HomeMy WebLinkAbout1996-1997.Annual Financial StatementI
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COMPREHENSIVE
ANNUAL FINANCIAL REPORT
of the
City of Cape Girardeau, Missouri
For the
Fiscal Year Ended
June 30, 1997
Prepared by
Finance Department
CITY OF CAPE GIRARDEAU, MISSOURI
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended June 30, 1997
TABLE OF CONTENTS
`
Pa Re
INTRODUCTORY SECTION
r
Letter of Transmittal .............................................
iii-xv
`
GFOA Certificate of Achievement ...................................
xvii
Organizational Chart .............................................
xviii
List of Principal Officials .........................................
xix
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 Fund Types ....................
13
.�
Combined Statement of Revenues, Expenses and Changes
in Retained Eamings-All Proprietary Fund Types .......................
14
Combined Statement of Cash Flows -All Proprietary Fund
`
Types .....................................................
15
Notes to the Financial Statements ...................................
19-59
r Combining, Individual Fund and Account Group Statements
and Schedules:
General Fund:
Comparative Balance Sheet ..................................... 65
Schedule of Revenues and Expenditures -Budget and Actual
(Budget Basis) ............................................. 66
` Special Revenue Fund:
Combining Balance Sheet ...................................... 69
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances.........70
..................................
r
f
V
Payee
Schedules of Revenues and Expenditures-Budget and Actual
(Budget Basis)
Convention/Visitors........................................
71
Airport......................................... I.......
72
Downtown Business District ..................................
73
Parks and Recreation......................................
74
Health................................................
75
Motor Fuel Tax...........................................
76
Capital Improvement Sales Tax -Flood Control Projects ..............
77
Capital Improvement Sales Tax - Water Projects ....................
78
Transportation Sales Tax Trust................................
79
Flood Protection..........................................
80
Vision 2000.............................................
81
Debt Service Fund:
Comparative Balance Sheet .....................................
85
Capital Projects Funds:
Combining Balance Sheet ......................................
89
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances...........................................
90
Schedules of Revenues and Expenditures-Budget and Actual
(Budget Basis)
General Capital Improvement................................
91
Corp Flood Control ........................................
92
Street Improvements.......................................
93
FAU Street Grants.........................................
94
Community Development Block Grant ...........................
95
Park Improvements........................................
96
Water Improvement Projects..................................
97
Enterprise Funds:
Combining Balance Sheet ......................................
101
Combining Statement of Revenues, Expenses and Changes
in Retained Earnings........................................
102
Combining Statement of Cash Flows ...............................
103
Schedules of Revenues and Expenses-Budget and Actual
(Budget Basis)
Sewer.................................................
104
Water..................................................
105
Solid Waste.............................................
106
Golf Course.............................................
107
Softball Complex.........................................
108
Internal Service Funds:
Combining Balance Sheet ......................................
III
Combining Statement of Revenues, Expenses and Changes
in Retained Eamings........................................
112
Combining Statement of Cash Flows ...............................
113
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STATISTICAL SECTION - Unaudited
Page
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Schedules of Revenues and Expenses -Budget and Actual
135
`
(Budget Basis)
136
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Data Processing ..........................................
114
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Fleet Management .........................................
115
'
Employees' Fringe Benefit ...................................
116
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Risk Management .........................................
117
Equipment Replacement ....................................
118
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Agency Funds:
141
r
Combining Balance Sheet ......................................
121
Combining Statement of Changes in Assets and Liabilities ...............
122
'
General Fixed Asset Account Group:
r
Schedule of General Fixed Assets by Source .........................
125
Schedule of General Fixed Assets -By Function and Activity ..............
126
-
Schedule of Changes in General Fixed Assets -By Function
`
and Activity ..............................................
127
General Long-term Debt:
145
`
Schedule of Changes in Long -tens Debt ............................
131
`
Statement of General Long-term Debt ..............................
132
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STATISTICAL SECTION - Unaudited
`
General Governmental Expenditures by Function -Table 1 ..................
135
,.
General Governmental Revenues by Source -Table 2 .....................
136
General Governmental Tax Revenues by Source -Table 2A .................
137
r
Ratio of Unreserved Fund Balance to Annual General Fund
�.
Expenditures -Table 3 ..........................................
138
Property Tax Levies and Collections -Table 4 ...........................
139
Assessed and Estimated Actual Value of Property -Table 5 .................
140
Properly Tax Rates -Direct and Overlapping Governments -Table 6 ............
141
Principal Taxpayers -Table 7 ......................................
142
Computation of Legal Debt Margin -Table 8 ...........................
143
'
Ratio of Net General Obligation Bonded Debt to Assessed
r
Value and Net General Obligation Bonded Debt
per Capita -Table 9 ............................................
144
-
Ratio of Annual Debt Service Expenditures for General
r
Obligation Bonded Debt to Total General Governmental
Expenditures -Table 10 ..........................................
145
`
Computation of Direct and Overlapping Bonded Debt -General
Obligation Bonds -Table Il146
......................................
Revenue Bond Covemge-Sewer Fund -Table 12 .........................
147
Revenue Bond Coverage -Water Fund -Table 13 .........................
148
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Page
Demographic Statistics -Table 14 ................................... 149
Property Value and Construction -Table 15 ............................ 150
Miscellaneous Statistics -Table 16 ................................... 151
SINGLE AUDIT SECTION
Independent Auditors' Report on Compliance
With Requirements Applicable to Each Major
Program And Internal Control Over Compliance
In Accordance With OMB Circular A-133 ............................ 155-156
Independent Auditors Report on Compliance And On
Internal Control Over Financial Reporting Based
on An Audit of Financial Statements Performed In
Accordance With Government Auditing Standards ....................... 157-158
Schedule of Expenditures of Federal Awards ............................ 159-160
Schedule of Findings and Questioned Costs ............................. 161-162 _
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I INTRODUCTORY SECTION
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TIIIS PAGE INTENTIONALLY LEFT BLANK. i
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CM OF CAPE GIRARDEAU
CITYHALL
FINANCE 617
pNCE o
roR Fo AU
� CAPE GIRpgOEAO, M0E
63>02 061]
December 23, 1997
Honorable Mayor, City Council Hill Citizens
City of Cape Girardeau, Missouri
The comprehensive annual financial report of the City of Cape Girardeau for the year
ended June 30, 1997, 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, rests with management of the City. "1'o 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
r single audit, including a schedule of federal financial assistance and the independent auditor
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 "fhe City of Cape Girardeau provides a full Hoge of services including police and fire
p protection, sanitation services, the construction and maintenance of streets, regional amort
operation, and various park and recreation activities and cultural events
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iii.
'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. lAuis, Missouri and 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 35,464 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. In the past five years retail sales have grown at an average rate of 6.35%
per year with this years retail sales exceeding $668,099,000. Major retail establishments that
contribute significantly to the City's economy are: Wal -Man, K -Man, Lowe's, Venture, Sears,
1CPenny, Target, K's Merchandise and Famous -Barr. Additionally, a nese Sam's Club store
opened in April of 1997.
The Cape area has 17 manufacturing frons employing over 100 persons. The two largest,
Lee -Rowan and Proctor and Gamble, employ 1,200 and 1,104, respectively. The area also has
15 nonmanufacturing fimts and institutions employing over 100 persons. The two largest,
Southeast Missouri Hospital and St. Francis Medical Center, employ over 1,400 and 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 early 1997, Alliance Blue Cross -Blue Shield began operation of
a new regional claims center that employs over 200 people. Also in mid 1997, a new 14 screen
Wehrenberg theater opened in the Cape West Business park. _
The City's regional status is also enhanced by Southeast Missouri State University with
an enrollment of approximately 7,800 and an employment of nearly 1,000. The carnpus also
includes the joint City -University owned and operated Show -Me Center, with 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 $15.3 million.
The robustness of the City's economy is further illustrated by growth statistics compiled
from building permit records. For the five calendar years 1991 through 1995, die City averaged
$38,779,722 per year in declared construction costs. Ln 1996, this total reached $47,127,578 and
it is projected that 1997 totals will meet or 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 lite 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 trend is the City's Five -Year Capital Ituprovements Program,
which itself envisions over $86,000,000 in capital invcsuncut in the City's iidrastructure thnxtgh
the year 2002.
iv
Maior Initiatives
Current. 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 $2.9, $3.4, and $0.1 million respectively. Additionally, budget basis
expenditures for improvements and additions to the street system this year totaled approximately
$0.9 million. In the previous two years the City has issued $25,000,000 in sewer revenue bonds
to separate its combined sewer systems and to make other system improvements.
In November, 1996 the citizens of Cape Girardeau approved a $26.5 million water
y. revcmic bond authorization and a twenty year 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 main treatment plant by 2.7 MGD (million gallons per day) to 7.2 MGD
�. and major improvements to storage and distribution facilities.
In the spring of 1997 the City completed and began operations of a new multi -use
recreation/social event building and a softball/soccer complex. Total combined costs of these
additions exceeded $5,000,000. These facilities are expected to have a major regional impact and
' provide a significant boost to the area's economy. Another item of major significance is the State
r of Missouri's Highway Department's $86,000,000 project to build a new Mississippi River Bridge
and four lane highway connection to Interstate 55. The City is intricately involved with this
project. The first section of the new highway was opened in 1996. The second section and new
1-55 interchange was opened in October, 1997. The center span of the bridge is also currently
under construction.
Future. During 1997 the public school system and Catholic parochial school system
initiated construction of new buildings. The public school facilities planned are an elementary
school, a vocational school, and a high school. The high school is dependent on future voter
` approval. The new Notre Dame High School, a regional parochial school, has already spurred
approximately $780,000 in water and sewer capital improvements required to serve their building
site. This location will be annexed into the City in 1998 after their building is completed.
In July, 1997 the City Council adopted a progressive annexation policy and plan which
should result in more rapid expansion of the City into areas needing City services and provide
the framework for better coordinated development. Additionally, two significant housing projects
with a total of 122 units for low mrd moderate income people is expected to begin construction
in 1998.
Department Focus
With new leadership and an innovative approach to crime fighting and team management,
the Cape Girardeau Police Department has been selected this year for its new direction and
accomplishments. The mission of the Cape Girardeau Police Department is to protect life,
property, and the rights of persons; to enforce ordinances and laws; and to preserve peace, order
and safety. In the pursuit of this mission, the Cape Girardeau Police Department has established
a strategy of "no nonsense" street policing and community partnerships. The Cape Girardeau
Police Department has also seen the development of the. proactive "safe streets" program which
has been instrumental in the initiation of over 400 criminal charges during 1997.
The Cape Girardeau Police Department, which is lead by the Chief of Police, is presently
organized into two divisions encompassing field operations and staff services. Additionally, the
Cape Girardeau Police Department is fortunate to have a 30 member reserve police volunteer
program under the direction of the Field Operations- Commander. Recently implemented is a new
police -community volunteer program under the supervision of the Training and Community
Affairs Division. 'these volunteer programs provide invaluable assistance to the 70 swom
officers and 21 civilian employees of the Cape Girardeau Police Department.
As internal programs unfold, the department now embraces the philosophy of team
management which has witnessed the development of the Historical Team; the Awards and
Commendations Team; a Policy Development Team; the Strategic Planning Team; and the
Uniform and Equipment Team. 'llrese employee teams work with the Chief of Police in
developing policy and recommendations, as well as a vision for the future of the Cape Girardeau
Police Department.
Given the public trust and confidence in the Cape Girardeau Police Department, calls for
service continue to increase annually; however, through the department's new strategy of
aggressive enforcement and community partnerships, Cape Girardeau has experienced a decrease
in crimes against persons in 1997. Additionally, through an effective community traffic
enforcement program, traffic crashes in Cape Girardeau have experienced a decline for the first
time in many years.
One of the many highlights this year for the Cape Girardeau Police Department was the
national "Award of Excellence" that was presented to Cape Girardeau's Safe Communities
Program. This prestigious award was the direct result of the department's interaction with over
20 community agencies in addressing community safety pertaining to DWI Enforcement and
other traffic safety issues. As a result of die outstanding program development within file Cape
Girardeau Police Department, employees arc often called upon to provide presentations focusing
Oil our model programs. Public acclaim for the Cape Girardeau Police Department has also been
very positive in 1997, as the agency continues to carry out their responsibilities under their newly
established motto "Commitment to Excellence" -
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Financial Information
F
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 are compiled to allow for the
'µ preparation of financial statements in conformity with generally accepted accounting principles.
` The intemal 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. 'Buis
internal control structure is subject to periodic evaluation by management and the internal audit
staff.
r 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 nonmajor federal financial assistance programs, the audit for the year ended June 30,
1997 disclosed no material internal control weaknesses or material violations of laws and
regulations.
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.
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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, 1997 and 1996.
Amount of
Pcrcent of
Rcvenuta and
1997
Percent of
1996
Increase
haaease
Trenv'f ae
Amount
Total
Amouna(Decrease)
DeA.eaa
Taxes
$16,753,018
599%
$14,247,577
$2,505,441
126%
Liccmecs and peau,
894,697
3.2%
892,038
(7,351)
et 8'%)
hnergovcmmunal
;,062,564
11071
2,284,989
777,576
34.07
Charges fnr scrviati
540,375
199
653,93o
(113,5)5)
(17.19)
I FLrdgpartu¢nl al
459,548
t67
472,959
(13411)
(2R%)
Pines and ellfl WR-1
556,759
2.0%
553,214
3,545
0.6%
Mis,ellaoem,
225,309
0.8%
422,656
(197,347)
(46.7%)
lot, ,A
804,597
290,
699,485
105,112
150`6
SPccialewsmaas
308,721
1.1%
71,957
236,764
329o';
01nratiog trarA.'s in
4,375,731
156%
4075735
29y996
24%
TOTAI,
$ 27,971,309
100.0%
$ 24 374,39
$ 3,596770
The largest dollar change in revenues for the current fiscal year was a $2,505,441 or
17.6% increase in tax revenue. Increased revenue totaling $2,277,425 resulted from two special _
use sales taxes. A one-half per cent transportation sales tax which became effective January I,
1996 resulted in $2,002,747 in additional revenue as result of the previous year not reflecting a
full year of collections. A one-fourth per cent capital improvement sales for water system
improvements became effective April 1, 1997 and produced $274,678 in revenue this year.
Excluding the effects of these taxes, tax revenue would have increased $228,016 or 1.75% over
the previous year.
Other significant tax revenue sources are one per cent general sales tax, one-fourth per
cent capital improvement sales tax limited to flood control projects, franchise taxes, real estate —
and personal property taxes, hotel / motel tax, and restaurant tax. Total general sales tax collected
this year was $6,680,985 which represented 46.3% of total general fund operating revenues and
a 1.25% increase over the previous year's revenue. Previous year's general sales tax revenue was
48.4% of total general fund operating revenues. The one-fourth per cent capital improvement
sales tax increased 1.29% or $21,207 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.
Franchise taxes which represent 16.4% of this year's total general Grad operating revenues
decreased $3,071 or .13% from the previous year. The real estate and personal property tax levy
associated with general, special revenue, and debt service Finds increased to $0.49 from $0.47
per $100 assessed valuation and assec,el valuation increased 5 1 % over die previous ycer. This
resulted in 10.15% m $138,598 increasc in real estate and personal property tar: over the previous
year. _
Other notable revenue changes from the previous year were 34.0% or $777,570 increase
in intergovenunentaI revenue, 174% or .$113,555 ricerease in charges for service, 46 7`Yr or
$197,347 (1ccreasc in miscellaneous revenue, 329.0% or $236,764 increase in special assessnlent
revenue, and 7 4% or $299,996 increase in transfers in.
r Five significant changes occurred in intergovernmental revenue from the previous year.
FEMA and SEMA grants to cover flood related expenditures were not required this year resulting
r in a revenue reduction of $146,420. However, revenues received from FEMA and SEMA did
- increase by $1,049,462 for a flood buyout and relocation grant that had received $369,990 in the
previous fiscal year.'Hie regional airport received no grant funding this year. fn the previous year
it had received a capital grant for $192,406 for purchase of a rescue vehicle and had operating
` grant revenue of $78,777 for operation of the airport's control tower. This grant was eliminated
mid -year last year. Motor fuel tax revenue received from the State increased 12.5% or $104,791
this year as a result of a 12.6% rate increase in these taxes.
The decrease in charges for service resulted front $55,134 in reduced revenue from the
- airpotl restaurant which ceased operations in the previous year and $57,970 in reduced revenue
from engineering fees. fistimared engineering fees are recorded as revunuc when subdivision
or project plans are approved by City Council. When subdivisions or projects are completed
additional charges or refunds paid are credited or debited to revenue.. This year revenue decreased
$26,358 and $31,612 from estimated fees and net additional credits over refunds respectively.
r The decrease in miscellaneous revenue resulted from $200,000 in one-time payments
received in the previous year. The City received $150,000 from Boyd Group upon completion
of a river boat gaming development agreement and $50,000 from Cape Girardeau County to help
r defray the cost of a new rescue vehicle.
The increase in transfers in resulted from increases required to support the airport and
r parks and recreation operations - $95,000 and to provide for additional debt service - $66,996.
A $140,000 transfer from motor fuel tax fund was made to the transportation sales tax fund for
street improvements that in previous years were reported in the motor fuel tax fund.
r
The increase in special assessment revenue resulted mainly from issuance of $346,806
in special assessments for three financed street projects completed this year. Only $11,248 in
- special assessments were issued in the previous year. Although assessments are not recognized
as revenue until the assessment is paid, revenue increased significantly because a good many
people pay all the assessment in year of issuance.
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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, 1997
and 1996.
Amonnt of
11ercoe of
Expoaditures and
1997
Percent of
1996
ffieo. n
Increase
'I raysfe.
Amount
Total
Amonnt
Decrease
Decrease
Coruna
Adouiumatwe services
$ 2,056,865
8.6%
$ 2,307,806
$ (250,941)
(10.92)
Davclopmurt w"'Ce"
1,315,096
5.5%
1,335,849
(20,753)
(1.6'2)
I'arkc and recreation
1,889,093
799
1,717,348
171,745
10.o/
Public s: rely
6,826,153
2849
7,052,128
(225,975)
(32$.)
Pubhcworks
2701,336
112%
1720,342
980,994
57.056
Contingency
1,633,830
699
596,916
1036,914
1737%
Principal
2,178,171
91IX
2,054,647
123,526
6.0%
une,oa and ❑sarl chargee
822,989
3A 5,'
905,553
(82,564)
(9.1%)
Operating transfus out
4_578,429
19.1%_0
5 011 64043(
3 2l l)
(8.6%)
TOTAL
$24.001,964
1000%
$22,702229
$1299735
Effective July 1, 1996 all full time employees of the City were given a I% pay increase.
Additionally, all full time employees were given a $250 lump sum payment in December and
with satisfactory performance received a 2% to 4% merit increase on their anniversary date. 'tile
number of full time and fte (full-time equivalent) employees increased by 12 acid 9 respectively
from prior year's levels of 265 and 310 respectively. Included in these increases are 6 full time
mid 7.5 be employees for parks and recreation, 5 full time and 4.5 fte employees for public
safety, 2 full time and 1.5 fte for developmental services, and 1 full time and I fte for public
works. Three full time employees and 5.5 fte for park and recreation were the result of the spring
1997 opening of the new Osage Park multi -use recreation/social event building. Administrative
had decreases of 2 full time employees and 5 be this year. Administrative totals included a
reduction of 3 full time employees and 6 he as the result of the closing of the airport restaurant
last year. Fach new position did not necessarily equate to a full years expense since full time
employees were added at various times throughout the year.
Also effective July 1, 1996 the City's risk management internal service fund significantly
reduced rates it charged other city departments because of positive loss experience recognized
by that fund since it's inception. As a result of this decrease, workmen's compensation expense
for coverage of governmental fund type employees decreased by $180,447 this year.
The decrease in administrative service expenditures this year compared to last year was
mainly the result of reduced capital expenditures totaling $230,789 and reduced operating
expenditures relating to the Regional Airport restaurant totaling $87,764. Capital expenditures in
the previous year included $180,391 for a rescue vehicle at the airport. The restaurant was closed
during the previous year. Excluding the above items the admiuisuative service expendinues
would have grown 3.4%.
This years decrease in developmental service expenditures resulted from capital
expenditures being S58,547 lower than the previous year. Excluding capital items, expenditures
would have increased 3.01, this year
` Parks and recreation expenditures increased 10.0% over the previous year's level as a
result of operating expenditures associated with the new Osage Park multi -use building, increased
capital outlays and additional personnel. Operating expenditures, including persotmel, at the
Osage Park building were $54,033 for about 3 months of operations. Capital expenditures
increased by $18,589 over the previous year's level. Excluding these two amounts parks and
recreation expenditures still grew at 6.2%. This above average increase reflects the addition of
2 full time equivalent employees above those needed for the Osage Park building.
"I'he $225,975 decrease in public safety expenditures resulted from a $335,907 reduction
in capital expenditures this year. In the previous year, 5 police cars totaling $78,740 and a fire
track costing $183,120 were purchased. This year 6 police cars totaling $91,760 were purchased
by the City's equipment replacement internal service fund and leased to public safety. Lease costs
incurred this year on the 6 cars was $40.802. Excluding capital items public safety expenditures
would have grown 1.6% this year. Public safety's workmen's compensation expense was $121,026
lower this year and helped offset the cost of an additional 5 full time and 4.5 be employees.
Public works expenditures increased 57.0% over the previous year's level as a result of
i street capital expenditures which increased $861,945 this year. The majority of this increase was
recorded in the transportation sales tax fund. Excluding the street capital items, public works
expenditures would have grown 7.7% this year.
r
Contingency expenditures included 4 major items this year- The air conditioner at city
hall was replaced at a cost of $32,735. Grant funded flood buyout and relocation costs of
$1,461,432 were paid. A personal injury lawsuit was settled at a cost of $50,000. A $75,000 loan
made to the Cape Girardeau Public Library in 1986 was forgiven by the City this year.
` The $433,211 decrease in operating transfers out this year was due to decreases in
transfers to capital project funds - $934,450 and increases in transfers to support the airport and
park and recreation operations - $95,000, to support golf and softball complex operations -
$172,100, to provide fiords for the equipment replacement fund - $161,598 and to provide
additional funds for debt service - $72,496. In the previous year the softball complex was
supported by advances from the general fund. This is the first year of existence for the equipment
replacement fund which purchases equipment for the governmental funds and leases it to them
over the life of the asset. Lease payments will be used to purchase replacement equipment in the
future. However, transfers from the governmental fund types are necessary for the initial
purchases.
General Fund Balance. Total brad balance decreased $50,903 this year to $5,407,281.
Unreserved fund balance decreased .$107,789 this year to $3,309,497 or approximately 2 8
` months of the 1997-1998 budgeted general fund operating expenditures and operating transfers
r out. This compares to the previous year's unreserved fund balance of $3,417,286 which was
approximately 3.03 months of the original 1996-1997 budgeted general fund operating
expenditures and operating transters out.
r
r
Xi
r
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 were increased five percent in February, 1997 and major golf course fees
which were increased by live percent hr July, 1996.
'I lie sewer fund operated at a $78,824 profit this year compared to a $241,180 profit the
previous year. Operating revenue decreased 0.4% or $10,604 this year over the previous year.
Operating expenses were 1.0% or $19,190 greater than the previous year. Excluding depreciation
expense, operating expenses actually declined 2.6% or $32,293 this year as a result of internal
service expense decreasing $59,253. A $52,955 reduction in fleet and equipment maintenance and _
repair charges from the fleet management fund trade up most the $59,253 decrease. Both interest
revenue mrd expense increased significantly over the previous year as a result of $13,535,000 in
sewer revenue bonds issued in June, 1996. Major portions of the proceeds of this issue remained
invested during the year awaiting their expenditure.
The water fund operated at a $253,969 profit this year compared to a $233,118 profit the
previous year. Operating revenue only increased 1.5% or $61,781 over the previous year, even
though there have been mid year rate hikes of 3% and 5% in the previous and current years
respectively. Water consumption decreased 3.8% this year reflecting milder temperatures and
wetter weather during the hotter dryer months. Operating expenses were 0.7% or $22,191 more
than the previous year. Excluding depreciation expense, operating expenses actually declined
0.9% or $23,792 this year.
The solid waste fund operated at a $22,991 profit this year compared to a $243,338 profit
the previous year. Operating revenue decreased by $369,628 or 14.2% over the previous year.
This resulted mainly from reductions of $64,089 and $293,115 in commercial and transfer station
revenue respectively. The fund stopped providing commercial service to anyone except other
City departments in August 1995. The transfer station revenue decrease resulted from a loss of
tonnage to a competing transfer station which opened this past year. The loss of towage has
continued in fiscal year ending June 30, 1998. Operating expenses decreased $254,475 or 10.5%
from the previous year. Cotmnercial operation expenses decreased $51,193 this year. The Toss
of tonnage at the transfer station resulted in $207,805 less being paid to the company that hauls
and disposes the City's transfer station trash. Excluding these two items, operating expenses
reuraiucd at previous year levels.
The golf course fund operated at a $18,827 profit this year compared to a $39,842 profit
the previous year. Excluding transfers from the general fund, the golf course would have operated
at 58,827 profit this year and a $5,158 loss last year This improvement was the result of a
$60,075 or 14.2% increase in revenues over the previous year. Major course fees were increased
5% July I, 1997. Operating expense increased $50,094 or 12.2% this year.
xii
r
The softball complex fund accounts for the operation of a 5 field softball complex. This
r
years operation reflected the results of running a fall softball program at other sites and a spring
program at this site attd the costs of maintaining the complex. This year the softball complex
reported a loss before general fund transfers of $188,145. This years results do not reflect a fill]
year's operation at the new complex because the complex was not opened until April, 1997. It
r
is probable the complex will continue to need general fund transfers in the future.
Pension Trust Fund Operations. The City contributes to the Missouri Local Government
r 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
system was created and is governed by state statute. At February 28, 1997, the most recent
actuarial valuation date, the City's actuarial determined unfunded accrued liability was $955,951_
This compares favorably to the unfunded accrued liability of $1,351,654 at the prior valuation
date of February 28, 1996.
r
Debt Administration. At the end of the year, the City of Cape Girardeau had a number
of debt issues outstanding. 17tese issues, net of applicable discounts, included $3,070,000 of
r general obligation bonds, $41,542,609 of revenue bonds, $9,984,337 of leasehold revenue bonds,
and $9,863,914 certificates of participation. This compares to $3,390,000, $41,201,811,
r $12,976,069, and $6,745,000 respectively for the previous year. The City issued $3,430,000 in
certificates of participation on June 3, 1997 for the following purposes: (1) $765,000 to refund
$755,000 series 1990B leasehold revenue bonds (2) $1,345,000 to provide for reimbursement of
r costs required to complete the Osage Park multi-purpose building (3) $445,000 to provide funds
r for the equipment replacement find to purchase a fire truck, street sweeper, and front loader in
the following year (4) $435,000 to provide a portion of the finds the data processing fund will
use to replace the City's current computer system (5) $160,000 to provide fluids to build a park
maintenance building in the following year (6) $280,000 to meet the debt service reserve
requirement of the cenificates. Only $1,558,468 of the bonds currently outstanding will require
use of general fund revenues for their future debt service. 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
r
invested, availability of cash when needed, maintaining a market rate of return, and avoidance
of any investment that Wray impair public mist 91he policy allows City funds to be invested in
t U. S. Treasury issues, U. S. Agency issues, repurchase agreements that are written and fully
V collateralized by the previous mentioned bonds that are delivered to a third party, collateralized
or insured certificates of deposit, an(] money market instruments comprised of the above
r mentioned instrunicnts, The City currently hues all of the above instruments as investnhents for
its operating funds. "file proceeds of bond issues tnay be invested according to their indentures.
r
W
At the end of this year the City's investment portfolio contained $21,218,498 in
investments for funds that were under the City's control and $23,027,685 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: (l) $5,148,394 insured Certificates of Deposit (2) $3,737,761 Repurchase
Agreement - U. S. Government Securities (3) $8,169,288 U. S. Government Securities (4)
$4,163,055 Money Market Account - U. S. Government Securities. Market value of these
securities was $21,191,586 at the end of the year. The investments that could not be controlled
by the City were $20,922,620 in investment agreements used to invest construction funds held
by the State Sewer Revolving Loan program and $2,105,065 in deferred compensation funds
whose investment is controlled by the City's employees.
Risk Management The City has established self-insurance plats for employees' health
insurance and worker's 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. 'file 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 employee safety committee, and conunittee review of all
accidents.
At the end of the year, the retained earring balances of the internal service funds that
account for the health insurance and workmen's compensation plans have retained earnings
balances of $881,353 and $1,132,746 respectively. This compares to $897,805 and $939,499
respectively for the previous year. At the end of the year, liabilities for estimated loss claims of _
$135,194 and $156,939 were included in the balance sheets of the employee fringe benefit and
risk management funds respectively.
Other Information
Independent Audit. The City Charter of the City of Cape Girardeau requires that all _
annual audit be performed by independent certified public accountants. The firm of Begley,
Janssen, Young, & Birk was selected by the City Council to audit the records of the City for the
fiscal year ended June 30, 1997. 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 fire 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 hod 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 haws and regulations concerning
federal financial assistance can be found.
xiv
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, 1996. This is the third consecutive 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 (GAAP) 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 repot 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, 1997 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
v efficiently organized report that will enhance readers in accessing the financial affairs of the City
of Cape Girardeau.
.. Acknowledements. 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.
r 7
Respectfully submitted,
it Michael G. Miller John R. Richbourg
City Manager Finance Director
xv
r
THIS PAGE INTENTIONALLY LEFC BLANK.
xvi
M
I
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Cape Girardeau,
Missouri
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1996
A Certificate of Aciveveriwnt for Excellence in Financial
Reporting is presented by the. Government I=mance Officers
Association of the United States and Canada to
government units and public amployve retirement
systems whose comprehensive annual fmoncwl
reports (CAM) �u:hicvv Iie highest
standards In government accounting
anis hrnur<i.d rcporiinq.
b x �S President
CITY OF CAPE GIRARDEAU, MISSOURI
ORGANIZATIONAL CHART
Litrary
Parks &
Recreation '�
Grounds
' Maintenance � �I
Bui', ding -----
Maintenance
Recreation
Galt
Advisory
Services
Assistant
Works
Resources SeMcas
Finance Water
Uisilors `
Airport
Municipal
Court
Services 11
Engineering
Services
Inspection
Services
I I I 1 I 1 1 1 1 1 1 I 1 1 1 1 1 I 1
CITY OF CAPE GIRARDEAU, MISSOURI
PRINCIPAL OFFICIALS
June 30, 1997
Elected Officials
Mayor
A. M. Spradling III
Councilmember, Zone 1
J.J. Williamson, Jr.
Counciltnember, 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
Appointed Officials
City Manager
Michael G. Miller
Public Works
Public Works Director
Douglas K. Leslie
Administrative 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
Richard L. Hetzel
Fire Chief
Daniel E. White
Parks & Recreation Director
Daniel D. Maser
Development Services
City Planner
Kern M. Bratton
City Engineer
Mark [.Lester
Inspection Services Director
Richard L. Murray
THIS PAGE INTENTIONALLY LEFT BLANK.
xx
FINANCIAL SECTION
E
I
I
THIS PAGE INTENTIONALLY LEFT BLANK.
0
I
I
0
E INDEPENDENT AUDITORS'REPORT
H
H
L7
THIS PAGE INTENTIONALLY LEFT BLANK.
INDEPENDENT AUDITORS' REPORT
ON THE GENERAL, PURPOSE FINANCIAL STATEMENTS
AND SUPPLEMENTARY INFORMATION
0
o Honorable Mayor and Members of the
,., City Council.
City of Cape Girardeau, Missouri
We have audited the accompanying general purpose financial
statements of the City of Cape Girardeau, Missouri as of June 30,
1997, and for the year then ended as listed in the table of
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 financialstatements based on our audit.
r
We conducted our audit in accordance with generally accepted
auditing standards and the standards applicable to financial audits
contained in Csgvernment Audi4.ina 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. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the
general purpose financial statements. An audit also includes
r 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 iasis for our opinion.
r
In our opinion, the general purpose financial statements referred
to above present fairly, in all material respects, the financial
position of the City of Cape Girardeau, Missouri Els of .lane 30,
1997, and the results of it:s operations and cashflows of its
proprietary fund types for the year then ended in conformity with
generally accepted accounting principles.
w
In accordance with warnimeltt Audicing Standards, we have also
issued our report dated November 20, 1997 on our consideration of
r the City of Cape, Girardeau, Missouri's internal controlover
fl,nancial reporting and our tests of it's compliance with certain
provisions of laws, regulations, contracts and grants.
r
i
Begley, Janssen, Young & Birk, LC
CERTIFIED PUBLIC ACCOUNTANTS
•
2103 THEMIS ST
-CAPE GIRARDEAU, MISSOURI 63!01 TLLEPHONE (573) 3342845
- FAX(573)33 4338
U.
PARTNERS
JOHN R. JANS`iEN. CPA
JENNIFER WESTRICH, CPA
TERRY R. BEGLEY, CPA
JEFF UNTERREMER. CPA
LAWRENCE E. YOUNG, CPA
CATHERINE A. WHIT[
KELVIN W. BIRK, CPA
INDEPENDENT AUDITORS' REPORT
ON THE GENERAL, PURPOSE FINANCIAL STATEMENTS
AND SUPPLEMENTARY INFORMATION
0
o Honorable Mayor and Members of the
,., City Council.
City of Cape Girardeau, Missouri
We have audited the accompanying general purpose financial
statements of the City of Cape Girardeau, Missouri as of June 30,
1997, and for the year then ended as listed in the table of
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 financialstatements based on our audit.
r
We conducted our audit in accordance with generally accepted
auditing standards and the standards applicable to financial audits
contained in Csgvernment Audi4.ina 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. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the
general purpose financial statements. An audit also includes
r 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 iasis for our opinion.
r
In our opinion, the general purpose financial statements referred
to above present fairly, in all material respects, the financial
position of the City of Cape Girardeau, Missouri Els of .lane 30,
1997, and the results of it:s operations and cashflows of its
proprietary fund types for the year then ended in conformity with
generally accepted accounting principles.
w
In accordance with warnimeltt Audicing Standards, we have also
issued our report dated November 20, 1997 on our consideration of
r the City of Cape, Girardeau, Missouri's internal controlover
fl,nancial reporting and our tests of it's compliance with certain
provisions of laws, regulations, contracts and grants.
r
i
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 riot 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.
BEGLEY, JANSSEN, YOUNG & BIRK, LC —
3 , y,?4��"�ter,/.Q,1 -
Cape Girardeau, Missouri
November 20. 1997
6
I
I
I
0
GENERAL PURPOSE FINANCIAL STATEMENTS
f
0
I
H
THIS PAGE INTENTIONALLY LEEP BLANK.
ASSETS ANDOTHEN DENIES
Aeam'.
Cel and oeb equbnlmb
b ®O tab
RegaMb�, net of Nlanence for
Ebel bel ns, pamon
Ebel entete, panoral prof
and merAmb taxa
Sde tar
FonMbe We
Ho -motel
eleere
bbntoel,,eU.
UWEy ares Haearede
Spell rbeeemmh
mttNedB
Other ."Iblee
00. receNeble
Note receNeQ'e
MotorN Nal
recaA'ede
Motor Lel bn
MororMkle mdle®
Motor Mkle.
rnre .
D.t
Oh Llble
ermier M4
n o
A?mce tooober M®
bratrod®
Cash and
skred eli
I.e. obce96
Ie xtuNelmh
r
Prepemere
Here
Fibre! beam,, net of yvtmubted
eeprecer n
Other dean:
A'nant ew,ede for dad eanlce
Arrant to be prowlCed for mdranmt
of perarel Im9-teen debt
An, t to be Provldbd for L ure
peymmt of one, pe,,ebed ebemcee
Tams®eb and e,m dmxe
cry d Cape pYerCeer, Ebarl
mmmmm S CE WiEEE
ALL FJNDT M AND ACCOUNT OROWS
.hne 30,199]
Riube,
83pMnmmnl Fund TTPe P,,d,, Fund Type FaM Type A—nt Orwe
OHeetel
9peDe)ft Capita✓l Intel .Hebert
. lan,,-Te
�f>mL f�4rej6 SR$. i@�SY FnmmCEa A�IDCY (fes09t_ T9em-h -NZenorar a-m.8-ft017M1
52278.027
58508,759
$1,825.]3]
f1.wif"m
51,M.7m
E2688p80
5475,781
E-
f-
f18.160,OT7
513,898.714
-
1.=.f00
2060,523
383.185
1.288.989
187,990
2105.065
-
-
6,9.795
7.&5.153
38982
1497$
12071
-
-
-
19,835
-
-
81,083
82828
731,308
72301
_
_
_
_
_
_
_
1,459.W9
988,957
1,019,839
-
-
-
-
-
-
-
-
1,019,658
1.!3,051
-
29,951
_
_
_
_
_
_
_
29,951
31.07
-
Mtee
_
_
_
_
_
_
_
44,1341
85114
1,45905
_
_
_
_
1,45,656
1.153.100
52150
712.8,E4
71,522
118,iN
9$,750
99),952
215,790
n822
28827
1.388
398,523
1.530
-
-
-
879.888
687,319
51,169
1988]
-
-
240,250
14161
102
-
-
325.557
35,858
4.032
8,055
-
88067
_
_
_
_
_
_
_
88087
858085
-
12189
-
_
_
_
_
_
_
12189
15,389
-
14885
_
_
_
_
_
_
14885
17.50$
324.684
13480
-
590,450
308173
1,209.)4]
1,014.880
1,@6.5/0
1,783.219
1,887,530
1,752910
aZ7
19749
-
-
n1.z23
9.14
_
_
_
139,613
13!.985
-
-
-
-
28t30J108
790,77
-
-
-
25918,763
28978,T7
W0
_
_
_
_
880.000
2.828.908
55270
10125
-
-
928,780
89114
-
-
-
1.19,55
1,187,280
39m9
sm.w
-
17.029.708
-
57.989.101
50129393
3.41.253
3.121.253
2.M.494
-
-
-
-
-
-
-
-
ta069,410
13069.110
14.04217
524.083
544.08)
545,51
$7.664998
$8611.1922H.39
5376>5
E]151fl0a9
S1.BB9]17
600183
17. 709
1715878
135961&9
5129.87.590
TH E NOTES TO THE FINMCIAL STATEMENTS ME AN INTEGRAL PART OETH6 STATEMENT.
O$y d Cepe Olwrder., Mmad
COYBNED BNANCE SHFEf
All. FUNDTWES AND M OUNT QMWS
3rna M. 1007
Tod bEdtla, a ft, an d 9n rredib $7,6796 491192 51,259,602 5257375 571514019 5168917 5280098, $9.02977 $9,151,726 slnw19a9 5129,092588
THE NOTES TO THE FINANCIAL STATEMENTS MEAN INTEGP PAWOFTHS STATEMENT.
I I 1 1 i I I { I i 1 1 1 I 1 I { ! t
Hd fiery
t9dbnmmd Fuld Tvpas
Prcprbgry Find Tuns
Fina Tvoe
Acevnl
Orap
De,aa1
lel
l�A6'
LMA
SSNm.
Caput
P.m
f3nssl
l9etvsl
NM
OABIfS1ES, EOOffY MlDOTNEfl CflEgFe
li
F]IM[IXh2
a4sNm.
dDaEEl
Lmffi
Jbtrt-
R_6 -M-91
B-s-Ia-M
PmambpeyeEle
5218,221
SAB,aHf
52187
E91.TI8
593577
5172,123
50116
S-
f-
E2221,4W
52509,879
Occvea IbtilMm
Sabri®,Peyrol lmm aid Dmefm
285,s20
5485]
-
-
tU,,P5
248)0
8.33
-
SN,06J
1,040015
11n1059
®r.lNDb
_
_
_
_
51.618
_
_
_
_
Je,816
14.71)
ht
Flarmt
-
-
265
-
67,07
5,511
-
-
-
57,572
8
Oner l'eb881m
129,201
119
-
-
201,215
50
17.519
-
2
)25,298
7m,
one, Omemmme
20
-
-
1,V4
17,298
2,851
-
-
51,869
lffi.
15,0)6
214212
We W
nlero Doer Mltla
-
-
-
195,527
59¢18
-
-
-
_
1@45)0
1,)14219
Oe
I1.W=1.]52,9)0
tmmoner8.nm
lm9'IaeneDt
Cu rlm 0la
_
_
_
_
1,85.245
110. 000
-
-
2 1.)65
3,M7,=3,M7,=5.322,OW
Lmg-pB-b"Im d net 01Wrtn1Podia+
P.wnue DCnQ IxKDIa
-
-
-
-
11.07,810
-
-
-
-
11,019910
14769,510
Ieeee noeDmQ ".I.Dle
1,58],10)
5,1522297,719,W
14]1407
of
O Ca51katm1s of
S.3,M.=)88,011
-
-
5.2d5,OJ0
9,IW,911
6,1V.OW
Omeml o rndFg
aLnd
yaEl.
Dmd Pey
_
_
_
z.]15,07
Z740.=3,70'"bM1netea
it ane Pml-cbeure
4me
Ncbaure
mm l lbgllty
_
_
_
_
822.960
_
_
_
_
ea,980
815,258
Lbbrte]mnPaeeLbl Ne en PlOYam
_
_
_
_
_
_
2. 105
-
-
2.,WS
1,59458]
DNarted m+mu®
1,8148!3
19,870
716,515
]&195
-
2,81 M 11,182
2®2,568
Tod $eDMtls
2,257,715
69),20)
)18.]88
88],59)
524W,555
1,581,17
2.4 OW
-
1),151,]26
7aWU]0
T1,856pB2
Ega$yandaner verb:
Fvmenart FBmetel Foes man
_
_
_
_
_
_
_
17.029.70
-
1],020]09
IMM2
CmeLlted rwgnl
14970.802
14070Bo2
9,)91915
PeteFed eem FOe:
54000
2&533
118.081
],75,18]
-
-
-
5,122,0]1
2.860,38)
Funs Mealenm,:
Peeenred
209),)64
27,282
5,521,71
1,®7,]7
_
_
_
_
_
),]92,07
1271,587
Un�erred
5.)09.19)
),581,8]5
-
(291,8121
-
148)9780
5.710.92
Tod e9u$y and ons aeab
5,10],281
7,497,75
3,31,0)1
1,98.78
10117,888
3,3]5,187
19,02079
-
57,8819]O
52058,901
Tod bEdtla, a ft, an d 9n rredib $7,6796 491192 51,259,602 5257375 571514019 5168917 5280098, $9.02977 $9,151,726 slnw19a9 5129,092588
THE NOTES TO THE FINANCIAL STATEMENTS MEAN INTEGP PAWOFTHS STATEMENT.
I I 1 1 i I I { I i 1 1 1 I 1 I { ! t
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
11
City of Cape Girardeau,
Missouri
COMBINED STATEMENT OF
REVENUES,
EXPENDITURES AND
CHANGES
IN FUND BALANCES
r
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL
YEAR ENDED
JUNE 30, 1997
r
GOVERNMENTAL FUND TYPES
TOTALS
e
SPECIAL
DEBT
CAPITAL
(MEMORANDUM
GENERAL
REVENUE
SERVICE
PROJECTS
ONLY)
as
REVENUES
Texas
$10,203,793
$6,227,316
$321,909
$-
$16,753,018
Ucenses and permits
884,687
-
-
-
884,687
se
Intergovernmental
1,722,813
1,332,081
7,670
1,114,243
4,176,807
Charge. for se Mces
238,824
301,551
-
-
540,375
Interdepartmental services
459,548
-
-
-
459,548
Fines and forfeitures
556,759
-
-
-
556,759
r
Miscellaneous
107,638
117,671
-
-
225,309
Interest
233,288
381,084
19'225
26,579
1,071,176
Special assessments
7,123
-
3011598
118,811
427,532
ass
TOTAL REVENUES
14,414,473
8,359,703
821,402
1,499,633
25,095,211
EXPENDITURES
W
Current
Administrative services
1,241,129
815,736
-
-
2,05,865
Development services
1,296,470
18,626
-
-
1,315,096
Parks and recreation
993,825
895,268
-
-
1,889,093
as
Public safety
6,681,531
144,622
-
-
6,826,153
Public works
1,658,398
1,042,938
-
-
2,701,336
Contingency
1,633,830
-
-
-
1,633,630
Capital outlay
-
-
-
6,511,692
6,511,692
Debt service
Principal
-
12,297
2,165,876
-
2,178,173
Interest and fiscal charges
-
1,218
821,771
eg772
_ 907,761
as
TOTAL EXPENDITURES
13,505,183
2,930,705
2,987,647
6,59,464
26,019,999
EXCESS (DEFICIENCY) OF REVENUES
r.
OVER (UNDER) EXPENDITURES
909,290
5,428,998
(2,1(36,245)
(5,096,831)
(924,788)
ass
OTHER FINANCING SOURCES (USES)
OPorsting tmm.tare In
818,735
1,098,000
2,458,996
73,232
4,448,963
Operating transfers out
(1,806,236)
(2,772,193)
-
(75,735)
(4,654,164)
es
Bond proceeds
-
-
1,045,000
1,505,000
2,55'000
Loss on sale of securities
-
-
(1,375)
-
(1,375)
Payment to refunding escrow
-
-
(774,835)
-
(774,835)
Proceeds from fixed assets
27,308
27,308
r
TOTAL OTHER FINANCING SOURCES
(USES)
(960,193)
(1,674,193)
2,727,786
1,502,497
1,595,897
se
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER(UNDER EXPENDITURES AND
OTHER FINANCING USES
(50,903)
3,754,805
561,541
(3,594,334)
671,109
es
FUND BALANCES, JULY 1
5,489,129
4,083,090
2,959,493
5,260,412
17,792,124
PRIOR PERIOD ADJUSTMENT
(30,945)
(3'945)
r
FUND BALANCES, JUNE SO
$540]281
$]83]895
_$3521034
$1666078
818432288
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
11
Cit, ul Cm, a Gird-. Mi---ri
COMBINED STATEMENT OF REVENUES. EXPENDITURES AND
CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (SUDGET BASIS) -ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30. 1 W
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
1Z
GENERALFUND
SPECIAL REVENUE FUNDS _
VARIANCE
VARIANCE
@URS£]
ACTUAL
FAVORABLE
IUNFAVORABLEI
@U,DOET
ACTUAL
FAVORABLE
IUNFAVORABLEI
REVENUES
T..
$10,538.825
510,203,7W
(E335.0. )
$8352]]5
$6,227,316
($125.059)
Ucalsss and pamtte
911.850
684,887
(26.963)
Inta{pvanmenlal
336,375
1.722,813
1,366,438
1,3]8,]00
11332,681
(44,619)
ClwDesb mrveas
312,635
238,824
(73.611)
321,6:0
391$51
(20249)
IntaGepar9nenW services
495,000
459,548
(35,452)
-
-
-
FireeentllMeiWres
548000
5 ,759
18,759
-
-
-
Miarellerlmle
88000
107.1338
47,638
104,445
117.671
13.?
Intae4
241.025
233,266
18.337)
121850
381004
259,234
Spec®le®esemmis
TWO
7.123
6,123
TOTAL REVENUES
13,437,110
14,414,473
977,3&3
8.2]7,170
8,359,703
62,533
EXPENDITURES
C.,.,
Atlmninte4va eelvicae
1.368.639
1,281,122
125417
1,068,364
818,506
249,858
Devebpmenl eal4cae
1,328076
1.300.058
28.017
20.320
18,828
1.894
ParMaeM recreamn
1,014,158
884.800
21).358
971.008
874,937
WASS
Prlblc Wl y
6,912405
6.695.395
217.010
169,390
142,277
27,113
Rlblicw .
1,700,262
1,586,784
133.478
4,458000
788174
3,889,828
C tng cy
1.805 WO
1.633.830
(28,630)
_
-
_
Debt service
Principal
-
-
-
-
12,297
(12,297)
ht.e artd fisl21 cba09e
100
100
250
1,216
(968)
TOTAL EXPEN DITU RES
13,844,538
13"1989
502.549
8,6654220
2.654.037
4,031363
EXCESS (DEFICIENCY) OF REVENUES
OVER(UNDER) EXPENDITURES
(507,426)
972.484
1,479,912
1.591750
5,705,686
4,113916
OTHER FINANCING SOURCES (USES)
Opaek199enslers In
818,735
818,735
0
1,126.000
1,096,000
(30,000)
Opa4k1988nstersoet
(1889,357)
(1.808.238)
83.121
(3,385,720)
12.772.193)
813,527
Pros. V. fixo easels
10.000
27,308
17,308
TOTAL OTH ER F INANCING SOU RCES
(1,060,622)
(988193)
100,429
(2257,720)
(1874,193)
583,527
(USES)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOU RCES
OVER (UNDEF) EXPENDITURES AND
OTHER FINANCING USES
(1,588050)
12,291
1,580341
(665970)
4031473
4.692443
FUND BALANCES, JULY I
6,355,8
5,358,622
-
3540,278
35x8276
-
PRIOR PERIOD ADJUSTMENT
(38945)
130,945)
FUND BALANCES, JUNE 30
53788572
55337968
51549396
$2,874306
57571749
54,897,443
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
1Z
)
DEBT SERV ICE FUND
812050
821.402
VARIANCE
REVENUES
ACTUAL
T..
t
nta9oann,ental
$NE,iS9
and rwre
Y
lnt
Intaae
214,500
Specula®wenMlb
CRY of Cepa Guareeau, Mlcaoud
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FU ND BALANCES
BUDGET AND ACTUAL (BUDGET BASIS) - ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 1 W
v-
DEBT SERV ICE FUND
812050
821.402
VARIANCE
BUDGET
ACTUAL
FAVORABLE
(UNFAVORAULEI
1305,450
$321909
$NE,iS9
7,900
],6]0
(230)
214,500
190.225
(24,275)
115.000
301.598
108,598
v-
TOTAL REVENUES
812050
821.402
178,552
$-
S- $-
1.4]8.000
1,203,813 (273.OA)
0],500
20],312 100,842
EXPENDITURES
ze,m (sz3)
(2.430,280)
Capital o08aY
_
_
_
Rincipal
2,2]],931
2,185,878
112.055
Ntar.gtaesl anU fieml cna9e3
8221812
821111
871
TOTAL EXPENDITURES
3,100,5]3
2.80]84]
112928
r
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(2,45]123)
(2.108.245)
291,478
F
OTHER FINANCING SOURCES (USES)
OWatn(l lranslen in
2,480,800
2,458990
(91004)
Owatn)Ba0stenout
Wild mceeEc
-
1.00.5.000
1.0,t5.000
Lass on �cf
-
(1,375)
(1975)
PaYmeMbreluntleE bone escrow spent
(774.835)
(774,835)
A•
TOTAL OTHER FINANCING SOURCES
(USES)
2,488,800
2.]21]88
250,908
I
EXCESS (DEFICIENCY) OF REVENUES
W
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
F
OTHER FINANCING USES
ILon
581541
550,484
FUND RALANCES, JULY 1
2859 .493
2,959,493
R..
FUND BALANCES, JUNE 30
$2.970.570
):3521034
$550.484
r
ITHE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
13
ANNUALLY BUDGETED
CAPITAL PROJECTS FUNDS
2,200,503
VARIANCE
BUDGET
FAVORABLE
ACTUAL (UNFA_ YQUABLE)
$-
S- $-
1.4]8.000
1,203,813 (273.OA)
0],500
20],312 100,842
29,999
ze,m (sz3)
15]3,390 1699,832 (13,758)
1,318.850
2,200,503
2.0SS147
108.000
81,270
(8,210)
1918,850
2,384 A4
1,951,876
(2,70.3280) 1085,142) 1918.118
2 .OW
73,232
(131180)
108.000
(75,735)
(103.735)
-
1.505.000
1,505,000
313.000
T502,497
1,189.407
(2.430,280)
637,355
3007,815
T181,M5 1.184125
1$1246536 _$1822000 $308].815
OPERATING REVENUES
Residen8d chargee
Commercial chargee
Transfer station chargee
Equipment sale.
Concession revenue.
Goff c W res I...
Softball complex tae.
Other fees end charges
Interdepartmental .ervicee
Other miscellaneous
IGS I\11M.774{�iG[H:iSIT.Isr
OPERATING EXPENSES
Personnel services
Materialsand supplies
Contractual serm...
General operating expenses
Special projects expense
Internal service expenses
Depreciation expense
TOTAL OPERATING EXPENSES
Cit, of Cape Girardeau, Miawuri
COMBINED STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
PROPRIETARY
FUND TYPES
Interestincome
1,721,470
INTERNAL
ENTERPRISE
SERVICE
12,358
$5,26,430
$-
2,457,189
-
675,636
-
7,971
-
87,369
-
399,751
-
45,131
-
229,462
-
-
2,756,569
41,176
9,551
9,204,115
2,766,120
2,016,827
586,360
287,242
246,560
3,489,301
1,482,289
270,742
7,475
126,850
-
314,037
2,044
1,472,921
199,511
7,977,920
2,524,239
OPERATING INCOME (LOSS) 1,226,195
NON-OPERATING REVENUES (EXPENSES)
Interestincome
1,721,470
State grant.
(183)
Federal grants
12,358
Sale of fixed assets
4,026
Compensation for damages
4,449
Issuance cost amortization
(104,242)
Interest and handling costs
(2687607)
TOTAL NON-OPERATING REVENUES
(EXPENSES)
(1,049,729)
INCOME (LOSS) BEFORE OPERATING
TRANSFERS
176,466
Operating transfers in
217,100
Operating transfers out
NET INCOME (LOSS)
393,566
RETAINED EARNINGS (DEFICIT),
JULY 1
(227,682)
PRIOR PERIOD ADJUSTMENT
(19,000)
RETAINED EARNINGS (DEFICIT),
JUNE 30
$146,884
xzslc*,$
148,131
6,560
(5(3,9)
(3,382)
392,681
161,598
(173,500)
380,779
2,924 408
$3.30518]
THE NOTES TO THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.
14
TOTALS
MEMORANDUM ONLY
1996-1997
$5,260,430
2,457,189
675,636
7,971
87,369
399,751
45,131
229,462
2,756,569
50.727
11,970,235
2,603,187
533,802
4,971,590
278,217
126,850
316,081
1.672.432
10,502,159
1,468,0]6
1,869,601
(183)
12,358
4,026
11,009
(104,751)
_ (2,690,989)
(898,929)
569,147
378,698
(173,500)
774.345
2,696,726
(19,000)
$3,452,071
Cil, of Cape Gieardeau, Mbwurl
COMBINED STATEMENT OF CASH FLOWS -
AM PROPRIETARY FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE W. 1987
y
PROPRIETARY FUND
TYPES
TOTALS
INTERNAL
(MEMORANDUMONLY)
�
ENTERPRISE
SERVICE
99l
1896-199]
CASH FLOWS FROM OPERATING ACTIVITIES:
p
Operating Income Voss)
$1,228195
$241,881
$1,468,076
Adjustrnenh to reconcile opemfirg income to
y
net cash provided by opemling act"es:
Demolition
1,4]2,921
199,511
1,672,432
k
CashoperatinggamsrecoNed
12,175
-
12,175
Change In assets and llabllNas:
r
(Increase) decrease in eccounfs locarvabie
(119,710)
91,137
(28573)
(Increase) decrease in imentory
(2,012)
1,451
(561)
(Increase) decrease In prepaid deme
23,693
7,933
31,526
Increase (daQease) In accounts payable
(68522)
(93,323)
(161,845)
y
Increase (decrease) h s=ued IIabllMes
(859,977)
(4,015)
(8631992)
Increase(decrease) in lencifill poetcl core care costs
7,702
7,702
r
NET CASH PROVIDED BY (USED IN) OPERATING
ACTIVITIES
1,692,465
444,475
2,138940
_
CASH FLOWS FROM NONCAPTTAL FINANCING ACTIVITIES:
Operating transfers in from other finds
217,100
161,598
378,698
1,,e
Operadng Uwarfem out to other funds
(1]3,500)
(173,500)
(
NET CASH PROVIIJED BY (USED IM NONCAPITAL
FINANCING ACTNITIES
217,100
(11,902)
_ 205,198
y
GSH FLOWS FROM CAPITAL AND RELATED FINANCING
ACTIVITIES:
)
Proceeds tam davelopas
198,5?SJ
-
14520
`
PrinclTel mid on reaanue bonds
(340,000)
-
(3401000)
Principal paid on base purchase bonds
(504,125)
-
(564,125)
Pdncipal paid on COP bond.
(140,000)
-
(i Q'000)
Pdndpal paid on SRF bonds
(92,000)
-
(92,090)
Pdnclpel laid an energy loan 8 nate payable on land
(49,881)
(407)
(59,288)
finales! laid on bonds and obligations
(1,618021)
32
(1,fi18989)
P..wa trvm capital grams racelved from other g.mems
741,1109
-
741.IX
N
Purchase of Toed asset.
(5,684,290)
(295,449)
(5,979,739)
Proceed. I.. COP Issuance
-
853,847
853,847
y
Proceeds from select assab
9,975
15,041
25,916
Compenatlon ter damages
4,449
6,560
11,009
F
NET CASH PROVIDED BY (USED IN) CAPITAL AND
y
RELATED FINANCING ACTIVITIES
(7,612,364)
579,624
(7,032,740)
CASH ROWS FROM INVESTING ACTIVITIES:
-
Puchasa of Investments
-
-
r
Proceeds ham ala of Invastmams
1,966,864
96,989
2,0&5,853
Intellect. Bvectments
1,577,815
12,381
1,590,196
Oueml9ht Interest
139390
137,812
277,202
Interest on aues.amenis
19,698
10,698
y
NET CASH PROVIDED BY (WED IM INVESTING
ACTIVITIES
3,714,767
249,162
3,963,90.9
T
INCREASE (DECREASE) IN CASH AND CI15M EQUIVALENTS
(1 998,032)
1,261,379
(726,653)
y
CASH AND CASH EQUIVALENTS, JULY 1
28,414,793
2,174,278
3,5&9,071
s
CASH AND CASH C-0UIVALENTS, JUNE 30
$26,426,]fi1
$3.43565]
$29,862,418
y
I
y
THE NOTESTO THE FINANCIAL STATEMENTS AREAN INTEGRAL PARTOF
THIS STATEMD,IT.
15
r
THIS PAGE INTENTIONALLY LEFP BLANK.
16
I
I
0
I
I
0
0
I
u
NOTES TO THE FINANCIAL STATEMENTS
17
THIS PAGE INTENTIONALLY LEFT BLANK.
18
r. City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
r. The City of Cape Girardeau, Missouri operates under a charter which went into effect April 12,
1981 The City operates under a Council -Manager form of government and provides the
following services as authorized by its charter. public safety (police and fire), highways and
streets, water, sanitation, health and social services, culture -recreation, public improvement,
planning and zoning and general administrative services.
The financial statements of the City have been prepared in confomtity with generally accepted
r 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
r City are described below.
1. Reporting Entity
In evaluating how to define the City, for financial reporting purposes, management has
considered all potential component units. Generally, component units are legally separate
organizations for which the elected officials of the City are financially accountable. The Cape
Girardeau (Missouri) Public Facilities Authority (CGPFA) is a blended component unit which is
pan 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.
Cape Girardeau (Missouri) Public Facilities Authority - As described in Note E, the City of
Cape Girardeau, Missouri has entered into five 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 bond indentures for the
r
purpose of issuing and securing the Series 1990B Bonds, Series 1993 Bonds, and limited
r 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
r Agreement with the City from which the lease payments will be used solely to retire the debt.
Although they arc not a component unit of the City, the City handles the funds of and provides
.. accounting anrd other Services Cor several entities. Since these funds are held in the City's name,
these entities arc shown as Agency Funds in the financial statements.
19
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
1. Reporting 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 1, 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 funds and account groups, tact[ of which _
is considered a separate accounting entity. The operations of each fund are accounted for with a
separate set of self balancing accounts that comprise its assets, liabilities, fund equity, revenues
and expenditures or expenses as appropriate.
Government resources are allocated to and accounted Cor in individual funds based upon the
purpose for which they are to be spent and the means by which spending activities are
controlled. 'Phe 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 -tern 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
y
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
r
2. Fund Accounting -Continued
PROPRIETARY FUND TYPES
r The City has implemented GASB 20 (Accounting and Financial Reporting for Proprietary Funds
r 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,
r and ARBs (Accounting Research Bulletins) issued on or before November 30, 1989, except
those that conflict with a GASB pronouncement.
r 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
r 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
F 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.
r FIDUCIARY FUNDS
Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by
r the City in a trustee capacity or as an agent for individuals, private organizations, other
y 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
r
General Fixed Assets (GFA) - The General Fixed Assets Account Group is used to account
a for fixed assets used in governmental fund type operations for control purposes. All fixed
assets are valued at historical cost or estimated historical cost if actual historical cost is
not available. Donated fixed assets are valued at their estimated fair value on the date of
donation. Depreciation is recorded on general fixed assets.
r
General Lone -Term Debt Account Groun - The General Lung -Term Debt Account Group
is used to account for long-term liabilities to be financed from governmental funds.
r
21
W
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
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 Account Group, 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 laud.
All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is
not available. Donated assets arc valued at their estimated fair value on the -date donated. Repairs
and maintenance are recorded as expenditures; renewals and betterments are capitalized.
Proprietary Funds - Additions to the Proprietary Funds are recorded at cost or, if contributed
property, at their estimated fair value at time of contribution. Repairs and maintenance are recorded
as expenses; renewals and betterments are capitalized. The sale or disposal of fixed assets is
recorded by removing cost and accumulated depreciation from the accounts and charging the
resulting gain or loss to income. _
Depreciation of all exhaustible fixe{ 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 arc accounted for using a current financial
resources measurement focus. With this measuremcnl 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_
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
r, June 30, 1997
r NOTE, A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
r
4. Basis of AccountinE - Continued
r 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 fords are
` included on the balance sheet. Fund equity (i.e., net total assets) is segregated into contributed
r� 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.
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
r debt service fund for payments to be made early in the following year.
e Those revenues susceptible to accrual are property taxes, franchise taxes, special assessments,
r
licenses, interest revenue and charges for services. Sales taxes collected and held by the state at
r year-end on behalf of the City also are recognized as revenue. Fines and permit revenues are not
r 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
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
r 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 mel, 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.
r 5. Encumbrances
Encumbrances represent commitments related to unperformed contracts for goods or services.
Encumbrance accounting is utilized in all funds- Encumbrances outstanding at the end of the year
r in the governmental funds are reported as reservations of fund balances and do not constitute
t expenditures or liabilities because the commie )Cuts will be carried forward and honored during the
subsequent year. Encumbrances outstanding in the propnetary funds do not constitute expenses but
will he honored in the subsequent year.
23
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
6. Bud¢ets and Budgetary Accountinc
The City adopts Mll ual operating budgets for all funds.
The City follows these procedures in establishing the budgetary data collected 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 L Tire 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 drat alter the total appropriations of any
department must be approved by the City Council- Departments may not legally exceed
their appropriations without approval front 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. Fomtal budgetary integration is employed as a management control device during the
year for all funds_
6. Budgets for all funds are adopters on a budgetary basis.
Additional budget appropriations by department made throughout the year are as follows:
Community Development Block Grant Fund $ 72,000
Street Improvement Fund 109,000
General Capital Improvement Fund 335,000
Interdcpannicntal 14,000
Contingency 1,525,000
Parks and Recreation 13,000
Public works 895.000'
S 2963000
Of the above appropriations, $72,000 was allocated for grant funded economic development
projects, $109,000 for completion of various street projects, $335,000 for completion of various
airport and park capital projects, $14,000 for a privately funded Transamerica Corridor contract,
$1,450,000 for giant funded flood buyout and relocation costs, $75,000 for forgiveness of debt
due from Cape Girardeau Public Library, $13,000 for roof replacement of the arena, $845,000
for completion of an EDA grant funded water supply development at plant #1, and $50,000 for
fencing of the city's closed landfill.
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
r
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
6. Budgets and BudcetaAccountine - Continued
For the year ended June 30, 1997 general fund expenditures for contingent expenditures
exceeded the approved budget by $28,830_ Additionally, the airport debt service, general capital
improvement and employee fringe benefit funds exceeded their approved budgets by $5,664,
;. S663,284, $7,491, and $285,810 respectively.
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
r 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.
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
Gcncral
Revenue Service
Pr eects
GAAP Basis
$ (50,903) $ 3,754,805 $ 561,541
$ (3,594,334)
..
increase, due to:
Prior year encumbrances
Administrative services
4,860
790
i
Development services
260
- -
-
Parks and recreation
14,899
271264
-
Public safety
8,134
2,345 -
-
..
Public works
104,354
512,406
Capital outlay
_
-
4 075,688
132.507
_542805
_f+ 075688
r.
Decrease, due to:
r
Year-end encumbrances
Administrative services
24,853
3,562
-
Development services
3,848
- -
-
..
Parks and recreation
5,874
6,933
-
Public safety
21,998
- -
-
Public works
12,7,40
255,642 -
-
r
Capital outlay
-
_ - -
11 813,A57
69313
_Z66-137
_.1.„ 813 4,,,77
Budget Basis
$ 12.291
$ 4,031473 S 56t 541
S tt 332l3
,4
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE, A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
6. Budeets and Budeelary Accountine - Continued
The individual proprietary schedules of comparing budget to actual is reported on a budgetary
basis that uses the modified accrual basis of accounting with the exception of encumbrances.
Encumbrances are reported as expenses in the year of encumbrance.
Sewer Water
GAAP Basis
$ 78,824 $
253,969
Increase due to:
Prior year encumbrances
Materials and supplies
25
1,933
Contractual services
185
3,921
Special projects expenses
28,751
-
Capital outlays
2,365,572
99,135
Depreciation
795,561
391,306
Capital grants
255,536
447,830
Impact fees
138,520
-
Adjustment to liability for
229,704
100,536
future landfill postclosure
-
Landfill closure and
maintenance costs
-
-
Interest paid less than accmed307,838
-
Interest cost amortized
720,622
1,146
Cost of bond refunding
-
-
amortization
30,636
40,856
Issuance cost amortization
66.882
30.239
4,710.128 1.016.366
Solid Golf Softball
Waste Course Complex
$ 22,991 $ 18,827 $ 18,955
298 1,112 2,500
1,123 - 400
4,794 -
160,257 - -
221,726 57,328 7,000
80,979
297
7.121
476595 58.440 9.900
Decrease due to:
Year-end encumbrances
Materials and supplies
1,915
228
333
320
740
Contractual services
46
-
-
-
-
General operating expenses -
-
-
470
-
Capital outlays
1,585,447
229,704
100,536
100
-
Landfill closure and
maintenance costs
-
-
74,834
-
-
Interest paid more than accrual -
4,368
2,181
-
-
Bond principal paid
730,542
299,114
170,583
-
-
Capital outlays
4,421,888
875,522
223.909
52.476
7,065
6.739,838
1.408.936
572.376
53,366
7,805
Budget Basis
$ f 1,950,8861
138 601
$ ( 72,790) 239 01
21 050
26
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
6. Budgets and Budgetary Accounting - Continued
GAAP Basis
Increase due to:
Prior year encumbrances
Materials and supplies
Contractual services
Capital outlays
Depreciation
Interest paid less than accrued
Bond proceeds (net of issuance costs)
Issuance costs amortization
Decrease due to:
Year-end encumbrances
Materials and supplies
Contractual services
General operating expenses
Capital outlays
Bond proceeds
Interest paid more than accrued
Principal paid
Capital Outlays
Budget Basis
Net Income (Loss)
Data Fleet Equipment
Processing Management Replacement
$ 35,102 $ (1,168) $ 170,050
222
1,595
13,141 4,450
118,283 34,712
1,618 -
422,277
256
555 575 40,979
46,516
1,664
431,570
253
480.003
443
1,372
-
2,999
4,495
-
-
407
44,981
36.472
213,997
49,919
41.250
213,997
$.540,758
1439
L-4
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_
27
City of Cape Girardeau, Missouri
NO'IT',S TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
S. Compensated Absences
Vested or accumulated vacation pay for proprietary funds is recorded as an expense and liability
of those funds as the benefits accrue to employees. Amounts of vested or accumulated vacation
leave of governmental funds that are not expected to be liquidated within the current year are
reported in the general long -tern debt account group. Employees only accumulate up to 30 days
vacation, for which they are compensated upon termination or retirement. Employees are not
compensated for accumulated sick leave upon termination or retirement.
9. Bond Discounts/Issuance Costs _.
In governmental fund types, bond discounts and issuance costs are recognized in the current
period. Bond discounts and issuance costs for proprietary fund types are deferred and amortized
over the tern of the bonds. Bond discounts are presented as a reduction of the face amount of _
bonds payable whereas issuance costs are recorded as deferred charges.
10. Total Columns - Menrorandunr Only
Total Columns arc captioned "Memorandum Only" to indicate that they are presented only to
facilitate financial analysis. Data in these columns do not present results of operations in _
conformity with generally accepted accounting principles. Neither is such data comparable to a
consolidation.
Interfund eliminations have not been made in the aggregation of this data.
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 (fiat will benefit periods beyond June 30, 1997 an,
recorded as prepaid items_
28
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
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
I report those proceeds of revenue bond issuances that are restricted for use in construction. The
r "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.
r 15. Lone -term Oblieations
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 long-term obligations, only that portion expected to be financed from expendable available
financial resources is reported as a fund liability of a governmental fund. The remaining portion
of such obligations is reported in the general long-term debt account group. Long -tern liabilities
expected to be financed from proprietary fund operations are accounted for in the appropriate
r proprietary fund.
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 expcnditures/expenses in the hind that is reimbursed.
~ All other interfund transactions, except quasi -external transactions and reimbursements, are
r
reported 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 coutsc 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 sheer. Short -tern interfund loans are classified as
"intedund receivahles/payables"_
18. Advances to Other Funds
Noncurrent portions of long -tern intedund loan receivables are reported as advances and are
offset equally by a fund balance reserve account which indicates that they do not constitute
r expendable available financial resources and therefore are not available for appropriation
29
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE A - SUMMARY OF SIGNIFICANT ACCOUN'T'ING POLICIES - Continued
19. Post -Employment Health Care Benefits
In addition to the pension benefits described in Note If, 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, seventeen
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 1997, those costs totaled $30,112.
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 the tenth (101h) day of the month for the actual month covered.
This program is offered for a duration of 18 months alter the termination (late. There is no
associated cost to the City under this program, and there were no participants in the program as
of June 30, 1997.
NOTE B - DEPOSIT'S AND INVESTMENTS
1. Deposits
At June 30, 1997, the carrying amount of the City's deposits was $5,429,382 and the bank
balance was $5,423,817 which excludes $5,565 of petty cash funds held at various City
locations. The deposits are categorized in accordance with risk factors created by governmental _
reporting standards.
Category #t 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 oust
department in the City's name.
Category #3 includes deposits which are uncol lateral i zed or the collateral is held by the financial
institution's trust department hilt not in the City's name.
3U
Carrying
Bank
Amount
Balance
Category #1
$ 5,257,209
$ 5,257,209
Category #2
172,173
166,608
Category #3
-
-
$
j1A29 382
$5 423 817
Category #t 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 oust
department in the City's name.
Category #3 includes deposits which are uncol lateral i zed or the collateral is held by the financial
institution's trust department hilt not in the City's name.
3U
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE B - DEPOSITS AND INVESTMENTS - Continued
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.
Investments made by the City are summarized below. The investments that are represented by
r 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 name.
Category #2 Uninsured and unregistered, with securities held by the counter -party's trust
`
department or agent in the City's name.
Category #3 Uninsured and unregistered, with securities held by the counter -party, or by its trust
`
department or agent but not in the City's time.
r
`
Category Carrying
Market
#1 #2 #3 Value
Value
r
Repurchase Agreements $ 3,737,761 $ - $ - $ 3,737,761
$ 3,737,761
U.S. Government
-
Securities 13.317.682 - _ 13.317.682
13.290.770
$ 17.055,443 $6 $c 17,055,443
17,028,531
Money Market Account U.S.
Government Securities 4,163,055
4,163,055
State Revolving Fund
Program 20,922,620
20,922,620
.,
Investments in Deferred
Compensation Plan 2.105.065
2 105 065
$ 44,246.183
$ 44.219.271
31
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE C - PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of January L Taxes were levied on
August 19, 1996, 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 $ .33/100.00 assessed valuation
Library Tax .17/100.00 assessed valuation
Public Health Tax .06/100.00 assessed valuation
Debt Service Tax .10/100.00 assessed valuation
Special Business District .80/100.00 assessed valuation
#2 (Ad Valorem)
Property tax receivable balances as of June 30, 1997 are as follows:
Balance
Accumulated
Downtown
July 1. 1996
Additions
Deductions
Depreciation
June 30. 1997
Business
$ 2,073,938
Debt
$ -
$ -
$ 2,073,938
General
District
Health
Service
Library
Total
Improvements other
Current property tax
$ 30,325
$ 1,974
$ 5,386
$ 9,236
$ 16,048
$ 62,969
Delinquent property tax
32,151
2,454
4,545
10,354
14,565
64,069
Reserve for doubtful
Construction in progress
4,497,538
3,349,795
7.842,125
-
5.208
property taxes2(
3.494)
(86)
(3.398)
(7.519)
I 1 1784(
5.675)
Net property tax receivables 38 982 4 342 6 533 t 2 071 19 435 81 363
NOTE D - CHANGES IN FIXED ASSETS
A summary of the general fixed assets account group for the year ended June 30, 1997 is as
follows:
32
Balance
Accumulated
Balance
July 1. 1996
Additions
Deductions
Depreciation
June 30. 1997
Land
$ 2,073,938
$ -
$ -
$ -
$ 2,073,938
Buildings
3,853,591
5,255,982
242,167
8,867,406
Improvements other
than building
2,061,078
2,632,968
-
166,763
4,527,283
Equipment
1,686,375
213,213
4,588
339,126
1,555,874
Construction in progress
4,497,538
3,349,795
7.842,125
-
5.208
Total general fixed
assets
$ 14,172,520
$7,846,713
748,056
$ 17.029.709
32
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE D - CHANGES IN FIXED ASSETS - Continued
General
Additions and deletions to the Enterprise
Funds for the
fiscal year 1997 were $6,443,885 and
$112,396 respectively. Additions and deletions
to the Internal
Service Funds were $295,450 and
$17,191 respectively.
Revenue
of
A summary of the proprietary fund type fixed assets for the
year ended June 30, 1997 is as follows:
Enterprise
Internal
Bonds
Fund
Service Fund
Land
$ 248,109
$ 37,500
Buildings
9,084,673
421,178
Improvements other
than building
32,892,680
104,903
Equipment
3,693,892
1,522,434
Construction in progress
7 828 867
6,346
$ 10,214,870
$ 53,748,221
$ 2,092,361
Less accumulated
$17,557,702
RGhemeots
depreciation
13,748 677
1,132,513
(48,221)
$ 39.999 544
$ 959 848
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 ender) June 30, 1997.
33
General
Ux sehold
cemfcatu
Obligation
Revenue
of
Unused Paid
Due to Other
_Bonds
Bonds
Participation
Leave
GpvernmeNS
Total
General long-term
debt payable at
July 1, 1996
$3,390,000
$ 10,214,870
$3,325,000
$ 545,991
$ 81,841
$17,557,702
RGhemeots
(320,000)
(2,430,876)
(170,000)
(48,221)
(30,172)
(2,999,269)
Amort Added
2,550,000
46.293
2,596,293
General long -tens
dcht payable at
lune 30, 1997
$3.070 000
$ 7,783,994
$5,705000
$ 544,063
$ 51 669
$17.154 726
33
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG-TERM OBLIGATIONS - Continued
The following is a summary of bond transactions in the Proprietary Funds of the City for the
year ended June 30, 1997.
Bonds payable at June 30, 1997 are comprised of the following individual issues.
$ 3,070,000 1993 General Obligation Refunding Bonds due as follows:
Year Ending Interest
Principal
Leasehold
Certificates
June 30
Rale
Revenue
Revenue
of
Bonds
Bonds
Participation
Total
Bonds payable at
$ 467,738
1999
4.25
345,000
July 1, 1996
$ 41,201,811
$ 2,761,199
$ 3,420,000
$ 47,383,010
Discount Amortization
463,488
2001
4.70
370,000
& Issue Cost
54,374
23,268
(1,086)
76,556
Bonds Issued
-
-
880,000
880,000
Accumulating Interest
718,424
-
-
718,424
Bonds Retired
(432000)
(584,124)
_ (140000)
(L 156124)
Bonds payable at
461,250
June 30, 1997
$ 41,542.609
2 200 343
$ 4,158,9 14
$ 47.901866
Bonds payable at June 30, 1997 are comprised of the following individual issues.
$ 3,070,000 1993 General Obligation Refunding Bonds due as follows:
Year Ending Interest
Principal
Interest
June 30
Rale
Due
Due
Total
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
2002
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 _
450000
11,250
461,250
$ 3,070,00 S 633,642 $ 3.703.642
Principal payments are made annually on November I, and interest payments are made semi-
annually on May I and November I_
14
F
r City of Cape Girardeau, Missouri
t NOTES TO FINANCIAL STATEMENTS
June 30, 1997
r
NOTE E - LONG TERM OBLIGATIONS - Continued
On April 20, 1993, the City of Cape Girardeau issued $3,690,000 of General Obligation
r Refunding 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
w 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
r legally available funds of the City, were used to refund $3,580,000 principal amount of General
Obligation Refunding Bonds, Series 1987, of the City and pay the costs of issuance of the
bonds.
$
r 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.
W, Principal payments are made annually on March 1, and interest payments are made semi-
annually on March 1, and September I.
35
r
1,060,000
Series 1993 Scwcra,e System
Revenue Bonds due as follows:
r
Year Ending
Interest
Principal
Interest
r
June 30
Rate
Due
Due
Total
1998
4A007
$ 90,000
$ 53,761
$ 143,761
1999
4.600
95,000
49,801
144,801
r
2000
4.800
100,000
45,431
145,431
2001
5.000
110,000
40,631
150,631
2002
5.125
115,000
35,13E
150,131
r
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
1060000
301,00
$ 1,361,007
r 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.
W, Principal payments are made annually on March 1, and interest payments are made semi-
annually on March 1, and September I.
35
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997 ..
NOTE E - LONG TERM OBLIGATIONS - Continued
$ 3,280,000 Waterworks System Revenue Bonds Series 1992 due as follows:
Year Ending Interest Principal Interest —
June 30 Rate Due Due Total
1998 5.50% S 225,000 $ 219,098 $ 444,098
t999 5.70 275,000 206,722 481,722
2000 590 320,000 191,048 511,048
2001 6.00 370,000 172,167 542,167
2002 6.10 425,000 149,968 574,968
2003 T45 485,000 124,042 609,042
2004 7.45 555,000 87,910 642,910
2005 7.45 625.000 46,563 671,563
5_1 28 0000 $ 1197,518 .$ 4,477518
'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 systern
occurred on June- 3, 1992.
Principal payments are made annually on March I, and interest payments are made Semi-
annually on March 1 and September 1.
Additional principal oC $8,090,000 originally payable through the fiscal years ending June 30,
2006 to 2012, was defeased via an in -substance defeasance during die fiscal year ended June 30,
1996. _
36
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG-TERM OBLIGATIONS - Continued
r
$
8,865,000 Waterworks System Refunding Revenue Bonds Series 1995 due as follows:
Year Ending Interest Principal Interest
June 30 Rate Due Due Total
.. 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 4A00 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
2011 5.000 1,120,000 170,750 1,290,750
2012 5.000 2.295,000 114,75 2.409 750
$
8,865,000 $ 5,315 342 $ I4 180 342
Principal payments are made annually on March 1, and interest payments are made semi-
.. annually on March I 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
r 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 defcase $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 the Escrowed Securities,
together with the earnings thereon for the period beginning March I, 1996, and continuing
through March I, 2002, the date on which the Refunded Bonds will be redeemed.
37
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 2,290,000 Seweraec System Revenue Bonds (State Revolving Fund Proeram) Series 1991 due
as follows:
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
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
y,
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
$ 2 290 000
$ 1,647,529
$ 3937 529
These bonds are
dated
December 1,
1991. The proceeds
of the bond issue will he used to extend
and improve the
existing
sewerage facilities serving
the City.
Principal payments
arc
made annually on June 1, and
interest payments are made semi-annually on
June l 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 reunbursement into tic reserve fund.
The maximum amount of funds that will be advanced to the reserve fund will be $1,250,000. As
bonds 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_ The balance of the reserve fund at June 30, 1997 was $712,798 -
The reserve fund yields 6.71 %.
38
C
W
City of Cape Girardeau, Missouri
r NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG-TERM OBLIGATIONS - Continued
r
$ 468,000 Sewerage System Revenue Bonds (State Revolving Fund Program( Series 1993 due as
follows:
These bonds are dated August I, 1993. The proceeds of the bond issue were used to extend and
improve the existing sewerage facilities serving the City.
p Principal payments are made annually on March 1, and interest payments are made semi-
annually on March 1 and September I.
The interest due on the 1993 Sewer System Revenue Bonds will be subsidized by interest
r 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
r oscrve 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 bind at
Jane 30, 1997 was 5327,600- The reserve fond yields 5.15%.
r
t
r
39
Year Ending
Interest
Principal
Interest
l
_June 30
Rate
Due
Due
Total
r
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
4A00
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
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
39,00
1,053
40,053
y
$468,0 000
252,99
720 990
r
These bonds are dated August I, 1993. The proceeds of the bond issue were used to extend and
improve the existing sewerage facilities serving the City.
p Principal payments are made annually on March 1, and interest payments are made semi-
annually on March 1 and September I.
The interest due on the 1993 Sewer System Revenue Bonds will be subsidized by interest
r 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
r oscrve 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 bind at
Jane 30, 1997 was 5327,600- The reserve fond yields 5.15%.
r
t
r
39
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG-TERM OBLIGATIONS - Continued
S /1462662
Water Pollution. Control
Revenue Bonds (State Revolvint, Fund Program) Series
1995D due as
follows:
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
1998
4.750%
$ 22,226
S 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
201 t
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
6200
326,281
683,719
1,010,000 _
2015
6200
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 _
S 11 462,662 1_11_767 33 8 S23.230.000
These bonds are dated June I, 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 I 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 finds, the Department of Natural Resources
will deposit an amount upnl to 701 of the disbursement into the reserve fund_ The nnximum
amount of funds that will he advanced to the reserve fund will be 701 of the principal amount
less the original issue discount. As bonds are paid off 709 of the amount of [)ends will be
repaid to the Department of Natural Resources out of the reserve fund. The balance of the
reserve fund at June 30, 1997 was $3,520,958.
40
r
e
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG --TERM OBLIGATION - Continued
$ 13,535 000 Sewerage System Revenue Bonds (State Revolving Fund Program) Series 1996 due
as follows:
r
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
r
1998
$
760,761
$ 760,761
1999
760,761
760,761
r
2000
4.5007
$ 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
r
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
r
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
1,021935
$
13,535 000 $ 11,130,752
$24,665 752
r
These bonds
are 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.
r
Principal payments
will
be made annually on January
1 beginning in the year 2000. Interest is
paid semi-annually
on January
I and July
I beginning
in the year 1997.
41
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG -PERM 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 June 30, 1997 was $1,165,765.
$ 10.030.000 Buildine and Epuinment Leasehold Refundine & Improvement Revenue Bonds
Ca ital Improvements Project) Series 1993 due as follows
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Duc
Total
1998
LI00%
S 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
$ 10 030 000 $ 1.346 395 $ 11,376 395
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) defense $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: $1,961,796 - Sewer Fund; $284,210 - Solid Waste —
Fund; and $7,783,994 - General Long-term Debt Account Group.
Principal payments are made annually on March I and interest payments arc made semi-annually
on March I and September I_
ez
$ 3,155,00 845,09 $4,000,09
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
°i receipts from the City to Union Planters Bank of Cape Girardeau County ( the "Trustce"). 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.
r
The bond liability for the Series 1993 certificates is recorded in the General Long -Tenn Debt
Account Group.
Principal payments are made annually on April 1, and interest payments are made semi-annually
on April 1, and October 1.
43
City of Cape Girardeau, Missouri
r
NOTES TO FINANCIAL
STATEMENTS
June 30, 1997
,.
NOTE E - LONG-TERM
OBLIGATIONS - Continued
$ 3.155 000
Certificates of Participation
(Convention and Visitors Recreation Facilities Project),
Series 1993-
r
Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due Total
r
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 7!5700
$ 3,155,00 845,09 $4,000,09
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
°i receipts from the City to Union Planters Bank of Cape Girardeau County ( the "Trustce"). 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.
r
The bond liability for the Series 1993 certificates is recorded in the General Long -Tenn Debt
Account Group.
Principal payments are made annually on April 1, and interest payments are made semi-annually
on April 1, and October 1.
43
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997 ..
NOTE F. - LONG-TERM OBLIGATIONS - Continued
$ 3,280,000 Certificates of Participation (Twin Lakes Project)Series 1994A.
Year Ending
Interest
Principal
Interest
-
June 30
Rate
Due
Dae
Total
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
5350
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
80,00
2,360
_
82,360
$ 3280000
$ 1,101,503
$ 438t 503
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 I994A 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 Ann] I and October I_
44
6
City of Cape, Girardeau, Missouri
�. NOTES TO FINANCIAL STATEMENTS
June 30, 1997
c NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 2,665,000 Certificates of Participation (Capital Improvements Projects) Series 1997A.
.. Year Ending
Interest
Principal
Interest
June 30
Rate
Due
Due
Total
.. 1998
4.625% $
230,000
$ 107,391
S 337,391
1999
4.625
230,000
118,231
348,231
2000
4.625
245,000
107,594
352,594
2001
4.750
255,000
96,262
351,262
2002
4.800
270,000
84,150
354,150
' 2003
4.900
275,000
71,190
346,190
2004
4.900
285,000
57,715
342,715
2005
5.000
490,000
43,750
533,750
2006
5.000
50,000
19,250
69,250
2007
5.000
335,0
16.750
351,750
r
$ 2-665-000
$ 722 283
L3 3 387 283
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
r "Corporation'), the Corporation will assign the right to receive rental and other receipts from the
City to Union Planters National Bank (the "Trustee"), The purpose of the 1997A Series
r
certificates is to (1) pay the costs of completing the construction, furnishing and equipping of a
convention and recreational facility that constituted part of the 1993 project, (2) pay the costs of
acquiring, constructing, furnishing and equipping various equipment and capital improvement
projects, (3) fund the debt service requirements for the Series 1997A Certificates, and (4) pay
the costs of issuance of the Series 1997A Certificates.
The bond liability for the Series 1997A Certificates is recorded in the General Long -Term Debt
Account Group, Data Processing and the Equipment Replacement Fund.
Principal payments are made annually on April 1, and interest payments are made semi-annually
on April 1 and October L
r
4S
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG-TERM OBLIGATIONS - Continued
$ 765,000 Certificates of Panicipation (Capital Improvements Projects) Series 1997B
Year Ending
Interest
Principal
Interest
lune 30
Rate
Due
Due
Total
1998
4.700%
$ 75,000
$ 31,100
$ 106,100
1999
4.700
75,000
33,795
108,795
2000
4.700
80,000
30,270
110,270
2001
4.800
80,000
26,510
106,510 _
2002
4.900
80,000
22,670
102,670
2003
5.000
85,000
18,750
103,750
2004
5 000
85,000
14,500
99,500
2005
5.000
205,00
10,25
215,25
$ 765.000X187
845
952,845
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 National Bank (the "Trustee"). The purpose of the 1997B Series
certificates is to (1) defease $755,000 outstanding principal amount of Cape Girardeau (Missouri) _
Public Facilities Authority, Building and Equipment Leasehold Revenue Bonds (Airport
Improvement Project) Series 1990B, and (2) pay the costs of issuance of the Series 1997B
Ccnificates. ..
'Che bond liability for the Series 1997B Certificates is recorded in the General Long -Tenn Debt
Account Group.
Principal payments are made annually on April 1, and interest payments are made semi-annually
on April l and October 1.
46
City of Cape Girardeau, Missouri
r
NOTES TO FINANCIAL S'I'ATEMEN'CS
June 30, 1997
NOTE E -LONG-TEKM OBLIGATIONS -Continued
The annual requirements to amortize all debt outstanding as of June 30, 1997 including total
interest payments of $36,449,240 are as follows:
�.
General
Leasehold
Certificates
Year Ending
Obligation
Revenue
Revenue
of
June 30
Bonds
Bonds
Bonds
Participation
Total
1998
S 467,738 $
2,163,768
$ 2,703,800 $
1,224,379
$ 6,559,685
1999
468,806
2,199,857
2,685,935
1,267,149
6,621,747
�.
2000
463,488
2,251,720
3,161,485
1,294,137
7,170,830
2001
461,805
3,472,298
823,225
1,317,175
6,074,503
'
2002
463,555
4,128,743
806,500
1,355,883
6,754,681
2003
458,875
4,218,827
473,200
1,374,363
6,525,265
2004
458,125
4,331,727
218,250
1,393,496
6,401,598
2005
461,250
4,441,702
504,000
1,837,915
7,244,867
2006
-
4,583,584
-
435,382
5,018,966
2007
-
4,629,605
-
981,875
5,611,480
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
E
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
-
1,021935
1.021.935
3,703,642 $ 72,573,138
11,376 395 $
12,721,727
100 374 902
The cash available to service Revenue Bonds are $1,072,284 and $1,248,502 for the Sewer Fund
and Water Fund respectively,
47
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE E - LONG-TERM OBLIGATIONS - Continued
The cash available to service the Leasehold Revenue Bonds in the Enterprise Funds and the
General Long -tern Debt Account Group are $301,007 and $2,156,683 respectively.
The cash available to service the Certificates of Participation in the Proprietary Funds and the
General Long-term Debt Account Group are $419,627 and $469,896 respectively.
Included in restricted cash on the balance sheet of the Proprietary Funds is $22,874,615 which is
the balance in the various project accounts which represent incomplete projects at June 30, 1997. _
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, 1996, the City defeased (in -substance) 58,090,000 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 front
the investments arc 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 June 30, 1997, defeased debt still
outstanding consisted of $8,090,000 in the Enterprise Funds.
In June, 1997 the City of Cape Girardeau issued Certificates of Participation to defcase (in -
substance) $755,000 of Building & Equipment Leasehold Bonds, Series I990B. As of Rme 30, _
1997, defeased debt still outstanding consisted of $755,000 in the General Long-term Debt
Account Group (GLTDAG). Pursuant to GAAP, defeased debt is not shown on the face of the
balance: sheets.
As a result of the in -substance defeasance, the City reduced its total debt service requirements
by $77,270, which resulted in an economic gain (difference between the present value of the
debt service payments on the old and new debt) of $32,708.
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 mininmm lease _
payments or the fair value of the asset The assets are amortized over their estimated productive
IIVCS. Current amorlizatiou cxpcusc is included in depreciation expense.
No capital lease obligation existed as of June 30, 1997.
sn
r City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
r June 30, 1997
NOTE G - DEFICIT FUND BALANCES/RETAINED EARNINGS
r
The following individual funds have deficit fund balances/retained earnings at June 30, 1997.
Enterprise Funds
Solid Waste Fund $ 717,753
r Softball Complex Fund 143,976
.. Capital Projects Funds
Water Projects 292,680
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
r
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
t, 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.
n
The Missouri Local Govenunent Employees Retirement System issues a publicly available
r 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 Poliev
The City of Cape Girardeau's full -lime employees do not contribute to the pension plan. The
political subdivision is required by state statute to contribute at an actuarially determined rate;
r the current rate is 7.9% (general), 7.0% (police) and 13.9% (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
r statute.
r
r
r
49
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENMI'S
lune 30, 1997
NOTE li - PENSION PLAN - Continued
3. Annual Pension Cost
For 1997, the political subdivision's annual pension cost of $753,807 was equal to the required
and actual contributions. The required contribution was determined as part of the February 28,
1995 and/or 1996 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 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 mcm and 6 years for
women. The actuarial value of assets was determined using techniques that smooth the effects
of short-term volatility in the market value of investments over a five-year period. The
unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll
on a closed basis. The amortization period at February 28, 1997 was 16 years.
Three -Year Trend Information
Fiscal
Annual
Year
Pension
Ending
Cost (APC)
06/30/95
693,627
06/30/96
779,824
06/30/97
753,807
Percentage
Net
of APC
Pension
Contributed
Obligation
100%
0
100%
0
100%
0
so
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE H - PENSION PLAN - Continued
3. Annual Pension Cost - Continued
Required Supplementary Information
Schedule of Funding Progress
(a) (b) (b -a) (a/b) (c)
((b-a)/c)
Entry Age Unfunded
UAL as a
Actuarial Actuarial Actuarial Accrued Aminal
Percentage of
Valuation Value Accrued Liability Funded Covered
Covered
Date of Assets Liability (UAL) Ratio Payroll
Poll
02/28/95 11,437,061 12,415,102 978,041 92% 7,646,328
13%
02/29/96 11,745,277 13,096,931 1,351,654 90% 8,010,696
17%
02/28/97 13,511,019 14,466,970 955,951 93% 8,725,334
11%
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
actuarial assumptions were changed in conjunction with the February
29, 1996 annual actuarial
valuations.
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.
NOTE I - INTEREST EXPENSE
Interest cost, including handling charges, totaling $3,404,825, excluding $193,925 of interfund
interest, was incurred during the year ended lune 30, 1997. No interest cost was capitalized as
part of the cost of assets constructed during the period.
51
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENT'S
June 30, 1997
NOTE J - INTERFUND RECEIVABLES AND PAYABLES
The following is a summary of interfund balances as of June 30, 1997:
Due to/from other funds:
Due to Due from
General Fund $ 1,025,570 $ -
Geneml Capital Improvement Fund - 170,297
FAU Street Grants Fund - 138,986
CDBG Fund - 43,607
Water Projects Fund - 143,434
Sewer Fund 529,246
1 025 570 1 025 570
Advance to/from other funds:
Advances from Advances to
General Fund $ 1,867,500 $ -
Sewer Fund - 337,500
Solid Waste Fund - 950,000
Golf Course Fund - 390,000
Softball Complex Fund - 190,000
L1_8 L1,97.500
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, pennits 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 wider 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.
52
` City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE K - DEFERRED COMPENSATION PLAN - Continued
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.
City of Cape Girardeau, Missouri
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 infomlation for the year ended lune 30, 1997 was as
follows:
53
Softball
Sewer
water
Solid Waste
Golf Course
Complex
Total
Fund
Fund
Fund
Fund
Fund
Enterprise
Operating Revenues
E 2,423,120
E 4,011,943
$2,227,158
E 483,446
E 58,448
$ 9,204,115
Depreciation
795,561
391,306
221,726
57,328
7,000
1,472,921
Operating Grants
(183)
-
12,358
-
-
12,175
Operating Income (Loss)
437,298
882,210
59,337
24,897
(177,547)
1,226,195
Operating transfers in
-
-
-
10,000
207,100
217,100
Net Income (Loss)
78,824
253,969
22,991
18,827
18,955
393,566
Current Capital
Contributions
826,066
746,020
-
645
3,126
1,575,857
Property, Plant and Equipment
Additions
4,946,478
1,167,794
223,910
93,270
12,433
6,443,885
Deletions
-
-
(59,516)
(52,880)
-
(112,396)
Nor Working Capital
23,481,886
2,826,250
(173,820)
(346,895)
(188,602)
25,598,819
Total Assets
53,407,329
15,578,954
2,022,910
424,850
84,006
71,518,049
Bonds and Other Long -
Terra Liabilities
Payable Gom operating
revenues
33,914,821
12,301,405
806,726
-
-
47,022,952
Total Equity
E 17,540,256 E
2,434,230
E (717,753)
E 4,929 E
(143,976)
E 19,117,686
53
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE M - RESERVATION OF FUND EQUITY
At lune 30, 1997, the City had reserved its fund equity as follows:
General Fund
Reserved for prepaid items $ 55,270
Reserved for advances 1,867,500
Reserved for mausoleum maintenance 60,022
Reserved for police projects 45,679
Reserved for encumbrances 69.313
$ 2,097,784
Special Revenue Funds
Convention/Visitors Fund
Reserved for encumbrances
$ 1,972
Airport Fund
Reserved for prepaid items
9,589
Reserved for encumbrances
1,590
Parks and Recreation Fund
Reserved for prepaid items
536
Reserved for encumbrances
6,933
Transportation Sales Tax Trust Fund
Reserved for encumbrances
255.642
276 262
Debt Service Fund
Reserved for debt service
3 521 034
Capital Projects Funds
General Capital Improvement Fund
Reserved for debt service
219
Reserved for bond capital expenditures
6,776
Reserved for encumbrances
"20,762
Corps Flood Control Fund
Reserved for encumbrances;
56,370
FAU Street Grants Fund
Reserved for encumbrances
24,665
Community Development Block Grant Fund
Reserved for economic development loan repayments
77,268
Reserved for encumbrances
22,116
Park Improvements Fund
Reserved for encumbrance
12,767
Water Projects Fund
Reserved for encumbrance
1.676.777
LL -897 720
54
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE N - RESERVED RETAINED EARNINGS AND RESTRICTED ASSET
ACCOUNTS
As of June 30, 1997, the reserved portion of retained earnings for the Sewer Fund is as follows:
Reserved for debt service 30000
Total reserved retained earnings 30000
At June 30, 1997, the City has restricted assets in its Proprietary Funds as follows:
$ 22,856,282 13,700,501 $ 26,556,783
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 Jane 30, 1994, and an
expense provision and related liability were recognized at that time based on the future closure
and postelosure 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 postclosme care costs is $822,960 as of June 30, 1997, 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, 1997. However, the actual cost
of closure and posiclosure 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.
55
Revenue Bond
Bond
Sinking and
Construction
Reserve Fund
Total
Sewer Fund $ 21,235,956
$ 2,296,715
$ 23,532,671
Water Fund 832,964
1,307,885
2,140,849
Solid Waste Fund 819
95,667
96,486
Data Processing Fund 423,178
115
423,293
Equipment
Replacement Fund 363,365
119
363,484
$ 22,856,282 13,700,501 $ 26,556,783
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 Jane 30, 1994, and an
expense provision and related liability were recognized at that time based on the future closure
and postelosure 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 postclosme care costs is $822,960 as of June 30, 1997, 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, 1997. However, the actual cost
of closure and posiclosure 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.
55
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE P - RISK MANAGEMENT
The government is exposed to various risks of loss related to torts; theft of, damage to and
destruction of assets; errors and omissions; natural disasters and employee health benefits. These
risks, with the exception of those discussed in the following paragraphs, are covered by _
commercial insurance. Settled claims have not exceeded this commercial coverage in any of the
past three fiscal years
The City is a member of the Missouri Public Entity Risk Management Fund, a not-for-profit
public entity insurance pool established by the state legislature. Through this pool the City
receives coverage for general liability, law enforcement liability, vehicle loss and accident
liability, errors and omissions, and employee benefit liability. Risks for these coverages are
spread across members of the fund. Currently the fund is comprised of 580 Missouri counties,
municipalities and, special districts. Premiums for these coverages are actuarially determined based
on actual claims of the pool and individual claims of the City. Each year, portions of premiums not
required because of below expected claims are returned to the members. The City has received
refunds of premiums in each of the last five years and has used them to offset the cost of the
succeeding year's premiums.
The City has estabhslned 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 final 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
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 mtes and r
experience factors established by the National Council on Compensation Insurance. Safety National
is rated "A- 8" by A. M. Best.
90
r
o-
r
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE P - RISK MANAGEMENT - Continued
Claims liability is estimated using data supplied by the administrator. The claims activity during
the last three years is summarized as follows:
CLAIMS LIABILITIES RECONCILIATION
NOTE Q - CONCENTRATION OF CREDIT RISKIBAD 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, 1997, utility receivables totaled $1,677,386. On the financial statements, the utility
receivables are shown net of dre allowance for doubtful accounts of $651,730. This results in
net utility receivable of $1,025,656.
57
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 Claims677
714
19( 1.682)86f
9.3961
Balance, July 1, 1995
$ 188,719
$ 155,525
$ 344,244
Provision for Incurred Claims
761,641
176,055
937,696
Payments of Claims
742 23414f
0.160)
88( 2.394)
Balance, July 1, 1996
$ 208,126
$ 191,420
$ 399,546
Provision for Incurred Claims
647,134
173,081
820,215
Payment of Claims72(
0.066)20(
7.562)
92( 7.628)
Balance June 30, 1997135
194
156 939
292 133
NOTE Q - CONCENTRATION OF CREDIT RISKIBAD 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, 1997, utility receivables totaled $1,677,386. On the financial statements, the utility
receivables are shown net of dre allowance for doubtful accounts of $651,730. This results in
net utility receivable of $1,025,656.
57
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
June 30, 1997
NOTE R - COMMITMENTS AND CONTINGENCIES
1. Lineation
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 Stale Grants for specific purposes that are subject to review and audit
by various Federal and State agencies. Such audits could result in a request for reimbursement by
any of the Federal and State agencies for expenditures disallowed under the. terms and conditions
of the appropriate agency. In the opinion of City management, such disallowances, if any, will not
be significant.
3. Construction Commitments
As of June 30, 1997, die City had construction commitments outstanding of $1,292,666.
4. Encumbrances
As of June 30, 1997, the City had encumbrances outstanding of $3,989,292.
NOTF, S - CONTRDIOTED CAPITAL
The changes in the contributed capital accounts for the enterprise funds were as follows
M
Solid
Golf
Softball
Souro Sewer
Water
Wa a
Course
Compt
Total
Beginning Balance, July 1, 1996 S 15,913,834 $
1,192,526
S 288,585
-
-
$ 17,394,945 r
Contributing Sources:
Donated assay by dewlopers 432,010
260,548
-
-
-
692,558
Connection foes 138,520
-
-
-
-
138,520 r
Stare grants 255,536
485,472
-
-
-
741,008
Transfer of assets from GFAAG -
-
-
645
3,126
3,771
Ending Balance, June 30, 1997 S 16 739 900 $ 1,938 546
288 585
$ 645
3,12
19,970,802
M
City of Cape Girardeau, Missouri
NOTES TO FINANCIAL STATEMENTS
r June 30, 1997
NOTE T - EXCESS OF EXPENDITURES/EXPENSES OVER APPROPRIATIONS
For the year ended June 30, 1997 expenditures/expenses exceeded appropriations in the
individual funds as follows:
NOTE U - PRIOR PERIOD ADJUSTMENTS
Beginning fund balances were reduced $30,945 and $19,000 in the general and solid waste funds
respectively. The general fund reduction resulted from an adjustment to other receivables for
r receipts that had been received in previous years and counted as revenue in error. This caused
revenue to be overstated by $9,440, $3,145, and $18,360 respectively in fiscal years ending June
30, 1994, 1995, and 1996, respectively. The solid waste fund reduction resulted from accrued
revenue recognized in the fiscal year ending June 30, 1995 being recognized as revenue again in
the fiscal year ending June 30, 1996 resulting in an overstatement of revenue for that period.
The acemed revenue was removed from the solid waste fund's assets this year.
r
59
Budget
Actual
Variance
Airport Special Revenue
$ 509,363
$ 515,027
$ 5,664
General Capital Improvement Fund
397,000
404,491
7,491
Debt Service Fund
3,100,573
3,763,857
663,284
Employees Fringe Benefit Fund
1,057,047
1,342,857
285,810
NOTE U - PRIOR PERIOD ADJUSTMENTS
Beginning fund balances were reduced $30,945 and $19,000 in the general and solid waste funds
respectively. The general fund reduction resulted from an adjustment to other receivables for
r receipts that had been received in previous years and counted as revenue in error. This caused
revenue to be overstated by $9,440, $3,145, and $18,360 respectively in fiscal years ending June
30, 1994, 1995, and 1996, respectively. The solid waste fund reduction resulted from accrued
revenue recognized in the fiscal year ending June 30, 1995 being recognized as revenue again in
the fiscal year ending June 30, 1996 resulting in an overstatement of revenue for that period.
The acemed revenue was removed from the solid waste fund's assets this year.
r
59
THIS PAGE INTENTIONALLY LENT BLANK.
0
I
C
COMBINING, INDIVIDUAL FUND AND
ACCOUNT GROUP STATEMENTS AND SCHEDULES
61
THIS PAGE INTENTIONALLY LEFT BLANK.
62
5
GENERAL FUND
The General Fund is used to account for those activities which are associated with the general
government of the City. It accounts 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 $0.33 per $100 assessed
valuation.
L
A
1 63
THIS PAGE INTENTIONALLY LEFF BLANK.
64
City of Cape Girardeau, Missouri
GENERALFUND
COMPARATIVE BALANCE SHEET
JUNE 30, 1997 AND 1996
r
1997
1996
ASSETS
r
Cash and cash equivalents
$2,276,027
$1,886,811
Receivables, net of allowances for
e
doubtful receivables
Real estate, personal property
°i
and merchant taxes
36,982
40,978
Sales lax
737,308
565,962
Franchise tax
1,019,659
1,073,061
r
Special assessments receivable
52,450
45,840
Interest receivable
215,790
153,002
Other receivables
51,169
148,571
Intergovernmental receivables
Grants receivable
324,644
261,733
Due from other funds
1,025,570
1,743,249
e
Advances to other funds
1,867,500
1,752,500
Inventories
627
90
r
Prepaid items
55,270
57,043
Total assets
$7,664 996
$7 728 840
r
LIABILITIES AND FUND BALANCES
r
Accounts payable
$246,221
$293,456
Accrued liabilities
F
Salaries, payroll taxes and benefits
263,520
286,112
Other liabilities
129,281
140,672
Due to other governments
20
_
Deferred revenue
1,618,673
1,519,471
Total liabilities
2,257,715
2,239,711
�.
Fund Balances
Reserved for prepaid items
55,270
57,043
r'
Reserved for advances
1,867,500
1,752,500
Reserved for mausoleum maintenance
60,022
56,441
Reserved for police projects
45,679
42,407
i„
Reserved for encumbrances
69,313
132,507
Unreserved
3,309,497
3,448,231
a
Total fund balances
5,407,281
5,489,129
r
Total liabilities and fund balances
$7664996
$7728840
r
r
r
65
e
r
City a Cape Guard®u. Mi®aud
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES—
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE W. 1907
TOTALOTHER FINANCING SOURCES
(USES) (1,060922) (900,193) 100,49
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES (El,Snti W) $12,291 51.580.311
VARIANCE
FAVORADIE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Teas
510.536925
510203,793
(5335,032)
lammees and paned
911950
081.887
(26.9631
lnbar annendl
330,375
1,M,813
1688,416
ClarpsebceWcse
312,835
238,824
(73,811)
Ir4adepa4ren61 earvlcea
495.000
4(8.518
(15.452)
Fdeeendroremse4
540.000
650,759
16,759
S9scrola.
W,OW
10).830
47.638
IMaDnA
241,@5
233288
(11 .7)
spec%I meassmente
1600
7.123
8.123
TOTAL REVENUES
13.437.110
64464,473
9)).3&6
EXPENDITURES
Cun eel
Abninktrade sa not s
City..l
29,121
19,825
9,480
Human A,UV008
169993
153,618
15,066
City nenaper
181,499
1)6.419
5.080
Puelm ewaenee4
55.007
0,116
7,874
Cftyatlonley
187,310
150.370
18.940
Fluence
344806
39.839
15.147
Irdadeparlrrlertal
49,933
38.5.118
s4.81s
rdelahNriebel'wa cav4ae
eerw.m
1,3065:8
1261122
125,417
FLPl aanneNrq n, sd
eavia3
2S6295
222.706
13,567
9apecOPneatiYe
2>6,881
299,58
(3929)
savicc
403,0&9
439.582
138,493)
Communllyand mlc tlevelapmea
Community
BLOW
49,410
31PuNic261
rlati.
Yanspatont
3W.on
216,549
21281
Tool
TWelde.ticn[eavleee
16280)5
1.300,058
26.016
Parka
Pak meln[enence
maintenance
713, 0
2$5)6
Ccilfty
116,781
118814
113,40.5
3,1®
FTotalp
19.786
t'ffi,t52
3,809
ri...cl,c,
Tlic parks end rea®tion
1611.158
984,800
9,358
Pu0lk;sare(y
mu�,l tout
250.302
196.516
12788
Police
Por
3950754
3642,714
105040
M.
2,752,30.9
2955.1
98,184
Ttl safety
6912,4fb
8996,395
21),010
P surra works
Street
1.449.955
1,328291
121964
StarmwatN
250.300
23669)
11.815
Tall plLlc woke
1700.262
1566,781
133.08
Cd4tge11ry
16!16 0.'V
163383)
(28830)
Deetsena
Intermit addfiscal clnrpes
1(D
—
116
radl aect�e
tau
tau
TOTAL EXPENDIRIRES
13,84498
13,441989
502,549
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(507,428)
BT2,484
1479,912
OTHER RNANCING SOURCES (USES)
OpadingtarNas In
816,735
816,735
—
Cpaatin9(r4nsrascul
U689,357)
(I 608,236)
83,121
Procee�trom feed eased
10000
27.300
17.308
TOTALOTHER FINANCING SOURCES
(USES) (1,060922) (900,193) 100,49
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES (El,Snti W) $12,291 51.580.311
C
C�
SPECIAL REVENUE FUNDS
Convention and Visitors Fund - to provide for the receipt and distribution of all funds in
conjunction with the hotel -motel and restaurant taxes. These are gross receipt taxes which
provide for a rate of 3% on motel rooms and I% on restaurants.
e 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
E activities. Financing is provided by user fees including hangar and terminal rentals and
general fund transfers.
r Downtown Business District Fund - 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
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. Brase Arena and Osage
Park multi-purpose building, and various recreation programs. Financing is provided by user fees
and general fund transfers.
Health Fund - to account for limited funding for enforcement of health ordinances through a
separate tax levy of $0.06 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 (Flood Control) Fund - to account for the receipt of 1/4 cent
sales tax collections to fund major capital improvement projects for flood control.
Capital Improvement Sales Tax (Water Projects) - to account for the receipt of I/4 cent sales
tax collection to fund major renovation and expansion of capacity at Water Plant #1 and various
other major water projects.
Transportation Sales Tax Trust Fund - to account for the receipt of 1/2 cent sales tax
collections to fund major street projects.
f Flood Protection Fund - to account for flood control maintenance of the Cape LaCroix Creek.
Vision 2000 Fund - to account for the development of a community strategic plan to
aggressively lead the City into the year 2000. It represents community opinions to meet needs
Eand desires for the future of the City such as community spirit, planning and zoning, business,
r and education.
67
THIS PACE INTENTIONALLY LEFT BLANK.
M
F .a
r
r-
_.
_ r-
r v r..
CM m cya clme®u, liwvl
SPEOALREV NI£ FLMOS
CCaaEl BALANCE SWET
J. W. 199)
(NM WrgleelNe TOUY f¢. W.1tem
C,U
C,U
Oownlown
Nry.."
Imp.mem
ComN amb
6161.
Neta well
Motor Sales Ta
Select Tax
TrarleooNstlon
FbaC
Ve1on
Toth
NSaom
All
Dlerti
R¢fwbn
Kwh Fuel Tu IFloW Common
M9ta Pef¢63
Sobs Ta J
otootft
Z-
g -3J-91
A= =)g_
ASSETS
Ce9591acadbejuNelema
$393,524
$67,5W
$1$53
$1147%
$ IQ2 M71, 1]] $1539314
$101091
$3613,142
$4687
$131
$55%,759
52,467,401
Imwelerente
1 Q10.000
1,m0,Wo
1 WO,OoO
R¢eNablee, net 01 allowamee for
C0IOINIr¢aN�lee
Reeletele
4,342
-
5,167 - -
-
-
-
-
989
048
1,316
1,056
HowOnaprm
orece
Roml-mottlro r6Mabfo
24.951
-
-
-
- - -
-
-
-
-
29951
31¢17
otto
Rett m.lt. r¢eNaele
44166
-
-
-
- -
-
-
-
-
Motor rueltax
66967
MP67
66(6)
mm
B5p65
Motorrehtl9lc lead
-
-
-
-
- 1915 -
-
-
_
_
1218
15349
t.1
Motor re6blaeele ia2
-
-
-
-
-19645 -
-
-
-
-
19815
175[0
ClSe raeNablaa
-
19020
-
221
1 - -
-
-
-
-
198A3
1
_
_
_
_
_ 161,211
1743A
363,E26
-
-
722,3]1
,7
4WA15
Imean r¢aNable
owww
-
-
-
- 10598 23224
-
-
-
-
3388
32015
ommsaeNeble
13,460
,
_
_
_
_ _ _
_
_
_
_
13,460
12971
16,769
-
-
- - -
-
-
-
-
19219
preeme169
Sema
-
9.569
.
-
538
- - -
-
-
-
-
10125
lolm
11161
D,wfro
Ouehom oder Net.
�9 Topl.44069)6]0
lad
(
11E SSN
115% )5 99.0% $2746.769
]5 155
sane
131
1192
7861
LJAB111316 AW FUND BALANCES
Acmunlapayeble
Sll,P4
40.4930
S -
ill
63713 5 - S -
$ -
566125
$ -
$ -
$206463
$153021
A ewrl Ilablmles
Selamespayroll 0xee ab te"offs
2,9.5
11¢21
-
42869
1,910 - -
-
-
-
-
MW7
49,602
Other 1latIIltlleb
-
So
-
309
H9
4LC1
Due to omer hilae
-
-
-
-
-
-
De5w,iol erne
-
23697
6,3x2
-
5,513 - 361,91
-
12515
-
-
42796
401576
Tmel llirllttl®
14'63
789]5
4,342
110,111
11,196 361,01
92660
G939]
634,E
F2ra bd a208
Ree6hsl brpm,ed ttems
9, FHB
-
x36
- - -
-
-
-
10.125
11,101
R.,. orelcumera¢ee
1,972
1,530
-
6,913
- -
-
255,612
-
266137
512,96
(Jewel
181,455
6549
1,553
2,0x1
200,341 79955 2,85170
275,155
3428M
4_937
131
7,551633
389,115
Tohl tura bt,v .
403127
177M
1,550
5,633
2N,3't2 7NM 2,85.178
275,155
3,®x,306
4_x7
131
7,837,095
4,83,001
Tolelliabllllleeera furl balace4
978]0
SW.744
A56921$
15544
$211556 $M..9% 42746749
$275,155
$3.P696B
&BB)
131
1192
7681
SPECIAL REJENUEFUNDS
CpA RNEO STATEMENT OF REVENUES, EI(PENDITUREB AND
CHANGES IN FUND BALANCE
FOR THE FISCAL YEAR ENDED JUNE 30. 190
1 t I I 1 I 1 t I 1 I 1 1 1 1 1 l 1 1
CAPITALCA"I
M.TOAH
MPRONENENT
INPRCYEMENT
TRANSPORTATION
CCNVENTCN1
BUSINESS
PAWS AND
ACTON
SALES TAX
SALES TAX
RALES
WCCO
VISION
TOTALS
VISITORS
AIRPORT
DISTRICT
RECREATION
HEALTH
FU6 TA%
IR COG CCMRQ)
(WATER P9I0E1,T9)
TAX
PROTEOTICN
21po
1008 -IW]
RVENUES
Tex. ffi]O eBR
f-
f15]N
f-
61W,pW
S-
H.S', IW
1211010
nbrpwernmenhl In.
-
-
A..
1.]1].000OH
ps,m1
OMrpa lma,9@
5RY
-
2=
_
_
XR.'SHM
hbcelhnewn. ]11
19,
-
1 5.231
-
-
41
_
_
_
3C@
11],0]1
i1b. 'PJ.
-
515
zaw
10m2
A3 078
141 eel
an
al,ase
243
a
-Il—
TOTAL REVENUES STJBi2
111.71
I1,15.
2®L.0
14,204
I`IV gP
10U BB8
2]5155
a37A,.
141
],1i1
ASIS, Rt
EXPENDITURES
Cur ent
AEminhbI.. GrA— 315711
59,pd
$15.720
CereloPm.R ew+k. -
-
15218
2,410
IS.
Perk. In r.r.I-
P.k'In'
1N, R]
_
_
...
PWk—II.
05,208
-
_
BIS}RPr,
GeSn.1,[
l -
AYR]
In.r.
o mMrs.ne n.rinnopa
�z1e
TOTAL EXPENOTNRER 311]11
513W
HIGH
BSS`PM
...
45`2%
_
_
pA,5T1
X110
2�,�4L`TG
EXCESS (DEFICIENCY) OF REVENUER
OVER SINGER) EXPENDIT 111-5
17�.89.�
5n]5(
89.013
�310a2
1_i�]11
1.811 �5
2 _1.
211.. T28
203
Si`m
OFFERRNANCIND BOURCESIUSESI
CPentlnp Ven.bn In -
2A..
-
82,0.'0
1q.
-
-
ISSOYI
O..II ppen.bn wl ASAI.
X3
q
(13U,18B
TOTAL OTHERFINANCIMG SOURCES
UBE9) ("i SAO
201,008
-
N. ow
(11 W]1IB45�W"._
13u.Aeq
-
1+a,oW1I
V4 %M
EXCESS IOEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
CV ER (UNDER) EXPENCHURES AND
OTHER FINANCING USES 80215
11+BMI
SQ
1103
2j725
YP ]11
1)0,55]
2]5,115
2,.YB,720
VC
1288
].)51,82
FUND BALANCES, JLLY 1 411,112
82,128
1 A
12.O,C
IP@]
W1,595
1,.,815-
119, W3
A,W1
41.
1,CW W8
PRIOR PER GOADLSTMENT
FUND BALANCES, JUNE TJ .A21
li'll'8B
I'M
ia�
S..
SSSS
f22851]e
STI��I'A
53 YA
U .7
$131
$EM7. 5
1 t I I 1 I 1 t I 1 I 1 1 1 1 1 l 1 1
r
..
City of Cape Girardeau, Missouri
CONVENTION/VISITORS SPECIAL REVENUE FUND
SCHEDULE
OF REVENUES
AND EXPENDITURES -
r
BUDGET AND ACTUAL
(BUDGET BASIS)
FOR THE FISCAL YEAR ENDED
JUNE 30, 1997
t
r
VARIANCE
!
FAVORABLE
BUDGET
ACTUAL
r
_(UNFAVORABLE)
r
REVENUES
Taxes
$910,000
$870,488
($39,512)
s
Intergovemmaniai
-
13,480
13,480
Charges for services
8,000
4,892
(3,108)
Miscellaneous
-
311
311
Interest
5,000
34,658
29,658
c
r
TOTAL REVENUES
_ 923,000
923,829
_,__ 829
r
EXPENDITURES
Current
r
Administrative services
559,001
_ 316,996
242,005
TOTAL EXPENDITURES
559,001
_ 316,996
242,005
r
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
363,999
_ 606,833
242,834
r
r
OTHER FINANCING SOURCES (USES)
Operating transfers out
---L54t,800)
541,80➢
-
TOTAL OTHER FINANCING SOURCES
r
(USES)
--541,soa
1541,800
r
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
•
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES801
$66.. 03
_ $242,834
r
r
r
r
r
r
r
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, 1997
VARIANCE
FAVORABLE
BUDGET ACTUAL
(UNFAVORABLE)
REVENUES
Intergovernmental $77,000 $ —
($77,000)
Charges for services 4,800 5,832
1,032
Miscellaneous 99,620 109,045
9,425
TOTAL REVENUES 181,420 114,877
(66,543)
EXPENDITURES
Current
Administrative services 509,363 501,512
7,851
Debt Service
Principal — 12,297
(12,297)
interest and fiscal charges 1,218
(1,218)
TOTAL EXPENDITURES 509,363 515,027
5,664
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (327,943) (400,150)
__L72 2071
OTHER FINANCING SOURCES (USES)
Operating transfers in 328,000 353,000
25,000
TOTAL OTHER FINANCING SOURCES
(USES) 328,000 353,000
25,000
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES $57 ($47150)
($47207)
72
B-
$16,900
$15,244
r
Interest
600
515
City of Cape Girardeau, Missouri
TOTAL REVENUES
17,500
DOWNTOWN BUSINESS DISTRICT SPECIAL REVENUE FUND
(1,741)
EXPENDITURES
SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
Development Services
V
15,216
104
C
15,320
VARIANCE
104
EXCESS (DEFICIENCY) OF REVENUES
FAVORABLE
BUDGET ACTUAL
(UNFAVORABLE)
B
$543
($1637)
r
REVENUES
Taxes
$16,900
$15,244
$1,656)
Interest
600
515
(85)
TOTAL REVENUES
17,500
15,759
(1,741)
EXPENDITURES
Current
Development Services
15,320
15,216
104
TOTAL EXPENDITURES
15,320
15,216
104
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
$2,180
$543
($1637)
r
73
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, 1997
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Charges for services
$309,000
$290,827
($18,173)
Miscellaneous
—
5,233
5,233
Interest
2,393
_
2393
TOTAL REVENUES
309,000
298,453
(10,547)
EXPENDITURES
Current
Parks and recreation
971,096
874,937
96,159
Debt service
Interest and fiscal charges
—
TOTAL EXPENDITURES
971,096
874,937
96,159
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(662096)
(576,484)
85,612
OTHER FINANCING SOURCES (USES)
Operating transfers in
650,000
605,000
(45,000)
TOTAL OTHER FINANCING SOURCES
(USES)
650,000
605,000
(45,000)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
($1Q096)
$28,516
$40,612
74
City of Cape Girardeau, Missouri
HEALTH SPECIAL REVENUE FUND
SCHEDULE OF REVENUES AND EXPENDITURES —
r BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
r
r
75
VARIANCE
FAVORABLE
r
BUDGET
ACTUAL
(UNFAVORABLE)
r
REVENUES
Taxes
$175,475
$163,860
($11,615)
Intergovernmental
4,700
4,602
(98)
r
Interest
7,750
10,802
3,052
TOTAL REVENUES
187,925
_ 179,264
(8,661)
r
EXPENDITURES
Current
Public safety
169,390
142,277
27,113
Debt Service
Interest and fiscal charges
250
250
TOTAL EXPENDITURES
169,640
142,277
27,363
r
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
18,285
36,987
18,702
r
OTHER FINANCING SOURCES (USES)
Operating transfers out
(11,520)
(11.907)
(387)
r
TOTAL OTHER FINANCING SOURCES
o
(USES)
(11,520)
(11,907)
(387)
r
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
$6765$25080
$18315
r
r
r
r
r
75
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, 1997
70
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
Intergovernmental
$1,295,000
$1,313,999
$18,999
Interest
5,000
48,678
43,678
TOTAL REVENUES
1,300,000
1,362,677
62,677
EXPENDITURES
Current
Public works
10,000
15,391
(5,391)
Debt Service
Interest and fiscal charges
TOTAL EXPENDITURES
10,000
15,391
(5,391)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
1,290,000
1,347,286
57,286
OTHER FINANCING SOURCES (USES)
Operating transfers out
(895,000)
(885,000)
10,000
TOTAL OTHER FINANCING SOURCES
(USES)
(895,000)
(885,000)
10,000
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
$395000
$462,286
$67286
70
r City of Cape Girardeau, Missouri
CAPITAL IMPROVEMENT SALES TAX SPECIAL REVENUE FUND
FLOOD CONTROL PROJECTS
r SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
r
w
77
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
REVENUES
_
Taxes
$1,750,000
$1,670,107
($79,893)
Miscellaneous
_
—
r
Interest
103,500
141,882
38,382
TOTAL REVENUES
1,853,500
1,811,989
(41,511)
`
EXPENDITURES
Current
r
Public works
102,400
—
102,400
Debt Service
Interest and fiscal charges
—
TOTAL. EXPENDITURES
102,400
102,400
EXCESS (DEFICIENCY) OF REVENUES
r'
OVER (UNDER) EXPENDITURES
1,751,100
1,811,989
60,889
OTHER FINANCING SOURCES (USES)
Operating transfers out
(1,937,400)
(1,333,486)
603,914
TOTAL OTHER FINANCING SOURCES
(USES)
(1,937,400)
(1,333,486)
603,914
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
r
OTHER FINANCING USES
__f$186300)
$478.503
$664,803
r
w
77
City of Cape Girardeau, Missouri
CAPITAL IMPROVEMENT SALES TAX SPECIAL REVENUE FUND
WATER PROJECTS
SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
REVENUES
Capital Improvements $ — $274,678 $274,678
Interest 47 477
TOTAL REVENUES 275,155 275,155
EXPENDITURES
Public works
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES $0 $275155 $275155
78
79
City of Cape Gifardeau, Missouri
TRANSPORTATION
SALES TAX TRUST SPECIAL REVENUE FUND
r
SCHEDULE
OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
i,
FOR THE
FISCAL YEAR ENDED JUNE 30, 1997
r
VARIANCE
FAVORABLE
r
BUDGET ACTUAL
(UNFAVORABLE)
REVENUES
Taxes
$3,500,000 $3,232,939
($267,061)
Interest
141,359
141,359
r
TOTAL REVENUES
3,500,000 3,374,298
(125,702)
EXPENDITURES
r
Current
Public works
4,343,600 770,782
3,572,818
r
TOTAL EXPENDITURES
4,343,600 770,782
3,572,818
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(843,600) 2,603,516
3,447,116
OTHER FINANCING SOURCES (USES)
r
Operating transfers in
150,000 140,000
(10,000)
TOTAL OTHER FINANCING SOURCES
(USES)
150,000 140,000
(10,000)
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
($693600) $2743516
$3.437116
r
r
r
r
79
City of Cape Girardeau, Missouri
FLOOD PROTECTION SPECIAL REVENUE FUND
SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
REVENUES
Interest $
$280
$280
TOTAL REVENUES
280
280
EXPENDITURES
Current
Administrative services
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES $ —
$280
$280
r
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, 1997
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
REVENUES
Miscellaneous
$4,825
$3,082
($1,743)
Interest
40
40
TOTAL REVENUES
4,825
3,122
(1,703)
EXPENDITURES
Current
Development services
5,000
3,410
1,590
TOTAL EXPENDITURES
5,000
3,410
1,590
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
($175)
($288)
($113)
81
THIS PAGE INTENTIONALLY LEFT BLANK.
82
H
f1�
0
I
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.
83
THIS PAGE INTENTIONALLY LEFT BLANK.
84
85
City of Cape Girardeau, Missouri
DEBT SERVICE FUND
COMPARATIVE BALANCE SHEET
JUNE 30, 1997 AND 1996
1997
1996
ASSETS
Cash and cash equivalents
$1,425,737
$824,740
Investments
2,060,523
2,137,084
Receivables, net of allowances for
doubtful receivables
Real estate, personal property
and merchant taxes
12,071
12,863
Special assessments receivable
712,644
662,534
Interest receivable
28,827
30,193
Total assets
$4,239,802
$3,667.414
LIABILITIES AND FUND BALANCES
Accounts payable
$2,167
$ —
Interest payable
285
Due to other funds
—
34,914
Deferred revenue
716,316
673,006
Total liabilities
718,768
707,920
Fund Balances
Reserved for debt service
3,521,034
2,959,494
Total fund balances
3,521,034
2,959,494
Total liabilities and fund balances A,239802$3.667.414
85
THIS PAGE INTENTIONALLY LEFT BLANK.
86
C
t
11
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 account 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 am 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.
Water Improvement Projects - to account for the renovation and capacity expansion of
Water Plant #1 project and various other major water projects. The major funding source of
these projects will be debt proceeds which will be retired from a 1/4 cent capital improvement
sales tax.
i
M
THIS PAGE INTENTIONALLY LEFF BLANK.
W
City of Cape Girardeau, Mlseourl
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
June W. 1887
(With Comperegve Totals fDrJune a0, 1888)
General
Corp
Capbal
Flood
Street
FAO Street
COBG
Perk
Wats
Totals
mprwwam
Conrail
NTpcfwem.nra
Grams
Gent
Immusaments
Proects
a -DD -W
B -3D -BB
ASSETS
(2shend Cash eq,tva[al
$6.990
$]9809]
$248,444
$ -
$178,574
$298,033E1
$ -
$4860$65
Inves"ants
-
343,185
-
-
-
-
-
343�165
Grants receivable
340,750
-
-
216,375
28,325
-
-
565,450
448,261
Special assessments redeivable
-
-
88.438
5,084
-
-
-
]1,522
99,794
nterestreceWeNe
5
1,363
-
-
-
-
-
11368
22,951
NpDSrecdYabe
4,032
4,032
8,065
Total assets34$
]]45
51.140.625
$314.882
$221459
5210.931
$298033
E -
52.5336]5
$5.83377]
`e UABILITIES AND FUND BALANCES
y
MWunts M,be
$51,325
$3,648
$1,960
$78,500
$120
$8,979
$149,246
$291,778
$415,311
Due to other governments
-
-
-
-
1,000
-
-
1,000
1.000
Due to other funds
170,297
-
-
138.988
43,807
-
143.434
496,324
58,144
deferred reveeue
-
8,065
65.346
5,084
78495
98,907
TORI Ilabliltles
221,622
11713
67.306
220,570
44]2]
8,979
Z92.6-80
667,597
57J,362
Fund balances
Reserved la debt service
219
-
-
-
-
-
-
219
835,752
Reserved for bond capital expenditures
8,776
-
-
-
-
-
-
8,770
1,691428
Reserved for econom'm dev, loan repymMs. -
-
-
-
77,288
-
-
]],268
96,358
Reseved for encumbanws
20,762
56,370
-
24.665
22.118
12]8]
1,6]6]]]
1.813.457
4.075A91
(hrBSeved
99,386
1,072.542
247,578
(23,]76)
66.620
276,287
(1,989,457)
(231,842)
(1.238814)
Total fund bafanees
126,123
1,128812
247,576
869
166,204
289,054
(292880)
1,666,078
5,260,415
Total liabilities and fund belandes
534],]45
$1140825
$314,882
$221,459
$210.931
$298,033
--L- --
$2.SJJ 875
$5.833]7]
I 1 1 1 I I I 1 1 1 1 1 1 I 1 I 1 I I
CRY of Cape Girardeau, Missouri
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 30, 1007
GENERAL
CORP
FAU
CAPITAL
FLOOD
STREET STREET CDBG
PAR(
WATER
TOTALS
IMPROVEMENT
CONTROL
IMPROVEMENTS GRANTS GRANT
IMPROVEMENTS
PROJECTS
1008-1007
REVENUES
Intorgmernme Rel
$267,731
$-
$- $573,838 9252,578
$-
-
$1,114,243
IRerest
123,382
89,570
30513 1,091 10722
10,421
-
288,578
Special assessments
-
sxt' 4
23,383 5,004 -
118,811
TOTALREVENUES
411,093
178.804
53,908 501.01( 203,298
10,421
1,493,833
EXPENDITURES
Capitol Outlay
3,378,858
902,304
81 838,534 300,001
21,900
292178
81511.082
Debt se MCe
I Rare st end fisca charges
85,557
So
- 10,923 2,613
5,108
502
04772
TOTAL EXPENDITURES
3,445,415
902453
670,749 947,457 310,614
27,098
292,800
0,598,404
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(3,03x,322)
(722,546)
e( ie.sa3) (366(746) (47,318)
(16,675)
(z9z,eeo)
(5,oeea31)
OTHER FINANCING SOURCES (USES)
Operating transfers in
-
-
- 25,000 26,232
2go0o
-
73,232
Operating transfers=
-
-
(30500) - -
(45,235)
-
(75,735)
Bond proceeds
1,345,030
-
- - -
180000
1505000
TOTAL OTHER FINANCING SOURCES
(USES)
1,345,000
-
(30son) 25,000 28.232
134,765
1,502,497
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
(I'sta 322)
(722,549)
(847,3431 (341,446) it,oeQ
118090
(292,6661
(3,59x.3341
FUND BALANCES, JULY 1
1,815,"5
1.851 ,481
69x,819 342,335 185,288
176,964
S.M,412
FUND BALANCES, JUNE SO
E12912a
#1126912
47576 Sees 1166 2oa
ue9 osa
r$z926ao1
E1.868 ole
I 1 1 1 I I I 1 1 1 1 1 1 I 1 I 1 I I
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, 1997
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
REVENUES
I ntergove m mental
$—
$287,731
$287,731
Interest
123,362
123,362
TOTAL REVENUES
411,093
411,093
EXPENDITURES
Capital outlay
397,000
338,934
58,066
Debt service
Interest andfiscal charges
65,557
(65,557)
TOTAL, EXPENDITURES
397,000
404,491
(7,491)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(397,000)
6,602
403,602
OTHER FINANCING SOURCES (USES)
Operating transfers in
65,000
—
(65,000)
Bond proceeds
1,345,000
1,345,000
TOTAL OTHER FINANCING SOURCES
(USES)
65,000
1,345,000
1,280,000
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
($332000)
$1,351,602
_11&§3 602
91
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, 1997
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
REVENUES
Intergovernmental
$449,600
89,570
($360,030)
Interest
37,500
90,334
52,834
TOTAL REVENUES
487,100
179,903
(307,197)
EXPENDITURES
Capital outlay
1,976,800
951,554
1,025,246
Debt service
Interest an o fiscal charges
69
(69)
TOTAL EXPENDITURES
1,976,800
951,623
1,025,177
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(1,489,700)
(771,720)
717,980
OTHER FINANCING SOURCES (USES)
Operating transfers in
—
TOTAL OTHER FINANCING SOURCES
(USES)
—
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
($1 4897001
($771,7201
$717.980
92
r
City of Cape Girardeau, Missouri
STREET IMPROVEMENT FUND
r SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
r
0
VARIANCE
r FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
r
REVENUES
Interest
$23,000
$30,513
$7,513
Special assessments
29,000
23,393
(5,607)
v
t
TOTAL REVENUES
52,000
53,905
1,905
r
EXPENDITURES
Capital outlay
190,100
134,002
56,098
Debt service
Interest and fiscal charges
TOTAL EXPENDITURES
190,100
134,002
56,098
r
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(138,100)
(80,097)
58,003
r
OTHER FINANCING SOURCES (USES)
Operating transfers in
—
—
_
Operating transfers out
(42,000)
(30,500)
11,500
r
TOTAL OTHER FINANCING SOURCES
(USES)
(42,000)
(30,500)
11,500
r
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
r
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
($180100)
($110597)
___L69 503
r
i
r
6'
4
1r
I
f
93
r
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, 1997
BUDGET
REVENUES
Intergovernmental
$677,290
Interest
5,000
Spacial assessments
TOTAL REVENUES
682,290
EXPENDITURES
Capital outlay
912,100
Interest and fiscal charges
—
TOTAL EXPENDITURES
912,100
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
_ 229,810
OTHER FINANCING SOURCES (USES)
Operating transfers in
25,000
TOTAL OTHER FINANCING SOURCES
(USES)
25,000
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
2048101
ACTUAL
$573,936
1,991
5,084
581,011
499,641
10,923
510,564
70,447
25,000
25,000
VARIANCE
FAVORABLE -'
(UNFAVORABLE)
($103,354)
(3,009)
5,084
(101,279)
412,459
_(10,923)
401,536
300,257
195,447 $300,257
r
9s
r
City of Cape Girardeau, Missouri
COMMUNITY DEVELOPMENT BLOCK GRANT
FUND
r
SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
r
REVENUES
Intergovernmental $350,000
$252,576
($97,424)
Interest
10,722
10,722
TOTAL REVENUES 350,000
263,298
(86,702)
EXPENDITURES
Capital outlay 550,650
321,617
229,033
Debt service
Interest an d fiscal charges
2,613
(2,613)
r
TOTAL EXPENDITURES 550,650
324,230
226,420
r
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (200,650)
(60,932)
139,718
r
OTHER FINANCING SOURCES (USES)
Operating transfers in 50,000
28,232
(21,768)
TOTAL OTHER FINANCING SOURCES
(USES) 50,000
28,232
(21,768)
r
EXCESS (DEFICIENCY) OF REVENUES
.
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
r
OTHER FINANCING USES ($150.650)
($32700)
$117 949
r
r
r
r
9s
City of Cape Girardeau, Missouri
PARK IMPROVEMENTS FUND
SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGETAND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
BUDGET
REVENUES
Intergovernmental
$—
Interest
2,000
TOTAL REVENUES
—
EXPENDITURES
Capital outlay
290,000
Debt service
VARIANCE
Interest and fiscal charges
FAVORABLE
ACTUAL
(UNFAVORABLE)
EXCESS (DEFICIENCY) OF REVENUES
10,421
8,421
10,421
8,421
34,755
255,245
5,108
(5,108)
39,863
250,137
(29,442)
258,558
20,000
(45,000)
(45,235)
—
160,000
10,000
134,765
(35,000) _
$105,323
$223,558
City of Cape Girardeau, Missouri
PARK IMPROVEMENTS FUND
SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGETAND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
BUDGET
REVENUES
Intergovernmental
$—
Interest
2,000
TOTAL REVENUES
2,000
EXPENDITURES
Capital outlay
290,000
Debt service
Interest and fiscal charges
TOTAL EXPENDITURES
290,000
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(288,000)
OTHER FINANCING SOURCES (USES)
Operating transfers In
65,000
Operating transfers out
(45,235)
Bond proceeds
150,000
TOTAL OTHER FINANCING SOURCES
(USES)
169,765
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
($118,235)
96
p
r City of Cape Girardeau, Missouri
WATER IMPROVEMENT PROJECTS
°i SCHEDULE OF REVENUES AND EXPENDITURES —
BUDGET AND ACTUAL (BUDGET BASIS)
' FROM INCEPTION AND FOR THE FISCAL YEAR ENDED JUNE 30, 1997
PROJECT PRIOR CURRENT TOTAL
BUDGET YEARS YEAR TO DATE
REVENUES
Interest $700,000 $ — $ — $ —
r
TOTAL REVENUES 700,000
EXPENDITURES
r Capital outlay 26,500,000 — 1,968,956 1,968,956
Debt service
r
Interest and fiscal charges
502
502
r
TOTAL EXPENDITURES
26,500,000
1,969,458
1,969,458
e
�.
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
(25,800,000)
(1,969,458)
(1,969,458)
•'
OTHER FINANCING SOURCES (USES)
Operating transfers in
1,000,000
— —
—
n
Bond proceeds
24,800,000
r
TOTAL OTHER FINANCING SOURCES
(USES)
25,800,000
—
—
EXCESS (DEFICIENCY) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
$ — $
— {$1969458)
($19694581
r
r
r
97
THIS PAGE INTENTIONALLY LEFT BLANK.
98
L
11
0
L
1
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 Ig 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 and general fund transfers.
99
THIS PAGE INTENTIONALLY LEFC BLANK.
100
ASSETS
Cash and cash equhalents
Lf llty charges racaheble (net 0
allowance for doubtful receivables)
tramerac.Nabie
Special sasesamenta recallable
Eferes(racehabl6
Otherreceba Nee
Inventories
Restricted assets
Cash and cash equholaltt5
Investrnents
Prepaitl Items
Property, plant and equipment
Lend
Buildings
Imgovoments Other bulldings
Equlpmant
Construction In prog ass
Less accumulated depreciation
City of Cape Glenda.., Missouri
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
June 3Q 1007
(With Comparative Totak for June 30, 19%)
Total assets $53407329 $15578954 $2022910 $424850 $84006 $71,518049 $70596017
LIABILITIES AND FUND EQUITY
Accounts payable
$574,159
Solid
Gott
Softball
$18,892
Totals
Sower
Water
West.
Course
Complex
6-30-97
6-30-W
Selones,payroll taxes and benefits
$11,354
$56$569
$595,779
$67,414
$38,639
$1,296)55
$1)88,533
1,147,135
-
121 a54
-
-
1,268,969
1,268,9W
307,742
488,391
229,523
-
-
1,025,656
1,163108
9,435
275,738
-
-
-
3,173
291,575
116,134
-
-
-
-
116,134
142,784
387,175
5,447
5,901
-
-
398,523
404,958
5,613
197,440
34,067
2,637
503
240,260
50,048
-
108,729
-
2,494
-
111$23
109,211
23,022,171
2,091,849
15,986
-
-
25JW,006
26,626,260
510,500
49,1100
6,500
-
-
640,000
2,62,864
656,314
244,406
23,347
481
238
_924,786
1,046,765
2,254,573
4,044,569
1,106,957
73,026
39,360
31,518,505
35,519,095
135,869
-
112,240
-
-
248,109
248,109
8,156,627
198,266
726,231
3,549
-
9,084,673
9,084,673
21,488,373
10,953,403
83,122
362,925
4,857
32,892,680
30,120,736
1,146,913
656,386
1,404,518
430,231
53,844
3,693892
3,274,665
6,460,743
1,368,124
419,921
227,982
52,400,363
7,828,867
4,688,549
37,388,525
13,178,179
2,326,111
796,705
W,701
53,748,221
47,416,732
10,235,769
1,643794
1,410,159
444,881
14,075
13)48,677
12,339,810
27,152,756
11,534,385
915,953
351924
44,626
39,999,544
35,076,922
Total assets $53407329 $15578954 $2022910 $424850 $84006 $71,518049 $70596017
LIABILITIES AND FUND EQUITY
Accounts payable
$574,159
$319,452
$E9,842
$11,325
$18,892
$993,670
$1,062,192
Acoued 11abllitles
Selones,payroll taxes and benefits
53,605
1,352
45,354
18,372
19,090
1 W,773
133230
Nates Payable
-
-
34,646
-
-
34,646
40,413
let emst payable
432,570
232,429
11,078
-
-
676,077
374,789
Other lleblit.s
25,172
175,790
57
224
-
201243
158,807
Due to prow funds
529,246
-
-
-
-
523,246
1,65,191
Ou a to oNa govemments
-
114,296
-
-
-
114,296
133371
Advance hom other funds
337,500
-
95,000
390,000
190,000
1,867,500
1,677,500
Current poolm of at ng -term debt
820,435
375,000
169,800
-
-
1,365,235
1,156,125
Long-term debt net of current p=on
Revenue bonds Myable
29,939,205
11,091,405
-
-
-
41,03,610
40,769,810
Leasehold revenue bonds payable
1,445,181
-
141,926
-
-
1,587,107
2,177,075
Cedifirates of pertic'petion
1,710,000
835,000
495,000
-
-
3,04,000
3280,000
Estimated landfill dos ure and past -closure
care cost liability
-
822,960
8221960
815,258
Total liabilities
35,867,073
13,144,724
2,740,663
419,921
227,982
52,400,363
53,428,760
Fund aquiry
ContnbWW capital
16,739,900
1,938,546
288,585
645
3,126
18,970,802
17,394,945
Retained earnings
Reserved for debt a"ce
301000
-
-
-
-
30,000
28,333
Unreserved
770,356
495,684
(1,006,338)
4,264
147,102
116,884
(256,021)
Total fund equity
17,540,256
2,434,230
,17,753)
4,9914(
3,976)
19,117,686
17,167,257
Total llabllitles and [.ad equity
$53407329
$15578954
$2022_`10
$424850
$84006
$7 18049_
$70596017
1
()1
City of Cape Girardeau, Missouri
ENTERPRISE FINDS
COMDININS STATEMENT OF REVENUES, EXPENSES AND
P GES IN RETAINED EARNINGS
FOR THE FISCALYEAR ENDED JUNE W. 1997
102
SOLID
GOLF
SOFTBALL
TOTALS
SEWER
WATER
WASTE
COURSE
COMPLEX
1996-199]
OPERATING REVENUES
Residerral charges
$1,438,806
$2,319,299
$1,502,325
E-
E-
$5,260,430
Commercial charges
914,335
$1,525,443
17,411
-
-
2457,189
Transfer sta5on charges
-
-
675,636
-
-
6]5,636
Equipment sales
-
-
-
7,971
-
1,971
Concession revenues
-
-
-
74,058
13,311
87,369
Gov course fees
-
-
-
399,751
-
399,751
Softball complex fees
-
-
-
-
45,131
45,131
Oh.,feesendchsegos
37,7U
157.882
33,818
-
-
229,462
Om.'eu... lensous
32,217
9,319
(2032)
1,666
6
41,176
TOTAL OPERATING REVENUES
2,423,120
4,011,90.1
2,22],158
483,446
58,448
9,204,115
OPERATING EXPENSES
Personnel services
]51,2]8
78,351
816,646
212,297
158,255
2,016,827
Metenalsendsupplie.
88,099
67,412
56,266
49,440
26,025
287,242
C.Mactua1 savlces
224,923
2,418,593
786,562
38,741
20482
3,489,301
Genas) Mwating egianses
28,]3]
145,456
4,107
43,515
12,927
2]0,]42
Speclal p jor,ts mxpense
32,152
-
85,]]2
4,945
3,961
126,850
Intamel service expenses
65,072
28,615
160,742
52,283
7,325
314,037
De'.6.6. expense
795,561
391,307
221,]26
57,326
7,000
1,472,921
TOTAL OPERATING EXPENSES
11985,822
3,129,]33
2,167,821
458,549
235,995
],9]/,920
OPERATING INCOME (LOSS)
437,298
882,210
59,337
24,897
(1A,547)
1,226,195
NDN -OPERATING REVENUE (EXPENSES)
Imerestincome
1,499,2]7
166,254
53,542
2,298
99
1,]21,4]0
State grams
083)
-
-
-
-
(I M)
Federal grants
-
-
12,358
-
-
12,358
Sole of &ad asset.
-
-
1,366
2,660
-
4,026
Compensalon for damages
-
1,406
3,043
-
-
4,449
Gam on sale of fx.d assets
-
-
-
-
-
0
Issiance cOstemo-➢'zatlOn
(66,882)
(3,239)
(/,121)
-
-
(104,242)
Int. rest and hand Ong costs
(1,]90,686)
(765,662)
(99,534)
(21,028)
(10,697)
12,687,6011
TOTAL NON-OPERATING REVENUE
(EXPENSES)
(35,414)
(628,241)
(95346)
(16,070)
(10,598)
(1,049,129)
INCOME (LOSS) BEFORE OPERATING
TRANSFERS
78,824
253,969
22,931
8,827
(188,145)
176,466
0".fi 9t'ansie's in
10,000
207,107
217,100
NET INCOME COSS)
78,824
253,969
22,991
18,827
18,955
393,566
RETAINED EARNINGS (DEFICIT),
JULY 1
]21,532
241,715
(1,010,329)
(14,543)
(16.057)
(227,682)
PRIOR PERIOD ADJUSTMENT
(19,700)
(19,000).
RETAINED EARNINGS (DEFICIT),
.L)NE 30
$800_`56
$495669
($1006338)
$4284
1$147171104
$146884
102
103
city or Cape Girardeau. Mlaaowl
�.
ENTERPRISE
FUNDS
COMBINING STATEMENT OF CASH
FLOWS
r
FOR PIE
FISCAL YEAR
FROM JUNE
X. 1997
SOLO
GOLF
SOFT6AL1
TOTALS
r
SEWER
WATER
WASTE
COURSE
CDMaEX
1496-ISS,
CASH FLOWS FROM OPERATINGACTNTIES:
5
0Pmub., I— (i
5437290
5002210
659,337
524.097
rlil ,.6])
51226,195
Mlonmenta m mconclle opo&Ing income to
notmah Pra+Med by olaemtln9acdNba:
Norodom.
195,561
J91,390
221,]26
5],328
],CW
1,472.Wi
Cash operatln99®nia lecaided
(103)
-
12.358
-
-
12.175
Clange N amela and ImOYNea:
0ry .) bciavae In.. nmFabk
14268
(195,100)
636i7
8,022)
(5w)
(119,710)
r
Pnon.") aecmea9 In lmeRRy
-
(1,610)
-
(402)
-
R,012)
P..l doc. In lmala(d lmma
994]
0.141)
17.034
-
(147)
2,691
I..(docmee) Ineccounts {e,bW
(13,054)
R0,994)
(45,951)
(3.515)
14.%2
(50,522)
Inwsae(decreese) Maccrued liaNklea
(322919)
63,957
(5.120)
(1.902)
5,401
(3599n)
I.. (deems«) In landil Poeldoeunr oars Dose
7.702
7.102
NET CASH PROVIDED BY (USED 04 OPERATING
ACTIVITIES
321,510
1,118626
330,7M
74.W
150]90)1,692
d&5
r
L
CASH FLOWS FROM NONCAPITAL RNANCINGACTRIIIES:
0PemGn9 ba Mme in hwn odotlu M
'O'_WO
207`1W
217,103
P
NET CASH PROVIDED BY (USED Ip BY NOMCAPITAL
FINANCINGACIIVTTIES
-
-
-
10,000
207,100
217,100
Ma
p
CASH FLOWS FROM CAPTTAL AND BEEPED FINANCING
ACTNBIES:
r
Pnxoe6I. dewbPme
130,520
130.520
Princbal to on... onds
(55.000)
R55.OW)
_
_
_
P40.000)
PHrc(sl old on loam Purclaea bo Na
(453.542)
-
1130.503)
_
_
(504,125)
Pricaulpald on COP
(100,003)
-
(40.000)
_
_
(140,003)
Pnnclpel pe10 Pn SRF
(12.000)
-
-
-
-
(32,000)
y
Pdand Polon., loan 6 rales PeWNa an land!
-
(44,114)
(,167)
-
-
(4901)
bltNint Pard on Oona.. obll,tlone
(760,5]4)
(123.00])
(100,715)
Rt@O)
(10.007)
(1.616,021)
Preweda from nvq'a10®nd remnsd hom dl�ergorarnmeMs
T55.530
485.473
741,000
).
Pdrchaae or road aaeab
(4AW.591)
V07247)
cm.glo)
R2.477)
(1.065)
(5,684290)
Pmmade Iron COP i canoe
-
_
_
_
_
_
Iy
PmmOda". Bale Ol M beta
-
-
2,333
7,645
-
9.975
(' Pama4on tw«mega
1.406
3,013
4,469
4
NET CASH PROVIDED BY (USED Ip CAPITAL AND
RELATED FINANCING ACPNTIES
15$90651)
1662r489
9=
R5SN
17.7
(7,612,W)
r
CASH FLOWS FROM INVESTING ALPNPE6:
PPFLaaeof
".Nd. a to
Rom Bele orlmealmema
884,1P8
1,122,698
-
-
-
1.966.664
noo. o
onndrido rob
1659,OT2
9],8]8
MINN
r
MgHtl
aTnit
24,626
78.915
33,4.52
2298
99
139,393
onasseR
Interest masmaMmraa
10,696
1o.we
1
FEE CASH PROWDED B4 (USED IN) INVESTING
ACTIVmES
2350.562
1299,492
54]16
2298
99
3.714,757
r
INCREASE (DCCRFA^.E) IN CASH AND CASH EOUNALINPS
C2.910.571)
913.631
(110,553)
20,622
30,619
(1969 Ut2)
F
CASH AND CASH EOUNAlIITLS. JULY 1
25,944,006
1701 707
M2.318
46.592
28,414)0
r
CASN /WDCASHEWNALIXIS, JUNE 30
523,033$25
52675619
5511.765
y414
E36.639
526.426.761
103
City of Cape Girardeau. Missouri
SEWER FUND
SCHEDULE OF REVENUES AND EXPENSES -
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE W. 1997
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
OPERATING REVENUES
Residential chargee
$1,465,000
E1,d38,806
($26,194)
Commamialchargea
9 ,000
914,335
(45,665)
Otherfees.nd.hargee
35,000
3],]62
2,762
Olhermiscellaneeue
37,393
32217
(5,176)
TOTAL OPERATING HEVENUES
2,47,393
2,423,120
(/4,273)
OPERATING EXPENSES
Pernnnel senices
752,591
751,218
1,313
Materiels and eupplies
98,810
89,989
8,621
Conta.W.1 service.
221,743
224)84
(3041)
General operating expense.
35,386
2B,]3]
6,649
Special pmjecta a ,an.
35,700
3,401
32,299
Intanei service vMenso
126,545
65072
61,473
Caphal outlay
14267,015
3,641,763
10,625,252
TOTAL OPERATING EXPENSES
15$3],]90
4,805024
10,]32,]66
OPERATING INCOME (LOSS)
(13,040,39])
(2.381,904)
10058,493
NON-OPERATING REVENUE (EXPENSES)
Interest income
8]8,]50
1,499,2]1
620,527
Sate Drams
125,000
(I W)
(125,183)
Federal green.
200,000
255,536
555W
Impact fees
200,000
138,520
(61,480)
Principal payments
(13.542)
(73.542)
-
Interest and handling cote
@85,102)
V31$90)
(346,488)
TOTAL NON-OPERATING REVENUE (EXPENSES)
288,106
431,018
142,912
NET INCOME (LOSS)
_AQ ,]52?291j
($1 950886)
$10,801,405
a
r
City of Cape Girardeau.
Mls sourl
WATER FUND
SCHEDULE OF REVENUES AND
EXPENSES—
BUDGET AND ACTUAL (BUDGET
BASIS)
r
FOR THE FISCAL YEAR ENDED JUNE W. 1997
r
VARIANCE
r
FAVORABLE
BUDGET
ACTUAL
NNFAVORABLE)
We
OPERATING REVENUES
R.adentiel civr9es
$2,410,000
$2,319,299
($90,701)
(.
Commercial charges
1,600,000
1,525,443
(74,5571
Other lees a ed charges
15],500
15],882
382
`
Other miscellaneous
5,000
9,319
4,319
TOTAL OPERATING REVENUES
4,172,500
4,011,943
(160,557)
r
OPERATING EXPENSES
P..nne[.eM...
80,660
78,351
2,309
Meterialsend supplies
74538
65,]0]
8,831
Contractual services
2,69.995
2,414,6]2
276,323
r
General operating..pan...
15.642
145,456
5,186
Internal service expense
20335
28,615
(8,280)
r
Capital aullay
1,070,638
i'aw,091
64,547
r
TOTAL OPERATING EXPENSES
4,87,808
3,]38,892
348,916
OPERATING INCOME (LOSS)
84,692
2]3,051
188,359
r
NON—OPERATING REVENUE (EXPENSES)
Interest income
97500
166,254
68.754
Federal grants
—
447,830
447,830
}`
Compansatlon l0 tlamages
—
1,406
1,406
Principal payments
(299,125)
(299,114)
11
Interest and lrandling casts
(723,075)
(728,028)
(4,953)
TOTAL NON—OPERATING REVENUE (EXPENSES) (924,700)
41( 1)552)
513048
a'
NET INCOME (LOSS)
($840,008)
($138601)
$]Ot 40_7
r
r
r
r
t
r
105
City of Cape Girardeau, Missouri
SOLID WASTE FUND
SCHEDULE OF REVENUES AND EXPENSES -
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
106
VARIANCE
FAVORABLE
BUDGET
ACTUAL
NNFAVOHABLE)
OPERATING REVENUES
Residential chargee
$1,561,500
$1502.325
(359,175)
Commercial chargee
30,00
17,411
(12,589)
Transfer station charges
82$000
675,636
(152,364)
Other fees and charges
35,000
33,818
(1,182)
Oerer miscellaneous
2,500
(2,032)
(4,532)
TOTAL OPERATING REVENUES
2,457,000
2,22],158
(229,842)
OPERATING EXPENSES
Personnel services
881,247
89,129
52,118
Materieleand aupp(ias
61,310
59256
2,052
Contractual services
908,319
]92)86
115,533
General cperating expenses
59818
41,607
18211
Special projects expense
50,000
50$46
(546)
Internal serNce expense
20.335
160,742
43,593
Capdel outlay
485,400
164,188
321,212
TOTAL OPERATING EXPENSES
2,650,423
2.INS ,256
552.173
OPERATING INCOME (LOSS)
(193,429)
128,902
322,331
NON-OPERATING REVENUE (EXPENSES)
Interest income
19500
53,542
34,042
Federal gn Ms
-
12,358
12,358
Compensation for damages
-
3,043
3,043
Sale of fixed assets
-
1,366
1,366
Principal payments
(1],600)
(170,583)
17
Interest and handling costs
(97,350)
(101,418)
(4,068)
TOTAL NON-OPERATING REVENUE (EXPENSES)
(248,450)
(201 r92)
46,758
NET INCOME (LOSS)
($441 8791
($12790)
$369,089
106
as
r
r
as
City of Cep. Glratleau, Missouri
GOLF COURSE FUND
SCHEDULE OF REVENUES ANDEXPENSES-
BUDGETAND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
107
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
OPERATING REVENUES
Equipmeot sales
$10000
$7,911
(2,029)
Can ... elan revenues
64,000
74.058
lop58
Goff course lee.
371,300
399,751
28,451
Olhernecellaneous
1,666
1,666
TOTAL OPERATING REVENUES
445,300
483,446
38,146
OPERATING EXPENSES
Pemonnel M..a
220,479
212,297
8,182
Materials and suppii..
48978
48,648
(310)
Contractual seMces
39,308
38,741
565
General operating expenses
53,155
43,985
9,170
Special projects expense
6,200
L945
1,255
Internal seMce expense
48,300
52283
(3,983)
Capttal outlay
60,850
52576
8,214
TOTAL OPERATING EXPENSES
476,568
453,475
23,093
OPERATING INCOME (LOSS)
(31,268)
29,971
61239
NON-OPERATING REVENUE (EXPENSES)
Interest income
-
2,98
2,238
Sale of `xsd assets
-
2,930
2,660
Interest and handling costs
(19,500)
(21,028)
(1,528)
TOTAL NON-OPERATING REVENUE (EXPENSES)
(19,5001
(16,070)
3,430
INCOME (LOSS) BEFORE OPERATING
TRANSFERS
(50,7(t6)
13,901
64,669
Op.otfl, han.fera in
S ,Ow
10.000
(40,000)
NET INCOME (LOSS)
I$]68)
E23901
$24,669
107
City of Cape Girardeau, Missouri
SOFTBALL COMPLEX FUND
SCHEDULE OF REVENUES AND EXPENSES—
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE W. 1997
108
VARIANCE
FAVORABLE
BUDGET
ACTUAL
NNEAVORABLE)
OPERATING REVENUES
Equipment sales
$1p00
$ —
(b1,000)
Concession revenues
40,000
13,311
(26,689)
Softball compiexfass
82,000
45,131
(36,869)
Other miscellaneous
6
6
TOTAL OPERATING ULVENUES
123,000
5$448
(64,552)
OPERATING EXPENSES
PensonneleeMcee
166,011
158,255
7)56
MsteriaisanE supplies
22,192
24$65
12,073)
Contractual eeMces
22,186
20,082
2,104
General operating expenses
31,386
12,927
18,459
Special projege.'ense
7,500
3,981
3,519
Internal SeMOa expanse
4,125
7,325
(3,200)
Captlal outlay
5,400
7,0X5
(1,665)
TOTAL OPERATING EXPENSES
258,800
233,900
24,900
OPERATING INCOME (LOSS)
(135,800)
(175,452)
(39,652)
NON—OPERATING REVENUE (EXPENSES)
Interest income
—
99
99
Int9'8st and handling costs
(8,750)
(10,697)
(1,907)
TOTAL NON—OPERATING REVENUE (EXPENSES)
(8,750)
(10,598)
(1,848)
INCOME (LOSS) BEFORE OPERATING
TRANSFERS
(144,550)
(18,050)
(41,500)
Opmgin, transfer: in
145,500
207,100
61,600
NET INCOME (LOSS)
$950
$21,0.90
$20: 00
108
0
0
II
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
equipment, computer supplies, and personnel services.
Fleet Management Fluid - to account for the maintenance of the municipal fleet. Financing
is provided from assessed charges from departments for fuel, parts, and labor.
Employees' Fringe Benefit Fuud - 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.
Equipment Replacement Fund - to account for purchase and leasing of vehicles and other
heavy construction equipment for governmental funds. Original purchase will normally be
funded by transfers from governmental funds. Purchased equipment is then leased to
governments] funds. Lease payments will provide a source of funds to replace equipment
when it has reached the end of its economic life.
109
THIS PAGE INTENTIONALLY LEFT BLANK.
110
r
r
City of Cape SMVi Missouri
INTNA
ERL SFAVICE F•11NOS
COMBINING BN_M10E SLEET
J4ne M. 199]
r (N11h lbmpaativa Totals tv June 30, 1498)
Employees'
r Data Fleet Fringe Risk EWipment Totals
Prowssing Managemant Benefit Management fleplamment 6-30-97 6-30-g6
111
ASSETS
r
Cash and cash equNalenti
$290,198
$103,468
$1,045,600
$1,120,960
$88,654
$2,648,880
$2,1]4,2]8
Investments
-
-
-
180,963
-
180,963
279,952
R.
Memstrecelvabla
-
-
-
1,538
-
1,538
3,600
O8larecalvables
176
10,061
1,144
2,802
-
14,183
105,321
r
Invecaudes
-
8,014
-
-
-
8,014
9,465
Resz lcled assets
Cash and cash equWeleMs
423,293
-
-
-
363,484
]86,T]1
-
t.
Prepeld items
19,853
1,602
-
65,166
12,493
89,114
72,291
r
733,520
123,145
1,046,744
1,361,429
464,631
3,729,469
2,644,907
-.
Preperly, plant and equipment
Land
-
37,500
-
-
-
37,500
37,500
r
BuAdings
-
421,178
-
-
-
421,178
416,109
Impovamann other buildings
-
104,903
-
-
-
104,903
27206
Equipmant
1,097,206
228,421
-
-
196,80]
1,522,434
1,255,590
Constuction In WaWass
6,346
-
6,346
]1,69]
1,097,206
798,348
-
-
196,007
2,0921361
1,814,102
Less accumulated depeclation
730,767
35],3]9
44,367
1,132,513
935,151
r
366,439
440,969
152,440
959,848
878,951
Total aseeta
$1099959
$564.114
;1046744
$1361429
$61]0]1
X4,68931]
523858
r
L 9IBLRI6 ANO FLNO EQUITY
}
Accounts payable
$7,620
$69,508
$165,391
$228883
$923
$472,125
$565,448
Accrued llablllt.s
Saiarles,payroli taxes and benefits
1,839
24,840
-
-
-
26,679
28,504
Interest Payable
1,]24
14
-
-
t,A3
3,511
-
O or liabilities-
50
-
-
-
50
5,4%
Due M other g.narnoms
-
2,851
-
-
_
2851
-
r
Corent porb. of long -tam debt
55,000
-
-
-
55,000
110,000
-
Long -tam debt net of coram portion
Ca98cales of pa8dpitan
379,589
-
-
-
389,325
768,914
-
r
Total liabilities
445,T/2
97,263
165,391
228,603
447,021
1,384,130
599,450
Rabined earnings
Daeso4ad
654,187
466,051
881,353
1,132,]46
170,050
3,305,187
2924, 108
r
Totalfundequlty
654,187
4 .851
881,353
1,132746
170,050
3,305,187
2,924,408
Total l labllitles antl fund equity
_ $1 ,959
$564114
slpzi6�
$1361429
$61].0]1
$4689317
$3523858
r
111
Oily or Cam Girwoka , Mlaeoul
INTERNAL SE W CE FUNDS
CONFINING STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN RETAINED EARNINGS
FOR THE FISCAL YEAR ENDED L)NE (b, HAO
112
EMPLOYEES.
DATA
PROCESSING
FLEET
MANAGEMEN
FRINGE
BENEFIT
RISK
MAu,AQFF-M-FNT
EQUIPMENT
RFRACEM
TOTALS
196\3-11Mh
OPERATING REVENUES
IrRar0epaRmellfel seMces
526].061
S]1KI.]20
51264286
Vf 9jm
552,399
52,756,569
Othermlacel6neou6
9.30
m
225
-
-
X551
TOTAL OPERATING REVENUES
276361
]93,]J6
15`1
3]910
52399
2T�120 �.
OPERAPNG EXPENSES
PenBnnel aerN®6
59,50
379,919
1",N1
-
-
586,350
N9tala1 N6U[p1109
8.356
2W6
-
-
-
246.560
COMecCal6pMo..
G9.565
1W.3m
1.022,516
256,Bm
-
1,J82289
General opemtlng Ntlllensa9
8W
1,739
-
4.890
-
],4]5
Imemal sero,a mr,aa
-
2,(N
-
-
-
2,041
Depac6tlon epense
118283
36.712
W.516
199511
TOTAL OPOUTNG EYJIEN S
255,650
71Xf, 6
11S35T
255]56
W516
252, x239
OPERATING INCOME (LOSS)
20,711
0,180)
95.15f
123]13
5,663
241,Wt
NON-OPERATING PEWNUES (EXPENSES)
VM1emrtlncoma
13,475
2,112
61,691
69.934
716
N$131
Companzatlon for mmege
2.790
-
-
-
3,X]0
6.560
Rfi U.Doe cB6temorttrntlon
455)
-
-
-
IrrereV eno nanoMB coo,
(1,616)
(IW)
TOTAL MON-OPERATING REVENUES
+
(EXPENSES)
14,201
2012
al, 9
69930
25W
1w,8m
INCOME 0 OSS) BEFORE OPERATING
TRANSFERS
SS,Im
(1,169)
157,0,a
10247
8,452
392,661
OPeatlng Pe eoi In
-
-
-
-
161598
161598
.,—do, o.Ireort oN-
-
i(]y5W)
-
-11]3
NET INCOME (LOSS)
341102
(1,168)
(16452)
10,247
170,00
36QTI9
RETAINED FAMNNGS pmcn],
JULY 1
6190115
469,019
697,605
09,499
2,924408
RETAIN ED EARNINGS (DEFICIT),
LNE 30
SfiH.16]
5466.8.51
5 i�
51,132.]W
5170,050
53,3 ,Uy,
112
113
QN of Co, OBsWr. Yheaun
NTE(iYL SHN[£ F.M
CDYOINNO STATE T GF CASH
FLOMS
FM THE FISCAL YEM
ENOEO.E 3 1.
EYPI➢Y S
DATA
FIEEf
FNNC£
IiGN
EWpLpNi
TOT.LLS
,
IIIYY`FSSNG
NANAEEIIENL
BENFFQ
tlA0At1E1ffdL
ffPLACEufNT
]>�L
y
CAWIFLQ FFDMOFFMTNO / TNDIEEI
Omnio mom.fmy
=.711
M.19%
S ,15T
$123,313
6,B4i
5211 PAf
AQu1Wnbb.6W W toll.—.
x
M®etl 0��1eE 0y WaatlnpaclM4es
Luryeryan
11B.2&i
31,)12
-
-
18,519
31�,5tt
r
cnN,wln.aaNa.na 1ma19ba
Ine�O�nm,ttvKae
n]9)
(1 AM
]B.6%
,3,39
-
(k..) ci
(Irvw) Waw
1.451
_
_
_
$".1
On io ldN
,l&5
.
MB
s,BQ
-
W..
31.
-n -F. )MFRelalmna
in mponeY
D21W
4.316
N2.]ssl
112.9
ezi
Isw�z31
1-n—(d-.—)hdo—e
k�a®rydn®1 b•�enmum�
R.,99�
306
R9,17
�
REF CASA PFMC D NY R D M OPERATING
AGFINnES
,9,W3
11..
1.,e7e
on
51,322
M1,175
CASH FLONS FRO Y NONCAPDAL FINANDING ACTIVITIES:
L�iueWq Wnhnau[motlw mnd
-
-
I173POO
-
1�t5yJ
11
NET CASH PROVIDED BY (USED IM NO NCM RAL
FNNICNG ACTMTES
-
-
(I]3,5'JOI
-
181 `SB3
R1tpo�
CASA FLOWS FIOY CIATAL AND REATE)FN0,i
<
XTHVURE
R YeW pale on ana-w mon a mm p.yae4 on k no
-
F'On
mNYNpWw WNeanaoalw9ple
(Wq
-
-
119
3z
Poi .11 uaN.
(Neel)
(x.171)
-
-
R13.Wn
8 4463
Pvs.M WnGO malate
1Z2,Z]!
Ai1.5M
9Sl,N7
Pi�aW M1pm ®N Of non m
15,01,
15,011
nlbn Wdanepm
COnpea
y><A]
-
-
-
�_)]0
050]
Y
NET CASN FOND® BY IM CAPITAL _ AND
(E]ATEJ FNMCNO ILT]VffTNRE4
��e
�.ee61
-
-
206b02
S�B26
V
C.WI FILMS FROM INVESTING ACTlVi
Poninn ren4
Oonn..
`
PmmeW ham of aFrenb
I otosrrs
12,,.l
OOYtin.N
1�,1)5
_
�i12
]le
137812
NET WIF! BONDED BY (I D IN) I1i
`
ACTWRE9
13175
2,112
91 W1
'M,ws
]to
210182
INCREASE (DEMI E) IN CASH ANO CASH EOl1VA(ENTS
513,81t
8,853
19.281
2703&3
452,139
1,2912]8
CASH.WDCAHEDUNALEITSI. I Yl
160,&53
88515
1,@7339
&53,577
2.1]42]8
CABH AND CASIILIXINALBITS..AINE 30
$]1�101
S103`189
3f 065 ®3
511830
31139
53,155,x]
113
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, 1"7
114
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
OPERATING REVENUES
Interdepamnent.l seM...
$90,000
$267,061
($22,939)
Other miscellaneou.
9,300
$9,300
TOTAL OPERATING REVENUES
29,000
276,361
(13,639)
OPERATING EXPENSES
Personnel eeM...
66,497
59,600
6,697
Meten.leand .applies
6,515
8,]99
(2,284)
C.d.cWal s.Mce.
72,770
6$565
4,205
General opereiing expanses
2,424
5,341
(2,917)
Caphal outlay
255,000
31540
223,160
TOTAL OPERATING EXPENSES
405,206
174,145
231,061
OPERATING INCOME (LOSS)
(115,206)
102,216
217,422
NON-OPERATING REVENUE (EXPENSES)
Interest Income
-
13,475
13,475
Componsetion for damages
-
2,790
2,790
Bond proceed.
-
435,000
435,000
I..uance code
(12,723)
(12,723)
TOTAL NON-OPERATING REVENUE (EXPENSES)
438,542
438,542
NET INCOME (LOSS)
($115,206)
$540758
$655,964
114
r
City o! Cape Girardeau,
Mlssourl
FLEET MANAGEMENT
FUND
r
SCHEDULE OF REVENUES AND EXPENSES—
BUDGET AND ACTUAL (BUDGET
BASIS)
r
FOR THE FISCAL YEAR ENDED JUNE W, 1997
`
VARIANCE
r
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
wa
OPERATING REVENUES
InterdepeNnental services
$693,00
$793,720
($99,280)
v
Oih.rmisc.11en..u.
26
26
TOTAL OPERATING REVENUES
893,000
793,746
(99,254)
�.
OPERATING EXPENSES
Pernnnel samces
49,360
379,919
47,461
V
Met.deleead supplies
271,335
239,354
31,981
Co,.redual service.
10.5,133
141,712
3,421
F
G.a.ralopere0n9..; ns..
2,904
1,739
1,165
Internal semceezpense
3,545
2,044
1,501
y�
Capital outlay
42,500
32,22
10,478
TOTAL OPERATING EXPENSES
892,797
793,790
96,007
P
OPERATING INCOME (LOSS)
203
(3,044)
(3247)
r
NON—OPERATING REVENUE (EXPENSES)
Intend Income
—
2,112
2,112
Phncipal payment.
—
(407)
(407)
r
Interen and handling cans
(f OD)
(100)
F,
TOTAL NON—OPERATING REVENUE (EXPENSES) —
1,W5
1,035
r
NET INCOME (LOSS)
$203
($1,439)-
616421
F
r
v
r
V
City of Cope Girerdoau, Missouri
EMPLOYEES' FRINGE BENEFIT FUND
SCHEDULE OF REVENUES AND EXPENSES—
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE 30, 1997
TIG
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
OPERATING REVENUES
Interdepedment.l services
$964913
$1264,286
$99,373
Other miscellaneous
225
29
TOTAL OPERATING REVENUES
964,913
1,264,511
299,598
OPERATING EXPENSES
Personn.l service.
102,384
146,841
(44,457)
C.M.rW.1 service.
781,163
1,022,516
(241353)
TOTAL OPERATING EXPENSES
883,547
1,169,357
(285810)
OPERATING INCOME (LOSS)
81.366
95,154
13,788
NON—OPERATING REVENUE (EXPENSES)
Irto.etIncome
40,000
61,894
21494
TOTAL NON—OPERATING REVENUE (EXPENSES)
40,000
61,894
21,894
INCOME (LOSS) BEFORE OPERATING
TRANSFERS
121,366
15],048
35,682
Operating tmusfers out
(173,500)
(173,500)
NET INCOME (LOSS)
1521341
($16452)
$35682
TIG
City of Cape Girardeau, Missouri
RISK MANAGEMENT FUND
SCHEDULE OF REVENUES AND EXPENSES—
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE W. 1997
117
VARIANCE
FAVORA13LE
BUDGET
ACTUAL
(UNFAVORABLE)
OPERATING REVENUES
Interdepartmental services
$389,435
$3)9,103
($10,332)
TOTAL OPERATING REVENUES
389,435
3]9,103
(10,332)
OPERATING EXPENSES
Carmac[ual 54vle8a
1,115,009
250,900
664,100
Genemi opemtin9 expenses
4,690
(4,890)
TOTAL OPERATING EXPENSES
1,115,000
255,790
859,210
OPERATING INCOME (LOSS)
(725,565)
123,313
W,878
NON—OPERATING REVENUE (EXPENSES)
IntQest Income
25.000
69,934
44,934
TOTAL NON—OPERATING REVENUE (EXPENSES)
25,000
69,934
44,934
NET INCOME (LOSS)
1$]0056)
$193247
$893.812
117
City of Cape Glradoau, Missouri
EQUIPMENT REPLACEMENT FUND
SCHEDULE OF REVENUES AND EXPENSES—
BUDGET AND ACTUAL (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED JUNE W. 1997
118
VARIANCE
FAVORABLE
BUDGET
ACTUAL
(UNFAVORABLE)
OPERATING REVENUES
IntardeperMental vaMcea
$129,323
$521399
($76,924)
TOTAL OPERATING REVENUES
129,323
52,399
(76924)
OPERATING E ENSES
(Aplml outlay
810,350
213,991
596,353
TOTAL OPERATING EXPENSES
810,350
213,997
596353
OPERATING INCOME (LOSS)
(681 p21)
(161$98)
519,429
NON—OPERATING REVENUE (EXPENSES)
Interest income
—
116
116
Compensation fo, damages
—
3)10
3,T10
Bond oroceehis
692,500
445,000
(241,500)
intercA and handling costs
(118,500)
—
118,500
Issuance casts
(10,350)
(13,430)
(3,080)
TOTAL NON—OPERATING REVENUE (EXPENSES)
563,650
436,056
(121,594)
INCOME (LOSS) BEFORE OPERATING
TRANSFERS
(111,311)
274,458
391,835
Operating transfers In
111,311
161,598
44221
NET INCOME (LOSS)
$ —
$436056
X436056
118
H
8
AGENCY FUNDS
Library Fund - to account for a separate tax levy of $0.17 per $100 assessed valuation for
the Cape Girardeau Public Library.
Arena Improvement Fund - to account for assets held for the A.C. Brase Foundation for
improvements to the A.C. Brase 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.
119
THIS PAGE INTENTIONALLY LEFC BLANK.
120
t
p
City of Cape Girardeau, Missouri
AGENCYFUNDS
V
COMBINING BALANCE SHEET
June 30, 1997
e
(With Compara0ve Totals for June 30,
1996)
r
Park
Arena Deferred Development
Total.
Libra ry
Improvement Compensation
Foundation
8-30-91 6-30-96
We
ASSETS
Cash and cash squivsleMs
$395,339
$20,495 $ -
$59.947
$475.781
$49,905
f'
Inve.tm.rde
-
- 2.105,065
-
2,105,065
1,598,987
R.eebBNee, net of allowance. for
doubdul receivable.
Reel estate tax
15,473
- -
-
15,03
16,256
Panoral propedytu
3,962
_ _
_
3,962
2,825
Other reselvables
102
- -
102
7,804
Total ..at.
$414,876
$20.495 $2,105065
$59,_47
$2,800.383
$2.124777
ba
LIABILITIES
Account. payable
$9,446
$- $-
$-
$9,446
$20.251
Accrued liabilities
r
Salaries, payroll taxes and benefM
9,323
- -
-
9,323
106p
Cther liabilities
39,107
20,495 -
59,947
476,549
419,919
`
Advance from other funds
-
- -
-
_
75000
Deferred cotopemeti.n due employees
-
2,105,065
2,106,065
1,596987
Total liabilities
$414.8]6
$2,495 $2,105,065
$59x`7
$2.600383
$2,12471]
121
cOhwl..oun
cowxlxlxc
erAENExOFx..1x
AssEls N!O uAWurIF9
ALL AGENCFUNS
Eox r11E ElecLL
YEAR ENDED .uxE R Iw]
PUM
Maw
MeneE
WMtpmml
LIE�IeI _
FounaYlm
Toleb
ASSES
Belacm w JWv 1 19a8
CM enG mllePlNelentl
RIPDX+O
iR5?T1
i-
07Te.
Fp.BM
D«Mabb., n« a..m.mae. re
ambwll.ceXebb.
PemmWPprlYe«
2R5
2,@3
Opd receXebba
SBM
yma
Tagil aw. .w Jul, 1, 1880
Hn",O
m"
tl$m,.7
07]
kl
AddMo t
CW mG ®ha4Xebntl
iB29,d52
iY2]80
i-
iBB.Of1
1751 .Bd1
Iln
-
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bl- w1 aa00-- la
awbwJmc.X.bb.
d-lD
ROdP—nWV
1]8.850
1.1.1'
FbbcnelaW«lr lea
+el."I
-
-
-
lel.nd
Otlw l.c.X.bb.
III
-
111
TWal eaaMon.
ll 711 I
i1�A
�1cfioqui
CM gine wn.aNelenm
s82].rif
Q]1]5
i-
ilze?n
W,115
hcehabb. nel aaldancee Ev
Bra-...
0.owlaw,.+eIJ13
Otl«I«eNebb.
�0V
-
SBD
Tule. ae 1—
512
W7,175S-
il�_]P
SI_A.P.,
a W acm w Jule YI 199]
«a tmhaplXebntl
E]95?]9
tl],aBS
i-
458011
Imeamenb
-
-
2.I M.mS
-
2,Im,NS
PsceMbM, nN aelcnencw Ib
embwlmwNebb.
W
13
15P73
P--.
Penmw VWdIYW
]P82
OBw lmehabb.
182
102
TWw mm tlJune]O, IBB]
vp.�.
IDORLD E
99vicee w JWv 1 1890
Acc.,.,Y bb
im.251
s-
S-
S-
WR51
Accmee lobi...
Sehlb. pyrol bme ena banafi6
IO6ZJ
-
100A
pnd WC1116e
207?
250]2
-
0726.
110,810
Aawnce M1om do«Mae
npm
-
-
]spm
oel.lma mmp«w0m e.e.mpms�e
Tc loblRb. w July 1, 1 0Q0
.171175
.1
Sl,.,ll7
.7]
t11'
AGGWons
Au—. pYeble
f2N 5G1
.1,112
i-
..NB
5201,.18
Acmu.a I.N.e
a WaY. 11.1.. vlao«em.
ZNO71
-
-
-
R]C S71
WI«Ibbll..
4.1?01
.0p7
-
nB]B
6.1,73
.-L
A. -
,.dmmpenxtlm eu..mploleea
.,.d
.,07.
,078
Tael.aJ....f�_582
X038
X078
Ddol®e_
A—IxMrmw
SRS?IB
f9,112
s-
fA2�
Rtlz.rze
Pccrv.albbu..
sex,.., plp.l b«. end Eenaflb
2]50]1
-
.,.71
..yabBb.
112,521
JU.
-
m?l5
a]a 811
AJ-- F.. dhel Ma.
]5pW
-
-
-
]spm
oeb,me mmpn.mm aea emp.yees
TWelaele+lme
f91�01
5 91
E-SI�5B1
51'W`
Beonce. Y Junem 89]
A-.nb yyebb
5./18
S-
i-
E-
ieP19
M—ee Wbll.e
.wane., yy,Wl le a6 na b« yu,
B..
011«Ibbll.e
3m, 1.7
A.
-
5.817
08.518
Aaenu ham Mer Mae
-
-
-
Cebwammpenwuomd,eemployeee
21y`m5
21y`m5
TWIIIebllbe w.Lw 10,1887
E11�8]eExam
X65
.7
{2Am`
iI
H
GENERAL MED ASSETS ACCOUNT GROUP
123
THIS PAGE INTENTIONALLY LEFT BLANK.
124
City of Cape Girardeau, Missouri
SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE
June 30,1997
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
125
■
$2,073,938
8,867,406
4,527,283
1,555,874
5,208
$17 029 709
$4,008,487
10,588,676
2,432,546
_$17 029.709
126
City of Cape Girardeau, Missouri
SCHEDULE OF GENERAL FIXED ASSETS -
BY FUNCTION AND ACTIVITY
June 30, 1997
Improvements
Machinery
Construction
Other Than
and
in
Function and Activity
Land
Buildings
Buildings
Equipment
Progress
Total
ADMINISTRATIVE SERVICES
Human resources
$-
$-
$-
$1,169
$-
$1,169
City manager
200,000
111,618
-
2,333
-
313,951
City attorney
-
-
-
1,180
-
1,180
Interdepartmental
67,340
-
32,190
23,268
-
122,798
Finance
-
-
-
1,135
-
1,135
CVB
-
-
-
6,253
-
6,253
Airport
354,649
181,044
3,856.430
232,048
4,624,171
_
TOTAL ADMINISTRATIVE SERVICES
621,989
292,662
3,888,620
267,386
5,070657
DEVELOPMENT SERVICES
Planning services
-
-
-
5,232
-
5,232
Inspection eeMcea
-
-
-
-
-
0
Community information program
-
-
-
1,307
-
1,307
Engineering services
44,337
44,337
TOTAL DEVELOPMENT SERVICES
-
-
50.876
50,876
PARKS AND RECREATION
Park maintenance
855,238
192,704
-
105,786
-
1,153,]28
Arms maintenance
-
-
-
22.620
-
22,620
Recreation
-
-
-
364
-
364
Cemetery
4,120
4,544
-
28,567
-
37,231
Contral pool
-
625,057
2,226
4,049
-
631,332
Cepsha pool
-
-
6,178
-
-
6,178
Osage Community Centre
-
2,744,610
-
45,036
-
2,789,646
Softball Complex
2,476,058
6,767
2,482,825
TOTAL PARKS AND RECREATION
859,358
6,042,973
8,404
213,189
7,123,924
PUBLIC SAFETY
Municipal court
-
-
-
441
-
441
Health
-
-
-
15,286
-
15,286
_
Police
17,500
237,500
1,686
8],1]4
-
343,860
Fire
210,950
641,410
8,237
550,989
1,611,586
TOTAL PUBLIC SAFETY
228,450
1,0]8,910
9,923
6531890
1,9]1,1]3
PUBLIC WORKS
Street
-
-
-
278,964
-
278,964
Stormwater
911569
91,569
TOTAL PUBLIC WORKS
370,533
370,533
CAPITAL OUTLAY
�.
General capital Improvements
10,000
1,413,972
551,235
-
5,208
1,980,415
Park Improvements
354,141
3,889
69,101
462,131
TOTAL CAPITAL OUTLAY
364,141
1,452,861
620,336
5,208
2.442,546
TOTAL GENERAL FIXED ASSETS
$2,0]3_`38
$8867406
$4527283
$15558]4
$5,208
$1]029]09
126
6
r
City of Capp arardoau, Mlss6uU
p SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS -
DY FUNCTION AND ACTIVITY
FOR THE FISCAL YEAR ENDED JUNE 30. 1 W7
121
i
Genorel Fixed
Gonerel Reed
r
Assets
Delxeclodm
Assets
Function andAdiviK
.lune 30. 1996
Ad36ona
Doductims
Mesa
.lune 36 199]
ADMINISTRATIVE SERVICES
Furman rosou2e5
&-
31,365
3-
$21b
$1,169
Ctymsne8er
324,505
-
-
10,554
313,951
CkY av rney
-
1,452
--
272
1,186
Imard.,ourentef
135,119
32,T35
-
5,056
122,798
Flounce
1,426
-
-
291
1.19'
CVS
4,265
2,983
-
995
6,253
k,W
2,206,543
2,589.77
172643
4.624,171
TOTAL ADMINISTRATIVE SEflVICES
2,631,858
2,628,232
t89,4?3
5,070,657
V
DEVE! OPMENT SERVICES
Plan hg servlcus
J,t27
-
-
1,895
5,232
Inspeeean services
917
-
-
917
0
Yla
Communty Information so- lca
-
1,400
-
93
1,307
Enginearirg ¢erccea
53,129
1480
10.272
44,337
TOTAL DEVELOPMENT SERVICES
b1,173
2,880
131T7
50.876
r
PARKS AND RECREATION
Park malmenance
1,204.493
8,930
2,782
%,913
1,153,728
Arena maiMenanco
1,208
23,656
-
2238
22,620
Recmaton
602
-
-
238
364
•
Cemetery
41,010
4,939
1,606
6,912
37,231
Carmal pool
857.714
2,313
-
28.695
631,332.
Cabana pool
-
6,336
-
158
6,176
`
Oseua Comn,Unky Carme
-
2666,533
-
16,87
2,789,646
Solba0 Complex
o95
-
070
2,482825
`._
__L496
__14
TOTAL PARKS AND RECREATION
1905027
5_349,596
4,588
Mall
7,123,924
PUBLOSAFETY
Yar
Municoi0coud
576
-
135
441
Hearp
15,417
4,345
-
4,446
15,286
I'
Pdim
425,743
7,436
-
89,319
30.1,8&5
Fire1,735_0]5
.,,,,, 6,087
-
129,576
1,611588
V
TOTAL PUBLIC SAFETY
2,176,611
17036
223,476
__L971 173_
PUBLIC WOWS
w
shat
294.608
60,067
-
75,731
278,964
Sarmwata
78,302
43,530
30,263
`
TOTAL PUBLIC WOWS
372,910
103,617
-
105,994
_ 370.533
CAPITAL OUTLAY
Cenem, copw lmRpwmems
6553,924
3,349795
7,842,125
81,179
1,996,415
v
Park Improaements
470,817
_ -
_- -
8,686462,131,,,
All
TOTAL CAPITAL OUTIAY
7,024,741
3349795
7842,125
89,865
2442546
TOTAL GENERAL FIXED ASSES14172520„
11_45195873
U6ti713]48056
317IY29709
y
121
i
THIS PAGE INTENTIONALLY LEFT BLANK.
128
C
Ij
E
GENERAL LONG-TERM DEBT ACCOUNT GROUP
E
11
Li
A
129
THIS PAGE INTENTIONALLY LEFC BLANK.
130
City of Cape Girardeau. Missouri
SCHEDULE OF CHANGES Mt LONG—TERM DEBT
FOR THE FISCAL YEAR ENDED JUNE 30. 1997
Due to other governments- Stale energy loan $1,841
TOTAL GENERAL LONG—TERM DEBT $17,55770_2
0
131
r
General
General
Long—term
Debt
July t. 1996
GENERAL LONG—TERM DEBT
Additions
Leasehold revenue bonds payable
$10,214,870
Certificates of participation payabio
3,325,000
General obligation refunding bonds payable
3,390,000
Accrued benefits
545,991
Due to other governments- Stale energy loan $1,841
TOTAL GENERAL LONG—TERM DEBT $17,55770_2
0
131
r
General
Long—term
Debt
Additions
Retirements
June 30 1997
$—
$2,430,876
$7,783,994
2550,000
170,000
5,705,000
—
327,000
3,070,000
—
1028
544,063
—
30,172
51,669
$2550.000
$ 92, s29r6
$17,t54,726
City of Cape Girardeau, Missouri
STATEMENT OF GENERAL LONG—TERM DEBT
JUNE 30, 1997
AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE
PAYMENT OF GENERAL LONG—TERM DEBT
LEASEHOLD REVENUE BONDS
Amount available in debt service fund
Amount to be provided
CERTIFICATES OF PARTICIPATION
Amount available in debt service fund
Amount to be provided
GENERAL OBLIGATION REFUNDING BONDS
Amount available in debt service fund
Amount o be provided
ACCRUED BENEFITS
Amount available In debt service fund
Amount to be provided
DUE TO OTHER GOVERNMENTS—STATE ENERGY LOAN
Amount available in debt server, fund
Amount to be provided
TOTAL AMOUNT AVAILABLE AND TO BE PROVIDED
GENERAL LONG—TERM DEBT PAYABLE
Leasehold revenue bonds payable
Certificates of participation payable
General obligation refunding bands payable
Accrued benefits
Due to other govemments—State energy loan
TOTAL GENERAL LONG—TERM DEBT PAYABLE
13?
$1,843,362
5940,633
$7,783,994
813,276
4,891,724
5,705,000
864,397
2205,603
3,070,000
544,063
544,063
51,669
51,669
117,154 726
$7,783,994
5,705,000
3,070,000
544,063
51,669
$17,154 726
H
0
R
li
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.
133
i
THIS PAGE INTENTIONALLY LENT BLANK. I
134
1
J
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 2
Contingency
Service
Total
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
1,200801
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
2,736,573
13,792,946
1993-94
1,867,788 (3)
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 (4)
23,488,186
N 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
1996-97
2,056,865
1,315,096
1,889,093
6,826,153
2,701,336
1,633,830
3,001,162
19,423,535
(1) Includes general, special revenue, and debt service funds.
(2) Beginning with the 1986-87 fiscal yea the sanitation division became the solid waste fund in the enterprise fund.
(3) First year to report airport operations as a special revenue fund from previous classification as an enterprise fund.
(4) 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
c
Fiscal
Year
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
Licenses
and
Texas Permits
$7,779,480 $535,380
8,155,960 528,555
8,977,804 529,266
9,782,247 578,505
10,111,747 649,617
10,861889 692,933
11,594,887 741,703
12,379,085 1,059,118
14,247,577 892,038
16,753,018 884,687
City of Cape Girardeau, Missouri
General Governmental Revenues by Source (1)
Last Ten Fiscal Years
Fines
Charges
Inter-
Inter-
for
de panne ntel
gcve no me ntaI
Services
Se wide a(2)
$916,155
$344,242
$ -
942,439
395,404
-
1,022,901
392,708
-
1,041,474
389,136
150,380
1,047,869
425,402
196,777
1,181,328
498,841
321,811
1,709,722 (3)
557,611
(3) 461,434
1,569,996
613,537
433,821
2,284,988
653,930
472,959
3,062,564
540,375
459,548
Fines
and
Forfeltures
Miscellaneous
Interest
$310,617
$150,017
$405,631
359,979
113,631
607,861
393,207
153,398
661,203
497,428
123,246
717,629
530,768
101,095
654,111
568,864
95,152
556,385
577,296
244,699 (3)
765,179
501,565
172,677
828,686
553,214
422,656
699,485
556,759
225,309
804,597
(1) Includes general, special revenue, and di service funds.
(2) The Interdepartmental services 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.
(3) First year to re port airport operations as a special revenue fund from previous classification
as an ante rprise fund.
Special
Assessments
840
30,505
176,586
354,529
169,679
129,955
268,338
71,957
308,721
Table 2
Total
$10,441,522
11,104,669
12,160,992
13,456,631
14,071,915
14,946,882
16,782,486
17,826,823
20,298,804
23,595,578
1 1 1 1 I 1 I I I 1 1 1 1 I I 1 1 I I
w
Table2A
Cly of Cape Girardeau, Missouri
General Govern mental Tex Revenues by Source
Le.tTm Racal Year.
(1) Indudes $129,281 of protaeted restaurant tax that was rel.... d.
(2) Includes General Saes Tax of 1.00% effective .[nos Jams ary 1, 1972 Capita I...... menta Tex of.25%effective ante January 1, 1990 Increased to.50%affective
since January 1, 1997, and Transportation Sae.Tex of.50% effective since January 1, 1996.
Rel road
Real
Personal
and
Penalty -
Fiscal
Estate
Property
Spec. 9r91nesa
Utl ity
Franchise
Intangible
Saes
Cigarette
Delinquent
Delinquent
Restaurant
Hotel/Motel
Year
Tac
Tex
Tex
Tax
Tex
Tax
Tar (2)
Tex
Tax
Ta<
Tex
Tex
Tote)
1987-88
$702,997
$143,559
$12,489
$87,012
$1,841,046
$79,846
$4,192,724
$142,686
$23,458
$12,634
$337,607
$203,422
$7,779,480
1988-89
706868
141,992
11,081
88,116
1,973,839
30,578
4,474,412
132,029
27,049
11,592
336,728
219,676
8,151
1989-90
74&681
151,091
13,683
89,514
1,982,434
49,115
5,178,744
13$468
27,463
13,172
347,168
236271
8,977,804
1990-91
758,724
142,393
12,854
89,515
1,972,454
48,904
5,972.714
13$787
46,862
9,851
31
238,600
9,762,247
1991 -92
784,970
165,615
12725
93,185
2,072,360
47,772
6,114,747
13,876
34,687
1$950
373,492
24'368
10,111,747
1992-93
821,142
193,752
14,153
97,022
2,183,015
13,872
6,11
143,316
26,511
11,607
545,949 (1)
261,615
10,81
1993-94
883,248
223,000
13,693
85,180
2,273,386
30,280
7,136,046
132980
56,030
13,742
474,739
272,563
11,594,687
1994-95
926,456
247,457
13,474
90,368
2,153,064
20,455
7,874,994
141,142
40,894
13,064
551,716
3X'001
12379,085
1995-96
953,717
267,326
12901
86,208
2,367,160
14,436
9,477,295
147,655
38,618
16,434
1
3X'839
14,247,577
1996-97
1,C27,943
347,141
13,630
93,318
2,364,089
2,235
11,858,709
125,717
36,265
13,684
553,577
311,911
16,753,018
(1) Indudes $129,281 of protaeted restaurant tax that was rel.... d.
(2) Includes General Saes Tax of 1.00% effective .[nos Jams ary 1, 1972 Capita I...... menta Tex of.25%effective ante January 1, 1990 Increased to.50%affective
since January 1, 1997, and Transportation Sae.Tex of.50% effective since January 1, 1996.
(1) 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.
138
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 Fxpenddures
Expend'aures
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 (1) 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
1996-97
3,309,497 13,505,183
24.5
(1) 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.
138
Fiscal
Year
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
Total
Tax
Levy
$948,762
967,235
1,018,061
1,040,879
1,084,642
1,136,655
1,216,769
1,289,903
1,357,167
1,487,660
City of Cape Girardeau, Missouri
Property Tax Levies and Collections (1)
Last Ten Fiscal Years
Current
Percent of
Delinquent
Tax
Current Taxes
Tax
Collections
Collected
Collections
$933,568
98.4%
$23,458
938,978
97,1
27,049
989,286
97.2
27,463
990,631
95.2
46,862
1,063,768
98.1
34,687
1,117,914
98.4
26,511
1,191,429
97.9
56,030
1,264,281
98.0
40,894
1,327,252
97.8
38,618
1,468,201
98.7
36,265
(1) Includes general, health special revenue, and debt service funds.
Table 4
Ratio of
Total
Total Tax
Tax
Collections to
Collections
Total Tax Levy
$957,026
100.9%
966,027
99.9
1,016,749
99.9
1,037,493
99.7
1,098,455
101.3
1,144,425
100.7
1,247,459
102.5
1,305,175
101.2
1,365,870
100.6
1,504,466
101.1
Table 4
Ratio of
Outstanding
Delinquent Taxes
Delinquent
to Total
Taxes
Tax Levy
$37,768
4.0%
27,645
2.9
31,950
3.1
39,124
3.8
58,707
5.4
64,251
5.7
39,987
3.3
46,970
3.6
46,025
3.4
47,050
3.2
Table 5
City of Cape Girardeau. Missouri
Assessed and Estimated Actual Value of Property (1)
Last Ten Fiscal Years
(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
values personal property, 33 1f3%; commercial real estate, 32%; residential real estate, 19%; and
agricultural real estate. 12%. Currently all real estate within the M Is revalued by the County Assessor
every two years.
(2) The estimated actual value for railroad and utilities Is based upon state and local assessments of
32% for comm erclal real estate and 331/3%for personal property.
I I I I I I I I I I I I I I I I I I 1
Raliroad
Real Property
Personal
Property
and
Utilities
Total
Ratio of Total
Assessed Value
Fiscal
Assessed
Estimated
Assessed
Estimated
Assessed
Estimated
Assessed
Estimated
To Total Estimated
Year
Value
Actual Value
Value
Actual Value
Value
Actual Value (2)
Value
Actual Value
Actual Value
1967—ee
$165,169,530
$695,638,943
$29,846,401
$89,548,158
$20,611,933
$63,749,439
$215,627,864
$848,936,540
25.40 %
1988-89
168,896,360
712,464,089
30,598,682
91,805,227
20,331,289
62,861,839
219,826,331
867,131,155
25.35
1989-90
177,847,160
758,796,447
32,833,100
98,509,151
20,697,281
63,949,694
231,377,541
921255,292
25.12
1990-91
181,700,520
781218,704
34,178,924
102,547,027
20,683,803
63,644,663
236563,247
947,610,394
24.96
1991-92
184,638,910
800,147,228
40,378,970
121,149,025
21,491,906
66,308,774
246509,786
987,605,027
24.96
1992-93
188,596,010
817,839,873
42,075,080
126237,863
21,918,755
68,043,238
252589,845
1,012,120,974
24.96
1993-94
195,809,200
852,174,495
45,126,875
135,394,164
17,950,900
55,617,612
258,886,975
1,043,186271
24.82
1994-96
203,600,210
885,796,434
51,733,340
155,215,541
19,113,775
59,180,091
274,447,325
1,100,192,066
24.95
.. 1996-96
208,809,260
921,384,881
61,421,730
184,283,508
18,527,925
57,404,953
288,758,915
1,163,073,342
24.83
0 1996-97
215,300,380
948,013,759
69,259,255
207,706,571
18,986,655
58,877,451
303546,290
1,214,597,781
24.99
(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
values personal property, 33 1f3%; commercial real estate, 32%; residential real estate, 19%; and
agricultural real estate. 12%. Currently all real estate within the M Is revalued by the County Assessor
every two years.
(2) The estimated actual value for railroad and utilities Is based upon state and local assessments of
32% for comm erclal real estate and 331/3%for personal property.
I I I I I I I I I I I I I I I I I I 1
Table 6
City of Cape Girardeau, Missouri
Property Tax Rates
Direct & Overlapping Governments (1)
Last Ten Fiscal Years
School District 2.46 2.92 2.84 2.83 2.85 2.87 2.87 2.86 2.88 3.38
County Tax Rates
Road/Bridge
0.25
0.25
0.25
Fiscal Year Ending June 30
0.26
0.26
0.27
0.27
1988
1989
1990
1991
1992
1993
1994
1995
19%
1997
City Tax Rates:
0.08
0.08
Sheltered Workshop
0.07
0.07
0.07
0.07
0.07
0.07
0.07
City Revenue
$0.30
$0.30
$0.30
$0.30
$0.30
$0.31
$0.32
$0.32
$0.32
$0.33
Debt Service
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
Heaith
0.04
0.04
0.04
0.04
0.04
0.04
0.05
0.05
0.05
0.06
Library
0.14
0.14
0.14
0.14
0.14
0.15
0.16
0.16
0.16
0.17
Total City Tax Raze
0.58
0.58
0.58
0.58
0.58
0.60
0.63
0.63
0.63
0.66
School District 2.46 2.92 2.84 2.83 2.85 2.87 2.87 2.86 2.88 3.38
County Tax Rates
Road/Bridge
0.25
0.25
0.25
0.25
0.26
0.26
0.27
0.27
0.28
0.27
Mental Health
0.07
0.07
0.07
0.07
0.07
0.07
0.07
0.07
0.08
0.08
Sheltered Workshop
0.07
0.07
0.07
0.07
0.07
0.07
0.07
0.07
0.08
0.08
Senior Citizen
-
-
-
-
0.05
0.05
0.05
0.05
0.05
0.05
County Health
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
Total County Tax Rate
0.49
0.49
0.49
0.49
0.55
0.55
0.56
0.56
0.59
0.58
State 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Total Tax Ratio for all
Overlapping Governments $3.56 $4.02 _$3.94 _$3.93 $4.01 .05 $4.09 $4.08 .13 '465
(1) All tax rates are presented per $100 of assessed valuation.
142
City of Cape Girardeau, Missouri
Principal Taxpayers
June 30, 1997
Table 7
1996
Percentage of
Assessed
Total Assessed
__ Taxer
Type of Business
Valuation
Valuation
Dana Corporation
Auto part manufacturer
$12,297,300
4.05% `
Lone Star Industries, Inc.
Cement manufacturer
5,646,415
1.86
West Park Associates
Retail leasing
5,415,970
1.78
Drury Development
Hotel industry
4,734,790
1.56
Mid—America Hotels
Hotel industry
2,673,910
0.88
Health Services Corp. of America
Group medical supplies
purchasing firm
2,310,495
0.76
LC Realty Incorporated
Retail discount store—Lowes
2,115,100
0.70
Wal—Mart Stores, Inc.
Retail discount store
1,887,615
0.62
Cape Retirement Community, Inc.
Retirement homes
1,699,830
0.56
Drury Southwest
Retail leasing
1440150
0.47
$40,221,575
13,25%
142
Table 8
City of Cape Girardeau, Missouri
Computation of Legal Debt Margin
June 30, 1997
Assessed Value 1301546 290
Legal Debt Margin
Debt limitation -20 percent of total assessed value $60,709,258
Debt applicable to limitation:
Total bonded debt $3,070,000
Less: Debt service available for repayment of general
obligation bonds 859,680
Total debt applicable to limitation 2,210,320
Legal Debt Margin $58,498,938
143
City of Cape Girardeau, Missoun
Patio of Net General Ouigation Bonded Deft
To Assessed Value end Net General Obligation Bonded Debt Per Capim
Leat Ten Fiscal Year.
Table 9
Gross
Fiscal
Assessed
Bonded
Year
Population (1)
Value (2)
Debt 3
1987-88
34260
$215,627,864
$8240,000
1988-89
34260
219,826,331
8,110,000
1989-90
34,475
231377,541
],9]0,000
19X0-91
34,475
236,563247
7,820,000
1991-92
35,047
246,509,786
7,660,000
1992-93
35,047
252,589,845
11,175,D00
1993-94
35294
258,886,975
10,985,000
1994-95
35294
274447,325
3,690,000
1995-96
35,464
288,75.915
3,2]0,000
1966-07
35,464
303,546290
3,070,000
Table 9
(1) Data provided by the Missoun Census Data Center. Fiscal year 1990 is based on the
U.S. Census Bureau 1990 firer census. Other years are based on Bureau ofthe
Census local population estimate repods, which ere provided u—annually.
(2) From Table 5.
(3) aces bonded debt does not Include revenue bonds.
(4) Amount available to sconce the general obligation bonds.
(5) Proceeds from the 1987 General Obligation Refunding Bonds held through an Escrow Agreemarn
were used to rotire the remaining $3,510,000 of tfre 1984 Public Buildng Serie) Bonds after
pnrcipal payment on November 1, 1994. Proceeds from the 1993 General Obligation Refunding Bonds
held thmugh an Escrow Agreement were used to retire the $3,580,000 outstanding pnncipal
of the 1%7 General Obligation Refunding Bonds on November 1, 1994
144
Fatly of NOT
Bonded
Less Debt
Debt Payable
Net
Dau to
Net Bonded
Sorvke
from Escrow
Bonded
Assessed
Deu per
Fund (4)
AccouM(5)
Debt
Value
Capita
$213,857
$3,510,000
$4,516,143
2.05) %
$132
433,777
3,510,000
4,166,223
1.90
IT
55,603
3.510'uoo
3,909,39]
1.69
113
556,832
3,51 (%000
3)51,168
1.56
109
59.376
3,510,000
3,551,624
1.44
101
409,461
7,090,000
3,675,539
1.46
105
269,498
7,090,000
3,625,502
1.40
103
542,572
—
3,147,428
1.15
89
557,477
—
2,832,523
0.98
80
859,680
—
2,210,320
0.73
62
(1) Data provided by the Missoun Census Data Center. Fiscal year 1990 is based on the
U.S. Census Bureau 1990 firer census. Other years are based on Bureau ofthe
Census local population estimate repods, which ere provided u—annually.
(2) From Table 5.
(3) aces bonded debt does not Include revenue bonds.
(4) Amount available to sconce the general obligation bonds.
(5) Proceeds from the 1987 General Obligation Refunding Bonds held through an Escrow Agreemarn
were used to rotire the remaining $3,510,000 of tfre 1984 Public Buildng Serie) Bonds after
pnrcipal payment on November 1, 1994. Proceeds from the 1993 General Obligation Refunding Bonds
held thmugh an Escrow Agreement were used to retire the $3,580,000 outstanding pnncipal
of the 1%7 General Obligation Refunding Bonds on November 1, 1994
144
Table 10
Cay 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.
145
Total
Ratio of
Total
General
Debt Service to
Fiscal
Debt
Governmental
General Governmental
Year
Principal
Interest (2)
Service
Expenditures (3)
Expenditures
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
1996-97
320,000
150,338
470,338
19,423,535
2.4
(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.
145
146
Table 11
City of Cape Girardeau, Missouri
Computation of Direct and Overlapping Bonded Debt
General Obligation Bonds
June 30, 1997
Net General Percentage
Obligation Applicable
Amount
Bonded Debt to
Applicable
Jurisdiction
Outstanding Government
to Government
Direct,
City of Cape Girardeau
$2,210,320 100.00%
$2,210,320
Overlapping:
School District
—
—
County
—
—
Total
$2,210 320
$2,210,320
146
City of Cape Girardeau, Missouri
Revenue Bond Coverage
Sewer Fund
Last Ten Fiscal Years
Table 12
Debt Service Requirements
Net Revenue
Fiscal
Gross
Operating
Available for
Year
Revenues (1)
Expenses (2)
Debt Service
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
1996-97
3,922,397
1,190,261
2,732,136
Table 12
Debt Service Requirements
Principal
Interest
Total
Coverage
$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
177,000 (4)1,402,334
1,579,334
1.73
(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.
Theca bonds are Intended to be repaid from a capital improvement sales tax
beginning January 1, 2000.
(4) Includes $718,424 In accreted Interest on capital appreciation revenue bonds.
These bonds are intended to be repaid from a capital improvement sales tax
beginning January 1, 2000.
147
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 depreciation.
148
Net Revenue
Debt Service Requirements
Fiscal
Gross
Operating
Available for
Year
Revenues (2)
Expenses (3)
Debt Service
Principal
Interest
Total
Coverage
1987-88
$ -
$ -
$ -
$ -
$ -
$ -
$ -
1988-89
-
-
-
-
-
-
-
1989-90
-
-
-
-
-
-
-
1990-91
-
-
-
-
-
-
-
1991-92
316,400
346,271
(29,871)
-
-
-
-
1992-93
3,520,448
2,242,601
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
1,368,667
305,000
756,763
1,061,763
1.29
1996-97
4,178,197
2,738,427
1,439,770
255,000
671,883
926,883
1.55
(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 depreciation.
148
City of Cape Girardeau, 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.
149
Table 14
Public
Fiscal
School
Unemployment
Year
Population (1)
Enrollment (2)
Rate
r
1987-88
34,260
4,340
5.2
i 1988-89
34,250
4,335
4.8
1989-90
34,475
4,332
6.1
r 1990-91
34,475
4,418
6.7
1991-92
35,047
4,369
6.1
1992-93
35,047
4,498
6.5
r 1993-94
35,294
4,423
4.7
1994-95
35,294
4,388
4.2
1995-96
35,464
4,413
4.7
1996-97
35,464
4,302
4.2
(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.
149
Table 14
TeN815
Ciry, of Cape Girardeau, Missouri
Property Value and Construction
Last Ten Fiscal Years
(1) Esti met ed actu el value from To be 5.
(2)Son rce: Base d on bui ldin 9 pe rmits u sed o n a c al on dar year basis by in c offic a of Planning Servi cos in soh kh
valu as we as6m at as of the cost of con st ruction provided at the tim a of permit ie su anc e.
150
Properly
Velue(1)
Nonresidential
Readen"
Construction
(2)
Construction (2)
Fiscal
Num bar
of
Number of
Year
Agricultural
Residential
Commercial
Totalep
anile
Valuetip
mite
Value
1987-68
$2008,917
$438,716,526
$254,913,500
$695,638,943
122
$10,298,895
307
$9,251,568
1988-89
1,926,825
451,590,642
258,946,622
712,464,089
137
12924,054
338
12067,087
1989-90
1,856,633
496,694,895
26,044,719
758,796,447
137
12646,664
143
8,318,426
1990-91
1,935,917
522325,368
256,957,419
781,218,704
149
17,252,328
147
8,373,182
1991-92
8,180,334
536,708,737
255,258,157
60,147,228
162
23,142,653
209
8,553,435
1992-93
10,345,417
546,489,737
261,004,719
817,839,873
128
34,246,809
245
13,429,310
1993-94
9,913,250
576.184,526
266,076,719
852174,495
120
18,341,402
253
14,545,917
1994-95
9,304,000
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
1996-97
7,966,834
665,457,270
274,589,656
948,013,760
111
31,594,471
267
15,533,107
(1) Esti met ed actu el value from To be 5.
(2)Son rce: Base d on bui ldin 9 pe rmits u sed o n a c al on dar year basis by in c offic a of Planning Servi cos in soh kh
valu as we as6m at as of the cost of con st ruction provided at the tim a of permit ie su anc e.
150
Table 16
City of Cape Gina reau, Missouri
Miscellaneous Sfadstics
June 30, 1 MY
Date of Incorporation
1686
Foca of nmem
Counclirfrlareger
Number of employees (amhding police and fire):
Classified
209
Exempt
21
Area In square miles
24,3
Miles of strew
2 M
Avul miles of stmt coistr cflon per year
2.35
City of Cape Girardeau facilities and services:
Curare and Rooeabon:
Pala
26
Pak acreage
6625
Golf courses
1
3winming pools
2
Libraries
1
Daavuot.o fadlltles
1
Fle P o:acton:
Number of stations
4
Number of file personnel and officers
63
Numbs, of emergency response calls
2,464
Number of Inspactlons conducted
329
Pallce Protection:
Number of stations
1
Numbr at police personnel and olflcurs
66
Numbs of law Ndadons:
Adult arrests
3.712
Traffic summonses
3,682
Parking Nolsol
2,7W
Sewerage System:
Mlles of sanhay sewers
193.13
Average miles of sews Il me construclim per yea
3.54
Number of Moment pians
1
pally everage tmtrnem In million gallons
5
Madmun rally cemchy of treatment pam In million (pilon
175
Water System:
Average number of customers
14,772
Miles of water mains
22266
Avol miles of water main construction per year
2,91
Number of now service mnnect.ns
120
Dally avaaW consumption In million gallons
4.7
Maximum dally capacity of plants In million gaflrns
7.3
Facilities and services not Included In no reporting entity:
Educwfon
Number of elementary sclpds
Public
6
Pdvela
5
Number- of el erne may public scrod Instrucm
167
Numbs of semndal scrools
Public
1
Private
1
Number of secondary public school Instuc rs
p1
Number of unmms hies
1
F spbals:
Numbs of hospitals
2
151
TRIS PAGE INTENTIONALLY LEFC BLANK.
152
I
0
SINGLE AUDIT SECTION
153
THIS PAGE INTENTIONALLY LEFT BLANK.
154
Begley, Janssen, Young & Birk, LC
r CERTIFIED PUBLIC ACCOUNTANTS
2103 THEMIS ST CAPE GIRARDEAU. MISSOURI 63701 -TELEPHONE (573) 334-2845 - FAX (5T3) 3344338
� R(,A TNERS
JOHN R. JANSSEN, CPA JENNIFER wESTRICH. CPA
- TERRY R. BEGLEY, CPA JEFF UNTERREI,UER, CPA
LAWRENCE E
w EVAN w eRK CPA
On, LPA INDEPENDENT AUDITORS' REPORT ON COMPLIANCE cAraeaweawsrtr.
.
WITH REQUIREMENTS APPLICABLE TO EACH MAJOR
PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE
r IN ACCORDANCE. WITH OMB CIRCULAR A-133
Honorable Mayor and Members
of the City Council
Cape Girardeau, Missouri
Compliance
We have audited the compliance of the City of Cape Girardeau,
Missouri. with the types of compliance requirements described in the
U.S. Office of Management and Budget (OMB) Circular A-133
Compliance Supplement that are applicable to each of its major
federal programs for the year ended June 30, 1997. The City of
Cape Girardeau, Missouri's major federal programs are identified in
r the summary of the auditor's results section of the accompanying
schedule of findings and questioned costs. Compliance with the
r requirements of laws, regulations, contracts and grants applicable
to each of its major federal programs is the, responsibility of the
City of Cape Girardeau, Missouri's management. Our responsibility
is to express an opinion on the City of Cape Girardeau, Missouri's
compliance based on our audit.
r
We conducted our audit of compliance in accordance with generally
accepted auditing standards; the standards applicable to financial
y, audits contained in Government And 'tt Ina Standards, issued by the
Comptroller General of the United States; and OMB Circular A-133,
L. "Audits of Stater,, Local Governments, and Non -Profit Organizations".
Those standards and OMB Circular A-133 require that we plan and
perform the audit to obtain reasonable assurance about whether
noncompliance with the types of compliance requirements referred t0
above that could have a direct and material effect on a major
w. federal program occurred. An audit includes.examining, on a test
basis, evidence about the City of Cape Girardeau, Missouri's
compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances. We
believe that our audit provides a reasonable basis for our opinion.
r. Our audit does not provide a legal. determination of the City of
Cape Girardeau, Missouri's compliance with those requirements.
r
In our opinion, the City of Cape Girardeau, Missouri complied, in
all material respects, with the requirements referred to above that
are applicable to each of its major federalprograms for the year
ended June 30, 1997.
r
w.
Honorable Mayor and Members of the
City Council
City of Cape Girardeau, Missouri
Page 2
Internal Control Over Compliance
The management of the City of Cape Girardeau, Missouri is
responsible for establishing and maintaining effective internal
control over compliance with requirements of laws, regulations,
contracts and grants applicable to federal programs. In planning
and performing our audit, we considered the City of Cape Girardeau,
Missouri's internal control over compliance with requirements that
could have a direct and material effect on a major federal program
in order to determine our auditing procedures for the purpose of
expressing our opinion on compliance and to test and report on
internal control over compliance in accordance with OMS Circular
A-133.
Our consideration of the internal control over compliance would not
necessarily disclose all matters in the internal control that might
be material weaknesses. A material weakness is a condition in
which the design or operation of one or more of the internal
control components does not reduce to a relatively low level the
risk that noncompliance with applicable requirements of laws, _
regulations, contracts and grants that would be material in
relation to a major federal program being audited may occur and not
be detected within a timely period by employees in the normal
course of performing their assigned functions. We noted no matters —
involving the internal control over compliance and its operation
that we consider to be material weaknesses.
Schedule of Expenditures of Federal Awards
We have audited the general purpose financial statements of the
City of Cape Girardeau, Missouri as of and for the year ended June
30, 1997, and have issued our report thereon dated November 20,
1997. Our audit was performed for the purpose of forming an
opinion on the general purpose financial statements taken as a
whole. The accompanying schedule of expenditures of federal awards
is presented for purposes of additional analysis as required by OMB
Circular A-133 and is not a required part of the general purpose
financial statements. 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 stated, in all
material respects, in relation to the general purpose financial
statements taken as a whole.
This report is intended for the information of the City Council,
management of the City of Cape Girardeau, Missouri, and federal
awarding agencies and pass-through entities. However, this report
is a matter of public record and its distribution is not limited.
BEGLEY,JANSSEN, YOUNG & BIRK, LC
3" , , � � avty cep
Cape Girardeau, Missouri
November 20, 1997
156
r
Begley, Janssen, Young & Birk, LC
CERTIFIED PUBI.ICACCOUNTANTS
2103 THEWS ST. CAPE GIRARDEAU, MISSOURI 6370/- TELEPHONE (573) 31N-2845-FAX(573)334-4338
t
it PARTNER$
JOHN JANSSEN, CPA JENNIFER WESTRICH, GPA
TERRY R. BEGLEY. CPA JEFF UNTERREINER, CPA
LAWRENCE E. YOUNG, CPA CATHERINE A. WHILE
W KELVIN W. BIRK, CPA
1NDEPENDENT AUDITORS' REPORT ON COMPLIANCE AND ON
INTERNAL CONTROL OVER FINANCIAL REPORTING BASED
ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED TN
ACCORDANCE WITH MV .RF LAMENT AU —1ZING STANDARDS
r3
Honorable Mayor and Members
of the City Council
r City of Cape Girardeau, Missouri
We have audited the financial statements of the City of Cape
Girardeau, Missouri as of and for the year ended June 30, 1997,
and have issued our report thereon dated November 20, 1997.
we conducted our audit in accordance with generally accepted
auditing standards and Government Auditing Standard•, issued by
the Comptroller General of the United States. -
t
AS
As part of obtaining reasonable assurance about whether the City
of Cape Girardeau, Missouri's financial statements are free of
material misstatement, we performed tests of its compliance with
certain provisions of laws, regulations, contracts and grants,
noncompliance with which could have a direct and material effect
on the determination of financial statement amounts. However,
providing an opinion on compliance with those provisions was not
r an objective of our audit and, accordingly, we do not express
such an opinion. The results of our tests disclosed no instances
of noncompliance that: are required to be reported under
GOVernmen('udJ. Standards.
Internal Con xol Over Financial Reporting
In planning and performing our audit, we considered the City of
.. Cape Girardeau, Missouri's internal control over financial
reporting in order to determine our auditing procedures fox the
purpose of expressing our opinion on the financial statements and
r not to provide assurance on the internal, controlover financial
reporting. However, we noted a certain matter involving the
„ internal control over financial reporting and its operation that
we consider to be a reportable condition. Reportable conditions
involve matters coming to our: attention relating to signifi..cant
deficiencies in the design or operation of the internalcontrol.
over financialreporting that, in our judgment, could adversely
r affect the City of Cape Girardeau, Missouri's ability to record,
process, summarize and report financial data consistent with the
assertions of management in the financial statements. The
reportable condition is described in the accompanying schedule of
findings and questioned costs.
157
Honorable Mayor and Members of the
City Council
City of Cape Girardeau, Missouri
Page 2
A material weakness is a condition in which the design or
operation of one or more of the internal control components does
not reduce to a relatively low level the risk that misstatements
in amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. Our consideration of the internal
control over financial reporting would not necessarily disclose
all matters in the internal control that might be reportable _.
conditions and, accordingly, would not necessarily disclose all
reportable conditions that are also considered to be material
weaknesses. However, we believe that the reportable condition
described above is not a material weakness.
This report is intended for the information of the City Council,
management of the City of Cape Girardeau, Missouri, and federal
awarding agencies and pass-through entities. However, this
report is a matter of public record and its distribution is not
limited.
BEGLEY, J(A�N�SS�EN�,� YO/DUA�NNGYY& BIRK, LC
Cape Girardeau, Missouri
November 20, 1997 .�
r
15i;
—
I
p' Department of Education
r Passed through Missouri Department of Education
Passed through Cape Girardeau Public Schools
Drug Free Schools Program 84.186 4,000 4,000
Passed through Missouri State Library
Library Services & Construction Program 84.034 4,005 _„ 4,005
Total Department of Education --... 8 005
r
City of Cape Girardeau, Missouri
r
SCHEDULE OF EXPENDITURES OF
FEDERAL
AWARDS
June 30, 1997
Community Development Block Grants
r
Federal
Program
435,176
130,529
Federal Grantor/Pass-through
CFDA
or Award
Federal
�+
Q—rAn(ffTr9er91It Ti1Ie
Number
A_Mount
ExRodihtres
41,838
Department of Commerce
94 -DR -96 Flood Buyout Program
14.219
760,000221-820
Economic Development Administration
Subtotal
515421
Sudden and Severe Economic Dislocation
R91 -SG -29-0103 Rental Rehab
14,230
171,070
3,263
Implementation Project Water Plant 41
11.307
S 729,750
S 447,830
r
Wastewater Treatment Plant Access & Power Supply
11.307
392,000
252,969
13 0{}p
Sprigg Street Elevation
11307
425,750
195 580
531 084
Total Department of Commerce
896.379
c
Department of the Interior
p' Department of Education
r Passed through Missouri Department of Education
Passed through Cape Girardeau Public Schools
Drug Free Schools Program 84.186 4,000 4,000
Passed through Missouri State Library
Library Services & Construction Program 84.034 4,005 _„ 4,005
Total Department of Education --... 8 005
r
159
Department of Housing and Urban Development
,.
Passed through Missouri Dept of Economic Development
Community Development Block Grants
94 -ND -02 Locust/Maple
14.219
435,176
130,529
95 -ND -02 Locust/Maple
14.219
350,000
51,774
95 -ED -27 D& K Wholesale Drug
14219
70,239
41,838
94 -DR -96 Flood Buyout Program
14.219
760,000221-820
r
Subtotal
515421
R91 -SG -29-0103 Rental Rehab
14,230
171,070
3,263
Passed through Missouri Dept of Social Services
Emergency Shelter Grant
14.231
13,000
13 0{}p
t
Total Department of Housing and Urban Development
531 084
r
c
Department of the Interior
Environmental Protection Agency
Passed through Missouri Dept of Natural Resources
r
SRF Loan Series 1991A C295004-01
66.458
-
39,608
SRF Loan Series 1993A 0295004-02
66.458
13,915
r,
SRP Loan Series 1995D 0295229-01
66.458
-
221,846
r
SRF Loan Series 1996D C295229-02
66.458
-
172 04„5
r
Subtotal
547,414
159
City of Cape Girardeau, Missouri
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
June 30, 1997
160
Federal
Program
Federal Grantor/Pass-through
CFDA
or Award
Federal
Grantor/Program Title
Numbe
Amount
Expenditures
Department of the Interior (Continued)
Federal Emergency Management Agency
Hazard Mitigation Assistance
83.519
51,480,585
51,128,172
Emergency Assistance
83.516
-
11,838
Total Department of the Interior
1697 424
Department of Justice
Passed through Missouri Dept of Public Safety
Victims of Crime Act (FY '95)
16575
5,000
2,320
Victims of Crime Act (FY `96)
16.575
7,622
3.544
Total Department of Justice
5.86
Department of Transportation
Federal Aviation Administration
Airport Runway Remarking 953-77A
20.106
35,244
35,244
Airport Reconstruction & Expansion 935-77A
20.106
2,296,856
319.933
Subtotal
355,177
Federal Highway Administration
Passed through Missouri Highway & Transportation Dept
Off -System Bridge Replacement & Rehabilitation
Hopper Road Bridge - BRO-BRM-016(18)
20.205
32,608
899
South Sprigg Street Bridge - FALL #M-1518(004)
20.205
451,960
378,355
Subtotal
379,254
Community Traffic Safety Program - 96 -CP -09-07
20.600
59,750
34,500
Safe Communities Grant - 96 -SA -09-8
20.600
104,647
30,940
Safe Communities Grant - 97 -SA -09-2
20.600
160,520
52.422
Subtotal
117,862
Public Taxi Coupon Transportation - MO-18-X016-4CG
20.509
98,181
92,350
National ISE TE Recreation Trails Funding Program
20219
449,600
89,570
Community Team Spirit Conference
20.601
40,000
4.515
Total Department of Transportation
1.038.728
TOTAL FEDERAL EXPENDITURES
$4,178,084
160
I
THE CITY OF CAPE GIRARDEAU, MISSOURI
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED .TUNE 30, 1997
A. SUMMARY OF AUDIT RESULTS
` 1.
The auditor's report expresses an unqualified opinion on
the statements of the City of Cape Girardeau, Missouri.
2.
One reportable condition disclosed during the audit of
the financial statements was reported in the Independent
Auditors' Report on Compliance and on Internal Control
over. Financial Reporting Based on an Audit of Financial
Statements Performed in Accordance with Government
Audix�ng Standar„.
3.
No instances of noncompliance material to the financial
statements were disclosed during the audit.
4.
No reportable conditions were disclosed during the audit
of the major federal award programs.
5.
The auditor's report on compliance for the major federal
W
award programs for the City of Cape Girardeau, Missouri
�..
expresses an unqualified opinion.
W 6.
The programs tested as major programs included:
Department of Housing and Urban Development
W
Community Development Block Grants
CFDA # 14.219
Department, of the Interior
Federal Emergency Management Agency
CFDA # 83.519
r
r
Department of Transportation
Federal Highway Administration
CFDA # 20.205
W
7.
The threshold for distinguishing Type A and s programs
was $300,000 in federal expenditures.
S.
The City of Cape Girardeau, Missouri was determined to
be a low-risk auditee.
r
161
SCHEDULE OF FINDINGS AND QUESTIONED COSTS CONTINUED
r
PAGE 2
B. FINDINGS -FINANCIAL STATEMENTS AUDIT
1. Cash Receipts
Condition: The duties of handling cash receipts are not
properly segregated. one individual is responsible for
depositing daily receipts, reconciling the bank account
and authorizing bank wire transfers.
Criteria: Internal controls should be in place that
provide reasonable assurance that receipts are properly
deposited, wire transfers authorized and bank accounts
independently reconciled.
..
Effect: The lack of segregation of duties could result
in undetected cash shortages.
Recommendation: Procedures should be implemented to
require the bank reconciliation function be completed by
a person separate from the receipt and deposit
functions. Also, procedures should be implemented to
ensure that the City's bank confirms all wire transfers
with the Finance Director, as previously agreed.
Response: We concur with the recommendation. Such
procedures willbe implemented.
162