CAFR FY19881
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I KODIAK ISLAND BOROUGH
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Kodiak Alaska
Comprehensive Annual Financial Report
For Year Ended
June 30, 1988
Prepared by:
Department of Finance
Bryce S. Weeks
Finance Director
KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
INTRODUCTORY SECTION
PAGE
TABLE OF CONTENTS 1
BOROUGH OFFICIALS v
BOARDS AND COMMITTEES vi
MAP OF KODIAK ISLAND BOROUGH viii
ORGANIZATIONAL CHART ix
LETTER OF TRANSMITTAL x
FINANCIAL SECTION
EXHIB
REPORT OF INDEPENDENT AUDITORS
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
COM BINING_ .INDIVIDU FUND AND ACCOUNT GROUP
FINANCIAL STATEMENTS
GENERAL FUND:
Balance Sheet 1 40
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balance - Budget and Actual 2 41
Schedule of Expenditures and Transfers -
Budget and Actual 3 44
i
KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
(Continued)
ii
SCHEDULE
PAGE
SPECIAL REVENUE FUNDS:
Combining Balance Sheet
4
59
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances (Deficits)
5
61
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual:
Land Sales
6
63
Fire and Road Service Districts:
Fire:
Area 1
7
64
Women's Bay
8
65
Road:
Monashka Bay
9
66
District 1
10
67
Women's Bay
11
68
Bay View Service Districts Road
12
69
Federal and State Grant Programs:
Federal Revenue Sharing
13
70
Mental Health Center
14
71
Energy
15
73
Day Care
16
74
Education
17
75
Building and Grounds
18
77
DEBT SERVICE FUNDS:
Combining Balance Sheet
19
78
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance
20
79
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual:
School Bonds
21
80
CAPITAL PROJECTS FUNDS:
Combining Balance Sheet
22
81
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
23
83
Schedule of Capital Projects
24
85
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KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
(Continued)
iii
SCHEDULE
PAGE
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS:
Combining Balance Sheet
25
87
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings
26
89
Combining Statement of Changes in Financial Position
27
91
Sanitary Landfill:
Balance Sheet
28
93
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
29
94
Statement of Changes in Financial Position
30
95
Water and Sewer:
Balance Sheet
31
96
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
32
98
Statement of Changes in Financial Position
33
100
Hospital:
Balance Sheet
34
101
Statement of Revenues, Expenses and
Changes in Fund Equity
35
102
Statement of Changes in Financial Position
36
103
TRUST AND AGENCY FUNDS:
Combining Statement of Changes in Assets,
Liabilities and Fund Balances
37
104
GENERAL FIXED ASSETS ACCOUNT GROUP:
Statement of General Fixed Assets by Source
38
105
Statement of General Fixed Assets by Function and Activity
39
106
Statement of Changes in General Fixed Assets by
Function and Activity
40
108
GENERAL LONG -TERM DEBT ACCOUNT GROUP:
Statement of General Long -Term Debt
41
109
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KODIAK ISLAND BOROUGH
TABLE OF CONTENTS
(Continued)
STATISTICAL SECTION
Statistical Tables:
General Governmental Expenditures and Other Uses
by Function - Last Ten Fiscal Years
General Revenues by Source - Last Ten Fiscal Years
Property Tax Levies and Collections -
Last Ten Fiscal Years
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
Property Tax Rates - All Overlapping Governments -
Last Ten Fiscal Years
Ten Largest Taxpayers
Ratio of Net General Bonded Debt - Last Ten Fiscal Years
Computation of Direct and Overlapping Debt
Computation of Legal Debt Margin
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Expenditures - Last Ten Fiscal Years
Demographic Statistics - Last Ten Fiscal Years
Salaries and Surety Bonds of Principal Officials
Summary of Debt Service Requirements to Maturity
General Obligation Bonds Outstanding:
School Refunding Bonds, Series 1974B
School Improvements, Series 1980A
School Improvements, Series 1984B
School Improvements, Series 1986A
School Refunding Bonds, Series 1974
Property Value, Construction and Bank Deposits -
Last Ten Fiscal Years
Miscellaneous Statistical Data
PAGE
TABLE
1
110
2
111
3
112
4
113
5
114
6
115
7
116
8
117
9
118
10
119
11
120
12
121
13
122
13a
123
13b
124
13c
125
13d
126
13e
127
14 128
15 129
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SECTION I
I INTRODUCTORY SECTION
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BOROUGH OFFICIALS
Kodiak Island Borough
Year Ended June 30, 1988
BOROUGH ASSEMBLY
Alan Austerman '88
Ann Barker '89 Tom Merriman '90
Ken Gregg '88 Wayne Stevens '89
Jack L. McFarland '90 (Presiding Officer) Lorne "Lonnie" White '89
BOROUGH MAYOR
Jerome M. Selby '89
Charles E. "Bud" Cassidy . ............................... Resource Management Officer
David C. Crowe ...................... ............................... Borough Engineer
Pamela Delys— Baglien .......... ............................... Mental Health Director
Linda L. Freed ..................... ............................... Planning Director
Wayne D. Haerer ................... ............................... Assessor /Appraiser
Jamin, Ebell, Bolger, Gentry ..................... (Contracted Firm) Borough Attorney
Robert MacFarlane ............. ............................... Facilities Coordinator
Perry L. Page ................ ............................... Data Processing Manager
Jerome M. Selby .................... ............................... Personnel Officer
Earl A. Smith ............................. ............................... Fire Chief
Gaye Vaughan ........................... ............................... Borough Clerk
Don Wee ....................... ............................... Hospital Administrator
Bryce S. Weeks ............ ............................... Finance Director /Treasurer
Mary Ann Weidman .................... ............................... Purchasing Agent
John Witteveen ....... ............................... Superintendent, School District
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KODIAK ISLAND BOROUGH
Kodiak, Alaska
Boards and Committees
Year ended June 30, 1988
Sch ool Board 5)
*Suzanne Hancock
Dave Herrnsteen
Alice Knowles
Cheryl McNeil
Bill Oliver
Ho spital Advisory Board (7
Ben Ardinger
William C. Hogan
Gretchen Saupe
Betty Springhill
*Wilton White
Dr. Bob Johnson
Ann Barker
Mental Health Center Advisory Board (9
Josefina Barber
Sharon Been
Frances Cater
Maureen Eberhardt
Julie Knagin
Jane Nuttall
Barbara Popken
Wayne Stevens
Vacant
Planni a nd Zon ing Commission (7
Michael Anderson
Jon Hartt
Robin Heinrichs
Tom Hendel
Mary Lou Knudsen
*Steve Rennell
Scott Thompson
Pe rson ne l Advisory Board (5
Pat Borger
Mary McFarland
Mary Monroe
*Walter Sapp
Cit izen Board of Equalization (5
Jim Carmichael
Vickie Case
Tim Hurley
Norman Sutliff
*Kyle Taylor
Jim Ashford, Alternate
Parks_anl_R Committee (12
Lisette Alvarez
Maureen Butler
Jim Cobis
Lisa Dunn
Susan Jeffrey
*Patrick Vaughan
Tom Watson
Tom Merriman
Mary Lou Knudsen
Ian Fulp
Mike Goodwin
Alice Knowles
Architectural Review Board (9
*Bill Beaty
Wayne Coleman
Cliff Ford
Joann Hall
Robin Heinrichs
Vacant (2)
Thomas Saint
Ken Gregg
Building Code Board of Appeals (7
Cliff Ford
Joann Hall
Robin Heinrichs
Robert Hull
Vacant (3)
Data Proc essing Steering Committee (7
Ken Gregg
Perry Page
*Jerome Selby
Bryce Weeks
Bill Oliver
John Witteveen
Jocelyn Zwiefelhofer
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* Indicates chair
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Fire Protecti Area #1
Advisory Board (5
Scott Arndt
Sid Cozart
Charles Lorenson
*Horace Simmons
Bill Swearingin
Bav View Road _ Service District
Advisory B oard
Dawn Black
Reed Oswalt
Randy Chase
*Sid Cozart
Dave Kubiak
Monashka Bay Road Service District
Advisory Board (5
Eric Blankenburg
Roxy Bringgold
Ilva Fox
Dan Ogg
*Bill Swearingin
Kodiak Island Transport Stu
Steering Committee (KITS) (5
Alan Austerman
Bob Brodie
Al Cratty
Gordon Gould
Jerome Selby
Consolidation Committee (9)
Chris Blackburn
Andy Cristaldi
Sven Haakanson
Tom Hendel
Beverly Horn
Jack McFarland
*Gary Stevens
Wilton White
Helen Wise
Joyce Healey, Alternate
Service District No. 1
Advisory Board (7
Scott Arndt
Okey Chandler
*Jim Fisk
Gordon Gould
Tony Perez
Martha Randolph
Earl Smith, Jr.
Wome Bay Servi District
Advisory Board (7
*Wayne Berry
John Burt
'
Carl Hayes
Ed Gondek
Charles Madsen
'
Richard Perkins
Robert Tarrant
* Indicates chair
1
vii
Fire Protecti Area #1
Advisory Board (5
Scott Arndt
Sid Cozart
Charles Lorenson
*Horace Simmons
Bill Swearingin
Bav View Road _ Service District
Advisory B oard
Dawn Black
Reed Oswalt
Randy Chase
*Sid Cozart
Dave Kubiak
Monashka Bay Road Service District
Advisory Board (5
Eric Blankenburg
Roxy Bringgold
Ilva Fox
Dan Ogg
*Bill Swearingin
Kodiak Island Transport Stu
Steering Committee (KITS) (5
Alan Austerman
Bob Brodie
Al Cratty
Gordon Gould
Jerome Selby
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STATE OF ALASKA
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BOROUGH ASSEMBLY
(ELECTED)
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MAYOR
(ELECTED)
SERVICE DISTRICT
ADVISORY BOARDS
(ELECTED)
MONASHKA BAY ROAD
SERVICE DISTRICT
*OMENS BAY ROAD
SERVICE IFIRE DISTRICT
SERVICE DISTRICT NO I
-ROAD, WATER, SEWER
FIRE DISTRICT NO i
- (BAYVIEW)
SCHOOL BOARD
(ELECTED)
SUPERINTENDENT
OF SCHOOLS
SCHOOL STAFF
GENE FACILITIES ENGINEERING FINANCE
BUILDING
INSPECTOR � I ADMINISTRATION I I DEPARTMENT I I DEPARTMENT � � DEPARTMENT � � DEPAR MENT
DATA 4ASSESS MENTAL
SERVICES HEALTH
DEPARTMENT NT CENTER
HOSPITAL
PLANNING AND
CITIZENS ADVISOR)
ADVISORY BOARD
ZONING COMMISSION
BOARDS/COMMISSION( ,
(APPOINTED BY ASSEMBLY)
(APPOINTED BY ASSEMBLY)
( APPOINTED BY ASSEMBLY)
PERSONNEL BOARD
HOSPITAL
BOROUGH
ARCHITECTURAL. REVIEW
ADMINISTRATOR
PARKS AND RECREATION
ATTORNEY
BOARD OF EQUALIZATION
MENTAL HEALTH CENTER
ECONOMIC DEVELOPMENT
HOSPITAL STAFF
BOROUGH
OCS ADVISORY COUNCIL
CLERK
BUILDING CODE BOARD
OF APPEALS
KITS COMMITTEE
MAYOR
(ELECTED)
SERVICE DISTRICT
ADVISORY BOARDS
(ELECTED)
MONASHKA BAY ROAD
SERVICE DISTRICT
*OMENS BAY ROAD
SERVICE IFIRE DISTRICT
SERVICE DISTRICT NO I
-ROAD, WATER, SEWER
FIRE DISTRICT NO i
- (BAYVIEW)
SCHOOL BOARD
(ELECTED)
SUPERINTENDENT
OF SCHOOLS
SCHOOL STAFF
GENE FACILITIES ENGINEERING FINANCE
BUILDING
INSPECTOR � I ADMINISTRATION I I DEPARTMENT I I DEPARTMENT � � DEPARTMENT � � DEPAR MENT
DATA 4ASSESS MENTAL
SERVICES HEALTH
DEPARTMENT NT CENTER
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Kodiak IslandBorough
December 21, 1988
710 MILL BAY ROAD
KODIAK, ALASKA 99615.6340
PHONE (907) 486 -5736
To the Honorable Borough Mayor
and Borough Assembly
Kodiak Island Borough
Kodiak, Alaska
The comprehensive annual financial report (CAFR) of the Kodiak Island
Borough (Borough), Kodiak, Alaska for the fiscal year ended June 30, 1988
is submitted herewith.
The report was prepared by the Borough Finance Department. Respor:si-
bility for the accuracy, completeness and fairness of presentat on,
including all disclosures, rests with the Borough. We believe the data,
as presented, is accurate in all material respects, that it is presented
in a manner designed to fairly set forth the financial position and
results of operations of the Borough as measured by the financial
activity of its various funds, and that all disclosures necessary to
enable the reader to gain maximum understanding of the Borough's
financial affairs have been included.
BACKGROUND
The Kodiak Island Borough lies at the western border of the Gulf ')f
Alaska, about 40 miles south of the Kenai Peninsula. The Kodiak Island
Borough is separated from the Alaska Peninsula by the Shelikof Strait
which is only 20 miles wide in places. The Kodiak Island Borough
encompasses 4,900 square miles, or about the same area as the State of
Connecticut.
THE ORGANIZATION OF THE GOVERNMENT
The Kodiak Island Borough was incorporated September 30, 1963 as a Second
Class Borough by Chapter 146 Sessions, Laws of Alaska 1961, as amended.
The Kodiak Island Borough is governed by a Strong Mayor /Assembly form of
government. The Kodiak Island Borough assembly is composed of seven
members who are elected at large.
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REPORTING ENTITY
The funds related to the Kodiak Island Borough included in our CAFR are
considered to be within the oversight responsibility of the Borough
Assembly.
The criteria used in determining the reporting entity are consistent with
the National Council on Governmental Accounting (NCGA) Statement 3,
"Definition of a Reporting Entity ". Based on these criteria, the various
funds and account groups (being all the funds and account groups of the
Borough) shown in the Table of Contents are included in this report.
SERVICES PROVIDED
The Kodiak Island Borough provides
education, health, garbage collection
public improvements, and general admin
education through the Kodiak Island
contracted with Lutheran Homes and
Hospital.
a variety of services including
and disposal, planning and zoning,
istration. The Borough provides for
Borough School District and has
Hospital to operate the Borough
The Borough has oversight responsibility for four road service districts
and two fire protection districts.
The Borough is responsible for operating the sanitary landfill and
provides water and sewer services.
REPORTING STANDARDS
This report was prepared in accordance with the revised principles
prescribed by the National Council on Governmental Accounting, the
American Institute of Certified Public Accountants, the Borough Code, and
the Government Finance Officers Association.
FINANCIAL STATEMENT FORMAT
This comprehensive annual financial report is presented in three main
sections: introductory, financial, and statistical. The introductory
section includes background on the Borough, the Fund accounting concept
ACCOUNTING SYSTEMS AND BUDGETARY CONTROL
The Kodiak Island Borough uses the modified accrual basis for governmental
funds and the accrual basis for enterprise funds. Under the modified
accrual basis of accounting, revenues are recognized when measurable and
available and expenditures are recognized when incurred.
xi
used by
the Borough, and some financial presentations. The financial
section
includes the independent
auditors report, combined statements,
notes to
financial statements, and
more — detailed combining and individual
statements
and schedules. The
statistical section includes selected
'
financial
and general information
presented on a ten year comparative
basis.
ACCOUNTING SYSTEMS AND BUDGETARY CONTROL
The Kodiak Island Borough uses the modified accrual basis for governmental
funds and the accrual basis for enterprise funds. Under the modified
accrual basis of accounting, revenues are recognized when measurable and
available and expenditures are recognized when incurred.
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Budgetary control is maintained by an annual appropriation system supple-
mented by a supplemental appropriation approximately half way through the
fiscal year. Budgetary control is also maintained through the use of an
encumbrance system. As purchase orders, contracts and other obligations
are issued, corresponding amounts of appropriations are reserved by the
use of encumbrances so that appropriations will not be overexpended.
All new monies are appropriated by a public hearing and the adoption of an
appropriation ordinance. Appropriation transfers are made between funds
and /or departments only after the adoption of a resolution by the
Assembly. Appropriation transfers between line items within a fund are
effectuated by staff.
INTERNAL CONTROL
The accounting system of the Kodiak Island Borough is dependent upon a
strong system of internal control. The Finance Director of the Borough
also acts as the internal auditor of the Borough. The Borough is
concerned with both aspects of internal control, reliable and accurate
financial information and the safeguarding of Borough assets. As much as
possible, in a small office, duties are segregated and no one person has
complete control over one area.
Management is extremely aware of the importance of good internal
controls. Although present controls are highly satifactory and adequate,
they continue to be scrutinized periodically for enhancements.
GENERAL GOVERNMENT FUNCTIONS
A. General Fund
Only the General Fund of the Kodiak Island Borough is considered in
the following explanation of general governmental functions. Revenues
for general government totaled $5,236,553 and operating transfers were
$114,635. This was an increase of $244,521 and $57,545, respectively
over 1987. General property taxes produced 46.6% of general revenues
in 1988 compared with 43.3% in 1987. The amount of revenues from
various sources and the increase or decrease over last year are shown
in the following tabulation:
Increase (Decrease)
Revenue Source and Other
Amount
Percent
Over 1987
Financing Sources
( Thousands )
of Total
(Thousands)
Property taxes
$2,491.1
46.6
$302.4
Licenses and permits
98.0
1.8
(40.1)
Intergovernmental revenue
2,291.6
42.8
177.2
Charges for services
0.1
-
(99.2)
Miscellaneous
355.8
6.7
(95.7)
Operating transfers
114.6
2.1
57.5
$5.351.2
100.0
$302.1
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Assessed property valuation of $428.8 million represented an increase
of 5.9390 over the preceding year. 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
$5,578,069, an increase of 8.990 over 1987. Changes in levels of
expenditures for major General Fund functions of the Borough over the
preceding year are shown in the following tabulation:
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
current year property tax is again down slightly. The following
table reflects fund balance at the close of the fiscal years ended
June 30:
1981
$3,293,670
1982
Increase (Decrease)
1983
Amount
Percent
Over 1987
Function
( Thousands )
of Total
(Thousands)
1987
2,475,747
1988
General government
$1,416.4
25.47
$(60.1)
Public safety
163.7
2.9
77.4
Public works
91.4
1.6
(92.8)
Health and sanitation
466.0
8.4
(33.9)
Education
177.4
3.2
23.1
Conservation and
development
293.2
5.3
(49.3)
Operating transfers
2,970.0
53.2
589.8
5 578.1
100.0
454.2
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
current year property tax is again down slightly. The following
table reflects fund balance at the close of the fiscal years ended
June 30:
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
1988
2,248,866
B. Special Revenue Funds
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
year 1989.
xiii
C. 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 24.
The revenue 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.
D. Enterprise Funds
As required by the Governmental Accounting Standards Board Statement
1, the Kodiak Island Hospital financial statements are included in
the Comprehensive Annual Financial Report as Enterprise Funds.
The Borough has three other enterprise funds namely water, sewer and
sanitary landfill. The water and sewer funds are maintained
separately on the Borough books but are combined in the report for
ease of reporting.
E. General Fixed Assets
The general fixed assets of the Borough are those fixed assets used
in the performance of general governmental functions and exclude the
fixed assets of utility and other enterprise funds. Depreciation is
not recognized in the Borough's accounting system other than in the
enterprise funds.
The accountability for fixed assets of the Borough has been greatly
facilitated by the use of 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.
F. Debt Service Fund
This fund was established to finance and account for the payment of
principal and interest on all general obligation debts other than
those which are payable exclusively from special assessments and
revenue debts issued for and serviced by a governmental enterprise.
DEBT ADMINISTRATION
The Statutes of the State of Alaska and the Code of the Kodiak Island
Borough do not establish a legal debt margin. Our debt capacity is
determined by a vote of the electorate and ultimately by the marketplace
when debt is attempted to be placed. The Borough's general obligation
bonds are rated as follows:
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Moody's Standard
Investors Service and Poors
General obligation bonds
General obligation refunding bonds
General obligation variable rate 1984
General obligation variable rate 1986
CASH MANAGEMENT
BAA -1 BBB
BAA -1 AAA
MIG -1
AA + /A -1+
The Borough treasurer operates as the central treasurer for all Borough,
School District and Mental Health Center monies. A cash pool concept is
maintained whereas all funds are self - balancing unique entities and each
fund has its own cash account which may on occasion show a "book
overdraft" while others have an excess of cash. In this manner, the
Borough is able to fully invest all idle funds without creating a "bank
overdraft."
The Borough investment policy is far more restrictive than many
governments. The parameters in which we operate are as defined in Title
3, Chapter 4, of the Borough Code. Basically, it states that we invest
only in high grade securities that are fully collateralized. Further,
the collateral is to be held by a third party bank.
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
required 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 all idle funds are invested
on the following day. We do recognize that there is frequently some
exposure to uninsured and uncol lateral ized deposits. We have made great
strides in minimizing this exposure through increased collateral and
selection of banks and brokers with additional insurance. An account is
now used (established February 1988) with the local servicing bank to
daily sweep the total balances to another account. That account is
collateralized by U.S. Treasuries at 102. Collateral is held by a third
party bank.
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.
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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 while providing adequate coverage.
DATA PROCESSING
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
current IBM /38 configuration is:
5381
5218
Printer (Clerk)
Model 200
CPU 6MB
5251
Display Station (7)
9332
Storage
40OKB (2)
5291
Display Station (4)
3370
Storage
2MB (2)
5291
PC /Display Local (10)
3411
Magnetic
Tape Unit
5291
PC /Display - Remote (3)
3262
Printer
5292
PC /Display Station (2)
5225
Printer
(2)
5224
Printer (Shipping/
5256
Printer
(High School)
Receiving)
In 1987, three elementary schools were connected to the Host IBM
System /38 Computer via dedicated lease line at each school. The three
schools are now interfacing to the School District's school reporting and
school financial systems. Several IBM PCs were purchased and are used in
a dual purpose, as a standalone computer and as a terminal connected to
the IBM System /38.
An uninterruptable power supply (UPS) was purchased and installed to
provide backup electrical power in case power is lost. This will ensure
that there is no loss of data due to power outage.
Data services equally serve the Borough departments and the Kodiak Island
Borough School District.
xv i
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SIGNIFICANT EVENTS AND ACCOMPLISHMENTS
During this period, the Borough was successful in being granted judgment
against a major firm in an asbestos litigation. The eventual settlement
and receipt has netted the Borough approximately $1,268,000 after
deductions of attorney fees.
A tragic event, with no loss of life, was the destruction of the Port
Lions school by fire. It readily became evident that the Borough was
properly insured. The carrier was on the scene almost immediately with
front end money and a just settlement was reached without delay and was
promptly paid.
PARTICIPATION IN GFOA CERTIFICATE OF ACHIEVEMENT PROGRAM
The GFOA of the United States and Canada awards a Certificate of Achieve-
ment 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.
INDEPENDENT AUDIT
The Borough Code requires an annual audit to be made of the books of
account, financial records, and transactions of all administrative
departments of the Borough Assembly. This requirement has been complied
with and the auditor's opinion has been included in this report.
xvii
Existing applications:
Both entities have the basics such
as an integrated financial and
reporting system and a payroll system.
Other current applications are as
follows:
Borough
School District
Utility Billing System
Financial Accounting System
Financial Accounting System
Building Maintenance System
Property Tax
Fixed Assets
Land Sale
Inventory
Labels - Letters
Text Management
Future Applications:
Borough
School District
Land Sale /Billing System
Preventive Maintenance
File Maintenance Procedures
Integrated Budget Process
New Fixed Assets System
Implementing AutoCad System
Point -of -Sale System
The Data Processing Department is now
staffed with four positions; a
manager, programmer /analyst, a programmer and an operator.
SIGNIFICANT EVENTS AND ACCOMPLISHMENTS
During this period, the Borough was successful in being granted judgment
against a major firm in an asbestos litigation. The eventual settlement
and receipt has netted the Borough approximately $1,268,000 after
deductions of attorney fees.
A tragic event, with no loss of life, was the destruction of the Port
Lions school by fire. It readily became evident that the Borough was
properly insured. The carrier was on the scene almost immediately with
front end money and a just settlement was reached without delay and was
promptly paid.
PARTICIPATION IN GFOA CERTIFICATE OF ACHIEVEMENT PROGRAM
The GFOA of the United States and Canada awards a Certificate of Achieve-
ment 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.
INDEPENDENT AUDIT
The Borough Code requires an annual audit to be made of the books of
account, financial records, and transactions of all administrative
departments of the Borough Assembly. This requirement has been complied
with and the auditor's opinion has been included in this report.
xvii
PROSPECTS FOR THE FISCAL YEAR 1989
The Assembly of the Kodiak Island Borough has again adopted a balanced
budget for fiscal year 1989. This has been our policy for several
ears. In recent years, we have adopted and executed a budget that is
-alanced by drawing down on the fund balance, in particular, the General
Fund. In this manner, the Borough continues to have the resources
available to do the tasks assigned without an unusually high fund balance
at year end.
This has resulted in holding the line and, in most cases, reducing the
amount of property tax assessment needed. Starting in 1981 and
continuing have been our efforts to collect those taxes and other
receivables due to the Borough promptly, thus negating the need to assess
and collect additional monies from those who pay promptly. At fiscal
year end, uncollected taxes, of all prior years, were only some $25,000
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 in excess of $2 million for design and
construction of a new hospital. Revenue bonds may be necessary to meet
the additional funding requirements for this project. Ideally, the
necessary funds will come through another capital grant from the State or
a combination of grant and revenue bond proceeds.
The economy of Kodiak remains very healthy. We are in 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 financial operations of the Borough in a responsible and '
progressive manner.
Respectfully submitted, '
/'00
BRYCE S. WEEKS
DIRECTOR OF FINANCE
xviii
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SECTION 2
FINANCIAL SECTION
1
11
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'J
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E&M Ernst &Whinny Suite 601
301 W. Northern Lights Boulevard
Anchorage, Alaska 99503
907/279 -1411
REPORT OF INDEPENDENT AUDITORS
The Honorable Mayor and Borough Assembly
Kodiak Island Borough
We have audited the accompanying combined financial statements of the
Kodiak Island Borough (Borough) as of and for the year ended June 30,
1988, as listed in the table of contents. These financial statements are
the responsibility of the Borough's management. Our responsibility is to
express an opinion on these financial statements based on our audit. We
did not audit the financial statements of the Kodiak Island Borough
Hospital, which statements reflect total assets of 31 percent and
revenues of 87 percent of the related totals of the Proprietary Fund Type
Enterprise Funds. Those statements were audited by other auditors whose
report has been furnished to us, and our opinion, insofar as it relates
to the amounts included for the Kodiak Island Borough Hospital, is based
solely on the report of the other auditors.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audit
and the report of other auditors provide a reasonable basis for our
opinion.
In our opinion, based on our audit and the report of the other auditors,
the combined financial statements referred to above present fairly, in
all material respects, the financial position of the Kodiak Island
Borough at June 30, 1988, and the results of its operations and the
changes in financial position of its proprietary fund types for the year
then ended in conformity with generally accepted accounting principles.
-1-
F,
1
Our audit was made for the purpose of forming an opinion on the combined
financial statements taken as a whole. The combining, individual fund
and individual account group financial statements and schedules 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. Such information has been subjected to the
auditing procedures applied in our audit of the combined financial
statements and, in our opinion, based on our audit and the report of
other 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.
414-� V
December 21, 1988
u
FJ
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1988
See accompanying notes.
-3-
G Fu
Special
Debt
Capital
ASSETS
General
Revenue
Service
_Projects
Current assets:
Equity in central treasury
$ -
$3,163,614
$1,117,275
$2,321,177
Temporary investments
5,000,961
2,265,244
4,473,809
6,129,654
Other cash and cash
equivalents
3,702
14,499
1,445,913
-
Investment in deferred
compensation plan
-
_
_
_
Receivables:
State of Alaska
968,914
789,685
118,108
55,676
Property taxes, net of
allowance for uncollec-
tibles of $9,133 in
1988 and $11,200 in 1987
2,133,381
-
Land sales contracts,
due within one year
-
257,200
Other, net of allowance
for doubtful receivables
of $312,976 in 1988 and
$179,894 in 1987
111,495
194,364
71,084
230,892
Due from other funds
-
-
-
243,481
Inventories
-
230,064
-
-
Prepaids
49,643
6,130
-
-
Restricted assets:
Equity in central treasury
-
-
Temporary investments
-
Receivable from State of Alaska
-
-
Land sales contracts receiv-
able, due after one year
-
1,978,712
-
-
Borough designated investment
-
-
_
_
Long -term receivable from
Lutheran Hospitals and
Homes Society of America
-
-
-
-
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
-
-
-
-
$8,268,096
$8,899,512
$7,226,189
$8,980,880
See accompanying notes.
-3-
EXHIBIT A
Proprietary
Fiduciary
Totals
Fund Type
Fund Type
Account Groups
(Memorandum
Only)
Agency
General General Long -
Enterprise
Funds
Fixed Assets Term Debt
1988
1987
$ 45,266
$ -
$ - $ -
$ 6,647,332 $
5,768,312
200,000
-
- -
18,069,668
22,577,362
231,508
113,236
- -
1,808,858
1,604,809
-
383,248
- -
383,248
356,886
_
_
- -
1,932,383
2,135,679
2,133,381
2,028,235
_
_
- -
257,200
297,696
1,830,617
236
- -
2,438,688
2,632,687
-
-
243,481
52,023
173,803
_ =
403,867
371,416
_
_
- -
55,773
397,055
180,127
-
- -
180,127
119,057
_
_
_ _
-
750,000
367,813
-
- -
367,813
220,000
_
_
- -
1,978,712
2,090,860
810,397
-
- -
810,397
760,134
r
1,846,000
-
- -
1,846,000
1,118,000
-
-
- 7,245,067
7,245,067
7,423,507
-
-
- 12,642,105
12,642,105
14,210,291
23,521,034
62,026,972
85,548,006
81,796,194
(3,061,592)
-
- -
(3,061,592)
(2,459,917)
87,897
-
9,763,157 -
9,851,054
4,009,951
$26.232.870
$426,720
$71,790,129 $19,887,172
$151,781,568 $148,260,237
-4-
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
(Continued)
June 30, 1988
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:
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
Go Fund Types
Special Debt Capital
General Revenue Service Projects
3,787,908 47,884 - 1,012,499
28,063 289,192 - 258,663
- - - 439,323
- 848,800 -
78,421 607,150 - -
7,934 - 785
- 300 -
2,116,904 2,393,319 - 1,266,532
243,481
- - 2,750,000
- � f
6.0 9,230 4,430,126 785 5,727,017
26,819 129,312 - 5,185,715
- 73,680 - -
s
s
1,250,000 - - -
3
972,047 290,000 7,225,404 1,791,106
3,976,394 - X72
2,248 866 4,469,386 7,225,404 3,253,863
$8,268,096 $8,899,512 $7,226.189 $ 8,980,880
P
See accompanying notes.
j
-5-
i
EXH_I BIT _ A
(Continued)
Proprietary
Fiduciary
Totals
Fund Type
Fund Type
Account
Gro
(Memorandum Only)
Agency
General
General Long -
Enterprise
Funds
Fixed Assets
Term Debt
1988
1987
$ _
$ _
$ _
$ -
$ -
$ 9,710
-
4,848,291
5,070,332
52,000
6,461
-
-
634,379
686,090
_
_
-
-
439,323
297,445
240,451
-
-
-
1,089,251
970,595
-
-
-
-
685,571
652,532
5,967
-
-
-
14,686
27,090
7,301
-
-
-
7,601
10,806
_
_
-
-
5,776,755
5,856,552
-
383,248
-
-
383,248
356,886
_
-
-
-
243,481
52,023
-
107,011
-
-
107,011
101,121
19,995
-
-
-
19,995
364,472
40,651
-
-
-
40,651
146,449
_
_
_
-
-
3,364
-
-
-
133,423
133,423
144,215
-
-
-
19,410,000
22,160,000
25,925,000
-
-
-
343.
343,
36 4 ,5 83
366.365
496,720
-
19,887,172
36,927.4
41,039,265
20,755,422
-
-
-
20,755,422
16,845,592
-
-
71,790,129
-
71,790,129
66,554,875
5,111,083
-
-
-
5,111,083
3,995,692
-
-
-
-
5,341,846
3,122,150
-
-
-
-
73,680
72,166
-
-
-
-
1,250,000
1,250,000
-
-
-
-
10,278,557
12,639,288
-
-
-
-
25
2 ,741.209
25,866,505
-
71,790,129
-
114. 54 ,153
_ 107,220,972
$26.232,870
$426,720
$71.790.129
$19,887,172
$151.781.568
$148.260.237
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
Year ended June 30, 1988
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
Facilities coordinator department
Community and regional affairs liaison
Education support
Economic development
Capital improvements:
Schools
Service district maintenance
General
Debt service
Total expenditures
Excess (deficiency) of revenues over expenditures
Other financing sources (uses):
Insurance proceeds
Asbestos settlement
Demand bond principal payments
Operating transfers in
Operating transfers out
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
Fund balances at end of year
See accompanying notes.
355,902 441,680
5.2 6,553 21,007,502
39,675
Special
General
Revenue
$ 2,491,065
$ 181,091
2,290,007
18,433,953
1,620
788,491
-
588,547
97,959
573,740
355,902 441,680
5.2 6,553 21,007,502
39,675
-
140,529
-
152,543
-
228,706
-
79,491
-
159,481
-
212,139
36,148
64,787
-
465,954
1,415,210
178,519
-
52,430
-
432,211
690,399
82,806
-
80,903
-
26,656
-
5,166
-
177,405
15,467,882
28,668
-
131,240
- 12,634
2.608 17.753.513
2,628.484 3.253.989
114,635 2,490,539
(2.970.000 (4, 612)
(2.855.365 (2.104.073
(226,881) 1,149,916
2,475,747 3,317,955
- 1.515
$ 2.248.866 $ 4.469.386
-7-
EXHIBIT B
Debt Capital
Service Projects
1,280,557
- 5,000
488. 70 x
488,470 1,942,530
7,595,506
1,779,220
5,481 -
5,481,302 9.374.726
(4.992.832 (7.432.196
- 1,414,685
- 634,061
- 2,050,000
4,812,557 893,512
(17,828 (913 ,803)
4.794.729 4.078.455
(198,103) (3,353,741)
7,423,507 6,607,604
$ 7.225.404 $ 3.253.863
Totals
(Memorandum Only)
1988 1987
$ 2,672,156 $ 2,384,653
22,004,517 26,784,912
790,111 935,835
588,547 493,230
676,699 1,802,531
1.943.025 2.210.335
28,675,055 34,611,496
39,675
46,584
140,529
122,886
152,543
154,011
228,706
204,855
79,491
62,876
159,481
160,839
248,287
228,149
64,787
134,126
1,881,164
1,791,192
178,519
277,410
52,430
53,324
1,122,610
1,249,439
82,806
64,629
80,903
21,656
26,656
50,071
5,166
4,613
15,645,287
15,316,326
28,668
70,637
7,595,506
3,187,372
131,240
96,425
1,791,854
7,235,049
5,481,302
6,537,801
35,217,610
37,070,270
(6.542.555 (2.458.774
1,414,685
-
634,061
-
2,050,000
1,850,000
8,311,243
9,350,160
(8,496,243
(9.353,160
3.913.746
1.847.000
(2,628,809)
(611,774)
19,824,813
1.515
20,426,519
10.068
$17.197.519
$19.824.813
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, 1988
neral Fun
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 in
Operating transfers out
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
Fund balances at end of year
122,730
97,959
Variance
228,625
5,007,935
355,902
5,236,553
Favorable
Budget
Actual
( Unfavorable )
$ 2,541,800
$ 2,491,065
$(50,735)
2,114,060
2,290,007
175,947
720
1,620
900
122,730
97,959
(24,771)
127,277
228,625
5,007,935
355,902
5,236,553
228,618
49,100
39,675
9,425
140,900
140,529
371
147,350
152,543
(5,193)
223,940
228,706
(4,766)
76,550
79,491
(2,941)
174,070
159,481
14,589
217,300
212,139
5,161
67,880
64,787
3,093
466,000
465,954
46
176,960
178,519
(1,559)
52,680
52,430
250
432,330
432,211
119
80,000
82,806
(2,806)
105,000
80,903
24,097
15,790
5,166
10,624
11,270
26,656
(15,386)
172,500
177,405
(4,905)
50,000
28,668
21,332
Special Revenue Funds
Bu d eg t
$ 198,590
19,326,453
1,235,427
430,000
523,840
357.330
22,071,640
Actual
$ 181,091
18,433,953
788,491
588,547
573,740
441 ,684
21.007.502
406,220
1,435,188
771,240
36,148
1,415,210
690,399
J
16,624,837 15,467,882
_ _ = 270,860
2.659.620 2.608.069 51,551 19,508,345
2,348,315 2,628,484 280,169
52,680 114,635 61,955
(2.970.000 (2.970.000 -
(2,917,320) (2,855,365) 61,955
(569,005) (226,881) 342,124
2,000,420 2,475,747 475,327
$ 1.431.415 $ 2.248.866 017,451
See accompanying notes.
143,874
17,753,513 r
2,563,295 3,253,989
2,460,879 2,490,539
(5.246.259 (4.594.612
(2,785,380) (2,104,073)
i
(222,085) 1,149,916
3,317,955 3,317,955
1.515 1.515
$ 3.097.385 $ 4.469.386
EXHIBIT C
Debt
Service Funds
Totals
(Memorandum
Only)
Variance
Variance
Variance
Favorable
Favorable
Favorable
( Unfavorable )
Budget
Actual
( Unfavorable )
Budget
Actual
( Unfavorable )
$ (17,499)
$ -
$ -
$ -
$ 2,740,390
$ 2,672,156
$ (68,234)
(892,500)
-
-
-
21,440,513
20,723,960
(716,553)
(446,936)
-
-
-
1,236,147
790,111
(446,036)
158,547
-
-
-
430,000
588,547
158,547
49,900
-
-
-
646,570
671,699
25,129
84,35
�4 4 00
488,470
88,470
985,955
1,286,052
300,047
(1,064,138
400,000
488,470
88,470
27,479,575
26,732,525
(747,050
_
-
-
-
49,100
39,675
9,425
-
-
140,900
140,529
371
_
-
-
-
147,350
152,543
(5,193)
_
_
-
-
223,940
228,706
(4,766)
_
_
-
-
76,550
79,491
(2,941)
-
-
-
-
174,070
159,481
14,589
370,072
-
-
-
623,520
248,287
375,233
_
_
-
-
67,880
64,787
3,093
19,978
-
-
-
1,901,188
1,881,164
20,024
-
_
-
-
176,960
178,519
(1,559)
-
-
-
-
52,680
52,430
250
80,841
-
-
-
1,203,570
1,122,610
80,960
_
_
_
-
80,000
82,806
(2,806)
_
-
-
-
105,000
80,903
24,097
-
_
-
-
15,790
5,166
10,624
-
-
-
-
11,270
26,656
(15,386)
1,156,955
-
-
-
16,797,337
15,645,287
1,152,050
-
_
-
-
50,000
28,668
21,332
126,986
-
-
-
270,860
143,874
126,986
-
4,335,830
3,785,834
549,996
4,335,830
3,785,834
549,996
-
1,811,940
1,546,117
265,823
1,811,940
1,546,117
265,823
-
127,230
148,874
(21,644)
127,230
148,874
(21,644)
225,000
477
224,523
225,000
477
224 ,)2)
1,754,832
6,500,000
5,481,302
1,018,698
28,667,965
25,842,884
2,825,081
690,694
(6,100,000)
(4,992,832)
1,107,168
(1,188,390)
889,641
2,078,031
29,660
5,507,850
4,805,521
(702,329)
8,021,409
7,410,695
(610,714)
651,647
-
(8.216.259
(7,564,612
651,647
681,307
5,507,850
4,805,521
(702,329)
(194,850)
(153,917)
40,933
1,372,001
(592,150)
(187,311)
404,839
(1,383,240)
735,724
2,118,964
-
7,279,292
7,279,292
-
12,597,667
1,515
13,072,994
1,515
475,327
$ 1,372,001
$ 6.687,142
$ 7.091.981
$ 404.839
$11,215.942
$13.810.233
$2.594.291
-10-
EXHIBIT D 1
KODIAK ISLAND BOROUGH
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
Year ended June 30, 1988
with comparative figures for 1987
1
Other income:
Interest income
1988
1987
Revenues:
Water sales
$ 172,875
$ 156,901
Sewer service charges
216,125
184,762
j
Sanitary landfill user fees
449,488
158,942
Patient revenues
6,087,580
5,009,194
Installation charges
33,014
94,463
Other
1 03,333
99. 188
Total revenues
7,062,415
5,703,450
Operating expenses:
Personal services
149,729
50,896
Purchased water and sewer treatment
216,890
235,781
Contracted services
487,465
146,613
Repairs and maintenance
41,463
24,989
Depreciation
626,269
446,413
Installation costs
27,112
76,641
Professional care of patients
2,704,084
2,483,452
Plant operations and household
906,166
875,788
General administrative
1,580,947
1,538,427
E
Other
116,435
22,9
Total operating expenses
6,856,560
5,901,908
Operating income (loss)
205,855
(198,458
's
Other income:
Interest income
22,933
95,900
Other, primarily State of Alaska
revenue sharing
34 3_.101
317.603
366.034
413.503
Earnings before operating transfers
5 71 x 882
215,045
Operating transfers in
290,000
-
Operating transfers out
x.1 05.00 0)
-
Net operating transfers
185,00
-
Net earnings
756,889
215,045
Amortization of contribution
in aid of construction
3 58 502
1 27 1 077
Increase in retained earnings
1,115,391
412,122
Retained earnings at beginning of year
3.995,69
3.583,570
Retained earnings at end of year
$5,111.083
$3,995.692
See accompanying notes.
KODIAK ISLAND BOROUGH
EXHIBIT E
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended June 30, 1988
with comparative figures for 1987
Sources of working capital:
Operations:
Net earnings
Add: Depreciation which does not
use working capital
Working capital provided by operations
State of Alaska grants
Contribution from the Kodiak Island Borough
General Fund for purchase of equipment
Net decrease in restricted assets
Total sources of working capital
Uses of working capital:
Acquisition of fixed assets
Increase in long -term receivable
Funding of Borough designated investments
Net decrease in current liabilities payable
from restricted assets
Total uses of working capital
Increase (decrease) in working capital
Changes in components of working capital:
Increase (decrease) in:
Current assets:
Equity in central treasury
Other cash and cash equivalents
Receivables
Inventories
Prepaid expenses
Current liabilities:
Bank overdraft
Advance from central treasury
Accounts payable
Customer deposits
Accrued liabilities
Increase (decrease) in working capital
1988 1987
$ 756,889 $ 215,045
626,269
44
1,383,158
661,458
4,225,017
2,042,496
43,315
140,318
541,117
2,767.985
6,192.607
5,612.257
4,382,255 2,276,245
728,000 298,000
50,263 760,134
453.639 2 ,866, 281
5,614 157 6,200,660
$ 578,450 $ (588,403
$ (115,573) $
12,911
431,508
(56,448)
245,566
(479,558)
27,559
11,870
(9,710)
(2,601)
(2,994)
(3,205)
29,120
10,610
578,450
(12,3
(523,555
9,710
2,601
4,906
3,786
43,845
64,848
$ (588,403
See accompanying notes.
-12-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1988
I. 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 funds, account groups, agencies
and organizations over which the Borough exercises oversight responsibility.
Oversight responsibility is derived from the Borough's power and includes,
but is not limited to (a) financial interdependency, (b) selection of
governing authority, (c) ability to significantly influence operations and
(d) accountability for fiscal matters. The Borough reviewed its relationship
with other organizations and determined that it exercised oversight
responsibility over the following two organizations.
Kodiak Island Borough School District: 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 Assembly approves the total annual budget of the
School District and may, during the year, increase or decrease the total
appropriation. The Borough levies and collects taxes for the School
District. 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.
Kodiak Island Borough Hospital: 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.
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, 1987, and the results of operations for
the year then ended.
-13-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued)
Presentation
The combined financial statements provide a summary overview of the financial
position of all funds and account groups and of the operating results of all
funds. These combined statements have been prepared from the detailed 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
proceeds of specific revenue sources (other than special assessments and
major capital projects) that are legally restricted to expenditures for
specific purposes.
-14-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued)
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-
cipal, interest and related costs.
Ca pital Projects F - Capital Projects Funds are used to account for
financial resources to be used for acquisition or construction of major
capital facilities and equipment.
PROPRIETARY FUND TYPE
Enterprise Funds - The Enterprise Funds are used to account for operations
(a) that are financed and operated in a manner similar to private business
enterprises where the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods or services to the
general public on a continuing basis be financed or recovered primarily
through user charges or (b) where the governing body has decided that
periodic determination of revenues earned, expenses incurred, and /or net
income is appropriate for capital maintenance, public policy, management
control, accountability or other purposes.
FIDUCIARY FUND TYPE
Agen Fu nds - To account for assets held by the Borough as an agent for
individuals and other entities. These funds are custodial in nature (assets
equal liabilities) and do not involve measurement of results of operations.
ACCOUNT GROUPS
The accounting and reporting treatment applied to the fixed assets and long-
term liabilities associated with a fund are determined by its measurement
focus. Governmental Fund Types are accounted for on a spending or financial
flow measurement focus. This means that only current assets and current
liabilities are generally included on their balance sheets. Their reported
fund balances (net current assets) are considered a measure of available
spendable resources. Governmental Fund Type operating statements present
increases (revenues and other financial sources) and decreases (expenditures
and other financial uses) in net current assets. Accordingly, they are said
to present a summary of sources and uses of available spendable resources
during a period.
The two account groups are not funds. They are concerned only with the
measurement of financial position. They are not involved with measurement of
results of operations.
-15-
- 1
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
' June 30, 1988
1 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued)
General Fixed Assets
' Fixed assets used in Governmental Fund Type operations (general fixed assets)
are recorded as expenditures of the various Borough funds at the time of
purchase and are subsequently capitalized 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, including roads,
' bridges, curbs and gutters, streets and sidewalks, drainage systems and
lighting systems, are not capitalized. No depreciation has been provided on
general fixed assets.
All fixed assets are valued at historical cost or estimated historical cost
if actual historical cost is not available. Donated fixed assets are valued
at their estimated fair value on the date donated.
General Long -Term Debt
Long -term liabilities expected to be financed from Governmental Fund Types
are accounted for in the General Long -Term Debt Account Group, not in the
Governmental Fund Types.
Noncurrent portions of long -term receivables due to Governmental Fund Types
are reported on their balance sheets, in spite of their spending measurement
focus. Special reporting treatments are used to indicate, however, that they
should not be considered available spendable resources since they do not
represent net current assets. Recognition of Governmental Fund Type revenues
represented by noncurrent receivables is deferred until they become current
' receivables. Noncurrent installments of long -term loans receivable are
offset by fund balance reserve accounts.
Because of their spending measurement focus, expenditure recognition for
Governmental Fund Types is limited to exclude amounts represented by 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.
-16-
i
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued)
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:
Utility 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 and Sanitary
Landfill Enterprise Funds are amortized over the estimated useful lives of
the assets acquired using the straight -line method.
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. Prepayment of insurance and similar services extending
over more than one year are allocated to the years benefitted.
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:
-17-
1
1
1
n
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
B. Basis of Accounting (Continued)
Property Taxes
Property taxes are based on the assessed value of taxable property as of
January 1. Pursuant to Alaska Statute 29.53.170, the Borough establishes the
mill rate on or before June 15. Tax bills 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; 1988
property tax revenue is represented primarily by calendar year 1987 property
taxes received during the year ended June 30, 1988 or 60 days thereafter.
At June 30, 1988, the 1988 real and personal property tax levy of $2,116,904
is reflected as deferred revenue of the General Fund.
Intergo ernmental Revenue
State of Alaska shared revenues, State of Alaska municipal assistance,
Federal shared revenue, and various State education - related entitlement
programs and State levied taxes (the proceeds of which are distributed to
local governments) are recorded in the fiscal year to which they relate,
including accrual at year end of final payments due within approximately two
to three months after year end.
State of Alaska and Federal government cost reimbursable grants and contracts
(including grants for construction) are recorded to the extent of allowable
expenditures in the period in which the expenditures were incurred.
Revenue from Investments and Property
Amounts earned on investment of available cash balances and the rental of
building facilities are recorded in the period to which they relate,
including accrual at year end of balance due.
Land Sales 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
consistent with their nature in relation to measurement and availability
standards.
The Proprietary Fund Type is accounted for using the accrual basis of
accounting. Its revenues are recognized when they are earned and its
expenses are recognized when they are incurred.
-18-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
B. Basis of Accounting (Continued)
The Fiduciary Fund Type (Agency Fund) is accounted for using the modified
accrual basis of accounting similar to that utilized by Governmental Fund
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.
(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.
Budgeted amounts for 1988 are as originally adopted (including
supplemental appropriations on February 4, 1988 and May 5, 1988) or as '
amended by the Borough Assembly on March 17, 1988. Material
appropriation changes were a $290,000 transfer from the general fund
for operations of the sanitary landfill and the additional '
appropriation of approximately $2,737,000 for capital projects.
-19- 1
1 KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Budgets and Budgetary Accounting (Continued)
g g Y
e. Expenditures may not legally exceed appropriations at the following
levels: General Fund - department level; Capital Projects Funds -
project level; all other funds - fund level.
f. All funds are budgeted on an annual basis encompassing a fiscal year,
except that budgets of Capital Projects Funds generally encompass the
period of project completion which is generally greater than one year.
g. Appropriations lapse at year end to the extent that they have not been
expended for all funds except Capital Projects Funds, which lapse at
project completion.
h. Budgets adopted by the Borough Assembly are in accordance with
generally accepted accounting principles.
The School 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,
1988, there were two formal budget revisions to adjust the revenues and
expenditures to available resources and program needs.
The Hospital
Hospital operations are not legally required to be budgeted.
D. Assets, Liabilities and Fund Equity
Interfund Transactions
Transactions that would be treated as revenues, expenditures or expense if
they involved organizations external to the borough are similarly treated if
they occur between the fund types. Reimbursements from one fund to another
are treated as expenditures or expenses of the reimbursing fund and a
reduction of the expenditures or expenses of the reimbursed fund. Transfers
from funds receiving revenues to funds through which the resources are to be
expended, and operating loss subsidies are classified as operating
transfers. Nonrecurring or nonroutine transfers of equity between funds are
recorded as equity transfers.
-20-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
D. Assets, Liabilities and Fund Equity (Continued)
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
reservations of fund balances since they do not constitute expenditures or
liabilities.
INVENTORIES
The Kodiak Island Borough
Expendable operating supplies of the Borough are accounted for using
the
purchase method and, at June 30, 1988, there was no significant amount
of
such items.
The School District
'
Expendable operating supplies of the School District, consisting primarily
of
teaching, maintenance and food supplies, are accounted for using the 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. '
-21-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
� I
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
D. Assets, Liabilities and Fund Equity (Continued)
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.
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 treasury ". In addition, investments are
separately held by several of the Borough's funds. Investments are carried
at cost.
Deposits
' At June 30, 1988, the carrying amount of the Borough's deposits was
$3,035,016 and the bank balance was $2,591,352. Of the bank balance,
$2,435,831 was covered by FDIC or other insurance or by collateral held by
the Borough's agent in the Borough's name and $155,521 was uninsured and
uncollateralized. The uninsured and uncol lateral ized deposits consist of the
amount by which demand deposits exceeded FDIC insurance.
' The above deposits are reported under the following captions in the combined
financial statements:
Equity in central treasury $ 808,762
Temporary investments 1,863,309
Other cash and cash equivalents 362.945
$3.035.016
-22-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
2. CASH AND TEMPORARY INVESTMENTS (Continued)
Investments
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 institution or by
its trust department but not in the Borough's name.
The above investments are reported under the following captions in the I
combined financial statements:
Temporary investments $16,206,359
Equity in central treasury 1,170,406
$17.376.765 '
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 pledging bank's name by the third party bank.
Other Cash and Investments I
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 compensation plan administrators ($383,248)
and cash with fiscal agents for payment of bond principal and interest
($1,445,913).
-23- 1
Category
Carrying
'
_ 1._ 2 3
Amount
Market Va lue
Repurchase agreements
$ — $ — $3,670,406
$ 3,670,406
$ 3,670,406
U.S. Government Securities
941,038 4,000,000 —
4,941,038
4,998,361
'
Municipal Securities
3,802,412 — —
3,802,412
3,337,700
Banker's Acceptances
2,899,180 — —
2,899,180
2,922,275
Commercial Paper
937,094 — —
937,094
998,311
X8,579.724 $4,000.000 $3.670,406
16,250,130
15,927,053
r
Investment in broker —
dealer U.S. Government
securities fund
1.126,635
1.126.635
$17.376.765
$17,053.688
The above investments are reported under the following captions in the I
combined financial statements:
Temporary investments $16,206,359
Equity in central treasury 1,170,406
$17.376.765 '
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 pledging bank's name by the third party bank.
Other Cash and Investments I
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 compensation plan administrators ($383,248)
and cash with fiscal agents for payment of bond principal and interest
($1,445,913).
-23- 1
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
2. CASH AND TEMPORARY INVESTMENTS (Continued)
Investments (including time certificates of deposit) made by the Borough are identified by the
specific funding source. A summary of these investments at cost on June 30, 1988 follows:
Special Debt Capital Enter —
General Revenue Service Projects prise
Fund Funds Funds Funds Funds Total
Repurchase agreements —
National Bank of
Alaska
6.5 — 7.0%
United States Govern—
ment Securities:
Seattle First
National Bank
6.7%
7.35%
7.75%
8.9%
Merrill Lynch,
Pierce, Fenner
and Smith, Inc.
8.45%
Municipal Securities:
Paine Webber, Inc.
4.0 — 7.0%
Banker's Acceptances:
Merrill Lynch,
Pierce, Fenner
and Smith, Inc.
7.21%
7.25%
7.84%
Commercial Paper:
Merrill Lynch,
Pierce, Fenner
and Smith, Inc.
9.01%
United States Govern—
ment Securities Fund:
Merrill Lynch,
Pierce, Fenner
and Smith, Inc.
Cash management
account
Total temporary
investments
Time certificates of
deposit:
Bank of Tokyo
zero coupon
Alliance Bank
of Alaska
6.05%
First Federal Bank
of Alaska, S.B.
6.75%
Total deposits
$11 00 0.000 300_,000 $1.000.000 $ $ 200,000 2.5 Q
1.000.000 300.000 1.000.000 — 200.000 2.500.000
1,000,000 1,000,000
1,000,000 1,000,000
1,000,000 1,000,000
1,000,000 1,000,000
941.038
2.000.000 1.000.000 9
1.673.809 2.128.603
1.673.809 2.128.603
— 970,945
— 965,244 — —
962.991 — —
962.991 965.244 — 970.945
937. 424
937.094
94 1_, 03$
4.941.038
3.802.412
3,802.412
970,945
965,244
962.9
2.899.180
_ 9 3Z-094_
937.094
1,037,970 — — 88.665 — 1 126.635
1.037.970 — 88.665 — 1.126.635
5.000.961 2.265.244 3.673.809 5.066.345 200.000 16.206.359
966,701 — 966,701
800,000 800,000
96.608 96.608
800.000 1.063.309 — 1.863.309
$5.000.961 SZ.265.244 $4.473.809 16.129.654 $200.000 $18.069.668
-24-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
3. ANNUAL APPROPRIATION TO THE SCHOOL DISTRICT
An annual appropriation is made to the School District in order to provide
the School District with total resources in a fiscal year equal in amount to
budgeted expenditures.
In addition to the annual appropriation, the Borough provides the School
District, without charge, general liability and property insurance and the
annual independent audit.
4. HOSPITAL APPROPRIATION
By terms of the operating agreement with the Lutheran Hospitals and Homes
Society of America, the Borough is ultimately 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
$175,000, required to be passed through to the Hospital. The Borough
recorded this amount as intergovernmental revenue and the pass- through as an
expenditure for Hospital support.
5. RETIREMENT COMMITMENTS
As of June 30, 1988, substantially all employees of the Borough and School
District participate in either the Alaska Public Employees' Retirement System
(PERS, an agent multiple - employer PERS) or the Alaska Teachers' Retirement
System (TRS, a cost - sharing, multiple- employer PERS). Borough personnel and
School District classified personnel (except those working less than fifteen
hours per week) participate in PERS. School District certificated personnel
participate in TRS. Both systems are statewide defined benefit retirement
plans, administered by the State of Alaska.
Plan Descriptions and Provisions
Public Employees' Retirement System (PERS
Employees hired prior to July 1, 1986 with five or more years of credited
service are entitled to annual pension benefits beginning at normal
retirement age 55 or early retirement age 50. For employees hired after June
30, 1986, the normal and early retirement ages are 60 and 55, respectively.
The normal pension benefit is equal to 29 of the member's highest three
average monthly compensation for the first ten years of service, 2 -1/4% for
the second ten years of service and 2 -1/2% for the third ten years of
service. All service earned prior to July 1, 1986 will be calculated using
the 2% multiplier. Employees with 30 or more years of credited service may
retire at any age and receive a normal benefit. The system also provides
death and disability benefits and major medical benefits.
-25-
FA
t
CI
LF1
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
5. RETIREMENT COMMITMENTS (Continued)
Plan Descriptions and Provisions (Continued)
Under state law, covered employees are required to contribute 6.75% of their
annual salary to the System and the employer contributes the amount
actuarially required in addition to employee contributions to finance the
benefits of the system.
Teacher Retirement Sys tem _(TR$ The Teachers' Retirement System of Alaska
is a joint contributory retirement system to provide benefits for teachers of
the State of Alaska. All the District's certificated employees are
participants in TRS. Membership in TRS is compulsory for each certificated
elementary or secondary teacher or other certificated personnel who are
employed on a full -time or part -time basis in positions that require teaching
certificates as a condition of employment.
Employees with eight years or more of credited service are entitled to
pension benefits beginning at normal retirement age (55) equal to 2% of their
highest three -year average monthly compensation for each year of service.
The Plan permits early retirement at age 50. Employees may elect to receive
their pension benefits in the form of a joint or survivor annuity. Effective
January 1, 1987, a married member who retires must receive his benefit in the
form of a joint and survivor annuity unless the member's spouse consents to
another form of benefit. Minimum benefits for employees eligible for
retirement are $25 per month for each year of credited service. In addition,
major medical benefits are provided. TRS also provides death and disability
benefits.
Under state law, covered employees are required to contribute 79 of their
base salary earned from July 1 to the following June 30. The School District
is required to contribute the amount actuarially needed in addition to member
contributions to finance the benefits of the System.
Funding Status and Progress
The amount shown below as the "pension benefit obligation" is a standardized
disclosure measure of the present value of pension benefits, adjusted for the
effects of projected salary increases and step -rate benefits, estimated to be
payable in the future as a result of employee service to date. The measure
is intended to help users assess the funding status of the System on a
going- concern basis, assess progress made in accumulating sufficient assets
to pay benefits when due, and make comparisons among employers. The measure
is the actuarial present value of credited projected benefits and is
independent of the funding method used to determine contributions to the
System.
-26-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
5. RETIREMENT COMMITMENTS (Continued)
Funding Status and Progress (Continued)
The pension benefit obligation was computed as part of an actuarial valuation
as of June 30, 1987. Significant actuarial assumptions used in the valuation
include (a) a rate of return on the investment of present and future assets of
9 percent per year compounded annually, (b) projected salary increases of 6.5
percent a year for the first five years of employment and 5.5 percent per year
thereafter.
Net assets available for benefits exceed the pension benefit obligation
applicable to the Borough and School District's non - certificated employees by
$894,000 at June 30, 1987. The TRS system does not make separate measurements
of assets and pension benefit obligations for individual employers. Amounts
for TRS were actuarially determined at June 30, 1987 and represent the system
as a whole. Amounts shown in the following table for PERS and TRS are in
thousands.
TRS
Total
PERS System (A)
Pension benefit obligation:
Retirees and beneficiaries currently
receiving benefits and terminated
employees not yet receiving benefits
Current employees:
Accumulated employee contributions
including allocated investment earnings
Employer -- financed vested
Employer -- financed nonvested
TOTAL PENSION BENEFIT OBLIGATION
Net assets available for benefits,
valued on a three year average
ratio between market and book values
of the System's assets except that
fixed income investments are valued
at book value
$2,068 $ 578,468 1
838
210,493
3,017
353,326
1,090
68,622
7,013
1,210,909
7,907 _ "225 _ ,Q0
ASSETS IN EXCESS OF PENSION BENEFIT OBLIGATION 894 $ 14,100
(A) The District's contribution to TRS was 1.3% of total employer
contributions to TRS for the year ended June 30, 1988.
-27-
t
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
' June 30, 1988
5. RETIREMENT COMMITMENTS (Continued)
Funding Status and Progress (Continued)
The PERS pension benefit obligation of the District at June 30, 1987 has
increased $542,000 as a result of changes in benefits.
' Actuarially Determined Contribution Requirements and Contributions Made
The System's funding policy provides for actuarially determined periodic
' contributions at rates that fund each participant's benefits under the plan
as they accrue. The contribution rate for normal cost is determined using
the projected unit credit actuarial funding method. The unfunded accrued
benefit liability is amortized over 25 years. Actuarial funding surpluses
are amortized over five years.
' The significant actuarial assumptions used to compute the actuarially
determined contribution requirement are the same as those used to compute the
pension benefit obligation.
' The Systems have an actuarial valuation performed annually (as of June 30)
which determines the contribution rates for the year ended two years
subsequent to the valuation date. The contributions to the Systems for
fiscal year 1988 were made in accordance with actuarially determined
requirements computed through an actuarial valuation performed as of June 30,
1986. The contributions (in thousands) consisted of the following:
PERS
P
Borough
District
TRS
Percent of
Percent of
Percent of
Covered
Covered
Covered
Amount
Payroll
Amount
Payroll
Amount
Payroll
Covered payroll
$1,830
100.0
$2,473
100.0
$7,123
100.0
Contributions:
Normal cost
$ 310
16.95
$ 419
16.95
$1,175
16.50
Amortization of
unfunded lia-
bility (funding
surplus)
18)
1.00)
(98
(3.96)
304
4.26
321
12.99
1 47
20.76
TOTAL
2 2
15.95
Employer
$ 168
9.20
$ 154
6.24
$ 980
13.76
'
Employee
124
6.75
167
6.75
499
7.00
TOTAL
2 2
15.95
321
12.99
1 47
20.76
t Total
current year
payroll for
the Borough and
District was
$11,847,000.
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
5. RETIREMENT COMMITMENTS (Continued)
Trend Information
Trend information gives an indication of the progress made in accumulating
sufficient assets to pay benefits when due. The pension benefit obligation
has not been determined by the actuary for years prior to June 30, 1987. As
a result, only information at June 30, 1987 is available regarding the
following trend indicators:
PERS
Borough District
Assets available as a percentage of
the pension benefit obligation 115% 112%
Assets in excess of pension
benefit obligation, expressed as
percentage of covered payroll 16% 24%
The Borough and District's contributions, which were made in accordance with
actuarially determined requirements, have shown the following trend as a
percentage of covered payroll for the three years ended June 30:
Borough Distric
PERS PERS IRS
1986
1987(A)
1988
11.26 12.65 8.88
4.27 7.29 6.88
9.20 6.24 13.76 (B)
(A) The reduction in PERS contribution rates between 1986 and 1987 was
primarily due to changes in actuarial assumptions.
(B) Beginning in 1988, the District is required to fund all of the
actuarially required annual amount in excess of participant
contributions; previously, the State of Alaska and the District had each
funded 50% of this requirement.
-29-
t
u
F,
�'l
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
5. RETIREMENT COMMITMENTS (Continued)
Retirement Incentive Program
A Retirement Incentive Program (RIP) was established on May 15, 1986 under
House Bill 382. The Program was designed to encourage eligible employees to
voluntarily retire in order to reduce personnel service costs. The program
was available through 1987. The System was to be reimbursed by the
participating employer for the actuarial equivalent of the difference between
the benefits the member receives after the addition of the retirement
incentive under the program and the amount the member would have received
without the incentive, less the amount the participant has paid as part of
retiring under the program. The District paid the RIP obligation for TRS
during 1987. During 1988, the Borough and District paid $212,057 toward
their obligation for PERS leaving a balance due of $18,282 at June 30, 1988.
6. FIXED ASSETS
A summary of changes in the General Fixed Assets Account Group for the year
ended June 30, 1988 follows:
The following is a summary of enterprise fund -type fixed assets at June 30,
1988:
Unclassified utility plant in service $17,874,571
Hospital building and fixed equipment 4,012,091
Major movable equipment 1,634,372
Less: accumulated depreciation (3,061,592)
Construction work in progress 87,897
Net fixed assets $20,547,339
-30-
Balance
Balance
J uly 1. 1987
Additions
Deductions
June 30, 1988
Land
$ 7,469,315
$ -
$ -
$ 7,469,315
Buildings
51,973,292
131,000
1,290,623
50,813,669
Improvements other
than buildings
3,863,474
111,900
3,133,235
842,139
Machinery and equipment
2,567,349
399,694
65,194
2,901,849
Construction work
in progress
681,445
9,302,946
221,234
9,763,157
$66,554,875
$9,945.540
$4,710,286
$71,790.129
The following is a summary of enterprise fund -type fixed assets at June 30,
1988:
Unclassified utility plant in service $17,874,571
Hospital building and fixed equipment 4,012,091
Major movable equipment 1,634,372
Less: accumulated depreciation (3,061,592)
Construction work in progress 87,897
Net fixed assets $20,547,339
-30-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
7. DEMAND BONDS
Long -Term Debt
Included in long -term debt is $8,000,000 of general obligation demand bonds
maturing serially through June 1, 1996 backed by the full faith, credit, and
taxing power of the Borough. The bonds were issued pursuant to an ordinance
adopted by the Borough Assembly on February 6, 1986. The proceeds of the
bonds were used to (a) provide funds for certain school improvements and (b)
pay costs incurred to issue the bonds. The redemption schedule for these
bonds is included in the bond redemption schedule in Note 9.
The bonds are subject to purchase on the demand of the holder at a price
equal to principal plus accrued interest on seven days' notice and delivery
to the Borough's remarketing agent, John Nuveen and Co. The remarketing
agent is authorized to use its best efforts to sell the repurchased bonds at
a price of not less than the principal amount plus accrued interest.
Under an irrevocable letter of credit issued by Barclays Bank PLC, the
trustee is entitled to draw an amount sufficient to pay the purchase price of
bonds delivered to it. The letter of credit is valid through June 11, 1991
and carries a variable interest rate which increases over time from the
institution's prime lending rate to prime plus 1 -1/2%.
If the remarketing agent is unable to resell any bonds that are "put" within
the notice period then the Borough has 365 days to repay the bank.
The Borough is required to pay to Barclays Bank PLC an annual commitment fee
for the letter of credit of 3/4 of 1 percent per annum of the outstanding
principal amount of the bonds, plus 65 days of interest at an interest rate
of 15 percent. The Borough has also paid a letter of credit fee of $25,000
to Barclays Bank PLC. In addition, the remarketing agent receives an annual
fee of one - eighth of 1 percent of the outstanding principal amount of the
bonds.
Fund Liability
Included as a fund liability of the School Bond Improvements Capital Project
Fund is $2,750,000 of general obligation demand bonds maturing serially
through July 1, 1989 backed by the full faith, credit, and taxing power of
the Borough. The bonds were issued pursuant to an ordinance adopted by the
Borough Assembly on April 14, 1984.
The proceeds of the bonds were used to provide funds for certain school
improvements. The remaining bonds of this issue are to be redeemed at
$550,000 quarterly starting with the payment due July 1, 1988.
-31-
i
1
1
u
C
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
7. DEMAND BONDS (Continued)
Fund Liability (Continued)
The bonds are subject to purchase on the demand of the holder at a price
equal to principal plus accrued interest on seven days' notice and delivery
to the trustee. The sales agent, John Nuveen and Co., is authorized to use
its best efforts to sell the repurchased bonds at par plus accrued interest.
Under an irrevocable letter of credit issued by Rainier National Bank, the
trustee is entitled to draw an amount sufficient to pay the purchase price of
bonds delivered to it. The letter of credit is valid through July 15, 1989
and carries a variable interest rate over time from 75 percent to 100 percent
of the bank's prime rate.
If the sales agent is unable to resell any bonds that are "put" within the
notice period then the Borough is required to repay the bank the same day as
the draw on the letter of credit.
The Borough is required to pay to Rainier National Bank an annual facility
fee for the letter of credit of from 3/4 of one percent to one percent of the
outstanding principal amount of the bonds, plus 125 days of interest at an
interest rate of 20 %. In addition, the sales agent receives an annual fee of
one - fourth of one percent of the outstanding principal amount of the bonds.
8. DEMAND BOND RECLASSIFICATION
The 1984B general obligation school improvement bonds have been reclassified
from long -term debt to a fund liability of the School Improvement Capital
Project Fund since the bonds are due on demand and there is currently no
long -term take out agreement.
The effect of this reclassification on 1987 amounts is as follows:
Previously
Reported
Adjustment
As Restated
'
Amount to be provided to
service long -term debt
$19,010,291
$(4,800,000)
$14,210,291
Fund balance designated for
subsequent year expenditures
17,439,288
(4,800,000)
12,639,288
Capital Projects Funds:
Beginning fund balance
12,316,358
(6,650,000)
5,666,358
Other financing sources
-
1,850,000
1,850,000
Ending fund balance
11,407,604
(4,800,000)
6,607,604
General obligation demand
bonds payable
-
4,800,000
4,800,000
-32-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
9. LONG —TERM DEBT
The following is a summary of general obligation debt for the year ended June 30, 1988:
Interest Payments
General Issue Maturity
Obligation Bonds Rates Dates Date Date Dates Amount
Serial bonds:
Schools 5% 9/1 -3/1
Schools refunding 7.25% 8/1 -2/1
Schools
7.3 -9% 8/1 -2/1
1/1/67 9/1/87
8/1/74 8/1/92
8/1/88
8/1/89
8/1/90
8/1/91
8/1/92
8/1/80 8/1/2000
8/1/88
8/1/89
8/1/90
8/1/91
8/1/92
8/1/93
8/1/94
8/1/95
8/1/96
8/1/97
8/1/98
8/1/99
8/1/00
Schools, Multi— projects Variable Quarterly 5/28/86 6/1/96 9/1/88
to
6/1/96
$ 250,000
270,000
290,000
310,000
330,000
465,000
500,000
540,000
585,000
630,000
680,000
735,000
795,000
860,000
925,000
1,000,000
1,080,000
1,165,000
250,000
X 32
8.000.
$19.410.000
-33-
Authorized Prior Years Current Year
Balance at Balance at
Year Amount Issued Retired July 1. 1987 Issued Retired June 30. 1988
1965 $ 750,000 $ 750,000 $ 700,000 $ 50,000
1974 1,900,000 1,900,000 215,000 1,685,000
1979 12,100,000 12,100,000 1,710,000 10,390,000
1986 9,930,000 9,930,000 930,000 9,000,000
$24.680.000 $24.680.000 $ 3.555.000 $21.125.000
$ 50,000 $ —
235,000 1,450,000
430,000 9,960,000
1,000,000 8,000,000
$1.715.000 $19.410.000
-34-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
9. LONG -TERM DEBT (Continued)
United States En vironmental 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 $10,417 commencing on 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, 1988
follows:
Balance at Balance at
July 1, 1987 Additions Retirements June 30, 1988
General obligation
bonds $21,125,000 $ - $1,715,000 $19,410,000
EPA loan payable 364,583 - 20,834 343,749
Accrued annual leave 144,215 133,423 144,215 133,423
$21.633.798 $133,423 $1.880.049 $19.887.172
The annual requirements to amortize all general obligation debt and the EPA
loan payable outstanding as of June 30, 1988, including interest payments of
$8,882,857 on the general obligation debt, are as follows:
Annual Requirements to Amortize long -term debt
Year Ending
General
June 30
Obligation
EPA Loan
1989
$ 3,190,691
$ 20,834
1990
3,103,414
20,834
1991
3,020,904
20,834
1992
2,943,093
20,834
1993
2,860,072
20,834
1994
2,438,802
20,834
1995
2,359,481
20,834
1996
2,279,200
20,834
1997
1,228,000
20,834
1998
1,221,600
20,834
1999
1,219,600
20,834
2000
1,216,400
20,834
2001
1,211,600
20,834
2002 -2005
-
72,907
$28.292.857
$343,74
-35-
KODIAK ISLAND BOROUGH
' NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
' 9. LONG -TERM DEBT (Continued)
The amount of $7,111,644 is available in the Debt Service Funds to service
all general obligation the $2,750,000 in general obligation
g ation bonds (including
demand bonds reported in the capital project funds).
' 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.
Refunding Bonds
' During 1974, the Borough defeased existing school 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, 1988 are summarized as follows:
Bond Principal Investments
Outstanding Held in Trust
t Series 1974 School bonds, 5.590 to
5.7%, due in installments to 1992 $1,535,000 $1,545,510
*Central Bank of Denver as Trustee
' 10. CAPITAL PROJECTS FUNDS CONSTRUCTION COMMITMENTS
A summary of Capital Projects Funds construction commitments at June 30, 1988
t follows:
Various Borough Projects $ 183,090
School Bond Improvements Fund 4,652,504
' School Equipment and Furnishings Fund 97,329
State Capital Grants Fund 252,792
1 $5,185,715
Resources are presently available or committed to finance construction
commitments at June 30, 1988 for all funds except the School Bond
' Improvements Fund. The additional resources required in this fund will be
available during fiscal year 1989.
-36-
1
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS ,
(Continued)
June 30, 1988 '
11. ENTERPRISE FUND SEGMENT INFORMATION I
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, 1988 for the water
and sewer utility and landfill and as
of and for
the year ended December
31, 1987 for the
Hospital are
as follows:
'
Sanitary
Water and
Landfill Sewer Utility
Hospital
Total
$ 7,062,415
'
Operating revenues
$ 449,488
$ 434,727
$6,178,200
Depreciation
56,092
303,559
266,618
626,269
Operating income (loss)
(287,447)
(227,083)
720,385
205,855
Operating grants
'
entitlements
-
-
343,101
343,101
Operating transfers
in (out)
290,000
(105,000)
-
185,000
'
Net earnings (loss)
2,553
(309,150)
1,063,486
756,889
Contributions in aid
of construction:
Additions
2,412,453
1,812,564
43,315
4,268,332
'
Amortization
54,974
303,528
-
358,502
Property, plant and
equipment additions
2,434,813
1,812,564
134,878
4,382,255
'
Net working capital
46,337
257,070
1,872,068
2,175,475
Total assets
2,427,839
15,554,728
8,250,303
26,232,870
Total equity
2,425,058
15,476,976
7,964,471
25,866,505
12. 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, t
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.
-37-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
12. DEFERRED COMPENSATION PLAN -- Continued
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.
13. INDIVIDUAL FUND DISCLOSURES
Interfund Receivables and Payables
A summary of interfund receivables and payables at June 30, 1988 is as
follows:
Receivable Payable
Special Revenue Funds - Education $243,481
Capital Projects Funds - School
Equipment and Furnishings $243,481
Fund Deficits
The following road service district funds have fund deficits at June 30, 1988:
Women's Bay $15,076
Bayview $ 907
These deficits will be funded through increased fiscal year 1989 property tax
levies.
Excess of Expenditures Over Appropriations
The Bayview Road Service District Fund expenditures exceeded appropriations
by $596.
The following capital projects had expenditures in excess of appropriations
in the indicated amounts.
47 -263 Solid Waste Facility $152,618
47 -209 Undesignated Projects 140,273
14. OTHER FINANCING SOURCES
Insurance Proceeds
In November 1987, the Port Lions school was extensively damaged by fire.
Insurance proceeds are estimated at $1,746,000 of which $1,414,685 has been
received in the current year and recorded as an other financing source in the
School Bond Improvement Capital Project Fund.
-38-
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
(Continued)
June 30, 1988
14. OTHER FINANCING SOURCES (Continued)
Asbestos Settlement
During 1988, the Borough and School District agreed to a settlement of their
asbestos -in- buildings litigation with W.R. Grace & Co. Under terms of the
settlement, the Borough will receive an estimated $1,268,000 (net of attorney
fees) of which $634,061 has been received in the current year and recorded as
an other financing source in the School Bond Improvement Capital Project Fund.
15. CONTINGENCIES
Litigation
The Borough, in the normal course of its activities, is involved in various
claims and pending litigation.
In the opinion of management, the disposition of the claims and litigation is
not presently expected to have a material adverse effect on the Borough's
financial statements.
Grants
Amounts received or receivable from grantor agencies are subject to audit and
adjustment by the grantor agencies. Any disallowed claims, including amounts
already collected, would become a liability of the General or other
applicable funds. In management's opinion, disallowances, if any, will be
immaterial.
-39-
F�
1
F�
t
1
r
F,
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, 1988
with comparative figures for 1987
ASSETS
Schedule 1
1988 1987
Temporary investments $5,000,961 $4,502,444
Other cash 3, 702 1,70
Total cash and investments 5,004,663 4,504,144
Receivables:
State of Alaska 968,914 988,582
Property taxes:
Areawide tax role due in subsequent year 2,116,904 1,990,200
Delinquent taxes 25,610 49,235
Allowance for uncollectible delinquent taxes (9.13 -3) (11,200
Net property taxes 2,133,381 2,028,235
Accrued interest receivable 91,246 78,492
Other 20,249 23,240
Net receivables 3,213,790 3,118,549
Prepaids 49,643 66,142
$8,268,096 $7,688,835
LIABILITIES AND FUND BALANCE
Liabilities:
Advance from central treasury
$3,787,908
$3,157,151
Accounts payable
28,063
27,440
Payroll taxes and employee benefits
78,421
36,982
Other accrued liabilities
7,934
1,315
Deferred revenue - areawide tax
role due in subsequent year
2,11
1 .2.20 ,2 00
Total liabilities
6,019,230
5,213,088
Fund balance:
Reserved:
Encumbrances
26,819
40,376
Unreserved:
Designated:
Working capital
1,250,000
1,250,000
Subsequent year expenditures
972,0
1
Total fund balance
2,248,866
2,475,747
M. M 1•.
-40-
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Revenues:
Property taxes:
Real
Personal
Motor vehicle
Penalty and interest
Payment in lieu of taxes
Total property taxes
Intergovernmental:
State sources:
State shared revenue
Municipal assistance
Raw fish tax
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
Schedule 2
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$1,642,000 $1,587,212
222,950 222,486
160,150 157,141
41,400 44,818
475,300 479,408
2,541,800 2,491,065
$(54,788) $ 1,351,870
(464)
177,327
(3,009)
158,023
3,418
42,839
4,108
458,691
(50,735
2,188,750
881,790
874,093
527,690
527,690
690,000
875,085
5,790
4,484
8,790
8,65
2,114,060
2,290,007
720 1.620
2,114,780 2,291,627
22,000
14,989
5,100
9,986
2,500
7,977
93,130
65,007
122,730 97,959
(7,697)
612,039
4,886
621,255
185,085
871,703
(1,306)
5,790
(135
37 8
175,947
2,111,165
900 3,118
176,847 2,114,283
(7,011)
21,984
4,886
11,268
5,477
3,364
(28,123
101,535
(24,771 138,151
-41-
Schedule 2 (Continue ,
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
Investments and property:
Interest income
$ 200,000
$ 327,316
$127,316
$ 419,172
Gain on exchange
26,475
26,486
11
29,746
Lease rentals on land
and buildings
2,150
2,000
(150)
2,600
Computer rental
100
100
99,330
Total investments
and property
228,625
355,902
127,277
550,848
Total revenues
5,007,935
5,236,553
228,618
4 ,992,032
Expenditures:
Borough Assembly
49,100
39,675
9,425
46,584
Mayor's department
140,900
140,529
371
122,886
Clerk's department
147,350
152,543
(5,193)
154,011
Finance department
223,940
228,706
(4,766)
204,855
Legal department
76,550
79,491
(2,941)
62,876
Assessment department
174,070
159,481
14,589
160,839
Community development
department
217,300
212,139
5,161
218,570
Engineering department
67,880
64,787
3,093
134,126
Health and sanitation
466,000
465,954
46
499,930
Data services
176,960
178,519
(1,559)
277,410
Resource management
52,680
52,430
250
53,324
General administration
432,330
432,211
119
442,421
Building inspector
80,000
82,806
(2,806)
64,629
Emergency preparedness
105,000
80,903
24,097
21,656
Facilities department
11,270
26,656
(15,386)
50,071
Community and Regional
Affairs Liaison
15,790
5,166
10,624
4,613
Education support
172,500
177,405
(4,905)
154,330
Economic development
50,000
28,668
21,33
70, 637
Total expenditures
2,659,620
2,608,069
51,551
2,743,768
Excess of revenues over
expenditures 2,348,315 2,628,484 280,_.169 2,248,264
Continued
-42-
t
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, 1988
with comparative figures for 1987
Operating transfers in:
Special Revenue -
land sales
Capital Projects -
Other
Debt Service - other
Total operating
transfers from
other funds
Operating transfers out:
Special Revenue:
Mental Health Center
Education
Buildings and grounds
Debt Service:
School bonds
Other
Sanitary Landfill
Total operating
transfers to
other funds
Net operating trans-
fers in (out)
Excess (deficiency) of revenues
and operating transfers in
over expenditures and
operating transfers out
Fund balance at beginning
of year
Residual equity transfer
Fund balance at end of year
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 52,680 $ 52,680
45,291
16,664
$ - $ 52,300
45,291 4,790
16,664 -
52,680 114,635
80,000 80,000
2,000,000 2,000,000
300,000 300,000
300,000 300,000
290,000 290,000
2,970,000 2,970,000
61,955 57,090
- 80,000
- 1,746,800
- 163,100
- 383,220
- 7,053
2,380,173
(2,917,320 (2,855,365 61,955 (2,323,083
(569,005) (226,881) 342,124
2,000,420 2,475,747 475,327
$1,431,415 $2,248,866 $817, 451
(74,819)
2,532,100
18,466
$ 2,475,747
-43-
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Expenditures:
Borough Assembly:
Assembly compensation
Retirement contribution
Telephone and telegraph
Travel and per diem -
Assembly
Insurance and bonding
Publications and dues
Miscellaneous
Consolidation committee
Honorariums /amenities
Food /business lunch
Total Borough
Assembly
Continued
Schedule 3
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 6,300
$ 3,900
$ 2,400
$ 8,400
400
5
395
301
-
4
(4)
28
4,000
5,976
(1,976)
8,512
15,000
14,277
723
14,278
7,000
11,129
(4,129)
10,170
400
696
(296)
865
14,000
1,563
12,437
-
1,000
1,117
(117)
3,104
1,000
1,008
(8
926
49,100
39,675
9,425
46,584
-44-
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Mayor's department:
Borough mayor salary
Secretary salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Continuing education
Office supplies
Telephone and telegraph
Travel and per diem
Repairs and maintenance
Printing and binding
Publications and dues
Boards and committees
Total mayor's
department
Continued
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 60,000 $
60,019
33,490
32,101
280
72
5,520
6,228
5,060
5,923
810
854
6,500
1,804
19,740
19,497
600
1,371
1,500
2,196
2,400
1,874
200
92
4,000
6,491
800
1,907
100
140,900 140.529
$ (19)
1,389
208
(708)
(863)
(44)
4,696
243
(771)
(696)
526
108
(2,491)
(1,107)
(100
371
$ 60,404
33,887
292
5,356
5,051
801
3,967
40
504
1,663
3,100
109
5,157
1,675
880
-45-
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Clerk's department:
Clerk salary
Deputy clerk salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Continuing education
Office supplies
Telephone and telegraph
Advertising and public
hearing
Travel and per diem
Postage
Election - local
Repairs and maintenance
Printing and binding
Publications and dues
Machinery and equipment
Equipment lease /purchase
Contracted services
Total clerk's
department
Continued
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 45,000 $
45,856
$ (856)
$ 45,290
30,060
31,027
(967)
28,276
560
91
469
586
5,110
5,614
(504)
5,202
4,960
6,215
(1,255)
5,051
600
639
(39)
614
550
1,340
(790)
-
6,670
6,802
(132)
3,119
4,875
4,052
823
3,760
1,500
1,517
(17)
4,242
1,615
1,721
(106)
1,145
15,000
15,164
(164)
15,211
750
1,598
(848)
1,126
8,550
7,874
676
17,604
10,100
10,017
83
11,874
950
1,011
(61)
271
3,000
4,715
(1,715)
6,595
500
826
(326)
688
5,000
4,765
235
93
2,000
1,699
301
1,764
-
-
1,500
147,350 152,543 (5,193 154,011
-46-
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Finance department:
Finance director salary
Cashier salary
Secretary 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
Machinery and equipment
Furniture and fixtures
Personnel recruitment
Contracted services
Costs allocated to
projects
Total finance
department
Continued
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 54,790
$ 57,492
23,740
22,672
22,140
21,413
45,450
44,566
27,510
25,381
1,400
1,450
11,510
11,828
11,290
9,933
1,440
1,464
700
5,481
15,940
15,707
2,660
2,009
2,000
3,487
2,300
2,621
-
108
1,500
436
6,840
6,837
250
242
11,000
11,380
1,400
1,465
4,500
4,414
750
230
$ (2,702)
1,068
727
884
$
53,797
29,429
45,347
- 340
(25.170 (22.250
223.940 228.706
2,129
(50)
(318)
1,357
(24)
(4,781)
233
651
(1,487)
(321)
(108)
1,064
3
8
(380)
(65)
86
520
(340)
(2,920
(4,766
29,898
1,272
10,516
6,686
1,347
6,402
7,465
2,792
3,071
2,003
5,925
114
3,762
1,136
1,477
60
(7,644
204,855
-47-
Schedule 3 (Continued I
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Continued
-48-
1988
Variance
Favorable
1987
Budget
Actual
( Unfavorable )
Actual
Legal department:
Court costs and litigation
allowance
$ 6,000
$ 2,163
$ 3,837
$ 4,412
Telephone and telegraph
120
171
(51)
73
Advertising and public
hearings
17,430
15,123
2,307
16,431
'
Professional services
50,000
59,595
(9,595)
39,090
Miscellaneous
100
261
(161)
156
Fees
800
551
249
400
,
Printing and binding
100
600
(500)
95
Filing recording fees
2,000
1.027
973
2.219
I
Total legal department
76,550
79.491
(2.941
62,876
Assessment department:
Appraiser /assessor salary
49,070
50,306
(1,236)
42,750
Assessing clerk II salary
29,790
30,090
(300)
24,106
'
Assessing clerk I salary
170
6,168
(5,998)
14,049
j
Appraiser I salary
37,860
24,275
13,585
35,586
Unemployment tax
980
121
859
1,018
Social security tax
7,910
7,808
102
8,276
Group insurance
4,730
4,234
496
5,708
Workers' compensation
3,490
2,386
1,104
2,861
Termination reserve
1,340
(311)
1,651
-
Retirement contribution
9,780
9,901
(121)
4,652
Continuing education
1,200
975
225
2,466
Office supplies
2,420
2,156
264
565
Telephone and telegraph
2,150
2,475
(325)
2,503
!
Advertising and public
hearings
500
344
156
142
Travel and per diem
2,500
2,463
37
4,498
Repairs and maintenance
1,500
1,103
397
168
Printing and binding
4,200
2,743
1,457
3,619
Publications and dues
1,500
1,323
177
2,061
'
Furniture and fixtures
5,236
Maps
Personnel recruitment
10,000
780
9,303
777
697
3
-
575
Contracted services
1,400
400
1,000
-
E
Filing recording fees
800
441
359
Total assessment
department
174.070
159,481
14.589
160,839
'
j
Continued
-48-
� I
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
i
1
Schedule 3 (Continued
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
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 53,870
$ 55,284
$ (1,414)
$ 53,205
32,790
33,038
(248)
31,698
46,200
38,336
7,864
40,156
29,190
26,671
2,519
25,626
1,120
176
944
1,173
10,460
10,656
(196)
10,122
9,640
9,631
9
6,395
3,900
3,761
139
3,774
2,270
(7,586)
9,856
-
14,370
13,800
570
6,436
-
1,373
(1,373)
2,507
1,000
2,087
(1,087)
2,472
1,500
2,489
(989)
2,161
350
865
(515)
3,123
500
595
(95)
1,608
-
544
(544)
57
5,860
18,405
(12,545)
-
8,000
5,186
2,814
9,758
1,500
1,959
(459)
1,972
14,640
15,194
(554)
8,711
450
1,437
(987)
33
6,300
6,610
(310)
8,410
(26,610 (28,372 1.762 (827
217,300 212,139 5,161 218,570
-49-
Schedule 3 (Continued j
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
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
Operating supplies
Contracted services
Costs allocated to
projects
Total engineering
department
Continued
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 61,910
$ 61,967
$ (57)
51,730
50,324
1,406
-
2,690
(2,690)
27,830
27,332
498
670
611
59
8,260
9,010
(750)
6,240
7,864
(1,624)
4,240
3,492
748
-
2,586
(2,586)
13,680
13,028
652
3,820
6,829
(3,009)
1,500
1,208
292
-
730
(730)
-
55
(55)
600
762
(162)
3,100
2,119
981
300
447
(147)
5,000
5,091
(91)
-
29
(29)
(121,000 (131,387
67,880 64,787
59,372
52,724
35,149
25,133
1,140
10,367
8,383
4,277
7,187
1,858
2,020
1,465
287
1,803
467
2,095
2,457
24,937
10,387 (106,995
3,093 134,126
I
E
u
-50-
I
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 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
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 36,800 $ 36,800 $ -
175,000 175,000 -
50,000 50,000 -
33,600 33,600 -
11,200
35,400
60,000
2,000
32,000
. .
11,200
35,400
60,000
1,954
32,000
465,954
46
46
$ 38,500
218,750
50,000
42,000
15,000
14,000
19,250
52,500
300
24,565
25,065
-51-
KODIAK ISLAND BOROUGH
GENERAL FUND
Schedule 3 (Continued
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Data services:
Data processing manager
salary
Programmer /analyst salary
Data technician I
salary
Other staff wages
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Termination reserve
Retirement contribution
Professional education
Office supplies
Telephone and telegraph
Travel and per diem
Relocation expenses
Professional services
Repairs and maintenance
Printing and binding
Publications and dues
Furniture and fixtures
Machinery and equipment
Equipment lease /purchase
Operating supplies
Contracted services
Costs allocated to
projects
Total data services
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 45,580
$ 45,601
$ (21)
$ 46,262
44,830
54,749
(9,919)
47,532
31,350
29,540
1,810
28,697
-
-
-
4,676
840
93
747
953
8,500
9,379
(879)
8,883
7,950
10,717
(2,767)
8,663
1,010
1,078
(68)
1,048
2,540
2,658
(118)
-
11,170
11,950
(780)
5,213
4,130
4,477
(347)
6,347
200
189
11
762
2,000
1,277
723
1,844
500
1,620
(1,120)
58
785
(785)
-
-
3,333
(3,333)
8,200
25,000
23,504
1,496
23,455
-
216
(216)
288
800
703
97
960
-
-
-
526
51,450
47,486
3,964
62,291
9,110
9,831
(721)
10,596
9
10,999
(1
13,288
11,000
9,157
1,843
-
(90,000 (100.823
176.960 178,519
10.823 (3.132
(1.559 211,410
Continued
-52-
f
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Continued
-53-
1988
Variance
Favorable
1987
Budget
Actual
( Unfavorable )
Actual
Resource management:
Manager salary
$ 38,330
$ 38,292
$ 38
$ 38,514
Social security tax
2,740
2,796
(56)
2,677
Group insurance
2,890
3,554
(664)
2,888
Retirement contribution
3,520
3,504
16
1,599
Unemployment tax
280
39
241
292
Workers' compensation
1,090
1,082
8
1,063
Office supplies
300
57
243
300
Telephone and telegraph
1,500
1,535
(35)
1,576
Travel and per diem
500
508
(8)
404
Continuing education
-
175
(175)
1,098
Printing and binding
500
492
8
1,420
Publications and dues
250
333
(83)
301
Termination reserve
780
-
780
-
Advertising /hearing
-
23
(23)
-
Repairs and maintenance
-
40
(40)
-
Machinery and equipment
-
-
-
1.192
Total resource
management
52,680
52,430
250
53.324
Continued
-53-
Schedule -T (Continued I
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
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 - machinery
and equipment
Contributions
Miscellaneous
Personnel recruitment
Bad debt expense
Food /business lunch
Telephone and telegraph
Advertising /hearing
Out of pocket expense
Contracted services
Total general
administration
Continued
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 24,270 $ 25,831
23,100
24,495
380
138
3,390
3,691
1,900
2,360
380
418
300
141
5,000
4,468
1,640
1,640
750
1,009
110,020
110,020
600
800
900
930
5,000
90,000
100
54,000
54,000
600
900
200
25,000
432.330
4,530
90,000
955
38,882
4,940
54,000
173
165
407
2,663
233
27,238
31.984
432,211
$ (1,561)
(1,395)
242
(301)
(460)
(38)
159
532
(259)
(300)
(130)
470
(855)
15,118
(4,940)
(173)
(165)
193
(1,763)
(33)
(2,238)
(1,984
119
$ 25,943
18,293
627
3,163
1,893
367
(7,053)
2,078
5,279
816
110,020
18,858
950
773
5,919
87,181
57
52,349
1,049
82,200
885
53
792
1,109
24,700
4,120
442,421
-54-
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Building inspector's
department:
Building official
salary
Unemployment tax
Social security tax
Group insurance
Workers' compensation
Retirement contribution
Telephone and telegraph
Travel and per diem
Printing and binding
Contracted services
Continuing education
Publications and dues
Termination reserve
Office supplies
Costs allocated to
projects
Total building
inspector's
department
Emergency preparedness:
Telephone and telegraph
Electric
Repairs and maintenance
Travel and per diem
Machinery and equipment
Total emergency
preparedness
Continued
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 55,210
$ 55,885
$ (675)
$ 52,302
280
-
280
293
3,130
2,738
392
2,990
2,170
2,155
15
2,163
1,570
1,638
(68)
1,402
24,690
22,712
1,978
2,108
500
703
(203)
959
500
88
412
1,382
100
-
100
51
4,000
1,943
2,057
3,388
-
17
(17)
1,210
1,200
70
1,130
1,977
16,550
777
15,773
-
100
-
100
6
(30,000 (5.920 (24.080 (5,602
:1 111 : 1 .900010190r: My
1,000 -
233
2,500 -
1,500 -
100,000 80,670
105.000 80.903
1,000
(233)
2,500
1,500
19,330
24,997
64,629
6,500
15,156
21,656
-55-
Schedule 3 (Con tinued)
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 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
Furniture and fixtures
Contracted services
Costs allocated to
projects
Total facilities
coordinator
department
Continued
(140,000 (145.756 5.756
11,270 26.656 (15.386
-56-
r
i
i
{ } F
E
1987
Actual
$ 50,542 g
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
1,256
14,572
(129,365
50.07 1
1
i
1
1988
Variance
Favorable
Budget
Actual
( Unfavorable )
$ 45,680
$ 45,696
$ (16)
42,280
51,649
(9,369)
23,850
30,768
(6,918)
840
143
697
7,860
9,386
(1,526)
4,840
4,369
471
2,700
3,044
(344)
1,810
(869)
2,679
10,260
11,140
(880)
2,000
3,247
(1,247)
4,000
5,744
(1,744)
500
-
500
1,802
(1,802)
250
787
(537)
2,500
3,503
(1,003)
400
467
(67)
-
850
(850)
1,500
686
814
(140,000 (145.756 5.756
11,270 26.656 (15.386
-56-
r
i
i
{ } F
E
1987
Actual
$ 50,542 g
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
1,256
14,572
(129,365
50.07 1
1
i
1
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Community and regional
affairs liaison:
Temporary staff salary
Telephone and telegraph
Printing and binding
Postage
Rent
Total community and
regional affairs
liaison
Education support:
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 4,010 $ - $ 4,010 $ -
3,000 4,729 (1,729) 4,077
500 406 94 289
300 31 269 247
7,980 - 7,980 -
15,790 5,166 10,624 4,613
Library
58,000
58,000
-
60,000
Community college
35,000
35,000
-
32,000
Village libraries
23,000
22,990
10
24,500
Public radio
7,000
7,000
-
8,000
Head Start
3,000
3,000
-
-
Kodiak Art Council
12,000
12,000
-
-
Professional services
9,500
8,090
1,410
15,590
Out of pocket expense
16,000
22,325
(6,325)
9,240
Historical Society
9.000
9
-
5,000
Total education
support
172,500
177,405
(4.905
154,330
Continued
-57-
Schedule 3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
-58-
1988
Variance
Favorable
1987
Budget
Actual
( Unfavorable )
Actual
Economic development:
Manager salary
$ -
$ -
$ -
$ 41,760
Social security tax
-
-
-
2,986
Group insurance
-
-
-
1,687
Retirement contribution
-
-
-
1,783
Unemployment tax
-
-
-
448
Workers' compensation
-
-
-
347
Office supplies
500
550
(50)
131
Telephone and telegraph
-
-
-
893
Contribution
2,200
2,200
-
-
Travel and per diem
500
408
92
3,902
Printing and binding
-
-
-
2,774
Publications and dues
-
-
-
505
Advertising /hearing
-
-
-
677
Contracted services
46,800
25,510
21,290
7,306
Machinery and equipment
-
-
-
5,438
Total economic
development
50,000
28,668
21,332
70,637
Total expenditures
2,659,620
2,608,069
51,551
2,743,768
Operating transfers out:
Special Revenue Funds:
Mental Health Center
80,000
80,000
-
80,000
Education
2,000,000
2,000,000
-
1,746,800
Buildings and grounds
300,000
300,000
-
163,100
Debt Service Funds:
School bonds
300,000
300,000
-
390,273
Sanitary landfill
290.000
290,000
-
-
Total operating
transfers out
2,970.000
2,970,000
-
2.380,173
$5.629,620
$5.578.069
$ 51.551
$5.123.941
-58-
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
proceeds of land disposals are generally limited to management of Borough lands.
FIRE AND ROAD SERVICE DISTRICTS
These funds account for the activities related to service districts established
by the voters within the district to provide road services and fire protection
within the service area. The primary sources of revenues are property taxes and
state - shared revenues directly related to road services or 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.
ASSETS
Equity in central treasury
Temporary investments
Other cash balances
Receivables:
State of Alaska
Land sales contract, due
within one year
Accrued interest
Other
Allowance for doubtful receivables
Inventories
Prepaids
Land sales contracts receivable,
due after one year
LIABILITIES AND FUND BALANCES (DEFICITS
Liabilities:
Advance from central treasury
Accounts payable
Salaries payable
Payroll taxes accrued and withheld
Employee benefits accrued and withheld
Customer deposits
Deferred and unrealized revenues
Due to other funds
Total liabilities
Fund balances (deficits):
Reserved for encumbrances
Reserved for fuel inventory
Unreserved:
Designated for subsequent
year expenditures
Undesignated
Total fund balances (deficits)
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
June 30, 1988
with comparative totals for 1987
1
1
1
59 389 184
1,263 -
1,003 -
300
2,235,912 - -
2.235.971 2.655 484
50 - -
2,765.329 303.015 17.044 13.096
2,765.379 303.015 17.044 13.096
$5,00 1,350 r 7 17 $13.096
-59-
$ � $ 15,076
_ =
- — 15076
)
$ 20,811
i
j
i
i
Fire and Road
Service
Districts
Fire
Women's
Monashka
Road
District Women's
Land Sales
Area 1
Say
Say
One Bay
$ 699,697
$ 5,204
$17,528
$13,096
$20,811 $ -
1,965,244
300,000
-
-
- _
257,200
-
118,749
466
(18,252)
1.978 712
-
$5.001.350
$305,670
$17 ,528
$13.096
$20,811 $
59 389 184
1,263 -
1,003 -
300
2,235,912 - -
2.235.971 2.655 484
50 - -
2,765.329 303.015 17.044 13.096
2,765.379 303.015 17.044 13.096
$5,00 1,350 r 7 17 $13.096
-59-
$ � $ 15,076
_ =
- — 15076
)
$ 20,811
i
j
i
i
Schedule 4
Federal and State Grant Programs
Federal Mental
Bay View Revenue Health
Road Sharing Center Energy Day Care
$ - $ - $116,683 $ - $ -
100 - -
40,530 14,058 37,460
126,983 - -
(39,441) - -
- 6,130 - -
$ S $250,985 $14,058 $37,4
$ 907 $
Buildings
Totals
$ -
Education
and
Grounds
1988
1987
$2,259,772
$30,823
$3,163,614
$2,159,067
-
-
2,265,244
2,068,379
14,399
-
14,499
35,220
697,637
-
789,685
488,698
-
-
257,200
297,696
-
-
119,215
101,787
5,859
-
132,842
169,380
-
-
(57,693)
(55,611)
230,064
300
230,064
225,172
-
-
6,130
330,913
2,468,619
1,978,712
2,090,860
$3,207,731
$30,823
$8,899,512
$7,911,561
$ 907 $
- $ - $14,058
$17,843
$ -
$ -
$ 47,884
$ 549,331
-
- 7,120 -
19,216
259,324
2,900
289,192
128,930
-
- 18,438 -
-
829,099
-
848,800
779,072
-
- - -
-
490,244
-
490,244
510,955
-
- 6,599 -
-
109,304
-
116,906
104,595
-
- - -
-
-
-
300
300
-
- - -
-
157,407
-
2,393,319
2,468,619
- - -
- 32,157 14.058
-
243,481
-
243.481
51,804
4.593.606
37,059
2.900
907
4.430.126
2.088.859
-
- - -
-
128,562
700
129,312
177,377
-
- - -
-
73,680
-
73,680
72,166
-
- - -
-
290,000
-
290,000
327,203
(907
- 218,828 -
401
626,630
27,223
3,976,394
2.741,209
(907
- 218,828 -
401
1,118,872
27,923
4,469,386
3,317,955
1- $-
$250,985 $14,058
$37,4
$3,207,731
$30,823
$8,899,512
$7,911,561
-60-
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES (DEFICITS)
Year ended June 30, 1988
with comparative totals for 1987
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 in
Operating transfers out
Net operating transfers
Excess (deficiency) of revenues
and operating transfers in
over expenditures and operating
transfers out
Fund balances (deficits) at
beginning of year
Adjustments to reserve for fuel inventory
Fund balances (deficits) at end of year
Fire and Road Service Districts
Fire Road
Women's Monashka District Women's
Land Sales Area 1 Bay Bay One Bay
$ - $126,298 $ 5,810
9,577 1,010
588,547 - _
55,819 7,840 6,000
102,885 19,686 -
747.251 163.401 12.820
$17,831 $ 16,324 $ 11,638
4,272 10,778 18,087
10,000
22.103 27.102 39.725
3,928 - -
- 119,181 22,069
4,979 7,655 -
8.907 126,836 22.069
16.014 37.665 73.775
16,014 37,665 73.775
738.344 36.565 (9.249 6.089 (10.563 (34.050
- 1,164 - -
(52,680 (10,000 -
(52.680 (8.836 -
685,664 27,729 (9,249) 6,089 (10,563) (34,050)
2,079,715 275,286 26,293
$2.765,379 $303,015 $17,044
7,007 31,374 18,974
$13,096 20,811 $(15.07
-61-
—62—
Federal
and State
Grant Programs
Federal
Mental
Buildings
Totals
Bay View
Road
Revenue
Sharing
Health
Center
Energy Day Care
Education
and
Grounds
1988
1987
$ 3,190
$ -
$ -
$ - $ -
$ -
$ -
$ 181,091
$ 195,903
912
-
734,442
32,220 199,215
17,423,440
-
18,433,953
18,254,548
-
-
-
- -
788,491
-
788,491
621,078
-
-
-
- -
-
-
588,547
493,230
-
-
336,166
- -
157,915
-
573,740
657,087
-
-
16.959
- -
-
30 2.150
441.680
475.636
4.102
-
1.087.567
32.220 199.215
18.369.846
302.150
21.007.502
20.697.482
-
-
-
32,220 -
-
-
36,148
9,579
-
63,000
1,152,995
- 199,215
-
-
1,415,210
1,291,262
-
5,000
-
- -
15,462,882
-
15,467,882
15,161,996
-
23,973
-
- -
-
525,176
690,399
807,018
-
-
_
_ _
_
-
12,634
45,832
3.786
-
-
- -
-
-
131.24
96. 4Z5
3.786
91,97
1.152.995
32,22 199.215
15.462.882
525.176
17.753.513
17.412.112
316
(91.973
(65.428
- -
2.906.964
(223.026
3.253.989
3.285.370
-
-
80,000
-
2,109,375
300,000
2,490,539
2,243,662
-
-
-
(7.036
- -
- -
(4.524.896
-
(4.594,612
(6.543.770
-
300.000
72.964
(2.104.073
(4.300.108
(2.415.521
316
(91,973)
7,536
- -
491,443
76,974
1,149,916
(1,014,738)
(1,223)
91,973
211,292
- 401
625,914
(49,051)
3,317,955
4,322,625
1.515
1.515
10.068
$ (907)
$ 218.828
401
$ 1.118.872
27 ,923
$ 4.469.386
$ 3.317.955
—62—
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
LAND SALES
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Schedule 6
-63-
1988
Variance
Favorable
1987
Budget
Actual
( Unfavorable )
Actual
Revenues:
Land sale proceeds
$ 430,000
$ 588,547
$158,547
$ 493,230
Licenses, permits, fees
and other local revenues:
Penalty and interest
1,100
931
(169)
1,262
Permit fees
10,000
20,000
10,000
10,025
Gravel sales
5.400
34 = 888
29,488
23,529
16,500
55,819
39,319
34,816
Investment income
55,000
102,885
47,885
158,711
Total revenues
501,500
747,251
245,751
686.757
Expenditures:
Planning and community
development:
Land management
373,820
3,928
369,892
2,433
Capital improvements:
General:
Survey and appraisal
75,000
4,979
70,021
9,132
Support costs
-
-
13.550
Total expenditures
448.820
8,907
439,913
25.115
Excess of revenues
over expenditures
52,680
738,344
685,664
661,642
Operating transfers out
(52. 680
(52.680
-
(1.052,300
Excess (deficiency) of
revenues over expenditures
and operating transfers
out
$ -
685,664
$685.664
(390,658)
Fund balance at beginning
of year
2,079,715
2,470,373
Fund balance at end of year
$2.765.379
$ 2.079.715
-63-
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, 1988
with comparative figures for 1987
Schedule 7
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
Revenues:
Property taxes
$131,500
$126,298
$(5,202)
$130,998
State sources - shared
revenue
8,950
9,577
627
26,746
Licenses, permits, fees
and other local revenues
7,200
7,840
640
9,505
Investments and property
5,000
19,686
14,686
15.261
Total revenues
152.650
163.401
10,751
182,510
Expenditures:
General administration
128,090
119,181
8,909
96,255
Capital improvements:
General
28.610
7,655
20.955
16,046
Total expenditures
156,700
126,836
29,864
112,301
Less charged to federal
revenue sharing
-
-
-
5,000
Total expenditures
156,700
126,836
29.864
107,301
Excess (deficiency) of
revenues over expenditures
(4,050)
36,565
40,615
75,209
Operating transfers in (out)
(10.000
(8,836
1.164
1,070
Excess (deficiency) of revenues
and operating transfers in
over expenditures and
operating transfers out
$(14.050)
27,729
$41,779
76,279
Fund balance at beginning
of year
275,286
199,007
Fund balance at end of year
$303.015
$275,2
-64-
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, 1988
with comparative figures for 1987
Revenues:
Property taxes
State sources - shared revenue
Licenses, permits, fees
and other local revenues
Total revenues
Expenditures - general
administration:
Office supplies
Telephone and telegraph
Insurance and bonding
Repairs and maintenance
Utilities
Capital outlay
Other
Total expenditures
Less charged to federal
revenue sharing
Net expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance at end of year
Schedule 8
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Act ual
$ 11,180 $ 5,810 $(5,370) $11,179
1,010 1,010 - 2,977
7,200 6,000 (1,200) 5,5
19,390 12,820 (6,570 19,656
250
-
250
88
300
243
57
437
9,000
12,704
(3,704)
14,099
1,500
870
630
882
6,500
3,736
2,764
4,036
4,600
-
4,600
7,104
7,450
4,516
2,034
4,761
29,600
22,069
7,531
31,407
-
-
22,069
-
7,531
5,000
26,407
29,600
V 10,210) (9,249) $ 961
26,293
$ 17,044
(6,751)
33,044
$ 26,2 93
-65-
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, 1988
with comparative figures for 1987
Revenues:
Property taxes
State sources - shared revenue
Total revenues
Expenditures - capital
improvements - service
district maintenance
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance at end of year
Schedule 9
21,880 16.014
$ 260 6,089
7.007
$13.096
-66-
$5.829 (1,134)
off-i"M
MR,
1988
Variance
Favorable
1987
Budget
Actual
( Unfavorable )
Actual
$17,880
$17,831
$ (49)
$18,892
4,260
4,272
12
5,087
22,140
22,103
(37)
23,979
21,880 16.014
$ 260 6,089
7.007
$13.096
-66-
$5.829 (1,134)
off-i"M
MR,
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, 1988
with comparative figures for 1987
Revenues:
Property taxes
State sources - shared revenue
Total revenues
Expenditures - capital
improvements - service
district maintenance:
Salaries
Repairs and maintenance
Contracted services
Other
Total expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance at end of year
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 21,680 $ 16,324 $(5,356) $ 21,670
10,780 10,778 (2 1.655
32,460 27,102 (5,358 23.325
1,000
1,512
(512)
1,133
15,480
4,099
11,381
21,663
42,000
31,191
10,809
17,810
200
863
(663
232
58.680
37,665
21,015
40,838
$(26.220
(10,563)
$15.657
(17,513)
31,,174
48,887
$ 20.811
$ 31.374
-67-
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, 1988
with comparative figures for 1987
Revenues:
Property taxes
State sources - 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
Total expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance (deficit) at
end of year
Schedule 11
300 490 (190) 460
300 58 242 56
82,000 73,173 8,827 28,691
900 54 846 44
83,500 73.775 9,725 29,251
$( 42,270) (34,050) $ 8,22
W.W
-68-
15,695
$ 18,974
1988
Variance
Favorable
1987
Budget
Actual
( Unfavorable )
Act ual
$ 13,160
$ 11,638
$(1,522)
$13,164
18,070
18,087
17
21,782
10.000
10.000
-
10,000
41,230
39.725
(1.505
44,946
300 490 (190) 460
300 58 242 56
82,000 73,173 8,827 28,691
900 54 846 44
83,500 73.775 9,725 29,251
$( 42,270) (34,050) $ 8,22
W.W
-68-
15,695
$ 18,974
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD
BAY VIEW
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Revenues:
Property taxes
State sources - shared revenue
Expenditures - capital improve-
ments - service district
maintenance:
Staff salaries
Advertising /hearings
Contracted services
Other
Total expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance (deficit) at
beginning of year
Fund balance (deficit) at
end of year
Schedule 12
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 3,190 $ 3,190 $ - $ -
910 912 2
4,100 4.102 2
- 197
(197)
245
- 61
(61)
68
3,190 3,461
(271)
894
- 67
(67
16
3.190 3,786
(596
1,223
$ 910 316
$ (594
(1,223)
(1.223
-69-
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, 1988
with comparative figures for 1987
Revenues:
Federal sources - shared
revenue entitlement payments $
Investments and property _
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 support:
Kodiak Community College
Head Start Program
General administration:
6T4T
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
20,000
20,000 -
18,000
18,000 -
20,000
20,000 -
2,000 2,000
3,000 3,000
5,000 5,000
Kodiak Historical Society
-
-
Alaska Legal Services
14,000
14,000
Kodiak Art Council
-
-
Special Olympics
3,000
3,000
Women's Bay Fire District
-
-
Fire Service District 1
-
-
KMXT Public Radio
5,000
5,000
Professional services
2.000
1.973
Total expenditures
92.000
91,973
Excess (deficiency) of
revenues over expenditures
$(92.000
(91,973)
Fund balance at beginning
of year 91.973
Fund balance at end of year $ -0-
27
2Z
27
$ 38,228
6,104
44,332
15,000
22,000
20,000
20,000
1,600
2,500
10,000
3,000
5,000
9,500
2,900
20,000
7,500
3,000
5,000
5,000
2,000
(109,668)
201.641
$ 91.973
-70-
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, 1988
with comparative figures for 1987
Schedule 14
Continued
-71-
1988
Variance
Favorable
1987
_ Budget
Actual
( Unfavorable )
Actual
Revenues:
State sources:
Grant
$ 194,219
$ 196,358
$ 2,139
$ 195,700
Shared revenue
393,070
395,330
2,260
331,072
CSP grants
151,965
142,754
(9,211)
98,115
Licenses, permits, fees
and other local revenues:
Organization user fees
164,895
178,191
13,296
176,777
Individual user fees
161,760
157,863
(3,897)
158,263
Miscellaneous
850
112
(738)
887
Investments and property:
Rental fees
12,000
12,000
-
12,000
Interest
_ 6,000
4,959
(1,041)
6,104
Total revenues
1,084,759
1,087,567
2,808
978.918
Expenditures - health and
sanitation - mental
health program:
Personnel
876,370
869,079
7,291
749,626
Travel
25,484
22,670
2,814
18,246
Facility
63,905
57,747
6,158
52,713
Supplies
45,600
47,989
(2,389)
47,559
Equipment
19,500
18,173
1,327
23,816
Other
133,900
132,460
1,440
118,390
Bad debts
-
4, 77
(4 $77)
28,130
1,164,759
1,152,995
11,764
1,038,480
Less charged to federal
revenue sharing
-
-
-
10.00
Total expenditures
1,164,759
1.152.995
11,764
1.028,480
Excess (deficiency) of
revenues over expenditures
(80,000
(65.428
14,572
(49,562
Operating transfers in
80,000
80,000
-
80,000
Operating transfers out
-
(7,036
(7.036
(9,353
Net operating
transfers
80,000
72,964
(7,036
70.647
Continued
-71-
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, 1988
with comparative figures for 1987
Excess of revenues and operating
transfers in over expenditures
and operating transfers out
Fund balance at beginning
of year
Fund balance at end of year
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ 7,536 $7.536 $ 21,085
211,292
$ 218,82 8
-72-
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, 1988
with comparative figures for 1987
Revenues:
State sources:
Community and regional
affairs grant 1987
Community and regional
affairs grant 1986
Total revenues
Expenditures - planning and
community development:
Planning and zoning
Excess of revenues
over expenditures
Fund balance at beginning
of year
Fund balance at end of year
Schedule 15
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$32,400 $32,220 $(180) $ -
- - 7.146
3 32,220 (180 7.146
32,400 32,22 180 7.146
i_ - $ - -
-73-
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, 1988
with comparative figures for 1987
Revenues - State
sources
Expenditures - health and
sanitation - day care
payments
Excess (deficiency) of revenues
over expenditures
Fund balance at beginning
of year
Fund balance at end
of year
Schedule 16
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$207,429 $199,215
207.429 199,215
401
401
$(8,214) $168,256
8,214 168,682
(426)
-74-
Schedule 17 '
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
EDUCATION
r�
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Revenues:
State sources
Federal sources
Licenses, permits, fees
and other local revenues:
Food sales
Pupil activities
Other local revenues
Total revenues
Expenditures:
Education support:
Regular instruction
Vocational education
instruction
Correspondence study
instruction
Special education
instruction
Gifted and talented
instruction
Bilingual /bicultural
instruction
Pupil support
School administration
District administration
Operation and maintenance
Food services
Community services
Pupil activities
Pupil transportation
Total expenditures
Excess (deficiency) of
revenues over expenditures
Operating transfers in
Operating transfers out
Net operating
transfers
Continued
1
1
3,062,415 2,906,964 (155,451 3.092,705 '
2,080,879 2,109,375 28,496 1,999,492
(5,183,579 (4,524,896 658.683 (5,482.117
(3,102.700 (2,415,521 687,179 (3.482,625 1
-75- 1
1988
Variance
Favorable
1987
Budget _
Actual
( Unfavorable )
Actual
$18,303,390
$17,423,440
$ (879,950)
$17,396,012
1,235,427
788,491
(446,936)
582,850
1
102,100
98,086
(4,014)
86,435
6,000
6,738
738
5,113
35,335
53.091
17.7
169.791
19,682.252
18,369,846
(1,312,406
18,240.201
7,078,955
6,458,663
620,292
6,167,304
699,800
670,765
29,035
708,658
i
128,290
126,258
2,032
109,363
1,632,870
1,533,006
99,864
1,178,924
142,310
137,578
4,732
-
162,015
157,152
4,863
152,242
777,880
723,686
54,194
822,375
1,028,436
1,013,907
14,529
644,054
1,073,151
944,296
128,855
2,048,523
2,787,457
2,612,997
174,460
2,394,558
267,100
248,459
18,641
227,874
'
21,739
21,317
422
54,789
382,432
373,484
8,948
210,251
437,402
441.314
(3.912
428,581
'
16,619,837
15,462.882
1.156.955
15,147.496
3,062,415 2,906,964 (155,451 3.092,705 '
2,080,879 2,109,375 28,496 1,999,492
(5,183,579 (4,524,896 658.683 (5,482.117
(3,102.700 (2,415,521 687,179 (3.482,625 1
-75- 1
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, 1988
with comparative figures for 1987
Excess (deficiency) of
revenues and operating
transfers in over
expenditures and
operating transfers out
Fund balance at beginning
of year
Adjustment to reserve for
fuel inventory
Fund balance at end of year
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$ (40.285 $ 491,443 $ 531.728 $ (389,920)
625,914
1.515
$1.118.872
1,005,766
10,068
$ 625.914
-76-
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
BUILDINGS AND GROUNDS
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Revenues:
Investments and property:
Rental
Sales of property
and equipment
Interest income
Miscellaneous income
Total revenues
988
Variance
Favorable
Budget Actual ( Unfavorable )
$ 283,330 $ 273,876
8,000 -
- 1,069
27,205
291.330 302,150
$(9,454)
(8,000)
1,069
27,2
10,820
Expenditures:
General administration:
School buildings
Borough building
Apartments
Refuse collection
and disposal
Parks operation
and maintenance
Total expenditures
Excess (deficiency) of
revenues over expenditures
Operating transfers in
Excess (deficiency) of revenues
and operating transfers in
over expenditures
Fund balance (deficit) at
beginning of year
Fund balance (deficit)
at end of year
368,500
313,576
174,990
176,915
24,010
14,828
15,050
13,934
5,92
525,176
(298,220) (223,026)
300,000 300,000
$ 1.780 76,974
(49,051
$ 27.923
-77-
54,924
(1,925)
9,182
1,116
1,077
64,374
75,194
$75, 194
Schedule 18
1987
Actual
$ 277,456
277,456
368,519
211,500
46,021 '
20,157
4,863 '
651,060
(373,604) '
163,100
(210,504) '
161,453 '
$ (49.051)
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.
SCHOOL BONDS 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.
1 OTHER DEBT SERVICE FUND
This fund accounts for the accumulation of money to pay the long -term portion
of the Borough's vested accrued annual leave.
t
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
June 30, 1988
with comparative figures for 1987
ASSETS
Cash and investments:
Equity in central treasury
Temporary cash investments
Cash with fiscal agent
Receivable from
State of Alaska
Accrued interest receivable
LIABILITIES AND FUND BALANCES
Advance from central treasury
Other
Fund balances - designated for
subsequent year expenditures
Schedule 19
Totals
School
Bonds Other 1988 1987
$ 983,852 $133,423 $1,117,275 $ 144,215
4,473,809 - 4,473,809 6,221,603
1,445,913 - 1,445,913 1,462,905
118,108 - 118,108 244,517
71,984 - 71.084 95,236
$7.092.766 $133.423 $7.226.189 $8.168.476
$ - $ - $ - $ 744,969
785 - 785 -
7,091.981 133,423 7,225,404 7,423.507
$7.092.766 $133,42 $7.226.189 $8.168.476
-78-
Schedule 20
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
Year ended June 30, 1988
with comparative figures for 1987
Totals
School Bonds Other 1988 1987
Revenues - investments and
property - interest income
$ 488,470 $ -
$ 488,470
$ 430,891
Expenditures - debt service:
Principal
3,785,834 -
3,785,834
4,750,417
Interest
1,546,117 -
1,546,117
1,704,176
Fiscal agent fees
148,874 -
148,874
82,812
Other
477 -
477
396
Total expenditures
5.481.302 -
5,481,302
6.537.801
Excess (deficiency) of
revenues over expenditures
(4,992,832 -
(4,992.8.U
(6,106.910
Operating transfers in:
General Fund
300,000 -
300,000
390,273
Special Revenue Funds:
Mental Health Center
- 7,036
7,036
9,353
Education
4,415,521 -
4,415,521
5,226,425
Capital Projects Fund
90,000 -
90,000
-
Hospital Debt Service Fund
- -
-
12,2
4,805,521 7,036
4,812,557
5,638,299
Operating transfers out:
General Fund
- 16,664
16,664
-
Special Revenue Fund:
Fire Service District
Area 1
- 1,164
1,164
1,070
Debt Service Fund
-
12.248
- 17.828
17,828
13.318
Net operating transfers
4,805.521 (10,792
4,794,729
5,624,981
Excess (deficiency) of revenues
and operating transfers in
over expenditures and
operating transfers out
(187,311) (10,792)
(198,103)
(481,929)
Fund balances at
beginning of year
7.279,292 144,215
7.423.507
7,905.436
Fund balances at end of year
$ 7.091.981 $133,42
$7.225.404
$ 7.423.507
-79-
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
SCHOOL BONDS
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Schedule 21
1988
Variance
Favorable
1987
Budget
Actual
( Unfavorable )
Actual
Revenues - investments and
property - interest
income
$ 400,000
$ 488,470
$ 88,470
$ 412,578
,
Expenditures - debt service:
Principal
4,335,830
3,785,834
549,996
4,450,417
Interest
1,811,940
1,546,117
265,823
1,689,551
,
Fiscal agent fees
127,230
148,874
(21,644)
82,661
Other
225,000
477
224,523
-
Total expenditures
6,500.000
5.481.302
1.018.698
6.222,629
Excess (deficiency) of
I
revenues over expenditures
(6,100,000
(4,992.832
1,107,168
(5,810,051
'
Operating transfers in:
P 8
General Fund
300,000
300,000
-
383
Education Special Revenue
Fund
5,117
4,415,521
(702,329)
5,226,425
Hospital Debt Service
Fund
-
12,248
'
Capital Projects Fund
90,000
90.000
-
-
Total operating
transfers
5,507,850
4.805.521
(702,329
5.621.893
Excess (deficiency) of
revenues and operating
transfers in over
expenditures
$ (592.150
(187
$ 404.839
(188,158)
Fund balance at beginning
of year
7,279,292
7,467,450
Fund balance at end of year
$ 7.091.981
$ 7.279.292
,
-80-
� I
� I
� I
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.
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.
SCHOOL MAJOR MAINTENANCE
This fund accounts for money transferred from the Land Sales Fund for the
major repairs and maintenance of school buildings.
f]
F,
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
June 30, 1988
with comparative figures for 1987
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
LIABILITIES AND FUND BALANCES
Liabilities:
Advance from central treasury
Accounts payable
Retainages payable
Deferred revenue
General obligation demand
bonds payable
Total liabilities
Fund balances:
Reserved for encumbrances
Unreserved - designated for
subsequent year expenditures
Undesignated
Total fund balances
School
Various Equipment
Borough School Bond and
Projects Improvements Furnishin¢s
$854,163 $ - $ -
- 5,066,345 -
9,282 -
12,698 - -
- 203,072 -
- - 243,481
$876.143 5.269.417 $243,481
$ - $ 1,012,499 $ -
231,335 7,267
346,037 -
185,998 - -
- 2,750. -
185,998 4,339.871 7,267
183,090 4,652,504 97,329
507,055 - 138,885
- (3,L2 258) -
690,145 929.546 236,214
$876.143 $ 5.269.417 $243,4
Iffja
Schedule 22
State
School
Totals
Capital
Major
Grants
Maintenance
1988
1987
$1,463,288
$ 3,726
$ 2,321,177
$ 3,304,191
-
1,063,309
6,129,654
9,784,936
-
-
-
175,000
-
-
9,282
268,242
42,978
-
55,676
413,882
-
18,538
221,610
189,509
-
-
243.481
52,023
$1.506.266
$1.085.573
$ 8.980.880
$14.187.783
$ - $ - $ 1,012,499 $ 616,280
20,061 - 258,663 468,721
93,286 - 439,323 297,445
1,080,534 - 1,266,532 1,397,733
- - 2,750 4,800
1.193,881 - 5.727.017 7,580,179
252,792 - 5,185,715 2,904,397
59,593 1,085,573 1,791,106 3,703,207
- - (3.722.958 -
312,385 1.085,573 3,253,863 6,607,604
-82-
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
Year ended June 30, 1988
with comparative figures for 1987
Revenues:
State sources
Federal sources
Licenses, fees, permits and
other local revenues
Investments and property
Expenditures:
Capital improvements:
Schools
General
Total expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Insurance proceeds
Asbestos settlement
Demand bond principal payments
Operating transfers in
Operating transfers out
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 at end of year
Various
Borough School Bond
Projects Improvements
$ 17,715 $ -
53 .345- 512.0
71.060 512,902
- 7,439,696
69,890 -
69.890 7,439,696
1,170 (6,926.794
1,414,685
634,061
- 2,050,000
10,000 -
( 60.000 ) (843.903
(50.000 3.254,843
(48,830) (3,671,951)
738,975 4,601,497
$690.145 $ 929.546
-83-
Schedule 23
School
Equipment State School Totals
and Capital Major
Furnishings Grants Maintenance 1988 1987
$ 9,900 $1,252,942
5,000 -
- 12,201
14,900 1,265.143
155,810 -
- 1,709.330
155.810 1,709,330
$ - $ 1,280,557 $ 6,419,199
- 311,639
5,000 1,007,293
78,525 656.973 752,960
78,525 1,942,530 8.491.091
7,595,506 3,187,372
1.779,220 7,189,217
9,374,726 10.376,589
(140.910 (444.187
78,525 (7.432,196
(1,885,498
- -
- 1,414,685
-
- -
- 634,061
-
- -
- 2,050,000
1,850,000
336,093 547,419
- 893,512
1,411,109
(9,900 -
- (913,803
(415.899
326,193 547,419
- 4,078,455
2,845,210
185,283 103,232 78,525 (3,353,741) 959,712
50,931 209,153 1,007,048 6,607,604 5,666,358
- - - - (18.466
236,214 $ 312.385 $1.085.573 $ 3.253.863 $ 6.607.604
-84-
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
SCHEDULE OF CAPITAL PROJECTS
For the year ended June 30, 1988
-85-
Transfers
and
Closed
Total
Project
Prior
1988
Adiustments
Projects
Appropriation
Schools:
44 -202
Work of Art - Auditorium
$ 33,090
$ -
$ -
$ -
$ 33,090
44-253
Asbestos Removal Program
41,000
-
-
(41,000)
-
44 -278
Landscaping
10,000
-
-
-
10,000
45 -245
School Auditorium
9,991,080
-
-
(9,991,080)
-
45 -249
Maintenance Shop
1,739,600
-
-
(1,739,600)
45 -283
Handicap Code Roof
974,121
800,000
51,499
-
1,825,620
45 -284
Larsen Bay School
1,729,712
100,000
40,138
-
1,869,850
45 -285
Peterson Elementary
564,990
-
29,870
-
594,860
45 -286
East Elementary School
29917,525
8,918
84,365
-
3,010,808
45 -287
Old Harbor School
1,753,418
-
92,722
-
1,846,140
45 -288
Port Lions School
1,753,418
350,000
(57,278)
-
2,046,140
45 -289
Port Lions Gym
-
1,781,589
139,990
-
1,921,579
47 -183
School Crossing Lights
160,210
-
-
(160,210)
-
47 -195
School Upgrade
169,000
-
-
(169,000)
-
47 -203
East Elementary Ballfield
40,980
-
-
-
40,980
47 -247
Handicap Barrier Removal
-
-
9,900
-
9
47 -248
High School Track
300,000
-
(4,280)
-
295,720
47 -253
Asbestos Removal Program
2,815,000
-
-
-
2,815,000
27 -279
School Major Maintenance
-
50,000
-
-
50,000
N/A
School Equipment
224,799
5,000
336,093
-
565,892
Park Improvements:
44 -254
Park Development
185,000
30,000
-
-
215,000
Road Projects:
42 -148
Sawmill - Lakeview
86,955
-
-
(86,955)
-
44-201
Sergeant Creek Road
819,533
-
120,467
-
940,000
44 -281
Chiniak Subdivision
700,000
-
-
_
700,000
47 -192
Women's Bay Paving
156,000
-
-
-
156,000
47 -194
Area Wide Roads
825,447
-
(53,500)
(771,947)
-
47 -247
Lilly Dry - Phase I
740,000
-
-
(740,000)
-
47 -255
Lakeside Improvement
2,747,200
-
(37,560)
-
2,709,640
47 -257
Lilly Dry - Phase II
972,233
-
129,633
-
1,101,866
47 -266
Antone Balika Melnitsa
595,000
-
(129,633)
(465,367)
-
Other:
44 -133
Borough Bldg Roof
209,000
-
-
(209,000)
-
44 -191
Land Disposal FY-85
60,000
-
-
(60,000)
-
44 -315
Bayside Fire Equipment
7,200
10,000
10,000
(7,200)
20,000
44 -323
Ouzinkie Fisheries
9,850
-
-
-
9,850
47 -158
Emergency Medical Services
124,313
-
(124,313)
-
-
47 -159
Akhiok Medical Clinic
149,417
-
-
(149,417)
-
47 -177
Chiniak Emergency Building
-
100,000
-
-
100,000
47 -180
Hospital Site Preparation
-
111,900
-
-
111,900
47 -186
Hospital Heli Pad
-
250,000
-
-
250,000
47 -187
Hospital Construction
923,810
-
-
-
923,810
47 -188
Hospital Equipment
157,600
-
-
(157,600)
-
47 -189
Hospital Design Dev
1
-
-
-
1,000,000
47 -208
State Fairgrounds
84,567
25,000
-
(109,567)
-
47 -211
Karluk Fire Equipment
100,000
-
(100
-
-
47 -213
Water Sewer Landfill
-
225,000
-
-
225,000
47 -242
Karluk Lake Fertilization
60,000
60,000
-
-
120,000
47 -259
Karluk Electric System
368,160
-
-
(368,160)
-
47 -260
Village Projects
300,000
-
-
(300,000)
-
47 -263
Solid Waste Facility
3,135,000
-
-
-
3,135,000
47 -271
Karluk Public Building
126,100
-
(5
-
121,100
47 -274
Akhiok Equipment Shed
100
-
-
(100,000)
-
47 -316
Larsen Bay Landfill
100,000
-
-
(100,000)
-
Other Akhiok
Projects:
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
-
46,840
(230,025)
-
47 -275
Akhiok Water Supply Dam
180.000
-
(180.000
-
Total Other Akhiok Projects
1,067,185
-
46,840
(1,114,025)
-
Undesignated:
44 -209
Undesignated Projects
44,335
-
(39,385)
-
4,950
45 -209
Undesignated Projects
(48,244)
255,000
(56,916)
(43,090)
106,750
47 -209
Undesignated Projects
870.320
-
(1.004.145
-
(133.825
Total Capital Projects
$41.993.924
$4.162.407
$ (520.493)
$(16.883.218)
$28.752.620
-85-
209,000
-
- (209,000)
60,000
Unencumbered
- (60,000)
_
- _
Closed
Total
Unexpended
Current
Balance
Prior
1988
Adjustments
Projects
Expenditures
Balance
Encumbrance
(Deficit)
$ -
$ -
$ -
$ -
$ -
$ 33,090
$ -
$ 33,090
41,000
-
-
(41,000)
-
-
-
-
- -
5,015
-
-
5,015
4,985
-
4,985
9,991,080
-
-
(9,991,080)
-
-
-
-
1,739,600
-
-
(1,739,600)
-
-
-
-
253,994 54,720
367,770
25,879
-
393,649
1,431,971
1,406,858
25
85,305
1,710,341
45,288
-
1,840,934
28,916
300
28,616
-
9,453
15,010
-
24,463
570,397
-
570,397
188,741
2,456,564
82,475
-
2,727,780
283,028
397,095
(114,067)
117,070
106,287
46,582
-
269,939
1,576,201
1,861,710
(285,509)
180,995
1,512,939
46,582
-
1,740,516
305,624
252,437
53,187
1,276,342
-
-
1,276,342
645,237
734,104
(88,867)
160,210
-
-
(160,210)
-
-
-
-
169,000
-
-
(169,000)
-
-
-
-
37,071
3,909
-
-
40,980
-
-
-
-
9,900
-
-
9
-
-
-
77,523
218,197
-
-
295,720
-
-
-
2,736,602
-
-
-
2,736,602
78,398
-
78,398
50,000
-
50,000
173,868
155,810
-
-
329,678
236,214
97,329
138,885
175,154
39,029
-
-
214,183
817
-
817
86,955
-
-
(86,955)
-
-
-
_
736,287
17,715
-
-
754,002
185,998
-
185,998
2,264
3,281
-
-
5,545
694,455
183,090
511
152,512
3,488
-
-
156,000
-
-
-
766,710
-
5,237
(771,947)
-
316,520
-
-
(316,520)
-
-
_
_
1,966,866
4
-
-
1,971,811
737,829
65,498
672,331
41,586
285,020
-
-
326,606
775,260
-
775,260
470,604
-
(5,237)
(465,367)
-
_
_
-
209,000
-
- (209,000)
60,000
-
- (60,000)
_
- _
_
7,200
-
- (7,200)
-
20,000 -
20,000
5,000
4,850
- -
9
- -
_
149,417
-
- (149,417)
-
- _
_
-
100,000 -
100,000
-
111,900
- -
111,900
- -
_
2,189
- -
2,189
247,811 -
247,811
495,000
246,339
- -
741,339
182,471 132,574
49,897
157,600
-
- (157,600)
-
- _
-
393,210
352,796
- -
746,006
253,994 54,720
199,274
84,567
25,000
- (109
-
_ -
_
225,000
- -
225,000
43,189
76,811
- -
120,000
368,160
-
- (368,160)
-
300,000
-
- (300,000)
-
3,174,234
113,384
- -
3,287,618
(152,618) -
(152,618)
109,334
11,766
- -
121,100
100,000
-
- (100,000)
-
100,000
-
- (100,000)
1,095
- (1,114,025)
-
_ -
18,686
-
-
-
- -
-
4,950 -
4,950
6.448
-
-
- -
- -
6.448
106,750 -
(173 -
106,750
(140.273
$27.271.221
$9.374.726 $261.816
$(16.416.648)
520.491.115
$8.261.505 $5.185.715
$3.075,790
-86-
'1
� I
!I
ENTERPRISE FUNDS
1
1 These funds were established to finance and account for the acquisition,
operation and maintenance of governmental facilities and services which are
entirely or predominantly self- supporting by user charges.
1 SANITARY LANDFILL FUND
This fund accounts for all activity of the Borough owned sanitary landfill and
' garbage collection utility.
WATER AND SEWER ENTERPRISE FUND
1
This fund accounts
for all
activity of
the Borough owned and operated water
and sewer utility.
1
HOSPITAL ENTERPRISE
FUND
This fund accounts
for all
activity of
the Kodiak Island Borough Hospital.
The Hospital is a
component
unit of the
Kodiak Island Borough. The Hospital
is operated on behalf of
the Borough
by the Lutheran Hospitals and Homes
Society of America.
t
t
r
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
June 30, 1988
with comparative figures for 1987
ASSETS
Water Totals
Sanitary and Sewer
Current assets: Landfill Utility Hospital 1988 1987
Equity in central treasury $ 25,582 $ 19,684 $ - $ 45,266 $ 160,839
Temporary investments - 200,000 - 200,000 -
Other cash and cash equivalents - - 231.508 _2231.508 -
25.582 219.684 231.508 476.774 160.839
Receivables:
Customers and patients
23,536
63,775
1,442,750
1,530,061
1,188,116
Lutheran Hospitals and
Homes Society of America
-
-
283,141
283,141
306,774
City of Kodiak
-
-
6,251
6,251
4,073
Third party patient payors
-
-
178,947
178,947
116,621
State revenue sharing
-
-
87.500
87.50
93.750
23,536
63,775
1,998,589
2,085,900
1,709,334
Less allowance for
doubtful receivables
-
9.283
246.000
255.
124.283
Net receivables
23.536
54.492
1.752.589
1.830.617
1.585.051
Inventories at cost
-
-
173.803
173.803
146.244
Total current assets
49.118
274.176
2.157.900
2.481.194
1.892.134
Restricted assets:
Equity in central treasury
-
180,127
-
180,127
119,057
Temporary investments
-
-
-
-
750,000
Receivable from State of Alaska
-
367.813
-
3(7.8
220.000
Total restricted assets
-
547.940
-
547.940
1.089.057
Borough designated investment
-
-
810,397
810,397
760,134
Long -term receivable from
Lutheran Hospitals and
Homes Society of America
-
-
1.846.000
2.656.397
1.846.000
2.656.397
1.118.000
Fixed assets, at cost:
-
-
1.878.134
Unclassified utility plant
in service
2,332,173
15,542,398
-
17,874,571
10,489,226
Hospital building and
fixed equipment
-
-
4,012,091
4,012,091
3,984,773
Major movable equipment
102.640
-
1.531.732
1.634.372
1.448.765
2,434,813
15,542,398
5,543,823
23,521,034
15,922,764
Less accumulated depreciation
56.092
897.683
x'„107.817
3.061.592
2.459.917
2,378,721
14,644,715
3,436,006
20,459,442
13,462,847
Construction work in progress
-
87.897
-
87.897
3.328.506
Net fixed assets
2.378.721
14.732.612
3.436.006
20.547.339
16.791.353
$2.427.839 $15.554.728 $8.250.303 $26.232.870 $21.650.678
-87-
Schedule 25
LIABILITIES AND FUND EOU.I1
Other accrued liabilities - - 5,967 5,967 25,775
2,781 17,106 285,832 305,719 295,109
Payable from restricted assets:
Contracts payable - 19,995 - 19,995 364,472
Retainage payable - 40,651 - 40,651 146,449
Unearned grant receipts - - - - 3,364
Total liabilities 2,781 77,752 285,832 366,365 809,394
Fund equities:
Contributions in aid
of construction:
City of Kodiak
State of Alaska
Federal government
Kodiak Island Borough
Less amortization of contributions
in aid of construction
Net contributions in
aid of construction
Retained earnings:
Undesignated
Total fund equities
- 229,166 - 229,166 229,166
2,412,453 15,201,130 - 17,613,583 13,368,437
- 200,000 2,237,104 2,437,104 2,457,233
2,412,453 15,630,296 3,663,270 21,706,019 17,437,687
54,974 895,623 950,597 592.095
14,734,673
67,579 742,303 x, 301.201 5,111,083 3,995,692
2,425,058 15,476,976 7,964,471 25,866,505 20,841,284
$2,427,839 $15,554,728 $8,250,303 $26,232,870 $21,650,678
-88-
Water
Totals
Sanitary
and Sewer
Landfill
Utility
Hospital 1988
1987
Liabilities:
Payable from current assets:
Bank overdraft
$ -
$ -
$ - $ - $
9,710
Advance from central treasury
-
-
- -
2,601
Accounts payable
445
9,805
41,750 52,000
54,994
Customer deposits
-
7,301
- 7,301
10,506
Accrued compensation
2,336
-
238,115 240,451
191,523
Other accrued liabilities - - 5,967 5,967 25,775
2,781 17,106 285,832 305,719 295,109
Payable from restricted assets:
Contracts payable - 19,995 - 19,995 364,472
Retainage payable - 40,651 - 40,651 146,449
Unearned grant receipts - - - - 3,364
Total liabilities 2,781 77,752 285,832 366,365 809,394
Fund equities:
Contributions in aid
of construction:
City of Kodiak
State of Alaska
Federal government
Kodiak Island Borough
Less amortization of contributions
in aid of construction
Net contributions in
aid of construction
Retained earnings:
Undesignated
Total fund equities
- 229,166 - 229,166 229,166
2,412,453 15,201,130 - 17,613,583 13,368,437
- 200,000 2,237,104 2,437,104 2,457,233
2,412,453 15,630,296 3,663,270 21,706,019 17,437,687
54,974 895,623 950,597 592.095
14,734,673
67,579 742,303 x, 301.201 5,111,083 3,995,692
2,425,058 15,476,976 7,964,471 25,866,505 20,841,284
$2,427,839 $15,554,728 $8,250,303 $26,232,870 $21,650,678
-88-
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
Year ended June 30, 1988
with comparative figures for 1987
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 administrative
Other
Total operating expenses
Operating income (loss)
Other income:
Interest income
Other, primarily State of
Alaska revenue sharing
Earnings (loss) before operating transfers
Operating transfers in
Operating transfers out
Net operating transfers
Net earnings (loss)
Amortization of contributions
in aid of construction
Increase (decrease) in retained earnings
Retained earnings at beginning of year
Retained earnings at end of year
Water
and
Sanitary Sewer
Landfill Utility- Hospital
$ - $ 172,875 $ -
- 216,125
449,488 - -
- - 6,087,580
33,014 -
- 12.713 90.6
449,488 434,727 6.178.200
92,144
57,585
-
-
216,890
-
487,465
-
-
5,988
35,475
-
56,092
303,559
266,618
-
27,112
-
-
-
2,704,084
-
-
906,166
-
-
1,580,947
95,246
21.189
736,935
661,810
5,457,815
(287.447
(227.083
720.385
-
22,933
-
343.101
22,933 343.101
(287,447) (204,150) 1,063,486
290,000 - -
- (105. -
290,000 (105,000 -
2,553 (309,150) 1,063,486
54,974 303.528
57,527 (5,622) 1,063,486
10,052 747,925 3,237,715
$ 67.579 742 ,303 $4.301.201
-89-
Schedule 26
Totals
1988 1987
$ 172,875 $ 156,901
216,125
184,762
449,488
158,942
6,087,580
5,009,194
33,014
94,463
1
99,188
7,062.415
5,703,450
149,729
50,896
216,890
235,781
487,465
146,613
41,463
24,989
626,269
446,413
27,112
76,641
2,704,084
2,483,452
906,166
875,788
1,580,947
1,538,427
116,435
22,908
205,855 (198,458
22,933 95,900
343.101
317.603
366•
413,503
571,889
215,045
290,000
-
(105,00Q)
-
185.000
-
756,889
215,045
358,502 197,077
1,115,391 412,122
3,995,692 3,583,570
$5.111.083 $3.995.692
.M
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES
IN FINANCIAL POSITION
Year ended June 30, 1988
with comparative figures for 1987
Sources of working capital:
Operations:
Net earnings (loss)
Depreciation which does not
use working capital
Working capital provided from
(absorbed by) operations
State of Alaska grants
Contribution from Kodiak Island Borough
General Fund for purchase of equipment
Net decrease in restricted assets
Total sources of working capital
Uses of working capital:
Acquisition of fixed assets
Increase in long -term receivable
Funding of Borough designated investments
Net decrease in current liabilities
payable from restricted assets
Total uses of working capital
Increase (decrease) in working capital
Changes in components of working capital:
Increase (decrease) in current assets:
Other cash and cash equivalents
Equity in central treasury
Receivables
Inventories
Prepaid expenses
Sanitary
Landf ill
$ 2,553
56,092
58,645
2,412,453
Water
and
Sewer
Utility
$ (309,150)
303,559
(5,591)
1,812,564
Increase (decrease) in current liabilities:
Advance from central treasury
Bank overdraft
Accounts payable
Customer deposits
Accrued liabilities
Increase (decrease) in working capital
541.117
2.471,098 2.348.090
2,434,813 1,812,564
453,639
2,434.813 2,266,203
$ 36.285 $ 81.887
$ - $ 200,000
25,582 (141,155)
5,739 9,670
(2,601) -
(4,699) (10,167)
- (3,205)
2,336 -
(4.964 (13,372
$ 36,285 $ 81.887
-91-
Schedule 27
Totals
Hospital 1988 1987
$1,063,486
$ 756,889
$ 215,045
266,618
626.269
446.413
50,263
50,263
1,330,104
1,383,158
661,458
-
4,225,017
2,042,496
43,315
43,315
140,318
-
541,117
2.767.985
1,373,419
6,192.607
5.612.257
134,878
4,382,255
2,276,245
728,000
728,000
298,000
50,263
50,263
760,134
-
453.639
2,866.281
913,141
5.614.157
6,200,660
489,224
589.060
(523.555
$ 460.278
$ 578.450
$ (588.403
$ 231,508
$ 431,508
$ (56,448)
-
(115,573)
12,911
230,157
245,566
(479,558)
27,559
27,559
11,870
-
-
(12,330
489,224
589.060
(523.555
(9,710)
11,872
26.784
28,946
$ 460.278
(2,601)
(9,710)
(2,994)
(3,205)
29,120
10,610
$ 578.450
2,601
9,710
4,906
3,786
43,845
64,848
$ (588.403)
-92-
KODIAK ISLAND BOROUGH
SANITARY LANDFILL ENTERPRISE FUND
BALANCE SHEET
June 30, 1988
with comparative figures for 1987
Schedule 28
1988 1987
Current assets:
Equity in central treasury $ 25,582 $ -
Customer receivables 23.536 17,797
Total current assets 49,118 17,797
Fixed assets, at cost:
Unclassified plant in service 2,332,173 -
Major movable equipment 102.640 -
2,434,813 -
Less accumulated depreciation 56,092
Net fixed assets 2,378,721 -
$2.427.839 $17.797
X.34-IF40 WEWMAP
Liabilities:
Current liabilities:
Advance from central treasury
$ -
$ 2,601
Accounts payable
445
5,144
Accrued compensation
2,336
-
Total current liabilities
2,781
7,745
Fund equities:
Contributions in aid of construction -
State of Alaska
2,412,453
-
Less amortization of contributions
in aid of construction
54.974
-
2,357,479
-
Retained earnings, undesignated
67,579
10,052
$2.427.839 $17.797
-93-
KODIAK ISLAND BOROUGH
SANITARY LANDFILL ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Revenues:
Sanitary landfill user fees
Total revenues
Operating expenses:
Personal services
Contracted services
Repairs and maintenance
Depreciation
Other:
Electric
Rent
Fuel
Utilities
Printing and binding
Automotive and travel
Other
Total operating expenses
Earnings (loss) before
operating transfers
Operating transfers in
Net earnings
Amortization of contributions
in aid of construction
Increase in retained earnings
Retained earnings at
beginning of year
Retained earnings at
end of year
Schedule 29
Variance
(72,144) 3,717
Favorable
1987
Budget Actual ( Unfavorable )
Actual
- 56,092
$ 602,000 $ 449,488 V152.512)
$158,942
602,000 449,488 (152,512
158.942
20,000 92,144
(72,144) 3,717
780,000 487,465
292,535 144,933
- 5,988
(5,988) -
- 56,092
(56,092) -
- 15,236
(15,236) -
92,000 36,617
55,383 -
- 6,198
(6,198) -
- 3,282
(3,282) -
- 230
(230) -
- 632
(632) -
- 33,051
(33,051 240
MIA]
(290,000) (287,447) 2,553 10,052
290,000 290,000 -
- 2,553 2,553 10,052
54,974 54,974 -
- 57,527 57,527 10,052
10,052 10,052 -
10,052 $ 67.579 $ 57.527 10,052
-94-
KODIAK ISLAND BOROUGH
SANITARY LANDFILL ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended June 30, 1988
with comparative figures for 1987
Sources of working capital:
Operations:
Net earnings
Depreciation which does not
use working capital
Working capital provided by operations
State of Alaska grants
Total sources of working capital
Uses of working capital:
Acquisition of fixed assets
Total uses of working capital
Increase in working capital
Changes in components of working capital:
Increase (decrease) in current assets:
Equity in central treasury
Receivables
Increase (decrease) in current liabilities:
Advance from central treasury
Accounts payable
Accrued compensation
Increase in working capital
• . 1
$ 2,553 $10,052
56,092 -
58,645 10,052
2.412.453 -
2.471,098 10,052
2,434,813 -
2.434.813 -
$ 36.285 W.052
$ 25,582 $ -
5,739 17,797
31,321 17.797
(2,601) 2,601
(4,699) 5,144
2,336 -
(4.964 7,745
E toltilm
-95-
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
BALANCE SHEET
June 30, 1988
with comparative figures for 1987
ASSETS
Current assets:
Equity in central treasury $ 19,684 $ 160,839
Temporary investments 200,000 -
Customer receivables 63,775 54,105
Less allowance for doubtful receivables (9.283 (9,283
Net customer receivables 54,492 44,822
Total current assets 274.176 205,661
Restricted assets:
Equity in central treasury 232,891 119,057
Temporary investments - 750,000
Receivable from State of Alaska 315,049 220,000
Total restricted assets 547.940 1.089,057
Fixed assets, at cost:
Unclassified utility plant in service 15,542,398 10,489,226
Accumulated depreciation (897.683 (594,125
Net utility plant in service 14,644,715 9,895,101
Construction work in progress 87,897 3.328.506
Net fixed assets 14,732,612 13.223.607
$15.554.728 $14.518.325
-96-
Schedule 31
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Payable from current assets:
Accounts payable
Customer deposits
Total payable from current assets
Payable from restricted assets:
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
1988 1987
$ 9,805 $ 19,972
7,301 10,50
17,106 30,478
19,995 364,472
40,651 146,449
- 3,364
60.646 514,285
77,752 544.763
229,166
15,201,130
200,000
15,630,296
(895,623
14,734,673
229,166
13,368,437
220,129
13,817,732
(592,095
13,225,637
742,E
747,925
15.476,976
13.973.562
$15.554.728
$14.518.325
-97-
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
Year ended June 30, 1988
with comparative figures for 1987
Revenues:
Water sales
Sewer service charges
Installation charges
Other
Total revenues
Operating expenses:
Water:
Personal services
Purchased water
Repairs and maintenance
Depreciation
Installation costs
Other:
Rent
Training
Advertising and hearings
Printing and binding
Automotive and travel
Office supplies and postage
Small tools
Total water
1
Schedule 32
1988
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
$169,000
178,000
10,000
12,000
369,000
19,900
109,500
20,350
20,000
6,000
�10i1
250
500
1,000
2,000
5,000
185,000
$172,875
216,125
33,014
12,713
434,727
30,366
71,980
17,850
112,470
8,251
817
25
39
615
1,001
1,116
244.530
$ 3,875
38,125
23,014
713
65,727
(10,466)
37,520
2,500
(92,470)
(2,251)
(317)
(25)
211
(115)
(1)
884
5,00
(59,530
$ 156,901
184,762
94,463
6, 753
442.879
22,006
102,781
9,653
68,378
41,429
722
763
59
963
784
944
248,482
1
J
r
-98-
Schedule 32 (Continued
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
(Continued)
Year ended June 30, 1988
with comparative figures for 1987
Variance
Favorable 1987
Budget Actual ( Unfavorable ) Actual
Sewer:
Personal services
$ 15,000
$ 27,219
Purchased sewer treatment
116,000
144,910
Repairs and maintenance
19,950
17,625
Depreciation
20,000
191,089
Installation costs
2,000
18,861
Other:
(656)
-
Electric
15,000
14,420
Rent
500
693
Training
-
25
Advertising and hearings
250
27
Printing and binding
-
656
Contracted services
-
-
Automotive and travel
1,000
700
Office supplies and postage
-
38
Small tools
1,800
1
Total sewer
191,500
417,280
Total operating expenses
376,500
661,810
Operating loss
(1.500
(227.083
Other income (expense):
Interest income
7,500
22,933
Loss before operating
transfer
-
204,150
Operating transfer out
105.000
105,000
Net loss
105,000
309,150
Amortization of contributions
in aid of construction
-
303,528
Increase (decrease) in
retained earnings
$(1 05.000 )
(5,622)
Retained earnings at beginning
of year
747.925
Retained earnings at end of year
742
$ (12,219) $ 25,173
(28,910)
133,000
2,325
15,336
(171,089)
130,729
(16,861)
35,212
580
14,397
(193)
769
(25)
763
223
59
(656)
-
-
1,680
300
902
(38)
-
783
1,543
(225.780
359,563
(285,310
608. 045
(219,583
(165,166
15.433 95,900
(204,150) 69,266
(204,150) 69,266
303.528 197.077
$ 99.378 127,811
620,114
747,92
-99-
KODIAK ISLAND BOROUGH
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended June 30, 1988
with comparative figures for 1987
1988 1987
Sources of working capital:
Operations:
Net loss
$ (309,150)
$ (69,266)
Depreciation which does not
use working capital
303,559
199.107
Working capital provided from
(absorbed by) operations
(5,591)
129,841
State of Alaska grants
1,812,564
2,042,496
Net decrease in restricted assets
541,117
2,767.985
Total sources of working capital
2,348,090
4.940.322
Uses of working capital:
Construction of plant
1,812,564
2,042,496
Net decrease in current liabilities
payable from restricted assets
453.639
2,866.281
Total uses of working capital
2,266,203
4,908.777
Increase in working capital
$ 81.887
$ 31.545
Changes in components of working capital:
Increase (decrease) in current assets:
Equity in central treasury
$ (141,155)
$ 12,911
Temporary cash investments
200,000
-
Customer receivables
9,670
68,515
25,347
38,258
Increase (decrease) in current liabilities:
Accounts payable
(10,167)
2,927
Customer deposits
(3.205
3.786
(13.372
6,713
Increase in working capital
$ 81.887
$ 31.545
501415
Schedule 34
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
BALANCE SHEET
December 31, 1987
with comparative figures for 1986
ASSETS
1987
1986
Current assets:
Other cash balances
$ 231,508
$ -
Receivables:
Patients
1,442,750
1,116,214
Lutheran Hospitals and Homes Society of America
283,141
306,774
'
City of Kodiak
6,251
4,073
Third party
178,947
116,621
State revenue sharing
Less allowance for doubtful receivables
87,500
(246,000
93,750
(115,900
Net receivables
1,752,589
1,522,432
Inventories, at cost
173,803
146,244
Total current assets
2,157,900
1,668,676
Borough designated investments
810,397
760,134
Receivable from Lutheran Hospitals and
Homes Society of America
1,846,000
1,118,000
Fixed assets, at cost:
Land
8,009
-
Building and fixed equipment
4,004,082
3,984,773
Major movable equipment
1,531.732
1,448.765
5,543,823
5,433,538
Less accumulated depreciation
Net fixed assets
2,107.817
1,865,792
3,567.746
3,436,006
$8.250.303
$7.114.556
LIABILITIES AND FUND EQUITY
'
Current liabilities:
Bank overdraft
$ -
$ 9,710
Accounts payable
41,750
29,878
'
Accrued liabilities:
Compensation
238,115
191,523
Other
5 ,967
25.775
Total current liabilities
285,832
256,886
Fund equity
7,964,471
6,857.670
$8.250.303
$7.114.556
-101 -
Schedule 35
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND EQUITY
Year ended December 31, 1987
with comparative figures for 1986
1987 1986
Revenues:
,
Patient
$6,484,413
$5,579,432
Less allowances for uncollectible accounts
(396,833
(570.238
Net patient revenues
6,087,580
5,009
Other
� Q&
92.4 -
Total revenues
6.178,200
5,101.629
'
Operating expenses:
P 8 P
Depreciation
266,618
247,306
Professional care of patients
2,704,084
2,483,452
Plant operation and household
906,166
875,788
General administrative
1.580,947
1,538.427
Total operating expenses
5.457.815
5,144,973
'
Operating income (loss)
720,385
(43,344)
Other income, primarily State of Alaska revenue sharing
343,101
317.603
Net earnings
1,063,486
274,259
Fund equity at beginning of year
6,857,670
6,443,093
'
Equity transfers from Kodiak Island Borough
43.315
140.31
Fund equity at end of year
$7.964.471
$6.857.670
r]
r
-102 -
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
Schedule 36
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended December 31, 1987
with comparative figures for 1986
Sources of working capital:
Operations:
Net earnings
Depreciation which does not require
working capital
Working capital provided by operations
Contribution from Kodiak Island Borough
General Fund for equipment purchases
Total sources of working capital
Uses of working capital:
Purchase of Borough designated investments
Loans to Lutheran Hospitals and
Homes Society of America
Construction of building improvements
and purchase of equipment
Total uses of working capital
Increase (decrease) in working capital
Changes in components of working capital:
Increase (decrease) in current assets:
Other cash balances
Receivables
Inventories
Prepaid expenses
Increase (decrease) in current liabilities:
Bank overdraft
Accounts payable
Accrued liabilities
Increase (decrease) in working capital
$1,063,486 $ 274,259
266,618 247,306
1,330,104 521,565
43.315 140,318
1,373,419 661.883
50,263
760,134
728,000
298,000
134.878
233,749
913,141
1.291, 883
460.278
$ (630.000
$ 231,508 $ (56,448)
230,157 (522,702)
27,559 11,870
- (12,330
489,224 (579.610
(9,710) 9,710
11,872 (3,165)
26,784 43,845
28,946 50.390
-103-
� I
'
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.
KODIAK ISLAND BOROUGH
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS,
LIABILITIES AND FUND BALANCES
Year ended June 30, 1988
STUDENT ACTIVITIES FUND
ASSETS
Cash, including time
certificates of deposit
Other receivables
LIABILITIES
Accounts payable
Due to General Fund
Due to student organizations
DEFERRED COMPENSATION FUND
ASSETS
ICMA investments
LIABILITIES
Due to participants
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash, including time
certificates of deposit
Other receivables
ICMA investments
L����� M1
Accounts payable
Due to General Fund
Due to student organizations
Due to participants
Balance at Balance at
July 1, 1987 Additions Deletions June 30, 1988
$104,984 $262,826 $254,574 $113,236
2.361 236 2.361 236
t l07.34 5 $263.062 $256.935 $113.472
$ 6,005 $ 6,461 $ 6,005 $ 6,461
219 - 219 -
101,121 256,601 250,711 107.011
$107.345 $263.062 $256.935 $113,4
1 356.886 t 26,362 t_ $383.248
356.886 J 26,362 1 $383.248
$104,984 $262,826 $254,574 $113,236
2,361 236 2,361 236
356,886 26,362 - 383.248
$ 464,231 424 $256,93 $496,72
$ 6,005 $ 6,461 $ 6,005 $ 6,461
219 - 219 -
101,121 256,601 250,711 107,011
356.886 26,362 - 383.248
$ 464,231 $289,424 $256.935 $496,72
-104-
1
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.
7
t
i
i
i
i
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF GENERAL FIXED ASSETS BY SOURCE
June 30, 1988
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
-105-
Schedule 38
$ 7,469,315
50,813,669
842,139
2,901,849
9,763.157
$71.790.129
$41,485,686
637,706
14,745,988
4,083,018
361,389
10,476,342
71.790.129
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
June 30, 1988
Total Land
Staff agencies:
Borough mayor
$ 6,868
$ -
Borough clerk
18,698
-
Finance
56,145
-
Assessing
18,575
-
Community development
24,438
-
Engineering
54,569
Data services
274,717
-
Resource management
2,530
-
Facilities
39,823
-
General administration
85,214
-
Mental health
56,848
-
Total staff agencies
638,425
-
Public safety:
Emergency preparedness
94,724
-
Fire Protection Area 1
632,491
-
Women's Bay Fire District
606.698
-
Total public safety
1,333,913
-
Schools
47,228,201
-
Teacher housing
125,715
-
General governmental buildings
4,389,264
-
Building sites
110,648
110,648
Playgrounds
710,239
-
Other
131,900
-
Total general fixed assets
allocated to functions
54,668,305
110,648
Undeveloped land
7,358,667
7,358,667
Construction work in progress
9,763,157
-
Total general fixed assets
$71.790.129
$7.469.315
-106-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Improvements Machinery
Other Than and
Buildings Buildings Equipment
$ 6,868
- 18,698
- - 56,145
- - 18,575
24,438
54,569
274,717
2,530
39,823
85,214
56,848
- - 638,425
94,724
423,750
-
208,741
425.655
-
181,043
849,405
-
484,508
45,449,285
-
1,778,916
125,715
-
-
4,389,264
-
710,239
-
-
131.900
-
50,813,669
842,139
2,901,849
9,763,157
-
-
$60.576.826
$842,1
$2.901.849
-107-
- A
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
Year ended June 30, 1988
Schedule 40
-108-
General Fixed
General Fixed
Assets at
Assets at
July 1. 1987
Additions
Deductions
June 30, 1988
Staff agencies:
Borough mayor
$ 6,868
$ -
$ -
$ 6,868
Borough clerk
16,659
2,039
-
18,698
Finance
40,760
15,385
-
56,145
Assessing
18,575
-
-
18,575
Community development
21,988
2,450
-
24,438
Engineering
40,123
14,446
-
54,569
Data services
254,042
20,675
-
274,717
Resource management
2,530
-
-
2,530
Facilities
39,823
-
-
39,823
General administration
85,214
-
-
85,214
Mental health
56,848
-
-
56,848
Total staff
agencies
583.430
54.995
-
638,425
Public safety:
Emergency preparedness
15,156
79,568
-
94,724
Fire Protection Area 1
632,491
-
-
632,491
Women's Bay Fire
District
606,698
-
-
606,698
Total public
safety
1,254.345
79.568
-
1,333.913
Schools
48,308,987
275,031
1,355,817
47,228,201
Teacher housing
125,715
-
-
125,715
General governmental
buildings
4,268,164
121,100
-
4,389,264
Building sites
110,648
-
-
110,648
Playgrounds
710,239
-
-
710,239
Other
3,153,235
111,900
3.133,235
131.900
Total general
fixed assets
allocated to
functions
58,514,763
642,594
4,489,052
54,668,305
Undeveloped land
7,358,667
-
-
7,358,667
Construction work in
progress
681,445
9.302.946
221,234
9.763,157
Total general
fixed assets
$66.554.875
0.945.540
$4.710.286
$71.790.129
-108-
1
P ,
GENERAL LONG -TERM DEBT ACCOUNT GROUP
This is a self - balancing account group which records the Borough's unmatured
general long -term debt. This debt is payable from monies presently in the
various Debt Service Funds and from future general Borough revenues. The debt
is backed by the full faith and credit of the Borough.
LI
KODIAK ISLAND BOROUGH
GENERAL LONG -TERM DEBT ACCOUNT GROUP
STATEMENT OF GENERAL LONG -TERM DEBT
June 30, 1988
with comparative figures for 1987
Amount available and to be provided for
the payment of general long -term debt:
Amount available in Debt Service Funds:
School serial bonds
Accrued annual leave
Amount to be provided:
School serial bonds
Environmental Protection Agency loan
General obligation school bonds:
1967 Improvement
1974B Refunding
1980A Improvement
1986A Improvement
Environmental Protection Agency loan
Accrued annual leave
Schedule 41
$ 7,111,644 $ 7,279,292
133.423 144,215
7,245,067 7,423,507
12,298,356
13,845,708
343.749
364,583
12,642,105
14,210,291
$21.633.798
$19.887.172
1,450,000
9,960,000
8,00
19,410,000
343,749
133,423
$ 50,000
1,685,000
10,390,000
9.000,000
21,125,000
364,583
144,215
$19.887.172 $21.633.798
-109-
1
fl
1
1
SECTION 3
STATISTICAL SECTION
1
STATISTICAL TABLES
Statistical tables reflect social and economic data, financial trends and the
fiscal capacity of the governmental unit.
fl
r
M M M M M= ! M M M M M i M= M M M M
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL GOVERNMENTAL EXPENDITURES
AND OTHER USES BY FUNCTION (a)
Last ten fiscal years
(a) Includes general fund only.
(b) Including operating transfers for this function.
Other
Operating
Transfers
$ 153,146
525,603
519,212
506,125
4,742,292
1,185,630
1,080,310
447,669
553,373
890,000
Table 1
Total
$2,144,647
2,909,039
3,788,467
3,893,139
8,434,431
4,962,232
4,913,578
4,551,179
5,123,941
5,578,069
(c) 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.
(d) The Debt Service Funds are now maintained as separate funds. Some amounts (included in other operating
transfers) go to the Debt Service Funds from the General Fund.
110
Local
Service
Fiscal
General
Roads and
Health and
Debt
Year
Government
Trails (c)
Sanitation (b)
Education (b)
Service
1979
$ 876,891
$ -
$163,455
$ 824,164
$126,991
1980
995,585
-
189,280
1,113,882
84,689
1981
1,525,087
-
342,696
1,298,585
102,887 (d)
1982
1,694,923
-
785,644
906,447
-
1983
1,857,316
2,034
446,001
1,386,788
-
1984
1,588,182
-
709,508
1,478,912
-
1985
1,677,539
-
547,388
1,608,341
-
1986
1,877,136
-
563,516
1,662,858
-
1987
2,089,508
-
579,930
1,901,130
-
1988
1,964,710
545,954
2,177,405
(a) Includes general fund only.
(b) Including operating transfers for this function.
Other
Operating
Transfers
$ 153,146
525,603
519,212
506,125
4,742,292
1,185,630
1,080,310
447,669
553,373
890,000
Table 1
Total
$2,144,647
2,909,039
3,788,467
3,893,139
8,434,431
4,962,232
4,913,578
4,551,179
5,123,941
5,578,069
(c) 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.
(d) The Debt Service Funds are now maintained as separate funds. Some amounts (included in other operating
transfers) go to the Debt Service Funds from the General Fund.
110
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL REVENUES BY SOURCE (a)
Last ten fiscal years
Table 2
(a) Includes general fund only.
(b) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(c) Includes a $481,269 loss on investment relating to the Lion Capital Group.
111
Licenses
Inter-
Charges
Fiscal
and
governmental
for
Operating
Year
Taxes
Permits
Revenue
Service
Miscellaneous
Transfers
Total
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 (b)
-
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)(c)
53,660
4
1987
2,188,750
138,151
2,114,283
99,330
451,518
57,090
5,049,122
1988
2,491,065
97,959
2,291,627
100
355,802
114,635
5,351,188
(a) Includes general fund only.
(b) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(c) Includes a $481,269 loss on investment relating to the Lion Capital Group.
111
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX LEVIES AND COLLECTIONS
Last ten fiscal years
Table 3
Percent of
Outstanding
Delinquent
Delinquent
Taxes to
Percent of
Tax Levy
$ 166,635
11.7
Percent
Delinquent
1,051,093 (b)
Total Tax
Fiscal
Total
Current Tax
of Levy
Tax
Total Tax
Collections
Year
Tax Levy
Collections
Collected
Collections
Collections
to Tax Levy
1979
$1,421,058
$1,328,655
93.5
$ 51,329
$1,379,984
97.1
1980
1,915,340
1,764,316
92.1
48,923
1,813,239
94.7
1981
2,257,590
1,496,037
66.3
41,038
1,537,075
68.1
1982 (c)
2,118,431
2,095,431
98.9
978,969
3,074,400
145.1
1983
1,876,462
1,844,867
98.3
94,231
1,939,098
103.3
1984
1,646,752
1,617,654
98.2
31,487
1,649,141
100.1
1985
1,508,003
1,492,923
99.0
10,733
1,503,656
99.7
1986
2,024,237
1,986,914
98.2
13,504
2,000,418
98.8
1987
2,181,410
2,176,543
99.7
12,207
2,188,750
100.3
1988
1,926,427
1,912,214
99.3
54,625
1,966,839
102.1
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.
112
Percent of
Outstanding
Delinquent
Delinquent
Taxes to
Taxes
Tax Levy
$ 166,635
11.7
330,578 (a)
17.3
1,051,093 (b)
46.6
95,124
4.5
32,488
1.7
30,099
1.8
19,366
1.3
43,185
2.1
49,235
2.2
25,610
1.3
(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.
112
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
Last ten fiscal years
Fiscal
Year
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Waxi'WETTIMPIN 7:14377104 TOW OU
Assessed
$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
379,969,521
Estimated
Actual Value
$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
379,969,521
Assessed
$ 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
48,795,064
Estimated
Actual Value
$ 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
156,628,800
(a) Exempted boat full and true value for $5 and $15 fees.
Assessed
$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
428,764,585
(b) Reflects exemptions of boats and inventories.
(c) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
113
Estimated
$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
536,598,321
Table 4
Ratio
of Total
Assessed
to Total
Estimated
Actual
Value
100
100
100
100
78.6
80.7
80.1
84.7
88.4
79.9
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS
(Per $100 of Assessed Value)
Tbale5
1
Last ten Fiscal Years
114
u
Road
Service Districts
Fire Districts
KIB
City
Debt
Fiscal
General
of
Service
Monashka
Service
Bayview
Women's
Service
Women's
Year
Fund
Kodiak
Funds
Total Bay
District 1
Road
Bay
District 1
Bay
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
1988
4.51
2.00
0.00
6.51 2.00
0.25
1.00
0.50
1.50
0.25
a.
The property
tax millage for
the Kodiak
Island Borough has
not in
'
the past
years been broken
out to indicate the true millage
that
would be
distributed to the
various entities.
b.
Contributions
from the Borough
to the School District for the
last
ten years
is calculated to
have been as
follows:
Fiscal
Assessed
Amount of
Millage
Year
Value
Contribution
Equivalent
1979
$182,722,540
$ 824,164
4.51
1980
1981
309,925,500
357,662,900
1,023,435
1,066,927
3.30
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
'
1988
428,764,585
2,343,992
5.47
114
u
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
TEN LARGEST TAXPAYERS
Year ended June 30, 1988
115
Percentage
Percentage
of Total
1988
of Total
Assessed
Assessed
Taxes
Taxes
TaxRayer
Valuation
Valuation
Levied
Levied
International Seafoods of
Alaska
2.39%
$10,267,051
$ 61,489
2.47%
Telephone Utilities of the
Northland
1.64
7,038,790
33,735
1.35
Sea -Land Services, Inc.
1.51
6,482,244
40,504
1.63
King Crab, Inc.
1.44
6,191,083
35,843
1.44
Alaska Pacific Seafoods
1.42
6,099,090
33,827
1.36
Waldos /O'Kraft & Son, Inc.
(Retailers)
1.30
5,594,665
34,586
1.40
All Alaskan Seafoods, Inc.
1.19
5,095,210
25,195
1.01
Brechan Enterprises, Inc.
(Construction)
1.01
4,326,770
25,198
1.01
Western Alaska Fisheries
1.00
4,289,392
25,588
1.03
Queen Fisheries, Inc.
0.99
4,249,013
24,823
1.00
Totals
13.89
$59.633.308
$340.788
13.70
115
M =� M M M M M M M M M s= M M M M M
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
RATIO OF NET GENERAL BONDED DEBT
Last ten fiscal years
FVIMA
(a) 1980 population is per U.S. Bureau of Census; others are estimates from the Borough Planning Department
based on the "Housing Unit Method."
(b) This figure was via a joint Borough /City special census. This figure was accepted and certified by the
State demographer on November 17, 1982 and later accepted by the Federal Bureau of Census.
116
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
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
1988
14,375
428,764,585
22,160,000
7,111,644
15,048,356
3.5
1,047
(a) 1980 population is per U.S. Bureau of Census; others are estimates from the Borough Planning Department
based on the "Housing Unit Method."
(b) This figure was via a joint Borough /City special census. This figure was accepted and certified by the
State demographer on November 17, 1982 and later accepted by the Federal Bureau of Census.
116
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
Year ended June 30, 1988
(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.
117
Percentage
Kodiak
Applicable
Island
Net Debt
to this
Borough's
Outstanding
Governmental
Share of
Name of Governments Unit
(a)
Unit (b)
Debt (c)
Kodiak Island Borough:
General obligation bonds
$15,048,356
100%
$15,448,356
City of Kodiak:
General obligation bonds
1,565,000
64%
1,001,600
Revenue bonds
1,670,000
64%
1,068.804
Total
$18.283.356
$17.118.756
(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.
117
1
1
1
1
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 1988
Assessed value
Plus exempt property
Total
Table 9
$ 428,764,585
1,121.834.040
$1.556.598.625
The State of Alaska does not mandate a debt limit to its municipalities and
political subdivisions. Debt capacity is ultimately determined by the
marketplace.
118
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
RATIO OF ANNUAL DEBT SERVICE EXPENDIT
FOR GENERAL BONDED DEBT TO TOTAL
GENERAL EXPENDITURES
Last ten fiscal years
Table 10
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case of term bonds.
119
M r r r r r M M M M r M M M M M M r M
Ratio of
Debt Service
Total
Total
to General
Fiscal
Principal
Interest
Debt
General
Expenditures
Year
(a)
and Fees
Service
Expenditures
(percent)
1979
$ 200,000
$ 241,226
$ 441,226
$2,144,647
20.6
1980
205,000
229,737
434,737
2,909,039
14.9
1981
215,000
218,521
433,521
3,788,467
11.4
1982
220,000
1,680,912
1,900,912
3,893,139
48.8
1983
515,000
1,185,806
1,700,806
8,434,431
20.2
1984
1,750,000
1,555,900
3,305,900
4,962,232
66.6
1985
4,210,000
2,108,539
6,318,539
4,913,578
128.6
1986
5,080,000
1,727,562
6,807,562
4,551,179
149.6
1987
4,750,417
1,787,384
6,537,801
5,123,941
127.6
1988
3,785,834
1,695,468
5,481,302
5,578,069
98.3
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case of term bonds.
119
M r r r r r M M M M r M M M M M M r M
'M it m m MM MM MM m m m m m r m M
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
DEMOGRAPHIC STATISTICS
Last ten fiscal years
Fiscal
Year
Population (a)
School Enrollment (b)
1979
9,701
2,143
1980
9,939
2,149
1981
10,124 (d)
2,086
1982
12,714
2,106
1983
13,079
2,189
1984
13,389
2,180
1985
13,748
2,295
1986
13,952
2,285
1987
14,127
2,329
1988
14,375
2,531
Table 11
mDlovment
8.0%
9.7
10.0
12.1
9.7
6.9
9.6
7.7
7.4
6.2
(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.
120
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS
Year ended June 30, 1988
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.
121
M M M M M r M= M M M M M M M M M M M
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
59,814
$1,000,000
Earl Smith
Fire Chief, Service Area One
50,319
-
Perry L. Page
Data Processing Manager
45,587
-
Gaye Vaughan
Borough Clerk
46,125
-
Linda Freed
Director of Planning and
Community Development
56,932
-
Barbara Templeton
Cashier
21,733
50,000
David Crowe
Engineer
62,842
-
Wayne Haerer
Assessor /Appraiser
49,092
-
Pam Delys- Baglien
Director of Mental Health
67,674
-
Robert McFarlane
Facilities Coordinator
45,587
-
(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.
121
M M M M M r M= M M M M M M M M M M M
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
1
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
June 30, 1988
Annual Principal and Interest Requirements*
General Obligation School Bonds
L
1
122
Calendar
Year
Principal
Interest
Total
1988
$ 2,315,000
$ 861,840 **
$ 3,176,840
1989
3,420,000
1,471,702 **
4,891,702
1990
1,830,000
1,261,126 **
3,091,126
1991
1,895,000
1,120,682 **
3,015,682
1992
1,960,000
975,503 **
2,935,503
1993
1,680,000
824,642 **
2,504,642
1994
1,735,000
692,962 **
2,427,962
'
1995
1996
1,795,000
1,360,000
556,000 **
417,400 **
2,351,000
1,777,400
1997
925,000
333,600
1,258,600
1998
1,000,000
259,600
1,259,600
1999
1,080,000
179,600
1,259,600
2000
1,165,000
93,200
1,258,200
'
$22.160.000
$9.047.857
$31.207.857
* Does not include
issues that have been fully defeased.
'
** Includes imputed
interest of 8% on Variable Rate Demand Bonds,
Series
1984B and 1986A.
Note: This Table (and
subsidiary Tables 13a
through 13e 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.
L
1
122
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL REFUNDING BONDS, SERIES 1974B
Retirement Schedule
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 90 have been
retired. Bonds numbered 91 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
1988 and after are callable beginning in 1988 and this call privilege will be
exercised.
Bonds were issued to extend and improve the school system. Bonds are payable
at the Central Bank of Denver, Denver, Colorado.
$1.450.000 1112.375 $164.937 $1.727.312
* Maturities on and after August 1, 1988 are callable at par on this and any
interest date thereafter.
Note: This issue was called in its entirety on August 1, 1988.
Table 13a
�I
123
Bond
Principal
Interest
Interest
Interest
Coupon
Numbers
Due
Due
Due
Year
Rate
Number
Inclusive
August 1
February 1
August 1
Total
1988
7.25
27 -28
91 -140
$ 250,000
$ -
$ 52,563
$ 302,563
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
$1.450.000 1112.375 $164.937 $1.727.312
* Maturities on and after August 1, 1988 are callable at par on this and any
interest date thereafter.
Note: This issue was called in its entirety on August 1, 1988.
Table 13a
�I
123
L
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
Table 13b
GENERAL OBLIGATION SCHOOL EXTENSION AND
IMPROVEMENT BONDS, SERIES 1980A
Retirement Schedule
This issue, dated August 1, 1980, consists of 2,420 bonds in the amount of
$5,000 each, totaling $12,100,000. Bonds numbered 1 through 428 have been
retired. Bonds numbered 429 through 2420 bear interest at the rate indicated
below.
'
Bonds are retired
serially
in numerical order over
a period of 20 years.
332,141
Retirement date is
August 1
of each year beginning in
1982. Bonds maturing in
7.45
1990 and after are
callable
on this date and any interest date thereafter.
310,789
1,251,578
1993
7.60
974 -1109
Bonds were issued
to extend
and improve the school system. Bonds are payable
1,254,642
at the Rainier Bank and Trust,
Seattle, Washington.
7.75
1110 -1258
735,000
261,481
261,481
1,257,962
1995
Bond
Principal Interest
Interest
233,000
Interest
Numbers
Due Due
Due
8.00
Year Rate Inclusive
August 1 February 1
August 1 Total
1988 9.00 429 -521 $ 465,000 $ - $ 395,277 $ 860,277
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
* Maturities on and after August 1, 1990 are callable at par on this or any
interest date thereafter.
1 124
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
$9.960.000
$2.785.134
$3.180.411
$15.925.545
* Maturities on and after August 1, 1990 are callable at par on this or any
interest date thereafter.
1 124
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, SERIES 1984B
Retirement Schedule
Table 13c
This issue, dated May 1984, consisted initially of nine bonds totaling
$9,500,000. Bonds in the amount of $6,750,000 have been retired.
Bonds are retired serially in numerical order over a period of six years.
Retirement date is quarterly, each as indicated below.
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
denominations 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.
125
Interest
Principal
Interest
Maturity
Rate*
Quarterly
Quarterly
Total
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
$2.750.000
11,000
$165.000
561,000
$2.915.000
* 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
denominations 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.
125
Table 13d
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, SERIES 1986A
Retirement Schedule
This issue, dated June 4, 1986, consisted initially 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 39 have been retired. Bonds
numbered 40 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 & 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.
TOTALS
* Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
126
Bond
Interest
Numbers
Principal
Maturi
Rate*
Inclusive
Amount
Interest
Total
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
250.004
5.000
255.000
TOTALS
* Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
126
r
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.
Interest
Interest
Bond
Principal
Due
Interest
Numbers
Due
Year
Rate
Inclusive
August 1
1988
5.50
494 -548
$ 275,000
1989*
5.55
549 -606
290,000
1990
5.60
607 -667
305,000
1991
5.65
668 -732
325,000
1992
5.70
733 -800
340.000
$1.535.000
Interest
Interest
Due
Due
Februarx 1
August 1
Total
$ -
$ 21,511
$ 296,511
17,729
17,729
325,458
27,160
27,160
359,320
10,311
10,311
345,622
$ 64.890 $ 86,401 $1.686.291
* Funds are in Account No. 87 -1248 with the Central Bank of Denver.
Maturities of 1990 through 1992 will be called on August 1, 1989, per
Section 4 of the Escrow Agreement with Central Bank of Denver, Denver,
Colorado, dated October 1, 1974.
MEMO ONLY - Refunded by August 1, 1974 issue.
Table 13e I
127
M M M� M�- M M M M! M M M M M M � M M
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
Last ten fiscal years
Source:
1. From local bankers
* Estimated actual value
N/A - Not available
1111014- w ,
Commercial
Commercial
CONSTRUCTION
Residential
$ 66,992,335
$109,403,194
$ 2,317,150
77,248,643
103,559,568
Deposits in
Fiscal
No. of
51,972,410
No. of
129,872,475
Local
Year
Units
Value
Units
Value
Banks (1)
1979
15
$ 518,908
39
$ 9,183,204
$11,304,893
1980
20
354,538
32
1,691,266
12,159,684
1981
40
331,941
55
2,163,650
65,921,937
1982
53
826,596
71
3,208,175
71,801,883
1983
77
7,708,474
136
10,631,463
54,032,065
1984
63
2,965,496
74
5,495,636
59,010,831
1985
62
10,316,833
99
7,928,241
61,598,752
1986
54
3,012,970
118
10,563,802
64,420,672
1987
35
4,256,169
134
5,313,110
78,402,810
1988
42
549,382
91
4,314,003
N/A
Source:
1. From local bankers
* Estimated actual value
N/A - Not available
1111014- w ,
Commercial
Residential
Nontaxable
$ 66,992,335
$109,403,194
$ 2,317,150
77,248,643
103,559,568
51,735,973
77,980,241
109,408,625
51,972,410
86,107,893
129,872,475
208,695,345
107,487,339
199,913,042
245,623,546
104,233,851
220,001,411
739,960,807
116,411,447
236,302,401
1,053,965,717
115,574,577
258,311,716
1,127,834,040
114,409,875
252,950,321
1,134,524,305
123,053,031
255,417,891
1,159,131,464
128
(a) Prior years include lands designated recreational;
1986 and after represents actual acres of parks.
129
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
MISCELLANEOUS
STATISTICAL
DATA
Years ended June 30, 1979 through
1988
Date of incorporation - September 30,
1963, Second Class
Borough by
Chapter 146
Sessions, Laws of Alaska 1961, as amended, Form of Government
- Mayor /Assembly.
1979
1980
1981
1982
Area - square miles
4,900
4,900
4,900
4,900
Miles of improved street
16.48
16.48
16.48
16.48
Miles of sanitary sewers
-
-
-
-
r
Number of water taps
-
-
-
-
Number of sanitary sewer taps
-
-
-
-
Building permits:
Permits issued
52
52
95
124
Value of buildings (thousands)
9,701.9
2,045.8
2,495.5
4,034.7
Fire protection:
'
Number of fire stations
-
-
-
-
Number of employees
-
-
-
-
Police protection - none Recreation:
Parks - number of acres
740.5
1,500
2,230
2,440
Facilities:
Number of playgrounds
-
-
-
-
Number of swimming pools
1
1
1
1
Education:
Number of schools:
Elementary
11
11
11
10
Junior high /middle
4
4
4
4
Senior high /middle
5
6
6
6
Vocational technology
1
1
1
1
Number of administrative personnel
163
181
187
178
Number of teachers
141
150
150
150
Number of students
2,143
2,149
2,086
2
Number of municipal employees
21
32
37
39
Elections:
'
Number of registered voters
4,778
5,123
5,198
5,883
Number voting in last election
1
1,595
1,613
1,619
Percent of registered voters
34.8
31.1
31.0
27.5
,
(a) Prior years include lands designated recreational;
1986 and after represents actual acres of parks.
129
1
1
1
i
l
1
1
1
1
1
1
1
1
1
1
1
1
1
f
1983
1984
1985
1986
1987
1988
4
4,900
4,900
4,900
4,900
4,900
4,900
16.48
16.48
17.29
19.53
20.3
21.5
1
3.7
4.2
9.63
15.49
16
309
309
309
410
659
707
170
170
170
327
619
666
213
137
161
172
169
133
18,339.9
8,416.1
17,858.0
12,196.8
9,570.0
4,863.4
-
2
2
2
2
2
-
1
1
1
1
1
3,277
4,099
3,414
220(a)
222
223
4
5
5
14
15
15
1
1
1
1
1
1
10
10
10
10
10
10
4
4
4
4
4
4
6
7
7
7
7
7
1
1
1
1
1
1
179
174
158
159
152
167
152
156
157
154
148
169
2,189
2,180
2,295
2,285
2,329
2,351
46
49
46
49
53
57
5,115
5,200
6,603
6,463
6,559
5,427
1,720
2,079
3,075
2,356
2,094
2,507
33.6
44.0
46.6
36.4
31.9
46.2
130
Table 15