HomeMy WebLinkAbout2002-2003.AuditReportCITY OF CAPE GIRARDEAU, MISSOURI
FINANCIAL STATEMENTS
June 30, 2003
BEUSSINK, HEY, ROE,
SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
CITY OF CAPE GIRARDEAU MISSOURI
TABLE OF CONTENTS
FINANCIAL SECTION
Paec No.
INDEPENDENT AUDITORS' REPORT
1_2
REQUIRED SUPPLEMENTAL INFORMATION
MANAGEMENTS DISCUSSION AND ANALYSIS
3-11
BASIC FINANCIAL, STATEMENTS
GOVERNMENT -WIDE FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS
12-13
STATEMENT OF ACTIVITIES
14-15
FUND FINANCIAL STATEMENTS
GOVERNMENTAL FUNDS FINANCIAL STATEMENTS
BALANCE SHEET
16-17
RECONCILATION OF THE BALANCE SHEET OF GOVERNMENTAL
FUNDS TO THE STATEMENT OF NET ASSETS
18
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES
19
RFCONCILATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE
STATEMENT OF ACTIVITIES
20
PROPRIETORY FUNDS FINANCIAL STATEMENTS
.�
STATEMENT OF NET ASSETS
21
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN
..
FUND NET ASSE"TS
22-23
STATEMENT OF CASH FLOWS
24-25
FIDUCIARY FUNDS FINANCIAL STATEMENTS
STATEMENT OF FIDUCIARY NET ASSETS
20
NOTES TO FINANCIAL STATEMENTS
27-67
REQUIRED SUPPLEMENTARY INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL-GENERAL
68
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL-AIRPORT
69
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL- PARK & RECREATION
70
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES 1N FUND BALANCES - BUDGET AND
ACTUAL- TRANSPORT ATION SALES TAX
_
TRUST FUND
71
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL- DEBT SERVICE
72
NONMA.JOR FUND FINANCIAL STATEMENTS
STATEMENT OF REVENUES, EXPENDED JRF,S, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL FLOOD PROTECTION
73
STATEMENT OF REVENUES, EXPENDITURES, .AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL- VISION 2000
74
S'1-ATEMENT OF REVENUES, EXPENDITURES, AND
..
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL CON VENT ION AND TOURISM
75
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - DOWNTOVk N BUS [NESS DISTRICT
70
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL -HEALTf1
77
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
.ACTUAL - MOTOR FUEL TAX
78
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL-CAPITAL IMPROVEMENT SALES TAX -
FLOOD CONTROL
79
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES-BUDGETAND
ACTUAL- CAPITAL IMPROVEMENT SALES TAX-
WATER SYSTEM IMPROVEMENT
Sp
STATEMENT OF REVENUES, EXPENDITURES, AND -
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL- CAPITAL IMPROVEMENT SALES TAX -
SEWER SYSTEM IMPROVEMENT
81
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - TRANSPORTATION SALES TAX
_
TRUST FUND II
82
STATEMEN"F OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL- GENERAL CAPITAL IMPROVEMENTS
S3
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL- STREET IMPROVEMENTS
84
STA FEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES-BUDGET AND
ACTUAL PARK IMPROVEMENTS
S5
STATEMENT OF REVENUES, EXPENDITURES_ AND
CHANGES IN FUND BALANCES - BUDGET AND
ACFUAL - COMMUNITY DEVELOPMENT BLOCK
GRANT PROJECT
86
STATEMENT OF REVENUES, EXPENDITURES, AND
..
CHANGES IN ECND BALANCES - BUDGET AND
ACTUAL -FAU GRANT PROJECTS
87
STAT EVENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL CORP FLOOD CONTROI, PROJECTS
88
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL -SEWER 89
S'I'.AI'EMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
.ACTUAL- WATER 90
STATEMENT OF REVENUES, EXPENDITURES, AND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - SOLID WASTE
91
STATEMENT OF REVENUES, EXPENDITURES, AND
ACTUAL FLEETMANAGEMENT
CHANGES IN FUND BALANCES BUDGET AND
ACTUAL- GOLF COURSE
92
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
CHANGES IN FUND BALANCES -- BUDGET .AND
ACTUAL -SOFTBALL. COMPLEX
93
STATEMENT OF REVENUES, EXPENDITURES, AND
STATEMENT OF REVENUES, EXPENDITURES, AND
,.
CHANGES IN FUND BALANCES -BUDGET AND
ACTUAL - MANAGEMENT INFORMATION SYSTEMS
94
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES N FUND BALANCES -BUDGET AND
ACTUAL FLEETMANAGEMENT
95
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND
ACTUAL - FRINGE BENEFITS
96
STATEMENT OF REVENUES, EXPENDITURES, AND
,.
CHANGES IN FUND BALANCES -BUDGET .AND
ACTUAL RISK MANAGEMENT
97
S'I A I FMENT OF REVENLES, EXPENDITLRES. AND
CI-IANGES IN FUND BALANCES -BUDGET AND
ACI UAL- EQUIPMENT REPLACEMENT
98
ANNUAL FEDERAL FINAXCI.AL COMPLIANCE SECTION
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
99-100
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER
FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOFERNMFNT
AUDIT/NG STANDARDS
101-102
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
103-105
NOTES TO SCHEDULE OF EXPENDITURE OF FEDERAL AWARDS
106
SCHEDULE OF FINDINGS AND QUES'l IONED COSTS
107-108
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
109
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
4018 Sycamore 16 So. Silver Springs Road
Y [tape
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703 Jackson, Missouri
63755
Telephone (618) 734-3300 Telephone (573) 334-7971 Telephone (573) 243-3991
Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
INDEPENDENT AUDITORS' REPORT
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
' We have audited the accompanying financial statements of the governmental activities, the
business -type activities, each major fund, and the aggregate remaining fund information of the
City of Cape Girardeau, Missouri (the City), as of and for the year ended June 30, 2003, which
' collectively comprise the City's basic financial statements as listed in the table of contents.
These financial statements are the responsibility of the City's management. Our responsibility is
to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
y States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinion.
In our opinion the financial statements referred to above present fairly. in all material respects,
the financial position of governmental activities, the business -type activities, each major fund,
and the aggregate remaining fund information of the City of Cape Girardeau, Missouri as of June
30, 2003, and the respective changes in financial position and cash flows, where applicable,
thereof for the year then ended, in conformity with accounting principles generally accepted in
the United States of America.
As discussed in Note 1, the City adopted the provisions of the Governmental Accounting
Standards Board Statement No. 34, Rask Financial Statements - and Managements Discu.csfoa
and Anuh sfs—for State caul Local Govemments; as of June 30, 2003.
In accordance with Government Auditing Standards, we have also issued a report dated
November 7, 2003, on our consideration of the City's internal control over financial reporting
and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants.
That report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be read in conjunction with this report in considering the results of our
audit.
The management's discussion and analysis and budgetary comparison information on pages 3
through 11 and 68 through 72, are not a required part of the basic financial statements, but are
supplementary information required by the accounting principles generally accepted in the
' United States of America. We have applied certain limited procedures, which consisted
principally of inquiries of management regarding the methods of measurement and presentation
of the supplementary information. However, we did not audit the information and express no
opinion on it.
Our audit was performed for the purpose of forming an opinion on the financial statements that
collectively comprise the City of Cape Girardeau's basic financial statements. The individual
nonmajor fund financial statements are presented for purposes of additional analysis and are not
a required part of the basic financial statements. The accompanying Schedule of Expenditures of
Federal Awards is presented for purposes of additional analysis as required by U.S. Office of
Management and Budget Circular A-133, Audits of States. Local Governments, and Non -Profit
Organimtions, and is not a required part of the basic financial statements of City of Cape
Girardeau, Missouri. Such information has been subjected to the auditing procedures applied in
the audit of the basic financial statements and, in our opinion, is fairly stated in all material
respects, in relation to the basic financial statements taken as a whole.
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, LLC.
/�jtsadsuy /sC, i0 S{R L.L.G
Cape Girardeau, Missouri
November 7, 2003
CITY OF CAPE GIRARDEAU, MISSOURI
Management's Discussion and Analysis
The discussion and analysis of the City of Cape
Girardeau s financial performance provides an
overall review of the City's financial activities
for the fiscal year ended June 30, 2003. The
intent of this discussion and analysis is to look at
the City's financial performance as a whole.
Readers should also review the basic financial
statements and related notes to those statements
to enhance their understanding of the City's
Financial performance.
Financial l Fghliahts
o The assets of the City of Cape Gtrurdcau
exceeded its liabilities at the close of the most
recent fiscal year by $86,234,270 (net assets).
Of this amount, 532,423,557 (unrestricted net
assets) may be used to meet the city's
ongoing obligations to citizens and creditors.
o As of the close of the current fiscal year, the
City of Cape Girardeau's governmental funds
reported combined ending fund balances of
S31_846,186. Approximately 50 percent of
this total amount, $15,967,943 is available for
spending at the government's discretion
(unmsened fund balance).
o At the end of the current fiscal year,
unreserved fund balance for the general find
was $1_032,066 or 6.3 percent official general
fund expenditures and transfers. Fund
balance mw,, rd for emergencies for the
general fund was S2,927,721 or 17 2 percent
of total general fund expenditures and
transfers.
o I lie City of Capc Girardeau s total long -trim
debt decreased by S�J)92 775 f6.2 percent)
during the current fiscal year The kev factor
in this dccrcaw s+zs the 89,160,520 in
principle pavmems.
Ovcnica ofire Fina,nial St_�cmcnts
This discussion and unulvsis arc intended to
bene as an ino'oduc tion to the City of Cape
Girardeau', basic (l..anciul statements_
'flte ( it, of Capc GimrdueaS husic Financial
statements comprise three componcuG: I )
government -vide financial statements. 2) fund
financial statements, and 3) notes to the financial
statements- 'this report also contains other
supplementary information in addition to the
basic financial statements themselves.
Co, ernment-wide financial statements.
The govcmment-wide financial statements are
designed to provide readers with a broad
overview of the City of Cape Girardeau's
finances, to a manner suralar to a private -sector
business.
'Ihe statement of net assets presents information
on all the City's assets and hatelhics, with the
difference between the two reported as net
assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether
the financial position of the City is improving or
deteriorating_
The statement of tch' itte, presents information
showing how the city's net assets changed
during We most recent fiscal year. All changes
in the net assets arc reported as soon as the
underlying event giving rise to the change
occurs, regardless of the timing of the related
cash flows. Thus, revenues and expenses are
reported in the statement for some items that will
only result in cash flows in future fiscal periods
(cg., uncollected taxes and earned but unused
vacation lease),
Both of government wide financial
statements distinguish functions of the City of
Cape Girardeau that are principally supported by
razes and interges c mnnente l revenu cs
(governmental activities) too. other function -s
that are intended to recover all or a significant
portion of their costs tluouoh user fees and
charges (business -type aeric ities). The
go, emmental activities of the City of Cape
Girardeau include ad ani rostra tivc scrvlces.
developmental services, parks and recreation,
public solely. and public storks. The husiness-
type activities of the City include sewer, water,
and solid waste nuhdes and -,off course and
softball complex operations,
the government -side Financial statements can
be found on pages 12 to I- ofthis report.
CITY OF CAPE GIRARDEAU, MISSOURI
Fund financial statements. A fund is a
grouping ofrelated accounts that is used to
maintain control over resources that have been
segregated for specific activities or objectives.
The City of Cape Girardeau, like other state and
local governments, uses fimd accounting to
ensure and deniousnnte compliance with
finance -related legal requirements, All ofthe
funds of the Cit, can be divided into three
c ate settesgovernmental funds, proprietary
funds, and fidudary funrls_
Governmental Funds. Governmental funds are
used to account for essentially the same
functions reported as governmental activities in
the govemment-wide financial statements.
However, unlike the gocemnrent-nide financial
statement, governmental fund financial
statements focus on near-term inflows and
outflows of spendable resources, as well as on
balances of spendable resources available at the
end of the fiscal year. Such information may be
useful in evaluating a government's near-term
financing requirements.
Because the focus of the governmental funds is
narroeer than that of the goveminent -wide
financial statements, it is useful to compare the
information presented for;over uncntal funds
with similar information presented for
govemmcntal activities in the govemment-wide
financial statenwa s. By doingso, readers may
hater understand the lona term impact of the
government's near term financing decisions.
Both the gov nnmental fund balance sheet and
the gavcrliterate] fluid statement of revenues,
eRpenditures, and changes in fund balances
provide a reconciliation to facilitate this
comparison between govemmart l fit and
governmental activities_
The Cup of Cape Girardeau maintains 22
individual go, emnxntal fonds. 1.for aratio u is
presented separately in the govcmtire and fund
balance sheet and in the gocermtental fund
statement of receaLie s, espe ndItaIaS. and changes
in fund balances for the general. airport, parks
and recreation, Transportation tom 11 and data
service funds- which are considered_ or have
been designated to be major funds ofthc City-
Flatn from the other nox°emmental funds aro
combined into a single- aggregated frescntation_
The City of Cape Girardeau adopts atmual
app rap rime it b udgets for at its tuoveuuttenteI
funds, cstoo ing its renter system improve meats
capital project fund, which has a project length
budget. Budgetary comparison statements have
been provided for all major governmental funds
as part of financial statements to demonstrate
compliance with this budget. Budgetary
comparison statements for the remaining
governmental funds are present as supplemental
information.
The basic governmental Pond financial
statements can be found on pages 16 to 20 of this
report.
Pmorietar, funds. The City of Cape Girardeau
maintains two types of proprietary funds.
Enterprise funds are used to report the same
functions presented as business -type activities in
the govemment-wide financial statements. the
City used enterprise funds to account for its
sewer, water. and solid waste utilities and its golf
course and softball complex operations. Internal
service funds are an accounting device used to
accumulate and allocate costs interrmlly among
the City's various functions. The City uses
internal sen ice funds to account for operation of
its nwnuscment information systems, fleet
management, self-insured employee benefits and
workmen's compensation programs, and its
internal equipment (casing program_
Proprietary funds provide the same type of
information as the govemment-widc financial
statements, only in more detail. The proprietary
fund fium,ial statements provide separate
information for the sewer, water, and solid waste
utilities and golf course and softball complex
operations. All of these are considered, or have
been dc,iguetcd to be major funds of the City.
'lire internal sen ice funds are combined into a
single, aggregated presentation in the proprietary
fund financial statements_
@e basic proprietary fund financial statements
can be hand on pages 21 to 25 of this report.
Budgetary comparison statements for all the
proprietary funds are present as supplemental
informahon
Votes to the 1=financial State Hent, The notes
provide additional information that is essential to
a full understanding ofthe data provided in the
govemment-wide and fund financial statements.
The notes to the financial statements can be
found hcginning page 27 ofthis report.
CITY OF CAPE GIRARDEAU, MISSOURI
Government -wide Financial Analysis
As noted earlier, net assets may serve over time
as a useful indicator of a government's financial
position. In the case of the Cty of Cape
Girardeau, assets exceeded liabilities by
S86,234,270. The largest portion of the City's
net assets (52.5 percent) reflects its investment in
capital assets (land, buildings, machinery, and
equipment). less related debt used to acquire
those assets that is still outstanding. The CIL,
uses these capital assets to provide services to
citizens, consequently, these assets are not
available for future spending. Although the
C iry's investment in its capital assets is reported
net of related debt, it should be noted that the
I'esources needed to repay this debt must be
provided free other sour(es, since the capital
assets themselves cannot be used to liquidate
these liabilities.
An additional portion of the City's net assets (9.6
per represent resources that are subject to
external restrictions on hour they may be used.
The remaining balance of unrestricted net assets
($32.42:,557) may be used to meet the city's
ongoing obligations to citizens and creditors.
At the end of the cut rent fiscal year, the Cly is
able to report positive balances in all three
categories effect assets-. both for the government
a, a hole,aswell as for its separate
governmental and busirl activities. I lie
same situation was true of the prior year.
City of Cape Girardeau's Net Assets
Business -
Governmental type
Activity activities Total
Current and other assets
35,172,921
15,443,932
Invested In capital assets,
50,616,853
Capital assets
30,092,334
45497 093
88,910,550
_
_._ 119,002,884
3,018.301
0,313.620
Total assets
65265,255
6,494.128
104,354482
Total net assets
169,619,737
55,009,522
86,234.270
Long term liabilities outstanding
28,484,900
44,013465
72498,365
Other liabilities
5,555608
5,331495
10,887,103
Total liabilities
34,040,508
49,344,960
83,385465
Net assets'.
Invested In capital assets,
Net of related debt
-
45497 093
45.497.093
Restricted
5,295,318
3,018.301
0,313.620
Unrestricted
25,929429
6,494.128
32,423.557
Total net assets
31,224,747
55,009,522
86,234.270
5
CITY OF CAPE GIRARDEAU, MISSOURI
GovemmenteI aettvioes. Govemmental activities increased the City of Cape Girardeau s net assets by
$5,879.860 thereby accounting for 47,9 per cent of the total growth in the net assets of the City. Key
elements of this increase are as follows'
City
of Cape Girardeau's Change
in Net Assets
Governmental Scorers
type
activities
activities
Total
Revenues:
- - -
--
Program revenue.
Charges for service
3,499,174
10500,306
13,999,480
Operating grants and
contributions
789,060
76451
865,511
Capital grants and
contributions
3,247,603
1,581,285
4,820.888
General revenues.
Property taxes
2,135.604
-
2,135,604
Sales taxes
15,292.064
-
15,292,064
Other taxes
6,668,728
-
6,668,728
Other
958.271_
1,551.874
Total revenues
32.590.504
_593_,60_3_
12,751845
45,342.149
Expenses.
Administrative
3971 271
3,971,271
Development Services
1.663087
-
1,663.087
Interest and other costs
1.400.715
-
1,400.715
Parks and Recreation
2,756.060
-
2.756068
Public Safety
8665.488
-
8,665.488
Public Works
2.369.477
-
2,369,477
Sewer
-
4,108.588
4,106588
Water
-
4912,233
4,912,233
Solid Waste
_
2.283361
2.283
361
Golf Course
_
523,007
523,007
Softball Complex
_
405,814
405,814
Total expenses
20.826.106
12,233,003
33,059,109
Increase in net assets
before transfers
11764,398
518,642
12,283,040
Transfers
_ (5,884,530(
5,884,538
Increase in net assets
5.879.860
6,403,180
12.283.040
Net as Sets 7 1.2002
25.344,887
48,606,343
73,951,230
Net essets 6130'2003
31.224 747
55,009,523
86234,270
-I hlis the lint year that the City of Cupc Girardeau is presenting a changes in net assets schedule- In
future Year tee still assess the Cher" on a corepara ti cc hast. with Prior year.
6
CITY OF CAPE GIRARDEAU, MISSOURI
The chart below illustrates the Surplus or net subsidy required for different, key city programs
Softball Complex MO
Golf Course d
Solid Waste
Sewer Y Expense
O Revenue
Water
Public Works
Public Safety
Parks & Recreation
Development So,
Administrative
- 1 500 000 3.000000 4, 5D0.000 6,000,000 7,500,000 9,000,000
The illustration above makes it clear that all the govermnental acGvitics and some ofthe business -type
activities ofthe city required a subsidy by taxpayers while some ofthe business -type activities wcr, self-
' supporting.
Revenues by Source—
" Governmental Activities
The chart to the right summarizes the sources of
revenue (tont government activities- the three
main SourceS of revenue and their share of total
governmental revenues are sales tax (46,9-r),
other fares (20.4;0) and charges for service
(10 7".).
A little over halfthe sales tax revenue is general
fund revenue and represents 48 6 percent ofthe
total eemail turd ..venues. The remaining sales
taxes are un nansportatinn, scaler, and \Pater
piojcctc
The general fund accaurt, for 59 ofthe
sen ice charge revenue- This represents 13'96
of the total ecncral fund revenues.
Orher ta,Aes
,r.r.
Service
CITY OF CAPE GIRARDEAU, MISSOURI
Business-rvpe activlines . Business -type activities
increased the City of Cape Girardeau'-, netcsscte
by $6.403,180 thereby accounting for 52 1 per
cent of the total growth in the net assets ofthe
City_ Transfers from governmental activities
totaling $1,884,538 accounted hot the 91.9%of
the increase. Transfers of water system
improvements totaling $3,163,403 and sales tax
revenue far bond payments totaling $2,088,062
make up most ofthe total transfers.
Revenues for business -type activiies
Financial Analvsis of the City's Funds
As noted earlier, the City of Cape Girardeau uses
fund acoountine to ensure and demonstrate
compliance with (mance-related legal
requirements.
Govan mental funds. The focus ofthe City's
so veramental funds is to provide information on
near-term 11111011, outflols, and balances of
spendable resources- Such information is useful
in assessing the City's financing requirements.
In particular. unreserved fund balance may serve
as a useful measure of We city's net resources
available for spending at the end ofa fiscal year.
As of lune 30, 3003, the City, governmental
funds reported combined ending fund balances
cf$28,294 204, a decrease of 53,309.1'_5 in
comparison with the prior year. Approximately
56.4 percent IS 15.967,943) constitutes
unreserved fund balance, lhlch Is avallahle for
spending at the city- s discretion. The remainder
of the fund halanca is reserved to indicate that it
I, not avallahle for new spending because it has
cheadshccn committed I1 to meet the City's
chattered required m,ereenc} reserves
(53.851,355), 31 to fund purchase orders open at
the end of the vCct (S3, I483]}1.31 to at aside
fund balance not currcntic avallahle for
cxpCudtturC cquul it 1011, let,, loans due from
other Ciq funds IS 163;94414) n, set aside
fund basic, not currcntic available for
expenditure equal ni tun_ teen loans duc from
Renaissance Aircraft LLC for purchase of an
airport manufacturing facility from the City
($1990.514), 5) to pay debt service (S834,850) -
and 6) restricted to a specific use ($863,073).
The general fund is the chief operating fiord of
the City. At the end of fiscal year cndat lune
30, 2003, unreserved fund balance of the eeneral
fold was $1,032,066 while total fund balance
was S5,904.748. As a measure of the eeneral
fund's liquidity, it may be useful to compare
both at,, fund balance and total fund
balance to total fund expenditures. l)nrC5ClVC
fund balance represents 6 1 percent of total
general fund expenditures. however. included in
the reserved fund balance is $2,927,721, which
had hccn reserved to meet the City Charter's
emergency reserve requirement. 'Phis amount
represents 173 percent of total general fiord
expenditures and could be used if an emergency
was declared by the City Council.
I he fund balance of the Cit}' of Cape
Giraideau's general fund increased by $172,560
during the fiscal%car ending June 30, 2003. Key
factors include.
o Sales tax revenue grew 1.6 percent over
the previous cast, which was $111,037
(1.4%) less Ihan projected for the adopted
bude,cL This continued the trend ofbelow
normal sales tax _growth over the last four
vears.
o Franchise tax revenue grew 5 6 percent
over the previous year. which was
S 148,746 is 4't,.) more than projected for
the adopted budget_ Phis resulted from
high natural gas prices, a cold winter, and
higher cable rates.
o Municipal Court revenue decreased 7.4
Percent over the previous year which was
5133.962 (13.1 °6) less than projected Cor
thebudeet. Thovastheresuhof
personnel vacancies in the police
department.
o $67.068 in el ant revenue to cover the
costs oft,o additional police officers
required for security at Weaupott.
o Ependiores for puhlic transportation,
which is a portion of developmental
"I I Ices cost', decreased 10 percent over
the precious year which was $"78,887
82 tx
Financial Analvsis of the City's Funds
As noted earlier, the City of Cape Girardeau uses
fund acoountine to ensure and demonstrate
compliance with (mance-related legal
requirements.
Govan mental funds. The focus ofthe City's
so veramental funds is to provide information on
near-term 11111011, outflols, and balances of
spendable resources- Such information is useful
in assessing the City's financing requirements.
In particular. unreserved fund balance may serve
as a useful measure of We city's net resources
available for spending at the end ofa fiscal year.
As of lune 30, 3003, the City, governmental
funds reported combined ending fund balances
cf$28,294 204, a decrease of 53,309.1'_5 in
comparison with the prior year. Approximately
56.4 percent IS 15.967,943) constitutes
unreserved fund balance, lhlch Is avallahle for
spending at the city- s discretion. The remainder
of the fund halanca is reserved to indicate that it
I, not avallahle for new spending because it has
cheadshccn committed I1 to meet the City's
chattered required m,ereenc} reserves
(53.851,355), 31 to fund purchase orders open at
the end of the vCct (S3, I483]}1.31 to at aside
fund balance not currcntic avallahle for
cxpCudtturC cquul it 1011, let,, loans due from
other Ciq funds IS 163;94414) n, set aside
fund basic, not currcntic available for
expenditure equal ni tun_ teen loans duc from
Renaissance Aircraft LLC for purchase of an
airport manufacturing facility from the City
($1990.514), 5) to pay debt service (S834,850) -
and 6) restricted to a specific use ($863,073).
The general fund is the chief operating fiord of
the City. At the end of fiscal year cndat lune
30, 2003, unreserved fund balance of the eeneral
fold was $1,032,066 while total fund balance
was S5,904.748. As a measure of the eeneral
fund's liquidity, it may be useful to compare
both at,, fund balance and total fund
balance to total fund expenditures. l)nrC5ClVC
fund balance represents 6 1 percent of total
general fund expenditures. however. included in
the reserved fund balance is $2,927,721, which
had hccn reserved to meet the City Charter's
emergency reserve requirement. 'Phis amount
represents 173 percent of total general fiord
expenditures and could be used if an emergency
was declared by the City Council.
I he fund balance of the Cit}' of Cape
Giraideau's general fund increased by $172,560
during the fiscal%car ending June 30, 2003. Key
factors include.
o Sales tax revenue grew 1.6 percent over
the previous cast, which was $111,037
(1.4%) less Ihan projected for the adopted
bude,cL This continued the trend ofbelow
normal sales tax _growth over the last four
vears.
o Franchise tax revenue grew 5 6 percent
over the previous year. which was
S 148,746 is 4't,.) more than projected for
the adopted budget_ Phis resulted from
high natural gas prices, a cold winter, and
higher cable rates.
o Municipal Court revenue decreased 7.4
Percent over the previous year which was
5133.962 (13.1 °6) less than projected Cor
thebudeet. Thovastheresuhof
personnel vacancies in the police
department.
o $67.068 in el ant revenue to cover the
costs oft,o additional police officers
required for security at Weaupott.
o Ependiores for puhlic transportation,
which is a portion of developmental
"I I Ices cost', decreased 10 percent over
the precious year which was $"78,887
CITY OF CAPE GIRARDEAU, MISSOURI
(22.1 %) less than the adopted budget as a
result of less usage of the program.
o The Cis spent 5251 738 (2.8%) less for
clnplovice salaries than was budgeted as a
result ofmultiple vacancies throughout the
City.
to 9lie Cit- spent S80.067 (11.6%) more
for employee health coverage than was
budgeted as a result of a mid -sear 45%
increase in prcmimns. The additional costs
were partially mitigated by personnel
vacancies.
The debt service burns have a total fund balance
of $1,110.0 19, all of which is reserved to pay
debt service costs and to meet emergency reserve
requirements. "fhe net decrease in fund balance
during Fiscal year ending June 30, 2003 in the
debt set ice funds was 51,677.485- 'fhe primary
cause of the decreased fund balance was the use
of accumulated funds for the early retirement or
several outstanding bond issues_
Proprietary funds _ l lie Circ of Cape Girardeau's
enttelic So funds are all presented as major funds
for purposes of this report. As a result, all
statements related to the enterprise funds arc
presented at the government -wide level. The
City does have Internal Scrvfen (ands, which are
reported in the fund statements.
General Fund Budgetary highlights
Diflerenees between (hr original operating
budget and the final amended Spurning bush -st
were 5432.000 (2.5° it over the original budget
amount. The chana_cs can be summarized as
fol lows:
o $64.000 for' additional police offmcus for
airport recruit,
o $13.000 for additional health insurance
cost and unanticipated unemploy hent
claims in the parks maintenance division.
o Additional ad m innu'otive costs of 511,000
to cover special election and severance pay
costs
n $25475010 Cover public safety capital
cspcndinres sshich included purchases of
9
adjacent properties to the police station and
additional police and fire equipment.
o 55,750 to cover the purchase of additional
park land.
o $20,000 to cover the cost ofadditional
transfers to the equipment replacement
fund to cover the additional costs of
equipment purchases made during the
\'Car.
to $41.500 to cover the cost if additional
transfers to the golf fund to cover
anticipated revenue shortfalls.
.$220,000 of the above appropriations were
horded by health fund transfers. Unanticipated
grants and donations funded $104,500 of the
above appropriations. The remainder of the
appropriations used general fund balances
-
Capital Assets and Debt Administration
vital. Assets_ The City of Cape Girardeau's
interlinear in capital assets for its
govcrmnental and business -type activities as
of June 30, 2003, unicorns to $119,002,883
(net of accumulated depreciation). This
investment in capital assets includes land,
buildings and system improvemen Ls,
muchinery and equipment, and infrastructure
completed during the current fiscal year. The
City Iws not at completed its inventopand
anulvsls of its Toads, highways, and bridges as
capital assets of the city. As a result the values
that these assets represent are not vet a part of
this report. The GASB has granted additional
fluid for the CIS to accomplish this task. We
believe it will be accomplished for the report
un fiscal year eni ingJune 30. 2M
City of Cape Glrardea us Capital Assets
(net of depreciation)
Business
Governmental type
Activity activities Total
Land 3.905.023 248109 4.233.132
Buildires and
systems
Improvements
other loan buLtlmgs
Equipment
Infrastructure
Construction in
progress
Total
7 342 990 3 201.730 10 544.720
3,409,5C7 60.151.944 63.561.451
2.142,343 2,026.845 4.169.166
9.728.059 - 9 726.859
3,483,612 23.281 922 26-165 534
30.092,334 88.910.550 119.002884
CITY OF CAPE GIRARDEAU, MISSOURI
As this is the first year that this type of report is
included in the CIt) ''S annual financial report, a
comparison with prior year resul Isis not
provided. Such a comparison twill be provided in
future years.
City Capital Asians
Major capital asset events during the current
fiscal year included the following:
u CunstrucGmt costs kdaling S1,412,270 on
approved transportation soles tax projects
were incurred this year. This tax was
ori__inally approved to complete a specific
list of street projects, which also included
amounts for street repair and overlay,
sidewalk construction and repair, and
street light installation and upgrades.
o Construction costs totaling $3,163,403 on
' water system projects were incurred this
year. A capital improvement sales tax
was ousinally approved in 1996 to
,. complete a specific list of improvements
to the water s}'stem totaling approximately
$26500,000. The above costs represent
Pat t of those improvements. Themost
si_nlficaut project on the original list teas
the expansion end upnrade of water plant
=1 at an estimated cost of S 17,700.000.
Most of the projects on the list are now
complete. At the end of the scar, the
expansion and upgrade of stater plant 'I
gas appro,niarc IN 90°„ complete.
I Construction costo Mauro appro urnatck
5700.000 tcere also incurred on street
projects not included on the transportation
sales ins list ofprojects.
o Construction cos[. mtnling approximateh
S485-000 were also incumd on hood and
stollnwatcr contt'ul project.
to Construction costs totaling S2,527,3 12 on
sexier system projects were incurred this
year. A capital improvement sales tax
ass originally approved in 1994 to
complete a specific list of improvements
to the sewer system. Over $33,350,000 in
revenue bonds have been issued through
the State Revolving Loan Program to
complete these projects. Most ofthe
projects on the list are now complete. At
the end of the year, only the Ranchito
Relief Sewer. which was 90% complete,
and the South Ramsey Branch Lift Station
were not complete.
Additional information about the City's capital
assets can be found in note ? on page?? of this
report.
Lon—let it debt. At the end of the fiscal year,
the City of Cape Girardeau had total bonded debt
outstanding of S77287.36i Ofthis amount
$425,000 is secured by the full fahh and credit of
the City and $69,644,290 is occulted by revenues'
of the sewor and water fund, and capital
improvement sales taxes- The repayment ofthe
remaining debt is subject to annual
appropriations.
City
of Cape Girardeau's
Outstanding Debt
Year ended
2003
Business -
Governmental
type
Activity
activities
_ Total.
Special obligation
bonds
1,923,117
1,283,721
3.206.838
Revenue bonds
22,872,546
45771.744
68644.290
Certificates of
participation
4,264237
-
4,264237
General obligation
bonds
425.000
-
425.000
Leasehold revenue
bonds
747,000
747,000
30231900
47055465
77,287,365
"fhe City's total debt decreased by $5,083.775
(6 2 1 v) during the year. The Ree Coeur in the
chane was the earls retirement of general
obligation bonds totalins $450,000, sewer
revenue bonds totaling $430"000 and certificates
of participation murine $1.190.000.
The ooh initiates in debt during the fiscal .car
represented $3.202.618 in special obligation
bonds issued to construct approximately
CITY OF CAPE GIRARDEAU, MISSOURI
51,580,000 in street projects. The remaining
proceeds "are used in conjunction with cash on
hand to retire $2,340,000 of outstanding debt.
More information about the City's outstanding
debt can be found in the notes to the financial
statements on page ??.
6conomlc Factors and the Next Year's
Budgets and Rates
'rhe city continues to experience the effects ofa
slow economy and loss of some of its regional
retail draw. Since the City is heavily dependent
on sales tax revenue for support of its general
fund services, any changes that impact the
growth of local retail sales can have a dramatic
Impact oil the Cily's ability to Pond services in
the future al their current levels- Stale and local
laws restrict the City's ability to increase fees to
cover the costs of providing specific services to
the users of those services
Slot,economy. Sales fix is a significant
revenue source of the city and is a barometer of
the local economy_ Drilling the last four years,
sales tax revenue grew at an average rale of 1.196
while inflation grew at an average rate of Zoll
In the previous four yearn. sales tax grew at an
average rate of 4.0°S. while inflation grew at an
average rale of3.3%. "this slow down in sales
growth began in the fiscal year ending June 3Q
2001, a year in which there was no sales tax
grmvth_ 'fhe economv had began to improve
slightly since that year as sales rax growth in
fiscal year 2002 and 3003 were5-had 1.61/0
respectively. However, in the current 3004 fiscal
}'car, (here has been I iill c or no sales lux growth_
Regional_ ,fail center, Through most of the
1990" Cape Girardeau continued to be a
regional retail center for much of Southeast
Missouri mad Southern Illinois. During the ]one,
part (if ill I990's Cape Girardcuu bcguu to lose
its share of the retail market to other cities in the
region as these eines added 'additional retail
oullcLs in their comm un itics.
SALES TAX COMPARISON
The previous table, which includes the City of
Cape Girardeau and significant retail centers
within a 50 mile radius, shows the percentage of
estimated sales made by each city to the total
estimated sales of the five cities. Since calendar
scar 1999 the City's share ofthose sales has
decreased from 44.3 percent to 41.3 percent.
Activity has taken place since the end of the
fiscal year which, hopefully, will help reverse
this trend. Currently three new retail outlets that
should have regional drawing power are
planning to open up new operations in Cape
Girardeau.
Slate and l ncal law. Currently state law
prohibits the City from increasing any pernut or
license fees without a vote, thus making it
difficult for the City to cover the increasing costs
of providing services associated with these
revenues_ 'rhe City Charter prohibits any annual
user fee increase of greater than 5% without a
vote of the people. Although tltis provision
works woil with the more significant user fees
such as water and sewer rates, it makes raising
smaller user fees more cumbersome_ This
provision has hada greater impact on the Parks
and Rec¢alion Fund where the City Itas declined
to make small increases to cover increased costs,
as It convenience to its users_ The only park and
recreation fees that have been increased since
1997 have been fees at the golf course.
Budget for fiscal rear coding June 30 3004 and
Financial_ conciliar. The above factors, and
many more, helped limit the fiscal 2004 annual
budget Altin ueb the budget was balanced, this
was accomplished with a salary freeze and by
not adequately funding equipment and
maintenance needs. The City's current financial
position is strong In that ithis more than
adequate financial resources to cover existing
claims on those resources. However. the
f nanciul conditien is less than desirable.
Without a dramatically improved economy or
ries, revenue sources, it still not be able m
provide the current level of services in future
years_
Requests for In for in a l ion
This fuaaucial mpert iv dcslgncd to'i'o It, a amoral
cea'nee ofthc Ch, of Cape ( a f" z finances tore
all Ihesv%eilh ar intercel in the chds fmoncc,,.
potations conamins am oflh: iufnrmauon proclJad
n Oai+repon are rcr u"t, lore addilional Gueuciul
iId Iiwrian should he uddressed to the I i aance
)IrKLOC Cu, of Cape Girardcuu. PO It,,, 61 7. (':.rr,
Girardcaa A10 69703-061].
1999
2000
2001
2002
Cape Girardeau
44.30
43.5%
42.2%
41.3%
Carbondale
26.5%
26.4%
27.2%
277%
Jackson
8.5%
9.0%
93%
9.4%
permute
70%
7.3%
Z3%
72°0
Sikeston
137%
13.6`/0
14.U,
14.4%
1000%
100.0%
100.0%
100.0%
The previous table, which includes the City of
Cape Girardeau and significant retail centers
within a 50 mile radius, shows the percentage of
estimated sales made by each city to the total
estimated sales of the five cities. Since calendar
scar 1999 the City's share ofthose sales has
decreased from 44.3 percent to 41.3 percent.
Activity has taken place since the end of the
fiscal year which, hopefully, will help reverse
this trend. Currently three new retail outlets that
should have regional drawing power are
planning to open up new operations in Cape
Girardeau.
Slate and l ncal law. Currently state law
prohibits the City from increasing any pernut or
license fees without a vote, thus making it
difficult for the City to cover the increasing costs
of providing services associated with these
revenues_ 'rhe City Charter prohibits any annual
user fee increase of greater than 5% without a
vote of the people. Although tltis provision
works woil with the more significant user fees
such as water and sewer rates, it makes raising
smaller user fees more cumbersome_ This
provision has hada greater impact on the Parks
and Rec¢alion Fund where the City Itas declined
to make small increases to cover increased costs,
as It convenience to its users_ The only park and
recreation fees that have been increased since
1997 have been fees at the golf course.
Budget for fiscal rear coding June 30 3004 and
Financial_ conciliar. The above factors, and
many more, helped limit the fiscal 2004 annual
budget Altin ueb the budget was balanced, this
was accomplished with a salary freeze and by
not adequately funding equipment and
maintenance needs. The City's current financial
position is strong In that ithis more than
adequate financial resources to cover existing
claims on those resources. However. the
f nanciul conditien is less than desirable.
Without a dramatically improved economy or
ries, revenue sources, it still not be able m
provide the current level of services in future
years_
Requests for In for in a l ion
This fuaaucial mpert iv dcslgncd to'i'o It, a amoral
cea'nee ofthc Ch, of Cape ( a f" z finances tore
all Ihesv%eilh ar intercel in the chds fmoncc,,.
potations conamins am oflh: iufnrmauon proclJad
n Oai+repon are rcr u"t, lore addilional Gueuciul
iId Iiwrian should he uddressed to the I i aance
)IrKLOC Cu, of Cape Girardcuu. PO It,,, 61 7. (':.rr,
Girardcaa A10 69703-061].
BASIC FINANCIAL STATEMENTS
1 1 1 1 t i t 1 1 i 1 1 1 It 1 t i t 1
City of Cape Girardeau
Statement of Net Assets
For the Year Ended June 30, 2003
12
Primary Government
Governmental
Business -type
Activities
Activities
Total
ASSETS
Cash and cash equivalents
$ 6,933,483
$ 351,980
$ 7,285
463
Investments
18,277,502
3,789,234
22,066,736
Taxes receivable
2,670,123
-
2,670,123
Utility charges receivable
-
1,237,629
1,237,629
Special assessments receivable
1,952,627
340.300
2292,927
Interest receivable
314,345
17,638
331,983
Other receivables
2,186,517
44,792
2,231,309
Motor fuel receivable
124,229
-
124,229
Grants receivable
531,305
20,109
551,414
Internal balances
1,655,657
(1,655,657)
-
Inventcry
71,741
207,139
278,880
Prepaid items
455,391
535,119
990,510
Restricted cash and cash equivalents
-
7,624,127
7,624,127
Restricted investments
-
2,931,523
2,931,523
Land
3,985,023
248,109
4,233,132
Buildings
7,342,990
3.201,730
10,544,720
Other improvements
3,409,507
60,151,944
63,561451
Equipment
2,142,343
2,026,845
4,169,188
Infrastructure
9,728,859
-
9,728,859
Construction in process
3.483.612
23,281,922
26,765,534
Total assets
$ 65265254
$ 104354483
$ 169.619.737
12
I 1 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
City of Cape Girardeau
Statement of Net Assets
Far the Year Ended June 30, 2003
13
Primary Government
Governmental
Business -type
Activities
Activities
Total
LIABILITIES
Accounts payable
1,165,738
790,455
1,956.193
Salaries and benefits payable
835
206
116,046
951,252
Interest payable
637,216
862,190
1,499.406
Other liabilities
121,100
389,775
510,875
Estimated Gams
427,397
-
427.397
Due to other governments
113,983
26,029
140,012
Unearned revenues
107,966
-
107,966
Estimated landfill post closure costs
-
105,000
105,000
Notes payable
400,000
-
400.000
Current portion long-term debt.
Revenue bonds payable
770,000
2,877,000
3,647,OOD
Certficiates of participation payable
370,000
-
370,000
Leasehold revenue bonds payable
27,000
-
27,000
General obligation refunding bds payable
425,000
-
425,000
Special obligation bonds payable
155,000
165,000
320,000
Long-term debt net of current portion:
Revenue bonds payable
22,102,546
42,894,744
64,997,290
Cedfidates of participation payable
3,894,237
-
3,894,237
Leasehold revenue bonds payable
720,000
-
720,000
General obligation refunding fids payable
-
-
-
Special obligation bonds payable
1,768,118
1,118,721
2,886,839
Total liabilities
34,040,507
49,344,960
83.385
467
NET ASSETS
Invested in capital assets, net of related debt
-
45,497,093
45,497,093
Restricted for Debt Service
834,850
1,016,667
1,851,517
Restricted for depr and replacemnt
-
707,000
707,000
Restricted for emergency fund
3,855,355
1294,635
5,149,990
Restricted for Mausoleum
83,072
-
83,072
Restricted for River Campus Protect
522,041
-
522,041
Unrestricted
25,929,429
6,494,128
32,423,557
Total net assets
$ 31,224,747
$ 55,009,523
$ 86,234.270
13
III 1 1 1 1 1 1 1 If 1 1 If 1 1 1 1 If Y i
City of Cape Girardeau
Statement of Activities
14
For the Year Ended June
30, 2003
Net(Expense) Revenue and
Program Revenues
Changes in Net Assets
Primary Government
Operating
Capital Grants
Charges for
Grants and
and
Governmental
Business -type
Function slPrograms
Expenses
Services
Contributions
Contributions
Activities
Activities
Total
Primary government:
Governmental activities:
Administrative
3.971,271
1,733.661
230,218
116,283
(1,891,109)
-
(1,891,109)
Development Services
1663,087
307,144
200,937
219,518
(935,488)
-
(935,488)
Interest and other costs
1,400]15
-
-
-
(1,400,715)
-
(1,400,715)
Parks and Recreation
2,756,068
531,807
14
1,197,300
(1,025,949)
-
(1,026,947)
Public Safety
8,665,488
918.063
357,890
28,416
(7,361,119)
-
(7,361,119)
Publlcworks
2,369,477
8,500
-
1,686,086
(674,891)
-
(674,891)
Total governmental activities
20,826,106
3,499,175
789,059
3,247,603
(13,290,269)
-
(13,290,269)
BusinesstypeActivities.
Golf Course
523.007
453453
-
286,423
-
216.859
216,869
Sewer
4,108,589
2,585,046
6,857
872,365
-
(644,321)
(644,321)
Softball Complex
405,814
142,924
101
-
-
(262,789)
(262,789)
Solid Waste
2,283,361
2,386,871
-
13,848
-
117,358
117,358
Water
4,912,233
4,932,012
69,493
408,649
-
497,921
497.921
Total business -type
activities
12,233,004
10,500,306
76,451
1,581,285
(74,962)
(74,962)
Total primary government
3 33 059
110
$ 13,999,481
$ 865,510
$ 4,828,888
(13,290,269)
(74,962)
(13,365,231)
14
A 1 i 1 i 4 1 1 1 1 1 1 1 i 1 1 1 1 1
City of Cape Girardeau
Statement of Activities
For the Year Ended June 30, 2003
General revenues
Property taxes
2,135,601
Net(Expense) Revenue and
2,135,601
Program Revenues
Sales taxes
Changes in Net Assets
-
15,292,064
Primary Government
Franchise taxes
Operating
Capital Grants
-
2,905,247
Charges for Grants and
and
Governmental Business -type
Fu nctionsll'u, rams
Expenses Services Contributions
Contributions
Activities Activities Total
Primary government:
1234,390
-
Governmental activities.
Merchant license taxes
910,325
General revenues
Property taxes
2,135,601
-
2,135,601
Sales taxes
15,292.064
-
15,292,064
Franchise taxes
2,905,247
-
2,905,247
Motor fuel taxes
1,414,117
-
1,414,117
Convention and tourism taxes
1234,390
-
1,234,390
Merchant license taxes
910,325
-
910,325
Liquor license tax
56,237
-
56,237
Othertaxes
148,412
-
148,412
Unrestricted grants and contributions
49,014
-
49,014
Unrestricted investment earnings
890,334
582,945
1473.279
Gain on to of assets
18,925
10,658
29,583
Transfer
(5,884,538)
5,884,538
-
Total general revenues
19,170.128
6,478,141
25,648,269
Change In net assets
5,879,859
6,403,179
12283,038
Net assets - beginning
25,344,888
48,606,344
73,951,232
Net assets - ending
$ 31224747
$ 55,009,523
$ 86,234,270
15
i 1 i f t
1
1
1
Y t
11 1
11
1
1 1
1
1 1
City of
Cape Girardeau
Balance
Sheet
Governmental
Funds
For the Year
Ended June 30, 2003
General
Airport
Park and
Trans Sales Tax
Debt Service
Other
Total
Recreation
Trust Fund II
Governmental
Governmental
Funds
Funds
Current assets:
Cash and cash equivalents
$ 196,900
$ 150,030
$ 10,211
$ 356,468
$ 456,046
$ 5,521,724
$ 6,691,379
Investments
2,061,]20
60,000
109,866
3,]02,8]9
649,455
8,959.149
15,543,069
Real estate taxes
33,501
-
-
-
11,196
8,048
52,745
Personal property taxes
10,082
-
-
-
3,414
1,799
15,295
Sales tax
609,748
-
-
298.868
-
304,742
1,213,358
Franchise taxes
1,275,824
-
-
-
-
-
1,275,824
Hotel 8 motel tax
-
-
-
-
45,]]2
45,]]2
Restaurant lax
-
-
-
-
67,130
67,130
Special assessments
145,947
-
-
102,921
448.234
1,255,524
1,952,626
Other
30,893
2,081,225
57,006
-
-
527
2,169,651
Interest
305,519
92
-
-
1,486
7,248
314,345
Motor fuel tax
-
-
-
-
-
86471
86,471
Vehicle license lees
-
-
-
-
-
13,876
13,676
Motor vehicle sales lax
-
-
-
-
-
23,882
23,882
Grants
109,271
62,760
144
-
-
359,130
531,305
Other funds
6,696
-
-
-
-
-
6,696
Inventory
151
16,771
-
-
-
45,102
62,024
Prepaid Items
92,833
24,379
781
-
-
30,890
148,883
Total Current assets:
4,879,085
2,395,257
178,008
4,461,136
1,689.831
16,]31,014
30,214,331
Noncurrent assets'.
Advances to other funds
1,633,944
-
-
-
-
-
1,633,944
Total Noncurrent assets'.
1,633,944
-
-
-
-
-
1,633,944
Total assets
$ 6.513.029
$ 2.395.257
$ 1]8.008
_L__4 461 136
$ 1.569.831
_$ 16,731.014
-1__11_8_48275
16
l f ( Y i
1
1
1
1 1
1 1
1 1
f
1
i
1 1
City of
Cape Girardeau
Balance
Sheet
Governmental
Funds
For the Year
Ended June 30, 2003
General
Airport
Park and
Trans Sales Tan
Debt Service
Other
Total
Recreation
Trust Fund II
Governmental
Governmental
Funds
Funds
LIABILITIES AND FUND
BALANCES
Current liabilities'.
Accounts payable
$ 292,761
$
96,281
$ 63.514
S 54,979
$
-
$ 464,627
$ 972,162
Salaries and benefits payable
45.704
5,055
30,464
-
-
672
81,895
Other liabilities
70.509
37,012
13,509
-
-
-
121,030
Due to other governments
322
-
-
-
-
2,207
2,529
Payable to other funds
-
-
-
-
-
6,210
6,210
Unearned revenues
19,163
33,798
55,005
-
-
-
107,966
Deferred revenues
179,822
-
-
102,921
459,812
1,405,030
2,147,58]
Total Current liabilities:
608,281
172,146
162,492
157.900
459,812
1.878,746
3,439,377
Non current liabilities.
Advances from other funds
-
114,695
-
-
-
-
114,695
Total Non current liabilities:
-
114,695
-
-
-
-
114,695
Total liabilities
608,281
286,841
162,492
157,900
459,812
1,878,746
3,554,072
Fund balances_
Reserved
4,872,682
2,161,516
5,110
649,584
1,110,019
3.527.349
12,326,260
Unreserved
1,032,066
(53,100)
10,406
3,653,652
-
11,324,919
15,967,943
Total fund balances
5,904,748
2,108.416
-15 516
4,303,236
1,110,019
14,852,268
28,294,203
Total liabilities and fund
balances
$ 6,513,029
$
2,395,257
$ 178.008
$ 4,461,136
$ 1,569,831
$ 16,731,014
$ 31,848,275
17
1 1 1 1 11 1 1 1 1 It f 1 i 1 k 1 1 1 1
City of Cape Girardeau
Reconciliation of the Balance Sheet of Governmental Funds
To the Statement of Net Assets
For the Year Ended June 30, 2003
Fund balances of governmental funds
$ 28,294,203
Amounts reported for governmental activities In the statement of net assets
Are different because'
Capital assets used In governmental activities are not
28,084,319
financial resources and, therefore, are not reported In the
funds.
Longterm liabilities, including bonds payable, are not due
(29,854,606)
and payable in the current period and therefore are not
reported in the funds.
Internal service funds are used by management to charge
3,915,389
the costs of management information systems, fleet
management, employee fringe benefits, workmen's
compensation, and equipment replacement to Individual
funds. The assets and liabilities of the internal service funds
are included in governmental activities In the statement of
net assets
Other long-term assets are not available to pay for current-
2,147,584,
period expenditures and therefore, are deferred in the
funds
Other accrued expenses which are not payable from current-
(1,362.142)
period revenues are included In governmental activities in
the statement of net assets
Net assets of governmental activities
$ 31.224 ]4]
18
1 1 1 f 1 1
1
Y 1
f 1 4
i Y
Y
1 1 1 /
City of Cape Girardeau
Statement of
Revenues. Expenditures, and Changes in
Fund Balances
Governmental Funds
For the Year Ended June 30, 2003
General
match,
Par4 and Trans sales Tax
oehl Sells.
other
Total
Recreation Trust Fund
Governmental
Governmental
Fund,
Fund.
REVENVES
Taees
E 12,069,948
E
E S 3.738567
$ 426973
5 5349,018
$ 215Bg506
License. fl pe-fix
1M4fi9
1]53
1,083,222
Inlergorernmenlal
550,589
195.14]
14 -
M211
2,00].]96
2,763759
Charges for services
352.161
745978
478836 -
3,414
1,580389
malchages
711015
711,015
Fars and music
]fie, 343
_
_
-
768,343
Miscellaneous
135,934
169069
2,637
2],150
89190
@3,980
n..sonsi revenue
1629fi3
7,165
2951 92,569
75819
462,540
80400]
Frivol as.eamenfis
7,094
- 11,014
179,672
274,083
471,763
TOUl revenue.
15038.516
1,117,359
414,431 3842,150
719. 125
B,Ie6796
3[.190.984
E%PENOITVRES
Current.
Adminishative
1,753528
1423,1]2
-
6,317
412,548
3,595,565
Oavalopmenl5enice.
1545.781
-
-
-
1URTHS
10501 Se
'Y's and Rermortuon
1,301,169
-
1,192966 -
-
2496.137
Elfin 3aley
8517,329
-
-
230.233
0747562
PuhucwaMs
2,014,245
_
- _
116,938
?131,103
oehl5eMce:
Adminishedre charges
-
-
18,659
69.411
80,070
Call premium
-
_
_
x,575
4,575
I'lerest
1023
21431
157
431871
860 792
1324,000
cosi
-
- -
5524
25,945
3141
-pal
1d
Is 704
-
3,697 300
730000
4,446,661
Capital pulley
-
2 ]14,499
-
$,9]5,169
8, 289,6fi8
Total expenditures
15.141,92
1450,307
1.193,125 2]14499
4,16.,252
8.533405
32,805.120
Excess (deficiency) of
revenues over
expend0um.
696,984
13a0,9ul
(I06687) 1,52],651
(3.4x4,52])
(344609)
(2,614,136
OTHER FINANCING
SOURCES (USES)
Transrers our
(1,866,924)
_
-
(5.372595)
(7,239,519)
layl
1]42500
326,720
]092]2 200,000
1427168
536.95]
4.540.617
Rand proceeds
-
_ _
339,874
15]9,208
1,919.082
other loan proceeds
-
-
-
83 030
83 830
Acer Orford-
1 W0
1000
Trust Other fi nancin.
sources and uses
J524,424)
324720
709 272 200 000
1767042
(3111,erm
(fi94 9901
Npl Change In Nnd
halances
172,560
(16 228)
SB5 1121651
(1,fi]].485)
(3516209)
(3,309126)
Fund halances-fishurm9
5732188
2124644
1a,931 2,5]5585
2]8]504
18, 36B,477
31,603.329
Fund hallows-endm9
E 5,904]48
$ 2106416
5 15516 5 1,303236
E 1.110019
E 14852268
$ 28294.203
19
I 1 1 1 1 1 1 i If t i i 1 1 1 1 i 1 If
holy or cape ebareeau
Reconciliation of Statement of Revenues. Esmond,
and Gnenges in Funal tt alances of Governmental Fend.
no the Statement of Activities
For the Veer Ended Jon. 30, Ti
Net change In fund balances to,yl governmental funds
IS 3.]09,1 46)
sported for gova'nmental ata vtllas In Ne stalament of ac Lvl6es
are nuRemm beta use
.comment sandy repos capnul umlzys as is pendimres.
4418414
Thompson. In me sbta mem or epiinlles 'he cosi or chop
assets s allocated ovannelr estimated useful holy and
ported ed gene es n p,f,ense Trio a the andi dy
ii omit.'ouvava exceeded depredation espense1the
-anent pesos.
The nal affect of yahoos u-selaneous transactions
1 181314
nyml cal assets (I e. sales, trade) us, and donations)
The Issuance of loll pl most pmvldes cuaeni Pnanclal reseurces ho
2,415,105
govemmenlal buds while the doc Ment of the principal of longterm
debt consumes me cogent nnaodal rasomces of governmental funds.
Neither transaction nowevee has any effect on net asset. Also,
governmental funds upping Ie effect orissuance cost, premiums,
cronies, on slmyor fen¢wban debt ra Ing ssued, wnerees mese
re fall and amodixea m me statement of activlhes. This
consulIs the net aged of these dlnnances at me hentoonl of long.
bpm dem and relalsol s ms
internal service bund are used by management o chane
na e3])
the cost of mana9ementbbrmeGon dysfemshest
management, employee Mnge wookmen
Corn pensadon. and equipment replacement fin ndfidual
Inas
The net revenue of cehain potatoes, of Internal servloe funds
61041
is reported with government affends.
Revenues In me statement of activities that do not produce
1 102,513
current financial remurces are not repgced in ilre bins.
Some discounts reported In the gatemen l ofaco Ndes do not
43,363
require the use orcugent frnencial resources and mesebre.
Ile nor reported as upenlmres n governmental Nord
change in at assent m govemmemill actldned
5 5.819 859
20
1 1 1 1 1 I 1 i 1 1 1 1 1 1 1 1 1 1 1
City of cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 30, 2003
21
Total Proprietary
Gov. Activities
Softball
Proprietary
Internal Service
Sewer
Water
Solid Waste
Golf Course
Complex
Funds
Funds
ASSETS
Curren) assets:
Cash and cash equivalents
$ 163,794
$ 93,628
$ 85,017
$ 4,905
$ 4,636
$ 351,980
5 242,105
Investments
1751,828
993,173
941,512
52863
49,858
3789,234
2,734,432
Receivables
Utilities char,,o
354,561
628.473
254,655
-
1,237629
-
Specialassessmenls
254,764
85,537
-
-
340.301
Other
15.678
27.188
1.848
75
-
44,792
18,958
Interest
1.186
16.453
-
-
-
17,639
-
Grants
11,495
8,256
15
-
343
20,109
-
Invents,
-
203,369
-
3771
-
207,140
9717
Prepaid Items
406,175
111,895
16.050
468
531
535,119
10746
Total Current as sets_
2,969421
2167.972
1,299,097
62.085
55.368
6.543 943
3,015,958
Noncurrent assets:
Rest Cash and Cash Equivalents
7467.571
156.306
251
-
-
7,624 128
-
Restlmestmems
128,810
2,800,028
2.677
-
2931,523
-
Advancesto other funds
-
-
-
114,695
Land
135,869
-
112,240
-
248,109
37,500
Buildings
8,179,938
209,477
812,404
143.802
7,720
F353 141
457.348
Equipment
2095733
1,393,139
1672860
421,540
168.722
5.751 994
4,076 729
Other Improvements
53,606.660
20,517,165
231,944
575,556
33,050
74966,595
115200
Construction In ping—
4,695,129
18,586.793
-
-
-
23,281,922
370,659
Apwmulatsd depreciation
(17,399,735)
(4420,994)
(2,074.230)
(629.784)
(166.469)
(24.697212)
(3,049421)
Total Noncurrent assets:
58,912,003
39.241914
758.146
511.114
43.023
99.466 200
2.122710
Total assets
$ 61,871424
5 41,409886
5 2057,243
S 573,199
$ 98.391
$ 106010,143
$ 5.138,668
21
A 1 1 1 1 1 1 1 1 1 1 l 1 1 1 f 1 1 1
City of cape Girardeau
Statement of Net Assets
Proprietary Funds
For the Year Ended June 30, 2003
22
Total Proprietary
Gov. Activities
Softball
Proprietary
Internal Service
Sewe
Water
Solid Waste
Golf Course
Complies
Funds
Funds
LIABILITIES
Current nabibties
Accounts payable 5
348,057
$ 327,291
$ 68.980
5 14,679
$ 31,449
5 790,456
$ 193,576
Salaries and benefits payable
46.971
1,08i
28.974
21,356
17.663
116,045
25,972
Interest payable
686,911
172.657
2,623
-
-
862,191
2,414
Other liabllllles
172.065
148.126
66.445
3.142
-
389,776
71
Estimated claims payable
- -
-
-
-
427,397
Due to other governments
1.227
24,802
-
-
26,029
231
Payable to other funds
-
-
486
486
-
Notes payable
Revenue bonds payable
2,227.000
650000
-
-
-
2,877,000
-
Lessehold revenue bonds payable
Certificates of participation payable
- -
-
-
-
Specialobligationbondspayable
79,542
50,618
34,841
-
165,001
-
Dafemaa revenue
Total Current liabilities:
3,561,773
1,374,575
201,863
39,177
49,598
5,228,986
649,661
Noncurrent llab40ies
Advances from other funds
321.933
-
750,000
372,011
190,000
1,633,944
Notes payable
-
-
-
-
400,000
Revenue bonds payable
34470,668
6424,075
-
-
42,994.743
Certificates of of penonst,on payable
-
-
-
-
194.845
Special obligation bonds payable
539.044
342480
237,196
-
-
1,118,720
Estimated landfill landfill post closure costs
105,000
105,000
Total Noncurrent llablities:
35.331.645
8766,555
1,092,196
372,011
190,000
45.752,407
594,845
Total liabilities 38.893.418
10141,130
1,294,059
411.188
239,598
50,979,393
1,244,506
N ET ASSETS
Invested in capital assets, net of related debt
16,413,143
28,038,764
491,049
511.114
43,023
45,497,093
-
Restricted for debt serese
-
1016,667
-
-
-
1,016,667
-
Restncfedmrdepreeiatmnandreplacement
127,000
580,000
-
-
-
707,000
-
Restricledforemergencyfund
281064
693.865
340933
-
-
1,315,862
-
UphisMiCled
1
939,460
(68,798)
(349,103)
(184.230)
5.494,128
348940162
Total net assets 5
22.978006
$ 3t 268756
$ 763.184
% 162.011
4 (1411207)
S 55.030750
$ 3894,162
Adjustments to reflect the consolidation of internal
service fund
activities rotated to enterprise funtlsnet assets
of brain.. type activities
21,227
55.009 523
22
1 i 1 1 f 1
1
1 1
i
i
1 i
i
1 1 1 1 1
Cityof Cape Glrar4eau
soleme In of Pevenues.
Expenses, and Cll....
x In Fund she Assets
proprietary Funds
For the Year Ended June 30.
2003
priander
type A -ties -Enterprise
Funds
Sewer
Wale,
..,in At
Goll Coma
Soflhall
Total
..is Aceirilies
Complex
Proprietary
Internal 3ervlce
Fund.
Funds
."Y'reg revenues:
Res del at drag $
1510,350
$ 2,77B D28
5 1,7ribAl3
$
E $
5,992.901
$
Gom me�Cial don'ss
901,990
1,989,35]
24.591
-
-
2,996.235
-
11 -der slaoon charges
554.190
-
-
554,130
-
ntnerleesanhcharyes
46,010
139131
)4.0]5
260.616
-
Concessimmvenues
-
-
63,531
70736
13A2A1
-
Epunmenl1.e,
-
-
-
6364
n, 868
18,232
-
Iridedlsharges
-
-
-
3.645000
us, 9e lees
-
-
303,0]5
60,959
444.036
R _ n
46,665
24.895
28482
450
(fill)
99.806
1,46]
Ul GPerot-
2565,045
4,932011
2,386,871
d56450
2,92f
10$06304
3,54Q5P
1,02517, ex zes.
Personnel semces
885,1]3
11],306
908844
265,8]9
224,50]
2,481]09
6ID,205
e4 85uppres
227 277
Iti
7,,515
59,5]3
52,942
7e2,Cl
li
Cotold"lseu,",
10]915
209].5]0
]58.134
2746]
14486
1sol.SII
2462023
Generacresting d,s... s
42,4]0
152,195
5].]45
43,496
53586
349.492
43,441
9p -I pmg2ms
24,610
43712
54.069
1reB
0,921
136306
ro ep.nses
66361
dB"e
159.599
49,305
23,094
346.409
229]
Oepedallon
1511,84]
643,001)
151,411
d5,073
B, el]
2, bin 940
4]1,393
Total opprating evpenses
2,865,653
4.233.]66
2,240.337
198069
386.353
10 274
3,090.6]6
Opereling l"eme(los)
1200606)
6d B, 245
Id6, 534
(45415)
(24]430)
225326
141,3591
cnopememg revenues(brands)
nlergcvOm men lel
6 f1
69493
-
-
101
76,411
-
Compensalionlordamages
-
-
-
-
-
-
4 298
vs menl revenue
301,543
158.600
34]62
]IS
1,310
582946
g3 327
Ganrmm pale of asset
33
-
6,90e
1,725
-
10650
1],925
I ,teat and lips, charges
]1, 15 e, 033)
Ifi09,]11)
(44,009)
(19,8451
7up,
1.841 171)
1147821
or amimporson
161,111)
(17,P41
202
-
-
(u0286)
it 113)
Rod elm sale of apIbt
(378)
19391
11 74)
-
-
(1,491)
(5,6351
Loss 0, rene,noul of dent
116,851)
-
-
(M,0501
fowl 17x17 opron, revenue
to^pens ecI
(842,7421
oto I.)
13191
1174051
(6177)
(1.266 743)
93 sal
me INe.I before
conN huG on. and tmdsfe¢
(1,123,350)
240,245
1,6215
162,8201
(249 707)
11041,417)
49,221
Conldhutad sp-connect Re
141.111
-
-
-
145,170
-
Con!nbWM:apdevelopen
727.195
190 E72
91],06]
-
Conldhuledcap-donaledassl
-
-
-
256423
-
205,423
-
Conuihu1.line -govemmenl
-
3.066588
-
-
3, Cfit.111
-
Canldhuted cap -grants
312,792
13,840
326 til
imnsle¢m
2,300.162
120,000
-
]6,6]0
224, 4e3
2]21135
lap 1.
Rapiers out
(201,]33)
Ghangmn no assn,
2,049,077
3,940.26]
160.163
lit
(25,304)
6414,016
26,980
Total net asset, - perion,
20.926929
2],328.459
623.121
(130262)
(115,903)
40,606344
906].1]4
Into net asset -eryt $
22, 9]5,0e6
5 3121B.]Sfi
E ]63,184
E 162011
E 41,2071 4
55, P30]50
$ 3.894,162
Ad,turmente to renew the
cprephdiplio r
of lntemal service fend acnyltude
related to enterprise fonds
21 Ill
Change in net assets of
businesstypeactivities
64031 le
23
1 f 1 1 i f t it 1 1 1 1 1 1 1 1 i Y 1
?4
City of Cape Girardeau
Statement of Cash Flows
Proprietary Funds
For the
Year Ended June 30,
2003
Business -type
Activities - E t
Funds
Governmental
Total
Activities -
Proprietary
Internal
Sewer
Water
Solid Waste
Golf Course
Softball Complex
Funds
Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers
2,566,313
5.035.724
2,305,552
454,032
142,925
10,51
101,080
Receipts from impound services provided
-
-
24,891
-
-
24,891
3,750,583
Reimbursement of excess claims from insurer
-
-
-
-
-
22,648
Payments to suppliers
(344,239)
(3,33],9]0)
(925,604)
(129,474)
(119,587)
(4,856,874)
(2,]00,4]2)
Payments for salanes and benefits
(885,890)
(116.983)
(1111 )
(266.775)
(222,829)
(2,480,527)
(608,853)
Payments for interfund services used
(70,178)
(48.050)
(160,249)
(55.784)
(26209)
1360,470)
(2,987)
Payments made in lieu of franchise taxes
-
(122,300)
-
-
(122,300)
-
Remittance of taxes collected from customers
(161,711)
(161,711)
Net cash provided (used)
by operating activities
1,256006
1,248,710
255,540
1,999
(225700)
2.547555
561.999
CASH FLOWS FROM NONCAPITAL FINANCING
ACTIVITIES
Transfers from other funds
-
120,000
-
]8,6]0
224,889
421,559
-
Transfer to other funds
-
-
(i ]J,500)
Interest paid to other funds
-
(30,9)
(7,698)
(3],685)
-
Subsidyfro al9rant
90.181
73 .4fi2
11
119
2.743
166.515
cas
Netet cash provided (usetl)by
n0ncapital financing activities
90,191
193.462
(30,050)
76,670
219,936
550.209
(173500)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING
ACTIVITIES
Proceeds from capital debt
608.708
387,360
266,631
-
-
1,262,699
400,000
Gapital contributions
285,925
49,611
21,348
-
-
356,885
-
Purchase of capital assets
(160.345)
(93,780)
(62,676)
(2,950)
-
(319,751)
(648,338)
Acquisition and construction of capital assets
(2,820,318)
-
(29,063)
-
-
(2,849,381)
(7,745)
Principal paid on capital debt
(2,969,948)
(960,000)
(265,003)
(17,989)
-
(4,212,940)
(95,459)
Interest paid on capital debt
(700.082)
(573,020)
(14,336)
(19,845)
-
(1,307,283)
(15,850)
Proceeds from sales of capital assets
33
535
9,050
1,725
-
11,343
51,897
Transfers in for capital aquisilipns
212,000
-
-
-
212,000
179.500
Transfers in for payment of capital related debt
2,088,062
-
-
-
-
2,088,062
-
Transfers out for payment of capital related debt
-
(28.2321
Net cash provided (used) by capital
and related financing activities
(3,455,954)
(1,189,294)
(74,049)
(39 059)
(4,758,366)
(164,227)
?4
1 1 f 1 1 1 1 S Y i 1 1 1 i {
2S
City of Cape Girardeau
Statement of Cash Flows
proprietary Funds
For the
Year Ended June 30, 2003
BusinesstypeActivities-
Enterprise
Funds
Governmental
Total
Activities -
Proprietary
Internal
Sewer
Water
Solid Waste
Golf Course
Softball Complex
Funds
Service Funds
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
376,090
175,091
39,808
811
1 52
593.327
106,066
Rebetable Interest received
13,699
-
-
-
-
13,699
-
Payment ofobstacle interest to government
(26.929)
-
-
-
(26,929)
-
Netchangelnpooledlnvestments
(984,475)
(473.005)
(288,312)
(37,494)
2,082
(1,]81,204)
(383,906)
Proceeds from sales and maturities of Investments
2]],524
-
88,824
-
-
366,348
230,000
Purchase of investments
-
-
-
-
(241,690)
Repayments reserved on advances made to other funds
25.305
Net cash providetl (used)
by Investing activities
(344,091)
(297,914)
(159 680)
(36 683)
3,609
(834
759)
(264,225)
Net increase( decrease) in cash and cash equivalents
(2,443,858)
(45,036)
(7,239)
2,927
(2,155)
(2,495,361)
(39,953)
Balances beginning of year
10075223
294.970
92.507
1,978
6,791
10471
469
282058
Balances-endoftheyear
7.631365
249,934
_85 268
4.905
4,636
]9]6108
242105
Reconciliation of operating income (loss) to net cash
provided (used) by
operating activities:
Operating income (loss)
(280608)
648.245
146,534
(45,415)
(243,430)
225,326
(44,359)
Adjustments of operating income to net
cash provided (used) by operating activities'.
Depreciation expense
1511,846
643,000
151,411
45,873
8,818
2,380,948
471,392
Changes In assets and liabilities.
Accounts payable - supplier
36818
9.687
9,078
1,703
7389
64,475
110,579
Accounts payable other
24,013
5.435
(33,190)
496
(3,245)
3
Salaries and benerits payable
(717)
323
794
(896)
1,678
1,182
1,352
Customer receivables
(26,142)
(40,428)
(44,700)
81
(111,189)
7,015
Other operating receivables
-
52,786
26,541
79.327
17,330
Prepaid expenses
996
1,267
72
(24)
(155)
2,156
4,514
Inventory
(71,606)
181
(71,425)
(5827)
Net Cash provided (used) by operating activities
1.266D06
1.248.]10
256540
1999
(225,700)
2.547.555
561999
2S
L 1 City of Caped irardeau, III, III
Statement of Fiduciary Net Assets
Fiduciary Funds
For the Year Ended June 30, 2003
Agency
Funds
ASSETS
Cash and cash equivalents 75,744
Investments 843.150
Real estate taxes 17,579
Personal property taxes 5,065
Other 56
Grants 265
Total assets $ 941,859
LIABILITIES
Accounts payable 40.451
Salaries and benefits payable 5.455
Other liabilities 895,953
Total Liabilities $ 941.859
NET ASSETS
Held in trust for pension benefits
and other purposes
26
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL. STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Cape Girardeau, Missouri (the City) operates under a charter, which went into effect April 12,
1982. The City operates under a Council -Manager Corm of government and provides the following sen ices 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 govenvnent 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. Reporting 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 Cape Girardeau (Missouri) Public Facilities
Authority (CGPFA) is a blended component unit of the City. The financial statements of the CGPFA are
included in the accompanying financial statements of the City.
Cape Girardeau (Missouri) Publi e Faci lilies Authority -As described in Note E, the City has entered into four
(case agreements with the CGPFA. The CGPFA is a not-for-profit corporation organized and existing under
Chapter 355 of the Revised Statues ofMissouri. The CGPFA board of directors consists of City officials and
City COunellmembers. Due tothe significant City influence and financial accountability, the activities ofthc
CGPFA are blended with the financial presentation of the City. The CGPFA was organized to execute the
- bond indentures for the purpose of issuing and securing the Series 1993 Bonds, Series 1994A Bonds, and
Series 1997A Bonds, and 1997B Bonds. These bonds were used to finarec construction and improvements to
sewer, solid waste, street, airport, flood control, and othcrcapital improvetnent projects. The bond payments
are obligations of the CGPFA. The CGPFA has entered into a Lease Purchase Agreement with the Cny Goin
which the lease payments will be used solely to retire the debt.
y Although not a component unit of the City, the City handles the funds of and provides accounting and other
services for several entities. Since these fonds are held bythe City. these entities are shown as Agenc}•Funds
in the financial statements.
27
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
,. 2. Government -wide and fund financial statements
The government -wide financial statements (i.e., the statement of net assets and the statement of changes in
net assets) report information on all of the nonfiduciary activities of the primary government and its
component units. For the most part, the effect of interfund activity has been removed fi-om these statements.
Governtnentril activities, which nomnallyare supported bytaxes and intergovernmental revenues, are reported
separately from business-npe activities, which rely to a significant extent on fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or
segment are offset byprogram revenues. Direct expenses are those that are clearly identifiablewith a specific
function or segment. Program revenues include I) charges to customers or applicants who purchase, use, or
directlybcnefit from goods, services, or privileges provided by a given function or segment and 2) grants and
contributions that are restricted to meeting the operational or capital requirements of a particular function or
segment. 'faxes and other items not properly included among program revenues are reported instead as
general revenues.
�. Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds,
even though the latter are excluded from the government -wide financial statements. Major individual
governmental funds and major individual enterprise funds are reported as separate columns in the fund
financial statements.
3. Measurement focus, basis of accountine and financial statement presentation
The govcmment-wide financial statements are reported using the economic resources measru enieut focus and
the accrual basis ofacconuting, as are the proprietary fund financial statements. Revenues are recorded when
earned and expenses are recorded when a liability is incurred, regardless ofthe timing of related cash Flows.
Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the
provider have been met. With the economic resources measurement focus all assets and liabilities associated
with operations are reflected in the statement of net assets
Governmental fund financial statements are reported using the nrrrent financial resrnvices measroeneent focus
and the morhfed accrual basis ofaccormtmg. Under the modified accrual basis revenues are recognized as
soon as they are both measurable and available. Revenues are considered to be available when they are
collectible" ithin the current period or soon enough thereafler to pay liabilities of the current period. For this
purpose, the government considers revenues to be available if they are collected within 30 days of the endo f
the current fiscal period. Fxpenditures generally are recorded when a liability is incurred, as under accrual
accounting. I-Iowever, debt service expenditures, as" t1l as expenditures related to compensated absences and
claims and judgments, are recorded only when pavurcnt is due. Those revenues susceptible to accrual are
properlytaxes, franchise taxes, special assessments, licenses, interest revenue and charges for waives. 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
incash. With the current financial resp Arc es measurement focus. on lvcurrent assets and current l i abilities are
generally included on the balance sheet.
28
y City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
3. Measurement focus, basis of accounting and financial statement presentation - Continued
The government reports the following major governmental funds:
The general fiord is the government's primary operating fund. It accounts for all financial resources of
the general government, except those required to be accounted for in another fund.
The airportjmd accounts for the resources used in the operation and maintenance of municipal airport
facilities.
Theparks and recreation fiord accounts for the resources used in the operation of park and recreational
activities.
The transportation sales tax trust 11 fund accounts for the receipt and expenditure of a capital
improvement sales tax that was approved by voters in Auattst 2000 for street construction and
improvements.
The debt service finrd accounts for the resources accumulated and payments made for principal and
interest on general long-term debt of governmental funds.
The government reports the following major proprietary funds:
The seiner fend accounts for the operation of the city's sewage treatment plant, sewage pumping stations
and collection systems.
The waierfimd accounts for the operation of the city's water treatment plants and distribution systems.
The solid a asic fund accounts for the operation of the city's residential solid waste and recycling
programs.
The golffimd accounts for the operation of the municipal golf course.
The softball compler fund accounts for the operation of the city's softball complex, and maintenance of
the city's soccer, baseball, and softball fields.
Additionally, the government reports the following fund types:
buernol serrice finals account for data processing, fleet management, employee benefits, workmen's
compensation, and equipment leasing prodded to other departments or agencies of the gocemment, on
a cost reimbursement basis.
Agency fivads account for the operations of the library, arena improvement committee, and parks
dccclopment foundation.
29
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STAT EMENTS
June 30, 2003
NOTE A - S17MNIARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued
3. Measurement focus, basis of aceountine and financial statement presentation - Continued
Private -sector standards of accounting and financial reporting issued prior to December 1, 1989, generally arc
followed in both the government -wide and proprietary fund financial statements to the extent that those
standards do not conflict with or contradict guidance of the Governmental Accounting Standards Board.
Governments also have the option of following subsequent private -sector guidance for their business -type
activities and enterprise funds, subject to this same limitation. The govemment has elected not to follow
subsequent private -sector guidance.
As a general rule the effect of interfund activity has been eliminated from the government -wide financial
statements. Exceptions to this general rule are payments -in -lieu of taxes and other charges between the
government's enterprise function and various other functions ofthe government. Elimination of these charges
would distort the direct costs and program revenues reported for the various functions concerned.
Amounts reported as program revenues include 1) charges to customers orapplicants for goods, services, or
privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including
special assessments. Internally dedicated resources are reported as general revenues rather than as program
revenues. Likewise, general revenues include all taxes.
r Proprietary funds distinguish operating revenues and expenses front nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of
the city's enterprise funds, and of the city's internal service funds are charges to customers for sales and
services. Operating expenses for enterprise funds and internal service funds include the cost of sales and
' services-, administrative expenses, and depreciation on capital assets. All revenues and expenses not meet-
ing this definition are reported as nonoperating revenues and expenses.
30
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued
4. Capital Assets
All capital assets are recorded at historical cost or estimated historical cost if actual historical cost is not
available. Additions 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 is charged as an expense against operations in proprietary funds
and a program cost of governmental activities in the statement of activities. Assets are reported net of
depreciation on proprietary fund and government -wide statement of net assets. Depreciation has been
provided over the estimated useful lives using the straight-line method. The estimated useful lives are as
follows.
Buildings 25-50 years
Improvements 10-40 years
Equipment 3-10 years
When applicable, interest costs are capitalized on self- constructed fixed assets.
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. No
reservations of net assets are made for encumbrances outstanding at the end of the year on the proprietary
fund and government -wide statement of net assets.
31
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A -SUMMARY OF SIGNIFICANT .ACCOUNTING POLICIES—Continued
6. Budgets and Budgetary Accounting
"fhe City adopts annual operating budgets for all funds.
The City follows these procedures in establishing the budgetary data reflected in the financial statements.
t. The City Manager submits to the City Council a proposed operating budget for the fiscal year the
following July 1. The operating budget includes proposed expenditures and the means of
financing them.
2. Public hearings are conducted to obtain taxpayer colnnents.
3. Prior to July 1, the budget is legally enacted through passage of in ordinance.
4. 'Fite 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 is employed as a management control device during, the
year for a]I funds.
6. Budgets for all funds are adopted on a budgetary basis.
7. if, during the fiscal year. the City Manager certifies there are additional ret=ewes to appropmuc,
unencumbered appropriation balances within a department, or there is an emergency situation the
City Council may amend the initial budget by ordinance. 'Fie initiat budget was adopttxl by -the
City Council on June 3, 2002 and amended on July 7, 2001 The initial budget and final amended
budget are both reflected in the financial statements.
For the year ended June 30, 2003 the fund expenditures for Vision 2000, Motor Fuel Tax. Capital
Improvement Salcs Tax -Flood Control, Transportation Sales -Fax Trust 1, Capital Intproyement-Sales Tax -
Sewer huprovemcnts, Debt Service, Park Improvurnents. FAU Projects, Corp Flood Control Projects,
Mamagenienr hifomiation systems, Frim�e Benefits, and Equipment Replacement funds exceeded their
appror'cd budgets by, S,492,$621, 5'57,-,89,$-,O,402,$99,739,59,910, $33,794, 513,213, $3,201,S15,605,
$435, 728 and S 12,70&. respectiveh'-
'The Statement of Rerenues, Expe.nctnures, and Chungcs in Fund Balances -Governmental Funds reports
revenues and expenditures on the modified accrual basis of accounting in accordance with GAAP. Tic
Statements of Raccnues, Expmrdiw;es, and Clnan_e.<, in Fund Balances-Budyct and Actual (Budget It Isis) li?r
all governmental fund types i,a prepared on a budgetary basis which includes encumbrances as expcmdinres.
32
33
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES— Continued
6. Budgets and Budgetary Accounting - Continued
The following reconciliation
adjusts GAAP basis to budget basis:
Excess(Deaeiency) of Revenues and Other
Financing Sources over (under) Expenditures and
Other Financing Uses
'
Park, and Tiznsvoneon Debt
Von-mo)or
Gcncml Aimotl Recreation 1le sl I I Service
Funds
GAAP13as1s
$ 172,560 (516,228) $584 51727,650 (S 1,677.455)
(S3.516,207)
Increase doe to
Year-end encumbrances
Adminlstralrce Sen ices
2.451 49,426 - - _
9,042
Development scrviees
6505 - - - -
-
Parks and recreation
1,371 - 70 - -
-
PubllcSefcly
45,380 - - _ -
5,281
Public works
6.153 - - - _
-
Capdolowlay
- - - 1,530,245 -
507,726
'
Advance from other funds
33,556 - - - -
-
Adjesl investnn els to market
10,982 195 450 13,566 5,104
40,145
Ws63r Imprnvemcnts Fund
not budgeted annually
902 816
106396 49621 X211 1543511 _5,1,04
3361 050
Decrease dire 1m
Year-end encumbrances
Ad mi nisl,mi scrvicgs
17,539 2.162 - - -
334
Development services
4,306
Parks and rccrcation
- - 4,329
Pubhe afav
5S,3SS - - - -
479
Public works
29,679
Capital outlay
- - - 649,584 -
934,942
Advance Repupmcros
253111 _
110.112 27.467 4329 649,584 __
93565
Rede,, Basis
_SL66,S46 _ s 9'-0 (S3 22� 52.621,677 (51,672,381
_(56S6,8 12)
The individual proprietary
fund schedules of comparing budget to actual is repotted on a budgetary
basis that
uses the modified accrual
basis of accounting with the exception of encumbrances. Encumbrances
arc
reported as expenses in the
year of encumbrance.
33
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
6. Budgets and Budgetary Accounting - Continued
Net Income (Loss)
GAAP [iasis
Solid
Increase due to
Softball
Prior vicar encumbrances.
water
Contractual scrn ices
C.
Capital Outlays
$2,049,078
Depreciation
S160,063
Capitol grants
(525,3031
Special assessments
4,684
Sewer connection fees
-
Bond proceeds
1.968 378
Interest paid I... mea aecmed
9,280
Interest cost amoniced
-
Cost of bond refunding amortization
643,000
AmmrLul hand premum/discount
45,873
Loss on early retirement of debt
-
Issuance cost amonv,ilmo
13,848
Amounts deferred m be used for future debt
Service on capital appreciation bonds.
42,839
Constr"amn fund earnings
_
Asset dispositions
14 i, 170
Adjust investments to market
-
DitTerenee benceen proceeds from sale of
fixed ..vets and earn or loss
393,753
Decrease due in
-
Year -cod oncumbmnces
S9,391
Contmcmal sea, a's
Capital outlays
..
Landfill closuremd
m.intcnancc costs
Interest paid marc than .cernal
3504
Bond principal paid
-
Annrricd Bond prenrUir discount
Issuance cost paid
297
Issonocc cost amartim(mn
-
Capital outlays
16,850
Cost ofbond rc funding zmonimuon
Amount deferred far future dcht
mnmc far cola")
17,374
apprcciaGon bond,.
-
merest subsidy recco ed.
22,024
Adlu4lmenr 10 rnbiiltt far
fawn landfill posa9aaaru
Deferred ter -macs
_
Conmbced capital
B dget Ba>;
Net Income (Loss)
-
-
Solid
Golf
Softball
Sewer
water
'Aasto
C.
Com
$2,049,078
S3,940,299
S160,063
5300.271
(525,3031
221
4,684
2,017
-
104
1.968 378
-
9,280
-
-
1,511,847
643,000
151,411
45,873
5.817
-
-
13,848
_
120,698
42,839
-
_
14 i, 170
-
-
_
618,754
393,753
271.030
-
S9,391
808,595
3504
51,559
-
-
-
297
1,007
-
16,850
61,114
17,374
-
-
22,024
-
378
-
-
20,237
23,582
7,518
96
209
_ -]}
472
325
5386162
1251,560
456.436
_
44969
9130
18,636
2,643
3,982
K940
4.167
962,186
-
66.445
8.414
3.546
-
151188
1,151
-
3411567
121
960,000
26,003
17989
-
10.046
-
6.393
-
4,400
-
-
-
202
3,0-''1.744
196 18;
69,840
2,9so
-
-
34,414
-
'_I,_T5
30.'_70
38,603
-
- S-,' 36
--8
3,5]? flit
_ 1_�S48
_-'E6_423
466'r
478 S S
502026
34 It(, 436'
S(IJ 11410
5_41)J rRO
S114 r3
521,924 5(20?471
34
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL SIATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POI.,ICIES - Continued
6. Budgets and Budgetary Accounting, - Continued
3S
Net Income 0-crss
Ua�a
Ra: ilmpLme Risk
Py,'p m
hrtMe�iit€
ti��,ksenen I'di,ee Ms�wgemcp�
.rl�,>w;Sa�
GAAP Basis
$(57,617)
$(73,001) £(14.63) $(21,182)
3252,551
Increase due to:
Prior year encumbrances
Contractual services
-
1,12t
Capital outlays
-
7,745 - -
41,191
Depreciation
136,135
39 337 -
245,922
Bond proceeds
-
- -
400,006
Difference between proceeds from
sale offixud assetsand gain or loss
7,586
440 - -
27,282
Issuance cost arnortizalion
837
- -
716
Adjust investment to market
389
973 2,099 5,050
2,24)
Repayment of infartra d loans
-
-
25,305
AmOrtlud bond pmmiumldisoount
70
_ _19194,974
_49 566 2 099 _J,050)
742.716
Decrease due to:
Year-end enemnbrances
Contractual services
3,c72 -
capital outlays
5,695
3,180
interest paid more than accrued
858
2 -
306
Principal paid
?oAoo
460 -
25,000
Capital outlays
{;q, 853
210 --
582286
146406
21334
__644867
Budgct Basis
S(8,449)
$15,131 S iLL2,(14) X16,132)
$350,7110
7. Inventories
ittcentories consistprimarily of supplies,
valued
at cos[. Cost is deinntined us'ine a weighted
average: method.
The cost 01 inventories is recanted
as expottdiarres
c r cNpen es wIlen Consnored rather
111,111 AN ku pnrchllsEtl
3S
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
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 ofgovemmental
funds are reported in the Statement of Net Assets. 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 rceoo sized in the current period. Bond
discounts and issuance costs for proprietary fund types are deferred and amortized over the tern 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. The accounting treatment of bond discounts and issuance costs used for
governmental activities in the govemmenl-wide statements is the same as that used for proprietary funds.
10. Cash and Investments
The City maintains an internal investment pool for the nrajm-ity of its non -restricted cash and investments and
a small portion of its restricted cash and investments. Investment revenue is allocated to each fund based on
its average equity balance in the pool.
Cash includes amounts in repurchase agreements and other short -lean investments with a maturity date
within three months of the date of purchase.
The City's investment policy authorizes the investment of 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 (I) 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; (q)
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. Bond
proceeds maybe invested as allowed in the bond indenture.
Investments, with a maturity date of one year or more at the time of purchase are recorded at fair slue. All
other cash and im-esunents arc recorded at cost or amortized cost.
36
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
11. Prepaid Items
Payments made to vendors for services that will benefit periods beyond June 30, 2003 are recorded as prepaid
items.
12. 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.
13. Lona -term Obligations
Only that portion of long -tern obligations expected to be financed from expendable available financial
resources is reported as a fund liability of governmental fund. Long-term liabilities expected to be financed
from proprietary fund operations are accounted for in the appropriate proprietary fund. Long -terra liabilities
expected to be financed from governmental activities are accounted for in the government -wide statement of
assets.
14. Interfund Transactions
Quasi -external transactions are accounted for as revenues, expenditures or expenses. Transactions that
constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly
applicable to another fund, arc recorded as expenditures/expenses in the reimbursing fund and as reductions
of expenditures/expenses in the fund that is rcimbtuscd.
All other interfund transactions, except quasi -external transactions and reimbursements, are reported as
transfers. Only net transfers between governmental and business type activitics are reflected on the
government -wide statement of activities.
15. Short-term interfund Receivables/Payables
During the course o f operations, numere us transactions occur between individual funds for goods prow ided or
services rendered- These receivables and payables are classified as "interfund receivables/payables" on the
governmental balance duel and proprietary statement of net assets. Only net receivables between
'lox ernmental and business type activitics are reflected as internal balances on the goverment -wide statement
of net assets.
37
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
16. Advances to Other Funds
Noncurrent portions of long-term interfund loan receivables and payables are reported as advances in the
governmental balance sheet and proprietary statement of net assets. Fund balances are reserved in
governmental balance sheet for interfund loan receivables to indicate that they do not constitute expendable
available financial resources and therefore are not available for appropriation. Only net long-temt interfund
loans between governmental and business type activities are reflected as internal balances on the govemment-
wide statement of net assets. Net assets are not reserved for interfund loan receivables on proprietary and
government -wide statements of net assets.
17. Post -Employment Health Care Benefits
In addition to the pension benefits described in Note G, 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 G). Currently, forty-two employees meet those eligibility requirements. TheCity
provides health care coverage for them until age 65. The cost of retirees' health care benefits is recogmized as
an expenditure as premiums are paid. For the year ending June 30, 2003, those costs totaled $129,782.
COBRA Benefits - Under the Consolidated Omnibus Budget Reconci liation Act (COBRA), the City provides
health care benefits to eligible former employees and eligible dependents. Certain requirements are outlined
bythe federal government for this coverage. The premium is paid in full by the insured on orbcforc 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 wcrc four
participants in the program as of June 30, 2003.
18. Infrastructure
During the year ended lune 30, 2003 all infrastructure completed during the fiscal year, including projects
started in a previous year, were recorded at their historical costs. All infrastructure completed in previsous
fiscal years will be recorded no later than fiscal year ending lune 30, 2007.
38
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE B - DEPOSITS AND INVESTMENTS
1. Deposits
At June 30, 2003, the caning amount of the City's deposits was $14,979,335 and the bank balance was
$19,664,188, which excludes $5,999 of petty cash funds held at various City locations. The deposits are
categorized in accordance with risk factors created by governmental reporting standards.
Carrying Bank
Amount Balance
Category 41 S14,979,335 514,912,970
Category 42 - -
Category #3 — $14,979,335 &14-912,97
Category #I 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 tmstdcpartmcnt in the
City's name.
Category#3 includes deposits which are uneol lateralized or the collateral is held by the financial institution's
trust department but not in the City's name.
2. Investments
Investments made by the City are summarized below. The investments that are represented by specific
identifiable investment securities are classified as to credit risk by the three categories described helowN
Category #1 Insured or registered, or securities held by the City or its agent in the City's name.
Category 42 Uninsured and unregistered, with securities held by the counter -party's trust
department or agent in the City's name.
Category 43 Uninsured and unregistered, with securities held by the counter -party, or by its department or
agent but not in the City's name.
39
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30,2003
NOTE B- DEPOSITS AND INVESTMENTS
2. Investments - Continued
Carrying Pair
value Value
U.S. Government
Sccunlie_s S a.476,$11 S9 ,476,MI
Cenificates of Deposit 7364 598 1 G 364 598
$25,H L409 521N41=409
NOTE C - PROPERTY TAXES
_
Property taxes attach as an enforceable
lien on property as of January 1. Taxes were levied on August I9,
2002, for collection during this fiscal year and were due on or befot e December 31. Most of the taxes are
collected in November and December.
The tax rates assessed at the time were as follows:
General Revenue
S-3Y35r` 00.00 assessed valuation
Public Health
.0587/100.00 assessed valuation
Debt Service
.16001 i OQ00 assessed valuation
Special Business District
.7793/100.00 assessed valuation
,f2 (Ad valorem)
-� Property tax receivable balances as of
June 30, 2603 are as follows:
Special
Gencral
Business Public Debt
-� Reectte
District Health Service Total
Current properly tax S43,080
51,833 S8,234 $ 5,222 $58,969
Delinquent property tax 9,294
91 1,262 12,010 21,057
Reserve for doubtful
Property tzucs�,' _Ff
-- _At - 75731 _a 022 X2.584
Net properlytax reccir able $43_583
71 )24 5.7,923S_68 44
40
41
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STA "DEMENTS
June 30, 2003
NOTE D - CHANGES IN CAPITAL .ASSETS
A summary of the capital assets for governmental activities included on the govenment-wide statement of net
activity for the year ended Jule 30, 2003 is as follows:
Balance Accumulated
Balance
July 1, 2002 Additions Deductions Depreciation
lune 30 2003
Land S 2,675,580 $ 1,309,443 S - S -
S 3,985,023
Buildings 7,657,931 79,983 - 394,924
7,342,990
Improvemcros other
Than buildings 3,611,929 82,642 - 285,064
1409,507
Equipment 2.460491 366,572 39,153 645,567
2,142,343
lidaslmclule - 9.860.827 - 131,968
9,728,859
Construction in progress 93,348 3459,549 69.285
1.483 612
Total general fixed assets -Id $15159016 -S-MA8 $1,457,523
$10092,334
Additions and deletions to the Enterprise Funds for the fiscal year 2003 were $8,666,097 and $181,067
respectively. Additions and deletions to the Internal Service Funds were $666,362 and $115,782
respectively.
A summary of the proprietary fund type capital assets i TIC] uded on the proprietary fund statement
of net assets
for the year ended .lune 30, 2003 is as follows:
Enterprise Internal
Fund Service Fund
Land S 248,109 $ 37,500
Buildings 9,353,142 457,348
Improvements other than building 74,966,594 115,200
Equipment 5,751,995 4,076,729
Construction in progress 23,281,922 370,659
$113,601,762 $5,057,436
Less: accumulated depreciation 24,691_,12 3,049,421
.$88.910.550 U008,015
41
Principal payments are made annually on November Land interest payments are made semi-annually on May
1 and November 1.
42
City of Cape Girardeau, Missouri
_
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONGTERM OBLIGATIONS
The following is a summaryofchanges in the long-temr debt included on the City's statement
of net assets
for the year ended June 30, 2003.
General Cnuscd Ducm
Govcrnmenttl Obligation Other Revenue Bonds Paid Other
ActiviGcs Bonds Debt- Lee, Go, narnerd
Toni
Debt payable in, 1, 2002 $1,280,000 7,955,562 S21608941 5710,06 $41,144
533,610503
Discountarnon,,mr, - 4,711 (6,395) - -
(1684)
Retired (855,000) (1945,000) (730,000) (3,516) (6,004)
(4,539,520)
Additions _.„)19.082
Dchtpayable J,,ne30,2003 $425,000 6,934,355 ___i2-11-_2 S4L _5727,340 $35,140
S30.994.3sI
-Other Debt mclndes Special Obligation Bonds, 1,,rhold Re,orn, Bonds and Cmificates of Punicipetion.
Special Leasehold Certificates
Business -type Obligation Revenue Revenue of
Activities Bonds Bonds Bonds Participation
Total
Bonds payable at
July 1,2002 - $48,091,967 $169,151 51,255,000
549,516,118
Discount Amortization
& Issue Cost 185 62,207 849 -
63,241
Bonds Issued 1,283,536 - -
1,283,536
Accumulated Interest - 813,570 - -
813,570
Bonds Retired - (3,196.000) (170,000) (1,255,000)
(4,621,000)
Bonds payable at
June 30. 2003 $1,283,7? 1 15 771 744 $
Bonds payable for governmental and business -type activities at .lune 30.2003 are comprised
of the following
individual issues:
S 425,000 1993 General Obliaation Refunding Bonds due as follows:
Fcat Ending Interest Principal Interest
June�30 Rate Due Due Total
2004 5.00% 5425,000 S10,6'_5 5435,625
Principal payments are made annually on November Land interest payments are made semi-annually on May
1 and November 1.
42
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
.lune 30, 2003
NOTE E - LONG TERN OBLIGATIONS - Continued
On April 20, 1993, the City 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 Cit
and are 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 wereissued to provide the City with funds which together with other legally available
funds of the City, were used to refund $3,580,000 principal amount of General Obligation Refunding Bonds,
Series 1987, of the City and pay the costs of issuance of the bonds.
S 3.125.000 Special Obligation Refunding and Improvement Bonds Series 2002
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2004
3.00%
$320,000
$119,030
$439,030
2005
4.50
485,000
106,955
591,955
2006
4.50
4W000
88,655
578,655
2007
4.50
335,000
70,093
405,093
2008
4.50
340,000
54,905
394,905
2009
3.75
35U00
39,380
389,380
2010
4.00
340,000
25,130
365,130
2011
4.00
155,000
15,655
170,055
2012
4.10
155,000
9,455
164,455
2013
4.10
155.000
3,177
158,177
x,125 000 _$532,435 $3,657,435
Principal payments are made annually on October 1, and interest payments are made semi-annually on
October I and April I.
On October 22, 2002 the City of Cape Girardeau issued 53,125,000 of Special Obligation Refunding and
Improvement Bonds Series 2002 with interest rates varying from 3.00% to 4.50%. The bonds are special
obligations of the City payable solely from the income and revenues provided for the year plus any
unencumbered balances from prior years.
13
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATIONS - Continued
The bonds were issued by the City for the purpose of providing funds to (a) pay the costs of refunding the
Building and Equipment Leasehold Reflmding and Improvement Revenue Bonds, Scrics 1993, issued on
behalf of the City by the Cape Girardeau Public Facilities Authority and outstanding in the principal amount
.. of $1,085,000, (b) pay the costs of refunding the Certificates of Participation (Capital Improvements
Projects), Series 1994A, issued on behalf of the City by the Cape Girardeau Public Facilities Authority and
outstanding in the principal amount of$1,255,000 and prepayingthe leasehold interest represented thereby,
(c) pay the costs of constructing certain street improvements within the City and (d) pay the costs of issuing
the Bonds, under the authority of and in full compliance with the City's Charter and the Constitution and laws
of the State of Missouri, and pursuant to an ordinance duly passed (the "Ordinance") and proceedings duly
and legally had by the governing body of the City.
The outstanding bond liability for the Special Obligation Refunding and Improvement Bonds Series 2002 is
allocated as follows: $1,880,000 for Govermnental activities and $1,245,000 for Business -type activities.
Series 1993 Sewerage System Revenue Bonds:
These bonds are dated September 1, 1993. The proceeds of the bond issue were used to defense (in -
substance) the S 1,170,000 1986 Sewerage System Revenue Bonds. On November 1, 2002, the bonds were
called and the City paid the remaining balance outstanding of $550,000.
$ 1.180,000 Waterworks System Revenue Bonds Series 1992 due as follows:
Year Ending
Interest
Principal
Interest
)one 30,
Rate
Due
Due
'Total
2004
7.45%
S 555,000
S 87,910
S 642,910
2005
7.45
625.000
46.563
671,563
$11.80 000 ..$134473 X1-3
—14473
These bonds arc dated April 15, 1992. The proceeds of the bond issue were used to purchase, extend and
improve the eater system serving the City. The purchase of the water system occurred on .lune 3, 1992.
Principal payments are made annually on March 1, and interest payments aremade semi-armually on March I
and September 1.
Additional principal of 58,090,000 originally payable through the fiscal years ending.iune 30. 2006 to 2012.
was defeused via an in -substance defeasance during the fiscal year ended June 30, 1996.
44
4n
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATIONS - Continued
S 8,365 000 Waterworks System Refrmdin2 Revenue Bonds Series 1995 due
as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due
Total
2004 4.600% $ 95,000 $ 418,627
$ 513,627
2005 4.750 100,000 414,258
514,258
2006 4.875 810,000 409,507
1,219,507
2007 5.000 890,000 370,020
1,260,020
2008 5.000 980,000 325,520
1,305,520
2009 5.200 1,019000 276,520
1,286,520
2010 5.000 1,065,000 224,000
1,289,000
2011 5.000 1,120,000 179750
1,290,750
2012 5.000 2,295 000 114,750
2 409750
S8365,00 000 2 723 952
$11,088,952
Principal payments are made annually on March 1, and interestpayments are made semi-annuallyon March I
and September 1.
On December 1, 1995 the City issued $9,095,000 of Waterworks System Refunding
Revenue Bonds Series
1995 with interest rates varying from 3.9% to 5.2%. The bonds are special
limited obligations of the City
payable solely from the net income and revenues derived by the City from
the operation of the Watenvorks
System after payment of costs of operation and maintenance.
The bonds were issued to provide the City with funds to dcfeasc $ 8,090,000
principal amount of Waterworks
System Revenue Bonds, Series 1992.
4n
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATIONS - Continued
S 1,745,000 SeweraOc System Revenue Bonds (State Revolving Fund Program) Series 1991 due as
follows:
Year Ending
interest
Principal
Interest
June 30
Rate
Due
Due
Total
2004
6.875%
S 110,000
S 119,969
S 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
215,00(
14,781
_229 781
57 745,000
$798,530
$2 543 530
These bonds are dated December 1, 1991. The proceeds of the bond issue were 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 I and
December I.
The interest due on the 1991 Sewer System Revenue Bonds is subsidized by interest carvings on a reserve
fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the
construction funds hold by the trustee, the State of Missouri Department of Natural Resources deposits an
amount equal to approximately51.907%ofthe reimbursemcut into thereserve fund. 'I lie maximum amount
of funds that will be advanced to the reserve fund will be 57,250,000. As bonds are retired 50% of the
amount of bonds retired will be repaid to the State of Missouri Department of Natural Resources out of the
reserve fund. The balance of the reserve fund at Juno 30, 2003 was $1,053,060. The resewc fund yields
6.71 %.
During the fiscal year-end June 30, 2001 certain bonds originally issued by the State Environmental
Improvement and Energy Resources Authority as part of the State Resolving Fund Program were refunded.
Annual debt service savings resulting from this transaction are to be used to offset Citydebt set- icepayments
duc on Series 1991 Bonds. Dunng the fiscal _year ended Jtme 30, 2003, City interest expense was reduced by
578.923 as a result of this transaction. Over the remaining life of these bonds, the City will receive net
present value benefits of approximately $151,000 fiom this transaction.
46
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 354,000 Sewera eeSSystem Revenue Bonds (State Revohine Fund Program) Series 1993 due as follows:
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
2004
4.800%
S 22,000
S 18,074
S 40,074
2005
4.900
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
5.200
27,000
13,242
40,242
2009
5.250
28,000
11,805
39,805
2010
5.400
30,000
10,260
40,260
_
2011
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
39A00
1,053
40,053
$354,000
$1.2.%471
_ _$479,471.
These bonds are dated August I, 1993. The proceeds ofthe bond issue were used to extend and improve the
existing sewerage facilities serving the City.
Principal payments are made annually on March I, and inter est payments are made semi-annuallyon March I
and September I.
The interest due on the 1993 Sewer System Revenue Bonds is subsidized by interest earnings on a rescive
fund held by the band issue's trustee. As the City is reimbursed for sewer project expenditures from the
construction funds held by the trustee, the State of Missouri Department of Natural Resources deposits an
amount equal to approximately 70.00% of the reimbursement into the reserve fund. The maximum amount o f
funds that" ill be advanced to thereserve fund will be $350,000 As bonds are retired, 70% of the amount of
bonds retired will be repaid to the State of Missouri Department of Natural Resources out of the resen°e fund.
The balance of Ihereserve fund at June 30, 2003 was $247,800. The reserve fund yields 5.15%.
47
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOPE E - LONG-TERM OBLIGATIONS - Continued
S 8,653.978 Water Pollution Control Revenue Bonds (State Revolving Fund Program) Series 1995D due as
follows:
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
2004
5.400%
S 924,769
S 53U31
$1,455,000
2005
5.500
928,413
626,587
1,555,000
2006
5.650
932,824
742,176
1,675,000
2007
5.750
937,566
862,434
1,800,000
2008
5.850
943,267
996,733
1,940,000
2009
5.950
946,770
1,143,230
2,090,000
2010
6.050
722,409
992,591
1,715,000
2011
6.100
413,574
636,426
1,050,000
2012
6.150
380,828
654,172
1,035,000
2013
6.150
354,978
670,022
1,025,000
2014
6.200
326,281
683,719
1,010,000
2015
6.200
303,920
696,080
1,000,000
2016
6.250
278,844
706,156
985,000
2017
6.250
259.535
715,465
975,00
$_86-53,978
_� 656 022
S 1%31 Q o00
These bonds are dated June I, 1995. The proceeds of the bond issue were used for the extension and
improvement of the existing sewerage system serving the City.
Principal and interest payments are made annually on January t beginning in 1998.
-�
The interest due on the 1995D Water Pollution Control Revenue Bonds is subsidized by interest eamins on
reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from
the construction funds, the State of Missouri Department of Natural Resources deposits an amount equal to
70% of the disbursement into the reserve fund. The maximum amount of funds that will be advanced tothe
reserve fund will be 709% of the principal amount less the original issue discount. Asbondsarerctirc1170%
of the amount of bonds retired cvill be repaid to the State of Missouri Department of Natural Resources out of
the reserve fund. The balance of thereservc fund at June 3Q 2003 was 56,057,785. The reserve fund yicl is
48
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATION - Continued
$12325000 Seweraec Svstem Revenue Bonds (State Revolving Fund Program) Series 1996 due as follows:
Year Ending
Interest
Principal
Interest
June 30,
Rate
Due
Due
Total
2004
5.000%
$590,000
$702,209
57,292,209
2005
5.150
600,000
672,709
1,272,709
2006
5.250
610,000
641,809
1,251,809
2007
5.350
690,000
609,784
1,299,784
2008
5.500
700,000
572,869
1,272,869
2009
5.600
715,000
534,369
1,249,369
2010
5.700
730,000
494,329
1,224,329
2011
5.875
745,000
452,719
1,197,719
2012
5.875
765,000
408,950
1,173,950
2013
5.875
780,000
364,006
1,144,006
2014
5.875
800,000
318,181
1,118,181
2015
5.875
875,000
271,181
1,146,181
2016
5.900
895,000
219,775
1,114,775
2017
5.900
920,000
166,970
1,086,970
2018
5.900
945,000
112,690
1,057,690
.. 2019
5.900
965,00
56,935
1,021 935
$12,325,000 $6,599,485 $18924485
These bonds arc dated June 1, 1996. The proceeds of the bond issue were used for the extension and
improvement of the existing sewerage system serving the City.
Principal payments are made annually on .lanuary 1. Interest is paid semi-annually on January I and July 1
beginning in 1997.
The interest due on the 1996 Sewcragc System Revenue Bonds is 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, the State of Missouri Department of Natural Resources deposits an amount equal to 707;,
of the disbursement into the reserve fund. The maximum amount of funds that will be advanced to the
reserve will be 59,474,500. As bonds are retired, 70% of the amount of bonds retied mill be repaid to the
Deparunent of Natural Resources out of the reserve llmd. The balance of the reserve fund attune 30, 2003
was 58,627,500. The resewe fund yields 5.70%,.
49
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATION - Continued
During the fiscal year ended June 30, 2001 certain bonds originally issued by the State Environmental
Improvement and Energy Resources Authority as part of the State Revolving Fund Program were refunded.
Annual debt service savings resulting from this hansaction are to be used to offset Citydebt service payments
due on Series 1996 Bonds. During the fiscal year ended June 30,2003, City interest expense was reduced by
$14,528 as a result of this transaction. Over the remaining life of these bonds, the City will receive net
present value benefits of approximately $192,000 from this transaction.
$ 8,355,000 00 due as
follows:
Year Ending Interest Principal Interest
June 30 Rate Due Due Total
2004
4.400'%,
$50,000
$446,830
$496,830
2005
4.400
50,000
444,630
494,630
2006
4.500
55,000
442,293
497,293
2007
4.500
120,000
438,355
558,355
2008
4.500
130,000
432,730
562,730
2009
4.600
145,000
426,470
571,470
2010
4.625
165,000
419,319
584,319
.. 2011
4.700
185,000
411,156
596,156
2012
5.500
215,000
400,896
615,896
2013
5.500
230,000
388,659
618,659
2014
5.000
250,000
376,084
626,084
2015
5.625
275,000
362,099
637,099
2016
5.625
475,000
341,006
816,006
2017
5.625
555,000
312,037
867,037
2018
5.300
590,000
280,793
870,793
2019
5.400
1,590,000
222,228
1,812,228
2020
5.450
1,655,000
134,199
1,789,199
2021
5.500
1,620,00(
44 550
1,664,550
$8,355,000
$6,324,334
S14679=34
These bonds are dated November I, 2000. 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 July Land interest pa}anents are made semi-annually on July I and
January 1.
0
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATION — Continued
The interest due on the 2000 Sewer System Revenue Bonds is 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 State of Missouri Department of Natural Resources deposits an
amount equal to approximately 70% of the reimbursement into the reserve fund. The maximum amount of
funds that will be advanced to thereserve fund will be $5,848,500. As bonds are retired 70% of the amount
of bonds retired will be repaid to the State of Missouri Department of Natural Resources out of the reserve
fund. The balance of the reserve fund at June 30, 2003 was $4,535,230. The reserve fund yields 6.71%.
$22,850,000 Waterworks System Revenue Bonds (State Revolving Fund Prouram) Series 1998 due as
follows:
Year Ending
Interest
Principal
Interest
June -30
R=te
Due
Due
Total
2004
3.900%
$ 770,000
$ 1,087,425
$ 1,857,425
2005
4.000
810,000
1,057,395
1,867,395
2006
4.000
870,000
1,024,995
1,894,995
2007
4.100
920,000
990,195
1,910,195
2008
4.200
1,000,000
952,475
1,952,475
,. 2009
4.300
1,025,000
910,475
1,935,475
2010
4.375
1,080,000
866,400
1,946,400
2011
5.250
1,110,000
819,150
1,929,150
.. 2012
5.250
1,215,000
760,875
1,975,875
2013
5.250
1,300,000
697,087
1,997,087
2014
5.250
2,350,000
628,838
2,978,838
2015
5.250
2,445,000
505,462
2,950,462
2016
5.250
2,550,000
377,100
2,927,100
2017
4.500
2,655,000
243,225
2,898,225
2018
4.500
2,750,00
123,75(
2,873 750
U2 685050 000S11
(144.847
$33 H94,S,17
These bonds are dated Decemher 1, 1998. 1 tic proceeds of the bond issue w i Il be used for the extension and
improvements to the rcatemorks system.
Principal payments Lite made annually on January I. Interest is paid semi-annually en January 1 and July I
beginning on July 1, 1999.
5J
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATION—Continued
The interest due on the 1998 Waterworks System Revenue Bonds is subsidized by interest earnings on a
reserve fund held by the bond issues trustee. As the City is reimbursed for waterworks system expenditures
from the construction funds, the Department of Natural Resources deposits an amount equal to 33.41 % of the
disbursement into the reserve fund. The maximum amount of funds that will be advanced to the reserve will
be $8,517,235. As bonds are paid off, 33.41% of the amount of bonds retired will be repaid to the
Department of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30, 2003
was $6,385,068. The reserve fund yields 4.71 %.
Building and Equipment Leasehold Refunding & hnurovement Revenue Bonds (Capital Improvements
Prom), Series 1993:
_ 'Flit bonds were obligations of the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The
CGPFA had entered into a Lease Purchase Agreement with the City. Principal and interest were paid by
CGPFA from rental and other receipts from the City. The purpose of the bonds was to (1) pay the costs of
various street improvements for the City, (2) defease 510,410,000 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 outstanding principal on the bonds was retired on November 1, 2002, with proceeds from the issuance or
the Special Obligation Refunding and Improvement Bonds, Series 2002 and other available funds.
52
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATION -Continued
$256.000 City of Cape Girardeau, Missowi Lease Purchase Aereement dated lune 17 1999 due as follows:
Year Ending Interest Principal Interest
June 30 Rate Due Due Total
2004 5.000% S 27,000 $ 12,800 S 39,800
2005 5.000 28,000 11,450 39,450
2006 5.000 29,000 10,050 39,050
2007 5.000 31,000 8,600 39,600
2008 5.000 33,000 7,050 40,050
2009 5.000 34,000 5,400 39,400
2010 5.000 36,000 3,700 39,700
2011 5.000 38,000 _ 1,900 39,900
y __.$256,000 ___560=950 --Jl.l.0,950
The lease agreement is the obligation of the City of Cape Girardeau,Missouri. Principalandinterestwillbe
paid by the City from proceeds of the site lease and the lease agreement. The purpose of the lease act cement
was to (1) rehabi I itate and otherwi se improve the A. C. Bi ase Arena Building and (2) acquire a but Iding at the
Cape Girardeau Regional Airport known as the "Lipp's Hanger".
Principal payments are made annually on April 1 and interest payments are made semi-annually on April I
and October 1,
S 491,000 City of Cape Girardeau Lease Purchase Agreement dated March 312000 due as follows:
Year Ending Interest Principal Interest
June 30 Rate Due Due Total
2004 5.7500/,, $ - 528,233 S 28,233
2005 5 750 _ 491,000 28 233 519,2 33
$ 491,000 _$56,444 _ $547,466
Principal and inua est will be paid by the City fiom proceeds of the site lease and the lease agreement. The
purpose of the lease aereement was to purchase approxi mately 12 acres in the south central portion o f the Citc
for the Public Works Department.
The principal payment is made at maturity and on March I and
September I.
53
M
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 34, 2003
NOTE E - LONG-TERM OBLIGATIONS - Continued
sri fD, oRiFacilities ProeA Series 1,993.
The certificates were obligations of the Cityof Cape Girardeau, Missouri. Under a Lease Purchase Agreement
between the City and the Cape Girardeau (Missouri) Public Facility Authority (the "Corporation"), the
Corporation assigned the right to receive rental and other receipts from the City to Union Planters Bank of
Cape Girardeau County (the "Trustee"). The purpose of the 1993 Series certificates was forthe acquisition,
construction, furnishing, and equipping of a convention and recreational center, softball and soccer fields, and
improvements to the City Half,
the certificates were retired on April L 2003 using funds available to the City.
Certificates c,f Participation Twi Lakes Proiect)_ Series -1994A.
The certificates ween obf,,ijians of the City of Crape Girardeau, Missouri_ Under a Lease Purchase
Agreement between tete City and the Cape Girardeau (Missouri) Public Facilities Authority (the
"Corporation"), the Corporation assigned the right to receive rental and other receipts from the City to Union
Planters Bank of Cape Girardeau County (the "Trustee"). The purpose ofthe 1994A Series certificates was to
(1) pay the costs of certain improvements to the City's wahrior fs and sewerage systems and costs associated
with the closing of City waste disposal site, (2) establish adebt service reserve fund for the Series 1994A
Certificates, and (3) pay the costs of issuance of the Series 1994A Certificates.
The outstanding principal on the bonds was retired on November (, 2002, with proceeds from the issuance of
the Special Obligation Refunding and Improvement Bonds, Series 2002.
54
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATIONS —Continued
.. S 1,160.000 Certificates of Participation (Capital Improvements Projects)
Set ics 1997A
Year Ending Interest Principal Interest
June 30 Rate Due Due
Total
2004 4.900% S 285,000 S 57,715
S 342,715
2005 5.000 490,000 43,750
533,750
2006 5.000 50,000 19,250
69,250
2007 5.000 335,000 16.750
351750
$1,1 60,000
$1,297,465
—513.7,405
The ccrtficales are obligations of the City of Cape Girardeau, Missouri under a Lease Purchase Agreement
between the City and the Cape Girardeau (Missouri) Public Facilities Authority (the "Corporation'), the
Corporation will assign the right to receive rental and other receipts from the Cityto Union Planters National
Bank (the "Trustee"). The purpose of the 1997A Series certjficaes is to (1) pay the costs of completing the
construction, Furnishing and equipping of a convention and recreational facility that constituted part of the
1993 project, (2) pay the costs of acquiring, co rstructm furnishing and equipping various equipment and
capital improvement projects, (3) fund the debt service requirements for the Series 1997A Certificates, and
(4) pay the costs of Issuance of the Scries 1997A Certificates.
Principal parnents are made annually on April 1, and interest payments are made semi-annually on April 1
and October 1.
55
City of Cape Girardeau, Missouri
' NOTES TO FINANCIAL STAPEMEN'I'S
June 30, 2003
NOTE E - I,ONG-TERM OBLIGATIONS - Continued
$'244 OGO Certificates of Pardeiaatian (Cavital hnArovements 1'roiectst. Series 1997B.
Year Ending, Interest Principal Interest
June 30 Rate Due Due
'I otal
2004 5.000% S 85,000 S 14,500
$ 99,500
2065 5.060 205 000 10;250
215.250
29 ,.000 —$24,750
_$313,'L24
The cei ti fixates are obligations of the City under a Lease Purchase Agreement between the City and the Cape
Girardeau ( Missouri) Public Facilities Authority (the "Cog)oration"), the Corporation wi l I assign the right to
receive rental and other receipts front the City to Union Planters National Bank (the "Trustee"), The purpose
Of the 1997B Series certificates is to (I) defease $755,000 outstanding principal amount of Cape Girardeau
(Missouri) Public Facilities Authority, Building and Equipment Leasehold Revenue Bonds (Airport
I inprovement Project) Series 1990B, and (2) pay the costs of issuance of the Series 19978 Ccrtificates.
Principal payments are made annually on April 1, and interest payments are made semi-annually on April 1
and October I.
56
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATIONS - Continued
57
52,815,000 Certificates of Participation (Renaissance
Aircraft), Series 2001
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
2004
S-
$157,487
5157,487
*2005
4.000%
90,000
157,487
247,487
*2006
4250%
110,000
152,931
262,931
*2007
4.300%
125,000
147319
272,319
2008
4.550%
125,000
140,940
265,940
2009
4.625%
130,000
135,253
265,253
2010
4.800%
135,000
129,240
264,240
2011
5.000%
140,000
122,760
262,760
2012
5.800%
150,000
115,760
265,760
2013
5.800%
160,000
106,760
266,760
2014
5.800%
165,000
97,160
262,160
2015
5.800%
175,000
87,260
262,260
2016
5.800%
190,000
76,760
266,760
2017
5.800%
200,000
65,360
265,360
2018
6.000%
210,000
53,360
263,360
2019
6.000%
225,000
41,180
266,180
,.
2020
6.000%
235,000
28,130
263,130
2021
6.000%
250 000
14,500
264,50
2.815r)OQ
$1,829,647
-4644647
* Includes taxable certificates of $45,000,
$50,000, and
$55,000 in years 2005-2007 with 6.125% coupon
The certificates are obligations
of the City
under a Lease Purchase Agreement
between the City and LIMB
Bank, NA. The Corporation
also acts as
the trustee who receives the rental payments for the benefit of the
certificate holders. The
purpose of the 2001 Series
certificates is to
construct and equip an airport
manufacturing facility to
be leased to Renaissance
Aircraft,
LLC.
Principal payinenls are made annually on
April 1, and interest
payments are
made semi-annually on April 1
and October 1.
57
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL. STATEMENTS
June 30, 2003
NOTE E - LONG-TERM OBLIGATIONS -Continued
The annual requirements to amortize all debt outstanding as of June 30, 2003 including total interest
payments of 541,059,452 are as follows:
58
General
Special
Leasehold
Certificates
Year Ending
Obligation
Obligation Revenue
Revenue
of
June 30
Bonds
Bonds Bonds
Bonds
Participation Total
58
2004 $435,625
$439,030 $6,528,044 $ 68,033
$599,702
S8,070,434
2005 -
591,955 6,647,944 558,683
996,487
8,795,069
2006 -
578,655 6,812,579 39,050
332,181
7,762,465
2007 -
405,093 7,098,155 39,600
624,069
8,166,917
2008 -
394,905 7,304,773 40,050
265,940
8,005,668
2009 -
389,380 7,403,608 39,400
265,253
8,097,641
2010 -
365,130 7,029,620 39,700
264,240
7,698,690
2011 -
170,655 6,332,357 39,900
262,760
6,805,672
2012 -
164,455 7,482,293 -
265,760
7,912,508
2013 -
158,177 5,058,676 -
266,760
5,483,613
2014 -
- 6,002,990 -
262,160
6,265,150
2015 -
- 5,773,795 -
262,260
6,036,055
2016 -
- 5,842,881 -
266,760
6,109,641
2017 -
- 5,827,232 -
265,360
6,092,592
2018 -
- 4,802,233 -
263,360
5,065,593
2019 -
- 2,834,163 -
266,180
3,100,343
2020 -
- 1,789,199 -
263,130
2,052,329
2021
1,604,55
264,500
1,929.050
$435&25
-3 65657 435 SL02,235,092 $864,416
S6 256 862
$-1I ;,44243(
The cash and investments
available to service revenue bonds are S918,371
and 57,776,863
for the
governmental and business
-type activities, respectively.
The cash and im estments available to service the leasehold revenue bonds
and cent 0cates
of participation in
governmental activities are $392,241 and S763.519 respectively.
lncluded in business -type
activities restricted cash on the statement of net
assets is 52,012,996,
which is the
balance in the 2000 sewer
project account which represent incomplete
projects at Tune
3Q 2003. If the
project funds are not used,
the remaining balance can he applied against
debt.
58
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE F - DEFICIT FUND BALANCES/RETAINED EARNINGS
The Softball Complex Fund's total liabilities exceeded its total asset by 5141,206.
NOTE G - PENSION PLAN
1. Plan Description
The City of Cape Girardeau participates in 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 is a defined benefit pension plan which provides retirement, disability, and death benefits to plan
members and beneficiaries. LAGERS was created and is governed by statute, Section RSMo. 70.600 -
70.755. As such, it is the system's responsibility to administer the law in accordance with the expressed intent
of the General Assembly. The plan is qualified under the Internal Revenue Code Section 401A and it is tax
exempt.
The Missouri Local Government Employees Retirement System issues a publicly available financial report
that includes financial statements and required supplementary information. That report maybe obtained by
writing to LAGERS, PO Box 1665, Jefferson City, MO 65102 or by calling 1-800-447-4334.
2. Fundin¢ Policy
The City of Cape Girardcau's full-time employees do not contribute to the pension plan. The political
subdivision is required to contribute at an actuarially determined rate; the cur ent rate is 7.3% (general), 4.5
(police) and 11.400/ (fire) of annual covered payroll. The contribution requirements of plan members are
determined by the goveming body of the political subdivision. The contribution provisions of the political
subdivision are established by state statute.
59
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE G - PENSION PLAN - Continued
3. Annual Pension Cost
For 2003, the political subdivision's annual pension cost of S816,335 was equal to the required and actual
contributions. The required contribution was determined as part of the February 28, 2001 and/or Febrnary 28,
2002 annual actuarial valuation using the entry age actuarial cost method. The actuarial assumptions included
(a) a rate of return on the investment of present and future assets of 7.5% per year, compounded annually, (b)
projected salary increases o[4.0% per year, compounded annually, attributable to inflation, (c) additional
projected salary increases ranging from 0.0% to 4.2% per year, depending on age, attributable to
seniority/merit, (d) pre -retirement mortality based on the 1983 Group Annuity Mortality table and (c) post-
retirement mortality based on the 1971 Group Annuity Mortality table projected to 2000 set back I year for
men and 7 years for women. The actuarial value of assets was determined using techniques that smooth the
effects of short-term volatility in the market value of investments over a five-year period. The unfunded
,. actuarial accrued liability is being amortized as a level percentage of projected payroll on an open basis. The
amortization period at February 28, 2003 was 15 years.
.� Three -Year Trend Information
Fiscal Annual Percentage Net
Year Pension Of APC Pension
Ending Cost LAPQ Contributed Obheation
r 06/30/01 $1,207,517 100% $0
06/30/02 1,094,292 100% 0
06/30/03 816,335 100% 0
Required Supplementary Info rnation
Schedule of Fundmv Progress
(a) (b) (b -a) (alb) ( c )
Entry Age Unfunded
.Actuarial Actuarial Actuarial AM red Annual
Valuation Value Accrued Liability Funded Covered
.. Date of Assets LiabilityL( tAL Ratio Pavroll
02129/01 22.858,664 20,495,003 (2,363,661) 1124;, 10,616,603
02/28/02 25.373.273 31,626,719 (3,746,554) 117% 10,820,521
02/28/03 25,569,913 22,568,671 (3,001,242) 113'io 10,807,486
Note: The above assets and actuarial acaued liability do not include the assets and present value ofbeneflts
associated with the Benefit Reserve Fund and the Casualty Rescr%e Fund. The actuarial assumptions were
changed in conjunction with the February 28, 2002 annual actuarial valuations. For a complete description of
the actuarial assumptions used in the annual valuations, please contact the LAGERS office in Jefferson City.
City of Cape Girardeau. Missouri
60
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE H - INTEREST EXPENSE
Interest cost, including handling charges, totaling 53,156,857 excluding 584,028 of interfund interest, was
incurred during the year ended June 30, 2003. No interest cost was capitalized as part of the cost of assets
constructed during the period.
NOTE 1 - INTERFUND RECEIVABLES AND PAYABLES
The following is a summary of interfund balances as of June 30, 2003:
Advance to/from other funds:
61
Advanccv from
Advances to
General Fund
$ 1.633,944
$
-
Gyuipment Rcpluccmcm Fund
114,695
R.,, Fond
-
321,933
Airport Fund
-
114695
Solid waste Fund
-
750,000
GolfCoursc Fund
-
372,011
Softt,A Complce Fund
$
190.0017
$ 1,748,639
$
1,745,639
NOTE J - SEGMENT INFORMATION
FOR ENTERPRISE
FUNDS
The City maintains five enterprise funds
which provide
sewer, water,
solid waste, golf, and
softball complex
services. Segment information for the
year ended
June 30, 2003
was as follows:
Softball
Smcer
Water
Solid Waste
GolfCourse
Complee
Tmal
Fund
Fund
Fund
Fnnd
Fund
ILnmpt",
Opcmring revenues .$2585.046
54912,012
$2,386,871
5453,493
814'934
S111500306
Dcprcciatlon 1,511.547
643,0110
61;111
15,873
8.817
3,164948
Opervtiny tonne (I rl (280.6117)
648,246
146,534
(454171
(243529)
325726
Opcattng trunetcn m 2300 062
130,000
-
76,670
224,401
2,111. US
V,t Inco,", ( 1.ossl 2,049.1178
3.944298
1611,063
300,271
(25103)
6,42440-
( Capita: Cont""mw ns 871365
1077,052
11r48
286,413
-
4,144.688
Prnpertv, Plant and Cqulprn,nt
Additions 5.,191.949
3.114.16
69840
2SY.373
-
0666.097
Uelttions !65121
(118.051)
(30.041)
(21_,19,)
(2_2671
(181067)
\et Wnrk ine Capital 160_'.3511
793,396
1097231
11,908
5.770
I3i695S
TomlAsscts (1171?31
41409,884
147'43
5111,199
95.391
106,010140
Bonds and Onc,t l.o,,g Term
I_iub,1it,,, Pacublc f,c,
Op,ralinc km roues -.31(,254
9,467,17)
27038
-
-
47055465
fatal S,t Ars S22,9-.8,006
S I _65.155
561,184
S 162,011
S (14],-116)
919 030.749
61
City of Cape Girardeau, Missouri
NO'T'ES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE K - RESERVATION OF FOND EQUITY
At June 30, 2003, the City had reserved its fund equity as follows:
General Fund
Reserved for emergency fund
52,927,721
Reserved for prepaid items
92,833
Reserved for advance
1,633,944
Reserved for mausoleum maintenance
83,072
Reserved for Local Access Channel
25,000
Reserved for encumbrances
110,112
$4,872.682
Airport
Reserved for prepaid items
$ 24,379
Reserved for encumbrances
2,162
Reserved for Long-term receivables
1,990,514
Reserved for Airport Facilities Project
144,40(
51161,515
Parks and Recreation Fund
Reserved for prepaid items
$ 781
Reserved for encumbrances
4,329
Transportation Sales Tax Trust Fund If
Reserved for encumbrances
5649,584
Debt Scrvicc
Reserved tot debt service
S 834,850
Reserved Cor emergency fund
275,169
$1,110 019
Other Governmental Funds
Reserved for encumbrances
$2,382,336
Reserved for emergencies
652,465
Reserved for prepaid
(29,493)
Reserved for River Campus
522,041
$3,547 349
G2
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE I. - RESERVED RETAINED EARNINGS AND RESTRICTED ASSET ACCOUNTS
At June 30, 2003, the City has restricted assets in its Proprietary Funds as follows:
Depreciation
Revenue Bond
And
Bond
Sinking and
R�placcment
comnuc io t
Reserve Fund
Tatal
ScwcrFund 5727,000
52.018,270
55,451,119
57,596,389
water Fund 58QOOD
3,157
2,372,977
2,q56,334
Solid waste Fund
2,31
618
928
5707,000
$202337__.$7824714
510,555,651
NOTE M - LANDFILL CLOSURE AND POSTCLOSURE CARE COST
Slate and federal laws and regulations require the City to place a final cover on its landfill when closed and
perfomn certain maintenance and monitoring functions at the landfill site for thirty years after closure. The
City closed its landfill in the fiscal year ending June 30, 1994, and an expense provision and related liability
were recognized at that time based on the future closure and postclosure care costs that were estimated to be
incurred near or after the date the landfill no longer accepted waste. The entire amount of the estimated total
costs for landfill closure and postclosure care costs was recognized in prior years since the recogmition is
based on landfill capacity used to date and the landfill was filled to capacity in prior years. The estimated
total future liability for landfill postclosure care costs is 5105,000 as of June 30, 2003, which 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 3(1 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 has used the option of a Contract of Obligation as the financial assurance instrument Cor the landfill.
The City issued bonds in October 1994 from which the proceeds have been used to pay the closure costs.
63
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE N - RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets;
errors and omissions; natural disasters and employee health benefits. These risks, with the exception of those
discussed in the following paragraphs, are covered by commercial insurance. Settled claims have not
exceeded this commercial coverage in any of the past ten fiscal years
The City is a member of the Missouri Public Entity Risk Management Fund, a not -fol -profit public entity
insurance pool established by the state legislature. Through this pool, the City receives coverage for general
liability, law enforcement liability, vehicle loss and accident liability, errors- and omissions, and employee
benefit liability. Risks for these coverages are spread across members of the fund. Currently the fund is
comprised of 580 Missouri counties, municipalities and, special districts. Premiums- for these coverages arc
actuarially determined based on actual claims of the pool and individual claims of the City. Each year,
portions of premiums not required because of below expected claims are returned to the members. TheCity
has received refunds of premiums in each of the last ten years and has used them to offset the cost of the
succeeding year's premiums.
The City has established self-insuranceplans for employees' health insurance and workmen's compensation.
Both of tltese are accounted for using internal service funds. Under each plan, the City is substantially self' -
insured and uses an administrator to handle claims management.
The Cityprovided health coverage to its employees through a minimum premium plan administered by Right
Choice Managed Care, which had an "A-" rating by A.M. Best. Under this plan the City paid the
administrator a monthly premium for claims administration, cost management, and specific and aggregate
stop loss coverage. The City reimbursed the administrator for claims paid up to the specific stop loss amount
of 575,000 annually per employee and up to the aggregate stop loss amount of approximately $1,100,000 and
51,660,000 annuallybeginning January 12002 and 2003, respectively, for all employees. These limits apply
only to claims made during the respective calendar years. Rates were charged by the internal service fund to
the other city funds to cover the monthlypremium to thcadministrator and claims tip the aggregate stop loss
an10u111.
64
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE. N - RISK MANAGEMENT - Continued
Corporate Claims Management, Inc administers the City's workmen's compensation plan. Under this plan,
the City pays the administrator a per claim fee to administer its claims. All claims are paid directly by the
City. The City has purchased insurance eovemge from Safety National Casualty Corp. that limits the
maximum claims to $225,000 and $275,000, for regular employees and police employees, respectively.
Additionally, $1,000,000 in coverage is provided for annual claims in excess of $535,000. Rates are charged
by the internal service fund to the other City funds based on rates and experience factors established by the
National Council on Compensation Insurance. Safety National is rated 'A-" by A. M. Best.
Claims liability is estimated using data supplied bythe administrator. The claims activity during the last five
years is summarized as follows:
CLAIMS LIABILITIES RECONCILIATION
Balance, July 1, 1998
Provision for Incurred Claims
Payment of Claims
Balance June 30, 1999
Provision for Incurred Claims
Payments of Claims
Balance Jnnc 3Q 2000
Provision for Incurred Claims
Payments of Claims
Balance June 30, 2001
Provision for Incurred Claims
Payments of Claims
'
Balance.Line ',0. 2002
Provision for Incurred Claims
Payment of Claims
Balance Junc 30, 2003
Health
Workers'
Insurance
Compensation
Total
S 220,000
S 388,996
S 608,996
478,229
121,155
599,384
(698,229
(212 946)
(911 175
$ -
$ 297.205
$ 297,205
778,268
252,105
1,030,373
(628,2M)
(220 602)
(848 870)
$ 150,00o
S 328,708
S 478,708
1,427,977
275,758
1,703,735
314529771
(294,7
(1,747,771
S 125,000
S 309,672
$ 434,672
1,274,192
327,400
1,601,592
X274.192)
(343_045�
(1617.237)
S 125,000
S 294.027
$ 419.027
1,632,710
215,620
1,851,330
(1.573.710)
(269250)
_(1842,9601
184000
—S 243397
$ 427,197
65
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 2003
NOTE O - CONCENTRATION OF CREDIT RISK/BAD DEBT ALLOWANCE
The City has uncollateralized utility accounts receivable generated within a limited geographical region
primarily consisting of its City limits. The City also has taxes, special assessments, and user fees receivable
which are concentrated among its citizens. Some of these items attach as liens against real and personal
property. The maximum accounting loss is the amount shown as utility charges receivable on the Statement
of Net Assets.
At June 30, 2003, utility receivables totaled $1,328,337. On the financial statements, the utility receivables
are shown net of the allowance for doubtful accounts of $90,708. This results in net utility receivable of
$1,237,629. During the year ended June 30,2003, the allowance was increased by 555,425 orapproximately
.56% of tire current year's utility charges and accounts totaling 5969,012 were written off. The written off
amounts had accumulated since 1985.
NOTE P - COMMITMENTS AND CONTINGENCIES
1. Litigation
Various claims and lawsuits are pending against the City. In the opinion of City management, the potential
y loss on all claims and lawsuits will not be significant to the City's financial statements.
2. Grant Audit
The City receives Federal and State Grants for specific purposes that are subject to review and audit by
various Federal and State agencies. Such audits could result in a request for reimbursement by any of the
.- Federal and State agencies for expenditures disallowed under the Icons and conditions of the appropriate
agency. In the opinion of City management, such disallowances, if any, will not be significant.
3. Construction Commitments
As of lune 30, 2003, the City had construction commitments outstanding of $3,149,950. The construction
commitments represent incomplete portions of contracts entered into to construct the following: two
stormwater projects, various street projects, a riverfont trail, water plant 41 expansion, Ranchito — Arena
relief sewer, improvements at the sewer plant, and improvements at the transfer station. These contracts arc
expected to be completed within the next fiscal year.
4. Encumbrances
As of June 30, 2003, the City had encumbrances outstanding of S4 273,858.
66
5. Environmental Remediation
City management is aware of one instance of envirotmtental contamination of City owned property. City
management is actively resolving these concerns. A Plan Of Action has been approved by the Missouri
Department of Natural Resources ("DNR") for the contamined site. in the opinion of City management, the
expenses associated with environmental remediation of these and other potential sites will not be simiificant
to the City's financial statements.
67
68
1
City
Y
of Cape Girardeau
General
Statement of
Revenues, Expenditures,
and Changes in Fund Balances -
Budget and Actual
For the
Year Ended June 30, 2003
Variance with
Budgeted
Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 12.042,745
$ 12.042.745
$ 12,069,948
$ 27,203
Licenses 8 permits
1,086,200
1,086,200
1,080,469
(5,731)
Intergovernmental
490,318
490,318
554589
60,271
Charges for services
364,393
364.393
352,161
(12.232)
Internal charges
694,750
694,750
711,015
16,265
Fines and forfeits
888,000
888,000
768,343
(119,657)
Miscellaneous
86,300
86,300
135,934
49.634
Investment revenue
214.674
214,674
173,945
(40,729)
Special assessments
-
7,094
7,094
Total revenues
15,867,380
15,867,380
15,849,498
(17,882)
EXPENDITURES
Current
Administrative
1,691,539
1.759,539
1,734,321
25,218
Contingency
19.000
19,000
34,596
(15,596)
Development Services
1,694,092
1,669,092
1,543,481
125,611
Parks and Recreation
1,284,609
1,303,359
1313,470
(10,111)
Public Safety
8,408,594
8.727,244
8,534337
196.907
Public Works
2,057,747
2,047,847
2,033,578
14,269
15,155,581
15,526,081
15,189,783
336,298
Total expenditures
15,155,581
15,526,081
15,189783
336,298
Excess (deficiency) of revenues
over (under) expenditures
711,799
341,299
659,715
318,416
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
1,122.500
1,342,500
1,342,500
-
Advance repayments
33,556
33,556
33,556
-
IMusfersout
(1,830,946)
(1,892,446)
(1,866,924)
25,522
Total other financing sources and uses and special items
(674,890)
(516,390)
(490,868)
25,522
Net change, in fund balances
36,909
(175,091)
168,847
343,938
Fund balances --beginning
3.989,465
3,989.465
3,989.465
-
Fundbalances-ending
$ 4,026,374
$ 3,814,374
$ 4.158,312
$ 343.938
68
&Y on Capwnerded F 1 Y f III t
Airport
Statement of Revenues. Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental
$ 125,000
S 125,000
5 195,147
S ]0,14]
Charges for services
]19,]99
]19,]99
]45,9]8
26,179
Miscellaneous
171,908
171,906
169,061
(2,847)
Inveslmenl revenue
2,250
2,250
7,368
5,118
Trot revenues
1,018,957
1,018,957
1,11],554
98,597
EXPENDITURES
Current
Administrative
1,326,351
1,459,268
1,3]5,90]
83,361
1,326,351
1,459.268
1,3]5,90]
83,361
Debt service'.
Interest
11,030
11,030
21,431
(10,401)
Principal
39,630
39,630
39,009
621
50,660
50,660
60,440
(9,780)
Total expenditures
1,3]],011
1,509,928
1 436.347
73,581
Excess (deficiency) of revenues
over (under) expenditures
(358,054)
(490.971)
(318,793)
1]2.1]0
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
359.214
359.214
324,720
(34,494)
Total other financing sources and uses and special items
359,214
359,214
324,720
(34,494)
Net change In food balances
1,160
(131,]5])
5,927
137,684
Fund balances -beginning
2,214.]2]
2,214,]2]
2.214,]2]
-
Fundbalances-- ending
$ 2,215.887
$ 2,082,970
S 2,220,654
S 137,684
69
1 $ , 0 L CRy or Cape Luardem It It
Park and Recreation
Statement of Revenues. Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Inlergovernmental
5
-
$
-
S 14
$ 14
Charges for services
485,200
485,200
478.836
(6,364)
Miscellaneous
6,000
6.000
2.637
(3,363)
Investment revenue
2,700
2,700
3.400
700
Total revenues
493,900
493,900
484,887
(9,013)
EXPENDITURES
Current.
Parks and Recreation
1232,84]
1,232,84]
1,19],384
35.463
1232,847
1,232,847
1,197,384
35.463
Total expenditures
1,232,84]
1,232,847
1,19],384
35,463
Excess(deficiency) of revenues
over (under) expenditures
(]38,94])
(]38.94])
(712,49])
26,450
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
]38,94]
]38,94]
]09,2]2
(29,675)
Total other financing sources and uses and special items
]38,94]
]38,94]
709,272
(29,675)
Net change In fund balances
-
-
(3,225)
(3.225)
Fund balances — beginning
14,006
14,006
14,006
-
Fundbelances—ending
$ 14,006
$ 14,006
$ 10,781
70
1 1 Y A
1 1 1 1 +,uy of CaIL—andel Y
Y 1 1 {
i 1 Y
Current.
Trans Sales Tax Trust Fund
Public Works
-
Debt service:
Statement of Revenues, Expenditures, and Changes in Fund Balances
- Budget and Actual
(10)
Iasu9ace cost
For the Year Ended June 30, 2003
Capital outlay
628,700
Total expenditures
628.700
Excess (deficiency) of revenues
Variance with
over (under) expeodltures
Budgeted Amounts
918,655
Final Budget -
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
NO 902
Bond proceeds
Positive
Total other financing sources and uses and special Items
Original Final
Actual Amounts
(Negative)
REVENUES
(65,151)
Fund balances -ending ($
53,851)
Inter9overnmenldl
$ - $ -
$ 41,211
$ 41,211
Investment revenue
15,000 15,000
54,463
39,463
Special assessments
25000 25000
256581
231581
Total revenues
40,000
EXPENDITURES
40.000
Current.
312,255
Public Works
-
Debt service:
Interest
(10)
Iasu9ace cost
21,649
Capital outlay
628,700
Total expenditures
628.700
Excess (deficiency) of revenues
42,237
over (under) expeodltures
884,500
918,655
(588]00)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
NO 902
Bond proceeds
600,000
Total other financing sources and uses and special Items
600,000
Net change In fund balances
11,366
Fund balances - beginning
(65,151)
Fund balances -ending ($
53,851)
71
40.000
352.255
312,255
10
(10)
10
(10)
-
21,649
(21,649)
-
20,588
(20,588)
-
42,237
(42,237)
884,500
918,655
(34,155)
884,500
NO 902
(76,402)
(844,500)
(608,647)
235,853
600.000
1,253,178
653.178
600,000
1,253,178
653,178
(244,500)
644,531
889,031
(65,151)
(65,151)
-
($ 309,651)
S 579.380
$ 889,031
71
1 1 1 i 1
f i
i
airy of Cape brand cip
Debt Service
Statement of
Revenues, Expenditures, and Changes in Fund Balances
- Budget and Actual
For
the Year Ended June 30, 2003
Variance with
Budgeted
Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 425,269
$ 425,269
$ 426,973
$ 1,704
Intergovernmental
9,751
9,751
10,211
460
Miscellaneous
-
-
27,150
27,150
Investment revenue
83,638
83.638
80,922
(2,716)
Special assessments
42.000
42,000
179,572
137,572
Total revenues
560,658
560,658
724,828
164,170
EXPENDITURES
Debt service:
Administrative charges
10,886
12,886
24,975
(12,089)
Call premium
-
-
4,575
(4,575)
Interest
287,455
455,955
431,877
24,078
Issuance cost
-
5,500
5,524
(24)
Principal
1,375,000
3,680,000
3,697,300
(17,300)
1,673,341
4,154,341
4,164,251
(9,910)
Total expenditures
1,673,341
4,154,341
4,164,251
(9.910)
Excess (deficiency) of revenues
over (under) expenditures
(1,112,683)
(3.593.683)
(3,439,423)
154,260
OTHER FINANCING SOURCES (USES) AND
SPECIAL ITEMS
Transfers in
928,232
1,423,232
1,427,168
3,936
Bond proceeds
-
-
339,874
339,874
Total other financing sources and uses and
special items
928,232
1,423,232
1,767,042
343,810
Net change In fund balances
(184,451)
(2,170,451)
(1,672,381)
498,070
Fund balances --beginning
2,772,622
2772,622
2,772,622
-
Fundbalances-ending
$ 2,588,171
$ 602,171
$ 1,100241
$ 498,070
72
NONNIAJOR FUND FINANCIAL, STATEMENTS
m
w
$city of Cape Gvartlea. 1
Flood Protection
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Investment revenue g - $ $ 19 $ 19
Total revenues - - 19 19
EXPENDITURES
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures 19 19
Net change in fund balances - - 19 19
Fund balances — beginning 501 501 501
Fund balances --ending $ 501 $ 501 $ 520 $ 19
73
1 i 1 1 I It 1
1
of Ct,...rard&,.
Vision 2000
Statement of
Revenues,
Expenditures, and Changes in Fund Balances- Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final Actual Amounts
(Negative)
REVENUES
Miscellaneous
$
- $ - $
700
$
700
Investment revenue
- -
72
72
Total revenues
- -
772
772
EXPENDITURES
Current:
Development Services
1,500 1.500
1,992
(492)
1,500 1,500
1,992
(492)
Total expenditures
1,500 1.500
1,992
(492)
Excess (deficiency) of revenues
over (under) expenditures
(1,500) (1,500)
(1,220)
280
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
1,500 11500
1,500
-
Total other financing sources and uses and special items
1,500 11500
1,500
-
Netchangeinfund balances
- -
280
280
Fund balances --beginning
2.518 2,518
2.518
-
Funtlbalances --ending
$
2,518 $ 2,518 $
2,798
$
280
74
s p I it
&y or Cap)muardeah
C
Convention and Tourism
Statement of Revenues. E.penditures,
and Changes in Fund Balances -
Budget and Actual
For
the Year Ended June 30, 2003
Variance with
Budgeted
Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 1,222,000
$ 1,222,000
$ 1,234,390
$ 12,390
Charges for services
7,000
7,000
3,414
(3,586)
Mlscellaneous
4,680
4,680
4,940
260
Investment revenue
40,500
40,500
49,251
8,751
Total revenues
1,274,180
1,274,180
1,291,995
17,815
EXPENDITURES
Current,
Administrative
461,838
503,838
399,827
104,011
461,838
503,838
399,827
104,011
Total expenditures
461,838
503.838
399.827
104,011
Excess (deficiency) of revenues
over (under) expenditures
812,342
770.342
892,168
121.826
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
(600,000)
(1,095,000)
(1092559)
2,441
Total other financing sources and uses and special Items
(600.000)
(1,095,000)
(1,092,559)
2.441
Net change In fund balances
212,342
(324,658)
(200,391)
124,267
Fund balances -- beginning
1,639,554
1,639,554
1,639,554
-
Fundbalances—ending
$ 1,851,896
$ 1,314,896
$ 1439,163
$ 124.267
75
1 1 1 I Y
1 1 i
1
1 1
1 1
1 1
1
City of Cafe UuardIs.1
Downtown Business District
Statement of Revenues,
Expenditures, and Changes in Fund Balances
- Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amount.
Final Budget
-
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$
18,800 $ 18,800
$
19.879
$
1,079
Investment revenue
600 600
818
218
Total revenues
19,400 19.400
20,697
1,297
EXPENDITURES
Current:
Development Services
19,400 19,400
15,988
3,412
19,400 19.400
15.988
3,412
Total expenditures
19,400 19,400
15.988
3,412
Excess (deficiency) of revenues
over (under) expenditures
-
4.709
4.709
Net change in fund balances
- -
4,709
4.709
Fund balances-- beginning
24,315 24.315
24,315
-
Fundbalances— ending
$
24,315 $ 24,315
$
29,024
$
4,709
76
1 i 1 1 1 1 1
1 1
1 It 1
1 1
1 1
1 1 1
City of Cape Girardeau
Health
Statement of
Revenues, Expenditures, and Changes In Fund Balances
- Budget and Actual
For the
Year Ended June 30, 2003
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 244,164
$ 244,164
$
245,216
$ 1.052
Licenses & permits
8,500
8,500
2,753
(5,747)
Intergovernmental
5.700
5,700
6.127
427
Investment revenue
23,020
23,020
16,852
(6,168)
Total revenues
281,384
281,384
270,948
(10,436)
EXPENDITURES
Current:
Public Safety
280,152
280,152
229,044
51,108
280,152
280,152
229,044
51,108
Capital outlay
-
-
14
(14)
Total expenditures
280,152
280,152
229,058
51,094
Excess deficiency) of revenues
over (under) expenditures
1,232
1,232
41,890
40,658
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Asset disposition
-
-
1,000
1,000
Transfers out
-
(220,000)
(220,000)
-
Total other financing sources and uses and special items
-
(220.000)
(219,000)
1,000
Net change In fund balances
1,232
(218,768)
(177,110)
41,658
Fund balances - beginning
411,547
411,547
411,547
-
Fund balances - ending
$ 412,779
$ 192,779
$
234,437
$ 41,658
77
it it 1 1 Y i 1
1 [-,y of Calx ou ardeL 1
i i i 1
1 Y Y
Motor Fuel Tax
Statement of Revenues, Expenditures, and Changes in Fund Balances
- Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts
Final Budget -
Posilive
Original Final
Actual Amounts
(Negative)
REVENUES
Intergovemmental
$ 1,425,000 $ 1425.000
$ 1414,117
$ (10,883)
Investment revenue
45,000 45,000
38,140
(6,860)
Total revenues
1,470,000 1,470,000
1,452,257
(17,743)
EXPENDITURES
Current:
Public Works
- 7,200
12M)
-
- 7.200
7,200
-
Capltalouilay
- 3,000
3.621
(621)
Total expenditures
- 10,200
10,821
(621)
Excess(defmlency) of revenues
over (under) expenditures
1,470,000 1459,800
1,441,436
(18,364)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Other loan proceeds
- -
83.830
83,830
Transfers out
(1,554,432) (1,554,432)
(1,554,432)
-
Totalotherfinancingsourcesandusesandspecialitems
(1,554,432) (1,554432)
(1,470,602)
83.830
Net change'm fund balances
(84,432) (94,632)
(29,166)
65.466
Fund balances -- beginning
1,007,632 1,007,632
1,007,632
-
Fundbalances — ending
$ 923,200 $ 913,000
$ 978,466
$ 65,466
78
it it If it a 11 k III of CaIt pe Uvarde It I If It it I 1 11 It
Cap Imp Sales TaxFloodConirl
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental
$ 100,000
$ 100.000
$ 146,762
$ 46,762
Investment revenue
22,500
22500
25,405
2,905
Told l revenues
122,500
122,500
172,167
49,667
EXPENDITURES
Current:
Public Works
-
-
31,532
(31,532)
-
-
3-532
(31,532)
Capital outlay
340,000
555,000
581,257
(26,257)
Total expenditures
340,000
555,000
612,789
(57,789)
Excess (deficlency)of revenues
over (under) expenditures
(217,500)
(432,500)
(440.622)
(8.122)
Net change in fund balances
(217,500)
(432,500)
(440,622)
(8,122)
Fund balances — beginning
806.698
806,698
806 698
-
F'undbalances—ending
$ 589.198
$ 374,198
$ 366,076
($ 8,122)
79
a i lk 11, It b If k try of Cage mnardeL _
Cap Impr Sales Tax-Wlr Sys Imp
Statement of Revenues, Expenditures, and Changes in Fund Balances- Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Taxes $ 1,953,750 $ 1,953,750 5 1,924,553 $ (29,197)
Investment revenue 12 775 12 775 73 660
b()
60.885
Total revenues
1,966,525
1,966,525
1,998,213
31,688
EXPENDITURES
Debt service
Interest
744,010
777.010
846,713
(69,703)
Issuance at
125,269
125,269
69,411
55,858
Principal
730,000
730,000
730,000
-
1,599,279
1632,279
1,64-124
(13,845)
Total expenditures
1,599,279
1,632,279
1,646,124
(13,845)
Excess(deficiency) of revenues
over (under) expenditures
367,246
334,246
352,089
17,843
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
-
-
79,166
79,166
1 ransfers out
(367,246)
(487,246)
(120,000)
367,246
Total other financing sources and uses and special Items
(367,246)
(487,246)
(40,834)
446,412
Net change In fund balances
-
(153,000)
311,255
464,255
Fund balances — beginning
1,892,167
1,892,167
1,892,167
-
Fundbalances—ending $
1,892,157
$ 1,739,167
$ 2,203,422
$ 464.255
b()
it it It
, III ,
It
It it
ultyot L}ape Girardeau
Cap Impr Sales Tax -Saw Sys Imp
Statement of Revenues, Expenditures, and Changes In Fund Balances
- Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 1,953,750 $ 1,953,750
$
1,924,980
$ (26,]]0)
Investment revenue
24,025 24,025
30,479
6,454
Total revenues
1,9]],]]5 1,9]],]]5
1,955.459
(22,316)
EXPENDITURES
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
1,9]],]]5
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers of (1,988,323)
Total other financing sources and uses and special items (1,988,323)
Net change In fund balances (10,548)
Fund balances -- beginning 854,909
Fund balances — ending $ 844,361
1,9]],]]5
(1,988,323)
(1,988,323)
$ 844,361
81
1,955,459 (22.316)
(2,088.062) (99,739)
(2,088,062) (99,739)
(132,603) (122,055)
854,909 -
$ 722,306 is 122,055)
i Y 1 1 1 1 1
1 I
sur of C)pe
,irardlau
Trans Sales Tax
Trust Fund II
Statement of Revenues. Expenditures, and Changes in Fund
Balances-
Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts
Final Budget
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Taxes
$ 3,745,000
$ 3,745,000
$
3,]38,56]
$ (6,433)
Investment revenue
120,000
120.000
106,135
(13,865)
Spedal assessments
-
-
11,014
11,014
Total revenues
3.865,000
3,865,000
3.855,716
(9,284)
EXPENDITURES
Capital outlay
1,497,200
1.637,200
1.433,839
203,361
Total expenditures
1,497,200
1,637,200
1,433,839
203.361
Excess(defidency) of revenues
over (under) expenditures
2,367.600
2,227,800
2421.8]]
194,0]]
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
200,000
200,000
200,000
-
Total other financing sources and uses and special items
200,000
200,000
204000
-
Net change in fund balances
2.567,800
2,427,800
2,621,8]]
194,0]]
Fund balancesbeginning1,032,017
1,032,017
1,032,017
-
Fund balances --ending
$ 3,599,817
$ 3,459,817
$
3,653,894
$ 194,0]]
82
it I I I If If it ' lily of Cape ulrardiau I it + it
General Capital Improvements
Statement of Revenues. Expenditure. and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES
Intergovernmental $ 531,630 $ 531,630 $ 116,283 $ (415,347)
1 t t
noes men revenue
-
-
9,225
9,225
Total revenues
531.630
531,630
125,508
(406,122)
EXPENDITURES
Current,
Administrative
-
1,454
(1,454)
-
-
1,454
(1,454)
Capital outlay
718.640
808,640
139,914
668,726
Total expenditures
718,640
808,640
141,368
667,272
Excess(defldency) of revenues
over (under) expenditures
(187,010)
(277,010)
(15,860)
261,150
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
15,860
15,860
15,860
-
Total other financing sources and uses and special items
15,860
15.860
15,860
-
Netchangeinfund balances
(171,150)
(261,150)
(0)
261,150
Fund balancesbeginning280,098
280,098
280,098
-
Fundbalances--ending $
108.948
$ 18,948
$ 280,098
$ 261,150
83
1 1 i 1 1 1 1
1 1 1
1 1 i i
1 f 1
..,,f of CA.,o dirarA...
Street Improvements
Statement of
Revenues. Expenditures. and Changes in Fund Balances
- Budget and Actual
For the Year Ended June 30. 2003
Variance with
Budgeted Amounts
Final Budget -
Posltive
Original Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$ 643,350 $ 643.350
$ 3,462
$ (639,888)
Miscellaneous
- -
63,550
83.550
Investment revenue
- -
26,161
26,161
Special assessments
- -
17,502
17,502
Total revenues
643,350 643,350
130,675
(512,675)
EXPENDITURES
Debtservice:
Issuance cost
- -
5,356
(5,356)
- -
5,356
(5,356)
Capital outlay
1,279,700 1,607,100
674.508
932.592
Total expenditures
1,279,700 1,607,100
679,864
927,236
Excess(de0cancy) of revenues
over (under) expenditures
(636,350) (963,750)
(549,189)
414,561
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers in
325.000 325,000
325,000
-
Bond proceeds
- -
326,030
326,030
Transfers out
- -
(6,376)
(6,376)
Total other financing sources and uses and special items
325,000 325.000
644,654
319,654
Net change in fund balances
(311,350) (638,750)
95,465
734,215
Fund balances — beginning
770,375 770,375
770,375
-
Fundbalances -- ending
$ 459.025 $ 131,625
S 865,840
$ 734,215
84
It It
1 It It If Lay of Ca$e ovardsl k
it k k it
k I F
321,]2]
Park Improvements
EXPENDITURES
Statement of Revenues, Expenditures, and Changes in Fund Balances
- Budget and Actual
Total expenditures
For the Year Ended June 30, 2003
Excess (deficiency) of revenues
over (under) expenditures
Variance with
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Budgeted Amounts
Final Budget -
80,452
Total other financing sources and uses and special items
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
111,483
Fund balencas—ending $
Intergovernmental
$ 321,]2] S 321,]2]
$ 3,064
$ (318,663)
I t I
noes men revenue
-
Total revenues
321,]2]
EXPENDITURES
Capital outlay
402,159
Total expenditures
402,159
Excess (deficiency) of revenues
over (under) expenditures
(80,432)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
80,452
Total other financing sources and uses and special items
80,452
Net change in fund balances
20
Fund balances — beginning
111,483
Fund balencas—ending $
111,503
3,]19 3.719
321,727 6,783 (314,944)
423,659 457,453 (33.794)
423,659 457,453 (33,794)
80,452 80,432 (20)
80,452 80,432 (20)
(21480) (370,238) (348,758)
111 483 111,483 -
$ 90,003 IS 258,755) ($ 348,]58)
85
1 i 1 1 i 1 1
i
I
of Ci,_ 1
1 1
1
Y
1 Y 1
_,-i
_irardt__
Community
Dev Block Grant Pi
Statement of
Revenue.,
Expenditures, and Changes in Fund Balances -
Budget and Actual
For the
Year Ended June 30. 2003
Variance with
Budgeted
Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Intergovernmental
$
496.500
$ 496,500
$
276,773
$ (219,727)
Investment revenue
-
-
3,296
3,296
Total revenues
496,500
496.500
280.069
(216,431)
EXPENDITURES
Current:
Development Services
521.500
521.500
85,502
435.998
521,500
521,500
85,502
435,998
Debt service:
Interest
-
_
430
(430)
-
-
430
(430)
Capital outlay
-
-
8,070
(8,070)
Total expenditures
521,500
521.500
94.002
427,498
Excess( deficiency) of revenues
over (under) expenditures
(25,000)
(25.000)
186,067
211.067
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfersm
25.000
25,000
34,999
9,999
Total other financing sources and uses and special items
25.000
25,000
34,999
9,999
Net change in fund balances
-
-
221,066
221.066
Fund balances — beginning
(142,615)
(142.615)
(142.615)
-
Fundbalances— ending
($
142,615)
($ 142.615)
$
78,451
$ 221,066
86
nvem
tiey of Cape uvardeau ,
1 1 11 ,
1 $ 1
16,8]5
FAU Grant Prefaces
EXPENDITURES
Statement of Revenues,
Expenditures, and Changes in Fund Balances -
Budget and Actual
-
Total expenditures
For the Year Ended June 30, 2003
-
Excess (defic9ency)ofrevenues
over (under) expenditures
Variance with
Budgeted Amounts
16,875
Final Budget -
Net change in fund balances
16
875
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
t t $
16875 c '�"'�
�^^
s en revenue
Total revenues
16,8]5
EXPENDITURES
Capital outlay
-
Total expenditures
-
Excess (defic9ency)ofrevenues
over (under) expenditures
16,875
Net change in fund balances
16
875
Fund balances -- beginning
388,482
Fund balances —ending
$ 405,357
16,875
$ 405,357
87
$ 13,090
13,090
11 "1
(123)
388.482
$ 388,359
(3,785)
(13.213)
(13.213)
(16,998)
($ 16,998)
t it b it A 1 11
h I 1
It 1 It k
1 It
ony of CTpe e.irardlau
Corp Flood Control Projects
Statement of
Revenues, Expenditures, and Changes in Fund Balances -Budget
and Actual
For the Year Ended June 30. 2003
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Investment revenue
$ 13,500 $ 13,500
$ 21,319
$ 7,819
Total revenues
13,500 13,500
21,319
7,819
EXPENDITURES
Current.
Public Works
- _
48,291
(48,291)
- -
48,291
(48,291)
Capital ou0ay
- 420,000
374,910
45,090
Total expenditures
- 420,000
423,201
(3,201)
Excess (deficiency) of revenues
over (under) expenditures
13,500 (406,500
(401,882)
4,618
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers out
- (212,000)
(212,000)
-
Total other financing sources and uses and special items
- (212.000)
(212,000)
-
Netccangeinfund balances
13.500 (618,500)
(613,882)
4,618
Fund balanced — beginning
928,327 928,327
928.327
-
Fundbalances— ending
S 941,827 $ 309,827
$ 314,445
$ 4,618
88
it b b , , , City okape Girardeau
Sewer
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
REVENUES
Residential charges
Commerical charges
Other fees and charges
Miscellaneous
Total revenues
EXPENDITURES
Contractual services
General ope2Ung expenses
Internal service expense
Material and supplies
Personnel services
Special projects expense
Capin outlays
Debt service:
Administrative cbarges
Call premmm
Interest
Issuance cast
Principal
Budaetetl Amounts
Original
5,9]925]
Final
2.300,062
over (under) expenditures
Final Budget -
$1486,000
(3,395,]5])
51489000
Actual Amounts
1,007,500
(Negative)
1 00]
500
47,000
47,800
47,000
150,000
40,000
44,000
40,000
3,621,379
41,925
78,583
249,075
923,150
38,600
1,899.550
520,906
1 934,948
2,596,644
Total expenditures
5,9]925]
Excess (deficiency) of revenues
2.300,062
over (under) expenditures
Final Budget -
429805
(3,395,]5])
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Actual Amounts
Intergovernmental
(Negative)
Transfersln
1,988,323
Investment revenue
47,800
Connection fees
150,000
Special assessments
44,000
Bond proceeds
3,621,379
Asset disposition
-
Total other financing sources and uses and special items
2,230,123
Net change In fund balances
(1,165,634)
Fund balances-be9inning
4,844,451
Fund halances-aorto,
$ 3,678,817 89
38,185
78,583
24],295
923,150
39065
2.]02.605
4,1]9,613
140,790
517,906
10,000
2,969,948
3.638,644
7,818,257
(5,23],75])
2,200,323
47,800
150,000
44,000
(2.795,634)
4,844 451
5 2,048,817
(4,]32 794) 504,963
6,85]
6,857
Variance with
2.300,062
99,739
Final Budget -
429805
382,005
Positive
Actual Amounts
(4,830)
(Negative)
120,698
76,698
$1,501,284
618,754
$15.284
969.813
33
(37,687)
49010
3,621,379
(990)
46,665
(1,111415)
6.665
2,563,]]2
4,844.451
(19728)
107,796
$ 3,733,036
45,934
42,470
(4.285)
66,361
12,222
227.860
19 435
885,173
37,977
42,562
(6,497)
2,015,952
686,653
3,388.174
791439
171,232
(30442)
850
(850)
314,697
203,209
10,046
(46)
3,411,567
(441,619)
3.908,392
(269,748)
7,296.566
521.691
(4,]32 794) 504,963
6,85]
6,857
2.300,062
99,739
429805
382,005
145,1]0
(4,830)
120,698
76,698
618,754
618,754
33
33
3,621,379
1,1]9,256
(1,111415)
1.684.219
4,844.451
-
$ 3,733,036
5 1,684,219
1 1 i 1 1 1 1 1 1 1 1 i i i 1 1 1 II l
City of Cape Girardeau
Water
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted
Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Residential charges
$2,796,000
$2,796,000
$2,771,097
($24,903)
Commerical charges
1,944.000
1,944,000
1,966,018
22,018
Other fees and charges
119,000
119.000
139,731
20,731
Miscellaneous
13,500
13,500
24,895
11,395
Total revenues
4,872,500
4.872.500
4,901,741
29,241
EXPENDITURES
Contractual services
2,914,285
2,968,051
2,900,045
68,006
General operating expenses
149,000
149,000
152,195
(3,195)
Internal service expense
50,822
50,822
48,050
2,772
Material and supplies
380,368
388,068
377,417
10,651
Personnel services
115,760
115,760
117,305
(1,546)
Special projects expense
45,000
45,000
43,712
1,288
Capital outlay
272,725
259.459
196,383
63,076
3,927,960
3,976,160
3,835,108
141,052
Debt service:
Administrative charges
1,900
1,900
6,724
(4,824)
Interest
566,739
567,339
566,296
1,043
Issuance cost
-
6,400
6,393
7
Principal
575.000
960,000
960,000
-
1,143,639
1,535,639
1,539,413
(3,774)
Total expenditures
5,071,599
5.511
799
5,374,521
137,278
Excess (deficiency) of revenues
over (under) expenditures
(198099)
(639,299)
(472,780)
166,519
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Intergovernmental
-
-
69,493
69,493
Transfers In
-
120.000
120,000
-
Investment revenue
127,750
127,750
182,189
54,439
Special assessments
13,200
13,200
42,839
29,639
Bond proceeds
-
-
393,753
393,753
Asset disposition
91,800
91,800
73,535
(18,265)
Total other financing sources and uses and special items
232,750
3fi2
760
881,809
529,059
Net change in fund balances
33,651
(286,549)
409.029
695.578
Fund balances -- beginning
3,389,501
3,389,501
3,389,501
-
90
Fundbalances-ending
$ 3,423,152
$ 3.102.952
$ 3798.530
$ 695.578
1 It 1 i 1 1 1
1 1 1 1
1
1 1 1
i
1 1
1
City of Cape Girardeau
Solid waste
Statement of Revenues, Expenditures, and Changes in Fund
Balances -
Budget and Actual
For the Year Ended June 30,
2003
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Residential charges
$1,685,500
$1,685,500
$1.694,054
$8,554
Commerical charges
27,000
2],000
27,632
632
Transfer station charges
489.000
489,000
523.025
34,025
Other teas and charges
66.000
66,000
74,875
8,875
Miscellaneous
14,000
14,000
28.482
14,482
Total revenues
2,281,500
2 281,500
2,348,068
66,568
EXPENDITURES
Contractual services
745,658
752,258
762,648
(10,390)
General operating expenses
32,978
32,978
57,745
(24,767)
Internal service expense
141,180
141,180
159,599
(18,419)
Material and supplies
86,585
87,864
70,912
16,952
Personnel services
1,033,538
1,033,538
989,444
44,094
Special projects expense
89,875
89,875
88,543
1,332
Capital pulley
153,000
145,121
126,855
18.265
2,282,814
2,282,814
2,255,746
27,068
Debt service:
Interest
49,468
49,168
44,505
4,663
Issuance cost
-
4,400
4,400
(0)
Principal
-
265,000
265,003
(3)
49,468
318,568
313,908
4,660
Total expenditures
2,332,282
2,601,382
2.569.654
31,728
Excess (deficiency) of revenues
over (under) expenditures
(50,782)
(319,882)
(221,586)
98,296
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Intergovernmental
-
-
13,848
13,848
Investment revenue
36,000
36,000
36,715
715
Bond proceeds
-
-
271,030
271,030
Asset disposition
-
-
14,465
14,455
Total other financing sources and uses and special items
36,000
36,000
336,058
300.058
Net change In fund balances
(14,782)
(283,882)
114,472
398,354
Fund balances - beginning
723,441
723,441
723,441
-
Fundbalances-ending
$ 708,659 5
439,559
$ 837,913
$ 398,354
91
1 Y W 1 f 1
i f �
i
1 i
1
1
L 1 1 i
City of ape Girar eau
Golf Course
Statement of Revenues,
Expenditures, and Changes in Fund Balances -
Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
User fees
$448,550
$448,550
$383,075
($65,475)
Concession revenues
79,000
79,000
63.531
(15,469)
Equipment sales
8,000
8,000
6,364
(1,636)
Miscellaneous
-
-
484
484
Total revenues
535,550
535,550
453,454
(82,D96)
EXPENDITURES
Contractual services
21,095
21,095
29,467
(8,372)
General operating expenses
48,475
48475
43,495
4,979
nternal service expense
56,962
56,962
49,305
],65]
Material and supplies
65,826
64,226
66,414
(2,188)
Personnel services
269,267
269,267
265,879
3,388
Special projects expense
6,700
6,700
6,976
(276)
Capital outlay
10,000
11,600
11.363
237
478,325
478,325
472,901
5,424
Debt service:
Interest
19,278
19278
19.845
(567)
Principal
17,989
17,989
17,989
0
3]26]
3].26]
37,834
(567)
Total expenditures
515,592
515,592
510,735
4,857
Excess (deficiency) of revenues
over (under) expenditures
19,956
19.958
(57,281)
(]],239)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfers In
-
41,000
76,670
35,670
Investment revenue
1,575
1,575
811
(764)
Asset disposition
-
-
1,725
1,725
Transfers out
(20,700)
(20,700)
-
20,700
Total other financing sources and uses and special items
(19,125)
21,875
79,206
57,331
Net change In fund balances
833
41,833
21,925
(19,908)
Fund balancesbeginning(16,255)
(16,255)
(16.255)
-
Fundbalances- ending
($ 15,422) $
25,578
$
5,670
($ 19,908)
92
k 1 $ Y
$ k
city oAl Girleau
Softball Complex
Statement of Revenues, Expenditures, and Changes in Fund
Balances
- Budget and Actual
For the year Ended June 30, 2003
Variance with
Budgeted Amounts
Final Budget -
Positive
Original Final
Actual Amounts
(Negative)
REVENUES
Userlees
$66,000
$66.000
$60,959
($5,041)
Concession revenues
64,000
64,000
]0.]36
6,736
Equipment sales
11,000
11,000
11,868
868
Miscellaneous
-
-
(840)
(640)
Total revenues
141,000
141,000
142,923
1,923
EXPENDITURES
Current:
Contractual services
15.905
16,035
14,486
1,549
General operating expenses
49,153
40,153
53.667
(4,514)
Internal service expense
27,138
2],138
23,094
4,044
Material and supplies
51,516
51,386
57128
(5,842)
Personnel services
232,438
232,438
224,507
7,931
Special projects expense
10,000
10,000
8,818
1,182
386,150
386,150
381,800
4,350
Debt service:
Interest
8,550
8,550
7,696
854
8,550
8,550
7,696
854
Total expendl(ures
394,700
394,700
389,496
5,204
Excess(deficiency) cfrevenues
over (under) expenditures
(253,700)
(253,700)
(246.573)
],12]
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Intergovernmental
-
-
101
101
Transfers In
252,125
252,125
224.403
(2],]22)
Investment revenue
1,575
1,575
1,527
(48)
Total other financing sources and uses and special items
253,700
253,700
226,031
(27,669)
Net change in fund balances
-
-
(20,542)
(20,542)
Fund balances -beginning
21,786
21,786
21,786
-
Fundbalances- ending
S 21.786 $
21]86
$ 1,244
($ 20,542)
93
1 1 1 1 1 i 1 { (-„r uf CaP'b-ardl
Management Information Systems
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Variance with
Budgeted Amounts Final Budget -
Positive
Original Final Actual Amounts (Negative)
REVENUES
Internal char es $ 322 550 x x ^^^ __^ a•
g
66,842
Total revenues
322,550
EXPENDITURES
(3,240)
Contractual services
65,890
General operating expenses
7,145
Material and supplies
14,400
Personnel services
94,468
Capital outlay
64,400
2,996
246,303
Debt service'.
5,084
Administrative charges
250
Interest
6,860
Principal
70,000
(8,710)
77,110
Total expenditures
323,413
Excess (deficiency) of revenues
$ 89,593
over (under) expenditures
(863)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Investment revenue
1,125
Asset disposition
-
Total other financing sources and uses and special Items
1,125
Net change In fund balances
262
Fund balances - beginning
98,041
Fund balances -ending $
98,303
65,890
66,842
(952)
7,145
10,385
(3,240)
14,400
20,221
(5,821)
94,468
94,627
(159)
64 460
69.387
(4 9 17)
6,860
6,860
-
70,000
70,000
-
77,110
77,616
(506)
323,413
339,078
(15,665)
(863)
(16.528)
(15,665)
1.125
2,996
1,871
-
5,084
5.084
1,125
8,080
6,955
262
(8,448)
(8,710)
98,041
98,041
-
$ 98.303
$ 89,593
is 8,710)
94
1 1 1 1 1 1 Y 1 / 1 i 1 1 i i i 1 It i
City of Cape Girardeau
Fleet Management
Statement or Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30. 2003
95
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Internal charges
$1,018,000
$1,018,000
$962.730
($55,270)
Miscellaneous
-
-
1,197
1,197
Total revenues
1,018.000
1,018,060
963,927
(54,073)
EXPENDITURES
Contractual services
149,035
149,635
113,177
36,458
General operating expenses
3,150
3,150
6,402
(3,252)
Internal service expense
2,297
2297
2,297
-
Material and supplies
296,788
298,555
284,392
14,163
Personnel services
527,390
527,390
515,578
11.812
Capital outlay
14,300
11,933
9,656
2,277
992,960
992,960
931,502
61,458
Debt service:
Interest
11
11
12
(1)
Principal
459
459
459
0
470
470
471
(1)
Total expenditures
993,430
993,430
931,973
61,457
Excess (deficiency) of revenues
over (Linder) expenditures
24,570
24,570
31,954
7,385
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Compensation for damages
-
-
4,300
4,300
Investment revenue
2,700
2,700
7.109
4,409
Transfers out
(28,232)
(28,232)
(28.233)
(1)
Total other financing sources and uses and special Items
(25,532)
(25,532)
(16,824)
8,708
Net change in fund balances
(962)
(962)
15,130
16,092
Fund balancesbeginning162,105
162,105
162,105
-
Fundbalances-ending
$ 161,143
$ 161,143
$ 177,235
$ 16,092
95
1 1 1 1 1 1 1 1 1 i 1 1 1 f 1 1 1 1 1
City of Cape Girardeau
Fringe Benefits
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 3003
96
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Internal charges
$1.738,182
$1,938,182
$2,036,020
$297.838
Miscellaneous
-
-
240
240
Total revenues
1.738.182
1]38,182
2,036,260
298,078
EXPENDITURES
Current
Contractual services
1.575.900
1,575,900
2,009,757
(433,857)
General operating expenses
-
-
1,870
(1,870)
1,575,900
1,575,900
2.011 627
(435,727)
Total expenditures
1,575,900
1,575,900
2,011,627
(435,727)
Excess(deficlency) of revenues
over (under) expenditures
162,282
162.282
24,633
(137,649)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Investment revenue
11,250
11,250
16,304
5,054
Transfers out
(173,500)
(173,500)
(173,500)
Total other other financing sources and uses and special items
(162,250)
(162,250)
(157,196)
5.054
Net change In fund balances
32
32
(132,563)
(132595)
Fund balancesbeginning198,832
198,832
198,832
-
Fundbalances--ending
$ 198,864
$ 198,864
$ 66.269
($ 132,595)
96
III 1 1 1 It 1 1 1 1 It 1 1 1 1 1 It 1 1 1
City of Cape Girardeau
Risk Management
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
Budgeted Amounts
Original Final Actual Amounts
REVENUES
Internal charges
$228,465
Total revenues
228,465
EXPENDITURES
Current'.
Contractual services
361,000
General operating expenses
20,000
Material and supplies
5.000
386,000
Total expenditures
386,000
Excess (deficiency) of revenues
over (under) expenditures
(151,535)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Investment revenue
61,500
Total other financing sources and uses and special items
61,500
Net change in fund balances
(90,035)
Fund balances -- beginning
1,314,507
Fund balancesending$
1,224,472
97
c". aaz
361,000
20,000
5.000
386,000
386.000
67,500
61,500
$ 1,224,472
2]1,601
22,735
294 319
53,3]2
53,312
$ 1,298,376
Variance with
Final Budget
Positive
(Negative)
($3,632)
(3,632)
89,399
(2,]35)
5,000
91 a"
88,032
(14,125)
$
73,904
I 1 1 1 i 1 1 1 1 1 1 1 1 i 1 f i 1 1
City of Cape Girardeau
Equipment Replacement
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
For the Year Ended June 30, 2003
98
Variance with
Budgeted Amounts
Final Budget -
Positive
Original
Final
Actual Amounts
(Negative)
REVENUES
Internal charges
$363,665
$ 363,665
$298,947
($64,718)
Total revenues
363,665
363.665
298,947
(64,718)
EXPENDITURES
General operating expenses
_
_
2,049
(2,049)
Capital outlay
484,000
484,000
553,621
(69,621)
484,000
484,000
555,669
(71,669)
Debt service:
Administrative charges
550
550
]]]
(227)
Interest
21,632
21,632
7,445
14.187
Issuance of
15,000
15,000
-
15,000
Principal
55,000
55,000
25,000
30.000
92,182
92,182
33,222
58,960
Total expenditures
576,182
576,182
588,891
(12,709)
Excess be(Cleney) Of revenues
over (under) expenditures
(212,517)
(212.517)
(289.844)
(77,427)
OTHER FINANCING SOURCES (USES) AND SPECIAL ITEMS
Transfersln
159.000
159,000
179,500
20,500
Inveetmentmvenue
29.195
29,195
24,237
(4,958)
Bond proceeds
340,000
340,000
-
(340.000)
Other loan proceeds
-
-
400,000
400,000
Advance repayments
25,305
25,305
25,305
-
Assetdisposition
-
-
11,600
11,600
Total other financing sources and uses and special items
553,500
553,500
640.642
87,142
Net change in fund balances
340,983
340,983
350,698
9,715
Fund balances - beginning
325,681
325,681
325,681
-
Fundbalances- ending
$ 666,664
$ 666,664
$ 6]6,3]9
$ 9.715
98
ANNUAL FEDERAL FINANCIAL COMPLIANCE SEC"MON
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
Compliance
We have audited the compliance of City of Cape Girardeau, Missouri, with the types of
compliance requirements described in the US. Office of Management and Budget (OMB)
Circular A-133 Compliance Supplement that are applicable to its major federal program for the
year ended .lune 30, 2003. City of Cape Girardeau, Missouri's major federal program is
identified in the summary of auditors' results section of the accompanying Schedule of Findings
and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and
grants applicable to its major federal program is the responsibility of City of Cape Girardeau,
Missouri's management. Our responsibility is to express an opinion on City of Cape Girardeau,
Missouri's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United Stales of America; the standards applicable to financial audits contained in
Government Auditing S'tandaids, issued by the Comptroller General of the United States; and
OMB Circular A-133, Audits of States, Local Governments. and Non-Poofit Organizations.
Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirensnts
referred to above that could have a direct and material effect on a major federal program
occurred. An audit includes examining, on a test basis, eaidence about City of Cape Girardeau,
Missouri's compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances. We believe that our audit provides a reasonable basis
for our opinion. Our audit does not provide a legal determination on City of Cape Girardeau,
Missouri's compliance with those requirements.
99
16 So. Silver Springs Road
4018 Sycamore
Cairo, Illinois 62914
Cape Girardeau, Missouri 63703
105 So. Hope
Jackson, Missouri 63755
Telephone (618) 734-3300
Telephone (573) 334-7971
Telephone (573) 243-3991
Facsimile (618) 734-3303
Facsimile (573) 334.8875
Facsimile (573) 243-3186
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
Compliance
We have audited the compliance of City of Cape Girardeau, Missouri, with the types of
compliance requirements described in the US. Office of Management and Budget (OMB)
Circular A-133 Compliance Supplement that are applicable to its major federal program for the
year ended .lune 30, 2003. City of Cape Girardeau, Missouri's major federal program is
identified in the summary of auditors' results section of the accompanying Schedule of Findings
and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and
grants applicable to its major federal program is the responsibility of City of Cape Girardeau,
Missouri's management. Our responsibility is to express an opinion on City of Cape Girardeau,
Missouri's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United Stales of America; the standards applicable to financial audits contained in
Government Auditing S'tandaids, issued by the Comptroller General of the United States; and
OMB Circular A-133, Audits of States, Local Governments. and Non-Poofit Organizations.
Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirensnts
referred to above that could have a direct and material effect on a major federal program
occurred. An audit includes examining, on a test basis, eaidence about City of Cape Girardeau,
Missouri's compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances. We believe that our audit provides a reasonable basis
for our opinion. Our audit does not provide a legal determination on City of Cape Girardeau,
Missouri's compliance with those requirements.
99
In our opinion, City of Cape Girardeau, Missouri complied, in all material respects, with the
requirements referred to above that are applicable to its major federal program for the year
ended June 30, 2003.
Internal Control Over Compliance
The management of City of Cape Girardeau, Missouri is responsible for establishing and
maintaining effective internal control over compliance with requirements of laws,
regulations, contracts and grants applicable to federal programs. In planning and performing
our audit, we considered City of Cape Girardeau, Missouri's internal control over compliance
with requirements that could have a direct and material effect on a major federal program in
order to determine our auditing procedures for the purpose of expressing our opinion on
compliance and to test and report on the internal control over compliance in accordance with
OMB Circular A-133.
Our consideration of the internal control over compliance would not necessarily disclose all
matters in the internal control that might be material weaknesses. A material weakness is a
condition in which the design or operation of one or more of the internal control components
y does not reduce to a relatively low level the risk that noncompliance with applicable
requirements of laws-, regulations, contracts and grants that would be material in relation to a
major federal program being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions. We noted no matters
involving the internal control over compliance and its operation that we consider to be
material weaknesses.
This report is intended solely for the information and use of the Honorable Mayor, Members
of the City Council, federal awarding agencies, and pass-through entities and is not intended
to be and should not be used by anyone other than these specified parties.
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Cape Girardeau, Missouri J
November 7. 2003
100
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
Certified Public Accountants
16 So. Silver Springs Road
4018 Sycamore 105 So. pope
Cairo, Illinois 62914 Cape Girardeau, Missouri 63703
Jackson, Missouri 63755
Telephone (618) 734-33M Telephone (573) 334.7971 Telephone (573) 243-3991
Facsimile (618) 734-3303 Facsimile (573) 334-8875 Facsimile (573) 243-3186
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL
REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENT'S
PERFORMED IN ACCORDANCE WITH GOYERNMENTAUDITINC STANDARDS
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
We have audited the basic financial statements of the governmental activities, each major fund
and the aggregate remaining fund information of City of Cape Girardeau, Missouri as of and for
the year ended June 30, 2003, which collectively compromise the City's basic financial
statements and have issued our report thereon dated November 7, 2003. We conducted our audit
in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether City of Cape Girardeau, Missouri's
general purpose financial statements are free of material misstatement, we perfomred tests of its
compliance with certain provisions of laws, regulations, contracts and grants, noncompliance
with which would have a direct and material effect on the determination of financial statement
amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit and, accordingly, we do not express such an opinion. The results of our
tests disclosed no instances of noncompliance that are required to be reported under Goi-counent
Auditing Standards.
Intemal Control Over Financial Reporting
In planning and performing our audit, we considered City of Cape Girardeau, Missouri's internal
control over financial reporting 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 over financial reporting. Our consideration of the internal control over
financial reporting would not necessarily disclose all matters in the internal control over financial
reporting that might be material weaknesses. A material weakness is a condition in which the
101
design or operation of one or more of the internal control components docs not reduce to a
relatively low level the risk that misstatements in amounts that would be material in relation to
the financial statements being audited may occur and not be detected within a timely period by
employees in the normal course of perfenning their assigned functions. We noted no matters
involving the internal control over financial reporting and its operation that we would consider to
be a material weakness.
This report is intended solely for the information and use of the Honorable Mayor, Members of
the City Council, federal awarding agencies, and pass-through entities and is not intended to be
and should not be used by anyone other than these specified parties.
BEUSSINK, HEY, ROE, SEABAUGH & STRODER, L.L.C.
N Roe X5 4 6-
Cape Girardeau, Missouri
November 7, 2003
102
CITY OF CAPE GIRARDEAU, MISSOURI
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2003
Federal
CFDA
Program
Federal Grantuo'Pass-Through Grantor Prourmn Title
Number
Number
Disbursements
U.S. DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT.
Passedthrough Missouri Department of
_
Economic Development -
Community Development Block Grana/
Slate's Program 111
14.228
2000 -ED -14
S 207,518
2002 -ND -04
63,045 S
270,563
Emergency Shelter Grants Program (ESG)
14.231
ER01640401
31,717
TOTAL U.S. DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
S
302,280
US DEPARTMENT OF.IUSTICE_
Gang -Free Schools and Communities - Community -
Based Gang Intenention
16544
Al C03000035
S
4,215
Passed Through Missouri Department of
Public Safety -
VictimsofChildAbuse
16547
01-JJTS-01
20,649
Crime Victim Assistance
16575
2000-VOCA-0010
S 6,525
2000-VOCA-0110
19.787
26,112
Local Law Enforcement Block Grana
Program
16.592
00 -LB -BX -2495
S I2,360
01 -LB -BX -3823
4.009
16,369
E,eculice Office for Need and Seed
1639;
N/A
20,808
Bulletproof Vest Partnership Proe am
16.607
NIA
9,e48
TOT9L It S- DEPARTMENT OF JUSTICE
S
97.901
The Accompanying Notes to
Schedule of E\pcnditwes of Federal
A,ards
Are an Integral
Part of
This Report.
CITY OF CAPE GIRARDEAU, MISSOURI
SCHEDULE OF EXPF.NDI'LURFS OF FEDERAL AWARDS
For the Year Ended June 30, 2003
Federal
CFDA Program
Federal Grantor/Pass-Throunh Grantor Pro,ram'l-nle Number Number
U.S. DEI?ARTMF.NT OF TRANSI'OR'FAVON:
Airport huprovement Progrum 20.106 3-29-0013-08
Passed Through Missouri Deparhncnt of
,. Transportanon-
Disbursements
I IighWay Planning and Construction 20.205 STP -1500(009) S 8,743
Fbrnmla Grants for Other Than
Urbanaed Areas
Stale and Community Ilightvay Safety
,S 1 P-1500(011) 49,019
SLI' -1500(005) 1176
STP -1500(001) 1.286
20.509 MO -I S -X023
20.600 02 -SA -09-2 S 29,510
02-YA-03-2 32-859
03 -SA -09-2 35,103
03 -AL -03-3 1.180
Alcohol Translcr Funds (2) 20. 02 -154 -AL -40
Essential Air Service Pro_ am (2) 20.
TOTAL U.S. DEPARTMENT OF TRANSPOR"I Al ION
The Accompanying Notcs to Schedule ofhxpcnditures of Fcdcra] Aearck
Arc an Inlcgral Part of'rhis Report.
104
S 43.805
61224
97,652
2_>83
21,920
S 345 9.35
CI IY Oh CAPE GIRARDEAU, MISSOURI
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2003
105
Federal
CFDA Program
--
Federal Granlor/Pass-Throueh Grantor Pro�rzam Title Number Number
Disbui
emenls
U.S. FEDERAL EMERGENCY MANAGEMENT
AGENCY:
Passed Through Missouri Stale Emergency
Public Assistance Grants 83.544 FEMA 1412 -DR -MO
$
119,757
Hazard Mitigation Grant Program 83.548 NEMA 1403 -DR -MO
22,179
TOTAL U.S. FEDERALEMERGENCY MANAGEMENT
AGENCY
S
141,936
']-OTAL FEDERAL AWARDS
S
891.062
(1) Identihedmajorprogram.
_
(2) A CFDA number has nut yet been assigned to this assistance.
The Accompanying Notes to Schedule of Expenditures of Federal Awards
Are an Integral Part of This Report.
105
ClIY OF CAPE GIRARDAU MISSOURI
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Year Ended June 30, 2003
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
A. Purpose of Schedule and Reoorrmn Entity:
The accompanying Schedule of Expenditures of Federal Awards has been prepared to
comply with OMB Circular A-133. This circular requires a Schedule of Expenditures of
Federal Awards showing total expenditures for each federal financial assistance program
as identified in the Catalog of Federal Domestic Assistance (CFDA) and identification of
programs that have not been assigned a CFDA number as "Other Federal Assistance."
The schedule includes all expenditures of federal awards administered by the City.
B. Basis of Presentation:
The schedule is presented in accordance with OMB Circular A-133, which defines
federal financial assistance "...assistance that non-federal entities receive or administer in
the form of grants, loans, loan guarantees, property (including donated surplus property),
cooperative agreements, interest subsidies, insurance, food commodities, direct
appropriations, and other assistance, but does not include amounts received as
reimbursement for services rendered to individuals."
C. Basis of Accountine:
The schedule is presented on the modified accrual basis of accounting, which recognizes
expenditures when liabilities for goods and services are incurred. This is the same basis
of accounting presented in the financial statements.
106
CITY OF CAPE GIRARDEAU MISSOURI
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the Year Ended June 30, 2003
1. SUMMARY OF AUDITORS' RESULTS:
Financial Statements
Type of Auditors' report issued: Unqualified
Internal control over financial reporting:
. Material weaknesses identified? yes
X no
. Reportable conditions identified that are not
considered to be material weaknesses? yes
X none reported
Noncompliance material to financial statements
noted? yes
X no
Federal Awards
Internal control over major programs:
..
. Material weaknesses identified? Yes
X no
. Reportable conditions identified that are not
considered to be material weaknesses? yes
X none reported
Type of Auditors' report issued on compliance for major programs:
Unqualified
Any audit findings disclosed that are required to be
reported in accordance "ith Section 510(x) of Circular
A-1339 _ yes
X no
Identification of major programs.
CFDA Numbcr Name of Federal Proeram
14.228 Community Development
Block GrantslStatc's Program
Dollar threshold used to distinguish
'
between type A and type B programs: S300.,000
.Auditee qualified as low-risk audilec: X yes
no
107
2. FINANCIAL STATEMENT FINDINGS:
No findings or questioned costs were noted that are required to be reported.
3. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS:
No findings or questioned costs were noted that are required to be reported.
108
CITY OF CAPE GIRARDEAU, MISSOURI
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
For the Year Ended .lute 30, 2003
02-1 Findine(Internal Control):
Certain aspects of the investment policy of the City of Cape Girardeau, Missouri are
not being followed.
Recommendation:
The City should comply, consistently, with all aspects of the adopted investment
policy.
Status:
Implemented.
109