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Home My WebLink About1986-1987.Auditors'Report � � � '1 '! � � FINANCIAL STATEMENTS AND AUDITORS' REPORT � CITY OF CAPE GIRARDEAU, MISSOURI June 30, 1987 � � � � � � � � � � � � � C 0 N T E N T S � Pa�e � AUDITORS' REPORT 6 � FINANCIAL STATEMENTS COMBINED BALANCE SHEET - ALL F'[JND TYPES AND � ACCOUNT GROUPS 8 COMBINED STATEMENT OF REVENUES AND EXPENDITURES - � ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS 10 � COMBINED STATEMENT OF CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES 11 COMBINED STATEMENT OF REVENUES AND EXPENDITURES - � BUDGET (GAAP BASIS) AND ACTUAL - GENERAL AND SPECIAL REVENUE FUND TYPES 12 � COMBINED STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL - DEBT SERVICE AND CAPITAL PROJECTS FUND TYPES 13 � COMBINED STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL - SPECIAL ASSESSMENT FUND TYPES 14 � COMBINED STATEMENT OF REVENUES AND EXPENSES - ALL PROPRIETARY FUND TYPES 15 � COMBINED STATEMENT OF CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES 16 � COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION - ALL PROPRIETARY FUND TYPES 1� � NOTES TO FINANCIAL STATEMENTS lg GENERAL FUND � STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 30 � SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET 31 � COMBINING STATEMENT OF REVENUES AND EXPENDITURES 32 � COMBINING STATEMENT OF CHANGES IN FUND BALANCE 33 2 � � � C 0 N T E N T S � Page SPECIAL REVENUE FUNDS - Continued � CONVENTION/TOURISM SPECIAL REVENUE FUND - STATE- � MENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 34 i� FEDERAL SHARED REVENUE SPECIAL REVENUE FUND - STATEMENT OF REVENUES AND EXPENDITURES - � BUDGET (GAAP BASIS) AND ACTUAL 35 DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND - � STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 36 PARKS AND RECREATION SPECIAL REVENUE FUND - � STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 3� � HEALTH SPECIAL REVENUE FUND - STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 38 � MOTOR FUEL TAX SPECIAL REVENUE FUND - STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 39 � DEBT SERVICE FUNDS 1984 PUBLIC BUILDING BONDS FUND - STATEMENT OF REVENUES � AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 40 CAPITAL PROJECTS FUNDS � COMBINING BALANCE SHEET 41 COMBINING STATEMENT OF REVENUES AND EXPENDITURES 42 � COMBINING STATEMENT OF CHANGES IN FUND BALANCE 43 � MULTI-USE CENTER CONSTRUCTION FUND - STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 44 � FAU STREET GRANTS FUND - STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 45 � COMMUNITY DEVELOPMENT BLOCK GRANT FUND - STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 46 � 3 � � � C 0 N T E N T S � Pa�e CAPITAL PROJECTS FUNDS - Continued � PARK GRANTS FUND - STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 4� � PARK IMPROVEMENTS FUND - STATEMENT OF REVENUES AND ' EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 48 � SPECIAL ASSESSMENTS - STREET FUND BALANCE SHEET 49 � STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL 50 � COMBINING STATEMENT OF CHANGES IN FUND BALANCE 51 ENTERPRISE FUNDS � COMBINING BALANCE SHEET 52 � COMBINING STATEMENT OF REVENUES AND EXPENSES 53 COMBINING STATEMENT OF CHANGES IN RETAINED EARNINGS 54 � INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET 55 � COMBINING STATEMENT OF REVENUES AND EXPENSES 56 � COMBINING STATEMENT OF CHANGES IN RETAINED EARNINGS 57 TRUST AND AGENCY FUNDS � COMBINING BALANCE SHEET 58 COMBINING STATEMENT OF REVENUES AND EXPENDITURES 59 � SUPPLEMENTAL INFORMATION � REPORT ON INTERNAL ACCOUNTING CONTROLS BASED SOLELY ON A STUDY AND EVALUATION MADE AS A PART OF AN EXAMINATION OF THE GENERAL PURPOSE FINANCIAL STATEMENTS 61 � REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS BASED ON AN EXAMINATION OF GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH THE STANDARDS FOR AUDIT � ISSUED BY THE GAO 63 4 � � � C 0 N T E N T S � Paee SUPPLEMENTAL INFORMATION - Continued � REPORT ON STATEMENT OF FEDERAL FINANCIAL ASSISTANCE 64 STATEMENT OF FEDERAL FINANCIAL ASSISTANCE 65 � REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS RELATED TO MAJOR AND NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS (,7 � REPORT ON INTERNAL CONTROLS (ACCOUNTING AND ADMINISTRATIVE) - BASED ON A STUDY AND EVALUATION MADE AS A PART OF AN � EXAMINATION OF THE GENERAL PURPOSE FINANCIAL STATEMENTS AND THE ADDITIONAL TESTS REQUIRED BY THE SINGLE AUDIT ACT 69 STATEMENT OF INSURANCE COVERAGE 72 � � '"1 � � � � � � � - � 5 � � KERBER, ECK & BRAECKEL � CERTIFIED PUBLIC ACCOUNTANTS 1221 BROADWAY OFFICES IN CAPE GIRARDEAU,MISSOURI 63701 MEMBERS nMERICAnt CAPE GIRARD6AU.MISSOURI IIYSTITUTE OF CERTIFIED � ST.LOUIS,MtSSOURI PUBLiC ACCOUNTANTS KANSAS CITY,MISSOIIRI SPRINGFIELD,ILLINOIS 314334-0568 MILWAUKEE,WISCONSIIY � WASHINGTON,D.C. � Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri � We have examined the general purpose financial statements of the City of Cape Girardeau, Missouri and the combining, individual fund and account group � financial statements of the City as of and for the year ended June 30, 1987, as listed in the table of contents. Our examination was made in accordance with generally accepted governmental auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we � considered necessary in the circumstances. As described in note A2, the City has kept its records and has prepared its � financial statements for previous years on the cash basis, with no recognition having been accorded accounts receivable, accounts payable, or accrued expenses. At the beginning of the current year, the City adopted the accrual basis of � accounting. Although appropriate adjustments have been made to fund balances as of the beginning of the year, it was not practicable to restate the financial statements of the preceding year to conform with the accounting principles used in the current year. � As described in note A3, the general purpose financial statements referred to above do not include the General Fixed Asset Account Group, which should be � included to conform with generally accepted accounting principles. The amount that should be recorded in the general fixed assets account group is not known. � In our opinion, except for the general fixed account group on which we are unable to express an opinion, the general purpose financial statements referred to above present fairly the financial position of the City of Cape Girardeau, Missouri, at June 30, 1987, and the results of its operations and the changes in � financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Also, in our opinion, the � combining, individual fund, and account group financial statements referred to above present fairly the financial position of each of the individual funds and account groups of the City of Cape Girardeau, Missouri, at June 30, 1987, and the results of operations of such funds and the changes in financial position of � individual proprietary fund types for the year then ended, in conformity with generally accepted accounting principles. � � 6 � � � Our examination was made for the purpose of forming an opinion on the � general purpose financial statements taken as a whole and on the combining, individual fund, and individual account group financial statements. The accompanying financial information listed as supporting schedules in the table � of contents is presented for purposes of additional analysis and is not a required part of the financial statements of the City of Cape Girardeau, Missouri. Such information has been subjected to the auditing procedures applied in the examination of the general purpose, combining, individual fund, � and individual account group financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements of each of the respective individual funds and account groups, taken as a whole. � ii - �- ��a?�G�-�t.� �� Cape Girardeau, Missouri September 24, 1987 1 � 7 ( 0 OZO`E£S`9Z$ h9T'06T`S$ 991'ZE£$ SOL'LEZ`T$ Z06'969'hT$ 978`9EZ$ TOL'TST$ 506`6[£$ L68M 'T$;-, ` TE9'£ZZ'E$ saassy i0 le4oy 66£'OTS`h 69£'OTS'h - _ _ _ _ _ _ lgap =OZ-BuOT Texaua8 ;o 4uam SO8 6L£ SOS 6L£ - - _ _ - -azTlaz zo; papinoxd aq oZ qunomy _ _ _ _ pang aolnxas LLI'Zh .-'....: i.. igaQ ul aTgeTTene aunomy TTE`9S8'IT - - £TS'OLL 86[`980'71 - - - uansuT - - - (p azou)uuoTZVToaxdapxd ZZO`h9h - L88`19 886'Z6T ZLO'ZhT - - - OZL pagrT�ooe ;o Dau 'sgasse paxTg T69 ZL - - SSE 99 slua=sanul pue gse0 pazolxzsag T69'E6 - LIE'L - TTS'S 9SL'Z h94`Z - 897'8 £1h'SZ T69`ZL aTgenTaoax xaggo 9TIh8 - ESh`16T - - Z91`Th Z£0'61 3sazazul T89'SLZ _ _ - T89`SLZ - - algenlaoax szuex9 L96 TTS - - - ajquATaoax sa8xeg0 SITTTZfl h96'6Z - L96`TTT - - szssamssasse lel0ads 89£`hL - - _ - - - - - h96`6Z - saa; asuaOTT aTOlgaA ZcIOK ZSh'Zi - _ _ _ - - - 89£`hL - xe4 Tan; a040W Zh6'hh _ _ _ - - - - Z9' saTas BT0Tg3A x04ON h06`OLh - _ _ _ - - Zh67h - xe-4 zuexne4saz 'Ta20m 'Ta7oH 091'988 - 861`81 _ - - - - - - - 8L9'6 - ESZ`9 h06'0Lh TZT`ZS8 xe1 sales (Er a2ou) saxel slueguam pue 'azegsa Teax 'S}xadOxd Teuosxad saTgenlaoax Tn;zgnop 9h6`ZT9`E $ - $ 790`ShZ$ TOS`8ZZ $ 86£`£OT $ SZT`ZZT$ (ZSL`6£)$ 69L`19£$ 9HL`068 $ 990`TOL`T$ xo; szOu mO TTe ;o zau 'salgeATaoag sjuamZsanul pue 74se0 (3lup 2gaQ ossa y aOTnxas aslaa aw8 ?uamssassyso0atozd aoltsas anuanag lexaua0 SS3SSV mn uezoma P Yi) mxa 8uo S- Z uE P 7snxS T�a1u2 leloads Te1T deo zgaQ Teloads sTegoy Texaua0 any -puna sa ypuna e4alx o3d sa Z P3 Te�uamcuano0 nox�o3y SxelonPl3 L86T 'OE a�f samdo ZNNOOOy m szo-i ONQ3 'PIV - S33Hs 30 nva aaRiE 100 Tznosslyq 'neapzezl0 ade0 ;o Sg10 0 luamazszs sTuz 90 l=ed TszBazuT us aze sazou BuTSuedm000s aqy OZO'££5'9Z$ 791'06T'S$ 997'Z££$ SOL`L£Z`T$ Z08`S69'hT$ 918'9EZ$ TOL'TST$ 909`6L£$ L68`h80'T$ TE9'£ZZ'£$ kglnba puna pue saT1TTTgeT'I Tszoy ---------- 70£'E9L'8T ---------- --------- - --------- ------- £TO'6T£ ------- --------- £OT'8ZT'T ---------- Zhh`SOL'ZT ------- 9h8'9EZ -'•----- TLS'ZTT ------- 908'6L£ --------- 985'Z96 --------- 6E6'816'Z Z66'OZh`7 - 9ZT'LSZ --------- - ---------- - ------- 978'9EZ ------- TLS`ZTT ------- - --------- 598'T96 --------- h85'ZSS'Z L9L'809 - L88'T9 - - - - 908'6L£ OZL SSE'99 98h'86h`£T - - 9TT'9£6 OL£'£9S'ZT 09015££ - - 886'Z6T ZLO'ZhT 9TL'69L'L ---------- h9T'06T`9 --------- ESh'£T ------- 909'601 --------- 09£'066'T - 0£T'6E - ZT£'ZZT Z69'h0E 91L'77 - - - ---------- 9TL'77 ------- -'------ ------- --------- --------- 0001OSL'h 000'08L'h 000'SL£`T - - - 000'SLE`T ZOZ'SLL 791'OTh - - 8E0'S9E 7LT - - - - - - - - hLT 160`8ZZ - hZ8'7 ZL9`8 6E£'Z£ - - - ZLI'T£ 788`OST £ES'995 $ - $ 6Z9`8 $ £EO'TOT $ L9Z'£LT $ - $ OET'6£ $ - $ 078'06 $ 7E9'EST (LTup zgaQ 0� aoTnzaS asTz a-4ugluamssass V s.oa 7 ozd aoTn=ag anuana8 Tszaua0 mnpuszomax) mzay-8uo7 pue zsnzy Tsuza:Lul TaToadg Ts}TdeO TgaQ TsToadg STszoy Tezaua0 acTj pond san y puna ?gaTzoozd sa y puna Tszuam ano0 noz�0y LzsTonpTa L861 '0£ aunf G=ISN00 - sdnOED MOON QNd SZJAI ONna 77V - xHa2s 30NVTV8 O%NIEROO TznossTN 'nsapzezTO ade0 go 6zTn pan asazun panzasag aou Tsq puna pan=asazun pan=asag s9uTu=sa pauTezag 6ilnba puna saTgTTTgeT7 Ivial zlgedsd zsazajuT (Q azou) aTgs6sd spuoq uoTaeBTTgo Tszaua0 (Q alou) aTgeSsd spuoq anuanag (a azou) aTge6ed suoT4v2TTgo aseuo=nd/aseaZ squamu=an08 zagzo oZ anQ sq7;auaq a9uTz3 pus saxsz TToz6ed saT-4lTTgsTT P@=OOV $ aTgs6ed siun000V S3ISI'IISVI7 � �� -1 O T N O P N 1 I 1fl V1 V1 �O O�.t V1 O V1 1 T 1 1 GO O I N I �O N � N e�/ � fA�1 vl P �O I O 1� h t� �t�O ri O P1 1 �O I �O 00 CO 1 T I h I1 M Ci H1 CO � �t N f� O r1 I 1� d rl P O T�fl O t�1 I N I Y'1 P �t 1 �O 1 N 11 � ro _ . . . . . . � . . . . . . . . . � . � . . . , . , ld M .-1 CO 1� O� �t d1 N O O 1 �O PI N 1 N C�1 Q a0 O I O� I N N aD I V1 1 aD I O B � n V1 c+1 e�l V1 O � rl I T 1� rl rl O O O� CD ri I O� 1 O N GO 1 �O 1 �D 11 � �D Q 01 Q 1+1 O� N Q I 1� O�.�i 1 �-1 O N N �1 1 �O I O� O� N 1 Pf I N II F 01 . � . . � . � . . � . i . � ,�" f� rl 1 r1 e� Q e-1 e�i �R 1 l+1 1 rl N �T I rl I N1 II 1 'i 1 rl I v v I v I � �� N N d1 N � � 01.-1 �d A ao �+ s ..�n rn i ao v, i �n i �n i i �n n +a F'O 1.� �O N N f+1 O� 00 I N T 1 O� I l+1 I I o1 ry U C W n a0 t a rl O� � �O N � N 1 cn 1 � M II '�'d y � 1 + + + + + 1 1 1 I I I I 1 1 + 1 + I I 1 1 1 +� 7p� N T 1�� V1 'i 1 1 V1 � I � I 1� I 1 f� I % H � � N GD 1 Pl N I N 1 O 1 1 O N W R.W N � Y en I t+� i .i 1 1 rl A y N � N C. .+ N o � o o bf � t+7 � c1 0 � o � n I IE E �T 1 .t O O I O I �O O I O I c�1 II +� N T 1 01 O � 1 � I � O I O I rl I � U �l 1 1 I + I 1 1 I I . 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M 1� ar �U F p � w N 4 H �+ ,a u W W �0 b y O U W YI Y� Ll •.� a� 3+ q hi H M tA C, V % a+ a+ S� p.A R4 tr U PG Lp, 0p1, v1 ?. Cy N � F�-�i �-�i PWiUGI W �00 UX W 6' � � W q O W �..� � � City of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL - SPECIAL ASSESSMENT FUND TYPES Year ended June 30, 1987 � S�ecial Assessment Fund Types � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Taxes and special assessments $ 55,035 $ - $(55,035) Interest 21,000 22,940 1,940 � 76,035 22,940 (53,095) EXPENDITURES Principal 173,000 173,000 - � Interest __16,000 __11,803 4,197 189,000 184,803 4,197 � -------- -------- ------- DEFICIENCY OF REVENUES OVER EXPENDITURES (112,965) (161,863) (48,898) � OTHER FINANCING SOURCES Operating transfers in 175,000 175,000 - � -------- -------- ------- EXCESS OF REVENUES AND OTHER FINANCING SOURCES OVER � EXPENDITURES $ 62,035 $ 13,137 $(48,898) � a�� The accompanying notes are an integral part of this statement. 14 � � � City of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES AND EXPENSES - ALL PROPRIETARY FUND TYPES Year ended June 30, 1987 � � Pro�rietary Fund Types Totals Internal (Memorandum Enter�rise Service Onl�� OPERATING REVENUES � Charges for services $2,414,118 $1,173,941 $3,588,059 Rents 84,113 - 84,113 Concession and equipment sales 55,415 - 55,415 � Interest 47,225 19,738 66,963 Sale of property 81 81 Miscellaneous 6,703 14,154 20,857 Intergovernmental 660,669 - 660,669 � 3,268,243 1,207,914 4,476,157 � OPERATING EXPENSES Personal services 1,158,044 281,621 1,439,665 General operations 556,354 328,381 884,735 Contractual services 859,297 485,628 1,344,925 � Capital outlay 18,447 656,226 674,673 Projects 7,841 - 7,841 Depreciation 589,199 61,558 650,757 � 3,189,182 1,813,414 5,002,596 --------- --------- --------- 79,061 (605,500) (526,439) � NONOPERATING EXPENSES Interest 127,140 - 127,140 � Handling charges 671 - ------671 127,811 - 127,811 --------- --------- --------- � OPERATING LOSS BEFORE OTHER FINANCING SOURCES (USES) (48,750) (605,500) (654,250) � OTHER FINANCING SOURCES (USES) Operating transfers in 562,028 900,414 1,462,442 Operating transfers out (96,750) - (96,750) � --------- --------- --------- 465,278 900,414 1,365,692 --------- --------- --------- � NET INCOME $ 416,528 $ 294,914 $ 711,442 � _ � � The accompanying notes are an integral part of this statement. 15 � � � City of Cape Girardeau, Missouri COMBINED STATEMENT OF CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUNDS TYPES Year ended June 30, 1987 � � ProvrietarY Fund T es Totals Internal (Memorandum Enter�rise Service Onlv) � Retained earnings at beginning of year - cash basis $ 267,669 $ 249,248 $ 516,917 � Adjustments to convert to accrual basis (note A2) (1,563,684) (67,022) (1,630,706) Adjustment to record fixed assets (note A3) 12,476,953 650,963 13,127,916 � ---------- --------- ---------- Retained earnings at beginning of � year - accrual basis 11,180,938 833,189 12,014,127 Contribution from Capital Projects Fund 1,107,976 - 1,107,976 � Net income 416,528 294,914 711,442 ---------- --------- ---------- � Retained earnings at end of year $12,705,442 $1,128,103 $13,833,545 �� 1 # � � � The accompanying notes are an integral part of this statement. 16 � � � City� of Cape Girardeau, Missouri COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUNDS TYPES Year ended June 30, 1987 � � Pro�rietary Fund TYpes Totals Internal (Memorandum Enterprise Service Onl,�_ � Sources of working capital Operations Net income $ 416,528 $294,914 $ 711,442 � Add back items not requiring working capital - depreciation 589,199 61,558 650,757 ---------- ------- --------- Working capital provided � by operations 1,005,727 356,472 1,362,199 Net increase in lease purchase � obligations payable 272,281 - 272,281 Total sources of working capital 1,278,008 356,472 1,634,480 � Uses of working capital � Acquisition of fixed assets 2,198,044 108,529 2,306,573 Decrease in long-term revenue bonds payable 25,000 - 25,000 Net decrease in lease purchase � obligations payable 43,902 - 43,902 Net increase in restricted assets 142,072 192,988 335,060 ---------- ------- --------- � Total uses of working capital 2,409,018 301,517 2,710,535 ---------- ------- --------- � Net increase (decrease) in working capital $(1,131,010) $ 54,955 $(1,076,055) 1 � � � � � # � 17 1 � � City of Cape Girardeau, Missouri COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION - ALL PROPRIETARY FUNDS TYPES - CONTINUED Year ended June 30, 1987 � � _ Pronrietarv Fund Tvpes Totals Internal (Memorandum Entervrise Service Onl�) � Elements of net increase (decrease) in working capital Cash and investments $(1,287,760) $(20,747) $(1,308,507) � Receivables 219,590 5,199 224,789 Prepaid expenses 1,982 40,195 42,177 Accounts payable (49,530) 32,972 (16,558) Accrued expenses (9,366) (2,664) (12,030) � Interest payable (5,926 - (5,926) ----------) ------- ---------- Net increase (decrease) � in working capital $(1,131,010) $ 54,955 $(1,076,055) � � � � # � � � � � 1 � The accompanying notes are an integral part of this statement. 18 � � � City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1987 � NOTE A - SUMMARY OF ACCOUNTING POLICIES � The City of Cape Girardeau, Missouri operates under a charter which went into effect April 12, 1982. The City operates under a Council-Manager form of government and provides the following services as authorized by its charter: � public safety (police and fire) , highways and streets, sanitation, health and social services, culture-recreation, public improvements, planning and zoning and general administrative services. � A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements follows. � 1. Fund Accounting The accounts of the City are organized on the basis of funds and account � groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self- balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses as appropriate. � Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which � spending activities are controlled. The various funds are grouped, in the financial statements in this report, into fund categories as follows. GOVERNMENTAL FUNDS � General Fund - The General Fund is the general operatin fund of the Cit . g y It is used to account for all financial resources except those required to Ibe accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the � proceeds of specific revenue sources (other than special assessments, expendable trusts or major capital projects) that are legally restricted to expenditures for specified purposes. � Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest and related costs. � Capital Project Funds - Capital Project Funds are used to account for financial resources to be used for the acquisition or construction of major � capital facilities (other than those financed by Proprietary Funds, Special Assessment Funds and Trust Funds) . Special Assessment Funds - Special Assessment Funds are used to account for � the financing of public improvement or services deemed to benefit the • properties against which special assessments are levied. � 19 � � City of Cape Girardeau, Missouri � NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued l. Fund Accountine - Continued � PROPRIETARY FUNDS � Enterprise Funds - Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs � (expenses) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues collected, expenses paid, and/or net income is appropriate for � capital maintenance, public policy, management control, accountability, or other purposes. � Internal Service Funds - Internal Service Funds are used to account for the financing of goods or services provided by one department to other depart- ments of the City, on a cost-reimbursement basis. � FIDUCIARY FUNDS Trust and Agency Funds - Trust and Agency Funds are used to account for � assets held by the City in a trustee capacity or as an agent for individuals, private organization, other governments, and/or other funds. Agency Funds are custodial in nature and do not involve measurement of � results of operations. The City of Cape Girardeau has Agency Funds set up for the City's library and the flood protection program. � 2. Chan�e in Accounting Methods Prior to July 1, 1986, the City's policy was to prepare its financial state- ments on the basis of cash receipts and disbursements. The City also � maintained its accounting records on a single-entry basis and did not maintain fixed assets and long-term debt group of accounts. � Effective July 1, 1986, the City converted to the modified accrual basis of accounting for all governmental funds and the accrual basis of accounting for all proprietary funds. The City also started maintaining fixed asset and � long-term debt group of accounts (note A3 and A4) . 3. Fixed Assets and Long-term Liabilities � The accounting and reporting treatment applied to the fixed assets and long- term liabilities associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial � flow" measurement focus. This means that only current assets and current liabilities. are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of "available � spendable resources" . Governmental fund operating statements present 20 � � City of Cape Girardeau, Missouri � NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued � 3. Fixed Assets and Long-term Liabilities - Continued increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said � to present a summary of sources and uses of "available spendable resources" during a period. � The City of Cape Girardeau presently maintains detailed property records only for proprietary fund types. Detailed property records are not maintained for all other funds of the City of Cape Girardeau. Expenditures for general fixed assets are charged to expenditures when made for these funds. � Al1 fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at � their estimated fair value on the date donated. Long-term liabilities expected to be financed from governmental funds are � accounted for in the General Long-term Debt Account Group, not in the governmental funds. The two account groups are not "funds" . They are concerned only with the � measurement of financial position. They are not involved with measurement of results of operations. � Noncurrent portions of long-term receivables due to governmental funds are reported on their balance sheets, in spite of their spending measurement focus. Special reporting treatments are used to indicate, however, that they � should not be considered "available spendable resources, " since they do not represent net current assets. Recognition of governmental fund type revenues represented by noncurrent receivables is deferred until they become current receivables. Noncurrent portions of long-term loans receivable are offset by � fund balance reserve accounts. Because of their spending measurement focus, expenditure recognition for � governmental fund types is limited to exclude amounts represented by non current liabilities. Since they do not affect net current assets, such long- term amounts are not recognized as governmental fund type expenditures or fund � liabilities. They are instead reported as liabilities in the General Long- term Debt Account Group. All Proprietary Funds are accounted for on a cost of services or "capital � maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is � segregated into contributed capital and retained earnings components. Proprietary Fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. � 21 � � City of Cape Girardeau, Missouri � NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued � 3. Fixed Assets and Long-term Liabilities - Continued Depreciation of all exhaustible fixed assets used by Proprietary Funds is charged as an expense against their operations. Accumulated depreciation is � reported on Proprietary Fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight-line method. The estimated useful lives are as follows. � Buildings 25-50 years Improvements 10-40 years � Equipment 3-10 years 4. Basis of Accountine � Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the � measurement focus applied. All governmental funds are accounted for by using the modified accrual basis � of accounting. Their revenues are recognized when they become measurable and available as net current assets. Taxpayer-assessed income, gross receipts and sales taxes are considered "measurable" when in the hands of intermediary collecting governments and are recognized as revenue at that time. � Anticipated refunds of such taxes are recorded as liabilities and reductions of revenue when they are measurable and their validity seems certain. � Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include principal and interest on general long-term debt which is � recognized when due. Al1 Proprietary Funds are accounted for by using the accrual basis of accounting. Their revenues are recognized when they are earned and their � expenses are recognized when they are incurred. Unbilled Solid waste and Sewerage system utility service receivables are recorded at year end. � 5. Budgets and Budgetary Accounting The City follows these procedures in establishing the budgetary data � reflected in the financial statements. 1. The City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The � operating budget includes proposed expenditures and the means of financing them. � 2. Public hearings are conducted to obtain taxpayer comments. 22 � � City of Cape Girardeau, Missouri � NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE A - SUMMAR.Y OF ACCOUNTING POLICIES - Continued � S. Budeets and Budgetary Accounting - Continued 3. Prior to July 1, the budget is legally enacted through passage of an ordinance. � 4. The City Manager is authorized to transfer budgeted amounts between programs within any department, however, any revisions that alter the � total expenditures of any department must be approved by the City Council. � 5. Formal budgetary integration is employed as a management control device during the year for all funds. 6. Budgets for all funds are adopted on a basis consistent with generally � accepted accounting principles (GAAP) . Individual budget amendments made throughout the year were not material in � relation to the total original appropriations which were amended. 6. Total Columns on Combined Statements - Overview � Total columns on the Combined Statements - Overview are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present results of operations in � conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. � � � � � � � 23 � � � City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE D - LONG-TERM OBLIGATIONS The following is a summary of bond transactions of the City for the year � ended June 30, 1987. General Obli- Revenue � gation Bonds Bonds Total Bonds payable at July 1, 1986 $4,895,000 $1,400,000 $6,295,000 � Bonds retired 115,000 25,000 140,000 --------- --------- --------- � Bonds payable at June 30, 1987 $4,780,000 $1,375,000 $6,155,000 � � � Bonds payable at June 30, 1987, are comprised of the following individual issues. � $4,780,000 1984 Public Building serial bonds due as follows. Year ending Interest Principal Interest _June 30. Rate Due Due Total � 1988 12.00$ $ 120,000 $ 483,660 $ 603,660 1989 12.00 130,000 468,660 598,660 � 1990 12.00 140,000 452,460 592,460 1991 12.00 150,000 435,060 585,060 1992 12.00 160,000 416,460 576,460 1993 12.00 175,000 396,360 571,360 � 1994 9.25 190,000 377,073 567,073 1995 9.00 205,000 359,060 564,060 1996 9.20 225,000 339,485 564,485 � 1997 9.40 245,000 317,620 562,620 1998 9.60 265,000 293,385 558,385 1999 9.80 290,000 266,455 556,455 2000 10.00 320,000 236,245 556,245 � 2001 10.00 350,000 202,745 552,745 2002 10.10 385,000 165,802 550,802 2003 10.20 430,000 124,430 554,430 � 2004 10.25 475,000 78,156 553,156 2005 10.25 525,000 26,906 551,906 --------- --------- ---------- � $4,780,000 $5,440,022 $10,220,022 � � � Principal payments are made on November 1, and interest payments are made � semi-annually on May 1, and November 1. � 25 � � � City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE D - LONG-TERM OBLIGATIONS - Continued "# � $1,375,000 1986 Sewerage System Revenue Bonds due as follows. Year ending Interest Principal Interest June 30, Rate Due Due Total � 1988 9.00$ $ 25,000 $ 109,548 $ 134,548 1989 9.00 30,000 107,298 137,298 � 1990 9.00 30,000 104,597 134,597 1991 9.00 35,000 101,897 136,897 1992 8.50 40,000 98,748 138,748 1993 8.50 45,000 95,347 140,347 � 1994 8.50 50,000 91,523 141,523 1995 7.50 50,000 87,272 137,272 1996 7.50 60,000 83,523 143,523 � 1997 7.50 65,000 79,022 144,022 1998 7.50 70,000 74,148 144,148 1999 7.60 75,000 68,897 143,897 2000 7.70 85,000 63,198 148,198 � 2001 7.75 95,000 56,652 151,652 2002 7.80 100,000 49,290 149,290 2003 7.90 110,000 41,490 151,490 � 2004 8.00 125,000 32,800 157,800 2005 8.00 135,000 22,800 157,800 2006 8.00 150,000 12,000 162,000 --------- --------- --------- � $1,375,000 $1,380,050 $2,755,050 � � � � Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. � � � � 1 . � 26 � � � City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE D - LONG-TERM OBLIGATIONS - Continued � The annual requirements to amortize all debt outstanding as of June 30, 1987, including interest payments of $6,820,072 are as follows. General � Year ending Obligation Revenue June 30, Bonds Bonds Total � 1988 $ 603,660 $ 134,548 $ 738,208 1989 598,660 137,298 735,958 1990 592,460 134,597 727,057 1991 585,060 136,897 721,957 � 1992 576,460 138,748 715,208 1993 571,360 140,347 711,707 1994 567,073 141,523 708,596 � 1995 564,060 137,272 701,332 1996 564,485 143,523 708,008 1997 562,620 144,022 706,642 1998 558,385 144,148 702,533 � 1999 556,455 143,897 700,352 2000 556,245 148,198 704,443 2001 552,745 151,652 704,397 � 2002 550,802 149,290 700,092 2003 554,430 151,490 705,920 2004 553,156 157,800 710,956 2005 551,906 157,800 709,706 � 2006 - 162,000 162,000 ---------- --------- ---------- $10,220,022 $2,755,050 $12,975,072 � � � � $379,805 is available in the Debt Service Fund to service the general obliga- tion bonds. � In the Sewer Fund, $123,547 cash is available. Of this, $112,709 is avail- able to service the Sewerage Revenue Bonds. � The City is in compliance with all significant limitations and restrictions contained in the various bond indentures. � � � � 27 � � City of Cape Girardeau, Missouri � NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE E - CAPITAL LEASE OBLIGATIONS The City is the lessee of certain equipment under capital leases. The assets � and liabilities under capital leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are amortized over their estimated productive lives. � Following is a summary of property held under capital leases. � General Fixed Enterprise Asset Group Funds � Luggar truck $ = $ 64,425 Sanitation truck 99,476 Golf carts - 68,000 Golf course irrigation system - 204 281 Fire truck 410,164 � 410,164 436,182 � Less accumulated amortization - 71,144 $410,164 $365,038 �� The following is a schedule by years of future minimum lease pa ents under Ym capital leases together with the present value of the minimum lease payments � as of June 30, 1987. Year ending General Fixed Enterprise � June 30, Asset Group Funds 1988 $105,032 $ 90,217 1989 105,032 91,135 � 1990 105,032 75,180 1991 105,032 40,331 1992 52,489 28,968 � Succeeding years - 144,886 ------- Total minimum lease � payments 472,617 470,717 Less amount repre- senting interest 62,453 105,679 ------- ------- � Present value of net minimum lease pay- ments $410,164 $365,038 � � � � 28 � � City of Cape Girardeau, Missouri � NOTES TO FINANCIAL STATEMENTS - CONTINUED June 30, 1987 � NOTE E - CAPITAL LEASE OBLIGATION - Continued � Current portion $ 83,048 $ 65,870 Noncurrent portion 327,116 299 168 , � $410,164 $365,038 � �� NOTE F - DEFICIT FUND BALANCES � The Parks and Recreation Special Revenue Fund has a deficit fund balance of $5,798. � NOTE G - PENSION PLAN The City participates in the LAGERS retirement system. LAGERS (Local � Government Employees Retirement System) is a statewide retirement plan for local government employees and is administered by a board of trustees which is completely independent of the City of Cape Girardeau. The City is responsible � only for the remittance of City contributions to the plan. Substantially all full-time employees of the City are covered under LAGERS. The cost to the City for the year ended June 30, 1987, was approximately � $305,238 which includes amortization of prior service cost over an initial forty (40) year period. The Missouri statutes require that accrued pension cost be funded. The contribution rates are determined by the LAGERS' Board of � Directors and their actuary. The total unfunded liability for benefits accrued as of February 28, 1987, the date of the latest available actuarial valuation, was $1,646,401. Due to the nature of the plan, it is not possible to determine the actuarially computed value of vested and nonvested accumu- � lated plan benefits and the plan's net assets for the City standing alone. There were no changes in actuarial methods during the past fiscal year. � NOTE H - INSTALLMENT SALE � The City sold a former public works building to the Southeast Missouri State � University Development Foundation on November 19, 1979, for $100,000. The sale agreement calls for ten annual installments of $10,000 plus interest at the highest current investment rate received by the City. At June 30, 1987, � $10,000 was receivable on this obligation. � NOTE I - INTEREST EXPENSE Interest cost totaling $647,323 was incurred during the year ended June 30, � 1987. No interest cost was capitalized as part of the cost of assets constructed during the period. 29 � � City of Cape Girardeau, Missouri � GENERAL FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Taxes $ 6,655,378 $ 6,553,547 $(101,831) Licenses and permits 472,300 457,810 (14,490) Fines and forfeitures 342,000 330,026 (11,974) Interest 85,688 120,552 34,864 � Fees and service charges 259,000 255,734 (3,266) Intergovernmental 89,161 90,825 1,664 Miscellaneous 155,763 158,083 2,320 � Loan proceeds - 410,164 410,164 ---------- ---------- -------- 8,059,290 8,376,741 317,451 � EXPENDITURES General government 1,457,730 1,485,183 (27,453) Public safety 4,112,834 4,112,155 679 � Highways and streets 1,422,368 1,409,242 13,126 Culture and recreation 63,012 56,990 6,022 ---------- ---------- -------- 7,055,944 7,063,570 (7,626) � EXCESS OF REVENUES OVER EXPENDITURES 1,003,346 1,313,171 309,825 � OTHER FINANCING SOURCES (USES) _ Operating transfers in 560,000 560,000 Operating transfers out (1,543,416) (1,953,580) (410,164) ---------- ---------- -------- � __(983,416) (1,393,580) (410,164) ---- ---------- -------- EXCESS (DEFICIENCY) OF REVENUES AND � OTHER FINANCING SOURCES OVER EXPENDI- TURES AND OTHER FINANCING USES $ 19,930 $ (80,409) $(100,339) � �� 30 � � � � E7 �n t+1N00 �Nmo i n II o a o �n i �n i n II '7 a0 v1 v �O �D v1 .-� N I a I a n N �n 1 aD I T 11 m C n N o� en o� v o n i w I� a0 S n ao i v1 i a0 II .-i �tl . . . . , i . 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N 1� oCi 'V c�l n i a o� � fd N {Zs� 01 'd �C '� ^� � � � 1 1 � U W £ F+ W f� K. � N i N e� 1 � v I w a w m � � i n O fA F 41 y y T F � L� N a U U q � 7" N � � 00 n I y�j O I I� pII �.y � �O I T �� 4 + I � O C H w N � i � o i v1 I� � i v1 v � � j� V 0 I � U H � � M bC � � A � o n �i � � � � � a u � a a � x � � �, w " 0 o a d � w � � � M H � � N � rof.' 4/ > dl A � > � w o o � w n y o a�0i °u a d o u o m v � A C a pd, d � ..�i y � � u K .�i u ..�i N b A U �•�1 R � U.L W 'b � W O � q d A +a .. p R � .-i A afii ,.�i �hy x a A W � 11 .0 � �d p 4� .� N �.�"1 � A 'b t0 'b A 'C O W �Y,W � b � 0 6 � ro L+: W C W � � � City of Cape Girardeau, Missouri CONVENTION/TOURISM SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Taxes and special assessments $ 506,000 $ 520,260 $ 14,260 Interest 18,366 24,993 6,627 -------- -------- � 524,366 545,253 20,887 EXPENDITURES General government 140,000 159,854 (19,854) ----;--- ----;--- w EXCESS OF REVENUES OVER EXPENDITURES 384 366 385 399 1,033 �� OTHER FINANCING USES � Operating transfers out (420,000) (420,000) DEFICIENCY OF REVENUES OVER EXPEND- ITURES AND OTHER FINANCING USES $ (35,634) $ (34,601) $ 1,033 � �� 34 � City of Cape Girardeau, Missouri � FEDERAL SHARED REVENUE SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 Variance - � Favorable Budget Actual (Unfavorable) REVENUES � Interest $ 10,492 $ 18,284 $ 7,792 Intergovernmental 260,746 260,746 271,238 279,030 7,792 � EXPENDITURES General government 10 10 - EXCESS OF REVENUES OVER EXPENDITURES 271,228 279,020 7,792 � OTHER FINANCING USES Operating transfers out (512,479) (521,018) (8,539) � -------- -------- ------ DEFICIENCY OF REVENUES OVER EXPEND- ITURES AND OTHER FINANCING USES $(241,251) $(241,998) $ (747) � � _ � � � � � � � � � 35 � � � City of Cape Girardeau, Missouri DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Taxes and special assessments $ 14,032 $ 15,108 $1,076 Interest 777 1,081 304 � 14,809 16,189 1,380 EXPENDITURES General government 70 133 (63) ---;--- ---;--- ----- I� EXCESS OF REVENUES OVER EXPENDITURES 14 739 16 056 1,317 OTHER FINANCING USES I� Operating transfers out (30=000) (30,000) -_=_- DEFICIENCY OF REVENUES OVER EXPENDITURES AND OTHER FINANCING ,� USES $(15,261) $(13,944) $1,317 � � � � � � � � � � � 36 � � � City of Cape Girardeau, Missouri PARKS AND RECREATION SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL ,� Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Interest $ 5,534 $ 6,108 $ 574 Fees and service charges 90,800 89,085 (1,715) Intergovernmental 2,197 2,196 (1) --------- -----;--- ------ 98,531 97 389 (1,142) EXPENDITURES � Culture and recreation 978,230 __946,974 31,256 ------- ------ DEFICIENCY OF REVENUES OVER � EXPENDITURES (879,699) (849,585) 30,114 OTHER FINANCING SOURCES (USES) Operating transfers in 956,779 956,779 - � Operating transfers out (72,000) (72,000 - --------- ---------) ------ 884,779 884,779 - � EXCESS OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES $ 5,080 $ 35,194 $30,114 � � � � � � � � � 37 � � City of Cape Girardeau, Missouri � HEALTH SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Taxes and special assessments $ 83,085 $ 84,780 $1,695 Interest 1,893 2,290 397 Intergoverrunental 3,162 3,174 12 � 88,140 90,244 2,104 EXPENDITURES � Health 107,925 102,049 5,876 � DEFICIENCY OF REVENUES OVER EXPENDITiJRES (19,785) (11,805) 7,980 OTHER FINANCING SOURCES (USES) � Operating transfers in 30,137 30,137 = Operating transfers out (15,000) (15,000) 15,137 15,137 - � EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER � EXPENDITURES $ (4,648) $ 3,332 $7,98p � � � � � � � � � � 38 � � � City of Cape Girardeau, Missouri ' MOTOR FUEL TAX SPECIAL REVENUE FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL ,� Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES �� Interest $ 25,697 $ 52,072 $26,375 Intergovernmental 570,000 609,682 39,682 595,697 661,754 66,057 � EXPENDITURES Highways and streets 5,534 5,534 - � -------- -------- ------ EXCESS OF REVENUES OVER EXPENDITURES 590,163 656,220 66,057 � OTHER FINANCING USES Operating transfers out (912,879) (912,879) - -------- -------- ------ � DEFICIENCY OF REVENUES OVER EXPENDI- TURES AND OTHER FINANCING USES $(322,716) $(256,659) $66,057 � � - � � � � � � � � � 39 � � � City of Cape Girardeau, Missouri 1984 PUBLIC BUILDING BONDS FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL j. Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Taxes and special assessments $ 201,546 $ 211,858 $ 10,312 � Interest 3,422 5,282 1,860 Intergovernmental - 7,709 7,709 ----;--- ----;--- ------- h. 204 968 224 849 19,881 EXPENDITURES � Debt service Principal retirement 115,000 115,000 - Interest and fiscal charges 602,810 498,532 104,278 � 717,810 613,532 104,278 -------- -------- ------- DEFICIENCY OF REVENUES OVER � EXPENDITURES (512,842) (388,683) 124,159 OTHER FINANCING SOURCES (USES) � Operating transfers in 765,714 765,714 - Operating transfers out (18,289) (18,289) � EXCESS OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $ 252,872 $ 358,742 $105,870 � �a � � � � � � � 40 � � � � N � v1 v1 1 O II f�1 I� 1 O II .a �6 n v i � '� '"� h I �. i� �tl la.pa I � F � v m � i �1 II � ti i .� 1 i � 11 � � � �I � N y 1 .� II � � � C n N v'O � i ef H rn a i of il w d y � i � II � � i � '� a o�` a ' � !��' " � ~p, � � y " y � I aD II E � I ~ I� H v1 Y1 I � � 7 N N i � � II W N W N N j � N � � I I II � � N I � II N 1 � II � � m v1 ,o � •� fl o e��f i a j C9 u�d rn v � v �� Q � � v ef i a0 �1 of i a? 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O. f� a PG 01 7l 4� � ',p �� w o �i''8' �wo � � � � o o � o � �, , � � "� o n � �, � a rn �.�i i v�i eE �0 .-� �o r. i ' ' � C ao n F Q O �1 � � � � � i .N-i •i � � .r 1 N t i " � � .� 1 � v .�.i � � y ^ ^ � � II C cn n i �o �c i II � N .T I t� n � N l� 'd � � � O� O� 1 �� Z U � e1 01 I 1� 1� � j � I� � N � W .ti N � � � �I y � �' I 'i rl i � W � � � � C�. j '1 v � 0 v? � V � � " °` "�' - � u � � � � � � � �tl 7�i'1i ~ N ; O� O� i II � � � � � � 1 1 I II � Ow � " I v � ' B � U H � � � n � s i a l � i � w v C � � � i i � � � II a ow v> ' " i n' i` �o i �n u � � a fi M � w � � U � q � Y 'C 00 1 Y �t �0 � v � �v � � �� a r+ w � ' ' � „.i � i � i i � � � � z y � N (�r� f� y " oza � wy .� „ � � W o O A 7 i M i m a �o i n II �o i �n II � lE fA C'J t+1 1 T I 1'�1 A 01 F U 1+ L*1 P � 1� � � � �-1 I N � I T ~ v � U GI td 'W7 U � � � 1+ O '7 y N M .+ aw v c� aov v � �� a�i a+ m .� i .� o � a I�1 U M �J' C� J.� 'O v 1 v 0�1 I V�j fi w 6 v C r� i i i . � fl �� y � w �j � W y � .-1 I 'i M N � � +1 U S, 7. N � �I ..C,1 �O rl 1 N � 1 r/ N N 1 O � � � U D H �+ '�? � v � I GI U 'V 1� O 1 n � 1 s � N I �.d 1.� n �-1 I �D �? 1 N �-�i Y H W ? v i N N i .� U C'. � j ' M v I O N � U � � 'd � � Np. � � R IC m 'a W YI � 7 ro a y � U T W N � W A y� W O C.' � 00 a�+ pp Iui v q b "a N "� � O � ..�"1 'Vd, � N � W O W W d � O L pc^� � O V 00 N 'U � A U C ? 01 W •.[i N N +� U O A N a�i a ..�i a, � o�E 'd b O W y.� f„ L' U ••yi G � �A W 'Cf W �d tvj � C. .r v ol L'. N W .-�i A 1.�.� � .�-� e1 N m GI F�i .-�i A q "��.n A U U U O +� A � o a b � a" w b w � � i � � City of Cape Girardeau, Missouri MULTI-USE CENTER CONSTRUCTION FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Bud� Actual (Unfavorable) REVENUES � Interest $ 181,000 $ 143,456 $(37,544) EXPENDITURES � Capital projects 3,312,552 3,060,592 251,960 DEFICIENCY OF REVENUES OVER � EXPENDITURES (3,131,552) (2,917,136) 214,416 OTHER FINANCING SOURCES (USES) � Operating transfers in _ 18�289 18�289 Operating transfers out (345,714) (345,714) ---------- ---------- ------- (345,714) (327,425) 18,289 � ---------- ---------- ------- EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER � EXPENDITURES AND OTHER FINANCING USES $(3,477,266) $(3,244,561) $232,705 �� 44 � � � City of Cape Girardeau, Missouri FAU STREET GRANTS FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Intergovernmental $ 617,304 $ 640,405 $ 23 101 , EXPENDITURES � Capital projects 830,386 854,334 (23,948) DEFICIENCY OF REVENUES OVER EXPENDITURES (213,082) (213,929) (847) � OTHER FINANCING SOURCES Operating transfers in 227,879 227,879 - � -------- -------- ------- EXCESS OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITiJRES $ 14,797 $ 13,950 $ (g47) � �— � � � � � � � '� � ''� � 45 � � � City of Cape Girardeau, Missouri COMMUNITY DEVELOPMENT BLOCK GRANT FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Intergovernmental $256,477 $196,027 $(60,450) EXPENDITURES Capital projects 243,542 191,061 52,481 � ------- ------- ------- EXCESS OF REVENUES OVER EXPENDITURES $ 12,935 $ 4,966 $ (7,969) � � ---_ � � � � � � � � �� 46 � � � City of Cape Girardeau, Missouri PARK GRANTS FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable REVENUES — Budget Actual �Unfavorable) � Intergovernmental $ 66,800 $ 66,800 $ _ EXPENDITURES � Capital projects 162,251 164,848 _-____ (2,597) DEFICIENCY OF REVENUES OVER EXPENDITi7RES (95,451) (98,048) (2,597) !1 OTHER FINANCING SOURCES Operating transfers in 95,451 98,126 2,675 � ------- ------- EXCESS OF REVENUES AND OTHER � FINANCING SOURCES OVER EXPENDITURES $ _ $ �8 $ �$ ��_ � � � � � � � � � � 1 47 � ,� � City of Cape Girardeau, Missouri PARK IMPROVEMENTS FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) EXPENDITURES � Capital projects $26,000 $23,680 $2,320 OTHER FINANCING SOURCES � Operating transfers in 85,000 90,864 5,864 R ------ ------ ----- EXCESS OF OTHER FINANCING SOURCES � OVER EXPENDITURES $59,000 $67,184 $8,184 � � � � �� 48 � � � City of Cape Girardeau, Missouri SPECIAL ASSESSMENTS - STREETS FUND BALANCE SHEET � June 30, 1987 ASSETS � Cash and investments $122,125 � Special assessments 111,957 Interest 2,764 � $236,846 � LIABILITIES � Fund balance Unreserved $236,846 � ------- $236,846 �� 1 i I � 49 � � City of Cape Girardeau, Missouri SPECIAL ASSESSMENTS - STREETS FUND STATEMENT OF REVENUES AND EXPENDITURES - BUDGET (GAAP BASIS) AND ACTUAL � Year ended June 30, 1987 � Variance - Favorable Budget Actual (Unfavorable) REVENUES � Special assessments $ 55,035 $ - $(55,035) Interest 21,000 22,940 1,940 � 76,035 22,940 (53,095) EXPENDITURES Principal 173,000 173,000 - � Interest 16,000 11,803 4,197 189,000 184,803 4,197 � DEFICIENCY OF REVENUES OVER EXPENDITURES (112,965) (161,863) (48,898) � OTHER FINANCING SOURCES Operating transfers in 175,000 175,000 - � EXCESS OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES $ 62,035 $ 13,137 $(48,898) �� 50 1 � � City of Cape Girardeau, Missouri SPECIAL ASSESSMENTS - STREET FUND COMBINING STATEMENT OF CHANGES IN FUND BALANCE Year ended June 30, 1987 � Downtown � Street Business Totals Assessment District (Memorandum Fund Fund Onl�_ � Fund balance at beginning of year - cash basis $ 46,923 $ 18,025 $ 64,948 � Adjustment to convert to accrual basis (note A2) 176,786 (1,497) 175,289 Fund balance at beginning of year - �` accrual basis 223,709 16,528 240,237 � Reclassify type of fund - (16,528) (16,528) Excess of revenues and other financing sources over expendi- � tures and other financing uses 13,137 - _13,137 � Fund balance at end of year $236 846 $ -- $236,846 � �� ,� � � � � � ! 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U W W T7 W F W q � a z o W v O� 1� 1 N �O Cp I �O �E W ll'O O �T V1 1 rl I� !+1 I N I � z ro z � °� ao o � .1 a a i o I � - i w � w d w o ,� �n � o n �n i ao i O .1+ VJ rl G� aD I O O �/1 1 �O I 'i� H •� ef s i N ey v � f� II � H v T I 0p .-1 1 T N � � � A U V1 V) y z H z M � O i ' H A � � � W „ � � q I +1 pp y b A 'a k� T W � O 'r .a a� +a y�i W �y e�i d C�1 ro O 11 �N A O y � a � a a a � q u° ..xi u a � W H 'd �.Ui '� � U ai C O 'O V b A O d � Q v � � U N oi N .. q �C. u u �� W A C. j+ M N q N O v � o`0i a-+i u a a�i a�i '� y v � � C.0 7 C 7 C �i � � � .a y �..+� ,a u q ..�i ..�i u o 6 < u ro c�i a+ u a a" z a � � � City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET June 30, 1987 � Data Fleet Totals � Processing Management (Memorandum Fund Fund Onl�_ ASSETS � Cash and investments $ 54,387 $174,114 $ 228,501 Interest receivable 1,378 4,133 5,511 � Restricted cash and investments = 192,988 192,988 Prepaid insurance 40,195 40,195 55,765 411,430 467,195 � Property, plant and equipment Land - 37,500 37,500 � Buildings - 337,500 337,500 Equipment 455,064 93,210 548,274 455,064 468,210 923,274 � Less accumulated depreciation 51,095 101,666 152,761 � 403,969 366,544 __770,513 � $459,734 $777,974 $1,237,708 � � i � LIABILITIES Accounts payable $ 22,458 $ 78,575 $ 101,033 Accrued liabilities � Payroll taxes and fringe benefits 1,081 7,491 8,572 Retained earnings � Reserved - 192,988 192,988 Unreserved 436,195 498,920 935,115 436,195 691,908 1,128,103 � ------- ------- --------- $459,734 $777,974 $1,237,708 � -� �� 55 � � City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENSES � Year ended June 30, 1987 Data Fleet Totals � Processing Management (Memorandum Fund Fund Onlv) OPERATING REVENUES � Fee charges $235_977 $ 937 964 $1,173,941 Sale of property � � 81 81 Interest 2,400 17,338 19,738 Miscellaneous - 14,154 14,154 � ------- --------- --------- 238,377 969,537 1,207,914 � OPERATING EXPENSES Personal services 44,034 237,587 281,621 General operations 10,671 317,710 328,381 Contractual services 214,673 270,955 485,628 � Capital outlay - 656,226 656,226 Depreciation 42,939 18,619 61,558 ------- --------- --------- � 312=317 1,501,097 1=813,414 LOSS BEFORE OPERATING TRANSFERS (73,940) (531,560) (605,500) � OPERATING TRANSFERS IN 114,500 785,914 900,414 ------- --------- --------- � NET INCOME (LOSS) $ 40,560 $ 254,354 $ 294,914 � � � � ( ( I f � 56 � � City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CHANGES IN RETAINED EARNINGS � Year ended June 30, 1987 � Data Fleet Totals Processing Management (Memorandum Fund Fund Onlv) � Retained earnings at beginning of year - cash basis $130,900 $118,348 $ 249,248 � Adjustments to convert to accrual basis (note A2) (10,006) (57,016) (67 022) Adjustments to record fixed ' � assets (note A3) 274,741 376,222 __650,963 Retained earnings at beginning of � year - accrual basis 395,635 437,554 833,189 Net income (loss) 40,560 254,354 294,914 � Retained earnings at end of year $436,195 $691,908 $1,128 103 , � � �� 57 � � City of Cape Girardeau, Missouri TRUST AND AGENCY FUNDS COMBINING BALANCE SHEET � June 30, 1987 Flood Totals � Library Protection (Memorandum Fund Fund Onl �� ASSETS Cash and investments $245,064 $ - $245,064 � Taxes receivable (net of allowance - for doubtful receivables) 18 198 18,198 � � Interest receivable 5,595 1,722 7,317 Restricted cash and investments 3,227 58,660 61,887 � $272,084 $60,382 332 466 $ � � � � � LIABILITIES Accounts payable $ g�629 $ _ $ 8�629 � Accrued liabilities Payroll taxes and fringe benefits 4,824 - 4,824 � Fund balance Reserved 3,227 58,660 61,887 Unreserved 255,404 1,722 257,126 � 258,631 60,382 319,013 � $272,084 $60,382 $332,466 �� 58 � � City of Cape Girardeau, Missouri TRUST AND AGENCY FUNDS COMBINING STATEMENT OF REVENUES AND EXPENSES � Year ended June 30, 1987 Flood Totals � Library Protection (Memorandum Fund Fund Onl,�_ REVENUES � Taxes and special assessments $292,768 $ _ $292,768 Fees and service charges 8,431 8,431 Interest 15,702 1,722 17,424 Intergovernmental 25,193 - 25,193 � Fines and forfeitures 9,823 - 9,823 Miscellaneous 23,329 58,660 81,989 375,246 60,382 435,628 � EXPENSES Personal services 189,373 - 189,373 � General operations 85,968 = 85,968 Contractual services 52,682 52,682 Capital outlay 2�2 _ 2�2 � 328,295 ------ 328,295 ------- ------ ------- EXCESS OF REVENUES OVER � EXPENDITtJRES $ 46,951 $60,382 $107,333 � �� ! 59 ! � � � � � � � SUPPLEMENTAL INFORMATION � � � � � � � � � � I 60 I � KERBER, ECK & BRAECKEL � CERTIFIED PUBLIC ACCOUNTANTS 1221 BROADWAY OFFlCES IN CAPE GIRARDEAU.MISSOURI 63701 MEMBERS AMERICAN � CAPE GIRARD6AU,MISSOURI INSTITUTE OF CERTIFIED ST.LOUIS,MISSOURI PUBLIC ACCOUNTANTS KANSAS CITY.MISSOURI SPRINGFIELD,ILLINOIS MILWAUKEE.WISCONSIN 3�¢334�568 � WASHIIYGTON.D.C. � REPORT ON INTERNAL ACCOUNTING CONTROLS BASED SOLELY � ON A STUDY AND EVALUATION MADE AS A PART OF AN EXAMINATION OF THE GENERAL PURPOSE FINANCIAL STATEMENTS � Honorable Mayor and Member of the City Council City of Cape Girardeau, Missouri � We have examined the general purpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1987, and have issued our report � thereon dated September 24, 1987. As part of our examination, we made a study and evaluation of the system of internal accounting control to the extent we considered necessary to evaluate the system as required by generally accepted auditing standards and the standards for financial compliance audits contained � in the U.S. General Accounting Office Standards for Audit of Governmental Organizations. Programs Activities and Functions. For the purpose of this report, we have classified the significant internal accounting controls in the � following categories: General � Petty cash Bank accounts Cash receipts Cash disbursements � Investments Revenues and receivables Property and equipment � Purchasing, receiving and accounts payable Payrolls Budget � Electronic data processing Our study included all of the control categories listed above. The purpose of our study and evaluation was to determine the nature, timing, and extent of the � auditing procedures necessary for expressing an opinion on the City's financial statements. Our study and evaluation was more limited than would be necessary to express an opinion on the system of internal accounting control taken as a � whole or on any of the categories of controls identified above. The management of the City of Cape Girardeau, Missouri is responsible for � establishing and maintaining a system of internal accounting control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of a system are to provide management with � reasonable, but not absolute, assurance that assets are safeguarded against loss 61 I � � REPORT ON INTERNAL ACCOUNTING CONTROLS BASED SOLELY ON A STUDY AND EVALUATION MADE AS A PART OF AN EXAMINATION OF THE GENERAL PURPOSE FINANCIAL STATEMENTS - CONTINUED � from unauthorized use or disposition, and that transact" ions are executed in accordance with management's authorization and recorded properly to permit the � preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any system of internal accounting control, errors or irregularities may nevertheless occur and � not be detected. Also, projection of any evaluation of the system to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate. � Our study and evaluation made for the limited ur ose de p p scribed in the first paragraph would not necessarily disclose all material weaknesses in the system. � Accordingly, we do not express an opinion on the system of internal accounting control, taken as a whole or on any of the categories of controls identified in the first paragraph. However, our study and evaluation disclosed no condition � that we believe to be a material weakness. These conditions were considered in determining the nature, timing, and extent of the audit tests to be applied in our examination of the 1987 financial state- � ments, and this report does not affect our report on the financial statements dated September 24, 1987. � This report is intended solely for the use of management and the cognizant audit agency, and other Federal audit agencies, and should not be used for any other purpose. This restriction is not intended to limit the distribution of � this report which, upon acceptance by the City of Cape Girardeau, Missouri is a matter of public record. � ��-, �� I Cape Girardeau, Missouri � September 24, 1987 I 62 � � � KERBER, ECK & BRAECKEL � CERTIFIED PUBLIC ACCOUNTANTS 1221 BROADWAY OF'F�CES�N CAPE G(RARDEAU, MISSOURI 63701 MEMBERS nMERICnrv � CAPE GIRARDEAU.MISSOURI INSTI'NTE OF CERTIFIED ST.LOUIS,MISSOURI PUBLIC ACCOUNTANTS KANSAS CITY,MISSOURI SPRINGFIELD,ILLINOIS 3143340568 MILWAUKEE.WISCONSIN � WASHINGTON.D.C. REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS BASED ON AN � EXAMINATION OF GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH THE STANDARDS FOR AUDIT ISSUED BY THE GAO � Honorable Mayor and Members of the City Council � City of Cape Girardeau, Missouri We have examined the general purpose financial statements of the City of Cape � Girardeau, Missouri for the year ended June 30, 1987, and have issued our report thereon dated September 24, 1987. Our examination was made in accordance with generally accepted auditing standards and the standards for financial and compliance audits contained in the Standards for Audit of Governmental � Or�anizations. Programs Activities and Functions, issued by the U.S. General Accounting Office and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the � circumstances. The management of the City of Cape Girardeau, Missouri is responsible for � compliance with laws and regulations. In connection with our examination referred to above, we selected and tested transactions and records to determine the City's compliance with laws and regulations, noncompliance with which could have a material effect on the general purpose financial statements. � The results of our tests indicate that for the items tested, the City of Cape Girardeau, Missouri complied with those provisions of the laws and regulations � noncompliance with which could have a material effect on the general purpose financial statements. Nothing came to our attention that caused us to believe that for the items not tested the City of Cape Girardeau, Missouri was not in � compliance with laws or regulations, noncompliance with which could have a material effect on the general purpose financial statements. � �� ih._ ��.�i•-e— � , � Ca e Girardeau Missouri P , � September 24, 1987 ! 63 I � KERBER, ECK & BRAECKEL � CERTIFIED PUBLIC ACCOUNTANTS 1221 BROADWAY OFFICES IN CAPE GIRARDEAU,MISSOURI 63701 MEMBERS AMERICAN � CAPE GIRARDEAU.MISSOURI INSTITUTE OF CERTIFIED ST.LOUIS,MISSOURI PUBLIC ACCOUNTANTS KANSAS CI7'Y,MtSSOIJRI SPRINGFIELD.I LLINOIS MILWAUKEE,WISCONSIN 314334-0568 � WASHINGTON,D.C. REPORT ON STATEMENT OF FEDERAL FINANCIAL ASSISTANCE � Honorable Mayor and Members of the � City Council City of Cape Girardeau, Missouri � We have examined the general purpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1987, and have issued our report thereon dated September 24, 1987. Our examination of such general purpose � financial statements was made in accordance with generally accepted auditing standards and the standards for financial and compliance audits contained in the Standards for Audit of Governmental Or anizations Pro rams Activities and Functions, issued by the U.S. General Accounting Office and, accordingly, � included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. � Our examination was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The accompanying Statement of Federal Financial Assistance is presented for purposes of additional analysis � and is not a required part of the general purpose financial statements. The information in that schedule has been subjected to the auditing procedures applied in the examination of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the � general purpose financial statements taken as a whole. � �� Ca e Girardeau Missou ' P , ri � September 24, 1987 ( 64 � � � va � � '"� I� �r1 .i �O n 1 N n cn c0 a n rn r1 t+f � a0 N 00 r1 N OD I a0 � O 1 � n v v j � ri vl T V1 OD T O �O I O� v I �0 HI I v �D 1� O� v N �/1 �O I O� � I v v v N CD O� I 1� � � � � � N � � � N N l� W � N � N a a �/1 �O a0 i � c+�i a v1 n N O of i O W �.�1 � N N �1 1 1 1 p 'y O� t+f �O I O� � i I i N a0 .ti v a i tn T O �7 ri I V1 e-1 .-1 ^ 1 A y v1 N j a 'p N n t�+1 n i � N 'i .a tn v i .ti y I � '� W V} � I �-i � Q q � �T �O V O� 1 .t 00 .� O v7 N .-1 N f�1 N N 1 �O a� t�f P t+1 N Pf t+1 .-1 I� O� O� .i 1 1� � N I� e�f O I �7 o O� V OD �O �-I CO .-1 O f�f I a0 � � ^ ^ ' 1 I . . . . . . . . . . I . 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H u0000 ro � c� x % � oo o�'i {�i H � '° N °°,.,'° „� °" a+ a, �, �a < � � � aoo m a uoo � � '� Li M C4 T 01 O� N I I ..1 �0 00 v v 1: 00 "../' L] L� O N O i+ .i Q L� O O O ai F N N N G �O I� .7J f, O GO �/1 1� F � � C 1 C I C I O F Ci I r� M W C 1 1 I � � F 1/ rl O w 7 w 'b "a d0 vo do -+ 6z w a q aen �o �o ..� ..� ain �n C w ++ EU E2 2w u tll N b ro � aa � a � a � a�, a � o ,� -+ dvvbv � uu � o e '" '� o b �e .e o v orn o � o �o No o �o w g o ..� ., ..� ..� o a q o a �esT a W rn m m@.a a0 .-+ a0 .-r a0 •.� .1.-r a0 u o'd ,+ < a < e m ,a ..a m � C9 p u N 4'� A a d d d �I O d r" a� N O O N O U }.1 I 1 (�' l� H 71 .� +� O D •• 9 •• D ••.� T D •- W oi � Y � a.� ai •.� fY CL +� U 1 � y � O y m ,F,.-i 71 CD W t�f YI �O J�N CI af 6 {'. q 7� C � C q .'E?G .M ',� u'1 a� ai Y 7/ C � Y Ll �O CI O Cl �O l0 I Cl O N ld O fA Q� 71 Y 01 U U +i O'O (.' C. N a .c a, o ,e > � � � .e c> � u ,� ,� e e e e .e a� v .� x o .+ n ro w � > a� eov �.a �.ao.ady �s ro Huoaaaa m.c.e eo roxaHM �e w � w d 7a u �n a+ oo uoa i uo a a .. o 0 0 0 7c� c� y ue+ � c� c> a c9 w eo x w o ..r o •.+ o ..+.�, v ..�.y w w ..a w .a.r.a.� o o a ao� y 0 0 o u o i i i .a ao C i a o >w d u ar d r+ �, � u d o .� �a a a o .a N.r .0 ..� � � � � � < �tl i 7 Q Q �tl > D > > .� u u .G E .a i r+ D D �t �.+ W A u u E Q G1 Ll u W E O • a+ w d v N a7 u y al u u.a O a� 6 C I F+ C'. M C'. O U V U G iR E U tA (,".a F O Ll C] C] •.� ,a F�.!] �'S7 W f+� M Cl W Y Y 71 'd A O O L O 'b @ U'O E W O D U U R: U 'J 6 M l+ ta N 1+ H W A A d p,p� W � W 6� 1+ W 4/ m W N W +1 +1 ..1 +1 ..r N O O m W a �� < aaea � v� � � o ,� aQ oa E°+ Qw a w itl u 0 F � � � � a � � �'" ^ � � � n '� � o i o i ..+ o . i � � v M i �O I � O I O� I � � ' � f 1 f'f � � N M 4� L t'r 1+ d EN a °' � � � � � ^ N 1 r1 � I '� 11 �'. rl � 1 O1 � � m rl 1 rl � � W 1 . " � N u p N � N +i O q � O 1 h I' '� A � 1 Y� u � � I oe ^ '�° � °��° ° d � � i .�+ N N � � � � C � I .� N z �e ; � � H .� o i i i H � � i u1 I� � U � � � I� � � � ++ Cq �+ U 7 � O w H w N b £ y � Z 3 �n o i j) � aa a r+ � '� � i i � � � ud � � o �o � � I � 1�+ U � ld 'I. O � S1 6 c+f N +� Z' � C� M y ka C d 7 �� O i: O W 'O W E a �� w V Z h .i -+ O � V F z � F 6 y H y � � U +� O N N W 71 fA a .-1 .d M � � � F 'Aj t�y w a � z � o 0 0 � � � '� E cWi � o p,°gD p,..°� � F � N L] b v� � I +� 00 +� � y � a ar ° �' o ° o o � f+ ..�i +�i 0 H ..ni V ,.�.� q O N .� ..� u 'F, Ho (�7 Iw y � � ~ 7 3 N W � o °u w o a°+v � o ra. q � u � +' a � F. � b E d .6i ar'd'V 1+ w w � ci � aa � aa aa m m a a I � KERBER, ECK & BRAECKEL � CERTIFIED PUBLIC ACCOUNTANTS 1221 BROADWAY OFFICES IN CAPE GIRARDEAU,MISSOURI 63701 MEMBERS AMERICAIY � CAPE GIRARDEAU,MISSOURI INSTI'NTE OF CERTIFIED ST.LOUIS.MISSOURI PUBLIC ACCOUNTANTS KANSAS CITY,MISSOURI SPRINGFIELD,lLLINOIS - MILWAUKEE.WISCONSIN 3�4"334�S6g � WASHINGTON.D.C. � REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS RELATED TO MAJOR AND � NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS � Honorable Mayor and Members of the � City Council City of Cape Girardeau, Missouri � We have examined the general purpose financial statements of the City of Cape Girardeau, Missouri, for the year ended June 30, 1987, and have issued our � report thereon dated September 24, 1987. Our examination was made in accordance ;, with generally accepted auditing standards; the standards for financial and �� compliance audits contained in the Standards for Audit of Governmental Or�anizations. Pro�rams Activities and Functions issued by the U.S. General � Accounting Office; the Single Audit Act of 1984; and the provisions of OMB Circular A-128, Audits of State and Local Governments and, accordingly, included such tests of the accounting records and such other auditing procedures � as we considered necessary in the circumstances. The management of the City of Cape Girardeau, Missouri, is responsible for the � City's compliance with laws and regulations. In connection with the examination referred to above, we selected and tested transactions and records from each major Federal financial assistance program and certain nonmajor Federal financial assistance programs. The purpose of our testing of transactions and records � from those Federal financial assistance programs was to obtain reasonable assurance that the City of Cape Girardeau, Missouri, had, in all material respects, administered major programs and executed the tested nonmajor program � transactions, in compliance with laws and regulations, including those pertaining to financial reports and claims for advances and reimbursements, noncompliance with which we believe could have a material effect on the � allowability of program expenditures. Our testing of transactions and records selected from major Federal financial assistance programs disclosed no instances of noncompliance with those laws and � regulations. In our opinion, for the year ended June 30, 1987, the City of Cape Girardeau, ( Missouri, administered its major Federal financial assistance programs in compliance, in all material respects, with laws and regulations, including those pertaining to financial reports and claims for advances and reimbursements, ` noncompliance with which we believe could have a material effect on the Iallowability of program expenditures. � 67 ( � REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS RELATED TO MAJOR AND � NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED � The results of our tests indicate that for the transactions and records tested the City of Cape Girardeau, Missouri, complied with the laws and regulations � referred to above. Our testing was more limited than would be necessary to express an opinion on whether the City of Cape Girardeau, Missouri, administered those programs in compliance, in all material respects, with laws and regulations noncompliance with which we believe could have a material � effect on the allowability of program expenditures; however, with respect to the transactions that were not tested by us, nothing came to our attention to indicate that the City of Cape Girardeau, Missouri, violated laws and � regulations. � ��J 2�t.C�-t �� -�o��C.� � � � � � � � � � � Cape Girardeau, Missouri September 24, 1987 � � 68 � � KERBER, ECK & BRAECKEL � CERTIFIED PUBLIC ACCOUNTANTS 1221 BROADWAY OFFICES IN CAPE GIRARDEAU,MISSOURI 63701 MEMBERS AMERICAN � CAPE GtRARDEAU.MISSOURI INSTITUTE OF CERTIFIED ST.LOUIS,MISSOURI PUBLIC.1CCOUNTANTS KANSAS C1TY,MISSOURI SPRINGFlELD.ILLINOIS 314-334-0568 MILWAUKEE,WISCONSIN � WASHINGTON.D.C. REPORT ON INTERNAL CONTROLS (ACCOUNTING AND ADMINISTRATIVE) - BASED � ON A STUDY AND EVALUATION MADE AS A PART OF AN EXAMINATION OF THE GENERAL PURPOSE FINANCIAL STATEMENTS AND THE ADDITIONAL TESTS REQUIRED BY THE SINGLE AUDIT ACT � Honorable Mayor and Members of the City Council � City of Cape Girardeau, Missouri We have examined the general purpose financial statements of the City of Cape � Girardeau, Missouri, for the year ended June 30, 1987, and have issued our report thereon dated September 24, 1987. As part of our examination, we made a study and evaluation of the internal control systems, including applicable internal administrative controls, used in administering Federal financial � assistance programs to the extent we considered necessary to evaluate the systems as required by generally accepted auditing standards, the standards for financial and compliance audits contained in the Standards for Audit of � Governmental Organizations. Protzrams Activities and Functions, issued by the U.S. General Accounting Office, the Single Audit Act of 1984, and the provisions of OMB Circular A-128, Audits of State and Local Governrnent. For the purpose of � this report, we have classified the significant internal accounting and administrative controls used in administering Federal financial assistance programs in the following categories. � 1. Cycles of the Entities' Activity Treasury or financing Revenue/receipts � Purchases/disbursements External financial reporting 2. Financial Statement Captions � Cash and cash equivalents Receivables Inventory � Property and equipment Payables and accrued liabilities Debt � Fund balance 3. Accounting Applications � Billings Receivables Cash receipts Purchasing and receiving � Accounts payable 69 � � � REPORT ON INTERNAL CONTROLS (ACCOUNTING AND ADMINISTRATIVE) - BASED ON A STUDY AND EVALUATION MADE AS A PART OF AN EXAMINATION OF THE GENERAL PURPOSE FINANCIAL STATEMENTS AND THE ADDITIONAL TESTS REQUIRED BY THE SINGLE AUDIT ACT - CONTINUED � 3. Accounting Applications - continued � Cash disbursements Payroll Inventory control � Property and equipment General ledger 4. Major Federal Assistance Programs � Eligibility Types of services Matching level of effort � Reporting The management of the City of Cape Girardeau, Missouri, is responsible for � establishing and maintaining internal control systems used in administering Federal financial assistance programs. In fulfilling that responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal � control systems used in administering Federal financial assistance programs are to provide management with reasonable, but not absolute, assurance that, with respect to Federal financial assistance programs, resource use is consistent � with laws, regulations and policies; resources are safeguarded against waste, loss and misuse; and reliable data are obtained, maintained and fairly disclosed in reports. � Because of inherent limitations in any system of internal accounting and administrative controls used in administering Federal financial assistance programs, errors or irregularities may nevertheless occur and not be detected. � Also, projection of any evaluation of the systems to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate. � Our study included all of the applicable control categories listed above. During the year ended June 30, 1987, the City of Cape Girardeau, Missouri, � expended 24$ of its total Federal financial assistance under major Federal financial assistance programs. With respect to internal control systems used in administering these major � Federal financial assistance programs, our study and evaluation included considering the types of errors and irregularities that could occur, determining the internal control procedures that should prevent or detect such errors and � irregularities, determining whether the necessary procedures are prescribed and are being followed satisfactorily, and evaluating any weaknesses. � With respect to the internal control systems used solely in administering the other nonmajor Federal financial assistance programs of the City of Cape Girardeau, Missouri, our study and evaluation was limited to a preliminary review of the systems to obtain an understanding of the control environment and � 70 � � REPORT ON INTERNAL CONTROLS (ACCOUNTING AND ADMINISTRATIVE) - BASED � ON A STUDY AND EVALUATION MADE AS A PART OF AN EXAMINATION OF THE GENERAL PURPOSE FINANCIAL STATEMENTS AND THE ADDITIONAL TESTS REQUIRED BY THE SINGLE AUDIT ACT - CONTINUED � the flow of transactions through the accounting system. Our study and � evaluation of the internal control systems used solely in administering these nonmajor Federal financial assistance programs of the City of Cape Girardeau, Missouri, did not extend beyond this preliminary review phase. � Our study and evaluation was more limited than would be necessary to express an opinion on the internal control systems used in administering the Federal financial assistance programs of the City of Cape Girardeau, Missouri. � Accordingly, we do not express an opinion on the internal control systems used in administering the Federal financial assistance programs of the City of Cape Girardeau, Missouri. � Also, our examination, made in accordance with the standards mentioned above, would not necessarily disclose material weaknesses in the internal control systems, for which our study and evaluation was limited to a preliminary review � of the systems. However, our study and evaluation and our examination disclosed no condition � that we believe would result in more than a relatively low risk that errors or irregularities in amounts that would be material to a Federal financial assistance program may occur and not be detected within a timely period. � These conditions were considered in determining the nature, timing, and extent of the audit tests to be applied in (1) our examination of the June 30, 1987 general purpose financial statements and (2) our examination and review of the � City's compliance with laws and regulations, noncompliance with which we believe could have a material effect on the allowability of program expenditures for each major Federal financial assistance program and nonmajor Federal financial � assistance programs. This report does not affect our reports on the general purpose financial statements and on the City's compliance with laws and regulations dated September 24, 1987. � This report is intended solely for the use of management and the cognizant audit agency, and other Federal audit agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this � report, which, upon acceptance by the City of Cape Girardeau, Missouri is a matter of public record. � �� , � Cape Girardeau, Missouri September 24, 1987 � � 71 � f3 � o o a+ N y�i W N 'O W W I � d +� G O C. O /Vi C O� � tA U1 I .-1 H O -+ o -� o ao G� �n u d v � � O � O O O 41 N f1 '� N '.s O O � +1 O U 1 71 41 +� i.i a'1 M O O o .� O O M u a W +� d W U O O s o s � a+ o ++ v ++ o �.+ .+ > a .p VJ ri V] VJ C O q t0 N O U +� A .-1 O � N F+ �-1 �! 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