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CAFR FY1995KODIAK ISLAND BOROUGH KODIAK, ALASKA 1995 COMPREHENSIVE ANNUAL FINANCIAL '•' JULY 1, 1994 -JUNE 30, 1995 'I KODIAK ISLAND BOROUGH Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 1995 1 Kodiak, Alaska ' Jerome Selby, Borough Mayor Prepared by Finance Department: Karleton Short, Finance Director Cheryl Bolger, Accountant 1 KODIAK ISLAND BOROUGH ' Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 1995 EXHIBIT ' TABLE OF CONTENTS INTRODUCTORY SECTION INDEPENDENT AUDITORS' REPORT .......................................................................... ............................... 1 EXHIBIT PAGE GENERAL PURPOSE FINANCIAL STATEMENTS ELECTED OFFICIALS (PHOTOGRAPHS) ........................................................................ ............................... v BOROUGH OFFICIALS ........................................................................ ............................... ............................ vii ' BOARDS AND COMMITTEES ............................................................ ............................... ........................... viii Presented Component Units .......................................................................... ..............................1 MAP OF KODIAK ISLAND BOROUGH ............................................................................ ............................... x ' GFOA CERTIFICATE OF ACHIEVEMENT ..................................................................... ............................... xi ORGANIZATIONAL CHART ........................................................................................... ............................... xii Combined Statement of Revenues, Expenditures, Transfers and LETTER OF TRANSMITTAL ......................................................................................... ............................... xiii FINANCIAL SECTION ' EXHIBIT PAGE INDEPENDENT AUDITORS' REPORT .......................................................................... ............................... 1 GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types, Account Groups and Discretely Presented Component Units .......................................................................... ..............................1 2 ' Combined Statement of Revenues, Expenditures, Transfers and Changes in Fund Balance - All Governmental Fund Types and Discretely Presented Component Unit ........................................................... ..............................2 Combined Statement of Revenues, Expenditures, Transfers and 6 Changes in Fund Balance - Budget and Actual - General Fund, ' Special Revenue Fund and Debt Service Fund ............................................... ..............................3 Combined Statement of Revenues, Expenses, Transfers and Changes in 8 Retained Earnings - Proprietary Fund Types and Discretely Presented Component Unit ..............4 11 Combined Statement of Cash Flows - Proprietary Fund Types and Discretely Presented Component Unit .............. ..............................5 12 ' Notes to the Financial Statements ................................................................... ............................... 13 ' ADDITIONAL INFORMATION COMBINING, INDIVIDUAL FUND AND ACCOUNT GROUP FINANCIAL STATEMENTS AND SCHEDULES ' GENERAL FUND: BalanceSheet ............................................................................................... ............................A -1 33 Statement of Revenues, Expenditures, Transfers and Changes in Fund Balance - Budget and Actual ........................................................ ............................A -2 34 Schedule of Expenditures and Transfers - Budget and Actual ......................... ............................A -3 36 KODIAK ISLAND BOROUGH Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 1995 TABLE OF CONTENTS (continued) EXHIBIT PAGE SPECIAL REVENUE FUNDS: CombiningBalance Sheet .......................................................................... ............................... B -1 42 Combining Statement of Revenues, Expenditures, Transfers and Changes in Fund Bal ance ..................................................................... ............................B -2 44 Statement of Revenues, Expenditures, Transfers and Changes in Fund Balance - Budget and Actual: Fire and Road Service Districts: Fire: Fire Protection Area No. 1 ........................................................... ............................... B -3 46 Womens Bay Fire Department ..................................................... ............................... B-4 47 Road: Monashka Bay Road Service Area ................................................... ............................B -5 48 ServiceDistrict No. 1 ...................................................................... ............................B -6 49 Womens Bay Service Area .............................................................. ............................B -7 50 Bay View Road Service Area ....................................................... ............................... B -8 51 MentalHealth Center ............................................................................. ............................B -9 52 ServiceArea No. 2 ............................................................................ ............................... B -10 53 CoastalManagement ............................................................................ ...........................B -11 54 Child Care Assistance Program ............................................................. ...........................B -12 55 LandSales ........................................................................................ ............................... B -13 56 Buildingsand Grounds ......................................................................... ...........................B -14 57 Woodland Acres Street Light Service Area ....................................... ............................... B -15 58 Community and Regional Affairs .......................................................... ...........................B -16 59 OilSpill Cleanup .............................................................................. ............................... B -17 60 DEBT SERVICE FUNDS: CombiningBalance Sheet ............................................................................. ............................0 -1 61 Combining Statement of Revenues, Expenditures Transfers, and Changes in Fund Balance ................................................. ............................... C -2 62 Statement of Revenues, Expenditures, Transfers and Changes in Fund Balance - Budget and Actual: Bonds.................................................................................................... ............................... C -3 63 Other..................................................................................................... ............................... C-4 64 CAPITAL PROJECTS FUNDS: CombiningBalance Sheet ............................................................................. ............................D -1 66 Combining Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances .................................................... ............................D -2 68 Schedule of Capital Projects .......................................................................... ............................D -3 70 ii 1 n n 1 KODIAK ISLAND BOROUGH Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 1995 TABLE OF CONTENTS (continued) EXHIBIT PAGE PROPRIETARY FUNDS - ENTERPRISE FUNDS: CombiningBalance Sheet ........................................................................... ............................... E -1 Combining Statement of Revenues, Expenses, Transfers and Changes in Retained Earnings ............................................................ ............................... E -2 Combining Statement of Cash Flows .................................... ............................... ....................... E -3 Municipal Solid Waste Collection and Disposal Funds: ' Balance Sheet .................................................................................... ............................... E-4 Statement of Revenues, Expenses, Transfers and Changes in Retained Earnings - Budget and Actual ................................................. ............................... E -5 Statementof Cash Flows ............................................................................. ............................... E-6 I 7 t Water Fund: BalanceSheet ............................................................................................. ............................... E -7 Statement of Revenues, Expenses, Transfers and Changes in Retained Earnings - Budget and Actual ................................................. ............................... E -8 Statement of Cash Flows ...................................................... ............................... ....................... E -9 Sewer Fund: BalanceSheet ........................................................................................... ............................... E -10 Statement of Revenues, Expenses, Transfers and Changes in Retained Earnings - Budget and Actual ............................................... ............................... E -11 Statement of Cash Flows ......................... E -12 PROPRIETARY FUNDS - INTERNAL SERVICE FUND: BalanceSheet ............................................................................................. ............................... F -1 Statement of Revenues, Expenses, Transfers and Changes in in Retained Earnings - Budget and Actual ................................................. ............................... F -2 Statementof Cash Flows ............................................................................. ............................... F -3 AGENCY FUNDS: Combining Statement of Changes in Assets and Liabilities ........................... ............................G -1 GENERAL FIXED ASSETS ACCOUNT GROUP: Schedule of Fixed Assets by Source ............................................................... ............................H -1 Schedule of General Fixed Assets by Function and Activity .......................... ............................H -2 Schedule of Changes in General Fixed Assets by Functionand Activity .................................................................................. ............................H -3 74 76 77 78 79 80 81 82 83 84 85 86 87 88 89 91 94 95 97 I iii 1 KODIAK ISLAND BOROUGH Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 1995 TABLE OF CONTENTS (continued) EXHIBIT PAGE GENERAL LONG -TERM DEBT ACCOUNT GROUP: Schedule of Long -Term Debt ......................................................................... ............................1 -1 99 ADDITIONAL INFORMATION - BONDED INDEBTEDNESS: Summary of Bonded Debt Service Requirements to Maturity ....................... ............................... J -1 101 General Obligation School Refunding Bonds, Series 1989 .......................... ............................... J -2 102 General Obligation School Improvement Bonds, 1991 Series A .................. ............................... J -3 103 General Obligation Bonds, 1993 Series A ................................................... ............................... J-4 104 General Obligation Bonds, 1994 Series A ................................................... ............................... J -5 105 Asbestos Removal Loan Payable ................................................................. ............................... J-6 106 STATISTICAL SECTION iv L' 1 it TABLE PAGE STATISTICAL TABLES: General Governmental Expenditures and Other Uses by Function - Last Ten Fiscal Years .............................................................. ..............................1 107 General Revenues by Source - Last Ten Fiscal Years ....................................... ..............................2 108 Property Tax Levies and Collections - LastTen Fiscal Years .................................................................................... ..............................3 109 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years ................................................................... ..............................4 110 Property Tax Rates - All Overlapping Governments - LastTen Fiscal Years ................................................................................... ..............................5 111 Ten Largest Property Taxpayers ..................................................................... ..............................6 112 Ratio of Net General Bonded Debt - Last Ten Fiscal Years ............................. ..............................7 113 Computation of Direct and Overlapping Debt ................................................. ..............................8 114 Computation of Legal Debt Margin ................................................................. ..............................9 115 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures and Transfers - LastTen Fiscal Years ................................................................................... .............................10 116 Demographic Statistics - Last Ten Fiscal Years ............................................ ............................... 11 117 Salaries and Surety Bonds of Principal Officials ............................................. .............................12 118 Property Value, Construction and Bank Deposits - LastTen Fiscal Years ................................................................................... .............................13 119 Miscellaneous Statistical Data - LastTen Fiscal Years ................................................................................... .............................14 120 iv L' 1 it INTRODUCTORY SECTION Annual Report • Kodiak Island Borough, Alaska - ASSEMBLY MEMBERS- GARY STEVENS At Large, 1997 To the Honorable Mayor and Members of the Kodiak Island Borough Assemby: In accordance with the provisions of the Kodiak Island Borough Code, there is presented herewith the Comprehensive Annual Financial Report for the year ended June 30, 1995, and the related statements and statistical tables. gob Respectfully submitted, Karleton G. Short, Finance Director MICHAEL R. MILLIGAN At Large, 1997 Deputy Presiding Officer JEROME M. SELBY Mayor of Kodiak Island Borough, 1995 ROBIN HEINRICHS At Large, 1995 SUZANNE J. HANCOCK At Large, 1996 MARY A. MONROE At Large, 1995 Presiding Officer of Assembly JOHN BURT At Large, 1996 JACK L. McFARLAND At Large, 1996 1 L 1 1 �1 fI L �I e KODIAK ISLAND BOROUGH BOROUGH OFFICIALS YEAR ENDED JUNE 30, 1995 BOROUGH ASSEMBLY John Burt `96 Michael R. Milligan '97 (Deputy Presiding Officer) Gary Stevens '97 Mary A. Monroe'95 (Presiding Officer) Suzanne J. Hancock '96 Robin Heinricks `95 Jack L. McFarland'96 BOROUGH MAYOR Jerome M. Selby '95 Karleton G. Short ............................................................ ............................... .........................Finance Director/Treasurer Steve Hobgood ............................................................................. ............................... Facilities /Engineering Coordinator DonnaSmith ....................................................................................... ............................... ........................Borough Clerk LindaL. Freed ....................................................................................................... ............................... Planning Director PatrickS. Carlson ......................................................................................... ............................... ....................... Assessor PerryL. Page ............................................................................................. ............................... Data Processing Manager MartinWhite ........................................................................ ............................... .........................Mental Health Director EarlA. Smith .......................................................................................... ............................... ........................... Fire Chief Charles E. "Bud" Cassidy ............................................. ............................... .......................Resource Management Officer Jamin, Ebell, Bolger, Gentry ..................................................... ............................... (Contracted Firm) Borough Attorney EdwinMyers .................................................................................................. ............................... Hospital Administrator Bruce F. Johnson .............................................................................. ............................... Superintendent, School District CherylBolger .................................................................................................... ............................... General Accountant KelliVeech .................................................................................................. ............................... ......Revenue Accountant BarbaraTempleton .......................................................................... ............................... ...................... Purchasing Agent Vii viii I ' KODIAK ISLAND BOROUGH KODIAK, ALASKA BOARDS AND COMMITTEES YEAR ENDED JUNE 30, 1995 School Board (7) Woodland Acres Street Lighting ' * Alice Knowles Service District Advisory Board (3) Will Walton Pat Tabon Bob Hatcher Barbara Heinrichs ' Norm Wooten * Sharon Nault Kyle Shaffer, CG Rep. Jeff Stephan C_ itizen Board of Equalization (5) Lane Schmelzenbach, Stud. Rep. * Jim Carmichael Tim Hurley H_ ospital Advisory Board (9) Craig Fanning Ben Ardinger Will Walton Loren Halter William Roberts Gil Bane Alan Austerman, Assembly Rep. Woody Koning, Alternate Donna Smith, KIB staff Dr. Lane Reinhart_ Linden, Chief of Staff Gretchen Saupe Parks and Recreation Committee (12) * Betty Springhill Forrest Blau ' Wayne Stevens Barbara Heinrichs John Shauk Claire Holland, State Rep., ex -officio Ed Myers, KIH Staff, ex -officio Ian Fulp, City Rep., ex- officio Kyle Shaffer, School Bd. Rep., ex -officio Mental Health Center Advisory Suzanne Hancock, Assembly Rep. Board 9 * David Odell Virginia Sargent Gloria Wiechmann Rosario Bermisa Melissa Robinson Katherine Gravino Jane Spicciani Judy Carstens Linda Freed, KIB staff Laurel Vorachek 2 vacancies , Mike Milligan, Assembly Rep. Josepruna Rosales Building Code Board of Appeals/ Karen Perkins, KAMI rep, ex -officio (Architectural Review Board) (9) ' * Ron Woitel Gerald Cloudy Letitia Raub John Burt, Assembly Rep. Guy Snyder, CG rep, ex -officio * Woody Koning ' Martin White, MHC Director, ex -officio Ed Mahoney Jan Pennington, KIB staff Tom Templeton Eric Ness Planning and Zoning Commission (7) Kyle Shaffer, School Board Rep. ' Bruce Barrett Scott Bonney Shawn "Tuck" Bonney Betty Walters, KIBSD * Jerrol Friend Steve Hobgood, KIB staff ' Patricia Szabo Jeff Knauf Personnel Advisory Board (5) Renato Asuncion Craig N. Fanning ' 1 vacancy Katharine Gravino * Dorothy Weeks Christine Jamin Clay Koplin Rachael Miller, KIB staff viii I I KODIAK ISLAND BOROUGH KODIAK, ALASKA BOARDS AND COMMITTEES YEAR ENDED JUNE 30, 1995 Ll Services District No. 1 Advisory Board (7) * Scott Arndt Tom Abell Charles Lorenson John Parker Stan Thompson Services District No. 1 Advisory Board (7) (continued) Earl Smith, Jr. Tom Streifel Women's Bay Service District Advisory Board (7) Jean Barber John Burt * David Conrad George Lee Edward Gondek Laurie Madsen Robert Tarrant Kodiak Island Transaortation Study Steering Committee (KITS) John Sullivan Matt Holmstrom Gary Bloomquist Dave Crowe Carolyn Floyd Jerome Selby Jack McFarland, Assembly Rep Airoort Advisory Committee (11 Jacque Bunting Dan Dorman Tom Watson Michael Machulsky Lee Robins * Wayne Stevens John Miller, ex officio John Chya, ex -officio John Miller, CG ex -officio Scott Schleiffer Rachael Miller, KIB staff Service Area No. 2 Commission (5) * Alice Mac Donough John Parker Richard Holzshu Jon Hartt Reed Oswalt * Indicates chair I ix Data Processing Steering Committee (9) Ed Myers Bill Oliver Jack McFarland Perry Page ' * Jerome Selby Karleton Short Jocelyn Zwiefelhofer Martin White One vacancy Ll Services District No. 1 Advisory Board (7) * Scott Arndt Tom Abell Charles Lorenson John Parker Stan Thompson Services District No. 1 Advisory Board (7) (continued) Earl Smith, Jr. Tom Streifel Women's Bay Service District Advisory Board (7) Jean Barber John Burt * David Conrad George Lee Edward Gondek Laurie Madsen Robert Tarrant Kodiak Island Transaortation Study Steering Committee (KITS) John Sullivan Matt Holmstrom Gary Bloomquist Dave Crowe Carolyn Floyd Jerome Selby Jack McFarland, Assembly Rep Airoort Advisory Committee (11 Jacque Bunting Dan Dorman Tom Watson Michael Machulsky Lee Robins * Wayne Stevens John Miller, ex officio John Chya, ex -officio John Miller, CG ex -officio Scott Schleiffer Rachael Miller, KIB staff Service Area No. 2 Commission (5) * Alice Mac Donough John Parker Richard Holzshu Jon Hartt Reed Oswalt * Indicates chair I ix Fire Protection Area #1 Advisory Board (5) * Scott Arndt Greg Spalinger Charles Lorenson John Shank Bill Swearingin ' Bay View Road Service District Advisory Board (5) Dawn Black Colleen Helligoso Jim Schauff Ken Minks * Reed Oswalt Monashka Bay Road Service District Advisory Board (5) * Roger Blacket Mark Withrow Jeff Hamer Gregg Razo Mitch Hull Emergency Services Council (5) Tom Barrett, Capt. USCG * Gary Bloomquist Carolyn Floyd Jerome Selby Jack McFarland Ll Services District No. 1 Advisory Board (7) * Scott Arndt Tom Abell Charles Lorenson John Parker Stan Thompson Services District No. 1 Advisory Board (7) (continued) Earl Smith, Jr. Tom Streifel Women's Bay Service District Advisory Board (7) Jean Barber John Burt * David Conrad George Lee Edward Gondek Laurie Madsen Robert Tarrant Kodiak Island Transaortation Study Steering Committee (KITS) John Sullivan Matt Holmstrom Gary Bloomquist Dave Crowe Carolyn Floyd Jerome Selby Jack McFarland, Assembly Rep Airoort Advisory Committee (11 Jacque Bunting Dan Dorman Tom Watson Michael Machulsky Lee Robins * Wayne Stevens John Miller, ex officio John Chya, ex -officio John Miller, CG ex -officio Scott Schleiffer Rachael Miller, KIB staff Service Area No. 2 Commission (5) * Alice Mac Donough John Parker Richard Holzshu Jon Hartt Reed Oswalt * Indicates chair I ix ARCTIC OCEAN N P 9ARROw PRU ©NQ£ a4Y x 1 oowc �V9 OLD d' a KODIAK a' ISLAND BOROUGH a NOME �� NQRTQN SOUR V RRiSTQL a4 WE y- ARcRc CIRC4S -- " CANADA F,QR ANKS ALASKA GULF o f AL"M NORTH PACIFIC OCEAN wm' m m� m m m m m m m m m m LJ F1 f 1 President Y �� G rIXW4 Executive Director X1 Certificate of 1 Achievement � for Excellence � in Financial Reporting ' Presented to F1 f 1 President Y �� G rIXW4 Executive Director X1 Kodiak Island Borough, Alaska For its Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 1994 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. F1 f 1 President Y �� G rIXW4 Executive Director X1 (Appointed by Mayor) Kodiak Island Borough {organization Chart Electorate Borough Assembly (Elected) Hospital Advisory Service District Citizens Advisory Mayor Service District School Board Board (Appointed Advisory Boards Boards/Commission (Elected) Advisory Boards (Elected) by Assembly) (Appointed) (Appointed by (Elected) Woodland Acres Assembly) * Monashka Bay Street Lighting * Personnel Board Road Service Superintendent of Hospital * Architectural Review Area * Womens Bay Schools Administrator * Parks and Road Service/ Borough Attorney Recreation Fire Area * Board of * Service District School Staff ['Ho'spital Staff Equalization No. I Borough Clerk * Mental Health Center * Road, Water, Sewer, Fire * Economic District No. I Development * Bay View Road * QCS Advisory Service Area Council * Service Area * Building Code No. 2 Board of Appeals * KITS Committee Airport Advisory Committee Planning & General Community Engineering Finance Data Services Assessing Mental Health Zoning Administration Development /Facilities Department Department Department Center Commission Department Dep artment (Appointed by Mayor) 17 L I pi 1 'I 1 r 1 September 22, 1995 To the Honorable Mayor and Members of the Assembly Kodiak Island Borough Kodiak, Alaska Kodiak IslandBorough The comprehensive annual financial report (CAFR) of the Kodiak Island Borough (Borough), Kodiak, Alaska for the fiscal year ended June 30, 1995 is submitted herewith. This report was prepared by the Borough Finance Department. Responsibility for the accuracy, completeness and fairness of presentation, including all disclosures, rests with the Borough. We believe the data, as presented, is accurate in all material respects, 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 all disclosures necessary to enable the reader to gain maximum understanding of the Borough's financial affairs have been included. 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 used by the Borough, and some financial presentations. The financial section includes the report of the independent accountants, combined financial statements, notes to financial statements, and more detailed combining and individual financial statements and schedules. The statistical section includes selected financial and general information generally presented on a ten year comparative basis. GENERAL INFORMATION The Kodiak Island Borough lies at the western border of the Gulf of Alaska, about 40 miles south of the Kenai Peninsula. About two- thirds of the Borough lies 710 MILL BAY ROAD KODIAK, ALASKA 99615 -6340 PHONE (907) 486 -5736 in the Kodiak archipelago. One -third of the Borough is on the Alaska Peninsula across the Shelikof Strait from Kodiak Island. The Shelikof Strait is only 20 miles wide in places. The Borough encompasses 7,130 square miles, making it slightly smaller than the State of Massachusetts. The Borough was incorporated September 30, 1963 as a Second Class Borough by Chapter 146 Sessions, Laws of Alaska 1961, as amended. The Borough is governed by a strong Mayor /Assembly form of government. The Borough Assembly is composed of seven members who are elected at- large. The criteria used in determining the reporting entity are consistent with the Codification of Governmental Accounting and Financial Reporting Standards Section 2100, "Defining the 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. ECONOMIC CONDITION AND OUTLOOK The economic condition of the Kodiak Island Borough remains healthy. The main industries of the Borough are commercial fishing, logging, and tourism. While some segments of the commercial fishing industry have declined, others have grown. Logging has increased dramatically due to cutbacks in logging in the Pacific Northwest. Their decreased production has increased the demand (and price) for our timber. Tourism continues to grow in Kodiak with an increased number of visitors each year. To accommodate this demand, xui construction of fishing lodges and recreational facilities has increased. xiv remodel is currently budgeted at $10,621,000. These should be the total costs for North Star Elementary and Ouzinkie School remodel, but the total cost of the hospital remodel will probably be close to $19,000,000. The fourth project, the Kodiak High School Remodel, Phase IV, is $2,093,368 funded by transfers from other funds and other projects, and a state capital grant. Other capital projects either started or expanded in fiscal year 1995 total $1,391,000. Commercial fishing is by far the largest industry in the Kodiak Island Borough. For all of the fisheries combined, the total catch in calendar year 1994 was $118,841,000, compared to $93,012,367 in 1993. In recent years, salmon has accounted for approximately one -third of the total value of the fisheries industry in Kodiak. The 1995 salmon catch in Kodiak was up considerably from last year, with an ex- vessel value of approximately $48.7 million. Last year's (1994) ex- vessel value was $25.5 million. This is a 91% increase. Herring also increased in 1995 with a catch of $5.8 million compared to $4.7 million in 1994. The shellfish (crab) industry continues to decline with a catch of $9.5 million in 1994 compared to $11.5 million in 1993, $27.6 million in 1981, and $47.5 million in 1980. The assessed value of real and personal property of the Kodiak Island Borough rose from $404,013,000 in 1985 to $640,462,576 in 1995, an increase of 59 %. The unemployment rate for 1995 was 11.2 %, compared to 9.4% in 1994 and 6% in 1993. Seasonal cannery worker hiring traditionally begins around July. The local unemployment rate has fluctuated from 5 to 12 % over the last ten years. Based on current Chamber of Commerce projections, the Kodiak Island Borough will continue to grow through the end of the century. This growth will positively impact the Kodiak Island Borough, but it must be realized that the Borough will also have to grow to provide the same level of services to its residents. MAJOR INITIATIVES In preparing the fiscal year 1995 budget, the Kodiak Island Borough identified several major projects to be addressed during the year. All major projects are listed in Exhibit D -3 of the annual report. There were four major projects ongoing in 1995. Three of these projects (North Star Elementary School construction, Ouzinkie School remodel, and Kodiak Island Hospital remodel) were funded either fully or partially by a $19,200,000 bond issue sold in fiscal year 1994. North Star Elementary School is an $8,500,000 project, Ouzinkie School remodel is a $1,356,000 project, and the Kodiak Island Hospital DEPARTMENT OR ACTIVITY SERVICE EFFORTS AND ACCOMPLISHMENTS The Borough provides a variety of services including education, health, garbage collection and disposal, planning and zoning, public improvements, and general administration. The Borough provides for education through the Kodiak Island Borough School District and has contracted with Lutheran Health Systems Management Company to operate the Kodiak Island Hospital and Care Center. The Borough is responsible for operating the sanitary landfill and provides water and sewer services to Service District #1, north of the Kodiak city limits. The Borough has oversight responsibility for four road service districts, two fire protection districts, and one street light service district. Each year the Borough selects a department to highlight for its efforts and accomplishments. For fiscal year 1995, the Community Development Department has been selected. The Kodiak Island Borough Community Development Department is responsible for a wide range of Borough functions. The primary responsibility of the Community Development Department is to provide land use planning, platting and regulation. This is a mandatory municipal function of the Kodiak Island Borough. In order to fulfill this function, the department provides staff support to the Kodiak Island Borough Planning and Zoning Commission, a seven member board of appointed community residents. The department works with the commission to fulfill their mandate by providing technical review and recommendations about plats of land and zoning decisions (e.g. variances, conditional use permits) and development of long range policy and land use plans. The department staff is responsible for the day - today administration of Title 17 (Zoning) of the Kodiak Island Borough Code. This entails the review of development projects throughout the Borough to ensure I J 1 fl t � 1 1 !i 1 that such projects are consistent with the Borough's regulations, often through the issuance of zoning compliance permits. This aspect of code administration is complemented by code enforcement, which is a community- complaint based system. The department also has responsibility for a wide range of document and project reviews. This includes the review of federal and state planning documents and related regulations to assess their impact on the Kodiak Island Borough and to recommend a response to the proposed state or federal action. These projects/plans/regulations range from review of oil spill contingency and prevention plans for the Prince William Sound crude oil tanker fleet to review of U.S. Coast Guard housing projects, to review of the State Department of Transportation - Transportation Needs and Priorities Program. The department also maintains the Kodiak Island Borough Coastal Management Program, including grant administration and project review coordination. The department actively works with other Borough departments to ensure that residents of the Borough receive the best service possible. The department participates in grant writing and administration, as well as administration of several functions contracted by the Borough including: the junk removal program, the building inspection program; and the animal control program. Department staff are responsible for the Borough's computer mapping system and services providing assistance to both Borough departments and the public. The department provides service to the community in other ways as well. The staff supports the activities of the Kodiak Island Borough Parks and Recreation Committee, the Outer Continental Shelf Advisory Committee, and other ad hoc committees established by the Borough. The department is responsible for maintaining a resource library for use by the Borough staff and the public, as well as the completion of many special Borough projects such as the annual population update and liaison with community neighborhood associations. The Community Development Department provides up -to -date and accurate information to the Borough Assembly and Mayor to assist them in making decisions about development opportunities. This enables them to make decisions that preserve the quality of life in the Kodiak Island Borough. The Community Development Department also provides technical advice to Borough committees which enables them to make better decisions, also enhancing the quality of life in Kodiak. FINANCIAL INFORMATION DISCUSSION OF CONTROLS Management is extremely aware of the importance of internal controls. Although present controls are considered to be highly satisfactory and adequate, they continue to be scrutinized periodically for enhancements. Internal Control Structure The Borough's accounting system depends upon a strong system of internal control. The Borough is concerned with all aspects of internal control for reliable and accurate financial information, as well as safeguarding assets. Duties are segregated as much as possible in a small office, which limits individual control over any one area. Internal control policies are reviewed at least annually and documented to reflect any procedural changes that are deemed necessary. Cross - training and segregation of duties are considered valuable in the internal control structure. Budgetary Controls The Borough uses the modified accrual basis for governmental funds and the accrual basis for enterprise and internal service funds. Under the modified accrual basis of accounting, revenues are recognized when measurable and available and expenditures are recognized when incurred. Budgetary control is maintained by an annual appropriation system supplemented with an 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 overspent. All new monies are appropriated by a public hearing and the adoption of a budget ordinance. Appropriation transfers are made between funds and/or departments only after the adoption of an ordinance by the Assembly. Staff may initiate transfers between line items within a fund. GENERAL GOVERNMENT FUNCTIONS The following chart summarizes General Fund revenues for the fiscal year ended June 30, 1995. This chart includes General Fund revenue only. The following chart illustrates General Fund ' expenditures for the year ended June 30, 1995 by function: The following schedule summarizes changes from the prior year for General Fund revenues: Increase (Decrease) Revenue Sources Over 1994 Property taxes $ 995,360 Intergovernmental (430,056) Investments and property 368,747 Severance taxes 290,836 Licenses, permits, fees and other 470,185 Conservation and development $ 1,695,072 Property tax is the largest source of revenue for the General Fund of the Kodiak Island Borough. The increase in property tax revenue is due primarily to increased property value in the Borough of $25,891,781. two million dollars. To this end, the Kodiak Island The decrease in intergovernmental revenue is due in part to a decrease in Fish Tax of $247,095. State - shared revenue and municipal assistance declined $183,853 from last year. Severance tax related to commercial fishing increased $197,747 from last year, and severance tax on timber also increased by $88,610. General Fund Expenditures General goverrIm 52,067,30 65.1% Health and Sanutation $408,433 12.9% 1 i J Changes in levels of expenditures for major General Fund functions of the Borough over the preceding year are shown in the following tabulation: Increase ' (Decrease) Expenditures Over 1994 General government $ (43,908) Public safety (34,729) Health and Welfare 23,003 Education (23,068) Culture and recreation 20,500 Conservation and development 5,474 Public works (115,043) $ (167,771) It is the goal of the Kodiak Island Borough to maintain a fund balance in the General Fund of at least two million dollars. To this end, the Kodiak Island Borough added $1,047,217 to the fund balance of the General Fund, resulting in a year end balance of $3,422,870. xv> Public Sak y Education Where and $57,315 $92,627 recreation 1.8% 2.9% $153,500 Conservation nd development $396,356 12.5% I 1 The following table reflects the fund balance of the General Fund at the close of business for the past ten fiscal years: General Fund Balance I ast tPn ficr-al vaars $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 S1 00 co co 00 rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn PROPRIETARY OPERATIONS The Kodiak Island Hospital and Care Center contracts management services with the Lutheran Health Systems Management Company. The Borough is ultimately liable for any financial loss. The Hospital showed an operating loss in fiscal year 1995 of $111,142 but had non -operating gains of $192,321. This means that the Hospital increased their retained earnings by $81,179 by the end of the year. Non - operating gains are State Revenue Sharing of $89,040, transfers from the Borough of $50,000, interest income of $46,441, and donor - restricted gifts of $6,840. Last year (fiscal year 1994) the Hospital had an operating loss of $138,189 with non - operating gains of $144,010 that resulted in an increase in retained earnings by $5,821. The Borough does not have a water plant or sewer treatment facility. Water is purchased from the City of Kodiak and sold to Borough users. These customers are in a service district contiguous to the City. In fiscal year 1995, the Borough's utility funds (water, sewer, and sanitary services) had operating losses of $131,103. In the last five years, these operating losses totaled $1,522,716. These losses are directly related to depreciation and construction of new facilities. In fiscal year 1995, depreciation expense was $414,468. Excluding depreciation, the utility funds showed an operating profit of $283,365. In fiscal year 1995, depreciation for each water account was $37.14 and $38.00 for each sewer account. Eventually, if the Borough wants to rebuild the water and sewer lines from a funded depreciation account, water and sewer rates will have to be raised approximately $75.00 per month. At this time, it is not politically feasible to raise water and sewer rates by such an amount. At the end of fiscal year 1995, a typical homeowner paid $106.45 for water, sewer, and garbage. Originally, the Borough built all of the water and sewer lines with grants from the State of Alaska. xvii Operating Income (Loss) Water Sewer Sanitary Services Total 1991 <183,366> <177,001> <54,968> <415,335> 1992 <35,137> <138,007> <256,276> <429,420> 1993 <52,662> <136,839> 5,646 <183,855> 1994 <121,944> <202,760> <38,299> <363,003> 1995 <26,388> <154,721> 50,006 <131,103> $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 S1 00 co co 00 rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn PROPRIETARY OPERATIONS The Kodiak Island Hospital and Care Center contracts management services with the Lutheran Health Systems Management Company. The Borough is ultimately liable for any financial loss. The Hospital showed an operating loss in fiscal year 1995 of $111,142 but had non -operating gains of $192,321. This means that the Hospital increased their retained earnings by $81,179 by the end of the year. Non - operating gains are State Revenue Sharing of $89,040, transfers from the Borough of $50,000, interest income of $46,441, and donor - restricted gifts of $6,840. Last year (fiscal year 1994) the Hospital had an operating loss of $138,189 with non - operating gains of $144,010 that resulted in an increase in retained earnings by $5,821. The Borough does not have a water plant or sewer treatment facility. Water is purchased from the City of Kodiak and sold to Borough users. These customers are in a service district contiguous to the City. In fiscal year 1995, the Borough's utility funds (water, sewer, and sanitary services) had operating losses of $131,103. In the last five years, these operating losses totaled $1,522,716. These losses are directly related to depreciation and construction of new facilities. In fiscal year 1995, depreciation expense was $414,468. Excluding depreciation, the utility funds showed an operating profit of $283,365. In fiscal year 1995, depreciation for each water account was $37.14 and $38.00 for each sewer account. Eventually, if the Borough wants to rebuild the water and sewer lines from a funded depreciation account, water and sewer rates will have to be raised approximately $75.00 per month. At this time, it is not politically feasible to raise water and sewer rates by such an amount. At the end of fiscal year 1995, a typical homeowner paid $106.45 for water, sewer, and garbage. Originally, the Borough built all of the water and sewer lines with grants from the State of Alaska. xvii FIDUCIARY OPERATIONS Kodiak Island Borough handles all fiduciary activity with the same care and due diligence that we exercise with any of our funds. All amounts due are withheld, collected, accounted for, and remitted promptly. Periodically the State of Alaska informs each participating entity of the Public Employees Retirement System (PERS) as to the employee and employer contribution rates. Amounts are budgeted, withheld, and remitted accordingly. Also, periodically the actuarial assumptions are revised by the The State of Alaska Statutes and the Kodiak Island Borough Code do not establish a legal debt margin. The voters of the Kodiak Island Borough ultimately determine the amount of debt that can be outstanding. The Borough has no revenue bonds authorized or issued. The Borough's general obligation bonds are rated as follows: State of Alaska PERS. When such occurrence creates a deficiency, that amount is paid within the period of notification or when a subsequent budget is adopted. The Borough administers all property tax collection for all governmental entities within the Kodiak Island Borough. For service districts within the Borough, the revenue is recognized in the district's particular fund. Property taxes collected for the City of Kodiak are normally remitted in full by November each year. All other fiduciary collection activity (i.e., federal withholding, FICA, insuran pension fund, etc.) is accounted for and promptly remitted to the agency involved. DEBT ADMINISTRATION Summary of debt principal outstanding at fiscal year end was: General Obligation, 1994 Moo 's Standard 8,760,000 Investors and refunding, 1991 Service Poors General obligation, 1994 Aaa AAA General obligation, 1993 Aaa AAA General obligation, school refunding, 1991 Aaa AAA General obligation, school refunding, 1989 Aaa AAA State of Alaska PERS. When such occurrence creates a deficiency, that amount is paid within the period of notification or when a subsequent budget is adopted. The Borough administers all property tax collection for all governmental entities within the Kodiak Island Borough. For service districts within the Borough, the revenue is recognized in the district's particular fund. Property taxes collected for the City of Kodiak are normally remitted in full by November each year. All other fiduciary collection activity (i.e., federal withholding, FICA, insuran pension fund, etc.) is accounted for and promptly remitted to the agency involved. DEBT ADMINISTRATION Summary of debt principal outstanding at fiscal year end was: General Obligation, 1994 $ 9,985,000 General Obligation, 1993 8,760,000 General obligation, school refunding, 1991 1,000,000 General obligation, school refunding, 1989 5,920,000 Environmental Protection Agency loan 197,915 $ 25.862.915 As of June 30, 1995, net per capita bonded debt is $1,515. For comparison purposes, following is the net per capital bonded debt for the past ten years: General Bonded Debt Per Capita Last ten fiscal years $1,800 d $1,600 s 51,400 51,200 0 51,000 $900 $600 5400 Z $200 $- S1 Fiscal Year CASH MANAGEMENT Effective cash management is essential to the long- term stability and profitability of any organization. Day - today cash management is considered a priority within the Borough, and we utilize proper monitoring procedures for timely receipt and deposit of all funds. t J 1 fl F] f] xviii I J 1 1 s F11 1 �i INVESTMENT POLICIES The Borough Treasurer is the central treasurer for all Borough funds. This includes the Borough, School District, Hospital and Mental Health Center. The Borough uses a cash pool concept in which all funds are self - balancing. Each fund is a unique entity and has its own cash account which, on occasion, may 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." All funds are deposited daily and all idle funds are invested on the following day. The Borough recognizes that there is frequently some exposure to uninsured and un- collateralized deposits. Great strides have been made in minimizing this exposure through increased collateral and selection of banks and brokers with additional insurance. A local servicing bank sweeps the total balances to another account on a daily basis. This account is collateralized by U.S. Treasuries at 102% of carrying value. A third party bank holds the collateral. All new investments are purchased on a delivery versus payment system. This means that when the Borough purchases a new instrument, such as a treasury bill or an agency note, our servicing bank pays for the instrument when it is delivered to them. The servicing bank holds all investments in the Borough's name. Management feels that this is the safest way of holding our investments. The Borough investment policy is far more restrictive than that of many governments. The operational parameters are 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 and/or insured. Further, the collateral is to be held by a third party bank. During the past year, the investments of the Borough have fluctuated between $29 and $35 million. Interest rates for our fiscal year started off at 3.4% to 6.1% in early July 1994. At year -end, investments were earning from 3.9% to 8.0% for an average yield of 6.64 %. We closed out the year with investment earnings for all funds in the amount of $1,758,949. RISK MANAGEMENT "Risk management" is a term used to describe those activities practiced by managers to minimize or control exposure to potential losses. Mention the word "risk management" and most people think of insurance, which is the traditional method used to manage risks. Insurance provides financial protection against accidental loss, but cannot prevent losses. However, by managing exposure, we can prevent unexpected losses. The Kodiak Island Borough has increased risk management activities as a result of several factors, one being the increased state and federal regulations related to this issue. We have a Safety Committee that meets monthly and discusses the accident prevention program and develops loss prevention policies in an effort to manage risk exposure. Several areas of concern are now addressed including: hazardous material management, bloodborne pathogens, sexual harassment awareness, accident prevention, and evaluation of work environments to prevent cumulative trauma, and other ergonomics. The Borough presents training to employees to address these and other issues as part of the accident prevention program, an integral component of an effective risk management program. OTHER INFORMATION 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. We have complied with this requirement and the auditor's opinion has been included in this report. The State of Alaska requires single audits per statute and defines these requirements in 2 AAC 45.010. The Borough also complies with the "Federal Single Audit Act of 1984" and the Drug -Free Workplace Act of 1988. AWARDS GOVERNMENT FINANCE OFFICERS ASSOCIATION CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Kodiak Island Borough for its comprehensive annual financial report for the fiscal year ended June 30, 1994. The Certificate of Achievement is a prestigious national award I xix recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The Borough has received a Certificate of Achievement for the last seven consecutive years (fiscal years ended 1988- 1994). We believe our current report continues to conform to the Certificate of Achievement Program requirements, and we are submitting it to the Government Finance Officers Association. GOVERNMENT FINANCE OFFICERS ASSOCIATION DISTINGUISHED BUDGET PRESENTATION AWARD The Borough Mayor and Finance personnel have worked hard in recent years to streamline our budget. Each annual document encompasses the good features of the prior years while adding the best of current ideas. We submitted our fiscal years 1991 through 1995 budgets to the GFOA and received the Distinguished Budget Presentation Award for all five years. OTHER AWARDS Citizens of the Kodiak Island Borough are pleased to see that our Mayor, Jerome M. Selby, has been recognized nationally. He appears in the current issue of Who's Who in the West and also Who's Who in the World In November of 1994, Mayor Selby received an Outstanding Contribution Award at the Alaska Municipal League Conference in Juneau. Acknowledgments 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, D ¢ KARLETON G. SHORT DIRECTOR OF FINANCE 11 1 fl 0.11 1 a a r li FINANCIAL SECTION r� 1 1 1 1 J GENERAL PURPOSE FINANCIAL STATEMENTS The General Purpose Financial Statements include the basic financial statements and notes to the financial statements which are essential to the fair presentation of financial position and results of operations and the cash flow of proprietary funds and similar trust funds. 1 J Deloifte & Touche uP /` Suite 1500 Telephone: (907) 272 -8462 550 West 71h Avenue Facsimile: (907) 264 -3181 Anchorage, Alaska 99501 INDEPENDENT AUDITORS' REPORT The Mayor and Members of the Assembly Kodiak Island Borough Kodiak, Alaska We have audited the accompanying general purpose financial statements of the Kodiak Island Borough as of June 30, 1995 and for the vear then ended. as listed in the foregoing table of contents. These general purpose financial statements are the responsibility of the Borough's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. 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 provides a reasonable basis for our opinion. In our opinion. such general purpose financial statements present fairly, in all material respects. the financial position of the Kodiak Island Borough as of June 30, 1995, and the results of its operations and its cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. The statistical data on pages 107 through 121 are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Kodiak Island Borough. Such additional information has not been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, accordingly, we express no opinion on it. Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining, individual fund, and account group financial statements and schedules listed in the foregoing table of contents, which are also the responsibility of the management of the Borough, are presented for purposes of additional analvsis and are not a required part of the general purpose financial statements of the Borough. Such additional information has been subjected to the auditing procedures applied in our audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respects when considered in relation to the general purpose financial statements taken as whole. In accordance with Government Auditing .Standards, we have also issued a report dated September 22, 1995 on our consideration of the Kodiak Island Borough's internal control structure and a report dated September 22, 1995 on the Borough's compliance with laws and regulations. 4-L1 September 22, 1995 Deloittebuche Tohmatsu International KODIAK ISLAND BOROUGH COMBINED BALANCE SHEET - ALL FUND TYPES, ACCOLNT GROUPS AND DISCRETELY PRESENTED COMPONENT UNITS AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 The accompanying notes are an integral part of these combined financial statements. 2 Proprietary Governmental Fund Types Fund Type Special Debt Capital Internal General Revenue Service Projects Enterprise Service .ASSETS U7= ASSETS: Equity in central treasury S 15.043 S 147,501 S 242,748 S 378,191 $ 387,945 S 125,1 Temporary investments 6,292,435 585,758 2,582.930 17,789,002 - Other cash and cash equivalents - - - " Receivables: Accounts receivable, net 258,735 - - - State of Alaska 68,076 156,413 24,625 80,659 Federal eovemment - - - 382,192 - - Property taxes, net of allowance of 15,828 197,852 - - Land sales contracts, due within one year - 164.700 - - - - Other receivables, net 131,130 320,056 40,784 190,442 286,989 Due from other funds 65,000 621,000 - 675,000 140,000 Due from primary government - - - " Inventories - - " Prepaid expenditures - 817 Restricted assets: Under malpractice funding arrangement - held by trustee - - By donor for specific purpose Designated for deferred compensation plan participants - - - Equity in central treasury - - - - 198,274 - Temporary investments - - - - 525.774 - Land sales contracts receivable, due after one year - 734,992 - - - ` Amount available to service long -term debt in Debt Service fund - - Amount to be provided to service long -term debt - - - " Fused assets in service 19,117,309 719,583 Accumulated depreciation - - - - (3,696,911) (2 "5,124) Construction work -in- progress - - - - TOTAL ASSETS S 7,028,871 S 2,731,237 S 2,891,08' S 19,495,486 S 16,959,380 S 569,632 The accompanying notes are an integral part of these combined financial statements. 2 EXHIBIT 1 Fiduciary Totals Fund Type Account Groups Primary Component units Totals Agency General General Long- Government School (. Memorandum Only) Fund Type Fixed Assets Tenn Debt (Memorandum Only District Hospital 1995 1994 S $ $ $ 1,296,601 $ S 1,097,389 $ 2,393,990 $ 2,976,717 - - - 27,250,125 - - 27,250,725 33,494,974 - 241,81" 3,822 245,639 194,524 258,735 - 258,735 - - - - 329,773 661,-74 - 991,547 1,2'6,910 - - - 382,192 15,75" - 39 -,949 839,914 197,852 197,852 161,143 164,700 - - 164,700 289,000 - - - 970,001 26,279 2,175,120 3,171,400 3,220,102 1,501,000 - - 1,501,000 6,291,467 - - - - 4,016,699 - 4,016,699 - - - - - 196,114 213,258 409,372 398,637 - - - 817 - 83,594 84,411 123,054 - - - - - 5,775 5,775 173,786 - 1,811 1,811 1,109 1,222,959 1,222,959 208,138 1,431,097 1,118,887 - - - 198 -274 - - 198,274 126,828 - - - 525,774 - - 525,74 500,000 - 734,992 734,992 812,301 - - 2,315,860 2,315,860 - - 2,315,860 4,366,825 - 23,787,146 23,787.146 - 23,787,146 24,000,189 85,244,054 - 105,080,946 3,298,931 7,451,377 115,831,194 107,987,124 - - - (3,972,035) - (4,619,516) (8,591,551) (7,584,720) - 10,287,291 10,287,291 - 10,287,291 6,348,878 $ 1,222,959 S 95,531,345 S 26,103,006 S 1- 2,533,003 S 8,45 ",371 S 6,620,708 $ 187,611,082 $ 187,117,649 continued 3 KODIAK ISLAND BOROUGH COMBINED BALANCE SHEET -ALL FUND TYPES, ACCOUNTT GROUPS AND DISCRETELY PRESENTED COMPONENT UNITS AS OF JUNE 30, 1995 WITH COMPAR -ATIVE TOTALS FOR 1994 M Proprietary Governmental Fund Types Fund Type Special Debt Capital Internal General Revenue Service Projects Enterprise Service LIABU -=S, FUND EOUIfIES AND OTHER CREDITS LIABILITIES: Accounts payable S 87,719 5 138,226 $ 227 S 1,575,025 $ 252,146 $ 8,184 Retainages payable - - - 574,699 - - Accrued compensation - - - - - - Payroll taxes and employee benefits 22,458 18,5 Other accrued liabilities 18,235 20,936 31,910 Current portion of capital lease obligation - - - - - - Customer deposits - 3,474 - - 27,558 - Deferred and unrealized revenues - 899,692 - 36.878 - - Deferred compensation - - - - - - Due to City of Kodiak - - 17,210 Due to component units 3,4 7 575,000 - Due to primary government - - - - - Due to other funds - 686,000 - 100,000 140,000 - Due to student organizations - - - - - - Accrued landfill closure and postclosure costs - - - - 310,75" - Capital lease obligation - Accrued annual leave - - - - - General obligation bonds payable - - - - - - Environmental Protection Agency loan - - - - Total liabilities 3,606,001 1,745,963 575,227 2,286,602 768,607 40.094 FUND EQUITIES AND OTHER CREDITS: Contributions in aid of construction - - - - 14,927,837 617.382 Investment in general fixed assets - - - - - - Retained earnings: - - - - - - Reserved - - - - - - Unreserved - 1,262,936 (87,844) Fund balance: Reserved: Encumbrances 14,934,430 - Fuel inventory - - - - - - PL -874 Impact Aid - - - - - - Unreserved. Designated for subsequent ycars, expenditures 3,422,870 - 2,315,860 2,286,54^2 - - Undesignated 985,274 (12,088) - Total fund equities and other credits 3.422,870 985,2 2,315,860 17,208,884 16,190,773 529.538 TOTAL- LIABII,=S, PL1w EQUITIES AND OTr1ER CREDITS S 7,02S.871 S 2,731,237 S 2,891,08 S 19,495,486 S 16,959 5 569.63' The accompanying notes_ are an integral par. of these combined financial statements . M EXHIBIT 1, continued Fiduciary Totals Fund Type Account Groups Primary Component Units Totals Agency General General Long- Government School (?Memorandum Only) Fund Type Fixed Assets Term Debt (:Memorandum Only District Hospital 1995 1994 61 S 2,061,52 S 23,140 S 118,653 S 2,41',320 S 1,548 -549 - - - 5 -4,699 - - 5- 4,699 210,427 - - - - 1,494,221 489,930 1.984,151 1,383,52; - - - 41,029 - - 41,029 1,146,924 232,353 303,434 246.038 ' - - - - 136,881 136,881 133,999 31,032 - 31,032 2 936,570 179 - 936, 1,198,926 1,222,959 1,222,959 - 208,138 1,431,09' 1,118,887 1',210 - 1',210 10,010 - - - 4,052,589 - - 4,052,589 4,396,843 - - - 926,000 539,110 - 1,465,110 6,155,460 - - - - 163,280 - 163,280 136,00' - - - 310,75' - - 310, 281,449 ' - - - 65,365 65,365 135,510 240,092 240,092 133,458 - 3 -3,550 233,266 25,665,000 25,665,000 25,665,000 27,915,000 - 19 ",914 19',914 191,,9)4 218,748 1,222,959 26,103,006 36,348,459 2,56',388 1,251,320 40,167,16' 42,234 -278 - - - 15,545,219 - 3.688,648 19,233,86" 19,616,90" 95,531,345 95,531,345 3,298,931 - 98,830,276 8 - 1,811 1,811 1,109 1,1 "5.092 - 1,678,929 2,854,021 1,598,452 14,934,430 161470 15,09 3,617,026 ' - - - 166,564 - 166,564 155,544 - - - - 1.232.041 - - - - 1,581,`50 - 1,581,750 - 8,025,2"2 269,708 8,294,980 25,115.554 - - 9 -3,186 409,560 1,382, 6,060,394 95,531,345 136.184.544 5.889.983 5,369.388 14',443,915 144,883,3'1 S 1,222,959 S 95,531,345 S 26,103 -006 S 1 2.533,003 S S,457,3 S 6,620, "08 S 18;,611 -082 S 187,11",649 61 KODIAK ISLAND BOROUGH COMBINED STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS, AND CHANGES IN FUND BALANCE ALL GOVERNMENT FUND TYPES AND DISCRETELY PRESENTED COMPONENT UNIT YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Other financing sources (uses): Special Debt Transfer from component unit General Revenue Service Revenues: 209,081 936,492 Property taxes S 4,916,449 S 412,910 S Intergovernmental: (3,200,000) State sources 1,626,081 985,984 (1,642844) Federal sources 7,081 5,397 1,825,658 Land sale proceeds - 276,692 Severance taxes 1,060.465 - (2,050,965) Licenses, permits, fees and other local revenues 928,079 679,752 4,366,825 Investments and property 659,794 392,580 155,824 In -kind services - - " Total revenues 9,197,949 2,753,315 155,824 Expenditures Current: Borough assembly 121123 - Borough mayor 198,660 Borough clerk 268.945 Borough attorney 233.877 Finance department 515,638 Assessing department 302,409 Borough engineering and facilities department - - Community development department 396,356 58.550 Building official 54,957 - Economic development 111538 General administration 313,112 1,040,359 Emergency preparedness 2358 - School district support 92,627 - Health and sanitation department 408,433 1,991,125 Education, culture and recreation 153.500 - Oil spill cleanup - 21,414 Capital outlay: Schools - Service district maintenance 208375 General 5,319 - Debt service: Principal - 2,270,833 Interest 1,760,185 Fiscal agent fees 1,416 Other - 13 Total expenditures 3,175,533 3,325.142 4,032.447 Excess (deficiency) of revenue over (under) expenditures 6- 022.416 (571,827) (3,876,623) Other financing sources (uses): Transfer from component unit 2,532.010 Operating transfers in 209,081 936,492 Bond proceeds - Transfer to component unit (3,200,000) Operating transfers out (1.775.199) (671.258) (1,642844) Net other financing sources (uses) (4975.199) (462,177) 1,825,658 Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses 1,047,217 (1,034,004) (2,050,965) Fund balance at beginning of year 2,375,653 2.019.278 4,366,825 Adjustments to reserve for fuel inventory - - Fund balances at end of year S 3,422.870 S 985,274 S 2315,860 The accompanying notes are an integral part of these combined financial statements I EXHIBIT 2 Totals Component S - Primary Unit Totals - Reporting Entity Capital Government School (Memorandum Onlv) Projects ( Memorandum Only District 1995 1994 S - S 5,329,359 S - S 5,329,359 S 4,437,273 670,317 3,282,382 15,543.576 18,825,958 19,030,314 1,078,865 1,091,343 4,358,287 5,449,630 6,294,374 - 276,692 276,692 506.938 - 1,060,465 1,060,465 769,629 59,568 1,667,399 - 1,667,399 1,261,487 854,823 2,063,021 471,939 2,534,960 1,614,800 329,636 329.636 539,311 2,663,573 14,770,661 20,703,438 35,474,099 34,454,066 122,123 - 122,123 147,423 198,660 198,660 185,593 268,945 268,945 239,279 233,877 233,877 220,847 515,638 515,638 607,632 302,409 302,409 287,405 - - 115,043 454,906 454,906 448,032 54,957 54,957 82,138 112,538 112,538 60,914 1,353,471 1,353,471 1,23Q614 2,358 2358 9,906 92,627 22,263,416 22,356,043 20,993,365 - 2,399,558 2,399,558 2,273,989 153,500 153,500 133,000 - 21,414 21,414 34,637 8,298,902 8,298,902 8,298,902 5,147,579 - 208,375 208,375 133,554 2,835,442 2,840,761 1840,761 970,365 - 2,270,833 2,270.833 1,775.833 1,760,185 1,760,185 633,301 1,416 1,416 2,373 - 13 1 54,496 11,134.344 21,667,466 22,263.416 43,930,882 35,787,318 (8,470,771) (6,896,805) (1,559 -978) (8.456,783) (1,333.252) 2,532,010 2,532.010 2,075.565 2,739,178 3,884,751 3.200.000 7,084.751 5,676.424 - 18,9S7. (3,200,000) (3- 200,000) (3,200,000) (100,000) (4,189,301) (2,532.010) (6.721.311) (4,801,989) 2,639,178 (972.540) 667,990 (_04,550) 18,687,377 (5,831,593) (7,869,345) (891.988) (8,761533) 17,354,125 23,040,477 31,802,233 3,468,023 35,270,256 17,929,140 - 15,017 15.017 (13,009) S 17,208,884 S 23,932,888 S 2,591,052 S 2M23 ,940 S 35,270,256 7 KODIAK ISLAND BOROUGH COMBINED STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GENERAL FUND. SPECIAL REVENUE FUND AND DEBT SERVICE FUND YEAR ENDED JUNE 30, 1995 General Fund Revenues: Property taxes Intcmovemmental: State sources Federalsources Land sale proceeds Severance taxes Licenses, permits, fees and other local revenues Investments and property Total revenues Expenditures Current: Borough assembly Borough mayor Borough clerk Borough attorney Finance department Assessing department Borough engineering and facilities department Community development department Building official Economic development General administration Emergence preparedness School district support Health and sanitation department Education, culture and recreation Oil spill clean-up Capital outlay: Service district maintenance General Debt service: Principal Interest Fiscal acent fees Other variance- Favorable Budget Actual (Unfavorable) S 4,874.885 S 4,916,449 S 41,564 1,722,500 1,626,081 (96,419) 6.700 7,081 381 829,250 1,060,465 231.215 101,650 928,079 826.429 470,000 659,794 189,794 8,004,985 9,197,949 1,192,964 121,236 122,123 (887) 201,480 198,660 2,820 280,250 268,945 11,305 241,000 233,877 7,123 519,210 515,638 3,572 312,920 302,409 10,511 38,710 - 38,710 429,310 396,356 32,954 84,500 54,957 29,543 110,000 112,538 (2,538) 312250 313,112 (862) 10,300 2,358 7,942 94,500 92,627 1,873 408,650 408,433 217 153,500 153,500 - Total expenditures Excess (deficienev) of revenue over (under) expenditures Other financing sources (uses): Transfers from component unit Operating transfers in Transfers to component unit Operating transfers out Net other financing sources (uses) Excess (defic) encv) of revenues and other financing sources over (under) expenditures and other financing uses Fund balance at beginning of year Fund balances at end of year 3,317.816 3,175,533 142,283 dF9'7Ir1Q rn'7l) III (I 1�2i'7a'7 (3,200,000) (1,767.550) (d QF7 SAM S (280,381) The accompanying notes are an integral part of these combined financial statements. (3.200.000) (1.775,199) (4,975,199) 1,047,217 2,375,653 S 3.422,870 (7,649) (7,649) S 1,327.598 0 1W:4ar311W 58,550 Special Revenue Funds (470.000) Debt Service Funds - (1,034,004) 1,386,179 Variance- 345,820 anance- - (5.666) Favorable 1,991,125 Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) S 402,410 S 412,910 S 10,500 S S S 981,833 985,984 4,151 - 5,770 5,397 (373) - - 426,597 276,692 (149,905) 2.270,840 800,970 679,752 (121,218) - - 369,050 392,580 23.530 190,000 155.824 (34,176) 2,986,630 2.753,315 (233,315) 190,000 155,824 (34,176) 58,550 58,550 (470.000) (462.177) - (1,034,004) 1,386,179 1,040,359 345,820 985,274 - (5.666) 2,110,067 1,991,125 118,942 - S 267.563 S - 21,414 (21.414) 263,401 208,375 55.026 - - 5.319 (5,319) - - - - 2.270,840 2,270.833 7 - - 1,760,190 1,760.185 5 - 5,000 1.416 3,584 - - - 57,970 13 57,957 3.818,197 3.325,142 493,055 4,094,000 4.032,447 61,553 (831,567) (571,827) 259.740 (3,904,000) (3,876.623) 27377 200,000 (670,000) 209,081 (671.258) (470.000) (462.177) $ (1,301,567) (1,034,004) 936,492 2,019,278 S 985,274 - 2,570.000 2,531010 (37,990) 9,081 933,000 936,492 3.492 (1.258) (1,637,178) (1.642.844) (5.666) 7.823 1,865.822 1,825,658 (40.164) S 267.563 S (2,038,178) (2,050,965) S (12.787) 2,-i 1 `,M)u continued we KODIAK ISLAND BOROUGH COMBINED STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GENERAL FUND, SPECIAL REVENUE FUND AND DEBT SERVICE FUND YEAR ENDED JUNE 30, 1995 EXHIBIT 3- continued Totals (Memorandum Only) Variance- Favorable Budget Actual (Unfavorable) Revenues: Property taxes Intergovernmental: State sources Federal sources Land sale proceeds Severance taxes Licenses, permits, fees and other local revenues Investments and property Total revenues Expenditures Current: Borough assembly Borough mayor Borough clerk Borough attomey Finance department Assessing department Borough engineering and facilities department Community development department Building official Economic development General administration Emergency preparedness School district support Health and sanitation department Education, culture and recreation Oil spill clean-up Capital outlay: Service district maintenance General Debt service: Principal Interest Fiscal aeent fees Other Total expenditures Excess (deficiency) of revenues over (under) expenditures Other financing sources (uses): Transfer from component unit Operating transfers in Transfers to component unit Operating transfers out Net other financing uses Excess (deficiency) of revenues and other financing sources over (under) expenditures and other financing uses Fund balance at beginning of year S 5,277,295 S 5,329,359 S 52.064 2,704333 2,612,065 (92,268) 12,470 12,478 8 426,597 276.692 (149,905) 829.250 1.060,465 231,215 902.620 1,607,831 705,211 1,029,050 1,208,198 179,148 11,181.615 12,107,088 925,473 121,236 122,123 (887) 201,480 198,660 2,820 280,250 268,945 11.305 241,000 233,877 7,123 519,210 515,638 3.572 312,920 302,409 10.51I 38,710 - 38.710 487,860 454,906 32.954 84,500 54,957 29,543 110.000 112,538 (2.538) 1,698,429 1,353,471 344,958 10,300 2,358 7,942 94,500 92,627 1.873 2,518,717 2.399,558 119,159 153,500 153,500 - - 21,414 (21,414) 263.401 208,375 55,026 - 5,319 (5,319) 2,270,840 2.270,833 7 1.760,190 1,760,185 5 5.000 1,416 3,584 57.970 13 57,957 11,230,013 10,533,122 696,891 (48,398) 1,573,966 1,622.364 2.570.000 2.532,010 (37.990) 1.133.000 1,145,573 12.573 (3,200,000) (3,200,000) (4.074.728) (4.089,301) (14.573) (3.571.728) (3,611 (39,990) S (3,620,126) (2.037,752) S 1,582374 Fund balances at end of year The accompanying notes are an integral part of these combined financial statements. 8,761,756 S 6,724,004 10 KODIAK ISLAND BOROUGH EXHIBIT 4 COMBINED STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND CHANGES IN RETAINED EARNINGS PROPRIETARY FUND TYPES AND DISCRETELY PRESENTED COMPONENT UNIT YEAR ENDED NNE 30, 1995 1A ITH COMPARATIVE TOTALS FOR 1994 Operating expenses Personnel services 365,020 376,823 741,843 5,474,910 Totals 6,052,904 Solid waste collection 1,079,015 - Totals - Reporting Entity 1,050,821 Purchased water and sewer treatment 746,758 Primary Component (Memorandum Only) 721,741 Contracted services 242,163 Internal Government Unit 1,049,397 809,287 Repairs and maintenance Enterprise Service (Memorandum Ordy) Hospital 1995 1994 Operating revenues: 29,308 - 29,308 - 29,308 28,454 Water sales S 449,817 S S 449,817 S S 449,817 S 424,457 Sewer service charges 551,272 - 551,272 49,667 551,272 525,345 Solid waste collection 1,205,065 - 1,205,065 177,461 1,205,065 1,193,712 Solid waste disposal 819,630 10,093 819,630 779,881 819,630 434,098 Patient and resident revenues - - - 8,485,895 8,485,895 8,709.759 Installation charges 1,352 63,498 1,352 - 1,352 852 Charges for services - 319,305 319305 - 319,305 244.755 Other 26,546 - 26.546 211720 239,266 367,205 3,053,682 319,305 3,372,987 8,698,615 12.071,602 11,900,183 12,726,013 Operating expenses Personnel services 365,020 376,823 741,843 5,474,910 6,216,753 6,052,904 Solid waste collection 1,079,015 - 1,079,015 - 1,079,015 1,050,821 Purchased water and sewer treatment 746,758 746,758 - 746,758 721,741 Contracted services 242,163 - 242,163 807,234 1,049,397 809,287 Repairs and maintenance 64,160 46,230 110,390 262,104 372,494 498,260 Landfill closure and postclosure costs 29,308 - 29,308 - 29,308 28,454 Depreciation 414,468 140,417 554,885 451,947 1,006.832 840,638 Professional fees - - - 49,667 49,667 296,313 Bad debt - - - 177,461 177,461 370,789 Supplies 2,037 10,093 12.130 779,881 792,011 892.002 Interest - - - 25,010 25,010 83,726 General administrative 207,197 63,498 270,695 - 270,695 153,104 Other 34,659 - 34,659 781,543 816,202 939,392 Allocated to projects - - - - 11,418 3,184,785 637,061 3,821,846 8,809,757 12,631.603 12,726,013 Operating loss (131,103) (317,756) (448,859) (111,142) (560,001) (825,830) Other income: Interest income 26,058 26,058 46,441 72,499 34.253 State revenue sharing - - 139,040 139,040 129,416 Donor restricted gifts - 6,840 6,840 3,705 26,058 26,058 192,321 218,379 167374 Loss before transfers and cumulative effect of adoption ofGASB18 (105,045) (317,756) (422 81,179 (341,622 (658.456) Operating transfers in 304,550 304.550 304,550 250,000 Loss before cumulative effect ofadoption of GASB 18 (105,045) (13,206) (118,251) 81,179 (37,072) (408.456) Cumulative effect of adoption of GASB 18 - (251995) Net income (loss) (105,045) (13,206) (118,251) 81,179 (37,072) (661,451) Amortization of contributions in aid of construction 383.040 383.040 - 383.040 383,040 Increase (decrease) in retained earnings 277,995 (13,206) 264,789 81,179 345,968 (278,411) Retained earnings at beginning ofyear 984,941 (74,638) 910303 5,288,209 6,198,512 2,788-275 Retained earnings at end of year S 1,262,936 S (87,844) S 1,175,092 S 5369,388 S 6,544,480 S 2,509,864 The accompanying notes are an integral part of these combined financial statements KODIAK ISLAND BOROUGH CONMINTED STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPES AND DISCRETELY" PRESENTED COMPONENT UNTO YEAR ENDED JUNTE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT 5 Cash and cash equivalents consist of equity in central treasury and temporary investments including those under the caption, "restricted assets," on the balance sheet The accompanying notes are an integral part of these combined financial statements. 12 Totals Totals Reporting Primary Component Entity Internal Government unit (Memorandum Only) Enterprise Senice ( Memorandum Only Hospital 1995 1994 Operating loss S (131.103) S (317,756) S (448,859) S (111,142) S (560,001) S (825,830) Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation 414,468 140,417 554,885 451,947 1,006,832 963,585 Provision for =collectible accounts - - - 177,461 177,461 370,789 Provision for landfill closure and postclosure costs 29,308 - 29,308 - 29,308 28,454 Loss on sale of assets - - - - - 2,690 Changes in assets and liabilities. Accounts receivable: Customers and patients 24,352 - 24,352 (130,169) (105,817) (268,912) Other - - - (92,051) (92,051) (75,992) Prepaid expenses - - - 39,219 39,219 51,786 Inventories, at cost - - - 5,560 5,560 (14,001) Due to /from other funds - - - - - (9,000) Other assets - - - Accounts payable 2,397 283 2,680 (65,254) (62,574) 3,678 Customer deposits 8,658 - 8,658 - 8,658 (9,265) Accrued expenses - - - 49,416 49,416 33,900 Due to the City of Kodiak 7,200 - 7,200 - 7,200 (30,290) Due to deferred compensation plan participants - - - - - 49,965 Deferred revenue - - - - - (121.290) Other accrued liabilities 5,583 10,231 15,814 (10,000) 5,814 5,674 Total adjustments 491,966 981,771 642,897 426,129 1,069,026 150,931 Net cash provided by (used for) operating activities 360,863 (166,825) 194,038 314,987 509.0225 155,941 Cash flovvs from noncapital financing activities: State of Alaska, Revenue Sharing payments received - - - 139,040 139,040 129,416 Operating transfer in - 304,550 304,550 - 304,550 250,000 Net cash provided by noncapital financing activities - 304,550 304,550 139,040 443,590 379,416 Cash flows from capital and related financing activities: Acquisition and construction of capital assets (184,368) (20,338) (204,706) (161,452) (366,158) (414,919) Proceeds from sale of equipment - - - - - 7.972 Principal payments made on capital lease - - - (139,658) (139,658) (131,292) Receipt of gifts restricted by donor for capital purchases - - 6,840 6,840 34,925 Net cash used for capital and related financing activities (184,368) (20,338) (204,706) (294,270) (495,976) (503,314) Cash flows from investing activities: Change in assets whose use is limited. Under malpractice funding arrangement - - - 168,0 168,011 267,026 By donor for specific purpose - - - (702) (702) 16,073 Designated for deferred compensation plan benefits - - - - - (49,965) Interest and dividends on investments -6,058 26,058 46,441 72,499 34,253 Net cash provided by investing activities 26,05£ 26,058 213,750 239.808 26 ?,387 Net change in cash and cash equivalents 202,553 117,387 319,940 373,507 693,447 299,430 Cash and cash equivalents at beginning of year 905,440 7,786 91',226 727,704 1,644,930 1353,286 Cash and cash equivalents at end ofyear S 1,111,993 S 125,173 S 1,23 7,166 S 1,10],2]1 S 117 S 1,65 Cash and cash equivalents consist of equity in central treasury and temporary investments including those under the caption, "restricted assets," on the balance sheet The accompanying notes are an integral part of these combined financial statements. 12 i 7 KODIAK ISLAND BOROUGH NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 1995 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Reportine Entity The Kodiak Island Borough (Borough) was organized to perform the municipal duties allowed by Alaska Statutes and as directed by its residents. As required by generally accepted accounting principles, these financial statements present the government and its component units, entities for which the government is considered to be financially accountable. Each discretely presented component unit is reported in a separate column in the combined financial statements to emphasize it is legally separate from the government. The Borough reviewed its relationship with other organizations and determined that the following two organizations are component units. 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 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. Complete financial statements for each of the individual component units may be obtained at the entity's administrative offices. Kodiak Island Borough School District 722 Mill Bay Road Kodiak, Alaska 99615 Kodiak Island Hospital and Care Center 1915 East Rezanof Drive Kodiak, Alaska 99615 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 cash flows in conformity with generally accepted accounting principles. Nor are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of these data. Certain 1994 balances have been reclassified to conform to the current year presentation. B. Measurement Focus. Basis of Accounting and Basis of Presentation Kodiak Island Hospital and Care Center: The Borough owns the Kodiak Island Hospital and Care Center (Hospital) and related furnishings. The Borough has contracted the Hospital's operating activities to the Lutheran Health Systems Management Company, a North Dakota company. 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 accounts of the government are organized and operated on the basis of funds and account groups. A fund is an independent fiscal and accounting entity with a self - balancing set of accounts. Fund accounting segregates funds according to their intended purpose and is used to aid management in demonstrating compliance with finance - related legal and contractual provisions. The minimum number of funds are maintained consistent with legal and managerial requirements. Account groups are a reporting device to account for certain assets and liabilities of the governmental funds not recorded directly in those funds. ' 13 The government has the following fund types and account groups: The debt service fund accounts for the servicing of general long -term debt not being financed by proprietary or nonexpendable trust funds. Governmental funds are used to account for the government's general government activities. Governmental fund types use the flow of current financial resources measurement focus and the modified accrual basis of accounting. Under the modified accrual basis of accounting revenues are recognized when susceptible -to- accrual (i.e., when they are "measurable and available "). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to pay liabilities of the current period. The government considers all revenues available if they are collected within 60 days after year end. Expenditures are recorded when the related fund liability is incurred, except for unmatured interest on general long -term debt which is recognized when due, and certain compensated absences and claims and judgments which are recognized when the obligations are expected to be liquidated with expendable available financial resources. Property taxes, franchise taxes, severance taxes, licenses, interest and special assessments are susceptible -to- accrual. Other receipts and taxes become measurable and available when cash is received by the government and are recognized as revenue at that time. Entitlements and shared revenues are recorded at the time of receipt or earlier if the susceptible -to- accrual criteria are met. Expenditure - driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other grant requirements have been met. Governmental funds include the following fund types: The general fund is the government's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The special revenue funds account for revenue sources that are legally restricted to expenditure for specific purposes (not including expendable trusts or major capital projects.) 14 The capital projects funds account for the acquisition of fixed assets or construction of major capital projects not being financed by proprietary or nonexpendable trust funds. Proprietary funds are accounted for on the flow of economic resources measurement focus and use the accrual basis of accounting. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The government applies all applicable FASB pronouncements in accounting and reporting for its proprietary operations. Proprietary funds include the following fund types: Enterprise funds are used to account for those operations that are financed and operated in a manner similar to private business or where the board has decided that the determination of revenues earned, costs incurred and/or net income is necessary for management accountability. The internal service fund accounts for operations that provide services to other departments or agencies of the government, on a cost - reimbursement basis. Fiduciary funds account for assets held by the government in a trustee capacity or as an agent on behalf of others. The agency fund is custodial in nature and does not present results of operations or have a measurement focus. Agency funds are accounted for using the modified accrual basis of accounting. This fund is used to account for assets that the government holds for others in an agency capacity. Account Groups The general fixed assets account group is used to account for fixed assets not accounted for in proprietary or trust funds. The general long- term debt account group is used to account for general long -term debt and certain other liabilities that are not specific liabilities of proprietary or trust funds. r 7 LI 1 1 Summarized below are the major sources of revenue and the applicable recognition policies: 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 are then mailed on or before July 1st. Taxes are due when billed and generally become delinquent on or after October 15th. The Borough code also provides for split payments. If a taxpayer avails himself of this provision then one half must be paid on or before August 15th and the second half then becomes due on or before November 15th (in lieu of October 15th). Borough property tax revenues are recognized in the fiscal year in which they become measurable and available, which is generally the year following the year the tax bills are mailed. All taxes are delinquent on November 16th and a tax foreclosure process may commence as outlined in Alaska Statutes Title 29. Briefly this entails the petition for Judgment of Foreclosure signed by the District Court Judge and the publication of all delinquent taxes in the local newspaper for four consecutive weeks. Real property tax liens are enforced by one general foreclosure proceeding against the delinquent properties. Severance Taxes Severance taxes are based on the amount and value of natural resources severed from the environment. Types of resources taxed include seafood, gravel and mineral resources, and timber. Severance tax returns are sent to the appropriate companies (as determined by the Borough assessor), and are returned to the Borough Finance Department. The returns are filed quarterly, and are due by the end of the month following the quarter's end. Borough severance tax revenues are recognized in the fiscal year in which they become measurable and available, generally when they are received soon enough to pay expenditures of the current fiscal period. To ensure accuracy of amounts of fish and other seafood caught, the Borough compares the amount of catch reported on the severance tax returns to amounts reported to the State of Alaska Department of Revenues and the State of Alaska Department of Fish & Game. For rock, gravel, and timber, the assessing office periodically does a site review of the 15 mining/logging area to determine the reasonableness of gross amounts reported on the severance tax returns. Intergovernmental Revenue State of Alaska shared revenues, municipal assistance, 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 if final payments due are measurable and received within approximately two months after year end. State of Alaska and Federal government cost reimbursable grants and contracts 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 the balance due. Land Sales Proceeds and Other Local Revenues Amounts received pursuant to land sale contracts are recorded on the cash basis. Noncurrent portions of long -term receivables due to Governmental Fund Types are reported on the associated 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 are paid. Other local revenues are recorded on a basis consistent with their nature in relation to measurement and availability standards. Implementation of GASB 22, Accounting for Taxpayer - Assessed Tax Revenues During the year ended June 30, 1995, the Borough implemented GASB 22. GASB 22 requires the accrual of taxpayer - assessed taxes (severance taxes) which are measurable as of year -end, and available to pay expenditures incurred in the current fiscal period. The cumulative effect of the adoption of GASB 22 is immaterial in relation to the Borough's financial statements taken as a whole. Implementation of GASB 22 resulted in $192,000 of additional severance tax revenues in the year ended June 30, 1995. C. Budgets and Budgetary Accounting Borou h The Borough follows these procedures in establishing the budgetary data reflected in the combined financial statements: than one year. Budget and actual information for the Oil Spill Clean-Up Fund has not been included in the Combined Statement of Revenues, Expenditures, Transfers and Changes in Fund Balance - Budget and Actual, because it is not budgeted on an annual basis. Revenues and expenses for the Oil Spill Clean-Up Fund were $0 and $21,414, respectively, in 1995. n 1. 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. 2. Public hearings are conducted by the Borough Assembly to obtain taxpayer comments. 3. By June 10, the budget is legally enacted through passage of an ordinance by Borough Assembly action. If the Borough Assembly fails to pass an ordinance, the budget submitted by the Mayor becomes the adopted budget. 4. 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: a. All new appropriations are authorized by an appropriation ordinance that amends the annual budget ordinance. b. A resolution of the Borough Assembly is required to move (appropriate) amounts between departments and projects. c. 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. 5. Expenditures may not legally exceed appropriations at the following levels: Capital Projects Funds - project level; all other funds - department level. All funds, except Capital Projects Funds and the Oil Spill Clean Up Fund, are budgeted on an annual basis encompassing a fiscal year. Budgets of Capital Project Funds and the Oil Spill Clean Up Fund generally encompass the period from start up to project completion, which is generally greater 16 7. Appropriations lapse at year end to the extent that they have not been expended for all funds, except Capital Projects Funds and the Oil Spill Clean Up Fund, which lapse at project completion. 8. Budgets adopted by the Borough Assembly are in accordance with generally accepted accounting principles. 9. Additional appropriations for certain funds were enacted during the year. 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, 1995, there were two formal budget revisions to adjust the revenues and expenditures to available resources and program needs. 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 expenses 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 - F L �l F operating loss subsidies are classified as operating transfers. Nonrecurring or nonroutine transfers of equity between funds are recorded as equity transfers. Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of moneys 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. I Inventories rl LJ Borough. Expendable operating supplies of the Borough are accounted for using the purchase method and, at June 30, 1995, there were no significant amounts of such items. School District The consumption method is used to account for the inventories of teaching, maintenance and foods supplies. These inventories are valued at average cost and available fund balance was reserved for all inventories. Fuel inventory is accounted for by the purchase method and valued at cost (first -in, first - out). Hospital. Inventories are stated at the lower of cost or market, with cost determined substantially on a first -in first -out basis. Retirement Plans All full -time employees of the Borough and School District participate in either the Alaska Public Employees' Retirement System (PERS) or the Alaska Teachers' Retirement System (TRS). The Borough and School District accrue pension expense which includes current costs and amortization of prior service costs. The policy is to fund pension costs accrued. Annual Leave The Borough (excluding the School District) records its liability for accrued annual leave in the Governmental Fund Types for the amounts estimated to be liquidated with current available resources. 17 The commitment for accrued annual leave not included in the Governmental Fund Types is recorded in the General Long -Term Debt Account Group. Cash sufficient to pay the long -term debt is deposited in a Debt Service Fund. All funds record leave (including sick leave) as earned. E. Cash Flows All highly liquid investments (including restricted assets) with original maturities of three months or less are considered cash equivalents for purposes of the statement of cash flows. This includes equity in central treasury and other cash and cash equivalents and also temporary investments and equity in central treasury which are classified as "restricted assets." NOTE 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 central treasury". In addition, investments are separately held by several of the Borough's funds. Investments, other than the investment in the deferred compensation plan which is carried at market value, are carried at amortized cost, not lower of cost or market. Premiums and discounts on investments are amortized over the life of the investment using the straight -line method of amortization. Deposits At June 30, 1995, the carrying amount of the Borough's deposits was $1,430,884 and the bank balance was $1,979,601. The year end bank balances are fully collateralized and insured. 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 Code requires all investments to be collateralized and/or insured. Collateral pledged on investments is required to be held for the Borough by a third party bank. In accordance with Governmental Accounting Standards Board Statement No. 3 (GASB 3) investments are categorized as follows: Category 1 includes investments that are insured, or registered or for which the securities are held by the Borough or its agent in the Borough's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the Borough's name. Category 3 includes uninsured and unregistered investments for which the securities are held by the counterparty, or by its trust department or agent but not in the Borough's name. At June 30, 1995, the Borough's investment balances were categorized as follows: Category 2 u Carrying Market Amount Value U.S. Government Securities $ 25,348,463 $ - $ - $ 25,348,463 $ 25,475,963 $ 25,348,463 $ - $ - 25,348,463 25,475,963 Deferred Compensation Plans 1,431,097 1,431,097 Money Market Account 3,534 3,534 Municipal League Investment Pool 3,838,507 3,838,507 Total Investments The above deposits of $1,430,884 and investments of $30,621,601 totaling $32,052,485 are reported under the following captions in the combined financial statements: Equity in central treasury $ 2,393,990 Temporary investments 27,250,125 Other cash and cash equivalents 245,639 Assets whose use is limited: Under malpractice funding arrangement held by trustee 5,775 By donor for specific purpose 1,811 Investment in deferred compensation plan 1,431,097 Equity in central treasury 198,274 Temporary investments 525,774 Total deposits and investments $ 32,052,485 NOTE 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, data processing, and the annual independent audit. These are reflected as in -kind services in the financial statement of the School District. $ 30,621,601 $ 30,749,101 NOTE 4: HOSPITAL APPROPRIATION By terms of the operating agreement with the Lutheran Health Systems Management Company, the Borough is ultimately responsible for operating losses, if any sustained by the Hospital. The Borough received shared revenue from the State of Alaska in the amount of $89,040 required to be passed through to the Hospital. This amount was recorded as revenue by the Hospital. NOTE 5: RETIREMENT COMMITMENTS As of June 30, 1995, 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. 1 1 18 1 I �1 LJ 1 1 u 1 L� 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 2% of the member's three highest 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 all remaining 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. Under State law, covered employees are required to contribute 6.75% of their annual salary to the System and the Borough contributes the amount actuarially required in addition to employee contributions to finance the benefits of the system. Teachers' Retirement System (TRS) The Teachers' Retirement System of Alaska is a joint contributory retirement system to provide benefits for teachers of the State of Alaska. All the School 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 fifteen 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 19 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. TRS also provides death and disability benefits and major medical benefits. Under State law, covered employees are required to contribute 8.65% of their base salary. 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 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. The pension benefit obligation was computed as part of an actuarial valuation as of June 30, 1994 (latest available). Significant actuarial assumptions used in the valuation include (a) a rate of return on the investment of present and future assets of 8.0 percent per year compounded annually for PERS and TRS, respectively, (b) projected salary increases of 5.5 percent a year for the first five years of employment and 4.5 percent per year thereafter and (c) health cost inflation of 9.5 percent per year, adjusted downward by 1% each year through 1997. The pension benefit obligation of PERS and TRS as calculated in the most recent actuarial valuation is as follows on the next page: 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 6,802 11,620 18,422 2,472,957 s 1 1 UNFUNDED PENSION BENEFIT OBLIGATION $ (206) $ (20) $ (226) $ (288,452) ' (1) The IRS system does not make separate measurements of assets and pension benefit obligation for individual employers. Amounts for IRS represent the system as a whole. The School District's actuarially determined contribution was 1.6% of the total current year actuarially determined contribution requirements for all employers. Requirements and Contributions Made The 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 twenty-five 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 1995 were made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1994. The contributions consisted of the following on the next page: 1 1 RM PERS TRS (1) (in thousands) (in thousands) School Total All Borough District PERS Employers $ 3,035 $ 5,432 $ 8,467 $ 1,419,506 1,091 1,394 2,485 398,990 2,516 4,219 6,735 870,309 366 595 961 72,604 7,008 11,640 18,648 2,761,409 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 6,802 11,620 18,422 2,472,957 s 1 1 UNFUNDED PENSION BENEFIT OBLIGATION $ (206) $ (20) $ (226) $ (288,452) ' (1) The IRS system does not make separate measurements of assets and pension benefit obligation for individual employers. Amounts for IRS represent the system as a whole. The School District's actuarially determined contribution was 1.6% of the total current year actuarially determined contribution requirements for all employers. Requirements and Contributions Made The 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 twenty-five 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 1995 were made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1994. The contributions consisted of the following on the next page: 1 1 RM L I I 1 � I � I LI Total current year payroll was $17,133,177. Valuation of Medical Benefits Medical benefits for retirees are provided by the payment of Medicare premiums from PERS and TRS. In fiscal 1995 the pre-65 monthly cost of $383 and post -65 cost of $134 (due to Medicare) were assumed such that the total blended rate for all retirees of $280 equals the present monthly premium rate. These medical premiums are then increased with the health inflation assumption. The actuarial cost method used for funding retirement benefits is also used to fund health benefits. Net asset available for benefits: Pension benefit obligation (PBO): Historical Trend Information Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. The pension benefit obligation has not been determined by the actuary for years prior to June 30, 1987. As a result, only information at June 30, 1994, 1993, 1992, 1991, 1990, 1989, 1988, and 1987 is available regarding the trend indicators, on the following page ($ in thousands). PERS PERS (in thousands) School Borough District 1987 (in thousands) 5,685 1988 2,896 TRS 1989 3,468 Borough 1990 School District 8,751 (in thousands) 4,583 8,273 1992 Percent of 9,413 1993 Percent of 10,613 1994 Percent of 11,620 1987 $ 1,929 $ Covered 1988 2,680 Covered 1989 3,328 Covered 1990 Amount Payroll Amount Payroll 8,862 Amount Payroll Covered payroll $ 2,652 100% $ 2,970 100% $ 10,510 100% Contributions - Normal cost - Total contributions paid $ 551 20.78% $ 524 17.64% $ 1,810 17.22% Amortization of unfunded liability (funding surplus) (74) (2.79%) 37 1.25% 360 3.43% TOTAL $ 477 17.99% $ 561 18.89% $ 2,170 20.65% Required contributions - Employer $ 298 11.24% $ 361 12.15% $ 1,261 12.00% Employee 179 6.75% 200 6.73% 909 8.65% TOTAL $ 477 17.99% $ 561 18.89% $ 2,170 20.65% Total current year payroll was $17,133,177. Valuation of Medical Benefits Medical benefits for retirees are provided by the payment of Medicare premiums from PERS and TRS. In fiscal 1995 the pre-65 monthly cost of $383 and post -65 cost of $134 (due to Medicare) were assumed such that the total blended rate for all retirees of $280 equals the present monthly premium rate. These medical premiums are then increased with the health inflation assumption. The actuarial cost method used for funding retirement benefits is also used to fund health benefits. Net asset available for benefits: Pension benefit obligation (PBO): Historical Trend Information Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. The pension benefit obligation has not been determined by the actuary for years prior to June 30, 1987. As a result, only information at June 30, 1994, 1993, 1992, 1991, 1990, 1989, 1988, and 1987 is available regarding the trend indicators, on the following page ($ in thousands). 1 21 PERS (in thousands) School Borough District 1987 $ 2,222 $ 5,685 1988 2,896 7,111 1989 3,468 7,794 1990 4,227 8,751 1991 4,583 8,273 1992 5,277 9,413 1993 6,240 10,613 1994 6,802 11,620 1987 $ 1,929 $ 5,085 1988 2,680 6,477 1989 3,328 7,331 1990 3,888 7,467 1991 4,655 8,862 1992 5,356 9,819 1993 6,320 10,643 1994 7,008 11,640 1 21 22 1 (continued) PERS (in thousands) School Borou District Net assets available for benefits as a percentage of PBO: 1987 115.19% 111.80% 1988 1989 108.06% 104.21% 109.79% 106.32% 1990 108.72% 117.20% 1991 98.45% 93.35% 1992 98.53% 95.87% 1993 98.73% 99.72% 1994 97.06% 99.83% Assets in excess (deficiency) of PBO: 1987 $ 294 $ 600 1988 216 634 ' ` 1989 140 463 1990 339 1,284 1991 (72) (589) 1992 (79) (406) ` 1993 (80) (30) 1994 (206) (20) Annual covered payroll: 1987 $ 1,701 $ 2,431 1988 1,830 2,473 1989 1990 2,131 2,373 2,526 2,562 ' 1991 2,418 2,615 1992 2,429 2,648 1993 2,845 2,863 1994 2,577 2,987 1995 2,652 2,970 Assets in excess (deficiency of PBO expressed as a percentage of annual covered payroll) 1987 17.28% 24.68% 1988 11.80% 25.64% ' 1989 6.57% 18.33% 1990 14.29% 50.12% 1991 (2.98)% (22.52)% 1992 (3.25)% (15.33)% 1993 (2.81)% (1.05)% 1994 (7.99)% (0.67)% Contribution rates: Employee 1987 6.75% 6.75% 1988 6.75% 6.75% 1989 1990 6.75% 6.75% 6.75% 6.75% ' 1991 6.75% 6.75% 1992 6.75% 6.75% 1993 1994 6.75% 6.75% 6.75% 6.75% ' 1995 6.75% 6.75% Employer 1987 4.27% 7.29% 1988 9.20% 6.24% ' 1989 9.20% 6.24% 1990 5.34% 4.27% 1991 7.55% 5.24% 1992 10.25% 8.25% , 1993 9.07% 3.25% 1994 10.52% 8.25% 1995 11.22% 12.15% , 22 1 iI � I NOTE 6: FIXED ASSETS Sewer and water lines Building and improvements Equipment Less: accumulated depreciation Net fixed assets A summary of changes in the General Fixed Assets Account Group for the year ended June 30, 1995 follows: Enterprise Service July 1, 1994 Additions Deductions June 30, 1995 2,495,762 Government Land $ 8,060,221 $ 3,484 $ - $ 8,063,705 (3,696,911) Buildings 67,392,318 7,047,054 - 74,439,372 Improvements other than buildings 845,153 - - 845,153 Machinery and equipment 1,848,981 174,282 127,439 1,895,824 Construction work -in- progress 6,348,878 10,985,467 7,047,054 10,287,291 $ 84,495,551 $ 18,210,287 $ 7,174,493 $ 95,531,345 School District Equipment $ 2,990,793 $ 375,002 $ 66,864 $ 3,298,931 The following is a summary of Proprietary Fund fixed assets at June 30, 1995: Sewer and water lines Building and improvements Equipment Less: accumulated depreciation Net fixed assets $ 15,420,398 $ 444,459 The following is a summary of Hospital fixed assets at June 30, 1995 Land and improvements Internal Enterprise Service Funds Fund $ 16,224,045 $ - 2,495,762 - 397,502 719,583 19,117,309 719,583 (3,696,911) (275,124) $ 15,420,398 $ 444,459 The following is a summary of Hospital fixed assets at June 30, 1995 Land and improvements $ 40,275 Building and improvements 4,138,879 Equipment 3,272,163 7,451,317 Less: accumulated depreciation (4,619,516) Net fixed assets $ 2,831,801 Depreciation lives for Proprietary Fund fixed assets are as follows: Sewer and water lines 50 years Building and improvements 15 -50 years Equipment 5 -20 years 23 An expenditure qualifies for capitalization as a fixed asset if the total cost is $500 or more, the asset will last longer than one year, and the asset is not consumable. Improvements to an existing asset that increase the life or value of that asset also qualify for capitalization, and are added to the carrying amount of the original asset. Such improvements are depreciated over the estimated remaining useful life of the asset. NOTE 7: HOSPITAL CAPITAL LEASE OBLIGATION The Hospital leases various equipment under long- term lease agreements at imputed rates of interest ranging from 8.50% to 14.7 %. The unamortized cost of such equipment included in fixed assets at June 30, 1995 is $723,000. Accumulated amortization on the leased equipment is approximately $452,000 at June 30, 1995. Amortization of the leased equipment is included in depreciation expense. Minimum lease payments for the remainder of the lease term are as follows: Year ending June 30, 1996 1997 1998 1999 Total minimum lease payments Less interest Present value of minimum lease payments Less current portion Capital lease obligation $ 149,966 35,430 24,265 14,790 224,451 (22,205) 202,246 (136,881) $ 65,365 II i] LJ f i J I i 24 1 NOTE 8: LONGTERM DEBT The following is a summary of long -term debt for the year ended June 30, 1995: * Interest free unless delinquent; then 7% plus fees and penalties. 26 Interest Principal Payments Issue Maturity Type of Debt Rates Dates Date Dates Dates Amount Environmental Protection Agency Asbestos Abatement Loan 0.0% * 6/20/85 11/8/05 12/31/95 $ 10,408 06/30 and 12/31 1996 thru 2004 18 x 10,417 197,914 General Obligation School Refunding Bonds - 1989 Series 6.6 -8.0% 8/1 -2/1 5/1/89 8/1/00 8/1/95 835,000 8/1/96 890,000 8/1/97 945,000 8/1/98 1,015,000 8/1/99 1,080,000 8/1/00 1,155,000 5,920,000 General Obligation School Refunding Bonds -1991 Series 4.65 -5.90% 12/1 -6/1 7/15/91 6/1/96 12/1/95 750,00' 6/1/96 250,000 1,000,000 General Obligation Bonds -1993 Series 4.05 -7.00% 8/15 -2/15 11/15/93 2/15/06 2 /15/96 __625,00Q-- 2/15/97 655,000 2/15/98 695,000 2/15/99 730,000 2/15/00 760,000 2/15/01 790,000 2/15/02 825,000 2/15/03 860,000 2/15/04 900,000 2/15/05 940,000 2/15/06 980,000 8,760,000 General Obligation Bonds - 1994 Series 5.40 -5.50% 8/15 -2/15 11/15/93 2/15/14 2 /15/10 4,465,000 1115/14 5,520,000 9,985,000 $ 25,862,914 * Interest free unless delinquent; then 7% plus fees and penalties. 26 Authorized Prior Years Fiscal Year Amount Issued Current Year Balance at Balance at Retired July 1, 1994 Issued Retired June 30, 1995 1985 $ 375,000 $ 375,000 $ 156,252 $ 218,748 $ - $ 20,834 $ 197,914 1989 1992 1994 10,000,000 10,000,000 3,300,000 6,700,000 4,875,000 4,875,000 2,860,000 2,015,000 780,000 5,920,000 1,015,000 ` 1,000,000 9,215,000 9,215,000 - 9,215,000 - 455,000 8,760,000 1994 9,985,000 9,985,000 - 9,985,000 - - 9,985,000 $ 34,450,000 $ 34,450,000 $ 6,316,252 $ 28,133,748 $ - $ 2,270,834 $ 25,862,914 27 The annual requirements to amortize all general obligation bonded debt and the EPA loan payable outstanding as of June 30, 1995, including interest payments of $12,532,131 on the general obligation debt, are as follows: General EPA Loan June 30, Obligation Payables Total 1996 $ 3,830,170 $ 20,834 $ 3,851,004 1997 2,782,938 20,834 2,803,772 1998 2,779,284 20,834 2,800,118 1999 2,780,416 20,834 2,801,250 2000 2,774,398 20,834 2,795,232 Thereafter 23,249,925 93,744 23,343,669 $ 38,197,131 $ 197,914 $ 38,395,045 The amount of $2,075,768 is available in the Debt Service Funds to service all general obligation bonds. There are a number of limitations and restrictions contained in the various bond indentures. The Borough is in compliance with all significant limitations and restrictions. NOTE 9: CAPITAL PROJECTS FUNDS CONSTRUCTION COMMITMENTS A summary of Capital Projects Funds construction commitments at June 30, 1995 follows: Various Borough Projects $ 1,154,395 School Bond Improvements 3,295,894 Hospital Bond improvements 13,938,396 $ 18,388,685 Resources are presently available or committed to finance construction commitments at June 30, 1995 for all funds OW 1 1 1 [l J 1 it 1 1i I t 1 NOTE 10: ENTERPRISE FUNDS SEGMENT INFORMATION The Borough owns and operates a Water and Sewer Utility Fund and a Municipal Solid Waste Collection and Disposal Fund. Segment financial data as of and for the year ended June 30, 1995 for those funds are as follows: NOTE 11:DEFERRED COMPENSATION PLANS Borough The Kodiak Island Borough has a deferred compensation plan created in accordance 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. Hospital The Hospital also has a Section 457 deferred compensation plan under which substantially all Hospital employees may elect to become participants. At the direction of the plan participants, the Hospital withholds the employees' contributions and deposits them with the plan trustee. The Hospital does not make contributions to this plan. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights are (until paid or made available to the employee or other beneficiary) solely the property and the right of the Borough (without being restricted to the provisions of benefits under the plan), subject only to the claims of the Borough's general creditors. Participants' rights under the plan are equal to those of general creditors of the Borough in an amount equal to the fair market value of the deferred account for each participant. The funds are managed by the International City Managers Association Retirement Corporation. The Borough has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The Borough believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. NOTE 12: MALPRACTICE INSURANCE AND RELATED LITIGATION During the period from January 1, 1990 to December 31, 1992, the Hospital was self - insured for medical malpractice claims up to a maximum of $500,000 per occurrence and $1,000,000 in aggregate. In addition, the Hospital purchased stop loss insurance for claims up to $3,000,000 per occurrence and $6,000,000 in aggregate. Effective January 1, 1993, the Hospital purchased a claims -made policy through a commercial insurance carrier with a retroactive date of January 1, 1987. The policy has coverage limits of $2,000,000 per loss event and $4,000,000 in aggregate. Under the policy, the Hospital retains the first $10,000 per loss event and $50,000 in aggregate. However, the Hospital has deposited $5,775 into a fund, which is held by a trustee, for use in funding these retention levels or as tail coverage for claims occurring prior to January 1, 1987. c Municipal Solid Waste Collection and Disposal Water Sewer Total Operating revenues $ 2,042,132 $ 456,419 $ 555,131 $ 3,053,682 Depreciation expense 107,750 109,653 197,065 414,468 Operating income (loss) 50,006 (26,388) (154,721) (131,103) Net income (loss) 50,288 (13,500) (141,833) (105,045) Amortization of contributions in aid of construction 76,805 109,645 196,590 383,040 Property, plant and equipment additions 184,368 - - 184,368 Net working capital (121,145) 242,953 235,276 357,084 Total assets 2,478,864 5,491,537 8,988,979 16,959,380 Total equity 1,837,301 5,423,085 8,930,387 16,190,773 NOTE 11:DEFERRED COMPENSATION PLANS Borough The Kodiak Island Borough has a deferred compensation plan created in accordance 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. Hospital The Hospital also has a Section 457 deferred compensation plan under which substantially all Hospital employees may elect to become participants. At the direction of the plan participants, the Hospital withholds the employees' contributions and deposits them with the plan trustee. The Hospital does not make contributions to this plan. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights are (until paid or made available to the employee or other beneficiary) solely the property and the right of the Borough (without being restricted to the provisions of benefits under the plan), subject only to the claims of the Borough's general creditors. Participants' rights under the plan are equal to those of general creditors of the Borough in an amount equal to the fair market value of the deferred account for each participant. The funds are managed by the International City Managers Association Retirement Corporation. The Borough has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The Borough believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. NOTE 12: MALPRACTICE INSURANCE AND RELATED LITIGATION During the period from January 1, 1990 to December 31, 1992, the Hospital was self - insured for medical malpractice claims up to a maximum of $500,000 per occurrence and $1,000,000 in aggregate. In addition, the Hospital purchased stop loss insurance for claims up to $3,000,000 per occurrence and $6,000,000 in aggregate. Effective January 1, 1993, the Hospital purchased a claims -made policy through a commercial insurance carrier with a retroactive date of January 1, 1987. The policy has coverage limits of $2,000,000 per loss event and $4,000,000 in aggregate. Under the policy, the Hospital retains the first $10,000 per loss event and $50,000 in aggregate. However, the Hospital has deposited $5,775 into a fund, which is held by a trustee, for use in funding these retention levels or as tail coverage for claims occurring prior to January 1, 1987. c Accordingly, claims based on occurrences prior to that At June 30, 1995, the Hospital has accrued $232,353 date, will be subject to this self - insurance coverage. for incidents that may have occurred and not been I identified by the Hospital. NOTE 13: INDIVIDUAL FUND DISCLOSURES Interfund Receivables and Pavables A summary of interfund receivables and payables at June 30, 1995 is as follows: General Fund Special Revenue Funds - Fire Protection Area No. 1 Womens Bay Fire Department Monashka Bay Road Service Area Service District No. 1 Womans Bay Service Area Mental Health Center Coastal Management Child Care Assistance Program Land Sales Building and Grounds Oil Spill Cleanup Debt Services Fund - Bonds Other Capital Project Funds - Various Borough Projects Hospital Bond Improvements State Capital Grants School Major Maintenance Enterprise Funds - Municipal Solid Waste Collection and Disposal Water Fund Component Unit - School District Payable $ 3,477,589 310,000 45,000 30,000 115,000 20,000 166,000 575,000 60,000 40,000 - 140,000 140,000 - 4,016,699 539,110 $ 5,517,699 $ 5,517,699 65,000 30,000 36,000 30,000 240,000 185,000 100,000 100,000 575,000 Fund Deficits The fund deficits at June 30, 1995 are as follows: Capital Projects Funds: State Capital Grants Special Revenue Funds: Coastal Management Buildings and Grounds Oil Spill Clean-up Enterprise Funds: Municipal Solid Waste Collection and Disposal Internal Service Funds: Data processing 12,088 22 46,780 25,486 9,911 $ 182,131 Management intends to fund the deficits in fiscal year 1995 through transfers from other funds. ka Transfers Interfund operating transfers and transfers from Funds are transferred from one fund to support component units have been made in accordance with expenditures of other funds in accordance with the budget ordinances with the exception of the transfer of authority established for the individual fund. Transfers the funding of long -term annual leave. between fund types and component units during the Fund Tvnes General Fund Special Revenue Funds Debt Service Funds Capital Projects Funds Internal Service Funds Schoot District Component Unit Total Transfers Excess of Expenditures Over Appropriations General Fund The following departments' expenditures exceeded their appropriations: Department Excess Borough Assembly $ 887 Economic Development 2,538 General Administration 862 $ 4,287 The following funds' expenditures exceeded their appropriations: Special Revenue Funds Proprietary Funds Fund Excess Fund Monashka Bay Road Service Area $ 1,677 Sewer Fund Service Area No. 2 116 Municipal Solid Waste Collection Land Sales 22,024 and Disposal Water Fund $ 23,817 Data Processing Excess $ 121,852 59,818 55,807 1,601 $ 239,078 31 year ended June 30, 1995, were as follows: Transfers In School Special Debt Capital Internal District Transfers General Revenue Service Projects Service Component Out Fund Funds Funds Funds Funds Unit $ 4,975,199 $ $ 203,415 $ 935,234 $ 332,000 $ 304,550 $ 3,200,000 671,258 - - 1,258 670,000 - - 1,642,844 5,666 - 1,637,178 - 100,000 - 100,000 - - 2,532,010 - - 2,532,010 - - - $ 9,921,311 $ - $ 209,081 $ 3,468,502 $ 2,739,178 $ 304,550 $ 3,200,000 Excess of Expenditures Over Appropriations General Fund The following departments' expenditures exceeded their appropriations: Department Excess Borough Assembly $ 887 Economic Development 2,538 General Administration 862 $ 4,287 The following funds' expenditures exceeded their appropriations: Special Revenue Funds Proprietary Funds Fund Excess Fund Monashka Bay Road Service Area $ 1,677 Sewer Fund Service Area No. 2 116 Municipal Solid Waste Collection Land Sales 22,024 and Disposal Water Fund $ 23,817 Data Processing Excess $ 121,852 59,818 55,807 1,601 $ 239,078 31 F Proprietary Funds' reconciliation of fund equity for the year ended June 30, 1995 is as follows: Enterprise Funds Munnicipal Solid Waste Collection Data and Disposal Water Sewer Processing Fund equity at beginning of year $ 1,787,013 $ 5,436,585 $ 9,072,220 $ 542,744 Net income (loss) 50,288 (13,500) (141,833) (13,206) Fund equity at end of year $ 1,837,301 $ 5,423,085 $ 8,930,387 $ 529,538 NOTE 14: SOLID WASTE LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS State and federal laws and regulations require that the Kodiak Island Borough place a final cover on its landfill when closed and perform certain maintenance years after closure. In addition to operating expenses related to current activities of the landfill, an expense provision and related liability are being recognized based on the future closure and postclosure care costs that will be incurred based on the date the landfill no longer accepts waste. The recognition of these landfill closure and postclosure care costs is based on the amount of the landfill used during the year. The estimated liability of landfill closure and postclosure care costs is $310,757 as of June 30, 1995, which is based on 21% usage (filled) of the landfill. Of the total liability at June 30, 1995, $29,308 was accrued in the current year based on current year usage. It is estimated that an additional $1,039,243 will be recognized as closure and postclosure care expenses between the date of the balance sheet and the date the landfill is expected to be filled to capacity. The estimated total current cost of the landfill closure and postclosure care of $1,350,000 is based on the amount that would be paid if the landfill were closed as of June 30, 1995. However, the actual cost of closure and postclosure care may be higher due to inflation, changes in technology, or changes in landfill laws and regulations. these requirements by annually recording the liability based on the estimates provided by the Kodiak Island Borough's environmental engineer. It is anticipated that future inflation costs and additional costs that might arise from changes in postclosure requirements, due to changes in technology or more rigorous environmental regulations, for example, will be financed primarily by charges to future landfill users and secondarily by taxpayers. NOTE 15: CONTINGENCIES Litigation General 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. In addition, management feels that all the material risks that the Borough is exposed to have been adequately insured via commercial insurance and the Hospital self insurance trust. Grants The Kodiak Island Borough is required by state and federal laws and regulations to make annual contributions to finance closure and postclosure care. The Kodiak Island Borough is in compliance with 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. 32 f 1 1 1 1 1 1 1 1 GENERAL FUND LI 1 The General Fund is used to account for resources traditionally associated with government which are not required legally or by sound financial management to be accounted for in any other fund. Principal sources of revenue are property taxes and intergovern- mental revenues. Primary expenditures are for general government and public service. KODIAK ISLAND BOROUGH GENERALFUND BALANCE SHEET AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT A -1 LIABILITIES AND FUND BALANCE LIABILITIES: Accounts payable 1995 1994 ASSETS 22,458 22,842 Equity in central treasury $ 15,043 $ 25,471 Temporary investments 6,292,435 6,798,485 Total cash and investments 6,307,478 6,823,956 RECEIVABLES: 3,606,001 4,791,604 Accounts receivable 258,735 50,681 State of Alaska 68,076 38,623 Property taxes: 3,422,870 2,375,653 Delinquent taxes 213,680 176,971 Allowance for uncollectible delinquent taxes (15,828) (15,828) Accrued interest receivable 131,730 92,854 Due from other funds 65,000 - Net receivables 721,393 343,301 $ 7,028,871 $ 7,167,257 LIABILITIES AND FUND BALANCE LIABILITIES: Accounts payable $ 87,719 $ 48,715 Payroll taxes and employee benefits 22,458 22,842 Due to other funds - 319,519 Other accrued liabilities 18,235 3,685 Due to component units 3,477,589 4,396,843 Total liabilities 3,606,001 4,791,604 FUND BALANCE: Unreserved - designated for subsequent year expenditures 3,422,870 2,375,653 Total fund balance 3,422,870 2,375,653 $ 7,028,871 $ 7,167,257 33 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT A -2 I 1995 Variance - Favorable 1994 Budget Actual (Unfavorable) Actual Revenues: 566,250 705,257 139,007 507,510 Property taxes: 6,750 7,784 1,034 3,305 Real $ 3,481,310 $ 3,479,273 $ (2,037) $ 2,699,552 Personal 674,375 677,705 3,330 509,371 Motor vehicle 160,000 166,651 6,651 163,344 Penalty and interest 103,000 142,015 39,015 118,808 Payments in Lieu of Taxes 456,200 450,805 (5,395) 430,014 Total property taxes 4,874,885 4,916,449 41,564 3,921,089 Severance taxes: Fish 566,250 705,257 139,007 507,510 Mining 6,750 7,784 1,034 3,305 Logging 256,250 347,424 91,174 258,814 Total severance taxes 829,250 1,060,465 231,215 769,629 Intergovernmental: 26,600 840,014 813,414 395,986 State sources: State Shared Revenue 340,000 322,732 (17,268) 399,010 Municipal Assistance 340,000 294,626 (45,374) 402,201 Raw Fish Tax 1,034,000 997,032 (36,968) 1,244,127 Electric co-op tax 8,000 11,547 3,547 9,275 Miscellaneous 500 144 (356) 192 Total State sources 1,722,500 1,626,081 (96,419) 2,054,805 Federal sources 6,700 7,081 381 8,413 Total intergovernmental revenue 1,729,200 1,633,162 (96,038) 2,063,218 Licenses, permits, fees and other local revenues Building and trailers 35,000 39,913 4,913 38,813 Subdivision and zoning fees 5,000 7,000 2,000 6,803 Sale of copies 2,050 2,440 390 2,428 Emergency medical services 33,000 38,712 5,712 13,864 Miscellaneous 26,600 840,014 813,414 395,986 Total licenses, permits, fees and other local sources 101,650 928,079 826,429 457,894 Investments and property: Interest income 470,000 659,794 189,794 291,047 Total investments and property 470,000 659,794 189,794 291,047 Total revenues $ 8,004,985 $ 9,197,949 $ 1,192,964 $ 7,502,877 continued 34 1 1 I' t E it 1 KODIAK ISLAND BOROUGH GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TO TALS FOR 1994 EXHIBIT A -2, continued 1995 Expenditures: Borough assembly Borough mayor Borough clerk Borough attorney Finance department Assessing department Borough engineering and facilities department Community development department Building official Economic development General administration Emergency preparedness School district support Health and sanitation department Education, culture and recreation Total expenditures Excess of revenues over expenditures Other financing sources (uses) Operating transfers in Operating transfers out Transfers to component units Net other financing uses Excess (deficiency) of revenues and transfers in over (under) expenditures and transfers out Fund balance at beginning of year Fund balance at end of year Variance- Favorable 1994 Budget Actual (Unfavorable) Actual $ 121,236 $ 122,123 $ (887) $ 147,423 201,480 198,660 2,820 185,593 280,250 268,945 11,305 239,279 241,000 233,877 7,123 220,847 519,210 515,638 3,572 607,632 312,920 302,409 10,511 287,405 38,710 - 38,710 115,043 429,310 396,356 32,954 390,882 84,500 54,957 29,543 82,138 110,000 112,538 (2,538) 60,914 312,250 313,112 (862) 362,117 10,300 2,358 7,942 9,906 94,500 92,627 1,873 115,695 408,650 408,433 217 385,430 153,500 153,500 - 133,000 3,317,816 3,175,533 142,283 3,343,304 4,687,169 6,022,416 1,335,247 4,159,573 - - - 4,759 (1,767,550) (1,775,199) (7,649) (624,000) (3,200,000) (3,200,000) - (3,200,000) (4,967,550) (4,975,199) (7,649) (3,819,241) $ (280,381) 1,047,217 $ 1,327,598 340,332 2,375,653 2,035,321 $ 3,422,870 $ 2,375,653 35 KODIAK ISLAND BOROUGH EXIMrr A -3 I GENERAL FUND SCHEDULE OF EXPENDITURES AND TRANSFERS BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Variance- Favorable 1994 Budget Actual (Unfavorable) Actual Expenditures: Borough assembly: Personnel services $ 16,800 $ 16,800 $ - $ 16,800 Fringe benefits 1,616 1,795 (179) 1,513 Support goods and services 54,720 46,181 8,539 73,654 Political lobbyist 48,100 57,347 (9,247) 55,456 ' Total 121,236 122,123 (887) 147,423 Borough mayor: ' Personnel services 116,500 115,417 1,083 107,726 Fringe benefits 35,590 35,494 96 33,998 Support goods and services 49,390 47,749 1,641 43,869 Total 201,480 198,660 2,820 185,593 Borough clerk: Personnel services 128,220 126,121 2,099 118,977 Fringe benefits 43,540 44,320 (780) 42,436 Support goods and services 95,190 90,033 5,157 76,485 Capital outlay 13,300 8,471 4,829 1,381 Total 280,250 268,945 11,305 239,279 Borough attorney: Legal fees 200,000 181,043 18,957 156,531 Support goods and services 41,000 52,834 (11,834) 64,316 Total 241,000 233,877 7,123 220,847 Finance department: Personnel services 356,720 347,486 9,234 316,156 Fringe benefits 113,210 108,991 4,219 101,159 Support goods and services 195,500 196,460 (960) 223,000 , Capital outlay 5,500 3,243 2,257 6,871 Allocated to projects (151,720) (140,542) (11,178) (39,554) Total 519,210 515,638 3,572 607,632 continued i 36 1 I KODIAK ISLAND BOROUGH EXHIBIT A -3, continued ' GENERALFUND SCHEDULE OF EXPENDITURES AND TRANSFERS BUDGET AND A YEAR ENDED CTUAL JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Variance- Favorable 1994 Budget Actual (Unfavorable) Actual Assessing department: Personnel services $ 183,620 $ 178,980 $ 4,640 $ 156,989 Fringe benefits 61,200 55,540 5,660 47,956 Contracted services 67,600 67,889 (289) Support goods and services - - - 79,808 Capital outlay 500 - 500 2,652 Total 312,920 302,409 10,511 287,405 Borough engineering and facilities department: Personnel services 177,310 94,655 82,655 211,481 Fringe benefits 57,810 31,145 26,665 71,733 Contracted services 8,500 7,884 616 2,860 Support goods and services 59,840 63,951 (4,111) 37,879 Capital outlay 5,250 4,624 626 1,219 Allocated to projects (270,000) (202,259) (67,741) (210,129) Total 38,710 - 38,710 115,043 Community development department: Personnel services 285,580 276,735 8,845 278,174 Fringe benefits 103,920 89,559 14,361 93,841 Contracted services 4,000 3,825 175 - Support goods and services 83,410 82,154 1,256 58,651 Capital outlay Allocated to Total 2,150 1,574 576 2,760 projects (49,750) (57,491) 7,741 (42,544) 429,310 396,356 32,954 390,882 Building official: Contracted services 78,000 54,731 23,269 79,960 Support good Total Economic devel s and services 6,500 226 6,274 2,178 84,500 54,957 29,543 82,138 opment: General servi Personnel ces: services 6,799 9,120 (2,321) 5,939 Fringe be Contracte nefits 201 935 (734) 590 d services 43,300 46,636 (3,336) 22,424 Support 1 37 goods and services 3,700 5,847 (2,147) 6,961 Contributions : Kodiak C hamber of Commerce 36,000 30,000 6,000 - Kodiak C onvention Bureau 20,000 20,000 25,000 Total 110,000 112,538 (2,538) 60,914 continued 1 37 KODIAK ISLAND BOROUGH GENERAL FUND SCHEDULE OF EXPENDITURES AND TRANSFERS BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT A -3, continued I 38 L .1 1 I fl 1995 Vanance- Favorable 1994 Budget Actual (Unfavorable) Actual General administration: Personnel services $ 40,990 $ 39,693 $ 1,297 $ 35,679 Fringe benefits 11,300 11,411 (111) 11,923 Professional fees 110,950 110,952 (2) 131,519 Support goods and services 149,010 151,056 (2,046) 170,842 Capital outlay - - - 12,154 Total 312,250 313,112 (862) 362,117 Emergency preparedness: Support goods and services 5,300 2,358 2,942 2,846 Capital outlay 5,000 - 5,000 7,060 Total 10,300 2,358 7,942 9,906 School district support: School support: Audit expense 32,100 29,993 2,107 92,538 Support goods and services 62,400 62,634 (234) 23,157 Total 94,500 92,627 1,873 115,695 Health and sanitation department: Emergency medical services 32,450 32,107 343 30,143 Animal control 48,000 48,000 - 48,000 Council on Alcoholism 145,000 145,000 - 40,787 State Health Services Villages 30,000 30,000 - - State Health Services KANA - - - 8,000 Women's Resource Crisis Center 34,700 34,700 - 29,700 American Red Cross 2,000 2,000 - 2,000 Alaska Borough attorney 4,000 4,000 - 2,000 Kodiak Baptist Mission 27,500 27,500 - 30,000 Small World (Day Care) 18,000 18,000 - 16,000 Special Olympics 6,000 6,000 - 6,000 Health Center Support 2,000 2,126 (126) 2,000 Senior Citizen Support 24,000 24,000 - 24,000 Kodiak Respite Care 5,000 5,000 - 3,000 Rainbow Child Care Center 2,500 2,500 - 2,000 Salvation Army 7,500 7,500 - 5,000 Brother Francis Shelter 20,000 20,000 - 20,000 Ambulance service - - - 116,800 Total 408,650 408,433 217 385,430 continued 38 L .1 1 I fl 1 f 1 J t 1 1 w KODIAK ISLAND BOROUGH EXHIBIT A -3, continued GENERAL FUND SCHEDULE OF EXPENDITURES AND TRANSFERS BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Other financing sources: Operating transfers in: Debt service: Other Total other financing sources Other financing uses: Operating transfers out: Special revenue funds: Mental Health Center Building and grounds Community and regional affairs Debt service fund: Schools Other Internal service fund: Data processing Capital projects fund: Various Borough projects Total operating transfers out Transfers to component units: School District Total other financing uses Net other financing uses Total expenditures and transfers - - 1995 4,759 - - - 4,759 anance- (200,000) (200,000) Favorable 1994 - Budget Actual (Unfavorable) Actual Education, culture and recreation: (3,415) - (924,000) (924,000) KIM Public Radio $ 12,000 $ 12,000 $ - $ 12,000 Historical Society 9,000 9,000 - 9,000 Summer basketball 4,000 4,000 - 4,000 Kodiak Island Sportsman Association 2,000 2,000 - 2,000 Kodiak Art Council 13,000 13,000 - 13,000 Village Libraries 18,000 18,000 - 18,000 Chiniak Public Library 3,000 3,000 - 3,000 City of Kodiak Library 3,000 3,000 - 3,000 Head Start 8,200 8,200 - 8,200 Kodiak College 34,000 34,000 - 34,000 Kodiak Little League 5,000 5,000 - 2,500 Santa to the Villages 2,300 2,300 - 2,300 Karluk IRA Council 20,000 20,000 - 20,000 KANA Youth Olympics 2,000 2,000 - - KANA Family Center 16,000 16,000 - - Alaska Future Leaders 2,000 2,000 - 2,000 Total 153,500 153,500 - 133,000 Total expenditures 3,317,816 3,175,533 142,283 3,343,304 Other financing sources: Operating transfers in: Debt service: Other Total other financing sources Other financing uses: Operating transfers out: Special revenue funds: Mental Health Center Building and grounds Community and regional affairs Debt service fund: Schools Other Internal service fund: Data processing Capital projects fund: Various Borough projects Total operating transfers out Transfers to component units: School District Total other financing uses Net other financing uses Total expenditures and transfers - - - 4,759 - - - 4,759 (200,000) (200,000) - (245,000) - - - (50,000) - (3,415) (3,415) - (924,000) (924,000) - - (9,000) (11,234) (2,234) (9,000) (302,550) (304,550) (2,000) (250,000) (332,000) (332,000) - (70,000) (1,767,550) (1,775,199) (7,649) (624,000) (3,200,000) (3,200,000) - (3,200,000) (4,967,550) (4,975,199) (7,649) (3,824,000) (4,967,550) (4,975,199) (7,649) (3,819,241) $ 8,285,366 $ 8,150,732 $ (134,634) $ 7,162,545 39 1 1 1 J I SPECIAL REVENUE FUNDS Special Revenue Funds are used to account for revenues from specific sources which by law are restricted to finance particular func- tions and activities. 1 i L KODIAK ISLAND BOROUGH SPECIAL REVENUE FUNDS 4 COMBINING BALANCE SHEET AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 i 1 Fire and Road Service Districts ue Road ue omens MonashkaBay Service Womens bay View Service Protection Bay Fire Road Service District Bay Service Road Service Area Area No. 1 Department Area No. 1 Area Area No. 2 ASSETS Equity in central treasury $ 20,312 $ 29,440 $ 14,505 $ 8,861 $ 9,392 $ 2,415 $ 2,970 Temporary investments 375,448 - - - - - ; Receivables: State of Alaska Land sales contract, due within one year Accrued interest - 9,149 - - - - Other 9,438 1,482 425 4,764 2,480 190 Allowance for doubtful receivables - - ¢¢ Due from other funds 30,000 36,000 30,000 240,000 185,000 4 Prepaid expenditures - - - - Land sale contracts, due after one year - - - _ $ 444,347 $ 66,922 $ 44,930 $ 253,625 $ 196,872 $ 2,605 $ 2,970 LIABILITIES AND FUND BALANCES i LIABILITIES: Accounts payable $ 878 $ 7,952 $ 5,848 $ 16,681 $ 6,380 $ $ Employee benefits accrued and withheld 1,849 - - - - Customer deposits - 275 Deferred and unrealized revenues - Due to other funds - - - - Total liabilities 2,727 8,227 5,848 16,681 6,380 f FUND BALANCES: Reserved: Prepaid expenses - - - - - i Unreserved: Undesignated 441,620 58,695 39,082 236,944 190,492 2,605 2,970 Total fund balances 441,620 58,695 39,082 236,944 190,492 2,605 2,970 $ 444,347 $ 66,922 $ 44,930 $ 253,625 $ 196,872 $ 2,605 $ 2,970 1 i i i 1� { i I j 42 � '. � I �1 i I EXHIBIT B -1 $ 3,705 $ 3,233 $ 3,945 $ Federal and $ 3,831 $ 24,178 $ $ 20,513 $ State Grant Programs $ 687,416 Woodland 210,310 Mental Child Care Buildings Acres Street Community & Totals 585,758 Health Coastal Assistance and Light Service Regional Oil Spill 47,431 Center Management Program Land Sales Grounds Area Affairs Cleanup 1995 1994 $ 3,705 $ 3,233 $ 3,945 $ 201 $ 3,831 $ 24,178 $ $ 20,513 $ 147,501 $ 687,416 210,310 _ 585,758 1,058,155 47,670 47,431 61,312 - 156,413 122,433 - - - 164,700 164,700 289,000 - - - 9,149 11,494 396,903 224 20,001 435,907 517,878 (100,000) (25,000) - - (125,000) (125,000) - 100,000 621,000 308,500 817 - - - 734,992 - 817 734,992 241 812,301 $ 349,095 $ 50,664 $ 65,257 $ 1,085,203 $ 3,831 $ 24,402 $ $ 140,514 $ 2,731,237 $ 1682,418 $ 13,240 $ 5,686 $ 29,363 $ 21,144 $ 30,628 $ 426 $ $ - 138,226 $ 241,394 16,722 18,571 2,300 2,249 967 (17) 3,474 6 6,644 899,692 899,692 1,101,302 00 45,000 30,000 115,000 20,000 166,000 68600 293,500 342,211 50,686 59,363 1,036,803 50,611 426 166,000 1,745,963 1,663,140 6,884 (22) 5,894 48,400 (46,780) 23,976 (25,486) 985,274 2,019,278 6,884 (22) 5,894 48,400 (46,780) 23,976 (25,486) 985,274 2,019,278 ' $ 349,095 $ 50,664 $ 65,257 $ 1,085,203 $ 3,831 $ 24,402 $ $ 140,514 $ 2,731,237 $ 3,682,418 � I 1 43 KODIAK ISLAND BOROUGH SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS F OR 1994 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 General administration Health and sanitation Oil spill cleanup Capital outlay: Services district maintenance General Total expenditures Excess (deficiency) of revenues over(under) expenditures Operating transfers in Operating transfers out Net operating transfers Excess (deficiency) of revenues and operating transfers in over (under) expenditures and operating transfers out Fund balance begimung of year Fund balance at end of year 6,000 9,129 - - 10,000 16,198 3,097 2,452 13,793 10,710 211 237,214 57,561 22,770 105,454 98,377 5,654 152,263 35,526 0 1 I 23,007 95,973 84,045 5,234 116 152,263 35,526 23,007 95,973 84,045 5,234 116 84,951 22,035 (237) 9,481 14,332 420 (116) (1,258) (1,258) 83,693 Fire and Road Service Districts ue Road (237) 9,481 14,332 420 (116) 357,927 36,660 Bay rew Service ue Womens onas ay ennce Womens Protection Bay Fire Road Service District Bay Service Road Service Area Area No. 1 Department Area No. 1 Area Area No. 2 $ 194,178 $ 41,376 $ 17,996 $ 77,403 $ 66,099 $ 4,525 $ 18,525 3,959 2,322 11,174 11,568 918 2,313 - 3,084 - - 6,000 9,129 - - 10,000 16,198 3,097 2,452 13,793 10,710 211 237,214 57,561 22,770 105,454 98,377 5,654 152,263 35,526 0 1 I 23,007 95,973 84,045 5,234 116 152,263 35,526 23,007 95,973 84,045 5,234 116 84,951 22,035 (237) 9,481 14,332 420 (116) (1,258) (1,258) 83,693 22,035 (237) 9,481 14,332 420 (116) 357,927 36,660 39,319 227,463 176,160 2,185 3,086 $ 441,620 $ 58,695 $ 39,082 $ 236,944 $ 190,492 $ 2,605 $ 2,970 1 1 44 1 EXHIBIT B -2 State Grant Programs . 58,550 - - 58,550 57,150 Woodland - - - Mental 473,894 Child Care Buildings Acres Street Community & Totals 1,669,987 Health Coastal Assistance - and Light Service Regional Oil Spill 1,991,125 1,888,559 Center Management Program Land Sales Grounds Area Affairs Cleanup 1995 1994 $ - $ - $ - $ $ $ 11,333 $ $ $ 412,910 $ 516,124 557,957 58,548 320,828 133,554 185 985,984 997,572 - - - 5,319 - L 5,397 5,534 - 378,816 473,894 276,692 _ 21,414 3,325,142 276,692 506,938 615,622 39,001 - 679,752 697,533 34,112 (2) (310) 16,660 294,126 1,221 392,580 349,663 1,207,691 58,548 320,828 332,353 294,126 12,739 95 2,753,315 3,073,364 L� 1 45 . 58,550 - - 58,550 57,150 - - - 373,497 473,894 5,179 1,040,359 868,497 1,669,987 321,138 - - - - 1,991,125 1,888,559 - - - - _ - - 21,414 21,414 34,637 208,375 133,554 5,319 5,319 12,030 L 1,669,987 58,550 321,138 378,816 473,894 5,179 _ 21,414 3,325,142 2,994,427 (462,296) (2) (310) (46,463) (179,768) 7,560 (21,414) (571,827) 78,937 204,476 - - 1,095 95 - 3,415 209,081 296,030 (670,000) (671,258) (309,635) 204,476 (668,905) 95 3 (462,177) (13,605) 257,820 2 310 715,368 179,673 7,560 3,415 21,414 1,034,004 65,332 264,704 (20) 6,204 763,768 132,893 16,416 (3,415) (4,072) 2,019,278 1,953,946 $ 6,884 $ (22) $ 5,894 $ 48,400 $ (46380) $ 23,976 $ $ 985,274 $ 2,019,278 i-2-54-8-61 L� 1 45 1 KODIAK ISLAND BOROUGH EXHIBIT B -3 I SPECIAL REVENUE FUNDS FIRE AND ROAD SERVICE DISTRICTS -FIRE PROTECTION AREA NO. 1 STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Revenues: Property taxes State sources - Shared revenue Federal sources - Payment in lieu of taxes Licenses, permits, fees and other local revenues Investments and property Total revenues Expenditures: General administration: Fire chief Volunteers Fringe benefits Contracted services Support goods and services Capital outlay Depreciation Total expenditures Excess (deficiency) of revenues over (under) expenditures Operating transfers out - Debt service fund Excess (deficiency) of revenues over (under) expenditures and operating transfers out Fund balance at beginning of year 72,600 1995 (223) 69,553 12,000 8,130 Variance- 8,752 21,720 22,471 Favorable 1994 Budget Actual (Unfavorable) Actual $ 192,500 $ 194,178 $ 1,678 $ 184,729 3,000 18,525 15,525 20,749 2,500 2,313 (187) 2,372 6,000 6,000 - 6,000 3,000 16,198 13,198 14,719 207,000 237,214 30,214 228,569 72,600 72,823 (223) 69,553 12,000 8,130 3,870 8,752 21,720 22,471 (751) 22,971 4,000 - 4,000 - 314,600 45,304 269,296 44,091 10,000 3,535 6,465 10,512 12,400 - 12,400 - 447,320 152,263 295,057 155,879 (240,320) 84,951 325,271 72,690 (1,258) (1,258) (3,620) $ (240,320) 83,693 $ 324,013 69,070 357,927 288,857 0 i Fund balance at end of year $ 441,620 $ 357,927 I M. t KODIAK ISLAND BOROUGH EXHIBIT B -4 SPECIAL REVENUE FUNDS FIRE AND ROAD SERVICE DISTRICTS - WOMENS BAY FIRE DEPARTMENT STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Revenues: Property taxes State sources: Shared revenue Grant Licenses, permits, fees and other local revenues Investments and property Total revenues Expenditures: General administration: Personnel services Contracted services Fringe benefits Support goods and services Capital outlay Total expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance at beginning of year Fund balance at end of year 600 1995 600 - 300 300 Variance - - 8,200 1,446 Favorable 1994 Budget Actual (Unfavorable) Actual 3,960 2,925 1,035 $ 37,500 $ 41,376 $ 3,876 $ 39,005 1,000 647 (353) 749 - 3,312 3,312 - 8,500 9,129 629 6,850 - 3,097 3,097 - 47,000 57,561 10,561 46,604 600 - 600 - 300 300 - - 8,200 1,446 6,754 6,931 40,940 30,855 10,085 29,461 3,960 2,925 1,035 5,632 54,000 35,526 18,474 42,024 $ (7,000) 22,035 $ 29,035 4,580 36,660 32,080 $ 58,695 $ 36,660 47 KODIAK ISLAND BOROUGH EXHIBIT B -5 SPECIAL REVENUE FUNDS FIRE AND ROAD SERVICE DISTRICTS- MONASHKA BAY ROAD SERVICE AREA STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Expenditures: Capital outlay: Service district maintenance: Personnel services Snow removal/sanding Road grading/ditching Repairs and maintenance Support goods and services Total expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance at beginning of year Fund balance at end of year 900 262 1995 229 10,000 9,163 837 6,223 Variance - 9,459 (2,459) 5,742 2,700 Favorable 1994 - Budget Actual (Unfavorable) Actual Revenues: 23,007 (1,677) 12,154 Property taxes $ 18,060 $ 17,996 $ (64) $ 22,720 State sources - Shared revenue 2,000 2,322 322 2,709 Investments and property 1,270 2,452 1,182 - Total revenues 21,330 22,770 1,440 25,429 Expenditures: Capital outlay: Service district maintenance: Personnel services Snow removal/sanding Road grading/ditching Repairs and maintenance Support goods and services Total expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance at beginning of year Fund balance at end of year 900 262 638 229 10,000 9,163 837 6,223 7,000 9,459 (2,459) 5,742 2,700 3,405 (705) - 730 718 12 (40) 21,330 23,007 (1,677) 12,154 $ - (237) $ (237) 13,275 39,319 $ 39,082 26,044 $ 39,319 I KODIAK ISLAND BOROUGH EXHIBIT B -6 i. SPECIAL REVENUE FUNDS FIRE AND ROAD SERVICE DISTRICTS - SERVICE DISTRICT NO. 1 STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS ' AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL ' YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 ' Variance- Favorable 1994 Budget Actual (Unfavorable) Actual ' Revenues: Property taxes $ 76,600 $ 77,403 $ 803 $ 172,447 ' State sources - Shared Revenue Federal sources - Payment in lieu of taxes 11,000 3,270 11,174 3,084 174 (186) 11,170 3,162 Investments and property 1,000 13,793 12,793 ' Total revenues 91,870 105,454 13,584 186,779 Expenditures: Capital outlay: ' Service district maintenance: Personnel services 4,670 3,914 756 4,601 Repairs and maintenance Snow removal/sanding - 94,000 10,171 63,782 (10,171) 30,218 64 26,930 Road grading/ditching 40,000 13,823 26,177 15,990 Support goods and services 1,300 4,283 (2,983) 855 ' Total 139,970 95,973 43,997 48,440 expenditures Excess (deficiency) of revenues ' over (under) expenditures $ (48,100) 9,481 $ 57,581 138,339 Fund balance at beginning of year 227,463 89,124 Fund balance at end of year $ 236,944 $ 227,463 i. KODIAK ISLAND BOROUGH EXHIBIT B -7 SPECIAL REVENUE FUNDS FIRE AND ROAD SERVICE DISTRICTS - WOMENS BAY SERVICE AREA STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Revenues: Property taxes State sources - Shared revenue Disaster relief Licenses, permits, fees and other local revenues Other Total revenues Expenditures: Capital outlay: Service district maintenance: Personnel services Snow removal/sanding Road grading/ditching Repairs and maintenance Service district maintenance Total expenditures Excess of revenues over expenditures Fund balance at beginning of year Fund balance at end of year 900 763 Variance - 1,354 46,895 46,891 Favorable 1994 Budget Actual (Unfavorable) Actual 18,264 12,779 5,485 38,966 $ 62,524 $ 66,099 $ 3,575 $ 78,124 14,000 11,321 (2,679) 13,209 - 247 247 - 20,000 10,000 (10,000) 10,000 - 10,710 10,710 - 96,524 98,377 1,853 101,333 900 763 137 1,354 46,895 46,891 4 17,388 17,764 20,363 (2,599) 9,184 18,264 12,779 5,485 38,966 12,701 3,249 9,452 62 96,524 84,045 12,479 66,954 $ - 14,332 $ 14,332 34,379 176,160 141,781 $ 190,492 $ 176,160 50 KODIAK ISLAND BOROUGH SPECIAL REVENUE FUNDS FIRE AND ROAD SERVICE DISTRICTS -BAY VIEW ROAD SERVICE AREA STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT B -8 Revenues: Property taxes State sources - Shared revenue Investments and property Total revenues Expenditures: Capital outlay: Service district maintenance: Personnel services Snow removal/sanding Road grading/ditching Repairs and maintenance Support goods and services Total expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance at beginning of year - 1995 (59) 363 2,400 3,292 Variance - 1,866 1,900 1,426 Favorable 1994 Budget Actual (Unfavorable) Actual $ 4,496 $ 4,525 $ 29 $ 4,015 1,081 918 (163) 1,081 $ - 211 211 (910) 5,577 5,654 77 5,096 - 59 (59) 363 2,400 3,292 (892) 1,866 1,900 1,426 474 3,777 1,177 302 875 - 100 155 (55) - 5,577 5,234 343 6,006 $ - 420 $ 420 (910) Fund balance at end of year $ 2,605 $ 2,185 51 KODIAK ISLAND BOROUGH EXHIBIT B -9 SPECIAL REVENUE FUNDS MENTAL HEALTH CENTER STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Variance - Favorable 1994 Budget Actual (Unfavorable) Actual Revenues: State sources: Health, Social and Community Services Program Division of Family and Youth Services Other Licenses, permits, fees and other local revenues: Net individual and organization user fees Investments and property: Rental fees Interest Total revenues Expenditures: Health and sanitation: Mental health program: Personnel services Travel Facility Supplies Equipment Capital outlay Other Total expenditures Deficiency of revenues under expenditures Operating transfers in Deficiency of revenues and operating transfer in under expenditures Fund balance at beginning of year Fund balance at end of year $ 557,880 $ 557,880 $ - $ 575,200 - 77 77 609 726,270 615,622 (110,648) 380,748 28,800 23,680 5,120 274,063 36,000 36,000 - 36,000 200 (1,888) (2,088) 21 1 1,207,691 (112,659) 1,266,641 1,430,560 1,341,343 89,217 1,213,053 23,000 19,797 3,203 37,076 90,500 87,093 3,407 77,545 28,800 23,680 5,120 20,831 12,500 12,298 202 11,468 9,500 9,402 98 28,234 182,105 176,374 5,731 185,626 1,776,965 1,669,987 106,978 1,573,833 (456,615) (462,296) (5,681) (307,192) 200,000 204,476 (4,476) 246,030 $ (256,615) (257,820) $ (1,205) (61,162) 264,704 325,866 $ 6,884 $ 264,704 52 7 KODIAK ISLAND BOROUGH EXHIBIT B -10 SPECIAL REVENUE FUNDS SERVICE AREA NO. 2 STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Variance - Favorable 1994 Budget Actual (Unfavorable) Actual Revenues: Property taxes $ - $ - $ - $ 3,086 Total revenues - - - 3,086 Expenditures: Capital outlay: Service district maintenance: - 116 (116) - Total expenditures - 116 (116) - Excess (deficiency) of revenues over (under) expenditures $ - (116) $ (116) 3,086 Fund balance at beginning of year 3,086 - Fund balance at end of year $ 2,970 $ 3,086 53 KODIAK ISLAND BOROUGH EXHIBIT B -11 SPECIAL REVENUE FUNDS COASTAL MANAGEMENT STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARA TOTALS FOR 1994 1995 Revenues: State sources - Grants Total revenues Expenditures: Community development department Planning and zoning Total expenditures Deficiency of revenues under expenditures Fund balance at beginning of year Fund balance at end of year Variance- Favorable 1994 Budget Actual (Unfavorable) Actual $ 58,550 $ 58,548 $ (2) $ 57,150 58,550 58,548 (2) 57,150 58,550 58,550 - 57,150 58,550 58,550 - 57,150 $ - (2) $ 2 - (20) $ (22) (20) $ (20) 54 KODIAK ISLAND BOROUGH SPECIAL REVENUE FUNDS CHILD CARE ASSISTANCE PROGRAM STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT B -12 Revenues: State sources - Grants Total revenues Expenditures: Health and sanitation: Day care payments Total expenditures Deficiency of revenues under expenditures Fund balance at beginning of year Fund balance at end of year 1995 Variance - Favorable 1994 Budget Actual (Unfavorable) Actual $ 333,102 $ 320,828 $ (12,274) $ 314,726 333,102 320,828 (12,274) 314,726 333,102 321,138 11,964 314,726 333,102 321,138 11,964 314,726 $ - (310) $ (310) - 6,204 6,204 $ 5,894 $ 6,204 55 KODIAK ISLAND BOROUGH EXHIBIT B -13 I SPECIAL REVENUE FUNDS LAND SALES STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Revenues: Land sale proceeds Licenses, permits, fees and other local revenues: Gravel sales Other Investment income Total revenues Expenditures: General administration: Personnel services Contracted services Support goods and services Capital outlay Allocated to projects Interest Total expenditures Excess of revenues over expenditures Operating transfers in - Debt service fund Operating transfers ou Capital projects fund Debt service fund Net operating transfers Excess (deficiency) of revenues and operating transfers in over (under) expenditures and operating transfers out Fund balance at beginning of year 130,200 1995 2,909 123,709 102,500 195,488 Variance - 37,496 90,592 51,648 Favorable 1994 Budget Actual (Unfavorable) Actual $ 426,597 $ 276,692 $ (149,905) $ 506,938 40,000 34,476 (5,524) 19,384 200 4,525 4,325 - 40,000 16,660 (23,340) - - 506,797 332,353 (174,444) 526,322 130,200 127,291 2,909 123,709 102,500 195,488 (92,988) 37,496 90,592 51,648 38,944 29,493 33,500 5,319 28,181 9,706 - (930) 930 - - - - 2,324 356,792 378,816 (22,024) 202,728 150,005 (46,463) (196,468) 323,594 - 1,095 1,095 - (670,000) (670,000) - (304,870) - - - (1,145) (670,000) (668,905) 1,095 (306,015) $ (519,995) (715,368) $ (195,373) 17,579 763,768 746,189 1-1 1 1 Fund balance at end of year $ 48,400 $ 763,768 W KODIAK ISLAND BOROUGH EXHIBIT B -14 SPECIAL REVENUE FUNDS BUILDINGS AND GROUNDS FUND STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Expenditures: 1995 General administration: Variance - School buildings 109,120 107,432 Favorable 1994 Borough building Budget Actual (Unfavorable) Actual Revenues: 52,968 50,391 2,577 33,962 Investments and property: 19,000 18,652 348 6,772 Rental $ 284,550 $ 294,126 $ 9,576 $ 292,410 Interest income 3,030 - (3,030) 6,513 Total revenues 287,580 294,126 6,546 298,923 Expenditures: General administration: School buildings 109,120 107,432 1,688 180,152 Borough building 336,029 297,419 38,610 251,149 Apartments 52,968 50,391 2,577 33,962 Parks operation and maintenance 19,000 18,652 348 6,772 Total expenditures 517,117 473,894 43,223 472,035 Deficiency of revenues under expenditures (229,537) (179,768) 49,769 (173,112) Operating transfers in - General fund - 95 95 50,000 Deficiency of revenues and operating transfers in under expenditures $ (229,537) (179,673) $ 49,864 (123,112) Fund balance at beginning of year 132,893 256,005 Fund balance at end of year $ (46,780) $ 132,893 57 KODIAK ISLAND BOROUGH EXHIBIT B -15 SPECIAL REVENUE FUNDS WOODLAND ACRES STREET LIGHT SERVICE AREA STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Revenues: Property taxes State sources - Shared revenue Investments and property Total revenues Expenditures: General administration: Personnel services Electricity Capital outlay Support goods and services Total expenditures Excess of revenues over expenditures Fund balance at beginning of year Fund balance at end of year - - Variance - 124 7,600 4,850 Favorable 1994 Budget Actual (Unfavorable) Actual $ 10,730 $ 11,333 $ 603 10,730 220 185 (35) 220 - 1,221 1,221 - 10,950 12,739 1,789 10,950 - - - 124 7,600 4,850 2,750 4,235 3,000 - 3,000 3,014 350 329 21 - 10,950 5,179 5,771 7,373 $ - 7,560 $ 7,560 3,577 16,416 12,839 $ 23,976 $ 16,416 58 KODIAK ISLAND BOROUGH EXHIBIT B -16 SPECIAL REVENUE FUNDS COMMUNITY AND REGIONAL AFFAIRS STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 59 Variance - Favorable 1994 Budget Actual (Unfavorable) Actual Revenues: Other $ - $ - $ - $ 488 Total revenues - - - 488 Expenditures: General administration: Support goods and services - - - 488 Total expenditures - - - 488 Excess (deficiency) of revenues over (under) expenditures - - - - Operating transfers in - 3,415 3,415 - Excess of revenues and operating transfers in over expenditures $ - 3,415 $ 3,415 - Fund balance at beginning of year (3,415) (3,415) Fund balance at end of year $ - $ (3,415) 59 KODIAK ISLAND BOROUGH EXHIBIT B -17 SPECIAL REVENUE FUNDS OIL SPILL CLEANUP SCHEDULE OF REVENUES, EXPENDITURES TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Project Project Project Variance - to Date to Date 1995 to Date Favorable Budget 1994 Actual 1995 (Unfavorable) Revenues: 113,309 (113,309) 2,262,600 Exxon reimbursements $ 2,000,000 $ 1,310,577 $ - $ 1,310,577 (689,423) State sources: Department of Environmental Conservation grants Department of Community and Regional Affairs grants Other sources 2,560,000 2,337,280 13,600 13,600 - 2,670 4,573,600 3,664,127 2,337,280 (222,720) Total revenues Expenditures: Oil spill cleanup: Personal services Fringe benefits Contracted services Support goods and services Capital outlay Legal fees Disbursements to villages Total expenditures Operating transfers in Deficiency of revenues and operating transfers in under expenditures Fund balance at beginning of year Fund balance at end of year 13,600 - 2,670 2,670 3,664,127 (909,473) 555,170 579,224 11,699 590,923 (35,753) 9,330 84,514 4,515 89,029 (79,699) - 113,053 256 113,309 (113,309) 2,262,600 1,563,074 4,944 1,568,018 694,582 - 30,373 - 30,373 (30,373) 10,000 169,806 - 169,806 (159,806) 1,936,500 1,139,695 - 1,139,695 796,805 4,773,600 3,679,739 21,414 3,701,153 1,072,447 - 11,540 - 11,540 11,540 $ (200,000) (4,072) (21,414) (25,486) $ 174,514 (4,072) - $ (4,072) $ (25,486) $ (25,486) , i 60 � 1 F1 �7 DEBT SERVICE FUNDS r] 11 Debt Service Funds are used to account for the payment of principal, interest and related fees on all bonded debt except for special assessment bonded debt accounted for in proprietary funds. KODIAK ISLAND BOROUGH EXHIBIT C -1 DEBT SERVICE FUNDS COMBINING BALANCE SHEET AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Bonds ASSETS Equity in central treasury Temporary investments Due from component unit - School District Due from State of Alaska Due from General Fund Accrued interest receivable LIABILITIES AND FUND BALANCES Other Totals 1995 1994 $ 2,656 $ 240,092 $ 242,748 $ 257,069 2,582,930 - 2,582,930 3,676,440 - - - 100,325 24,625 24,625 - - - - 300,000 40,784 - 40,784 32,991 $ 2,650,995 $ 240,092 $ 2,891,087 $ 4,366,825 Accounts payable $ 227 $ - $ 227 $ - Due to component unit - Hospital 575,000 - 575,000 - Total liabilities 575,227 - 575,227 - FUND BALANCES: Unreserved: Designated for subsequent year expenditures 2,075,768 240,092 2,315,860 4,366,825 $ 2,650,995 $ 240,092 $ 2,891,087 $ 4,366,825 61 F KODIAK ISLAND BOROUGH EXHIBIT C -2 I DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES TRANSFERS AND CHANGES IN FUND BALANCE YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Totals Bonds Other 1995 1994 Revenues: Investments and property: Interest income Expenditures: Debt service: Principle Interest Fiscal agent fees Other Total expenditures Deficiency of revenues under expenditures Other financing sources: Proceeds of general obligation bonds Transfer from component unit - School District Operating transfers in: General Fund Special revenue funds: Land sales Fire Service District Area 1 Total other financing sources Other financing uses: Operating transfers out: General Fund Special revenue funds: Mental Health Center Land sales Buildings and grounds Capital projects funds Total other financing uses Net other financing sources Excess (deficiency) of revenues and operating transfers in over (under) expenditures and operating transfers out Fund balance at beginning of year Fund balance at end of year 1 $ 155,824 $ - $ 155,824 $ 182,078 ' s 2,270,833 2,270,833 1,775,833 � 1,760,185 - 1,760,185 633,301 924,000 11,234 1,416 - 1,416 2,373 - 13 - 13 54,496 j - 4,032,447 - 4,032,447 2,466,003 (3,876,623) - (3,876,623) (2,283,925) 1 62 1 169,748 2,532,010 - 2,532,010 2,075,565 924,000 11,234 935,234 9,000 i - - - 1,145 j - 1,258 1,258 3,620 3,456,010 12,492 3,468,502 2,259,078 , I - I - - (4,759) - (4,476) (4,476) (1,030) - (1,095) (1,095) - - (95) (95) - (1,637,178) - (1,637,178) (1,675,000) (1,637,178) (5,666) (1,642,844) (1,680,789) � 1,818,832 6,826 1,825,658 578,289 I 1 (2,057,791) 6,826 (2,050,965) (1,705,636) 4,133,559 233,266 4,366,825 6,072,461 I $ 2,075,768 $ 240,092 $ 2,315,860 $ 4,366,825 62 1 KODIAK ISLAND BOROUGH DEBT SERVICE FUNDS BONDS STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT C -3 1995 Variance- Favorable 1994 Budget Actual (Unfavorable) Actual Revenues: Investments and property: Interest income Expenditures: Debt service: Principle Interest Fiscal agent fees Other Total expenditures Deficiency of revenues under expenditures Other financing sources (uses): Proceeds of general obligation bonds Transfer from component unit - School District Operating transfers in: General fund Operating transfers out: Capital projects fund Net other financing sources Deficiency of revenues and other financing sources under expenditures and other financing used Fund balance at beginning of year Fund balance at end of year 190,000 155,824 (34,176) 182,078 190,000 155,824 (34,176) 182,078 - - (1,637,178) 2,270,840 2,270,833 7 1,775,833 1,760,190 1,760,185 5 633,301 5,000 1,416 3,584 2,373 48,970 13 48,957 54,496 4,085,000 4,032,447 52,553 2,466,003 (3,895,000) (3,876,623) 18,377 (2,283,925) - - - 169,748 2,570,000 2,532,010 (37,990) 2,075,565 924,000 924,000 - - (1,637,178) (1,637,178) - (1,675,000) 1,856,822 1,818,832 (37,990) 570,313 $ (2,038,178) (2,057,791) $ (19,613) (1,713,612) 4,133,559 5,847,171 $ 2,075,768 $ 4,133,559 63 KODIAK ISLAND BOROUGH EXHIBIT C -4 ! DEBT SERVICE FUNDS OTHER STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Variance- Favorable 1994 Budget Actual (Unfavorable) Actual Expenditures: Termination reserve $ 9,000 $ - $ 9,000 $ - Total expenditures 9,000 - 9,000 - Operating transfers in: General fund Special revenue funds: Mental Health Center Land sales Fire Service Area No. 1 Total operating transfers in Operating transfers out: General fund Special revenue fund: Mental Health Center Land sales Buildings and grounds Total operating transfers out Net operating transfers 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 9,000 11,234 2,234 9,000 1 - - 1,145 - 1,258 1,258 3,620 9,000 12,492 3,492 13,765 4,759 - 4,476 (4,476) - 1,095 (1,095) - 95 (95) 1,030 - 5,666 (5,666) 5,789 9,000 6,826 (2,174) 7,976 $ - 6,826 $ 6,826 7,976 233,266 225,290 $ 240,092 $ 233,266 r- 1 L! 1 1 CAPITAL PROTECTS FUNDS Capital Projects Funds are used to account for general govern- ment capital projects financed by general obligation bond issues, intergovernmental grants, contributions from other funds and interest income, exclusive of projects financed by proprietary funds. 1 1 KODIAK ISLAND BOROUGH CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Various School Borough Bond Projects Improvements ASSETS Equity in central treasury Temporary investments Receivables: State of Alaska Federal Government Accrued interest Due from other funds Total assets LIABILITIES AND FUND BALANCES LIABILITIES: Accounts payable Retainages payable Deferred revenue Due to other funds Total liabilities FUND BALANCES: Reserved for encumbrances Unreserved: Designated for subsequent years expenditures Undesignated Total fund balance $ 172,173 $ 14,258 2,767,369 5,113,318 382,192 - 57,789 30,933 100,000 - $ 3,479,523 $ 5,158,509 $ 253,062 $ 1,108,757 179,249 360,133 432,311 1,468,890 1,154,395 3,295,894 1,892,817 393,725 3,047,212 3,689,619 $ 3,479,523 $ 5,158,509 .: EXHIBIT D -1 Hospital State School Bond Capital Major Totals Improvements Grants Maintenance 1995 1994 $ 179,307 $ 5,930 $ 6,523 $ 378,191 $ 992,237 6,991,957 - 2,916,358 17,789,002 21,961,894 - 80,659 - 80,659 56,283 - - - 382,192 815,472 72,923 - 28,797 190,442 190,873 575,000 - - 675,000 390,000 $ 7,819,187 $ 86,589 $ 2,951,678 $ 19,495,486 $ 24,406,759 $ 212,839 $ 367 $ - $ 1,575,025 $ 672,897 33,885 1,432 - 574,699 210,427 - 36,878 - 36,878 92,958 - 60,000 40,000 100,000 390,000 246,724 98,677 40,000 2,286,602 1,366,282 7,572,463 - 2,911,678 14,934,430 3,479,129 2,286,542 19,561,348 - (12,088) - (12,088) - 7,572,463 (12,088) 2,911,678 17,208,884 23,040,477 $ 7,819,187 $ 86,589 $ 2,951,678 $ 19,495,486 $ 24,406,759 67 KODIAK ISLAND BOROUGH CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND CHANGES IN FUND BALANCES YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 Revenues: State sources Federal sources Licenses, permits, fees and other local revenues Investments and property Total revenues Expenditures: Capital improvements: Schools General Total expenditures Excess (deficiency) of revenues over (under) expenditures Operating transfers in Bond proceeds Operating transfers out Net operating transfers Excess (deficiency) of revenues and operating transfers in over (under) expenditures and operating transfers out Fund balances at beginning of year Fund balances at end of year Various School Borough Bond Projects Improvements $ 31,746 $ - 1,078,865 - 59,568 - 64,300 294,746 1,234,479 294,746 1,893,437 5,951,516 490,436 - 2,383,873 5,951,516 (1,149,394) (5,656,770) 2,739,178 - 2,739,178 1,589,784 (5,656,770) 1,457,428 9,346,389 $ 3,047,212 $ 3,689,619 r- .: EXHIBIT D -2 Hospital State School (5,831,593) 18,284,636 Bond Capital Major Totals Improvements Grants Maintenance 1995 1994 $ - $ 638,571 $ - $ 670,317 $ 525,753 - - - 1,078,865 2,448,030 - - - 59,568 106,060 363,377 - 132,400 854,823 493,208 363,377 638,571 132,400 2,663,573 3,573,051 - 453,949 - 8,298,902 5,147,579 2,191,271 153,735 - 2,835,442 958,335 2,191,271 607,684 - 11,134,344 6,105,914 (1,827,894) 30,887 132,400 (8,470,771) (2,532,863) - - - 2,739,178 2,161,870 - - - - 18,767,629 - - (100,000) (100,000) (112,000) - - (100,000) 2,639,178 20,817,499 (1,827,894) 30,887 32,400 (5,831,593) 18,284,636 9,400,357 (42,975) 2,879,278 23,040,477 4,755,841 $ 7,572,463 $ (12,088) $ 2,911,678 $ 17,208,884 $ 23,040,477 .` KODIAK ISLAND BOROUGH J O CAPITAL PROJECTS FUNDS SCHEDULE OF CAPITAL PROJECTS FOR THE YEAR ENDED JUNE 30, 1995 EXHIBIT D -3 APPROPRIATIONS EXPENDITURES ENCUMBRANCES PROJECT TOTAL TOTAL UNEXPENDED CURRENT UNENCUMBERED NO. PROJECT STATUS PRIOR 1995 APPROPRIATIONS PRIOR 1995 EXPENDITURES BALANCE ENCUMBRANCES BALANCE M M M M M M MIN M M i MI M M M MM MM Capital Projects - Education: 2 410 -404 Work of Art - Auditorium Open S 33,090 $ - $ 33,090 S 18,500 S 4,500 $ 23,000 $ 10,090 S - S 10,090 6 410 -415 Asbestos Removal Program Open 75,000 - 75,000 63,471 - 63,471 11,529 - 11,529 23 410 -436 Ouanlde Roof Repair Complete 11,854 (11,854) - _ _ _ _ 28 410 -441 Old Harbor School Repair Complete 525,000 3,500 528,500 497,614 30,887 528,501 (1) - (l) 33 410 -446 High School Roof Maintenance Open 45,000 20,000 65,000 38,798 7,422 46,220 18,780 - 18,780 35 410 -448 Chiniak School Water System Open 20,000 25,000 45,000 16,421 3,265 19,686 25,314 - 25,314 67 410 -457 High School Alteration 111 Complete 2,162,324 (2,162,324) - - _ _ _ _ _ 70 410 -458 Peterson Elem/Fed Complete 3,740,690 - 3,740,690 2,661,824 1,078,866 3,740,690 - _ 77 410 -461 Jr. High Exterior Painting Open - 85,000 85,000 - 11,187 11,187 73,813 - 73,813 78 410 -462 High School Library Roof Open 35,000 - 35,000 - - - 35,000 - 35,000 80 410 -464 High School Parking Lot Repair Complete 5,000 5,000 2,645 2,355 5,000 - 84 410 -468 Ouardde Boiler Complete 170,000 (170,000) - - - - _ _ 39 420 -501 Peterson Elementary Open 580,000 - 580,000 257,821 297,939 555,760 24,240 - 24,240 41 420 -503 Landscaping - Port Lions Open 15,000 - 15,000 2,185 1,475 3,660 11,340 - 11,340 88 410 -472 High School Phase IV Open 750,000 889,419 1,639,419 191,556 563,394 754,950 884,469 1,154,395 (269,926) 90 430 -634 High School PhaseIV /Grant Complete 240,588 213,361 453,949 - 453,949 453,949 - - _ 93 420- 504Northstar Elementary Open 8,500,000 - 8,500,000 415,148 4,741,090 5,156,238 3,343,762 2,935,181 408,581 94 420 -505 Ouankie School Remodel Open 1,200,000 56,000 1,256,000 100,569 911,012 1,011,581 244,419 360,714 (116,295) 97 410 -474 Main Elementary HVAC Open - 125,000 125,000 - 119,114 119,114 5,886 - 5,886 99 410 -476 East Elem. Parking Lot Open - 20,000 20,000 - - - 20,000 - 20,000 100 410 -477 Main Elementary Steps Open 5,000 5,000 65 65 4,935 4,935 101 410 -478 Pool Regrout Complete - 60,000 60,000 - 67,266 67,266 (7,266) - (7,266) 104 410 -481 Auditorium ADA Audio Open 6,500 6,500 4,786 4,786 1,714 1,714 113 410 -641 Ouarilde School Remodel Open - 100,000 100,000 - 340 340 99,660 - 99,660 420 -500 Undesignated School Bond Open 10,000 10,000 10,000 10,000 Total Education 18,108,546 (725,398) 17,383,148 4,266,552 8,298,912 12,565,464 4,817,684 4,450,290 367,394 Capital Projects - Health: 1 410 -402 Hospital Site Work Complete 123,810 123,810 47,874 3,776 51,650 72,160 - 72,160 15 410 -428 Hospital Oil Spill Complete 190,200 (190,200) - - _ 83 410 -467 Hospital Computer Complete 35,000 - 35,000 20,715 14,285 35,000 430 -605 Hospital Design & Development Complete 1,000,000 (1,000,000) 75 410 -459 Hospital Boiler Replace Complete 2,000 (2,000) 92 430 -631 Hospital Repairs Complete 275,000 - 275,000 267,330 7,670 275,000 - - 95 425 -540 Hospital Remodel Open 9,500,000 300,000 9,800,000 46,874 2,191,271 2,238,145 7,561,855 13,938,396 (6,376,541) 107 410 -483 DOE Hospital Studies Open - - - - 3,800 3,800 (3,800) - (3,800) 111 410 -639 Hospital Construction Open 821,000 821,000 - 821,000 821,000 Total Health 11,126,010 (71,200) 11,054,810 382,793 2,220,802 2,603,595 8,451,215 13,938,396 (5,487,181) Capital Projects - Roads: 8 410 -418 Chiniak Subdivision Open 389,770 - 389,770 252,525 102,385 354,910 34,860 - 34,860 42 430 -601 Lakeside Improvement Complete 809,990 (809,990) - - - - _ 43 410 -455 Street Signs Open 20,000 10,000 30,000 19,671 19,671 10,329 10,329 74 410 -464 Anton Larsen Road Ext. Open 25,000 25,000 - 25,000 25,000 Total Roads 1,219,760 (774,990) 444,770 272,196 102,385 374,581 70,189 70,189 continued M M M M M M MIN M M i MI M M M MM MM mom KODIAK ISLAND BOROUGH CAPITAL PROJECTS FUNDS SCHEDULE OF CAPITAL PROJECTS FOR THE YEAR ENDED JUNE 30, 1995 EXHIBIT D- 3- continued APPROPRIATIONS EXPENDITURES ENCUMBRANCES PROJECT TOTAL TOTAL UNEXPENDED CURRENT UNENCUMBERED NO. PROJECT STATUS PRIOR 1995 APPROPRIATIONS PR10R 1995 EXPENDITURES BALANCE ENCUMBRANCES BALANCE Capital Projects - Other: 3 410 -406 Smokey's Clean Up Complete 266,000 150,000 416,000 266,896 149,104 416,000 11 410 -423 Drainage Plan Air Photos Open 31,050 (31,050) - - - - 12 410 -425 Dumpsler Pads Complete 24,500 (24,500) - - - - - - - 14 410 -427 New Computer Acquisition Complete 641,300 (641,300) - 16 410 -429 New Parks Open 110,000 (6,790) 103,210 34,290 5,632 39,922 63,288 - 63,288 61 410 -453 KIB Apts. Fire Code Upgrade Complete 154,000 (154,000) - - - - - - - 66 410 -456 Selief Lane Drainage Open 35,000 - 35,000 - - - 35,000 - 35,000 76 410 -460 KIB/Red Cross Upgrade Complete 70,146 (70,146) - - - - - - - 48 430 -607 Salome Creek Open 520,000 - 520,000 514,082 - 514,082 5,918 - 5,918 54 430 -613 Selief Lane /Von Scheele Way Open 75,000 75,000 - 75,000 75,000 73 430 -623 CAP Hangar 11 Complete 50,000 - 50,000 50,000 - 50,000 - - - 69 430 -620 Rural Development Assistance Complete 30,000 (30,000) - - - - 71 430 -621 Solid Waste Disposal Complete 200,000 - 200,000 196,446 3,554 200,000 - - - 72 430 -622 Bayside Fire Station Open 150,000 - 150,000 160 7,962 8,122 141,878 - 141,878 79 410 -463 Crab Analog Report Open 10,000 - 10,000 - - - 10,000 - 10,000 85 410 -471 Village Metals Removal Open 60,000 - 60,000 66 5,726 5,792 54,208 - 54,208 86 410 -470 KIB Oil Tank Replacement Open 100,000 - 100,000 66,996 13,941 80,937 19,063 - 19,063 87 430 -632 Community Support Facility Open 350,000 - 350,000 - 109,142 109,142 240,858 - 240,858 89 430- 633 DHSS/Planning Grant Open 40,000 - 40,000 632 4,039 4,671 35,329 35,329 96 410 -473 Kodiak Clean Lakes Grant Open - 24,000 24,000 - 29,846 29,846 (5,846) - (5,846) J 98 410 -475 Borough Bldg. Parking Lot Open - 20,000 20,000 - 115 115 19,885 - 19,885 105 410 -479 KIB Telephone System Open 100,000 100,000 97,987 97,987 2,013 2,013 105 410 -482 Anton Larsen Dock Open - 70,000 70,000 - 2,163 2,163 67,837 - 67,837 106 420 -635 RDA Mini-Grant Open - 25,000 25,000 - 21,368 21,368 3,632 - 3,632 109 410 -637 Fisheries Development Open 50,000 50,000 - - 50,000 50,000 110 410 -638 KIB Recreation Facilities Open - 400,000 400,000 - 61,037 61,037 338,963 - 338,963 112 410 -640 Russian River Drum Removal Open 30,000 30,000 639 639 29,361 29,361 410- State Airport Improvements Open 7,000 7,000 7,000 7,000 Total- Capital Projects Other 2,916,996 (81,786) 2,835,210 1,129,568 512,255 1,641,823 1,193,387 1,193,387 Total All Capital Projects $ 33,371,312 S (1,653,374) $ 31,717,938 $ 6,051,109 $ 1 1 354 $ 1 S 14,532,4 S 1"8388 68 S ( 3,856,211) Capital Projects - Utilities: 60 550 -751 Project 89 -X Open 425,249 - 425,249 187,458 21,247 208,705 216,544 - 216,544 65 550 -752 SpruceCape Water Replace Open 65,000 65,000 3,356 - 3,356 61,644 61,644 68 550 -753 Cold Weather Training Constr. Complete 705,000 (705,000) - - - 550- Otmeloi Water and Sewer Open 120,000 120,000 120,000 120,000 Total Utility Projects 1,195,249 (585,000) 610,249 190,814 21,247 212,061 398,188 - 398,188 Total Capital/Utility Projects S 3466 5611 S (2,238,374) S 32,328,18 S 6,241,923 $ 11,155,601 $ 17,397,524 $ 14,930,663 $ 18,388,686 S (3,458,023) Ll 1 1 I 1 ENTERPRISE FUNDS i� 1 u Enterprise Funds are used to account for Borough operations that are financed and operated in a manner similar to private business enterprises. The intent of the Borough is that the costs (expenses, including depreciation) of providing these services to the general public on a continuing basis are financed or recovered primarily through user charges. 1 KODIAK ISLAND BOROUGH I ENTERPRISE FUNDS 2,495,762 6,012,160 10,211,885 18,719,807 18,605,417 COMBINING BALANCE SHEET 394,330 - 3,172 397,502 327,525 AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 2,890,092 6,012,160 10,215,057 19,117,309 18,932,942 Less accumulated depreciation (620,889) Municipal (1,881,970) (3,696,911) (3,282,443) Net fixed assets 2,269,203 Solid Waste 8,333,087 15,420,398 15,650,499 Total assets $ 2,478,864 Collection and 8,988,979 $16,959,380 Totals ' Disposal Water Sewer 1995 1994 ASSETS CURRENT ASSETS: Equity in central treasury $ 6,292 $ 137,530 $ 244,123 $ 387,945 $ 282,612 Customer receivables 203,369 40,776 69,408 313,553 337,905 Less allowance for doubtful accounts - (6,901) (19,663) (26,564) (26,564) Net customer receivables 203,369 33,875 49,745 286,989 311,341 Due from other funds - 140,000 - 140,000 240,000 Total current assets 209,661 311,405 293,868 814,934 833,953 Restricted assets: Equity in central treasury - 99,137 99,137 198,274 126,828 Temporary investments - 262,887 262,887 525,774 500,000 Total restricted assets - 362,024 362,024 724,048 626,828 Fixed assets: Unclassified utility plant in service 2,495,762 6,012,160 10,211,885 18,719,807 18,605,417 Equipment 394,330 - 3,172 397,502 327,525 2,890,092 6,012,160 10,215,057 19,117,309 18,932,942 Less accumulated depreciation (620,889) (1,194,052) (1,881,970) (3,696,911) (3,282,443) Net fixed assets 2,269,203 4,818,108 8,333,087 15,420,398 15,650,499 Total assets $ 2,478,864 $ 5,491,537 $ 8,988,979 $16,959,380 $17,111,280 J 74 ' EXHIBIT E -1 Municipal Solid Waste Collection and Totals Disposal Water Sewer 1995 1994 LIABILITIES AND FUND EQUITIES CURRENT LIABILITIES: Accounts payable Accrued compensation Customer deposits Due to City of Kodiak Due to other funds Total current liabilities Accrued landfill closure and postclosure costs Total liabilities FUND EQUITIES: Contributions in aid of construction: City of Kodiak State of Alaska Federal Government Other Accumulated amortization Net contributions in aid of construction Retained earnings, unreserved Total fund equities $ 169,170 $ 32,569 $ 50,407 $ 252,146 $ 249,750 20,936 - - 20,936 15,353 700 26,858 - 27,558 18,900 - 9,025 8,185 17,210 10,010 140,000 - - 140,000 240,000 330,806 68,452 58,592 457,850 534,013 310,757 - - 310,757 281,449 641,563 68,452 58,592 768,607 815,462 - 189,166 40,000 229,166 229,166 2,412,453 5,482,630 9,630,603 17,525,686 17,525,686 - 277,135 209,554 486,689 486,689 19,990 28,562 297,133 345,685 345,685 2,432,443 5,977,493 10,177,290 18,587,226 18,587,226 (585,231) (1,193,982) (1,880,176) (3,659,389) (3,276,349) 1,847,212 4,783,511 8,297,114 14,927,837 15,310,877 (9,911) 639,574 633,273 1,262,936 984,941 1,837,301 5,423,085 8,930,387 16,190,773 16,295,818 Total liabilities and fund equities $ 2,478,864 $ 5,491,537 $ 8,988,979 $16,959,380 $17,111,280 75 KODIAK ISLAND BOROUGH ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND CHANGES IN RETAINED EARNINGS YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT E -2 I , Municipal Solid Waste ' Collection and Totals Disposal Water Sewer 1995 1994 Operating revenues: Water sales $ - $ 449,817 $ - $ 449,817 $ 424,457 Sewer service charges - - 551,272 551,272 525,345 Solid waste collection 1,205,065 - - 1,205,065 1,193,712 Solid waste disposal 819,630 - - 819,630 434,098 Installation charges - 1,352 - 1,352 852 Other 17,437 2,042,132 5,250 3,859 26,546 27,222 456,419 555,131 3,053,682 2,605,686 Operating expenses: Personnel services 350,763 8,612 5,645 365,020 337,031 Solid waste collection 1,079,015 - - 1,079,015 1,050,821 Purchased water and sewer treatment - 328,913 417,845 746,758 721,741 Contracted services 242,163 - - 242,163 48,542 Repairs and maintenance 25,884 4,750 33,526 64,160 91,602 Landfill closure and postclosure costs 29,308 - - 29,308 28,454 Depreciation Supplies 107,750 - 109,653 749 197,065 1,288 414,468 2,037 387,973 1,440 General administrative 143,830 19,507 43,860 207,197 153,104 Capital outlay 13,413 10,623 10,623 34,659 159,399 Allocated to projects - - - - (11,418) 1,992,126 482,807 709,852 3,184,785 2,968,689 Operating income (loss) 50,006 (26,388) (154,721) (131,103) (363,003) ' Other income: Interest income 282 12,888 12,888 26,058 23,364 Loss before cumulative effect of adoption ofGASB 18 50,288 (13,500) (141,833) (105,045) (339,639) Cumulative effect of adoption of GASB 18 - - - - (252,995) Net income (loss) 50,288 (13,500) (141,833) (105,045) (592,634) Amortization of contributions in aid of construction 76,805 109,645 196,590 383,040 383,040 Increase (decrease) in retained earnings 127,093 96,145 54,757 277,995 (209,594) Retained earnings at beginning of year (137,004) 543,429 578,516 984,941 1,194,535 Retained earnings at end of year $ (9,911) $ 639,574 $ 633,273 $ 1,262,936 $ 984,941 r � 76 1 1 � I KODIAK ISLAND BOROUGH ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT E -3 Municipal Solid Waste Collection and Totals Disposal Water Sewer 1995 1994 Operating income (loss) $ 50,006 $ (26,388) $ (154,721) $ (131,103) $ (363,003) Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation 107,750 109,653 197,065 414,468 387,974 Provision for landfill closure and postclosure costs 29,308 - - 29,308 28,454 Loss on sale of assets - - - - 2,690 Changes in assets and liabilities: Customer receivables 24,879 2,746 (3,273) 24,352 (71,594) Due to /from other funds (100,000) (140,000) 240,000 - (9,000) Accounts payable 65,051 (35,502) (27,152) 2,397 91,552 Customer deposits - 8,658 - 8,658 (9,265) Due to the City of Kodiak - 3,600 3 7,200 (30,290) Deferred revenue - - - - (121,290) Other accrued liabilities 5,583 - - 5,583 (14,326) Total adjustments 132,571 (50,845) 410,240 491,966 254,905 Net cash provided by (used for) operating activities 182,577 (77,233) 255,519 360,863 (108,098) Cash flows from capital and related financing activities: Acquisition and construction of capital assets (184,368) - - (184,368) (60,899) Proceeds from sale of equipment - - - - 7,972 Receipt of gifts restricted by donor for capital purchases - - - - 31,220 Net cash used for capital and related fmancing activities (184,368) - - (184,368) (21,707) Cash flows from investing activities: Change in assets whose use is limited: Interest and dividends on investments 282 12,888 12,888 26,058 23,364 Net cash provided by investing activities 282 12,888 12,888 26,058 23,364 Net change in cash and cash equivalents (1,509) (64,345) 268,407 202,553 (106,441) Cash and cash equivalents at beginning of year 7,801 563,899 337,740 909,440 1,015,881 Cash and cash equivalents at end of year $ 6,292 $ 499,554 $ 606,147 $ 1,111,993 $ 909,440 77 1 KODIAK ISLAND BOROUGH MUNICIPAL SOLID WASTE COLLECTION AND DISPOSAL FUND BALANCESHEET AS OF JUNE 30, 1995 WITH COMPARATI TOTALS FOR 1994 EXHIBIT E -4 I 1995 1994 ASSETS Current assets: Equity in central treasury $ 6,292 $ 7,801 Customer receivables 203,369 228,248 Total current assets 209,661 236,049 Fixed assets: Unclassified utility plant in service 2,495,762 2,381,371 Equipment 394,330 324,353 2,890,092 2,705,724 Less accumulated depreciation (620,889) (513,139) Net fixed assets 2,269,203 2,192,585 $ 2,478,864 $ 2,428,634 LIABILITIES AND FUND EQUITY Current liabilities: Accounts payable $ 169,170 $ 104,119 Accrued expenses 20,936 15,353 Customer deposit 700 700 Due to general fund 140,000 240,000 Total current liabilities 330,806 360,172 Accrued for landfill closure and postclosure costs 310,757 281,449 641,563 641,621 Fund equity: Contributions in aid of construction: State of Alaska 2,412,453 2,412,453 Other 19,990 19,990 2,432,443 2,432,443 Accumulated amortization (585,231) (508,426) Net contributions in aid of construction 1,847,212 1,924,017 Retained earnings, unreserved (9,911) (137,004) Total fund equity 1,837,301 1,787,013 $ 2,478,864 $ 2,428,634 78 1 79 KODIAK ISLAND BOROUGH EXHIBIT E -5 MUNICIPAL SOLID WASTE COLLECTION AND DISPOSAL FUND STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND CHANGES IN RETAINED EARNINGS BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 Variance- Favorable 1994 Budget Actual (Unfavorable) Actual Operating revenues: Solid waste collection $ 1,158,150 $ 1,205,065 $ 46,915 $ 1,193,712 Solid waste disposal 748,032 819,630 71,598 434,098 I Other 26,126 17,437 (8,689) 18,400 1,932,308 2,042,132 109,824 1,646,210 Operating expenses: Personnel services 350,145 350,763 (618) 321,833 Solid waste collection 936,681 1,079,015 (142,334) 1,050,821 Contracted services 302,923 242,163 60,760 48,542 ' Repairs and maintenance 37,500 25,884 11,616 27,434 Landfill closure and postclosure costs - 29,308 (29,308) 28,454 Depreciation 91,969 107,750 (15,781) 81,255 General administration 179,090 143,830 35,260 129,451 Capital outlay 34,000 13,413 20,587 8,137 Allocated to projects - - - (11,418) 1,932,308 1,992,126 (59,818) 1,684,509 Operating income (loss) - 50,006 50,006 (38,299) Other income: Interest income - 282 282 - ' Net income (loss) before cumulative effect of adoption of GASB 18 - 50,288 50,288 (38,299) Cumulative effect of adoption of GASB 18 - - - (252,995) Net income (loss) $ - 50,288 $ 50,288 (291,294) Amortization of contributions in aid of construction 76,805 76,805 Increase in retained earnings 127,093 (214,489) Retained earnings at beginning of year (137,004) 77,485 S Retained $ earnings at end of year (9,911) $ (137,004) 1 79 KODIAK ISLAND BOROUGH EXHIBIT E -6 I MUNICIPAL SOLID WASTE COLLECTION AND DISPOSAL FUND STATEMENT OF CASH FLOWS YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 1994 Operating income (loss) $ 50,006 $ (38,299) ' Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation 107,750 81,255 Provision for landfill closure and postclosure care costs 29,308 28,454 Loss on sale of assets - 2,690 Changes in assets and liabilities: Receivable from customers 24,879 (53,048) Due to other funds (100,000) 8,000 Accounts payable 65,051 2,787 Accrued liabilities 5,583 (2,880) Total adjustments 132,571 67,258 Net cash provided by operating activities 182,577 28,959 Cash flows from capital and related financing activities: Acquisition and construction of capital assets (184,368) (29,679) Proceeds from sale of equipment - 7,972 Net cash used for capital and related financing activities (184,368) (21,707) Cash flows from investing activities: Interest and dividends paid on investments 282 - Net change in cash and cash equivalents (1,509) 7,252 Cash and cash equivalents at beginning of year 7,801 6,292 $ 549 7,801 Cash and cash equivalents at end of year $ LZ J 80 1 I KODIAK ISLAND BOROUGH EXHIBIT E -7 WATER ENTERPRISE FUND BALANCE SHEET AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 ASSETS 1995 1994 Current assets: Equity in central treasury $ 137,530 $ 250,485 Customer receivables Less allowance for doubtful accounts Net customer receivables 40,776 (6,901) 33,875 43,522 (6,901) 36,621 Due from other funds Total current assets C' 1 Restricted assets: Equity in central treasury Temporary investments Total restricted assets Fixed assets: Unclassified utility plant in service Accumulated depreciation Net fixed assets LIABILITIES AND FUND EOUITY Current liabilities: Accounts payable Customer deposits Due to City of Kodiak Total current liabilities Fund equity: Contributions in aid of construction: City of Kodiak State of Alaska Federal government Other Accumulated amortization Net contributions in aid of construction Retained earnings, unreserved Total fund equity 140,000 311,405 99,137 262,887 362,024 6,012,160 (1,194,052) 4,818,108 $ 5,491,537 $ 32,569 26,858 9,025 68,452 189,166 5,482,630 277,135 28,562 5,977,493 (1,193,982) 4,783,511 639,574 5,423,085 $ 5,491,537 287,106 63,414 250,000 313,414 6,012,160 (1,084,399) 4,927,761 $ 5,528,281 $ 68,071 18,200 5,425 91,696 189,166 5,482,630 277,135 28,562 5,977,493 (1,084,337) 4,893,156 543,429 5,436,585 $ 5,528,281 1 81 KODIAK ISLAND BOROUGH EXHIBIT E -8 I WATER ENTERPRISE FUND STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND CHANGES IN RETAINED EARNINGS BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 ' Variance - Favorable 1994 Budget Actual (Unfavorable) Actual Operating revenues: Water sales $ 421,000 $ 449,817 $ 28,817 $ 424,457 Installation charges - 1,352 1,352 852 Other 5,000 5,250 250 5,223 426,000 456,419 30,419 430,532 s Operating expenses: -. Personnel services 15,000 8,612 6,388 8,644 Purchased water 332,000 328,913 3,087 325,853 Repairs and maintenance 30,000 4,750 25,250 31,057 Depreciation 47,400 109,653 (62,253) 109,653 Advertising and hearings - - - 39 Printing and binding 700 - 700 234 Office supplies and postage 1,400 681 719 784 Fuel 68 (68) - Administrative support 500 19,507 (19,007) - ' Continuing education - 581 Capital outlay - 10,623 (10,623) 75,631 427,000 482,807 552,476 t (55,807) Operating loss (1,000) (26,388) (25,388) (121,944) Other income: I Interest income 1,000 12,888 11,888 11,683 i Net loss $ - (13,500) $ (13,500) (110,261) Amortization of contributions in i s aid of construction 109,645 109,645 Increase (decrease) in retained earnings 96,145 (616) 1' Retained earnings at beginning of year 543,429 544,045 � Retained earnings at end of year $ 639,574 $ 543,429 82 1 KODIAK ISLAND BOROUGH WATER ENTERPRISE FUND STATEMENT OF CASH FLOWS YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT E -9 1995 1994 Operating loss $ (26,388) $ (121,944) Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation Changes in assets and liabilities: Receivable from customers Due to /from other funds Other assets Accounts payable Customer deposits Due to City of Kodiak Deferred revenue Other accrued liabilities Total adjustments Net cash provided by (used for) operating activities Cash flows from capital and related financing activities: Acquisition and construction of capital assets Receipt of gifts restricted by donor for capital purchases Net cash provided by (used for) capital and related financing activities Cash flows from investing activities: Interest and dividends paid on investments Net change in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 109,653 109,654 2,746 2,636 (140,000) 107,000 (35,502) 40,249 8,658 (9,265) 3,600 (14,935) - (60,645) - (5,723) (50,845) 168,971 (77,233) 47,027 (15,115) 15,115 12,888 11,683 (64,345) 58,710 563,899 505,189 $ 499,554 $ 563,899 83 KODIAK ISLAND BOROUGH 69,408 66,135 (19,663) (19,663) 209,554 209,554 49,745 46,472 - 240,000 (1,880,176) (1,683,586) 293,868 310,798 633,273 578,516 99,137 63,414 262,887 250,000 362,024 313,414 SEWER ENTERPRISE FUND BALANCESHEET AS OF JUNE 30, 1995 WITH COMPARATIVE FIGURES FOR 1994 ASSETS 1995 1994 Current assets: Equity in central treasury $ 244,123 $ 24,326 Customer receivables Less allowance for doubtful accounts Net customer receivables Due from municipal solid waste fund Total current assets Restricted assets: Equity in central treasury Temporary investments Total restricted assets Fixed assets: Unclassified utility plant in service Machinery and equipment Accumulated depreciation Net fixed assets LIABILITIES AND FUND EQUITY Current liabilities: Accounts payable Due to City of Kodiak Total liabilities Fund equity: Contributions in aid of construction: City of Kodiak State of Alaska Federal government Other Accumulated amortization Net contributions in aid of construction Retained earnings, unreserved Total fund equity 10,211,885 3,172 (1,881,970) 8,333,087 $ 8,988,979 10,211,886 3,172 (1,684,905) 8,530,153 $ 9,154,365 $ 50,407 8,185 58,592 EXHIBIT E -10 I $ 77,560 4,585 82,145 40,000 40,000 9,630,603 9,630,603 209,554 209,554 297,133 297,133 10,177,290 10,177,290 (1,880,176) (1,683,586) 8,297,114 8,493,704 633,273 578,516 8,930,387 9,072,220 $ 8,988,979 $ 9,154,365 A J 84 1 1 � I i 1 KODIAK ISLAND BOROUGH EXHIBIT E -11 SEWER ENTERPRISE FUND STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND CHANGES IN RETAINED EARNINGS BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 ' Operating expenses: Personnel service Purchased sewer Repairs and main ' Depreciation Operating suppli Electric ' Fuel Advertising and Printing and bin Office supplies ' Administrative Capital outlay ' Other income: Interest income Amortization of con aid of constructio Increase in retained Retained earnings at Retained earnings at 1995 10,000 5,645 4,355 6,554 Variance - treatment 400,000 417,845 Favorable 1994 Budget Actual (Unfavorable) Actual Operating revenues: 33,111 Sewer service charges $ 510,000 $ 551,272 $ 41,272 $ 525,345 Other 3,000 3,859 859 3,599 513,000 555,131 42,131 528,944 ' Operating expenses: Personnel service Purchased sewer Repairs and main ' Depreciation Operating suppli Electric ' Fuel Advertising and Printing and bin Office supplies ' Administrative Capital outlay ' Other income: Interest income Amortization of con aid of constructio Increase in retained Retained earnings at Retained earnings at 1 85 S 10,000 5,645 4,355 6,554 treatment 400,000 417,845 (17,845) 395,888 tenance 95,000 33,526 61,474 33,111 40,700 197,065 (156,365) 197,065 es 2,000 29 1,971 24 18,000 18,678 (678) 21,087 500 530 (30) 1,362 hearings 100 81 19 116 ding 700 - 700 234 and postage 1,000 648 352 632 support 20,000 25,182 (5,182) - - 10,623 (10,623) 75,631 588,000 709,852 (121,852) 731,704 Operating loss (75,000) (154,721) (79,721) (202,760) - 12,888 12,888 11,681 Net loss $ (75,000) (141,833) $ (66,833) (191,079) tributions in n 196,590 196,590 earnings 54,757 5,511 beginning of year 578,516 573,005 end of year $ 633,273 $ 578,516 1 85 KODIAK ISLAND BOROUGH SEWER ENTERPRISE FUND STATEMENT OF CASH FLOWS YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT E -12 1995 1994 Operating loss $ (154,721) $ (202,760) Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation Changes in assets and liabilities: Receivable from customers Due from other funds Other assets Accounts payable Due to City of Kodiak Deferred revenue Other accrued liabilities Total adjustments Net cash provided by (used for) operating activities Cash flows from capital and related financing activities: Acquisition and construction of capital assets Capital contractors from other Net cash provided by capital and related financing activities Cash flows from investing activities: Interest and dividends on investments Net change in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 197,065 197,065 (3,273) (21,182) 240,000 (124,000) (27,152) 48,516 3,600 (15,355) - (60,645) - (5,723) 410,240 18,676 255,519 (184,084) (16,105) 16,105 12,888 11,681 268,407 (172,403) 337,740 510,143 $ 606,147 $ 337,740 INTERNAL SERVICE FUNDS Internal Service Funds are used to account for the funding of goods or services provided between departments of the govern- mental unit or to other governments or non - profit agencies on a cost - reimbursement basis. KODIAK ISLAND BOROUGH EXHIBIT F -1 DATA PROCESSING INTERNAL SERVICE FUND BALANCESHEET AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 1994 ASSETS Current assets: Equity in central treasury $ 125,173 $ 7,786 Total current assets 125,173 7,786 Fixed assets: Machinery and equipment 719,583 699,245 Less accumulated depreciation (275,124) (134,707) Net fixed assets 444,459 564,538 $ 569,632 $ 572,324 LIABILITIES AND FUND EOUITY Current liabilities: Accounts payable $ 8,184 $ 7,901 Accrued liabilities 31,910 21,679 Total current liabilities 40,094 29,580 Fund equity: Contributed capital 617,382 617,382 Retained earnings (87,844) (74,638) Total fund equity 529,538 542,744 $ 569,632 $ 572,324 87 KODIAK ISLAND BOROUGH DATA PROCESSING INTERNAL SERVICE FUND STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND CHANGES IN RETAINED EARNINGS BUDGET AND ACTUAL YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT F -2 376,823 6,033 1995 Repairs and maintenance 47,600 46,230 1,370 27,773 Variance- 130,000 140,417 (10,417) 134,707 Favorable 1994 10,093 Budget Actual (Unfavorable) Actual Operating revenues: 907 52,342 Charges for services: 635,460 637,061 (1,601) General fund $ 235,890 $ 222,176 $ (13,714) $ 237,520 Mental Health Center 43,660 47,903 4,243 2,767 Day Care Assistance fund 2,040 2,186 146 247 Municipal solid waste collection 250,000 and disposal fund 5,320 6,118 798 4,221 Sale of copies 44,000 40,922 (3,078) 30,088 - 330,910 319,305 (11,605) 274,843 Operating expenses: Personnel services 382,856 376,823 6,033 372,898 Repairs and maintenance 47,600 46,230 1,370 27,773 Depreciation 130,000 140,417 (10,417) 134,707 Supplies 10,599 10,093 506 11,761 General and administrative 64,405 63,498 907 52,342 635,460 637,061 (1,601) 599,481 Operating loss before transfers (304,550) (317,756) (13,206) (324,638) Operating transfers in - General fund 304,550 304,550 - 250,000 Net loss $ - (13,206) $ (13,206) (74,638) Retained earnings at beginning of year (74,638) - Retained earnings at end of year $ (87,844) $ (74,638) M. KODIAK ISLAND BOROUGH EXHIBIT F -3 DATA PROCESSING INTERNAL SERVICE FUND STATEMENT OF CASH FLOWS YEAR ENDED JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 1995 1994 Operating loss Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation Changes in assets and liabilities: Accounts payable Accrued liabilities Total adjustments Net cash used for operating activities Cash flows from noncapital financing activities: Operating transfers in from other funds Cash flows from capital and related financing activities: Acquisition and construction of capital assets Net change in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year $ (317,756) $ (324,638) 140,417 283 10,231 134,707 7,901 150,931 164,287 (166,825) (160,351) 304,550 250,000 (20,338) (81,863) 117,387 7,786 7,786 - $ 125,173 $ 7,786 E36 1 AGENCY FUNDS 1 1 D, 1 Agency Funds are used to account for resources received and held by the Borough in a fiduciary capacity for individuals, private organizations, other governments and for other funds. KODIAK ISLAND BOROUGH EXHIBIT G -1 AGENCY FUNDS - DEFERRED COMPENSATION PLAN COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AS OF JUNE 30, 1995 Balance at July 1, 1994 ASSETS Investments (at market value) LIABILITIES Balance at Deductions June 30, 1995 1 995,306 $ 265,783 $ 38,130 $ 1,222,959 Due to participants $ 995,306 $ 265,783 $ 38,130 $ 1,222,959 Additions 91 1 1 � 1 GENERAL FIXED ASSETS ACCOUNT GROUP The General Fixed Assets Account Group is a self - balancing account group which is used to account for the fixed assets of the Borough other than those recorded in the Enterprise Funds. KODIAK ISLAND BOROUGH EXHIBIT H -1 GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF FIXED ASSETS BY SOURCE AS OF JUNE 30, 1995 1995 General fixed assets: Land $ 8,063,705 Buildings 74,439,372 Improvements other than buildings 845,153 Machinery and equipment 1,895,824 Construction, work -in- progress 10,287,291 $ 95,531,345 Investment in general fixed assets: Capital Projects Funds: General obligation bonds $ 56,638,758 Federal grants 4,316,206 State grants 15,273,379 General Fund revenues 6,636,687 Special Revenue Fund revenues 900,670 Contributions from State of Alaska 6,454,447 Contributions from Federal Government 1,259,300 Contributions from others 4,051,898 $ 95,531,345 .. I KODIAK ISLAND BOROUGH EXHIBIT H -2 1 95 GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY AS OF JUNE 30, 1995 Improvements Machinery Other Than and Total Land Buildings Buildings Equipment Staff agencies: Borough mayor $ 20,884 $ - $ $ $ 20,884 Borough clerk 35,646 _ _ 35,646 Finance department 92,113 - - - 92,113 Assessing department Community development department 52,804 115,545 _ _ _ 52,804 115,545 Borough engineering and facilities department 78,758 - - - 78,758 Data processing 566,388 566,388 Land sales 19,272 _ _ _ 19,272 General administration 124,910 - - - 124,910 Mental Health Center 136,582 - - - 136,582 Child Care Assistance Program 1,240 - - 1,240 Coastal management 1,123 _ 1,123 Total staff agencies 1,245,265 - - - 1,245,265 Public safety: Emergency preparedness 226,303 - 100,000 - 126,303 Fire Protection Area No. 1 962,644 241,136 455,584 265,924 Womens Bay Service Area 636,261 425,655 210,606 Woodland Acres Street Light Service Area 3,014 - - 3,014 - Total public safety 1,828,222 241,136 981,239 3,014 602,833 Schools 67,934,435 - 67,934,435 - - Teacher housing 125,715 125,715 General government buildings 4,415,709 - 4,397,983 - 17,726 Building sites 403,132 403,132 - - - Playgrounds 710,239 - - 710,239 - Other 1,161,900 - 1,000,000 131,900 30,000 74,751,130 403,132 73,458,133 842,139 47,726 Undeveloped land 7,419,437 7,419,437 - - - ' 85,244,054 8,063,705 74,439,372 845,153 1,895,824 ' Construction, work -in- progress 10,287,291 - 10,287,291 - - Total general fixed assets $ 95,531,345 $ 8,063,705 $ 84,726,663 $ 845,153 $ 1,895,824 1 95 1 1 Undeveloped land Construction, work -in- progress Total general fixed assets 1] u 67,662,899 7,088,231 - 74,751,130 7,415,953 3,484 - 7,419,437 78,146,673 7,224,820 127,439 85,244,054 6,348,878 10,985,467 7,047,054 10,287,291 $ 84,495,551 $ 18,210,287 $ 7,174,493 $ 95,531,345 97 KODIAK ISLAND BOROUGH GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY FOR THE YEAR ENDED JUNE 30, 1995 EXHIBIT H -3 ' General Fixed Assets at General Fixed Assets at July 1, 1994 Additions Deductions June 30, 1995 Staff agencies: Borough mayor $ 20,884 $ - $ $ 20,884 Borough clerk 20,386 15,260 _ 35,646 Finance department 68,549 23,564 - 92,113 Assessing department 26,984 25,820 - 52,804 Community development department 106,366 9,179 - 115,545 Borough engineering and facilities department 68,014 28,106 17,362 78,758 Data processing 648,882 - 82,494 566,388 Land sales 17,437 1,835 19,272 General administration 138,157 1,698 14,945 124,910 Mental Health Center 117,762 18,820 - 136,582 Child Care Assistance Program 1,240 1,240 Coastal management _ 1,123 - 1,123 Total staff agencies 1,233,421 126,645 114,801 1,245,265 Public safety: Emergency preparedness 226,303 - - 226,303 Fire Protection Area No. 1 971,747 3,535 12,638 962,644 Womans Bay Service Area 633,336 2,925 636,261 Woodland Acres Street Light Service Area 3,014 - - 3,014 Total public safety 1,834,400 6,460 12,638 1,828,222 Schools 60,887,381 7,047,054 67,934,435 Teacher housing 125,715 _ 125,715 General government buildings 4,404,532 11,177 - 4,415,709 Building sites 403,132 - - 403,132 Playgrounds 710,239 - - 710,239 Other 1,131,900 30,000 1,161,900 1 Undeveloped land Construction, work -in- progress Total general fixed assets 1] u 67,662,899 7,088,231 - 74,751,130 7,415,953 3,484 - 7,419,437 78,146,673 7,224,820 127,439 85,244,054 6,348,878 10,985,467 7,047,054 10,287,291 $ 84,495,551 $ 18,210,287 $ 7,174,493 $ 95,531,345 97 1 1 1 1 1 1 t 1 11 GENERAL LONG -TERM DEBT ACCOUNT GROUP The General Long Term Debt Account Group is a self - balancing account group which is used to account for unmatured general long -term debt and other obligations backed by the full faith and credit of the Borough except those long -term obligations which are required to be accounted for in the proprietary fund types and trust funds. KODIAK ISLAND BOROUGH GENERAL LONG -TERM DEBT ACCOUNT GROUP SCHEDULE OF LONG -TERM DEBT AS OF JUNE 30, 1995 WITH COMPARATIVE TOTALS FOR 1994 EXHIBIT I -1 Amount available and to be provided for the payment of general long -term debt: Amount available in debt service fund: General obligation bonds Accrued annual leave Amount to be provided: General obligation bonds Environmental Protection Agency loan General obligation bonds: 1989 refunding 1991 refunding 1993 bonds 1994 bonds Environmental Protection Agency loan Accrued annual leave 1995 1994 $ 2,075,768 $ 4,133,559 240,092 233,266 2,315,860 4,366,825 23,589,232 23,781,441 197,914 218,748 23,787,146 24,000,189 $ 26,103,006 $ 28,367,014 $ 5,920,000 $ 6,700,000 1,000,000 2,015,000 8,760,000 9,215,000 9,985,000 9,985,000 25,665,000 27,915,000 197,914 218,748 240,092 233,266 438,006 452,014 $ 26,103,006 $ 28,367,014 99 KODIAK ISLAND BOROUGH EXHIBIT J -1 KODIAK, ALASKA SUMMARY OF BONDED DEBT SERVICE REQUIREMENTS TO MATURITY AS OF JUNE 30, 1995 Annual principal and interest requirements on General Obligation School Refunding and Construction Bonds. Year Principal Interest Total 1996 $ 2,460,000 $ 1,370,170 $ 3,830,170 1997 1,545,000 1,237,938 2,782,938 1998 1,640,000 1,139,284 2,779,284 1999 1,745,000 1,035,416 2,780,416 2000 1,840,000 934,398 2,774,398 2001 1,945,000 825,663 2,770,663 2002 825,000 752,058 1,577,058 2003 860,000 716,170 1,576,170 2004 900,000 678,330 1,578,330 2005 940,000 637,380 1,577,380 2006 980,000 592,730 1,572,730 2007 1,030,000 544,710 1,574,710 2008 1,085,000 489,090 1,574,090 2009 1,145,000 430,500 1,575,500 2010 1,205,000 368,670 1,573,670 2011 1,270,000 303,600 1,573,600 2012 1,340,000 233,750 1,573,750 2013 1,415,000 160,050 1,575,050 2014 1,495,000 82,224 1,577,224 $ 25,665,000 $ 12,532,131 $ 38,197,131 101 KODIAK ISLAND BOROUGH EXHIBIT J -2 KODIAK, ALASKA GENERAL OBLIGATION SCHOOL REFUNDING BONDS, SERIES 1989 RETIREMENT SCHEDULE This issue, dated May 1, 1989, consists of 2,000 bonds in the amount of $5,000 each, totaling $10,000,000. Bonds numbered 1 through 816 have been retired. Bonds number 817 through 2,000 bear interest at the rate indicated below. Bonds are retired serially in numerical order over a period of 10 years. Retirement date is August 1 of each year beginning in 1989. Bonds maturing in 1997 and after are callable beginning in 1997 and this call privilege may be exercised. This issue was marketed by John Nuveen & Co. of Chicago. Legal opinion was rendered by bond counsel, Wohlforth, Argetsinger, Johnson & Brecht of Anchorage. Bonds were issued to refund the 1980 issue. Bonds are payable at Bank of America, Seattle, Washington. * Maturities on and after August 1, 1997 are callable at par on this and any interest date thereafter. 102 Bond Principal Interest Interest Fiscal Interest Numbers Due Due Due Year Rate Inclusive August 1 August 1 February 1 Total 1996 6.70 817 -983 $ 835,000 $ 203,571 $ 175,599 $ 1,214,170 1997 6.80 984 -1161 890,000 175,599 145,339 1,210,938 1998 6.85 1162 -1350 945,000 145,338 112,972 1,203,310 1999 6.90 1351 -1553 1,015,000 112,973 77,955 1,205,928 2000 6.95 1554 -1769 1,080,000 77,955 40,425 1,198,380 2001 7.00 1770 -2000 1,155,000 40,425 - 1,195,425 $ 5,920,000 $ 755,861 $ 552,290 $ 7,228,151 * Maturities on and after August 1, 1997 are callable at par on this and any interest date thereafter. 102 KODIAK ISLAND BOROUGH EXHIBIT J -3 KODIAK, ALASKA GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, 1991 SERIES A RETIREMENT SCHEDULE This issue, dated July 15, 1991, was issued as registered bonds under a book entry system registered in the name of Cede & Company, as Nominee of The Depository Trust Company, New York, New York, the securities depository for the 1991 Bonds. Bonds are retired serially in numerical order over a period of five years. Retirement dates are semiannually beginning on December 1, 1991 and thereafter. These bonds are not subject to redemption prior to maturity. This issue was marketed by John Nuveen & Co. Legal opinion was rendered by bond counsel, Wohiforth & Flint of Anchorage. Bonds were issued to refund the 1986 A issue. Bonds are payable at Security Pacific National Bank (formerly Rainier) Seattle, Washington. Maturity December 1, 1995 June 1, 1996 Interest Rate 5.80 5.90 Principal Interest Total $ 750,000 $ 29,125 $ 779,125 250,000 7,375 257,375 $ 1,000,000 $ 36,500 $ 1,036,500 103 KODIAK ISLAND BOROUGH KODIAK, ALASKA GENERAL OBLIGATION BONDS, 1993 SERIES A RETIREMENT SCHEDULE 1993 Bond Issue This issue, dated November 15, 1993, was issued as registered bonds under a book entry system registered in the name of Cede & Company, as Nominee of The Depository Trust Company, New York, New York, the securities depository for the 1993 Bonds. This issue was marketed by John Nuveen & Co. Legal opinion was rendered by bond council, Wohlforth, Argetsinger, Johnson & Brecht of Anchorage, Alaska. These bonds were issued to build the Northstar Elementary School, remodel the Ouzinkie School, and remodel and expand the Kodiak Island Hospital. Bonds are payable at Seattle First National Bank, Seattle, Washington. EXHIBIT J4 I 104 Interest Principal Interest Fiscal Interest Due Due Due Year Rate August 15 February 15 February 15 Total 1996 6.00 $ 204,895 $ 625,000 $ 204,895 $ 1,034,790 1997 5.50 186,145 655,000 186,145 1,027,290 1998 5.25 168,132 695,000 168,132 1,031,264 1999 3.90 149,889 730,000 149,889 1,029,778 2000 4.05 135,654 760,000 135,654 1,031,308 2001 4.20 120,264 790,000 120,264 1,030,528 2002 4.35 103,674 825,000 103,674 1,032,348 2003 4.40 85,730 860,000 85,730 1,031,460 2004 4.55 66,810 900,000 66,810 1,033,620 2005 4.75 46,335 940,000 46,335 1,032,670 2006 4.90 24,010 980,000 24,010 1,028,020 $ 1,291,538 $ 8,760,000 $ 1,291,538 $ 11,343,076 EXHIBIT J4 I 104 t 1 w 1 I KODIAK ISLAND BOROUGH EXHIBIT J -5 KODIAK, ALASKA GENERAL OBLIGATION BONDS, 1994 SERIES A RETIREMENT SCHEDULE 1994 Bond Issue This issue, dated November 15, 1993, was issued as registered bonds under a book entry system registered in the name of Cede & Company, as Nominee of The Depository Trust Company, New York, New York, the securities depository for the 1994 Bonds. This issue was marketed by John Nuveen & Co. Legal opinion was rendered by bond council, Wohlforth, Argetsinger, Johnson & Brecht of Anchorage, Alaska. These bonds were issued to build the Northstar Elementary School, remodel the Ouzinkie School, and remodel and expand the Kodiak Island Hospital. Bonds are payable at Seattle First National Bank, Seattle, Washington. Interest Principal Interest Fiscal Interest Due Due Due Year Rate August 15 February 15 February 15 Total 1995 $ 408,533 $ - $ 272,355 $ 680,888 1996 272,355 - 272,355 544,710 1997 272,355 - 272,355 544,710 1998 272,355 - 272,355 544,710 1999 272,355 - 272,355 544,710 2000 272,355 - 272,355 544,710 2001 272,355 - 272,355 544,710 2002 272,355 - 272,355 544,710 2003 272,355 - 272,355 544,710 2004 272,355 - 272,355 544,710 2005 272,355 - 272,355 544,710 2006 272,355 - 272,355 544,710 2007 5.40 272,355 1,030,000 272,355 1,574,710 2008 5.40 244,545 1,085,000 244,545 1,574,090 2009 5.40 215,250 1,145,000 215,250 1,575,500 2010 5.40 184,335 1,205,000 184,335 1,573,670 2011 5.50 151,800 1,270,000 151,800 1,573,600 2012 5.50 116,875 1,340,000 116,875 1,573,750 2013 5.50 80,025 1,415,000 80,025 1,575,050 2014 5.50 41,112 1,495,000 41,112 1,577,224 $ 4,710,735 $ 9,985,000 $ 4,574,557 $ 19,270,292 M, KODIAK ISLAND BOROUGH KODIAK, ALASKA ABESTOS REMOVAL LOAN PAYABLE RETIREMENT SCHEDULE EXHIBIT J-6 This debt was incurred June 20, 1985 as part of a package from the U.S. Environmental Protection Agency. This package was for $750,000. One -half ($375,000) was a grant (EPA Grant J 851002 010) and the other half was a loan. The loan is repayable semi - annually in the amounts indicated below. Semi - annual payments are made directly to the U.S. Environmental Protection Agency; Financial Management Center; P.O. Box 371293M, Pittsburgh, PA 15251. This is not general obligation debt. Legal opinion was rendered by bond counsel, Wolforth, Argetsinger, Johnson & Brecht of Anchorage. Fiscal Year 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 Principal Principal Interest Due Due Interest Rate* December 31 June 30 Due* 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 $ 10,417 $ 10,417 10,417 10,416 10,417 10,416 10,417 10,416 10,417 10,414 $ 104,164 $ 93,750 $ $ 20,834 20,834 20,834 20,832 20,834 20,832 20,834 20,832 20,834 10,414 $ 197,914 * No interest is payable until a payment due is in default; then interest, penalties and fees become due Total 10,417 $ 10,417 10,417 10,416 10,417 10,416 10,417 10,416 10,417 1: 1 1 I � L� STATISTICAL SECTION I Statistical Tables provide report users with a better historical perspective in assessing current financial status and trends of the Borough. KODIAK ISLAND BOROUGH KODIAK, ALASKA GENERAL GOVERNMENTAL EXPENDITURES AND OTHER USES BY FUNCTION (a) LAST TEN FISCAL YEARS TABLE 1 Other Fiscal General Health and Operating Year Government Sanitation Educationro Transfers Total 1986 $ 1,877,136 $ 563,516 $ 1,662,858 $ 447,669 $ 4,551,179 1987 2,089,508 579,930 1,901,130 553,373 5,123,941 1988 1,964,710 545,954 2,177,405 890,000 5,578,069 1989 2,208,351 517,112 2,128,997 768,100 5,622,560 1990 2,478,619 367,921 2,334,650 553,312 5,734,502 1991 2,791,798 621,000 2,143,633 460,325 6,016,756 1992 2,739,848 706,251 3,027,510 500,000 6,973,609 1993 2,955,824 674,032 3,374,721 137,962 7,142,539 1994 2,555,349 690,430 3,615,695 322,228 7,183,702 1995 2,681,472 1,442,644 (°) 3,861,967 164,649 8,150,732 (a) Includes general fund only. (b) Includes operating transfers for this function (c) Includes $700,000 transfer to Debt Service /School Bonds and $200,000 transfer to Mental Health Center Source: Borough general ledger 107 KODIAK ISLAND BOROUGH TABLE 2 KODIAK, ALASKA GENERAL REVENUES BY SOURCE (a) LAST TEN FISCAL YEARS (a) Includes general fund only. (b) Includes a $481,269 loss on investment relating to the Lion Capital Group. Source: Borough general ledger 108 Licenses, Inter - Fiscal Permits Governmental Operating Year Taxes and Fees Revenue Miscellaneous Transfers Total 1986 $ 2,065,440 $ 137,635 $ 2,277,655 $ (113,025) ro> $ 53,660 $ 4,421,365 1987 2,188,750 237,481 2,114,283 451,518 57,090 5,049,122 1988 2,691,065 98,059 2,291,627 355,802 114,635 5,551,188 1989 2,515,436 95,748 3,449,948 354,523 56,410 6,472,065 1990 2,640,044 120,145 1,316,238 540,851 68,790 4,686,068 1991 2,823,929 100,868 2,255,951 456,381 173,230 5,810,359 1992 4,067,934 212,936 2,450,339 367,551 81,670 7,180,430 1993 4,481,158 433,825 1,991,730 289,570 - 7,196,283 1994 4,674,382 457,895 2,053,750 291,046 - 7,477,073 1995 5,976,914 928,079 1,633,162 659,794 - 9,197,949 (a) Includes general fund only. (b) Includes a $481,269 loss on investment relating to the Lion Capital Group. Source: Borough general ledger 108 KODIAK ISLAND BOROUGH KODIAK, ALASKA PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS TABLE 3 Source: Borough general ledger ' 109 Percent of Percent of Percent Delinquent Total Tax Outstanding Delinquent Fiscal Total Current Tax of Levy Tax Total Tax Collections Delinquent Taxes to ' Year Tax Levy Collections Collected Collections Collections to Tax Levy Taxes Tax Levy 1986 $ 2,024,237 $1,986,914 98.2% $ 13,502 $ 2,000,416 98.8% $ 43,185 2.1% ' 1987 2,181,410 2,176,543 99.8 12,207 2,188,750 100.3 49,235 2.3 1988 1,926,427 1,912,214 99.3 54,625 1,966,839 102.1 25,610 1.3 1989 1,991,902 1,987,251 99.8 4,474 1,991,725 99.9 21,136 1.1 ' 1990 2,034,500 2,017,190 99.1 12,351 2,029,541 99.8 28,640 1.4 I 1991 2,237,629 2,189,270 97.8 17,254 2,206,524 98.6 59,745 2.7 1992 3,736,674 3 654 535 > > 97.8 22 178 3 676 713 > 98.4 92,290 2.5 ' 1993 4,045,235 3,907,612 96.6 60,633 3,968,245 98.1 169,584 4.2 1994 4,353,371 4,176,676 95.9 21,295 4,197,971 96.4 193,624 4.4 1995 5,148,672 4,955,108 96.2 56,140 5,011,248 97.3 232,679 4.5 Source: Borough general ledger ' 109 KODIAK ISLAND BOROUGH TABLE 4 KODIAK, ALASKA ' ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS ' 4 Ratio of Total Assessed to REAL PROPERTY PERSONAL PROPERTY TOTAL r Total Fiscal Assessed Estimated Assessed Estimated Assessed Estimated Estimated Actual Year Value Actual Value Value Actual Value Value Actual Value Value t 1986 $ 374,136,300 $ 408,336,500 $ 46,204,800 (a) $144,110,900 $ 420,341,100 $ 552,447,400 76.09% 408,863,305 597,358,600 68.45 ' 1987 369,860,196 398,049,400 39,003,109 199,309,200 1988 379,969,521 390,550,900 48,795,064 204,075,100 428,764,585 594,626,000 72.11 ' 1989 378,072,396 415,666,660 58,727,868 229,477,103 436,800,264 645,143,763 67.71 1990 406,433,607 435,940,500 73,508,740 267,181,594 479,942,347 703,122,094 68.26 ; 1991 439,710,369 457,383,400 76,594,500 280,085,100 516,304,869 737,468,500 70.01 ' 1992 467,821,217 497,758,275 91,537,867 331,544,400 559,359,084 829,302,675 67.45 1993 499,172,455 517,754,900 92,264,018 325,842,100 591,436,473 843,597,000 70.11 , 1994 515,954,650 539,053,753 98,616,145 319,052,138 614,570,795 858,105,891 71.62 ' s 1995 538,627,500 560,459,900 101,835,076 318,741,600 640,462,576 879,201,500 72.85 (a) Reflects exemptions of boats and inventories. Source: Borough assessment and tax records , i r 110 r. � I 1 KODIAK ISLAND BOROUGH ' KODIAK, ALASKA PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS - (PER $100 OF ASSESSED VALUE) LAST TEN FISCAL YEARS ' Fiscal Assessed Amount of Mileage Year Value Contribution Equivalen 1986 $ 406,612,778 $ 1,524,460 3.75 ' 1987 Woodland 2,140,149 5.29 1988 428,764,585 2,343,992 5.47 KIB City 2,444,882 Acres ROAD SERVICES DISTRICTS FIRE DISTRICT 452,016,912 2,469,558 5.46 Fiscal General of 2,484,606 Lighting Monashka Service Bayview Womans Service Womans 1993 Year Fund Kodiak Total District Bay District 1 Road Bay District 1 Bay 3,799,059 5.93 3.75 2.00 5.75 0.00 2.00 0.25 0.00 0.10 1.50 0.90 ' 1986 1987 4.51 2.00 6.51 0.00 2.00 0.25 1.00 0.50 1.50 0.50 1988 4.51 2.00 6.51 0.00 2.00 0.25 1.00 0.50 1.50 0.25 4.50 2.00 6.50 0.00 2.00 0.25 1.50 1.50 1.50 0.25 ' 1989 1990 4.50 2.00 6.50 0.00 1.25 0.70 1.00 1.50 1.25 1.25 1991 4.50 2.00 6.50 0.75 2.00 1.00 1.00 2.50 1.25 1.25 ' 1992 1993 5.50 5.50 2.00 2.00 7.50 7.50 0.75 0.75 2.00 2.00 1.75 1.75 1.00 1.00 2.50 2.50 1.25 1.25 1.25 1.25 1994 5.50 2.00 7.50 0.75 2.00 1.75 1.00 2.50 1.50 1.25 1995 675 200 875 075 150 075 100 200 150 125 ' a• The ro er tax mil for the Kodiak Island Bor has not in the p ast ears been broken out P P t3' g � P Y to indicate the true mileage that would be distributed to the various entities, in all cases. b. Contributions from the Borough to the School District for the last ten years is calculated to have been as follows: TABLE 5 I 111 Fiscal Assessed Amount of Mileage Year Value Contribution Equivalen 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 1989 423,038,700 2,444,882 5.78 ' 1990 452,016,912 2,469,558 5.46 1991 516,304,869 2,484,606 4.81 1992 559,359,084 3,279,444 5.86 1993 591,436,473 3,473,411 5.87 ' 1994 614,510,795 3,495,847 5.69 1995 640,462,576 3,799,059 5.93 ' Source: Borough ordinance and assessment records. TABLE 5 I 111 KODIAK ISLAND BOROUGH TABLE 6 KODIAK, ALASKA TEN LARGEST PROPERTY TAXPAYERS JUNE 30, 1995 Source: Borough tax records. 112 Percentage Percentage of Total 1994 Net of Total Assessed Assessed Taxes Taxes Value Valuation Levied Levied Tyson Seafoods 2.2% $ 14,165,868 $ 108,091 2.0 % International Seafoods 1.9 12,100,542 98,764 1.8 Western Alaska Fisheries 1.7 11,172,450 87,676 1.6 Ocean Beauty Seafood 1.6 10,297,604 74,211 1.4 Kodiak Fishmeal Co. 1.5 9,552,943 74,270 1.4 T.U. of the Northland 1.4 9,271,729 64,954 1.2 Sea -Land Services 1.4 9,179,329 75,959 1.4 Alaska Pacific Seafoods 1.4 9,069,364 68,379 1.3 Mill Bay Plaza Association 1.1 7,171,400 62,750 1.2 Silver Bay Logging 1.0 6,212,208 42,119 0.8 Totals 15.2 % $ 98,193,437 $ 757,173 14.1 % Source: Borough tax records. 112 � I KODIAK ISLAND BOROUGH TABLE 7 KODIAK, ALASKA RATIO OF NET GENERAL BONDED DEBT (a) LAST TEN FISCAL YEARS Ratio Net of Net Bonded Less Debt Bonded Debt Debt Fiscal Assessed Gross Service Net Bonded to Assessed Per Year Population (b) Value Bonded Debt Fund Debt Value Capita 1986 13,748 $ 406,612,778 $ 30,665,000 $ 7,776,557 $ 22,888,443 5.6 % $ 1,665 ' 1987 13,952 404,859,425 25,925,000 7,279,292 18,645,708 4.6 1,336 ' i 1988 14,127 428,764,585 22,160,000 7,111,644 15,048,356 3.5 1,065 i 1989 15,575 436,800,264 17,550,000 5,310,721 12,239,279 2.8 786 ' I 1990 15,558 452,016,912 15,310,000 6,683,745 8,626,255 1.9 554 ' 1991 15,679 516,304,869 13,735,000 7,307,730 6,427,270 1.2 410 1992 15,535 559,359,084 084 > 12 195 000 > 6 556 480 > 5 638 520 > > 1.0 363 1993 15,535 591,436,473 10,470,000 5,847,171 4,622,829 0.8 298 1994 15,245 614,570,795 27,915,000 4,133,559 23,781,441 3.9 1,560 1995 15,575 640,462,576 25,665,000 2,075,768 23,589,232 3.7 1,515 Sources: (a) Information obtained from assessment records and Borough general ledger except as otherwise noted. ' (b) 1990 population is per U.S. Bureau of Census (preliminary); others are estimates from the Borough Community Development Department based on the "Housing Unit Method." 113 KODIAK ISLAND BOROUGH KODIAK, ALASKA COMPUTATION OF DIRECT AND OVERLAPPING DEBT JUNE 30, 1995 TABLE 8 Percentage Kodiak Island Net Debt Applicable to this Borough Outstanding Governmental Share of (a) Unit (b) Debt (c) Kodiak Island Borough: General obligation bonds $ 23,589,232 City of Kodiak: General obligation bonds 145,000 Revenue bonds 5,880,000 Total $ 29,614,232 100% $ 23,589,232 57% 82,650 57% 3,351,600 $ 27,023,482 (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. Sources: Borough general ledger and City of Kodiak records. 114 KODIAK ISLAND BOROUGH KODIAK, ALASKA COMPUTATION OF LEGAL DEBT MARGIN JUNE 30, 1995 TABLE 9 Assessed value Plus exempt property Total $ 640,462,576 2,404,513,974 $ 3,044,976,550 The State of Alaska does not mandate a debt limit to its municipalities and political subdivisions. Debt capacity is ultimately determined by the marketplace. Source: Borough assessment records. 115 KODIAK ISLAND BOROUGH KODIAK, ALASKA RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES AND TRANSFERS 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. Source: Borough general ledger and debt documents 116 Total Ratio of General Debt Service Fiscal Interest Total Debt Expenditures to General Year Principal (a) and Fees Service and Transfers Expenditures 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 1989 5,135,833 1,502,762 6,638,595 5,622,560 118.1 1990 2,260,833 978,583 3,239,416 5,803,292 55.8 1991 1,595,834 1,019,401 2,615,234 6,016,756 43.5 1992 1,685,833 1,008,918 2,694,751 6,973,603 38.6 1993 1,745,833 736,357 2,482,190 7,142,539 34.8 1994 1,775,833 690,170 2,466,003 7,162,545 34.4 1995 2,270,833 1,760,185 4,031,018 8,150,732 49.5 (a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case of term bonds. Source: Borough general ledger and debt documents 116 KODIAK ISLAND BOROUGH KODIAK, ALASKA DEMOGRAPHIC STATISTICS LAST TEN FISCAL YEARS TABLE 11 Fiscal School Unemployment Year Population (a) Enrollment (b) Rate (c) 1986 13,748 2,285 7.7% 1987 13,952 2,329 7.4 1988 14,127 2,531 6.2 1989 15,575 2,304 6.2 1990 15,558 2,328 5.6 1991 15,679 2,398 8.2 1992 15,535 2,614 5.1 1993 15,535 2,632 6.0 1994 15,245 2,802 9.4 1995 15,575 2,773 11.2 Sources: (a) 1990 per U.S. Bureau of Census; other years per Borough Community Development Department, except 1992 and 1993. (b) Kodiak Island Borough School District. (c) Department of Labor, Anchorage. 117 KODIAK ISLAND BOROUGH TABLE 12 KODIAK, ALASKA SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS YEAR ENDED JUNE 30, 1995 Amount of Annual Surety Name of Official Title Salary Bond (1) Jerome Selby See page vi of introductory section Contracted Karleton Short Earl Smith Perry Page Donna Smith Linda Freed Vivian Brumbaugh Patrick Carlson Martin White Steve Hobgood Cheryl Bolger Kelli Veech Mayor Assembly members Attorney Finance Director /Treasurer Fire Chief, Service Area One Data Processing Manager Borough Clerk Community Development Director Cashier Assessor/ Appraiser Director of Mental Health Facilities Coordinator General Accountant Revenue Accountant $ 73,445 (2) 2,400 (2) 76,544 72,842 69,347 55,536 80,413 30,680 66,019 69,347 64,418 51,563 47,882 $ 1,000,000 50,000 (1) By ordinance in 1984 the Kodiak Island Borough Assembly elected to decrease the amount of bond payments and 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. Source: Borough personnel records. 118 KODIAK ISLAND BOROUGH KODIAK, ALASKA PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS LAST TEN FISCAL YEARS 01F11MAM CONSTRUCTION PROPERTY VALUE* *Estimated actual value of real property. Source: Borough assessing records, City of Kodiak building department and local bankers. 119 Commercial Residential Deposits Fiscal No. of No. of in Local Year Permits Value Permits Value Banks Commercial Residential Nontaxable 1986 54 $3,012,970 118 $10,563,802 $64,420,672 $ 115,574,577 $ 258,311,716 51,127,834,040 1987 35 4,256,169 134 5,313,110 70,402,810 114,409,875 252,950,321 1,134,524,305 1988 42 549,382 91 4,314,003 72,068,409 123,053,031 255,417,891 1,159,131,464 1989 22 1,174,346 131 6,421,773 93,830,000 128,202,254 266,409,021 1,177,364,559 1990 18 1,709,715 104 8,109,662 90,221,433 115,477,806 314,539,889 1,993,871,408 1991 69 3,692,371 152 5,706,524 90,392,243 130,469,150 323,060,260 2,002,661,025 1992 48 3,748,125 163 9,201,613 103,679,201 134,637,371 333,203,846 2,027,200,278 1993 55 3,359,264 143 6,218,434 94,838,546 148,714,050 350,458,405 2,271,468,957 1994 45 2,947,984 146 5,037,061 98,970,444 148,156,300 367,798,350 2,354,550,201 1995 59 6,055,321 159 4,305,352 103,838,289 155,755,000 382,872,500 2,404,513,974 *Estimated actual value of real property. Source: Borough assessing records, City of Kodiak building department and local bankers. 119 KODIAK ISLAND BOROUGH KODIAK, ALASKA MISCELLANEOUS STATISTICAL DATA LAST TEN FISCAL YEARS Date of incorporation - September 30, 1963, Second Class Borough by Chapter 146 Sessions, Laws of Alaska 1961, as amended, Form of Government - Mayor/ Assembly. Land area - square miles Miles of improved street Miles of sanitary sewers Number of water taps Number of sanitary sewer taps Building permits: Permits issued Value of buildings (thousands) Fire protection: Number of fire stations Number of employees Police protection - none Recreation: Parks - number of acres Facilities: Number of playgrounds Number of swimming pools Education: Number of schools: City of Kodiak Elementary City of Kodiak Junior High City of Kodiak High School Village Schools (b) Number of support personnel (c) Number of teachers Number of students Number of municipal employees Elections: 1986 1987 1988 1989 4,900 4,900 4,900 7130(a) 19.5 20.3 21.5 21.5 9.6 15.5 16.0 16.0 410 659 707 748 327 619 666 727 172 169 133 153 $ 12,196.8 $ 9,570.0 $ 4,863.4 $ 7,596.1 2 2 2 2 1 1 1 1 220 222 223 223 14 15 15 15 1 1 1 1 3 3 3 3 1 1 1 1 1 1 1 1 7 7 7 8 159 152 167 172 154 148 169 167 2,285 2,329 2,351 2,304 49 53 57 66 Number of registered voters 6,463 6,559 5,427 6,150 Number voting in last election 2,356 2,094 2,507 1,459 Percent of registered voters 36.4% 31.9% 46.2% 23.7% (a) By annexation, effective March 4, 1989 the Borough has grown an additional 12,830 square miles. Total Borough is now 22,395 square miles with a land mass of 7,130 square miles (see map on page ix.) (b) The majority of Village Schools are grades K -12. (c) All non - teaching employees. Source: Borough records. 120 ' TABLE 14 1 1990 1991 1992 1993 1994 1995 7,130 7,130 7,130 7,130 7,130 7,130 ' 21.5 21.5 21.5 21.5 21.6 21.6 16.0 16.0 16.0 16.7 16.8 17 748 748 873 877 913 921 ' 727 727 851 858 891 899 ' 122 $ 9,819.3 221 $ 9,398.9 211 $ 12,950.0 183 $ 9,577.7 96 $ 4,740.0 218 $ 10,360.0 2 2 2 2 2 2 ' 1 1 1 1 1 1 223 223 223 223 223 223 15 15 15 15 15 15 ' 1 1 1 1 1 1 ' 3 3 3 3 3 3 1 1 1 1 1 1 ' 1 8 1 9 1 9 1 9 1 9 1 9 165 175 166 171 180 180 167 167 164 172 191 195 2,328 2,398 2,614 2,632 2,802 2,773 70 75 72 67 64 65 ' 6,352 6,707 6,263 6,654 7,061 7,382 2,327 1,959 1,986 2,328 2,634 2,113 ' 37.0% 29.0% 31.8% 35.0% 37.0% 29.0% 1 121