HomeMy WebLinkAbout1990-1991.AuditReportFINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT
CITY OF CAPE GIRARDEAU, MISSOURI
June 30, 1991
CONTENTS
r
Page
FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT
6
GENERAL PURPOSE FINANCIAL STATEMENTS
COMBINED BALANCE SHEET - ALL FUND TYPES AND
LONG-TERM DEBT ACCOUNT GROUP
g
COMBINED STATEMENT OF REVENUES AND EXPENDITURES
AND FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
11
COMBINED STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL - GENERAL
AND SPECIAL REVENUE FUND TYPES
12
COMBINED STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL - DEBT SERVICE
AND CAPITAL PROJECTS FUND TYPES
13
COMBINED STATEMENT OF REVENUES, EXPENSES AND
RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES
14
COMBINED STATEMENT OF CASH FLOWS - ALL
PROPRIETARY FUND TYPES
15
NOTES TO FINANCIAL STATEMENTS
16
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS
GENERALFUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET
(GAAP BASIS) AND ACTUAL
39
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
40
COMBINING STATEMENT OF REVENUES AND EXPENDITURES
AND FUND BALANCE
41
CONVENTION/TOURISM SPECIAL REVENUE FUND - STATEMENT
OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL
42
CONTENTS -CONTINUED
SPECIAL REVENUE FUNDS - Continued
■
DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND -
STATEMENT OF REVENUES AND EXPENDITURES -
+
BUDGET (GAAP BASIS) AND ACTUAL
43
PARKS AND RECREATION SPECIAL REVENUE FUND -
+
STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
44
HEALTH SPECIAL REVENUE FUND - STATEMENT OF REVENUES
+
AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL
45
MOTOR FUEL TAX SPECIAL REVENUE FUND - STATEMENT OF
+
REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL
46
+
CAPITAL IMPROVEMENTS SALES TAX SPECIAL REVENUE FUND -
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET
(GAAP BASIS) AND ACTUAL
47
+
LIBRARY SPECIAL REVENUE FUND - STATEMENT OF
REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL
48
+
FLOOD PROTECTION SPECIAL REVENUE FUND - STATEMENT OF
REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL
49
+
VISION 2000 SPECIAL REVENUE FUND - STATEMENT OF
REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
+
AND ACTUAL
50
DEBT SERVICE FUND
<,
DEBT SERVICE FUND - STATEMENT OF REVENUES AND
EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL
51
+
CAPITAL PROJECTS FUNDS
+
COMBINING BALANCE SHEET
52
COMBINING STATEMENT OF REVENUES AND EXPENDITURES
AND FUND BALANCE
53
■
CONTENTS -CONTINUED
CAPITAL PROJECTS FUNDS - Continued
GENERAL CAPITAL IMPROVEMENT FUND - STATEMENT OF
REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL
54
CORP FLOOD CONTROL CAPITAL PROJECT FUND - STATEMENT
OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL
55
STREET IMPROVEMENTS CAPITAL PROJECT FUND - STATEMENT OF REVENUES
AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL
56
FAU STREET GRANTS FUND - STATEMENT OF REVENUES AND
EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL
57
COMMUNITY DEVELOPMENT BLOCK GRANT FUND - STATEMENT OF
REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL
58
PARK IMPROVEMENTS FUND - STATEMENT OF REVENUES AND
EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL
59
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
60
COMBINING STATEMENT OF REVENUES, EXPENSES AND
RETAINED EARNINGS
61
INTERNAL SERVICE FUNDS
COMBINING BALANCE SHEET
62
COMBINING STATEMENT OF REVENUES, EXPENSES AND
RETAINED EARNINGS
63
TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEET
64
SINGLE AUDIT SECTION
INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF FEDERAL
,.
FINANCIAL ASSISTANCE
66
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
67
CONTENTS -CONTINUED
SINGLE AUDIT SECTION - CONTINUED
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH LAWS
AND REGULATIONS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT
AUDITING STANDARDS
69
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH THE
GENERAL REQUIREMENTS APPLICABLE TO MAJOR AND NONMAJOR
FEDERAL FINANCIAL ASSISTANCE PROGRAMS
70
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH THE
_
SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL
FINANCIAL ASSISTANCE PROGRAM
71
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH SPECIFIC
REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL
FINANCIAL ASSISTANCE PROGRAMS TRANSACTIONS
72
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL
STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL
STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
73
INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL
STRUCTURE USED IN ADMINISTERING FEDERAL
FINANCIAL ASSISTANCE PROGRAMS
75
SUPPLEMENTAL INFORMATION
STATEMENT OF INSURANCE COVERAGE
79
KERBER,ECK & BRAECKEL
I'I':NTI FI F.D PO It LIC ACCOONTA Nt3
1221 HwiWrvev
Cape Prardeeu. Mcscun L31.r C6 2
_1a-334 Wtltl Fax 31485E 3962
.� '.o Gua.. LL Mitaam
Mi-1ae,Wr--
S Lowe.Nl—Al
SP'-faa 1111-ia
Independent Auditors'. Report
Honorable Mayor and Members of the
+ City Council
City of Cape Girardeau, Missouri
We have audited the accompanying general purpose financial statements and the combining
and individual fund and account group financial statements of the City of Cape
Girardeau, Missouri as of June 30, 1991, and for the year then ended as listed in the
table of contents. These financial statements are the responsibility of the City of
Cape Girardeau, Missouri's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards,
Government Auditing standards, issued by the Comptroller General of the United States,
and the provisions of Office of Management and Budget Circular A-128, Audits of State
and Local Governments. Those standards and OMB Circular A-128 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 opinion.
The general purpose financial statements referred to above do not include the General
Fixed Asset Account Group, which should be included to conform with generally accepted
accounting principles. The amount that should be recorded in the General Fixed Asset
Account Group is not known.
In our opinion, except for the effects on the financial statements of the omission
described in the preceding paragraph, the general purpose financial statements referred
+ to above present fairly, in all material respects, the financial position of the City of
Cape Girardeau, Missouri as of June 30, 1991, and the results of its operations and cash
flows of its proprietary fund types for the year then ended in conformity with generally
accepted accounting principles. Also, in our opinion, the combining and individual fund
+ and account group financial statements referred to in the first paragraph present
fairly, in all material respects, the financial position of each of the individual funds
and account groups of the City of Cape Girardeau, Missouri as of June 30, 1991, and the
results of operations of such funds and cash flows of individual proprietary funds for
"� the year then ended in conformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose
+� financial statements taken as a whole and on the combining, individual fund, and account
group financial statements. The accompanying financial information listed as supporting
schedules in the table of contents is presented for purposes of additional analysis and
is not a required part of the financial statements of the City of Cape Girardeau,
Missouri. Such information has been subjected to the auditing procedures applied in the
audit of the general purpose, combining, individual fund, and individual account group
financial statements and, in our opinion, is a fairly stated in all material respects in
relation to the financial statements of each of the respective individual funds and
account groups, taken as a whole.
Cape Girardeau, Missouri
' September 26, 1991
7
GENERAL PURPOSE FINANCIAL STATEMENTS
0
1 � f 1 Y
1
i
1
1
1 1
i
c
1
1 i
i i
t►
City of Cape
Girardeau,
Missouri
r
COMBINED
BALANCE
SHEET
ALL FUND
TYPES AND
LONG-TERM DEBT ACCOUNT
GROUP
June
30, 1991
Fiduciary
Account
Governmental
Fund Type=
Proprietary
Fund Types
Fund TApe
Group
General
Special
Debt
Capital
Internal
Long -Term
Tptals (Memorandum
Only)
General
Revenue
Service
Pro sets
Enterprise
Soli.
Agency
Debt
6-30-91
6-30-90
ASSETS
Cash and investments (note B)
156,976
1.799A 29
558,832
1,825 719
40,070
621,201
408,870
0
6,01.899
3.804.402
Cash and Investments- designated (note B)
236,976
119,151
5,196,233
81 U7
500.037
37
0
0
12,015,733
]812.820
Rec va0les, net of all -on., lar
doubllulreamenblee
Real estate, personal properly,
and to em hauls laaes(not. 0)
58,141
35,402
19,380
0
0
0
D
0
112,923
100,696
Salve lax
425,889
100,748
0
0
0
0
0
0
526637
470,276
Franchise laxer
1013,625
0
0
0
0
0
0
0
1,013,625
1034.008
Hotel -m are lax receivable
0
22,620
0
0
0
0
0
0
22.620
23.987
Restaurant tax receivable
o
28,141
0
0
0
0
0
0
20.141
26.805
Utility charges receivable
o
0
0
0
432,437
0
0
D
432.437
300,065
N 5pectal assessments ar,stable
17,989
0
651.851
390,633
97,463
0
0
0
1,152956
578,167
I merest recaivable
1,783
6.998
10,022
29,743
21,545
1,610
0
0
71,701
116,142
Other receivables
527
710
0
0
20,410
10,828
D
0
32,491
56,277
Notes receivable
_. 0
o
D
180.228
0
0
0
0
180,228
203,260
intergovernmental receivables
"metuel tax
0
46,675
D
0
0
0
0
0
46,675
50016
Motorve Ncle license lees
0
10629
0
0
0
0
0
D
10,629
12292
Motorve Ncls sales tax
0
10,812
0
0
0
0
D
0
10,818
12.311
Grants receivable
12,449
0
0
18,158
100.143
0
0
0
210,750
125.320
Due from other funds (note J)
550,034
0
27,934
0
0
0
D
0
577,y68
665.015
Advances to other fund, (note J)
898713
0
D
0
0
246,504
0
0
1,145,217
090,713
Inventories (note A6)
0
0
0
0
5,078
11.029
D
0
16,107
14.057
Reslnded assets (note B)
0
0
0
0
2657,212
0
0
0
2,654.212
2,951,242
Present expenses
45,283
16,909
0
0
139790
133,824
0
0
335.006
301,591
Flied assets, not of accumulated
depreciation (note D)
0
0
0
0
20.299.496
611,042
0
0
21,110,538
19,049,514
Amount available In Fare Serves Fund
0
0
0
0
D
0
0
5,773632
5,773,632
4,455,671
Amount to be provided for retirement
of general long - term debt
0
0
0
0
0
0
0
14731,863
14.731863
6,454,366
Amount o be afforded for future
paymeal of compenseled absenres
o
0
0
0
0
0
0
423702
423,702
366,973
Total Assets
4016389
2197,232
__6,164252
9206978
24.392309
1036075
400870
20929,197
69,453302
49 364 786
THE NOTES TO TIIE FINANCIAL STATEMENTS
ARE AN INTEGRAL PART OF THIS
STATEMENT.
i Y t 1 I
1
1
/
1
i 1
f
it
1
1 1
Y
1 Y
City or
Cape Girardeau.
Warden
COMBINED BALANCE
SHEET
ALL FUNDTYPES
AND LONG-TERM
DEBT ACCOUNT
GROUP
June 30. 1991
Fiduciary
Account
Governmental Fun(1 Typos
Proprietary
Fund Types
Fund Tye
Grind
Genoral
Special
Debt
Capital
Internal
Long -Term
Totals (Memorandum Only)
General
Revenue
Service
Proecls
Enterprise
Service
Avenue
Debt
6-30-91
6-30-90
LIABILITIES AND FUND EQUITY
Accounts payable
184,485
95,448
2A72
104,172
473.170
311758
1,233
0
1,172,738
637,978
Accrued liabilities
Salades,payroll laxer and benefits
112.352
30,974
0
0
95,043
32,294
388.153
423.701
1,082.517
872.195
Interest payable
0
0
12.062
0
174,318
0
0
0
186,380
167,692
Other liabilities
3.492
8.017
0
0
23,657
0
19,404
0
55,450
130,819
Due to other gov,nmenls
0
0
0
76,500
0
0
0
0
76,500
86,429
Due to other funds (note J)
0
0
0
2fi665
551,303
0
0
0
577,968
665,015
Advance hour In., trend (note J)
0
59,713
0
0
1,085,504
0
0
0
1,145,217
898713
Current portion of lorry-leim debt (note E)
0
0
0
0
537.497
0
0
0
537,497
526.358
Long-term debt net of current added
Rev. nue hands pd,bUa(not. E)
0
0
0
0
1,215.000
0
0
0
1,215,000
1255,000
Lease purchase obligation payable (note E)
0
0
0
0
143.140
0
0
51,251
194,391
406,800
'p Lease purchase heads payable (note by
0
0
0
0
5,450.981
0
0
12,634 245
18.085,225
7.845,729
General obligation bonds payable (note E)
0
0
0
0
0
0
0
4,240.000
4,240,000
4,390,000
General otedgatlon refunding
bonds payade (note F)
0
0
0
0
0
0
0
3,580.000
3,580,000
3,580,000
Deferred revenues
230,417
113,859
676,006
413,801
57B
0
0
0
1,434,741
842,206
Total liabilities
53Q746
308,811
690,620
621,138
9,750,191
344052
408,870
20,929,197
33,583,625
22.305214
Contributed capital
-
-
-
-
3,793,469
0
-
-
3,793,459
2,97.352
Retained earnings
Reserved
-
-
-
-
10,000
0
-
-
10.000
11.667
Unreserved
-
-
-
-
10,838649
1,492.023
-
-
12.334672
12.276890
Fund Balance
Reservetl
1,023.342
54,010
5,773,632
6.486]14
-
-
-
-
13.336,698
7595,894
Unreserved
2464.301
1.834,411
0
2.100.126
6.398.830
4617,769
Total fund equity
3487,643
1888,421
5,773,632
8.505.040
14.642.118
1,492.023
0
0
36,869,677
27,079,572
Total liabilities and
fund equity
4`18 _
389
2197,232
6,464252
9206978
24,392,309
1836075
408870
20929197
69053 `302
49_184-786
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART Or THIS STATEMENT.
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
r
CRY of Cape Girardeau, Missouri
COMBINED STATEMENT
OF REVENUES
O�5
AND EXPENDITURES AND FUND
BALANCES
ALL
TYPES
FOR
FISCALGOVERNMENTALY
THE FISCAL
YEAR ENDED JUNE
RENDED
30, 1991
GOVERNMENTAL FUND TYPES
r
TOTALS
SPECIAL
DEBT
CAPITAL
(MEMORANDUM
GENERAL
REVENUE
SERVICE
PROJECTS
ONLY)
REVENUES
r
Taxes
7,639,729
2,231,931
246,342
0
10,118,002
Licenses and permits
578,505
0
0
0
578,505
Intergovernmernal
222,428
837,760
8,282
55,671
1,124,141
Charges for services
245,533
153,231
0
0
398,764
Interdepartmental services
15'380
0
0
0
15'380
Fines and forfeitures
497,428
11,000
0
0
508,428
Miscellaneous
85,606
44,937
0
6,500
137,043
Interest
180,296
188,586
368,035
501,803
1,238,720
"
TOTAL REVENUES
9,599,905
3,467,445
622,659
563,974
14,253,983
EXPENDITURES
Cur ent
C-ene'al government
1,106,312
376,655
0
0
1,482,967
Transportation
1,445,829
216,424
0
0
1,662,253
Public sairty
5,163960
0
0
0
5,163,960
r
Hcakh
0
88,800
0
0
88.800
Carl
86,814
0
0
0
86.814
Culture and recreation
0
1,496,404
0
0
1.496,404
Community denelopmertt
611,516
63,521
0
0
675,037
r
Interdeparmental
194,606
0
0
0
194.606
Capital outlay
0
0
0
4,377,364
4,37,364
Debt service
Principal
97,840
0
597,47
0
695317
Interest and fiscal charges
7,192
133
1,096,155
318,538
1,422.018
_
TOTAL EXPENDITURES
6,714,069
2241 937
1,693.632
4,695,902
17,345,540
EXCESS (I)CFICIENCY) OF REVENUES
r
OVER (UNDER) EXPENDITURES
885,836
1.225,508
(1,070,973)
(4,131,928)
3.091,557
OTHER FINANCING SOURCES (USES)
Transfers in
582,531
80'000
1,126,085
1,203,496
3,712,112
r
Tmnsler out
(1,149,932)
(2,128,006)
0
(484,173)
(3,762,111)
Proceeds of debt financing
0
0
1,074,758
9,216,017
10,290,775
Proceeds T. fixed assets
25,774
0
0
77,452
103,226
Special assessments
371
0
176,215
80,965
257,551
Gain on sale of securities
0
0
11,875
0
11875
r
TOTAL OTHER FINANCING SOURCES
(USES)
(541,256)
(1,328,006)
2388.933
10093,757
10,613.428
r
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
a
OTHER FINANCING USES
344,580
(102,496)
1,317,960
5,961,829
7,521,871
FUND BALANCE AT BEGINNING OF YEAR
3,143,063
1,990919
4,455672
2,624,011
12,213665
r
FUND BALANCE AT END OF YEAR
3487643
1888421
5.773632
8585840
19735536_
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
12
City of Cape G randean, Missouri
COMBINED STATEMENT
OF
REVENUES AND EXPENDITURES
BUDGET (GAAP BASIS) AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES
FOR THE
FISCAL YEAR ENDED JUNE 30. 1991
GENERAL FUND
SPECIAL
REVENUE
Fi1NI)%
VARIANCE
VARIANCE
FAVORABLE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
BUDGET
ACTUALILFAVORMI
F)
REVENUES
Taxes
],629,292
]179
10.437
2213,161
2,231,931
18770
'M
licenses And permits
561000
578,505
10,505
0
0
0
Inlerg,Aornu nbl
224,051
22,428
(2.423)
853633
Bd)Id0
(12873)
Charges Tor servueii
29,595
245,503
17,938
154.100
153,231
(069)
Ioterde,admoutal sttvkes
155,062
150.380
(4,602)
0
0
0
Hnes and lotlellures
469,775
497,428
27,653
7 WO
11,000
3200
M6aelbt,."
101,103
85,606
(15,494)
16,150
44,937
28.787
Interest
191,150
180.296
10,834
190,246
188586
_ (,880)
TOTAL REVENUES
9,558,805
9.599.905
41,103
3432090
3,467,446
;nt155
EXPENDITURES
Ouomt
CXe'el government
1162,756
1106,312
56,444
336723
376,655
(39932)
Transp.1ahi,u
1466,241
1,44582]
20,412
235,404
216.424
18980
Public safety
5.244,062
5,163,950
80,102
0
0
0
Health
0
0
0
90.030
88,800
1,230
Cemeley
.6,311
0APT
1;11
0
0
0
Culwre and reoaaticn
0
0
0
1497,946
1496104
1,512
a
Coa IN Oevalopm H3
711,154
611,516
99,630
76,872
03521
13351
Interdefeauia llal
201.659
194,606
7.053
9
0
0
Debt servee
Rinciry I
97,840
97.040
0
0
0
0
Interest and fiscalc,,,as
7.192
7,192
0
0
133
(133)
TOTAL EXPENDITURES
8.979259
8714069
265,190
_2_236.9)5
2,241,937
X19621
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
579,546
885,835
306,290
1.195 115
31 Ilii
_t,Y15,5.00
OTHER FINANCING SOURCES (USES)
Transfers In
502531
582531
0
003,000
8m 000
0
Train she out
(1.148886)
(1,14989')
(946)
(2.128,0%)
(2128,050)
0
Prmeeds from fixed assel5
7398
25,774
18,386
0
0
0
Specal azses5ma115
370
371
1
0
0
0 -
TOTAL OTHER FINANCING SOURCES
(558 697)
(5412%)
17,441
(1328,006)
(11,328005)
0
(USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
20849
044.580
3731
(132.691)
(102 4081
30393
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
12
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
13
CRY of Cape Girardeau, Milani
COMBINED STATEMENT
OF
REVENUES AND EXPENDITURES
BUDGET (GAAP BASIS) AND ACTUAL —DEBT SERVICE AND CAPITAL PROJECTS
FUND
TYPES
FOR THE
FISCAL YEAR ENDED JUNE 30, 1991
DEBT SERVICE
FUND
CAR
I'M PROJECTS FUNDS
VARIANCE
VARIANCE
ex
FAVORABLE
FAVORABLP
BUDGET
ACTUAL (UNFAVORABLE)
BUDGET
ACTLIN_
(UNFAVDHATIL
REVENUES
Toes
250,030
246,342
(3,688)
0
0
0
i
Intergavernmenbl
e.]0]
8,2a2
(425)
55,671
51ns,
0
Morels naous
0
0
0
0
fiill0
6500
Interest
349,687
66,035
10,340
59,410
501,003
(25,G0])
TOTAL REVENUES
608024
622659
14,235
589,001
563,9]4
(11, in )
EXPENE) I URES
Curtail
Wpi6louipy
0
0
0
4,803.105
4,37].361
425 7Q
FYni
59],4]]
597677
0
0
0
0
Inie.est and fiscal shmges
1.033.637
I,OfRe
(2,516)
304,0]0
31859➢
I_]6L➢t
TOTAL EXPENDITURES
1,691,114
1,693,632
(2,518)
5,10],9]8
4,695,902
412,0]4
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(1082690)
(10]0,9]3)
1179
(4521,895)
54131528)
all In,
OTHER FINANCING SOURCCS (USES)
Tma9lasln
1.124 739
1,126,0M
LM6
1,202549
1 20490
Troares out
s)
0
0
(41
(21,1]3)
IE
[I 3161
Proceeds
10]4759
10]4,]59
(0
921551]
ri)17
9,216,01]
0
fof rom fixed
edasset
mmnse assess
0
0
0
65.000
]]452
55111
3'aiProceeds
Special assesceser
135,000
90215
41,215
74.584
80,965
6➢b1
Gain rn sale cf secwiiles
0
11,075
11.675
0
T0TAL 01 HER FINANCING SOURCES
(USES)
2'3344%
2398993
54,435
10095,323
10093 757
(1}nI,
r
_
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
ex
1251639
161/,939
66152
5 570A2
5901621
991401
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
13
a Ptd l
City of Cape Girardeau, Missouri
COMBINED STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
+ ALL PROPRIETARY FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
-
FUND TYPES
(263,735)
OPERATING REVENUES
ENTERPRISE
Fedxal gents
149,380
State grants
0
Residential charges
1.964.281
Commercial charges
1,500,711
Transfer station charges
153,960
Equipment sales
9.839
Concession revenues
+
Golf course tees
239,586
Other lees and charges
61,931
Interdepartmental services
1,170
Rental revenue
87,218
Donations
+
Other miscellaneous
8,767
lot erestincome
300,141
OPERATING EXPENSES
4,536 740
Personnel services
1572,400
Materials and supplies
115,910
Contractual services
+
General operating expenses
162,722
Specul pnderce expense
45,819
Internal service expenses
403,845
Depreciation expense
1,009 661
97265
OPERATING INCOME (LOSS)
NON-OPERATING EXPENSES
Issuance cost amortization
ulerestand Nandling costs
INCOME(LOSS) BEFORE OTHER
FINANCING SOURCES (USES)
OTHER FINANCING SOURCES (USES)
Tlanslers to
Sales 01 feed assets
Sales al ImesMen(s
Compensation for damages
NET INCOME (LOSS)
RETAINED EARNINGS (DEFICM AT
BEGINNING OF YEAR
RETAINED EARNINGS (DEFICIT) AT
END OF YEAR
PROPRIETARY
FUND TYPES
(263,735)
INTERNAL
ENTERPRISE
SERVICE
149,380
0
0
0
1.964.281
0
1,500,711
0
153,960
0
9.839
0
55,756
0
239,586
0
61,931
a
1,170
1.643]82
87,218
0
4,000
a
8,767
m3
300,141
44 946
4,536 740
1,888,831
1572,400
320,617
115,910
389,412
888865
766 914
162,722
3,611
45,819
0
403,845
2,594
1,009 661
97265
4,196.422
1,580,413
338.318
3U8,4 18
19.283
0
55L040
940
670,323
940
(332,005)
307,478
50,000
0
10,185
816
8.085
a
0
7560
60,270
8,376
(263,735)
315,854
11,112.984
1,176,169
10.846649
1,492,023
TOTALS
(MEMORANDUM ONLY)
1990-1991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAI. PART OF THIS STATEMENT.
14
149,380
0
964,281
1,500.711
153,968
9,839
55.756
239,586
61,931
1.844,952
8],218
4,000
8,870
345.087
893,017
505.322
"fi 979
166,333
45.819
406.439
1.106926
5.778.835
646.736
19,283
651,988
671.263
(24527)
50000
11,001
B, one
7,560
76.646
52,119
12 288 553
12,340672
City of Cape Girardeau, Missouri
COMBINED STATEMENT OF CASH FLOWS -
ALL PROPRIETARY FUND TYPES
For the fiscal year ended June 30, 1991
+
Increase(Decrease) in Cash and Cash Equivalents
Cash flows from operating activities:
Operating income(loss)
$
646,736
Adjustments to reconcile operating income to
net cash provided by operating activities:
Depreciation
1,106,926
Change in assets and liabilities'.
(Increase) decrease in accounts receivable
(314,631)
(Increase) decrease in inventory
(2,050)
(Increase) decrease in prepaid expenses
(25,061)
Increase (decrease) in accounts payable
454,476
Increase (decrease) in accrued liabilities
(13,614)
Net cash provided by operating activities
1,852,782
Cash flows from noncapital financing activities:
Operating transfers in from other funds
761,100
'
Operating transfers out to other funds
(262,169)
Net cash provided by noncapital financing activities
498,931
Cash flows from capital and related financing activities:
0
Proceeds from issuance of lease purchase bonds
1,052,926
+
Principal paid on revenue bonds
(35,000)
Principal paid on lease purchase bonds
(640,448)
Principal paid on lease purchase obligations
(124,710)
Interest paid on bonds and obligations
(664.158)
-'
Proceeds from sale of city propeny,
18,561
Purchase of fixed assets
_Li,951,836)
Net cash provided by capital and related
+
financing activities
(2,344,665)
Cash flows from investing activities:
Interest on investments
0
+
Proceeds from sale of investments
8,085
Net cash provided by investing activities
8,085
Net increase in cash and cash equivalents
15,133
+
Cash and cash equivalents at beginning of year
3,802,024
Cash and cash equivalents at end of year
$
.3,817 157.
Cash paid during the year for interest
$
664,836
Non-cash capital financing activities
Contributions of fixed assets
$
1,216,117
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
15
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE A - SUMMARY OF ACCOUNTING POLICIES
The City of Cape Girardeau, Missouri operates under a charter which went into effect
April 12, 1982. The City operates under a Council -Manager form of government and
provides the following services as authorized by its charter: public safety (police
and fire), highways and streets, sanitation, health and social services, culture -
recreation, public improvement, planning and zoning and general administrative
services.
a The financial statements of the City have been prepared in conformity with generally
accepted accounting principles (GAAP), except they do not include the General Fixed
Asset Account Group which is required by GAAP, as applied to government units. The
Governmental Accounting Standards Board (GASB) is the accepted standard-setting body
for establishing governmental accounting and financial reporting principles. The more
significant of the government's accounting policies are described below.
. 1. Reporting Entity
In evaluating how to define the City, for financial reporting purposes, management
has considered all potential component units. The decision to include a potential
component unit in the reporting entity was made by applying the criteria set forth
in GAAP. The basic --but not the only-- criterion for including a potential component
unit within the reporting entity is the governing body's ability to exercise oversight
responsibility. The most significant manifestation of this ability is financial
,. interdependency. Other manifestations of the ability to exercise oversight
responsibility include, but are not limited to, the selection of governing authority,
the designation of management, the ability to significantly influence operations and
accountability for fiscal matters. The other criterion used to evaluate potential
component units for inclusion or exclusion from the reporting entity is the existence
of special financing relationships, regardless of whether the City is able to exercise
oversight responsibilities. Based upon the application of these criteria, the
following is a brief review of each potential component unit addressed in defining
the government's reporting entity.
Based on the foregoing criteria, the financial statements of the following entities
are included in the accompanying financial statements.
Cape Girardeau Public Library - The City Council appoints the Library Board and
approves the budget. The operations of the Library are reported in the Library Fund,
a special revenue fund.
Downtown Business District - The City Council appoints the Downtown District Board,
and approves the budget. The operations of the District are reported in the Downtown
Business District Fund, a special revenue fund.
Cape Girardeau (Missouri) Public Facilities Authority Activity - As described in Note
E, the City of Cape Girardeau, Missouri has entered into two lease agreements with
the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The CGPFA is a
not-for-profit corporation organized and existing under Chapter 355 of the Revised
Statutes of Missouri. The CGPFA board of directors consist of city officials and city
council members. Due to the significant city influence, the activities of the CGPFA
are included in the financial presentation of the City. The corporation was used to
execute the bond indentures for the purpose of issuing and securing the Series 1988
Bonds, Series 1989 Bonds and limited additional bonds. These bonds were used to
finance construction and improvements to sewer, solid waste, street and other capital
improvement projects. The bond payments are obligations of the CGPFA. The CGPFA has
entered into a Lease Purchase Agreement with the City from which the lease payments
will be used solely to retire the debt.
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
s NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued
1. Reporting Entity - Continued
The following entities are not part of the City's reporting entity because the City
exercises no oversight responsibility and has no accountability for fiscal matters.
The significant factors for exclusion are: the appointed board members have no
continuing relationship with the City; the board designates management; the City
cannot significantly influence the operations; the board has sole budgetary authority;
the entities control surpluses and deficits; the City is not legally or morally
obligated for the entities debt; and the entities are responsible for fiscal
management. In this situation, the preceding factors are conclusive in contrast with
the Following factors indicating inclusion: the entities operate within the
boundaries of the City and the City appoints members to the board.
Based on the criteria above, the following entities are excluded from the financial
,. statements of the City, the Downtown Redevelopment Corporation and the Show Me Center
Board of Managers.
2. Fund Accounting
The accounts of the City are organized on the basis of funds and account groups, each
of which is considered a separate accounting entity. The operations of each fund are
accounted for with a separate set of self -balancing accounts that comprise its assets,
,. liabilities, fund equity, revenues and expenditures or expenses as appropriate.
Government resources are allocated to and accounted for in individual funds based upon
the purposes for which they are to be spent and the means by which spending activities
are controlled. The various funds are grouped, in the financial statements in this
report, into fund categories.
GOVERNMENTAL FUND TYPES
General Fund - The General Fund is the general operating fund of the City. All
financial resources, except those required to be accounted for in another fund,
are accounted for in the General Fund.
Special Revenue Funds - Special Revenue Funds are used to account for the
proceeds of specific revenue sources (other than expendable trust or major
capital projects) that are legally restricted to expenditures for specified
purposes.
Debt Service Fund - The Debt Service fund is used to account for the
accumulation of resources for, and the payment of, general long-term debt
principal, interest and related costs.
Capital Project Funds - Capital Project Funds account for financial resources
to be used for the acquisition or construction of major capital facilities,
,r which are not financed by Proprietary Funds and Trust Funds.
PROPRIETARY FUND TYPES
Enterprise Funds - Enterprise Funds are used to account for operations that are
financed and operated in a manner similar to private business enterprises -
where the intent of the governing body is that the costs (expenses including
depreciation) of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges; or
17
+ City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued
where the governing body has decided that periodic determination of revenues
collected, expenses paid, and/or net income is appropriate for capital
+ maintenance, public policy, management control, accountability, or other
purposes.
Internal Service Funds - Internal Service funds are used to account far the
+ financing of goods or services provided by one department to other departments
of the City, on a cost -reimbursement basis.
FIDUCIARY FUNDS
+ Trust and Agency Funds - Trust and Agency Funds are used to account for assets
held by the City in a trustee capacity or as an agent for individuals, private
organizations, other governments, and/or other funds. Agency Funds are
custodial in nature and do not involve measurement of results or operations.
During 1990, the City did not maintain a Trust Fund.
.. GENERAL FIXED ASSETS AND GENERAL LONG-TERM DEBT ACCOUNT GROUPS
General Fixed Assets (GFA) - The General Fixed Assets Account Group is used to
account for fixed assets used in governmental fund type operations for control
purposes. All fixed assets are valued at historical cost or estimated
historical cost if actual historical cost is not available. Donated fixed
assets are valued at their estimated value on the date of donation. No
depreciation is recorded on general fixed assets. The City does not presently
maintain a General Fixed Asset Account Group.
General Long -Term Debt Account Group - The General Long -Term Debt Account Group
is used to account for long-term liabilities to be financed from government
funds.
3. Fixed Assets
+ General Fixed Assets Account Group - Fixed assets used in governmental fund
type operations are accounted for in the General Fixed Assets Group of
Accounts, rather than in governmental funds. Public domain ("infrastructure")
general fixed assets including roads, bridges, curbs and gutters, streets and
+ sidewalks, drainage systems and lighting systems, are not capitalized along
with other general fixed assets. No depreciation has been provided on such
assets.
All fixed assets are valued at historical cost or estimated historical cost if
actual historical cost is not available. Donated assets are valued at their
estimated fair value on the date donated. Repairs and maintenance are recorded
as expenditures; renewals and betterments are capitalized. The City does not
currently maintain a General Fixed Asset Account Group.
Proprietary Funds - Additions to the Proprietary Funds are recorded at cost or,
if contributed property, at their estimated fair value at time of contribution.
Repairs and maintenance are recorded as expenses; renewals and betterments are
capitalized. The sale or disposal of fixed assets is recorded by removing cost
and accumulated depreciation from the accounts and charging the resulting gain
or loss to income.
18
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued
3. Fixed Assets - Continued
Depreciation of all exhaustible fixed assets used by Proprietary Funds is charged as
an expense against their operations. Accumulated depreciation is reported on
Proprietary Fund balance sheets. Depreciation has been provided over the estimated
useful lives using the straight-line method. The estimated useful lives are as
follows.
Buildings 25-50 years
Improvements 10-40 years
Equipment 3-10 years
4. Basis of Accountinq
The accounting and financial reporting treatment applied to a fund is determined by
its measurement focus. All governmental funds are accounted for using a current
financial resources measurement focus. With this measurement focus, only current
assets and current liabilities generally are included on the balance sheet. Operating
statements of these funds present increases (i.e., revenues and other financing
sources) and decreases (i.e., expenditures and other financing uses) in net current
assets.
All proprietary funds are accounted for on a flow of economic resources measurement
focus. With this measurement focus, all assets and liabilities associated with the
operation of these funds are included on the balance sheet. Fund equity (i.e., net
total assets) is segregated into contributed capital and retained earnings components.
Proprietary fund-type operating statements present increases (e.g., revenues) and
decreases (e.g., expenses) in net total assets.
The modified accrual basis of accounting is used by all governmental fund types and
agency funds. Under the modified accrual basis of accounting, revenues are recognized
when susceptible to accrual (i.e., when they become both measurable and available).
^Measurable° means the amount of the transaction can be determined and "available"
means collectible within the current period or soon enough thereafter to be used to
pay liabilities of the current period. The City considers property taxes as available
if they are collected within 60 days after year-end. A one-year availability period
is used for revenue recognition for all other governmental fund revenues.
Expenditures are recorded when the related fund liability is incurred. Principal and
interest on long-term debt are recorded as fund liabilities when due or when amounts
have been accumulated in the debt service fund for payments to be made early in the
following year.
Those revenues susceptible to accrual are property taxes, franchise taxes, special
assessments, licenses, interest revenue and charges for services. Sales taxes
collected and held by the state at year-end on behalf of the City also are recognized
as revenue. Fines and permit revenues are not susceptible to accrual because
generally they are not measurable until received in cash.
The accrual basis of accounting is utilized by proprietary fund types. Under this
method, revenues are recorded when earned and expenses are recorded at the time
liabilities are incurred.
19
+ City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
+ NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued
4. Basis of Accounting - Continued
+ The City reports deferred revenue on its combined balance sheet. Deferred revenues
arise when a potential revenue does not meet both the "measurable" and "available"
criteria for recognition in the current period. Deferred revenues also arise when
resources are received by the City before it has a legal claim to them, as when grant
+ monies are received prior to the incurrence of qualifying expenditures. In subsequent
periods, when both revenue recognition criteria are met, or when the City has a legal
claim to the resources, the liability for deferred revenue is removed from the
combined balance sheet and revenue is recognized.
+ 5. Budgets and Budgetary Accounting
The City follows these procedures in establishing the budgetary data reflected in the
financial statements.
1. The City Manager submits to the City Council a proposed operating budget
for the fiscal year commencing the following July 1. The operating
budget includes proposed expenditures and the means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
+ 3. Prior to July 1, the budget is legally enacted through passage of an
ordinance.
4. The City Manager is authorized to transfer budgeted amounts between
programs within any department, however, any revisions that alter the
total expenditures of any department must be approved by the City
Council.
+ 5. Formal budgetary integration is employed as a management control device
during the year for all funds.
6. Budgets for all funds are adopted on a basis consistent with generally
+accepted accounting principles (GAAP).
Individual budget amendments made throughout the year were not material in relation
to the total original appropriations which were amended.
+ 6. Inventories
Inventories consist primarily of supplies, valued at cost, which approximates market.
Cost is determined using a weighted average method. The cast of inventories is
recorded as expenditures/expenses when consumed rather than when purchased.
7. Compensated Absences
Vested or accumulated vacation pay for proprietary funds is recorded as an expense
and liability of those funds as the benefits accrue to employees. Amounts of vested
or accumulated vacation leave of governmental funds that are not expected to be
+ liquidated within the current year are reported in the general long-term debt account
group. Employees may accumulate up to 30 days vacation, for which they are
compensated upon termination or retirement. Employees are not compensated for
accumulated sick leave upon termination or retirement.
20
.. City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
,. NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued
8. Bond Discounts/Issuance Costs
,. In governmental fund types, bond discounts and issuance costs are recognized in the
current period. Bond discounts and issuance costs for proprietary fund types are
deferred and amortized over the term of the bonds. Bond discounts are presented as
a reduction of the face amount of bonds payable whereas issuance costs are recorded
,. as deferred charges.
9. Total Columns - Memorandum Only
.� Total Columns are captioned "Memorandum Only" to indicate that they are presented only
to facilitate financial analysis. Data in these columns do not present results of
operations in conformity with generally accepted accounting principles. Neither is
such data comparable to a consolidation. Interfund eliminations have not been made
in the aggregation of this data.
10. Medical/Health/Self-Insurance Fund
The City has established an internal service fund to account for its medical self-
insurance program. The purpose of this fund is to pay medical insurance claims of
the City employees and their covered dependents and minimize the total costs of annual
insurance to the municipality. The private insurance carrier determines premium
payments to be made by the City. Annual claims are paid from accumulated premium
payments, and claims exceeding accumulated premium payments are paid by the private
insurance carrier. Estimated claims incurred but not reported of $112,940 have been
recorded as of June 30, 1991. Dependent coverage is funded by charges to employees.
11. Cash and Cash Equivalents
For purposes of the statement of cash flows, the proprietary fund types consider all
highly liquid investments with a maturity of three months or less when purchased to
be cash equivalents.
12. Comparative Data
Comparative totals for the prior year have been presented in the accompanying
financial statements in order to provide an understanding of changes in the City's
financial position and operations. However, presentation of prior year totals by fund
type have not been presented in each of the statements since their inclusion would
make the statements unduly complex and difficult to read.
13. Prepaid Items
Payments made to vendors for services that will benefit periods beyond June 30, 1991
are recorded as prepaid items.
14. Restricted Assets
Certain proceeds of enterprise fund revenue bonds, as well as certain resources set
aside for the repayment, are classified as restricted assets on the balance sheet
because their use is limited by applicable bond covenants. The "revenue bond
operations and maintenance" account is used to report resources set aside to subsidize
potential deficiencies from the enterprise fund's operation that could adversely
affect debt service payments. The "revenue bond construction" account is used to
report those proceeds of revenue bond issuances that are restricted for use in
21
City of Cape Girardeau, Missouri
' NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued
r 14. Restricted Assets - Continued
construction. The "revenue bond current debt service" account is used to segregate
' resources accumulated for debt service payments over the next twelve months. The
"revenue bond future debt service" account is used to report resources set aside to
make up potential future deficiencies in the revenue bond current debt service
account. The "revenue bond renewal and replacement" account is used to report
-' resources set aside to meet unexpected contingencies or to fund asset renewals and
replacements.
15. Lona -term Obligations
Long-term debt is recognized as a liability of a governmental fund when due, or when
resources have been accumulated in the debt service fund for payment early in the
following year. For other long-term obligations, only that portion expected to be
financed from expendable available financial resources is reported as a fund liability
of a governmental fund. The remaining portion of such obligations is reported in the
general long-term debt account group. Long-term liabilities expected to be financed
from proprietary fund operations are accounted for in those funds.
16. Interfund Transactions
Quasi -external transactions are accounted for as revenues, expenditures or expenses.
Transactions that constitute reimbursements to a fund for expenditures/expenses
initially made from it that are properly applicable to another fund, are recorded as
expenditures/expenses in the reimbursing fund and as reductions of
expenditures/expenses in the fund that is reimbursed.
y All other interfund transactions, except quasi -external transactions and
reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent
transfers of equity are reported as residual equity transfers. All other interfund
transfers are reported as operating transfers.
17. Short-term Interfund Receivables/Pavables
During the course of operations, numerous transactions occur between individual funds
for goods provided or services rendered. These receivables and payables are
classified as "due from other funds" or "due to other funds" on the balance sheet.
Short-term interfund loans are classified as "ioterfund receivables/payables".
18. Advances t0 Other Funds
Noncurrent portions of long-term interfund loan receivables are reported as advances
and are offset equally by a fund balance reserve account which indicates that they
do not constitute expendable available financial resources and therefore are not
available for appropriation.
19. Post-Emolovment Health Care Benefits
In addition to the pension benefits described in Note H, the City provides
postretirement health care benefits to employees who retire from the City with five
or more years of service and who are eligible for LAGERS retirement (Note H).
Currently, six employees meet those eligibility requirements. The City provides
health care coverage for them until age 65. The cost of retirees' health care
benefits is recognized as an expenditure as premiums are paid. For 1991, those costs
totaled $3,930.
22
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued
19. Poet-Emplovment Health Care Benefits - Continued
COBRA Benefits - Under the Consolidated Omnibus Budget Reconciliation Act (COBRA),
the City provides health care benefits to eligible former employees and eligible
dependents. Certain requirements are outlined by the federal government for this
coverage. The premium plus a 2& administration fee is paid in full by the insured
on or before the tenth (10th) day of the month for the actual month covered. This
program is offered for a duration of 18 months after the termination date. There is
no associated cost to the City under this program, and there is only one participant
in the program as of June 30, 1991.
NOTE B - CASH AND INVESTMENTS
1. Deposits
At June 30, 1991, the carrying amount of the City's deposits was $6,068,904 and the
bank balance was $6,321,980 which excludes $4,000 of petty cash funds held at various
City locations. The deposits are categorized in accordance with risk factors created
by governmental reporting standards.
Carrying Bank
Amount Balance
Category #1 $ 100,000 $ 100,000
Category #2 5,968,904 6,221,980
Category #3 - -
Category #1 includes deposits covered by depositing insurance or collateral held by
the City in the City's name.
Category #2 includes deposits covered by collateral held by the financial institutions
trust departments in the City's name.
a Category #3 includes deposits which are uncollateralized or the collateral is held
by the financial institutions trust department but not in the City's name.
2. Investments
Investments made by the City are summarized below. The investments that are
represented by specific identifiable investment securities are classified as to credit
risk by the three categories described below:
Category #1 Insured or registered, or securities held by the City or its agent in the
City's name.
' Category #2 Uninsured and unregistered, with securities held by the counter -party's
trust department or agent in the City's name.
Category #3 Uninsured and unregistered, with securities held by the counter -party,
or by its trust department or agent but not in the City's name.
23
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE B - CASH AND INVESTMENTS - Continued
2. Investments - Continued
Category Carrying Market
#1 #2 #3 Value Value
U.S. government $5,535,549 $ - $ - $5,535,549 $5,535,549
securities
Certificates 7,678,182 - - 7,678,182 7,678,182
of deposit
Mutual Fund 2.194 209 2,194,209 2,194,209
$15.407.940 $_ $_ $15,407.940 $15,407.940
Included in the amounts shown above is $3,576,327 to be used to retire the 1984 Public
Building Bonds (note E).
The assets included in the mutual fund shown above are guaranteed by the U.S.
government or its agencies or are rated AAA by Standard and Poor's. Assets are
invested in U.S. government mortgage backed securities, other mortgage securities or
securities collateralized by or representing an interest in mortgages which have
interest rates that reset periodically and which are issued or guaranteed by the U.S.
government, its agencies or instrumentalities.
NOTE C - PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of January 1. Taxes were
levied on August 21, 1990, for collection during this fiscal year and are due on or
before December 31. The tax rates assessed at the time were as follows:
City Revenue $.30/100.00 assessed valuation
Library Tax .14/100.00 assessed valuation
Public Health Tax .04/100.00 assessed valuation
Debt Service Tax .10/100.00 assessed valuation
Special Business District .85/100.00 assessed valuation
42 (Ad Valorem)
Reserve for doubtful property taxes at June 30, 1991 was $23,871.
NOTE D - CHANGES IN FIXED ASSETS
.. A summary of proprietary fund type property, plant and equipment at June 30, 1991
follows:
Internal
Entervrise Service
Land $ 540,320 $ 37,500
Buildings 9,566,600 363,214
Improvements other
r than buildings 16,120,115 20,814
Equipment 2,684,097 871,437
Construction in progress 1.314.200 -
$30,225,332 $1,292,965
Less accumulated
depreciation 9.925.836 481.923
$20.299 496 $ 811,042
24
25
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
y
NOTE E - LONG-TERM
OBLIGATIONS
The following is a
summary of bond transactions of the City for the year
ended June
30, 1991.
General Leasehold
Obligation Revenue Revenue
Bonds Bonds Bonds Total
Bonds payable at
$ 7,970,000 $ 1,290,000 $ 8,305,000 $17,565,000
July 1, 1990
Unamortized
- - (85,970) (85,970)
discounts
Bond Issued
- - 11,100,000 11,100,000
Bonds Retired
(150,000) (35,000) (850,000) (1,035,000)
.+
Bonds payable at
$ 7,820.000 $ 1.255 000 $18.469.030 $27,544.030
June 30, 1991
Bonds payable at June
30, 1991 are comprised of the following individual
issues.
$4,240,000 1984 Public
Building serial bonds due as follows.
Year Ending Interest
Principal Interest
June 30 Rate Due Due Total
1992 12.00%
$ 160,000 $ 416,460 $ 576,460
1993 12.00%
175,000 396,360 571,360
1994 9.25%
190,000 377,073 567,073
1995 9.00%
3.715,000 184.142 3.899.142
$4.240.000 $1.374.035 $5.614.035
Principal payments are made on November 1, and interest payments are
made semi-
annually on May 1,
and November 1. After the payment of $205,000 is made
on November
1, 1994, proceeds
from the 1987 Refunding Bonds will be used to retire the remaining
.�
$3,510,000 of the
1984 Public Building serial bonds.
25
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
+
June 30, 1991
NOTE E - LONG-TERM OBLIGATIONS - Continued
+ $3,580,000 1987 General Obligation Refunding Bonds due as follows:
Interest
Year Ending Interest Principal Interest Earned on
June 30 Rate Due Due Escrow Total
1992 $ - $ 238,628 $ 238,628 $ -
1993 - 238,628 238,628 -
+ 1994 - 238,628 238,628 -
1995 - 238,628 119,869 118,759
1996 6.00% 265,000 230,678 - 495,678
1997 6.15 280,000 214,117 - 494,117
+ 1998 6.30 295,000 196,215 - 491,215
1999 6.45 315,000 176,764 - 491,764
2000 6.60 340,000 155,385 - 495,385
2001 6.70 360,000 132,105 - 492,105
+ 2002 6.80 385,000 106,955 - 491,955
2003 6.90 415,000 79,548 - 494,548
2004 7.00 445,000 49,655 - 494,655
2005 7.10 480.000 17.040 497,040
,. $3,580,000 $2,312 974 $ 835 753 $5.057.221
Principal payments are made annually on November 1, and interest payments are made
semi-annually on May 1, and September 1.
+ On August 1, 1987, the City of Cape Girardeau issued $3,580,000 of General Obligation
Refunding Bonds Series 1987 with interest rates varying from 6.00% to 7.10&. The
Refunding bonds constitute general obligations of the City and will be payable as to
+ both principal and interest from advalorem taxes which may be levied without
limitation as to rate or amount upon all the taxable tangible property, real and
personal, within the territorial limits of the City.
The Refunding bonds are being issued to provide the City with funds which, together
with other legally available funds of the City, will be sufficient to refund
$3,510,000 of the $4,240,000 principal amount of the outstanding Series 1984 Bonds
of the City.
To effect the refunding of the Series 1984 Bonds, the City entered into an Escrow
Deposit Agreement (the ^escrow Deposit Agreement"), dated as of August 1, 1987, with
the Boatmen's National Bank of St. Louis, as escrow agent ("Escrow Agent"). Pursuant
to the Escrow Deposit Agreement, the Escrow Agent deposited the proceeds of the Bonds
to be applied in the amount of $3,580,600 to the purchase of United States Treasury
Securities (the "Escrowed Securities'-).
+ The principal amount of the Escrowed Securities, together with the interest income
thereon, will be payable at such times and in such amounts, together with the monies
held uninvested by the Escrow Agent, to pay, when and as due, the interest on the
Bonds from November 1, 1987 through November 1, 1994, and to pay the principal of and
redemption premium on the Series 1984 Bonds and may be applied only to such payment.
The Escrow Deposit Agreement that the Escrowed Securities (exclusive of investment
earnings thereon) and the moneys held uninvested by the Escrow Agent are irrevocably
pledged to the payment of the principal of and redemption premium on the Series 1984
Bonds and may be applied only to such payment.
26
+
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL
STATEMENTS
June 30,
1991
NOTE E - LONG-TERM OBLIGATIONS
- Continued
$1,255,000
1986 Sewerage
System Revenue Bonds
due as
follows.
+
Year Ending
Interest
Principal Interest
June 30
Rate
Due
Due
Total
+
1992
8.50%
$ 40,000 $
98,748
$ 138,748
1993
8.50
45,000
95,347
140,347
1994
8.50
50,000
91,523
141,523
1995
7.50
50,000
87,272
137,272
+
1996
7.50
60,000
83,523
143,523
1997
7.50
65,000
79,022
144,022
1998
7.50
70,000
74,148
144,148
1999
7.60
75,000
68,897
143,897
+
2000
7.70
85,000
63,198
148,198
2001
7.75
95,000
56,652
151,652
2002
7.80
100,000
49,290
149,290
2003
7.90
110,000
41,490
151,490
+
2004
8.00
125,000
32,800
157,800
2005
8.00
135,000
22,800
157,800
2006
8.00
150,000
12,000
162.000
$
1,2S5,000 $
956.710
$2 211 710
Principal payments are made annually on March
1, and interest payments are made semi-
annually on
March 1, and
September 1.
$3,145,000 Building and Equipment Leasehold Revenue Bonds, Series 1988 due as follows.
+
Year Ending
Interest
Principal Interest
September 1
Rate
Due
Due
Total
1991
6.25%
$ 310,000 $
200,368
$ 510,368
1992
6.40
330,000
180,120
510,120
1993
6.50
355,000
158,023
513,023
1994
6.60
375,000
134,110
509,110
1995
6.70
400,000
108,335
508,335
1996
6.80
430,000
80,315
510,315
1997
6.90
455,000
49,998
504,998
1998
7.00
490.000
34.300
524.300
+
$
3,145,000 $
945,569
$4.090 569
The bonds are obligations of the Cape Girardeau
(Missouri)
Public Facilities Authority
(CGPFA). The
CGPFA has entered into a Lease
Purchase Agreement with the City of Cape
+
Girardeau,
Missouri. Principal and interest will be
paid by COPRA from rental and
other receipts
from the
City. The purpose
of the bonds is to purchase the existing
central fire
station of
the City, construct
and equip
a new fire station, construct
+
and equip a
solid waste
transfer station and
acquire
certain other furnishings and
equipment.
Based on a
percentage-of-use of funds, the
bond principal is allocated as follows:
+
$1,320,900
- Sewer Fund;
$1,195,100 - Solid
Waste Fund; and $629,000 - General Long-
Term Debt Account Group.
Principal payments are made
semi-annually on September
1, and interest payments are
+
made semi-annually
on March 1, and September 1.
27
28
City of Cape
Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
Tune 30, 1991
NOTE E - LONG-TERM OBLIGATIONS
- Continued
$4,720,000
Building
and Equipment Leasehold
Revenue
Bonds (Street and Sewer
Improvement
Projects),
Series 1989 due
as follows.
+
Year Ending
Interest
Principal
Interest
March 1
Rate
Due
Due
Total
1992
6.80%
$ 350,000
$ 327,750
$ 677,750
1993
6.80
360,000
303,950
663,950
1994
6.85
370,000
279,470
649,470
1995
6.85
380,000
254,125
634,125
1996
6.90
400,000
228,095
628,095
1997
6.90
405,000
200,495
605,495
1998
6.95
420,000
172,550
592,550
1999
7.00
435,000
143,360
578,360
2000
7.00
455,000
112,910
567,910
2001
7.05
470,000
81,060
551,060
2002
7.10
490,000
47,925
537,925
2003
7.10
185,000
13,135
198.135
$ 4.720,000
$2,164,825
$6.884 025
The 1989 bonds and interest
were issued
pursuant to
an agreement in the original
indenture,
$3,720,000
Building and Equipment
Leasehold Bonds, Series 1988. The 1989
bonds and interest
are
obligations of the
Cape Girardeau (Missouri) Public Facilities
Authority (CGPFA).
The
CGPFA has entered
into a Lease Purchase agreement with the
City of Cape Girardeau,
Missouri. Principal
and interest payments will be paid by
CGPFA from
rental and
other receipts from
the City.
The purpose of the bonds is to
construct and improve
certain streets
located in the
City and improve the sewerage
system.
Based on a
percentage
-of -use of funds,
the bond principal is allocated as follows:
$2,690,400
- Sewer Fund
and $2,029,600
- General Long
-Term Debt Account Group.
Principal payments are
made annually on
March 1, and interest payments are made semi-
annually on
March 1, and September 1.
$5,690,000
Building and
Equipment Leasehold Bonds,
Series 1990 A and B, due as
follows.
$4,625,000
Series 1990A
Year Ending Interest
Principal
Interest
March 1
Rate
Due
Due
Total
1992
6.00%
$ 355,000
$ 293,055
$ 648,055
1993
6.05
375,000
271,755
646,755
1994
6.10
400,000
249,068
649,068
1995
6.15
425,000
224,667
649,667
y
1996
6.25
450,000
198,530
648,530
1997
6.35
480,000
170,405
650,405
1998
6.45
510,000
139,925
649,925
1999
6.50
550,000
107,030
657,030
2000
6.60
1.080.000
71.280
1.151.280
$ 4,625,000
$1.725.715
$6.350.715
28
..
City of Cape Girardeau, Missouri
NOTES TO
FINANCIAL STATEMENTS
June
30, 1991
NOTE E - LONG-TERM OBLIGATIONS - Continued
$1,065,000 Series 19908
Year Ending Interest
Principal
Interest
March 1 Rate
Due
Due Total
1992 6.10&
$ 40,000
$ 71,397 $
111,397
1993 6.20
45,000
68,957
113,957
1994 6.25
50,000
66,168
116,168
1995 6.30
50,000
63,043
113,043
1996 6.40
60,000
59,893
119,893
1997 6.50
65,000
56,052
121,052
1998 6.60
65,000
51,828
116,828
1999 6.70
70,000
47,537
117,537
2000 6.75
75,000
42,847
117,847
2001 6.80
80,000
37,785
117,785
2002 6.85
80,000
32,345
112,345
2003 6.90
85,000
26,865
111,865
2004 7.00
90,000
21,000
111,000
2005 7.00
210,000
14.700
224,700
$ 1 065 000
$ 660 417 $1,725.417
The bonds are obligations
of the Cape
Girardeau (Missouri) Public
Facilities Authority
(CGPFA). The CGPFA has
entered into
a Lease Purchase Agreement
with the City of Cape
Girardeau, Missouri.
Principal and
interest will be paid
by the CGPFA from rental
and other receipts
from the City.
The purpose of the
1990A Series bonds is to
acquire, construct,
improve, widen,
repair, and enlarge
creek channels and a dry
detention reservoir for the purpose of flood control. The purpose
of the 19908 Series
bonds is to acquire,
construct, improve,
and repair the City's
airport facilities.
The bond liability for
the Series 1990A bonds is recorded
in the General Long -Term
Debt Account Group.
The bond liability
for the Series 1990B
bonds is recorded in the
Airport Fund.
Principal payments are made annually
on March 1, and interest
payments are made semi-
annually on March 1,
and September 1.
$5,000,000 Building
and Equipment Leasehold
Revenue Bonds,
Series 1991
Year Ending Interest
Principal
Interest
March 1 Rate
Due
Due Total
1992 5.10%
$ 430,000
$ 254,109 $
684,109
1993 5.25
420,000
267,561
687,561
_
1994 5.40
440,000
245,511
685,511
1995 5.55
465,000
221,751
686,751
1996 5.70
490,000
195,944
685,944
1997 5.85
520,000
168,014
688,014
1998 6.00
550,000
137,594
687,594
1999 6.13
575,000
104,594
679,594
2000 6.25
1,110.000
69,375 1,179.375
$ 5.000.000
$1.664.453 $6.664.453
The bond's are obligations
of the
Cape Girardeau (Missouri)
Public Facilities
Authority (CGPFA).
The CGPFA has entered
into a Lease Purchase
Agreement with the
City of Cape Girardeau,
Missouri. Principal
and interest
will be paid by the CGPFA
from rental and other
receipts from
the City. The purpose of the 1991 bonds is to
acquire, construct,
improve, widen,
repair and enlarge
creek channels and a dry
detention resevoir for
the purpose of
flood control.
29
In the Sewer Fund, $208,249 cash is available to service the Sewerage Revenue Bonds.
+ The debt service available to retire the Leasehold Revenue Bonds is shown in the
various funds as follows.
+ Sewer Fund $ 463,337
Solid Waste Fund 122,724
Debt Service Fund 1,619,377
Airport Fund 118,952
Total $2.324,390
Included in restricted cash on the balance sheet is $1,655,061 which is the balance
in the various project accounts which represent incompleted projects at June 30, 1991.
If the project funds are not used, the remaining balance can be applied against debt.
The City is in compliance with all significant limitations and restrictions contained
+ in the various bond indentures.
30
City
of Cape Girardeau, Missouri
+
NOTES TO FINANCIAL
STATEMENTS
June 30,
1991
NOTE E - LONG-TERM
OBLIGATIONS
- Continued
+
The bond liability
for these bonds is recorded in the General
Long -Tarin Debt Account
Group.
+
Principal payments
are made annually on March 1, and interest payments are made semi-
annually on March
1, and September 1.
The annual requirements
to amortize
all
debt outstanding as of June 30, 1991,
+
including interest
payments of
$10,968,945
are as follows.
General
Leasehold
Year Ending
Obligation
Revenue
Revenue
+
June 30
Bonds
Bonds
Bonds
Total
1992
$ 576,460
$ 138,748
$ 2,631,679
$ 3,346,887
1993
571,360
140,347
2,622,343
3,334,050
1994
567,073
141,523
2,613,240
3,321,836
1995
4,017,901
137,272
2,592,696
6,747,869
1996
495,678
143,523
2,590,797
3,229,998
1997
494,117
144,022
2,575,281
3,213,420
+
1998
491,215
144,148
2,551,895
3,187,258
1999
491,764
143,897
2,556,821
3,192,482
2000
495,385
148,198
3,016,412
3,659,995
2001
492,105
151,652
668,845
1,312,602
,.
2002
491,955
149,290
650,270
1,291,515
2003
494,548
151,490
310,000
956,038
2004
494,655
157,800
111,000
763,455
2005
497,040
157,800
224,700
879,540
+
2006
-
162.000
-
162.000
$
10,671,256
$2,211.710
$25.715 979
$38.598.945
$558,832 is available in the
Debt Service
Fund to service the general obligation
bonds. This does
not include
the $3,576,327
available to apply to refunding of 1984
series bonds.
In the Sewer Fund, $208,249 cash is available to service the Sewerage Revenue Bonds.
+ The debt service available to retire the Leasehold Revenue Bonds is shown in the
various funds as follows.
+ Sewer Fund $ 463,337
Solid Waste Fund 122,724
Debt Service Fund 1,619,377
Airport Fund 118,952
Total $2.324,390
Included in restricted cash on the balance sheet is $1,655,061 which is the balance
in the various project accounts which represent incompleted projects at June 30, 1991.
If the project funds are not used, the remaining balance can be applied against debt.
The City is in compliance with all significant limitations and restrictions contained
+ in the various bond indentures.
30
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
31
NOTE F - CAPITAL LEASE OBLIGATIONS
The City is the lessee of certain equipment under capital leases. The assets and
liabilities under capital leases are recorded at the
lower of the present value of
the minimum lease payments or the fair value of the asset.
The assets are amortized
over their estimated productive lives. Current amortization expense is included in
depreciation expense.
Following is a summary of property held under capital
leases.
General Fixed
Enterprise
Asset Group
Funds
Luggar truck $ -
$ 64,425
Sanitation truck -
99,476
Refuse trucks -
114,104
Sludge trucks -
250,698
Golf carts -
68,000
_
Golf course irrigation system -
204,281
Fire truck 410,164
$ 410,164
$ 800,984
Less accumulated amortization
410.111
$ 410.164
$ 390.873
The following is a schedule by years of future minimum
lease payments under capital
leases together with the present value of the minimum
lease payments as of June 30,
'
1991.
Year ending General Fixed
Enterprise
June 30 Asset Group
Funds
_
1992 $ 58,443
$ 129,298
1993 -
53,525
1994 -
28,978
'
1995 -
28,978
Succeeding years -
57,983
Total minimum lease payments $ 58,443
$ 298,762
Less amount representing interest 7.192
41,929
Present value of net minimum lease
payments $ 51,251
$ 256.833
'
Current portion $ 51,251
$ 112,806
Noncurrent portion -
144.0271.251
$ 5
$ 256,833
NOTE G - DEFICIT FOND BALANCES
The following individual funds have deficit fund balances
at June 30, 1991.
Enterprise Funds
Solid Waste Fund $ 251,153
Golf Course Fund 122,811
31
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE H - PENSION PLAN
1. Plan Description
The City of Cape Girardeau contributes to the Missouri Local Government Employees
Retirement System (LAGERS), an agent multiple -employer public employee retirement
system that acts as a common investment and administrative agent for local government
entities in Missouri. LAGERS was created and is governed by state statute. As such,
it is the system's responsibility to administer the law in accordance with the
expressed intent of the General Assembly. The plan is qualified under the Internal
Revenue code Section 401a and it is tax exempt.
All full-time employees are eligible to participate in LAGERS. Benefits vest after
five years of credited service. Employees who retire on or after age 60 (55 for
police and fire) with 5 or more years of service are entitled to an allowance for life
based upon the benefit program then in effect. The allowance is equal to a benefit
factor multiplied by the final average salary multiplied by the number of years of
service. LAGERS also provides early retirement, death and disability benefits. If
the political subdivision participates under the contributory plan, each member
contributes 4% of gross salary. The employer is required by statute to contribute
the remaining amounts necessary to finance the coverage of it's employees using the
actuarial basis specified by state statute.
2. Funding Status and Progress
The amount shown below as the "pension benefit obligation" is a standardized
disclosure measure of the present value of pension benefits, adjusted for the effects
r of projected salary increases, estimated to be payable in the future as a result of
employee service to date. The measure is the actuarial present value of credited
projected benefits and is intended to (i) help users assess the plan's funding status
on a going -concern basis, (ii) assess progress being made in accumulating sufficient
assets to pay benefits when due, and (iii) allow for comparisons among public employee
retirement plans. The measure is independent of the actuarial funding method used
to determine contributions to the plan.
The pension benefit obligation was determined as part of an actuarial valuation of
the plan as of February 28, 1991. Significant actuarial assumptions used in
determining the pension benefit obligation include (a) a rate of return on the
investment of present and future assets of 7.0& per year compounded annually, (b)
projected salary increases of 49 per year compounded annually, attributable to
inflation, (c) additional projected salary increases ranging for O.Oe to 3.41r per
year, depending on age, attributable to seniority/merit, and (d) the assumption that
benefits will increase 35 per year after retirement.
At February 28, 1991, the assets in excess of the pension benefit obligation were
$153,664, determined as follows:
32
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE H - PENSION PLAN - Continued
2. Funding Status and Progress - Continued
Pension Benefit Obligation:
(Employer Accumulation Fund and Member Deposit Fund only)
Retirees and beneficiaries currently receiving benefits $
Terminated employees not yet receiving benefits 233,556
Current employees --
Accumulated employee contributions including
allocated investment income 1,457,750
Employer financed - Vested 4,810,722
Employer financed - Non -vested 733.441
Total Pension Benefit Obligation 7,235,469
Net Assets Available for Benefits; at Cost: 7.389.133
' Assets in Excess of the Pension Benefit Obligation $ 153,664
3. Funding Poli cv
The City of Cape Girardeau is obligated by state statute to make all required
contributions to the plan. The required contributions are actuarially determined
using the individual entry -age actuarial cost method. The prior service costs are
amortized over an initial amortization period of 40 years, and the amount of the
additional unfunded obligations created due to increases in plan benefits over a
period of 30 years. Any refunds of member contributions as elected by the City of
Cape Girardeau are amortized over a 15 year period.
' The significant actuarial assumptions used to determine the actuarially determined
employer contribution requirements are the same as those used to compute the pension
_ benefit obligation.
The City of Cape Girardeau's contribution for 1991 of $550,388 was made in accordance
with actuarially determined contribution requirements determined through an actuarial
valuation. This amount consisted of (a) normal cost which is 6.2& of payroll and (b)
' amortization of prior service costs which is .70% of covered payroll.
The value of vested benefits was not determined in connection with the actuarial
valuation of the plan. At February 28, 1991, (the date of the most recent actuarial
valuation), the total unfunded liability for benefits accrued was $1,612,518.
4. Trend Information
Historical information about the City's participation in the Missouri Local Government
Employees Retirement System is presented herewith as required supplementary
information. This information is intended to help users assess the City's retirement
plan's funding status on a going -concern basis, assess progress being made in
accumulating assets to pay benefits when due, and allow for comparisons with other
public employees retirement system (PERS).
33
The above assets and pension benefit obligations do not include the assets and present
value of benefits associated with the Benefit Reserve Fund and the Casualty Reserve
Fund. All current retiree assets and present values are excluded above, beginning
1989.
Analysis of the dollar amounts of net assets available for benefits, pension benefit
obligation, and unfunded pension benefit obligation in isolation can be misleading.
Expressing the net assets available for benefits as a percentage of the pension
benefit obligation provides on indication of the plan's funded status on a going -
concern basis. Analysis of the percentage over time indicates whether the system is
becoming financially stronger or weaker. Generally, the greater this percentage, the
stronger the plan. The unfunded pension benefit obligation and annual covered payroll
are both affected by inflation. Expressing the unfunded pension benefit obligation
' as a percentage of annual covered payroll approximately adjusts for the effects of
inflation and aids analysis of the progress being made in accumulating sufficient
assets to pay benefits when due. Generally, the small this percentage, the stronger
the plan.
Member
Employer
City of Cape Girardeau, Missouri
Fiscal
contri-
NOTES TO
FINANCIAL
STATEMENTS
year
butions
butions
Income
June 30, 1991
6/30/87
$197,541
$303,803
NOTE N - PENSION
PLAN -
Continued
203,439
308,554
424,987
936,980
4. Trend Information -
Continued
435,168
512,051
947,219
6/30/90
-
(1)
(2)
(3)
(4)
(5)
550,388
506,632
1,057,020
Pension
Net Assets
Benefit
Percent
Unfunded
Annual
Valuation
Available
Obligation
Funded
PBD
Covered
Date
For Benefits
(PBO)
(1)/(2)
(2)-(1)
Payroll
_
02/28/87
$ 5,276,196
$ 5,595,774
949,
$ 319,578
$4,968,360
02/29/88
6,218,632
6,188,416
100
(30,216)
4,970,027
02/28/89
5,577,814
5,190,355
107
(387,459)
5,291,039
02/28/90
6,402,470
5,792,412
111
(610,058)
5,542,581
'
02/28/91
7,389,133
7,235,469
102
(153,664)
6,102,647
(6)
Unfunded PBO as
a Percent
'
of Covered
Payroll (4)/(5)
6&
The above assets and pension benefit obligations do not include the assets and present
value of benefits associated with the Benefit Reserve Fund and the Casualty Reserve
Fund. All current retiree assets and present values are excluded above, beginning
1989.
Analysis of the dollar amounts of net assets available for benefits, pension benefit
obligation, and unfunded pension benefit obligation in isolation can be misleading.
Expressing the net assets available for benefits as a percentage of the pension
benefit obligation provides on indication of the plan's funded status on a going -
concern basis. Analysis of the percentage over time indicates whether the system is
becoming financially stronger or weaker. Generally, the greater this percentage, the
stronger the plan. The unfunded pension benefit obligation and annual covered payroll
are both affected by inflation. Expressing the unfunded pension benefit obligation
' as a percentage of annual covered payroll approximately adjusts for the effects of
inflation and aids analysis of the progress being made in accumulating sufficient
assets to pay benefits when due. Generally, the small this percentage, the stronger
the plan.
34
Member
Employer
Fiscal
contri-
contri-
Investment
year
butions
butions
Income
Total
6/30/87
$197,541
$303,803
$778,789
$1,280,133
6/30/88
203,439
308,554
424,987
936,980
6/30/89
-
435,168
512,051
947,219
6/30/90
-
425,627
712,292
1,137,919
6/30/91
-
550,388
506,632
1,057,020
34
a
a
y
NOTE H -
4. Trend
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
PENSION PLAN - Continued
Information - Continued
Expenses by type
Fiscal
year
Benefits Refunds
Total
6/30/87
$227,472 $37,921
$265,393
6/30/88
265,824 59,276
325,100
6/30/89
261,462 74,345
335,807
y
6/30/90
237,267 37,860
275,127
6/30/91
241,459 21,302
262,761
NOTE I -
INTEREST EXPENSE
_
Interest
cost totaling $1,598,818, excluding
$119,663 0£ interfund interest, was
incurred
during the year ended June 30, 1991.
No interest cost was capitalized as
_
part of
the cost of assets constructed during
the period.
NOTE J -
INTERFUND RECEIVABLES AND PAYABLES
The following
is a summary of the amounts due
from and to other funds.
Due from Due to
General Fund $1,448,747 $ -
Sewer Fund - 513,110
Solid Waste Fund - 824,787
Library Fund 59,713
Debt Service Fund 27,934 -
Fleet Management Fund 246,504 -
Corps Flood Control Fund - 26,665
Golf Course Fund 298.910
$1.723.185 $1,723,185
NOTE K - DEFERRED COMPENSATION PLAN
The City offers its employees a deferred compensation plan created in accordance with
Internal Revenue Code Section 457. The plan, available to all City employees, permits
them to defer a portion of their salary until future years. Participation in the plan
is optional. The deferred compensation is not available to employees until
termination, retirement, death or unforeseeable emergency. All amounts of
compensation deferred under the plan, all property and rights purchased with those
amounts, and all income attributable to those amounts, property or rights are (until
paid or made available to the employee or other beneficiary) solely the property and
rights of the City subject only to the claims of the City's general creditors.
Participants' rights under the plan are equal to those of general creditors of the
City in an amount equal to the fair market value of the deferred account for each
participant.
NOTE L - SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City maintains four enterprise funds which provide sewer, solid waste, airport
and golf services. Segment information for the year ended June 30, 1991 was as
follows.
35
N
36
City of
Cape Girardeau, Missouri
NOTES
TO FINANCIAL
STATEMENTS
June 30, 1991
NOTE L - SEGMENT INFORMATION FOR
ENTERPRISE FUNDS - Continued
Total
Sewer
Solid Waste
Golf Course
Airport
Enterprise
Fund
Fund
Fund
Fund
Fund
Operating Revenues $ 2,216,204
$ 1,665,867
$ 309,019
$ 345,650
$ 4,536,740
Depreciation 581,136
224,704
43,316
160,505
1,009,661
Operating grants -
-
-
149,380
149,380
..
Operating Income 475,682
42,832
(16,991)
(163,205)
338,318
(Loss)
Other Financing Sources
Operating transfers in -
-
-
50,000
50,000
.�
Sales of fixed assets -
10,185
-
-
10,185
Sales of investments 6,499
-
-
1,586
8,085
Net Income (Loss) 50,386
(83,257)
(46,012)
(184,852)
(263,735)
Current Capital
Contributions 1,129,700
-
-
86,417
1,216,117
Transfers -
-
-
-
-
Property, Plant and Equipment
Additions 2,530,794
77,700
37,208
424,119
3,069,821
Net Working Capital 1,289,440
(657,456)
(345,419)
811,948
1,098,513
Total Assets 18,732,539
1,721,438
348,973
3,589,359
24,392,309
Bonds and Other Long-
Term Liabilities
Payable from operating
revenues 5,154,709
998,796
140,187
1,052,926
7,346,618
Payable from other
sources -
-
-
-
-
Total Equity 12,604,214
(251,153)
(122,811)
2,411,868
14,642,118
NOTE M - EXCESS OF EXPENDITURES OVER BUDGET
The following individual funds of
the City contained
expenditures
which
exceeded the
original fund budget.
Fund
Budget
Actual
Difference
Special Revenue
Convention Tourism $
333,700
$ 373,765
$ (40,065)
Library
398,493
399,950
(1,457)
Vision 2000
15,200
16,007
(807)
Debt Service 1,691,114
1,693,632
(2,518)
Capital Projects
FAU Street Grants
10,000
10,790
(790)
Community Development Block
Grant
74,727
74,742
(15)
36
+�
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1991
NOTE N - RESERVATION OF FUND EQUITY
At June 30, 1991, the City has reservations of its fund equity as
follows.
..
General Fund
Reserved for prepaid expenses
45,284
Reserved for advances
898,713
Reserved for mausoleum maintenance
45,105
..
Reserved for police projects
34,240
Special Revenue Funds
Parks and Recreation Fund
Reserved for prepaid expenses
9,866
r
Health Fund
Reserved for prepaid expenses
131
Library Fund
Reserved for prepaid expenses
6,768
„Y
Reserved for restricted donations
37,245
Debt Service Fund
Reserved for debt service
5,773,632
Capital Projects Funds
General Capital Improvements Fund
Reserved for debt service
4,757
Corps Flood Control Fund
Reserved for debt service
64,515
Reserved for capital improvement
5,424,731
Street Improvement Fund
Reserved for debt service
30,581
Reserved for capital improvement
924,227
Community Development Black Grant
Reserved for economic development loan repayments
36,903
Enterprise Funds
Sewer Fund
Reserved for debt service
10,000
NOTE O - COMPOSITION OF RESTRICTED ASSETS
At June 30, 1991, the City has restricted in its Enterprise funds
as follows.
Revenue Bond
Bond Sinking and
Construction Reserve Fund Total
Sewer Fund $ 896,898 $ 671,586 $1,568,484
Solid Waste Fund 97,218 122,724 219,942
Airport Fund 746.834 118,952 865.786
$1,740,950 $ 913.262 $2.654.212
y
37
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS
38
r City of Cape Girardeau, Missouri
GENERALFUND
STATEMENT OF
REVENUES AND EXPENDITURES
-
.. BUDGET
(GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30,
1991
Q
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Taxes
7,629,292
7,639,729
10,437
Licenses and permits
560,000
578,505
18,505
Intergovernmental
224,851
222,428
(2,423)
Charges for sevices
227,595
245,533
17,938
Interdepartmental services
155,062
150,380
(4,682)
Fines and forfeitures
469,775
497,428
27,653
.. Miscellaneous
101,100
85,606
(15,494)
Interest
191,130
180,296
(10,834)
TOTAL REVENUES
9,558,805
9,599,905
41,100
EXPENDITURES
Current
General government
1,162,756
1,106,312
56,444
Transportation
1,466,241
1,445,829
20,412
Public Safety
5,244,062
5,163,960
80,102
Cemetery
88,355
86,814
1,541
Community development
711,154
611,516
99,638
Interdepartmental
201,659
194.606
7,053
Debt Service
W Principal
97,840
97,840
0
Interest and fiscal charges
7,192
7,192
0
TOTAL EXPENDITURES
8,979,259
8,714,069
265,190
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
579,546
885,836
306,290
OTHER FINANCING SOURCES (USES)
Transfers in
582,531
582,531
0
Transfer out
(1,148,986)
(1,149,932)
(946)
Proceeds from fixed assets
7,388
25,774
18,386
Special assessments
370
371
1
TOTAL OTHER FINANCING SOURCES
(USES)
(558,697)
(541,256)
17,441
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES
20849
344.580
323,731
THE NOTES TO THE FINANCIAL STATEMENTS
ARE AN INTEGRAL PART
OF THIS STATEMENT
39
I I t If a ► e I k i w I a t e e e i
City of Cape GGerGn4
Missouri
SPECIAL
REVENUE
FUNDS
COMBINING
BALANCE SHEET
June
30, 1991
Day.-
Capital
Conventlon/
Business
Parks and
Meter
bnpmvement
Flood
Vision
Tola s widena
and m Q.1v
loans.
Olslrict
90HPa idl
Heade
F,,I T,E
Seles Tax
L bmury $pjStdl9p
"1
6-30-91
H -30-9p
ASSETS
Gsnann Investments
361,295
4,528
150835
58,99
175,018
771,013
253246
6,337
17,978
1,798429
1,902,898
Cash and investments -designated
80,398
0
181
0
0
0
38572
0
0
119,151
88,078
Receivables, net of allowances for
doubtful recessab[es
Pon askle 6x
0
1,304
0
5,816
0
0
20,059
0
0
27,179
29.631
Pe6arul popsty IDx
o
0
0
1,937
0
0
6206
0
0
8,223
2.645
Seles tax
0
0
0
0
0
1(1
0
0
0
103.748
93,338
Hotel- motel tax receivane
22,620
0
0
0
0
0
0
0
0
22.620
23,987
Has. u¢nt 6x receio le
23,141
0
0
0
0
0
0
0
0
28.141
26.805
Interest receileble
524
0
407
0
5.118
660
289
0
0
5,998
3,995
Other receivables
0
0
0
1
0
0
717
0
0
718
6
Intargovern mental recevadles
Molm fuel rax
0
0
0
0
46,675
0
0
0
0
46,675
50016
Motorvehicla license fees
0
0
11
0
10,629
0
0
0
0
10,629
12,292
Macr,sh.r ales .x
0
0
0
0
10.812
0
0
0
0
10,812
12311
Gants remNable
0
0
0
0
0
0
0
0
0
0
9883
AO Anven re, to Ore, fun ns
0
0
0
0
0
0
0
0
0
0
0
Persisted Assets
0
0
0
0
0
0
0
a
a
0
a
named expenses
0
0
9.866
131
0
0
6.766
a
144
16909
9937
492,978
5,632
161®289
66064
248252
872,421
325,937
6337
18,122
2 19723
2,265,022
1 [ABILITIES AN O FUND ECII
Accounts payable
29,971
0
41,054
1763
15.424
152
5,895
0
1,169
95.448
97,744
Accrued eadumes
aleries,syroll.xesand berods
0
0
27.471
661
0
0
2,842
0
0
30,974
31,448
Olhet lebiBles
o
0
8.817
a
0
0
0
0
0
8.017
0
Due to other hinds
0
0
0
0
0
0
0
0
0
0
0
A. n ce F, m other run ns
0
0
0
0
0
0
59,713
0
0
59,713
59713
D,11 mJrevenue
80,398
1,304
0
7,39
0
0
24,040
0
a
113859
85998
Fund No arise
Reservetl
0
0
9.866
131
0
0
44,013
0
0
54,010
42,395
Firs,lerven
382,609
4,528
74,081
56,192
232,823
372.259
108634
6,337
16,933
1834,411
1,948.524
382_609
4528
83,947
56.323
232,828
872_a9
232S4 7
6,337
16,933
1,888,421
1,990,919
49$W3
5832
161289
66,inl
248252
872921
325937
6337
IB 122
2197`232
226 `822
THE NOTES TO THE FINANCIAL STATEMENTS
ARE AN INTEGRAL PART OF THIS
STATEMENT.
i E I k e i 1 i k o k t
Gly n
S P ECIAL REVENUE FUNDS n
COMB IN ING STATE MEN T OFREVE SUED AND EXPENDITURES AND FUND BALANCE
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
THE NOTES TO THE FINANCIAL STATEMENTS ME AN INTEGRAL PART OF THIS STATEMENT.
OOVMi
PMN.
CAPITAL
TOTALS
CONVENTION/
BUSINESS
ANC
MOTOR
IMPEOVEMENT
EL000
VISION
(MEMORANDUM
TOUR..
DISTRICT
RECREATION
HEALTH
FUEL TAX
SALES TAX
LIGRMY
PROTECTION
2000
ONLY
REVENUE.
Teres
599,136
2<, 660
0
98692
0
1.1. d
335,755
2331931
Inlergorernni
0
0
1503
3,313
605,9d9
0
26,999
0
69i ]60
Cne, lar U.N.—
0
0
IRS On
0
0
0
9823
0
153,231
Fines and lonellures
0
0
0
0
1,000
0
B
11600
.eFelleneoos
0
1J.9]e
0
0
],29]
0
23762
44,907
Intl...
29,114
1,356
10,3]3
J,O7
97,515
J1,511
19$39
509
133
133,569
TOTAL REVENUES
61=302
2d Ris
_1SA All_
463
1221347
AS. IISA
5C9
26545
3<6y`As,
__
EXPENDITURES
Cur ani
Centel B.,e,.menl
373632
F
A
1023
0
96.655
TenNene5nn
A
3
216,424
o
o
J
o
21 6424
S =lery
PUua
o
6
0
0
0
0
0
0
0
Read,
R
0
0
63,600
0
0
0
0
0
CUI.ie eno reneellon
0
0
1A96p50
0
0
0
399,650
0
Comnun,G tlevelopmerrt
0
J0.153
0
0
0
17361
0
0
16,00]
63521
Dem ser—
mlere9and 9scelrner9ev
143
0
0
0
0
0
0
0
0132
W
TOTAL E XPE NEI TE S
9 3765
30,153
1093054
BB 0
83
216,424
17,361
399850
3
TV 07
2,241]
93
A
,023
EXCESS (DEFICIENCY1 OF REVENUE.
OVER (UNDER) EXPENDITURES
243 53]
In III
nOFB
16,102
d77 SJ.
IOUN66
HE.14
(2 474)
8533
1225506
OTHER FINANCING SOURCES (USES)
TlenfleranA
600,009
0
D
6
a
o
0
ego, 000
Lentis—c.I
(Ho09161
o
O
1JR. OSJ)
(427.191
0
0
0
(2.129 ,006)
Prncmde of amt financing
o
0
0
0
0
0
Prncmds R.. mad .as.,
o
0
P
J0
TOTAL OTHER FINANCING SOURCES
(USES)O(3
RSlA
0
(1 4ee 0001
1427 91
P
L
A
(1,32e,0061
EXCESS (DFrI CENCS OF REVENUE.
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USE.
192621
14.1x])
027,09])
16,102
(]22,9611
776,7AL
0014
12,474)
H0249e1
FUND BALANCE AT BEGINNING OF YEAR
F S,
211,0.4
40221
955,]69
95,`0
222,633
8811
6395
FUND BALANCE AT ENO OF YEAR
4� 9
6947
563233>2�269
89,421
THE NOTES TO THE FINANCIAL STATEMENTS ME AN INTEGRAL PART OF THIS STATEMENT.
City of Cape Girardeau, Missouri
CONVENTION/TOURISM SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
_L 3,319)57,282 43,963
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
42
VARIANCE
REVENUES
y
Taxes
BUDGET
Interest
(UNFAVORABLE)
TOTALREVENUES
591,000
589,188
(1,812)
EXPENDITURES
28,114
Current
..
General government
(3,898)
Debt service
373,632
Interest and fiscal charges
0
TOTAL EXPENDITURES
(133)
EXCESS (DEFICIENCY) OF REVENUES
373,765
OVER (UNDER) EXPENDITURES
287,500
OTHER FINANCING SOURCES (USES)
3,963)
Transfer out
300,819)
TOTAL OTHER FINANCING SOURCES
30( 0,819)
(USES)
'
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
_L 3,319)57,282 43,963
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
42
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
591,000
589,188
(1,812)
30,200
28,114
(2086),
621,200
617,302
(3,898)
333,700
373,632
(39,932)
0
133
(133)
333,700
373,765
40,065
287,500
243,5374(
3,963)
(300,819)
300,819)
0
30( 0,819)
(300,819)
0
_L 3,319)57,282 43,963
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
42
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
43
n L
City of Cape Girardeau, Missouri
Q�
DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
..
VARIANCE
FAVORABLE
BUDGET ACTUAL
(UNFAVORABLE)
REVENUES
Taxes 25,150 24,660
(490)
Interest 810 1,356
546
TOTAL REVENUES 25,960 26,016
56
EXPENDITURES
Current
Community development 30,172 30,153
19
TOTAL EXPENDITURES 30,172 30,153
19
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 4,212 4,137
_75_
OTHER FINANCING SOURCES (USES) 0 0
0
TOTAL OTHER FINANCING SOURCES
(USES) 0 0
0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES 4,212 4,137
75
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
43
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
44
City of Cape Girardeau, Missouri
PARKS AND RECREATION SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
.. FOR THE FISCAL YEAR ENDED JUNE 30, 1991
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Intergovernmental 0
1,503
1,503
Charges for services 145,200
143,603
(1,597)
Miscellaneous 100
13,878
13,778
Interest 10,600
10,373
(227)
s
TOTAL REVENUES 155,900
169,357
13,457
EXPENDITURES
Current
Culture and recreation 1,099,453
1,096,454
2,999
+. TOTAL EXPENDITURES 1,099,453
1,096,454
2,999
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (943,553)
(927,097)
16,456
OTHER FINANCING SOURCES (USES)
Transfers in 800,000
800,000
0
TOTAL OTHER FINANCING SOURCES
(USES) 800,000
800,000
0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES (143553)
(127097)
16.456
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
44
City of Cape Girardeau, Missouri
HEALTH SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
+ FOR THE FISCAL YEAR ENDED JUNE 30, 1991
45
VARIANCE
.,
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Taxes
100,011
98,492
(1,519)
Intergovernmental
3,483
3,313
(170)
Interest
3,280
3,097
(183)
+ TOTAL REVENUES
106,774
104,902
(1,872)
EXPENDITURES
+ Current
Health
90,030
88,800
1,230
TOTAL EXPENDITURES
90,030
88,800
1,230
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
16,744
16,102
(642)
+
OTHER FINANCING SOURCES (USES)
+
0
0
0
TOTAL OTHER FINANCING SOURCES
(USES)
0
0
0
EXCESS OF REVENUES AND OTHER FINANCING
+ SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES
16,744
16,102
6421
THE NOTES TO THE FINANCIAL STATEMENTS ARE
AN INTEGRAL PART OF THIS STATEMENT
45
w
City of Cape Girardeau, Missouri
MOTOR FUEL TAX SPECIAL REVENUE
FUND
STATEMENT OF REVENUES AND EXPENDITURES
—
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
VARIANCE
FAVORABLE
BUDGET
ACTUAL
UNFAVORABLE
REVENUES
Intergovernmental 819,600
805,948
(13,652)
Interest 86,100
87,515
1,415
- TOTAL REVENUES 905,700
893,463
(12,237)
EXPENDITURES
Current
Transportation 235,404
216,424
18,980
TOTAL EXPENDITURES 235,404
216,424
18,980
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 670,296
677,039
6,743
OTHER FINANCING SOURCES (USES)
Transfer out (1,400,000)
(1,400,000)
0
TOTAL OTHER FINANCING SOURCES
(USES) (1,400,000)
(1,400,000)
0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES --E29 704)
__1722,961)
6,743
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
46
Pwv�µy 1k
..
City of Cape Girardeau, Missouri
CAPITAL IMPROVEMENT SALES TAX SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
'
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
VARIANCE
FAVORABLE
BUDGET ACTUAL
AWNFAVORAl
REVENUES
'
Taxes 1,169,000 1,183,836
14,836
Interest 38,106 37,511
(595)
TOTAL REVENUES 1 207.106 1,221,347
14,241
EXPENDITURES
Current
Community development 31,500 17.361
14,139
TOTAL EXPENDITURES 31,500 17,361
14,139
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 1,175,606 1,203,986
28,380
OTHER FINANCING SOURCES (USES)
r
Transfer out (427,187) (427,187)
0
TOTAL OTHER FINANCING SOURCES
(USES) 427,187 (427,187)
0_
EXCESS OF REVENUES AND OTHER FINANCING
.,
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 748_419 776.799
28,380
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT
47
City of Cape Girardeau, Missouri
LIBRARY SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT.
48
VARIANCE
FAVORABLE
BUDGET
ACTUAL
lUNFAVORABLE)
REVENUES
Taxes
328,000
335,755
7,755
Intergovernmental
27,550
26,996
(554)
Charges for services
8,900
9,628
728
Fines and forfeitures
7,800
11,000
3200,
Miscellaneous
2.300
7,297
4,997
Interest
19,950
19,288
(662
TOTAL REVENUES
394,500
409,964
15.464
EXPENDITURES
Current
Culture and recreation
398,493,
399,950
_(1,457
TOTAL EXPENDITURES
398,493
399,950
(1,457)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(3,993)
10,014
14,007
OTHER FINANCING SOURCES (USES)
0
0
0
TOTAL OTHER FINANCING SOURCES
(USES)
0
0
0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
(3.993)
10014
1407
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT.
48
Q
City of Cape Girardeau, Missouri
FLOOD PROTECTION SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
VARIANCE
FAVORABLE
BUDGET ACTUAL
(UNFAVORABLE)
.,
REVENUES
Interest 550 549
_ (1)
TOTAL REVENUES 550 549
EXPENDITURES
Current
,.
General government 3,023 3,023
0
TOTAL EXPENDITURES 3,023 3,023
__0
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 2,473 2,474
OTHER FINANCING SOURCES (USES) 0 0
0
'
TOTAL OTHER FINANCING SOURCES
(USES) 0 0
0
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 2,473 2,474
r
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS
STATEMENT
49
., City
of Cape Girardeau, Missouri
VISION
2000 SPECIAL REVENUE FUND
STATEMENT
OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL
YEAR ENDED JUNE 30, 1991
VARIANCE
FAVORABLE
BUDGET
ACTUAL
LUNFAVORABLE
REVENUES
r
Miscellaneous
13,750
23,762
10,012
Interest
650
783
133
.� TOTAL REVENUES
14,400
24,545
10,145
EXPENDITURES
Current
Community development
15,200
16,007
(807)
TOTAL EXPENDITURES
15,200
16,007
(807)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(800)
8.538
9,338
OTHER FINANCING SOURCES (USES)
0
0
0
TOTAL OTHER FINANCING SOURCES
(USES)
0
0
0
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
(8001
8538
9338
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
50
City of Cape Girardeau, Missouri
DEBT SERVICE FUND
STATEMENT OF REVENUES AND EXPENDITURES
—
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE
REVENUES
Taxes 250,030
246,342
(3,688)
Intergovernmental 8,707
8,282
(425)
Interest 349,687
368,035
18,348
..
TOTAL REVENUES 608,424
622,659
14,235
EXPENDITURES
Current
Principal 597,477
597,477
0
Interest and fiscal charges 1,093,637
1,096,155
2,518
TOTAL EXPENDITURES 1,691,114
1,693,632
__(2,518)
EXCESS (DEFICIENCY) OF REVENUES
'
OVER (UNDER) EXPENDITURES 1,082,690
X070,973
11,717
..
OTHER FINANCING SOURCES (USES)
Transfers in 1,124,739
1,126,085
1,346
Proceeds of debt financing 1,074,759
1,074,758
(1)
Special assessments 135,000
176,215
41,215
Gain on sale of securities 0
11,875
11,875
TOTAL OTHER FINANCING SOURCES
..
(USES) 2,334,498
2,388,933
54,435
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 1,251.808
1 317960
66_1 52
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT
51
1 I It k it
It k
1 1 1
k !
F
! t
1 !
It k
City of Cape Girardeau,
Missouri
CAPITAL PROJECTS FUNDS
COMBINING BALANCE
SHEET
^�
June 30, 1991
General
Cnrp
Capital
Flood Street
FAU Street
CDBG
Park
Totals {Memorandum Only1
Imprwements
Control Improvements
Grants
Grants
Improvements
6-30-91
6-30-90
ASSETS
Cashand nvestments
110,655
298,000 1,098,806
306,602
0
11,656
1,825,719
982,873
Cashand investments-desiqualed
4,736
5,764,822 955,536
0
37,403
0
6,762,497
2,085,185
Special assessments receivahle
0
0 355,134
35,499
0
0
390,633
486,019
Interest receivable
21
21,104 7,665
953
0
0
29,743
43,632
Other rete Nobles
0
0 0
0
0
0
0
26,262
Notes rcccNnille
0
0 0
0
180,228
0
180,228
203,260
Grants receivable
0
0 0
18,158
0
0
18,156
64,617
Due from otherfunds
0
0 0
0
0
0
0
0
ro
115412
6083926 2417141
361212
215631
11656
9,206978
3,891,848
LIABILITIES AND FUND EQUITY
Accounts payable
10,053
11,709 81,770
640
0
0
104,172
104,937
Interest payable
0
0 0
0
0
0
0
0
Other liabilities
0
0 0
0
0
0
0
0
Due to other govemments
0
0 0
0
76,500
0
76,500
86,500
Due to other funds
0
26,665 0
0
0
0
26,665
562643
Deferred revenue
0
17,962 360,340
35,499
0
0
413,801
513,756
Fund balance
Reserved
4,757
5,489,246 954,808
0
36,903
0
6,485,714
1,947,702
Unreserved
100,602
538,344 1,020.223
325,073
104,228
11,656
2,100,126
676,310
105,359
6,027,590 1,975,031
325073
141,131
11,656
8,585,840
2,624,012
115,412
6083,926 2417141
361212
217631-
11656
9_206,978
3,891,848_
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
! k k
t
1
i i
k
City of Cone Girardeau,
Missouri
CAPITAL PROJECTS
FUNDS
COMBINING
STATEMENT OF REVENUES AND EXPENDITURES AND
FUND BALANCE
FOR ]HE FISCAL YEAR ENDED
JUNE 30, 1991
GENERAL
FLOOD
FAU
TOTALS
CAPITAL
CONTROL STREET
STREET
GREG
PARK
(MEMORANDUM
IMPROVEMENT
PIIOJECT IMPROVEMENT
GRANTS
GRANTS
IMPROVEMENT
ONI VI
RFVFNUFS
Lisa' —ouLl
0
0 0
0
55,6]1
0
55.6]1
MlsceIll
0
0 0
0
0
0,500
6,500
IntArOt
23.885
2,R 998 1021839
2; 643
1.17
1p21
501,813
TOTAL REVENUES
_23,885_
264,998 162839
25. G43
58.688
7.921
_561,994
EXPENDITURES
Curenl
Cs"I.1—,L,
816,398
2,3]5,0]4 1060,490
10,]9'0
]4,21]
40.395
4,3]],364
0eDt s,,
Inloesta Ind llsol COMIs
_ 8_134
3W192 --- 0
0
._525
_ 87
318538
TOTAL EXPENDITURES
824532
2,684,066 1.060,490
10.19)
]4,]42
40,402
4,695,902
EXCESS (DEFICIENCY) OF REVENUES
W OVER (UNDER) EXPENDITURES
1800 64])
(2419,868) (ID7651)
14,853
(18054)
(32561
�g131920)
OTHER FINANCING SOURCES (USES)
IIanslxsln
153,941
0 903,000
0
102549
50 OX
1,203.495
Tta,,f., Out
(26.125)
(123,103) (251,613)
O
(0Z 531)
6
(404,113)
6Y
PtOOee0sol0e0t Granting
240,91
6,rul446 0
9
9
0
9,216011
ProsseOahom tlxedasxLs
11452
0 0
0
O
0
11,452
SPesnlasses—'
0
0 71,190
5.n5
a
0
80965
TOTAL 01 RED FINANCING SOURCES
(USES)
487,844
8_043)43 _21s/1
5,1]5
_20018_
_500W
10,093,151
EXCESS (OEFICILNCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OIHEN FINANCING USES
(349,803)
5,423875 (153,614)
20.026
3.964
11,439
5,961.829
FUND LAI ANCE AT BEGINNING OF YEAH
495152
(396/185) 2.1211 ]OS
306045
137 161
(51031
2,624,011
F FIND HAI ANCL At I_ NO 01 Yr Al1
—11, 1'9
6.021.593 1915031
325013
11131
11656
6,SOS O40
111E NCT-S 1+3l11f Fa4A4GN SITFMFNTSARF
nN INH
gRAI PARI OI !Hl' 5VV H41V l
City of Cape Girardeau, Missouri
GENERAL CAPITAL IMPROVEMENT FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGEF (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
54
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Interest
23,200
23,885
685
TOTAL REVENUES
23,200
23,885
685
EXPENDITURES
Current
Capital outlay
859,500
816,398
43,102
Debt service
Interest and fiscal charges
8,140
8,134
6
TOTAL EXPENDITURES
867,640
824,532
43,108
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES844,440
80( 0,647)
43,793
OTHER FINANCING SOURCES (USES)
Transfers in
150,000
150,947
947
Transfer our
(26,126)
(26,126)
0
Proceeds of debt financing
248,571
248,571
0
Proceeds from fixed assets
85,000
77,452
7,548
TOTAL OTHER FINANCING SOURCES
(USES)
457,445
450,844
5,601
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
386995
349803
37j,92
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
54
City of Cape Girardeau, Missouri
CORP FLOOD CONTROL CAPITAL PROJECT FUND t^r'ti
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
55
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Interest
284,450
264,998
19,452
TOTAL REVENUES
284,450
264,998
_ (19,452)
EXPENDITURES
Current
Capital outlay
2,715,000
2,375,074
339,926
Debt service
Interest and fiscal charges
296,119
309,792
(13,673)
TOTAL EXPENDITURES
3,011,119
2,684,866
325,253
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(2,726,669)
(2,419,868)
306,801
OTHER FINANCING SOURCES (USES)
Transfers out
(122,827)
(123,703)
(876)
Proceeds of debt financing
8,967,446
8,967,446
0
TOTAL OTHER FINANCING SOURCES
(USES)
8,844,619
8,843,743
(876)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
_ 6,117,950
6,423,875
305,925
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
55
City of Cape Girardeau, Missouri
STREET IMPROVEMENTS CAPITAL PROJECT FUND
v„ VII
Q'�R
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FAVORABLE
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
BUDGET
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
56
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Interest
189,300
182,839
(6,461)
TOTAL REVENUES
189,300
182,839
(6,461)
EXPENDITURES
Current
Capital outlay
1,103,900
1,060,490
43,410
TOTAL EXPENDITURES
1,103,900
1,060,490
43410"
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(914,600)
(877,651)
36,949
OTHER FINANCING SOURCES (USES)
Transfers in
900,000
900,000
0
Transfer out
(251,343)
(251,813)
(470)
Special assessments
69,500
75,790
6,290
TOTAL OTHER FINANCING SOURCES
(USES)
718,157
723,977
5,820
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
(196443)
(153674)
42,769
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
56
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
57
City of Cape Girardeau, Missouri
FAU STREET GRANTS FUND
01
STATEMENT OF REVENUES AND EXPENDITURES —
P,
BUDGET (GAAP BASIS) AND ACTUAL
Q
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
UNFAVORABLE
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
57
VARIANCE
FAVORABLE
BUDGET
ACTUAL
UNFAVORABLE
REVENUES
Interest
26,085
25,643
442)
TOTALREVENUES
26,085
25,643
442
EXPENDITURES
Current
Capital outlay
10,000
10,790
790
TOTAL EXPENDITURES
10,000
10,790
790
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
16,085
14,853
1,232
OTHER FINANCING SOURCES (USES)
Special assessments
5,084
5,175
91
TOTAL OTHER FINANCING SOURCES
(USES)
5,084
5,175
91
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND
OTHER FINANCING USES
21,1.69
20,028
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
57
City of Cape Girardeau, Missouri1av��
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
STATEMENT OF REVENUES AND EXPENDITURES —
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
REVENUES
Intergovernmental 55,671 55,671 0
Interest 2,975 3,017 42
TOTAL REVENUES 58,646 58,688 42
EXPENDITURES
Current
Capital outlay 74,203 74,217 (14)
Debt service
Interest and fiscal charges 524 525 (1)
TOTAL EXPENDITURES 74,727 74,742 (15
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (16,081) (16,054) 27
OTHER FINANCING SOURCES (USES)
Transfers in 102,549 102,549 0
Transfers out 82,531 82,531 0
TOTAL OTHER FINANCING SOURCES
(USES) 20,018 20,018 0
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 3,937 3,964 27
�. THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT
58
City of Cape Girardeau, Missouri
�k
PARK IMPROVEMENTS FUND
STATEMENT OF REVENUES AND EXPENDITURES
—
BUDGEF (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
VARIANCE
.,
FAVOHABLE
BUDGET
ACTUAL (UNFAVORABLE)
REVENUES
Miscellaneous 0
6,500
6,500
Interest 1,400
1,421
21
TOTAL REVENUES 1,400
7,921
6,521
EXPENDITURES
Current
Capital outlay 40,503
40,395
108
Debt service
Interest and fiscal charges 87
87
0.
TOTAL EXPENDITURES 40,590
40,482
108
r
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (39,190)
(32,561)
6,629
OTHER FINANCING SOURCES (USES)
Transfers in 50,000
50,000
0
Y
TOTAL OTHER FINANCING SOURCES
(USES) 50,000
50,000
0.
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 10,810
17,439
6,629
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART
OF THIS STATEMENT
59
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
W
City of Cope Girardeau, Missouri
ENTERPRISE FONDS
COMBINING BALANCE SHEET
June
30, 1991
Solid
Car
Totals (Memorandum Only)
Sewer
Waste
Course
Airpor[
B-30-91
6 30-90
ASSETS
Cash and lnastrnanis
5,190
0
0
35,680
40,870
11,060
Cash and inastments-designated
500,593
244
0
0
500,837
371,349
Utility charges recela'ble (net of
allowance for prubtful receivables)
217,090
215,347
0
0
432,437
300,065
Grams receivable
164,470
0
0
15,673
180,143
35,105
Special ass"sements race Noble
97,483
0
0
0
97,483
25,611
Irteredrecei able
13,156
2,892
0
5,497
21,545
57441
Other receivables
913
60
442
19003
20,410
22,024
Inyenmhes
0
0
5,078
0
5,078
2007,
Rest ateb assets
1,568484
219,942
0
865,786
2,654,212
2.951,242
Prepard expanses
81,698
22913
883
34,296
139,790
118,598
2,649,077
461,398
6,403
975,935
4,092813
3894502
r
Propert, plant and eGvlpm6nt
Land
129,750
55,921
0
354,649
540,320
435,320
Rulldings
8,153,535
548,746
1,500
862,819
9,566,600
9,459,400
Improyemmrb other bol ding,
12,303,916
1,603
324,694
3,489,902
16,120,115
13,175,448
Equipment
916,981
1,468,704
224,301
74,111
2,604,097
2,357,245
Construction in progress
899,837
10,370
0
403,993
1,314,200
1,071,543
22.404019
2005344
550,495
5,185,474
30225.332
27,298,956
L ass accumulated depreciation
6,320,557
825,304
207,925
2,572,050
9,925.836
9.059617
16,083,462
1260,040
342,570
2613424
20,299,496
18239,339
r
18.732,539
1,721,438
348 9733
3 589 359
24,392 309
22.133 841
LIABILITIES AND FUND EQUITY
r
Accounts payable
276,804
88,281
11.802
96,283
473.170
127,093
Acalued liabilities
Sports, payroll taxes and benefits
36,654
38,343
16,141
3,905
95,043
94,363
Interest payable
123,391
22,384
4,744
23,799
174.318
167,892
Otho liabllltie6
23,657
0
0
0
23,657
34,033
Due to other funds
266,606
174,787
109910
0
551,303
87,294
Adana ham other funds
246,504
650,000
189,000
0
1,085,504
839,000
Current portion of long-term debt
352,762
123,637
21,098
40,000
537,497
526358
•�
Lang -tam debt net of cxrent portion
Revenue bonds payable
1,215,000
0
0
0
1,215,000
1,255.000
Lease purchase obligation payable
17,263
6,788
119,089
0
143,140
257,709
Lease purchase bonds payable
3,569,684
868,371
0
1,012,926
5,450,981
5054,783
Deferred revenue
0
0
0
578
576
578
FL -.d equity
Contributed capital
3,446,480
0
0
346,989
3793,469
2,577,352
r
Hecpned earnings (de0ce)
Reserved
10,000
0
0
0
10,000
11,667
_Tresrrved
9,147,734
251,153
p228111)
2064,879
10,838,649
11,100,719
12,604,214251
1153)1122811)
2,411,868
14,642,118
13,689738
18.732,539
1,721,438
348®973
3,589,359
24392.309
22,133,841
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
W
City of Cape Girardeau, Missouri
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS
FOR THE FISCAL YEAR ENDED JUNE 30, 1991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
61
TOTALS
MEMORANDUM ONLY]
a
SEWER
SOLO WASTE
GOLF COURSE
AIRPORT
JI UC -1991
OPERATING REVENUES
FMetal grants
0
0
0
149,380
149,360
Sialograms
0
0
0
0
0
ReslOential charges
962203
1,002,018
0
0
1964,261
Commensal charges
1013876
486.835
0
0
1500,]11
Trarsierstationcharges
0
153,%0
0
0
153,9W
Equipment soles
0
0
9,839
0
9,839
Concession revem¢s
0
0
54,633
1.123
55756
GOIfs."s 1ee5
0
0
239,586
0
239,586
Other fees and charges
39,034
0
0
22 097
61,931
Interdepartmental seMoes
1,1]9
0
0
0
1,170
Renlal revenue
0
0
0
m,21.
81,21.
Ernst,."
0
0
0
4000
4,000
011ier miecelleneaus
1200,
2596
4961
10
8,761
merest i0came
197861
20.458
0
81,022
300141
2,216204
1665867
309,019
345,650
4536.740
OPERATING EXPENSES
Personnel arrades
624,345
60],129
141,216
199,710
1,92,400
Materials aN s raphes
52443
19,680
34,039
9,748
115,910
Cerhactwi Jus ices
308,955
481,967
17,025
79.318
888,065
General o a,stag expenses
41,358
41,539
43.769
36,036
162 722
Special polecls expense
34,626
0
0
11,193
45819
Internal service expenses
91,659
248016
45.825
12,345
403845
Depreciation expense
581,136
224704
43316
160 505
1009,661
1.740.522
1 623035
326 010
508,855
4,198 422
OPERATING INCOME (LOSS)
415,662
42,832
(16,991(
(163,205)
330,316
NON-OPERATING EXPENSES
ISSuande costaPc,,x.hon
11.605
4.324
0
3.154
19,283
Intereel andhaMlingcosls
419,990
131950
29,021
70 D79
651,040
431 795
136,274
29.021
13,233
.70,111
INCOME (LOSS) BEFORE OTHER
FINANCING SOURCES (USES)
43,087
(93442)
(46012)
;236480)
O,9 N5)
OTHER FINANCING SOURCES (USES)
Transfers in
0
0
0
50,000
50,000
Sales 0l fixed assets
0
10,185
0
0
10,185
Salons of avestruents
6.499
0
0
1.586
6,085
6,499
10,185
0
51586
68270
NET INCOME (LOSS)
50,386
(83251)
(46012)
(104,052)
R63 735)
RETAINED EARNINGS(DFFICIT) AT
BEGINNING OF YEAR
9,107,340
(167,696)
p6.199)
2249731
11.112384
RETAINEDEARNINGS (DEFICFEAT
ENO OF YEAR
915713452
1,1531
12( 28111
2061819
lUlU 8A6A9
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
61
+ City of Cape Girardeau. Missouri
INTERNAL SERVICE FUNDS `'•
COMBINING BALANCE SHEET
June 30, 1991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
62
Data
Fleet
Employee
Totals (Memorandum Only)
Processing
Management
Insurance
6-30-91
6-30-90
ASSETS
+
Cash and Investments
65,868
94,713
460,620
621,201
468,374
Cash and investments -designated
0
37
0
37
0
Interest receivable
0
0
1,610
1,610
1,886
+ Other receivables
0
10,828
0
10,828
7,704
Inventories
0
11,029
0
11,029
12,050
Prepaid expenses
51,464
82,360
0
133,824
129.954
Advances to other funds
0
246,504
0
246,504
0
117,332
445,471
462,230
1,025,033
619,968
Property, plant and equipment
' Land
0
37,500
0
37,500
37,500
Buildings
0
363,214
0
363,214
359,964
Improvements other buildings
0
20,814
0
20,814
17,270
Equipment
736,712
134,725
0
871,437
781,175
+
736,712
556,253
0
1,292,965
1,195,909
,. Less accumulated depreciation
293,893
188,030
0
481,923
385,734
442,819
368,223
0
811,042
810,175
+
560,151
813,694
462230
1836075
1430,143
LIABILITIES AND FUND EQUITY
+
Accounts payable
77,573
121,245
112,940
311,758
203,359
Accrued liabilities
Salaries, payroll taxes and benefits
3,991
28,303
0
32,294
35,535
Due to other funds
0
0
0
0
15,078
Retained earnings
,. Unreserved
478,587
664,146
349,290
1,492,023
1,176,171
560 151
813 694
462230
1 836 075
1,430 143
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
62
63
City of Cape Girardeau, Missouri
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,
EXPENSES AND RETAINED EARNINGS
+
FOR THE FISCAL YEAR
ENDED JUNE 30. 1991
V(1Q
P ^'per
TOTALS
+
(M EMO RAN UUM ON LYn
DATA
FI.EFT
EMPLOYEE
PROCESSING
MANAGEMENT
INSURANCE
1990-1991
OPERATING REVENUES
Inled.contlnenlal services
203,804
933,780
706,198
1,843.782
Other miscellaneous
0
103
0
103
+
Inlerestlncome
2,135
21,140
21,671
44.946
205939
955,023
121,669
1888831
OPERATING EXPENSES
personnel .,,Co.
42,627
277,990
0
:V11,61/
+
Materials and supplies
3,371
366,041
0
309,412
Contractual services
69,038
272,463
404.613
/56914
Geo6ra10perarm, aNpans¢5
2,595
986
30
3,611
Internal service expenses
0
2.594
0
2.594
Depreciallon expense
74,204
22.901
0
97265
212,715
963,055
404,643
1580,419
+
OPERATING INCOME (LOSS)
(5,776)
(8032)
323,226
308.410
NON-OPERATING EXPENSES
Interestand handling COGS
585
355
0
940
INCOME (LOSS) BEFORE OTHER
FINANCING SOURCES (USES)
(1,351)
(8,361)
323,226
307478
OTHER FINANCING SOURCES (USES)
Sales of IUed assets
0
616
0
816
Compensation for damages
0
7,560
0
_ 1,560
+.
0
6,376
0
6.376
NET INCOME (LOSS)
(7361)
If 1)
323,226
315.054
RETAINED EARNINGS AT BEGINNING
OF YEAR
485,948
664,157
26,064
LI /6, 169
a
RETAINED EARNINGS AT END OF YEAR
478,567
664,146
349,290
1,492023
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT,
63
City of Cape Girardeau, Missouri
AGENCY FUND
_
BALANCE SHEET
June 30, 1991
Arena Deferred
Totals (Memorandum
Only)
Improvement Compensation
6-30-91
6-30-90
ASSETS
-.
Cash and investments
20717 388 153
408870
235,404
Total assets
20717 38__153
408_`70
23504
..
LIABILITIES
Accounts payable
1,233 0
1,233
0
Other Liabilities
19,484 0
19,484
0
'
Deferred compensation due employees
0 388,153
388,153
23_5 404
Total liabilities20717
38153
408870
235404
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
64
KERBER, ECK & $RAECKEL
CesnFieu PURL¢ AttoINIkFFs
err e-oaawar
,,,I 1a1 nsie� Fa. 31a via a362
Cape Qamcs. miszou" INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF
mnv,e,zee wucosm FEDERAL FINANCIAL ASSISTANCE
Honorable Mayor and Members
of the City Council
City of Cape Girardeau, Missouri
We have audited the general purpose financial statements of the city of Cape Girardeau,
Missouri for the year ended June 34, 1991, and have issued our report thereon dated
September 26, 1991. These general purpose financial statements are the responsibility
of City of Cape Girardeau, Missouri's management. Our responsibility is to express an
opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and
Government Auditin_q standards, issued by the Comptroller General of the United States,
and the provisions of Office of Management and Budget Circular A-128, "Audits of State
and Local Government." Those standards and OMB Circular A-128 require that we plan and
perform the audit to obtain reasonable assurance about whether the general purpose
financial statements are free of material misstatement. An audit int.ludes examining, on
a test basis, evidence supporting the amounts and disclosures in the general purpose
+ 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 opinion.
Our audit was conducted for the purpose of forming an opinion on the general purpose
financial statements of the City of Cape Girardeau, Missouri taken as a whole. The
,. accompanying schedule of federal financial assistance is presented for purposes of
additional analysis and is not a required part of the general purpose financial
statements. The information in that schedule has been subjected to the auditing
procedures applied in the audit of the general purpose financial statements and, in our
+ opinion, is fairly presented in allmaterial respects in relation to the general purpose
financial statements taken as a whole.
Cape Girardeau, Missouri
September 26, 1991
66
I i 1 i k 1 i
Federal Grantor/Pass-Through Grantor/Tllo
Department of Housing and Urban Development
Passed through Missouri Departnent of
Economic Development
Community Development Block Grant
CDA -252-53; 88 -ED -09
Total U.S. Department of Housing and Urban Development
Department of Transportation
Federal Aviation Administration
Air Traffic Se rvicea DTFA09-91-C-21004
Air Traffic Services DTFA09-90-C-20004
Airpod Master Plan 3-29-0013-03
Airport Improvement Program 3-29-0013-04
Passed through Missouri Department of Public Safety
Cepa Girardeau County Community
Traffic Safety Program 91 -CP -09-7
w Cape Girardeau Comprehensive Community
Traffic Safety 90-90-09-06
Passed through the Missouri Highway and Transportation
Department
Public Taxi Coupon Transportation Progress
MOATX007-4430
M0-18-X009-4CG
Total U.S. Deparbnentof Transportation
Department of Justice
Drug Free Schools
Project EDICT 89-NCD2-0240 (FY'91)
Project EDICT 89-NCD2-0240 (FY'90)
Total U.S. Department of Justice
1 k 1 1 1 1 11 1 1 1 1
City of Cape Girardeau, Missouri
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
June 30, 1991
Federal Program
CFDA or Award Balance Disbursements/ Be[....
Number Amount June 30,1990 Re�1s_ _ Expenditures _June 30, 1991
14.219
$
487.900 $__
(192,869)$_
"6,337 $
135,409_$
- (211,941)
52,500
0001) ___ 52,500
(192,869)
116,337
135,409
(211,941)
'
151,769
-
37,942
37,942
-
- 16,739
`
111,166
11,279
94,036
105,315
-
20.106
(5,754)
55,755
(5,859)
3,026
3,362
(6,195)
20.106
530,957
-
86,418
189,633
(103,215)
20.600
107,812
-
71,043
80,984
(9,941)
20.600
115,000
(4,440)
25,371
26,770
(5,839)
20.509
49,875
- -
1,258
(1,258)
20.509
52,500
0001) ___ 52,500
218,173
_ (166,674)
(21) 370,336
663,437
(293,122)
84.186
16,739
- 16,739
15,785
954
16.579
-
- 27,617
33,371
(5,754)
16.579
- 2,933_
_ 2,933_
- 47,289
52,089
(4,800)
I 1 1 1 11 it 1
Federal Grantor/Pass-Through. G,.tor(Fitle
Department of the Interior
Geological Suwey Joint Funding Grants
Stormwater and Landiill(FY'90)
Sto rnweter and Landfill(FY'91)
Total U.S. Department of Interior
Department of Defense
U.S. Army Corps of Engineers
Flood Control Project
Total U.S. Department of Defense
TOTAL FEDERAL FINANCIAL ASSISTANCE
W
1 If
1 it
1 i
i it 1 1
1 1
City of Cape
Girardeau, Missouri
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
June
30, 1991
Federal
Program
CFDA
or Award
Balance
Disbursements/
Balance
Number _
Amount
June 30, 1990. _
_Race pt. Expenditures
_June 30, 1991_
•
39,700
(16,500)
- 10,100
(26,600)
•
22,000
-
- 22,000
(n,000)
(16,500)
- 32,100
(48,600)
12.106
-
. , 84,866
(2,684,866)
2,684,866
(2 684,866)
(209,390)$___533,962
$_ 3,567901 S
(3,243,329)
KERBER,ECK & BRAECKEL
— CERlullI] 11111,11 A11.11N11NTS
1221 BmnJ1JV
Capel—,,d a M—n 111P 0602
— 3143u G568 Fm J14 334 19b2
�, Gua u, Masow
+ MAwnuiwu 4'Msnr'sn
sl. oms uisoun INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH
spv�nR. uno's LAWS AND REGULATIONS BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
— GOVERNMENT AUDITING STANDARDS
Honorable Mayor and Members
of the City Council
City of Cape Girardeau, Missouri
We have audited the general purpose financial statements of the City of Cape Girardeau,
Missouri as of and for the year ended June 30, 1991, and have issued our report thereon
dated September 26, 1991.
We conducted our audit in accordance with generally accepted auditing standards,
Goverment Auditing Standards, issued by the Comptroller General of the United States,
and the provisions of office of Management and Budget Circular A-128, "Audits of State
and Local Governments". Those standards and OMB Circular A-128 require that we plan and
perform the audit to obtain reasonable assurance about whether the general purpose
- financial statements are free of material misstatement.
Compliance with laws, regulations, contracts, and grants applicable to the City of Cape
Girardeau, Missouri is the responsibility of the City of Cape Girardeau, Missouri's
management. As part of obtaining reasonable assurance about whether the general purpose
financial statements are free of material misstatement, we performed tests of the City's
compliance with certain provisions of laws, regulations, contracts, and grants.
However, our objective was not to provide an opinion on overall compliance with such
provisions.
The results of our tests indicate that, with respect to the items tested, the City of
Cape Girardeau, Missouri, complied, in all material respects, with the provisions
referred to in the preceding paragraph. with respect to items not tested, nothing came
to our attention that caused us to believe that the City had not complied, in all
material respects, with those provisions.
This report is intended for the information of management. This restriction is not
intended to limit the distribution of this report, which is a matter of public record.
Cape Girardeau, Missouri
September 26, 1991
69
KERBER,ECK & BRAECKEL
CLNIII 'IWI Y(b(IC A(COVNTANTY
1221 Broad -'
Cape I, n,do ,, Masmn fiPP-IM2
i J4-3340558 Fo 3163243962
m :e 9uni0eo u. Missoui
� MJry ...r Witiuorb
s _os mlssow INDEPENDENT AUDITORS' REPORT ON COMPLIANCE
spong[,,: L1, WITH THE GENERAL REQUIREMENTS APPLICABLE TO
MAJOR AND NON MAJOR FEDERAL FINANCIAL
a ASSISTANCE PROGRAMS
Honorable Mayor and Members
of the City Council
City of Cape Girardeau, Missouri
+ We have applied procedures to test the City of Cape Girardeau, Missouri's compliance
with the following requirements applicable to each of its federal financial assistance
programs, the major programs of which are identified in the schedule of federal
financial assistance, for the year ended June 30, 1991: political activity, Davis -Bacon
Act, civil rights, cash management, relocation assistance and real property acquisition,
federal financial reports allowable costs/Cost principles, Drug-free Workplace act and
administrative requirements.
Our procedures were limited to the applicable procedures described in the Office of
Management and Budget's "Compliance Supplement for Single Audits Of State and Local
Governments". Our procedures were substantially less in scope than an audit, the
objective of which is the expression of an opinion on the City of Cape Girardeau,
Missouri's compliance with the requirements listed in the preceding paragraph.
Accordingly, we do not express such an opinion.
With respect to the items tested, the results of those procedures disclosed no material
instances of noncompliance with the requirements listed in the first paragraph of this
_ report. With respect to items not tested, nothing came to our attention that caused us
to believe that the City of Cape Girardeau, Missouri, had not complied, in all material
respects, with those requirements. Also, the results of our procedures did not disclose
any immaterial instances of noncompliance with those requirements.
This report is intended for the information of management. This restriction is not
intended to limit the distribution of this report, which is a matter of public record.
Cape Girardeau, Missouri
September 26, 1991
70
KERBER,ECK & BRAECKEL
(IXI]FILD Purr IC ACCO"NTA tlrs
Cape C,j, u.Missouri 637JI8,02
w 11, "1-0918 Fav11, 13, pIc
Capu IS, "i" au. Miseap
rel -See w-prn, INDEPENDENT AUDITORS' REPORT ON COMPLIANCE
s. ua"ri M11So1.11 WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR
sp..nn...di' u,o..
FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Honorable Mayor and Members
of the City Council
a. City of Cape Girardeau, Missouri
We have audited the City of Cape Girardeau, Missouri's compliance with the requirements
governing types of services allowed or unallowed; eligibility; matching, level of
effort, or earmarking; reporting; claims for advances and reimbursements; and amounts
claimed or used for matching that are applicable to each of its major federal financial
_ assistance programs, which are identified in the accompanying schedule of federal
financial assistance, for the year ended June 30, 1991. The management of the City of
Cape Girardeau, Missouri, is responsible for the City of Cape Girardeau, Missouri's,
compliance with those requirements. Our responsibility is to express an opinion on
compliance with those requirements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards,
Government Auditing Standards, issued by the Comptroller General of the United States,
and OMB Circular A-128, Audits of State and Local Governments. Those standards and OMR
Circular A-128 require that we plan and perform the audit to obtain reasonable assurance
about whether material noncompliance with the requirements referred to above occurred.
An audit includes examining, on a test basis, evidence about the City of Cape Girardeau,
Missouri's compliance with those requirements. we believe that our audit provides a
reasonable basis for our opinion.
The results of our audit procedures did not disclose any immaterial instances of
noncompliance with the requirements referred to above.
In our opinion, the City of Cape Girardeau, Missouri complied, in all material respects,
with the requirements governing types of services allowed or unallowed; eligibility;
matching, level of effort, or earmarking; reporting; claims for advances and
reimbursements; and amounts claimed or used for matching that are applicable to each of
r its major federal financial assistance programs for the year ended June 30, 1991.
Cape Girardeau, Missouri
September 26, 1991
K. &--k
71
KERBER, ECK & BRAECKEL
11.1111111 YVBLIC Al C011MIIN 11
1221 Pm d -r
Capp finaNcuu vl-1116310BGM
316334-PS68 2v 314334A962
Gcc Guo Nva., Mismmi
a Mdrvau4c lM swsn
sows ussow INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH
spcic i.,o SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL
FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS
Honorable Mayor and Members
of the City Council
City of Cape Girardeau, Missouri
r In connection with our audit of the 1991 general purpose financial statements of the
City of Cape Girardeau, Missouri, and with our consideration of the City of Cape
Girardeau, Missouri's internal control structure used to administer federal financial
assistance programs, as required by Office of Management and Budget Circular A-128,
"Audits of state and Local Governments", we selected certain transactions applicable to
certain nonoajor federal financial assistance programs for the year ended June 30, 1991.
As required by OMB Circular A-128, we have performed auditing procedures to test
compliance with the requirements governing types of services allowed or unallowed and
eligibility that are applicable to those transactions. Our procedures were
substantially less in scope than an audit, the objective of which is the expression of
an opinion on the City of Cape Girardeau, Missouri's compliance with these requirements.
Accordingly, we do not express such an opinion.
.. with respect to the items tested, the results of those procedures disclosed no material
instances of noncompliance with the requirements listed in the preceding paragraph.
With respect to items not tested, nothing came to our attention that caused us to
believe that the City of Cape Girardeau, Missouri, had not complied, in all material
respects, with those requirements. Also, the results of our procedures did not disclose
any immaterial instances of noncompliance with those requirements.
This report is intended for the information of management. This restriction is not
intended to limit the distribution of this report, which is a matter of public record.
y Cape Girardeau, Missouri
September 26, 1991
e L4,�
72
KERBER,ECK & BRAECKEL
.. a G✓u'Joi u, N6soutl 6]]018102
31434OC68 w314334d9!<
2aoc cnoo,au mw,,,n INDEPENDENT AUDITORS' REPORT ON INTERNAL
i Mdaau.0 Wisxrs�
n .ows ussovi CONTROL STRUCTURE RELATED MATTERS NOTED IN A
sp„n91,r¢1 ni"Os FINANCIAL STATEMENT AUDIT CONDUCTED IN
ACCORDANCE WITH GOVERNMENT_ AUDITING STANDARDS
Honorable Mayor and Members
of the City Council
City of Cape Girardeau, Missouri
a we have audited the general purpose financial statements of the City of Cape Girardeau,
Missouri for the year ended June 30, 1991, and have issued our report thereon dated
September 26, 1991.
a We conducted our audit in accordance with generally accepted auditing standards,
Government Auditing_ Standards, issued by the Comptroller General of the United States
and the provisions of OMB Circular A-128 "Audits of State and Local Governments."
Those standards and OMB Circular A-128 require that we plan and perform the audit to
obtain reasonable assurance about whether the general purpose financial statements are
free of material misstatement.
In planning and performing our audit of the general purpose financial statements of the
City of Cape Girardeau, Missouri for the year ended June 30, 1991, we considered its
internal control structure in order to determine our auditing procedures for the purpose
of expressing our opinion on the general purpose financial statements and not to provide
assurance on the internal control structure.
The management of the City of Cape Girardeau, Missouri is responsible for establishing
,. and maintaining an internal control structure. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. The objectives of
an internal control structure are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss from unauthorized use or
disposition, and that transactions are executed in accordance with management's
authorization and recorded properly to permit the preparation of financial statements in
accordance with generally accepted accounting principles. Because of inherent
limitations in any internal control structure, errors or irregularities may nevertheless
occur and not be detected. Also, projection of any evaluation of the structure to
future periods is subject to the risk that procedures may become inadequate because of
changes in conditions or that the effectiveness of the design and operation of policies
and procedures may deteriorate.
73
INDEPENDENT AUDITORS' REPORT ON INTERNAL
CONTROL STRUCTURE RELATED MATTERS NOTED IN A
FINANCIAL STATEMENT AUDIT CONDUCTED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED
For the purpose of this report, we have classified the significant internal control
structure policies and procedures in the following categories.
General
Petty cash
Bank accounts
Cash receipts
Cash disbursements
Investments
Revenues and receivables
Property and equipment
Purchasing, receiving and accounts payable
Payrolls
Budget
Electronic data processing
For all of the control categories listed above, we obtained an understanding of the
design of relevant policies and procedures and whether they have been placed in
operation, and we assessed control risk.
Our consideration of the internal control structure would not necessarily disclose all
matters in the internal control structure that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants. A
material weakness is a reportable condition in which the design or operation of the
specific internal control structure elements does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would be material in relation to
the general purpose financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their assigned
functions. We noted no matters involving the internal control structure and its
operation that we consider to be material weaknesses as defined above.
This report is intended for the information of the management. This restriction is not
intended to limit the distribution of this report, which is a matter of public record.
Cape Girardeau, Missouri
September 26, 1991
74
KERBER,ECK & BRAECKEL
CLR11ILD VCHIIC AC( nVNTANIS
IRlI1ma�-'
Ca pa Gnatlnau .—Ir, 311P 1,D1
� i�<yy-p5fi9 pax yl<33:g962
taxa unaaaa.. mas0sn INDEPENDENT AUDITORSREPORT ON THE INTERNAL
rauam. wrt�sCONTROL STRUCTURE USED IN ADMINISTERING
si Pius mssuua FEDERAL FINANCIAL ASSISTANCE PROGRAMS
S, -1 1.. ah,
a Honorable Mayor and Members
of the City Council
City of Cape Girardeau, Missouri
We have audited the general purpose financial statements of the City of Cape Girardeau,
Missouri, for the year ended June 30, 1991, and have issued our report thereon dated
September 26, 1991. We have also audited the City of Cape Girardeau, Missouri's
compliance with requirements applicable to major federal financial assistance programs
and have issued our report thereon dated September 26, 1991.
We conducted our audits in accordance with generally accepted auditing standards;
Government Auditing_ Standards, issued by the Comptroller General of the United States;
_ -
and Office of Management and Budget (OMB) Circular A-128, Audits of State and Local
Governments. Those standards and OMB Circular A-128 require that we plan and perform
the audit to obtain reasonable assurance about whether the general purpose financial
statements are free of material misstatement and about whether the City of Cape Girardeau,
Missouri, complied with laws and regulations, noncompliance with which would be material
to a major federal financial assistance program.
In planning and performing our audits for the year ended June 30, 1991, we considered
the City's internal control structure in order to determine our auditing procedures for
the purpose of expressing our opinions on the City's general purpose financial
.� statements and on its compliance with requirements applicable to major programs and not
to provide assurance on the internal control structure. This report addresses our
consideration of internal control structure policies and procedures relevant to
compliance with requirements applicable to federal financial assistance programs. We
have addressed policies and procedures relevant to our auditing of the general purpose
financial statements in a separate report dated September 26, 1991.
The management of City of Cape Girardeau, Missouri, is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility, estimates
and judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. The objectives of an
internal control structure are to provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from unauthorized use or disposition,
that transactions are executed in accordance with management's authorization and
recorded properly to permit the preparation of general purpose financial statements in
accordance with general accepted accounting principles and that federal financial
assistance programs are managed in compliance with applicable laws and regulations.
Because of inherent limitations in any internal control structure, errors,
irregularities, or instances of noncompliance may nevertheless occur and not be
detected. Also, projection of any evaluation of the structure to future periods is
subject to the risk that procedures may become inadequate because of changes in
conditions or that the effectiveness of the design and operation of policies and
procedures may deteriorate.
75
INDEPENDENT AUDITORS' REPORT ON THE INTERNAL
CONTROL STRUCTURE USED IN ADMINISTERING
FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED
For the purpose of this report, we have classified the significant internal control
structure policies and procedures used in administering federal financial assistance
programs in the following categories:
General Requirements
r Political activity
Davis -Bacon Act
Civil rights
�. Cash management
Relocation assistance and real property acquisition
Federal financial reports
Allowable costs/cost principles
Drug-free workplace
Administrative requirements
Specific Requirements
' Types of services
Eligibility
Matching, level of effort, and earmarking
Reporting
Cost allocation
Claims for Advances and Reimbursements
Amounts Claimed or Used for Matching
For all of the internal control structure categories listed above, we obtained an
' understanding of the design of relevant policies and procedures and determined whether
they had been placed in operation, and we assessed control risk.
During the year ended June 30, 1991, City of Cape Girardeau, Missouri, expended 758 of
its total federal financial assistance under major federal financial assistance
programs.
We performed tests of controls, as required by OMB Circular A-128, to evaluate the
effectiveness of the design and operation of internal control structure policies and
procedures that we considered relevant to preventing or detecting material noncompliance
with specific requirements, general requirements, and requirements governing claims for
advances and reimbursements and amounts claimed or used for matching that are
applicable to each of the City's major federal financial assistance programs, which are
identified in the accompanying schedule of federal financial assistance. Our procedures
were less in scope than would be necessary to render an opinion on these internal
control structure policies and procedures. Accordingly, we do not express such an
opinion.
Our consideration of the internal control structure would not necessarily disclose all
matters in the internal control structure that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants. A
material weakness is a reportable condition in which the design or operation of the
specific internal control structure elements does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would be material in relation to
the general purpose financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their assigned
functions. We noted no matters involving the internal control structure and its
operation that we consider to be material weaknesses as defined above.
W
INDEPENDENT AUDITORS' REPORT ON THE INTERNAL
CONTROL STRUCTURE USED IN ADMINISTERING
FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED
Our consideration of the internal control structure would not necessarily disclose all
°+ matters in the internal control structure that might be reportable conditions and,
accordingly, would not necessarily disclose all reportable conditions that are also
considered to be material weaknesses as defined above.
This report is intended for the information of management. This restriction is not
intended to limit the distribution of this report, which is a matter of public record.
Cape Girardeau, Missouri
September 26, 1991
77
SUPPLEMENTAL INFORMATION
78
79
City of Cape Girardeau, Missouri
STATEMENT OF INSURANCE COVERAGE
I or Year Ended June 30, 1991
ISSUE EXPIRATION
DATE DATE
COMPANY AND POLICY NUMBER
COVERAGE
+ June30, 1990 June30, 1991
Lumberman$ Mutual Casualty Company
Blanket— various buildings and contents —
Furey #0VT-071-7P0-02
$11,452488,90%colnsurance',$25,000
deductible
June 30,1991 June 30, 1992
Lumberman, Mutual Casualty Company
Blanket— various buildings and contents —
'+
Policy #3VT-071-720-03
$12303,278,90% WlnSamnce,$2o OUJ
deductible
sne 30, 1990 June 30, 1991
LurMermans Mutual Casualty Company
E.D.P. Policy ,$389330hardsand$15C,OOC
+
Pol'ey # 3AT-581-143-02
surface on, $1,003 deductible', $2500
deductible for mac^apical breakdown
Jcpe 30, 1991 June 30, 1992
L.:mdermans Mutual Casualty Company
E.D.P. Pollee $403,524 hardy nre, $1 sOp3s;
Policy #3AT-581-143-03
softyi $1 WO deductible $2,500
+
deductible for mecrlanical breakdown
FcMUmy 22, 1991 June 30, 1991
Lomb2rmans Mutual Casualty Company
Vision 2000 sign policy, $6,000', $75deduc'dle
Policy # 3AT-581-143-02
+
J'..ne 30, 1991 June 30, 1992
Lumberman Mutual Casualty Compeny
Vision 20W sign policy; tc Pro 1 $/5 d^dur'L
Policy # 3AT Slit 143—W
+ J_'+/ 1, 1590 July 1, 1991
'J.S. Fidelity and Guaranty Company
Mobile Property Floater arc i y — radios,
Polley # CIM 128251299
$163 sari 38; $100 deductible
Maya 1991 May 8, 1992
i to io er lusurance Company
Cape Girardeau Public Library builrtings and
Policy # ZOL-239-22-90
contents51.050,000 limit, 90%co insurance on
+
buildings,$1000C0l1mh, 90%.,o ornanwor
contents
Jii 1990 June30, 1991
GuarantyNational Insurance Company
Pumpantlon—Southeast Corner, Pacific
Policy # 290801848090
Street and Mlatourl Pacific Fall Keep,
$1Ib,O00I $500deductible
June W, 1990 June 30, 1991
Guaranty National l nsurance Company
Trickling filler bullding— Southeast Corner,
Policy # 290801848290
Pacific Street and Missouri Pacific Fermi
+
$1 PC 000', $SCA deductible
June30, 1990 June W, 1991
Guaranty National Insurance Company
Garage and shop flood inur'apcc—So,,usn
Policy # 290801848390
Caner, Cooper Satere and Mismari Pacf c
+
railroad. $902W; $560 deductible
Juna301990 June 30, 1991
Guaranty National Insurance Company
Vacuum(ncineatu— Southeast Corner
Policy # 290601848490
Pacii eStraet and Missouri Pacific Railroad.
$1 DO ODD. $500 deducible
June 301990 June 30, 1991
Guaranty Natlonnl Insurance Company
Laboratory building— Southeast Curl ler,
Policy # 20cec)l 048190
Cooper Sir eel and Missouri Pacific Railmzp
+
$120 W01 5500 deductible
June 30, 1991 June W. 1992
Coaanty Nat Poor Insurance Company
Pump Scanlan — Southeast Corner, Four c
policy #'scristRo91
Streetand Missouri Pacific Railroad.
$100070 $503 deductible
a
June 30, 1991 June 30, 1092
C_aanry National Insurance Company
Tricling filter building— Soutr. east Corner,
Pulley # 290801 R4R291
Pacific Street and Missouri Paof o Railroad.
$100,000', 6500 deductible
79
City of Cape Girardeau, Missouri
STATEMENT OF INSURANCE COVERAGE
For Year Ended June 30, 1991
ISSUE
EXPIRATION
DATE
DATE
COMPANY AND POLICY NUMBER
COVERAGE
Jrne3g1991
June30, 1992
Guaranty National Insurance Company
Garage and shop flocd'msuranco- Soulheost
Policy #290801848391
Canner, Cooper Street and Missouri Pacific
railroad, $3],200-, $500 detludlbla
Tril, 1991
June 30, 1992
Guaranty National Insurance Company
Vacuurcincinencor- Southeast Comer,
Policy #290001 848491
Pacific Sheet and Missouri Pacific Railroad,
$1 Cm,000, $500 deductibla
June 30, 1991
June 30, 1992
Guaranty National Insurance Company
_.S_ mIIry building - Southeast Gorr,
Policy #290801048191
Copper Sheet and Mlsovl Peelle Railroad,
$100,000, $500 deducsble
March 0, 1991
March H. 4992
Commander Union Insurance Company
Cape Girardeau Municipal Bank, musical
Policy # CTR14430
Instruments floated, $35,183 20
Jan&y1, 1991
January1, 1992
Misor-ri Pdxlc linty K5c Management
Police Professional L:eoility$10,000
luntl: Policy # 1049
deductible', Public chicrale mors and
only,$10,000deductlblo general
liability �$50A dedacllble
July1,169D
JUIy1,1491
Plertlord Accident and Indemnity Company
Sewage treatment plant -$I,CA3,0001im:
Policy #SI. -92232]3]-1]
$1,000 dri ole
June30, 1951
June 30, 1992
General Insurance Companyof America
Airpertllaofli[yan0popertydemage,
$1 500000 ra each occurrence
Jantmy1, 1991
January 1, 1992
Transamerica Insurance Company
Airport Control Tower Single limit bodily
Policy # 1494593
Injury and acpaty damage. $'. 00--000',
no deduct ins
July 1, 1990
July 1. 1991
The Aetna Casualty and Surety Company
Public Employee Blanket Bond,$10,000
Bond # F100567101
July 1, 1991
July 1, 1992
The Aetna Casualty and Surety Company
P Told Employee Blanket 9 ond$1 C.D00
Bond # F100567101
Dece^lbarl, 1DDT
December 1, 1651
The Aetna Casualryand Surety Company
EmPlayee Whonely CT Manager,$b0,0Jtr,
Band # 51 F 100540939 BCA
Comptroller, City COIlectorTre.ti,er and
City Clen<, $4C,'.,
i
December 1, 1991
Decerfber 1, 1692
The Aetna Casualty, and Surely Company
Employee dishonesty, City Manager, $50,8]C
Bontl# 51 F 100540939 BCA
Comptroller, Ctry Collnrxor/Geas:.rar and
City Clark, $40.099
August 20,1939
August 20, 1991
The Aetna Casualty, and Surely Compe:ry
Surety Bond - A35istorn City Nara9el, $,O,GOC
Band # 5190198828
August 1, 1)CC
August 1, 1491
Hartford Accident and Indemnify Company
Workmen's obunpensetlon and e;nolti
Policy # V Z-AD8319
Ilabillry - stamuxy
Apd 1, 1991
April 1, 1992
U S. Fidelly and Gualanty Company
Autnmato a Insurance - I abOTy $'. 000,Oat pi
Policy# 1AH30001072201
aCii full comprehensive and 2orslon
average; uninsured motoprt. $25 GCA per
accldam
August29, 1UJo
August 29, 1991
U. S. Fidoli;y and Guaranty Conlpary
Ca. -sena equipment
Policy # CIM 126254038