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CAFR FY1973KODIAK ISLAND BOROUGH REPORT ON EXAMINATION YEAR ENDED JUNE 30, 1973 u MAIN I.AF$ E NT Z &- Co. ANCHOEAoF -, ALASKA 1 1 1 KODIAK ISLAND BOROUGH TABLE OF CONTENTS Accountants' report Exhibit Combined balance sheet, various funds A General Fund Balance sheet B Statement of changes in fund balance C Statement of actual and estimated revenues D Statement of actual and estimated expenditures E Kodiak Aleutian Mental Health Center Balance sheet F Statement of changes in fund balance G Statement of revenues H Statement of expenditures Fire District Fund Balance sheet J Statement of actual and estimated revenues and expenditures and changes in fund balance K Land Sales Fund Balance sheet L Statement of revenues, expenditures and changes in fund balance M School District - General Fund Balance sheet N Statement of changes in fund balance O Statement of actual and estimated revenues P Statement of actual and estimated expenditures Q School Lunch Fund Balance sheet R Statement of changes in fund balance S Statement of revenues T Statement of expenditures U Student Activity Funds Balance sheet V Statement of revenues, expenditures, transfers, and changes in fund balance (deficit) W 1 MAIN L F R E NT Z 8c CO. CERTIFIED PUBLIC ACCOUNTANTS H Members of the Borough Assembly Members of the School Board Kodiak Island Borough 509 WEST THIRD AVENUE ANCHOEAoF, ALASKA 99501 907- 272 -8541 t OFFICES OR ASSOCIATED FIRMS U. S.A.,CANADA, MEXICO, SOUTH AMERICA GREAT BRITAIN, EUROPE, MIDDLE EAST AUSTRALIA, AFRICA Anchorage, Alaska August 11, 1973 l � _ We have examined the balance sheets of the various funds of the Kodiak Island Borough as of June 30, 1973, and the related statements of operations for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting ' records and such other auditing procedures as we considered necessary in the circumstances. Records of general fixed assets have not been maintained in a manner as to permit verification. Our examination was limited to expenditures for capital outlays 7 in the current year. In our opinion, except as indicated in the preceding paragraph, the accompanying financial statements present fairly the financial position of the various funds of the Kodiak Island Borough, at June 30, 1973, and the results of its operations for the year then ended in conformity with generally accepted accounting principles applied on a basis consistent in all material respects with ' that of the preceding year. t OFFICES OR ASSOCIATED FIRMS U. S.A.,CANADA, MEXICO, SOUTH AMERICA GREAT BRITAIN, EUROPE, MIDDLE EAST AUSTRALIA, AFRICA Anchorage, Alaska August 11, 1973 l � _ KODIAK ISLAND BOROUGH COMBINED BALANCE SHEET, VARIOUS FUNDS JUNE 30, 1973 Cash, including temporary cash investments Receivables Property taxes, net Notes receivable from land sales State of Alaska Federal Government Advances to hospital Other receivables, net Due from other funds Other assets Amount available for retirement of term bonds Amount to be provided for retirement of bonds ASSETS Mental Fire Land General health district sales fund center fund fund $ 443,885 $ 13,642 $ - -- 250,225 75,848 - - - 301,430 - 12,725 - 54 5,410 - - - 20,000 - - - 2,512 6 - 9 103,770 19, 081 - = 2,733 - 12,234 3,124 14,025 - - $550,388 $ 46,74 $ 12 $ 619,160 The accompanying notes are an integral part of these financial statements. Exhibit A School School Student Tobacco Capital district lunch activity tax projects general fund fund fund fund funds Debt General service long -term fund debt $ 226,354 $ 14,248 $ 16,219 $ 145 $ 1,894,082 $ 105,000 $ - 211,519 3,375 - - - - - 10,000 4,560 - - 1,600 - - 46,321 - - - 20,781 2 - 7,935 - - 22,381 2,733 - 88,554 - - - 42,502 30,252 - - 6,047 - - - - - _ - - - - - 105,000 - - - - - - 5,095,000 $ 582,748 $ 28,230 $ 16,219 $ 145 $ 1,958,965 $ 137,985 $ 5,200,000 KODIAK ISLAND BOROUGH COMBINED BALANCE SHEET, VARIOUS FUNDS JUNE 30, 1973 LIABILITIES, RESERVES, AND FUND BALANCES Mental Fire Land General health district sales fund center fund fund Liabilities Accounts payable Payroll taxes and retirement withheld and accrued Due to City of Kodiak Revenue collected in advance Due to other funds Bonds payable Total liabilities Reserves Reserve Reserve Reserve Reserve expens Reserve for encumbrances for hospital operations for working capital for survey and appraisal e for municipal building Total reserved Fund balances Invested in fixed assets Restricted Unrestricted Total fund balances $ 10,433 $ 4,562 $ 2,065 3,329 - - 35,258 - - 120,026 535 - - 167,782 8,426 - - 30,000 - - - 30,000 - - - 53,690 - - - 86,000 60,000 - - 139 - 14,025 - - 29 - 12 - 293,357 24,297 - 479,470 3 22,606 38,322 _1 479,470 $ 550,388 $ 46,748 $ 12,234 $ 619,160 The accompanying notes are an integral part of these financial statements. ci`, Exhibit A Continued School School district lunch general fund fund $ 59 $ - 194,303 2 15,580 10,273 269 12,499 Student Tobacco Capital Debt General activity tax projects service long -term fund fund funds fund debt - - 30,252 2,733 - - - - - 5,200,000 - - 30,252 2,733 5,200,000 90,031 11,225 - - - - - 90,031 11 - - - - - 101,829 4,506 16 145 1 135,252 - 121,594 - - - - - 223,423 4,506 16,219 145 1,928,713 135,252 - $$ 58�2�748 $ 228,230 $ 16,219 $ 145 $ 1,958,965 $ 137,985 $ 5,200,000 KODIAK ISLAND BOROUGH GENERAL FUND BALANCE SHEET JUNE 30, 1973 ASSETS Cash Unrestricted Restricted for hospital operations (Note 1) Total cash Receivables. Property taxes Real Persona I Less allowance for uncollectible taxes Net property taxes receivable Advances to hospital Due from federal government Accrued interest receivable Net receivables Due, from Debt Service Fund $ 67,088 17,760 84,848 9,000 75,848 20,000 5,410 2,512 $ 413,885 30,000 443,885 103,770 2,733 $ 550,388 The accompanying notes are an integral part of these financial statements. LIABILITIES, RESERVES, AND FUND BALANCE Liabilities Accounts payable Payroll taxes accrued and withheld Due to City of Kodiak (Note 3) Due to other funds Fire District Fund $ 12,234 Land Sales Fund 3,124 Capital Projects Fund 26 School District General Fund 77,746 Total due to other funds Total liabilities Reserves Reserve for hospital operations (Note 1) $ 30,000 Reserve for working capital 30,000 Total reserves Fund, balance Restricted $ 29,249 Unrestricted 293 Total fund balance Exhibit B $ 10,433 2,065 35,258 120,026 167,782 60,000 322,606 $ 550,388 Exhibit D KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED REVENUES YEAR ENDED JUNE 30, 1973 Property taxes Real and personal Payments in lieu of taxes Penalties and interest on taxes Licenses and permits Building and trailer permits Subdivision fees Revenues from use of money and property Interest Rent from leased land Forestry Miscellaneous reimbursement of costs Revenues from State of Alaska Local service roads Raw f ish tax Business license refund Electric co- operative tax refund Amusement and gaming device refund Shared revenues Hospital Land use planning Health facilities Revenues from Federal sources Revenue sharing Actual over (under) Estimated Actual estimated $ 336,000 $ 360,550 $ 24,550 2,000 677 (1,323 338,000 361,227 23,227 5,000 5,870 87 0 1,300 2,963 1,663 400 1,444 1,044 1 4 2,707 7,000 5,068 (1,932) 7,000 12,351 5,351 1,500 2,991 1 2,500 3 952 18,000 23,862 5,862 92,000 25,153 (66,847) 85,000 72,816 (12,184) 9,000 13,672 4,672 5,000 5,020 20 150 72 (78) 45,000 24 (20,571) 12,714 12,428 (286) 7,500 13 5 256,364 166 (89,426 2 3,377 29,249 5,872 Exhibit C KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1973 The accompanying notes are an integral part of these financial statements. Restricted - Federa I Revenue Total Unrestricted Sharing Balance, July 1, 1972 $ 159 $ 159,126 $ - Add Revenues 697,347 668,098 29 Transfer from reserve for working capital 70,000 70,000 - 767,347 738,098 29,249 Deduct - Expenditures 603,867 603,867 - Balance, June 30, 1973 $ 322,606 $ 293,357 $ 29,249 The accompanying notes are an integral part of these financial statements. Exhibit D Continued KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED REVENUES YEAR ENDED JUNE 30, 1973 Contributions of interest income from other funds Capital Projects Fund Debt Service Fund Actual over (under) Estimated Actual estimated $ 15,000 $ 99 $ 84,711 4,500 6,083 1,583 19,500 105,794 86,294 $ 661,941 $ 697,347 $ 35,406 The accompanying notes are an integral part of these financial statements. 1 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR . ENDED JUNE 30, 1973 Borough assembly Assemblymen travel Assembly compensation ' Legal department Borough attorney Court costs ' Litigation allowance Additional attorney fees Capital expenditures Furniture and fixtures Office machines Other capital improvements Contribution to Capital Projects Fund L Estimated $ 2,000 1,800 3,800 4,200 500 2,000 3,000 9,700 Actual $ 155 420 575 8,228 242 400 1,711 10 581 General government operation Salaries Chairman Clerk- treasurer Secretary Cashier- bookkeeper Clerk- typist Extra help Chairman /manager expense Employment security taxes Social security taxes Insurance and bonding Group insurance Professional development training Publication and dues Publication of hearings 1,500 2,000 4,000 80,144 87,644 600 16,250 9,000 7,704 6,500 1,800 750 2,000 3,000 2,100 2,125 150 3,000 1,700 66 530 80,144 80,740 13,020 6,002 7 6,085 259 180 985 3,138 1,911 1,201 146 2,384 1,973 Exhibit E Actual over (under) estimated $ (1,845) (1,380 (3,225 4,028 (258) (1,600) (1,289) :s (1,434) (1,470) (4,000) (6,904 (600) (3,230) (2,998) 264 (415) (1,541) (570) (1,015) 138 (189) (924) (4) (616) 273 2] 1 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR ENDED JUNE 30, 1973 Exhibit E Continued Actual over (under) Estimated Actual estimated Postage $ 1,700 $ 1,634 $ (66) Maps and books 800 859 59 Office supplies 2,500 4,075 1,575 Office rental 8,250 8,205 (45) Utilities 300 233 (67) Telephone and telegraph 2,000 1,320 (680) Repair and maintenance of machines 1,300 1,293 (7) Equipment rental 150 126 (24) Transportation and travel 750 - (750) Vehicle operation and maintenance 500 16 (484) Post audit 6,900 6 - Elections 3,500 3,025 (475) Provision for uncollectible taxes - 3 3,669 Contracted services 16 4,700 (11,900 101,929 81,307 (20,622 Contingencies 134 134 - Assessment department Assessor 14,870 13 (1,702) Assessment clerk' 8,860 7,182 (1,678) Assessment appraiser and clerical 4,000 455 (3,545) Professional development and training 350 - (350) Marine surveyor 400 62 (338) Advertisements 1,000 310 (690) Printed matter and forms 1,500 958 (542) Subscriptions and books 250 225 (25) Miscellaneous office supplies and maps 300 941 641 Repair and maintenance of machines 200 - (200) Transportation and travel 500 4 (496) Rental - vehicle and aircraft 500 776 276 Telephone and telegraph 150 43 (107 32,880 24,124 (8,756 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Exhibit E Continued KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR ENDED JUNE 30, 1973 Planning and zoning commission Engineering services Planner - building inspector Building inspector salary overhead Contractual services Commission meetings Advertising Snow removal Local road service Support of Kodiak IslanO schools Debt service fund contributions Principal Interest Health and sanitation Hospital insurance Health expenses Support of health center Comprehensive health board expenses Hospital bond fiscal agency fees Health support Support of Halfway House Actual over (under) Estimated Actual estimated $ 3,000 $ 2,144 $ (856) 7,200 11,173 3 300 - (300) 20,398 8,712 (11,686) 300 - (300) 350 757 407 2,000 2,000 - 92,000 25,503 (66,497 125,548 50,289 (75,259 310,000 310,000 15 15,000 - 14,625 14,625 - 29,625 29 - 6 6,849 499 250 373 123 1,000 886 (114) 300 86 (214) 200 153 (47) 6,000 6 145 2 2,000 - 16,100 _ 16 392 $ 717 $ 603,867 $(113,493 The accompanying notes are an integral part of these financial statements. Exhibit F 1 1 1 1 1 KODIAK ISLAND BOROUGH KODIAK ALEUTIAN MENTAL HEALTH CENTER BALANCE SHEET JUNE 30 1973 ASSETS Cash Receivables Patients Less allowance for uncollectible accounts Net patients' receivables State of Alaska Employee Net receivables Furniture and equipment, at cost LIABILITIES AND FUND BALANCE Liabilities Accounts payable Payroll taxes accrued and withheld Due School District General Fund Total liabilities Fund balance Invested in fixed assets Unappropriated $ 8,386 3,030 5,356 12,725 1,000 $ 14,025 2 4, 297 The accompanying notes are an integral part of these financial statements. $ 13,642 19,081 14,025 $ 46,748 $ 4,562 3,329 535 8,426 38,322 $ 46,748 a WJ 72 x .T. V }e V Y 0 O Y ce w 1^ Z LU V uj h W Z er H D w Q Y Q Q Y LLJ V Z cc d D u .. z cm ui Z d V 0 w w Q r V) N r Q M LIJ D n 0 w 0 Z w w c o 04 £ " x w N �O > �d N N C tJ N m C N N r N 0 O u b4 c c a o) H v > d C M O• U N , %0 N ^ L co "'t t Q r MI CN A r U c 0 O 4 o 8 o 8 3 o 04 Cr- 0- N N N tJ m CN r !d3 N N r N r N r M N C> N 00 o• o• o• N N co 0 SO O 4 o 8 o 8 3 N 0 a) x o 0 L a 't3 C Q x 4) N ur �` � C Q) i > L Q C#) N O� N 4 � M C C U � 0L --� x U � U U � r d 0 •C Q) L W O D C C 0)44 c U •>, h C �} o o 0 a o CL s o 04 0 NN m CN N !d3 N co 0% M N C> N 00 Ca M a N N N co 0 SO "qr M t✓, N 0 a) x o 0 L a 't3 C Q x 4) N ur �` � C Q) i > L Q C#) N O� N 4 � M C C U � 0L --� x U � U U � r d 0 •C Q) L W O D C C 0)44 c U •>, h C �} o o 0 a o CL s 1 1 1 1 1 Exhibit H KODIAK ISLAND BOROUGH KODIAK ALEUTIAN MENTAL HEALTH CENTER STATEMENT OF REVENUES YEAR ENDED JUNE 30, 1973 Revenues from local sources Kodiak Island Borough $ 6,000 Fees for services 27,977 O ther 5,933 39,910 Revenues from state sources Contract for community mental health services $ 50,900 Drug abuse prevention program 1,000 51,900 Revenues from federal sources Received through the state social services contracts under Title IV and XVI, Social Security Act 19,117 Revenues from federal sources received directly Staffing grant (P.O. 91 -211) 49 $ 160,087 The accompanying notes are an integral part of these financial statements. 1 KODIAK ISLAND BOROUGH KODIAK ALEUTIAN MENTAL HEALTH CENTER STATEMENT OF EXPENDITURES YEAR ENDED JUNE 30, 1973 Employee workshop and seminar expenses The accompanying notes are an integral 9 part of these financial statements. Exhibit I $ 15,250 500 9,336 380 24,400 600 4,612 9 7,636 7,456 5,712 1,500 819 3,058 128 90,814 6,837 348 1,450 1,159 8,400 2,571 456 294 1,199 8,581 3,560 1,339 3,716 7, 791 684 1,292 1,000 334 214 51,225 $ 142,039 Salaries and contractual services Administrative assistant Mental Health Aid 4 1 ' Mental Health Aid 0 2 Psychiatrist ' Psychologist Psychologist consultant Typist - part time Secretary Social worker Community aide Village coordinator ' Village aide ' Psychiatric social worker Relocation and interview expense - psychiatric social worker ' Miscellaneous labor Employee workshop and seminar expenses The accompanying notes are an integral 9 part of these financial statements. Exhibit I $ 15,250 500 9,336 380 24,400 600 4,612 9 7,636 7,456 5,712 1,500 819 3,058 128 90,814 6,837 348 1,450 1,159 8,400 2,571 456 294 1,199 8,581 3,560 1,339 3,716 7, 791 684 1,292 1,000 334 214 51,225 $ 142,039 Other expenses Payroll taxes Equipment rental Group insurance Insurance and bonding Off ice rent ' Office supplies and expense Postage Printed matter and forms Publications and dues Staff training and travel Telephone and telegraph Tutorial aid program Uncollectible revenue Furniture and equipment Miscellaneous ' Day Care Program Drug Abuse Prevention Progrcm Accounting system design Employee workshop and seminar expenses The accompanying notes are an integral 9 part of these financial statements. Exhibit I $ 15,250 500 9,336 380 24,400 600 4,612 9 7,636 7,456 5,712 1,500 819 3,058 128 90,814 6,837 348 1,450 1,159 8,400 2,571 456 294 1,199 8,581 3,560 1,339 3,716 7, 791 684 1,292 1,000 334 214 51,225 $ 142,039 1 1 1 1 1 Exhibit J KODIAK ISLAND BOROUGH FIRE DISTRICT FUND BALANCE SHEET JUNE 30, 1973 ASSETS Due from General Fund $ 12 LIABILITIES AND FUND BALANCE Fund balance $ 12,234 The accompanying notes are an integral part of these financial statements. t 1 Exhibit K KODIAK ISLAND BOROUGH FIRE DISTRICT FUND STATEMENT OF ACTUAL AND ESTIMATED REVENUES AND EXPENDITURES AND CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1973 Actual over (under) Estimated Actual estimated Fund balance, July 1, 1972 $ 19 Add revenues Real and personal property taxes $ 7,700 8,902 $ 1 , 202 State revenue sharing 7,300 7,132 (168 15,000 16 1,034 Deduct contractual fire services 21,000 23,108 2,108 Excess of expenditures over revenue $ 6 7,074 $ 1,074 Fund balance, June 30, 1973 $ 12,234 The accompanying notes are an integral part of these financial statements. 1 1 1 1 1 1 1 1 1 KODIAK ISLAND BOROUGH LAND SALES FUND BALANCE SHEET JUNE 30, 1973 ASSETS Cash, including $210,000 certificates of deposit Notes receivable from land sales Due from State of Alaska Due from Community College Due from General fund Accrued interest receivable RESERVES AND FUND BALANCE Reserves Reserve for survey and appraisal expense Reserve for municipal building Total reserves Fund balance The accompanying notes are an integral part of these financial statements, Exhibit L $ 250,225 301,430 54,980 7,000 3,124 2,401 $ 619,160 $ 53,690 86,000 139,690 479,470 $ 619,160 11 Exhibit M KODIAK ISLAND BOROUGH LAND SALES FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1973 Balance, July 1, 1972 $ 53,745 Add revenues Collections by State of Alaska for sales and leases of Borough properties $ 77,769 Sales by Borough of land 380,211 Interest income 5,727 463 517,452 Deduct Land sales expenses $ 10,982 Contribution to City of Kodiak for Baranof Playground 27,000 37,982 Balance, June 30, 1973 $ 479,470 The accompanying notes are an integral part of these financial statements. Exhibit N KODIAK ISLAND BCROUGH SCHOOL DISTRICT - GENERAL FUND BALANCE SHEET JUNE 30, 1973 ASSETS Cash Accounts receivable State of Alaska $ 211,519 Federal Government - Public Law 874 10,000 Other 46,321 Total accounts receivable Due from Kodiak Aleutian Mental Health Center Due from School Lunch Fund Due from Kodiak Island Borough General Fund LIABILITIES, RESERVES, AND FUND BALANCE Liabilities Accounts payable Payroll taxes and retirement, withheld and accrued Due to Capital Projects Fund Total liabilities Reserve for encumbrances Fund balance Restricted Unrestricted Total fund balance $ 101,829 121,594 $ 226,354 267,840 535 10,273 77,746 $ 582,748 $ 59,411 194,303 15,580 269,294 90,031 223,423 $ 582,748 The accompanying notes are an integral part of these financial statements. KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1973 Unrestricted Restricted ESEA Title I Perceptual Handicaps Individualized follow -up Sesame Street Old Harbor Secondary Individualization Reading Progress District Mission ESEA Title II Special purpose Basic ESEA Title III Special learning Mini Intertidal Mini Surveying ESEA Title IV -A Early Childhood ESEA Title V Teachers Aide Training ESEA Title VI Mini Grant 1971 -72 Mini Grant 1972 -73 Johnson O'Malley Travel Reading Specialist State of Alaska - Vocational Education Career Education and Awareness Electronics Balance July 1 1972 $ 26,924 3,957 3,688 1,030 485 Prior year adjustments $ 3,258 (3,957) (3,688) (1,030) (485) 432 11 176 739 Public Employment Program - Main School Renovation - Total restricted 10,518 $ 37,442 The accompanying notes are an integral - part of these financial statements. (9,171 $ (5,913 Exhibit O Balance' Balance after prior June 30 year adjustments Revenues Expenditures 1973 $ 30,182 $ 3,988,383 $ 3,896,971 $ 1.21,594 - 5,578 5,578 - - 3,795 3,519 276 - 6,172 5, 91 5 50 257 432 - 51 381 - 2 2,250 - - 102,190 102,190 - - 1,159 1,159 - - 965 965 - - 66,784 66,784 - - 15,926 15,926 - - 270 270 - 176 - - 176 - 16,000 16,000 - - 5,096 5,096 - 739 - - 739 - 57,116 57,116 - - 100,000 - - 1,347 383,301 282,819 101,819 $ 31,529 $ 4 (a) $ 4,179,790 (a) $ 223,423 (a) Includes transfer of $100,000 from unrestricted fund balance to Main School Renovation Fund. Exhibit P KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED REVENUES YEAR ENDED JUNE 30, 1973 Actual over (under) Estimated Actual estimated Revenues from local sources Kodiak Island Borough $ 310,000 $ 310,000 $ - Tuition - Community College 5,000 11,483 6,483 Rental of facilities 4,500 4 - Contributions to Project FISH 2,500 2 - Other - 2 2,135 322,000 330,618 8,618 Revenue from State sources Foundation program 3,007,008 3,024,335 17,327 Tuition 149,330 178 29 Transportation 121,050 129 8 Vocational education reimbursement 24,710 24 (364) Revenue sharing (mini 874) 27,878 27,786 (92) Debt service reimbursement 8,462 8,462 - State Sabbatical program 6 6 - Civil Defense contract 600 600 - 3,345,422 3,399,684 54,262 Revenues from Federal sources received through the State Elementary - secondary Education Act Title 1 16,139 15,546 (593) Title II 2,250 2 - Title III 111,153 104 (6,839) Title IV -A 66,784 66 - Title V 17,000 15,926 (1,074) Title VI 493 270 (223) Public Employment Program - 57,116 57,116 Johnson - O'Malley funds Communication skills 16,000 16,000 - General 53,000 53,000 - 282,819 331,206 48,387 Revenues from Federal sources received directly Federal impact assistance (Public Law 874) 49,841 142, 749 92, 908 Exhibit P Continued KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED REVENUES YEAR ENDED JUNE 30, 1973 Estimated Contribution from Tobacco Tax Fund for debt service $ 67,427 $ 4 Actual $ 67,427 $ 4,271,684 Actual over (under) estimated $ 204,175 The accompanying notes are an integral part of these financial statements. Exhibit Q KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR ENDED JUNE 30 1973 Administration Salaries Superintendent and assistant Secretarial and clerical Office of Business Administration Contracted services Other administrative expenses School Board Association fees Travel Printing and publishing Other Superintendent Travel Printing and publishing Other Office of Business Administration Travel Printing and publishing Other . Equipment rental Total administration Actual over (under) Estimated Actual estimated $ 22 $ 22,920 $ - 14,952 11,857 (3,095) 41,773 42 619 79 77,169 (2,476 1,000 935 (65 3,650 3,294 (356) 3,290 2 (665) 400 830 430 1,000 1 13 2, 539 2, 023 (516) 630 52 (578) 600 604 4 350 350 - 4,000 4,011 11 3,226 3,506 280 970 1,231 261 20 19,539 (1,116 101,300 97,643 (3,657 Exhibit Q Continued KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR ENDED JUNE 30, 1973 Actual over (under) Estimated Actual estimated Instruction 15,674 125 Travel 1 1,508 158 Salaries 1,851 71 Total attendance 18,679 19 354 Principals $ 129,011 $ 128,880 $ (131) Supervisors and consultants 40,978 35,296 (5,682) Teachers Regular classroom 1, 551, 076 1,556,457 5,381 Special education 164,814 166 1,851 Substitute 36,720 40,451 3,731 Extra - curricular 9,323 12 3,585 Sabbatical leave 13,524 13,524 - Speech and hearing 27,775 27 10 Remedial reading 53,880 53,574 (306) Librarian and medical center director 65,255 65,466 211 Guidance 68 68,354 206 Secretarial and clerical 52,178 51,561 (617) Teacher aides 97,874 101,289 3,415 Textbooks 22 22 442 Library and audio visual Library books 16,889 14 (2,234) Periodicals and newspapers 2,162 1 (221) Audio visual materials 12,036 10,056 (1,980) Other library 4 3,841 (583) Teaching supplies 81 79 (1,952) Other supplies 2,637 4,700 2,063 Travel 7 6,818 (671) Project FISH 22 23,613 1,613 Miscellaneous 21 19 (2,168 Total instruction 2,503,571 2 5,963 Attendance Salaries 15,549 15,674 125 Travel 1 1,508 158 Other 1,780 1,851 71 Total attendance 18,679 19 354 Exhibit O Continued KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR ENDED JUNE 30, 1973 Operation of plant Salaries 127,206 123,184 Actual Contractual services 1,335 1,186 over (under) Heat for buildings Estimated Actual estimated Health services 53,160 50,801 (2,359) Salaries $ 16 $ 20,311 $ 3,935 Supplies 1,000 807 (193) Travel 100 231 131 Equipment - 187 187 Physical examinations 1,750 677 (1,073 Total health services 19,226 22 2,987 Pupil transportation Contractual services 126,775 131,145 4,370 Operation of plant Salaries 127,206 123,184 (4,022) Contractual services 1,335 1,186 (149) Heat for buildings 79,777 82,927 3 Electricity 53,160 50,801 (2,359) Other utilities 3,000 2,542 (458) Telephone 10,380 10 (91) Custodial supplies 16 26,188 9,959 Operation of vehicles 1,980 3,009 1,029 Other 3,124 1 (1,337 Total operation of plant 296 301,913 5,722 Maintenance of plant Salaries 81,542 76,042 (5, 500) Contractual services, building repair 4,400 3,392 (1,008) Contractual services, equipment repair 16,150 17,458 1,308 Replacement of instructional equipment 20,965 21,014 49 Replacement of non - instructional equipment 10,071 5,440 (4,631) Building repair materials 41,910 56 15,054 Equipment repair materials 5,600 4 (1,315) Building remodeling - Id Harbor 5,000 4 (4) Other 6,000 9 3 Total mainte .r: - of plant 191,638 199,053 71415 Exhibit Q Continued KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR ENDED JUNE 30, 1973 Actual over (under) Estimated Actual estimated Fixed charges Teachers' retirement matching $ 108,655 $ 109,901 $ 1,246 Social security matching 26,834 26,994 160 Insurance Property 30,650 28,281 (2,369) Employee 57,121 52 (5,084) Liability 700 563 (137) Fidelity bond 982 982 - Rental of buildings 4,300 2 -(2,050 Total fixed charges 229,242 __- 291 (8,234 Capital outlay Sites 650 597 (53) Building remodeling 100,150 1,167 (98,983) New equipment 67,563 71 4,145 Total capital outlay 168,363 73 (94,891 Debt service Debt service fund contributions Principal 45,000 45,000 - Interest 44,350 44 - Fiscal agent's fee 286 272 (14 Total debt service 89,636 89 (14 Exhibit 4 Continued KODIAK ISLAND BOROUGH SCHOOL DISTRICT - GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES YEAR ENDED JUNE 30 1973 The accompanying notes are an integral part of these financial statements. Actual over (under) Estimated Actual estimated Supplemental instruction ESEA Title I Reading $ 6,172 $ 5,727 $ (445) Mission 6,172 5,915 (257) District 3,795 3 (276) Old Harbor - 261 261 ESEA Title li Basic 2. 250 2 13 Special purpose - 52 52 ESEA Title III Basic 109 102 (6,759) Mini grant - intertidal 1,159 1 53 Mini grant - surveying 994 965 (29) ESEA Title IV A, early childhood 66 106 39 ESEA Title V A 17,000 15,926 (1,074) ESEA Title VI mini grant 493 270 (223) Johnson O'Malley, reading specialist 16,000 16,000 - State career awareness and education 5,460 5,096 (364 235,279 266,041 30,762 Other expenditures Contribution to School Lunch Fund 15,000 1.7,668 2,668 Contributions to Student Activity Funds 23,982 23,856 (126) Community services 48 45,362 (3,266) Public Employment Program - 62,227 62 87,610 149,113 61,503 $ 4,067,510 $ 4,079,790 $ 12 The accompanying notes are an integral part of these financial statements. Exhibit R KODIAK ISLAND BOROUGH SCHOOL LUNCH FUND BALANCE SHEET JUNE 30, 1973 ASSETS Cash Receivables Inventory, at estimated cost LIABILITIES AND FUND BALANCE Payroll taxes accrued and withheld Due to School District General Fund Total liabilities Reserve for encumbrances Fund balance Restricted Unrestricted $ 4,506 $ 14,248 7,935 6,047 $ 28,230 a -- $ 2,226 10,273 12,499 11,225 4,506 $ 28,230 The accompanying notes are an integral part of these financial statements. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Exhibit S KODIAK ISLAND BOROUGH SCHOOL LUNCH FUND STATEMENT OF CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1973 Balance, July 1, 1972 Add Revenues Transfer from unrestricted fund balance Deduct Expenditures Transfer to restricted fund balance Prior year adjustments Balance, June 30, 1973 Total Unrestricted Restricted $ 1,600 $ - $ 1 120,838 117,463 3 1,131 - 1,131 121,969 117 4 113,319 113,319 - 1 1 - 4,613 3,013 1 119 117 1,600 $ 4,506 $ 4,506 The accompanying notes are an integral part of these financial statements. 1 1 1 1 1 1 1 1 1 1 1 1 1 KODIAK ISLAND BOROUGH SCHOOL LUNCH FUND STATEMENT OF REVENUES YEAR ENDED JUNE 30, 1973 Food sales Food commodities donated by Federal government Contribution from Federal government for food expenditures Contribution from the State of Alaska for non -food expenditures Contribution from School District General Fund r The accompanying notes are an integral part of these financial statements. Exhibit T $ 54,637 13,807 31,351 3,375 17,668 120, 838 Exhibit U KODIAK ISLAND BOROUGH SCHOOL LUNCH FUND STATEMENT OF EXPENDITURES YEAR ENDED .JUNE 30, 1973 Cost of food purchased and donated Salaries Social Security matching Equipment New Replacement Other F, $ 67,904 40,483 2,271 221 427 2,013 $ 113,319 The accompanying notes are an integral part of these financial statements. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Cash Checking account Savings account Fund balance KODIAK ISLAND BOROUGH STUDENT ACTIVITY FUNDS BALANCE SHEET JUNE 30, 1973 ASSETS FUND BALANCE The accompanying notes are an integral part of these financial statements. Exhibit V $ 6,219 10,000 $ 16,219 $ 16,219 Q s X W O u p i d U C O. O O C � � U- 4� d w N iz't00 %0 mmto100�10 O O LO "t O N N v M v 00 �t NN 01� N O i' O.- O It ti 1 N 1 v I 1 1 r NO •- N 00 01% Ol LO �t L cnNMN O1 M .-- co N M .- M 40 O N.oOl- LO NOW LO O. 10 h N�o00000 N O% M M C") M M to %O O- M %O M N O M N`t 0.MC`M0 LoW-0 o0 mot' N LO m 0% 00 M 0- 10 o N Nt N N `t O% 1 1 1 vv 1 1 M .- Lf') O O M N 04 N 1 1 ► ► ► .- N Ul)a0 00Ol O M l 1 ► ► � N N N N LAO ONN'qt 'o O 00 M L. d N a -a m a a O -0 O U H Q _� O U a�� T+ w C U �n .0 C C �� Q �- C H N�1� nn��n V Q N OO cn Q- 1 w3:CsUU =U 0 C C N • C a C (V N _c +- C C C 0 _L4- C O C E o 0 U i U 6 ° a a� s r N O L C . N N uj W X W LL. � N r N U- r W 7 ►� C ce O� N D Z U Z '- ce 0 1+ m J Q M N U r W CO 0- W Z C a = r- a 5 0 gQ U ►D �, � o .� ^I �- -, `r' r Z W o LL. Y Z Z Z Q W W In > W W O crn w Z w LL. Q } Oz r U Z o W Z Q W r Q r N iz't00 %0 mmto100�10 O O LO "t O N N v M v 00 �t NN 01� N O i' O.- O It ti 1 N 1 v I 1 1 r NO •- N 00 01% Ol LO �t L cnNMN O1 M .-- co N M .- M 40 O N.oOl- LO NOW LO O. 10 h N�o00000 N O% M M C") M M to %O O- M %O M N O M N`t 0.MC`M0 LoW-0 o0 mot' N LO m 0% 00 M 0- 10 o N Nt N N `t O% 1 1 1 vv 1 1 M .- Lf') O O M N 04 N 1 1 ► ► ► .- N Ul)a0 00Ol O M l 1 ► ► � N N N N LAO ONN'qt 'o O 00 M L. d N a -a m a a O -0 O U H Q _� O U a�� T+ w C U �n .0 C C �� Q �- C H N�1� nn��n V Q N OO cn Q- 1 w3:CsUU =U 0 C C N • C a C (V N _c +- C C C 0 _L4- C O C E o 0 U i U 6 ° a a� s r a L O) r C (L) •c (D L O o_ N ,a } U O C C a C C d C N $ s EL O O U o L c m a s ^ ^'�O`O. -cVm0^ NC)MNO try 3 N D a- M •U Cf OvN1ONN N •-MN NMOlNM1O w 00 _ C O 1 •�• •-- ^ N .- 000 LO �- .- . C O` d � ^ X O C� eA Lu LL tc) .. .� . . 11 1 1 1 1 N N 1 1 1 1 1 v 1 v 1 1 1 1 1 1 ti C t� H N i Lo OCMM N a tt• - NC> Nco O`00 OOC"M 0000N NtnLO Z tTN •- O .- O N C ► ► ► 1 I N r-- ^ 1 1 ► ► r- 1 1 M ^ 1 N O c X 4^ W LL W N Z 1= LL 4A O .- Ol LO 11, a O d O- N M d O N ^ tr) N .Q O O N i- W O— �-- N LO N �Q (V ►Q = I N^ I I 1 ► 1 ► 1 1 1 V ui W W O1 O Z ZZ ^ �- In ° m H W m W �O O O� �t �O �O r- N M N M I LO .-- m O GO M 10 0 > XD Z a U ^N MAN 00%OMN , --000D vl, M� 'O LO F- W Z 1 1 Q Z J V Q ► = W _ N ' •- t/ f W W i,H f- D Z 0 Li Z Z— Z Q Q W W > W O H �Z w �L LL. Q } Oz �u Zo W W Q O F- H ' 1 N y L N c - O Q _ W o • U •O . o m w a� J y V Q w N 4A N -0 Q s O a _O V � -a L d L O O O E� � c V� U D �•- -� Q a _ �n L� ,� � N L N> �, U E U N O �_ E O— w= S Q— > O O > S O C •= E N V O V Q J y O L, L L H �} 00 L C-co N Q 1 V D LL 0 L!_ LL. V� Z Li C V ><> u V Z J a L O) r C (L) •c (D L O o_ N ,a } U O C C a C C d C N $ s EL O O U o L c m a s a H t� a D U . U Q h ui D h to a� v } M ,$ as C � � tL 1L1 v .- N M 1* lot C � N .Q 4^ 1 vglr O V V h CD M �t N 4R .6R � rs d + ti.r C .A. 'C3 c t!7 uj 4L CL X LL- tiJ t/7 h .n W 0 � U w C4) C? ZQ LLJ m LU Z 4) u c .--, to u- LU ~ c w :5 Z 0 Z ,i tr, uJ ` w Cke Z U- Q 0= I-- t.3 Z o � Z Q LU h Q I-- to 1* lot C � N .Q 4^ 1 vglr O V V h CD M �t N 4R .6R Aot* 1 40%. � 'ct + ti.r C .A. „" try ►:f) Aot* 1 40%. c., cs L O C CL 1 A L N a C (D 1; + Qj ce LU L •� c C � +� N t L H + t) 4 0 c ° c rnt►- c � c � 9 v v a at CL s 1— � O N 1 ti.r N 0 .A. ., c., cs L O C CL 1 A L N a C (D 1; + Qj ce LU L •� c C � +� N t L H + t) 4 0 c ° c rnt►- c � c � 9 v v a at CL s 1— Exhibit X ' KODIAK ISLAND BOROUGH TOBACCO TAX FUND BALANCE SHEET ' JUNE 30, 1973 ASSETS ' Cash $ 145 FUND BALANCE Fund balance $ 145 J I The accompanying notes are an integral part of these tinancial statements. Exhibit Y KODIAK ISLAND BOROUGH TOBACCO TAX FUND STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE YEAR ENDED JUNE 30 1973 Revenue State of Alaska, revenue - sharing Expenditures Contribution to School District General Fund for debt service Excess of revenues over expenditures . Fund balance at beginning of year Fund balance at end of year $ 67,427 67,427 145 $ 145 The accompanying notes are an integral part of these financial statements. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 KODIAK ISLAND BOROUGH CAPITAL PROJECTS FUNDS BALANCE SHEET JUNE 30, 1973 ASSETS Cash, including $1,660,856 temporary cash investments Federal grant receivable Due from School District General Fund Due from General Fund Accrued interest receivable LIABILITIES AND FUND BALANCE Due to Debt Service Fund balance M The accompanying notes are an integral part of these financial statements. Exhibit Z $ 1,894,082 1,600 15,580 26,922 20,781 $ 1,958,965 a $ 30,252 1,928,713 $ 1,958,965 1 ' KODIAK ISLAND BOROUGH ' CAPITAL PROJECTS FUNDS STATEMENT OF CHANGES IN FUND BALANCE ' YEAR ENDED JUNE 30, 1973 Balance, July 1, 1972 Prior period adjustment Planning advance received from Housing and Urban Development Agency recorded as income for the year ended June 30, 1971 Balance, July 1, 1972 after prior period adjustment Add revenues ' Deduct expenditures and transfers Balance, June 30, 1973 Restricted for: Kodiak High School Ouizinke School Hospital improvements Exhibit AA $ 543,616 93,000 450,616 4,179,855 4,630,471 2,701,758 $ 1,928,713 $ 1,826,422 38,147 64,144 $ 1,928,713 The accompanying notes are an integral part of these financial statements. ' KODIAK ISLAND BOROUGH CAPITAL PROJECTS FUNDS ' STATEMENT OF REVENUES ' YEAR ENDED JUNE 30 1973 ' Educational facilities Kodiak High School t Kodiak Proceeds from general obligation bonds for High School construction Contribution from General Fund Ouzinkie High School Contribution from General Fund Hospital Contribution from General Fund Interest income ' The accompanying notes are an integral part of these financial statements. Exhibit BB $ 4 12,000 4,000 64,144 99,711 $ 4,179,855 Exhibit CC KODIAK ISLAND BOROUGH CAPITAL PROJECTS FUNDS STATEMENT OF EXPENDITURES YEAR ENDED JUNE 30, 1973 Educational facilities Kodiak High School Architectural fees Construction costs Bonding costs Additional construction costs Ouzinkie School Construction costs Equipment Interest expense Additional construction costs Other Contribution to Debt Service Fund Contribution to General Fund $ 59,038 2,129,964 15,062 22,019 245,672 4,941 1,511 1,174 122,666 99,711 $ 2,701,758 The accompanying notes are an integral part of these financial statements. Exhibit DD KODIAK ISLAND BOROUGH DEBT SERVICE FUND BALANCE SHEET JUNE 30, 1973 ASSETS Cash - certificates of deposit $ 105,000 Due from Capital Projects Fund 30,252 Accrued interest receivable 2 $ 137,985 LIABILITIES AND FUND BALANCE Due to General Fund $ 2,733 Fund balance 135,252 $ 137,985 The accompanying notes are an integral part of these financial statements. Exhibit EE KODIAK ISLAND BOROUGH DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1973 Balance, June 30, 1973 $ 135,252 $ 30,252 $ 105,000 The accompanying notes are an integral part of these financial statements. Total Schools Hospital Balance, July 1, 1972 $ 90,000 $ - $ 90,000 Revenues General Fund Contributions Principal 15,000 - 15,000 Interest 14,625 - 14,625 School District General Fund Contributions Principal 45,000 45,000 - Interest 44,350 44,350 - Fiscal agent's fees 272 272- - Capital Projects Funds Contributions Interest 122,666 122,666 - Interest on deposits 6,083 - 6 247,996 212,288 35,708 Expenditures Principal 45,000 45,000 - Interest 151,389 136,764 14 Fiscal agent's fee 272 272 - Contribution to General Fund 6,083 - 6,083 202,744 182,036 20,708 Balance, June 30, 1973 $ 135,252 $ 30,252 $ 105,000 The accompanying notes are an integral part of these financial statements. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 KODIAK ISLAND BOROUGH STATEMENT OF GENERAL LONG -TERM DEBT JUNE 30, 1973 AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG -TERM DEBT Term bonds Amount available in Debt Service Fund Amount to be provided Total, Term Bonds Serial bonds Amount to be provided GENERAL LONG -TERM DEBT PAYABLE Term bonds payable Serial bonds payable The accompanying notes are an integral part of these financial statements. Exhibit FF $ 105,000 195,000 300,000 4,900,000 $ 5,200,000 $ 300,000 4,900,000 $ 5,200,000 KODIAK ISLAND BOROUGH COMBINED SCHEDULE OF BONDS PAYABLE JUNE 30, 1973 General Obligation Bonds Interest rates Issue and dates date 3.625% (3/1; 9/1) 3/1/65 3.875% (3/1; 9/1) 3/1/65 5.75% 3/1; 9/1) 1/1/67 5.00% (3/1; 9/5) 111167 4.875% (1111;517) 5/1/67 6.75% (8/1;2/1) 8/1/72 6.75% 50,000 1980 -1988 6.75% None - 6.75% 115,000 1974 6.75% 120,000 1975 6.75% 130,000 1976 6.75% 140,000 1977 6.75% 150,000 1978 5.6% 160,000 1979 5.6% 170,000 1980 5.7% 180,000 1981 5.8% 190,000 1982 5.9% 200,000 1983 6.0% 210,000 1984 6.1% 225,000 1985 6.1% 240 1986 6.1% 255,000 1987 6.1% 270,000 1988 5.5% 285,000 1989 Final maturity Annua I date serial payments 3/1/79 $ 20,000 1973 -1978 25,000 1979 3/1/85 25,000 1980 -1985 9/1/79 25,000 1973 -1978 50,000 1979 9/1/88 50,000 1980 -1988 5/1/87 None - 8/1/81 115,000 1974 120,000 1975 130,000 1976 140,000 1977 150,000 1978 160,000 1979 170,000 1980 180,000 1981 190,000 1982 200,000 1983 210,000 1984 225,000 1985 240 1986 255,000 1987 270,000 1988 285,000 1989 300,000 1990 320,000 1991 340,000 1992 School building Hospital building School building The accompanying notes are an integral part of these financial statements. 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 Exhibit GG $ 5,550,000 $ 5,515,000 $ 315,000 $ 5,200,000 $ 105,000 $ 105,000 $ - Fund Balance - Term Bonds Bonds Over (under) Authorized Issued Retired Outstanding Requirement Actual requirement $ 350,000 $ 315,000 $ 190,000 $ 125,000 $ - $ - $ - 150,000 150,000 - 150,000 - - - 300,000 300,000 125,000 175,000 - - - 450,000 450,000 - 450 - - - 300,000 300 - 300 105 105,000 - 4,000,000 4,000,000 - 4,000,000 - - - $ 5,550,000 $ 5,515,000 $ 315,000 $ 5,200,000 $ 105,000 $ 105,000 $ - 1 11 1 11 n 1 u KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS JUNE 30, 1973 1. ACCOUNTING POLICIES OF KODIAK ISLAND BOROUGH Records of the Kodiak Island Borough General Fund, Mental Health Center, Fire District Fund, School District General Fund, School Lunch Fund and Tobacco Tax Fund are maintained on the accrual basis. Encumbrances, representing orders placed prior to the fiscal year end for goods or services riot delivered at year end, are recorded only by the School District General Fund, and are included in expenditure categories in the accompanying financial statements as follows: Administration School board - expense $ 372 Office of Business Administration - printing and publishing 634 Instruction Textbooks 1,242 Library and audio visual Library books 218 Periodicals and newspapers 223 Audio visual materials 141 Other library 91 Teaching supplies 5,241 Other supplies 448 Project FISH 144 Miscellaneous 752 Attendance services 123 Pupil transporation - field trips 795 Operation of plant Custodial supplies 11,688 Operations of vehicles 698 Maintenance of plant Contractual services, equipment repair 3,758 Replacement of instructional equipment 7,753 Replacement of nor. - instructional equipment 2,089 Repair materials 14,201 KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) JUNE 30, 1973 1. ACCOUNTING POLICIES OF KODIAK ISLAND BOROUGH (Continued) Capital outlay - new equipment $ 31,256 Supplemental instruction ESEA Title I Mission $ 3,514 District 723 ESEA Title 11, Basic 2,219 ESEA Title 111 Salaries 91 Mini grant - intertidal 210 Career Ed - vocational 1,352 Other encumbrances 55 $ 90,031 The Land Sales Fund is used to account for proceeds from the sale or lease of Borough lands administered by the Borough or the Division of Lands, State of Alaska. Sales administered by the Borough are accounted for on the accrual basis. Sales administered by the Division of Lands are accounted for on a modified accrual basis in that the Borough does not record the amount receivable on unpaid land purchase contracts or leases, but does record the amount collected by the State but not remitted to the Borough. Student Activity Funds are accounted for on a cash basis. Accounting responsibility of the Student Activity Funds of East Elementary, Main Elemen- tary and the junior high school are handled by the respective schools. Accordingly, the accompanying financial statements do not include the activities of those funds for the year ended June 30, 1973. The Debt Service Fund is accounted fol on a modified accrual basis, with all assets and liabilities reflected other than non - matured interest coupons on bonds. ' The financial statements of the Capital Projects fund do not reflect liabilities for work completed but unbilled or completed but not accepted in amounts aggregating approximately $350,000. 1 ! KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS ' (Continued) JUNE 30, 1973 i 2. FIXED ASSETS The accompanying financial statements doe not include statements of ' general fixed assets acquired by the Borough. In addition, the Borough has received selection rights to certain lands, portions of which have been selected and received, portions of which selection applications are pending ' and portions of which remain unselected. Such selection rights are not reflected in the accompanying financial statements. 3. BOROUGH GENERAL FUND, RESERVE FOR HOSPITAL OPERATIONS ' The Borough assembly has elected to establish a contingency reserve for hospital operations in the amount of $30,000 funded out of regular budget appropriations. 4. GRANTS AND CONTRACTS RECEIVABLE ' Federal and State grants approved but unexpended for specified purposes are recorded as accounts receivable of the School District General Fund, ' the School Lunch Fund, and the Capital Projects Fund. The accompanying .the statements reflect restricted fund balances in the amount by which the approved grant exceeded project expenditures at year end. Receipt of ' such funds is contingent on timely expenditure of the funds for project purposes. In addition to restricted fund balances imposed by a grantor the following restricted fund balances have been imposed by action of the Borough Assembly: Kodiak Island Borough General Fund Reserve for hospital operations $ 30,000 Reserve for working capital $ 30,000 Land Sales Fund Reserve for survey and appraisal expense $ 53 Reserve for municipal building $ 861000 KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) JUNE 30, 1973 5. CONTINGENT LIABILITIES The Borough leases to the Grey Nuns of the Sacred Heart certain hos- pital buildings for an annual rental of $1.00. The lease expires December 31, 2023. Under the terms of the lease, the Borough has agreed to make up any deficit incurred by the lease resulting from the operation of the hospital in an amount not to exceed 75% of the previous year's uncollected accounts receivable. These receivables must be assigned to the Borough for collection. Audited financial statements of the hospital as of December 31, 1972 show a net loss of the year of $36,945. Accounts receivable are shown at $180 net of a provision for doubtful accounts of $26,357.