CAFR FY1986KODIAK ISLAND BOROUGH
Kodiak, Alaska
Comprehensive Annual Financial Report
For Year Ended
June 30, 1986
Prepared by:
Department of Finance
Bryce S. Weeks
Finance Director
TABLE OF CONTENTS
INTRODUCTORY - SECTION 1
Page Exhibit
Borough Officials
Boards and Committees
Map of Kodiak Island Borough
Organizational Chart iv
Letter of Transmittal v
FINANCIAL - SECTION 2
Report of Certified Public Accountants
1
Combined Financial Statements:
Combined Balance Sheet - All Fund Types and Account Groups
3 A
Combined Statement of Revenues, Expenditures and
29 1
Changes in Fund Balances - Governmental Fund Types
7 B
Combined Statement of Revenues, Expenditures and
30 2
Changes in Fund Balances - Budget and Actual -
General Fund, Special Revenue Funds and Debt Service Funds
8 C
Statement of Revenues, Expenses and Changes in Retained
Earnings - Proprietary Fund Type - Enterprise Funds
10 D
Statement of Changes in Financial Position -
Proprietary Fund Type - Enterprise Funds
11 E
Notes to Combined Financial Statements
12
Schedule
Combining, Individual Fund and Account Group Financial Statements:
Governmental Fund Types:
General Fund:
Balance Sheet
29 1
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balance - Budget and Actual
30 2
Statement of Expenditures and Transfers -
Budget and Actual
32 3
Special Revenue Funds:
Combining Balance Sheet
40 4
Combining Statement of Revenues, Expenditures,
Transfers and Changes in Fund Balances
42 5
Statement of Revenues, Expenditures and Changes
in Fund Balance (Deficit) - Budget and Actual:
Land Sales
44 6
Borough /City Joint Census
45 7
TABLE OF CONTENTS
Page Schedule
Fire and Road Service Districts:
Fire:
Area 1
46
8
Women's Bay
47
9
Road:
Monashka Bay
48
10
District 1
49
11
Women's Bay
50
12
Federal and State Grant Programs:
Federal Revenue Sharing
51
13
Mental Health Center
52
14
Energy
53
15
Day Care
54
16
Education
55
17
Buildings and Grounds
56
18
Debt Service Funds:
Combining Balance Sheet
57
19
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
58
20
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual:
Hospital Bond
59
21
School Bonds
60
22
Other Debt Service
61
23
Capital Projects Funds:
Combining Balance Sheet
62
24
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
64
25
Schedule of Capital Projects
66
26
Proprietary Fund Type - Enterprise Funds:
Combining Balance Sheet
68
27
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings
70
28
Combining Statement of Changes in Financial Position
71
29
Water and Sewer:
Balance Sheet
72
30
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
73
31
Statement of Changes in Financial Position
74
32
TABLE OF CONTENTS
Page Schedule
Hospital:
Balance Sheet 75 33
Statement of Revenues, Expenses and Changes in,Fund Equity 76 34
Statement of Changes in Financial Position 77 35
Trust and Agency Funds:
Combining Balance Sheet 78 36
Combining Statement of Changes in Assets,
Liabilities and Fund Balances 79 37
General Fixed
Assets Account Group:
Table
Statistical Tables:
Statement of
General Fixed Assets by Source
80
38
Statement of
General Fixed Assets by Function and Activity
81
39
Statement of
Changes in General Fixed Assets
3
Assessed and Estimated Actual Value of Taxable Property
by Function
and Activity
82
40
General Long -Term Debt Account Group:
Ten Largest Taxpayers
89
Statement of
General Long -Term Debt
83
41
STATISTICAL - SECTION 3
Table
Statistical Tables:
General Governmental Expenditures and Other Uses by Function
84
1
General Revenues by Source
85
2
Property Tax Levies and Collections
86
3
Assessed and Estimated Actual Value of Taxable Property
87
4
Property Tax Rates - All Overlapping Governments
88
5
Ten Largest Taxpayers
89
6
Ratio of Net General Bonded Debt
90
7
Computation of Direct and Overlapping Debt
91
8
Computation of Legal Debt Margin
92
9
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General Expenditures
93
10
Demographic Statistics
94
11
Salaries and Surety Bonds of Principal Officials
95
12
Summary of Debt Service Requirements to Maturity
96
13
General Obligation Bonds Outstanding:
Hospital, Series 1967
97
13a
Elementary School Building, Series 1967
98
13b
School Refunding Bonds, Series 1974A
99
13c
School Improvements, Series 1980A
100
13d
School Improvements, Series 1983A
101
13e
School Improvements, Series 1984B
102
13f
School Improvements, Series 1986
103
13g
School Refunding Bonds, Series 1974
104
13h
Property Value, Construction and Bank Deposits
105
14
Miscellaneous Statistical Data
106
15
BOROUGH OFFICIALS
Kodiak Island Borough
Year ended June 30, 1986
BOROUGH ASSEMBLY
Alan Austerman '88
Ann Barker '86
Eric Blankenburg '88
Ken Gregg '88
Edward F. Naughton '86
Martha Ruble '86
Lorne "Lonnie" White '88
BOROUGH MAYOR
Jerome M. Selby
RayCamardella ........................... .....................Facilities Coordinator
Charles E. "Bud" Cassidy .......... .......................Resource Management Officer
David C. Crowe .............................. ........................Borough Engineer
Pamela Delys- Baglien ................. .........................Mental Health Director
MickeyDuros .... ............................... .....................Purchasing Agent
LindaL. Freed .............................. .......................Planning Director
James Gingerich ........................ .......................Hospital Administrator
Wayne D. Haerer ....... ............................... .............Assessor /Appraiser
Jamin, Ebell, Bolger, Gentry . ....................(Contracted Firm) Borough Attorney
Perry L. Page ..................... ...........................Data Processing Manager
JeromeM. Selby .............................. ......................Personnel Officer
Earl A. Smith ... ............................... ...........................Fire Chief
Noreen Thompson ...................... ................Superintendent, School District
GayeVaughan .... ............................... ........................Borough Clerk
Bryce S. Weeks .................... ........................Finance Director /Treasurer
i
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Boards and Committees
Year ended June 30, 1986
Hospital Advisory Board (7
Ben Ardinger
*Tom Miller
Andy Cristaldi
Gretchen Saupe
Betty Springhill
Dr. Linda Williams
Ann Barker
Mental Health Center Advisory Board (9
*Vickie Hester
Maureen H. Eberhardt
Lonnie White
Josefina Barber
Barbara Popken
William Hogan
Jane Nuttall
Guy Powell
William C. Hogan
Monashka Bay Road Service District
Advisory Board (5)
Fran 'Bishop
*Bill Swearingin
William Elsberry
Dan Ogg
Paul Stubbe
Fire Protection Area #1
Advisory Board (6
*Scott Arndt
Bill Swearingin
Horace Simmons
Barbara Swearingin
Earl Smith, Fire Chief
William Wever
Kodiak Sanitary Landfill Committee (8
Lt. Cmdr. Lance Bryson
Norman Wooten
David Crowe
*Phil Anderson
Jim Ramaglia
Herman Beukers
Fred Patterson
Eric Blankenburg
Personnel Advisory Board (5
Kay Cox
*Marlys Buzby
Pat Larkin
Carol Smothers
Pat Szabo
Citizen Board of Equalization (5
Rick Brush
*Jack Mann
Joan Hughes
Dennis Johnson
Wayne Stevens
Jim Ashford, Alternate
Kyle Taylor, Alternate
Norman Sutliff, Alternate
Parks and Recreation
Committe (12
*DeboraFi L. Burgy
Lisette Alvarez
Jim Cobis
Ann Frederick
Robin Parker
Patrick Vaughan
Alan Austerman
Mary Lou Knudson
Ian Fulp
Ed Apperson
Judy Fulp
Robin Parker
Planning and Zoning
Commission (7)
Michae W. Anderson
Robin Heinrichs
Dan James
Marlin Knight
Mary Lou Knudson
*Steve Rennell
Scott Thompson
ii -1
Data Processing Steering
Committee (5
Perry L. Page
*Jerome M. Selby
Ken Gregg
Joyce Healy
Ann Hutcheson
Service District No. 1
Advisory Board (7)
Ed Van Feet
Patricia Szabo
Baine Cater
Norman D. Wooten
*Scott Arndt
Jim Poulos
Okey Chandler
Kodiak Island Transportation Study
Steering Committee (KITS) (6
John Pugh
Alan Austerman
Al Cratty
Jerome Selby
Sam Gesko, Jr.
Vacant
Building Code Board of Appeals (7)
Robin Heinrichs
Chuck Winegarden
Arthur Bors
*Reed Oswalt
Cliff Ford
Robert Hull
Vacant
School Board (8)
Judy Fulp
Suzanne Hancock
Alice Knowles
Dennis Murray
*Gary Stevens
Ann Hutcheson
Les Anderson
Ken Gregg
*Indicates Chair
ii -2
Outer Continental Shelf
Advisory Council (17
Alvin Burch
Duke Delgado
Lt. Sam Bromley
Reed Oswalt
Jeffrey Stephan
*Hank Pennington
Mark Buckley
Timothy Ward
Jeff Allen
Kathryn Kinnear
Linda Freed, Planning Director
Vacant (6)
Women's Bay Service District
Advisory Board (7)
William G. Williams
Ed Gondek
James Cobis
Dick Perkins
*Wayne Berry
Robert Terrant
John Burt
Architectural Review Board (10)
*Bill Beaty
Arthur Bors
Wayne Coleman
Cliff Ford
Robin Heinrichs
Chuck Winegarden
Suzanne Hancock
Martha Ruble
John Witteveen
Jerome Selby
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Kodiak IslandBorough
710 MILL BAY ROAD
KODIAK, ALASKA 99615.6340
PHONE (907) 486 -5736
To the Honorable Borough Mayor
and Borough Assembly
Kodiak Island Borough
Kodiak, Alaska
The Annual Financial Report of the Kodiak Island Borough (Borough), Kodiak,
Alaska for the fiscal year ended June 30, 1986 is submitted herewith.
ACCOUNTING SYSTEM AND REPORTS
The Borough's accounting records for general government operations are
maintained on a modified accrual basis, with the most important revenues being
recorded when earned and expenditures being recorded when incurred. Accounting
records for the Borough's utilities and other enterprise funds are maintained
on a full accrual basis. This report has been structured and compiled along
the guidelines laid down by the National Council on Governmental Accounting
(NCGA).
During the last fiscal year, we completed the conversion process from an IBM /34
to an IBM /38 System. This was a slow and laborious process that consumed a
period of one and one half years. The major delay was caused by the transition
from one data processing manager to the replacement with some six months
without either one. Some applications continue to need refinements or
enhancements to equal the late December 1983 level of efficiency, while other
new items have been added to allow greater use of the system by all
departments. This has substantially slowed our progress for the enhancements
desired to bring us to the level of accounting and reporting that we strive
for. The same high quality results will be realized but nearly two fiscal
periods later than originally envisioned.
The Government Finance Officers Association of the United States and Canada
(GFOA) awards a Certificate of Achievement in financial reporting to those
governments that meet their high standards of financial accounting and
reporting. Copies of this report will be submitted to that body for their
critical review.
v
November 24, 1986
GENERAL GOVERNMENTAL FUNCTIONS
Only the General Fund
of the
Kodiak Island Borough is considered
in the
following explanation of
general
governmental functions. Revenues for
general
governmental functions
totaled
$4,367,705, a decrease of 8.1% over
1985.
General property taxes
produced
47.3% of general revenues compared with
39.3%
in 1985. The amount
of revenues
from various sources and the increase
or
decrease over last year
are shown
in the following tabulation:
(2.4)
Revenue source and other
financing sources
Property taxes
Sales and use taxes
Other taxes
Licenses and permits
Intergovernmental revenue
Charges for services
Fines and forfeitures
Miscellaneous
Operating transfers
Assessed valuation of $406 million represented an increase of 3.04% over the
preceding year. The assessed value at January 1, 1984 relating to the fiscal
year 1985 is $394.6 million, a slight decrease over the prior year.
As part of the statistical section of this report, there is reported the tax
collection experience for the immediate past ten years. It may be interesting
to note that the rate of delinquency remains extremely low.
Expenditures and transfers for
$4,551,179, a decrease of 7.4% over
for major General Fund functions of
shown in the following tabulation:
Function
General government
Public safety
Public works
Health and sanitation
Education
Conservation and development
Operating transfers
general governmental purposes totaled
1985. Changes in levels of expenditures
the Borough over the preceding year are
Amount Percent
(thousands) of total
Increase (decrease)
over 1985
(thousands)
$1
34.9%
Increase (decrease)
Amount
Percent
over 1985
(thousands)
of total
(thousands)
1,662.9
$2,065.4
47.3%
$ 197.4
47.5
1.1
7.5
2,277.7
52.1
(86.3)
83.8
1.9
9.8
(106.7)
(2.4)
(514.7)
$4,367.7
100.0
$(386.3
Assessed valuation of $406 million represented an increase of 3.04% over the
preceding year. The assessed value at January 1, 1984 relating to the fiscal
year 1985 is $394.6 million, a slight decrease over the prior year.
As part of the statistical section of this report, there is reported the tax
collection experience for the immediate past ten years. It may be interesting
to note that the rate of delinquency remains extremely low.
Expenditures and transfers for
$4,551,179, a decrease of 7.4% over
for major General Fund functions of
shown in the following tabulation:
Function
General government
Public safety
Public works
Health and sanitation
Education
Conservation and development
Operating transfers
general governmental purposes totaled
1985. Changes in levels of expenditures
the Borough over the preceding year are
Amount Percent
(thousands) of total
Increase (decrease)
over 1985
(thousands)
$1
34.9%
$(122.3)
234.7
5.2
39.7
503.5
11.1
11.5
1,662.9
36.5
234.9
53.3
1.2
36.3
507.5
11.1
(807.5
$4,551.2
100.0
$(607.4
V-1
The fund balance of the General
periodically. Planned drawdowns
reduction and transfers to other
reasonable. As a result of these
balance at the close of the fiscal
1981
1982
1983
1984
1985
1986
CAPITAL IMPROVEMENTS FUND
Fund continues to undergo a critical review
have been budgeted and executed by tax
funds to keep the fund balance adequate and
actions, the following table reflects fund
years ended June 30:
$3,293,670
5,478,183
2,684,707
2,742,239
2,661,914
2,532,100
This fund has shown considerable growth in recent years which closely parallels
that of the population increase and their desire for expanded facilities and
services.
Recent projects of considerable magnitude were:
Kodiak
Old
Main /Auditorium
$10,500,000
Junior
High
Renovation
8,158,056
Kodiak
Main
Elementary
7,201,800
Kodiak
High
School
5,383,000
School
Asbestos
Abatement
2,750,000
Akhiok
Dock
Access Road
560,000
Significant current projects in progress are:
School Improvements Various $ 9,930,000
Solid Waste Facility 2,780,000
Selief Lane Extension 2,149,000
Areawide Road Projects 1,452,180
School Maintenance Shop 689,000
Hospital Design and
Development Work 1
The revenues to support the above projects were provided by a variety of
sources, the most significant being school bonds of $38.93 million in the
1980's. These bonds were issued in four increments of $12.1 million in August
1980, $7.4 million in June 1984, $9.5 million in May 1985 and $9.93 million in
June 1986. Equally important, but of a lesser concern to the average citizen,
are the many millions of dollars from the State of Alaska for a variety of
capital projects. Many of the capital projects are fully funded by the State.
v -2
LAND SALES FUND
The Borough has some 56,000 acres of land in various stages of reversion from
the Federal government to the State to the Borough 'and, ultimately, for sale to
individuals. Ten land sales have previously been held in the past and another
is tentatively planned for the Fall of 1986.
During the past year, the position of resource manager was authorized and has
been filled by Mr. Cassidy. This individual will work closely with the finance
department in identifying all available lands for sale and establishing such
land sales.
DATA SERVICES
In September 1983, an IBM System /38 was purchased and installed by the Kodiak
Island Borough to replace its existing IBM System /34. Existing IBM /38
configuration:
5381
CPU 2MB
3370
Storage 2MB
3411
Magnetic Tape Unit
3262
Printer
5225
Printer (2)
5256
Printer (High School)
5218
Printer (Clerk)
5251
Display Station (7)
5291
Display Station (4)
5291
PC /Display Station (4)
5292
PC /Display Station (2)
5224
Printer (Shipping /Receiving)
Several IBM PCs were purchased and are used in a dual purpose, as a standalone
computer and as a terminal connected to the IBM System /38.
A UPS (uninterruptable power supply) was purchased and installed to provide
backup electrical power in case power is lost. This will ensure that there are
no problems with the computer hardware or with the data files due to loss of
power.
v -3
Data services equally serve the Borough departments and the Kodiak Island
Borough School District.
Existing application:
Borough
P ayro 11
Utility Billing System
Financial Accounting System
Property Tax
Land Sale
Labels - Letters
Text Management
School District
Maintenance System
Financial System
Payroll System
Fixed Assets
Inventory
School Reporting System
Future applications:
Borough
Data Processing Job
New Fixed Assets System
Assessor's Appraisal System
School District
Preventive Maintenance
Integrated Financial System
The Data Processing Department is now staffed with three positions; a manager,
a programmer and an operator.
GENERAL FIXED ASSETS
The general fixed assets of the Borough are those fixed assets used in the
performance of general governmental functions and exclude the fixed assets of
utility and other enterprise funds. Depreciation is not recognized in the
Borough's accounting system other than in the enterprise funds.
The accountability for fixed assets of the Borough has been greatly facilitated
by the use of the computer programs. Currently, all fixed asset records are
maintained on an IBM PC and will become part of the integrated system in the
near future.
DEBT SERVI FUND
This fund was established to finance and account for the payment of principal
and interest on all general obligation debt other than that which is payable
exclusively from special assessments and revenue debt issued for and serviced
by a governmental enterprise.
v -4
DEBT ADMINISTRATION
The Statutes of the State of Alaska and the Code of the Kodiak Island Borough
do not establish a legal debt margin. Our debt capacity is determined by a
vote of the electorate and ultimately by the marketplace when debt is attempted
to be placed. The Borough's general obligation bonds are rated as follows:
Moody 's Standard
Investors Service and P oors
General obligation bonds BAA -1 BBB
General obligation refunding bonds BAA -1 AAA
General obligation variable rate 1984 MIG -1
General obligation variable rate 1986 AA + /A -1+
FEDERAL REVENUE SHARING
By virtue of the Federal General Revenue Sharing Act under Public Law 92 -512,
as amended by Public Law 94 -488, the Borough received approximately $52,500
(1985 - $30,900) each fiscal quarter.
INSURANCE - RISK MANAGEMENT
Risk management is a term used to describe all management activities directed
toward the control of risks. The methods used to establish this control are:
- Identification of risks
- Measurement of risks
- Elimination of or control of risks
- Self- assumption of certain risks through formal funding
- Transferring risks through the purchase of insurance
Insurance premium costs are no longer a minor expenditure item for the Borough.
In recent years, insurance premium costs have risen past the $125,000 line.
A year by year comparison is somewhat meaningless, without study, as some
years' records include refunds of unearned premiums of years past while others
do not, etc. I believe it suffices to say that we are talking big dollars.
The Assembly and staff are currently working on identification of risks as an
ongoing item so that appropriate management action may be taken to minimize
cost where possible.
v -5
CASH MANAGEMENT AND INVESTMENTS
Cash management is a strong point of your current treasurer. Monies,
naturally, cannot be invested until received. As simple as this is, few in
government stress this point. It was only a few years ago that several years
of unpaid taxes was not the exception. The forms were not prepared and
submitted promptly for drawdowns on State grants and other receivables were
handled in a like manner. All accounts of the Borough are now relatively
current and proper monitoring procedures are in place for timely receipt of any
amounts due. All funds are promptly deposited and any idle funds are invested
on the following day.
The Kodiak Island Borough has large sums of idle cash on a daily basis. This
is not to say that the Borough assesses and collects more tax than it needs or
floats bond issues when not necessary or things of that nature. It is to say
that due to the size and complexity of government, it is necessary to have
adequate funding in place to accomplish the assigned tasks.
The Borough treasurer operates as the central treasurer for all Borough, School
District and Mental Health Center monies. A cash pool concept is maintained
whereas all funds are self - balancing unique entities and each fund has its own
cash account which may on occasion show a "book overdraft" while others have an
excess of cash. In this manner, the Borough is able to fully invest all idle
funds without creating a "bank overdraft."
The Borough investment policy is far more restrictive than many governments.
The parameters in which we operate are as defined in Title 3, Chapter 4, of the
Borough Code. Basically, it states that we invest only in high grade
securities that are fully collateralized. Further, the collateral is to be
held by a third party bank.
INVESTMENT EARNINGS
During the year, the amount of idle public funds available for investment
ranged from a low of approximately $18 million to slightly over $25 million.
Interest yields realized on the investments we had placed ranged from a low of
5.5% for overnights (repurchase agreements) to a high of 9.68 %. We closed out
the year with investment earnings of $1,310,310.
INDEPENDENT AUDIT
The Borough Code requires an annual audit to be made of the books of account,
financial records, and transactions of all administrative departments of the
Borough by a certified public accountant selected by the Borough Assembly.
This requirement has been complied with and the auditor's opinion has been
included in this report.
v -6
PROSPECTS FOR FISCAL YEAR 1987
The Assembly of the Kodiak Island Borough has again adopted a balanced budget
for fiscal year 1987. This has been our policy for several years. In recent
years, we have adopted and executed a budget that is balanced by drawing down
on the fund balance, in particular, the General Fund. In this manner, the
Borough continues to have the resources available to do the tasks assigned
without an unusually high fund balance at year end.
This has resulted in holding the line and, in most cases, reducing the amount
of property tax assessment needed. Starting in 1981 and continuing have been
our efforts to collect those taxes and other receivables due to the Borough
promptly, thus negating the need to assess and collect additional monies from
those who pay promptly. At fiscal year end, uncollected taxes of all prior
years were only some $40,000 as contrasted to over a million dollars in 1981.
No plans have been formalized to ask the electorate to approve any future bond
issue. Some plans for possible bonding are in their infancy. The State has
granted the Borough $1 million for design and development of a new hospital.
Revenue bonds may be necessary to meet the funding requirements for this
project. Ideally, the necessary funds will come through another capital grant
from the State or a combination of grant and revenue bond proceeds.
The economy of Kodiak remains very healthy. We are in a good fishing season
and, while not as strong as a few years ago, preliminary reports tend to
suggest this will be another banner year.
Unfunded pension liabilities represent one of the most significant financial
problems that face many cities and counties of America today. Your Borough
staff, being acutely aware of this, has initiated legislation that has been
adopted by the Assembly to preclude this from being a problem that we will face
in the future. All unfunded past service costs of both the Borough and School
District pension funds have been fully liquidated.
ACKNOWLEDGEMENTS
I wish to express my appreciation to all the members of the finance department
for their efficient and dedicated service during the past year. I wish to
thank your office and the members of the Borough Assembly for their interest in
and support of the planning and conducting of the financial operations of the
Borough in a responsible and progressive manner.
Respectfully submitted,
B ce S. Wee
Director o Finance
v -7
h ink A MEMBER OF ARTHUR YOUNG INTERNATIONAL
Arthur Young
The Honorable Mayor and Borough Assembly
Kodiak Island Borough
1031 West Fourth Avenue, Suite 600
Anchorage, Alaska 99501
Telephone: (907) 279 -0422
We have examined the combined financial statements of the Kodiak Island
Borough (Borough) at June 30, 1986 and for the year then ended (Exhibits A
through E), as listed in the table of contents. Except as explained in the
following paragraph, our examination was made in accordance with generally
accepted auditing standards and, accordingly, included such tests of the
accounting records and such other auditing procedures as we considered
necessary in the circumstances. The financial statements of the Kodiak
Island Borough Hospital, a component unit of the Kodiak Island Borough, have
been examined by other independent auditors; insofar as our opinion on the
combined, combining, individual fund and account group financial statements
relates to data included for the Kodiak Island Borough Hospital, it is based
solely on their report. The statements of the Kodiak Island Borough Hospital
show assets and revenues that comprise 30% and 95 %, respectively, of the
Proprietary Fund Type Enterprise Funds.
The Borough did not maintain adequate records of the general fixed assets in
the general fixed asset group of accounts, stated at $160,166,011 in the
accompanying combined financial statements. Because the Borough's records do
not permit the application of adequate audit procedures, we are unable to and
do not express an opinion on the general fixed asset group of accounts as
included in the combined financial statements.
In our opinion, based on our examination and the report of the other
independent auditors, the combined financial statements referred to above,
other than the general fixed asset group of accounts, as discussed in the
preceding paragraph, present fairly the financial position of the Kodiak
Island Borough at June 30, 1986 and the results of its operations, and the
changes in financial position of its proprietary fund types for the year then
ended, in conformity with generally accepted accounting principles applied on
a basis consistent with that of the preceding year.
a Arthur Young
The Honorable Mayor and Borough Assembly
Kodiak Island Borough
Our examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole. The combining, individual
fund and account group financial statements (Schedules 1 through 41), as
listed in the table of contents, are presented for purposes of additional
analysis and are not a required part of the combined financial statements of
the Kodiak Island Borough. The information in Schedules 1 through 37 and
Schedule 41 has been subjected to the auditing procedures applied in the
examination of the combined financial statements and, in our opinion, based
on our examination and the report of the other independent auditors, is
fairly stated in all material respects in relation to the combined financial
statements taken as a whole. For the reasons discussed in the second
preceding paragraph, we are unable to and do not express an opinion on
Schedules 38 through 40 related to general fixed assets.
Statistical tables and data listed in the "Statistical Tables" of the
accompanying table of contents were not audited by us and, accordingly, we do
not express an opinion on them.
C/
September 26, 1986
KODIAK ISLAND BOROUGH
Combined Balance Sheet - All Fund Types and Account Groups
June 30, 1986
See accompanying notes.
3
Governmental
Fund Types
Special
Debt
Capital
General
Revenue
Service
Projects
ASSETS
Current assets:
Equities in central treasury
$ -
$2,755,027
$ 782,426
$ 1,822,966
Temporary investments
4,920,754
2,000,000
4,650,000
12,976,100
Other cash balances
1,508
31,079
2,428,664
-
Investment in deferred
compensation plan
-
_
_
_
Receivables:
State of Alaska
610,423
495,651
-
346,769
Federal government
-
344,845
-
_
Property taxes, net of allowance
for uncollectibles of $14,974 in
1986 and $20,000 in 1985
1,769,983
-
Land sales contracts,
due within one year
-
251,261
-
-
Other
96,559
258,537
83,727
235,592
Due from other finds
-
-
-
78,440
Inventories
-
224,616
-
-
Prepaid expenses
-
29,805
-
-
Restricted assets:
Temporary investments
-
-
Accrued interest receivable
-
Receivable from Lion Capital Group
-
-
Land sales contracts receivable,
due after one year
-
2,112,705
-
-
Long -term receivable from
Lutheran Hospitals and
Homes Society
-
-
Amount available to service
long -term debt in Debt Service Funds
-
Amount to be provided to service
long -term debt
Fixed assets in service
-
-
-
-
Accumulated depreciation
Construction work in progress
-
-
-
-
$7,399,227
$8,503,526
$7,944,817
$15,459,867
See accompanying notes.
3
Exhibit A
Proprietary
Fund Type -
Enterprise
$ 147,928
56,448
2,064,609
134,374
12,330
3,850,000
7,042
820,000
15,776,484
(2,029,581)
1,214,618
$22,054,252
Account Groups
Fiduciary General
Fund Type- Fixed General
Agency Assets Long -Term
Funds (Unaudited) Debt
76,680
238,093
2,289
S 317,062
159,029,291
1,136,720
$160,166,011
7,905,436
23,263,443
$31,168,879
Totals (memorandum only)
1986
1985
S 5,508,347
$ 4,041,333
24,546,854
18,913,516
2,594,379
2,984,728
238,093
133,716
1,452,843
859,595
344,845
30,947
1,769,983
1,668,649
251,261
227,307
2,741,313
1,493,809
78,440
376,691
358,990
327,033
42,135
21,501
3,850,000
1,997,787
7,042
52,951
-
2,000,000
2,112,705
2,407,539
820,000
885,000
7,905,436
7,120,565
23,263,443
18,751,194
174,805,775
69,631,243
(2,029,581)
(1,660,802)
2,351,338
13,08 0,449
$253,013,641 $145,344,751
4
KODIAK ISLAND BOROUGH
Combined Balance Sheet - All Fund Types and Account Groups, Continued
June 30, 1986
Governmental Fund Types
LIABILITIES AND Special Debt Capital
FUND EQUITIES General Revenue Service Projects
Liabilities:
Accrued annual leave
$ -
$ _
$ _ $ _
Bank overdraft
-
83,404
Advance from central treasury
3,058,732
5,610
39,381 -
Accounts payable
45,771
125,700
- 797,866
Retainage payable
-
-
- 379,331
Salaries payable
_
823,977
_ -
Payroll taxes and employee benefits
17,447
489,436
- -
Other accrued liabilities
3,405
160,110
- -
Customer deposits
-
300
- -
Deferred and unrealized revenues
1,741,772
2,416,662
- 1,966,312
Deferred compensation
_
_
_ _
Due to other funds
-
75,702
- -
Due to student organizations
-
_
_ _
Payable from restricted assets:
Advance from central treasury
-
_
_ _
Contracts payable
_
_
- _
Retainage payable
_
_
_ -
Unearned grant receipts
-
-
_ _
General obligation bonds payable
-
-
- -
Environmental Protection Agency loan
-
_
_ _
Total liabilities
4,867,127
35,381 3,143,509
Fund equities:
Contribution in aid of construction
-
-
- -
Investment in general fixed assets
-
-
- -
Retained earnings:
Designated:
Receivable from Lion Capital Group
-
-
- -
Undesignated
_
_
_ -
Fund balance:
Reserved:
Encumbrances
13,565
141,602
- 4,358,597
Fuel inventory
-
62,098
- -
Receivable from Lion Capital Group
-
-
- -
Unreserved:
Designated:
Working capital
900,000
-
- -
Subsequent year expenditures
1,618,535
500,000
7,905,436 7,957,761
Undesignated
-
3,618,925
- -
Total fund equities
2,532,100
16,3
$7,399,227
$8,503,526
$7,944,817 $15,459,867
See accompanying notes.
5
Exhibit A, Cont.
Proprietary
Fund Type -
Enterprise
50,088
168,641
4,812
6,720
1,697,440
128,157
149,110
1,405,859
14,859,855
3,583,570
r -
__ 8d
$22,054,252
Fiduciary
Fund Type -
Agency
Funds
S -
2,048
238,093
2,738
74,183
$ 317,062
Account Groups
General
Fixed General
Assets Long -Term
(Unaudited Debt
$ - S 128,879
30,665,000
375
160,166,011 -
76F =
Totals (memorandum onl
$ 128,879
$ 56,759
83,404
28,708
3,103,723
3,928,220
1,021,473
425,804
379,331
461,341
992,618
661,134
506,883
616,082
168,327
200,031
7,020
5,514
6,124,746
6,983,506
238,093
133,716
78,440
376,691
74,183
74,148
1,697,440
33,695
128,157
485,140
149,110
128,377
1,405,859
2,026,163
30,665,000
25,815,000
375
47,3Z7,
-
42440,029
14,859,855
12,147,436
160,166,011
68,752,625
-
1,000,000
3,583,570
1,547,138
4,513,764
4,297,371
62,098
72,000
-
1,000,000
900,000
900,000
17,981,732
9,152,536
3,_618,925
4,035,616
$253,013,641 $145,344,751
6
Exhibit B
KODIAK ISLAND BOROUGH
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Governmental Fund Types
Year ended June 30, 1986
Revenues:
Property taxes
Intergovernmental:
State sources
Federal sources
Land sale proceeds
Licenses, permits, fees and other
local revenues
Investments and property
Total revenues
Expenditures:
Current:
Borough Assembly
Mayor's department
Clerk's department
Finance department
Legal department
Assessment department
Community development department
Engineering department
Health and sanitation
Data services
Resource management
General administration
Building inspector's department
Emergency preparedness
Community and regional affairs liaison
Facilities coordinator department
Education support
Capital improvements:
General
Service district maintenance
Debt service
Total expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Proceeds of bond sales
Environmental Protection Agency loan
Operating transfers from other funds
Operating transfers to other funds
Net other financing sources (uses)
Excess (deficiency) of revenues and
other financing sources over
expenditures and other financing uses
Fund balances at beginning of year
Change in method of accounting for
annual leave
Adjustment to reserve for fuel inventory
Fund balances at end of year
5s$
1,593,995 5,561,750 (6,235,495 (3,334,536 (2,414,286 (3,934,805
9,668,184 9,668,184 =
375,000 375,000 -
53,660 1,356,610 7,034,116 1,615,544 10,059,930 9,227,198
1 777 469 7 068 711 13 750 1 10 0 9,227,198
0;804 (�,Tf�;T6� T,0�0; 6 728 IU,U4318 -
(129,814) (150,351) 784,871 7,124,192 7,628,898 (3,934,805)
2,661,914 4,482,878 7,120,565 5,192,166 19,457,523 23,263,569
- - - - - 56,759
(9,902 - - (9,902 72,000
$2,532,100 $ 4,322,625 $7,905,436 $12,316,358 $27,076,519 $19,457,523
See accompanying notes.
7
Special
Debt Capital
Totals (memorandum only)
General
Revenue
Service Projects
1986
1985
$2,065,440
$ 162,504
$ - $ -
$ 2,227,944
$ 2,010,595
2,275,851
20,958,760
- 4,606,720
27,841,331
25,207,739
1,804
977,994
- 63,361
1,043,159
892,883
-
535,223
- -
535,223
593,593
53,786
577,100
- 326,172
957,058
850,289
(29 176)
T6�
460.22
=3� 67I�06
572,067 578,525
b7 57a, 77$
1,581 641
2,810
34,186,356
- 3 183
47,386
-
- -
47,386
53,004
133,634
-
- -
133,634
132,234
152,970
-
- -
152,970
143,428
199,094
-
- -
199,094
191,846
100,411
-
- -
100,411
78,639
195,493
-
- -
195,493
184,808
205,833
58,415
- -
264,248
403,790
72,627
-
- -
72,627
115,834
503,516
1,273,217
- -
1,776,733
1,651,721
265,957
-
- -
265,957
267,493
53,286
-
- -
53,286
16,985
288,529
471,591
- -
760,120
690,562
73,119
-
- -
73,119
64,850
3,678
-
- -
3,678
4,464
2,447
-
- -
2,447
-
82,872
-
- -
82,872
9,961
392,858
16,031,440
- -
16,424,298
16,171,873
-
140,331
- 8,909,314
9,049,645
9,645,979
-
135,062
- -
135,062
154,578
-
-
6,807,562 -
6,807,562
6,318,539
5s$
1,593,995 5,561,750 (6,235,495 (3,334,536 (2,414,286 (3,934,805
9,668,184 9,668,184 =
375,000 375,000 -
53,660 1,356,610 7,034,116 1,615,544 10,059,930 9,227,198
1 777 469 7 068 711 13 750 1 10 0 9,227,198
0;804 (�,Tf�;T6� T,0�0; 6 728 IU,U4318 -
(129,814) (150,351) 784,871 7,124,192 7,628,898 (3,934,805)
2,661,914 4,482,878 7,120,565 5,192,166 19,457,523 23,263,569
- - - - - 56,759
(9,902 - - (9,902 72,000
$2,532,100 $ 4,322,625 $7,905,436 $12,316,358 $27,076,519 $19,457,523
See accompanying notes.
7
KODIAK ISLAND BOROUGH
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget and Actual -
General Fund, Special Revenue Funds and Debt Service Funds
Year ended June 30, 1986
See accompanying notes.
8
General Fund
Special
Variance
favorable
Budget
Actual
(unfavorable)
Budget
Revenues:
Property taxes
$2,078,380
$2,065,440
$ (12,940)
$ 156,160
Intergovernmental:
State sources
2,132,320
2,275,851
143,531
21,184,410
Federal sources
1,750
1,804
54
952,796
Land sales
470,900
Licenses, permits, fees and other local revenues
89,500
53,786
(35,714)
462,970
Investments and property
318 700
(29,176)
(347
614,670
Total revenues
- T,367,705
� 945
X 906
Expenditures:
Current:
Borough Assembly
44,500
47,386
(2,886)
-
Mayor's department
132,300
133,634
(1,334)
-
Clerk's department
169,250
152,970
16,280
-
Finance department
205,580
199,094
6,486.
-
Legal department
130,000
100,411
29,589
-
Assessment department
192,860
195,493
(2,633)
-
Community development department
234,120
205,833
28,287
1,305,232
Engineering department
212,170
72,627
139,543
-
Health and sanitation
507,900
503,516
4,384
1,350,036
Data services
269,240
265,957
3,283
-
Resource management
53,660
53,286
374
-
Building inspector's department
108,610
73,119
35,491
-
Emergency preparedness
15,000
3,678
11,322
-
Community and regional affairs
5,000
2,447
2,553
-
Facilities coordinator department
176,670
82,872
93,798
-
Education support
377,000
392,858
(15,858)
17,175,582
General administration
261,530
288,529
(26,999)
523,770
Capital outlay:
Capital improvements
-
-
-
425,260
Debt Service:
Principal
_
-
_
_
Interest
-
_
-
_
Fiscal agent fees
-
-
-
-
Total expenditures
�,�53
77 7I�
b$6
- Tq 77TO
Excess (deficiency) of
revenues over expenditures
1,525,260
1,593,995
68,735
3,062,026
Other financing sources (uses):
Operating transfers from other funds
84,060
53,660
(30,400)
1,556,610 -
Operating transfers to other funds
1,767 110
1,777 469
(10 359)
7 264,910
Net other financing sources (uses)
( ,b5b
(TT23,803
Excess (deficiency) of revenues and other
financing sources over expenditures
and other financing uses
(157,790)
(129,814)
27,976
(2,646,274)
Fund balances at beginning of year
2,661,914
2,661,914
-
4,482,878
Adjustment to reserve for fuel inventory
-
-
-
(9,902 -
Fund balances at end of year
$2,504,124
$2,532,100
$ 27,976
S 1,826,702
See accompanying notes.
8
Exhibit C
Revenue Funds
Debt Service Funds
Totals (memorandum
only)
Variance
Variance
Variance
favorable
favorable
favorable
Actual
(unfavorable)
Budget
Actual
(unfavorable)
Budget
Actual
(unfavorable)
$ 162,504
$ 6,344
$ -
$ -
$ -
$ 2,234,540
$ 2,227,944
$ (6,596)
20,958,760
(225,650)
-
-
-
23,316,730
23,234,611
(82,119)
977,994
25,198
-
-
-
954,546
979,798
25,252
535,223
64,323
-
-
-
470,900
535,223
64,323
577,100
114,130
-
-
-
552,470
630,886
78,416
- 460 225
2 TM J9
(154,445)
�( T0, Ian
418 500
572,067
�7'�bST
153,567
, 533
1 351,870
1,003, 116
�8�T13T$
(348 754)
(i �, )
$�65�
8 ; 5�
44,500
47,386
(2,886)
132,300
133,634
(1,334)
169,250
152,970
16,280
205,580
199,094
6,486
130,000
100,411
29,589
_
_
_
_
-
192,860
195,493
(2,633)
58,415
1,246,817
-
-
-
1,539,352
264,248
1,275,104
-
-
-
-
-
212,170
72,627
139,543
1,273,217
76,819
-
-
-
1,857,936
1,776,733
81,203
-
-
-
-
-
269,240
265,957
3,283
_
-
_
_
-
53,660
53,286
374
-
-
-
-
-
108,610
73,119
35,491
_
_
_
-
-
15,000
3,678
11,322
_
-
-
-
-
5,000
2,447
2,553
_
_
_
-
-
176,670
82,872
93,798
16,031,440
1,144,142
-
-
-
17,552,582
16,424,298
1,128,284
471,591
52,179
-
-
-
785,300
760,120
25,180
_ 275,393
149,867
-
-
-
425,260
275,393
149,867
-
-
5,580,000
5,080,000
500,000
5,580,000
5,080,000
500,000
-
-
2,334,250
1,655,895
678,355
2,334,250
1,655,895
678,355
- T�iT6
- TI - 969 76 4
100,500
71 667
X67: M
28,833
- 1�b7, I88
100,500
71
- 2/,bgi , jzB
28,833
4,198, b9'f
,6I�7bU
- T, 8 620
5,561,750
2,499,724
(7,596,250)
(6,235,495)
1,360,755
(3,008,964)
920,250
3,929,214
1,356,610
(200,000)
6,821,600
7,034,116
212,516
8,462,270
8,444,386
(17,884)
(7�,�f�;Iar
1 96 199
6T
13 750
- 7�'fb;�bb
9,045,77 10
8 8 59 930
�4f3;5�4
1 85,840
�IFFW
07;56
X516
(150,351)
2,495,923
(788,400)
784,871
1,573,271
(3,592,464)
504,706
4,097,170
4,482,878
-
7,120,565
7,120,565
-
14,265,357
14,265,357
-
(9,902
-
-
-
-
(9,902
(9,902
-
_ $ 4,322,625
$2,495,923
$6,332,165
$7,905,436
$1,573,271
$10,662,991
$14,760,161
$4,097,170
9
Exhibit D
KODIAK ISLAND BOROUGH
Proprietary Fund Type - Enterprise Funds
Statement of Revenues, Expenses and Changes in
Retained Earnings
Year ended June 30, 1986
with comparative figures for 1985
1986 1985
Revenues:
Water sales $ 138,195 $ 119
Sewer service charges 147 105
Patient revenues 5 4
Installation charges 4 23,972
Other 104,551 91,507
Total revenues 5 4, 00, 94
Operating expenses:
Personal services
25,303
19,561
Purchased water and sewer treatment
182,173
156,122
Repairs and maintenance
24,608
9,731
Bad debts
-
9,283
Depreciation
368,778
227,995
Installation costs
15,926
5,834
Professional care of patients
2,442,601
2,385,453
Plant operations and household
840,965
857,671
General administrative
1,277,275
1,095,791
Other
16,437
5,195
Total operating expenses
5,194,06
4, 66
Operating income (loss)
461,378
(372
Other income (expense):
Interest income
110,497
176,914
Interest expense
-
(93
Other, primarily State of Alaska revenue
sharing
321,638
293,243
Net other income
432,135
469,218
Net earnings
893,513
96,676
Amortization of contribution in aid
of construction 142,919 22,933
Increase in retained earnings 1,036,432 119,609
Retained earnings at beginning of year 2,547,138 2,427,529
Retained earnings at end of year $3,583,570 $2,547,138
See accompanying notes.
10
Exhibit E
KODIAK ISLAND BOROUGH
Proprietary Fund Type - Enterprise Funds
Statement of Changes in Financial Position
Year ended June 30, 1986
with comparative figures for 1985
1986 1985
Financial resources provided:
Net earnings $ 893,513 $ 96,676
Add depreciation which does not use working capital 368,778 227,995
Working capital provided by operations 1�L29r 324
State of Alaska grants 2,849,812 1,380,759
Federal grants - 1,992,387
Contribution from the Kodiak Island Borough General
Fund for purchase of equipment 5,526 237
Reduction of long -term receivable 65,000 15,000
Total financial resources provided 4,182,629 3
Financial resources used:
Acquisition of property, plant and equipment
3,032,034
3,715,592
Increase in working capital
$1,150,595
$ 234,716
Changes in components of working capital:
Increase (decrease) in:
Current assets:
Other cash balances
$ 56,448
$ -
Equity in central treasury
53,976
34,292
Receivables
976,566
(27,467)
Inventories
28,827
8,406
Prepaid expenses
(9,171)
10,084
Restricted assets:
Equity in central treasury
-
(30,907)
Time certificates of deposit
1,852,213
997
Accrued interest receivable
(45,909)
40,451
Receivable from Lion Capital Group
(1,000,000)
-
1 912,950
1,032,646
Current liabilities:
Bank overdraft
(28,708)
25,212
Accounts payable
39,685
(31,988)
Customer deposits
1,506
(1,332)
Accrued liabilities
42,681
(23,538)
Payable from restricted assets:
Advance from central treasury
1,663,745
33,695
Contracts payable
(356,983)
(166,611)
Retainage payable
20,733
(95,515)
Unearned grant receipts
(620,304)
1,058,007
_ - - �
797
Increase in working capital
$1,150,595
$ 234,716
See accompanying notes.
11
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
(1) Summary of Significant Accounting Policies
Scope and Presentation of Financial Statements
The Kodiak Island Borough (Borough) was organized to perform the municipal
duties allowed by Alaska Statutes and as directed by its residents. The
accompanying financial statements include all activities of the Borough,
including all component units. The financial results of the recurring
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 responsibility 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 finance the
acquisition and construction of the school facilities. The Borough and the
School District maintain separate accounting records of financial activity.
The various funds and the general fixed asset account group of the School
District have been combined with similar fund types and account groups of the
Borough.
The Borough Assembly, as the oversight authority, approves the total annual
budget of the School District and may, during the year, increase or decrease
the total appropriation. The Borough Assembly also approves the borrowing of
-- funds and issuance of bonds for the School District. The Borough levies and
collects taxes for the School District.
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, operating losses sustained (as contractually defined), if any, are
the ultimate responsibility of the Borough. Annual contributions, as well as
direct payment for equipment 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 or
Capital Projects Funds. The comprehensive financial position and operating
results of the Hospital are included in these combined financial statements
as an enterprise fund.
No other entities exist in which the Borough has oversight responsibility
accountability for fiscal matters, scope of public services or special
financing relationships.
12
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
Fiscal Year -ends
The Borough has a June 30 year -end. The School District, as required by State
Statute, has a June 30 year -end. The Hospital has a December 31 year -end and the
accompanying financial statements include the financial position for the Hospital
as of December 31, 1985, and the results of operations for the year then ended.
Presentation
The combined financial statements provide a summary overview of the financial
position of all funds and account groups and of the operating results of all
funds. These combined statements have been prepared from the detailed statements
included in the combining and individual fund and account group statements and
schedules included in this report.
Total columns on the combined statements are captioned "memorandum only" to
indicate that they are presented only to facilitate financial analysis. Data in
these columns do not present financial position, results of operations, or changes
in financial position in conformity with generally accepted accounting principles.
Neither are such data comparable to a consolidation. Interfund eliminations have
not been made in the aggregation of these data.
The accounting policies of the Borough conform to generally accepted accounting
principles.
Fund Accounting
The accounts of the Borough are organized on the basis of funds and account
groups, each of which is considered a separate accounting entity. Operations of
each fund are accounted for with a separate set of self- balancing accounts that
comprise its assets, liabilities, fund equity, revenues and expenditures or
expenses, as appropriate. Borough resources 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. The various funds are grouped
in the combined financial statements in this report into six generic fund types
and three broad fund categories as follows:
Governmental Fund Types
General Fund - The General Fund is the general operating fund of the Borough.
It is used to account for all financial resources except those required to be
accounted for in another fund.
Special Revenue Funds - Special Revenue Funds are used to account for the
proceeds of specific revenue sources (other than special assessments and
major capital projects) that are legally restricted to expenditures for
specific purposes.
13
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
Debt Service Funds - The Debt Service Funds are used to account for the
accumulation of resources for, and the payment of, general long -term debt
principal, interest and related costs.
Capital Projects Funds - Capital Projects Funds are used to account for
financial resources to be used for acquisition or construction of major
capital facilities and equipment.
Proprietary Fund Type - Enterprise Funds - The Enterprise Funds are used to
account for operations (a) that are financed and operated in a manner similar
to private business enterprises where the intent of the governing body is
that the costs (expenses, including depreciation) of providing goods or
services to the general public on a continuing basis be financed or recovered
primarily through user charges or (b) where the governing body has decided
that periodic determination of revenues earned, expenses incurred, and /or net
income is appropriate for capital maintenance, public policy, management
control, accountability or other purposes.
Fiduciary Fund Type - Agency Funds - To account for assets held by the
Borough as an agent for individuals and other entities. These funds are
custodial in nature (assets equal liabilities) and do not involve measurement
of results of operations.
Account Groups
The accounting and reporting treatment applied to the fixed assets and
long -term liabilities associated with a fund are determined by its
measurement focus. Governmental Fund Types are accounted for on a spending
or financial flow measurement focus. This means that only current assets and
current liabilities are generally included on their balance sheets. Their
reported fund balances (net current assets) is considered a measure of
available spendable resources. Governmental Fund Type operating statements
present increases (revenues and other financial sources) and decreases
(expenditures and other financial uses) in net current assets. Accordingly,
they are said to present a summary of sources and uses of available spendable
resources during a period.
The two account groups are not funds. They are concerned only with the
measurement of financial position. They are not involved with measurement of
results of operations.
14
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
General Fixed Assets
Fixed assets used in Governmental Fund Type operations (general fixed
assets) are accounted for in the General Fixed Assets Account Group
rather than in Governmental Fund Types. Public domain (infrastructure)
general fixed assets consisting of certain improvements other than
buildings, including roads, bridges, curbs and gutters, streets and
sidewalks, drainage systems and lighting systems, are not capitalized.
No depreciation has been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated historical
cost if actual historical cost is not available. Donated fixed assets
are valued at their estimated fair value on the date donated.
General Long -Term Debt
Long -term liabilities expected to be financed from Governmental Fund
Types are accounted for in the General Long -Term Debt Account Group, not
in the Governmental Fund Types.
Noncurrent portions of long -term receivables due to Governmental Fund
Types are reported on their balance sheets, in spite of their spending
measurement focus. Special reporting treatments are used to indicate,
however, that they should not be considered available spendable
resources since they do not represent net current assets. Recognition
of Governmental Fund Type revenues represented by noncurrent receivables
is deferred until they become current receivables. Noncurrent
installments of long -term loans receivable are offset by fund balance
reserve accounts.
Because of their spending measurement focus, expenditure recognition for
Governmental Fund Types is limited to exclude amounts represented by
noncurrent liabilities. Since they do not affect net current assets,
such long -term amounts are not recognized as Governmental Fund type
expenditures or fund liabilities. They are instead reported as
liabilities in the General Long -Term Debt Account Group.
Proprietary Fund Type
The Proprietary Fund Type is accounted for on a cost of services or capital
maintenance measurement focus. This means that all assets and all liabilities
(whether current or noncurrent) associated with its activity are included on its
balance sheet. Its reported fund equity (net total assets) is segregated into
contributed capital and retained earnings components. The Proprietary Fund type
operating statement presents increases (revenues) and decreases (expenses) in net
total assets.
15
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
Depreciation of all exhaustible fixed assets used by the Enterprise Funds is
charged as an expense against their operations on a straight -line basis over the
following estimated useful lives:
Water and Sewer plant 50 years
Hospital - building and fixed equipment 28 -33 years
- major movable equipment 5 -10 years
Contributions in aid of construction for the Water and Sewer Enterprise Fund are
amortized over the estimated useful lives of the assets acquired using the
straight -line method.
Basis of Accountin
Basis of accounting refers to when revenues and expenditures or expenses are
recognized in the accounts and reported in the combined financial statements.
Basis of accounting relates to the timing of the measurements made, regardless of
the measurement focus applied.
Governmental Fund Types are accounted for using the modified accrual basis of
accounting.
Expenditures are generally recognized under the modified accrual basis of
accounting when the related fund liability is incurred. An exception to this
general rule is principal and interest on general long -term debt which is
recognized when due.
Pursuant to this basis of accounting, material revenues which are both measurable
and available are accrued and other revenues are recorded on the cash basis.
Summarized below are the major sources of revenue and the applicable recognition
policies:
Property Taxes
Property taxes are levied on the assessed value of taxable property as of
January 1. Pursuant to Alaska Statute 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 for which they are levied and in which they become measurable
and available.
At June 30, 1986, the 1986 real and personal property tax levy of $1,741,772
is reflected as deferred revenue of the General Fund.
Intergovernmental Revenue
State of Alaska shared revenues, State of
Federal shared revenue, and various State
programs and State levied taxes (the proceeds
local governments) are recorded in the fiscal
including accrual at year -end of final payments
to three months after year -end.
Alaska municipal assistance,
education - related entitlement
of which are distributed to
year to which they relate,
due within approximately two
16
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
State of Alaska and Federal government 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.
Revenue from Investments and Property
Amounts earned on investment of available cash balances and the rental of
building facilities are recorded in the period to which they relate,
including accrual at year -end of balance due.
Land Sales Pro ceeds and Other Local Revenues
Amounts received pursuant to land sale contracts (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 availability
standards.
The Proprietary Fund Type is accounted for using the accrual basis of accounting.
Its revenues are recognized when they are earned and its expenses are recognized
when they are incurred.
The Fiduciary Fund Type is accounted for using the modified accrual basis of
accounting similar to that utilized by Governmental Fund Types.
Budgets and Budgetary Accounting
The Borough
The Borough follows these procedures in establishing the budgetary data reflected
in the combined financial statements:
a. The Mayor must submit to the Borough Assembly by April 13 a proposed
operating budget for the fiscal year commencing the following July 1.
The operating budget includes proposed expenditures and the means of
financing them.
b. Public hearings are conducted by the Borough Assembly to obtain taxpayer
comments.
C. By June 10, by Borough Assembly action, the budget is legally enacted
through passage of an ordinance. If the Borough Assembly fails to pass
an ordinance, the budget submitted by the Mayor becomes the adopted
budget.
17
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
d. Amendments to the budget can occur any time during the fiscal year
through the Borough Assembly or administrative action. Generally, the
following actions are required at the level of the particular change:
(1) All new appropriations are authorized by an appropriation ordinance
that amends the annual budget ordinance.
(2) A resolution of the Borough Assembly is required to move
(appropriate) amounts between departments and projects.
(3) The administration is authorized and directed by the Borough
Assembly to effect the necessary line item changes within the
limits established by Items (1) and (2) above by project or
department to properly monitor, account, and report receipts and
expenditures.
e. Expenditures may not legally exceed appropriations at the following
levels:
General Fund - department level
Capital Projects Funds - project level
All other funds - fund level
- f. All funds are budgeted on an annual basis encompassing a fiscal year,
except that budgets of Capital Projects Funds generally encompass the
period of project completion which is generally greater than one year.
g. Appropriations lapse at year -end to the extent that they have not been
expended for all funds except Capital Projects Funds, which lapse at
project completion.
h. Budgets adopted by the Borough Assembly are in accordance with generally
accepted accounting principles.
The School Distric
Annual budgets are adopted by the School Board for all revenues, expenditures and
interfund transfers. Budgets are prepared and presented on the modified accrual
basis of accounting. Pursuant to Alaska Statutes, the adopted budget is submitted
to the Borough Assembly for review and approval. The Borough Assembly is required
to approve the School District budget in total only and, by ordinance, appropriate
the necessary resources no later than April 30 of the current fiscal year.
The School Board retains line item authority once the annual local appropriation
is set by the Borough Assembly. In the year ended June 30, 1986, there were two
formal budget revisions to adjust the revenues and expenditures to available
resources and program needs.
No other budgets are legally required.
IV
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
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.
Tnvantnriac
The Kodiak Island Borough
Expendable operating supplies of the Borough are accounted for using the purchase
method and, at June 30, 1986, there was no significant amount of such items.
The School District
Expendable operating supplies of the School District, consisting primarily of teaching,
maintenance and food supplies, are accounted for using the consumption method. These
inventories are valued at the lower of average cost or market, except USDA food
inventory (acquired at nominal price) which is recorded at replacement cost. Fuel
inventory is accounted for using the purchase method and is recorded at cost on the
first -in, first -out basis.
The Hospital
Inventories are stated at the lower of cost or market, with cost determined
substantially on a FIFO basis.
Retirement Plans
All full -time employees of the Borough and School District participate in either the
Alaska Public Employees' Retirement System (PERS) or the Alaska Teachers' Retirement
System (TRS). The Borough and School District accrue pension expense which includes
current costs and amortization of prior service costs. The policy is to fund pension
costs accrued.
Annual Leave
The Borough (excluding the School District) records its liability for accrued annual
leave in the Governmental Fund Types for the amounts estimated to be liquidated with
current available resources.
The commitment for accrued annual leave not included in the Governmental Fund Types is
recorded in the General Long -Term Debt Account Group. Cash sufficient to pay the
long -term debt is deposited in a Debt Service Fund.
Enterprise Funds and the School District record leave (including sick leave) as earned.
19
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
(2) Cash and Temporary Investments
Central Treasury
The cash transactions of the Borough's funds are transacted primarily in a single checking account (other
than payroll account). Cash carried in this central account in excess of operating needs is invested in
temporary certificates of deposit or similar short -term investments.
Special Cash Investments
Investments have been made by the Borough and identified by the specific source of their funding. All
investments are stated at cost, which approximates market value. A summary of these investments at June 30,
1986 follows:
General
Fund
Time certificates of deposit:
United Bank Alaska:
7.25% $1,000,000 $
7.375% -
7.50% -
,000, 0 _
Alaska Mutual Bank:
8%
Alaska Pacific Bank:
7.375%
First Interstate Bank of Alaska:
6.53%
6.68%
6.78%
Merrill Lynch Pierce Fenner
& Smith, Inc.:
6.38%
6.77%
6.80%
6.85%
6.86%
Total time certificates
of deposit
Repurchase agreements - National
Bank of Alaska
_ 5.5%
6.35%
Commercial Paper:
Merrill Lynch Pierce Fenner
& Smith, Inc.:
6.80%
Special Debt Capital
Revenue Service Projects Proprietary
Funds Funds Funds Fund Type Total
$ _ $ _ $ _ $1,000,000
1,000,000 - 1,000,000
2,000 000 - 2,000,000
- 3, 000, 0000 - 4,000,000
1 2 50 1 000
500
- -
�u - -
1,400,000
500,000 -
- — 566,UU 1,46b,�66
- - 1,250 000
500,000 - 1 000 000
Orb -
1:000:000
1,400,000
- 1,150,000 1,150,000
500,000 - 1 000 000
— 5u= 1 Ti5a�6 _3 - -b,�6
- 1,001,501 - 1,001,501
- - 1,576,107 - 1,576,107
- - - 977,234 - 977,234
- - 2,998,380 - 2,998,380
- - 2,422 - 2,422,878
1,500,000 500,000 2,650,000 12,976,100 1,150,000 18,776,100
2,700,000 2,700,000
2,500,000 1 000 - - - 4,000,000
2,3`00, 1 ,00 - - , 0 ,000 6,700,000
920,754 - 2,000 - - 2,920,754
$4,920,754 $2,000,000 $4,650,000 $12,976,100 $3,850,000 $28,396,854
20
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
(3) 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 budgeted
expenditures.
In addition to the annual appropriation, the Borough provides the School District,
without charge, general liability and property insurance and the annual independent
audit.
(4) Hospital Appropriation
By terms of the operating agreement with the Lutheran Hospitals and Homes Society
of America, the Borough is ultimately responsible for operating losses (as
contractually defined), if any, sustained by the Hospital.
Shared revenue received by the Borough from the State of Alaska includes $250,000,
required to be passed through to the Hospital. The Borough recorded this amount as
intergovernmental revenue and the pass- through as an expenditure for Hospital
support.
(5) Retirement Commitments
As of June 30, 1986, substantially all employees of the Borough and School District
participate in either the Alaska Public Employees' Retirement System (PERS) or the
Alaska Teachers' Retirement System (TRS). Borough personnel and School District
classified personnel participate in PERS. School District certificated personnel
participate in TRS. Both systems are statewide multi - employer defined benefit
retirement plans, administered by the State of Alaska, to which employees and
employers both contribute. The rate of employers' contribution to PERS and TRS is
set periodically by the retirement systems based on actuarial valuation.
Alaska Public Employees' Retirement System (PERS)
PERS is a defined benefit pension plan to which employees contribute 4.25% of their
compensation. Under the plan, the State of Alaska and all participating political
subdivisions are considered collectively to be a single employer and contribute to
the plan at a single composite rate to amortize all future service liabilities
together with a past service rate determined separately for each employer.
21
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
The actuarially computed value of the vested accumulated liability for PERS,
computed at an 8% discount rate, compared to adjusted assets available at June
30, 1985 (date of latest actuarial study available) for the Borough and School
District are shown below:
Borough School District Total
Vested accumulated liability $ 811 $2,315,625 $3,127,294
Adjusted assets available 1,345,638 3,031,874 4
Assets in excess of vested
liability $ 533,969 $ 716 $1,250,218
PERS pension expense for the year ended June 30, 1986 was $501,517.
Alaska Teachers' Retirement System (TRS)
- TRS is a defined benefit pension plan to which employees contribute 7% of
their compensation. In addition to the employee's contribution, the School
District and the State of Alaska each contribute an amount equal to one -half
of the amount required in addition to member contributions to finance the
benefits of the system.
The Alaska Teachers' Retirement System does not maintain benefit data by
participating entity and, as a consequence, the actuarial present value of
plan benefits, both vested and nonvested and the net pension assets available
for benefits segregated for the School District are not available. As of the
latest available actuarial valuation date for the system (June 30, 1985), the
accrued funding ratio for all participating entities taken together was 80 %.
The total TRS pension expense for the year for the School District was
$644,404.
A change during 1985 for both PERS and TRS from the attained age normal to the
projected unit credit actuarial method had no effect on the amount of pension
expense for the year ended June 30, 1986. However, the accrued funding ratio
for TRS at June 30, 1985 would have been 87.6% under the prior actuarial
method.
Contributions to these plans are a percentage of eligible gross wages made by
both the employer and employee as follows:
22
1986 -87
1985 -86
School
School
Borough
District
Borough
District
PERS
PERS
TRS
PERS
PERS TRS
Employee 4.25%
4.25%
7.00%
4.25%
4.25% 7.00%
Employer 10.34
13.31
9.09
11.26
12.65 8.88
14.59%
17.56%
16.09%
15.51%
16.90% 15.88%
22
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
(6) Long -Term Debt
Authorized
Dates
Amount
The following is
a summary of long -term
debt for
the year ended
June 30, 1986:
General
Interest
9/1/86
50,000
Maturity
Obligation Bonds
Rates
Dates
Issue date
date
Term bonds -
-
1974
4,000,000
8/1/86
Hospital building
4.875%
11/1 -5/1
5/1/67
5/1/87
Serial bonds:
8/1/88
250,000
Schools
5%
9/1 -3/1
1/1/67
9/1/87
Schools refunding
5.70%
8/1 -2/1
4/1/74
8/1/85
Schools refunding
7.25%
8/1 -2/1
8/1/74
8/1/92
Schools 7.3 -9% 8/1 -2/1 8/1/80 8/1/2000
Junior High School Variable Quarterly 6/1/83 7/1/86
Renovation
High School Auditorium Variable Quarterly 5/3/84 7/1/89
Schools, Multi - projects Variable Quarterly 5/28/86 6/1/96
Payments
Authorized
Dates
Amount
Year
Amount
5/1/87
$ 300,000
1967
S 300,000
9/1/86
50,000
1965
750,000
9/1/87
50,000
-
1974
4,000,000
8/1/86
215,000
1974
1,900,000
8/1/87
235,000
8/1/88
250,000
8/1/89
270,000
8/1/90
290,000
8/1/91
310,000
8/1/92
330,000
8/1/86
395,000
1979
29,000,000
8/1/87
430,000 - -.
8/1/88
465,000
8/1/89
500,000
8/1/90
540,000
8/1/91
585,000
8/1/92
630,000
8/1/93
680,000
8/1/94
735,000
8/1/95
795,000
8/1/96
860,000
8/1/97
925,000
8/1/98
1,000,000
8/1/99
1,080,000
8/1/00
1,165,000
7/1/86
1,000,000
7/1/86
450,000
10/1/86
450,000
1/1/87
450,000
4/1/87
500,000
7/1/87
500,000
10/1/81
500,000
1/1/88
500,000
4/1/88
550,000
7/1/88
550,000
10/1/88
550,000
1/1/89
550,000
4/1/89
550,000
1/1/89
550,000
9/1/86
180,000
1986
9,930,000
12/1/86
250,000
3/1/87
to
3/1/95
9,250,000
6/1/95
250,000
$30,665,000
$45,880,000
23
12,100,000 945,000 - 11,155,000
7,400,000 3,600,000 - 3,800,000
9,500,000 1,200,000 - 8,300,000
- 370,000 10,785,000
- 2,800,000 1,000,000 1,047,500 1
- 1,650,000 6,650,000 960,000 1,393,632
9,930,000 - 9,930,000
635,950,000 $7,810,000 $2,325,000 $25,815,000 $9,930,000 65,080,000 !30,665,000
24
Prior Years
Balance at
Current Year
Balance at Sinking Fund
Issued
Retired Refunded
July 1,1985
Issued Retired
June 30,1986 Required Available
S 300,000
$ - S -
$ 300,000
s - $ -
$ 300,000 $ 300,000 S 309,107
750,000
600,000 -
150,000
- 50,000
100,000 - -
4,000,000
1,465,000 2,325,000
210,000
- 210,000
1,900,000
- -
1,900,000
- -
1,900,000
12,100,000 945,000 - 11,155,000
7,400,000 3,600,000 - 3,800,000
9,500,000 1,200,000 - 8,300,000
- 370,000 10,785,000
- 2,800,000 1,000,000 1,047,500 1
- 1,650,000 6,650,000 960,000 1,393,632
9,930,000 - 9,930,000
635,950,000 $7,810,000 $2,325,000 $25,815,000 $9,930,000 65,080,000 !30,665,000
24
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
The annual requirements to amortize all general obligation debt outstanding as
of June 30, 1986, including interest payments of $13,107,163, are as follows:
Annual Requirements to Amortize General Obligation Debt
Year Ending
General
June 30
Obligation
1987
$6,905,885
1988
5,658,421
1989
5,544,691
1990
3,664,414
1991
3,020,904
1992
2,943,093
1993
2,860,072
1994
2,438,802
1995
2,359,481
1996
2,279,200
1997
1,228,000
1998
1,221,600
1999
1,219,600
2000
1,216,400
2001
1.211.600
$43,772,163
The amount of $7,776,556 is available in the Debt Service Funds to service the
general obligation bonds.
There are a number of limitations and restrictions contained in the various bond
indentures. The Borough is in compliance with all significant limitations and
restrictions.
Refunding Bonds
During 1974, the Borough defeased existing bonds by
bonds then issued. The proceeds from the "refunding
of $2,325,000) have been invested in U.S. Government
rate which will result in a return of proceeds
securities' principal balances, will be sufficient
principal requirements of the defeased bonds.
utilizing the proceeds of
bonds" (issued in the amount
securities at an interest
that, when added to the
to meet the interest and
25
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
The investments in the securities and the current obligations of the defeased
bonds are not reflected in the combined financial statements. A summary of the
investments held in trust and the current obligations of the def eased bonds at
June 30, 1986 are summarized as follows:
Bond principal Investments
outstanding held in trust
Series 1974 School bonds, 5.25% to 5.7 %,
due in installments to 1992 $2,050,000 $2,014,048
*Central Bank of Denver as Trustee
(7) General Fixed Assets Account Group (Unaudited
A summary of changes in the General Fixed Assets Account Group for the year ended
June 30, 1986 follows:
$156,274,408 $13,803,665 $9,912,062 $160,166,011
General fixed assets are recorded as expenditures of the various Borough funds at
the time of purchase and are subsequently capitalized for memorandum purposes in
the General Fixed Asset Account Group. Such assets include land, buildings,
equipment, furniture and other related assets. Public domain (infrastructure)
general fixed assets consisting of certain improvements other than buildings such
as roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and
lighting systems are not capitalized. No depreciation has been provided on
general fixed assets.
All fixed assets are valued at historical cost or estimated historical cost if
actual historical cost is not available. Donated fixed assets are valued at
their estimated fair value on the date donated.
26
Balance
Balance
July 1, 1985
Additions
Deductions June 30, 1986
Land
$106,474,568
$ -
$ - $106,474,568
Buildings
39,492,373
9,905,182
- 49,397,555
Improvements other
than buildings
730,239
-
- 730,239
Machinery and equipment
2,135,376
298
6,880 2,426,929
Construction work
in progress
7,441,852
3,600,050
9,905,182 1
$156,274,408 $13,803,665 $9,912,062 $160,166,011
General fixed assets are recorded as expenditures of the various Borough funds at
the time of purchase and are subsequently capitalized for memorandum purposes in
the General Fixed Asset Account Group. Such assets include land, buildings,
equipment, furniture and other related assets. Public domain (infrastructure)
general fixed assets consisting of certain improvements other than buildings such
as roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and
lighting systems are not capitalized. No depreciation has been provided on
general fixed assets.
All fixed assets are valued at historical cost or estimated historical cost if
actual historical cost is not available. Donated fixed assets are valued at
their estimated fair value on the date donated.
26
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
(8) Enterprise Fund Segment Information
The Borough owns and operates a Water and Sewer Utility Enterprise Fund and
the Kodiak Island Borough Hospital is included in the Borough's financial
statements as a component unit. The water and sewer utility operation has a
June 30 year -end while the Hospital operates on a December 31 year -end.
Segment financial data as of and for the year ended June 30, 1986 for the
water and sewer utility and as of and for the year ended December 31, 1985 for
the Hospital are as follows:
Water and
(9) Capital Projects Funds Construction Commitments
A summary of Capital Projects Funds construction commitments at June 30, 1986
follows:
Various Borough Projects Funds $ 18,400
School Bond Improvements Fund 529,494
School Equipment and Furnishings 13,986
State Capital Grants Fund 3,796,717
$4,358,597
Resources are presently available or committed to finance construction com-
mitments at June 30, 1986.
27
Sewer Utility
Hospital
Total
Operating revenues
$ 292,079
$5,363,365
$5,655,444
Depreciation
142,919
225,859
368,778
Operating income (loss)
(115,287)
576,665
461
Operating grants, entitle-
ments and shared revenues
-
321,638
321
Net earnings (loss)
(4,790)
898
893,513
Contributions in aid of
construction:
Additions
2,849,813
5,526
2,855,339
Amortization
142,919
-
142,919
Property, plant and equip-
ment additions
2,849,813
182,221
3
Net working capital
620
2,041,790
2,661,904
Total equity
12
6,443
18,443
(9) Capital Projects Funds Construction Commitments
A summary of Capital Projects Funds construction commitments at June 30, 1986
follows:
Various Borough Projects Funds $ 18,400
School Bond Improvements Fund 529,494
School Equipment and Furnishings 13,986
State Capital Grants Fund 3,796,717
$4,358,597
Resources are presently available or committed to finance construction com-
mitments at June 30, 1986.
27
KODIAK ISLAND BOROUGH
Notes to Combined Financial Statements
June 30, 1986
(10) Interfund Receivables and Payables
A summary of interfund receivables and payables at June 30, 1986 is as
follows:
Receivable Payable
Special Revenue Funds - Education $ - $ 75,702
Capital Projects Funds - School
Equipment and Furnishings 78,440 -
Fiduciary Fund Type - Agency Funds - 2,738
$ 78,440 $ 78,440
(11) Lion Capital Group
At July 1, 1985, the Borough had $2,000,000 in receivables from the Lion
Capital Group, Chapter 11, Bankruptcy Trustee. Extensive litigation
instituted by the Borough and other entities had culminated in a plan approved
by the U.S. Bankruptcy Court for distribution of available assets. During the
year ended June 30, 1986, the Borough received distributions of $1,518,731.
The Borough administration anticipates that there are remaining distributions
to be received. The amounts anticipated to be received and dates of such
receipts are not known at this time. As a consequence, a loss of $481,269 has
been recognized in the General Fund and classified with investments and
property revenue.
(12) Litigation
The Borough, in the normal course of its activities, is involved in various
- claims and pending litigation. In the opinion of management, the Borough has
adequate insurance coverage to prevent these matters from having a material
adverse effect on the Borough's combined financial statements.
GENERAL FUND
The General Fund accounts for the financial operations of the Borough that are not
required to be accounted for in any other fund. Principal sources of revenue are
property taxes and intergovernmental revenues. Primary expenditures in the
General Fund are for general governmental and public services.
KODIAK ISLAND BOROUGH
General Fund
Balance Sheet
June 30, 1986
with comparative figures for 1985
ASSETS
Cash and investments:
Temporary cash investments
Other cash balances
Total cash and investments
Receivables:
Property taxes:
Areawide tax role due in subsequent year
Delinquent taxes
Allowance for uncollectible delinquent taxes
Net property taxes
State of Alaska
Accrued interest receivable
Other
Net receivables
Receivable from Lion Capital Group
LIABILITIES AND FUND BALANCE
Liabilities:
Advance from central treasury
Accounts payable
Payroll taxes and employee benefits
Other accrued liabilities
Deferred revenue areawide tax role
due in subsequent year
Total liabilities
Fund balance:
Reserved:
Encumbrances
Receivable from Lion Capital Group
Unreserved:
Designated:
Working capital
Subsequent year expenditures
Total fund balance
..
$4,920,754
1,508
1,741,772
43,185
(14,974)
9, 8
610,423
22,462
74,097
2,476,R
$7.399.227
$3,058,732
45,771
17,447
3,405
1, 741,772
4,866
13,565
900,000
1,618,535
=
$7,399,227
Schedule 1
1985
$4,750,000
1,723
4, 751, M
1,669,282
19,367
(20,000)
,668,649
390,756
20,928
13,060
2,093, 93
1,000,000
$7,845,116
$3,471,329
9,747
32,690
153
1
5,183,202
25,674
1,000,000
900,000
736,240
x,91
$7,845,116
W
KODIAK ISLAND BOROUGH Schedule 2
General Fund
Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
Total expenditures - 3
30
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes:
General
$1,690,530
$1,675,032
$ (15,498)
$1,476,411
Penalty and interest
24,150
22,380
(1,770)
27,245
Payment in lieu of taxes
363 700
368 028
4,328
364,393
Total property taxes
7��$a
;
�; b
(12,y4�
�g
Intergovernmental:
State sources:
State shared revenue
811,530
807,263
(4,267)
709,470
Municipal assistance
725,000
791,596
66,596
840,704
Raw fish tax
558,000
647,057
89,057
651,383
Emergency medical services
32,000
24,323
(7,677)
-
Electric co -op tax
5,500
5,444
(56)
-
Motor vehicle tax
-
-
-
161,792
Miscellaneous
290
168
(122)
288
Total State sources
,"
77 ;�
143,5 T
Federal sources
1,750
1 804
54
1 749
Total intergovernmental
143,585
- 2,365, W
Licenses, permits, fees and other local revenues:
Buildings and trailers
24
23,950
(250)
22,698
Subdivision and zoning fees
11,000
14,715
3,715
13,623
Sale of copies
7,000
8,837
1,837
2,826
Sale of general fixed assets
-
-
-
1,239
Miscellaneous
47,300
6,284
(41,016
25,850
Total licenses, permits, fees
and other local sources
89,500
53,786
(35,714
66,236
Investments and property:
Interest income
221,700
366,054
144,354
376,014
Loss on investment (Note 12)
-
(481,269)
(481,269)
-
Lease rentals on land and buildings
7
2,190
(4
4,094
Computer rental
90,000
83,849
(6,151)
74 110
Total investments and property
318,766
TT6
(347,$36'
_d,,m
Total revenues
4,620,650
4,367,705
(252,945
4,753,889
Expenditures:
Borough Assembly
44,500
47,386
(2,886)
53,004
Mayor's department
132,300
133,634
(1,334)
132,234
Clerk's department
169,250
152,970
16,280
143,428
Finance department
205,580
199,094
6,486
191,846
Legal department
130,000
100,411
29,589
78,639
Assessment department
192,860
195,493
(2,633)
184,808
Community development department
234,120
205,833
28,287
189
Engineering department
212,170
72,627
139,543
115,834
Health and sanitation
507,900
503,516
4,384
492,384
Data services
269,240
265,957
3
267,493
Resource management
53,660
53,286
374
16,985
General administration
261,530
288,529
(26,999)
224,159
Building inspector
108,610
73,119
35,491
64,850
Emergency preparedness
15,000
3,678
11,322
4,464
Facilities department
176,670
82,872
93,798
9,961
Community and Regional Affairs Liaison
5,000
2,447
2,553
-
Education support
377,000
392,858
(15,858)
196,236
Total expenditures - 3
30
Schedule 2, Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance - Budget and Actual, Continued
Year ended June 30, 1986
with comparative figures for 1985
Excess of revenues over expenditures
Operating transfers from other funds:
Special Revenue - land sales
Capital Projects:
State school construction
Total operating transfers from other funds
Operating transfers to other funds:
Special Revenue:
Mental Health Center
Education
Buildings and grounds
Debt Service Funds:
School bonds
Other
Capital Projects:
State capital grants
Hospital improvements
Total operating transfers to other funds
Net operating transfers in (out)
Excess (deficiency) of revenues
and operating transfers from
other funds over expenditures and
operating transfers to other funds
Fund balance at beginning of year
Change in method of accounting for annual leave
Equity transfers from Special Revenue Fund
Fund balance at end of year
1986
Variance
favorable
Budget Actual (unfavorable)
1985
Actual
$1,525,260
$1,593,995
$ 68,735
$2,387,729
53,660
53,660
-
15,000
30,400
— 4,0
-
— 5TW
(30 400)
-
60,000
60,000
-
55,000
1,270,000
1,270,000
-
1,232,109
26,610
26,610
-
223,550
286,690
286,690
-
856,759
-
10,359
(10,359)
-
-
-
-
180,000
123,810
123,810
-
-
— 7,767,11
T,TfT,4
�( 659
(1,683,050
(1,723,809
(40,759
(2,532,418
(157,790) (129,814) 27,976 (144,689)
2,661,914 2,661,914 - 2,742,239
- - - 56,759
- 7,605
$2,504,124 $2,532,100 $ 27,976 $2,661,914
31
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures and Transfers - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
Schedule 3
(Continued)
32
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Expenditures:
Borough Assembly:
Assembly compensation $
8,800
$ 8.,600__
` $ 200
$ 9,300
Retirement contribution
800
462
338
416
Office supplies
100
11
89
84
Telephone and telegraph
200
203
(3)
261
Travel and per diem - fringe benefits
300
1,033
(733)
3,247
Travel and per diem - Assembly
11,000
4,836
6,164
11,190
Insurance and bonding
8,000
12,422
(4,422)
10,043
Printing and binding
6,000
3,427
2,573
6,972
Publications and dues
6,000
10,267
(4,267)
9,585
Miscellaneous
-
-
-
1,805
Legislative effort
1,000
1,725
(725)
-
Honorariums /amenities
100
-
100
101
Food /business lunch
2,200
1,951
�� h 249
-
Machinery and equipment -
Total Borough
-
500
2,449
- �T,JF6
(2,449)
-
--- S'3, - Mz
Assembly
(2,886
Mayor's department:
Borough mayor salary
60,000
60,692k (692)
53,451
Secretary salary
30,230
32,354
(2,124)
29,869
Unemployment tax
240
243
(3)
672
Social security tax
4,960
5,016
(56)
5,823
Group insurance
5,240
4,712
528
5,934
Workers' compensation
1,050
783
267
687
Termination reserve
10,000
10,000
-
-
Retirement contribution
10,180
10,199
123,919 (19)
9,347
Continuing education
1,500
302
1,198
1,167
Office supplies
600
565
35
765
Telephone and telegraph
1,100
1,451
(351)
975
Travel and per diem
2,000
1,834
166
2,476
Insurance and bonding
-
-
-
50
Repairs and maintenance
500
90
410
221
Printing and binding
2,000
2,657
(657)
4,218
Publications and dues
1,200
1,540
(340)
2,350
Furniture and fixtures
500
43
457
2,115
Boards and committees
1,000
824
176
823
Machinery and equipment
-
-
-
8,000
Advertising and hearings
-
329
(329)
291
Contracted services
-
-
�, -
3
Total mayor's department -
132,300
)
- 1JZ9234
(Continued)
32
Schedule 3, Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures and Transfers - Budget and Actual, Continued
Year ended June 30, 1986
with comparative figures for 1985
(Continued)
33
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Clerk's department:
Clerk salary
$ 53,580
$ 42,940
$
10,640
$ 56,795
Secretary salary
-
1,906
(1,906)
12,839
Deputy clerk salary
30,600
32,167
(1,567)
13,554
Unemployment tax
480
657
(177)
740
Social security tax
4,980
5,854
(874)
4,723
Group insurance
4,470
5,063
(593)
4,467
Workers' compensation
980
761
219
591
Termination reserve
16,960
1,075
15,885
-
Retirement contribution
9,500
_ _ 10,102
l 2S
(602)
8,845
Continuing education
2,500
3,354
(854)
2,230
Office supplies
1,000
1,585
(585)
1,302
Telephone and telegraph
900
1,138
(238)
729
Advertising and public hearing
7,500
7,381
119
5,914
Travel and per diem
750
602
148
725
Postage
9,500
9,602
(102)
9,204
Election - local
15,000
18,171
(3,171)
10,203
Professional services (consultants)
1,000
90
910
-
Personnel recruitment
1,550
1,439
111
-
Repairs and maintenance
500
82
418
Printing and binding
6,000
6,053
(53)
6,048
Publications and dues
750
686
64
928
Machinery and equipment
-
962
(962)
3,148
lease/purchase Equipment
750
y yS
443
Relocationexpense
443
- T7
��
-- Tc. - $6
(443)
-- rTT
Total clerk's department
=
Finance department:
Finance director salary
52,890
52,585
305
52,787
Cashier salary
26,420
21,329
5,091
22,691
Accountant salary
39,180
41,857
(2,677)
37,113
Accounting clerk I salary
25,780
28,307
(2,527)
25,257
Unemployment tax
960
974
(14)
1,510
Social security tax
9,300
9,358
(58)
8,765
Group insurance
7,190
4,976
2,214
6,727
Workers' compensation
1,680
1,192
488
1,018
Termination reserve
4,070
-
4,070
Retirement contribution
16,280
15,713
1 66 2 11
567
15,050
Continuing education
4,500
6
(1,551)
4,766
Office supplies
2,700
1,931
769
2,908
Telephone and telegraph
2,200
2,228
(28)
2,214
Advertising and public hearings
500
152
348
538
Travel and per diem
1,000
1,642
(642)
393
Insurance and bonding
5,430
6,102
(672)
5,425
Repairs and maintenance
500
180
320
-
Printing and binding
1,500
1
(247)
8,855
Publications and dues
1,500
1,570
(70)
1,840
Furniture and fixtures
500
1,098
(598)
902
Personnel recruitment
1,500
102
2� 3
1,398
Costs allocated to projects
Total finance department
-
-
-
(6 913)
9 46
(Continued)
33
Schedule 3, Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures and Transfers - Budget and Actual, Continued
Year ended June 30, 1986
with comparative figures for 1985
(Continued)
34
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Legal department:
Court costs and litigation allowance
$ 25,000
$ 34,691
$ (9,691)
$ 6,969
Telephone and telegraph
750
62
688
151
Advertising and public hearings
17,500
12,690
4,810
15,656
Travel and per diem
10,000
505
9,495
10,730
Professional services
75,000
51,122
23,878
43,836
Miscellaneous
-
-
-
1,297
Fees
1,000
805
195
-
Printing and binding
-
89
(89)
_
Filing recording fees
750
447
303
-
Total legal department
10 0,41T
-- 7971N
Assessment department:
Appraiser /assessor salary
47,420
50,038
(2,618)
46,236
Assessing clerk II salary
26,000
27,814
(1,814)
24,225
Assessing clerk I salary
23,770
24,963
(1,193)
22,521
Appraiser I salary
35,790
37,606
(1,816)
33,926
Unemployment tax
960
972
(12)
1,503
Social security tax
8,890
9,199
(309)
8,452
Group insurance
5,680
6,685
(1,005)
5,681
Workers' compensation
4,640
3,309
1,331
2,648
Termination reserve
860
-
860
-
Retirement contribution
15,000
14,983
1 5�56`� 17
14,034
Continuing education
3,000
3,507
(507)
3,974
Office supplies
1,500
1,485
15
938
Telephone and telegraph
1,400
1,861
(461)
1,570
Advertising and public hearings
1,800
617
1,183
723
Travel and per diem
8,000
3,234
4,766
4,152
Machinery and equipment
-
-
-
3,032
Repairs and maintenance
400
125
275
-
Printing and binding
4,500
5,764
(1,264)
8,804
Publications and dues
1,250
2,269
(1,019)
1,099
Furniture and fixtures
1,250
971
279
435
Boards and committees
750
-
750
800
Maps
-
55
Personnel recruitment
-
91
(91)
-
Total assessment department
- �
19
-( )
- I$ 4- 1 TF
(Continued)
34
Schedule 3, Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures and Transfers - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
(Continued)
35
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Community development department:
Planning director salary
$ 51,400
$ 51,497
$ (97)
$ 45,438
Zoning officer salary
30,500
31,352
(852)
14,903
Assistant planner salary
37,200
38,640
(1,440)
32,187
Secretary salary
24,000
24,549
(549)
17,856
Unemployment tax
960
1,180
(220)
1,212
Social security tax
9,030
9,284
(254)
7,299
Group insurance
6,320
5,531
789
4,355
Workers' compensation
4,880
3,520
1,360
2,620
Termination reserve
1,420
-
1,420
-
Retirement contribution
15,600
15,840
1 51,31 3 (240)
12,557
Personnel recruitment
=
- " =
-
1,382
Continuing education
4,100
4,476
(376)
996
Office supplies
3,000
3,008
(8)
6,229
Telephone and telegraph
1,600
1,589
11
1,708
Advertising and public hearings
9,000
5,844
3,156
8,878
Travel and per diem
3,400
4,221
(821)
4,858
Professional services
-
-
-
631
Repairs and maintenance
300
258
42
89
Contracted services
9,860
9,761
99
1,625
Printing and binding
7,600
6,283
1,317
8,110
Publications and dues
2,300
2,371
(71)
829
Machinery and equipment
-
-
-
3,941
Furniture and fixtures
3,250
2,875
375
5,494
Boards and committees
8,400
7,862
yy p 538
8,358
Costs allocated to projects
-
(24
2 � 24 108
(1 720)
Total community development department
$3
z
Engineering department:
Engineer salary
56,850
56,995
(145)
57,353
Construction inspector salary
42,450
52,868
(10,418)
49,340
Draftsman salary
33,610
32,741
869
27,726
Secretary salary
25,250
25,700
(450)
25,549
Unemployment tax
960
920
40
1,440
Social security tax
9,800
9,990
(190)
9,353
Group insurance
7,190
6,562
628
6,822
Workers' compensation
5,610
4,217
1,393
3,677
Termination reserve
2,160
-
2,160
Retirement contribution
17,840
18,810
20 (970)
17,650
Continuing education
1,500
1,239
261
979
Office supplies
1,000
1,401
(401)
1,084
Telephone and telegraph
1,000
1,200
(200)
953
Advertising and public hearings
-
58
(58)
-
Travel and per diem
1,500
-
1,500
359
Repairs and maintenance
500
653
(153)
-
Printing and binding
2,000
1,800
200
2,827
Publications and dues
750
464
286
831
Machinery and equipment
-
17,945
(17,945)
800
Costs a llocate d to projects
(165, <I3�,1167165,321
(92,810)
9
2 200
(2 185)
1 901
Total engineering department
-T ,
- Z, 385 627
- 139
- ,13;$ 4
(Continued)
35
KODIAK ISLAND BOROUGH
General Fund
Schedule 3, Cont.
Statement of Expenditures and Transfers - Budget and Actual, Continued
Year ended June 30, 1986
with comparative figures for 1985
Total health and sanitation
Data services:
Data processing manager salary
44,070
1986
(2,241)
44,792
Programmer /analyst
22,460
19,033
Variance
2,452
Data technician I salary
24,480
27,091
favorable
1985
Programmer salary
Budget
Actual
(unfavorable)
Actual
Health and sanitation:
720
718
2
1,125
Council on Alcoholism
$ 28,000
$ 28,000
$ - $
28,000
Hospital support
282,000
277,717
4,283
292,384
Ambulance service
50,000
50,000
-
26,000
Village health services
48,000
48,000
-
48,000
Kodiak Area Native Association
16,000
16,000
-
16,000
Women's Resource Center
22,000
22,000
-
22,000
Kodiak Baptist Mission
60,000
60,000
-
60,000
Contribution Health Center support
1,900
1.799
101
-
Total health and sanitation
Data services:
Data processing manager salary
44,070
46,311
(2,241)
44,792
Programmer /analyst
22,460
19,033
3,427
2,452
Data technician I salary
24,480
27,091
(2,611)
21,383
Programmer salary
4,340
4,333
7
26,077
Unemployment tax
720
718
2
1,125
Social security tax
6,670
6,361
309
6,251
Group insurance
7,020
5,934
1,086
6,085
Workers' compensation
1,140
773
367
677
Termination reserve
900
- 3 b
900
-
Retirement contribution
11,090
10 ,482 �� \� b
608
10,035
Professional education
8,000
11,741
(3,741)
4,000
Office supplies
500
1,338
(838)
539
Telephone and telegraph
1,000
1,921
(921)
1,088
Travel and per diem
1,000
-
1,000
1,104
Relocation expenses
-
2,836)
(2,836)
2,689
Professional services
-
-
-
2,607
Repairs and maintenance
27,000
29,651
(2,651)
34,169
Printing and binding
150
190
(40)
236
Publications and dues
600
665
(65)
603
Furniture and fixtures
3,000
3,089
(89)
-
Machinery and equipment
55,500
59_;_722'
(4,222)
84,845
Equipment lease /purchase
37,100
23,71
13,382
10,291
Equipment rental
-
-
-
1,351
Operating supplies
9,500
6,439
3,061
4,626
Personnel recruitment
3,000
3,386) s \`A
(386)
468
Advertising /hearing
-
225
(225)
-
Total data services
,ddb
T,T
'f8
267
(Continued)
36
KODIAK ISLAND BOROUGH
General Fund
Schedule 3, Cont.
Statement of Expenditures and Transfers - Budget and Actual, Continued
Year ended June 30, 1986
with comparative figures for 1985
Resource management:
Manager salary
Social security tax
Group insurance
Retirement contribution
Unemployment tax
Workers' compensation
Office supplies
Telephone and telegraph
Personnel recruitment
Travel and per diem
Continuing education
Furniture and fixtures
Printing and binding
Publications and dues
Staff wages /temporary help
Termination reserve
Advertising /hearing
Fees
Total resource management
General administration:
Secretary salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Continuing education
Office supplies
Rent
Street signs and house numbers
Printing and binding
Automobile repairs and maintenance
Insurance and bonding
Repairs and maintenance
Audit and consultants
Capital outlay - automotive
Capital outlay - machinery and equipment
Contribution to Chamber of Commerce
Contributions
Miscellaneous
Personnel recruitment
Bad debt expense
Food /business lunch
Training staff
Telephone and telegraph
Advertising /hearing
Out of pocket expense
Total general administration
(Continued)
1986
variance
Favorable
Budget Actual (unfavorable)
$ 36,910
$ 37,849
$ (939)
2,620
2,626
(6)
2,550
2,545
5
4,160
4,148
12
240
237
3
1,480
_ 1048
yg `IS 3 432
600
547
53
500
1,420
(920)
1,600
1,067
533
500
456
44
-
308
(308)
500
299
201
600
389
211
400
153
247
1,000
-
1,000
-
126
�i� 3 3 (126)
53,660
68
(68)
374
23,250
24,072
(822)
240
214
26
1,650
1,711
(61)
1,040
1,499
(459)
270
200
70
130
(10,359)
10,489
2,620
2,671
zo,00g (51)
-
---- ._...( 9421
942
750
1,096
(346)
110,020
110,020
-
10,000
21,011
(11,011)
-
235
(235)
8,000
5,256
2,744
-
12,477
(12,477)
500
72
428
40,000
61,119
(21,119)
12,000
11,029
971
3,000
1,536
1,464
26,500 26,500
1,200 - 1,200
300 908 (608)
2,000 646 1,354
15,560 511 15,049
x,53U 2 16 951 26g'S2� (-- t�r, 9 - )
1985
Actual
10,823
642
635
1,027
100
249
147
97
864
387
724
1,165
23
102
16,9$5
24,067
388
1,678
1,573
179
2,694
32
971
103,140
4,091
205
6,922
10,906
245
26,290
8,547
5,509
6,880
11,170
250
226
7,589
92
515
37
KODIAK ISLAND BOROUGH
General Fund
Schedule 3, Cont.
Statement of Expenditures and Transfers - Budget and Actual, Continued
Year ended June 30, 1986
with comparative figures for 1985
1986
Budget
variance
favorable 1985
Actual (unfavorable) Actual
Building inspector's department:
(5,217)
Building official salary $
47,420
Unemployment tax
240
Social security tax
2,810
Group insurance
1,920
Workers' compensation
1,900
Retirement contribution
5,350
Telephone and telegraph
500
Advertising and public hearing
-
Travel and per diem
1,500
Printing and binding
100
Contracted services
40,000
Continuing education
3,700
Publications and dues
1,200
Termination reserve
1,970
Furniture and fixtures
-
Total building inspector's department
1,200
Emergency preparedness:
$ 52,897 S (5,477)
227 13
2,949 (139)
1,909 11
1,413 6 487
5,603 (253)
600 (100)
185 (185)
129 1,371
298 (198)
4,767 35,233
1,912 1,788
71 C,�Z� 1,129
- 1,970
159 (159)
73,119 --- 15 - , M
Telephone and telegraph 2,500 - 2,500
Printing and binding - - -
Repairs and maintenance 10,000 3,678 6,322
Travel and per diem 2 500 - 2,500
�3
Total emergency preparedness L l m - STS ,
Facilities coordinator department:
(5,217)
Managerial salaries
51,340
Construction inspectors salaries
38,580
Secretary salary
26,910
Unemployment tax
720
Social security tax
7,460
Group insurance
7,020
Workers' compensation
3,910
Termination reserve
1,350
Retirement contribution
13,180
Office supplies
1,500
Telephone and telegraph
6,000
Advertising and public hearing
500
Travel and per diem
-
Rep airs and maintenance
250
Personnel recruitment
-
Printing and binding
1,200
Publications and dues
250
Machinery and equipment
-
Continuing education
2,000
Professional services
10,000
Costs allocated to projects
-
Furniture and fixtures
- 4 500
Total facilities coordinator department
116,670
(Continued)
56,557
(5,217)
28,567
10,013
20,792
6,118
797
(77)
6,698
762
4,453
2,567
2,581
1,329
1_1,879 IS
1
1,301
,2 -
(774)
3,307
2,693
41
459
65 185
2,301) (2,301)
2,035 (835)
632 (382)
1,869 521 131
10,000
(64,020) 64,020
2 2,456
38
47,741
386
2,753
1,916
1,214
5,173
509
43
250
3,908
957
4,464
48,296
26,754
805
4,713
4,467
1,498
8,376
1,495
3,359
547
100
68
179
2,098
141
2,762
143
(95,840)
Schedule 3. Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures and Transfers - Budget and Actual, Continued
Year ended June 30, 1986
with comparative figures for 1985
1986
Variance
favorable 1985
Budget Actual (unfavorable) Actual
Community and regional affairs liaison:
Telephone and telegraph
Advertising and public hearing
Printing and binding
Travel and per diem
Office supplies
Furniture and fixtures
Postage
Total community and regional
affairs liaison
Education support: \
Library
Community college
Village libraries
Public radio
Insurance
Professional services
Out of pocket expense
Total education support
Total expenditures
Transfers to other funds:
Special Revenue Funds:
Mental Health Center
Education
Buildings and grounds
Debt Service Funds:
School bonds
Other
Capital Projects Funds:
State Capital Grants
Hospital improvements
Total transfers to other funds
$ 500 $
2,113
500
-
1,000
205
1,000
(30)
1,000
60
1,000
-
-
99
5,000
60,000
33,000
24,500
7,500
233,000
19,000
3,095,390
2,447
60,000
33,000
24,500
7,500
242,501
22,000
3,357
2,773,710
60,000
1,270,000
26,610
286,690
123 810
TTfT;1L6
$4,862,500
60,000
1,270,000
26,610
286 690
10,359
123,810
b�
$4,551,179
$ (1,613)
500
795
1,030
940
1,000
(99 )
2,553
(9,501)
(3,000)
(3,357)
(15,858
321,680
(10,359)
36,000
15,000
129,536
15,700
-- 196,236
2,366,160
55,000
1,232,109
223,550
856,759
(Ib;35�S
$ 311,321
180,000
$4,913,578
39
SPECIAL REVENUE FUNDS
These funds are used to account for revenues from specific taxes or other
earmarked revenue sources which by law are designated to finance particular
functions or activities of government.
LAND SALES FUND
The Land Sales Fund accounts for the disposal of Borough -owned lands. The
proceeds of land disposals are generally limited to management of Borough lands.
FIRE AND ROAD SERVICE DISTRICTS
These funds account for the activities related to service districts established by
the voters within the district to provide road services and fire protection within
the service area. The primary sources of revenues are property taxes and
state - shared revenues directly related to road services of fire protection within
the service area.
FEDERAL REVENUE SHARING
This fund accounts for the receipt and expenditure of money received under the
Federal Revenue Sharing Program.
MENTAL HEALTH CENTER
This fund accounts for the operations of a mental health center financed by a
State of Alaska contract and user fees.
ENERGY FUND
This fund accounts for State of Alaska and Federal grants related to the effects
of coastal energy development impacts. Expenditures of these grants are for
comprehensive plans, coastal sensitivity analysis, outer continental shelf impact
analysis, ordinance update and planning and zoning.
DAY CARE FUND
This fund accounts for a State of Alaska grant to finance day care for children of
low- income, employed families.
EDUCATION
This fund accounts for the operations of the Kodiak Island Borough School
District. The School District is a component unit of the Kodiak Island Borough.
BUILDINGS AND GROUNDS
This fund accounts for the operations and maintenance of certain buildings and
grounds owned by the Borough which are jointly shared with the City of Kodiak, the
Kodiak Island Borough School District, the State of Alaska, the Kodiak Island
Borough and certain other not - for - profit community organizations.
KODIAK ISLAND BOROUGH
Special Revenue Funds
Combining Balance Sheet
June 30, 1986
with comparative totals for 1985
Fire and Road Service Districts
Assets
Equity in central treasury
Temporary investments
Other cash balances
Receivables:
State of Alaska
Federal government
Land sales contract, due within
one year
Accrued interest
Other
Allowance for doubtful receivables
Due from other funds
Inventories
Prepaid expenses
Land sales contracts receivable,
due after one year
Liabilities and Fund Balances
Liabilities:
Bank overdraft
Advance from central treasury
Accounts payable
Salaries payable
Payroll taxes accrued and withheld
Employee benefits accrued and
withheld
Other accrued liabilities
Customer deposits
Deferred and unrealized revenues
Due to other funds
Total liabilities
Fund balances:
Reserved for encumbrances
Reserved for fuel inventory
Unreserved:
Designated for subsequent year
expenditures
Undesignated
Total fund balances
Fire Road
Land Women s Monashka Women's
Sales Area 1 Bay Bay Dist. 1 Bay
$ 362,741 $ 184,273 $ 18,660 $ 21,143 $ 49,778 $ 7,992
2,000,000 - - - - -
251,261 - - - - -
88,420 - - - - -
29,212 - - - -
- 14,963 14,842 - - -
2,112,705 - - - - -
$4,844,339 $ 199,236 $ 33,502 $ 21,143 $ 49,778 $ 7,992
$ - $ - $ - $ -
229 158 13,002 891 4,713
- - 300 - - -
2,373,966 - - - -
2,373,
472 706 645 75 -
2,469 901 198 301 32 399 8,066 48 887 3,279
$4,844,339 $ 199,236 $ 33,502 $ 21,143 $ 49,778 1 7,992
40
Schedule 4
Federal and
State Grant Programs
Federal Mental Buildings
Revenue Health and Totals
Sha ring Center Energy Day Care Education Grounds 1986 198
$ 155,344 $ 52,875 $ - $ 689 $1,731,766 $ 169,766 $2,755,027 $3,041,116
- _ _ _ - - 2,000,000 2,240,384
100 - - 30,979 - 31,079 148,673
- 32,197 5,610 15,255 442,589 - 495,651 439,797
46,297 - - - 298,548 - 344,845 30,947
- - - - - - 251,261 227,307
- - 88,420 41,540
154 237 - - 13,168 - 196 617 105,238
(26,500) - - - - (26,500) (15,500)
- - - - 160,933
224,616 - 224,616 221,486
- - 29,805 -
- - - - - 2,112,705 2,407,539
$ 201,641 $ 212,909 $ 5,610 $ 15,944 $2,741,666 $ $8,503,526 $9,049,460
$ - $ - $ - $ - $ 83,404 $ - $ 83,404 $ -
5,610 - - - 5,610 4,024
19,839 - 15,117 63,438 8,313 125,700 192,567
- - - 823,977 - 823,977 531,305
- - - - 316,615 - 316,615 154,724
2,863 - - 169,958 - 172,821 428,668
- - - 160,110 - 160,110 198,935
- - 300 300
42,696 - 2,416,662 2,680,281
75,702 - 75 702 375,778
2,796 - - 136,008 900 141,602 303,439
- - - 62,098 - 62,098 72,000
- - - - 500,000 - 500,000 808,063
201 641 187 - 827 307 660 160 553 3,618 925 3,299 376
t 190 ,Z07 - - - 1,005,'766 - 161;�3 4� a; a82:878
$ 201,641 $ 212,909 $ 5,610 " $ 15,944 $2,741,666 $ 169,766 $8,503,526 $9,049,460
41
KODIAK ISLAND BOROUGH
Special Revenue Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
Year ended June 30, 1986
with comparative totals for 1985
Revenues:
Property taxes
State sources
Federal sources
Land sale proceeds
Licenses, permits, fees and
other local revenues
Investments and property
Total revenues
Expenditures:
Planning and community development
Health and sanitation
Education support
General administration
Capital improvements:
General
Service district maintenance
Total expenditures
Excess (deficiency) of
revenues over expenditures
Transfers from other funds
Transfers to other funds
Net transfers
Excess (deficiency) of revenues
and transfers from other funds
over expenditures and transfers
to other funds
Fund balances at beginning of year
Equity transfers to General Fund
Adjustment to reserve for fuel inventory
Fund balances at end of year
25,
1,569
Fire and
Road Service Districts
Fire
-
Road
Land
Joint
Women's
Monashka District
Sales
Census Area 1
Bay
Bay One
-
$110,437 $
19,368
$16,886 $ 13,661
-
- 19,248
1,417
7,312 11,819
535,223
- -
-
- 61,328
106,118
- 9,018
8,400
- -
112,026
- 15,252
-
- 6,263
25,
1,569
-
- 92,427
13,046
-
-
139,887
- 200
244
-
-
-
-
13,290
28 110
�8 110
20 441
611,911
- 61,328
15,895
(3,912
5,039
844
- 6,263
-
-
-
( 84�1�4
- (6, )
-
-
-
(233,073)
- 55,065
15,895
(3,912)
5,039
2,703,446
- 143,942
17,149
12,053
43,848
$2,470,373 $
- $199,007
$ 33,044
$ 8,141
$ 48,887
42
Schedule 5
43
Federal and
State
Grant Programs
Road
Federal
Mental
Buildings
Women's
Revenue
Health
and
Totals
Bay
Sharing
Center
Energy
Day Care
Education
Grounds
85
$ 2,152
$ -
$ -
$ -
$ -
$ -
$ -
$ 162,504
$ 142,546
28,749
-
657,543
56,846
207,762
19,968,064
-
20,958,760
20,222,390
-
182,362
-
-
-
795,632
-
977,994
862,222
-
-
-
-
-
-
535,223
593,593
5,000
-
297,280
-
-
151,284
-
577,100
723,978
-
35,901
2 882
27 252
�d6
302,813
460 225
,
584 015
2�I28
�
-7�
��$b
� , $T��6
-
56,846
-
-
-
58,415
213,955
-
84,400
981,541
-
207,276
-
-
1,273,217
1,159,337
-
9,600
-
-
-
16,021,840
-
16,031,440
16,120,873
-
40,000
-
-
-
-
326,118
471,591
466,403
-
-
-
-
-
-
140,331
47,357
86
�11
-
X4,0
-
98 4
-
�6,W
-
-- 2M - , P6
-
-
326,1
135,062
8�f30,�
107 221
8j115:146
x,840
(50,610
51,244
534
-
486
4,893,140
(23,305
5,561,750
5,013,598
-
-
60,000
-
-
1,270,000
26,610
1,356,610
2,074,110
-
-
-
55 498
4
-
-
-
6,161 966
-
- 26,61b
7 711
6 199 294
-
-
(4,891,966
(5,112,101)
(50,610)
51,244
5,036
-
486
1,174
3,305
(150,351)
888,414
53,889
150,397
185,171
-
341
1,014,494
158,148
4,482,878
3,530,069
-
-
-
-
-
-
-
-
(7,605)
-
-
-
-
-
(9,902
-
(9,902
72,000
$ 3,279
$ 201,641
$ 190,207
$ -
$ 827
$ 1,005,766
$ 161,453
$ 4,322,625
$4,482,878
43
Schedule 6
KODIAK ISLAND BOROUGH
Special Revenue Funds
Land Sales
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
44
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
State sources
$ 1,300
$ -
$ (1,300)
$ 1,297
Land sales proceeds
470,900
535,223
64,323
593,593
Penalty and interest
1,500
1,805
305
631
Permit fees
13,700
15,000
1,300
13,703
Investment income
185,000
112,026
(72,974)
240,573
Gravel sales
95,000
89,36/
(5 687)
98,300
Total revenues
4uu
��
)
7
Expenditures:
Capital improvements - general:
Survey and appraisal
212,500
139,787
72,713
10,285
Support costs
12,000
100
11,900
300
Planning and community development:
Land management
1,241,240
1,569
1,239,671
16,272
Land disposal grant
-
_ ($)
expenditures
Td�7��
� �
,
,
Total
Excess (deficiency) of revenues
over expenditures
(698,340)
611,911
1,310,251
927,569
Transfers to other funds
753,660
844,984
(91,324
15,000
Excess (deficiency) of revenues
over expenditures and
transfers to other funds
(1,452,000)
(233,073)
1,218,927
912,569
Fund balance at beginning of year
2,703,446
2,703,446
-
1,790,877
Fund balance at end of year
$1,251,446
$2,470,373
$1,218,927
$2,703,446
44
Schedule 7
KODIAK ISLAND BOROUGH
Special Revenue Funds
Borough /City Joint Census
Statement of Revenues, Expenditure and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
1986
Variance
favorable
Budget Actual (unfavorable)
Revenues $ - $ - $ -
Expenditures - general services -
professional services - - -
Excess of revenues over
expenditures - - -
Fund balance at beginning of year - -
Equity transfers to General Fund - -
Fund balance at end of year
1985
Actual
7,605
7,605
45
Schedule 8
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Districts - Fire
Area 1
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
46
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes
$ 106,210
$ 110,437
$ 4,227
$ 106,277
State shared revenue
24,010
19,248
(4,762)
24,016
Licenses, permits, fees and
other local revenues
9,000
9,018
18
-
Investments and property
12,780
15,252
2,472
7,633
-- 737,926
-- 737,926
Total revenues
- f5'�6tf6
�5�
1,955
Expenditures:
Capital improvements:
General
20,000
200
19,800
21,908
General services
137,000
97
39,573
- �373
83,025
Total expenditures
- T5T,�6
,627
Less charged to federal revenue
sharing
Net expenditures
5,000
6b�
5 000
,
-
9,000
Excess of revenues
over expenditures
-
61,328
61,328
41,993
Transfers to other funds
-
6,263
(6,263
-
Excess of revenues over
expenditures and transfers
-
55,065
55,065
41,993
Fund balance at beginning of year
143,942
143,942
-
101,949
Fund balance at end of year
$ 143,942
$ 199,007
$ 55,065
$ 143,942
46
Schedule 9
Revenues:
Property taxes
State shared revenue
Licenses, permits, fees and
other local revenues
Total revenues
Expenditures - general services:
Office supplies
Telephone and telegraph
Insurance and bonding
Repairs and maintenance
Utilities
Capital outlay
Other
Total expenditures
Less charged to federal revenue
sharing
Net expenditures
Excess (deficiency) of
revenues over expenditures
Transfers from Women's Bay Roads
Special Revenue Fund
Excess of revenues and
transfers from other funds
over expenditures
Fund balance at beginning of year
Fund balance at end of year
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Districts - Fire
Women's Bay
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
5,000 5,000 9,000
- z , (o � 10 ---- 2 - 5 - , - 279
- 15,895 15,895 (7,183)
- - 15,000
- 15,895 15,895 7,817
17,149 17,149 - 9,332
$ 17,149 $ 33,044 $ 15,895 $ 17,149
47
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
$ 17,630
$ 19,368
S 1,738
$ 9,866
1,170
1,417
247
2,170
7 200
8 400
29!185
1,200
3,18
6,000
x;036
1,460
508
952
223
440
363
77
344
8,000
8,211
(211)
9,271
2,800
863
1,937
880
5,200
5,274
(74)
4,393
4,230
244
3,986
14,864
3,870
2,827
1,043
4,244
26,000
18,290
7,710
34,219
5,000 5,000 9,000
- z , (o � 10 ---- 2 - 5 - , - 279
- 15,895 15,895 (7,183)
- - 15,000
- 15,895 15,895 7,817
17,149 17,149 - 9,332
$ 17,149 $ 33,044 $ 15,895 $ 17,149
47
Schedule 10
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Districts - Road
Monashka Bay
Statement of Revenues, Expenditures and
Changes in Fund Balance (Deficit) - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
48
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes
$ 16,530
$ 16,886
$ 356
$ 16,547
State shared revenue
6 700
7,312
612
—968U
8,363
Total revenues
Expenditures - Service district maintenance
35,610
28,110
7,500
26,658
Less charged to federal revenue sharing
-
-
-
9,000
—17,658
Net expenditures
Excess (deficiency) of revenues
over expenditures
(12,380)
(3,912)
8,468
7,252
Fund balance at beginning of year
12,053
12,053
-
4,801
Fund balance (deficit) at end of year
$ (327
$ 8,141
$ 8,468
$ 12,053
48
Schedule 11
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire. and Road Service Districts - Road
District 1
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
49
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes
$ 13,680
$ 13,661
$ (19)
$ -
State shared revenue
11 5�,7�0
�9
16
Total revenues
,
25,48
23
Expenditures - capital improvements -
service district maintenance:
Salaries
720
1,887
(1,167)
-
Repairs and maintenance
25,000
-
25,000
-
Contracted services
24,000
18,286
5,714
23,453
Other
200
268
(68)
194
49,92
9,479
23,647
Less charged to federal revenue
sharing
-
-
Net expenditures
49,92(l
Excess (deficiency) of
revenues over expenditures
(24,670)
5,039
29,709
1,720
Fund balance at beginning of year
43,848
43,848
-
42,128
Fund balance at end of year
$ 19,178
$ 48,887
$ 29,709
$ 43,848
49
Schedule 12
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Districts - Road
Women's Bay
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
1986
Revenues:
Property taxes
State shared revenue
Licenses, permits, fees and other
local revenues
Total revenues
Expenditures - capital improvements -
service district maintenance:
Staff salaries
Advertising and public hearings
Contracted services
Other
Less charged to federal revenue
sharing
Net expenditures
Excess (deficiency) of revenues
over expenditures
Transfers to Women's Bay Fire
Special Revenue Fund
Excess (deficiency) of revenues
over expenditures and transfers
Fund balance at beginning of year
Fund balance (deficit) at end of year
Variance
favorable
Budget Actual (unfavorable)
$ 2,110 $ 2,152 $ 42
30,790 28,749 (2,041)
5 5,000 -
�� � (1,999
1985
Actual
$ 9,856
42,230
5,000
720
596
124
- E
500
137
363
194
89,780
85,763
4,017
38
-
15
(15)
-
91,000
86,511
4,489
-
-
-
9,000
91,00U
- F6
- 4,4
2�
(53,100)
(50,610)
2,490
27,170
15,000 - 15,000 15,000
F
(68,100) (50,610) 17,490 12,170
53,889 53,889 - 41,719
$ (14,211 $ 3,279 $ 17,490 $ 53,889
50
Schedule 13
KODIAK ISLAND BOROUGH
Special Revenue Funds
Federal and State Grant Programs - Federal Revenue Sharing
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
Revenues:
Federal shared revenue
entitlement payments
Investment income
Total revenues
Expenditures:
Health and sanitation
contributions:
Women's Resource Crises Center
Council on Alcoholism
Small World Center
Senior citizen support
Health Center
American Red Cross
Mental Health Center
Kodiak ambulance service
Education contributions:
Kodiak Community College
Village libraries
Chiniak library
Head Start Program
City library
General services:
Kodiak Historical Society
Alaska Legal Services
Kodiak Art Council
Karluk IRA Council
Women's Bay road district
Road Service Monashka Bay
Women's Bay Fire District
Road Service District 1
Fire Service District 1
KMXT Public Radio
Total expenditures
Excess (deficiency) of revenues
over expenditures
Fund balance at beginning of year
Fund balance at end of year
1986
Variance
favorable 1985
Budget Actual (unfavorable) Actual
$ - $ 182,362 $ 182,362 $ 129,916
2 2 882 6 170
�u 185,244 183,24
14,000
14,000 -
14,000
22,000
22,000 -
22,000
22,400
22,400 -
19,324
14,000
14,000 -
14,000
-
- -
1,801
2,000
2,000 -
2,500
10,000
10,000 -
15,000
-
- -
24,000
6,000
6,000 -
24,000
-
- -
18,000
-
- -
9,700
3,600
3,600 -
3,576
-
- -
24,000
3,500
3,500 -
3,500
18,000
18,000 -
5,000
6,000
6,000 -
3,500
-
- -
14,000
-
9,000
-
- -
9,000
5,000
5,000 -
9,000
-
- -
9,000
5,000
5,000 -
9,000
2,500
2,500 -
5,000
134,000
134,000 -
267,901
(132,000)
51,244 183,244
(131,815)
150,397
150,397 -
282,212
$ 18,397
$ 201,641 $ 183,244
$ 150,397
51
Schedule 14
KODIAK ISLAND BOROUGH
Special Revenue Funds
Federal and State Grant Programs - Mental Health Center
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
Revenues:
State sources:
Grant
Shared revenue
CSP grants
Organization user fees
Individual user fees
Rental fees
Interest
Miscellaneous
Total revenues
Expenditures - health and sanitation -
mental health program:
Personnel
Travel
Facility
Supplies
Equipment
Other
Bad debts
Less charged to federal
revenue sharing
Net expenditures
Excess (deficiency) of revenue
over expenditures
Transfers from other funds
Transfers to other funds
Net transfers
Excess (deficiency) of revenues
and transfers from other
funds over expenditures
and transfers to other funds
Fund balance at beginning of year
Fund balance at end of year
(80,000
60,000
534
60,000
55,498
80,534
(55 498)
(80,247
55,000
(20,000) 5,036 25,036 (25,247)
185,171 185,171 - 210,418
$ 165,171 $ 190,207 $ 25,036 $ 185,171
52
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
$ 233,900
$ 233,900
$ -
$ 254,900
317,370
316,230
(1,140)
-
105,700
107,413
1,713
-
146,700
150,512
3,812
302,966
139,607
144,811
5,204
163,685
12,000
12,000
-
12,000
15,000
15,252
252
15,823
3,000
7T
1
(1 043)
,
2
770,467
716,433
54,034
631,763
22,800
20,044
2,756
11,713
48,900
44,821
4,079
47,265
97,798
89,940
7,858
46,722
14,112
14,169
(57)
7,354
109,200
95,149
14,051
90,847
-
1,063,277
10,985
(10 985)
736
11 091
846,755
10,000
1,053,277
10,000
981,541
-
--- T, 7
15 000
55
(80,000
60,000
534
60,000
55,498
80,534
(55 498)
(80,247
55,000
(20,000) 5,036 25,036 (25,247)
185,171 185,171 - 210,418
$ 165,171 $ 190,207 $ 25,036 $ 185,171
52
Schedule 15
KODIAK ISLAND BOROUGH
Special Revenue Funds
Federal and State Grant Programs - Energy
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
53
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
State sources:
Community and regional affairs grant 1986
$ 32,000
$ 24,854
$ (7,146)
$ -
Community and regional affairs grant 1985
31,992
31,992
-
8,008
Coastal sensitivity analysis
-
-
-
139,006
Karluk comprehensive plan
-
-
-
19,998
Larson Bay - Ouzinkie comprehensive plan
-
-
-
37 000
Total revenues
7T
- 7 — I( , "Z
— M,012
Expenditures - planning and
community development:
Coastal sensitivity analysis
-
-
-
139,006
Karluk comprehensive plan
_
_
_
19
Larson Bay - Ouzinkie
comprehensive plan
-
-
-
37,000
Ordinance update
31,992
31,992
-
8,008
Planning and zoning
32,000
24,854
7 146
-
Total expenditures
63,
56,846
7,346
204,0 2
Excess of revenues
over expenditures
_
_
Fund balance at beginning of year
Fund balance at end of year
$ _
$
53
Schedule 16
KODIAK ISLAND BOROUGH
Special Revenue Funds
Federal and State Grant Programs - Day Care
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
1986
Revenues from State of Alaska
Expenditures - day care payments
Excess of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
Variance
favorable
Budget Actual (unfavorable)
$ 212,359 $ 207,762 $ (4,597)
212,359 207,276 5,083
- 486 486
341
341
-
$ 341
$
827
$
486
1985
Actual
$ 215,298
214,957
341
$ 341
54
Schedule 17
55
KODIAK ISLAND BOROUGH
_
Special Revenue Funds
Education
Statement
of Revenues, Expenditures and
Changes in
Fund Balance - Budget
and Actual
Year
ended June 30, 1986
with
comparative figures for
1985
1986
-
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
State sources
$20,175,549 $19,968,064
$ (207,485)
$19,453,737
Federal sources
952,796
795,632
(157,164)
732,306
Food sales
98,247
99,910
1,663
91,552
Pupil activities
7,816
6,495
(1,321)
9,378
Other local revenues
20 700
980
X28
30 629
Total revenues
-
�'�,La�
�, 14
)
Expenditures:
g i �S9�q g7
Regular instruction
6,182,761
5,954,843
227,918
5,526,003
Vocational education instruction
807,600
765,569
42,031
878,134
Correspondence study instruction
113,316
110,616
2,700
151,333
Special education instruction
1,264,179
1,176,791
87,388
1,055,557
- Bilingual /bicultural education instruction
153,528
152,16
1,360
146,788
Supporting services - pupils
878,456
831,484
46,972
804,901
Supporting services - instruction
1,070,285
1,022,994
47,291
1,038,499
General support services
2,170,337
2,051,277
119,060
2,188,784
Operation and maintenance
3,343,471
2,871,177
472,294
3,157,037
Pupil transportation
419,486
412,290
7,196
410,183
Food services
327,022
285,216
41,806
286,040
Community services
109,880
100,313
9,567
112,466
Nonprogrammed charges
-
-
-
(575)
Pupil activities
325,661
287,102
38,559
286,447
Total expenditures
82
4Zf
1, 44,M
- T6741,597
Excess of revenues over expenditures
4,089,126
4,893,140
804,014
4,276,005
Transfers from other funds
1,270,000
1,270,000
-
1,745,560
Transfers to other funds
6 296 250
6,161,966
134,284
6,069 294
Net transfers
(� )
( 6�
134,284
(4,323,/34
Excess (deficiency) of revenues and
transfers from General Fund over
expenditures and transfers to School
Bond Debt Service Fund
(937,124)
1,174
938,298
(47,729)
Fund balance at beginning of year
1,014,494
1,014,494
-
990,223
Adjustment to reserve for fuel inventory
(9,902
(9,902
-
72,000
Fund balance at end of year
$ 67,468 $
1,005,766
$ 938,298
$ 1,014,494
55
Schedule 18
KODIAK ISLAND BOROUGH
Special Revenue Funds
Buildings and Grounds
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
56
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues:
Fines and forfeitures
$ -
$ 200
$ 200
$ -
Rental
284,710
283,639
(1,071)
282,913
Sales of property and equipment
-
-
-
-
Interest income
X 1 6
7�4
7
9
Total revenues
,
Expenditures:
Borough building
268,060
269,775
(1,715)
289,120
Apartments
43,500
37,824
5,676
49,812
Refuse collection and disposal
15,000
14,610
390
11,051
Parks operation and maintenance
Total
3 440
O;�b�
3,909
- ,II$ ,�$�
(469)
1,040
expenditures
Excess (deficiency)
of revenues over expenditures
(26,610
(23,305
3,305
(49,207
Transfers from General Fund
26,610
26,610
-
223,550
Transfers from Capital Projects Funds
200,000
-
(200,000
35,000
Total transfers from other funds
226,610
26,610
(200,000)
258,550
Transfers to Capital Projects Fund
200,000
-
200,000
100,000
Net transfers
26,610
26,610
-
158,550
Excess of revenues and transfers
from other funds over expendi-
tures and transfers to other funds
-
3,305
3,305
109,343
Fund balance at beginning of year
158,148
158,148
-
48,805
Fund balance at end of year
$ 158,148
$ 161,453
$ 3,305
$ 158,148
56
DEBT SERVICE FUNDS
These funds were established to finance and account for the payment of
interest and principal on all general obligation debt, serial and term, other
than that payable exclusively from special assessments and revenue debt issued
for and serviced by a governmental enterprise. Formerly called a Sinking
Fund.
HOSPITAL DEBT SERVICE FUND
This fund accounts for the accumulation of monies for payment of principal and
interest on $300,000 of Hospital term bonds maturing May 1, 1987.
SCHOOL DEBT SERVICE FUND
This fund accounts for the accumulation of money for payment of principal,
interest and fiscal agent fees related to serial bond debt incurred by the
Borough to construct schools.
OTHER DEBT SERVICE FUND
This fund accounts for the accumulation of money to pay the long -term portion
of the Borough's vested accrued annual leave.
Schedule 19
KODIAK ISLAND BOROUGH
Debt Service Funds
Combining Balance Sheet
June 30, 1986
with comparative totals for 1985
Hospital School Totals
Assets Bond Bonds Other 986 985
Cash and investments:
Equity in central treasury
$
309,107
$ 344,440
$
128,879
$ 782,426
$ 68,575
Cash with fiscal agent
-
2,428,664
-
2,428,664
2,758,652
Temporary cash investments
-
4,650,000
-
4,650,000
4,300,000
Accrued interest receivable
-
83,727
-
83,727
83,840
$
309,107
$7,506,831
$
128,879
$7,944,817
$7,211,067
Liabilities and Fund Balances
Advance from central treasury
$
-
$ 39,381
$
-
$ 39,381
$ 90,502
Fund balances - designated for
subsequent year expenditures
309,107
7,467,450
128,879
7,905,436
7,120,565
$
309,107
$7,506,831
$
128,879
$7,944,817
$7,211,067
57
Schedule 20
KODIAK ISLAND BOROUGH
Debt Service Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
Year ended June 30, 1986
with comparative totals for 1985
Hospital School
Bond Bonds
Revenues from interest income
Expenditures - debt service:
Principal
Interest
Fiscal agent fees
Total expenditures
Excess (deficiency) of
revenues over expenditures
Transfers from other funds:
General Fund
Special Revenue Funds:
Fire Service District Area 1
Mental Health Center
Education
1980 School Bond Improvements
Capital Projects Fund
Hospital Debt Service Fund
Transfers to School Debt Service Fund
Net transfers
Excess (deficiency) of revenues and
transfers from other funds over
expenditures and transfers to
other funds
Fund balances at beginning-of year
Fund balances at end of year
$ 25,044 $ 547,023
14,625
123
5,080,000
1,641,270
71,544
1�
10,296 (6,245,791
Totals
Other 1986 1985
$ - $ 572,067 $ 628,917
- 5,080,000 4,210,000
- 1,655,895 1,984,471
- 71,667 124
- �Bul'b6' 6,318,539
- (6,235,495 (5,689,622
-
286,690
10,359
297,049
856,759
-
-
6,263
6,263
-
-
-
55,498
55,498
-
-
6,161,556
-
6,161,556
5,653,132
-
500,000
-
500,000
-
-
-
13,750
6,96 6
-
72,
13
10,250
6,5 0
7,034,116
13 750
(13:750
-
6 6�
-
20
13,750
7,020,366
10,250
6,509,891
(3,454)
716,205
72,120
784,871
820,269
312,561
6,751,245
56,759
7,120,565
6,300,296
$ 309,107
$7,467,450
$ 128,879
$7,905,436
$7,120,565
58
Schedule 21
Revenues from interest income
Expenditures - debt service:
Interest
Fiscal agent fees
Total expenditures
Excess (deficiency) of revenues
over expenditures
Transfers to School Debt Service Fund
Excess (deficiency) of revenues
over expenditures and transfers
Fund balance at beginning of year
Fund balance at end of year
KODIAK ISLAND BOROUGH
Debt Service Funds
Hospital Bond
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative totals for 1985
1986
59
1985
Actual
$ 32,990
14,625
176
TT f
18,189
10,250
7,939
304,622
$ 312,561
Variance
favorable
Budget
Actual
(unfavorable)
$ 28,500
$ 25,044
$ (3,456
14,630
14,625
5
120
123
(3)
13,750
10,296
(3,454)
13,750
13,750
-
-
(3,454)
(3,454)
312,561
312,561
-
$ 312,561
$ 309,107
$ (3,454
59
1985
Actual
$ 32,990
14,625
176
TT f
18,189
10,250
7,939
304,622
$ 312,561
Schedule 22
KODIAK ISLAND BOROUGH
Debt Service Funds
School Bonds
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative totals for 1985
60
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues from interest income
S 390,000
$ 547,023
$ 157,023
$ 595,927
Expenditures - debt service:
Principal
5,580,000
5,080,000
500,000
4,210,000
Interest
2,319,620
1,641,270
678,350
1,969,846
Fiscal agent fees
100 380
— $,6 U W
71,544
28,836
-T, �
123 892
�$
Total expenditures
Excess (deficiency) of
revenues over expenditures
(7,610,000
(6,245,791
1,364,209
(5,707,811
Transfers from other funds:
General Fund
286,690
286,690
-
800,000
Education Special
Revenue Fund
6,021,160
6,161,556
140,396
5,653,132
Hospital Debt Service Fund
13,750
13,750
-
10,250
1980 School Bond Improvements
Capital Projects Fund
500,000
500,000
-
-
Total transfers from other
funds
6,821,600
6,961,996
140,396
6,463,382
Excess (deficiency) of
revenues and transfers
from other funds over
expenditures
(788,400)
716,205
1,504,605
755,571
Fund balance at beginning of year
6,751,245
6,751,245
-
5,995,674
Fund balance at end of year
$5,962,845
$7,467,450
$1,504,605
$6,751,245
60
Schedule 23
KODIAK ISLAND BOROUGH
- Debt Service Funds
Other Debt Service
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
Year ended June 30, 1986
with comparative totals for 1985
61
1986
Variance
favorable
1985
Budget
Actual
(unfavorable)
Actual
Revenues $ -
$ -
$ -
$ -
Expenditures -
-
-
-
Excess of revenues over expenditures -
-
-
-
Transfers from other funds:
General Fund -
10,359
10,359
56,759
Special Revenue Funds:
Fire Service District Area 1 -
6,263
6,263
-
Mental Health Center -
55,498
55,498
-
Excess of revenues and transfers
from other funds over expenditures -
72,120
72,120
56,759
Fund balance at beginning of year -
56,759
56,759
-
Fund balance at end of year $ -
$ 128,879
$ 128,879
$ 56,759
61
CAPITAL PROJECTS FUNDS
This fund was created to account for all resources used for the acquisition of
designated fixed assets by a governmental unit except those financed by
special assessment and enterprise funds.
LOCAL SERVICE ROADS AND TRAILS
This fund accounts for money received from the State of Alaska for the
construction of local service roads and trails.
STATE SCHOOL CONSTRUCTION
This fund accounts for money received from the State of Alaska for
construction of schools.
VARIOUS BOROUGH PROJECTS
This fund accounts for a variety of capital projects not accounted for in
another fund, including projects financed by the State of Alaska Municipal Aid
Program.
SCHOOL BOND IMPROVEMENTS
This fund accounts for the proceeds of the Borough general obligation bonds
issued for the construction of schools.
SCHOOL EQUIPMENT AND FURNISHINGS
This fund accounts for money transferred to the Kodiak Island Borough School
District from other Capital Projects Funds for the acquisition of school
equipment and furnishings.
STATE CAPITAL GRANTS
This fund accounts for capital grant monies received from the State of Alaska
for the construction of various projects.
KODIAK ISLAND BOROUGH
Capital Projects Funds
Combining Balance Sheet
June 30, 1986
with comparative totals for 1985
Local
Liabilities and Fund Balances
Liabilities:
Due to State of Alaska
Service
$ -
Various
$ -
Advance from central treasury
Roads
State School
Borough
School Bond
Assets
and Trails
Construction
Projects
Improvements
Cash and investments:
-
-
-
202,865
Equity in central treasury
$ 37,183
$ 243,757
$ 451,575
$ 482,142
Temporary cash investments
-
-
1,000,000
9,997,365
Receivables:
Other
-
-
-
-
State of Alaska
-
-
9,282
-
Accrued interest
-
-
15,412
41,484
Due from other funds
-
-
-
-
$ 37,183
$ 243,757
$1,476,269
$10,520,991
Liabilities and Fund Balances
Liabilities:
Due to State of Alaska
$ 1,650
$ -
$ -
$ -
Advance from central treasury
-
-
-
-
Accounts payable
-
-
-
378,884
Retainages payable
-
-
-
202,865
Deferred revenue
-
-
51,681
-
Total liabilities
1,6
-
5 T,
581,74
Fund balances (deficit):
Reserved for encumbrances
-
-
18,400
529,494
Unreserved - designated for
subsequent year expenditures
35,533
243,757
1 406 188
9 409 748
Total fund balances
35,533
243,7
$ 37,183
S 243,757
$1,476,269
$10,520,991
62
Schedule 24
School
Equipment
State
and
Capital
Totals
Furnishings
Grants
8
$ -
$ 608,309
$ 1,822,966
$ 837,690
-
1,978,735
12,976,100
7,623,132
-
169,241
169,241
-
-
337,487
346,769
29,042
_ -
9,455
66,351
155,942
78,440
-
78,440
215,758
$ 440
$3,103,227
$15,459,867
$8,861,564
$ -
$ -
$ 1,650
$ -
-
-
-
362,365
1,404
415,928
796,216
211,750
-
176,466
379,331
461,341
-
1,914,631
1,966,312
2,633,942
2,507,025
3,143,509
3,669,398
13,986
3,796,717
4,358,597
3,968,258
63,050
(3,200,515)
7,957 761
1 223,908
77,036
5 9
— M,316,358
5� 92,
$ 78,440
$3,103,227
$15,459,867
$8,861,564
63
KODIAK ISLAND BOROUGH
Capital Projects Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended June 30, 1986
with comparative totals for 1985
Revenues:
State sources
Federal sources
Investments and property
Licenses, fees, permits and other
local revenues
Total revenues
Expenditures:
Capital improvements:
School facilities
Other facilities
Planning and community development
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses):
Proceeds of bond sales
Environmental Protection Agency loan
Transfers from other funds
Transfers to other funds
Net other financing
sources (uses)
Excess (deficiency) of revenues
and other financing sources
over expenditures and other
financing uses
Fund balances at beginning of year
Fund balances at end of year
Local
Service
Roads
Various
and
State School
Borough
School Bond
Trails
Construction
Projects
Improvements
$ 1,483
$ -
$ 63,326
$ -
-
1,48 3
-
32,949
246,312
246, M
-
-
-
3,600,050
-
-
314,202
-
1,483
-
-
-
$'�
-
E�
-
-
(217,927
(3,353,738
9,668,184
-
-
1,491,324
-
_
_
_
(700,000
-
-
1,491,324
8,968,184
-
-
1,273,397
5,614,446
35,533
243,757
151,191
4,324,796
$ 35,533
$ 243,757
$1,424,588
$9
64
Schedule 25
School
Equipment
State
and
Capital
Totals
Furnishings
Grants
g _
$4,541,911
$ 4,606,720
$2,621,712
_
63,361
63,361
28,912
-
299,264
578,525
1,143,534
-
-
326,172
5,230,708
326,172
5,574,778
60,075
3,854,233
134,763
27,583
3,762,396
7,994,295
-
4,831,233
5,145,435
1,649,033
1 483
�9, 314
2 651
- 9 - , S
(134,763
371,892
(3,334,536
(5,791,746
_
-
9,668,184
-
375,000
375,000
410
123,810
1,615,544
617,947
-
(500,000
(1,200,000
(325,000
410
(1,190
10,458,728
292,947
(134,353)
370,702
7,124,192
(5,498,799)
211,389
225,500
5,192,166
10,690,965
$ 77,036
$ 596,202
$12,316,358
$5,192,166
65
KODIAK ISLAND BOROUGH
Capital Projects Fund
Schedule of Capital Projects
For the Year Ended June 30, 1986
Project
Sawmill /Lakeview
Appropriations
Prior 1986
Transfers
Other
Projects
(to) from -
Other
Funds
Total
Appropriation
Schools
Akhiok Airport Road
560,000
-
- -
560,000
47 -257
45 -245
School Auditorium
$10,428,912
$ -
$ -
$ -
$10,428,912
45 -249
Maintenance Shop
450,000
-
1,239,000
-
1 689 000
45 -230
Jr. High Renovation
8,158,056
44 -201
-
-
8,1 58;056
45 -286
Projects - 86 Bonds
-
9,668,184
-
-
9,668,184
47 -253
Asbestos Removal
-
2,750,000
-
-
2,750,000
47 -183
School Crossing Lights
-
100,000
65,000
-
165,000
47 -195
School Upgrade
169,000
-
-
-
169,000
N/A
School Equipment
211,389
-
-
410
211,799
Parks Improvement
- -
225,000
44 -189
Hospital.Design Dev.
275,000
44 -239
Park Development
21,500
44 -191
-
-
21,500
44 -254
Park Development
-
145,000
-
-
145,000
Road Projects
42 -148
Sawmill /Lakeview
106,340
-
- -
106,340
47 -258
Akhiok Airport Road
560,000
-
- -
560,000
47 -257
Lilly Dry -Woody Way
1,663,000
-
- -
1 663 000
47 -266
Antone /Belika /Melnits
595,000
-
- -
X95 000
47 -194
Area Wide Roads___._
1,562,180
�
__S001,.
44 -201
Sargent Creek Road
227 500
n( i -' -.
71 2,566 ' -
- 940 000
\`
47 -255
Lakeside Im
Imp
p-
2 149 000
598 200
�!� -. ". _ _
2,747
44 -281
Chiniak Subdivision
-
700,000
- -
700,000
47 -270
Kittiwake Drive
30,000
-
(25,000) -
5,000
47 -218
Pedestrian Bike Path
724,731
-
- -
724,731
Other
44 -186
Land Disposal FY -82
225,000
-
- -
225,000
44 -189
Hospital.Design Dev.
275,000
-
- -
275,000
44 -191
Land Disposal FY -85
60,000
-
- -
60,000
44 -133
X47
Borough Building Roof
-
-
- -
200,000
-158
Emergency Medical Services
-
124,313
- (32,000)
92,313
47 -159
Akhiok Medical Clinic
-
149,417
- -
149,417
47 -187
Hospital Construction
-
-
- 123,810
123,810
47 -188
Hospital Equipment - -,_ -,- -
-
132, 600
-_ -.
132,600
47 -189
Hospital Design Dev.
-
1,000,000
- __.
- -
1,000,000
47 -198
Karluk Fuel Delivery
85,000
-
- -
85,000
47 -206
Akhiok Landfill
100,000
-
- -
100,000
47 -210
Akhiok Fire Hall
50,000
-
-
50,000
47 -259
Karluk Electric System
260,000
100,000
- -
360,000
47 -260
Village Projects
300,000
-
- -
300,000
47 -263
Solid Waste Facility
2,780,000
2,780,000
47 -271
Karluk Public Building
-
100,000
- -
100,000
47 -274
Akhiok Equipment Shed
100,000
-
- -
100,000
47 -275
*/47
Akhiok Water Dam
-
180,000
- -
180,000
-316
Larsen Bay Landfill
100,000
-
- -
100,000
Undesignated
42 -209
35,533
- -
- 35,533
43 -209
243,757
- -
- 243,757
44 -209
_
45 -209
883,674
101,500 (1,439,000)
(500,000) (953,826)
47 -209
225,500
7 7 1 464
911 (65,000
/,cf.!, < !
- 1,071 764
Y So Y o00)
<5co, ooay ' r /,�:�:
Total Capital Projects
$32,552,572
$16,987,978 $ -
$ (407,780 $49,132,770
66
7,867
12,295
13,633
26,024
106,681
10,500 96,181
85,472
1,483
19,385
-
Schedule 26
17,354
228,845
i
52,652
261,149
342,834
2,206
1,317,960
-
1,317,960
- 151,913
316,713
126,374
-
126,374
86,310
7
143,114
25,186
117,928
- -- -- - -- -
-
_ - . __ - 4;0iQ
- -- - 9 ,958
-
935,958
-
630,959
2,116,241
1,342,816
773,425
-
1,642
698,358
-
Unencumbered
2,164
Expenditures
Unexpended
Current
Balance
Prior
1986
Balance
Encumbrances
(Available)
$ 7,378,548
$2,522,572
$ 527,792
$ 4,513
$ 523,279
63,304
1,073,416
552,280
524,981
27,299
8,153,994
4,062
-
-
-
-
-
9,668,184
-
9,668,184
-
876,722
1,873,278
1,562,652
310,626
-
159,283
5,717
-
5,717
127,704
27,583
13,713
-
13,713
-
134,763
77,036
13,986
63,050
7,867
12,295
13,633
26,024
106,681
10,500 96,181
85,472
1,483
19,385
-
19,385
17,354
228,845
313,801
52,652
261,149
342,834
2,206
1,317,960
-
1,317,960
- 151,913
316,713
126,374
-
126,374
86,310
645,256
143,114
25,186
117,928
- -- -- - -- -
-
_ - . __ - 4;0iQ
- -- - 9 ,958
-
935,958
-
630,959
2,116,241
1,342,816
773,425
-
1,642
698,358
-
698,358
2,164
2,836
-
-
-
52,657
672,074
-
-
-
176,053
48,947
-
-
-
79,898
195,102
-
-
-
16,990
20,312
22,698
7,900
14,798
-
4,500
195,500
-
195,500
-
-
92,313
-
92,313
52
104,700
44,665
40,750
3,915
-
123,810
-
123,810
_- _- _
117,422___
___..._15,17
_._._..-- -•. - -_
1.,.7_8
-
»�`T ;1'Sr
944, 819
583, 819
361,000
60,969
24,031
-
-
-
13,014
31,456
55,530
-
55,530
36,802
13,198
-
-
-
16,361
343,639
-
-
-
250,000
25,705
24,295
-
24,295
254,460
465,717
2,059,823
167,956
1,891,867
-
-
100,000
-
100,000
-
70,825
29,175
-
29,175
-
42,778
137,222
20,886
116,336
102,589
1,268
(3,857)
-
(3,857)
-
-
35,533
-
35,533
-
-
243,757
-
243,757
-
-
(953,826)
-
(953,826)
-
419
1,071,345
y
-
1,071,345
nO
$17,489,604
$8,909,314
$22,733,852
$4,358,597
$18,378
67
ENTERPRISE FUNDS
These funds were established to finance and account for the acquisition,
operation and maintenance of governmental facilities and services which are
entirely or predominantly self- supporting by user charges.
WATER AND SEWER ENTERPRISE FUND
This fund accounts for all activity of the Borough owned and operated water
and sewer utility.
HOSPITAL ENTERPRISE FUND
This fund accounts for all activity of the Kodiak Island Borough Hospital.
The Hospital is a component unit of the Kodiak Island Borough. The Hospital
is operated on behalf of the Borough by the Lutheran Hospitals and Homes
Society of America.
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Balance Sheet
June 30, 1986
with comparative figures for 1985
Water
and
68
Sewer
Totals
Assets
Utility
Hospital
1986
1985
Current assets:
Equity in central treasury
$ 147,928
$ -
$ 147,928
$ 93,952
Other cash balances
-
56,448
,448
56,448
-
- 93,952
X 104,376
Receivables:
Lutheran Hospitals and Homes Society
of America
-
295,984
295,984
250,543
City of Kodiak
-
9,352
9,352
5,004
Third party patient payors
-
628,349
628,349
88,000
Customers and patients
� 28 75
1, 221,449
1,250,207
933,779
LAS, 758
2
�,T$�2
1,277,32
Less allowance for doubtful receivables
9,
110,000
119,283
189,283
Net receivables
- 19,475
2,045,134
2
- 1,088,043
Inventories, at cost
-
134,374
134,374
105
Prepaid expenses
-
12,330
12
Total current assets
�63�
�;f4$,2$5
M
, ,
Restricted assets:
Temporary investments
3
-
3,850,000
1,997,787
Accrued interest receivable
7,042
-
7
52,951
Receivable from Lion Capital Group
-
-
-
1,000,000
Total restricted assets
3 2
-
,55T0
, 50,TT8
Long -term receivable from Lutheran
Hospitals and Homes Society of America
-
820,000
820,000
885,000
Property, plant and equipment, at cost:
Unclassified utility plant in service
10,560,618
-
10,560,618
3,301,764
Hospital building and fixed equipment
-
3,950,226
3,950
3,950,226
Major movable equipment
-
�0,M
1,265,640
5
1
5,TT5�4
1
8 40
Less accumulated depreciation
395 018
1
3,581,303 3,5
2
1
b
10
,30
Construction work in progress
1,214
38
-
1
14,961,521
5,623,659
12,298,Z65
Net property, plant and equipmen
$15,404,663
$6
$22,054,252
$17,543,046
68
Schedule 27
Retained earnings:
Designated for receivable from Lion
- Capital Group -
Undesignated 620,114
Total retained earnings
-- Total fund equities 12,000,332
$15,404,663
1,000,000
2,963 456 3,583,570 1,547,138
2,9 63,456 3, 5 8 Y, 2,53$
6,443,093 18,443,425 14,694,574
$ 6,649,589 $22,054,252 $17,543,046
69
Water
and
Sewer
Totals
Liabilities and Fund Equities
Utility
Hospital
1986
1985
Liabilities:
Payable from current assets:
Bank overdraft
$ -
$ -
$ -
$ 28,708
Accounts payable
17,045
33,043
50,088
10,403
Customer deposits
6,720
-
6,720
5,214
Accrued compensation
-
168,641
168,641
129,829
Other accrued liabilities
Total payable from current assets
-
4,812
206,496
4,812
- 23 0,2 6 6T
943
175,097
Payable from restricted assets:
Advance from central treasury
1,697,440
-
1,697,440
33,695
Contracts payable
128,157
-
128,157
485,140
Retainage payable
149,110
-
149,110
128,377
Unearned grant receipts
1,405 859
-
1,405,859
2,026,163
-2
Total payable from restricted assets
� 6,
-
��,5
Total liabilities
3,404,331
206,496
3,610,827
2,848,472
Fund equities:
Contributions in aid of construction:
City of Kodiak
229,166
-
229,166
229,166
- State of Alaska
11,325,941
-
11,325,941
8,476,129
Federal government
220,129
2,237,104
2,457,233
2,457,233
Kodiak Island Borough
-
1,242,533
3,479,63/
1,242,533
15,254,873
1,237,007
12,399,535
11,775,236
Less amortization of contributions in
aid of construction
395,018
-
395,018
252,099
Net contributions in aid of construction
,21
3,479,6
14,859,853
12,147,436
Retained earnings:
Designated for receivable from Lion
- Capital Group -
Undesignated 620,114
Total retained earnings
-- Total fund equities 12,000,332
$15,404,663
1,000,000
2,963 456 3,583,570 1,547,138
2,9 63,456 3, 5 8 Y, 2,53$
6,443,093 18,443,425 14,694,574
$ 6,649,589 $22,054,252 $17,543,046
69
Schedule 28
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings
Year ended June 30, 1986
with comparative totals for 1985
70
Water
and
Sewer
Totals
Utility
Hospital
19u
19F
Revenues:
Water sales
$ 138,195
$ -
$ 138,195
$ 119,472
Sewer service charges
147,409
-
147,409
105,066
Patient revenues
-
5,261,182
5,261,182
4,060,077
Installation charges
4,107
-
4,107
23,972
Other
2,368
102,183
104,551
- S - , - 655,444
91,507
Total revenues
079
��
�
Operating expenses:
Personal services
25,303
-
25,303
19,561
Purchased water and sewer treatment
182,173
-
182,173
156,122
Repairs and maintenance
24,608
-
24,608
9,731
Bad debts
-
-
-
9,283
Depreciation
142,919
225,859
368,778
227,995
Installation costs
15,926
-
15,926
5,834
Professional care of patients
-
2,442,601
2,442,601
2,385,453
Plant operations and household
-
840,965
840,965
857,671
General administration
-
1,277,275
1,277,275
1,095,791
Other
16,437
-
16
5
Total operating expenses
4b7
5,194,U
4,//Z,636
Operating income (loss)
(115,287
576,665
461,378
(372,542
Other income (expense):
Interest income
110,497
-
110,497
176,914
Interest expense
(939)
Other, primarily State of Alaska revenue sharing
-
321,638
321,638
293,243
43
469,218
Net earnings (loss)
(4,790)
898,303
893,513
96,676
Amortization of contributions
in aid of construction
142,919
-
142,919
22,933
Increase in retained earnings
- 138,1
� 3
6 , 4 2
--TrMU9
Retained earnings at beginning of year
481,985
2,065,153
2,547,138
2,427,529
Retained earnings at end of year
$ 620,114
$2,963,456
$3,583,570
$2,547,138
70
Schedule 29
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Statement of Changes in Financial Position
Year ended June 30, 1986
with comparative totals for 1985
Water
and
Sewer Totals
Utility Hospital 1986 1985
Financial resources provided:
Net earnings (loss)
Depreciation which does not use working capital
Working capital provided by operations
State of Alaska grants
Federal grants
Contribution from Kodiak Island Borough
General Fund for purchase of equipment
Reduction of long -term receivable
Total financial resources provided
Financial resources used:
Acquisition of property, plant and equipment
Increase in working capital
Changes in components of working capital:
Increase (decrease) in:
Current assets:
Other cash balances
Equity in central treasury
Receivables
Inventories
Prepaid expenses
Restricted assets:
Equity in central treasury
Time certificates of deposit
Accrued interest receivable
-- Receivable from Lion Capital Group
Current liabilities payable from current assets:
_ Bank overdraft
Accounts payable
Customer deposits
Accrued liabilities
Current liabilities payable from restricted assets:
- Advance from central treasury
Contracts payable
Retainage payable
Unearned grant receipts
Increase in working capital
$ (4,790)
$ 898,303
$ 893,513
$ 96,676
142
225,859
368,778
227,995
138,1
(30,907)
1,852,213
8T4 , 6�
2,849,812
-
2,849,812
1,380,759
-
-
-
1,992,387
-
5,526
5,526
237,491
-
65 000
65
15,000
2,987,941
4,688
4,182,629
2,849,813
182,221
3,032,034
3,715,592
$ 138,128
$1,012,467
$1,150,595
$ 234,716
$ - $ 56,448
53,976 -
(6,813) 983,379
28,827
(9,171)
1,852,213
(45,909)
(1,000,000)
853,4
1,059,483
8
(28,708)
6,642 33,043
1,506 -
- 42,681
1,663,745 -
(356,983) -
20,733 -
(620,304) -
715,339
$ 138,128 11,012,467
71
$ 56,448 $
53,976
34,292
976,566
(27,467)
28,827
8,406
(9,171)
10,084
-
(30,907)
1,852,213
997,787
(45,909)
40,451
(1,000,000)
-
1
32, 46
(28,708)
25,212
39,685
(31,988)
1,506
(1,332)
42,681
(23,538)
1,663,745
33,695
(356,983)
(166,611)
20,733
(95,515)
(620,304)
1,058,007
92 ,355
-- 7 - 97 - , - 970 -
$1,150,595 $ 234,716
Schedule 30
KODIAK ISLAND BOROUGH
Water and Sewer Enterprise Fund
Balance Sheet
June 30, 1986
with comparative figures for 1985
Assets 1986 1985
Current assets:
Equity in central treasury $ 147,928 E 93,952
Customer receivables 28,758 35,571
Less allowance for doubtful receivables _�� 9,
Net customer receivables
Total current assets 167,403 120.240
Restricted assets:
Temporary investments 3,850,000 1,997,787
Accrued interest receivable 7,042 52,951
Receivable from Lion Capital Group - 1,000,000
Total restricted assets 3,857,042 3,050,738
Property, plant and equipment:
Unclassified utility plant in service 10,560,618 3,301,764
Accumulated depreciation 395,018 252,099
Net utility plant in service �,TT X65
Construction work in progress 1,214,618 5,623,659
Net property, plant and equipments 8,6
$15,404,663 $11,844,302
Liabilities and Fund Equity
Liabilities:
Current liabilities:
Payable from current assets:
Accounts payable
S 17,045
$ 10,403
Customer deposits
6,720
5,214
Total payable from current assets
23,76
�ST�T
Payable from restricted assets:
Advance from central treasury
1,697,440
33,695
Contracts payable
128,157
485,140
Retainage payable
149,110
128,377
Unearned grant receipts
1 405,859
2,026,163
Total payable from restricted assets
�, 8�?66
,673,
Total liabilities
3,404,331
2,688,992
Fund equity:
Contributions in aid of construction:
City of Kodiak
229,166
229,166
State of Alaska
11,325,941
8,476,129
Federal government
220,129
220 129
5,2
8,925Zd24
Accumulated amortization
395,018
252,099
Net contributions in aid of construction
— F,380,218
Retained earnings (deficit):
Designated - receivable from Lion Capital Group - 1,000,000
Undesignated 620,114 (518,015)
Total retained earnings 620,114 481,985
Total fund equity 12,000,332 9,155,310
$15,404,663 $11,844,302
72
Schedule 31
KODIAK ISLAND BOROUGH
Water and Sewer Enterprise Fund
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
Year ended June 30, 1986
with comparative figures for 1985
1986
variance
favorable 1985
Budget Actual (unfavorable) Actual
Revenues:
Water sales
Sewer service charges
Installation charges
Other
Total revenues
Operating expenses:
Water:
Personal services
Electric
Rent
Purchased water
Depreciation
Training
Advertising and hearings
Printing and binding
Repairs and maintenance
Contracted services
Automotive and travel
Office supplies and postage
Installation costs
Small tools
Bad debt expense
Total water
Sewer:
Personal services
Electric
Rent
Purchased sewer treatment
Depreciation
Training
Advertising and hearings
Repairs and maintenance
Contracted services
Automotive and travel
Office supplies and postage
Installation costs
Small tools
Bad debts
Total sewer
Total operating expenses
Operating income (loss)
Other income (expense):
Interest income
$ 150,000
$ 138,195
$ (11,805)
$ 119,472
100,000
147,409
47,409
105,066
33,050
4,107
(28,943)
23,972
-
�ubu
2
x;0/9
2,368
X6 5
11,520
11,514
6
10,555
1,000
205
795
1,590
-
351
(351)
-
87,500
79,023
8,477
84,369
7,500
51,476
(43,976)
6,490
1,500
9,313
(7,813)
669
250
-
250
109
500
-
500
230
39,000
14,847
24,153
5,291
12,500
-
12,500
-
1,000
526
474
-
1,600
931
669
417
5,000
11,198
(6,198)
5,764
1,000
-
1,000
342
-
-
-
4,642
,3$if
�(9, 1
8,180
13,789
(5,609)
9,006
-
1,419
(1,419)
1,450
-
270
(270)
-
75,000
103,150
(28,150)
71,753
7,500
91,443
(83,943)
16,444
1,000
2,366
(1,366)
16
-
-
-
30
1,000
9,761
(8,761)
4,440
12,500
-
12,500
-
1,000
586
414
-
-
470
(470)
-
5,000
4,728
272
70
2,000
-
2,000
342
4
z
283,050
407,366
(124,316)
228,660
-
(115,287)
(115,287)
19,850
-
110,497
110,497
176,914
-
-
-
(939)
-
-
-
840
-
-- Tff, 07
-- r7F, - 97
5 -
(4,790)
(4,790)
196,665
148,
12
1
481,985
481,985
-
262,387
$ 481,985
$ 620,114
$ 138,129
$ 481,985
73
Schedule 32
KODIAK ISLAND BOROUGH
Water and Sewer Enterprise Fund
Statement of Changes in Financial Position
Year ended June 30, 1986
with comparative figures for 1985
1986 1985
Financial resources provided:
Net earnings (loss) $ (4,790) $ 196,665
Depreciation which does not use working capital 142 919 22,934
Working capital provided by operations 138:129
State of Alaska grants 2,849,812 1,380,759
Federal grants - 1,992,387
Total financial resources provided — FIg$71 - W 3,592,745
Financial resources used - acquisition of property,
plant and equipment
2,849,813
3,373,146
Increase in working capital
$ 138,128
$ 219,599
Changes in components of working capital:
Increase (decrease) in:
Current assets:
Equity in central treasury
$ 53,976
$ 34,292
Customer receivables
(6,813)
6,491
Restricted assets:
Equity in central treasury
-
(30,907)
Temporary investments
1,852,213
997,787
Accrued interest receivable
(45,909)
40,451
Receivable from Lion Capital Group
(1 000 000)
-
7
1,048,114
Current liabilities:
Payable from current assets:
Accounts payable
6,642
271
Customer deposits
1,506
(1,332)
Payable from restricted assets:
Advance from central treasury
1,663,745
33,695
Contracts payable
(356,983)
(166,611)
Retainage payable
20,733
(95,515)
Unearned grant receipts
(62
1,0 ��5T5
Increase in working capital
$ 138,128
$ 219,599
74
75
Schedule 33
KODIAK ISLAND BOROUGH
-
Hospital Enterprise Fund
Balance Sheet
-
December 31, 1985
with comparative figures for 1984
Assets
1985
1984
Current assets:
Other cash balances
$ 56,448
$ -
Receivables:
Patient and resident, less estimated
allowances
and uncollectibles of $110,000 in 1985
and
$180,000 in 1984
1,111,449
718,208
Lutheran Hospitals and Homes Society
of America
295,984
250,543
City of Kodiak
9,352
5,004
Third party
628,349
88,000
Inventories, at cost
134,374
105,547
Prepaid expenses
12 330
21,501
Total current assets
— d$;tm
Receivable from Lutheran Hospitals and
Homes
Society of America
820,000
885,000
Building and equipment, at cost:
Building and fixed equipment
3,950,226
3,950,226
Major movable equipment
1 265,640
1,083,418
5,�
55,0
Less accumulated depreciation
1,634,563
1,408,703
Net building and equipment
$6,649,589
$5,698,744
Liabilities and Fund Equity
Current liabilities:
Bank overdraft
$ -
$ 28
- Accounts payable
33,043
-
Accrued liabilities:
Compensation
168,641
129,829
Other
4,812
943
Total current liabilities
-- M — , d�
Fund equity
6,443,093
5,539,264
$6,649,589
$5,698,744
75
KODIAK ISLAND BOROUGH
Hospital Enterprise Fund
Statement of Revenues, Expenses and
Changes in Fund Equity
Year ended December 31, 1985
with comparative figures for 1984
Operating revenues:
Patient and resident service
Less allowances for uncollectible accounts
Net patient and resident service revenues
Other operating revenues
Total operating revenues
Operating expenses:
Professional care of patients and residents
General and administrative
Plant operation and household
Depreciation
Total operating expenses
Operating income (loss)
Other income, primarily State of Alaska revenue sharing
Net earnings (loss)
Fund equity at beginning of year
Equity transfers from Kodiak Island Borough
Fund equity at end of year
1985
$5,085,453
175 729
5,261,18
102 102 183
2,442,601
1,277,275
840,965
225 859
4,786, 7 00
576,665
321,638
898,303
5,539,264
5,526
$6,443,093
Schedule 34
1984
$4,664,200
604,123
4,060,077
91,507
4, ,584
2,385,453
1,095,791
857,671
,
(392,392)
292,403
(99,989)
5,401,762
237,491
$5,539,264
rr1
Schedule 35
KODIAK ISLAND BOROUGH
Hospital Enterprise Fund
Statement of Changes in Financial Position
Year ended December 31, 1985
with comparative figures for 1984
Financial resources provided:
Net earnings (loss) from operations
Depreciation which does not require working capital
Working capital provided (used) by operations
Contribution from Kodiak Island Borough
General Fund for equipment purchases
Reduction of receivable from Lutheran
Hospitals and Homes Society of America
Total financial resources provided
Financial resources used:
Construction of building improvements
and purchase of equipment
Total financial resources used
Increase in working capital
Changes in components of working capital:
Increase (decrease) in:
Current assets:
Other cash balances
Receivables
Inventories
Prepaid expenses
Current liabilities:
Bank overdraft
_- Accounts payable
Accrued liabilities
Increase in working capital
1985
$ 898,303
225,859
1,124,1
5,526
65 000
182,221
$1,012,467
$ 56,448
983,379
28,827
(9 171)
- 1.659,483
(28,708)
33,043
42,681
$1,012,467
1984
$ (99,989)
205,061
237,491
15,000
,56
342,446
342,446
$ 15,117
(33,958)
8,406
10,084
(15,468
25,212
(32,259)
(23,538)
(30,585
$ 15,117
77
TRUST AND AGENCY FUNDS
Trust and Agency Funds are used to account for assets held by a government in
a trustee capacity or as an agent for individuals, private organizations,
other governments, and /or other funds.
STUDENT ACTIVITIES FUND
- This fund accounts for the operations of the various Kodiak Island Borough
School District student organizations.
DEFERRED COMPENSATION FUND
This fund accounts for deferred compensation and accumulated earnings thereon
for participants in the Borough's IRC Section 457 Deferred Compensation Plan.
Schedule 36
ASSETS
Cash
ICMA investments
Other receivables
LIABILITIES
Accounts payable
Due to General Fund
Due to student organizations
Due to participants
KODIAK ISLAND BOROUGH
Combining Balance Sheet
Agency Funds
June 30, 1986
with comparative totals for 1985
Student
Deferred
Total
Activities
Compensation
1986
19F
$ 76,680
$ -
$
76,680
$
75,680
238,093
238,093
133,716
2,289
-
2,289
718
$ 78,969
$ 238,093
$
317,062
$
210,114
$ 2,048
$ -
$
2,048
$
1,337
2,738
-
2,738
913
74,183
-
74,183
74,148
-
238,093
238,093
133,716
$ 78,969
$ 238,093
$
317,062
$
210,114
78
Schedule 37
KODIAK ISLAND BOROUGH
Combining Statement of Changes in Assets, Liabilities
and Fund Balances
Agency Funds
Year ended June 30, 1986
STUDENT ACTIVITIES FUND
ASSETS
Cash, including time certificates
of deposit
Other receivables
LIABILITIES
Accounts payable
Due to General Fund
Due to student organizations
DEFERRED COMPENSATION FUND
ASSETS
ICMA investments
LIABILITIES
Due to participants
Balance at Balance at
July 1, 1985 Additions Deductions June 30, 1986
$75,680
$177,602
$176,602
$76,680
718
2,289
718
2,289
$76,398
$179,891
$177,320
$78,969
$ 1,337
$ 2,048
$ 1,337
$ 2,048
913
1,825
-
2,738
74,148
176,018
175,983
74,183
L76,398
$179,891
$177,320
$ 78,969
$133,716
$133,716
$104,377
$104,377
$238,093
$238,093
79
GENERAL FIXED ASSETS ACCOUNT GROUP
This is a self- balancing account group which records fixed assets of the
- Borough and School District other than those recorded in the Water and Sewer
and Hospital Enterprise Funds.
Cnl,-A..Ie 10
KODIAK ISLAND BOROUGH
General Fixed Assets Account Group
Statement of General Fixed Assets by Source
June 30, 1986
(Unaudited)
General fixed assets:
Land
Buildings
Improvements other than buildings
Machinery and equipment
Construction work in progress
Investment in general fixed assets:
Capital Projects Fund:
General obligation bonds
Federal grants
State grants
General Fund revenues
Special Revenue Funds revenues
Contribution from State of Alaska
Gift
$106,474,568
49,397,555
730,239
2,426,929
1,136,720
$160,166,011
$ 32,006,540
1,067,816
15,048,057
2,575,274
130,386
105,237,538
4,100,400
$160,166,011
.1
KODIAK ISLAND BOROUGH
General Fixed Assets Account Group
Statement of General Fixed Assets
by Function and Activity
June 30, 1986
(Unaudited)
Schedule 39
81
Improvements
Machinery
Other Than
and
Total
Land
Buildings
Buildings
Equipment
Staff agencies:
Borough mayor
$ 6,868
$ -
$ -
$ -
$ 6,868
Borough clerk
16,659
-
-
-
16,659
Finance
32,768
-
-
-
32,768
Assessing
10,050
-
-
-
10,050
Community development
13,979
-
-
-
13,979
Engineering
38,067
-
-
-
38,067
Data services
221,436
-
-
-
221,436
Resource management
1,995
-
-
-
1,995
Facilities
31,983
-
-
-
31,983
General administration
81,355
-
-
-
81,355
Mental health
55,353
-
-
-
55,353
Total staff agencies
513
-
-
-
Public safety:
Fire Protection Area 1
625,291
-
423,750
-
201,541
Women's Bay Fire District
606,698
-
425,655
-
181,043
Total public safety
--- f�,989
-
849,4
-
382,584
Schools
46,182,855
-
44,649,023
-
1,533,832
Teacher housing
89,380
-
89,380
-
-
General governmental buildings
3,809,747
-
3,809,747
-
-
Building sites
4,745,793
4,745,793
-
Playgrounds
710,239
-
-
710,239
-
Docks
20,000
-
-
20,000
-
Total general fixed assets
allocated to functions
57,300,516
4,745,793
49,397,555
730,239
2,426,929
Undeveloped land
101,728,775
101,728,775
-
-
-
Construction work in progress
1,136,720
-
1,136,720
-
-
Total general fixed assets
$160,166,011
$106,474,568
$50,534,275
$ 730,239
$2,426,929
-V
81
82
Schedule 40
KODIAK ISLAND
BOROUGH
General Fixed Assets
Account Group
Statement
of Changes in General Fixed Assets
by Function and
Activity
Year ended June
30, 1986
(Unaudited)
Function
General Fixed
General Fixed
and
Assets at
Assets at
Activity
July 1, 1985
Additions
Deductions
June 30, 1986
Staff agencies:
Borough mayor
$ 6,868
$ -
$ -
$ 6,868
Borough clerk
13,379
5,975
2,695
16,659
Finance
28,215
8,079
3,526
32,768
_ Assessing
7,355
2,695
-
10,050
Community development
9,657
4,981
659
13,979
Engineering
33,224
4,843
-
38,067
Data services
194,796
26,640
-
221,436
_ Resource management
-
1,995
-
1,995
Facilities
30,476
1,507
-
31,983
General administration
70,423
10,932
-
81,355
Mental health
46,069
9,284
-
55,353
Total staff agencies
440,
-- T6,93�
6,880
510,51 3
Public safety:
Fire Protection Area 1
624,791
500
-
625,291
Women's Bay Fire District
606,698
-
-
606,698
Total public safety
9
500
_
1
Schools
36,056,671
10,126,184
-
46,182,855
_ Teacher housing
89,380
-
-
89,380
General governmental buildings
3,809,747
-
-
3,809,747
Building sites
4,745,793
-
-
4,745,793
Playgrounds
710,239
-
-
710,239
-- Docks
20,000
-
-
20,000
Total general fixed assets
allocated to functions
47,103,781
10,203,615
6,880
57,300,516
Undeveloped land
101,728,775
-
-
101,728,775
Construction work in progress
7,441,852
3,600,050
9,905,182
1,136,720
Total general fixed assets
$156,274,408
$13,803,665
$9,912,062
$160,166,011
82
GENERAL LONG -TERM DEBT ACCOUNT GROUP
This is a self - balancing account group which records the Borough's unmatured
general long -term debt. This debt is payable from monies presently in the
various Debt Service Funds and from future general Borough revenues. The debt
is backed by the full faith and credit of the Borough.
Schedule 41
KODIAK ISLAND BOROUGH
General Long -Term Debt Account Group
Statement of General Long -Term Debt
June 30, 1986
with comparative figures for 1985
1986 1985
Amount available and to be provided for
the payment of general long -term debt:
Amount available in Debt Service Funds:
Hospital term bonds
School serial bonds
Accrued annual leave
Amount to be provided:
_ Hospital term bonds
School serial bonds
Environmental Protection Agency loan
General long -term debt payable:
Hospital term bonds
General obligation school bonds:
$ 309,107
7,467,450
128,879
7
(9,107)
22,897,550
375,000
23,263,443
t1l 19A A74
$ 312,561
6,751,245
56,759
7,120,565
(12,561)
18,763,755
8,5,94
$25,871,759
$ 300,000 $ 300,000
1967 Improvement
100,000
1974A
Refunding
-
1974B
Refunding
1,900,000
1980A
Improvement
10,785,000
1983A
Jr. High Renovation
1,000,000
1984B
High School Auditorium
6,650,000
1986A
Improvement
9,930,000
30,365,000
Environmental Protection Agency loan 375,000
Accrued annual leave 128,879
t11.16R_R79
150,000
210,000
1,900,000
11,155,000
3,800,000
8,300,000
25,5 5,000
56,759
05_01.759
STATISTICAL TABLES
Statistical tables reflect social and economic data, financial trends and the
fiscal capacity of the governmental unit.
Table 1
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Fiscal General
Year Government
General Governmental Expenditures and Other Uses by Function
Last ten fiscal years
Local
Service
Roads and
Trails(a)
Health and Debt Operating
Sanitation Education Service Transfers
Total
1977
$ 485,045 $114
$ 88
$ 611,000
$219,365
$ 50,707
$1,568
1978
731,151 2,400
239,423
531,202
210,260
116,200
1,830,636
1979
876,891 -
163,455
824,164
126,991
153,146
2
1980
995,585 -
189,280
1,113,882
84,689
525,603
2,909,039
1981
1,525,087 -
342,696
1,298,585
102,887(b)
519,212
3,788,467
1982
1,694,923 -
785,644
906,447
-
506,125
3,893,139
1983
1,857,316 2,034
446,001
1,386,788
-
4,742,292
8,434,431
1984
1,588 -
709,508
1,478,912
-
1
41
1985
1,677,539 -
547,388
1,608,341
-
1,080,310
4,913,578
1986
1,877,136 -
563,516
1,662,858
-
447,669
4,551,179
(a) Kodiak Island Borough is a second -class borough and does not have road powers. Specific monies are expended
for local service roads and trails in the service districts. Subsequent to fiscal period 1978, these monies
are administered through a separate fund.
(b) The Debt Service Funds are now maintained as separate funds. Some amounts (included in transfers) go to the
Debt Service Funds from the General Fund.
.,
Table 2
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Revenues by Source
Last ten fiscal years
Fines and
Forfeitures
35,238(c)
30,425
51,797
1,111
Miscellaneous
$ 318,675(a)
12,203
120,335
132,968
923,101
892,206(b)
472,281
542,968
454,218
(113,025)
Total
(a) Includes a $262,822 transfer to the Debt Service Funds.
$1,919,446
2,206,045
2,479,982
3,376,359
5,046,892
5,964,088
5,650,496
5,008,954
4,753,889
4,367,705
(b) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(c) Part of miscellaneous until 1981.
(d) Includes a $481,269 loss on investment relating to the Lion Capital Group.
85
Licenses
Charges
Fiscal
and
Intergovernmental
for
Year
Taxes
Permits
Revenue
Service
1977
$1,032,799
$ 7,884
$ 462,651
$ 97,437
1978
1,495,808
6,117
499,659
192,258
1979
1,706,902
24,121
378,736
249,888
1980
2,060,290
7,695
709,253
466,153
1981
2,245,873
24,083
1,706,477
112,120
1982
2,207,330
22,233
2,701,874
110,020
1983
1,876,462
45,444
3,086,448
118,064
1984
1,843,461
34,779
21,
44,194
1985
1,868,049
40,386
2,365,386
25,850
1986
2,065,440
53,786
2,277,655
83,849
Fines and
Forfeitures
35,238(c)
30,425
51,797
1,111
Miscellaneous
$ 318,675(a)
12,203
120,335
132,968
923,101
892,206(b)
472,281
542,968
454,218
(113,025)
Total
(a) Includes a $262,822 transfer to the Debt Service Funds.
$1,919,446
2,206,045
2,479,982
3,376,359
5,046,892
5,964,088
5,650,496
5,008,954
4,753,889
4,367,705
(b) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(c) Part of miscellaneous until 1981.
(d) Includes a $481,269 loss on investment relating to the Lion Capital Group.
85
Table 3
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Property Tax Levies and Collections
Last ten fiscal years
(a) Includes $161,113 due from City of Kodiak.
(b) Includes $984,930 due from City of Kodiak.
(c) Intensive collection procedures were instituted to include foreclosure proceedings, where necessary,
under Alaska Statute, Title 29. A dispute was settled between the Borough and the City and amounts due
were remitted to the respective governments.
:.
Percent of
Percent of
Percent
Delinquent
Total Tax
Outstanding
Delinquent
Fiscal
Total
Current Tax
of Levy
Tax
Total Tax
Collections
Delinquent
Taxes to
Year
Tax Levy
Collections
Collected
Collections
Collections
to Tax Levy
Taxes
Tax Levy
1977
$1,053,871
$ 991,055
94.0
$ 28,672
$1,019,727
96.8
$ 97,346
9.2
1978
1,163
1
96.4
17
1,139,580
98.0
121,095
10.4
1979
1,421,058
1
93.5
51,329
1,379,984
97.1
166,635
11.7
1980
1,915,340
1,764
92.1
48,923
1,813,239
94.7
330,578(a)
17.3
1981
2,257
1,496,037
66.3
41,038
1,537,075
68.1
1,051
46.6
1982(c)
2,118,431
2,095,431
98.9
978,969
3,074,400
145.1
95,124
4.5
1983
1,876,462
1,844,867
98.3
94
1,939,098
103.3
32,488
1.7
1984
1,646,752
1,617,654
98.2
31,487
1,649
100.1
30
1.8
1985
1
1,492,923
99.9
10,733
1,503,656
99.7
19
1.3
1986
2,024,237
1,986,914
98.2
13,504
2,000,418
98.8
43,185
2.1
(a) Includes $161,113 due from City of Kodiak.
(b) Includes $984,930 due from City of Kodiak.
(c) Intensive collection procedures were instituted to include foreclosure proceedings, where necessary,
under Alaska Statute, Title 29. A dispute was settled between the Borough and the City and amounts due
were remitted to the respective governments.
:.
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Assessed and Estimated Actual Value of Taxable Property
Last ten fiscal years
(a) Exempted boat full and true value for $5 and $15 fees.
(b) Reflects exemptions of boats and inventories.
(c) Same as (a) and (b).
Total
Estimate
Assessed Actual
Value Value
$145,763,610
174,701,490
182,722,540
309,925,500
357,662,900
337,072,196
284,114,955
395,620,404
394,608,581
406,612
$145,763,610
174
182,722,540
309,925,500
357,662,900
337,072,196
361,395,705
490,455
492,755,043
480,132,023
(d) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
Table 4
Ratio
of Total
Assessed
to Total
Estimated
Actual
Value
100
100
100
100
100
100
76.1
80.7
80.1
84.7
87
Real
Property
Personal
Property
Estimated
Estimate
Fiscal
Assessed
Actual
Assessed
Actual
Year
Value
Value
Value
Value
1977
$ 82,526,940
$ 82,526,940
$ 63,236,670
$ 63,236,670
1978
118,797,040
118,797
55,904,450
55,904,450
1979
119,063,900
119,063,900
63,658,640
63,658,640
1980
207,066,200
207,066,200
102,859,300
102,859,300
1981
225,394,400
225,394,400
132,268,500
132,268,500
1982
187,598,046
187,598,046
149,474,150
149,474
1983
216,508,832
216,508,832
67,606,123(a)
144,886
1984
307,989,403
307,989,403
87
182,466
1985
325,278,582
325,278,582
69,329,999(c)
167,476,461
1986
354,524,678
354,524,678
52,088,100(d)
125,607,345
(a) Exempted boat full and true value for $5 and $15 fees.
(b) Reflects exemptions of boats and inventories.
(c) Same as (a) and (b).
Total
Estimate
Assessed Actual
Value Value
$145,763,610
174,701,490
182,722,540
309,925,500
357,662,900
337,072,196
284,114,955
395,620,404
394,608,581
406,612
$145,763,610
174
182,722,540
309,925,500
357,662,900
337,072,196
361,395,705
490,455
492,755,043
480,132,023
(d) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
Table 4
Ratio
of Total
Assessed
to Total
Estimated
Actual
Value
100
100
100
100
100
100
76.1
80.7
80.1
84.7
87
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Property Tax Rates - All Overlapping Governments
(Per $100 of Assessed Value)
Last Ten Fiscal Years
Table 5
Total
KIB
City
Debt
Fiscal
General
of
Service
Year
Fund
Kodiak
Funds
1977
7.23
9.10
0.00
1978
7.00
9.10
0.00
1979
7.00
6.00
0.00
1980
6.98
6.00
0.00
1981
6.98
2.00
0.00
1982
7.00
4.00
0.00
1983
7.00
2.00
0.00
1984
3.75
1.25
0.00
1985
3.75
2.00
0.00
1986
3.75
2.00
0.00
Table 5
Total
Road Service Districts
Monashka Service Women's
Bay Dist. 1 Bay
Fire Districts
Service Women's
Dist. 1 Bay
16.33
0.00
0.00
0.00
0.00
0.00
16.10
0.00
0.00
0.00
0.00
0.00
13.00
0.00
0.00
0.00
2.30
0.00
12.98
0.00
0.00
7.20
1.90
0.00
8.98
0.00
1.00
0.00
1.95
0.00
11.00
0.00
0.00
0.00
2.94
0.00
9.00
1.50
0.00
0.50
1.50
0.50
5.00
2.00
0.00
0.50
1.50
0.50
5.75
2.00
0.00
0.50
1.50
0.50
5.75
2.00
0.25
0.10
1.50
0.90
a. The property tax millage for the Kodiak Island Borough has
not in the past years been broken out to indicate the true
millage that would be distributed to the various entities.
-- b.
Contributions
from the Borough to
the School District for
the last ten
years is calculated
to have been as follows:
Fiscal
Assessed
Amount of
Millage
Year
Value
Contribution
Equivalent
1977
$145,763,610
$ 456,180
3.13
1978
174,701,490
457,180
2.62
1979
182,722,540
824,164
4.51
-- 1980
309,925,500
1,023,435
3.30
1981
357,662,900
1,066,927
2.98
1982
337,072,196
676,922
2.01
1983
284,114,955
1,172,544
4.13
- 1984
395,620,404
1,478,912
3.74
1985
394,608,581
1,377,345
3.49
1986
406,612,778
1,524,460
3.75
88
Table 6
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Ten Largest Taxpayers
Year ended June 30, 1986
1986
Assessed
Taxes
% of
Taxpayer
Valuation
Levied
Total
Glacier State Telephone
$10,143,731
$ 42
2.49%
International Seafoods of Alaska
8,780,706
45,945
2.16
Brechan Enterprises, Inc.
5,384,525
24,653
1.32
Alaska Pacific Seafoods
5
25,528
1.26
Western Alaska Fisheries
4,211,221
22,147
1.04
King Crab, Inc.
4,054
23,155
1.00
Queen Fisheries, Inc.
4,044,013
20,867
.99
Peterson, James E.
3,088,569
17,759
.76
Alaska Real Estate Company
2
15,296
.65
Uganik Corporation
2,525,155
14,520
.62
Totals
$49,999,664
1251,918
12.29
Table 7
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Ratio of Net General Bonded Debt
Last ten fiscal years
(a) 1980 population is per U.S. Bureau of Census; others are estimates from the Borough Planning Department based
on the "Housing Unit Method ".
(b) This figure was via a joint Borough /City special census. This figure was accepted and certified by the State
demographer on November 17, 1982 and later accepted by the Federal Bureau of Census.
M
Ratio
of Net
Net
Bonded
Bonded
Gross
Less Debt
Net
Debt to
Debt
Fiscal
Assessed
Bonded
Service
Bonded
Assessed
per
Year
Population
Value
Debt
Fund
Debt
Value
Capita
1977
9,224
$145,763,610
$ 4,295,000
$ 165,000
$ 4,130,000
2.8
448
1978
9,462
174,701
4,130,000
180,000
3,950,000
2.3
417
1979
9,701
182,722,540
3,930,000
195,000
3,735,000
2.0
385
1980(a)
9,939
309,925,500
3,725,000
226,462
3,498,538
1.1
352
1981
10,124
357,662
15,610,000
1,180,818
14,429,182
4.0
1,425
1982(b)
12,714
337,092,196
15,390,000
435,438
14,954,562
4.4
1,176
1983
13,079
284,114
22,275,000
435,438
21,839,562
7.7
1,670
1984
13,389
395,620
30,025,000
6,300,296
23,724,704
6.0
1,772
1985
13,748
394,608,581
25,815,000
7,154,308
18,660,692
4.7
1,357
1986
13,952
406,612,778
30,665,000
7,815,938
22,849,062
5.6
1,638
(a) 1980 population is per U.S. Bureau of Census; others are estimates from the Borough Planning Department based
on the "Housing Unit Method ".
(b) This figure was via a joint Borough /City special census. This figure was accepted and certified by the State
demographer on November 17, 1982 and later accepted by the Federal Bureau of Census.
M
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Computation of Direct and Overlapping Debt
Year ended June 30, 1986
Name of governmental unit
Kodiak Island Borough:
General obligation bonds
City of Kodiak:
General obligation bonds
Revenue bonds
Total
Net Debt
Outstanding
(a)
$22,849,062
2,165,000
3,013,000
$2R_027.062
Percentage
Kodiak
Applicable
Island
to this
Borough's
Governmental
Share of
Unit (b)
Debt
100% $22,849,062
64 1,385,600
64 1,928,320
$26,162
(a) Gross debt outstanding less applicable amounts in the Debt Service Funds.
(b) Determined by ratio of assessed valuation of property subject to taxation in overlapping unit to valuation of
property subject to taxation in reporting unit.
(c) Under Alaska Statutes Title 29, there is no limitation on municipal debt.
91
Table 9
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Computation of Legal Debt Margin
June 30, 1986
Assessed value $ 406,612,778
Plus exempt property 1
Total $ 1 5 460,578 9 495
* The State of Alaska does not mandate a debt limit to its municipalities and
political subdivisions. Debt capacity is ultimately determined by the
marketplace.
92
Table 10
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures
Last ten fiscal years
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case of term bonds.
93
Ratio of
Debt Service
Total
Total
to General
Fiscal
Principal
Interest
Debt
General
Expenditures
Year
(a)
and Fees
Service
Expenditures
(percent)
1977
$ 160,000
$ 260,510
$ 420,510
$1,568,797
26.8
1978
165,000
251,167
416
1,830
22.7
1979
200,000
241
441
2,144,647
20.6
1980
205,000
229,737
434,737
2,909,039
14.9
1981
215,000
218
433
3,788,467
11.4
1982
220,000
1
1,900,912
3,893
48.8
1983
515,000
1,185,806
1
8,434,431
20.2
1984
1,750,000
1,555,900
3,305,900
4,962,232
66.6
1985
4
2,108,539
6,318,539
4,913
128.6
1986
5,080,000
1,727,562
6,807,562
4,551,179
149.6
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case of term bonds.
93
Table 11
Unemployment Rate (c)
8.1%
8.2
8.0
9.7
10.0
12.1
9.7
6.9
9.6
7.7
(a) 1980 per U.S. Bureau of Census; other years per Borough Planning Department.
(b) Kodiak Island Borough School District.
(c) Department of Labor, Anchorage.
(d) This figure was via a joint Borough /City special census.
This figure was accepted and certified by the State
demographer on November 17, 1982 and later accepted by
the Federal Bureau of Census.
94
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Demographic Statistics
Last ten fiscal years
Fiscal Year
Population
School Enrollment (b)
1977
9,224
2,089
1978
9,462
2,093
1979
9,701
2,143
1980(a)
9,939
2
1981
10,124
2,086
1982(b)
12,714
2
1983
13,079
2,189
1984
13,389
2,180
1985
13,748
2,295
1986
13
2,252
Unemployment Rate (c)
8.1%
8.2
8.0
9.7
10.0
12.1
9.7
6.9
9.6
7.7
(a) 1980 per U.S. Bureau of Census; other years per Borough Planning Department.
(b) Kodiak Island Borough School District.
(c) Department of Labor, Anchorage.
(d) This figure was via a joint Borough /City special census.
This figure was accepted and certified by the State
demographer on November 17, 1982 and later accepted by
the Federal Bureau of Census.
94
Table 12
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Salaries and Surety Bonds of Principal Officials
Year ended June 30, 1986
(1) By ordinance in 1984 the Kodiak Island Borough Assembly elected to decrease the amount of bond payments to
self- insure except for the treasurer and cashier. These positions are bonded at $1,000,000 and $50,000,
respectively.
(2) Also covered by elected officials' errors and omission policy of $1,000,000.
95
Amount of
Name of Official
Title
Annual Salary
Surety Bond (1)
Jerome M. Selby
Mayor
$60,000
(2)
See Page 4
Assembly members
1,200
(2)
Contracted
Attorney
-
-
Bryce S. Weeks
Finance Director /Treasurer
54,188
$1,000,000
Earl Smith
Fire Chief, Service Area One
47
-
Perry L. Page
Data Processing Manager
43,390
-
Gaye Vaughan
Borough Clerk
42
-
Linda Freed
Director of Planning and
Community Development
50,319
-
Sylenda Paddock
Cashier
22
50
Bryce Gordon
Chief Building Official
49,092
-
David Crowe
Engineer
56,932
-
Wayne Haerer
Assessor /Appraiser
46,726
-
Pam Delys- Baglien
Director of Mental Health
66
-
Ray Camardella
Facilities Coordinator
54,188
-
(1) By ordinance in 1984 the Kodiak Island Borough Assembly elected to decrease the amount of bond payments to
self- insure except for the treasurer and cashier. These positions are bonded at $1,000,000 and $50,000,
respectively.
(2) Also covered by elected officials' errors and omission policy of $1,000,000.
95
Table 13
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Summary of Debt Service Requirements to Maturity
Year ended June 30, 1986
Annual Principal and Interest Requirements
Gener Obliqation Bo nds
$30,365,000 $13,092,537 $ 300,000 $ 14,626 $43,772,163
* Does not include issues that have been fully defeased. See Table 13h for 1974 issue that was
refunded.
** Includes imputed interest of 8% on Variable Rate Demand Bonds, Series 1984A and 1986A.
Note: This table (and subsidiary Tables 13a through 13g inclusive) indicate debt service by
calendar year; other information in this report relative to debt service is on a fiscal year
(July 1 through June 30) basis.
96
School*
Hospital
Year
Principal
Interest
Principal Interest
Total
1986
$ 2,990,000
$ 1,125,177 **
$ - $ 7,313
$ 4,122,490
1987
3,665,000
1,995,664 **
300,000 7,313
5,967,977
1988
3,865,000
1,785,679 **
- -
5,650,679
1989
3,420,000
1,471 **
- -
4,891,702
1990
1,830,000
1,261,126 **
- -
3,091,126
1991
1,895,000
1,120,682 **
- -
3,015,682
1992
1,960,000
975,503 **
- -
2,935,503
1993
1,680,000
824,642 **
- -
2,504,642
1994
1,735,000
692,962 **
- -
2,427,962
1995
1,795,000
556,000 **
- -
2,351,000
1996
1,360,000
417 **
- -
1
1997
925,000
333,600
- -
1
1998
1
259
- -
1,259
1999
1,080,000
179
- -
1
2000
1
93
- -
1,258,200
$30,365,000 $13,092,537 $ 300,000 $ 14,626 $43,772,163
* Does not include issues that have been fully defeased. See Table 13h for 1974 issue that was
refunded.
** Includes imputed interest of 8% on Variable Rate Demand Bonds, Series 1984A and 1986A.
Note: This table (and subsidiary Tables 13a through 13g inclusive) indicate debt service by
calendar year; other information in this report relative to debt service is on a fiscal year
(July 1 through June 30) basis.
96
Table 13a
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Obligation Hospital Bonds, Series 1967
Retirement Schedule
This issue, dated May 1, 1967, consists of bonds in the amount of $300,000.
These are term bonds, thus, none have been retired. Bonds bear interest at
the rate of 4.875 %.
Bonds are retired after a period of 20 years. Retirement date is May 1, 1987.
Bonds were issued for Kodiak Island Hospital improvement. Bonds are payable
at the Seattle First National Bank, Seattle, Washington.
97
Principal
Interest
Interest
Interest
due
due
due
Year rate
May 1
May 1
Nov. 1
Total
1986 4.875%
$ -
$ -
$7,313
$ 7,313
1987 4.875
300,000
7,313
-
307
$300
$7,313
$7,313
$314,626
97
Table 13b
KODIAK ISLAND BOROUGH
Kodiak, Alaska
_ General Obligation Elementary School Building, Series 1967
Retirement Schedule
This issue, dated January 1, 1967, consists of 150 bonds in the amount of
$5,000 each, totaling $750,000. Bonds numbered 1 through 130 have been
retired. Bonds numbered 131 through 150 bear interest at the rate indicated
below.
Bonds are retired serially in numerical order over a period of 20 years.
Retirement date is September 1 of each year beginning in 1968. Bonds maturing
in 1979 and after are callable beginning in 1979, but according to the escrow
agreement, the call will not be exercised.
Bonds were issued to extend and improve the elementary school system. Legal
opinion was issued by Preston, Thororimson, Horowitz, Starin and Ellis. Bonds
are payable at the Seattle First National Bank, Seattle, Washington.
Bond Principal Interest Interest
Interest Numbers due due due
- Year Rate Inclusive Sept. 1 March 1 Sept. 1 Total
1986 5% 131 -140 $ 50 $ - $2,500 $ 52,500
1987 5 141 -150 50,000 1,250 1,250 52,500
$100,000 $1,250 $3,750 $105,000
A
Table 13c
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Obligation School Refunding Bonds, Series 1974A
Retirement Schedule
This issue dated August 1, 1974, consists of 380 bonds in the amount of $5,000
each, totaling $1,900,000. No bonds have been retired. Bonds numbered 1
through 380 bear interest at the rate indicated below.
Bonds are retired serially in numerical order over a period of 20 years.
Retirement date is August 1 of each year beginning in 1975. Bonds maturing in
1983 and after are callable beginning in 1982, but according to the escrow
agreement, the call privilege will not be exercised.
Bonds were issued to extend and improve the school system. Bonds are payable
at the Central Bank of Denver, Denver, Colorado.
Bond
Interest Coupon Numbers
Year Rate Number I n c l u s i v e
Principal
due
August 1
Interest
due
Feb. 1
Interest
due
August 1
Total
1986
7.25%
23 -24
1 -43
$ 215,000
$ -
$ 68,875
$ 283,875
1987
7.25
25 -26
44 -90
235,000
61,081
61,081
357
1988
7.25
27 -28
91 -140
250,000
52,562
52,563
355,125
1989
7.25
29 -30
141 -194
270,000
43,500
43,500
357
1990
7.25
31 -32
195 -252
290,000
33,712
33,712
357,424
1991
7.25
33 -34
253 -314
310,000
23,200
23,200
356,400
1992
7.25
35 -36
315 -380
330,000
11,963
11,962
3 53 ,9 25
$1 $226,018 $294,893 $2,420,911
99
Table 13d
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Obligation School Extension and Improvement Bonds, Series 1980A
Retirement Schedule
This issue dated August 1, 1980, consists of 2,420 bonds in the amount of
$5,000 each, totaling $12,100,000. Bonds numbered 1 through 263 have been
retired. Bonds numbered 264 through 2420 bear interest at the rate indicated
below.
Bonds are retired serially in numerical order over a period of 20 years.
Retirement date is August 1 of each year beginning in 1982. Bonds maturing in
1991 and after are callable on this date and any interest date thereafter.
Bonds were issued to extend and improve the school system. Bonds are payable
at the Rainier Bank and Trust, Seattle, Washington.
$10,785,000 $3,595,037 $4,027,439 $18,407,476
* Maturities on and after August 1, 1991 are callable at par on this or any interest
date thereafter.
100
Bond
Principal
Interest
Interest
Interest
Numbers
due
due
due
Year
Rate
Inclusive
August 1
Feb. 1
August 1
Total
1986
9.00%
264 -342 $
395,000
$ -
$ 432,402
$ 827,402
1987
9.00
343 -428
430,000
414,626
414,626
1,259,252
1988
9.00
429 -521
465,000
395,277
395,277
1,255,554
1989
9.00
522 -621
500
374,351
374,351
1,248,702
1990
7.30
622 -729
540,000
351,851
351,851
1,243,702
1991*
7.30
730 -846
585,000
332,141
332,141
1,249,282
1992
7.45
847 -973
630,000
310,789
310,789
1,251,578
1993
7.60
974 -1109
680,000
287,321
287,321
1,254,642
1994
7.75
1110 -1258
735
261,481
261,481
1,257,962
1995
8.00
1259 -1577
795,000
233,000
233,000
1,261,000
1996
8.00
1578 -1749
860,000
201
201,200
1
1997
8.00
1750 -1934
925
166
166,800
1,258,600
1998
8.00
1935 -2134
1
129,800
129,800
1,259,600
1999
8.00
2135 -2350
1,080,000
89,800
89,800
1,259,600
2000
8.00
2351 -2420
1,1 6 5 ,000
46,600
46,600
1
$10,785,000 $3,595,037 $4,027,439 $18,407,476
* Maturities on and after August 1, 1991 are callable at par on this or any interest
date thereafter.
100
Table 13e
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Obligation School Improvement Bonds, Series 1983A
Retirement Schedule
This issue, dated June 1983, consisted initially of two bonds* (one bond of
$5,000,000 and one of $2,400,000) totaling $7,400,000. Bonds in the amount of
$3,600,000 have been retired.
Bonds are retired serially in numerical order over a period of 3 years.
Retirement date is quarterly, each as indicated below. Bonds maturing in 1984
and after are callable beginning in 1982, but according to the escrow
agreement, the call privilege will not be exercised.
This issue was marketed by and is indexed weekly by John Nuveen & Co. of
Chicago. Legal opinion was rendered by bond counsel, Wohlforth & Flint of
Anchorage.
Bonds were issued to renovate the Kodiak Junior High School. Bonds are
payable at the Metropolitan branch of the Seattle First National Bank,
Seattle, Washington.
Interest
Maturity Rate **
Principal Interest
Quarterly Quarterly
Total
July 1, 1986 Variable
$1,000,000 $20,000
$1,020,000
* These are demand variable rate bonds. Number of bonds issued and
denominations will vary over the life of the issue. The original buyer
was one firm and two bonds were issued; one for $5,000,000 and one for
$2,400,000 on June 1, 1983.
** Interest is at a variable rate; calculation made at 8% of the unpaid
principal balance.
101
Table 13f
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Obligation School Improvement Bonds, Series 19848
Retirement Schedule
This issue, dated May 1984, consisted initially of nine bonds totaling
$9,500,000. Bonds in the amount of $2,850,000 have been retired.
Bonds are retired serially in numerical order over a period of six years.
Retirement dates quarterly, each as indicated below. Bonds maturing in 1984
and after are callable beginning in 1982, but according to the escrow
agreement, the call privilege will not be exercised.
This issue was marketed by and is indexed weekly by John Nuveen & Co. of
Chicago. Legal opinion was rendered by bond counsel, Wohlforth & Flint of
Anchorage.
Bonds were issued to construct the Kodiak High School auditorium. Bonds are
payable at the Metropolitan branch of the Seattle First National Bank,
Seattle, Washington.
Interest Principal Interest
Maturity Rate* Quarterly Quarterly Total
Jul. 1986
Variable
$ 450,000
$ 133,000
$ 583,000
Oct. 1986
Variable
450,000
124
574,000
Jan. 1987
Variable
450,000
115,000
565,000
Apr. 1987
Variable
500,000
106,000
606,000
Jul .1987
Variable
500,000
96,000
596,000
Oct. 1987
Variable
500,000
86,000
586,000
Jan. 1988
Variable
500,000
76,000
576,000
Apr. 1988
Variable
550,000
65,000
615,000
Jul.1988
Variable
550,000
55,000
605,000
Oct.1988
Variable
550,000
44,000
594,000
Jan.1989
Variable
550,000
33,000
583,000
Apr.1989
Variable
550,000
22,000
572,000
Jul.1989
Variable
550,000
11,000
561,000
$6,650,000 $ 966,000 $7,616,000
* Interest is at a variable rate; calculation made at 8% of the unpaid
principal balance.
** These are demand variable rate bonds. Number of bonds issued and
denominations will vary over the life of the issue. Original buyer was
one firm and nine bonds were issued; one for $1,500,000 and eight for
$1,000,000 each on May 3, 1984.
102
Table 13g
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Obligation School Improvement Bonds, Series 1986
Retirement Schedule
This issue, dated June 4, 1986, consists of 198 bonds in the amount of $50,000 each, and one bond in the
amount of $30,000, totaling $9,930,000. No bonds have been retired. Bonds numbered 1 through 199 bear
interest at the rate indicated below.
Bonds will be retired serially in numerical order over a period of ten years. Retirement dates are
quarterly beginning on September 1, 1986 and quarterly thereafter. For information on early call of these
bonds, please review the ordinance, letter of credit, and prospectus on this issue.
This issue was marketed by and is indexed weekly by John Nuveen & Co. of Chicago. Legal opinion was
rendered by bond counsel, Wohlforth & Flint of Anchorage.
Bonds were issued to renovate and extend various school projects. Bonds are payable at the Metropolitan
branch of the Seattle First National Bank, Seattle, Washington.
Maturity
Interest
Principal
Date
Rate
Amount
Interest
Total
Sept.
86
Variable
$ 180,000
$ 173,775
$ 353,775
Dec.
86
250,000
170,625
420,625
Mar.
87
250,000
166,250
416,250
Jun.
87
250,000
161,875
411,875
Sept.
87
250,000
157,500
407,500
Dec.
87
250,000
153,125
403,125
Mar.
88
It
250,000
170,000
420,000
Jun.
88
250,000
165,000
415,000
Sept.
88
250,000
160,000
410,000
Dec.
88
250,000
155,000
405,000
Mar.
89
250,000
150,000
400,000
Jun.
89
250,000
145,000
395,000
Sept.
89
250,000
140,000
390,000
Dec.
89
250,000
135,000
385,000
Mar.
90
250,000
130,000
380,000
Jun.
90
250,000
125,000
375,000
Sept.
90
250,000
120,000
370,000
Dec.
90
250,000
115,000
365,000
Mar.
91
it
250,000
110,000
360,000
Jun.
91
"
250,000
105,000
355,000
Sept.
91
"
250,000
100,000
350,000
Dec.
91
It
250,000
95,000
345,000
Mar.
92
it
250,000
90,000
340,000
Jun.
92
250,000
85,000
335,000
Sept.
92
"
250,000
80,000
330,000
Dec.
92
250,000
75,000
325,000
Mar.
93
250,000
70,000
320,000
Jun.
93
250,000
65,000
315,000
Sept.
93
"
250,000
60,000
310,000
Dec.
93
"
250,000
55,000
305,000
Mar.
94
250,000
50,000
300,000
Jun.
94
250,000
45,000
295,000
Sept.
94
250,000
40,000
290,000
Dec.
94
250,000
35,000
285,000
Mar.
95
250,000
30,000
280,000
Jun.
95
250,000
25,000
275,000
Sept.
95
250,000
20,000
270,000
Dec.
95
250,000
15,000
265,000
Mar.
96
250,000
10,000
260,000
Jun.
96
250,000
5,000
255,000
TOTALS
$9,930,000
$3,958,150
$13,888,150
*Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
103
Table 13h
KODIAK ISLAND BOROUGH
Kodiak, Alaska
General Obligation Refunding Bonds, Series 1974
Retirement Schedule
This issue, dated April 1, 1974, consists of 800 bonds in the amount of $5.,000
each, totaling $4,000,000. Bonds numbered 1 through 390 have been retired.
Bonds numbered 391 through 800 bear interest at the rate indicated below.
Bonds are retired serially in numerical order over a period of 20 years.
Retirement date is August 1 of each year beginning in 1974. This issue was
refunded by the August 1, 1974 issue and payment funds are in escrow at
Central Bank of Denver. Bonds maturing in 1989 and after are callable
beginning in 1989, and according to the escrow agreement, the call privilege
will be exercised.
Bonds were issued to refund the Borough's outstanding general obligation
bonds. Bonds are payable at the Central Bank of Denver, Denver, Colorado.
$2,050,000 $111,489 $139,858 $2,301,347
* Funds are in Account No. 87 -1248 with the Central Bank of Denver.
Maturities of 1990 through 1992 will be called on August 1, 1989, per
Section 4 of the Escrow Agreement with Central Bank of Denver, Denver,
Colorado, dated October 1, 1974.
MEMO ONLY - Refunded by August 1, 1974 . issue.
104
Bond
Principal
Interest
Interest
Interest
Numbers
due
due
due
- Year
Rate
Inclusive
August 1
Feb. 1
August 1
Total
1986
5.25%
391 -440 $
250,000
$ -
$ 28 $
278
__. 1987
5.40
441 -493
265
25
25,088
315,176
1988
5.50
494 -548
275
21,511
21
318
1989*
5.55
549 -606
290,000
17,729
17
325
1990
5.60
607 -667
305,000
27,160
21
359
1991
5.65
668 -732
325,000
10,311
10,311
345,622
1992
5.70
733 -800
340,000
9,690
9,690
359,380
$2,050,000 $111,489 $139,858 $2,301,347
* Funds are in Account No. 87 -1248 with the Central Bank of Denver.
Maturities of 1990 through 1992 will be called on August 1, 1989, per
Section 4 of the Escrow Agreement with Central Bank of Denver, Denver,
Colorado, dated October 1, 1974.
MEMO ONLY - Refunded by August 1, 1974 . issue.
104
Source:
1. State Bankers' Association
* Estimated actual value
** Information unavailable
105
Table 14
KODIAK
ISLAND BOROUGH
Kodiak, Alaska
Property
Value,
Construction, and
Bank Deposits
Last
Ten Fiscal Years
C 0NSTRUC
T ION
Bank (1)
Commercial
Residential
Deposits
P R O P E
R T Y V A L U
E
Fiscal
No. of
No. of
in
Year
Units Value
Units
Value
(Thousands)
Commercial
Residential
Nontaxable
1977
0
**
0
**
$ 5,403.3 $
40,543,179
$ 55,274,297
$ 2,091,227
1978
5
**
57
**
7,181.9
24
93,442,972
2,201,292
1979
13
**
39
**
11,304.9
66,992,335
109,403,194
2,317
1980
20
**
32
**
12,159.7
77,248,643
103,559,568
51,735,973
1981
40
**
55
**
65,921.9
77,980,241
109,408,625
51,972,410
1982
53
**
71
**
23,371.7
86,107,893
129,872,475
208,695,345
1983
77
**
136
**
33,760.1
107,487,339
199,913,042
245,623
1984
63
**
74
**
31,569.2
104,233,851
220,001,411
739,960,807
1985
62
**
99
**
**
116,411,447
236,302,401
1,053,965,717
1986
54
**
118
**
**
115,574,577
258,311,716
1,127,834,040
Source:
1. State Bankers' Association
* Estimated actual value
** Information unavailable
105
KODIAK ISLAND BOROUGH
Kodiak,
Alaska
Miscellaneous Statistical
Data
Years ended June 30,
1977 through
1986
Date of Incorporation - September 30, 1963,
Second
Class Borough
by Chapter 146 Sessions, Laws of Alaska
1961, as
amended,
Form of Government - Mayor /Assembly.
1977
1978
1979
1980
Area - square miles
4,900
4,900
4,900
4,900
Miles of improved streets
16.48
16.48
16.48
16.48
Miles of sanitary sewers
-
-
_
_
Number of water taps
-
Number of sanitary sewer taps
-
_
_
-
Building permits:
Permits issued
-
62
52
52
Value of buildings (thousands)
-
3,044.2
9,701.9
2,045.8
Fire protection:
Number of fire stations
-
-
-
_
Number of employees
-
-
-
-
Police protection - none
Recreation:
Parks - number of acres
390.5
410.5
740.5
1,500
Facilities:
Number of playgrounds
_
-
-
-
Number of swimming pools
1
1
1
1
Education:
Number of schools:
Elementary
11
11
11
11
Junior high /middle
4
4
4
4
Senior high /middle
6
4
5
6
Vocational technology
1
1
1
1
Number of administrative personnel
119
130
163
181
Number of teachers
129
129
141
150
Number of students
2,236
2,129
2,143
2,149
Number of municipal employees
18
21
21
32
Elections:
Number of registered voters
4,167
4,468
4,778
5,123
Number of voting in last election
1,253
1,197
1,661
1,595
Percent of registered voters
30.1
26.8
34.8
31.1
(A) Prior years include lands designated recreational;
1986 represents actual parks.
106
Table 15
1981
1982
1983
1984
1985
1986
4,900
4
4
4,900
4,900
4,900
16.48
16.48
16.48
16.48
17.29
19.53
-
-
-
3.7
4.2
9.63
-
-
309
309
309
410
-
-
170
170
170
327
95
124
218
137
150
170
2,495.5
4
18
8,416.1
17,858.0
12,196.8
-
-
-
2
2
2
-
-
-
1
1
1
2,230
2,440
3,277
4,099
3,414
220(A)
-
-
4
5
5
14
1
1
1
1
1
1
11
10
10
10
10
10
4
4
4
4
4
4
6
6
6
7
7
7
1
1
1
1
1
1
187
178
179
174
158
159
150
150
152
156
157
154
- 2,086
2,106
2,189
2,180
2,295
2,285
37
39
46
49
46
49
5,198
5,883
5,115
5,200
6,603
6,463
1,613
1,619
1,720
2,079
3,075
2,356
31.0
27.5
33.6
44.0
46.6
36.4
107