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Home My WebLink About1991-1992.AuditReportr FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT CITY OF CAPE GIRARDEAU, MISSOURI June 30, 1992 I CONTENTS FINANCIAL SECTION Page independent Auditors' Report 6 GENERAL PURPOSE FINANCIAL STATEMENTS ' Combined Balance Sheet - Ali Fund Types And �. Account Groups 9 Combined Statement of Revenues And Expenditures And Fund Balances - Ali 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 t COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS GENERAL FUND Statement Of Revenues And Expenditures - Budget �. (GAAP Basis) And Actual 49 SPECIAL REVENUE FUNDS r Combining Balance Sheet 50 �- Combining Statement Of Revenues And Expenditures And Fund Balance 51 CONTENTS - CONTINUED SPECIAL REVENUE FUNDS - Continued Page ConventiontTourism Special Revenue Fund - Statement .. Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 52 Downtown Business District Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 53 Parks And Recreation Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 54 Health Special Revenue Fund - Statement Of Revenues W And Expenditures - Budget (GAAP Basis) And Actual 55 Motor Fuel Tax Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 56 Capital Improvements Sales Tax Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 57 Library Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 56 Flood Protection Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 59 M Vision 2000 Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 60 DEBT SERVICE FUND ti Debt Service Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 61 CONTENTS - CONTINUED CAPITAL PROJECTS FUNDS Page Combining Balance Sheet 62 Combining Statement Of Revenues And Expenditures ,. And Fund Balance 63 General Capital Improvement Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 64 Corp Flood Control Capital Project Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And actual 65 W Street Improvements Capital Project Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And W Actual 66 FAU Street Grants Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 67 Community Development Block Grant Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 68 Park Improvements Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 69 ` ENTERPRISE FUNDS Combining Balance Sheet 70 Combining Statement Of Revenues, Expenses And Retained Earnings 71 INTERNAL SERVICE FUNDS y. Combining Balance Sheet 72 .. Combining Statement Of Revenues, Expenses And Retained Earnings 73 CONTENTS - CONTINUED AGENCYFUNDS Combining balance Sheet SINGLE AUDIT SECTION Independent Auditors' Report On Schedule Of Federal Financial Assistance Schedule Of Federal Financial Assistance Independent Auditors' Report On Compliance With Laws And Regulations Based On An Audit Of Financial Statements Performed In Accordance With Government Auditing Standards Independent Auditors' Report On Compliance With The General Requirements Applicable To Major And Nonmajor Federal Financial Assistance Programs Independent Auditors' Report On Compliance With The Specific Requirements Applicable To Major Federal Financial Assistance Program Independent Auditors' Report On Compliance With Specific Requirements Applicable To Nonmajor Federal Financial Assistance Programs Transactions Independent Auditors' Report On Internal Control Structure Related Matters Noted In A Financial Statement Audit Conducted In Accordance With Government Auditing Standards Independent Auditors' Report On The Internal Control Structure Used In Administering Federal Financial Assistance Programs Page 74 76 77 79 LIR 81 EE m M Earley, Janssen, Begley & Company CERTIFIED PUERIC ACCOUNTANTS 2103 THEWS Sl'. -CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 3342846 FAX 1314) Am -4338 i PARTNERS JOHN R. JANSSEN, CPA DEBRA K. JOHNS ' TE. DRY R BEGLEY, CPA KELVIN W. BIRK, GPA LAWRENCE E YOUNG, GPA JENNIFER W STRICH 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, 1992, 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 the Office of Management and Budget Circular A-1.28, 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 financialstatements 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 r' 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. In our opinion, 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, 1992, 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 w W 3 ., individual funds and account groups of the City of Cape Girardeau, Missourias of June 30, 3.992, 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 ` �Ir nqpjes. .. Cape Girardeau, Missouri December 3, 1992 7 GENERAL PURPOSE FINANCIAL STATEMENTS 0 THE NOT ESTOTHH FINANCIAL STATEUEMS ARFAN INTEGRSL PAW OFTHS STAT Efi f, f- I I- F_ F- F- - City or Cape Girardeau, Mlssoml COMBINED BALANCE SHEET ALL FDNC TYPES AND ACCOUNT GROUPS June 30, li 9 Ffdrsvi Gavernnantal Fund Twe Prwthroury RmdTrog Fund Trod A«unint Grei General General S,,i The. Capital Internal Fuetl Lon 7 dins Tolals di emorantlum Only) General Revenue Send, ".,as Enterplse Serve Apenc, Assets Debt 6-3]-92 h Do 91 ASSETS AND OTHER DEERS Assets: collard lrveltri cc[e 9; 197297 2,185.164 593,376 2,452,107 74788 1N0,26.8 531.071 - - 6CS)WI 6, 010, W9 Cacti antl "rte 3) 251420 126,679 5,'b0,014 4.A5014 731,753 39 - - - 11,110919 12815:33 R2celrades, net of all ovenceS'S be, b bete sebles Rsal esi. persolr-1 a ne-ry, ,in 11011:1 pxee ra50) 51,021 32371 13356 101 75,1 112.923 Sa is, 1. 427 403 19.659 - - - - - - - 53:.92 526.637 -1cNse.11 1,Urt 1,310312 1,013,66 4o'sIm 3Ca res .ere l - - 23023 23,023 22620 Resasan: mx rec^.va'as - 31,701 - - - - - - - 31701 28141 vcnar9esrecev=_a'e - - - 99,526 - - - - 9(1 432,437 S reCe'VaSe 19,249 - 4 547.086 247o) ti B&Z 90y277 1,157.956 6W 6,'568 10525 4750 45926 4.160 - - - 72230 71.701 C:'14 12002 L531 - - 47,813 1V966 73112 32491 I,....Hes` Nolns He 15/.195 15>.195 tUJ.228 �a, enm or,me r__ :cables M,Wr 1, ere - 53,930 - - - - - - - 53930 46.676 motor c'c LCCrti^-lues - 17232 _ - - - _ _ _ 11.632 10,819 len: Noor-0 e1, 3x - 12832 - 12632 14012 GaOLi^ecaUe 21,416 32261 31 192.592 e7-, le,11,nte ] 131,059 - - - - - - - - 131,839 OFFS) 645.968 FM_nrzsm Ec,bt JJ 1,7`5 000 - _ - _ _ _ _ _ 17/5,650 145,217 ,n.^,--,i-.ce 861're, A� net, - - - - sa303 19351 - - - <t69 16217 li O:LS B.0 ).149,439 7,149489 2634,212 le,i2^'pe,ei mid aFsrses IY,OL9 18.562 - - 391236 44071 - - - 603,904 335 SON :,Fhosocisl let I. upre0 �v:', �vcn Yeaa: (1r:e ^ - - - - 29.411743 864.813 - 6,108809 - 36387 365 2L110538 Other debits: OmOunt ator Fre-Llett Service Fund - - - - - - - - 5,9$437 !1 5,773.632 F9^. Wt to be ni bed for rebe.Te, ct S,n,,lIons ru, ce7 - - - - - - - - 13,290612 13,290,512 14.731.863 Ano, is be prNyc for tutee a/pant o'con n: Soled absevi 500315 503.315 423,702 Total assets491 J!4 2WgSSS 6S5 7215182 38999704 -1913614 _5S40716.108839 19 693 364 81560503 69435144 THE NOT ESTOTHH FINANCIAL STATEUEMS ARFAN INTEGRSL PAW OFTHS STAT Efi r r- r- r I r- r- I Olt, of Gape Gkara®u, Mesoul COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS June 30, 1992 TH=NOTESTO TNF R NANCIAL STATEMENT S AFL AN INTEGRAL-- n OFT HIS STAT P,' -m Rangy Go,nmental Fund Types `,."cbe Funa Typss Fund Type __A_ounl Groups Gcnval Genual Spccml UP. Capial Internal Fixed Lung -Term Totals IMem onaldum 011,1 Rai �aue Semrx Eruer a Serviue Apes)_ Accets Debt 6-3N-9] 6 -Si -91 LIABILITIES, LOFTY AND OTHLR CREDITS Liabilities: - 1 .167 54.951 1,M2 88,29] CS ILO 1/F.n1' 1157. 5 Tli2'38 1=11c nal1. to, S,'e-..'-1 Foxes tnd '-'Cos 154.766 32583 - - 10,693 37,307 502,937 - SOD 315 131 1M5P e,,to"aJ'e 334,299 - 0 - - 33:,299 1 380 Oc1ar Imo ['vas ' 30.092 6,653 - 167 19562 35 30.079 - - MoU2 35450 Ditto oSH gover-, le'16 19.465 - - 80268 IZ320 - - - - 114,061 9L2118 uetao9atrc-,ce !-:mJ) 131,859 131.659 57;.968 R ,a-homC.—b-o5(T"-'J) - ]5,000 - - 1,700.00 - - - - 1150. 1.145,217 Cleo' Fail 11 ollo'y'-term i,11 notes B F) - - - - 590,628 - - - 1249,&37 1,YE? %5 53749 -r19r . ,c: al .,,in ax. an ,'-,!a tnoteE, - _ _ - 15591908 _ _ _ - 15391.908 1,215,00 -_ on pa,a]-a mote E). �u - _ _ _ _ _ _ _ _ - 117.391 IJ - - - - 5,W9.444 - - - 10,419.712 t5, 408,156 160'0226 za,payacleieE) O Gensal oc NIIC9 ]ne3 payaol9 (n 019 E) - - - - - - - - 3,90500 3,915,0%1 <,23Q00 General oblvalole, refuntlmg mr�av rh-abler [note E) - - - - - - - aSaG.obG lxro oderee�es9ues 2J6 191 14G.3s3 661,969 t zsl.ns4 57e 1 23Q 1`0 L�2J44 1 -169 1:34,741 Tolal liabilities 619.971 321540 501.920 4E6 186 2390299 20,240 534,071 - 19,693,361 46986,91 33598,393 Faulty and other credits: van,"" 2ene'el."n169,'5 6,1D609 - 6,1068[19 - :.TihJtetlGIkGI 4.63426] 4,534267 3M469 -'ser ean:-.gs: aved - - - - 450176 - - - - 15.00) 19000 e,e'1 - - - - 10.298158 1.735,434 - - - 1Z033592 1Z 330672 Fuab 914: r . Fess'aad 2021,351 34574 5,932437 4,366.485 12322.847 13336,638 L,,< e0 1420,032 203,@4 2.395.511 6.059417 636;5,912 Total equity and other nedLLS 3.441,433 2.P8,395 5.902437 6049146 14947425 1.735,434 6, 109. PJ9 41,173,932 15 836 Tocol liabilities, eaulty and Other accM 40_404 299. W8 6464357 7.215.182 389297tH 1948674 5�W1 6.508.039 10.693364 87.560503 69 435 144 TH=NOTESTO TNF R NANCIAL STATEMENT S AFL AN INTEGRAL-- n OFT HIS STAT P,' -m 11 City of Cape Girardeau, Missouri :. COMBINER STATEMENT Of REVENUES AND EXPENDIIUIIGS AND FUND BALANCES ALL GOVERNMENTAL FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1992 r GOVERNMENTAL FUND TYPES TOTALS r SPECIAL DEBT CAPITAL (MEMORANDUM GENERAL REVENUE SERVICE PROJECTS ONLVj P REVENUES r Taxes 7,878,238 2,328,661 260,210 0 10.467,109 Licenses and permits 649,617 0 0 0 649,617 Intergovemmentd 202,501 864,708 8,154 187,826 1,263,189 r Chargesfor services 247,192 185,622 0 0 432,814 I. Interdopmimental services 196,777 0 0 0 196,777 Fines and forbimeas 530,768 13,224 0 0 543,992 Miscclloneous 75,663 35,434 0 0 111,097 FeeFect 128.879 -112 536 427,152 600,253 1,266,820 Ii III_VL N1111: 9,009,635 3,540 led 635,516 _788 079 14,9:1],415 EXPENDITURES ` Current Gonad fl ovornmmrt 842.690 280,361 0 0 1,123,051 Transportation 1,333,497 220,673 0 0 1,554,170 Pub to safety 5,410,213 0 0 0 5,410,213 Health 0 64,001 0 0 84,001 Cemetery 89,627 0 0 0 89,627 r Culture and recreation 0 1,598,586 0 0 1,590,586 Community development 747,212 26,920 0 0 774,132 Into ,departmental 524,225 0 0 0 524,225 Contengency 133,774 0 0 0 133,774 o- Cap,"outlay 0 0 0 2,642,024 2,642,824 Debt service Principal 51,240 0 1,261,195 0 1,312,435 Interest and Ili dlargas 4,063 729 1,410,17_ 2,887 _ 1,417,853 TOTAL EXPENDITURES 9,136,541 2,211.270 2,671,369 2,645,711 16664,891 ` EXCESS (DEFICIENCY) OF REVENUES r OVER (UNDER) FXPENDITURFS 773,094 1,328,915 (1,975,853) (1,857,632) (1,731,476) OTHER FINANCING SOURCES (USFS) Tmns1ors,n 617,500 900,000 1,754,275 336,060 3,607835 Transfer out (1,454,558) (1,828,938) 0 (374,338) (3,657,834) Proceeds from fixed assets 13,608 0 0 0 13,608 Special assessments 4,146 0 350,383 92,992 447,521 TOTAL OTHER FINANCING SOURCES e (USES) (819.304) (928,938) 2,104,658 54,714 411,130 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (46,210) 390,977 128,605 (1,802,918) (1,320,346) FUND HAI. ANCE AT BEGINNING OF YEAR (note 11) 3,487,643 1,888,421 5,773,632 8,552,914 19,702,610 FUND BALANCE AT END OF YEAH _3,441,433 _2,288398 5,902,437 _6749,996 18382264 ` THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF TI I IS STATEMENT. 11 F GENERAL FUND IIllp90 20,722 VAIIIANCE I aS 1p 16 1,333 497 I AVOIIADLE uu1II.LI A$:IIIAL _(UNIAS)11AULQ ]92],1]11 IF (48.932) 1 REVENUES 06A1/ 7-a V Licc1I59I and Pc11N1E 243,860 ma.��u, enm 3errvioav 3,832 0184 poe m; • II luW yvtlFTI I I 1 l2 v !r: I020 lu id ufciluu.. � Llr�r��rl4m.u. Pilin] Inlr..iu.l ' I TOTAL IIEVENUI: S FXPFNDI I DID Cw rnl Cit, of Cnpc Gnurdl:nu, Missouri COMIIINFD SIA ILMI NI OF 111 IF MILS AND I XPENIN l U11ES BUDGET (GMP BASIS) AND ACTUAL. – GLNF AFM AND SPECIAL REVENUE FUND 1YP1 S 4(111 IIIL I SCAI YIIAll I SDI I) .IUNL 30, LU92 a.nmal 9wunrnull GENERAL FUND IIllp90 20,722 VAIIIANCE I aS 1p 16 1,333 497 I AVOIIADLE uu1II.LI A$:IIIAL _(UNIAS)11AULQ ]92],1]11 /p/8236 (48.932) 613200 649,64 06A1/ Ill 912 202501 (10411) 243,860 24/,192 3,832 232,250 196,]]] (5,473) !r: I020 FrIl./66 10.748 III ]I'J Pilin] 11 Pd ' I I]I111/1 1 1_ 9,9714445 9,939,636 5110 a.nmal 9wunrnull .11TIC IIllp90 20,722 Lunsyu Itt-1 I aS 1p 16 1,333 497 17 519 "'It" "I", 5.979451 5,419,210 "12211 H-1111 0 0 0 11,tu 9/ 469 69,62] ] 036 amu, -3l d I t,ro,ll 6 O 0 a–rIL ni1, dow1,,,) FI (84,999 741212 3]76] nerd,patlmeuNl 59),553 524225 3,, 3P8 Gon1o119encY 11),000 133.Y]4 16314) UFA I vr.n 113,291 99),'10 Tim. "L, 51,240 51,240 0 Inl"I" and Ictal c M1m9es 4159 —4 X3 a TOTAL LXPENOITUNFS 9549,197 9,136541 P12 fS6 FXCPSS (UL FICIINCY) OL 111 -VI: NUTS 1W03z t598s1Y1 GVLII LUNDIIIII l XPI NIII I11111_S' 't". ]].1(194 217,646 OILIER FINANCING MOICFS (ASIS) 0 0 0 Tr.InaNa,la F.I11100 1,17100 0 11 OF Io 8411 114.1'4^9) O;cr4?r>nl (' 11--d.IF,-lnnl3l:,r1, 11,111 111.506 (2703) Speci916'A9 Iln061.1 14/1 4,146 1,615 I0 TAI_ 0 IIIL N I INANOI N G S(1 MCI S _(8131216). ,., 111 C, – (6,00) _ (usFs) 0 LXCFSS (DEA IGF NCY) OI IL VLNULS 0 0 (1,128056) AND OT DER FINANCING SOUNCLS -- 21X11100 OVLII EXPENDllDID -SAND (46299] 211,] r OIIILII FINANCING USI.S .)P.5]9fi� mA N0I ISTO IIIL 1 61AuaA1 5W( 1,11 LIS AIDC AN INTEGNAI. PANT 01 118s LIA1 LInLNT. 12 SPECIAL III VI NII)- FUNDS VAI IIANCI I AVOI AIU I _DUDGEI A�TNAL VIN) AV0IIADITI 2.261330 2,328,661 G/nll 0 0 0 842,000 861,700 2:1 "m 170.600 185,622 7022 0 0 10,900 13,2.'.11 2.IP�1 Y/,1,411 ]l I 4 1C.Fli 119614 d1 3426,895 3,`AO.1LG 113,291 99),'10 208381 1/2611 218.351 220,6]3 (L JOT a 6 0 64,016 64,001 11.11 II 1W03z t598s1Y1 IIF. SC�1 20,490 16,910 1 "1 0 0 0 0 0 0 11 0 ]YI 4291 2211331 2211269 61 1'11ti'ifit 1325916 111.35, 9IX1 n0F 9MAnn (9,v.,u 9'.ep U "?lF I It, 1✓ j r1m. 0 0 0 0 (1,128056) _(925,908) -- 21X11100 66126 6999!11 31395) City of Cupu Girardeau, Missouri COMBINED STATEMENT OF IS VI: NIB S AND EXPENDITURES BUDGET (GAAP (IASIS) AND ACTUAL — DEET SERVICE AND CAP?AI. PROJFCTS FUND TYPES FOR THE FISCAL YEAH ENDED JUNE 90, 109< THE NOTES TO THE FINANOIAI. STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 13 Y CAPITAL PROJECTS IFNDS _ ]M,0)9( IIENT SERVICE FUNDS VARIANCL 2(12824 6'FJ385 VARIANCE PUPGLl PST LWAYDHADI I1I FAVOIIAIII.E D 13HECFT ACTUAL JUNFAVOITAULE1 REVENUES 36,00(1 0 (38,000) Tams 246,300 20J,210 11.910 Intergovernmental 6,]00 6,154 (546) M—Ila.ems 0 0 D Inters sl 4.14:12 42].152 23.]20 TOTAI. IIFVFNUFq 660432 610,16 If, HITT EXPENDITURES Current Ca Plul oulhy 0 0 0 Debt sauce ITinc.,l 126I,195 1,261,195 0 In1me51.1111 li—d c1.1 1,195.224 1410,114 04950 TOTAL EXPEN DIT ONES 2,98419 2,671969 (14 950) EXCESS (DEFICIT NCY) OF RFVFNUFS OVER (UNDER) I XIH NHDITLUFS (1275 96]( (1.97 20.191 OTHER FINANCING SOURCES (USES) Tmnsbsln 1,]54,2]4 1SA/11S I Transfer oel 0 0 0 Specal assessments 260,960 360,983 99,403 TOTAL OTHER FINANCING SOURCES (USES) 2,W5,254 2,104,553 99,404 EXCESS (DEFICIENCY) OF RFVFNUFS AND OTHFR FINANCING. SOURCE S' OVI R I XPI NDIIUIIL G AND 9_2_6] _120005 119 SIIR OIHER FINANCING USES THE NOTES TO THE FINANOIAI. STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 13 Y CAPITAL PROJECTS IFNDS _ ]M,0)9( 1.3]_ 0_96) VARIANCL 2(12824 6'FJ385 I AVOHADI.L PUPGLl PST LWAYDHADI I1I 0 D D 3GS 000 1m826 (m.174) 36,00(1 0 (38,000) 522,9]5 600,253 77.270 925,975_ _ ]M,0)9( 1.3]_ 0_96) 3,33a.m9 2(12824 6'FJ385 0 0 0 0 290_ eJW] (257) 3.3J5839 2,845,]10 6%129 Cl _4098FA) {105]631) 5112113 531.060 3w 060 (1'N 940) (66,9'1]) (314.398) (307,411) K)lw 92,992 71b2 549.113 51,714 (4914591 (11160 f91) LiAl2,I10). S7,]/ff r• i 14 Cay DI Cope Girardeau, Missouri COMBINED STATE: MI -NI Of IN VI NUES, L%PENSES AND DFTAINED EARNINGS At 1. PHOPIUl WHY FUND TYPLS 1011 THE IIOCAI Y1 All ENOL 1) !UNP 011, 1992 TOTAI S _PROCBIGTAgY FUNL IYpES 1MF.M4nANDUUM4HLY, IN I LIINAL IaIrHUBISL S,JIVIGF. 1991._1992 OPERATING [it VE NUI[S Federal 9ca,ns 156784 0 156,704 nesldonNw 1h., s 2,1913111 0 2,19),9779 Cron rti umnl cher 9nx 1,374,800 0 1,3]4.809 Imnslel slalion Chagos 205,776 0 235,776 Equipment sales 12.18! 0 12,197 Concess,--,mws 59739 0 59739 Gall eout,n lens 279,612 0 279,012 011 1 .hrvJes 52.789 0 52,789 Int dp I 6l s:rmces 0 1,084366 1,004.360 P 1 77 564 0 77 584 11 11,260 0 11260 o n un 4/?// U09 46,771 re -1 mcnnia 216.:14 12334 al/]O8 1.784 472 192]502 6,711974 Opt RATING I'%ill NSI .1 Pert.onnal .chic cs 1610712 3//,093 2,047.065 Matan.1, and s.,pii), 131,549 063925 498,474 Conlrndual salvincs 1.101264 769,752 1,591,036 Cannot operalin0 expnnsos 176017 1,303 170,1W Spenal ptolecls expcue 95766 0 95786 Inlmnnl Servide ox;)erl 324,107 3,102 327.369 Oaprernl inn expoase 1y0?90 10/716 1147,675 4.513384 1.64'!.971 6.106.355 Of'[ RAF ING INC0 M F 1 I OSS) 2410611 284.531 525,619 NON-OPETAIING 1 -.%PP NSI -S Isseanpo co Illonl,aeun 21.091 0 21,391 Inlemsland hnndlin0 coats _ 002,697 396 803,093 - _ 821066 396 824.104 INCOME (loss) Of Tom 011llil FINANCING GOUIICL S(USI S.) (5113850) 284 135 (29g86S) OTIIER FINANCING SOUFICE S (USES) Transfers In 50,050 181282 231,252 Tiansfars nal 0 (181,RU2) (151,282) Cnm Veru-d�nn for 11rimn9us 0 >,620 7.620 Salo, of fi-d asscls (2 491) 504 (1007) fnason —el nlspna:cd 0 _08,646) (48.048) 4/poli (49,724) 6.785 NE I INC0ME(loss) (535491) 2"tl1 (292.081) RETAINED FARNINC S (III 1ICII) Al 111 GINNING Of YEAH 10,040.649_ 1,492023 12,340.672_ RETAINED EARNINGS (OLf ICIT) AT END OF YEAR 10313150 1_735134 1?,tWtl 591 THE NOTES TO III[ II UANCIAI SWI MI NTS All A141NTEGRAL PART 01 THIS STATCMFNI. 14 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PAW OF THIS STATEMENT. 15 Cash flows from investing activities: r City of Cape Girardeau, Missouri (12,335,051) COMBINED STATEMENT OF CASH FLOWS - 11, 06,656 ALL PHOPn1ETANY FUND TYPES (1,026,395) For the fiscal year ended June 30, 1992 r Net increase in cash and crib equivalents 4,130,63] Increase (Decrease)in Cash and Cash Equivalents 1,426,]0] Cash flows from operating activities' r Operating income (loss) 525,619 Adjustments to reconcile operating income to 643,112 - net cash provided by operating activities: Depreciation 1,14].6]5 r Chan0e in assets and liabilities: (mamas.) docrmse in eocounts rrcaivaNs (383 05,L (increase) decrease in inventory (33,54]) (Increase) decrease Ia prepaid exp,nses (161.699) Iacmaso (docrcese) In accounts payable 37,946 Increase (damcase) In accrued Ilubllities 107,916 Net cash provided by operating activities 1,320,356 Cash flows from noncapital financing activities: Operating transfers in from other funds 911,c00 Operating Iran stars out to ether funds _7,419,444, Net cash provided by noncapital financing activities 491,556 Cash flows from capital and refitted financing activities: ' Proceeds from drvolo pars 121.140 Riccardo from isurnce of revenue bonds 14,0]6,94] Principal paid On ravanue bonds (40,000) Pdncipol paid ch lens, purchase bonds (303,005) Principal gold on lease purchase obligations (136,66]) Interest paid oa bonds and obligations (643,112) Proceeds from sale of cit m. ,ml, Pr perN 293,679 Proceeds from ropital grants recervetl from other governments 582,206206 Purchasa of fired assets (10, 515.560) sis Net cash provided by capital and a ltrad financing activities 3,354,620 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PAW OF THIS STATEMENT. 15 Cash flows from investing activities: Purchase ofinvestments (12,335,051) Proceedsfrom site ofinvestments 11, 06,656 Net cash used In investing activities (1,026,395) Net increase in cash and crib equivalents 4,130,63] Cash and cash equivalents at beginning or year 1,426,]0] Cash .,,it cash aquivnlmds at and of your 5,565'344 Cash paid during the year for interest 643,112 - Non—cash capital financing activities: Contributions affixed assets 137,451 r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PAW OF THIS STATEMENT. 15 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS ` June 30, 1992 r 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. r The financial statements of the City have been prepared in conformity with generally accepted accounting principles (GAAP), as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial. reporting principles. The more significant of the City's accounting policies are described .. below. 1. Reporting Entity r 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 r ability to exercise oversight responsibi.li.ty. The most significant manifestations of this ability is financial interdependency. Other t 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 w upon the application of these criteria, the following is a brief review of each potential component unit addressed in defining the City's reporting entity. Based on the foregoing criteria, the financialstatements of the following entities; are included in the accompanying financial statements. r 16 �. City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 r NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 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 - As described in Note E, the City of Cape Girardeau, Missouri has entered into five 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 r of the Revised Statues 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 r of issuing and securing the Series 1988 Bonds, Series 1989 Bonds, Series 1990A Bonds, Series 1990E Bonds, Series 1991 Bonds and limited additional bonds. These bonds were used to finance construction and improvements to sewer, solid waste, street, airport, flood control 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. r 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 r 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. r 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. 17 r r City of Cape Girardeau, Missouri NOTE TO FINANCIAL STATEMENTS June 30, 1992 NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 2. Fund _Accounti ng 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. r Government resources are allocated to and accounted for in individual funds based upon the purpose 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. r r GOVERNMENTAL FUND TYPES r 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 r 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, which are not financed by Proprietary Funds and Trust Funds. PROPRIETARY FUND TYPES r 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 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. 18 r r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 7992 r NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued Internal. Service Funds - Internal. Service Funds are used to - account for the financing of goods or services provided by one department to other departments of the City, on a cost - reimbursement basis. r FIDUCIARY FUNDS r 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 of operations. r r GENERAL FIXED ASSETS AND GENERAL LONG-TERM DEBT ACCOUNT GROUPS General. Fixed Assets (GFA) - The General Fixed Assets Account r 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. Depreciation is recorded on general fixed assets. The City did not previously maintain a General Fixed Asset Account r Group. General Long -'Perm Debt Account Group - The General Long -Term r 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 r 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. Depreciation has been provided on all capitalized assets, except for land. - All fixed assets are valued at historical cost or estimated historicalcost if actual historicalcost is not available. Donated assets are valued at their esti.mated fair value on the date donated. Repairs and maintenance are recorded as expenditures; renewals and betterments are capitalized. The City did not previously maintain a General Fixed Asset Account Group. 19 r City of Cape Girardeau, N_ssouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTES A - SUMMARY OF ACCOUNTING POLICIES - Continued ` 3. Fixed Assets - Continued 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. 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 r 4. Basis of Accounting 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 r HN r City of Cape Girardeau, Missouri NOTE TO FINANCIAL STATEMENTS June 30, 1992 NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 4. Basis of Accounting 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. w The accrualbasis 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. i 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 Biidgetary_Accounting The City follows these procedures in establishing the budgetary data reflected in the financial statements. 21 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 r NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 5. Budget�_and _Budgetary Accounting - Continued t 1. The City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July I. 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 he 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 original appropriations which were amended. r 6. Inventories Inventories consist primarily of supplies, valued at cost, which approximates market. Cost is determined using a weighted average method. The cost 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. r 22 City of Cape Girardeau, Missouri NOTE TO FINANCIAL STATEMENTS June 30, 1992 + NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued B. 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 Onlv 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. r 10. Med ical 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, 1992. Dependent coverage is funded by charges to employees. 11. Cash and Cash Eauivalents r 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. r 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. w 2.3 r �. City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 13. Prepaid Items Payments made to vendors for services that will benefit periods beyond June 30, 1.992 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 construction" account is used to report those proceeds of revenue bond issuances that are restricted for use in construction. The "revenue hand current debt service" account is used to report resources set aside ., to make up potential future deficiencies in the revenue bond current debt service account. 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 r 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. 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/Payables During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. 24 .. City of Cape Girardeau, Missouri NOTE TO }:INANCIAL S;TATEMF.NTS June 30, 1992 NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 17. Short-term Interfund Receivables/Payables - Continued r These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Short -tern r interfund loans are classified as "interfund receivables/payables". r 18. Advances to 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 financialresources and therefor arc not available for appropriation. r 19. Post -Employment health Care Benefits > In addition to the pension benefits described in Note It, 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 N). Currently, nine employees meet those eligibility requirements. The City provides heal L.h care coverage for them until age 65. The cost of retirees' health care benefits is recognized as an expenditure as premiums are paid. For 1992, those cost:: totaled $11,267. r COBRA Benefits - Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the City provides health care benefits ` to eligible former employees and eligible dependents. Certain requirements are outlined by the federal government for this coverage. The premium is paid in full by the insured on or before the tenth (10th) day of the month for the actual month covered. This program is offered for a duration of 18 months after the termination date. There is no associated cost to the City under this program, and there were not any participants in the program as of June 30, 1992.. NOTE B - CASH AND INVESTMENTS 1. Deposits At June 30, 1992, the carrying amount of the City's deposits was $343,126 and the bank balance was $338,776 which excludes $4,350 of petty cash funds held at various City locations. The deposits are categorized in accordance with risk factors created by governmental reporting standards. 25 City of Cape Girardeau, Missouri F' NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE B - CASA AND INVESTMENTS - Continued 1. Deposits - Continued Carrying Bank r Amount Balance Category #1 $106,174 106,174 p Category ii2 236,952 232,602 ` Category 83 - - Category ql includes deposits covered by depositing insurance or collateral held by the City in the City's name. ` Category 1'2 includes deposits covered by collateral held by the financial institution's trust department in the City's name. r Category {i3 includes deposits which are uncollateralized or the collateral is held by the financial institution's trust department but not in the City's name. 2. Investments Investments made by the City ar summarized below. The investments that are represented by specific identifiable investment securities are classified as to credit risk by the three categories described y. below: .. Category 41 Insured or registered, or securities held by the City ` or its agent in the City's name. r Category ',f2 Uninsured and unregistered, with securities held by the counter -party's trust department or agent in the City's name. Category R3 Uninsured and unregistered, with securities held by the counter -party, or by its trust department or agent but not in the City's name. 26 27 City of Cape Girardeau NOTES TO FINANCIAL STATEMENTS June 30, 1992 r NOTE B - CASH AND INVESTMENTS - Continued r r 2. Investments - Continued Category Carrying Market 2_ #3 Value Value Repurchase Agreements $ 6,113,248 $- $- $ 6,113,248 $ 6,113,24B Certificates of Deposit- Insured By Agencies of .. U.S. Government 1,717,666 - - 1,717,666 1,717,666 U.S. Government Securities 8,720,546 - - 8,720,546 8,782,609 Money Market Account U.S. Government Securities 1,059,175 - - 1,059,1.75 1,059,1'75 Mutual Fund-Franklin Adjustable U, S. Government r Securities Fund 4,101,322 - - 4,101.,322 4,101,322 State Revolving Fund Program 2,331,452 - - 2,331,452 2 337 452 $24,043,409_ $- $- $24,043,409 $24,105,472 Investments in Deferred Compensation Plan 502.937 502.937 24 545 _346 $24,608,405 Included in the amounts shown above is $3,577,436 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 and are generally 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 nr instrumentalities. 27 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 r NOTE C. - PROPERTY TARES Property taxes attach as an enforceable lien on property as of January 28 Taxes were levied on August 19, 1991, 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 .04/1.00.00 assessed valuation Debt Service Tax .10/100.00 assessed valuation r Special Business District .80/100.00 assessed valuation #2 (Ad Valorem) Reserve for doubtful property taxes at June 30, 1992, was $23,871. NOTE D - CHANGES IN FIXED ASSETS Additions and deletions to the Enterprise Funds for the fiscal year 1992 were $10,450,432 and $353,466, respectively. Included in the additions to the Enterprise funds oro $8,922,804 additions to the Water System. Additions and r deletions to the Internal Service Funds were $280,739 and $297,11.0, respectively. A summary of proprietary fund type property, plant and equipment at June 30, ` 1992 follows: Internal Enterprise Service r Land $ 546,439 $ 37,500 Buildings 9,"/56,387 363,214 .. Improvements other than buildings 26,607,632 23,714 Equipment 2,653,540 852,166 Construction in progress 758.320 - $40,322,318 $ 1,2/6,594 Less accumulated depreciation 10,908,575 41.1,781. r $29,413,743 $ 864,81.3 28 r r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE E - LONG-TERM OBLIGATIONS r The following is a summary of bond transactions of the City for the year ended June 30, 1992. General Leasehold ` Obligation Revenue Revenue Bonds Bonds Bonds Total ` Bonds payable at $ 7,820,000 $ 1,255,000 $18,555,000 $27,630,000 July 1, 1991 r Nnamortized discounts - (11.8,092) (71,844) (189,936) Bonds Issued 14,340,000 - 14,340,000 r Bonds Retired (160,000) (40,000) (].,485 000) (1,685,000) Bonds payable at June 30, 1992 7,660 000 $15 436 416_98 156 $40L 095 n64 r Bonds payable at June 30, 1992 are comprised of the following individual issues. r $4,080,000 1984 Public Building serial bonds due as follows: Year Ending Interer.t Principal. Interest June 30 Rate_ Due Due Total _ ,. 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,_080,000_ 9577575 Si,_0.3�575 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 r to retire the remaining $3,510,000 of the 1984 Public Building serial bonds. 29 $.3,.5801000 $2_,074,346 $ 597_,_1.25 $5,057,221 Principal payments are made annually on November 1, and interest payments are r 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 $4,080,000 principal amount of the outstanding Series 1984 Bonds of the City. ti 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"). 30 City of Cape Girardeau, Missouri. r NOTES TO FINANCIAL STATEMENTS June 30, 1992 ` e NOTE E - LONG-TERM OBLIGATIONS - Continued $3,580,000 1987 General Obligation Refunding Bonds due as follows: t �,,. J :� �• k.� Interest ,. Year Ending Interest Principal Interest Earned on June 30 Rate Due Due Escrow Total 1993 $ - $ 238,628 $ 238,628 $ - r 1994 - 238,628 238,628 - 1995 - 238,628 119,869 118,75 1996 6.00% 265,000 230,678 - 495,678 1997 6.15 280,000 214,117 - 494,1.1.7 1998 6.30 295,000 1.96,215 - 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,.5801000 $2_,074,346 $ 597_,_1.25 $5,057,221 Principal payments are made annually on November 1, and interest payments are r 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 $4,080,000 principal amount of the outstanding Series 1984 Bonds of the City. ti 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"). 30 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS ` June 30, 1992 NOTE E LONG-TERM OBLIGATIONS - Continued The principal amount of the Escrowed Securities, together with the interest income thereon, willbe 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 states 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. r $1,215,000 1986 Sewerage System Revenue Bonds due as follows. Year Ending Interest Principal Interest June 30 Rate Due Due Total 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 r 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 11.0,000 41,490 151,490 0 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_ $1,215,000 X857,962 `i2�0721.962 Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. 31 r r 32 r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 i NOTE E - LONG TERM OBLIGATIONS - Continued $11,840,000 Waterworks System Revenue Bonds Series 1992 due as follows. Year Ending Interest Principal Interest r June 30 Rate Due Due Total 1993 $ - $ 667,414 $ 667,414 - 1994 4.25$ 25,000 760,345 785,345 1995 4.75 115,000 759,283 874,283 1996 5.00 145,000 753,820 898,820 1997 5.25 185,000 746,570 931,570 1998 5.50 225,000 736,857 961,857 1999 5.70 275,000 724,483 999,483 2000 5.90 320,000 708,807 1,028,807 " 2001 6.00 370,000 689,928 1,059,928 2002 6.10 425,000 667,727 1,092,727 2003 7.45 485,000 641,803 1,126,803 - 2004 7.45 555,000 605,670 1,160,670 2005 7.45 625,000 564,322 1,189,322 2006 6.40 705,000 517,760 1,222,760 2007 6.40 790,000 472,640 1,262,640 2008 6.40 885,000 422,080 1,307,080 2009 6.40 985,000 365,440 1,350,440 2010 6.40 1,095,000 302,400 1,397,400 2011 6.40 1,210,000 232,320 1,442,320 ., 2012 6.40 2,420,000 154,880 2,574,880 TOTAL1,H40,000 11,494,549 x23,334 549 r These bonds are dated April 15, 1992. The proceeds of the bond issue were used to purchase, extend and improve the water system serving the City. The purchase of the water system occurred on June 3, 1992. ` Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1 and September 1. r 32 r + These bonds are dated December 1, 1991. The proceeds of the bond issue will be used to extend and improve the existing sewerage facilities serving the City. Principal payments are made annually on June 1, and interest payments are made semi-annually on June 1 and December 1. The interest due on the 1991 .Sewer System Revenue Bonds will be subsidised by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds held by the trustee, the Department of Natural Resources will deposit an amount equal to approximately 51.907% of the reimbursement into the reserve fund. The maximum amount of funds that will be advanced to the reserve fund will be $1,250,000. As bonds are paid off 50% of the amount of bonds paid off will be repaid to the Department of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30, 1992 was $50,118. The reserve fund yields 6.71%. 33 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE E - LONG-TERM OBLIGATIONS - Continued r $2,500,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1991 due as follows. + Year Ending Interest Principal Interest June 30 Rate Due Due Total 1992 $ - $ 83,187 $ 83,187 1993 - 166,374 166,374 1994 - 166,374 166,374 . 1995 5.400% 65,000 166,374 231,374 1996 5.600 70,000 162,864 232,864 1997 5.800 75,000 158,944 233,944 1998 6.000 80,000 154,594 234,594 + 1999 6.200 80,000 149,794 229,794 2000 6.300 85,000 144,834 229,834 2001 6.400 95,000 139,479 234,479 2002 6.500 100,000 133,399 233,399 2003 6.600 105,000 3.26,899 231,899 2004 6.875 110,000 119,969 229,969 2005 6.875 120,000 112,406 232,406 + 2006 6.875 130,000 104,156 234,156 2007 6.875 135,000 95,219 230,219 2008 6.875 145,000 85,937 230,937 ` 2009 6.875 155,000 75,698 230,698 2010 6.875 165,000 65,312 230,312 2011 6.875 175,000 53,969 228,969 +. 2012 6.875 190,000 41,937 231,937 2013 6.875 205,000 28,875 233,875 2014 6.875 215 000 `14.781229,_81 + TOTAL IL-J99 $5,051.375 + These bonds are dated December 1, 1991. The proceeds of the bond issue will be used to extend and improve the existing sewerage facilities serving the City. Principal payments are made annually on June 1, and interest payments are made semi-annually on June 1 and December 1. The interest due on the 1991 .Sewer System Revenue Bonds will be subsidised by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds held by the trustee, the Department of Natural Resources will deposit an amount equal to approximately 51.907% of the reimbursement into the reserve fund. The maximum amount of funds that will be advanced to the reserve fund will be $1,250,000. As bonds are paid off 50% of the amount of bonds paid off will be repaid to the Department of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30, 1992 was $50,118. The reserve fund yields 6.71%. 33 34 ` City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE E - LONG-TERM OBLIGATIONS - Continued r $2,835,000 Building and Equipment Leasehold Revenue Bonds, Series 1988 due as follows. Year Ending Interest Principal Interest September 1 Rate Due Due Total. 1992 6.40 $ 330,000 $ 180,120 $ 510,120 1993 6.50 355,000 158,023 51.3,023 1994 6.60 375,000 134,110 509,11.0 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 X835,000 $__74570113 ,580201 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 he paid by CGPFA 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. The bond principal is allocated as follows: $1,145,788 - Sewer Fund; $880,802 - Solid Waste Fund; and $808,410 - 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. 34 35 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS .lune 30, 1992 NOTE E - LONG-TERM OBLIGATION - Continued r $4,370,000 Building and Equipment Leasehold Revenue Bonds (Street and Sewer Improvement Project), Series 1989 due as follows. Year Ending Interest Principal Interest March 1 Rate Due Due Total r 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 r 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 14 _370, 000 $1,,8370-75 6 2.07L 075 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. The bond principalis allocated as follows: $2,485,361 - Sewer Fund and $1,884,639 - 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. 35 r 36 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS r NOTE E - LONG-TERM OBLIGATION - Continued $5,295,000 Building and Equipment Leasehold Bonds, Series 1990 A and B, due as follows. $4,270,000 Series 1990A r Year Ending Interest Principal Interest March 1 Rate Due Due Total r 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 ` 1996 6.25 450,000 198,530 648,530 1997 6.35 4800000 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. 2.80 r $4,270,000 1 432 660 $5.7.02660 r $1,025,000 Series 1990B ` Year Ending Interest Principal. Interest . March 1 Rate Due Due Total r 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 600000 59,893 119,893 1997 6.50 65,000 56,052 121,052 s 1998 6.60 650000 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 BO,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 900000 21,000 111,000 ` 2005 7.00 210,000 14.700 224.700 11,.925�O00 $_ 589 020 _$ 4 020 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 1990B Series bonds is to acquire, construct, improve, and repair the City's airport facilities. 36 r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE E - LONG-TERM OBLIGATIONS - Continued - 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. - $4,570,000 Building and Equipment Leasehold Revenue Bonds, Series 1991 Year Ending Interest Principal Interest r March 1 Rate Due Total _Due r 1993 5.25% $ 420,000 $ 267,561 $ 687,561 r 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 r 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_1.7.0_,000 69,375 1,179 375 $4,570,000 $1,410,344 X5_`80 _344 �. 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 r of the 1991 bonds is to acquire, construct, improve, widen, repair and enlarge creek channels and a dry detention reservoir for the purpose of flood control. The bond liability for these bonds is recorded in the General Long -Term Debt ` Account Group. w Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. 37 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 r NOTE E - LONG-TERM OBLIGATIONS - Continued In the Sewer Fund, $208,783 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 $ 465,598 Solid Waste Fund 121,626 Debt Service Fund 1,712,338 ` Airport Fund 11.2.958 Total§2212_,. 520 M. The annual requirements to amortize all debt outstanding as of June 30, 1992 including total interest payments of $23,270,066 are as follows. General Leasehold Year Ending Obligation Revenue Revenue June 30 Bonds Bonds Bonds Total r 1993 $ 571,360 $ 1,974,135 $ 2,622,343 $ 4,167f838 - 1994 567,073 1,093,242 2,613,240 4,272,555 1995 4,017,901 1,242,928 2,592,696 7,853,525 1996 495,678 1,275,207 2,590,797 4,361,682 1997 494,117 1,309,536 2,575,281 4,278,934 1998 491,215 1,340,599 2,551,895 4,383,709 +� 1999 491,764 1,373,173 2,556,821 4,421,758 2000 495,385 1,406,839 3,016,412 4,918,636 2001 492,105 1,446,058 668,845 2,607,008 2002 491,955 1,475,416 650,270 2,617,641 2003 494,548 1,510,191 310,000 2,314,739 2004 494,655 1,548,439 111,000 2,154,094 2005 497,040 1,579,529 224,700 2,301,269 ` 2006 - 1,618,916 - 1,618,916 2007 - 1,492,859 - 1,492,859 2008 - 1,538,018 - 1,538,018 2009 - 1,581,409 - 1,581,409 2010 - 1,627,713 - 1,627,713 " 2011 - 1,671,289 - 1,671,289 2012 - 2,806,818 - 2,806,818 2013 - 233,875 - 233 875 . 2014 - 229,781 229,781 ,30 ,375, 970 _$220.84,300 iS63555 066 $598,376 is available in the Debt Service Fund to service the general obligation bonds. This does not include the $3,577,436 available to apply to refunding of 1984 series bonds. In the Sewer Fund, $208,783 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 $ 465,598 Solid Waste Fund 121,626 Debt Service Fund 1,712,338 ` Airport Fund 11.2.958 Total§2212_,. 520 M. - City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS r" June 30, 1992 r NOTE E - LONG-TERM OBLIGATIONS - Continued Included in restricted cash on the balance sheet is $2,801,312 which is the balance in the various project accounts which represent incompleted projects at June 30, 1992. 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. NOTE F - CAPITAL LEASE OBLIGATIONS In prior years, the City acquired 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. Only one capital lease obligation existed as of June 30, 1992. This — obligation was paid off in July 1992 and is therefore shown as a current obligation in the balance sheet. The June 30, 1992 balance of this obligation was $119,965. - NOTE G - DEFICIT FUND BALANCES The following individual funds have deficit fund balances at June 30, 1992. Enterprise Funds Water $180,790 Solid Waste Fund 235,856 Golf Course Fund 127.727 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 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, 1992. 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 4% per year compounded annually, attributable to inflation, (c) additional projected .. salary increases ranging from 0.0% to 3.4% per year, depending on age, attributable to seniority/merit, and (d) pre- and post-retirement mortality based on the 1984 Group Annuity Mortality Table set back no years for men and 6 years for women. At February 28, 1992, the assets in excess of the pension benefit obligation were $216,210, determined as follows: 40 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS r June 30, 1992 NOTE H - PENSION PLAN r r 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 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, 1992. 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 4% per year compounded annually, attributable to inflation, (c) additional projected .. salary increases ranging from 0.0% to 3.4% per year, depending on age, attributable to seniority/merit, and (d) pre- and post-retirement mortality based on the 1984 Group Annuity Mortality Table set back no years for men and 6 years for women. At February 28, 1992, the assets in excess of the pension benefit obligation were $216,210, determined as follows: 40 The City of Cape Girardeau's contribution for 1992 of $579,288 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, 1992, (the date of the most recent actuarial valuation), the total unfunded liability for benefits accrued was $1,798,319. 41. r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE H - PENSION PLAN - Continued r 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 264,408 Current employees -- Accumulated employee contributions including allocated investment income 1,473,874 Employer financed - Vested 5,193,908 Employer financed - Non -vested 916,751 Total Pension Benefit Obligation 7,848,941 r Net Assets Available for Benefits; at Cost: 8,065,151 Assets in Execem of the Pension Benefit Obligation $216,2._10 3. Fundina 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 1992 of $579,288 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, 1992, (the date of the most recent actuarial valuation), the total unfunded liability for benefits accrued was $1,798,319. 41. r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS Tune 30, 1992 NOTE H - PENSION PLAN - Continued r .. 4. Trend Information r 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). r (1) (2) (3) (4) (5) Pension Net Assets Benefit Percent Unfunded Annual Valuation Available Obligation Funded PBO Covered Date For Benefits (PBO) (1)/(21 (2)/(1) Payroll 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 ` 02/29/92 8,065,151 7,848,941 103 (216,210) 6,449,622 (6) Unfunded PTO as a Percent of Covered Payroll L4.1/(5) 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. r 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 r 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 smaller this percentage, the stronger the plan. 42 r r r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS ,. June 30, 1992 NOTE H - PENSION PLAN - Continued r 4. Trend Information - Continued r 43 Member Employer Fiscal contri- contri- Investment year butions butions Income Total r 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 t 6/30/92 - 579,287 639,449 1,218,736 r Expenses by tune Fiscal year Benefits Refunds Total 6/30/88 $265,824 $ 59,276 $325,100 it 6/30/89 261,462 74,345 335,807 6/30/90 237,267 37,860 275,127 6/30/91 241,459 21,302 262.761 6/30/92 286,652 18,721 305,373 NOTE I - INTEREST EXPENSE Interest cost totaling $2,136,092, excluding $84,854 of interfund interest, was incurred during the year ended June 30, 1992. No interest cost was ` capitalized as part of the cost of assets constructed during the period. r NOTE J - INTERFUND RECEIVABLES AND PAYABLES r The following is a summary of the amounts due from and to other funds. Due from Due to General Fund $1,906,859 $ - Sewer Fund - 381,655 Water Fund - 81,114 r Solid Waste Fund - 1,000,000 Library Fund - 75,000 Golf Course Fund - 325,000 r Airport Fund - 44,090 1 906 859 1.906.859 r 43 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 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 30,1992 was as follows. Sewer water Solid Waste Golf Course Airport Total Fund Fund Fund Fund Fund Enterprise Operating Revenues S 1,982,273 S 316,400 S 1,797,135 $ 363,662 S 325,002 S 4,784,472 Depreciation 584,833 21,875 227,946 32,551 172,754 1,039,959 Operating Grants - - - - 156,784 156,784 operating Income (Loss) 375,080 (51,746) 125,449 17,297 (224,992) 241,088 Other Financing Sources Operating transfers in - - - - 50,000 50,000 Sales of fixes assets (2,548) - 57 - - (2,491) Sales of investments - - - - - Net Income (Loss) (113,350) (180,790) 15,297 (4,916) (251,732) (535,491) Current Capital Contributions 647,732 - - - 193,066 840,798 Transfers - - - - - - Property, Plant and Equi pnent Additions 1,097,518 8,922,804 113,307 19,951 215,768 10,369,348 Net working Capital 3,819,899 2,640,188 (693,519) (457,698) 666,742 5,975,612 Total Assets 21,108,657 12,287,623 1,722,075 345,293 3,466,056 38,929,704 Bonds and Other Long - Term Liabilities Payable from operating revenues 7,294,312 11,721,908 871,395 119,965 1,014,400 21,021,980 Payable from other sources - - - - - Total Equity 13,138,596 (180,790) (235,856) (127,727) 2,353,202 14,947,425 44 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 NOTE M - EXCESS OF EXPENDITURES OVER BUDGET The following individual funds of the City contained expenditures which exceeded the revised fund budget. Fund Budget Actual Difference General Fund 106,648 122,852 (16,204) Human Resources Management $ 98,799 $100,733 $ (1,934) City Attorney 153,904 156,184 (2,280) Contingency 127,000 133,774 (6,774) Special Revenue Funds 235,404 270,356 (34,952) Municipal Band 24,065 26,544 (2,479) Recreation 162,988 175,855 (12,867) Capaha Pool 47,446 50,221 (2,775) Motor Fuel Fund Capital Outlays 218,351 220,673 (2,322) Vision 2000 18,250 19,432 (1,182) Library operations 453,350 461,964 (8,614) Library Gifts & Memorials 1,750 3,135 (1,385) Library Equipment 18,474 20,170 (1,696) Capital Projects Street Assessment Projects 653,045 920,870 (267,825 Enterprise Funds Solid Waste -Landfill Operation 64,868 75,175 (10,307) Golf Course -Pro Shop 106,648 122,852 (16,204) Airport Fund -Operations 542,667 549,994 (7,327) r Internal Service Funds Fleet Management 943,504 968,211 (24,707) ` Data Processing Center 235,404 270,356 (34,952) 45 v City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1992 46 r NOTE N - RESERVATION OF FUND EQUITY At June 30, 1992, the City has reservations of its fund equity as follows. ' General Fund r Reserved for prepaid expenses 156,029 Reserved for advances 1,775,000 Reserved for mausoleum maintenance 46,890 Reserved for police projects 43,432 r Special Revenue Funds Parks and Recreation Fund Reserved for prepaid expenses 11,541 Library Fund Reserved for prepaid expenses 7,021 Reserved for restricted donations 16,012 r Debt Service Fund Reserved for debt service 51902,437 Capital Projects Funds General Capital Improvements Fund r Reserved for debt service - Corps Flood Control Fund Reserved for debt service 206,057 Reserved for capital improvement 4,101,719 Street Improvement Fund Reserved for debt service 7,460 W, Community Development Block Grant Reserved for economic development loan repayments 53,249 Enterprise Funds Sewer Fund ` Reserved for debt service 15,000 NOTE O - COMPOSITION OF RESTRICTED ASSETS r At June 30, 1992, the City has restricted in its Enterprise funds as follows. �. Revenue Bond Bond Sinking and Construction Reserve Fund Total Sewer Fund $2,440,714 $1,124,381 $3,565,095 r Water Fund 1,420,855 1,313,169 2,734,024 Solid Waste Fund (151) 121,626 121,475 Airport Fund 615,937 112.958 728,.395 r $4_,477_,355 $2,672 134 $7,149489 46 r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30. 1992 NOTE P - PRIOR PERIOD ADJUSTMENT r The beginning fund balance of the FAN Street Grant Fund, a Capital Projects Fund, was decreased by $32,926 due to the correction of a prior grant receivable. The memorandum totals for the prior year have been restated for the effects of this adjustment. 47 r m ` COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS n I w 48 CRY of Cape Giraffle013, Missouri GENERAL FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 REVENUES Taxes Licenses and perils Intergovernmental Charges for sevices InleWepnrlrnenlal smvices Fines and forfeihues Miscellaneous Interest TOTAL REVENUES EXPENDITURES Crutent Gfnelnl joven illel It ldnmgx,,[ dlun Public Saely Cemetary CQunmunity development Interdeparhnenlal Contingency Debl Sei MGe PrutclPal Interest orxi 1lscai charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Transfers In Transfer out Proceeds from Ilxed assets _ Special assessments TOTAL OTHER FINANCING SOURCES (USES) r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES ` OVER EXPENDITURES AND r OTHER FINANCING USES BUDGET 7,927,170 613 200 212,912 243,860 202,250 520,020 64,512 120521 9,904 445 863,412 I,3bl 016 5,509,451 97,463 784,999 560 553 127 000 51 240 4 063 9,349,197 ACTUAL 7,878,238 649,617 202,501 247,192 196,777 530,768 75,663 128,879 9,909 635 842,690 1,333,491 5,410,213 89,627 747,212 524,225 133,774 51,240 4,063 9,136,541 555 248 773,094 617,500 617,500 (1,449498) (1,454,558) 16,311 13,608 2471_ 4,146 (813,216) (819304) _(257,968) (46210) VARIANCE FAVORABLE (UNFAVORABLE) (48,932) 36,417 (10,411) 3,332 (5,473) 10,748 11,151 8,358 _5,190 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 49 20,722 17.519 99,238 7,836 37,787 36,328 (6,774) 0 0 212,656 217,846 0 (5,060) (2,703) 1,675 (6,088) 211,758 r- r r- r r I r„ I. r _- r F -_ r r r- r -- r F_ r_ - I- c!ty at oepe Girardeau, Mlssou'i SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET June 30, :392 THE NOTES TO TR E EI N AN CIAL $TATEG ENTS ARE AN INTEGRAL PART OF THIS STATEMENT DOHleovm Capital eomrentiW Busid. Psrl¢snit Manor Imprwemem Fided V-- Tone Mennoraneim onN 1 Tounsrn Diene, Heeealpn Hsi Fuel Too, Sales Tez tube, ProdAden 2000 6-30-92 6-30-91 ASSETS anC :nveelmen5 428,025 29901 123.881 85,]]8 183880 1033,183 232646 6.640 11,230 2.135,164 1]N8, 429 Asn anb Cell 110.666 0 0 0 0 0 16,013 0 0 1.26.679 119,151 shoed 01 aIIL`KnL951Lr es, netale -WIb"I'l a dbY'Jlr Rtol It Fix 0 1.864 0 5,384 0 0 18.033 0 0 25,881 2],1]9 prop Personal ex 4v 0 0 0 1 47 0 0 5.026 0 0 6496 6,223 Holel-motel tax recervaele 23.023 0 0 0 0 0 0 0 0 23.023 22,620 Fesavarf. to. recelreble 31,101 0 0 0 0 0 0 0 0 31.701 28,141 NC:or 0 0 0 0 53,930 0 0 0 0 53,930 46,6]5 1. n Ve N.obr -IIt LGenee'ees 0 0 0 0 11.232 0 0 0 0 11.254 10,629 Mdacr it, stales ax 0 0 0 0 12,832 0 0 0 0 12.832 10812 ee e,ve CnC reLeivables 0 0 0 1 0 0 1.530 0 0 1.531 718 Sve5 0 0 0 0 0 11)6.659 0 0 0 106,659 100 748 r 730 0 0 0 0 A450 1,042 0 0 6.226 6998 Grantstreceaedle Ganlsreceotb 0 0 0 0 0 0 0 0 D 0 0 Assels 0 0 0 0 0 0 0 0 0 0 0 nne,ned expens!5 0 0 11.541 0 0 0 7,021 0 0 18.562 16900 Due Ito Due Rom on 0 0 0 0 0 0 0 0 D 0 0 c7luntls In Adren:esher ru-ds 6 0 0 D o D o 0 0 0 0 594145 31765 135422 92633 261.896 1194296 281,911 6 0 11230 26 .938 2197232 UANUTIESANOFUND EWITY Aeo.F. hyable 22,172 0 35,620 2,33] 0 D 4,747 0 75 61,951 95,448 Accrued Ilo Ult to SaHnee, pd.laxe5 a,d benefits 0 0 25,229 780 0 0 5,574 0 0 32,583 30914 Dtne'IabII[Ies 0 0 3,653 0 0 0 0 0 0 8,653 8,817 Dane :o omen funds o 0 0 0 0 0 0 0 0 0 0 A]vance to m omb mnos 0 0 0 0 0 0 75.000 0 0 15DDo 59,713 Delgrebrevenue 110666 1.864 0 6,244 0 0 21,579 0 0 140,353 113,859 Fund be once Reserved 0 0 11,541 0 0 0 23033 0 0 3y574 47,633 onesarved 461_30] 29.901 53.3]9 83_272 261896 1.194296 151.978 6640 11.155 2253824 1940788 461_307 29,901 64920 8392 251896 1 19296 175_011 6_640 11_155 2--SS'398 1W8421 594145 31265 135422 92633 21 1,6M 119d296 281911 664D 11230 2609933 2 19723 THE NOTES TO TR E EI N AN CIAL $TATEG ENTS ARE AN INTEGRAL PART OF THIS STATEMENT Gay M CapefvwNSM`. Mls—D IA SPECL REIENUE FUNDS COMBINING STATEMENT G£ REVENUES AND EXPENDITURES AND FUND BALANCE FOR THE FISCAL YEAR ENDED URINE 9, 1992 TFE NOTES 707HE SNANGA-STATEVA\TS ARE AN N-EGFA_=A"OF--IC SA-EWN'. DGWNTOWX CAPITAL TOTALS CONVENTION/ BUSINESS PARKS AND MOTOR IMPROVEMENT FLOOD VISION (MEMORANOVM TOVflSM D5THIGT RECREATION NEALT- _F_HCL TAX _SALES TAX LIBRARY PROTECTION 2'AJ ONLY) REVENUES TdiPs 62t 060 24,6W 10, 0 1229 3°5382 0 0 ' FR'.I 0 0 0 - 'Al'Al617 0 0 0 96..706 ClX"tY s --V 0 17BbO 0 0 ].12 0 0 135622 FR,S,E klwes 0 0 0 0 1322. 0 0 '3 21. x.,.—A 0 0 t2.39 0 0 10002 2993 'E,<3f Ltaest ],199 'A 4FS3 all. 1569) 5-a.Wt 14.56 30J 661 n2536 TOTAL REVENUES - - - 5:.]C2 = -'322J -'950 A,355.19 EXPENDITURES Omm F—ralm YFFent .1.1 00 0S 0 0 0 260.361 Fla, 1.19 0 0 0 223,673 0 0 0 0 220673 .AIP1 0 0 0 3 0 08..00: GIN - AI le<1eaRm 0 0 .,113. F 0 .85,586 11911 HP Commnlry RYA,."I 0 230 0 0 0 7.259 0 O 19 U12 2fi.520 DR. .1. Invest end is l Pages 0 F 0 0 0 0 0 729 TOTAL EXPENDITURES 200151 230 I'll. &1 220673 9-32 21:210 US EXCESS (DEFK:IENCY)OF REVENUES N OVER(U NEER) EXPENDITURES B90 25J73 19t9MT 26F.3 629.069 190565 1175.1 '5",I) IY26915 OTHER FINANCING SOURCES 1HSES) 'ta¢leliH0 000RF0 0 0 F 0 A AAR —.A wi (2B000NF 6030J01 I}t 0933 0 0 TOTAL OTHER FINANCING E WRCES (USES) 10..., 0 0 1600Wy 19.AS. 0 0 0 19299361 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHE A FINANCING USES 7B69S 25373 1:50271 26.,5 25.099 322021 (5]E36) 303 5778) 399 W] FUND BALANCE AT BEGINNING OF YEAR 3026C9 .520 83 5.7 563.E 232829 972269 A3Tl Se33 t6.B.21 F UND E ALANCE AT END OF YEAR .613W 19901 6..920 63.1? 261,656 1 l.. 95011 66.01155 E29.390 TFE NOTES 707HE SNANGA-STATEVA\TS ARE AN N-EGFA_=A"OF--IC SA-EWN'. r r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 52 r r City of Cape Girardeau. Missourl CONVENTION/TOURISM SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL r FOR THE FISCAL YEAR ENDED JUNE 30, 1992 P r VARIANCE FAVORABLE r BUDGET ACTUAL JUNFAVORABLE)_ REVENUES Takes 600,000 621,860 21,860 .. Interest 15,000 17,199 2,199 ,. TOTAL REVENUES 615,000 639,059 24,059 r EXPENDITURES Current General government 294,607 280,361 14,246 r TOTAL EXPENDITURES 294,607 280,361 14,246 EXCESS (DEFICIENCY) OF REVENUES r OVER (UNDER) EXPENDITURES 320,393 358698 38,305 OTHER FINANCING SOURCES (USES) r Transfer or# (280000) _(280,0301 0 TOTAL OTHER FINANCING SOURCES (USES) (280,000) (280,000) 0 F EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES r OVER EXPENDITURES AND OTHER FINANCING USES 40,393 78,690 38,305 r r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 52 r• Clly of Cape Girardeau. Missuurl DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 REVENUES Taxes Inlcresl TOTAL REVENUES EXPENDITURES Current Community development TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 24,830 25373 543 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 53 VARIANCE FAVORABLE _BUDGET ACTUAL (UNFAVORABLE) 24,720 24,860 140 350 743 393 25,070 25,603 533 240 230 10 240 230 10 24,830 25,373 543 0 0 0 0 0 _ 0 24,830 25373 543 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 53 r Clly 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, 1992 r f REVENUES Charges for services ^' MliLellancatlq Intmest M TOTAL REVENUES r EXPENDITURES Currenl Culhrre and recreation r. Dehl service Inln csl and Ilscnl dn,gcs Y r TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) r Trrnslers In TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES ` AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES __(23,858) (19027) 4,831 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 54 VARIANCE FAVORABLE BUDGET ACTUAL _(UNFAVORABLE) 171,800 178,210 6,410 8,000 12,439 4,439 _4,800 4,053 47 184,600 194,702 10,102 1,108458 1,113,000 (4,542) 0 729 (729) 1,108,458 1,113729 5271 (923,858) (919,027) 4,831 900000 900,000 0 900,000 900,000 0 __(23,858) (19027) 4,831 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 54 r r Cily 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, 1992 REVENUES Taxes r Intergovernmental Interest TOTALREVENUES r EXPENDITURES Current _ Heallh TOTAL EXPENDITURES r EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES r OTHER FINANCING SOURCES (USES) I TOTAL OTHER FINANCING SOURCES r (USES) EXCESS (DEFICIENCY) OF REVENUES V AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 211307 26,949 5 642 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 55 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) 99,610 104,387 4,777 3,500 3,357 (143) 3,025 3,206 181 106,135 110,950 4,815 84,828 84,001 827 84,828 84,001 827 21,307 26,949 5,642 0 0 0 0 0 0 211307 26,949 5 642 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 55 Cily of Cape Girardeau. MMSOIIII MOTOR FUEL TAX SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 REVENUES Inlergovenimmtltil nleresl TOTAL REVENUES EXPENDITURES Ciuienl Tlanspoilallan TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Transfer out TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES _BUDGET _ACTUAL 809,000 833,857 19,500 15,884 828,500 849,741 218,351 _220,673 218,351 220,673 _610,149 629,068 (800.000) (600,000) _(800,000) (600,000 (189851) 29068 VARIANCE FAVORABLE (UNFAVORABLE) r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 56 r 24.857 (3,616) 21,241 (2,322) (2,322) 18,919 200,000 200 000 218,919 Cily at Cape Girardeau, Missolul CAPITAL IMPROVEMENT SALES TAX SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 57 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes 1,184000 1,222,192 38,192 Interest 48,100 56,031 7.931 TOTAL REVENUES 1,232,100 1,278,223 46,123 EXPENDITURES Civient C(vamlmity devek,f)m,0 10,000 7,258 2,742 TOTAL EXPENDITURES 10,000 7,258 2,742 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1 222,100 1,270,965 48,865 OTHER FINANCING SOURCES (USES) Transfer ori (948 938) _ _ (948,938) 0 TOTAL OTHER FINANCING SOURCES (USES) 948,938)9( 48 938) _ 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 273,162 322027 48,865 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 57 CITY of Cape Girardeau, Missourl LIBRARY SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 REVENUES Taxes Intergovernmental Charges for seMres Fines and lotletlures Miscellaneous Interest TOTALREVENUES EXPENDITURES Cirrent CWluic nod r, I cnikm TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER(UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (51,374) (57,636) X262) r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 58 r. VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) 353,000 355,362 2,362 29,500 27,494 (2006) 6,800 7.412 612 10,900 13,224 2,324 7,000 10,002 3,002 15,000 14,456 _(544) 422,200 427,950 5,750 473,574. _485586_ (12012) 473,574 485,586_ (12,01 ) (51,374) (57,636) 6,262) 0 0 0 0 0 0 (51,374) (57,636) X262) r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 58 r. City of Cape Girardeau, Missourl FLOOD PROTECTION SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 r REVENUES VARIANCE Interest FAVORABLE —BUDGET TOTAL REVENUES ,JUNFAVORABLE) EXPENDITURES r Current 250 General government 53 TOTAL EXPENDITURES 0 3,023 _ 3 023 EXCESS (DEFICIENCY) OF RFVFNUFS 3,023 OVER (UNDLH) LXl'LNDNUIlES r 3,076 0 OTHER FINANCING SOURCES (USES) 0 TOTAL OTHER FINANCING SOURCES 0 (USES) r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES r r (2,773) 303 3,076 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 59 VARIANCE FAVORABLE —BUDGET ACTUAL ,JUNFAVORABLE) 250 303 53 250 303 53 3,023 0 3,023 _ 3 023 0 3,023 (2,773) 303 3,076 0 0 0 0 0 0 (2,773) 303 3,076 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 59 r r I HL NOTES IO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 60 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, 1992 ` VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Mlscellanem', 12,540 12,993 453 Inlet esl 500 661 161 TOTAL REVENUES 13,040 13,654 614 EXPENDITURES '� C1im:ul Camounily development 18,250 _ 19,432 1,182 TOTAL EXPENDITURES 18,250 19,432 (1,182 ' EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (5,21 5,778 (568) r OTHER FINANCING SOURCES (USES) 0 0 0 TOTAL OTHER FINANCING SOURCES (USES) 0 0 0 r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES ' OVER EXPENDITURES AND OTHER FINANCING USES (5210)(5,778) S6� r r I HL NOTES IO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT. 60 City of Cape Girarltea U, MISS01111 DEBT SERVICE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 REVENUES � Tmxea btlentovell nnental r Inimesl TOTAL REVENUES r EXPENDITURES Cunenl Principal Inlelest and fiscal charges r TOTAL EXPENDITURES r EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES r OTHER FINANCING SOURCES (USES) Transfers in Special assessments r TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES ` OVER EXPENDITURES AND " OTHER FINANCING USES BUDGET _ACTUAL 248,300 260.210 8,700 8,154 403,432 427,152 660,432 695,516 1,261,195 1,261,195 1.395,224 1,410,174 2,656,419 2,671,369 VARIANCE FAVORABLE UNFAVORABLE 11,910 (546) 23,720 35,084 0 4,950) 4,950 (1995,987) 1,975,853) 20,134 1,754274 1,754,275 1 250,980 350,383 99,403 _2,005,254 2,104,658 99,404 _92W 128,805 ___L191,538 IHL NOTES TU T1 IE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 61 01 N City of Cape Girardeau, Missouri CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET June W. 1992 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PARR OF THIS STATEMENT. General Corp Capitd Flood Street FAU Street CDBG Park Totals (Memorandum Only) Improvements Control Improvements Grants Grants Improvements 6-30-92 6-30-91 ASSETS Cash and Investments 71,793 366,115 1,282848 33,040 0 19,311 2,052,10] 1,825,]19 Cash and investments -designated 0 4,64],628 3,137 0 54,249 0 4,705,014 6,762,497 Grants receivable 0 0 0 0 0 0 0 0 Specid a55essmerls receivable 0 0 265,570 30,506 0 0 296,076 39,533 Interest receivable 0 2,106 2634 0 0 0 4,790 29,743 Other receivables 0 0 0 0 0 0 0 0 Notes receivable 0 0 0 0 15/,195 0 157,195 180,223 Due from other tunes 0 0 0 0 0 0 0 0 71,793 5.017.849 1,534239 360,546 211444 19,311 7.215.182 9.188.820 LIABILITIES AND FUND EQUITY Accounts payalre 15,061 4.674 65,783 0 369 2,410 88,297 1 04. 172 Interest payable 0 0 0 0 0 0 0 0 Otherliabilitles 0 0 0 0 167 0 167 0 Gusto other govemments 0 0 0 14,768 67,500 0 82,268 91,258 Dueto other funds 0 0 0 0 0 0 0 26,665 Estelle, revenue 0 0 263948 30.506 0 0 294.454 413,801 Fund balance Reserved 0 4,307,776 3,460 0 53,249 0 4,364,485 6.821.013 Unreserved 56.732 705.399 1201,048 315,272 90.159 16.901 2.385,511 1.731 ,901 56.732 5,013 175 1204,508 315,272 143,408 16901 6749,996 8. ro2, 914 71,793 5.017.849 1.534239 360.546 211.444 19.311 7,215,182 9,188.820 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PARR OF THIS STATEMENT. THE NOTES TO THE FINANCIALSTATEMENTSARE ANINTEGPAL PARTOF THS STATEMENT. City at Czpe ci,a,ec w. Miswuri CAPIIAL PROJECTS FUNDS COMBINING STATEMENTOF REVENUES AND EXPENDITURESANO FUND BALANCE FOR THE FISCAL YEAR ENDED JUNE 30, 1992 GENERAL FLOOD FAR TOTALS CAPITAL CONTROL STREET STREET COBG PARK (MEMORANDUM IMPROVEMENT PROJECT IMPROVEMENT GRAHTS GRANT$ IMPROVEMENT ONLY) REVENUES Intergovernmental 0 0 0 0 187.025 0 18],026 Interest 4,898 44430] 124474 20723 2.013 3,035 600,253 TOTAL REVENUES 4,898 44431L 124,474 23723 190639 3035 788079 EXPENDITURES Current Capital outlay 98,724 1,166705 920,870 2,591 223,662 230,272 2,642,824 Uebl service Interest and fiscal charges 0 2.109 0 0 760 18 2,887 TOTAL E XPE ND ITU VIES 98]24 1,168.81. 920.870 2,591 224422 233290 2 645 711 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITU RES (93826) (724 504 (796,396) 18.132 (33 784) (227,255) (1,857,632) W OTHER FINANCING SOURCES (USES) Transfers F 50,000 0 0 36,060 250,000 336.060 Transfers out (4,501) (289,9111 (62,126) 0 0 (17,500) (374338) Specal assessmmis 0 0 07,999 4.993 0 0 92,992 TOTAL OTHER FINANCING SOURCES (USES) 45,199 (289.9^ 25873 4, 993 36,060 232.500 54,714 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (48,627) (1,01141 (770523) 23.125 2.277 5,245 (1802.918) FUND BALANCE AT BEGINNING OF YEAR (note P) 105359 60275: 1975031 292.147 141.131 11.656 8,552914 FUND BALANCE ATEND OF YEAR 56732 5.01317' 1,204.508 315.272 143408 16901 6.749996 THE NOTES TO THE FINANCIALSTATEMENTSARE ANINTEGPAL PARTOF THS STATEMENT. r City of Cape Girardeau, Missoud GENERAL CAPITAL IMPROVEMENT FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 REVENUES hl,c,esl TOTAL REVENUES EXPENDITURES Cuuent Capital uutlay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Transfers In Tianstel OLI TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (41 609) t48,_627j 018 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 64 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) 5,550 4,898 (652) 5,550 4,898 652 _...92,358 98,724 (6,366 92,358 98,724 (6,366) (86,808) 93,826 (,018) 50,000 50,000 0 ,(0WIl _____(4 801 0 45,199 45,199 0 (41 609) t48,_627j 018 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 64 City of Cape Girardeau. Missouri CORP FLOOD CONTROL CAPITAL PROJECT FUND STATEMENT OF REVENUES AND EXPENDITURES — r BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30. 1992 r r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. r 65 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) r REVENUES Interest 368,500 444,310 75,810 TOTAL REVENUES 368,500 444,310 75,810 EXPENDITURES Cunenl caphl outlay 2,051,000 1,166,705 884,295 Debt servla: Inlerestand fiscal charges 2,110 2,109 1 TOTAL EXPENDITURES 2,053,110 1,168,814 884,296 4 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,684,610) (724,504) 960,106 OTHER FINANCING SOURCES (USES) v TIamN, mr! (289,911) (289911) 0 TOTAL OTHER FINANCING SOURCES (USES) (289911) (289,911) 0 EXCESS (DEFICIENCY) OF REVENUES v AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (l 974,521) (1014415) 960,106 r r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. r 65 Clly of Ca Pc Girardeau, Missouri STREET IMPROVEMENTS FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGEF (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 REVENUES Inlerest TOTAL REVENUES EXPENDITURES Cuuonl Cal) lal0LlIhY TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Tiaosleis in TmnMer old SOeclal assessnenis TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES BUDGET ACTUAL 122,000 124,474 122,000 124,474 653,045 920,870 653,045 920,870 VARIANCE FAVORABLE UNFAVORABLE 2,474 2,474 267,825) 267,825 (531,045) 96,396 265,351 200,000 0 (200,000) (62,126) (62,126) 0 80,000 87999 7,999 217,874 25,8'7319( 2,001) (313,171) (770,523)457352 THE NOTES 10 THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 66 r City of Cape Glundeau, Missouri FAD STREET GRANTS FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 r REVENUES Inteicst r TOTAL REVENUES EXPENDITURES Current r Capbl oulley TOTAL EXPENDITURES r EXCESS (DEFICIENCY) OF REVENUES r OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Speclal asscssmcnls r TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES r BUDGET ACTUAL 20750 20,723 20,750 20,723 5,000 2,591 5,000 2,591 15,750 18,132 5,100 _ 4_993 5,100 4,993 20.850 23,125 VARIANCE FAVORABLE UNFAVORABLE THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 67 — - _ (27) 27 2.409 2,409 2,382 (107) 07 2,275 City of Cape Girardeau, Missouri COMMUNITY DEVELOPMENT BLOCK GRANT FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 r REVENUES Inleigovennrienlal Inlmest TOTAL REVENUES x EXPENDITURES r co renl cal'Ilnl outlay v Debt service Interest and fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES s r OTHER FINANCING SOURCES (USES) l m alms In TOTAL OTHER FINANCING SOURCES r (USES) r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES r r 126 2 5 2,277 123 948 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 68 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) 365,000 187,826 (177,174) 2,975 2,813 162 367,975 190,639 (177,336) 272,250 223662 48,588 ---.-500 760 (260) 272,750 224,422 48,328 95,225 33,783 129,008 _ 31,000 36,060 5,060 31,000 36,060 5,060 126 2 5 2,277 123 948 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 68 r r City of Cape Girardeau, Missouri r PARK IMPROVEMENTS FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1992 r r r REVENUES Miscellaneous Interest r TOTAL REVENUES r EXPENDITURES r Cllnelll Capital oullay v Debt service Interest arxl fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES r OTHER FINANCING SOURCES (USES) Tcrosfcrs In Translms out r TOTAL OTHER FINANCING SOURCES (USES) p r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 44 124 5 245 X889) THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT, 69 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) 38,000 0 (38,000) 3,200 3,035 165 41,200 3,035 38,165 259,556 230,272 29,284 20 18 2 259,576 230,290 29,286 (218376) (227,255) (8879) 250,000 250,000 (17,500) 17,500 _ 0 232,500 232,500 0 44 124 5 245 X889) THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRALPART OF THIS STATEMENT, 69 City of Cepa Girardeau, Missouri ENTERPRISE FUNDS COMBINING BALANCE SHEET ' June 30, 1992 Solid GOB Totals (Memorandum Only) r Sower Writer_ Wrote Course Airport 6_30-92. 6-30-91 ASSETS Cash and investments 0 0 65,607 9,181 0 74,788 40,870 Cash and investments- designated 737,459 0 255 0 39 73],753 500,837 Utility Urarges receivable (net of r albwame for oneWful mei ivoblos) 264,505 410,990 284,031 0 0 959526 43$437 Grants receNetle 0 0 0 0 37,261 37,261 180143 Special assessments re.,avaNe 41,866 0 0 0 0 41,866 97,483 Interest r.ceivatle 6,955 34,759 2,591 0 1.621 45,926 21,545 jy Cner receivables 34,855 0 401 451' 12,100 47813 20,418 Inventories 0 26,092 0 4,211 0 30303 5078 Restricted as sets 3,565,005 2,734024 121.475 0 728,895 7,149,489 2,654,212 Prepaid expenses 158, W2 180,828 21,231 1,473 29,702 391236 139790 i' 4,808,737 3,386,683 495,591 15.322 800,618 9,515,961 4092,813 Property, plant and equipment Lend 135,869 0 55,921 0 35,649 546.439 540320 Buildings 8,156,627 195,594 548,746 1,500 853,919 9,]56,346 9,566600 mprovoments other tuardngs 13,789.565 8,524,711 10,796 325,989 3.956,510 26,607631 16,120,115 Equ ,emol 5Flu 51B 202439 1,544,008 242,957 77,598 2,65f,b4U 2,664 M7 Constnrdon in progress 479512 0 120,243 0 158,566 788321 1.314 202 23,148,091 8,922,804 2,279,734 570,446 5401,242 40,322,317 30225332 Less accumulated depreciation 6848,171 21,874 1,053,250 240,475 2,744,004 10,908574 9925,&36 y 16,299,920 8,900,930 1,226,484 32,971 2,656,438 29,413,743 20299 496 ` 21,10865] 12287,623 y722,275 345293 3,466,006 3892.9.7.04 24392309 LIABIUTIES AND FUND EQUITY Accounts payable 92,112 502,911 23,670 10,240 23,039 651,980 473,170 Accrued liabilities r. Searles, payroll taxes and ben efits 45,564 1,214 42,859 12,334 7,722 109,693 95,043 Interest p,able 128,365 159,094 19,744 4,110 22,986 334,299 174,318 Otherliebines, 15,725 2,172 255 1,371 39 19562 23,657 Duo to other funds 6,655 81,114 0 0 49,090 131,859 551,303 Duo to other governments 12,328 0 0 0 0 12.326 0 ` Advance from other funds 375000 0 1,000,000 3250W 0 1,700,000 1085,004 Current portion of long-term debt 313,089 0 102574 119,965 45,00) 580628 531,497 Long-term debt net of current portion Rn,cra. bonds Fai 3.670 ,000 11,]21,908 0 0 0 15,3`41,908 1,215.(w y Leese rchasoobll,alon p,able 0 0 0 0 0 0 143,140 Leos. ryromso bonds p,able 3,311,223 0 768,821 0 900,400 $049.444 5,450,981 Deterred revenue 0 D 0 0 578 578 578 Fund eyity Containted capital 4,094,212 0 D 0 540,055 4,634267 3,793,469 . Retained earnings Reserved 15,000 0 0 0 0 15,000 10,000 y Unreserved 9,029,304 (180,790) 135856) (127,727) 1813147 10,298,158 10.838,649 13,138.596 18Q79Oj (235,856) (127,727) 2,353202 14,947.425 14642.118 21108657 12287623 1,722,075 345293 3466,056 38.929]04 24,392309 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. ti City ul Cape Girardeau. Missouri EN1 HIIH1SE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS FON THE FISCAL YEAR ENDED JUNE 30, 1992 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF TIES STATEM ENT. I. 71 TOTALS (MEMORANDUM 5EVIEH LVASER S-OLIDSYASTE Se9LF.QOi1N§E AIRPORT 61 OPERATING REVENUES Federal grants 0 0 0 0 156.784 156,784 Residential charges 983.028 165,06] 1049285 0 0 2,197,360 Commercial cM1arges 784,412 94.272 495,116 0 0 1]]4,000 Transfer dation charges 0 0 235,]]6 0 0 235,]]6 Equinment sales 0 0 0 12,197 0 12,191 Concession revenues 0 0 0 59,739 0 59,]39 Goll course lees 0 0 0 99,812 0 279.012 Other lees and charges 40,373 3, OB5 0 0 9,331 52.789 Hotel revenue 0 0 0 0 77,584 ]],504 Onrulions 0 0 0 0 14,260 14 ,210 Outer miscelhnooua 7,384 235 1,6]4 11.866 26,018 4/,971 Interest income 16],0]6 53,741 14204 48 40,225 2]5,3]4 1,9022]3 316,400 1,]9],135 363,662 325,002 4,]84,4]2 OPERATING EXPENSES Pasonnul suvicec 591,060 6,413 690,174 154288 220,03] 1.6)0.712 Materials and supplies 51]69 15,605 23,354 35,538 8,683 134.549 ya Contractual services 251.150 297,134 449,3]6 22,322 80,702 Elyd284 General operating expenses 46,508 22.782, 44.539 52,134' 8,884 176,841 Spacialpmjacls-France 48,4]2- 0 0 0 47,314 95,]86 r Internal swice expenses 31,801 3,73] 228,29] 49,532 10.820 324,187 Deprecal'ron expense 584, 833 21,875' 227946' 32,551. 1]2,]54 1.039959 1, 60],1W 368,146 161169E 346,365 549,994 4.543684 yr OPERATING INCOME (LOSS) 3]5,080 (51 ]46) 125,449 1],29] (224,992) 241088 NON-OPERATING EXPENSES Issuance -It ammliaoni 14,917 0 3.602 0 2,872 21,391 nlereslandtandling m sls 470,965 129,044 106,607 22,213 73068 8_02,_69_7 r 485.882 129,044 _110,209 22,213 ]6,]40 024,080 r ` INCOME (1.055) BEFORE OTHER FINANCING SOURCES (USES) (110,802) (180.790) 15,240 (4916) (301,732) (583,000) OTHER FINANCING SOURCES (USES) Translersin 0 0 0 0 50,000 50,000 r Salosonmed assets (2,548) 0 57 0 0 (2.491) (2,548) 0 57 0 50,000 47,09 NET INCOME (LOSS) (113,350) (180,790) 15.297 (4916 (251]32) (535491) RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 9,15],]34 0 (251,153) (122,811) 2,064.879 10,048,649 RETAINED EARNINGS (DEFICIT) AT END 01 YEAH 9,044004 20790 (235 J56) (12]]2]) 1,81_147 10313.150 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF TIES STATEM ENT. I. 71 City of Cape Girardeau, Missend INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET June 30, 1992 r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. r 72 r Data Fleet Employee Totals (Memorandum Only) Processing Management Insurance 6-30-92 6-30-91 ASSETS Cash and Investments 68,298 182,167 749,803 1,000,268 621,201 Cash and investments -designated 0 39 0 39 37 Interest recelvable 0 0 4,160 4,160 1,610 Other receivables 0 10,966 0 10,966 10,828 Inventories 0 19,351 0 19,351 11,029 Prepaid expenses 38,464 5,613 0 44,077 133,824 Advances to other funds 0 0 0 0 246,504 106,762 218,136 753,963 1,078,861 1,025033 Property, plant and equipment Land 0 37,500 0 37,500 37,500 Buildings 0 363,214 0 363,214 363,214 Improvements other buildings 0 23,714 0 23,714 20,814 Equipment 717,441 134,725 0 852,166 871,437 717,441 559,153 0 1,276,594 1,292,965 r Less accumulated depreciation 198,094 213,687 0 411,781 481,923 519,347 345,466 0 864,813 811,042 r 626,109 563602 753,963 1943674 ,.1,836,075 LIABILITIES AND FUND EQUITY Accounts payable 9,149 48,805 112,940 170,894 311,758 Accrued liablllllos Salaries, payroll taxes and benefits 5,741 31,566 0 37,307 32,294 Other Ilabllilles 0 39 0 39 0 Due to other funds 0 0 0 0 0 Retained earnings Unreserved 611,219 483,192 641,023 1,735,434 1,492,023 y' _626109 _563,602 753963 1,943674 1,836,075 r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. r 72 r City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS FOR THE FISCAL YEAR ENDED JUNE 30, 1992 OPERATING REVENUES Interdepartmental services other miscellaneous Interest income OPERATING EXPENSES Personnel services Materials and supplies Contractual services General operating expenses bnci nal ::m Nce oxponacs Depreclallon expense OPERATING INCOME (LOSS) NON-OPERATING EXPENSES Interest and handling costs INCOME (LOSS) BEFORE OTHER FINANCING SOURCES (USES) OTHER FINANCING SOURCES (USES) DATA FLEET PROCESSING MANAGEMENT Sales M fixed assets 504 220,981 949,846 17 783 1,102 9,787 222,100 960416 47.412 329,681 3,282 360,643 88,398 248,247 355 802 0 3,182 82,059 25657 221,506 968,212 594 (7,796) 396 0 198 (7,796) Transfers In 181, Transfers out (181,282) Sales M fixed assets 504 Compensation for damages 7,620 Loss on asset disposal (48 434 132, NET INCOME (LOSS) 132, RETAINED EARNINGS AT BEGINNING 1,927,502 OF YEAR 478, 282 0 0 (181,282) 0 504 0 7,620 84� 0 434 (173,158) 632 (180,954) 587 664,146 RETAINED EARNINGS AT END OF YEAR 611,219 483,192 291,733 284,135 0 181,282 0 (181,282) 0 504 0 7,620 0 _._(48,848) 0 (40,724) 291,733 243,411 349,290 _1,492,023 641,023 _ 1,735,434 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 73 TOTALS (MEMORANDUM ONLY) EMPLOYEE INSURANCE 1991-1992 713,541 1,884,368 0 800 31445 42,334 744,986 1,927,502 0 377,093 0 363,925 453,107 789,752 146 1,303 0 3,182 0 107,716 453,253 1,642,971 291,733 284,531 0 396 291,733 284,135 0 181,282 0 (181,282) 0 504 0 7,620 0 _._(48,848) 0 (40,724) 291,733 243,411 349,290 _1,492,023 641,023 _ 1,735,434 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 73 r City of Cape Girardeau, Missouri AGENCVFUND BALANCE SHEET June 30, 1992 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. r 74 Arena Deferred Totals (Memorandum Only)_ Improvement Compensation 6-30-92 6-30-91 ASSETS Cash and investments 31,134 502,937 _534,071 408,870 Total assets 31134 502937 534,071 408,870 LIABILITIES Accounts payable 1,055 0 1,055 1,233 Other L iabiffies 30,079 0 30,079 19,484 Deferred compensation due employees 0 502,937 502,937 388,153 Total liabilities 31,134 502,937 534,071 408,870 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. r 74 SINGLE AUDIT SECTION 0 r 75 INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri r We have audited the general purpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1992, r and have issued our report thereon dated December 3, 1992. These general purpose financial statements are the responsibility of the 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 aur audit in accordance with generally accepted �. auditing standards and Government Auditing Standards, issued by the Comptroller Generalof the United States, and the provisions of r Office of Management and Budget Circular A-1.28, "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 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 all material respects in relation to the general purpose financial statements taken as a whole. Cape Girardeau, Missouri December 1. 1992 76 r r r r r I r r r r i- r r r r City of Cape Girardeau, Missouri SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE June 30, 1992 Federal Program CFDA or Award Balance Disbursements/ Balance Federal Grantor/Pais-Through Grantor/Title Number Amount June 30 1992 Receipts Expenditures June 30, 1992 Major Programs: Department of Defense U.S. Army Corps of Engineers Flood Control Project 12.106 S - S(2.684.866) S - 51.168.814 S(3.853, 680) Total U.S. Department of Defense (2,684,866) - 1,168,814 (3,853,680) Non -Major Programs: Department of Housing and Urban Development Passed through Missouri Department of Econ,.mto nevelnrnvnt Community Development Stock Grant 91 -ND -OL 14.219 340,000 - 187,826 272,605 (84,779) Passed through Missouri Department of Social Services Emergency Shelter Grant 14.231 5,800 5,_800 X800 Total U.S. Department of Housing and Urban Development - 193,626 278,405 (&.,779) J Department of Transportation J Federal Aviation Administration Air Traffic Services (FY -91) - 75,884 - 37,942 37,942 - Air Traffic Services (FY -92) - 158,456 - 118,842 118,842 - Airport Improvement Program 3-29-0013-04 20.106 428,000 (103,215) 169,010 122,970 (57,175) Airport Improvement Program 3-29-0013-05 20.106 428,499 - 24,056 82,467 (58,411) Passed through Missouri Department of Public Safety Cape Girardeau County Community Traffic Safety Program (FY191) 20.600 107,812 (9,941) 33,845 35,428 (11,524) Cape Girardeau Comprehensive Community TrAffir Safety (FY'92) 20.600 94,059 - 55,220 69,223 (14,003) Passed Through the Missouri Highway and Transportation Department Public Taxi Coupon Transportation Program M0-18-%010-4CG 20.509 49,875 (1,258) 49,875 201,765 (153,148) MO-18-%011-4CG 20.509 70,845 - - 1,666 (1,666) Transit Study 20.507 20,000 - ,191 1.488 (297) Total U.S. Department of Transportation (114,414) 489,981 671,791 (296,224) Department of Justice Drug Free Schools 84.186 12,000 - 12,000 18,172 (6,172) Project EDICT 89-NCD2-0240 (FY'91) 16.579 - (5,754) 5,756 5,756 (5,754) Project EDICT 89-NCD2-0240 (FY -92) 16.579 - 18`16] 23_16] (5,000) Total U.S. Department of Justice (5,]54) 35,923 47,095 (16,926) City of Cape Girardeau, Missouri SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE June 30, 1992 Federal Program [FDA or Award Balance Federal Grantor/Pass-Throuoh Grantor/Title Number Amount Jure 30 1991 Department of the Interior Geological Survey Joint Funding Grants Stornwater and Larw flll (FY'92) - $ - E Total U.S. Department of Interior U. S. Department of Education Library Services and Construction Act 84.034 8,000 - Total U.S. Department of Education - TOTAL FEDERAL FINANCIAL ASSISTANCE (2,805,034) F r- r' r r- r r Disbursements Balance RR eco Ex ,ndi tures June 30 1991 E E 25.500 S (25.500) 25,500 (25,500) 8,_000 8.690 (590) 8,000 8,690 (690) 727,530 2,200,295 (4,277,799) r r r INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS BASED ON AN AUDIT OF r 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 r 30, 1992, and have issued our report thereon dated December 3, 1992. 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 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 r 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, r in all material respects, with those provisions. This report is intended for the information of management. This r restriction is not intended to limit the distribution of this report, which is a,J mattter of public record. Cape Girardeau, Missouri. /_ ✓ December 3, 1992 r 79 +� INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO F MAJOR AND NON MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS Honorable Mayor and Members ` of the City Council City of Cape Girardeau, Missouri �. We have audited the general purpose financial statements for the City of Cape Girardeau, Missouri as of and for the year ended June ' 30, 1992, and have issued our report thereon dated December 3, _ 1992. We have applied procedures to test the City of Cape Girardeau, Missouri Is 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, 1992: political activity, civil rights, 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, r 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 dial not disclose any immaterial .. instances of noncompliance with those requirements. t 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 December 3, 1992 80 INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri — We have audited the genera]purpose financial statements of the City of Cape Girardeau, Missouri. as of and for the year ended June 30, 1992, and have issued our report thereon dated December 3, 1992. r We have also audited the City of Cape Girardeau, Missouri's compliance with the requirements governing types of services allowed or unallowed; 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, 1992. 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 thef — Comptroller General othe United States, and 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 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 materialrespects, with the requirements governing types of services allowed or unallowed; matching, level of effort, or earmarking; reporting; claims for advances and reimbursements; and Ll" INDEPENDENT AUDITORS' REPORT ON COMPLIANCE. WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED r amounts claimed or used for matching that are applicable to each of its major federal financial assistance programs for the year ended June 30, 1992. This report is intended for the information of management. This r restriction is not intended to limit the distribution of this report, which is a matter of public record. Cape Girardeau, Missouri December 3, 1992 m INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS 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, 1992, and have issued our report thereon dated December 3, 1992. In connection with our audit of the 1992 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, "Audit of State and Local Governments", we selected certain transactions applicable to certain nonmaj or federal financial assistance programs for the year ended June 30, 1992. As required by GMB Circular A-128, we have performed auditing procedures to test compliance with the requirements governing types of services allowed or unallowed; matching, level of effort, or earmarking; reporting; and special tests 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. Cape �ir rdeau, Mi souri� r December 3, 1992 83 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A .. FINANCIAL STATEMENT AUDIT CONDUCTED 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, 1992, and have issued our report thereon dated December 3, 1992. 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, 1992, 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 84 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED r 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. r For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories. Genera]. Petty cash r Bank accounts Cash receipts Cash disbursements Investments Revenues and receivables Property and equipment Purchasing, receiving and accounts payable Payroll Budget Electronic data processing r For all of the control categories listed above, we obtained an understanding of the design of relevant policies and procedures and r 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 r 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 r 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. 85 r INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A r FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED However, we noted certain matters involving the internal control structure and its operation that we have reported to the management of the City of Cape Girardeau, Missouri in a separate letter dated r December 3. 1992. This report is intended for the information of management. This restriction is not intended to limit the distribution of this rre�eport, which is a matter of public record. Cape Girardeau, Missouri /. December 3, 1992 86 INDEPENDENT AUDITORS' REPORT ON THE INTERNAL r CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS ` 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 r 30, 1992, and have issued our report thereon dated December 3, 1992. 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 ` December 3, 1992. We conducted our audits in accordance with generally accepted r 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. r In planning and performing our audits for the year ended June 30, 1992, 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. r We have addressed policies and procedures relevant to our audit of the generalpurpose financial statements in a separate report dated December 3, 1992. r 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 ` judgements 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 r 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 FE ` INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED r r permit the preparation of general purpose financial statements in accordance with generally 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 t and procedures may deteriorate. r 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: Genera]. Requirements Political activity Civil rights Relocation assistance and real property acquisition ` Federal financial reports Allowable costs/cost principles Drug-free workplace Administrative requirements r Specific Requirements Types of services r Matching, level of effort, and earmarking Reporting Special tests r 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, 1992, the City of Cape Girardeau, Missouri, expended 53% 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 MM INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING ' FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED r r 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. We did not note any matters involving the internal control structure and its operation that we consider to be reportable ` conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the City of ' Cape Girardeau, Missouri's ability to administer federal financial assistance programs in accordance with applicable laws and regulations. A material weakness is a reportable condition in which the design ` or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We did not note any ,. material weaknesses. 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. We also noted other matters involving the internal control structure and its operation that we have reported to the management of the City of Cape Girardeau, Missouri in a separate letter dated December 3, 1992. 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 Gi91 rardeau, Missouri December 3, 1992 Bim