CAFR FY1994KODIAK ISLAND BOROUGH
KODIAK ALASKA
1994
COMPREHENSIVE
ANNUAL
FINANCIAL
REPORT
JULY 1, 1993- JUNE 30, 1994
1 KODIAK ISLAND BOROUGH
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1994
L TABLE
OF CONTENTS
2
INTRODUCTORY SECTION
'
Changes in Fund Balance - All Governmental Fund Types and
EXHIBIT PAGE
ELECTED OFFICIALS ( PHOTOGRAPHS) ........................................................................
............................... v
BOROUGHOFFICIALS ........................................................................ ...............................
............................vii
BOARDS AND COMMITTEES ............................................................ ...............................
........................... viii
MAP OF KODIAK ISLAND BOROUGH ............................................................................
............................... x
GFOA CERTIFICATE OF ACHIEVEMENT .....................................................................
............................... xi
1
ORGANIZATIONALCHART ...........................................................................................
............................... xii
LETTER OF TRANSMITTAL .........................................................................................
............................... xiii
FINANCIAL SECTION
EXHIBIT PAGE
INDEPENDENT AUDITOR'S REPORT ..........................................................................
............................... 1
GENERAL PURPOSE FINANCIAL STATEMENTS
' ADDITIONAL INFORMATION
COMBINING, INDIVIDUAL FUND AND ACCOUNT GROUP
i FINANCIAL STATEMENTS AND SCHEDULES
GENERAL FUND:
Comparative Balance Sheets ....................................................................... ............................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
Combined Balance Sheet - All Fund Types, Account Groups and Discretely
PresentedComponent Units .......................................................................... ..............................1
2
Combined Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance - All Governmental Fund Types and
Discretely Presented Component Unit ........................................................... ..............................2
6
Combined Statement of Revenues, Expenditures, Transfers and
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 Discreetly Presented Component Unit ..............4
11
1
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
i FINANCIAL STATEMENTS AND SCHEDULES
GENERAL FUND:
Comparative Balance Sheets ....................................................................... ............................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, 1994
TABLE OF CONTENTS (continued)
C -1
63
Combining Statement of Revenues, Expenses
EXHIBIT
PAGE
SPECIAL REVENUE FUNDS:
C -2
64
'
CombiningBalance Sheet .......................................................................... ............................... B -1
42
Combining Statement of Revenues, Expenditures, Transfers
Changes in Fund Balance - Budget and Actual:
and Changes in Fund Balance .....................................................................
............................B -2
44
65
Statement of Revenues, Expenditures, Transfers and
Other..................................................................................................... ...............................
C-4
66
Changes in Fund Balance - Budget and Actual:
CAPITAL PROJECTS FUNDS:
Fire and Road Service Districts:
Fire:
CombiningBalance Sheet ............................................................................. ............................D
Combining Statement of Revenues, Expenditures,
-1
68
Area1 .......................................................................................... ............................... B -3
46
-2
Women's Bay .............................................................. ...............................
Road:
•................ B-4
47
-3
MonashkaBay ............................................................................. ...............................
B -5
48
District1 ...................................................................................... ...............................
B-6
49
District2 ...................................................................................... ..........................:....
B -7
50
Women's Bay ..................................................................................
............................B -8
51
BayView .................................................................................... ...............................
B -9
52
Mental Health Center ................................................................. ...............................
Mental Health Center - Schedule of Expenditures ............................. ...............................
B -10
B -11
53
54
Energy /Coastal Management ........................................................... ...............................
B -12
55
DayCare ...............................................................................................
LandSales ............................................................................................
...........................B -13
...........................B -14
56
57
Buildingsand Grounds .........................................................................
...........................B -15
58
Woodland Acres Lighting .....................................................................
...........................B -16
59
Community and Regional Affairs ...................................................... ...............................
B -17
60
Oil Spill Cleanup .............................................................................. ...............................
B -18
61
DEBT SERVICE FUNDS:
CombiningBalance Sheet .......................................................................... ...............................
C -1
63
Combining Statement of Revenues, Expenses
Transfers, and Changes in Fund Balance ................................................. ...............................
C -2
64
Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance - Budget and Actual:
Bonds.................................................................................................... ...............................
C -3
65
Other..................................................................................................... ...............................
C-4
66
CAPITAL PROJECTS FUNDS:
CombiningBalance Sheet ............................................................................. ............................D
Combining Statement of Revenues, Expenditures,
-1
68
Transfers and Changes in Fund Balances .................................................... ............................D
-2
70
Schedule of Capital Projects .......................................................................... ............................D
-3
72
s
ii I
�J
k
1
1
KODIAK ISLAND BOROUGH
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1994
TABLE OF CONTENTS (continued)
EXHIBIT PAGE
PROPRIETARY FUNDS - ENTERPRISE FUNDS:
CombiningBalance Sheet .......................................................................... ............................... E -1 76
Statement of Revenues, Expenses, Transfers
and Changes in Retained Earnings ........................................................... ............................... E -2 78
Combining Statement of Cash Flows .......................................................... ............................... E -3 79
Sanitary Services:
Comparative Balance Sheets .................................................................... ............................... E-4 80
Statement of Revenues, Expenses, Transfers and Changes
in Retained Earnings - Budget and Actual .............................................. ............................... E -5 81
Comparative Statements of Cash Flows .................................................... ............................... E-6 82
Water:
Comparative Balance Sheets .................................................................... ............................... E -7 83
Statement of Revenues, Expenses, Transfers and Changes
in Retained Earnings - Budget and Actual .............................................. ............................... E -8 84
Comparative Statements of Cash Flows ........................ ............................... ............................E -9 85
Sewer:
Comparative Balance Sheets .................................................................. ............................... E -10 86
Statement of Revenues, Expenses, Transfers and Changes
in Retained Earnings - Budget and Actual ............................................ ............................... E -11 87
Comparative Statements of Cash Flows .................................................. ............................... E -12 88
PROPRIETARY FUNDS - INTERNAL SERVICE FUND
Balance .......................................................................................... ............................... F -1 89
Statement of Revenues, Expenses and Changes in
inRetained Earnings .............................................................................. ............................... F -2 90
Comparative Statements of Cash Flows .................................................... ............................... F -3 91
AGENCY FUNDS:
Combining Statement of Changes in Assets and Liabilities ........................... ............................G -1 93
GENERAL FIXED ASSETS ACCOUNT GROUP:
Schedule of Fixed Assets by Source ....................
Schedule of General Fixed Assets by Function and Activity .......................... ............................H -2 97
Schedule of Changes in General Fixed Assets by
Functionand Activity .................................................................................. ............................H -3 99
lu
KODIAK ISLAND BOROUGH
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1994
TABLE OF CONTENTS (continued)
E)&MIT PAGE
GENERAL LONG -TERM DEBT ACCOUNT GROUP:
Schedule of General Long -Term Debt ............................................................ ............................I -1 101
ADDITIONAL INFORMATION - BONDED INDEBTEDNESS:
Summary of Bonded Debt Service Requirements to Maturity ....................... ............................... J -1 103
General Obligation School Improvement Bonds, 1991 Series A .................. ............................... J -2 104
General Obligation School Refunding Bonds, Series 1989 ............................. ............................J -3 105
General Obligation Bonds, 1994 Series A ................................................... ............................... J-4 106
General Obligation Bonds, 1993 Series A ................................................... ............................... J -5 107
Asbestos Removal Loan Payable ................................................................. ............................... J-6 108
STATISTICAL SECTION
IV
[l
I
TABLE
PAGE
STATISTICAL TABLES:
General Governmental Expenditures and Other Uses
by Function - Last Ten Fiscal Years ..............................................................
..............................1
109
General Revenues by Source - Last Ten Fiscal Years ....................................... ..............................2
110
Property Tax Levies and Collections -
LastTen Fiscal Years .................................................................................... ..............................3
111
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years ...................................................................
..............................4
112
Property Tax Rates - All Overlapping Governments -
LastTen Fiscal Years ................................................................................... ..............................5
113
TenLargest Property Taxpayers .....................................................................
..............................6
114
Ratio of Net General Bonded Debt - Last Ten Fiscal Years ............................. ..............................7
115
Computation of Direct and Overlapping Debt .................................................
..............................8
116
Computation of Legal Debt Margin .................................................................
..............................9
117
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures and Transfers -
LastTen Fiscal Years ...................................................................................
.............................10
118
Demographic Statistics - Last Ten Fiscal Years ............................................ ...............................
11
119
Salaries and Surety Bonds of Principal Officials .............................................
.............................12
120
Property Value, Construction and Bank Deposits -
LastTen Fiscal Years ...................................................................................
.............................13
121
Miscellaneous Statistical Data -
LastTen Fiscal Years ...................................................................................
.............................14
122
IV
[l
I
INTRODUCTORY SECTION
Annual Report • Kodiak Island Borough, Alaska
- ASSEMBLY MEMBERS-
To the Honorable Mayor and Members of the Kodiak Island Borough Assembly:
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, 1994, and the related
statements and statistical tables.
Respectfully submitted,
'4. 4'4- -jo-
Karleton G. Short, Finance Director
JEROME M. SELBY
Mayor of Kodiak Island Borough, 1995
GORDON L. GOULD
At Large, 1994
ALAN D. AUSTERMAN
At Large, 1995
Deputy Presiding Officer
SUZANNE J. HANCOCK
At Large, 1996
JOHN BURT
At Large, 1996
JACK L. McFARLAND
At Large, 1996
Presiding Officer of Assembly
MICHAEL R. MILLIGAN
At Large, 1994
MARY A. MONROE
At Large, 1995
fl
1
Ll
1
it
t
KODIAK ISLAND BOROUGH
BOROUGH OFFICIALS
YEAR ENDED JUNE 30, 1994
BOROUGH ASSEMBLY
John Burt `96 Michael R Milligan'94
Gordon J. Gould '94 Mary A. Monroe '95
Suzanne J. Hancock'96 Alan Austerman'95 (Deputy Presiding Officer)
Jack L. McFarland '96 (Presiding Officer)
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
Edwin Myers ......................................................................................... ...............................
.:.. Hospital Administrator
Bruce F. Johnson .............................................................................. ...............................
Superintendent, School District
CherylBolger ................................................................................................
............................... ................. Accountant
BarbaraTempleton ........................................................................... ...............................
..................... Purchasing Agent
Vii
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 1994
School Board (7)
* Alice Knowles
Will Walton
Pat Tabon
Norm Wooten
Kyle Shaffer, CG Rep.
Jeff Stephan
Lane Schmelzenbach, Stud. Rep.
Hospital Advisory Board (9)
Ben Ardinger
Loren Halter
Gil Bane
Alan Austerman, Assembly Rep.
Dr. Lane Reinehart- Linden, Chief of Staff
Gretchen Saupe
* Betty Springhill
Wayne Stevens
John Shauk
Ed Myers, KIH Staff, ex -officio
Mental Health Center Advisory
Board 9
Virginia Sargent
Rosario Bermisa
Katherine Gravino
Judy Carstens
Laurel Vorachek
Mike Milligan, Assembly Rep.
Josepruna Rosales
Karen Perkins, KAMI rep, ex -officio
* Ron Woitel
Letitia Raub
Guy Snyder, CG rep, ex- officio
Martin White, MHC Director, ex -officio
Jan Pennington, KIB staff
Planning and Zoning Commission (7)
Bruce Barrett
Shawn "Tuck" Bonney
* Jerrol Friend
Patricia Szabo
Jeff Knauf
Renato Asuncion
Woodland Acres Street Lighting
Service District Advisory Board (3)
Bob Hatcher
Barbara Heinrichs
* Sharon Nault
Citizen Board of Equalization (5)
* Jim Carmichael
Tim Hurley
Craig Fanning
Will Walton
William Roberts
Woody Koning, Alternate
Donna Smith, KIB staff
Parks and Recreation Committee (12)
Forrest Blau
Barbara Heinrichs
Claire Holland, State Rep., ex-officio
Ian Fulp, City Rep., ex- officio
Kyle Shaffer, School Bd. Rep., ex -officio
Suzanne Hancock, Assembly Rep.
* David Odell
Gloria Wiechmann
Melissa Robinson
Jane Spicciani
Linda Freed, KIB staff
2 vacancies
Building Code Board of Appeals/
(Architectural Review Board) (9)
Gerald Cloudy
John Burt, Assembly Rep.
* Woody Koning
Ed Mahoney
Tom Templeton
Eric Ness
Kyle Shaffer, School Board Rep.
Scott Bonney
Betty Walters, KIBSD
Steve Hobgood, KIB staff
Personnel Advisory Board (5)
Craig N. Fanning
Katharine Gravino
* Dorothy Weeks
Christine Jamin, Chairperson
Clay Koplin
Rachael Miller, KIB staff
1
1
71
I
�J
Viii
t
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 1993
Data Processing Steering
Committee (9)
Ed Myers
Bill Oliver
Jack McFarland
Perry Page
* Jerome Selby
Karleton Short
Jocelyn Zwiefelhofer
Martin White
One vacancy
Monashka Bav Road Service District
Fire Protection Area #1
Advisory Board (5)
* Scott Arndt
Greg Spalinger
Charles Lorenson
John Shank
Bill Swearingin
r Bav
View Road Service District
Advisory Board (5)
Dawn Black
Colleen Helligoso
Jim Schauff
Ken Minks
* Reed Oswalt
Monashka Bav Road Service District
1
1
Emereencv Services Council (5)
Tom Barrett, Capt. USCG
* Gary Bloomquist
Carolyn Floyd
Jerome Selby
Jack McFarland
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 Bav Service District
Advisory Board (7)
Jean Barber
John Burt
* David Conrad
George Lee
Edward Gondek
Laurie Madsen
Robert Tarrant
Kodiak Island Transportation Studv
Steering Committee (KITS)
John Sullivan
Matt Holmstrom
Gary Bloomquist
Dave Crowe
Carolyn Floyd
Jerome Selby
Jack McFarland, Assembly Rep
Airport 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 Schleifer
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
Advisory Board (5)
* Roger Blacket
Mark Withrow
Jeff Hamer
Gregg Razo
Mitch Hull
1
1
Emereencv Services Council (5)
Tom Barrett, Capt. USCG
* Gary Bloomquist
Carolyn Floyd
Jerome Selby
Jack McFarland
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 Bav Service District
Advisory Board (7)
Jean Barber
John Burt
* David Conrad
George Lee
Edward Gondek
Laurie Madsen
Robert Tarrant
Kodiak Island Transportation Studv
Steering Committee (KITS)
John Sullivan
Matt Holmstrom
Gary Bloomquist
Dave Crowe
Carolyn Floyd
Jerome Selby
Jack McFarland, Assembly Rep
Airport 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 Schleifer
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 ll!Row
,� PRUDHO£ MY
x
G3�
�.(j NOME
NORTON SOUK
WE
AR r
cm CIRCLE — --
CANADA
FMRSMIKS
ALASKA
cvtf of Wuslu
KODIAK
ISLAND
IV .
k .
t( I 1'3EMEL
DIWNGHAM
BRISTOL MY
NORTH PACIFIC OCEAN
b
1
s KODIAK
a` ISLAND
Q BOROUGH
1
t
Certificate of
Achievement
1
for Excellence
In Financial
1 •
Reporting
Presented to
Kodiak Island Borough,
Alaska
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1993
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.
11
President
&-�
Executive Director
Kodiak Island Borough Organization Chart
I Electorate 1
Assembly
I�
Hospital Advisory
Board (Appointed
by Assembly)
_1
Service District
Advisory Boards
__Appointed
Citizens Advisory
Boards /Commission
(Appointed by
Woodland Acres
Assembly)
Hospital
Administrator
Street Lighting
Borough Attorney
* Personnel Board
* Architectural
* par and
Recreation
* Board of
Hospital Staff
Equalization
* Mental Health
B orou h Clerk
Center
* Economic
Development
* OCS Advisory
Council
* Building Code
Board of Appeals
* KITS Committee
Airport Advisory
Committee
Mayor
Service District
Advisory Boards
(Elected
* Monashka Bay
Road Service
District
* Women's Bay
Road Service/
Fire District
* Service District
No. I
* Road, Water,
Sewer, Fire
District No. I
* Bayview Road
Service District
* Service Area
No. 2
School Board
Superintendent of
Schools
I School Staffl
Planning & General Community Engineering
Zoning Administration Development /Facilities
Commission Department Department
ninted by
Finance Data Services Assessing Mental Health
enactment Department Department I Center
t
t
t
I
Q
a j a Q
o
o �
e
r
September 23, 1994
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, 1994, 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,
that it is presented in a manner designed to fairly set
forth the financial position and results of operations of
the Borough as measured by the financial activity of its
various funds, and that all disclosures necessary to
enable the reader to gain maximum understanding of
the Borough's financial affairs have been included.
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.
710 MILL BAY ROAD
KODIAK, ALASKA 99615 -6340
PHONE (907) 486 -5736
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
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 funds related to the Borough included in our
CAFR are considered to be within the oversight ,
responsibility of the Borough Assembly.
The criteria used in determining the reporting entity
are consistent with the 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.
X111
ECONOMIC CONDITION AND OUTLOOK
xiv
There were four major projects initiated in 1994.
Three of these projects ( Northstar 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. Northstar Elementary School is an
$8,500,000 project, Ouzinkie School remodel is a
$1,200,000 project, and the Kodiak Island Hospital
remodel is currently budgeted at $9,500,000. These
should be the total costs for Northstar 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 a $750,000 project funded by transfers
from other funds and other projects. Other capital
projects either started or expanded in fiscal year 1994
total $2,087,874.
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,
construction of fishing lodges and recreational
facilities has increased.
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 1993 was
$93,012,367, compared to $102,621,097 in 1992. In
recent years, salmon has accounted for approximately
one -third of the total value of the fisheries industry in
Kodiak. The 1994 salmon catch in Kodiak was down
from last year, with an ex- vessel value of
approximately $25.5 million. Last year's (1993) ex-
vessel value was $32.9 million.
The shellfish (crab) industry continues to decline with
a catch of $11.5 million in 1993 compared to $12.2
million in 1992, $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 $614,570,795 in 1994, an increase of 52 %.
The unemployment rate for 1994 was 9.4 %, compared
to 6.0% in 1993 and 5.1% in 1992. Hiring seasonal
cannery workers traditionally begins around July 5.
The local unemployment rate has fluctuated from 3 to
10% 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 1994 budget, the Kodiak
Island Borough identified several major projects to be
addressed in fiscal year 1994. All major projects are
listed in Exhibit D -3 of the annual report.
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 outside
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 1994, the Clerk's Office has been selected.
The Clerk's Office is the direct link between residents
and their local Borough Assembly. The Clerk's
position is one of the oldest in Alaskan municipal
government. The Clerk's responsibilities include safe-
keeping the corporate seal and all papers and records
of the Borough, attending Assembly meetings, and
keeping a record of the proceedings. The Clerk is the
historian of the Borough, with the entire recorded
history of the Borough in the Clerk's care. The Clerk
administers oaths -of -office to newly - elected officials,
follows up on actions taken at meetings, writes letters,
and drafts ordinances and resolutions. The Clerk
attests deeds and other documents such as ordinances,
u
f]
t
1
1
1
fl
I �
u
�l
If
resolutions, minutes, and contracts by signing and
affixing the municipal seal.
The Borough Clerk is appointed by the Assembly and,
according to ordinance, works directly for the
Assembly. The Deputy Clerk serves as a full -time
employee in the Clerk's Office performing functions
and duties relative to the legislative process. In the
Clerk's absence, the Deputy Clerk assumes the powers
and duties of the Clerk. The Records Coordinator
maintains an indexed file containing municipal
ordinances, resolutions, attorney's opinions, and
actions of the Assembly and maintains historical files
in the archives.
The Clerk conducts and supervises regular and special
elections for the Borough, including giving notice,
preparing ballots, ordering supplies, supervising
election boards, and preparing the results for
certification. The Clerk also prepares petitions and
verifies signatures for initiative, referendum, and recall
elections. Candidates for elective municipal office and
municipal officers file their Conflict of Interest
statements with the Clerk. The Clerk's Office
conducted the 1993 municipal elections. The Clerk's
Office typically conducts one to three elections per
year. This year, the Clerk's Office provided training on
election policies and procedures for the village clerks
and election board chairs.
The Clerk's Office prepares agendas and agenda
packets for meetings of the Assembly and gives notice
of the meetings to the public. The Clerk attends two
regularly scheduled Assembly meetings and two work
sessions each month, in addition to special meetings.
In fiscal year 1994, the Clerk achieved professional
competency in specific requirements in education,
experience, and participation and received the Certified
Municipal Clerk (CMC) designation. Also, during
fiscal year 1994, the Clerk attended the Advanced
Academy of Municipal Clerks and the Alaska
Municipal League Conference. In fiscal year 1994, the
International Institute of Municipal Clerks Conference
was held in Anchorage. The Clerk and Deputy Clerk
were very involved with hosting this conference.
Also, this last fiscal year, the Clerk's office initiated
annual meetings with service district boards and
advisory boards to educate them on parliamentary
procedures, minutes, and the relationship of the
various boards to the Borough Assembly.
This past year the Clerk's Office worked closely with
the Kodiak High School business occupation office
supervising high school students from the Educational
Opportunity Program (EOP) and the Co-op Work
Study Program. These are excellent programs
providing high school students the opportunity to work
in an office setting, familiarizing them with office
procedures. The students were an asset to the Clerk's
office and assisted in several projects.
The Borough Clerk has many daily contacts with the
general public and within our organization. They
serve the Assembly, the Mayor, and other
administrative departments. Their services and
accomplishments this past year help the Borough meet
our growing demands.
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.
Budgetary Controls
The Borough uses the modified accrual basis for
governmental funds and the accrual basis for enterprise
funds. Under the modified accrual basis of accounting,
revenues are recognized when measurable and
available and expenditures are recognized when
incurred.
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
t
reserved by the use of encumbrances so that
appropriations will not be overspent.
=1
increase in property tax revenue is due primarily to
increased property value in the Borough of
$23,134,322.
1
All new moneys are appropriated by a public hearing
and the adoption of an appropriation ordinance.
Appropriation transfers are made between funds and/or
departments only after the adoption of 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, 1994. This chart
includes General Fund Revenue only.
General Fund Revenue Sources
Severance
Licenses.
taxes
permits. fees
$769,629
and other
10.3%
$457,894
24,069
6%
Investments
Education 4%
and property
:,< :•` :'•;.
$291,047
Property
3.9%
taxes
6,232
$(219.993)
$3,921,089
Inter-
52%
governmental
sanitation
$2,063,218
27.5%
.vv ;h \ .. v
The following schedule summarizes changes from the
prior year for general fund revenues:
Increase
Revenue Sources (Decrease)
Over 1993
Property taxes
$143,381
Intergovernmental
71,488
Investments and property
1,477
Severance taxes
66,179
Licenses, permits, fees and other
24,069
Property tax is the largest source of revenue for the
General Fund of the Kodiak Island Borough. The
The increase in intergovernmental revenue is due to an
increase in Raw Fish Tax of $238,463. State - shared
revenue and municipal assistance declined $167,263
from last year.
Severance tax related to commercial fishing was down
$74,365 from last year, but severance tax on timber
increased $142,601.
The following chart illustrates general fund
expenditures for the year ended June 30, 1994 by
function:
General Fund Expenditures
Changes in levels of expenditures for major General
Fund functions of the Borough over the preceding year
are shown in the following tabulation:
Conservation
Culture and
and
Over 1993
recreation
development
Public safety
$133,000
$ 390,882
(5,601)
Education 4%
(47,322)
Education
$115,695
Culture and recreation
(65,586)
3.5%
6,232
$(219.993)
Health and
sanitation
$385,430
.vv ;h \ .. v
General
11.5%
¢overnment
Public works
$2,111,210
$115,043
63%
3.4% Public safety
$92,044
2.7%
Changes in levels of expenditures for major General
Fund functions of the Borough over the preceding year
are shown in the following tabulation:
fI
F1
F
u
r�
t
i]
Increase
(Decrease)
Expenditures
Over 1993
General government
$ (34,632)
Public safety
(14,058)
Public works
(5,601)
Health and sanitation
(47,322)
Education
(59,026)
Culture and recreation
(65,586)
Conservation and development
6,232
$(219.993)
fI
F1
F
u
r�
t
i]
1
1
1
1
It is the Kodiak Island Borough's goal to control any
increase in expenditures. For fiscal year 1994,
expenditures decreased 6%.
Another goal of the Kodiak Island Borough is to
maintain a fund balance in the General Fund of two
million dollars. To this end, the Kodiak Island
Borough added $340,332 to the fund balance of the
General Fund, resulting in a year end balance of
$2,375,653.
The following table reflects the fund balance of the
General Fund at the close of business for the past ten
fiscal years:
91,900,000
$1,000.000
i$500,000
1�
1�,
so
General Fund Balance
Last ten fiscal years
1993) the Hospital had an operating loss of $993,527
with non - operating gains of $227,106 that resulted in a
deduction from retained earnings of $766,421.
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.
operating profit
of $24,970. In
fiscal year 1994,
depreciation for
each water
account was
$10.00 and
$18.43 for each
sewer account.
Eventually, if the
Borough wants to
rebuild the water
and sewer lines
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.
I
The Hospital showed an operating loss in fiscal year
1994 of $138,189 but had non- operating gains of
$144,010. This means that the Hospital increased their
retained earnings by $5,821 by the end of the year.
Non-operating gains
are State Revenue
Sharing of
$129,416, interest
income of $10,889,
and donor - restricted
gifts of $3,705. Last
year (fiscal year
from a funded depreciation account, water and sewer
rates will have to be raised approximately $28.00 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 1994, 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.
$3,500,000
Operating Income
(Loss)
Water
sz5oo,o00
Sanitary Services
szaoo,000
91,900,000
$1,000.000
i$500,000
1�
1�,
so
General Fund Balance
Last ten fiscal years
1993) the Hospital had an operating loss of $993,527
with non - operating gains of $227,106 that resulted in a
deduction from retained earnings of $766,421.
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.
operating profit
of $24,970. In
fiscal year 1994,
depreciation for
each water
account was
$10.00 and
$18.43 for each
sewer account.
Eventually, if the
Borough wants to
rebuild the water
and sewer lines
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.
I
The Hospital showed an operating loss in fiscal year
1994 of $138,189 but had non- operating gains of
$144,010. This means that the Hospital increased their
retained earnings by $5,821 by the end of the year.
Non-operating gains
are State Revenue
Sharing of
$129,416, interest
income of $10,889,
and donor - restricted
gifts of $3,705. Last
year (fiscal year
from a funded depreciation account, water and sewer
rates will have to be raised approximately $28.00 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 1994, 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.
I xvii
1985 1 989 1987 1988 1 989 1990 1 991 1992 19e3 19e4
Operating Income
(Loss)
Water
Sewer
Sanitary Services
Total
1990
<$95,800>
<$158,587>
<$95,231>
<$349,618>
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>
I xvii
1985 1 989 1987 1988 1 989 1990 1 991 1992 19e3 19e4
1
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
DEBT ADMINISTRATION
Summary of debt principal outstanding at fiscal year
end was:
General Obligation, 1994
General Obligation, 1993
General obligation, school refunding, 1991
General obligation, school refunding, 1989
Environmental Protection Agency loan
$9,985,000
9,215,000
2,015,000
6,700,000
114.581
$28.029.580
contribution rates. Amounts
are budgeted, withheld, and remitted accordingly.
Also, periodically the actuarial assumptions are revised
by the 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, insurance, pension fund,
etc.) is accounted for and promptly
remitted to the agency involved.
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:
During fiscal year 1994, the Borough sold two bond
issues totaling $19,200,000. The first issue, 1993
Series A, was for $9,215,000 and was bank qualified.
[i
1
1
1]
xviii I
Moody's
Standard
Investors
and
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
During fiscal year 1994, the Borough sold two bond
issues totaling $19,200,000. The first issue, 1993
Series A, was for $9,215,000 and was bank qualified.
[i
1
1
1]
xviii I
1
II
u
The second issue, the 1994 Series A, was for
$9,985,000 and was not bank qualified. In 1970, the
State Legislature created the State Reimbursement
Program where the State reimburses municipalities for
part of the costs of debt service on bonds used for
school construction. Of these bonds, $9,700,000, were
issued for educational purposes (construction of
Northstar Elementary School and Ouzinkie School
remodel) and have been approved for reimbursement at
70 %.
Net per capita bonded debt is up to $1,560 because of
these two new bond issues. 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
$1,600
$1,400
$1,200
$1,000
$800
$600
z
1
$200
s_
vi %0 t- o0 a, 9 F N cn
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.
INVESTMENT POLICIES
The Borough Treasurer is the central treasurer for all
Borough funds. This includes the Borough, School
District, Hospital and Mental Health Center. We use 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."
We deposit all funds daily and all idle funds are
invested on the following day. We do recognize that
there is frequently some exposure to uninsur and un-
collateralized deposits. We have made great strides in
minimizing this exposure through increased collateral
and selection of banks and brokers with additional
insurance. We use a local servicing bank to sweep 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 verses
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
'j 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 $19 and $37
million. Interest rates for our fiscal year
started off at 3.0% to 5.7% in early July 1993.
At year -end, investments were earning from
3.4% to 6.1% for an average yield of 4.2 %. We closed
out the year with investment earnings for all funds in
the amount of $1,356,643.
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.
During fiscal year 1994, the Borough Finance
Department conducted a comprehensive review of our
xix
J
government's exposure in conjunction with the tri-
annual insurance request for proposal. The methods
used encompassed the following areas:
❖ Risk Identification: What the risks are.
❖ Risk Evaluation: How often a loss is likely to
occur and how severe it could be.
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 six consecutive years (fiscal
years ended 1988 - 1993). 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.
❖ Risk Financing: Paying for losses when they
do occur.
As a result of this analysis, we have focused on specific
risk areas, centralized the purchase of the various
required coverages, and more accurately allocated
insurance expenditures throughout the respective risk
areas.
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 ".
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, 1993. The Certificate of
Achievement is a prestigious national award
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
GOVERNMENT FINANCE OFFICERS
ASSOCIATION DISTINGUISHED BUDGET I
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 1994
budgets to the GFOA and received the Distinguished
Budget Presentation Award for all four 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
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,
�f� 'd. 4�
KARLETON G. SHORT
DIRECTOR OF FINANCE
J
r
t
FINANCIAL SECTION
� Deloitte &
buft u
1 O
Suite 1500 Telephone: (907) 272 -8462
550 West 7th 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, 1994 and for the year 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, 1994, 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.
Our audit was made 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 analysis 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.
September 23, 1994
oeWmera�c4e
ToYMau
1
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES, ACCOUNT GROUPS AND DISCRETELY
PRESENTED COMPONENT UNITS
> IT-4&-� JUNE 30, 1994 WITH COMPARATIVE TOTALS FO 1993
t — Proprietary
ASSETS
CURRENT ASSETS:
Equity in central treasury
Temporary investments
Other cash and cash equivalents
Receivables:
State of Alaska
Federal government
Property taxes, net of allowance of $15,828
Land sales contacts, due within one year
Other receivables, net
Due from other fiords
Inventories
Prepaid expenses
Assets whose use is limited:
Under malpractice funding arrangement -
held by trustee
By donor for specific purpose
Designated for deferred compensation
plan participants
Equity in central treasury
Temporary investments
Land sales contracts receivable, due after one year
Amount available to service long -term debt in
Debt Service fund
Amount to be provided to service long -tern debt
Fixed assets in service
Accumulated depreciation
Construction work -in- progress
TOTAL ASSETS
S 7,167,257 S 3,682,418 S 4,366,825 S 24,406,759 S 17,111,280 S 572,324
The accompanying notes are an integral part of these combined financial statements.
boo? k n
t
2
Governmental Fund Types
Fund Type
Special
Debt
Capital
Internal
General
Revenue
Service
Projects
Enterprise
Service
S 25,471
S 687,416
S 257,069
S 992,237
S 282,612 S
7,786
6,798,485
1,058,155
3,676,440
21,961,894
-
-
38,623
122,433
56,283
-
-
-
-
815,472
-
161,143
-
-
-
289,000
-
-
-
143,535
404,372
32,991
190,873
311,341
-
308,500
400,325
390,000
240,000
-
241
-
-
-
126,828
-
-
500,000
-
812,301
-
-
-
-
-
-
18,932,942
699,245
-
-
(3,282,443)
(134,707)
S 7,167,257 S 3,682,418 S 4,366,825 S 24,406,759 S 17,111,280 S 572,324
The accompanying notes are an integral part of these combined financial statements.
boo? k n
t
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 1994 1993
S S S - S 2,252,591
S -
S 724,126
S 2,976,717
S 1,642,787
- - 33,494,974
-
-
33,494,974
17,759,717
- -
190,946
3,578
194,524
155,184
- 217,339
1,059,571
-
1,276,910
818,715
- - 815,472
24,442
-
839,914
231,145
- - - 161,143
-
-
161,143
140,963
289,000
-
-
289,000
208,341
- - 1,083,112
6,629
2,130,361
3,220,102
3,237,441
- - - 1,338,825
4,952,642
-
6,291,467
5,676,303
- - - -
179,819
218,818
398,637
379,220
- 241
-
122,813
123,054
212,496
_ _
-
173,786
173,786
440,812
- -
-
1,109
1,109
17,182
995,306 - 995,306
-
123,581
1,118,887
1,027,314
- 126,828
-
-
126,828
256
- 500,000
-
-
500,000
1,008,812
812,301
-
-
812,301
1,180,598
4,366,825 4,366,825
-
-
4,366,825
6,072,461
- 24,000,189 24,000,189
-
-
24,000,189
4,862,412
78,146,673 - 97,778,860
2,990,793
7,217,471
107,987,124
106,454,573
- - (3,417,150)
-
(4,167,570)
(7,584,720)
(6,637,918)
6,348,878 - 6,348,878
-
-
6,348,878
1,831,321
S 995,306 S 84,495,551 S 28,367,014 $ 171,164,734 S 9,404,842 $ 6,548,073 S 187,117,649 $ 146,720,135
continued
3
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES, ACCOUNT GROUPS AND DISCRETELY
PRESENTED COMPONENT UNITS
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
Proprietary
Governmental Fund Types
Fund Type
Special
Debt
Capital
Internal
General
Revenue
Service
Projects
Enterprise
Service
LIABILITIES. FUND EOUIIIES AND
OTHER CREDITS
LIABILITIES:
Accounts payable S 48,715 S
241,394
S -
S 672,897
S 249,750 S
29,580
Retainages payable -
-
210,427
-
-
Accrued compensation -
-
-
15,353
-
Payroll taxes and employee benefits 22,842
20,300
-
-
-
Other accrued liabilities 3,685
-
-
-
-
Current portion of capital lease obligation -
-
_
_
_
Customer deposits -
6,644
-
-
18,900
Deferred and unrealized revenues -
1,101,302
-
92,958
-
-
Deferred compensation -
-
-
-
_
_
�( Due to other funds 4,716,362
293,500
-
390,000
240,000
-
Due to City of Kodiak -
-
-
-
10,010
Due to student organizations -
-
-
_
Accrued landfill closure and postclosure costs -
-
-
281,449
-
Capital lease obligation -
-
-
-
_
_
Accrued annual leave -
-
General obligation bonds payable -
-
Environmental Protection Agency loan -
-
-
_
_
Total liabilities 4,791,604
1,663,140
1,366,282
815,462
29,580
FUND EQUITIES AND OTHER CREDITS:
Contributions in aid of construction -
-
-
-
15,310,877
617,382
Investment in general fixed assets -
-
_
_
_
Retained earnings:
T{ Ci Ord (LVUL' -
-
-
-
Unreserved -
-
-
-
_
Fuel balance:
Reserved:
Encumbrances -
-
-
3,479,129
Fuel inventory -
-
-
-
_
PL-874 -
-
_
Prepaid expenses -
Unreserved:
-
_
-
_
Designated for subsequent years expenditures -
-
4,366,825
19,561,348
-
Undesignated 2,375,653
2,019,278
-
-
984,941
(74,638)
Total fund equities and other credits 2,375,653
2,019,278
4,366,825
23,040,477
16,295,818
542,744
,
TOTAL LIABILITIES, FUND EQUITIES AND
OTHER CREDITS S 7,167,257 S
3,682,418
$ 4,366,825
S 24,406,759
$ 17,111,280 S
572,324
The accompanying notes are an integral part of these combined financial statements.
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 1994 1993
$ - $ S -
S 1,242,336
S 122,306
S 183,907
$ 1,548,549
$ 1,432,983
- -
210,427
-
-
210,427
44,154
- -
15,353
927,660
440,514
1,383,527
1,314,009
- -
43,142
1,103,782
-
1,146,924
1,128,718
_ _
3,685
-
242,353
246,038
405,001
-
-
133,999
133,999
101,406
-
25,544
-
-
25,544
31,612
- -
1,194,260
4,666
-
1,198,926
1,634,110
995,306 -
995,306
-
123,581
1,118,887
73,616
- -
5,639,862
651,605
-
6,291,467
6,630,001
- -
10,010
-
10,010
40,300
- -
-
136,007
136,007
140,104
- -
281,449
-
-
281,449
-
_ _ _
_
-
135,510
135,510
277,395
- - 233,266
233,266
-
-
233,266
225,292
- - 27,915,000
27,915,000
-
27,915,000
10,470,000
- - 218,748
218,748
-
-
218,748
239,581
995,306 - 28,367,014
38,028,388
2,946,026
1,259,864
42,234,278
24,188,282
- - -
15,928,259
-
3,688,648
19,616,907
19,351,346
- 84,495,551
84,495,551
2,990,793
-
87,486,344
82,463,091
_ _
_
-
1,109
1,109
17,182
- -
-
-
1,598,452
1,598,452
2,771,093
- -
3,479,129
137,897
-
3,617,026
1,894,346
- -
-
155,544
-
155,544
157,564
-
-
1,232,041
-
1,232,041
1,507,336
-
-
-
-
37,897
-
23,928,173
1,187,381
-
25,115,554
9,961,696
-
5,305,234
755,160
-
6,060,394
4,370,302
- 84,495,551
133,136,346
6,458,816
5,288,209
144,883,371
122,531,853
S 995,306 S 84,495,551 S 28,367,014
S 171,164,734
S 9,404,842
$ 6,548,073
$ 187,117,649
$ 146,720,135
5
The accompanying notes are an integral part of these combined financial statements.
Cad J �I
i
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, 1994 WITH COMPARATIVE TOTALS FOR 1993
Special
Debt
General
Revenue
Service
Revenues:
i
€
Property taxes
S 3,921,089
$ 516,124
S -
�
Intergovernmental:
State sources
2,054,805
997,572
Federal sources
8,413
5,534
Land sale proceeds
-
506,938
-
Severance taxes
769,629
-
Licenses, permits, fees and other local revenues
457,894
697,533
Investments and property
291,047
349,663
182,078
r
In -kind services
-
-
_
Total revenues
7,502,877
3,073,364
182,078
Expenditures
Current:
Borough assembly
147,423
-
-
`
Mayor's department
185,593
-
-
Clerk's department
239,279
-
-
Legal services
220,847
-
-
Finance department
607,632
-
-
Data services
Assessment department
287,405
-
-
Engineering facilities department
115,043
-
-
Community development department
390,882
57,150
Building inspector
82,138
-
-
x'
Economic development
60,914
-
-
General administration
362,117
868,497
-
Emergency preparedness
9,906
-
Educational support
115,695
-
-
Health and sanitation
385,430
1,888,559
-
Culture and recreation
133,000
-
-
Oil spill cleanup
-
34,637
Capital outlay:
Schools
_
_
Service district maintenance
133,554
-
General
-
12,030
-
Debt service:
Principal
-
1,775,833
Interest
-
633,301
Fiscal agent fees
-
2,373
Other
-
54,496
Total expenditures
3,343,304
2,994,427
2,466,003
€
Excess (deficiency) of revenue over (under) expenditures
4,159,573
78,937
(2,283,925)
f
i
Other financing sources (uses):
Transfer from component unit
-
-
2,075,565
4r Operating transfers in
4,759
296,030
13,765
Bond proceeds
-
-
169,748
Transfer to component unit
(3,200,000)
,�- Operating transfers out
(624,000)
(309,635)
(1,680,789)
Net other financing sources (uses)
(3,819,241)
(13,605)
578,289
°
Excess (deficiency) of revenues and other financing
s
sources over expenditures and other financing uses
340,332
65,332
(1,705,636)
Fund balance at beginning of year
2,035,321
1,953,946
6,072,461
Adjustments to reserve for fuel inventory
-
-
Fund balances at end of year
S 2,375,653
S 2,019,278
S 4,366,825
The accompanying notes are an integral part of these combined financial statements.
Cad J �I
i
J
1
t
EXHIBIT 2
1
Totals
Component
- -
147,423
152,022
Primary
Unit
Totals - Reporting Entity
Capital
Government
School
(Memorandum Only)
Projects
( Memorandum Only
District
1994
1993
S -
S 4,437,213
S -
S 4,437,213
S 4,227,151
525,753
3,578,130
15,452,184
19,030,314
19,811,221
2,448,030
2,461,977
3,832,397
6,294,374
4,996,506
-
506,938
-
506,938
423,911
-
769,629
287,405
769,629
703,450
106,060
1,261,487
-
1,261,487
1,414,846
493,208
1,315,996
298,804
1,614,800
1,111,593
428,849
-
539,311
539,311
685,610
3,573,051
14,331,370
20,122,696
34,454,066
33,374,288
1
147,423
-
147,423
152,022
185,593
185,593
168,417
239,279
239,279
216,059
-
220,847
-
220,847
271,495
-
607,632
-
607,632
386,552
-
278,662
287,405
287,405
248,819
115,043
115,043
120,645
448,032
448,032
428,849
82,138
82,138
72,550
60,914
60,914
38,896
1,230,614
1,230,614
1,487,532
-
9,906
-
9,906
33,552
115,695
20,877,670
20,993,365
19,842,853
2,273,989
2,273,989
2,108,457
133,000
133,000
198,586
-
34,637
34,637
109,158
5,147,579
5,147,579
5,147,579
1,963,049
133,554
133,554
202,856
958,335
970,365
970,365
1,386,605
-
1,775,833
-
1,775,833
1,745,833
633,301
633,301
734,515
2,373
2,373
1,842
54,496
-
54,496
6,105,914
(2,532,863)
14,909,648
20,877,670
35,787,318
32,197,804
(754,974)
(1,333,252)
1,176,484
(578,278)
2,161,870
2,075,565
2,476,424
-
3,200,000
2,075,565
5,676,424
2,473,713
6,779,538
18,767,629
18,937,377
18,937,377
-
(3,200,000)
-
(3,200,000)
(3,220,460)
(112,000)
(2,726,424)
(2,075,565)
(4,801,989)
(6,053,251)
20,817,499
17,562,942
1,124,435
18,687,377
(20,460)
18,284,636
16,984,664
369,461
17,354,125
1,156,024
4,755,841
14,817,569
3,111,571
17,929,140
16,765,808
-
-
(13,009)
(13,009)
7,308
S 23,040,477
S 31,802,233
S 3,468,023
S 35,270,256
S 17,929,140
1
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, 1994
General Fund
Variance-
Favorable
Budget Actual (Unfavorable)
Revenues:
Property taxes $ 3,995,310 $ 3,921,089 $ (74,221)
Intergovernmental:
147,423
State sources
2,071,700
Federal sources
6,300
Land sale proceeds
-
Severance taxes
814,700
Licenses, permits, fees and other local revenues
146,700
Investments and property
250,000
Total revenues
Expenditures
Current:
Borough assembly
Mayor's department
Clerk's department
Legal services
Finance department
Assessment department
Engineering facilities department
Community development department
Building inspector
Economic development
General administration
Emergency preparedness
Educational support
Health and sanitation
Culture and recreation
Capital outlay:
Service district maintenance
General
Debt service:
Principal
Interest
Fiscal agent fees
Other
Total expenditures
Excess (deficiency) of revenue over (under) expenditures
Other financing sources (uses):
Transfers from component unit
Operating transfers in
Bond proceeds
Transfers to component unit
Operating transfers out
Net other financing sources (uses)
Excess (deficiency) 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
7,284,710
2,054,805
8,413
769,629
457,894
291,047
7,502,877
147,734
147,423
311
185,720
185,593
127
244,542
239,279
5,263
223,278
220,847
2,431
633,410
607,632
25,778
317,060
287,405
29,655
160,176
115,043
45,133
404,700
390,882
13,818
81,850
82,138
(288)
72,000
60,914
11,086
369,850
362,117
7,733
18,200
9,906
8,294
126,000
115,695
10,305
442,450
385,430
57,020
133,000
133,000
-
3,559,970
3,724,740
3,343,304
(16,895)
2,113
(45,071)
311,194
41,047
218,167
f!
1
1
1
216,666
4,159,573 434,833
t
4,759 4,759
(3,200,000) (3,200,000) -
(624,000) (624,000) -
(3,824,000) (3,819,241) 4,759
$ (99,260)
The accompanying notes are an integral part of these combined financial statements.
8
340,332
2,035,321
$ 2,375,653
$ 439,592 1
1
n
EXHIBIT 3
Special Revenue Funds
Debt Service Funds
az ce_
Favorable
57,950
ar ce-
Favorable
Budget
Actual
(Unfavorable) Budget
Actual
(Unfavorable)
$ 476,850
$ 514,856
$ 38,006 $ -
$ -
$ -
1,009,222
997,572
(11,650) -
-
-
5,500
5,534
34 -
-
-
423,800
506,938
83,138 -
-
-
786,500
697,533
(88,967)
158,066
368,640
349,663
(18,977) 160,000
182,078
22,078
3,070,512
3,072,096
1,584 160,000
182,078
22,078
57,950
57,150
800
1,326,702
868,497
458,205
-
-
-
2
1,888,559
192,501
-
-
-
291,620
133,554
158,066
27,330
12,030
15,300
-
-
-
1,775,840
1,775,833
7
640,000
633,301
6,699
5,000
2,373
2,627
-
-
-
296,700
54,496
242,204
3,784,662
2,959,790
824,872
2,717,540
2,466,003
251,537
(714,150)
112,306
826,456
(2,557,540)
(2,283,925)
273,615
-
-
-
2,070,000
2,075,565
5,565
295,000
296,030
1,030
9,000
13,765
4,765
-
-
-
-
169,748
169,748
(304,870)
(309,635)
(4,765)
(1,675,000)
(1,680,789)
(5
(9,870)
(13,605)
(3,735)
404,000
578,289
174,289
$
(724,020)
98,701 $
822,721 $
(2,153,540)
(1,705,636) $
447,904
1,924,649
6,072,461
$
2,023,350
$
4,366,825
continued
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, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT 3- continued I
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:
Mayor's department:
Clerk's department:
Legal services:
Finance department:
Assessment department:
Engineering facilities department:
Community development department:
Building inspector:
Economic development:
General administration:
Emergency preparedness:
Educational support:
Health and sanitation:
Culture and recreation:
Capital outlay:
Service district maintenance
General
Debt service:
Principal
Interest
Fiscal agent fees
Other
Total expenditures
Excess (deficiency) of revenue over (under) expenditures
Other financing sources (uses):
Transfer from component unit
Operating transfers in
Bond proceeds
Transfers to component unit
Operating transfers out
Net other financing sources (uses)
Excess (deficiency) 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
Totals (Memorandum Only)
variance-
Favorable
Budget Actual (Unfavorable)
4,472,160
4,435,945
(36,215)
3,080,922
11,800
423,800
814,700
933,200
778,640
3,052,377
13,947
506,938
769,629
1,155,427
822,788
10,515,222 10,757,051
(28,545)
2,147
83,138
(45,071)
222,227
44,148
241,829
147,734
147,423
311
185,720
185,593
127
244,542
239,279
5,263
223,278
220,847
2,431
633,410
607,632
25,778
317,060
287,405
29,655
160,176
115,043
45,133
462,650
448,032
14,618
81,850
82,138
(288)
72,000
60,914
11,086
1,696,552
1,230,614
465,938
18,200
9,906
8,294
126,000
115,695
10,305
2,523,510
2,273,989
249,521
133,000
133,000
-
291,620
133,554
158,066
27,330
12,030
15,300
t
t
1
1
1
1
1
t
1,775,840
640,000
1,775,833
633,301
7
6,699
5,000
2,373
2,627
296,700
54,496
242,204
10,062,172 8,769,097 1,293,075
453,050 1,987,954 1,534,904
2,070,000
304,000
(3,200,000)
(2,603,870)
(3,429,870)
$ (2,976,820)
The accompanying notes are an integral part of these combined financial statements.
10
2,075,565
314,554
169,748
(3,200,000)
(2,614,424)
(3,254,557)
(1,266,603)
10,032,431
$ 8,765,828
5,565
10,554
169,748
(10,554)
175,313
1,710,217
1
1
1
DRAFT 12
X04 94.XL811
FOR WSCUSS/ON PURPOSES ONLY/
KODIAK ISLAND BOROUGH
EXH BIT 4
COMBINED STATEMENT OF REVENUES, EXPENSES, TRANSFERS
AND CHANGES IN RETAINED EARNINGS
PROPRIETARY FUND TYPES AND DISCRETELY PRESENTED COMPONENT UNIT
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE
TOTALS FOR 19_93_
Totals
Totals
Reporting Entity
Primary
Component
(Memmandnm only)
Internal
Government
Unit
Enterprise
Service
(Memmandam only)
Hospital
1994
1993
Operating revenues:
Water des
$ 424,457 $
$ 424,457
$ $
424,457 $
386,666
Sewer service charges
525,345
525,345
525,345
429,760
Refire collection
1,193,712
1,193,712
1,193,712
1,269,525
Sanitary services fees
434,098
434,098
434,098
380,195
Patient and resident revenues
-
-
8,709,759
8,709,759
7,838,777
Installation charges
852
852
-
852
2,154
Charge for services
-
244,755
244,755
-
244,755
-
Other
27,222
30,088
57,310
309,895
367,205
438,523
2,605,686
274,843
2,880,529
9,019,654
11,900,183
10,745,600
Operating expenses:
Personnel services
337,031
372,898
709,929
5,342,975
6,052,904
5,562,607
Waste collection
1,050,821
-
1,050,821
-
1,050,821
1,062,774
Purchased water and sewer treatment
721 ,741
-
721,741
-
721,741
589,513
Contracted services
48,542
27,773
76,315
732,972
809,287
994,065
Repairs and maintenance
91,602
134,707
226,309
271,951
498,260
373,086
Landfill closure and postclosure costs
28,454
-
28,454
-
28,454
-
Depreciation ,
387,973
� . J 1,761
399 734
i 440,904
840,638
814,029
Professional fees L -% l (� k._! =-^
_
- - --
296,313
296,313
264,183
Bad debt v c.
370,789
370,789
397,636
Supplies c;
^a! 1,440
1,440
890,562
892,002
816,286
Interest 1
52,342
52,342
31,384
83,726
39,218
General administrative
153,104
-
153,104
153,104
93,826
Other
159,399
159,399
779,993
939,392
915,759
Allocated to projects
(11,418)
(11,418)
-
(11,418)
-
2,968,689
599,481
3,568,170
9,157,843
12,726,013
11,922,982
Operating loss
(363,003)
(324,638)
(687,641)
(138,189)
(825,830)
(1,177,382)
Other income:
Interest income
23,364
23,364
10,889
34,253
79,515
State revenue sharing
-
-
129,416
129,416
113,866
Donor restricted gifts
-
3,705
3,705
29,992
23,364
23,364
144,010
167,374
223,373
Loss before transfers and cumulative
effect of adoption of GASB 18
(339,639)
(324,638)
(664,277)
5,821
(658,456)
(954,009)
Operating transfers in
250,000
250,000
-
250,000
20,460
Loss before cumulative
effect ofadoption of GASB 18
(339,639)
(74,638)
(414,277)
5,821
(408,456)
(933,549)
Cumulative effect of adoption of GASB 18
(252,995)
(252,995)
-
(252,995)
Net loss
(591634)
(74,638)
(667,272)
5,821
(661,451)
(933,549)
Amortization of contributions in aid of construction
383,040
383,040
-
383,040
359,101
Increase (decrease) in retained earnings
(209,594)
(74,638)
(284,232)
5,821
(278,411)
(574,448)
Retained earnings at begm=g ofyear
1,194,535
1,194,535
1,593,740
2,788,275
3,362,723
Retained earnings at end ofyear
$ 984,941 $
(74,638)
$ 910,303
$ 1,599,561 $
2,509,864 $
2,788,275
The accompanying notes are an integral part of these combined financial statements
M
a
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF CASH FLOWS
PROPRIETARY FUND TYPES AND DISCRETELY PRESENTED COMPONENT UNIT
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT 5
Totals
Totals
Reporting
Primary
Component
Entity
Internal
Government
Unit
(Memorandum
Only)
Enterprise
Service
( Memorandum Only Hospital
1994
1993
Operating income (loss)
S (363,003) S
(324,638)
S (687,641)
S (138,189)
S (825,830) S
(1,177,382)
Adjustments to reconcile operating loss to net cash
provided by operating activities:
Depreciation
387,9-74_._.
134,707
522,681
440,904
_ ` , 963,585
814,029
Provision for uncollectible accounts
Provision for landfill closure and postclosure costs
-
28 ,454
28,454
- - 370,789
-
370,789
28,454
397,636
-
(Gain) loss on sale of assets
2,690
2,690
2,690
(2,686)
Changes in assets and liabilities:
Accounts receivable:
Customers and patients
(71,594)
-
(71,594)
(197,318)
(268,912)
(493,776)
Other
-
-
-
(75,992)
(75,992)
(144,112)
Prepaid expenses
51,786
51,786
(32,135)
Inventories, at cost
-
-
-
(14,001)
(14,001)
5,061
Due tolfrom other funds
(9,000)
-
(9,000)
-
(9,000)
74,000
Other assets
-
(69,263)
Accounts payable
91,552
29,580
121,132
(117,454)
3,678
84,297
Customer deposits
(9,265)
-
(9,265)
(9,265)
4,216
Accrued expenses
33,900
33,900
16,934
Due to the City of Kodiak
(30,290)
(30,290)
-
(30,290)
15,820
Due to deferred compensation plan participants
49,965
49,965
73.616
Deferred revenue
(121,290)
(121,290)
-
(121,290)
121,290
Other accrued liabilities
(14,326)
-
(14,326)
20,000
5,674
183,799
Total adjustments
254,905
164,287
419,192
562,579
981,771
1,048,726
Net cash used for operating activities
(108,098)
(160,351)
(268,449)
424,390
155,941
(128,656)
Cash flows from noncapital financing activities:
State of Alaska, Revenue Sharing payments received
Operating transfer in
-
-
-
250,000
-
250,000
129,416
-
129,416
250,000
134,326
-
Net cash provided by noncapital financing activities
250,000
250,000
250,000
134,326
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
(60,899)
(81,863)
(142,762)
(272,157)
(414,919)
(680,541)
Proceeds from sale of equipment
7,972
7,972
7,972
12,625
Principal payments made on capital lease
-
-
(131,292)
(131,292)
(113,561)
Receipt of gifts restricted by donor for capital purchases
31,220
31,220
3,705
34,925
631,146
Net cash used for capital and related financing activities
(21,707)
(81,863)
(103,570)
(399,744)
(503,314)
(150,331)
Cash flows from investing activities:
Change in assets whose use is limited:
Under malpractice funding arrangement
267,026
267,026
184,087
By donor for specific purpose
-
-
-
16,073
16,073
(7,131)
Designated for deferred compensation plan benefits
-
-
-
(49,965)
(49,965)
(73,616)
Interest and dividends on investments
23,364
23,364
10,889
34,253
81,146
Net cash provided by (used for) investing activities
23,364
23,364
244,023
267,387
184,486
Net change in cash and cash equivalents
(106,441)
-
(106,441)
398,085
291,644
39,825
Cash and cash equivalents at beginning ofyear
Cash and cash equivalents at end of
1,015,881
S 909,440 S
7,786
7,786
1,023,667
S 917,226
329,619
727,704
1,353,286
1,305,675
year
$
S 1,644,930 S
1,345,500
Cash and cash equivalents consist of equity ity in central treasury and temporary investments including those under the caption, "Assets whose use is limited," on the balance sheet
The integral
accompanying notes are an part of these combined financial statements.
12 1
I
1�
F_
I
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1994
NOTE 1: SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES
A. Reporting 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 1993 balances (memorandum only) 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.
1 13
1
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, 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
requirement shave 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.
[--,
1
1
1
F1
F
J
r
1
1
1
a
1
1
r
1
1
fl
1
1
1
t
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 I.
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.
When copies of these actions are filed with the courts,
delinquent properties have been effectively liened
upon.
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 the return is filed and payment is
received.
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
miningilogging 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 their balance sheets, in spite of
their spending measurement focus. Special reporting
treatments are used to indicate, however, that they
should not be considered available spendable resources
since they do not represent net current assets.
Recognition of Governmental Fund Type revenues
represented by noncurrent receivables is deferred until
they are paid.
Other local revenues are recorded on a basis consistent
with their nature in relation to measurement and
availability standards.
Implementation of GASB 18, Accounting for
Municipal Solid Waste Landfill Closure and
Postclosure Care Costs.
During the year ended June 30, 1994, the Borough
implemented GASB 18. GASB 18 is based on the
October 9, 1991, U.S. Environmental Protection
Agency (EPA) rule, Solid Waste Disposal Facility
Criteria, which establishes closure requirements for all
municipal solid waste landfills (MSWLFs) that receive
solid waste after October 9, 1991. The effect on the
financial statements of the Borough is that a portion of
the estimated closure and postclosure care costs of the
MSWLF is recognized as an expense and as a liability
in each period that the MSWLF accepts solid waste.
See the current year financial impact in Note 14.
C. Budgets and Budgetary Accounting
Borou
The Borough follows these procedures in establishing
the budgetary data reflected in the combined financial
statements:
Capital Project Funds and the Oil Spill Clean Up
Fund generally encompass the period from start up
to project completion, which is generally greater
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
$1,268 and $34,637, respectively, in 1994.
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.
6. 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
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, 1994, there were
eleven 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
L�
1
1
1
1
n
1
expenses of the reimbursing fund and a reduction of
the expenditures or expenses of the reimbursed fund.
Transfers from funds receiving revenues to funds
through which the resources are to be expended, and
operating loss subsidies are classified as operating
transfers. Nonrecurring or nonroutine transfers of
equity between funds are recorded as equity transfers.
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.
Inventories
Borough. Expendable operating supplies of the
Borough are accounted for using the purchase method
and, at June 30, 1994, 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 the
ower of average cost or market and available fund
I alance was reserved for all inventories. Fuel
inventory is accounted for by the purchase method and
I alued 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.
I Annual Leave
The Borough (excluding the School District) records
its liability for accrued annual leave in the
17
Governmental Fund Types for the amounts estimated
to be liquidated with current available resources.
The commitment for accrued annual leave not included
in the Governmental Fund Types is recorded in the
General Long -Term Debt Account Group. Cash
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 "assets whose use is
limited."
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 cost.
Deposits At June 30, 1994, the carrying amount of the
Borough's deposits was $2,672,966 and the bank
balance was $3,263,681. 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
uninsur 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 uninsur 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, 1994, the Borough's investment
balances were categorized as follows:
Category
1
Repurchase agreements $ 1,000,000 $ -
U.S. Government Securities 29,130,484 -
Carrying Market
Amount Value
$ 1,000,000 $ 1,000,000
29,130,484 28,399,748
$ 30,130,484 $ - $ - 30,130,484 29,399,748
Deferred Compensation Plans 1,118,887 1,118,887
Money Market Account 3,433 3,283
Municipal League Investment Pool 4,661,056 4,661,056
Total Investments
The above deposits of $2,672,966 and investments of
$35,913,860 totaling $38,586,826, are reported under
the following captions in the combined financial
statements:
Equity in central treasury $
2,976,717
Temporary investments
33,494,974
Other cash and cash equivalents
194,525
Assets whose use is limited:
Under malpractice funding arrangement
held by trustee
173,786
By donor for specific purpose
1,109
Investment in deferred compensation plan
1,118,887
Equity in central treasury
126,828
Temporary investments
500.000
Total deposits and investments $ 38.586.826
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 and the annual
independent audit. This is reflected as in -kind services
in the financial statement of the School District.
$ 35,913,860 $ 35,182,974
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 share revenue from the State of
Alaska in the amount of $129,416, required to be
passed through to the Hospital. This amount was
recorded as revenue by the Hospital.
NOTE 5: RETIREMENT COI UMTI7MENTS
As of June 30, 1994, 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
C�
t
1
L]
1
1
t
t
`J
1
18 1
I'
u
1
1
1
J
1
w
i
1
k
Plan Descriptions and Provisions
Public Emplovees' 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 $25 per month
for each year of credited service. In addition, major
medical benefits are provided. TRS also provides
death and disability benefits.
Under State law, covered employees are required to
contribute 8.65% of their base salary. The School
District is required to contribute the amount actuarially
needed in addition to member contributions to finance
the benefits of the System.
Funding Status and Progress
The pension benefit obligation is a standardized
disclosure measure of the present value of pension
benefits, adjusted for the effects of projected salary
increases and step -rate benefits, estimated to be
payable in the future as a result of employee service to
date. The measure is intended to help users assess the
funding status of the System on a going - concem basis,
assess progress made in accumulating sufficient assets
to pay benefits when due, and make comparisons
among employers. The measure is the actuarial
present value of credited projected benefits and is
independent of the funding method used to determine
contributions to the System.
The pension benefit obligation was computed as part of
an actuarial valuation as of June 30, 1993 (latest
available). Significant actuarial assumptions used in
the valuation include (a) a rate of return on the
investment of present and future assets of 8.75 percent
per year compounded annually for PERS and TRS,
respectively, (b) projected salary increases of 6.5
percent a year for the first five years of employment
and 5.5 percent per year thereafter and (c) health cost
inflation of 12.5 percent per year, adjusted downward
by 1% each year through 1997.
The pension benefit obligation of PERS and TRS as
calculated in the most recent actuarial valuation is as
follows on the next page ($ in thousands):
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
UNFUNDED PENSION
PERS
TRS (1)
S choo l
fir
�{IT"
Borough
District
PERS
Employers
$ 2,862 $
4,847
$ 7,709
$ 1,223,220
908
1,240
2,148
370,667
2,088
3,832
5,920
746,208
462
724
1,186
89,361
6,320
10,643
16,963
2,429,456
6,240 10,613 16,853 2,261,082
BENEFIT OBLIGATION $ (80) $ (30) $ (110) $ (168,374)
(1) The TRS system does not make separate measurements of assets and pension benefit obligation for individual employers.
Amounts for TRS 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 1994 were made in
accordance with actuarially determined requirements
computed through an actuarial valuation performed as
of June 30, 1993. The contributions ($ in thousands)
consisted of the following on the next page:
1
t
1
t
1
w
1
1
1
[7
20
r
Total current year payroll was $16,194,654.
Valuation of Medical Benefits
Historical Trend Information
Medical benefits for retirees are provided by the
payment of Medicare premiums from PERS and TRS.
In fiscal 1994 the pre-65 monthly cost of $347 and
post -65 cost of $121 (due to Medicare) were assumed
such that the total blended rate for all retirees of $253
equals the present monthly premium rate. These
medical premiums are then increased with the health
inflation assumption. The actuarial cost method used
for funding retirement benefits is also used to fund
health benefits.
Trend information gives an indication of the progress
made in accumulating sufficient assets to pay benefits
when due. The pension benefit obligation has not been
determined by the actuary for years prior to June 30,
1987. As a result, only information at June 30, 1994,
1993, 1992, 1991, 1990, 1989, 1988, and 1987 is
available regarding the trend indicators, on the
following page ($ in thousands).
21
PERS
PERS
Borough
School District
TRS
Percent of
Percent of
Percent of
Covered
Covered
Covered
Amount
Payroll
Amount
Payroll
Amount
Payroll
Covered payroll
$
2,577
100%
$
2,987
100%
$
9,899
100%
Contributions -
Normal cost -
Total contributions paid
$
489
18.98%
$
506
16.94%
$
1,397
14.11%
Amortization of funding surplus
(unfunded liability)
(44)
(1.71)
(58)
(1.94)
647
6.54
TOTAL
$
445
17.27%
$
448
15.00%
$
2,044
20.65%
Required contributions -
Employer
$
271
10.52%
$
246
8.25%
$
1,188
12.00%
Employee
174
6.75
202
6.75
856
8.65
TOTAL
$
445
17.27%
$
448
15.00%
$
2,044
20.65%
Total current year payroll was $16,194,654.
Valuation of Medical Benefits
Historical Trend Information
Medical benefits for retirees are provided by the
payment of Medicare premiums from PERS and TRS.
In fiscal 1994 the pre-65 monthly cost of $347 and
post -65 cost of $121 (due to Medicare) were assumed
such that the total blended rate for all retirees of $253
equals the present monthly premium rate. These
medical premiums are then increased with the health
inflation assumption. The actuarial cost method used
for funding retirement benefits is also used to fund
health benefits.
Trend information gives an indication of the progress
made in accumulating sufficient assets to pay benefits
when due. The pension benefit obligation has not been
determined by the actuary for years prior to June 30,
1987. As a result, only information at June 30, 1994,
1993, 1992, 1991, 1990, 1989, 1988, and 1987 is
available regarding the trend indicators, on the
following page ($ in thousands).
21
PERS
j
School
Borou
District
Net asset available for benefits:
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
Pension benefit obligation (PBO):
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
i
c
Net assets available for benefits as a percentage of PBO:
1987
115.19%
111.80%
1988
108.06%
109.79%
1989
1990
104.21%
109.72%
106.32%
117.20%
1991
98.45%
93.35%
1992
98.53%
95.87%
1993
98.73%
99.72%
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)
t
1993
(80)
(30)
Annual covered payroll:
1987
$ 1,701
$ 2,431
1988
1,830
2,473
1989
2,131
2,526
1990
2,373
2,562
1991
2,418
2,615
l;
1992
2,429
2,648
1993
2,845
2,863
i
1994
2,577
2,987
Assets in excess (deficiency of PBO expressed as
a percentage of annual covered payroll)
1987
17.28%
24.68%
1988
11.80%
25.64%
t
1989
1990
6.57%
14.29%
18.33%
50.12%
1991
(2.98)%
(22.52)
1992
(3.25)
(15.33)%
1993
(2.81)%
(1.05)
Contribution rates:
Employee
1987
6.75%
6.75%
1988
6.75%
6.75%
1989
6.75%
6.75%
1990
6.75%
6.75%
1991
6.75%
6.75%
1992
6.75%
6.75%
1993
6.75%
6.75%
l
1994
6.75%
6.75%
j
Employer
1987
4.27%
7.29%
j
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%
}
NOTE 6: FIXED ASSETS
$ 40,275
Building and improvements
Internal
Equipment
A summary of changes in the General Fixed Assets Account Group for the year ended June 30, 1994 follows:
Service
July 1, 1993
Additions
Deductions
June 30, 1994
Government
$ -
Building and improvements
2,125,334
-
Land
$ 8,060,221
$ -
$ -
$ 8,060,221
Buildings
67,222,196
170,122
-
67,392,318
Improvements other than buildings
842,139
3,014
-
845,153
Machinery and equipment
2,384,659
94,997
630,675
1,848,981
Construction work -in- progress
1,180,894
5,167,984
-
6,348,878
$ 79,690,109
$ 5,436,117
$ 630,675
$ 84,495,551
School District
Equipment
$ 2 ,772,982
$ 325,462
$ 107,651
$ 2,990,793
The following is a summary of Proprietary Fund fixed assets at June 30, 1994:
$ 40,275
Building and improvements
Internal
Equipment
Enterprise
Service
7,217,471
Funds
Fund
Sewer and water lines
$ 16,224,046
$ -
Building and improvements
2,125,334
-
Equipment
583,562
699,245
18,932,942
699,245
Less: accumulated depreciation
(3,282,443)
(134,707)
Net fixed assets
$ 15,650,499
$ 564,538
The following is a summary of Hospital fixed assets at June 30, 1994
Land and improvements
$ 40,275
Building and improvements
4,136,072
Equipment
3,041,124
7,217,471
Less: accumulated depreciation
(4,167 570)
Net fixed assets $ 3,049,901
23
NOTE 7: HOSPITAL CAPITAL LEASE OBLIGATION
The Hospital leases equipment under a long -term lease agreement at an imputed 8.50% rate of interest. The
unamortized cost of such equipment included in fixed assets at June 30, 1994 is $316,000. 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,
1995
1996
1997
1998
Total minimum lease payments
Less interest
Present value of minimum lease payments
Less current portion
Capital lease obligation
$ 154,239
127,781
13,245
2,678
297,943
(28,434)
269,509
(133,999)
$ 135,510
24
1
t
L
This page intentionally left blank.
1
w
NOTE 8: LONGTERM DEBT
The following is a summary of long -term debt for the year ended June 30, 1994:
* Interest free unless delinquent; then 7% plus fees and penalties
Interest
Principal Payments
Isuse
Maturity
Type of Debt
Rates
Dates
Date
Dates
Dates
Amount
Environmental Protection Agency
Asbestos Abatement Loan
N /A*
N /A*
6/20/85
1118105
12/31/94
$ 10,408
6/30 and 12/31
1995 thru 2004
20 x 10,417
218,748
General Obligation School
Refunding Bonds - 1989 Series
6.6 -8.0%
811 -2/1
5/1/89
8/1/00
8/1/94
780,000
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
6,700,000
General Obligation School
Refunding Bonds - 1991 Series
4.65 -5.90
12/1 -6/1
7/15/91
6/1/96
12/1/94
765,000
611195
250,000
12/1/95
750,000
6/1/96
250,000
2,015,000
General Obligation Bonds - 1993 Series
4.05 -7.00%
8115 -2/15
11/15/93
2/15/06
2 115/95
455,000
2115/96
625,000
2/15/97
655,000
2115/98
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
9,215,000
General obligation Bonds - 1994 Series
5.40 -5.50%
8/15 -2/15
11/15/93
2115/14
2 115/10
4,465,000
2/15/14
5,520,000
9,985,000
$ 28,133,748
* Interest free unless delinquent; then 7% plus fees and penalties
Authorized Prior Years Current Year
Fiscal Balance at Balance at
Year Amount Issued Retired July 1, 1993 Issued Retired June 30, 1994
1985 $ 375,000 $ 375,000 $ 135,419 $ 239,581 $ - $ 20,833 $ 218,748
1989 10,000,000 10,000,000 2,575,000 7,425,000
1992 4,875,000 4,875,000 1,830,000 3,045,000
725,000 6,700,000
1,030,000 2,015,000
1994 9,215,000 - 9,215,000 9,215,000
1994 9,985,000 - - - 9,985,000 - 9,985,000
$ 34,450,000 $ 15,250,000 $ 4,540,419 $ 10,709,581 $ 19,200,000 $ 1,775,833 $ 28,133,748
27
The annual requirements to amortize all general obligation bonded debt and the EPA loan payable outstanding as
of June 30, 1994, including interest payments of $14,177,568 on the general obligation debt, are as follows:
The amount of $4,133,559 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.
General Obligation Bonds - 1993 Series A and 1994
Series A
t
[I
NOTE 9: CAPITAL PROJECTS FUNDS
CONSTRUCTION COMMITMENTS
A summary of Capital Projects Funds construction
commitments at June 30, 1994 follows:
Various Borough Projects $1,221,678
School Bond Improvements 442,465 '
Hospital Bond Improvements 1,808,318
State capital trusts 6.668
In 1994 the Borough sold two series of general $ 3-479-129
obligation bonds, 1993 Series A for $9,215,000 and
1994 Series A bonds for $9,985,000, totaling Resources are presently available or committed to
$19,200,000. The Borough used $9,500,000 to pay the finance construction commitments at June 30, 1994 for
cost of hospital and related capital improvements, and all funds.
the remaining proceeds, $9,700,000 were used to pay
the cost of school and related capital improvements.
28 1
General
EPA Loan
June 30,
Obligation
Payables
Total
1995
$ 3,895,437
$ 20,833
$ 3,916,270
1996
3,830,170
20,833
3,851,003
1997
2,782,938
20,833
2,803,771
1998
2,779,286
20,833
2,800,119
1999
2,780,415
20,833
2,801,248
Thereafter
26,024,322
114,583
26,138,905
$ 42,092,568
$ 218,748
$ 42,311,316
The amount of $4,133,559 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.
General Obligation Bonds - 1993 Series A and 1994
Series A
t
[I
NOTE 9: CAPITAL PROJECTS FUNDS
CONSTRUCTION COMMITMENTS
A summary of Capital Projects Funds construction
commitments at June 30, 1994 follows:
Various Borough Projects $1,221,678
School Bond Improvements 442,465 '
Hospital Bond Improvements 1,808,318
State capital trusts 6.668
In 1994 the Borough sold two series of general $ 3-479-129
obligation bonds, 1993 Series A for $9,215,000 and
1994 Series A bonds for $9,985,000, totaling Resources are presently available or committed to
$19,200,000. The Borough used $9,500,000 to pay the finance construction commitments at June 30, 1994 for
cost of hospital and related capital improvements, and all funds.
the remaining proceeds, $9,700,000 were used to pay
the cost of school and related capital improvements.
28 1
1
J
t
1
1
1
1
1
L�l
1
1
NOTE 10: ENTERPRISE FUNDS SEGMENT INFORMATION
The Borough owns and operates a Water and Sewer Utility Fund and a Sanitary Services Fund. Segment financial
data as of and for the year ended June 30, 1994 for the Sanitary Services, Water and Sewer Utilities are as follows:
Operating revenues
Depreciation expense
Operating income (loss)
Net loss
Amortization of contributions in
aid of construction
Property, plant and equipment additions
Net working capital
Total assets
Total equity
Sanitary
Water
Sewer
383,040
Services
Utility
Utility
Total
1,646,210
S 430,532
S 528,944
S 2,605,686
81,255
109,653
197,065
387,973
(291,294)
(121,944)
(202,760)
(615,998)
(291,294)
(110,261)
(191,079)
(592,634)
76,805
109,645
196,590
383,040
29,679
15,115
16,105
60,899
(124,123)
195,410
228,653
299,940
2,428,634
5,528,281
9,154,365
17,111,280
1,787,013
5,436,585
9,072,220
16,295,818
NOTE 11:DEFERRED COMPENSATION PLANS
Boron
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.
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.
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 employee's contributions and deposits
them with the plan trustee. The Hospital does not
make contributions to this plan.
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 the
aggregate. Under the policy the Hospital retains the
first $10,000 per loss event and $50,000 in the
aggregate. However, the Hospital has deposited
$173,786 into a fund, which is held by a trustee, for
use in funding these retention levels or as
29
tail coverage for claims occurring prior to January 1, At June 30, 1994, the Hospital has accrued $242,353
1987. Accordingly, claims based on occurrences prior for incidents that may have occurred and not been
to that date, will be subject to this self - insurance identified by the Hospital.
coverage.
NOTE 13: INDIVIDUAL FUND DISCLOSURES
* Interfimd Receivables and Pavables
A summary of interfund receivables and payables at June 30, 1994 is as follows:
General Fund
Special Revenue Funds -
Mental Health
Energy /Coastal Management
Day Care
Land Sales
Building and Grounds
Community and Regional Affairs
Oil Spill Cleanup
Debt Services Fund -
School Bonds
Other
Capital Project Funds -
Various Borough Projects
School Bond Improvements
Hospital Bond Improvements
School Equipment and Furnishings
State Capital Grants
School Major Maintenance
Enterprise Funds -
Sanitary Services
Sewer Utility
Component Unit -
School District
Receivable Payable
$ - $ 4,716,362
105,000
30,000
- 10,000
80,000 -
128,500 -
- 3,500
100,000 145,000
350,325 -
50,000 -
375,000
- 15,000
350,000 -
40,000 -
- 240,000
240,000 -
4,952,642 651,605
$ 6,291,467 $ 6,291,467
Fund Deficits
The fund deficits at June 30, 1994 are as follows:
Capital Projects Funds -
State Capital Grants $ 42,975
Special Revenue funds -
Energy /Coastal Management 20
Community and Regional Affairs 3,415
Oil Spill Clean-up 4.072 /
$ 50,482 .>
Management intends to fund the deficits in fiscal year
1995 through transfers from other funds.. _
b�-
Proprietary Funds
Transfers - d `
Excess
Internal service
Interfund oQeratin transfe 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
Sewer
year ended June 30, 1994, were as follows:
Transfers In
54
School
Special Debt Capital Internal District
Transfers General
Revenue Service Projects Service Component
Out Fund
Funds Funds Funds Funds Unit
Fund 130M
General Fund $ 3,824,000 $ - $
295,000 $ 9,000 $ 70,000 $ 250,000 $ 3,200,000
Special Revenue Funds 309,635 -
- 4,765 304,870 - -
Debt Service Funds 1,680,789 4,759
1,030 - 1,675,000 - -
Capital Projects Funds 112,000 -
- - 112,000 - -
Schoot District Component Unit 2,075,565 -
- 2,075,565 - -
Total Transfers $ 8,001,989 $ 4,759 $
296,030 $ 2,089,330 $ 2,161,870 $ 250,000 $ 3,200,000
Excess of Expenditures Over Appropriations
General Fund
The following departments' expenditures exceeded their appropriations:
Department Excess
Building Inspector $ 288
The following funds' expenditures exceeded their appropriations:
Special Revenue Funds
Fund Excess
Bay View Road $ 2.006
jl
1
1 31
Proprietary Funds
Fund
Excess
Internal service
$ 88,491
Sanitary services
254,994
Water
160,476
Sewer
301.704
54
jl
1
1 31
Proprietary Funds' reconciliation of fund equity for the year ended June 30, 1994 is as follows:
Fund equity at beginning of year
Net income (loss)
Contributions in aid of construction
Fund equity at end of year
Enterprise Funds
Sanitary Water Sewer Internal
Services Utility Utility Service Fund
F1
$ 2,078,307 $ 5,531,731 $ 9,247,194 $ -
(291,294) (110,261) (191,079) (74,638)
15,115 16,105 617,382
$ 1,787,013 $ 5,436,585 $ 9,072,220 $ 542,744 '
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 $281,449 as of June 30, 1994, which is
based on 21% usage (filled) of the landfill. Of the total
liability at June 30, 1994, $28,454 was accrued in the
current year based on current year usage. The
remaining $252,995 represents the cumulative effect of
adopting GASB 18 (See Note 1B) in the current year
and is the estimated liability based on prior years'
landfill usage. It is estimated that an additional
$1,068,551 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, 1994. 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.
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
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
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.
Ll
1
1
32
I
1
1
I
1
1
n
GENERAL FUND
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.
� I
KODIAK ISLAND BOROUGH
EXHIBIT A -1
GENERAL FUND
COMPARATIVE BALANCE SHEETS
JUNE 30, 1994 AND 1993
1994 1993
ASSETS
Equity in central treasury
$
25,471
$
25,117
Temporary investments
6,798,485
6,270,623
Total cash and investments
6,823,956
6,295,740
RECEIVABLES:
Accounts receivable
50,681
90,538
State of Alaska
38,623
45,249
Due from other funds
-
2,114
Property taxes:
Delinquent taxes
176,971
158,630
Allowance for uncollectible delinquent taxes
(15,828)
(17,667)
Accrued interest receivable
92,854
128,301
Net receivables
343,301
407,165
$
7,167,257
$
6,702,905
LIABILITIES AND FUND BALANCE
LIABILITIES:
Accounts payable
$
48,715
$
87,115
Payroll taxes and employee benefits
22,842
45,240
Due to other funds
4,716,362
4,528,640
Other accrued liabilities
3,685
6,589
Total liabilities
4,791,604
4,667,584
FUND BALANCE:
Unreserved - designated for subsequent year expenditures
2,375,653
2,035,321
Total fund balance
2,375,653
2,035,321
$
7,167,257
$
6,702,905
33
J
KODIAK ISLAND BOROUGH
EX "ff A -2 I
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COWARATTVE TOTALS FOR 1993
1994
Revenues:
Property taxes:
Real
Personal
Motor vehicle
Penalty and interest
Payments in Lieu of Taxes
Total property taxes
Severance taxes:
Fish
Mining
Logging
Total severance taxes
Intergovernmental:
State sources:
State Shared Revenue
Municipal Assistance
Raw Fish Tax
Electric co-op tax
Miscellaneous
Total State sources
Federal sources
Total intergovernmental revenue
Licenses, permits, fees and other local revenues:
Building and trailers
Subdivision and zoning fees
Sale of copies
Emergency medical services
Miscellaneous
Total licenses, permits, fees and
other local sources
Investments and property:
Interest income
Total investments and property
Total revenues
Variance-
Favorable 1993
Budget Actual (Unfavorable) Actual
S 2,748,300 S
2,699,552
S (48,748) S
2,594,118
532,010
509,371
(22,639)
508,643
180,000
163,344
(16,656)
150,012
111,000
118,808
7,808
101,072
424,000
430,014
6,014
423,863
3,995,310
3,921,089
(74,221)
3,777,708
605,000
507,510
(97,490)
581,875
5,000
3,305
(1,695)
4,822
204,700
258,814
54,114
116,753
814,700
769,629
(45,071)
703,450
410,000
399,010
(10,990)
517,464
419,000
402,201
(16,799)
451,010
1,234,000
1,244,127
10,127
1,005,664
8,000
9,275
1,275
10,007
700
192
(508)
240
2,071,700
2,054,805
(16,895)
1,984,385
6,300
8,413
2,113
7,345
2,078,000
2,063,218
(14,782)
1,991,730
1
t
60,000
38,813
(21,187)
21,819
5,000
6,803
1,803
5,568
500
2,428
1,928
9,922
33,000
13,864
(19,136)
30,665
48,200
395,986
347,786
365,851
146,700
457,894
311,194
433,825
250,000
291,047
(41,047)
289,570
250,000
291,047
(41,047)
289,570
S 7,284,710 S
7,502,877
S 218,167 S
7,196,283
,
continued
34 1
1
KODIAK ISLAND BOROUGH
' Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1994
Kodiak, Alaska
' Jerome Selby, Borough Mayor
7
7
Prepared by Finance Department:
Karleton Short, Finance Director
Cheryl Bolger, Accountant
u
KODIAK ISLAND BOROUGH EX MIT A -2, continued
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
1994
Expenditures:
Borough assembly
Mayor's department
Clerk's department
Legal services
Finance department
Data services
Assessment department
Engineering facilities department
Community development department
Building inspector
Economic development
General administration
Emergency preparedness
Educational support
Health and sanitation
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 of revenues and transfers in
over expenditures and transfers out
Fund balance at beginning of year
Fund balance at end of year
Variance-
Favorable 1993
Budget Actual (Unfavorable) Actual
$ 147,734 $
147,423 $
311 $
152,022
185,720
185,593
127
168,417
244,542
239,279
5.263
216,059
223,278
220,847
2,431
271,495
633.410
607,632
25,778
386,552
-
-
-
278,662
317,060
287,405
29,655
248,819
160,176
115,043
45,133
120,645
404,700
390,882
13,818
384,649
81,850
82,138
(288)
72,550
72,000
60,914
11,086
38,896
369,850
362,117
7,733
384,920
18,200
9,906
8,294
33,552
126,000
115,695
10,305
174,721
442,450
385,430
57,020
432,752
133,000
133,000
-
198,586
3,559,970
3,343,304
216,666
3,563,297
3,724,740
4,159,573
434,833
3,632,986
-
4,759
4,759
-
(624,000)
(624,000)
-
(358,782)
(3,200,000)
(3,200,000)
-
(3,220,460)
(3,824,000)
(3,819,241)
4,759
(3,579,242)
$ (99,260)
340,332 $
439,592
53,744
2,035,321
1,981,577
$
2,375,653
$
2,035,321
35
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TO TALS FOR 1993
EXHIBIT A -3
1994
Variance-
Favorable 1993
Budget Actual (Unfavorable) Actual
Expenditures:
Borough assembly:
Personnel services
Fringe benefits
Support, goods and services
Lobbyist
Total
Mayor's department:
Personnel services
Fringe benefits
Support, goods and services
Total
Clerk's department
Personnel services
Fringe benefits
Support, goods and services
Capital outlay
Total
Legal services:
Legal fees
Support; goods and services
Total
Finance department
Personnel services
Fringe benefits
Support goods and services
Capital outlay
Allocated to projects
Total
Data services:
Personnel services
Fringe benefits
Contracted services
Support goods and services
Capital outlay
Allocated to projects
Total
$ 16,800 $
16,800
$ - $
16,600
1,514
1,513
1
1,284
74,074
73,654
420
76,036
55,346
55,456
(110)
58,102
147,734
147,423
311
152,022
106,920
107,726
(806)
103,131
34,710
33,998
712
29,921
44,090
43,869
221
35,365
185,720
185,593
127
168,417
120,642
118,977
1,665
115,353
42,400
42,436
(36)
37,453
80,100
76,485
3,615
63,253
1,400
1,381
19
-
244,542
239,279
5,263
216,059
160,778
156,531
4,247
234,810
62,500
64,316
(1,816)
36,685
223,278
220,847
2,431
271,495
331,350
316,156
15,194
272,990
102,730
101,159
1,571
79,837
219,050
223,000
(3,950)
54,600
6,280
6,871
(591)
2,679
(26,000)
(39,554)
13,554
(23,554)
633,410
607,632
25,778
386,552
-
-
-
217,801
-
-
-
62,634
-
-
-
12,817
-
-
-
83,630
-
-
-
51,780
-
_ -
-
(150,000)
36
278,662
continued
1
t
r
1
KODIAK ISLAND BOROUGH EXHIBIT A -3, continued
GENERAL FUND
SCHEDULE OF EXPENDr=S AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
Engineering facilities department
Personnel services
174,640
1994
(36,841)
171,120
Fringe benefits
52,750
71,733
Variance-
50,921
Contracted services
11,000
2,860
Favorable
1993
Support, goods and services
Budget
Actual
(Unfavorable)
Actual
Assessment department
3,000
1,219
1,781
-
Personnel services
$ 174,120
$ 156,989
$ 17,131 $
166,432
Fringe benefits
57,540
47,956
9,584
50,497
Contracted services
-
2,425
Support, goods and services
82,175
79,808
2,367
27,865
Capital outlay
3,225
2,652
573
1,600
Total
317,060
287,405
29,655
248,819
Engineering facilities department
Personnel services
174,640
211,481
(36,841)
171,120
Fringe benefits
52,750
71,733
(18,983)
50,921
Contracted services
11,000
2,860
8,140
16,351
Support, goods and services
44,750
37,879
6,871
40,649
Capital outlay
3,000
1,219
1,781
-
Allocated to projects
(125,964)
(210,129)
84,165
(158,396)
Total
160,176
115,043
45,133
120,645
Community development department
Personnel services
276,100
278,174
(2,074)
266,030
Fringe benefits
101,510
93,841
7,669
87,158
Contracted services
300
-
300
190
Support; goods and services
63,130
58,651
4,479
49,181
Capital outlay
2,760
2,760
-
2,886
Allocated to projects
(39,100)
(42,544)
3,444
(20,796)
Total
404,700
390,882
13,818
384,649
Building inspector.
Contracted services
79,800
79,960
(160)
72,446
Support, goods and services
2,050
2,178
(128)
104
Total
81,850
82,138
(288)
72,550
Economic development
General services:
Personnel services
-
5,939
(5,939)
-
Fringe benefits
-
590
(590)
-
Contracted services
44,000
22,424
21,576
21,888
Support goods and services
3,000
6,961
(3,961)
8
Contributions:
Kodiak Convention Bureau
25,000
25,000
-
17,000
Total
72,000
60,914
11,086
38,896
continued
37
38 1
'
KODIAK ISLAND BOROUGH
EXMBTT A -3, continued
GENERAL FUND
SCHEDULE OF EXPENDTT[JRES AND TRANSFERS
,
BUDGET AND ACTUAL
x
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
1994
Variance-
r
Budget
Actual
Favorable
(Unfavorable)
1993
Actual
General administration:
Personnel services
$ 39,810 $
35,679
$ 4,131 $
25,791
Fringe benefits
9,010
11,923
(2,913)
24,319
Professional fees
134,000
131,519
2,481
169,821
Support goods and services
173,870
170,842
3,028
163,689
'
Capital outlay
13,160
12,154
1,006
1,300
Total
369,850
362,117
7,733
384,920
Emergency preparedness:
Support, goods and services
8,200
2,846
5,354
13,152
Capital outlay
Total
10,000
18,200
7,060
9,906
2,940
8,294
20,400
,
33,552
Educational support:
Support goods and services
100,000
92,538
7,462
150,000
Audit expense
26,000
23,157
2,843
24,721
Total
126,000
115,695
10,305
174,721
Health and sanitation:
Emergency medical services
32,450
30,143
2,307
40,895
Animal control
48,000
48,000
-
48,596
Council on Alcoholism
70,500
40,787
29,713
100,000
State Health Services Villages
-
-
-
25,800
State Health Services KANA
8,000
8,000
-
8,600
Women's Resource Crisis
29,700
29,700
-
38,114
American Red Cross
2,000
2,000
-
2,000
Alaska Legal Services
2,000
2,000
.
Kodiak Baptist Mission
30,000
30,000
-
60,000
Small World (Day Care)
16,000
16,000
-
18,000
Special Olympics
6,000
6,000
-
7,000
Health Center Support
2,000
2,000
-
1,747
Senior Citizen Support
24,000
24,000
-
24,000
Kodiak Respite Care
3,000
3,000
-
3,000
Rainbow Child Care Center
2,000
2,000
-
-
Salvation Army
5,000
5,000
-
Brother Francis Center
20,000
20,000
Ambulance service
141,800
116,800
25,000
55,000
f
Total
442,450
385,430
57,020
432,752
continued
,
38 1
�J
1
KODIAK ISLAND BOROUGH EXHIBIT A -3, continued
GENERAL FUND
SCHEDULE OF EXPENDTFURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATFVE TOTALS FOR 1993
Alaska Future Leaders
Total
Total expenditures
Other financing sources:
Operating transfers in:
Debt service:
Other
Total other financing sources
Transfers to component units:
School District
Hospital
Total transfers to component units
Other financing uses:
Operating transfers out
Special revenue funds:
Mental Health Center
Building and grounds
Debt service fund:
Other
Internal service fund:
Data processing
Capital projects fund:
Various Borough projects
Total operating transfers out
Total other financing uses
Net other financing sources (uses)
Total expenditures and transfers
2,000
2,000
1994
133,000
133,000
- 198,586
anance-
3,343,304
216,666 3,563,297
-
Favorable
1993
-
Budget
Actual (Unfavorable)
Actual
Culture and recreation:
- (3,200,000)
-
-
KMXT Public Radio
$ 12,000
$ 12,000 $ - $
12,000
Historical Society
9,000
9,000 -
9,000
Summer basketball
4,000
4,000 -
3,886
Kodiak Island Sport Association
2,000
2,000 -
2,500
Kodiak Art Council
13,000
13,000 -
12,000
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 -
60,000
Head Start
8,200
8,200 -
8,200
Kodiak College
34,000
34,000 -
34,000
Kodiak Little League
2,500
2,500 -
2,000
Kodiak Library Association
-
- -
1,500
Santa in the Villages
2,300
2,300 -
1,000
Karluk IRA Council
20,000
20,000 -
20,000
KANA Dorms
-
- -
6,500
KANA Alutiiq Studies
-
- -
3,500
Elks Fireworks
-
- -
1,500
Alaska Future Leaders
Total
Total expenditures
Other financing sources:
Operating transfers in:
Debt service:
Other
Total other financing sources
Transfers to component units:
School District
Hospital
Total transfers to component units
Other financing uses:
Operating transfers out
Special revenue funds:
Mental Health Center
Building and grounds
Debt service fund:
Other
Internal service fund:
Data processing
Capital projects fund:
Various Borough projects
Total operating transfers out
Total other financing uses
Net other financing sources (uses)
Total expenditures and transfers
2,000
2,000
- -
133,000
133,000
- 198,586
3,559,970
3,343,304
216,666 3,563,297
-
4,759
4,759 -
-
4,759
4,759 -
(3,200,000)
(3,200,000)
- (3,200,000)
-
-
- (20,460)
(3,200,000)
(3,200,000)
- (3,220,460)
(245,000)
(245,000)
- (241,280)
(50,000)
(50,000)
- (100,000)
(9,000)
(9,000)
- (17,502)
(250,000)
(250,000)
- -
(70,000)
(70,000)
- -
(624,000)
(624,000)
- (358,782)
(3,824,000)
(3,824,000)
- (3,579,242)
(3,824,000)
(3,819,241)
4,759 (3,579,242)
$ (7,383,970) $
(7,162,545) $
(211,907) $ (7,142,539)
39
1
1
11
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
1
L'
1
This page intentionally left blank.
w
1 41
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
AND CHANGES IN FUND BALANCE
NNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
42
s
s
Fire and Road Service Districts
Fire
Road
Women's
Monashka
District
District
Women's
Bay View
Area 1
Bay
Bay
One
Two
Bay
Road
ASSETS
Equity in central treasury
$
113,476
$
39,409
$ 38,048
$ 224,190
S
2,945
S
190,242
$
1,886
Temporary investments
375,880
-
-
-
-
-
-
Receivables:
State of Alaska
-
-
-
I.and sales contract, due within one year
-
-
Accrued interest
119
-
-
-
-
-
-
Other
6,432
941
1,271
5,510
141
11,817
299
Allowance for doubtful receivables
-
-
-
-
-
-
-
Due from other funds
-
Prepaid expenses
-
-
-
Land sale contracts, due after one year
$
495,907
S
40,350
$ 39,319
$ 229,700
$
3,086
$
202,059
$
2,185
LIABII-ITTES AND FUND BALANCES
LIABILITIES:
Accounts payable
$
136,353
$
3,415
$ -
$ 2,237
$
-
$
25,899
$
-
Employee benefits accrued and withheld
1,627
-
-
-
-
Customer deposits
-
275
-
-
Deferred and unrealized revenues
-
-
-
Due to other funds
Total liabilities
137,980
3,690
-
2,237
25,899
FUND BALANCES:
Reserved:
Prepaid expenses
-
-
-
-
-
-
-
Unreserved:
Undesignaud
357,927
36,660
39,319
227,463
3,086
176,160
2,185
Total fund balances
357,927
36,660
39,319
227,463
3,086
176,160
2,185
$
495,907
$
40,350
S 39,319
$ 229,700
$
3,086
S
202,059
$
2,185
42
s
s
Et
Z£L`I8L`£
$ 8I4
$ 8S6`ObT
$ 58
$ IZ8`9T
$ 9£b`94I
S 06Z`088'I $
£8I`£b
S OWL£
S 668'404 $
946`£56`1
8LZ`610`Z
(ZLO`4)
(Sib`£)
914`91
£68 Z£I
89L`£9L
40Z'9
(OZ)
bOL`49Z
Z£8'9I6I
SLZ`610`Z
(ZLO`4)
(Sib`£)
9Ib'91
£68`Z£i
89L`£9L
17OZ`9
(OZ)
bOL`b9Z
171I`L£
-
(I8L`19)
(000`SZI)
-
-
(000`5Z)
-
(000'00I)
98L'LZ8'1
041'£991
0£0`SbI
005`£
504
£4S`£I
ZZS`9I1
6L6'9£
09I'L£
S6I`ObI
ZLZ 8� OZ
OO� S £ 6Z
— 000'541
00S� £—
-
I4£`80Z
000
— 000
000 S —
LOZ`060
ZO£`IOI`I
-
SL6`L£I
-
ZO£'IOI`I
-
-
-
Lb4`£
b49`9
408'80Z`I
S51'8501
-
-
5LZ`Z89
690
Ib9'6I
00£`OZ
8S6`OZ $ 58 $
6L5'91 S
9£6`LI S
SS6'0I S
1911
L6£`S $
-
Z15`LI
6IZ'90Z
$ b6£`I4Z
$ Of
$
$ 504
$ £45`£I
$ 650I $
6L6`9Z
$ 09I`L
$ 4I£'Ii $
Z£L'I8L'£
$ 8I4 Z89`£ $
856`041 $ 98 $
TZ8`9I $
9£b'M $
06Z'088`I $
£SI'£b $ 04I`L£ S
668'404 S
865'0 8
I IO£
-
-
IO£ I8
4II`L£
I4Z
- -
-
-
-
IbZ
8S1`90Z
005`80£
000`001 -
OOS`8Z1
000`08
(I8L`19)
(000`SZI)
-
-
(000`5Z)
(000'00I)
0£9`L9£
SL8`LIS
000`0Z
Z4Z
48£'61
-
I48`154
880Z
b64'II
- -
-
SL£`II
I4£`80Z
000`68Z
-
-
000'682
SL6`L£I
££4 ZZI
-
68£`8£ 4Z9`9£
OZ4'L4
408'80Z`I
S51'8501
-
5LZ`Z89
-
506`IL4
S 914`L89 $
8S6`OZ $ 58 $
6L5'91 S
9£6`LI S
SS6'0I S
b6L'4 $ 91S S
L6£`S $
4661
n� sne.$b
�eQ�Q 1�
Jo1uoz)
spunoa0
£661
sales Purl
sleloZ
ILLS l.0 leuo!b2I
su�y
Poe
lelSeO�
tPI=14
V ClnmunuoD
paelPOOM
��PpH
/a-
MUOIN
—sold 1u-9 'le1S
F]
I .LIgIHX3 I
I )
1'
KODIAK ISLAND
BOROUGH
Fire and Road Service Districts
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
Road
II
44 1
Fire and Road Service Districts
,
Fire
Road
Women's
Monashka
District
District
Women's
Bay View
Area 1
Bay
Bay
One
Two
Bay
Road
Revenues:
Property taxes
$ 184,729
$ 39,005
$ 22,720 $
172,447
$ 3,086
$ 78,124
$ 4,015
State sources
20,749
749
2,709
11,170
-
13,209
1,081
Federal sources
2.372
-
-
3,162
-
-
Land sale proceeds
-
_
Licenses, permits, fees
and other local revenues
6,000
6,850
10,000
Investments and property
14,719
Total revenues
228,569
46,604
25,429
186,779
3,086
101,333
5,096
Expenditures:
Planning and community development
t
Health and sanitation
_
General administration
155,879
42,024
_
Oil spill cleanup
_
_
Capital outlay:
Services district maintenance
12,154
48,440
66,954
6,006
General
Total expenditures
155,879
42,024
12,154
48,440
66,954
6,006
Excess (deficiency) of revenues
i
over (under) expenditures
72,690
4,580
13,275
138,339
3,086
34,379
(910)
Operating transfers in
Operating transfers out
(1620)
Net operating transfers
(3,620)
Excess (deficiency) of revenues and
operating transfers in over (under)
expenditures and operating transfers out
69,070
4,580
13,275
138,339
3,086
34,379
(910)
Fund balance beginning ofyear
288,857
32,080
26,044
89, 124
-
141,781
3,095
i
Fund balance at end of year
$ 357,927
$ 36,660
$ 39,319 $
227,463
$ 3,086
$ 176,160
$ 2,185
h
B
II
44 1
EXHIBIT B-2
(61,162)
Federal and
17,579
(123,112)
3,577
(33,369)
65,332
(970,143)
325,866
State Grant Programs
6,204 746,189
256,005
11839
(3,415)
29,297
1,953,946
2,924,089
Mental
Energy/
6,204 $ 763,768
$ 132,893 $
Buildings
Woodland
Community &
2,019,278
$ 1,953,946
Health
Coastal
and
Acres
Regional
Oil Spill
Totals
Center
Management
Day Care
Land Sales
Grounds
Lighting
Affairs
Cleanup
1994
1993
$
$ _
$ _
$
$
$ 10,730
$
$ 1,268
$ 516,124
$ 449,443
575,809
57,150
314,726
220
-
997,572
1,066,250
_
_
5,534
5,140
_
506,938
506,938
423,911
654,811
19,384
488
697,533
654,864
36,021
298,923
-
349,663
361665
1,266,641
57,150
314,726
526,322
298,923
10,950
488
1,268
3,073,364
2,962,273
-
57,150
-
-
-
-
-
-
57,150
44,200
1,573,833
314,726
-
-
-
1,888,559
1,675,705
-
190,698
472,035
7,373
488
-
868,497
1,102,612
_
_
_
-
34,637
34,637
109,158
_
-
133,554
202,856
12,030
-
12030
16,786
1,573,833
57,150
314,726
202,728
472,035
7,373
488
34,637
2,994,427
3,151,317
(307,192)
3231594
(173,112)
3,577
-
(33.369)
78,937
(189,044)
246,030
50,000
-
296,030
352,820
(306,015)
(309,635)
(1,133,919)
246,030
(306,015)
50,000
(11605)
(781,099)
(61,162)
17,579
(123,112)
3,577
(33,369)
65,332
(970,143)
325,866
(20)
6,204 746,189
256,005
11839
(3,415)
29,297
1,953,946
2,924,089
$ 264,704
$ 20 $
6,204 $ 763,768
$ 132,893 $
16,416
$ 3,415
$ (4,072) $
2,019,278
$ 1,953,946
45
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS -FIRE AREA 1
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
r
EXHIBIT B -3
1994
Revenues:
Property taxes
Federal sources - Payment in lieu of taxes
State sources - Shared revenue
Licenses, permits, fees and other local revenues
Investments and property
Total revenues
Expenditures:
General administration:
Fire chief
Volunteers
Fringe benefits
Professional services
Support costs
Capital outlay
Depreciation
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Operating transfers out - 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
Fund balance at end of year
72,600
69,553
Variance -
65,919
8,000
8,752
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
$ 182,500
$ 184,729
$ 2,229
$ 146,919
2,500
2,372
(128)
2,203
3,500
20,749
17,249
3,352
6,000
6,000
-
6,151
9,000
14,719
5,719
15,221
203,500
228,569
25,069
173,846
72,600
69,553
3,047
65,919
8,000
8,752
(752)
7,080
25,040
22,971
2,069
22,595
4,000
-
4,000
317,400
44,091
273,309
46,618
10,000
10,512
(512)
191,737
12,400
-
12,400
-
449,440
155,879
293,561
333,949
(245,940) 72,690 318,630 (160,103)
(3,620) (3,620) (2,959)
- (3,620) (3,620) (2,959)
$ (245,940) 69,070 $ 315,010 (163,062)
288,857 451,919
$ 357,927 $ 288,857
I�
f
I
t
1
fl
I
e
I
E,M
1 47
KO DIAK ISLAND BOROUGH
EXHIBIT B4
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS -FIRE WOMEN'S BAY
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
'
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS
FOR 1993
1994
Variance -
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes $
37,500 $
39,005
$ 1,505
$ 37,467
State sources:
Shared revenue
1,000
749
(251)
1,008
Grant
3,312
-
(3,312)
-
Licenses, permits, fees and other local revenues
8,500
6,850
(1,650)
5,705
Total revenues
50,312
46,604
(3,708)
44,180
Expenditures:
General administration:
Personnel services
Contracted services
1,700
-
-
-
1,700
-
-
300
Fringe benefits
8,200
6,931
1,269
6,084
Support costs
31,450
29,461
1,989
24,000
Capital outlay
8,962
5,632
3,330
11,505
Total expenditures
50,312
42,024
8,288
41,889
1
Excess of revenues over expenditures $
-
4,580
$ (11,996)
2,291
Fund balance at beginning of year
32,080
29,789
'
Fund balance at end of year
$
36,660
$ 32,080
1 47
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS -ROAD MONASHKA BAY
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED NNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT B -5 I
Expenditures:
1994
Capital outlay:
Variance -
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
Revenues:
229
(129)
767
Property taxes $ 21,600
$ 22,720
$ 1,120
$ 22,468
State sources - Shared revenue 3,200
2,709
(491)
3,037
Total revenues 24,800
25,429
629
25,505
Expenditures:
Capital outlay:
Services district maintenance:
Personnel services
100
229
(129)
767
Snow removal
13,500
6,223
7,277
6,715
Road grading
11,000
5,742
5,258
2,765
Support goods and services
200
(40)
240
307
Total expenditures
24,800
12,154
12,646
10,554
Excess of revenues over expenditures
$ -
13,275 $
13,275
14,951
Fund balance at beginning of year
26,044
11,093
Fund balance at end of year
$ 39,319
$
26,044
48
1'
e
1
1
r
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD DISTRICT 1
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTAL FOR 1993
EXHIBIT B-6
1994
Revenues:
Property taxes
Federal sources - Payment in lieu of taxes
State sources - Shared Revenue
Total revenues
Expenditures:
Capital outlay:
Services district maintenance:
Personnel services
Repairs and maintenance
Snow removal
Road grading
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
6,400
4,601
Variance -
4,990
-
64
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
$ 154,000
$ 172,447
$ 18,447
$ 153,740
3,000
3,162
162
2,937
10,000
11,170
1,170
10,594
167,000
186,779
19,779
167,271
6,400
4,601
1,799
4,990
-
64
(64)
-
94,000
26,930
67,070
48,263
84,900
15,990
68,910
52,997
1,700
855
845
13,904
-
-
-
3,500
187,000
48,440
138,560
123,654
L-20-10-0-01
138,339
$ 158,339
43,617
89,124
45,507
$ 227,463
$ 89,124
ELI
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD DISTRICT 2
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994
EXHIBIT B -7
1994
Revenues:
Property taxes
Total revenues
Expenditures:
Capital outlay:
Services district maintenance
Total expenditures
Excess of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
Variance -
Favorable
Budget Actual (Unfavorable)
$ 1,620 $ 3,086 $ 1,466
1,620 3,086 1,466
$ 1,620
3,086 $ 1,466
$ 3,086
50
KODIAK ISLAND BOROUGH
EXHIBIT 13-8
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD WOMEN'S BAY
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
t
Revenues:
Property taxes
State sources - Shared revenue
Licenses, permits, fees and other local revenues
Total revenues
Expenditures:
Capital outlay:
Personnel services
Snow removal
Road grading
Repairs and maintenance
Services district maintenance
Total expenditures
Excess of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
141,781 96,395
$ 176,160 $ 141,781
51
1994
Variance -
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
$ 69,150
$ 78,124
$ 8,974
$ 75,087
14,000
13,209
(791)
14,639
20,000
10,000
(10,000)
20,000
103,150
101,333
(1,817)
109,726
1,500
1,354
146
942
19,000
17,388
1,612
23,643
21,000
9,184
11,816
10,075
39,000
38,966
34
27,999
22,650
62
22,588
1,681
103,150
66,954
36,196
64,340
$ -
34,379
$ 34,379
45,386
141,781 96,395
$ 176,160 $ 141,781
51
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS -ROAD BAY VIEW
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHMrr B -9
1994
Revenues:
Property taxes
State sources - Shared revenue
Total revenues
Expenditures:
Capital outlay:
Services district maintenance:
Personnel services
Snow removal
Road grading
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
- 363
(363)
Variance -
2,000 1,866
134
2,234
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
$ 3,100
$ 4,015
$ 915
$ 3,882
900
1,081
181
1,124
4,000
5,096
1,096
5,006
- 363
(363)
827
2,000 1,866
134
2,234
2,000 3,777
(1,777)
1,100
- -
-
147
4,000 6,006
(2,006)
4,308
$ - (910)
$ (910)
698
3,095
2,397
$ 2,185
$
3,095
52
KODIAK ISLAND BOROUGH
EXHIBIT B -10
SPECIAL REVENUE FUNDS
MENTAL HEALTH CENTER
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS
1
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE
TOTALS FOR 1993
1994
Variance -
Favorable
1993
1
Budget
Actual
(Unfavorable)
Actual
Revenues:
State sources:
I
Health, Social and Community
Services Program
$ 575,200
S 575,200
$
$ 603,500
Division of Family and Youth Services
-
-
-
1,117
Other
Licenses, permits, fees and other local revenues:
-
609
609
-
1,359
Organization user fees
386,800
380,748
(6,052)
355,339
Individual user fees
298,000
274,063
(23,937)
233,105
Investments and property:
Rental fees
36,000
36,000
-
36,000
Interest
200
21
(179)
207
Total revenues
1,296,200
1,266,641
(29,559)
1,230,627
Expenditures:
Health and sanitation:
Mental health program:
Personnel services
1,435,030
1,213,053
221,977
1,162,670
Travel
39,950
37,076
2,874
27,148
Facility
79,900
77,545
2,355
74,560
Supplies
27,450
20,831
6,619
23,284
Equipment
13,900
11,468
2,432
14,754
Capital outlay
43,680
28,234
15,446
29,535
1
Other
101,590
185,626
(84,036)
73,009
Total expenditures
1,741,500
1,573,833
167,667
1,404,960
Excess (deficiency) of revenues
over (under) expenditures
(445,300)
(307,192)
138,108
(174,333)
Operating transfers in
245,000
246,030
(1,030)
241,280
1
Operating transfers out
(8,069)
Net operating transfers
245,000
246,030
(1,030)
233,211
1
Excess (deficiency) of revenues and
operating transfers in over (under)
expenditures and operating transfers out
$ (200,300)
(61,162)
$ 139,138
58,878
Fund balance at beginning of year
325,866
266,988
Fund balance at end of year
$ 264,704
$ 325,866
53
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
MENTAL HEALTH CENTER
SCHEDULE OF EXPENDITURES
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 199
EXHIBIT B -11
Expenditures - Health, Social and Community
Services Program:
Personnel
Travel
Facility
Supplies
Equipment
Capital outlay
Other
Expenditures - Division of Family and Youth Services:
Personnel
Facility
Supplies
Other
- - - 1,117
Total expenditures $ 1,741,500 $ 1,573,833 $ 167,667 $ 1,404,960
54
1994
Variance -
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
$ 1,435,030 $
1,213,053
$ 221,977 $
1,162,482
39,950
37,076
2,874
27,148
79,900
77,545
2,355
74,135
27,450
20,831
6,619
23,106
13,900
11,468
2,432
14,754
43,680
28,234
15,446
29,535
101,590
185,626
(84,036)
72,683
1,741,500
1,573,833
167,667
1,403,843
-
-
-
188
-
-
-
425
-
-
-
178
-
-
-
326
- - - 1,117
Total expenditures $ 1,741,500 $ 1,573,833 $ 167,667 $ 1,404,960
54
KODIAK ISLAND BOROUGH EXHIBIT B -12
SPECIAL REVENUE FUNDS
ENERGY /COASTAL MANAGEMENT
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
1994
Revenues:
State sources - Grants
Total revenues
Expenditures:
Planning and community development:
Planning and zoning
Total expenditures
Excess of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
Variance -
Favorable 1993
Budget Actual (Unfavorable) Actual
$ 57,950 $ 57,150 $ ( 800) $ 44,200
57,950 57,150 (800) 44,200
57,950 57,150 800 44,200
57,950 57,150 800 44,200
$ - - $ - -
(20)
$ (20)
(20)
$ (20)
55
KODIAK ISLAND BOROUGH
EXHIBIT B -13
SPECIAL REVENUE FUNDS
DAY CARE
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
1994
Revenues:
State sources - Grants
Total revenues
Expenditures:
Health and sanitation:
Day care payments
Total expenditures
Excess of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
Variance -
Favorable 1993
Budget Actual (Unfavorable) Actual
$ 340,160 $ 314,726 $ (25,434) $ 273,121
340,160 314,726 (25,434) 273,121
340,160 314,726 25,434 270,745
340,160 314,726 25,434 270,745
$ - - $ - 2,376
6,204 3,828
$ 6,204 $ 6,204
56
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
LAND SALES
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT B-14
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
Interest
Total expenditures
Excess of revenues over expenditures
Operating transfers out - Capital projects fund
Debt service fund
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
126,070
123,709
Variance-
115,857
15,500
37,496
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
$ 423,800
$ 506,938
$ 83,138
$ 423,911
60,000
19,384
(40,616)
24,901
200
-
(200)
5,250
40,000
-
(40,000)
24,778
524,000
526,322
2322
478,840
126,070
123,709
2,361
115,857
15,500
37,496
(21,996)
7,181
50,230
29,493
20,737
26,704
27,330
9,706
17,624
16,786
-
2,324
(2,324)
-
219,130
202,728
16,402
166,528
304,870
323,594
18,724
312,312
(304,870)
(304,870)
-
(1,122,891)
(1,145) (1,145) -
(304,870) (306,015) (1,145) (1,122,891)
$ - 17,579 $ 17,579 (810,579)
746,189 1,556,768
$ 763,768 $ 746,189
57
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
BUILDINGS AND GROUNDS
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED NNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT B -15
1994
Revenues:
Investments and property:
Rental
Interest income
Total revenues
Expenditures:
General administration:
School buildings
Borough building
Apartments
Parks operation and maintenance
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Operating transfers in - General 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
Fund balance at end of year
Variance -
Favorable 1993
Budget Actual (Unfavorable) Actual
$ 270,410
$ 292,410
$ 22,000
$ 274,606
13,030
6,513
(6,517)
11,853
283,440
298,923
15,483
286,459
229,120
180,152
48,968
248,690
318,860
251,149
67,711
263,066
27,460
33,962
(6,502)
33,402
18,000
6,772
11,228
23,424
593,440
472,035
121,405
568,582
(310,000)
(173,112)
136,888
(282,123)
50,000
50,000
-
100,000
50,000
50,000
-
100,000
$ (260,000) (123,112) $ 136,888 (182,123)
58
256,005 438,128
$ 132,893 $ 256,005
KODIAK ISLAND BOROUGH EXHIBIT B -16
SPECIAL REVENUE FUNDS
WOODLAND ACRES LIGHTING
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
59
1994
Variance -
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes
$ 7,380
$ 10,730
$ 3,350
9,880
State sources - Shared revenue
-
220
220
41
Total revenues
7,380
10,950
3,570
9,921
Expenditures:
General administration:
Personnel services
124
124
-
-
Electricity
4,000
4,235
(235)
3,148
Capital outlay
3,256
3,014
242
-
Total expenditures
7,380
7,373
7
3,148
Excess of revenues over
expenditures
$ -
3,577
$ 3,577
6,773
Fund balance at beginning of year
12,839
6,066
Fund balance at end of year
$ 16,416
$ 12,839
59
KODIAK ISLAND BOROUGH
EXHIBIT B -17
SPECIAL REVENUE FUNDS
COMMUNITY AND REGIONAL AFFAIRS
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
1994
Revenues:
Other
Total revenues
Expenditures:
General administration:
Support goods and services
Total expenditures
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
Variance -
Favorable 1993
Budget Actual (Unfavorable) Actual
$ 7,000 $ 488 $ (6,512) $ 4,413
7,000 488 (6,512) 4,413
7,000
7,000
.1
488 6,512 5,302
488 6,512 5,302
- $ - (889)
(3,415) (2,526)
$ (3,415) $ (3,415)
KODIAK ISLAND BOROUGH
EXHIBIT B-18
SPECIAL REVENUE FUNDS
OIL SPILL CLEANUP
SCHEDULE OF REVENUES, EXPENSES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
Project
Project
Project
Variance-
to Date
to Date
1994
to Date
Favorable
Budget
1993
Actual
1994
(Unfavorable)
Revenues:
Exxon reimbursements
$ 2,000,000 $
1,309,309
$ 1,268
$ 1,310,577
(689,423)
State sources:
Department of Environmental
Conservation grants
2,560,000
2,337,280
-
2,337,280
(222,720)
Department of Community and
Regional Affairs grants
13,600
13,600
-
13,600
-
Other sources
-
2,670
-
2,670
2,670
Total revenues
4,573,600
3,662,859
1,268
3,664,127
(909,473)
Expenditures:
Oil spill cleanup:
Personal services
555,170
554,886
24,338
579,224
(24,054)
Fringe benefits
9,330
76,364
8,150
84,514
(75,184)
Contracted services
-
111,867
1,186
113,053
(113,053)
Support goods and services
2,262,600
1,562,111
963
1,563,074
699,526
Capital outlay
-
30,373
-
30,373
(30,373)
Legal fees
10,000
169,806
-
169,806
(159,806)
Disbursements to villages
1,936,500
1,139,695
-
1,139,695
796,805
Total expenditures
4,773,600
3,645,102
34,637
3,679,739
1,093,861
Operating transfers in
-
11,540
-
11,540
11,540
Net operating transfers
-
11,540
-
11.540
11,540
Excess (deficiency) of revenues and
operating transfers in over (under)
expenditures and operating transfers out
$ (200,000)
29,297
(33,369)
(4,072)
$ 195,928
Fund balance at beginning of year
-
29,297
-
Fund balance at end of year
$
29,297
$ (4,072)
$ (4,072)
m
1
F-1
1
J
DEBT SERVICE FUNDS
I
1
i1
I
1
1
a
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
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
NNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT C -1
Totals
Bond Other 1994 1993
ASSETS
Equity in central treasury
Temporary cash investments
Due from School District
Due from General Fund
Accrued interest receivable
LIABILITIES AND FUND BALANCES
Accounts payable
Total liabilities
FUND BALANCES:
Unreserved:
Designated for subsequent year expenditures
$ 73,803
$ 183,266 $ 257,069
$ 708,789
3,676,440
- 3,676,440
5,255,089
100,325
- 100,325
-
250,000
50,000 300,000
9,000
32,991
- 32,991
99,846
$ 4,133,559
$ 233,266 $ 4,366,825
$ 6,072,724
$ -
$ - $ -
$ 263
-
- -
263
4,133,559
233,266
4,366,825
6,072,461
$ 4,133,559
$ 233,266
$ 4,366,825
$ 6,072,724
63
KODIAK ISLAND BOROUGH
EXHIBIT C -2
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, TRANSFERS
AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
s`
Totals s
Bonds Other 1994 1993
Revenues:
Investments and property:
Interest income
Miscellaneous
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:
Mental Health Center
Land sales
Fire Service District Area 1
Capital projects funds
Total other financing sources
Other financing uses:
Operating transfers out:
General Fund
Special revenue funds:
Mental Health Center
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 be ginnin g of year
Fund balance at end of year
$ 182,078 $
-
$ 182,078
$ 244,465
1,675,000
-
-
-
5,000
5,789
1,680,789
182,078
-
182,078
249,465
1,557,379
(1,713,612)
7,976
(1,705,636)
(675,346)
,
1,775,833
-
1,775,833
1,745,833
233,266
633,301
-
633,301
734,515
2,373
54,496
-
-
2,373
54,496
1,842
-
2,466,003
-
2,466,003
2,482,190
I
(2,283,925)
-
(2,283,925)
(2,232,725)
i
169,748
-
169,748
-
,
2,075,565
-
2,075,565
2,473,713
-
9,000
9,000
17,502
-
-
-
8,069
-
1,145
1,145
5,433
-
3,620
3,620
2,959
-
525,000
2,245,313
13,765
2,259,078
3,032,676
4,759 4,759 -
-
1,030
1,030
-
1,675,000
-
1,675,000
1,475,297
1,675,000
5,789
1,680,789
1,475,297
570,313
7,976
578,289
1,557,379
(1,713,612)
7,976
(1,705,636)
(675,346)
5,847,171
225,290
6,072,461
6,747,807
$ 4,133,559 $
233,266
$ 4,366,825
$ 6,072,461
64
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
BONDS
STATEMENT OF REVENUES, EXPENSES, TRANSFERS
AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT C -3
M "
1994
Variance -
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
Revenues:
Investments and property:
Interest income
$ 160,000
$ 182,078
$ 22,078
$ 244,465
Miscellaneous
-
-
-
5,000
160,000
182,078
22,078
249,465
Expenditures:
Debt service:
Principle
1,775,840
1,775,833
7
1,745,833
Interest
640,000
633,301
6,699
734,515
Fiscal agent fees
5,000
2,373
2,627
1,842
Other
287,700
54,496
233,204
-
Total expenditures
2,708,540
2,466,003
242,537
2,482,190
Excess (deficiency) of revenues
over(under)expenditures
(2,548,540)
(2,283,925)
264,615
(2,232,725)
Other financing sources (uses):
Proceeds of general obligation bonds
-
169,748
169,748
-
Transfer from component unit - School District
2,070,000
2,075,565
5,565
2,473,713
Operating transfers in:
Capital projects funds
-
-
-
525,000
Operating transfers out:
Capital projects fund
(1,675,000)
(1,675,000)
-
(1,475,297)
Net other financing sources
395,000
570,313
175,313
1,523,416
Excess (deficiency) of revenues and other financing
sources in over (under) expenditures
and other financing used
$ (2,153,540)
(1,713,612)
$ 439,928
(709,309)
Fund balance at beginning of year
5,847,171
6,556,480
Fund balance at end of year
$ 4,133,559
$ 5,847,171
M "
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
OTHER
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARAT TOTALS FOR 1993
EXTUM C-4
Expenditures:
Termination reserve
Total expenditures
Operating transfers in:
General Fund
Special revenue funds:
Mental Health Center
Land Sale
Fire Service District Area 1
Total operating transfers in
Operating transfers out:
General Fund
Special revenue fund:
Mental Health Center
Total operating transfers out
Net operating transfers
Excess of expenditures over net operating transfers
Fund balance at beginning of year
Fund balance at end of year
M .
225,290 191,327
$ 233,266 $ 225,290
1994
Variance -
Favorable
1993
Budget
Actual
(Unfavorable)
Actual
$ 9,000
$ -
$ 9,000
$ -
9,000
-
9,000
-
9,000
9,000
-
17,502
-
-
-
8,069
-
1,145
1,145
5,433
-
3,620
3,620
2,959
9,000
13,765
4,765
33,963
-
4,759
(4,759)
-
1,030
(1,030)
-
-
5,789
(5,789)
-
9,000
7,976
(1,024)
33,963
$ -
7,976
$ 7,976
33,963
M .
225,290 191,327
$ 233,266 $ 225,290
1
1
f
1
CAPITAL PROJECTS FUNDS
1
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
J
L
I
I �
fl
I This page intentionally left blank.
t
it
�J
1
fl
1 L 1
67
�
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
68
Various
School
Borough
Bond
Projects
Improvements
ASSETS
Equity in central treasury
$
22,802
$ 6,202
Temporary investments
1,661,056
9,471,909
Receivables:
State of Alaska
-
-
Federal Government
815,472
-
Accrued interest
-
73,370
Due from other funds
-
-
Total assets
$
2,499,330
$ 9,551,481
LIABILITIES AND FUND BALANCES
LIABILITIES:
Accounts payable
$
457,907
$ 190,092
Retainages payable
208,995
-
Due to other funds
375,000
15,000
Deferred revenue
-
-
Total liabilities
1,041,902
205,092
FUND BALANCES:
Reserved for encumbrances
1,221,678
442,465
Unreserved:
Designated for subsequent years expenditures
235,750
8,903,924
Total fund balance
1,457,428
9,346,389
$
2,499,330
$ 9,551,481
68
EXHIBIT D -1
Hospital State School
Bond Capital Major Totals
Improvements Grants Maintenance 1994 1993
$ 5,084 $
20,024 $ 938,125
$ 992,237
$ 47,291
8,971,909
- 1,857,020
21,961,894
5,025,201
-
56,283 -
56,283
105,685
_
- -
815,472
182,240
73,370
- 44,133
190,873
117,906
350,000
- 40,000
390,000
614,000
$ 9,400,363 $
76,307 $ 2,879,278
$ 24,406,759
$ 6,092,323
$ 6 $ 24,892 $ - $ 672,897 $ 559,215
1,432 - 210,427 44,154
- 390,000 614,000
- 92,958 - 92,958 119,113
6 119,282 - 1,366,282 1,336,482
1,808,318 6,668 - 3,479,129 1,748,190
7,592,039 (49,643) 2,879,278 19,561,348 3,007,651
9,400,357 (42,975) 2,879,278 23,040,477 4,755,841
$ 9,400,363 $ 76,307 $ 2,879,278 $ 24,406,759 $ 6,092,323
I
S C �a •
(, t 4
-
m
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCES
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
Excess (deficiency) of revenues and operating
transfers in over (under) expenditures and
operating transfers out (396,010) 8,952,390
Fund balances at beginning of year 1,853,438 393,999
Fund balances at end of year $ 1,457,428 $ 9,346,389
WK
Various
School
Borough
Bond
Projects
Improvements
Revenues:
State sources
$ -
$ _
Federal sources
2,448,030
-
Licenses, permits, fees and other local revenues
106,060
-
Investments and property
45,757
179,730
Asbestos settlement
-
_
Roof claim settlement
-
-
Total revenues
2,599,847
179,730
Expenditures:
Capital improvements:
Schools
4,438,830
708,749
General
414,027
-
Total expenditures
4,852,857
708,749
Excess (deficiency) of revenues
over (under) expenditures
(2,253,010)
(529,019)
Operating transfers in
1,857,000
-
Bond proceeds
-
9,481,409
Operating transfers out
-
-
Net operating transfers
1,857,000
9,481,409
Excess (deficiency) of revenues and operating
transfers in over (under) expenditures and
operating transfers out (396,010) 8,952,390
Fund balances at beginning of year 1,853,438 393,999
Fund balances at end of year $ 1,457,428 $ 9,346,389
WK
EXHIBIT D -2
Hospital
State
School
256,126
- (71,482)
Bond
Capital
Major
Totals
Improvements
Grants
Maintenance
1994
1993
$ -
$ 525,753
$ -
$ 525,753
$ 1,048,796
-
-
-
2,448,030
213,794
-
-
-
106,060
355
161,011
188
106,522
493,208
209,893
-
-
-
-
29,108
-
-
-
-
6,833
161,011
525,941
106,522
3,573,051
1,508,779
-
-
-
5,147,579
1,939,049
46,874
497,434
-
958,335
1,369,819
46,874
497,434
-
6,105,914
3,308,868
114,137
28,507
106,522
(2,532,863)
(1,800,089)
-
-
304,870
2,161,870
2,667,755
9,286,220
-
-
18,767,629
-
-
-
(112,000)
(112,000)
(611,540)
9,286,220
-
192,870
20,817,499
2,056,215
9,400,357 28,507
299,392
18,284,636
256,126
- (71,482)
2,579,886
4,755,841
4,499,715
$ 9,400,357 $ (42,975)
$ 2,879,278
$ 23,040,477
$ 4,755,841
71
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
SCHEDULE OF CAPITAL PROJECTS
EXHIBIT D -3
APPROPRIATIONS
EXPENDITURES
ENCUMBRANCES
PROJECT
TOTAL
TOTAL
UNEXPENDED
CURRENT
UNENCUMBERE
NO-
PROJECT
STATUS
PRIOR
1994
APPROPRIATIONS
PRIOR
1994
EXPENDITURES
BALANCE
ENCUMBRANCES
BALANCE
Capital Projects - Education:
2
410 -404 Work ofArt - Auditorium
Open
S 33,090
$ -
$ 33,090 S
13,500
S 5,000
$ 18,500
$ 14,590
$ -
S 14,590
6
410.415 Asbestos Removal Program
Open
75,000
-
75,000
63,471
-
63,471
11,529
-
11,529
18
410 -431 East Elementary Siding/Repair
Complete
45,005
(45,005)
-
-
-
-
-
-
-
19
410 -432 East Elementary Lighting
Complete
23,415
(23,415)
20
410 -433 East Elementary Storm Drain
Complete
12,689
(12,689)
23
410 -436 Ouanlde Roof Repair
Open
95,000
(83,146)
11,854
11,598
255
11,854
24
410 -437 Port Lions Shop Porch Dormers
Complete
35,332
(35,332)
-
-
-
-
25
410 -438 Port Lions Paint
Complete
29,500
(29,500)
-
-
-
-
-
-
-
28
410 -441 Old Harbor School Repair
Open
525,000
-
525,000
460,586
37,028
497,614
27,386
-
27,386
33
410 -446 High School Roof Maintenance
Open
30,000
15,000
45,000
11,765
27,033
38,798
6,202
-
6,202
34
410 -447 Main Elementary Roof
Complete
648,827
(648,827)
-
-
-
-
-
35
410 -448 Chinisk School Water System
Open
20,000
-
20,000
327
16,094
16,421
3,579
-
3,579
37
410 -450 Ouanlde School Paint
Complete
27,348
(27,348)
-
-
-
-
-
38
410 -451 High School Alteration It
Complete
615,540
(615,540)
62
410 -454 Larsen Bay School AHU
Complete
59,616
(59,616)
-
-
-
-
-
-
-
67
410 -457 High School Alteration III
Open
1,710,324
452,000
2,162,324
565,354
1,541,066
2,106,420
55,904
51,450
4,454
70
410 -458 Peterson Elem/Fed
Open
3,740,690
-
3,740,690
213,794
2,448,030
2,661,824
1,078,866
1,170,228
(91,362)
78
410.462 High School Library Roof
Open
-
35,000
35,000
-
-
35,000
-
35,000
80
410.464 High School Parking Lot Repair
Open
5,000
5,000
2,645
2,645
2,355
2,355
84
410 -468 Ourinlde Boiler
Complete
-
170,000
170,000
170,122
170,122
(122)
-
(122)
39
420 -501 Peterson Elementary
Open
509,860
70,140
580,000
65,968
191,853
257,821
322,179
6,967
315,212
N 41
420 -503 Landscaping - Port Lions
Open
15,000
-
15,000
1
1,179
2,185
12,815
-
12,815
88
410 -472 High School Phase IV
Open
750,000
750,000
191,556
191,556
558,444
558,444
90
430.634 High School PhaselV /Grant
Open
240,588
240,588
-
-
240,588
-
240,588
93
420 -504 Northstar Elementary
Open
8,500,000
8,500,000
415,148
415,148
8,084,852
381,705
7,703,147
94
420 -505 Ouanlde School Remodel
Open
1,200,000
1,200,000
100,569
100,569
1,099,431
53,793
1,045,638
Total Education
8,251,236
9,857,310
18,108,546
1,407,369
5,147,578
6,554,948
11,553,598
1,664,143
9,889,455
Capital Projects - Health:
1
410 -402 Hospital Site Work
Open
123,810
-
123,810
-
47,874
47,874
75,936
-
75,936
15
410 -428 Hospital Oil Spill
Open
190,200
190,200
184,831
800
185,631
4,569
4,569
30
410 -443 Hospital Hot Water Tanks
Complete
108,031
(108,031)
-
-
-
-
-
-
83
410 -467 Hospital Computer
Open
-
35,000
35,000
-
20,715
20,715
14,285
14,285
46
430 -605 Hospital Design & Development
Complete
1,000,000
1,000,000
1,000,000
-
1,000,000
-
-
50
430 -609 Hospital Equipment
Complete
50,000
(50,000)
-
4
410 -407 Hospital Studies
Complete
96,000
(96,000)
-
-
-
-
-
-
75
410 -459 Hospital Boiler Replace
Complete
200,000
(198,000)
2,000
1,951
-
1,951
49
49
92
430 -631 Hospital Repairs
Open
-
275,000
275,000
-
267,330
267,330
7,670
-
1,670
95
425 -540 Hospital Remodel
Open
9,500,000
9,500,000
46,874
46,874
9,453,126
1,808,318
7,644,808
Total Health
1,768,041
9,357,969
11,126,010
1,186,782
383,593
1,570,375
9,555,635
1,808,318
7,747,317
Capital Projects - Roads:
8
410 -418 Chiniak Subdivision
Open
389,770
-
389,770
251,900
625
252,525
137,245
-
137,245
42
430 -601 Lakeside Improvement
Complete
809,990
809,990
807,989
2,001
809,990
-
-
43
430 -602 Sharatin Road
Complete
841,320
(841,320)
-
-
74
410 -455 Street Signs
Open
20,000
20,000
966
18,705
19,671
329
Total Roads
2,061,080
(841,320)
1,219,760
1,060,855
21,331
1,082,186
137,574
137,245
continued
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
SCHEDULE OF CAPITAL PROJECTS
Y 0141 �� Yjc,r-
/
EXHIBIT D-3- continued
APPROPRIATIONS
EXPENDITURES
ENCUMBRANCES
PROJECT
TOTAL
TOTAL
UNEXPENDED
CURRENT
UNENCUMBERE
NO
PROJECT
STATUS
PRIOR
1994
APPROPRIATIONS
PRIOR
1994
EXPENDITURES
BALANCE
ENCUMBRANCES
BALANCE
Capital Projects - Other:
3
410.406 Smokey's Clean Up
Open
136,000
130,000
266,000
125,923
140,973
266,896
(896)
(896)
9
410 -419 King Crab - RFP
Complete
77,929
(77,929)
-
-
-
-
-
-
-
11
410 -423 Drainage Plan Air Photos
Open
31,050
31,050
20,412
-
20,412
10,638
10,638
12
410.425 Dumpster Pads
Open
24,500
-
24,500
11,132
225
11,357
13,143
-
13,143
14
410.427 New Computer Acquisition
Complete
641,300
641,300
641,300
641,300
-
16
410.429 New Parks
Open
80,000
30,000
110,000
33,599
691
34,290
75,710
-
75,710
17
410.430 Smokey's Fence
Open
60,000
(60,000)
-
-
-
-
-
-
-
26
410.439 Borough Offices Paint
Complete
12,131
(12,131)
27
410 -440 Borough Buildings Paint
Complete
34,428
(34,428)
-
-
-
-
-
-
59
410 -452 Cold Weather Training Review
Complete
13,100
(13,100)
-
-
-
61
410.453 KIB Apts. Fire Code Upgrade
Open
184,000
(30,000)
154,000
105,788
46,030
151,SI8
2,182
2,182
66
410.456 Selief Lane Drainage
Open
35,000
35,000
-
-
35,000
35,000
76
410 -460 KIBIRed Cross Upgrade
Open
-
70,146
70,146
-
70,328
70,328
(182)
-
(182)
48
430 -607 Salome Creek
Open
520,000
-
520,000
507,373
6,709
514,082
5,918
-
5,918
54
430.613 SeliefLanerVon Scheele Way
Open
75,000
-
75,000
-
-
-
75,000
-
75,000
56
430 -615 LEPC Grant
Complete
11,015
(11,015)
-
-
-
-
-
-
-
58
430 -616 Waste Characterization
Complete
51,000
(51,000)
63
430 -618 Emergency Medical Equipment
Complete
5,000
(5,000)
64
430 -619 CAP Hangar I
Complete
60,000
(60,000)
-
-
73
430.623 CAP Hangar It
Complete
50,000
50,000
23,587
26,413
50,000
69
430 -620 Rural Development Assistance
Complete
30,000
-
30,000
30,000
-
30,000
-
-
-
71
430 -621 Solid Waste Disposal
Open
200,000
-
200,000
2,256
194,190
196,446
3,554
6,668
(3,114)
72
430 -622 Bayside Fire Station
Open
150,000
-
150,000
-
160
160
149,840
-
149,840
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
66
59,934
59,934
86
410 -470 KIB Oil Tank Replacement
Open
100,000
100,000
66,996
66,996
33,004
33,004
87
430632 Community Support Facility
Open
350,000
350,000
-
-
350,000
350,000
89
430 -633 DHSS/Planning Grant
Open
-
40,000
40,000
-
632
632
39,368
-
39,368
Total - Capital Projects Other
2,481,453
395,543
2,876,996
1,501,370
553,413
2,054,151
822,845
6,668
816,177
Total All Capital Projects
$ 14��61,810
SS 18
S 33, S
5,156,376
S 6,105
S 11,2
S 22®69®
$ 3
$ 18,590,194
Capital Projects -Uti ifies:
60
550 -751 Project 89 -X
Open
425,249
-
425,249
36,574
150,884
187,458
237,791
-
237,791
65
550 -752 SpruceCape Water Replace
Open
65,000
-
65,000
2,978
378
3,356
61,644
-
61,644
68
550 -753 Cold Weather Training Constr.
Complete
705,000
705,000
591,327
591,327
113,673
113,673
Total Utility Projects
1,195,249
1,195,249
630,879
151,262
782,141
413,108
413,108
Total Capital/Utility Projects
$ 15 757,059
S 18,769,5
$ 34,5 $
5
S 6,257,1
S 12801
S 22,482,
S 3,479,129
S 19,0®
l J
I
L'
1
1
t
ENTERPRISE FUNDS
1
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.
L!
1
1
F,
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
NNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
Total assets S 2,428,634 S 5,528,281 S 9,154,365 S 17,111,280 S 17,475,865
76
Sanitary
Water
Sewer
Totals
Services
Utility
Utility
1994
1993
ASSETS
CURRENT ASSETS:
Equity in central treasury
S 7,801
S 250,485
S 24,326
S 282,612
S 6,813
7,801
250,485
24,326
282,612
6,813
Accounts receivable
228,248
43,522
66,135
337,905
266,311
Less allowance for doubtful receivables
-
(6,901)
(19,663)
(26,564)
(26,564)
Net receivables
228,248
36,621
46,472
311,341
239,747
Due from other funds
-
-
240,000
240,000
232,000
Total current assets
236,049
287,106
310,798
833,953
478,560
Assets whose use is limited:
Equity in central treasury
-
63,414
63,414
126,828
256
Temporary investments
250,000
250,000
500,000
1,008,812
Total restricted assets
313,414
313,414
626,828
1,009,068
Fixed assets:
Unclassified utility plant in service
2,381,371
6,012,160
10,211,886
18,605,417
17,918,635
Equipment
324,353
-
3,172
327,525
325,427
2,705,724
6,012,160
10,215,058
18,932,942
18,244,062
Less accumulated depreciation
(513,139)
(1,084,399
(1,684,905)
(3,282,443)
(2,906,252)
2,192,585
4,927,761
8,530,153
15,650,499
15,337,810
Construction, work -in- progress
-
-
-
650,427
Net fixed assets
2,192,585
4,927,761
8,530,153
15,650,499
15,988,237
Total assets S 2,428,634 S 5,528,281 S 9,154,365 S 17,111,280 S 17,475,865
76
1
EXHIBIT E -1
Accumulated amortization
Sanitary
(508,426)
(1,084,337)
(1,683,586)
(3,276,349)
(2,893,308)
Services
Utility
Utility
1994
1993
Net contributions in aid of construction
1,924,017
4,893,156
8,493,704
15,310,877
15,662,698
Retained earnings: �
Accounts payable
S 104,119 S
ti�G C
77,560 S
(137,004)
543,429
578,516
984,941
1,194,535
-
18,900
28,165
Accrued compensation
15,353
Total retained ea gs
(137,004)
543,429
578,516
984,941
1,194,535
-
11,446
Deferred revenues
-
-
-
Total fund equities �� ��
Lv
1,787,013
5,436,585
9,072,220
16,295,818
16,857,233
40,300
L 3c
240,000
-
-
240,000
241,000
Total current liabilities
360,172
91,696
82,145
534,013
618,632
Accrued landfill closure and postclosure costs
Total liabilities and fund equities S 2,428,634 S 5,528,281 S 9,154,365 S 17,111,280 S 17,475,865
77
Sanitary
Water
Sewer
Totals
Services
Utility
Utility
1994
1993
LIABILITIES AND FUND EOUITIES
CURRENT LIABIMMS:
Accounts payable
S 104,119 S
68,071 S
77,560 S
249,750 S
158,198
Customer deposits
700
18,200
-
18,900
28,165
Accrued compensation
15,353
-
15,353
18,233
Other accrued liabilities
-
-
11,446
Deferred revenues
-
-
-
-
121,290
Due to City of Kodiak
-
5,425
4,585
10,010
40,300
Due to other funds
240,000
-
-
240,000
241,000
Total current liabilities
360,172
91,696
82,145
534,013
618,632
Accrued landfill closure and postclosure costs
281,449
-
-
281,449
-
Total liabilities
641,621
91,696
82,145
815,462
618,632
FUND EQUITIES:
Contributions in aid of construction:
City of Kodiak
-
189,166
40,000
229,166
229,166
State of Alaska
2,412,453
5,482,630
9,630,603
17,525,686
17,525,686
Federal Government
-
277,135
209,554
486,689
258,106
Other
19,990
28,562
297,133
345,685
543,048
2,432,443
5,977,493
10,177,290
18,587,226
18,556,006
Total liabilities and fund equities S 2,428,634 S 5,528,281 S 9,154,365 S 17,111,280 S 17,475,865
77
t
78
KODIAK ISLAND BOROUGH
EXHIBrr E -2
ENTERPRISE FUNDS
STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND
CHANGES IN RETAINED EARNINGS
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
Sanitary
Water
Sewer
Totals
Services Utility
Utility
1994
1993
Operating revenues:
$ 386,666
Water sales
$ $
424,457
$
$ 424,457
Sewer service charges
-
-
525,345
525,345
429,760
Refuse collection
1,193,712
-
-
1,193,712
1,269,525
Sanitary services fees
434,098
-
434,098
380,195
Installation charges
852
852
2,154
Other
18,400
5,223
3,599
27,222
37,576
1,646,210
430,532
528,944
2,605,686
2,505,876
Operating expenses:
Personnel services
321,833
8,644
6,554
337,031
338,261
Waste collection
1,050,821
-
-
1,050,821
1,062,774
Purchased water and sewer treatment
-
325,853
395,888
721,741
589,513
Contracted services
48,542
-
-
48,542
82,049
Repairs and maintenance
27,434
31,057
33,111
91,602
96,770
Landfill closure and postclosure costs
28,454
-
-
28,454
-
Depreciation
81,255
109,653
197,065
387,973
375,930
Supplies
-
784
656
1,440
-
General administrative
129,451
854
22,799
153,104
93,826
t
Capital outlay
8,137
75,631
75,631
159,399
50,608
Allocated to projects
(11,418)
-
(11,418)
1,684,509
552,476
731,704
2,968,689
2,689,731
Operating loss
(38,299)
(121,944)
(202,760)
(363,003)
(183,855)
Other income:
Interest
-
11,683
11,681
23,364
16,727
Loss before cumulative effect of
t
adoption ofGASB 18
(38,299)
(110,261)
(191,079)
(339,639)
(167,128)
Cumulative effect of adoption of GASB 18
(252,995)
-
-
(252,995)
-
Net loss
(291,294)
(110,261)
(191,079)
(592,634)
(167,128)
Amortization of contributions in aid
of construction
76,805
109,645
196,590
383,040
359,101
Increase (decrease) in retained earnings
(214,489)
(616)
5,511
(209,594)
191,973
Retained earnings at beginning of year
77,485
544,045
573,005
1,194,535
1,002,562
Retained earnings at end of year
$ (137,004) $
543,429
$ 578,516
$ 984,941
$ 1,194,535
78
79
KODIAK ISLAND BOROUGH
EXHIBIT E -3
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
I
Sanitary
Water
Sewer
Totals
Services
Utility
Utility
1994
1993
Operating income (loss)
$ (38,299)
$ (121,944)
$ (202,760)
$ (363,003)
S (183,855)
Adjustments to reconcile
operating loss to net cash
provided by operating activities:
Depreciation
81,255
109,654
197,065
387,974
375,930
Provision for landfill closure and
postclosure costs
28,454
-
-
28,454
-
(Gain) loss on sale of assets
2,690
-
2,690
(2,686)
Changes in assets and liabilities:
Customers and patients receivable
(53,048)
2,636
(21,182)
(71,594)
(140,596)
Due to /from other funds
8,000
107,000
(124,000)
(9,000)
74,000
Other assets
-
-
-
-
(69,263)
Accounts payable
2,787
40,249
48,516
91,552
13,413
1
Customer deposits
(9,265)
(9,265)
4,216
Accrued expenses
2,905
Due to the City of Kodiak
(14,935)
(15,355)
(30,290)
15,820
Deferred revenue
(60,645)
(60,645)
(121,290)
121,290
Other accrued liabilities
(2,880)
(5,723)
(5,723)
(14,326)
11,446
Total adjustments
67,258
168,971
18,676
254,905
406,475
Net cash used for
operating activities
28,959
47,027
(184,084)
(108,098)
222,620
Cash flows from capital and related
financing activities:
Acquisition and construction
of capital assets
(29,679)
(15,115)
(16,105)
(60,899)
(570,589)
Proceeds from sale of equipment
7,972
7,972
12,625
Receipt of gifts restricted by
donor for capital purchases
15,115
16,105
31,220
601,154
Net cash used for capital and
related financing activities
(21,707)
-
(21,707)
43,190
Cash flows from investing activities:
Change in assets whose use
is limited:
Interest and dividends on
investments
-
11,683
11,681
23,364
18,358
Net cash provided by investing activities
-
11,683
11,681
23,364
18,358
Net change in cash and cash equivalents
7,252
58,710
(172,403)
(106,441)
284,168
'
Cash and cash equivalents
at beginning of year
549
505,189
510,143
1,015,881
731,713
Cash and cash equivalents
at end of year
$ 7,801
$ 563,899
$ 337,740
$ 909,440
$ 1,015,881
79
KODIAK ISLAND BOROUGH
EXHIBIT E-4
SANITARY SERVICES ENTERPRISE FUND
COMPARATIVE BALANCE SHEETS
JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
1994 1993
ASSETS
$ 104,119
$ 101,332
Current assets:
700
700
Equity in central treasury
$ 7,801
$ 549
Customer receivables
228,248
175,200
Total current assets
236,049
175,749
Accrued for landfill closure and postclosure costs
Fixed assets:
-
Unclassified utility plant in service
2,381,371
2,376,236
Major moveable equipment
324,353
322,255
Contributions in aid of construction:
2,705,724
2,698,491
Less accumulated depreciation
(513,139)
(443,667)
19,990
Net fixed assets
2,192,585
2,254,824
2,432,443
2,432,443
$ 2,428,634
$ 2,430,573
LIABILITIES AND FUND E
Current liabilities:
Accounts payable
$ 104,119
$ 101,332
Customer deposit
700
700
Accrued expenses
15,353
18,233
Due to general fund
240,000
232,000
Total current liabilities
360,172
352,265
Accrued for landfill closure and postclosure costs
281,449
-
641,621
352,265
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
(508,426)
(431,620)
Net contributions in aid of construction
1,924,017
2,000,823
Retained earnings, undesignated
(137,004)
77,485
Total fund equity
1,787,013
2,078,308
$ 2,428,634
$ 2,430,573
i
80
1
326,550
321,833
4,717
320,856
Waste collection
KODIAK ISLAND BOROUGH
1,050,821
(84,621)
EXHIBIT E -5
Contracted services
SANITARY SERVICES ENTERPRISE FUND
48,542
54,158
81,749
Repairs and maintenance
STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND
27,434
(529)
32,134
Landfill closure and postclosure costs
CHANGES IN RETAINED EARNINGS
28,454
(28,454)
-
1
BUDGET AND ACTUAL
81,255
2,915
68,985
General administration
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
129,451
8,084
85,601
Installation costs
23,950
1994
Variance -
-
Recycling effort
14,500
8,137
Favorable
1993
Allocated to projects
Budget
Actual
(Unfavorable)
Actual
Operating revenues:
Refuse collection $ 1,244,000 $
1,193,712
$ (50,288)
$ 1,269,525
(1,999)
Sanitary service fees 338,000
434,098
96,098
380,195
(38,299)
Other 17,400
18,400
1,000
24,991
Other income (expense):
1,599,400
1,646,210
46,810
1,674,711
Operating expenses:
Personnel services
326,550
321,833
4,717
320,856
Waste collection
966,200
1,050,821
(84,621)
1,062,774
Contracted services
102,700
48,542
54,158
81,749
Repairs and maintenance
26,905
27,434
(529)
32,134
Landfill closure and postclosure costs
-
28,454
(28,454)
-
Depreciation
84,170
81,255
2,915
68,985
General administration
137,535
129,451
8,084
85,601
Installation costs
23,950
-
23,950
-
Recycling effort
14,500
8,137
6,363
16,966
Allocated to projects
-
(11,418)
11,418
-
1,682,510
1,684,509
(1,999)
1,669,065
Operating income (loss)
(83,110)
(38,299)
44,811
5,646
Other income (expense):
Interest (expense)
-
-
-
(
Net income (loss) before cumulative
effect of adoption of GASB 18
(83,110)
(38,299)
44,811
5,644
Cumulative effect of adoption of GASB 18
-
(252,995)
(252,995)
-
Net income (loss)
$ (83,110)
(291,294)
$ (208,184)
5,644
Amortization of contributions in
aid of construction 76,805 52,866
Increase in retained earnings (214,489) 58,510
Retained earnings at beginning of year 77,485 18,975
Retained earnings at end of year $ (137,004) $ 77,485
81
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
COMPARATIVE STATEMENTS OF CASH FLOWS
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE FIGURES FOR 1993
EXHIBIT E-6
1994 1993
Operating income (loss) $ (38,299) $ 5,646
Adjustments to reconcile operating loss to net cash provided
by operating activities:
Depreciation
Provision for landfill closure and postclosure care costs
(Gain) loss on sale of assets
Changes in assets and liabilities:
Receivable from customers
Due to other funds
Accounts payable
Accrued expenses
Accrued liabilities
Total adjustments
Net cash provided by operating activities
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
Proceeds from sale of equipment
Receipt of gifts restricted by donor for capital purchases
Net cash used for capital and related financing activities
Net change in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
81,255
68,985
28,454
-
2,690
(2,686)
(53,048)
(156,198)
8,000
97,000
2,787
5,982
-
2,905
(2,880)
-
67,258
15,988
28,959
21,634
(29,679)
(55,514)
7,972
12,625
-
19,990
(21,707) (22,899)
7,252 (1,265)
549 1,814
$ 7,801 $ 549
82
KODIAK ISLAND BOROUGH EXHIBIT E -7
WATER ENTERPRISE FUND
COMPARATIVE BALANCE SHEETS
JUNE 30, 1994 WITH COMPARATIVE FIGURES FOR 1993
ASSETS
1994
1993
Current assets:
Equity in central treasury
$ 250,485
$ 655
Customer receivables
43,522
46,158
Less allowance for doubtful accounts
(6,901)
(6,901)
Net customer receivables
36,621
39,257
Due from sanitary services fund
-
116,000
Total current assets
287,106
155,912
Restricted assets:
Equity in central treasury
63,414
128
Temporary investments
250,000
504,406
Total restricted assets
313,414
504,534
Fixed assets:
Unclassified utility plant in service
6,012,160
5,671,796
Accumulated depreciation
(1,084,399)
(974,746)
Net utility plant in service
4,927,761
4,697,050
Construction, work -in- progress
-
325,250
Net fixed assets
4,927,761
5,022,300
$ 5,528,281
$ 5,682,746
LIABILMES AND FUND EQUITY
Current liabilities:
Accounts payable
$ 68,071
$ 27,822
Other accrued liabilities
-
5,723
Deferred revenues
-
60,645
Customer deposits
18,200
27,465
Due to City of Kodiak
5,425
20,360
Due to debt service fund
-
9,000
Total liabilities
91,696
151,015
Fund equity:
Contributions in aid of construction:
City of Kodiak
189,166
189,166
State of Alaska
5,482,630
5,482,630
Federal government
277,135
271,524
Other
28,562
19,058
5,977,493
5,962,378
Accumulated amortization
(1,084,337)
(974,692)
Net contributions in aid of construction
4,893,156
4,987,686
Retained earnings, undesignated
543,429
544,045
Total fund equity
5,436,585
5,531,731
$ 5,528,281
$ 5,682,746
83
KODIAK ISLAND BOROUGH EXHIBTr E-8
WATER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND
CHANGES IN RETAINED EARNINGS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTAL FOR 1993
Operating expenses:
Personnel services
Purchased water
Repairs and maintenance
Depreciation
Testing
Advertising and hearings
Insurance and bonding
Printing and binding
Office supplies and postage
Fuel
Capital outlay
Continuing education
Operating loss
Other income:
Interest income
Net loss
Amortization of contributions in
aid of construction
Increase (decrease) in retained earnings
Retained earnings at beginning of year
Retained earnings at end of year
387,000
1994
43,532
397,416
Variance -
15,000
8,644
Favorable
1993
284,000
Budget Actual
(Unfavorable)
Actual
Operating revenues:
31,057
(1,057)
30,588
Water sales
$ 387,000 $ 424,457
$ 37,457
$ 386,666
Installation charges
- 852
852
2,154
Other
- 5,223
5,223
8,596
Operating expenses:
Personnel services
Purchased water
Repairs and maintenance
Depreciation
Testing
Advertising and hearings
Insurance and bonding
Printing and binding
Office supplies and postage
Fuel
Capital outlay
Continuing education
Operating loss
Other income:
Interest income
Net loss
Amortization of contributions in
aid of construction
Increase (decrease) in retained earnings
Retained earnings at beginning of year
Retained earnings at end of year
387,000
430,532
43,532
397,416
15,000
8,644
6,356
10,869
284,000
325,853
(41,853)
283,959
30,000
31,057
(1,057)
30,588
50,500
109,653
(59,153)
109,653
8,000
-
8,000
-
500
39
461
-
-
-
572
700
234
466
351
1,300
784
516
741
_
-
-
212
-
75,631
(75,631)
10,152
2
581
1,419
2,981
392,000
552,476
(160,476)
450,078
(5,000)
(121,944)
(116,944)
(52,662)
5,000
11,683
6,683
8,364
$ -
(110,261)
$ (1I0 261)
(44,298)
109,645
109,645
(616)
65,347
544,045
478,698
$
543,429
$ 544,045
84
J
1
1
a
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
COMPARATIVE STATEMENTS OF CASH FLOWS
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTA FOR 1993
EXHIBIT E -9
1994 1993
Operating loss $ (121,944) $ (52,662)
Adjustments to reconcile operating loss to net cash provided
by operating activities:
Depreciation
109,654
109,653
Changes in assets and liabilities:
Receivable from customers
2,636
13,361
Due to /from other funds
107,000
(7,000)
Other assets
-
(34,668)
Accounts payable
40,249
4,306
Customer deposits
(9,265)
4,216
Due to City of Kodiak
(14,935)
8,120
Deferred revenue
(60,645)
60,645
Other accrued liabilities
(5,723)
5,723
Total adjustments
168,971
164,356
Net cash provided by (used for) operating activities
47,027
111,694
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
(15,115)
(255,915)
Receipt of gifts restricted by donor for capital purchases
15,115
290,582
Net cash provided by (used for) capital and
related financing activities
-
34,667
Cash flows from investing activities:
Interest and dividends paid on investments
11,683
9,177
Net cash provided by investing activities
11,683
9,177
Net change in cash and cash equivalents
58,710
155,538
Cash and cash equivalents at beginning of year
505,189
349,651
Cash and cash equivalents at end of year
$ 563,899
$ 505,189
85
t
KODIAK ISLAND BOROUGH
EXHIBIT E -10
SEWER ENTERPRISE FUND
COMPARATIVE BALANCE SHEETS
JUNE 30, 1994 WITH COMPARATIVE FIGURES FOR 1993
ASSETS
1994
1993
Current assets:
Equity in central treasury
$ 24,326
$ 5,609
Customer receivables
66,135
44,953
Less allowance for doubtful accounts
(19,663)
(19,663)
Net customer receivables
46,472
25,290
Due from Sanitary Services Fund
240,000
116,000
Total current assets
310,798
146,899
Restricted assets:
Equity in central treasury
63,414
128
Temporary investments
250,000
504,406
Total restricted assets
313,414
504,534
Fixed assets:
Unclassified utility plant in service
10,211,886
9,870,603
Machinery and equipment
3,172
3,172
Accumulated depreciation
(1,684,905)
(1,487,839)
Net utility plant in service
8,530,153
8,385,936
Construction, work -in- progress
-
325,177
Net fixed assets
8,530,153
8,711,113
$ 9,154,365
$ 9,362,546
LIABILITIES AND FUND EQUITY
Current liabilities:
Accounts payable
$ 77,560
$ 29,044
Other accrued liabilities
-
5,723
Deferred revenues
-
60,645
Due to City of Kodiak
4,585
19,940
Total liabilities
82,145
115,352
Fund equity:
Contributions in aid of construction:
City of Kodiak
40,000
40,000
State of Alaska
9,630,603
9,630,603
Federal government
209,554
219,058
Other
297,133
271,524
10,177,290
10,161,185
Accumulated amortization
(1,683,586)
(1,486,996)
Net contributions in aid of construction
8,493,704
8,674,189
Retained earnings, undesignated
578,516
573,005
Total fund equity
9,072,220
9,247,194
$ 9,154,365
$ 9,362,546
1
0
n
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES, TRANSFERS AND
CHANGES IN RETAINED EARNINGS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE TOTALS FOR 1993
EXHIBIT E -11
1994
Variance -
Favorable 1993
Budget Actual (Unfavorable) Actual
Operating revenues:
Sewer service charges $ 430,000 $ 525,345 $ 95,345 $ 429,760
Other - 3,599 3,599 3,989
430,000 528,944 98,944 433,749
Operating expenses:
Personnel services
13,000
6,554
6,446
6,536
Purchased sewer treatment
306,000
395,888
(89,888)
305,554
Contracted services
-
-
-
300
Repairs and maintenance
40,000
33,111
6,889
34,048
Depreciation
49,400
197,065
(147,665)
197,292
Operating supplies
2,000
24
1,976
109
Electric
17,000
21,087
(4,087)
16,509
Fuel
200
1,362
(1,162)
190
Advertising and hearings
100
116
(16)
-
Printing and binding
700
234
466
351
Office supplies and postage
900
632
268
622
Capital outlay
-
75,631
(75,631)
10,153
Small tools
700
-
700
(3,172)
Continuing education
-
-
-
2,096
430,000
731,704
(301,704)
570,588
Operating loss
-
(202,760)
(202,760)
(136,839)
Other income:
Interest income
-
11,681
11,681
8,365
Net loss
$ -
(191,079)
$ (191,079)
(128,474)
Amortization of contributions in
aid of construction
196,590
196,590
Increase in retained earnings
5,511
68,116
Retained earnings at beginning of year
573,005
504,889
Retained earnings at end of year
$ 578,516
$ 573,005
F -1h
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
COMPARATIVE STATEMENTS OF CASH FLOWS
YEAR ENDED JUNE 30, 1994 WITH COMPARATIVE FIGURES FOR 1993
EXHIBIT E -12
1994 1993
Operating loss $ (202,760) $ (136,839)
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
Receipt of gifts restricted by donor for capital purchases
Net cash provided by capital and
related fmancing activities
Cash flows from investing activities:
Interest and dividends on investments
Net cash provided by investing activities
Net change in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
88
197,065 197,292
(21,182)
2,241
(124,000)
(16,000)
-
(34,595)
48,516
3,125
(15,355)
7,700
(60,645)
60,645
(5,723)
5,723
18,676 226,131
(184,084) 89,292
(16,105)
(259,160)
16,105
-
-
290,582
-
31,422
11,681
9,181
11,681
9,181
(172,403)
129,895
510,143
380,248
$ 337,740
$ 510,143
KODIAK ISLAND BOROUGH EXHIBIT F -1
DATA PROCESSING INTERNAL SERVICE FUND
BALANCE SHEET
JUNE 30, 1994
1994
ASSETS
Current assets:
Equity in central treasury $ 7,786
Total current assets 7,786
Fixed assets:
Machinery and equipment 699,245
Less accumulated depreciation (134,707)
Net fixed assets 564,538
$ 572,324
LIABILITIES AND FUND EQUITY
Current liabilities:
Accounts payable $ 29,580
Total current liabilities 29,580
Fund equity: i
Contributed capital��� l� 617,382
Retained earnings, undeciguated- (74,638)
v
Total fund equity 542,744
$ 572,324
89
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, 1994
EXHIBIT F -2
1994
Operating revenues:
Charges for services:
General fund
Mental Health Center
Day Care Assistance fund
Sanitary services fund
Sale of copies
Operating expenses:
Personnel services
Contracted services
Repairs and maintenance
Depreciation
Supplies
General and administrative
Operating loss before transfers
Operating transfers in - General fund
Net loss
Retained earnings at beginning of year
Retained earnings at end of year
260,990
274,843
Variance -
365,920
Favorable
Budget
Actual
(Unfavorable)
$ 229,660
$ 237,520
$ 7,860
2,480
2,767
287
50
247
197
4,400
4,221
(179)
24,400
30,088
5,688
260,990
274,843
13,853
365,920
372,898
(6,978)
5,731
-
5,731
26,644
27,773
(1,129)
47,380
134,707
(87,327)
13,040
11,761
1,279
52,275
52,342
(67)
510,990
599,481
(88,491)
(250,000)
(324,638)
(74,638)
250,000
250,000
-
$ -
(74,638)
$ (74,638)
$ (74,638)
W
I
1
t
1
1
1
1
1
1
1
1
1
1
1
i
KODIAK ISLAND BOROUGH
DATA PROCESSING INTERNAL SERVICE FUND
COMPARATIVE STATEMENTS OF CASH FLOWS
YEAR ENDED JUNE 30, 1994
EXHMIT F -3
1994
Operating loss
$ (324,638)
Adjustments to reconcile operating loss to net cash provided by
operating activities:
Depreciation
134,707
Changes in assets and liabilities:
Accounts payable
29,580
Total adjustments
164,287
Net cash provided by (used for) operating activities
(160,351)
Cash flows from noncapital financing activities:
Operating transfers in from other funds
250,000
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
(81,863)
Net cash provided by capital and
related financing activities
(81,863)
Net change in cash and cash equivalents
7,786
Cash and cash equivalents at beginning of year
-
Cash and cash equivalents at end of year
$ 7,786
91
1
1
1
1
1
0
t
AGENCY FUNDS
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.
EXHIBrr G -1
Balance at
July 1, 1993 Additions Deductions
ASSETS
Investments (at market value)
LIABILITIES
Due to participants
Balance at
$ 953,698 $ 41,608 $ - $ 995,306
$ 953,698 $ 41,608 $ - $ 995,306
93
I KODIAK
ISLAND BOROUGH
AGENCY FUNDS - DEFERRED COMPENSATION PLAN
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
YEAR ENDED JUNE 30, 1994
EXHIBrr G -1
Balance at
July 1, 1993 Additions Deductions
ASSETS
Investments (at market value)
LIABILITIES
Due to participants
Balance at
$ 953,698 $ 41,608 $ - $ 995,306
$ 953,698 $ 41,608 $ - $ 995,306
93
1
J
I 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.
1
1
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF FIXED ASSETS BY SOURCE
it 1.
-)FEAR JUNE 30, 1994
EXHIBIT H -1
General fixed assets:
1994
Land $ 8,060,221
Buildings 67,392,318
Improvements other than buildings 845,153
Machinery and equipment 1,848,981
Construction, work -in- progress 6,348,878
$ 84,495,551
Investment in general fixed assets:
Capital Projects Funds:
General obligation bonds
$ 48,451,435
Federal grants
3,237,340
State grants
14,174,215
General Fund revenues
6,019,203
Special Revenue Fund revenues
877,715
Contributions from State of Alaska
10,476,343
Contributions from Federal Government
1,259,300
$ 84,495,551
M
1
t
KODIAK ISLAND BOROUGH EXHIBIT H -2
GENERAL FIXED ASSETS ACCOUNT GROUP
Public safety:
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
YEAR-ENDED JUNE 30, 1994
Emergency preparedness
226,303
-
100,000
-
126,303
Improvements Machinery
971,747
241,136
Other Than and
-
Total Land
Buildings Buildings Equipment
Staff agencies:
633,336
-
Borough mayor $
20,884 $ -
$ - $ - $ 20,884
Borough clerk
20,386 -
- - 20,386
Finance
68,549 -
- - 68,549
Assessing
26,984 -
- - 26,984
Community development
106,366 -
- - 106,366
Engineering/facilities
68,014 -
- - 68,014
Data services
648,882 -
- - 648,882
Resource management
17,437 -
- - 17,437
General administration
138,157 -
- - 138,157
Mental health
117,762 -
- - 117,762
125,715
Total staff agencies
1,233,421 -
- - 1,233,421
'
Public safety:
Emergency preparedness
226,303
-
100,000
-
126,303
Fire Protection Area 1
971,747
241,136
455,584
-
275,027
Women's Bay Fire District
633,336
-
425,655
-
207,681
Woodland Acres Lighting
3,014
3,014
Total public safety
1,834,400
241,136
981,239
3,014
609,011
Schools
60,887,381
-
60,887,381
-
-
Teacher housing
125,715
=
125,715
=
-
General government buildings
4,404,532
4,397,983
6,549
Building sites
403,132
403,132
-
-
-
'
Playgrounds
Other
710,239
1,131,900
-
-
1,000,000
710,239
131,900
=
67,662,899
403,132
66,411,079
842,139
6,549
Undeveloped land
7,415,953
7,415,953
-
-
-
'
78,146,673
8,060,221
67,392,318
845,153
1,848,981
' Construction, work -in- progress
Total general fixed assets
6,348,878 - 6,348,878 - -
$ 84,495,551 $ 8,060,221 $ 73,741,196 $ 845,153 $ 1,848,981
97
I
t
KODIAK ISLAND BOROUGH EXHIBIT H -3
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
At% JUNE 30, 1994
'
General Fixed
General Fixed
Assets at
Emergency preparedness
Assets at
7,060
July 1, 1993
Additions
Deductions June 30, 1994
Staff agencies:
10,512
- 971,747
'
Borough mayor $
20,884
$ -
$ - $ 20,884
Borough clerk
19,006
1,380
- 20,386
Finance
61,678
6,871
- 68,549
Assessing
25,832
1,152
- 26,984
Community development
101,838
4,528
- 106,366
Engineering/facilities
66,795
1,219
- 68,014
Data services
1,279,557
-
630,675 648,882
Resource management
7,731
9,706
- 17,437
General administration
126,003
12,154
- 138,157
Mental health
89,528
28,234
- 117,762
Total staff agencies
1,798,852
65,244
630,675 1,233,421
'
Public safety:
Emergency preparedness
219,243
7,060
- 226,303
Fire Protection Area 1
961,235
10,512
- 971,747
'
Women's Bay Fire District
627,704
5,632
- 633,336
Woodland Acres Lighting
3,014
3,014
Total public safety
1,808,182
26,218
- 1,834,400
Schools
60,717,259
170,122
- 60,887,381
Teacher housing
125,715
-
- 125,715
General government buildings
4,397,983
6,549
4,404,532
Building sites
403,132
-
- 403,132
Playgrounds
Other
710,239
1,131,900
- 710,239
1,131,900
67,486,228
176,671
- 67,662,899
Undeveloped land
7,415,953
-
- 7,415,953
78,509,215
268,133
630,675 78,146,673
Construction, work -in- progress
Total general fixed assets
1,180,894 5,167,984 - 6,348,878
$ 79,690,109 3 5,436,117 $ 630,675 $ 84,495,551
99
1
I�
�
�I
LJ
1
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.
1
1
1
1
1
' KODIAK ISLAND BOROUGH
' GENERAL LONG -TERM DEBT ACCOUNT GROUP
SCHEDULE OF LONG -TERM DEBT
P JUNE 30, 1994 WITH COMPARATIVE FIGURES FOR 1993
EXHIBrr 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 $ 4,133,559 $ 5,847,169
Accrued annual leave 233,266 225,292
'
4,366,825 6,072,461
Amount to be provided:
General obligation bonds
' Environmental Protection Agency loan
$
' General obligation bonds:
24,000,189
28,367,014
4,622,831
239,581
4,862,412
$ 10,934,873
1994 1993
23,781,441
218,748
1991 refunding
$ 2,015,000 $
3,045,000
'
1989 refunding
6,700,000
7,425,000
1993 bonds
9,215,000
-
1994 bonds
9,985,000
-
27,915,000
10,470,000
'
Environmental Protection Agency loan
218,748
239,581
Accrued annual leave
233,266
225,292
'
452,014
464,873
$ 28,367,014 $
10,934,873
'
101
1994 1993
23,781,441
218,748
t
t
KODIAK ISLAND BOROUGH
EXHIBIT J -1
KODIAK, ALASKA
SUMMARY OF BONDED DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30, 1994
Annual principal and interest requirements on General Obligation School Refunding Bonds.
Year
Principal
Interest
Total
1995
$ 2,250,000
$ 1,760,186
$ 4,010,186
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
$ 27,915,000
$ 14,292,317
$ 42,207,317
103
KODIAK ISLAND BOROUGH EXHIBIT J -2
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 semi - annually 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, Wohlforth & Flint of
Anchorage.
Bonds were issued to refund the 1986 A issue. Bonds are payable at Security Pacific National Bank (formerly Rainier)
Seattle, Washington.
104
Interest
Maturity
Rate
Principal
Interest
Total
December 1, 1994
5.60
$ 765,000
$ 57,795
$ 822,795
June 1. 1995
5.80
250,000
36,375
286,375
December 1, 1995
5.80
750,000
29,125
779,125
June 1. 1996
5.90
250,000
7,375
257,375
$ 2,015,000
$ 130,670
$ 2,145,670
104
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH EXHIBIT J -3
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 660 have been retired. Bonds number 661 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
105
Bond
Principal
Interest
Interest
Fiscal
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
August 1
February 1
Total
1995
6.65
661 -816
$ 780,000
$ 229,507
$ 203,571
$ 1,213,078
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
$ 6,700,000
$ 985,368
$ 755,861
$ 8,441,229
* Maturities on and after August 1, 1997 are callable at par on this and any interest date thereafter
105
KODIAK ISLAND BOROUGH
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.
Fiscal
Year
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Interest
5.40
5.40
5.40
5.40
5.50
5.50
5.50
5.50
Interest
Principal
Due
Due
August 15
February 15
272,355
$ 408,533
$ -
272,355
-
272,355
-
272,355
-
272,355
-
272,355
-
272,355
-
272,355
-
272,355
-
272,355
-
272,355
-
272,355
-
272,355
1,030,000
244,545
1,085,000
215,250
1,145,000
184,335
1,205,000
151,800
1,270,000
116,875
1,340,000
80,025
1,415,000
41,112
1,495,000
$ 4,710,735
$ 9,985,000
I � i
EXHIBIT J4
1
n
1�'
Interest '
Due
February 15 Total
$ 272,355
$ 680,888
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
544,710
272,355
1,574,710
244,545
1,574,090
215,250
1,575,500
184,335
1,573,670
151,800
1,573,600
116,875
1,573,750
80,025
1,575,050
41,112
1,577,224
$ 4,574,557 $ 19,270,292
106
1
1
t
1
1
1
1
1
1
KODIAK ISLAND BOROUGH EXHIBIT J -5
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
Fiscal
Year
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
Interest
7.00
6.00
5.50
5.25
3.90
4.05
4.20
4.35
4.40
4.55
4.75
4.90
Interest
Principal
Due
Due
August 15
February 15
$ 331,230
$ 455,000
204,895
625,000
186,145
655,000
168,132
695,000
149,889
730,000
135,654
760,000
120,264
790,000
103,674
825,000
85,730
860,000
66,810
900,000
46,335
940,000
24,010
980,000
$ 1,622,768
$ 9,215,000
Interest
Due
February 15
Total
$ 220,820
$ 1,007,050
204,895
1,034,790
186,145
1,027,290
168,132
1,031,264
149,889
1,029,778
135,654
1,031,308
120,264
1,030,528
103,674
1,032,348
85,730
1,031,460
66,810
1,033,620
46,335
1,032,670
24,010
1,028,020
$ 1,512,358
$ 12,350,126
[tit
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
ABESTOS REMOVAL LOAN PAYABLE
RETIREMENT SCHEDULE
EXHIBIT J-6
This debt was incurred June 24, 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
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
Principal
Interest Due
Rate* December 31
7.00
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
10,417
10,416
10,417
10,416
10,417
10,416
10,417
10,414
Principal
Due
June 30
$ 10,417
10,417
10,417
10,417
10,416
10,417
10,416
10,417
10,416
10,417
$ 114,581 $ 104,167
Interest
Due* Total
$ - $ 20,834
20,834
20,834
20,834
20,832
20,834
20,832
20,834
20,832
20,834
10,414
$ - $ 218,748
* No interest is payable until a payment due is in default; then interest, penalties and fees become due.
108
1
1
1
� I
STATISTICAL SECTION
Statistical Tables provide report users with a better historical
perspective in assessing current financial status and trends of
the Borough.
1
1
i
1
1
1
1
1
1
1
t
1
1
KODIAK ISLAND BOROUGH TABLE 1
KODIAK, ALASKA
GENERAL GOVERNMENTAL EXPENDITURES
AND OTHER USES BY FUNCTION (a)
LAST TEN FISCAL YEARS
(a) Includes general fund only.
(b) Includes operating transfers for this function
Source: Borough general ledger
109
Other
Fiscal
General
Health and
Operating
Year
Government
Sanitation
Education
Transfers
Total
1985
$ 1,677,539
$ 547,388
$ 1,608,341
$ 1,080,310
$ 4,913,578
1986
1,877,136
563,516
1,662,858
447,669
4,551,179
1987
2,089,508
579,930
1,901,130
553,373
5,123,941
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
(a) Includes general fund only.
(b) Includes operating transfers for this function
Source: Borough general ledger
109
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL REVENUES BY SOURCE
LAST TEN FISCAL YEARS
TABLE 2
(a) Includes general fund only.
(b) Includes a $481,269 loss on investment relating to the Lion Capital Group.
Source: Borough general ledger
110
Licenses,
Inter -
Fiscal
Permits
Governmental
Operating
Year
Taxes
and Fees
Revenue
Miscellaneous
Transfers
Total
1985
$ 1,868,049
$ 66,236
$ 2,365,386
$ 454,218
$ 15,000
$ 4,768,889
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
(a) Includes general fund only.
(b) Includes a $481,269 loss on investment relating to the Lion Capital Group.
Source: Borough general ledger
110
1
1
i
1
1
1
1
1
i
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
TABLE 3
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
1985 $ 1,508,003
$ 1,492,923
99.0%
$ 10,733
$ 1,503,656
99.7%
$ 19,366
1.3%
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
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
Source: Borough general ledger
111
KODIAK ISLAND BOROUGH
TABLE 4
KODIAK,
ALASKA
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Ratio , of
Total
Assessed to
REAL PROPERTY
PERSONAL PROPERTY
TOTAL
Total
Fiscal
Assessed
Estimated
Assessed
Estimated
Assessed
Estimated
Estimated Actual
Year
Value
Actual Value
Value
Actual Value
Value
Actual Value
Value
1985
$353,643,800
$385,884,500
$ 50,369,200
$186,486,200
$ 404,013,000 $
572,370,700
70.59%
1986
374,136,300
408,336,500
46,204,800
144,110,900
420,341,100
552,447,400
76.09
1987
369,860,196
398,049,400
39,003,109
199,309,200
408,863,305
597,358,600
68.45
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
(a) Reflects exemptions of boats and inventories.
Source: Borough assessment and tax records
112
1
1
1
i
1
1
1
1
1
1
1
1
1
i
1
1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS
(PER $100 OF ASSESSED VALUE)
LAST TEN FISCAL YEARS
0".31) &
b. Contributions from the Borough to the School District for the last ten years is calculated to have been as follows:
Fiscal
Assessed
Amount of
Mileage
Woodland
Value
Contribution
Equivalent
1985
394,608,581
1,377,365
3.49
KIB
City
1,524,460
Acres
ROAD SERVICES DISTRICTS
FIRE DISTRICT
Fiscal
General
of
428,764,585
Lighting
Monashka
Service
Bayview
Woman's
Service
Woman's
Year
Fund
Kodiak
Total
District
Bay
District 1
Road
Bay
District 1
Bay
1985
3.75
2.00
5.75
0.00
2.00
0.00
0.00
0.50
1.50
0.50
1986
3.75
2.00
5.75
0.00
2.00
0.25
0.00
0.10
1.50
0.90
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
1989
4.50
2.00
6.50
0.00
2.00
0.25
1.50
1.50
1.50
0.25
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
5.50
2.00
7.50
0.75
2.00
1.75
1.00
2.50
1.25
1.25
1993
5.50
2.00
7.50
0.75
2.00
1.75
1.00
2.50
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
a•
The property
tax mileage for the Kodiak Island Borough has not in the past years been broken out 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:
Fiscal
Assessed
Amount of
Mileage
Year
Value
Contribution
Equivalent
1985
394,608,581
1,377,365
3.49
1986
406,612,778
1,524,460
3.75
1987
404,859,425
2,140,149
5.29
1988
428,764,585
2,343,992
5.47
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
Source: Borough ordinance and assessment records.
113
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
TEN LARGEST PROPERTY TAXPAYERS
LAST TEN FISCAL YEARS
TABLE 6
Source: Borough tax records.
114
Percentage
Percentage
of Total
1994
Net
of Total
Assessed
Assessed
Taxes
Taxes
Value
Valuation
Levied
Levied
All Alaskan Seafoods
2.4% $
14,801,558
$
112,382
2.2%
International Seafoods
2.0
12,212,844
$
100,938
2.0
Alaska Pacific Seafoods
1.9
11,882,893
$
90,185
1.8
Washington Fish and Oyster
1.6
10,061,005
$
79,123
1.5
Western Alaska Fisheries
1.6
9,798,223
$
76,353
1.5
T U of the Northland
1.6
9,661,147
$
67,024
1.3
Sea -Land Services
1.6
9,533,850
$
78,486
1.5
Mill Bay Plaza Association
1.2
7,171,400
$
62,750
1.2
Silver Bay Logging
1.1
7,056,899
$
45,458
0.9
Brechan Enterprises
1.0
5,853,423
$
49,917
1.0
Totals
16.0 $
98,033,242
$
762,616
14.8
Source: Borough tax records.
114
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
RATIO OF NET GENERAL BONDED DEBT (a)
LAST TEN FISCAL YEARS
TABLE 7
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
1985 13,389
$ 394,608,581
$ 25,815,000
$ 7,154,308
$ 18,660,692
4.7 %
$ 1,394
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
1988 14,127
428,764,585
22,160,000
7,111,644
15,048,356
3.5
1,065
1989 15,575
436,800,264
17,550,000
5,310,721
12,239,279
2.8
786
1990 rol 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
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
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 Planning
Department based on the "Housing Unit Method."
115
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
LAST TEN FISCAL YEARS
TABLE 8
Net Debt
Outstanding
(a)
Percentage
Applicable to this
Governmental
Unit (b)
Kodiak Island
Borough
Share of
Debt (c)
Kodiak Island Borough:
General obligation bonds $ 23,781,441 100% $ 4,622,829
City of Kodiak:
General obligation bonds 365,000 57 208,000
Revenue bonds 6,340,000 57 3,613,800
Total $ 30,486,441 $ 8,444,629
(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.
116
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF LEGAL DEBT MARGIN
JUNE 30, 1994
TABLE 9
Assessed value
Plus exempt property
Total
$ 614,570,795
2,354,550,201
$ 2,969,120,996
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.
117
KODIAK ISLAND BOROUGH TABLE 10
KODIAK, ALASKA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES
FOR GENERAL BONDED DEBT TO TOTAL
GENERAL EXPENDITURES AND TRANSFERS
LAST TEN FISCAL YEARS
(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
118
Total
Ratio of
General
Debt Service
Fiscal
Interest
Total Debt
Expenditures
to General
Year
Principal (a)
and Fees
Service
and Transfers
Expenditures
1985
$ 4,210,000
$ 2,108,539
$ 6,318,539
$ 4,913,578
128.6 %
1986
5,080,000
1,727,562
6,807,562
4,551,179
149.6
1987
4,750,417
1,787,384
6,537,801
5,123,941
127.6
1988
3,785,834
1,695,468
5,481,302
5,578,069
98.3
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
(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
118
KODIAK ISLAND BOROUGH TABLE 11
KODIAK, ALASKA
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
Fiscal
School
Unemployment
Year
Population (a)
Enrollment (b)
Rate (c)
1985
13,389
2,295
9.6 %
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
Sources:
(a) 1990 per U.S. Bureau of Census; other years per Borough Planning Department,
except 1992 and 1993.
(b) Kodiak Island Borough School District.
(c) Department of Labor, Anchorage.
119
KODIAK ISLAND BOROUGH TABLE 12
KODIAK, ALASKA
SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS
YEAR ENDED JUNE 30, 1994
(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.
120
Amount of
Annual
Surety
Name of Official
Title
Salary
Bond (1)
Jerome Selby
Mayor
$ 72,000
(2)
See page vi of introductory section
Assembly members
2,400
(2)
Contracted
Attorney
-
-
Karleton Short
Finance Director /Treasurer
73,174
$ 1,000,000
Earl Smith
Fire Chief, Service Area One
69,638
-
Perry Page
Data Processing Manager
64,646
-
Donna Smith
Borough Clerk
53,060
-
Linda Freed
Director of Planning and
Community Development
75,004
-
Vivian Brumbaugh
Cashier
29,348
50,000
Patrick Carlson
Assessor /Appraiser
64,646
-
Martin White
Director of Mental Health
66,268
-
Steve Hobgood
Facilities Coordinator
63,065
-
Cheryl Bolger
Accountant
49,275
-
Kelli Veech
Accountant
45,760
-
(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.
120
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST TEN FISCAL YEARS
YEAR ENDED JUNE 30, 1994
TABLE 13
CONSTRUCTION
PROPERTY VALUE*
Residential
Commercial
Fiscal
No. of
Year
Permits
Value
1985
62
$ 10,316,833
1986
54
3,012,970
1987
35
4,256,169
1988
42
549,382
1989
22
1,174,346
1990
18
1,709,715
1991
69
3,692,371
1992
48
3,748,125
1993
55
3,359,264
1994
14
1,103,675
PROPERTY VALUE*
Residential
Deposits
No. of
in Local
Permits
Value
Banks
Commercial
Residential
Nontaxable
99
$ 7,928,241
$ 61,598,752
$116,411,447
$ 236,302,401
$ 1,053,965,717
118
10,563,802
64,420,672
115,574,577
258,311,716
1,127,834,040
134
5,313,110
70,402,810
114,409,875
252,950,321
1,134,524,305
91
4,314,003
72,068,409
123,053,031
255,417,891
1,159,131,464
131
6,421,773
93,830,000
128,202,254
266,409,021
1,177,364,559
104
8,109,662
90,221,433
115,477,806
314,539,889
1,993,871,408
152
5,706,524
90,392,243
130,469,150
323,060,260
2,002,661,025
163
9,201,613
103,679,201
134,637,371
333,203,846
2,027,200,278
143
6,218,434
94,838,546
148,714,050
350,458,405
2,271,468,957
82
3,636,645
98,970,444
148,156,300
367,798,350
2,354,550,201
*Estimated actual value of real property.
Source: Borough assessing records, City of Kodiak building department and local bankers.
121
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,
2
Laws of Alaska 1961, as amended, Form of Government - Mayor /Assembly.
2
Number of employees
1
1985
1986
1987
1988
Land area - square miles
4,900
4,900
4,900
4,900
Miles of improved street
17.3
19.5
20.3
21.5
Miles of sanitary sewers
4.2
9.6
15.5
16.0
Number of water taps
309
410
659
707
Number of sanitary sewer taps
170
327
619
666
Building permits:
Number of schools:
Permits issued
161
172
169
133
Value of buildings (thousands)
$ 17,858.0
$ 12,196.8
$ 9,570.0
$ 4,863.4
Fire protection:
Number of fire stations
2
2
2
Number of employees
1
1
1
Police protection - none
1
Recreation:
Parks - number of acres
3,414
220
222
Facilities:
Number of playgrounds
5
14
15
Number of swimming pools
1
1
1
Education:
Number of schools:
City of Kodiak Elementary
3
3
3
City of Kodiak Junior High
1
1
I
City of Kodiak High School
1
1
1
Village Schools (b)
7
7
7
Number of support personnel (c)
158
159
152
Number of teachers
157
154
148
Number of students
2,295
2,285
2,329
Number of municipal employees
46
49
53
Elections:
Number of registered voters
5,603
6,463
6,559
Number voting in last election
3,075
2,356
2,094
Percent of registered voters
46.6%
36.4%
31.9%
(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.
1989
7130(a)
21.5
16.0
748
727
153
$ 7,596.1
2
2
1
1
223
223
15
15
1
1
3
1
1
7
167
169
2,351
3
1
1
8
172
167
2,304
57
5,427
2,507
46.2%
�S:
6,150
1,459
23.7%
122
1
1
1
1
1
1
1
1
i
1
i
1
1
1
1
1
1
TABLE 14
1990
1991
1992
1993
1994
7,130
7,130
7,130
7,130
7,130
21.5
21.5
21.5
21.5
21.6
16.0
16.0
16.0
16.7
16.8
748
748
873
877
913
727
727
851
858
891
122
221
211
183
96
$ 9,819.3
$ 9,398.9
$ 12,950.0
$ 9,577.7
$ 4,740.0
2
2
2
2
2
1
1
1
1
1
223
223
223
223
223
15
15
15
15
15
1
1
1
1
1
3
3
3
3
3
1
1
1
1
1
1
1
1
1
1
8
9
9
9
9
165
175
166
171
180
167
167
164
172
191
2,328
2,398
2,614
2,632
2,802
70
75
72
67
64
6,352
6,707
6,263
6,654
7,061
2,327
1,959
1,986
2,328
2,634
37.0%
29.0%
31.8%
35.0%
37.0%
123