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Kodiak Island Borough
Popular Annual Financial Report For Fiscal Year Ending June 30, 2018
CAPITAL PROJECTS
Completed in FY2018:
• Main Elementary Walkway Replacement
• Kodiak Fisheries Research Center Digital Control Upgrades
• East Elementary Renovation Phase I (Bathrooms)
• Bayside Fire Department Window Replacement, Phase II
New Main Elementary Elevated Walkway
Scheduled for Completion in FY2019:
• East Elementary Renovation, Phase II (Counters, cabinets &
Flooring)
• Peterson Elementary and Kodiak Middle School Paving and
• Kodiak Middle School Fire Alarm, Controls & Elevator Upgrades
• Rural School Playground Upgrades
• Akhiok, Karluk & Ouzinkie School Flooring Replacement
• Kodiak Middle School Electric Boiler Installation
New Electric Boiler at Kodiak Middle School
Scheduled for Completion Beyond FY2019:
• Kodiak Middle School Fuel Oil Boiler Replacement
• Kodiak High School Electric Boiler Installation
• Kodiak Fisheries Research Center (KFRC) Electric Boiler
Underground Storage Tank Removal Installation
• Chiniak Tsunami Shelter and Library • Baler Building Roof and Siding Replacement
• Bayside Fire Department Boiler Replacement --
GOVERNMENTAL FUNDS - FUND BALANCE 6/30/18
■ General Fund ■ Special Revenue Funds a Debt Service Fund Capital Funds
$3,188,954.00 $43,542,549.00 $207,204.00 $5,411,992.00
GENERAL FUND REVENUES — A Closer Look
Category Descriptions:
_ Services. Fees, Investments & Other: Local revenues
from penalties and interest, building permits, zoning
7,000,000 157,935 permits, interest earnings and changes in market
98 320 value on investments, map sales and reimbursed
6,000,000
■ services, Fees,
expenses.
Investments &Other
Intergovernmental: Federal and State revenues such
5,000,000
IN Intergovernmental
as Payment in Lieu of Tax (PILT), Community Revenue
Sharing, Fisheries Business Tax Sharing, Fisheries
4,000,000
■ severance Taxes
Landing Tax, National Wildlife Refuge and PIERS on
Behalf Payments.
3,000,000
Severance Taxes: Local revenues from fish, gravel and
■Property Taxes
timber.
2,000,000
Property Taxes: Local revenues from residential and
commercial real and personal properties and com-
1,000,000
mercial aircraft.
Kodiak Island Borough
Popular Annual Financial Report For Fiscal Year Ending June 30, 2018
FINANCIAL STRUCTURE
The Borough maintains 32 separate funds to account for governmental services. They are generally established based upon their legal basis
and objectives. These funds are grouped into two separate categories: Governmental Funds and Proprietary Funds. This report focuses on
the funds which interests most residents : General, Education Support, and Municipal Solid Waste Collection & Disposal.
GOVERNMENTAL FUNDS
(Reports the basic service activities provided by the Borough)
Governmental Fund Name Activity or Purpose of Fund
General Fund Operating fund for the Borough. Departments within the fund are: the Assembly, Assessing, Clerks, Community
Development, Engineering & Facilities, Finance/IT (Information Technology) and the Manager.
Special Revenue Funds Operating funds for specific revenue sources. These include: education, facilities, tourism, emergency planning,
and neighborhood service districts such as road, fire and street lighting, as well as maintenance of Borough
building and grounds.
Debt Service Fund Operating fund for the payment of general long-term debt principal, interest and other related costs. Currently,
Capital Project Funds
Revenues
Operating fund for the acquisition or construction of major capital facilities and equipment.
Statement of Revenue, Expenditures and Changes in Fund Balance (Deficits)
All Governmental Funds General
(includes General and Education Support Funds) Fund
FY 2016 FY 2017 FY 2018 FY 2018
Education
Support Fund
(Special Revenue)
FY 2018
Property Taxes $14,310,687
$15,700,272
$16,002,128 $1,071,739
$9,081,031
Severance Taxes 1,586,555
1,414,557
1,929,409Aj 1,815,923
-
Intergovernmental 11,961,335
8,762,875
9,042,586 3,501,872
237,895
Services, Fees, Investments & 1,468,634
Other miscellaneous revenue
3,295,653
$1,875,439 390,376
-
Total Revenues $29,327,211
$29,173,357
$28,849,562 $6,779,910
$9,318,926
Expenditures
General Government $5,307,245
$5,281,999
$5,715,946 $4,399,266
-
Public Safety 572,839
699,118
684,4999 114,015
-
Community & Economic Devel- 1,069,639
opment
1,096,928
1,177,198 1,080,628
-
Emergency Preparedness 30,849
35,861
43,038 43,038
-
Health & Social Services 389,000
233,999
207,500 207,500
-
Parks, Culture & Recreation 111,405
47,734
81,851 81,851
-
Service District Maintenance 626,289
475,248
587,707 -
-
Primary & Secondary Education 11,100,650
10,373,548
9,449,500 72,000
9,377,500
Capital Outlay 16,671,895
5,022,964
3,784,485 -
-
Debt Service 6,519,986
7,162,8721
7,278,310 -
-
Total Expenditures $42,399,797
1 30,430,271
1 $30,327,073 $5,998,298
$9,377,500
Other financing sources (uses)
Increase (decrease) in fund bal-
ance
17,605,273 I (1,071,648)1 181,142 90,2181 -
4,532,6871 (2,328,562)1 (1,296,369) 871,8301 (58,574)
Fund Balance, beginning of 51,442,943 55,975,630I 53,647,068 2,317,124 168,040)
year, as restated
Fund Balance, at end of year
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Kodiak Island Borough Popular Annual Financial Report For Fiscal Year Ending June 30, 2018
PROPRIETARY FUNDS:
(Reports the business -type activities provided by the Borough)
Proprietary Fund Name Activity or Purpose of Fund
Municipal Solid Waste Collection & Accounts for the collection and disposal of solid waste and for the operation of the Leachate
Disposal Treatment plant.
Hospital Facility Accounts for the Borough -owned hospital.
Long -Term Care Center Accounts for the Borough -owned long-term care center.
Kodiak Fisheries Research Center Accounts for the Borough -owned Kodiak Fisheries Research Center.
911 Services Accounts for fees collected from all phone lines for a 911 emergency system.
Statement of Revenue, Expenses and Changes in Net Position (Deficits)
All Borough Proprietary Funds
Municipal Waste
(Includes Municipal
Waste Collection & Disposal)
Collection & Dis-
posal
FY 2016
FY 2017
FY 2018
FY 2018
Revenues
Total Operating Revenue
$8,219,712
$5,789,553
$7,374,788
$3,814,777
Total Non -Operating Revenue
680,758
264,784
169,594
67,938
Total Revenues
$8,900,470
$6,054,337
$7,544,382
$3,882,715
Expenses
Total Operating Expenses
$7,107,229
$6,229,317
$6,551,438
$2,926,361
Total Non -Operating Expenses
1,160,832
1,095,2251
792,224
319,165
Total Expenses
,.. , $8,268,061
$7,324,542
$7,343,662
$3,245,526
Other Financial Sources (uses)
— 61,5541
1,134,372
45,000
Net Position, beginning of year,
49,124,314
49,818,277
49,418,083
14,930,971
as restated
Net Position, end of year
549,818,277
549 682,444
49 alm
S15,568,160
BOROUGH POPULATION AND STATISTICAL INFORMATION
FY 2016 FY 2017 FY 2018
Borough Population
13,790
13,563
13,287
Annual Unemployment Rate in the Borough
5.2%
5.1%
5.1%
Percentage of owner -occupied housing in the Borough
62.6%
61.7%
60.7%
Median Gross Rent within the Borough
Not available
$1,294
$1,254
Median household income within the Borough
Not available
$74,167
$73,068
Percent of persons living in poverty within the Borough
Not available
7.5%
7.3%
KIBSD Student Enrollment
2,437
2,425
2,437
KIBSD Employees (Teachers and support personnel)
370
383
416
Number of Schools in the Borough
13
13
13
Number of Borough Employees
43
45
45
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