HomeMy WebLinkAbout1988-1989.AuditReport (2) �
KERBER, ECK & BRAECKEL
� CERTIFlED PUBLIC ACCOUNTAf�fI'S
1221 BROADWAY
OPFICES IN MEMBERS M/ERICAN
� CAPE G�RARDE�V� MISSOIJRi GPE GIRARDEAU, MISSOURI 63701 �N57TilIiE OF CER77FIED
ST. LOl11S. MISSOUR! PUBLIC ACCAUM'MTI'S
SPRINGFIELD. IWNOIS
MILWAUKEE. WISOONSiN 3143340568
� WASHWCTON. D.G
� INDF.PIIJDIIVT AUDIZ�ORS' REPORT ON OOMPLIANCE WITH
LAWS AND REGCTLATIONS BASID ON AN AUDIT OF
FINANCIAL STATII�ffiV'I5 PF��ORMED IN AOCORDANCE WITH
GOVERIVMIIV'T AUDITING STANDARDS ISSUID BY Tf� GAO
� Honorable Mayor and Members
of the City Council
� City of Cape Girardeau, Missouri
� We have audited the financial sta,tements of the City of Cape Girardeau,
Missouri as of and for the year ended June 30, 1989, and have issued our report
thereon dated September 15, 1989.
� We conducted our audit in accordance with generally accepted auditing standards
and Goverrvnent Auditin� 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.
� Compliance with laws, regulations, contracts, and grants applicable to the City
of Cape Girardeau, Missouri is the responsibility of the City of Ca.pe Girar-
deau's management. As part of obtaining reasonable assurance about whether the
� financial statements are free of material missta.tement, we performed tests of
the City of Cape Girardeau's compliance with certain provisions of laws, regu-
lations, contracts, and grants. However, it should be noted that our objective
was not to provide an opinion on overall compliance with such provisions.
� The results of our tests indicate that, with respect to the items tested, the
City of Cape Girardeau complied, in all material respects, with the provisions
� referred to in the preceding paragraph. With respect to items not tested,
nothing came to our attention that caused us to believe that the City of Cape
Girardeau had not complied, in all material respects, with those provisions.
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� INDEPII�iDENT AUDITORS' REPORT ON COMPLIANCE WITH
LAWS AND REGULATIONS BASID ON AN AUDIT OF
FINANCIAL STATII�IIV'I'S PERFORMID IN ACCORDANCE WITH
� GOVERNMII�IT AUDITING STANDARDS ISSUID BY T!-� GAO - CONTINUID
� This report is intended for the information of management. This restriction is
not intended to limit the distribution of this report, which is a matter of
public record.
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� Cape Girardeau, Missouri
September 15, 1989
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� KERBER, ECK & BRAECKEL
CERT7FIED PUBLIC ACCOUI�I'ANfi'S
1221 BROADWAY
�� � MEMBERS AMERICAN
� CAPE GIRARDE.AIJ. MISSOURI GPE GIRARDEAU, MISSOURI 63701 INS7l7tI1'E OF CEKTIFIED
ST. L.OIILS. MISSOURI PUBLIC ACCOUKTNVTS
SPRUVGFIEL�. U.LJNOIS
MILWAUKEE,WISCONSIN 314�34-0588
� WASHINGTON,D.G
� II�ID�F.�IDIIVT AUDITORS' REPORT ON COI�LIANCE WITH Ti� GII�iII?AI,
RDQiTIRII�VTS APPLICABLE TO MAJOR FIDII?AL FINANCIAL ASSISTANCE Pf�OGRAMS
� Honorable Ma.yor and Members
of the City Council
City of Cape Girardeau, Missouri
� We have a lied rocedures to test the Cit of Ca ' '
PP P y pe Girardea.u, Missouri s
compliance with the following requirements applicable to each of its ma.jor
� federal financial assistance programs, which are identified in the schedule of
federal financial assistance, for the year ended Jtme 30, 1989: political
activity, Davis-Bacon Act, civil rights, cash mana.gement and federal financial
� reports.
Our procedures were limited to those set forth in the Office of Management and
� Budget's ComAliance Sunplement for Sinr�le Audits of State and Loc,al
Governments. Our procedures were substantially less in scope than an audit,
the objective of which is the expression of an opinion on the City of Cape
Girardeau's compliance with the requirement listed in the preceding paragraph.
� Accordingly, we do not express such an opinion.
With respect to the items tested, the results of those procedures disclosed no
� material instances of noncompliance with the requirements listed in the first
paragraph of this report. With respect to items not tested, nothing came to
our attention that caused us to believe that the City of Cape Girardeau had not
� complied, in all material respects, with those requirements.
� This report is intended for the information of management. This restriction is
� not intended to limit the distribution of this report, which is a matter of
public record.
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Ca.pe Girardeau, Missouri
� September 15, 1989
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� KERBER, ECK & BRAECKEL
CER77FIED PUBLIC ACCOUNTANTS
1221 BROADWAY
OFFICES IN MEMBERS AMERICAN
� CAPH GIFiARDEAU. MISSOURI �E GIRARDEAU, MISSOURI 63701 INS7TRTIE OF CERTIFIED
ST. L.OUIS.MISSOURI PUBLIC ACCAUKI'M1TS
SPRINGFIELD.IIJ.INOIS
MILWAUKF.E, WISOpNSIN 3143340568
� WASHINCTON. D.G
� INDEPE[�IDIIVT AUDITOR.S' REPORT ON (70MPLIANCE WITH SPDCIFIC
RDQiJIRII�V'I5 APPLICABLE 'PO MAJOR FIDII?�,L FINANCIAL ASSISTANCE PROGRAMS
� Honorable Mayor and Members
of the City Council
City of Cape Giraxdeau, Missouri
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We have audited the City of Cape Girardea.u, Missouri s comp�iance with the
� requirements governing types of services allowed or unallowed; eligibility;
matching, level of effort, or earmarking; reporting; clairos for advances and
reimbursements; and amounts claimed or used for matching that are applicable to
each of its major federal financial assistance programs, which are identified
� in the accompanying schedule of federal financial assistance, for the year
ended June 30, 1989. The management of the City of Cape Girardeau is
responsible for the City's compliance with those requirements. Our
� responsibility is to express an opinion on compliance with those requirements
based on our audit.
We conducted our audit in accordance with generally accepted auditing stand-
� ards, Goverrunent Auditinr� Standards, issued by the Comptroller General of the
United States, and ONID Circular A-128, Audits of State and Local Governments.
Those standards and OI� Circular A-128 require that we plan and perform the
� audit to obtain reasonable assurance about whether material noncompliance with
the requirements referred to above occurred. An audit includes examining, on a
test bssis, evidence about the City's compliance with those requirements. We
� believe that our audit provides a reasonable basis for our opinion.
The results of our sudit procedures disclosed no instances of noncompliance
� with the requirements referred to above.
In our opinion, the City of Cape Girardeau, Missouri complied, in all material
respects, with the requirements governing types of services allowed or
� unallowed; eligibility; matching, level of effort, or eannarking; reporting;
claims for advances and reimbursements; and amounts claimed or used for
matching that are applicable to each of its major federal financial assistance
� programs for the year ended June 30, 1989.
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� Cape Girardeau, Missouri
September 15, 1989 �1
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� KERBER, ECK & BRAECKEL
CERTIFIED PUBLIC ACCOUNTANTS
1221 BROADWAY
OFFICES IN ME►NgEqS AMERICAN
CAPE GIRARDEAU. MISSpUp� GPE GIRARDEAU, MISSOURI 63701 INS7TRII'E OF CERTIFIED
� ST. L.Ol11S. MISSOURI PUBLIC ACCOUM'MtTS
SPRIIV(DRt6l�. IIJJ W OIS
MILWAUKEE, WISOONSIN 314334-0588
� WASHWGTON, D.G
� I1�IDII7II�IDF�1T AUDI'PORS' REE�ORT ON �LIANCE WI'IH R.�7QiJIRII�'N'IS
APPLICABLE 'P� NONMAJOR FIDF�tAL FINANCIAL ASSISTANCE PfZOGRAMS
� Honorable Ma.yor and Members
of the City Council
City of Cape Girardeau, Missouri
� In connection with our audit of the 1989 financial statements of the City of
Ca.pe Girardeau, Missouri, and with our study and evalua.tion of the City's
� internal control systems used to ac�ninister federal financial assistance
programs, as required by Office of Mana.gement and Budget Circular A-128, Audits
of Sta.te and Local Governments, we selected certain transactions applicable to
� certain nonmajor federal financial assistance programs for the yea.r ended June
30, 1989. As required by OI� Circular A-128, we have performed auditing
procedures to test compliance with the requirements governing types of services
allowed or unallowed and eligibility that are applicable to those transactions.
� Our procedures were substantially less in scope than an audit, the objective of
which is the expression of an opinion on the City's compliance with these
requirements. Accordingly, we do not express such an opinion.
� With respect to the items tested, the results of those procedures disclosed no
instances of noncompliance with the requirements listed in the preceding
� paragraph. With respect to items not tested, nothing came to our attention
that caused us to believe that the City of Ca.pe Girardeau had not complied, in
all raaterial respects, with those requirements.
� This report is intended for the information of management. This restriction is
not intended to limit the distribution of this report, which is a matter of
public record.
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� Cape Girardeau, Missouri
September 15, 1989
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� KERBER, ECK & BRAECKEL
CER'iIFIED PUBLIC ACCOUM'AIYtS
1221 BROADWAY
ORFICES IN MEMBERS MIERICAN
� C^pg��pp�. M��� G1PE GIRARDEAU, MISSOURI 63701 INS7TRIl'E OF CER77FIED
ST. L.OUIS. MISSOURI PUBLIC ACCAUNTANI'S
SPRIIVC�IELD.IWNOLS
MILWAUKEE.WISCONSIN 314�340568
� WASHWCTON,D.C.
� IND�IIJDEl�1T AUDI7.'OR.S' R�ORT ON INTE�?i�IAL CON'I�OL STRUCI'iJRE
RELATID MATTII?.S NOTID IN A FINANCIAL STATFI�ID�'P AUDIT OONDUGTID
IN A(X�ORDANCE WITH GOVfftNMIIVT AUDITING STANDARDS
� Honorable Mayor and Members
of the City Council
� City of Cape Girardeau, Missouri
� We have audited the financial statements of the City of Cape Girardeau,
Missouri for the yeax ended June 30, 1989, and have issued our report thereon
da.ted September 15, 1989.
� We conducted our audit in accordance with generally accepted auditing standards
and Government Auditiru� Standards, issued by the Comptroller General of the
United States. Those standards require that we plan and perform the audit to
� obtain reasona.ble assurance about whether the financial statements are free of
material misstatement.
In planning and performing our audit of the financial sta.tements of the City of
� Cape Girardeau, Missouri for the year ended June 30, 1989, we considered its
internal control structure in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial statements and not to
� provide assurance on the internal control structure.
The management of the City of Cape Girardeau, Missouri is responsible for
� establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and jud�nents by mariagement are required to assess
the expected benefits and related costs of internal control structure policies
and procedures. The objectives of an internal control structure are to provide
� management with reasona.ble, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition, and that
transactions are executed in accordance with mariagement's authorization and
� recorded properly to permit the preparation of financial statements in
accordance with generally accepted accounting principles. Because of inherent
limitations in any internal control structure, errors or irregularities may
� nevertheless occur and not be detected. Also, projection of any evaluation of
the structure to future periods is subject to the risk that procedures may
become ina�dequa.te because of changes in conditions or that the effectiveness of
the design and operation of policies and procedures may deteriorate.
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� INDEPIIVDEN'I' AUDI�RS' REPORT 0�1 INTE�,NAL CON'I�20L STRUCTURE
RELATID MATTER.S NOTID IN A FINANCIAL STATIIKIIVT AUDIT CONDUCTID
IN A(xORDAAICE WITH GOVERNMIIVT AUDITING STANDARDS - CONTINUID
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� For the purpose of this report, we ha,ve classified the significant internal
control structure policies and procedures in the following categories.
General
� Petty ca.sh
Bank accounts
Cash receipts
� Cash disbursements
Investments
Revenues and receivables
� Property and equipment
Purchasing, receiving and accounts payable
Payrolls
� Budget
Electronic data processing
For all of the control categories listed above, we obtained an understanding of
� the design of relevant policies and procedures and whether they have been
placed in operation, and we assessed control risk.
� Our consideration of the interna,l control structure would not necessarily
disclose all matters in the internal control structure tha.t might be material
weal�esses under standards established by the Americ�n Institute of Certified
� Public Accountants. A ma.terial weakness is a reportable condition in which the
design or operation of one or more of the specific internal control structure
elements does not reduce to a relatively low level the risk that errors or
irregularities in amounts tha.t 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 performing their assigned functions. We
noted no matters involving the internal control structure and its operation
� tha.t we consider to be material weal�esses as defined above.
This report is intended for the information of the management. This
� restriction is not intended to limit the distribution of this report, which is
a matter of public record.
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Cape Girardeau, Missouri
� September 15, 1989
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� KERBER, ECK & BRAECKEL
CERTIFIED PUBLIC ACCOUNT�NtS
1221 BROADWAY
OFFICE.S IN MEMBERS AMERICAN
� C,�pg�q�p�µ�. M�,�� GPE GIRARDEAU, MISSOURI 63701 INS7TTLI1'E OF CERTIFIED
ST. WU13. MISSOURi PUBLIC ACCOUNTANTS
SPRlf�GFiEL.D. I W NOI.S
MILWAUKEE, WISOONSIN 314-3340588
� WASHWCTON, D.C.
I1�IDEPF�iDIIVT AUDIZ�?.S' REPORT ON ZNT�IAL CONTRpIS (ACWiJIVTING
� AND ADMINISTRATIVE)-BASID ON A STUDY AND EVALUATION MADE AS A
PART OF AN AUDIT OF 'II� GD�III2AL PtJRP(XSE FINANCIAL STATII�V'I'S AND
T4� ADDITIONAL TESTS RH7RilIRID BY THE SINGLE AUDIT AGT
� Honorable Mayor and Members
of the City Council
� City of Cape Girardeau, Missouri
We have audited the general purpose financial stateanents of the City of Ca.pe
� Girardeau, Missouri for the year ended June 30, 1989, and have issued our
report thereon dated September 15, 1989. As paxt of our audit, we made a study
and evalua.tion of the internal control systems, including applicable internal
� administrative controls, used in ac�►inistering federal financial assistance
programs to the extent we considered necessary to evaluate the systems as
required by generally accepted auditing standards, Government Auditin�
� Standards, issued by the Comptroller General of the United States, the Single
Audit Act of 1984, and the provisions of OI�B Circular A-128, Audits of State
and Local Governments. For the purpose of this report, we have classified the
� significant internal acco�ting and a�ainistrative controls used in adminis-
tering federal financial assistance programs in the following ca.tegories:
1. Cycles of the F�ntities' Activity
� Treasury or financing
Revenue/receipts
Purchase/disbursements
� E�cternal financial reporting
2. Financial Sta.tement Captions
Cash and cash equivalents
� Receivables
Property and equipment
Payables and accrued liabilities
� Debt
Fluid balance
� 3. Accounting Applica.tion�
Billings
Receivables
I Cash receipts
Purchasing and receiving
Accounts payable
Cash disbursements
� Payroll
Property and equipment
General ledger
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� INDEPENDENT AUDI'PORS' REPORT ON INTER�IAL CON'I�ZOLS (ACCOUNTING
AND ADMINISTRATIVE)-BASID ON A STUDY AND EVALUATION MADE AS A
PART OF AN AUDIT OF THE GIIVEE2AL pURpOSE FINANCIAL STATII�[VTS AND
� THE ADDITIONAL TESTS RDQUIRID BY THE SINGLE AUDIT ACT - CONTIMJID
� Controls Used in Administering Federal Programs
4. General Requirements
� Political activity
Davis-Ba.con Act
Civil Rights
� Cash management
Relocation assistance and real property acquisition
Federal financial reports
� 5. Major Federal Assistance Programs
Eligibility
� `I�pes of services
f� Ma.tching level of effort
�� Reporting
� The management of the City of Cape Girardeau, Missouri, is responsible for
establishing and ma.intaining internal control systems used in achninistering
federal financial assistance programs. In fulfilling that responsibility,
� estimates and judgment 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, ma.intained and fairly
� disclosed in reports.
Because of inherent limita.tions in any system of internal accounting and admin-
� istrative 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 tha,t procedures may become ina.dequate because of changes in conditions or
that the degree of compliance with the procedures may deteriorate.
Our study included all of the applicable control ca,tegories listed in the first
` pa.ragraph. During the year ended June 30, 1989, the City of Cape Girardeau,
f Missouri expended 69"6 of its tota.l federal financial assistance under major
federal financial assistance programs and the following nonma.jor federal
( financial assistance program: Department of 'I�ansporta.tion Urban Mass Transit
� Grants. With respect to internal control systems used in administering these
major and nonmajor 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.
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� INDEPENDENT AUDITORS' REPORT ON INTERNAL pON'I'ROI.,S (AC(;pUNTING
AND ADMINISTRATIVE)-BASID ON A STUDY AND EVALUATION MADE AS A
PART OF AN AUDIT OF THE GINERAL P'URPC)SE FINANCIAL STATEMIIV'I'S AND
� THE ADDITIONAL TESTS REQIJIRID BY 'Tf� SINGLE AUDIT ACT - CONTINUID
� 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 evalua.tion was limited to a preliminary
review of the systems to obtain an understanding of the control environment and
the flow of transactions through the accounting system. Our study and
evalua.tion of the internal control systems used solely in acbninisterino 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 e:�press an
opinion on the internal control systems used in administering the federal
financial assistance programs of the City of Ca.pe Giraxdeau, 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. �Zrther, we do not express an opinion on the internal
control systems used in administering the major federal financial assistance
� programs of the City of Cape Girardeau, Missouri.
Also, our audit, made in accordance with the standards mentioned in the first
� pa.ragraph, would not necessarily disclose ma.terial weaknesses in the internal
control systems for which our study and evaluation was li.mited to a preliminary
review of the systems as discussed in the fifth paragraph of this report.
� Our study and evaluation and our audit disclosed no conditions that we believe
result in more than a relatively low risk that errors or irregularities in
amounts tha.t would be ma,terial to a federal financial assistance program ma,y
� occur and not be detected within a timely period.
This report is intended solely for the use of management and should not be used
� for any other purpose. This restriction is not intended to limit the distribu-
tion of this report, which, upon acceptance by the City of Cape Girardeau,
Missouri, is a matter of public record.
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Cape Girardeau, Missouri
September 15, 1989
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( SUf'PLIIrID�ITAL INFORMATION ,
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� City of Cape Girardeau, Missouri
INTERNAL SERVICE F(JNDS
COMBINING BALANCE SHE�I'
June 30, 1989
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Data Fleet Tota.ls
� Processing Mana,gement (Memorandum
�znd Nluid Only)
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� ASSETS
Cash and investments 65,884 303,027 368,911
Other receivables 0 7,885 7,885
� Inventories 0 12,353 12,353
Prepa,id expenses 36,809 70,589 107,398
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� 102,693 393,854 496,547
Property, plant and equipment
� �d 0 37,500 37,500
Buildings Q 359,066 359,066
Improvements other buildings � 15,150 15,150
� Equipcnent 590,375 114,413 704,788
590,375 526,129 1,116,504
� Less accumulated depreciation ____158,781 ____143,280 ____302,061
431,594 . 382,849 814,443
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534,287 r76, r03 1 ,310,990
� LIABILITIES AND FUND EQUITY =__________ ___________ ___________
�ccounts payable 44,177 84,894 129,071
� Accrued liabilities
Payroll,payroll taxes and benefits 3,618 26,261 29,879
� Retained earnings 0 0 0
Unreserved �86,492 '- 665,548 "Y 1,152,040
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� ____534,287 ____776,iO3 1,310,990
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� THE NOTES TO THE FINANCIAL STATII+III�TS r�RE AN IN�'EF'GRAL PART OF THIS ST:�TEMF..'►VT.
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� City �NTERNALGSERVICEUF�UNDSsouri
COMBINING STATEMENT OF REVENUES AND EXPENSES
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
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TOTALS
DATA FLEET (MEMORANDUM ONLY)
� _PROCESSING _MANAGEMENT _ 1988_ 1989_
OPERATING REVENUES
� Interdepartmental services 271 ,294 816,433 1 ,087,728
Other miscellaneous 0 54 54
Interest income 340 21 ,025 21 ,364
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271 ,634 837,511 1 , 109, 146
� OPERATING EXPENSES
Personnel services 49,029 239,208 288,237
Materials and supplies 4,664 289,965 294,629
� Contractual services 117, 112 255,700 372,812
General operating expenses 1 , 162 1 , 105 2,267
Internal service expenses 0 8, 030 8,030
Depreciation expense 58,501 21 ,871 80,372
� ___230,467_ ___815,879_ _ 1 ,046,346_
� LO55 BEFORE OPERATING TRANSFERS 41 , 167 21 ,633 62,800
NON-OPERATING EXPENSES
Interest and handling costs 868 0 868
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INCOME (LOSS) BEFORE OTHER
FINANCING SOURCES (USES) 40,299 21 ,633 61 ,932
� OTHER FINANCiXGd50UReE5 (USES) 0 141 14
Sales of f e ass ts 1
Compensation for damages 0 4, 191 4, 191
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0 4,332 4,332
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� NET INCOME 40,299 25,965 66,264
RETAINED EARNINGS AT BEGINNING
� OF YEAR, AS ADJUSTED (NOTE K) 446, 193 639,583 _ 1 ,085,776_
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RETAINED EARNINGS AT END OF YEAR 486,492 665,548 1 , 152,040
� ___________ ___________ ___________
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� THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT
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� City of Cape Girardeau, Missouri
� TRUST AND AGEIVCY �DS
COI�INING BALANCE SHEET
� June 30, 1989
� Deferred
Compensation
Ftiuid
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� ASSEI'S
Restricted cash and investments 164,862
� LIABILITIES =_______
� Deferred compensation due employees 164,862
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! THE NOTES TO THE FINANCIAL STATIIKIIVTS ARE AN INTEGRAL PART OF THIS STATII�IIV'T.
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� KERBER, ECK & BRAECKEL
CERTIFIED PUBLIC ACCOUIYTANTS
1221 BROADWAY
OF�ICES IN MEMBERS AMERICMI
� CAPE GIRARDEAU. MISSOUq� CAPE GIRARDEr1U. MISSOURI 63701 �N57TILTI'E OF CERTIFIED
�. �S• ��� PUBLIC ACCOUNTNYTS
SPRIMC�FIELD. IWNOIS _
MILWAUKEE,WISCONSIN 314334-0568
� WASHINGTON,D.G
� INDE�IIVDII�IT AUDITORS' R�ORT ON S�iIDUI,E OF
FIDII�AL FINANCIAL ASSISTANCE
� Honorable Mayor and Members
of the City Council
City of Cape Girardeau, Missouri
� We have audited the eneral se financial stat
g PuI`Po ements of the City of Cape
Girardeau, Missouri for the year ended June 30, 1989, and ha.ve issued our
� report thereon dated September 15, 1989. These general purpose financial
statements are the responsibility of City of Cape Girardeau, Missouri's
management. Our responsibility is to e�cpress an opinion on these general
� purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards
� and Government Auditin� Standards, issued by the Comptroller General of the
United Sta.tes. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the general purpose financial
sta.tements are free of material misstatement. An auciit in accorciance with
� these standards includes examining, on a test basis, evidence supporting the
amounts and disclosures in the genera.l purpose financial statements. An audit
also includes assessing the accounting principles used and significant
� estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
� Our audit was made for the purpose of fo�ing an opinion on the general purpose
financial statements of the City of Cape Girardeau, Missouri taken as a whole.
The accomp�nying schedule of federal financial assistance is presented for
Ipurposes of additional analysis and is not a required part of the general
purpose financial statements. The information in that schedule has been
subjected to the auditing procedures applied in the audit of the general
� purpose financial sta.tements and, in our opinion, is fairly stated in all
material respects in relation to the general purpose financial statements taken
as a whole.
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� Cape Girardeau, Missouri
September 15, 1989
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CitY of Caee Girardeau Mi sQur
� GENERAL CAPITAL IMPROV�MEN� FUN�
STATEMENT OF REVENUES AND EXPENOITURES -
BUOGET SGAAP BASIS� AND ACTUAL
FOR THE FISLAL YEAR EN ED JUNE 30, 1989
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VARIANCE
FAVORABLE
� ___BUDGET___ ___ACTUAL___ (UNFAVORABLE)
REVENUES
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Interest 31 ,800 31 ,762 <38>
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� TOTAL REVENUES 31 ,800 31 ,762 <38>
------------ ------------ -------------
EXPENDITURES
� Current
CaP ital outlay 160,000 169,225 <9,225>
Debt service
Interest and fiscal charges 1 ,061 19,450 < 18,389>
TOTAL. EXPENDITURES 161 ,061 188,676 <27,615>
� ------------ ------------ -------------
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENOITURES <129,261> <156,914> <27,653>
------------ ------------ -------------
OTHER FINANCING SOURCES (USES)
Transfer out 0 < 16,254> <16,Z54>
Proceeds of debt financing 520,863 520,863 p
� Proceeds from fixed assets ____108,000_ ____108,000_ ___________0_
TOTAL OTHER FINANCING SOURCES
(USES) 628,863 612,608 <16,255>
------------ ------------ -------------
� EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 499,602 455,694 <43,908>
� ------______ ____________ _____________
�
�
�
�
�
� THE NOTES TO THE FINAN A T
CI L S ATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
� 54
�
City of Cape Girard au Missouri
� STREET IMPROVEME�NTS� FUND
STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
�
VARIANCE
FAVORABLE
� ___BUDGET___ ___ACTUAL___ (UNFAVORABLE)
REVENUES
-------------
Miscellaneous 8,373 8,373 0
� Interest 31 ,738 13,886 <17,852>
TOTAL REVENUES
-----40, 111- -----22,259- -----<17,852>
------------ ------------ -------------
� EXPENDITURES
Current
Cap ital outlay 361 ,701 291 ,497 70,204
Debt service
Interest and fiscal charges 621 80,968 <80,347>
� TOTAL EXPENDITURES ____362,322_ ____372,465_ _____< 10, 143>
EXCESS (DEFICIENCY) OF REVENUES
S OVER (UNDER) EXPENDITURES ___<322,211> ___<350,205> <27,994>
;� -------------
OTHER FINANCING SOURCES (USES)
Transfers in 100,000 100,000 0
� Proceeds of debt financing 1 .885.500 1 ,871 ,741 <13,759>
Special assessments _____65,319_ ____109,977_ 44,658_
TOTAL OTHER FINANCING SOURCES
(USES) 2,050,819 2,081 ,719 30,900
� ------------ ------------ -------------
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 1 ,728,608 1 ,731 ,513 2,905
� ____________ ____________ _____________
�
�
�
�
�
�
� THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
� 55 �
�
� City of Ca e Girardeau, Missouri
FAU S�REET GRANTS FUND
STATEMENT OF REVENUES ANO EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
�
VARIANCE
� FAVORABLE
___BUDGET___ ___ACTUAL___ (UNFAVORABLE)
REVENUES
-------------
Intergovernmental 0 8,959 8,959
� Interest 0 3.900 3,900
----------0- ------------ -------------
TOTAL REVENUES 12,858 12.858
------------ ------------ -------------
� EXPENOITURES
Current
Cap ital outlay g,7p1 g��Op 1
Debt service
Interest and fiscal charges 5, 185 5,250 <65>
� TOTAL EXPENDITURES _____13,886_ _____ 13,949_ _________<63>
EXCESS (DEFICIENCY? OF REVENUES
OVER (UNDER) EXPENOITURES <13,886> < 1 ,091> 12,795
� ------------ ------------ -------------
OTHER FINANCING SOURCES (USES)
Transfers in 20,529 23,255 2,726
Special assessments _____ 15,253_ ______5.084_ _____<10. 169>
� TOTAL OTHER FINANCING SOURCES
(USES) 35,782 28,340 <7,442>
------------ ------------ -------------
� EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENOITURES
AND OTHER FINANCING USES 21 ,896 27,249 5,353
� ____________ ____________ _____________
�
�
(
V
i
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
56
�
� City of Ca e Girardeau Missouri
COMMUNITY DEV�LOPMENT BLO�K GRANT FUND
STATEMENT OF REVENUES AND EXPENDITURES -
FOR BHEGFISCALAYEARSENDEDN�UNET30L 1989
�
� VARIANCE
BUOGET ACTUAL FAVORABLE
_ (UNFAVORABLE)
REVENUES
------------ ----------- -------------
Intergovernmental 348,502 359,697 11 , 195
� Interest 2.995 3,066 71
------------ ------------
� TOTAL REVENUES 351 ,497 362,763 11 ,266
------------ ------------ -------------
� EXPENDITURES
Cu�rent
Cap ital outlay 362,566 384,849 �22,2g3�
Debt service
Interest and fiscal charges 9,781 9 398 383
------------ -------'----
TOTAL EXPENDITURES 372,347 394,247 <21 ,900>
------------ ------------ -------------
EXOVER (UNDERjEEXPENOITURESNUES �20�850> <31 ,484> <10,634>
� ------------ ------------ -------------
OTHER FINANCING SOURCES (USES)
Transfers in 62,643 76,057 13,414
� ------------ ------------ -------------
TOTAL OTHER FINANCING SOURCES
(USES) 62,643 76,057 13,414
------------ ------------ -------------
� EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENOITURES
AND OTHER FINANCING USES 41 ,793 44,573 2,7gp
� - -------------
�
I
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
57
�
� City of Cape Girardeau, Missouri
PARK IMPROVEMENTS FUND
STATEMENT OF REVENUES AND EXPENDITURES -
FOR THEGFISCALAYEARSEN�EDN�UNET30� 1989
�
� VARIANCE
BUDGET ACTUAL __ (UNFAVORABLE)
REVENUES ------------
---------- ----------<4>
Interest 500 4,496
� 4,
TOTAL REVENUES --------
------------ ------
___00 4,496
----<4>
-- ------------
-------------
EXPENDITURES
� Current
Capital outlay 78,813 84,935
----------- <6, 122>
TOTAL EXPENDITURES - ---"'------ -------------
78,813 84,935 <6, 122>
� ------------ ------------ -------------
! EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES <74,313> <80,439> cF
0 -
------------ ------------ » cr�?
-------------
OTHER FINANCING SOURCES (USES)
Tr�ansfers in 95,000 95,000
TOTA� OTHER FINANCING SOURCES ---------
-----------0-
(USES) 95,000 95,000
------ ------------ -------------
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 20,687 14,561 <6, 126>
THE NOTES TQ THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
58
F!
COMBINED STATEMENTyOFfREVENUESraEXPENS�ES�ANDuRETAINED EARNINGS
� FOR THELFISCALRYEARRENDED�JUNEE30, 1989
� PROPRIETARY_FUND TYPES (MEMORANDUM ONLY)
-------- ------------------------
INTERNAL
� ENTERPRISE SERVICE __ 1988_89_
----------- ----------- -
OPERATING REVENUES
Federal grants 170,735 0 170,735
State grants 1 ,606 0 1 ,606
� Residential charges 1 ,424,531 0 1 ,424,531
Commercial charges 996,626 0 996,626
Transfer station charges 152,339 0 152,339
Equtpment sales 9,440 0 9,440
� Concession revenues 36,894 0 36,894
Golf course fees 234,457 0 234,
Other fees and charges 39,493 p 457
39,493
Interdepartmental services 0 1 ,087,728 1 ,087,728
Rental revenue 77,358 0 77,358
� Donations 1 ,000 0
Other miscellaneous 3,754 54 3,808
Interest income 153,994 21 ,364 175.359
----------- ----------- -----------
3,302,230 1 , 109, 146 4,411 ,375
� OPERATING EXPENSES
Personnel services 1 ,217,899 288,237 1 ,506, 136
Materials and suppites 187,272 294.629 481 ,901
� Contractual services 813,351 372,812 1 , 186, 163
General operating expenses 133. 180 2,267 135,447
Spectal pro,�ects expense 33,521 0 33,521
Internal service expenses 420,584 8,030 428,613
Depreciation expense 746,242 80,372 826,614
� . 3,552,049 1 ,046,346 4,598,395
----------- ----------- -----------
� OPERATING INCOME (LOSS) <249,819> 62,800 < 187,019>
NON-OPERATING EXPENSES
Issuance cost amortization 11 ,044 0 11 ,044
� Interest and handling costs ___388.623_ _868_ ___389,491_
399,667 868 400,535
----------- ----------- -----------
� INCOME (LO55) BEFORE OTHER
FINANCING SOURCES (USES) <649,486> 61 ,932 <587,554>
OTHER FINANCING SOURCES (USES)
� Transfers in 145,000 0 145,000
Sales of fixed assets 0 141 141
Compensation for damages 163 4, 191 4,353
Sewer assessments 1 .376 0 1 ,376
----------- ----------- -----------
� ___ 146,539_ _____4,332_ ___ 150,871_
� NET INCOME (LO55) <502,947> 66,264 <436;683>
RETAINEO EARNINGS AT BEGINNING
OF YEAR, AS ADJUSTED (NOTE K) 12,007,575 1 ,085,776 13.093,351
� RETAINED EARNINGS AT END OF YEAR 11 ,504,628 1 , 152,040 12,656,668
ITHE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
I 13
�
City of Cape Girardeau, Missouri
� COMBINID STATEMII�'T OF CHAI�IGES IN FINANCIAL POSITION
!�LL PROPRIETARY F[TND TYPES
Year ended June 30, 1989
�
Proprietary F�nd Types
� ---------------------- Totals
Internal (Memorandtun
Enterprise Service Only)
----------- -------- -----------
� Sources of working capital
Operations
Net income (loss) (502,947? 66,264 i436,683)
� Add back items not requiring
working capital - depreciation 7�6,242 80,372 826,614
---------- ------- ----------
� Working ca,pital provided
by operations 2�3,295 146,636 389,931
Net increase in bond lease purchase
� obligations payable 5,766,334 - 5,766,334
Net increase in contributed capital 850,829 - 850,829
---------- ------- ----------
� Total sources of working
capital 6,860,458 146,636 7,007,094
� Uses of working capital
Acquisition of fixed assets 2,696,319 45,066 2,741,385
Decrease in long-term revenue
bonds payable 30,000 - 30,000
� Net increase in restricted assets 4,106,825 - 4,106,825
�djustments to be�inning fund ba.lance 28,787 43,468 72,255
Net decrease in lease purchase
� obligations pa,yable 154,564 - 154,56�
---- ----------
Tota.l uses of working
� capital 7,016,495 88,534 7,105,0^9
Net increase (.decrease) in
working capital (156,037) 58,102 (97,935}
� Elements of net increase (decrease)
in working capital
� Cash and investments 60,738 62,972 123,710
Receivables (140,868) 20,238 ( 120,630)
Inventor.y 4 091 - 4 091
Prepa,id expenses 135,140 65,065 200,205
� Accounts payable (118,734) (73,586) (192,320)
Accrued expenses (21,288) ( 16,587) (37,875)
Interest pa,yable (75,116) - (75,116)
I ---------- ------- ----------
� Net increase (decrease}
in working capital (156,037) 58,102 (97,935)
I =________ _______ _________
THE NOTES TO THE FINANCIAL STATEMIIVTS ARE :�,N INTEGRAI., PART OF THIS STATII�IIIv'P.
I 14
�
� City of Ca.pe Girardeau, Missouri
NOTES TO FINANCIAL STATII�4IIVTS
June 30, 1989
�
NOTE A - SUA4IARY 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 sa.fety (police and fire) , highways and streets, sanitation, health and
social services, culture-recrea.tion, public improvements, planning and zoning
� and general administrative services.
A swffinary of the significant accounting policies consistently applied in the
pregaration of the accompanying financial sta,tements follows.
� 1. Reportin� F�titv
The City, for financial puzYposes, includes a11 of the funds and account
� groups relevant to the operations of the City of Cape Girardeau. The
financial statements presented herein do not include agencies which have been
� formed under applica.ble sta.te laws or separate and distinct units of
government apart from the City of Ca,pe Girardeau.
The Nationa,l Council on Governmental Accounting (NCGA) , in order to clarify
� which organizations, functions and activities of government should be
included in general purpose financial sta.tements, issued NCGA-3, "Defining
the Governmental Reporting E�tity". The NCGA's intention was to provide a
� basis for making comparisons among units of government, to reduce the
possibility of arbitrary exclusion or inclusion of organizations in financial
reports, and to ena.ble financial statement users to identify the operations
� for which governmenta.l entities are responsible. The NCGA concluded tha,t the
basic criteria for including other organizations in a governmental unit's
reporting entity is the exercise of oversight responsibility over such
agencies by the governmental unit.
� The City has developed criteria to determine whether outside agencies should
be included within its financial reporting entity. The criteria include, but
� axe not limited to, whether the City exercises oversight responsibility on
the following:
� : Financial interdependency
Selection of governing authority
. Designation of management
. Ability to significantly influence operations
� : Accountability for fiscal matters
Scope of public service
. Special financing relationships
�
�
15
�
�
� City of Ca.pe Girardeau, Missouri
NOTES `PO FINANCIAL STATII�IIV'I'S - CONTINiJID
June 30, 1989
,�
NOTE A - SiJI�iARY OF ACCOUNTING POLICIES - Continued
� Based on the foregoing criteria, the financial sta.tements of the following
entities are included in the accom�nying financial statements.
� Cape Giraxdeau Public Library - The City Council appoints the Library Board
and approves the budget. The operations of the Library are reported in the
� Library F�nd, a special revenue fund.
Downtown Business District - The City Council appoints the Downtown District
Board, and approves the budget. The operations of the District are reported
� in the Downtown Business District �and, a special revenue fund.
Cape Girardea.0 (Missouri) Public Facilities Authority Activity - As described
� in Note E, the City of Cape Girardeau, Missouri, has entered into two lease
agreements with the Cape Girardeau (Missouri} Public Facilities Authority
(CGPFA) . The CGPFA is a not-for-profit corporation organized and existing
� under Chapter 355 of the Revised Statutes of Missouri. The CGPFA board of
directors consist of city officials and city council members. Due to the
significant city influence, the activities of the CGPFA are included in the
financial presentation of the city. 'Phe corporation was used to execute the
� bond indentures for the purpose of issuing and securin� the Series 1988 Bonds
and a limited additional bonds. These bonds were used to finance
construction and improvements to sewer, solid waste, street and other ca.pita,l
� improvement projects. The bond payments are obligations of the CGPFA. The
CGPFA has entered into a Lease Purchase Agreement with the City from which
the lease payments will be used solely to retire the debt.
� The following entities are not pa.rt of the City's reporting entity because
the City exercises no oversight responsibility and has no accounta.bility for
fisca.l ma.tters. The significant factors for exclusion are: the appointed
� board members have no continuing relationship with the City; the board
designates management; the City cannot significantly influence the
operations; the board has sole budgetary authority; the entities control
� surpluses and deficits; the City is not legally or morally obligated for the
entities debt; and the entities are responsible for fiscal management. In
this situation, the preceding factors are conclusive in contrast with the
� following factors indicating inclusion: the entities operate within the
boundaries of the City and the City appoints members to the board.
Based on the criteria above, the following entities are excluded from the
� financial sta.tements of the City, the Downtown Redeveloptnent Corporation and
the Show Me Center Board of Mana�ers.
�
�
16
�
�
� City of Cape Girardeau, Missouri
NOTFS TO FINANCIAL STATII�IIV'I5 - CONTINUID
June 30, 1989
�
NOTE A - SUMMARY OF ACCOiJNTING POLIGIES - Continued
� 2. �Znd Accountin�
The accounts of the City are organized on the basis of f�ds and account
� groups, each of which is considered a separate accountin� entity. The
operations of ea.ch fund are accounted for with a separate set of self-
� ba.lancing 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 axe 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 ca.tegories as follows.
� GOVgtNMIIVTAL FIJIJDS
� General �nd - The General F�.u�d is the general operating fund of the City.
It is used to account for all financial resources except those required to
be accounted for in another fund.
� Special Revenue Funds - Special Revenue F�ands are used to account for the
proceeds of specific revenue sources (other than expendable trusts or major
capita.l projects) that are legally restricted to expenditures for specified
� purposes.
Debt Service Funds - Debt Service Ftiuids are used to account for the
� accumulation of resources for, and the gayment of, general long-term debt
principal, interest and related costs.
Capita.l Project F�ands - Capital Project Funds are used to account for
� financial resources to be used for the acquisition or construction of ma.jor
capita.l facilities (other than those financed by Proprietary Funds and
Trust F�nds) .
� PROPRIETARY FUNDS
� F�terprise F�uids - EYiterprise �inds are used to account for operations
(a) that are financed and operated in a manner si.milar 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 prima.rily through user charges;
or (b) where the �overning body ha.s decided tha.t periodic determination of
revenues collected, expenses paid, and/or net income is appropriate for
� capital maintenance, public policy, management control, accountability, or
other purposes.
�
17
1
�
� City of Cape Girardeau, Missouri
KOTES 'PO FINANCIAL STATIINIIV'TS - CONTINUED
June 30, 1989
�
NOTE A - SUrIlKARY OF AC�PING POLICIES - Continued
� PROPRIEPARY FUNDS - Continued
� Internal Service Ftiuids - Internal Service �inds are used to account for the
financing of goods or services provided by one depa.rtment to other
departments of the City, on a cost-reimbursement basis.
� FIDUCIARY FUNDS
Trust and Agency �nds - 'trust and Agency bluzds are used to account for
� assets held by the City in a tr�ustee capacity or as an agent for
individuals, private organization, other governments, and/or other funds.
Agency �ands are custodial in nature and do not involve measurement of
� results of operations.
3. Fixed Assets and Lon.�-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 a.re generally included on their balance sheets. Their
reported fund balance (net current assets) is considered a measure of
� "available spenda.ble resources".
Governmental fund operating statements present increases (revenues and other
� financing sources) and decreases (expenditures and other financing uses) in
net current assets. Accordingly, they are said to present a sununary of
sources and uses of "available spenda,ble resources" during a period.
� The City of Cape Girardeau presently maintains detailed property records only
for proprietaxy fund types. Deta.iled property records are not maintained for
all other funds of the City of Cape Girardeau. E�cpenditures for general
� fixed assets are charged to expenditures when ma.de.
All fixed assets are valued at historical cost or estimated historical cost
� if actual historical cost is not available. Dona.ted 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.
�
18
�
�
� City of Ca,pe Girardeau, Missouri
NO'TES 'Ii0 FINANCIAL STATII�4IIVTS - CONTINUID
June 30, 1989
�
NOTE A - SiJMhlARY OF ACCOUNTING POLICIES - Continued
� 3. Fixed Assets and Lon�-term Liabilities - Continued
� Noncurrent portions of long-term receivables due to governmental funds are
reported on their balance sheets, in spite of their spendin� 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 governmenta.l fund type revenues
represented by noncurrent receivables is deferred until they become current
receivables. Noncurrent portions of long-term loan.s receivable are offset by
� fund ba.lance reserve accounts.
Because of their spending measurement focus, expenditure recognition for
� governmental fund types is limited to exclude amounts represented by
noncurrent liabilities. Since they do not affect net current assets, such
long-term amounts are not recognized as governmenta.l fund type expenditures
� or fund liabilities. They are instead reported as liabilities in the General
Long-term Debt Account Group.
All Proprieta.ry �nds are accounted for on a cost of services or "capital
� ma.inten,ance" measurement focus. This means tha.t 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. Proprietaxy Ftuzd type operating statements present increases
(revenues) and decreases (expenses) in net tota,l assets.
� Depreciation of all exhaustible fixed assets used by Proprietary Funds is
chaxged as an expense against their operations. Accumulated depreciation is
reported on Proprietary F�and 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 Accountin�
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.
� 19
�
S City of Cape Girardeau, Missouri
�� NOTES TO FINANCIAL STATIIKIIV'TS - CONTINUID
June 30, 1989
�
NOTE A - SUMMARY OF ACCOtJNTING POLICIFS - Continued
� 4. Basis of Accountin� - Continued
� Anticipated reftuids of such taxes are recorded as liabilities and reductions
of revenue when they are measurable and their validity seems certain.
� �cpenditures axe generally recognized under the modified accrua.I basis of
accounting when the related fund liability is incurred. E`xceptions to this
general rule include principal and interest on general long-term debt which
is recognized when due.
� All Proprieta.ry F�nds 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. Bud.�ets and Bud�etary Accountin�
The City follows these procedures in esta.blishing the budgeta.ry data.
reflected in the financial sta,tements.
� 1. The City Manager submits to the City Council a proposed operating
budget for the fiscal year co�nencing the following July 1. The
� operating budget includes proposed expenditures and the means of
financing them.
� 2. Public hearings are conducted to obtain taxpayer comneents.
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 tha.t alter the
� total e�nditures of any depa.rtment 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 a11 funds are adopted on a ba.sis consistent with gener-
� ally accepted accounting principles (GAAPj .
Individual budget amendments ma.de throughout the yeax were not tnaterial in
� relation to the total original appropriations which were amended.
�
20
�
�
� City of Cape Giraxdeau, Missouri
NOTES TO FINANCIAL STATII�VTS - CONTINUED
June 30, 1989
�
NOTE A - SUrII�ARY OF ACCOUNTING POLICIES - Continued
� 6. Compensated Absences
� Vested or accumulated vacation pay for proprieta,ry funds is recorded as an
expense and liability of those funds as the benefits accrue to employees.
Amounts of vested or accimrulated vacation leave of goverrmienta.l funds that
� are not expected to be liquidated within the current year are reported in the
general long-term debt account group.
?. Bond Discounts/Issuance Costs
� In governmental fund types, bond discounts and issuance costs are recognized
in the current period. Bond discounts and issuance costs for proprieta.ry
� fund types are deferred and amortized over the term of the bonds. Bond
discounts are presented as a reduction of the face amount of bonds payable
whereas issuance costs axe recorded as deferred charges.
� 8. Total Columns on Combined Sta.tements - Overview
Total Col�s on the Combined Sta,tements - Overview are captioned "Memoran-
� dum Only" to indicate that they are presented only to facilitate financial
analysis. Data. in these colw�ms do not present results of operations in
conformity with generally accepted accounting principles. Neither is such
� data. comparable to a consolidation. Interfund eliminations ha,ve not been
made in the aggregation of this data.
� NOTE B - CASH AND INVESTMIINT
1. Deposits
� At June 30, 1989, the carrying amount of the City's deposits was $4,657,108
and the bank ba.lance was $4,976,347 which excludes $3,795 of petty cash funds
� held at various City loca.tions. The deposits are categorized in accordance
with risk factors created by governmental reporting standards.
Carrying Bank
� Amount Balance
Category #1 $ 100,000 $ 100,000
! Category #2 4,557,108 4,876,347
� Category #3
� Ca.tegory #1 includes deposits covered by depositing insurance or collateral
held by the district in the district's name.
� Category #2 includes deposits covered by collateral held by the financial
institutions trust department in the district's name.
21
�
�
� City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATII�sIIV'I'S - CONTINUID
June 30, 1989
�
NOTE B - CASH AND INVEST�III�T - Continued
� 1. Deposits - Continued
� Ca,tegory #3 includes deposits which are uncollateralized or the collateral is
held by the financial institutions trust department but not in the district's
name.
� 2. Investments
Investments made by the City are sw�unarized below. The investments that are
� represented by specific identifiable investment securities are classified as
to credit risk by the three ca.tegories described below:
� Category #1 Insured or registered, or securities held by the City or its agent
in the City's name.
� Category #2 Uninsured and unregistered, with securities held by the counter-
party's trust department or agent in the City's name.
Category #3 Uninsured and unregistered, with securities held by the counter-
� party, or by its trust department or agent but not in the City's
name.
� Cate�ory Carrying Maxket
#1 _�2 �3 value value
� U.S. government _ _
securities $ 5,479,341 $ $ $ 5,479,341 $ 5,479,341
Certificates
of deposit 4,175,000 - - 4,175,000 4,175,000
� Commercial _ _
paper 490,399 490,399 490,399
Other 27,551 - - 27,551 27,551
� $10,172,291 $_ $_ $10,172,291 $10,172,291
! Included in the amounts shown above is $3,853,982 to be used to retire the
� 1984 Public Building Bonds (note E) .
�
�
�
22
�
�
� City of Ca.pe Girardeau, Missouri
NOrI'E.S TO FINANCIAL STATEIrIDVTS - CONTINUED
June 30, 1989
,�
NOTE C - PRUPgtTY TAXFS
� Property taaces attach as an enforceable lien on property. Taxes were levied
on August 15, 1988, for collection during this fiscal year. The tax rates
� assessed at the time were as follows.
City Revenue $.30/100.00 assessed valuation
Library Tax .14/100.00 assessed valua.tion
� Public Health Tax .04/100.00 assessed valuation
Debt Service Tax .10/100.00 assessed valua.tion
� Reserve for doubtful property taxes at June 30, 1989, was $14,631.
� NOTE D - CHANGES IN GIN�AL FIh'ED ASSEIS
A summary of proprietary fund type property, plant and equipment at June 30,
1989 follows:
� Internal
�terArise Service
� Land $ 435,320 $ 37,500
Buildin.gs 9,419,400 359,066
� Improvements other
than buildings 10,984,855 15,150
Equipment 1,947,972 704,788
Construction in progress 1,968,721 -
� 24,756,268 1,116,504
Less acctanulated depreciation 8.176,192 302,061
� $16,580,076 $ 814,443
---------- ---------
---------- ---------
�
�
�
�
�
23
�
�
� City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATIIKIIVTS CONTIMJED
June 30, 1989
�
NOTE E - IANG-TERM OBLIGATIONS
� The following is a su�y of bond transactions of the City for the year
ended June 30, 1989.
� General Leasehold
Obligation Revenue Revenue
� Bonds Bonds Bonds Tota1
Bonds payable at
July 1, 1988 $8,240,000 $1,350,000 $ - $ 9,590,000
� Bonds issued -
Series 1988 - - 3,720,000 3,720,000
� Series 1989 - - 5,000,000 5,000,000
Unamortized
� discounts - - (108,166j (108,166)
Bonds retired 130,000 30,000 - 160,000
Bonds payable at
_ June 30, 1989 $8,110,000 $1,320,000 $8,611,834 $18,041,834
--------- --------- --------- ----------
--------- --------- --------- ----------
� Bonds payable at June 30, 1989, are comprised of the following individual
issues.
� $4,530,000 1984 Public Building serial bonds due as follows.
Year ending Interest Principa.l Interest
� June 30, Rate Due Due Tota.l
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 3,715,000 184.142 3.899,142
$4,530,000 $2,261,555 $6,791,555
� _________ -________ _________
Principal payments are made on November 1, and interest payments are made
� semi-annually on May 1, and November 1. On November 1, 1994, proceeds from
the 1987 Refunding Bonds will be used to retire the rema.ining $3,510,000 of
1984 Public Building serial bonds.
�
24
�
�
� City of Cape Girardeau, Missouri
NO'PES TO FINANCIAL STATII�VTS - CONTINUID
June 30, 1989
�
NO'PE E - LONG-TERM OBLIGATIONS - Continued
� $3,580,000 1987 General Obligation Refunding Bonds due as follows.
� Interest
Year ending Interest Principal Interest Earned on
June 30, Ra.te Due Due Escrow Tota.l
� 1990 $ _ $ 238,628 $ 238,628 $ _
1991 238,628 238,628
1992 - 238,628 238,628 -
� 1993 _ 238,628 238,628 _
1994 238,628 238,628
1995 - 238,628 119,869 118,759
� 1996 6.00% 265,000 230,678 _ 495,678
1997 6.15 280,000 214,117 494,117
1998 6.30 295,000 196,215 - 491,215
1999 6.45 315,000 176,764 - 491,764
� 2000 6.60 340,000 155,385 _ 495,385
2001 6.70 360,000 132,105 492,105
2002 6.80 385,000 106,955 - 491,955
� 2003 6.90 415,000 79,548 _ 494,548
2004 7.00 445,000 49,655 494,655
2005 7.10 480.000 17,Q40 - 497.040
� $3,580,000 $2,790,230 $1,313,009 $5,057,221
--------- --------- --------- ---------
--------- --------- --------- ---------
� Principal payments are made annually on November 1, and interest payments are
made semi-annually on May 1, and September 1.
� On August l, 1987, the City of Ca.pe Girardeau issued $3,580,000 of General
Obligation Refunding Bonds Series 1987 with interest rates varying from 6.00%
to 7.10%. The Refunding Bonds constitutes general obligations of the City
� and will be payable as to both principa.l and interest from advalorem ta�es
which ma.y be levied without limitation as to rate or amount upon all the
taxable tangible property, real and personal, within the territorial limits
� of the City.
The Refunding Bonds are being issued to provide the City with funds which,
together with other legally available funds of the City, will be sufficient
� to refund $3,510,000 of the $4,780,000 principal amount of the outstanding
Series 1984 Bonds of the City.
�
�
25
�
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�
� City of Cape Girardeau, Missouri
NOTFS TO FINANCIAL STATIIKIIV'TS - CONTINUID
June 30, 1989
�
NOTE E - LONG-TII?M OBLIGATIONS - Continued
� To effect the refunding of the Series 1984 Bonds, the City entered into an
Escrow Deposit Agreement (the "Escrow Deposit Agreement") , dated as of August
� 1, 1987, with The Boa.tmen's Nationa,l Bank of St. Louis, as escrow agent
("Escrow Agent") . Pursuant to the Escrow Deposit Agreement, the Escrow Agent
deposited the proceeds of the Bonds to be applied in the amount of $3,580,600
� to the purchase of United States Treasury Securities (the "Escrowed
Securities") .
The principa.l amount of the Escrowed Securities, together with the interest
� income thereon, will be payable at such times and in such amounts, together
with the moneys held uninvested by the Escrow Agent, to pay, when and as due,
the interest on the Bonds from November 1, 1987 through November 1, 1989, and
� to pay the principal of and redemption premium on the Series 1984 Bonds to be
redeemed on November 1, 1994.
� The Escrow Deposit Agreement that the Escrowed Securities (exclusive of
investment earnings thereon) and the moneys held uninvested by the Escrow
Agent are irrevocably pledged to the payment of the principal of and
redemption premium on the Series 1984 Bonds and may be applied only to such
� payment.
$1,320,000 1986 Sewerage System Revenue Bonds due as follows.
� Year ending Interest Principa.l Interest
June 30. Ra.te Due Due Total
� 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
$1,320,000 $1,163,204 $2,483,204
--------- --------- ---------
--------- --------- ---------
�
26
�
�
� City of Cape Girardeau, Missouri
NOTES 'PO FINANCIAL STATII�V'1'S - CONTINUID
June 30, 1989
�
NOTE E - LONCrTERM OBLIGATIONS - Continued
� Principal pa.yments are made annually on March 1, and interest payments are
made semi-annually on Ma.rch 1, and September 1.
� $3,720,000 Building and Equipment Leasehold Revenue Bonds, Series 1988
due as follows.
� Year ending Interest Princiga.l Interest
September 1, Rate Due Due Total
� 1989 5.90% $ 280,000 $ 236,310 $ 516,310
1990 6.10 295,000 219,053 514,053
1991 6.25 310,000 200,368 510,368
� 1992 6.40 330,000 180,120 510,120
1993 6.50 355,000 158,023 513,023
1994 6.60 375,000 134,110 509,110
� 1995 6.70 400,000 108,335 508,335
1996 6.80 430,000 80,315 510,315
1997 6.90 455,000 49,998 504,998
1998 7.00 490,000 34,300 524,300
� $3,720,000 $1,400,932 $5,120,932
--------- --------- ---------
--------- --------- ---------
� The bond's axe obligations of the Cape Girardeau (Missouri) Public Facilities
Authority (CGPFA) . The CGPFA has entered into a Lease Purchase Agreement
� with the City of Cape Girardeau, Missouri. Principal and interest will be
paid by CGPFA from renta.l and other receipts from the City. The purpose of
the bonds is to purchase the existing central fire station of the City,
construct and equip a new fire station, construct and equip a solid waste
� transfer station and acquire certain other furnishings and equipment.
Based on a percentage-of-use of funds, the bond principal is allocated as
� follows: $1,540,794 - Sewer �nd; $1,423,345 - Solid Waste Fund and $'755,861 -
General Long-Term Debt Account Group.
� Principal payments are ma,de annually on September 1, and interest payments
are made semi-annually on March 1, and September 1.
�
�
�
27
�
�
� City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATIIKIIV'TS - CANTINUID
June 30, 1989
�
NOTE E - LONG-TE�?M OBLIGATIONS - Continued
� $5,000,000 Building and Equipsnent Leasehold Revenue Bonds (Street and Sewer
Improvement Projects) , Series 1989 due as follows.
� Year ending Interest Principa.l Interest
March 1, Rate Due Due Total
� 1990 6.75� $ 135,000 $ 259,988 $ 394,988
1991 6.75 145,000 337,537 482,537
1992 6.80 350,000 327,750 677,750
� 1993 6.80 360,000 303,950 663,950
1994 6.85 370,000 279,470 649,470
1995 6.85 380,000 254,125 634,125
� 1996 6.90 400,000 228,095 628,095
199? 6.90 405,000 200,495 605,495
1998 6.95 420,000 172,550 592,550
� 1999 7.00 435,000 143,360 578,360
2000 7.00 455,000 112,910 567,910
Z001 7.05 470,000 81,060 551,060
2002 7.10 490,000 47,925 537,925
,� 2003 7.10 185,000 13.135 198,135
$5,000,000 $2,762,350 $7,762,350
� _________ _________ _________
The 1989 bonds and interest were issued pursuant to an agreement in the
� original indenture, $3,720,000 Building and Equipment Leasehold Bonds, Series
1988. The 1989 bonds and interest are obligations of the Cape Girardeau
(Missouri) Public Facilities Authority (CGPFA) . The CGPFA has entered into a
Lease Purchase Agreement with the City of Cape Girardeau, Missouri.
� Frincipal and interest payments will be pa,id by CGPFA from rental and other
receipts from the City. The purpose of the bonds is to construct and improve
certain streets located in the City and improve the sewerage system.
� Based on a percentage-of-use of funds, the bond principa,l is allocated as
follows: $2,910,361 - Sewer Fund and $2,089,639 - General Long-term Debt
� Account Group.
Principle payments are ma.de annually on Ma.rch 1, and interest pa,yments are
made semi-annually on Ma,rch 1, and September 1.
�
�
I
28
�
�
City of Cape Girardeau, Missouri
� NOTES TO FINANCIAL STATEMENTS - CONTINUED
June 30, 1989
�
NOTE E - LONG-TERM OBLIGATIONS - Continued
� The annual requirements to amortize all debt outstanding as of June 30, 1989,
including interest payments of $9,065,262 are as follows.
� General Leasehold
Year ending Obligation Revenue Revenue
June 30. Bonds Bonds Bonds Total
� 1990 $ 592,460 $ 134,597 $ 911 ,298 � 1 ,638,355
1991 585,060 136,897 996,590 1 ,718,547
1992 576,460 138,748 1 ,188,118 1 ,903,326
� 1993 571 ,360 140,347 1 ,174,070 1 ,885,777
1994 567,073 141 ,523 1 ,162,493 1 ,871 ,089
1995 4,017,901 137,272 1 ,143,235 5,298,408
� 1996 495,678 143,523 1 ,136,430 1 ,775�631
1997 494,117 144,022 1 ,115,810 1 ,753,949
1998 491,215 144,148 1 ,097,548 1 ,732,911
� 1999 491 ,764 143,897 1 ,102,660 1 ,738,321
2000 495,385 148,198 567,910 1 ,211 ,493
2001 492,105 151 ,652 551 ,060 1 ,194,817
2002 491 ,955 149,290 537,925 1 ,179,170
� 2003 494,548 151 ,490 198,135 844,173
2004 494,655 157,800 652,455
2005 497,040 157,800 - 654,840
� 2006 - 162.000 - 162.000
$11 ,848,776 $2,483,204 $12,883,282 $27,215,262
---------- --------- ---------- ----------
---------- --------- ---------- ----------
� $433,777 is available in the Debt Service Fund to service the general
obligation bonds. This does not include the $3,574,107 available to apply to
� refunding of 1984 series bonds.
In the Sewer Fund, $206,866 cash is available to service the Sewerage Revenue
� Bonds.
The debt service available to retire the Leasehold Revenue Bonds is shown in
the various funds as follows.
� SeWer Fund $ 450,894
Solid Waste Fund 148,985
� General Fund 13
Debt Service Fund 285,563
General Capital Improvement Fund 39
Street Improvement Fund 1 .442
� Total $_-886,936
�
� 29
�
City of Cape Girardeau, Missouri
� NOTES TO FINANCIAL STATEMENTS - CONTINUED
June 30, 1989
�
NOTE E - LONG-TERM OBLIGATIONS - Continued
� Included in restricted cash on the balance sheet is �5,711 ,247 which is the
balance in the various pro.iect accounts which represent incompleted projects
at June 30, 1989. If the project funds are not used, the remaining balance
� can be applied against debt.
The City is in compliance with all significant limitations and restrictions
� contained in the various bond indentures.
NOTE F - CAPITAL LEASE OBLIGATIONS
� The City is the lessee of certain equipment under capital Ieases. 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 Groun Funds
1 Luggar truck $ - $ 64,425
Sanitation truck - 99,476
� Refuse trucks _ 114,104
Sludge trucks 250,698
Golf carts - 68,000
� Golf course irrigation system - 204,281
Fire truck 410.164
410,164 800,984
Less accumulated amortization - 224,169
f $410,164 $576,815
I
I
�
I
�
� 30
�
� City of Cape Girardeau, Missouri
NOrPES TO FINANCIAL STATII�4IIVTS - CONTINUID
June 30, 1989
�
NOTE F - CAPITAL LEASE OBLIGATIONS - Continued
� The following is a schedule by years of future minimwn lease payments under
capital leases together with the present value of the minimwn lease payments
� as of June 30, 1989.
Year ending General Fixed EY�terprise
June 30, Asset Group Funds
� 1990 $105,032 $189,420
1991 105,032 150,302
� 1992 52,489 129,293
1993 49,155
1994 - 22,254
� Succeeding years - ?7,722
Tota,l minimum lease payments 262,553 618,146
Less amount representing
� interest 21,634 88,371
Present value of net
� minimwn lease payments $240,919 $529,775
� Current portion $ 91,829 $152,264
Noncurrent portion 149,090 3'77,511
$240,919 $529,775
� _______ _______
� NOTE G - DEFICIT FtJND BALANCES
The Solid Waste-�terprise Fund has a deficit fund balance of $129,317.
� NOTE H - PINSION PLAN
� 1. Plan Description
The City of Cape Girardeau contributes to the Missouri Local Government
� IInployees Retirement System (LAGgi.S) , and agent multiple-employer public
employee retirement system that acts as a coirnnon investment and
administrative agent for local government entities in Missouri. LAGERS was
created and is governed by state sta,tute. As such, it is the system's
I
I
31
I
�
� City of Ca.pe Girardeau, Missouri
NOTES TO FINANCIAL STATII�IDV'I'S - CONTINiJID
June 30, 1989
'�
NOTE H - PINSION PLAN - Continued
!� 1. Plan Descrix�tion - Continued
� responsibility to administer the law in accordance with the expressed intent
of the General Assembly. The plan is qualified under the Internal Revenue
Code Section 401a and it is tax exempt.
� All full-time employees axe eligible to participate in LAGERS. Benefits vest
after five years of credited service. IInployees who retire on or after age
60 (55 for police and fire) with 5 or more yeaxs of service are entitled to
� an allowance for life based upon the benefit program then in effect. The
allowance is equa.l to a benefit factor multiplied by the final average salary
multiplied by the number of years of service. LAGERS also provides early
� retirement, death and disability benefits. If the political subdivision
participates under the contributory plan, each member contributes 4% of gross
salary. The employer is required by statute to contribute the remainin�
amounts necessary to finance the coverage of its employees using the
� actua.rial basis specified by state statute.
2. �andin� Status and Pro�ress
� The amount shown below as the "pension benefit obligation" is a standardized
disclosure measure of the present value of pension benefits, adjusted for the
� effects of projected salary increases, estima.ted to be pa,yable in the future
as a result of employee service to date. The measure is the actua.rial present
value of credited projected benefits and is intended to (i) help users assess
the plan's funding sta,tus on a goin�-concern ba.sis, {ii1 assess progress
� being made in accwnulating sufficient assets to pay benefits when due, and
(iii) allow for comparisons among public employee retirement plans. The
measure is independent of the actuarial funding method used to determine
� contributions to the plan.
The pension benefit obligation was determined as part of an actuarial
� valuation of the plan as of February 28, 1989. Significant actuarial
assumptions used in determining the pension benefit obligation include (a) a
rate of return on the investment of present and future assets of 7.0% per
year compounded annually, (b) projected salary increases of 4% per year
� compounded annua.11y, attributable to inflation, (c) additional projected
salary increases ranging from 0.0'�6 to 4.0% per year, depending on age,
attributable to seniority/merit, and (d) the assumption tha.t benefits will
� increase 3% per year after retirement.
At February 28, 1989, the assets in excess of the pension benefit obligation
Iwere $3$7,459, determined as follows:
I
32
I
�
� City of Cape Girardeau, Missouri
f NOTES TO FINANCIAL STATII�III�TS - CONTINUID
June 30, 1989
�
NOTE H - PENSION PLAN - Continued
� 2. �.indin� Status and Pro�ress - Continued
� Pension Benefit Obligation:
(IInployer Accumulation bl�nd and Member Deposit F�uid only)
Retirees and beneficiaries currently receiving benefits $ -
� Terminated employees not yet receiving benefits 117,528
� G�.�rrent employees --
Accumulated employee contributions including
allocated investment income 1,471,084
� Elnployer financed - Vested 3,193,528
Employer financed - Non-vested 408.215
Tota,l Pension Benefit Obligation 5,190,355
� Net Assets Available for Benefits; at Cost: 5,577,814
� Assets in Excess of the Pension Benefit Obligation $--387,459
� 3. �andin� Policv
The City of Cape Girardeau is obligated by state statute to make all required
contributions to the plan. The required contributions are actuarially
1 determined using the individual entry-age actuarial cost method. The prior
� service costs are amortized over an initial amortization period of 40 years,
and the amount of the additional unfunded obligations created due to
� increases in plan benefits over a period of 30 years. Any refunds of inember
contributions as elected by the City of Ca,pe Girardeau are amortized over a
15 year period.
� The significant actuarial assumptions used to determine the actua.rially
determined employer contribution requirements are the same as those used to
compute the pension benefit obligation.
( The City of Ca.pe Girardeau's contribution for 1988 of $435,168 was made in
accordance with actuarially determined contribution requirements determined
� through an actuarial valuation. � This amount consisted of normal cost and
amortization of prior service costs.
� The value of vested benefits was not determined in connection with the
actuarial valua.tion of the plan. At February 29, 1988, (the date of the most
recent actuarial valuation) the total unfunded liability for benefits accrued
was $776,864.
I
33
I
�
City of Cape Girardeau, Missouri
� NOTES TO FINANCIAL STATII�IDVTS - CONTINtJEp
June 30, 1989
� KO'I'E H - PINSION PLAN - Contin
ued
� 4. Trend Informa.tion
Historical information about the City's participa,tion in the Missouri Local
� Government E�mployees Retirement System is presented herewith as required
supplementary information. This information is intended to help users assess
the City's retirement plan's funding status on a going-concern b�asis, assess
� progress being made in accumulating assets to pay benefits when due, and
allow for comparisons with other public employees retirement systems (PERS) .
� �1) f2) �3) �4) �5) (6?
Pension Unfunded PBO
Net Assets Benefit Percent Unfunded Annual As a Percent of
Valuation Available Obligation F�anded PBO Covered Covered Payroll
( Date For Benefits (PBO) 1 2 (2)-{1) Pavroll (4)/{5)
2/28/87 $5,276,196 $5,595,774 94% $ 319,578 $4,968,360 6%
� 2/29/88 6,218,632 6,188,416 100 (30,216) 4,970,027 =
2/28/89 5,577,814 5,190,355 107 {389,459) 5,291,039
� The above assets and pension benefit obligation do not include the assets and
present value of benefits associated with the Benefit Reserve F�nd and the
Ca.sualty Reserve Ftimd. All current retiree assets and present values are
excluded above, beginning 1989.
�
Analysis of the dollar amo�ts of net assets available for benefits, pension
benefit obligation, and unfunded pension benefit obligation in isolation can
; be misleading. �pressing the net assets available for benefits as a
! percenta,ge of the pension benefit obligation provides one indica,tion of the
plan's funded status on a going-concern basis. Analysis of the percentage
over time indicates whether the system is becoming financially stronger or
weaker. Generally, the greater this percentage, the stronger the plan. The
unfunded pension benefit obligation and annua.l covered payroll are both
affected by inflation. E�pressing the unfunded pension benefit obligation as
a percentage of a4nnual covered payroll approxima,tely adjusts for the effects
of inflation and aids ana.lysis of the progress being ma.de in accumulating
sufficient assets to pa.y benefits when due. Generally, the smaller this
percenta�e, the stronger the plan.
Revenues bY source
Member F�mployer
Fiscal contri- contri- Investment
year butions butions income Total
6/30/87 $197,541 $303,803 $778,789 $1,280,133
6/30/88 203,439 3Q8,554 424,987 936,980
6/30/89 - 435,168 512,051 947,219
34
' 1
City of Cape Girardeau, Missouri
� NOTES TO FINANCIAL STATII�iIIV'I'S - CpNTINUID
June 30, 1989
�
NOTE H - PINSION PLAN - Continued
� 4. Trend Information - Continued
� E�cuenses bv tvpe
Fiscal
vear Benefits Refunds Total
� 6/30/87 $227,472 $37,921 $265,393
6/30/88 265,824 59,276 325,100
� 6/30/89 261,462 74,345 335,807
NOTE I - INTEREST E�IIVSE
� Interest cost tota.ling $1,071,686 was incurred during the year ended June 30,
1989. No interest cost was ca.pitalized as pa.rt of the cost of assets
� constructed during the period.
INOTE J - INTF�tF�F[11VD RECEIVABLES AND PAYABLES
The following is a stutunary of the amounts due from and to other funds.
Due from Due to
General Ftand $638,103 $ -
i FAU Street Grants F�and - 40,251
CDGB Grants Fund - 5,841
Street Improvetnents �nd - 20,575
Solid Waste �.uid - 500,279
Library F�.uid - 45,131
Golf Course Ftand - 26,026
$638,103 $638,103
------- -------
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�
City of Cape Girardeau, Missouri
Npr�S TO FINANCIAL STAT�s - �NTINUED
� June 30, 1989
�
NpTE L - DEFERRED CAMP�SATION PLAN
� The City offers its employ�evenuedCoderSectone457tio�elp an'eava lable to
accordance with Internal rtion of their salary until
all City employees, permits them to defer a po
future years. Participation in the plan is optional. The deferred
� compensation is not available to employees until termination, retirement,
death or unforeseeable emergency. All amounts of compensation deferred under
the plan, all property and rights purchased with those amounts, and all
� income attributable to those aiaounts, property or rights are (until gaid or
made available to the employee or other beneficiary) solely the property and
rights of the City subject only to the claims of the City's general
� creditors. Participants' rights under the plan are equa.l to those of general
creditors of the City in an amount eclua,l to the fair market value of the
� deferred account for each participant.
�
ii
�
�
�
�
�
�
�
�
� 37
�
� City of Ca qraLr�� �, Missouri
STATEMENT oF R�����ES AN� EXPENDITURES -
BUDGET (GAA BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED 'JUNE 30, 1989
�
VARIANCE
� FAVORABLE
BUDGET ACTUAL___ (UNFAVORABLE)
------------ --------- -------------
REVENUES 7, 166,526 7,264,743 98,217
� Taxes
Licenses and permits 495, 185 528,555 33,370
Intergovernmental 102,923 105,491 2,568
Charges for services 243,825 264,968 21 , 143
Fines and forfeitures 356,000 359,978 3,978
� Miscellaneous 66,319 66, 182 < 137:
Interest 204, 161 209,921 5,760
; ������������ ������������ ���������.����
TOTAL REVENUES 8,634,939 8,799,839 _____164,900
------------ ------------
� EXPENOITURES
Current
General government 1 , 174,710 1 , 138,402 36,309
Transportation 1 ,234, 150 1 , 144,567 89,583
� Public safety 4,411 ,988 4,298,794 113, 195
Cemetery 62,730 60,484 2,246
Culture and recreation 13,600 13,600 0
Cortxnunity development 645,484 609,540 35,944
� Oebt service �
Principai 86,201 86, 197 4
Interest and fiscal charges 30,511 30,515 <4.
------------ ------------ ------------�
TOTAL EXPENDITURES 7,659,376 7,382,098 277,277
� ------------ ------------ ------------�
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 975,564 1 ,417,740 442, 177
------------ ------------ ------------�
� OTHER FINANCING SOURCES (USES)
Transfers in 200,000 0 <200,000
Transfer out <1 ,324. 172> < 1 ,323,946> 226
� Proceeds of debt financing 156,259 156,259 0
Proceeds from fixed assets 12,827 12,661 < 166
Special assessments 0 840 840
------------ ------------ ------------
TOTAL OTHER FINANCING SOURCES
� (USES) ___<955,086> < 1 , 154, 186> < 199, 100
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
� AND OTHER FINANCING USES 20,478 263,554 243,077
�
� THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
�
� 38
�
� City of Cape Girardeau, Missouri
CONVENTION/TOURISM SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENOITURES -
BUDGET (GAAP BASIS AND ACTUAL
FOR THE FISCAL YEAR EN�ED JUNE 30. 1989
�
� VARIANCE
FAVORABLE
___BUDGET___ ___ACTUAL (UNFAVORABLE)
------- -------------
REVENUES
� Taxes 550,000 556,404 6,404
Interest 36,437 37.319 882
------------ ------------ -------------
TOTAL REVENUES 586,437_ ____593,722_ _______7.285_
� EXPENDITURES
Current
Generai government ____205,300_ ____183,556 ______21 ,744_
-----
� TOTAL EXPENDITURES ____205,300_ 183,556 ______21 ,744_
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES ____381 , 137 ____410, 166_ ______29,029
� NANCING SOURCES (USES)
OTHER FI <552,244> <552,244> 0
Transfer out
� TOTAL OTHER FINANCING SOURCES _-_-
(USES) <552,244> <552,244> 0
------------ ------------ ---------
� EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES ___< 171 , 107> < 142,078> 29,029
�
�
�
�
�
�
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
�
� .
42
�
DOWNTOWNiB�1S�NESSPDIST��CTe�P�CMALS�EVENUE FUND
� STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
�
VARIANCE
BUDGET ACTUAL (UNFAVORABLE)
� ------------ ------------ -------------
REVENUES
Taxes 23,639 19,653 <3,986>
Interest 1 ,088 1 , 168 80
� TOTAL REVENUES _____24,727_ _____20,821_ ______<3,906>
� EXPENDITURES
Current
Cortxnunity development 81 ,280 80,978 302
Debt service
------------ ------------ -------------
TOTAL EXPENDITURES 81 ,280 80,978 302
� ------------ ------------ -------------
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNOER) EXPENDITURES <56,553> <60, 157> <3,604>
------------ ------------ -------------
� OTHER FINANCING SOURCES (USES)
Proceeds of debt financing 42,580 42,580 0
------------ ------------ -------------
� TOTAL OTHER FINANCING SOURCES
• (USES) 42,580 42,580 0
------------ ------------ -------------
EXCESS OF REVENUES AND OTHER FINANCING
� SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES < 13,973> < 17 577> <3,604>
____________ ____________ _____________
�
�
�
�
�
�
� THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
43
�
�
� City of Caee Girardeau Missouri
PARKS AND RECREATION SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENOITURES -
BUDGET (GAAP BASIS AND ACTUAL
FOR THE FISCAL YEAR EN�ED JUNE 30, 1989
�
VARIANCE
� FAVORABLE
BUDGET ACTUAL __ (UNFAVORABLE)
------------ ---------- -------------
REVENUES
Intergovernmental 640 640 0
� Charges for services 133,400 130,436 <2,964>
Miscellaneous 13,510 10,304 <3,206>
Interest 15,000 15,941 941
------------ ------------ -------------
TOTAL REVENUES 162,550 157,321 <5,229>
------------ ------------ -------------
EXPENDITURES
Current
Culture and recreation 1 ,026,482 1 ,011 ,547 14,935
� ------------ ------------ -------------
TOTAL EXPENDITURES __1 ,026,482 __1 ,011 ,547_ ______14,935_
� EXCE55 (DEFICIENCY OF REVENUES
OVER (UNDER) EXP NDITURES ___<863,932> ___<854,226> _______9,706_
OTHER FINANCING SOURCES (USES)
� Transfers in 900,000 900,000 0
Proceeds from fixed assets _________50_ _________50_ ___________0_
TOTAL OTHER FINANCING SOURCES
(USES) 900,050 900,050 0
� ------------ ------------ -------------
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 36, 118 45,824 9,706
� ____________ ____________ _____________
�
�
�
�
�
�
� THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
44
�
�
� City of Cape Girardeau, Missouri
HEALTH SPECIAL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES -
BUOGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
�
VARIANCE
� FAVORABLE
BUDGET ACTUAL __ (UNFAVORABLE)
------------ ---------- -------------
REVENUES
� Texes 89, 152 90,312 1 , 160
Intergovernmental 3,424 3,424 0
Interest ______1 ,783_ __1 ,791_ ___________8_
TOTAL REVENUES 94,359 95,527 1 , 168
� ------------ ------------ -------------
EXPENDITURES
Current
Public safety 0 40 <40>
� Health 107,417 96,898 10,519
Debt service
Interest and fiscal charges 558 558 0
------------ ------------ -------------
TOTAL EXPENDITURES 107,975 97,496 10,479
� ------------ ------------ -------------
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES < 13,616> < 1 ,969> 11 ,647
------------ ------------ -------------
� OTHER FINANCING SOURCES (USES)
------------ ------------ -------------
TOTAL OTHER FINANCING SOURCES
� (USES) ------�- ---�- -----------�-
EXCE55 OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
IAND OTHER FINANCING USES ____< 13_616> _____< 1 ,969> ______11 ,647_
�
�
�
1
1
�
ITHE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
45
(
�
CitY of Caee Girardeau Missouri
� MOTOR FUEL TAX SPECIAL �2EVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES -
BUOGET (GAAP BASIS AND ACTUAL
FOR THE FISCAL YEAR EN�ED JUNE 30, 1989
�
VARIANCE
� FAVORABLE
___BUDGET___ ACTUAL (UNFAVORABLE)
------------ -------------
REVENUES
Intergovernmental 825,400 824,329 < 1 ,071>
� Interest 53,043 56,314 _______3.271_
TOTAL REVENUES 878,443 880,642 2, 199
------------ ------------ -------------
� EXPENOITURES
Current
Transportation 311 ,545 274,545 37,000
------------ ------------ -------------
TOTAL EXPENDITURES 311 ,545 274,545 37,000
� ------------ ------------ -------------
EXOVER (UNDERjEEXPENDITURESNUES 566,898 606,097 39, 199
------------ ------------ -------------
� OTHER FINANCING SOURCES (USES)
Transfer out <220,000> <20.000> 200,000
------------ ------------ -------------
� TOTAL OTHER FINANCING SOURCES
(USES) ___<220,000> ____<20,000> _____Z00,000
EXCESS OF REVENUES AND OTHER FINANCING
� SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 346,898 ____586,097_ _____239, 199_
�
�
�
�
�
�
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
�
46
�
�
� Cit f Ca G r rd , i ri
L���ARY g�EC�A� R���NU� F����
STATEMEN OF REVENUES AND EX ENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
�
VARIANCE
� FAVORABLE
___BUDGET___ ___ACTUAL___ (UNFAVORABLE)
REVENUES
-------------
Taxes , 305,537 309,792 4,255
� Intergovernmental 62,213 27, 183 <35,030>
Charges for services 7,880 9,284 1 ,404
Fines and forfeitures 9,520 10,044 524
Miscellaneous 1 ,840 13,894 12,054
Interest 22, 150 22,963 813
� ------------ ------------ --------�----
TOTAL REVENUES ____409, 140_ ____393, 159 _____< 15_981>
EXPENDITURES •
� Current
C�lture and recreation 398,421 397,264 1 , 157
Debt se�vice
Interest and fiscal charges 593 0 593
------------ ------------ -------------
� TOTAL EXPENDITURES ____399,014_ ____397,264_ _______1_750_
EXCESS (DEFICIENCY) OF REVENUES
� OVER (UNDER) EXPENDITURES _____10, 126_ _____<4, 105> _____< 14,231 >
OTHER FINANCING SOURCES (USES)
------------ ------------ -------------
� TOTAL OTHER FINANCING SOURCES
(USES) 0 0 0
------------ ------------ -------------
EXCESS OF REVENUES AND OTHER FINANCING
� SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES _____10, 126 <4, 105> < 14,231 >
�
#
1
t THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
�
�
47
�
�
� CitY of Cape Girardeau Missouri
FLOOD PROTECTION SPECIAL I�EVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
�
VARIANCE
� FAVORABI.E
___BUDGET ___ACTUAL___ (UNFAVORABLE)
---- -------------
REVENUES
Misceila�eous 890 890 0
� Interest 2,300 2,320 20
------3, 190- ------3�210- ----------20-
TOTAL REVENUES
------------ ------------ -------------
� EXPENDITURES
Current
General government 50,381 50,380
------------ ------------ -------------
TOTAL EXPENDITURES 50,381 50,380 1
� ------------ ------------ -------------
EXCESS (DEFICIENCY OF REVENUES
OVER (UNDER) EXP�NDITURES ____<47, 191 > ____<47, 170> __________21_
` OTHER FINANCING SOURCES (USES)
------------ ------------ -------------
TOTAL OTHER FINANCING SOURCES
� (USES)
----------�- ----------�- -------------
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
� AND OTHER FINANCING USES <47, 191 > <47 170> 21
____________ _______'_____ _____________
1
�
�
�
�
� THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
�
48
�
�
� City of Caee Girardeau Missouri
VISION 2000 SPEC�AL REVENUE FUND
STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENUED JUNE 30, 1989
�
VARIANCE
� BUDGET ACTUAL (UNFAVORABLE)
REVENUES
Miscellaneous 26,600 31 ,465 4,865
� Interest 900 __940_ 40
TOTAL REVENUES 27,500 32,405 4,905
------------ ------------ -------------
� EXRENDITURES
Current
Community development 18,249 26,812 <8,563>
------------ ------------ -------------
TOTAL EXPENDITURES 18,249 26,812 <8,563>
� ------------ ------------ -------------
EXOVER (UNDERjEEXP�NDITURESNUES 9,251 5,593 <3,658>
------------ ------------ -------------
� OTHER FINANCING SOURCES (USES)
------------ ------------ -------------
TO�USESjHER FINANCING SOURCES 0 0 0
� ------------ ------------ -------------
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENOITURES
� AND OTHER FINANCING USES 9,251 5,593 <3,658>
!
�
�
�
�
� THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
�
1
� 49
�
City of Cap Girardea Mis o ri
� RT. K LIGHTIN� SPECIAL ��VENU� F�UND
STATEMENT OF REVENUES AND EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDEO JUNE 30, 1989
�
VARIANCE
FAVORABLE
� ___BUDGET___ ___ACTUAL___ (UNFAVORABLE)
-------------
REVENUES
Miscellaneous 0 4,790 4,790
� Interest __________0_ 189 189
TOTAL REVENUES 0 4,979 4,979
------------ ------------ -------------
� EXPENDITURES
Current
------------ ------------ -------------
TOTAL EXPENDITURES 0 0 0
------------ ------------ -------------
� EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 0 4,979 4,979
------------ ------------ -------------
� OTHER FINANCING SOURCES (USES)
------------ ------------ -------------
TO�USESjHER FINANCING SOURCES 0 0 0
------------ ------------ -------------
� EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES 0 4,979 4,979
------------ ------------ -------------
------------ ------------ -------------
�
#
1
�
I
ITHE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
50
�
� City of Cape G r rdeat�. Missouri
DEBT SERV�C� FUND
STATEMENT OF REVENUES AN� EXPENDITURES -
BUDGET (GAAP BASIS) AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
�
VARIANCE
� FAVORABLE
___BUDGET___ ___ACTUAI.___ (UNFAVORABLE)
-------------
REVENUES
Taxes 222,962 224,848 1 ,886
� Intergovernmental 8,556 8'960 2 185
Interest ____279,775_ ____281 ,____ ,
TOTAI REVENUES 511 ,293 515,364 4,071
------------ ------------ -------------
� EXPENOITURES
Current
Principal 130,000 130,000 0
Interest and fiscal charges 733,918 745,710 < 11 ,792>
� TOTAL EXPENDITURES 863,918 875,710 <11 ,792>
------------ ------------ -------------
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNOER) EXPENDITURES <352,625> <360,346> <7,721 >
I ------------ ------------ -------------
� OTHER FINANCING SOURCES (USES)
Transfers in 573,244 573, 131 < 113>
1 Proceeds of debt financing _____78,739_ ____296,638_ _____217,899_
� TOTAL OTHER FINANCING SOURCES
(USES) 651 ,983 869,769 217,786
------------ ------------ -------------
� EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER EXPENOITURES
ANO OTHER FINANCING USES 299,358 509,423 210,065
I ------------ ------------ -------------
I
I
I
��
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF TH1S STATEMENT.
51
�
�
�
�
�
�
� FINANCIAL STATII�4IIVTS AND AUDITORS' REFORT
� CITY OF CAPE GIRAFtDEAU, MISSOURI
June 30, 1989
�
�
�
�
�
�
�
�
�
�
�
�
�
C O N T E N T S
�
� Page
FINANCIAL SEGTION
INDEPENDIIVT AUDITORS' REFORT g
� GIIVF�tAL PURPC)SE FINANCIAL STATIIKIIVTS
� G'OMBINID BALAI�iCE SHEEP - ALL FUND TYPES AND
LONG-TERM DEBT ACCOUNT GROUP g
� COI�lBINID STATII�IDVT OF R�;VENUFS AND Eh�IIVDITURES
AND F[JND BAI�ANCES - ALL GOVERNMIIVTAL F[1ND TYPES 10
COMBINID STATII�4IIVT OF REVIIJUES AND EX�'INDITURES -
� BUDGET (GAAP BASIS) AND AGTUAL - GETTERAL
AND SPECIAL REVE�IUE FUND TYPES 11
� COMBINID STATEMIIVT OF REVIIVUES AND �II�iDITURFS -
BUDGET (GAAP BASIS} a,ND AGTUAL - DEBT SERVICE
AND CAPITAL PROJECTS F[R1D TYPES 12
� COMBINID STA'I'IIKIIVT OF REVEN[JES AND E�IIVSES AND
RETAINID EARNINGS - ALL PR.OPRIETARY FUND TYPES 13
� GOMBINID STATIINIIVT OF CHANGES IN FINANCIAL POSITION -
ALL PROPRIETARY F[1ND TYPES 14
� NOTES TO FINANCIAL STATII�fIIV'I5 15
C,OMBINING AND INDIVIDUAL F[JND STATII�iQVTS
� GENIIZAI� FUND
STATII�VT OF R�.VIIJUES AND �II�iDITURES - BUDGEP
� (GAAP BASIS) AND ACTCTAL 38
SPECIAL REVIIVUE F[JNDS
� COMBINING BALANCE SHEET 39
� COMBINING STATIIriF�IT OF R,EVENUF.S AND EXPIIdDITURES
AND FUND BALANCE 40
� CONVIIVTION/TOtJRISM SPECIAL REVENUE FUND - STATE-
MENT OF REVEMTES AND �ENDITURES - BUDGEI'
(GAAP BASIS) AND AGTUAL 42
�
�
�
�
COI� TENTS
�
� Page
SPECIAL REVENUE FUNDS - Continued
� DOWNTOWN BUSINESS DISTRICT SPECIAL REVEN[IE FUND -
STATIIrIDV'P OF REVENUES AND �ENDITURES -
BUDG�I' (('�,AP BAS IS) AND AGT[JAL 4 3
� PARKS AND RECREATION SPECIAL REVENUE FUND -
STATII�IIIdT OF � �NUES AND EX�'EE[�TTDITURFS -
BUDGEr (GAAP BASIS) AND ACT'UAL 44
� F�'�AL,TH SPECIAL REVIIWE F�JND - STATII�IIVT OF R,E,VF�VUES
AND EXPINDITIJR.ES - BUDGET (GAAP BASIS) AND ACT[1AL 45
� MOTOR FUEL TAX SPECIAL REV�tUE FUND - STATII�4IIV'P OF
R.E;VIIViT��',S AND E�IIVDIT�JRES - BUDGET (GAAP BASIS)
AND ACTUAL 46
� LIBRARY SPECIAL R:EVENUE FUND - STATII�4IIVT OF
R,EVENUFS AND EXPEPi1DITIJRF..S - BUDGEI' (GAAP BASISI
� AND ACT[JAL 47
FI�OOD PR(�TECTION SPE�IAL REVE�IUE FUND - STATIlrIDVT OF
� R�E.VIIViJES AND EXPENDITURF.S - BUDGET (GAAP BASIS)
AND ACTIJAL 48
VISION 2000 SPECIAL R,EVII�IUE FUND - STA'I�IIKIIdT OF
� REVENtTF,S AND EXPIIVDI`IURES - BUDGET (C�P SASIS)
AND ACTIJAL 49
RT. K LI(�iTING SPECIAL REVENiTE F(JND - STATII�4IIVT OF
� REVE�IUES AND EXF'ENDITURES - BUDGET (GAAP BASIS)
AND ACTUAL 50
� DEBT SERVICE F[7ND
DEBT SE�ZVICE FUND - STATII�IDdT OF �
� AND �INDIT[IRES - BUDGEI' (GAAP BASIS� AND ACT'UAL 51
CAPITAL PRO.T�,'CTS FUNDS
� COMBINING BALANCE SHEEI' 52
� COMBINING STATII�4IIVT OF REVENUES AND �E�VDITURFS
AND FUND BALANCE 53
�
�
�
�
C O N T E N T S
�
� Page
CAPITAL PROJEGTS FUNDS - Continued
� GIIVERAL CAPITAL IMPROVII�IVT FUND - STATII�ENT OF
REVF�VtJES AND ExPIIVDIT[JRES - BUDGET (GAAP BASIS)
AND ACTUAL 54
� STREET IMPROVII�IIVTS F[JND - STATII�4IIVT OF REVEN[JES AND
F�ENDITIJRES - BUDGEI' (GAAP BASIS) AI�ID ACTUAL 55
� FAU STREET GRANTS FUND - STATII�IIVT OF R',EVII�1[JF'.S AND
F�ENDI'PUR.ES - BUDGET (GAAP BASIS) AND ACTUAL 56
� COhA1UNITY DEVIIAPMENT BLOCK GRANT FUND - STATII�VT OF
REVIIVUES AND �IIVDITURES - BUDGET (GAAP BASIS) AND
ACT[JAL 5 7
� PARK IMPROVII�4IIVTS FUND - STATIIrIDVT OF REVIIVUF'S AND
�EKDITURF�.S - BUDGET {GAAP BASIS) AND ACT[JAL 58
� ENTERPRISE FUNDS
COMBINING BALANCE SHEE"I' S9
� COMBINING STATII�fII�1T OF R,EVIIWES AND �II�1SES
AND RETAINID EARNINGS 61
� INTERNAL SERVICE FUNDS
COMBINING BALANCE SHE�.'r 62
� CONiBINING STATIIKIIJT OF RE.VEMJFS AND �IIJSES
AND RETAINID EARNINGS 63
� TRUST AND AGEI�ICY FtJNDS
� COMBINING BALANCE SHEET 64
SINGLE AUDIT SEGTION
� INDEPENDENT AUDITORS' REP'ORT ON SCHIDULE OF FIDERAI.,
FINANCIAL ASSISTANCE 65
� SCHIDULE OF FIDERAI., FINANCIAL ASSISTANCE 66
I
I
�
�
� C 0 N T E K T S
� Page
SINGLE AUDIT SECTION - Continued
� INDEPII�IDIIVT AUDITORS' REPC)RT ON COMPLIANCE WITH LAWS
AND REGULATIONS BASID ON AN AUDIT OF FINANCIAL
� STATII�4IIVTS PERFORMID IN ACCORDANCE WITH GOV�III�1T
AUDITING STANDARDS ISSUED BY `I'HE GAO 68
INDF,PEE[�11DENT AUDITORS' REFORT ON COMPLIANCE WITH THE
GIIVER�L RFJQiJIRIIKIIVTS APPLICABLE TO MAJOR FEDgtAI�
� FINANCIAL ASSISTANCE P� 70
� INDEPFNDII�T AUDITORS' REPORT ON COI�LIANCE WITH
SPECIFIC REQUIRIIrIDVTS APPLICABLE TO MAJOR FIDE�tAL
FINANCIAL ASSISTANCE PROGRAMS 71
� INDEPIIVDENT AUDITORS' REPORT ON COMPLIANCE WITH
REI�UIREt�NTS APPLICABLE TO NONMAJOR FIDgtAL
FINANCIAL A,SSISTANCE PRiOGRAMS 72
� INDEPENDENT AUDITORS' REPC)RT ON IN'I'ERNAL CONTROL
STRUCPURE RELATID MATTERS NOTID IN A FINANCIAL
� STATEt�i'P AUDIT CONDUCTID IN ACCORDANCE WITH
GOVERNMII�ITAL AUDITING STANDARDS 73
� INDEPIIVDENT AUDITORS' REPORT ON INTERNAL CON'Pf�OLS
(ACCOUNTING �,ND ADMINISTRATIVE) - BASID ON A STUDY
AND EVALUATION MADE AS A PART OF AN AUDIT OF TE�
GINERAL PURPOSE FINANCIAL STATII�iIIV'I'S AND THE
� ADDITIONAL, TESTS R�Qi1IRED BY THE SINGLE AUDIT ACT 75
SUPPLIIKII�TAL INFORMATIOI�
� STATIIrIDVT OF INSURANCE COVERAGE 79
�
I
I
I
�
� KERBER, ECK & BRAECKEL
CERTIFIED PUBLIC .�CCOUNTANCS
1221 BROADWAY
OFFICES IN MEMBEiLS M/ERICAN
� GPE GIRARDEAU, MISSOURI GPE GIRARDEAU, MISSOURI 63701 �Ng��OF CERTIFIED
Si. LOUIS. MLS'SOl1Ri PUBLIC ACCAUNTANTS
SPRINf3F1E1.D. 1 W NOIS
MILWAUKEE, WIS(�pNSIN 314-334-0588
� WASHWGTON,D.0
� Independent Auditors' Report
Honorable Mayor and Members of the
� City Council
City of Cape Girardeau, Missouri
� We have audited the accompanying general purpose financial sta.tements and the
combining and individual fund and account group financial statements of the
City of Cape Girardeau, Missouri as of June 30, 1989, and for the year then
� ended. These financial statements are the responsibility of the City of Cape
Gira.rdeau, Missouri's mariagement. Our responsibility is to express an opinion
on these financial statements based on our audit.
� We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial sta.tements are free of
� material missta.tement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial sta.tements. An audit
also includes assessing the accounting principles used and significant
� estimates ma�le by management, as well as evaluating the overall financial
sta.tement presentation. We believe that our audit provides a reasonable basis
for our opinion.
� 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
Iin the General Fixed Asset Account Group is not known.
In our opinion, except for the effects on the financial statements of the
omission described in the preceding garagraph, the general purpose financial
statements referred to above present fairly, in all material respects, the
financial position of the City of Cape Girardeau, Missouri as of June 30, 1989,
and the results of its operations and changes in financial position of its
proprietary fund types for the year then ended in conformity with generally
accepted accounting principles. Also, in our opinion, the combining and
individual fund and account group financial statements referred to above present
fairly, in all material respects, the financial position of each of the indi�,•i-
dual funds and account groups of the City of Cape Girardeau, Missouri as of
June 30, 1989, and the results of operations of such funds and changes in
financial position of individual proprietary funds for the year then ended in
conformity with generally accepted accounting principles.
6
�
Our audit was made for the purpose of forming an opinion on the general purpose
� financial sta.tements taken as a whole and on the combining, individual fund,
and 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 pa,rt of the financial
statements of the City of Cape Girardeau, Missouri. Such information ha.s been
subjected to the auditing procedures applied in the audit of the general
purpose, combining, individual fund, and individua,l 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 individua.l funds
and account groups, taken as a whole.
�
�,�,�C,t� Z:t��Z f c�—�
�
� Cape Girardeau, Missouri
September 15, 1989
�
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ASSETS
Cash and investments
Grants receivable
Special assessments receivable
Interest receivable
Notes receivable
Restricted cash and investments
LIABILITIES AND FUND EQUITY
Accounts payable
Interest payable
Due to other governments
Due to other funds
Deferred revenue
Fluid balance
Reserved
Unreserved
General
Capital
Improvements
Fund
90,357
0
0
0
0
374,215
464,572
8,878
0
0
0
0
City of Cape Girardeau, Missouri
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
June 30, 1989
Street FAU Street CDBG
Improvements Grants Grants
Fund Fund Fund
------------- ------------- ----------
374,`215 r'
81,479'
455,694
464,572
0
0
399,002
11,33.1
0
1,800,625
2,210,938
0
79,622
45,759
0
0
0
125,381
0
5,841
0
0
240,301
9,295
255,437
Park
Improvements
Fund
45,663
0
0
0
0
0
45,663
Totals
(Memorandum
Only)
136,020
85,463
444,761
11,311
240,301
2,184,135
3,101,991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
52
0
0
306
35,778
26,594
0
0
1,442
1,442
0
0
95,000
0
95,000
0
20,575
40,251
5,841
0
0
66,667
438,807
393,048
45,759
0
1,800,625 or
0
9'295
145,301xi
0 /
45,357 t/
2,184,1'35
280,162
(31,346)x''
39,371:
-----------
----------- -----------
1,769,279
----------------------
-----------
39,371.
-----------
_
3.54,596
--
45,357
2,164,2
2,210,938
125,381
255,437 --
--45,663
--3,101,991
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
52
City DfCapeGiorarrEdeau Missouri
COMBINING STATEMENTFOR OFISCALNYEARAENDEDP UNE'.fi30ES1989 FUND BALANCE
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
53
TOTALS
(MEMORANDUM ONLY)
GEN CAP
STREET
IMPROVEMENT
FAU STREET
GRANTS,
CABG
GRANTS
PARK -----------------------
IMPROVEMENT
1988-89
IMPROVEMENT
-
REVENUES
0
0
----------
8,959
----------
3F;g,690
0
0
368,650
Intergovernmental
p
0
0
8,373
Charges for services
Miscellaneous
0
31,762
8,373
13,886
0
3,900
3,066
--
4,496
----------
57,110
_
-------
----434,139
Interest
Interest
------
31,762
-----------
22,259
----------
12,858
--362,7
3Eit.,763
4,496 -
-----------
TOTAL REVENUES
EXPENDITURES
Current169,225
291,497
8,700
384,849
84,935
939,206
Capital outlay
Debt service
19,450
80,968
5,250
9,398
0
115,066
---- 115_0 --
Interest and fiscal charges
------------
-----------
----------
13,949
-----'-----
c
3.34,247
---84,935-
84,93
1,054,272
TOTAL EXPENDITURES
188,676
372,465
_-
-------__--
EXCESS (DEFICIENCY) OF REVENUES
<156,914>
<350,205>
<1,091>
.3-----
--------
----------
--<620,134>
-------
OVER (UNDER) EXPENDITURES
------------
-----------
----------
-----------
OTHER FINANCING SOURCES (USES)
0
100,000
23,250
76,050
95,000
294,313
<16,254>
Transfers in
<16,254>
0
0
0
2,392,604
Transfer out
Proceeds of debt financing
520,863
1,871,740
0
0
0
108.000
115,061
Proceeds from fixed assets
108,000
0
109,977
5,084
0
0
__
-----------
Special assessments ------------
-----------
----------
--- ------
--'-----
TOTAL OTHER FINANCING SOURCES
612,608
2,081,719
28,340
76,057
95,000
--2,893,724
--_
(USES)
EXCESS OF REVENUES AND OTHER FINANCING
1,731,513
27,249
44,573
14,561
2,273,590
ANDROTHERVFINANCINGIUSESS
455,694
FUND BALANCE AT BEGINNING OF YEAR,
0
37,766
12,122
110,023
30,796
190,707
------_----
AS ADJUSTED (NOTE K)
-----------
----------
----------
------------
YEAR
455,694
1,769,279
39,371
154,596
45,357
2.464,297
FUND BALANCE AT END OF
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
53
ASSETS
Cash and investments
Utility charges receivable (net of
allowance for doubtful receivables)
Grants receivable
Special assessments receivable
Interest receivable
Other receivables
Inventories
Restricted cash and investments
Prepaid expenses
Property, plant and equilxmnt
Land
Buildings
Improvements other buildings
Equipment
Construction in progress
Less accumulated depreciation
City of Cape Girardeau, Missouri
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
June 30, 1989
Sewer Solid Waste Golf Course
Fund Fund Fund
Totals
Airport (Memorandum
Fund Only)
59,008
0
0
16,657
75,665
160,141
154,905
0
0
315,046
50,000
0
0
19,149
69,149
5,245
0
0
0
5,245
25,841
5,534
0
0
31,375
124
3
163
19,157
19,447
0
0
4,091
0
4,091
3,534,724
709,658
0
53,881
4,298,263
106,938
32,994
483
2,971
-----------
143,386
-----------
-----------
3,942,021
-----------
903,094
-----------
4,737
111,815
4,961,667
24,750
55,921
0
354,649
435,320
8,055,235
548,746
1,500
813,919
9,419,400
7,576,659
0
210,227
3,197,969
10,984,855
559,691
1,159,104
187,223
41,954
1,947,972
1,583,059
0
3,591
282,071
-----------n
1,968,721
-----------
17,899,394
-----------
1,763,771
--------`--
402,541
4,690,562
24,756,268.
5,255,702
542,225
123,794
-----------
2,254,471
-----------
8,176,192
-----------
-----------
12,643,692
-----------
1,221,546
278,747
2,436,091
16,580,076
16,585,713
2,124,640
283,484
2,547,906
21,541,743
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
59
LIABILITIES AND FUND EQUITY
Accounts payable
Accrued liabilities
Payroll,payroll tales and benefits
Interest payable
Other liabilities
Due to other funds
Revenue bonds payable
Lease purchase obligation payable
Lease purchase bonds payable
Deferred revenue
Fund equity
Contributed capital
Retained earnings
Reserved
Unreserved
City of Cape Girardeau, Missouri
ENTERPRISE FUNDS
COMBINING BALANCE SHEET - CONTINUED
June 30, 1989
Sewer Solid Waste Golf Course
Fund Fund Fund
Totals
Airport (Memorandum
Fund Only)
90,470
168,855
23,715
16,149
299,189
28,073
39,078
5,560
2,484
75,195
89,201
32,990
5,678
0
127,869
33,881
0
0
0
33,881
0
500,279
26,026
0
526,305
1,320,000
0
0
0
1,320,000
198,670
113,198
217,907
0
529,775
4,366,777
1,399,557
0
0
5,766,334
0
0
0
578
578
1,102,783 v` 0 0 255,206 1,357,989
3,534,724 709,658 0 53,881 4,298,263
5,821,134 (838,975) 4,598 2,219,608 7,206,365
----------- ----------- ---------- " -----------
10,458,641V (7.29,317) 4,598 2,528,695 ' 12,862,617
16,585,713 2,124,640 283,484 2,547,906 21,541,743
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
60
OPERATING REVENUES
Federal grants
State grants
Residential charges
Commercial charges
Transfer station charges
Equipment sales
Concession revenues
Golf course fees
Other fees and charges
Rental revenue
Donations
Other miscellaneous
Interest income
OPERATING EXPENSES
Personnel services
Materials and supplies
Contractual services
General operating expenses
Special projects expense
Internal service expenses
Depreciation expense
OPERATING LOSS
NON-OPERATING EXPENSES
Issuance cost amortization
.Interest and handling costs
City of CEgyp,p�r1�EdpaH,,Mi55ouri
COMBINING STATEMENT OF REVENUES AND EXPENSES AND RETAINED EARNINGS
FOR THE FISCAL YEAR ENDED JUNE 30, 1989
SEWER
0
0
734,876
504,3866
0
0
0
29,5030
1,6507
76,588
1,347,010
442,756
50,313
184,139
84,506
6,138
154,341
443,806
1,366,000
------------
<18,990>
5,472
236,097
241,569
INCOME (LOSS) BEFORE OPERATING TRANSFERS <260,558>
OTHER FINANCING SOURCES (USES)
Transfers in
Compensation for damages
Sewer assessments
NET INCOME (LOSS)
RETAINED
USTED EARNINGS ATKBEGINNING OF YEAR,
RETAINED EARNINGS AT END OF YEAR
95,0000
1,376
------------
96,376
------------
<164,182>
SOLID WASTE
-----------
0
689,656
492,240
152,3390
0
0
0
2,535
0
70,117
1,406,969
GOLF COURSE
0
0
0
0
9,440
36,894
234,4570
0
1,948
1,112
283,852
AIRPORT
------------
170,735
1,539
0
0
0
0
0
0
9,990
74,823
1,030
15
6,177
264,399
TOTALS
(MEMORANDUM ONLY)
-----------------
1988-89
170,735
1,606
1,424,531
996,626
152,339
9,440
36,894
234,457
39,493
77,358
1,000
3,754
153,994
3,302,230
615,945
116,938
42,260
1,217,899
54,113
72,420
10,426
187,272
376,767
46,313
206,132
813,351
42,938
4,653
1,083
133,180
0
0
27,383
33,521
231,847
29,146
5,249
420,584
121,225
38,134
------------
143,076
------------
746,242
------------
----------
1,442,835
----------
307,604
------------
4351610
------------
3,552,049
------------
<35,866>
<23,752>
<171,211>
<249,819>
5,572
130,272
------------
135,844
------------
<171,710>
0
0
0
-----------
0
<171,710>
0
18,719
18,719
<42,471>
0
0
0
0
<42,471>
0
3,535
------------
3,535
------------
<174,746>
50,000
0
50,163
<124,584>
11,044
388,623
------------
399,667
------------
<649,486>
145,0060
1,376
------------
146,539
<502,947>
9,520,040 42,393 47,069 2,398,073 12,007,575
--- ---f.---- ------------------------- ------------ ------------
9,355,858
< <129,317>
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
61
4,598
2,273,489
11,504,628
City of Cape Girardeau, Missouri
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
June 30, 1989
Department of Transportation
Federal
Program
Federal Aviation Administration
CFDA
or Award
Balance
Federal Grantor/Pass-Through Grantor./Title
Number
Amount
June 30, 1988
Department of Housing and Urban Development
Sobriety Checkpoint 88-03-18
Passed through Missouri Department of
3,500
Cape Girardeau Comprehensive Community
Economic Development
Traffic Safety 88-90-09-02
20.600
75,000
Community Development Block Grant
Traffic Safety 89-90-09-03
CDA -104-66; 86 -ED -11
14.219
$ 293,365
$ (6,594)
Community Development Block Grant
Department
CDA -213-65; 86 -ED -10
14.219
205,000
(2,752)
Community Development Block Grant
52,500
Public Taxi Coupon Transportation Program
CDA -106-56; 87 -ED -06
14.219
316,868
(25,785)
Community Development Block Grant
FAUP Grant - M-1518(002)
CDA -104-43; 86 -ND -09
14.219
314,000
(9,661)
Community Development Block Grant
FAUP Grant - M-1505(003)
20.205
-
CDA -252-53; 88 -ED -09
14.219
487,900
Total tJ.S. Department of Housing and Urban Development
1,647,133
(44,792)
Department of Transportation
Federal Aviation Administration
Air Traffic Services DTFA09-85-020307
146,591
Airport Master Plan 3-29-0013-03
55,755
Passed through Missouri Department of Public Safety
Sobriety Checkpoint 88-03-18
20.600
3,500
Cape Girardeau Comprehensive Community
Traffic Safety 88-90-09-02
20.600
75,000
Cape Girardeau Comprehensive Community
Traffic Safety 89-90-09-03
20.600
75,000
Passed through Missouri Highway and Transportation
Department
Public Taxi Coupon Transportation Program
MO-18-X007-4CG
20.509
52,500
Public Taxi Coupon Transportation Program
MO -18 -X005 -4C2
20.509
52,500
Federal Aid Urban Program
FAUP Grant - M-1518(002)
20.205
-
FAUP Grant - M-1505(001)
20.205
-
FAUP Grant - M-1505(003)
20.205
-
Total U.S. Department of Transportation 460,846
GTI
Disbursements/
Receipts Expenditures
5,841
214,311
138,430
358,582
146,090
24,645
411
17,218
44,010
52,500
(85,051) -
(96,862) -
8.959
(181,913) 293,833
$ 186
9,324
220,457
143,276
1.0,491
383,734
146,090
27,383
411
17,218
44,010
189,645
963
19,628
15,132
460,480
Balance
June 30, 1989
$ (6,780)
(6,235)
(31,931)
(14,507)
(10,491)
(69,944)
(2,738)
(137,145)
(963)
(85,051)
(116,490)
(6,173)
(348,560)
Federal Grantor/Pass-Through Grantor/Title
Department of Justice
Passed through Missouri Department of Public Safety
Victim/Witness Assistance
TOTAL, FEDERAL ASSISTANCE.
67
City
of Cape Girardeau,
Missouri
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE - CONTINUED
June 30, 1989
Federal
Program
CFDA
or Award
Balance
Disbursements/
Balance
Number_,
Amount
June 30, 1988 Receipts_
Exnend:i.tures
June 30, 1989
15,916
4,498
4,498
6,115
_tel_ 617)
$2,112,477
---------
$(226,705) $ 656,913
-------- ---------
$ 850,329
---------
$(420,121)
--------
City of Cape Girardeau, Missouri
STATEMENT OF INSURANCE COVERAGE
For Year ended June 30, 1989
Issue Date
Expiration Date
Company and Policy Number.
December 1, 1988
December 1, 1991
The Aetna Casualty and Surety
Company; Bond # 51F100548939 BCA
August 1, 1988
August 1, 1989
Hartford Accident, and Indemnity
Company; Policy # 37-W7.-AD8316
July 1, 1988
July 1, 1989
Hartford Steam Boiler Inspection
and Insurance Company;
Policy # SL -9223237-1.5
April 1, 1989
April 1, 1990
U.S. Fidelity and. Guaranty Company;
Policy # IAB -11259790300
June 30, 1988
June 30, 1989
General Insurance Company of America;
Policy # API 093842
August 28, 1988
August 28, 1989
The Aetna Casualty and Surety
Company; Bond # 5100198828
August 29, 1.988
August 29, 1989
U.S. Fiedlity and Guaranty Company;
Policy # 108250131
July 1, 1988
July 1, 1989
United States Fidelity and Guaranty
Company; Policy # 10824069300
March 8, 1989
March 8, 1990
Commercial Union Insurance Company;
Policy # CTU893969
September 29, 1987
September 29, 1990
Aetna Casualty and Surety Company;
Bond # F100458137
June 1, 1989
Julie 1, 1990
The Association Professional
Liability Insurance Plan;
Policy # 97N-6000717
May 8, 1989
May 8, 1990
Hanover Insurance Company;
Policy # ZDL-239-22-90
January 1, 1989
January 1, 1990
Missouri Public Entity Risk
Management Fund; Policy # 1049
April 10, 1989 July 1, 1990 Hartford Accident and Indemnity
Comp,my; Policy # 84 -SR -961027
79
Employee dishonesty; City Manager, $50,000;
Comptroller., City Collector/Treasurer,
and City Clerk, $40,000
Workmen's compensation and employers liability -
statutory
Sewage treatment plant - $1,000,000 limit;
$1,000 deductible
Automobile insurance - liability $800,000 per
accident, full comprehensive and collision coverage;
uninsured motorist, $25,000 per accident
Airport liability and property damage, $1,500,000
for each occurrence
Surety Bond - Assistant City Manager., $40,000
Contractor equipment
Mobile Property Floater policy - radios,
$206,966; $100 deductible
Cape Girardeau Municipal Band, musical. instruments
floater, $14,184
Public Employee Blanket Bond, $20,000'
Liability, $1,000,000; $2,500 deductible
Cape Girardeau Public Library buildings and contents
$1.,050,000 limit, 90% coinsurance on buildings,
$160,000 limit, 90% coinsurance on contents
Police Professional Liability, $10,000 deductible;
Public officials errors and omissions only, $10,000
deductible; general liability, $50,000 deductible;
$800,000 per occurrence
Cape Girardeau Police Reserves, $10,000 maximum;
$25 deductible
City of Cape Girardeau, Missouri.
STAT.E4ENT OF INSURANCE COVERAGE - CONTINUED
For Year ended June 30, 1989
Issue
Date
Expiration Date
_ Company
and Policy Number
_
July 22, 1988
July 22,
1989
Lumbermens Mutual Casualty Company;
Policy #
3AT-581-143-00
August
1,
1.988
August
1, 1989
Lumbermens Mutual Casualty Company;
Policy #
3VT-071-720-00
August
12,
1988
August
12, 1989
American
Security Insurance Company;
Policy #
290800906788
August
12,
1988
August
12, 1.989
American
Security Insurance Company;
Policy #
290800907088
August
1.2,
1.988
August
12, 1989
American
Security Insurance Company;
Policy #
290800906888
August
12,
1988
August
12, 1989
American
Security Insurance Company;
Policy #
290800906688
August
12,
1988
August
12, 1989
American
Security Insurance Company;
Policy #
290800906988
May 8,
1989
.July 1,
1989
The Aetna Casualty and Surety
Company;
Bond # F100399772
---- Coverage --- -- -----
E.D.P. Policy; $350,000 hardware; $150,000 software,
$1,000 deductible; $2,500 deductible for mechanical
breakdown
Blanket - various buildings and contents -
$11,774,976, 90% coinsurance; $25,000 deductible
Trickling filter building - Southeast Corner, Pacific
Street and Missouri Pacific Raill.road, $1.00,000;
$500 deductible
Garage and shop flood insurance - Southeast Corner.,
Cooper Street and Missouri. Pacific Railroad, $90,200;
$500 deductible
Pump station - Southeast Corner, Pacific Street and
Missouri Pacific Railroad, $100,000; $500 deductible
Laboratory building - Southeast Corner, Cooper Street
and Missouri Pacific Railroad, $100,000; $500 deductible
Vacuum/incinerator. - Southeast Corner, Pacific Street
and Missouri Pacific Railroad, $100,000; $500 deductible
Public Employee Blanket Bond, $1.0,000