CAFR FY1977KODIAK ISLAND BOROUGH
Table of Contents
Accountants' Report
Exhibit
Combined Balance Sheets, Various Funds A
Borough - General Fund:
Balance Sheet B
Statement of Changes in Fund Balance C
Statement of Estimated and Actual Revenues D
Statement of Expenditures - Budget and Actual E
Federal Revenue Sharing Fund:
Balance Sheet F
Statement of Budgeted and Actual Revenues, Expenditures,
Encumbrances and Changes in Fund Balance G
Anti- recession Fund:
Statement of Revenue, Expenditure and Changes in Fund Balance H
Land Sales Fund:
Balance Sheet I
Statement of Budgeted and Actual Revenues, Expenditures,
Encumbrances and Changes in Fund Balance (Deficit) J
Fire and Road District Funds:
Balance Sheets K
Statements of Budgeted and Actual Revenues and Expenditures and
Changes in Fund Balance L
Debt Service Fund:
Balance Sheet M
Statement of Revenues, Expenditures and Changes in Fund Balances N
Capital Projects Funds:
Balance Sheet 0
Statements of Revenues, Expenditures, Encumbrances and Changes
in Fund Balances (Deficit) P
Kodiak Aleutian Mental Health Center:
Balance Sheet
Statement of Changes in Fund Balance
Statement of Revenues and Expenditures
School District - General Fund:
4
R
S
Balance Sheet T
Statement of Changes in Fund Balance U
Statement of Estimated and Actual Revenues V
Statement of Expenditures and Encumbrances - Budget and Actual W
(Continued)
KODIAK ISLAND BOROUGH
Table of Contents
Exhibit
School District - Special Revenue Funds:
Combined Balance Sheet g
Combined Statements of Budgeted and Actual Revenues, Expenditures,
Encumbrances and Changes in Fund Balances y
School District - Cafeteria Fund:
Balance Sheet Z
Statement of Budgeted and Actual Revenues and Expenditures AA
Statement of Changes in Fund Balance BB
School District - Tobacco Tax Fund:
Balance Sheet CC
Statement of Revenues, Expenditures and Changes in Fund Balance CC
School District - Student Activity Funds:
Balance Sheets DD
Statement of Revenues, Expenditures, Encumbrances and Changes
in Fund Balances (Deficits) EE
General Long -term Debt:
Statement of General Long -term Debt FF
Schedule of Bonds Payable GG
Notes to Financial Statements
PEAT, MARWICK, MITCHELL & CO.
CERTIFIED PUBLIC ACCOUNTANTS
THE FINANCIAL PLAZA
601 WEST 5TH AVENUE, SUITE 700
ANCHORAGE, ALASKA 99501
Members of the Borough Assembly
Kodiak Island Borough:
We have examined the financial statements of the various funds and the general
long -term debt group of accounts of the Kodiak Island Borough for the year ended
June 30, 1977, listed in the foregoing table of contents. Our examination was
made in accordance with generally accepted auditing standards, and accordingly
included such tests of the accounting records and such other auditing procedures
as we considered necessary in the circumstances.
The Borough has not maintained a record of its general fixed assets and accord-
ingly a statement of general fixed assets, required by generally accepted
accounting principles, is not included in the financial report.
In our opinion, the accompanying financial statements listed in the aforementioned
table of contents present fairly the financial position of such funds and the
general long -term debt group of accounts of the Kodiak Island Borough at June 30,
1977, and the results of operations of such funds for the year then ended, in
conformity with generally accepted accounting principles applied on a basis
consistent with that of the preceding year.
September 2, 1977
KODIAK ISLAND BOROUGH
Combined Balance Sheets, Various Funds
June 30, 1977
Federal
Revenue
General Sharing
Assets
Fund
Fund
Cash:
-
-
Restricted
$ 100,381
88,376
Unrestricted
721,940
-
Cash with fiscal agent
-
-
Deposits held
5,000
-
Property taxes receivable, net
59,346
-
Due from State of Alaska
45,656
-
Due from hospital
66,537
-
Due from other funds
297,951
-
Accrued interest receivable
2,226
780
Notes receivable from land sales
-
-
Federal Revenue Sharing entitlement receivable
-
19,640
Other receivables, net
4,549
-
Prepaid expenses
22,224
-
Furniture and equipment, at cost
Inventories
Amount available for retirement of term bonds
Amount to be provided for retirement of bonds
Liabilities, Encumbrances and Fund Balances
$ 1.325.810 108,796
Accounts payable
14,916
-
Contracts payable
-
-
Matured bond interest coupons
-
-
Payroll taxes accrued and withheld
8,043
-
Accrued annual leave
7,815
-
Deposits held
5,000
-
Due to City of Kodiak
5,334
-
Due to other funds
427,521
97,391
Bonds payable
-
-
Due to State of Alaska
-
-
Federal government
-
-
Accrued payroll
-
-
Advances received toward programs
-
-
Public employees' retirement payable
-
-
Encumbrances outstanding
-
2,614
Fund balances:
Appropriated
305,218
-
Unappropriated
551,963
8,791
Total fund balances (deficit)
857,181
8,791
$ 1,325.810 108,796
See accompanying notes to financial statements.
Exhibit A
185,190 565 165,000 75,901 26,291 - 39,844 - - 26,365 -
571,897 (839 - - 75,587 - - 44,402 845 -
757,087 (274 165,000 75,901 101,878 - 39,844 44,402 845 26,365 -
848,427 9,197 228,857 575,927 116,243 758,739 226,142 44,402 845 26,712 4,295,000
Fire
School
School
School
and Road
Capital
District
District
District
Student
General
Land
District
Debt
Project
Mental
General
Special
Cafeteria
Tobacco
Activities
Long -term
Sales Fund
Funds
Service Fund
Fund
Health Center
Fund
Revenue Funds
Fund
Tax Fund
Funds
Debt
755,001
-
165,000
746
78,982
-
-
16,540
145
24,073
-
-
-
-
-
-
137,264
-
-
-
_
_
-
-
27,005
-
-
-
-
-
-
-
-
-
438,373
138,004
1,865
-
9,197
30,252
575,181
-
65,745
-
150
700
2,639
-
-
-
6,600
-
550
-
-
_
_
_
_
93,426
-
-
-
-
-
-
-
-
10,420
55,505
87,914
71
-
-
-
-
-
7,659
224
-
-
-
-
26,291
-
-
-
-
-
-
-
-
54,193
-
25,776
-
-
_
-
-
-
-
-
-
-
-
165,000
-
-
-
-
-
-
-
-
-
4,130,000
848,427
4�
9,197
228,857
575,927
116,243
758,739
226,142
44,402
845
26,712
4,295,000
I
-
-
-
5,620
616
37,235
5,310
-
-
270
_
-
-
-
184,425
-
-
_
_
_
_
_
-
-
27,005
-
-
_
_
-
-
-
-
6,070
82,417
7,270
-
-
-
-
18,257
-
90,367
9,471
36,852
30,252
201
258,365
31,395
-
-
_
_
-
-
-
-
-
-
-
4,295,000
-
-
-
-
1,865
-
-
_
_
_
_
-
-
-
-
5,613
-
73,730
-
-
-
-
-
-
1,142
-
-
-
-
-
-
-
-
-
261,445
18,998
-
-
-
-
-
7,283
-
973
-
-
279,729
-
93,737
48,453
-
-
77
_
185,190 565 165,000 75,901 26,291 - 39,844 - - 26,365 -
571,897 (839 - - 75,587 - - 44,402 845 -
757,087 (274 165,000 75,901 101,878 - 39,844 44,402 845 26,365 -
848,427 9,197 228,857 575,927 116,243 758,739 226,142 44,402 845 26,712 4,295,000
KODIAK ISLAND BOROUGH
General Fund
Balance Sheet
June 30, 1977
Assets
Cash:
Unrestricted, including $406,115 of time
certificates of deposit $ 721,940
Restricted, including $36,000 of time
certificates of deposit 100,381
Total cash 822,321
Deposits held, time certificates of deposit 5,000
Property taxes receivable:
Real $ 63,837
Personal 33,509
97,346
Less allowance for uncollectable taxes 38.000
Net property taxes receivable 59,346
Due from State of Alaska 45,656
Due from hospital 66,537
Due from KANA 4,549
Due from other funds:
Kodiak - Aleutian Mental Health Center Fund 201
Land Sales Fund 13,217
Debt Service Fund 6,852
Bells Flats Road District Fund 9,471
Federal Revenue Sharing Fund 13,184
School District General Fund 255.026
Total due from other funds 297,951
Accrued interest receivable 2,226
Prepaid expenses 22,224
$ 1.325.810
See accompanying notes to financial statements.
Exhibit B
Liabilities and Fund Balance
Accounts payable $ 14,916
Payroll taxes accrued and withheld 8,043
Accrued annual leave 7,815
Deposits held 5,000
Due to City of Kodiak 5,334
Due to other funds:
Fire District Fund Number 1 $ 7,387
Capital Projects Fund 418,324
Karluk Fire District Fund 1,810
Total due to other funds 427,521
Total liabilities 468,629
Fund balance:
Appropriated:
1977 -78 operating expenditures 104,837
Hospital operation 100,381
Working capital 100,000
305,218
Unappropriated 551,963
Total fund balance 857,181
0
Contingent liabilities (notes 3 and 6)
$ 1,325,810
Exhibit C
Fund balance,
July 1, 1976
Add revenues
Deduct expend-
itures
Transfer to appro-
priated fund
balance
Fund balance,
June 30, 1977
KODIAK ISLAND BOROUGH
General Fund
Statement of Changes in Fund Balance
Year ended June 30, 1977
Appropriated
1977 -78
operating Hospital Working
Total Unappropriated expenditures operations capital
$ 506,532 340,296 80,000 51,236 35,000
1,919,446 1,919,446 - - -
2,425,978 2,259,742 80,000 51,236 35,000
1,568,797 1,568,797 - - -
857,181 690,945 80,000 51,236 35,000
(138,982
$ 857.181 551,963
24,837 49,145 65,000
104,837 100,381 100,000
See accompanying notes to financial statements.
Exhibit D
KODIAK ISLAND BOROUGH
General Fund
Statement of Estimated and Actual Revenues
Year ended June 30, 1977
See accompanying notes to financial statements.
Actual
over (under)
Estimated
Actual
estimated
Taxes:
Real and personal property taxes
$ 954,360
1,019,727
65,367
Penalty and interest on taxes
5,000
9,928
4,928
Payments in lieu of taxes
-
3,144
3,144
959,360
1,032,799
73,439
Licenses and permits:
Building and trailer permits
6,000
7,122
1,122
Subdivision fees
550
762
212
6,550
7,884
1,334
Revenues from use of money and property:
Interest
7,000
16,514
9,514
Rent from leased land
15,000
17,232
2,232
Forestry
5,000
3,102
(1,898)
Office Building expense reimbursement
48,947
58,184
9,237
Miscellaneous reimbursement of costs
2,000
2,405
405
77,947
97,437
19,490
Revenues from State of Alaska:
Outer continental shelf grant
36,000
35,767
(233)
Local service roads and trails
175,000
120,064
(54,936)
Raw fish tax
65,000
79,834
14,834
Business license refund
24,000
19,463
(4,537)
Electric co- operative tax
5,000
12,744
7,744
Cost of living allowance
-
12,307
12,307
Shared revenues:
Hospital
50,000
86,932
36,932
Land use planning
15,802
15,129
(673)
Health facilities
35,000
37,338
2,338
Day care assistance
30,000
43,073
13,073
435,802
462,651
26,849
Contribution of interest from other funds:
Capital Projects Fund
5,000
2,369
(2,631)
Debt Service Fund
12,000
12,694
694
17,000
15,063
(1,937
Contributions from other funds:
Land Sales Fund
34,290
34,290
-
Capital Projects Fund
-
6,500
6,500
34,290
40,790
6,500
Transfer of the School District General
Fund fund balance (note 5)
-
262,822
262,822
$ 1,530,949
1,919,446_
388,497
See accompanying notes to financial statements.
Exhibit E
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures - Budget and Actual
Year ended June 30, 1977
Borough assembly:
Assembly travel
Assembly compensation
Budget Actual
$ 6,103
11,047
4,200
3,800
10,303
14,847
Over (under)
budget
4,944
(400
4,544
Legal department:
Borough attorney
Court costs
Litigation allowance
Capital expenditures:
Furniture and fixtures
Office machines
Karluk Spit
General government operations:
Employee expense:
Salaries:
Chairman
Manager
Clerk- treasurer
Secretary
Bookkeeper
Cashier -clerk typist
Extra help
Chairman's expense
Employment security taxes
Social security taxes
Insurance and bonding
Group insurance
Professional development training
Dues and publications
Publication of hearings
Postage
Office supplies
Telephone and telegraph
Repairs and maintenance of machines
Equipment rental
Transportation and travel
Vehicle operation and maintenance
Post audit
Elections
Contractual services
Carried forward
12,000
25,748
500
-
2,000
-
14,500
25,748
5,000
6,177
3,000
5,148
-
5,000
8,000
16,325
13,748
(500)
(2,000
11,248
1,177
2,148
5,000
8,325
600
450
(150)
-
24,183
24,183
22,632
17,917
(4,715)
12,228
12,523
295
12,276
14,019
1,743
12,561
12,430
(131)
1,000
641
(359)
2,000
1,404
(596)
1,160
1,928
768
3,064
4,559
1,495
2,500
2,434
(66)
908
945
37
1,230
1,261
31
4,200
3,415
(785)
1,700
1,931
231
2,700
3,074
374
3,000
6,765
3,765
2,500
4,131
1,631
2,000
1,916
(84)
4,900
5,747
847
1,155
1,118
(37)
1,500
1,350
(150)
23,000
23,774
774
7,000
6,806
(194)
5,000
1,200
(3,800
130,814
155,921
25,107
2 Exhibit E, Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures - Budget and Actual, Continued
Over (under)
Budget
Actual
budget
Brought forward
$ 130,814
155,921
25,107
Working capital
65,000
-
(65,000)
Termination reserve
3,000
2,845
(155)
Board and commission expenses
500
528
28
199,314
159,294
( 40,020 )
Assessment department:
Salaries:
Director
20,068
21,812
1,744
Assistant assessor
12,860
8,838
(4,022)
Administrative assistant
12,420
13,333
913
Clerk typist
9,972
7,266
(2,706)
Professional development and training
1,000
910
(90)
Professional services
220
379
159
Contractual services
1,000
287
(713)
Advertising
150
366
216
Printed matter and forms
1,700
3,438
1,738
Subscriptions and books
700
234
(466)
Office supplies
1,400
912
(488)
Repairs and maintenance
200
200
-
Transportation and travel
3,500
2,369
(1,131)
Rentals - vehicles and aircraft
900
1,350
450
Telephone and telegraph
50
8
(42)
Employment security taxes
870
1,150
280
Social security taxes
2,205
2,665
460
Insurance and bonding
1,084
807
(277)
Termination reserve
1,200
-
(1,200
71,499
66,324
(5,175
Planning and zoning commission:
Salaries:
Planner
25,200
2,324
(22,876)
Zoning administrator
10,000
9,696
(304)
Building inspector
15,800
15,800
-
Secretary
11,430
7,286
(4,144)
Building inspector travel expense
3,000
3,206
206
Engineering services
2,700
2,327
(373)
Contractual services
5,000
4,681
(319)
Advertising
2,500
714
(1,786)
Maps
2,000
3,607
1,607
Operating expenses
2,325
3,094
769
Commission meetings
960
122
(838)
Termination reserve
1,500
-
(1,500
Carried forward
82,415
52,857
( 29,558 )
3 Exhibit E, Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures - Budget and Actual, Continued
Over (under)
(Continued)
Budget
Actual
budget
Brought forward
$ 82,415
52,857
(29,558)
Employment security taxes
290
912
622
Social security taxes
895
1,965
1,070
Insurance and bonding
250
290
40
83,850
56,024
( 27,826 )
Health and sanitation:
Drug abuse
2,000
2,000
-
Health expenses
1,000
-
(1,000)
Comprehensive health board
1,500
-
(1,500)
Senior citizens
7,500
7,500
-
Support of Detoxification Center
13,000
13,000
-
Support of Halfway House
18,000
18,000
-
Support of Health Clinic
800
1,107
307
Support of Mental Health Center
4,000
4,000
-
Hospital insurance
7,000
-
(7,000)
Day care assistance
30,000
43,073
13,073
Equipment
2,000
-
(2,000
86,800
88,680
1,880
Local service roads and trails
175,000
114,000
( 61,000 )
Office building expenses:
Snow removal
4,000
4,000
-
Maintenance
4,233
5,817
1,584
Janitorial
23,822
30,735
6,913
Utilities
27,402
33,673
6,271
Major repairs
10,000
-
(10,000)
Insurance
6,150
3,310
(2,840)
Miscellaneous
3,081
3,562
481
78,688
81,097
2,409
Debt Service Fund Contributions:
Sinking Fund payment
15,000
15,000
-
Interest
14,650
14,626
(24)
Fiscal agent fees
200
161
(39)
School District debt service
176,085
189,578
13,493
205,935
219,365
13,430
Capital Projects Fund Contribution
-
50,707
50,707
Support of Kodiak Island Borough School
District General Fund
611,000
611,000
-
(Continued)
4 Exhibit E, Cont.
KODIAK ISLAND BOROUGH
General Fund
Statement of Expenditures - Budget and Actual, Continued
Outer continental shelf expenses:
Public information input gathering
Transportation
Printing of reports
Program coordinator
Clerical services
Staff support and meeting facilities
Contracted services
Contingencies
Total expenditures
19,210 12,768 (6,442
$ 1,610,949 1,568,797 ( 42 152
See accompanying notes to financial statements.
Over (under)
Budget
Actual
budget
$ 8,150
3,316
(4,834)
4,000
2,889
(1,111)
2,000
5,868
3,868
4,100
3,758
(342)
-
1,768
1,768
-
2,820
2,820
28,600
32,199
3,599
46,850
52,618
5,768
19,210 12,768 (6,442
$ 1,610,949 1,568,797 ( 42 152
See accompanying notes to financial statements.
Exhibit F
KODIAK ISLAND BOROUGH
Federal Revenue Sharing Fund
Balance Sheet
June 30, 1977
Assets
Time certificates of deposit $ 88,376
Federal Revenue Sharing entitlement receivable 19,640
Accrued interest receivable 780
$ 108,796
Liabilities, Encumbrances and Fund Balance
Due to other funds:
Capital Projects Fund 84,207
Borough General Fund 13,184
Total liabilities 97,391
Encumbrances outstanding 2,614
Fund balance 8,791
$ 108,796
See accompanying notes to financial statements.
Exhibit G
KODIAK ISLAND BOROUGH
Federal Revenue Sharing Fund
Statement of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balance
Year ended June 30, 1977
Revenues:
Federal Revenue Sharing entitlement
Interest income
Total revenues
Expenditures and encumbrances:
Capital outlay - health (including
encumbrances of $2,614)
Operations and maintenance - health
Total expenditures and
encumbrances
Excess of revenues over
expenditures and encumbrances
Fund balance, July 1, 1976
Fund balance, June 30, 1977
Actual
over (under)
Budget Actual budget
$ 34,000 74,964 40,964
- 5,651 5,651
34,000 80,615 46,615
- 26,136
26,136
34,000 45,688
11,688
34,000 71,824
37,824
8,791 8,791
(2,879 - 2,879
$ 2 879 8,791 11,670
See accompanying notes to financial statements.
Exhibit H
KODIAK ISLAND BOROUGH
Anti- recession Fund
Statement of Revenue, Expenditure and
Changes in Fund Balance
Year ended June 30, 1977
Fund balance, July 1, 1976 $ -
Revenue - anti - recession entitlement 14,012
14,012
Expenditure - salaries 14,012
Fund balance, June 30, 1977 $ -
See accompanying notes to financial statements.
Exhibit I
KODIAK ISLAND BOROUGH
Land Sales Fund
Balance Sheet
June 30, 1977
Assets
Cash, including $162,446 of time certificates of deposits
Notes receivable (bearing interest at 6% or 87) resulting
from land sales
Liabilities, Encumb rances and Fund Balance
Due to other funds:
School District General Fund $ 4,500
Borough General Fund 13,217
Capital Projects Fund _72.650
Encumbrances outstanding
Fund balance:
Appropriated for survey and appraisal 53,690
Appropriated for 1977 -78 operating expenditures 131,500
Unappropriated 571,897
Total fund balance
$ 755,001
93,426
$ 848,427
90,367
973
757,087
$ 848,427
See accompanying notes to financial statements.
Exhibit J
KODIAK ISLAND BOROUGH
Land Sales Fund
Statement of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balance
Year ended June 30, 1977
Revenues:
Land sales
Interest income
Total revenues
Expenditures and encumbrances:
Island Lake water and sewer expenses
(including encumbrances of $973)
Land sales expenses
Contribution to Borough General Fund
Contribution to Capital Projects Fund
Total expenditures and encumbrances
Excess of revenues over expenditures
and encumbrances
Fund balance, July 1, 1976
Fund balance, June 30, 1977
Actual
over (under)
Budget Actual budget
$ 56,290 99,721 43,431
- 43,418 43,418
56,290 143,139 86,849
- 9,875 9,875
- 248 248
34,290 34,290 -
22,000 22,000 -
56,290 66,413 10,123
76,726 76,726
721,612 680,361 ( 41,251 )
$ 721.612 757.087 35,475
See accompanying notes to financial statements.
Exhibit K
KODIAK ISLAND BOROUGH
Fire and Road District Funds
Balance Sheets
June 30, 1977
Assets
Total Fire Karluk
all District Fire
funds Number 1 District
$ 9,197 7,387 1.810
Bells Flats
Road
District
Due from Borough General Fund
Liabilities and Fund
Balances (Deficit)
Due to Borough General Fund
Fund balances (deficit):
Appropriated for 1977 -78 operating
expenditures
Unappropriated
Total fund balances
(deficit)
Total liabilities and
fund balances
9,471
-
- 9,471
565
-
565 -
(839
7,387
1,245 ( 9,471 )
(274
7,387
1,810 ( 9,471 )
$ 9,197
7,387
1,810 -
See accompanying notes to financial statements.
Exhibit L
KODIAK ISLAND BOROUGH
Fire and Road District Funds
Statements of Budgeted and Actual Revenues,
Expenditures and Changes in Fund Balance (Deficit)
Year ended June 30, 1977
See accompanying notes to financial statements.
Actual
over (under)
Budget
Actual
budgeted
Fire District Number 1:
Revenues:
Real and personal property taxes
$
36,022
37,915
1,893
State revenue sharing
9,728
10,979
1,251
45,750
48,894
3,144
Expenditures - contracted fire services
47,750
47,750
-
Excess of revenues over
expenditures
(2,000)
1,144
3,144
Fund balance, July 1, 1976
150
6,243
6,093
Fund balance, June 30, 1977
$
1 850
_7,387
9,237
Karluk Fire District:
Revenues:
State revenue sharing
705
796
91
Other
50
-
(50
755
796
41
Expenditures - equipment maintenance
inspection and replacement
1,320
-
1,320
Excess of revenues over
expenditures
(565)
796
1,361
Fund balance, July 1, 1976
151
1,014
863
Fund balance, June 30, 1977
$
414
1,810
2,224
Bells Flats Road District:
Revenues:
Real and personal property taxes
25,000
2,521
(22,479)
State revenue sharing
10,800
12,925
2,125
35,800
15,446
(20,354)
Expenditures - contracted services
35,800
23,070
12,730
Excess of expenditures over
revenues
-
7,624
7,624
Fund deficit, July 1, 1976
-
1,847
1,847
Fund deficit, June 30, 1977
$
-
9,471
9,471
See accompanying notes to financial statements.
Exhibit M
KODIAK ISLAND BOROUGH
Debt Service Fund
Balance Sheet
June 30, 1977
Assets
Time certificate of deposit
Cash with fiscal agent
Due from Capital Projects Fund
Accrued interest receivable
$ 165,000
27,005
30,252
6,600
$ 228,857
Liabilities and Fund Balance
Matured bond coupons
Due to other funds:
School District General Fund
Borough General Fund
Fund balance
Contingent liability (note 3)
27,005
$ 30,000
6,852 36,852
165,000
$ 228,857
See accompanying notes to financial statements.
Exhibit N
KODIAK ISLAND BOROUGH
Debt Service Fund
Statement of Revenues, Expenditures and
Changes in Fund Balances
Year ended June 30, 1977
Fund balances, July 1, 1976
Revenues:
Borough General Fund contributions
School District General Fund contribution
School District Tobacco Tax Fund contributions
Interest income
Expenditures:
Principal
Interest
Fiscal agent's fees
Contribution to Borough General Fund
Fund balances, June 30, 1977
Total Schools Hospital
$ 150,000 - 150,000
219,365 189,578 29,787
157,424 157,424 -
73,508 73,508 -
12,694 - 12,694
462,991 420,510 42,481
160,000 160,000 -
274,039 259,413 14,626
1,258 1,097 161
12,694 - 12,694
447,991 420,510 27,481
$ 165.000 - 165.000
See accompanying notes to financial statements.
Exhibit 0
KODIAK ISLAND BOROUGH
Capital Project Funds
Balance Sheet
June 30, 1977
Assets
Cash $ 746
Due from other funds:
Borough General Fund $ 418,324
Federal Revenue Sharing Fund 84,207
Land Sales Fund 72.650 575,181
$ 575,927
Liabilities, Encumbrances and Fund Balances
Contracts payable 184,425
Accounts payable 5,620
Due to Debt Service Fund 30,252
Total liabilities 220,297
Encumbrances outstanding 279,729
Fund balances 75,901
$ 575.927
See accompanying notes to financial statements.
Exhibit P
Fund balance, July 1, 1976
Add revenues:
HUD discretionary funds
Interest income
Contributions from other funds:
Borough General Fund
Land Sales Fund
Hill- Burton and state grant
funds
Deduct expenditures and
encumbrances:
Transfer of interest income
to Borough General Fund
Sanitary landfills
Economic Development
Administration planning
Contribution to Borough
General Fund
Hospital:
Fire doors
Extended care unit
Borough landscaping
Encumbrances
Total deductions
Fund balances (deficit)
June 30, 1977
KODIAK ISLAND BOROUGH
Capital Project Funds
Statement of Revenues, Expenditures, Encumbrances and
Changes in Fund Balances (Deficit)
Year ended June 30, 1977
2,369 2,369
- - - -
Sanitary
255,783 -
Landscaping
Outer
Economic
- - - -
5,700
landfills
Hospital
and Borough
Continental
Development
-
Kodiak
and water
improvements
building
Shelf
Administration
Total
High School
systems
( note 4
remodeling
planning
planning
$ 168,003
162,441
5,562
-
-
-
-
225,900
-
225,900
-
-
-
-
2,369
2,369
-
-
-
-
-
50,707
-
24,321
-
26,386
-
-
22,000
-
-
-
-
6,500
15,500
1,900,000
-
-
1,900,000
-
-
-
2,368,979
164,810
255,783
1,900,000
26,386
6,500
15,500
2,369 2,369
- - - -
-
255,783 -
255,783 - - -
-
5,700 -
- - - -
5,700
6,500 -
- - - 6,500
-
240 -
- 240 - -
-
1,732,071 -
- 1,732,071 - -
-
10,686
- - 10,686 -
-
279,729 -
- 254,729 15,700 -
9,300
2,293,078 2,369
255,783 1,987,040 26,386 6,500
15,000
$ 75,901 162,441
- (87,040) - -
500
See accompanying notes to financial statements.
Exhibit Q
KODIAK ISLAND BOROUGH
Kodiak Aleutian Mental Health Center
Balance Sheet
June 30, 1977
Assets
Cash, including $40,000 of time certificates of deposit $ 78,982
Patients' receivables $ 23,500
Less allowance for doubtful receivables 13,080
Net patients' receivables 10,420
Accrued interest receivable 550
Furniture and equipment, at cost 26,291
$ 116.243
Liabilities and Fund Balance
Accounts payable 616
Payroll taxes accrued and withheld 6,070
Due to State of Alaska 1,865
Due to federal government 5,613
Due to Borough General Fund 201
14,365
Fund balance:
Investment in fixed assets 26,291
Unappropriated 75,587
Total fund balance 101,878
$ 116.243
See accompanying notes to financial statements.
Exhibit R
KODIAK ISLAND BOROUGH
Kodiak Aleutian Mental Health Center
Statement of Changes in Fund Balance
Year ended June 30, 1977
Investment
Fund balance, July 1, 1976
Add excess of revenues over expenditures
Add furniture and equipment purchases
Fund balance, June 30, 1977
See accompanying notes to financial statements.
in f ixed
Total
Unappropriated
assets
$ 76,879
58,579
18,300
17,008
17,008
-
7,991
-
7,991
$ 1 01 878
75.587
26,291
See accompanying notes to financial statements.
Exhibit S
KODIAK ISLAND BOROUGH
Kodiak Aleutian Mental Health Center
Statement of Revenues and Expenditures
Year ended June 30, 1977
Revenues:
From local sources:
Kodiak Island Borough $ 4,000
Fees for services 58,951
In -kind donations 11,158
Other 3,997
Total revenues from local sources 78,106
From state for community mental health services 111,675
From federal grant 21,017
Total revenues 210,798
Expenditures:
Employee expenses:
Salaries $ 108,473
Payroll taxes 8,144
Insurance 1,290
Staff training and travel 3,709
Relocation and interview expense 756
Total employee expenses $ 122,372
Equipment rental
2,317
Printing and advertising
447
Insurance and bonding
1,519
Office rent
8,400
Office supplies
626
Postage
485
Professional and scientific supplies
1,917
Telephone and telegraph
3,669
Hospital
2,744
Center program
11,753
Provision for doubtful receivables
11,397
Repairs and maintenance
94
Contracted services:
Accountant
7,600
Psychiatrist
5,712
Furniture and equipment
7,991
Conventions and meetings
4,221
Psychological testing services
461
Other
65
Total expenditures
193,790
Excess of revenues over expenditures S 17.008
See accompanying notes to financial statements.
Exhibit T
KODIAK ISLAND BOROUGH
School District
General Fund
Balance Sheet
June 30, 1977
Assets
Cash $ 137,264
Accounts receivable:
State of Alaska $ 438,373
Local 55,505
Total accounts receivable 493,878
Due from Kodiak Island Borough:
Debt Service Fund 30,000
Land Sales Fund 4,500
Total due from Kodiak Island Borough 34,500
Due from School District Special Revenue Funds 31,245
Inventories:
Central stores 39,308
Custodial supplies 14,885
Total inventories 54,193
Prepaid insurance 7,659
$ 758,739
Liabilities and Encumbrances
Accounts payable 37,235
Payroll taxes accrued and withheld 82,417
Accrued annual leave 18,257
Accrued teachers' payroll 261,445
Public employees' retirement payable 7,283
Due to Borough General Fund 255,026
Due to other School District Funds:
Student Activity Funds 2,639
Tobacco Tax Fund 700 3,339
Encumbrances outstanding:
Prior year 4,835
Current year (including $19,923 in central store's
inventory) 88,902
Total encumbrances outstanding 93,737
$ 758,739
See accompanying notes to financial statements.
Exhibit U
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Changes in Fund Balance
Year ended June 30, 1977
Fund balance, July 1, 1976 $ 70,181
Deduct excess of expenditures and encumbrances over revenues:
Expenditures and encumbrances 6,000,433
Revenues 5,930,252
70,181
Fund balance, June 30, 1977 $
See accompanying notes to financial statements.
Exhibit V
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Estimated and Actual Revenues
Year ended June 30, 1977
Actual
over (under)
Estimated
Actual
estimated
Local sources:
Kodiak Island Borough:
Annual appropriation
$ 611,000
611,000
-
Custodial and office maintenance
contract
26,400
18,140
(8,260)
Prior year deficit
(64,676)
-
64,676
Rentals:
Village teacherages
10,575
12,950
2,375
Dorm apartments
-
6,970
6,970
Head start
1,125
564
(561)
K -Hi -C (Boat Rental)
14,500
13,800
(700)
Admissions to events and school
activities reimbursments
5,000
3,454
(1,546)
Tuition Community College
3,000
-
(3,000)
Car sale
2,500
-
(2,500)
Reserves
61,500
-
(61,500)
KXMT
14,889
14,889
-
Other
2,000
8,474
6,474
Fund raising - junior high
8,305
6,519
(1,786
Total local sources
696,118
696,760
642
State sources:
Foundation program:
Regular
3,725,040
3,696,996
(28,044)
Vocational education
246,510
246,456
(54)
Special education
493,020
520,296
27,276
Correspondence
54,780
82,152
27,372
Impact funds (Mini 874)
21,750
13,424
(8,326)
Pupil transportation
117,609
128,642
11,033
Tuition
213,728
240,843
27,115
Boarding home assistance
60,000
54,193
(5,807)
State aid for retirement of school
construction debt
180,700
157,424
(23,276)
Contracted base school repairs
12,069
4,630
(7,439
Total state sources
5,125,206
5,145,056
19,850
(Continued)
2
KODIAK ISLAND BOROUGH
School District
General Fund
Exhibit V, Cont.
Statement of Estimated and Actual Revenues, Continued
Federal sources:
Public Law 874
Cancellation of prior year encumbrances
Services performed by Kodiak Island
Borough (in -kind)
Retroactive insurance rate adjustment
for life insurance
182,000 59,889 ( 122,111 )
- 17,737 17,737
- 10,810 10,810
5,000 - (5,000
$ 6,008,324 5,930.252 78 072
See accompanying notes to financial statements.
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Expenditures and Encumbrances - Budget and Actual
Year ended June 30, 1977
Regular instruction:
Certificated salaries
Classified salaries
Substitute teachers' salaries
Employee benefits:
Employee insurance
FICA contributions
Retirement contributions - teachers
Retirement contributions - public employees
Travel
Teaching supplies
Instructional media:
Textbooks
Library books
Periodicals
Other instructional media
Equipment
Repairs and maintenance
Small tools and equipment
Gas and oil
Mileage allowance
Other
Total regular instruction
Actual
Budget
Expenditures
Encumbrances
Totals
$ 2,130,795
2,086,333
-
2,086,333
30,770
22,160
-
22,160
36,582
36,577
-
36,577
55,757
42,540
-
42,540
3,904
3,464
-
3,464
147,969
151,783
-
151,783
3,240
1,398
-
1,398
5,142
1,685
385
2,070
66,712
56,591
8,563
65,154
29,895
25,339
3,394
28,733
9,263
8,391
1,210
9,601
1,593
1,313
125
1,438
5,680
-
-
-
31,411
10,330
14,290
24,620
345
255
-
255
4,150
2,134
830
2,964
575
487
-
487
-
487
-
487
1,000
-
-
-
2,564,783
2,451,267
28,797
2,480,064
(Continued)
Pa
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Expenditures and Encumbrances - Budget and Actual, Continued
Exhibit W. Cont.
Actual
Actual
over (under)
Budget
Expenditures
Encumbrances
Totals
budget
Vocational education:
Certificated salaries
195,292
205,892
-
205,892
10,600
Classified salaries
9,208
5,486
-
5,486
(3,722)
Watchman
630
630
-
630
-
Employee benefits:
Employee insurance
4,792
5,719
-
5,719
927
FICA contributions
595
321
-
321
(274)
Retirement contributions - teachers
13,776
13,976
-
13,976
200
Retirement contributions - public employees
721
296
-
296
(425)
Teaching supplies
15,350
10,223
1,220
11,443
(3,907)
Instructional media:
Textbooks
1,362
1,671
363
2,034
672
Periodicals
100
44
-
44
(56)
Other instructional media
17,350
18,349
-
18,349
999
Equipment
43,946
39,489
2,180
41,669
(2,277)
Repairs and maintenance
7,475
3,970
3,802
7,772
297
Buildings
1,000
1
-
1,158
158
Maintenance supplies
3,220
1,991
138
2,129
(1,091)
Small tools and equipment
7,220
3,237
370
3,607
(3,613)
Boat insurance
6,107
5,452
-
5
(655)
Slip rental
160
818
-
818
658
Electricity
70
181
-
181
ill
Gas and oil
1,150
812
338
1,150
-
Miscellaneous expenses
1,200
-
-
-
(1,200
Total vocational education
330,724
319,715
8,411
328,126
(2,598
(Continued)
t
3 Exhibit W, Cont
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Expenditures and Encumbrances - Budget and Actual, Continued
Actual
Budget
Expenditures
Encumbrances
Totals
Correspondence:
Management and professional services
$ 7,875
8,024
-
8,024
Regular teachers
25,580
25,580
-
25,580
Employee benefits:
Employee insurance
596
764
-
764
FICA contributions
-
38
-
38
Retirement contributions - teachers
2,372
2,372
-
2,372
Professional and technical services
1,000
652
140
652
Communications
200
60
-
200
Travel
1,800
1,428
-
1,428
Other purchased services
399
399
-
399
Teaching supplies
5,000
5,746
-
5,746
Instructional media
7,700
7,489
-
7,489
Equipment
1,148
1,712
-
1,712
Total correspondence
53,670
54,264
140
54,404
Special instruction:
Certificated salaries
274,429
256,493
-
256,493
Classified salaries
59,582
48,173
-
48,173
Employee benefits:
Employee insurance
11,821
5,287
-
5,287
FICA contributions
3,837
2,885
-
2,885
Retirement contributions - teachers
18,232
16,851
-
16,851
Retirement contributions - public employees
6,097
2,697
-
2,697
Professional and technical services
1,800
620
-
620
Travel
6,314
4,444
-
4,444
Teaching supplies
7,912
6,456
638
7,094
Instructional media:
Textbooks
2,804
1,637
623
2,260
Library books
1,058
240
-
240
Periodicals
352
12
66
78
Other instructional media
500
491
-
491
Equipment
2,500
2,286
176
2,462
Office supplies
200
34
-
34
Small tools and equipment
500
-
-
-
Total special instruction
397,938
348,606
1,503
350,109
(Continued)
4
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Expenditures and Encumbrances - Budget and Actual, Continued
Supporting services - pupils:
Certificated salaries
Classified salaries
Employee benefits:
Employee insurance
FICA contributions
Retirement contributions - teachers
Retirement contributions - public employees
Travel
Follow thru survey
Instructional media
Postage
Teaching supplies
Other supplies
Health services
Boarding Home Program
Equipment
Total supporting services - pupils
porting services - instruction:
Managerial and professional salaries
Certificated salaries
Classified salaries
Employee benefits:
Employee insurance
FICA contributions
Retirement contributions - teachers
Retirement contributions - public employees
Professional and technical services
Travel
Other purchased services
Teaching supplies
Office supplies
Instructional media
Equipment
Other supplies
Tuition reimbursement
Repairs and maintenance
Total supporting services - instruction
Exhibit W. Cont.
Actual
Budget
Expenditures
Encumbrances
Totals
$ 96,958
96,323
-
96,323
19,111
18,175
-
18,175
3,871
2,348
-
2,348
1,567
1,561
-
1,561
7,758
7,338
-
7,338
2,821
3,110
-
3,110
5,780
4,454
-
4,454
1,500
1,500
-
1,500
300
288
-
288
208
208
-
208
1,100
1,284
-
1,284
1,510
470
-
470
25,070
21,583
-
21,583
60,000
52,873
3,216
56,089
500
505
58
563
228,054
212,020
3,274
215,294
39,375
29,824
-
29,824
38,006
39,907
-
39,907
39,106
36,312
-
36,312
2,677
2,297
-
2,297
1,937
2,141
-
2,141
5,487
5,487
-
5,487
3,486
3,428
-
3,428
16,078
6,526
-
6,526
920
177
-
177
-
43
-
43
6,900
1,336
6,750
8,086
3,447
3,087
540
3,627
30,516
18,758
306
19,064
14,415
14,188
75
14,263
-
113
-
113
6,000
1,903
1,672
3,575
6,500
4,475
3,040
7,515
214,850
170,002
12,383
182,385
(Continued)
5
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Expenditures and Encumbrances - Budget and Actual, Continued
Exhibit W, Cont.
Actual
Budget
Expenditures
Encumbrances
Totals
General support services:
Managerial and professional salaries
$ 225,550
225,043
-
225,043
Regular head teachers
8,744
8,641
-
8,641
Classified salaries
242,707
241,262
-
241,262
Employee benefits:
Employee insurance
17,344
10,795
-
10,795
Workmen's compensation
68,990
42,049
-
42,049
FICA contributions
14,198
14,679
-
14,679
Retirement contributions - teachers
17,972
15,814
-
15,814
Retirement contribution - public employee
71,689
26,439
-
26,439
Professional and technical services
3,550
1,734
-
1,734
Legal fees
12,000
4,163
-
4,163
Insurance (fidelity bond)
1,302
1,119
-
1,119
Postage
9,412
9,229
-
9,229
Tuition
-
(80)
_
(80)
Travel
24,508
23,281
974
24,255
Office supplies
10,089
8,572
883
9,455
Equipment
-
72
134
206
Other supplies
100
64
-
64
Professional literature
700
624
-
624
Repairs and maintenance
3,990
2,697
-
2,697
Printing and publishing
4,874
4,096
96
4,192
Miscellaneous expense
300
324
5
329
Rentals
13,399
8,950
962
9,912
Pool supplies
-
454
-
454
Warehouse inventory
-
581
-
581
Small tools and equipment
300
295
-
295
Diplomas
500
348
-
348
Dues and fees
5,135
5,300
-
5,300
Total general support services
757,353
656,545
3,054
659,599
(Continued)
6
Exhibit W, Cont.1
KODIAK ISLAND BOROUGH
School District
General Fund
Statement of Expenditures and Encumbrances - Budget and Actual, Continued
Actual
Operation and maintenance of plant:
Managerial and professional salaries
Classified salaries
Employee benefits:
Employee insurance
FICA contributions
Retirement contributions - public employees
Insurance (property and liability)
Rentals
Utilities:
Fuel for heating
Other utilities
Contracted repairs and maintenance
Maintenance supplies
Janitorial supplies
Gas and oil
Equipment
Telephone
Travel
Office supplies
Small tools and equipment
Repairs
Freight to villages
Total operation and maintenance of plant
Pupil transportation
Nonprogrammed charges:
High school students' activities
Junior high students' activities
Adult and continuing education
Contribution to Borough Debt Service Fund
Special Revenue Funds
Total nonprogrammed charges
Community services
Dorm apartments
Clearing accounts
Services performed by Kodiak Island Borough (in -kind)
Transfer of fund balance to Borough (note 5)
Totals
See accompanying notes to financial statements.
Budget
$ 44,000
354,549
18,184
23,158
40,053
41,554
9,668
163,410
160,693
25,327
70,000
17,000
5,000
32,575
27,485
9,720
100
675
3,000
1,046,151
131,405
65,391
9,805
12,500
180,700
268,396
15,000
$ 6,008,324
Expenditures
Encumbrances
Totals
43,949
-
43,949
359,377
-
359,377
7,377
-
7,377
22,549
-
22,549
32,715
-
32,715
48,386
-
48,386
11,783
-
11,783
164,551
4,492
169,043
169,556
-
169,556
19,837
-
19,837
73,863
2,706
76,569
19,466
1,096
20,562
2,517
-
2,517
10,882
21
10,903
27,804
-
27,804
14,222
2,408
16,630
16
-
16
58
-
58
2,500
-
2,500
4,455
-
4,455
1,035,863
10 ,723
1,046,586
142,172 - 142,172
Actual
over (under
budget
(51)
4,828
(10,807)
(609)
(7,338)
6,832
2,115
5,633
8,863
(5,490)
6,569
3,562
(2,483)
(21,672)
319
6,910
(84)
(617)
2,500
1,455
10,767
58,371
603 58,974
(6,417)
8,949
91 9,040
(765)
12,500
- 12,500
-
157,424
- 157,424
(23,276)
13,520
- 13,520
13,520
250,764
694 251,458
(16,938
15,000
- 15,000
-
2,331
- 2,331
2,331
(727)
- (727)
(727)
10,810
- 10,810
10,810
262,822
- 262,822
262,822
5,931,454
68,979 6,000,433
7 891
Exhibit X
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Balance Sheet
June 30, 1977
Assets
Accounts receivable:
State of Alaska. $ 138,004
Federal government 86,656
Other 1,258
225,918
Prepaid insurance 224
$ 226.142
Liabilities and Encumbrances
Accounts payable 5,310
Accrued payroll 18,998
Payroll withholdings 7,270
Due to federal government 73,730
Due to other School District funds:
School District General Fund 31,245
Cafeteria Fund 150 31,395
Advances received toward programs 1,142
Total liabilities 137,845
Encumbrances outstanding:
Prior year 17,881
Current year 30,572 48,453
Fund balance - Continuing Education (CE2) 39,844
$ 226,142
See accompanying notes to financial statements.
Exhibit Y I
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances
Year ended June 30, 1977
Upward Bound:
Fund balance, July 1, 1976
Revenues from federal sources through Kodiak Area
Native Association
Expenditures:
Certificated salaries
Health insurance
Retirement contributions - teachers
Printing and duplicating
Total expenditures
Fund balance, June 30, 1977
Youth Employment Services (YES):
Fund balance, July 1, 1976
Revenues from federal sources through State of Alaska
Expenditures:
Classified salaries
FICA taxes
Telephone
Total expenditures
Fund balance, June 30, 1977
Adult Basic Education:
Fund balance, July 1, 1976
Revenues
Expenditures
Fund balance, June 30, 1977
Actual
Budget Expenditures Encumbrances Total
4,360
3,803
3,803
187
75
270
285
100
43
4,360
4,206
,,
4,480 -
4,218
2,721
246
159
16
113
4,480
2,993
- 67,887
(Continued)
4,206
3,803
75
285
43
4,206
L, 773
2,721
159
113
2,993
o /,aa/
67,887
Actual
over (under)
budget
(154)
(112)
15
(57
(154
k1, 40/
(1,497)
(87)
97
(1,487
b/, OZ5/
67,887
2
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Actual
Budget
Expenditures
Encumbrances
Total
O.I.N.S.:
Fund balance, July 1, 1976
$
-
-
-
-
Revenues from federal sources through State of Alaska
12,000
-
-
11,847
Expenditures and encumbrances:
Classified salaries
5,200
5,543
-
5,543
FICA taxes
310
324
-
324
Retirement contributions - public employees
740
584
-
584
Intra- district travel
250
59
-
59
Teaching supplies
2,750
2,379
385
2,764
Instructional equipment
2,750
436
2,218
2,654
Total expenditures and encumbrances
12,000
9,325
2,603
11,928
Cancellation of prior year encumbrances
-
(81
-
(81
Fund balance, June 30, 1977
$
ATKA students:
Fund balance, July 1, 1976
-
-
-
-
Revenues from State of Alaska
18,090
-
-
16,361
Expenditures, contracted services
18,090
16,361
-
16,361
Fund balance, June 30, 1977
$
Community problem solving:
Fund balance, July 1, 1976
-
-
-
-
Revenues from State of Alaska
-
-
-
3,155
Expenditures, contracted services
-
3,155
-
3,155
Fund balance, June 30, 1977
$
-
(Continued)
C
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Continuing Education Programs (CE2):
Fund balance, July 1, 1976
Revenues from federal sources through the State of Alaska:
Foundation
Expenditures and encumbrances:
Management and professional salaries
Certificated salaries
Classified salaries, regular
Classified salaries, temporary
Health insurance
Workmen's compensation
FICA taxes
Retirement contributions - teachers
Retirement contributions - public employees
Instructional services
Postage
Telephone
Property insurance
Liability insurance
Rentals
Tuition
Intra- district travel
Out -of- district travel
Mileage reimbursement
Electricity
Heating fuel
Water and sewer
Expenditures and encumbrances,
carried forward
Exhibit Y, Cont.
Actual
Actual over (under)
Budget Expenditures Encumbrances Total budget
180,153
-
- 191,688
11,535
31,000
28,500
- 28,500
(2,500)
71,993
64,015
- 64,015
(7,978)
16,402
21,502
- 21,502
5,100
2,485
1,508
- 1,508
(977)
300
2,568
- 2,568
2,268
1,456
1,187
- 1,187
(269)
959
1,517
- 1,517
558
7,251
6,557
- 6,557
(694)
-
1,848
- 1,848
1,848
4,700
3,220
- 3,220
(1,480)
512
512
- 512
-
1,215
815
- 815
(400)
190
190
- 190
-
2,710
2,710
- 2,710
-
4,200
2,128
- 2,128
(2,072)
1,093
250
- 250
(843)
-
48
- 48
48
7,250
3,796
- 3,796
(3,454)
1,150
473
- 473
(677)
850
1,995
- 1,995
1,145
931
748
- 748
(183)
175
175
- 175
-
156,822
146,262
- 146,262
( 10,560 )
4 Exhibit Y, Cont.
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of'Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Expenditures and encumbrances,
brought forward
Repairs and maintenance
Teaching supplies
Maintenance supplies
Janitorial supplies
Office supplies
Gas and oil
Textbooks
Periodicals
Other instructional media
Audio /visual equipment
Instructional equipment, except audio /visual
Office equipment
Other equipment
Total expenditures and encumbrances
Cancellation of prior year expenditures
Fund balance, June 30, 1977
Boarding Home Program:
Fund balance, July 1, 1976
Revenues from State of Alaska
Expenditures and encumbrances:
Management and professional salaries
Out -o£- district travel
Stipends
Total expenditures and encumbrances
Fund balance, June 30, 1977
Actual
Actual
over (under)
Budget
Expenditures
Encumbrances
Total
budget
$ 156,822
146,262
-
146,262
(10,560)
1,200
12
56
68
(1,132)
6,345
1,873
-
1,873
(4,472)
325
325
-
325
-
165
165
-
165
-
1,900
293
-
293
(1,607)
1,472
927
-
927
(545)
1,327
724
194
918
(409)
327
34
-
34
(293)
950
312
-
312
(638)
828
-
-
-
(828)
7,652
102
-
102
(7,550)
590
129
4,074
4,203
3,613
250
64
-
64
(186
180,153
151,222
4,324
155,546
( 24,607 )
-
(3,702
-
(3,702
(3,702
$
-
-
39,844
39,844
-
-
38
22,364
22,326
2,000
2,000
-
2,000
-
3,226
2,124
1,566
3,690
464
17,100
16,674
-
16,674
(426
22,326
20,798
1,566
22,364
38
(Continued)
5
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenu
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Actual
Budget Expenditures Encumbrances Total
Indian Education Act, 1976 -77:
Fund balance, July 1, 1976
Revenues from federal sources
Expenditures:
Management and professional salaries
Certificated salaries
Classified salaries
Employee benefits
Recreation director
Office expense
Intra- district travel
Out -of- district travel
Television rental
Teaching supplies
Food
Textbooks
Other instructional media
Small tools and equipment
Local transportation
Miscellaneous
Total expenditures
Fund balance, June 30, 1977
Indian Education Act, 1975 -76 (carryover):
Fund balance, July 1, 1976
Revenues from federal sources
Expenditures and encumbrances:
Certificated salaries
Stipends
Rentals
Intra- district travel
Out -of- district travel
Teaching supplies
Instructional media
Equipment
Total expenditures and encumbrances
Cancellation of prior year encumbrances
Fund balance June 30, 1977
Actual
over (under)
budget
117,372
-
- 70,797
( 46,575 )
5,355
-
- -
(5,355)
19,500
19,015
- 19,015
(485)
35,625
24,620
- 24,620
(11,005)
10,720
4,768
- 4,768
(5,952)
4,800
3,343
- 3,343
(1,457)
2,000
818
- 818
(1,182)
14,500
8,328
- 8,328
(6,172)
500
816
- 816
316
500
-
- -
(500)
872
98
- 98
(774)
17,000
7,636
- 7,636
(9,364)
-
832
- 832
832
-
3
- 3
3
1,000
-
- -
(1,000)
1,000
524
- 524
(476)
4,000
(4
- (4
(4,004
117,372
70,797
- 70,79
(46,575)
38,391
-
-
25,394
( 12,997 )
400
400
-
400
-
4,500
4,500
-
4,500
-
150
150
-
150
-
4,126
5,946
-
5,946
1,820
3,800
1,557
-
1,557
(2,243)
1,785
65
2,087
2,152
367
9,692
100
8,751
8,851
(841)
13,938
-
2,466
2,466
( 11,472 )
38,391
12,718
13,304
26,022
( 12,369 )
-
(628
-
(628
-
(Continued)
6
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Rural Secondary Schools' Forum:
Fund balance, July 1, 1976
Revenues from local sources
Expenditures:
Administration cost
Intra- district travel
Out -of- district travel
Total expenditures
Fund balance, June 30, 1977
Title VI B (Old Harbor):
Fund balance, July 1, 1976
Revenues from federal sources through State of Alaska
Expenditures and encumbrances:
Certified salaries
Health insurance
Workmen's compensation
Employment contributions - teachers
Instruction services
Intra- district travel
Out -of- district travel
Teaching supplies
Total expenditures and encumbrances
Fund balance, June 30, 1977
Title IV C:
Fund balance, July 1, 1976
Revenues from federal sources through State of Alaska
Expenditures:
Teaching supplies
Instructional equipment
Total expenditures
Fund balance, June 30, 1977
Exhibit Y, Cont. I
Actual
Budget Expenditures Encumbrances Total
- - 13,828
- 376 - 376
- 133 - 133
- 13,319 - 13,319
- 13,828 - 13,828
Actual
over (under)
budget
13,828
376
133
13,319
13,828
30,895
- 23,563
(7,332
-
18,100
15,697
- 15,697
(2,403)
800
471
- 471
(329)
200
157
- 157
(43)
1,400
1,113
- 1,113
(287)
4,680
4,425
- 4,425
(255)
1,375
90
- 90
(1,285)
2,340
495
- 495
(1,845)
2,000
1,115
- 1,115
(885
30,895
23,563
- 23,563
(7,332
C u
4,000 - - 3,901 (99
47 61 - 61 14
3,953 3,840 - 3,840 (113
4,000 3,901 - 3,901 (99
$ - - - - -
(Continued)
7
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Title I:
Fund balance, July 1, 1976
Revenues from federal sources through State of Alaska
Expenditures:
Management and professional salaries
Certificated salaries, regular
Certificated salaries, temporary
Classified salaries
Health and life insurance
FICA taxes
Retirement contributions - teachers
Retirement contributions - public employees
Teaching supplies
Summer plant operation and maintenance
Transportation
In- service education
Total expenditures
Fund balance, June 30, 1977
Title III, On the Job Training:
Fund balance, July 1, 1976
Revenues:
Revenues from federal sources through State of Alaska
Contribution from General Fund
Total revenues
Expenditures:
Management salaries
Classified salaries, temporary
FICA taxes
Workmen's compensation
Total expenditures
Fund balance, June 30, 1977
Exhibit Y, Cont. i
17,107
17,107
- 8,233 (8,874)
- - 78 78
8,311 (8,796
1,619
-
14,080
Actual
824
Actual
584
over (under)
Budget
Expenditures Encumbrances
Total
budget
96,558
- -
88,683
(7,875
4,000
4,000 -
4,000
-
46,300
45,201 -
45,201
(1,099)
5,558
- -
-
(5,558)
35,700
28,423 -
28,423
(7,277)
-
1,684 -
1,684
1,684
-
1,663 -
1,663
1,663
-
3,205 -
3,205
3,205
-
2,993 -
2,993
2,993
2,000
1,514 -
1,514
(486)
1,000
- -
-
(1,000)
1,000
- -
-
(1,000)
1
- -
-
(1,000
96,558
88,683 -
88,683
(7,875
17,107
17,107
- 8,233 (8,874)
- - 78 78
8,311 (8,796
1,619
-
14,080
7,778
824
455
584
78
17,107
8,311
(1,619)
- 7,778
(6,302)
- 455
(369)
- 78
(506
- 8,311
(8,796)
(Continued)
8
Exhibit Y, Cont.
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
itle IV:
Fund balance, July 1, 1976
Revenues:
From federal sources through State of Alaska
Contribution from General Fund
Total revenues
Expenditures and encumbrances:
Certificated, managerial and professional salaries
Classified salaries
Employee benefits
Professional /technical services
Intra- district travel
Out -of- district travel
Teaching supplies
Office supplies
Telephone
Instructional media
Teaching equipment
Office equipment
Miscellaneous expense
Total expenditures and encumbrances
Fund balance, June 30, 1977
Vocational Rehabilitation:
Fund balance, July 1, 1976
Revenues from federal sources through State of Alaska
Expenditures - salaries
Fund balance, June 30, 1977
Actual
Budget Expenditures Encumbrances Total
Actual
over (under)
budget
78,000
-
- 73,648
(4,352)
-
-
- 60
60
78,000
-
- 73,708
(4,292
28,500
28,500
- 28,500
-
11,208
10,792
- 10,792
(416)
5,440
5,102
- 5,102
(338)
6,965
4,776
- 4,776
(2,189)
2,900
2,808
- 2,808
(92)
4,657
4,185
- 4,185
(472)
3,715
4,235
- 4,235
520
800
625
- 625
(175)
1,400
1,045
- 1,045
(355)
6,347
5,471
331 5,802
(545)
4,270
4,263
- 4,263
(7)
1,198
1,160
- 1,160
(38)
600
415
- 415
(185
78,000
73,377
331 73,708
(4,292
- - - 4,744 4,744
- - 4,744 4,744
(Continued)
9
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Career Education:
Fund balance, July 1, 1976
Revenues from state sources
Expenditures and encumbrances:
Certificated salaries
Classified salaries
Release time
Health insurance
FICA taxes
Retirement contributions - teachers
Retirement contributions - public employees
Other professional and technical services
Stipends
Intra- district travel
Out -of- district travel
Office supplies
Photo materials and supplies
Project discovery
Office equipment
Total expenditures and encumbrances
Fund balance, June 30, 1977
Out -of -State Tuition:
Fund balance, July 1, 1976
Revenues from federal sources
Expenditures and encumbrances:
Tuition
Room and board
Out -of- district travel
Total expenditures and encumbrances
Fund balance, June 30, 1977
Actual
Budget Expenditures Encumbrances
88,080 - -
Exhibit Y. Cont.
Actual
_ over (under)
Total budget
86,656 (1,424
27,875
28,560
-
28,560
685
17,500
17,675
-
17,675
175
210
210
-
210
-
2,235
960
-
960
(1,275)
1,300
1,046
-
1,046
(254)
2,200
2,027
-
2,027
(173)
2,150
1,867
-
1,867
(283)
4,170
6,871
-
6,871
2,701
13,053
4,027
6,203
10,230
(2,823)
450
272
75
347
(103)
2,942
2,723
91
2,814
(128)
200
220
-
220
20
3,500
2,619
914
3,533
33
4,550
9,116
435
9,551
1
745
600
145
745
-
88,080
78,793
7,863
86,656
(1,424
10,800
-
-
11,151
351
3,600
3,600
-
3,600
-
7,200
7,200
-
7,200
-
-
171
180
351
351
10,800
10,971
180
11,151
351
(Continued)
10
KODIAK ISLAND BOROUGH
School District
Special Revenue Funds
Combined Statements of Budgeted and Actual Revenues,
Expenditures, Encumbrances and Changes in Fund Balances, Continued
Bilingual Bicultural Program:
Fund balance, July 1, 1976
Revenues from federal sources through State of Alaska
Expenditures and encumbrances:
Management /professional salaries
Certificated salaries
Employee benefits
Contracted services
Out -of- district travel
Teaching supplies
Equipment
Total expenditures and encumbrances
Fund balance, June 30, 1977
Miscellaneous 1975 -76 Special Revenue Funds:
Fund balance, July 1, 1976
Contribution from General Fund
Prior year unreimbursed expenditures
Cancellation of prior year encumbrances
Fund balances, June 30, 1977
Title IV B:
Fund balance, July 1, 1976
Revenue from federal sources through State of Alaska
Expenditures:
Instructional media
Audio - visual equipment
Total expenditures
Fund balance, June 30, 1977
Exhibit Y, Cont. '
See accompanying notes to financial statements.
Actual
Actual
over (under)
Budget
Expenditures
Encumbrances
Total
budget
37,750
-
-
31,416
(6,334
4,000
4,000
-
4,000
-
22,100
22,092
-
22,092
(8)
2,470
2,500
-
2,500
30
4,750
-
-
-
(4,750)
2,000
1,081
-
1,081
(919)
1,530
612
231
843
(687)
900
730
170
900
-
37,750
31,015
401
31,416
(6,334
13,382
-
13,382
13,382
-
-
15,556
-
15,556
15,556
-
(2,174
-
(2,174
(2,174
$
-
-
-
-
-
-
(53
13,413
13,516
7,878
7,644
-
7,644
(234)
5,638
5,819
-
5,819
181
13,516
13,463
-
13,463
(53
See accompanying notes to financial statements.
Exhibit Z
KODIAK ISLAND BOROUGH
School District
Cafeteria Fund
Balance Sheet
June 30, 1977
Assets
Cash $ 16,540
Accounts receivable 71
Due from State of Alaska 1,865
Inventory, including $14,116 of USDA food inventory 25,776
Due from School District Special Revenue Funds 150
$ 44.402
Fund Balance
Fund balance $ 44.402
See accompanying notes to financial statements.
KODIAK ISLAND BOROUGH
School District
Cafeteria Fund
Statement of Budgeted and
Actual Revenues and Expenditures
Year ended June 30, 1977
Revenues:
Food sales
Contributions from federal government for
food expenditures
Reserve for cafeteria remodeling
Reserve for retirement
Indian Education Act
Food commodities donated by federal
government
Miscellaneous income
Total revenues
Expenditures:
Cost of food used
Salaries
Employee benefits
Equipment
Supplies
Utilities
Repairs and maintenance
Other
Total expenditures
Excess of expenditures
over revenues
Actual
over (under)
Budget Actual budget
$ 70,799 58,902 (11,897)
23,362 41,442 18,080
5,010 - (5,010)
1,149 - (1,149)
- 6,299 6,299
-
13,571
13,571
-
1,078
1,078
100,320
121,292
20,972
27,311
57,270
29,959
55,483
58,337
2,854
12,016
11,448
(568)
200
39
(161)
1,310
2,594
1,284
-
836
836
4,000
1,552
(2,448)
-
381
381
100,320
132,457
32,137
$ -
ll.lb5
11.165
See accompanying notes to financial statements.
Exhibit BB
KODIAK ISLAND BOROUGH
School District
Cafeteria Fund
Statement of Changes in Fund Balance
June 30, 1977
Fund balance, July 1, 1976
Additions (deductions):
Excess of expenditures over revenues
Appropriation for purchase of freezers
Fund balance, June 30, 1977
Total Unappropriated Appropriated
$ 55,567 50,557 5,010
(11,165) (11,165) -
5,010 ( 5,010 )
$ 44,402 44.402 -
See accompanying notes to financial statements.
Exhibit CC
KODIAK ISLAND BOROUGH
School District
Tobacco Tax Fund
Balance Sheet
June 30, 1977
Assets
Cash $ 145
Due from School District General Fund 700
$ 845
Fund Balance
Fund balance
Statement of Revenues, Expenditures and
Changes in Fund Balance
Year ended June 30, 1977
Fund balance, July 1, 1976
Revenues:
State of Alaska revenue sharing
Interest
Less contribution to Borough Debt Service Fund
Fund balance, June 30, 1977
$ 845
145
$ 73,508
_00 74,208
74,353
73,508
$ 845
See accompanying notes to financial statements.
Exhibit DD
KODIAK ISLAND BOROUGH
School District
Student Activity Funds
Balance Sheets
June 30, 1977
Junior
Assets
Cash
Time certificate of deposit
Due from School District General Fund
High high
Total school school
$ 21,073 16,569 54
3,000 - 3,000
2,639 2, -
$ 26.712 19.20 3.054
Elementary
schools
4,450
4,450
Liabilities, Encumbrances and
Fund Balances
Accounts payable
Encumbrances outstanding
Fund balances
270 270 -
77 77 -
26,365 18,861 3,054
$ 26,712 19.208 3,054
4,450
4.450
See accompanying notes to financial statements.
KODIAK ISLAND BOROUGH
School District
Student Activity Funds
Statement of Revenues, Expenditures, Encumbrances and
Changes in Fund Balances (Deficits)
Year ended June 30, 1977
Fund balances Fund balances
(deficits) Expend- Encum- (deficits)
July 1, 1976 Revenues itures brances June 30, 1977
High school:
Student council
$ 4,111
7,272
6,824 -
4,559
Athletics
2,204
25,038
24,759 -
2,483
Music
560
3,860
4,031 -
389
Publications
203
7,208
4,619 -
2,792
Classes
1,050
2,980
2,828 -
1,202
Clubs:
Art
50
-
- -
50
Auto
(187)
14
- -
(173)
Cheerleaders
538
1,546
1,930 -
154
Continuing Educa-
tion (CE2)
6
392
355 -
43
Drama
95
79
126 -
48
Drill Team
(210)
-
- -
(210)
Elwani - Foxfires
(157)
9,118
8,874 77
10
Future Business
Leaders
4
439
- -
443
Future Homemakers
20
-
- -
20
Girls' Athletic
Association
4
-
- -
4
Matmaids
465
1,675
1,769 -
371
Metals
792
1,822
19 -
2,595
National Honor
Society
179
-
110
69
Pep
320
915
992 -
243
Photo
237
-
- -
237
Survey
11
81
50 -
42
U.I.C.A.
109
36
32 -
113
Video Tape Recorder
160
-
- -
160
Wood Shop
314
1,332
908 -
738
High school pictures
(19)
665
36 -
610
Resale items
830
190
190 -
830
Alumni games
-
232
- -
232
Miscellaneous
317
7,039
6,549 -
807
Total high
school
12,006
71,933
65,001 77
18,861
(Continued)
2
Exhibit EE, Cont.
KODIAK ISLAND BOROUGH
School District
Student Activity Funds
Statement of Revenues, Expenditures, Encumbrances and
Changes in Fund Balances (Deficits), Continued
Fund balances Fund balances
(deficits) Expend- Encum- (deficits)
July 1, 1976 Revenues itures brances June 30, 1977
Junior high school:
Student council
52
1,831
1,783 -
100
Picture Fund
68
132
200 -
-
Yearbook
422
1,276
1,494 -
204
Athletics
2,282
15,707
15,882 -
2,107
Clubs:
Band
453
-
453 -
-
Cheerleaders
25
176
179 -
22
Girls' Athletic
Association
(132)
13,900
13,768 -
-
Journalism
216
36
188 -
64
Resale items
-
2,076
2,076 -
-
Miscellaneous
155
865
463 -
557
Total junior
high school
3,541
35,999
36,486 -
3,054
Elementary schools
2,140
11,882
9,572 -
4,450
$ 17.687
119.814
111.059 77
26.365
See accompanying notes to financial statements.
Fvhihit FF
KODIAK ISLAND BOROUGH
Statement of General Long -term Debt
June 30, 1977
Amount Available and to be Provided
for the Payment of General Long -term Debt
Term bonds:
Amount available in Debt Service Fund $ 165,000
Amount to be provided 135,000
300,000
Serial bonds - amount to be provided 3,995,000
$ 4 295.000
General Long -term Debt Payable
Term bonds payable 300,000
Serial bonds payable 3,995,000
$ 4,295.000
See accompanying notes to financial statements.
KODIAK ISLAND BOROUGH
Schedule of Bonds Payable
June 30, 1977
See accompanying notes to financial statements.
Final
Annual
General
Interest
Issue
maturity
serial
payments
Obligation Bonds
Rate
Date
date
date
Amount
Date
Term bonds - hospital
building
4.875%
11 /1;
5/1
5/1/67
5/1/87
$ -
-
Serial bonds - school
building
3.625
9/1;
3/1
3/1/65
1/1/79
20,000
1978
25,000
1979
3.875
9/1;
3/1
3/1/65
3/1/85
25,000
1980 -1985
5.75
9/1;
3/1
1/1/67
9/1/78
25,000
1977
50,000
1978
5.00
9/1;
3/1
1/1/67
9/1/88
50,000
1979 -1987
5.00
8/1;
2/1
4/1/74
8/1/85
120,000
1977
125,000
1978
130,000
1979
140,000
1980
145,000
1981
150,000
1982
160,000
1983
195,000
1984
210,000
1985
7.25
8/1;
2/1
8/1/74
8/1/92
215,000
1986
235,000
1987
250,000
1988
270,000
1989
290,000
1990
310,000
1991
330,000
1992
See accompanying notes to financial statements.
Exhibit GG
Boni
Authorized Issued
$ 300,000 300,000
350,000 315,000
150,000 150,000
300,000 300,000
450,000 450,000
1,650,000 1,650,000
Fund balance - Term Bonds
Is Over (under)
Retired Outstanding Requirement Actual requirement
- 300,000 165,000 165,000 -
270,000 45,000 - - -
- 150,000 - - -
225,000 75,000 - - -
- 450,000 - - -
275,000 1,375,000 - -
1,900,000 1,900,000 - 1,900,000
4,800,000 4
4,765,000 7
770,000 3
3,995,000 -
KODIAK ISLAND BOROUGH
Notes to Financial Statements
June 30, 1977
(1) Summary of Significant Accounting Policies
Basis of Presentation
The Kodiak Island Borough, including the Kodiak Island Borough School District,
uses the modified accrual method of accounting in which expenditures other
than accrued interest on general long -term debt are recorded at the time
liabilities are incurred and the revenues are recorded when received in
cash, except for material revenues which are accrued to properly reflect
revenues earned.
Tnvantnriaa
Inventories are valued at the lower of cost (first -in, first -out) or market
(net realizable value), except for the USDA food inventory which is
recorded in the Cafeteria Fund at replacement market.
Retirement Plans
All full -time employees of the Kodiak Island School District participate in
either the Public Employee's Retirement System (PERS) or the Teachers' Re-
tirement System (TRS). The District accrues pension expense which includes
current costs and amortization of prior service cost. The policy is to
fund pension cost accrued.
Annual Leave
Annual leave is accrued as earned by employees and recorded as an expenditure
in the period earned.
(2) Retirement Plans
Total pension expense under PERS and TRS relating to employees of the Kodiak
Island School District covered by the accompanying financial statements for
the year ended June 30, 1977 is as follows:
PERS $ 120,213
TRS 233,165
$ 353.378
The School District's portion of the actuarially computed value of vested
benefits for PERS as of July 1, 1975 (the date of the latest available
actuarial report) for past service benefits is $247,952.
The School District's portion of the actuarially computed value of vested
benefits over the total of the pension fund for TRS is not available as all
employer contributions are commingled. As of June 30, 1976, (the latest
date information is available) the funding ratio of TRS was approximately
55 %.
(Continued)
2
KODIAK ISLAND BOROUGH
Notes to Financial Statements
Contributions to these plans are a percentage of eligible gross wages made by
both the employer and employee as follows:
1976 -77 1977 -78
PERS TRS PERS TRS
Employee 4.25% 7.00 4.25 7.00
School District 10.53 7.09 9.43 6.70
Total 14.78 14.09 13.68 13.70
(3) Refunding Bonds
During 1974 and 1975, the Borough issued "refunding bonds" of $4,000,000 and
$2,350,000, respectively. The proceeds from the "refunding bonds" have
been invested in U. S. Government securities at an interest rate which will
result in a return of proceeds that when added to the securities principal
balances will be sufficient to meet the interest and principal require-
ments. Accordingly, the investments in the securities and the current
bonds payable obligations of $3,635,000 and $2,275,000 are not reflected in
the financial statements.
(4) Capital Projects - Hospital Improvements
The deficit in the Hospital Capital Project Fund results from encumbrances
which did not result in any related revenues. It is anticipated the fund-
ing for the encumbrances will be received as the actual expenditures occur.
Estimated additional revenues available for this project are:
Hill- Burton and State of Alaska grants $ 282,981
Kodiak Island Borough revenues
required to receive grants 26,538
$ 309.519
(5) Transfer of School District Fund Balance
Effective July 1, 1977, the Kodiak Island Borough Assembly adopted a cen-
tralized treasury for the Kodiak Island Borough and School District.
Concurrently, the Assembly required the transfer of the School District's
General Fund fund balance to the Borough's General Fund. In the financial
statements, the transfer has been recorded as of June 30, 1977, since it is
anticipated such a transfer will be required annually.
(6) Contingency
The Borough and the Grey Nuns of the Sacred Heart implemented an operating
agreement whereby the Grey Nuns are operating the Borough -owned hospital
(Continued)
3
KODIAK ISLAND BOROUGH
Notes to Financial Statements
for five years which commenced March 1, 1975. As consideration for the
operational and administrative services furnished by the Grey Nuns, the
Borough agreed to fund any cumulative deficit incurred by the Grey Nuns
resulting from operation of the Hospital; however, any amounts contributed
by the Borough are to be repaid should the deficit be recovered from sub-
sequent operations. Further, the Borough agreed to pay some hospital
insurance premiums, budget a maximum of $60,000 each year for reasonably
anticipated operating deficits and to distribute such amount at periodic
intervals should deficits occur.