The URL can be used to link to this page

Home My WebLink About1995-1996.Annual Financial Statement0 L N R A 0 COMPREHENSIVE ANNUAL FINANCIAL REPORT of the City of Cape Girardeau, Missouri For the Fiscal Year Ended June 30, 1996 Prepared by Finance Department Combining, Individual Fund and Account Group Statements r and Schedules: General Fund: Comparative Balance Sheet ....................................... 63 Schedule of Revenues and Expenditures -Budget and Actual (Budget Basis) ............................................... 64 Special Revenue Funds: Combining Balance Sheet ........................................ 67 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ............................................. 68 CITY OF CAPE GIRARDEAU, MISSOURI COMPREHENSIVE ANNUAL FINANCIAL REPORT ` For the Fiscal Year Ended June 30, 19% TABLE OF CONTENTS ' Page INTRODUCTORY SECTION Letter of Transmittal ................................ ............. iii-xiv - GFOA Certificate of Achievement ..................................... xv Organizational Chart ...............................................xvi List of Principal Officials .......................................... xvii FINANCIAL SECTION Independent Auditors' Report on the General Purpose Financial Statements and Supplementary Information ....................... 5-6 General Purpose Financial Statements: Combined Balance Sheet -All Fund Types and Account Groups............................................9-10 Combined Statement of Revenues, Expenditures and Changes in Fund Balances -All Governmental Fund Types....................................................... 11 Combined Statement of Revenues, Expenditures and Changes in Fund Balances -Budget and Actual (Budget Basis) -General and Special Revenue Fund Types ..........................12 Combined Statement of Revenues, Expenditures and Changes in Fund Balances -Budget and Actual (Budget Basis) -Debt Service and Capital Projects Fond Types ....................... 13 Combined Statement of Revenues, Expenses and Changes in Retained Famings-All Proprietary Fund Types ..........................14 ` Combined Statement of Cash Flows -All Proprietary Fund Types....................................................... 15 Notes to the Financial Statements ................................... 19-57 Combining, Individual Fund and Account Group Statements r and Schedules: General Fund: Comparative Balance Sheet ....................................... 63 Schedule of Revenues and Expenditures -Budget and Actual (Budget Basis) ............................................... 64 Special Revenue Funds: Combining Balance Sheet ........................................ 67 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ............................................. 68 Paee Schedules of Revenues and Expenditures -Budget and Actual (Budget Basis) Convention/Visitors...........................................69 Airport.................................................... 70 .. Downtown Business District ..................................... 71 Parks and Recreation ......................................... 72 Health................................................... 73 .. Motor Fuel Tax .............................................. 74 Capital Improvement Sales Tax ................................... 75 Transportation Sales Tax Trust ................................... 76 Flood Protection ............................................. 77 Vision 2000 ................................................78 Debt Service Fund: Comparative Balance Sheet ........................................ 81 Capital Projects Funds: .• Combining Balance Sheet ......................................... 85 Combining Statement of Revenues, Expenditures and Changes in Fund Balances .............................................. 86 .' Schedules of Revenues and Expenditures -Budget and Actual (Budget Basis) General Capital Improvement ................................... 87 Corp Flood Control ........................................... 88 Street Improvements .......................................... 89 FAUStreet Grants ............................................ 90 .� Community Development Block Grain .............................. 91 Park Improvements ........................................... 92 Enterprise Funds: Combining Balance Sheet ......................................... 95 Combining Statement of Revenues, Expenses and Changes in Retained Earnings ........................................... 96 .� Combining Statement of Cash Flows .................................. 97 Schedules of Revenues and Expenses -Budget and Actual (Budget Basis) Sewer.................................................... 98 Water..................................................... 99 SolidWaste ...............................................100 GolfCourse ...............................................101 Softball Complex ........................................... 102 Internal Service Funds: Combining Balance Sheet ........................................ 105 Combining Statement of Revenues, Expenses and Changes in Retained Earnings .......................................... 106 •• Combining Statement of Cash Flows ..................................107 Page Schedules of Revenues and Expenses -Budget and Actual ` (Budget Basis) Data Processing ............................................ 108 Fleet Management...........................................109 Employees' Fringe Benefit .....................................110 Risk Management ...........................................111 Agency Funds: Combining Balance Sheet ........................................ 115 Combining Statement of Changes in Assets and Liabilities .................. 116 General Fixed Asset Account Group: Schedule of General Fixed Assets by Source ............................1 19 Schedule of General Fixed Assets -By Function and Activity ................. 120 Schedule of Changes in General Fixed Assets -By Function and Activity ................................................121 General Long-term Debt Account Group: r Schedule of Changes in Long-term Debt ...............................125 Statement of General Long-term Debt .................................126 STATISTICAI, SECTION - Unaudited General Governmental Expenditures by Function -Table I ..................... 129 ` General Governmental Revenues by Source -Table 2 ........................130 General Governmental Tax Revenues by Source -Table 2A 131 Ratio of Unreserved Fund Balance to Annual General Fund Expenditures -Table 3 ............................................ 132 Property Tax Levies and Collections -Table 4 ..............................133 Assessed and Estimated Actual Value of Property -Table 5 .................... 134 4 Property Tax Rates -Direct and Overlapping Governments -Table 6 ............... 135 ` Principal Taxpayers -Table 7 ........................................ 136 Computation of Legal Debt Margin -Table 8 ..............................137 Ratio of Net General Obligation Bonded Debt to Assessed ` Value and Net General Obligation Bonded Debt per Capita -Table 9 .............................................. 138 Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total General Governmental p Expenditures -Table 70 ............................................ 139 Computation of Direct and Overlapping Bonded Debt -General Obligation Bonds -Table 11 ........................................ 140 - Revenue Bond Coverage -Sewer Fund -Table 12 ............................141 Revenue Bond Coverage -Water Fund -Table 13 ............................142 pare Demographic Statistics -Table 14 ......................................143 Property Value and Construction -Table IS ............................... 144 Miscellaneous Statistics -Table 16 ......................................145 SINGLE AUDIT SECTION .. Independent Auditors' Report on Schedule of Federal Financial Assistance .............................................. 149 Schedule of Federal Financial Assistance ............................. 150-151 Independent Auditors' Report on Internal Control Structure Based on an Audit of General Purpose Financial Statements Performed in .� Accordance with Government Auditing Standards ...................... 152-153 Independent Auditors' Report on Compliance Based on an Audit of General Purpose Financial Statements Performed in Accordance with Government Auditing Standards ........................154 Independent Auditors' Report on the Internal Control Structure used in Administering Federal Financial Assistance Programs .................... 155-157 Independent Auditors' Report on Compliance with the General Requirements Applicable to Major and Nonmajor Federal Financial Assistance Programs ....................................... 158 Independent Auditors' Report on Compliance with Specific Requirements Applicable to Major Federal Financial Assistance Programs ................................................... 159-160 ... Independent Auditors Report on Compliance with Specific Requirements Applicable to Nonmajor Federal Financial Assistance Program Transactions ............................................. 161 .� I 4, INTRODUCTORY SECTION THIS PAGE INTENTIONALLY LEFT' BLANK. ii CITY OF CAPE GIRARDEAU RNI EDIPFOTp CittX LL PO.D x"' December 31, 1996 O.VE o11UgDEFV. MOW702C 17 Honorable Mayor, City Council and Citizens City of Cape Girardeau, Missouri The comprehensive annual financial report of the City of Cape Girardeau for the year ended June 30, 1996, is hereby submitted for your review as mandated by the City Charter. ., The general purpose financial statements included in this report were audited by the independent certified public accounting firm of Begley, Janssen, Young & Birk Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, tests with management of the City. To the best of our knowledge and belief, the enclosed data are accurate in all material respects and are reported in a manner that presents fairly the financial position and results of operations of the various funds, account groups, and component units of the City of Cape Girardeau. All disclosures necessary to enable the reader to gain an understanding of the City of Cape Girardeau's activities have been included. The comprehensive annual financial report is presented in four sections: introductory, financial, statistical, and single audit. The introductory section, which is unaudited, includes this letter of transmittal, an organizational chart, and a list of the City of Cape Girardeau's principal elected and appointed officials. The financial section includes the independent auditors' report, the general purpose financial statements, and the combining, individual fund and account group statements and schedules. The statistical section, which is unaudited, is designed to provide a broader understanding of the City by providing ten year trend data and nonfinancial information useful in assessing the City's financial affairs. The City of Cape Girardeau is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1984 and the U.S. Office of Management and Budget's Circular A-128, "Audits of State and Local Governments." Information related to this single audit, including a schedule of federal financial assistance and the independent auditors' reports on internal controls and compliance with applicable laws and regulations are included in the single audit section of this report. This report includes all the funds and account groups of the City of Cape Girardeau, as well as all of its component units. Component units are legally separate entities for which the elected officials of the City are financially accountable. The activities of the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA) are blended with the financial presentation of the City. The CGPFA is used to execute the bond indentures for the purpose of issuing and securing bonds for use by the City. The City of Cape Girardeau provides a ,r full range of services including police and fire protection, sanitation services, the construction and maintenance of streets, regional airport operation, and various park and recreation activities and cultural events. "HOME OF MISSOURI STATE FLAG' Economic Condition and Outlook The City of Cape Girardeau is the largest regional hub of population and economic activity between St. Louis, Missouri acid Memphis, Tennessee. The population within the City's 40 -mile trade area is over 300,000 with a work force of over 140,000. Cape Girardeau County's population grew from 49,350 in 1970 to 61,633 in 1990 and had a 1994 estimate of 64,506. The City itself has a current estimated population of 36,701 and the immediate urban area of 54,000. The City's regional status is best illustrated by its diverse economy that has had continued growth for many years. The City had retail sales exceeding $630,055,700 and $659,820,300 in fiscal years ending June 30, 1995 and 1996 respectively. Major retail _ establishments that contribute significantly to the City's economy are: Wal-Mart, K -Matt, Lowe's, Venture, Seats, JC Penny, Target, Famous -Bar and K's Merchandise. A new Sam's store is currently under construction and is scheduled to open in March, 1997. The Cape area has 17 manufacturing firms employing over 100 persons. The two largest, Lee -Rowan and Proctor and Gamble, employ 1„200 and 1,104 respectively. The area also Inas 14 non -manufacturing firms and institutions employing over 100 persons. The two largest, Southeast Missouri Hospital and St. Francis Medical Center, employ over 1,400 and over 1,300 employees respectively. These two major regional medical facilities are augmented by the Cape Girardeau Doctors' Park office and health care complex. Combined, these three facilities are served by over 150 doctors. in the fall of 1996, Alliance Blue Cross - Blue Shield began construction of a new regional claims center that when completed will employ over 200 people. The City's regional status is also enhanced by Southeast Missouri State University with ». an enrollment of 7,800 and an employment of nearly 1,000. The campus also includes the joint City -University owned and operated Show -Me Center which has a total seating capacity of over 7,000. In August 1996 the University opened a new building housing the nationally - accredited College of Business. The new building contains 110,000 square feet and cost $153 trillion. the robustness of the City's economy is further illustrated by growth statistics compiled from building permit records. For the five year period 1990 through 1994, the City averaged $35,166,517 per year in declared construction costs, In 1995 this total reached $43,691,537 and it is projected that 1996 totals will exceed this amount. All of this business and construction activity has caused the County's unemployment rate to be consistently below state and federal averages for a number of years. As a result of the diverseness of the area's economy, the City's pivotal geographic location and its history, there is every reason to believe that the community's economy will continue to grow in the future. In the past, these attributes have also acted to "shield" the area from national recessive trends that have had major impacts on other surrounding areas. A marked example of this growth Vend is the City's Five -Year Capital Improvements Program which envisions over $74,000,000 in capital investment in the City's infrastructure through the, year 2001. iv .. Major Initiafives Cmrem. In recent years, the City has completed 20 -year master plans for the .. development of its water system, sewer system, and regional airport. Current year budget basis expenditures for improvements and additions to the water system, sewer system, and regional airport totaled approximately $.8, $5.1, and $2.2 million respectively. Additionally, .W budget basis expenditures for improvements and additions to the street system this year totaled approximately $2.6 million. Revenue bonds totaling $13,535,000 were issued this ' year to cover the last phases of construction on approximately $25 million in major +► improvements to the City's sewer system which include separation of its combined sewers. These projects are currently estimated to be completed by the end of fiscal 1999. Construction of a estimated $43 million flood control project on Cape LaCroix Crack and Walker Branch is currently about 80% complete. This project, done in cooperation with the U. S. Army Corp of Engineers, is expected to be completed in early calendar year 1998. Both the major sewer projects and the City�s 25% share of the flood control projects are funded by debt which will be paid from receipts of a 1J4% capital improvement sales tax approved in 1988. The expiration of this tax was extended by voter approval in 1994 through the year 2019. In August 1995 Cape Girardeau citizens approved by a fib% to 32% margin a one - lain, percent transportation sales tax that will expire at end of the year 2000. The tax, which became effective January 1, 1996, is estimated to generate in excess of $17,600,000 over its five year life for street improvements within the City of Cape Girardeau. This tax will fund approximately twenty specific major street projects for the purpose of upgrading and ` responding to demands for new growth. The City will also complete a new multi -use recreational/social event building and softbaWsoccer complex with total combined costs of approximately $5,070,000 in early 1997. These facilities will have a major regional impact and are expected to have a significant impact on the area's economy. Also, of major significance, is a project of the State Highway Department to build a new Mississippi River Bridge and four -lane highway connection to Interstate 55. The City is intricately involved with this $86 million plus project. The first section of the new highway was opened in 1996. Construction, also, was initiated on the I-55 interchange and the center span of the new bridge. r Future. In November, 1996, the Citizens of Cape Girardeau approved a $26.5 million water revenue bond authorization and a one-fourth percent capital improvement sales tax to fund major improvements to the City's water system. These improvements will include the +� expansion of the City's train treatment plant by 2.7 MGD (million gallons per day) to 7.2 MGD and major improvements to storage and distribution facilities. Department Focus The City Manager's office has been selected to highlight this year. The office is comprised of the City Manager, his Administrative Assistant, and the Deputy City Clerk The City Manager serves in the same capacity for the City as a Chief Executive Officer does for a private corporation. He is responsible for the day to day operations of the City and reports to the City Council in the sane way that a CEO is responsible for the day to day operations of a corporation and reports to its board of directors. The Deputy City Clerk acts as the secretary for the City Council. During this year Mr J. Ronald Fischer retired as City Manager on July 31, 1995, after more than seven years of service to the City. After a nationwide search, Mr Michael G. Millet was chosen as the City's next manager. Mr. Miller brought a new management style based on a "team management" concept to the City. Mr. Miller immediately implemented a team training program for City employees to acclimate them to the team management process. By June 30, 1996, seventy-one employees bad completed the three day team training program. By the end of this fiscal year nine employee teams had been organized to propose solutions to a variety of city and employee concerns and problems. These have covered areas such as the budget, compensation, annexation policy, employee orientation, personnel manual, computer system and other various topics. Financial Information Management of the City of Cape Girardeau is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft or misuse and to ensure that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance .— recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgements by management. As a recipient of federal, state, and local financial assistance, the City of Cape «. Girardeau is also responsible for ensuring that an adequate internal control structure is in place to ensure and document compliance with applicable laws and regulations related to these programs. Tbis internal control structure is subject to periodic evaluation by management and the interval audit staff. m Single Audit. As part of the City of Cape Girardeau's single audit described earlier, tests were made of the City`s internal control structure and of its compliance with applicable laws and regulations, including those related to federal financial assistance programs. Although this testing was not sufficient to support an opinion on the City's internal control system used in administering federal financial assistance programs or its compliance with laws and regulations related to non -major federal financial assistance programs, the audit for the year ended June 30, 1996 disclosed no material internal control weaknesses or material violations of laws and regulations. vi ` Budgetary Controls The City of Cape Girardeau maintains budgetary controls as described in the City Charter. The objective of these controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City Council. Activities of the General, Special Revenue, Debt Service, Capital Projects, Enterprise, and Internal Service Funds are included in the annual budget appropriations. The level of ` budgetary control (i.e., the level at which expenditures cannot legally exceed the appropriated amount) is by department level of administrative services, development services, parks and recreation, public safety, and public works. The City also maintains an encumbrance accounting system as one method of maintaining budgetary control. Budget appropriations expire at the end of the year, however, outstanding encumbrances at the end of the year are honored by the City. As demonstrated by the statements and schedules included in the financial section of the report, the City of Cape Girardeau continues to meet its responsibility for sound financial management. General Government Functions The following schedule presents a summary of general, special revenue, and debt service fund revenue and operating transfers in for the years ended June 30, 1996 and 1995. Amount of Pe t of Revenues and 1996 Pame nt of 1995 Increase Increase ` Transfers Amount Taal Amount ecreace roacrease) Taxes S 14,247,577 58.4% $ 12,379,085 $1,868,492 15.1% Licenses and permits 892,038 3.7% 1,059,118 (167,080) (15.8%) r Intergovernmental 2,284,988 9.4% 1569,996 714,992 45.5% Charges for services 653,930 2.7% 613,537 40,393 6.6% Int-leparmrental 472,959 1.9% 433,821 39,138 9.0% Fines and forfeitures 553,214 2.3% 501,565 51,649 10.3% Miscdlaneoos 422,656 1.7% 172,677 249,979 144.8% Interest 699,485 2.9% 828,686 (129,201) (15.6%) Special assessments 71,957 0.3% 268,338 (196,381) (731%) �- Operating transfers in 4.075.735 16.7% 4 1964 12f 0.700) (2.9%) TOTAL $ 24 3. 74539 100.0% S 2%E3 258 E2.35t.281 The largest dollar change in revenues for the current fiscal year was a $1,868,492 or 15.1% increase in tax revenue. The majority of the increase was due to $1,230,192 in one- half per cent transportation sales tax revenue. This was a new tax passed by voters in August, 1995 which became effective January 1, 1996. Excluding the effects of this new revenue source tax revenue would have increased $638,300 or 5.2% over the previous year. Other significant tax revenue sources are one per cent general sales tax, one-fourth per cent capital improvement sales tax, franchise taxes, real estate and personal property taxes, hotel / motel tax, and restaurant tax. Total general sales tax collected this year was $6,598,303 which represented 48.4% of total general fund revenues before transfers and a 4.7% increase over the previous year's revenue. Previous year's general sales tax revenue was 50.9% of that year's general fund revenues before transfers. The 1/4% capital improvement sales tax increased 4.7% or $74,462 this year. This tax is used to pay debt service on leasehold revenue bonds issued to fund the City's share of the Army Corp of Engineer's Flood Control Project. vii Franchise taxes increased $214,096 or 9.9% over the previous year mainly because of -' a colder winter and higher natural gas prices. Real estate and personal property tax increased 4.7% or $60,694 this year. The tax levy associated with general, special revenue, and debt service funds remained at $0.47 per $100 assessed valuation. Total assessed valuation increased 5.2% over the previous year. The two tourist related taxes, a 3% hotel / motel and a I% restaurant tax, used to fund the Citys convention visitors fund declined $10,890 or 1.3% this year . The testamant tax increased $838 or 3% over the previous year while the hotel / motel tax decreased $11,728 or 2.1 % from the previous years. The second largest dollar change in revenues for the current fiscal year was a a $714,992 or 45.5% increase in intergovernmental revenue. The major components of this increase were grant funding for a rescue vehicle at the Regional Airport, reimbursement of expenses caused by Mississippi River flooding from the Federal Emergency Management Agency and a Community Development Block Grant to buyout property owners affected by the flood, The $192,406 grant received by the Regional Airport to purchase the rescue vehicle was partially offset by a mid year loss in an operating grant to fund operation of the airport's a control tower. The loss in the operating grant resulted in a $92,612 reduction in revenue this year. The increased revenue received from FEMA and the CDBG grant were $123,367 and _ $369,990 respectively. The two biggest percentage changes from the previous year were miscellaneous revenue and special assessment revenue. Miscellaneous revenue increased $249,979 or 144.8% over the previous year as a result of a $150,000 payment received from Boyd Group upon completion of a river boat gaming development agreement with the City and a $50,000 ._ contribution from Cape Girardeau County to help defray the costs of a new rescue vehicle in the City's fire department. Special assessment revenue decreased $196,381 or 73.2% as a result of high prepayment in the previous year. Interest revenue also showed a significant decrease from the previous yeafs revenue. This resulted from previous year's earnings on an escrow account held as part of a crossover - general obligation bond refunding that was completed last year. Excluding the effect of the escrow account's eamings, interest revenue would have increased $73,986 or 11.8%. viii. " The following schedule presents a summary of general, special revenue, and debt service funds expenditures and operating transfers out for the years ended June 30, 1996 and 1995. r Amount of Paean of Expenditures and 1996 Pelceat of 1995 lucreax: Increase ?' rlgnd�a mount TwatAmovamt fPe»5l 01 Cnurem Admbdmative services $ 2,307,806 10.2% $ 2,115,694 $ 192,112 9.1% Development services 1,335,849 5.9% 1,119,984 215,865 19.3% Pais crud recreation 1,717,348 7.6% 1,549,005 168,343 10.9% Public eddy 7,052,128 31.0% 6,440,889 611,239 93% Public works 1,720,342 7.6% 1,709,219 11,123 0.7% Contingency 596,916 2.6% 123,390 473,57b 383.8% Debt auvice: Principal 2,054,647 9.0% 8,973,375 (6,918,728) MA%) Interest and fixe! charges 905,553 4.0% 1,456,630 (551,077) (37.8%) Operating trandas out 5.011.640 22.1% 4 148 611,49213.9% r TOTAL $ 22.742.229 100 $ Z7.888.334 5186 ' For the fiscal year ended June 30, 1996, all full-time employees of the City receiving a satisfactory evaluation were given a pay grade increase which averaged about 2.5% on their anniversary date. The number of full-time and fte (full-time equivalent) employees increased by 3 and 5 respectively from prior year's levels of 260 and 303 respectively. Included in these increases are 2 temporary full-time construction inspectors which were hired specifically for the $25,000,000 sewer improvement program and one permanent full-time park maintenance worker. Each new position did not necessarily equate to a full years expense W since full-time employees were added at various times throughout the year. Additionally, the employee fringe benefit fund implemented a $525 per full-time employee charge to all city funds to reimburse for costs associated with refunding prior years employee pension contributions to the employees. The increase in the adnrinisirative services expenditures this year was mainly the result of the $158,841 in additional costs at the regional airport. This increase resulted from an additional $35,000 in expenditures for major repairs to structures at the airport and an additional $180,931 spent on a rescue vehicle. The additional costs were partially offset by a $54,294 reduction in costs to operate the airport restaurant that was realized because of the transfer of its operations to another party during the year. Excluding the increase in aitpan operations administrative costs increased 2.3% over the previous year. f Two maincomponents of the $215,865 or 19.3% increase in developmental services V costs this year were a $93,685 or 13.1% increase in personnel costa in the inspection, planning, and engineering divisions and a $48,867 increase in fixed asset expenditures by the engineering division. r ix 0 The majority of the increase in parks and recreation resulted from increases over the previous year of $89,477 or 13.4%, $28,866 or 11.6%, and $27,381 or 23.6% for the parks maintenance, recreation, and cemetery divisions respectively. A $34,489 or 8.2% increase in personnel costs and a $26,549 or 59.5% increase in fixed asset purchases made up the majority of the difference in the maintenance division. Increased part-time salaries and increased costs of concessions sales related to additional special events made up the majority of the recreation divisions increased costs. Fixed asset expenditures made up all of the increased costs in the cemetery division. Public safety costs increased $611,239 or 9.5% this year over last. The Police and Fire y division's expenditures increased $249,939 or 7.0% and $354,761 or 13.8% respectively. included in this yews Police expenditures were increases of $34,445 or 25% for overtime and $33,740 or 75% for police cars. Excluding these items the Police expenditures grew 5.4% over the previous year. Fire expenditures included an increase of $228,219 for fixed asset purchases. Included in these purchases was a new fire truck / rescue vehicle which had $50,000 of its costs funded by the County. Excluding fixed asset purchases, Fire expenditures grew 5% over the previous year's expenditures. This years $473,526 increase in contingency costs were related to the 1995 Mississippi River flood. Increased costs of $527,341 resulted from expenses related to flood damage and cleanup and a grant funded buyout program for residents affected by the flood. ._ This year's decrease in debt service costs result largely from $7,090,000 of bonds being called last year in a cross over refunding. Interest and call premiums paid on those bonds last year amounted to $445,257. The decrease in operating transfers out this year was due primarily from a reduction in .. transfers out of the Motor Fuel Tax Fund. The transfers to the General and Debt Service funds decreased $175,000 and $400,000 respectively. General Fund Balance. Total fund balance increased $208,429 this year to $5,489,129. Unreserved fund balance increased $58,921 this year to $3,448,231 or approximately 3.10 months of the 1995-1996 budgeted general fund operating expenditures and operating •- transfers out. This compares favorably to the previous year's unreserved fund balance of $3,389,310 which was approximately 2.97 months of the 1994-1995 budgeted general fund operating expenditures and operating transfers out. Enterprise Operations. The enterprise operations of the City are comprised of the wastewater treatment and collection system, water treatment and distribution system, solid waste collection which includes transfer station operations, municipal golf course, and softball complex. Rates for all enterprise operations remained the same as the previous year except for water rates which increased 3% at mid -year and major golf course fees which increased 5% at the beginning of the year. The sewer fund operated at a $241,180 profit this year compared to a $400,921 profit the previous year. Operating revenue increased $10,245 over the previous year resulting mainly from a $36,797 or 1.6% growth in sewer usage charges. Operating expenses increased .� $157,045 or 8.7% over prior year's expenses. Interest related costs increased $692,047 over the previous year due mainly to the June 1995 issuance of $11,462,662 in sewer revenue bonds for the purpose of maldng various improvements to the sewer system. Interest revenue increased $688,088 over the previous year due mainly to investment of the unspent portion of the revenue bonds issued in June, 1995. - The water fund operated at a $233,118 profit this year compared to a $60,172 loss the previous year. Operating revenue increased $234,200 or 6.3% over the previous year. This reflected a 5% consumption rate increase that went into effect January, 1995, and a 3% total rate increase that went into effect January, 1996, increased water usage, and a $14,5% increase in other customer related fees. Operating expenses decreased $47,006 or 1.5% over prior year's expenses. Interest related costs decreased $7,840 from the previous year while ` interest revenue increased $4,245 over the previous year. The solid waste fund operated at a $243,338 profit this year compared to a $1,577,398 ` profit the previous year. A significant change in the estimate for future liability for landfill post closure costs resulted in a negative charge of $1,163,628 in the previous year while this year the adjustment to that estimate resulted in a $155,779 charge. Profit before landfill post ` closure costs was $399,117 this year which was $14,653 less than last year. Operating revenue decreased $262,339 or 10.1% over the previous year resulting ` mainly from a $360,950 or 81.6% decrease in commercial charges and a $144,932 or 17.6% increase in revenues generated at the transfer station. The decrease in commercial charges resulted from the City discontinuing commercial service in August, 1995, while the increase in transfer stations revenues resulted from growth in the volume of solid waste received from private haulers and surrounding communities. Excluding the costs associated with landfill post closure previously mentioned, o- operating expenses decreased $140,858 or 5.9% from the previous year. A $206,257 decrease in costs resulted from the discontinuance of commercial service by the City. This helped offset minimal increases in other areas of the solid waste fund. The City entered into a five year disposal and hauling contract in December 1993 with guaranteed rates that increase .. annually over the contract. According to this contract the City's cost will only increase 5.65% in total from the December 1994 rate change until the last rate change in December 1997. r The solid waste fund also recognized a $111,935 gain this year from the sale of assets used by the City for commercial solid waste collection. - The golf course fund operated at a $39,842 profit this year compared to a $40,932 profit the previous year. Loss before transfers in decreased by $8,910 to $5,158 this year from last year's loss before transfers in of $14,068. Golf course operating revenue decreased $8,209 '— or 1.9% over prior years revenue even though fees were increased 5% at the beginning of the year. This decrease resulted from less rounds golf being played. Golf course operating expenses decreased $1,024 or .3% over prior year expenses. Xi The softball complex is intended to account for the operations of a 5 field softball complex . The complex has been in the process of construction for the past two years and was not fully completed at the end of this year. This year's operation reflected the results of running the spring and fall softball programs at other sites and the costs of maintaining portions of the new complex that were completed. last year's operations reflected only the results of running the spring softball program and maintaining the portions of the new complex that were completed. Upon its completion, additional revenue is expected to be .. earned from higher league fees, tournament revenue, concession revenue, and attendance fees. Additional costs will also be incurred. Eventually, the complex is expected to operate on a breakeven basis. Pension Trust Fund Ocemtions. The City contributes to the Missouri Local Government Employees Retirement System, an agent multiple -employer public employee •- system that acts as a common investment and administrative agent for local government entities in Missouri. This systemwas created and is governed by state statute. At February 28, 1996, the most recent actuarial valuation date, the City's actuarial determined unfunded accrued liability was $1,351,041. This compares unfavorably to the unfunded accrued liability of $978,041 at the prior valuation date of February 28, 1995. Debt Administration. At the end of the year, the City of Cape Girardeau had a number of debt issues outstanding. These issues, net of applicable discounts, included $3,390,000 of general obligation bonds, $41,201,811 of revenue bonds, $12,976,069 of leasehold revenue bonds, and $6,745,000 certificates of participation. This compares to $3,690,000, $27,228,886, $15,199,502, and $6,990,000 respectively for the previous year. This year the City issued $9,095,000 in Water System Refunding Revenue Bonds and $13,535,000 in Sewer System Revenue Bonds, The Water System Refunding Bonds were used to defease $8,090,000 of Series 1992 Water System Revenue Bonds. This transaction resulted in a deferred accounting loss of $721,482 that will be amortized over the fife of the newly issued bonds. The economic gain from this refunding was $263,008. The Sewer System Revenue Bonds were issued to cover the last phases of construction on $25 million in major improvements to the City's sewer system. Only $1,289,796 of future debt service on bonds currently outstanding will require use of general fund revenues. The City has maintained its "A" rating from Moody's Investor Service on general obligation bond issues. Cash Management Policies and Practices The City currently operates under an investment policy established by resolution of City Council on July 10, 1989 and amended by resolution on April 19, 1993. The major objectives of this policy are preservation of principal invested, availability of cash when needed, maintaining a market rate of return, and avoidance of any investment that may impair public trust. The policy allows City funds to be invested in U.S. Treasury issues, U.S. agency issues, repurchase agreements that are written and fully collateralized by the previous mentioned bonds that are delivered to a third party, collateralized or insured certificates of deposit, and money market instruments comprised of the above mentioned instruments, The City currently uses all the above instruments as investments for its operating funds. The proceeds of bond issues may be invested according to their indentures. xii At the end of this year the City's investment portfolio contained $24,936,438 in investments for funds that were under the City's control and $25,748,281 in investments for funds that were not under the City's control. The investments that could be controlled by the City were invested as follows: (1) $2,742,622 insured Certificates of Deposit (2) $2,672,400 Repurchase Agreement - U. S. Government Securities (3) $15,204,562 U. S. Government Securities (4) $4,316,854 Money Market Account - U. S. Government Securities. Market ` value of these investments was $24,832,037 at the end of the year. The investments that could not be controlled by the city were $24,936,438 in investment agreements used to invest construction funds held by the State Sewer Revolving Fund program and $1,598,987 in ` deferred compensation funds whose investment is controlled by the City's employees. Risk Management. The City has established self-insurance plans for employees' health ` insurance and workers compensation. Both of these are accounted for in internal service funds that use premiums charged to other City funds to pay out health and workmen's compensation claims and administrative costs. The City has hired an administrator for each plan and is substantially self-insured, but is insured against large losses by private insurance companies. Additionally, various control techniques have been implemented including ` employee accident prevention training, formation of an employee safety committee, and committee review of all accidents. At the end of the year, the retained eamings balances of the internal service funds that account for the health insurance and workmen's compensation plans were $897,806 and $939,500 respectively. This compares to $1,034,859 and $523,265 respectively for the ,. previous year. At the end of the year, liabilities for estimated loss claims of $208,126 and $191,420 were included in the balance sheets of the Employee Fringe Benefit and Risk Management funds respectively. r Other Information r Independent Audit. The City Charter of the City of Cape Girardeau requires that an annual audit be performed by independent certified public accountants. The fmn of Begley, p Janssen, Young, & Birk was selected by the City Council to audit the records of the City for the fiscal year ended June 30, 1996. The firm conducted their audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management ` and Budget Circular A-128, "Audits of State and Local Governments." The audit was also designed to meet the requirements of the Single Audit Act of 1984. In the Financial Section of this report, the auditors' report on the general purpose financial statements and combining, ` individual fund and account group statements and schedules are included. In the Single Audit �. Section of this report, the auditors' report on internal controls and compliance with applicable laws and regulations concerning federal financial assistance can be found. r Awards, The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Cape Girardeau, Missouri for its comprehensive annual financial report for the fiscal year ended June 30, 1445. This is the second year the City of Cape Girardeau received this prestigious award recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report in accordance with generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for one year only, so in order to participate in the program a comprehensive annual financial report must be submitted for review each year. The Finance Department of the City of Cape Girardeau would like to submit the comprehensive annual financial report of the City of Cape Girardeau for the fiscal year ended June 30, 1946 to the Government Finance Officers Association for review in the Certificate of Achievement program. We believe our report conforms to the program requirements and is an efficiently organized report that will enhance readers in accessing the financial affairs of the City of Cape Girardeau, Acknowledgments. The preparation of the comprehensive annual financial report has been a significant accomplishment of the Finance Department of which we are proud to have .. completed. We would like to express our gratitude for the continued support of management which made the preparation of this report possible. We are looking forward to the challenges and opportunities that the Certificate of Achievement for Excellence in Financial Reporting Program offers for the future. Respex)�y submitted, Michael G. Miller John R. Richbourg a. City Manager Finance Director xiv F r s V f r Certificate of Achievement for Excellence in Financial Reporting r t Presented to City of Cape Girardeau, Missouri For its Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 1995 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. t a � k corYrr9 r o W imm . "m rPreside sk, �c� JofQ� E%CNINC Director r XV iorary Police CITY OF CAPE GIRARDEAU, MISSOURI ORGANIZATIONAL CHART CITIZENS OF CAPE GIRARDEAU k Cily Council Services Human Visitors Municipal Court Assistant CITY OF CAPE GIRARDEAU, MISSOURI PRINCIPAL OFFICIALS June 30, 1996 Elected Officials Mayor A. M. Spradling IR Councilmember, Zone 1 JJ. Williamson, Jr. Councilmember, Zone 2 Thomas A. Neumeyer Councilmember, Zone 3 M. Jack Rickard Councilmember, Zone 4 Melvin C. Kasten Councilmember, Zone 5 Melvin R. Gateley Councilmember, Zone 6 Richard L. Eggimann APnointed Officials City Manager Michael G. Miller Puhlic Works Public Works Director Douglas K. Leslie Adminislralive Services City Attorney W. Eric Cunningham Human Resources Director Daniel G. Ward Finance Director John R. Richbourg Convention/Visitors Director Mary F. Miller Public Safety Police Chief Howard H. Boyd Fire Chief Robert L. Ridgeway Parks & Recreation Director Daniel D. Muser Development Services City Planner Kent M. Bratton City Engineer Mark A.Lester Inspection Services Director Richard L. Murray THIS PAGE INTENTIONALLY LEFT' BLANK. A A A FINANCIAL SECTION i r L C L THIS PACE INTENTIONALLY LEFT BLANK. 0 14 I L INDEPENDENT AUDITORS' REPORT 0 THIS PAGE INTENTIONALLY LEFT BLANK. r Q Begley, Janssen, Young & Birk, LC CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST. - CAPE GIRARDEAU, MISSOURI 63701 -TELEPHONE (573) 334 2845 - FAX (573) 3344338 PARTNERS t JOHN R. JANSSEN, CPA JENNIFER WESTRICH. CPA TERRY R. BEGLEY CPA JEFF UNTERREMER, CPA LAWRENCE E YOUNG. CPA CATHERINE A. WHITE KELVIN W. BIRK, CPA INDEPENDENT AUDITORS' REPORT ON THE GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION r Honorable Mayor and Members of the City Council 1.. City of Cape Girardeau, Missouri I" We have audited the accompanying general purpose financial statements of the City of Cape Girardeau, Missouri as of June 30, 1996, and for the year then ended as listed in the table of Ir contents. These general purpose financial statements are the responsibility of the City of Cape Girardeau, Missouri's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted " auditing standards, Government Auditing Standards, issued by the r Comptroller General of the United States, and the provisions of Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general ■, purpose financial statement presentation. we believe that our audit provides a reasonable basis for our opinion. s In our opinion, the general purpose financial statements referred to aboveresent fairly, y, in all material respects, the financial position of the City of Cape Girardeau, Missouri as of June 30, 1996, and the results of its operations and cash flows of its r proprietary fund Lypes for the year Chen ended in conformity with generally accepted accounting principles. 5 Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri Page 2 Our audit was made for the purpose of forming an opinion on the ., general purpose financial statements taken as a whole. The combining, individual fund and account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Cape Girardeau, Missouri. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial ._ statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. The accompanying information in the statistical section is presented for purposes of additional analysis and is not a required part of the general purpose financial statements. Such information •- has not been subjected to the procedures applied in the audit of the general purpose financial statements and, accordingly, we express no opinion on it. •_ BEGLEY, JANSSEN, YOUNG & BIRK, LC e'J� 0 , (�ur4, � ✓3r�1Jf, .CCS '- Cape Girardeau, Missouri November 26, 1996 ._ 6 p 0 A GENERAL PURPOSE FINANCIAL STATEMENTS A I r r THIS PAGE INTENTIONALLY LEFT BLANK. CEy al Cepa Gild®u, M®oud COMBINED DAI.ANCE SHEET ALLFUND_HrEM AND ACCWNT GROUPS June W. 19913 Fiducl G ,reenertlel Fund Types Proprietary Fund Ty" Fuel TypapzdeR Gmye Gerael Genael Special Defy Capital Inferred Fined Long -Term rata a Mere vent m OnNI SEanai ReNerRue >rad0. Pham F'llalp[ki senior. Ems'. Aaeab. --Dw L 9-+'1.D-ffi. 6-w-95. ASSETS AND OTHER DEBITS Cash aryl rash ac.6M 51,68811 $240).401 5024,7,10 54,394$65 51,438,014 521]42)0 5fute's 5 E- S- 513,604,714 512,5JQ Irveamarrb - 1.5 ,txto 2,137,081 080,141 1.26089 $2)9,9$ 1,80,987 - - 7,665,151 7.71281 Recelrebba, rel of ellwences for dou lroob abler Reel eSmte, peryxea property, eMmerchantswea 44970 91502 12063 - - - 1$081 - - 02424 0G661 Sete. 58,962 4,11,995 _ _ _ _ _ _ _ 980,99 690.741 Frerohbeem. 1,W3.81 _ _ _ _ _ _ _ 1.03,81 1.048,89 Hotel -motel tax recaMaba - 31,047 _ _ _ _ _ _ _ 3100 31399 ReNeunrrtmx mEeNede - 45144 - - - - - _ - 4S1u 49,81 Utility oM,. r.f,,rNe _ _ _ _ 1.1&],tofi _ _ _ _ 1,163,106 1,136.239 3ped51 sure orbonl —Mau. 4$640 - 6@,534 9$794 142164 _ _ _ _ 950.952 15014.917 Imereer rer.N bl. 153,001 32615 3Q193 M951 404,959 3,1903 - - - 60,319 216,023 Other receMblee 146,91 1),]10 - - WN8 18,321 7,004 - - 329.454 28,176 Wry, receivable _ _ _ 0.065 _ _ _ _ _ 0.065 12097 Imfu nmenbl ramlrebes Mo.tortur - 6585 _ _ _ _ _ _ _ 85065 8],329 YONCle Mmrvehlcle Manse fees - 15349 - - - - _ _ - 15349 15849 MotorveberArnIlea tax - 1],502 1),502 1],852 treront.1 veble 261139 1201 - dg6,261 291,575 - - - - 1.OH,540 282.540 Due, front oo 1,43,2,19 t,)43(N9 1,162610 ot,erWrote Apanastp oNC NnW 1,752.`500 - - - - - - - - 1,]5$500 1,]52,500 ImeMviea &1 19219 - - 18,211 91465 137,985 18,09 RESPIQEQ fl95Eb CeaheM®ah o4uMalmrb - _ _ - 259)8,)79 - - - - 259)6,]9 14,565922 Imaetments 2626,804 2,826,84 3,581,359 Prepaid none 9,043 11.161 - - 1,040.705 72291 _ _ _ 1.107.260 8.41311 F"dussG5, net of ec W mU9ted depreciation - - - - 35076.922 070951 - 14,172520 - 50128.993 43651.Ti6 OMerdel Amount arelkde in Debt Servoe FeM _ _ _ _ _ _ _ _ 2.W 4tus 2,959,494 2,907.81 Amount to be prwyled for mtire'nore of 9enerel I., -farm deb, - - - - - - - - 14052217 14,052217 15146,599 Amount to be prwiden for Nture payment of aoaperneten eb5erlaaa - - _ _ 542.319 Tafel eseeb eM VNer debits 5))28840 51.68]681 &180)418 633))) 570.59501) 124))) 514.172520 1)557)02 5129.892.58 $110.53658 (CONTINUED) THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PAW OFTHS STATEMENT. Cay or Celle Ga ., Mw GOWINEG6 NCE SHEET A FUNOTWES AND ACCOUNT GROUPS June W. 19C6 THE NOTES TO THE FINANCIAI- STATEMENTS ARE AN INTEGRAL PNPTOFTH6 STATEM ENT. • 1 � 1 1 l 1 1 1 1 1 \ f 1 \ I e \ 1 RCUr , Goyerdill tul Fund Types Prolerledw, Fund Types Fund Type Account Groupe General Gencal general Spacial (Revenue OWI RerA cww Irereml Flied L�-Tann Tdah Menemd, QNl UA&IfTIES, EWfTY ANO OTHER CREgTS Promos LfIIsyleS S" ApaSGy A.@eta n.ht H. -3]=@B B_3-95 lie 11N Ac .O pial oo 523314% 5153021 S- 5415,311 51.082,192 5565,448 521,251 E- S- 52509,879 E1,)2SS)6 Acctuodl'eNlN SelarreapaYrdl.ea and b. -F. 2%,112 49,002 - - 130,230 2&594 10620 - 545991 1,coA.M9 1,026,112 Ndee payable 4,413 40413 44,692 IMerestpeyabk - - - - 3)4,)89 - - - - 3)4)89 W2 Ottrorl'ebilh'lae 140.872 400 - - 1%,806 5,498 419919 - - )25,298 521,09) 0.a to odnr9ovemmai¢ - - - 11000 131.371 - - - 81,841 216,212 2®,228 Qie to other fuMe - - 0914 W144 1,1%0,191 - - - - 1,74$249 1,182.610 Ad .from otherfunds _ _ _ _ 1,677,500 - 75000 - - 1.)52,500 1,32.%0 Curmm portion of lo,-tondebt - - - - 1,158,125 - - - 2,185,8!5 3.322000 3,020.000 Eon9-ten debt lot of cur It Portion R nuobondspeyeble - - - - 40789.810 - - - - 44789810 26832.022 Loo- ld-onueboMepayebla - - - - 2120.005 - - - 853B1995 10)16,0)0 1290,080 p C witirates of perkpatbn - - - - 326O03o _ _ - 3,155,030 6,43s,Op 6.745,0.00 G.M. ol,H bon refund., OF'. payable 3,,10033 2W0,O00 3.30].0]0 6t'metad IeMill Flo eure eM port,F sum cast letnM - - - - 615,258 - - - - 815,256 913,250 Dobne] oanper Sion due tFplo} 1.%9,967 - - 1,046,0 1,215,M3 Dednddrerenuet 1,519,471 401574 6)3,006 %%7 - - 2.0MM 2,M 207 Tocol MUM. 2.239,711 601,1300 7W,920 53,382 53428.750 5%,450 2.124,777 - 17,557,702 ))638282 8419),)% Ewlty and omM Redte: Itveaynem In Benemlload eseery 14,172.520 - 14,1)2520 10639351 ConTWtY®pml - - - - 17594.945 - - - - 17,394945 143]0,)45 Reteired eanirya'. Reserved 283]3 283]3 26667 unmeery i _ _ _ _ (2%,021) 2924,406 _ - _ 2.%8.3177 1.70,W7 Fund Ee6nws: Reserved 2,040,898 5%,968 2.%9 494 6,49),219 - - - - - 12051587 1,831,742 urwo e,od 3,418,91 3529,115 - (1,236814 5]4O.W2 5 M5,301 Toll other vad'b 5,489,129 4,W3WI 2959,494 5,220,415 17,167257 2924,408 14.172520 52058304 46]40833 Tocol b fies, equity and alar dre 5].)28,840 54687,681 53667.414 5883 M $)0.59801) 535238M 52124�Tn $14,172520 517,557,702 $InII25% 5110,538,5% THE NOTES TO THE FINANCIAI- STATEMENTS ARE AN INTEGRAL PNPTOFTH6 STATEM ENT. • 1 � 1 1 l 1 1 1 1 1 \ f 1 \ I e \ 1 - THE NOTES 10 THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. ll City of Cape Girardeau, Missouri f COMBINED STATEMENT OF REVENUES, EXPENDITURES AND V CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1996 c r GOVERNMENTAL FUND TYPES TOTALS ` SPECIAL DEBT CAPITAL (MEMORANDUM r GENERAL REVENUE SERVICE PROJECTS ONLY) REVENUES Taxes $10,060,772 $3,888,056 $298,749 $- $14,247,577 r Licenses and Permits 892,038 - - - 892,038 Intergoemmental 782,450 1,494,070 8,468 2,757,445 5,042,433 Charges for services 294,997 358,933 - - 653,930 ` Interdepartmental services 472,959 - - - 472,959 r Fines add forfeitures 553,214 - - _ 553,214 Miscellaneous 303,376 118,233 7,047 _ 422,656 Interest 274,841 202,869 227,775 327,293 1,026,778 Special assessments 1,068 - 70,889 34,896 106,853 TOTAL REVENUES 13,635,715 6,062,161 6lX),928 3,179,634 23,418,438 r EXPENDITURES Current L, Administrative services 1,212,679 1,095,127 - - 2,307,806 Development services 1308,929 26,920 - - 1,335849 r Parks and recreation 1,021,515 695,833 - - 1,717,348 Pudic safety 6,924,682 127,446 - - 7,052,128 r Publicworks 1,539,348 180,994 - - 1,720342 Contingency 596,916 - - - 596,916 W Capital outlay - - - 5,530,020 5,530,020 Deft service Principal - 11,878 2,042,769 - 2,054,647 Interest and fiscal charges 76 6,931 898,546 15,681 921,234 r TOTAL EXPENDITURES 04 12,6,145 2,145,129 2,941,315 5,545,701 23,236,290 e EXCESS (DEFICIENCY) OF REVENUES r OVER (UNDER) EXPENDITURES 1,031,570 3,917,0322( 340,387) 2,426,067 182,148 OTHER FINANCING SOURCES (USES) Operating transfers in 820,735 863,000 2,392,000 1,239,440 5,315,175 •' Operating transfers out (1,654,140) (3,357,500) - (175,035) (5,186,675) Proceeds horn fixed assets 10,264 - 10264 TOTAL OTHER FINANCING SOURCES (USES) 8211 2,494,500 2,392,000 1,064,405 138,764 ? EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES ` OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES 208,429 1,422,532 51,613 (1,361,662) 320,912 r FUND BALANCES, JULY 1 5,349,300 2,677,785 2,907,881 6,622077 17,557,043 PRIOR PERIOD ADJUSTMENT - (6$600) _ {17,2_ - (85,836) FUND BALANCES, JUNE 30 $y489129 $4083081 $2959494 $5,260415 $17792119 r r - THE NOTES 10 THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. ll City of Cape Girardeau, Missouri •• COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (BUDGET BASIS) - GENERAL AND SPECIAL REVENUE FUND TYPES FOR THE FISCAL YEAR ENDED JUNE M. 19% GENERAL FUND SPECIAL REVENUE FUNDS VARIANCE VARIANCE FAVORABLE FAVORABLE HUDGEI 11GI.UAL (UNEAVORAUAE) BUDGET ACTUAL (UNFAVORABLE) RLVENUES Taxes $9,989,500 $10,06,772 $71,272 $2621450 $3,886,056 31,266,606 licenses end permits 852,500 892038 39,538 - - - Intorgove M.lN 26,000 782450 517,450 1,397.575 1494,070 96,495 Charges for urmces 297,835 294,997 (2838) 3 ,700 358.933 (1,767) .. leterdepertrnental urnces 514,000 48,959 (41,041) - - - Fineseldbrf.Meae 48.5,000 553,214 611,214 - - - Miwelaeeous 12x,460 303,376 173,916 124,250 118,233 (6,017) Interest 230,500 274841 44,341 1M,650 202869 62219 Specw assesenents 1rG68 1.068 __ _____ •• TOTAL REVENUES 12763795 13,635715 871,920 4.624,625_ -6,062,161 1,437.536 EXPENDFLURES Current Admnistratrve unites 1,383081 1217,539 16,542 1204,762 913,267 291.515 D crelopnnent unites 1,262.072 1,305,414 (43,342) 33420 26,920 6,500 Parksandrecreaoon 1042,120 1,017,559 24,561 79.039 711400 15,639 Pudic ufety 6,926,Ts 6,927743 (11015) 145188 19.41 18,147 ••' W6ic.,ks 1775,317 1,62366 146,711 951,300 645,578 305,722 Centngency 540,000 596,916- Debl service Pmoipol - - - - 11,878 (11,878) •� Intemstmd6scelcher9ee 125 76 49 9,550 6931 2,619 TOTAL EXPENDITURES 12929,443 12693,853 235,590 3.071 279 2,443,015 628,264 EXCESS (DEFICIENCY) OF REVENUES ••' OVER(UNDER EXPENDITURES (165,648) 941,862 1,107,510 _1553346 3,619,146 2D6,800 OI HER FINANCING SOURCES (USES) Operating Lenders in 921,735 87,735 (1001000) 742.500 863.000 137,500 Operating tran9.es.tA (1,891500) (1,654,140) 237,360 (3,357,500) (3.357.500) - Procced;fmmfxedessets 7,500 10,264 2764 - - - TOTAL OTHER FINANCING SOURCES _ (963.265) (823.141) 14,124 (2615,007) (2494,500) 120,500 (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND •� OTHER FINANCING USES (1,128,913) 118,721 1,247,634 (1,061.654) 1,124,646 218,300 FUND BALANCES, JULY 1 5,306,501 5,30,501 - 2.432666 2,432,866 - PRIORPERIODADJUSTMENT (681600) (68,600) (17,236) (17,236)- - FUND BALANCES, JUNE 30 $4108988 $5356622 $1247634 $1353976 $3540276 $ 12y300 THE NOTES TO TF1 FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT. 12 _ City of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES, EXPENDITURES AND f CHANGES IN FUND BALANCES BUDGET AND ACTUAL (BUDGET BASIS) - DEBT SERVICE AND CAPITAL PROJECTS FUND TYPES FOR THE FISCAL YEAR ENDED JUNE W. 19% THE NOTES TO THE FINANGAL STATEMENTS ARE AN INTEGRAL PARI OF THIS STATEMENT. 13 DEBTSERVICEFUND CAPITAL PROJECTS FUNDS VARIANCE VARIANCE FAVORABLE FAVORABLE ` BUDGET ACTUAL IUNEAVORABI.EI auyo ET ACTUAL AJNFAVORAI31 El REVENUES Tates $98,400 $98,749 $10,349 $- $- $_ Intergowmmmtol 8,125 8,468 343 3,121 ]40 2,]5],445 (364,295) i Miuelmeous - 1,047 1,047 - - _ Interest 165,925 221]]5 3$850 157,000 327,293 1]0,293 Special ms se mts 75, 0 70,889 (4,111) 26,000 34,8% 8,896 'r TOTAL REVENUES _557,450 600,928 43,478 3,304,]40 3,119,634 (16$106) EXPENDITURES CeptN ONla/ - - - 101316.53(1 9,2]5,6]0 1,042,860 NN eeMee Pmcipel 2,054,&10 2042.769 12,061 - - _ Interestmdfiuel charges 912045 898,546 13,499 1,500 15,681 114,181) e TOTAL EXPENDITURES 2966,8)5 2941,315 25,560 10,320,030 9,91,351 1,028,679 EXCESS (DEFICIENCY) OF REVENUES OVER(UNOEFQ EXPENDITURES (2,409,425) (2340,387) 69.038 (7A15,290) (6,1]1,]17) 843,573 OTHER FINANCING SOURCES (USES) ` Operating transfers in 2392000 2392000 - 1,597,300 1,239,440 (357,860) OperNing tmdersoO - - )175,035) (175035) TOTAL OTHER FINANCING SOURCES (USES) 2392000 2392500 0 1422,265 1,064,405 135],860) EXCESS (DEFICIENCY) OF REVENUES € AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES (17,425) 51,613 69,038 (5,593,025) )5,107,312) 485.713 FUND BALANCES, JULY 1 2907,M4 2907,881 6.292037 6,92037 FUND BALANCES, JUNE 30 02890456 $2959494 $%8036 $ 9,012 $1184725 $485.713 1 r THE NOTES TO THE FINANGAL STATEMENTS ARE AN INTEGRAL PARI OF THIS STATEMENT. 13 City of Cape Girardeau, Missouri COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1996 TOTALS (MEMORANDUM ONLY( .� 1995-1996 $5,197,716 2,502,566 968,751 8,116 65,064 349,256 24,063 261,907 2,841,096 62.962 12,281,497 OPERATING EXPENSES PROPRIETARY FUND TYPES Personnel servces INTERNAL 541,788 ENTERPRISE SERVICE OPERATING REVENUES 265,839 573,152 Residential chargee $5,197,716 $_ Commercial charges 2,502,566 - Transfer station charges 968,751 - Equipment sees 8,116 - Concession revenues 65,064 - Golf course fees 349,2% - Softballcomplexfees 24,063 - Otherfeesandcharge. 261,907 - Interdepertmental services - 2,841,096 Other miscellaneous 50.679 12,283 TOTAL OPERATING REVENUES 9,428,118 2,853,379 TOTALS (MEMORANDUM ONLY( .� 1995-1996 $5,197,716 2,502,566 968,751 8,116 65,064 349,256 24,063 261,907 2,841,096 62.962 12,281,497 OPERATING EXPENSES Personnel servces 1,942,047 541,788 2,483,835 Mmenalsend supplies 307,313 265,839 573,152 Contractual services 3,614,342 1,566,453 5,182,795 General operating expenses 262,729 1,420 264,149 Special projects expense 216,604 - 216,604 Internal service expenses 351,692 3,063 354,755 Depreciation expense 1,351,876 143,682 1,495,558 TOTAL OPERATING EXPENSES 8,046,603 2,524,245 10,570,848 OPERATING INCOME (LOSS) 1,381,515 329,134 1,710,649 NON-OPERATING REVENUES (EXPENSES) Interest income 1,251,275 136,459 1,387,734 State grants 2,707 - 2,707 Federal grants 15,133 - 15,133 Sale of fixed.... is 111,935 57 111,992 Compensation for damages 8,881 - 8,881 Gain on sale of securities 3,478 - 3,478 Issuance cod amortization (79,655) - (79,655) Interest and handling casts (2,107,170) (2,223) (2,109,393) TOTAL NON-OPERATING REVENUES (EXPENSES) (793,416) 1341293 (659,123) INCOME (LOSS) BEFORE OPERATING TRANSFERS 588,099 463.427 1,051,526 Operating transfers In 45,000 - 45,000 Operating transfers out - (173,500) (173,500) NET INCOME (LOSS) 633,099 289,927 923,026 RETAINED EARNINGS (DEFICIT), JULY 1 _ 860,78 2,634,481 1,773.694 RETAINED EARNINGS (DEFICIT), JUNE 30 ($227680) $y924408 $2696720_ THE NOTES TO THE FINANCIAL STATEM ENTS ARE AN INTEG RAL PART OF THIS STATEMENT. 14 City cfCape Girardeau, Missouri COMBINED STATEMENT OF CASH FLOWS - ALL PRO PNIETARY FUND TYPES FOR THE FISCAL YEAR ENDED JUNE 30, 1596 PRO PHI UAW FUND TYPES TOTALS INTERNAL (MEMORANDUM ONLY) ENTERPRISE SERVICE 1995-1996 CASH FLOWS FROM OPERATING ACTIVITIES: Operating Income (lass) $1,381,515 $329,135 21]10,650 Adjustments to reconcile operating income b ma cash provided by.,riatin,—hootice Depreclmian 1251876 143,662 1.495.558 Ces h.pasting yens received 17,840 - 17,640 Change 1. ...Me and IebllNes: (Incrms e) decrease In accounts receinssble (277,087) (16.046) (293.133) (Increase) decrease in Inventory 47,381 (1,049) 46,332 (mares..) decrease m prepald Nem. 12,846 18985 31,831 bro m car (decrease) In accounts payable 193,084 101.001 294,888 In.... (decrease) In accrued liabilities 799,092 SAW 807,252 Increase (decrease) in landfill postclosure care costs (97,992) (97,992) NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 3.429,355 583,871 4,013228 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Operating" reform In tem other funds 45,000 - 45,000 Operates, trmdens out to dha foods (173,500) (173.500) N ET CASH PROVIDED BY (USED IN) NO N CAPITAL FINANCIN G ACTIVITIES 45,000 (173500) (128500) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Roceeds tom deselopem 1651840 - 165,840 Principal paid on revenue bond. (9,181.864) - (9,181.864) Principal paid on lmse purchase bonds (557,231) - (557,231) Principal paid on CO P bonds OIS00O) - (110,000) Principal paid on that obligations (52,519) (235) (52,754) Interest paid on bunds and obligations (1,224,300) (2207) (1,226,50]) Proceeds tom cup8el grants received hom other, emiumd. 290,835 - 290,035 Pvche.a of flied easel. (3]58619) (278690) (4.035.317) Roc arms tom revenue bond. 8.781.015 - 8.701.015 Proc son. tom S RF Ns at. 13,267,80 - 13.267,607 proceeds it.. mleof ease. 167,014 57 167,101 Transfer bond payable - - - Other 9.674 (1,636) 8.038 NFT CASH PROVIDED BY (USED IN) CAPITAL AND RELATED FINANCING ACTIVITIES 7,805.482 (28Q719) 7,524]63 CASH FLOWS FROM INVESTING ACTIVITIES: Puchaae d limmlmenta (2580.112) (50x000) (30110.112) Rmssaatom mleofinveetmen. 3.049.946 85x000 3.899546 )maser on mu¢nmm. 653,543 M,401 996,944 N ET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 1,323,377 493.401 1,816,778 INCREASE (DEC RFASE) IN CASH AND CASH EQUIVALENTS 12,603,214 623,053 13,226.267 CASH AND CASH EQUIVALENTS, JULY 1 15,011,579 1,551$25 17,362801 CASH AN O CASH EQUIVALENTS, JU N E So $20414793 $2174278 530.58901 NONCASH IN VESTING, CAPITAL AND FINAN CING ACTIVITIES: Contdbutnn..I fixed assert. $477,662 - $477,662 THE NOTES TO THE FINANCIAL STATEM EN TS ANE AN INT EGRAL PART OF THIS STATEN ENT. � l5 THIS PAGE INTENTIONALLY LEFT' BLANK. 16 I I A i A I NOTES TO THE FINANCIAL STATEMENTS 17 THIS PAGE INTENTIONALLY LEFT BLANK. 18 .. City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 P NOTE. A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Cape Girardeau, Missouri operates wider a charter wldclt went into effect April 12, 1982- The City operates under a Council -Manager form of government and provides the following r 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. r 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 describer) below. 1. Reporti g Enter h) 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 which is part of the City's operations and so the financial statements of the CGPFA are included in the accompanying financial statements of the City of Cape Girardeau. f Cace ('airardeau (Missouri) Public Facilities Authority - As described in Note F., the City of Cape Girardeau, Missouri has entered into fou lease agreements with the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The CGPFA is a not-for-profit corporation organized and existing under Chapter 355 of the Revised Statues of Missouri. The CGPFA board of directors consist of city officials and city council members Due to the significant city influence and financial accountability, the activities of the CGPFA are blended with the financial presentation of the City. The corporation was used to execute the band indentures for the purpose of issuing and securing the Series 19908 Bonds, Series 1993 Bonds, and limited additional bonds. These bonds were used to finance construction and improvements to sewer, solid waste, street, airport, flood control and other capital improvement projects. The bond payments are obligations of the CGPFA. The CGPFA has entered into a Lease Purchase Agreement with the City from which the lease payments will be used solely to retire the debt. Although they are not a component unit of the City, the City handles the funds of and provides accounting and other services for several entities. Since these funds are held in the City's name, these entities are shown as Agency Funds in the financial statements. 19 0 W City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 1. Retorting Entitv - Continued Beginning January 1, 1996 the Transportation Sales Tax Trust Fund was established as a special ._ revenue fund. The fund was established to collect and expend a sales tax that was approved by a public vote in August 1995 and became effective January t, 1996. The tax is restricted to being expended on street and sidewalk improvements and will expire in five years. .- 2. Fund Accounting The accounts of the City are organized on the basis of fiords and account groups, each of which is considered a separate accounting entity. The operations of each fiord are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into fund categories. GOVERNMENTAL FUND TYPES General Fund - The General Fund is the general operating fund of the City. All financial resources, except those required to be accounted for in another fund, are accounted for in the General Fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of _ specific revenue sources (other than expendable trust or major capital projects) that are legally restricted to expenditures for specified purposes. Debt Service Fund - The Debt Service fund is used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs. _ Capital Projects Funds - Capital Projects Funds account for financial resources to be used for the acquisition or construction of major capital facilities, which are not financed by Proprietary Funds and Trust Funds. 20 ` City of Cape Girardeau, Missouri r NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued r 2. Fund Accounting - Continued PROPRIETARY FUND TYPES The City has implemented GASB 20 (Accounting and Financial Reporting for Proprietary Funds and .. Other Governmental Entities that use Proprietary Fund Accounting) by choosing to apply the accounting principles in (1) all GASB pronouncements and (2) FASB (Financial Accounting Standards Board) Statements and Interpretations, APB (Accounting Principles Board) Opinions, and ARBs (Accounting Research Bulletins) issued on or before November 30, 1989, except those that conflict with a GASB pronouncement. Enterprise Funds - Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs (expenses including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or where the governing body has decided that periodic determination of revenues collected, expenses paid, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. Internal Service Funds - Internal Service Funds are used to account for the financing of ` goods or services provided by one department to other departments of the City, on a cost - reimbursement basis. FIDUCIARY FUNDS ` Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, otter r governments, and /or other funds. Agency Funds are custodial in nature and do not involve measurement of results of operations. GENERAL FIXED ASSETS AND GENERAL LONG-TERM DEBT ACCOUNT GROUPS General Fixed Assets (GFA) - The General Fixed Assets Account Group is used to account for fixed assets used in governmental fund type operations for control purposes. All fixed r. assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date of donation. Depreciation is recorded on general fixed assets. General Long -Term Debt Account Group - The General Long -Term Debt Account Group ' is used to account for long-term liabilities to be financed from governmental funds. 21 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 .- NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 3. Fixed Assets General Fixed Assets Account Group - Fixed assets used in governmental fund type operations are accounted for in the General Fixed Assets Group of Accounts, rather than in governmental funds. Public domain (infrastructure) general fixed assets, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems, are not capitalized along with other general fixed assets. Depreciation has been provided on all capitalized assets, except for land. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated assets are valued at their estimated fair value on the date donated. Repairs and maintenance are recorded as expenditures; renewals and betterments are capitalized. Proprietary Fonds - Additions to the Proprietary Funds are recorded at cost or, if contributed - property, at thew estimated fair value at time of contribution. Repairs and maintenance are recorded as expenses; renewals and betterments are capitalized. The sale or disposal of fixed assets is recorded by removing cost and accumulated depreciation from the accounts and charging the resulting gain or loss to income. Depreciation of all exhaustible fixed assets used by Proprietary Funds is charged as an expense against their operations. Accumulated depreciation is reported on Proprietary Fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight-line method. The •- estimated useful lives are as follows. Buildings 25-50 years Improvements 10-40 years Equipment 3-10 years When applicable, interest costs are capitalized on self -constructed fixed assets. 4. Basis of Accounting The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. 22 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS .. lune 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 4. Basis of Accounting - Continued All proprietary funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation of these funds are included on the balance sheet. Fund equity (i.e., net total assets) is segregated into contributed capital and retained eamings components. Proprietary fund type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. ` The modified accrual basis of accounting is used by all governmental fund types and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available.) "Measurable` means the amount of the ` transaction can be determined and "available' means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The City considers revenue to be available if it is collected within 30 days after year-end. r Expenditures are recorded when the related fund liability is incurred. Principal and interest on long- term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Those revenues susceptible to accrual are property taxes, franchise taxes, special assessments, licenses, interest revenue and charges for services. Sales taxes collected and held by the state at year-end on behalf of the City also are recognized as revenue. Fines and permit revenues are not susceptible to accrual because generally they are not measurable until received in cash. The accrual basis of accounting is utilized by proprietary funds. Under this method, revenues are W. recorded when earned and expenses are recorded at the time liabilities are incurred. The City reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable' and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received by the City before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the City has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. S. 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 govemmental funds are reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be carried forward and honored during the subsequent year. Encumbrances outstanding in the proprietary funds do not constitute expenses but will be honored in the subsequent year. 23 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 6. Budgets and Budgetary Accounting The City adopts annual operating budgets for all funds. The City follows these procedures in establishing the budgetary data reflected in the financial statements. 1. The City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means of financing them. 2. Public hearings are conducted to obtain taxpayer comments. 3. Prior to July 1, the budget is legally enacted through passage of an ordinance. 4. The City Manager is authorized to transfer budgeted amounts between programs within any department, however, any revisions that alter the total appropriations of any department must be approved by the City Council. Departments may not legally exceed their appropriations without approval from the City Council. Appropriations expire at the end of the year, however, outstanding encumbrances at the end of the year are honored by the City. 5. Formal budgetary integration is employed as a management control device during the year for all funds. 6. Budgets for all funds are adopted on a budgetary basis. Additional budget appropriations by department made throughout the year are as follows: Administrative services $ 1,300 Internal services 162,147 Contingency 490,000 Transportation Sales Tax Trust Fund 700,000 Public works 302.750 $ 1.656.197 Of the above appropriations, $1,300 was allocated for the purchase of a character generator for the public access channel, $162,147 for installation of new computer hardware and software for the Police Department, $77,750 for the purchase of a recycling truck, $100,000 for developer related capital improvements in the Water Fund, $12.5,000 for additional contract solid waste disposal costs at the city's transfer station, $165,000 for costs associated with the 1995 Flood, $325,000 for costs associated with a grant funded flood buyout and relocation programs, and $700,000 for street improvement projects related to a transportation sales tax that went into effect January 1, 1996. 24 City of Cape Girardeau, Missouri P NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued r 6. Budzets and Budgetary Accounting - Continued r For the year ended June 30, 1996 general fund expenditures for developmental services, public safety, and contingent expenditures exceeded the approved budget by $43,342, $1,015, and $56,916 respectively. Additionally, the general capital improvement, park improvement, solid waste, and r employee fringe benefit funds exceeded their approved budgets by $1,124,304, $6,078, $116,059, and $426,137 respectively. r The Combined Statement of Revenues, Expenditures, and Changes in Fund Balance -All Governmental Fund Types reports revenues and expenditures on the modified accrual basis of accounting in accordance with GAAP. The Combined Statement of Revenues, Expenditures, and Changes in Fund Balance -Budget and Actual (Budget Basis) for all governmental fund types is prepared on a budgetary basis which includes encumbrances as expenditures. 25 The following reconciliation adjusts GAAP basis to budget basis: Excess (Deficiency) of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses Special Debt Capital General Revenue Service Projects ` GAAP Basis $ 208,429 $ 1,422,532 $ 51,613 $ (1,361,622) Increase due to: Prior year encumbrances 42,799 244,919 - 330,040 r Decrease due to: c: Year-end encumbrances Administrative services 4,860 790 Development services 260 Parks and recreation 14,899 27,264 Public safety 8,134 2,345 Public works 104,354 512,406 - Capital outlay 4.075.690 r 132,507 542,805 4.075.690 Budget Basis LIM 721 $ 1.124.646 51 613 $ (5.107.3121 25 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 6. Budgets and Budgetary Accountine - Continued The individual proprietary schedules of comparing budget to actual is reported on a budgetary basis that uses the modified acemal basis of accounting with the exception of encumbrances. Encumbrances are reported as expenses in the year of encumbrance. 26 Net Income (Loss) Solid Golf Softball Sewer Water Waste Course Complex GAAP Basis $ 241,180 $ 233,118 $ 243,338 $ 39,842 $ (124,379) Increase due to: Prior year encumbrances 12,900 735 2,525 543 772 Depreciation 744,078 345,323 205,167 52,476 4,832 Capital giants 56,017 251,463 Impact fees 165,840 Net bond proceeds 13,233,628 8,713,210 Cash contributed capital 18,897 Interest paid less than accmal 713,829 Issuance cost amortization 46,790 22,812 10,053 14,973,082 9,352,440 217,745 53,01 5.604 Decrease due to: Year-end encumbrances Materials and supplies 25 1,933 298 1,112 2,500 Contractual services 186 3,921 1,123 400 Special projects expenses 28,751 4,794 Capital outlays 2,365,572 99,135 160,257 Landfill closure and maintenance costs 112,018 Interest paid more than accrual 11,352 4,436 Bond principal paid 663,585 305,000 168,646 Capital outlays 2,800,948 177,638 83,907 26,596 Payment to escrow agent 8,711,864 5,859,067 9,830 945 629.210 85.019 29,496 Budget Basis L_9, $L245_3871 $ (168,127) 7 842 $ (148,271) 26 ` City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 6. Budeets and Budeetary Accounting - Continued Vested or accumulated vacation pay for proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. Amounts of vested or accumulated vacation leave of govemmental funds that are not expected to be liquidated within the current year are reported in W the general long-term debt account group. Employees may accumulate up to 30 days vacation, for which they are compensated upon termination or retirement. Employees are not compensated for f accumulated sick leave upon termination or retirement. r 9. Bond Discounts/Issuance Costs ,. in governmental fiord types, bond discounts and issuance costs are recognized in the current period. Bond discounts and issuance costs for proprietary fund types are deferred and amortized over the term of the bonds. Bond discounts are presented as a reduction of the face amount of bonds payable .. whewas issuance costs are recorded as deferred charges. 27 Net Income (Loss) Data Elect Processing Manaeement GAAP Basis $ 10,544 $ 201 Increase due to: Prior year encumbrances 360 119 �. Depreciation 113,384 30.298 113.744 30.417 r Decrease due to: Capital Outlays 219,048 57,650 ' Yearcnd encumbrances +� Materials and supplies 222 Contractual services 1,595 Capital outlays 13341 4,450 232.189 63.917 Budget Basis $ (107.901) $ (33.299) 7. Inventories Inventories consist primarily of supplies, valued at cost, which approximates market. Cost is determined using a weighted average method. The cost of inventories is recorded as expenditures ,.. or expenses when consumed rather than when purchased. ` 8. Compensated Absences Vested or accumulated vacation pay for proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. Amounts of vested or accumulated vacation leave of govemmental funds that are not expected to be liquidated within the current year are reported in W the general long-term debt account group. Employees may accumulate up to 30 days vacation, for which they are compensated upon termination or retirement. Employees are not compensated for f accumulated sick leave upon termination or retirement. r 9. Bond Discounts/Issuance Costs ,. in governmental fiord types, bond discounts and issuance costs are recognized in the current period. Bond discounts and issuance costs for proprietary fund types are deferred and amortized over the term of the bonds. Bond discounts are presented as a reduction of the face amount of bonds payable .. whewas issuance costs are recorded as deferred charges. 27 City of Cape Girardeau, Missouri .. NOTES TO FINANCIAL STATEMENTS June 30, 1996 ._ NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 10. Total Columns - Memorandum Only Total Columns are captioned "Memorandum Only" to indicate that they are presented only to -„ facilitate financial analysis. Data in these columns do not present results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. hnerfund eliminations have not been [Wade in the aggregation of this data. 11. Cash and Cash Equivalents For purposes of the statement of cash Flows, the proprietary fund types consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. ._ 12. Comparative Data Comparative totals for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, presentation of prior year totals by fund type have not been presented in each of the - statements since their inclusion would make the statements unduly complex and difficult to read. 13. Prepaid Items Payments made to vendors for services that will benefit periods beyond June 30, 1996 are recorded as prepaid items. 14. Restricted Assets Certain proceeds of enterprise fund revenue bonds, as well as certain resources set aside for the repayment of such bonds, are classified as restricted assets on the balance sheet because their use is limited by applicable bond covenants. The "revenue bond construction" account is used to report '- those proceeds of revenue bond issuances that are restricted for use in construction. The "revenue bond current debt service" account is used to report resources set aside to make up potential future deficiencies in the revenue bond current debt service account. 15. lune -term Obligations Long-term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year, For other Tong -term obligations, only that portion expected to be financed from expendable available financial resources is reported as a hind liability of a governmental fund. The remaining Portion of such obligations is reported in the general long-term debt account group. Long-term liabilities expected to be financed from proprietary fund operations are accounted for in the appropriate proprietary fund. i� City of Cape Girardeau, Missouri r NOTES TO FINANCIAL STATEMENTS ` June 30, 1996 NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued 16. Interfund Transactions Quasi-extemal transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions, except quasi-extemal transactions and reimbursements, are reported i„ as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. r. 17. Short-term Interfund 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 "due from other funds' or "due to other funds" on the balance sheet. Short-term interfund loans are classified as 1 "interfund receivables/payables". 18. Advances to Other Funds r Noncurrent portions of long-term interfund loan receivables are reported as advances and are offset equally by a fund balance reserve account which indicates that they do not constitute expendable r available financial resources and therefore are not available for appropriation. r �. 19. Post -Employment Health Care Benefits ` In addition to the pension benefits described in Note H, it is the City's policy to provide postretirement health care benefits to employees who retire from the City with five or more years of service and who are eligible for LAGERS retirement (Note H). Currently, twenty-two employees ` meet those eligibility requirements. The City provides health care coverage for them until age 65. The cost of retirees health care benefits is recognized as an expenditure as premiums are paid. For 1996, those costs totaled $29,668. COBRA Benefits - Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the City provides health care benefits to eligible former employees and eligible dependents. Certain requirements are outlined by the federal government for this coverage. The premium is paid in full by the insured on or before lie tenth (10th) day of the month for the actual month covered. This program is offered for a duration of 18 months after the tennination date. There is no associated cost to the City under this program, and there was one participant in the program as of June 30, ' 1996. r 29 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 -„ NOTE E - DEPOSITS AND INVESTMENTS 1. Deposits At lune 30, 1996, the carrying amount of the City's deposits was $2,991,413 and the bank balance was $2,986,728 which excludes $4,685 of petty cash funds held at various City locations. The deposits are categorized in accordance with risk factors created by governmental reporting standards. Carrying Bank Amount Balance Category #1 $ 2,851,211 $ 2,851,211 Category #2 140,202 135,517 Category #3 - - L122_14_13 RIM 728 •— Category #1 includes deposits covered by deposit insurance or collateral held by the City in the City's name. •— Category #2 includes deposits covered by collateral held by the financial institution's tmst department in the City's name. Category #3 includes deposits which are uncollateralized or the collateral is held by the financial institution's trust department but not in the City's name. 2. Investments The City is allowed to invest its available operating and reserve funds in (1) obligations of the United States or its agencies and instrumentalities; (2) repurchase agreements collateralized by securities listed in (1) above, documented by a written agreement, fully collateralized by delivery to an independent third party custodian, and are marked -to -market; (3) Insured or collateralized deposits or certificates of deposit of banks, savings and loan associations, and other regulated financial institutions; (4) money market mutual funds whose portfolio consists of the foregoing instruments; and (5) other prudent investment instruments approved prior to purchase by a two-thirds majority of the City Council Investments are stated at cost or amortized cost, except for investments in the deferred compensation agency fund which are reported at market value. proceeds of bond issues may be invested as allowed in the bond indenture. %] City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE B - DEPOSITS AND INVESTMENTS - Continued 2. Investments - Continued Investments made by the City are summarized below. The investments that are represented by specific identifiable investment securities are classified as to credit risk by the three categories described below: Category #1 Insured or registered, or securities held by the City or its agent in the City�s time. Category #2 Uninsured and unregistered, with securities held by the counter -party's trust department or agent in the City's name. Category #3 Uninsured and unregistered, with securities held by the counter -party, or by its trust department or agent but not in the City's name. 31 $ 47.942,097 $ 47.837,696 Category Carrying Market #1 #2 #3 Value Value Repurchase Agreements $ 2,672,400 $ - $ - $ 2,672,400 $ 2,672,400 U.S. Government Securities 15,204,562 15,204,562 15,100,161 $ 17,876.962 $ - $ - 17,876,962 17,772,561 Money Market Account U.S. Government Securities 4,316,854 4,316,854 State Revolving Fund Program 24,149,294 24,149,294 Investments in Deferred Compensation Plan 1,598,987 1,598,987 31 $ 47.942,097 $ 47.837,696 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE C - PROPERTY TAXES Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on August 21, 1995, for collection during this fiscal year and were due on or before December 31. Most of the taxes are collected in November and December. The tax rates assessed at the time were as follows: City Revenue $ .32/100.00 assessed valuation 4,037,365 Library Tax .16/100.00 assessed valuation 5,272 - Public Health Tax .05/100.00 assessed valuation 1,053,493 Debt Service Tax .10/100.00 assessed valuation $ 4 216 64.590 000 Special Business District .80/100.00 assessed valuation #2 (Ad Valorem) Property tax receivable balances as of lune 30, 1996 are as follows: Downtown Business Debt General District Health Service Library Total Current property tax $ 27,298 $ 2,226 $ 4,200 $ 8,557 $ 13,126 $ 55,407 Delinquent property tax 31,420 976 4,515 10,090 14,147 61,148 Reserve for doubtful property taxes1( 7,740) (85)2( 3301 (5,784) U92) (34,131 Net property tax receivables 40,978 3,117 6 385 12,863 LL9 081 LK 424 NOTE D - CHANGES IN FIXED ASSETS A summary of the general fixed assets account group for the year ended lune 30, 1996 is as follows: land Buildings Improvements other than building Equipment Construction in progress Total general fixed assets Balance Accumulated Balance July I, 1995 Additions Deductions Depredation Jure 30 1996 $ 2,073,938 $ - $ - 4,037,365 28,001 2,198,958 5,272 - 1,275,596 739,327 90,000 1,053,493 3,444.045 $ 10 639,350 $ 4 216 64.590 000 32 $ - $ 2,073,938 211,775 3,853,591 143,152 2,061,078 238,548 1,686,375 - 4.497.538 593,475 $ 14,172,52( City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE D - CHANGES IN FIXED ASSETS - Continued Additions and deletions to the Enterprise Funds for the fiscal year 1996 were $4,236,279 and $503,892 respectively. Additions and deletions to the Internal Service Funds were $276,699 and $ 0 respectively. General A summary of the proprietary fund type fixed assets for the year ended June 30, 1996 is as follows: Enterprise Internal Obligation Fund Service Fund Land $ 248,109 $ 37,500 Buildings 9,084,673 416,109 Improvements other Leave Governments than building 30,120,736 27,206 Equipment 3,274,665 1,255,590 Construction in progress 4.688.549 77.697 $ 47,416,732 $ 1,814,102 Less accumulated depreciation 12,339,810 935.151 $3,460,000 $ 35,076.922 L 8789 .51 NOTE E - LONG-TERM OBLIGATIONS The following is a summary of transactions in the General Long-term Debt Account Group of the City for the year ended June 30, 1996. 33 General l.eaachold Certificates Obligation Revenue of Unused Paid Due to Other Bonds Bonds Participation Leave Governments Total General longterm debt payable at July 1, 1995 $3,690,000 $ 11,822,639 $3,460,000 $ 542,349 $ 81,841 $19,596,829 Bonds Retired (300,000) (1,607,769) (135,000) - - (2,042,769) Amount Added 3,(42 3.642 General long-term debt payable at June 30, 1996 $3,390,000 $ 10 214 870 ILL25 000 $545,991 81 841$17 557 702 33 City of Cape Gimrdeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued The following is a summary of bond transactions in the Enterprise Fund of the City for the year ended June 30, 1996. Bonds payable at June 30, 1996 are comprised of the following individual issues. $ 3,390,000 1993 General Obligation Refunding Bonds due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 3.75% Leasehold Certificates $ 470,338 1998 Revenue Revenue of 467,738 1999 Bonds Bonds Participation Total Bonds payable at 4.50 355,000 108,488 463,488 July 1, 1995 $ 27,142,022 $ 3,289,421 $ 3,530,000 $ 33,961,443 Discount Amortization 4.90 390,000 73,555 463,555 & Issue Cost 39,936 29,009 - 68,945 Bonds Issued 21,901,566 - - 21,901,566 Accumulating Interest 678,287 - - 678,287 Bonds Retired (8,560,000) (557,231) (110,000) (9,227,231) Bonds payable at June 30, 1996 41,201.811 2,761,199 $ 3,420,000 $ 47,383,010 Bonds payable at June 30, 1996 are comprised of the following individual issues. $ 3,390,000 1993 General Obligation Refunding Bonds due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 3.75% $ 320,000 $ 150,338 $ 470,338 1998 4.00 330,000 137,738 467,738 1999 4.25 345,000 123,806 468,806 2000 4.50 355,000 108,488 463,488 2001 4.70 370,000 91,805 461,805 2(X02 4.90 390,000 73,555 463,555 2003 .5.00 405,000 53,875 458,875 2004 5.00 425,000 33,125 458,125 2006 5.00 450.000 11.250 461.250 _t3 783,98 L4 Principal payments are made annually on November 1, and interest payments are made semi- annually on May I and November 1. 34 K r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS r June 30, 1996 NOTE E - LONG TERM OBLIGATIONS - Continued On April 20, 1993, the City of Cape Girardeau issued $3,690,000 of General Obligation Refunding r Bonds Series 1993 with interest rates varying from 3.75% to 5.50%. The refunding bonds constitute general obligations of the City and are payable as to both principal and interest from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the territorial limits of the City. The refunding bonds were issued to provide the City with funds which together with other legally r available funds of the City, were used to refund $3,580,000 principal amount of General Obligation Refunding Bonds, Series 1987, of the City and pay the costs of issuance of the bonds. These bonds are dated September 1, 1993. The proceeds of the bond issue were used to defease (in -substance) the $1,170,000 1986 Sewerage System Revenue Bonds. Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. 35 $ 1,145.000 Series 1993 Sewerage System Revenue Bonds due as follows: r Year Ending Interest Principal Interest June 30 Rate Due Due Total r 1997 4.200% $ 85,000 $ 57,331 $ 142,331 1998 4.400 90,000 53,761 143,761 1999 4.600 95,000 49,801 144,801 2000 4.800 100,000 45,431 145,431 2001 5.000 110,000 40,631 150,631 2002 5.125 115,000 35,131 150,131 2003 5.250 120,000 29,238 149,238 2004 5.300 135,000 22,938 157,938 2005 5.350 140,000 15,783 155,783 2006 5.350 155.000 8.293 163.293 r L1.145 LIL8 338 L1.5 These bonds are dated September 1, 1993. The proceeds of the bond issue were used to defease (in -substance) the $1,170,000 1986 Sewerage System Revenue Bonds. Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. 35 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 3,465,000 Waterworks System Revenue Bonds Series 1992 due as follows: Year Ending Interest Principal Interest ._ June 30 Rate Due Due Total 1997 5.25% $ 185,000 $ 228,810 $ 413,810 1998 5.50 225,000 219,098 444,098 1999 5.70 27.5,000 206,722 481,722 2000 5.90 320,000 191,048 511,048 2001 6.00 370,000 172,167 542,167 2002 6.10 425,000 149,968 574,968 2003 7.45 485,000 124,042 609,042 .� 2004 7.45 555,000 87,910 642,910 2005 7.45 625,000 46.563 671.563 $ 3.465.000 $ 1,426,328 $ 4.891.328 These bonds are dated April 15, 1992. The proceeds of the bond issue were used to purchase, •— extend and improve the water system serving the City. The purchase of the water system occurred on June 3, 1992. Principal payments are made annually on March 1, and interest payments are made semi- annually on March I and September 1. Additional principal of $8,090,000 originally payable through the fiscal years ending June 30, 2006 to 2012, was defeased via an in -substance defeasance during this fiscal year. 36 City of Cape Girardeau, Missouri r NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 8.935.000 Waterworks System Refunding Revenue Bonds Series 1995 due as follows: Principal payments are made annually on March 1, and interest payments are made semi- annually on March 1 and September 1. On December 1, 1995 the City of Cape Girardeau issued $9,095,000 of Waterworks System Refunding Revenue Bonds Series 1995 with interest rates varying from 3.9% to 5.2%. The bonds are special limited obligations of the City payable solely from the net income and revenues derived by the City from the operation of the Waterworks System after payment of .. costs of operation and maintenance. The bonds were issued to provide the City with funds to defease $8,090,000 principal amount of Waterworks System Revenue Bonds, Series 1992. The City transferred net proceeds of $8,711,864 to Mercantile Bank of St. Louis National Association, St. Louis, Missouri (the ` "Escrow Agent"), for deposit into an Escrow Fund established under an Escrow Trust Agreement dated December 1, 1995 (the "Escrow Trust Agreement") between the City and the Escrow Agent. The proceeds were used to purchase direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America. The refunded bonds shall be payable from the maturing principal of die Escrowed Securities, together with the earnings thereon for the period beginning March 1, 1996, and continuing through March 1, 2002, the date on which the Refunded Bonds will be redeemed. 37 Year Ending Interest Principal Interest June 30 Rate Due Due Total - 1997 3.900% $ 70,000 $ 443,073 $ 513,073 1998 4.100 75.000 440,342 515,342 1999 4.200 80,000 437,268 517,268 2000 4.300 80,000 433,907 513,907 2001 4.400 85,000 430,468 515,468 2002 4.500 90,000 426,727 516,727 2003 4.500 90,000 422,678 512,678 2004 4.600 95,000 418,627 513,627 2005 4.750 100,000 414,258 514,258 2006 4.875 810,000 409,507 1,219,507 2007 5.000 890,000 370,020 1,260,020 2008 5.000 980,000 325,520 1,305,520 ` 2009 5.200 1,010,000 276,520 1,286,520 2010 5.000 1,065,000 224,000 1,289,000 r 2011 5.000 - 1,120,000 170,750 1,290,750 2012 5.000 2.295.000 114 750 2.409.750 r $ 8.935.000 $ 5.758.415 L14 Principal payments are made annually on March 1, and interest payments are made semi- annually on March 1 and September 1. On December 1, 1995 the City of Cape Girardeau issued $9,095,000 of Waterworks System Refunding Revenue Bonds Series 1995 with interest rates varying from 3.9% to 5.2%. The bonds are special limited obligations of the City payable solely from the net income and revenues derived by the City from the operation of the Waterworks System after payment of .. costs of operation and maintenance. The bonds were issued to provide the City with funds to defease $8,090,000 principal amount of Waterworks System Revenue Bonds, Series 1992. The City transferred net proceeds of $8,711,864 to Mercantile Bank of St. Louis National Association, St. Louis, Missouri (the ` "Escrow Agent"), for deposit into an Escrow Fund established under an Escrow Trust Agreement dated December 1, 1995 (the "Escrow Trust Agreement") between the City and the Escrow Agent. The proceeds were used to purchase direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America. The refunded bonds shall be payable from the maturing principal of die Escrowed Securities, together with the earnings thereon for the period beginning March 1, 1996, and continuing through March 1, 2002, the date on which the Refunded Bonds will be redeemed. 37 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 2,365,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1991 due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 5.800% $ 75,000 $ 158,944 $ 233,944 1998 6.000 80,000 154,594 234,594 1999 6.200 80,000 149,794 229,794 •_ 2000 6.300 85,000 144,834 229,834 2001 6.400 95,000 139,479 234,479 2002 6.500 100,000 133,399 233,399 2003 6.600 105,000 126,899 231,899 2004 6.875 110,000 119,969 229,969 2005 6.875 120,000 112,406 232,406 2006 6.875 130,000 104,156 234,156 2007 6.875 135,000 95,219 230,219 2008 6.875 145,000 85,937 230,937 ._ 2009 6.875 155,000 75,969 230,969 2010 6.875 165,000 65,312 230,312 2011 6.875 175,000 53,969 228,969 ._ 2012 6.875 190,000 41,937 231,937 2013 6.875 205,000 28,875 233,875 2014 6.875 215,000 14.781 229.781 •- $ 2,365.000 $ 1.806,473 L4.171.473 These bonds are dated December 1, 1991. The proceeds of the bond issue will be used to extend and improve the existing sewerage facilities serving the City. Principal payments are made annually on June 1, and interest payments are made semi-annually on June I and December 1. The interest due on the 1991 Sewer System Revenue Bonds will be subsidized by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds held by the trustee, the Department of Natural Resources '- deposits an amount equal to approximately 51.907% of the reimbursement into the reserve fund. The maximum amount of funds that will be advanced to the reserve fund will be $1,250,000. As _ Ixmds are paid off 50% of the amount of bonds paid off will be repaid to the Department of Natural Resources out of the reserve fund. T'lte balance of the reserve fund at lune 30, 1996 was $712,798. The reserve fund yields 6.71 %. 38 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS ,. June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued 1485,000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1993 due as follows: These bonds are dated August 1, 1993. The proceeds of the bond issue were used to extend and improve the existing sewerage facilities serving the City. ,. Principal payments are made annually on March 1, and interest payments are made semi-annually on March l and September 1. r The interest due on the 1993 Sewer System Revenue Bonds will be subsidized by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds held by the trustee, the Department of Natural Resources will deposit an amount equal to approximately 70.00% of the reimbursement into the reserve fund. The maximum amount of funds that will be advanced to the reserve fund will be $350,000. As bonds are paid off, 70% of the amount of bonds paid off will be repaid to the Department of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30, 1996 was $339,500. The reserve fund yields 5.15%. 39 Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 3.700% $ 17,000 $ 23,858 $ 40,858 1998 3.900 17,000 23,212 40,212 1999 4.100 18,000 22,511 40,511 2000 4.250 19,000 21,739 40,739 2001 4.400 19,000 20,917 39,917 2002 4.550 20,000 20,044 40,044 2003 4.700 21,000 19,096 40,096 2004 4.800 22,000 18,074 40,074 2005 4.900 23,000 16,983 39,983 2006 5.000 24,000 15,819 39,819 t 2007 5.100 25,000 14,582 39,582 ` 2008 5.200 27,000 13,242 40,242 2009 5.250 28,000 11,805 39,805 2010 5.400 30,000 10,260 40,260 ` 2011 5.400 31,000 8,613 39,613 2012 5.400 33,000 6,885 39,885 ` 2013 5.400 35,000 5,049 40,049 2014 5.400 37,000 3,106 40,106 2015 5.400 39.000 1,053 40.053 485 000 276,848 L761 848 These bonds are dated August 1, 1993. The proceeds of the bond issue were used to extend and improve the existing sewerage facilities serving the City. ,. Principal payments are made annually on March 1, and interest payments are made semi-annually on March l and September 1. r The interest due on the 1993 Sewer System Revenue Bonds will be subsidized by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds held by the trustee, the Department of Natural Resources will deposit an amount equal to approximately 70.00% of the reimbursement into the reserve fund. The maximum amount of funds that will be advanced to the reserve fund will be $350,000. As bonds are paid off, 70% of the amount of bonds paid off will be repaid to the Department of Natural Resources out of the reserve fund. The balance of the reserve fund at June 30, 1996 was $339,500. The reserve fund yields 5.15%. 39 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 11,462,662 Water Pollution Control Revenue Bonds (State Revolving Fund Program) Series V 1995D due as follows: Year Ending Interest Principal Interest - June 30 Rate Due Due Total 1997 1998 4.750% $ 22,226 $ 2,774 $ 25,000 1999 4.850 21,134 3,866 25,000 2000 4.950 20,057 4,943 25,000 2001 5.100 913,209 291,791 1,205,000 2002 5.250 913,677 366,323 1,280,000 ._ 2003 5.300 918,381 441,619 1,360,000 2004 5.400 924,769 530,231 1,455,000 2005 5.500 928,413 626,587 1,555,000 .- 2006 5.650 932,824 742,176 1,675,000 2007 5.750 937,566 862,434 1,800,000 2008 5.850 943,267 996,733 1,940,000- 2009 5.950 946,770 1,143,230 2,090,000 2010 6.050 722,409 992,591 1,715,000 2011 6.100 413,574 636,426 1,050,000 •- 2012 6.150 380,828 654,172 1,035,000 2013 6.150 354,978 670,022 1,025,000 2014 6.200 326,281 683,719 1,010,000- 2015 6.200 303,920 696,080 1,000,000 2016 6.250 278,844 706,156 985,000 2017 6.250 259,535 715,465 975.000 '- $ 11.462,662 $ 11.767.338 $ 23.230.000 'fliese bonds are dated June 1, 1995. The proceeds of the bond issue will be used for the extension and improvement of the existing sewerage system serving the City. Principal and interest payments will be made annually on January 1 beginning in the year 1998. The interest due on the 1995D Water Pollution Control Revenue Bonds will be subsidized by interest earnings on a reserve fund held by the bond issue's trustee. As the City is reimbursed for sewer project expenditures from the construction funds, the Department of Natural Resources will - deposit an amount equal to 70% of the disbursement into the reserve fund. The maximum amount of fiords that will be advanced to the reserve fund will be 70% of the principal amount less the original issue discount. As bonds are paid off 70% of the amount of Kinds will be, repaid to the ., Department of Natural Resources out of the reserve fiord. The balance of the reserve fund at June 30, 1996 was $1,233,424_ 40 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATION - Continued $ 13.535.000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1996 due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 $ 443,777 $ 443,777 1998 760,761 760,761 1999 760,761 760,761 2000 4.500% $ 25,000 760,761 785,761 2001 4.650 25,000 759,636 784,636 2002 4.800 575,000 758,474 1,333,474 2003 4.900 585,000 730,874 1,315,874 2004 5.000 590,000 702,209 1,292,209 2005 5.150 600,000 672,709 1,272,709 2006 5.250 610,000 641,809 1,251,809 2007 5.350 690,000 609,784 1,299,784 2008 5.500 700,000 572,869 1,272,869 2009 5.600 715,000 534,369 1,249,369 2010 5.700 730,000 494,329 1,224,329 2011 5.875 745,000 452,719 1,197,719 2012 5.875 765,000 408,950 1,173,950 2013 5.875 780,000 364,006 1,144,006 2014 5.875 800,000 318,181 1,118,181 2015 5.875 875,000 271,181 1,146,181 2016 5.900 895,000 219,775 1,114,775 2017 5.900 920,000 166,970 1,086,970 2018 5.900 945,000 112,690 1,057,690 2019 5.900 965,000 56.935 1,021,935 $ 13.535,000 L11,574 $ 25,109,529 (hese bonds me dated June 1, 1996. The proceeds of the bond issue will be used for the extension and improvement of the existing sewerage system serving the City. Principal payments will be made annually on January l beginning in the year 2000. Interest is paid setni-annually on January I and July I beginning in the year 1997. 41 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATION - Continued The interest due on the 1996 Sewerage System Revenue Bonds will be subsidized by interest earnings on a reserve fund held by the bond issues trustee. As the City is reimbursed for sewer project expenditures from the construction funds, the Department of Natural Resources will deposit an amount equal to 70% of the disbursement into the reserve fund. The maximum amount of funds that will be advanced to the reserve will be $9,474,500. As bonds are paid off 70% of the amount of bonds will be repaid to the Department of Natural Resources out of the reserve fund. The — balance of the reserve fund at lune 30, 1996 was $0. $ 820,000 Buildingand nd ui ment Leasehold Bonds, Series 1990 B, due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 6.50% $ 65,000 $ 56,052 $ 121,052 1998 6.60 65,000 51,828 116,828 1999 6.70 70,000 47,537 117,537 2000 6.75 75,000 42,847 117,847 2001 6.80 80,000 37,785 117,785 ._ 2002 6.85 80,000 32,345 112,345 2003 6.90 85,000 26,865 111,865 2004 7.00 90,000 21,000 111,000 .- 2005 7.00 210.000 14 700 224300 820 000 330 959 $ 1,150,959 •— The bonds are obligations of the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The CGPFA has entered into a Lease Purchase Agreement with the City of Cape Girardeau, Missouri. Principal and interest will be paid by the CGPFA from rental and other receipts from the City. The purpose of the 19908 Series bonds was to acquire, construct, improve, and repair the '— City's airport facilities. The bond liability for the Series 1990B bonds are recorded in the General Long -Term Debt Account " Group. Principal payments are made annually on March 1, and interest payments are made semi-annually on March 1, and September 1. 42 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued 12,225.000 Building and Equipment Leasehold Refunding & Improvement Revenue Bonds (Capital Improvements Proiect), Series 1993 due as follows: Year Ending Interest Principal Interest June 30 Rate Due Due Total r 1997 4.000% $ 2,195,000 $ 526,600 $ 2,721,600 1998 4.100 2,265,000 438,800 2,703,800 ,. 1999 4.250 2,340,000 345,935 2,685,935 2000 4.400 2,915,000 246,485 3,161,485 2001 4.500 705,000 118,225 823,225 2002 4.625 720,000 86,500 806,500 2003 4.750 420,000 53,200 473,200 2004 5.000 185,000 33,250 218,250 2005 5.000 480.000 24,000 504.000 $ 12 225.000 $ 1.872.995 $ 14,097,995 The bonds are obligations of the Cape Girardeau (Missouri) Public Facilities Authority (CGPFA). The CGPFA has entered into a Lease Purchase Agreement with the City of Cape Girardeau, " Missouri. Principal and interest will be paid by CGPFA from rental and other receipts from the City. The purpose of the bonds was to (1) pay the costs of various street improvements for the City, (2) defease $10,410,000 outstanding principal amount of Building and Equipment Leasehold Revenue Bonds of the Authority and (3) pay the costs of issuance of the Series 1993 Bonds. The bond principal is allocated as follows: $2,415,338 - Sewer Fund; $414,792 - Solid Waste Fund; ` and $9,394,870 - General Long-term Debt Account Group. Principal payments are made annually on March 1 and interest payments are made semi-annually ` on March 1 and September 1. 43 The certificates are obligations of the City of Cape Girardeau, Missouri. Under a Lease Purchase Agreement between the City and the Cape Girardeau (Missouri) Public Facility Authority (the "Corporation"), the Corporation will assign the right to receive rental and other receipts from the ._ City to Union Planters Bank of Cape Girardeau County ( the "Trustee"). The purpose of the 1993 Series certificates is for the acquisition, construction, furnishing, and equipping of a convention and recreational center, softball and soccer fields, and improvements to the City Hall. •— The bond liability for the Series 1993 certificates is recorded in the General Long -Term Debt Account Group. Principal payments are made annually on April 1, and interest payments are made semi -amorally on April I, and October I. 44 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 3.325,000 Certificates of Participation (Convention and Visitors Recreation Facilities Project) Series 1993. Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 4.100% $ 170,000 $ 162,703 $ 332,703 1998 4.300 215,000 155,733 370,733 1999 4.500 255,000 146,488 401,488 2000 4.700 295,000 135,013 430,013 2001 4.800 345,000 121,148 466,148 2002 5.000 400,000 104,588 504,588 2003 5.000 455,000 84,588 539,588 2004 5.125 510,000 61,838 571,838 2005 5.250 680,000 35.700 715,700 3 325 000 1007 799 $ 4,332.799 The certificates are obligations of the City of Cape Girardeau, Missouri. Under a Lease Purchase Agreement between the City and the Cape Girardeau (Missouri) Public Facility Authority (the "Corporation"), the Corporation will assign the right to receive rental and other receipts from the ._ City to Union Planters Bank of Cape Girardeau County ( the "Trustee"). The purpose of the 1993 Series certificates is for the acquisition, construction, furnishing, and equipping of a convention and recreational center, softball and soccer fields, and improvements to the City Hall. •— The bond liability for the Series 1993 certificates is recorded in the General Long -Term Debt Account Group. Principal payments are made annually on April 1, and interest payments are made semi -amorally on April I, and October I. 44 r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued $ 3.420.000 Certificates of Particioation (Twin Lakes Project) Series 1994A Year Ending Interest Principal Interest June 30 Rate Due Due Total 1997 4.400% $ 140,000 $ 178,755 $ 318,755 1998 4.800 240,000 170,155 410,155 1999 4.800 250,000 158,635 408,635 2000 5.000 255,000 146,260 401,260 2001 5.100 260,000 133,255 393,255 2002 5.200 275,000 119,475 394,475 2003 5.350 280,000 104,835 384,835 2004 5.450 290,000 89,443 379,443 2005 5.550 300,000 73,215 373,215 2006 5.650 310,000 56,132 366,132 2007 5.750 600,000 30,125 630,125 2008 5.800 70,000 10,845 80,845 2009 5.850 70,000 6,768 76,768 2010 5.900 80.000 2.360 82.360 $ 3.420.000 $ 1,280.258 4 700 258 The certificates are obligations of the City of Cape Girardeau, Missouri. Under a Lease Purchase Agreement between the City and the Cape Girardeau (Missouri) Public Facilities Authority (the "Corporation"), the Corporation will assign the right to receive rental and other receipts from the City to Union Planters Bank of Cape Girardeau County (the "Trustee"). The purpose of the 1994A Series certificates is to (1) pay the costs of certain improvements to the City's waterworks and sewerage systems and costs associated with the closing of a City waste disposal site, (2) establish a debt service reserve fund for the Series 1994A Certificates, and (3) pay the costs of issuance of the Series 1994A Certificates. The bond liability for the Series 1994A Certificates is recorded in the Sewer, Water, And Solid Waste Funds. Principal payments are made annually on October 1, and interest payments are made semi-annually on April 1 and October I. 45 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE, E - LONG-TERM OBLIGATIONS - Continued The annual requirements to amortize all debt outstanding as of June 30, 1996 including total interest payments of $38,239,260 are as follows: $ 4,173.980 $ 74,360,931 $ 15,248,954 $ 9,033,057 $!02,816,922 The cash available to service Revenue Bonds are $561,609 and $1,215,338 for the Sewer Fund and Water Fund respectively. 46 General Leasehold Certificates Year Ending Obligation Revenue Revenue of June 30 Bonds Bonds Bonds Participation Total 1997 $ 470,338 $ 1,787,793 $ 2,842,652 $ 651,458 $ 5,752,241 1998 467,738 2,163,768 2,820,628 780,888 6,233,022 1999 468,806 2,199,857 2,803,472 810,123 6,282,258 2000 463,488 2,251,720 3,279,332 831,273 6,825,813 2001 461,805 3,472,298 941,010 859,403 5,734,516 2002 463,555 4,128,743 918,845 899,063 6,410,206 2003 458,875 4,218,827 585,065 924,423 6,187,190 2004 458,125 4,331,727 329,250 951,281 6,070,383 2005 461,250 4,441,702 728,700 1,088,915 6,720,567 2006 - 4,583,584 - 366,132 4,949,716 2007 - 4,629,605 - 630,125 5,259,730 2008 - 4,789,568 - 80,845 4,870,413 2009 - 4,896,663 - 76,768 4,973,431 2010 - 4,498,901 - 82,360 4,581,261 2011 - 3,807,051 - - 3,807,051 2012 - 4,890,522 - - 4,890,522 2013 - 2,442,930 - - 2,442,930 2014 - 2,398,068 - - 2,398,068 2015 - 2,186,234 - - 2,186,234 2016 - 2,099,775 - - 2,099,775 2017 - 2,061,970 - - 2,061,970 2018 - 1,057,690 - - 1,057,690 2019 - 1.021.935 - - 1,021,935 $ 4,173.980 $ 74,360,931 $ 15,248,954 $ 9,033,057 $!02,816,922 The cash available to service Revenue Bonds are $561,609 and $1,215,338 for the Sewer Fund and Water Fund respectively. 46 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS r, June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued 'like cash available to service the Leasehold Revenue Bonds in the Enterprise Funds and the General Long-term Debt Account Group are $332,250 and $1,948,942 respectively. The cash available to service the Certificates of Participation in the Enterprise Funds and the General Long-term Debt Account Group are $388,465 and $446,570 respectively. Included in restricted cash on the balance sheet of the Enterprise Funds is $26,755,463 which is the balance in the various project accounts which represent incomplete projects at June 30, 1996. If the project funds are not used, the remaining balance can be applied against debt. The City is in compliance with all significant limitations and restrictions contained in the various bond indentures. During the fiscal year ended June 30, 1994, the City defeased (in -substance) $10,410,000 of CGPFA Bonds and $1,170,000 of Revenue Bonds. In addition, during the fiscal year ended June 30, 1996, the City defeased (in -substance) $8,090,000 of Water Revenue Bonds. New debt was issued and the proceeds have been used to purchase U.S. government securities that were placed in trust funds. The investments and fixed earnings from the investments are sufficient to fully service the defeased debt until the debt is called or matures. For financial reporting purposes, the debt has been considered defeased and therefore removed as a liability on the face of the balance sheets. As of °i June 30, 1996, defeased debt still outstanding consisted of $9,100,000 in the Enterprise Funds. e The cash flow required to service the old debt and that required to service the new debt and ` complete the refunding are as follows: Enterprise Cash Flow Requirements of: Funds Old Debt $ 15,476,280 New Debt $ 14.949.450 Difference $ 526.830 47 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE E - LONG-TERM OBLIGATIONS - Continued The economic gain or loss from the defeasance of this debt is calculated as follows: Present Value of Debt Service Enterprise Requirements: Fundc Old Debt $ 9,129,516 New Debt 8866.508 Economic Gain (Loss) 2631108 NOTE F - CAPITAL LEASE OBLIGATIONS In prior years, the City acquired certain equipment under capital leases. The assets and liabilities under capital leases were recorded at the lower of the present value of the minimum lease payments or die fair value of the asset. The assets are amortized over their estimated productive lives. Current amortization expense is included in depreciation expense. No capital lease obligation existed as of June 30, 1996. NOTE G - DEFICIT FUND BALANCES/RETAINED EARNINGS The following individual funds have deficit fund balances/retained earnings at June 30, 1996, Enterprise Funds Solid Waste Fund $ 721,748 Golf Course Fund 14,541 Softball Complex Fund 166,057 Special Revenue Funds Parks & Recreation 2,753 NOTE H - PENSION PLAN 1. Plan Description The City of Cape Girardeau participates to the Missouri Local Government Employees Retirement System (LAGERS), an agent multiple -employer public employee retirement system that acts as a common investment and administrative agent for local government entities in Missouri. LAGERS is a defined benefit pension plan which provides retirement, disability, and death benefits to plan members and beneficiaries, LAGERS was created and is governed by statute, Section RSMo. 70.600 - 70.755, As such, it is the system's responsibility to administer the law in accordance with the expressed intent of the General Assembly. The plan is qualified under the Internal Revenue Code Section 401A and it is tax exempt. - 48 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE H - PENSION PLAN - Continued 1. Plan Description - Continued The Missouri Local Government Employees Retirement System issues a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by writing to LAGERS, PO Box 1665, Jefferson City, MO 65102 or by calling 1-800- 447-4334. 2. Funding Policy The City of Cape Girardeaus full-time employees do not contribute to the pension plan. The ' political subdivision is required by state statute to contribute at an actuarially determined rate; the current rate is 8.0% (general), 8.1% (police) and 15.3% (fire) of annual covered payroll. The contribution requirements of plan members are determined by the governing body of the political subdivision. The contribution provisions of the political subdivision are established by state statute. r 3. Annual Pension Cost For 1996, the political subdivision's annual pension cost of $779,824 was equal to the required and actual contributions. The required contribution was detemtined as part of the February 28, 1994 and/or 1995 annual actuarial valuation using the entry age actuarial cost method. The actuarial assumptions included (a) a rate of return on the investment of present and future assets of 7.0% per r year, compounded annually, before retirement and 4.0% per year, compounded annually, after retirement, (b) projected salary increases of 4.0% per year, compounded annually, attributable to inflation, (c) additional projected salary increases ranging from 0.0% to 4.0% per year, depending on age, attributable to seniority/merit, and (d) pre -and post-retirement mortality based on the 1984 Group Annuity Mortality table set back no years for men and 6 years for women. The actuarial ` value of assets was determined using techniques that smooth the effects of short -tern volatility in the market value of investments over a five-year period. The unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll on a closed basis. The amortization period at February 29, 1996 was 17 years. Three -Year Trend Information Fiscal Annual Percentage Net i` Year Pension of APC Pension �. EndinR Coll APC Contributed Obligation 06/30/94 1,902,799 100% 0 06/30/95 693,627 100% 0 06/30/96 779,824 100% 0 49 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE H - PENSION PLAN - Continued 3. Annual Pension Cost - Continued Required Supplementary Information Schedule of Funding Progress Note: The above assets and actuarial accrued liability do not include the assets and present value of benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The City has chosen early implementation of GASB 27 (Accounting for Pensions by State and Local •- Governmental Employers.) The disclosures in this note are in accordance with that Statement. NOTEI- INTEREST EXPENSE Interest cost, including handling charges, totaling $3,030,627, excluding $168,922 of interfund "- interest, was incurred during the year ended June 30, 1996. No interest cost was capitalized as pan of the cost of assets constructed during the period. 50 (a) (b) (b -a) (a/b) (c) ((b-a)/c) .� Entry Age Unfunded UAL as a Actuarial Actuarial Actuarial Accrued Annual Percentage of Valuation Value Accrued Liability Funded Covered Covered Date of Assets Liability (UAL) Ratio Payroll Payroll ._ 02/28/94 10,200,147 11,284,222 1,084,075 90% 7,388,088 15% 02/28/95 11,437,061 12,415,102 978,041 92% 7,646,328 13% .- 02/28/96 11,745,277 13,096,931 1,351,654 90% 8,010,696 17% Note: The above assets and actuarial accrued liability do not include the assets and present value of benefits associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The City has chosen early implementation of GASB 27 (Accounting for Pensions by State and Local •- Governmental Employers.) The disclosures in this note are in accordance with that Statement. NOTEI- INTEREST EXPENSE Interest cost, including handling charges, totaling $3,030,627, excluding $168,922 of interfund "- interest, was incurred during the year ended June 30, 1996. No interest cost was capitalized as pan of the cost of assets constructed during the period. 50 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE 3 - INTERFUND RECEIVABLES AND PAYABLES The following is a summary of the amounts due from and to other funds. General Fund Capital Improvement Sales Tax Fund Debt Service Fund ' CDBG Fund .. Solid Waste Fund Golf Course Fund Sewer Fund �. Softball Complex Fund r Due to Due from $ 1,743,249 $ - - 34,914 - 58,144 - 4,181 - 1,717 - 1,450,852 193.441 $ 1.743.249 1 743 249 NOTE K - DEFERRED COMPENSATION PLAN The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All plan assets including all amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account for each participant. The City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. 51 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE L - SEGMENT INFORMATION FOR ENTERPRISE FUNDS The City maintains five enterprise funds which provide sewer, water, solid waste, golf, and softball complex services. Segment information for the year ended June 30, 1996 was as follows - NOTE M - RESERVATION OF FUND EQUITY At June 30, 1996, the City had reserved its fund equity as follows General Fund Reserved for prepaid items $ 57,043 Reserved for advances 1,752,500 Reserved for mausoleum maintenance 56,441 Reserved for police projects 42,406 Reserved for encumbrances 132,508 $ 2 040 898 52 Softball Sewer Water Solid Waste Golf Course Complex Total Fund Fund Fund Fwd Fund Enterprise Operating Revenues $ 2,433,724 S 3,950,162 $ 2,596,786 $ 423,371 $ 24,075 $ 9,428,118 Depreciation 744,078 345,323 205,167 52,476 4,832 1,351,876 Operating Grants 3,216 - 14,624 - - 17,840 Operating Income (Loss) 467,092 842,620 174,490 14,916 (117,603) 1,381,515 Operating transfers in - - - 45,000 - 45,000 Net htwme (Loss) 241,180 233,118 243,338 39,842 (124,379) 633,099 Current Capital Contibutions 553,390 470,810 - - - 1,024,200 Property, Plant and Equipment Additioms 3,038,910 908,430 177,639 84,704 26,596 4,236,279 Deletions - (1,596) (501,377) (919) - (503,892) Net Working Capital 26,797,084 2,935,747 (17,305) (375,556) (207,492) 29,132,478 Total A,csem 53,109,259 14,796,423 2,238,012 410,797 41,526 70,596,017 Bonds and Other Long - Tenn Liabilities Payable from operating revenues 33,894,105 12,514,403 974,502 - - 47,383,010 Total &tuity $ 16,635,362 $ 1,424,241 $ (721,748) $ (14,541) $ (166,057) $ 17,157,257 NOTE M - RESERVATION OF FUND EQUITY At June 30, 1996, the City had reserved its fund equity as follows General Fund Reserved for prepaid items $ 57,043 Reserved for advances 1,752,500 Reserved for mausoleum maintenance 56,441 Reserved for police projects 42,406 Reserved for encumbrances 132,508 $ 2 040 898 52 r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE M - RESERVATION OF FUND EQUITY - Continued Special Revenue Funds Convention/Visitors Fund Reserved for encumbrances Airport Fund Reserved for prepaid items Reserved for encumbrances Parks and Recreation Fund Reserved for prepaid items Reserved for encumbrances Health Fund Reserved for encumbrances Motor Fuel Tax Fund Reserved for encumbrances Transportation Sales Tax Trust Fund Reserved for encumbrances Debt Service Fund Reserved for debt service Capital Projects Funds General Capital Improvement Fund Reserved for debt service Reserved for bond capital expenditures Reserved for encumbrances Corps Flood Control Fund Reserved for encumbrances Street Improvements Fund Reserved for debt service Reserved for bond capital expenditures Reserved for encumbrances FAU Street Grants Fund Reserved for encumbrances Community Development Block Grant Fund Reserved for economic development loan repayments Reserved for encumbrances 53 $ 690 10,688 100 473 27,264 2,345 69,974 442.432 553 966 $ 2,959,494 369,137 1,238,885 3,061,685 7,200 266,615 452,543 536,747 461,559 94,358 8.500 $ 6 497,229 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE N - RESERVED RETAINED EARNINGS AND RESTRICTED ASSET ACCOUNTS As of June 30, 1996, the reserved portion of retained earnings for the Sewer Fund is as follows: Reserved for debt service 28,333 Total reserved retained earnings 28 333 At June 30, 1996, the City has restricted assets in its Enterprise funds as follows: Bond Construction Sewer Fund $ 25,794,976 Water Fund 761,495 Solid Waste Fund 198.992 $ 26 755,463 Revenue Bond Sinking and Reserve Fund Total $ 1,489,231 $ 27,284,207 1,270,357 2,031,852 88.592 287.584 L2108 $ 29 603 643 NOTE O - LANDFILL CLOSURE AND POSTCLOSURE CARE COST State and federal laws and regulations require the City to place a final cover on its landfill when closed and perform certain maintenance and monitoring functions at the landfill site for thirty years after closure. The City closed its landfill in the fiscal year ending June 30, 1994, and an expense provision and related liability were recognized at that time based on the future closure and postclosure care costs that were estimated to be incurred near or after the date the landfill no longer accepted waste. The entire amount of the estimated total costs for landfill closure and postclosure care costs was recognized in prior years since the recognition is based on landfill capacity used to date and the landfill was filled to capacity in prior years. The estimated total future liability for landfill postclosure care costs is $815,258 as of June 30, 1996, which is based on the amount that would be paid if all equipment, facilities, and services required to close, monitor, and maintain the landfill were acquired as of June 30, 1996. However, the actual cost of closure and postclosure care may be higher due to inflation, changes in technology, or changes in landfill laws and regulations. The City of Cape Girardeau has used the option of a Contract of Obligation as the financial assurance instrument for the landfill. The City issued bonds in October 1994 from which the proceeds have been used to pay the closure costs. 54 f - City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE P - RISK MANAGEMENT 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's health insurance plan is a minimum premium plan administered by Continental Assurance Company which has a "A" rating by A. M. Best. Under this plan the City pays the administrator a monthly premium for claims administration, claims pooling, and fatal claims coverage. The City reimburses the administrator for claims paid up to $50,000 annually per employee and approximately $800,000 annually for all employees. Rates are charged by the internal service fund to the other city funds to cover this maximum liability. Ten per cent of all claims paid by the administrator in excess of the maximum annual liability in any given policy year may be carried I� over into the following policy year. The City's workmen's compensation plan is administered by Galligher Bassett Inc. Under this plan +� the City pays the administrator a per claim fee to administer it's claims. All claims are paid directly by the City. The City has purchased insurance coverage from Safety National Casualty Corp. that limits the maximum claims to $225,000 and $275,000 per regular employee and police employee respectively. Additionally, $1,000,000 in coverage is provided for annual claims in excess of $535,000. Rates are charged by the internal service fund to the other city funds based on rates and experience factors established by the National Council on Compensation Insurance. Safety National ` is rated "A- 8" by A. M. Best. ,- Claims liability is estimated using data supplied by the administrator. The claims activity during ` the year is summarized as follows: CLAIMS LIABILITIES RECONCILIATION Health Workers' Insurance Compensation Total Balance, July 1, 1994 $ 145,787 $ 78,222 $ 224,009 Provision for Incurred Claims 720,646 268,985 989,631 Payments of Claims67I 7.714119( 1.682) 86( 9.396) Balance, July 1, 1995 $ 188,719 $ 155,525 $ 344,244 Provision for Incurred Claims 761,641 176,055 937,696 Payments of Claims742 234 14( 0.160)88( 2.394) �- Balance, June 30, 1996 $ 208.126 191,420 399 546 55 r City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENT'S June 30, 1996 NOTE Q - 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 Combined Balance Sheet. At June 30, 1996, utility receivables totaled $1,759,487. On the financial statements, the utility - roeeivables are shown net of the allowance for doubtful accounts of $596,379. This results in net utility receivable of $1,163,108. -_ NOTE R - 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 Gmnts 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 significaru. 3. Construction Commitments -� As of lune 30, 1996, the City had construction commitments outstanding of $5,310,327. 4. Encumbrances As of June 30, 1996, the City had encumbrances outstanding of $7,444,357. 56 City of Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS June 30, 1996 NOTE S - CONTRIBUTED CAPITAL The changes in the contributed capital accounts for the enterprise funds were as follows: Solid Sources Sewer Water Waste Total Beginning Balance, July 1, 1995 $ 15,360,444 $ 721,716 $ 288,585 $ 16,370,745 Contributing Sources: Donated assets by developers 249,670 227,992 - 477,662 Connection fees 247,703 - - 247,703 State grants 56.017 242.818 298.835 Ending Balance, June 30, 1996 $ 15.913.834 1 192 526 288 585 17.394.945 NOTE T - EXCESS OF EXPENDITURES/EXPENSES OVER APPROPRIATIONS For the year ended June 30, 1996 expenditures/expenses exceeded appropriations in the individual funds as follows: r Budget Actual Variance r General Capital Improvement Fund $ 5,184,500 $ 6,308,804 $ 1,124,304 Park Improvement Fund 36,500 42,578 6,078 Solid Waster Fund 2,846,392 2,962,451 116,059 ` Employees' Fringe Benefit Fund 934,779 1,360,916 426,137 ` NOTE U - PRIOR PERIOD ADJUSTMENTS ` Beginning fund balances were reduced $68,600 and $17,236 in the general and capital improvement sales tax funds respectively. In March, 1996, the Supreme Court of Missouri held a statewide local r use tax unconstitutional. Based on this decision, the Missouri Director of Revenue stated that refunds r of the use tax previously collected plus interest must be given to all qualifying taxpayers. Although the recognition of revenue had been deferred on all use tax received by the city from the state, the interest earned on these accumulated receipts had been recognized as revenue in previous years. The prior period adjustment reclassified these earnings to deferred revenue pending the r OnteOnle of lawsuits filed by various cities throughout the state seeking to have the refunds declared illegal. 57 THIS PAGE INTENTIONALLY LEFP BLANK. 58 A 0 0 i IA 4 0 COMBINING, INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS AND SCHEDULES 59 THIS PAGE INTENTIONALLY LEFT BLANK. 60 A 11 0 A r L GENERAL FUND The General Fund is used to account for those activities which we associated with the general government of the City accounting for all revenues and expenditures not accounted for in other funds. The major activities include public safety of police, fire, and municipal court, park maintenance, street department, development services of planning, inspection, and engineering, and administrative services of finance, human resources, city manager, and city attorney. The General Fund accounts for a separate tax levy of $0.32 per $100 assessed valuation. 61 THIS PAGE INTENTIONALLY LEFF BLANK. r 62 City of Cape Girardeau, Missouri GENERALFUND COMPARATIVE BALANCE SHEET JUNE 30, 1996 AND 1995 ASSTS Cash and Cash equivalents Receivable&, net of allowances for doubtful receivables Real estate, pErsonai Property and merchant taxes Sales tax Franchise tax Special assessments receivable Interest receivable Other receivables ree«„lovernmemai receivables Giants receivable Due from other funds Advances roomer funds Inventories Prepaid items Total assets LIAIIH (TIES AND FUND BALANCES Accounts payable Attired Ila Uillties Salaries, payroll taxes and benefits Other ilabllites Due to other governments Deferred revenue Total liabilities Fund Balances Reskroed for prepald items Reserved for advances Reserved for mausoleum maintenance Reserved for police projects Reserved for encumbrances Unr2seived Total fund balances total liabilities and fund balances 63 1996 1995 $1,886,811 $2,208,001 40,978 40,911 565,962 559,821 1,073,061 1,048,369 45,840 40,743 153,002 63,526 148,571 67,196 261,733 39,630 1,743,249 1,050,373 1,752,500 1,752,500 90 71 57,043 71,905 $7,728,840 $6,943,046 $293,456 $219,030 266,112 264.879 140,672 30,299 — 4,419 1,519,471 1,075,119 2,239,711 1,593,746 57,043 71,905 1,752,500 1.752,500 56,441 52,983 42,407 39,803 132,507 42,799 3,448,231 3,389,310 5489.129 5,349,300 $7,728,840 $6,943,046 ary nl Cape Girameau, Mlaaan GENERAL FUND SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE W. 1996 64 VARIANCE FAW RARIS BUDGET ACTUAL (U NPAVORABLE) REVENUES Taxes $9989.500 $10.060,]]2 $]12]2 Licenses and pamhs 652.500 892,038 39,53S iegergovXcmental 265.000 762.450 517,450 Cauges kX nuee s 297,835 29,.997 (2938) Interdepartmental se-Nces 514,000 4]2959 (4t,041) Frey end lortedures 4.m. 553.214 68214 Miscellanea.. 129,460 303]]6 173916 ,Mae. 230,500 274941 44.341 Special essessmen6 1966 1966 TOTAL REVENUES 12,]63,]95 13.635.715 871920 EXPENDITURES Cce.e, Adm nsbatea aarvices City council 32.304 25,524 6,780 Human nolmacel 154.826 150,122 4.704 City nena9er 207,921 144549 63372 Pudlm awareness 30237 17,645 12,592 City attorney 171,643 15, 029 17.614 Finance 327216 323.625 3591 Inowdeparlmemal 458932 402,045 - 56.887 Tecaladmmisbatee service. 1Jed 081- 121]539 165,542 Daix,lopmenl.twice. Epson., services 224,795 23]315 (5520) n.Pegion ee—s 291.012 2S63e1 (5369) En9maerin9 urvices 7714,565 4".522 (23.957) Commonly and economic development 81,000 86.]6] pP6]) Public transpexalion 2".]00 245409 (709) TMel 01ked.1ment Seinece 1262.072 1305414 (43,3,2) For ksand recreation Pe* mautenancc ]51,]32 739,062 IS,fi]0 Cemetery 140998 143,816 (2918) Facility maimenance 146.390 134681 11,709 Total pares and recreation 1042, IN 1017.550 24.561 Public sanity Municipal court 212,467 158.249 14,218 Police 3.]835`77 3804.607 (2"07e) Fire 2930,702 2924,857 5945 Tagil public s9ety 6926]26 692]]43 (1015) Public tioMs Street 1,458 9]9 1342 213 116.696 Stormwater 316,438 285,393 30,045 Total public amaks 177531] 1629.650 146)11 Contingency 540000 _ 5%916 (56916) Debt Service Merosl and fiscal charges Iz5 76 49 Total deblsavice 125 76 49 TOTAL EXPENDITURES 12,929.b13 12,693.853 235.590 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) FSPENOITOHES (165648) 941 A62 1,107.510 OTHER FINANCING SOURCES (USES) Opaaling transfers In 9"1,115 620,]35 (100.000) Opaaling le—fors oN (1did 1500) (,654.140) 237,360 Roceeds hoce fixed asset. 7569 _ 10 64 2]64 TOTAL OTHER FINANCING SOURCES (I1SE5) (963261) 21.141) 140.124 L%CESS (DEFICt[NCY) OF NEVE RUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($11Pe 9131 $11e 121 $1141 CI 64 11 I SPECIAL REVENUE FUNDS Convention and Visitors Fund - to provide for the receipt and distribution of all funds in conjunction with the hotel-motel/restaurant tax. This is a gross receipt tax which provides for a rate of 3% on motel rooms and I% on restaurants. Airport Fund - to account for the operation and maintenance of the regional airport facility in accordance with Federal Aviation Administration regulations. The airport provides a service facility for passenger traffic, private and commercial aircraft, and related business activities. Financing is provided by user fees including hangar and terminal rentals and a FAA control tower grant. Downtown Business District Pund - to account for a separate tax levy on the downtown business district of $0.80 per $100 assessed valuation. A City Council appointed board makes recommendations for the expenditures of the revenues within the downtown business district for .k improvements, etc. Parks and Recreation Fund - to account for the operation of all parks and recreation activities of the City. This fund documents activities of two public pools, the A.C. Braise Arena multi- purpose building, and various recreation programs. Financing is provided by user fees and operating transfers. Health Fund - to account for limited funding for enforcement of health ordinances through a separate tax levy of $0.05 per $100 assessed valuation. Weed abatement activities and demolitions of condemned structures are also funded through this fund. Motor Fuel Tax Fund - to account for the receipt of funds from state motor fuel taxes and related sales taxes. It provides for the construction of appropriate street and bridge projects and a portion of the cost of routine street maintenance. Capital Improvement Sales Tax Fund - to account for the receipt of 1/4 cent sales tax collections to fund major capital improvement projects for flood control. Transportation Sales Tax Trust Fund - to account for the receipt of 1/2 cent sales tax collections to fund major street projects. Flood Protection Fund - to account for flood control maintenance of the Cape LaCroix Creel. Vision 2000 Fund - to account for the development of a community strategic plan to C aggressively lead the City into the year 2000. It represents community opinions to meet needs and desires for the future of the City such as community spirit, planning and zoning, business, and education. 65 THIS PAGE INTENTIONALLY LEFT BLANK. 66 Sly of Cape GFar draw u, Missoul SPECIAL DEV ENUE FUNDS OOMIlINING BALANCE SHEET June 30, 1996 (Wuh Compva0ve Trials Her June 30, 1995) Lunen,... Capidl Con aml Bus c Parts and M01 Impro enI LenspField61i0n Field Vis Le1� visilurs A' o ls ISe�c_ Recr®lion flus b Fuel Ta: Sales, Ta. Sales T, Pr9ar"Han 200 6-30-96 G-Ap-95 ASSETS Cashe,<aenequi,alants 5319,218 584526 524,40] 564,655 Slat 085 5289,667 5571.398 592],613 54,407 S625 S%467 40t SI.485,917 veslmen5 - - - - - - 1,500,000 - - - 1,500.000 1,145.589 ,a Rec ble% nm of arowancesfor do�btlul rete -tiles Roal 41.11 by - - 3117 - 5,319 - - - - - 0836 6.456 Pnsovl of Dut 1,066 1,066 917 No1el-male)av reed-ble 31 047 - - - - - - - - - 31,047 31,339 ReSauanl px r-o-oa 45144 - - - - - - - - - 45144 49,061 Notes luely - - - - - 8S065 - - - - 65.065 6],329 Mot, 1.11le license lees - - - - - 15349 - - - - 16349 15,449 Jot, 1.1ole.1as 6x - - - - - 1].502 - - - - 17.502 17,852 Otba recaobles - 11. 533 75 2 - - - - - 17710 20,75 Stivs by - - - - - - 141,469 281526 - - 422995 139920 role—n-ole - - - - - - 32615 - - - 3'{615 17,862 Grams receiruble 12971 129]1 28352 s 1,fow s 19.219 19,219 - J oa,.,d arno - 10.688 - 473 - - - - - - 11,161 14,491 Due from.11n lugs 132237 Tae, nsscm 5427599 S112 847 527124 565203 518]4]2 5407.583 S2245482 51209339 54,407 5625 S4, 687.681 S3, 19,556 LIABILITIES AND FUND BALANCES Accovn's'.'la 56456 $15,916 523000 534869 52603 5- 5- S59,970 5- S207 5153,021 $97809 Acooad lebmaes Sal— po,oll uses a nd benems 4,033 11.155 - 32714 1700 - - - - - 49.602 46292 O'ler lebirool - 30 - 373 - - - - - - 4(C{ 287 Duemaha fonds - - - - - - - - - - - 54,590 Delored-evenve - 22318 3,117 - 5544 - 358,808 11.787 401.5]4 2]4]93 Top, lubililies 10.489 49.419 26,117 6].9% 9.847 358,008 81,]5] 207 604600 475 771 Fund ,..Ices Besaved la 1.1ad items - 10.888 - 473 - - - - - - 11,161 14,370 R-oved fo .—Ota lcrs 690 100 - 27.264 2345 69.974 - 442.432 - - 542.805 244,919 Unreserved 416420 52640 1007 30 4MI 175,280 337609 1.886674 685.150 4407 418 3,529.115 2418.496 Tool fund balance, 417,110 64428 14007 (2753] 17],625 407,583 1,886,674 1,127,582 4,407 418 4,083,081 Z677 785 TOel lubililies and and belances 542],599 5112.847 527124 S65,203 S18],472 S407,583_ 52245.482 51,203,339 S4 407 5625 $4.687.681 S3, 153, 556 Clay M Ceoe GIm,ddau, M beourl SPECIAL REVENUE FUNDS CWSINING STATMENT OF REVENUES, EXPENDITURES AND CHANCES IN FUND BN.ANCES FOR THE FISCAL YEAR ENDED JUNE W. INS OONNT..N CAPITA TRANSPORTATION CONVENTION/ BUSINESS PAWS AND MOTIXV MPPOIEMENT SALES R.00O VISION TOTALS VISITORS AIRPORT DISTRICT RECREATION HEATH NA TAX ME IS TAX TAX PROTECTION 20]0 1W5-iWB REVENUES Tues EBfe,B2] E- E1C108 E- a'.. E- Et INE.0 " 4182 E- E- S PPB,InUargm070 00,501 - - O,NH) 1,1 ,018 I,NSI,O]0 nar,.er r1.. CMgee l.... w B]® M157 C{IS] - 289,79] RNR tW]1S - ]]9 - - 28 - 3,)7 118 YA n1danahneaua Inxml Pll91 - 1,4Y 1905 10.1W 29078 19,408 y�i 2A ]a 22,855 TOT& RI ENUES a. G12 4T1.&N 14221 'M'. 1@,.5 1,Zb ABB :]8.416 12 IND 27S ]]85 SO 2,161 EXPENDITURES Current AEminHL211ve,erccea ffi1,111 7. ES 1,m, 1,0 DeveloJneT. sark-a - - 23249 - - - - - - SBR IS DO Perks and N Yon 685417 685,91. P.EIP P.duo.o-ks _ _ _ _ _ _ 1112A — — 1. SR Cmue vice 11,8]9 naar—ndri—c^a,vw Sart 5. B4 GO 9.1 TDTA EXPENDITURES 23.111 SIS 7.7 .2. 918.1 UR'. .7.7 3S1 111181 ]BR 2161. W EXCESS DEFICIENCY) OF REVENUES CVER(UNDER) EXPENDITURES 92AI G].,16'E E.] 3541]9 3313. 11Y,5W 1)817 11J1Or.2 2M la ].1].2 OTHER FINANCING SOURCES (USES) 0,11,1-1ma In 4®,p]p - aus - _ _ _ 9®,.2J OFe.1ne 4emlen DW !IG5dW (1 I. Go U,T22,NG, (3..7 W TOTAL OTHER FINANCING SOURCES (USES) SO, odd, i®,0.tl l$ WJ (1193 WC 11 M-9 (2..S0D EXCESS(DEFICIENC)r) OF REVENUES AND OTHER FINANCING SWRCES OVER (UNOERI EXPENDITURES AND OTHER FINANCING USES e1' 1 2.,957 (E P, SS, II3 G5,1J. 555. SB, 586 1,IC7.2 2A 1. '122,5]2 FUND BALANCES. JULY 1 3a9,.A .171 10Pk (59.]31 1.,496 .1064 1S. d" - 4,137 2P 26]2]65 PRIOR PER OD AD JU STM EN (179DRI (1]2661 FUND BALANCES, JUNE dD S417 10 E®,, Et W] M7.) $177 S25 V07 Sad $1898,8]4 Et 12'. 5440 541. NC.,.1 City of Cape Girartleau, Missouri CONVENTION/VISITORS SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 r 69 REVENUES r Taxes $837,000 Intergovernmental — V Charges for services r BUDGET City of Cape Girartleau, Missouri CONVENTION/VISITORS SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 r 69 REVENUES Taxes $837,000 Intergovernmental — Charges for services 3,000 Miscellaneous — y Interest 10,000 r TOTAL REVENUES 850,000 EXPENDITURES r Current Administrative services 548,017 t TOTAL EXPENDITURES 548,017 r EXCESS (DEFICIENCY) OF REVENUES r OVER (UNDER) EXPENDITURES 301,983 r ' OTHER FINANCING SOURCES (USES) r Operating transfers out 535.000 TOTAL OTHER FINANCING SOURCES (USES) r — _(535,000 EXCESS (DEFICIENCY) OF REVENUES r AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES x$233,017) ACTUAL, $846,827 23,381 8,709 2,434 17,961 899,312 296.965 296,965 602,347 (535,000) (535,000) $67,347 VARIANCE FAVORABLE _LU IN $9,827 23,381 5,709 2,434 7,961 49,312 251,052 251,052 300,364 $300,364 69 ACTUAL, $846,827 23,381 8,709 2,434 17,961 899,312 296.965 296,965 602,347 (535,000) (535,000) $67,347 VARIANCE FAVORABLE _LU IN $9,827 23,381 5,709 2,434 7,961 49,312 251,052 251,052 300,364 $300,364 City of Cape Girardeau, Missouri AIRPORT SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 �. VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Intergovernmental $170,000 $271,184 $101,184 .. Charges tot services 87,000 62,157 (24,843) Miscellaneous 114,250 104,313 (9,937) TOTAL REVENUES 371,250 437,654 66,404 I XPI NDITURES Cuvenl Administrative services 652,465 616,302 36,163 Debt Service Principal — 11,878 (11,878) Interest an it fiscal charges 7,500 5,903 1,597 -- TOTAL EXPENDITURES 659,965 634,083 25,882 EXCESS (DEFICIENCY) OF REVENUES 0VI-11 (UNDER) EXPENDITURES (288,715) (196,429) 92,286 OTHER FINANCING SOURCES (USES) Operating transfers in 287,500 408,000 120,500 •y TOTAL OTHER FINANCING SOURCES (USES) 287,500 408,000 120,500 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($1,2151 $211,571 $212,786 70 City of Cape Girardeau. Missouri DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes $22850 $13,189 ($9,661) Interest 500 1,032 532 TOTAL REVENUES 23,350 14,221 (9,129) EXPENDITURES Current Developmenl services 23,320 23,248 72 TOTAL EXPENDITURES 23,320 23,248 72 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES $30 ($9027) x$9,057) 71 City of Cape Girardeau. Missouri PARKS AND RECREATION SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE —BUDGET ACTUAL (UNFAVORABLE) REVENUES Charges for services $270,700 $288,067 $17,367 Miscellaneous — 7,737 7,737 Interest 1,845 1,845 TOTAL REVENUES 270,700 297,649 26,949 I XPI_NDIIURIS C ...rent Parksand recreation 727,039 711,400 15,639 Debt senvioe Interest and fiscal charges 1,800 594 1,206 TOTAL EXPENDITURES 728,839 711,994 16,845 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (458,139) 414,345) 43,794 J OTHER F INANCING SOURCES (USES) Opmaling transfers in 455,000 455,000 — TOTAL OTHER FINANCING SOURCES (USES) 455,000 455,000 — EXCESS (DEFICIENCY) OF REVENUES _ AND OIHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($3139) $40,655 $43,794 72 r r City of Cape Girardeau, Missouri HEALTH SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 73 VARIANCE FAVORABLE _BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes $144,100 $148,948 $4,848 Intergovernmental 4,075 3,487 (588) Interest 1,500 10,150 8,650 TOTAL REVENUES 149,675 162,585 12,910 EXPENDITURES Current Public safety 145,188 127,041 18,147 Debt Service Interest and fiscal charges 250 250 TOTAL EXPENDITURES 145,438 127,041 18,397 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES $4,237 $35,544 $31,307 73 City of Cape Girardeau, Missouri MOTOR FUEL TAX SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Intergovernmental $1,223,500 $1,196,018 ($27,482) Interest 25,000 29,378 4,378 TOTAL REVENUES 1,248,500 1,225,396 (23,104) I-XPENDITUIiES Current Public works 150,000 91,865 58,135 _ Debt Service Interest and fiscal charges — 84 _ (84) TOTAL EXPENDITURES 150,000 91,949 58,051 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1,098,500 1,133,447 34,947 O1HrR FINANCING SOURCES (USES) r Operating transfers out (1,100,000) (1,100,000) TOTAL OTHER FINANCING SOURCES (USES) (1,100,000) (1,100,000) EXCESS (DEFICIENCY) OF REVENUES _ AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($1,500) $33,447 $34 947 74 r City of Cape Girardeau, Missouri r CAPITAL IMPROVEMENT SALES TAX SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES — - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 r r VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) REVENUES Taxes $1,617,500 $1,648,900 $31,400 'r Miscellaneous —28 28 Interest 83,400 133,488 50,088 TOTAL REVENUES 1,700,900 1,782,416 81,516 EXPENDITURES r Currept Public works 101,300 — 101,300 Debt Service Interest and fiscal charges — 350 (350) r TOTAL EXPENDITURES 101,300 350 100,950 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1,599,600 1,782,066 182,466 OTHER FINANCING SOURCES (USES) Operating vansfers out (1,722,500) (1,722,500) r TOTAL OTHER FINANCING SOURCES (USES) (1,722,500 (1,722,500) r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITUIIGS AND r OTHER FINANCING USES ($122900) $59 566 $182_`66 City of Cape Girardeau, Missouri TRANSPORTATION SALES TAX TRUST SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE e BUDGET ---ACTUAL (UNFAVORABLE) REVENUES Taxes $- $1,230,192 $1,230,192 merest 8,671 8,671 -� TOTAL REVENUES 1238,863 1,238,863 EXPENDITURES Current Public works 700,000 553,713 146,287 TOTAL EXPENDITURES 7W,000 553,713 146,287 y EXCESS (DEFICIENCY) OF REVENUES -. OVER (UNDER) EXPENDITURES$7( 00,0001 $685,150 $1,385,150 �fi City of Cape Girardeau, Missouri FLOOD PROTECTION SPECIAL.. REVENUE FUND r SCHEDULE Of, REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE. 30, 1996 VARIANCE r FAVORABLE BUDGET ACTUAL (UNFAVORABLE) r REVENUES inlerest $150 $270 $120 r TOTAL REVENUES 150, ^„ 270_ _ 120 EXPENDITURES r Cmrenl Administretive services 4,300 - 4,300 .r TOTAL EXPENDITURES 4,300 - 4,300 EXCESS (DEFICIENCY) OF REVENUES r OVER (UNDER) EXPENDITURES ($4, 150)_ $270 $4,420 77 City of Cape Girardeau, Missouri VISION 2000 SPECIAL REVENUE FUND - SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE -' BUDGET _ ACTUAL (UNFAVORABLE) REVENUES Miscellaneous $10,000 $3,721 ($6,279) Interest 100 74 (26) .. TOTAL REVENUES 10,100 3,795 (6,305) EXPENDITURES _ Current Development services 10,100 3,672 6,428 TOTAL EXPENDITURES 10,100 3,672 6,428 EXCESS (DEFICIENCY) OF REVENUES _. OVER (UNDER) EXPENDITURES $- $123 $123 78 4 A A DEBT SERVICE FUND The Debt Service Fund accounts for the financing of the interest and the retirement of the principal of general long-term debt. The Debt Service Fund is administered by the Finance Department and includes the multi-purpose building bonds and leasehold revenue bonds issued by the Cape Girardeau Public Facilities Authority for general capital improvement projects not funded through Enterprise Funds. Financing is provided by a separate tax levy of $0.10 per $100 assessed valuation, special assessments, and transfers of motor fuel taxes, hotel/motel and restaurant taxes, and capital improvement sales taxes from special revenue funds. A 4 r 79 THIS PAGE INTENTIONALLY LEFF BLANK. 80 r r - City of Cape Girardeau, Missouri DEBT SERVICE FUND COMPARATIVE BALANCE SKEET .. JUNE 30, 1996 AND 1999 1996 1995 r ASSETS Cash and Cash equivalents $824,740 $649,348 lnvesMenis 2,137,084 2,350,910 Redeivables, net of allowances for r doubtful receivables Heat estate, personal property and merchant taxes 12,863 12,753 Special assessments rece;vabie 662,534 724,107 _ Interest receivable --3-0 193 35 174 R Total assets$3 667 414 $33 772 292 — r LIABILITIES AND FUND BALANCES r Due to other funds $34,914 $132,237 Detailed revenue 673,006 732,174 Total liabilities 707,920 864,411 r Fund Balances ResoNe0 for debt service2,959,494 .— 2,907,881 r Total fund balances 2,959.494 2,907,881 Total liabilities and lund balances $3 fi67414 _L3772292 r 81 THIS PAGE INTENTIONALLY LEFT BLANK. 82 R R I R N A CAPITAL PROJECTS FUNDS General Capital Improvement Fund -to account for major capital improvement projects funded through local revenue sources, involving general public facilities. Corps Flood Control Project Fund - to amount for the financing of the local share of the Cape LaCroix -Walker Creek Flood Control Project being constructed by the U.S. Army Corps of Engineers. Street Improvements Fund - to account for the financing of street paving and reconstruction projects. Many of the projects provide a benefit to a specific group of properties and are financed through the issuance of special assessments to the property owners. FAU Street Grants Fund - to account for the major street projects which are paid for with the assistance of federal aid urban (FAU) funds. Community Development Block Grant Fund - to account for the revenue and expenditures for rehabilitation of housing, capital projects, and economic grants obtained from the Community Development Block Grant Program. Park Improvements Fund - to account for capital projects directed for park improvements 83 THIS PAGE INTENTIONALLY LEFT BLANK. 84 I I i t t r r I r_ I F- I- n City of Cape Girardeau, Missouri CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET June 30, 1996 (With Comparative Totals for June 30, 1995) I I _ F _ , _ F General Corp Capital Flood Street FAU Street CDBG Park Totals Improvement Control Improvements Grants Gant Improvements 6-30-96 6-30-95 ASSETS Cash and cash eGu6alents $1,90],630 5994,231 $952,687 $174,510 5194,383 $171,124 54,394,565 $4,998,910 Investments - 860,141 - - - - 860,141 1,651,726 G3ntsre0eFlaNe 218,3]6 - - 187,595 42,290 - 448.261 171,375 Special assessments receivable - - 89,625 10,169 - - 99,]94 147,84] Interestreceiwble 8,986 13.188 2,7]7 - - - 22,951 33,537 Notes receivable 8,065 8,065 12,097 Total assets $2132.992 $1,887,560 $1,045089 $3]2,2]4 $244738 $171.124 $5,833,]7] $],015500 LIABILITIES AND FUND BALANCES Accounts payable $317,546 $16,090 $61,432 $19,]]0 $305 $160 $415,311 $71,349 Due to odl rgovernor ents - - - - 1,000 - 1,000 500 Due to otter hinds - - - - 58,144 - 56,144 175,453 Deforredrwenue -317 88,736 10,169 98,907 146.121 Total liabilities 546 16.098 150,170 29,939 59,449 160 573,362 393,423 Fund balances Reserved for debt service 369,137 - 266,615 - - - 635,752 943,914 Reserved for bond ca pital expenditures 1,238,885 - 4520543 - - - 1.691,428 4,365,994 Reserved for econom is see loan repymnts, - - - - 94,358 - 94,358 84,634 Reserved for encumbrances 3,061,685 7,200 536,]4] 461,559 8,500 - 4,075,691 330,040 Unreserved (2.854,261) 1,844,262 1360,986) (119,224) 82,431 170,964 (1.236.814) 897,495 Total fund balances 1,815,446 1,851,462 894,919 342.335 185,289 1]0.964 5,260,415 6,622,0]] Total liabilities and fund balances $2132992 $1,86]560 $1,045.089 $372.2]4 $244,738 $171,124 $5833]]] $7015500 City of Cape Girardeau, Missouri CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30, 1996 GENERAL CORP FAU CAPITAL FLOOD STREET STREET CDBG PARK TOTALS IMPROVEMENT CONTROL IMPROVEMENTS GRANTS GRANT IMPROVEMENTS 1995-1996 REVENUES Intergovernmental $2,14],226 $- $- $187.595 $302,624 $120,000 $2,]5],445 Interest 124,]43 102,685 68,617 17,402 7,088 6 75 32],293 Special assessments - - 29,812 5,084 34,896 TOTAL REVENUES 2,271,969 102,685 98,429 210,081 309,712 126,758 3.119,634 EXPENDITURES Capital outlay 3,420,044 565,410 920,083 231,096 349,632 43,755 5,530,020 Debt service Interest and fiscal chargee 2,552 1,855 ],98] 3,287 15,681 ' TOTAL EXPENDITURES 3,422,596 567,265 928,070 231,096 352,919 43,755 5,545,701 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,150,62]) (464,580) (829,641) (21,015) (43,20]1 83,003 (2,426,067 OTHER FINANCING SOURCES (USES) Operating transfers in 189,500 250,000 552,300 53,200 129,440 65,000 1,239.440 Operating bansfers out - - (12],800) - - (4],2351 (175,035) TOTAL OTHER FINANCING SOURCES (USES) 189,500 250,000 424,500 53200 129,440 1]765 1,064,405 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES 1981,127 (214,580) (405,141) 32,185 86,233 100768 (1,361.662) FUND BALANCES, JULY 1 27]6,5]3 2,066,042 1,300,060 310,150 99,056 ]0,196 6,622077 FUND BALANCES, JUNE 30 8.446 $1. 15 $1.051 462 $894919 $342335 $185289 $1]0964 $5260415 ■ City of Cape Girardeau, Missouri GENERAL CAPITAL IMPROVEMENT FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 87 VARIANCE FAVORABLE BUDGET_ ACTUAL SUNFAVORABLE) REVENUES Intergovemmental $1,856,500 $2,147,226 $290,726 Interest 60,000 124,743 64,743 TOTAL REVENUES 1,916,500 2,271,969 355,469 EXPENDITURES Capital outlay 5,184,500 6,306,252 (1,121,752) Debt service Interest and fiscal charges _ _ 2,552 2,552 TOTAL EXPENDITURES 5,184,500 6,308,804 (1,124,304) LXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (3,268,000) (4,036,835) (768,835) OTHER FINANCING SOURCES (USES) Operating transfers in 410,000 189,500 (220,500) TOTAL OTHER FINANCING SOURCES (USES) 410,000 189,500 (220,500) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($2,858000) ($3647335) 87 City of Cape Girardeau, Missouri CORP FLOOD CONTROL CAPITAL PROJECT FUND �. SCHEDULE OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE v FAVORABLE BUDGET ACTUAL AUNFAVORABL E REVENUES Intergovernmental $315,000 $- ($315,000) Interest 70,000 102,685 32,685 + TOTAL REVENUES 385,000 102,685 (28231 EXPENDITURES Capital outlay 1,800000 563,684 1,236,316 Debt service Interest and fiscal charges - 1.855 1,855 TOTAL EXPENDITURES 1,800,000 565,539 1,234,461 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES _(1,415,000) (462,854) 952,146 OTHER FINANCING SOURCES (USES) Operating transfers in 250,000 250,000 70TAL OTHER FINANCING SOURCES (USES) 250,000 250,000 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($1,165,000) ($212854) $952,146 PR V Hyl . City of Cape Girardeau, Missoed STREET IMPROVEMENT FUND '! SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 r VARIANCE `., FAVORABLE BUDGET ACTUAL. UNFAVORABLE r REVENUES Interest $25,000 $66,617 $43,617 ., Special assessments 26,000 29,812 _ 3,812 TOTAL REVENUES 51,000 98,429 47,429 EXPENDITURES Capital outlay 1.956,000 1,414,519 541,481 Debt service Interest and fiscal charges — 7,987 ___J7 987) r TOTAL EXPENDITURES 1,956,000 1,422,506 533,494 r EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES {1,905,000) (1,324,0771 580,923 r OTHER FINANCING SOURCES (USES) Operating transfers in 677,300 552,300 (125,000) Operating transfers out X127,800 (727,, S00) ------7- TOTAL OTHER FINANCING SOURCES TOTAL (USES) 549,500 424,500 (725,000) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($1 3555001 .09957_ $45G1923, r V Hyl City of Cape Girardeau, Missouri FAU STREET GRANTS FUND SCHEDULE OF REVENUES AND EXPENDITURES — « BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL « (UNFAVORABLE) REVENUES Intergovernmental $566,740 $187,595 ($379,145) Interest — 17,402 17,402 Special assessments — 5,084 5,084 « TOTAL REVENUES 566,740 210,081 (356,659) EXPENDITURES Capital outlay 797,110 644,852 152,258 TOTAL EXPENDITURES 797,110 644,852 152,258 -- EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (230,370) (434,771) (204,401) OTHER FINANCING SOURCES (USES) « Operating transfers in _ 53,200 53,200 TOTAL OTHER FINANCING SOURCES (USES) 53,200 53,200 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES « OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($177,170) ($381571) ($204401) 90 r t City of Cape Girardeau, Missouri COMMUNITY DEVELOPMENT BLOCK GRANT FUND SCHEDULE OF REVENUES AND EXPENDITURES — BUDGET AND ACTUAL (BUDGET BASIS) F FOR THE FISCAL YEAR ENDED JUNE 30, 1996 r VARIANCE r FAVORABLE BUDGET ACTUAL (UNFAVORABLE) r REVENUES Intergovernmental $383,500 $302,624 ($80,876) Interest 7,088 7,088 TOTAL REVENUES 383,500 309,712 (73,788) EXPENDITURES Capital outlay 544,420 303,785 240,635 Debt service Interest and fiscal charges 1,500 _ 3,287 (1,787) r TOTAL EXPENDITURES 545,920 307,072 238,848 r EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (162,420) 2,640 165,060 s r OTHER FINANCING SOURCES (USES) Operating transfers in 141,800 129,440 (12,360) r TOTAL OTHER FINANCING SOURCES (USES) 141,800 129,440 (12,360) r EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND r OTHER FINANCING USES _1$206 $132,080 $152.700 t 91 City of Cape Girardeau, Missouri V PARKIMPROVEMENTSFUND SCHEDULE OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL {UNFAVORABLE)_ REVENUES Intergovernmental $— $120,000 $120,000 Interest 2,000 6,758 4,758 TOTAL REVENUES 2,000 126,758 124,758 EXPENDITURES Capital outlay 36,500 _ 42,578 (6,078) TOTAL EXPENDITURES _36,500 42,578 (6,078) EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 34,500 84,180 118,680 OTHER FINANCING SOURCES (USES) Operating transfer$ in 65,000 65,000 — Operatingtransfersout (47235) ____L47 235) TOTAL OTHER FINANCING SOURCES (USES) 17,765 17,765 EXCESS (DLPICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES ($16735) $101,945 $118,680 92 j A M ■ ENTERPRISE FUNDS Sewer Fund - to account for the operations and maintenance of the facilities which provide for the proper treatment and disposal of domestic, commercial, and industrial wastewaters to meet state and federal regulations. Financing is provided by user fees. Water Fund - to account for the operations and maintenance of the facilities which provide for the proper treatment and distribution of safe drinking water and adequate fire flows to meet state and federal regulations. Financing is provided by user fees. Solid Waste Fund - to account for the collection, disposal, and processing of solid waste and recycling materials. The Solid Waste Fund includes the commercial, residential, transfer station, landfill, and recycling divisions of the City. Financing is provided by user fees. Golf Course Fund - to account for the operation and maintenance of the 18 hole municipal golf course. Financing is from user fees including green fees, cart rental, and pro shop concessions and equipment sales. Softball Complex Fund - to account for the operation and maintenance of softball fields for softball league and tournament events as well as various sport complex features for recreational activities. Financing is provided by user fees. 93 THIS PAGE INTENTIONALLY LEFT BLANK. 94 Y City of Cape Girardeau, Missouri ENTERPRISE COMBININGING BALANCES SHEET Julie 30, 1996 �1 (With Comparative Totals for June 30, 1995) Solid Gulf Softball Tlnals Sewer Water Waste Coarse Complex 6-30-% 6-30-95 ASSETS Cast, and each equNalenls $34,555 $841,633 $515,234 $46,592 $- $1,438,014 $1,242,65] r vestments 1,147,135 - 121,854 - - 1,268,9&9 718,265 Unity charges receivable (net of allowance for doubtful reeeWab,eS) 328,953 521.302 312,853 - - 1,163,103 1.135,239 Gants vena lb,e 56,033 235,542 - - - 291575 43,191 r S,r,col assessments receivable 142,784 - - - - 142,784 101,536 Inte'est receivable 382,295 15.988 6,675 - - 401,958 55.383 Other receivables 6,422 9.625 33.384 617 - 50,048 90.155 Inventories - 107,119 - 2,092 - 109,211 156,592 r Restricted assets Cash and cash equivalents 25,909,541 860,154 207,084 - - 26,1 14,568,922 Inveslmants 1,374.666 1,171698 80,500 - - 2,62,864 3,581,359 I'roaditems 725,034 275,465 45.694 481 91 1,046,765 674,639 r 30,107,418 403,526 1,323,278 49,782 91 35,519.095 22.368,238 Y I',hpmN. Plant snit equloment tend 135869 - 112,240 - - 248,109 238,790 r 3h,10n s 8,156,627 19,266 72,231 3,549 - 9,084,673 9,060,278 mp ovei ....... other buildings 19,221412 10,48]66] 83,122 328,535 - 30,120,736 27,653,591 rquipmant 992,863 605.570 1,240,125 389,840 46,267 3,274,665 3,421,263 Cn,""Iion in ororyess 3,9K35,278 718,882 34,389 4,688,549 3,310,423 32442079 12,010.385 2,161]18 75,313 46,267 47,416,732 43.684,345 1 ass nCRimu,aleddepreealmh 9,440,203 1,252488 1,246,984 395298 4,832 12,339,810 11417,855 r 23.001,841 10,]5] &97 914 734 361.015 41,435 35,076.922 32.266 490 Total assets$53109259 $14]96423 $2,2386_241079] $41526 $70.596017 X634728_ LIABILITIES AND FUND EOUIiY Accounts payable $507,213 $340,446 $115,793 $14840 $3,900 $1,062,192 $868,310 r A, .ndll9bmle, S.11,111.1 , payroll 13.11 mrd banoLte 56,923 1,601 46,297 18,167 10.242 133,230 130.386 No Vin, Payable - - 40,413 - - 40,413 44,802 IntcmA Pyab,c 124,733 2W.797 13,259 - - 374,789 382,966 U01u liabilities 22,402 135.733 57 614 - 15,808 141.315 I X" ed othtr funds 1450,852 - 4,181 1,717 193441 1607,191 820,330 Uue c, oths gcvd,n-c,, 169 133202 - - - 133371 181,468 ` Adranoe Kam other fund, 337,500 - 907,000 39,000 - 1,6]7,500 1,67],51]0 Curmnl orxtion of long-lorm debt 707542 255.000 170,583 - - 1,155125 977,231 r Lon, -herrn dent net of curn, portion Rwanua bonds payable 29,420,407 11,349,403 - - 40769,810 26,832022 Leaseholdre✓Onoe bonds[eya R. 1,898.156 - 278,919 - - 2,1A,075 2.732 190 Cedificates of pa c,c,,at,,a, 1,845600 910.000 525000 - - 3,2W,000 3420650 I� Palmated laddhtl cfosrc and post-clostre nuc cost liabildy - - 815,258 _ - _ - 815,258 913,250 lural haal.hcs 36,473,897 13362,102 2,959760 425,338 20],583 53.428]60 39.124.7]0 L'11�1 011111 COnn,lb.od capital 15 913,834 1,192,526 200.585 - 2394,945 16.3]0]45 Roomed earnings -s-vmllot drnv swvc" 20333 - - - 20,333 26.667 .t nrlscrved 641,195 241.715 (1010,333 (14,5411 066.057 (25F 021)(307454) lora, ffiuid.,arty 1663536'2 -1,4,3n ?c1 ,]21,743) (14541) 166.057) 1],16725] 15b09,458 IIn llI cital-let and l and nrp' 1y $53109259 $14796423 $238,012 $410797 $41,526 $70596,017 $54634]20 95 City of Cape Girardeau, Missouri ENTERPRISE FUNDS COMRINPAG STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE FISCAL YEAR ENDED JUNE W. 1 r.19(f 96 SOLID GCTJ SOFTBALL TOTALS SEWER WATER WASTE COURSE COMPLEX 1995-1996 OPERATING REVENUES Resdenlialcnarges $1431551 $2,260,830 $1,505,335 $- $- $5.197,716 Commencialcharges 930,656 $1,490,410 81,500 - - 2,502,566 Transfer station charges - - 968,751 - - 968,]51 Equipment sales - - - 8,116 - 8.116 Concession revenues - - - 65,064 - 65.064 Go" course fees - - - 349,256 - 349,256 Softball mmploxfees - - - - 24,973 24,063 Other fees and charges 32,419 195,607 33,881 - - m,ao7 Other miscellaneous 39,098 3,315 7.319 935 12 97,679 TOTAL OPERATING REVENUES 2,433724 3,950,162 2596,786 423,371 24,075 9,428,118 OPERATING I XPENSES Personnd services 732,746 73,085 823,836 191,872 120,508 1,942,047 Materials and supplies 85,537 123.124 47518 42509 8,625 307,313 Conlraduel scrv,11 211,569 2.W4 803 1,005.374 31,254 1.342 3.614,342 G,xu l oparating expensed 23,977 169,632 25.960 42344 616 2 2.7N SI>'cialp oleets expense 44400 - 161,301 6,212 4.691 216,604 Ill smic T.X,Ises 124,325 31,575 153,140 41]88 864 351,692 Depreciation expense 744,078 3451323 205,167 52.476 4,832 1,351.876 TOTAL OPERATING EXPENSES 1966,632 3,107,542 2422,296 408,455 141,678 8.046603 OPERATING INCOME (LOSS) 467.092 842,620 174490 14916 (117,603) 1.381,515 NON-OPERATING REVENUE (EXPENSES) In1em511nmmo 998,726 180,744 69,665 2,140 -- 1,251,275 State grants 2,707 - - - - 2.707 I erY,al yank 509 - 14624 - - 15.133 .,, c of recd assets - - 111,935 - - 111,935 Compensalion fordamagos 2,445 5,122 1,314 - - 8,881 Can oa sale of sacu rides 3.478 - - - - 3,478 lance G09am IXti7ation (46,790) (22,812) (10,053) - - (79,655) II:" I'll and handlin, costs (118693 (772.556) (118,637) _(22214) 16,775) 12_17.1701 TOTAL NON-OPERATING REVENUE (EXPENSES) (225 912) (609.972) 68,848 _(20,074) (6.776)93,416 INCOME (LOSS) BEFORE OPERAT ING TRANSFERS 241,180 233.118 243,338 (5,158) (124,379) 588099 Operalinq tellin _ - 45,000 - 45.000 NLI INCOME (LOSS) 2a1,180 233,118 2,13,338 39,842 (124,379) 633,099 III-.IAINEU EAHNING!n UE -1 ICR), JULY 1 ,160.348 8,597 (1,253,671) (54,383) (41678) (860 787) RLTAINEU EARNINGS (DEFICIT), .MINI:10 5721528 $241,715_ .($1010,333) _A$14541 __J$1;6605>1 X2246881 96 Ctty of Cepe GUmtleeo, Mleeourl ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS FOR THE FISCAL YEAR ENDED JUNE W. 1996 r r 97 SEWED WATER SOLID WASTE GOLF COURSE SOFTBALL COMPLEX TOUTS 1996-1998 CASH FLOWS FROM OPERATING ACTIVITIES: r 0pae6n94cdn. (ties) $W= 5642.620 $174AN STIA16 (5117,603) 51,361515 AOprtmeme to Rcozue operating bcome in ret®.h FseeiSed by 0paefin9 ec9vibs: DapedNMn 71,070 345,323 205.167 52.476 4,692 1.MI,876 Onshc onxif, granIs receved 3216 - 14.624 - - 17,840 r Change 0 eueN end LIMIT,, QrcreeM decreaea In eco .ra Ioi (65.692) 2M,171 23,519 480 - 2"087) OmnmuIe) oleomse in irrvonWy - 46.109 - 1220 - 4].361 (Incr®ed decrmse in prepaid Ilam. 44,042 (33545) 2,]39 299) (91) 12646 e(deemise) in accdurb payable 101.362 (71,128) 85.671 (2.415) 394 193.664 r :mc ncrmss (decreeee) M acaued liebili4W 669,063 (15.086) (5007) 4,310 145042 7W,092 Ino..Idecreeee7 N WIntfil Paetlo.ure. coati (9].9921 (9],9921 NET GSH PROVIDED BY (USED IN) OPERATING r ACTIVITIES 2,042,961 6]9163 403,181 70,_676 3,429,356 _33`3]4 - CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Op fin9b (ws in lrwn Wer lunds 45,000 - 45,000 NET GSH PROVIDED BY (USED IN) BY NONCAPITAL FINANCING ACTIVITIES 45.000 45,000 r CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Proc &tend lopere 185,840 - - - - 156.840 Primoal paid m revmou bonds (16,000) (901S86,I) Pdndpal lnd mleeee purchase bond. (423.505) - (133;646) - - (592311 r Pnmpel pato m COP (75.000) - (35.000) - - (110.000) Pdnclpai peld on Other oblllptions (3.103) (45.0200 (4,389) - - (52519) Inter Wt pool on bona end oblgNbu (459.]83) (619.020) (122.507) 22214) (6."6) 01 4.3ro) " PmcenS in MpBN rants sece"d MGM Sona govem mems 56,017 242816 - - - 290.035 PUOheN of ftedeeveb (2.709241) (680,439) (1",638) 84,]05) (28,596) (3,750,619) r P,...de Ro In revenue bane - 0,701015 - - - 8)01,015 Proceeds tan ME Issuance 13,26].W] - - - - 1326],80] Pluoeade from sal a of e.ene - - 167,044 - - 167,044 T..W band payable 200.085) 401,6&9 201,591 - - 0 Othm 2,445 5,122 1.314 795 (2) 9,674 NET CASH PROVIDED BY (USED IN) CAPI TAL AND RELATED FINANCING ACTIVITIES 9.382.112 30.712 (506420)i( 06.124)31 33]4) 7,8!15,4& ye CASH FLOWS FROM INVESTING ACTIVITIES: Pvche.e of IrMrtmer25 2.589112) (2.`. 90,112) Pr0ceeda tan cele of Imesynenoo 2X2,510 19,406 - - - 3019.946 IMse.t on lmeNmeM. 600.427 180,982 69,994 2,140 853.543 r NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 942.055 300300 69,994 2,140 - 13233" INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 12,367,928 256,639 (33.245) 11,692 - 12603214 r CASH AND CASH EQUIVALENTS, JULY 1 1$576,168 I_444,948 76563 34,50) - 15,811579 CASH ANO CASH EQUIVALENTS, JUNE 30 525944096 51]01]8] 5]22318 46592 L29 414,793 .. r NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES: C0nLbutims d!nerd easels 5249,670 $'127992 - - - 54776X r r 97 Cay of Cape Girardeau, Missouri SEVVERFUND SCHEDULE OF REVENUES AND EXPENSES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 98 VARIANCE FAVORABLE BUDGET ACTUAL _ (UNFAVORABLE) OPERATING REVENUES Residere, l charges $1,392,000 $1,431551 $39,551 Ccauu. cia' charges 900,000 930,656 30,656 Otlrar fees and cherges 35,000 32,419 (2,581( Otlrer reacelloncous _- =000 39,098 34,098 TOTAL OPERATING REVENUES 2,332,000 2,433,724 101724 OPLHATING EXPENSES Personnel services 732,007 732,746 (739( Macrldsand vpplics 110,570 85,562 25,008 ConUaclual scrvices 230,316 200,645 29,670 General operating expenses 46,269 23,977 22,292 Special projects expense 44,000 71,360 (27,360( Internal service expense 97.047 124,325 (27,278( Capital outlay 14,823,950 5,166,520 9,657,430 TO I AL OPERATING EXPENSES 16.984,159 6,405,136 9.679,023 OPERATING INCOME (LOSS( (13,752,159( (3971,412) 9.780,747 NON-OPERATING REVENUE (EXPENSES) Inlmesl income 138,750 998,726 859,976 Sac grants 125,000 5,399 (119,601) Fedorol grants 592,000 53.834 (538,166) I rnpacl fees 200,000 165,840 (34,160) Compensation for damages - 2,445 2,445 Gain on sale of securities - 3,478 3,478 Proceeds of SRF bonds 12,000,000 13,535,000 1,535,000 Principal payments (506,685) (663,585) (156,900) ,paicost paid (370,100) (301,372) 68,728 nt, t erdhandhp, costs ___J597,65O 073,1587 124,492 TOTAL NON-OPERATING REVENUE (EXPENSES) 11,581,315 13,326,607 1,745,292 NFT INCOML (LOSS) ($2,170,8441 _$9,355,195 $11,526,039 98 r City of Cape Girardeau, Missouri WATER FUND SCHEDULE OF REVENUES AND EXPENSES— BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 99 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE( OPERATING REVENUES Residential charges $2,277,000 $2,260,830 ($16,170) Commercial sharers 1,429,000 1,490,410 61,410 Other fees and charges 144,000 195.607 51,607 011ier, miscellaneous 5,000 _ 3,315 (1,685) TOTAL OPERATING REVENUES 3,855.000 3,950,162 95,162 OPERATING EXPENSES Personnel services 74,268 73,085 1,183 Malcrids and supplies 73,300 125,057 (51.757) Contractual services 2,406,078 2,367,989 38,089 Generd operating expenses 190,131 169,632 20,499 Internal service expense 27,326 31,575 (4,249) Capital outlay 2,299,500 796,875 1,502,625 TOTAL OPERATING EXPENSES 5,070,603 3,564,213 1,506.390 OPERATING INCOME (LOSS) (1,215.603) 385,949 1,601.552 NON—OPERATING REVENUE (EXPENSES) Im-tod.ncome 114,250 180,744 66.494 State grants — 15,921 15,921 Federal grants 729,750 235,542 (494,208) Dcvcloper contributions — 18,897 18,697 Compensation for damages — 5,122 5,122 Proceeds of refunding bonds — 8.892,947 8,892,947 Payment to refunded bond escrow agent — (8,711,864) (8,711,864) Principal payments (145,000) (305,000) (160,000) Issuance cost paid — (179,737) (179,737) Interest and handling costs (781,450) (783,908) (2,458) TOTAL NON—OPERATING REVENUE (EXPENSES) _ 82,450 (631,336) (548,886) NET INCOME (LOSS)$( 1 298053) ($245,387) $1,052_`66 99 City of Cape Girardeau, Missouri SOLID WASTE FUND - SCHEDULEOFREVENUES AND EXPENSES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL _)UNFAVORABLE) e OPERATING REVENUFS Residential charges $1,490,000 $1,505,335 $15,335 - Commercid charges - 81,500 81,500 Transfer station charges 870,325 968,751 98,426 Other lees and charges 72,250 33,881 (38,369) 011ier miscellaneous 2.500 7.319 4,819 TOTAL OPERATING REVENUES 2,435,075 2,596,786 161,711 OPERATING EXPENSES Personnel services 833,392 832,267 1,125 Ni and srpplias 53,254 52,289 965 O0nlractual services 1010,223 1,007.816 2,407 General operating expenses 53,430 27.460 25,970 - Special projects expense - 259,865 (259,865) rnlnmal scrvlce expense 208,293 153,140 55,153 Capital outlay 394,550 337,895 56,655 TOTAL OPERATING EXPENSES 2,553.142 2,670,732 (117,590) OPERATING INCOME (LOSS) (118,067) (73.946) 44,121 NON-OPERATING REVENUE (EXPENSES) - Interestincome 12,500 69,665 57,165 Federal grants - 14,624 14,624 Compensation for damages - 1,314 1,314 She of fixed mesal, - 111,935 _ 111,935 Principal payments (168,700) (168,646) 54 Interest and handling costs (124,550) (123,073) 1,477 TOTAL NON-OPERATING REVENUE (EXPENSES) (280,750) (94,181) 186.569 - SILT INCOME (LOSS) $398817 ($168_127) _$230 690 100 - ax City o/ Cape Girardeau, Missouri GOLF COURSE FUND SCHEDULE OF REVENUES AND EXPENSES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 101 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) OPERATING REVENUES Equipment sees $10,000 $8,116 ($1,884) Concession revenues 64,000 65,064 1,064 Golf course lees 380,650 349,256 (31,394) OMer miscellaneous 935 935 TOTAL OPERATING REVENUES 454,650 423,371 (31,279) OPERATING EXPENSES Personnel services 221,001 191,872 29,129 Meerialsand vipplics 56,131 43,308 12.823 Contactual services 30,807 31,024 (217) Genas' operating expenses 50,335 42,344 7,991 Special projects expense 5,000 6,212 (1,212) Internal service expense 38,124 41.788 (3,664) Capital outlay 77,100 83,907 (6,807) TOTAL OPERATING EXPENSES 478.498 440,455 38,043 OPERATING INCOME (LOSS) (23,848) (17,084) 6,764 NON-OPERATING REVENUE (EXPENSES) Interest income 1,000 2,140 1,140 Interest and handling costs (26,100) (22,214) 3,886 TOTAL NON-OPERATING REVENUE (EXPENSES) (25,100) (20,074) 5,026 INCOME (LOSS) BEFORE OPERATING TRANSFERS (48,948) (37,158) 11,790 Opmaing Vanslers in 45,000 45,000 NEI INCOME (LOSS) ($3,948) 57.842 $11790 101 City of Cape Girardeau, Missouri SOFTBALL COMPLEX FUND - SCHEDULEOFREVENUESAND EXPENSES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) OPLHATING REVENUES Equipment sues $1,000 $- ($1,000) r Concession revenues 30,000 - (30,000) Sohbell complex tees 47,000 24,063 (22,937) ON ar miscellaneous 12 12 Y TOTAL OPERATING REVENUES 78,000 24,075 (53925) OPERATING EXPENSES Personnel services 177,274 120,508 56.766 Malmldsend supplies 18,531 10,407 8,124 Conlmclual services 34,723 1,742 32,981 Genoia operalin9 expenses 20,639 816 20,023 Special projects expense 6,000 4,637 1,363 -` Internal service expense 12,600 864 11,736 Capital outlay 16,500 26,596 (10,096) TOTAL OPERATING EXPENSES 286,467 165,570 120.897 .. OPERATING INCOME (LOSS) (208,467) (141,495) 66,972 NON -OPERATING REVENUE (EXPENSES) _ Interest and handling costs (6,776) (6,776) TOTAL NON-OPERATING REVENUE (EXPENSES) (6,776) (6,776) NET INCOME (LOSS) ($208,467) ($148,271) $60,196 102 c M R INTERNAL SERVICE FUNDS Data Processing Fund - to account for data processing services for all City departments and various functions. Financing is provided from assessed charges for the use of data processing p equipment, computer supplies, and personnel services. p Fleet Management Fund - to account for the maintenance of the municipal Fleet. Financing r is provided from assessed charges from departments for fuel, parts, and labor. Employees' Fringe Benefit Fund - to account for partial cafeteria benefit plan and financing the refund of LAGERS contributions to employees. Risk Management Fund - to account for self-insured workmen's compensation coverage for City employees. Financing is provided from assessed charges to departments based upon levels of risk. F' L C 103 THIS PAGE IN'T'ENTIONALLY LEFF BLANK. 104 r 105 r City of Cape Girardeau, Missouri INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET r June 30, 1996 (Willi Comparative Totals for June 30, 1995) r Employees' Data Fleet Fringe Risk Talus Processing Management Benefit Management 6-30-96 6-30-95 r ASSETS Cash and cash equivalents $199,850 $96,515 $1,027,336 $850,577 $2,174,278 $1,551,225 Investments - - - 279,952 279,952 630,088 r Interesthc es,sble - - - 3,600 3,600 10,541 other iecelvablca - 8,386 80,810 16,125 105,321 87,287 Invmrtodis, - 9,465 - - 9,465 8,416 Prepaid items 9,454 2,048 -. 60,789 72,291 91.276 r _ 209.304 116,414 1,108,146 1,211043 2,644,907 2,378,833 r Property. planl and cgulpmcnt Land - 37,500 - - 37,500 37,500 Buildings - 416,109 - - 416,109 416,109 imPiOVe"ent, Olney buildings - 27,206 - - 27,206 27,206 r Equipment 1,052,225 203,365 - - 1,255,590 1,034,210 Consb net in... on, Las - 77,697 - 77,697 22,377 1,052,225 761,877 - - 1,814,102 1,537,402 r Less accumulated depreciation 612,484 322,667 - - 935,151 791.467 439,741 439,210 - - 878,951 745,935 Total assets _$649045 $555624 $1108146 $1,211,043 $3,523858 $3,124768 r LIABILITIES AND FUND EQUITY Accxinls payable $26,017 $59762 $208,126 $271,543 $565,448 $464445 Acaucd lijbilille5 r Salaries, payroll taxes and benefits 3,945 24,559 - - 26,504 25798 Other llabitllles - 3,284 2,214 -____ 5498 44 Tul nl IiaOililics 29,962 87605 _ 210340 277543 599450 _ 490287 r Retained eat brags Unl c'e ved 619,083 468,019 897,806 939,500 2,924,408 2,634 481 r Total fund equity 619,083 468,019 897806 939,500 2,924,408 2,634481 Tidal Iiabililics and land equity $649045 $555,624 $1,108,146 $1.211,043 $3,523,858 $3,124,768 r r 105 City of Cape Girardeau, Missoun 4 INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, FXPFNSES AND CHANGES IN RETAINED EARNINGS FOR THE FISCAL YEAR ENDED JUNE 30, 1996 IBE W EMPI DYFF_S' e DATA FLEET I°HINCF RISK TOTALS PROCESSING MANAGEMENT BENEFIT MANAGEMENT 1995-1996 OPERATING REVENUES Inlerdepartmenlal services $259000 $810,495 $1,146,431 $625,170 $2,841,036 Other miscellaneous 12,283 12283 TOTAL OPERATING REVENUES 259000 810,495 1,158,714 625.1]0 2,&53,3]9 OPEHATING EXPENSES Personnel services 67232 372,296 102260 - 541]88 Materia ,unl supplies 6863 250976 - - _ 265,839 Contmetual service s 77,571 146602 1,W5, 156 259,124 1,568,453 Genoml operating expenses 326 1,034 - - 1.420 nlernal se expenses - 3,I 3 - 3,063 Depmcimion expense 113,384 30298 143682 TOTAL OPERATING EXPENSES 265,376 812,329 1,187416 259,124 2,524,245 OPERATING INCOME (LOSS) _-_(6.376 R s34) (28702) _ 366.046 329,134 NON-OPERATING REVENUES (EXPENSES) Inlemsl income 16,920 4.201 65,149 50.169 136459 Sl e s of food a ... ts - 57 - - 57 Interest and handling costs (2,223) (2.223) TOTAL NON-OPERATING REVLNUES (EXPENSES) 16920 2035, 65.149 50,189 134293 INCOME (LOSS) BEFORE OPERATING TRANSFERS 10.544 201 36447 416,235 4(13 427 Operating trensle,s out _ - _ _Al 73.500) (I 73 500) NTLI INCOME (LOSS) 10,544 201 (137,053) 416,235 289927 RETAINED EARNINGS (DEFICIT), JULY 1 608539 467,818 1 034659 523,265 2.63D 481 RETAINED EARNINGS (DEFICIT), JANE 30 $619,083 $488,019 $897,806 $939,500 $2924408 .� IBE W f CRY of Cep. Okerdnau, Mi—un INTERNAL SERVICE FUNDS I COMBINING STATEMENT OF CASH FLOWS ` FOR THE FISCAL YEAR ENDED JUNE W. 19% EMPLOYEES. DATA FLEET FRINGE RISK TOTALS PROCESSING MANAGEMENT BENEFIT MANAGEMENT 1995-1996 CASH FLOWS FROM OPERATING ACTIVITIES: Opaaling So.$) 863]5) ($I.W4) (523.702) 5356046 $329,135 AQ Wmentsto town We operating income to ret ust pr.,o ed by o,.tbg aotivN.s: Depretltlbn 113,364 39298 - - 143,682 CMnge in a.f.b sod lbbl ldbM Ona..)&.fe In acwunlamcavebb - 3)2] (16,495) (3279) (18.N6) (Ina aee) dactWtse In insentary - 11,(H6) - - (I D49) (Inoreese)mcease in prepaid nems 14269 (782) 5400 4% 18,985 I...e(d.t.) in...nt. payable 18.489 13,2% 19,407 49.812 101404 " lncr w(d anmse) In accrued lebliilief IP72 4,674 2214 e,163 NET CASH PROVIDED BY(USEO IN) OPE MTI NG ACTIVITIES 140839 48.530 (18,5]6) 413,078 SSL871 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Oparetln9 hens 9M to otba hinds (173$00) (173$(W) NET CASH PROVIDED BY (USED IN) NONCAPITAL FINANCING ACTIVITIES DI3$00I (1735001 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES: InfereMpsid onboMMand Obligations - (220]) - - (2207) PNoNeee of load awt. (219M3) (57,650) - - (276698) Principal paid on otber obligations - (235) - - (235) Proceeds tom sale do,.. - 57 - - 57 ONa (1,764) 128 (1636) NET CASH PROVIDED BY (USED IN) CAPITAL AND RELATED FINANCING ACTIVITIES1(2 9443) (61,]99) - 129 (2W,719) CASH FLOWS FROM INVESTING ACTIVITIES: r PMdrse of lmeNments - - (507400) - (500407) Proceeds it.. Mile of imeMmenta - 100,000 750,000 - 8W,OW LMere.t on ln.d.da 16.920 6,133 70,102 50,196 141,401 NET CASH PROVIDED BY (USED IN) INVESTING r ACTIVITIES 16,920 10611&1 320,102 50,196 493,401 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (61239) 92914 125026 463.402 623,053 r CASH AND CASH EQUIVALENTS. JULY 1 261,139 3801 899.310 35),1)5 1$51225 CASH AND CASH EQUIVALENTS, NNE 30 $199,850 $96515 ;102)316 5850.5]] 52.1]42)8 THE NOTESTO THE FINANCIAL STATEMENTS ARE AN INTEGRA PARI OPTHIS STATEMENT. 107 City of Cape Girardeau, Missouri ... DATA PROCESSING FUND SCHEDULE OF REVENUES AND EXPENSES— BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) OPERATING REVENUES Interdepartmental services $269,428 $259,000 ($10,428) TOTAL OPERATING REVENUES 269,428 259,000 (10,428) OPERATING EXPENSES Pcrsannol services 73,149 67,232 5.917 Mamdals and supplies 5,277 6,803 (1,526) ConaacW al services 81,128 77,271 3,857 Genera' operating expenses 2,374 326 2,048 Capital outlay 222,147 232,189 _10042) TOTAL OPERATING EXPENSES 384,075 383,821 254 OPERATING INCOME (LOSS) (114,647) (124,821) (10,174) NON—OPERATING REVENUE (EXPENSES) Interest Income 7,500 16,920 9,420 TOTAL NON—OPERATING REVENUE (EXPENSESI 7,500 16,920 9.420 NET INCOME (LOSS) _($107,147) ($107901) ($755) 108 City of Cape Girardeau, Missouri FLEET MANAGEMENT FUND SCHEDULE OF REVENUES AND EXPENSES— BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 1:11111041 r. OPERATING REVENUES Interdepartmental services $849,405 TOTAL OPERATING REVENUES 849,405 OPERATING EXPENSES Personnel services 414,235 Matearis and supplies 264,140 Conhhclaal services 175,465 General operating expenses 1,338 Internist service expense 3,627 Capital Out ey 12,000 TOTAL OPERATING EXPENSES 870,805 OPERATING INCOME (LOSS) (21,400) NON—OPERATING REVENUE (EXPENSES) Ince rest income 10,000 Sale Of fixed assets — Inmrest and handling costs r TOTAL NON—OPERATING REVENUE (EXPENSES) 10,000 INCOME (LOSS) BEFORE OPERATING TRANSFERS (11,400) Opera)ing tmn$fers out _ 100,000 NET INCOME (LOSS) ACTUAL $810495 810,495 372,296 259,079 148,197 1,094 3,063 62,100 845,829 (35,334) 4,201 57 (2223) 2.035 (33,299) $33 2991 VARIANCE FAVORABLE (UNFAVORABLE)_ ($38,910) (38,910) 41,939 5,061 27,268 244 564 (50,100) 24,976 (13,934) (5,799) 57 (2,223) (7,965) (21,899) 100 000 $78,101 City of Cape Girardeau, Missouri EMPLOYEES' FRINGE BENEFIT FUND � SCHEDULE OF REVENUES AND EXPENSES— BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE _BUDGET ACTUAL (UNFAVORABLE) OPERATING REVENUES nterdepadmentel services $823,782 $1,146,431 _ $322,649 Other miscellaneous — 12,283 12,283 TOTAL OPERATING. REVENUES _ 823.782 1,158_714 334,932 OPERATING EXPENSES Personnol services — 102.260 (102260) Gommcwal mrvicce 761,279 1,085156 (323.877) y TOTAL OPERATING EXPENSES 761.279 1,187,416 (426,137) OPERATING INCOME (LOSS) 62,503 28,7021 (91,205) Y NON -OPERATING REVENUE (EXPENSES) Interest income 45.538 65,149 19,611 101 AL NON—OPERATING REVENUE (EXPENSES) 45.538 65.149 19,611 INCOME (LOSS) BEFORE OPERATING TRANSFERS 108,041 36,447 (71,594) 1-0,,e .,,t (173,500) (173.500) NLI INCOME (LOSS) ($65459) _A$137053) ($71 594) 110 City of Cape Girardeau, Missouri RISK MANAGEMENT FUND SCHEDULE OF REVENUES AND EXPENSES - BUDGET AND ACTUAL (BUDGET BASIS) FOR THE FISCAL YEAR ENDED JUNE 30, 1996 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE OPERATING REVENUES nlordeparlmenlal services $670,1A $625,170 ($45,007) TOTAL OPERATING REVENUES 670,177 625,170 (45,007) OPERATING EXPENSES Contractual services 790,000 259,124 530,876 TOTAL OPERATING EXPENSES 790,000 259,124 530,876 OPERATING INCOME (LOSS) (119,823) 366.046 485,869 NON-OPERATING REVENUE (EXPENSES) Inmmsl income 20,000 50,189 30,189 TOTAI. NON-OPERATING REVENUE (EXPENSES) 20,000 50,189 30,189 NET INCOME (LOSS) _($99,823) $416,235 $516058 TRIS PAGE INTENTIONALLY LEFT BLANK. r R I I I AGENCY FUNDS Library Fund - to account for a separate tax levy of $0.16 per $100 assessed valuation for the �u Cape Girardeau Public Library. r Arena Improvement Fund - to account for assets held for the A.C. Braise Foundation for improvements to the A.C. Braise Arena Building, a multi-purpose facility. Deferred Compensation Fund - to account for assets held for employees under the City's deferred compensation plan Section 457. Park Development Foundation Fund - to account for assets held for the Park Development Foundation for development and/or improvements to parks within the City. I L r L 11 THIS PAGE INTENTIONALLY LEFT BLANK. 114 115 City of Cape Girardeau, Missouri AGENCYFUNDS COMBINING BALANCE SHEET June 3q 19% (With Comparative Totals for June 30, 1995) ev Park Arena Deferred Development Totals library Improvement Compensation Foundation 6-30-96 6-30-95 �. ASSETS i Cash and cash equivalents $386,250 $25,372 $— $87,283 $0.98,905 $4 ,,[M Investment. — — 1,596,987 — 1,598,987 1,215,923 RecevaNes, net of allovances for doub recelvabe. Real idete lax 16,256 — — — 16,256 16,828 " personal propenytax 2,825 — — — 2,825 2,576 Other receivable. 7,806 — 7,604 753 Total assets 5413,135 $25372 $1,598,987 $ 52.124 ]77 $1,658516 r IJABIUTIES Account. payable $21.251 $0 $— $0 $20,251 $8,033 Accrued liaWlities Salaries, payroll tax.. and bereft. 10,620 — — — 10,620 11,408 Othertlebilities 307,264 25,372 — 87,263 419,919 368,152 Advance from other fund. 75,000 — — — 75,000 75,000 Deferred compensation due empioyees 1,598,987 1,598,987 1,215,923 Total RaWitiea $413.135 525.3]2 X159898] $6]283 52.1247]7 $1.W8.516 r r 115 116 Gfy of Can. CJruae .. .1.... i CpABMINO STATEMENT OF CHANGES IN AEPE AND LM&LIMES ALL AGENCYFDNOS FOP THE FISC V TEAP ENDED ADNF R 119E Perk Mene Delmea Cewlmmml ubary Improwmem CumpeeeeEun F ... u.1- Tolek ASSETS , E,un-1 uobewN^Iml. wa.aes SuP'. w sJz.fa sea: to Imealmenb 0 0 +]IS.StE 0 1315,PSJ PrceME., net a.lwenu 1v awbWl l«eNmbe MelummW 1698 0 Isp2B .-uP 00 29B 0. I—,N !E. ]SJ 0 0 75J T1.1 m[eb R July 1. 1005 iJ1J,NC EIS yla E1�Sfi 6LB EGEWum Ceii.nd mbewNWnb wM. .5R w 457.N w".10 I.. 0 0 .'Wi,p3l 0 341,D9. hcehabbe. nel aelwen— fo acubWlr Hebb. Iaslmbb to Jz>2.t 0 0 .12. P ono ,o,ndyW 0 00 1W.BBI Obw+eceNebb. 0 0 1]8]i TaN.eewnn. nple� _sza _srz Wim. wyxe s1 0WI®f_ mn.wN.bnm w10.e35 f96.VA w .21fY0Ju xn I—tm lmwimmb o 0 0 o 0 b Pocdwbb[. net a.favenc« iv nabWlrteNmbe 0 0 . De—W n Poncnel popeeyW 1N,E12 0 0 0 1.. 10).9.2 Otle ncehabb. � 0 0 0 TNlaebllm. X011 X09 w s2zn fly . anJaw m.n.wNNw. EJ%2p0 fawn w s9]taJ ueeJ9s Imwtffldimmb o 0 1.See.m] b 15BB,B0T Ca:ubl,l netanfo.ancw Im NAW.«Numb. H.I«mW W 01e25e .on.lww«1rte. z. 2..0 0 2Pu aw rxeNebb[ x_60. 0 0 0X80. Ta.l u.N. 9 June 30. IP09F1�105 fa.arz �y15�w$61 072Bl RI2,`>]] MODDIES elac.ey J Ab e 1 1995 lnym VA. WN N, EPP. w0 -nmpD SNN.Mb,lbe Se ua ena bmeRm 11AW 0 0 0 11 AW IMblllun. 1iP,J.2 B2]]0 0 32 D. 319.152 hom [Ter Maf A...A.. ]5pW 0 0 ]SOW Cebina wmpene.tlm dun empla)m .-d 0 0 1,x15,02) 0 1,215,Bz2 T. I.M. YJulY t. 1WSs�J _812 yPA $12,19. W_la E1 sp`. MnW9N_ A<canbpwbb E2@101 w).RJ w E1&5 1290919 u..lbblllk. S pMtf la-al0 banlM1e Jp]. 0 0 21)51 . CNanceklb[ J]35B0 15).1 hom Mx Mee 0 0 0 0 0 DN.,ma mmpmfeticn eu. emvmyes OnEned o o BIW. o Jaffe. T. dn..- $141, W .7. 11285p51 Q91M1®E A¢anb gysbk sf9P,]at SB].8]P w #]) 1257,888 A—dN June Sebhs.I°yroll —ena 214= 0 0 0 214,52 dh«hblllbe 29].8]0 51.1]9 12.W4 J2 A.c. no. Mer Mea 0 0 Cebrrea compenvd— eu. emplowee o 0 0 0 T.N eebllm. EE]yna SIS'l9 w 52501 $7.,. Nen NJun 992 Accanb Po'Mb W 1 fA151 E9 w Eu b"A 151 Ac...d MEN.. BM11®, I9f+tll 1@t2l B' 1a b.MPo 10520 0 0 0 IOo. ON,NIbbllbe .7] 25572 0 872W • ATence hom Mer lunba 75pW 0 0 ]SpW Ceb,m a camv.nse2m nue emPluym 0 01y6,P9] 1.588.98] TaN n.blro. N Ju n. .. IBe9 1115.98 w]zBJ b112♦2�`>n 116 R R 4 GENERAL FIXED ASSETS ACCOUNT GROUP 117 THIS PAGE INTENTIONALLY LEFT BLANK. 118 City of Cape Girardeau, Missouri SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE June 30, 1996 GENERAL FIXED ASSETS Land Buildings Improvements other than buildings Machinery and equipment Contruction in progress TOTAL GENERAL FIXED ASSETS INVESTMENT IN GENERAL FIXED ASSETS BY SOURCE General fund Special revenue funds Capital projects funds TOTAL INVESTMENT IN GENERAL FIXED ASSETS $2,073,938 3,853,591 2,061,078 1,686,375 4,497,538 $14,172,520 $4,262,030 2,895,748 7,014,742 $14172,520 City o/ Cape Girardeau, Missouri SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY June 30, 1996 CAPITAL OUTLAY Generd capitd Improvements Park improvemanls TOTAL CAPITAL OUTLAY TOTAL GENERAL FIXED ASSETS 10,000 1,462,554 583,335 497 4,497,538 6,553,924 354,141 41,155 ]5,521 470,817 364,141 1,503709 658.856 497 4,49],538 7.024]41 $2073938 $3,853591 $2,961.0]8 $1686_375 $4497538 $14172,520 120 Improvements Machinery Conatractwrr Other Then and in Function end Aclldty Lead Buildings Buildings Eguipment Pre 1=1- ADMINISTRATIVE SERVICES City manager $200,000 $121,321 $- $3,184 $- Inlerdepertmentd 67,340 - - 27,779 - Finanre - - - 1,426 - CVB - - - 4,265 - Airpon 354,649 202,892 1,396,959 252,043 TOTAL ADMINISTRATIVE SERVICES 621,989 324,213 1,396,959 288,697 DEVELOPMENT SERVICES Planning services - - - 7,127 - Insprrhon se - - - 917 - Errgineering servers 53,129 TOTAL DEVELOPMENT SERVICES 61,173 PARKS AND RECREATION Pruk rn ialeaance 855,238 219,620 - 129,635 - Arma maMsrsnce - - - 1,208 - Rcucation - - - 602 - Cemetery 4,120 - - 36,890 - Cenlral pool - 652,634 - 4,880 TOTAL PARKS AND RECREATION 859,358 872,454 173,215 PUBLIC SAFETY Municipal courl - - - 576 - Heallh - - - 15.417 - Police 17,500 262,400 - 145,755 - Flre 210,950 890,]2] 5,263 628,135 TOTAL PUBLIC SAFETY 228,450 1,153,215 5,263 789,883 PUBLIC WORKS Strerl - - - 294.608 - Stormwater 78,302 TOTAL PUBLIC WOHKS 372,910 CAPITAL OUTLAY Generd capitd Improvements Park improvemanls TOTAL CAPITAL OUTLAY TOTAL GENERAL FIXED ASSETS 10,000 1,462,554 583,335 497 4,497,538 6,553,924 354,141 41,155 ]5,521 470,817 364,141 1,503709 658.856 497 4,49],538 7.024]41 $2073938 $3,853591 $2,961.0]8 $1686_375 $4497538 $14172,520 120 se City of Cape Girardeau, Missouri SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - By FUNCTION AND ACTIVITY FOR THE FISCAL YEAH ENDED JUNE M. 1996 se 121 General Fixed General Flied •' Assets Depreciation Assets Function and Activity June 30, 1995 Addilons Deductions Expense June 3D 1996 ADMINISTRATIVE SERVICES ya Coy mane,., $333,017 $1,]82 $- $10.294 $324,505 IntemdepNmental 70,531 28,757 - 4.169 95,119 Firenca 399 1,295 - 266 1,426 1 CVB - 4,641 - 376 4,265 ` Airport 2,103,447 249,219 - 146,123 2,206,543 TOTAL ADMINISTRATIVE SERVICES 2,507,394 285,694 161,230 2,631,658 DEVELOPMENT SERVICES l� Planning services 9,023 14,061 - 15.977 7,127 Inspection services 2.300 - - 1.383 917 1 Engineering savices 19.566 39,910 6.347 53129 TOTAL DEVELOPMENT SERVICES 30.889 53,,991 23,]0] 61,173 PARKS AND RECREATION " Park maintenance 1,203,723 58,813 - 56,043 1,204,493 Arena maintenance - 1,335 - 127 1,208 Recreation 841 - - 239 602 Cemetery 17,755 29.690 - 6.435 41,010 Canvas pool 686,548 - - 28.834 657,714 Capsha pool 108 108 TOTAL PARKS AND RECREATION _ 1,908.975 89,838 93,786 1,905,027 PFULIC SAFETY r Municipal court 712 - - 136 576 Heap, 14,938 4,175 - 3,696 15,417 Police 454,449 8'160 28,162 W,7N 425,743 ' Fire 1.637.736 232,874 9'IXXI 45,535 1,735.075 4. TOTAL PUBLIC SAFETY 2,107,835 317,209 118,162 130,071 2,176,811 PUBLIC WORKS Street 363.024 3,800 - 72,216 294,608 Svtrmearx 77,924 22,230 21,852 78,302 TOTAL PUBLIC WORKS 440,948 26,030 94,068 372,910 CAPI I N. OUTLAY General capital Improvements 3,192,566 3,444,044 - 82,666 6,553,924 Park Improvements 45'743 28,001 7,927 4]0,81] I OTAL CAPITA OUTLAY 3.643,309 3,472.045 90,613 7,024,741 101 AL GLNPI IAL FIXED ASSETS $10,639350 $4244,807 $1181162_ $5934]5 $141]2520 se 121 THIS PAGE INTENTIONALLY LEFT BLANK. 122 0 j I A 0 m A r f GENERAL LONG-TERM DEBT ACCOUNT GROUP 123 THIS PAGE INTENTIONALLY LEFC BLANK. 124 City of Cape Girardeau. Missouri SCHEDULE OF CHANGES IN LONG-TERM DEBT FOR THE FISCAL YEAR ENDED JUNE 30, 1996 125 General General Lang -term Long-term Debt Debt July -1 _19995 Additions ReNrefronls June 301996 GENERAL LONG-TERM DEBT Leasehold revenue bonds payable $11,822,639 $- $1,607,769 $10.214,870 Certificates of participation payable 3,460,000 - 135,000 3,325,000 General obligation refund',ng bonds payable 3,690,000 - 300,0W 3,390,000 Accrued bene0ts 542,349 3,642 - 545,991 Due to other governments -State energy loan .81841 TOTAL GENERAL LONG -TERM DEBT $19596,829_ 3,642 2042769 1755,5 125 City of Cape Girardeau, Missouri STATEMENT OF GENERAL LONG—TERM DEBT JUNE 30, 1996 AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG—TERM DEBT LEASEHOLD REVENUE BONDS Amount available In debt service fund $1,950,860 Amount to be provided 8,264,010 $10,214.870 CERTIFICATES OF PARTICIPATION Amount available in debt service fund 446,570 Amount to be provided 2,878,430 3,325000 GENERAL OBLIGATION REFUNDING BONDS Amount available in debt service fund 562,064 Amount to be provided 2,827,936 3,390,000 ACCRUED BENEFITS Amount available in debt service fund — Amount to be provided 545,991 545,991 DUE TO OTHER GOVERNMENTS—STATE ENERGY LOAN Amount available In debt service fund — Amount to be provided 81,841 81,841 TOTAL AMOUNT AVAILABLE AND TO BE PROVIDED $17.557 702 GENERAL LONG—TERM DEBT PAYABLE Leasehold revenue bonds payable $10,214,870 Certificates of participation payable 3,325,000 General obligation refunding bonds payable 3,390,000 Accrued benefits 545,991 Due to other governments—State energy loan 81,841 TOTAL GENERAL LONG—TERM DEBT PAYABLE $17,557,702 126 14 R A A A A I STATISTICAL SECTION (Unaudited) The statistical section provides a broader understanding of the City by providing trend data and nonfinancial information useful in assessing the City's financial affairs. 127 THIS PAGE INTENTIONALLY LEFT BLANK. 128 Table 1 City of Cape Girardeau, Missouri General Governmental Expenditures by Function (1) Last Ten Fiscal Yeas Fiscal Administrative Development Parks and Public Public Debt Yea Services Services Recreation Safety Works 3 Continoencv Service Total 1986-87(2) 969,750 618,098 1,045,786 4,164,347 1,414,776 65,367 613,532 8,891,656 1987-88 1,055,997 718,982 1,134,990 4,451,365 1,299,737 55,044 977,739 9,693,854 1988-89 1,122,119 789,039 1,145,262 4,484,535 1,419,112 30,076 992,980 9,983,123 1989-90 1,208,801 753,686 1,177,098 4,770,819 1,462,438 42,730 1,153,562 10,569,134 1990-91 1,359,032 874,407 1,255,895 5,263,571 1,679,583 18,403 1,798,797 12,249,688 1991-92 1,361,523 975,018 1,268,511 5,505,939 1,561,428 133,774 2,727,401 13,533,594 1992-93 1,397,690 1,011,153 1,334,538 5,825,410 1,467,013 20,569 2,736573 13,792,946 1993-94 1,867,788 (4) 1,073,162 1,477,529 6,117,359 1,468,221 232,876 3,799,458 16,036,393 1994-95 2,115,694 1,119,984 1,549,005 6,440,889 1,709,219 123,390 10,430,005 (5) 23,488,186 1995-96 2,307,806 1,335,849 1,717,348 7,052,128 1,720,342 596,916 2,960,200 17,690,589 (1) Includes general, special revenue, and debt service funds. (2) Effective July 1, 1986 the City converted to an accrual basis of accounting. (3) Beginning with the 1986-87 fiscal yea the sanitation division became the solid waste fund in the enterprise fund. (4) First year to report airport operations as a special revenue fund from previous classification as an enterprise fund. (5) Proceeds from the 1987 General Obligation Refunding Bonds held through an Escrow Agreement were used to retire the remaining $3,510,000 of the 1984 Public Building Serial Bonds. Proceeds from the 1993 General Obligation Refunding Bonds held through an Escrow Agreement were used to retire $3,580,000 outstanding principal of the 1987 General Obligation Refunding Bonds. w 0 Table 2 City of Cape Girardeau, Missouri General Governmental Revenues by Source (1) Last Ten Fiscal Years (1) Includes general, special revenue, and debt service funds. (2) Effective July 1, 1986 the City converted to an accrual basis of accounting. (3) The interdepartmental servicas revenue source was Introduced In the 1990-1991 fiscal year. It accounts for internal services provided by the general fund and charged to capital project and enterprise funds. (4) First year to report airport operations as a special revenue fund from previous classification as an enterprise fund. 1 1 I 1 I I 1 I I 1 I I 1 1 I I I 1 l Licenses Charges Inter- Fines Fiscal and Inter- for departmental and Special Year Taxes Permits governmental Services Services (3) Forfeitures Miscellaneous Interest Assessments Total 1986-87 (2) 7,385,553 457,810 974,332 344,819 - 330,026 158,083 230,662 - 9,881,285 1987-88 7,779,480 535,380 916,155 344,242 - 310,617 150,017 405,631 - 10,441,522 1988-89 8,155,960 528,555 942,439 395,404 - 359,979 113,631 607,861 840 11,104,669 1989-90 8,977,804 529,266 1,022,901 392,708 - 393,207 153,398 661,203 30,505 12,160,992 1990-91 9,782,247 578,505 1,041,474 389,136 $150,380 497,428 123,246 717,629 176,586 13,456,631 1991-92 10,111,747 649,617 1,047,869 425,402 196,777 530,768 101,095 654,111 354,529 14,071,915 1992-93 10,861,889 692,933 1,181,328 498,841 321,811 568,864 95,152 556,385 169,679 14,946,882 1993-94 11,594,887 741,703 1,709,722 (4) 557,611 (4) 461,434 577,296 244,699(4) 765,179 129,955 16,782,486 1994-95 12,379,085 1,059,118 1,569,996 613,537 433,821 501,565 172,677 828,686 268,338 17,826,823 1995-96 14,247,577 892,038 2,284,988 653,930 472,959 553,214 422,656 699,485 71,957 20,298,804 (1) Includes general, special revenue, and debt service funds. (2) Effective July 1, 1986 the City converted to an accrual basis of accounting. (3) The interdepartmental servicas revenue source was Introduced In the 1990-1991 fiscal year. It accounts for internal services provided by the general fund and charged to capital project and enterprise funds. (4) First year to report airport operations as a special revenue fund from previous classification as an enterprise fund. 1 1 I 1 I I 1 I I 1 I I 1 1 I I I 1 l Teale 2A City of Cape Dlrardeau, Missouri Oen oral Governmental Tex Revenues by Source Leet Ten Flood Year. (1) Flra year of tax. (2) Indu dee $129,281 of protested restau rent tax that was rd eased. (3) Indu dee General Uea Tex of 1.00% effective since January 1, 1972, Capitol I mprove menta T ax of.25% e active once January 1, 199' and Tran apo dation Sal ee Tax of .50% effectiye since January 1, 1996. Retroed Real Personaland penaly- Fi.cal Estate Property Spec. Breineee Uti ly Franchise Intangible Sete. Cigarette Delinquent Delinquent Restaurant Hotel/Motel Year Ten Tax Ten Tex Tax T. Tax (3) Tax Tax Tex Tex Tu Total 1986-87 687,772 13,369 11,934 88,856 1,741 12,161 4,014,964 138,729 16,411 $10,437 $337,380 (1) $182,880 (1) 7,385,553 1987-88 702,997 143,559 12,489 87,012 1,841,098 79,846 4,192,724 142,686 23,458 1$634 337,607 203422 7,779,480 1988-89 708,868 141,992 11,081 8,116 1,973,839 30,578 4,474,412 132,029 27,049 11,592 33,728 219,676 8,155,%0 1989-90 748,681 151,091 13,683 89,514 1,962,434 49,115 5,178,744 13,468 27,463 13,172 347,168 23,271 8,977,804 1990-91 758,724 142,393 12854 89,515 1,972,454 48,904 5,972,714 13,787 46,862 9,851 35,589 23,600 9,782,247 1991-92 784,970 185,615 12,725 93,185 2,072,360 47,772 6,114,747 130,876 34,687 12,950 373,492 24,368 10,111,747 1992-93 821,142 19,752 14,153 97,022 2,183,015 13,872 6,543,935 143,316 26,511 11,607 545,949(2) 261,615 10,861,889 1993-94 883,248 223,000 13,693 85,180 2,273,386 30,280 7,136,046 132,980 56,030 13,742 474,739 272,563 11,594,887 1994-95 92,456 247,457 13,474 9'368 2,153,064 20,455 7,874,994 141,142 40,894 13,084 551,716 30,001 12379,085 1995-96 953,717 287,326 12,901 8,208 2,367,160 14,436 9,477,295 147,655 4618 15,434 539,988 30,839 14,247,577 (1) Flra year of tax. (2) Indu dee $129,281 of protested restau rent tax that was rd eased. (3) Indu dee General Uea Tex of 1.00% effective since January 1, 1972, Capitol I mprove menta T ax of.25% e active once January 1, 199' and Tran apo dation Sal ee Tax of .50% effectiye since January 1, 1996. (1) Effective July 1, 1986 the City converted to an accrual basis of accounting. (2) First year to reserve for long—term advances in the general fund. The amount of $898,713 for advances was reserved in the 1989-90 fiscal year. 132 City of Cape Girardeau, Missouri Ratio of Unreserved Fund Balance to Annual General Fund Expenditures Last Ten Fiscal Years Table 3 Ratio of Unreserved Fund Unreserved General Balance to Fiscal Fund Fund General Fund Year Balance Expenditures Expenditures 1986-87(l) $2,852,584 7,063,570 40.4% 1987-88 3,124,149 7,577,762 41.2 1988-89 3,088,528 7,382,098 41.8 1989-90 1,992,935(2) 7,881,702 25.3 1990-91 2,464,301 8,714,069 28.3 1991-92 1,420,082 9,136,541 15.5 1992-93 1,990,374 9,971,064 20.0 1993-94 2,706,048 10,601,281 25.5 1994-95 3,389,310 11,266,151 30.1 1995-96 3,448,231 12,604,145 27.4 (1) Effective July 1, 1986 the City converted to an accrual basis of accounting. (2) First year to reserve for long—term advances in the general fund. The amount of $898,713 for advances was reserved in the 1989-90 fiscal year. 132 r r r r r. r F r r r ., r r_ r r Table 4 City of Cape Girardeau, Missouri Property Tax Levies and Collections (1) Last Ten Fiscal Years (1) Includes general, health special revenue, and debt service funds. (2) Effective July 1, 1986 the City converted to an accrual basis of accounting. Ratio of Ratio of Total Current Percent of Delinquent Total Total Tax Outstanding Delinquent Taxes Fiscal Tax Tax Current Taxes Tax Tax Collections to Delinquent to Total Year Levy Collections Collected Collections Collections Total Tax Lew Taxes Tax Levy 1986-87 (2) 929,087 914,997 98.5 16,411 931,408 100.2 53,605 5.8 1987-88 948,762 933,568 98.4 23,458 957,026 100.9 37,768 4.0 1988-89 967,235 938,978 97.1 27,049 966,027 99.9 27,645 2.9 1989-90 1,018,061 989,286 97.2 27,463 1,016,749 99.9 31,950 3.1 1990-91 1,040,879 990,631 95.2 46,862 1,037,493 99.7 39,124 3.8 1991-92 1,084,642 1,063,768 98.1 34,687 1,098,455 101.3 58,707 5.4 1992-93 1,136,655 1,117,914 98,4 26,511 1,144,425 100.7 64,251 5.7 1993-94 1,216,769 1,191,429 97.9 56,030 1,247,459 102.5 39,987 3.3 1994-95 1,289,903 1,264,281 98.0 40,894 1,305,175 101.2 46,970 3.6 1995-96 1,357,167 1,327,252 97.8 38,618 1,365,870 100.6 46,025 3.4 (1) Includes general, health special revenue, and debt service funds. (2) Effective July 1, 1986 the City converted to an accrual basis of accounting. City of Cape Girardeau, Missouri Assessed and Estimated Actual Value of Property (1) Last Ten Fiscal Years Railroad J lHiiifles Personal Property an Assessed Real Property Assessed Fiscal Assessed Estimated Year Value Actual Value 1966-87 161,046,740 679,354,504 1987—Be 165,169,530 695,638,943 1988-89 168,896,360 712,464,089 1989-90 177,847,160 758,796,447 1990-91 181,700,520 781218,704 1991-92 184,638,910 800,147,228 1992-93 188,596,010 817,839,873 1993-94 195,809,200 852,174,495 iv 1994-96 203,600,210 885,796,434 1995-96 208,809,260 921,384,881 City of Cape Girardeau, Missouri Assessed and Estimated Actual Value of Property (1) Last Ten Fiscal Years Railroad J lHiiifles Personal Property an Assessed Estimated Assessed Value Actual Value Value 29,644,440 88,942,214 20,464,762 29,846,401 89,548,158 20,611,933 30,598,682 91,805,227 20,331,289 32,833,100 98,509,151 20,697,281 34,178,924 102,547,027 20,663,803 40,378,970 121,149,025 21,491,906 42,075,080 126,237,863 21,918,755 45,126, 875 135,394,164 17, 950,900 51, 733,340 155215,541 19,113,775 61,421,730 184283,508 18,527,925 Total Estimated Assessed Estimated Actual Value (2) Value Actual Value 63,303,666 211,155,942 831,600,384 63,749,439 215,627,864 848,936,540 62,861,839 219,826,331 867,131,155 63,949,694 231,377,541 921,255,292 63,844,663 236,563,247 947,610,394 66,308,774 246509,786 987,605,09 68,043,238 252589,845 1,012,120,974 55,617,612 258,886,975 1,043,186271 59,180,091 274,447, 325 1,100,192,066 57,404,953 288,758,915 1,163,073,342 (1) Property within the City is assessed by the Cape Girardeau County Assessor. The Missouri Revised Statutes require property to be assessed at the following percentages of estimated appraised value: personal property, 33113%; commercial real estate, 32%; residential real estate, 19%; and agricultural real estate, 12%. Currently all real estate within the City Is revalued by to County Assessor every two years. (2) The estimated actual value for railroad and utilities Is based upon state and local assessments of 32% for commercial real estate and 331(3%for personal property. Table 5 Ratio of Total Assessed Value To Total Estmaleo Actual Value 25.39 25.40 25.35 25.12 24.96 24.96 24.96 24.82 24.95 24.83 1 1 I 1 I 1 1 I I 1 1 1 1 1 1 1 1 I i Table 6 City of Cape Girardeau, Missouri Property Tax Rates Direct & Overlapping GovemmeMs (1) Last Ten Fiscal Years (1) All tax rates are presented per $100 of assessed valuation. `� I'9 Fiscal Year Ending June 30 1987 1988 1989 19W 1991 1992 1993 1994 1995 1996 City Tax Rates: City Revenue $0.30 $0.30 $0.30 $0.30 $0.30 $0.30 $0.31 $0.32 $0.32 $0.32 Debt Service 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0,10 0.10 0.10 Health 0.04 0.04 0.04 0.04 0.04 0.04 OA4 0.05 0.05 0.05 Ubrary 0.14 0.14 0.14 0.14 0.14 0.14 0.15 0.16 _0.16 0.16 Total City Tax Rate 0_58 0_580_58 0`58 0_58 0.58 0.60 0.63 0_63 0.63 School District 2_36 2_92 2.84 2_85 2_87 2.87 2_86 2.88 -2.83 --2.46 County Tax Rates: Road/Bridge 0.25 0.25 0.25 0.25 0.25 0.26 0.26 0.27 0.27 0.28 Mental Health O,07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.08 Sheltered Workshop 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.08 Senior Citizen - - - - - 0.05 0.05 0.05 0.05 0.05 County Health OAO 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 Total County Tax Rate O49 049 0.4_9 6_49 0.49 0L55 0_55 0.56 0_56 0_59 State 0.03 ......6.03 0_03 0_03 0.03 0_0.3 0_03 0.03 0_03 00^03 Total Tax Rat10 for all Overlapping CavemmeMs _V 46 3.56. $1.02 9.94.01 .05 $4.09X4.08 .13 (1) All tax rates are presented per $100 of assessed valuation. `� I'9 136 City of Cape Girardeau, Missouri Principal Taxpayers June 30, 1996 Table 7 — 1995 Percentage of Assessed Total Assessed — Taxpayer Type of Business Valuation Valuation Lone Star Industries Cement manufacturer $5,926,510 2.16% Dana Corporation Auto part manufacturer 5,718,690 2.08 West Park Partners, LP Retail leasing 3,893,710 1.42 —' Mid—America Hotels Hotel Indus" 2,461,550 0.90 Health Services Corp. of America Group medical supplies purchasing firm 2,241,160 0.82 Wal—Mart Stores, Inc. Retail discount stare 1,980,375 0.72 Cape Retirement Community, Inc. Retirement homes 1,658,010 0.60 West Park Associates Retail leasing 1,522,290 0.55 Drury Inns Incorporated Hotel industry 1,472,640 0.54 LC Realty Incorporated Retail discount store—Lowes 1.346,700 0.49 $28.241,635 10_30 % 136 r Table 8 City of Cape Girardeau, Missouri Computation of Legal Debt Margin June 30, 1996 Assessed Value $288758 915 Legal Debt Margin Debt limitation -20 percent of total assessed value $57,751,783 Debt applicable to limitation: Total bonded debt $3,390,000 Less: Debt service available for repayment of general obligation bonds 557,477 Total debt applicable to limitation 2,832,523 Legal Debt Margin $54,919,260 137 Table 9 Citycf Cape Girardeau, Missouri Ratio of Net General Obligation Bonded DeU To Assessed Value and Net General Oblge0on Bonded Data Por Capita Lest Ten Fiscal years (1) Date provided by the Misaoud Census Data Came, Raoel year 1990 is based on the U.S. Census Bureeu 1990 fire) census. Other years are based on Bureau of the Census local Population estimate reports. (2) From Table 5. (3) Gross banded debt does not include revenue bonds. (4) Amount available to service the general obligation bonds. (5) Proceeds from the 1987 General Obligation Refunding Bonds held through an Escrow Agreement wore used to mbmthe remaining $3,510,(0 of the 1984 Public Building Serel Bonds after pdacipel payment on November 1. 1994. Proceeds from the 1993 General ONigation Refunding Bonds held thmWh an Escrow Agreement were used to retire the $3,5(,00 outstanding pdncipel of the 1987 General Obligation Refunding Bonds on November 1,194 (6) Population estimate provided by the City Plonni ng Depadment. 136 Rollo of Net Bonded Grose Less Debt Debt Payable Net Debt to Net Bonded Fiscal Asseseed Bonded Service from Escrow Bonded Assessed Debt per Year Population (1) Value Debt 3 Fund 4 Account (5) Debt Value Caplan 1996-W 34,360 211,155$42 4,]80,000 319,805 - 4,400,195 2.08 128 1987-88 34260 215,627,664 8,240,000 213,857 $3510,(0 4,516,143 2.09 132 1999-9 34260 219,826,331 8,110,000 433,M 3,510,000 4,166,223 1.90 122 1f)BEI-( 34,438 231,3]]541 ],W0,0( 550.(3 3,510,( 3,9)9,397 1.9 114 1990-91 34,438 23,563247 ],82,0( 558,832 3,510,000 3,]51,188 1.59 1 1991-9 35.047 246,59,786 ],660,0( 598,316 3,5100( 3,551,624 1.44 101 1992-9 35.047 252,589,645 11,1]5,0( 409.461 ],(0,000 3,675,539 1.46 106 193-94 355( 258,886,975 10,985,(0 269,498 ],(0,000 3,85,502 1.40 102 1994-95 35,500 2]4.44],325 3,690,000 542,572 - 3,147,428 1.15 89 195-96 36,701 (6) 288,758,915 3,39,0( 55],477 - 2,832,523 0.98 A (1) Date provided by the Misaoud Census Data Came, Raoel year 1990 is based on the U.S. Census Bureeu 1990 fire) census. Other years are based on Bureau of the Census local Population estimate reports. (2) From Table 5. (3) Gross banded debt does not include revenue bonds. (4) Amount available to service the general obligation bonds. (5) Proceeds from the 1987 General Obligation Refunding Bonds held through an Escrow Agreement wore used to mbmthe remaining $3,510,(0 of the 1984 Public Building Serel Bonds after pdacipel payment on November 1. 1994. Proceeds from the 1993 General ONigation Refunding Bonds held thmWh an Escrow Agreement were used to retire the $3,5(,00 outstanding pdncipel of the 1987 General Obligation Refunding Bonds on November 1,194 (6) Population estimate provided by the City Plonni ng Depadment. 136 Table 10 City of Cape Girardeau, Missouri Ratio of Annual Debt Service Expenditures For General Obligation Bonded Debt (1) to Total General Governmental Expenditures Last Ten Fiscal Years (1) Debt defeasance transactions from the general obligation refunding bonds have been excluded. (2) Excludes bond issuance and other costs. (3) Includes general, special revenue, and debt service funds. 139 Total Ratio of Total General Debt Service to Fiscal Debt Governmental General Governmental Year Principal Interest (2) Service Expenditures (3) Expenditures 1985-86 $250,000 $258,032 $506,032 $9,116,500 5.6% 1986-87 115,000 497,760 612,760 8,891,656 6.9 1987-88 120,000 483,660 603,660 9,693,854 6.2 1988-89 130,000 468,660 598,660 9,983,123 6.0 1989-90 140,000 452,460 592,460 10,569,134 5.6 1990-91 150,000 435,060 585,060 12,249,688 4.8 1991-92 160,000 416,460 576,460 13,533,594 4.3 1992-93 175,000 396,360 571,360 13,792,946 4.1 1993-94 190,000 377,073 567,073 16,036,393 3.5 1994-95 205,000 389,320 594,320 23,488,186 2.5 1995-96 300,000 164,588 464,588 17,690,589 2.6 (1) Debt defeasance transactions from the general obligation refunding bonds have been excluded. (2) Excludes bond issuance and other costs. (3) Includes general, special revenue, and debt service funds. 139 140 Table / i City of Cape Girardeau, Missouri Computation of Direct and Overlapping Bonded Debt General Obligation Bonds June 30, 1996 Net General Percentage Obligation Applicable Amount Bonded Debt to Applicable Jurisdiction _Outstanding Government to Government Direct: City of Cape Girardeau $2,832,523 MOM% $2,832,523 Overlapping: School District County — Total $2832 523 $2 B32 523 140 Table 12 City of Cape Girardeau, Missouri Revenue Bond Coverage Sewer Fund Last Ten Fiscal Years Debt Service Renuiramenis Principal Interest Total Net Revenue Fiscal Gross Operating Available for Year Revenues (1) Expenses (2) Debt Service 1985-86 - - - 1986-87 $1,605,344 $788,172 $817,172 1987-88 1,279,805 902,246 377,559 1988-89 1,347,010 922,194 424,816 1989-90 1,545,702 951,870 593,832 1990-91 2,216,204 1,159,386 1,056,818 1991-92 1,982,273 1,022,360 959,913 1992-93 2,268,065 1,016,684 1,251,381 1993-94 2,478,541 1,065,927 1,412,614 1994-95 2,734,117 1,100,908 1,633,209 1995-96 3,432,450 1,222,554 2,209,896 Debt Service Renuiramenis Principal Interest Total Coverage $25,000 $111,798 $136,798 5.97 25,000 109,548 134,548 2.81 30,000 107,298 137,298 3.09 30,000 104,597 134,597 4.41 35,000 101,897 136,897 7.72 40,000 181,935 221,935 4.33 45,000 261,721 306,721 4.08 20,000 208,574 228,574 6.18 140,000 254,288 394,288 4.14 165.000(3) 926,110 1,091,110 2.03 (1) Total revenues (including interest) exclusive of tap fees. (2) Total operating expenses exclusive of depreciation. (3) Includes $678,287 in accreted interest on capital appreciation revenue bonds. These bonds are intended to be re paid from a capital Improvement sales tax beginning January 1, 2000. 141 Table 13 City of Cape Girardeau, Missouri Revenue Bond Coverage - Water Fund (1) Last Ten Fiscal Years (1) The water utility system was purchased on June 3, 1992. ... (2) Total revenues (including interest) exclusive of tap fees. (3) Total operating expenses exclusive of deprecialfon. _ 14 Net Revenue Debf Service Reouirements .. Fiscal Gross Operating Available for Year Revenues„(21 Expenses (31 Debt Service Pri_,ncioal Interest Total Coverage 1986-87 - - _ _ 1987-88 - - _ _ 1968-89 - _ - - 1989-90 - - - - 1990-91 1991-92 316,400 346,271 (29,871) - - _ _ 1992-93 3,520,448 2242,601 1,277,847 - 667,414 667,414 1.91 1993-94 3,634,153 2,556,518 1,077,635 25,000 760,345 785,345 _ 1.37 1994-95 3,892,461 2,829,225 1,063,236 115,000 759,283 874,283 1.22 1995-96 4,130,906 2,762,219 1,368,687 305,000 756,763 1,061,763 1.29 (1) The water utility system was purchased on June 3, 1992. ... (2) Total revenues (including interest) exclusive of tap fees. (3) Total operating expenses exclusive of deprecialfon. _ 14 r -n C c Cay of Cape arardaau, Missouri Demographic. Statistics Last Ten Fiscal Years (1) From Table 9. (2) Data provided by the Cape Girardeau Public Schools for grades K-12. (3) Data provided by the Missouri Division of Employment Security — Research and Analysis Department. 143 Table 14 Public Fiscal School unemployment Year Po�ulalion / 911MUMOLM Rafe 1986-87 34,360 4,239 5.1 1987-88 34,260 4,340 5.2 1988-89 34,260 4,335 4.8 1989-90 34,438 4,332 6.1 1990-91 34,438 4,418 6.7 1991-92 35,047 4,369 6.1 1992-93 35,047 4,498 6.5 1993-94 35,500 4,423 4.7 1994-95 35500 4,388 4.2 1995--96 36,701 4,413 4.7 (1) From Table 9. (2) Data provided by the Cape Girardeau Public Schools for grades K-12. (3) Data provided by the Missouri Division of Employment Security — Research and Analysis Department. 143 Table 14 Tube 15 City of Cape Girardeau, Missouri Propedy Value and Construction Last Ten Fiscal Years (1) Estimated actual value from Table 5. (2)Scums: Based on building Permits used on a calendar year basis by the office of Planning Services in ehloh values are estimates of the cost of construction provided at Me time of permit Issuance. 144 Property Value (1) Nonresidential Residential Con sbuotion(2) Construction f2) Fiscal Number of Num bar of Year Agricultural Residential Commercial Total Permits ValueaQ rmlte value 1986-87 2,640,167 429.374,368 247,339,969 6]9,354,504 111 10,190,401 436 12,273,129 1987-86 2,008,917 438,716,526 254.913,500 695,638,943 122 10,298,895 307 9,251,568 1988-89 1,926,625 451,590,642 258,946,622 712,464,089 137 12,924,054 338 12,067,087 1989-90 1,856,833 496,894,895 26,044,719 756,796,447 137 12,648,884 143 8,318,426 1990-91 1,935,917 522,325,368 25,957,419 781,218,704 149 17,252,328 147 8,373,182 1991-92 8,180,334 536,708,737 255,258,157 800,147,228 162 23,142,653 209 8,553,435 1992-93 10,345,417 546,489,737 261,004,719 817,839,873 1211 34,246,809 245 13,429,310 1993-94 9,913,250 576,184,526 26,076,719 852,174,495 120 18,341,402 253 14,545,917 1994-95 9,W4,W0 60,356,684 276,135,750 885,796,434 132 18,570,867 299 19,376,681 1995-96 9,313,667 647,874,526 264,196,688 921,384,881 172 29,338,693 252 14,352,844 (1) Estimated actual value from Table 5. (2)Scums: Based on building Permits used on a calendar year basis by the office of Planning Services in ehloh values are estimates of the cost of construction provided at Me time of permit Issuance. 144 Table is Chy of Caw Glrandwu, Mlssoml Miscellaneous Statistics June W. l d?6 Gale of Imprpvabon 606 F:m of of CsuncllrT%rega emofnem Numbs' of ertlpkrymes (a¢lutllnp pollee and Are): Classified Y 43 Exempmpt gp Area Ie squermeas 24.4 Wes of 20261 Assage miles miles of sleet cmmictlm pa year 246 City of C§w Ghadeau I.IH.5 antl servlws: CufMns and Re:eatlm: Parks 25 Perkmwge Gollcourses Swimmingpurls 2 L trraanesin 1 ConvenflonfacllMes 1 Fire cllor Number of Meanspens q cess Nxnba of Ra wenn 61 Number of emergency response was se response 2,466 Number of inspections, cmdm>atl qpq POAw Probeer ofm: Number of stators; 1 Number of personnel and olA�s es Numbs lawv of hwvlolatlons: Ackift ares¢ 3,206 Tra T summonses 4,461 In ns Page 2,964 Sysnam: Sews Sysmm: s of Wesofscallsosawas 190.62 saes Iire mnsluctlm per yea' A%uraNmbw O.qI of of Numbs of Marlene plank 1 Dally averagey In Gallons 4.5 ospacnt Imillionreatm Metlmum fey wwcAy of lBBailert Pont in million gallons 16 Vista System: Avengeaincusa]mers 14,170 Miles of water mains 219.61 Average miles of eater mann per year 3.04 ofnew eebonsconwuLton mmectlms 1]2 172 Dally Gailyeverege nsum In million gallons 4.6 capach of Madmum daily wpecttyof pbrt6ln million gallons 7,0 Facnetlas and se s not Inclutled h fie rupesting entity: Education Number of elemerary schools Pu c 6 Private q Nunba of elemertay p"o sdtool nnsncM 110 Number of secondary solools PutMk 1 Pe Nummbeincr of l Inacl:s pibec scllmPu 1 56 unItsecondary Numb: of unNersltles 1 Hasp erns: Numbs of hmpttais p 149 TRIS PAGE INTENTIONALLY LEFT BLANK. 146 R ro C SINGLE AUDIT SECTION 147 THIS PAGE UYMNTIONALLY LBFP BLANK. 148 I' Begley, Janssen, Young & Birk, LC CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST CAPE GIRARDEAU. MISSOURI 63101 -TELEPHONE (573) 334 2845 -FAX (573) 3344338 r PARTNER r JOHN R. JANSSEN. CPA JENNIFER WESTRICII. CPA W TERRY R. BEGLEY, CPA JEFF UNTERnEINEP, CPA LAWRENCE E. YOUNG, CPA CATHERINE WHITE KELVIN W BIRK, CPA INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri r We have audited the generalpurpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1996, and have issued our report thereon dated November 26, 1996. These general purpose financial statements are the responsibility of City of Cape Girardeau, Missouri's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of Office of Management and Budget Circular A-128, "Audits of State and Local. Governments." Those standards and OMB Circular A-128 ` require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on .. a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements, An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement. presentation. We believe that our audit provides a reasonable basis for our opinion. +r Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements of the City of Cape Girardeau, Missouri taken as a whole. The accompanying schedule of r federal financi. al assistance is presented for purposes of additional analysis and is not a required part of the general purpose financial. statements. The information in that schedule has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to The general purpose financial statements taken as a whole. ` BEGLEY, JANSSEN, YOUNG & BIRK, LC Cape (, i rardeau, Missouri November 26, 1996 ` 149 City nl Cape mrerdaaC Iu. MIM I" 9CN ED VLE OF FepBML FIYANAL A9919TAKE June ]C. 1996 _ Federal Granto[/Pae,-Through Grantor/Title Pedes] GFDA M,, ,]or Pmgt,ma: 2II,054 D npa [[mart nlc 1 10.5141 c ]ev, 1.1-1 A.lniet[atl On 460,000 ( 16.)401 Sudden and 9e ve re Economic Dl al oc at ion tmplemen to t ion p[o Jett 5,1)8 r Plant Yl 11.10] 425,750 Ha,teuater Treatment Plant Access 6 Povac Supply 11.)01 163,]5] 9pr199 9t rest El a ve tl on 11.107 Total Department of commerce - Major Pro,tam l 18.]981 C epe[LmenC ofOefenae 400,110 J.9. A[mY Cg r pe of Rnglnee ce 19,150 ( IS B. 8211 Flgpd CoI, Iol p[o]et[ 12.106 - Total U.S. Department of Defense (111031737) of - n.w rcaz ion S61,005 Fe I'. lc pv l a t ion Adminla[[at 1pn ( 11.6981 Alr t [mpro ve rant P1 J-29'001]'0] 20.106 o Al cpoe Flre Protection AIR 9JSl7A AIR 20.106 11,666.7]21 Total Department of Trane Po rtatloc Major 203,289 e I f t e Interior 100,255 ),199 Env t'ro�weKalDP -'Mc[lon Agency 5,159 patted TrhougD Ml,eou rl Oepe rtm ant of natural Resources 3,]96,856 6RF Loan 9erle9 1951A C295004 01 66.456 SPF La an 9e rle, 199JA C29500d02 66.60 1 305.1631 SPF h n Be [l e, 1995D 039533901 66.650 11,413 SEF Loan Seri ,a l916n Q95329 00 66.450 2,20,772 Total Department Of Lhe In Lerlor Major Pfo9 rams ( 206,0611 iota] Ma]o[ P[o9 [am, nom Ma]or Pro9 ram a: 391050 Depaament of Mouel nq ane Uroan DeyeloP mart ( 12],4191 Pa seed fD ro oqh MS..ourl Department of Econonlc Devetopmen[ 2), Comnonity Deve lopmeneBlook Grant 6,4421 94'141 I1 Wcust/Maple 14.319 261,596 94 DR 096 FIOIdBuyout p[�nam 610,387 191-0F 29 1 I 0.en tal R. 14,210 ,I.sedthough Missouri Department of R -1.19e cvl tea 30,958 Ter, arty Shelter Grant 14.331 Total Mtuoi ng and D,E.n D,velopmen4 pfogram 8e lana Revenue Die Dur eeme rte/ Balance Amount July 1, 1995 Recap nixed 8xpenditu June ]0, 1996 729 750 ( 1,16]1 2II,054 109,405 1 10.5141 )93,000 460,000 ( 16.)401 4,]0] 106,111 5,1)8 189,511 1 11 Ji51 425,750 1 ]1941) 163,]5] 1 18.595) 319,336 _( 62,531) l 18.]981 1 35,450) 400,110 511,481 19,150 ( IS B. 8211 19,150 - 1 (111031737) ( 18,595) S61,005 p,666, 7]21 ( 11.6981 (1,103,727) 563,005 11,666.7]21 203,289 100,255 ),199 5,159 90.295 3,]96,856 ( 23,1011 1,956.2)4 2,310,61] 1 305.1631 11,413 1,959,433 2,20,772 ( 206,0611 391050 162,537 ( 12],4191 17,416 2), B57 6,4421 261,596 610,387 416.6911 30,958 6),]91 349,030 92 B4O19 -f 579,051) 17,051,7051 2,700,571 4, 368,)3] (8.611,4111 162,183 ( 204,)19 284.179 1 I 460,000 ( 1 106,111 189,511 1.4001 171.010 1 18.595) 10,761 10,466 l 18.]981 19,150 ( ) 19,150 19,150 ( 1 ( 18,595) 500,609 501.112 ( 11.6981 1 1 1 I I 1 I I I i i ..: 1- 1 _. / ,. 1 - 1 1 .. ( 1 1_ C", of Cape Cleard eau, Ml .... rl BOBMULE O9 FED EPAL PINJ,Nrl L ASSISTANCE June 30, 1996 decal CPDA Program Balanu P.-nue D1e Eubeme pts/ Balance Federal 0[antor/Pape Through Grantor/Title ..at Amount Jul, 1, 1995 B,,,I"ed R.I.Odlturea jute 10, 1996 "Partmen[ of Tr a na Po6etlon Federal Av 14,inn Adminlatrauon Air Trafflc 9erVlcep ]40,9]9 ]B, ]]l 78.777 Pa as ed [h co ugh MI, sou rl De Pa r[men[ o[ Pupllc Safety Cape C1 ra r0 eau C my C mIDu nl fy Tref (Ic Sa fe [y program IFY'951 20.600 05,150 ( ll, BSD) 0,349 45,915 1 17,116) Cape Clra rd eau County Community Trafflc Safety Program FY'96) 20,600 59,750 18,184 31,063 Team 9pl rlt [on fe re naa :SZ -03-17 10.601 30,000 1],599 13,599 Team 9p 1r1t COnfe[ence 96 YA-03-11 20,601 40,000 30,781 10,78) ,..a od Through SO Mia sou rl Hlghvay and Transportation Department Off Sa tam Bridge Replacement and Rehabliltatlon Proq ram Hopper Road Bridge Prc]ect BRO�BRN-0161181 20.205 31,600 1 1, 2061 1,013 1 11,119) Public Taxl CouPon Transportation Program MO IB -Y015 4CG 20,509 82,070 1 881) ]5,286 146,934 1 172,0391 M0.10 %0164CC 10.509 9B. 181 907 1 9871 National Recres Hanel Trails Punding Program ISE TE Recreational Trail 20.219 49,600 2,404 1 2,404) Total U . D,Plrtmen[ of Tranepor[atlon Non ..let P -S,.. ( 12,91]) 230,078 4111905 ( 216,811) Department of Educa[lon Paaaed through Mlaaoufl Department Of Mucatlan Paaaed th r, ugh Cape Glrardeau puhllc schools 0 r ug Free School a Pr oq r am 01.156 4,000 4 000 15,919 1 11,949, Total Department of E,1-11- 4,000 15.949 ( 11,949) Oepertm en[ 01 J sults uM].sour] Paaaed th mu g h Department o6 Public Safety V lc[Imp of Crime All IPY'951 16.5]5 5,280 1 9]]1 1,207 11519 1 112491 v lculme O[ Crime Act IFY'951 16.57S 5,000 2,680 3,519 1 _ 8391 Total H . Department of jostle. 1 93]) 1807 6,038 1 2,088) Depar ornt Cf [he Interior Federal S.e rg ency Mana qe me nu Agency Emergency Asa l a tante 81.516 1 181099) 169,150 218,314 1 67,121) hazard Mltlgatlon A .Il hence 83.519 762,166 183,871 203.001 1 10,0(9) Bn,l r0nmentaI Pra t ec [l an Agency Paaaed Thr. 191 Mlaeourl Department of Hal -.1 Reeou-as C94 C90. 02 33,962 1 1721 2,525 2,515 1721 Total u.9. r.ractmen[ of Interlor 1 10,1101 355,547 414,780 1 07,503) Total ..I -Mair, Program p 1 60,139) 1.103,121 1,381.44 1 340.082) TOTAL FEDERAL FINANCIAL Ass ISTAHCE 17,112,441 3,811,691 51650,801 (8,951.553) Begley, Janssen, Young & Birk, LC CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST CAPE GIRARDEAU, MISSOURI 63701 TELEPHONE (573) 334 2845 FAX(573)334-4338 PARTNERS JOHN R JANSSEN, CPA JENNIFER W ESTRICH, CPA TERRY R. BEGLEY. CPA JEFF UNTERREINER, CPA LAWRENCE E. YOUNG. CPAINDEPENDENT AUDITORS' REPORT ON CATHERINE A. WHITE NFLVIN W. BIRK, CPA INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri We have audited the general purpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1996, and have issued our report thereon dated November 26, 1996. _ we conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of Che United states. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. _ The management of the City of Cape Girardeau, Missouri is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. In planning and performing our audit of the general purpose financial statements of the City of Cape Girardeau, Missouri for the year ended June 30, 1996, we obtained an understanding of the internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk to determine our auditing procedures for the purpose of expressing our opinion on I.he general 152 INDEPENDENT AUDITORS' REPORT ON v INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS , CONTINUED w purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. Our consideration of the internal control structure would not ,,. necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that errors and irregularities in amounts that would be material in relation to the general purpose r financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. we noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which is a matter of public record. f BEGLEY, JANSSEN, YOUNG & BIRX, LC Cape Girardeau, Missouri November 26, 1996 w r r Y r Y 1 iii Begley, Janssen, Young & Birk, LC CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 TELEPHONE (573) 334 2845 - FAX (573) 334 4338 PARTNERS JOHN R JANSSEN, CPA JENNIFER WESTRICH, CPA TERRY R. BEGLEY, CPA JEFF UNTERREINEH, CPA LAWRENCE E. YOUNG. CPA CATHERINE A. WHITE KELVIN W. BIRK, CPA INDEPENDENT AUDITORS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri we have audited the general purpose financial statements of the City of Cape Girardeau, Missouri as of and for the year ended June 30, 1996, and have issued our report thereon dated November 26, 1996. we conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. Compliance with laws, regulations, contracts, and grants applicable to the City of Cape Girardeau, Missouri is the responsibility of the City of Cape Girardeau, Missouri's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the City's compliance with certain provisions of laws, regulations, contracts, and grants. However, the objective of our audit of the general purpose financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. This report is intended for the information of the City Council and management, of the City of Cape Girardeau, Missouri.. This restriction is noL intended to limit the distribution of this report, which is a matter of public record. BEGLEY, JANSSEN, YOUNG & BIRK, LC 30�, �t� yal�g, > Cape Girardeau, Missouri November 26. 1996 154 Begley, Janssen, Young & Birk, LC CERTIFIED PUDLICACCOUNTANTS 2103 THEMIS ST - CAPE GIRARDEAU, MISSOURI 63701 - TELEPHONE (5]31334@845 - FAX (573) 3344338 r PARTNERS JOHN R. JANSSEN. CPA JENNIFER WESTRICH, CPA TERRY R. BEGLEY. CPA JEFF UNTERREINER, CPA LAWRENCE E. YOUNG. CPA CATHERINE A. WHITE KELVIN W. BIRK. CPA INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING I` FEDERAL FINANCIAL ASSISTANCE PROGRAMS r+ Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri We have audited the general purpose financial statements of the City of Cape Girardeau, Missouri, for the year ended June 30, 1996, and have issued our report thereon dated November 26, 1996. we have also audited the City of Cape Girardeau, Missouri's compliance with requirements applicable to major federal financial assistance programs and have issued our report thereon dated November 26, .. 1996, We conducted our audits in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget (OMS) Circular A-128, Audits of State and Local Governments. Those standards and OMB Circular A-128 require that r we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material. misstatement and about whether the City of Cape Girardeau, Missouri., complied with laws and regulations, noncompliance with which would be material. to a major federal financial assistance program. In planning and performing our audits for the year ended June 30, 1996, we considered the City's internal control structure in order to determine our auditing procedures for the purpose of expressing .. our opinions on the City's general purpose financial statements and on its compliance with requirements applicable to major programs and to report on the internal control structure in accordance with OMS Circular A-128. This report addresses our consideration of internal controlstructure policies and procedures relevant to compliance with requirements applicable to federal. financial assistance programs. we have addressed internal control Structure �+ policies and procedures relevant to our audit of the general purpose financial statements in a separate report. dated November 26, 1996. r The management of City of Cape Girardeau, Missouri, is responsible for establishing and maintaining an internal control. Structure. In fulti.11inq this responsibility, estimates and judgements by management are required to assess the expected benefits and related INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets _ are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles and that federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is _ subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. For the purpose of this report, we have classified the significant internal control structure policies and procedures used in administering federal financial assistance programs in the _ following categories: Accounting Applications Billings Cash receipts Purchasing and receiving Accounts payable Cash Disbursements Payroll General Requirements Political activity Davis -Bacon Act Civil rights Relocation assistance and real property acquisition Federal financial reports Allowable costs/cost principles Drug-free workplace Administrative requirements Specific Requirements Types of services Matching, level of effort, and earmarking Reporting Special tests and Provisions Claims for Advances and reimbursements Amounts Claimed or Used for Matching 156 w INDEPENDENT AUDITORS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING r FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED r For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and determined whether they had been placed in operation, and we assessed control risk. w During the year ended June 30, 1996, the City of Cape Girardeau, Missouri, expended 76% of its total federal financial assistance under major federal financial assistance programs. We performed tests of controls, as required by OMB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with specific requirements, general requirements, and .. requirements governing claims for advances and reimbursements and amounts claimed or used for matching that are applicable to each of the City's major federal financial assistance programs, which are w identified in the accompanying schedule of federal financial assistance. our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. Our consideration of the internal control structure policies and procedures used in administering federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards r. established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a federal financial assistance program may occur and not be detected within a. timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this r report, which is a matter of public record. BE'yGLL�EY, JANSSEN, YOUNG &J BIRK, LC O'S��"'Ut�,%'� Cape Girardeau, Missouri +*' November 26, 1996 Begley, Janssen, Young & Birk, LC CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST - CAPE GIRARDEAU. MISSOURI 63701 -TELEPHONE (573) 334 2845 - FAX (93) 334-4338 PARTNERS JOAN R. JANSSEN. CPA JENNIFER WESTRICH, CPA TERRY R. BEGLEY. CPA JEFF UNTERREINER, CPA 1AwRE Nw AG, cva INDEPENDENT AUDITORS' REPORT ON COMPLIANCE cATHER1NE aWHITE. KELVIN W. BJRK, IRK, CCPA WITH THE GENERAL REQUIREMENTS APPLICABLE TO MAJOR AND NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri We have audited the general purpose financial statements of the City of Cape Girardeau, Missouri as of and for the year ended June 30, 1996, and have issued our report thereon dated November 26, 1996. We have applied procedures to test the City of Cape Girardeau, Missouri's compliance with the following requirements applicable to _ its federal financial assistance programs, which are identified in the schedule of federal financial assistance, for the year ended June 30, 1996: political activity, Davis -Bacon Act, civil rights, relocation assistance and real property acquisition, federal financial reports, allowable costs/cost principles, Drug -Free Workplace Act and administrative requirements. Our procedures were limited to the applicable procedures described in the Office of Management and Budget's "Compliance Supplement for Single Audits of State and Local Governments". Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the City of Cape Girardeau, Missouri's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph of this report. with respect to items not tested, nothing came to our attention that caused us to believe that the City of Cape Girardeau, Missouri, had not complied, in all material respects, with those requirements. Also, the results of our audit procedures did not disclose any immaterial instances of noncompliance with those requirements. This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this treport, which is a matter of public record. BEGLEY, JANSSEN, YOUNG & BIRK, LC ae�, Ck� ylkly, ✓ ce Cape Girardeau, Missouri November 26, 1996 198 M Begley, Janssen, Young & Birk, LC CERTIFIED PUBLIC ACCOUNTANTS 2103 THEMIS ST - GAPE GIRARDEAU. MISSOURI 6=1 - TELEPHONE (573) 3342845 - FAX (573) 334-4338 PARTNERS V JOHN R. JANSSEN, CPA JENNIFER WESTRICH, CPA TERRY R. BEGlEY, CPA JEFF UNTERREINER, CPA LAWRENCE E W cPA INDEPENDENT AUDITORS' REPORT ON COMPLIANCE cATRERwEAWRITE. KELVIN KIRK,IRK,YOUNG,CPA WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS " Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri r We have audited the general. purpose financial statements of the City of Cape Girardeau, Missouri as of and for the year ended June 30, 1.996, and have issued our report thereon dated November 26, 1996. We have also audited the City of Cape Girardeau, Missouri's compliance with the requirements governing types of services allowed or unallowed; matching, level of effort, or earmarking; reporting; special tests and provisions; claims for advances and reimbursements; and amounts claimed or used for matching that are applicable to each of its major federal financial assistance programs, which are identified in the accompanying schedule of federal financial assistance, for the year ended June 30, 1996. I" The management of the City of Cape Girardeau,. Missouri, is responsible for the City of Cape Girardeau, Missouri's, compliance with those requirements. Our responsibility is to express an r opinion on compliance with those requirements based on our audit. 1 We conducted our audit in accordance with generally accepted auditing standards, Government Auditing standards, issued by the Comptroller General of the United States, and OMB Circular A-128, "Audits of State and Local Governments". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain r reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the City of Cape Girardeau. Missouri's compliance with those requirements. we believe that our audit provides a reasonable basis for our opinion. The results of our audit procedures did not disclose any immaterial instances of noncompliance with the requirements referred to above. In our opinion, the City of Cape Girardeau, Missouri complied, in .. all material respects, with the requirements governing types of services allowed or unallowed; matching, level of effort, or earmarking; reporting; various special tests and provisions; claims for advances and reimbursements; and amounts claimed or used for .. matching that are applicable to each of its major federalfinancial assistance programs for the year ended June 30, 1996. 159 INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS - CONTINUED This report is intended for the information of the City Council and management of the City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which is a matter of public record, BEGLEY, JJA�NS/SSE,N�., YOOyUN,G� & BIIR�K, LC _ L�C11rLNj �'a"„"`� l �'rn''�l � .�e.✓ Cape Girardeau, Missouri November 26, 1996 M Begley, Janssen, Young & Birk, LC CERTIFIED PUBLIC ACCOUNTANTS 2IMTHEMISST- CAPE GIRARDEAU, MISSOURI 63701 TELEPHONE t573i 3342845 -FAX (573)3344338 PARTNERS r JOHN R. JANSSEN, CPA JENNIFER WESTRICH, CPA TERRY R. BEGLEY, CPA JEFF UNTERREINER, GPA LAWRENCE E YOUNG. CPA CATHERINE A. WHITE KELVIN IN BIRK, CPA INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH r SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS Honorable Mayor and Members of the City Council City of Cape Girardeau, Missouri r we have audited the general purpose financial statements of the City of Cape Girardeau, Missouri as of and for the year ended June 30, 1996, and have issued our report thereon dated November 26, ` 1996. In connection with our audit of the 1996 general purpose financial statements of the City of Cape Girardeau, Missouri, and with our consideration of the City of Cape Girardeau, Missouri's internal control structure used to administer federal financial assistance programs, as required by Office of Management and Budget Circular A- 12B, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor federal financial assistance programs for the year ended June 30, 1996, As required by ONE; Circular A-128, we have performed auditing procedures to test compliance with the requirements governing types of services allowed or unallowed; and special tests and provisions that are applicable to those transactions. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the City of Cape Girardeau, Missouri's compliance with these requirements. Accordingly, we do ` not express such an opinion. With respect to the items tested, the results of those procedures ++ disclosed no material instances of noncompliance with the requirements listed in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the City of Cape Girardeau, Missouri, had not complied, in all material respects, with those requirements. Also, Lhe results of our procedures did not disclose any immaterial instances of noncompliance with those requirements. W This report. is intended for the information of the City Council and management of Che City of Cape Girardeau, Missouri. This restriction is not intended to limit the distribution of this report, which i..s a matter of public record. BEGLEY JANSSEN, YOUNG & BIRK, LC ..r �7 U (((��..4(4 � tn��7 /,� Cape Girardeau, Aii ssourr Novembor 26. 1996 1F1