731
$ 172,24224
5 34068.07
$ 5,97079576
$ 5923,8163
5 11,821,34620
S 28 880 925 95
i i i 1 1 1 i 1 I 1 1 i 1
i i 1 1 1 1
Cily of Cape Glrartleau
Ree cilia e51¢ � of Rev s, Eipei
anJ Ganges In Pontl Onlancee of Goremmanizl FunGs to IOe Stelernenl of ACLv:Les
Porthe Vear Entletl June J0, 2007
msec
ae ;ana oalan�e—m e,.m ramaltam
—
aze �_
s �,
_ a, g,>e„n._„a; anh,,resn J:a nalen,nn; m._u,maa
If. ]ucliors of Jebf ne mportetl N Ne Wntl fnaroal
820 J1515
1111111,1,1,,—"e
e:rZ , m a U,l_>.e
u um repos eapl;al,u'layz os eprr'.tlmm�a.
vi]Gns.:c
e,=, 3r,pf �nmewe1mam;
'ff pr,cat 11,n:m
;etla oepreeauoe e ,,.,Ip
,,.:mtlepe ezpe, 5e eees+Aeo ca p:;alu eye
Ife ed
;.e �n- m penm�
111-1-d, Ey, ,aym ria
�sysle
:655Ci.5d)
;. ozs n
m ,apes ., tr
aa;:nn. nne eewpino)l1-18een:em n:Ild—d-1
r.:ner.n
t C'nvlony ;e .. _, a0le;o pav ;e: ce': in
(1 5 287 02)
nenmm:es anl. me:em,e aye ae� �mamua
Is
sone ernenses raponetl In ILu sd;emem n; ndlanes ao no,
Ji za; eC
LI singe n nn; salols If yore:nmenlal adimLee
; fl, '11 e0
1 f 1 1 1
i 1
i
1
1
1
I 1 1
1
1 1
1
1
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the
Year Ended June 30, 2007
Businessd p A T 'tl - E t F d
Total
Gov. Activities
Proprietary
Internal Service
Sewer
Water
Solid Waste
Golf Course Softball Complex
Funds
Funds
ASSETS
Current assets-
Cash and cash equivalents
$ 12,381.44
$ 15313.20
$ 9,649.69
IS 527.36 $
582.63
$ 38,454.32
$ 39,234.05
Investments
1,264,625.18
1,960,381.22
984,746.07
54,]29.]7
60491.04
4,324,9]4.08
3,165,164.13
Utilities charges, net
405,486.84
757,262.57
300298.33
-
-
1,463,047.74
-
Specialassessments
74,874.73
25,247.02
-
-
-
100,121.75
-
Other
15543
130.112.05
420.83
-
-
130,688.31
12,812.86
Notes receivable
-
-
_
430.84514
Interest
1.334.33
3.625]8
-
-
4,960.11
-
Grants
254.016.70
50.69].24
-
-
-
304,713.94
-
Inventory
-
268,625.61
-
7,383.76
8,]88.75
284,798.12
]4,174.83
Preoaiditems
195,294.89
379.040.64
2,966.10
421.53
-
577,723.16
27,718.63
Total Currents assets'.
--T,-208.169
54
3 ,590,305.33
1,298.081.82
63.062.42
69.862.42
],229481.53
3,749,949.64
J
y Noncurrent assets:
Rest Cash and Cash Equivalents
4,954,718.95
21
215
71
(57.39)
-
-
4,975,877.27
-
Rest Investments
645,32747
2,878,630.16
4.413.91
-
-
3,528,371.54
-
Advances to other funds
-
_
-
Land
49,750.00
-
112239.55
-
-
161,989.55
37,50000
Ending,
8.078,346.00
174,311.63
1,051,146.72
140.253.00
33,671.61
9,4]],728.96
46,22445
Equipment
2,95],21]45
1,686,705.66
1,]63,256.09
232,618.43
88,386.45
6,728,184.08
3,586,373.35
Other improvements
66,280.670.18
44,960,945.67
333.132.92
551.268.84
26,592.57
112,152,610.18
155,653,19
Construction in progress
898,077.85
790,035.08
-
-
-
1,688,112.93
-
Accumulated depreciation
(24,519,356.30)
(8,368,395.49)
(2,132,304 14)
(63979885)
(99,01524)
(35,]58,870.12)
(2,641,050.98)
Total Noncurrent assets:
-59-,344,751
60
--42,143
4-48.42
1,131.827.66
280.341.32
49,635.39
102,954,004.39
1,184,]00.01
Total assets
$ 61,552
921
14
$ 45,733,75375
IS 2.429.909.48
$ 34],403.]4 $
119,497.81
$ 110,183,485.92
$ 4,934,64965
I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1
City of Cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 30, 2007
Total
Gov, Activities
Proprietary
Internal Service
Sewer
Water
Solid Waste
Golf Course
Softball Complex
Funds
Funds
LIABILITIES
Currentliebtlities:
Accounts payable
$ 190,98].35
$ 397,483.77
$ 99,344.15
$ 20,525.33
S 30,416.93
$ 738,75].53
S 134,511.97
Salaries and benefits payable
91
451 45
7,654.67
60,727.66
29,535.82
34,330.49
223700.09
51,09361
Interest payable
497,162.10
82,706.02
1,268.91
-
-
581.13703
85000
Other liabilities
217,789.12
184,688.96
85,149.22
5,958.30
-
493,585.60
79.49
Estimated claims payable
-
-
-
-
-
-
1,315,750.00
Due to other governments
1,958.72
6,36]29
-
-
8,326.01
-
Payable to other funds
-
-
-
-
-
-
Advances from other funds
-
-
-
Notes Payable
6,150.00
-
7,125.00
-
-
13,875.00
4,875.00
Revenue bonds payable
2.394,624.66
825,000.00
-
-
-
3.219,624.66
-
Special obllg bonds payable
89.183.26
56,752.99
36,063.75
-
-
182,000.00
70,000.00
Total Current liabilities'.
1,560,653,70
289,678.69
56,019.45
1,511,226.07
3,489,906.66
64,741.42
5,461.005.92
Noncurrent liabilities:
Advances from other funds
-
-
620,000.00
290,471.22
190,000.00
1,100,411.22
-
NotesPayable
243,00000
-
256.500.00
-
-
499,500.00
175,500.00
Revenue bonds payable
27,263,628.42
5,420.835.36
-
-
-
32,684463.78
-
Specialobligbondspayable
184,620.40
117,712.39
83,411.08
-
-
385,749.87
221,81208
Est landfill post closure at
-
-
68,000.00
-
-
68,000.00
-
Total Non current liabllibes:
21,691,248.82
5,538,54]75
1,021,917.08
290,411.22
190,000.00
34.138,190.87
391,312.08
Total liabilities
31,181,155.48
7,099,20145
1,311,595.77
346,496.67
254,747.42
40,199,196.79
1,974,538.15
NET ASSETS
Invested In capital assets, net of related
23,781,966.50
33,202,718.19
748,88607
284,341.32
49,635.39
58,067,541.47
612,577.02
Restricted for debt service
-
1.075,000
00
-
-
-
1,075,000.00
-
Restricted for depreciation and
127,000.00
1,060,000.00
-
-
-
1,187,000.00
-
Restrictedforemergencyfund
390,497.00
790.86000
425,208.00
-
-
1,606,565.00
Unrestricted
6,072,302 6,072,30216
2.505.974.11
(61780.36)
(283.434.25)
(184,885.00)
8,048,176.66
2,341,534.48
Total net assets
$ 30311765-66
$ 38.634.552.30
—$—1 112
3-1371
$
907.07$
(135.249.61)
69,984,289.13
$ 2,960,111.50
Adjustments to reflect the consramtsur ormternai service
fund iscru s relapse to emerpdeo
rands
net asses of
business type acti
(182,934.93)
S 69,801,354.20
f 1 1 i 1 i 1 1 l 1 i i i 1 Y 1 1 1 1
LO
T
City of Cape Girardeau
Statement of Revenues, Expenses, and Changes in Fund Net Assets
Propnstary Fund.
For the Year Ended June 30, 2007
Total
Gov. Activities
Pmpnem
Internal 5erdm
Seven
Water
Solid Waste
Got Course
Softball Complex
Funds
Funds
Operating revenues
Resa llal charges
$ 1,6172925C
S 3155,42682
5 1,928.199-64
$ -
$ -
5 6,700,918-96
5 -
Commercialcharges
1,031,51987
2,233,110.06
27987.11
-
-
3,2926204
Transfer station charges
-
-
852,121.54
-
-
852,121.54
-
Otherfeesandcharges
39,173.67
198,888.75
03,08025
-
321.12667
-
Concessionrevenues
-
-
73,49375
84,26632
157,780.07
Equipment sales
-
-
-
10.01100
6,54150
15552.50
-
Intmnolaharges
-
-
-
_
-
4791,81785
Urban too,
-
-
388,29681
60,96609
449.26490
-
Miscellaneous
21,02532
1520135
37,55168
2374.00
2.684.03
7963678
1,912.30
Total operaung revenues
2709011.36
560260498
2928.94022
474,175.56
154.48034
1167001246
479373023
Operating expenses'
Personnel services
1409,937.31
123,50330
1,173,013.32
3C8,497 64
288,63643
3.303.588.00
725.964.50
Materds d supplies
362,93350
538.44396
124,506,61
7538122
61,45558
1.162,721 07
321,52834
Contactual services
209.446.63
3.15507420
1.112,73249
2075725
24,296.65
4,530307,22
3,706788.57
General opemlin, expenses
33,013.80
179,25747
38,03064
55,96833
59,476.03
366,546.27
32725,43
Special prC9rams
23690677
93,649.28
8458975
10 208 48
3509.80
422,844 08
-
Internelserverexpenses
136,63336
40,801.52
250.79125
55.179.62
2735542
519,76117
2,49700
Depreciation
2,569,583.41
1334,11573
165052.02
58,729.64
593396
413341476
30464992
Total osevere a*penses
4,953,15470
5.47304546
2.948,716.28
592,722.18
470743.07
1443918257
5,Og4.t63to
Germain, income (less
(2243,34342)
128759.52
(19]76.06)
(116.546.621
131626353)
12569, 17C 11
@00422.93'
concerning revenues (expenses)
Intergovernmental
162403.66
11,85262
174.25618
-
vestmenlrevenue
347,831.31
237,59566
62144.87
130675
2,261.09
651.139.68
186.515.68
Gain fmm sale of astal
1174750
2291859
3221.23
1.008.00
2,042.50
4693782
5452725
Other non-operating revenue
-
-
-
14,17178
Interest and other charges
(843,553.92)
(303734.43)
(44,35257)
(16.408.99)
(8,82715)
(1,21 6d77 06)
(20.94876)
cast emdnizatldn
(43,054.42)
(29,82979)
(1,27944)
-
-
(75.06365)
(669.38)
Loss from sale of asset
(175007)
(1.750-071
1651676)
Total uncrossing revenues(expenses)
(366525.87)
(73.0499)
3158671
(15.844.31)
14.523.561
(427,357D0)
227,07981
Income(loss) before contributions and transfers
(2808.869.20)
55706.55
11,81665
(134.39093)
(320.787.09)
(2996.52711)
(73.343.12)
Contributed capital conal fee
152.480.00
-
-
15248600
-
Conlributedbefire' charter,
742,26400
577423.60
-
-
-
1319687.60
Garrote etl Capital -government
-
566,096.50
-
-
-
566,096.50
Conlribuled caeltab donations
-
-
5,950.00
25,951.61
31901.61
-
Transfersln
2,155,81471
395,000.00
92.80388
32124601
2964864.60
48,615.00
Transfers out
(190,673.02)
Change In net asset,
441.68942
1,564.22965
11,81665
(35,63.05)
26410.53
2,036503.20
(223,40114)
Total net assets -beginning
30.214,803.51
37 196,753
19
1,158,65268
63,005.50
(156.855.36)
68,476,35952
3,301,66301f
Prior period adjustment
(284,727.271
(156.430.54)
(56,149.62)
(25,46130)
(4,00478)
(530 57359)
(118.15644)
Total net ..at, -ending
5 30371765.66
5 38634.55230
5 1 112313
71
5 90' 07
$ (135249611
5 60,984289.13
$ 2,95011150
Adjustments to alleca the conso6tlat e, of Internal service
fund actrvitlea
related to enlarphsa funds.
(57,895 601
Change In net assets of busnessless acMittes.
$ 1,96060760
A ► 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, 2007
Business -type Activities - Enterprise Funds
Government
Total
Activities
Softball
Proprietary
Internal Service
Sewer
Was
Solid Waste
Golf Course
Compel
Funds
Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Resp of, from customers
5 2,683,55832
a 5]hoci.82
E 2837,33539
S 474,008.41
b 16448034
S 11.887,48d.io
5 101uni
Receipts from'mterfund Services
-
27.98711
27 987 11
4,690,100.90
Other leeelpt,
-
-
1,50000
-
15c0Ap
1,912.38
Payments to Suppliers
(794,45944)
pi 822,40048)
(1,33923865)
(155,763511
(157674.29)
(6269,53607)
(3,602,85076)
Payments for salaries and benefits
(1407,223921
(119,365.41)
(116671675)
(306,05627)
(267,90379)
(3,288,286.14)
(723.57823)
Payments forinteRu ntl services used
(170317won
(49,801521
(250,79125)
(68,502.60)
(33,898.07)
(573 311
(3.25900)
Payments made In lieu Of franchise taxes
-
(139326.11)
-
(139326.11)
-
Disbursement from escrow
(3200000)
-
-
-
132000.00)
-
RemiVanceofbrescollectedfromCustomers
(15.147651
(1is13039)
-
-
-
(195.17824)
-
iJ Net cash provided (Used l by operating activities
..
264,40942
1428,15991
106,575.65
154.81567)
__732499581)
141933370
Ito ,121fAt
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers from Other funds
395,00000
-
92,80388
321,241l
809,04989
-
Transfers t0other funds
-
-
-
-
(19867302)
Advarce repayment t0 other funds
-
-
(2191741)
-
(2191741)
(202,930011
Inte'esl paid to Other funds
-
-
(28.804.34)
(16409.99)
(8,827.15)
(54000481
(839.16)
Net cash (used) by hancopilal financing
395,000.00
(28 804
54,47748
312,41886
73309200
1402,44219)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING
ACTIVITIES
Capitol Contributions
346,00331
14967088
18,25762
-
-
50493181
Principal received received on promissory note
-
-
-
-
-
183,32680
Interest received on plpmis5pry note
-
-
-
43500.12
Proceeds from sales cfcapilal assets
11747.50
27,94842
322123
2,508of
204250
4746765
11983455
Purchase of capital assets
(333278 71)
(198,40689)
(21G 139.04)
(20.58693)
(6,00000)
(851,41157)
(257,2956)
ACquisidard and construction of capital assets
(483.92365)
15,89851)
0229 him
-
(499,05016)
-
Principalpaldoncapilaldebt
(2007,83891)
(855,219.12)
(5225791)
-
(2,915,3160)
(74 750001
Interest paid 0o retinal debt
(1120, IW 981
(27. foot 92)
117,359501
-
-
(1417,10340)
(20,088.80)
Transfers In for capital acquisitions
-
-
-
-
-
-
4661500
Transfers In for payment Of capital related debt
2,15581471
-
-
-
2,155,81471
-
Net cash (used) by capital and related unending
activities
(1 431 516 73)
_71-170 14-8 141
(350,50566)
D8.01893 1
(3,951 501
--F2,914,68098)
0318414
f 1 1 i f I 1 1 1 1 1 1 1
City of Cape Girardeau
Statement of Cash Flows
Proprietary Funds
For Oe Year Ended June 30, 2007
Business -type Activities - Enterprise Funds
Government
Total
Activities
Softball
Proprietary
Internal Service
Sewer
Water
Bond Waste
Goll Course
Complex
Funds
Funds
CASH FLOWS FROM INVESTING ACTIVITIES
Interest reseiveb
329,34929
193,92535
5386378
1,05343
1,93947
580,13132
142,424.99
Repayments vabo ived oradvances to puler tunas
-
-
-
-
30,931 51
Net Mange In pooled Investments
326,91941
(948,86432)
171,35976
640231
)?94126
(429,44159)
(103,29302)
Proceeds from Sales and maturities of Investments
-
-
-
-
-
260000.00
Purchase of Investments
(9.50576)
-
-
-
(9,80576)
f259,79683)
Net cash provided by Investing activities
64646294
054,9389))
221223
945574
14,68073
140,88398
(9,63335)
Net Increase (decrease) In cash and cash
equivalents
(520,70637)
(102,32730)
(47,51061)
18961 38)
0,65372)
(681357.20)
(104,96179)
Balances- beginning of year
5467,60476
138,856.11
57.10291
9,48874
243635
5,695,68881
144.195.04
Barred, end of the year
y
S 4,967.ID039
5 36,52891
5
959230
E 52736
5 $8263
E 5,014,33159
5 39.234.05
Reconciliation of operating income (loss) to net cash
provided (used)
by operating activities:
Cason, income (loss)
5(2343.3.42)
S 126,75952
S
119776001
5 (116,546621
E (316,263.53)
$ 8569,17011)
S [300,422.931
AdiuStri to reconcile operating income to net
cash provided (used) by operating aetcate,
Deprecation expense
2, 569, 583 a1
1334.11573
165,05202
58 729 64
5,93396
4,133,41476
304,64932
Changes In assets and liabilities:
Accounts payable -supplier
(12,622 97)
175,812.26
(1902.06)
3570.04
(13,867.54)
150,97573
29,97199
Accounts payable other
(28,87501)
21,492.16
2,788.37
1,233.20
-
f3, 361 26)
285A
Salaries 8 benefits payable
2,71339
5,117.89
4,296.57
2 441 37
732-64
15, 301 le
2.38627
Customer receivables
(2079130)
(29,3629)
(43,45537)
9761
-
(93425.39)
(196.06)
Other operating receivables
1132364,00)
-
-
(13226400)
247stir 36
Prepaid i....
(225460)
(7962)
(427 32)
5646
-
(2 70536)
(13,344 25)
Inventory
-
05.51776)
-
12,403.41)
(1,51134)
09432511
a,93954)
Net cash Provided by operating ae:aties
3 26440942
7_1 -42815"l
E
1069585
($ 54,81567)
S 324,99561)
5 1,41033370
E 264,12964
I 1 i 1 1 1 i i 1 1 1 1 f 1 i i i / 1
City of Cape Girardeau
Statement of Net Assets
Fiduciary Funds
For the Year Ended June 30, 2007
Agency
Funds
ASSETS
Cash and cash equivalents $ 8,825.11
Investments 869.368.43
Real estate taxes 19,775.31
Personal property taxes 10,825.56
Other 37.500.00
Total assets $ 946.294.43
LIABILITIES
Accounts payable $ 90,893.33
Salaries and benefits payable 13,317.51
Other liabilities 842.083.59
Total Liabilities $ 946,294.43
City of Cape Girardeau, Missouri
NOTES TO BASICFINANCIAL STATEMENTS
June 30, 2007
NOT". A - St NIMARY OF SIGNIFICANT' ACC'.00N'TING POLICIES
The City of Cape Gimrdeuu, Missouri (the City) operates under a charter, t� hich went Into effect April 12,
1952. 1 lie Cily operates under a C ounci I-Mane,er foist of goventment and provides the fol loo'ing sen ices
as authorized by its charter: public safety (police and fire), highways and streets, water, sanitation, health
and social services, culture-recrculion, public improvement, planning and zoning and general
administratine services.
the financial statements of the City have been prepared in confomtitywith generally accepted accounting
principles (GAAP), as applied to government units. The Govemmental Accounting Standards Board
(GASB) is the accepted standard-setting body for establishing governmental accounting and financial
reporting principles. 'I he more si"Ill ficant accounti it,,, politics of the City at described below.
I. ReoortinC Ill
In evaluating how to define the City, for Financial reporting purposes, management has considered all
potential component units. Generally, component units are legally sepzrnte organizations for which the
elected officials of the City arc financially accountable. l'he Cape GiraCdCBU (Missouri) Public FacllItIcs
Authority (CGPFA) is a blended component unit of the City. For the year cnde(l Junc 3Q 2007, the CGPI' A
had no as's'ets, liabilities, revenues, or expenses.
Althuugh not a component unit of the City, the City handles the funds of and prosides accounting mind ocher
sery ices lbr several entities. Since these funds we hcl(I by the City, these entities arc shown as Agency
Funds in the financial statements_
2. Government-w'ide and Fund Financial Statements
The government -wide financial statements (i.e- the statement of net assets and the statement of actin itics)
report infommation on all of the nonfiduciary actiritics of the ptintary government and its component units.
The effect of inlerfund activity has been removed hem these statements. Gownwienial acowtice, which
nominally are supported bytaxes and intcrgor crnmcntal revenues, arc reported separately from husumcss-name
.. octiritics, which rely to a significant extent on Cces and charges for support.
The statement of actinitics demonstrates the degree to which the direct expenses of it given function or
segment are offset by program rc.'enucs. Direct etjica cs arc those that are clearlyidentifiable with a
Specific function or sefnnent. Progrum revenues include 1) chmges to customers or applicants who
purchase, use, or directly benclit from goods, services, or privileges provided by n given function or
segment and 2) grants and contributions that arc restricted to meeting the operational or capital
requirenments of a parlicular function or scement. 'lases and other items not properly included among
progrun revenues arc reported instead as genrrul men oras.
Separate financial statements arc provided for Lovernmcnlal funds, proprietary Curds, and liduciury ILnds,
evert though the latter are emludod Gem the kovernnment-wide Iinuncial s'tatcments. Major individual
governmental funds and major individual enterprise linitis arc reported as separate columns in the fund
financial statements.
32
y, City of Cape Girardeau, Missouri
NOILS TO BASIC FINANCIAL S [AT]-.'vI F.NTS
.lune 30,2007
NOTE A - SUNIb4ARV OF SIGNIFICANT .ACCOUNTING POLICIES - Continued
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The go<emment-wide financial statements arc reported using the economic resources measureruent focus
and the aecrnol haws ofaceouuting, as are lhepropriclary fund financial statements. Revcnucs arc recorded
when tamed and capenses arc recorded when it liability is incurred, regardless of thu timing of related cash
flows. Grants and similar items arc recognized as revenue as soon as all eligibility requirements imposed by
w 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.
Govemmental fund financial statements arc reported using the current financial resources measurenicnt
focus and the mortified accrual ba.w.v of accmmimt, Under the modified accrual basis, rcvenucs aro
recognized as soon as they arc both mcaswnble and available Revenues are considered to be avudahle
whenthcyarccollo;tiblewithinthecwIentperiodor sooncnoughthercaftertopuyliat)ilitiesotthecurrent
period. For this purpose, the City considers rcvenucs 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 incuned, as
.- under accrual accounim,, llowevei; debt service expenditures, as well as expenditures related to
compensated absences and claims and judgments, at recorded only when payment is due. Those rcvenucs
susceptible to accrual are propertytaxes, franchise taxes, special assessments, licenses, interest revenue, and
charges for services. Sales taxes collected and held by the stale at year-end on behalf of the City, also arc
recognized its revenue Fines and permit revenues are not susceptible to accrual because, gencially, they arc
not measurable until received in cash. With the current linancial rosowces mcasurcment focus, only current
assets and con ent liabilities at gcncrall), included on the balance sheet.
"flit City reports the following major governmental funds:
The general (tnd is the City's primary operating fund. It accounts for all financial resources of the
general government, except those required to be accounted for in another fund.
Tho oirporlfilnd accounts for the resources used in the operation and maintcnanceofmunicipal airport
facilities,
'I hep", Asand recreation fired accounts for the nrosourccs used in the operation of park and recreational
activities.
"fhe Iran.sporlation soles tar II III hard 11 accounts for the receipt and expenditure of a capital
improvement sales tax that was approved by voters for street construction and improvements.
The tronspotlaRon soles m.r trust fend 111 accounts for the receipt and expenditure of it edpital
improvcnient sales tax that was approved by voters for street construction and improvements.
33
City of Cape Un at Missouri
NOTES "f0 BASIC FINANCIAL S I'MEMEN"I S
June 30. 2007
:VOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus, Basis of Accountin_ and Financial Statement Presentation - Continued
The City reports the lollowing major proprietary funds:
The semei and accounts for the operation of the City's sewage treatment plant, sewage pumping
stations, and collection systems.
The It fiord accounts for the operati on o f the City's water treatment plants and distribution systems.
The solid mrastc fiord accounts for the operation of the City's residential solid waste and recycling
programs.
The ,,oif fimd accounts for the operation of the municipal golf course.
The softball co pley,fimd accounts for the operation ofthe City's softball complex, and maintcnancc
of the City's soccer, baseball, and softhall fields.
Additionally, the City reports the following fund types:
/nkwnal.cerrica fiords account for management information systems, fleet management, employee
benef its, workmen's conmpensat ion, and eq uipment leasing provided to other depaitments or agencies
of the Citv, on a cost rcinmbursenment hasis.
:Igeucr fiords account for the operations of the library, arena improvement committee, and parks
development foundation.
Private-scctor standards of accounting and financial reporting issued prior to December I, 1959, genci.dly
are followed in both the goverment -wide and propnetaryfund financial statements to theextent that those
standards do not conflict with or contradict uuidance of the Governmental ACCOmnInu Standards Bourd.
Goveinnrents also have the option of following subsequent private-scctor guidance Cor their business -type
actieitics and cntcrpriec funds, subject to this same limitation. The Cityhas elected not to follotw subsequent
private-scctor guidance.
.Asa general rule Oma effect of interfund aetis-ity 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 enteprise function and various other functions of the government. Elimination of these charges
would distort the direct costs and program revenues imported for the carious functions conccrncd.
It is the City's policy to first use restricted act assets prior to the use of unrestricted net assets mwhen an
expense is incurred forpurposes for which both restricted and unresuieted net assets arc available.
34
City of Cape Girardeau, Missouri
NOTES TO RAS1C FINANCIAL STATEMENTS
Junc 30, 2007
NOTE. A - SURINIARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement Focus. Basis of Accountine, and Financial Statement Presentation - Continued
Amounts reported as program rerenues 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 gmreral revenues rather than as program
revenues. Likewise, general revenues include all taxes.
Proprietary linds distinguish operating revenues and expenses from nmroperzuing items. Operating
revenues and expenses generally result from providin; sen ices and producing and delivering goods in
connection with a proprietaq' fund's principal ongoingoperations. The principal operating revenues ofthc
C'itv's enterprise funds and of the City's internal service funds are charges to customers for sales and
scrviccs. Operating expenses for enterprise funds and internal service funds include the cost ofsalcs and
scrviccs, administrative expenses, and depreciation on capital assets. All revenues and expenses not mcct-
ing this definition arc reported as nonoperating revenues and expenses.
4. Caoital Assets
All capital assets with all original cost exceeding 55,000 are recorded at historical cost or estimated
historical cost ihactual historical cost is not available. Additions are recorded at cost or, ifeontibuted
property, at their estimated fair value at time of contribution. Repairs and maintenance are recorded as
expenses; renewals and betterments arc capita l iced. The sale or disposal of capital assets is recorded by
mmoving cost and aceutnulatcd depreciation and char -ling 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 ofgovemmenlal activities in the statement ofactivitics. Assets are reported netolf
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 arc 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 conmtitments related to unperlormecl connects for goods or scrviccs.
Encumbrance accountinu is utilized in all kinds- l incumbrances outstanding nt file end ofthe year in the
a,avemmental funds are reported as reservations of fund balances and do not constitute expenditures a
liabilities because the commitments will he carried forward and honored during the subsequent year_
Encumbrances outstandin, in the protinctuq funds do not constitute expenses but kill 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 ;eve incnt-wide statement of net assets.
35
('fly of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2007
NO A - SUSINIARY OF SIGNIFIC NT ACCOUNTING POLICIES - Continued
6. Im entm-ies
Im cntories consist primarily of supplies, valued at cost. The cost o f inventories is recorded as espcuditares
or expenses when consumed rather than when purchased.
7. Compensated Absences
Vested or acannulated vacation pay for proprietary funds is recorded as an expense and IiabiliIN, of (hose
Funds as the benefits accrue to employees. Amounts of vested or accumulated vacation (cave of
govcmmental funds are reported in the Statement of Net Assets. Entployccs may accunuilate up to 30 days
vacation. lorwhich they are eontpensated upon termination or retirement Employees are not compensated
for accumulated sick leave upon termination, bur are compensated one hour for each tight hours of unused
sick CaNc upas retirement.
R. Bond Premiums, Discounts, and Issuance Costs
In governmental fund types, bond discounts and issuance costs arc reeo;nized in the current period. Bond
discounts and issuance costs for proprietary fund types are deferred and amortized over the torr of the
bonds. Bond premiums and discounts arc presented as tither increases or reductions ofthe face umouut of
bonds payable"Lercas issuance costs are recorded asdeferredcharges. Thcaccountingtrcatmentol bond
premiums, discounts, and issuance costs used for eovemmental activities in the government -wide
statements is the same as that used for proprietary funds.
9. Cash and Investments
_ The City maintains an intemal imestmenl 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 turd
based on its average equity balance in the pool.
Cush includes amounts in repurchase agreements and other short-term investments with a maturity date
within three mouths of the date of pmchasc.
I llvCstImCntS, with a maturity dateofone yearor more at the time of prchaso, arc recorded at failvaluc. All
other cash and imestments arc recorded at cost or amortized cost.
10. Prepaid Items
Payments made to vendors for services that will benefit periods be)'ond June 30, 2007 arc recorded as
prepaid items.
36
City of Cape Girardeau, .Vrissoun
NOTES TO BASIC FINANCIAL STATEMENT'S
June 30, 2007
NO'I F .4- SUNVIIARN OF SIGNIFICANT ACCOUNTING POLICIES- Continued
11. Restricted Assets
Certain proceeds of cnteiprise fund revenue bonds, as well as certain resources set aside lorthe repayment
Of such bonds, are classified as restricted assets on the balance sheet because their use is limited b%
applicable bond covenants. The "revcnuc bond coustructiod' account is used to report those proceeds of
revenue bond issuances that are restricted for use in construction. The `revcnuc bond cunent debt scn ice"
account is used to report resources set aside to make up potential future deficiencies in the revcnuc bond
cut cin debt service account.
12. Lone -terra Obligations
Only that portion of longi term oblipanons expected to be financed born expendable available financial
resources is reported as a fund liability of a govcrnmcntal fund. Long-term liabilities expected to be
financed frorn proprictary fund operations are accounted for in the appropriateproprictaryfund. Long-terin
liabilities expected to be financed from governmental activities aro accounted forin the govcrnmmnt-wide
statement of net assets.
13. Interfund Transactions
Quasi -external transactions arc accounted for as revenues, expenditures, or expenses. Transactions that
consulate reinabuwsements to a fund for cxpcnditures/expenses initially made from it that are properh
applicable to another fund, arc recorded as cxpcnditures/expenses in the reimbursing fund and as reductions
of expenditures/expenses in the fund that is rcimburscd.
All other interfund transactions, except quasi -external transactions and reimburscmcnts, are reponai as
transfers. Only net transfers between govcrnmcntal and business -type activities arc reflected on the
eovemment-wide statement of activities.
14. Short-term Interfand Receivables/Pavables
During the course of operations, numerous transactions occur between individual funds for goods provided
or scimccsrcndened. These rcccivablcs and payables are classified as"interflutdreccivables/payables"on
the governmental balance sheet and proprictary statement of net assets. Only net receivables between
govcrnmcntal and business -type activities are reFlected as internal balances on the government -wide
statement of net assets.
15. Advances to Other Funds
Noncun-ent portions of long-term interfund loan rcccivablcs and payables are reported as advances in the
governmental balance sheet and proprietary statement of net assets. Fund balances arc rmscrved on the
govcrnmcntal balmice sheet for interfund loan rcccivablcs to indicatethat Iheydo nol constimtc exl)endablt
available financial resources and therefore are not available for appropriation. Only net long-term interfund
loons betwecn , %vinmental and business -type activities are retlected as internal balances on the
goacnunenl-wide statement of net assets. Net assets arc not reserved for interfund loan receivables on
proprictary and government -wide slalemenls of nel assets.
37
City ofCapc Girardeau, MISSOuri
NOTES TO BASIC FINANCIAL S I ATEMEN FS
June 30, 2007
NOTE A - SUMMARY OR SIGNIFICANT ACCOUNTING POLICIES - Continued
16. Post-Emnlotment Health Care Benefits
ht addition to the pension benelils described in Note G, it is the City's policy to protide postretirement
health care benefits to employees who retire from the City with five or snore years ofsertice and who arc
eligible for LAGERS retirement (Note G). Currently, forty-three employees meet those cli_�-,ibility
requirements. The City provides health care coverage for them until age 65. The cost of retirees' licallh
cart benefits is reco,nized as an expendi lure as prwnIMasi at paid Por the year ending June 30, 2007,
those costs totaled 5233,515.
COBRA Benefits - Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the City
provides health care benefits to eligible former Clip Ioyccs and eligible dependents. Certain requirements
are outlined by the federal ;overnment forthis coverage. The pIcanium is paid in full by the insured on or
before the tenth (10th) day of the month for the actual month covered. This proms ant is offered for a
dwationof IS months aftertheternimation date. Thcrcisno associated cost to the City under thisprogram,
and there were three participants in the program as of,luue 30, 2007.
17. Infrastructure
The City defines infrastructure as the basic physical assets that allow the City of function. The assets
include the street system, water system, sewer s)'stem, parks and recroalion lands and impmvensnt system,
storm Mater .syetent, and buildings combined with the site amenities such as parking and landscaped areas
used by the City in the conduct of its business. in Gastructruc of the wafer and scwcr Syslcros were routinely
capitalized in the water and sewer funds of the City and are reflected as other improvements in the
Business -Type Actititics section on the Statement of Activities..
GASB Statentcut No. 34 allowed local governntarts to defer retroactive capitalization of iufrastrucuuc or
LIP to four years. The City elected this option for the remaining of its infrastructure deferred its
capitalization until this year. During the ycar ended June 30, 2007 the City capitalized infrastructure with It
duly 1, 2007 depreciated taluc of 575,026,296. This amount is reflected as a portion of -the prior period
adjustment in the Governmental Activities section on the Statement of Actiaitics.
_ During the year ended June 30, 2007 all inf astructures mntpleted (lurinUthc hscal Wal, including
projects started in a precious ycar, were recorded at their historical costs.
38
City of Cape Girardeau, Missouri
NOTES TO BASIC FIN'ANCIA I. S I ATEMENTS
June 30. 2007
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 im eshnents held at June ',0. 2007, and reported at fair value, are as follows:
Deposits
39
Demand Deposits
$ 959,540
Interest Real ine Deposit Accounts
5.539.789
Total Deposits
$ 6,499.32
Investments:
Nenotiable Instnuncnts
$20,467,292
Federal Nome Loan Bank
4,488,384
Federal National Mortgage Association
7,151831
Federal Homc Loan Mortgage Corporation
2,988,087
US Treasury Note
264 529
Total Im estments
$35.361.123
'fotal Deposits and Investments
$41,86.0,452
Reconciliation to Statement of Net Assets:
Deposits and Investments-, Book Balance
$41,860,452
Petty Cash
12,698
Deposits and Investments, Statement of Net Assets
$41,&73,150
As of lune 30, 2007, the City had the following investments:
Investment Maturities
Fair Value
Negotiable instruments 07/03!2007-01;23/2013
$20,467,292
Federal Home Loan Bank 1227/2007-13/15/2011
4,488,384
Federal National Mortgage Assoc. 09112/2007-04202012
7,152,831
Federal Home Loan Mortgage Corp. 12/28/2007 - 09/19/2008
2,988,087
US Treasury Note 11/15/2008
204.529
Total
$35361,121
Custodial Credit Risk:
Deposits in financial institutions, reported as components of cash,
cash equivalents, and imestments,
had a bank balance of $6,971,945 at Junc 30, 2007, that was fully
insured by depository insurance or
secured with collalernl held by the City's agents in its name All investments,
evidcnettl by individual
securities, arc registemd in the name of the City.
39
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
.lune 30, 2007
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 (low requirements. The City will not directly invest in
securities nmtminfl more than seven _years." The maturities of investments held at lune 3Q 2007 arc
provided above.
Investment Credit Risk
The City has an investment policy that limits its urvestment choices as follows:
a. Direct obli_ations of the U.S. Govemment, its agencies and instrumentalities to tahich
the full faith and credit of the U.S. Government is pledged, or obligations to the
payment of which the full faith and audit of the State is pledged;
b. Certil -Cates of deposit or savings accounts that are either insurcd or secured NNith
acceptable collalerd with in-stn[c f financial institutions, and full}' insured Celli Scales of
deposit or savings accounts in out-ol-state financial institutions;
C. Repurchase agreements C011atcralized b)' aeellllt1CS listed in (a.) abovo, documented by it
written agreement, Polly collatcralizcd by delivery to an independent third party
custodian, and are marked -to -market;
d. Moneymarketmulual funds whose portfolio consists ofthe foregoing instruments and,
C. Other prudent investment instruments approved prior to purchase by it MO -thirds
majority of the City Council. Bond proceeds maybe invested as allowui in the bond
indcamrc.
C''oncentration of Investment Credit Risk
The City places no limit on the amount it may invest in any one issuer At June 3Q 2007,the City had
no concentration of credit risk.
40
Cily of Cape Girardeau, Missouri
NOTES TO 13ASIC FINANCIAL S I A'CGMF.NTS
June 30, 2007
NOTE C - PROPERTY'I'AXES
.� Property taxes attach as an enforceable lien on property as of.lanuary I. Taxes were levied on August 21,
2006, Cor collection during this fiscal year and were due on or before December 31. Most of the taxes arc
collected in November and December. The tax rates assessed at the time were as follows:
General Revenue S .31351100.00 assessed valuation
Public Health .0557/100.00 assessed valuation
Special Business District .7576/100.00 assessed valuation
92 (Ad Valorem)
Property tax receivable balances as of June 30, 2007 arc as follows:
_ Special
General Business Public Debt
Revenue District I_Icalth Scrcice Total
Curl-ent properly tax S55,774 $2,434 $10,443 S - 568,651
Delinquent property tax 13,169 93 2,465 819 16,546
Reserve for doubtful
.. Property taxes1( 0438) - 1953) (819)1( 321(1)
Net property tax receivable 558,505 $2;527 $10,955 �_ _ - S71,987
NOTE D - CH.ANGBS IN CAPITAL ASSETS
A summary of the capital assets for 1,,ovcmn3cntal activities included on the government -nide statement of
net assets for the year ended June 30, 2007 is as follows:
41
Balance
Accumulated
Bulauce
July 1 2006
AddtionsIJcdudfons
DSrcclarion
1111, 39.2007
Lund
$ 3 934502
A 128
$ -
s -
$ 4,939.630
Buildings
9,957,127
2,875,315
25.647
455,720
12,345,075
Improy,mcnls other
than buddines
6,911,115
5.197,170
50,103
1,949916
10.148266
Equipns"a
5,004946
-141,81s
2,830,967
(1,323211)
4242,00S
onastrucrurc
25,561,296
101,110,036
493,630
21,841 ,�I1
104337.991
constmetion fn progress
? 061,996
L441,�74
2.604.144
_
_ 2A,)1 426
Dotal wpitul assets
s",511,982
,5111, ,0
5.4007,691
$ ?2,91I,916
$ s 107196
41
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL S'FALEMEM S
June 30. 2007
NO FF D-( IIANGES IN('APII AI. ASSETS - Continued
. Additions and deletions to the Enterprise Funds forthe fiscal year 2007 were $8,664,285 and S728S,085
respectively. Additions and deletions to the Internal Scrvice Funds were $319395 and S1,096364
respectivcly.
A summary° of the proprietary fund tpe capital assets included on the proprietary fund statement of act
assets for the year ended lune 30, 2007 is as follows:
Enterprise Internal
Fund Scrvice Fund
Land S 161,990 S 37,500
Buildings 9,477729 46,225
Improvensuts other than building 112,152,610 155,653
Equipmcnt 6,725,184 3,556,373
Construction in progress L6SS.113
S 132209,626 S 3,825,751
Less: accumulated depreciation 35.758.570 1641,05 1
S_94,449,756 51,184700
Deprcciuliou espouse was charged to functions as follows in the Statement of Activities:
Governmental Actieitics:
Administrative S 464,903
Development Services 11,596
Palks and Recreation 344,940
Public Safety 475,055
Public Works 3.609.806
7bWI S4,909 1100
Business -Type Activities:
GolfCOnrse $ 58.730
Sewer 2569,583
Softball Complex 5,934
Solid Waste 165,053
\valor 1.333.1 1(i
Total $4,133,415
42
City of Cape Girardeau, Missouri
_
NOTES
TO BASIC FINANCIAL STATF%IF.NTS
June 30, 2007
NOTE E - LONG -'I ERNI OBLIGATIONS
The following is a sunvnary ofchanacs
in the long-term debt included
on the City's statement ofnct asscts
for the vear ended June 30, 2007.
C.ncscd D'l,t
Gunn mm�iml
OWe1 Revenue
Puld Otheiar
V,tint...
D1btbonds
Lcuvc (l o ran nients rand
D1bt p,,bl, .lute 1, 2016
$ 1I15,34S $ 20A09,346 S
SI I,S71 S 63,515 834 i 10,SFn
I'IC mwm amurtamiun
17,107) ('_=611
- - V), 60I
Raucd
1958,'--'0) 19211,000
f 4,6111 117,71.1 0,910..987
,Additions
-
D brpmmble Juneltl, 2007
s 1_01(091 S 19487084 b
807,286 5 46,02 S _gyl3
a
)11111 Ucbt includes Notes I'mublc, Spcliol
Obliynllo1 ponds. Lcuschuld R11"i 1 lallil_
and ('enif,ut, 0r I'urfmipullnn.
Business -type
Other RCvCnne
Activities
Debt* Bonds
"total
Bonds payable at
July I, 2006
$1,296,554 538,879,084
540,175,638
Discount Premium
Amortization
(7,(179) (26,206)
(33,885)
Accwnulated Interest
- 621,210
621,210
Bonds Retired
(207,780) (3,570,000)
(3,777,750)
Bonds Issued
Bonds payahlc at
June 3(), 1007
SJ,081,125 S35,90d,088
$36,985,213
'Other 1)eh1 includes Yours Pvc6blennd Sp,,,,d
Obligmiun Itonds
43
City of Cape Girardeau, Missotai
NOTES TO BASIC FINANCIAL STA'I'FMEN"I'S
June 30, 2007
NOTE E- LONG 'I ERM OBLIGATIONs - Continued
Bonds payable for governmental and business -type activities at June 30. 2007 arc comprised of the
following individual issues:
$ 1495 000 Special Ohliiii tion Refunding and Improvement Bonds Series 2002
Ycar Ending Interest Principal Interest
June30 Rate Due Duc Total
2008 450",, S 340,000 $ 54,905 S 394,905
2009 3.75 350.000 39,380 389,380
2010 4.00 340M0 25,130 365,130
2011 4.00 155,000 15,655 170,655
2012 4.10 155 000 9,455 164,455
2013 4.10 155.000 1,177 _ 1 58, 177
$1,495000 il47 702 X612,7(12
Principal payments arc made annually oil October 1, and interest payments arc made swni-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 talcs varying from 3M"X, to 4.5M, The bonds are special
obligations of the City payable solely from the income and revenues provided for the year plus am'
unencumbered balances front prior years.
The bonds were issued by the City for the purpose ofproviding funds to (a) pay the costs of icfundine the
Building and Equipment Leasehold Refunding and Improvement Revcnue Bonds, Series 1993, issued on
behalf of the City by the Cape Girardeau Public Facilities Authority and outstanding in the principal amount
of $1,085,000, (b) pay the costs of refunding the Certificates of Participation (Capital Lnpiovemenls
Projects), Scrics 1994A, issued un bchal f of the City by the Cape Girardeau Public Faci lilies Authority and
outstanding in the Fit i nci pal amount of $1,255,000 and pi cpayi ng the leasehold i mer est representul thereby.
(c) pay the costs of constructing certain street improvements within the City, and (d) pay the costs of
issuing the Bonds, under the authority of and in full compliance kith the City's Chalet 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 goveminL, body of the Cil%.
The oulstandim' bond tubi liq° for the Special Obligation Refunding and Lnprorement Bonds Scrics 300'_ is
allocated as follows: 5930,000 for Governmental activities and 5565,000 for Business -hype activities.
44
City of Cape Girardeau, Missouri
NOTES TO BASIC HNANCIAI_ STATEMENTS
I nuc 30,2007
NOTE E- LONG-PERM OBLIGATIONS - Continued
S6,170.000 Waterworks System Refundin, RC%'eliLIC Bonds Series 2006A due as follows:
Year Ending Interest Principal Interest
.� June 30 Rate Due Due Total
2008 3.75`% S 825,000 .S 342,588 $1,067,588
2009 3.75 960,000 211,650 1,071,650
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 1 .705000 68?00 1,773,20(
$0,170,000 S 952438 S-71.12,438
principal payments are made annually on March I, and interest pa)lnenis arc Made semi-annually on
Murch 1 and September I.
On January 3, 2006 the City issued 57.160,000 of Waterworks System Refunding Revenue Bonds Scales
2006A with interest rates varying from 3.5% to 4.0"/,. Thebonds me special limited obligations ofthe City
payable solely from the net income and rcvcnucs derived by the City frmn the operation of the W atcrworks
System after payment of costs of operation and maintenance.
The bonds were issued to prov ide the City with remaining funds need to retire 58,170,000 principal amowtt
of Waterworks System Refunding Revcnuc Bonds, Scrics 1995.
45
_ Cay of Cape Girardeau, Missouri
NOTI7S TO BASIC FINANCIAL STATEMENTS
lune 30, 2007
NOTE L- LONG -TERN? OBLIGATIONS - Continued
.. S 1 250 000 Sew craac System Revenue Bonds (State Re%oh ine Fund Pro --,ram) Scrics 1991 due as
fol lows:
.� YCal Ending
Interest
Principal
interest
June 3O.
Rale
Duc
Duc
Total
2008
6.875",,
S 145,000
S 85,937
S 230,937
2009
6.875
155,000
75.969
230,969
2010
6.875
165,000
65,312
230.312
2011
6.875
175,000
53,969
228,969
2012
6.875
190,000
41,937
231,917
2013
6.875
205,000
28,875
233,875
2014
6.875
215,000
14,781
229,781
51,250,000
$306.780
51, Il(> ?780
These bonds are dated December 1, 1991. The proceeds of the bond i ssucwei e used to extend and improcc
the existing sewerage facilities serving the City.
Principal payments are made annually on l Line 1, and HIM rcst payments are made semi-annually on l Linc i
and December I.
The interest due on the Series 1991 Sewerr System Rcvcnuc Bonds is subsidized by interest earnings on a
I escivo fund held by the bond issue'strustcc. As the City is reimbursed for saver prof cc ex lien(lit Liles from
the coilstnicti on funds held by the trustee, the Sl at ofMissoILL i Department of Natural Resources deposi is
an amount equal to approximatcIy 51.90"5;, of the rcimbursemCat into the reserce fund. The maximum
amount of funds that will be advanced to the reserve fund will be $1,250,000. As bonds are retired 50"' of
_ the amount of bonds retired wi 11 be repaidlo the Stale OFMissouri Department of Natural Resources out of
the reserve fund. The balance of the reserae fund at.lune 30, 2007 was 5625,003. I lie nescive fund yields
6.71 "-,.
Durine the fiscal year-end .!tine 30, 2001, certain bonds orieinalty issued by the State Environmental
Improvement and Bner_y Resources Authori n- as part of the State Resolving Fund Program were rcllindcd-
Annual deft scnVice savins resulting Gom this transaction arc to be used to offset City deht service
payment,due onScries 1991 Bonds. During the liscal year enclenl (tine 3t1, 2007. City interest expense was
reduced by S20,155 as it result oflhis transaction. Over the remaining life of these honds, file City will
.. receive net present value hene(ts of approximately $94,_'59 Rom this transaction.
46
These bonds arc dated August 1, 1993. 'Ihe proceeds of rho bond issue were used to extend and is prox c
the existing sewerage facilities sen ink the City.
Principal payments are made annually on March 1, and interest pa5anents are made semi-annually on
March I and September 1.
The interest due on the Series 1993 Sewcr System Revenue Bonds is subsidized by interest callings on a
reserve fund held by the bond issue s ti ustec. As the C ity is rcindmrscd for sewer project expenditures from
the construction funds held by the tnistce, the $talc Of M issouri Department of Natural Resources deposits
at amount equal to approximately 70",4, ofthe rcimbursancnt into the rescrve fund. "Phe maxinnum amount
of funds that will be advatced to the resenc fund will be 5350,000. As bonds are retired, 70%, of the
amount ofbonds retired will be repaid to the Stateof Missouri Department of Natural Resources out (A -the
resm e fund. The balance of the reserve fund at June 30, 2007 was 5763,100. The i escrve fund yields
47
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2007
NOTEE- LONG- TRIM OBLIGATums
- Continued
$160.000S
s (State Rc%oE nye
Fund Proei am)
Series 1993 due as follos+s:
Year Ending
lntcrest principal
Interest
JunC30,
Rate Due
Due
Total
3008
5,2000 1, $ 27,000
S 13,242
$ 40,242
-
2009
5 250 28,000
11,905
39,805
2010
5.400 30,000
10,260
40,260
2011
5,400 31,000
8,613
39,613
3012
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
$260,000
860,013
_320,013
These bonds arc dated August 1, 1993. 'Ihe proceeds of rho bond issue were used to extend and is prox c
the existing sewerage facilities sen ink the City.
Principal payments are made annually on March 1, and interest pa5anents are made semi-annually on
March I and September 1.
The interest due on the Series 1993 Sewcr System Revenue Bonds is subsidized by interest callings on a
reserve fund held by the bond issue s ti ustec. As the C ity is rcindmrscd for sewer project expenditures from
the construction funds held by the tnistce, the $talc Of M issouri Department of Natural Resources deposits
at amount equal to approximately 70",4, ofthe rcimbursancnt into the rescrve fund. "Phe maxinnum amount
of funds that will be advatced to the resenc fund will be 5350,000. As bonds are retired, 70%, of the
amount ofbonds retired will be repaid to the Stateof Missouri Department of Natural Resources out (A -the
resm e fund. The balance of the reserve fund at June 30, 2007 was 5763,100. The i escrve fund yields
47
City o f Cape Girardeau, M i sso u n
NOTES] 0 BASIC FINANCIAL STATLMEN I'S
.lune 30. 2007
NOTE E - LONG-TERM OBLIGATIONS - Continued
S 4.930.406 Watcr_ Pollution Control Revenue Bonds (State Revolving Fund Procram) Sa-ies 1995D due as
follows:
.. Ycar Ending
In erest
Principal
Interest
lune 30-
Rate
Due
Due
"total
2008
5.85(11!L
S 943,267
S 996.733
S 1,940,000
2009
5.950
946,770
7,143,230
2,090,000
2010
6.050
722,409
992,591
1,715,000
3011
6.100
413,574
636,426
1,050,000
2013
6. 150
380,828
654.172
1,035,000
2013
0.150
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
6250
278,844
706,156
985,000
2017
6.250
259,535
715.465
975.000
$4,930,406
S 7,894,594
$1S2� 000
These bonds are dated .lune I, 1995. The proceeds of the bond issue were used for the extension and
improvement of the existing sewcrane system saving the City.
Principal and interest paymmnts arc made annually on .IanuapI beginning in 1998.
'I he interest due on the Series 19950 Nkrater Pollution Control Revenue Bonds is subsidized by interest
earnings on a rescrve fund held by the bond issue's trustee. As the City is reimbursed for sewer proicct
expenditures Gom the construction funds, the State of Missouri Department of Natural Resources deposits
an amount equal to 70"4, of the disbursement into the resin e fund. The maxinwm amount of funds that
will be advanced to the rescrve fund will be 70% of the principal amount less the onttinal issue discount.
As bonds arc retired 70% of amount of bonds retired w ill be repaid to the State of M issom i Depanmcnt
_ of Natural Resources inn of the nmservc fund. I he balance of the reserve fund at .June 30, 2007 %� as
S3,451,284. The reserve fund viclds
4S
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2007
NOTE E - LONG -TER -NI OBLIGATIONS - Continued
S 2835.000 Scwcraec Svstcn>_Rcvcnuc Bonds (State Rcvoh ine Fund Pro;ram) Series 1996 due as follmt s:
fear Ending
lntemst
Principal
Interest
.. ILine 30.
Ratc
Due
Due
Total
2008
5500'Z.
S 700,000
S 571869
S 1,272,869
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
3 18, 18 1
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
965.000
56,935
1,021.935
_ $9,83L(9)0
83,972,974
513,807,974
These honds are dated Jute 1, 1996. The proceeds of the bond issue were used for the CXtCuSlon and
improvement ofthe exist in, sewem�c system sen ill" the City.
Principal payments aremade annu ally on.lanuary 1. Interest is paid semi-annually on January 1 and July l
herinnind in 1997.
The imerest due on the Series 1996 Scwcral-c System Revenue Bonds is subsidized by interest earnings on
a reserve fund held by the pond issue's trLlstec. As the City is reimbursed for sewer project expenditures
front the construction funds, the State of Missouri Department of Natural Resources deposits an amount
equal to 70°l0 of the disburscntent into the resem fund. The maximum amount of funds that will be
advanced to the reserve will he 59,474,500. As bonds are retired, 70G, ofthe amount of bonds retired will
he repaid to the Department of Natural Resources out of tltc reserve fund. The balance ofthc reserve Ilmd
at lune 30, 2007 was 56,884,500. The resene fund yields 5.70%..
49
_ City of Cape Girardeau, :Misseuri
NOT ES TO BASIC FINANCIAL STATEMENTS
lune 30, 2007
NOTE: F, - LONCATRM OBLIGATIONS - Continued
., During the fiscal year ended Jute 30, 2001, certain bonds originally issued by the State EnN ronnsnial
IntpinvcmenI and l aicrgy Resources Authori ty 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 sen ice
payntcnts ducon SCIIeS 1996 Bonds. Dunne the fiscal year ended June 30, 2007, City interest expense teas
reduced by S 10,159 as a result of this transaction. Over the remaining Iilc of these bonds, the Cit_v will
Icccive nct present value benefits of appro.ciIII atel y $161,899 Gom this transaction.
S 8.080.000 Scwcra^c SvstcIII Revenue Boa (Is _(SLite Revoh hte Pund Program) Series 2000 due as
follows
Ycar Ending Interest Principal Interest
Iunc30 Rate Due Due Total
2008
4500'i,
S 1300(16
$ 432,730
$ 562,730
2009
4.600
145,000
426,470
571,470
2010
4.625
165,000
419,319
584,319
2011
4.700
185,000
411,156
596,156
'_012
5500
215,000
400,896
615,896
2013
5.500
230,000
388,659
618,659
2014
5.000
250,000
370,084
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
1019
5.400
1,590,000
222,22S
1,812,228
2020
5.450
1,655,000
134,199
1,789,199
2021
5.500
-1'6'0'000
44,550
1660 550
SS,0$0000
S4,552,220
$_l 642,2'_0
These bonds are dated Noveutber 1, 2000. the proceeds of the bond issue will be used to extend and
improve the existing sewerage facilities sening the City.
Principal payntcnts arc made annually on Iuly I, and interest payntcnts arc made Senti-annually on luly I
and January 1.
50
_ City of Cape Girardeau, Missouri
AOTES'l 0 BASIC FINANCIAL STAT F.MFN'l S
Junc 30. 2007
NOTE, F, - LONG-TERNI OBLIGATIONS - Continued
,. The intcrest duc on the Series 20(10.. Sewer System Rcv'anne Bonds is subsidized by interest earninLs on u
reserve fund held bythebond issue'saustec. Asthe City is reimbursed for sewer project expendituresliom
the construction funds held by the trustee, the State of Missowi Department of Natural Resources deposits
an amount equal to approx i nmtely 70%, of the reimbursement into the restive fund. The maxinmm anwunt
of funds that (mill be advanced to the reser%e fund will be .$5,848,500. As bonds are retired 70",6 of tilt
amount ofhonds retired mill he repaid to the State of Missouri Department of Natural Resources out of the
reserve fund. The halance of the reserve fund at JLnle 30, 2007 was $5.335,675. Thu reserve fund viclds
5.16%.
519480.000 Waterworks System Rcvcnue Bonds (State RevohinR Fund Pro_ram) Series 1998 due as
follows:
(hese bonds arc dated December 1, 1998. 'file proceeds of the bond issue will be used for the extension
and improvements to the Neaterworks system.
Principal payments arc made annually on Ianuapv 1. Intel est is paid semi-annually on JarmanI and Jul% 1
bc_ oiling on July 1, 1999.
51
1'cat Ending
Interest
Principal
IMCI 'Cst
Junc3tl,
Rate
Duc
Due
Total
2005
4200%
S I,(100,000
S 952,475
S 1952,475
2009
4300
1,025,000
910,475
1,935,475
2010
4.375
1,(18(1,000
866,400
1,946,400
2011
5250
1,110,000
819,150
1,929,150
2012
5.250
1215,000
700,875
1975,875
2013
5.250
1,300,000
697,(187
1,997,057
2014
5.250
2,350,000
628,838
2,978,538
2015
5.250
2,445,000
505,462
2,950,462
2016
5.250
2,550,000
377,100
2,927,100
2017
4.500
2,055,000
243,225
2,898,225
2018
4.500
2,750.000
123.750
2,873,750
519,480.900
$6,884,837
$26,364,837
(hese bonds arc dated December 1, 1998. 'file proceeds of the bond issue will be used for the extension
and improvements to the Neaterworks system.
Principal payments arc made annually on Ianuapv 1. Intel est is paid semi-annually on JarmanI and Jul% 1
bc_ oiling on July 1, 1999.
51
City of -Cape Girardeau, Y11ssouri
NO] FS TO BASIC FINANCIAL S I ATE MhN"I S
June 30,'_007
NOTE E - LONG-TERD7 OBLIGATIONS - Continued
The interest due on the Serics 1998 Waterworks System Revenue Bonds is subsidized by interest ea min's
on a resen c fund held by the bond issues u-ustee. As the City is reimbursed for waterworks system
expenditures from the construction funds, the Department ofNatural Resources deposits an amount equal to
33.41 % of the disbursement into the reserve fund. 1'hc maximum amount of funds that ezIII be advanced to
the reserve w ill be 58,517235. As bonds are paid off, 33.4 V., of the amount ofhonds retired x+ ill he repaid
to the Department ofNatural Resources out ofthe reserve fund. The balance ofthe reserve fund atJLine 30,
2007 was S5.514.OS S. The reserve fund yields 4J 1
' S141.000 CityofCape Glrardea11, Missouri Lease Purchase Aerccincnt dated.lunc17 1999due as follow s:
Year Ending hire]est Principal Lttcrest
.11111030 Rate Due Duc Total
2008 5.0001% S 33.000 S 7,050 S 40,050
2009 3.000 34,000 5,400 39,400
2010 5.000 36,000 3,700 39.700
2011 5.000 38,000 I J00 19,900
$141000 J1 8 050 $159,450
The lease a gr cement i s l he obl i eati on of the Ci ty of Cape Gi I ardeau,Missouri. Principal and imerest Nr ill
be paid by the Cily from proceeds of the site lease and the lease agrccmcnl. The purpose of the Icasc
sv regiment was to (1) rehabilitate and otheneise improve the A. C. Blase Arena Building and (2) acquire ❑
building at the Cape Girardeau Regional Airport (mown as the "Lipp's llam_ar'.
Principal payments are made anuuallyon April L and interest payments are made semi-annually on April 1
and October 1.
52
City of Cape iii aid cau, Missouri
NCI LS'10 BASIC FINANCIAL STATGMFNTS
June 30, 2007
NOTE, E- LONG-TERM OBIAGA'HONS - Continued
53
$2,490.000 Certificates of Participation
Series 2001:
Year Ending
Interest
Principal
Interest
Linc 30,
Rate
Due
Due
Total
2008
4.50%
S 125,000
S 140,940
S 265,940
2009
4.625
150.000
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
200,760
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
265.300
2018
6.000
21 (000
53.300
263.360
2019
6.000
225-000
41,180
266.180
2020
6.000
235,000
28,130
263,130
2021
6.000
2500)0
14,500
264,500
$2490,000
$1,214,423
$3,704,423
The eel ti ficates at obligations
of the City under it Lease Purchase
Agreement
bet" cell the City and GA1B
Bank, NA. The Corporation
also acts as the
trustee who receives
the rental payments
for the bcneGt of the
certificate holders. The pwpose
of the
2001 Senes certificates
was to construct
and equip an airport
manufacturing facilitY-
Principal pulmients arc made
annually on
.April 1, and imcrest
payments araanadc
semi-appuallyon April l
and October I.
53
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2007
NOTE E - LONG-TFRN7 OBLIGATIONS - Continued
..
S7,000.000 Special Obligation Bonds. Scries 2005.
Principal pavments arc made annually on 1 une 1, and interest payments are made scuti-aunually ou JLnC 1
and December 1.
ht May 2005, the City of Cape Gi mrdcau issued 58,190,000 of Special Oblo-muon Bonds Series 2005 tt i th
interest rates varying Bom 3'55 to 5%. 'Ihc bonds arc special obligations of the City payable solely 6om
the revenues dem ed from annual appropriations by the CigCouncil.
The bonds wcrc issued by the City for the purpose of providing funds to (a) construct, furnish, znd equip a
new fire station, renovate and improve existing fire and police stations. reimburse the ON' for the
purchase of a nets, public works facility, and acquire cchicles for the police and fire departments. (b)
... ref nance various outstanding obligations of the Cily. (c) fund a debt service reserve find forlhe Bonds,
and (d) pay the costs of issuing the Bands, under the aulhonly of and in full compliance with the City's
Charmrand the Constitution and laths ofthe State of MISSOWI, and pursuant to an ordinance duh' passed
and procecdi n gs duly and legally had by the governing body of the City.
54
Ycar Ending
Interest
Principal
Interest
June 30,
Rale
Duc
Duc
"Dotal
2008
3.500'%
S 630.000
S 276.286
$ 906,280
2009
3.500
635,000
254,236
889,236
2010
3.500
645,000
232,011
877,011
2011
3,500
655,000
209,436
864,436
'
2012
3500
080,000
186,511
866,511
2013
3.625
700,000
162,711
862,711
2014
4.000
690.000
137336
827.336
2015
5.000
1,245,000
109,736
1,354,736
2016
4.000
80,000
47,486
127,486
2017
4.000
85,000
44,286
129,256
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.S0
100,000
29,494
129,494
2022
4?50
10509)
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
S_ 7,000,000
$ 1,874,029
58.874,029
Principal pavments arc made annually on 1 une 1, and interest payments are made scuti-aunually ou JLnC 1
and December 1.
ht May 2005, the City of Cape Gi mrdcau issued 58,190,000 of Special Oblo-muon Bonds Series 2005 tt i th
interest rates varying Bom 3'55 to 5%. 'Ihc bonds arc special obligations of the City payable solely 6om
the revenues dem ed from annual appropriations by the CigCouncil.
The bonds wcrc issued by the City for the purpose of providing funds to (a) construct, furnish, znd equip a
new fire station, renovate and improve existing fire and police stations. reimburse the ON' for the
purchase of a nets, public works facility, and acquire cchicles for the police and fire departments. (b)
... ref nance various outstanding obligations of the Cily. (c) fund a debt service reserve find forlhe Bonds,
and (d) pay the costs of issuing the Bands, under the aulhonly of and in full compliance with the City's
Charmrand the Constitution and laths ofthe State of MISSOWI, and pursuant to an ordinance duh' passed
and procecdi n gs duly and legally had by the governing body of the City.
54
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2007
NOTE E - LONG-TERINI OBLIGATIONS - Continued
The outstanding bond liability for the Special Obligation Bonds Series 2005 is reflected in the
Governmental activities.
$ I.S50.000 Bank of America 2006 Promissory Note:
'
Year Ending
Interest
Principal
Interest
June30,
Rate
Due
Due
Total
1_008
3.63%
S 50.000
S 37.190
S 87,190
2009
3.63
100,000
64,604
164,604
2010
3.63
100,000
60,795
160,795
2011
3.03
100,000
57,165
157,165
2012
3.6.3
100,000
53,535
153,535
2013
3.63
100,000
50,044
150,044
2014
3.63
100,000
46,275
146,275
2019
3-63
100,000
42,645
142,645
2016
3.63
100,000
39,015
139,015
2017
3.63
100,000
35,454
135,484
2018
3.63
100,000
31,755
131-755
2019
3.63
100,000
28,125
125,125
2020
3.63
100,000
24,495
124,495
2021
3.63
100.000
20.925
120.935
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
6345
106,345
2026
3.63
100.000
2,715
102.715
$_ 1,850,000
$ 641 954
$_'_491,9)54
Principal payments are made semi-annually oil .Ianuary 1 and July I.
On February 9, 2006, the City of Cape Girardeau entered into a promissory note with the Bank ofAmerica
for $2000,000. The puipose of the note was to fmance additional costs on constructing fire station
purchase or a site for a fIl1W'e lire station, equipment far the sewer and solid xcasre funds, and sit:
improvements at the new public works headquarter. Tho oulstauding liability for the note is allocated al
billows: 51,336,625 for ovcmincrual activities and $513 175 for business -type actiailies.
55
56
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL ST:ATPOENTS
June 30, 2007
NOTE E - LONG-TERM OBLIGATIONS - Continued
The annual reyuiremcnts to amortize all debt outslandin', as of .lune
30, 2007 including
total interest
payments of 528,580,020 arc as follows:
Special Leasehold Certificates
Ycar 8ndinu Obli_ation Revenuc Revenuc of
promissory
June 10, Bonds Ronds Bonds Participation
Note
Total
2008 S 1,301,191 5 7,066,841 S 40,050 $ 265,940
S 87,190
$ 8,761?12
2009 1,278,616 7,788,738 39,400 265,253
164,604
5936,611
2010 1,242,141 6,810,020 39,700 264?40
160,795
8,516,896
20111,035,091 6,110,407 39,900 262,760
157, 765
7,605,323
2012 1,030,966 6,144,343 - 265,760
153,535
7,594.604
2013 1.02Q888 6,831,876 - 266,760
150,044
8,269.568
2014 827,336 6,002,990 - 262,160
146,275
7,238,761
20li 1,354,736 5,773,795 - 262,260
142,645
7,5..3,436
2016 127,486 5,841881 - 266,760
139,015
6376,142
2017 129 2S6 5,827,232 - 265,360
135,484
6,357162
2015 13QSS6 4,802,233 - 263,360
131,755
5328214
2019 127,196 2,S-14, 103 - 266,180
128,125
3,355,664
2020 125,484 1,789,199 - 263,130
124,495
?,305,i08
2021 129,494 1,664,550 - 264,500
120,925
11 `9,409
2022 130,244 - - -
1 17 235
247.479
2023 13M81 - - -
113.603
244.353
2024 130,969 - - -
110,005
240,974
2025 260,940 - - -
106,345
367'85
2026 - - - -
102,715
102,715
$10,516,731 574,689,265 $159.05(1 $3,704,423
53.491954
S 91,561,426
[lie cash and investments available to scrvicc revcnuc bonds are
5989,573 and S6,798,193
for the
goaernmental and business -type activities, respect i vcly.
The cesh and investments ON ailahle to seticc the special obligation bonds
and certi hcates
ofpartieipution
in governmental activities arc 5640 262 and $275,357, respectively.
Included in husiness-tvpe activities restricted cash and invcstntents on the statement
of net resets is
S536,445, which is the balance in the 2000 sewer project account which
represent incomplete
projects at
,lune 3Q 2007. If the project funds arc not used, the remaining balance
can he applied
against debt.
56
City of Colic Girardeau, Missouri
NOTES TO BASIC FINANCIAL Sl'.A IFMENTS
.lune 30, 2007
NOTE F, - LONG-TERM OBLIGATIONS - Continued
Interest expense was charged to functions as follows in the Statement of Activities:
Governmental Activitics:
Into ost and Othcr Costs 51,362218
Total S 1,362,218
Business--ILVpc Act-it-s.
Goll Coursc $ 10,409
Sewer 64.3,554
Softball Complex 6,527
Solid Waste 44,353
b4'ater 303.734
'I otal $1,216,877
Missouri statutes limit the amotmt of general obli�ation debt that a cit}can issue to lice percent of the total
assessed value oftaxable property located within that city's boundaries. The l cgal debt margin for the Ci ly
of Cape Girardeau is 52,605,154.
NOTE, F- DEFICIT FUND BALANCES/RETAINED EARN]NGS
the Softball Complex Fund's and the Fringe Rencht Intcinal Service Fund's total liabilities exceeded their
total assets by $135,250 and 5539,299 respectively.
57
City of Cape Girardeau, ,Missouri
NOTES '10 BASK FINANCIAL STATEMENTS
June 30, 2007
NO IT G - PENSION PLAN
1. Plan Description
The CAN of Cape Girardeau participates in the Missouri Local Government Employees Retirement System
(LAGERS), an agent ntill iple-cmploya public employee retirement system that acts as a common
investment and administrative agent lar local government entities in Missouri.
LAGERS is a defined bcncGl pension plan which provides retirement, disability, and death benclits 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
intentofthc General Assembly. The plan is qualified under the Internal Raenuc Code Section 401 a and it
is Lu exempt.
e The Missouri Local Government Employees Retirement System issues a publicly available financial report
thatincludesfinancialstatcmentsandrequiredsupplementaryinfomiution. Thatreportmuybeobtainedby
writing to LAGERS, PO Box 1665, Jefferson City. MO 65102m by calling 1-800-447-4334.
2. Eundina_ Police
The City of Cape Ghardcaa'S full-time cmployccs do not coun-ibute to the pension plan. The political
subdivision is rcquircd to contnibutc at an actuanally determined rate; the current rate is 7J `!b (general),
6.0"b (police), and 133'i„ ( f rc) of annual co%ci ed payroll. The contribute on rcquircmcnts of plan members
are determined by the governing body of the political subdivision. The contribution provisions of the
political subdivision are establ ishcd by state statute.
3. Annual Pension Cost
For 2007, the political subdivision's annual pension cost ofS1.065,567 was equal to tthc rcquircd and actual
contributions. Thcrcquired contribution wasdetermined as part ofthe February28, 2005 annual actuarial
valuation using the entry age actuarial cost method. The actuarial assumptions included (a) a rate of return
on the investment of present and future assets of 7.517, peryear, compounded annually, (b) projected salary
increases of4.0'7, per year, compounded annually, attributable to inflation, (c) additional projected salary
increases lunging flour 0.0'% to 6.0°G, per year, depending on age and division, attributable to
senioritvhnerit, (d) pre -retirement mortality based on the RP -2000 Combined Ilealthy "table set back 0
,vcarsfor mem and 0 Nems for women, and (e) posbrctircmeur mortality based on the 1971 Group Annuity
Mortality table projected to 2000 set back I year for men and 7 years for women. The actumial value of
usscls was determined using techniques that smooth the voters ofshort-term volatilih in the market value
of imesmscros over a 111%,war period The unfunded actuarial accrued liability is being amortized as a
Icvcl percentage of projected pavroll on an open basis. The amortization period al February 28, 2005 was
15 years.
58
Note: The above as's'ets and actuarial accrued liability do not include the assets and present value of
benefits associated with the Benefit Reserve Fund and the Casually Reserve Fund. "hhe actuarial
assumptions were changed in conjunction with the February 25, 2006 annual actuarial valuations. For a
complete description of the actuarial assumptiotls used in the annual valuations, please contact the
LAGERS office in Jefferson City.
NOTE H - INTEREST EXPENSE
hilel est and handling charges, totaling $1,322,766, excluding S6,216 of interfund interest, was incwred by
governmental funds during the year ended lune 30, 2007. Interest and handling charges, totaling
51,182,946, excluding S54,880 of interfund interest, was incurred by proprietary funds during the year
ended .lune 30, 2007. No interest cost was capitalized as part of the cost of assets constructed during the
period.
NOTE 1 - INTERFGNH ACTIVITY
A. The following is a summary of interfund balances as ofJune 30, 3007:
Advance ta/from other funds:
V .,,,"f om Ad,^anm,I�
Gmm,dIund S L10Q377 y -
Solid ARear Fund - 620,000
Goll Coupe Pond - 290,477
tori tr,al Fund 190,000
51,100,477 5 1,100077
The interfund balances Zile a result of advances to purchase capital assets and to pay foropennine expenses.
Repayments are nmde as cash flows pemnt. If cash flows are not sufficient repayments are deferred to
subscqucnt Vcars.
59
City of Cape Girardeau, Missouri
NOTES TO R.ASIC FINANCTAL STATEMENTS
June 30, 2007
NOTE G - PENSION
PLAN - Continued
Three -Year Trend Infortnzlion
Fiscal
Annual Percentage
Net
Year
Pension Of
Pension
Eliding
Cost _(APC) Contributed
Oblieation
06/30/05
S 543,223 100%
S0
06/30/06
S 961,342 100%
'SO
06'30/07
$1,065,567 100%
SO
Note: The above as's'ets and actuarial accrued liability do not include the assets and present value of
benefits associated with the Benefit Reserve Fund and the Casually Reserve Fund. "hhe actuarial
assumptions were changed in conjunction with the February 25, 2006 annual actuarial valuations. For a
complete description of the actuarial assumptiotls used in the annual valuations, please contact the
LAGERS office in Jefferson City.
NOTE H - INTEREST EXPENSE
hilel est and handling charges, totaling $1,322,766, excluding S6,216 of interfund interest, was incwred by
governmental funds during the year ended lune 30, 2007. Interest and handling charges, totaling
51,182,946, excluding S54,880 of interfund interest, was incurred by proprietary funds during the year
ended .lune 30, 2007. No interest cost was capitalized as part of the cost of assets constructed during the
period.
NOTE 1 - INTERFGNH ACTIVITY
A. The following is a summary of interfund balances as ofJune 30, 3007:
Advance ta/from other funds:
V .,,,"f om Ad,^anm,I�
Gmm,dIund S L10Q377 y -
Solid ARear Fund - 620,000
Goll Coupe Pond - 290,477
tori tr,al Fund 190,000
51,100,477 5 1,100077
The interfund balances Zile a result of advances to purchase capital assets and to pay foropennine expenses.
Repayments are nmde as cash flows pemnt. If cash flows are not sufficient repayments are deferred to
subscqucnt Vcars.
59
City of Cape Glrardean, Missouri
-NO "I LS l'O BASIC h7NANCIAL SI A fEMf.NTS
June 30, 2007
NOTE
1 - IM ERFUND ACI'IY17Y - Continued
'fhe City
males transfers behveen various funds for routine
and
normal operating
expenses
and for capital
asset
requisitions.
B.
'flee following is a summary of interfond 0-ansfers
for
the year ended
June 30.
3007:
Fund
'fransfct
From
l7unacr
To
Gcncml Pund 5
J '08.111
S
1.375151
Airport Pund
11,000
635-175
Pork vnd Rt ,, lon
-
131
S40
V..von 3000 Fund
-
1,000
Housing Derelopnent Pund
I I.
t S6
I lcuhh I I'd
20,000
-
Nf.wi Fud Taz Pund
1.141,800
-
enpiml Inprocement Soles Tax -
RufcrS,m lnprovcncnts
617,7S3
103,763
Cupiwl Inproccnn-ni Sulo Tax -
ScwerSystemllnprovcmems
3,155,81?
-
h, c SnleS T,, F.nd
],139.55'-
-
I'uhllcSalMVTrus11'und
1064.916
3,139.riv
Trencporlulinn Sal6lux Trua Fund 111
-'15
f10o
Debi Sery ice Fund
-
IS^.000
Snw lmproccmcnls Pund
-
96,800
I All Pi jcds Fund
11,000
-
CommunifvDnelopmcnl Block
G, nm Pro,lttf Fund
-
24,49,
M ier Svdcm Imprcccmcnt
Proicclx Fund
101,70
—2.783
SCNrelPund
-
3,153.515
11'wcrFund
-
39iP00
Golf Coursc Pund
-
93A04
SlAball Conplcx Pund
-
3`1
246
Him Mnnnpcmrnt Pund
198613
4f6I1
60
61
City of Capc Glrardc8n, Missouri
NOTES TO BASIC FINANCIAL
SI'ATE'MEN"I'S
June 30,'_007
NOTE J - SEGMENT
INFORMA170N
FOR
EN" FERPRISE FUNDS
..
'1'11c City maintains Ilvc
cntaprisc
funds which
picoidc scvacr,
vaatcr, solid
vrastc.. 1,olC,
and soffi)Al
complcs scl'Vlces. Sel�nmcnt
1111ormatlon
lol the }'GiC
Cndcd Jllne
��, "_'007 Was
NS tollo%tis:
..
A�Iltr,il I
Scucr
Wulcr
Solid AA'ucic
(dn11(oursc
(nmplcs
lb)ul
pond
Rmd
funJ
Iind
Fund
F,mJnidc
Opcniing rn'numc
S'_,701011
$560260)
$3;)361940
5 471176
$ 114480
$11, t10111'_
Dcproiulion
2,569,W
1934,116
162,053
5S 71()
<914
4,131,115
+
Oprrmm, l nmme lLoss)
('_,2413411
1'_8,760
(19.776)
(118,547)
1316,264)
(1169 17111
OperM lnp h'unsln's in
'_,Iv,6IS
i)54ID0
-
9104
'1246
3,964,Mc
No lnvomc [Lncq
441,654
1391,'10
II1,11
O (,171
'_6,410
"0;1,501
Curran (11u1 (bmributione
N94,744
1,143='))
-
1,910
'_,070,166
Pn,p..t , PL"" und 64upmanl
Udihon>
6,514,'31
1496399
311k85
5,950
11,131
i,664,10>
Dcic)iuns
6002011
574.1:4
37(1.141
'_S'_009
46,SO4
.Act Working Cuprtal
11,311,71')
'_,029.65'
I00S,403
7,041
5,[11
176�,476
1lne]Asens
61.553,9'-1
4"31,754
94'9,909
147,404
119498
110_1814S6
Bonds unJ 01hcrLong-7ciii
Llandmce 1':roL,h10 1Tom
Opox,,,p l2cmnucr
30,181A07
64'_1)101)
353.106
-
-
160Si=;1
I .Ld N" Asea
$30071,766
$5634353
SLI
S 907
S 1I"51))
61
62
City of Cape Girardeau,
Missouri
NOTES TO BASIC FINANCIAL
STATEMENTS
.lune 10,3007
NOTFK - RESERVATION OF FOND EQUITY
..
AI June 30, 2007, the Cite had reserved its liuxl equity as follows:
General Fund
Rcscrvcd for emergency fund
53,516,052
Rrscmed forprepaid items
96,541
Reserved lis advance
1,100,177
i
Reserved for mausoleum maintenance
95.150
Reserved for local access channel
36,570
Reserved for encumbrances
96.366
S4 941,_156
Airport Fund
Rcscrved for prepaid items
S 138,333
Reserved fm' encumbrances
39.653
S_. 10£_,00
Parks and Recreation Fund
Rcscrved forprepaid items
S 3,3,5
Rcscrvcd for opciations and maintenance
22,493
Reserved for cnaimbrances
3,268
$ 39,096
transportation Sales I Sz frust Fund 11
Rcscrved for encumbrances
$--30,5,2S7
Transportation Sales Taa Trust Fund III
Rcscrvcd for CnCLImbl:meCS
$ 531,700
Other Governmental Funds
Resened for cncumbranccs
S 659.754
Rcscrrcd for cmci�cncics
901.077
Reserved forprepaid items
243,230
Rcscrvcd for debt sun ice
250,042
Rvsencd for ri ccrcampus
146.898
$2.200.391
62
City of Cape Girardeau, Missouri
NOTES TO 13ASIC FINANCIAL STAT EMFNTS
lune 30, 2007
NOTE L - RESERVED RETAINED EARNINGS .AND RESTRICTED ASSET ACCOUN'T'S
At lune 30, 2007,
the City has restricted assets in its Proprietary Funds as follows:
Dcprcci al iuu
Rcccuuc Boud
And
Bond
Sinkin¢and
Rcalnccmcn�
Cpnelmcaon
Rcscnc Rod
I m'd
Sc,e, Pund
S 127.000
S 236.3,61
$4.916,683
$?.600,046
\Yater fund
1.060.000
1.757
ks16,0i9
2,899,8-16
Solid APast, Fund
3,427
_ 910
4.327
51,187000
5.143,575
$6,773,674
SS,304249
NOTE M - LANDFILL CLOSURE; AND POSE CLOSURE CARE COST
State and federal laws and regulations require the City to place a final cover on its landfill lehen closed and
perform certain nimi tenance and monitoring functions at the landfill site for thil7yy0ars after closes C. "I'hc
City closed its landfill in the fiscal year ending June 30, 1994, and an expense provision and related liability
\% are recognized at that time based on the future closure and postclosure care costs that w Ce estimated to he
incuned near or after the date the landfill no loner accepted waste. The entire amount of the estimated
total costs for landfill closure and postclosure care costs v1 as recognized in prior years since the iccognition
is based on landfill capacity used to date and the landfill was filled to capacity in plioryeals. The cslinmtcd
total future liability for landfill postclosure care costs is $08.000 as oflune 301007, which is based on the
amount that would be paid ifall equipment, facilities. and sen ices required to close, monitor, and maintain
the landfill were acquired as oUune 10, 2007. However, the actual costofclosure and postclosure eaic may
be higher due to inflation, chanes in technology, of than pes in landfill laws and regulations.
the City has used the option of a Contract of Oblieatiou as the financial assurance instrument for the
landfill.'fhe City issued bonds in Octobci 1994 from Much the pioccuds were used to pay the closure costs.
03
City of Cape Girardeau, Missouri
NOTES 10 BASIC FINANCIAL STATEMENTS
Junc 30, 2007
NOPE N - RISK MANACENIEN'P
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets;
cn-ots and omissions; natural disasters and employee health benefits. These risks, with the exception of
those discussed in the following paragraphs, arccoveled by commercial insurance. Settled claims ince not
exceeded this conuncrcial coverage in any of the past ten fiscal veers.
The City is a member ofthe Missouri Public Enlily Risk Management Fund, a not -tor -profit public entity
insurance pool established by the state legislalwe. Through chis pool, the City n;ccives coverage for general
liability, las+ enforcement liability, errors and omissions, and employee bencfa liability. Risks for these
coverages are spread across members of the fund. Cwrently the fund is comprised of999 Missouri counties
municipalities, and special districts. Piemiums Cor these coverages are actuarially determined based oil
actual claims of the pool and individual claims of the City. Each ,year, portions of premiums not required
because of below expected claimsare returned to the members. The Cityhas recened refundsofpremiums
in each of the last len wars and has used them to offset the cost of the succeeding year's premiums.
Vehicle loss and accident liability is carried by Savers Properly and Casualty Insurance. Itis rated -B i
by A.M. Best.
The City has established self-insurance plans for employees' health insurance and workmen's
compensation. Both of these are accounted for using internal service funds. Ceder tach plan, the City is
substantially self-insured and uses an administrator to handle claims management.
.. The City provided health coverage to its employees through a minimm upremium 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 aggrclgatc
stop loss coverage. The City reimbursed the administrator for claims paid up to the specific stop loss
amount of $125,000 and $135,000 annually per employee and up to the aggregate stop Toss amount of
approximately $2,000.000 and $2,400,000 annually beginning January 1, 2006 and 2007, respcctively, for
all employees. These limits apply only to claims ntade during the respective calendar years. Rates were
charged by the internal service fund to the other City funds to coati the monthly premium to the
administrator and claims up to the aggregate stop loss amount.
CorpoIZile CI aims Management,Inc. administers the Cilv's workmat's compensation plan. Under this plan,
tileC'.i ty pays the administrator a per claim fee to administer its claims. All claims are paid directly by the
City. The City has purchased insurance coverage from Safety National Casually Corp. that limits the
maximum individual claims to $350000 and $400,000, for regular cmployccs and police and 1110
cmployccs. respcctively. Additionally, $511001,000 in cowrnge is provided for annual claims in CYCCSS of
S1.230.470. Rates are charecd 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.
04
NOTE O - CONCENTRATION OF CREDIT RISK/BAD DEBT ALLOWANCE
The City has uncolletcralized utility accounts receivable generated within a limited gco,naphical region
primarily consisting of its City limits. 11k ( ity also has taxes, special assessments, and user fees rcceivahle
sshich arc concenlialed nniong its citizens. Some of these items attach as liens aeainst all and personal
properly. 'Ihe maximum accounting loss is the amount sheen as utilih chat ecs receivable on the Stammcnt
of NcLAssets.
At Junc 30, 2007, utility rcum abler totaled $1,602,034. On the financial statcntcnls, the utility receivables
areshoson net of the allowance for doubtl til accounts of$L38,986, This results iu act utility receivable of
y 57,463,045. During the year ended Junc 30, 2007, the allowance seas increased by $83,303 or
apprommatch77;T of the current year's utility chanes and :.ccouIts (,(alis $81,078 were a ripen of
05
City of Cape Girardeau, Missouri
NO I FS'l
O 13ASIC FINANCIAL
S I ATEMENTS
June 30, 2007
NOTE N - RISK NIAN.AGEMEN'F
- Continued
..
Claims liability is estimated using
data supplied bythe administrator.
The claims
activity during the last
FIN C ycaIs is Sit III III ,I[ vel as follows:
CLAMS
LIABILITIES RECON( ILIA'IION
I{calth
Workcrs'
hssurance
Compensation
Total
Balance June 30, 2002
$ 135,000
S 294,027
$ 419,027
Provision for Incurred Claims
1,632,710
215,620
1,851,330
Payments of Claims
0073.710)
_126925(
(LS42,960)
I3alancc Junc 30, 2003
S 154,000
S 243,397
S 427,397
Provision for IncmTed Claims
1,997.671
528.506
2,526,177
Pavnsnts of Claims
(I851,671>
14I6.903)
(?.?68,574)
_
Balancc.hme 30. 2004
S 330,000
S 355,000
S 685,000
Provision for Inclined Claims
1,761,942
526,837
2,288,71 79
Pa}anenl of Claims
(1.916,942)
_ (346$37)
(2.263.779)
Balance June30, 2005
$ 175,000
S 535,000
$ 710,000
Provision for Incurred Claims
1,400.142
548,809
3,948,951
Payment ,(Claims
(2.065,042)
(378.809)
(2444.45
Balance Junc 30, 2000
S 509,500
S 705.000
S 1214,500
Provision for Incurred Claims
2,520,411
517,676
3,038,057
Payment ofClaims
(2 ',S4 101)
(552.676)
(21936,537)
Balance Junc 30, 2007
$ 645,750
S 6701000
S h15750
NOTE O - CONCENTRATION OF CREDIT RISK/BAD DEBT ALLOWANCE
The City has uncolletcralized utility accounts receivable generated within a limited gco,naphical region
primarily consisting of its City limits. 11k ( ity also has taxes, special assessments, and user fees rcceivahle
sshich arc concenlialed nniong its citizens. Some of these items attach as liens aeainst all and personal
properly. 'Ihe maximum accounting loss is the amount sheen as utilih chat ecs receivable on the Stammcnt
of NcLAssets.
At Junc 30, 2007, utility rcum abler totaled $1,602,034. On the financial statcntcnls, the utility receivables
areshoson net of the allowance for doubtl til accounts of$L38,986, This results iu act utility receivable of
y 57,463,045. During the year ended Junc 30, 2007, the allowance seas increased by $83,303 or
apprommatch77;T of the current year's utility chanes and :.ccouIts (,(alis $81,078 were a ripen of
05
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2007
NOTE P- CODI)1ITbIENTS AND CONTINGENCIES
1. Litigation
V arious clai ms and ]mvsui is arc pending against the City. In the opinion of C i ly management, the potential
loss on all claims and Imvsuits will not be significant to lire City's financial statements.
? Giant Audit
The Citv receives Federal and State Grants for specific purposes that are subject to I`CN ICV% and audit b)
various Federal and State agencies. Such audits could result in a request for rei mbursancnt by any of the
Federal and State agencies for expenditures disallowed under the terms and conditions of the appropriate
agmicy. In the opinion of City management, such disallowances, if any, will not be sigiificant.
3. Construction Commitments
As of lune 30,'_007. the City had construction comm i tin ends outstanding of 5721,604. The construction
commitments represent incomplete portions of contracts entered into to consn-uct the following: various
strcct and parking lot projects, improvements at Fire Stations # I, #2, and 93, street lights, the restoration of
the Old Historic Mississippi Biidge, water improvements, and storm water improvements ai Siker Sprim_s
and Themis. 'fhcsc contracts are expected to be completed within the next fiscal year.
4. Encumbrances
As of June 30, 2007, the City had encumbrances outstanding of SI,S37,275.
NOTE Q — PRIOR PERIOD ADJ USTNIENI'S
Ihe(S35SS9.31) prior period adjustment on the GoN,cmmcninl Fund Statement of Roi CnneS, Expenditures,
and Changes in Fund Balance reflects grant revenue recognised in precious years based on expenditures
.. that were determined to be unallowable this year. 'fire 577.313.146.64 prior period adjustment in the
Govamnsntal Aclirgics section of the Statement of Activities reflect the above prior period adjustment
phasthcfollowing ilcros:(1)(S539,944.15)1or removal ofgoccrnmcntal assets previously capitalizedthat
do not rout the City's cut7an capitalization threshold (2) (5716,150.44) for ionic al of intcmal semcc
assets preciously capitalized that do not uuet the City's current capitalization threshold constnuction (3)
(S79A65.2S) for preliminary, project costs set all LIS ttmstruGion in progress in a precious year that \sas
abandoned this Near (4) S-5,026 295.55 let capiaslization of the July 1, 2006 depreciated value of Cite
infrastructure not precious capitalized.
60
City of Cape Girardeau, MissomLi
NOTES 10 13ASIC FINANCIAL STATEMENTS
.June 30, 2007
NOTE Q—PRIOR PERIOD ADJUSTMENTS -continued
The S(530,57359) prior period adjustment in the Business -type Activities section of the Statement of
Activities rcllect S(525,241.40) forremoval ofcnte(prise assetspreviously capitalized that do not meet the
City's current capitalization threshold and S(5,332.19) for preliminary project costs set up as constriction in
progress in the sewer fund in a previous year that was abandoned this year.
NOTE R - CONTINGENCY
I. In .Ione 2004, the City of Cape Girardcau and Cape Girardcau County entered into a dcvclopmcnt
a.,eement with a local business. Under the agreement, the local business agreed to pay fm-cenain
_ public improvements inemTed in conjunction with the construction ofanew retail facilih and the
Citv and County agreed to reimburse the local business for the cost of these improvements up to a
maximum of 54,000.000 over an estimated 15 years. "fhe local business has completed these
improvements with a total cost of 52,668,646. The City is rcquircd by the dcvclopmcnt agreement
to roimbulse the local business for $2,134,917 of these costs through scheduled quanta ly pa}nmen(s
over the next fifteen years from available rcvcnucs. Available rcvcnucs are defined in the
development agreement as 75'% of the City's quarfcrly not rcvcnucs from specific sales taxes
generated by the business operations of the new retail facility afiich cxcecd $64,000. The tales of
the specified sales taxes currently equal 2%. Sales taxes with rates cui-rcntly equal to 1 °/,will expire
during the tcm� ofihis agreement. The Cily will be rcquircd to substitute rcvernmcs for sales taxes
kith equivalent rates, if available, when the specific salts taxes expire.
Required quarterly payments increase annually per the repayment schedule included in the
dcvclopmcnt agrccmcnt.'fo Uhc extent that the available rcvcnucs for any quarter arc Icss than the
rcquircd quarterly payment due, the unpaid amount will be added to the next scheduled guar(crN
amount due without penalties. Any amounts unpaid at the end of 15 years will be payable quarterly
from available rcvcnucs for the remainder of the agreement Any amomns unpaid at the end of the
agreement will riot be rcquircd to bepaid. Tho term of the developer agrecnsnt is 20 years from the
cxecutiou of the aarcensnt.
During the fiscal veer ended Junc 30, 2007, the City paid S25,346 under the dcvclopmcnt
a«cement. This amount is included in the Dee elopment Sen ices expenses on the Statement of
ActniliCs.
2, In June 2004, the Cinof Cape Girardcau and Cape Girardcau Comriy entered into a dcvclopmcnt
aarccnsntwith a local rurl estalodceelopci L'nclettheagrocmcnt, the local developer agreed to pay
forcertain public improvements incurred in conjunction r+ith the devolopment of a 60 acre retail
development and the City and County agreed to rcimbmse the local business for the cost of thcsc
improvements from mailable net sales tax reccnue generated from any businesses operations
located in the dcvclopmcnt.
67
City of Cape Girardeau, Missouri
NOTES TO 13ASIC FINANCIAL STATEMENTS
June 30, 2007
NOTE R - CONTINGENCY - Continued
The local developer has completed these improvements with a total cost of $2,995,434. The City
County are required by the development agreement to reimburse the developer for these costs
and
plus 4'%. interest with quarterly payments Gont available revenue. Available revenue is defined by
the a�n ecment as all the net sales tax revenue generated by uvo .25% City capital improvement sales
taxes and the.50'% City transportation sales tux and 50'",,o of the net sales tax revenue generated hya
.50% County sales tax. All City sales taxes have expiration (late that could occur before the total
costs of the improvements are reimbursed to the developer. The County sales lax has no expiration
date. No provision is made to replace rcvenucs from the City salts taxes fiat expire if they are not
extended. The development agreement rennins in cltuct until the total cost of the public
improvements is reimbursed to the developer.
The Cily and the County arc obligated only to mal:( quarterly payments as may lawfully be made
from finds budgctcd and appropriated for that purpose by the City and County. During the fiscal
year ended .lune 30, 2007, the City incurred payments of S121,927, under the development
a,reentcnt. This amount is included in the Development Services expenses on the Statement of
Activities.
3. During the Car- Cat fiscal year the C ity enter ed into a development ai ecment with Greater Missouri
Builders, Inc. (GMB) to reimburse them for costs associated with the Town Plaza Relevclopntcut
Project. In conjunction with this agreement the City established the Town Plaza Community
Improvenu nt District (CID) and delennined the project area to be blighted pursuant to Chupter353
of the Missouri Revised Statutes.
'Chis project invoh es the conversion of the former Scars facility into a call center for National
Asset Rccover Services (MARS) and other various improvements, such as facade improvements,
_
parking facilities, roof reconstruction, and HVAC enhancements. Total reimbursements to GM11
For redevelopment costs were limited to S3.6 million plus 7.50/,, interest. These reimbursements
will be made from incremental County and City sales lax revenues, an additional CID sults tax,
and real estate tax abatements. Reimbursements from increm(Inml County and CA) sales tux
revenue will be limited to S 1.2 of the S3.6 million total.
Incremental County and City sales tax revenue is defined as the difference in future tax revenues
from the City's 1 % gmel al sales tax and .5'%� capital improvement sales tax and half the
County's .5% general sales tax and the rcvenucs Item these taxes from the project arca in
calendar year 2006. it's anticipated that the CID will implement a 1°'S sales tax. Improvements
to the redevelopment project will reccivc 100% real estate tax abatement for the first 10 years
and 50?,(. real estate tax abatement for the next 15 years. file currant Scars facility will reccivc
503,, real estate tax abatement for 25 years. Based on 3006 assessed values the abatcnicnt of Citv
taxes on the unimproved Scars facility would be $62753.
Beginning in yearsix oftheagreement, 503,, ofthe gross rentals from the NARS sitcwill be used to
supplement the incrementul sales tax revenues. Reimbursements from incremental sales tax
rcvenucs expire with repayment of the amount to be paid by incremental sales tax or 20 years
whichever comes fust.
This Project is still in the process ofbeing completed- No payments have been made by the City to
Greater Missouri Builders.
08
REQUIRED SUPPI.FMFN I AL INFORMATION
I i 1 i i 1 1 1 1 1 1 1 i i 1 1 1 1 1
REVENUES
Taxes
Licenses 8 permits
Intergovernmental
Charges for services
Internal charges
Fines and forfeits
Miscellaneous
Investment revenue
Total revenues
EXPENDITURES
Current.
Administrative
Contingency
Development Sources
Parks and Recreation
Public safety
Public Warks
Total ..mart
Debt service:
AdminisVBlive Charges
City of Cape Girardeau
General
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Budgeted Amounts
859.00
2,103.683.00
rincipal
50.000.00
Original
Final
1,964,950.00
162,974.00
1, 985,950.00
$ 13 386,535 00
$ 13,386,535.00
1, 578.745.00
1.276 250 00
1,276,250
00
603,873.00
603.873.00
1,951,859
360,338.00
368,338.00
00
632.80000
832,800.00
18 138.231
890.000.00
890,00000
2,300.00
246.900.00
246,900.00
Public Works
144,20000
144,200.00
17, 748.096.00
17,748,896.00
48000
2.028
859.00
2,103.683.00
rincipal
50.000.00
50000.00
1,964,950.00
162,974.00
1, 985,950.00
1,529.745.00
1, 578.745.00
10,296,103
00
10 430,59400
1,951,859
00
1,989,259
00
17
021,5113.00
18 138.231
00
Interest
91,45500
rincipal
71.519.00
Total debt service
162,974.00
Capital outlay:
Administrative
39
700.00
Development Services
18,720
00
Parks and Recreation
38,160
00
Public Safety
2,300.00
Public Works
36,600.00
Total capital outlay
135
48000
Total expendltuves
18 119,970
00
Excess (deficiency) of revenues
er(under) expenditures
(371,074.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
4,042,50000
Specal assessments
3400.00
Advance repayments
21.91500
Asset disposition
-
Other non opetatin9
-
Transfers out
(4,127.66000)
To'al other flnanfng sourcee and uses ano special Items
(59,73500)
Net change In fund balances
(430,809.00)
Fund balances -- beginning
4,288,73640
Funtl balances --ending
S 3,85],927.40
92 955 00
84.519.00
177 474 00
40,376.00
19.720.00
39,46000
295,784 00
56.200.00
450.540.00
18.766,245.00
(1,017,349.00)
4,065,600.00
3,40000
21,015.00
4273,66500)
(183,350.001
(1,200,699 00)
4,288,736 40
$ 3,088,03740
Actual Amounts
$ 13,565,654.05
1,290309 35
734,997.90
301,080.68
850,492.72
853,411.77
289,347.56
192.503.40
18,097,79743
2.116 074.62
34,097 96
1,559.797,92
1,551,74071
10,312,076.61
1.951.710.27
17,527,497 99
132.69
92,541.93
97.518 85
190,193.47
39.979.90
11444.00
19,354.29
293,272.16
54,005.02
418 055 45
18,135746.91
(37949 46)
4,278 450 81
7,715.78
21,91741
2661606
4,201.48
(4,208.1110,77)
132 789 71
94,840.23
4,288 736 40
$ 4,383,57663
Variance with
Final Budget -
besltive
(Negative)
$ 199.119.05
14,059.35
131,12490
(67,257.32)
17,692.72
(36,588.23)
42 447 56
4830340
348,901.43
(14,391.52)
15.902.04
426,152 08
27,00429
118,517.39
37 548 73
610,733.01
(132.69)
413.07
(12.999,85)
(12,71947)
396.02
727600
20,105.71
2,511.84
2,194.96
32,484 55
630,498.09
979,399.52
213,450.81
4.31578
41
2861500
4,201 48
65.554.23
316,139 71
1,295,539.23
$ 1295.539.23
I 1 1 1 1 1 1 i Y 1 1 1 1 1 i 1 i 1 1
City of Cape Girardeau
Airport
Statement of
Revenues, Expenditures, and Changes In
Fund Balances
- Budget and Actual
For the Year Ended
June 30, 2007
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ 510,787.00
$
510.787.00
$ 484,146.06
$ (20,640.94)
Charges for services
1,133,850.00
1,133,850,00
1,323,252.32
189,402.32
Miscellaneous
317,777.00
317,777.00
223.434.04
(94,342.96)
Investment revenue
50.00
50.00
1,161.74
1,111.74
Total revenues
1,962,464.00
1,962,464.00
2,031,994.16
69,530.16
EXPENDITURES
Current:
Administrative
2,311,716.00
2,546,725.00
2.387.255.31
159,469.69
Total current
2,311,716.00
2,546,725.00
2,387,255.31
159,469.69
Debt service'.
-�
Interest
5,762.00
8.762.00
7,207.84
1,554.16
Principal
45,161.00
45,161.00
46,645.91
(1484.91)
Total debt service
50,923.00
53,923.00
53,853.75
69.25
Capitaoutlay:
Administrative
70,000.00
253,541.00
155,025,95
98,515.05
Total capital outlay
70,000.00
253,541.00
155,025.95
98,515.05
Total expenditures
2432,639.00
2,854,189.00
2,596,135.01
258,053.99
Excess(deficiency) ofrevenues
over (under) expenditures
(470.175.00)
(891,725.00)
(564,140.85)
327,584.15
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
608,175.00
638,175.00
638,175.00
-
Transfers out
(138,000.00)
(138,000.00)
(55,000.00)
83,000.00
Total other financing sources and uses and special items
470,175.00
500,175.00
583,175.00
83,000.00
Net change in fund balances
-
(391,550.00)
19,034.15
410,584.15
Fund balances -- beginning
144,029.62
144,029.62
144,029.62
Fund balancesending$
144,029.62
$
(247,520.38)
$ 163,063.77
$ 410,584.15
I 1 i 1 1 i 1 1 1 1 i 1 1 i 1 1 i i 1
City of Cape Girardeau
Park and Recreation
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Budgeted Amounts
Actual Amounts
$ 566,851.56
4,441.40
7,188.41
578,481.37
1,404,624.33
1,404,624.33
28.09
28.09
(837,465.05)
833,539.84
3,055.20
836,595.04
(870.01)
31,666.84
$ 30,796.83
Variance with
Final Budget -
Positive
(Negative)
$
Original
Final
3,688.41
REVENUES
37
18,548.67
18,548.67
Charges for services
$ 534,760.00
(28.09)
$
534,760.00
(28.09)
Miscellaneous
3,600.00
3,600.00
Investment revenue
3,500.00
3,500.00
Total revenues
541,060.00
541,860.00
EXPENDITURES
Current.
Parks and Recreation
1,366,937.00
1,423,173.00
Total current
1,366,937.00
1,423,17300
Debt service'.
Interest
-
-
f Total debt service
Capital outlay:
Parks and Recreation
15,625.00
12.189.00
Total capital outlay
15,625.00
12,189.00
Total expenditures
1,382,562.00
1,435,362.00
Excess (deficiency) Of revenues
over (under) expenditures
(840,702.00)
(893,602.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
840,702.00
855.702.00
Asset disposition
Total other financing sources and uses and special items
840,702.00
855,702.00
Net change In fund balances
-
(37,800.00)
Fund balancesbeginning31,666.84
31,666.84
Fund balancesending$
31,666.84
$
(6,133.16)
Actual Amounts
$ 566,851.56
4,441.40
7,188.41
578,481.37
1,404,624.33
1,404,624.33
28.09
28.09
(837,465.05)
833,539.84
3,055.20
836,595.04
(870.01)
31,666.84
$ 30,796.83
Variance with
Final Budget -
Positive
(Negative)
$
32,091.56
841.40
3,688.41
36,621
37
18,548.67
18,548.67
(28.09)
(28.09)
895.00
56,036.95
(22,162.16)
3,055.20
(19,106.96)
,IS 999 99
$ 36,929.99
III
i I
1
1 1
1 I
I 1
City
of Cape Girardeau
Transportation Sales Tax Trust Fund
II
Statement o/
Revenues,
Expenditures,
and Changes in Fund
Balances
- Budget and Actual
For the Year Ended June 30, 2007
Variance with
Budgeted Amounts
Final Budget
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$
-
$ -
$ 31,198.00
$ 31,198.00
Investment revenue
154,000,00
154,000.00
382,24981
228,249.81
Total revenues
154,000.00
154,000.00
413,447.81
259,447.81
EXPENDITURES
Current,
Public Works
518.40
(518,40)
Total current
518.40
(518
40)
1
N
Capital outlay:
Capital Improvement Projects
4,360,000.00
4,360,000.00
4,066,265.43
293,734.57
Total capital outlay
4,360,000.00
4,360,000.00
4,066,265.43
293,734
57
Total expenditures
4,360,000.00
4,360,000.00
4,066,783.83
293,216.17
Excess (deficiency) of revenues
over (under) expenditures
(4, 206,OOODO)
(4,206,000.00)
(3,653,336.02)
552,663.98
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Special assessments
41,400.00
41,400.00
41,985.94
585.94
Total other financing sources and uses and special items
41.400.00
41,400.00
41,985.94
585.94
Net change in fund balances
(4,164,600.00)
(4,164,600.00)
(3.611,350.08)
553,249
92
Fund balances --beginning
9,277,569.27
9,277,569.27
9,277,569.27
Fund balances --ending
$ 5,112,969.27
$ 5.112,969.27
$ 5,666,219.19
S 553,249.92
1 1 1 1 f 1 1
{
t
II 5 i
1
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, 2007
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 4,210,000.00
$ 4,210,000.00
$ 4,216,133.50
$ 6,133.50
Intergovernmental
-
-
68,470.86
68,470.86
Investment revenue
100000.00
100,000.00
156.373.63
56,373.63
Total revenues
4,310,000.00
4,310,000.00
4,440,977.99
130,977.99
EXPENDITURES
Current:
Development Services:
66,00000
67,300.19
(1,300.19)
Total currant
66,000.00
67,300.19
(1,300.19)
y
Capital outlay:
Capital Improvement Projects
3,039,00000
3,039,000.00
996,636.35
2,042,363.65
Total capital outlay
3,039,000.00
3,039,000.00
996,636.35
2,042,363.65
Total expenditures
3,039.000.00
3,105,000.00
1,063,936.54
2,041,063.46
Excess (deficiency) of revenues
over (under) expenditures
1,271,000.00
1,205,000.00
3,377,041.45
2,172,041.45
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
215,000.00
215,000.00
215,000.00
-
Transfer out
(25.750.00)
(25,750.00)
25,750.00
Total other financing sources and uses and special items
189,250.00
189,250.00
215,000.00
25,750.00
Net change in fund balances
1,460,250.00
1,394,250.00
3,592,041.45
2,197,791.45
Fund balances -- beginning
1,233,045.31
1,233,045.31
1,233,045.31
Fund balancesending$
2,693,295.31
$ 2,627,295.31
S 4,825,086.76
$ 2,197,79145
City of Cape Girardeau. Missouri
NOTES TO BUDGETARY COMPARISON SCI IMULES
June 30.'_'007
BUDGETS AND BUDGETARY ACCOUNTING
The Citc adopts annual operating budgets for all hinds.
'fife Cil}follows these procedures in establishing the budgetary data reflected in the finmicial
statements.
1. The City Manager submits to the City Council a proposed operating budget for the fiscal
year the following, July 1. The operating budget includes proposed expend i not es and the
means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
-. Prior to Jtdl I, the budget is legally enacted through passage of an ordinance.
4. The City Manager is authorized to uansfer budgeted amounts bet>vecn programs within
any department, however, any revisions that alter the total appropriations of any
,. department most 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 pear are honored by
the Cite.
S. 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 rcvcnucs to
appropriate, unencumbered appropriation balances within a department, or there is an
emergency situation, the City Council nap amend the initial budget by ordinance. The
initial bud, -et �cas adopted by the Cit} Council on June 19. 2006 and amended on August
21, 2006, .lune 18. 2007 and Juh9, 2007. The initial budget and final amended budget
are both reflected in the financial statements.
f -or the year ended June 30, '_'OOT the fund expenditures for llousittg Dcvclopnrent Grants, Motor
Fuel. Transportation Trust 1. Fire Sales Tax. Geneinl Capital Improvements. Pleat Management and
Risk M.umgcmcnt funds execcded their approved budgets by $23.824. $22169. 514.479, $9.81
$T_S, $170.741, and 586.084, respectively.
74
City of Cape Girardeau. Missouri
NOTES "10 III_tpGP; I ARY COMPARISON SCHFOt LES
June 30. 3007
BUDGETS AND BUDGETARY ACCOUNTING- Continued
The Statement of Revenues. Expenditures, and Changes in Fund Balances - Govemmental Funds
reports revenues and expenditwrs on the modified acaual basis of accounting in accordance kith
GAAP. fhc Statements of Revenues, Expenditures, and Changes in Fund Balances - Budect and
Actual (Budget Basis) for all govemmental fund types is prepared on a budgetarc basis which
` includes encumbrances as expenditures.
I he lollowine reconciliation x1justs GAAP basis to hudget basis:
1¢ce,I IDcfill u,cy I orR1,olmcc m1d Other
+
19nancing Suuaas 0,er 1 UlO,,)13x R'ndimns avid
Other 19nanrm, lac,
Park z.nd Tv"jisp-lal 11
Trn,vpo
1rLhL 111�I 1
Vol ry11i
Gc eral 4im,r1 lie ereamn 1Tna II
Lund_
i A�I'13u1s
S I-UeN 9,3,144 1 .4i $ 1;()97(1;9)
S9]61AU7
S(101li J4111
hlaanra Judo
�
Pcerend cnuanbmnas
ldnuui,Lrullcc ,a.I1c1
'_`D 6� 1162
❑cvdnpnsni I'll s
300 - -
-
PalkSand n<rcmion
2U4%-
Publlc,5afel)
18,1" - - -
-
1450
rublm 6ork.v
NU46 - - -
-
-
(apimlLs�ha£
- - - SIP 94
bi(Sbo
14i4.510
tunfingcno
4P - - -
-
-
\Iaterlmpron+nems limA
nut hud'llcd unu'allr
- - - -
-
195.%711
9dcanw l}om ulhu hnd,
21,917
Vdwn imouncnl, w marker
- - - -
9.165
1.191
I.11111FIl 1112111ccw,unue
llS II72' it 195
nll
2 ll
'_03.1110 11 (INP 1925 9'_1]9_'
I12lis
'9F'%I
Iles e dU1 l
y
Ye �u�oW cn.vmhlauce.
AJ�nmiarwuc.el, teas
10779 39(,53 -
-
-
Uc,clnputcnlx o
111319
Oak, end rco Juhon
4 71'1 - i'_fi1 -
-
7_ 501
I'uhllc a:dcl�
-1;97 -
-
;il
\Lpnal ou 11")
- - - 365_'X1
3317u1
4X9—I
VJn Niepa "ll,
nihmal
1," 1 .11]66 - -
-
-
n.liiolinalun11kn
'Ou10 loF 1117, 7 '111,
-
mfi'ny
R:1Ln4 114119 1z;3 439.1113
,3 -1,1.
/"1.-11,
Hud," h,",
1 94140 l 111LL4 4 (51)J S 131111:35111
, ue W,
y I°Ie nuyl
t
I he indlA'Idaal propl'lelai%
fund schedrdes of compal'lllg, budget to actual Is
1'epol'ted on a
bndgctarA'
baMS that uses the
nwdified acecntll basis of accounting with the exception
of encumbrances.
Ilncunlhruses arc leponcd
it, cxpcuses in file veal of aleumbranec.
7;
76
City ofCape Girnrdcau.
Missouri
NOTES TO
BCDGGTARY COMP,ARNON
SCI-
FMITES
June 10,2007
BUDGETS AND BUDGETARY
ACCOUNTING -Continued
Nei
Incomc (Loss)
Solid
Goll
Sullball
a
S.: ori
\13111
U;i9c
t_nars5
Cnlnpl_c.
(.AAP Its,
S 441.689
SIS94.'_3U
S II_SII $
132.6371
$ -'6111
Incrclm duc In-
Prior cau cn...... ucs
Op"Mv ecpnr,cs
16 598
26.970
592
c,,_,
Capi:11 Uu01c,
89,530
34_149
-
-
-
Dcprecialiau
19699&3
1,114116
I61,0i2
58,730
934
SpcuuI ussmmmult
49174
6.786
-
-
-
Mond pnscvxls
-
-
-
-
-
Imo o1 paid lest, )hon lccmcd
-
-
-
-
-
111111111 cwt omonisd
616,772
-
-
-
-
Coalofbond¢rundlnenlnoniiallon
743
27.866
650
-
-
Issuunccamamor16a6on
43941-t
29.830
1171)
-
-
Amuunlsdeferred 10 be used for fuwre debt
9ci I O c UII CJpIl11I Bhpi cc l'eholl boildS.
Copslmconn Illnd caminls
127.1104
-
-
-
1111ere4 a)bsWe recciced
11'.711
Adius(mcnl m liahillre k)l Lwrc laudlill
po_vmloeurl Tilmincn:inca aul-a
-
-
813
-
dc,ct dispnsi)Ions
410)11
9130
-11 000
'49
-
Bnundrtanw rclalcd racnuc
14187
3,840.857
1,494.75'
319.381)
62.306
29t1
❑1111011 duan
�
_
1".jrcnd ...aunt..... ccs
Uprnninn espcnsa
19.093
33.369
-
1,601
10
Ca pi wl ou l lm,
50.81
31.935-
xmJlll l 11111111 and
niuinlenluee ease.
-
-
4813
-
-
Imcw1 puiA mnr, lhun 1v IA
27.1_62
9912
4'_8
-
-
131101 prindpll paid
1_.874173
85i'19
21 917
-
Auumlecd Bold plculionli discoll•.)
3.293
23,830
3.034
-
-
C;1pu)d o111av5
800.429
2451 IS
301.813
-
6.0110
Vdlusl imrslnxms m 111m6er
1', 070
42349
8'81
190
Pe
Axcl Dl,pua0ona
4100
' 000
71,000
-
-
)IJ111ed 21111LIcs
'_1.761
313'_4
43.596
-
-
C'onvihwcd alpiml
_ '41'63
1.14-3,52(1
=951
912
4141).05S
_411600
_ 4841838
'0,?_ti
;'.,334
Bcdgcl lta:is
b f-G6.`I'_)
} 170_9'3
S (-'34,6381 8
,57)
$ 21
76
77
Cit} atCapc Girardeau, Missouri
NOTES 10 BUDGLI_ARY
COMPARISON SCHFDULFS
June 30, 2007
BUDGETS AND BUDGETARY
ACCOUNTING - Continued
Net Income Loss
Dina Flint L., 1,u..c
Ri,A
lapripmcn
Ynscs,Ilo d4 ,...icil Frineq
hlun:rvnnmt
Rcplomnmol
GAAP Basis
$ 32.188 S(162,6'8) $ (163.394)
8 (71,89'_)
5 14-32i
Increase due to
_
prior year encumbrances
Operating expenses
38 2.786 -
-
-
Capital outlays
,�
Dept cclation
11,884 19.537 -
-
234,229
Deten'ed feyenaes
- 18338 1 -
-
-
Issuunce cost amortization
- 123 -
-
546
Amortized bond premium/discount
- - -
-
197
DiITeren ce between proceeds 1}om
sale of Gxed assets end gain or loss
- - -
-
101,834
r
12cpa3 mcnl of interfilnd loans
_ _ _.._. __.
_-
38,831.
50.91_3 10R30 -
-
377.578
--
DCCrCaBC LAIC I0:
_
Year-end areumblances
Operating expenses
1,720 120 2,500
-
-
Interest paid morcthan accrued
- - -
-
176
Adjust investments to market
155 169 368
7.429
7.997
Asset dispositions
- - -
-
30.000
Principal paid
- 9.750 -
-
65.000
Capital outlays
51 576 5f,20 -
229.m6
i3 451 1 � 659 '_868
7,429
;2249
Budee[Basis
S 29,659 $ 37.543 $(166,'_6'_)
5(79,311)
$187,659
77
SUPPLEMENTAL INFORMATION
I 1 i 1 1 i 1 i 1 1 i 1 i i i 1 1 i 1
CITYOF CAPE GIRARDEAC,
NdlSSoIJRI
Schedule of Funding Progress
June 3(1. 2007
(b) (b -a)
[(b -a), c)]
m
(a)
Enti v Age Unfunded
(c)
UAL as a
Actuarial
Actuarial
Actuarial Accred
(a b)
Annual
Pcrccnlage of
Valuation
Value
Accnied Liability
Funded
Covered
Covered
Date
OfAssets
Liability (UAL)
Ratio
Payroll
Pa}ioll
2!28,2005
27,919.192
25.27 1,028 (2,648.164)
1101R�
11.349,845
2/28/2006
29.658595
27,646,616 (2,011,979)
107%
12244.700
2/28,2007
31,670.051
29.087,073 (2,582.978)
109%
13.1 20,224
See Independent Auditors'
Report.
1 1 1 1 A i 1 ( 1 1 1 ► i 1 1 1 i 1 1
City of Cape Girardeau
Flood Protection
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Variance with
Budgeted Amounts Final Budgel-
Positive
Original Final Actual Amounts (Negative)
REVENUES
Investment revenue
—otal revenues
EXPENDITURES
Total expenditures
Excess (deficiency) of evenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
Total other financing sources and uses and special Items
Net change in fund balances
Fund balances -- beginning
Fund balances — ending
f I 1 1 1 {
1 i
1 1 1
1
1
1 1
1
1
1 1
City of Cape Girardeau
Vision 2000
Statement of
Revenues, Expenditures, and Changes In
Fund
Balances
- Budget and Actual
For the Year Ended June
30, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ $
$
83.77
$ 8377
Total revenues
83.77
83.77
EXPENDITURES
Current'.
Development Services
1,000.00
1,000.00
231.06
76994
Total current
1,000.00
1,000.00
231.06
768.94
Total expenditures
1,000.00
1,000.00
231.06
768.94
m Excess (deficiency) of revenues
` over (under) expenditures
(1,000.00)
(1,000.00)
(147.29)
852.71
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers in
1,000.00
1,000.00
1,000.00
-
Total other financing sources and uses and
special items
1.000.00
1,000.00
1,000.00
Net change in fund balances
-
-
852.71
852.71
Fund balances -- beginning
1,787.73
1,787,73
1,787.73
Fund balancesending$
1,787.73 $
1,787.73
$
2.640.44
$ 852.71
1 1 1 1 1 1 1 I 1 1 1 1 1 1 1 1 1 i i
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, 2007
Budgeted Amounts
REVENUES
141,775.40
Taxes
$ 1452,500.00
Investment revenue
48.000.00
Total revenues
1,500,500.00
EXPENDITURES
Current,
Administrative
1,543,421.00
Total current
1,543
421.00
354,537.64
Total expenditures
1,543,421.00
Excess (deficiency) of revenues
over (under) expenditures
(42,921.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
Net change in fund balances
(42,921.00)
Fund balances — beginning
1,265,816.33
Fund balances --ending
$ 1,222,895.33
$ 1,452,500.00
48.000.00
1,500,500.00
1,985,921.00
1,986,921.00
1,986,921.00
(486,421.00)
1,265,816.33
$ 779,395.33
Actual Amounts
$ 1,594,27540
44,645.65
1,638,921.05
1,770,804.41
1,770,804.41
1,770,804.41
(131,883.36)
1,265,816.33
$ 1,133.932.97
Variance with
Final Budget -
Positive
(Negative)
$
141,775.40
(3,354.35;
138,421,05
216,116.59
216,116.59
216,116.59
354,537.64
$ 354,537.64
i 1 f 1 1 1
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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, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual
Amounts
(Negative(
REVENUES
Taxes
$ 19,525.00
$
19,525.00
$
18,540.34
$ (984.66:
Investment revenue
1,000.00
1,000.00
2,808.71
1.00871
Total revenues
20,525.00
20,525.00
21,349.05
824.05
EXPENDITURES
Current:
Development Services
5,500.00
5,500.00
6,866.82
(1,366.82
Total current
5.500.00
5,500.00
6.866.82
(1,366.82
Capital outlay:
Development Services
60,000.00
60,000.00
60,000.00
m Total capital outlay
60000.00
60,000.00
60.000.00
N
Total expentlilures
65,500.00
65,500.00
6,866.82
56.633.18
Excess (deficiency) of revenues
over (under) expenditures
(44,975.00)
(44,975.00)
14,482.23
59,457.23
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Total other financing sources and uses and
special items
Net change in fund balances
(44,975.00)
(44,975.00)
14,482.23
59.457.23
Fund balances --beginning
52,394A6
52,394.06
52,394.06
Fund balances — ending
$ 7,419.06
$
7,419.06
$
66,876.29
$ 59,457.23
1 1 i 1 i i f 1
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1
1
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i
If
Y 1
City of Cape Girardeau
Health
Statement of
Revenues,
Expenditures, and Changes
in
Fund Balances
- Budget and Actual
For the Year Ended
June 30, 2007
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 268,282.00
$
268,282.00
$ 277,176.91
$ 8,894.91
Licenses 8 permits
6,000.00
6,000.00
5,978.95
(21.05
Intergovernmental
7,700.00
7,700.00
6,311.15
(1,388.85
Investment revenue
10,000.00
10,000.00
18,833.52
8,833.52
Total revenues
291,982.00
291,982.00
308,300.53
16,318.53
EXPENDITURES
Current:
Public Safety
291,982.00
306,982.00
291
16,596.40
Total current
291,982.00
306982.00
290,385.60
16,596.40
Capital outlay:
v
Total capital outlay
Total expenditures
291,982.00
306,982.00
290,385.60
16,596.40
Excess (deficiency) of revenues
over (under) expenditures
(15,000.00)
17,914.93
32,914.93
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
(22,500.00)
(22,500.00)
(20,000.00)
2,500.00
Total other financing sources and uses and special items
(22,500.00)
(22,500.00)
(20,000.00)
2,500.00
Net change in fund balances
(22,500.00)
(37,500.00)
(2.085.07)
35,414.93
Fund balances— beginning
365,789.19
365789.19
365,789.19
Fund balances — ending
$ 343,289.19
$
328,289.19
$ 363,704.12
S 35.414.93
1 1 1 1 1 i i i 1 A 1 1 1 1 t 1 1 t 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, 2007
Variance with
Final Budget -
Positive
(Negative)
$
401,401
Budgeted Amounts
87
73,683.97
(6,550.90
468,534.94
Original
Final
Actual Amounts
(1,060.64
(28,108.34
(28,108.34
REVENUES
(29,168.98
439,365.96
Intergovernmental
$ 1475.000.00
$ 1,475,000.00
$ 1,876.401.87
Miscellaneous
-
-
73,683.97
Investment revenue
15,000.00
15,000.00
8.449.10
Total revenues
1,490
000.00
1,490,000.00
1,958.534.94
EXPENDITURES
Current:
Public Works
-
-
1,060.64
Total current
1,060.64
Capital outlay.
Capital Improvement Projects
192,40000
708,400.00
736,508.34
v
A Total capital outlay
192,400.00
708,400.00
-736
508.34
Total expenditures
192.400.00
708.400.00
737,568.98
Excess (deficiency) of revenues
over (under) expenditures
1,297,600.00
781,600.00
1,220,965.96
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
(1,141,800.00)
(1,141,800.00)
(1,141,800.00)
Total other financing sources and uses and special items
(1,141,800.00)
(1,141,800.00)
(1,141,800.00)
Net change in fund balances
155,800.00
(360,200.00)
79.165.96
Fund balances -- beginning
176,264.09
176264.09
176,264.09
Fund balances --ending
$ 332064.09
$ (183,935.91)
$ 255,430.05
Variance with
Final Budget -
Positive
(Negative)
$
401,401
87
73,683.97
(6,550.90
468,534.94
(1,060.64
(1,060.64
(28,108.34
(28,108.34
(29,168.98
439,365.96
439,365.96
5 439365.9E
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, 2007
Budoeted Amounts
REVENUES
Intergovernmental $
-
Investment revenue
2,000.00
Total revenues
2,000.00
EXPENDITURES
Current:
Public Works
Total current
moi, Capital outlay
Capital Improvement Projects
3,300.00
Total capital outlay
3300.00
Total expenditures
3300.00
Excess (deficiency) of revenues
over (under) expenditures
(1,300.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfer in
115,000.00
Total other financing sources and uses and special items
115,000.00
Net change in fund balances
113,700.00
Fund balances -- beginning
117380 87
Fund balances— ending $
231,080.87
2,000.00
2,000.00
254,300.00
(252,300.00)
115,000.00
115,000.00
(137300-00)
117,380.87
$ (19,919.13)
Actual Amounts
$ 78,505.30
6.593.20
85,098.50
5,461.65
5,461.65
168,528.48
168,528.48
173,990.13
(88.891.63)
117,380.87
$ 28,489.24
Variance with
Final Budget -
Positive
(Negative)
$ 78,505.30
4,59320
83,098.50
(5.461.65'
(5,461.65'
85,771.52
85,771.52
80309.87
163,408.37
(115,000.00
(115,000.00
48,408.37
$ 48,40837
1 1 1 1 1 1 1 f
t
III 1
t
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, 2007
Variance with
Budgeted Amounts
Final Budget
-
Positive
Original
Final
Actual
Amounts
(Negative)
REVENUES
Taxes
$ 2,150,000.00
$ 2,150,000.00
$ 2,168,789.80
$ 18,789.80
Investment revenue
110,000.00
110,000.00
125,666.74
15,666.74
1 otal revenues
2,260,000.00
2,260 000
00
2,294,456.54
34456.54
EXPENDITURES
Current:
Development Services:
33.000.00
33,650.09
(650.09)
Total current
33.000.00
33,650.09
(650.09)
r
Debt service:
Adm'mistrative charges
74.232.00
74,232.00
63,721.12
10,510.88
Interest
668,970.00
719,970.00
]20,015.90
(45.90;
Principal
920,000.00
920,000.00
920,000.00
Total debt service
1,663202.00
1714,202.00
1,703,737.02
10.464.98
Total expenditures
1,663
202 00
1,747,202,00
1,737,387.11
9,814.89
Excess (deficiency) of revenues
over (under) expenditures
596798.00
512,798.00
557,069.43
44,2]143
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
25,000.00
25,000.00
103,763.18
78,763.18
Tmodfer out
(621,798.00)
(621.798.00)
(617,782.99)
4,015.01
Total other financing sources and uses and special Items
(596,798.00)
(596,798.00)
(514,019.81)
82,778.19
Net change in fund balances
-
(84,000.00)
43,049.62
127,049.62
Fund balancesbeginning2,669,269.47
2,669,269.47
2,669,269.47
Fund balancesending$
2,669,269.47
$ 2,585,269.47
$ 2,712,319.09
$ 127,049.62
1 f 1 I 1 1
1 1 1
1 1
1
1
1 i 4
1
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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, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 66,266.00
$
66,266.00
$ 65,69471
$ (571.29;
Total revenues
66
266.00
68266.00
65,694.71
(571.29;
EXPENDITURES
Debt service:
Administrative charges
2,500.00
2,500.00
532.25
1,957.75
Interest
33,333.00
33,333.00
33,333.00
-
Principal
123,000.00
123,000.00
123,000.00
Total debt service
158,833.00
158,833.00
156,865.25
1,967.75
Capital outlay.
Capital Improvement Projects
-
390.030.00
406.446.63
(16,446.63
Total capital outlay
390,000.00
406.446.63
(16.446.63
Total expendiNres
150,833.00
548,833.00
563,311,88
(14,478.88
Excess (deficiency) of revenues
over (under) expenditures
(92,567.00)
(482,567.00)
(497,617.17)
(15,050.17
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Special Assessments
105,205.00
105,205.00
166,358.72
61,153.72
Total other financing sources and uses and
special items 105,205.00
105.205.00
166,358.72
61,153.72
Net change in fund balances
12,638.00
(377,362.00)
(331,258.45)
46,103.55
Fund balances — beginning
664,344.39
664,344.39
664,344.39
Fund balances — ending
$ 676,982.39
$
286,982.39
T-333,095.94
$ 46,103.55
1 1 1 1 1 1
1 1
1
I
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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, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 2,150,000.00
$ 2,150.000.00
$ 2,168.851.39
$ 18,851.39
Investment revenue
25,000.00
25,000.00
21,132.75
(3,86725)
Total revenues
2,175,000.00
2,175,000.00
2,189,984.14
14,984.14
EXPENDITURES
Current
Development Services
33,000.00
33,650.09
(650.09)
Total current
33,000.00
33,650.09
(650.09)
-r. Total expenditures
33,00000
33,650.09
(650.09)
r.
Excess (deficiency) of revenues
over (under) expenditures
2,175,000.00
2,142,000.00
2,156,334.05
14,334.05
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers out
(2,206,013.00)
(2,206.013.00)
(2,155,814,71)
50,198.29
Total other financing sources and uses and
special Items
(2,206,013.00)
(2,206,013.00)
(2,155,814.71)
60.198.29
Net change in fund balances
(31,013.00)
(64,013.00)
519.34
64,532.34
Fund balancesbeginning834,102.45
834,102.45
834.10245
Fund balancesending$
803,08945
$ 770,089.45
$ 834.621.79
$ 64,532.34
1 1 1 i i 1 1 1 1 I 1 i i 1 i 1 1 1 1
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, 2007
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Taxes
$ 2,105.000.00
$ 2,105,000.00
$ 2,109,664.40
Investment revenue
5,302.09
l otal revenues
2,105,000.00
2,105,000.00
2,114,966.49
EXPENDITURES
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
2,105,000.00
2,105,000.00
2,114,966.49
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfer out
(2,105,000.00)
(2,120,000.00)
(2,129,85184)
Total other financing sources and uses and special Items
(2,105,000.00)
(2,120,000.00)
(2,129,85184)
Net change in fund balances
-
(15.000.00)
(14,885.35)
Fund balances - beginning
190,021.29
190.021
79
190,021.79
Fund balancesending$
190,021.79
$ 175,021.79
$ 175,13644
$ 4,66440
5,302.09
9,966.49
9,966.49
(9,851.84;
(9.851.84'
114.65
S 114.65
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, 2007
Budgeted Amounts
REVENUES
Investment revenue
$ 35.000.00
Total revenues
35,000.00
EXPENDITURES
Current:
Public Safety
Total current
Debt service:
Interest
246,388.00
Principal
555,000.00
Total debt service
001,388.00
Capital outlay:
Capital Improvement Projects
-
Public Safety
227.731.00
Total capital outlay
227,731.00
Total expenditures
1,029,118.00
Excess (deficiency) of revenues
over (under) expenditures
(994,119-00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
2,105,000.00
Transfer out
(1,052.500.00)
Total other financing sources and uses and special items
1,052,500.00
Net change in fund balances
58.381.00
Fund balancesbeginning1,643,542.28
Fund balancesending$
1701.92328
$ 35.000.00
35,000.00
14,700.00
14,700.00
246,388.00
555,000.00
801,388.00
385,000.00
248.481.00
633,481.00
1,449,569.00
(1,414,56900)
2,120,000.00
(1,060,000.00)
1,060,000.00
(354,569.00)
1,643,542.28
$ 1.288,973.28
Actual Amounts
$ 136,414.25
136,414.25
14,632.40
14,632.40
242.973.08
516,500.00
759.473.08
383,979.65
244,814.18
628,793.83
1,402,899.31
(1,266,485,06)
2,129,051.84
(1,064,925.95)
1,064,925.89
(201,559.17)
1,643,542.28
$ 1,441,983.11
Variance with
Final Budget -
Positive
(Negative)
$ 101,414.25
101,414.25
3,414.92
38.500.00
41,914.92
1,020.35
3,666.62
4,687.17
46,669.69
148.083.94
9,851.84
(4,925.95
4.925.89
$ 153,009 83
i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 i
City of Cape Girardeau
Debt Service
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
EXPENDITURES
Budgeted Amounts
Current:
Debt Service
Original
Total current
Final
REVENUES
Debt service.
Taxes
5
$
-
Interest
Miscellaneous
27,425.00
27,425.00
281,400.00
Investment revenue
19,500.00
443,414.00
19,500.00
Total expenditures
Total revenues
45.925.00
46
925.00
EXPENDITURES
Current:
Debt Service
Total current
Debt service.
Administrative charges
-
Interest
162,014.00
Principal
281,400.00
Total debt service
443,414.00
Total expenditures
443,414.00
Excess (deficiency) of revenues
over (under) expenditures
(396.480.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
368,000.00
Special assessments
33,000.00
Total other financing sources and uses and special items
401,000.00
Net change in fund balances
4,511.00
Fund balances -- beginning
368,045.52
Fund balancesending$
372,556.52
162,014.00
281.400.00
443,414.00
443,414.00
(396,480.00)
368,000.00
33,000.00
401,000.00
4,511.00
368,045.52
$ 372.556.52
Actual Amounts
$ 40.93
27,408,59
30,258.75
57,708.27
4,408.72
161,999.35
178.400.00
344,808.07
344.808.70
(287,100.43)
182,000.00
37,358.41
219.358 41
(67,742.02)
368,045.52
$ 300,303.50
Variance with
Final Budget -
Positive
(Negative)
S 40.93
(16.41;
10,758 75
10,783.27
(0.63'
(0.63
(4,408.72
14.65
103.000.00
98.605.93
98.605.30
109,388.57
(186,000.00
4,358.41
(181,641.59
(72,253.02
$ (72,253.02
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, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ - $ -
$ 34,000.00
$ 34,000.00
Miscellaneous
- -
8,500.00
8,500.00
Investment revenue
9,000.00 9,000.00
9,047.04
4].04
Total revenues
9,000.00 9,000.00
51,547.04
42,547.04
EXPENDITURES
Debt service:
Total debt service
Capital outlay:
Capital Improvement Projects
46,550.00
47,27542
(725.42
Total capital outlay
46,550.00
47,275.42
(72542
Total expenditures
46,550.00
47,275.42
(725.42
Excess (deficiency) of revenues
over (under) expenditures
9,000.00 (37,550.00)
4,271.62
41,821.62
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Net change In fund balances
9,000.00 (37,550.00)
4,271.62
41,821.62
Fund balancesbeginning201,08147
201,081.47
201,081.47
-
Fund balances --ending
$ 210,081.47 $ 163,531.47
$ 205,353.09
$ 41,821.62
1 I 1 1 1 I
I 1 I
1 1 1
1
i 1
f
I
it 1
City of Cape Girardeau
Street Improvements
Statement of Revenues,
Expenditures,
and Changes In Fund
Balances
- Budget and Actual
For
the Year Ended June 30, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 15,000.00
$ 15.000.00
$ 12,233.23
$ (2,766.77
Total revenues
15,000.00
15,000.00
12,233.23
(2,766.77
EXPENDITURES
Capital outlay:
Capital Improvement Projects
41,800.00
125,300.00
92,356.79
32,943.21
Total capital outlay
41,800.00
125,300.00
92,356.79
32,943.21
Total expenditures
41,800.00
125,300.00
92,356.79
32.943.21
Excess(deficlency) of revenues
over (under) expenditures
(26,800.00)
(110,300.00)
(80,123.56)
30,176.44
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers in
41,800.00
96,800.00
96,800.00
-
Special Assessments
21.000.00
21.000.00
41,527.44
20,527.44
Interest and other Charges
(350.59)
(350.59
Total other financing sources and uses and
special items 62,800.00
117,800.00
137,976.85
20,176.85
Net change in fund balances
36,000.00
7,500.00
57,853.29
50,35329
Fund balances -- beginning
(7,487.65)
(7,487.65)
(7,487.65)
Fund balances --ending
$ 28,512.35
$
12.35
5 50,365.64
$ 50,353.29
f 1 i 1 1 i l f
1
{ 1 f
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, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$
-
$ -
$ 62,289.33
$ 62289.33
Miscellaneous
17,500.00
17,500.00
-
(17,50000)
Investment revenue
2,000.00
2,000.00
1,779.61
(220.39)
"notal revenues
19,500.00
19,500.00
64,068.94
44,568.94
EXPENDITURES
Debt Service
Interest
307.45
(307
45)
Total debt service
307.45
(30745)
n Capital Outlay
Capital Improvement Projects
62,700.00
142,700.00
105.392.15
37,307.85
Total capital outlay
62,700.00
142,700.00
105,392.15
37,307.85
Total expenditures
62,700.00
142,700.00
105,699.60
37,000.40
Excess (deficiency) of revenues
over (under) expenditures
(43,200.00)
(123,200.00)
(41,630.66)
81,569.34
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Net change in fund balances
(43,200.00)
(123,200.00)
(41,630.66)
81,569.34
Fund balancesbeginning48.212.27
48,212.27
48.21227
Fund balances —ending
$ 5,012.27
$ (74,987.73)
IS 6,581.61
$ 81,569.34
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, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 12.000.00
$ 12,000.00
$ 17,878.87
$ 5.878.87
Total revenues
12,000.00
12,000.00
17,878.87
5,878.87
EXPENDITURES
Capital outlay
Capital Improvement Projects
200,000.00
200,000.00
Total capital oWay
200,000,00
200.000.00
Total expenditures
200,000.00
200,000.00
Excess (deficiency) of revenues
over (under) expenditures
12,000.00
(188.000.00)
17,878.87
205,878.87
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfer out
(55,000.00)
(55,000.00)
Total other financing sources and uses and
special items
(55,000.00)
(55,000.00)
Net change in fund balances
12,000.00
(243,000.00)
(37,121.13)
205,878.87
Fund balancesbeginning350,351.16
350,351.16
350,351.16
Fund balancedendingS
362,351.16
$ 107,351.16
$ 313,230.03
$ 205,878.87
1 1 1 1 1 I t { { / 1 1 11 1 1 1 t i /
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, 2007
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental $
-
$ -
$ 96,161.56
$ 96,181.56
Investment revenue
2,141.75
2,141.75
Total revenues
98,323.31
98,323.31
EXPENDITURES
Current:
Development Services
145,000.00
125,521.53
19,478.47
Total current
145,000.00
125,521.53
19,478.47
Debt service:
Interest
1,135.20
(1,13520)
Total debt service
1,135.20
(1,135.20)
Total expenditures
145,000.00
126,656.73
18,343.27
Excess (deficiency) of revenues
over (under) expenditures
(145,000.00)
(28,333.42)
116,666.58
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
25,000.00
25,000.00
24,492.92
(507.08)
Total other financing sources and uses and special items
25,000.00
25,000.00
24,492.92
(507.08)
Net change in fund balances
25,000.00
(120,000.00)
(3,840.50)
116,159.50
Fund balances --beginning
60,821.92
60,821.92
60,821.92
Fund balances — ending $
85,821.92
$ (59,178.08)
$ 56,981.42
$ 116,159.50
City of Cape G canteen
Corp Flood Control Projects
Statement of Revenues, Expenditures, and Changes In Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Total revenues
EXPENDITURES
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
(107,002.00)
(107,002.00)
Total other financing sources and uses and special Items
(107,002.00)
(107,002.00)
Net change in fund balances
(107,002.00)
(107,002.00)
-
Fund balances -- beginning
106,780.30
106,780.30
106,780.30
Fund balancesending$
(221.70)
$
(22177)
$ 106,780.30
107,002.00
107,002.00
107.002.00
$ 107,002.00
Y 1 1 1 i i 1
i 1
1 1 1
1
1 1 1 1
1 Y
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, 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$
- $ -
$ 63,531.10
$ 63,531.10
Total revenues
63,531.10
63,531.10
EXPENDITURES
Current:
Development Services
50,000.00
73.652.50
(23,652.50)
Total current
50,000.00
73.652.50
(23,652.50)
Debt service'.
_— Interest
17141
(17141)
Total debt service
17141
(17141'
Total expendltures
50,000.00
73,823.91
(23,823.91;
Excess (deficiency) of revenues
over (under) expendltures
(50,000.00)
(10.292.81)
39,707.19
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
15p00.00
11,366.26
(3,613.72'
Total other financing sources and uses and special items
15,000.00
11,386.28
(3,613.72'
Net change in fund balances
- (35.000.00)
1,093.47
36,093.47
Fund balances-- beginning
Fund balancesending$
$ (35,000.00)
$ 1,093.47
$ 36,093.47
I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i i 1 i
City of Cape Girardeau
Sewer
Statement of Revenues. Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30. 2007
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Residential charges
$ 1,668,600.00
$ 1,668,600.00
5 1,590,509.92
$ (78,090.08)
Commercial charges
1006,300.00
1,006,300.00
1,035,541.14
29,241.14
Other fees and charges
45,000.00
45,00000
39,173.67
(5,826.33)
Miscellaneous
18,00000
18,000.00
21,825.32
3,82532
Investment revenue
41,350.00
41,350.00
462,765.73
421,415.73
Total revenues
2,779,250.00
2,779,250
00
3,149,81578
370,565.78
EXPENDITURES
Current,
Contractual services
179,997.00
221,515.00
228,428.08
(6,913.08)
General operating expenses
40,770.
DO
39,970.00
33,813.80
6,156.20
Internal service expense
117,234.00
135,234.00
135,524.16
(290.16)
Material and supplies
359,316.00
372,388.29
361,526.00
14862.29
Personnel services
1,404,054
00
1,414,754
00
1,409,937
31
4,816.69
Special projects expense
59700.00
222.700.00
216,838.57
5,861
43
Total current
2,161.071.00
2406,561.29
2.386,067.92
20,493.37
Debt service:
Administrative charges
140,404.00
140,404.00
137,33846
3,065.54
Interest
373,703.00
(191,697.00)
(193,15702)
1,460.02
Principal
201601600
2,878416.00
2,870.272.91
8,143.09
Total debt service
2530,12300
2,827,123.00
2,814,454.35
12,668.65
Capital outlay:
Capital Improvement Protects
155,000.00
770,500.00
477,329.76
293,170.24
Equipment
232,390.00
209,152.71
207,172.34
198037
Other Capital Expenditures
170,00000
78,000.00
77710.00
290.00
Total capital outlay
557.390
00
1,057,652
71
762212.10
295,440.61
Total expenditures
5,248,584.00
6,291
337
00
5,962,734.37
328.602.63
Excess(de0ciency) of revenues
over (under) expenditures
(2,469,334.00)
(3,512,08700)
(2,812
918
59)
699,168.41
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Intergovernmental
-
-
176690.84
176,690,84
Transfersm
2,193,138.00
2.193,138
00
2,155,814.71
(37,323.29)
Connection fees
155,00000
155,00000
15248000
(2,520.00)
Special assessments
15,000.00
15,000.00
49,174.01
34,174.01
Asset disposition
26,000.00
26,00000
12,247
50
(13,752.50)
Total other financing sources and uses and special items
2,389,138.00
2.359,138
00
2,546,407.06
157,269.06
Net change In fund balances
(60,196.00)
(112294809)
(266
511
856,43747
Fund balancesbeginning3,321,807.73
3,321,80713
3,321,807.73
Fund balancesending$
3,241611.73
$ 2.198.85873
$ 3.055296.20
5 856.43747
1 1 1 1 { Y
1 I
1
1 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, 2007
Variance with
Budgeted Amounts
Final Budget
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Residential charges
$ 3,145,000.00
S 3,145,000.00
$ 3,117,321.92
$ (27,678.08)
Commercial charges
2.157.500.00
2,157,500.00
2,239,891.33
82,391.33
Other fees antl charges
207,000.00
207,000.00
198,866.75
(8.13325)
Miscellaneous
13
700.00
13,700.00
15,201.35
1.501.35
Investment revenue
141450.00
141450.00
193,090.42
5164042
Total revenues
5,664,650.00
5,664,650.00
5764,371.77
99,721.77
EXPENDITURES
Current:
Contractual services
3,442,324.00
3,441,897.00
3,185231.32
256,66568
General operating expenses
185,170.00
185,170.00
177,447.47
7,722.53
Internal service expense
48,024.00
48,024.00
49,801.52
(1,777.52)
Material and supplies
465,625.00
484.461.09
541,02242
(56,561.33)
Personnel services
115,388.00
115,388.00
123,503.30
(8,115.30)
Special projects expense
65,000.00
80,000.00
69,113.48
10,886.52
Total current
4,321,531.00
4,354,940.09
4,146,119.51
208,820.58
Debt service.
Administrative charges
1,900.00
1,900.00
438.93
1461.07
Interest
279.205.00
279,205.00
279,203.99
1.01
Principal
855
220.00
855,220.00
855,219.12
0.88
Total debt service
1,136.325.00
1,136,325.00
1,134,862.04
1462.96
Capital outlay:
Capital Improvement Projects
-
-
(9.437.33)
9,437.33
Equipment
326,190.00
289,613.91
252,345.41
37,268.50
Total capital outlay
326,190.00
289,613.91
242.908.08
46,705.83
Total expenditures
5,784,046.00
5,780,079.00
5,523,889.63
256,989.37
Excess (deficiency) of revenues
over (under) expenditures
(119,396.00)
(116,229.00)
240.482.14
356,711.14
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers in
395.000.00
395,000.00
395,000.00
-
Investment revenue
1200.00
1,200.00
2,15655
956.55
Special assessments
31800.00
3,800.00
6,786.26
2,986.26
Asset depositor
46315.00
46,315.00
25,948.42
(20,366.58)
l'olal other 0natioin, sources and uses aid
special items 446.315.00
446,315.00
429,891.23
(16
423.77)
Net chall fund balances
326,919.00
330,086.00
670,373,37
340267.37
Fund balanced --beginning
4,086,50674
4,08650674
4,086,506 74
Fund balancesending$
4,413,42574
S 441659274
$ 4,755,880.11
$ 340,287.37
I i 1 1 1 i f f 1 1 i 1 1 i 1
City of Cape Girardeau
Solid Waste
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Budgeted Amounts
Actual Amounts
1,904,09].25
28,294.96
831,319.95
83,080.25
37,551 68
53,859.74
2,938203 83
1,114,438.12
38,415.14
250,791.25
125,970.90
1,173,676.32
83,777.16
2,787,068.89
104.32
46,059.52
52,257.97
98,421.81
364,196.62
9,228.00
373,424.62
3,258,915.32
(320,711.49)
11,852.62
74,221.23
86,073.85
(234,637.64)
1,001,824.49
$ 767,186.85
Variance with
Final Budget -
Positive
(Negative)
(902 75)
544,96
144,601.95
S.419 75)
5,551 68
13,859.74
158,235.83
9,209.88
1.095.86
(11,893.25)
11,460.10
25,366.68
1,222.84
36,462.11
595.68
R
us, dA
2,053.38
22.00
2,075.38
39,804.68
198,040.51
0.62
36,176.23
36.176.85
234.217.36
$ 234,21736
Original
Final
REVENUES
Residential charges
1,905,000
00
1,905,000.00
Commercial charges
2],]50.00
27,750.00
Transfer station charges
586.718.00
686,718.00
Other fees and charges
88,500.00
88,500.00
Miscellaneous
32,000.00
32,000.00
Investment revenue
40,000.00
40,000.00
Total revenues
2.779,968.00
2.779,968
00
EXPENDITURES
Current.
Contractual services
975,392.00
1,123,648
00
General operating expenses
39,408.00
39,511.00
Internal service expense
193,898.00
238.898.00
Material and supplies
127,656.00
137,431.00
Personnel services
1,199,043.00
1,199,043.00
Special projects expense
85,000.00
85,000.00
Total current
2,620,397.00
2,823,531.00
Debt service:
Administrative charges
700.00
700.00
Interest
37,231.00
54.481.00
Principal
38,008.00
44,508.00
Total debt service
75,939.00
99,689.00
Capital outlay:
Equipment
293.050.00
366,250.00
Other Capital Expenditures
9,250.00
Total capital outlay
293.050.00
375.500.00
Total expenditures
2,989,386.00
3298,720.00
Excess N1.uoency) of revenues
over (under) expenditures
(209,418.00)
(518,752.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Intergovernmental
11,852.00
11,852.00
Asset disposition
38,045.00
38,045.00
Total other financing sources and uses and special Items
49,897.00
49,897.00
Net change in fund balances
(159.521.00)
(468,855.00)
Fund balances -- beginning
1 001,824.49
1.001,824.49
Fund balancesending$
842,303.49
$ 532,96949
Actual Amounts
1,904,09].25
28,294.96
831,319.95
83,080.25
37,551 68
53,859.74
2,938203 83
1,114,438.12
38,415.14
250,791.25
125,970.90
1,173,676.32
83,777.16
2,787,068.89
104.32
46,059.52
52,257.97
98,421.81
364,196.62
9,228.00
373,424.62
3,258,915.32
(320,711.49)
11,852.62
74,221.23
86,073.85
(234,637.64)
1,001,824.49
$ 767,186.85
Variance with
Final Budget -
Positive
(Negative)
(902 75)
544,96
144,601.95
S.419 75)
5,551 68
13,859.74
158,235.83
9,209.88
1.095.86
(11,893.25)
11,460.10
25,366.68
1,222.84
36,462.11
595.68
R
us, dA
2,053.38
22.00
2,075.38
39,804.68
198,040.51
0.62
36,176.23
36.176.85
234.217.36
$ 234,21736
1 1 i 1 1 1 i 1 1 1 1 1 1 1 1 1 i
City of Cape Girardeau
Golf Course
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Budgeted Amounts
Actual Amounts
$ 388,296.81
73,493.75
10,011,00
2,374.00
1.053.43
475,228.99
28,757.25
55,968.33
55.179.62
73,975.10
308,497.64
9,893.48
532,271.42
16,408.99
21,917.41
Variance with
Final Budget -
Positive
(Negative)
$ (48,503.19)
(6.25)
1,011.00
2,374.00
(196.57)
(45,321.01)
3.200.75
(1,018.33)
12,447.38
(5,810.10)
(2.469.64)
(193.48)
6,156.58
(1,058.99)
2.59
Original
Final
92,803.88
11,855.86
REVENUES
2,508.00
2,508.00
User fees
$ 436,800.00
8 436,800.00
Concession revenues
73,500.00
(25,856.95',
73,500.00
5,477.99
Equipment sales
9,000.00
9,000.00
5,421.04
Miscellaneous
(25,856.95'
-
-
Investment revenue
1,250.00
1,250.00
Total revenues
520,550.00
520,550.00
EXPENDITURES
Current.
Contractual services
31,958.00
31,958.00
General operating expenses
54,950.00
54,950.00
Internal service expense
67,627.00
67,627.00
I' Material and supplies
68,165.00
68,165.00
Personnel services
304.328.00
306,028.00
Special projects expense
9.700.00
9,700.00
Total current
536,728.00
538,428.00
Debt service.
Interest
15,350.00
15,350.00
Principal
21,920.00
21,920.00
Total debt service
37,270.00
37,270.00
Cap tal outlay:
Total capital outlay
Total expenditures
573,998.00
575,698.00
Excess (deficiency) of revenues
over (under) expenditures
(53,448.00)
(55,148.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
53,448.00
80,948.00
Asset disposition
Total other flnanang sources and uses and special items
53,448.00
80P48,00
Net change in fund balances
-
25,800,0
Fund balances --beginning
5,477.99
5,477.99
Fund balancesending$
5.477.99
IS 31,277.99
Actual Amounts
$ 388,296.81
73,493.75
10,011,00
2,374.00
1.053.43
475,228.99
28,757.25
55,968.33
55.179.62
73,975.10
308,497.64
9,893.48
532,271.42
16,408.99
21,917.41
Variance with
Final Budget -
Positive
(Negative)
$ (48,503.19)
(6.25)
1,011.00
2,374.00
(196.57)
(45,321.01)
3.200.75
(1,018.33)
12,447.38
(5,810.10)
(2.469.64)
(193.48)
6,156.58
(1,058.99)
2.59
(95,368.83)
(40,220.83;
92,803.88
11,855.86
2,508.00
2,508.00
95,311.88
14,363.88
(56.95)
(25,856.95',
5,477.99
$
5,421.04
$
(25,856.95'
1 t 1 1 Y 1 1 it 1 i 1 It 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, 2007
Budgeted Amounts
Capital outlay
Equipment
Original
Final
REVENUES
6,000.00
User fees
$ 63,000.00
468,475.00
$ 63.000.00
496,175.00
Concession revenues
77,000.00
Excess (deficiency) of revenues
77,000.00
Equipment sales
7,500.00
7,500.00
(315,725.00)
Miscellaneous
4,250.00
4,250.00
Investment revenue
1,000.00
1,000.00
Transfers in
Total revenues
152,750.00
330,725.00
152,750.00
EXPENDITURES
Current:
Total other financing sources and uses and special items
315,725.00
330,725.00
Contractual services
23,990.00
Net change In fund balances
29,998.00
General operating expenses
58.578.00
58,578.00
Internal service expense
24,346.00
28,346.00
Fund balancesending$
Material and supplies
55,682.00
$ (7,700.00)
56,182.00
Personnel services
292,391.00
300,391.00
Special projects expense
7,780.00
7,780.00
Total current
462.775.00
481,275.00
Debt service:
Interest
5,700.00
8,900.00
Total debt service
5,700.00
8,900.00
Capital outlay
Equipment
6,000.00
Total capital outlay
6,000.00
Total expenditures
468,475.00
496,175.00
Excess (deficiency) of revenues
ever (end.,) expenditures
(315,725.00)
(343,425.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
315,72500
330,725.00
Asset Disposition
Total other financing sources and uses and special items
315,725.00
330,725.00
Net change In fund balances
-
(12,700.00)
Fund balancesbeginning5,000.00
5.000.00
Fund balancesending$
5,000.00
$ (7,700.00)
Actual Amounts
$ 60,968.09
84,286.32
6,541.50
2,68443
1,939.47
156,419.81
24,346.65
59,476.03
27,355 42
61,455.58
288,636.43
3,589.80
464,859.91
8,827.15
8,827.15
6,000.00
6,000.00
479,687.06
(323.267.25)
321,246.01
2,042.50
323.288.51
21.26
5,000.00
$ 5,021.26
Variance with
Final Budget
Positive
(Negative)
$ (2,031.91)
7,286.32
(958.50)
(1,565.57)
939.47
3,66991
5,651.35
(898.03;
990.58
(5 273,58,
11 754.57
4,190.20
16.415.09
72.85
72 85
20,157.75
(9,478.99
2,042.50
(7,436.49
12,721.26
$ 12,721 26
I I i ( 1 1 1 1 Y 1 1 1 1 1 1 1 1 1 1
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, 2007
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 balancesbeginning43,349.87 43,349.67
Fund balancesending$ 43,349.87 $ 43.349.87
29,189.75
43,349.87
$ 73,008.92
Variance with
Final Budget
Positive
(Negative)
3
1,971.40
1,971 40
30.61
1,310.23
(32,621.87'
972.75
(30,308.28'
57,526.63
57,526.63
27,218.35
29,189]5
469.39
469.3D
29,659.05
$ 29,659.05
Budgeted Amounts
Original
Final
Actual Amounts
REVENUES
Internal charges
$ 342,000.00
$ 342,000.00
S 342,000,00
nvesiment revenue
248.00
248.00
2.219.40
Total revenues
342.248.00
342,240.00
344,219.40
EXPENDITURES
Current.
Contractual services
78,549.00
91,107.40
91,156.79
General operating expenses
5,145.00
2,745.00
1,434.77
Material and supplies
12,450.00
24,108.97
56,730.84
Personnel services
115,104.00
115,104.00
114,131.25
Total current
211,248.00
233,145.37
263,453.65
Capital outlay:
Equipment
131,000.00
109,102.63
51,576.00
Total capital outlay
131,000.00
109,102.63
51,576.00
Total expenditures
342,248.00
342,248.00
315,029.65
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 balancesbeginning43,349.87 43,349.67
Fund balancesending$ 43,349.87 $ 43.349.87
29,189.75
43,349.87
$ 73,008.92
Variance with
Final Budget
Positive
(Negative)
3
1,971.40
1,971 40
30.61
1,310.23
(32,621.87'
972.75
(30,308.28'
57,526.63
57,526.63
27,218.35
29,189]5
469.39
469.3D
29,659.05
$ 29,659.05
I i i 1
i 1 1
! ! !
City of Cape Girardeau
Front Management
Statement of
Revenues, Expenditures,
and Changes in Fund Balances
- Budget and Actual
For
the Year Ended June 30, 2007
Variai With
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
tNegativei
REVENUES
Internal charges
S 1,062000.00
$ 1,062.000,00
$ 1,054.171.01
S (7,828.99)
Inxest"Al revenue
4,O00.O0
4000.06
31,O56.64
27,056.64
Total revenues
1,066,000.00
1,066,000.00
1,085.227.65
19,227.65
EXPENDITURES
Current.
Contractual Services
194,100.00
194,700.00
169,875,73
24,824.27
General operating expense,
5,150.00
6,922.00
6,319,87
602.13
Internal service expanse
2,497,00
2,49700
2497,00
MatuCal and suppfles
247,725,00
245,353,00
240,053,38
(700,38)
.n Personnel services
603,393.00
606,39300
.611 83325
(5,440.25)
'falai cirri
;,052,%5.00
',095865.00
1,036,579.23
_
19,285.77
Petit serves:
Interest
10,125.00
10,125.00
7,745,26
2,376.74
principal
7,525-(}0
9,75090
(2,225.W)
Total debt service
10,125.00
17,650.00
17.498.26
151.74
Capital outlay:
Equipment
14,115.00
14,11500
5,620.00
8,49500
fatal scalar away
14,115.00
14.11500
5,622000
8495.00
Total expenditures
1,077,105.00
1.087,630.00
1,059,69749
27,992.51
Excess (defiUency) p°, 2veoues
over(under) expenditures
(11,105.00)
_21,630.00)
25,530,16
_ 47,160.16
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset disposi9on
-
-
186,514.08
186,514,08
Other nort-operattng revenus
-
14,171.78
14,171 78
Transfers out)196.67302)
(198.07302)
Total other financing controls and uvns one Sim
a; ites
-
2,012 fW
2,012 tl4r
Net change in fund balances
(11,105.00)
(21,630.00)
27,543.00
49,173.00
Fani balances --beginning
54.969.63
84509,63
54,909.63
.
Fuad balances --ening
$ 43,804.83
7 33279.67
5 62.452.53
$ 49,173.00
. • • � 1 t 1 1 1 f 1 5 1 t 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, 2007
Debt service:
Budgeted Amounts
Interest
Original
Final
Total debt service:
REVENUES
Internal charges
$ 2,598,121.00
$ 2,598,12100
Miscellaneous
-
Excess (deficiency) of revenues
_
Investment revenue
8,000.00
8,000.00
Total revenues
2,606.121.00
2,606.121.00
(385,000.00)
EXPENDITURES
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Current:
Total other financing sources and uses and special items
Contractual services
2,628,121.00
2.991,121.00
Total current
2,628,121.00
2,991,121.00
(385,000.00)
Debt service:
Interest
Total debt service:
Total expenditures
2,628.121.00
2991,121.00
Excess (deficiency) of revenues
over (under) expenditures
(22
000.00)
(385,000.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Total other financing sources and uses and special items
Net change in fund balances
(22,000.00)
(385,000.00)
Fund balances—beginning
(363,797.09)
(363,797.09)
Fund balances -- ending
$ (385,797,09)
$ (748,797.09)
Actual Amounts
It 2,692,095.02
1,912.38
5,656.76
2,699,664.16
2,865,086.68
2,665,086.68
839.16
839.16
2,865,925.84
(166261 68)
(166,261.68)
(363,797.09)
$ (530,058.77)
Variance with
Final Budget -
Positive
(Negative)
93,974d2
1,912.38
(2,343.24;
93,543.16
126,034.32
126,034.32
(839.16'
(839.16'
125,195.16
218,738.32
218738.32
$ 218,738.32
f Y 1 1 1 i i f 1 1 1 1 1 i
City of Cape Girardeau
Risk Management
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Budgeted Amounts
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances -- beginning
Fund balancesending
725,620.34 725,620.34
$ 725,620.34 $ 725,620.34
Actual Amounts
$ 468.974.18
59,606.35
528,580.53
582,930.37
24,970.79
607,901.16
607,901.16
(79,320.63)
(79,320.63)
725.620.34
$ 646299.71
Variance with
Final Budget -
Posilive
(Negative)
$ (242.82)
7,606.35
7,363.53
(101,713.37;
10,02921
5,000.00
(86,684A6
(86,684.16;
(79,320.63'
(79,320.63',
$ (79.320.63
Original
Final
REVENUES
Internal charges
$ 469,217.00
$ 469,217.00
Investment revenue
52,000.00
52,000.00
Total revenues
521,217.00
521,217.00
EXPENDITURES
Curren
Contractual services
481,217.00
481,217.00
General operating expenses
35,000.00
35,000.00
_ Material and supplies
5,000.00
5,000.00
Total current
521,217.00
521,217.00
Total expenditures
521,217.00
521,217.00
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
Fund balances -- beginning
Fund balancesending
725,620.34 725,620.34
$ 725,620.34 $ 725,620.34
Actual Amounts
$ 468.974.18
59,606.35
528,580.53
582,930.37
24,970.79
607,901.16
607,901.16
(79,320.63)
(79,320.63)
725.620.34
$ 646299.71
Variance with
Final Budget -
Posilive
(Negative)
$ (242.82)
7,606.35
7,363.53
(101,713.37;
10,02921
5,000.00
(86,684A6
(86,684.16;
(79,320.63'
(79,320.63',
$ (79.320.63
i i 1 i It i 1 1 It 1 1 1 1 1 1 it t 1 1
City of Cape Girardeau
Equipment Replacement
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2007
Budgeted Amounts
$ 254.200.00
53,161.00
307,361 00
11,999.00
17,999.00
12313.00
65,000.00
11313.00
250,501.00
250,501.00
345,813.00
(38,452.00)
51,115.00
30,832.00
19,865.00
101,812.00
63,360.00
1.364,412.45
$ 1,427.772 45
Actual Amounts
$ 234,577,64
71.859.64
306,431.28
11,999.00
11,999.00
28.09
12,312.45
65,000.00
11,340.54
249,125.50
249,125.50
344,465.04
(38.021]6)
48,615.00
30.831.51
146.235.00
225.681.51
181,653.15
1,364.412 45
$ 1.552,066.20
Variance with
Final Budget -
Positive
(Negative)
$ (19,622.36;
18,696.64
(923.72'
(28.09
0.55
(27.54'
1,375.50
1,375.50
1,347.96
424.24
(2,500.00
(0.49
126,370.00
123.869.51
124,293.75
$ 124,293.75
Original
REVENUES
Internal charges
$ 254,200.00
Investment revenue
53,161.00
'total revenues
307,361.00
EXPENDITURES
Current:
Material and supplies
Total current
Debt service.
Administrative charges
-
interest
12,313.00
Principal
65,000.00
Total debt service
11,313.00
Capital outlay
Equipment
257,500.00
Total capital outlay
251,500.00
Total expenditures
334,813.00
Excess (deficiency) of revenues
over (under) expenditures
(21,452.00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
22,500.00
Advance repayments
30,832.00
Asset disposition
19,865.00
Total other financing sources and uses and special Items
73,197.00
Net change in fund balances
45,745.00
Fund balances -- beginning
1.364,412.45
Fund balances — ending
$ 1,410,151.45
$ 254.200.00
53,161.00
307,361 00
11,999.00
17,999.00
12313.00
65,000.00
11313.00
250,501.00
250,501.00
345,813.00
(38,452.00)
51,115.00
30,832.00
19,865.00
101,812.00
63,360.00
1.364,412.45
$ 1,427.772 45
Actual Amounts
$ 234,577,64
71.859.64
306,431.28
11,999.00
11,999.00
28.09
12,312.45
65,000.00
11,340.54
249,125.50
249,125.50
344,465.04
(38.021]6)
48,615.00
30.831.51
146.235.00
225.681.51
181,653.15
1,364.412 45
$ 1.552,066.20
Variance with
Final Budget -
Positive
(Negative)
$ (19,622.36;
18,696.64
(923.72'
(28.09
0.55
(27.54'
1,375.50
1,375.50
1,347.96
424.24
(2,500.00
(0.49
126,370.00
123.869.51
124,293.75
$ 124,293.75
ANNUAL FEDERAL FINANCIAL. COMPLIANCE SECTION
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
REP012T ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
I lonorable Mayor and Members ol'thc City Council
Cily of Cape Girardeau, Missom�i
Compliance
We have audited the compliance of City of Cape Girardcau, Missouri, with the types of
compliance requirements described in the U.S. Office of Management and Budget (OMB)
Circular A-133 Comp[iuuce Supplenreut that arc applicable to each of its major federal program
for the ycar cndcd Jwic 30, 2007. City of Cape Girardeau, Missouri's major federal progrmns
arc identified in the summary of auditors' results section of the accompanying Schedule of
Findin,,s and Questioned Costs. Compliance with the requircnrents of laws, regala6011S,
contracts, and grants applicable to each of -its major federal program is the responsibility of City
of Capc Girardcau, Missom-i's management. Our responsibility is to express an opinion on City
of Cape Girardeau, MISSouli's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United Slates of America; the standards applicable to financial audits contained in
Government .-ruching ,Sa"IdRrdS, issued by the Comptroller General of the United Statcs; and
OMB Circular A-133, Audits of Slates, Loch! Governnrenta, and Non-Yro/il Orgo1u_rnions.
Those slandurds and OMB Circular A-133 require that we plan and perform lire audit to obtain
reasonable assurance about whclher noncompliance with the types of compliance requirements
iderned to above that could haee a direct and material effect on a major federal program
occwTcd. An audit includes examining, on a test basis, evidence about City of Capc Girardeau,
Missouri's compliance with those requirements and performing such other pioeedwns as we
considcrcd necessary in the circumstances- We bclicve that our audit provides a reasonable basis
for our opinion. Our audit does not provide a Icgal determination of City of Cape Girardcau,
Missouri's compliance with those requirements.
In our opinion, City of Cape Girardeau, M1Sa0111l complied, in all material respects, with the
_ requirements referred to above that are applicable to each of its major lederal programs for the
ycar cndcd Junc 30, 2007.
109
Internal Control Ovcr 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 nvcr compliance with
requirentcnts that could have a direct and material effect on a major federal program in order to
determine our auditing procedures for the purpose of expressing our opinion on compliance but
not for the purpose of expressing an opinion o 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 nvcr compliance.
Our consideration of -internal control over compliance was for the limited purpose described in
the preceding paragraph and would not necessarily identify all deficiencies in the entity's
internal control that might be significant deficiencies or material Weaknesses as defined below.
However, as discussed below. me identified certain deficiencies in internal control over
compliance that we consider to be significant deficiencies.
A control deficiency in an entity's internal control over compliance exists when the desi"'n or
operation of a control docs not allow ntanagentent 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 Thal
_ noncompliance with a type of compliance requiremart of a federal program that is more than
inconsequential will not be prevented or detected by the entity's internal control. We consider
the deficiencies in internal control over compliance described in the accompanying schedule of
findings and questioned costs as items 07-1 and 07-2 to be significant dchciencies.
A material weakness is a siatificant deficiency, or combination of si mifieant deficiencies, that
results in morc than a remote likelihood that material noncompliance with a t Pc of compliance
requirement of a federal program will not be prevented or detected by the entity's internal
control. We did not consider any of the deficiencies described in the accompanying schedule of
findin,s and questioned costs to be material weaknesses.
City of Cape Girardeau, Missouri's response to the findings identified in our audit are described
in the accompanying schedule of findines 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 I lonorable Mayor, Members of
the City Council, federal awarding ugcncics, and pass-throu_sh entities and is not intended to be
and should not be used by anyone othu than these specified pa tics.
BEUSSINK, HLY, ROE, SLABAUGH &rrSTRODER, L.L.C.
Capc Giranlcuu, MISDUUr'I
lanuary 28,21008
I10
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
16 So. Silver Springs Road
105 ri
Cairo,
Hope
Sycamore
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 C'OMPLIANC'E AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL S1:A I EMENTS PERFORMED
IN ACCORDANCE WITH G0 f'ARNAfEA7 A UDITING STAM)ARDS
Honorable Mayor and Membcis 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 inforrnation of City of Cape
Girardeau, Missouri as of and for the year ended June 30, 2007, which collectively cmnprise the
City's basic financial statements and have issued our report thereon dated January 28, 2008. We
conducted our audit in accordance with auditing standards generally accepted in the United
Slates of America and the standards applicable to financial audits contained in Goicnonent
Arrrlitir+g S7mtdards, issued by the Comptroller General of the United Slates.
,. Internal Control Over Financial Renol ill""
In planning and performing our audit, we considered the City of Cape Girardeau, Missouri's
internal control over financial reporting as a basis for designing our auditing procedures for the
purpose of expressing our opinions on the financial statements, but not for the purpose of
expressing an opinion on the effectiveness of the City of Cape Girardeau, Missouri's internal
.. control over financial reporting. Accordingly, we do not express an opinion on the effectiveness
of the City of Cape Girardeau, Missouri's internal control over Guancial reporting.
A control deficiency exists when the design of operation of a control does not allow managen ant
or enrployces, in the normal course of performing their assigned functions, to prevent of detect
misstatements on a timely basis. A signi Grant cleficicncy is a control deficiency, or combination
of control deficiencies, that adversely affects the City of Cape Girardeau, Missouri's ability to
initiate, authorize, record, process. or report financial data reliably in accordance with genenrlly
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 ntoi: than
inconsequential will not be prevented or detected by the City of Cape Girardeau, Missouri's
intenml control.
A material Wcalmess is a sil,mificant 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 meas for the limited purpose
described in the first paragraph of this section and Would not ncces's-arily 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 Inc
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 mtiith
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
anmounts. I Iowever, providing an opinion on compliance with those provisions was not an
objective of our audit and, accordingly, we do not express such an opinion. The results of our
tests disclosed no instances of noncompliance or other matters that are required to he reported
under Government Auditing S7andards.
"Ihis report is intended solely for the information and use of the Honorable Mayor, Members of
the City Council, federal awarding agcncics, and pass-through entities and is not intended to be
and should not be used by anyone other than these specified parties.
B EE(USSINK, HF.Y, ROE, SFABAA''UG//H S S'I'ROLDER/, L.L.C.
/l 4 R�,, 12..e, Jac3a.g4 tF S�('o!✓PR� L. L. C .
Cape Girardeau, Missouri ddffffff
lanuary 28, 2008
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the Acminpan%i ng Notes to Schedule o1I spendiwres of I'edernl AN'11(IS
An. an lI Par olT[it s Report.
I`edcral
cl'DA
Pro,ram
Fede id GmnmT l'ass-ThrouPh Gianiof Program I Itle
Number
Number
Dishurscmrn Ls
U S. 17HPARTN11iNJ 01 lIIII INII'RIOR'.
Pvsxcd iliruueh the Suite I Iisninc Presn'vaton O17ice
Illslori c Preservation Fund Gants -In -Aid
11904
]9-06-"'1128-606
S
1400
t S ULPARINILNruF'It sIICI
Passed ThrouJl Nlisourn Oepanmenl nl
Mentalllealth-
Gnlorcine lindaraoc Dnnklns Laws Pio-,nam
16 7'7
AOCOd 381091
3
Id 1'-0
Peszod Though the (it' olPoplar Kill. Misnori-
I'asscd Ili rnaCh the Soulhcam Missouri Day
Mask Fmce-
..
PuhlicSalcnPznnerhip mid(011lmnnit%
Pullclns Grants
16710
N:A
0291
Passed Thmuph Mis,+ouri Department of
,.
Puhlic Safe,,
Violent, Aueinsl Women Formula Grmt
16388
31105-VAWA-0036 $
Ii,158
2006-VAAkA-0004 -_...
S,I'-3
.3;_'81
IAillclprnni Vcsi Pnnncrsh ip Prtrerun
16607
N; %
1,538
1 ihrard I3%rnc Memorial hutice Aslstanee Giant
16.7:3
2001-I RX -11139
10.796
To1.AI I S I)ePAISIN1¢N10F.111STI (F
5
70.-6
the Acminpan%i ng Notes to Schedule o1I spendiwres of I'edernl AN'11(IS
An. an lI Par olT[it s Report.
0-154-.ti1_32 9,666
GA( 068 ].190 163.686
101ALI s.DFPAR'l6-ITNT 01' 1RAW'ORLATION S 76167'
The AccaulPnn%ing \uto Iu FCIIedUle of F_vpcnditures of Federal Mcards
.AI'c an Intcgml Pan of This Rcp tt
I
CII%0i CJEC
GI111IiCan.
%IIsSOU 1'I
SCI EI)I HE OF EXPEND ITURES
OF
FRDFR A I- AA1ARDS
Furthe V'earEnded
June
30. 3007
,..
Fed,, If
CFDA
I'roernru
I'de"I GmnrodPass 'touch G1aill.1 I'memnt Title
N011lher
Number
DGIlnrSenlents
Iti. I)iTAli l_UiICN I Of I RANSPOR I iA'I IOA
I ssartial All Sel%Icc Pro3raIII
20
SGASDPP 11590-94
S
169,912
Passed'I III OM II Misouri Deparinlenl of
� Truusporlulinu-
llight%av Pl'vnnin_and ('onsnuction (I)
20201
DP-IiW(002)
F 40.925
STP -(%0(012)
34,000
SIP -150011111)
23(1,(169
SIP 1,00(014)
2,014
SIP-1j00(01i)
6,360
SL lO
Airport Improvement Program
20.106
AIRF N5 -77,A
5 61,562
AIRS 02 < _-'A
27,333
88.191
Alcohol Open Cont atncr Rryufrcn,,IiS
20.607
06-J7-03-14
$ 999
(I7 -1,4 -AL3}
341
1.S44
Alcohol"I-raffic Salcly and Umnk J)"rit'
20.601
06 -17 -OS -13
.S 2,426
Pre%ention Incentive I'I'onram
GA( 066
607
999
4,0111
Shite and ('onununily IliSalcly
20.600
06 -SA -09 2
$ 15570
07 -SA -09-3
30774
06 -154 -AI. I
02,685
06-1`1 -02-30
4.203
07-I'lO'-33
840
.2 -SA -00--2
54.820
0-154-.ti1_32 9,666
GA( 068 ].190 163.686
101ALI s.DFPAR'l6-ITNT 01' 1RAW'ORLATION S 76167'
The AccaulPnn%ing \uto Iu FCIIedUle of F_vpcnditures of Federal Mcards
.AI'c an Intcgml Pan of This Rcp tt
I
City ofCapl Gni idlvu. Missouri
SC'HEDT:LF OF 1-VPIiVDITURES OF ITI)ERAI, AAA`AIMS
For the fear Lndcd Jun, 30, 2007
Fim helcuti0n Giant
I,:m igaicv(\7anagcmcm PedomLlncc Gr&m
"f0'[AL I s. DFPAk'IT1FNT OF 110A4LLAND
SECLRI
TOTAT FEDERAL 'INVARDS
+ (II Idnitilicd nwjor proeiam.
1002-GL14-0022 9.100 91,200
97.043 FM\V-200?-FG-03643 09_031
9?042 N A -14
S 25'. 13
i ,or, pec
The Au'ompan} ing A0111 to Sdadule of Lspendilures 01 1 Amll A,arde
Are au Inteel'a1 Port of'I'his Reporl.
116
Fcdlrel
CFDA
Program
ildCl'aIG1'antol'PaiYThIV0011 t 11'dnlol plUJ anI TMC
!1a1n11C�
�anlhC�
DISIInLSlI11LI115
I-NVIRONMI..NiALPROILCI NAGENCY:
9un'cys. Studies_ Incc'li _alions' and Special
Purpose Giantsll)
66 606
A11957711-01
S
20?,69?
1 S. DI:PAR 'PMIiN'I OI IIOMITAND
st t RI'I'Y':
Passed I hrou_h Missouri State L:nlcigencN
Munngensnl Agency
_
Cflizen Cusps
97.013
2001-Cil-.-'FS-0022
S
I i l
S1a11 DUIIIG4tle Prcparcdncss Equipumnt
support Program
97004
'_0113 - (ii i14-0049
10.30&
Homclond Sccurily Grant
97067
200, -OI -1 0022 )
92,000
Fim helcuti0n Giant
I,:m igaicv(\7anagcmcm PedomLlncc Gr&m
"f0'[AL I s. DFPAk'IT1FNT OF 110A4LLAND
SECLRI
TOTAT FEDERAL 'INVARDS
+ (II Idnitilicd nwjor proeiam.
1002-GL14-0022 9.100 91,200
97.043 FM\V-200?-FG-03643 09_031
9?042 N A -14
S 25'. 13
i ,or, pec
The Au'ompan} ing A0111 to Sdadule of Lspendilures 01 1 Amll A,arde
Are au Inteel'a1 Port of'I'his Reporl.
116
City of Cape Girardeau, Missouri
NOTES TO SCI IEDULE OF EXPENDITURES OF FEDERAL AWARDS
Year Ended June 30, 2007
1. SUMMARY OF SIGNIFICANT ACCOUNTING POI.i('IES
A. Pmllose of Schedule and iteportina Entity:
_ The accompanying Schedule of Expenditures of Federal Awards has been prepared to
comply with OMB Circular A-133. This circular requires a Schedule of Expenditures of
Federal Awards showing total expenditures for each federal financial assistance program
as identified in the Catalog of Federal Domestic Assistance (CFDA) and identification of
programs that hove not been assigned a CFDA number as "Other Federal Assistance'.
The schcdulc includes all expenditures of fcdcral awards administercd by the City.
B. Basis of Presentation:
The schedule is presented in accordance with OMB Circular A-133, which defines
fcdcral financial assistance --assistance that non-federal entities receive or administer in
the font of grants, loans, loan ,uarantecs, propcity (including donated surplus propeIty).
cooperative agreements_ interest subsidies, insurance, food commodities, direct
appropriations, and other assistance, but docs not include amounts received as
.. reimbursement Cor services rendered to individuals."
C. Basis of Accountine:
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 sante basis
of accourttine presented in the financial statements.
117
City of Cape Girardeau, Missouri
SCHFDUI.F. OF FINDINGS AND QUESTIONED COS IS
For the Year Ended June 30,200',
1. StMMARIOF AUDITORS' RESUEfS:
Financial Statements
type ol'Audilors' report issued: Unqualified
y
Internal control over financial reporting:
• Material weaknesses identified? Yes X
no
..
• Reportable conditions idcntitiied that are not
considered to be material weaknesses'? yes X
none reported
Noncompliance material to financial statements
noted", yes X
no
Federal Awards
Internal control over major programs:
Material weaknesses identified? yes X
no
• Reportable conditions identified that are not
considered to be material weaknesses'.' X ves
none repoiled
Type of Auditors' report issued on compliance for major programs: Unqualified
Any audit findings disclosed that arc rcquircd to be
y
reported in accordance with Section 510fa) of Chcular
A -I23? X yes
no
Identification of major programs.
CPDANumber Name offederal Proeram
30.205 1llghwa)' Planet ng and COnStrnetlon
60.606 SurvevS, Studies, Im esugations and Special
Purpose Grants
W
Dollar threshold used to dislineuish
between type.A and type D programs: 5300,000
Audirec quali(iccl as lo%+ -risk auduccr. X yes
no
its
2. FINANCIAL STATEMENT FINDINGS:
No liudiugs or questioned costs were noted that at required to be reported.
3. FF.DFRAI. .AWARD FINDINGS .AND OUFSTIONFD COSTS:
07-1 The City does not have internal controls in place to meet procurement, suspension,
and debarment rcquircmcnls.
Pro,ratn: Surveys, Studies, Investigation and Special Pwpose
Giants (CFDA No. 66.606) and Ilichway Planning and
CUnstlaction (CFDA No. 20205)
Criteria: Internal controls must be in place to ensure compliance
with the Office of Management and Budget (OMB)
Circular A-133 compliance rcquircmcnls for
procurement, suspension, and debarment.
Condition: The City did not have internal controls in place for
checking file suspension and debmnmcnt list for
contracts awarded for grant purposes.
Questioned Costs: None.
.. Context Expendifures under contracts awarded without
followine procurement, suspension, and debarnent
requirements were $437,766 for the fiscal year.
Effect: The lack of internal controls could cause the City to not
be in compliance with procurement, suspension, and
debarment requirements.
Causc: Management oversight.
Recommendation: To develop internal controls to ensure procurement,
suspension, and debarment requiremmrits arc followed
on a timely basis.
Manaeemeni s Response: During Fiscal Year 2007, the City implemented
procedures to check COnn'aCLorS, lint did not implcmcnt
procedures to check subconnactars. PI'oCCdureS have
CONN been implemented requiring all contractors and
subcontractors to be checked against the suspension and
deburnem list. Procedures have been implemert(cd that
rcquirc dcpartnunts applying for grants to notify the
City's Finance Director when applications arc
submitted and to; NN ,a'd copies of all grant documents to
119
the Finance Director when grant awards are received.
The Finance Department of the City rti'ill be responsible
to determine which grants are federal awards, what
procedures are required to comply with each grant
agra;ment, and to insure compliance with these
requirements.
07-2 The City does not have internal controls in place to meet the Davis -Bacon Act
requirements.
120
Program:
Historic Bridge Restoration (CFDA No.
20.205).
Criteria:
Internal controls must be in place to ensure compliance
with the Office of Management and Budget (OMB)
Circular A-133 compliance requirements for the Davis-
"
Bacon Act.
Condition:
The City did not have internal controls in place for
lcsting prevailing wage in a timely manner and
following up with conlraetois when provided with
inadequate documentation.
Questioned Costs:
None.
Context:
Expenditures under contracts which did not provide for
testing of prevailing wages in a timely manner ry crc
$5,811 Cot the fiscal year.
Effect:
The lack of internal control could cause the City to not
be in compliance with the Davis -Bacon Act.
Causc:
Management oversight.
Recommendation-
To development internal controls to assure the Davis -
Bacon Act requirements are followed on a timely basis.
Managemcnt's Response:
Procedures have been implemented that require
departments applying for g ants to notify the City's
Finance Director when applications are submitted and
forward copies of all grunt documents to the Finance
Director when creat awards are rcecived. The Finance
Depurunent of the City will be responsible to determine
which grants arc 1cdcral awards, what proccdures arc
required to comply with each grant agreement, and to
insure compliance with these raluirements.
120
City of Cape Girardeau, MISSon=ri
SUMMARY SCHFDLLF OF PRIOR AUDIT FINDINGS
For the Year Ended Jtme 30, 2007
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
06-1 The City did not complete financial status reports and progress report as required
Ilya brant a"reemcnt.
Status: Implemented,
06-2 The City did not check the suspension and debarment list Cor contracts ak+'arded
for grants.
Status: Partially implemented, see f nding 07-1
121