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CITY OF CAPE GIRARDEAU, MISSOURI
Cape Girardeau, Missouri
For the Year Ended June 30, 2025
ANNUAL FINANCIAL REPORT
CITY OF CAPE GIRARDEAU, MISSOURI
TABLE OF CONTENTS
FINANCIAL SECTION Page No.
INDEPENDENT AUDITORS’ REPORT 1-3
REQUIRED SUPPLEMENTARY INFORMATION
MANAGEMENT’S DISCUSSION AND ANALYSIS 4-10
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS
STATEMENT OF NET POSITION 11
STATEMENT OF ACTIVITIES 12
FUND FINANCIAL STATEMENTS
GOVERNMENTAL FUNDS FINANCIAL STATEMENTS
BALANCE SHEET 13
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL
FUNDS TO THE STATEMENT FUNDS TO THE STATEMENT OF NET
POSITION 14
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES 15
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES 16
PROPRIETARY FUNDS FINANCIAL STATEMENTS
STATEMENT OF NET POSITION 17-18
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN
NET POSITION 19
STATEMENT OF CASH FLOWS 20-21
FIDUCIARY FUNDS FINANCIAL STATEMENTS
STATEMENT OF FIDUCIARY NET POSITION 22
STATEMENT OF CHANGES TO FIDUCIARY NET POSITION 23
NOTES TO BASIC FINANCIAL STATEMENTS 24-66
REQUIRED SUPPLEMENTAL INFORMATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES – BUDGET AND
ACTUAL – GENERAL FUND 67
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES – BUDGET AND ACTUAL
AIRPORT FUND 68
NOTES TO BUDGETARY COMPARISON SCHEDULES 69-71
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY
AND RELATED RATIOS – GENERAL DIVISION 72
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY
AND RELATED RATIOS – POLICE DIVISION 73
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY
AND RELATED RATIOS – FIRE DIVISION 74
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY
AND RELATED RATIOS – PUBLIC SAFETY DIVISION 75
SCHEDULE OF EMPLOYER CONTRIBUTIONS 76
SCHEDULE OF CHANGES IN THE CITY’S TOTAL OPEB
LIABILITY AND RELATED RATIOS 77
SUPPLEMENTARY INFORMATION
COMBINING BALANCE SHEET-NONMAJOR GOVERNMENTAL FUNDS 78-79
COMBINING STATEMENT OF REVENUE, EXPENDITURES,
AND CHANGES IN FUND BALANCES – NONMAJOR
GOVERNMENTAL FUNDS 80-81
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECTION
INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE FOR EACH MAJOR
PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE
REQUIRED BY THE UNIFORM GUIDANCE 82-84
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS 85-86
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 87-89
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 90
SCHEDULE OF FINDINGS AND QUESTIONED COSTS 91-92
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS 93
1
INDEPENDENT AUDITORS’ REPORT
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
Opinions
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, each major fund, and the aggregate remaining fund information of the
City of Cape Girardeau, Missouri, as of and for the year ended June 30, 2025, and the related notes
to the financial statements, which collectively comprise the City of Cape Girardeau, Missouri’s
basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the City of Cape Girardeau, Missouri
as of June 30, 2025, and the respective changes in financial position, and where applicable, cash
flows thereof for the year then ended in accordance with accounting principles generally accepted
in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities
under those standards are further described in the Auditors’ Responsibilities for the Audit of the
Financial Statements section of our report. We are required to be independent of the City of Cape
Girardeau, Missouri and to meet our other ethical responsibilities, in accordance with the relevant
ethical requirements relating to our audit. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for
the design, implementation, and maintenance of internal control relevant to the preparation and
fair presentation of financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the financial statements, management is required to evaluate whether there are
conditions or events, considered in the aggregate, that raise substantial doubt about the City of
Cape Girardeau, Missouri’s ability to continue as a going concern for twelve months beyond the
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financial statement date, including any currently known information that may raise substantial
doubt shortly thereafter.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report
that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute
assurance and therefore is not a guarantee that an audit conducted in accordance with generally
accepted auditing standards and Government Auditing Standards will always detect a material
misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud
is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control. Misstatements are considered
material if there is a substantial likelihood that, individually or in the aggregate, they would
influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government
Auditing Standards, we
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether
due to fraud or error, and design and perform audit procedures responsive to those risks.
Such procedures include examining, on a test basis, evidence regarding the amounts and
disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the City of Cape Girardeau, Missouri’s internal control.
Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluate the overall
presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the
aggregate, that raise substantial doubt about the City of Cape Girardeau, Missouri’s ability
to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit, significant audit findings, and certain internal
control related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis, budgetary comparison information, pension liability
schedules, and other post-employment benefit liability schedule on pages 4 through 10 and 67
through 77 be presented to supplement the basic financial statements. Such information is the
responsibility of management and, although not a part of the basic financial statements, is required
by the Governmental Accounting Standards Board, who considers it to be an essential part of
financial reporting for placing the basic financial statements in an appropriate operational,
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economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing
the information and comparing the information for consistency with management’s responses to
our inquiries, the basic financial statements, and other knowledge we obtained during our audit of
the basic financial statements. We do not express an opinion or provide any assurance on the
information because the limited procedures do not provide us with sufficient evidence to express
an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of Cape Girardeau, Missouri’s basic financial statements. The
accompanying budgetary comparison fund financial statements, combining nonmajor fund
financial statements and the schedule of expenditures of federal awards as required by Title 2 U.S.
Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, are presented for purposes of additional
analysis and are not a required part of the basic financial statements. Such information is the
responsibility of management and was derived from and relates directly to the underlying
accounting and other records used to prepare the basic financial statements. This information has
been subjected to the auditing procedures applied in the audit of the basic financial statements and
certain additional procedures, including comparing and reconciling such information directly to
the underlying accounting and other records used to prepare the basic financial statements or to
the basic financial statements themselves, and other additional procedures in accordance with
auditing standards generally accepted in the United States of America. In our opinion, the
budgetary comparison fund financial statements, combining nonmajor fund financial statements,
and the schedule of expenditures of federal awards are fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated January
29, 2026 on our consideration of the City of Cape Girardeau, Missouri’s internal control over
financial reporting and on our tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements and other matters. The purpose of that report is solely to describe
the scope of our testing of internal control over financial reporting and compliance and the results
of that testing, and not to provide an opinion on the effectiveness of the City of Cape Girardeau,
Missouri’s internal control over financial reporting or on compliance. That report is an integral
part of an audit performed in accordance with Government Auditing Standards in considering the
City of Cape Girardeau, Missouri’s internal control over financial reporting and compliance.
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Cape Girardeau, Missouri
January 29, 2026
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF CAPE GIRARDEAU, MISSOURI
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As management of the City of Cape Girardeau, Missouri, we offer readers of the City’s financial statements this
narrative overview and analysis of the financial activities of the City as of and for the fiscal year ended June 30,
2025. We encourage readers to consider the information presented here in conjunction with the financial statements
and related footnotes.
Financial Highlights
• The net position of the City at the close of the most recent fiscal year was $474.9 million.
• The combined City’s governmental fund balance s totaled $87.1 million. Approximately 20% of this total
amount, $17.5 million, may be used to meet the government’s ongoing obliga tions to citizens and creditors
in accordance with the City’s fund designation and fiscal policies.
• The City’ total net position increased $26.6 million, $12.7 million from the City’s “governmental
activities”, and $13.9 million from the “business-type activities”.
• At the end of the year, general fund balance r eserved for emergencies was $4.4 million.
• The City’s long-term debt decreased by $8.4 million.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City of Cape Girardeau’s basic financial
statements. The City of Cape Girardeau’s basic financial statements are comprised of three components: 1)
government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This
report also contains other supplementary information in addition to the basic financial statements themselves.
Government-wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the City of
Cape Girardeau’s finances, in a manner similar to a private-sector business.
The statement of net position presents all of the City’s assets, liabilities, and deferred outflows and inflows of
resources, with the difference between the four reported as net position. Net position is an important measure of the
City’s overall financial health. The increases and decreases in net position can be monitored to determine whether
the City’s financial position is improving or deteriorating.
The statement of activities presents information showing how the City’s net position changed during the most recent
fiscal year. All changes in the net position are reported as soon as the underlying event giving rise to the change
occurs, regardless of the timing of the related cash flows. Thus, revenues and expenses are reported in the statement
for some items that will only result in cash flows in future fiscal periods, e.g. uncollected taxes and earned but
unused vacation leave.
Both of the government-wide financial statements distinguish functions of the City of Cape Girardeau that are
principally supported by taxes and intergovernmental revenues (government activities) from other functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type activities).
The governmental activities of the City of Cape Girardeau include administrative services, development services,
parks and recreation, public safety, and public wo rks. The business-type activities of the City include sewer, water
and solid waste utilities, golf course, indoor sports complex and outdoor spor ts complexes operations.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for
specific activities or objectives. The City of Cape Girardeau, like other state and local governments, uses fund
accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the
City can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.
(see page 6)
CITY OF CAPE GIRARDEAU, MISSOURI
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Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental activities in the
government-wide financial statements. However, unlike the government-wide financial statement, governmental
fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of
spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a
government’s near-term financing requirements.
Because the focus of the governmental funds is narrower than that of the government -wide financial statements, it is
useful to compare the information presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. By doing so, readers may better understand
the long-term impact of the government’s near term financing decisions. Both the governmental fund balance sheet
and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a
reconciliation to facilitate this comparison between governmental funds and governmental activities.
The City of Cape Girardeau maintained 22 individual governmental funds during the current year. Information is
presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues,
expenditures, and changes in fund balances for the General Fund and Airport Fund which are considered, or have
been designated, to be major funds of the City. Data from the other governmental funds are combined into a single,
aggregated presentation.
Proprietary Funds
The City of Cape Girardeau maintains two types of proprietary funds. Enterprise funds are used to report the same
functions presented as business-type activities in the government-wide financial statements. The City used
enterprise funds to account for its sewer, water, and solid waste utilities and its golf course, indoor sports complex,
and sports complexes operations. Internal service funds are an accounting device used to accumulate and allocate
costs internally among the City’s various functions. The City uses internal service funds to account for operation of
its information technology systems, fleet management, self-insured employee benefits and workmen’s compensation
programs, and its internal equipment leasing program.
The City of Cape Girardeau maintained 6 individual proprietary funds during the fiscal year. Proprietary funds
provide the same type of information as the government-wide financial statements, only in more detail. The
proprietary fund financial statements provide separate information for the sewer, water, and solid waste utilities. All
of these are considered, or have been designated, to be major funds of the City. Data from the other proprietary
funds are combined into a single aggregated presentation. The internal service funds are combined into a single,
aggregated presentation in the proprietary fund financial statements.
Notes to the Financial Statements
Notes provide additional information that is essential to a full understanding of the data provided in the government -
wide and fund financial statements.
Other Information
In addition to the basic financial statements and accompanying notes, this report also contains certain required
supplementary information regarding budgetary and pension information. The combining statements for the
nonmajor funds and internal service funds are presented immediately following the required supplementary
information on pension benefits.
CITY OF CAPE GIRARDEAU, MISSOURI
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Government-Wide Financial Analysis
Net position may serve as a useful indicator of the City’s financial position. As of June 30, 2025, assets plus
deferred outflows of resources exceeded liabilities plus deferred inflows of resources by $474.9 million.
Net Position
The following table reflects the condensed schedule of net position as of June 30, 2025, and 2024.
At the end of the fiscal year, the City is able to report positive balances in all three categories of net position, both
for the government as a whole, as well as for its separate governmental and business -type activities.
The largest portion of the City’s net position, $331.3 million (69.8%), reflects its investment in capital assets, e.g.
land, construction in progress, buildings, improvements, machinery and equipment, infrastructure, less any related
debt used to acquire those assets that is still outstanding. The City uses these capital assets to provide services to
citizens; consequently, these assets are not available for future spending. An additional portion of the City’s net
position, $61.8 million (13.1%) represents resources that are subject to external restrictions on how they may be
used. The remaining balance of the City’s net position, $81.2 million (17.1%), represents unrestricted net position
that may be used to meet the City’s ongoing obligations to citizens and creditors.
Although the City’s investment in its capital assets is reported net of related debt, it should be noted that the
resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot
be used to liquidate these liabilities.
Assets 2025 2024 2025 2024 2025 2024
Current and other Assets 101,788,714$ 92,685,869 45,218,363 38,566,802 147,007,077 131,252,671
Capital Assets 243,038,014 245,042,638 178,453,707 176,294,190 421,491,721 421,336,828
Total Assets 344,826,728 337,728,507 223,672,070 214,860,992 568,498,798 552,589,499
Deferred outflows of resources
Deferred outflows of resources 10,157,081 8,692,014 1,267,565 845,188 11,424,646 9,537,202
Liabilities
Long-Term obligations 42,063,288 45,785,602 41,723,329 46,411,430 83,786,617 92,197,032
Other Liabilities 10,038,110 9,724,087 7,974,442 8,069,507 18,012,552 17,793,594
Total Liabilities 52,101,398 55,509,689 49,697,771 54,480,937 101,799,169 109,990,626
Deferred inflows of resources
Deferred inflows of resources 1,942,721 2,344,122 1,278,784 1,143,213 3,221,505 3,487,335
Net Position
Net investment in capital assets 205,136,845 202,029,285 126,130,770 119,269,826 331,267,615 321,299,111
Restricted 58,556,072 53,250,223 3,263,556 3,067,889 61,819,628 56,318,112
Unrestricted 37,246,773 33,287,202 44,568,754 37,744,315 81,815,527 71,031,517
Total net position 300,939,690$ 288,566,710 173,963,080 160,082,030 474,902,770 448,648,740
Government activities Business-type activities Total
City of Cape Girardeau Net Position
CITY OF CAPE GIRARDEAU, MISSOURI
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Governmental Activities
Governmental activities increased the City’s net position by $12.7 million. Activity in the following revenue and
expense items should be noted for the current fiscal year.
Revenues Governmental Fund activities:
• Total revenues from governmental activities totaled $74.6 million in 2025 and $81.7 million in 2024
decreasing $7.1 million due to a reduction in capital grants and contributions received during the fiscal
year.
• Taxes, the largest Governmental Revenue category, totaled $57.2 million in 2025 as compared to $56.6
million in 2024, representing a 1% increase.
• Sales, Use, and Property taxes totaled $20.5 million, representing 36% of taxes and an increase of less than
½%.
• Tax Initiative revenues representing Transportation Sales Tax, Capital Improvement Sales Tax,
Parks/Stormwater Sales Tax, Fire Sales Tax totaled $30 million, representing 35.8% of the Taxes Revenue
category and an increase of less than ½% in 2025.
Expenses Governmental Fund activities:
The largest expense of the Governmental Fund Activities is that of personnel pay and benefits. These expenditures
increased $734,071 in 2025 representing a 3% increase as per the pay plan adopted by the City at the beginning of
the fiscal year.
Operational Governmental Fund Expenses increased $803,350 in 2025 (7%) from the previous year.
The capital outlay for the current fiscal year decreased $8.5 million largely due to substantial completion of the
Airport Terminal.
Governmental Fund Activities included Debt Service principal and interest payments, totaling $4 million in 2025
and in 2024.
Business-Type Activities
Business-Type activities increased net position by $13.6 million. These proprietary funds provide the same type of
information found in the government-wide financial statements, but in more detail.
During the current fiscal year, the City experienced the following changes in its operating revenue:
• Sewer - $778,277 increase over prior year.
• Water - $584,970 increase over prior year.
• Solid Waste - $439,137 increase over prior year.
• Non-Major Funds (Golf Course, Indoor Sports Complex and Sports Complexes) $113,211 increase over
prior year.
Operating and Capital grants and contributions increased $2.1 million from the previous year.
The City implemented rate increases in Residential Water, Residential Trash and Commercial Water of 5% at the
beginning of the fiscal year.
The operating expenditures for the propriety funds increased $679,395.
CITY OF CAPE GIRARDEAU, MISSOURI
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Financial Analysis of the City’s Governmental Funds
As noted, the City of Cape Girardeau uses fund accounting to ensure and demonstrate compliance with
finance-related legal requirements.
As of June 30, 2025 the City’s governmental funds reported combined ending fund balances of $87.1
million, an increase of $7 million (8%) from the prior year. Unassigned fund balances which are
available for spending at the City’s discretion, account for $17.4 million (20%) of the total fund balances.
The remainder of the fund balances are classified as non-spendable, restricted, committed and assigned to
indicate that they are not available for new spending and are detailed below:
• Nonspendable $2.2 million because it is either not in a spendable form or legally or contractually
required to be maintained intact
• Restricted $58.6 million because it can be spent only for specific purposes due to restrictions by
external parties, constitutional provisions or enabling legislation
• Committed $5.7 million because it can only be used for specific purposes pursuant to constraints
imposed by formal action of the City Council
• Assigned $3.2 million because its expenditure is constrained by the City’s intent to use it for
specific purposes.
The General Fund is the chief operating fund of the City. At the end of the Fiscal year ending June 30,
2025 the unassigned fund balance was $19.6 million while the total fund balance was $24.6 million.
As a measure of liquidity, it may be useful to compare total governmental unassigned fund balance to
total governmental fund expenditures. Unassigned fund balance of total governmental fund balances
totals $17.4 million and represents 29% of total governmental fund expenditures.
Included in the restricted fund balance is $4.4 million which is the General Fund Reserve to meet the
required City Charter emergency reserve. This amount represents 15% of total general fund expenditures
and could be used if an emergency was declared by the City Council.
The Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance shows that
the total fund balance of the City of Cape Girardeau’s General Fund increased by $3.5 million as a result
of the current years activity.
The City of Cape Girardeau’s business-type activities are reported as proprietary funds and include
Sewer, Water and Solid Waste as major funds while Golf Course, Indoor Sports Complex and Sporting
Complex funds are reported as non-major funds.
General Fund Budgetary Highlights
Excess general fund revenues and unrestricted fund balances were used to fund all appropriations that did
not have an identified funding source.
CITY OF CAPE GIRARDEAU, MISSOURI
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Capital Assets and Debt Administration
Capital Assets
The City’s investment in capital assets for its governmental and business-type activities as of June 30,
2025 amounts to $412 million (net of accumulated depreciation). This investment in capital assets
includes land, buildings, improvements, furniture, machinery and equipment, infrastructure, and
construction in progress.
Major capital events during the current fiscal year funded by grants included the following:
• Completion of Airport Terminal Building totaling $12.9 million
• Reconstruction of Taxiway B totaling $5 million
• Construction of Airport T-Hangers totaling $3.3 million
Debt Administration
The City, at the end of fiscal year 2025, had total debt outstanding of $80.7 million. Bonded debt
outstanding totaling $43.8 million is secured by revenues of the sewer and water funds and capital
improvement sales taxes. The repayment of the remaining debt is subject to annual appropriations.
The City’s total long-term debt decreased by $8.4 million during the current fiscal year as a result of
regularly scheduled principal payments.
More information about the City’s outstanding debt can be found in the notes to the financial statements.
2025 2024 2025 2024
Public works 14,727,829$ 11,766,045 13,069,928 10,663,680
Public safety 20,247,604 20,200,775 19,338,876 19,095,348
Parks and recreation 8,142,121 7,534,099 5,720,226 5,153,568
Planning and development 8,531,042 8,069,969 4,492,742 (3,324,665)
Administrative 3,912,990 4,433,715 2,507,970 2,975,251
Interest and other charges 1,011,952 1,083,966 1,011,952 1,083,966
56,573,538$ 53,088,569 46,141,694 35,647,148
Total cost of service Net cost of service
Net Cost of City of Cape Girardeau's Governmental Activities
CITY OF CAPE GIRARDEAU, MISSOURI
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Economic Factors and the Next Year’s Budget
Local Retail Economy
Sales tax is a significant revenue source of the City and is a barometer of the local economy. In the
current year sales tax revenue from the general sales tax increased 1%.
The City began receiving Use Tax in March of 2022. The revenue has allowed the City to uphold the
promise of strengthening its employee pay and benefits, and in the current fiscal year the City increased
the stated pay plan rates by 3%. Use Tax revenue decreased $152 thousand (3%) during the current fiscal
year.
It is through conservative fiscal management that the City’s current financial position continued to
improve during the fiscal year ended June 30, 2025. The City maintains adequate fund balances to cover
existing claims, reduce long-term debt and fund potential emergencies.
The budget for the fiscal year ending June 30, 2026 was conservatively prepared expecting some
increases from inflation in expenditures and projecting revenues reflecting historical consistent revenue
trends. The budget is balanced by utilizing a minimal amount of reserves that have accumulated through
June of 2025.
Requests for Information
This financial report is designed to provide a general overview of the City’s finances. Questions
concerning any of the information provided in this report or requests for additional financial information
should be addressed to the Finance Director, City of Cape Girardeau, 44 N. Lorimier St., Cape Girardeau,
MO 63701.
BASIC FINANCIAL STATEMENTS
Governmental Business-Type
Activities Activities Total
Current Assets:
Pooled Cash and Investments 90,649,730$ 40,802,447$ 131,452,177$
Investments 411,582 - 411,582
Taxes Receivable 4,876,537 - 4,876,537
Utility Charges Receivable - 2,936,128 2,936,128
Special Assessments Receivable 316,209 998 317,207
Other Receivables 982,275 33,757 1,016,032
Motor Fuel Receivable 306,160 - 306,160
Grants Receivable 3,421,981 1,500 3,423,481
Lease Receivable 177,822 90,374 268,196
Inventory 307,927 972,649 1,280,576
Prepaid Items 692,632 26,369 719,001
Internal Balances (354,141) 354,141 -
Total Current Assets 101,788,714$ 45,218,363$ 147,007,077$
Noncurrent Assets:
Restricted Cash and Cash Equivalents 2,000$ 5,121,604$ 5,123,604$
Lease Receivable 654,873 1,043,204 1,698,077
Net Pension Assets 1,736,554 943,180 2,679,734
Land 6,950,644 1,985,018 8,935,662
Buildings, Net 63,993,041 13,100,729 77,093,770
Improvements, Net 21,268,989 142,516,327 163,785,316
Furniture, Machinery and Equipment, Net 11,323,677 5,863,783 17,187,460
Infrastructure and Improvements, Net 129,959,056 - 129,959,056
Construction in Progress 7,149,180 7,879,862 15,029,042
Total Capital Assets, Net 243,038,014$ 178,453,707$ 421,491,721$
TOTAL ASSETS 344,826,728$ 223,672,070$ 568,498,798$
Deferred Outflow from Pension Plan 9,332,295$ 1,107,790$ 10,440,085$
Deferred Outflow from Retiree Health Plan 824,786 159,775 984,561
Total Deferred Outflows of Resources 10,157,081 1,267,565 11,424,646
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF NET POSITION
June 30, 2025
ASSETS
DEFERRED OUTFLOWS
OF RESOURCES
See Accompanying Notes to the Basic Financial Statements.
11
Governmental Business-Type
Activities Activities Total
Current Liabilities:
Accounts Payable 4,405,145$ 1,247,074$ 5,652,219$
Salaries and Benefits Payable 1,004,175 264,890 1,269,065
Interest Payable 100,322 270,415 370,737
Other Liabilities 596,506 1,331,086 1,927,592
Estimated Claims 730,300 - 730,300
Unearned Revenues 279,062 325,577 604,639
Revenue Bonds Payable, Current Portion - 4,333,000 4,333,000
Special Obligation Bonds Payable Current Portion 2,922,600 202,400 3,125,000
Total Current Liabilities 10,038,110$ 7,974,442$ 18,012,552$
Long-Term Liabilities:
Revenue Bonds Payable -$ 39,521,582$ 39,521,582$
Special Obligation Bonds Payable 32,585,142 1,157,967 33,743,109
Compensated Absences Payable 1,394,501 169,224 1,563,725
Net OPEB Obligation 8,083,645 874,556 8,958,201
Total Long-Term Liabilities 42,063,288$ 41,723,329$ 83,786,617$
TOTAL LIABILITIES 52,101,398$ 49,697,771$ 101,799,169$
Deferred Inflow From Leases 765,277$ 1,073,936$ 1,839,213$
Deferred Inflow From Pension Plan 169,820 144,235 314,055
Deferred Inflow from Retiree Health Plan 1,007,624 60,613 1,068,237
Total Deferred Inflows of Resources 1,942,721$ 1,278,784$ 3,221,505$
Net Investment in Capital Assets 205,136,845$ 126,130,770$ 331,267,615$
Restricted 58,556,072 3,263,556 61,819,628
Unrestricted 37,246,773 44,568,754 81,815,527
TOTAL NET POSITION 300,939,690$ 173,963,080$ 474,902,770$
DEFERRED INFLOWS
OF RESOURCES
LIABILITIES
NET POSITION
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF NET POSITION
June 30, 2025
See Accompanying Notes to the Basic Financial Statements.
11
Operating Capital
Charges Grants and Grants and Governmental Business-Type
Expenses for Services Contributions Contributions Activities Activities Total
Governmental Activities:
Interest and Other Charges 1,011,952$ -$ -$ -$ (1,011,952)$ -$ (1,011,952)$
Development Services 8,531,042 2,071,317 309,488 1,657,495 (4,492,742) - (4,492,742)
Public Safety 20,247,604 363,508 477,497 67,723 (19,338,876) - (19,338,876)
Public Works 14,727,829 87,368 3,471 1,567,062 (13,069,928) - (13,069,928)
Parks and Recreation 8,142,121 1,986,451 100,080 335,364 (5,720,226) - (5,720,226)
Administrative 3,912,990 1,380,480 - 24,540 (2,507,970) - (2,507,970)
Total Governmental Activities 56,573,538$ 5,889,124$ 890,536$ 3,652,184$ (46,141,694)$ -$ (46,141,694)$
Business-Type Activities:
Golf Course Fund 908,120$ 951,258$ -$ 85,287$ -$ 128,425$ 128,425$
Indoor Sports Complex 1,379,969 926,005 - - - (453,964) (453,964)
Sewer Fund 10,381,001 9,023,272 529,974 2,141,998 - 1,314,243 1,314,243
Solid Waste Fund 5,876,298 6,893,892 90 - - 1,017,684 1,017,684
Sporting Complexes Fund 1,523,805 503,797 - 682,294 - (337,714) (337,714)
Water Fund 9,634,762 9,285,321 - 3,430,984 - 3,081,543 3,081,543
Total Business-Type Activities 29,703,955$ 27,583,545$ 530,064$ 6,340,563$ -$ 4,750,217$ 4,750,217$
Total Primary Government 86,277,493$ 33,472,669$ 1,420,600$ 9,992,747$ (46,141,694)$ 4,750,217$ (41,391,477)$
3,250,593$ -$ 3,250,593$
37,796,492 - 37,796,492
5,272,250 - 5,272,250
2,243,644 - 2,243,644
3,338,551 - 3,338,551
4,486,220 - 4,486,220
2,791,523 - 2,791,523
421,801 - 421,801
1,870,087 - 1,870,087
81,598 - 81,598
4,379,255 1,852,502 6,231,757
Gain (Loss) on Disposal of Capital Assets (71,072) 6,747 (64,325)
Compensation for Damages 1,937 - 1,937
136,403 112,488 248,891
(7,164,449) 7,164,449 -
Total General Revenues and Transfers 58,834,833 9,136,186$ 67,971,019$
Change in Net Position 12,693,139$ 13,886,403$ 26,579,542$
288,246,551 160,082,030 448,328,581
- (5,353) (5,353)
300,939,690$ 173,963,080$ 474,902,770$
Convention and Tourism Taxes
CITY OF CAPE GIRARDEAU, MISSOURI
Property Taxes
Sales Tax
Franchise Tax
Motor Fuel Taxes
STATEMENT OF ACTIVITIES
Year Ended June 30, 2025
Net (Expense) Revenue and
Change in Net Position
Functions/Programs
General Revenues:
Program Revenues
Taxes:
Use Tax
Net Position - July 1, 2024
Net Position - June 30, 2025
Other Taxes
Investment Income
Internal Balances
Merchant Licenses
Liquor Licenses
Gaming Taxes
Prior Period Adjustment
Settlements
See Accompanying Notes to the Basic Financial Statements.
12
FUND FINANCIAL STATEMENTS
Nonmajor Total
General Airport Governmental Governmental
Fund Fund Funds Funds
CURRENT ASSETS:
Pooled Cash and Investments 20,170,766$ 1,422,393$ 61,714,188$ 83,307,347$
Receivables:
Real Estate Taxes, Net 387,958 - 67,283 455,241
Property Taxes, Net 46,242 - 8,666 54,908
Sales Tax 1,243,599 - 2,076,522 3,320,121
Franchise Tax 395,870 - - 395,870
Use Tax 315,147 - - 315,147
Hotel and Motel Tax - - 121,812 121,812
Restaurant Tax - - 213,438 213,438
Special Assessments 306,958 - 9,251 316,209
Other 50,597 263,239 483,193 797,029
Motor Fuel Tax - - 254,608 254,608
Vehicle License Fees - - 37,627 37,627
Motor Vehicle Sales Tax - - 13,925 13,925
Grants 143,631 2,549,169 729,181 3,421,981
Other Funds 3,791,983 - - 3,791,983
Inventory 162 48,740 45,114 94,016
Prepaid Items 357,970 25,434 91,058 474,462
TOTAL CURRENT ASSETS 27,210,883 4,308,975 65,865,866 97,385,724
NONCURRENT ASSETS:
Advances to Other Funds -$ -$ 1,606,675$ 1,606,675$
TOTAL NONCURRENT ASSETS -$ -$ 1,606,675$ 1,606,675$
TOTAL ASSETS 27,210,883$ 4,308,975$ 67,472,541$ 98,992,399$
LIABILITIES:
Accounts Payable 568,120$ 1,314,897$ 2,425,936$ 4,308,953$
Salaries and Benefits Payable 762,150 28,398 136,742 927,290
Other Liabilities 524,459 70,465 1,582 596,506
Payable to Other Funds - 3,791,983 - 3,791,983
Unearned Revenues 19,328 1,900 137,682 158,910
Deferred Revenues 728,178 - 192,193 920,371
CURRENT LIABILITIES 2,602,235$ 5,207,643$ 2,894,135$ 10,704,013$
NONCURRENT LIABILITIES:
Advances from Other Funds -$ 1,146,976$ -$ 1,146,976$
TOTAL NONCURRENT LIABILITIES -$ 1,146,976$ -$ 1,146,976$
TOTAL LIABILITIES 2,602,235$ 6,354,619$ 2,894,135$ 11,850,989$
FUND BALANCE:
Nonspendable 480,599$ 25,434$ 1,697,733$ 2,203,766$
Restricted 4,471,179 - 54,084,893 58,556,072
Committed - - 5,669,459 5,669,459
Assigned 48,202 3,192,949 3,241,151
Unassigned 19,608,668 (2,071,078) (66,628) 17,470,962
TOTAL FUND BALANCE 24,608,648 (2,045,644) 64,578,406 87,141,410
TOTAL LIABILITIES AND FUND
BALANCE 27,210,883$ 4,308,975$ 67,472,541$ 98,992,399$
ASSETS
LIABILITIES AND FUND BALANCE
CITY OF CAPE GIRARDEAU, MISSOURI
GOVERNMENTAL FUNDS
June 30, 2025
BALANCE SHEET -
See Accompanying Notes to the Basic Financial Statements.
13
Total fund balance - total governmental funds
(Balance Sheet - Governmental Funds)87,141,410$
Amounts reported for governmental activities in the statement
of net position are different because:
Capital assets used in governmental activities are not current
financial resources and therefore are not reported in
the governmental funds balance sheet, net of accumulated
depreciation of $187,201,807.238,754,619
Internal service funds are used by management to charge the
costs of management information systems, fleet management,
employee fringe benefits, workmen's compensation, and
equipment replacement to the individual funds. Their assets
and liabilities are included in governmental activities in the
statement of net position.8,729,985
Assets, liabilities, and deferred inflows and outflows related
to the City's employee retirement plan are reported on a
net basis in government activities of the statement of net
position but are not included in the governmental funds
because they do not require the use of or provide current
financial resources.10,487,622
Accrued expenses which are included in governmental activities
in the statement of net position but not in governmental funds
because they are not payable from current financial resources.(150,227)
Non-current net OPEB obligation included in governmental
activities of the statement of net position for employee
post-retirement healthcare benefits is not included in
governmental funds because it does not require the use of
current financial resources.(8,031,308)
Lease receivables are not financial resources and therefore
are not reported in the governmental funds balance sheet.832,695
Deferred inflows relating to leases are reported in the government
activities of the statement of net position but are not included in
the governmental funds because they do not provide current
financial resources.(765,277)
Non-current compensated absences are not due and payable
in the current period and, therefore, they are not reported
in the governmental funds balance sheet.(1,352,306)
Long-term liabilities are not due and payable in the current
period and, therefore, they are not reported in the
governmental funds balance sheet.
Special Obligation Bonds Payable (35,507,742)
Assets included in governmental activities of the statement
of net position that are not available to pay for current-period
expenditures are offset by deferred revenues in governmental
funds.800,219
Net position of governmental activities (Statement of Net Position)300,939,690$
CITY OF CAPE GIRARDEAU, MISSOURI
RECONCILIATION OF THE GOVERNMENTAL FUNDS
BALANCE SHEET TO THE STATEMENT OF NET POSITION
June 30, 2025
See Accompanying Notes to the Basic Financial Statements.
14
Nonmajor Total
General Airport Governmental Governmental
Fund Fund Funds Funds
REVENUES:
Taxes 27,116,972$ -$ 30,106,304$ 57,223,276$
Licenses and Permits 2,200,888 - - 2,200,888
Intergovernmental 571,966 1,900,267 3,146,699 5,618,932
Charges for Services 162,239 712,662 1,867,634 2,742,535
Internal Charges 1,446,453 - - 1,446,453
Fines and Forfeits 250,592 - - 250,592
Miscellaneous 369,134 410,552 187,053 966,739
Investment Revenue 1,027,374 119,341 2,941,553 4,088,268
Special Assessments 55,843 - 4,449 60,292
TOTAL REVENUES 33,201,461$ 3,142,822$ 38,253,692$ 74,597,975$
EXPENDITURES:
Current:
Administrative Services 3,721,303$ -$ 111,120$ 3,832,423$
Development Services 2,837,567 2,333,880 1,947,368 7,118,815
Parks and Recreation 1,790,567 - 3,710,248 5,500,815
Public Safety 19,276,192 - 663,565 19,939,757
Public Works 2,520,294 - 190,449 2,710,743
Debt Service:
Interest - - 1,064,318 1,064,318
Principal - - 3,012,968 3,012,968
Capital Outlay:
Administrative Services - - 40,085 40,085
Development Services - 4,399,203 286,782 4,685,985
Capital Improvements - - - -
Parks and Recreation 2,300 - 1,122,595 1,124,895
Public Works 6,734 - 10,149,121 10,155,855
Public Safety 457,166 - 514,964 972,130
TOTAL EXPENDITURES 30,612,123$ 6,733,083$ 22,813,583$ 60,158,789$
REVENUES OVER (UNDER)
EXPENDITURES 2,589,338$ (3,590,261)$ 15,440,109$ 14,439,186$
OTHER FINANCING SOURCES (USES):
Transfers In 6,473,344$ 865,327$ 7,200,168$ 14,538,839$
Transfers Out (5,672,004) - (16,771,284) (22,443,288)
Compensation for Damages 1,937 - - 1,937
Settlements 136,403 - - 136,403
Gain (Loss) from Sale of Asset 21,841 - 26,265 48,106
Capital Contributions - - 316,146 316,146
TOTAL OTHER FINANCING SOURCES
(USES)961,521$ 865,327$ (9,228,705)$ (7,401,857)$
NET CHANGE IN FUND BALANCES 3,550,859$ (2,724,934)$ 6,211,404$ 7,037,329$
FUND BALANCE, July 1, 2024 21,057,789 679,290 58,367,002 80,104,081
FUND BALANCE, June 30, 2025 24,608,648$ (2,045,644)$ 64,578,406$ 87,141,410$
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - GOVERNMENTAL FUNDS
Year Ended June 30, 2025
See Accompanying Notes to the Basic Financial Statements.
15
Net Change in fund balances - total governmental funds (Statement of Revenues,
Expenditures, and Changes in Fund Balances - Governmental Funds)7,037,329$
Amounts reported for governmental activities in the statement of
activities are different because:
Governmental funds report capital outlay as expenditures. However,
in the government-wide statement of activities and changes in net position,
the cost of those assets is allocated over their estimated useful lives
as depreciation expense. This is the amount of capital assets expended
in the current period.10,955,514
Depreciation expense on capital assets is reported in the government-
wide statement of activities and changes in net position, but it
does not require the use of current financial resources. Therefore,
depreciation expense is not reported as an expenditure in governmental funds.(11,791,527)
In the statement of activates, only the loss from the sale of capital assets is
reported, whereas in the governmental funds, the proceeds from the sale
increase financial resources. Thus, the change in net position differs from
the change in fund balance by the net book value of the capital assets sold.(119,193)
Changes in the net OPEB obligation related to the cost of providing future
post-retirement healthcare costs to the City's employees that do not
require current financial resources are reported on the statement of
activities but not in the governmental funds.493,112
Changes in compensated absences does not require the use of current financial
resources and is therefore not reported as expenditures in governmental funds. (64,716)
Revenues in the statement of activities that do no provide current financial
resources are not reported as revenues in governmental funds.847,792
Changes in the assets, liabilities, and deferred inflows and outflows related to the
city's employee retirement plan that occurred during the current year that do
not require current financial resources are reported on the statement of
activities but not in the governmental funds. 88,636
The receipt of lease revenue is recorded in the governmental funds, while
the collection of lease payments reduces the lease receivable in the
governmental statement of net position.28,861
The issuance of long-term debt (e.g. bonds) provides current financial resources
to governmental funds, while the repayment of the principal of long-term
debt consumes the current financial resources of governmental funds. Neither
transaction, however, has any effect on net position. Also, governmental funds
report the effect of issuance cost, premium, discounts, and similar items when
debt is first issued, whereas the amounts are deferred and amortized in the
statement of activities. This amount is the net effect of these differences in the
treatment of long-term debt and related items.3,065,334
Internal service funds are used by management to charge the costs of management
information systems, fleet management, employee fringe benefits, workmen's
compensation, and equipment replacement to the individual funds.
Their assets and liabilities are included in governmental activities in the statement
of net position.2,151,997
Change in net position of governmental activities (Statement of Activities)12,693,139$
CITY OF CAPE GIRARDEAU, MISSOURI
RECONCILIATION OF THE STATEMENT
OF REVENUES, EXPENDITURES, AND CHANGES IN FUND
Year Ended June 30, 2025
BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
See Accompanying Notes to the Basic Financial Statements.
16
Non-Major Total
Sewer Water Solid Waste Enterprise Enterprise Internal
Fund Fund Fund Funds Funds Service Funds
CURRENT ASSETS:
Pooled Cash and Investments 20,999,425$ 12,150,563$ 5,345,980$ 2,306,479$ 40,802,447$ 7,342,383$
Investments - - - - - 411,582
Receivables:
Utility Charges, Net 1,163,891 1,221,586 550,651 - 2,936,128 -
Special Assessments 998 - - - 998 -
Leases - 5,031 44,743 40,600 90,374 -
Other 2,040 30,056 1,661 - 33,757 185,246
Grants 1,500 - - - 1,500 -
Inventory 26 939,352 - 33,271 972,649 213,911
Prepaid Items 13,690 6,066 1,293 5,320 26,369 218,170
Total Current Assets 22,181,570$ 14,352,654$ 5,944,328$ 2,385,670$ 44,864,222$ 8,371,292$
NONCURRENT ASSETS:
Restricted Cash and Cash Equivalents 4,362,687$ 758,917$ -$ -$ 5,121,604$ 2,000$
Lease Receivable - 330,243 445,095 267,866 1,043,204 -
Net Pension Asset 444,639 128,028 188,663 181,850 943,180 72,071
Land 537,678 - 112,240 1,335,100 1,985,018 37,500
Buildings 8,093,164 306,244 4,928,942 13,449,347 26,777,697 53,906
Equipment 8,636,952 3,173,739 4,296,375 1,874,004 17,981,070 7,589,226
Other Improvements 173,429,171 74,027,077 372,725 5,498,605 253,327,578 155,653
Construction in Progress 2,754,252 4,501,517 - 624,093 7,879,862 5,452
Accumulated Depreciation (84,104,357) (38,385,354) (5,674,954) (8,440,841) (136,605,506) (5,951,769)
Total Current Assets 114,154,186 44,840,411 4,669,086 14,790,024 178,453,707 1,964,039
TOTAL ASSETS 136,335,756$ 59,193,065$ 10,613,414$ 17,175,694$ 223,317,929$ 10,335,331$
DEFERRED OUTFLOWS OF RESOURCES:
Deferred Outflow from Pension Plan 422,896$ 58,330$ 419,008$ 207,556$ 1,107,790$ 339,336$
Deferred Outflow from Retiree Health Plan 54,740 5,497 61,638 37,900 159,775 51,036
Total Deferred Outflows of Resources 477,636$ 63,827$ 480,646$ 245,456$ 1,267,565$ 390,372$
See Accompanying Notes to the Basic Financial Statements.
17
ASSETS
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
June 30, 2025
Business-Type Activities
Non-Major Total
Sewer Water Solid Waste Enterprise Enterprise Internal
CURRENT LIABILITIES:Fund Fund Fund Funds Funds Service Funds
Accounts Payable 664,075$ 230,893$ 254,511$ 97,595$ 1,247,074$ 96,192$
Salaries and Benefits Payable 46,753 117,092 39,316 61,729 264,890 26,980
Interest Payable 268,190 - 2,225 - 270,415 -
Other Liabilities 571,586 484,665 274,835 - 1,331,086 -
Estimated Claims Payable - - - - - 730,300
Unearned Revenues 200,786 - - 124,791 325,577 -
Revenue Bonds Payable, Current Portion 3,623,000 710,000 - - 4,333,000 -
Special Obligation Bonds Payable, Current Portion - - 202,400 - 202,400 -
Total Current Liabilities 5,374,390$ 1,542,650$ 773,287$ 284,115$ 7,974,442$ 853,472$
NONCURRENT LIAIBILITIES:
Net OPEB Obligation 280,766$ 41,047$ 340,256$ 212,487$ 874,556$ 260,627$
Compensated Absences Payable 71,208 - 56,938 41,078 169,224 42,195
Advances from Other Funds - - 459,699 - 459,699 -
Revenue Bonds Payable 34,478,000 5,043,582 - - 39,521,582 -
Special Obligation Bonds Payable - - 1,157,967 - 1,157,967 -
Total Noncurrent Liabilities 34,829,974$ 5,084,629$ 2,014,860$ 253,565$ 42,183,028$ 302,822$
TOTAL LIABILITIES 40,204,364$ 6,627,279$ 2,788,147$ 537,680$ 50,157,470$ 1,156,294$
DEFERRED INFLOWS OF RESOURCES:
Deferred Inflow from Pension Plan -$ 48,451$ -$ 95,784$ 144,235$ -$
Deferred Inflow from Leases - 303,374 461,865 308,697 1,073,936 -
Deferred Inflow from Retiree Health Plan 20,959 13,302 19,665 6,687 60,613 25,584
Total Deferred Inflows of Resources 20,959$ 365,127$ 481,530$ 411,168$ 1,278,784$ 25,584$
Net Investment in Capital Assets 71,245,860$ 37,869,641$ 2,674,961$ 14,340,308$ 126,130,770$ 1,889,968$
Restricted:
Depreciation and Replacement - 150,000 - - 150,000 -
Emergencies 781,394 1,047,053 847,313 437,796 3,113,556 -
Unrestricted 24,560,815 13,197,792 4,302,109 1,694,198 43,754,914 7,653,857
TOTAL NET POSITION 96,588,069$ 52,264,486$ 7,824,383$ 16,472,302$ 173,149,240 9,543,825$
Difference between business-type adjustments to assets and liabilities 813,840
Net position of business-type activities 173,963,080$
18
CITY OF CAPE GIRARDEAU, MISSOURI
See Accompanying Notes to the Basic Financial Statements.
LIABILITIES
NET POSITION
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
June 30, 2025
Business-Type Activities
Non-Major Total
Sewer Water Solid Waste Enterprise Enterprise Internal
Fund Fund Fund Funds Funds Service Funds
OPERATING REVENUES:
Residential Charges 5,496,294$ 5,492,237$ 3,735,006$ -$ 14,723,537$ -$
Commercial Charges 3,189,496 3,628,315 55,290 - 6,873,101 -
Transfer Station Charges - - 2,852,198 - 2,852,198 -
Other Fees and Charges 129,272 130,284 118,662 - 378,218 17,159
Concession Revenues - - - 346,525 346,525 -
Internal Charges 9,677 - - - 9,677 8,129,368
Usage Fees - - - 2,027,830 2,027,830 16,021
Miscellaneous 18,917 34,485 132,736 6,705 192,843 137,372
TOTAL OPERATING REVENUES 8,843,656$ 9,285,321$ 6,893,892$ 2,381,060$ 27,403,929$ 8,299,920$
OPERATING EXPENDITURES:
Personnel Services 1,638,150$ 301,151$ 1,377,836$ 1,810,100$ 5,127,237$ 1,002,951$
Materials and Supplies 959,924 2,248,294 294,876 461,323 3,964,417 601,170
Contractual Services 1,840,898 4,094,325 3,236,497 488,719 9,660,439 4,969,508
General Operating Expenses 509,473 497,474 20,792 14,558 1,042,297 41,935
Special Programs - - 103,010 189,087 292,097 1,665
Internal Services Expenses 263,968 248,514 563,667 165,065 1,241,214 29,994
Depreciation 4,523,034 2,150,936 347,877 741,642 7,763,489 296,456
TOTAL OPERATING EXPENDITURES 9,735,447$ 9,540,694$ 5,944,555$ 3,870,494$ 29,091,190$ 6,943,679$
TOTAL OPERATING INCOME (LOSS)(891,791)$ (255,373)$ 949,337$ (1,489,434)$ (1,687,261)$ 1,356,241$
NONOPERATING REVENUES (EXPENSES)
Intergovernmental 529,974$ -$ 90$ -$ 530,064$ -$
Investment Revenue 984,988 529,886 226,779 110,849 1,852,502 271,245
Gain (Loss) from Disposal of Assets (12,325) 3,542 - 15,530 6,747 19,174
Compensation for Damages 45,858 66,630 - - 112,488 -
Interest and Other Charges (765,983) (136,829) (40,897) - (943,709) -
Transfers In 4,756,756 1,450,944 - 956,749 7,164,449 740,000
Transfers Out - - - - - -
Contributed Capital - Government 1,344,561 2,944,719 - 767,581 5,056,861 96,281
Contributed Capital - Connect Fee 179,616 - - - 179,616 -
Contributed Capital - Developers 797,437 486,265 - - 1,283,702 -
TOTAL NONOPERATING REVENUES (EXPENSES)7,860,882$ 5,345,157$ 185,972$ 1,850,709$ 15,242,720$ 1,126,700$
NET CHANGE IN NET POSITION 6,969,091$ 5,089,784$ 1,135,309$ 361,275$ 13,555,459$ 2,482,941$
NET POSITION, July 1, 2024 89,618,978 47,174,702 6,689,074 16,116,380 159,599,134 7,060,884
PRIOR PERIOD ADJUSTMENT - - - (5,353) (5,353) -
NET POSITION, June 30, 2025 96,588,069$ 52,264,486$ 7,824,383$ 16,472,302$ 173,149,240$ 9,543,825$
Adjustments to reflect the consolidation of internal service fund activities related to the enterprise funds 330,944
Change in Net Position of Business-Type Activities 173,480,184$
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN NET POSITION - PROPRIETARY FUNDS
Year Ended June 30, 2025
Business-Type Activities
See Accompanying Notes to the Basic Financial Statements.
19
Non-Major Total
Sewer Water Solid Waste Enterprise Enterprise Internal
Fund Fund Fund Funds Funds Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from Customers 8,727,948$ 9,234,586$ 6,852,378$ 2,379,318$ 27,194,230$ 170,552$
Receipts from Interfund Services 9,677 - - - 9,677 8,188,838
Payments to Suppliers (2,402,623) (6,536,035) (3,532,677) (1,116,782) (13,588,117) (5,591,613)
Payments for Salaries and Benefits (1,784,027) (316,111) (1,450,384) (1,891,663) (5,442,185) (1,131,510)
Payments for Interfund Services Used (263,968) (248,514) (563,667) (165,065) (1,241,214) (29,994)
Payments Made in Lieu of Franchise Taxes (438,235) (443,639) - - (881,874) -
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 3,848,772$ 1,690,287$ 1,305,650$ (794,192)$ 6,050,517$ 1,606,273$
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Transfers from Other Funds 9,513,512$ 1,450,944$ -$ 956,749$ 11,921,205$ 740,000$
Transfers to Other Funds - - - - - -
Interest Paid to Other Funds - - (7,309) - (7,309) -
Subsidy From Grant 3,300 - 1,342 - 4,642 -
Insurance Claims 45,858 66,630 - - 112,488 (32,800)
Repayment of Long-Term Advance from Other Funds - - (125,000) - (125,000) -
NET CASH PROVIDED (USED) BY NONCAPITAL
FINANCING ACTIVITIES 9,562,670$ 1,517,574 (130,967) 956,749 11,906,026 707,200
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Purchase and Construction of Capital Assets (2,220,625)$ (1,179,850)$ (28,702)$ (135,710)$ (3,564,887)$ (409,824)$
Principal Paid on Capital Debt (3,538,000) (742,739) (347,032) - (4,627,771) -
Interest Paid on Capital Debt (790,886) (136,829) (34,159) - (961,874) -
Proceeds from Sales of Capital Assets - - - 24,000 24,000 47,325
Transfers In for Payment of Capital Related Debt (4,756,756) - - - (4,756,756) -
NET CASH PROVIDED (USED) BY CAPITAL
AND RELATED FINANCING ACTIVITIES (11,306,267) (2,059,418) (409,893) (111,710) (13,887,288) (362,499)
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF CASH FLOWS - PROPRIETARY FUNDS
Year Ended June 30, 2025
Business-Type Activities
See Accompanying Notes to the Basic Financial Statements.
20
Non-Major Total
Sewer Water Solid Waste Enterprise Enterprise Internal
Fund Fund Fund Funds Funds Service Funds
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest Received 984,988$ 529,886$ 226,779$ 110,849$ 1,852,502$ 271,245$
Net Change in Pooled Investments (3,084,708) (1,650,143) (991,569) (161,696) (5,888,116) (2,220,219)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (2,099,720)$ (1,120,257)$ (764,790)$ (50,847)$ (4,035,614)$ (1,948,974)$
NET CHANGE IN CASH 5,455 28,186 - - 33,641 2,000
CASH, July 1, 2024 4,357,232$ 730,731$ -$ -$ 5,087,963$ -$
CASH, June 30, 2025 4,362,687$ 758,917$ -$ -$ 5,121,604$ 2,000$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED (USED) BY OPERATING ACTIVITIES:
Operating Income (Loss)(891,791)$ (255,373)$ 949,337$ (1,489,434)$ (1,687,261)$ 1,356,241$
Adjustments to Reconcile Operating Income to Net Cash Provided (Used)
by Operating Activities:
Depreciation Expense 4,523,034 2,150,936 347,877 741,642 7,763,489 296,456
Bad Debt Expense 28,401 31,466 - - 59,867 -
Changes in Assets and Liabilities:
Accounts Payable - Supplier 446,703 (134,758) 106,622 28,523 447,090 42,553
Accounts Payable - Other 27,745 24,724 15,955 - 68,424 -
Salaries and Benefits Payable (4,202) 1,914 7,961 (2,322) 3,351 (24,551)
Customer Receivables (134,432) (73,281) (36,210) - (243,923) -
Interfund Receivables - - - - - 59,470
Lease Receivables - (8,920) (5,304) 231 (13,993) -
Prepaid Expenses (4,985) (1,308) (79) (4,049) (10,421) 5,766
OPEB Liability (46,855) - (2,155) (15,536) (64,546) (42,817)
Pension Asset/Liability (94,820) (16,874) (78,354) (63,705) (253,753) (61,191)
Inventory (26) (28,239) - 12,431 (15,834) (25,654)
Unearned Revenue - - - (1,973) (1,973) -
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 3,848,772$ 1,690,287$ 1,305,650$ (794,192)$ 6,050,517$ 1,606,273$
21
STATEMENT OF CASH FLOWS - PROPRIETARY FUNDS
Year Ended June 30, 2025
Business-Type Activities
CITY OF CAPE GIRARDEAU, MISSOURI
See Accompanying Notes to the Basic Financial Statements.
ASSETS:
Pooled Cash and Investments 3,313,902$
Restricted Cash and Cash Equivalents 570,897
Receivables:
Real Estate Taxes, Net 410,158
Grants 62,286
Prepaid Items 21,284
TOTAL ASSETS 4,378,527$
LIABILITIES:
Accounts Payable 65,585$
Salaries and Benefits Payable 33,625
Deferred Revenues 397,882
TOTAL LIABILITIES 497,092$
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF FIDUCIARY NET POSITION
June 30, 2025
LIABILITIES AND NET POSITION
ASSETS
See Accompanying Notes to the Basic Financial Statements.
22
ADDITIONS
Taxes 2,186,594$
Intergovernmental 515,817
Other Fees and Charges 111,133
Miscellaneous 33,198
Investment Revenue 181,422
TOTAL REVENUES 3,028,164$
DEDUCTIONS
Personnel Services 1,034,458$
Contractual Services 409,726
Materials and Supplies 210,409
General Operating Expenses 280,799
Debt Service:
Interest 35,320
Principal 680,000
TOTAL EXPENDITURES 2,650,712$
CHANGE IN NET POSITION 377,452$
NET POSITION, July 1, 2024 3,503,981
NET POSITION, June 30, 2025 3,881,433$
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF CHANGES IN
FIDUCIARY NET POSITION
Year Ended June 30, 2025
See Accompanying Notes to the Basic Financial Statements.
23
24
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Cape Girardeau, Missouri (the City) operates under a charter, which went into effect
April 12, 1982. The City operates under a Council-Manager form of government and provides the
following services as authorized by its charter: public safety (police and fire), highways and
streets, water, sanitation, health and social services, culture-recreation, public improvement,
planning and zoning, and general administrative services.
The financial statements of the City have been prepared in conformity with generally accepted
accounting principles (GAAP), as applied to government units. The Governmental Accounting
Standards Board (GASB) is the accepted standard-setting body for establishing governmental
accounting and financial reporting principles. The more significant accounting policies of the City
are described below.
1. Reporting Entity
In evaluating how to define the City, for financial reporting purposes, management has considered
all potential component units. Generally, component units are legally separate organizations for
which the elected officials of the City are financially accountable. The Cape Girardeau (Missouri)
Public Facilities Authority (CGPFA) is a blended component unit of the City. The financial
statements of the CGPFA are included in the accompanying financial statements of the City. The
Cape Girardeau Parks Development Foundation (CGPDF) is also a component unit of the City.
The financial statement of this foundation is included as a special revenue fund in the
accompanying financial statements.
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 consists of City officials and City
Council members. Due to the significant City influence and financial accountability, the activities
of the CGPFA are blended with the financial presentation of the City. The CGPFA executed a
bond indenture for the purpose of issuing and securing the Series 2009 Bonds. These bonds were
used for the construction of various storm water control improvements, Cape Splash Family
Aquatic Center, Shawnee Park Community Center, and various other park related improvements.
The CGPFA entered into a Lease Purchase Agreement with the City from which the lease
payments were used solely to retire the debt. All debt was retired and remaining assets, $162.10 in
cash, were returned to the City prior to the current year. No activity occurred during the current
year.
The CGPDF is a not-for-profit corporation organized and existing under Chapter 355 of the
Revised Statutes of Missouri. The CGPDF board of directors consists of Park and Recreation
Board members and one City Council member. Due to the significant City influence and financial
accountability, the activities of this foundation are included in the financial presentation of the
City. This foundation was established to receive donations to be used for the benefit of the City.
25
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
Although not component units of the City, the City handles the funds of and provides accounting
and other services for the Cape Girardeau Public Library and the SEMO Metropolitan Planning
Organization. Since these funds are held by the City, these entities are shown as Custodial Funds
in the financial statements.
2. Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of
activities) report information on all of the non-fiduciary activities of the primary government and
its component units. The effect of inter-fund activity has been removed from these statements.
Governmental activities, which normally are supported by taxes and intergovernmental revenues,
are reported separately from business-type activities, which rely to a significant extent on fees and
charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function
or segment is offset by program revenues. Direct expenses are those that are clearly identifiable
with a specific function or segment. Program revenues include 1) charges to customers or
applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a
given function or segment and 2) grants and contributions that are restricted to meeting the
operational or capital requirements of a particular function or segment. Taxes and other items not
properly included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and
fiduciary funds, even though the latter are excluded from the government-wide financial
statements. Major individual governmental funds and major individual enterprise funds are
reported as separate columns in the fund financial statements.
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting, as are the proprietary fund financial
statements. Revenues are recorded when earned, and expenses are recorded when a liability is
incurred, regardless of the timing of related cash flows. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met. With the
economic resources measurement focus, all assets and liabilities associated with operations are
reflected in the statement of net position.
26
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation -
Continued
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Under the modified accrual
basis, revenues are recognized as soon as they are both measurable and available. Revenues are
considered to be available when they are collectible within the current period or soon enough
thereafter to pay liabilities of the current period. For this purpose, the City generally considers
revenues to be available if they are collected within 30 days of the end of the current fiscal period.
Expenditures generally are recorded when a liability is incurred, as under accrual accounting.
Debt service expenditures, as well as expenditures related to compensated absences and claims
and judgments, are recorded only when payment is due. Those revenues susceptible to accrual are
property taxes, franchise taxes, special assessments, licenses, interest revenue, and charges for
services. Sales taxes collected and held by the state at year -end on behalf of the City also are
recognized as revenue. Fines and permit revenues are not susceptible to accrual because,
generally, they are not measurable until received in cash. With the current financial resources
measurement focus, only current assets and current liabilities are generally included on the balance
sheet.
The City reports the following major governmental funds:
The general fund is the City’s primary operating fund. It accounts for all financial resources
of the general government, except those required to be accounted for in another fund.
The airport fund accounts for the receipts and expenditures of the municipal airport.
The City reports the following major proprietary funds:
The sewer fund accounts for the operation of the City’s sewage treatment plant, sewage
pumping stations, and collection systems.
The water fund accounts for the operation of the City’s water treatment plants and distribution
systems.
The solid waste fund accounts for the operation of the City’s residential solid waste and
recycling programs.
27
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
3. Measurement Focus, Basis of Accounting, and Financial Statement Presentation -
Continued
Additionally, the City reports the following fund types:
Internal service funds account for the management of information systems, fleet
management, employee benefits, workers’ compensation, and equipment leasing provided to
other departments or agencies of the City on a cost reimbursement basis.
Custodial funds account for the operations of the Cape Girardeau Public Library and the
SEMO Metropolitan Planning Organization.
As a general rule the effect of interfund activity has been eliminated from the gov ernment-wide
financial statements. Exceptions to this general rule are payments-in-lieu of taxes and other
charges between the City’s enterprise function and various other functions of the government.
Elimination of these charges would distort the direct costs and program revenues reported for the
various functions concerned.
It is the City’s policy to first use restricted net resources prior to the use of unrestricted net
resources when an expense is incurred for purposes for which both restricted and unrestricted net
resources are available.
Amounts reported as program revenues include 1) charges to customers or applicants for goods,
services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and
contributions, including special assessments. Internally dedicated resources are reported as general
revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from non-operating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund’s principal ongoing operations. The
principal operating revenues of the City’s enterprise funds and of the City’s internal service funds
are charges to customers for sales and services. Operating expenses for enterprise funds and
internal service funds include the cost of sales and services, administrative expenses, and
depreciation on capital assets. All revenues and expenses not meeting this definition are reported
as non-operating revenues and expenses.
4. Cash and Investments
The City maintains an internal investment pool for the majority of its non-restricted cash and
investments and a small portion of its restricted cash and investments. Investment revenue is
allocated to each fund based on its average equity balance in the pool.
28
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
Cash includes amounts in repurchase agreements and other short-term investments with a maturity
date within three months of the date of purchase.
Investments with a maturity date of one year or more at the time of purchase are recorded at fair
value. All other cash and investments are recorded at cost or amortized cost.
5. Capital Assets
All capital assets with an original cost exceeding $5,000 are recorded at historical cost or estimated
historical cost if actual historical cost is not available. Additions are recorded at cost or, if
contributed property, at their estimated fair value at time of contribution. Repairs and maintenance
are recorded as expenses; renewals and betterments are capitalized. The sale or disposal of capital
assets is recorded by removing cost and accumulated depreciation and charging the resulting gain
or loss to income.
Depreciation of all exhaustible capital assets is charged as an expense against operations in
proprietary funds and a program cost of governmental activities in the statement of activities.
Assets are reported net of depreciation on proprietary fund and government-wide statement of net
position. Depreciation has been provided over the estimated useful lives using the straight -line
method. The estimated useful lives are as follows:
Buildings 25-50 years
Improvements 10-40 years
Equipment 3-10 years
When applicable, interest costs are capitalized on self -constructed capital assets.
6. Encumbrances
Encumbrances represent commitments related to unperformed contracts for goods or services.
Encumbrance accounting is utilized in all funds. Encumbrances outstanding at the end of the year
in the governmental funds are reported as assigned fund balances and do not constitute
expenditures or liabilities because the commitments will be carried forward and honored during
the subsequent year. Encumbrances outstanding in the proprietary funds do not constitute
expenses but will be honored in the subsequent year. No reservations of net assets are made for
encumbrances outstanding at the end of the year on the proprietary fund and government-wide
statement of net position.
7. Inventories
Inventories consist primarily of supplies, valued at cost. The cost of inventories is recorded as
expenditures or expenses when consumed rather than when purchased.
29
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
8. Inter-fund Transactions
Quasi-external transactions are accounted for as revenues, expenditures, or expenses. Transactions
that constitute reimbursements to a fund for expenditures/expenses initially made from it that are
properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund
and as reductions of expenditures/expenses in the fund that is reimbursed.
All other inter-fund transactions, except quasi-external transactions and reimbursements, are
reported as transfers. Only net transfers between governmental and business -type activities are
reflected on the government-wide statement of activities.
9. Bond Premiums, Discounts, and Issuance Costs
In governmental fund types, bond premiums, discounts, and issuance costs are recognized in the
current period. Bond premiums and discounts for proprietary fund types are deferred and
amortized over the term of the bonds. Bond issuance costs are recognized in the current period for
proprietary fund types. Bond premiums and discounts are presented as either increases or
reductions of the face amount of bonds payable. The accounting treatment of bond premiums,
discounts, and issuance costs used for governmental activities in the government-wide statements
is the same as that used for proprietary funds.
10. Prepaid Items
Payments made to vendors for services that will benefit periods beyond June 30, 2025 are recorded
as prepaid items.
11. Restricted Assets
Certain proceeds of enterprise fund revenue bonds, as well as certain resources set aside for the
repayment of such bonds, are classified as restricted assets on the balance sheet because their use
is limited by applicable bond covenants. The “revenue bond construction” account is used to
report those proceeds of revenue bond issuances that are restricted for use in construction. The
“revenue bond current debt service” account is used to report resources set aside to make up
potential future deficiencies in the revenue bond current debt service account.
12. Long-Term Obligations
Only that portion of long-term obligations expected to be financed from expendable available
financial resources is reported as a fund liability of a governmental fund. Long -term liabilities
expected to be financed from proprietary fund operations are accounted for in the appropriate
proprietary fund. Long-term liabilities expected to be financed from governmental activities are
accounted for in the government-wide statement of net position.
30
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
13. Receivables
Receivables are stated at the amount the City expects to collect. Receivables are reduced by
allowances for uncollectible accounts that reflect management’s best estimate of probable losses.
These allowances are determined principally on the basis of historical experience for smaller
accounts. Larger receivables are reduced by allowances that reflect management’s best estimate
of probable losses based on specific information known about the troubled accounts. Small -
balance accounts are normally written off when over 12 months delinquent. Accounts not expected
to be collected within the next 12 months are reported as Non-current on the Statement of Net
Position only if management estimates the customer has the ability and intent to pay the balance
due.
14. Compensated Absences
Vested or accumulated vacation leave and termination pay for proprietary funds are recorded as
expenses and liabilities of those funds as the benefits accrue to employees. Amounts of vested or
accumulated vacation leave and termination pay of governmental funds are reported in the
Statement of Net Position. Employees may accumulate up to 30 days of vacation, for which they
are compensated upon termination or retirement. Employees are not compensated for accumulated
sick leave upon termination but are compensated one hour for each eight hours of unused sick
leave upon retirement.
15. Short-Term Inter-fund Receivables/Payables
During the course of operations, numerous transactions occur between individual funds for goods
provided or services rendered. These receivables and payables are classified as “inter -fund
receivables/payables” on the governmental balance sheet and proprietary statement of net position.
Only net receivables between governmental and business-type activities are reflected as internal
balances on the government-wide statement of net position.
16. Advances to Other Funds
Noncurrent portions of long-term inter-fund loan receivables and payables are reported as
advances in the governmental balance sheet and proprietary statement of net position. Fund
balances equal to inter-fund loan receivables are reported as non-spendable on the governmental
balance sheet to indicate that they do not constitute expendable available financial resources and
therefore are not available for appropriation. Only net long-term inter-fund loans between
governmental and business-type activities are reflected as internal balances on the government-
wide statement of net position. Net assets are not reserved for inter -fund loan receivables on
proprietary and government-wide statements of net position.
31
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
17. Pensions
For purposes of measuring the net pension asset / liability, deferred outflows of resources and
deferred inflows of resources related to pensions, and pension expense, information about the
fiduciary net position of the Missouri Local Government Employees Retirement System
(LAGERS) and additions to/deductions from LAGERS fiduciary net position have been
determined on the same basis as they are reported by LAGERS. For this purpose, benefit payments
(including refunds of employee contributions) are recognized when due and payable in accordance
with the benefit terms. Investments are reported at fair value.
18. Post-Employment Health Care Benefits
In addition to the pension benefits described in Note G, it is the City’s policy to provide
postretirement health care benefits to employees hired prior to July 1, 2010 who retired from the
City prior to April 1, 2012 with five or more years of service and who were eligible for LAGERS
retirement (Note G) or after April 1, 2012 after reaching their normal retirement ages through
LAGERS with five or more years of service. Currently, thirty-nine retirees meet those eligibility
requirements. The City provides health care coverage for them until age 65. The costs of retirees’
health care benefits are recognized as expenditures as premiums are paid. For the year ending
June 30, 2025, those costs totaled $606,507.
COBRA Benefits - Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the
City provides health care benefits to eligible former employees and eligible dependents. Certain
requirements are outlined by the federal government for this coverage. The premium i s paid in
full by the insured on or before the tenth (10th) day of the month for the actual month covered.
This program is offered for the duration of 18 months after the termination date for employees and
their families and 36 months for surviving spouses and children. There is no associated cost to the
City under this program. There were one hundred fifteen participants in the health insurance
program and one hundred forty-three participants in the dental insurance program as of June 30,
2025.
19. Infrastructure
The City defines infrastructure as the basic physical assets that allow the City to function. The
assets include the street system, water system, sewer system, parks and recreation lands and
improvement system, storm water system, and buildings combined with the site amenities such as
parking and landscaped areas used by the City in the conduct of its business. Infrastructure of the
water and sewer systems were routinely capitalized in the water and sewer funds of the City and
are reflected as other improvements in the business-type activities section on the statement of
activities.
During the year ended June 30, 2025 all infrastructures completed during the fiscal year, including
projects started in a previous year, were recorded at their historical costs.
32
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
20. Subsequent Events
In preparing these financial statements, the City has evaluated events and transactions for potential
recognition or disclosure through January 29, 2026, the date the financial statements were available
to be issued.
NOTE B - DEPOSITS AND INVESTMENTS
The City maintains a cash and investment pool that is available for use by all funds. Each fund’s
portion of this pool is displayed as “Pooled cash and investments” on the various financial
statements. The pooled deposits and investments held at June 30, 2025, and reported at fair value,
are as follows:
Deposits:
Demand Deposits $ 420,028
Interest Bearing Deposit Accounts 122,816,038
Total Deposits $ 123,236,066
Investments:
Negotiable Instruments $ 11,463,407
Total Investments $ 11,463,407
Accrued Interest Revenue $ 66,606
Total Pooled Deposits and Investments $ 134,766,079
As of June 30, 2025, the City had the following pooled investments:
Investments Maturities Fair Value
Negotiable Instruments 08/15/25 – 04/03/30 $11,463,407
Total $11,463,407
Reconciliation of Pooled Cash and Investments to Statements:
Governmental Pooled Cash and Investments $ 90,649,730
Business-type Pooled Cash and Investments 40,802,447
Fiduciary Pooled Cash and Investments 3,313,902
Total Pooled Cash and Investments $134,766,079
33
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE B - DEPOSITS AND INVESTMENTS - continued
The City also has deposits and investments that are not part of the City’s cash and investment
pool. These deposits and investments held at June 30, 2025, and reported at fair value, are as
follows:
Deposits:
Interest Bearing Deposit Accounts $5,694,501
Total Deposits $5,694,501
Investments:
U. S. Treasury Note $ 411,582
Total Investments $ 411,582
Total Non-pooled Deposits and Investments $6,106,083
As of June 30, 2025, the City had the following non-pooled investments
U. S. Treasury Note 012/05/24 – 11/15/25 $ 411,582
Total $ 411,582
Reconciliation of Non-pooled Deposits and Investments to Statements:
Governmental Investments $ 411,582
Business-type Restricted Cash and Cash Equivalents 5,123,604
Fiduciary Cash and Cash Equivalents 570,897
Total Non-pooled Deposits and Investments $6,106,083
Custodial Credit Risk:
Deposits in financial institutions, reported as components of cash, cash equivalents, and
investments, had a bank balance of $141,557,368 at June 30, 2025, that was fully insured by
depository insurance or secured with collateral held by the City’s agents in its name. All
investments, evidenced by individual securities, are registered in the name of the City.
Investment Interest Rate Risk
The City’s investment policy states that “Market price volatility shall be controlled by
matching the City’s investments with anticipated cash flow requirements. The City will not
directly invest in securities maturing more than seven years.” The maturities of investments
held at June 30, 2025 are provided above.
34
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE B - DEPOSITS AND INVESTMENTS - continued
Investment Credit Risk
The City has an investment policy that limits its investment choices as follows:
a. Direct obligations of the U.S. Government, its agencies, and instrumentalities
to which the full faith and credit of the U.S. Government is pledged, or
obligations to the payment of which the full faith and credit of the State is
pledged;
b. Certificates of deposit or savings accounts that are either insured or secured
with acceptable collateral with in-state financial institutions, and fully insured
certificates of deposit or savings accounts in out-of-state financial institutions;
c. Repurchase agreements collateralized by securities listed in (a.) above,
documented by a written agreement, fully collateralized by delivery to an
independent third-party custodian, and are marked-to-market;
d. Money market mutual funds whose portfolio consists of the foregoing
instruments; and,
e. Other prudent investment instruments approved prior to purchase by a two-
thirds majority of the City Council. Bond proceeds may be invested as allowed
in the bond indenture.
Concentration of Investment Credit Risk
The City places no limit on the amount it may invest in any one issuer. At June 30, 202 5, the
City had no concentration of credit risk.
NOTE C – LEASE RECEIVABLE
LEASES:
Lease (Lessor) agreements are summarized as follows:
35
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE C – LEASE RECEIVABLE - continued
Total Deferred Balance
Description Date Terms Amount Interest Rate Inflows June 30, 2025
Fresh Health Cape 11/1/2024 3 years 3.25%20,037$ 20,197$
SEMO State University 2/1/2024 10 years 3.25%288,660 288,269
Larry Eftink Farms 1/1/2022 5 years 57,781$ 3.25%91,338 96,319
Crown Castle 12/7/1998 45 years 4,564 3.25%303,374 335,274
Now-Verticale Bridge 1/1/2006 25 years 8,362 3.25%37,728 49,110
Nemiesis Flight Ops 2/1/2015 25 years 3,281 3.25%55,300 62,731
DSW Signs, LLC 1/31/2021 20 yers 2,137 3.25%42,780 44,555
Republic Services 12/15/2014 20 years 40,592 3.25%461,865 489,838
Transport Security Admin 7/1/2020 15 years 927 3.25%81,577 91,329
Contour Airlines 10/18/2022 7 years 1,890 3.25%86,332 89,906
U.S. Aviation Academy 1/1/2025 6 years 4,942 3.25%289,295 298,314
Ozark Aircraft Maintenance 2/1/2020 10 years 2,001 3.25%80,927 100,401
Total Lease Revenue 1,839,213$ 1,966,273$
The City’s leasing operations consist of leasing land, airport hangers, and other miscellaneous
assets with various customers. All leases contain an original lease agreement ranging from five to
forty-five years. Payments are made to the City in either monthly or yearly amounts. Each
customer’s rental payments are adjusted on an annual basis according to contractually specified
types of Consumer Price Indexes or the Producer Price Index (All Commodities).
The City will recognize annual rental and interest revenue as follows:
Year Ending Rental Interest
June 30, Revenue Revenue
2026 $ 268,196 $ 60,871
2027 243,857 52,271
2028 214,529 45,074
2029 218,504 38,099
2030 196,405 31,184
2031-2035 540,117 196,937
2036-2040 118,280 39,302
2041-2045 112,768 20,605
2046-2047 53,617 53,618
$1,966,273 $ 537,961
36
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE D – PROPERTY TAXES – continued
Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on
August 28, 2024, for collection during this fiscal year and were due on or before December 31.
Most of the taxes are collected for the City by Cape Girardeau County in November and December
and remitted to the City in December and January. The tax rates assessed at the time were as
follows:
General Revenue $.3067/100.00 assessed valuation
Public Health .0575/100.00 assessed valuation
Special Business District .7283/100.00 assessed valuation
#2 (Ad Valorem)
Property tax receivable balances as of June 30, 2025 are as follows:
General Public
Revenue Health Total
Current property tax 122,653$ 17,288$ 139,941$
Delinquent property tax 327,084 61,573 388,657
Reserve for doubtful
property taxes (15,537) (2,912) (18,449)
Net property tax receivable 434,200$ 75,949$ 510,149$
NOTE E - CHANGES IN CAPITAL ASSETS
A summary of the capital assets for governmental activities included on the government -wide
statement of net position for the year ended June 30, 2025 is as follows:
Balance Current Year Balance
July 1, 2024 Additions Deductions Depreciation*6/30/2025**
Land 6,950,644$ -$ -$ -$ 6,950,644$
Buildings 49,913,187 16,678,478 - (2,598,624) 63,993,041
Land improvements 17,329,853 5,088,227 - (1,149,091) 21,268,989
Equipment 12,139,258 1,331,578 (119,193) (2,027,966) 11,323,677
Infrastructure 131,261,362 4,753,730 - (6,056,036) 129,959,056
Construction in progress 23,012,863 9,786,316 (25,649,999) - 7,149,180
Total capital assets 240,607,167$ 37,638,329$ (25,769,192)$ (11,831,717)$ 240,644,587$
* Includes depreciation expenses from the internal service funds’ assets which are included in the expenses of the
governmental activities and business activities on the government -wide Statement of Activities as internal
charges.
**Includes the internal service funds’ assets which are included as part of the governmental activities assets
included on the government-wide Statement of Net Position.
37
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE E – CHANGES IN CAPITAL ASSETS – continued
A summary of the capital assets for business-type activities included on the government-wide
statement of net position for the year ended June 30, 2025 is as follows:
Balance Current Year Balance
July 1, 2024 Additions Deductions Depreciation*June 30, 2025
Land 1,985,018$ -$ -$ -$ 1,985,018$
Buildings 13,582,734 - - (482,005) 13,100,729
Improvements other
than buildings 144,374,066 4,573,933 - (6,431,672) 142,516,327
Equipment 5,963,499 790,574 (40,478) (849,812) 5,863,783
Construction in progress 3,207,229 7,735,656 (3,063,023) - 7,879,862
Total capital assets 169,112,546$ 13,100,163$ (3,103,501)$ (7,763,489)$ 171,345,719$
Depreciation expense was charged to functions as follows in the statement of activities:
Governmental Activities:
Administrative $ 16,292
Development Services 1,272,334
Parks and Recreation 2,000,542
Public Safety 935,810
Public Works 7,606,739
Total $ 11,831,717
Business-Type Activities:
Golf Course $ 146,706
Sewer 4,523,034
Sporting Complexes 273,357
Sportsplex 321,579
Solid Waste 347,877
Water 2,150,936
Total $ 7,763,489
38
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS
The following is a summary of changes in the long-term debt from governmental activities
included on the government-wide statement of net position for the year ended June 30, 2025:
Government Other
Activities Debt*Total
Debt payable June 30, 2024 38,577,882$ 38,577,882$
Discount/Premium
Amortization (57,172) (57,172)
Issued - -
Retired (3,012,968) (3,012,968)
Debt payable June 30, 2025 35,507,742$ 35,507,742$
*Other Debt includes Notes Payable and Special Obligation Bonds.
The following is a summary of changes in the long-term debt from business-type activities
included on the government-wide statement of net position for the year ended June 30, 2025:
Business-Type Other Revenue
Activities Debt*Bonds Total
Debt payable June 30, 2024 1,707,399$ 48,135,321$ 49,842,720$
Discount/Premium
Amortization - (57,739) (57,739)
Issued - - -
Retired (347,032) (4,223,000) (4,570,032)
Debt payable June 30, 2025 1,360,367$ 43,854,582$ 45,214,949$
*Other Debt includes Special Obligation Bonds
Bonds payable for governmental and business-type activities at June 30, 2025 are comprised of
the following individual issues:
39
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS – Continued
$16,943,000 Sewerage System Revenue Bonds (State of Missouri – Direct Loan Program) Series
2012 due as follows:
Year Ending Interest Principal Interest Admin
June 30, Rate Due Due Fee Total
2026 1.430% $ 1,604,000 $ 236,586 $ 82,722 $ 1,923,308
2027 1.430% 1,644,000 213,506 74,653 1,932,159
2028 1.430% 1,684,000 189,854 66,382 1,940,236
2029 1.430% 1,726,000 165,622 57,910 1,949,532
2030 1.430% 1,769,000 140,791 49,228 1,959,019
2031 1.430% 1,813,000 115,337 40,327 1,968,664
2032 1.430% 1,857,000 89,253 31,208 1,977,461
2033 1.430% 1,904,000 62,534 21,865 1,988,399
2034 1.430% 1,950,000 35,142 12,287 1,997,429
2035 1.430% 992,000 7,093 2,480 1,001,573
Total $16,943,000 $1,255,718 $ 439,062 $18,637,780
Sewerage System Revenue Bonds through the State of Missouri – Direct Loan Programs were
issued by the City on June 19, 2012. A 1% administrative fee and a 1.43% interest rate were
originally charged on this loan. Effective January 1, 2018 the administrati ve fee was reduced to
.5%. Principal was disbursed on this loan as needed.
The proceeds of the bond issue were used to acquire, construct, extend, and improve the existing
sewerage system.
Principal payments are made annually on July 1, while interest payments are made semi -annually
on January 1 and July 1.
40
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS - Continued
$1,763,000 Sewerage System Revenue Bonds (State of Missouri – Direct Loan Program) Series
2013A due as follows:
Year Ending Interest Principal Interest Admin
June 30, Rate Due Due Fee Total
2026 1.390% $ 169,000 $ 23,922 $ 8,605 $ 201,527
2027 1.390% 173,000 21,559 7,755 202,314
2028 1.390% 177,000 19,140 6,885 203,025
2029 1.390% 181,000 16,666 5,995 203,661
2030 1.390% 185,000 14,136 5,085 204,221
2031 1.390% 189,000 11,551 4,155 204,706
2032 1.390% 193,000 8,910 3,205 205,115
2033 1.390% 197,000 6,213 2,235 205,448
2034 1.390% 202,000 3,461 1,245 206,706
2035 1.390% 97,000 675 242 97,917
Total $ 1,763,000 $ 126,233 $ 45,407 $ 1,934,640
Sewerage System Revenue Bonds through the State of Missouri – Direct Loan Programs were
issued by the City on June 18, 2013. A 1% administrative fee and a 1.39% interest rate were
originally charged on this loan. Effective January 1, 2018 the administrati ve fee was reduced to
.5%. Principal was disbursed on this loan as needed.
The proceeds of the bond issue were used to acquire, construct, extend, and improve the existing
sewerage system.
Principal payments are made annually on July 1, while interest payments are made semi -annually
on January 1 and July 1.
41
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS - Continued
$19,395,000 Sewerage System Revenue Bonds (State of Missouri – Direct Loan Program) Series
2013B due as follows:
Year Ending Interest Principal Interest Admin
June 30, Rate Due Due Fee Total
2026 1.390% $ 1,850,000 $ 263,196 $ 94,675 $ 2,207,871
2027 1.390% 1,893,000 237,336 85,372 2,215,708
2028 1.390% 1,935,000 210,877 75,855 2,221,732
2029 1.390% 1,981,000 183,821 66,123 2,230,944
2030 1.390% 2,026,000 156,132 56,162 2,238,294
2031 1.390% 2,072,000 127,810 45,975 2,245,785
2032 1.390% 2,120,000 98,843 35,555 2,254,398
2033 1.390% 2,169,000 69,208 24,895 2,263,103
2034 1.390% 2,219,000 38,885 13,987 2,271,872
2035 1.390% 1,130,000 7,853 2,825 1,140,678
Total $19,395,000 $1,393,961 $ 501,424 $21,290,385
Sewerage System Revenue Bonds through the State of Missouri – Direct Loan Programs were
issued by the City on June 18, 2013. A 1% administrative fee and a 1.39% interest rate were
originally charged on this loan. Effective January 1, 2018 the administrati ve fee was reduced to
.5%. Principal was disbursed on this loan as needed.
The proceeds of the bond issue were and will be used to acquire, construct, extend, and improve
the existing sewerage system.
Principal payments are made annually on July 1, while interest payments are made semi -annually
on January 1 and July 1.
$2,940,000 Refunding Special Obligation Bonds, Series 2022 due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2026 1.990% $ 440,000 $ 58,506 $ 498,506
2027 1.990% 450,000 49,750 499,750
2028 1.990% 455,000 40,796 495,796
2029 1.990% 465,000 31,740 496,740
2030 1.990% 470,000 22,488 492,488
2031 1.990% 475,000 13,134 488,134
2032 1.990% 185,000 3,682 188,682
Total $ 2,940,000 $ 220,096 $3,160,096
42
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS - Continued
Principal payments are made annually on June 1, and interest payments are made semi -annually
on June 1 and December 1.
In August 2015, the City of Cape Girardeau issued $9,625,000 of Special Obligation Bonds, Series
2015 with the interest rates varying from 2.500% to 3.625%. The bonds are special obligations of
the City payable solely from the revenues derived from annual appropriations by the City Council.
These bonds were refinanced during the year
The Refunding Special Obligation Bond Series 2022 totaling $5,122,000 dated February 22, 2022
has an interest rate of 1.990 percent. The proceeds of the agreement were to advance refund of the
City’s outstanding Special Obligation Bonds, Series 2015A. Pr incipal payments are due June 1,
and interest payments are due on June 1 and December 1. The agreement matures on June 1, 2032.
The refinancing provided the City savings of $367,693.
The bonds were issued by the City for the purpose of providing funds to (a) construct, furnish, and
equip a new fire station; construct a new transfer station; renovate and improve existing fire and
police stations; renovate and expand a new police station; acquire vehicles for the fire department;
and construct an indoor sports complex, (b) fund capitalized interest on the Bonds and, (c) pay the
costs of issuing the Bonds, under the authority of and in full compliance with the City’s Charter
and the Constitution and laws of the State of Missouri, and pursuant to an ordinance duly passed
and proceedings duly and legally had by the governing body of the City.
$11,235,000 Special Obligation Bonds, Series 2016 due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2026 2.000% $ 1,460,000 $ 343,119 $ 1,803,119
2027 2.125% 1,505,000 313,919 1,818,919
2028 3.000% 1,550,000 281,937 1,831,937
2029 4.000% 1,625,000 235,438 1,860,438
2030 4.000% 1,715,000 170,437 1,885,437
2031 3.000% 1,190,000 101,838 1,291,838
2032 3.000% 430,000 66,137 496,137
2033 3.000% 450,000 53,238 503,238
2034 3.000% 470,000 39,737 509,737
2035 3.000% 490,000 25,638 515,638
2036 3.125% 350,000 10,937 360,937
Total $11,235,000 $1,642,375 $12,877,375
43
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS - Continued
Principal payments are made annually on June 1, and interest payments are made semi -annually
on June 1 and December 1.
In May 2016, the City of Cape Girardeau issued $27,350,000 of Special Obligation Bonds, Series
2016 with interest rates varying from 2.000% to 4.000%. The bonds are special obligations of the
City payable solely from the revenues derived from annual appropriations by the City Council.
The bonds were issued by the City for the purpose of providing funds to (a) refund all of the
Leasehold Revenue Bonds, Series 2009, (b) expanding, renovating, and equipping a building to
serve as a new police headquarters; constructing an indoor sports complex; constructing,
furnishing, and equipping a new fire station; and other capital improvement projects and, (c) pay
the costs of issuing the Bonds, under the authority of and in full compliance with the City’s Charter
and the constitution and laws of the State of Missouri, and pursuant to an ordinance duly passed
and proceedings duly and legally had by the governing body of the City.
$8,710,000 Special Obligation Bonds, Series 2018 due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2026 N/A $ -0- $ 297,610 $ 297,610
2027 N/A -0- 297,610 297,610
2028 N/A -0- 297,610 297,610
2029 N/A -0- 297,610 297,610
2030 N/A -0- 297,610 297,610
2031 3.300% 1,755,000 297,610 2,052,610
2032 3.400% 2,460,000 239,695 2,699,695
2033 3.450% 2,540,000 156,055 2,696,055
2034 3.500% 1,955,000 68,425 2,023,425
Total $ 8,710,000 $2,249,835 $10,959,835
Principal payments are made annually on June 1, and interest payments are made semi -annually
on June 1 and December 1.
In October 2018, the City of Cape Girardeau issued $8,710,000 of Special Obligation Bonds,
Series 2018 with interest rates varying from 3.300% to 3.500%. The bonds are special obligations
of the City payable solely from the revenues derived from annual appropriations by the City
Council.
44
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS - Continued
The bonds were issued by the City for the purpose of providing funds to (a) pay the costs of
stormwater and parks projects, and (b) pay the costs of issuing the Bonds, under the authority of
and in full compliance with the City’s Charter and the constitution and laws of the State of
Missouri, and pursuant to an ordinance duly passed and proceedings duly and legally had by the
governing body of the City.
$5,535,000 Waterworks Refunding Revenue Bonds, Series 2019 due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2026 4.000% $ 710,000 $ 180,550 $ 890,550
2027 4.000% 740,000 152,150 892,150
2028 3.000% 770,000 122,550 892,550
2029 3.000% 795,000 99,450 894,450
2030 3.000% 815,000 75,600 890,600
2031 3.000% 840,000 51,150 891,150
2032 3.000% 865,000 25,950 890,950
Total $ 5,535,000 $ 707,400 $ 6,242,400
On October 15, 2019, the City issued $8,650,000 of Refunding Revenue Bonds with total proceeds
of $9,394,508 at a true interest cost of 2.13%. The proceeds were used to refund the outstanding
Series 2012A Bonds.
The Bonds were issued with interest varying from 3.0% to 4.0%. Principal and interest will be
paid by the City from the revenues derived from the operation of the waterworks system.
Principal payments are made annually on January 1, and interest payments are made semi -annually
on January 1 and July 1.
45
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS - Continued
$13,645,000 Special Obligation Bonds, Series 2020 due as follows:
Year Ending Interest Principal Interest
June 30, Rate Due Due Total
2026 2.460% $ 1,225,000 $ 325,094 $ 1,550,094
2027 2.460% 1,255,000 294,168 1,549,168
2028 2.460% 1,280,000 263,230 1,543,230
2029 2.460% 1,310,000 230,256 1,540,256
2030 2.460% 1,345,000 197,148 1,542,148
2031 2.460% 1,380,000 163,166 1,543,166
2032 2.460% 1,410,000 128,676 1,538,676
2033 2.460% 1,445,000 92,770 1,537,770
2034 2.460% 1,480,000 56,294 1,536,294
2035 2.460% 1,515,000 18,945 1,533,945
Total $13,645,000 $1,769,747 $15,414,747
On January 3, 2020, the City of Cape Girardeau issued $17,135,000 of Special Obligation Bonds,
Series 2020 with a 2.46% interest rate. The bonds are special obligations of the City payable solely
from the revenues derived from annual appropriations by the City Council. Proceeds of the bonds
were received as follows:
January 3, 2020 $1,835,000
September 15, 2020 2,300,000
December 1, 2020 4,000,000
June 1, 2021 4,000,000
December 1, 2021 5,000,000
Interest is only charged on principal that has been received.
The bonds were issued by the City for the purpose of providing funds to (a) pay the cost the
relocation and renovation of City Hall, and (b) may be used to finance, in any priority, the
construction of a new airport terminal and air traffic control tower at Cape Girardeau Regional
Airport, improvements to the Waterworks System, and street improvements.
Principal payments are made annually on December 1, and interest payments are made semi -
annually on June 1 and December 1.
The cash and investments available to service revenue bonds are $-0- and $4,717,687 for the
governmental and business-type activities, respectively.
46
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE F - LONG-TERM OBLIGATIONS - Continued
The cash and investments available to service the special obligation bonds are $-0- and $12,456 in
governmental activities and business-type activities, respectively.
The annual requirements to amortize all debt outstanding as of June 30, 2025 including total
interest payments of $9,365,365 and total administrative fees of $985,893 are as follows:
Special
Year Ending Obligation Revenue
June 30,Bonds Bonds Total
2026 4,149,329$ 5,223,256$ 9,372,585$
2027 4,165,447 5,242,331 9,407,778
2028 4,168,573 5,257,543 9,426,116
2029 4,195,044 5,278,587 9,473,631
2030 4,217,683 5,292,134 9,509,817
2031 5,375,748 5,310,306 10,686,054
2032 4,923,190 5,327,924 10,251,114
2033 4,737,063 4,456,949 9,194,012
2034 4,069,456 4,476,007 8,545,463
2035 2,049,583 2,240,168 4,289,751
2036 360,937 - 360,937
Total 42,412,053$ 48,105,205$ 90,517,258$
Interest expense was charged to functions as follows in the statement of activities:
Governmental Activities:
Interest and Other Costs $1,011,952
Total $1,011,952
Business-Type Activities:
Sewer $ 765,983
Solid Waste 40,897
Water 136,829
Total $ 943,709
Missouri statutes limit the amount of general obligation debt that a city can issue to 5.00% of the
total assessed value of taxable property located within that city’s boundaries. The legal debt
margin for the City of Cape Girardeau is $40,684,086.
47
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE G – CONDUIT DEBT OBLIGATIONS
To further economic development in the City, the City of Cape Girardeau, Missouri has issued
bonds that provide capital financing to a private-sector entity for the acquisition and construction
of industrial and commercial facilities. The property financed is pledged as collateral, and the
bonds are payable solely from payments received from private-sector entity on the underlying
mortgage or promissory note. In addition, no commitments, beyond the collateral, the payments
from the private-sector entity, and maintenance of the tax-exempt status of the conduit debt
obligation were extended by the City of Cape Girardeau, Missouri for the bonds. At June 30, 2025,
the bonds have an aggregate outstanding principal amount payable of $968,671.
NOTE H - PENSION PLAN
1. Plan Description
The City of Cape Girardeau’s defined benefit pension plan provides certain retirement, disability,
and death benefits to plan members and beneficiaries. The City participates in the Missouri Local
Government Employees Retirement System (LAGERS). LAGERS is an agent multiple-employer,
statewide public employee pension plan established in 1967 and administered in accordance with
RSMo. 70.600-70.755. As such, it is LAGERS’ 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 401(a) and is tax exempt. The responsibility for the operations and
administration of LAGERS is vested in the LAGERS Board of Trustees consisting of seven
persons. LAGERS issues a publicly available financial report that includes financial statements
and required supplementary information. This report may be obtained by accessing the LAGERS
website at www.molagers.org.
2. Benefits Provided
LAGERS provides retirement, death, and disability benefits. Benefit provisions are adopted by the
governing body of the employer, within the options available in the state statutes governing
LAGERS. All benefits vest after 5 years of credited service. Employees who retire on or after age
60 (55 for police and fire) with 5 or more years of service are entitled to an allowance for life based
upon the benefit program information provided below. Employees may retire with an early
retirement benefit with a minimum of 5 years of credited service and after attaining age 55 (50 for
police and fire) and receive a reduced allowance.
Effective October 1, 2022 the City began providing benefits to its current employees under the L-
6 benefit program available through LAGERS. Future benefits will be based on the final 3 year
average salary multiplied by 2.00% and by years of service. The future benefits are multiplied by
2.00% until age 65. The final 3 year average equals the 36 consecutive months of credited services,
48
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE H - PENSION PLAN - continued
producing the highest monthly average during the last 120 consecutive months of credited service
immediately preceding retirement.
Benefit terms provide for annual post retirement adjustments to each member’s retirement
allowance subsequent to the member’s retirement date. The annual adjustment is based on the
increase in the Consumer Price Index and is limited to 4% per year.
3. Covered Employees
At June 30, 2025 the following employees were covered by the benefits terms:
Retirees and Beneficiaries 342
Inactive, Non-retired Members 245
Active Members 327
Total 914
4. Contributions
Full-time employees of the City of Cape Girardeau do not contribute to the pension plan. The City
is required to contribute amounts at least equal to the actuarially determined rate, as established by
LAGERS. The actuarially determined rate is the estimated amount necessary to finance the cost
of benefits earned by employees during the year. Additional adjustments are made to these rates
based on the over or under funded status of each plan with additional charges to finance any
unfunded accrued liability or credits to use a portion of the assets from plans that have more assets
than accrued liability. The current year employer annual contribution rates were 9.1% (General),
12.5% (Police), 11.1% (Public Safety), and 18.4% (Fire) of annual covered payroll.
The original annual required contribution (ARC) was determined as part of the February 28, 20 23
annual actuarial valuation using the entry age actuarial cost method.
5. Net Pension Asset
The City’s net pension asset was measured as of June 30, 2025, and the total pension liability used
to calculate the net pension asset was determined by an actuarial valuation as of February 28, 2025.
49
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE H – PENSION PLAN - continued
6. Actuarial Assumptions
The total pension liability in the February 28, 2025 actuarial valuation was determined using the
following actuarial assumptions, applied to all periods included in the measurement:
Inflation 2.75% wage inflation, 2.25% price inflation
Salary Increase 2.75% to 6.55% including wage inflation
Investment Rate of Return 7.00% net of investment expenses
The healthy retiree mortality tables, for post-retirement mortality, used in evaluating allowances
to be paid were 115 percent of the PubG-2010 retiree for males and females. The disabled retiree
mortality tables, for post-retirement mortality, used in evaluating allowances to be paid were 115
percent of the PubNS-2010 disabled retiree mortality table for males and females. The pre-
retirement mortality tables used were 75 percent of the PubG-2010 employee mortality table for
males and females of general groups and 75 percent of the PubS-2010 employee mortality table
for males and females of the Police, Fire, and Public Safety groups. Mortality rates for a particular
calendar year are determined by applying the MP-2020 mortality improvement scale to the above
described tables.
The actuarial assumptions used in the February 28, 2025 valuation were based on the results of an
actuarial experience study for the period March 1, 2015 through February 29, 2020.
The long-term expected rate of return on pension plan investments was determined using a model
method in which the best-estimate ranges of expected future real rates of return (expected returns,
net of investment expenses and inflation) are developed for each major asset class. These ranges
are combined to produce the long-term expected rate of return by weighting the expected future
real rates of return by the target asset allocation percentage and by adding expected inflation. The
target allocation and best estimates of arithmetic real rates of return for each major asset class are
summarized in the following table:
Weighted Average
Target Long-Term Expected
Asset Class Allocation Real Rate of Return
Alpha 5.00% 1.76%
Equity 39.00% 3.39%
Fixed Income 23.00% 3.54%
Real Assets 33.00% 2.68%
Strategic Assets 7.00% 2.83%
Cash/Leverage -7.00% -0.86%
50
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE H – PENSION PLAN - continued
7. Discount Rate
The discount rate used to measure the total pension liability is 7.00%. The projection of cash flows
used to determine the discount rate assumes that the City’s contributions will be made at the
actuarially determined rates. Based on these assumptions, the pension plan’s fiduciary net position
was projected to be available to pay all projected future benefit payments of current active and
inactive employees. Therefore, the long-term expected rate of return on pension plan investments
was applied to all periods of projected benefit payment to determine the total pension liability.
8. Changes in the Net Pension Asset
Plan Fiduciary Total Pension Net Pension
Net Position Liability Asset
(a)(b)(a) - (b)
Balances at 6/30/2024 123,527,496$ 118,076,201$ 5,451,295$
Changes for the year:
Service cost - 2,341,195 (2,341,195)
Interest - 8,130,344 (8,130,344)
Change in Benefit Terms - - -
Difference between expected
and actual experience - 2,913,635 (2,913,635)
Contributions - employer 2,299,145 - 2,299,145
Net investment income 7,609,446 - 7,609,446
Benefit payments, including refunds (6,264,427) (6,264,427) -
Administrative expense (104,194) - (104,194)
Other changes 809,216 - 809,216
Net changes 4,349,186 7,120,747 (2,771,561)
Balances at 6/30/2025 127,876,682 125,196,948 2,679,734
Increase (Decrease)
Net Pension Asset (Liability) of the City, calculated using the discount rate of 7.00%, as well as
what the City’s Net Pension Asset (Liability) would be using a discount rate that is 1 percentage
point lower (6.00%) or one percentage point higher (8.00%) than the current rate.
51
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE H – PENSION PLAN - Continued
Current Single Discount
1% Decrease Rate Assumption 1% Increase
6.00% 7.00% 8.00%
$14,965,536 $2,679,134 $(17,195,420)
9. Pension Expense, Deferred Outflows of Resources and Deferred Inflows of Resources
For the fiscal year ended June 30, 2025 the City recognized pension expense of $1,895,565. The
employer reported deferred outflows and inflows of resources related to pensions from the
following sources:
Net
Deferred Deferred Outflows
Outflows Inflows (Inflows)
of Resources of Resources of Resources
Differences in experience $ 5,196,909 $ (197,065) $ 4,999,844
Differences in assumptions -0- (111,652) (111,652)
Excess (deficit) in investment returns 5,243,176 (5,338) 5,237,838
Total $ 10,440,085 $ (314,055) $ 10,126,030
Amounts reported as deferred outflows and inflows of resources related to pensions will be
recognized in pension expense as follows:
Year ended:
2026 $ 4,992,011
2027 2,847,710
2028 1,508,357
2029 609,929
2030 168,023
Thereafter -0-
Total $ 10,126,030
52
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE H – PENSION PLAN - continued
10. Payable to the Pension Plan
At June 30, 2025 the City reported a payable of $173,126 for the outstanding amount of
contributions to the pension plan required for the year ended June 30, 2025.
NOTE I – POSTRETIREMENT HEALTHCARE BENEFITS
1. Description
The City follows the provisions of GASB Statement No. 75, Accounting and Financial Reporting
for Postemployment Benefits Other Than Pensions. In addition to the relevant disclosures within
this note related to GASB Statement No. 75, the financial statements reflect a long -term liability
and related expenses of $8,083,645 and $874,556, respectively, in the governmental and business-
type activities combined.
The City, through its substantive commitment to provide other post-employment benefits (OPEB),
maintains a single-employer defined benefit plan to provide certain postretirement healthcare
benefits to all eligible former full-time employees until the retiree is eligible for Medicare (age
65). Such benefits are not available to members’ spouses or dependents - only to eligible former
employees as previously described. Specific details of the Plan include the provision of certain
medical and dental coverage. These benefits are provided through the City’s self-insured
programs. The City is under no statutory or contractual obligation to provide these postretirement
healthcare benefits. Because the Plan consists solely of the City’s firm commitment to provi de
OPEB through the payment of premiums to its self -insured programs on behalf of its eligible
retirees, no stand-alone financial report is either available or generated.
2. Funding Policy
Premiums under the Plan for post-employment healthcare benefits are funded in accordance with
rates established by the City for its governmental and business-type funds. Effective July 1, 2010,
employees hired on or after that date will not qualify for retiree healthcare coverage. Effective
April 1, 2012 employees who retire early (prior to age 55 for police and fire and prior to age 60
for all other city employees) are not eligible for retiree healthcare coverage. For the year ended
June 30, 2023, the City paid the full premium cost for eligible retired employees who were hired
prior to January 1, 2007. For eligible employees hired on/after January 1, 2007, the City paid a
percentage of the full premium cost for retired employees with single coverage according to years
of service at retirement. For employees with 10 to 14 years of service at retirement, the City’s
subsidy was 50%. The subsidy for employees with 15 to 19 years of service was 60%, 20 to 24
years was 70%, and employees with more than 24 years of service at retirement received 100%
subsidy. The retiree is responsible for the full cost of dependent coverage. The plan is financed
on a pay-as-you-go basis.
53
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE I – POSTRETIREMENT HEALTHCARE BENEFITS - Continued
3. Employees Covered by Benefit Terms
As of June 30, 2025, the following employees were covered by the benefit terms:
Retirees 34
Active 84
Total 118
4. Total OPEB Liability
The City’s total OPEB liability of $8,958,201 was measured as of June 30, 2025, and was
determined by an actuarial valuation date of June 30, 2024 with results actuarially projected to the
June 30, 2025 measurement date, reflecting actual premiums and contributions.
5. Actuarial Assumptions and Other Inputs
Inflation – 2.75%
Salary increases – 2.75% plus merit / productivity increases as shown on the Missouri Local
Government Retirement System’s June 30, 2023 actuarial valuation
Discount Rate - 5.20% as of June 30, 2025 and 4.21% as of June 30, 2024
Healthcare cost trend rates - Medical / Rx cost trend rate of 6.25% for 2025, gradually decreasing
to an ultimate rate of 4.5% for 2032 and beyond
Dental cost trend rate of 4.0% for 2026 and beyond
Mortality – SOA Pub-2010 General Headcount Weighted Mortality Table fully generational using
Scale MP-2021 is used for General employees and retirees. SOA Pub-2010 Public Safety
Headcount Weighted Mortality Table fully generational using Scale MP-2021 is used for Police
and Fire employees and retirees. SOA Pub-2010 Contingent Survivor Headcount Weighted
Mortality Table fully generational using Scale MP-2021 is used for surviving spouses.
Actuarial Cost Method - Entry Age Normal
The discount rate was based on 20 Year Bond GO Index.
The plan has not had a formal actuarial experience study performed.
54
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE I – POSTRETIREMENT HEALTHCARE BENEFITS - Continued
6. Changes in the Total OPEB Liability
Balance at June 30, 2024 $ 9,833,499
Changes for the Year:
Service Cost 157,085
Interest on Total OPEB Liability 403,414
Effect of Economic/Demographic Gains or Losses 91,331
Effect of Assumptions Changes or Inputs (702,018)
Benefit Payments (825,110)
Net Changes (875,298)
Balance at June 30, 2025 $ 8,958,201
7. Sensitivity Analysis
The following presents the total OPEB liability of the City, calculated using the discount rate of
5.20%, as well as what the City’s total OPEB liability would be if it were calculated using a
discount rate that is one percentage point higher (6.20%) or lower (4.20%) than the current rate.
Healthcare Cost
Trend Rates
1% Decrease Rate Assumption 1% Increase
Net OPEB liability 9,616,011$ 8,958,201$ 8,355,788$
Sensitivity of Net OPEB Liability as of June 30, 2025
to the Healthcare Cost Trend Rate Assumption
The following presents the total OPEB liability of the City, calculated using the current healthcare
cost trend rates as well as what the City’s total OPEB liability would be if it were calculated using
trend rates that are one percentage point higher or lower than the current trend rates.
Healthcare Cost
Trend Rates
1% Decrease Rate Assumption 1% Increase
Net OPEB liability 8,224,332$ 8,958,201$ 9,781,601$
Sensitivity of Net OPEB Liability as of June 30, 2025
to the Healthcare Cost Trend Rate Assumption
55
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE I – POSTRETIREMENT HEALTHCARE BENEFITS - Continued
8. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to OPEB
For the year ended June 30, 2025, the City recognized OPEB expense of $250,647. At June 30,
2025, the City reported deferred outflows of resources and deferred inflows of resources related to
OPEB from the following sources:
Deferred Deferred
Outflows of Inflows
Resources Resources
Differences between expected and actual experience $ 592,356 $ (852,360)
Changes of assumptions or other inputs 392,205 (215,877)
Total $ 984,561 $ (1,068,237)
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
OPEB will be recognized in the City’s OPEB expense as follows:
Year Ended June 30:
2026 $ (338,825)
2027 192,905
2028 62,444
2029 -0-
2030 -0-
Thereafter -0-
Total $ (83,476)
NOTE J - INTEREST EXPENSE
Interest and handling charges totaling $1,064,318, excluding $222,767 of inter-fund interest, were
incurred by governmental funds during the year ended June 30, 2025. Interest and handling
charges totaling $943,709, excluding $8,871 of inter-fund interest, were incurred by proprietary
funds during the year ended June 30, 2025. No interest cost was capitalized as part of the cost of
assets constructed during the period.
The City makes transfers between various funds for routine and normal operating expenses and
for capital asset acquisitions.
56
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE K - INTER-FUND ACTIVITY
A. The following is a summary of inter-fund transfers for the year ended June 30, 2025:
Fund Transfer From Transfer To
General Fund 5,672,004$ 6,473,344$
Park and Recreation Fund 28,943 1,526,893
Park & Development Foundation 21,000 -
Public Safety Trust Fund II 1,633,280 3,284,561
Casino Revenue Fund 593,122 2,624
Riverfront Region Economic Dev Fund - 193,122
Motor Fuel Tax Fund 1,543,393 -
Park/Storm Water Sales Tax - Cap 3,472,390 208
Fire Sales Tax 3,284,561 -
Parks/Storm Water Sales Tax 1,688,629 -
Capital Improvements Sales Tax 1,437,840 400,000
Airport Fund - 865,327
Sewer System Improvements 3,068,126 -
Stormwater System Improvements Ph 2 - 151,501
Sewer Fund - 4,756,756
Water Fund - 1,450,944
Indoor Sportsplex - 127,517
Sporting Complexes - 829,232
Park System Improvements Ph 2 - 1,641,259
Fringe Benefits Fund - 560,000
Risk Management Fund - 180,000
22,443,288$ 22,443,288$
B. The following is a summary of inter-fund balances as of June 30, 2025:
Advance to/from other funds:
Advances from Advances to
Casino Revenue Fund $ 1,606,675 $ -0-
Airport Fund -0- 1,146,976
Solid Waste Fund -0- 459,699
$ 1,606,675 $ 1,606,675
57
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE K - INTER-FUND ACTIVITY - Continued
The inter-fund balances are a result of advances used to purchase capital assets. The advances are
earning 3% and 3.5% annual interest and are set up to be repaid based on a 20 year amortization.
Final payments are expected on June 1, 2035 and June 1, 2039.
NOTE L – GOVERNMENTAL FUND BALANCES REPORTING
In order to improve the usefulness and understandability of governmental fund balance
information, the Governmental Accounting Standards Board issued Statement No. 54 in which it
classified fund balance into the following categories: Nonspendable, Restricted, Committed,
Assigned, and Unassigned. Definitions of each category and a reconciliation of how the City of
Cape Girardeau reported its Fund Balance follow.
Nonspendable Fund Balance – Includes amounts that cannot be spent because they are either (a)
not in spendable form or (b) legally or contractually required to be maintained intact. The “not in
spendable form” criterion includes items that are not expected to be converted to cash, for example,
inventories and prepaid amounts. It also includes long-term receivables that are not currently
available for expenditure. These financial statements reflect non-spendable fund balances of
$122,629 that are legally restricted to provide for the perpetual care and maintenance of a
mausoleum in the City’s cemetery. Only interest earnings on this amount can be used for
mausoleum maintenance. Prepaid expenses of $474,462 and long-term advance receivables of
$1,606,675 are also reflected as non-spendable fund balances.
Restricted Fund Balance – Includes amounts that can be spent only for specific purposes because
of restrictions by external parties, constitutional provisions, or enabling legislation. These financial
statements include the following restricted fund balances. Fund balances totaling $5,497,483 are
restricted by the City Charter to use during officially declared emergencies. Special revenue fund
balances totaling $51,363,424 are restricted by their enabling legislation. $1,695,165 in capital
project fund balances are restricted as the result of special revenue transfers and unspent bond
proceeds.
Committed Fund Balance – These funds can only be used for specific purposes pursuant to
constraints imposed by formal action of the City’s highest level of decision-making authority (the
City Council). Those amounts cannot be used for any other purpose unless the government
removes or changes the specified use by taking the same type of formal action it employed to
previously commit those amounts. Typically, a resolution by the city council would be needed to
commit a portion of a fund balance for a specific purpose. The fund balance of the Casino Revenue
Fund is committed for various uses identified in a policy approved by the City Council.
58
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE L – GOVERNMENTAL FUND BALANCES REPORTING - continued
Assigned Fund Balance – Amounts that are constrained by the government’s intent to be used for
specific purposes, but are neither restricted nor committed. For all governmental funds other than
the general fund, any remaining positive amounts not classified as nonspendable, r estricted, or
committed. For the general fund, amounts can be assigned the intent to be used for a specific
purpose by the city council or a city official authorized by the city council; the amount reported as
assigned should not result in a deficit in unassigned fund balance.
Unassigned Fund Balance – For the general fund, amounts not classified as nonspendable,
restricted, committed, or assigned are included here. For all other governmental funds, it is the
amount expended in excess of resources that are nonspendable, restricted, committed, or assigned.
The general fund is the only fund that should have a positive amount in this classification.
Order of Usage – Unless specifically identified, expenditures will reduce related restricted
balances first, and then related committed balances, next related assigned balances, and finally
unassigned balances. Expenditures for a specifically identified purpose will reduce the specific
classification of fund balance that is identified.
General Airport Non-Major
Fund Fund Funds Total
Fund balances
Nonspendable:
Prepaid expenses 357,970$ 25,434$ 91,058$ 474,462$
Long-term advance - - 1,606,675 1,606,675
Mausoleum 122,629 - - 122,629
Restricted for:
Emergencies 4,385,718 - 1,111,765 5,497,483
Undistributed TIF revenue 85,461 - - 85,461
Convention and tourism - - 7,342,198 7,342,198
Public safety - - 640,424 640,424
Street projects - - 27,767,202 27,767,202
Sewer system projects - - 6,339,759 6,339,759
Parks and recreation - - 5,481,217 5,481,217
Other capital projects - - 5,402,328 5,402,328
Committed:
Other capital projects - - 5,669,459 5,669,459
Assigned to:
Parks and recreation - - 2,271,507 2,271,507
Encumbrances 48,202 - - 48,202
Public safety - - 921,442 921,442
Unassigned:19,608,668 (2,071,078) (66,628) 17,470,962
24,608,648$ (2,045,644)$ 64,578,406$ 87,141,410$
59
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE M - PROPRIETARY FUNDS RESTRICTED NET POSITION AND RESTRICTED
CASH EQUIVALENTS AND INVESTMENT
At June 30, 2025, net position restricted for depreciation and replacement was $150,000 for the
City’s Water Fund, and net position restricted for emergencies were $781,394, $1,047,053,
$847,313, $120,910, $141,055 and $175,831 for the City’s Sewer, Water, Solid Waste, Golf
Course, Indoor Sporting Complex, and Sporting Complex, respectively.
At June 30, 2025, the City’s Sewer Fund had restricted cash equivalents in sinking reserve funds
for Revenue Bonds in the amount of $4,730,143.
NOTE N - LANDFILL CLOSURE AND POSTCLOSURE CARE COST
The City has used the option of a Contract of Obligation as the financial assurance instrument for
the landfill. The City issued bonds in October 1994 from which the proceeds were used to pay the
closure costs.
NOTE O - RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; natural disasters; cyber-attacks; and employee health benefits. These
risks, with the exception of those discussed in the following paragraphs, are covered by
commercial insurance. Settled claims have not exceeded this commercial coverage in any of the
past fifteen fiscal years.
The City’s insurance coverage is as follows:
Commercial general liability, law enforcement liability, public officials errors and omissions, and
employment-related practices liability is carried by Sunstar Insurance Group – Producer Sunstar
Insurance Group, LLC DBA W. E. Walker Lakenan.
Cyber Risk liability (Risk Manager PLUS+) coverage is carried by The Travelers
Companies/Bond & Specialty Insurance – Producer Sunstar Insurance Group, LLC DBA W. E.
Walker Lakenan.
Vehicle loss and accident liability is carried by Sunstar Insurance Group – Producer Sunstar
Insurance Group, LLC DBA W. E. Walker Lakenan.
Airport liability is carried by National Union Fire Insurance Company - Producer EBCO Aviation
Underwriters.
60
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE O - RISK MANAGEMENT – continued
Property insurance is carried by Chubb Group of Insurance Companies/Federal Insurance
Company – Producer Sunstar Insurance Group, LLC DBA W. E. Walker Lakenan.
Equipment coverage is carried by Travelers Property Casualty Company – Producer Sunstar
Insurance Group, LLC DBA W. E. Walker Lakenan.
The City has established self-insurance plans for employees’ health insurance and workers’
compensation. Both of these are accounted for using internal service funds. Under each plan, the
City is substantially self-insured and uses an administrator to handle claims management.
The City provided health coverage to its employees through a self -insured plan administered by
Crescent Health Solutions. Under the plans, the City paid the administrator a monthly premium
for claims administration, cost management and specific and aggregate stop loss coverage (handled
by Symetra – a third party). The City reimbursed the administr ator for claims paid up to the
specific stop loss amount of $150,000 per employee during each calendar year included in the
current fiscal year.
Brentwood Service Administrators administers the City’s workers’ compensation plan. Under this
plan, the City pays the administrator a flat quarterly fee to administer its claims. All claims are
paid directly by the City. The City has purchased insurance coverage from Midwest Employers
that limits the City’s maximum individual claims liability to $750,000 for USL & H (Public Safety)
and $500,000 for other regular employees and per occurrence claims liability to $1,000,000. Rates
are charged by the internal service fund to the other City funds based on rates and experience
factors established by the National Council on Compensation Insurance and City of Cape
Girardeau actual claims trends.
Claims liability is estimated using data supplied by the administrator. The claims activity during
the last five years is summarized as follows:
61
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE O - RISK MANAGEMENT - Continued
NOTE P - CONCENTRATION OF CREDIT RISK/BAD DEBT ALLOWANCE
The City has uncollateralized utility accounts receivable generated within a limited geographical
region primarily consisting of its City limits. The City also has taxes, special assessments, and
user fees receivable which are concentrated among its citizens. Some of these items attach as liens
against real and personal property. The maximum accounting loss is the amount shown as utility
charges receivable on the statement of net position.
At June 30, 2025, utility receivables totaled $2,986,532. On the financial statements, the utility
receivables are shown net of the allowance for doubtful accounts of $50,404. This results in net
utility receivable of $2,936,128. During the year ended June 30, 2025, the allowance was
decreased by $79 and accounts totaling $74,530 were written off.
Health Workers'
Insurance Compensation Total
Balance June 30, 2020 134,000$ 643,000$ 777,000$
Provisions for Incurred Claims 3,471,412 1,325,119 4,796,531
Payment of Claims (3,252,412) (1,219,619) (4,472,031)
Balance June 30, 2021 353,000$ 748,500$ 1,101,500$
Provisions for Incurred Claims 3,575,784 432,228 4,008,012
Payment of Claims (3,574,884) (869,728) (4,444,612)
Balance June 30, 2022 353,900$ 311,000$ 664,900$
Provisions to Incurred Claims 5,021,473 633,235 5,654,708
Payment of Claims (5,084,373) (573,235) (5,657,608)
Balance June 30, 2023 291,000$ 371,000$ 662,000$
Provisions for Incurred Claims 4,161,760 703,398 4,865,158
Payment of Claims (4,145,760) (618,298) (4,764,058)
Balance June 30, 2024 307,000$ 456,100$ 763,100$
Provisions for Incurred Claims 2,945,489 639,833 3,585,322
Payment of Claims (2,849,489) (768,633) (3,618,122)
Balance June 30, 2025 403,000$ 327,300$ 730,300$
CLAIMS LIABILITIES RECONCILIATION
62
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE Q - COMMITMENTS AND CONTINGENCIES
1. Litigation
Various claims and lawsuits are pending against the City. In the opinion of City management,
the potential loss on all claims and lawsuits will not be significant to the City’s financial
statements.
2. Grant Audit
The City receives Federal and State Grants for specific purposes that are subject to review and
audit by various Federal and State agencies. Such audits could result in a request for
reimbursement by any of the Federal and State agencies for expenditures disallowed under the
terms and conditions of the appropriate agency. In the opinion of City management, such
disallowances, if any, will not be significant.
3. Construction Commitments
As of June 30, 2025, the City had construction commitments outstanding of $10,595,696. The
construction commitments represent incomplete portions of contracts entered into to construct
various street projects, youth ballfield expansion, water and sewer projects, and equipment
purchases. These contracts are expected to be completed within the next fiscal year.
4. Encumbrances
As of June 30, 2025, the City had encumbrances outstanding of $12,779,697.
NOTE R – PRIOR PERIOD ADJUSTMENTS
The net position of the business-type activities and the fund balance of the Softball Complex Fund
were decreased by $5,353 as of June 30, 2025, from long term lease receivables that were entered
into a prior year and not property recognized.
NOTE S - TAX ABATEMENTS
The City has entered into real property tax abatement agreements with developers pursuant to
provisions of Chapter 353 of the Revised Statutes of Missouri. During the first 10 years of
abatement, 100% of the incremental increase in real property taxes on the land and 100% of the
real property taxes on all improvements are abated. During the next 15 years, between 50% and
100% of the incremental real property taxes on all land and all land improvements are abated.
During the current fiscal year $545 in real property taxes were abated related to provisions of
Chapter 353. The abatements related to a project to convert an abandoned retail building into an
office building for a national call center. These abatements will expire in 2032.
63
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE T - CONTINGENCY
1. In July 2007, the City entered into a development agreement with Greater Missouri
Builders, Inc. (GMB) to reimburse them for costs associated with the Town Plaza
Redevelopment Project. In conjunction with this agreement, the City established the Town
Plaza Community Improvement District (CID) and determined the project area to be
blighted pursuant to Chapter 353 of the Missouri Revised Statutes.
This project involved the conversion of the former Sears facility into a call center for
National Asset Recover Services (NARS) and other various improvements, such as facade
improvements, parking facilities, roof reconstruction, and HVAC enhancements. Tot al
reimbursements to GMB for redevelopment costs were limited to $3.6 million plus 7.5%
interest. These reimbursements will be made from incremental County and City sales tax
revenues, an additional CID sales tax, and real estate tax abatements. Reimbursements from
incremental County and City sales tax revenue will be limited to $1.2 of the $3.6 million
total.
Incremental County and City sales tax revenue was defined as the difference in future tax
revenues from the City’s 1% general sales tax and .5% capital improvement sales tax and
half the County’s .5% general sales tax and the revenues from these taxes from the project
area in calendar year 2006. The CID implemented a 1% sales tax. Improvements to the
redevelopment project will receive 100% real estate tax abatement for the first 10 years
and 50% real estate tax abatement for the next 15 years. The current Sears facility will
receive 50% real estate tax abatement for 25 years. Based on 2006 assessed values the
abatement of City taxes on the unimproved Sears facility would be $628.
Beginning in year six of the agreement, 50% of the gross rentals from the NARS site will
be used to supplement the incremental sales tax revenues. Reimbursements from
incremental sales tax revenues expire with repayment of the amount to be paid by
incremental sales tax or 20 years, whichever comes first.
This project was completed at a cost of $3,203,308. Reimbursement from incremental
County and City sales tax revenue is limited to $1,164,839. The City and the County are
obligated to make quarterly payments as may lawfully be made from funds budgeted and
appropriated for that purpose by the City and County.
During the fiscal year ended June 30, 2025, the City incurred payments of $99,277 under
the development agreement. This amount is included in the Development Services
expenses on the statement of activities.
2. In June 2004, the City of Cape Girardeau and Cape Girardeau County entered into a
development agreement with a local real estate developer. Under the agreement, the local
developer agreed to pay for certain public improvements incurred in conjunction with the
64
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE T – CONTINGENCY - continued
development of a 60 acre retail development, and the City and County agreed to reimburse
the local business for the $2,998,434 cost of these improvements plus 4% interest with
quarterly payments from available net sales tax revenue generated from any businesses
operations located in the development.
Available revenue is defined by the agreement as all the net sales tax revenue generated by
two .25% City capital improvement sales taxes and the .50% City transportation sales tax
and half of the net sales tax revenue generated by a .50% County sales tax. All City sales
taxes have expiration dates that could occur before the total costs of the improvements are
reimbursed to the developer. The County sales tax has no expiration date. No provision is
made to replace revenues from the City sales taxes that expire if they are not extended. The
development agreement remains in effect until the total cost of the public improvements is
reimbursed to the developer.
In October 2012, the City of Cape Girardeau and Cape Girardeau County entered into an
amendment to the original development agreement. Under the agreement, the local
developer agreed to pay for additional public improvements incurred in conjunction with
the development of the 60 acre retail development, and the City and County agreed to
reimburse the local business for the $2,024,360 cost of these improvements from available
net sales tax revenue generated from an Academy Sports retail store. Academy Spor ts
began operation in May 2013.
The City and County are required by the development agreement to reimburse the
developer for the additional public improvement costs related to Academy Sports after the
original development costs have been reimbursed with quarterly payments from available
revenue. Available revenue is defined by the agreement as all the net sales tax revenue
generated by Academy Sports at that location on sales that exceed an inflation adjusted
$2.5 million annually from two .25% City capital improvement sales taxes and half of the
.50% City transportation sales tax and half of the net sales tax revenue generated by a .50%
County sales tax. All City sales taxes have expiration dates that could occur before the
total costs of the improvements are reimbursed to the developer. The County sales tax has
no expiration date. No provision is made to replace revenues from the City sales taxes that
expire if they are not extended. The development agreement remains in effect until the total
cost of the additional public improvements is reimbursed to the developer or fifteen years
from the beginning of repayments to the developer for costs related to the additional public
improvements.
65
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE T – CONTINGENCY - continued
The City and the County are obligated only to make quarterly payments as may lawfully
be made from funds budgeted and appropriated for that purpose by the City and County.
During the fiscal year ended June 30, 2025 the City incurred payments of $145,659 under
the development agreement. This amount is included in the Development Services
expenses on the statement of activities.
3. In November 2015, the City of Cape Girardeau entered into a development agreement with
Drury Southwest, Inc. (the “Company”). Under this agreement, the Company agreed to
construct a 168-room hotel and adjoining restaurant with an approximately 20,000 square
foot conference center. In recognition of the significant economic benefits to the City, once
the facility became operational, the City agreed to reimburse the Company for part of the
cost of constructing the conference center from available net sales tax revenues generated
from the operations of the hotel, restaurant, and conference center.
As of October 3, 2017, the Company had substantially completed the project, having
incurred $6,938,689 in costs under the development agreement. The City is required by the
agreement to reimburse the developer for these costs, up to a maximum of $6,250,000,
from available revenues. Available revenue is defined by the agreement as all the net sales
tax revenue generated by the 1% general sales tax and two .25% capital improvement sales
taxes relating to the operations of the hotel, restaurant, and conference center. One of the
capital improvement sales taxes has an expiration date that could occur before the total
costs of the improvements are reimbursed to the developer. No provision is made to replace
revenues from the City sales taxes that expire if they are not extended. The development
agreement expires 20 years from December 31, 2017, or as soon as the City has completely
reimbursed the Company for the total of reimbursable costs, if that happens first.
The City is obligated only to make quarterly payments as may lawfully be made from funds
budgeted and appropriated for that purpose by the City. During the fiscal year ended June
30, 2025, the City incurred $97,729 under the development agreement.
NOTE U – RELATED PARTY TRANSACTION
The City receives marketing and advertising services from a local marketing firm. The
marketing firm is owned and operated by the spouse of a city council member. As of June
30, 2025, $178,203 has been paid to the marketing firm.
66
City of Cape Girardeau, Missouri
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2025
NOTE V – DEFICIT FUND BALANCE
The City has a deficit fund balance at June 30, 2025 as follows:
Deficit Fund
Balance
Airport Fund $2,045,644
REQUIRED SUPPLEMENTAL INFORMATION
Variance with
Original Final Actual Final Budget
REVENUES:
Taxes 25,269,464$ 25,269,464$ 27,116,972$ 1,847,508$
Licenses and Permits 2,094,784 2,094,784 2,200,888 106,104
Intergovernmental 293,951 293,951 541,844 247,893
Charges for Services 231,669 231,669 162,239 (69,430)
Internal Charges 1,173,247 1,173,247 1,446,453 273,206
Fines and Forfeits 246,274 246,274 250,592 4,318
Miscellaneous 352,959 352,959 369,134 16,175
Special Assessments 33,242 33,242 55,843 22,601
Investment Revenue 336,659 336,659 1,024,749 688,090
TOTAL REVENUES 30,032,249$ 30,032,249$ 33,168,714$ 3,136,465$
EXPENDITURES:
Current:
Administrative Services 4,442,278$ 4,310,998$ 3,728,043$ 582,955$
Development Services 3,120,574 3,112,328 2,839,448 272,880
Parks and Recreation 1,776,050 1,796,407 1,790,567 5,840
Public Safety 19,158,071 19,332,825 19,259,496 73,329
Public Works 2,570,635 2,586,299 2,520,294 66,005
Capital Outlay:
Administrative Services 30,000 8,500 - 8,500
Development Services - - - -
Parks and Recreation - - 2,300 (2,300)
Public Safety - 400,997 438,166 (37,169)
TOTAL EXPENDITURES 31,097,608$ 31,548,354$ 30,578,314$ 970,040$
REVENUES OVER (UNDER)
EXPENDITURES (1,065,359)$ (1,516,105)$ 2,590,400$ 2,166,425$
OTHER FINANCING SOURCES (USES):
Compensation for Damages -$ -$ 1,937$ 1,937$
Settlements - - 136,403 136,403
Asset Disposition - - 21,841 21,841
Transfers In 6,452,500 6,452,500 6,473,344 20,844
Transfers Out (5,400,769) (5,521,494) (5,672,004) (150,510)
TOTAL OTHER FINANCING SOURCES
(USES)1,051,731$ 931,006$ 961,521$ 30,515$
TOTAL REVENUES OVER (UNDER)
EXPENDITURES (13,628)$ (585,099)$ 3,551,921$ 2,196,940$
FUND BALANCE, July 1, 2024 21,004,334 21,004,334 21,004,334 -
FUND BALANCE, June 30, 2025 20,990,706$ 20,419,235$ 24,556,255$ 2,196,940$
Budgeted Amounts
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL - GENERAL FUND
Year Ended June 30, 2025
See Independent Auditors' Report.
67
Variance with
Original Final Actual Final Budget
REVENUES:
Intergovernmental 1,567,000$ 1,567,000$ 4,541,322$ 2,974,322$
Charges for Services 641,147 641,147 712,662 71,515
Miscellaneous 348,028 348,028 410,552 62,524
Investment Revenue - - 119,512 119,512
TOTAL REVENUES 2,556,175$ 2,556,175$ 5,784,048$ 3,227,873$
EXPENDITURES:
Current:
Development Services 1,933,416$ 1,933,416$ 2,350,366$ (416,950)$
Capital Outlay:
Development Services 4,200,000 5,123,043 4,501,346 621,697
TOTAL EXPENDITURES 6,133,416$ 7,056,459$ 6,851,712$ 204,747$
REVENUES OVER (UNDER)
EXPENDITURES (3,577,241)$ (4,500,284)$ (1,067,664)$ 3,023,126$
OTHER FINANCING SOURCES (USES):
Advance Repayment (88,086)$ (88,086)$ (88,086)$ -$
Transfers In 865,327 865,327 865,327 -
TOTAL OTHER FINANCING SOURCES
(USES)777,241$ 777,241$ 777,241$ -$
TOTAL REVENUES OVER (UNDER)
EXPENDITURES (2,800,000)$ (3,723,043)$ (290,423)$ 3,023,126$
FUND BALANCE, July 1, 2024 (845,253) (845,253) (845,253) -
FUND BALANCE, June 30, 2025 (3,645,253)$ (4,568,296)$ (1,135,676)$ 3,023,126$
CITY OF CAPE GIRARDEAU, MISSOURI
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL - AIRPORT FUND
Year Ended June 30, 2025
Budgeted Amounts
See Independent Auditors' Report.
68
69
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2025
BUDGETS AND BUDGETARY ACCOUNTING
The City adopts annual operating budgets for all funds except Storm Water Projects from Park /
Storm Water Sales Tax Fund, Park Improvement Projects from Park / Storm Water Sales Tax
Fund, and Park Improvement Projects from Park/Storm Water Sales Tax Fund Phase 2 - which
have project length budgets - and the Cape Girardeau Municipal Development Foundation, and
the Cape Girardeau Parks Development Foundation, whose main purposes are to solicit and collect
donations.
The City follows these procedures in establishing the budgetary data reflected in the financial
statements.
1. The City Manager submits to the City Council a proposed operating budget for the
fiscal year ending the following June 30th at the first meeting of June each year. The
operating budget includes proposed expenditures and the means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
3. Prior to July 1, the budget is legally enacted through passage of an ordinance.
4. The City Manager is authorized to transfer budgeted amounts between programs within
any department; however, any revisions that alter the total appropriations of any
department must be approved by the City Council. Departments may not legally exceed
their appropriations without approval from the City Council. Appropriations expire at
the end of the year; however, outstanding encumbrances at the end of the year are
honored by the City.
5. Formal budgetary integration is employed as a management control device during the
year for all funds.
6. Budgets for all funds are adopted on a budgetary basis.
7. If, during the fiscal year, the City Manager certifies there are additional revenues to
appropriate, unencumbered appropriation balances within a department, or there is an
emergency situation, the City Council may amend the initial budget by ordinance. The
initial budget was adopted by the City Council on June 3, 2024 and amended on
September 16, 2024 and November 18, 2024. The initial budget and final amended
budget are both reflected in the financial statements.
70
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2025
BUDGETS AND BUDGETARY ACCOUNTING - Continued
The statement of revenues, expenditures, and changes in fund balances - governmental funds
reports revenues and expenditures on the modified accrual basis of accounting in accordance with
GAAP. The statement of revenues, expenditures, and changes in fund balances - budget and actual
(budget basis) for all governmental fund types is prepared on a budgetary basis which includes
encumbrances as expenditures.
The following reconciliation adjusts GAAP basis to budget basis:
General Fund Airport Fund
GAAP Basis Net Income 3,550,859$ (2,724,934)
Increase due to:
Prior Year-End Encumbrances:
Development Services 8,030 3,770
Public Safety 6,361 -
Public Works 21,460 -
Capital Outlay 40,478 3,079,292
Encumbrance Revenue (24,436) 251,213
Adjust investments due to Market (1,577) (470)
50,316$ 3,333,805$
Decrease due to:
Current Year-End Encumbrances
Development Services 6,149 20,259
Public Safety 23,057 -
Capital Outlay 19,000 3,181,432
Advance Repayment - 88,086
Encumbrance Revenue - (2,390,312)
Adjust investments due to Market 1,048 (171)
49,254$ 899,294
Budget Basis Net Income 3,551,921$ (290,423)$
Per Final Budget Basis TB 3,551,921 (290,423)
71
City of Cape Girardeau, Missouri
NOTES TO BUDGETARY COMPARISON SCHEDULES
June 30, 2025
BUDGETS AND BUDGETARY ACCOUNTING - Continued
The individual proprietary fund schedules of comparing budget to actual is reported on a budgetary
basis that uses the modified accrual basis of accounting with the exception of encumbrances.
Encumbrances are reported as expenses in the year of encumbrance.
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Fiscal Year Ended June 30,
Total Pension Liability
Service Costs 1,101,203$ 1,071,830$ 928,436$ 933,765$ 1,003,826$ 1,013,062$ 863,072$ 847,662$ 813,616$ 795,771$
Interest on the Pension Liability 3,851,410 3,696,708 3,298,026 3,188,809 3,328,657 3,125,720 2,770,920 2,668,902 2,567,279 2,346,499
Changes of Benefit Terms - - 2,779,169 - - - 3,061,598 - - -
Differences Between Expected and Actual Experience
of the Total Pension Liability 1,217,650 164,315 1,093,970 (313,157) (1,736,406) 517,894 (113,254) (568,794) (678,078) (183,850)
Changes of Assumptions - - - - (849,035) - - - - 1,388,735
Benefit Payments, Including Refunds of Employee Contributions (2,820,524) (2,656,777) (2,298,536) (2,196,315) (1,948,702) (1,760,611) (1,763,786) (1,340,034) (1,296,403) (1,324,473)
Net Change in Total Pension Liability 3,349,739 2,276,076 5,801,065 1,613,102 (201,660) 2,896,065 4,818,550 1,607,736 1,406,414 3,022,682
Total Pension Liability - Beginning 55,865,259 53,589,183 47,788,118 46,175,016 46,376,676 43,480,611 38,662,061 37,054,325 35,647,911 32,625,229
Total Pension Liability - Ending (A)59,214,998$ 55,865,259$ 53,589,183$ 47,788,118$ 46,175,016$ 46,376,676$ 43,480,611$ 38,662,061$ 37,054,325$ 35,647,911$
Plan Fiduciary Net Position
Contributions - Employer 938,444$ 886,180$ 3,271,227$ 929,906$ 888,369$ 864,919$ 3,608,999$ 847,162$ 745,001$ 820,228$
Contributions - Employees - - - - - - - - 16,008 -
Net Investment Income 3,713,691 3,044,562 2,153,345 43,036 13,278,050 637,692 3,002,641 4,823,411 4,214,232 (82,162)
Benefit Payments, Including Refunds of Employee Contributions (2,820,524) (2,656,777) (2,298,536) (2,196,315) (1,948,702) (1,760,611) (1,763,786) (1,340,034) (1,296,403) (1,324,473)
Pension Plan Administrative Expense (63,678) (64,078) (72,613) (51,934) (48,802) (64,681) (58,089) (40,041) (38,351) (37,018)
Other (Net Transfers)439,564 (1,964,592) (76,886) (740,238) (270,930) 32,102 (122,011) (225,107) (15,167) (298,285)
Net Change in Plan Fiduciary Net Position 2,207,497 (754,705) 2,976,537 (2,015,545) 11,897,985 (290,579) 4,667,754 4,065,391 3,625,320 (921,710)
Plan Fiduciary Net Position - Beginning 60,115,458 60,870,163 57,893,626 59,909,171 48,011,186 48,301,765 43,634,011 39,568,620 35,943,300 36,865,010
Plan Fiduciary Net Position - Ending (B)62,322,955$ 60,115,458$ 60,870,163$ 57,893,626$ 59,909,171$ 48,011,186$ 48,301,765$ 43,634,011$ 39,568,620$ 35,943,300$
Net Pension Liability - Ending (A) - (B)(3,107,957) (4,250,199) (7,280,980) (10,105,508) (13,734,155) (1,634,510) (4,821,154) (4,971,950) (2,514,295) (295,389)
Plan Fiduciary Net Position as a Percentage
of the Total Pension Liability 105.25%107.61%113.59%121.15%129.74%103.52%111.09%112.86%106.79%100.83%
Covered Valuation Payroll 10,122,825$ 9,463,554$ 9,430,171$ 8,977,444$ 9,337,017$ 10,105,920$ 9,908,724$ 9,841,879$ 9,707,798$ 9,109,297$
Net Pension Liability as a Percentage
of Covered Valuation Payroll -30.70%-44.91%-77.21%-112.57%-147.09%-16.17%-48.66%-50.52%-25.90%-3.24%
Notes to the Schedule:
This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year
trend is compiled, information is presented for those years for which information is available.
CITY OF CAPE GIRARDEAU, MISSOURI
SUPPLEMENTARY INFORMATION
MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS
GENERAL DIVISION
June 30, 2025
72
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Fiscal Year Ended June 30,
Total Pension Liability
Service Costs 499,594$ 484,445$ 382,120$ 404,842$ 439,563$ 418,343$ 370,763$ 367,842$ 345,371$ 309,133$
Interest on the Pension Liability 2,083,511 1,945,492 1,670,148 1,594,959 1,683,903 1,593,730 1,425,037 1,377,421 1,327,202 1,248,307
Changes of Benefit Terms - - 1,197,832 - - - 839,984 - - -
Differences Between Expected and Actual Experience
of the Total Pension Liability 553,145 891,737 1,878,133 294,313 (1,126,893) 343,900 767,339 (5,046) 21,040 (83,909)
Changes of Assumptions - - - - (262,033) - - - - 481,968
Benefit Payments, Including Refunds of Employee Contributions (1,463,669) (1,254,725) (1,235,673) (1,182,846) (1,134,760) (1,110,912) (1,088,863) (1,081,050) (945,268) (827,008)
Net Change in Total Pension Liability 1,672,581 2,066,949 3,892,560 1,111,268 (400,220) 1,245,061 2,314,260 659,167 748,345 1,128,491
Total Pension Liability - Beginning 30,238,322 28,171,373 24,278,813 23,167,545 23,567,765 22,322,704 20,008,444 19,349,277 18,600,932 17,472,441
Total Pension Liability - Ending (A)31,910,903$ 30,238,322$ 28,171,373$ 24,278,813$ 23,167,545$ 23,567,765$ 22,322,704$ 20,008,444$ 19,349,277$ 18,600,932$
Plan Fiduciary Net Position
Contributions - Employer 517,754$ 457,520$ 1,321,768$ 471,871$ 481,997$ 449,883$ 1,359,472$ 392,375$ 366,721$ 337,743$
Contributions - Employees - - - - - - - - - -
Net Investment Income 1,867,590 1,509,351 997,027 21,758 6,219,863 300,296 1,519,462 2,382,243 2,267,369 (46,280)
Benefit Payments, Including Refunds of Employee Contributions (1,463,669) (1,254,725) (1,235,673) (1,182,846) (1,134,760) (1,110,912) (1,088,863) (1,081,050) (945,268) (827,008)
Pension Plan Administrative Expense (19,878) (21,136) (24,050) (16,241) (16,334) (22,319) (19,439) (13,830) (13,148) (12,366)
Other (Net Transfers)133,348 36,712 55,480 27,847 (12,112) 84,957 91,515 (42,272) 156,567 50,565
Net Change in Plan Fiduciary Net Position 1,035,145 727,722 1,114,552 (677,611) 5,538,654 (298,095) 1,862,147 1,637,466 1,832,241 (497,346)
Plan Fiduciary Net Position - Beginning 30,213,459 29,485,737 28,371,185 29,048,796 23,510,142 23,808,237 21,946,090 20,308,624 18,476,383 18,973,729
Plan Fiduciary Net Position - Ending (B)31,248,604$ 30,213,459$ 29,485,737$ 28,371,185$ 29,048,796$ 23,510,142$ 23,808,237$ 21,946,090$ 20,308,624$ 18,476,383$
Net Pension Liability - Ending (A) - (B)662,299 24,863 (1,314,364) (4,092,372) (5,881,251) 57,623 (1,485,533) (1,937,646) (959,347) 124,549
Plan Fiduciary Net Position as a Percentage
of the Total Pension Liability 97.92%99.92%104.67%116.86%125.39%99.76%106.65%109.68%104.96%99.33%
Covered Valuation Payroll 4,317,167$ 4,217,873$ 3,976,695$ 3,237,682$ 3,836,832$ 4,179,275$ 3,776,550$ 3,943,991$ 3,818,933$ 3,536,454$
Net Pension Liability as a Percentage
of Covered Valuation Payroll 15.34%0.59%-33.05%-126.40%-153.28%1.38%-39.34%-49.13%-25.12%3.52%
Notes to the Schedule:
This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year
trend is compiled, information is presented for those years for which information is available.
CITY OF CAPE GIRARDEAU, MISSOURI
SUPPLEMENTARY INFORMATION
MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS
POLICE DIVISION
June 30, 2025
73
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Fiscal Year Ended June 30,
Total Pension Liability
Service Costs 643,183$ 626,389$ 512,816$ 485,904$ 481,270$ 451,444$ 397,573$ 401,292$ 388,806$ 375,784$
Interest on the Pension Liability 2,080,004 1,944,115 1,763,429 1,685,982 1,741,225 1,662,942 1,505,476 1,472,645 1,452,993 1,336,826
Changes of Benefit Terms - - 815,997.00 - - - 951,134 - - -
Differences Between Expected and Actual Experience
of the Total Pension Liability 961,492 1,272,292 1,150,659 610,970 (58,849) 466,159 765,218 (152,061) (515,001) 461,181
Changes of Assumptions - - - - (449,014) - - - - 508,788
Benefit Payments, Including Refunds of Employee Contributions (1,977,731) (1,844,082) (1,595,151) (1,781,092) (1,519,412) (1,511,600) (1,437,533) (1,102,750) (1,022,379) (1,148,773)
Net Change in Total Pension Liability 1,706,948 1,998,714 2,647,750 1,001,764 195,220 1,068,945 2,181,868 619,126 304,419 1,533,806
Total Pension Liability - Beginning 30,370,328 28,371,614 25,723,864 24,722,100 24,526,880 23,457,935 21,276,067 20,656,941 20,352,522 18,818,716
Total Pension Liability - Ending (A)32,077,276$ 30,370,328$ 28,371,614$ 25,723,864$ 24,722,100$ 24,526,880$ 23,457,935$ 21,276,067$ 20,656,941$ 20,352,522$
Plan Fiduciary Net Position
Contributions - Employer 750,111$ 799,103$ 1,307,758$ 475,309$ 441,121$ 369,502$ 1,334,300$ 370,929$ 326,044$ 375,209$
Contributions - Employees - - - - - - - - - -
Net Investment Income 1,927,189 1,586,320 1,032,172 30,087 6,873,082 335,978 1,640,175 2,629,862 2,374,115 (40,593)
Benefit Payments, Including Refunds of Employee Contributions (1,977,731) (1,844,082) (1,595,151) (1,781,092) (1,519,412) (1,511,600) (1,437,533) (1,102,750) (1,022,379) (1,148,773)
Pension Plan Administrative Expense (18,370) (18,594) (21,462) (15,025) (13,864) (17,476) (14,968) (10,585) (10,113) (9,925)
Other (Net Transfers)238,087 509,607 (294,573) 625,944 47,327 144,451 (101,158) (28,894) 100,165 18,256
Net Change in Plan Fiduciary Net Position 919,286 1,032,354 428,744 (664,777) 5,828,254 (679,145) 1,420,816 1,858,562 1,767,832 (805,826)
Plan Fiduciary Net Position - Beginning 31,603,987 30,571,633 30,142,889 30,807,666 24,979,412 25,658,557 24,237,741 22,379,179 20,611,347 21,417,173
Plan Fiduciary Net Position - Ending (B)32,523,273$ 31,603,987$ 30,571,633$ 30,142,889$ 30,807,666$ 24,979,412$ 25,658,557$ 24,237,741$ 22,379,179$ 20,611,347$
Net Pension Liability - Ending (A) - (B)(445,997) (1,233,659) (2,200,019) (4,419,025) (6,085,566) (452,532) (2,200,622) (2,961,674) (1,722,238) (258,825)
Plan Fiduciary Net Position as a Percentage
of the Total Pension Liability 101.39%104.06%107.75%117.18%124.62%101.85%109.38%113.92%108.34%101.27%
Covered Valuation Payroll 4,088,201$ 4,125,543$ 3,943,799$ 3,467,953$ 3,432,689$ 3,442,123$ 3,211,902$ 3,290,770$ 3,283,135$ 3,099,147$
Net Pension Liability as a Percentage
of Covered Valuation Payroll -10.91%-29.90%-55.78%-127.42%-177.28%-13.15%-68.51%-90.00%-52.46%-8.35%
Notes to the Schedule:
This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year
trend is compiled, information is presented for those years for which information is available.
CITY OF CAPE GIRARDEAU, MISSOURI
SUPPLEMENTARY INFORMATION
MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS
FIRE DIVISION
June 30, 2025
74
2025 2024
Fiscal Year Ended June 30,
Total Pension Liability
Service Costs 97,215$ 29,453$
Interest on the Pension Liability 115,419 758
Changes of Benefit Terms - 1,609,728
Differences Between Expected and Actual Experience
of the Total Pension Liability 181,348 (30,211)
Changes of Assumptions - -
Benefit Payments, Including Refunds of Employee Contributions (2,503) (7,435)
Net Change in Total Pension Liability 391,479 1,602,293
Total Pension Liability - Beginning 1,602,293 -
Total Pension Liability - Ending (A)1,993,772$ 1,602,293$
Plan Fiduciary Net Position
Contributions - Employer 92,836$ 82,414$
Contributions - Employees - -
Net Investment Income 100,976 79,191
Benefit Payments, Including Refunds of Employee Contributions (2,503) (7,435)
Pension Plan Administrative Expense (2,268) (2,007)
Other (Net Transfers)(1,783) 1,442,430
Net Change in Plan Fiduciary Net Position 187,258 1,594,593
Plan Fiduciary Net Position - Beginning 1,594,593 -
Plan Fiduciary Net Position - Ending (B)1,781,851$ 1,594,593$
Net Pension Liability - Ending (A) - (B)211,921 7,700
Plan Fiduciary Net Position as a Percentage
of the Total Pension Liability 89.37%99.52%
Covered Valuation Payroll 933,391$ 691,610$
Net Pension Liability as a Percentage
of Covered Valuation Payroll 22.70%1.11%
Notes to the Schedule:
This schedule is presented to illustrate the requirement to show information for 10 years. However, until
a full 10-year trend is compiled, information is presented for those years for which information is available.
CITY OF CAPE GIRARDEAU, MISSOURI
SUPPLEMENTARY INFORMATION
MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS
PUBLIC SAFETY DIVISION
June 30, 2025
75
June 30, 2025
Fiscal Actual Contribution
Year Actuarial Contribution Covered as a Percentage
Ended Determined Actual Deficiency Valuation of Covered
June 30,Contribution Contribution (Excess)Payroll Valuation Payroll
2025 2,416,385$ 2,300,277$ 116,108$ 19,375,303$ 11.87%
2024 2,227,159 2,227,159 - 18,777,125 11.86%
2023 2,231,644 2,213,684 17,960 18,544,042 11.94%
2022 1,945,508 1,874,208 71,300 16,374,625 11.45%
2021 1,873,332 1,812,073 61,259 17,166,508 10.56%
2020 1,683,841 1,683,841 - 17,188,695 9.80%
2019 1,728,666 1,728,666 - 17,300,564 9.99%
2018 1,644,496 1,610,466 34,030 16,990,644 9.48%
2017 1,437,766 1,437,766 - 16,749,343 8.58%
2016 1,533,180 1,533,180 - 16,040,522 9.56%
Notes to Schedule:
Valuation Date:February 28, 2025
Notes The roll-forward of total pension liability from February 28, 2025 to
June 30, 2025 reflects expected service cost and interest reduced by
actual benefit payments.
Methods and Assumptions Used to Determine Contribution Rates:
Actuarial Cost Method:Entry Age Normal and Modified Terminal Funding
Amortization Method:A level percentage of payroll amortization method is used to
amortize the UAAL over a closed period of years. If the UAAL
(excluding the UAAL associated with benefit changes) is negative,
then this amount is amortized of the greater of (i) the remaining
initial amortization period or (ii) 15 years.
Remaining Amortization Period:Multiple bases from 10 to 17 years
Asset Valuation Method:5-year smoothed market, 20% corridor
Inflation:2.75% wage inflation, 2.25% price inflation
Salary Increases:2.75% to 7.15%, including wage inflation
Investment Rate of Return:7.00%, net of investment expenses
Retirement Age:Experience-based table of rates that are specific to the type of
eligibility condition.
Mortality:The healthy retiree mortality tables, for post-retirement mortality,
used in evaluating allowances to be paid were 115% of the PubG-
2010 Retiree Mortality Table for males and females. The disabled
retiree mortality tables, for post-retirement mortality, used in
evaluating allowances to be paid were 115% of the PubNS-2010
Disabled Retiree Mortality Table for males and females. The pre-
retirement mortality tables used were 75% of the PubG-2010
Employee Mortality Table for males and females of General groups
and 75% of the PubS-2010 Employee Mortality Table for males and
females of Police, Fire and Public Safety groups.
Mortality rates for a particular calendar year are determined by
applying the MP-2020 mortality improvement scale to the above
described tables.
Other Information:None
CITY OF CAPE GIRARDEAU, MISSOURI
SUPPLEMENTARY INFORMATION
MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM
SCHEDULE OF EMPLOYER CONTRIBUTIONS
76
2025 2024 2023 2022 2021 2020 2019 2018
Calendar Year Ended June 30,
Total OPEB Liability
Service Costs 157,085$ 167,959$ 152,219$ 309,892$ 254,489$ 258,793$ 251,092$ 303,952$
Interest on Total OPEB Liability 403,414 362,673 341,966 248,554 295,897 365,681 428,525 407,566
Effect of Economic/Demographic Gains or Losses (702,018) 535,052 678,313 (1,629,235) (34,266) (231,761) (961,604) (519,247)
Effect of Assumptions Changes or Inputs 91,331 539,511 (24,972) (1,029,435) 382,609 1,023,004 271,656 158,158
Benefit Payments (825,110) (762,632) (723,529) (740,913) (715,552) (694,578) (609,858) (608,774)
Net Change in Total OPEB Liability (875,298) 842,563 423,997 (2,841,137) 183,177 721,139 (620,189) (258,345)
Total OPEB Liability - Beginning 9,833,499 8,990,936 8,566,939 11,408,076 11,224,899 10,503,760 11,123,949 11,382,294
Total OPEB Liability - Ending 8,958,201$ 9,833,499$ 8,990,936$ 8,566,939$ 11,408,076$ 11,224,899$ 10,503,760$ 11,123,949$
Covered Employee Payroll 6,466,811 7,114,045 6,880,663 6,723,215 7,465,766 7,230,766 9,369,121 9,074,209
Total OPEB Liability as a Percentage
of Covered Employee Payroll 138.53%138.23%130.67%127.42%152.81%155.24%112.11%122.59%
Notes to the Schedule:
This schedule is presented to illustrate the requirement to show information for 10 years. However, recalculations of
prior years are not required, and if prior years are not reported in accordance with the current GASB standards,
they should not be reported.
CITY OF CAPE GIRARDEAU, MISSOURI
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN THE CITY'S TOTAL OPEB LIABILITY AND RELATED RATIOS
June 30, 2025
77
SUPPLEMENTAL INFORMATION
General Park Riverfront
Capital Parks and Convention Downtown A.C. Brase Development Casino Region Economic Motor
Improvements Recreation Health and Tourism Business Foundation Foundation Public Safety Revenue Development Fuel Tax
Fund Fund Fund Fund District Fund Fund Fund Trust Fund II Fund Fund Fund
CURRENT ASSETS:
Pooled Cash and Investments 278,577$ 611,173$ 431,248$ 6,919,138$ 216,340$ 112,552$ 897,764$ 1,202,311$ 5,652,540$ 1,250,667$ 2,415,235$
Receivables:
Real Estate Taxes, Net - - 66,988 - 295 - - - - - -
Property Taxes, Net - - 8,666 - - - - - - - -
Sales Tax - - - - - - - - - - -
Hotel and Motel Tax - - - 121,812 - - - - - - -
Restaurant Tax - - - 213,438 - - - - - - -
Special Assessments - - - - - - - - - - 9,251
Other - 245,828 - - - - - - 201,179 36,186 -
Motor Fuel Tax - - - - - - - - - - 144,887
Vehicle License Fees - - - - - - - - - - 37,627
Motor Vehicle Sales Tax - - - - - - - - - - 13,925
Grants - - - 23,600 - - - - - - -
Inventory - 33,578 - 11,536 - - - - - - -
Prepaid Items - 29,809 49,023 8,657 - - 404 - 1,665 1,500 -
TOTAL CURRENT ASSETS 278,577$ 920,388$ 555,925$ 7,298,181$ 216,635$ 112,552$ 898,168$ 1,202,311$ 5,855,384$ 1,288,353$ 2,620,925$
NONCURRENT ASSETS:
Advances to Other Funds -$ -$ -$ -$ -$ -$ -$ -$ 1,606,675$ -$ -$
TOTAL NONCURRENT ASSETS -$ -$ -$ -$ -$ -$ -$ -$ 1,606,675$ -$ -$
TOTAL ASSETS 278,577$ 920,388$ 555,925$ 7,298,181$ 216,635$ 112,552$ 898,168$ 1,202,311$ 7,462,059$ 1,288,353$ 2,620,925$
CURRENT LIABILITIES:
Accounts Payable -$ 180,412$ 8,667$ 40,486$ -$ -$ 1,566$ 24,931$ 49,925$ 3,196$ 122,592$
Salaries and Benefits Payable - 126,336 4,792 5,614 - - - - - - -
Other Liabilities - 1,582 - - - - - - - - -
Unearned Revenues - 137,682 - - - - - - - - -
Deferred Revenues - - 73,221 - - - - - - - 9,251
TOTAL CURRENT LIABILITIES -$ 446,012$ 86,680$ 46,100$ -$ -$ 1,566$ 24,931$ 49,925$ 3,196$ 131,843$
NONCURRENT LIAIBILITIES:
Advances from Other Funds -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
TOTAL NONCURRENT LIABILITIES -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
TOTAL LIABILITIES -$ 446,012$ 86,680$ 46,100$ -$ -$ 1,566$ 24,931$ 49,925$ 3,196$ 131,843$
FUND BALANCE:
Nonspendable -$ 29,809$ 49,023$ 8,657$ -$ -$ 404$ -$ 1,608,340$ 1,500$ -$
Restricted 278,577 511,195 420,222 7,243,424 216,635 - - 255,938 134,335 20,900 2,489,082
Committed - - - - - - - - 5,669,459 - -
Assigned - - - - - 112,552 896,198 921,442 - 1,262,757 -
Unassigned - (66,628) - - - - - - - - -
TOTAL FUND BALANCE 278,577$ 474,376$ 469,245$ 7,252,081$ 216,635$ 112,552$ 896,602$ 1,177,380$ 7,412,134$ 1,285,157$ 2,489,082$
TOTAL LIABILITIES AND FUND
BALANCE 278,577$ 920,388$ 555,925$ 7,298,181$ 216,635$ 112,552$ 898,168$ 1,202,311$ 7,462,059$ 1,288,353$ 2,620,925$
ASSETS
LIABILITIES AND FUND BALANCE
78
See Independent Auditors' Report
June 30, 2025
CITY OF CAPE GIRARDEAU MISSOURI
COMBINING BALANCE SHEET -
NONMAJOR GOVERNMENTAL FUNDS
Capital Capital
Improvement Improvement Park/Stormwater Park
Sales Tax -Sales Tax -Stormwater Parks/System System Total
Transportation Transportation Sewer System General Sales Tax - Stormwater Improvements Improvements Nonmajor
Sales Tax Sales Tax Improvements Improvements Capital Fire Sales Sales Tax Phase II Phase II Governmental
Trust Fund V Trust Fund VI Fund Fund Fund Tax Fund Fund Fund Fund Funds
CURRENT ASSETS:
Pooled Cash and Investments 8,886,525$ 15,934,933$ 5,699,612$ 5,083,399$ 3,778,636$ -$ 71,897$ 631,129$ 1,640,512$ 61,714,188$
Receivables:
Real Estate Taxes, Net - - - - - - - - - 67,283
Property Taxes, Net - - - - - - - - - 8,666
Sales Tax - 583,476 300,342 300,342 450,513 291,738 150,111 - - 2,076,522
Hotel and Motel Tax - - - - - - - - - 121,812
Restaurant Tax - - - - - - - - - 213,438
Special Assessments - - - - - - - - - 9,251
Other - - - - - - - - - 483,193
Motor Fuel Tax - - - - - - - - 109,721 254,608
Vehicle License Fees - - - - - - - - - 37,627
Motor Vehicle Sales Tax - - - - - - - - - 13,925
Grants 237,363 36,801 - - - - - 431,417 - 729,181
Inventory - - - - - - - - - 45,114
Prepaid Items - - - - - - - - - 91,058
TOTAL CURRENT ASSETS 9,123,888$ 16,555,210$ 5,999,954$ 5,383,741$ 4,229,149$ 291,738$ 222,008$ 1,062,546$ 1,750,233$ 65,865,866$
NONCURRENT ASSETS:
Advances to Other Funds -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,606,675$
TOTAL NONCURRENT ASSETS -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,606,675$
TOTAL ASSETS 9,123,888$ 16,555,210$ 5,999,954$ 5,383,741$ 4,229,149$ 291,738$ 222,008$ 1,062,546$ 1,750,233$ 67,472,541$
CURRENT LIABILITIES:
Accounts Payable 86,280$ 314,698$ 46,723$ 259,990$ -$ -$ -$ 676,018$ 610,452$ 2,425,936$
Salaries and Benefits Payable - - - - - - - - - 136,742
Other Liabilities - - - - - - - - - 1,582
Unearned Revenues - - - - - - - - - 137,682
Deferred Revenues - - - - - - - - 109,721 192,193
TOTAL CURRENT LIABILITIES 86,280$ 314,698$ 46,723$ 259,990$ -$ -$ -$ 676,018$ 720,173$ 2,894,135$
NONCURRENT LIAIBILITIES:
Advances from Other Funds -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
TOTAL NONCURRENT LIABILITIES -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
TOTAL LIABILITIES 86,280$ 314,698$ 46,723$ 259,990$ -$ -$ -$ 676,018$ 720,173$ 2,894,135$
FUND BALANCE:
Nonspendable -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,697,733$
Restricted 9,037,608 16,240,512 5,953,231 5,123,751 4,229,149 291,738 222,008 386,528 1,030,060 54,084,893
Committed - - - - - - - - - 5,669,459
Assigned - - - - - - - - - 3,192,949
Unassigned - - - - - - - - - (66,628)
TOTAL FUND BALANCE 9,037,608 16,240,512$ 5,953,231$ 5,123,751$ 4,229,149$ 291,738$ 222,008$ 386,528$ 1,030,060$ 64,578,406$
TOTAL LIABILITIES AND FUND
BALANCE 9,123,888$ 16,555,210$ 5,999,954$ 5,383,741$ 4,229,149$ 291,738$ 222,008$ 1,062,546$ 1,750,233$ 67,472,541$
LIABILITIES AND FUND BALANCE
ASSETS
See Independent Auditors' Report.
79
CITY OF CAPE GIRARDEAU MISSOURI
COMBINING BALANCE SHEET -
NONMAJOR GOVERNMENTAL FUNDS
June 30, 2025
General Park Riverfront
Capital Parks and Convention Downtown A.C. Brase Development Casino Region Economic Motor
Improvements Recreation Health and Tourism Business Foundation Foundation Public Safety Revenue Development Fuel Tax
Fund Fund Fund Fund District Fund Fund Fund Trust Fund II Fund Fund Fund
REVENUES:
Taxes -$ -$ 472,641$ 3,338,551$ 26,841$ -$ -$ -$ 2,580,002$ 235,189$ -$
Intergovernmental - 978 12,613 66,715 - - - 45,502 - - 2,243,644
Charges for Services - 1,716,843 - 30,532 - 27,573 92,686 - - - -
Special Assessment - - - - - - - - - - 4,449
Miscellaneous - 21,509 - 65,671 75 - 94,102 5,696 - - -
Investment Revenue 39,395 38,757 21,357 300,148 9,252 4,692 38,508 74,816 254,833 49,226 94,946
TOTAL REVENUES 39,395$ 1,778,087$ 506,611$ 3,801,617$ 36,168$ 32,265$ 225,296$ 126,014$ 2,834,835$ 284,415$ 2,343,039$
EXPENDITURES:
Current:
Administrative Services -$ -$ -$ 166$ -$ -$ -$ -$ 110,954$ -$ -$
Development Services - - - 994,380 1,749 - - - 600,555 139,330 -
Parks and Recreation - 3,609,239 - - - 3,170 78,410 - 19,429 - -
Public Safety - - 492,379 - - - - 73,018 98,168 - -
Public Works - - - - - - - - - - 190,449
Capital Outlay:
Public Safety - - - - - - - 234,016 280,948 - -
Administrative - - - - - - - - 40,085 - -
Development Services - - - 187,921 - - - - - - -
Parks and Recreation - 41,529 - - - - - - 26,624 - -
Public Works 1,199,529 - - - - - - - - - -
Debt Service:
Interest - - - 194,167 - - - 217,013 - - -
Principal - - - 742,136 - - - 1,080,832 - - -
TOTAL EXPENDITURES 1,199,529$ 3,650,768$ 492,379$ 2,118,770$ 1,749$ 3,170$ 78,410$ 1,604,879$ 1,176,763$ 139,330$ 190,449$
REVENUES OVER (UNDER)
EXPENDITURES (1,160,134)$ (1,872,681)$ 14,232$ 1,682,847$ 34,419$ 29,095$ 146,886$ (1,478,865)$ 1,658,072$ 145,085$ 2,152,590$
OTHER FINANCING SOURCES (USES):
Asset Disposition -$ 165$ -$ -$ -$ -$ -$ 11,900$ -$ -$ -$
Capital Contributions - - - - - - - - - - -
Transfers In - 1,526,893 - - - - - 3,284,561 2,624 193,122 -
Transfers Out - (28,943) - - - - (21,000) (1,633,280) (593,122) - (1,543,393)
TOTAL OTHER FINANCING SOURCES
(USES)-$ 1,498,115$ -$ -$ -$ -$ (21,000)$ 1,663,181$ (590,498)$ 193,122$ (1,543,393)$
TOTAL REVENUES OVER (UNDER)
EXPENDITURES (1,160,134)$ (374,566)$ 14,232$ 1,682,847$ 34,419$ 29,095$ 125,886$ 184,316$ 1,067,574$ 338,207$ 609,197$
FUND BALANCE, July 1, 2024 1,438,711 848,942 455,013 5,569,234 182,216 83,457 770,716 993,064 6,344,560 946,950 1,879,885
FUND BALANCE, June 30, 2025 278,577$ 474,376$ 469,245$ 7,252,081$ 216,635$ 112,552$ 896,602$ 1,177,380$ 7,412,134$ 1,285,157$ 2,489,082$
CITY OF CAPE GIRARDEAU, MISSOURI
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS
Year Ended June 30, 2025
See Independent Auditors' Report.
80
Capital Capital
Improvement Improvement Park/Stormwater Park
Sales Tax -Sales Tax -Stormwater Parks/System System Total
Transportation Transportation Sewer System General Sales Tax - Stormwater Improvements Improvements Nonmajor
Sales Tax Sales Tax Improvements Improvements Capital Fire Sales Sales Tax Phase II Phase II Governmental
Trust Fund V Trust Fund VI Fund Fund Fund Tax Fund Fund Fund Fund Funds
REVENUES:
Taxes -$ 6,596,071$ 3,389,743$ 3,389,743$ 5,084,617$ 3,298,034$ 1,694,872$ -$ -$ 30,106,304$
Intergovernmental 223,991 81,767 - - - - - 443,271 28,218 3,146,699
Charges for Services - - - - - - - - - 1,867,634
Special Assessment - - - - - - - - - 4,449
Miscellaneous - - - - - - - - - 187,053
Investment Revenue 430,983 687,376 329,691 340,975 140,682 - 3,308 35,050 47,558 2,941,553
TOTAL REVENUES 654,974$ 7,365,214$ 3,719,434$ 3,730,718$ 5,225,299$ 3,298,034$ 1,698,180$ 478,321$ 75,776$ 38,253,692$
EXPENDITURES:
Current:
Administrative Services -$ -$ -$ -$ -$ -$ -$ -$ -$ 111,120$
Development Services - 48,553 81,385 81,416 - - - - - 1,947,368
Parks and Recreation - - - - - - - - - 3,710,248
Public Safety - - - - - - - - - 663,565
Public Works - - - - - - - - - 190,449
Capital Outlay:
Public Safety - - - - - - - - - 514,964
Administrative - - - - - - - - - 40,085
Development Services - - 98,861 - - - - - - 286,782
Capital Improvements - - - - - - - - - -
Parks and Recreation - - - - 354,211 - - - 700,231 1,122,595
Public Works 1,089,043 4,191,122 - 2,446,597 - - - 1,222,830 - 10,149,121
Debt Service:
Interest - - - 355,210 297,928 - - - - 1,064,318
Principal - - - 1,190,000 - - - - - 3,012,968
TOTAL EXPENDITURES 1,089,043$ 4,239,675$ 180,246$ 4,073,223$ 652,139$ -$ -$ 1,222,830$ 700,231$ 22,813,583$
REVENUES OVER (UNDER)
EXPENDITURES (434,069)$ 3,125,539$ 3,539,188$ (342,505)$ 4,573,160$ 3,298,034$ 1,698,180$ (744,509)$ (624,455)$ 15,440,109$
OTHER FINANCING SOURCES (USES):
Asset Disposition -$ -$ -$ -$ 14,200$ -$ -$ -$ -$ 26,265$
Capital Contributions - - - - - - - - 316,146 316,146
Transfers In - - - 400,000 208 - - 151,501 1,641,259 7,200,168
Transfers Out - - (3,068,126) (1,437,840) (3,472,390) (3,284,561) (1,688,629) - - (16,771,284)
TOTAL OTHER FINANCING SOURCES
(USES)-$ -$ (3,068,126)$ (1,037,840)$ (3,457,982)$ (3,284,561)$ (1,688,629)$ 151,501$ 1,957,405$ (9,228,705)$
TOTAL REVENUES OVER (UNDER)
EXPENDITURES (434,069)$ 3,125,539$ 471,062$ (1,380,345)$ 1,115,178$ 13,473$ 9,551$ (593,008)$ 1,332,950$ 6,211,404$
FUND BALANCE, July 1, 2024 9,471,677 13,114,973 5,482,169 6,504,096 3,113,971 278,265 212,457 979,536 (302,890) 58,367,002
FUND BALANCE, June 30, 2025 9,037,608$ 16,240,512$ 5,953,231$ 5,123,751$ 4,229,149$ 291,738$ 222,008$ 386,528$ 1,030,060$ 64,578,406$
CITY OF CAPE GIRARDEAU, MISSOURI
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS
Year Ended June 30, 2025
See Independent Auditors' Report.
81
ANNUAL FEDERAL FINANCIAL COMPLIANCE SECTION
82
INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE FOR EACH
MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
Report on Compliance for Each Major Federal Program
Opinion on Each Major Federal Program
We have audited the City of Cape Girardeau, Missouri’s compliance with the types of compliance
requirements identified as subject to audit in the OMB Compliance Supplement that could have a
direct and material effect on the City of Cape Girardeau, Missouri’s major federal program for the
year ended June 30, 2025. The City of Cape Girardeau, Missouri’s major federal program is
identified in the summary of auditors’ results section of the accompanying Schedule of Findings
and Questioned Costs.
In our opinion, the City of Cape Girardeau, Missouri complied, in all material respects, with the
types of compliance requirements referred to above that could have a direct and material effect on
its major federal program for the year ended June 30, 2025.
Basis for Opinion on Each Major Federal Program
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United States of America; the standards applicable to financial audits contained in
Government Auditing Standards issued by the Comptroller General of the United States; and the
audit requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are
further described in the Auditors’ Responsibilities for the Audit of Compliance section of our
report.
We are required to be independent of the City of Cape Girardeau, Missouri and to meet our other
ethical responsibilities in accordance with relevant ethical requirements relating to our audit. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion on compliance for the major federal program. Our audit does not provide a legal
determination of the City of Cape Girardeau, Missouri’s compliance with the compliance
requirements referred to above.
83
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the
design, implementation, and maintenance of effective internal control over compliance with the
requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements
applicable to each of the City of Cape Girardeau, Missouri’s federal programs.
Auditors’ Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the
compliance requirements referred to above occurred, whether due to fraud or error, and express an
opinion on the City of Cape Girardeau, Missouri’s compliance based on our audit. Reasonable
assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee
that an audit conducted in accordance with generally accepted auditing standards, Government
Auditing Standards, and the Uniform Guidance will always detect material noncompliance when
it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for
that resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Non-compliance with the compliance
requirements referred to above is considered material, if there is a substantial likelihood that,
individually or in the aggregate, it would influence the judgment made by a reasonable user of the
report on compliance about the City of Cape Girardeau, Missouri’s compliance with the
requirements of the major federal program as a whole.
In performing an audit in accordance with generally accepted auditing standards, Government
Auditing Standards, and the Uniform Guidance, we
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material noncompliance, whether due to fraud or error, and
design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the City of Cape Girardeau, Missouri’s
compliance with the compliance requirements referred to above and performing such other
procedures as we considered necessary in the circumstances.
• Obtain an understanding of the City of Cape Girardeau, Missouri’s internal control over
compliance relevant to the audit in order to design audit procedures that are appropriate in
the circumstances and to test and report on internal control over compliance in accordance
with the Uniform Guidance, but not for the purpose of expressing an opinion on the
effectiveness of the City of Cape Girardeau, Missouri’s internal control over compliance.
Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit and any significant deficiencies and material
weaknesses in internal control over compliance that we identified during the audit.
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Report on Internal Control Over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control
over compliance does not allow management or employees, in the normal course of performing
their assigned functions, to prevent, or detect and correct, noncompliance with a type of
compliance requirement of a federal program on a timely basis. A material weakness in internal
control over compliance is a deficiency, or a combination of deficiencies, in internal control over
compliance, such that there is a reasonable possibility that material noncompliance with a type of
compliance requirement of a federal program will not be prevented, or detected and corrected, on
a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a
combination of deficiencies, in internal control over compliance with a type of compliance
requirement of a federal program that is less severe than a material weakness in internal control
over compliance, yet important enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the
Auditors’ Responsibilities for the Audit of Compliance section above and was not designed to
identify all deficiencies in internal control over compliance that might be material weaknesses or
significant deficiencies in internal control over compliance. Given these limitations, during our
audit, we did not identify any deficiencies in internal control over compliance that we consider to
be a material weakness, as defined above. However, material weaknesses or significant
deficiencies in internal control over compliance may exist that were not identified.
Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal
control over compliance. Accordingly, no such opinion is expressed.
The purpose of this report on internal control over compliance is solely to describe the scope of
our testing of internal control over compliance and the results of that testing based on the
requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other
purpose.
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Cape Girardeau, Missouri
January 29, 2026
85
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER
MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Mayor and Members of the City Council
City of Cape Girardeau, Missouri
We have audited, in accordance with the auditing standards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States, the financial statements of the
governmental activities, the business-type activities, each major fund, and the aggregate remaining
fund information of the City of Cape Girardeau, Missouri as of and for the year ended June 30,
2025, and the related notes to the financial statements, which collectively comprise the City of
Cape Girardeau, Missouri’s basic financial statements, and have issued our report t hereon dated
January 29, 2026.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City of Cape
Girardeau, Missouri’s internal control over financial reporting (internal control) as a basis for
designing audit procedures that are appropriate in the circumstances for the purpose of expressing
our opinions on the financial statements, but not for the purpose of expressing an opinion on the
effectiveness of the City of Cape Girardeau, Missouri’s internal control. Accordingly, we do not
express an opinion on the effectiveness of the City of Cape Girardeau, Missouri’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a
material misstatement of the City’s financial statements will not be prevented, or detected and
corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of
deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control that might be
material weaknesses or significant deficiencies. Given these limitations, during our audit we did
not identify any deficiencies in internal control that we consider to be material weaknesses.
However, material weaknesses or significant deficiencies may exist that were not identified.
86
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City of Cape Girardeau, Missouri’s
financial statements are free from material misstatement, we performed tests of its compliance
with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with
which could have a direct and material effect on the financial statements. However, providing an
opinion on compliance with those provisions was not an objective of our audit, and accordingly,
we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance or other matters that are required to be reported under Government Auditing
Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City’s internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
BEUSSINK, HEY, ROE & STRODER, L.L.C.
Cape Girardeau, Missouri
January 29, 2026
Federal Passed
Assistance Listing Program Through to
Federal Grantor/Pass-Through Grantor Program Title Number Number Subrecipients
U.S. DEPARTMENT OF DEFENSE:
Loan of DOD Property (non-cash)12.UNKNOWN N/A -$ 100,000$
TOTAL U.S. DEPARTMENT OF DEFENSE 100,000$
U.S. DEPARTMENT OF JUSTICE:
Bulletproof Vest Partnership Program 16.607 BUBX15079622 -$ 18,614$
Public Safety Partnership and Community
Policing Grants 16.710 15JCOPS-22-GG-03500-UHPX - 3,859
Edward Byrne Memorial Justice Assistance
Grant Program 16.738 15PBJA-23-GG-03542-JAGX - 18,317
TOTAL U.S. DEPARTMENT OF JUSTICE 40,790$
U.S. DEPARTMENT OF TRANSPORTATION:
Passed Through Missouri Department of 20.106 19-077A-1 -$ 1,741$
Transportation - COVID-19 - Airport 3-29-0013-015-2022 - 65,568
Improvement Program, Infrastructure Investment 3-29-0013-017-2023 - 557,444
and Jobs Act Programs, and COVID-19 3-29-0013-019-2024 459,629
Airport Programs 3-29-0013-020-2024 - 226,665 1,311,047$
Passed Through Missouri Department of 20.205 MO-81-013 -$ 231,344$
Transportation - Highway Planning and Construction J9P3862/FAF-74-1(21)- 223,991
TAP-1501(020)- 14,746
TAP-1501(021)- 37,691
TAP-1501(022)- 29,330
TAP-1501(023)- 28,218
24-1009-1437-40506 - 21,190 586,510
Highway Safety Cluster:
Passed Through Missouri Department of 20.600 25-PT-02-088 -$ 5,313$
Transportation - State and Community Highway Safety 24-PT-02-094 - 6,168
24-CP-09-013 - 156,068
25-CP-09-008 - 128,518
24-EM-02-002 - 3,000
Total Highway Safety Cluster 299,067
Passed Through Missouri Department of 20.607 25-ENF-03-086 -$ 4,838$
Transportation - Alcohol Open Container Requirements 24-154-AL-091 - 1,968 6,806
Safe Streets and Roads for All 20.939 693JJ32340182 - 63,365
TOTAL U.S. DEPARTMENT OF TRANSPORTATION 2,266,795$
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2025
Disbursements
87
Federal Passed
Assistance Listing Program Through to
Federal Grantor/Pass-Through Grantor Program Title Number Number Subrecipients
U.S. DEPARTMENT OF THE TREASURY:
COVID-19 - Coronavirus State and Local Fiscal
Recovery Funds (1)21.027 N/A -$ 530,544$
Passed Through Missouri Department of Natural
Resources - COVID-19 - Coronavirus
State and Local Fiscal Recovery Funds (1)21.027 73134579 - 443,271
Passed Through Missouri Department Public Safety -
COVID-19 - Coronavirus
State and Local Fiscal Recovery Funds (1)21.027 SLFRP4542-EMSPG016 - 6,532 980,347
TOTAL U.S. DEPARTMENT OF THE TREASURY 980,347$
U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES:
Passed Through the Missouri Department of Health
Management Agencyand Human Services - Epidemiology and Laboratory
Capacity for Infectious Diseases 93.323 KQ220051176 -$ 4,400$
Passed Through the National Recreation and Park
Association, Inc.
Assistance Programs for Chronic Disease Prevention
and Control 93.945 NU58DP006985-01-00 - 978
TOTAL U.S. DEPARTMENT HEALTH AND HUMAN
SERVICES 5,378$
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2025
Disbursements
88
Federal Passed
Assistance Listing Program Through to
Federal Grantor/Pass-Through Grantor Program Title Number Number Subrecipients
U.S. DEPARTMENT OF HOMELAND SECURITY:
Passed Through the Missouri Department of Public 97.042 EMK-2024-EP-0004-SL05 -$ 8,763$
Management AgencySafety - Emergency Management Performance Grants EMK-2024-EP-05000-017 - 12,712 21,475
Assistance to Firefighters Grant 97.044 EMW-2021-FG-00303 -$ 3,510$
EMW-2022-FG-02231 - 5,850
EMW-2021-FG-09803 - 45,502
EMW-2023-FG-08212 - 75,664 130,526
Passed Through Southeast Missouri Regional Planning 97.067 EMW-2023-SS-00085-05-04 -$ 7,498$
and Economic Development Comission EMW-2023-SS-00085-05-04 - 3,640
EMW-2023-SS-00085-05-06 - 21,801
EMW-2022-SS-00094-05-03 - 5,086 38,025
TOTAL U.S. DEPARTMENT OF HOMELAND
SECURITY 190,026$
TOTAL FEDERAL AWARDS 3,583,336$
(1) Identified major program.
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended June 30, 2025
Disbursements
89
90
City of Cape Girardeau, Missouri
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Year Ended June 30, 2025
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Purpose of Schedule and Reporting Entity:
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes
the federal award activity of the City of Cape Girardeau, Missouri under programs of the
federal government for the year ended June 30, 2025. The information in this Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the City, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of the City of Cape Girardeau, Missouri
B. Basis of Presentation:
The Schedule is presented in accordance with the Uniform Guidance, which defines federal
financial assistance as “…assistance that non-federal entities receive or administer in the
form of grants, loans, loan guarantees, property (including donated surplus property),
cooperative agreements, interest subsidies, insurance, food commodities, direct
appropriations, and other assistance, but does not include amounts received as
reimbursement for services rendered to individuals.”
C. Basis of Accounting:
The Schedule is presented on the modified accrual basis of accounting, which recognizes
expenditures when liabilities for goods and services are incurred. This is the same basis of
accounting presented in the financial statements.
D. Indirect Cost Rate:
The City’s grant programs involve reimbursement of the City’s actual costs of
administering the programs, and therefore, the City is not reimbursed for indirect costs and
does not apply any indirect cost rate.
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City of Cape Girardeau, Missouri
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the Year Ended June 30, 2025
1. SUMMARY OF AUDITORS’ RESULTS:
Financial Statements
Type of report issued on whether the financial statements
audited were prepared in accordance with GAAP: Unmodified
Internal control over financial reporting:
• Material weaknesses identified? yes X__no
• Significant deficiencies identified? ____yes X none reported
Noncompliance material to financial statements
noted? yes X no
Federal Awards
Internal control over major programs:
• Material weaknesses identified? ___yes X no
• Significant deficiencies identified that are not
considered to be material weaknesses? yes X none reported
Type of Auditors’ report issued on compliance for major federal programs: Unmodified
Any audit findings disclosed that are required to be
reported in accordance with 2 CFR 200.516 (A)? yes X no
Identification of major programs.
CFDA Number Name of Federal Program
21.027 Covid-19 – Coronavirus State and
Local Fiscal Recovery Funds
92
Dollar threshold used to distinguish
between type A and type B programs: $750,000
Auditee qualified as low-risk auditee: X yes no
2. FINANCIAL STATEMENT FINDINGS:
No findings or questioned costs were noted that are required to be reported.
3. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS:
No findings or questioned costs were noted that are required to be reported.
93
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
For the Year Ended June 30, 2025
1. FINANCIAL STATEMENT FINDINGS:
No financial statement findings were noted that were required to be reported.
2. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
No federal findings were noted that were required to be reported.