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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 ARCTIC OCEAN PT. BARROW 4104 iL V fam ARD DILLINGRAM u .01% AL G F OF Al. ASKA s r, F C CHUKCHI SEA BARROW PRUDHOEftAY of" Uj� HUKCHI gEP y _ _ ' 4 4 JODIM . 1, him. qi KARM. r c I—SO. 6A S 4 `\j?�11 .;�✓2f 0 j �' NOR rON SOUNO KODIAK HAND SMOUGH 10 cp BRISTOL BAY CUI-iAN I SLANDS 400 i7 if XODIAK ISLAND 14 HIKAN BOROUGH NORM PACIFIC OCEAN STATE OF ALASKA ELECTORATE c BOROUGH ASSEMBLY (ELECTED) HOSPITAL ADVISORY BOARD (APFONTEO BY A SSEMBL Y ) I HOSPITAL HOSPITAL STAFF PLANNING AND DONING COMMISSION (APPOINTED BY ASSEMBLY) BOROUGH ATTORNEY BOROUGH CLERK CITIZENS ADVISOR) BOARDSAXI MISSIOR (APPOINTED BY ASSEMBLY) PERSONNEL BOARD ARCHITECTURAL REVIEW FARKS AND RECREATION BOARD OF EOUALIZATION MENTAL HEALTH CENTER ECONOMIC DEVELOPMENI OCS ADVISORY COUNCIL BUILDING CODE BOARD OF APPEALS KITS COMMIJTTEE MAYOR (ELECTED) SERVICE DISTRICT SCHOOL. BOARD ADVISORY BOARDS (ELECTED) (ELECTED) MDNASHKA BAY Rao SUPERINTENENT SERVICE DISTRICT OF SCHOOLS WOMENS BAY ROAD SERVICE /FIRE DISTRICT SERVICE DISTRICT NO. t -ROAD, WATER, SEWER FIRE DISTRICT NO I SCHOOL STAFF - (BAYVIEW) ALTH INSPECT h OR AOMtN!$':ATtON RTOPMENT DEPARTMENT I DEPARTMENT DEPt TMENT DEPARTMENT DEPARTMENT ENTER 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