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Home My WebLink About1993-1994.AuditReportFINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT CITY OF GAPE GIRARDEAU, MISSOURI June 30, 1994 CONTENTS + FINANCIAL SECTION Page Independent Auditors' Report 7 GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types And Account Groups 10 Combined Statement of Revenues, Expenditures And Changes in Fund Balance - All Governmental Fund Types 12 Combined Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (Budget Basis) - General and Special Revenue Fund Types 13 Combined Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (Budget Basis) - Debt Service and Capital Projects Fund Types 14 Combined Statement of Revenues, Expenses and Changes in Retained Earnings, All Proprietary Fund Types 15 Combined Statement of Cash Flows - All Proprietary Fund Types 16 Notes to Financial Statements 17 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS 55 GENERAL FUND Comparative Balance Sheet 56 Statement of Revenues and Expenditures - Budget and Actual (Budget Basis) 57 SPECIAL REVENUE FUNDS y Combining Balance Sheet 58 Combining Statement of Revenues, Expenditures and Changes in Fund Balance 59 Convention/Tourism Special Revenue Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 60 CONTENTS - CONTINUED + SPECIAL REVENUE FUNDS - Continued Airport Special Revenue Fund - + Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 61 ,. Downtown Business District Special Revenue Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 62 + Parks and Recreation Special Revenue Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 63 Health Special Revenue Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 64 + Motor Fuel Tax Special Revenue Fund - Schedule of Revenues and Expenditures - '� Budget and Actual (Budget Basis) 65 Capital Improvements Sales Tax Special Revenue Fund - + Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 66 Flood Protection Special Revenue Fund - + Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 67 + Vision 2000 Special Revenue Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 68 + DEBT SERVICE FUND Debt Service Fund - Comparative Balance Sheet 69 + CAPITAL PROJECTS FUND Combining Balance Sheet 70 Combining Statement of Revenues, Expenditures and Changes in Fund Balance 71 General Capital Improvement Fund - Schedule of Revenues and Expenditures - + Budget and Actual (Budget Basis) 72 CONTENTS - CONTINUED CAPITAL PROJECTS FUND r Corp Flood Control Capital Project Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 73 Street Improvements Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 74 FAU Street Grants Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 75 Community Development Block Grant Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 76 .� Park Improvements Fund - Schedule of Revenues and Expenditures - Budget and Actual (Budget Basis) 77 ENTERPRISE FUNDS Combining Balance Sheet 78 Combining Statement of Revenues, Expenses and Changes in Retained Earnings 79 Combining Statement of Cash Flows 80 Sewer Fund " Schedule of Revenues and Expenses - Budget and Actual (Budget Basis) 81 Water Fund Schedule of Revenues and Expenses - Budget and Actual (Budget Basis) 82 Solid Waste Fund Schedule of Revenues and Expenses - Budget and Actual (Budget Basis) 83 Golf Course Fund Schedule of Revenues and Expenses - Budget and Actual (Budget Basis) 84 CONTENTS - CONTINUED INTERNAL SERVICE FUNDS Combining Balance Sheet 85 Combining Statement of Revenues, Expenses „ and Changes in Retained Earnings 86 Combining Statement of Cash Flows 87 Data Processing Fund Schedule of Revenues and Expenses - Budget and Actual (Budget Basis) 88 + Fleet Management Fund Schedule of Revenues and Expenses - Budget and Actual (Budget Basis) 89 Employees' Fringe Benefit Fund Schedule of Revenues and Expenses - " Budget and Actual (Budget Basis) 90 AGENCY FUNDS Combining Balance Sheet 91 Library Agency Fund Statement of Changes in Assets and Liabilities 92 Arena Improvement Agency Fund Statement of Changes in Assets and Liabilities 93 Deferred Compensation Agency Fund Statement of Changes in Assets and Liabilities 94 y Park Development Foundation Agency Fund Statement of Changes in Assets and Liabilities 95 FIXED ASSETS Schedule of General Fixed Assets by Source 96 Schedule of General Fixed Assets - By Function and Activity 97 Schedule of Changes in General Fixed Assets - By Function and Activity 98 + CONTENTS - CONTINUED LONG-TERM DEBT + Schedule of Changes in Long -Term Debt 99 Schedule of General Long -Term Debt 100 SINGLE AUDIT SECTION 101 + Independent Auditors' Report on Schedule of Federal Financial Assistance 102 Schedule of Federal Financial Assistance 103 independent Auditors' Report on Internal Control e-truc=ure Related Matters Noted in a Financial + Statement Audit Conducted in Accordance with Goverment Auditing Standards 105 Independent Auditors' Report on Compliance With + Laws and Regulations Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 108 Independent Auditors' Report on The Internal Control Structure Used in Administering Federal + Financial Assistance Programs 109 Independent Auditors' Report on Compliance With the General Requirements Applicable to + Major and Nonmajor Federal Financial Assistance Programs 113 + Independent Auditors' Report on Compliance With Specific Requirements Applicable to Major Federal Financial Assistance Programs 114 + Independent Auditors' Report on Compliance With Specific Requirements Applicable to NonMajor Federal Financial Assistance Programs Transactions 116 Begley, Janssen, Young & Birk CERTIFIED PUBLIC ACOUNTANTS 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2845 - FAX (314) 334-4338 PARTNERS JOHN R. JANSSEN, CPA JENNIFER WESTRICH TERRY R. BEGLEY, CPA GRADY S. MARTIN LAWRENCE E. YOUNG, CPA KELVIN W. BIRK, CPA INDEPENDENT AUDITORS' REPORT ON THE GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION 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, 1994, 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, Government Auditina 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. 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 above present fairly, in all material respects, the financial position of the City of Cape Girardeau, Missouri as of June 30, 1994, 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. As discussed in Note Al to the financial statements, the Library Fund was changed from a Special Revenue Fund to an Agency Fund for the June 30, 1994 financial statements due to the application of Governmental Accounting Standards Board No. 14. Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri Page 2 Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining, individual fund and account group financial statements and schedules 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 19, 1994 E GENERAL PURPOSE FINANCIAL STATEMENTS I 1 1 1 1 1 1 1 1 1 i 1 f 1 1 f 1 1 1 Clly of Cxpe Girardeau, Mleemtl COMBINED H,LL.wCE SNEEI NI FUND TMES AN AGG011N1 GIgIIPS Juna 3D. ITN Fldlriry GOVernmental Fund Typva PmpL_M_auntl Tyo Punct Tyrd Account Groupe Genael Genael Qpnew Debt Cepial IrRaral Foo -d Lw19-Tem_ 1gy6 QdernwwMm OnNj LPJ)QHI HflYB➢LL9 56YIGe P OSU, ESNMI.SPdfif.0 Aamov A550L9 _RObI- &-11=.49 6-a -g ASSETS ANO OF HE OE HITS 4594a: MwaM1 equ'vaHnU 52323,789 54]4842 5169,117 $J]19.852 $1.3]3,12 5045,695 $HO,1W $- E- $11644,198 $14,5W 1 Invere - LB6,159 9.560.9]9 -9]].111 1pl],6i8 $122823] t,W],91] - - 18,338OiI 1459]]50 Ro-Nab. Peoavfulb rrM of ellovarcasfor dorriRFeel l l recelwbl ne Peal eelale, persorel prryarry, mercFeMa Rxea 48,152 ],911 1(65J - - - 22121 - - 911]03 113,007 See. t 4]8,666 119,911 - - - - - - - 598,57] 5WA89 F..Ie 1.191,516 _ _ _ _ _ _ _ 112401 IN.F24 1,12.624 Hot.l blW Hae1-moral. receirvede - 29,818 - - - - - - 29,016 26.361 Pmteuram arx re<eNede - 40,01e - - - - - - - 00,018 3], WB IRA,S'.c - - - 1137.419 - - - - I, 129,460 1,129,912 l.ee. .ri . recelade 04258 0. 3'34,593 1®,13] . 390]9 - - - - ]2196] ]M Foo...NuNenls Inmresi racalnda 2$608 30,115 3-539 31- 39,42] 14 U32 1,C62 - - 181,968 162 &5.162 4A603 ]4161 - - 69.995 1],8'JO lYl - - 1]5,808 325,250 Wel le..bles Wel - - - 14130 - - - - - 18130 20.163 IraomarRanon l receiredea Malartu<Ipx MoWr - 69,]]9 - - - - - - - 69,379 55.419 lkanse l®a - A269 13.269 IJlfitl M.Wrvebkle Motmvatlldrobl. ptx - 18.860 - - - - - - - mo 15,934 Gents recewfun 2039 31,817 - 129 ,060 - - - - - 992301. 86,230 365.921 Due from ds 29,]]6 - - - - - - - - 2W,P6 J@.452 4Metwa3o ofM1erluMs to Fbe, 1,N7,500 1,1&1.`652 1,la".1 13] 156604 ]921 161.W2 101,]5) I Ruoe.d Caro anassets Caro and m6n oquNelents - 2817.101 - - - 2,B11,101 2404,5'0 maaMeMa 1E63,Y7 1,x]56] 24%SoI 508]9 10,432 - - J64.WI 111.050 ],821 - - 561,186 ib.C91 FRe,ld ixednmrymees Fir, e5595, _tel of eccunulaletl lbQetletlg0 2q]5],]]2 791,]]8 - 10.451,750 - J993],300 34509,148 O deWte An ourlt oAilvde in Debt Senue F3aM - - - - - - - - 9767, 19J 9,]61.195 9)801]5 Amount la be prodtlad for letiranent ol8erwrel lorg-lar. debt - - - - - - - - 18,260,661 18,260661 10701910 Arnount to be provided for "um payment of can penrood ebsemas - 491531 4915_]1 452,69] T.I. endother tlablla $6222459 $1,633606 $10232841 $]9y86,403 $37,448,460 32556234 $1269]53 S10A51]50 S26.519387 SI071330973 $1019JJ.247 (CONfINOED) THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PAPIOF 1146 STATEMENT. I 1 1 1 1 1 1 1 1 1 1 i 1 1 1 i 1 1 1 City of Cope GVwdmu, Mlssavl COMBINED BAIAMCE SHEET PLL FUND TYPES AND ACCOUNT GROUPS J.30 1994 THE NOTES TOTHE FINANCIAL STATEMENTS ARE AN INFEGRAL PART OFTHS STATEMENT. Flduca, Gore. -W Fu Typm Pr,gFund Typea Fund Ty, Pcwunt Grogs Gereal Genual Gail Specht RNven oel% Capital internal•vY�� Flaed Long -Term Tota a rMemumnn m anm LIABILITIES, EQUITY AND OTHER CREDITS B _ GRIM, 1@521. Laida 62 a`e91bm_ �Y SSL' 6-30-9`1 6-30-93 ffiitiee: Pcmui pap6la $d•0,'Yl6 $%,469 $- 5'2&9.809 $814,361 &TA,053 $1655] $- S- S1,864,477 $1415,519 Acduad ebililba l SMuie,,bltll laNm and benellls 220.992 46215 - - 112.084 25945 )250 - 491,531 9ID,]1] 848,532 - - - - 353063 - - - - 353963 421800 Od Iiabayebb O s 40,931 169 - 9,912 1362]8 42 217,538 - - 434950 3%.182 to Aher PR tO~fundemmall5 9,�0 - - 1,0.b 12-904 9$858 228952 141,932 Due to oNafln - ]q]95 - iR,982 250,))] 3¢,452 - - - - 1]22500 - ]5,000 - - 129],519 1297,530 CondFAHMOOnrlunda Coned potion of lap -lama debt 7Z 761 12651,550 13381,319 1 EYIO,NO Inrp-teR11 dad rel Of cunall portion F, flw Me pe - - - - 15,657244 - - - - 1569211 15325$21 Iee I oldl bon L., mtwldrevame LOMapayvble - - - - 3.Z0.955 - - - 11,022.640 15081,605 13,125005 Ceta , . 355000 Gnobiplbboonle s 3215,190 GeO 0 reunding Gondseyaole _ _ _ _ _ _ _ _ _ _ ]2]O COO EsSrated bnlllll do sore and pod- tla9 V e -4 libi. _ _ _ _ 2,13222] - _ _ _ 2.132.22] - Defdra]cLlnpen5etlontlleamp'oyees - - - - - - 931,051 - - 901.051 692606 Debrt i waenuea 914,024 181.352 165.646 1!3.056 20.357 _ 1.]]0,135 135]29 Toil bbiiE 1,481,615 381,193 465616 668,789 25,0]5,08] 385,040 1,ffi ,M - 24519,397 5329,317 53265286 Equity epi oder dr d . Nveetm eM In B. dM M. d a55et5 - - - - - - - 10451250 - 1Q451I50 9,35],618 Cor2rWlal da ftal - - - - 15,151561 - - - - 15151561 14 575,528 P lzlnedeanln, R-ory 25OW 25019 16.667 unne,.w _ _ _ _ (2803188) 2180,194 _ _ _ (6Y2.994) 1978,330 Fund Belem Raznow 2051,796 21,109 9,)6).195 6,906334 - - - - - 14 T49,734 1,224,585 Un. 2,](18048 2,2312]] 411280 5318,635 6.412.233 Topl al Wyenol Wla aedila 47 844 2252506 9M7 195 7.317,614 123]33]3 22,180194 10451763 4910.3656 48661961 TOW fabllidon acuRy endd r aodita $6222.659 $'1633666130232,841 55)79M_103 jN448460 E25552W §IM 75353 $10451]50 $?d 51938] $10]33]9]3 S10193124] THE NOTES TOTHE FINANCIAL STATEMENTS ARE AN INFEGRAL PART OFTHS STATEMENT. City of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES, EXPENDITURES AND + CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 GOVERNMENTAL FUND TYPES TOTALS SPECIAL DEBT CAPITAL (MEMORANDUM GENERAL REVENUE SERVICE PROJECTS ONLY) + REVENUES Texas $8,984,860 $2,331,314 $Z78,713 $- $11,594,887 Licenses and permits 741,703 - - - 741,703 + Intergwernmentsi 491,070 1,210,324 8,328 723,692 2,433,414 Charges forservices 281.411 276.200 - - 557,611 Interdepartmental sernces 461.434 - - - 461.434 Fines and fodedures 577.296 - - - 577,2% + Miscellaneous 119,366 125,333 - 21,0.16 265,745 Interest 12'182 101,598 543,399 331,994 1,097,173 TOTAL REVENUES 11,T77, 322 4,044,769 8W,440 1,076732 17,TJ9,264 EXPENDITURES Current .. Administrative sari 1,152,806 - - - 1,152,806 Development services 1,041¢13 310,088 - - 1,351,301 Parke and recreation 816,446 661,083 - - 1,477,529 Public safety 6,005,284 112,075 - - 6,117,359 Public works 1,351,523 553,541 - - 1,905,064 + Contingency 232,876 - - - 232,876 Capital owlay - - - 3,0&5,134 3,085,134 Debt service Principal - - 1,871,485 - 1,871,485 as Interest and fiscal charges 11133 6.920 1,919,920 98,398 2,026,371 TOTAL EXPENDITURES 10,601.281 1,643,707 3,791,405 3,183,532 19,219,925 as EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1,176,041 2,401,061 8.960,965) R, 106800) (1,490,661) OTHER FINANCING SOURCES (USES) + Opemtingtransfers in 1,907,083 547,500 2,221,989 945,543 5,671,115 Opemtingtransfers out (2,268,816) (J,300,499) - (1,308,348) (6,877,663) Compensationfor damages 34,800 - - - 34,800 Proceeds from fixed assets 142 - - 78,150 78,292 + Spacial aaaaeamenta 1,335 - 126,620 52,715 182,180 Proceeds of debt firen cing - - 265,500 2,389.500 2,655,000 Gal n o n sale of securXiee - 2,801 8,535 2,292 11,628 Proceeds of refunding bonds - - ],645,934 - 7,845,934 a Paymem to refunded bcrM..crow agent (/,600,109) (7,60'109) TOTAL OTHER FINANCING SOURCES (USES) TJ25456) 8,750,198) 2,868,474 2,159.362 1,952,182 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 89J,585 (349,137) 192,491) 52,562 461,521 FUND BALANCE AT BEGINNING OF YEAR 3,910,259 27&5,219 9,768,176 7,192,564 23,656,218 RESIDUAL EOUITYTRANSFERS IN - 5,371) 91,510 72,488 155,627 + RESIDUAL EOUITYTRANSFERS OUT - 175,025 (175025) FUND BALANCE AT END OF YEAR $4.760,844 $2,252,686 $9.767185 8],317614 $24.098 341 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PARTOFTHIS STATEMENT. 12 at, of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGET BASIS) - GENERALAND SPECIAL REVENUE FUND TYPES FOR THE FISCAL YEAR ENDED JUNE W. 1991 GENERAL FUND SPECIAL REVENUE FUNDS VARIANCE VARIANCE FAVORABLE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) BU1jG ACTUA (UNFAVORABLE) THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PARR OF THIS STATEMENT. 13 REVENUES Taxes S8.764,809 $8,984,860 $220,051 $2156.055 $2331,314 $175259 U... and permits 755,404 741,703 (14,701) - - - Intergovammwtal 1961%X1 491,070 296,070 1,301,830 1,210,324 (91,476) Charges fcrs N.. 2]0,080 281,411 11,411 mL 276,288 14,700 Intardepertnental services 430,]39 661.436 30.695 Fines and brleilures 56,000 5]],296 12296 - - - ,� Miscalarews 54000 119,36 69,36 117,100 125,333 8,233 Interest 66,300 12,182 33882 62208 101,598 39,398 TOTALREVENUES 11,118252 ll,M,39 6U30]0 38M S56 4,044,769 14 114 y EXPENDITURES Current Adm'nlatratHe services 1,199,636 1,152,606 46,832 3,000 Ds+elowent aarvicea 1,155,478 1,091,96 114,182 338,250 313,286 16,964 Parka and recreation 912,365 816,401 93,984 62,706 661,737 (36031) Pudic safety 6,102035 6,044,501 5],534 124,971 112,600 12371 Pudic works 1,475,660 1,421,359 54,306 853,539 58],482 293,071 Contngwcy 203,570 232876 (9,306) - - a Debt service Pmcipel - - - - - - Interestandfiscalcherges - 1,133 1,133 - 6920 (6920) o TOTAL EXPENDITURES 11,048,766 10,712,367 336399 1,938,466 1,655,005 283,461 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 69,486 1,064,955 995,69 1,960,189 2389,]63 49,575 OTHER FINANCING SOURCES (USES) Operating trendere in 1,907,083 1,907,083 - 547,500 547,500 - Operating tranafaraout (2,253,271) (2$68,816) (16545) (3,370,499) (3,304499) 70,000 Compensation for damages - N'tmxl 34,800 - - - Proceeds from lured assets 7,500 142 (1,366) - - - Gainonsebofsecuridea - - - - 2,801 2,801 Special aeeesanents 1,335 11336 TOTAL OTHER FINANCING SOURCES (334688) )326456) 131232 21=999 (2,754196) 72801 (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVEN EXPENDITURES AND OTHER FINANCING USES (269,202) 733,499 1,008,]01 (862810) (360,435) 5@,376 FUND BALANCE AT BEGINNING OF YEAR 3,910,259 3,910,29 - 2785,219 27&5,219 - RESIDUALE0UHYTRANSFERSIN - - - (8,371) (8,371) - RESIDUAL EQUITY TRANSFERS OUT - - - 17$02 (176025) .ur FUND BALANCE AT END OF YEAR 53.641,057 54.649,758 $1,008,]01 $1,739,013 $2241,388 $502.376 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PARR OF THIS STATEMENT. 13 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 14 City of Caps Girardeau, Missouri r COMBINED STATEMENFOF REVENUES, EXPENDfTURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGET BASIS) - DEBT SERVICE AND CAPITAL PROJECTS FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 39 1991 DEBT SERVICE FUND CAPITAL PROJECTS FUNDS r VARIANCE VARIANCE BUDGET ACTUAL FAVORABLE PJNFAYQBABLE) BUDGET ACTUAL FAVORABLE (UNFAVORABLE) REVENUES r Taxes $248,300 $98,713 $39413 $- $- $- Intergo mmtd 8,000 8,328 326 921.664 723,692 (197,972) Miscelaneous - - - - 21,046 21,046 Interest 365,237 543,399 1]$162 199000 331,994 135,994 TOTALREVENUES 621537 830,440 206.903 1_117,664 1,076,702 (4Q932) EXPENDITURES CeP4d oulle/ - - - 7,551.914 3,633,246 3,918,728 Debt service Pmcipal 1,659,500 1,871,485 (211,985) - - - Interestandfi.alcher0es 1.512.AJ0 1,919920 407.630 1.000 98,398 (97,398) r TOTAL EXPENDITURES 3.171790 3,]91,405 619615 7,552,9]4 3731,644 3821,330 EXCESS (DEFICIENCY) OF REVENUES r OVER (UNDER) EXPENDITURES (2,550253) (2,989985) 410.712)6( 43$310) (2,654.912) 3789398 OTHER FINANCING SOURCES (USES) OW,t sferain 2,229722 2221,989 1,2671,000,000 995,593 (54,457) Opare5n9Landeraout - - - (1,307,083) (1,308,348) (126,5) r Spe easeasmmts 110,000 129620 Iff.fm 585,000 52225 (532,715) Prot .fcieafnan<n9 - 265,500 255,500 - z389,5 2,38.9,500 Proceed; %m Toed asw% - - - - 7&150 7&150 Gain on sale of sea Mlea - ff, 5 6,535 - z292 z292 + Proceeds of reLndng ban d - 7,845,934 7,845,934 - - - Pey..tb.t oed ban d enio. agent - 17,600,104) n600.+09) - TOTAL OTHER FINANCING SOURCES + (USES] 2339722 2868,474 537,752 277,917 2,159,362 1,881,445 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (219,531) (92,491) 127,040 (6,157,393) (495,550) 5661,843 FUND BALANCE AT BEGINNING OF YEAR 9,768,176 9,769176 - 7,192,564 7,192,564 - + RESIDUAL EQUITY TRANSFERS IN 91.510 91.510 72488 72,488 FUND BALANCE AT END OF YEAR $9640.155 $966].195 $12].040 $1,107.659 $6]69502 $5.661843 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 14 THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 15 CRY of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS es ALL PROPRIETARY FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 TOTALS PROPRIETARY Fll4DTYPES (MEMORANDUM ONLY) INTERNAL ENTERPRISE SERVICE 1993-1990 OPERATING REVENUES Residential charges $4,736,475 $- $4,736,475 Commercial charges 2,606,674 - 2,606,674 as Transfer station charges 490,215 - 49,215 Equipment sales 10,143 - 10,143 Concession rmalnuas 60,475 - 60,475 Gott course fees 357,086 - 357,086 ONer fees and charges 224,605 - 224,605 Inlaid epe - 2,2&5,882 2,285,882 Rental revenue - - - Donations 100 - 100 Danner miscellansous 26,139 19 26,266 r TOTAL OPERATING REVENUES 8,511,912 2,286,009 10,797,921 OPERATING EXPENSES Personnel services 1,779,197 392)42 2,171,940 Materials and supplies 232,851 229,430 4¢,281 Connacmal seMces 3,061,015 1,370,538 4,43!,553 General operating expenses 371,844 1,212,805 1,644,650 Special papects expense 54,864 - 54,864 Internal senrce expenses 351,902 3,298 355,200 Deprecetl0n e>wense 1,238289 126,515 1,364,804 TOTAL OPERATING EXPENSES ],095,962 3,395,329 10,491,291 OPERATING INCOME (LOSS) 1 015,950 (1,109,320) 306,630 NON-OPERATING REVENUES (EXPENSES) as Interest Income 310,139 47,726 35],865 Federal grants 45,384 - 45,384 Stale gams 1,939 - 1,939 Sale of and assets 17,930 (862) 17,068 Compensation for damages 4,074 3,761 7,835 Gain on sale of secudlies 22,830 1,454 24,095 Issuance coal amorllzatlon (45,638) - (45,638) marestand handling costs (1,99,192) (2,949) (1,282,141) as TOTAL NON-OPERATING REVENUES (EXPENSES) (922,734) 49,140 (873,593) INCOME (LOGS) BEFORE OPERATING TRANSFERS 493,216 0,06,180) (566,963) Operating transfers in 1,255,548 1,255,548 + NET INCOME (LOSS) 493,216 195,367 688,583 RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 10,507,155 1,984,827 12,491,982 PRIOR PERIOD ADJUSTMENT (12,090,662) - (12,090,662) RESIDUAL EQUITY TRANSFERS OUT (1,687,897) (1,687,897) RETAINED EARNINGS (DEFICIT) AT ENO OF YEAR 1$2]76188) $2180194 ($SW 994) THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 15 as City of Cape Girardeau, Missouri COMBINED STATEMENT OF CASH FLOWS - ALL PROPRIETARY FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 PROPRIETARY FUND TYPES TOTALS INTERNAL (MEMORANDUM ONLY) as ENTERPRISE SERVICE 1993-1994 CASH FLOWS FROM OPERATING ACTIVITIES: Operating income (loss) $1,415,950 ($1,110,224) $305,726 res Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation 1.238,290 126,515 1,364,005 Cash operating grants received 47,322 - 47,322 res Change in assets and liabilities: (Increase) decrease in accounts receivable 1,194 293,865 295 059 (Increase) decrease in inventory 10,268 6,429 16,697 (Increase) decrease in prepaid expenses (50,778) (1,644) (52,422) Increase (decrease) in accounts payable 230,658 (54,350) 176,308 Increase (decrease) in accrued liabilities (32,578) 1,453 (31,125) Increase (decrease) in landfill postdocure care costs (249,347) (249,347) se NET CASH PROVIDED BY OPERATING ACTIVITIES 2.610,979 (737,956) 1,873,023 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Operating transfers In from other funds 1,255,548 1,255,548 NET CASH PROVIDED BY NONCAPITAL FINANCING ACTIVITIES 1,255,548 1,255,548 + CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES: Proceeds from developers 200,200 - 200,200 Proceeds from SHE bond issue 487,024 - 487,024 Principal paid on revenue bonds (45,000) - (45,000) Principal paid on lease purchase bonds (421,094) - (421,094) Interest paid on bondsand obligations (1,208,758) - (1,208,758) res Proceeds from capital Stands received from other governments 47,784 - 47,784 Purchase of fixed assets (1,357,049) (84.587) (1,441,636) Other 85,365 3,851 89.216 NET CASH USED IN CAPITAL AND RELATED FINANCING ACTIVITIES (2,211,528) (80,736) (2.292,264) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase ofireastreems (2,997,823) (1,047,375) (4,045,198) Proceeds from sale of investments 3,167,487 602,359 3,769,846 Interest on l investments 310.139 47,726 357,865 NET CASH USED IN INVESTING ACTIVITIES 479,803 (391 82,513 as INCREASE IN CASH AND CASH EQUIVALENTS 879,254 39,566 918,820 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3,313,569 407,130 3,720,699 r CASH AND CASH EQUIVALENTS AT END OF YEAR $4,192,823 $446,696 $4,639,519 CASH PAID DURING TH E YEAR FO R INTEREST $1,208,758 - $1,206,758 NON-CASH CAPITAL FINANCING ACTIVITIES: Contributions affixed assets $154,026 - $154,026 as res THE NOTES TOTH E FINANCIALSTATEMENTS ARE AN INTEGRAL PARR OF THIS STATEMENT. 16 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 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 accounting policies of the City are described below. 1. ReportSne Entity In evaluating how to define the City, for financial reporting purposes, management has considered all potential component units. Generally, component units are legally separate organizations for which the elected officials of the City are financially accountable. The decision to include a potential component unit in the reporting entity was made by applying the criteria set forth in GAAP. Effective for the June 30, 1994 financial statements, the City adopted GASB No. 14, "The Financial Reporting Entity,' which provides authoritative guidance on determining the treatment of potential component units. The basic— but not the only— criterion for including a potential component unit within the reporting entity is financial accountability. The main factors in determining financial accountability are: appointing a voting majority of the potential component unit's governing body, the City's ability to impose its will on the potential component unit, a financial benefit of burden resulting to the City, and fiscal dependency. Based on the foregoing criteria, the financial statements of the following entities are included in the accompanying financial statements. Cane 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 and £mancial accountability, the activities of the CGPFA are blended with 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 1990B 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. 17 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 1. Reportine Entitv - Continued Also based on the criteria above, the following entities are excluded from the financial statements of the City: the Downtown Redevelopment Corporation, the Park Development Foundation, Show Me Center Board of Managers, and the Cape Girardeau Public Library. Although they are not a component unit of the City, the City handles the funds of and provides accounting and other services for several entities, some of which are listed in the preceding paragraph. Since these funds are held in the City's name, these entities are shown as Agency Funds in the financial statements. The Cape Girardeau Public Library (Library) had previously been reported as a Special Revenue Fund. However, due to the application of GASB No. 14, the Library is now classified as a related organization and therefore its financial statements are not included with the City. The City provides accounting and other services for the Library. 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 Projects Funds - Capital Projects Funds account for financial resources to be used for the acquisition or construction of major capital facilities, which are not financed by Proprietary Funds City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 2. Fund Accotmtine - Continued 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 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 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 fair value on the date of donation. Depreciation is recorded on general fixed assets. General Lone -Term Debt Account Groun - 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 Grouo - 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 19 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 3. Fixed Assets - Continued 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 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 fives using the straight-line method. The estimated useful lives are as follows. Buildings 25-50 years Improvements 1040 years Equipment 3-10 years When applicable, interest costs are capitalized on self -constructed fixed assets. 4. Basis of Accountine 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 eamings components. Proprietary fund -type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. 20 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 4. Basis of Accounting - Continued The modified accmal basis of accounting is used by all governmental fund types and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available.) "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The City considers revenue to be available if it is collected within 30 days after yearend. 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 we 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 Lability for deferred revenue is removed from the combined balance sheet and revenue is recognized. 5. Encumbrances Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance accounting is utilized in all funds. Encumbrances outstanding at the end of the year in the governmental funds are reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be carried forward and honored during the subsequent year. Encumbrances outstanding in the proprietary funds do not constitute expenses but will be honored in the subsequent year. 6. Buduets and Budeetary Accounting + The City adopts annual operating budgets for all funds except the Risk Management Fund. 21 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 6. Budeets and Budeetary Accountine - Continued The City follows these procedures in establishing the budgetary data reflected in the financial statements. 1. The City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means of financing them. 2. Public hearings are conducted to obtain taxpayer comments. 3. Prior to July 1, the budget is legally enacted through passage of an ordinance. 4. The City Manager is authorized to transfer budgeted amounts between programs within any department, however, any revisions that alter the total appropriations of any department must be approved by the City Council. Departments may not legally exceed their appropriations without approval from the City Council. Appropriations expire at the end of the year, however, outstanding encumbrances at the end of the year are honored by the City. 5. Formal budgetary integration Lc employed as a management control device during the year .. for all funds. 6. Budgets for all funds are adopted on a budgetary basis. Additional budget appropriations by department made throughout the year are as follows: Administrative services $ 16,075 Parks and recreation 14,582 Public safety 72,925 Public works 146,578 Capital outlay 30,000 Contingency 153,570 Employees Fringe Benefits 1.255.548 Of the above appropriations, $1,255,548 was for payment to LAGERS for refund of employee contributions, $233,840 for flood expenditures from the Mississippi River flooding of 1993, $30,000 for city hall parking lot improvements,$40,700 for landfill closure costs, and $129,190 for miscellaneous general operating and contractual services costs of the general, airport, parks and recreation, solid waste, and golf course funds. For the year ended June 30, 1994, expenditures of the debt service fund, employees' fringe benefit fund, and the general fund contingency expenditure exceeded the approved budget by $619,615, $76,534, and $29,306 respectively. 22 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 6. Budgets and Budgetary Accounting - Continued The Combined Statement of Revenues, Expenditures, and Changes in Fund Balance -All Governmental Fund Types reports revenues and expenditures on the modified accrual basis of accounting in accordance with GAAP. The Combined Statement of Revenues, Expenditures, and Changes in Fund Balance -Budget _ and Actual (Budget Basis) for all governmental fund types is prepared on a budgetary basis of including encumbrances as expenditures. The following reconciliation adjusts GAAP basis to budget basis: Excess (Deficiency) of Revenues and Other Financing Sources over Expenditures and Other Financing Uses Special Debt Capital General Revenue Service Projects GAAP Basis $ 850,585 $ (349,137) $ (92,491) $ 52,562 Decrease due to: Year-end encumbrances Development services 83 3,198 .� Parks and recreation 1,955 654 Public safety 39,217 525 Public works 69,831 6,921 - Capital outlay 548,112 111,086 11,298 - 548.112 Budget Basis $739,499 $ (360,435) LJ21,491 $ (495,5501 The individual proprietary schedules of comparing budget to actual is reported on a budgetary basis of reporting encumbrances as expenses. In order to provide a comparison to GAAP statements, the adjustments are reported as follows: 23 Net Income (Loss) Golf Fleet Sewer Water Course Management GAAP Basis $ 341,595 $ 29,430 $ 50,623 $ (9,367) Decrease due to: _ Year-end encumbrances Materials and supplies 244 1,051 Contractual services 2,977 169 3,595 Special projects expenses 19,300 2,977 19.469 3.839 1,051 Budget Basis $338,618 9 961 $46,784 $(10,418) 23 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 7. 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. S. 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 govemmental funds that are not expected to be liquidated within the current year are reported in the general long-terrrr 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. 9. Bond Discounts/Issuance Costs In governmental fund types, bond discounts and issuance costs are recognized in the current period. Bond discounts and issuance costs for proprietary fund types are deferred and amortized over the term of the bonds. Bond discounts are presented as a reduction of the face amount of bonds payable whereas issuance costs are recorded as deferred charges. 10. 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. 11. Cash and Cash Equivalents ,. For purposes of the statement of cash flows, the proprietary fund types consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. .. 12. Comparative Data Comparative totals for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, presentation of prior year totals by fund type have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. 24 r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 13. Prepaid Items Payments made to vendors for services that will benefit periods beyond June 30, 1994 are recorded as prepaid items. 14. Restricted Assets Certain proceeds of enterprise fund revenue bonds, as well as certain resources set aside for the repayment 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. 15. Lone-teen Oblizations 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 remainhtg 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. 16. Interfund Transactions Quasi-extemal transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions, except quasi-external transactions and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. 17. Short-tens Interfund Receivables/Payables During the course of operations, numerous transactions occur between individual fiords 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". 18. Advances to Other Funds Noncurrent portions of long-term interfund loan receivables are reported as advances and are offset 25 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 18. Advances to Other Funds - Continued equally by a fund balance reserve account which indicates that they do not constitute expendable available financial resources and therefore are not available for appropriation 19. Post -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, eighteen 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 1994, those costs totaled $25,023. ' 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 two participants in the program as of June 30, 1994. NOTE B - DEPOSITS AND INVESTMENTS 1. Deposits At June 30, 1994, the carrying amount of the City's deposits was $601,600 and the bank balance was $597,155 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. Category #1 includes deposits covered by deposit insurance or collateral held by the City in the City�s name. Category #2 includes deposits covered by collateral held by the financial institution's trust department in the City's name. Category #3 includes deposits which are ancollateralized or the collateral is held by the financial ' institution's trust department but not in the City's name. 26 Carrying Bank Amount Balance Category #1 $ 112,912 $ 112,912 Category #2 488,688 484,243 Category #3 - 601600 597155 Category #1 includes deposits covered by deposit insurance or collateral held by the City in the City�s name. Category #2 includes deposits covered by collateral held by the financial institution's trust department in the City's name. Category #3 includes deposits which are ancollateralized or the collateral is held by the financial ' institution's trust department but not in the City's name. 26 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE B - DEPOSITS AND INVESTMENTS - Continued 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. Proceeds 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 #3 Uninsured and unregistered, with securities held by the counter -party, or by its trust department or agent but not in the City's name. Category Carrying Market #1 #2 #3 Value Value •. Repurchase Agreements $ 2,373,037 $ - $ - $ 2,373,037 $ 2,373,037 Certificates of Deposit - Insured By Agencies of •^ U.S. Government 1,082,058 - - 1,082,058 1,082,058 U.S. Government Securities 22,255,538 - - 22,255,538 21,982,199 ' Money Market Account U.S. Government Securities 2.884.702 - - 2.884.702 2.884.702 $ 28.595.335 $ - $_ 28,595,335 28,321,996 State Revolving Fund Program 1584,923 1,584,923 Investments in Deferred Compensation Plan 901051 901.051 $ 31.081.309 30 807 970 Included in the amounts shown above is $3,579,655 to be used to retire the 1984 Public Building Bonds and $3,654,700 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, 1994 NOTE C - PROPERTY TAXES Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on August 25, 1993, 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 tar rates assessed at the time were as follows: City Revenue $ .32/100.00 assessed valuation General Fixed Enterprise Library Tax .16/100.00 assessed valuation Assets Fund Public Health Tax .05/100.00 assessed valuation $ 2,073,938 $ 191,790 Debt Service Tax .10/100.00 assessed valuation 9,308,646 9,060,278 ' Special Business District .80/100.00 assessed valuation #2 (Ad Valorem) than building 4,162,505 26,531,357 ' Property tax receivable balances as of June 30, 1994 are as follows: 3,823,924 3,110,941 957,854 Downtown 1217.052 304.890 - Business Debt $ 20,586,065 $ 39,199,256 ' General District Health Service Library Total Current property tax $ 31,569 $ 696 $ 4,851 $ 9,925 $ 15,119 $ 62,160 Delinquent property tax 27,421 453 3,603 8,962 12,794 53,233 Reserve for doubtful property taxesI( 2.838) (85) (1.711) (4.234) (5.792)2( 4,660) o Net property tax receivables 46,152 1,064 16,743 14,653 22,121 90 733 NOTE D - CHANGES IN FIXED ASSETS Additions and deletions to the Enterprise Funds for the fiscal year 1994 were $1,685,098 and $159,369 respectively. Additions and deletions to the Internal Service Funds were $84,587 and $2,795 respectively. A summary of fixed assets at June 30, 1994 follows: General Fixed Enterprise Internal Assets Fund Service Fund Land $ 2,073,938 $ 191,790 $ 37,500 Buildings 9,308,646 9,060,278 363,214 Improvements other than building 4,162,505 26,531,357 26,850 Equipment 3,823,924 3,110,941 957,854 Construction in progress 1217.052 304.890 - ' $ 20,586,065 $ 39,199,256 $ 1,385,418 Less accumulated depreciation 10.134.315 10,441,484 657.640 10 451 750 $ 28.757.772 727 778 28 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS r The following is a summary of bond transactions of the City for the year ended June 30, 1994. General Leasehold Certificates Obligation Revenue Revenue of Bonds Bonds Bonds Participation Total Bonds payable at July 1, 1993 $ 11,175,000 $ 15,400,521 $ 15,481,292 $ 3,795,000 $ 45,851,813 Airport Bond Discount 9,193 9,193 Discount Amortization 7,809 6,366 14,175 Bonds Issued 1,820,000 13,963,617 15,783,617 Bonds Defeased (1,170,000) (10,410,000) (11,580,000) Discount on Defeased Debt 45,100 45,100 Bonds Retired (190,000) (45,000) (1,840,000)25( 0.000) (2,325,000) Bonds payable at June 30, 1994 $ 10.985.000 $ 16,013.330 $ 17.255,568 3 545 000 $ 47,798.898 Bonds payable at June 30, 1994 are comprised of the following individual issues. $ 3.715.000 1984 Public Building Serial Bonds due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 1995 9.00% $ 3,715.000 184,142 $ 3,899.142 1 3.715,000 184,142 3 899 142 .� Principal payments we 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. $ 1580.000 1987 General Obligation Refunding Bonds due as follows: Interest Year Ending Interest Principal Interest Paid From June 30 Rate Due Due Escrow Total 1995 Various $ 3,580,000 238,628 119,869 $ 3.698,759 ' 3 580 000 238 628 119 869 3 698 759 29 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued Principal payments are made annually on November 1, and interest payments are made semi-annually on May t, and September 1. On August 1, 1987, the City of Cape Girardeau issued $3,580,000 of General Obligation Refunding Bonds Series 1987 with interest rates varying from 6.00% to 7.10%, The Refunding bonds constitute general obligations of the City and will be payable as to both principal and interest from 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 morties 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 eamings thereon) and the moneys held uninvested by the Escrow Agent are irrevocably pledged to the payment of the principal of and redemption premium on the Series 1984 Bonds and may be applied only to such payment. Proceeds from the 1994 Refunding Bonds will be used to retire the $3,580,000 outstanding principal of the 1987 Refunding Bonds on November 1, 1994. 30 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 3,690 000 1993 General Obligation Refundine Bonds due as follows: .. Interest Year Ending Interest Principal Interest Paid From June 30 Rate Due Due Escrow Total 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 r 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 2006 5.00 450.000 11250 461.250 3 690 000 1 121 406 86 419 4 724 987 Principal payments are made annually on November I, and interest payments are made semi-annually on May 1 and November 1. 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. a 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 I, 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, 1994 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. $ 1.300.000 Series 1993 Sewerage System Revenue Bonds due as follows: Year Ending Interest Principal Interest ' June 30 Rate Due Due Total 1995 3.600% $ 75,000 $ 63,231 $ 138231 ' 1996 4.000 80,000 60,531 140,531 1997 4.200 85,000 57,331 142,331 1998 4.400 90,000 53,761 143,761 1999 4.600 95,000 49,801 144,801 2000 4.800 100,000 45,431 145,431 2001 5.000 110,000 40,631 150,631 2002 5.125 115,000 35,131 150,131 2003 5.250 120,000 29,238 149,238 2004 5.300 135,000 22,938 157,938 2005 5.350 140,000 15,783 155,783 2006 5.350 155.000 8.293 163.293 y 1 300 000 482 100 L1.782 These bonds are dated September 1, 1993. The proceeds of the bond issue were used to defense (in - substance) the $1,170,000 1986 Sewerage System Revenue Bonds. Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. 32 33 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG TERM OBLIGATIONS - Continued $_11,815.000 Waterworks System Revenue Bonds Series 1992 due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 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 11,815,000 10 066 790 21 881 790 + 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 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 2,500.000 Sewemae Svstem Revenue Bonds (State Revolving Fund Program) Series 1991 due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 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 75,969 230,969 2010 6.875 165,000 65,312 230,312 2011 6.875 175,000 53,969 228,969 2012 6.875 190,000 41,937 231,937 2013 6.875 205,000 28,875 233,875 - 2014 6.875 215.000 14,781 229.781 2 500 000 2 135 71 I $ 4,635,711 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 issues 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 maximurn 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, 1994 was $673,882. The reserve fund yields 6.71%. 34 City of Cape Girardeau, Missouri NO"PES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 500.000 Sewerage System Revenue Bonds (State Revolvine Fund Proeraml Series 1993 due as follows: These bonds are dated August 1, 1993. 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 March 1, and interest payments are made semi-annually on March 1 and September 1. The interest due on the 1993 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 70.00% of the reimbursement into the reserve fund. The maximum amountof funds that will be advanced to the reserve fund will be $350,000. As bonds are paid off, 70% 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, 1994 was $64,881. The reserve fund yields 5.15%. 35 Year Ending Interest Principal Interest June 30 Rate Due Due Total 1995 $ 24,683 $ 24,683 1996 3.400% $ 15,000 24,428 39,428 1997. 3.700 17,000 23,858 40,858 1998 3.900 17,000 23,212 40,212 1999 4.100 18,000 22,511 40,511 2000 4.250 19,000 21,739 40,739 2001 4.400 19,000 20,917 39,917 2002 4.550 20,000 20,044 40,044 2003 4.700 21,000 19,096 40,096 2004 4.800 22,000 18,074 40,074 2005 4900 23,000 16,983 39,983 2006 5.000 24,000 15,819 39,819 2007 5.100 25,000 14,582 39,582 2008 5200 27,000 13,242 40,242 2009 5.250 28,000 11,805 39,805 2010 5.400 30,000 10,260 40,260 201I 5.400 31,000 8,613 39,613 2012 5.400 33,000 6,885 39,885 2013 5.400 35,000 5,049 40,049 2014 5.400 37,000 3,106 40,106 2015 5.400 39.000 1053 40.053 r 500 0003$ 25.959 825 959 These bonds are dated August 1, 1993. 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 March 1, and interest payments are made semi-annually on March 1 and September 1. The interest due on the 1993 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 70.00% of the reimbursement into the reserve fund. The maximum amountof funds that will be advanced to the reserve fund will be $350,000. As bonds are paid off, 70% 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, 1994 was $64,881. The reserve fund yields 5.15%. 35 0 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 375 000 Building and Equipment Leasehold, Revenue Bonds, Series 1988 due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 1995 6.60% $375,000 12,375 $ 387.375 375000 12 375 387 375 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 front 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: $105,783 - Sewer Fund; $116,561 - Solid Waste Fund; and $152,656 - General Long -Term Debt Account Group. Principal payments are made annually on September 1, and interest payments are made semi-annually on March 1, and September 1. Additional principal of $1,775,000, originally payable through the fiscal years ending June 30, 1996 to 1999, was defeased via an in -substance defeasance during this fiscal year. $ 380000 Building and Equipment Leasehold Revenue Bonds (Street and Sewer Improvement Proiect). Series 1989 due as follows: Year Ending Interest Principal Interest March 1 Rate Due Due Total 1995 6.85% 80 $26,030 $406,030 380 000 26 030 406 030 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. 36 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONGTERM OBLIGATION - Continued The bond principal is allocated as follows: $190,000 - Sewer Fund and $190,000 - 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. Additional principal of $3,260,000, originally payable through the fiscal years ending June 30, 1996 to 2003, was defeased via an in -substance defeasance during this fiscal year. 37 $ 1.805.000 Buildine and Equipment Leasehold Bonds, Series 1990 A and B. due as follows: $ 875.000 Series 1990A Year Ending Interest Principal Interest June 30 Rate Due Due Total 1995 6.15% $ 425,000 $ 54,263 $ 479,263 1996 6.25 450.000 28125 478.125 875 000 82 388 957 388 $ 930.000 Series 1990B Year Ending interest Principal Interest June 30 Rate Due Due Total 1995 6.30% $ 50,000 $ 63,043 $ 113,043 1996 6.40 60,000 59,893 119,893 1997 6.50 65,000 56,052 121,052 1998 6.60 65,000 51,828 116,828 1999 6.70 70,000 47,537 117,537 2000 6.75 75,000 42,847 117,847 2001 6.80 80,000 37,785 117,785 2002 6.85 80,000 32,345 112,345 2003 6.90 85,000 26,865 111,865 2004 7.00 90,000 21,000 111,000 .. 2005 7.00 210.000 14 700 224.700 930000 453 895 1 383 895 The bonds are obligations of the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The 37 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS lune 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued 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. The bond liability for the Series 1990A bonds is recorded in the General Long -Term Debt Account Group. Along with the reclassification of the Airport Fund from an Enterprise Fund to a Special Revenue Fund, the bond liability for the Series 1990B bonds were transferred to 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. Additional principal of $2,620,000, originally payable through the fiscal years ending June 30, 1997 to 2000, was defeased via an in -substance defeasance during this fiscal year. $ 955.000 Buildingand nd E4uipment Leasehold Revenue Bonds, Series 1991 Year Ending Interest Principal Interest June 30 Rate Due Due Total 1995 5.55% $ 465,000 $ 53,738 $ 518,738 1996 5.70 490.000 27930 517.930 955 000 81 668 1 036 668 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 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. Additional principal of $2,755,000 originally payable through the fiscal years ending June 30, 1997 to 2000, was defeased via an in -substance defeasance during this fiscal year. 38 + .. + City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued 13,755,000 Building and Equipment Leasehold Refunding & Improvement Revenue Bonds (Capital Improvements Proiect) Series 1993 due as follows: r Year Ending Interest Principal Interest June 30 Rate Due Due Total 1995 3.300% $ 365,000 $ 581,750 $ 946,750 1996 3.700 1,165,000 569,705 1,734,705 — 1997 4.000 2,195,000 526,600 2,721,600 1998 4.100 2,265,000 438,800 2,703,800 1999 4.250 2,340,000 345,935 2,685,935 " 2000 4.400 2,915,000 246,485 3,161,485 2001 4.500 705,000 118,225 823,225 2002 4.625 720,000 86,500 806,500 2003 4.750 420,000 53,200 473,200 2004 5.000 185,000 33,250 218,250 2005 5.000 480.000 24.000 504.000 $ 13.755.000 $ 3,024.450 $ 16.779.450 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 (1) pay the costs of various street improvements for the City, (2) defease $10,410,000 outstanding principal amount of Building and Equipment Leasehold Revenue Bonds of the Authority and (3) pay the costs of issuance of the Series 1993 Bonds. The bond principal is allocated as follows: $2,891,194 - Sewer Fund; $562,264 - Solid Waste Fund; and $10,301,542 - General Long-term Debt Account Group. Principal payments are made annually on March I and interest payments are made semi-annually on March 1 and September 1. 39 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 3,545.000 Certificates of Participation (Convention and Visitors Recreation Facilities Proiect), Series 1993, Year Ending Interest Principal Interest June 30 Rate Due Due Total 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 35,7 715,700 $ 3,545.000 1 346 710 4 89 t 710 The certificates are obligations of the City of Cape Girardeau, Missouri. Under a Lease Purchase Agreement between the City and the Cape Girardeau (Missouri) Public Facility Authority (the "Corporation"), the Corporation will assign the right to receive rental and other receipts from the City to Capital Bank of Cape Girardeau County ( the "Trustee"). The purpose of the 1993 Series certificates 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 certificates 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. 40 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued a The annual requirements to amortize all debt outstanding as of lune 30, 1994 including total interest payments of $19,375,963 we as follows: $ 12,322.887 29 125 560 $ 20.950.806 4 891 710 L6 $269,498 is available in the Debt Service Fund to service the general obligation bonds. This does not include the $3,579,655 available to apply to the refunding of the 1984 Public Building Bonds or the $3,654,700 available to apply to the refunding of the 1987 General Obligation Refunding Bonds. ., In the Sewer Fund, $120,077 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 $ 455,184 Solid Waste Fund 125,129 Debt Service Fund 1.860.285 Total 2 440 598 41 General. Leasehold Certificates Year Ending Obligation Revenue Revenue of June 30 Bonds Bands Participation Total __Bonds_ 1995 $ 7,684,319 $ 1268,571 $ 2,851,199 $ 255,943 $ 12,060,032 .. 1996 464,588 1,311,643 2,850,653 302,968 4,929,852 1997 470,338 1,348,703 2,842,652 332,703 4,994,396 1998 467,738 1,380,424 2,820,628 370,733 5,039,523 .. 1999 468,806 1,414,589 2,803,472 401,488 5,088,355 2000 463,488 1,444,811 3,279,332 430,013 5,617,644 2001 461,805 1,484,955 941,010 466,148 3,353,918 .. 2002 463,555 1,516,301 918,845 504,588 3,403,289 2003 458,875 1,548,036 585,065 539,588 3,131,564 2004 458,125 1,588,651 329,250 571,838 2,947,864 -� 2005 461,250 1,617,494 728,700 715,700 3,523,I44 2006 - 1,660,028 - - 1,660,028 2007 - 1,532,441 - - 1,532,441 - 2008 - 1,578,259 - - 1,578,259 2009 1,621,214 - - 1,621,214 2010 - 1,667,972 - - 1,667,972 2021 1,710,902 - - 1,710,902 2012 - 2,846,702 - - 2,846,702 2013 - 273,924 - - 273,924 2014 - 269,887 - - 269,887 2015 - 40.053 _.. - __. _ -... ..... 40 053 $ 12,322.887 29 125 560 $ 20.950.806 4 891 710 L6 $269,498 is available in the Debt Service Fund to service the general obligation bonds. This does not include the $3,579,655 available to apply to the refunding of the 1984 Public Building Bonds or the $3,654,700 available to apply to the refunding of the 1987 General Obligation Refunding Bonds. ., In the Sewer Fund, $120,077 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 $ 455,184 Solid Waste Fund 125,129 Debt Service Fund 1.860.285 Total 2 440 598 41 r City of Cape Girardeau, Missouri NOTES TO FINANCI.AL STATEMENTS June 30, 1994 NOTE E - LONG-TERM OBLIGATIONS - Continued In the General Long -Term Debt Account Group, $403,057 is available to service the Certificates of Participation. Included in restricted cash on the balance sheet is $2,379,743 which is the balance in the various project accounts which represent incomplete projects at June 30, 1994. 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. During the fiscal year ended June 30, 1994, the City defeased (in -substance) $10,410,000 of CGPFA Bonds and $1,170,000 of Revenue Bonds. As of June 30, 1994, defeased debt still outstanding consisted of $4,453,457 in the Enterprise Funds and $7,076,543 in the General Long-term Debt Account Group (GLTDAG). Pursuant to GAAP, defeased debt is not shown on the face of the balance sheets. The cash flow required to service the old debt and that required to service the new debt and complete the refunding are as follows: M Enterprise Cash Flow Requirements of: FundsLG TDAG Total Old Debt $ 6,393,595 $ 9,497,594 $ 15,891,189 New Debt 6.069,851 9.557303 I5.627.154 Difference 323.744 $ (59.709)L 264 035 The economic gain or Ioss from the defeasance of this debt is calculated as follows: Present Value of Debt Service Enterprise Requirements: Funds GLTDAG Total Old Debt $ 5,058,886 $ 7,704,000 $ 12,762,886 New Debt 4.754.861 7338,64 i2.413.507 Economic Gain (Loss) 304 025 34 646 269 379 M 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. r No capital lease obligation existed as of June 30, 1994. 42 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE G - DEFICIT FUND BALANCES/RETAINED EARNINGS The following Individual funds have deficit fund balances/retained eamings at June 30, 1994. Enterprise Funds Solid Waste Fund $ 2,831,069 Golf Course Fund 95,315 Special Revenue Funds Airport 3,261 Parks & Recreation 85,594 NOTE H - PENSION PLAN 1. Plan Description The City of Cape Girardeau contributes to the Missouri Local Government Employees Retirement System (LAGERS), an agent multiple -employer public employee retirement system that acts as a common investment and administrative agent for local government entities in Missouri. LAGERS was created and is governed by state statute. As such, it is the system's responsibility to administer the law in accordance with the expressed intent of the General Assembly. The plan is qualified under the Internal Revenue code Section 401A and it is tax exempt. All full-time employees are eligible to participate in LAGERS. Benefits vest after five years of credited service. Employees who retire on or after age 60 (55 for police and fire) with 5 or more years of service are entitled to an allowance for life based upon the benefit program then in effect. The allowance is equal to a benefit factor multiplied by the final average salary multiplied by the number of years of service. LAGERS also provides early retirement, death and disability benefits. If the City of Cape Girardeau participates under the contributory plan, each member contributes 4% of gross salary. The employer is required to contribute the remaining amounts necessary to finance the coverage of its employees using the actuarial basis specified by state statute. 2. Fundine 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 plans 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, 1994. 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 43 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE H - PENSION PLAN - Continued 2. Funding Status and Progress - Continued 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. At February 28, 1994, the assets in excess of the pension benefit obligation were $58,212, determined as follows: Pension Benefit Obligation: (Employer Accumulation Fund and Member Deposit Fund only) Retirees and beneficiaries currently receiving benefits $ - Note: The obligation for the retirees and beneficiaries has been transferred to the PERS as a whole. Terminated employees not yet receiving benefits 290,712 Current employees— Accumulated employee contributions including allocated investment income 30,205 Employer fmanced - Vested 8,082,420 Employer frianced - Non -vested 802.049 Total Pension Benefit Obligation 9,205,386 Net Assets Available for Benefits; at Cost: 9.263.598 (Market value of assets: $9,381,446) Assets in Excess of the Pension Benefit Obligation 58 212 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 1994 of $1,902,799 was made in accordance with .. City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE H - PENSION PLAN - Continued 3. Funding Policy - Continued actuarially determined contribution requirements determined through an actuarial valuation. This amount consisted of (a) normal cost which is 6.3% of covered payroll for general employee classifications, 6.1 % for police employee classifications, and 10.3% for fire employee classifications and (b) amortization of prior service costs which is .60% of covered payroll for general employee classifications, 1.1 % for police employee classifications, and 5% for fire employee classifications. The value of vested benefits was not determined in connection with the actuarial valuation of the plan. At February 28, 1994 (the date of the most recent actuarial valuation), the total unfunded liability for benefits accrued was $2,020,624. 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 -concent basis, assess progress being made in accumulating assets to pay benefits when due, and allow for comparisons with other public employees retirement system (PERS). Following disclosure requirements of GASB 5, only eight years of trend information for the City of Cape Girardeau is available in the following reporting format. 45 (1) (2) (3) (4) (5) (6) (7) Unfunded - PBO Employer Pension as a % of Contributions '— Net Assets Benefit Percent Unfunded Annual Covered as a % Valuation Available Obligation Funded PBO Covered Payroll of Covered Date For Benefits (PBO) (11/(21 (2)_(1) Payroll (4)/(5) Payroll 02/28/87 $ 5,276,196 $ 5,595,774 90o $ 319,578 $ 4,968,360 6% 6% 02/28/88 6,218,632 6,188,416 100 (30,216) 4,970,027 - 6% 02/28/89 5,577,814 5,190,355 107 (387,459) 5,291,039 - 8% 02/28/90 6,402,470 5,792,412 111 (610,058) 5,542,581 - 8% 02/28/91 7,389,133 7,235,469 102 (153,664) 6,102,647 - 9% 02/29/92 8,065,151 7,848,941 103 (216,210) 6,449,622 - 9% 02/29/93 8,089,425 8,048,251 101 ( 41,174) 6,624,319 - 9% 02/28/94 9,263,598 9,205,386 101 ( 58,212) 7,388,088 - 26%* * Includes return of employees prior contributions. .. The City's total payroll for fiscal year 1994 is $8,221,649. 45 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE H - PENSION PLAN - Continued 4. Trend Information - Continued The above assets and pension benefit obligations do not include the assets and present value of benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. All current retiree assets and present values are excluded above, beginning 1989. Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation provides one indication of the plans funded status on a going -concent 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 trade in accumulating sufficient assets to pay benefits when due. Generally, the smaller this percentage, the stronger the plan. 46 Revenues By Source Fiscal Member Employer Investment Year Contributions Contributions Income Total 6/30/87 $ 197,541 $ 303,803 $ 778,789 $ 1,280,133 ' 6/30/88 203,439 308,554 424,987 936,980 6/30/89 - 435,168 512,051 947,219 6/30/90 - 425,627 712,292 1,137,919 ' 6/30/91 - 550,388 506,632 1,057,020 6/30/92 - 579,287 639,449 1,218,736 6/30/93 - 574,918 936,993 1,511,911 6/30/94 - 1,902,799 765,960 2,668,759 ExMnses By Type Fiscal Year Benefits Refunds Total 6/30/87 $ 227,472 $ 37,921 $ 265,393 6/30/88 265,824 59,276 325,100 6/30/89 261,462 74,345 335,807 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 6/30/94 381,536 1,463,817 1,845,353 46 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE H - PENSION PLAN - Continued 4. Trend Information - Continued .� Ten year historical trend information for the Missouri Local Government Employees Retirement System (LAGERS) presenting the progress in accumulating sufficient assets to pay benefits when due is presented in the LAGERS June 30, 1994 comprehensive annual financial report. NOTE I - INTEREST EXPENSE Interest cost, including handling charges, totaling $3,240,286, excluding $68,585 of interfund interest, was incurred during the year ended June 30, 1994. No interest cost was capitalized as part of the cost of assets constructed during the period. NOTE J - INTERFUND RECEIVABLES AND PAYABLES The following is a summary of the amounts due from and to other funds. 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 plan assets 47 Due to Due from General Fund $ 2,048,276 $ - Sewer Fund - 337,500 Solid Waste Fund - 950,D00 Library Fund - 75,000 Golf Course Fund - - 435,000 Airport Fund - 45,315 + CDGB Grant - 52,245 Parks & Recreation - 23,781 Motor Fuel Tax - 1,699 Street Improvements - 114,711 Park Improvements - 13.025 $2,048,276 2.048276 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 plan assets 47 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS Jure 30, 1994 NOTE K - DEFERRED COMPENSATION PLAN - Continued including 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. NOTE L - SEGMENT INFORMATION FOR ENTERPRISE FUNDS The City maintains four enterprise funds which provide sewer, water, solid waste, and golf services Segment information for the year ended June 30, 1994 was as follows: 48 sewer Water Solid Waste Goff Course Total Fund _Fund ,- Fund _ Food Enterorise Operating Revenues $ 2,314,195 $ 3,497,963 $2,271,471 $ 428,284 $ 8,511,912 Depteciation 661,023 288,022 253,604 35,641 1,238,290 Operating Grants - _ _ _ Operating Income (Loss) 587,245 653,424 112,247 63,035 1,415,950 Operating transfers in - - - Operating transfers out Net Income (Loss) 341,595 29,4300 71,568 50,623 493,216 Current Capital Contributions 394,901 174,023 7,109 - 576,033 Transfers Property, Plant and Equipment Additions 952,159 587,105 100,784 45,050 I,685,098 Deletions - - (159,369) - (159,369) Net Worling Capital 3,234,596 2,712,599 (850,031) (433,127) 4,664,037 Total Assets 22,659,930 12,805,832 1,613,565 369,133 37,448,460 Bonds and Other Long - Term Liabilities Payable from operating revenues 7,270,452 11,713,331 665,187 19,648,970 Payable from other sources - - - - - Total Equity $ 14,725,384 $ 287,094 S(2,543,790) $ (95,315) S 12,373,373 48 M, City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE M - RESERVATION OF FUND EQUITY At June 30, 1994, the City had reserved its fund equity as follows: General Fund Reserved for prepaid expenses $ 58,879 Reserved for advances 1,797,500 Reserved for mausoleum maintenance 49,896 Reserved for police projects 37,434 Reserved for encumbrances 111 087 2 OS4 796 Special Revenue Funds Convention(rourism Fund .. Reserved for encumbrances $ 3,198 Airport Fund Reserved for prepaid expenses 9,638 Reserved for encumbrances 6,921 Parks and Recreation Fund Reserved for prepaid expenses 473 Reserved for encumbrances 654 Health Fund Reserved for encumbrances 525 21 409 Debt Service Fund Reserved for debt service LEZL7 195 + Capital Projects Funds General Capital Improvement Fund Reserved for debt service $ 204,483 Reserved for bond capital expenditures 2,560,315 Reserved for encumbrances 214,997 ' Corps Flood Control Fund Reserved for debt service 396,008 Reserved for bond capital expenditures 1,244,899 Street Improvements Fund Reserved for debt service 139,230 Reserved for bond capital expenditures 1,737,581 Reserved for encumbrances 292,035 FAU Street Grants Fund Reserved for encumbrances 7,780 Community Development Block Grant Fund Reserved for economic development loan repayments 75,706 .� Reserved for encumbrances 33,3 6,906,334 M, City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE N - COMPOSITION OF RESTRICTED ASSETS At June 30, 1994, the City has restricted assets in its Enterprise funds as follows: Revenue Bond Bond Sinking and Construction Reserve Fund Total Sewer Fund $ 1,532,888 Water Fund 846,854 Solid Waste Fund - 12,379,742 $ 765,208 $ 2,298,096 1,210,589 2,057,443 125.129 125.129 $2,100,926 4 480 668 NOTE O - LANDFILL CLOSURE AND POSTCLOSURE CARE COST State and federal laws and regulations require the City to place a final cover on its landfill when closed and perform certain maintenance and monitoring functions at the landfill site for thirty years after closure. In addition to operating expenses related to current activities of the landfill, an expense provision and related liability are being recognized based on the future closure and postclosure care costs that will be incurred near or after the date the landfill no longer accepts waste. The recognition of these landfill closure and postclosure care costs is based on the amount of the landfill used daring the year. The estimated liability for landfill closure and postclosure care costs is $2,132,227 as of June 30, 1994, which is based on 100% usage (filled) of the landfill. The estimated total current cost of the landfill closure and postclosure care $(2,410,600) is based on the amount that would be paid if all equipment, facilities, and services required to close, monitor, and maintain the landfill were acquired as of June 30, 1994. However, the actual cost of closure and postclosure care may be higher due to inflation, changes in technology, or changes in landfill laws and regulations. The City of Cape Girardeau has used the option of a Contract of Obligation as the financial assurance instrument for the landfill. The City has recently (after bine 30, 1994) issued bonds from which the proceeds will be used to pay the closure costs. NOTE P - RISK MANAGEMENT The City has established self-insurance plans for employees health insurance and workers' compensation. Both of these we 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. 50 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30,1994 NOTE P - RISK MANAGEMENT - Continued 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, 1993 $ 128,129 $ 587 $ 128,716 Provision for Incurred Claims 644,553 285,667 930,220 Payments of Claims62( 6.895)201 8.0321834 9`27) Balance, June 30, 1994 S 145,787 LIN4 009 NOTE Q - CONCENTRATION OF CREDIT RISKIBAD 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. At June 30, 1994, utility receivables totaled $1,604,808. On the financial statements, the utility receivables are shown net of the allowance for doubtful accounts of $475,664. This results in net utility receivable of $1,129,144. NOTE R - COMMITMENTS AND CONTINGENCIES .� 1. Lititzation 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. 51 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE R - COMMITMENTS AND CONTINGENCIES - Continued 2. 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. 3. Construction Commitments a As of June 30, 1994, the City had construction commitments outstanding of $1,270,374. .� 4. Encumbrances As of June 30, 1994, the City had encumbrances outstanding of $697,832. NOTE S - SUBSEQUENT EVENTS The City issued additional debt after June 30, 1994. As of the date of these fmancial statements, the City has issued $3,530,000 in additional bonds, of which $2,720,000 was for the purpose of financing water and sewer extensions and of which $810,000 was for the purpose of financing landfill closure costs. NOTE T - CHANGE IN REPORTING ENTITY As described in Note Al, the Cape Girardeau Public Library was changed from a Special Revenue Fund to an Agency Fund for the June 30, 1994 financial statements. The effect of this change in reporting entity was to reduce the Excess (Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses of the Special Revenue Funds by approximately $25,000. NOTE U - PRIOR PERIOD ADJUSTMENTS Beginning retained earnings was reduced $9,428,918 and $2,661,744 in the sewer and solid waste funds respectively. Part of the adjustment to the sewer fund's retained earnings resulted from residual equity transfers of fixed assets, long-term debt, and cash from other governmental fund types or account groups in the year 52 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE U - PRIOR PERIOD ADJUSTMENTS - Continued ending June 30, 1987. These transfers were incorrectly shown as adjustments to retained earnings. Book balance of fixed assets transferred was $9,221,379. The amount of long-term debt transferred was $1,442,046. The amount of cash received from a capital projects fund was $1,149,585. The net of these three transfers was $8,928,918. The remaining $500,000 adjustment to the sewer fund's retained earnings resulted from a $500,000 capital grant shown as operating revenue instead of contributed capital in the year ending lune 30, 1987. The adjustment to the solid waste fund's retained earnings resulted from transfer of assets at book value to establish the fund on July 1, 1986 that was incorrectly shown as an adjustment to retained earnings and a reclassification of estimated landfill closure expenses allocable to previous years back to the year ending June 30, 1993. The amounts of these adjustments were $280,170 and $2,381,574 respectively. NOTE V - RESIDUAL EQUITY TRANSFERS The Airport Fund was previously accounted for as an Enterprise Fund. However, due to the application of criteria for determining fund classic -nation, the Airport Fund was transferred for a Special Revenue Fund as of July 1, 1993. The assets, liabilities, and equity of the Airport Enterprise Fund were transferred to the Special Revenue, Capital Projects, and Debt Service Funds, General Long-term Debt Account Group, and General Fixed Assets Account Group. The reconciliation of the Airport Fund is as follows: Residual Equity Transfers Out: Airport Enterprise Fund $ 1,687,897 Residual Equity Transfers In: Airport Special Revenue Fund (8,371) Debt Service Fond 91,510 General Capital Improvement Capital Project Fund 72,488 General Fixed Assets Account Group 3,520,095 General Long-term Debt Account Group (1,082,556) .. Issuance costs of debt not transferred 28,566 Contributed Capital (933.835) 1,687,897 53 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1994 NOTE V - RESIDUAL EQUITY TRANSFERS - Continued As described in Note A1, the Library Fund was reclassified from a Special Revenue Fund to an Agency Fund as of July 1, 1993. The assets, liabilities, and equity of the Library Special Revenue Fund and General Fixed Assets Account Group were transferred out and the appropriate assets and liabilities of the Library Agency Fund were transferred in. The residual equity transfers out of $175,025 of the Library Special Revenue Fund does not have a corresponding entry due to the Library Fund transfer to an agency fund classification. .� NOTE W - CONTRIBUTED CAPITAL The changes in the contributed capital accounts for the enterprise funds were as follows: Solid Sources Sewer Water Waste Total Beginning Balance, July 1, 1993 $ 49822,138 $ 44,302 $ - $ 4,866,440 Prior period adjustment 9,428,918 - 280.170 9.709.088 14251,056 44,302 280,170 14,575,528 Contributing Sources: Donated assets by developers 154,026 - - 154,026 Connection fees 200,200 174,023 - 374,223 State grants 40.675 7.109 47.784 Ending Balance, June 30, 1994 14645 957 218,325 L187 279 $ 15,151,561 54 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS 55 City of Cape Girardeau, Missouri GENERALFUND COMPARATIVE BALANCE SHEET JUNE 30, 1994 AND 1993 1994 56 $2,323,789 46,152 478,666 1,124,578 40,258 23,688 49,683 28,353 250,776 1,797,500 137 58,879 $6,222,459 $268.228 228,992 40,981 9,390 914.024 1,461,615 2,054,796 2,706,048 4,760,844 $6,222,459 1993 $1,030,190 57,363 452,595 1,104,824 25,808 391 199,602 28,690 136,949 1,797,500 145 42,175 $4,876.232 $168,469 223,193 37,840 14,234 522.239 965,975 1,919,883 1,990,374 3,910,257 4,876,232 ASSETS Cash and cash equivalents Investments Receivables, net of allowances for ' doubtful receivables Real estate, personal property and merchant taxes Sales tax Franchise tax Special assessments receivable Interest receivable Other receivables Intergovernmental receivables Grants receivable Due from otherfunds ' Advances to other funds Inventories Prepaid expenses Total assets LIABILITIES AND FUND EQUITY Accounts payable Accrued liabilities ' Salaries, payroll taxes and benefits Other liabilities Due to other governments Deferred revenue Total liabilities o Fund Balance Reserved Unreserved Total fund equity Total liabilities and fund equity City of Cape Girardeau, Missouri GENERALFUND COMPARATIVE BALANCE SHEET JUNE 30, 1994 AND 1993 1994 56 $2,323,789 46,152 478,666 1,124,578 40,258 23,688 49,683 28,353 250,776 1,797,500 137 58,879 $6,222,459 $268.228 228,992 40,981 9,390 914.024 1,461,615 2,054,796 2,706,048 4,760,844 $6,222,459 1993 $1,030,190 57,363 452,595 1,104,824 25,808 391 199,602 28,690 136,949 1,797,500 145 42,175 $4,876.232 $168,469 223,193 37,840 14,234 522.239 965,975 1,919,883 1,990,374 3,910,257 4,876,232 City of cape Girardeau, Missouri GENERAL FUND SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 BUDGET ACTUAL 57 SSSIA W0 741,70.9 491,070 281,411 461,434 58.296 119,366 120,1112 11,777,322 30461 141.552 158,941 151,257 2:5,597 353.990 1.152 806 211,986 240,595 308,569 86.057 19 089 041 295 617,588 93,115 107.698 616,401 177,006 3,338,142 2,529,351 6,014,501 1,223,965 197.389 1,421354 232,876 1,133 1,133 10.1.2,367 VARIANCE FAVORABLE (UNFAVORABLE) 8220.051 (14,701) 296.070 11,411 30,695 12.296 69.366 33.682 6`P 070 2,176 12 22.903 6,R5 16,075 (1 059) 46832 12,699 47,540 24001 (6.067) 35911 76,508 11,371 6.105 93984 (3053) 92.706 (22.119) 11534 61,380 (7.692) 54.306 (29306) (1,133) (1,133) 336.399 1,864,955 REVENUES 1.907,083 - Taxes $8.764,809 r Licenses and'ermid 756,404 (7,358) Intergovernmental 195,000 (325,458) Cnarges for senses 270,DCo Interdemermenal servcos 4W.739 Form and fMeitures 565,000 Mlippiti nexus 50,000 Interest 06.300 TOTAL REVEN U ES 11,116252 EXPENDITURES Current Administrative sauces City bopn..1 40,637 Human rnources 141.564 City manager 191.044 City attorney 150.962 Finance 311,572 mBmgluN1e1O1 352939 TONl edmmentieve services 1,199.536 Daralepment sernoes Pirmemg smvIom 224,685 Inspection services 288.143 Engineaing services 332 650 COmmunm and economic development 80,000 Public ando,edafon 230000 Total development amvtas t1ss 47e Parks andusimm tun Park maintenance 694.096 Cemetery 114.486 Facility maintenance 113,803 Fuel Mand mormiim 912,385 Found Sareq Municipal court 173,955 Poise 3,420,048 Fire 2507 232 Total public darer, 6102035 Pu tic works Coast 1,285.353 i Slormwater 190,307 Total public works 1475.860 Corld'emy 250,570 Debt Service Principal Interest and feral Cnarges Tomidebalevice TOTAL EXPENDITURES 11,048766 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 69,486 OTHER FINANCING SOURCES (USES) Operating traneraSln 1,907,0B9 Operating trantrafs pus (2253271) Compensation for damages - Rcoeedsrromfixedassea 7,500 Special essassmama TOTAL OTHER FINANCING SOURCES (USES) (338688) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND as OTHER FINANCING USES ($269202) 57 SSSIA W0 741,70.9 491,070 281,411 461,434 58.296 119,366 120,1112 11,777,322 30461 141.552 158,941 151,257 2:5,597 353.990 1.152 806 211,986 240,595 308,569 86.057 19 089 041 295 617,588 93,115 107.698 616,401 177,006 3,338,142 2,529,351 6,014,501 1,223,965 197.389 1,421354 232,876 1,133 1,133 10.1.2,367 VARIANCE FAVORABLE (UNFAVORABLE) 8220.051 (14,701) 296.070 11,411 30,695 12.296 69.366 33.682 6`P 070 2,176 12 22.903 6,R5 16,075 (1 059) 46832 12,699 47,540 24001 (6.067) 35911 76,508 11,371 6.105 93984 (3053) 92.706 (22.119) 11534 61,380 (7.692) 54.306 (29306) (1,133) (1,133) 336.399 1,864,955 995,469 1.907,083 - (2.268,816) (15.545) 34.800 34,800 142 (7,358) 1.335 1,335 (325,458) 13,232 5739499 $1.008.701 I i i 1 1 1 i 1 1 1 Y 1 1 1 1 1 1 1 1 City of Cape GYordeeu, Nlssoul SPECAL REVENUE FUNDS COMBINING BALANCE SHEET June 30, 1994 VA1h Comparative Total. for Jurro 30, 1993) Downtown Cenral C.san. .1 Fou'sm AFport BOalrnza District Parks and Recreation Health Motor Fuel T Improvement Gale, Tax Flood Protect0 Vision 2000 Taal, 5-30-9j6 30--93 ASSETS Cash and.sail equlveknls $2,107 $21,194 $12.748 $7,301 $20,359 $- 5404,055 $3,096 $3,101 $474,842 $1,040,565 Investments 250,000 - - - 99,000 300.000 1,0)),159 - - 1726,159 1,547.884 Receivables, net of alowencesfcr doubtful receivables Red estate too - - 1,064 - 5.994 - - - - 7,058 6,073 Personal property tax - - - - 749 - - - - 749 1691 Hobl-motel texreceiveble 29,016 - - - - - - _ _ 29,016 26351 Restaurant toot receivable 44,010 - - - - - - - - 44,010 3),060 Moles fuel to$ - - - - - 69,379 - - - 69.379 56,419 Motor vehicle license fees - - - - - 18,269 - - - 13,269 13,168 Motor vehicle sales taw - - - - - 16,860 - - - 18.860 15,934 Other receivables 20,000 10,04 - 87 27 - - - - 30,161 18021 Sales I. 119.911 - - 1 19,9 11 112894 Interest receivable 4.953 - - - 373 5,944 28745 - - 40,015 10,162 UP Grant. recelvabb - 41817 - - - - - _ _ 41,81) 46,224 W Restricted Assets - - - - _ _ _ _ _ Prepaid.,.Paaa 201 9,630 - 43 - - - - 120 10,432 12,692 Due from other Ends - - - - - - - _ _ - _ Advances to other Ends TOW sassier 35 3)5 90696 153012 $7,861 littai542 140]452 _$1,6298)1 $3896 $3221 $2633606 $2945946 LIABILITIES AND FUND EQUITY Accounts payouts $13,495 $10.241 $- 540,135 $1,964 $10,066 $20 $- $540 $84,469 $100695 Accrued Fnblltlies Selariee,pn,.Ji haes and benebls 2803 10.514 - 29,370 1.420 - - - - 44,215 29,5)5 Other liebipies - - - 169 - - - - - 169 102 Din to other Ends - 45,315 - 23,781 - 1,699 - - - )0,)95 46,1)1 Doe to other governments - - - - - - - - - _ - Advencekomotherfunds - - - - - - - - - - - Deferred! revenue 19,)8) 1.061 6,203 154.298 181,352 )),500 TOW liabilities 16.298 93,957 1.064 -T3,155 9,595 11]65 154326 540 301,000 344.123 Fund bale-. Reserved 3,190 16,559 - 1,127 525 - - - - 21.409 500 Ugreeerved 330,079 19.020 12,)408( 6,)21) 116,382 395,687 1,475545 3,696 2.601 2.231.27) 2,601323 Tend fund equity 334077 (3,261) 12,)400_{5,594) 116,907 395,68) 1.475.545 3896 2,681 2,252686 2.601823 Total Habilhiea and load equity $350,375 $90,696 $13_812 $7,661 $120502 $407452 $1629871 $3096 $3.221 $2633,686 52.945946 CNyol Cape drattleau.Ml un SPECIALRE MUEFUIUS OOMBININGSTATENENT OFREYT31UE5, E EN31TURM AND CHANGES IN FUND BALANCE FORMEFISCA_YEAR ENDEUJUNE 301994 DOMNTOMN CMITAL CONVENIm BUSINESS PARn AND MOTOR IMPROVEMENT FI50] VI51014 TOTALS TCIABM ARPORT NSARICT REDEANDN NEALTN FUEL TAX SALES TAX MO3 TION M0 1993-1994 REVENUES 1. $]4].301 $- vl,Y7 8- $135`. $- $1426930 $- S- UM1,31a mterOm'nmlle0lm - 103.]]4 - - 3915 1,0 695 - - - 1210324 CAerBlb br�rvt� 1,833 9,M - 265,2YI - - - - - 2T53 Mls.11...aal®ue 18995 96618 - d, - - - - 3,6 12 5313 ht.ht.182]9 445 175 t]5 3409 21050 56 156 125 1153 tOt 539 TOTALREVENUES ]88968 273,609 VP12 M3 142832 101553 1403042 125 3,619 401a)69 EXPENDITURES ahem Atminlse awakes - - - - - - _ _ - - D.IopmmaseMcae 210.139 - 26203 - - - - -5.039 31006 Pally aM rwr tbn _ _ _ 661003 - - _ _ - 031 pwte%t, _ _ - 11205 _ _ _ _ 11208 PwIt worla - 430&3 116030 533.561 Oeti a ka N Imaeff aM lMrsl charges 3455 1915 503 467 69'0 TDTAL IwEmDnmFtm 278,139 440,] 2626!1 (MMM 112075 117181 467 5®9 1613]0] EYCESS (DEFICIENCY) OF REVENUES OVER PNUM)IXPENJI1lAES 510229 (167390) (4248) (30323]) 30,157 9402 1A02.825 125 120]0) 2601061 ORIM FINANONG SOUR(£S (USES) OpaatlnBlransTers In 1M50D - 375,00 - - - 54]500 cpu tingtmnsfemw (915,920) - - - - (11800000) (12&579) - - (3303.499) Gain on sale ol>Bcurltbs 382 934 1165 2811 TOTAL OTHER FINANCING SOURCES (USES) (9155381 iM.5O 375,0M (1093,O6fi7 (1 2M (2 7M E3ICE55(DEFICIENCY) CFREVENUES AND OTN6R FINANCING SOURCES OVER M19 NDIIURES AND OT FINANCING USES 1405309) 5,110 (4,248) (1626) W75 (154794) 199311 125 (2 Pro) (349137) FUINDBAIANCE ATBEGINNINGOFYEAR 739330 - 16996 (fi7,365) 110150 550601 1216,014 3771 4,751 2610,194 RESIWALMLAW TRANS9RSIN-ARPCRT FUND (0371) 103]1) FUND BALANCE AT END OF YEM 5334077 1&12St1 $12748 ($055961 $115907 5395687 $1475545 $3096 #6B1 12252636 City of Cape Girardeau. MissoM CONVENTION/TOURISM SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 60 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes $704,991 $747,301 $42.310 Charges for services — 1,893 1,893 Mscellaneous — 20,895 20,895 Interest 2,000 18,279 16,279 TOTAL REVENUES 706,991 788,368 81,377 EXPENDITURES Current Development services 300,000 281,337 18,663 TOTAL EXPENDITURES 300,000 281,337 18,663 EXCESS IDEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 406,991 507,031 100,040 OTHER FINANCING SOURCES (USES) Operating transfers out (985,920) (915,920) 70,000 Gain on sale of Severities 382 382 TOTAL OTHER FINANCING SOURCES (USES) (985,920) (915,538) 70,382 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ($578929) ($408507) $170.422 60 City of Cape Girardeau, Missouri .� AIRPORT SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE W. 1994 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $167,714 ($194,786) 9,On (2,423) 96,618 (6,382) 273,409 (203,591) BUDGET 234,775 r (3,955) 447,719 230,820 REVENUES 27,229 172,500 Intergovemmertal $362,500 — Charges for SeMCes 11,500 Miscellaneous 103.000 TOTAL REVMUES 477,000 EXPENDITURES Current Public wales 678,539 Debt Service Interest and fiscal charges — TOTAL EXPENDITURES 678,539 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (201,539) OTHER FINANCING SOURCES (USES) Operating transfers h 172,500 TOTAL OTHER FINANCING SOURCES (USES) 172.500 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ($29 039) 61 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $167,714 ($194,786) 9,On (2,423) 96,618 (6,382) 273,409 (203,591) 443,764 234,775 3,955 (3,955) 447,719 230,820 (174,311) 27,229 172,500 172,500 — ($1811) $27229 62 City of Cape Girardeau, Missouri DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND + SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 VARIANCE FAVORABLE + BUDGET ACTUAL (UNFAVORABLE) + REVENUES Taxes $20,500 $21,567 $1,067 Interest 600 445 (155) TOTAL REVENUES 21,100 22,012 912 EXPENDITURES Current Devebpment Services 20,250 26,260 (6,010) TOTAL EXPENDITURES 20,250 26,260 (6,010) EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 650 (4,248) (5,098) OTHER FINANCING SOURCES (USES) — — — + TOTAL OTHER FINANCING SOURCES (USES) - - - + EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $850 $4248 ($5,098) 62 City of Cape Girardeau, FAssourl PARKS AND RECREATION SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — 13UDGEF AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 BUDGET ACTUAL 63 $265,230 4,354 175 269,759 661,737 1,915 663,652 (393,893) 375,000 375,000 VARIANCE FAVORABLE (UNFAVORABLE) $15,230 354 (325) 15,259 (a5,031) (1,915) (36,946) (21,687) ($18,893) ($21 6811 REVENUES Charges for services $250,000 Msceilaneaus 4,000 _ Interest 500 TOTAL REVENUES 254,500 EXPENDITURES Current Parks and recreation 626,706 Debt senAce Interest and fiscal charges — TOTAL EXPENDITURES 626,706 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (372,206) OTHER FINANCING SOURCES (USES) Operating transfers in 375,000 TOTAL OTHER FINANCING SOURCES (USES) 375,000 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $2794 63 $265,230 4,354 175 269,759 661,737 1,915 663,652 (393,893) 375,000 375,000 VARIANCE FAVORABLE (UNFAVORABLE) $15,230 354 (325) 15,259 (a5,031) (1,915) (36,946) (21,687) ($18,893) ($21 6811 City of Cape Girardeau. Missouri HEALTH SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE a0, 1994 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes $103,700 $135,508 $31,808 Intergwemmertal 3,300 3,915 615 Interest 2,100 3,409 1,309 TOTAL REVENUES 109,100 142,832 33,732 EXPENDITURES Current Public safely 124,971 112,600 12,371 + TOTAL EXPENDITURES 124,971 112,600 12,371 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (15,871) 30,232 46,103 OTHER FINANCING SOURCES (USES) — — — TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ($15 871) $30,232 $46 103 y 64 .. City of Cape Girardeau, Missouri MOTOR FUEL TAX SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $1,038,695 $102,695 22,858 12,858 1,061,553 BUDGET 116,698 33,302 583 (583) REVENUES 32,719 944,272 Intergovemmertal $936,000 — Interest 10,000 ,099,066 TOTAL REVENUES 946,000 EXPENDITURES Current Public works 150,000 Debt Service Interest and fiscal charges — TOTAL EXPENDITURES 150,000 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 796,000 OTHER FINANCING SOURCES (USES) Operating transfers out (1,100,000) �. Gain on sale of securities — TOTAL OTHER FINANCING SOURCES (USES) (1,180,000) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ($304.000) 65 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $1,038,695 $102,695 22,858 12,858 1,061,553 115,553 116,698 33,302 583 (583) 117,281 32,719 944,272 148,272 (1,100,000) — 934 934 ,099,066 934 ($154794) $149206 City of Cape Girardeau, Wssourl CAPITAL IMPROVEMENT SALES TAX SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30. 1994 BUDGET ACTUAL $1,426,938 56,154 1,483,D92 467 467 1,482,625 (1,284,579) 1,485 (1,283,094) $199531 VARIANCE FAVORABLE (UNFAVORABLE) $100,074 T654 109,728 25,000 (467) 24,533 134,261 1,485 1,485 $135 746 REVENUES Taxes $1,326,864 Interest 46,500 TOTAL REVENUES 1,373,364 EXPENDITURES Current PubllG works 25,000 Debt Service Interest and llsoal oturges — TOTAL EXPENDITURES 25,000 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1,348,364 OTHER FINANCING SOURCES (USES) Operating transfers out (1,284,579) Gain on sale ot securllles — TOTAL OTHER FINANCING SOURCES (USES) (1,284,579) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $63785 66 $1,426,938 56,154 1,483,D92 467 467 1,482,625 (1,284,579) 1,485 (1,283,094) $199531 VARIANCE FAVORABLE (UNFAVORABLE) $100,074 T654 109,728 25,000 (467) 24,533 134,261 1,485 1,485 $135 746 + City Of Cape Girardeau, Mssourl FLOOD PROTECTION SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) + FOR THE FISCAL YEAR ENDED JUNE 30, 1994 + VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Interest $200 $125 ($75) + Mscellaneous — — — TOTAL REVENUES 200 125 (75) EXPENDITURES Current Administrative senAces 3,000 — 3,000 TOTAL EXPENDITURES 3,000 — 3,000 + EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (2,800) 125 2,925 + OTHER FINANCING SOURCES (USES) — — — TOTAL OTHER FINANCING SOURCES (USES) — — — EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES + OVER EXPENDITURES AND OTHER FINANCING USES (52800) $125 $2,925 67 City of Cape Girardeau. M9ssourl VISION 2000 SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE W. 1994 BUDGET 68 ACTUAL $3,466 153 3,619 5,689 5,689 (2,070) ($2,070) VARIANCE FAVORABLE (UNFAVORABLE) ($6,634) (147) (6,781) 4,311 4,311 (2,470) $2 470) REVENUES Mscellanecus $10,100 Interest 300 _ TOTAL REVENUES 10,400 EXPENDITURES Current Development services 10,000 TOTAL EXPENDITURES 10,000 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 400 OTHER FINANCING SOURCES (USES) — TOTAL OTHER FINANCING SOURCES (USES) — EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $400 68 ACTUAL $3,466 153 3,619 5,689 5,689 (2,070) ($2,070) VARIANCE FAVORABLE (UNFAVORABLE) ($6,634) (147) (6,781) 4,311 4,311 (2,470) $2 470) City of Cape Girardeau, Missouri DEBT SERVICE FUND COMPARATIVE BALANCE SHEET JUNE 30, 1994 AND 1993 a 1994 $169,117 9,560,939 14,653 454,593 33,539 $10,232,841 465,646 465.646 9,767,195 9,767,195 $10,232,841 1993 $287,699 9,607,008 20,183 466,559 9,829 $10,391,278 $31,461 500.132 531,593 9,859,685 9,859,685 $10 391 278 ASSETS Cash and cash equrvalents Investments Receivables, net of allowances for doubtful receivables Real estate, personal property and merchant taxes Special assessments receivable Interest receivable Total assets LIABILITIES AND FUND EQUITY Interest payable Deterred revenue Total liabilities Fund Balance Reserved Unreserved Total fund equity Total liabilities and fund equity a 1994 $169,117 9,560,939 14,653 454,593 33,539 $10,232,841 465,646 465.646 9,767,195 9,767,195 $10,232,841 1993 $287,699 9,607,008 20,183 466,559 9,829 $10,391,278 $31,461 500.132 531,593 9,859,685 9,859,685 $10 391 278 I i f 1 1 1 1 1 l 1 1 i 1 1 i 1 1 1 i City of Cape Girardeau, Missouri CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET June 30, 1994 (With Comparative Totals for June 30, 1993) General Corp Capital Flood Street FAU Street CDBG Park Totals Improvement Control Improvements Grants Grant Improvements 6-30-94 6-30-93 ASSETS Cash and cash equivalents $228,994 $2,140,452 $945,524 $318,752 $80,160 $- $3,713,882 $6,034,727 Investments 2,484,359 206, 000 1,123,752 - - 99,000 3,907,111 1,368,14] Grants receivable 129060 - - - - - 129,060 31,007 Special assessments receivable - - 168,800 20,337 - - 189,137 243,321 Interest receivable 12,181 8,467 10,231 - - 204 31,083 16,077 OtherrocsWbles - - - - - - - - Notesreceivable - - - - 16,130 - 16,130 20,163 Due from other funds - - - - - - - - 0 Total assets $2.854.594 $2.348919 $2 448307 $3390_89 $96290 $99204 $7986403 $]713442 LIABILITIES AND FUND EQUITY Account, payable $145,688 $161 $107,510 $2,277 $12,127 $21,046 $288,809 $126,946 Interest payable - - - - - - - - Otherliabilities - - - - 9,942 - 9,942 - Duetoothergovernments - - - - 1,000 - 1,000 1,00a Due to other funds - - 114,711 - 52,245 13,026 179,982 76,734 Deferred revenue 168,719 20,337 189,056 243,710 Total liabilities 145,688 161 390,940 22,614 75,314 34,072 668,789 448,390 Fund balance Reserved 2,979,795 1,640,907 2,168,846 7,780 109,006 - 6,906,334 5,444,517 Unreserved (270,889) 707,851 (311,479) 308,695 (88,030) 65,132 411,280 1820,535 Total fund equity 2,708,906 2,348,758 1,857,367 316,475 20,976 65,132 7,317,614 7,265,052 Total liabilities and fund equity $2,854599 $2948919 $2,240,307 $339.089 $%290 $99204 $7986403 $7,713442 1 1 f I If i 1 i 1 1 1 1 1 1 1 1 1 1 1 City of Cape Girardeau, Missouri CAPITAL PROJECTS FUNDS COWINING STATEMENT OF REVENUES, EXPENOXTURES AND CHANGES IN FWD BALANCE FOR THE FISCAL YEAR ENDED JUNE W. 1994 GENERAL CORP FAU CAPITAL R -Om STREET STREET COBG PARK TOTALS IMPROVEMENT CONTROL IMPROVEMENTS HANTS GRANT IMPROVEMENTS 11NO-1994 REVENUES Intergovernmental $524,3 ,l $- $- $23,564 $175,764 $- $723,692 Mscellaneas - - - - - 21,046 21,046 Ir1[aest 122,852 80,437 1081619 14,669 2,416 2,981 331,994 TOTAL REVENUES M7,1 W W,437 106,619 38,253 178,200 24,027 1,076732 EXPENDITURES (APlial allay 1,644,106 255,207 806,246 39,284 270,769 69,522 3,065,134 Debt eervice Intereetanoliwalcher9es 17,065 60,283 64 790 1% 98,398 TOTAL EXPENDITURES 1,661,171 255,207 886,529 39,346 271,559 a 318 3,183,532 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 11,013,975) (174,770) (m,910) (1,0957 193,aw (45691) (2,106,800) OTHER FINANCING SOURCES (USES) Operating 4anelere in 320,000 - 500,000 - 25,543 100,000 945,543 Operating tansfereout - - (1,256,813) - - (51,535) (1,308.346) Speclsl asseaemt. - - 47,141 5,084 - - 52,225 R -seeds of de0 tnwdng - - 2,389,500 - - - 2,389,500 Proceeds Iran fool assets - - - - - 78,150 78150 Gain on sale of secudtle$ 382 1,316 594 2,292 TOTAL OTHER FINANCING SOURCES (USES) 320,000 382 1,681,144 5,678 25,543 128615 2,159,362 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (693,065) (174,318) 903,234 4,563 (67,816) 80,924 52,562 FUND BALANCE AT BEGINNING OF YEAR 3,330,393 2,523,146 954,133 311,692 88)92 (15,792) 7,192,564 RESIDUAL EQUITY TRANSFERS IN - AIRPORT FUND 72,468 72.488 TEND BALANCE AT END OF YEAR $2,708,906 $2, 756 $1857%7 $316475 $20976 $65,132 $73176ta ,. City of Cape Girardeau, Missoml GENERAL CAPITAL IMPROVEMENT FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $524,344 $182,680 122,852 121,852 647,196 BUDGET 1,859,103 611,371 17,065 (17,065) REVENUES 594.306 Intergovernmental $341,664 Interest 1,000 TOTAL. REVENUES 342,664 ' EXPENDITURES Capital outlay 2,470,474 Debt service Interest and fiscal charges — TOTAL EXPENDITURES 2,470,474 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (2,127,810) OTHER FINANCING SOURCES (USES) Operating transfers In 390,000 Operating transfers out — Proceeds of debt financing — Proceeds from flied assets — TOTAL OTHER FINANCING SOURCES .. (USES) 390,000 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ($1,737,810) 72 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $524,344 $182,680 122,852 121,852 647,196 304,532 1,859,103 611,371 17,065 (17,065) 1.876.168 594.306 (1,228,972) 898,838 320,000 (70,000) 320,000 (70,000) u1: City of Cape Girardeau. fAssorrl CORP FLOOD CONTROL CAPITAL PROJECT FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) + FOR THE FISCAL YEAR ENDED JUNE 3a, 1994 + VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Interest $115,000 $00,437 ($34,563) Miscellaneous — — — TOTAL REVENUES 115,000 80,437 (34,563) + EXPENDITURES Capital outlay 2,312,500 255,207 2,057,293 Debt seMce Interest and fiscal charges — — TOTAL EXPENDITURES 2,312,500 255,207 2,057,293 + EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (2,197,500) (174,770) 2,022.730 OTHER FINANCING SOURCES (USES) Operating transfers out — — — Gain on Sale of securities 382 382 + TOTAL OTHER FINANCING SOURCES (USES) — 382 302 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND + OTHER FINANCING USES ($2197500) ($174388) $2023112 + 73 74 r City of Cape Girardeau, Missourl STREET IMPROVEMENTS FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Interest i $65,000 $108,619 $43,619 TOTAL REVENUES 65,000 108,619 43,619 EXPENDITURES Capital outlay 1,984,000 1,098,281 885,719 Debt service Interest and fiscal charges — 80,283 (80283) TOTAL EXPENDITURES 1,984,000 1,178,564 805,436 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,919,000) (1,069,945) 849,955 OTHER FINANCING SOURCES (USES) Operating transfers In 500,000 500,000 — Operatingtrarsfersout (1,255,548) (1,256,813) (1,265) Proceeds of debt financing — 2,369,500 2,389,500 Gain on sale of securities — 1,316 1,316 $pedal assessments 580,000 47,141 (532,859) TOTAL OTHER FINANCING SOURCES (USES) (175,548) 1,681,144 1,856,692 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ($2094548) $611,199 $2705747 74 City of Cape Girardeau, A9ssoul FAV STREET GRANTS FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE a0, 1994 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Intergovemmentai $380,000 $23,564 ($356,438) Interest 13,000 14,689 1,689 TOTAL REVENUES 393,000 38,253 354,74 EXPENDITURES Capital outlay 550,000 47,064 502,936 Debt senAce Interest and fiscal charges — 64 (64) TOTAL EXPENDITURES 550,000 47,128 502,872 EXCESS (DEFICIENCY) OF REVENUES _ OVER (UNDER) EXPENDITURES (157,000) (8,875) 148,125 OTHER FINANCING SOURCES (USES) Special assessments 5,000 5,084 84 Gain on sale of secultles — 594 594 TOTAL OTHER FINANCING SOURCES (USES) 5,000 5,678 678 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ($152000) ($3197) $148,803 75 City Of Cape Girardeau. Missouri + COMMUNITY DEVELOPMENT BLOCK GRANT FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE W. 1994 BUDGET ACTUAL 76 $175,784 2,416 178,200 304,069 790 304,859 (126,659) 25,543 25,543 VARIANCE FAVORABLE (UNFAVORABLE) ($24,216) 916 (23,300) (104,069) 210 (103,859) (127,159) 15,543 15,543 ($101,116) ($111,616) REVENUES Intergovernmental $200,000 Interest 1 500 + TOTAL REVENUES 201,5D0 EXPENDITURES Capital outlay 200,000 Debt seMce Interest and flswl charges 1,000 TOTAL EXPENDITURES 201,000 .. EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 500 + OTHER FINANCING SOURCES (USES) Operating transfers in 10,000 TOTAL OTHER FINANCING SOURCES + (USES) 10,000 EXCESS (DEFICIENCY) OF REVENUES + AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $10,500 76 $175,784 2,416 178,200 304,069 790 304,859 (126,659) 25,543 25,543 VARIANCE FAVORABLE (UNFAVORABLE) ($24,216) 916 (23,300) (104,069) 210 (103,859) (127,159) 15,543 15,543 ($101,116) ($111,616) City of Cape Girardeau, Mtssourl PARK IMPROVEMENTS FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $21,046 $21,046 2,981 2,481 24,027 23,527 69,522 (34,522) BUDGET (196) 69,718 (34,718) (45,691) (11,191) REVENUES — (51,535) Mscellanecus $— 78.150 Interest 500 TOTAL REVENUES 500 EXPENDITURES Capital outlay 35,000 Debt senAce Interest and fiscal charges — r TOTAL EXPENDITURES 35,000 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (34,500) OTHER FINANCING SOURCES (USES) Opera0ng transfers h 100,000 Operating transfers out (51,535) Proceeds hom fixed assets TOTAL OTHER FINANCING SOURCES (USES) 48,465 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $13,965 77 VARIANCE FAVORABLE ACTUAL (UNFAVORABLE) $21,046 $21,046 2,981 2,481 24,027 23,527 69,522 (34,522) 196 (196) 69,718 (34,718) (45,691) (11,191) 100,000 — (51,535) — 78.150 78.150 126,615 78,150 $80,924 $66 959 Clty of Cape Glrardeau, Missouri ENTERPRISE FUNDS COMBINING BALANCE SHEET June 30, 1994 (With Comparative Totals for June 30, 1941) Solid Golf Tonle Seger Water Waste Course 6-30-94 6-30-93 ASSETS Cash and cash equivalents $620,457 $531,849 $198912 $24,504 $1,375,722 $909,048 Iova5nents 843,893 193,755 - - 1,037,648 599,953 Ltllity charges receivable (net of allowance for dcublfu l receivables) 369,439 506,W5 252, 840 - 1,129,144 1.129,912 Grants receNable - - - - - - SpedaJassessmentsrenebable 37,479 - - - 37,479 4$284 narestrecemable 21,679 14,812 2.936 - 39,427 45,403 Otherneceilebles 6,741 18,020 44,726 508 69,995 9,479 Imentorlas - 150,386 - 6,218 156,074 16Q872 Resvicted ossa¢ Cash and rash equivalents 1965,038 948,788 3,275 - 2,817,101 2.404,520 Investments 433,058 1,106655 121,454 - 1,663567 2,266,096 hepad eqnenses 1881375 159,8]6 15.659 91 364.031 313223 4,386,159 3,633006 640,202 31,321 8,69'688 7,894,780 Propary, Alam and equipment Larrl 135,969 - 55,921 - 191,790 191,790 Buildings 8,156,627 198,266 703,835 1,500 9,060,278 9,025,912 mpo.emertts other buildings 17,044,430 9,076,665 83,121 327,139 26931.355 23,027,910 Equipment 749,168 44,959 1,597,762 319,052 3,110,941 2,948,840 Constructor In lragasa 270,113 34778 304,m1 2,481,858 26,356,207 9)54,668 2,440,689 647, �l 39.199,255 37,676,310 Less a¢umulated darecnmcn 8,082,436 581.842 1,467.326 309,879 10441483 9,297,289 a 18,273,771 9,172,826 973,353 337,612 28.757,772 28,379,021 Total assets $22659930 $12905832 $1613565 A361✓_133_ $37448460 $3693901 LINBIITIES AND FLNm EGD" PCmums dayable $147,828 $330,434 $352933 $13,166 $644,361 $731,758 Accrued Ilattill S Sa[vles, payroll taxes and beneftts 48,165 2,012 46,674 15,933 112784 ID8cE6 Intaestpayable 89,907 253094 10,062 - 353,063 390,339 Omer llebllitles 34,364 101,93 272 349 136,278 101,257 Due to other funds - - - - - 12,044 Due to Other governments 6,310 118,594 - - 124,904 29,826 Advance from oVler funds 337,500 - 950,000 435,000 1,722,500 1,722,500 Covent porton of long-term rent 487,469 115,000 130,292 - 732761 470,486 Long -tam debt net of anent pavan Revenue bonds payanle 4,058,913 11,598,331 - - 15,657,244 15,325,50 Lease punclase odllgaldn payable - - - - - - Leasehold revenuabonds payade 2,724,070 - 53,895 - 3,258,965 3,696,286 Estimated landfill closure and post -closure cera cost liability - - 2,132,227 - 2,132,227 - Dafaredre nue r Total liabilities 7,934,546 12,518738 4,157,355 464,448 25,075,087 22588,103 Fund equity Contributed capital 14,645,957 218,325 287,99 - 15,151,561 14,575,528 Retaned earrings Resavat 25,000 - - - 25,000 16,667 urreserved 54.427 68769 2,831.69 95,31 12,803188) (90649) To@I fund equity 14,725,384 287,094 2,543790 95,37 12,373,373 13,685,698 Toni liabilities and fund equity $22659930 $12805832 $1,613565 $369,133 $37448460 136-93801 _ 78 79 City of Cape Girardeau, Missouri ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE FISCAL YEAR ENDED JUNE 30, 1994 as TOTALS SEWER WATER SOLID WASTE GOLF COURSE 1993-1994 OPERATING REVENUES Residential charges $1,407,55] $2,050,362 $1,278,556 $- $4,736,475 Commercial charges 867,737 1,285,805 453,132 - 2,606,674 Transfer station charges - - 490,215 - 490,215 Equipment sales - - - 10,143 10,143 Can .... ion revenuee - - - 60,475 60,475 Golfcourse fees - - - 357,086 357,086 se Other fees and charges 30.072 152,285 42,247 - 224,605 interdepartmental services - - - - - Rental revenue - - - - - Donations - - - 100 100 Other miscellaneous 8,828 9,511 7,320 479 26,139 TOTAL OPERATING REVENUES 2,314,195 3,497,963 2,271,471 428,284 8,511,912 OPERATING EXPENSES Personnel se Mees 675,382 60,692 860,340 182,784 1,779,197 Materials and supplies 67,191 71,140 49,516 45,004 232,851 Contractual services 177,352 2,172,952 692,254 24,456 3,067,015 General operating expenses 41,884 240,199 47,562 42,199 371,844 Special projects expense 27,216 (8,383) 34,273 1,759 54,864 Internal service expenses 76,902 19,919 221,675 33,406 351,902 Depreciation expense 661,023 288,022 253,604 35,641 1,238,289 r TOTAL OPERATING EXPENSES 1,726,950 2,844,540 2,159,224 365,249 7,095,962 OPERATING INCOME (LOSS) 587,245 653,423 112,247 63,035 1,415,950 NON-OPERATING REVENUE (EXPENSES) Interest income 164,346 13,190 9,112 491 310,139 se Federal granter 43,499 - 1,884 - 45,384 State grant. - 1,939 - - 1,939 Sale of fixed assets - - 17,930 - 17,930 Compensation for damages 3,500 430 144 - 4,074 Gain on sale of securdles 3,313 18,137 1,180 - 22,630 Issuance cost amortization (29,710) (11,979) (3,949) - (45,638) Interest and handling costs (430,599) (768,71 Or (66,980) (12,903) (1,279,192) TOTAL NON-OPERATING REVENUE (EXPENSES) (245,650) (623,993) (40,678) (12413) (922,734) NET INCOME (LOSS) 341,595 29,430 71,568 50,623 493,216 r RETAINED EARNINGS (DEFICM AT BEGINNING OF YEAR 9,16,750 39,339 (240,893) (145,938) 8,819,258 PRIOR PERIOD ADJUSTMENT (9,428,918) (2.661744) (12,090.662) RETAINED EARNINGS (DEFICIT) AT END OF YEAR $79427 $68,769 ($2,831,059) ($95315) 1$27781887 79 City of Cape Girardeau, Missourl ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS I OR THE FISCAL YEAR ENDED JUNE 311, 1094 + SOLID GOLF TOTALS SEWER WATER WASTE COURSE 1993-1994 CASH FLOWS FROM OPERATING ACTIVITIES: Cpaatlng income( loss) $587,245 $653,423 $112,247 $63,035 $1415,950 + Adjustments to reconcae operating income to net rash provided by operating activities: Depecetion 661,023 289,022 253,604 35,641 1,238,290 Cash operating gems received 43,499 1,939 1,884 - 47,322 + Change in assets and liabilities: (Inaesse) deaeese In accounts receivable (59,980) 14,649 46,634 (109) 1,194 (Increase) decrease In Inventory - 13.288 - (3,020) 10,268 (Increase) decease In pecold expenses (54,096) 8,398 (4.989) (91) (50,778) Increase (d sR.) in accounts payable (155,200) 207,560 195,499 (17,201) 230,658 + 1terser so(pacrease) I n accrued llahi ll ties (28,666) (476) (7.147) 3.711 (32,578) Intrease (decease) In a..^,d ll paStClo50re core Costs - - (249,347) - (249 347) NET CASH PROVIDED BY OPERATING ACTIVITIES 993,825 1,186,803 348.385 81,966 2,610,979 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Opopong transfers In from other Ends - NET CASH PROVIDED BY NONCAPITAL FINANCING - - - - - ACTIVITIES CASH ELMS FROM CAPITAL AND RELATED FINANCING + ACTIVITIES: FYe.ws tram doothpas 200,200 - - - 200,200 PrticeeJs nom SEE tend Issue 487,024 - - - 487,024 Principal paid on reverre bonds (20,000) (25,000) - - (45,000) + Prineiral pald an lease purchase ponds (303,068) - (118,026) - (421,(X4) Interest paid m Bonds and obligations (406,890) (/80,345) (41,523) - (1,206,758) Proceeds bom rapttal grants received tom enter gocernmeMs 40,675 - 7,109 - 47,784 Purchase of Toed assets (798,133) (413,082) (tOQ784) (45,050) (1,357,049) Other 64.544 12228 21,496 12,903 85,365 + NET CASH USED IN CAPITAL AND RELATED FINANCING ACTIVITIES 35,648 1,186,199 (231,728)57,953 2,2( 11 528) + CASK FLOWS FROM INVESTING ACTIVITIES: Purchase ollrnestrnents (1,474,754) (1,401,215) (121,854) - (2 W7,823) Proceeds from sale of io,estmems 1,338729 1,709,729 119,029 - 3,167,487 Interest on imestarems 1Sol 46 136,190 9,112 491 310,139 NET CASH USED IN INVESTING ACTIVITIES 28,321 44si 7N 6,207 491 479,803 INCREASE IN CASH AND CASH ECUIVALENTS 286,498 445,308 122944 24,504 879,254 + CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 2,198,997 1,(Y35,329 79,243 3,313,569 CASK AND CASH EQU WALENTS AT END OF YEAR $2,485,495 $1 480 637 $2(12187 $24,504 $4,192,823 CASH PAID DURING THE YEAR FOR INTEREST $ MIS)0 $760,345 $41,523 - $1,208,758 NDN -GASH CAPITAL FINANCING ACTIVITIES: Contribution, of fixed assets $154,026 - - - $154,026 + City of Cam Grardeau, Mssourf SEWER FUND SCHEDULE OF REVENUES AND EXPENSES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDEO.LAE 3, 1994 81 VARIANCE FAVORABLE BLUGETT ACTUAL (UNFAVORABLE) OPERATING REVENUES Residential charges $1,223,250 $1407,557 $184,307 Cammac®I charges 892500 867,737 (24,763) Omer fees and charges 42,000 30,072 (1 I'we) O armiscellanaous 5000 81828 3,828 TOTAL OPERATING REVENUES 2,162]50 2,314,195 151,445 OPERATING EXPENSES Personnelsa'vlws 67;616 675,382 (2766) Nataiels and supplies 73,756 67,191 6,565 Corm .1 serNces 185818 180,328 5,490 Cenral oPaating melenses 27,801 41,884 (14,083) Speclel onniects a .nee 170,500 27,216 143,264 Internal savlce �ense 76,189 76,802 (713) Wpeciatlan e>q�ense 681165 681,023 20,632 TOTAL OPERATING EKI'ENSES 1,888,335 1,729,926 158,409 OPERATING INCONE (LOSS) 274,415 584,269 309,854 NON-OPERATING REVENUE (EXPENSES) Imereminmme 185,000 164,346 (654) Federal gents - 43,499 43,499 Compensationb camages - 3,500 3,500 Gain on sale of securities - 3,313 3,313 Issuance oost amortization (17,135) (29,7101 (12,575) Interest and handling costs (45073Q (43,599) 2,131 TOTAL NON-OPERATING REVENUE (EXPENSES) (302,865) (245,65, 57,215 NET INCOAE Q_OSS) ($28.452 $338.618 $367068 81 City of Cape Gd dsau, Mssoutl WATER FUND SCHEDULE OF REVENUES AND EXPENSES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1994 VARIANCE FAVORABLE BUDGET ACTIAU. (UNFAVORABLE) OPERATING REVENUES Residemlal charges $2,050000 $2,050,362 $362 Onmme'cal charges 1,306,000 1,285,805 (20,195) Other fees and charges 113,000 152285 39,285 + Offner miscellaneous 4,000 9,511 51511 TOTAL OPERATING REVENUES 3.473,000 3,497.963 24,963 + OPERATING EXPENSES Personnel savnoes 63.632 60,692 2,940 Vaterials and supoles 1,900 71,140 (69,24) Caot,o9 lservices 2.138,100 2,173,121 (35,021) Geneml operating axnanses 248,000 240,199 7,801 + Special polacts eManse - 10,917 (10,911) ImsofW ss vnw emanse 11,655 19,919 (81264) Gepacia0on e%pen5e 295,560 288,022 7,538 + TOTAL OPERATING EXPENSES 2,158,841 2,864,009 (105,163) OPERATING INMW (LOSS) 114,153 633,:54 (W 200) NON-OPERATING REVENUE (EXPENSES) + Imerawncoma 125,000 136,190 11,190 Federal gams - - - Smte gams - 1,939 1,939 Compensation for damages - 430 430 + Gain on sale of 9.Icpltlee - 18,131 18,131 Issuance wst amortlzatlpn (11,960 (11,919) 1 Inm standhondlingcoM (168,800 (/68,110 90 + TOTAL NON-OPERATING REVENUE (EXPENSES) (655,180 (623,9931 31,181 NET INCOME X055) $58.313 $99611$484131 82 83 City of cape Gl rdcau, Missouri SOLID WASTE FLND SCHEDILE OF REVEWES AND EXPENSES- a1DGET AND ACTUAL (BUDGET BASIS) FOR TFE FISCAL YEAR ENDED JUKE 30, 1994 VARIANCE FAVOHAB F am= ACTUAL (UNFAVORABLE) OPERATING REVENIES Resltlentlal cfnrges $1252,930 $1,278,556 $25,86 COmmecal charges 490,000 453,132 (36,868/ Transfer 5amn ctmrges 454,140 49,215 36,075 ONa fees end charges 40,000 42,247 2,247 ONer miscellane0us 1000 7,320 6,320 TOTAL OPERATING FE-VENUES 2,238,070 2,271,470 33,400 OPERATING EXPENSES Personnel services 808,516 860,340 (51,824) Mmtenals end su(plles 59,685 49,516 10,169 CorracRelsaNces 724,175 692,254 31,821 General operating ewenses 34,065 47,562 (13,497) Special projects mense 50.700 34,273 16,427 Imanal sa noe ewense 268,933 221,675 47,258 Deaeciatlon amens. 252798 253,636 (806) TOTAL OPERATING EXPENSES 2.193,772 2,159,224 39,548 OPERATING INCOME (LOSS) 39,298 112,247 72,948 NON-OPERATING REVEWE "&ENSES) Imagist Income 12,000 9,112 (2,8881 Federal galls - 1,884 1,884 Scam Warns Sale of Ned assets - 17,930 17,930 CAmpensatlon b damages 1,000 144 (856) Gain on cele of seoaNes - 1,1&1 1,180 Issuance cost amortlmtlpn (2,630 (319441 (1,3191 Intaemandhandlingcosts (82,650 (66,9110 15,670 TOTAL NON-OPERATING REVFNIE (BWENSES) (72,2e01 (40,67) 31,601 NET INCOME (LOSS) (592,932 $71,568 $104.549 83 84 Cm of Cape Glo rdmu. Msswd DOLE COLI SE FUND SCYIEOLLE OF REVENUES AND EXPENSES- BUDGET AND ACRAL (BUDGET BASIS) FOR TFE FISCAL YEAR ENDED JUNE W. I904 VARIANCE FAVORAg BUDGET ACTUAL (UNFAVOHABLE) OPERATING REVEFDES EquipmeM sales $15,000 $10,143 ($4,8571 Concessbnre nues 66,000 60,475 (1,525) Golfmrr5efee5 339,c00 357,066 18,086 Ccna➢ons - 100 100 Cm2) mlxellaneous 2,000 479 (1,521) TOTAL DPEMTING FEVENUES 424,000 428,264 4.283 OPERATING EXPENSES Personnel S"Ms 180,214 182784 (2,5701 Wmals and supplies 5Q365 45,248 11,117 GOING l5"ces 25,040 26,051 (3,011) GeneRl opamtng e>40an.e KIM 42,199 8,601 Special Re(ecfs expense 10,000 1,759 8,241 IManal s". expense 37,300 33A06 3,894 Depzciaton expense 35,239 35,641 (402) TOTAL OPERATING EXPENSES 394,558 369,088 25,870 OPERATING INCOW (LOSS) 29,042 59,196 30,153 NON-OPERATINGRE WE(EXPENSES) lma vinccme 200 491 291 Issuance meta or6za6on - - - Irnaestandhandlingcosts (16,4501 (12,903) 3,547 TOTAL NON-OPERATING REVENUE (EXPENSES) (16,25q (12,412) 3,838 NET INCOW DOSS) $12792 $46,784 $33 f1 84 I City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET as June 30, 19M (With Comparative Totals for June 30, 1993) Employees' Data Fleet Fringe Risk Totals Processlnq Man ... meet Benefit Man... front 6 -30 -FM 6-30-93 as ASSETS Cash and cash equivalents $6,979 $96,770 $253,144 $35,803 $446.696 $407,130 Investments 99,000 10,000 749,394 279,843 $1,228,237 781,952 Interest receivable - 1,981 11,102 1,579 14,662 3,330 + Other receivables - 1T753 137 - 17,890 97,614 Inver¢ories - 7,921 - - 7,921 14,350 Prepaid etpenses 54,702 895 - 67,453 123,050 121,406 Due hour other funds 225.503 214,681 225,320 1,013,777 384,678 1,838,456 1,651,255 Properly, plant and equipment + Land - 37,500 - - 37,500 37,500 Buildings - 363,214 - - 363,214 365,114 Improvements other buildings - 26,851 - - 26,851 26,850 EquipmeM 804310 153,544 - - 957,854 876,062 804,310 581,109 - - 1,385,419 1,306526 Lessaccumulated depreciation 393,002 264.639 - - 657,641 53&017 + 411,308 316.470 727,778 7]2,509 _ Total assets $625,989 $541790 $1,01377 $384,678 $2,566234 $2.423]64 LIABILITIES AND FUND EQUITY Accounts payable $12,788 $50,862 $145,787 $150,616 $360,053 $138,902 + Accrued liabilities Seianes,payroll tares and benefits 4,662 21,283 - - 25,945 24,492 Other liabilities - 42 - - 42 40 Due to other funds - - 225,503 as Total liabilities 17,450 772,18] 145,]8] 150,616 386,040 436,937 Retained earnings Reserved - - - - - - Unreserved 608,539 469,603 867,990 234,062 2,180,194 1,984,827 Total fund equity 6CQ539 469,603 867,990 234,062 2180,194 1,984,827 + Total liabilities and fund equity $625989 $541,790 $1,013,777 $384,678 $2,566234 $2,423,764 I City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING STATEMENT' OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE FISCAL YEAR ENDED JUNE W. 19&4 a EMPLOYEES' DATA FLEET FRINGE RISK TOTALS PROCESSING MANAGEMENT BENEFIT MANAGEMENT 1993-1994 OPERATING REVENUES Interdepartmental services $234,181 $714,740 $754,373 $582,588 $2,285,882 Other miscellaneous 82 44 19 TOTAL OPERATING REVENUES 234,264 714,784 754.373 562,588 2,286,009 OPERATING EXPENSES r Personnel semces 47,328 345,414 - - 392,742 Materials and supplies 2,866 22,544 - - 229,430 Contractual semces 89,397 125,204 782,227 370,710 1,370,538 General opera6n, expenses 553 850 1,255,548 15,855 1,272,806 .� Internal service expenses - 3.2% - - 3,2% Depreciation expense 1001586 25,929 126515 TOTAL OPERATING EXPENSES 240,751 730,239 2,037,775 386,565 3,39,39 OPERATING INCOME (LOSS) (6,487) (15,455) (1,263,402) 196,024 (1,109,320) NON-OPERATING REVENUES (EXPENSES) Interest income 4,023 5,560 26,643 11,480 47,726 Sales of fixed assets (904) 42 - - (862) Compensation for damages 3.2% 466 - - 3,761 Gain on sale of 5ecurtes - - 1,464 - 1,464 Interest and handling costa (1,337) (1,642) (2,949) TOTAL NOH -OPERATING REVENUES (EXPENSES) 6,414 6,088 261800 9,838 49,140 INCOME (LOSS) BEFORE OPERATING TRANSFERS (73) (9,367) (1,256,602) 205,861 (1,060,180) Operating transfers In - - 1,255,548 - 1,255,548 NET INCOME (LOSS) (73) (9,367) (1,054) 205,861 195,367 RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR 609,612 478,970 869,044 28,201 1,984,80 r RETAINED EARNINGS (DEFICfr) AT END OF YEAR 114508 ,539 $489,603 $867,990 $234.062 $21 B0,1 94 a 87 City of Cape Girardeau. Missouri INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS FOR THE FISCAL YEAR ENDED JUNE 30. 1994 EMPLOYEES' DATA FLEET FRINGE RISK TOTALS PRQCES9ING MANAGEMENT BENEFIT MANAGEMENT 1993-1994 CASH FLOWS FROM OPERATING ACTIVITIES: Operating income Bass) (87.391) ($15,455) ($1,283.402) $196,024 ($1,110,224) Adjustments 1. reconcile nperntin, incarnate net cash provided by .,.rating activities: Derecetion 100.586 25,929 - - 126.515 Cashoperating pnlasreceived - - - - - Change in assets add liabilities: (Incrmae) decrease in a cc. ants receivable - 13,214 276,792 3.859 293,865 (Increase) decrease in inventory - 6,429 - - 6,429 (Increase) decrease In repaid expenses (1,527) (55) - (62) (1644) Increase (decrease) in accounts payable 1,902 1.564 17,658 (75,474) (54,350) .� Increase (decse)in accrued liabilities (79) 1,532 - - 1453 Increase (decrease) in landfill pastomsure care costs NET CASH PROVIDED BY OPERATING ACTIVITIES 93,491 33,158 (980,952) 124,347 (737,956) as CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Operating Incident In horn other Finds 1,255,548 1 255,546 NET CASH PROVIDED BY NONCAPITAL FINANCING ACTIVITIES 1,255548 1.255.548 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVRRES: as Pmceedstom deadlopens - - - - - Froceedstom SRF band Issue - - - - - PrincilHlpaidonrevenueWnds - - - - - Pdncilnlpaidonlease purchase bonds - - - - - mlaestpaidanbondsandobligations - - - - - Noceedstom capital grams mceidedtrom other goyernmemt - - - - - Purchase offixed assets (e6,lat) (18419) - - (04,550 Chair 4,199 2,407 (1,0761 (1,679) 3851 NET CASH USED IN CAPRAL AND RELATED FINANCING _ ACTIVRIES6( 1,969) (16012) (1076) (1,579) (00,736) CASH FLOWS FROM INVESTING ACTVRIES: Purchase d investments (99,000) (100,000) (749,375) (99,000) (1,047,375) hoceedst.m seined investment, - - 602,359 - 602,359 Interest on imettmanb 4,023 5,500 26,643 11,400 47.726 NET CASH USED IN INVESTING ACTIVITIES9(4,977) (94,420) (120,373) (57.520) (697,290) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (60L55) (77,274) 145,147 35,140 39,566 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 124,434 174,044 107,990 654 407,130 r CASH AND CASH EQUIVALENTS AT END OF YEAR $6o.g7g $96.770 $253.145 $35.002 EN6 ase 87 City of (ape Gl a dmu, Visswd DATA PROCESSING FUN] SU EDULE OF REVENUES AND WENSES— BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE W. 1994 VARIANCE FAVORABLE BUDGET ACTUAL (INFAVORAB E) OPERATING REVENUES Imadwa enrol s"ms $231,769 $234,181 $2,412 Olhamlmellaneous BZ 82 TOTAL OPERATING REVENUES 231,]69 234263 2,494 OPERATING EXPENSES Pascmel se'vlres 41,272 47,328 944 Materials and supplies 3,500 2,886 614 (arNe l services W,000 89,397 (9,397) General operating mgsns3s 500 553 (53) Imernel ser ..wens. — — — Ceeraciationewanse 94,163 100,536 (6,423) TOTAL OPERATING EXPENSES 226,435 240,750 (14,315) OPERATING INCOME (LOSS) 5,334 (6,487) (11,821) NON—OPERATING REVENUE (EWENSES) lma.m income 2,000 4,023 2,023 Sale of @ dassets Compensation fQ 3,295 3,295 Imww and handling casts TOTAL NON—OPERATING REVENUE (EXPENSES) 2,000 6,414 4,414 NET INCOME LOSS) $7,334 ($73) ($7,407) C" of Cape ( wdmu, Mssmd REEF MANAGEMENT FWD SCHEDULE OF REVENUES AND E ENSES— BUuGET MD ACTUAL (BUuGu BAsls) FOR TEE FISCAL YEAR ENDED JUNE W. 1994 VARIANCE FAVORABLE BUDGET ACTUAL _(UNFAVORABLE) OPERATING REVENUES ImTdw .n S6 ms $631,798 $714,740 ($117,058) ONa ml�ellaneous 44 44 TOTAL OPERATING REVENUES &31,A 714,764 (117,014) UPERATING EXPENSES Personnel ser .4 35$W1 345,414 13,557 MatWals wd suWks 251,000 227,595 23,405 Contractuel Sa Ces 205,8X1 128,204 77,596 Ganar lopa tng e>IAenses 1,000 850 150 lmal service M.me 3,200 3,298 (98) DeReciatcn a> ense 23,214 25,929 (2,715) TOTAL OPERATING EXPENSES 843,185 731,290 111.E85 OPERATING INCOAE (LOSS) (11,38) (16,506) (5,119) NON—OPERATING REVENUE (EXPENSES) Interest inmme 6,000 5,S (420) Sale of fmatl assets — 42 42 Campanselion for tlemeges 6,000 486 (5,534) Ina wantl h.dingcaAs TOTAL NON—OPERATING REVENUE (EXPENSES) 12,000 6.066 (5,917 NET INCOME fLOSS) $613 ($10,418) ($11,031) ' City of Cape Girardeau, Mlssoud EI PLOYEES' FRINGE 13EWFUF FIND SCIiEOLLE OF REVENUES AND EXPENSES— ,� SuDGET AND ACRLIL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE W. 1884 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) + OPERATING REVENUES Interdepatrnenbl S"ces $717,000 $754,373 $3),3)3 Other misellaneous TOTAL OPERATING FEVENCES 717,000 754,373 37,373 OPERATING EIOPE SES Persodd eevlws — — — ,� Matelais and supalles — — — COnbaellHlsamces 605,000 782,227 (177,22) Genetalope nBegensus 1,255,548 1,255,548 — Intarnal s"ce a ense — — — DeReclat on expense TOTAL OPERATING EXPENSES 1,880,548 2,037,775 (177,22]) OPERATING INCOAE (LOSS) (1,143,548) (1,283,402) (139,854) NON—OPERATING REVENUE (EXPENSES) Inta'en[rcome 35,000 26,643 (8,357) Gan on sale of mcs tl6s — 1,464 1,464 Interest and handllnB costs (101 (1,30) 100,(03 TOTAL NON—OPERATING REVENUE (EXPENSES) (67,00q 26,800 93,800 INTONE (LOSS) BEFORE OPERATING TRANSFERS (1,218548) (1,256,602) (46,054) O pa n¢>ransfas In 1,255,548 1,255,548 NET INCUAE LOSS) $45000 1$1.0541 ($460541 90 ASSETS - Cash and cash equivalents Investments Rec eiv bl.a, net of allowances for dcubHul receivables Real ostate tax Personal propenytex Other receivables Interest receivable r Prepaid expenses Total assets 91 $- City of Cape Girardeau, Missouri $18,557 $10,749 as AGENCYFUNDS $15,343 $3,114 - Accrued liabilities COMBINING BALANCE SHEET 216,863 - Selanes, payroll taxes and bene(ns 7,2W June 30, 1994 901,051 Other liabilifies 20,510 46.975 (With Comparative Totals for June 30, 1993) 75,000 - 901,051 Deferredcompensetiondue employees Park - Deferred revenue Arena Deferred Development Totals Total liabilities Library Improvement Compensation Foundation 6-30-94 6-30-93 $90,258 $49,739 $- $153 $140,150 $299,662 196,696 - 901,051 - 1,097,947 6,606 19,768 - - - 19,768 20,951 2,353 - - - 2,353 5,946 159 - - - 159 534 1,552 - - - 1,552 - 7,474 3W - 7,824 7.165 $318460 $W 089 901051 153 $1269753 .$1,26884 91 $- LIABILITIES AND FUND EQUITY $18,557 $10,749 as Accounts payable $15,343 $3,114 - Accrued liabilities 247,538 216,863 - Selanes, payroll taxes and bene(ns 7,2W - 901,051 Other liabilifies 20,510 46.975 Advance from other funds 75,000 - 901,051 Deferredcompensetiondue employees - - Deferred revenue 20,357 $1026884 Total liabilities 318,460 50,089 r Fund balance Reee Ned Unreserved - - Total fund equity Total liabilities and fund equity $318.460 $W.089 91 $- $100 $18,557 $10,749 - - 7,250 7,490 - 53 247,538 216,863 - - 75,000 75,000 901,051 - 901,051 692,606 20,357 24,176 901,051 153 1, 263 753 1,026,864 $901.051 $153 $1026884 $1269753 92 City of Cape Girardeau, Missouri LIBRARY AGENCY FUND STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 Balance Balance July 1 1993 Additions Deletions June 30 1994 ASSETS Cash and cash equivalents $257,603 $538,048 $705,393 $90,258 Investments - 196,896 - 196,896 Recmables, net of allowances for doubtful receivables Real estale tax 20,951 313,208 314,391 19,768 Personal property tax 5,946 77,501 81,094 2,353 Other receivables 534 2,642 3,017 159 Interest receivable - 1,552 - 1,552 Prepaid expenses 7,185 8,507 8,218 7,474 Total assets $292,219 $1,138,354 $1.112,113 $318,460 LIABILITIES Accounts payable $10,528 $217,708 $212,893 $15,343 Accrued liabilities Salaries, payroll tares and benefits 7,490 217,968 218,208 7,250 Other liabilities 175,025 52,277 26,792 200,510 Advance from other funds 75,000 - - 75,000 Deferred revenue 24,176 376,228 390,047 20,357 Total liabilities $292,219 $864,181 $837,940 $318,460 92 93 City of Cape Girardeau, Missouri ARENA IMPROVEMENT AGENCY FUND STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 Balance Balance July 1, 1993 Additions Deletions June 30 1994 ASSETS Cash and cash equivalents $42,055 $36,069 $28,385 $49,739 Prepaid expenses 645 295 350 Total assets $42,055 $367148 680$50 089 LIABILITIES Accounts payable $221 $28,570 $25,677 $3,114 Other liabilities 41,834 28,767 23,626 46,975 Total liabilities $42,055 $57,337 $49,303 $50,089 93 94 City of Cape Girardeau, Missouri DEFERRED COMPENSATION AGENCY FUND STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE FISCALYEAR ENDED JUNE 30, 1994 Balance Balance July 1, 1993 Additions Deletions June 30 1994 ASSETS Investments $692,606 $208,445 $— $901,051 i Total assets $692606 $208445 $— $901,051 LIABILITIES Deferred compensatcn due employees $692,606 $208,445 $— $901,051 Total liabilities $692606 $208,445 $— $901,051 94 95 City of Cape Girardeau, Missouri PARK DEVELOPMENT FOUNDATION AGENCY FUND STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE FISCALYEAR ENDED JUNE 30, 1994 Balance Balance July 1 1993 Additions Deletions June 30, 1994 ASSETS Cash and cash equivalents $4 $153 $4 $153 Total assets $4 $153 $4 $153 LIABILITIES Accounts payable $— $101 $1 $100 Other liabilities 4 700 651 53 + Total liabilities $4 $801 $652 $153 95 City of Cape Girardeau, Missouri SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE June 30, 1994 GENERAL FIXED ASSETS Land $2,073,938 Buildings 4,245,509 Improvements other than buildings 1,774,058 Machinery and equipment 1,141,193 Contruction in progress 1,217,052 TOTAL GENERAL FIXED ASSETS $10,451,750 INVESTMENT IN GENERAL FIXED ASSETS BY SOURCE General fund $4,181,787 Special revenue funds 2,956,742 Capital projects funds 3,313,221 TOTAL INVESTMENT IN GENERAL FIXED ASSETS $10,451,750 96 ' City of Cape Girardeau, Missouri SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY June 30, 1994 Y Improvements Machinery Construction Other Then and in Function and Activity Lend Buildings Buildings Equipment Progress Total + ADMINISTRATIVE SERVICES City manager $209000 $140,728 $- $2,546 $- $343,274 Interdepartmental 67,340 - - 3,594 - 70,934 Finan. - 505 505 TOTAL ADMINISTRATIVE SERVICES 267,340 140,728 6,645 414,713 DEVELOPMENT SERVICES Manning services - - - 9,300 - 9.300 Inspecton services - - - 3,682 - 3.682 Engineering services 24,373 24,373 r TOTAL DEVELOPMENT SERVICES 37,355 37,355 PARKS AND RECREATION Perk maintenance 855,238 273,451 7,817 96,857 - 1,233,362 ' Recreation - - - 1,180 - 1,180 Cemetery 4,120 - - 16,477 - 20,597 Central pool - 708,388 - 7,139 - 715,527 Cecelia pool 363 363 r TOTAL PARKS AND RECREATION 859,358 981,839 7,817 122,016 1,971,029 PUBLIC SAFETY Municipal coon - - - 847 - 847 Health - - - 3,435 - 3,435 Police 17,500 312,463 - 157,695 - 487,658 Rm 210,950 991.643 527,619 1,730,212 TOTAL PUBLIC SAFETY 228,450 1,304,106 689,596 2,222,152 PUBLIC WORKS as Street - - - 188,604 - 168,604 Stormwaler - - - 68,437 - 68,437 Airport 354,649 246,506 1,600,968 24,034 2,226,237 TOTAL PUBLIC WORKS 354,649 246,586 1,600,968 281,075 2,483,278 CAPITAL OUTLAY Generel capital improvements 10,000 1,572,251 76,911 4,506 1,217,052 2,880,719 Park improvements 354,141 - 86,363 - - 442,504 TOTAL CAPITAL OUTLAY 384,141 1,572,251 165,273 4,506 1,217,052 3,323,223 TOTAL GENERAL FIXED ASSETS $2,073,938 $4.245,509 $1,774.058 $1.141,193 $1,217,052 $10,451,750 97 98 City of Cape Girardem, Miswud SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY FOR THE FISCAL YEAR ENDED JUNE 3, 1994 General Fixed General Fixed Function end Activit Ascete June 30 1993 Acidtons Deductions Trensfera To (From) Depm6wiion Expanse Aaaefe June 30 1184 ADMINISTRATIVE SERVICES CM mma9 $351,019 $2,195 $- $- $9,900 $343,274 Interdepsrtm.W 71,695 - - (1,917) (1,156) 70,934 Finmce 612 1W 505 TOTAL ADMINISTRATIVE SERVICES 423,326 2,195 (1,917) 8,891 414,713 DEVELOPMENT SERVICES Plmning servime - 10,420 - - 1,120 9,300 Inspedbn services 6,423 - - - Z741 3,662 Englmenng services 16,086 14,296 - 6, 0 24,373 TOTAL DEVELOPMENT SERVICES 22509 24,716 9,870 37,355 PARKS AND RECREATION Perk mam m m 1,255,426 37,672 - 1,917 61,653 1,233,362 Re..tbn 301 1,191 - - 312 1,180 Cemetery 24,321 - - - 3,724 20,597 Central pool 744,505 - - - 28,978 715,527 Cepehs pool 616 - - - 255 363 Ubay 539.942 - - (54W2) - - TOTAL PARKS AND RECREATION 2565,113 38,863 (538025) 94,922 1,971,029 PUBLIC SAFETY Municipal court - 949 - - 1G2 847 Heeflh 4,544 - - - 1,109 3,435 a Police 533,205 61,834 21,903 - 106,398 4H/,658 R. 1,771,602 73,115 114,546 1,73,212 TOTAL PUBLIC SAFETY 2309,391 165,&911 21,983 2211154 2222162 v PUBLIC WORKS Street 205,479 2],459 - - 44,334 186,604 SWimwatar 75,973 7,491 - - 15,027 68437 Aiporl Z357,505 131,268 2226,237 TOTAL PUBLIC WORKS 261,452 34,950 Z357,505 19,629 Z483,m CAPITALOUT AY Gemrsl capital improveme U 367,194 2510,805 1,105,572 1,162589 54,298 288,719 Parkimpov wft 408,480 39,046 5,022 442,504 TOTAL CAPITALOUTIAY 775,874 2549,851 1,105,572 1,162589 59,320 3,323223 TOTAL GENERAL FIXED ASSETS $E SZW6473 $1127555 X153 554784 $10.451]50 98 City of Cape Girardeau. Missouri SCHEDULE OF CHANGES IN LONG—TERM DEBT FOR THE FISCAL YEAR ENDED JUNE 30, 1994 a General General Long—term Long—term Debt Debt July 1. 1993 Additions Retirements June 30, 1994 GENERAL LONG—TERM DEBT Leasehold revenue bonds payable $11,398,713 $10,500,934 $8,495,449 $13,404,198 Certificates of participation payable 3,795,000 — 250,000 3,545,000 General obigatlon bonds payable 3,905,000 — 190,000 3,715,000 General obligatlon refunding bonds payable 7,270,000 — — 7,270,000 Accrued benefits 452,697 38,834 — 491,531 Due to other governments—State energy loan 99,872 544 6,758 93,658 TOTAL GENERAL LONG—TERM DEBT $26921282 $10540312 $8,942207 $28519387 I City of Cape Girardeau, Missouri STATEMENT OF GENERAL LONG—TERM DEBT JUNE 30, 1994 + AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE 11,543,913 PAYMENT OF GENERAL LONG—TERM DEBT LEASEHOLD REVENUE BONDS Amount available In debt service fund 3,545,000 Amount to be provided 3,715,000 CERTIFICATES OF PARTICIPATION — Amount available In debt service fund Amount to be provided GENERAL OBLIGATION BONDS 7,270,000 Amount available in debt service fund 491,531 Amount to be provided + GENERAL OBLIGATION REFUNDING BONDS 93,658 Amount available in debt Service fund Amount to be provided + ACCRUED BENEFITS Amount available In debt service fund Amount to be provided + DUE TO OTHER GOVERNMENTS—STATE ENERGY LOAN Amount available In debt service fund Amount to be provided + TOTAL AMOUNT AVAILABLE AND TO BE PROVIDED + GENERAL LONG—TERM DEBT PAYABLE Leasehold revenue bonds payable Certificates of participation payable General obligation bonds payable + General obligation refunding bonds payable Accrued benefits Due to other governments—State energy loan + TOTAL GENERAL LONG—TERM DEBT PAYABLE 100 $1,860,285 11,543,913 $13,404,198 403,057 3,141,943 3,545,000 3,715,000 — 3,715,000 3,788,853 3,481,147 7,270,000 491,531 491,531 93,658 93,658 $28519 387 $13,404,198 3,545,000 3,715,000 7,270,000 491,531 93,658 $28,519,387 SINGLE AUDIT SECTION 101 y Begley, Janssen, Young & Birk .r CERTIFIED PUBLIC ACOUNTANTS 2183 THEMIS ST -CAPE GIRARDEAU, MISSOURI 63101 TELEPHONE {314} 334-2B S . FAX (314) 334-4338' PAHi R JOHN H. JANSSEN, CPA TERRY R. BEGLEY, GPA JENNIFER WESTRICH LAWRENCE E. YOUNG, CPA INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF GRAY s. MARTIN "+ KELVIN W. BIRK, CPA FEDERAL FINANCIAL ASSISTANCE Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri We have audited the general purpose financial statements of the. City of Cape Girardeau, Missouri for the year ended June 30, 1994, and have issued our report thereon dated October 19, 1994. These general purpose financial statements are the responsibility of City of Cape Girardeau, Missouri's management. Our responsibility is to express an opinion on these genera]. purpose financial statements based on our audit. ., we conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of Office of Management. and Budget Circular A-12$, "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. 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. PAVZ- Cape Girardeau, Missouri October 19, 1494 102 I i 1 1 1 1 i 1 1 1 1 i i i 1 1 1 1 1 ,I,of Cape ci ra ra saw Missouri S CHBbul.tly OF 1.p B..t TINA NC IAL ABBISIc NCH Jnne 30, 1994 Federal CF OA Program Balance Revenue Dlshurs.... is/ Mean ce Federal Grantor/Pass-TM1mugh Grantor/Till. Number July 1, 1993 RewgnIS.B Expenditures June 30, 1994 Major Programa: Department of Transportation Federal Aviation Aam lnlstration Al Pport Improvement, Program 129-0%3-02 20.106 456,611 ( 28,952) 196,019 196,15B ( 29,491) All"rL Improvement Program 3-29-0013-04 20.106 530,959 601582) 229,219 259,685 ( 86,050) Airport Improvement " am I Us bull 05 20.106 g.tl.999 601,006) 1,339 3.442 ( 603,1091 Airport Improveme.L Program 3 29 0013-0] 20.106 202.209 ) 116,886 195,264 ( 2B,_98 Total Department of Trans Por 1-t— - Major Proy ra ms 1 690,590) 543.401 599.949 1 949,0001 Department, of Housing and Urban Oevelopmenl Passed through Mls... ri Department o1 BmnomicDevelopment Comm not t Neve l opm—L Block Grant 93 Be10 19.219 105,000 ( ) 5].933 69,695 1 12,9621 92-M1-16 ]q .219 460,000 ( 4A3, 259) 152,284 951,400 ( 342,395) Total .. Rajor Programs ( 443,259) 209.219 516,095 1 955,1391 Department of the In [Griot Federal Emefy9ncya Menagement Agency O Emergency As n e 83.516 - I62. 898 393,091 (10,193) W Total N.S. Nepartment of Interior 162,898 393,091 (100193) Total - Major Programs (1,133,999) 1,110,596 1,489,135 (1,512.338) Non Major Programs: Department of T natlon P ederal Avia Lfon ddminls Lra[lon I, it TPafflc Serelces 401,610 - 16;,269 16/,269 - Passed through Missouri Department o1 Public Safety Cape Cl ra rasa. Coenty Community Traffic Safety Program (1".11) 20.600 89,930 1 26,8491 28,093 43,293 ( 42,0991 Cape Girardeau C Sty C unity Traffic Safety Program (FY'94) 20.600 109,115 49,990 63,191 ( 20,1811 Passed Through the Nissan vl Highway and Transports Lion Department Off Sys Lem Bridge pop.......I and RehaLilitaticn Program Hopper Road 3ridpe I"Ject MRO-INM-016(18) 20.205 _2,600 - 26,384 411062 ( 14,6981 Public Tax] Coupon Transpor Latton Program No 18-%013 -4CC 20.509 92,861 ( 1.0291 62,865 208,569 ( 146,9281 MO 18 %014 4CC 20.509 95,009 165 1 1fi5) Total U.S- Department of Transportation - job ..,On Program. ( 29,8911 332,601 520,529 ( 223,999) 1 i 1 1 i f 1 1 1 1 1 1 i i 1 1 1 t 1 City of Cape Girardeau. MI ... url 9CIIEDDLE of PKINKA1, FINANCIAL ASSISTANCE June 30, 1994 Federal I'DA mg ram Balance Revenue Dis bu [se men la/ Balance Fede[nl 6 or/Paas-Through Gr.El.r/Title ...a, CUIY 1, 1993 Rec.,.—C] Expenditures June 30, 1994 Depa[tme al of Defense LL 5, Army Corps of Engineers Flood Control Pm Jec[ 12.106 § - j(6, 96 u.2 /81 $ j 249.836 $(6,]10,114) Total U.S. Department of Defense (6, 460. Z/tl) 249, tl36 (6.110,114) Depa r Lment of ....ing and Urban Oeve lDpme nt Paee ed [h rough Missouri Department of Economic Development Community Ue ve lopment Block Grant Rental Rehab R91 -SG -29-0103 14.230 C/1,010 ( 4,6921 2LS00 29,335 1 11"a/) Passed floor gh Ml ssou[1 Department of Noclal Se -ices Emergency Sheller Crani 14.231 50000 ,.Be5 5,000 Total IID. - Non Major Programs 1 4,6921 20,5(10 34,335 ( 1D,507) L.t Department of Education 0 Passed LLr ugh Missouri Department of Rentatlon F Pa eaed Lhmugh Cape Girardeau Publlc Schools Drug Free Schools Program 84.106 8,000 - 8,000 14,071 ( 6, J111 Passedthrough Missouri Stat. Literary ...... rk and 'It e [a cy Cra m 84.034A 28,371 28.163 33,231 1 5,0701 Total Department of Education 36,161 47,302 ( 11,141) Department of J,sllcc Passed LhmughMissouri Department of Public Safety I lotto, of Clime Act WI -EI) 16.575 5,/00 1 7711 1,932 2,310 ( 1.157) v lcl I.. of Cr l me Act (11.14) 16.S7S 5,700 4,108 5,176 ( 1.0EB) Total D.S. Department of Justice ( 1711 6,040 7.494 1 2,225) Environmental Protection Agency Passed fh tough Missouri Department of Natural placates, C94 CST 02 - 13,962 5,101 S,1D1 Total U.S. Depa[Lment of Interior S,IOl 5,1D1 ( 1 Total on Major Programs (6,493,592) 408.403 072,597 16,957,7861 TOTAL FEDERAL FINANCIAL ASSISTANCE ('1,621,391) L510 999 2,361,732 (0,470,124) Begley, Janssen, Young & Birk _ CERTIFIED PUBLIC ACOUNTANTS 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 � TELEPHONE (314) 334-2845 - FAX (314) 334-4338 PARTNERS JOHN R. JANSSEN, CPA JENNIFER WESTRICH TERRY R. BEGLEY, CPA GRADY 5. MARTIN LAWRENCE E YOUNG, CPA KELVIN W. BIRK, CPA INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri We have audited the general purpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1994, and have issued our report thereon dated October 19, 1994. 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 ONE Circular A -lib 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, 1994, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure. The management of the City of Cape Girardeau, Missouri is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and .. judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because 105 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED 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 a matter involving the internal control structure and its operation that we consider to be a reportable condition 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. The water system inventory is owned by the City but is maintained by an outside contractor. The level of water system inventory is much more significant than other inventories that the City has maintained in the past. The initial water system inventory that the City started the system with was $163,674, consisting mainly of supplies purchased from Union Electric. The outside contractor is .. obligated to maintain that level ($163,674) of inventory in the event that the City assumes management of the water system. Last year, the City did not receive any reports from the outside contractor pertaining to up-to-date inventory levels. This year, the City did receive a report of the count of the parts inventory but did not receive a report of the count of the chemical inventory. Also, the City staff did not perform any procedures to 106 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS - CONTINUED spot-check the records provided by the outside contractor. 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 provide City personnel with detailed documentation of the entire inventory count as of each June 30, and that City personnel have access to the actual inventory and perform procedures to spot-check the outside contractor's records. Ideally, the outside contractor should maintain a computerized, perpetual inventory system to account for the water system inventory. Also, ideally, City personnel would be provided with detail of current inventory levels on a monthly basis and City personnel would spot-check the outside contractor's records on at least an annual basis. Such a system could be maintained on a stand-alone personal computer and need not be integrated with the City's mainframe computer system. Several software packages are available that will adequately handle this task. + 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. gql � 8.� Cape Girardeau, Missouri October 19, 1994 107 Begley, Janssen, Young & Birk CERTIFIED PUBLIC ACOUNTANTS + 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2845 - FAX (314) 334-4338 PARTNERS JOHN R. JANSSEN. CPA JENNIFER WESTRICH TERRY R. BEGLEY, CPA GRADY S. MARTIN IAWRENCE E. YOUNG, CPA KELVIN W. BIRK, CPA 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, 1994, and have issued our report thereon dated October 19, 1994. We conducted our audit in accordance with generallv accepted auditing standards, Government Auditing Standards, issued by to 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 pub lic record. B� CpgPy a�au, Missouri October 19, 1994 3nR Begley, Janssen, Young & Birk CERTIFIED PUBLIC ACOUNTANTS + 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2845 PAX (314) 334-4338 PARTNERS JOHN R. JANSSEN, CPA JENNIFER WESTRICH TERRY R. BEGLEY, CPA GRADY S. MARTIN LAWRENCE E. YOUNG, CPA KELVIN W. ewK, CPA 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 Cirardeau, Missouri We have audited the general purpose financial statements of the City of Cape Girardeau, Missouri, for the year ended June 30, 1994, and have issued our report thereon dated October 19, 1994. 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 19, 1994. 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, 1994, 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 19, 1994. 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 109 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 management'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 Cash receipts Purchasing and receiving Accounts payable 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 Matching, level of effort, and earmarking Reporting Special tests and Provisions 110 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, 1994, the City of Cape Girardeau, Missouri, expended 63% 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 a matter, unrelated to the administration of federal financial assistance programs, 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 19, 1994. 111 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 a matter of public record. DAAIZ- Cape Girardeau, Missouri October 19, 1994 112 + Begley, Janssen, Young & Birk CERTIFIED PUBLIC ACOUNTANTS + 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 334-2845 - FAX (314) 334-4338 PARTNERS JOHN R. JANSSEN, CPA JENNIFER WESTRICH TERRY R. BEGLEY. CPA GRADY S. MARTIN LAWRENCE E. YOUNG, CPA KELVIN W. DIRK, CPA 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 statements of the City of Cape Girardeau, Missouri as of and for the year ended Jure 30, 1994, and have issued our report thereon dated October 19, + 1994. We have applied procedures to test the Citv 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, 1994: 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. _ g , ys(w(�1• e.� Capardeau, Missoufi October 19, 1994 113 Begley, Janssen, Young & Birk CERTIFIED PUBLIC ACOUNTANTS 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 3342845 - FAX (314) 3344338 PARTNERS JOHN R. JANSSEN, CPA JENNIFER WESTRICH TERRY R. BEGLEY, CPA GRADY S. MARTIN LAWRENCE E. YOUNG, CPA KELVIN W. DIRK, CPA 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, 1994, and have issued our report thereon dated October 19, 1994. We have also audited the City of Cape Girardeau, Missouri's compliance with the requirements governing types of services allowed or unallowed; matching, level of effort, or earmarking; reporting; 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, 1994. 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 OMS 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 claimed or used for matching that are applicable to each of its .. major federal financial assistance programs for the year ended June 30, 1994. 114 INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR 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 a matter of public record. Cape Girardeau, Missouri October 19, 1994 115 Begley, Janssen, Young & Birk CERTIFIED PUBLIC ACOUNTANTS 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (314) 33,1-2845 - FAX (314) 334-4336 PARTNERS JOHN R. JANSSEN. CPA JENNIFER WESTRICH TERRY R. BEGLEY, CPA GRADY S. MARTIN LAWRENCE E. YOUNG, CPA KELVIN W BIRK, CPA 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, 1994, and have issued our report thereon dated October 19, 1994. + In connection with our audit of the 1994 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, 1994. 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; matching, level of effort, or earmarking; reporting; and special tests that are applicable to those transactions. Our procedures were substantially less in scope than + an audit, the objective of which is the expression of an opinion on the City of Cape Girardeau, Missouri's compliance with these requirements. Accordingly, we do not express such an opinion. with respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the City of Cape Girardeau, Missouri, had not complied, in all material respects, with those requirements. Also, the results of our procedures did not disclose any immaterial instances of noncompliance with those requirements. + This report is intended for the information of 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. pipDAW— Cape Girardeau, Missouri October 19, 1994 116