CAFR FY1987KODIAK ISLAND BOROUGH
Kodiak, Alaska
Comprehensive Annual Financial Report
' For Year Ended
June 30, 1987
Prepared by:
Department of Finance
Bryce S. Weeks
Finance Director
KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
INTRODUCTORY SECTION
PAGE
BOROUGH OFFICIALS i
BOARDS AND COMMITTEES
MAP OF KODIAK ISLAND BOROUGH
ORGANIZATIONAL CHART iv
LETTER OF TRANSMITTAL v
FINANCIAL SECTION
EXHIBIT
REPORT OF CERTIFIED PUBLIC ACCOUN 1
COMBINED FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types and Account Groups A 3
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types B 7
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual - General
Fund, Special Revenue Funds and Debt Service Funds C 9
Statement of Revenues, Expenses and Changes in Retained
Earnings - Proprietary Fund Type - Enterprise Funds D 11
Statement of Changes in Financial Position -
Proprietary Fund Type - Enterprise Funds E 12
Notes to Combined Financial Statements 13
SCHEDULE
COMBINING, INDIVIDUAL FUND AND ACCOUNT GROUP
FINANCIAL STATEMENTS
GENERAL FUND:
Balance Sheet 1 30
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balance - Budget and Actual 2 31
Statement of Expenditures and Transfers -
Budget and Actual 3 34
I
KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
(Continued)
II
SCHEDULE
PAGE
SPECIAL REVENUE FUNDS:
Combining Balance Sheet
4
49
Combining Statement of Revenues, Expenditures,
Transfers and Changes in Fund Balances (Deficits)
5
51
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual:
Land Sales
6
53
Fire and Road Service Districts:
Fire:
Area 1
7
54
Women's Bay
8
55
Road:
Monashka Bay
9
56
District 1
10
57
Women's Bay
11
58
Bay View Road Service District
12
59
Federal and State Grant Programs:
Federal Revenue Sharing
13
60
Mental Health Center
14
61
Energy
15
63
Day Care
16
64
Education
17
65
Building and Grounds
18
67
DEBT SERVICE FUNDS:
Combining Balance Sheet
19
68
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance
20
69
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual:
Hospital
21
71
School Bonds
22
72
Other Debt Service
23
73
CAPITAL PROJECTS FUNDS:
Combining Balance Sheet
24
74
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
25
76
Schedule of Capital Projects
26
78
II
KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
(Continued)
III
SCHEDULE
PAGE
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS:
Combining Balance Sheet
27
80
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings
28
82
Combining Statement of Changes in Financial Position
29
84
Water and Sewer:
Balance Sheet
30
88
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
31
90
Statement of Changes in Financial Position
32
92
Hospital:
Balance Sheet
33
93
Statement of Revenues, Expenses and
Changes in Fund Equity
34
94
Statement of Changes in Financial Position
35
95
TRUST AND AGENCY FUNDS:
Combining Statement of Changes in Assets,
Liabilities and Fund Balances
36
96
GENERAL FIXED ASSETS ACCOUNT GROUP:
Statement of General Fixed Assets by Source
37
97
Statement of General Fixed Assets by Function and Activity
38
98
Statement of Changes in General Fixed Assets by
Function and Activity
39
100
GENERAL LONG -TERM DEBT ACCOUNT GROUP:
Statement of General Long -Term Debt
40
101
III
KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
(Continued)
IV
Ill
PAGE
STATISTICAL SECTION
TABLE
Statistical Tables:
General Governmental Expenditures and Other Uses
by Function - Last Ten Fiscal Years
1
103
General Revenues by Source - Last Ten Fiscal Years
2
104
Property Tax Levies and Collections -
Last Ten Fiscal Years
3
105
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
4
106
Property Tax Rates - All Overlapping Governments -
Last Ten Fiscal Years
5
107
Ten Largest Taxpayers
6
108
Ratio of Net General Bonded Debt - Last Ten Fiscal Years
7
109
Computation of Direct and Overlapping Debt
8
110
Computation of Legal Debt Margin
9
111
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Expenditures - Last Ten Fiscal Years
10
112
Demographic Statistics - Last Ten Fiscal Years
11
113
Salaries and Surety Bonds of Principal Officials
12
114
Summary of Debt Service Requirements to Maturity
13
115
General Obligation Bonds Outstanding:
Elementary School Building, Series 1967
13a
116
School Refunding Bonds, Series 1974B
13b
117
School Improvements, Series 1980A
13c
118
School Improvements, Series 1984B
13d
119
School Improvements, Series 1986
13e
120
School Refunding Bonds, Series 1974
Of
121
Property Value, Construction and Bank Deposits -
Last Ten Fiscal Years
14
122
Miscellaneous Statistical Data
15
123
IV
Ill
BOROUGH OFFICIALS
Kodiak Island Borough
Year Ended June 30, 1987
BOROUGH ASSEMBLY
Eric Blankenburg '87 Ken Gregg '88
Jack L. McFarland '87 Ann Barker '89
Lorne "Lonnie" White '87 (Chairman) Wayne Stevens '89
Alan Austerman '88
BOROUGH MAYOR
Jerome M. Selby '87
Charles E. "Bud" Cassidy . ............................••. Resource Management Officer
David C. Crowe ...................... ............................... Borough Engineer
Pamela Delys- Baglien .......... ............................... Mental Health Director
Mickey Duros ..................•.••.. ..•.........................••• Purchasing Agent
Linda L. Freed ..................... .........................•••••• Planning Director
James Gingerich ............... ............................... Hospital Administrator
Wayne D. Haerer ................... ............................... Assessor /Appraiser
Jamin, Ebell, Bolger, Gentry ..................... (Contracted Firm) Borough Attorney
Robert McFarland .............. ............................... Facilities Coordinator
Perry L. Page ................ ............................... Data Processing Manager
Jerome M. Selby .................... .........................•••••• Personnel Officer
Earl A. Smith ............................................................ Fire Chief
Noreen Thompson ...... ............................... Superintendent, School District
Gaye Vaughan ........................... ............................... Borough Clerk
Bryce S. Weeks ............ ............................... Finance Director /Treasurer
i
KODIAK ISLAND BOROUGH
Kodiak, Alaska
Boards and Committees
Year ended June 30, 1987
Hospital Advisory Board (7)
Ben Ardinger
*Wilton White
William C. Hogan
Gretchen Saupe
Betty Springhill
Dr. Kevin Creelman
Ann Barker
Mental Health Center Advisory Board (9
*Jane Nuttall
Maureen H. Eberhardt
Wayne Stevens
Josefina Barber
Barbara Popken
Frances Cater
Margaret Lackman
Guy Powell
Ann Farnsworth
Monashka Bay Road Service District
Advisory Board (5
Roxy Bringgold
*Bill Swearingin
Vacant
Dan Ogg
Ilva Fox
Fire Protection Area #1
Advisory Board (5
*Scott Arndt
Bill Swearingin
Horace Simmons
Barbara Swearingin
Sid Cozart
Kodiak Sanitary Landfill Committee (8)
Lt. Cmdr. Lance Bryson
Norman Wooten
David Crowe
*Phil Anderson
Jim Ramaglia
Herman Beukers
Fred Patterson
Eric Blankenburg
ii -1
Personnel Advisory Board (5
Mary McFarland
*Marlys Buzby
Walter Sapp
Carol Smothers
Pat Szabo
Citizen Board of Equalization (5
Rick Brush
*Jack Mann
Joan Hughes
Norman Sutliff
Kyle Taylor
Jim Ashford, Alternate
Parks and Recreation
Committee (12
*Jim Cobis
Lisette Alvarez
Maureen Butler
Lisa T. Dunn
Robin Parker
Patrick Vaughan
Alan Austerman
Mary Lou Knudsen
Ian Fulp
Ed Apperson
Judy Fulp
Susan Jeffrey
Planning and Zoning Commission (7)
Michael W. Anderson
Robin Heinrichs
Tom Hendel
D.L. Smedley
Mary Lou Knudsen
*Steve Rennell
Scott Thompson
1;
I i
Data Processing Steering
Committee (5
Perry Page
*Jerome M. Selby
John Witteveen
Joyce Healy
Ann Hutcheson
'
Service District No. 1
Advisory Board (7
Earl Smith
Patricia Szabo
'
Okey Chandler
Jim Fisk
*Scott Arndt
'
i
Tony Perez
Ed Van Fleet
Kodiak Island Transportation Study
' Steering Committee (KITS) (5
John Pugh
Alan Austerman
Al Cratty
Jerome Selby
Sam Gesko, Jr.
Building Code Board of Ap _pea (7 )
Robin Heinrichs
Joann Hall
Arthur Bors
*Reed Oswalt
Cliff Ford
Robert Hull
Roger Lackman
S 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 Distri
Advisory Board (7)
William G. Williams
Ed Gondek
James Cobis
Richard C. Perkins
*Wayne Berry
Robert Tarrant
John Burt
Architectural Review Board (11)
Bill Beaty
Arthur Bors
*Wayne Coleman
Cliff Ford
Robin Heinrichs
Joann Hall
Suzanne Hancock
Eric Blankenburg
John Witteveen
Jerome Selby
Reed E. Oswalt
F+
F+
F+
STATE OF ALASKA
ELECTORATE
HOSPITAL
ADVISORY BOARD
(APPOINTED BY ASSEMIOM
HOSPITAL
ADMINISTRATOR
W
C
HOSPITAL STAFF
F I N
BOROUGH
ATTORNEY
CITIZENS ADVISOR)
(APPOWTED BY ASSEMBLY)
PERSONNEL BOARD
ARCHITECTURAL REVIEW
PARKS AND RIMATIDM
BOARD OF EDUALRATION
MENTAL HEALTH CENTER
ECONOMIC DEVELOPMENT
OCS ADVISOIW COUNCIL
&ELDING CODE BOARD
OF APPEALS
KITS COMMITTEE
MAYOR
(ELECTED)
SERVICE DISTRICT
ADVISORY BOARDS
(ELECTED)
MDNASHKA BAY ROAD
SERVICE DISTRICT
WOMENS BAY ROAD
SERVICE /FIRE DISTRICT
SERVICE DISTRICT NMI
-ROAD, WATER, SEWER
FIRE DISTRICT NO, I
-(BAYVIEW)
SCHOOL. BOARD
(ELECTED)
SUPERINTENDENT
OF SCHOOLS
SCHOOL STAFF
BUILDING GENERAL COMMUNITY FACILITIES ENGINEERING FINANCE DATA ASSESSING MENTAL CENTER
DEVELOPMENT COORDINATOR SERVICES HEALTH
INSPECTOR ADMNNISTRATION DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT
BOROUGH ASSEMBLY
{ELECTED)
a j
Q o _
a
a
s
November 18,987
To the Honorable Borough Mayor
and Borough Assembly
Kodiak Island Borough
Kodiak, Alaska
710 MILL BAY ROAD
KODIAK, ALASKA 99615 -6340
PHONE (907) 486 -5736
The Annual Financial Report of the Kodiak Island Borough (Borough),
Kodiak, Alaska for the fiscal year ended June 30, 1987 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 Governmental Accounting
j Standards Board (GASB).
' The Government Finance Officers Association of the United States and Canada
(GFOA) awards a Certificate of Achievement for Excellence 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.
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 $4,992,032 and operating transfers
were $57,090. This was an increase of $699,900 over 1986. General pro-
perty taxes produced 43.8% of general revenues compared with 47.3% in
' 1986. The amount of revenues from various sources and the increase or
decrease over last year are shown in the following tabulation:
Kodiak IslandBorough
I v
I �
I �
Revenue source and other Amount
financing sources (thousands
Property taxes $2,188.7
Licenses and permits 138.1
Intergovernmental revenue 2,114.4
Charges for services 101.9
Miscellaneous 448.9
Operating transfers 57.1
$5,049.1
Increase (decrease)
Percent over 1986
of total (thousands)
43.35%
$ 123.3
2.73
90.6
41.88
(163.3)
2.02
18.1
8.89
555.6
1.13
3.4
100.00
$ 627.7
Assessed property valuation of $404.8 million represented a decrease of
.04% over the preceding year. The assessed value at January 1, 1987
relating to the fiscal year 1988 is $425.9 million, an increase over the
prior year of 5.21 %.
As part of the statistical section of this report, there is reported the
tax collection experience for the immediate past ten years. It should be
noted that the rate of delinquency remains extremely low.
Expenditures and transfers for general governmental purposes totaled
$5,123,941, an increase of 12.6% over 1986. Changes in levels of expen-
ditures for major General Fund functions of the Borough over the preceding
year are shown in the following tabulation:
Increase (decrease)
Func tion
General government
Public safety
Public works
Health and sanitation
Education
Conservation and
development
Operating transfers
Amount
Percent
over 1986
(thousands
of total
(thousands)
$1,476.5
28.8%
$ 90.6
86.3
1.7
9.5
184.2
3.6
28.7
499.9
9.7
(3.6)
154.3
3.0
(238.6)
342.5 6.7
2,380.2 46.5
83.4
602.7
$5,123.9 100.0 $ 572.7
The fund balance of the General Fund continues to undergo a critical
periodic review. Planned drawdowns have been budgeted and executed by tax
reduction and transfers to other funds to keep the fund balance adequate
and reasonable. As a result of these actions, the following table
reflects fund balance at the close of the fiscal years ended June 30:
V-1
1981
$3,293,670
1982
5,478,183
1983
2,684,707
1984
2,742,239
1985
2,661,914
1986
2,532,100
1987
2,475,747
CAPITAL IMPROVEMENTS FUND
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.
A listing of all capital improvement projects, at various stages of
completion, are delineated in Schedule 26.
The revenues to support the capital 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 these capital projects were
fully funded by the State.
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. No
additional sales are planned for fiscal 1988.
DATA SERVICES
In September 1983, an IBM System /38 was purchased and installed by the
Kodiak Island Borough to replace its then existing IBM System /34. The
existing IBM /38 configuration is:
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)
v -2
I �
I
Several IBM PCs were purchased and are used in a dual purpose, as a stan-
dalone computer and as a terminal connected to the IBM System /38.
A UPS (uninterruptable power supply) was purchased and installed to pro-
vide 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.
Data services equally serve the Borough departments and the Kodiak Island
Borough School District.
Existing application:
Borough
Payroll
Utility Billing System
Financial Accounting System
Property Tax
Land Sale
Labels - Letters
Text Management
Future Applications:
Borough
Data Processing Job
New Fixed Assets System
Assessor's Appraisal System
School District
Maintenance System
Financial System
Payroll System
Fixed Assets
Inventory
School Reporting 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 facil-
itated by the use of the computer programs. Currently, all fixed asset
records are maintained on an IBM PC and hopefully will become part of the
integrated system in the near future.
DEBT SERVICE FUND
This fund was established to finance and account for the payment of prin-
cipal 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 -3
' 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.
' CASH MANAGEMENT AND INVESTMENTS
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."
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 deter-
mined by a vote of the electorate and ultimately by the marketplace when
i bonds
obligation b
is attempted to be laced. The Borough's general g
debt p p
are rated as follows:
Moody's Standard
Investors Service and Poors
I
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+
t 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 and are now
in excess of a million dollars annually.
' 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.
' CASH MANAGEMENT AND INVESTMENTS
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."
v -4
7
The Borough investment policy is far more restrictive than many govern-
ments. 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.
Cash management is a strong point of your current treasurer. Monies,
naturally, cannot be invested until received and deposited. 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 deposited
daily and intact 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.
INVESTMENT EARNINGS
The amount of idle public funds available for investment during the year
ranged from a low of approximately $23 million to slightly over $26
million. Interest yields realized on the investments we had placed ranged
from a low of 4.75% for overnights (repurchase agreements) to a high of
7.7%. We closed out the year with investment earnings of $1,885,000.
INDEPENDENT AUDIT
The Borough Code requires an annual audit to be made of the books of
account, financial records, and transactions of all administrative depart-
ments of the Borough by a certified public accountant selected by the
Borough Assembly. This requirement has been complied with and the audi-
tor's opinion has been included in this report.
RETIREMENT FUNDS
The State of Alaska has during the past year, developed a plan entitled
the Retirement Incentive Program (RIP). The plan has certain amenities
for early retirement dependent upon employee's age, years of service, etc.
Some teachers and other employees have opted for early retirement. The
objective of the state plan is to cut payroll costs at state and political
sub - division levels and replace those retired with a person in an entrance
level salary and, in some cases, abolish the position. There is a minimal
cost to buy into the program which should be recovered in a year to a year
and a half. The Assembly and School Board elected to cover their eligible
employees in this program and funds have been provided for this purpose.
J
v- 5 '
� I
' Unfunded pension liabilities represent one of the most significant finan-
cial problems that face many cities and counties of America today. Your
Borough staff, being acutely aware of this, has initiated legislation that
t has been adopted by the Assembly to preclude this from being a problem
that we will face in the future. The actuarial value of PERS past service
costs of the Borough have been previously paid and the current contribu-
tion rate includes a negative component for past service costs (which
' reduces the current contribution rate). The School District anticipates
paying the actuarially computed value of their PERS past service costs and
has budgeted for the expenditure during the year ended June 30, 1988.
PROSPECTS FOR FISCAL YEAR 1988
t The Assembly of the Kodiak Island Borough has again adopted a balanced
budget for fiscal year 1988. 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
I ' 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 addi-
tional monies from those who pay promptly. At fiscal year end,
uncollected taxes of all prior years were only some $49,000 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 nearly $2 million for design and construc-
tion of a new hospital. Revenue bonds may be necessary to meet the addi-
tional funding requirements for this project. Ideally, the necessary
funds will come through another capital grant from the State or a com-
bination of grant and revenue bond proceeds.
The economy of Kodiak remains very healthy. We are in another good
fishing season and, while not as strong as a few years ago, preliminary
reports tend to suggest this will be another banner year.
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 finan-
cial operations of the Borough in a responsible and progressive manner.
Respectfully submitted,
' Bryce S. Weeks
Director of Finance
v -6
EM Ernst &Whinny Suite 601
301 W. Northern Lights Boulevard
Anchorage, Alaska 99503
Office: 907/279 -1411
Direct dial:
The Honorable Mayor and Borough Assembly
Kodiak Island Borough
We have examined the combined financial statements of the Kodiak Island
' Borough (Borough) at June 30, 1987 and for the year then ended (Exhibits A
through E), as listed in the table of contents. Our examination was made
in accordance with generally accepted auditing standards and, accordingly,
included such tests of the accounting records and such other auditing pro-
cedures 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 state -
' ments of the Kodiak Island Borough Hospital show assets and revenues that
comprise 35% and 89%, respectively, of the Proprietary Fund Type
Enterprise Funds. The financial statements other than the general fixed
asset account group of the Kodiak Island Borough for the year ended June
' 30, 1986 were examined by other auditors whose opinion dated September 26,
1986 expressed an unqualified opinion on the examined statements prior to
restatement.
In our opinion, based on our examination and the report of the other inde-
pendent auditors, the combined financial statements referred to above
' present fairly the financial position of the Kodiak Island Borough at June
30, 1987 and the results of its operations, and the changes in financial
position of its proprietary fund types for the year then ended, in confor-
mity with generally accepted accounting principles applied on a basis con-
; sistent with that of the preceding year.
i
We also reviewed the adjustments described in Note 7 that were applied to
' restate the general fixed asset account group at June 30, 1986. In our
opinion, such adjustments are appropriate and have been properly applied
to the 1986 general fixed asset account group.
1
,I
I I Ernst & Whinney
I Our examination was made for the purpose of forming an opinion on the com7-
bined financial statements taken as a whole. The combining, individual
I I fund and account group financial statements (Schedules 1 through 40), 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 40
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.
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.
4 1t-� V(-
Anchorage, Alaska
November 18, 1987
I I
I I
I I
2
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1987
See accompanying notes.
3
Governmental
Fund Types
Special
Debt
Capital
ASSETS
General
Revenue
Service
Projects
Current assets:
Equity in central treasury
$ -
$2,159,067
$ 144,215
$ 3,304,191
Temporary investments
4,502,444
2,068,379
6,221,603
9,784,936
Other cash balances
1,700
35,220
1,462,905
-
Investment in deferred
compensation plan
-
-
-
-
Receivables:
State of Alaska
988,582
488,698
244,517
413,882
Federal government
-
-
-
-
Property taxes, net of
allowance for uncollec-
tibles of $11,200 in
1987 and $14,974 in 1986
2,028,235
-
-
-
Land sales contracts,
due within one year
-
297,696
-
-
Other
101,732
215,556
95,236
632,751
Due from other funds
-
-
-
52,023
Inventories
-
225,172
-
-
Prepaids
66,142
330,913
-
-
Restricted assets:
Equity in central treasury
-
-
Temporary investments
-
Accrued interest receivable
-
-
Land sales contracts receiv-
able, due after one year
-
2,090,860
-
-
Receivable from State
of Alaska
-
-
-
-
Long -term receivable from
Lutheran Hospitals and
Homes Society of America
-
-
-
-
Borough designated investment
-
-
-
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
$7,688,835
$7,911,561
$8,168,476
$14,187,783
See accompanying notes.
3
EXHIBIT A
Proprietary Fiduciary
Fund Type Fund Type
Agency
Enterprise Funds
Account Groups
General General Long -
Fixed Assets Term Debt
Totals
(Memorandum Only)
1987 1986
$ 160,839 $ - $ - $ - $ 5,768,312 $ 5,508,347
- 22,577,362 24,546,854
- 104,984 - - 1,604,809 2,594,379
- 356,886 - - 356,886 238,093
_ _ - - 2,135,679 1,452,843
- 344,845
2,028,235 1,769,983
_ - -
- 297,696
251,261
1,585,051 2,361 -
- 2,632,687
2,741,313
_ _ -
- 52,023
78,440
146,244 - -
- 371,416
358,990
- - -
- 397,055
42,135
119,057 - -
- 119,057
-
750,000 - -
- 750,000
3,850,000
- - -
- -
7,042
- - - - 2,090,860 2,112,705
220,000 - - - 220,000 -
1,118,000 - - - 1,118,000 820,000
760,134 - - - 760,134 -
15,922,764 -
(2,459,917) -
3,328,506 -
$21,650,678 $464,231
65,873,430
681,445
7,423,507
19,010,291
$26,433,798
7,423,507
7,905,436
19,010,291
23,263,443
81,796,194
75,592,577
(2,459,917)
(2,029,581)
4,009,951
2,351,338
$153,060,237
$153,800,443
4
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
(Continued)
June 30, 1987
LIABILITIES AND
FUND EQUITIES
Liabilities:
Bank overdraft
Advance from central treasury
Accounts payable
Retainage payable
Salaries payable
Payroll taxes and employee benefits
Other accrued liabilities
Customer deposits
Deferred and unrealized revenues
Deferred compensation
Due to other funds
Due to student organizations
Payable from restricted assets:
Advance from central treasury
Contracts payable
Retainage payable
Unearned grant receipts
Accrued annual leave
General obligation bonds payable
Environmental Protection
Agency loan
Total liabilities
Fund equities:
Contribution in aid of construction
Investment in general fixed assets
Retained earnings
Fund balance:
Reserved:
Encumbrances
Fuel inventory
Unreserved:
Designated:
Working capital
Subsequent year expenditures
Undesignated
Total fund equities
5,213,088 4,593,606 744,969 2,780,179
40,376 177,377 - 2,904,397
- 72,166 - -
1,250,000 - - -
1,185,371 327,203 7,423,507 8,503,207
- 2,741,209 - -
2,475,747 3,317,955 7 ,423,507 11,407,604
$7,688,835 $7,911,561 $8,168,476 $14,187,783
See accompanying notes.
5
Governmental Fund Types
Special Debt
Capital
General
Revenue Service
Projects
3,157,151
549,331 744,969
616,280
27,440
128,930 -
468,721
-
- -
297,445
-
779,072 -
-
36,982
615,550 -
-
1,315
- -
-
-
300 -
-
1,990,200
2,468,619 -
1,397,733
-
51,804 -
-
5,213,088 4,593,606 744,969 2,780,179
40,376 177,377 - 2,904,397
- 72,166 - -
1,250,000 - - -
1,185,371 327,203 7,423,507 8,503,207
- 2,741,209 - -
2,475,747 3,317,955 7 ,423,507 11,407,604
$7,688,835 $7,911,561 $8,168,476 $14,187,783
See accompanying notes.
5
EXHIBIT A
(Continued)
Proprietary
Fiduciary
Totals
Fund Type
Fund Type
Account
Groups
(Memorandum Only)
Agency
General
General Long -
Enterprise
Funds
Fixed Assets
Term Debt
1987
1986
$ 9,710
$ -
$ -
$ -
$ 9,710
$ 83,404
2,601
-
-
-
5,070,332
3,103,723
54,994
6,005
-
-
686,090
1,021,473
-
-
-
-
297,445
379,331
191,523
-
-
-
970,595
992,618
-
-
-
-
652,532
506,883
25,775
-
-
-
27,090
168,327
10,506
-
-
-
10,806
7,020
-
-
-
-
5,856,552
6,124,746
-
356,886
-
-
356,886
238,093
-
219
-
-
52,023
78,440
-
101,121
-
-
101,121
74,183
-
-
-
-
-
1,697,440
364,472
-
-
-
364,472
128,157
146,449
-
-
-
146,449
149,110
3,364
-
-
-
3,364
1,405,859
-
-
-
144,215
144,215
128,879
-
-
-
25,925,000
25,925,000
30,665,000
-
-
-
364,583
364,583
375,000
809,394
464,231
-
26,433,798
41,039,265
47,327,686
16,845,592
-
-
-
16,845,592
14,859,855
-
-
66,554,875
-
66,554,875
60,952,813
3,995,692
-
-
-
3,995,692
3,583,570
-
-
-
-
3,122,150
4,513,764
-
-
-
-
72,166
62,098
-
-
-
-
1,250,000
900,000
-
-
-
-
17,439,288
17,981,732
-
-
-
-
2,741,209
3,618,925
20,841,284
-
66,554,875
-
112,020,972
106,472,757
$21,650,678
$464,231
$66,554,875
$26,433,798
$153,060,237
$153,800,443
0
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - GOVERNMENTAL FUND TYPES
Year ended June 30, 1987
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
Economic development
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 balance at beginning of year
Adjustment to reserve for fuel inventory
Residual equity transfer
Fund balances at end of year
Special Debt
General Revenue Service
$ 2,188,750 $ 195,903 $ -
2,111,165 18,254,548 -
3,118 621,078 -
- 493,230 -
138,151 657,087 -
550,848 475,636 430,891
4,992,032 20,697,482 430,891
46,584
-
-
122,886
-
-
154,011
-
-
204,855
-
-
62,876
-
-
160,839
-
-
218,570
9,579
-
134,126
-
-
499,930
1,291,262
-
277,410
-
-
53,324
-
-
442,421
807,018
-
64,629
-
-
21,656
-
-
4,613
-
-
50,071
-
-
154,330
15,161,996
-
70,637
-
-
-
45,832
-
-
96,425
-
-
-
6,537,801
2,743,768
17,412,112
6,537,801
2,248,264
3,285,370
(6,106,910
57,090
2,243,662
5,638,299
(2,380,173
(6,543,770
(13,318
(2,323,083
(4,300,108
5,624,981
(74,819) (1,014,738) (481,929)
2,532,100 4,322,625 7,905,436
- 10,068 -
18,466 - -
$ 2,475,747 L3,317,955 $ 7,423,507
See accompanying notes.
7
I I
EXHIBIT B
8,491,091 34,611,496 34,186,356
-
Totals
47,386
-
(Memorandum Only)
Capital
-
154,011
Projects
1987
1986
$ -
$ 2,384,653 $
2,227,944
6,419,199
26,784,912
27,841,331
311,639
935,835
1,043,159
-
493,230
535,223
1,007,293
1,802,531
957,058
752,960
2,210,335
1,581,641
8,491,091 34,611,496 34,186,356
-
46,584
47,386
-
122,886
133,634
-
154,011
152,970
-
204,855
199,094
-
62,876
100,411
-
160,839
195,493
-
228,149
264,248
-
134,126
72,627
-
1,791,192
1,776,733
-
277,410
265,957
-
53,324
53,286
-
1,249,439
760,120
-
64,629
73,119
-
21,656
3,678
-
4,613
2,447
-
50,071
82,872
-
15,316,326
16,424,298
-
70,637
-
10,376,589
10,422,421
9,049,645
-
96,425
135,062
-
6,537,801
6,807,562
10,376,589
37,070,270
36,600,642
(1,885,498
(2,458,774
(2,414,286
-
-
9,668,184
-
-
375,000
1,411,109
9,350,160
10,059,930
(415,899
(9,353,160
(10,059,930
995,210
(3,000
10,043,184
(890,288)
(2,461,774)
7,628,898
12,316,358
27,076,519
19,457,523
-
10,068
(9,902)
(18,466
-
-
$11,407,604
$24,624,813
$ 27,076,519
8
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, 1987
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
Economic development
Capital outlay:
Capital improvements
Debt service:
Principal
Interest
Fiscal agent fees
Other
Total expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating transfers from other funds
Operating transfers to other funds
Net other financing sources (uses)
Excess (deficiency) of revenues and
other financing sources over expen-
ditures and other financing uses
Fund balance at beginning of year
Adjustment to reserve for
fuel inventory
Risidual equity transfer
Fund balances at end of year
U�l
General Fund
Special Revenue Funds
Variance
Favorable
Budget
Actual
( Unfavorable )
Budget
Actual
$ 2,181,410
$ 2,188,750
$ 7,340
$ 175,705
$ 195,903
1,904,940
2,111,165
206,225
18,749,210
18,254,548
2,310
3,118
808
899,670
621,078
-
-
-
450,900
493,230
86,550
138,151
51,601
692,593
657,087
325,050
550,848
225,798
445,780
475,636
4,500,260
4,992,032
491,772
21,413,858
20,697,482
46,350
46,584
(234)
-
-
128,240
122,886
5,354
-
-
158,930
154,011
4,919
-
-
208,470
204,855
3,615
-
-
130,500
62,876
67,624
-
-
195,100
160,839
34,261
-
-
224,070
218,570
5,500
1,410,910
9,579
134,510
134,126
384
-
-
556,380
499,930
56,450
1,332,726
1,291,262
284,220
277,410
6,810
-
-
52,300
53,324
(1,024)
-
-
426,370
442,421
(16,051)
926,880
807,018
90,830
64,629
26,201
-
-
35,000
21,656
13,344
-
-
9,780
4,613
5,167
-
-
49,620
50,071
(451)
-
-
154,500
154,330
170
15,613,990
15,161,996
69,700
70,637
(937)
-
-
-
-
-
278,830
142,257
2,954,870
211,102
19,563,336
17,412,112
2,743,768
1,545,390
2,248,264
702,874
1,850,522
3,285,370
296,050
57,090
(238,960)
2,286,934
2,243,662
(2,373,120
(2,380,173
(7,053
(7,121,694
(6,543,770
(2,077,070)
(2,323,083)
(246,013)
(4,834,760)
(4,300,108)
(531,680)
(74,819)
456,861
(2,984,238)
(1,014,738)
2,532,100
2,532,100
-
4,322,625
4,322,625
-
-
-
10,068
10,068
-
18,466
18,466
-
-
$ 2,000,420
$ 2,475,747
$ 475,327
$ 1,348,455
$ 3,317,955
See accompanying
notes.
9
U�l
EXHIBIT C
Variance
Favorable
( Unfavorable )
$ 20,198
(494,662)
(278,592)
42,330
(35,506)
29,856
(716,376
1,401,331
41,464
119,862
451,994
136,573
2,151,224
1,434,848
(43,272)
577,924
534,652
1,969,500
$1,969,500
Debt
Service Funds
Totals
(Memorandum Only)
(8,937,261
567,233
Variance
(998,210)
560,400
Variance
(1,571,486)
3,981,532
Favorable
14,760,161
-
Favorable
Budget
Actual
( Unfavorable )
Budget
Actual
( Unfavorable )
$ - $
-
$ -
$ 2,357,115
$ 2,384,653
$ 27,538
-
-
-
20,654,150
20,365,713
(288,437)
-
-
-
901,980
624,196
(277,784)
-
-
-
450,900
493,230
42,330
-
-
-
779,143
795,238
16,095
417,500
430,891
13,391
1,188,330
1,457,375
269,045
417,500
430,891
13,391
26,331,618
26,120,405
(211,213
-
-
-
46,350
46,584
(234)
-
-
-
128,240
122,886
5,354
-
-
-
158,930
154,011
4,919
-
-
-
208,470
204,855
3,615
-
-
-
130,500
62,876
67,624
-
-
-
195,100
160,839
34,261
-
-
-
1,634,980
228,149
1,406,831
-
-
-
134,510
134,126
384
-
-
-
1,889,106
1,791,192
97,914
-
-
-
284,220
277,410
6,810
-
-
-
52,300
53,324
(1,024)
-
-
-
1,353,250
1,249,439
103,811
-
-
-
90,830
64,629
26,201
-
-
-
35,000
21,656
13,344
-
-
-
9,780
4,613
5,167
-
-
-
49,620
50,071
(451)
-
-
-
15,768,490
15,316,326
452,164
-
-
-
69,700
70,637
(937)
-
-
-
278,830
142,257
136,573
5,301,720
4,750,417
551,303
5,301,720
4,750,417
551,303
2,376,530
1,704,176
672,354
2,376,530
1,704,176
672,354
85,410
82,812
2,598
85,410
82,812
2,598
44,160
396
43,764
44,160
396
43,764
7,807,820 6,537,801 1,270,019
(7,390,320 (6,106,910 1,283,410
5,362,900 5,638,299 275,399
(9,680 (13,318 (3,638
5,353,220 5,624,981 271,761
(2,037,100) (481,929) 1,555,171
7,905,436 7,905,436 -
$ 5,868,336 $ 7,423,507 $1,555,171
30,326,026 26,693,681 3,632,345
(3,994,408 (573,276 3,421,132
7,945,884
7,939,051
(6,833)
(9,504,494
(8,937,261
567,233
(1,558,610)
(998,210)
560,400
(5,553,018)
(1,571,486)
3,981,532
14,760,161
14,760,161
-
10,068
10,068
-
-
18,466
18,466
$ 9,217,211
$13,217,209
$3,999,998
10
KODIAK ISLAND BOROUGH EXHIBIT D
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS '
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS '
Year ended June 30, 1987
with comparative figures for 1986
1987 1986
Revenues:
Water sales
$ 156,901
$ 138,195
Sewer service charges
184,762
147,409
Sanitary landfill user fees
158,942
-
Patient revenues
5,009,194
5,261,182
Installation charges
94,463
4,107
Other
99,188
104,551
Total revenues
5,703,450
5,655,444
Operating expenses:
11
Personal services
50,896
25,303
Purchased water and sewer treatment
235,781
182,173
Contracted services
146,613
-
Repairs and maintenance
24,989
24,608
Depreciation
446,413
368,778
Installation costs
76,641
15,926
Professional care of patients
2,483,452
2,442,601
Plant operations and household
875,788
840,965
General administrative
1,538,427
1,277,275
Other
22,908
16,437
Total operating expenses
5,901,908
5,194,066
Operating income (loss)
(198,458
461,378
Other income:
Interest income 95,900 110,497
Other, primarily State of Alaska
revenue sharing 317,603 321,638
413,503 432,135
Net earnings 215,045 893,513
Amortization of contribution
in aid of construction
197,077
142,919
,
Increase in retained earnings
412,122
1,036,432
Retained earnings at beginning of year
3,583,570
2,547,138
,
Retained earnings at end of year
$3,995,692
$3,583,570
See accompanying notes.
'
11
' KODIAK ISLAND BOROUGH
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended June 30, 1987
with comparative figures for 1986
EXHIBIT E
1 A 0'7 1 nor
Financial resources provided:
Net earnings
$ 215,045
$ 893,513
Add: Depreciation which does not use working capital
446,413
368,778
Working capital provided by operations
661,458
1,262,291
{
,
State of Alaska grants
2,042,496
2,849,812
Contribution from the Kodiak Island Borough
General Fund for purchase of equipment
140,318
5,526
'
Reduction of long -term receivable
-
65,000
4,182,629
2,844,272
Total financial resources provided
Financial resources used:
Acquisition of property, plant and equipment
2,276,245
3,032,034
'
Increase in long -term receivable
298,000
Funding of Borough designated investments
760,134
Total financial resources used
3,334,379
3,032,034
Increase (decrease) in working capital
$ (490,107
$ 1,150,595
Changes in components of working capital:
Increase (decrease) in:
Current assets:
Other cash balances
$ (56,448)
$ 56,448
Equity in central treasury
12,911
53,976
Receivables
(479,558)
976,566
Inventories
11,870
28,827
Prepaid expenses
(12,330)
(9,171)
Restricted assets:
Equity in central treasury
119,057
-
Time certificates of deposit
(3,100,000)
1,852,213
Accrued interest receivable
(7,042)
(45,909)
'
Receivable from Lion Capital Group
-
(1,000,000)
Receivable from State of Alaska
220,000
(3,291,540
1,912,950
Current liabilities:
Bank overdraft
9,710
(28,708)
Advance from central treasury
2,601
-
Accounts payable
Customer deposits
4,906
3,786
39,685
1,506
'
Accrued liabilities
43,845
42,681
Payable from restricted assets:
Advance from central treasury
Contracts payable
(1,697,440)
236,315
1,663,745
(356,983)
Retainage payable
(2,661)
20,733
Unearned grant receipts
(1,402,495
(620,304
'
(2,801,433
762,355
Increase (decrease) in working capital
$ (490,107
$ 1,150,595
See accompanying notes.
12
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS ,
June 30, 1987
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. 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 activi-
ties 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 borrowings 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.
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, 1986, and the results of operations for the year
t
then ended. , w
13
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued)
Presentation
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 pro-
ceeds of specific revenue sources (other than special assessments and major
capital projects) that are legally restricted to expenditures for specific
purposes.
Debt Service Funds - The Debt Service Funds are used to account for the accu-
mulation of resources for, and the payment of, general long -term debt prin-
t ' cipal, interest and related costs.
14
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 state-
ments 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 pro-
ceeds of specific revenue sources (other than special assessments and major
capital projects) that are legally restricted to expenditures for specific
purposes.
Debt Service Funds - The Debt Service Funds are used to account for the accu-
mulation of resources for, and the payment of, general long -term debt prin-
t ' cipal, interest and related costs.
14
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued) '
June 30, 1987
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued)
Capital Projects Funds - Capital Projects Funds are used to account for finan-
cial 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 indi-
viduals 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) are considered a measure of available spen-
dable 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.
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. '
15
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued)
General Fixed Assets (Continued
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 non-
current 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.
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.
16
KODIAK ISLAND BOROUGH '
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued) '
June 30, 1987 {
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
B. Basis of Accounting
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 appli-
cable recognition policies:
Property Taxes
Property taxes are based on the assessed value of taxable property as of
January I. Pursuant to Alaska Statute 29.53.170, the Borough establishes the
mill rate on or before June 15. Tax bills may be paid in two installments on
August 15 and November 15; otherwise they are due and payable by 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; 1987 property
tax revenue is represented primarily by calendar year 1986 property taxes
received during the year ended June 30, 1987 or 60 days thereafter.
At June 30, 1987, the 1987 real and personal property tax levy of $1,990,200
is reflected as deferred revenue of the General Fund.
Intergovernmental Revenue
State of Alaska shared revenues, State of Alaska municipal assistance, Federal
shared revenue, and various State education - related entitlement programs and
State levied taxes (the proceeds of which are distributed to local govern-
ments) are recorded in the fiscal year to which they relate, including accrual
at year end of final payments due within approximately two to three months
after year end.
State of Alaska and Federal 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.
17 1
1
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
June 30, 1987
� I
� I
I I
B. Basis of Accounting
Land Sales Proceeds 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 con-
sistent with their nature in relation to measurement and availability stan-
dards.
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.
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
Fund Type (Agency Fund) is accounted for using the modified
of accounting similar to that utilized by Governmental Fund
The Fiduciary
accrual basis
Types.
C. 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 30 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.
d. Amendments to the budget can occur anytime 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.
18
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Budgets and Budgetary Accounting (Continued)
d. (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 pro-
ject completion.
h. Budgets adopted by the Borough Assembly are in accordance with generally
accepted accounting principles.
The School District
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,
1987, there were two formal budget revisions to adjust the revenues and expen-
ditures to available resources and program needs.
No other budgets are legally required.
19 1
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
D. Assets, Liabilities and Fund Equity
ENCUMBRANCES
Encumbrance accounting, under which purchase orders, contracts and other com-
mitments 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 reser-
vations of fund balances since they do not constitute expenditures or liabili-
ties.
INVENTORIES
The Kodiak Island Borough
Expendable operating supplies of the
purchase method and, at June 30, 1987,
items.
Borough are accounted for using the
there was no significant amount of such
The School District
Expendable operating supplies of the School District, consisting primarily of
teaching, maintenance and food supplies, are accounted for using the consump-
tion 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 (PEAS) 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 suf-
ficient 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.
20
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS€
(Continued)
June 30, 1987
2. CASH AND TEMPORARY INVESTMENTS
Cash balances of most borough funds are pooled in a central treasury. Each fund type's portion of
this pool is displayed on the combined balance sheet as "Equity in (advance from) central t
treasury ". In addition, investments are separately held by several of the Borough's funds.
Investments are carried at cost.
Deposits '
At June 30, 1987, the carrying amount of the Borough's deposits was $3,307,000 and the bank balance
was $4,977,000. Of the bank balance, $2,856,000 was covered by federal depository insurance or by
collateral held by a custodial bank for the Borough under a tri -party agreement and $2,121,000 was '
uninsured and uncollateralized. The uninsured and uncollateralized deposits represented the amount
by which demand deposits exceeded FDIC insurance.
Tnvactmantc
Statutes authorize the Borough to invest in obligations of the United States, the State of Alaska
and its political subdivisions, savings accounts, certificates of deposit, banker's acceptances,
repurchase agreements and such other legal security instruments.
The Borough's investments are categorized below to give an indication of risk assumed by the Borough
at year end. Category 1 includes investments that are insured, registered or collateralized with
securities held by the Borough or its agent in the Borough's name. Category 2 includes uninsured
and unregistered investments or collateralized investments, with securities held by the pledging
financial institution's trust department in the Borough's name. Category 3 includes uninsured,
unregistered and collateralized investments, with securities held by the pledging financial institu-
tion or by its trust department but not in the Borough's name.
Category
Carrying
1 2 3 Amount Market Value
Repurchase agreements $ - $ - $1,500,000 $ 1,500,000 $ 1,500,000
U.S. Government Securities 3,496,000 6,448,000 3,508,000 13,452,000 13,452,000
Municipal Securities 3,892,000 - - 3,892,000 3,344,000
Banker's Acceptances - 973,000 - 973,000 973,000
Commercial Paper - - 1,160,000 1,160,000 1,160,000
$7,388,000 $7,421,000 $6,168,000 $20,977,000 $20,429,000
Statutes require all investments to be collateralized or insured. Collateral pledged on investments
is required to be held for the Borough by a third party bank; however, during the year, the Borough
often permitted collateral to be held in the Borough's name by the pledging bank or its trust
department. In addition, amounts have been invested with dealers in excess of insurance coverage.
Other Cash and Investments
In addition to the above cash and investments which are under the control of the Borough, the
following are also reported in the financial statements: investments managed by deferred compen-
sation plan administrators ($356,886) and cash with fiscal agents for payment of bond principal and
interest ($1,462,905).
21a I
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
2. CASH AND TEMPORARY INVESTMENTS (Continued)
Investments made by the Borough are identified by the specific funding source. A summary of these
investments at cost on June 30, 1987 follows:
Special Debt Capital
General Revenue Service Projects Proprietary
Fund Funds Funds Funds Fund Type Total
Time certificates
of deposit:
National Bank of
Alaska
5.85%
6.3% -
250,000
First Interstate
Bank of Alaska
6.38% -
250,000
First Federal Bank
of Alaska, S.B.
6.2% -
100,000
-
600,000
Repurchase agreements:
National Bank of
Alaska
5% 1,500,000
-
United States Govern-
ment Securities:
Seattle First
National Bank
5.70% -
-
5.75% -
-
5.92% -
-
6.1% -
-
6.2% 1,000,000
-
Merrill Lynch
Pierce Fenner
6 Smith, Inc.
$1,000,000 $ - $ 1,000,000
250,000
750,000 1,000,000
- 100,000
1,000,000 750,000 2,350,000
- - 1,500,000
974,100 - - 974,100
974,178 - - 974,178
- 1,500,000 - 1,500,000
- 1,000,000 - 1,000,000
- 1,000,000 - 2,000,000
6.49% - - - 1,068,584
6.51% - - 2,160,444 -
6.55% - 847,360 - 1,000,000
6.80% 931,811 - - -
Paine Webber, Inc.
5.73% - - - 995,722
1,931,811 847,360 4,108,722 6,564,306
Municipal Securities:
Paine Webber, Inc.
4.0 - 7.0%
Banker's Acceptances:
Seattle First
National Bank
5.80%
Commercial paper:
Merrill Lynch
Pierce Fenner
6 Smith, Inc.
6.98%
- 1,068,584
- 2,160,444
- 1,847,360
- 931,811
995,722
13,452,199
1,070,633 621,019 1,139,948 1,060,680 - 3,892,280
- - 972,933 - - 972,933
- - - 1,159,950 - 1,159,950
$4,502,444 $2,068,379 $6,221,603 $9,784,936 $750,000 $23,327,362
21b
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
3. ANNUAL APPROPRIATION TO THE SCHOOL DISTRICT
An annual appropriation is made to the
School District with total resources
budgeted expenditures.
School District in order to provide the
in a fiscal year equal in amount to
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 reponsible for operating losses
(as contractually defined), if any, sustained by the Hospital.
Shared revenue received by the Borough from the State of Alaska includes
$218,750, required to be passed through to the Hospital. The Borough recorded
this amount as intergovernmental revenue and the pass- through as an expen-
diture for Hospital support.
5. RETIREMENT COMMITMENTS
As of June 30, 1987, 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. For the
period of July 1, 1986 through December 31, 1986, employees contributed 4.25%
of their compensation. Beginning January 1, 1987, employees contributed 6.75%
of their compensation on a pre -tax basis. 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.
22
i
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
5. RETIREMENT COMMITMENTS (Continued)
A study of actuarial assumptions was concluded in the fall of 1986 and contri-
bution rates for the Borough and School District were revised retroactive to
July 1, 1986 to reflect the adoption of the changes recommended by the
actuary. The changes included an increase in the interest assumption from 8%
to 9% and a decrease in the salary assumption from 8% to 6.5 %. The effect of
the change in assumptions was to reduce the contribution for the year by
approximately $110,000 for the Borough and $149,000 for the School District.
A comparison of the accumulated benefit liability and the net assets available
in the plan for the Borough and School District is presented below:
School
Borough District Total
Actuarial present value of
accumulated plan benefits:
Vested
Nonvested
Net assets available
for benefits
$1,561,304 $3,950,099 $5,511,403
The total pension contributions for 1987 were approximately $261,000 which
include amortization of past service cost over 25 years.
Alaska Teachers' Retirement System (TRS)
TRS is a defined benefit pension plan to which employees contribute 7% of
their compensation. In addition to the employees contribution, the 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 District's contribution rate for 1987 was 6.88 %. Commencing
July 1, 1987, the contribution rate for the District will be 13.76 %. The
State of Alaska passed legislation that requires the District to assume
responsibility for the contribution previously contributed by the State.
' The Alaska Teachers' Retirement System does not maintain benefit data by par-
ticipating 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 District are not available. As of the latest
available actuarial valuation date for the system (June 30, 1986), the accrued
funding ratio for all participating entities taken together was 93.2 %. The
total pension contributions for 1987 were approximately $1,114,000 which
' includes amortization of past service cost over 25 years and charges of
$598,000 associated with payments for the retirement incentive program.
$1,125,387 $2,951,422 $4,076,809
999,364 2,227,278 3,226,642
$2,124,751 $5,178,700 $7,303,451
11 23
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
6. LONG -TERM DEBT
The following is a summary of general obligation debt for the year ended June 30, 1987:
Interest Payments
General Issue Maturity
Obligation Bonds Rates Dates Date Date Dates Amount
Term bonds -
Hospital building 4.875% 11/1 -5/1 5/1/67 5/1/87 $ -
Serial bonds:
Schools
5%
9/1 -3/1
1/1/67
9/1/87
9/1/87
50,000
Schools refunding
7.25%
8/1 -2/1
8/1/74
8/1/92
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
Schools
7.3 -9%
8/1 -2/1
8/1/80
8/1/2000
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
Junior High School
Renovation
Variable
Quarterly
6/1/83
7/1/86
High School
Auditorium
Variable
Quarterly
5/3/84
7/1/89
7/1/87
500,000
10/1/87
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
7/1/89
550,000
Schools, Multi- projects Variable Quarterly 5/28/86 6/1/96 9/1/87 250,000
to X 36
6/1/96
9,000,000
$25,925,000
24a
Authorized
Prior Years
Current Year
Balance at
Balance at
Year Amount
Issued Retired
July 1, 1986
Issued Retired
June 30, 1987
1967 $ 300,000
$ 300,000 $ -
$ 300,000
$ - $ 300,000
$ -
1965 750,000
750,000 650,000
100,000
- 50,000
50,000
1974 1,900,000
1,900,000 -
1,900,000
- 215,000
1,685,000
1979 29,000,000 12,100,000 1,315,000 10,785,000
7,400,000 6,400,000 1,000,000
9,500,000 2,850,000 6,650,000
29,000,000 10,565,000 18,435,000
1986 9,930,000 9,930,000 - 9,930,000
395,000 10,390,000
- 1,000,000 -
- 1,850,000 4,800,000
3,245,000 15,190,000
930,000 9,000,000
$41,880,000 $41,880,000 $11,215,000 $30,665,000 $ - $4,740,000 $25,925,000
24b
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
6. LONG -TERM DEBT (Continued)
United States Environmental Protection Agency Note Payable
The $375,000 Asbestos School Hazard Abatement interest free loan is due in
semi - annual installments of a minimum amount of $2,500 commencing on or before
June 30, 1987 and continuing until the principal is fully paid on or before
June 24, 2005.
A summary of long -term debt as of and for the year ended June 30, 1987 follows:
Balance at Balance at
July 1, 1986 Additions Retirements June 30, 1987
General obligation
bonds $30,665,000 $ $4,740,000 $25,925,000
EPA loan payable 375,000 - 10,417 364,583
Accrued annual leave 128,879 15,336 - 144,215
$31,168,879 $15,336 $4,750,417 $26,433,798
The annual requirements to amortize all general obligation debt and the EPA
loan payable outstanding as of June 30, 1987, including interest payments of
$10,941,278 on the general obligation debt, are as follows:
Annual Requirements to Amortize long -term debt
Year Ending
General
June 30
Obligation
EPA Loan
1988
$ 5,658,421
$ 5,000
1989
5,544,691
5,000
1990
3,664,414
5,000
1991
3,020,904
5,000
1992
2,943,093
5,000
1993
2,860,072
5,000
1994
2,438,802
5,000
1995
2,359,481
5,000
1996
2,279,200
5,000
1997
1,228,000
5,000
1998
1,221,600
5,000
1999
1,219,600
5,000
2000
1,216,400
5,000
2001
1,211,600
5,000
2002 -2005
-
294,583
$36,866,278
$364,583
25
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
' (Continued)
June 30, 1987
6. LONG -TERM DEBT (Continued)
The amount of $7,279,292 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 limita-
tions and restrictions.
j 0 Refunding Bonds
' During 1974, the Borough defeased existing bonds by utilizing the proceeds of
bonds then issued. The proceeds from the "refunding bonds" (issued in the
amount of $2,325,000) have been invested in U.S. Government securities at an
interest rate which will result in a return of proceeds that, when added to
the securities' principal balances, will be sufficient to meet the interest
' and principal requirements of the defeased bonds.
The investments in the securities and the current obligations of the defeased
� bonds are not reflected in the combined financial statements. A summary of
! the investments held in trust and the current obligations of the defeased
bonds at June 30, 1987 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 $1,800,000 $1,770,238
*Central Bank of Denver as Trustee
7. GENERAL FIXED ASSETS ACCOUNT GROUP
During the year ended June 30, 1987, the Borough completed a formal process of
valuing land and buildings which had been transferred from the federal and
state governments. Estimated values were established as of the date of
interim conveyance based upon recorded sales of comparable property adjusted
by factors to compensate for size and time differences. As a result, the
carrying value of land was reduced by $99,522,394 and the carrying value of
buildings was increased by $309,196 for a net decrease in assets and fund
equity of $99,213,198 as of June 30, 1986.
-
�i 26
1 1
i
KODIAK ISLAND BOROUGH ,
9
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued) '
June 30, 1987
7. GENERAL FIXED ASSETS ACCOUNT GROUP (Continued)
A summary of changes in the General Fixed Assets Account Group for the year
ended June 30, 1987 follows:
General fixed assets are recorded as expenditures of the various Borough funds
at the time of purchase and are subsequently capitalized for memorandum pur-
poses in the General Fixed Assets 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.
8. ENTERPRISE FUND SEGMENT INFORMATION
The Borough owns and operates a Water and Sewer Utility Enterprise Fund and a
Sanitary Landfill Fund. The Kodiak Island Borough Hospital is included in the
Borough's financial statements as a component unit. The water and sewer utility
and landfill have 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, 1987 for
the water and sewer utility and landfill and as of and for the year ended
December 31, 1986 for the Hospital are as follows:
Sanitary Water and
Landfill Sewer Utility Hospital Total
Operating revenues
Balance
$ 442,879
$5,101,629
$ 5,703,450
Depreciation
July 1, 1986
199,107
247,306
Balance
Operating income (loss )
(restated)
Additions
Deductions
June 30, 1987
Land
$ 6,952,174
$ 517,141
$ -
$ 7,469,315
Buildings
49,706,751
2,266,541
-
51,973,292
Improvements other
10,052
(69,266)
274,259
215,045
than buildings
730,239
3,133,235
-
3,863,474
Machinery and equipment
2,426,929
322,290
181,870
2,567,349
Construction work
-
2,042,496
140,318
2,182,814
in progress
1,136,720
4,915,366
5,370,641
681,445
Property, plant and
$60,952,813
$11,154,573
$5,552,511
$66,554,875
General fixed assets are recorded as expenditures of the various Borough funds
at the time of purchase and are subsequently capitalized for memorandum pur-
poses in the General Fixed Assets 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.
8. ENTERPRISE FUND SEGMENT INFORMATION
The Borough owns and operates a Water and Sewer Utility Enterprise Fund and a
Sanitary Landfill Fund. The Kodiak Island Borough Hospital is included in the
Borough's financial statements as a component unit. The water and sewer utility
and landfill have 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, 1987 for
the water and sewer utility and landfill and as of and for the year ended
December 31, 1986 for the Hospital are as follows:
Sanitary Water and
Landfill Sewer Utility Hospital Total
Operating revenues
$158,942
$ 442,879
$5,101,629
$ 5,703,450
Depreciation
-
199,107
247,306
446,413
Operating income (loss )
10,052
(165,166)
(43,344)
(198,458)
Operating grants
entitlements
-
-
317,603
317,603
Net earnings (loss)
10,052
(69,266)
274,259
215,045
Contributions in aid
of construction:
Additions
-
2,042,496
140,318
2,182,814
Amortization
-
197,077
-
197,077
Property, plant and
equipment additions
-
2,042,496
233,749
2,276,245
Net working capital
10,052
(339,102)
1,411,790
1,082,740
Total assets
17,797
14,518,325
7,114,556
21,650,678
Total equity
10,052
13,973,562
6,857,670
20,841,284
I �
27 j
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
9. CAPITAL PROJECTS FUNDS CONSTRUCTION COMMITMENTS
A summary of Capital Projects Funds construction commitments at June 30, 1987
follows:
Various Borough Projects $ 15,580
School Bond Improvements Fund 2,556,117
School Equipment and Furnishings Fund 4,381
State Capital Grants Fund 545,177
$3,121,255
Resources are presently available or committed to finance construction commit-
ments at June 30, 1987.
10. DEFERRED COMPENSATION PLAN
The Kodiak Island Borough has a deferred compensation plan created in accor-
dance with Internal Revenue Code Section 457. The Plan is available to all
permanent Borough employees. The deferred compensation is not available to
employees until termination, retirement, death or unforeseeable emergency.
All amounts of compensation deferred under the plan, all property and rights
purchased with those amounts, and all income attributable to those amounts,
property or rights are (until paid or made available to the employee or other
beneficiary) solely the property and the right of the Borough (without being
restricted to the provisions of benefits under the plan), subject only to the
claims of the Borough's general creditors. Participants' rights under the
plan are equal to those of general creditors of the Borough in an amount equal
to the fair market value of the deferred account for each participant.
' The funds are managed by the International City Managers Association
Retirement Corporation. The Borough has no liability for losses under the
plan but does have the duty of due care that would be required of an ordinary
prudent investor. The Borough believes that it is unlikely that it will use
the assets to satisfy the claims of general creditors in the future.
11
11 28
I
1;
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1987
11. INDIVIDUAL FUND DISCLOSURES
Interfund Receivables and Payables
A summary of interfund receivables and payables at June 30, 1987 is as follows:
Receivable Payable
Special Revenue Funds - Education
Capital Projects Funds - School
Equipment and Furnishings
Agency Funds - Student Activities
Fund Deficits
$ - $51,804
52,023 -
- 219
$52,023 $52,023
The Bay View Road Service District Fund has a fund deficit of $1,223 at June
30, 1987.
Interfund Transfers
Operating transfers include a $3,000 transfer to the Student Activities Agency
Fund.
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.
13. SUBSEQUENT EVENT
The Kodiak Island Borough and Kodiak Island Borough School District have
agreed to a settlement of their asbestos -in- buildings litigation with W.R.
Grace & Co. Indications are that a minimum of $1,000,000 will be received by
the Borough as a result of the settlement.
II
29 1
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, 1987
with comparative figures for 1986
ASSETS
Cash and investments:
Temporary cash investments
$4,502,444
$4,920,754
Other cash balances
1,700
1,508
Total cash and investments
4,504,144
4,922,262
Receivables:
Property taxes:
Areawide tax role due in subsequent year
1,990,200
1,741,772
Delinquent taxes
49,235
43,185
Allowance for uncollectible delinquent taxes
(11,200
(14,974
Net property taxes
2,028,235
1,769,983
State of Alaska
988,582
610,423
Accrued interest receivable
78,492
22,462
Other
23,240
74,097
Net receivables
3,118,549
2,476,965
Prepaids
66,142
-
$7,688,835
$7,399,227
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
Unreserved:
Designated:
Working capital
Subsequent year expenditures
Total fund balance
$3,157,151 $3,058,732
27,440 45,771
36,982 17,447
1,315 3,405
1,990,200 1,741,772
5,213,088 4,867,127
40,376 13,565
1,250,000 900,000
1,185,371 1,618,535
2,475,747 2,532,100
6-7 AAA Als 57.199.227
30
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
1987
Revenues:
Property taxes:
General
Penalty and interest
Payment in lieu of taxes
Total property taxes
Intergovernmental:
State sources:
State shared revenue
Municipal assistance
Raw fish tax
Emergency medical
services
Electric co -op tax
Miscellaneous
Total State sources
Federal sources
Total inter-
governmental
Licenses, permits, fees and
other local revenues:
Buildings and trailers
Subdivision and zoning
fees
Sale of copies
Miscellaneous
Total licenses,
permits, fees
and other local
sources
Continued
Budget Actual
$1,693,430
$ 1,687,220
30,000
42,839
457,980
458,691
2,181,410
2,188,750
735,720 612,039
613,220 621,255
550,000 871,703
5,790
5,790
210
378
1,904,940
2,111,165
2,310
3,118
Variance
Favorable
( Unfavorable )
Schedule 2
1986
$ (6,210) $ 1,675,032
12,839 22,380
711 368,028
7,340 2,065,440
(123,681)
807,263
8,035
791,596
321,703
647,057
-
24,323
-
5,444
168
168
206,225 2,275,851
808 1,804
1,907,250
2,114,283
207,033
2,277,655
22,000
21,984
(16)
23,950
11,250
11,268
18
14,715
6,270
3,364
(2,906)
8,837
47,030
101,535
54,505
6,284
86,550 138,151 51,601 53,786
31
Schedule 2 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
r ,
it
11
Investments and property:
Interest income
Gain (loss) on exchange
Lease rentals on land
and buildings
Computer rental
Total investments
and property
Total revenues
Expenditures:
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
Emergency preparedness
Facilities department
Community and Regional
Affairs Liaison
Education support
Economic development
Total expenditures
Excess of revenues over
expenditures
Continued
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$ 233,800 $ 419,172
- 29,746
1,250 2,600
90,000 99,330
$ 185,372
$ 366,054
29,746
(481,269)
1,350
2,190
9,330
83,849
325,050 550,848
4,500,260 4,992,032
46,350
46,584
128,240
122,886
158,930
154,011
208,470
204,855
130,500
62,876
195,100
160,839
224,070
218,570
134,510
134,126
556,380
499,930
284,220
277,410
52,300
53,324
426,370
442,421
90,830
64,629
35,000
21,656
49,620
50,071
9,780
4,613
154,500
154,330
69,700
70,637
2,954,870 2,743,768
225,798 (29,176
491,772 4,367,705
(234)
47,386
5,354
133,634
4,919
152,970
3,615
199,094
67,624
100,411
34,261
195,493
5,500
205,833
384
72,627
56,450
503,516
6,810
265,957
(1,024)
53,286
(16,051)
288,529
26,201
73,119
13,344
3,678
(451)
82,872
5,167
2,447
170
392,858
(937)
211,102 2,773,710
1,545,390 2,248,264 702,874 1,593,995
32
Schedule 2 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
33
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
Operating transfers from
other funds:
Special Revenue -
land sales $
52,300
$ 52,300
$ -
$ 53,660
Capital Projects:
State school construction
243,750
-
(243,750)
-
Other
-
4,790
4,790
-
Total operating
transfers from
other funds
296,050
57,090
(238,960
53,660
Operating transfers to
other funds:
Special Revenue:
Mental Health Center
80,000
80,000
-
60,000
Education
1,746,800
1,746,800
-
1,270,000
Buildings and grounds
163,100
163,100
-
26,610
Debt Service Funds:
School bonds
383,220
383,220
-
286,690
Other
-
7,053
(7,053)
10,359
Capital Projects:
Hospital improvements
-
-
-
123,810
Total operating
transfers to
other funds
2,373,120
2,380,173
(7,053
1,777,469
Net operating trans-
fers in (out)
(2,077,070
(2,323,083
(246,013
(1,723,809
Excess (deficiency) of revenues
and operating transfers from
other funds over expenditures
and operating transfers to
other funds
(531,680)
(74,819)
456,861
(129,814)
Fund balance at beginning
of year
2,532,100
2,532,100
-
2,661,914
Residual equity transfer
-
18,466
18,466
-
Fund balance at end of year $
2,000,420
$ 2,475,747
$ 475,327
$ 2,532,100
33
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
Expenditures:
Borough Assembly:
Assembly compensation
Retirement contribution
Office supplies
Telephone and telegraph
Travel and per diem -
fringe benefits
Travel and per diem -
Assembly
Insurance and bonding
Printing and binding
Publications and dues
Miscellaneous
Legislative effort
Honorariums /amenities
Food /business lunch
Machinery and equipment
Total Borough
Assembly
Continued
1987
Budget _
$ 8,400 $
800
250
11,000
12,500
7,000
400
1,000
3,000
2,000
8,400
301
28
8,512
14,278
10,170
865
3,104
926
Variance
Favorable 1986
( Unfavorable ) Actual
499
222
$ 8,600
462
11
203
1,033
2,488
(1,778)
(3,170)
(465)
1,000
(104)
1,074
46,350 46,584 (234
4,836
12,422
3,427
10,267
1,725
1,951
2,449
47,386
34
Schedule 3 (Continued)
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Continued
35
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
Mayor's department:
Borough mayor salary
$ 60,000
$ 60,404
$ (404)
$ 60,692
Secretary salary
30,320
33,887
(3,567)
32,354
Unemployment tax
230
292
(62)
243
Social security tax
5,170
5,356
(186)
5,016
Group insurance
4,690
5,051
(361)
4,712
Workers' compensation
780
801
(21)
783
Termination reserve
2,000
-
2,000
10,000
Retirement contribution
10,550
3,967
6,583
10,199
Continuing education
1,500
40
1,460
302
Office supplies
600
504
96
565
Telephone and telegraph
1,200
1,663
(463)
1,451
Travel and per diem
3,000
3,100
(100)
1,834
Repairs and maintenance
500
109
391
90
Printing and binding
5,000
5,157
(157)
2,657
Publications and dues
1,200
1,675
(475)
1,540
Furniture and fixtures
500
-
500
43
Boards and committees
1,000
880
120
824
Advertising and hearings
-
-
-
329
Total mayor's
department
128,240
122,886
5,354
133,634
Continued
35
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Continued
36
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
Clerk's department:
Clerk salary
$ 43,160
$ 45,290
$ (2,130)
$ 42,940
Secretary salary
-
-
-
1,906
Deputy clerk salary
26,330
28,276
(1,946)
32,167
Unemployment tax
460
586
(126)
657
Social security tax
4,880
5,202
(322)
5,854
Group insurance
4,690
5,051
(361)
5,063
Workers' compensation
580
614
(34)
761
Termination reserve
700
-
700
1,075
Retirement contribution
8,130
3,119
5,011
10,102
Continuing education
4,500
3,760
740
3,354
Office supplies
1,000
4,242
(3,242)
1,585
Telephone and telegraph
900
1,145
(245)
1,138
Advertising and public
hearing
20,000
15,211
4,789
7,381
Travel and per diem
750
1,126
(376)
602
Postage
10,000
17,604
(7,604)
9,602
Election - local
16,200
11,874
4,326
18,171
Professional services
(consultants)
1,000
-
1,000
90
Personnel recruitment
-
-
-
1,439
Repairs and maintenance
500
271
229
82
Printing and binding
6,000
6,595
(595)
6,053
Publications and dues
750
688
62
686
Machinery and equipment
-
93
(93)
962
Equipment lease /purchase
900
1,764
(864)
857
Relocation expense
-
-
-
443
Contracted services
7,500
1,500
6,000
-
Total clerk's
department
158,930
154,011
4,919
152,970
Continued
36
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
1987
Finance department:
Finance director salary
Cashier salary
Accountant salary
Accounting clerk I
salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Continuing education
Office supplies
Telephone and telegraph
Advertising and public
hearings
Travel and per diem
Insurance and bonding
Repairs and maintenance
Printing and binding
Publications and dues
Furniture and fixtures
Personnel recruitment
Costs allocated to
projects
Total finance
department
Continued
(7,644 7,644
1986
52,58`
21,32S
41,85;
28,30;
974
9,35E
4,97E
1,192
15,713
6,051
1,931
2,22E
152
1,642
6,102
18C
1,747
1,570
1,098
102
208,470 204,855 3,615 199,094
37
Variance
Favorable
Budget
Actual
( Unfavorable )
$ 54,190
$ 53,797
$ 393
22,600
29,429
(6,829)
42,500
45,347
(2,847)
26,180
29,898
(3,718)
920
1,272
(352)
9,490
10,516
(1,026)
5,880
6,686
(806)
1,210
1,347
(137)
4,370
-
4,370
17,000
6,402
10,598
3,500
7,465
(3,965)
2,850
2,792
58
2,200
3,071
(871)
500
-
500
4,000
2,003
1,997
5,430
5,925
(495)
500
114
386
1,500
3,762
(2,262)
1,650
1,136
514
500
1,477
(977)
1,500
60
1,440
(7,644 7,644
1986
52,58`
21,32S
41,85;
28,30;
974
9,35E
4,97E
1,192
15,713
6,051
1,931
2,22E
152
1,642
6,102
18C
1,747
1,570
1,098
102
208,470 204,855 3,615 199,094
37
KODIAK ISLAND BOROUGH
GENERAL FUND
Schedule 3 (Continued
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
1987
Variance
Favorable
Budget Actual ( Unfavorable
Legal department:
47,880
Court costs and litigation
5,130
allowance $
40,000
Telephone and telegraph
500
Advertising and public
27,814
hearings
12,500
Travel and per diem
5,000
Professional services
70,000
Miscellaneous
100
Fees
1,000
Printing and binding
200
Filing recording fees
1,200
Total legal department 130,500
Assessment department:
$ 4,412 $ 35,588
73 427
16,431
39,090
156
400
95
2,219
62,876
(3,931)
5,000
30,910
(56)
600
105
(1,019
67,624
1986
Actual
$ 34,691
62
12,690
505
51,122
805
89
447
1(M_411
Appraiser /assessor salary
47,880
42,750
5,130
50,038
Assessing clerk II salary
25,380
24,106
1,274
27,814
Assessing clerk I salary
22,550
14,049
8,501
24,963
Appraiser I salary
36,030
35,586
444
37,606
Unemployment tax
920
1,018
(98)
972
Social security tax
9,000
8,276
724
9,199
Group insurance
6,750
5,708
1,042
6,685
Workers' compensation
3,230
2,861
369
3,309
Termination reserve
1,890
-
1,890
-
Retirement contribution
15,420
4,652
10,768
14,983
Continuing education
3,000
2,466
534
3,507
Office supplies
1,000
565
435
1,485
Telephone and telegraph
1,500
2,503
(1,003)
1,861
Advertising and public
hearings
1,250
142
1,108
617
Travel and per diem
8,000
4,498
3,502
3,234
Repairs and maintenance
400
168
232
125
Printing and binding
7,000
3,619
3,381
5,764
Publications and dues
1,500
2,061
(561)
2,269
Furniture and fixtures
1,500
5,236
(3,736)
971
Boards and committees
900
-
900
-
Personnel recruitment
-
575
(575
91
Total assessment
department
195,100
160,839
34,261
195,493
Continued
38
Schedule 3 (C ontinued)
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Community development
department:
Planning director
salary
Zoning officer salary
Assistant planner salary
Secretary salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Continuing education
Office supplies
Telephone and telegraph
Advertising and public
hearings
Travel and per diem
Repairs and maintenance
Contracted services
Printing and binding
Publications and dues
Machinery and equipment
Furniture and fixtures
Boards and committees
Costs allocated to
projects
Total community
development
department
Continued
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$ 51,280
$ 53,205
$ (1,925)
$ 51,497
31,210
31,698
(488)
31,352
42,450
40,156
2,294
38,640
24,500
25,626
(1,126)
24,549
920
1,173
(253)
1,180
9,980
10,122
(142)
9,284
5,640
6,395
(755)
5,531
3,760
3,774
(14)
3,520
2,670
-
2,670
-
17,460
6,436
11,024
15,840
2,800
2,507
293
4,476
2,000
2,472
(472)
3,008
1,350
2,161
(811)
1,589
10,000
3,123
6,877
5,844
2,650
1,608
1,042
4,221
-
57
(57)
258
-
-
-
9,761
5,000
9,758
(4,758)
6,283
1,500
1,972
(472)
2,371
-
8,711
(8,711)
-
500
33
467
2,875
8,400
8,410
(10)
7,862
-
(827
827
(24,108
224,070
218,570
5,500
205,833
a7
ff
t
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Engineering department:
Engineer salary
Construction inspector
salary
Draftsman salary
Secretary salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Continuing education
Office supplies
Telephone and telegraph
Advertising and public
hearings
Travel and per diem
Repairs and maintenance
Printing and binding
Publications and dues
Machinery and equipment
Costs allocated to
projects
Operating supplies
Contracted services
Total engineering
department
Continued
40
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
$ 57,520
$ 59,372
$ (1,852)
$ 56,995
50,840
52,724
(1,884)
52,868
33,770
35,149
(1,379)
32,741
25,240
25,133
107
25,700
920
1,140
(220)
920
10,210
10,367
(157)
9,990
6,750
8,383
(1,633)
6,562
4,240
4,277
(37)
4,217
2,810
-
2,810
-
19,560
7,187
12,373
18,810
3,000
1,858
1,142
1,239
1,200
2,020
(820)
1,401
1,000
1,465
(465)
1,200
-
-
-
58
1,500
-
1,500
-
1,000
287
713
653
2,000
1,803
197
1,800
750
467
283
464
-
2,095
(2,095)
17,945
(90,000)
(106,995)
16,995
(165,321)
2,200
2,457
(257)
4,385
-
24,937
(24,937
-
134,510
134,126
384
72,627
40
Schedule 3 (Conti
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
1987
Health and sanitation:
Council on Alcoholism
Hospital support
Ambulance service
Village health services
Chiniak Community
Association
Kodiak Area Native
Association
Women's Resource Center
Kodiak Baptist Mission
Contribution Health
Center support
Contracted services
Animal control
Total health and
sanitation
Continued
Budget Actual
$ 42,000
$ 38,500
250,000
218,750
50,000
50,000
48,000
42,000
15,000
15,000
16,000
14,000
22,000
19,250
60,000
52,500
300 300
28,080 24,565
25,000 25,065
556,380 499,930
Variance
Favorable
( Unfavorable )
$ 3,500
31,250
6,000
2,000
2,750
7,500
3,515
(65
56,450
1986
Actual
$ 28,000
277,717
50,000
48,000
16,000
22,000
60,000
1,799
503,516
41
Schedule 3 (Continued)
Continued
42
KODIAK ISLAND BOROUGH
'
GENERAL FUND
STATEMENT OF EXPENDITURES
AND TRANSFERS
-
BUDGET AND ACTUAL
'
(Continued)
Year ended June 30, 1987
' with
comparative figures for 1986
1987
Variance
'
Favorable
1986
Budget Actual
( Unfavorable )
Actual
' Data services:
Data processing manager
salary
$ 44,470 $
46,262
$ (1,792)
$ 46,311
Programmer /analyst salary
39,730
47,532
(7,802)
19,033
Data technician I
salary
27,400
28,697
(1,297)
27,091
Programmer salary
_
-
-
4,333
Other staff wages
4,676
(4,676)
Unemployment tax
690
953
(263)
718
Social security tax
7,800
8,883
(1,083)
6,361
' Group insurance
7,470
8,663
(1,193)
5,934
Workers' compensation
930
1,048
(118)
773
Termination reserve
2,210
-
2,210
-
Retirement contribution
13,040
5,213
7,827
10,482
'
Professional education
9,500
6,347
3,153
11,741
Office supplies
500
762
(262)
1,338
Telephone and telegraph
1,600
1,844
(244)
1,921
'
Travel and per diem
1,000
58
942
Relocation expenses
2,836
Professional services
8,000
8,200
(200)
-
' Repairs and maintenance
28,880
23,455
5,425
29,651
Printing and binding
300
288
12
190
Publications and dues
1,040
960
80
665
Furniture and fixtures
2,450
526
1,924
3,089
Machinery and equipment
55,000
62,291
(7,291)
59,722
Equipment lease /purchase
22,640
10,596
12,044
23,718
Operating supplies
8,070
13,288
(5,218)
6,439
' Personnel recruitment
1,500
1,500
3,386
Advertising /hearing
_
225
Costs allocated to projects -
(3,132
3,132
-
Total data services
284,220
277,410
6,810
265,957
Continued
42
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Resource management:
Manager salary
Social security tax
Group insurance
Retirement contribution
Unemployment tax
Workers' compensation
Office supplies
Telephone and telegraph
Travel and per diem
Continuing education
Furniture and fixtures
Printing and binding
Publications and dues
Staff wages /temporary help
Termination reserve
Advertising /hearing
Fees
Machinery and equipment
Total resource
management
Continued
1987
Variance
Favorable
Budget Actual ( Unfavorable )
1986
$ 36,090 $
38,514
$ (2,424)
$ 37,849
2,580
2,677
(97)
2,626
2,780
2,888
(108)
2,545
4,220
1,599
2,621
4,148
230
292
(62)
237
1,020
1,063
(43)
1,048
300
300
-
547
1,200
1,576
(376)
1,420
880
404
476
1,067
1,000
1,098
(98)
456
-
-
-
308
500
1,420
(920)
299
300
301
(1)
389
-
-
-
153
580
-
580
-
-
-
-
126
-
-
-
68
620
1,192
(572
-
52,300
53,324
(1,024
53,286
43
Schedule 3 (C ontinued)
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
1987
Variance
Favorable
Budget Actual ( Unfavorable )
General administration:
Secretary salary
Switchboard operator
salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Continuing education
Office supplies
Rent
Street assessments
Street signs and house
numbers
Printing and binding
Automobile repairs
and maintenance
Insurance and bonding
Repairs and maintenance
Audits and consultants
Capital outlay - automotive
Capital outlay - machinery
and equipment
Contributions
Miscellaneous
Personnel recruitment
Bad debt expense
Food /business lunch
Training staff
Telephone and telegraph
Advertising /hearing
Out of pocket expense
Contracted services
Total general
administration
Continued
1986
$ 24,270
$ 25,943
$ (1,673)
$ 24,072
15,000
18,293
(3,293)
-
230
627
(397)
214
1,740
3,163
(1,423)
1,711
1,670
1,893
(223)
1,499
200
367
(167)
200
-
(7,053)
7,053
(10,359)
2,840
2,078
762
2,671
5,250
5,279
(29)
(942)
750
816
(66)
1,096
110,020
110,020
-
110,020
-
18,858
(18,858)
-
1,500
950
550
21,011
-
773
(773)
235
7,000
5,919
1,081
5,256
75,000
87,181
(12,181)
12,477
-
57
(57)
72
69,000
52,349
16,651
61,119
-
-
-
11,029
1,500
1,049
451
1,536
82,200
82,200
-
26,500
-
885
(885)
-
-
53
(53)
-
1,200
-
1,200
-
1,000
792
208
908
-
-
-
646
1,000
1,109
(109)
511
-
-
-
96
25,000
24,700
300
16,951
-
4,120
(4,120
-
426,370
442,421
(16,051
288,529
44
Schedule 3 (Co
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
1987
Building inspector's
department:
Building official
salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Retirement contribution
Telephone and telegraph
Advertising and
public hearings
Travel and per diem
Printing and binding
Contracted services
Continuing education
Publications and dues
Termination reserve
Furniture and fixtures
Office supplies
Costs allocated to
projects
Total building
inspector's
department
Emergency preparedness:
Telephone and telegraph
Printing and binding
Repairs and maintenance
Travel and per diem
Machinery and equipment
Total emergency
preparedness
Continued
1,000
1,382
Variance
200
51
Favorable
Budget
Actual
( Unfavorable )
$ 49,060
$ 52,302
$ (3,242)
230
293
(63)
3,000
2,990
10
1,910
2,163
(253)
1,390
1,402
(12)
5,740
2,108
3,632
500
959
(459)
1,000
1,382
(382)
200
51
149
20,000
3,388
16,612
3,700
1,210
2,490
1,200
1,977
(777)
2,800
-
2,800
100
6
94
-
(5,602
5,602
1986
E
52,897
227
2,949
1,909
1,413
5,603
600
185
129
298
4,767
1,912
71
159
90,830
64,629
26,201 73,119
2,500
-
2,500 -
10,000
6,500
3,500 3,678
2,500
-
2,500 -
20,000
15,156
4,844 -
35,000
21,656
13,344 3,678
45
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
1987
Facilities coordinator
department:
Managerial salaries
Construction inspectors
salaries
Secretary salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Office supplies
Telephone and telegraph
Advertising and public
hearing
Travel and per diem
Repairs and maintenance
Personnel recruitment
Printing and binding
Publications and dues
Continuing education
Professional services
Costs allocated to
projects
Furniture and fixtures
Contracted services
Total facilities
coordinator
department
Continued
Budget
$ 51,900
42,160
22,700
690
7,620
4,840
2,860
2,300
13,650
1,000
4,000
�=11111
2,000
400
5,000
10,000
(125,000)
3,000
Variance
Favorable 1986
Actual ( Unfavorable ) Actual
$ 50,542
44,601
28,982
1,160
8,581
3,554
2,275
5,020
2,363
4,738
3,873
1,466
78
237
3,650
467
318
1,703
(129,365)
1,256
14,572
$ 1,358
(2,441)
(6,282)
(470)
(961)
1,286
585
2,300
8,630
(1,363)
(738)
(3,373)
(1,466)
(78)
(237)
(1,650)
(67)
4,682
8,297
4,365
1,744
(14,572
56,557
28,567
20,792
797
6,698
4,453
2,581
11,879
2,274
3,307
41
65
2,301
2,035
632
1,869
(64,020)
2,044
49,620 50,071 (451 82,872
46
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Community and regional
affairs liaison:
Telephone and telegraph
Printing and binding
Travel and per diem
Office supplies
Postage
Rent
Total community and
regional affairs
liaison
Education support:
Library
Community college
Village libraries
Public radio
Insurance
Professional services
Out of pocket expense
Historical Society
Total education
support
Continued
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$ 1,000 $ 4,077 $ (3,077) $ 2,113
500 289 211 205
- - - (30)
- - - 60
300 247 53 99
7,980 - 7,980 -
9,780 4,613
60,000
60,000
32,000
32,000
24,500
24,500
8,000
8,000
18,000
15,590
7,000
9,240
5,000
5,000
5,167 2,447
- 60,000
- 33,000
- 24,500
- 7,500
- 242,501
2,410 22,000
(2,240) 3,357
154,500 154,330
170 392,858
47
Schedule 3 (Continued)
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Economic development:
Manager salary
Social security tax
Group insurance
Retirement contribution
Unemployment tax
Workers' compensation
Office supplies
Telephone and telegraph
Personnel recruitment
Travel and per diem
Printing and binding
Publications and dues
Advertising /hearing
Contracted services
Machinery and equipment
Total economic
development
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:
Hospital improvements
Total transfers to
other funds
80,000
1987
- 60,000
1,746,800
1,746,800
Variance
163,100
163,100
Favorable 1986
Budget
Actual
( Unfavorable ) Actual
-
-
$ 36,000
$ 41,760
$ (5,760) $ -
2,570
2,986
(416) -
1,350
1,687
(337) -
4,210
1,783
2,427 -
230
448
(218) -
1,020
347
673 -
500
131
369 -
1,500
893
607 -
500
-
500 -
4,000
3,902
98 -
6,000
2,774
3,226 -
200
505
(305) -
-
677
(677) -
7,620
7,306
314 -
4,000
5,438
(1,438 -
69,700
70,637
(937 -
2,954,870
2,743,768
211,102 2,773,710
80,000
80,000
- 60,000
1,746,800
1,746,800
- 1,270,000
163,100
163,100
- 26,610
383,220
390,273
(7,053) 286,690
-
-
- 10,359
-
-
- 123,810
2,373,120 2,380,173
$5,327,990 $5,123,941
(7,053
$ 204,049
1,777,469
$4,551,179
48
SPECIAL REVENUE FUNDS
These funds are used to account for revenues from specific taxes or other ear-
marked 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 pro-
ceeds 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.
BUILDING 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 not - for - profit community organizations.
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING BALANCE
SHEET
'
June 30, 1987
with
comparative totals
for 1986
i
IR
k
Fire and Road Service
Fire
District
Road
'
Women's
Monashka
District
Women's
ASSETS
Land Sales
Area 1
Bay
Bay
One
Bay
Equity in central treasury
$ 409,768
$ -
$25,913
$7,066
$31,374
$18,974
,
Temporary investments
1,568,379
500,000
-
-
-
-
Other cash balances
-
-
-
-
-
-
Receivables:
State of Alaska
-
-
-
-
-
-
Federal government
-
-
-
-
-
-
Land sales contract, due
within one year
297,696
-
-
-
-
-
Accrued interest
101,787
-
Other
18,032
-
-
-
-
-
Allowance for doubtful receivables
(18,252)
-
-
-
-
-
E
Inventories
-
-
-
-
-
-
Prepaids
-
2,208
1,104
-
-
-
Land sales contracts receivable,
,
due after one year
2,090,860
-
-
-
-
-
i
$4,468,270
$502,208
$27,017
$7,066
$31,374
$18,974
LIABILITIES AND FUND BALANCES (DEFICITS
`
a
Liabilities:
Bank overdraft
$ -
$ -
$ -
$ -
$
Advance from central treasury
-
226,342
-
-
-
-
Accounts payable
-
486
424
59
-
-
Salaries payable
-
-
-
-
-
-
Payroll taxes accrued and withheld
-
-
Employee benefits accrued and withheld
-
94
-
-
-
-
Other accrued liabilities
-
-
-
Customer deposits
-
-
300
-
-
-
Deferred and unrealized revenues
2,388,555
-
-
Due to other funds
-
-
-
-
-
-
Total liabilities
2,388,555
226,922
724
59
-
-
Fund balances (deficits):
Reserved for encumbrances
-
-
-
150
-
-
'
Reserved for fuel inventory
-
-
-
-
-
-
Unreserved:
Designated for subsequent
year expenditures
-
-
-
-
-
-
,
Undesignated
2,079,715
275,286
26,293
6,857
31,374
18,974
Total fund balances (deficits)
2,079,715
275,286
26,293
7,007
31,374
18,974
$502,208
$27,017
$7,066
$31,374
$18,974
'
$4,468,270
i
1
49
Federal and State Grant Programs
Schedule 4
- - 200 - - 175,327
- - - 72,166
1,700 177,377 141,602
- 72,166 62,098
3 327,203 500,000
(1,223 91,973 211,092 - 401 51,2 -
(50,751 2,741,209 3,618,925
(1,223 91,973 211,292 - 401 625,914 (49,051 3,317,955 4,322,625
$ $91,973 $217,245 $ $12,328 $2,253,648 $281,458 $7,911,561 $8,503,526
50
Federal
Mental
Buildings
Totals
Bay View
Revenue
Health
and
Road
Sharing
Center
Energy
Day Care
Education
Grounds
1987
1986
$ _
$91,973
$ 21,937
$ _
$ 292
$1,551,770
$ _
$2,159,067
$2,755,027
2,068,379
2,000,000
-
-
100
-
35,120
-
35,220
31,079
56,173
_
12,036
420,489
_
48
495,651
344,845
-
-
-
-
-
-
-
297,696
251,261
-
_
101,787
88,420
-
_
148,475
-
-
2,873
169,380
196,617
(37,359)
_
_
-
_
(55,611)
(26,500)
225,172
225,172
224,616
27,919
=
=
18,224
281,458
330,913
29,805
-
2,090,860
2,112,705
$ -
$91,973
$217,245
$ -
$12,328
$2,253,648
$281,458
$7,911,561
$8,503,526
_
$ _
$ _
S
83,404
1,223
_
321,766
549,331
5,610
-
-
5,347
-
11,927
101,944
8,743
128,930
125,700
-
-
-
-
-
779,072
-
779,072
823,977
-
_
_
510,955
_
510,955
316,615
606
103,895
104,595
172,821
'
-
-
-
-
-
-
160,110
-
-
-
-
-
-
300
300
80,064
_
2,468,619
2,416,662
51,804
51,804
75,702
1,223
-
5,953
-
11,927
1,627,734
330,509
4,593,606
4,180,901
- - 200 - - 175,327
- - - 72,166
1,700 177,377 141,602
- 72,166 62,098
3 327,203 500,000
(1,223 91,973 211,092 - 401 51,2 -
(50,751 2,741,209 3,618,925
(1,223 91,973 211,292 - 401 625,914 (49,051 3,317,955 4,322,625
$ $91,973 $217,245 $ $12,328 $2,253,648 $281,458 $7,911,561 $8,503,526
50
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES (DEFICITS)
Year ended June 30, 1987
with comparative totals for 1986
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
Operating transfers from other funds
Operating transfers to other funds
Net operating transfers
Excess (deficiency) of revenues
and transfers from other funds
over expenditures and transfers
to other funds
Fund balances at beginning of year
Adjustments to reserve for fuel inventory
Fund balances (deficits) at end of year
Fire and Road Service District '
Fire Road
Women's Monashka District Women's
Land Sales Area 1 Bay Bay One Bay
$ - $130,998 $11,179 $18,892
- 26,746 2,977 5,087
493,230 - - -
34,816 9,505 5,500 -
158,711 15,261 -
686,757 182,510 19,656 23,979
2,433 - - -
- 91,255 19,303 -
22,682 16,046 7,104 -
- - - 25,113
25,115 107,301 26,407 25,113
$ 21,670 $13,164
1,655 21,782
10,000
23,325 44,946
40,838 29,251
40,838 29,251
661,642 75,209 (6,751 (1,134 (17,513 15,695
- 1,070 - - - - ,
(1,052,300 - - - - -
(1,052,300 1,070 - - - -
(390,658)
76,279
(6,751)
(1,134)
(17,513)
15,695
2,470,373
199,007
33,044
8,141
48,887
3,279
$ 2,079,715
$275,286
$26,293
$ 7,007
$ 31,374
$18,974
I �,
51 1
Schedule 5
'
Federal and State
Grant Programs
Buildings
Totals
Federal Mental
Bay View
Revenue
Health
and
Road
Sharing
Center
Energy
Day Care
Education
Grounds
1987
1986
'
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 195,903
$ 162,504
-
-
624,887
7,146
168,256
11,396,012
-
18,254,548
20,958,760
-
38,228
-
-
-
582,850
-
621,078
977,994
_
-
=
_
-
-
493,230
535,223
_
335,927
261,339
-
657,087
577,100
-
6,104
18,104
-
-
-
277,456
475,636
460,225
Y '
-
44,332
978,918
7,146
168,256
18,240,201
277,456
20,697,482
23,671,806
-
-
-
7,146
-
-
-
9,579
58,415
3
-
94,100
1,028,480
-
168,682
-
-
1,291,262
1,273,217
-
14,500
-
-
-
15,147,496
-
15,161,996
16,031,440
-
45,400
-
-
-
-
651,060
807,018
471,591
-
_
_
_
_
_
_
45,832
140,331
1,223
96,425
135,062
1,223
154,000
1,028,480
7,146
168,682
15,147,496
651,060
17,412,112
18,110,056
(1,223
(109,668
(49,562
-
(426
3,092,705
(373,604 )
3,285 370
5,561,750
80,000
_
_
1,999,492
163,100
2,243,662
1,356,610
(9,353
(5,482,117
(6,543,770
(7,068,711
-
-
70,647
-
-
(3,482,625
163,100
(4,300,108
(5,712,101
(1,223)
(109,668)
21,085
-
(426)
(389,920)
(210,504)
(1,014,738)
(150,351)
i -
201,641
190,207
-
827
1,005,766
161,453
4,322,625
4,482,878
-
-
-
-
-
10,068
-
10,068
(9,902
'
$(1,223
$ 91,973
$ 211,292
$ -
$ 401
$ 625,914
$ (49,051
$ 3,317,955
$ 4,322,625
52
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
LAND SALES
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
Revenues:
Land sales proceeds
Penalty and interest
Permit fees
Investment income
Gravel sales
Total revenues
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$ 450,900 $ 493,230
1,100
1,262
10,000
10,025
110,000
158,711
60,000
23,529
632,000 686,757
Expenditures:
Capital improvement -
general:
Survey and appraisal 80,500 9,132
Support costs - 13,550
Planning and community
development:
Land management 1,378,910 2,433
Total expenditures 1,459,410 25,115
Excess (deficiency) of
revenues over expenditures (827,410)
Transfers to other funds 1,067,590
Excess (deficiency) of
revenues over expenditures
and transfers to other funds (1,895,000)
Fund balance at beginning
661,642
1,052,300
$ 42,330
162
25
48,711
(36,471
54,757
71,368
(13,550)
1,376,477
1,434,295
1,489,052
15,290
(390,658) 1,504,342
of
year
2,470,373
2,470,373
Fund
balance at end of year
$ 575,373
$2,079,715
$1,504,342
$ 535,223
1,805
15,000
112,026
89,313
753,367
139,787
100
1,569
141,456
611,911
844,984
(233,073)
2,703,446
$2,470,373
53
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, 1987
with comparative figures for 1986
Schedule 7
54
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
Revenues:
Property taxes
$110,800
$130,998
$20,198
$110,437
State shared revenue
24,010
26,746
2,736
19,248
Licenses, permits, fees
and other local revenues
9,000
9,505
505
9,018
Investments and property
5,190
15,261
10,071
15,252
Total revenues
149,000
182,510
33,510
153,955
Expenditures:
Capital improvements:
General
20,000
16,046
3,954
200
General services
134,000
96,255
37,745
97,427
Total expenditures
154,000
112,301
41,699
97,627
Less charged to federal
revenue sharing
5,000
5,000
-
5,000
Net expenditures
149,000
107,301
41,699
92,627
Excess of revenues
over expenditures
-
75,209
75,209
61,328
Transfers from (to) other funds
-
1,070
1,070
(6,263
Excess of revenues and transfers
from other funds over expen-
ditures and transfers to
other funds
-
76,279
76,279
55,065
Fund balance at beginning
of year
199,007
199,007
-
143,942
Fund balance at end of year
$199,007
$275,286
$76,279
$199,007
54
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, 1987
with comparative figures for 1986
Schedule 8
55
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
Revenues:
Property taxes
$11,180
$11,179
$ (1)
$19,368
State shared revenue
2,000
2,977
977
1,417
Licenses, permits, fees
and other local revenues
7,200
5,500
(1,700
8,400
Total revenues
20,380
19,656
(724
29,185
Expenditures - general
services:
Office supplies
1,200
88
1,112
508
Telephone and telegraph
300
437
(137)
363
Insurance and bonding
9,000
14,099
(5,099)
8,211
Repairs and maintenance
1,500
882
618
863
Utilities
6,500
4,036
2,464
5,274
Capital outlay
4,600
7,104
(2,504)
244
Other
6,500
4,761
1,739
2,827
Total expenditures
29,600
31,407
(1,807)
18,290
Less charged to federal
revenue sharing
5,000
5,000
-
5,000
Net expenditures
24,600
26,407
(1,807
13,290
Excess (deficiency) of
revenues over expenditures
(4,220)
(6,751)
(2,531)
15,895
Fund balance at beginning
of year
33,044
33,044
-
17,149
Fund balance at end of year
$28,824
$26,293
$(2,531
$33,044
55
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD
MONASHKA BAY
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
Revenues:
Property taxes
State shared revenue
Total revenues
Expenditures - service
district maintenance
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance (deficit)
at end of year
1987
Variance
Favorable
Budget Actual ( Unfavorable )
$ 18,900 $18,892
6,000 5,087
24,900 23,979
$ (
(913
(921
37,810 25,113
Schedule 9
1986
Actual
$16,886
7,312
24,198
12,697 28,110
(12,910)
(1,134) 11,776
(3,912)
8,141
8,141 -
12,053
$ (4,769
$ 7,007 $11,776
$ 8,141
56
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, 1987
with comparative figures for 1986
Schedule 10
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
Revenues:
Property taxes
$ 21,670
$ 21,670
$ -
$13,661
State shared revenue
11,570
1,655
(9,915
11,819
Total revenues
33,240
23,325
(9,915
25,480
Expenditures - capital
improvements - service
district maintenance:
Salaries
720
1,133
(413)
1,887
Repairs and maintenance
25,000
21,663
3,337
-
Contracted services
24,000
17,810
6,190
18,286
Other
200
232
(32
268
Net expenditures
49,920
40,838
9,082
20,441
Excess (deficiency) of
revenues over expenditures
(16,680)
(17,513)
(833)
5,039
Fund balance at beginning
of year
48,887
48,887
-
43,848
Fund balance at end of year
$ 32,207
$ 31,374
$ (833
$48,887
57
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, 1987
with comparative figures for 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
Net expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance (deficit) at
end of year
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$ 13,155 $13,164 $ 9 $ 2,152
28,000 21,782 (6,218) 28,749
10,000 10,000 - 5,000
51,155 44,946 (6,209 35,901
300
460
(160)
596
300
56
244
137
84,500
28,691
55,809
85,763
900
44
856
15
86,000
29,251
56,749
86,511
(34,845)
15,695
50,540
(50,610)
3,279
3,279
-
53,889
$(31,566
$18,974
$50,540
$ 3,279
58
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
BAY VIEW ROAD SERVICE DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
Revenues
Expenditures:
Staff salaries
Rent
Advertising /hearings
Snow removal /sanding
Total expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance (deficit) at
end of year
Schedule 12
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
- 245 (245) -
- 16 (16) -
- 68 (68) -
- 894 (894 -
- 1,223 (1,223 -
- (1,223) (1,223) -
$ - $(1,223 $(1,223
59
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, 1987
with comparative figures for 1986
Revenues:
Federal shared revenue
entitlement payments
Investment income
Total revenues
Expenditures:
Health and sanitation
contributions:
Women's Resource
Crisis Center
Council on Alcoholism
Small World Center
Senior citizen support
Health center
American Red Cross
Mental Health Center
Respite care
Education contributions:
Kodiak Community College
Head Start Program
General services:
Kodiak Historical Society
Alaska Legal Services
Kodiak Art Council
Special Olympics
Women's Bay Fire District
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
Schedule 13
15,000
1987
14,000
22,000
22,000 -
22,000
Variance
20,000 -
22,400
20,000
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
$ 4,000
$ 38,228
$34,228
$182,362
5,000
6,104
1,104
2,882
9,000
44,332
35,332
185,244
15,000
15,000 -
14,000
22,000
22,000 -
22,000
20,000
20,000 -
22,400
20,000
20,000 -
14,000
1,600
1,600 -
-
2,500
2,500 -
2,000
10,000
10,000 -
10,000
3,000
3,000 -
-
5,000
5,000 -
6,000
9,500
9,500 -
3,600
2,900
2,900 -
3,500
20,000
20,000 -
18,000
7,500
7,500 -
6,000
3,000
3,000 -
-
5,000
5,000 -
5,000
5,000
5,000 -
5,000
2,000
2,000 -
2,500
154,000
154,000 -
134,000
(145,000)
(109,668) 35,332
51,244
201,641
201,641 -
150,397
$ 56,641
$ 91,973 $35,332
$201,641
60
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, 1987
with comparative figures for 1986
Schedule 14
Continued
61
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
Revenues:
State sources:
Grant $
195,700
$ 195,700
$ -
$233,900
Shared revenue
333,714
331,072
(2,642)
316,230
CSP grants
110,600
98,115
(12,485)
107,413
Organization user fees
147,180
176,777
29,597
150,512
Individual user fees
157,290
158,263
973
144,811
Rental fees
12,000
12,000
-
12,000
Interest
12,000
6,104
(5,896)
15,252
Miscellaneous
500
887
387
1,957
Total revenues
968,984
978,918
9,934
982,075
Expenditures - health and
sanitation - mental
health program:
Personnel
801,495
749,626
51,869
716,433
Travel
10,500
18,246
(7,746)
20,044
Facility
44,795
52,713
(7,918)
44,821
Supplies
44,209
47,559
(3,350)
89,940
Equipment
26,660
23,816
2,844
14,169
Other
151,325
118,390
32,935
95,149
Bad debts
-
28,130
(28,130
10,985
1,078,984
1,038,480
40,504
991,541
Less charged to federal
revenue sharing
10,000
10,000
-
10,000
Net expenditures
1,068,984
1,028,480
40,504
981,541
Excess (deficiency) of
revenues over expenditures
(100,000
(49,562
50,438
534
Transfers from other funds
80,000
80,000
-
60,000
Transfers to other funds
-
(9,353
(9,353
(55,498
Net transfers
80,000
70,647
(9,353
4,502
Continued
61
Schedule 14 (Continued
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
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
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
1987
Variance
Favorable
Budget Actual ( Unfavorable )
$ (20,000) $ 21,085
190,207 190,207
$ 170,207 $ 211,292
1986
Actual
$ 41,085 $ 5,036
$ 41,085
185,171
$190,207
62
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, 1987
with comparative figures for 1986
Revenues:
State sources:
Community and regional
affairs grant 1986
Community and regional
affairs grant 1985
Total revenues
Expenditures - planning and
community development:
Ordinance update
Planning and zoning
Total expenditures
Excess of revenues
over expenditures
Fund balance at beginning
of year
Fund balance at end of year
Schedule 15
W
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
$7,146
$7,146
$ -
$ 24,854
-
-
-
31,992
7,146
7,146
-
56,846
-
-
-
31,992
7,146
7,146
-
24,854
7,146
7,146
-
56,846
W
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, 1987
with comparative figures for 1986
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
Revenues from State
of Alaska
$169,642
$168,256
$(1,386)
$207,762
Expenditures - day care
payments
169,642
168,682
960
207,276
Excess of revenues
over expenditures
-
(426)
(426)
486
Fund balance at beginning
of year
827
827
-
341
Fund balance at end
of year
$ 827
$ 401
$ (426
$ 827
64
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
EDUCATION
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
Revenues:
State sources
Federal sources
Food sales
Pupil activities
Other local revenues
Total revenues
Schedule 17
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$17,835,974 $17,396,012
895,670
582,850
92,150
86,435
9,300
5,113
188,873
169,791
19,021,967 18,240,201
$(439,962)
(312,820)
(5,715)
(4,187)
(19,082)
(781,766
Expenditures:
Regular instruction
Vocational education
instruction
Correspondence study
instruction
Special education
instruction
Bilingual /bicultural
education instruction
Supporting services -
pupils
Supporting services -
instruction
General support services
Operation and maintenance
Pupil transportation
Food services
Community services
Pupil activities
Total expenditures
Excess of revenues over
expenditures
Transfers from other funds
Transfers to other funds
Net transfers
Continued
6,388,145 6,167,304
674,455
708,658
110,156
109,363
1,232,550
1,178,924
134,574
152,242
803,732 822,375
688,424
644,054
1,923,673
2,048,523
2,640,337
2,394,558
437,402
428,581
265,798
227,874
68,590
54,789
231,654
210,251
15,599,490 15,147,496
220,841
(34,203)
793
53,626
(17,668)
(18,643)
44,370
(124,850)
245,779
8,821
37,924
13,801
21,403
451,994
$19,968,064
795,632
99,910
6,495
44,879
20,914,980
5,954,843
765,569
110,616
1,176,791
152,168
831,484
1,022,994
2,051,277
2,871,177
412,290
285,216
100,313
287,102
16,021,840
3,422,477
3,092,705
(329,772
4,893,140
2,043,834
1,999,492
(44,342)
1,270,000
(6,054,104
(5,482,117
571,987
(6,161,966
(4,010,270
(3,482,625
527,645
(4,891,966
65
Schedule 17 (Continued
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
EDUCATION
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Excess (deficiency) of
revenues and transfers
from General Fund over
expenditures and
transfers to School
Bond Debt Service Fund
Fund balance at beginning
of year
Adjustment to reserve for
fuel inventory
Fund balance at end of year
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$ (587,793 $ (389,920) $ 197,873
1,005,766
10,068
$ 625,914
$ 1,174
1,014,494
(9,902
$ 1,005,766
W
KODIAK ISLAND BOROUGH Schedule 18
SPECIAL REVENUE FUNDS
BUILDINGS AND GROUNDS
STATEMENT OF REVENUES, EXPENDITURES AND ' F
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
Revenues:
Fines and forfeitures $ - $ - $ - $ 200
Rental 284,710 277,456 (7,254) 283,639
Sales of property
and equipment 6,880 - (6,880) -
Interest income 10,000 - 1( 0,000 18,974
Total revenues 301,590 277,456 (24,134 302,813
Expenditures:
School buildings
375,000
368,519
6,481
-
Borough building
285,680
211,500
74,180
269,775
Apartments
43,500
46,021
(2,521)
37,824
Refuse collection
and disposal
22,300
20,157
2,143
14,610
Parks operation
and maintenance
6,000
4,863
1,137
3,909
Total expenditures
732,480
651,060
81,420
326,118
Excess (deficiency) of
revenues over expenditures
(430,890)
(373,604)
57,286
(23,305)
Transfers from General Fund
163,100
163,100
-
26,610
Excess (deficiency) of
revenues and transfers
from General Fund over
expenditures
(267,790)
(210,504)
57,286
3,305
Fund balance at beginning
of year
161,453
161,453
-
158,148
Fund balance (deficit)
at end of year
$(106,337
$ (49,051
$ 57,286
$161,453
67
DEBT SERVICE FUND
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 which matured on 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 por-
tion of the Borough's vested accrued annual leave.
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
June 30, 1987
with comparative figures for 1986
ASSETS
Cash and investments:
Equity in central
treasury
Temporary cash
investments
Cash with fiscal agent
Receivable from
State of Alaska
Accrued interest
receivable
Hospital School
Bond Bonds
$ - $ - $144,215 $ 144,215 $ 782,426
6,221,603 - 6,221,603 4,650,000
- 1,462,905 - 1,462,905 2,428,664
- 244,517 - 244,517 -
95,236 - 95,236 83,727
$ - $8,024,261 $144,215 $8,168,476 $7,944,817
Totals
Other 1987 1986
LIABILITIES AND FUND BALANCES
Advance from central
treasury $ - $ 744,969 $ - $ 744,969 $ 39,381
Fund balances - designated
for subsequent year
expenditures - 7,279,292 144,215 7,423,507 7,905,436
$ - $8,024,261 $144,215 $8,168,476 $7,944,817
W.
Schedule 20
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
Year ended June 30, 1987
with comparative figures for 1986
Hospital School
Bond Bonds
Revenues from interest
income
Expenditures - debt
service:
Principal
Interest
Fiscal agent fees
Other
Total expen-
ditures
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
Board Improve-
ments Capital
Projects Fund
Hospital Debt
Service Fund
Continued
Totals
Other 1987
$ 18,313 $ 412,578 $ - $ 430,891 $ 572,067
300,000 4,450,417
14,625 1,689,551
151 82,661
396 -
315,172 6,222,629
(296,859 (5,810,051
- 383,220
5,226,425
- 4,750,417 5,080,000
- 1,704,176 1,655,895
- 82,812 71,667
- 396 -
6,537,801 6,807,562
(6,106,910 (6,235,495
7,053 390,273
9,353 9,353
- 5,226,425
297,049
6,263
55,498
6,161,556
- - - 500,000
12,248 - 12,248 13,750
5,621,893 16,406 5,638,299 7,034,116
69
Schedule 20 (Continued
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Totals
70
Hospital
School
Bond
Bonds
Other
1987
1986
Transfers to other
funds:
Special Revenue
Fund:
Fire Service
District
Area 1
$ -
$ -
$ 1,070
$ 1,070
$ -
Debt Service
Fund
12,248
-
-
12,248
13,750
Net transfers
(12,248
5,621,893
15,336
5,624,981
7,020,366
Excess (deficiency)
of revenues and
transfers from
other funds over
expenditures and
transfers to
other funds
(309,107)
(188,158)
15,336
(481,929)
784,871
Fund balances at
beginning of year
309,107
7,467,450
128,879
7,905,436
7,120,565
Fund balances at
end of year
$ -
$ 7,279,292
$144,215
$ 7,423,507
$ 7,905,436
70
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
HOSPITAL BOND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
1987
Revenues from interest income
Expenditures - debt service:
Principal
Interest
Fiscal agent fees
Other
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 (deficit)
at end of year
Budget Actual
$ 17,500 $ 18,313
Variance
Favorable 1986
( Unfavorable ) Actual
$ 813 $ 25,044
300,000
300,000
-
-
7,320
14,625
(7,305)
14,625
500
151
349
123
-
396
(396
-
307,820
315,172
(7,352
14,748
(290,320)
(296,859)
(6,539)
10,296
9,680
12,248
(2,568
13,750
(300,000)
(309,107)
(9,107)
(3,454)
309,107
309,107
-
312,561
$ 9,107
$ -
$(9,107
$309,107
71
Sched 22
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
SCHOOL BONDS
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
1987
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
Revenues from interest
income
Expenditures - debt service:
Principal
Interest
Fiscal agent fees
Other
$ 400,000 $ 412,578 $ 12,578 $ 547,023
5,001,720 4,450,417
2,369,210 1,689,551
84,910 82,661
44,160 -
551,303
679,659
2,249
44,160
5,080,000
1,641,270
71,544
Total expenditures
7,500,000
6,222,629
Excess (deficiency) of
revenues over expenditures
(7,100,000
(5,810,051
Transfers from other funds:
General Fund
383,220
383,220
Education Special Revenue
Fund
4,970,000
5,226,425
Hospital Debt Service
Fund
9,680
12,248
1980 School Bond Improve-
ments Capital Projects
Fund
-
-
Total transfers from
other funds
Excess (deficiency) of
revenues and transfers
from other funds over
expenditures
Fund balance at beginning
of year
Fund balance at end of year
1,277,371
1,289,949
256,425
2,568
6,792,814
(6,245,791
286,690
6,161,556
13,750
500,000
5,362,900 5,621,893 258,993 6,961,996
(1,737,100) (188,158) 1,548,942
7,467,450 7,467,450 -
$ 5,730,350 $ 7,279,292 $1,548,942
716,205
6,751,245
$ 7,467,450
72
Schedule 23
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
OTHER DEBT SERVICE
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
1987
Transfers from other funds:
General Fund
Special Revenue Funds:
Fire Service District
Area 1
Mental Health Center
Transfers to other funds:
Special Revenue Funds:
Fire Service District
Area 1
Net transfers
Excess 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
Variance
Favorable 1986
Budget Actual ( Unfavorable ) Actual
$ - $ 7,053 $ 7,053 $ 10,359
- - - 6,263
9,353 9,353 55,498
16,406 16,406 72,120
- 1,070 (1,070 -
15,336 15,336 -
- 15,336
15,336
72,120
- 128,879
128,879
56,759
$ - $144,215
$144,215
1128,879
73
1
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.
SCHOOLS MAJOR MAINTENANCE
This fund accounts for money transferred from the Land Sales Fund for the
major repairs and maintenance of school buildings.
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
June 30, 1987
with comparative figures for 1986
ASSETS
Cash and investments:
Equity in central treasury
Temporary cash investments
Receivables:
City of Kodiak
Other
State of Alaska
Accrued interest
Due from other funds
Local
Service Various
Roads State School Borough
and Trails Construction Projects
S -
1,500,000
21,980
36,488
$1,558,468
LIABILITIES AND FUND BALANCES
Liabilities:
Advance from central treasury $ - $ - $ 616,280
Due to State of Alaska - '
Accounts payable - -
Retainages payable - -
Deferred revenue - - 203,213
Total liabilities - - 819,493
Fund balances (deficit):
Reserved for encumbrances - - 15,580
Unreserved - designated for
subsequent year expenditures - - 723,395
Total fund balances (deficit) - - 738,975
$1,558,468
74
Schedule 24
75
School
Equipment
State
School
Totals
School Bond
and
Capital
Major
Improvements
Furnishings
Grants
Maintenance
1987
1986
$2,037,768
$ -
$1,262,832
$ 3,591
$ 3,304,191
$ 1,822,966
7,284,936
-
-
1,000,000
9,784,936
12,976,100
-
-
175,000
-
175,000
-
-
-
268,242
-
268,242
169,241
-
-
391,902
-
413,882
346,769
149,564
-
-
3,457
189,509
66,351
-
52,023
-
-
52,023
78,440
$9,472,268
$52,023
$2,097,976
$1,007,048
$14,187,783
$15,459,867
$ -
$ -
$ -
$ -
$ 616,280
$ -
-
-
-
-
-
1,650
-
1,092
467,629
-
468,721
796,216
70,771
-
226,674
-
297,445
379,331
-
-
1,194,520
-
1,397,733
1,966,312
70,771
1,092
1,888,823
-
2,780,179
3,143,509
2,556,117
4,381
328,319
-
2,904,397
4,358,597
6,845,380
46,550
(119,166
1,007,048
8,503,207
7,957,761
9,401,497
50,931
209,153
1,007,048
11,407,604
12,316,358
$9,472,268
$52,023
$2,097,976
$1,007,048
$14,187,783
$15,459,867
75
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
Year ended June 30, 1987
with comparative figures for 1986
Revenues:
State sources
Federal sources
Investments and property
Licenses, fees, permits and
other local 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
Residual equity transfer
Fund balances (deficit) at end of year
Local
Service
Roads
and Trails
35,533
(35,533
Various
State School Borough
Construction Projects
$ - $ 88,166
85,198
173,364
1,150,100
1,150,100
(976,736
255,590
255,590
- (721,146)
243,757 1,424,588
(243,757 35,533
$ - $ 738,975
76
Schedule 25
1,264,951 39,105 7,922,433 - 9,226,489 3,762,396
- - - - 1,150,100 5,145,435
- - - - 1,483
1,264,951 39,105 7,922,433 - 10,376,589 8,909,314
(669,465
School
(232,240
7,048
(1,885,498
(3,334,536
Equipment
State
School
Totals
-
School Bond
and
Capital
Major
-
-
Improvements
Furnishings
Grants
Maintenance
1987
1986
$ -
$ 25,000
$ 6,306,033
$ -
$ 6,419,199 $
4,606,720
-
-
311,639
-
311,639
63,361
595,486
-
65,228
7,048
752,960
578,525
-
-
1,007,293
-
1,007,293
326,172
595,486
25,000
7,690,193
7,048
8,491,091
5,574,778
1,264,951 39,105 7,922,433 - 9,226,489 3,762,396
- - - - 1,150,100 5,145,435
- - - - 1,483
1,264,951 39,105 7,922,433 - 10,376,589 8,909,314
(669,465
(14,105
(232,240
7,048
(1,885,498
(3,334,536
-
-
-
-
-
9,668,184
-
-
-
-
-
375,000
25,000
13,000
117,519
1,000,000
1,411,109
1,615,544
(56,090
(25,000
(334,809
-
(415,899
(1,200,000
(31,090
(12,000
(217,290
1,000,000
995,210
10,458,728
(700,555)
(26,105)
(449,530)
1,007,048
(890,288)
7,124,192
9,939,242
77,036
596,202
-
12,316,358
5,192,166
162,810
-
62,481
-
(18,466
-
$9,401,497
$ 50,931
$ 209,153
$1,007,048
$11,407,604
$12,316,358
77
KODIAK ISLAND BOROUGH ,
CAPITAL PROJECTS FUNDS
SCHEDULE OF CAPITAL PROJECTS
For the year ended June 30, 1987 '
Appropriations
Transfers (to) from
Other
Other
Total
'
Project
Prior
1987
Projects
Funds
Appropriation
Schools:
44 -202 Work of Art- Auditorium
$ -
$ -
$ -
S 33,090
$ 33,090
44 -253 Asbestos Removal Program
-
50,000
(9,000)
-
41,000
44 -278 Landscaping
-
-
-
10,000
10,000
45 -245 School Auditorium
10,428,912
113,130
(507,872)
(43,090)
9,991,080
E
45 -249 Maintenance Shop
1,689,000
-
(99,210)
149,810
1,739,600
t
45 -283 Handicap Code Roof
-
-
974,121
-
974,121
45 -284 Larsen Bay School
-
-
1,704,712
25,000
1,729,712
'
c
45 -285 Peterson Elementary
-
-
564,990
-
564,990
45 -286 East Elementary School
-
-
2,917,525
-
2,917,525
45 -286 Projects - 86 Bonds
9,668,184
-
(9,668,184)
-
-
45 -287 Old Harbor School
-
-
1,753,418
-
1,753,418
45 -288 Port Lions School
-
-
1,753,418
-
1,753,418
'
47 -183 School Crossing Lights
165,000
-
-
(4,790)
160,210
47 -195 School Upgrade
169,000
-
-
-
169,000
47 -203 Bast Elementary Ballfield
-
40,980
-
-
40,980
47 -248 High School Track
-
300,000
-
-
300,000
47 -253 Asbestos Removal Program
2,750,000
-
65,000
-
2,815,000
'
N/A School Equipment
211,799
25,000
-
(12,000)
224,799
Park Improvements:
44 -254 Park Development
145,000
40,000
-
-
185,000
t
Road Projects:
42 -148 Sawmill - Lakeview
106,340
-
(19,385)
-
86,955
44 -201 Sergeant Creek Road
940,000
-
(156,000)
35,533
819,533
44 -281 Chiniak Subdivision
700,000
-
-
-
700,000
47 -192 Women's Bay Paving
-
-
156,000
-
156,000
47 -194 Area Wide Roads
874,680
-
(49,233)
-
825,447
47 -247 Lilly Dry - Phase I
740,000
-
-
-
740,000
47 -255 Lakeside Improvement
2,747,200
-
-
-
2,747,200
47 -257 Lilly Dry - Phase II
923,000
-
49,233
-
972,233
47 -266 Antone Balika Melnitsa
595,000
-
-
-
595,000
Other:
44 -133 Borough Bldg Roof
200,000
-
9,000
-
209,000
44 -191 Land Disposal FY -85
60,000
-
-
-
60,000
44 -315 Bayside Fire Equipment
-
-
7,200
-
7,200
44 -323 Ouzlnkie Fisheries
-
9,850
-
-
9,850
'
47 -158 Emergency Medical Services
92,313
32,000
-
-
124,313
47 -159 Akhiok Medical Clinic
149,417
-
-
-
149,417
47 -187 Hospital Construction
123,810
800,000
-
-
923,810
47 -188 Hospital Equipment
132,600
25,000
-
-
157,600
47 -189 Hospital Design Dev
1,000,000
-
-
-
1,000,000
47 -208 State Fairgrounds
-
84,567
-
-
84,567
47 -211 Karluk Fire Equipment
-
100,000
-
-
100,000
47 -242 Karluk Lake Fertilization
-
60,000
-
-
60,000
47 -259 Karluk Electric System
360,000
8,160
-
-
368,160
47 -260 Village Projects
300,000
-
-
-
300,000
,
47 -263 Solid Waste Facility
2,780,000
175,000
-
180,000
3,135,000
47 -271 Karluk Public Building
100,000
-
26,100
-
126,100
47 -274 Akhiok Equipment Shed
100,000
-
-
-
100,000
47 -316 Larsen Bay Landfill
100,000
-
-
-
100,000
'
47 -206 Akhiok Landfill
100,000
-
-
-
100,000
47 -212 Akhiok Generator Repair
-
44,000
-
-
44,000
47 -258 Akhiok Airport Road
560,000
-
-
-
560,000
47 -267 Akhiok Bldgs KIH -KIB
-
183,185
-
-
183,185
47 -275 Akhiok Water Supply Dam
180,000
-
-
-
180,000
'
Total other Akhiok projects
840,000
227,185
-
-
1,067,185
Undesignated:
42 -209 Undesignated Projects
35,533
20,000
19,385
(74,918)
-
43 -209 Undesignated Projects
243,757
-
-
(243,757)
-
,
44 -209 Undesignated Projects
-
12,150
(7,200)
39,385
44,335
45 -209 Undesignated Projects
(953,826)
298,500
607,082
-
(48,244)
47 -209 Undesignated Projects
Total Capital Projects
1,071,764
7,175
(91,100
$ -
(117,519
S (23,256
870,320
$41,993,924
'
$2,428,697
$39,588,483
'
78
Schedule 26
Expenditures
333,447 761,892 (28,154) -
(28,154)
- - 44,335 -
44,335
Unencumbered
(48,244)
419 6,029 863,872 -
Unexpended
Current
Balance
Prior
1987
Balance
Encumbrances
(Available)
$ -
$ -
$ 33,090
S -
$ 33,090
-
41,000
-
-
-
-
-
10,000
-
10,000
9,901,120
89,960
-
-
-
1,136,720
602,880
-
-
-
-
-
974,121
-
974,121
-
85,305
1,644,407
-
1,644,407
-
-
564,990
-
564,990
-
188,741
2,728,784
2,556,117
172,667
-
117,070
1,636,348
-
1,636,348
-
180,995
1,572,423
-
1,572,423
159,283
927
-
-
-
155,287
13,713
-
-
-
-
37,071
3,909
-
3,909
-
77,523
222,477
-
222,477
876,722
1,859,880
78,398
-
78,398
134,763
39,105
50,931
4,381
46,550
38,319
136,835
9,846
-
9,846
86,955
-
-
-
-
4,042
732,245
83,246
15,580
67,666
1,642
622
697,736
-
697,736
-
152,512
3,488
-
3,488
731,566
35,144
58,737
-
58,737
316,520
-
423,480
-
423,480
630,959
1,335,907
780,334
-
780,334
28,520
13,066
930,647
-
930,647
468,626
1,978
124,396
-
124,396
4,500
204,500
-
-
-
37,302
22,698
-
-
-
-
7,200
-
-
-
-
5,000
4,850
-
4,850
-
-
124,313
-
124,313
104,752
44,665
-
-
-
-
495,000
428,810
-
428,810
117,422
40,178
-
-
-
55,181
338,029
606,790
328,319
278,471
-
84,567
-
-
-
-
-
100,000
-
100,000
-
43,189
16,811
-
16,811
360,000
8,160
-
-
-
275,705
24,295
-
-
-
760,177
2,414,057
(39,234)
-
(39,234)
-
109,334
16,766
-
16,766
70,825
29,175
-
-
-
103,857
(3,857)
-
-
-
333,447 761,892 (28,154) -
(28,154)
- - 44,335 -
44,335
- - (48,244) -
(48,244)
419 6,029 863,872 -
863,872
$16,894,631 $10,376,590 $14,722,703 $2,904,397
$11,818,306
79
ASSETS
s
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
E
COMBINING BALANCE SHEET
'
June 30, 1987
with comparative figures for 1986
ASSETS
Water
Totals
E
Sanitary
and Sewer
Landfill
Utility
Hospital
1987
1986
Current assets:
Equity in central treasury
$ -
$ 160,839
$ -
$ 160,839
$ 147,928
Other cash balances
-
-
-
-
56,448
'
-
160,839
-
160,839
204,376
Receivables:
Lutheran Hospitals and
,
Homes Society of America
-
-
306,774
306,774
295,984
City of Kodiak
-
-
4,073
4,073
9,352
Third party patient payors
-
-
116,621
116,621
628,349
Customers and patients
17,797
54,105
1,116,214
1,188,116
1,250,207
State subsidy
-
-
93,750
93,750
-
R
17,797
54,105
1,637,432
1,709,334
2,183,892
Less allowance for
doubtful receivables
-
9,283
115,000
124,283
119,283
Net receivables
17,797
44,822
1,522,432
1,585,051
2,064,609
Inventories at cost
-
-
146,244
146,244
-
134,374
12,330
'
Prepaid expenses
-
-
-
Total current assets
17,797
205,661
1,668,676
1,892,134
2,415,689
Restricted assets:
,
Equity in central treasury
-
119,057
-
119,057
-
Temporary investments
-
750,000
-
750,000
3,850,000
Accrued interest receivable
-
-
-
-
7,042
Receivable from State of Alaska
-
220,000
-
220,000
-
'
Total restricted assets
-
1,089,057
-
1,089,057
3,857,042
Borough designated investment
-
-
760,134
760,134
-
Long -term receivable from
Lutheran Hospitals and
Homes Society of America
-
-
1,118,000
1,118,000
820,000
-
-
1,878,134
1,878,134
820,000
Property, plant and equipment,
at cost:
Unclassified utility plant
'
in service
-
10,489,226
-
10,489,226
10,560,618
Hospital building and
fixed equipment
-
-
3,984,773
3,984,773
3,950,226
Major movable equipment
-
-
1,448,765
1,448,765
1,265,640
'
-
10,489,226
5,433,538
15,922,764
15,776,484
Less accumulated depreciation
-
594,125
1,865,792
2,459,917
2,029,581
-
9,895,101
3,567,746
13,462,847
13,746,903
?
Construction work in progress
-
3,328,506
-
3,328,506
1,214,618
'
Net property, plant and equipment
-
13,223,607
3,567,746
16,791,353
14,961,521
j
$17,797
$14,518,325
$7,114,556
$21,650,678
$22,054,252
i
80
' ''
Schedule 27
LIABILITIES AND FUND EQUITIES
Payable from restricted assets:
Advance from central treasury - - - - 1,697,440
Contracts payable - 364,472 - 364,472 128,157
Retainage payable - 146,449 - 146,449 149,110
Unearned grant receipts - 3,364 3,364 1,4 0 5, 859
- 514,285 - 514,285 3,380,566
Total liabilities 7,745 544,763 256,886 809,394 3,610,827
Fund equities:
Water
Totals
Contributions in aid
Sanitary
and Sewer
of construction:
Landfill
Utility
Hospital
1987
1986
Liabilities:
229,166
State of Alaska
- 13,368,437
-
13,368,437
Payable from current assets:
Federal government
- 220,129
2,237,104
2,457,233
2,457,233
Bank overdraft
$ -
$ -
$ 9,710
$ 9,710 $
-
Advance from central treasury
2,601
-
-
2,601
-
Accounts payable
5,144
19,972
29,878
54,994
50,088
Customer deposits
-
10,506
-
10,506
6,720
Accrued compensation
-
-
191,523
191,523
168,641
Other accrued liabilities
-
-
25,775
25,775
4,812
7,745
30,478
256,886
295,109
230,261
Payable from restricted assets:
Advance from central treasury - - - - 1,697,440
Contracts payable - 364,472 - 364,472 128,157
Retainage payable - 146,449 - 146,449 149,110
Unearned grant receipts - 3,364 3,364 1,4 0 5, 859
- 514,285 - 514,285 3,380,566
Total liabilities 7,745 544,763 256,886 809,394 3,610,827
Fund equities:
Contributions in aid
of construction:
City of Kodiak
- 229,166
-
229,166
229,166
State of Alaska
- 13,368,437
-
13,368,437
11,325,941
Federal government
- 220,129
2,237,104
2,457,233
2,457,233
Kodiak Island Borough
- -
1,382,851
1,382,851
1,242,533
- 13,817,732
3,619,955
17,437,687
15,254,873
Less amortization of contributions
in aid of construction
- 592,095
-
592,095
395,018
Net contributions in
aid of construction
- 13,225,637
3,619,955
16,845,592
14,859,855
Retained earnings:
Undesignated 10,052 747,925 3,237,715 3,995,692 3,583,570
Total fund equities 10,052 13,973,562 6,857,670 20,841,284 18,443,425
$17,797 $14,518,325 $7,114,556 $21,650,678 $22,054,252
81
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
Year ended June 30, 1987
with comparative figures for 1986
Revenues:
Water sales
Sewer service charges
Sanitary landfill user fees
Patient revenues
Installation charges
Other
Total revenues
Operating expenses:
Personal services
Purchased water and sewer treatment
Contracted services
Repairs and maintenance
Depreciation
Installation costs
Professional care of patients
Plant operations and household
General administration
Other
Total operating expenses
Operating income (loss)
Other income:
Interest income
Other, primarily State of
Alaska revenue sharing
Net earnings (loss)
Amortization of contributions
in aid of construction
Increase in retained earnings
Retained earnings at beginning of year
Retained earnings at end of year
82
3,717
Water
-
-
and
-
Sanitary
Sewer
-
Landfill
Utility
Hospital
$ -
$ 156,901
$ -
-
184,762
-
158,942
-
-
-
-
5,009,194
-
94,463
-
-
6,753
92,435
158,942
442,879
5,101,629
3,717
47,179
-
-
235,781
-
144,933
1,680
-
-
24,989
-
-
199,107
247,306
-
76,641
-
-
-
2,483,452
-
-
875,788
-
-
1,538,427
240
22,668
-
148,890
608,045
5,144,973
10,052
(165,166
(43,344
-
95,900
-
- 317,603
- 95,900 317,603
10,052 (69,266) 274,259
- 197,077 -
10,052 127,811 274,259
- 620,114 2,963,456
$ 10,052 $ 747,925 $3,237,715
Totals
1987 1986
$ 156,901 $ 138,195
184,762
147,409
158,942
-
5,009,194
5,261,182
94,463
4,107
99,188
104,551
5,703,450 5,655,444
50,896
25,303
235,781
182,173
146,613
-
24,989
24,608
446,413
368,778
76,641
15,926
2,483,452
2,442,601
875,788
840,965
1,538,427
1,277,275
22,908
16,437
(198,458 461,378
95,900 110,497
317,603 321,638
215,045 893,513
197,077
142,919
412,122
1,036,432
3,583,570
2,547,138
$3,995,692
$3,583,570
83
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES
IN FINANCIAL POSITION
Year ended June 30, 1987
with comparative figures for 1986
Financial resources provided:
Net earnings (loss)
Depreciation which does not
use working capital
Working capital provided by operations
State of Alaska grants
Contribution from Kodiak Island Borough
General Fund for purchase of equipment
Reduction of long -term receivable
Total financial resources provided
Financial resources used:
Funding of Borough designated investments
Increase in long -term receivable
Acquisition of property, plant
and equipment
Total financial resources used
Increase (decrease) 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
Receivable from State of Alaska
Continued
Water
and
Sanitary Sewer
Landfill Utility Hospital
$10,052 $ (69,266) $ 274,259
- 199,107 247,306
10,052 129,841 521,565
- 2,042,496 -
140,318
10,052 2,172,337 661,883
760,134
- 298,000
2,042,496 233,749
2,042,496 1
$10,052 $ 129,841 $ (630,000
$ - $ - $ (56,448)
12,911 -
17,797 25,347 (522,702)
- - 11,870
- (12,330)
119,057 -
(3,100,000). -
(7,042) -
220,000 -
17,797 (2,729,727 (579,610
84
i'
Totals
1987 1986
$ 215,045
$ 893,513
446,413
368,778
661,458
1,262,291
2,042,496
2,849,812
140,318
5,526
- 65,000
2,844,272 4,182,629
760,134 -
298,000 -
2,276,245 3,032,034
3,334,379 3,032,034
$ (490,107 $ 1,150,595
$ (56,448)
$ 56,448
12,911
53,976
(479,558)
976,566
11,870
28,827
(12,330)
(9,171)
119,057
-
(3,100,000)
1,852,213
(7,042)
(45,909)
-
(1,000,000)
220,000
-
(3,291,540
1,912,950
85
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES
IN FINANCIAL POSITION
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
Increase (decrease) in:
Current liabilities payable from
current assets:
Advance from central treasury
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 (decrease) in working capital
Water
and
Sanitary Sewer
Landfill Utility Hospital
—
$ 2,601 $ - $ -
- - 9,710
5 2,927 (3,165)
- 3,786 -
- 43,845
- (1,697,440) -
- 236,315 -
- (2,661) -
- (1,402,495 -
7,745 (2,859,568 50,390
$10,052 $ 129,841 $ (630,000
m
Schedule 29 (Continued
Totals
1987 1986
$ 2,601 $
-
9,710
(28,708)
4,906
39,685
3,786
1,506
43,845
42,681
(1,697,440) 1,663,745
236,315 (356,983)
(2,661) 20,733
(1,402,495 (620,304
(2,801,433 762,355
n ii.on 1n7% n 1 icn cnc
87
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
BALANCE SHEET
June 30, 1987
with comparative figures for 1986
ASSETS
Current assets:
Equity in central treasury
Customer receivables
Less allowance for doubtful receivables
Net customer receivables
Total current assets
Restricted assets:
Equity in central treasury
Temporary investments
Accrued interest receivable
Receivable from State of Alaska
Total restricted assets
Property, plant and equipment:
Unclassified utility plant in service
Accumulated depreciation
Net utility plant in service
Construction work in progress
Net property, plant and equipment
1987 1986
$ 160,839
$ 147,928
54,105
28,758
9,283
9,283
44,822
19,475
205,661
167,403
119,057 -
750,000 3,850,000
- 7,042
220,000 -
1,089,057 3,857,042
10,489,226 10,560,618
594,125 395,018
9,895,101 10,165,600
3,328,506
1,214,618
13,223,607
11,380,218
$14,518,325
$15,404,663
M.
LIABILITIES AND FUND EQUITY
1987 1986
I
d
Liabilities:
Current liabilities:
Payable from current assets:
Accounts payable
Customer deposits
Total payable from current assets
Payable from restricted assets:
Advance from central treasury
Contracts payable
Retainage payable
Unearned grant receipts
Total payable from restricted assets
Total liabilities
Fund equity:
Contributions in aid of construction:
City of Kodiak
State of Alaska
Federal government
Accumulated amortization
Net contributions in aid of construction
Retained earnings:
Undesignated
Total fund equity
89
$ 19,972 $ 17,045
10,506 6,720
30,478 23,765
1,697,440
364,472
128,157
146,449
149,110
3,364
1,405,859
514,285
3,380,566
544,763 3,404,331
229,166
229,166
13,368,437
11,325,941
220,129
220,129
13,817,732
11,775,236
592,095
395,018
13,225,637 11,380,218
747,925 620,114
13,973,562 12,000,332
$14,518,325 $15,404,663
I i
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
Year ended June 30, 1987
with comparative figures for 1986
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
Automotive and travel
Office supplies and postage
Installation costs
Small tools
Total water
Continued
I �
90
S
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
$159,000
$ 156,901
$ (2,099)
$ 138,195
145,000
184,762
39,762
147,409
23,750
94,463
70,713
4,107
-
6,753
6,753
2,368
327,750
442,879
115,129
292,079
11,520
22,006
(10,486)
11,514
500
-
500
205
-
722
(722)
351
100,000
102,781
(2,781)
79,023
10,000
68,378
(58,378)
51,476
1,000
763
237
9,313
250
59
191
-
500
963
(463)
-
44,000
9,653
34,347
14,847
1,000
784
216
526
1,800
944
856
931
5,000
41,429
(36,429)
11,198
1,000
-
1,000
-
176,570
248,482
(71,912
179,384
I �
90
S
Schedule 31 (Continued
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1987
with comparative figures for 1986
91
1987
Variance
Favorable
1986
Budget
Actual
( Unfavorable )
Actual
Sewer:
Personal services
$ 18,000
$ 25,173
$ (7,173)
$ 13,789
Electric
4,000
14,397
(10,397)
1,419
Rent
-
769
(769)
270
Purchased sewer treatment
100,000
133,000
(33,000)
103,150
Depreciation
10,000
130,729
(120,729)
91,443
Training
1,000
763
237
2,366
Advertising and hearings
500
59
441
-
Repairs and maintenance
20,380
15,336
5,044
9,761
Contracted services
3,000
1,680
1,320
-
Automotive and travel
1,000
902
98
586
Office supplies and postage
-
-
-
470
Installation costs
2,000
35,212
(33,212)
4,728
Small tools
1,800
1,543
257
-
Total sewer
161,680
359,563
(197,883
227,982
Total operating expenses
338,250
608,045
(269,795
407,366
Operating loss
(10,500
(165,166
(154,666
(115,287
Other income (expense):
Interest income
70,500
95,900
25,400
110,497
Net earnings (loss)
60,000
(69,266)
(129,266)
(4,790)
Amortization of contributions
in aid of construction
-
197,077
197,077
142,919
Increase in retained earnings
$ 60,000
127,811
$ 67,811
138,129
Retained earnings at beginning
of year
620,114
481,985
Retained earnings at end of year
$ 747,925
$ 620,114
91
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended June 30, 1987
with comparative figures for 1986
Schedule 32
1 nO7 , -
Financial resources provided:
Net loss
$ (69,266)
$ (4,790)
Depreciation which does not
use working capital
199,107
142,919
Working capital provided by operations
129,841
138,129
State of Alaska grants
2,042
2,849,812
Total financial resources provided
2
2,987,941
Financial resources used - acquisition
of property, plant and equipment
2,042,496
2,849,813
Increase in working capital
$ 129,841
$ 138,128
Changes in components of working capital:
Increase (decrease) in:
Current assets:
Equity in central treasury
$ 12,911
$ 53,976
Customer receivables
25,347
(6,813)
Restricted assets:
Equity in central treasury
119,057
-
Temporary investments
(3,100,000)
1,852,213
Accrued interest receivable
(7,042)
(45,909)
Receivable from Lion Capital Group
-
(1,000,000)
Receivable from State of Alaska
220,000
-
(2,729,727
853,467
Current liabilities:
Payable from current assets:
Accounts payable
2,927
6,642
Customer deposits
3,786
1,506
Payable from restricted assets:
Advance from central treasury
(1,697,440)
1,663,745
Contracts payable
236,315
(356,983)
Retainage payable
(2,661)
20,733
Unearned grant receipts
(1,402,495
(620,304
(2,859,568
715,339
Increase in working capital
$ 129,841
$ 138,128
92
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
BALANCE SHEET
December 31, 1986
with comparative figures for 1985
ASSETS
1986
1985
Current assets:
Other cash balances
$ -
$ 56,448
Receivables:
Patient and resident, less estimated allowances
and uncollectibles of $115,000 in 1986 and
$110,000 in 1985
1,001,214
1,111,449
Lutheran Hospitals and Homes Society of America
306,774
295,984
City of Kodiak
4,073
9,352
Third party
116,621
628,349
State subsidy
93,750
-
Inventories, at cost
146,244
134,374
Prepaid expenses
-
12,330
Total current assets
1,668,676
2,248,286
Borough designated investments
760,134
-
Receivable from Lutheran Hospitals and
Homes Society of America
1,118,000
820,000
Building and equipment, at cost:
Building and fixed equipment
3,984,773
3,950,226
Major movable equipment
1,448,765
1,265,640
5,433,538
5,215,866
Less accumulated depreciation
1,865,792
1,634,563
Net building and equipment
3,567,746
3,581,303
$7,114,556 $6,649,589
LIABILITIES AND FUND EQUITY
Current liabilities:
Bank overdraft $ 9,710 $ -
Accounts payable 29,878 33,043
Accrued liabilities:
Compensation 191,523 168,641
Other 25,775 4,812
Total current liabilities 256,886 206,496
Fund equity 6,857,670 6,443,093
67 11A CSL QL KAa C4U
93
Schedule 34
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND '
STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND EQUITY
Year ended December 31, 1986
with comparative figures for 1985
Operating revenues:
Patient and resident service
$5,579,432
$5,085,453
Less allowances for uncollectible accounts
570,238
(175,729
Net patient and resident service revenues
5,009,194
5,261,182
Other operating revenues
92,435
102,183
Total operating revenues
5,101,629
5,363,365
Operating expenses:
Professional care of patients and residents
2,483,452
2,442,601
General and administrative
1,538,427
1,277,275
Plant operation and household
875,788
840,965
Depreciation
247,306
225,859
Total operating expenses
5,144,973
4,786,700
Operating income (loss)
(43,344)
576,665
Other income, primarily State of Alaska revenue sharing
317,603
321,638
Net earnings
274,259
898,303
Fund equity at beginning of year
6,443,093
5,539,264
Equity transfers from Kodiak Island Borough
140,318
5,526
Fund equity at end of year
$6,857,670
$6,443,093
94 j
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended December 31, 1986
with comparative figures for 1985
Financial resources provided:
Net earnings from operations
Depreciation which does not require
working capital
Working capital provided
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:
Funding of Borough designated investments
Financing of receivable from Lutheran Hospitals
and Homes Society of America
Construction of building improvements
and purchase of equipment
Total financial resources used
Increase (decrease) 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 (decrease) in working capital
$ 274,259
247,306
Schedule 35
$ 898,303
225,859
521,565 1,124,162
140,318 5,526
- 65,000
661,883 1,194,688
760,134 -
298,000 -
233,749 182,221
1,291,883 182,221
$ (630,000 $1,012,467
$ (56,448)
$ 56,448
(522,702)
983,379
11,870
28,827
(12,330
(9,171
(579,610
1,059,483
9,710
(28,708)
(3,165)
33,043
43,845
42,681
50,390
47,016
$ (630,000 $1,012,467
95
AGENCY FUNDS
Agency Funds are used to account for assets held by a government 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.
STUDENT ACTIVITIES FUND
Schedule 36
KODIAK ISLAND BOROUGH
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS,
LIABILITIES AND FUND BALANCES
Year ended June 30, 1987
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
Due to participants
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash, including time
certificates of deposit
Other receivables
ICMA investments
LIABILITIES
Accounts payable
Due to General Fund
Due to student organizations
Due to participants
Balance at Balance at
July 1, 1986 Additions Deletions June 30, 1987
$ 76,680
$200,848
$172,544
$104,984
2,289
2
2,289
2,361
$ 78,969
$203,209
$174,833
$107,345
$ 2,048
$ 6,005
$ 2,048
$ 6,005
2,738
219
2,738
219
74,183
196,985
170,047
101,121
$ 78,969
$203,209
$174,833
$107,345
$238,093 $118,793 $ - $356,886
$238,093 $118,793 $ - $356,886
$ 76,680
$200,848
$172,544
$104,984
2,289
2,361
2,289
2,361
238,093
118,793
-
356,886
$317,062
$322,002
$174,833
$464,231
$ 2,048
$ 6,005
$ 2,048
$ 6,005
2,738
219
2,738
219
74,183
196,985
170,047
101,121
238,093
118,793
-
356,886
$317,062
$322,002
$174,833
$464,231
96
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 Enterprise
Funds.
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF GENERAL FIXED ASSETS BY SOURCE
June 30, 1987
General fixed assets:
Land
Buildings
Improvements other than buildings
Machinery and equipment
Construction work in progress
Investment in general fixed assets:
Capital Projects Funds:
General obligation bonds
Federal grants
State grants
General Fund revenues
Special Revenue Funds revenues
Contribution from State of Alaska
Gift
$ 7,469,315
51,973,292
3,863,474
2,567,349
681,445
$66,554,875
$35,140,989
645,826
17,534,053
2,396,276
361,389
6,454,446
4,021,896
$66,554,875
M
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
June 30, 1987
Staff agencies:
Borough mayor
$ 6,868
$ -
Borough clerk
16,659
-
Finance
40,760
-
Assessing
18,575
-
Community development
21,988
-
Engineering
40,123
Data services
254,042
-
Resource management
2,530
-
Facilities
39,823
-
General administration
85,214
-
Mental health
56,848
-
Total staff agencies
583,430
-
Public safety:
Emergency preparedness
15,156
-
Fire Protection Area 1
632,491
-
Women's Bay Fire District
606,698
-
Total public safety
1,254,345
-
Schools
48,308,987
-
Teacher housing
125,715
-
General governmental buildings
4,268,164
-
Building sites
110,648
110,648
Playgrounds
710,239
-
Other
3,153,235
-
Total general fixed assets
allocated to functions
58,514,763
110,648
Undeveloped land
7,358,667
7,358,667
Construction work in progress
681,445
-
Total general fixed assets
$66,554,875
$7,469,315
98
Improvements Machinery
Other Than and
Buildings Buildings Equipment
$ 6,868
16,659
40,760
18,575
- - 21,988
- 40,123
254,042
2,530
39,823
85,214
56,848
583,430
15,156
423,750
-
208,741
425,655
-
181,043
849,405
-
404,940
46,730,008
-
1,578,979
125,715
-
-
4,268,164
-
-
-
710,239
-
-
3,153,235
-
51,973,292
3,863,474
2,567,349
681,445
-
-
$52,654,737
$3,863,474
$2,567,349
..
Schedule 39
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
Year ended June 30, 1987
General Fixed
Assets at General Fixed
July 1, 1986 Assets at
(Restated) Additions Deductions June 30, 1987
Staff agencies:
Borough mayor
$ 6,868
$ -
$ -
$ 6,868
Borough clerk
16,659
-
-
16,659
Finance
32,768
11,904
3,912
40,760
Assessing
10,050
8,525
-
18,575
Community development
13,979
8,009
-
21,988
Engineering
38,067
2,056
-
40,123
Data services
221,436
32,606
-
254,042
Resource management
1,995
535
-
2,530
Facilities
31,983
100,760
92,920
39,823
General administration
81,355
3,859
-
85,214
Mental health
55,353
1,495
-
56,848
Economic development
-
4,391
4,391
-
Total staff
agencies
510,513
174,140
101,223
583,430
Public safety:
Emergency preparedness
-
15,156
-
15,156
Fire Protection Area 1
625,291
7,200
-
632,491
Women's Bay Fire
District
606,698
-
-
606,698
Total public
safety
1,231,989
22,356
-
1,254,345
Schools
46,492,051
1,897,583
80,647
48,308,987
Teacher housing
89,380
36,335
-
125,715
General governmental
buildings
3,809,747
458,417
-
4,268,164
Building sites
89,899
20,749
-
110,648
Playgrounds
710,239
-
-
710,239
Other
20,000
3,133,235
-
3,153,235
Total general
fixed assets
allocated to
functions
52,953,818
5,742,815
181,870
58,514,763
Undeveloped land
6,862,275
496,392
-
7,358,667
Construction work in
progress
1,136,720
4,915,366
5,370,641
681,445
Total general
fixed assets
$60,952,813
$11,154,573
$5,552,5.11
$66,554,875
100
1 1 I
f t
GENERAL LONG -TERM DEBT ACCOUNT GROUP
This is a self - balancing account group which records the Borough's unma-
tured 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.
I
KODIAK ISLAND BOROUGH
GENERAL LONG -TERM DEBT ACCOUNT GROUP
STATEMENT OF GENERAL LONG -TERM DEBT
June 30, 1987
with comparative figures for 1986
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:
1967 Improvement
1974B Refunding
1980A Improvement
1983A Jr. High Renovation
1984B High School Auditorium
1986A Improvement
Environmental Protection Agency loan
Accrued annual leave
101
1 ^ n]
7,279,292
144,215
7,423,507
18,645,708
364,583
19,010,291
6 ,9A All 79R
I -_ _ 1__ 1 _ k A
R �T.
$ 309,107
7,467,450
128,879
7,905,436
(9,107)
22,897,550
375,000
23,263,443
C�1 1 A R79
$ - $ 300,000
50,000
1,685,000
10,390,000
4,800,000
9,000,000
100,000
1,900,000
10,785,000
1,000,000
6,650,000
9,930,000
25,925,000
364,583
144,215
$26,433,798
30,365,000
375,000
128,879
$31,168,879
STATISTICAL TABLES
Statistical tables reflect social and economic data, financial trends and
' the fiscal capacity of the governmental unit.
102
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL GOVERNMENTAL EXPENDITURES
AND OTHER USES BY FUNCTION
Last ten fiscal years
Table 1
(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.
103
Local
Service
Fiscal
General
Roads and
Health and
Debt
Operating
Year
Government
Trails (a)
Sanitation
Education
Service
Transfers
Total
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
2,144,647
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
1,588,182
-
709,508
1,478,912
-
1,185,630
4,962,232
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
1987
2,089,508
-
579,930
1,901,130
-
553,373
5,123,941
(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.
103
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL REVENUES BY SOURCE
Last ten fiscal years
Table 2
(a) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(b) Includes a $481,269 loss on investment relating to the Lion Capital Group.
104
Licenses
Inter-
Charges
Fiscal
and
governmental
for
Operating
Year
Taxes
Permits
Revenue
Service
Miscellaneous
Transfers
Total
1978
$1,495,808
$ 6,117
$ 499,659
$192,258
$ -
$ 12,203
$2,206,045
1979
1,706,902
24,121
378,736
249,888
-
120,335
2,479,982
1980
2,060,290
7,695
709,253
466,153
-
132,968
3,376,359
1981
2,281,111
24,083
1,706,477
112,120
754,961
168,140
5,046,892
1982
2,237,755
22,233
2,701,874
110,020
892,206 (a)
-
5,964,088
1983
1,928,259
45,444
3,086,448
118,064
472,281
83
5,650,579
1984
1,844,572
34,779
2,542,441
44,194
421,808
121,160
5,008,954
1985
1,868,049
40,386
2,365,386
25,850
454,218
15,000
4,768,889
1986
2,065,440
53,786
2,277,655
83,849
(113,025)(b)
53,660
4,421,365
1987
2,188,750
138,151
2,114,283
99,330
451,518
57,090
5,049,122
(a) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(b) Includes a $481,269 loss on investment relating to the Lion Capital Group.
104
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX LEVIES AND COLLECTIONS
Last ten fiscal years
Table 3
(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.
105
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
1978
$1,163,093
$1,121,756
96.4
$ 17,824
$1,139,580
98.0
$ 121,095
10.4
1979
1
1,328,655
93.5
51,329
1,379,984
97.1
166,635
11.7
1980
1,915,340
1,764,316
92.1
48,923
1,813,239
94.7
330 578 (a)
17.3
1981
2,257,590
1,496,037
66.3
41,038
1,537,075
68.1
1,0,1,093 (b)
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
94,231
1,939,098
103.3
32,488
1.7
1984
1,646,752
1,617,654
98.2
31,487
1,649,141
100.1
30,099
1.8
1985
1,508,003
1,492,923
99.9
10,733
1,503,656
99.7
19,366
1.3
1986
2,024,237
1,986,914
98.2
13,504
2,000,418
98.8
43,185
2.1
1987
2,181,410
2,176,543
99.7
12,207
2,188,750
100.3
49
2.2
(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.
105
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
Last ten fiscal years
REAL PROPERTY
Fiscal
Year
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
Assessed
Value
$118,797,040
119,063,900
207,066,200
225,394,400
187,598,046
216,508,832
307,989,403
325,278,582
354,524,678
367,360,196
Estimated
Actual Value
$118,797,040
119,063,900
207,066,200
225,394,400
187,598,046
216,508,832
307,989,403
325,278,582
354,524,678
367,360,196
PERSONAL PROPERTY
Assessed
Value
$ 55,904,450
63,658,640
102,859,300
132,268,500
149,474,150
67,606,123 (a)
87,631,001 (b)
69,329,999
52,088,100 (c)
37,499,229
Estimated
Actual Value
$ 55,904,450
63,658,640
102,859,300
132,268,500
149,474,150
144,886,873
182,466,162
167,476,461
125,607,345
90,373,141
TOTAL
Assessed
Value
$174,701,490
182,722,540
309,925,500
357,662,900
337,072,196
284,114,955
395,620,404
394,608,581
406,612,778
404,859,425
(a) Exempted boat full and true value for $5 and $15 fees.
(b) Reflects exemptions of boats and inventories.
(c) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
Estimated
Actual Value
$174,701,490
182,722,540
309,925,500
357,662,900
337,072,196
361,395,705
490,455,565
492,755,043
480,132,023
457,733,337
Table 4
Ratio
of Total
Assessed
to Total
Estimated
Actual
Value
100
100
100
100
100
78.6
80.7
80.1
84.7
88.4
106
Table 5 ' a.
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS
(Per $100 of Assessed Value) '
Last ten Fiscal Years
Road Servic Districts
Fire Districts
b. Contributions from the Borough to the School District for the last
ten years is calculated to have been as follows:
Fiscal
Year.
KIB
City
Debt
1978
$174,701,490
$ 457,180
2.62
1979
182,722,540
824,164
Fiscal
General
of
Service
3.30
Monashka
Service
gay
Women's
Service
Women's
Year
Fund
Kodiak
Funds
Total
Bay
District 1
Road
Bay
District 1
Bay
394,608,581
1,377,345
3.49
1986
406,612,778
1,524,460
3.75
1987
404,859,425
2,140,149
5.29
1978
7.00
9.10
0.00
16.10
0.00
0.00
0.00
0.00
0.00
0.00
1979
7.00
6.00
0.00
13.00
0.00
0.00
0.00
0.00
2.30
0.00
1980
6.98
6.00
0.00
12.98
0.00
0.00
0.00
7.20
1.90
0.00
1981
6.98
2.00
0.00
8.98
0.00
1.00
0.00
0.00
1.95
0.00
1982
7.00
4.00
0.00
11.00
0.00
0.00
0.00
0.00
2.94
0.00
1983
7.00
2.00
0.00
9.00
1.50
0.00
0.00
0.50
1.50
0.50
1984
3.75
1.25
0.00
5.00
2.00
0.00
0.00
0.50
1.50
0.50
1985
3.75
2.00
0.00
5.75
2.00
0.00
0.00
0.50
1.50
0.50
1986
3.75
2.00
0.00
5.75
2.00
0.25
0.00
0.10
1.50
0.90
1987
4.51
2.00
0.00
6.51
2.00
0.25
1.00
0.50
1.50
0.50
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
Year.
Assessed
Value
Amount of
Contribution
Millage
Equivalent
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
1987
404,859,425
2,140,149
5.29
107
s
V
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
TEN LARGEST TAXPAYERS
Year ended June 30, 1987
Taxpayer
Glacier State Telephone
International Seafoods of Alaska
Alaska Pacific Seafoods
Brechan Enterprises, Inc. (Construction)
King Crab, Inc.
Western Alaska Fisheries
Queen Fisheries, Inc.
Peterson, James E. (Retailer)
Uganik, Inc. (Fishing)
Columbia Wards Fisheries
Totals
1987
Assessed Taxes
Valuation Levied
$ 9,391,621
$ 52,105
8,814,743
45,945
5,626,565
25,528
4,970,785
24,653
4,049,542
23,155
4,906,632
22,147
4,044,013
20,867
3,843,440
17,759
2,525,155
14,520
4,155,415
14,499
$52,327,911
$261,178
Table 6
Percent
of Total
2.38%
2.10
1.17
1.13
1.06
1.01
.95
.81
.66
.66
11.93%
108
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 Censes; 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.
109
Ratio
of Net
Net
Bonded
Bonded
Less Debt
Debt to
Debt
Fiscal
Assessed
Gross
Service
Net Bonded
Assessed
per
Year
Population
Value
Bonded Debt
Fund
Debt
Value
Capita
1978
9,462
$174,701,490
$ 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
357,662,900
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
284,114,955
22,275,000
435,438
21,839,562
7.7
1,670
1984
13,389
395,620,404
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
7,776,557
22,888,443
5.6
1,641
1987
14,127
404,859,425
25,925,000
7,279,292
18,645,708
4.6
1,320
(a) 1980 population is per U.S. Bureau of Censes; 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.
109
rr rr rr rr r r r r rr rr r r r rr r rr r r r
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
Year ended June 30, 1987
Table 8
(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.
110
Percentage
Kodiak
Applicable
Island
Net Debt
to this
Borough's
Outstanding
Governmental
Share of
Name of Governmental Unit
(a)
Unit (b)
Debt
Kodiak Island Borough:
General obligation bonds
$18,603,015
100%
$18,603,015
City of Kodiak:
General obligation bonds
1,875,000
64%
1,200,000
Revenue bonds
2,655,000
64%
1,699,920
Total
$23,133,015
$21,502,935
(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.
110
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 1987
Assessed value
Plus exempt property
Total
Table 9
$ 404,859,425
1,127,834,040
$1,532,693,465
The State of Alaska does not mandate a debt limit to its municipalities and political
subdivisions. Debt capacity is ultimately determined by the marketplace.
111
r r r r r r rr rr r r r rr rr rr r r r r r
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES
FOR GENERAL BONDED DEBT TO TOTAL
GENERAL EXPENDITURES
Last ten fiscal years
Table 10
Ratio of
Debt Service
to General
Expenditures
(percent)
22.7
20.6
14.9
11.4
48.8
20.2
66.6
128.6
149.6
127.6
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case of term bonds.
112
Total
Total
Fiscal
Principal
Interest
Debt
General
Year
(a)
and Fees
Service
Expenditures
1978
$ 165,000
$ 251,167
$ 416,167
$1,830,636
1979
200,000
241,226
441,226
2,144,647
1980
205,000
229,737
434,737
2,909,039
1981
215
218,521
433,521
3,788,467
1982
220,000
1,680,912
1,900,912
3,893,139
1983
515,000
1,185,806
1,700,806
8,434,431
1984
1,750,000
1,555,900
3,305,900
4,962,232
1985
4,210,000
2,108,539
6,318,539
4,913,578
1986
5,080,000
1,727,562
6,807,562
4,551,179
1987
4,750,417
1,787,384
6,537,801
5,123,941
Table 10
Ratio of
Debt Service
to General
Expenditures
(percent)
22.7
20.6
14.9
11.4
48.8
20.2
66.6
128.6
149.6
127.6
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case of term bonds.
112
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
DEMOGRAPHIC STATISTICS
Last ten fiscal years
Fiscal
Year
Population
School Enrollment (b)
1978
9,462
2,093
1979
9,701
2,143
1980 (a)
9,939
2,149
1981
10,124 (d)
2,086
1982 (b)
12,714
2,106
1983
13,079
2,189
1984
13,389
2,180
1985
13,748
2,295
1986
13,952
2,252
1987
14,127
2,329
(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.
113
Table 11
Unemployment Rate (c)
8.2%
8.0
9.7
10.0
12.1
9.7
6.9
9.6
7.7
7.4
r r r r rr r r r r r r rr �■r r r r r rr r
rr rr rr r rr r� rr rr r r r r r r r r r rr r
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS
Year ended June 30, 1987
Table 12
(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.
114
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
54,800
$1,000,000
Earl Smith
Fire Chief, Service Area One
48,937
-
Perry L. Page
Data Processing Manager
44,471
-
Gaye Vaughan
Borough Clerk
44,376
-
Linda Freed
Director of Planning and
Community Development
52,259
-
Sylenda Paddock
Cashier
21,916
50,000
Bryce Gordon
Chief Building Official
49,375
-
David Crowe
Engineer
58,756
-
Wayne Haerer
Assessor /Appraiser
47,877
-
Pam Delys- Baglien
Director of Mental Health
66,023
-
Robert McFarland
Facilities Coordinator
44,475
-
(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.
114
Table 13
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
Year ended June 30, 1987 ,
Annual Principal and Interest Requirements
General Obligation School Bonds
Year
Principal
Interest
Total
1987
$ 2,215,000
$ 969 **
$ 3,184,582
1988
3
1,785,679 **
5,650,679
1989
3
1,471,702 **
4,891,702
1990
1,830,000
1,261,126 **
3,091,126
1991
1
1,120,682 **
300150682
1992
1,960,000
9750503 **
209350503
1993
1
824,642 **
205040642
1994
1
6920962 **
20427,962
1995
1
556,000 **
2,351,000
1996
1
41711400 **
10777,400
1997
925,000
333,600
1
1998
1
259,600
1
1999
1
179
1
2000
1
93,200
1
$25,925,000
$10
$36,866
* Does not include issues that have been fully defeased. See Table Of for
1974 issue that was refunded.
** Includes imputed interest of 8% Variable Rate Demand Bonds, Series 1984B
and 1986A.
Note: This Table (and subsidiary Tables 13a through 13f 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.
115
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION ELEMENTARY SCHOOL BUILDING, SERIES 1967
Retirement Schedule
Table 13a
This issue, dated January 1, 1967, consists of 150 bonds in the amount of
$5,000 each, totaling $750,000. Bonds numbered 1 through 140 have been
retired. Bonds numbered 141 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, Thorgrimson, 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 September 1 March 1 September 1 Total
1987 5% 141 -150 $ 50,000 $ - $1,250 $51,250
116
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL REFUNDING BONDS, SERIES 1974B
Retirement Schedule
Table 13b
This issue, dated August 1, 1974, consists of 380 bonds in the amount of $5,000
each, totaling $1,900,000. Bonds numbered 1 through 43 have been retired.
Bonds numbered 44 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.
$1,685,000 $164,937 $226,018 $2,075,955
117
Bond
Principal
Interest
Interest
Interest
Coupon
Numbers
Due
Due
Due
Year
Rate
Number
Inclusive
August 1
February 1
August 1
Total
1987
7.25%
25 -26
44 -90
$ 235,000
$ -
$ 61,081
$ 296,081
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
357,000
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
353,925
$1,685,000 $164,937 $226,018 $2,075,955
117
' KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL EXTENSION AND
IMPROVEMENT BONDS, SERIES 1980A
Retirement Schedule
Table 13c
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 342 have been
retired. Bonds numbered 343 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.
$10,390,000 $3,180,411 $3,595,037 $17,165,448
* Maturities on and after August 1, 1991 are callable at par on this or any
interest date thereafter.
118
Bond
Principal
Interest
Interest
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
February 1
August 1
Total
1987
9.00%
343 -428
$ 430,000
$ -
$ 414,626
$ 844,626
1988
9.00
429 -521
465,000
395,277
395,277
1,255,554
1989
9.00
522 -621
500,000
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
735,000
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
201,200
201,200
1,262,400
1997
8.00
1750 -1934
925,000
166,800
166,800
1,258,600
1998
8.00
1935 -2134
1,000,000
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
1,165,000
46,600
46,600
1 ,258,200
$10,390,000 $3,180,411 $3,595,037 $17,165,448
* Maturities on and after August 1, 1991 are callable at par on this or any
interest date thereafter.
118
Table 13d
KODIAK ISLAND BOROUGH
KODIAK, ALASKA t
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, SERIES 1984B
Retirement Schedule
This issue, dated May 1984, consisted initially of nine bonds totaling
$9,500,000. Bonds in the amount of $4,700,000 have been retired.
Bonds are retired serially in numerical order over a period of six 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 construct the Kodiak High School auditorium. Bonds are
payable at the Metropolitan branch of the Seattle First National Bank, Seattle,
Washington.
* Interest is at a variable rate; calculations made at 8% of the unpaid
principal balance.
* These are variable rate demand bonds. Number of bonds issued and denomina-
tions will vary over the life of the issue. The 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.
119 1
I�
Interest
Principal
Interest
Maturity
Rate
Quarterly
Quarterly
Total
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
$4,800,000
$488,000
$5,288,000
* Interest is at a variable rate; calculations made at 8% of the unpaid
principal balance.
* These are variable rate demand bonds. Number of bonds issued and denomina-
tions will vary over the life of the issue. The 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.
119 1
I�
Table 13e
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, SERIES 1986A
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. Bonds numbered 1 through 19 have been retired. Bonds numbered 20
through 199 bear interest at the rate indicated below.
Bonds are 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 b 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.
* Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
120
Bond
Interest
Numbers
Principal
Maturity
Rate
Inclusive
Amount
Interest
Total
Sep
1987
Variable
20 -24
$ 250,000
$ 157,500
$ 407,500
Dec
1987
Variable
25 -29
250,000
153,125
403,125
Mar
1988
Variable
30 -34
250,000
170,000
420,000
Jun
1988
Variable
35 -39
250,000
165,000
415,000
Sep
1988
Variable
40 -44
250,000
160,000
410,000
Dec
1988
Variable
45 -49
250,000
155,000
405,000
Mar
1989
Variable
50 -54
250,000
150,000
400,000
Jun
1989
Variable
55 -59
250,000
145,000
395,000
Sep
1989
Variable
60 -64
250,000
140,000
390,000
Dec
1989
Variable
65 -69
250,000
135,000
385,000
Mar
1990
Variable
70 -74
250,000
130,000
380,000
Jun
1990
Variable
75 -79
250,000
125,000
375,000
Sep
1990
Variable
80 -84
250,000
120,000
370,000
Dec
1990
Variable
85 -89
250,000
115,000
365,000
Mar
1991
Variable
90 -94
250,000
110,000
360,000
Jun
1991
Variable
95 -99
250,000
105,000
355,000
Sep
1991
Variable
100 -104
250,000
100,000
350,000
Dec
1991
Variable
105 -109
250,000
95,000
345,000
Mar
1992
Variable
110 -114
250,000
90,000
340,000
Jun
1992
Variable
115 -119
250,000
85,000
335,000
Sep
1992
Variable
120 -124
250,000
80,000
330,000
Dec
1992
Variable
125 -129
250,000
75,000
325,000
Mar
1993
Variable
130 -134
250,000
70,000
320,000
Jun
1993
Variable
135 -139
250,000
65,000
315,000
Sep
1993
Variable
140 -144
250,000
60,000
310,000
Dec
1993
Variable
145 -149
250,000
55,000
305,000
Mar
1994
Variable
150 -154
250,000
50,000
300,000
Jun
1994
Variable
155 -159
250,000
45,000
295,000
Sep
1994
Variable
160 -164
250,000
40,000
290,000
Dec
1994
Variable
165 -169
250,000
35,000
285,000
Mar
1995
Variable
170 -174
250,000
30,000
280,000
Jun
1995
Variable
175 -179
250,000
25,000
275,000
Sep
1995
Variable
180 -184
250,000
20,000
270,000
Dec
1995
Variable
185 -189
250,000
15,000
265,000
Mar
1996
Variable
190 -194
250,000
10,000
260,000
Jun
1996
Variable
195 -199
250,000
5,000
255,000
TOTALS
$9,000,000
$3,285,625
$12,285,625
* Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
120
Table 13f
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 440 have been retired.
Bonds numbered 441 through 800 bear interest at the rate indicated below.
Bonds are retired serially in numerical order over a period of twenty 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.
$1,800,000 $ 86,401 1111,489 $1,997,890
* 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, Colorago, dated October
1, 1974.
MEMO ONLY - Refunded by August 1, 1974 issue. I
121 1
Bond
Principal
Interest
Interest
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
February 1
August 1
Total
1987
5.40%
441 -493
$ 265,000
$ -
$ 25,088
$ 290,088
1988
5.50
494 -548
275,000
21,511
21,511
318,022
1989
5.55
549 -606
290,000
17,729
17,729
325,458
1990
5.60
607 -667
305,000
27,160
27,160
359,320
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
$1,800,000 $ 86,401 1111,489 $1,997,890
* 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, Colorago, dated October
1, 1974.
MEMO ONLY - Refunded by August 1, 1974 issue. I
121 1
� w w w w w w w r ■� �� w w w w w �■■ w
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
Last ten fiscal years
Source:
1. From local bankers
* Estimated actual value
Deposits in
Local
Banks (1)
$ 7,181,883
11,304,893
12,159,684
65,921,937
71,801,883
54,032,065
59,010,831
61,598,752
64,420,672
78,402,810
122
Table 14
PROPERTY VALUE *
Commercial
Residential
Nontaxable
$ 24,454,238
66,992,335
77,248,643
77,980,241
86,107,893
107,487,339
104,233,851
116,411,447
115,574,577
114,409,875
$ 93,442,972
109,403,194
103,559,568
109,408,625
129,872,475
199,913,042
220,001,411
236,302,401
258,311,716
252,950,321
$ 2,201,292
2,317,150
51,735,973
51,972,410
208,695,345
245,623,546
739,960,807
1,053,965,717
1,127,834,040
1,134,524,305
CONSTRUCTION
Commercial
Residential
Fiscal
No. of
No. of
Year
Units
Value
Units
Value
1978
5
$ 163,207
57
$ 1,496,321
1979
15
518,908
39
9,183,204
1980
20
354,538
32
1,691,266
1981
40
331,941
55
2,163,650
1982
53
826,596
71
3,208,175
1983
77
7,708,474
136
10,631,463
1984
63
2,965,496
74
5,495,636
1985
62
10,316,833
99
7,928,241
1986
54
3,012,970
118
10,563,802
1987
35
4,256,169
134
5,313,110
Source:
1. From local bankers
* Estimated actual value
Deposits in
Local
Banks (1)
$ 7,181,883
11,304,893
12,159,684
65,921,937
71,801,883
54,032,065
59,010,831
61,598,752
64,420,672
78,402,810
122
Table 14
PROPERTY VALUE *
Commercial
Residential
Nontaxable
$ 24,454,238
66,992,335
77,248,643
77,980,241
86,107,893
107,487,339
104,233,851
116,411,447
115,574,577
114,409,875
$ 93,442,972
109,403,194
103,559,568
109,408,625
129,872,475
199,913,042
220,001,411
236,302,401
258,311,716
252,950,321
$ 2,201,292
2,317,150
51,735,973
51,972,410
208,695,345
245,623,546
739,960,807
1,053,965,717
1,127,834,040
1,134,524,305
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.
Area - square miles
Miles of improved street
Miles of sanitary sewers
Number of water taps
Number of sanitary sewer taps
Building permits:
Permits issued
Value of buildings (thousands)
Fire protection:
Number of fire stations
Number of employees
Police protection - none
Recreation:
Parks - number of acres
Facilities:
Number of playgrounds
Number of swimming pools
Education:
Number of schools:
Elementary
Junior high /middle
Senior high /middle
Vocational technology
Number of administrative personnel
Number of teachers
Number of students
Number of municipal employees
Elections:
Number of registered voters
Number voting in last election
Percent of registered voters
1978
1979
1980
1981
4,900
4,900
4,900
4,900
16.48
16.48
16.48
16.48
62
52
52
95
3,044.2
9,701.9
2,045.8
2,495.5
410.5
740.5
1,500
2,230
1
1
1
1
11
11
11
11
4
4
4
4
4
5
6
6
1
1
1
1
130
163
181
187
129
141
150
150
2,129
2,143
2,149
2,086
21
21
32
37
4,468
4,778
5,123
5,198
1,197
1,661
1,595
1,613
26.8
34.8
31.1
31.0
(a) Prior years include lands designated recreational;
1986 and after represents actual parks.
123
Table 15
1982
1983
1984
1985
1986
1987
4,900
4,900
4,900
4,900
4,900
4,900
16.48
16.48
16.48
17.29
19.53
20.3
-
-
3.7
4.2
9.63
15.49
-
309
309
309
410
390
-
170
170
170
327
359
124
213
137
161
172
169
4,034.7
18,339.9
8,416.1
17,858.0
12,196.8
9,570.0
-
-
2
2
2
2
-
-
1
1
1
1
2,440
3,277
4,099
3,414
220(a)
222
-
4
5
5
14
15
1
1
1
1
1
1
10
10
10
10
10
10
4
4
4
4
4
4
6
6
7
7
7
7
1
1
1
1
1
1
178
179
174
158
159
152
150
152
156
157
154
148
2,106
2,189
2,180
2,295
2,285
2,329
39
46
49
46
49
53
5,883
5,115
5,200
6,603
6,463
6,559
1,619
1,720
2,079
3,075
2,356
2,094
27.5
33.6
44.0
46.6
36.4
31.9
124