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CAFR FY1975KODIAK ISLAND BOROUGH Financial Statements June 30, 1975 (With Accountants' Report Thereon) Mitch • Z �� KODIAK ISLAND BOROUGH Table of Contents Accountants' report Exhibit Combined Balance Sheet, Various Funds A Borough - General Fund: Balance Sheet B Statement of Changes in Fund Balance C Statement of Estimated and Actual Revenues D Statement of Budgeted and Actual Expenditures E Federal Revenue Sharing Fund: Balance Sheet F Statement of Revenues, Expenditures and Changes in Fund Balance G Land Sales Fund: Balance Sheet H Statement of Revenues, Expenditures and Changes in Fund Balance I Fire District Fund: Balance Sheet J Statement of Estimated and Actual Revenues and Expenditures and Changes in Fund Balance K f School District - General Fund: Balance Sheet L Statement of Changes in Fund Balance M Statement of Estimated and Actual Revenues N Statement of Budgeted and Actual Expenditures 0 School District - Special Revenue Funds: Combined Balance Sheet Combined Statement of Revenues, Expenditures and Changes in Fund Balance Q Elementary and Secondary Education Act Balance Sheets R Elementary and Secondary Education Act Statements of Revenues, Expenditures and Changes in Fund Balances S Vocational Education Balance Sheets T Vocational Education Statements of Revenues, Expenditures and Changes in Fund Balances U School District - Cafeteria Fund: Balance Sheet V Statement of Revenues, Expenditures and Changes in Fund Balance W (Continued) 2 KODIAK ISLAND BOROUGH Table of Contents, Continued Exhibit School District - Tobacco Tax Fund: Balance Sheet X Statement of Revenue, Expenditure and Changes in Fund Balance Y School District - Student Activity Funds: Balance Sheets Z Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) AA Kodiak Aleution Mental Health Center: Balance Sheet BB Statement of Changes in Fund Balance CC Statement of Revenues and Expenditures DD Debt Service Fund: Balance Sheet EE Statement of Revenues, Expenditures and Changes in Fund Balances FF Capital Projects Funds: Balance Sheet GG Statements of Revenues, Expenditures and Changes in Fund Balances HH General Long -Term Debt: Statement of General Long -Term Debt II Combined Schedule of Bonds Payable JJ Notes to Financial Statements PEAT, MARWICK, MITCHELL & CO. CERTIFIED PUBLIC ACCOUNTANTS ALASKA MUTUAL BANK BUILDING 601 WEST 5TH AVENUE, SUITE 700 ANCHORAGE, ALASKA 99501 Members of the Borough Assembly Members of the School Board Kodiak Island Borough: We have examined the financial statements of the various funds and the general long -term debt group of accounts of the Kodiak Island Borough for the year ended June 30, 1975, listed in the foregoing table of contents. 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 con- sidered necessary in the circumstances. The Borough has not maintained a record of its general fixed assets and accord- ingly a statement of general fixed assets, required by generally accepted accounting principles, is not included in the financial report. In our opinion, the financial statements listed in the aforementioned table of contents present fairly the financial position of such funds and the general long- term debt group of accounts of the Kodiak Island Borough at June 30, 1975, and the results of operations of such funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. September 9, 1975 KODIAK ISLAND BOROUGH Combined Balance Sheets, Various Funds June 30, 1975 Assets Cash: Restricted Unrestricted Property taxes receivable, net Notes receivable from land sales Due from City of Kodiak Receivables from State of Alaska Receivables from Federal Government Due from Kodiak Area Natives Association Advances to hospital Other receivables Due from other funds Inventories, at cost Furniture and equipment, at cost Amount available for retirement of term bonds Amount available for retirement of serial bonds Amount to be provided for retirement of bonds Liabilities. Encumbrances and Fund Balance Accounts payable Payroll taxes and retirement withheld and accrued Bonds payable Other liabilities Due to other funds Encumbrances outstanding Fund balance: Appropriated Unappropriated Total fund balance Federal Revenue General Sharing Fund Fund $ 60,000 38,941 296,723 - 73,072 - 42,764 - 28,545 - - 4,387 16,537 - 2,065 - 75,505 - $ 595,211 43,328 30,647 - 5,263 - 114,589 29,464 834 - 145,000 - 298,878 13,864 443,878 13,864 $ 595,211 43,328 See accompanying notes to financial statements. - School School 13,277 223 - 1,274 10,223 - 15,245 - - - Fire District Special School Tobacco Student Mental Debt Capital General District General Revenue Cafeteria Tax Activities Health Service Projects Long -term Fund Fund Funds Fund Fund Fund Center Fund Fund Debt - - - 3,911 145 24,269 45,863 135,000 70,960 - - 68,673 - - - - - - - - - 55,007 105,901 - - - - - - - - 36,170 137,141 - - - 1,578 - 1,600 - - - 87,417 - - - - - - - - 20,072 612 8,553 - - 2,786 2,900 - - 5,974 322,870 - - - - - 30,252 117,194 - - 24,884 - 48,145 - - - - - - - - - - - - 16,439 - - - - - - - - - - - - 135,000 - - - - - - - - - 30,252 - - - - - - - - - 4,439,748 5,974 527,676 331,071 60,609 145 24,269 66,666 168,152 189,754 4,605,000 - - 46,941 13,277 223 - 1,274 10,223 - 15,245 - - - 219,714 - .4,411 - - 2,922 - - - - - - - - - - - - - 4,605,000 - - 14,111 - - - - - - - - 21,000 - 70,820 297,583 4,183 - - 1,889 2,900 30,252 - - - 41,233 20,211 - - 2,834 - - - - 139,690 - 117,743 - - - - 16,439 - 144,257 - 572,572 5,974 17,114 - 51,792 145 20,161 35,193 165,252 - - 712,262 5,974 134,857 - 51,792 145 20,161 51,632 165,252 144,257 - 733,262 5,974 527,676 331,071 60,609 145 24,269 66,666 168,152 189,754 4,605,000 KODIAK ISLAND BOROUGH General Fund Balance Sheet June 30, 1975 Assets Cash: Unrestricted Restricted for hospital operations (note 3) Total cash Property taxes receivable: Real Personal Less allowance for uncollectible taxes Net property taxes receivable Due from State of Alaska Due from City of Kodiak Due from hospital Due from other funds: Kodiak Aleutian Mental Health Center Fund School District General Fund Debt Service Fund Total due from other funds Accrued interest receivable $ 52,791 32,281 85,072 12,000 1,785 70,820 2,900 $ 296,723 60,000 356,723 73,072 28,545 42,764 16,537 75,505 2,065 $ 595,211 See accompanying notes to financial statements. Exhibit B Liabilities, Encumbrances and Fund Balance Accounts payable Payroll taxes accrued and withheld Due to other funds: Fire District Fund Land Sales Fund Capital Projects Fund Total due to other funds Total liabilities Encumbrances outstanding Fund balance: Appropriated: 1975 -76 operating expenditures Hospital operations (note 3) Working capital Total appropriated fund balance Unappropriated Total fund balance Commitment (note 3) $ 5,974 20,885 87,730 50,000 60,000 35.000 145,000 298,878 $ 30,647 5,263 114,589 150,499 834 443,878 $ 595,211 Year ended June 30, 1975 Fund balance, July 1, 1974 $ Adjustment to establish Federal Revenue Sharing Fund Fund balance, July 1, 1974, as restated Add revenues Deduct expenditures Transfer to appropriated fund balance Fund balance, June 30, 1975 - (85,000 30,000 5,000 - 50,000 $ 443,878 298,878 60,000 35,000 - 50,000 See accompanying notes to financial statements. Appropriated Federal 1975 -76 Unap- Hospital Working revenue operating Total propriated operations capital sharing expenditures 267,501 160,446 30,000 30,000 47,055 - (52,828 (5,773 - - ( 47,055 ) - 214,673 154,673 30 1 000 30,000 - - 957,874 957,874 - - - - 1,172,547 1,112,547 30,000 30,000 - - 728,669 728,669 - - - - 443,878 383,878 30,000 30,000 - - - (85,000 30,000 5,000 - 50,000 $ 443,878 298,878 60,000 35,000 - 50,000 See accompanying notes to financial statements. Exhibit D KODIAK ISLAND BOROUGH General Fund Statement of Estimated and Actual Revenues Year ended June 30, 1975 Actual over (under) Estimated Actual estimated Real and personal property taxes $ 532,861 603,630 70,769 Penalty and interest on taxes 5,000 9,145 4,145 Licenses and permits: Building and trailer permits 3,000 3,026 26 Subdivision fees 500 620 120 3,500 3,646 146 Revenues from use of money and property: Interest 11,500 24,158 12,658 Rent from leased land 9,000 7,737 (1,263) Forestry 3,000 4,360 1,360 Office building expense reimbursement 16,900 30,807 13,907 Miscellaneous reimbursement of costs 2,000 2,044 44 r 42,400 69,106 26,706 Revenues from State of Alaska: Local service roads 150,000 8,494 (141,506) Raw fish tax 58,000 54,039 (3,961) Business license refund 24,000 4,141 (19,859) Electric co- operative tax 5,000 7,456 2,456 Amusement and gaming device refund 50 - (50) Shared revenues: Hospital 57,850 57,874 24 Land use planning 15,335 15,335 - Health facilities 28,925 38,157 9,232 339,160 185,496 ( 153,664 ) H.U.D. planning grant 12,000 3,066 (8,934 Contribution of interest from other funds: Capital Projects Fund 10,000 3,876 (6,124) Debt Service Fund 18,000 13,105 (4,895) Land Sales Fund 114,844 66,804 (48,040 142,844 83,785 (59,059) $ 1 957,874 ( 119 1 891 ) See accompanying notes to financial statements. Exhibit E KODIAK ISLAND BOROUGH General Fund Statement of Budgeted and Actual Expenditures Year ended June 30, 1975 Actual over (under) Budgeted Actual budgeted Borough assembly: Assembly travel $ 8,600 3 (5,472) Assembly compensation 3,000 1,200 (1,800 11,600 4,328 (7,272 Legal department: Borough attorney 10,000 11,492 1,492 Court costs 500 376 (124) Litigation allowance 2,000 873 (1,127 12,500 12,741 241 Capital expenditures: Furniture and fixtures 1,500 2,105 605 Office machines 2 704 (1 3,500 2,809 (691 General government operations: Employee expense: Salaries: Chairman 10,000 500 (9,500) Finance director 40,000 - (40,000) Clerk- treasurer 16,850 18,068 1,218 Secretary 8,700 9,290 590 Cashier- bookkeeper 13,200 11,671 (1,529) Clerk typist 7,668 8,862 1,194 Extra help 2,000 1,064 (936) Chairman's expense 2,000 1,103 (897) Employment security taxes 1,400 1,064 (336) Social security taxes 5,000 5,911 911 Insurance and bonding 2,000 1,708 (292) Group insurance 1,800 714 (1,086) Professional development training 800 265 (535) Publications and dues 3,925 3,588 (337) Publication of hearings 1,700 3,316 1,616 Postage 2,500 1,742 (758) Office supplies 3,500 5,489 1,989 Telephone and telegraph 2,000 2,122 122 Repairs and maintenance of machines 4,900 5,848 948 Transportation and travel 3,000 3,328 328 Carried forward 132,943 85,653 (47,290 2 KODIAK ISLAND BOROUGH General Fund Exhibit E, Cont. Statement of Budgeted and Actual Expenditures, Continued Brought forward Vehicle operation and maintenance Post audit Elections Contractual services Assessment department: Salaries: Director Assessor II Administrative assistant Clerk typist Overtime Professional development and training Professional services Contractual services Advertising Printed matter and forms Subscriptions and books Office supplies Repairs and maintenance Transportation and travel Rentals - vehicles and aircraft Telephone and telegraph Planning and zoning commission: Planner Building inspector Building inspector travel expense Engineering services Contractual services Advertising Maps Operating expenses Snow removal Local service roads and trails Actual over (under) Budgeted Actual budgeted $ 132,943 85,653 (47,290) 1,200 1,025 (1,750) 13,200 18,789 5,589 5,500 3,740 (1,760) 10,000 5,898 (4,102 162 115,105 (47,738 18,630 4,110 (14,520) 15,246 16,566 1,320 8,808 9,326 518 7,407 3,883 (3,524) 300 152 (148) 740 305 (435) 1,000 389 (611) 4,000 274 (3,726) 550 1,260 710 2,200 1,230 (970) 400 305 (95) 1,200 1,340 140 200 - (200) 1,200 606 (594) 3,200 975 (2,225) 200 16 (184 65,281 40,737 (24,544 12,500 8,459 (4,041) 13,000 9,043 (3,957) 3,450 1,697 (1,753) 2,700 1,596 (1,104) 10,335 3,138 (7,197) 1,600 467 (1,133) 900 187 (713) 2,800 446 (2,354) 2,000 4,000 2,000 150,000 9,650 ( 140,350 ) 199,285 38,683 ( 160,602 ) (Continued) 3 Exhibit E, Cont. KODIAK ISLAND BOROUGH General Fund Statement of Budgeted and Actual Expenditures, Continued Actual over (under) Budgeted Actual budgeted Health and sanitation: Reserve for hospital operations $ 60,000 - (60,000) Health expenses 500 - (500) Comprehensive health board 2,600 9,840 7,240 Senior citizens 3,000 3,000 - Support of Halfway House 13,884 13,884 - Support of Health Clinic 12,948 12,000 (948) Support of Detoxification Center 12 10,413 (1,600) Hospital bonds fiscal agent fees 200 118 (82 105,145 49,255 (55,890 Office building expenses: Maintenance 6,000 9,700 3,700 Janitorial 5,000 12,220 7,220 Utilities 18,000 12,467 (5,533) Major repairs 13,850 1,070 (12,780) Insurance 2 165 (2,235 45,250 35,622 Debt Service Fund contributions: Principal 15,000 Interest 14,660 29,660 Capital Projects Fund contributions 120,617 Support of Kodiak Island Schools 375,000 Parks and recreation 25,000 $ 1,155 15,000 - 14,660 - 29,660 - 24,729 (95,888) 375,000 - - (25,000 728,669 ( 427 1 012 ) See accompanying notes to financial statements. Exhibit F KODIAK ISLAND BOROUGH Federal Revenue Sharing Fund Balance Sheet June 30, 1975 Assets Cash Federal Revenue Sharing entitlement receivable Liabilities and Fund Balance Due to Capital Projects Fund Fund balance $ 38,941 4,387 $ 43,328 $ 29,464 13,864 $ 43,328 See accompanying notes to financial statements. Exhibit G KODIAK ISLAND BOROUGH Federal Revenue Sharing Fund Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1975 Revenues: Federal Revenue Sharing entitlement $ 35,478 Interest income 350 Total revenues 35,828 Expenditures: Operations and maintenance: Health 3,866 Public safety 6,057 Capital outlay: Health 35,405 Education 29,464 Total expenditures 74,792 Excess of expenditures over revenues 38,964 Fund balance, July 1, 1974 52,828 Fund balance, June 30, 1975 $ 13,864 See accompanying notes to financial statements. Exhibit H KODIAK ISLAND BOROUGH Land Sales Fund Balance Sheet June 30, 1975 Assets Cash $ 501,332 Notes receivable from land sales 208,955 Due from Borough General Fund 20 Accrued interest receivable 2,090 $ 733,262 Liabilities and Fund Balance Due to School District General Fund 21,000 Fund balance: Appropriated: Survey and appraisal $ 53,690 Municipal building 86,000 139,690 Unappropriated 572,572 Total fund balance 712,262 $ 733,262 See accompanying notes to financial statements. Exhibit I KODIAK ISLAND BOROUGH Land Sales Fund Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1975 Revenues: Land sales Interest income Expenditures: Land sales expel Contribution to Fund balance, July Fund balance, June Total revenues .is es Borough General Fund Total expenditures Excess of expenditures over revenues 1, 1974 30, 1975 $ 3,535 66,804 $ 680 54,271 54,951 70,339 15,388 727,650 $ 712,262 i See accompanying notes to financial statements. KODIAK ISLAND BOROUGH Fire District Fund Balance Sheet June 30, 1975 Assets Due from Borough General Fund Fund Balance Fund balance Exhibit J $ 5,974 $ 5,974 See accompanying notes to financial statements. Exhibit K KODIAK ISLAND BOROUGH Fire District Fund Statement of Estimated and Actual Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1975 Actual over (under) Estimated Actual estimated Revenues: Real and personal property taxes $ 17,733 16,818 (915) State revenue sharing 6,179 8,047 1,868 Other 50 - (50 f 23,962 24,865 903 Deduct expenditures: Contractual fire services 26,868 25,254 (1,614) Equipment maintenance 260 265 5 Other 334 - 334) t 27,462 25,519 ( 1,943 ) Excess of expenditures over revenues 3,500 654 (2,846) Fund balance, July 1, 1974 6,628 6,628 - Fund balance, June 30, 1975 $ 3,128 5,974 ( 2 2 846 ) See accompanying notes to financial statements. Exhibit L KODIAK ISLAND BOROUGH School District General Fund Balance Sheet June 30, 1975 Assets Cash $ 68,673 Accounts receivable: State of Alaska $ 55,007 Federal 36,170 Other 20,072 Total accounts receivable 111,249 Due from other funds: Land Sales Fund 21,000 Kodiak Aleutian Mental Health Center 104 Cafeteria Fund 4,183 School District Special Revenue Funds 297,583 Total due from other funds 322,870 Inventories, at cost (first -in, first -out): Central stores 18,631 Custodial supplies 6 Total inventories 24,884 $ 527,676 Liabilities, Encumbrances and Fund Balance Accounts payable 46,941 Payroll taxes accrued and withheld 145,631 Teacher retirement accrued and withheld 74,083 Due to Borough General Fund 70,820 Accrued annual leave 14,111 Total liabilities 351,586 Encumbrances outstanding 41,233 Fund balance: Appropriated: Classified retirement 33,727 1975 -76 operations 84,016 Total appropriated fund balance 117,743 Unappropriated 17,114 Total fund balance 134,857 $ 527,676 See accompanying notes to financial statements. Exhibit M KODIAK ISLAND BOROUGH School District General Fund Statement of Changes in Fund Balance Year ended June 30, 1975 See accompanying notes to financial statements. Appropriated Future Classified Project Cottage Total Unappropriated operations retirement FISH support Fund balance, July 1, 1974 $ 253,111 448 194,940 15,000 2,723 40,000 Add (deduct) adjustments for: Overstated accounts payable 1,480 1,480 - - - - Overstated encumbrances 23,088 23,088 - - - - Unrecorded cash on hand 16,447 15,000 - 1,447 - - Unrecorded central stores inventory 1,601 1,601 - - - - P. L. 874 receivable 31,812 31,812 - - - - Accrued annual leave (7,020 (7,020 - - - - Fund balance, July 1, 1974, as restated 320,519 66,409 194,940 16,447 2,723 40,000 Transfer for current operations - 237,663 (194,940) - (2,723) (40,000) Add revenues 4,557,152 4,557,152 - - - - 4,877,671 4,861,224 - 16,447 - - Deduct expenditures 4,742,814 4,740,094 - 2,720 - - 134,857 121,130 - 13,727 - - Transfer for future operations - (104,016 84,016 20,000 - - Fund balance, June 30, 1975 $ 134,857 17,114 84,016 33,727 - - See accompanying notes to financial statements. Exhibit N KODIAK ISLAND BOROUGH School District General Fund Statement of Estimated and Actual Revenues Year ended June 30, 1975 Actual over (under) Estimated Actual estimated Revenue from local sources: 3,502,762 3,394,948 (107,814) Kodiak Island Borough: 174,251 171,210 (3,041) Annual appropriation $ 375,000 375,000 - Custodial and office maintenance 28,521 22,496 (6,025) contract 20,600 18,547 (2,053) Rentals: Village teacherages 15,000 11,125 (3,875) K -Hi -C 13,000 9,450 (3,550) High school bonds refunding proceeds 17,786 17,787 1 Admissions to events 5,500 5,451 (49) Tuition - Community College 5,473 2,540 (2,933) Other 4,500 2,510 (1 456,859 442,410 (14,449 Revenue from State sources: Foundation program 3,502,762 3,394,948 (107,814) Tuition 174,251 171,210 (3,041) Pupil transportation 92,101 94,576 2,475 Mini -874 28,521 22,496 (6,025) Debt service reimbursement 219.659 223.000 3.341 4,017,294 3,906,230 ( 111,064 ) Revenue from Federal sources - Federal impact assistance P. L. 874 90,000 144,677 54,677 Transfers from the Tobacco Tax Fund for debt service 62,659 63,835 1,176 $ 4,626,812 4,557,152 (69,660 See accompanying notes to financial statements. Exhibit 0 KODIAK ISLAND BOROUGH School District General Fund Statement of Budgeted and Actual Expenditures Year ended June 30, 1975 (Continued) Actual over (under) Budget Actual budget Administration: Salaries: Superintendent $ 43,750 43,750 - Secretarial and clerical 22,432 21,643 (789) Business administration 78,480 81,443 2,963 i 144,662 146,836 2,174 f Legal fees 2,000 2,720 720 a Other administrative expenses: School Board: Association dues 3,480 3,693 213 X Travel 2,760 2,711 (49) Printing and publishing 400 233 (167) Other 1,000 1 65 Superintendent: Travel 3,560 3,917 357 Printing and publishing 630 650 20 Other 600 636 36 Business administration: Travel 1,400 1,385 (15) Printing and publishing 4,000 3,670 (330) Other 4,672 4,881 209 Equipment rental 5,370 4,513 (857 27,872 27,354 518) Total administration 174,534 176,910 2,376 (Continued) 2 KODIAK ISLAND BOROUGH School District Exhibit 0. Cont. Statement of Budgeted and Actual Expenditures, Continued u (Continued) Actual over (under) Budget Actual budget Instruction: Salaries: Principals $ 136,000 132,185 (3,815) Supervisors and consultants 43,908 47,917 4,009 Teachers: Regular 2,046,938 2,054,491 7,553 Substitute 40,000 40,452 452 Extra - curricular 18,168 17,708 (460) Speech and hearing 34,102 34,102 - Remedial reading 84,520 83,406 (1,114) k Librarian and media center director i 47,779 48,201 422 Guidance counselors 59,949 59,871 (78) Secretarial and clerical 70,489 61,495 (8,994) Teacher aides 149,855 145,361 (4,494) Textbooks 22,270 23,744 1,474 Library and audio visual: Library books 15,590 15,027 (563) Periodicals and newspapers 1,902 1,792 (110) Audio visual materials 15,000 14,900 (100) Other library 3,697 3,367 (330) Teaching supplies 77,375 73,857 (3,518) Other supplies - 7,246 7,246 Travel 11,063 12,542 1,479 Project FISH 15,723 10,181 (5,542) Mini- semester 4,450 3,565 (885) Drivers' education 3,500 499 (3,001) Miscellaneous 35,355 28,487 (6,868 Total instruction 2,937,633 2,920,396 ( 17,237 ) Attendance services: Salaries 8,158 7,489 (669) Other 1,780 2,251 471 Total attendance 9,938 9,740 (198 Health services: Salaries 23,879 21,406 (2,473) Supplies 500 531 31 Travel 100 293 193 Physical examinations 2,100 2,105 5 Total health services 26,579 24,335 (2,244 u (Continued) 3 Exhibit 0, Cont. KODIAK ISLAND BOROUGH School District General Fund Statement of Budgeted and Actual Expenditures, Continued Pupil transportation - contracted services Operation of plant: Salaries Contracted services Heat for buildings Electricity Telephone Other utilities Custodial supplies Operation of vehicles Total operation of plant Maintenance of plant: Salaries Contracted services - building repair Contracted services - equipment repair Replacement of instructional equipment Replacement of noninstructional equipment Building repair materials Other Total maintenance of plant Fixed charges: Teachers retirement matching Social security matching Classified retirement Insurance: Property Employee Liability Fidelity bond Rental of buildings Total fixed charges Capital outlay: Building remodeling New equipment Total capital outlay Actual over (under) Budget Actual budget $ 100,000 104,389 4,389 201,189 212,756 11,567 3,200 3,605 405 124,946 115 (9,778) 100,843 102,683 1,840 20,400 23,528 3,128 8,256 7,069 (1,187) 14,719 9,587 (5,132) 3,600 5,335 1,735 477,153 479,731 2,578 126,224 121,189 (5,035) 3,000 5,493 2,493 10,400 9,519 (881) 11,500 8,761 (2,739) 5,000 4,713 (287) 31,275 38,542 7,267 10,300 7,143 (3,157 197,699 195,360 (2,339 141,778 148,053 6,275 39,637 44,404 4,767 35,000 - (35,000) 25,339 6,465 (18,874) 83,979 89,689 5,710 2 543 (1,667) 992 811 (181) 4,500 4,120 (380 333,435 294,085 ( 39,350 ) 15,000 4,810 (10,190) 19,563 23,248 3,685 34,563 28,058 (6,505 (Continued) 4 Exhibit 0, Cont. KODIAK ISLAND BOROUGH School District General Fund Statement of Budgeted and Actual Expenditures, Continued Debt service: Principal Interest Fiscal agent's fee Total debt service Other expenditures: Contribution to Special Revenue Funds Contribution to Cafeteria Fund Contribution to Student Activity Funds Community services Total other expenditures Actual over (under) Budget Actual budget $ 125,000 125,000 - 215,891 205,070 (10,821) 800 531 (269 341,691 330,601 ( 11,090 ) - 92,849 92,849 33,056 8,640 (24,416) 38,220 45,496 7,276 33,330 29,504 (3,826 104,606 176,489 71,883 $ 4,737,831 4 2,263 See accompanying notes to financial statements. School District Special Revenue Funds Combined Balance Sheets June 30, 1975 See accompanying notes to financial statements. Elementary and Secondary Vocational ERA Boarding Education Act Education Johnson - and NDEA Home Swimming Assets Total Exhibit R Exhibit T O'Malley CETA Title III Program Pool Accounts receivable: State of Alaska $ 105,901 805 28,504 - 14,092 - 62,500 - Federal 137,141 135,069 - - - 2,072 - - Kodiak Area Natives Association 87,417 - - 87,417 - - - - Other 612 - - - - - - 612 $ 331,071 135,874 28,504 87,417 14,092 2,072 62,500 612 Liabilities and Encumbrances Accounts payable 13,277 9,326 85 - - - 2,910 956 Due to School District General Fund 297,583 113,381 25,190 87,197 14,092 1,227 56,840 ( Total liabilities 310,860 122,707 25,275 87,197 14,092 1,227 59,750 612 Encumbrances 20,211 13,167 3,229 220 - 845 2,750 - $ 331 135,874 28,504 87,417 14,092 2,072 62,500 612 See accompanying notes to financial statements. School District Special Revenue Funds Combined Statement of Revenues, Expenditures and Changes in Fund Balances Year ended June 30, 1975 Fund balances, July 1, 1974 Revenues: Transfers from School District General Fund Swimming pool admissions State of Alaska Revenues from Federal sources through the State of Alaska Federal Federal through Kodiak Area Natives Association Expenditures: Student lodging and food Ancillary services - medical Village video programing Port Lions and Ouzinkie study Travel Village data gathering Village cultural enrichment Salaries Program materials Travel and per diem Employee benefits Unclassified expenditures Fund balances, June 30, 1975 See accompanying notes to financial statements. Elementary and Secondary Vocational EEA Boarding Education Act Education Johnson - and NDEA Home Swimming Total Exhibit S Exhibit U O'Malley CETA Title III Program Pool 92,849 54 290 - 3,847 2,123 45,296 41,239 15,039 - - - - - - 15,039 69,826 - - - - - 69,826 - 242,225 141,692 41,073 - 59,460 - - - 2,072 - - - - 2,072, - - 94,853 - - 94,853 - - - - 516,864 141,746 41,363 94,853 63,307 4,195 115,122 56,278 141,392 31,169 - - - - 110,223 - 1,900 1,900 - - - - - - 39,218 39,218 - - - - - - 5,829 5,829 - - - - - - 2,303 254 - - - - 2,049 - 3,441 3,441 - - - - - - 20,464 20,464 - - - - - - 119,930 - - 80,383 - - - 39,547 8,226 - - 8,226 - - - - 1,963 1,698 - 265 - - - - 5,979 - - 5,979 - - - - 166,219 37,773 41,363 - 63,307 4,195 2,850 16,731 516,864 141,746 41,363 94,853 63,307 4,195 115,122 56,278 See accompanying notes to financial statements. School District Special Revenue Funds Elementary and Secondary Education Act Balance Sheets June 30, 1975 Assets Accounts receivable: State of Alaska Federal Liabilities and Encumbrances Elementary and Secondary Education Act Title II Title II Title IV Title VI B Title II Basic Special Indian Title VI B In the Total Title I Basic 75216 -1 Purpose Education Dial 911 Swim $ 805 - - - - - 457 348 135,069 17,576 59 2,183 11,332 103,919 - - $ 135,874 17,576 59 2,183 11,332 103,919 457 348 Accounts payable 9,326 - - - - 9,290 - 36 Due to School District General Fund 113,381 16,479 59 - 10,252 85,822 457 312 Total liabilities 122,707 16,479 59 - 10,252 95,112 457 348 Encumbrances 13,167 1,097 - 2,183 1,080 8,807 - - $ 135,874 17,576 59 2,183 11,332 103,919 457 348 See accompanying notes to financial statements. Year ended June 30, 1975 Elementa and Se condary Education Act Fund balances, July 1, 1974 Revenues: Transfers from School District General Fund Revenues from Federal sources through the State of Alaska Title II Title II Title III Title IV Title VI E Title II Basic Special Mini Life Indian Title VI B In the Total Title I Basic 75216 -1 Purpose Systems Education Dial 911 Swim 54 - - - - 141,692 19,770 2,183 2,649 11,332 1,034 141,746 19,770 2,183 2,649 11,332 1,034 54 - - 103,919 457 348 103,973 457 348 Expenditures: Student lodging and food 31,169 - - - - - 31,169 - - Ancillary services - medical 1,900 - - - - - 1,900 - - Village video programing 39,218 - - - - - 39,218 - - Port Lions and Ouzinkie study 5,829 - - - - - 5,829 - - Travel 254 - - - - - 254 - - Village data gathering 3,441 - - - - - 3,441 - - Village cultural enrichment 20,464 - - - - - 20,464 - - Travel and per diem 1,698 - - - - - 1,698 - - Unclassified expenditures 37,773 19,770 2,183 2,649 11,332_ 1,034 - 457 348 141,746 19,770 2,183 . 2,649 11,332 1,034 103,973 457 348 Fund balances, June 30, 1975 $ See accompanying notes to financial statements. Exhibit T KODIAK ISLAND BOROUGH School District Special Revenue Funds Vocational Education Balance Sheets June 30, 1975 Vocational Education Small Welding Survey Home YES Student Office Gas and Metal and Economics CE2 Program Follow -up Assets Total J.O.I.N.S. Occupations Engines Fabrication Drafting C and H Program 1521E -75 Study Due from State of Alaska $ 28,504 1,000 1,855 750 3,061 650 470 16 4,700 16 Liabilities and Encumbrances Accounts payable 85 - - Due to School District General Fund 25,190 1,000 1,855 25,275 1,000 1,855 Encumbrances 3,229 - - $ 28,504 1,000 1,855 - - - 85 - 1,985 570 470 14,679 4,615 16 - 1,985 570 470 14,679 4,700 16 750 1,076 80 1,323 - 750 3 650 470 16,002 4,700 16 See accompanying notes to financial statements. Exhibit U KODIAK ISLAND BOROUGH School District Special Revenue Funds Vocational Education Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1975 Vocational Education Welding and Home Student Office Small Metal Auto Survey Econ- YES YES Follow - Occu- Office Gas Fabri- Mech- and omics CE2 Program Program up Total J.O.I.N.S. pations CO.op. Engines cation anics Drafting C and H Program 1521 -75 1521B -75 Study Fund balances, July 1, 1974 $ Revenues: Transfers from School District General Fund 290 95 - 19 - - 88 88 - - - - - Revenues from Federal sources through the State of Alaska 41,073 1,000 1,855 1,700 750 3,061 600 650 470 23,542 2,729 4,700 16 41,363 1,095 1,855 1,719 750 3,061 688 758 450 23,542 2,729 4,700 16 Unclassified expenditures 41,363 1,095 1,855 1,719 750 3,061 688 738 470 23,542 2,729 4,700 16 Fund balances, June 30, 1975 See accompanying notes to financial statements. Exhibit V KODIAK ISLAND BOROUGH School District Cafeteria Fund Balance Sheet June 30, 1975 Assets Cash $ 3,911 Accounts receivable 8,553 Inventory, at cost (first -in, first -out) 48,145 $ 60,609 Liabilities and Fund Balance Accounts payable 223 Payroll taxes accrued and withheld 4,411 Due to School District General Fund 4,183 a Total liabilities 8,817 Fund balance 51,792 $ 60,609 See accompanying notes to financial statements. Exhibit W KODIAK ISLAND BOROUGH School District Cafeteria Fund Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1975 Revenues: Food sales $ 70,193 Contribution from Boarding Home Program 36,000 Contribution from Federal Government for food expenditures 38,733 Food commodities donated by Federal Government 22,962 Contribution from School District General Fund 8,640 Other 289 Total revenues 176,817 Expenditures: Cost of food used $ 60,283 Salaries 103,322 Employee benefits 7,857 Equipment 5,228 Other 127 Total expenditures 176,817 Excess of revenues over expenditures - Fund balance, July 1, 1974 45,883 Add adjustments for: Overstated encumbrances 1,009 Unrecorded freight on inventory 4 5,909 Fund balance, June 30, 1975 $ 51,792 See accompanying notes to financial statements. Exhibit X KODIAK ISLAND BOROUGH School District Tobacco Tax Fund Balance Sheet June 30, 1975 Assets Cash Fund Balance Fund balance $ 145 $ 145 See accompanying notes to financial statements. KODIAK ISLAND School Dis Tobacco Tax Statement of Revenue, Expenditures Year ended June Exhibit Y BOROUGH trict Fund and Changes in Fund Balance 30, 1975 Fund balance, July 1, 1974 $ 145 Add State of Alaska revenue sharing 63,835 63,980 Less contribution to School District General Fund for debt service 63,835 Fund balance, June 30, 1975 $ 145 See accompanying notes to financial statements. Exhibit Z KODIAK ISLAND BOROUGH School District Student Activity Funds Balance Sheets June 30, 1975 See accompanying notes to financial statements. Junior High high Elementary Assets Total school school schools Cash $ 21,269 19,190 577 1,502 Investments 3 - 3,000 - $ 24 19,190 3,577 1,502 Liabilities, Encumbrances and Fund Balances Accounts payable 1,274 1,274 - - Encumbrances outstanding 2,834 2,834 - - Fund balance 20 15,082 3,577 1,50 $ 24,269 19 3 1 See accompanying notes to financial statements. Exhibit AA KODIAK ISLAND BOROUGH School District Student Activity Funds Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) Year ended June 30, 1975 Fund balances Fund balances (deficits) (deficits) July 1, 1974 Revenues Expenditures June 30, 1975 High school: Student council $ 6,790 29,639 31,281 5,148 Athletics (1,282) 40,103 38,931 (110) Music 4,860 4,106 4,177 4,789 Publications 143 4,348 3,811 680 Classes 2,132 6,236 7,582 786 Clubs: Auto (316) 117 36 (235) Cheerleaders 162 690 818 34 Junior Varsity Cheerleaders 50 184 104 130 Commercial Foods (944) 370 - (574) Drama 166 485 406 245 Drill Team (99) 1,434 1,822 (487) Forensic 11 - 11 - Future Business Leaders 180 - 93 87 Future Homemakers 21 - 1 20 Future Teachers 12 - 12 - Girls Athletic Association 34 - 30 4 Matmaids - 347 284 63 Metals 1,192 164 309 1,047 National Honor Society 1 23 38 (14) Pep (264) 596 27 305 Photo 137 95 - 232 U.I.C.A. 48 10 38 20 Video Tape Recorder 160 - - 160 Wood Shop - 2,433 1,631 802 High school pictures 778 304 853 229 Resale items 807 764 719 852 Miscellaneous 190 2,912 2,233 869 14,969 95,360 95,247 15,082 Junior high school 8,908 24,353 29,684 3,577 Elementary schools 1,543 8,879 8,920 1,502 $ 25,420 128,592 133,851 20,161 See accompanying notes to financial statements. KODIAK ISLAND BOROUGH Kodiak Aleutian Mental Health Center Balance Sheet June 30, 1975 Assets Cash Receivables: Patients Less allowance for uncollectible receivables Net patients receivables Federal Government Net receivables Furniture and equipment, at cost Liabilities and Fund Balance Payroll taxes accrued and withheld Due to State of Alaska Due to School District General Fund Due to Borough General Fund Total liabilities Fund balance: Invested in fixed assets Unappropriated Total fund balance $ 5,036 2,250 2,786 1,578 16,439 35,193 Exhibit BB $ 45,863 4,364 16,439 $ 66,666 2,922 10,223 104 1,785 15,034 51,632 $ 66,666 See accompanying notes to financial statements. Exhibit CC KODIAK ISLAND BOROUGH Kodiak Aleutian Mental Health Center Statement of Changes in Fund Balance Year ended June 30, 1975 Fund balance, July 1, 1974 Add excess of revenues over expenditures Fund balance, June 30, 1975 Total Unappropriated $ 39,844 23,405 11,788 11,788 $ 51,632 35,193 Investment in fixed assets 16,439 16,439 See accompanying notes to financial statements. KODIAK ISLAND BOROUGH Kodiak Aleutian Mental Health Center Statement of Revenues and Expenditures Year ended June 30, 1975 Revenues: Revenues from local sources: Kodiak Island Borough $ 16,300 Fees for services 11,970 Other 2 31,001 Revenues from state contract for community mental health services 53,913 Revenues from Federal grant 22,162 Total revenues 107,076 Expenditures: Employee expenses: Salaries $ 66,680 Payroll taxes 3,962 Group insurance 1,225 Staff training and travel 1 Total employee expenses $ 73,123 i Equipment rental 1,916 Advertising 906 Insurance and bonding 318 Office rent 8,400 Office supplies 1,937 Postage 253 Publications and dues 1,122 Telephone and telegraph 2,466 Tutorial aid program 1,691 Bad debt expense 2,692 Repairs and maintenance 311 Other 153 Total expenditures 95,288 Excess of revenues over expenditures $ 11,788 See accompanying notes to financial statements. Exhibit EE KODIAK ISLAND BOROUGH Debt Service Fund Balance Sheet June 30, 1975 Assets Cash Due from Capital Projects Fund Accrued interest receivable Liabilities and Fund Balance Due to Borough General Fund Fund balance $ 135,000 30,252 2,900 $ 168,152 2,900 165,252 $ 168,152 See accompanying notes to financial statements. KODIAK ISLAND BOROUGH Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balances Year ended June 30, 1975 Refunding Fund balance, July 1, 1974 Eliminate portion of fund balance arising from establishment of trust account which account is eliminated Fund balance, July 1, 1974, as restated Revenues: Borough General Fund contributions: Principal Interest School District General Fund contributions: Principal Interest Fiscal agent's fees Interest on deposits Total revenues Total Schools Hospital bonds $ 308,750 48,039 120,000 140,531 ( 140,531 ) - - ( 140,531 ) 168,219 48,039 120,000 - 15,000 - 15,000 - 14,660 - 14,660 - 125,000 125,000 - - 205,070 205,070 - - 531 531 - - 13,105 - 13,105 - 373,366 330,601 42,765 Expenditures: Principal Interest Fiscal agent's fees Contribution to Borough General Fund Contribution to School District General Fund Total expenditures Fund balance, June 30, 1975 125,000 125,000 - - 219,730 205,070 14,660 - 531 531 - - 13,105 - 13,105 - 17,787 17,787 - - 376,153 348,388 27765 - $ 165,252 30 135,000 - See accompanying notes to financial statements. Exhibit GG KODIAK ISLAND BOROUGH Capital Project Fund Balance Sheet June 30, 1975 Assets Cash Federal grant receivable Due from other funds: Borough General Fund Federal Revenue Sharing Fund Liabilities and Fund Balance Contract payable Due to Debt Service Fund Total liabilities Fund balance $ 70,960 1,600 $ 87,730 29,464 117,194 $ 189,754 15,245 30,252 45,497 144,257 $ 189,754 See accompanying notes to financial statements. Exhibit HH KODIAK ISLAND BOROUGH Capital Projects Fund Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1975 ADDronriated Fund balance, July 1, 1974 Add revenues: Interest income Contribution from Borough General Fund Deduct expenditures: Transfer of interest income to Borough General Fund High School: Additional construction cost School equipment Ouzinkie School: Architect Construction cost Hospital drainage Borough building remodeling Fund balance, June 30, 1975 3,876 3,876 Landscaping Kodiak Hospital and Borough High Ouzinkie improve- Building Total School School ments remodeling $ 155,015 144,867 12,327 (2,179) - 3,876 3,876 - - - 24,729 10,067 4 5,179 4,627 183,620 158,810 17,183 3,000 4,627 3,876 3,876 - - - 10,067 10,067 - - - 610 610 - - - 1,690 - 1,690 - - 15,493 - 15,493 - - 3,000 - - 3,000 - 4,627 - - - 4,627 39,363 14,553 17,183 3,000 4,627 $ 144,257 144 See accompanying notes to financial statements. Exhibit II KODIAK ISLAND BOROUGH Statement of General Long -Term Debt June 30, 1975 Amount Available and to be Provided for the Payment of General Long -Term Debt Term bonds: Amount available in Debt Service Funds Amount to be provided Serial bonds: Amount available in Debt Service Funds Amount to be provided General Long -Term Debt Payable Term bonds payable Serial bonds payable $ 135,000 165,000 300,000 30,252 4,274,748 4,305,000 $ 4,605,000 $ 300,000 4,305,000 $ 4,605,000 See accompanying notes to financial statements. KODIAK ISLAND BOROUGH Combined Schedule of Bonds Payable June 30, 1975 See accompanying notes to financial statements. Final Annual General Interest Issue maturity serial payments Obligation Bonds Rate Date date date Amount Date Term bonds - hospital building 4.875% 11 /1; 5/1 5/1/67 5/1/87 $ - - Serial bonds - school building 3.625 9/1; 3/1 3/1/65 1/1/79 20,000 1976 -1978 25,000 1979 3.875 9/1; 3/1 3/1/65 3/1/85 25,000 1980 -1985 5.75 9/1; 3/1 1/1/67 9/1/78 25,000 1975 -1977 50,000 1978 5.00 9/1; 3/1 1/1/67 9/1/88 50,000 1979 -1987 5.00 8/1; 2/1 4/1/74 8/1/85 105,000 1975 115,000 1976 120,000 1977 125,000 1978 130,000 1979 140,000 1980 145,000 1981 150,000 1982 160,000 1983 195,000 1984 210,000 1985 7.25 8/1; 2/1 8/1/74 8/1/92 215,000 1986 235,000 1987 250,000 1988 270,000 1989 290,000 1990 310,000 1991 330,000 1992 See accompanying notes to financial statements. Exhibit JJ Fund balance - Term Bonds Bonds Over (under) Authorized Issued Retired Outstanding Requirement Actual requirement $ 300,000 300,000 - 300,000 135,000 135,000 - 350,000 315,000 230,000 85,000 - - - 150,000 150,000 - 150,000 - - - 300,000 300,000 175,000 125,000 - - - i 450,000 450,000 - 450,000 - - - 2,100,000 i 2,100,000 505,000 1,595,000 - - - 1,900,000 1,900,000 - 1,900,000 - - - 5,250,000 5,215,000 910,000 4,305,000 - - - $ 5,550,000 5,515,000 910,000 4,605,000 135,000 135,000 - KODIAK ISLAND BOROUGH Notes to Financial Statements June 30, 1975 (1) Summary of Significant Accounting Policies Basis of Accounting The Borough follows the guideline for accounting methods recommended in Governmental Accounting, Auditing, and Financial Reporting in that the modified accrual method of accounting is utilized in which expenditures other than accrued interest on general long -term debt are recorded at the time liabilities are incurred and the revenues are recorded when received in cash, except for material revenues which are accrued to reflect properly the taxes levied and the revenues earned. (2) Refunding Bonds During 1975 the Borough issued "refunding bonds" in the amount of $1,900,000 to provide funds to retire $2,325,000 of the 1974 refunding bonds. The proceeds from the new issue have been invested in U. S. Governmental securi- ties at an interest rate which will meet the interest requirements of the issue to be refunded until the date of payment. The refunding bonds were issued at an interest rate of 7.25% while the bonds to be refunded carry interest rates of 5.0 %. The net effect of the transaction will be a saving of approximately $74,000 to be realized by the Borough over a period of eighteen (18) years. (3) Contingent Liabilities During the year the Borough and the Grey Nuns of the Sacred Heart implemented an operating agreement whereby the Order will operate the Borough -owned hospital for five years commencing March 1, 1975. As consideration for the operational and administrative services furnished by the Order, the Borough agreed to fund any deficit incurred by the Order resulting from operation of the hospital; however, any amounts contributed are to repaid should excess funds become available from subsequent operations. Further, the Borough agreed to pay required insurance premiums and to budget a maximum of $60,000 each year for reasonably anticipated operating deficits and to distribute such amount at periodic intervals should deficits occur. Audited financial statements of the hospital for the year ended December 31, 1974 indicated an excess of revenues over expenditures of $41,900.