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CAFR FY1982KODIAK ISLAND BOROUGH FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 1982 with REPORT OF CERTIFIED PUBLIC ACCOUNTANTS fl CONTENTS Exhibit Page Report of certified public accountants 1 Combined financial statements Combined balance sheet - all fund types and account groups 2- 3 Combined statement of revenues, expenditures and changes in fund balances - all governmental fund types 4- 5 Combined statement of revenues, expenditures and changes in fund balances - budget and actual - general, special revenue and debt service funds 6- 7 Notes to financial statements 8 -18 Combining and individual fund financial statements General Fund Balance sheet A -1 19 Statement of revenues, expenditures and changes in fund balance - budget and actual A -2. 20 -30 Special Revenue Funds Combining balance sheet B -1 31 Combining statement of revenues, expenditures and changes in fund balances B -2 32 Land Sales Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -3 33 Service District Funds: Fire District Number 1 Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -4 34 CONTENTS (Continued) Exhibit Page Special.Revenue Funds (continued) Service District Funds (continued): ! Xarluk Fire District Fund: Statement of revenues, expenditures and changes in fund balance - f budget and actual B -5 35 Roads and Utility Improvements District Number 1 Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -6 36 Bell Flats Road Improvements District Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -7 37 Intergovernmental Grants and Contracts: Mental Health Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -8 38 Federal Shared Revenues Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -9 39 _ Energy Grant Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -10 40 Education Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual B -11 41 -42 i CONTENTS (Continued) Exhibit Page Debt Service Funds Combining balance sheet C -1 43 Combining statement of revenues, expenditures and changes in fund balances C -2 44 Hospital Bond Debt Service Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual C -3 45 School Bonds Debt Service Fund: Statement of revenues, expenditures and changes in fund balance - budget and actual C -4 46 Capital Projects Funds Combining balance sheet D -1 47 Combining statement of revenues, expenditures and changes in fund balances (deficit) D -2 48 KODIAK ISLAND BOROUGH COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS June 30, 1982 ASSETS Cash and investments: Equity in central treasury (Note 2A) Other cash balances Temporary cash investments (Note 2B) Accounts receivable: Property taxes receivable, net of allowance for uncollectibles of $30,000 (Note 8) Due from Federal government Due from State of Alaska Land contracts due within one year Other accounts receivable Other assets: Inventories (Note 1F) Land contracts due after one year Amount available in debt service funds Amount to be provided for long -term debt Fixed assets Construction in progress Total assets Continued Governmental Fund Types Special Debt General Revenue Service $4,787,391 $ 327,700 $180,438 2,024 126,249 - - 692,801 255,000 1,522,507 - 202,635 - 633,005 999,616 - - 49,860 - 80,872 88,272 - - 189,210 - - 1,952,243 - $7,025,799 $4,628,586 $435,438 See accompanying notes. -2- Account Groups General General Total Capital Fixed Assets Long -Term (Memorandum Projects (Unaudited) Debt Only) $ 2,313,338 $ 277 8,000,000 - 178,631 - 258,831 152,622 - - 17,081,115 - 11,183,980 $10,903,699 $28,265,095 $ - $ 7,608,867 - 128,550 - 8,947,801 - 1,522,507 - 381,266 - 1,891,452 - 49,860 - 321,766 - 189,210 - 1,952,243 435,438 435,438 14,954,562 14,954,562 - 17,081,115 - 11,183,980 $15,390,000 $66,648,617 t KODIAK ISLAND BOROUGH COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS (Continued) June 30, 1982 LIABILITIES AND l FUND BALANCES Amount overdrawn on central treasury (Note 2A) Accounts and contracts payable, including retainage Accrued liabilities Deferred revenue Long -term debt payable (Note 6) Total liabilities Fund balances: Investment in general fixed assets Reserved for encumbrances Unreserved: Designated for working capital Designated for debt service Designated for subsequent year's expenditures Undesignated Total fund balances Total liabilities and fund balances Governmental Fund Types Special Debt General Revenue Service $ - $ 196,422 $ - 36,361 127,974 63,496 970,695 - 1,457,383 2,037,426 1,557,240 3,332,517 44,636 265,375 - 900,000 - - 2,511,500 - - 482,450 206,962 435,438 1,529,973 823,732 - 5,468,559 1,296,069 435,438 $7,025,799 $4,628,586 $435,.438 See accompanying notes. -3- Account Groups General General Total Capital Fixed Assets Long -Term (Memorandum Projects (Unaudited) Debt Only) $ 271,252 $ - 1,627,283 3,913 - 1,750,615 3,653 - 28,265,095 6,009,285 - $ $ 467,674 1,791,618 1,038,104 - 5,245,424 15.390.000 15.390.000 15,390,000 23,932,820 28,265,095 6,319,296 900,000 2,511,500 1,241,351 7,250,636 28,265,095 $10,903 $28,265,095 2,366,201 2,353,705 42,715,797 $15,390,000 $66,648,617 KODIAK ISLAND BOROUGH COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES For the year ended June 30, 1982 Revenues (Note 1B): Property taxes Intergovernmental: Federal State of Alaska Land sales proceeds received Licenses, permits, fees and other local revenue Building rent Revenue from investments and property Total revenues Other financing sources: Operating transfers in Total revenues and other financing sources Continued Governmental Fund Types Special Debt General Revenue Service $2,236,368 $ 140,093 $ - 1,387 1,227,832 - 2,701,874 12,028,496 - - 151,534 - 22,233 445,441 - 110,020 - - 892,206 264,086 35,208 5,964,088 14,257,482 35,208 691 922 1,134,999 5,964,088 14,949,404 1,170,207 See accompanying notes. -4- Total Capital (Memorandum Projects Only) $ - $ 2,376,461 63,895 1,293,114 1,026,187 15,756,557 - 151,534 467,674 - 110,020 1,538,535 2,730,05 2 22,885,395 536,495 2,363,416 3,165,112 25,248,811 KODIAK ISLAND BOROUGH COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES (Continued) For the year ended June 30, 1982 Expenditures: Borough assembly Legal department Capital improvements Manager's department Clerk's department Finance department Assessment department Planning and community development Engineering department Health and sanitation Data services Outer continental shelf Coastal zone management Buildings and grounds General administration Education Debt service Total expenditures -i Other financing uses: Operating transfers out Total expenditures and other financing uses Excess (deficiency) of revenues and other financing sources over (under) expenditures and other financing uses Fund balances, July 1, 1981 Equity transfer Fund balances, June 30, 1982 Governmental Fund Types Special Debt General Revenue Service $ 29,230 $ - $ 91,368 - - 343,440 104,563 - 126,024 - 125,584 142,591 - 152,368 131,118 710,644 208,451 25,968 125,102 275,157 157,399 229,525 593,444 67,600 12, 663,139 13,667,623 1,915,587 1,915,587 2,635,092 1,258,047 713,817 - 3,893,139 14,381,440 1,915,587 2,070,949 3,407,234 (9,624 $5,468,559 See accompanying notes. 567,964 (745,380) 718,481 1,180,818 9,624 $ 1,296,069 $ 435,438 -5- Capital Projects $ r r 7,702,336 117,620 r r 7,819,956 Total (Memorandum Only) $ 29,230 91,368 8,045,776 104 126,024 125,584 142,591 863,432 131,118 778,244 208,451 25,968 125,102 275,1,57 157,399 12,892,664 1.915.587 26,038,258 391,552 2,363,416 8,211,508 28,401,674 (5,046,396) (3,152,863) 12,297,032 $ 7,250,636 17,603,565 $14,450,702 KODIAK ISLAND BOROUGH COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL, SPECIAL REVENUE AND DEBT SERVICE FUNDS For the year ended June 30, 1982 Revenues (Note 1B): Property taxes Intergovernmental: Federal State Land sales proceeds received Licenses, permits, fees and other local revenue Building rent Revenue from investments and property Total revenues Other financing sources: Operating transfers in Total revenues and other financing sources Continued I General Fund Variance - Favorable Budget Actual (Unfavorable) $2,217,320 $2,236,368 $ 19,048 2,180 1,387 (793) 1,992,550 2,701,874 709,324 13,700 22,233 8,533 110,040 110,020 (20) 713,210 892,206 178,996 5,049,000 5,964,088 915,088 5,049,000 5,964,088 915,088 See accompanying notes. -6- Special Revenue Funds Variance Favorable Budget Actual (Unfavorable) $ 138,850 $ 140,093 $ 1,243 1,127,424 1,227,832 100,408 12,233,019 12,028,496 (204,523) 195,390 151,534 (43,856) 269,291 445,441 176,150 54,000 264,086 210,086 14,017,974 14,257,482 239,508 _ 1,380,629 691,922 (688,707 Debt Service Funds Variance - Favorable Budget Actual (Unfavorable) 35,208 35,208 35,208 35,208 1,934,830 1,134,999 (799,831 15,398,603 14,949,404 (449,199 1,934,830 1,170,207 (764,623 KODIAK ISLAND BOROUGH COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL, SPECIAL REVENUE AND DEBT SERVICE FUNDS (Continued) For the year ended June 30, 1982 Expenditures: Borough assembly Legal department Capital improvements Manager's department Clerk's department Finance department Assessment department Planning and community development Engineering department Health and sanitation Data services Outer continental shelf Coastal zone management Buildings and grounds General administration Education Debt service Total expenditures Other financing uses: Operating transfers out Total expenditures and other financing uses Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses Fund balances, July 1, 1981 Equity transfer Fund balances, June 30, 1982 3,407,234 (9,624 $5,468,559 See accompanying notes. General Fund Variance - Favorable Budget Actual (Unfavorable) $ 44,000 107,000 158,700 156,524 136,190 149,074 $ 29,230 91,368 104,563 126,024 125,584 142,591 $ 14,770 15,632 54,137 30,500 10,606 6,483 171,910 171,794 687,700 230,610 50,000 115,000 566,500 165,803 275,505 3,186,310 152,368 131,118 710,644 208,451 25,968 125,102 275,157 157,399 229,525 2,635,092 1,862,6.90 1,258,047 5,049,000 3,893,139 $ - 2,070,949 19,542 40,676 (22,944) 22,159 24,032 (10,102) 291,343 8,404 45,980 551,218 604,643 1,155,861 $2,070,949 -7- Special Revenue Funds Variance - Favorable B_ udget Actual (IInfavorable) 679,500 343,440 342,000 593,444 a a 442,741 67,600 a _ 13,466,105 12,663,139 14,930,346 13,667,623 336,060 (251,444) 375,141 802,966 1,262,723 713,817 713,817 - 15,644,163 14,381,440 1,262,723 (245,560 567,964 $ 813,524 718,481 9,624 $ 1 Debt Service Funds Variance - Favorable Budget Actual (Unfavorable) 1,934,830 1,915,587 19,243 1,934,830 1,915,587 19,243 1,934,830 1,915,587 19,243 $ - (745,380) $ (745,380 1,180,818 $ 435,438 KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS June 30, 1982 1. Significant Accounting Policies A. Basis of Presentation The Kodiak Island Borough (Borough) is organized to perform the municipal duties allowed by Alaska Statutes and as directed by its residents. The financial results of the recur- ring activities performed directly by the Borough are accounted for in the funds of the Borough. As discussed in the following paragraphs, the Borough delegates and contracts with various related entities to fulfill certain of its functions. The Borough has delegated the operating responsi- bility for public education to the Kodiak Island Borough School District (School District). In accordance with statutes, the Borough retains ownership of the educationally related fixed assets and incurs the debt, if necessary, to fund the acquisi- tion and construction of the school facilities. The Borough and the School District maintain separate accounting records of financial activity. The Borough includes the consolidated financial statement of the School District as a Special Revenue Fund in this financial statement. The Borough conducts a mental health services program by terms of a contract with the State of Alaska. The operating activity of this program is subcontracted to the Kodiak Aleutian Mental Health Center. All operating activity and resultant financial position of this program is presented in.a Special Revenue Fund in this financial statement. The Borough owns the Kodiak Island Borough Hospital (Hospital) and related furnishings. The Borough has contracted the Hospital's operating activities to the Lutheran Hospitals and Homes Society of America. By terms of that agreement, oper- ating losses sustained (as contractually defined), if any, are the ultimate responsibility of the Borough. Annual contribu- tions, as well as direct payment for certain insurance and equip- ment and plant repairs, are made by the Borough to subsidize the Hospital's financial operations. These contributions and direct payments are recorded as expenditures of the Borough's General Fund. The comprehensive financial position and opera- ting results of the Hospital are not included in this financial statement. -8- KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 1. Significant Accounting Policies (Continued) B. Basis of Accountin The accounts of the Borough are organized on the basis of funds, each of Which is considered a separate account- ing entity. The resources of the Borough are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. 'All funds of the Borough are cate- gorized as "governmental funds" to which the modified accrual basis of accounting applies. Pursuant to the modified accrual basis of accounting, expenditures (including accumulated employee leave with cash value) are reflected in the year in which the liabilities for goods and services are incurred, except principal and interest on long -term debt is recognized when due. Also, pursuant to this basis of accounting, material revenues which are both measurable and available are accrued, other revenues are recorded on the cash basis. Summarized below are the major sources of revenue and the applicable recognition policies. Property taxes Real and personal property tax revenue is recog- nized in the fiscal year to which it relates and in which it becomes collectible. Intergovernmental revenue State of Alaska Shared Revenues, State of Alaska Municipal Assistance, Federal Shared Revenue and various State education related entitlement programs and State levied taxes (the proceeds of which are distributed to local governments) are recorded in the fiscal year to which they relate, including accrual at year end of final payments due within approximately two'to three months after year end. State of Alaska and Federal governmental cost reimbursable grants and contracts (including grants for construction) are recorded to the extent of allowable expenditures in the period in which the expenditures were incurred. KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 1. Significant Accounting Policies (Continued) B. Basis of Accounting (Continued) Revenue from investments and property Amounts earned on investment of available cash balances and the rental of building facilities are record- ed in the period to which they relate, including accrual at -year end of balances due. All year end accruals at June 30, 1982 are due within approximately two to three months of year end. Land sales proceeds and other local revenue Amounts received pursuant to land sale con- tracts (long -term in nature) are recorded on the cash basis. Other local revenues are recorded on a basis consistent with their nature in relation to measurement and availa- bility standards. C. Fixed Assets and Long -Term Liabilities Annual payments of principal and interest on long- term obligations are recorded as expenditures in the Debt Service Funds in the year of payment. The long -term liabilities owed by the Borough and fixed assets owned by the Borough are presented in the Long - Term Debt Group of Accounts and General Fixed Asset Group of Accounts, respectively. These account groups are not "funds," as they reflect only the measurement of financial position and do not reflect measurement of the results of operations. Acquisition and construction of fixed assets are reflected as expenditures in the appropriate fund to which such transactions relate. -10- KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 1. Significant Accounting Policies (Continued) D. Budgets The annual Borough budget is prepared by management in the spring, preceding the fiscal year to which it relates. The budget is submitted to the Assembly for review and approval. Legal enactment of the budget is obtained through passage of a Borough ordinance. Amendments to the budget can occur anytime during the fiscal year through Assembly action. An Assembly resolution is required as authorization to transfer budgeted amounts between line items in each fund. Revisions that alter total expendi- tures of a fund must be authorized by ordinance. The budgeting basis used by the Borough is consistent with generally accepted accounting principles. All funds are budgeted on an annual basis encompassing a fiscal year, except the budgets of Capital Project Funds generally encompass the period of project completion which is generally greater than one year. E. Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration in the General Fund, Special Revenue Funds, and Capital Projects Funds. Encumbrances outstanding at year end are reported as reservations of fund balances since they do not constitute expenditures or liabilities. F. Inventory Expendable operating supplies of the Borough (except as discussed in the succeeding paragraph) are recorded on the purchases method and at June 30, 1982, there was no significant amount of such items. Expendable operating supplies of the School District, consisting primarily of teaching, maintenance and food supplies, are recorded on the usage basis. These inventories are valued at the lower of average cost or market, except USDA food inven- tory (acquired at nominal price) is recorded at replacement cost. -11- KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 1. Significant Accounting Policies (Continued) G. Investment Earnings Earnings from common investments of the central treasury are credited to the General Fund. Earnings from spe- cifically identifiable investments are credited to the fund to which the investment relates. H.- Retirement Plans All full -time employees of the Borough and School District participate in either the Public Employees' Retirement System (PERS) or the Teachers' Retirement System (TRS). The Borough and School District accrue pension expense which in- cludes current costs and amortization of prior service costs. The policy is to fund pension cost accrued. I. Total Columns on Combined Financial Statements Total columns on the Combined Financial Statements are captioned Memorandum Only to indicate that they are pre- sented only to facilitate financial analysis. Data in these columns is not comparable to a consolidation, nor does the data present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles, because'interfund eliminations and other adjustments have not been made in the aggregation of this data. 2. Cash and Temporary Investments A. Central Treasury The cash transactions of the Borough's funds are trans- acted primarily in a single checking account. Cash carried in this central account, in excess of operating needs, is invested in temporary certificates of deposit or similar short -term in- vestments. A summary of central treasury cash balances by depository at June 30, 1982 is as follows: -12- KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS j (Continued) ( June 30, 1982 2. Cash and Temporary Investments (Continued A. Central Treasury (Continued) Bank balance Repurchase agreements (11.00% annual return) Time certificates of deposit (14.2% average annual return) Special Debt Capital Revenue Service Projects Total Funds Fund Fund B. Specific Cash Investments Investments have been made by the Borough and identi- fied by the specific source of their funding. A summary of these investments at June 30, 1982 is as follows: Time certificate of deposit (13.68% average annual return) { Time certificate of deposit (14.375% annual return) Time certificates of deposit (14.66% average annual return) Totals $ 692,801 $692,801 $ 255,000 - $ 41,193 1,100,000 6,000,000 $7,141,193 255,000 - 8,000,000 - - 8,000,000 $8,947,801 $692,801 1255,000 $8,000,000 -13- KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 3. 4. Annual Appropriation to the School District An annual appropriation is made to the School District in order to provide the School District with total resources in a fiscal year equal in amount to the expenditures and encumbrances incurred (excluding the net effect of student generated financial activity). That portion (an amount of $649,643 in the year ended June 30, 1982) of the annual budgeted appropriation in excess of the amount necessary to balance the School District's total annual resources to its annual expendi- tures and encumbrances (excluding the net effect of student generated financial activity) lapses to the Borough at'year end. In addition to the annual appropriation, the Borough provides the School District, without charge, general liability and property insurance and the annual independent audit. Kodiak Island Borough Hospital Appropriation By terms of the operating agreement with the Lutheran Hospitals and Homes Society of America, the Borough is ultimate- ly responsible for operating losses (as contractually defined), if any, sustained by the Kodiak Island Borough Hospital. Shared revenue received by the Borough from the State of Alaska includes $249,662, required to be passed through to the Hospital. The Borough recorded this amount as intergovern- mental revenue and the pass- through as an expenditure of health and sanitation. The operating results summarized below do not include the $124,662 of shared revenues distributed to the Hospital for the period January 1, 1982 through June 30, 1982. The unaudited financial statements of the Hospital at June 30, 1982 and for the six months then ended reflect the following: Excess of expenses over revenue, before depreciation $ 94,989 Excess of expenses over revenue, after depreciation $ 163,403 Fixed assets, net $3,026,650 Total assets $4,133,679 Fund balance (including Borough equity in fixed assets) $4,013,039 -14- KODIAB ISLAND BOROUGH ? NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 5. Retirement Plans Total pension expense under PERS and TRS, relating to employees of the Borough and School District for the year ended June 30, 1982 is as follows: Borough School District PERS $114,155 $307,007 TRS - 486,338 $114,155 $793,345 The School District's portion of the actuarially com- puted value of vested benefits over the total of pension fund assets for TRS is not available, as all employer contributions are commingled. As of June 30, 1981, the accrued benefit fund- ing ratio of TRS was 79.1 %. The actuarially computed value of the Borough's and School District's unfunded liability (present value of accrued benefits over adjusted assets) for PERS was $12,241 and $405,097, respectively, at June 30, 1981. Contributions to these plans are a percentage of eligible gross wages made by both the employer and employee as follows: 1981 -82 1982 -83 Borough School District Borough School District PERS PERS TRS PERS P_ ERS TRS Employee 4.25% 4.25% 7.00% 4.25% 4.25% 7.00% Employer 12.54 13.78 8.42 12.54 13.78 8.45 Total 16.79% 18.03% 15.42% 16.79% 18.03% 15.45 -15- KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 t 6. Long -Term Debt A. Summary The following is a summary of long -term debt transac- tions for the year ended June 30, 1982: Bonds Balance due, (Principal) Balance due, July 1, 1981 Retired June 30, 1982 [ General Obligation Bonds: Term Bonds: 1967 Hospital bond, due 1987 (4.875% annual interest rate) $ 300,000 $ - $ 300,000 Serial Bonds: 1965 School bond (annual interest rates of 3.625% to 3.875 %), due in installments to 1985) 100,000 25,000 75,000 1967 School bond (annual interest rates of 5.00% to 5.75 %) due in in- stallments to 1988 350,000 50,000 300,000 1974 School refunding bond (annual inter- est rates of 5.0% to 5.7 %) due in installments to 1985 860,000 145,000 715,000 1974 School refunding bond (annual inter- est rates of 7.25 %) due in installments from 1986 to 1992) 1,900,000 - 1,900,000 1980 School bond (annual interest rate of 7.3% to 9.0 %) due in installments to 2001 12,100,000 - 12,100,000 Totals $15,610,000 $220,000 $15,390,000 -16- E 4 ri KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30 1982 6. Long -Term Debt (Continued) B. Refunding Bonds During 1974 and 1975, the Borough defeased existing bonds by utilizing the proceeds of bonds then issued. The pro - ceeds from the "refunding bonds" (issued in the amounts of $4,000,000 and $2,325,000) have been invested in U.S. Govern- ment securities at an interest rate which will result in a return of proceeds that, when added to the securities' principal balances, will be sufficient to meet the interest and principal requirements of the defeased bonds. The investments in the securities and the current obligations of the defeased bonds are not reflected in the financial statements. A summary of the investments held in trust and the current obligations of the defeased bonds is summarized below. Bond Principal Investments Outstanding, Held in Trust, June 30, 1982 June 30, 1982 1972 School bond (5.5% to 6.75 %) due in installments to 1993 $2,835,000 1974 "A" School bonds (5% to 5.7%) due in installments to 1990 2,150,00 $4,985,000 * Seattle First National Bank as Trustee ** Central Bank of Denver as Trustee C. unissued Bonds $2,918,347 * 2,004,157 ** $4,922,504 The Borough has unissued bonds for future school im- provements in the amount of $16,900,000 authorized by the 1979 referendum. An issue of $7,400,000 of bonds for junior high school renovation is planned for the Borough's 1983 fiscal year. -17- KODIAK ISLAND BOROUGH NOTES TO FINANCIAL STATEMENTS (Continued) June 30, 1982 6 . Long -Term Debt (Continued) D. Scheduled Maturities The aggregate maturities of-long-term debt, excluding defeased bonds, to maturity is as follows: 1983 $ 515,000 1984 550,000 1985 610,000 1986 630,000 1987 960,000 1988 - 1992 3,925,000 1993 - 1997 4,030,000 1998 - 2001 4,170,000 $15,390,000 7. 8 . Contingencies The contractor for the Main Elementary School con- struction has asserted a claim for delay damages of approximate- ly $400,000. It is the opinion of management and legal counsel that this claim can be settled favorably for the Borough. No provision for loss has been recorded in these financial state- ments. Property Taxes Property taxes are levied on the assessed value of taxable property as of January 1. Pursuant to Alaska Statutes Title 29.53.170, the Borough establishes the mill rate on or before June 15. Tax bills are payable in two installments on August 15 and October 15. Borough property tax revenues are recognized in the fiscal year in Which they become collectible. At June 30, 1982, the 1982 real and personal property tax levy of $1,457,383 is reflected as deferred revenue of the General Fund. Subsequent Events Effective July 1, 1982, the Borough will assume responsibility for operation, maintenance and billing of water and sewer services for residents of Roads and Utility Improve- ments Service District Number 1. -18- enMRTNTNG AND INDIVIDUAL FUND FINANCIAL STATEMENTS General Fund The General Fund is the general operating fund of the Borough. It is used to account for all financial resources except those designated or required to be accounted for in another fund. w KODIAK ISLAND BOROUGH GENERAL FUND BALANCE SHEET June 30, 1982 ASSETS Cash and investments: Equity in central treasury Other cash balances Total cash and investments Accounts receivable: Property taxes receivable: 1982 Borough role due in fiscal year 1983 Delinquent taxes due (net of allowance for uncollectibles of $30,000): Due from State of Alaska Other accounts receivable: 1 Accrued interest Other accounts receivable, $29,630, less allowance for doubtful accounts of $29,147 Total accounts receivable Total assets LIABILITIES AND FUND BALANCE I Accounts and contracts payable: Taxes collected in advance Other Accrued liabilities Deferred revenue: 1982 Borough tax role, area wide 1982 Borough tax role, service districts Total liabilities Fund balance: Reserved for encumbrances Unreserved: Designated for working capital Designated for debt service Designated for subsequent year's expenditures Undesignated Total fund balance Total liabilities and fund balance $1,457,383 65,124 80,389 $7,025,799 $ 1,158 35,203 $ 36,361 63,496 1,373,383 84,000 1,457,383 1,557,240 EXHIBIT A -1 $4,787,391 2,024 4,789,415 1,522,507 633,005 483 80,872 2,236,384 44,636 900,000 2,511,500 482,450 1,529,973 5,468,559 $7,025,799 M-C'M KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 Revenues: Property taxes: General property Penalty and interest Payment in lieu of taxes Budget Actual $1,844,100 30,000 343,220 2,217,320 $1,865,603 30,425 340,340 2,236,368 Intergovernmental: Federal government State: State Shared Revenue Hospital equipment grant Coastal Zone Management grant Day care grant Outer Continental Shelf grant Comprehensive planning grant Municipal Assistance Raw Fish tax Electric Co -Op tax Motor vehicle tax Licenses, permits, fees, and other local revenue: Buildings and trailers Subdivision and zoning fees Sale of copies Sale of general fixed ( assets Miscellaneous Continued 2,180 1,387 710,980 130,000 731,153 130,000 91,460 132,760 50,000 551,830 240,000 5,200 80.320 1,992,550 7,100 1,400 5,000 200 13,700 -20- 104,990 165,015 25,968 8,000 551,837 828,783 5,386 150.742 2,701,874 14,794 1,264 4,136 973 1,066 22 ,233 EXHIBIT A -2 Variance - Favorable (Unfavorable) $ 21,503 425 (2,880 19,048 (793 20,173 13,530 32,255 (24,032) 8,000 7 588,783 186 70.422 ?09,324 7,694 (136) 4,136 (4,027) 866 8,53 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Budget Actual Building rent: Other local governments Other tenants Revenues from investments and property: Election contract services Interest income Lease rentals on land and building Computer rental Miscellaneous Total revenues Expenditures: Borough Assembly: Mayor travel and per diem Mayor compensation Mayor honorariums and amenities Assembly travel and per diem Assembly compensation Group insurance Office supplies Telephone and telegraph Insurance and bonding Office rent Publications and dues Furniture and fixtures Miscellaneous Continued $ 101,640 8,400 110,040 1,200 654,220 9,790 48,000 713,210 5,049,000 5,000 1,200 1,006 17,500 8,400 500 1,000 3,880 5,514 44,000 -21- $ 87,360 22,660 110,020 860,121 10,834 19,427 1.824 892,206 5,964,088 2,562 1,200 390 10,536 8,200 326 70 62 4,139 396 843 506 29,230 EXHIBIT A -2 (Continued) Variance - Favorable (Unfavorable) $ (14,280) 14,260 (20 ) (1,200) 205,901 1,044 (28,573) 1,824 178,996 915,088 2,438 616 6,964 200 (326) 430 938 (259) 5,514 (396) (843) ( 506 ) 14,770 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Legal department: Borough attorney Court costs and litigation allowance Telephone and telegraph Advertising and hearings Travel and per diem Publications and dues Miscellaneous Manager's department: Borough manager Secretary Extra help /overtime Taxes - ESC Taxes - FICA Group insurance Retirement Termination reserve Professional development Office supplies Telephone and telegraph Repairs and maintenance Travel and per diem Automobile repairs and maintenance Professional services Boards and committees Miscellaneous Insurance and bonding Relocation expenses Office rent Printing and publication Publications and dues Furniture and fixtures Continued Budget Actual $ 72,800 $ 61,448 27,000 7,200 107,000 5,271 627 20,029 3,567 101 325 91,368 53,000 22,170 1,710 3,410 2,610 9,440 24,000 6,500 1,000 3,000 250 10,000 400 2,500 1,000 1,506 500 6,990 5,514 1,000 1,200 1,000 158,700 -22- 55,731D 21,86V 866 1,442 4,757 2,828 6,051 129 1,481 2,279 124 1,107 192 200 1,233 1,008 281 684 1,337 972 104,563 EXHIBIT A -2 (Continued) Variance - Favorable (Unfavorable) $ 11,352 21,729 (627) (20,029) 3,633 (101) .= ) 15,632 (2,731) 309 (866) 268 (1,347) (218 ) 3,389 24,000 6,371 (481) 721 126 8,893 208 2,300 (233) 498 219 6,990 5,514 316 (137 ) 28 54,137 KODIAK ISLAND BOROUGH GENERAL FUND EXHIBIT A -2 (Continued) STATEMENT OF REVENUES,.EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 u Clerk's department: Clerk Secretary Extra help /overtime Taxes - ESC Taxes - FICA Group insurance Retirement Professional development Office supplies Telephone and telegraph Advertising and public hearings Travel and per diem Automobile allowance Postage Election, local Professional services Insurance and bonding Office rent Repairs and maintenance Relocation expenses Printing and publication Publications and dues Furniture and fixtures Machinery and equipment Budget Actual Variance - Favorable (Unfavorable.) $ 41,110 $ 41,263 $ (153) 21,100 22,790 (1,690) 500 - 500 570 920 (350) 3,750 3,403 347 3,180 3,456 (276) 7,130 7,195 (65) 2,000 2,267 (267) 6,000 1,347 4,653 2,000 1,129 871 w N Continued 6,045 2,500 525 6,500 10,000 2,500 100 5,514 1,000 1,000 7,500 12,500 13.500 156,524 i -23- 3,239 1,492 525 6,140 5,114 869 138 1,667 552 6,891 53 15,574 126,024 2,806 1,008 360 4,886 1,631 (38) 5,514 (667) 448 609 12,447 (2,07 30,500 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Finance department: Finance director Bookkeeper Cashier Taxes - ESC Taxes - FICA Group Retirement Termination reserve Automobile allowance Telephone and telegraph Office rent Insurance and bonding Professional development Professional services Advertising and hearings Printing and publication Repairs and maintenance Travel and per diem Office supplies Publications and dues Postage Relocation expenses Furniture and fixtures Continued EXHIBIT A -2 (Continued) -24- Variance - Favorable Budget Actual (Unfavorable) $ 38,730 $ 41,480 $ (2,750) 25,100 25,304 (204) 20,540 19,938 602 860 1,583 (723) 4,810 4,838 (28) 3,920 2,751 1,169 10,310 10,614 (304) 430 - 430 300 300 - 1,500 1,908 (408) 5,500 - 5,500 6,000 1,350 4,650 2,000 2,837 (837) 2,000 - 2,000 - 776 (776) 1,210 3,635 (2,425) 750 471 279 4,890 2,653 2,237 850 1,290 (440) 1,500 1 (84) 500 189 311 640 635 5 3,850 1,448 2,402 136,190 125,584 10,606 -24- KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 EXHIBIT A -2 (Continued) Variance - Favorable (Unfavorable) Budget_ Actual Assessment department: Appraiser /assessor Assistant assessor Assessing clerk Extra help /overtime Taxes - ESC Taxes - FICA Group insurance Retirement Termination reserve Professional development Publications and dues Office supplies Telephone and telegraph Repairs and maintenance Advertising and hearings Travel and per diem Automobile allowance Printing and publication Professional services Insurance and bonding Office rent Postage Furniture and fixtures $ 43,090 28,660 20,020 860 4,950 3,920 11,130 5,380 450 1,700 900 400 1,100 2,750 840 10,060 500 150 5,514 4,950 1,750 149,074 $ 42,504 30,601 20,912 448 1,487 5,334 3,530 11,802 797 2,623 633 1,560 1,035 299 824 1,753 840 10,027 825 88 2,810 1.859 142,591 Continued -25- $ 586 (1,941) (892) (448 ) (627) (384) 390 (672) (797) 2,757 (183) 140 (135 ) 101 276 997 33 (325) 62 5,514 2,140 (109 6,483 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Budget Planning and community development department: Planning director $ 40,200 Zoning assistant 27,636 Secretary 23,260 Extra help /overtime 4,100 Taxes - ESC 860 Taxes - FICA 5,630 Group insurance 3,910 Retirement 11,870 Professional development 2,000 Office supplies 3,500 Telephone and telegraph 1,800 Advertising and hearings 2,900 Travel and per diem 6,000 Automobile allowance 350 Professional services 12,000 Maps 2,000 Printing and publication 2,500 Boards and committees 8,400 Office rent 5,514 Publications and dues 1,100 Relocation expenses 1,500 Repairs and maintenance 500 Furniture and fixtures 2,600 Machinery and equipment 1,780 Actual 41,776 24,612 21,800 1,560 5,000 4,260 10,607 1,849 2,259 1,217 4,125 3,745 720 11,319 1,647 1,197 7,602 927 1,500 316 2,555 1,775 171,910 152,368 Continued EXHIBIT A -2 (Continued) Variance - Favorable (Unfavorable) $ (1,576) 3,024 1,460 4,100 (700) 630 (350) 1,263 151 1,241 583 (1,225) 2,255 (370) 681 353 1,303 798 5,514 173 184 45 5 19,542 z6r;z KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Engineering department: Engineer _Building official Secretary Taxes - ESC Taxes - FICA Group insurance Retirement Termination reserve Professional development Office supplies Telephone and telegraph Advertising and hearings Travel and per diem Automobile allowance Professional services Office rent Maps Survey and blueprint supplies Publications and dues Easement acquisitions Printing and publication Repairs and maintenance Furniture and fixtures Machinery and equipment Health and sanitation: Council on Alcoholism Sanitation expense Health Resources Board Senior citizens Support of Detoxification Center Support of Halfway House Support of Health Clinic Hospital support: Equipment and furnishings Other costs Current operating expenses Village health services KANA health services Day care Small World, Inc. Budget Actual $ 41,530 39,970 21,140 860 5,360 3,920 12,750 8,090 3,000 2,000 2,600 500 1,500 720 5,000 5,514 2,000 2,100 730 150 1,100 1,300 1,960 8.000 171,794 12,160 2,500 1,500 15,000 21,040 26,400 1,200 130,000 12,900 250,000 56,000 16,000 132,760 10,240 $ 28,728 33,291 21,452 1,405 5,233 3,534 12,982 2,286 1,928 2,042 458 35 720 3,547 437 1,550 494 459 625 1,804 8,108 131,118 12,160 15,000 21,040 26,400 1,496 130,000 20,870 249,662 55,924 15,978 150,017 12.097 Continued 687,700 710,644 -27- EXHIBIT A -2 (Continued) Variance - Favorable (Unfavorable) $ 12,802 6,679 (312) (545) 127 386 (232) 8,090 714 72 558 42 1,465 1,453 5,514 1,563 550 236 150 641 675 156 (108) 40,676 2,500 1,500 (296) (7,970) 338 76 22 (17,257) (1,857 (22,944 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Data services: Systems analyst /programmer Data technician Taxes - ESC Taxes - FICA Group insurance Retirement Termination reserve Telephone and telegraph Office rent Equipment rental Professional development Professional services Printing and publication Office supplies Publications and dues Advertising and hearings Repairs and maintenance Equipment lease /purchase Furniture and fixtures Machinery and equipment Outer Continental Shelf: OCS coordinator Extra help /overtime Taxes - ESC Taxes - FICA Group insurance Retirement Telephone and telegraph Office rent Professional development Professional services Advertising and hearings Printing and publication Travel and per diem Office supplies Publications and dues Repairs and maintenance Continued Budget Actual $ 34,873 22,040 570 3,440 2,610 7,210 1,800 1,500 2,757 3,500 5,000 10,000 50 5,000 200 300 11,100 5,160 3,500 110.000 230,610 18,450 2,450 285 1,220 260 2,340 1,600 2,755 470 10,000 550 2,200 5,000 1,320 1,100 $ 27,290 17,045 1,254 2,658 1,303 5,596 1,130 1,240 9,436 4,025 15,679 9 4,511 191 183 11,822 5,727 2,460 96.892 208,451 19,150 299 938 405 2,140 952 32 254 795 727 152 124 50,000 25,968 -28- EXHIBIT A -2 (Continued) Variance - Favorable (Unfavorable) $ 7,583 4,995 (684) 782 1,307 1,614 670 260 2,757 (5,936) 975 (5,679) 41 489 9 117 (722) (567) 1,040 13,108 22,159 (700) 2,450 (14) 282 (145 ) 200 648 2,755 470 10,000 518 1,946 4,205 593 948 (124 24,032 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND } CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Coastal Zone Management: CZM coordinator Secretary Taxes - ESC Taxes - FICA Group insurance Retirement Auto allowance Telephone and telegraph Office rent Professional services Advertising and hearings Travel and per diem Office supplies Printing and publication Budget Actual $ 18,663 20,050 570 2,560 770 4,880 1,000 2,757 55,000 800 6,000 750 1,200 $ 19,150 16,699 659 1,937 1,120 4,437 152 1,613 72,293 122 4,924 658 1,338 Buildings and grounds: Telephone and telegraph Insurance and bonding Repairs and maintenance Janitorial Snow removal Utilities Construction /remodeling Assembly chambers renovation General administration: Secretary Contingency Workmen's compensation Insurance and bonding Automobile repairs and maintenance Bad debts Audit and consultants Capital outlay: Automotive Miscellaneous Contribution to Chamber of Commerce 115,000 1,000 8,500 55,000 50,000 8,000 78,000 335,000 31,000 566,500 21,189 27,500 15,400 6,060 55,000 29,640 5,500 5,514 165,803 125,102 463 3,374 47,392 56,666 8,000 68,057 72,597 18,608 275,157 600 18,262 17,762 5,685 17,740 58,113 29,843 3,880 5,514 157,399 EXHIBIT A -2 (Continued) Variance - Favorable (Unfavorable) $ (487) 3,351 (89) 623 (350) 443 (152) (613) 2,757 (17,293) 678 1,076 92 (138 ) (10,102 537 5,126 7,608 (6,666) 9,943 262,403 12,392 291,343 (600 ) 21,189 9,238 (2,362) 375 (17,740) (3,113) (203) 1,620 8,404 Continued -29- EXHIBIT A -2 Fund balance, July 1, 1981 3,407,234 Equity transfer (9,624 Fund balance, June 30, 1982 $5,468,559 i -30- KODIAK ISLAND BOROUGH (Continued) GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Variance - Favorable Budget Actual (Unfavorable) Education support: Library $ 35,000 $ 44,615 $ (9,615) Community college 17,000 17,000 - School insurance 160,000 111,708 48,292 f � Village libraries 12,000 12,000 1 Buildings and equipment 51,505 44,202 7,303 275,505 229,525 45,980 Total expenditures 3,186,310 2 551,218 Other financing uses: Operating transfers out: Mental Health Center Special Revenue Fund 15,000 15,000 - Education Special Revenue Fund (annual School District appropriation) 1,326,565 676,922 649,643 Debt Service Fund 29,630 29,630 1980 School Bond Improvements Capital Projects Fund 270,000 315,000 (45,000) School Projects Capital Projects Fund 161,495 161,495 - Hospital Improvements Capital Projects Fund 60,000 60,000 - Total other finan- cing uses 1,862,690 1,258,047 604,643 Total expenditures and other financing uses 5,049,000 3,893,139 1,155,861 Excess of revenues and j other sources over expenditures and other uses $ - 2,070,949 $2,070,949 Fund balance, July 1, 1981 3,407,234 Equity transfer (9,624 Fund balance, June 30, 1982 $5,468,559 i -30- Special Revenue Funds Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than major capital projects) that are legally restricted to expenditures for specific purposes. The Borough maintains individual Special Revenue Funds for the following legally established Service District areas: Fire District Number 1 Karluk Fire District Roads and Utility Improvements District Number 1 Bell Flats Road District The Borough maintains individual Special Revenue Funds for the following intergovernmental grants and contracts: Mental Health Day Care (closed -in fiscal year 1982) Federal Shared Revenues J Energy Grant R The Borough also maintains an individual Special Revenue Fund for the Borough Land Sales. The financial activity of the Kodiak Island Borough School District is consolidated for presentation as a Special Revenue Fund (Education Fund) in these f inanciaL statements. I KODIAK ISLAND BOROUGH ALL SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET June 30, 1982 Fire, Road and Utility Improvement Districts' Funds: Roads and Fire, Fire, Utilities, Land Sales Number 1 Karluk Number 1 ASSETS Cash and investments: Equity in central treasury $ 46,525 $77,660 $ 83 $57,547 Other cash balances 3,460 - - - Temporary cash investments 650,000 - - - Receivables: Due from Federal government - - - - Due from State of Alaska - - - - Land contracts due within one year 49,860 - - - Other accounts receivable (less allowance for doubtful accounts) 12,293 - - - Other assets: Inventory of school related materials and supplies - - - - Land contracts due after one year 1,952,243 - - - Total assets $2,714,381 $77,660 $ 83 $57,547 LIABILITIES AND FUND jALANC23 Amount overdrawn on central treasury $ - $ - Accounts and contracts payable, including retainage 31,269 - - - Accrued liabilities - - - - Deferred revenue 2,022,103 - - - Total liabilities 2,053,372 - - - Fund balances: Reserved for encumbrances 171,703 - - - Unreserved: Designated for subse- quent year's operations - - 83 57,547 Undesignated 489,306 77,660 - - Total fund balances 661,009 77,660 83 57,547 Total liabilities and fund balances $2,7 $77,660 $ 83 $57,547 -31- EXHIBIT B -1 Federal and State Grants Programs' Funds: Road, Federal Bell Mental Shared Energy Flats Health Revenues Grant Education Total $47,922 $ - $ 97,963 $ - $ - $ 327,700 - 87,401 - - 35,388 126,249 42,801 - - 692,801 - 37,636 16 148,601 202,635 - 20,558 - 102,174 876,884 999,616 49,860 63,686 - - 12,293 88,272 189,210 189,210 - - - - 1,952,243 $47,922 $214,446 $135 $118,572 11,262,376 $4,628,586 $111,292 $ 85,130 $ 196,422 4,218 - 7,280 85,207 127,974 15,680 - 955,015 970,695 - - - 15,323 2,037,426 - 19 - 118,572 1,140,675 3,332,517 3,643 47,922 - 101,410 - 194,548 34,189 (3,643 47,922 194,548 135,599 $47,922 $214,446 $135,599 $118,572 90,029 265,375 - . 206,962 31,672 823,732 121,701 1,296,069 $1,262,376 $4,628,586 XODIAK ISLAND BOROUGH j ALL SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES June 30, 1982 Fire, Road and Utility i Improvement Districts' Funds: Roads and Road. Land Fire, Fire, Utilities, Bell Sales Number 1 garluk Number 1 Flat: Revenues: - Property taxes $ - $112,369 $ - $ - $ 27,7: Intergovernmental: Federal - - - - State 187,500 18,560 - 18,734 33,1(. 1 Land sale proceeds kj received 151,534 - - - Licenses, ,permits, fees, and other local revenue 20 - - - Revenue from investments and property 255,383 - - - Total revenues 594,437 130,929 - 18,734 60,9: Other financing sources: Operating transfers in - - - - __ Total revenues and other financing -� sources 594,437 130,929 - 18 60,9: Expenditures: Capital improvements: f General improvements 131,851 - - - Service district maintenance - 93,000 1,250 26,408 90,9; Planning and community development 29,173 - - - Health and sanitation - - - - Education - - - - Total expenditures 161,024 93,000 1,250 26,408 90,9 Other financing uses: Operating transfers out - - - - Total expenditures and other financing a uses 161,024 93,000 1,250 26,408 90,9: Excess (deficiency) of revenues and other sources over expendi- tures and other uses 433,413 37,929 (1,250) (7,674) (30,0 Fund balances (deficit), July 1, 1981 227,596 39,731 1,333 65,221 77,9 Equity transfer - - - - Fund balances, June 30, 1982 $661,009 $ 77,660 $ 83 $57,547 $ 47,9 -32- EXHIBIT B -2 Federal and State Grants Proarams' Funds: Federal Mental Shared Energy Health Day Care Revenues Grant - - 140 24 266,689 - - 148 137,479 - 8,703 412,871 140,475 173,617 15,000 - - - 427,871 140,475 173,617 370,654 - 20,000 173,617 - - 67,600 - - - 19,000 - 370,654 - 106,600 173,617 370,654 - 106,600 173,617 57,217 - 33,875 Education Total $ - $ 140,093 1,062,411 1,227,832 11,355,152 12,028,496 - 151,534 307,942 445,441 264 12,725,505 14,257,482 676,922 691,922 13,402,427 14,949,404 131,851 211,589 593,444 - 67,600 12,644 139 12,663,139 12,644,139 13,667,623 713,817 713,817 13 14,381,440 44,471 567,964 137,331 (9,624) 101,724 - 77,230 718 - 9,624 - - - 9,624 >194 $ - $135,599 $ - $ 121,701 $ 1,296,069 KODIAR ISLAND BOROUGH LAND SALES FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 EXHIBIT B -3 -33- Variance - Favorable Budget Actual (Unfavorable) Revenues: Intergovernmental: I State grant $190,110 $187,500 $ (2,610) Land sales proceeds received 195,390 151,534 (43,856) Licenses, permits, fees, and other local revenue: Recording fees - - 20 20 Revenues from investments and property: Interest income 52,000 217,228 165,228 Gravel sales - 38,155 38,155 Total revenues 437,500 594,437 156,937 Expenditures: Capital improvements: General improvements: Survey and appraisal 225,000 46,115 178,885 Improvements 162,500 82,933 79,567 Support costs 2,803 (2,803 387,500 131,851 255,649 Planning and community development: Land management 50,000 29,173 20,827 Total expenditures 437,500 161,024 276,476 Excess of revenues over expenditures S $ - 433,413 $433,413 Fund balance, July 1, 1981 227,596 Fund balance, June 30, 1982 $661,009 -33- KODIAK ISLAND BOROUGH FIRE NUMBER 1 (SERVICE DISTRICT) FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 Revenues: Property taxes Intergovernmental: State Shared Revenue Total revenues Expenditures: Capital improvements: Service District maintenance: Contracted services Fire hydrant rental Total expenditures Excess of revenues over expenditures Fund balance, July 1, 1981 Fund balance, June 30, 1982 EXHIBIT B -4 Variance - Favorable Budget Actual (Unfavorable) $93,000 $112,369 $19,369 18,560 18,560 93,000 130,929 37,929 85,800 93,000 (7,200) 7,200 - 7,200 93,000 93,000 - $ - 37,929 $37,929 39,731 $ 77,660 -34- KODIAK ISLAND KARLUK FIRE (SERVICE STATEMENT OF REVENUES, CHANGES IN FUND BALANCE For the year ended Expenditures: Capital improvements: Service District maintenance: Equipment repairs and maintenance Total expenditures Excess (deficiency) of revenues over expenditures Fund balance, July 1, 1981 Fund balance, June 30, 1982 EXHIBIT B -5 BOROUGH DISTRICT) FUND EXPENDITURES AND - BUDGET AND ACTUAL Tune 30, 1982 Variance - Favorable Budget Actual (Unfavorable) $ 1,250 $ 1,250 $ - 1,250 1,250 - $(1 ,2 5 0) (1,250) $ 1,333 $ 83 -35- 1 EXHIBIT B -6 KODIAK ISLAND BOROUGH ROADS AND UTILITY IMPROVEMENTS NUMBER 1 (SERVICE DISTRICT) FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL For the year ended June 30, 1982 Revenues: Intergovernmental: State Shared Revenue Total revenues Expenditures: Capital improvements: Service District maintenance: Contracted services Advertising and public hearings Total expenditures Excess (deficiency) of revenues over expenditures Fund balance, July 1, 1981 Fund balance, June 30, 1982 Budget Actual $ 9,000 9,000 $18,734 18,734 74,000 74,000 $(65 ,000) 26,346 62 26,408 (7,674) 65,221 $57,547 Variance - Favorable (Unfavorable) $ 9,734 9,734 47,654 (62 47,592 $ 57,326 -36- EXHIBIT B -7 KODIAK ISLAND BOROUGH BELL FLATS ROAD IMPROVEMENTS (SERVICE DISTRICT) FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 "37- Variance - Favorable Budget Actual (Unfavorable) Revenues: Property taxes $ 45,850 $ 27,724 $(18,126) Intergovernmental: State Shared Revenue - 33,190 33,190 Total revenues 45,850 60,914 15,064 Expenditures: Capital improvements: Service District maintenance: Contracted services 123,750 90,895 32,855 Advertising and public hearings - 36 (36 Total expenditures 123,750 90,931 32,819 Excess (deficiency) of revenues over t expenditures $(77,90 (30,017) $ 47,883 Fund balance, July 1, 1981 77,939 i Fund balance, June 30, 1982 $ 47,922 "37- KODIAK ISLAND BOROUGH MENTAL HEALTH FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 EXHIBIT B -8 -38- Variance - Favorable Budget Actual (Unfavorable) Revenues: Intergovernmental: State grant $258,700 $266,689 $ 7,989 Licenses, permits, fees and other local revenue: User fees, organizations 69,137 80,675 11,538 User fees, individuals 30,304 56,804 26,500 358,141 404,168 46,027 Revenues from investments and property: Interest income 2,000 8,703 6,703 Total revenues 360,141 412,871 52,730 Other financing sources: Operating transfers in 15,000 15 - Total revenues and other financing sources 375,141 427,871 52,730 Expenditures: Health and sanitation: Mental health program: i Personnel 304,243 289,049 15,194 Travel 15,000 11,863 3,137 Facility 18,700 19,587 (887) ' Supplies 8,360 9 (733) Equipment 4,790 4,119 671 Other 24,048 36,943 (12 Total expenditures 375,141 370,654 4,487 Excess of revenues and other sources over expenditures $ - 57,217 $ 57,21? Fund balance, July 1, 1981 i 137,331 Fund balance, June 30, 1982 $194,548 -38- KODIAK ISLAND BOROUGH FEDERAL SHARED REVENUES FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 Revenues: Intergovernmental: Federal Shared Revenue entitlement payments Total revenues Expenditures: Planning and community development: Women's Resource Center contribution Health and sanitation: Council on Alcoholism contribution Residential Treatment Program contribution Small World Center contribution Senior Citizen Support contribution Education: Kodiak Community College contribution Village Libraries E contribution Total expenditures Excess (deficiency) of revenues over expenditures Fund balance, July 1, 1981 Fund balance, June 30, 1982 EXHIBIT B -9 Variance - Favorable Budget Actual (Unfavorable) $ 5,190 5,190 $140 140,475 $135,285 135,285 20,000 12,600 10,000 30,000 15.000 67,600 13,000 6,000 19,000 106,600 $(101,410 -39- 20,000 12,600 10,000 30,000 15.000 67,600 13,000 6,000 19,000 106,600 33,875 101,724 $135,599 $135,285 KODIAK ISLAND BOROUGH ENERGY GRANT FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 Revenues: Intergovernmental: Federal Coastal Energy Impact Program grant State of Alaska, Department of Commerce and Economic Development grant Total revenues Expenditures: Planning and community development: Preventative maintenance computer program Facility energy management control Facility design analysis Maintenance and operations manual Fuel delivery Work force study Incentive program Wind turbine Energy conservation analysis Solid waste disposal facility design Outer Continental Shelf impact analysis Total expenditures Excess of revenues over expenditures Fund balance, July 1, 1981 Fund balance, June 30, 1982 Budget Actual EXHIBIT B -10 Variance - Favorable (Unfavorable) $ 62,000 $ 24,946 $(37,054) 210,000 148,671 - ( - 61 , 329 . ) 272,000 173,617 (98 30,200 10,622 19,578 50,805 38 12,385 66,700 77 (10,694) 110 106 4 16,200 6,231 9,969 39,000 13,289 25,711 4,200 85 4,115 2,785 2,694 91 - (170) 170 25,000 24,946 54 37,000 - 37,000 272,000 173,617 98,383 $ - - $ - -40- KODIAK ISLAND BOROUGH EDUCATION FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 Revenues: Intergovernmental: Federal State Licenses, permits, fees and other local revenue: Food sales Pupil activities Other local revenue Total revenues Other financing sources: Operating transfers in: General Fund Total revenues and other financing sources Continued EXHIBIT B -11 1,365,629 676,922 (688,707 14,160,922 13,402,427 -41- (758,495 Variance - Favorable Budget Actual (Unfavorable) $ 1,060,234 $ 1,062,411 $ 2,177 11,565,209 11,355,152 (210,057 12,625,443 12,417,563 (207,880 116,145 84,973 (31,172) 6,000 189,537 183,537 47,705 33 (14,273 169,850 307,942 138,092 12,795,293 12,725,505 (69,788) 1,365,629 676,922 (688,707 14,160,922 13,402,427 -41- (758,495 EXHIBIT B -11 KODIAK ISLAND BOROUGH (Continued) EDUCATION FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued) For the year ended June 30, 1982 Expenditures: Education: Regular instruction Vocational instruction Correspondence Special education Bilingual /bicultural Other special programs Support services - pupil: Attendance Guidance Health services Child study team Boarding home Other Support services - instruction General support services Food services Operation and maintenance Pupil transportation Community services Non - programmed charges Pupil activities Total expenditures Other financing uses: Operating transfers out: School Bonds Debt Service Fund Total expenditures and other financing uses Excess of revenues and other sources over expenditures and ' other uses Fund balance, July 1, 1981 Fund balance, June 30, 1982 Variance - Favorable Budget Actual (Unfavorable) $ 4,453,623 791,944 153,799 851,402 146,130 357,619 $ 4,413,330 749,416 138,863 823,302 136,071 342,393 $ 40,293 42,528 14,936 28,100 10,059 15,226 21,383 202,142 83,480 110,794 57,547 107,627 687,041 1,661,596 270,033 2,772,996 318,569 48,724 62,976 287.680 13,447,105 21,083 198,455 77,518 116,998 49,177 101,283 586,941 1,606,517 219,132 2,324,243 290,701 49,979 1,041 397.696 12,644,139 713,817 713,817 14,160,922 13,357,956 -42- 44,471 77,230 $ 121 300 3,687 5,962 (6,204) 8,370 6,344 100,100 55,079 50,901 448,753 27,868 (1,255) 61,935 (110,016 802,966 802,966 $ 44,471 Debt Service Funds Debt Service Funds are used to account for the accumu- lation of resources for, and the payment of, general long -term debt principal, interest and related costs. The Borough has the following individual Debt Service Funds: Hospital Term Bond School Bonds KODIAK ISLAND BOROUGH ALL DEBT SERVICE FUNDS COMBINING BALANCE SHEET June 30, 1982 ASSETS Cash and investments: EXHIBIT C -1 Hospital Bond Debt School Bonds Service Debt Service Fund Fund $180,438 255,000 $435,438 Equity in central treasury $ 20,163 $160,275 Temporary cash investments 255,000 - Total assets $275,163 $160,275 FUND BALANCE Fund balance: Designated for subsequent year's expenditures $275,163 $160,275 $435,438 -43- KODIAK ISLAND BOROUGH ALL DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES For the year ended June 30, 1982 Hospital Bond Debt Service Fund Revenues: Revenues from investments and property: Interest income $ 35,208 Total revenues 35,208 Other financing sources: Operating transfers in: Education Fund - General Fund 29,630 1980 School Bond Improvements F Capital Projects Fund - t ! Total other financing sources 29,630 Total revenues and other financing sources 64,838 Expenditures: Debt service: Principal - Interest 14,625 Fiscal agent fees 50 Total expenditures 14,675 Excess (deficiency) of revenues and other financing sources over expenditures 50,163 Fund balances, July 1, 1981 225,000 Fund balances, June 30, 1982 $275,163 School Bonds Debt Service Fund 713,817 391,552 1,105,369 1,105,369 220,000 1,679,854 1,058 1,900,912 (795,543) 955,818 $ 160,275 EXHIBIT C -2 Total $ 35,208 35,208 713,817 29,630 391,552 1,134,999 1,170,207 220,000 1,694,479 1,108 1,915,587 (745,380) 1,180,818 $ 435,438 -44- KODIAK ISLAND BOROUGH HOSPITAL BOND DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 Revenues: Revenues from investments and property: Interest income Other financing sources: Operating transfers in: General Fund Total revenues and other financing sources Expenditures: Debt service: Principal Interest Fiscal agent fees Total expenditures Excess of revenues and other financing sources over expenditures Fund balance, July 1, 1981 Fund balance, June 30, 1982 EXHIBIT C -3 Variance - Favorable Budget Actual (Unfavorable) $ - $ 35,208 $ 35,208 29,630 29,630 - 29,630 64,838 35,208 15,000 - 14,.630 14 50 29,630 14,675 15,000 5 (50 ) 14,955 $ - 50,163 225,000 $275,163 $ 50,163 -45- KODIAK ISLAND BOROUGH SCHOOL BONDS DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the year ended June 30, 1982 n Other financing sources: Operating transfers in: Education Fund 1980 School Bond Improvements Capital Projects Fund Total other financing sources Variance - Favorable Budget Actual (Unfavorable) $ 612,450 $ 713,817 $ 101,367 1,292,750 391,552 (901,198 EXHIBIT C -4 1,905,200 1,105,369 (799,831 Expenditures: Principal 220,000 220,000 - Interest 1,679,860 1,679,854 6 } Fiscal agent fees 5, 340 _ 1,05 4,282 Total expenditures 1,905,200 1,900,912 4,288 Excess (deficiency) of revenues and other financing sources over expenditures Fund balance, July 1, 1981 Fund balance, June 30, 1982 (795,543) $(795,543 -46- 955,818 $ 160,275 a Capital Projects Funds 1 f Capital Projects Funds are used to account for finan- cial resources to be used for the acquisition or construction of major capital facilities. Funds: The Borough has the following Capital Projects A. Related to school facility improvements: School projects 1980 School bond improvements Ouzinkie School electrification B. Related to other (non - school) improvements: Parks and local service roads and trails Hospital improvements Utility improvements - Service District 1 Sawmill /Lakeview Road Roads and parking lot Public safety buildings and equipment 7 In addition, the financial resources of various com- pleted projects of prior years are maintained in a single Capital Project Fund (Other Projects) pending ultimate disposition of the remaining balances. KODIAK ISLAND BOROUGH ALL CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET June 30, 1982 Parks and Local Service Roads School and Trails Projects ASSETS Cash and investments: Equity in central treasury $ - Other cash balances - Temporary cash investments - Receivables: Due from Federal government - Due from State of Alaska 47,114 Other accounts receivable: Interest accrued - Total assets $47,114 LIABILITIES AND FUND BALANCES Amount overdrawn on central treasury $11,016 Accounts and contracts payable, including retainage: Trade accounts Contracts Retainages Accrued liabilities Deferred revenue Total liabilities Fund balances (deficits): Reserved for encumbrances 25 Designated for subsequent year's expenditures 35,508 Total fund balances (deficit) 35,533 Total liabilities and fund balances $47,114 -47- 1980 Ouzinkie School Bond School Improve- Electri- ments fication $ 548,453 $ 304,093 $ - 277 1,000,000 7,000,000 - 47,640 - 3,742 148,880 $ 1,599,835 $7,453,250 $ $ 2,168 2,176 - 708,584 - 518,232 - 3,348 - 1,232,340 2,168 1,988,535 3,364,118 5,207 (1,110,587 2,856,792 7( ,375 877,948 6,220,910 (2,168 $ 1,599,835 $7,453,250 $ - 188,592 565 - - 533,295 11,581 721,887 EXHIBIT D -1 Public Utility Safety Hospital Improvements Sawmill/ Roads and Buildings Improve- (Service Lakeview Parking and Other ments District #1) Road Lot Equipment Projects Total 3 $ 593,982 $116,200 $346,496 $188,152 $215,962 $ 2,313,33 - - - - - 27 8,000,00 178,631 104,350 9,727 - 178,63 50,000 258,83 $282,981 - - - - - 152,62 $ 603,709 $116,200 $346,496 $188,152 $265,962 $10,903,69 $258,068 $ 6,906 138,083 8,300 - 455,642 273,274 593,725 19,020 621,034 (9,313 (611,050 9,707 9,984 $282,981 $ 603,709 271,25 - - - - 2,17 - - - 50,000 1,092,16 - - - 6,410 532,94 - - - - 3,91 116,200 346,496 188,152 110,830 1,750,61 116,200 346,496 188,152 167,240 3,653,06 - 3,496 6,000 1,850 6,009,28 - _ (3 (6,000 96,872 1,241,35 - - - 98,722 7,250,63 $116,200 $346,496 $188,152 $265 $10,903,69 KODIAK ISLAND BOROUGH ALL CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES (DEFICIT) For the year ended June 30, 1982 Parks and -48- Local 1980 Ouzinkie Service School Bond School Roads School Improve- Electri- and Trails Projects ments fication Revenues: Intergovernmental: Federal $ - $ - $ - $ - State 97,015 423,543 - 10,034 Revenues from invest- ments and property - 27,659 1,510,876 - Total revenues 97,015 451,202 1,510,876 10,034 Other financing sources: operating transfers in - 161,495 315,000 - Total revenues and other financing sources 97,015 612,697 1,825,876 10,034 Expenditures: Capital improvements: Construction and design: School facilities - 385,481 6,707,134 - Other facilities - - - 12,202 Other - - - - Planning and community development 104,508 - - - Total expenditures 104,508 385 6,707,134 12,202 Other financing uses: Operating transfers out - - 391,552 - Total expenditures and other financing uses 104,508 385,481 7,098,686 12,202 Excess (deficiency) of revenues and other sources over expendi- tures and other uses (7,493) 227,216 (5,272,810) (2,168) Fund balances, July 1, 1981 43,026 650,732 11,493,720 - Fund balances (deficit), June 30, 1982 $ 35,533 $877,948 $ 6,220,910 $(2,168 -48- EXHIBIT D -2 - - - - - - 7,092,615 165,991 258,118 - - - 110,669 546,980 57,972 - - - - 4,769 62,741 - - - 1,504 11,849 (241 117,620 223,963 258,118 - 1,504 11,849 115,197 7,819,956 - - - - - - 391,552 223,963 258,118 - 3 .,504 11,849 115,197 8,211,508 7,183 1,435 - - - 241 Public 2,524 8,549 - - - 98,481 Utility $ 9,707 Safety $ - $ - $ 98,722 $ 7,250,636 Hospital Improvements Sawmill/ Roads and Buildings Improve- (Service Lakeview Parking and Other ments District #1) Road Lot Equipment Projects Total $ 63,895 $ - $ - $ - $ - $ - $ 63,895 107,251 259,553 - 1,504 11,849 115,438 1,026,187 - - - - - - 1,538,535 171,146 259,553 - 1,504 11,849 115,438 2,628,617 60,000 - - - - - 536,495 231,146 259,553 - 1,504 11,849 115,438 3,165,112 - - - - - - 7,092,615 165,991 258,118 - - - 110,669 546,980 57,972 - - - - 4,769 62,741 - - - 1,504 11,849 (241 117,620 223,963 258,118 - 1,504 11,849 115,197 7,819,956 - - - - - - 391,552 223,963 258,118 - 3 .,504 11,849 115,197 8,211,508 7,183 1,435 - - - 241 (5,046,396 2,524 8,549 - - - 98,481 12,297,032 $ 9,707 $ 9,984 $ - $ - $ - $ 98,722 $ 7,250,636 I