The URL can be used to link to this page

Home My WebLink About1992-1993.AuditReportFINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT CITY OF CAPE GIRARDEAU, MISSOURI June 30, 1993 CONTENTS FINANCIAL SECTION Page Independent Auditors' Report 6 GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types And Account Groups 9 Combined Statement of Revenues, Expenditures And Changes In Fund Balance - All Governmental Fund Types 11 Combined Statement Of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis) And Actual - General And Special Revenue Fund Types 12 Combined Statement Of Revenues, Expenditures And Changes In Fund Balance - Budget (GAAP Basis) And Actual - Debt Service And Capital Projects Fund Types 13 Combined Statement Of Revenues, Expenses And Changes In Retained Earnings - Ail Proprietary Fund Types 14 Combined Statement Of Cash Flows - All Proprietary Fund Types 15 Notes To Financial Statements 16 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS GENERAL FUND Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 53 SPECIAL REVENUE FUNDS Combining Balance Sheet 54 Combining Statement Of Revenues, Expenditures And Changes In Fund Balance 55 CONTENTS - CONTINUED SPECIAL REVENUE FUNDS - Continued Page Convention/Tourism Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 56 Downtown Business District Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 57 Parks And Recreation Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 58 Health Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 59 Motor Fuel Tax Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 60 Capital Improvements Sales Tax Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 61 Library Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 62 " Flood Protection Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 63 Vision 2000 Special Revenue Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 64 DEBT SERVICE FUND Debt Service Fund - Statement Of Revenues And _ Expenditures - Budget (GAAP Basis) And Actual 65 CONTENTS - CONTINUED CAPITAL PROJECTS FUNDS Page Combining Balance Sheet 66 Combining Statement Of Revenues, Expenditures And Changes in Fund Balance 67 General Capital Improvement Fund - Statement Of ' Revenues And Expenditures - Budget (GAAP Basis) And Actual 68 Corp Flood Control Capital Project Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 69 Street Improvements Fund - Statement of Revenues And Expenditures - Budget (Gasp Basis) And Actual 70 FAU Street Grants Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 71 Community Development Block Grant Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 72 Park Improvements Fund - Statement Of Revenues And Expenditures - Budget (GAAP Basis) And Actual 73 ENTERPRISE FUNDS Combining Balance Sheet 74 Combining Statement Of Revenues, Expenses And Changes In Retained Earnings 75 INTERNAL SERVICE FUNDS Combining Balance Sheet 76 Combining Statement Of Revenues, Expenses And Changes In Retained Earnings 77 CONTENTS - CONTINUED AGENCYFUNDS Page Combining balance Sheet 78 SINGLE AUDIT SECTION Independent Auditors' Report On Schedule Of Federal Financial Assistance 80 Schedule Of Federal Financial Assistance 81 Independent Auditors' Report On Compliance With Laws And Regulations Based On An Audit Of Financial Statements Performed in Accordance With Government Auditing Standards 83 Independent Auditors' Report On Compliance With The General Requirements Applicable To Major And Nonmajor Federal Financial Assistance Programs 84 _ Independent Auditors' Report On Compliance With The _ Specific Requirements Applicable To Major Federal Financial Assistance Program 85 _ Independent Auditors' Report On Compliance With Specific Requirements Applicable To Nonmajor Federal Financial Assistance Programs Transactions 87 Independent Auditors' Report On Internal Control Structure Related Matters Noted In A Financial + Statement Audit Conducted In Accordance With Government Auditing Standards 88 Independent Auditors' Report On The Internal Control Structure Used In Administering Federal Financial Assistance Programs 92 Earley, Janssen, Begley & Company CERTIFIED PUBLIC ACCOUNTANTS r 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2845 FAX (314 334 =4338 PARTNERS JOHN R. JANSSEN, CPA KELVIN W. BMK, CPA TERRY R. BEGLEY. CPA LAWRENCE E. YOUNG, CPA JENNIFER WESTRICH 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 of the City of Cape Girardeau, Missouri as of June 30, 1993, and for the year then ended as listed in the table of contents. 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 our audit in accordance with generally accepted auditing standards. Those standards 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose 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 in the first paragraph present fairly, in all material respects, the financial position of the City of Cape Girardeau, Missouri as of June 30, 1993, 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. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining and individual fund and account group financial statements listed in the table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Cape Girardeau, Missouri. Such information has been subjected to the auditing procedures applied in the audit of the general purpose 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 October 29, 1993 7 GENERAL PURPOSE FINANCIAL STATEMENTS 1 1 1 ► 1 1 1 ► ► 1 ► 1 1 1 I 1 I ► ► CRY at Cape GDaldea{ Mlemutl COMBINED BALANCE STREET ALL FUND TYPES AND ACCOUNT GROUPS .Allo 30, 1993 FWutlfiry Goremmenlal FunE TI— Pmp,let,q FUM Types Furtl Type A—Ho.mupa GeaelaI General Special 0eb1 CeEilal Interna FI.W IImU-Term Talars LemalaMlm Only General Neyerue Sromr, ProiHES Entrmrlb¢ S.Hiir,a, mon Ase15 Debt 6-30-93 6-30-92 ASSETS AND OTTER DEBITS Assts: Dm,"no,rVo Il5 491.747 2,)210]1 409,461 1,]0821] 909,OGa 1,168062 ]%,661 - - 6, 154 747 6628064 Cash aN I—blears-Eesg Ho. 530443 9],]04 8,])115] 5561134 699.825 - 4 - - 16.265 W7 11,110,918 Remlva6le¢, nel al an....ms for Eowlwl Temlea6lea Reg estate, pasnal pacroaq "m6ld'aTe, I.CS 57,363 35,461 2616] - - - - - - 115007 101]. SARS trr 452,595 111694 - - - - - - - 565469 534062 Ra'IR166 t.. 1,104.624 - - - - - - - - 1,104.24 ISKrS 312 FbRd-RO al US, Im¢NeSIfi - 26,351 - - - - - - - 28,]51 23023 RB5W61R 1R leSeiVFbl¢ - 3]080 - - - - - - - ]7.066 3l I., ND DUE, Me'e,i IPC9Vgl10 - - - - 1,129,812 - - - - 1,120812 859,526 Spetlel la,—..."mceNaple 25,606 - p59 243,321 46.284 - - _ - 76]8]2 8041]7 celvaple IDbel 391 I0J6216,0)7 458e0 - - - 65, HO 72,230 FaCreVebl64 188,802 547 - - 27.1W 9),6114 325250 73,14 W16 RC9Vab¢ - - - 20,163 - - - - - 20,16] 157.185 I ag,o4elnm anal l eedmla5 Abby Fd UG SS 418 - - - - - - - 56419 558ID Mom, reticle li0ase fele, _ - _ _ _ - - _ 13nfifi T1,2N Abrar Veh lager, t. - 15934 - - - - - - -I 5934 12 T2 GTA5,¢C,Sgoil 26680 - - 11.34. 65863 - '- - - 105921 58,677 Our, lip m.1.1lurtls 136.948 - - - - 224503 - - - 362A52 1]1858 Mvanu51O on., 11E, 1,79]500 - - - - - - - - LiW500 1775000 a MS - - - 612 H,350 - - - 181,36] 48fiA R0to.eoa55de - - - - 628.]6] - - - - 4,fi283a3 ),148469 Peered erpa65 42,175 7.]95 - - ]45216 121,406 - - - 514592 609,904 F4¢G 855¢6, nN Ol e...IAW - _ - p dW,e.gion - - - - ]1,900,5]] )]2,509 - 6,377465 - or 5.551 36,36],]55 B O ler rro-Hr Amtlf16Vd1701¢fl Debt $<rVIR - - - - - - - - 8.)80,1]5 9,)80,V5 5,80107 all Amo ,o lee pro... b lelbemem olgen1e ra E,1 - - - _ _ _ _ _ 15820,96 15.620,5)6 15280612 Amount Ee I loperm proven b,lulure toe payment olmmpalsged atamces 456ov so,pu 596315 TOtal a55e6 46]6232 3,131654 1627],)12 7,5eg420 4040, IL-7 2921)64 63))465 25636] 26 101,407005 560,.3 THE NOTES TO THE FINANOIAI S1FlEMEEI. ARE PN I.TEGRAL PAR) Or THIS .1.1EME NT. I 1 1 1 1 I 1 1 1 1 1 1 1 1 1 1 1 i 1 CRY of Cape Girardeau, MleWull THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATE ME NT. COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS .lune W, 1993 Ew.d., Goremma nlal Fu.J Tynes Pmprielary F,W ty, FUN Type A—n, Gmm[ Genual Genual Special Dalt Cdfilal NNNRel Fiaed Lorg-Term Tolals(Memot endum Only) General flcyelue S.Me. � E� S. �% Ae em Daft 6-30-93 6-30-92 LIABILITIES, EQUITY AND OTHER CREDITS Llabilitles: Af o; peyable 160469 II"... - 126946 613293 NMP.2 221 - - 1415510 1,15)IS. A—,,. liabililiei .Alain[, 0.".-t MA benelns I23, 1.3 3t 66J - - 115,1]1 24002 692.606 - 450,013 1,5]6 ,13. 1,33].01 Ilue 1payeCle - 0,405 - 412 ]95 - - - - 421,1100 ]]4 ,29. Olt. lublifte5 37,040 192 - - .I 211 40 410]0 - - NN.IA .85.2 Due. SIF,, WydrvuynIA 14,234 - - I,WO 12.690 - - - - IN,.32 4Ofi1 Due 0OVRI I✓a - 18 W4 - 1.,200 100,045 225503 - - - 362,452 ISH I. Adver6e Rom Dmor LIYIS - 75,000 - - 1722500 - - - - 1,]9)500 1,]/S W9 G1119]I Do.. Ol"-Fern daft - - - - 520406 - - - 1]59,514 1800000 1.60965 Log-Itlm tlmi nd.11vRFNL 3,SR r fl¢YEIO¢ bprlsp.YaIIQ 15,]24521 15]24521 15,391,®0 0 Onnepu Nreaeobiyalbnpayeble - - - - - - - - - 0 - basepm<6aaebonJ[peyWle1],044,100 1)661,232 15,466,156 Gena&Wlgafn]bmdspry3ble - - - - - - - - 3P15.0oa 3,n5090 3eO56o6 dpyeblunIa1Nyg 2v6099 bond, payAl¢ - - - _ _ _ _ _ )n9po0 3,530000 DaGIQd 1Q1EnR5 522,2]9_ 500.1]2 IN 1 578 1,367 757 _1,232]44 Total lla191116 9]5 348 i35 509,537 30).56 2],.Sa.1 4]0,93] ]34665 - 25033,71. 53p61,EM. 46p06, 5]I Equiry eM albar n9e—ll luau asses - - 6,3]],465 - 6,3)]465 fiJ 00.09 ConlrbuleG cep 0111 - - - _ 53002]5 - - - - S'.Sf bS 4834 t6] Rdetrled ¢amygs. Reeervel - _ _ _ 1. FAI_ - - - 16667 Un6evNcl - - - - 10,490433 193.92] - - - 12,VS,YS 120]],!52 F" Bda]ce: Re6¢Nel 1,819... 23,945 0,)80,1)5 5444III - - - - - I,.NN520 12]22,.] UnB¢,ApJ 1,990,0]4 2]56.2]4 1]1304] 6,494_695 ,.ou ry .ft,a No b N., ueEile 2910, 2]05,210 9]. ,1]5 6 ],192564 HI3.14]0 B4 g2] 6AI4.5 4.,3250t] Il 1.17S, W2 Total llaf111116, equity mldotHer c19116 4..111232 3,131854 10,277,712 7,500420 40, IFA, l 2423764 134665 II S77 4.5 25030,)26 101,40)005 0],960,.3 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATE ME NT. THE NOTES TO THE FINANCIAL STATEMENTS AHE AN INTEGRAL PART OF THIS STATEMENT. 11 City of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL GOVERNM ENTAL FUN D TYPES FOR THE FISCAL YEAR ENDED JUNE 30. 1993 GOVERNMENTAL FUND TYPES TOTALS SPECIAL DEBT CAPITAL (MEMORANDUM GENERAL REVENUE SERVICE PROJECTS ONLY) REVENUES Taxes 8,365,336 2,613,377 259,082 0 11,237795 as licenses and permits 692,933 0 0 0 692,933 Intergovernmental 225.279 979,742 8.655 216]45 1,430.421 Charges for services 275.419 23 1. 138 0 0 506,557 licardeper[mamed services 321,811 0 0 0 321,811 Fines and brfeitures 568,864 15,558 0 0 584.422 Miscellaneous 75.741 46.481 0 30 122.252 Interest 89]05 90953 385.006 210742 784,406 TOTAL REVENUES 10.615,088 3.977249 652.743 435.517 15 680,597 EXPENDITURES Current General government 867893 297,399 0 0 1,165,292 Transportation 1,394702 72,311 0 0 1,467,013 Public safety 5,718,340 0 0 0 5,718,340 Hosith 0 106,997 0 0 106,997 Cemetery 94.351 0 0 0 94,351 as Culture and recreation 580,267 1,032,306 0 0 1,612,573 Community development 680,742 48,315 0 0 729,057 Interdepartmental 610,045 0 0 0 510,045 Conlengenry 20,569 0 0 0 20,569 Capital outlay O 0 0 3,517,671 3,5q 671 Dein service Principal 0 0 1,209.337 0 1,269.337 Interest and fiscal charges 4,155 817 1.442264 140,367 1,587603 TOTAL EXPENDITURES 9,971064 1.558.145 2731601 3.658.038 17 9H 848 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 644,024 2.419.1(A (2.078.858) (3,222,521) (2.238251) OTHER FINANCING SOURCES (USES) Transfers in 631,313 200,000 1,706.676 294,584 2,032,573 Transfer out (815,013) (2,122,284) 0 (41,419) (2978,716) Proceeds from fixed assets 7,240 0 0 0 7,240 Special assessments 1.250 0 168,419 50,172 229.851 Proceeds of door financing 0 0 4,069,500 3.415,500 7485000 Bad debt note receivable 0 0 0 IS 750) (6]50) Bull of gr ant revenue 0 0 0 (57000) (57.000) TOTAL OTHER FINANCING SOURCES (USES) (175.200) (1,922,284) 5.944,595 3,665,087 7,512.1% EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 468.824 496020 3,865737 442.566 5.273.947 FUND BALANCE AT BEGINNING OF YEAR 3.441433 2288399 5902,438 6749.998 18382,268 FUND BALANCE AT END OF YEAR 3910257 2785219 9 768 175 7 192 564 23656215 THE NOTES TO THE FINANCIAL STATEMENTS AHE AN INTEGRAL PART OF THIS STATEMENT. 11 City of Cape Girardeau, Missoud COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET (GAAP BASIS) AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 12 GENERALFUND SPECIAL REVENUE FUNDS VARIANCE VARIANCE FAVORABLE FAVORABLE BUDGET ACTUAI, (UNFAVORABLE) BUDG Ef ACTUAL (UNFAVORABLE1 REVENUES Texas 8,168,888 8,365,336 196,448 2314,W0 2,613.377 298,497 licenses aid permits 635,430 692,933 57,503 0 0 0 Intergovernmental 232,715 225,279 (7,436) 926,300 979742 51442 Charges for se,Nces 249,460 275.419 25,959 251,081 231,138 (19943) Interde(nrtmental services 296,000 321,811 25,811 0 0 0 Fines and brfedures 522.000 568,864 46.864 11,000 15,558 4,558 Miscelanecus- 35,000 75,741 40,741 22300 46.481 24,181 Interest 95,540 89,705 (5.835) 89,450 90.953 1,503 TOTALREVENUES 10.235,033 10.615,088 38,055 3,617,011 3,977,249 3W 238 EXPENDITURES Current General government 913,943 867,893 46,050 533688 297,399 2%289 Trans,n.bon 1.361,281 1,394,702 (33421) 1F 000 72.311 77689 Public safety 5,753,921 5.718 NIC 35,581 0 0 0 Health 0 0 0 103,152 105.997 (3845) Cemetery 94,546 94,351 195 0 0 0 Culture and recreation 621,129 560267 40.862 1,042(K3 1,032,306 10,327 Commmity development 697,104 6W742 16.362 86,440 48,315 38,125 InterdepaNnental 721,020 610.045 110,975 0 0 0 Contengenry 50,000 20,569 29,431 0 0 0 De of service Principal 0 0 0 0 0 0 Interest and fiscal charges 4,000 4,155 (155) 0 817 (817) TOTAL EXPENDITURES 10.216.944 9.971,64 245,880 1,915,913 1,558,145 35 768 EXCESS (DEFICIENCY) OF REVENUES :. OVER (UNDER) EXPENDITURES 18.089 644,024 625935 1.701 OM 2,419.104 718.006 OTHER FINANCING SOURCES (USES) Transfers In 631,313 631,313 0 2W,000 200.000 0 Transfer out (00,200) (815013) (14,813) (2,122,800) (2,122.284) 516 Proceeds from fixed assets 7,500 7,240 (260) 0 0 0 Special assessments 400 1.260 am 0 0 0 TOTAL OTHER FINANCING SOURCES (160.987) (175,200) 14213 1,92$800) (1,922284) 516 (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (142898) 468,824 611,722 (221]02) 4$,820 718,522 FUND BALANCE AT BEGINNING OFYEAR 3441 433 3.441433 0 2288.399 2288,399 0 FUND BALANCE AT END OF YEAR 3298,535 3.910257 511722 2066,697 2.785.219 718,522 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 12 EXPENDITURES Current Capital outlay 0 0 0 Debt service City or Cape Girardeau, Missouri 45,084 60,172 COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 1,289,337 1,289,337 CHANGES IN FUND BALANCE Interest end fiscal charges 1,358126 BUDGET (GAAP BASIS) AND ACTUAL — DEBT SERVICE AND CAPITAL PROJECTS FUND TYPES (84038) TOTAL EXPENDITURES FOR THE FISCAL YEAR ENDED JUNE 30, 1993 2.731,601 (84,038) EXCESS (DEFICIENCY) OF REVENUES 282721 36650137 DEBT SERVICE FUNDS CAPITAL PROJECTS FUNDS OVER (UNDER) EXPENDITURES (1,995.763) VARIANCE VARIANCE .e OTHER FINANCING SOURCES (USES) FAVORABLE FAVORABLE BUDGET ACTUAL IUNFAVORABLEI BUDGET ACTUAL (UNFAVORABLE) REVENUES Transferrin 1,704.[60 Taxes 244,800 259082 14,282 0 0 0 Transferout Intergovernmental 8, W 8,655 655 970.180 216,745 (753.435) 0 Miscelweous 0 0 0 0 X X 168,419 Interest 3%,000 385.006 (13,994) 433175 218,7422114.433) 0 TOTALREVENUES 651,800 652,743 943 1403355 JIM 51]9167,838) EXPENDITURES Current Capital outlay 0 0 0 Debt service (3,356) 45,084 60,172 Principal 1,289,337 1,289,337 0 Interest end fiscal charges 1,358126 1442,264 (84038) TOTAL EXPENDITURES 2647.563 2.731,601 (84,038) EXCESS (DEFICIENCY) OF REVENUES 282721 36650137 3.382.366 OVER (UNDER) EXPENDITURES (1,995.763) (2.078,858) (83,095) OTHER FINANCING SOURCES (USES) Transferrin 1,704.[60 1,706,676 2,626 Transferout 0 0 0 Special assessnenis 68,000 168,419 100.419 Proceeds of debt financing 0 4,069, W0 4,069, W0 Bad debt note receivable 0 0 0 Refund of grant revenue 0 0 0 TOTAL OTHER FINANCING SOURCES (USES) 1,772.050 5.944,595 4.172.545 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (223713) 3,865737 4,089,0.50 FUND BALANCE AT BEGINNING OF YEAR 5,902,438 5,902.438 0 FUND BALANCE AT END OF YEAR 5,678725 9,768,175 4,089,450 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 13 5,309,300 3,517,671 1,791 629 0 0 0 0 0 14Q367 (140367) 5309, 3W 3.658.036 165),262 (3.905 945) (3,222,521) 633424 275,700 294,584 18,884 (38,063) (41,419) (3,356) 45,084 60,172 15,088 0 3,415,X0 3,415,X0 0 (6,750) (6.750) 0 (57,000) (57,000) 282721 36650137 3.382.366 (3623,224) 442,566 4,065.50 6,749,998 6,749,996 0 3,126,774 7,192564 4,065,790 Cit, of Cape Girardeau, Missouri COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES FOR THE FISCALYEAR ENDED JUNE 30, 1993 OPERATING REVENUES Residential charges Commercial charges Transfer Nation charges Equipment sales Conceaaan r—nuee Golf course lees Other lees and charges lmerdepanmentai services Renral revenue Donations Other miscellaneous OPERATING EXPENSES Personnel services Materials and supplies Contractual s ass General operating expensea Specal protects..pence mal —in. axpenca5 Deprecation expense ea OPERATING INCOME (LOSS) NON—OPERATING REVENUES (EXPENSES) Federal grams Interest income Issuance nos, am,rhoolion se, Interest and Terring costs INCOME (LOSS) BEFORE OTHER FINANCING SOURCES (USES) OTHER FINANCING SOURCES (USES) Transfers in Transfers out Campenmticn for damages Sales of fixed assets Loss on rise, pace, NET INCOME (LOSS) RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR RETAINED EARNINGS (DEFICIT) AT END OF YEAR PROPRIETARY FUND TYPES 4,741 INTERNAL ENTERPRISE SEWCE 4.435 791 0 2,570,647 0 375.149 0 8,287 0 51413 0 282.983 0 240,529 0 0 1720,013 77.876 0 0 0 29.316 4,163 8,071,991 1.724 176 1,759,499 365,252 204,206 256,447 2,893,057 767,706 473.065 1,149 36,756 0 365,019 2,364 1,313,151 121276 7,046 755 1,516.196 1,025,236 207,960 165,066 0 353.476 37.174 (36,427) 0 (I, 475.582) (503) (990.467) 36,671 31769 244.651 150,000 0 (3.857) 0 13,875 4,599 2.208 142 0 0 162.226 4,741 193,995 249,392 10313 160 1735.435 10.507.155 1 984 827 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 14 TOTALS MORANOUM ON 1992-1993 4,435.791 2,570,64] 175,149 9.287 51,413 282.983 240,529 1720,013 77,976 0 33.479 9.796 167 2,124751 462,653 3,660.763 474,214 38 756 367,383 1.434429 8.562,951 1,233,215 165.066 390,650 (36.427) (1,476,085) (956,796) 276.420 150,000 (3,89) 19,474 2.350 0 166.967 443,386 12.048,595 12.491.981 + City of Cape Girardeau, Missouri COMBINED STATEMENT OF CASH FLOWS— ALL PROPRIETARY FOND TYPES For the fiscal year ended June 30, 1993 Increase (Decrease) in Cash and Gash Equivalents Cash flows from operating activities: Oparati ng income (loss) 1,233,216 aw Adjustments to reconcile operating income to net cash provided by appealing activities: Depreciation 1,434,429 Cash operating grants recoved 165,066 aw Change in assets and liabilities: (Increase) decrease In accounts receivable (496.345) (Increase) decrease in inventory (131568) (Increase) decrease in prepaid expenses (29,309) Increase (decrease) in accounts payable 513,780 Increase (decrease) in accrued liabilities 74,359 Net cash provided by operating activities 2.763628 Cash flows from roncol financing activities: Operating transfers in from other funds 15,000 Operating transfers suit. o har furds (3,857) Net cash provided by noncaproal financing activities 146.143 Cash flows from capital and related financing activities: Proceeds from developers 152,229 Principal paid on revenue bonds (45,000) Principal paid on lease purchase bonds (415,664) Principal paid on lease purchase obligations (119,966) Interest paid on bondsand obligations (1,%2755) Proceeds from capital grants received from other governments 795,167 Purchase of fixed assets (3,634,312) Other 35,426 Net cash used in capital and related financing activities (4.594,873) Cash flows from investing activities: Purchase of Investments (2.275479) Proceeds from sale of investments 1,872.000 aw Interest on investments 390.650 Net cash used in investing activities (12,829) r Not decrease in cash and cash equivalents (1,697,931) Cash and cash equivalents at beginning of year 5,565,344 Cash and cash equivalents at end of year 3.867413 Cash paid during the year for interest 1,362,755 + Non—cash capital financing activities: Contributions of fixed assets 216,612 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 15 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT 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, water, sanitation, health and social services, culture -recreation, public improvement, planning and zoning and general administrative services. The financial statements of the City have been prepared in conformity with generally accepted accounting principles (GAAP), as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below. 1. Reporting Entity In evaluating how to define the City, for financial reporting purposes, management has considered all potential component units. The decision to include a potential component unit in the reporting entity was made by applying the criteria set forth in GAAP. The basic --but not the only-- criterion for including a potential component unit within the reporting entity is the governing body's ability to exercise oversight responsibility. The most significant manifestation of this ability is financial interdependency. Other manifestations of the ability to exercise oversight responsibility include, but are not limited to, the selection of governing authority, the designation of management, and the ability to significantly influence operations and accountability for fiscal matters. The other criterion used to evaluate potential component units for inclusion or exclusion from the reporting entity is the existence of special financing relationships, regardless of whether the City is able to exercise oversight responsibilities. Based upon the application of these criteria, the following is a brief review of each potential component unit addressed in defining the City's reporting entity. Based on the foregoing criteria, the financial statements of the following entities are included in the accompanying financial statements. Cape Girardeau Public Library - The City Council appoints the Library Board and approves the budget. The operations of the Library are reported in the Library Fund, a special revenue fund. 16 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 1. Reporting Entity - Continued 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 six lease agreements with the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The CGPFA is a not-for-profit corporation organized and existing under Chapter 355 of the Revised 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 of issuing and securing the Series 1988 Bonds, Series 1989 Bonds, Series 1990A Bonds, Series 1990E Bonds, Series 1991 Bonds, Series 1993 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. The following entities are not part of the City's reporting entity because the City exercises no oversight responsibility and has no accountability for fiscal matters. The significant factors for . exclusion are: the appointed board members have no continuing relationship with the City; the board designates management; the City cannot significantly influence the operations; the board has sole budgetary authority; the entities control surpluses and deficits; the City is not legally or morally obligated for the entities debt; and the entities are responsible for fiscal management. In this situation, the preceding factors are conclusive in contrast with the following factors indicating inclusion: the entities operate within the boundaries of the City and the City appoints members to the board. Based on the criteria above, the following entities are excluded from the financial statements of the City, the Downtown Redevelopment Corporation, the Park Development Board, and the Show Me Center Board of Managers. 17 City of Cape Girardeau, Missouri NOTE TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 2. Fund Accounting The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses as appropriate. Government resources are allocated to and accounted for in individual funds based upon the 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. + GOVERNMENTAL FUND TYPES _ General Fund - The General Fund is the general operating fund of the City. All financial resources, except those required to be accounted for in another fund, are accounted for in the General Fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than expendable trust or major capital projects) that are legally restricted to expenditures for specified purposes. Debt Service Fund - The Debt Service fund is used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest and related costs. Capital Project Funds - Capital Project Funds account for financial resources to be used for the acquisition or construction of major capital facilities, which are not financed by Proprietary Funds and Trust Funds. PROPRIETARY FUND TYPES Enterprise Funds - Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs (expenses including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered _ primarily through user charges; or where the governing body has decided that periodic determination of revenues collected, expenses paid, and/or net income is appropriate for capital City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 2. Fund Accounting - Continued maintenance, public policy, management control, accountability, or other purposes. 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. FIDUCIARY FUNDS Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, and /or other funds. Agency Funds are custodial M in nature and do not involve measurement of results of operations. GENERAL FIXED ASSETS AND GENERAL LONG-TERM DEBT ACCOUNT GROUPS + General Fixed Assets (GFA) - The General Fixed Assets Account Group is used to account for fixed assets used in governmental fund type operations for control purposes. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated value on the date of donation. Depreciation is recorded on general fixed assets. General Long -Term Debt Account Group - The General Long -Term Debt Account Group is used to account for long-term liabilities to be financed from government funds. 3. Fixed Assets General Fixed Assets Account Group - Fixed assets used in governmental fund type operations are accounted for in the General Fixed Assets Group of Accounts, rather than in governmental funds. Public domain (infrastructure) general fixed assets, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems, are not capitalized along with other general fixed assets. Depreciation has been provided on all capitalized assets, except for land. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated assets are valued at their estimated fair value on the date 19 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTES A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 3. Fixed Assets - Continued donated. Repairs and maintenance are recorded as expenditures; renewals and betterments are capitalized. 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 r are as follows. Buildings 25-50 years Improvements 10-40 years Equipment 3-10 years 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 20 City of Cape Girardeau, Missouri NOTE TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 4. Basis of Accounting - Continued + 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 revenue to be available if it is collected within 30 days after year-end. Expenditures are recorded when the related fund liability is incurred. Principal and interest on long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Those revenues susceptible to accrual are property taxes, franchise taxes, special assessments, licenses, interest revenue and charges for services. Sales taxes collected and held by the state at year- end on behalf of the City also are recognized as revenue. Fines and permit revenues are not susceptible to accrual because generally they are not measurable until received in cash. The accrual basis of accounting is utilized by proprietary funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The City reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the City before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the City has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. 5. Budgets and Budgetary Accounting The City follows these procedures in establishing the budgetary data reflected in the financial statements. 1. The City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means of financing them. 21 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 5. Budgets and Budgetary Accounting - Continued 2. Public hearings are conducted to obtain taxpayer comments. 3. Prior to July 1, the budget is legally enacted through passage of an ordinance. 4. The City Manager is authorized to transfer budgeted amounts between programs within any department, however, any revisions that alter the total expenditures of any department must be approved by the City Council. 5. Formal budgetary integration is employed as a management control device during the year for all funds. 6. Budgets for all funds are adopted on a basis consistent with generally accepted accounting principles (GAAP). Individual budget amendments made throughout the year were not material in relation to the original appropriations which were amended. 6. Inventories Inventories consist primarily of supplies, valued at cost, which approximates market. Cost is determined using a weighted average method. The cost of inventories is recorded as expenditures or expenses when consumed rather than when purchased. 7. Compensated Absences Vested or accumulated vacation pay for proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. Amounts of vested or accumulated vacation leave of governmental funds 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. S. 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 22 + City of Cape Girardeau, Missouri NOTE TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 8. Bond Discounts/Issuance Costs - Continued of the bonds. Bond discounts are presented as a reduction of the face amount of bonds payable whereas issuance costs are recorded as deferred charges. 9. Total Columns - Memorandum Only Total Columns are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these + columns do not present results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. 10. Cash and Cash Equivalents For purposes of the statement of cash flows, the proprietary fund types consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. 11. 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. 12. Prepaid Items _ Payments made to vendors for services that will benefit periods beyond June 30, 1993 are recorded as prepaid items. 13. Restricted Assets Certain proceeds of enterprise fund revenue bonds, as well as certain resources set aside for the repayment of such bonds, are classified as restricted assets on the balance sheet because their use is limited by applicable bond covenants. The "revenue bond construction" account is used to report those proceeds of revenue bond issuances that are restricted for use in construction. The "revenue bond current debt service" account is used to report resources set aside to make up potential future deficiencies in the revenue bond current debt service account. 23 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS r June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 14. Lona -term Obligations Long-term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long-term debt account group. Long-term liabilities expected to be financed from proprietary fund operations are accounted for in the appropriate proprietary fund. 15. 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. 16. Short-term Interfund Receivables/Payables During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Short-term interfund loans are classified as "interfund receivables/payables". 17. 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 financial resources and therefore are not available for appropriation. 24 City of Cape Girardeau, Missouri NOTE TO FINANCIAL STATEMENTS June 30, 1993 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 18. Post -Employment Health Care Benefits In addition to the pension benefits described in Note H, it is the City's policy to provide postretirement health care benefits to .. employees who retire from the City with five or more years of service and who are eligible for LAGERS retirement (Note H). Currently, fourteen employees meet those eligibility requirements. The City provides health care coverage for them until age 65. The cost of retirees' health care benefits is recognized as an expenditure as premiums are paid. For 1993, those costs totaled $20,962. 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. 1993. 25 NOTE B - CASH AND INVESTMENTS 1. Deposits At June 30, 1993, the carrying amount of the City's deposits was $399,550 and the bank balance was $395,105 which excludes $4,445 of petty cash funds held at various City locations. The deposits are categorized in accordance with risk factors created by governmental reporting standards. Carrying Bank Amount Balance Category #1 $ 161,675 $ 161,675 Category #2 237,875 233,430 Category #3 - - $ 399,550 $ 395.105 Category #1 includes deposits covered by deposit insurance or collateral held by the City in the City's name. Category 02 includes deposits covered by collateral held by the financial institution's trust department in the City's name. Category #3 includes deposits which are uncol lateral i zed or the collateral is held by the financial institution's trust department but not in the City's name. 25 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE B - CASH AND INVESTMENTS 2. Investments The City is allowed to invest its available operating and reserve funds in (1) obligations of the United States or its agencies and instrumentalities; (2) repurchase agreements collateralized by securities listed in (1) above, documented by a written agreement, fully collateralized by delivery to an independent third party custodian, and are marked -to -market; (3) Insured or collateralized deposits or certificates of deposit of banks, savings and loan associations, and other regulated financial institutions; (4) money market mutual funds whose portfolio consists of the foregoing instruments; and (5) other prudent investment instruments approved prior to purchase by a two-thirds majority of the City Council. + Proceed of bond issues may be invested as allowed in the bond indenture. Investments made by the City are summarized below. The investments that are represented by specific identifiable investment securities are classified as to credit risk by the three categories described below: Category #1 Insured or registered, or securities held by the City or its agent in the City's name. Category #2 Uninsured and unregistered, with securities held by the counter -party's trust department or agent in the City's name. Category 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 City of Cape Girardeau NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE B - CASH AND INVESTMENTS - Continued 2. Investments - Continued 27 Category Carrying Market #1 #2 "3 Value Value Repurchase Agreements $ 5,317,971 $- $- $ 5,317,971 $ 5,317,971 Certificates of Deposit - Insured By Agencies of U.S. Government 985,874 - - 985,874 985,874 U.S. Government Securities 15,121,273 - - 15,121,273 15,226,863 Money Market Account U.S. Government Securities 5,348,242 - - 5,348,242 5,348,242 $26,773,360 $_ $_ 26,773,360 26,878,950 State Revolving Fund Program 1,413,662 1,413,662 Investments in Deferred Compensation Plan 692,606 692,606 .� $28,879,628 $28,985,218 Included in the amounts shown above is $3,578,546 to be used to retire the 1984 Public Building Bonds and $3,713,818 to be used to retire the 1987 General Obligation Refunding Bonds (Note E). 27 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE C - PROPERTY TAXES Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on August 17, 1992, for collection during this fiscal year and were due on or before December 31. Most of the taxes are collected in November and December. The tax rates assessed at the time were as follows: City Revenue $ .31/100.00 assessed valuation Library Tax .15/100.00 assessed valuation Public Health Tax .04/100.00 assessed valuation Debt Service Tax .10/100.00 assessed valuation Special Business District .80/100.00 assessed valuation n2 (Ad valorem) Reserve for doubtful property taxes at June 30, 1993, was $23,871. NOTE D - CHANGES IN FIXED ASSETS Additions and deletions to the Enterprise Funds for the fiscal year 1993 were $3,823,950 and $26,000, respectively. Additions and deletions to the Internal Service Funds were $28,974 and $ D respectively. A summary of fixed assets at June 30, 1993 follows: General Fixed Enterprise Internal Assets Fund Service Fund Land $ 1,748,789 $ 546,439 $ 37,500 Buildings 7,996,459 9,879,831 365,114 Improvements other than building 103,780 26,987,850 26,851 Equipment 3,562,622 3,036,272 876,062 Construction in progres 8,282 3,645,909 $13,419,932 $44,096,301 $1,305,527 Less accumulated depreciation 7,042,467 12,195,724 533.018 S 6,377.465 $31 900,577 $ 772.509 Wi City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG-TERM OBLIGATIONS The following is a summary of bond transactions of the City for the year + ended June 30, 1993. General Leasehold + Obligation Revenue Revenue Bonds Bonds Bonds Total Bonds payable at $ 7,660,000 $15,436,908 $16,998,156 $40,095,064 July 1, 1992 Discount Amortization - 8,613 13,136 21,749 + Bonds Issued 3,690,000 - 3,795,000 7,485,000 Bonds Retired (175,000) (45,000) (1,530,000) (1,750,000) Bonds payable at + June 30, 1993 $11 175,000$15 400 521$19 276,292 $45,851.813 Bonds payable at June 30, 1993 are comprised of the following individual issues. $3,905,000 1984 Public Building serial bonds due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total + 1994 9.25% 190,000 377,073 567,073 1995 9.00% 3,715,000 184,142 3,899,142 $3,905,000 $ 561,215 S4 466 215 Principal payments are made on November 1, and interest payments are made semi-annually on May 1, and November 1. After the payment of $205,000 is made on November 1, 1994, proceeds from the 1987 Refunding Bonds will be used to retire the remaining $3,510,000 of the 1984 Public Building serial bonds. $3,580,000 1987 General Obligation Refunding Bonds due as follows: Interest Year Ending Interest Principal Interest Paid From June 30 Rate Due Due Escrow Total + 1994 Various $ - $ 238,628 $ 238,628 $ - 1995 Various 3,580,000 238,628 119,869 3,698,759 53.580 000 S 477.256 $ 358.497 $3,698,759 Principal payments are made annually on November 1, and interest payments are made semi-annually on May 1, and September 1. 29 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS .lune 30, 1993 NOTE E - LONG-TERM OBLIGATIONS - Continued 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 principaland interest from ad valorem 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 $3,905,000 principal amount of the outstanding Series 1984 Bonds of the City. To effect the refunding of the Series 1984 Bonds, the City entered into an Escrow Deposit Agreement (the "Escrow Deposit Agreement"), dated as of August 1, 1987, with the Boatmen's National Bank of St. Louis, as escrow agent ("Escrow Agent"). Pursuant to the Escrow Deposit Agreement, the Escrow Agent deposited the proceeds of the Bonds to be applied in the amount of $3,580,600 to the purchase of " United States Treasury Securities (the "Escrowed Securities"). The principal amount of the Escrowed Securities, together with the ., interest income thereon, will be payable at such times and in such amounts, together with the monies held uninvested by the Escrow Agent, to pay, when and as due, the interest on the Bonds from November 1, 1987 through November 1, 1994, and to pay the principal ' of and redemption premium on the Series 1984 Bonds and may be applied only to such payment. +� The Escrow Deposit Agreement 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 principalof and redemption premium on the Series 1984 Bonds and may be applied only to such payment. Proceeds from the 1993 Refunding Bonds will be used to retire the $3,580,000 outstanding principal of the 1987 Refunding Bonds on November 1, 1994. 30 Principal payments are made annually on November 1, and interest payments are made semi-annually on May 1 and November 1. y On April 20, 1993, the City of Cape Girardeau issued $3,690,000 of General Obligation Refunding Bonds Series 1993 with interest rates varying from 3.75% to 5.50%. The refunding bonds constitute general obligations of the City and will be payable as to both principal and interest from ad valorem 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 used to _ refund $3,580,000 outstanding principal amount of General Obligation Refunding Bonds, Series 1987, of the City and pay the costs of issuance of the bonds. To effect the refunding of the Series 1987 Bonds, the City entered into an Escrow Trust Agreement (the "Escrow Trust Agreement"), dated as of April 1, 1993, with Capital Bank of Cape Girardeau County, Cape Girardeau, Missouri, as escrow agent (the "Escrow Agent"). Pursuant to the Escrow Trust Agreement, the City deposited $3,619,331 of the proceeds of the Bonds and $91,200 from the debt service fund for the Series 1987 Bonds to purchase United States Government Obligations in book entry form (the "Escrowed Securities"). 31 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E LONG-TERM OBLIGATIONS - Continued $3,690,000 1993 General Obligation Refunding Bonds due as follows: Interest Year Ending Interest Principal Interest Paid From June 30 Rate Due Due Escrow Total 1994 $ $ 178,119 $ 178,119 $ - 1995 172,838 86,419 86,419 1996 5.50% 300,000 164,588 464,588 1997 3.75 320,000 150,338 470,338 1998 4.00 330,000 137,738 467,738 1999 4.25 345,000 123,806 468,806 2000 4.50 355,000 108,488 463,488 2001 4.70 370,000 91,805 461,805 2002 4.90 390,000 73,555 463,555 2003 5.00 405,000 53,875 458,875 2004 5.00 425,000 33,125 458,125 2005 5.00 450.000 11,250 461,250 $3 690 000$1 299 525 1 264,538 X4,724,987 Principal payments are made annually on November 1, and interest payments are made semi-annually on May 1 and November 1. y On April 20, 1993, the City of Cape Girardeau issued $3,690,000 of General Obligation Refunding Bonds Series 1993 with interest rates varying from 3.75% to 5.50%. The refunding bonds constitute general obligations of the City and will be payable as to both principal and interest from ad valorem 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 used to _ refund $3,580,000 outstanding principal amount of General Obligation Refunding Bonds, Series 1987, of the City and pay the costs of issuance of the bonds. To effect the refunding of the Series 1987 Bonds, the City entered into an Escrow Trust Agreement (the "Escrow Trust Agreement"), dated as of April 1, 1993, with Capital Bank of Cape Girardeau County, Cape Girardeau, Missouri, as escrow agent (the "Escrow Agent"). Pursuant to the Escrow Trust Agreement, the City deposited $3,619,331 of the proceeds of the Bonds and $91,200 from the debt service fund for the Series 1987 Bonds to purchase United States Government Obligations in book entry form (the "Escrowed Securities"). 31 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E LONG-TERM OBLIGATIONS - Continued The principal amount of the Escrowed Securities, together with the interest income thereon, will be payable at such times and in such amounts, together with the moneys held uninvested by the Escrow Agent, to pay, when and as due, the interest on the Bonds to and including the Cross -Over Date and the principal of and redemption premium on the Series 1987 Bonds being called for redemption on the Cross -Over Date. The Escrow Trust Agreement provides that the Escrowed Securities and the moneys held uninvested by the Escrow Agent are irrevocably pledged to the payment of the interest on the Bonds to and including November 1, 1994, and the principal of and redemption premium on the Series 1987 Bonds to be redeemed on November 1, 1994, and may be applied only to such payments. 32 $1,170,000 1986 Sewerage System Revenue Bonds due as follows. Year Ending Interest Principal Interest June 30 Rate Due Due Total 1994 8.50 $ 50,000 $ 91,523 $ 141,523 1995 7.50 50,000 87,272 137,272 1996 7.50 60,000 83,523 143,523 1997 7.50 65,000 79,022 144,022 1998 7.50 70,000 74,148 144,148 1999 7.60 75,000 68,897 143,897 2000 7.70 85,000 63,198 148,198 2001 7.75 95,000 56,652 151,652 2002 7.80 100,000 49,290 149,290 2003 7.90 110,000 41,490 151,490 2004 8.00 125,000 32,800 157,800 2005 8.00 135,000 22,800 157,800 2006 8.00 150.000 12,000 162.000 $1.170.000 $ 762,615$1,932,615 Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. 32 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG TERM OBLIGATIONS - Continued $11,840,000 Waterworks System Revenue Bonds Series 1992 due as follows Year Ending Interest Principal Interest June 30 Rate Due Due Total 1994 4.250 $ 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 TOTAL$11,840,000 $10,827,135 X22,667,135 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. 33 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 subsidized by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds held by the trustee, the 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, 1993 was $554,240. The reserve fund yields 6.71%. 34 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG-TERM OBLIGATIONS - Continued $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 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 6.600 105,000 126,899 231,899 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 14.781 229.781 TOTAL S2 500,000 $2,301,814 54.801.814 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 subsidized by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds held by the trustee, the 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, 1993 was $554,240. The reserve fund yields 6.71%. 34 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 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: $1,052,699 - Sewer Fund; $778,228 - Solid Waste Fund; and $674,073 - 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. 35 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG-TERM OBLIGATIONS - Continued $2,505,000 Building and Equipment Leasehold Revenue Bonds, Series 1988 due as follows: Year Ending Interest Principal Interest September 1 Rate Due Due Total 1993 6.50 $ 355,000 $ 158,023 $ 513,023 1994 6.60 375,000 134,110 509,110 1995 6.70 400,000 108,335 508,335 1996 6.80 430,000 80,315 510,315 1997 6.90 455,000 49,998 504,998 1998 7.00 490,000 34,300 524,300 $2,505.000 $ 565,081 $3.070,081 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 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: $1,052,699 - Sewer Fund; $778,228 - Solid Waste Fund; and $674,073 - 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. 35 36 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG-TERM OBLIGATION - Continued $4,010,000 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 1994 6.85 $ 370,000 $ 279,470 $ 649,470 1995 6.85 380,000 254,125 634,125 1996 6.90 400,000 228,095 628,095 1997 6.90 405,000 200,495 605,495 1998 6.95 420,000 172,550 592,550 1999 7.00 435,000 143,360 578,360 2000 7.00 455,000 112,910 567,910 2001 7.05 470,000 81,060 551,060 2002 7.10 490,000 47,925 537,925 2003 7.10 185.000 13,135 198.135 $4 010,000 81 533,125 $5,543.125 The 1989 bonds 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 principal is allocated as follows: $2,310,361 - Sewer Fund and $1,699,639 - 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. 36 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG-TERM OBLIGATION - Continued $4,875,000 Building and Equipment Leasehold Bonds, Series 1990 A and B, due as follows: $3,895,000 Series 1990A Year Ending Interest Principal. Interest March 1 _Rate Due Due Total 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 6.35 480,000 170,405 650,405 1998 6.45 510,000 139,925 649,925 1999 6.50 550,000 107,030 657,030 2000 6.60 1 080.000, 71,280 _1_,151. 280 Sy3,,,895.000 $].,160,905 $5.055,905 $980,000 Series 1990B Year Ending Interest Principal. Interest March 1 Rate Due Due _ Total 1994 6.25 $ 50,000 $ 66,168 $ 116,168 1995 6.30 50,000 63,043 113,043 1996 6.40 60,000 59,893 119,893 1997 6.50 65,000 56,052 121,052 1998 6.60 65,000 51,828 116,828 1999 6.70 70,000 47,537 117,537 2000 6.75 75,000 42,847 117,847 2001 6.80 80,000 37,785 117,785 2002 6.85 80,000 32,345 112,345 2003 6.90 85,000 26,865 111,865 2004 7.00 90,000 21,000 111,000 2005 7.00 210,000 _,__1_4� 7_00 224,700 S 980. 000 52Q�0 ,_63 Sit, 500 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. 37 0 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 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 bands 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. $4,150,000 Building and Equipment Leasehold Revenue Bonds, Series 1991 Year Ending Interest Principal Interest March 1 Rate Due Due Total 1994 5.40 $ 440,000 $ 245,511 $ 685,511 1995 5.55 465,000 221,751 686,751 1996 5.70 490,000 195,944 685,944 _ 1997 5.85 520,000 168,014 688,014 1998 6.00 550,000 137,594 687,594 1999 6.13 575,000 104,594 679,594 2000 6.25 1,110,000 69,375 1,179,375 $4 150,000$1,142,783 $5,292,783 The bond's are obligations of the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The CGPFA has entered into a Lease Purchase Agreement with the City of Cape Girardeau, Missouri. Principal and interest will be paid by the CGPFA from rental and other receipts from the City. The purpose of the 1991 bonds is to acquire, construct, improve, widen, repair and enlarge creek channels and a dry detention reservoir for the purpose of flood control. The bond liability for these bonds is recorded in the 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. 0 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30. 1993 NOTE E - LONG-TERM OBLIGATIONS - Continued $3,795,000 Building and Equipment Leasehold Revenue Bonds (Convention and Visitors Recreation Facilities Project), Series 1993. Year Ending Interest Principal Interest June 30 Rate Due Due Total 1994 2.900% $ 250,000 $ 178,193 $ 428,193 1995 3.500 85,000 170,943 255,943 1996 3.900 135,000 167,968 302,968 1997 4.100 170,000 162,703 332,703 1998 4.300 215,000 155,733 370,733 1999 4.500 255,000 146,488 401,488 2000 4.700 295,000 135,013 430,013 2001 4.800 345,000 121,148 466,148 2002 5.000 400,000 104,588 504,588 2003 5.000 455,000 84,588 539,588 2004 5.125 510,000 61,838 571,838 2005 5.250 680,000 35,700 715,700 $3,795,000 $1,524.903 $5,319,903 The bonds are obligations of the Cape Girardeau (Missouri) Public Facility 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 the rental and other receipts from the City. The purpose of the 1993 Series bonds is for the acquisition, construction, furnishing, and equipping of a convention and recreational center, softball and soccer fields and improvements to the City Hall. The bond liability for the Series 1993 bonds is recorded in the General Long - Term Debt Account Group. Principal payments are made annually on April 1, and interest payments are made semi-annually on April 1, and October 1. 39 40 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG-TERM OBLIGATIONS - Continued The annual requirements to amortize all debt outstanding as of June 30, 1993 including total interest payments of $22,089,558 are as follows: General Leasehold Year Ending Obligation Revenue Revenue June 30 Bonds Bonds Bonds Total 1994 567,072 1,093,242 3,041,433 4,701,747 1995 7,684,319 1,242,928 2,848,638 11,775,885 1996 464,588 1,275,207 2,893,765 4,633,560 1997 470,337 1,309,536 2,907,983 4,687,856 1998 467,738 1,340,599 2,922,628 4,730,965 1999 468,806 1,373,173 2,958,308 4,800,287 2000 463,487 1,406,839 3,446,425 5,316,751 2001 461,805 1,446,058 1,134,992 3,042,855 2002 463,555 1,475,416 1,154,858 3,093,829 2003 458,875 1,510,191 849,587 2,818,653 2004 458,125 1,548,439 682,838 2,689,402 2005 461,250 1,579,529 940,400 2,981,179 2006 - 1,618,916 - 1,618,916 2007 - 1,492,859 - 1,492,859 2008 - 1,538,018 - 1,538,018 2009 - 1,581,138 - 1,581,138 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 229,781 229,781 812 889,957$29 401,564 $25,781,855$68,073,376 $409,461 is available in the Debt Service Fund to service the general obligation bonds. This does not include the $3,578,546 available to apply to the refunding of the 1984 Public Building Bonds or the $3,713,818 available to apply to the refunding of the 1987 General Obligation Refunding Bonds. In the Sewer Fund, $209,237 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 $ 446,448 Solid Waste Fund 122,541 Debt Service Fund 2,079,793 Airport Fund 112.790 Total $2,761,572 40 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE E - LONG-TERM OBLIGATIONS - Continued Included in restricted cash on the balance sheet is $2,399,165 which is the balance in the various project accounts which represent incomplete projects at June 30, 1993. 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. No capital lease obligation existed as of June 30, 1993. NOTE G - DEFICIT FUND BALANCES The following individual funds have deficit fund balances at June 30, 1993. Enterprise Funds Solid Waste Fund 240,893 Golf Course Fund 145.938 41 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 + NOTE H - PENSION PLAN 1. Plan Description The City of Cape Girardeau contributes to the Missouri Local Government Employees Retirement System (LAGERS), an agent multiple -employer public employee retirement system that acts as a common investment and administrative agent for local government entities in Missouri. LAGERS was created and is governed by state statute. As such, it is the system's responsibility to administer the law in accordance with the expressed intent of the General Assembly. The plan is qualified under the Internal Revenue code Section 401A and it is tax exempt. All full-time employees are eligible to participate in LAGERS. Benefits vest after five years of credited service. Employees who retire on or after age 60 (55 for police and fire) with 5 or more years of service are entitled to an allowance for life based upon the benefit program then in effect. The allowance is equal to a benefit factor multiplied by the final average salary multiplied by the number of years of service. LAGERS also provides early retirement, death and disability benefits. + 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, 1993. 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, before retirement and 4.0% per year, compounded annually, after retirement, (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. 42 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE H - PENSION PLAN - Continued 2. Funding Status and Progress - Continued At February 28, 1993, the assets in excess of the pension benefit obligation were $41,174, determined as follows: Pension Benefit Obligation: (Employer Accumulation Fund and Member Deposit Fund only) Retirees and beneficiaries currently receiving benefits $ - Terminated employees not yet receiving benefits 227,220 Current employees -- Accumulated employee contributions including allocated investment income 1,424,732 Employer financed - Vested 5,388,925 + Employer financed - Non -vested 1,007,374 Total Pension Benefit Obligation 8,048,251 Net Assets Available for Benefits; at Cost: 8,089 425 (Market value of assets: $8,780,432) + Assets in Excess of the Pension Benefit Obligation $ 41,174 3. Funding Policy 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 1993 of $574,918 was made in accordance with actuarially determined contribution requirements determined through an actuarial valuation. This amount consisted of (a) normal cost which is 6.3% of payroll and (b) amortization of prior service costs which is .60% of covered payroll. 43 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 r NOTE H - PENSION PLAN - Continued 2. Funding Status and Progress - Continued The value of vested benefits was not determined in connection with the actuarial valuation of the plan. At February 28, 1993, (the date of the most recent actuarial valuation), the total unfunded liability for benefits accrued was $1,878,424. 4. Trend Information Historical information about the City's participation in the Missouri Local Government Employees Retirement System is presented herewith as required supplementary information. This information is intended to help users assess the City's retirement plan's funding status on a going -concern basis, assess progress being made in accumulating assets to pay benefits when due, and allow for comparisons with other public employees retirement system (PERS). 44 (1) (2) (3) (4) (5) Pension Net Assets Benefit Percent Unfunded Annual Valuation Available Obligation Funded PBO Covered Date For Benefits (PBO) (1)/(2) (2)-(1) Payroll 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 02/29/93 8,089,425 8,048,251 101 ( 41,174) 6,624,319 (6) Unfunded PHO as a Percent a of Covered Payroll (4)1(5) The City's total payroll for fiscal year 1993 is $7,555,620. 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. 44 C City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE H - PENSION PLAN - Continued 4. Trend Information - Continued 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 one indication of the plan's funded status on a going -concern basis. ~ Analysis of the percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the plan. The unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of the .. progress being made in accumulating sufficient assets to pay benefits when due. Generally, the smaller this percentage, the stronger the plan. Interest cost, including handling charges, totaling $2,997,343, excluding $66,345 of interfund interest, was incurred during the year ended June 30, 1993. No interest cost was capitalized as part of the cost of assets constructed during the period. 45 Member Employer Fiscal contri- contri- Investment —ear buti,ons hutions Income Total 6/30/89 - 435,168 512,051 947,219 6/30/90 - 425,627 712,292 1,137,919 5/30/91 - 550,388 506,632 1,057,020 6/30/92 - 579,287 639,449 1,218,736 6/30/93 - 574,918 936,993 1,511,911 Expenses by tvoe Fiscal year Benefits Refunds Total 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 6/30/93 375,987 24,043 400,030 ,. NOTE I - INTEREST EXPENSE Interest cost, including handling charges, totaling $2,997,343, excluding $66,345 of interfund interest, was incurred during the year ended June 30, 1993. No interest cost was capitalized as part of the cost of assets constructed during the period. 45 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. The City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. 46 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE J - INTERFUND RECEIVABLES AND PAYABLES The following is a summary of the amounts due from and to other funds. Due to Due from General Fund $1,934,449 $ - Internal Service 225,503 225,503 Sewer Fund - 337,500 Solid Waste Fund - 950,000 Library Fund - 75,000 Golf Course Fund - 447,044 Airport Fund - 88,901 CDGB Grant - 16,200 Parks & Recreation 19.804 $2 159,952 $2,159.952 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. The City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. 46 + City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE L - SEGMENT INFORMATION FOR ENTERPRISE FUNDS The City maintains five enterprise funds which provide sewer, water, solid waste, airport and golf services. Segment information for the year ended June 30, 1993 was as follows: Sever Vater Solid Waste Golf Course Airport Total Fund Fund Fund Fund Fund Enterprise Operating Revenues S 2,076,186 $ 3,390,153 S 2,154,839 $ 357,320 8 91 8 8,071,991 _ Depreciation 599,243 271,947 254,567 33,763 153,631 1,313,151 Operating Grants - - - - 165,066 165,066 Operating Income (Lass) 460,259 875,605 62,893 (4,857) (368,664) 1,025,236 Operating transfers in - - - - 150,000 150,000 Operating transfers out - - - - 3,857 3,857 Net Income (Loss) 122,366 220,127 (5,037) (18,211) (125,250) 193,995 Current Capital contributions 727,926 44,302 - - 393,780 1,166,008 Transfers - - - - - Property, Plant and Equipment Additions 2,284,741 268,726 219,540 32,195 1,018,748 3,823,950 Deletiore (26,000) - - - - (26,000) Net Working Capital 2,658,652 2,915,419 (A1,246) (474,341) 21,561 4,350,045 iota( Assets 21,827,170 12,412,485 1,702,146 332,000 3,892,566 40,166,367 Bonds and Other Long- Term Liabi a tie: Payable from operating revenues 6,990,322 11,730,521 771,450 0 970,807 20,463,100 Payable frau other sources - - - - - - Total Equity 13,988,888 83,641 (240,893) (145,938) 2,621,732 16,307,430 47 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE M - EXCESS OF EXPENDITURES OVER BUDGET The following individual divisions of the City contained expenditures which exceeded the revised division budget. General Fund Inspection Services Police Street Maintenance Special Revenue Funds Health s Municipal Band r� Recreation Capaha Pool Vision 2000 Library Equipment Flood Protection Project Debt Service Funds Multi -Purpose Building Bonds CGPFA Lease Revenue Bonds Capital Projects Park Development General Capital Improvements Corp. Flood Control Capital Project Fund Enterprise Funds Sewer -Sludge Operations Sewer -Sewer Treatment Solid Waste: Transfer Station Operations Residential Collection Internal Service Funds Data Processing Center QSi( Health Insurance Division Workmen's Comp. Self Ins. Budget Actual Difference $ 214,703 $ 216,277 $ (1,574) 3, 137, 462 3, 149, 990 (12,528) 1,186,301 1,222,450 (36,149) 103,152 106,997 ., 83,845) 25,818 29,862 0A4'} (4,044) 184,254 198,765 (14,511) 38,633 44,919 (6,286) 9,200 15,846 (6,646) 8,000 20,000 (12,000) 0 4,200 '" (4,200) 813,488886,179 '�'S"(�}1"(.._. 72,691) 1,834,075• 1,845,422 11,347) 230,000 > 241,648 (11,648) 50,000 161,683 (111,683) 1,800,000 2,601,894 (806,759) r31 1 159,773 / 160,888 oh (1,115) +� ; 1,563,818 1,635,124 (71,306) 768,221 803,322. (35,101) 546,634 598,155 (51,521) W.C.bU'r 210,994 225 635V 6, ,..; .(14,641) 500,000 518,, 382` - (18,382) 0 8,293 ( 8,293) 48 + City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE N - RESERVATION OF FUND EQUITY At June 30, 1993, the City had reserved its fund equity as follows: + General Fund Reserved for prepaid expenses $ 42,175 + Reserved for advances 1,797,500 Reserved for mausoleum maintenance 48,298 Reserved for police projects 31,910 + 1,919.883 Special Revenue Funds Parks and Recreation Fund Reserved for prepaid expenses 500 + Library Fund Reserved for prepaid expenses 7,185 Reserved for restricted donations 21,260 + 28.945 Debt Service Fund Reserved for debt service 9,768,175 Capital Projects Funds General Capital Improvements Fund Reserved for debt service 18,217 + Reserved for bond capital expenditures 3,277,730 Corps Flood Control Fund Reserved for debt service 343,092 Reserved for bond capital expenditures 1,736,220 + Community Development Block Grant Reserved for economic development loan repayments 69,258 5,444 517 + Enterprise Funds Sewer Fund Reserved for debt service 16,667 NOTE 0 - COMPOSITION OF RESTRICTED ASSETS At June 30, 1993, the City has restricted assets in its Enterprise funds as + follows: Revenue Bond + Bond Sinking and Construction Reserve Fund Total + Sewer Fund $1,340,384 $1,026,695 $2,367,079 Water Fund 1,014,960 1,165,218 2,180,178 Solid Waste Fund 2,808 122,541 125,349 Airport Fund 41,012 115,765 156,777 $2,399,164 $2,430,219_ $4,829 383 49 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE P - LANDFILL CLOSURE AND POSTCLOSURE CARE COST State and federal laws and regulations require the City to place a final cover on its landfill site when it stops accepting waste and to perform certain maintenance and monitoring functions at the site for thirty years after closure. These closure and postclosure care costs will be paid from City funds as the costs are incurred. The estimated total closure and postclosure care costs is $2,337,000. These amounts are based on what it would cost to perform all closure and postclosure care activities in 1993. + The City expects to close the landfill in 1993 or 1994, and therefore expects to record the entire $2,337,000 of closure and postclosure care costs as an expense in the fiscal year ending June 30, 1994. Actual cost may be higher due to inflation, changes in technology, or changes in regulations. NOTE Q - RISK MANAGEMENT The City has established self-insurance plans for employees' health insurance and workers' compensation. Both of these are accounted for in the internal service fund. For each plan, the City is substantially self-insured, but the City is insured against very large losses. The City has also hired an administrator for each plan that handles claim payments and other duties. The workers' compensation plan was established in June, 1993. In prior years, the City was substantially insured with respect to workers' compensation. However, the workers' compensation claims paid in recent years have been very favorable as compared to the premiums paid by the City. The City management, therefore, anticipate a savings by converting to the self- insured plan. Claims liability is estimated using data supplied by the administrator. The claims activity during the year is summarized as follows: CLAIMS LIABILITIES RECONCILIATION Health Workers Insurance Compensation Total Balance, July 1, 1992 112,940 0 112,940 Provision for Incurred Claims 393,677 587 694,264 Payments of Claims (378,488) (0) (378,488) Balance, June 30, 1993 128,129 587 128 716 50 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1993 NOTE R - CONCENTRATION OF CREDIT RISK/BAD DEBT ALLOWANCE The City has uncollateralized utility accounts receivable generated within a limited geographical region primarily consisting of its city limits. The City also has taxes, special assessments, and user fees receivable which are concentrated among its citizens. Some of these items attach as liens against real and personal property. The maximum accounting loss is the amount shown as utility charges receivable on the Combined Balance Sheet (page 9). At June 30, 1993, utility receivables totalled $1,504,913. On the financial statements, the utility receivables are shown net of the allowance for doubtful accounts of $375,001. This results in net utility receivable of $1,129,912. NOTE S - COMMITMENTS AND CONTINGENCIES i Litigation Various claims and lawsuits are pending against the City. In the opinion of City management, the potential loss on all claims and lawsuits will not be significant to the City's financial statements. Grant Audit The City receives Federal and State Grants for specific purposes that are subject to review and audit by Federal and State agencies. Such audits could result in a request for reimbursement by the Federal and State for expenditures disallowed under the terms and conditions of the appropriate agency. The opinion of City management, such disallowances, if any, will not be significant. Construction Commitments + As of June 30, 1993, the City had construction commitments outstanding of $1,973,747. NOTE T - SUBSEQUENT EVENTS The City issued additional debt after June 30, 1993. As of the date of these financial statements, the City had issued $15,800,000 in additional bonds, of which $11,325,000 was for the purpose of refunding existing revenue bonds and of which $4,475,000 was for street and sewer improvements. COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS 52 City of Cape Girardeau, Missouri GENERAL FUND STATEMENT OF REVENUES AND EXPENDITURES as BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30. 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEG RAL PART OF THIS STATEMENT. 53 VARIANCE FAVORABLE as BUDGET ACTUAL SUNFAVORABLE) REVENUES Texas 8,168,888 8,365,336 196,448 Ucenees and permits 635,430 692,933 57,503 Intergovernmental 232.715 225.279 (7,436) Charges for seii,as 249,460 275,419 25,959 Interdepartmental services 296000 321,811 25,811 Fines and forfeitures 522000 568,864 46,864 Miacellan... s 35,000 75,741 40.741 Ira not 95.540 69,705 (5,835) TOTAL REVENUES 10,235,033 10.615,088 380,055 _ EXPENDITURES Current General government 913,943 867,893 46,050 Transportation 1361,261 1,394,702 (33,421) Public Safety 5,753921 5,718,340 35,581 Cemetary 94,546 94,351 195 Culham and recreation 621,129 580,267 40,862 Community development 697,104 680,742 16,362 Interdepartmental 721,020 610,045 110.975 Contingency 50,000 20,569 29.431 Dein Sevice Principal 0 0 0 _ mist .... t and fiscal charges 4,000 4,155 (155) TOTAL EXPENDITURES 10216,944 9,971,064 245,880 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 18.089 644,024 625.935 OTHER FINANCING SOURCES (USES) Transfers in 631,313 631.313 0 Transfer out (800,200) (815,013) (14,813) Proceeds from fixed assets 7,500 7,240 (260) Spacial assessments 400 1,260 860 TOTAL OTHER FINANCING SOURCES (USES) (160,967) (175,200) (14 213) r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (142898) 466,824 611,722 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEG RAL PART OF THIS STATEMENT. 53 I 1 1 1 1 1 1 1 f 1 1 i i 1 1 1 i 1 1 City of Cape Girardeau, Missouri SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET June 30, 1993 Dow'nlawn Capitol Convention/ Business Perks and Mold Improvement Flood Vision ]deb IMemdgp9ym Only) lQu am District Hecrea Fon "Naltb E Ua1 Tae Sag,]ayit iburFy lyglectrain 200 6-30-93 6-30=92 ASSETS Crib and imreslments 725,435 lS996 102 8&753 489.970 1,157,122 235]43 3,]]I 3.899 2]224]1 2,185,164 Casbendimeslmeras-dev,sund 0 0 3,315 0 0 64,994 21,2W 0 3,815 93,384 126.679 Hecavables, ed.f alld spera la tloubtlul lecei�ades Heal agile or 0 978 0 5,895 0 0 20951 0 0 27,024 20081 Personal Ropa[Y Ms 0 0 0 1,691 0 0 5.946 0 0 ],63] 6,496 Hotel -motel lux recava ble 26,351 0 0 0 0 0 0 0 0 24351 23,023 HesOvant6xrecevable 37,068 0 0 0 0 0 0 0 0 37,068 31,701 Moles fuel six 0 0 0 0 56,419 0 0 0 0 56,419 539Y1 Moles vehicle license lees 0 0 0 0 13,168 0 0 0 0 13,165 11254 Mole vehicle sales lav 0 0 0 0 15,934 0 0 0 0 15,934 12032 Olba recebebles 0 0 12 1 0 0 534 0 0 547 1,531 Saks six 0 0 0 0 0 112.894 0 0 0 112,094 106,659 Interest ...enable 235 0 0 0 1,292 8635 0 0 0 10,162 6,226 UI Guntsrecer�Me 0 0 0 0 0 V 0 0 0 0 0 Restricted! Assets 0 0 0 0 0 0 0 0 0 0 0 Repaid expenses 0 0 568 0 0 0 7.185 0 110 7,795 18562 Due kom Wrier funds 0 0 0 0 0 0 0 0 0 V 0 Ad.nces to other funds 0 0 0 0 0 0 0 0 0 0 0 768_89 17.974 4,009 9_340 5) ]83 1,343,645 292219 3,771 3131fi54 260 938 LIABILITIES AND FUND EOUDV Accounts payable 49,4W 0 27,01 2,150 25010 28 10.528 0 3.073 117,688 64,951 Accrued lobiflies Sakrin,paysoll sixes and benell5 0 0 23.947 1,226 0 0 7,490 0 0 32663 32589 Olber ledlilie 0 0 182 0 0 0 0 0 0 IV 8,653 Due la qbe funds 0 0 19.804 0 0 0 0 0 0 19,004 0 Ativance from other funds 0 0 0 0 0 0 75068 0 0 75,068 75003 Dalerredreuenue 235 688 0 6,014 1,292 67,6W 24.176 0 0 HUSH, 140,353 Fund balance Reserved 0 0 568 0 0 0 28445 0 0 20,945 34,574 Unreserved 739,386 1G996 (67_855) 86_168 550,401 1,276,014 146580 3,771 4,]51 2.]56.2]4 2253,824 768_386 -1 S995 (67_355) 86_150 5=401 1,276,014 175__025 3,771 4,751 2,785.219 2,280,398 ]68_89 17 74 4_09 9_740 5]__]83134_645 292219 8.771 7.B2,1 313_654602 98 THE NOTES 10 THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 at OI Cape GialEeau, Ml—rI S I£CIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES. EYPENORIAES AND CHANGES IN FUND VALANCE FOR THE FECAL YEAR ENDED JUNE 30, 1993 DOHNTONN CAPNAL TOTALS CQYVENTIONI OUSINESS PARKS AND MOTDR IMPUMEMENT FLOOD VISUN ME..ANOUM TOURISM DISTRICT RECREATION HEALTH FUELTAX SALES TAX LI&9NiY PROTECTION ONLY) REVENUES T— W7 SIM 18055 0 EW7,TB5] 75.MX D 2613]7) In. gwenmmdl O 0 9x16]9 0 ]2.] S o ]a2 ITa geslu s—,es O 223.422 711. D 0 2JUTJ. Fnesmalolewrts o o D IS.SSB o 0 11". Mizellmems 0 IfB.pJO D D 0 27,670 1,2710,x61 9239 file.1 I3,714 110 552 ZA'O _L] W6 41610 9,99 CH 9195) TOTAL HEW NOES 826,98 19.555 2]3982 OW,B96 1.9.OJ3 467 977 1]]I 9Al2 577249 EXTEND THREE Omm Gene2lgdanmml 20i,1(N p0 F 0 D OiN M7. ]99 mspa laYm T1m16 0FT 0 72,311 0 0 72,]11 0 0 105991 01 0 0 1.6997 0111.1[enE—f- 0 5pG2 M 0 0 16]01 6 0 0 I,gtt ]09 N Cam—.1 Eeaebpmml 0 ]2469 0 0 0 0 0 0 15.M6 18,315 DmI se l . MIn O,.. B—I Mages 0 617 D 100 BV TOTAL EXPENDITURES 29],199 32.469 565.2% IW,991 72.2311 1_6;601 156x6 1,55...5 EXCESS RETICENCY, OF REVENUES OVER LANDER) EFFENOITURES 9]079 P32277) 2,070 1,b9,W] U 12ITSO IB<WI 2.4190I1H OTHER F WANCING SOURCES BUSES) T II, 9l 0 IT2W.OD D 0 0 0FT 0 2W, W3 Ten..[ all SOSIXB) o 0 D I6W,00D) L26J.2MI 0 1 (2.1.NH) TOTAL OTHER FINANCING SOURCES (USES) VS T 21p— I6W W] _I{.R61.2M1IT0 0 EXCESS IOEFICENCO W REVENUES AND OTHER FINANCING SOURCES OVEREXPENDRURES AND OTHER "BANONG USES 270,019 O2.SMI (1]22,) 2876 208585 01 ]I9 I] QBB9) I61MI 496,67 FUNOBAIANCEAT BEGINNINOOEYEAR 61,X1 23,97 ST.. 272 2616% 1,191 M5 175012 AM0 11155 $288,]99 FUND BALANCE AT END OF YEAR 1]9.3Bfi 16.996 17,0551 B". 1278010 175025 3]71 4,751 2,]85219 THE NOTE. TO THE FGXNOAI STATEMENTS ARE AN INTEGRAL PART OF THI55TATEMENT THENOTESTOTHE FINANCIALSTATEMENTS AREAN INTEGRAL PARTOF THIS STATEMENT. 56 City of Cape Girardeau, Missouri CONVENTION/TOURISM SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE r FAVORABLE BUDGET ACTUAL 1UNFAVORABLE) REVENUES Taxes 615,000 807,564 192,564 Interest 15,000 18,714 3,714 TOTALREVENUES 630.000 826,278 19(5,278 EXPENDITURES Current General government 533,688 293.199 240,489 TOTAL EXPENDITURES 533,688 293,199 240,489 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 96,312 533.079 436.767 OTHER FINANCING SOURCES LASES) Transfer out (255,000) (255,000) 0 TOTAL OTHER FINANCING SOURCES (USES) (255,000) (255,000) 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND r OTHER FINANCING USES (158.688) 278.079 436767 Me THENOTESTOTHE FINANCIALSTATEMENTS AREAN INTEGRAL PARTOF THIS STATEMENT. 56 City of Cape Girardeau, Missouri DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 57 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Tares 24,000 18,855 (5,145) Interest 600 710 110 TOTAL REVENUES 24.600 19.565 (5.035) EXPENDITURES Current Community development 52240 32,469 19.771 TOTAL EXPENDITURES 52.240 32,469 19.771 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (27.640) (12.904) 14,736 OTHER FINANCING SOURCES (USES) 0 0 0 r. TOTAL OTHER FINANCING SOURCES (USES) 0 0 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (27.640) (12.X)4)1_4736 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 57 City of Cape Girardeau, Missouri PARKS AND RECREATION SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCALYEAR ENDED JUNE 30, 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 58 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES _ Charges for services 244,281 223,422 (20,859) Miscellaneous 10,000 9,008 (992) Int ereat 1,W0 552 (448) i TOTAL REVENUES 255,281 232,982 (22299) EXPENDITURES Currerrt Cullure antl,.oa tcn 560.508 564,442 (3,934) Dam ser ce Interest and fiscal charges 0 817 (817) TOTAL EXPENDITURES 560,508 565,259 14,)51) EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (305,22]) (332,2]]) (27,050) OTHER FINANCING SOURCES LASES) Transfers in 200,000 200,000 0 TOTAL OTHER FINANCING SOURCES (USES) 200.000 200,0X0 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f10S22T 11322]]1 12]050) r THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 58 City of Cape Girardeau, Missouri HEALTH SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUOGET (GAAP BASIS) AND ACTUAL. FOR THE FISCAL YEAR ENDED JUNE 30, 1093 (5521 2,678 3430 THE NOTES TO TriE FINANCIAL STATEMENTS ARE AN INTEGRAL PARTOF THIS STATEMENT. 59 REVENUES w Taxol Wa So,remmentai BUDGET Imam w TOTAL REVENUES 103,667 EXPENDITURES 3,300 Cu"em 254 HmIN w 544 102_600 TOTAL EXPENDITURES w EXCESS (DEFICIENCY) OF REVENUES 106,997 OVER (UNDER) EXPENDITURES w OTHER FINANCING SOURCES (USES) L,84G TOTAL OTHER FINANCING SOURCES 2,879 (USES) w 0 0 EXCESS (DEFICIENCY) OF REVENUES O AND OTHER FINANCING SOURCES OVER EXPENDITURES ANO OTHER FINANCING USES (5521 2,678 3430 THE NOTES TO TriE FINANCIAL STATEMENTS ARE AN INTEGRAL PARTOF THIS STATEMENT. 59 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) 97,200 103,667 6.467 3,300 3,564 254 2,100 _ 2,644 544 102_600 109,875 7.275 103,152 106,997 (3,845) 103,152 ID6�997 L,84G (552) 2,879 3,430 0 0 0 0. O 0 (5521 2,678 3430 THE NOTES TO TriE FINANCIAL STATEMENTS ARE AN INTEGRAL PARTOF THIS STATEMENT. 59 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF T}IIS STATEMENT. 60 City of Cape Girardeau, Missouri MOTOR FUEL TAX SPECIAL REVENUE FUND STATEMENT CF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES IMergovemmenW1 902.500 943.830 41,330 Interest 10,000 17,066 7,066 TOTAL REVENUES 912,500 960,896 48,396 i EXPENDITURES Current Transportation 150000 72,311 T7, 689 TOTAL EXPENDITURES 150,000 72,311 77,689 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 762,500 888,585 126,085 OTHER FINANCING SOURCES (USES) - '� Transfer out (600,966) (600,0901 0 TOTAL OTHER FINANCING SOURCES (USES) (600,000) (600,000) 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 162,500 288.585 126,085 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF T}IIS STATEMENT. 60 City of Cepa Girardeau, Missouri CAPITAL IMPROVEMENT SALES TAX SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEG RAL PART OF THIS STATEMENT. 61 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes 1,207,680 1,307,385 99,705 Interest 45,000 41,618 (3,362) TOTAL REVENUES 1,252,680 1,349,003 96,323 EXPENDITURES Currant Community development 25,000 0 25,000 TOTAL EXPENDITURES 25,000 0 25,000 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1.227.680 1,349,003 121,323 OTHER FINANCING SOURCES (USES) Transfer Cita (1,267,800) (1,267,284) 516 TOTAL OTHER FINANCING SOURCES (USES) (1,267,600) (1,267.284) 516 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (40.120) 81.719 121,839 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEG RAL PART OF THIS STATEMENT. 61 City of Cape Girardeau, Missouri LIBRARY SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GMP BASIS) AND ACTUAL FOO THE FISCAL YEAR ENDED JUNE 30, 1993 153,6251 13 53,638 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 62 REVENUES VARIANCE Teres Intetgovemmental BUDGET cnaiges lar services NNPAVORABLE) rtAeow inaas 375,906 mscall Miscellaneous 22.500 IMemst 9,648 TOTAL REVENUES 7,716 EXPENDITURES 11,000 Current 4.558 Culture end racraetlan 27,070 TOTAL EXPENDITURES _15.000 9,279 {5,7211 EXCESS {DEFICIENCY) OF REVENUES 467,877 OVER (UNDER) EXPENDITURES _ 462,125 _ 467,864 14,261 OTHER FINANCING SOURCES (USES) 467.664 TOTAL OTHER FINANCING SOURCES t5a.62.�5 (USES) 53,638 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES 0 OVER EXPENDITURES AND 0 OTHER FINANCING USES 153,6251 13 53,638 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 62 VARIANCE FAVORABLE BUDGET ACTUAL NNPAVORABLE) 371,000 375,906 4,906 22.500 32,348 9,648 6,800 7,716 916 11,000 15,558 4.558 2.200 27,070 24 870 _15.000 9,279 {5,7211 428,500 467,877 391377 _ 462,125 _ 467,864 14,261 462.125 467.664 14,261 t5a.62.�5 13 53,638 0 0 0 153,6251 13 53,638 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 62 as CRY of Cape Girardeau, Missouri FLOOD PROTECTION SPECIAL. REVENUE FUND + STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL. YEAR ENDED JUNE 30, 1993 Io THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 63 VARIANCE + FAVORABLE BUDGET ACTUAL. (UNFAVORAELE) REVENUES + Intarest 250 131 (i19) Misce�aaeous __,,,,, 0 t200 _ 1,200 TOTAL REVENUES 250 1,331 1,031 EXPENDITURES Current Ganaral govaoxnent 0 4,20p iA2007 as TOTAL EXPENDITURES 0 4.200 _j422� EXCESS (DEFICIENCY) OF REVENUES +' OVER (UNDER) EXPENDITURES 250 12.869) (3,119) OTHER FINANCING SOURCES (USES) 0 0 6 + TOTAL OTHER FINANCING SOURCES (USES) 0 0 6 + EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 250 131191 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 63 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 64 City of Cape Girardeau, Missouri VISION 2000 SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GMP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Miscellaneous 10,100 9,203 (897) Interest 500 239 (261) TOTAL REVENUES 10,600 9,442 (1,158) EXPENDITURES Current Community development 9,200 15,846 (6.646) TOTAL EXPENOITURES 9200 15,846 (6,646) EXCESS (DEFICIENCY) OF REVENUES 'r OVER (UNDER) EXPENDITURES 1,400 (6,404) (7,604) OTHER FINANCING SOURCES (USES) 0 0 0 TOTAL OTHER FINANCING SOURCES (USES) 0 0 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 1,400 (6,4041 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 64 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 65 City of Cape Girardeau, Missouri DEBT SERVICE FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes 244,800 259,082 14,282 Intergovemmental 81000 8,655 655 Interest 3991000 385,006 (13994) TOTAL REVENUES 651.800 652.743 943 EXPENDITURES Current Pnncipal 1,289.33] 1,289,33] 0 In2reet and fisWi charges 1,358.226 1642.264 (84,038) TOTAL EXPENDITURES 2.647,563 2,731.601 (84,038) EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,995,763) (2.078,858) (63.095) OTHER FINANCING SOURCES (USES) Tmrslers in 1,704,050 1.]06,6]6 2,626 Special assessments 68,000 168,419 100,419 Proceeds of deN financing 0 4,069,500 4,069,500 TOTAL OTHER FINANCING SOURCES (USES) 1,TI2.050 5,944,595 4,172,545 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND _ OTHER FINANCING USES 1223713) 3.865,]3] 4.089,450 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 65 1 f 1 1 t 1 1 1 1 1 1 1 1 1 1 1 1 1 1 City of Cape Girardeau, Missouri CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET June 30, 1993 General Corp Capitol Flood Street FAU Street CDBG Park Totals (Memorandum Only) Improvements Control Improvements Grants Grants Improvements 6-30-93 6-30-92 ASSETS Cash and investments 38,097 300,671 998,320 311,715 0 59,474 1,708,277 2,052,107 Cash and Investments -designated 3,288,403 2,217,986 0 0 74,845 0 5,581,234 4705,014 Grants receNeble 0 0 0 0 11.348 0 11,348 0 Special assessments receivable 0 0 217,900 25,421 0 0 243,321 296,076 Interest receivable 7,271 6,038 1.627 1,141 0 0 16,077 4,790 Other recevables 0 0 0 0 0 0 0 0 Notes receivable 0 0 0 0 20,163 0 20,163 157,195 Due from other funds 0 0 0 0 0 0 0 0 m 3,333,771 2,524695 1,217,847 338277 106,3% 59,474 7,580 420 7215182 LIABILITIES AND FUND EQUITY Accounts payable 3,651 1,314 46,327 24 364 75,266 126,946 88,297 Interest payable 0 0 0 0 0 0 0 0 Other liabilities 0 0 0 0 0 0 0 167 Due to other goiemm ants 0 0 0 0 1,000 0 1,000 82,268 Due to other funds 0 0 0 0 16200 0 16,200 0 Deferred revenue (273) 235 217,387 26,361 0 0 243,710 294454 Fund balance Reserved 3,295,947 2,079,312 0 0 69,258 0 5.444517 4,364485 Unreserved 34,446 443,834 954,133 311,892 19,534 (15,792) 1,748,047 2,385,511 3,330,393 2,523,146 954,133 311,892 88,792 (15,792) 7,192,564 6,749,996 3.333 ]Jt 2,524695 1217,847 2T 10y356 59.474 ]58042) 7215182 _338 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 City of Cape Girardeau Meoud CAPITAL PROJECTS FUNDS COMBINING STATEMENTOF REV[NUES, E%PENgNRESANO CHANGES IN FUNDBAIANCE FORTIIEFISCALYEARENREO JUNE30, 199a GENERAL FLOOD FAR TOTALS CAPITAL CONTROL STREET STREET CHUG PARK (MEMORANWM IMPROVFTAENT PRWECT IMPROVEMENT GRMTC G1 `y' IMPROVEMENT Chl LVl REVENUES Inlelgoverrvnentel 0 0 0 0 216,745 0 216.745 Miacellancous 0 30 0 0 0 0 JO In,.,. 19,843 122.171 64189 13]94 2,476 269 216,742 TOTAL MEVENUES 19,843 122201 60.189 13,]94 219.221 269 435,517 IXPENUITURES Currant Capital onlay 23.912 2606599 364874 15,508 256,621 240,157 3.517,671 Deb, service Intoa9 and liaAl charges 137,771 160 0 0 945 1,491 140,367 TOTAL IXPENgTUBES 161,603 2606759 364,874 15,500 267,566 241.648 3.650.030 EXCESS NEFICIENCY) OF REVENUES J OVEfl ANDER) IXPFNDRUflES (141,1140 24845581 (304 CIS (1.7I4) N0.345) R413791 (3,222,521 OTHER FINANCING SOURCES NSES) Transfers In 0 3857 0 0 50,]2] 240,000 294584 Translersout 0 ry,32]) (7)9) 0 0 (31,313) (41419) Special ins esments 0 0 55098 5084 0 0 60,172 Proceeds of deb, financing 3,415.500 0 0 0 0 0 3.4 Pi 500 Rod deq none necertable 0 0 0 (6,750) 0 0 (6,750) Refund of grant fere.¢ 0 0 0 0 (a7000) 0 (5],000) TOTAL OTHER FINANCING SOURCES (USES) 3,415,500 (5.00) 54,309 (1.666) (6273) 208.687 3.665.087 EXCESSIDEFICIENCY) OF REVENUES ANBOTIER RNrWCING SOURCES OVER EXPENDITURES AND OFFER FINANCING USES 3273,6W (2.490.028) (250,378) (J,360) (54,618) (32.692) 442,566 MND BALANCE AT BEGINNING DF YEAH 56,733 5,013.04 1,204.509 315.272 143410 16,900 6]49.998 FUNDBAINICEATENDOF YEAR 3,330,393 2,523,146 954,133 311,092 88,]92 85,792) 7,192,564 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PARTOF THIS STATEMMT. 68 City of Caps Girardeau, Missoun GENERAL CAPITAL IMPROVEMENT FUND STATEMENT OF REVENUES AND EXPENOITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Interest 5,000 19,943 14,843 TOTAL REVENUES 51000 19.843 14,843 .. EXPENDITURES Cur ent Capital outlay 50,000 23,912 26,088 Debt service Interest and flsml charges 0 137771 (137,PI) TOTAL EXPENDITURES 50,000 161.683 (111,683) EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (45,000) (141 840) (96.640) OTHER FINANCING SOURCES (USES) Tansfers in 0 0 0 Transfer out 0 0 0 Proceeds of deFa llnancing 0 3,415,500 3,415,500 Proceeds from fixed assets 0 0 0 TOTAL OTHER FINANCING SOURCES (USES) 0 3,415,500 3,415,500 r. EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND +� OTHER FINANCING USES (45.000) 3.273,660 3.318,Sed THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PARTOF THIS STATEMMT. 68 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 69 City of Cape Girardeau, Missouri CORP FLOOD CONTROL CAPITOL PROJECT FUND STATEMENT OF REVENUES AND EXPENORURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Interest 330,000 122,171 (207.829) Miscellaneous 0 30 30 TOTAL REVENUES 330.000 122.201 (207799) _ EXPENDITURES Current Capital outlay 1,800,000 2,606,599 (806,599) +e Ce[a se,,a Interest an0 fiscal charges 0 160 (160) TOTAL EXPENDITURES 1,800.000 2,606.759 (806759) EXCESS (DEFICIENCY) OF REVENUES OVER (CINDER) EXPENOITURES (1,470,0)0) (2,484,5581 (1.014,55e) OTHER FINANCING SOURCES (USES) Transfer in 0 3,557 3,857 Transfer out (5750) (9,327) (3,577) TOTAL OTHER FINANCING SOURCES (USES) (5750) (5,470) 280 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (1 4M _ X2.490.0281 (1.014.2781 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 69 se City of Cape Girardeau, Missouri STREET IMPROVEMENTS FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Irnemst 80.00 60.189 (19.811) TOTAL REVENUES 80.000 60,189 (19,811) EXPENDITURES Currerrt Capital oullay 1.849,000 364,674 1484,126 TOTAL EXPENDITURES 1,849,000 364,874 1,484,126 as EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,769 OW) (304,6851 1,464,315 OTHER FINANCING SOURCES (USES) Transfers m o 0 0 Transfer out (1.000) (779) 221 Spacial assessments 40,000 55.088 15,088 TOTAL OTHER FINANCING SOURCES (USES) 39.000 54,309 15.309 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (1]30.000) (2543]61 1.4]9624 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 70 City of Cape Girardeau, Missouri FAU STREET GRANTS FUND STATEMENT OF REVENUES AND EXPENDITURES — BUDGET (GAAP BASIS) AND ACTUAL FOR THE FISCALYF.AR ENDED JUNE 30, 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL FART OF THIS STATEMENT. iL VARIANCE FAVORABLE BUDGET _ACTUAL (UNFAVORABLE) REVENUES Intergovernmental 376,980 0 (376,980) losmat 14,400 13,194 _ (SNg TOTAL REVENUES 391,380 13,794 (377,586) EXPENDITURES Cerra t Capital ounaY 300,000 15.508 484492 TOTAL EXPENDITURES 500,000 15,508 484.492 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER} EXPENDITURES (108620) ___LI 714 106,906 OTHER FINANCING SOURCES ((1SES) Special aasessmems 5,084 5,084 0 Refund of groin revenue 0_ X6.7504 16.1501 TOTAL OTHER FINANCING SOURCES (USES) 5,084 {1,66bL (6750} EXCESS ¢3EFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ttO3,536} i3M 100 156 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL FART OF THIS STATEMENT. iL THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 72 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, 1993 VARIANCE r FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Intergovemmental 593,200 216,745 (376,455) Interest 1,775 2476 701 TOTAL REVENUES 594,975 219.221 (375,754) + EXPENDITURES Cur ert Capital outlay 880,300 266,621 613,679 Dein sernce Interest and fisral charges 0 945 (945) TOTAL EXPENDITURES 880,300 267,566 612,734 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (205,325) (48,345) 236,980 OTHER FINANCING SOURCES (USES) Transfersm 35,700 50,727 15,027 Ba0 debt no® recol ble 0 (57,000) (57,000) r TOTAL OTHER FINANCING SOURCES (USES) 357W (6273) (41,973) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDf URES AND OTHER FINANCING USES (2, (54618) 195.007 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 72 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 73 City of Cape Girardeau, Missouri PARK IMPROVEMENTS FUND STATEMENT OF REVENUES AND EXPENDITURES — BUOGET (GAAP BASIS) AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30, 1993 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVOHABLE) REVENUES Miscellaneous 0 0 0 Interest 2,000 269 (1,731) TOTAL REVENUES 2,400 269 (1,731) EXPENDITURES Curren Capital outlay 230,000 240,157 (10,157) Data so,. Interest and lis.icharg.s 0 1,491 (1,491) TOTAL EXPENDITURES 230,000 241.648 (11.648) EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (228,000) (24139) (13,379) r OTHER FINANCING SOURCES LASES) Trantas in 240,000 240,000 0 Transfers au[ (31,313) (31,313) 0 TOTAL OTHER FINANCING SOURCES (USES) 208,687 208.687 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (193131 (32.6921 (13.3791 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 73 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 74 City of Cape Girardeau, Missouri ENTERPRISE FUN BS COMBINING BALANCE SHEET June 30, 1993 Sewer Water Solid Waite Golf Co.,,, O1f114f1 Totals IMemare 6-30-9- 3 6_36_.42 ASSETS Cash and investments 365,084 472,271 ]1,693 0 0 909,046 ]4]68 Cash and investments-designaled 599,953 0 0 0 99.872 699.825 737 753 Until, shod,es receiveb le (net of alloxane a for doubtful receivables) 312.195 517.398 300,319 0 0 1,129.912 959.526 Grants receivab In 0 0 0 0 65,883 65,883 37,261 Special assessments receivable 48,284 0 0 0 0 48,284 41.666 Interest receivable 8,057 34,913 2.433 0 477 45,8!10 45,926 Other racaiebles 6,822 2,034 224 399 18.008 27.487 47,513 Inventories 0 163,674 0 3,198 0 166.872 30,303 Railroad! asset, 2.367,079 2,180,178 125,349 0 156,777 4,829,383 7,149,489 Prepaid expanses 134,279 168.274 10,670 0 29.993 343,216 391236 r 3.841,753 3.538,742 510.668 3.597 371,010 8,265,796 9.515,961 properly. Pbnt and equiPmenl Land 135,869 0 55.921 0 354,649 546,439 546439 Buildings 8,156,627 197.946 669,839 1,500 853,919 4679,831 9756.386 Improvements ONer buildings 14,061,321 8,528,654 10.796 327.139 3,959.939 26,987,849 26,607,631 Equipment 654.562 329,568 1,590.708 274.002 67,432 3.036.272 2,653,540 COnstmctun in progress 2,398.452 11.395 72,011 0 1,164,051 3,6,15909 758,321 25.406.831 9.167,563 2,499,275 602,641 6,419,990 44,096,300 40.322317 Less accumulated depreciation 7,421.414 293,820 1,307,817 274,238 2898.434 12.195,723 10908.574 17,985417 6.673.743 1.191958 328,403 3,521.556 41.900.577 29 413,743 21 827 170 12,412 485 1.702 146 332000 3.892,566 40.166.367 36,929 70a LIABILITIES AND FU NO EO U ITY Accounts payable 286.656 280.309 146.546 18,247 81,535 613.293 651940 Aaaued liabilities Salaries, payroll taxes and benefits 47,403 2.134 46,327 12,222 7,085 115,171 109,693 Interest payable 119,335 253.446 17 55. 0 22.056 412,395 334,299 Other liabilities 47,778 41,894 11,160 425 0 101,257 19,562 Oue to In., funds 0 0 0 12,04¢ 88,901 100,945 131,859 Oue to other governments 9.288 20.538 0 0 99,872 129,698 12,328 Advance from other funds 337,500 0 950.000 435,000 0 1,722.500 1,700,000 r Cunenl portion of long -Ism debt 335.141 25.000 110,345 0 50,000 520.486 580,628 Long-term debt net of currant portion Revenue bonds payable 3.620,000 11,705.521 0 0 0 15,325,521 15.391908 Lease purchase obligation payable 0 0 0 0 0 0 0 Lease purchase bonds payable 3.035,181 0 661,105 0 920,807 4,617.093 5,040,444 a Deferred revenue 0 0 0 0 579 578 578 Fund equity Contributed capital 4,822.138 44,302 0 0 933,835 5,800,275 4,630267 ex Retained earnings Reserved 18,667 0 0 0 0 16.667 15.000 Unreserved 9,150.083 39.339 (240.893) (145.938) 1587.897 10,490,486 10,298.158 Me 13,988,808 83.641 (240.89]) (145938) 2.621.732 16.307.430 14,947,425 2182].170 12 412.485 1.702 146 ]3000 3.892.566 40 166r367 38 929 704 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 74 r City of Cape Girardeau, Missouri ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES. EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE FISCAL YEAR ENDED JUNE 30, 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 75 TOTALS (MEMORANDUM ONLY( r SEWER WATER SOIIG WASTE GOIF COURSEI� Raj 1992-1993 OPERATING REVENUES r Reademialchagea 1,178,561 1,992,247 1,260,963 0 0 4435791 Commerce) changes 047,497 1,250,518 47,632 0 0 2.570647 Transfer station charges 0 0 375,149 0 0 375,149 Equipment sales 0 0 0 8,287 0 0,287 Cornarreen revenues 0 0 0 51,413 0 51.413 r Gol course fees 0 0 0 282,963 0 282,983 Other fees and charges 43,919 141,794 39771 0 15,045 240.529 Inlerdepmtni services 0 0 0 0 0 0 R.Mal mwnua 0 0 0 0 77.876 77.876 Danaliorn 0 0 0 0 0 0 se Other mizcellanumus 6,209 5.594 2304 14.637 5n 29.316 2076,185 3,390,153 2.154639 351520 93493 8,071991 r OPERATING EXPENSES PawnnN services 592.199 56,080 134486 163.032 213702 1759499 Materials and supplies 59.269 20,845 68.280 45,324 10,4M 204.206 Contractual services 261,821 1,826931 714,669 22.125 67,512 2.993057 General operating expenses 55,657 313707 55,519 42,155 6.027 473,065 r Special pr,sctaexpense 38,437 0 0 319 0 38.156 Internal service expenses 9301 21 264.425 51 10,797 305,019 Depreciatian.,am. 599243 271947 254.567 33 763 153,631 1,313,151 1,615927 2514,548 2,091946 362.177 462.157 1,046755 as OPERATING INCOME (LOSS) 460,259 875605 62,893 (4,857) (368.664) 1025236 NON-OPERATING REVENUE (EXPENSES) as Inlsrestm.are 191.879 130.295 12.555 162 18,584 353.416 Federal grants 0 0 0 0 165 066 165066 Issuance coat amortzation (11,341) (13,214) (3,130) 0 (2.142) (36.427) Interestand handling costs (520560) (772559) (84,910) (13.516) (83.637) (1(775.562) es (346,422) (655,478) (75484) (13.354) 97,271 (993 J67) INCOME (LOSS) BEFORE OTHER as FINANCING SOURCES (USES) 113,537 220,127 (12,591) (18,211) (271393) 31 769 OTHER FINANCING SOURCES (USES) Transfers in 0 0 0 0 1W.000 150000 Transfers cut 0 0 0 0 (3,657) (3 857) r Sales of fixed assets 2000 0 208 0 0 2.208 Compensation for damages 6,529 0 7846 0 0 13,875 8,529 0 7.554 0 146.143 162226 NET INCOME (LOW) 122366 220,127 (5 037) (18.211) (125.250) 180995 RETAINED EARNINGS (DEFICIT) AT 'r BEGINNING OF YEAR 9,044,384 (160788) (235,856) (127 3T7) 1.613.147 101 RETAINED EARNINGS (OEFICM AT END OF YEAR 9.166750 39339 1240893) 1145938) 1687897 10501155 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 75 + City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET June 30, 1993 Employees Data Fleet Fringe Risk Totals (Memorandum Only) Pro at. Management Benefit Man scam an 6-30-93 6-30-92 ASSETS Cash and investments 124,434 174,044 709,142 181,462 1,189,082 1,000268 + Cash and investments -designated 0 0 0 0 0 39 Interest receivable 0 0 1,762 1.538 3,300 4,160 Other receivables 0 32.948 60,766 3.900 97,614 10,966 Inventories 0 14,350 0 0 14,350 19.351 _ Prepaid expenses 53,175 840 0 67,391 121,406 44,077 Due from otherfunds 0 0 225,503 0 225,503 0 177,609 222,182 997,173 254,291 1,651,255 1,078,861 + Property, plant and equipment Land 0 37.500 0 0 37.500 37.500 Buildings 0 365,114 0 0 365,114 363,214 + Improvements Other buildings 0 ,26,850 0 0 26,850 23,714 Equipment 740,937 135,125 0 0 876.062 852.166 740,937 564,589 0 0 1,305,526 1,276,594 + Less accumulated depreciation 294,307 238,710 0 0 533,017 411,781 446.630 325.679 0 0 772,509 864.613 624.239 548,061 997.173 254291 2,423,764 1.943.674 .. LIABILITIES AND FUND EQUITY Accounts payable 10,886 49.300 128,129 587 186.902 170,894 Accrued liabilities r Salaries,payroll taxes and benefits 4,741 19,751 0 0 24,492 37,307 Other liabilities 0 40 0 0 40 39 Due to other funds 0 0 0 225,503 225,503 0 + Retained earnings Unreserved 608,612 478,970 869,044 28,201 1,984,827 1,735,434 r 624,239 548.061 997,173 254J291 2,423.764 1,943,674 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 76 as City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE FISCAL YEAR ENDED JUNE 30, 1993 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 77 TOTALS (MEMORANDUM ONLY) EMPLOYEES' DATA FLEE( FRINGE RISK PROCESSING MANAGEMENT BENEFIT MANAGEMENT 1992-1993 as OPERATING REVENUES Interdepartmental sevices 220.100 751,809 716,595 31,509 1,720.013 Other miscellaneWe 262 1 0 3,900 4,163 Interest income 2.666 3,615 29,808 1,085 37,174 223,028 755,425 746.403 36494 1,761,350 OPERATING EXPENSES Personnel services 43,947 321,305 0 0 365,252 Materials and suddies 4,959 253,488 0 0 258"7 ConVacdal se,ces 80,203 161,331 518,382 7,790 767,706 General operating emenses 272 877 0 0 1,149 as Internal service expenses 0 2.364 0 0 2.364 Depreciatlpn expense 96,254 25,024 0 0 121.278 225,635 764.389 518,382 7790 1,516,196 OPERATING INCOME (LOSS) (2,607) (6964) 228,021 28,704 245,154 NON-OPERATING REVENUES (EXPENSES) Interest and nandfing cosi 0 0 0 (503) (503) INCOME gLOSS) BEFORE OTHER as FINANCING SOURCES (USES) (2.607) (8.964) 226021 28,201 244,651 OTHER FINANCING SOURCES (USES) Transfers in 0 0 0 0 0 Tarsal out 0 0 0 0 0 as Sales Of find assets 0 142 0 0 142 Compensation for damages 0 4,599 0 0 4,599 Loss On asse[Tatle-in 0 0 0 0 0 0 4,741 0 0 4,741 NET INCOME (LOSS) (2,607) (4,223) 226021 28,201 249,392 RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 611,219 483,193 641,023 0 1,735,435 RETAINED EARNINGS (DEFICl AT as END OF YEAR 606,612 478,970 669,044 28201 1.984,027 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 77 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 78 City of Cape Girardeau, Missouri AGENCY FUNDS COMBINING BALANCE SHEET June 30, 1993 Arena Deferred Park Dev Totals (Memorandum Only) Improvement Compensation Foundation 6-30-93 6-30-92 ASSETS Cash and investments 42,055 692,606 0 734,661 534,071 Cash and rvestments—designated 0 0 4 4 Prepaid expenses 0 0 0 0 0 Total assets 42,055 692,606 4 734,665 534,071 LIABILITIES Accounts payable 221 0 0 221 1,055 Other Liabilities 41,834 0 4 41,838 30,079 Deferred compensation due employees 0 692,606 0 692,606 502.937 Total liabilities 42,055 692.606 4 734,665 53071 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 78 SINGLE AUDIT SECTION 79 Earley, Janssen, Begley & Company CERTIFIED PUBLIC ACCOUNTANTS - 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2845 FAX [3141334 =4338 PARTNERS JOHN R. JANSSEN, CPA KELVIN W. BIRK, CPA TERRY R. BEGLEY, CPA LAWRENCE E. YOUNG, CPA JENNIFER WESTRICH INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri we have audited the general purpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1993, and have issued our report thereon dated October 29, 1993. These general purpose financial statements are the responsibility of City of Cape Girardeau, Missouri's management. our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government 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 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Our audit was conducted for the purpose of forming an opinion on — the general purpose financial statements of the City of Cape Girardeau, Missouri taken as a whole. The accompanying schedule of federal financial assistance is presented for purposes of additional analysis and is not a required part of the general purpose financial statements. The information in that schedule has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. Cape Girardeau, Missouri October 29, 1993 80 I 1 1 I i i 1 1 1 1 1 1 1 I 1 f I i I City of Cape Girardeau, Missouri SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE June 30, 1993 Federal Program CFDA or Auard Balance Revenue Dlsboreements/ Balance Federal Grantor/Pass-Through Grantor/Title Number Amount June 30 1992 Recognized Expenditures June 30 1993 Major Programs: Department of Defense U.S. Army Corps of Engineers Flood Control Project 12.106 8 - S(3,853,680) $ $2,606,59 $16,460,278) Total U.S. Department of Defense (3,853,680) 2,606.598 (6,460,278) Department of Housing and Urban Development Passed through Missouri Department of Economic Development Community Development Block Grant On 91 -ND -04 14.219 340,000 ( 84,779) 153,247 202,562 ( 134,094) r 92 -ND -16 14.219 460,000 264,632 707,891 ( 443,259) Total HUD - Major Programs ( 84,779) 417.879 910.453 ( 557.353) Department of Transportation Federal Aviation Administration Airport Improvement Program 3-29-0013-04 20.106 428,000 ( 57,175) 30,667 34,074 ( 60,582) Airport Improvement Program 3-29-0013-05 20.106 428,499 ( 58,411) 345.449 888.044 ( 601.006) Total Department of Transportation - Major Programs ( 115,586) 376.116 922.118 ( 661,588) Total - Major Programs (4,054,045) 793,995 4,439,169 (7,699,219) Nor -Major Programs - Department of Housing and Urban Development Passed through Missouri Department of Economic Development Community Development Block Grant Rental Rehab R91 -SG -29-0103 14.230 171,070 - 28,366 33,038 ( 4,672) Passed through Missouri Department of Social Services Emergency Shelter Grant 14.231 5,500 5,500 5.500 - Total HUD - Nom Major Programs 33,866 38.538 ( 4,672) 1 f 1 1 i 1 1 f 1 1 1 1 1 1 1 1 1 1 1 City of Cape Girardeau, Missouri SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE June 30, 1993 Federal Program CFDAo r Award Balance Revenue Disbursements/ Balance Federal Granmr/Pa SR-ThrpUgh Grantor/T-He Number Amount June 30 1992 Recognized Expenditures June 30, 1993 Department of Transportation Federal Aviation Administration Air Traffic Services - 401,610 - 165,066 165,066 - Passed through Missouri Department of Public Safety Cape Girardeau County Community Traffic Safety Program (FY192) 20.600 94,059 ( 14,003) 31,909 37,969 (20,063) Cape Girardeau County Community Traffic Safety Program (FY'93) 20.600 89,930 - 58,992 85,839 (26,847) Passed Through the Missouri Highway and Transportation Department Public Taxi Coupon Transportation Program MO-18-X011-4CG 20.509 70,845 ( 1,666) 70,845 208,230 (139,051) MO-18-X013-4CG 20.509 72,861 - - 1,024 ( 1,024) Transit Study 20.507 20,000 ( 297 1809 23.512 ( 5,000) Da N Total U.S. Department of Transportation Non -Major Programs (15,966) 345,621 521.640 (191,985) Department of Justice Passed through Missouri Department of Public Safety victims of crime Act (FY -92) 16.575 6,000 ( 750) 2,858 3,523 (1,415) Victims of Crime Act (FY -93) 16.575 5,714 - .768 4,539 ( 771) Total U.S. Department of Justice ( 750) 6_626 ,062 (2,186) Department of Education Passed through Missouri Department of Education Passed through Cape Girardeau Public Schools Drug Free Schools Program 84.186 6,000 - 6,000 6,487 ( 487) Passed through Missouri State Library Duplicator 84.034A 6,746 - 6,746 6,846 ( 100) Teteconmuni cations Devise For The Deaf 84.034A 400 400 587 ( 187) Total Department of Education 13,14 13,920 ( 774) Department of the Interior Geological Survey Joint Funding Grants Stormwater and Lara 111 (FY -93) - - 10.000 (10,000) Total U.S. Department of Interior 10.000 (10.000) TOTAL FEDERAL FINANCIAL ASSISTANCE ( 4.070 761) 1.193.254 5,031 329 (7.908.836) Earley, Janssen, Begley & Company CERTIFIED PUBLIC ACCOUNTANTS + 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 3342845 FAX 13141334-4338 + PARTNERS JOHN R. JANSSEN. CPA KELVIN W, BIRK, CPA TERRY R. BEGLEY. CPA LAWRENCE E. YOUNG, CPA JENNIFER WESTRICH INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri We have audited the general purpose financial statements of the City of Cape Girardeau, Missouri as of and for the year ended June 30, 1993, and have issued our report thereon dated October 29, 1993. 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 performed tests of the City's compliance with certain provisions of laws, regulations, contracts, and grants. However, the objective of our audit of the general purpose financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. The results of our tests indicate that, with respect to the items tested, the City of Cape Girardeau, Missouri, complied, in all material respects, with the provisions referred to in the preceding paragraph. with respect to items not tested, nothing came to our attention that caused us to believe that the City had not complied, in all material respects, with those provisions. This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which is a matter of public record. Cape >_ rdeau, isa url 83 October 29, 1993 Earley, Janssen, Begley & Company CERTIFIED PUBLIC ACCOUNTANTS + 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2045 FAX X314( 334 =4338 PARTNERS JOHN R. JANSSEN, CPA KELVIN W. BIRK. CPA TERRY R. BEGLEY, CPA LAWRENCE E. YOUNG. CPA JENNIFER WESTRICH INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO MAJOR AND NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri We have audited the general purpose financial statemens of the City of Cape Girardeu, Missouri as of and for the year ended June 30, 1993, and have issued our report thereon dated October 29, 1993. We have applied procedures to test the City of Cape Girardeau, Missouri's compliance with the following requirements applicable to its federal financial assistance programs, which are identified in the schedule of federal financial assistance, for the year ended June 30, 1993: political activity, Davis -Bacon Act, 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, 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 second 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 audit procedures did not disclose any immaterial instances of noncompliance with those requirements. This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which is a matter of public record. 11 Cape Girardeau, Missouri October 29, 1993 84 Earley, Janssen, Begley & Company CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314)334-2845 FAX 1314( 334=4338 PARTNERS JOHN R. JANSSEN, CPA KELVIN W. BIRK, CPA TERRY R. BEGLEY. CPA LAWRENCE E. YOUNG, CPA JENNIFER WESTRICH 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 general purpose financial statements of the City of Cape Girardeau, Missouri as of and for the year ended June 30, 1993, and have issued our report thereon dated October 29, 1993. We have also audited the City of Cape Girardeau, Missouri's compliance with the requirements governing types of services allowed or unallowed; eligibility; matching, level of effort, or earmarking; reporting; various special tests and provisions; 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, 1993. The management of the City of Cape Girardeau, Missouri, is responsible for the City of Cape Girardeau, Missouri's, compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and OMB Circular A-128, Audits of State and Local Governments. Those standards and 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 material respects, with the requirements governing types of services allowed or unallowed; eligibility; matching, level of effort, or earmarking; reporting; various special tests and provisions; claims for advances and reimbursements; and amounts 85 INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED claimed or used for matching that are applicable to each of its major federal financial assistance programs for the year ended June 30, 1993. This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which is a matterr� of public record. &�44 9 , Cape Girardeau, Missouri October 29, 1993 86 Earley, Janssen, Begley & CoLnpany CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE 014) 3342845 FAX [3141334 =4338 PARTNERS JOHN R. JANSSEN. CPA NELVIN W. BIRK, CPA TERRY R. BEGLEY, CPA LAWRENCE E. YOUNG, CPA JENNIFER WESTRICH 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, 1993, and have issued our report thereon dated October 29, 1993. In connection with our audit of the 1993 general purpose financial statements of the City of Cape Girardeau, Missouri, and with our ^ consideration of the City of Cape Girardeau, Missouri's internal control structure used to administer federal financial assistance programs, as required by office of Management and Budget Circular A-128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor federal financial assistance programs for the year ended June 30, 1993. As required by OMB Circular A-128, we have performed auditing procedures to test compliance with the requirements governing types of services allowed or unallowed; eligibility; 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 the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this repor�t�T, which is amatter of p ublic record. 1A41a//i4QT 4,7w Cape Girardeau, Missouri October 29, 1993 87 Earley, Janssen, Begley & Company CERTIFIED PUBLIC ACCOUNTANTS 2103 THEM)$ ST. . CAPE GIRARDEAU, MISSOURI 63101 - TELEPHONE (314) 330.2$45 FAX 13141 334 =4388 PARTNERS JOHN R. JANSSEN, CPA KELVIN W. BIRK, CPA FERRY H. BEGLEY, CPA LAWRENCE E YOUNG. CPA JENNIFER WESTACH INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL. STATEMENT AUDIT CONDUCTED IN >r 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 for the year ended June 30, 1993,. .. and have issued our report thereon dated October 29, 1993. 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, 1993, 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. T 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 a 1m 0 0 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED 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. For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories. General Petty cash Bank accounts Cash receipts Cash disbursements Investments Revenues and receivables Property and equipment Purchasing, receiving and accounts payable Payrolls Budget Electronic data processing For all of the control categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. we noted certain 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 judgement, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. 89 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED Reportable Conditions Utility Billing Changes There was a lack of proper controls and analytical procedures (projections or estimates of the appropriate amount) concerning the annual changes made in the residential sewer billings. Because of this, 350-40% of the residential sewer customers' billings were not increased in August, 1992 when a substantial rate increase became effective, and the error was not promptly identified. The cause of the problem was a programming error in the software that performed the billing updating procedure. The result of the condition is that $85,000 to $100,000 of residential sewer revenue was not billed and therefore never received. This condition has rectified itself in that the procedure for updating the utility billing changes is different now than last year when the problem occurred. A new program is now being used to perform the billing updating procedure. More importantly, City personnel are now reviewing each customer's new billing rate when made with more scrutiny. Also, analytical procedures are being applied in order to more accurately estimate the appropriate amount of revenue that should be billed each month. It should be noted that the billing changes made in August, 1993 were thoroughly checked by City personnel and no errors were found in the changes made. We have no further recommendations other than the ones that the City personnel have already put in operation, namely the close scrutiny of changes made and the application of analytical procedures intended to promptly discover any errors. Water System Inventory The water system inventory is owned by the City but is maintained by an outside contractor. The outside contractor is obligated to maintain the inventory level that existed when it began operations in the event that the City assumes management of the water system. Currently, the City does not receive any reports from the outside contractor relative to the up-to-date inventory levels. A problem is created in that the City does not know whether its current supplies expense is entirely accurate because it is not known whether the inventory level has been increased or decreased. Also, it is not known whether the inventory level shown on the financial statements is entirely accurate. We recommend, at a minimum, that the outside contractor be required to provide City personnel with detailed documentation of inventory counts as of each June 30 and that City personnel have access to the actual inventory and authority to spot-check the outside contractor's records. Ideally, the outside contractor should maintain a computerized, perpetual M INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED inventory system to account for the water system inventory. Furthermore, City personnel should be provided with detail of current inventory levels on a monthly basis and City personnel should spot-check the outside contractor's records on at least an annual basis. A material weakness is a reportable condition in which the design or operation of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amount 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. .. 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. However, we believe none of the reportable conditions described above is a material weakness. This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which is a matter of public record. Cape Girardeau, Missouri .. October 29. 1993 91 Earley, Janssen, Begley & CoUnpany CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2845 FAX (314( 334=4338 PARTNERS JOHN R. JANSSEN. CPA KELVIN W. BIRK, CPA TERRY R. BEGLEY, CPA LAWRENCE E. YOUNG, CPA JENNIFER WESTRICH INDEPENDENT AUDITORS' REPORT ON THE INTERNAL 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, for the year ended June 30, 1993, and have issued our report thereon dated October 29, 1993. 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 October 29, 1993. We conducted our audits in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and office of Management and Budget (OMB) Circular A-128, Audits of State and Local Governments. Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the City of Cape Girardeau, Missouri, complied with laws and regulations, noncompliance with which would be material to a major federal financial assistance program. In planning and performing our audits for the year ended June 30, 1993, 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 to report on the internal control structure in accordance with OMB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated October 29, 1993. The management of 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 92 INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with managements's authorization and recorded properly to 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 and procedures may deteriorate. 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: Accounting Applications Billings Receivables Cash receipts Purchasing and receiving Accounts payables Cash Disbursements Payroll General Requirements Political activity Davis -Bacon Act Civil rights Relocation assistance and real property acquisition Federal financial reports Allowable costs/cost principles Drug-free workplace Administrative requirements Specific Requirements Types of services Eligibility Matching, level of effort, and earmarking Reporting Special tests and Provisions 93 INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED 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, 1993, the City of Cape Girardeau, Missouri, expended 880 of its total federal financial assistance under major federal financial assistance programs. We performed tests of controls, as required by OMB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with specific requirements, general requirements, and requirements governing claims for advances and reimbursements and amounts claimed or used for matching that are applicable to each of the City's major federal financial assistance programs, which are identified in the accompanying schedule of federal financial assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. Our consideration of the internal control structure policies and procedures used in administering federal financial assistance would not necessarily disclose all matters in the internal control structure that constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a 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 noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. 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 October 29, 1993. 94 INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which is ;aa matter of public record. Cape Girardeau, Missouri October 29. 1993 95