CAFR FY2001KODIAK ISLAND BOROUGH
Table of Contents
Page
Introductory Section
Elected Officials (Photographs)
v
Borough Officials
A
Boards and Committees
vii
Map of Kodiak Island Borough
ix
GFOA Certificate of Achievement
x
Organizational Chart
xi
Letter of Transmittal
xii
Financial Section
Independent Auditors' Report
1
General Purpose Financial Statements:
Combined Balance Sheet — All Fund Types, Account Groups and Discretely
Presented Component Unit
3
Combined Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balances — All Governmental Fund Types and
Discretely Presented Component Unit
7
Combined Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balances — Budget and Actual — General Fund,
Special Revenue Fund and Debt Service Fund
9
Combined Statement of Revenues, Expenses, Transfers and Changes in
Retained Earnings (Accumulated Deficits) — Proprietary Fund Types
11
Combined Statement of Cash Flows —
Proprietary Fund Types
12
Notes to Financial Statements
14
Additional Information
Combining, Individual Fund and Account Group Financial Statements and Schedules:
General Fund:
Balance Sheets 36
Statement of Revenues, Expenditures, Transfers and Changes
in Fund Balances — Budget and Actual 37
Schedule of Expenditures and Transfers — Budget and Actual 39
11
KODIAK ISLAND BOROUGH
Table of Contents
Special Revenue Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances (Accumulated Deficits)
Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balances — Budget and Actual:
Fire and Road Service Areas:
Fire:
Fire Protection Area No. 1
Womens Bay Fire Department
Kodiak Airport Fire District
Road:
Monashka Bay Road Service Area
Service District No. 1
Womens Bay Service Area
Bay View Road Service Area
Service Area No. 2
Mental Health Center
Coastal Management
Child Care Assistance Program
Welfare to Work Program
L.E.P.C.
Land Sales
Buildings and Grounds
Woodland Acres Street Light Service Area
Kodiak Arts Council
Facilities
Tourism Development
Kodiak Transit Authority
Debt Service Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures
Transfers and Changes in Fund Balances
Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance — Budget and Actual:
Education and Health
Other
Page
C!!
48
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
it
KODIAK ISLAND BOROUGH
Table of Contents
Page
Capital Projects Funds:
Combining Balance Sheet
75
Combining Statement of Revenues, Expenditures,
Transfers and Changes in Fund Balances
76
Schedule of Capital Projects
77
Enterprise Funds:
Combining Balance Sheet
79
Combining Statement of Revenues, Expenses, Transfers
and Changes in Retained Earnings (Accumulated Deficits)
80
Combining Statement of Cash Flows
81
Municipal Solid Waste Collection and Disposal Fund:
Balance Sheets
82
Statement of Revenues, Expenses, Transfers and Changes
in Accumulated Deficits — Budget and Actual
83
Statements of Cash Flows
84
Hospital Facilities Fund:
Balance Sheets
85
Statement of Revenues, Expenses, Transfers and Changes
in Retained Earnings — Budget and Actual
86
Statements of Cash Flows
87
911 Services Fund:
Balance Sheets
88
Statement of Revenues, Expenses, Transfers and Changes
in Retained Earnings — Budget and Actual
89
Statements of Cash Flows
90
Kodiak Fisheries Research Center Fund:
Balance Sheets
91
Statement of Revenues, Expenses, Transfers and Changes
in Retained Earnings — Budget and Actual
92
Statements of Cash Flows
93
iii
General Fixed Assets Account Group:
Schedules of Fixed Assets by Source
Schedule of General Fixed Assets by Function and Activity
Schedule of Changes in General Fixed Assets by
Function and Activity
General Long Term Debt Account Group:
Schedules of Long — Term Debt
Additional Information — Bonded Indebtedness:
Summary of Bonded Debt Service Requirements to Maturity
General Obligation Bonds, 1993 Series A
General Obligation Bonds, 1994 Series A
General Obligation Bonds, 1998 Series A
General Obligation Bonds, 2000 Series E
General Obligation Bonds, 2000 Series F
Statistical Section
' Statistical Tables:
General Governmental Expenditures and Other Uses
by Function — Last Ten Fiscal Years
General Revenues by Source — Last Ten Fiscal Years
Property Tax Levies and Collections —
Last Ten Fiscal Years
Assessed and Estimated Actual Value of Taxable
Property — Last Ten Fiscal Years
Property Tax Rates and Contributions to the School District
' Last Ten Fiscal Years
Ten Largest Property Taxpayers
Ratio of Net General Bonded Debt — Last Ten Fiscal Years
' Computation of Direct and Overlapping Debt
Computation of Legal Debt Margin
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures and Transfers — Last Ten Fiscal Years
Demographic Statistics — Last Ten Fiscal Years
Property Value, Construction and Bank Deposits —
Last Ten Fiscal Years
' Miscellaneous Statistical Data —
Last Ten Fiscal Years
Page
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
iv
INTRODUCTORY SECTION
MAYOR AND ASSEMBLY MEMBERS
Robin Heinrichs
Deputy Mayor, At Large, 2001
Gabrielle LeDoux
Mayor, 2001
Pat Branson
At Large, 2001
Tom Abell
At Large, 2002
Shawn (Tuck) Bonney
At Large, 2002
Greg Razo
At Large, 2003
Wayne Stevens
At Large, 2003
V
Darlene Turner
At Large, 2002
� I
KODIAK ISLAND BOROUGH
' KODIAK, ALASKA
BOROUGH OFFICIALS
YEAR ENDED JUNE 30, 2001
BOROUGH ASSEMBLY
' Tom Abell `02 Tuck Bonney '02
Patricia Branson '01 Robin Heinrichs (Deputy Mayor) `01
Greg Razo '03 Wayne Stevens `03
Darlene Turner `02
BOROUGH MAYOR
Gabrielle LeDoux '01
PatrickCarlson .................................................................................................... ............................... Borough Manager
Karleton G. Short ..................................................................................
............................... Finance Director/Treasurer
Bud Cassidy ..............................................................................
............................... Engineering and Facilities Director
JudithA. Nielsen, CMC ...........................................................................................
............................... Borough Clerk
Duane Dvorak ............................................................................
............................... Community Development Director
Vacant ..........................................................................................................
............................... ....................... Assessor
RobertA. Himes ..........................................................................
............................... ......................Assistant Fire Chief
Jamin, Ebell, Schmitt & Mason
...................... ............................... ........................Borough Attorney (Contracted Firm)
Betty Walters ..................................................................................
............................... Superintendent, School District
MaryMunk .......................................................................................................
............................... General Accountant
MarianRoyall ..................................................................................................
............................... Revenue Accountant
Laurie Whiddon ....................................................................................................
............................... Purchasing Agent
i
1 vi
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 2001
School Board
* Jeff Stephan
Alice Knowles
Norm Wooten
Jack McFarland
Roy Brown
Mike Woolard, USCG Rep.
Greg Razo — Assembly Rep.
Tuck Bonney — Assembly Rep.
Sheila Roberts - Staff
Rebecca Moore, Student Rep.
Betty Walters, KIBSD, ex- officio
Hospital & Health Facilities Advisory Board
* Mark Buckley
Gil Bane
Fred Bugarin
Michael Machulsky
Mary Monroe
Gretchen Saupe
Wayne Stevens
Pat Branson, Assembly Rep
Phil Cline, Administrator, ex- officio
Welby Jensen, Chief of Staff
Mental Health Center Advisory Board
Jody Burcham
Thia Falcone
David Davis
Patricia Stokley Crowe
Steven Honnold
Lorri Doyle
Cecil Ranney
Pam Foreman
Darlene Turner, Assembly Rep.
Lt. Tish Palmer, USCG Rep, ex- officio
Karen Perkins, KAMI Rep., ex- officio
Welby Jensen, MD, Providence Rep, ex- officio
Woodland Acres Street Lighting
Service Area Advisory Board
Phillip Cline
Kevin Arndt
Citizens Board of Equalization
* Jim Carmichael
Tim Hurley
Cheryl McNeil
Carrie Morton
Jim Nagan
Michael Machulsky, Alternate
Pat Carlson, KIB staff
Judi Nielson, KIB staff
Parks and Recreation Committee
Vincent Walser
Kenneth Hansen
Wayne Stevens, Assembly Rep.
Walter Stewart, P &Z Rep.
Wayne Biessel, State Rep., ex- officio
Ian Fulp, City Rep., ex- officio
Alice Knowles, School Board Rep
Duane Dvorak, KIB Rep
Rebecca Moore, Student Rep.
Building Code Board of Appeals/
(Architectural Review Board)
Scott Arndt
Gerald Cloudy
Jerrol Friend
Gregg Hacker
Charles Jerling
Jay Johnston
Tom Abell, Assembly Rep.
Bob Tucker, KIBSD Rep., ex- officio
Roy Brown, School Board Rep., ex officio
Pat Carlson, KIB Rep., ex- officio
Planning and Zoning Commission
* Clarence W. Selig
Paul Alexander
Donna Bell
Robert Lindsey
Reed Oswalt
Walter Stewart
Duane Dvorak, KIB Staff
Personnel Advisory Board
Paul Alexander
Bill King
Chris Nielsen
Susan Eoff
Jody Spivey
Lauri Whiddon, KIB staff
vii
I KODIAK ISLAND BOROUGH
' KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 2001
'
Data Processing Steering Committee
'
Pat Carlson
'
Gabrielle LeDoux
Karleton Short
Betty Walters
David Jones
f
Jim Nagen
Fire Protection Area No. 1
Advisory Board
'
* Scott Arndt
Jeff Halcomb
Eric McFarlin
Roy Aguirre
Cliff Davidson
Robert Himes, ex- officio
Monashka Bav Road Service Area
Bay View Road Service Area
'
Advisory Board
'
Dawn Black
Gale Hagemeyer
Reed Oswalt
Fred Roberts
James Schauff
Monashka Bav Road Service Area
E_ mergence Services Organization
Pat Carlson, Borough Manager
Gabrielle LeDoux, Borough Mayor
Carolyn Floyd, City Mayor
Linda Freed, City Manager, City of Kodiak
Capt. Jimmy Ng, USCG
Capt. Darrel Nelson, USCG
Sgt. Maurice Hughes, Alaska State Troopers
Service Area No. 1 Advisory Board
Advisory Board
'
* Dave Sundberg
Alayne Larsen
Darlene Turner
Jeff Hamer
Jack McFarland
E_ mergence Services Organization
Pat Carlson, Borough Manager
Gabrielle LeDoux, Borough Mayor
Carolyn Floyd, City Mayor
Linda Freed, City Manager, City of Kodiak
Capt. Jimmy Ng, USCG
Capt. Darrel Nelson, USCG
Sgt. Maurice Hughes, Alaska State Troopers
Service Area No. 1 Advisory Board
viii
Richard Walker
Womens Bav Service Area
Advisory Board
* Mike Wilchek
Fred Waltman, II
David Conrad
Linda Estes
Edward Gondek
Linda Hinson
Chris Lynch
Dale L. Rice, ex- officio
Kodiak Area Transit Svstem Committee
* Pat Branson
Wanetta Ayers
Marie Barni
Tim Blott
Steven Honnold
Don Roberts
Tom Abell, Assembly Rep., ex- officio
John Miller, USCG, ex- officio
Mary Monroe, City Rep, ex- officio
Duane Dvorak, KIB Staff
Airport Advisory Committee
* Stosh Anderson
Charles Barber
Dean Andrew
Bill King
Murphy Forner
Penny Jordahl
Bob Stanford
Wayne Stevens
Justin Vincent
John Chya, ex- officio
CDR Jim Poyer, USCG ex- officio
Borough Clerk's Office, KIB staff
Service Area No. 2 Commission
Corinne Estelle Ferre
Norman Mullan
Airport Fire Protection District Advisory Board
Michael Machulsky
Arlene Mauldin
Rene Sy
* Indicates chair
Robert Greene
Kevin Arndt
Scott Arndt
Ed Mahoney
Kaye McClain
Jennifer Spencer
f
viii
Richard Walker
Womens Bav Service Area
Advisory Board
* Mike Wilchek
Fred Waltman, II
David Conrad
Linda Estes
Edward Gondek
Linda Hinson
Chris Lynch
Dale L. Rice, ex- officio
Kodiak Area Transit Svstem Committee
* Pat Branson
Wanetta Ayers
Marie Barni
Tim Blott
Steven Honnold
Don Roberts
Tom Abell, Assembly Rep., ex- officio
John Miller, USCG, ex- officio
Mary Monroe, City Rep, ex- officio
Duane Dvorak, KIB Staff
Airport Advisory Committee
* Stosh Anderson
Charles Barber
Dean Andrew
Bill King
Murphy Forner
Penny Jordahl
Bob Stanford
Wayne Stevens
Justin Vincent
John Chya, ex- officio
CDR Jim Poyer, USCG ex- officio
Borough Clerk's Office, KIB staff
Service Area No. 2 Commission
Corinne Estelle Ferre
Norman Mullan
Airport Fire Protection District Advisory Board
Michael Machulsky
Arlene Mauldin
Rene Sy
* Indicates chair
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Kodiak Island Borough,
Alaska
' For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
' June 30, 2000
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
t standards in government accounting
and financial reporting.
SMA� "00�
M � Pitsident
' Executive Director
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KODIAK ISLAND BOROUGH
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Kodiak Island Borough
Finance Department
710 Mill Bay Road
Kodiak, Alaska 99615
Phone(907)486 -9323 Fax(907)486 -9392
October 31, 2000
To the Honorable Mayor and Members of the Assembly
Kodiak Island Borough
Kodiak, Alaska
The comprehensive annual financial report (CAFR) of the Kodiak Island Borough (Borough), Kodiak, Alaska, for the
fiscal year ended June 30, 2001, is submitted herewith.
The Borough Finance Department prepared this report. 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, 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. 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 concepts used by the Borough,
and some financial presentations. The financial section includes the report of the independent accountants, combined
financial statements, notes to combined financial statements, and the 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.
' All funds and account groups of the Kodiak Island Borough are included in this financial report, as well as the
component unit of the Borough, the Kodiak Island Borough School District.
GENERAL INFORMATION
The Kodiak Island Borough lies at the western border of the Gulf of Alaska, approximately 40 miles south of the
Kenai Peninsula. Kodiak Island is the largest island in Alaska and the second largest in the United States. About
two -thirds of the Borough lies in the Kodiak archipelago, the remaining third 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.
1 The Borough was incorporated September 30, 1963, as a Second Class Borough by Chapter 146 Sessions, Laws of
Alaska 1961, as amended. The powers granted to the Borough include area -wide powers and non area -wide powers.
Area -wide powers are health, education, assessment and collection of taxes for both the Borough and cities within the
Borough, planning and zoning, and general administrative services. Non area -wide powers include parks and
' recreation, economic development, solid waste disposal, and animal control. Service districts within the Kodiak
Island Borough provide fire protection, road maintenance and construction, and street lighting. A Mayor/Manager
form of government governs the Borough. The Mayor is elected at large while the Borough Assembly appoints the
Manager. The Assembly is composed of seven members who are elected at- large.
I I xii
f
The criteria used in determining the reporting entity are consistent with the Codification of Governmental Accounting
and Financial Reporting Standards Section 2100, 'Defining the Reporting Entity". Based on these criteria, the
various funds and account groups (being all the funds and account groups of the Borough) shown in the Table of
Contents are included in this report.
ECONOMIC CONDITION AND OUTLOOK
Economic Sectors
The major economic sectors of the Borough are commercial fishing, logging, and tourism. Being located in the Gulf
of Alaska and the North Pacific Ocean places the Kodiak Island Borough near some of the richest fishing grounds in
the world. In 1999, Kodiak was ranked third among commercial fishing ports in the United States in terms of value of
seafood landed.
The major sector of the Kodiak economy is, by far, commercial fishing, accounting for ninety-two percent of the
severance tax revenue collected and more than half of the jobs in Kodiak. Kodiak is Alaska's largest fishing port,
homeport to more than 700 commercial fishing vessels.
According to Alaska Department Fish and Game, 280,883,189 pounds of fish were landed at the Port of Kodiak in
2000 with an exvessel value of $94,474,400. In 1999, the number of pounds landed was 326,564,340 with a value of
$103,907,653.
Number of pounds caught
Exvessel value
2000
1999
Total for year
280,883,189
Total for year
326,564,340
Percent
Ranking by
Percent
Ranking by
Species
Pounds
of total
$ per pound
Species
Pounds
of total
$ per pound
pollock
102,229,713
36%
3
pollock
130,514,483
40%
17
pacific cod
64,936,708
23%
10
salmon
70,511,435
22%
8
salmon
61,800,000
22%
9
pacific cod
85,015,228
26%
11
rock sole
10,191,805
4%
7
halibut
9,911,645
3%
3
Total
239,158,226
85%
1 Total
295,952,791
91%
Exvessel value
The severance tax revenue collected for timber in fiscal year 2001 was $56,019. This decreased from fiscal year
2000's collection of $112,822. This decrease is due to the economy in Asia and Japan. These two markets are the
main customers of Alaskan timber. The domestic market is not an option because U.S. shipping laws and
transportation costs make it prohibitive to sell to the domestic market.
The tourism industry in Kodiak is based on our natural resources and is therefore seasonal, 76% of our visitors are
here during the summer months. Tourists come to our island to enjoy the beauty of the island through hunting,
hiking, camping, and fishing. They also come for the history, the culture and the wildlife that is abundant throughout
Kodiak.
xiii
1
i
2000
1999
Total for year
$ 94,474,400
Total for year
$ 103,907,653
Percent
Ranking by
Percent
Ranking by
Species
Pounds
of total
$ per pound
Species
Pounds
of total
$ per pound
pacific cod
24,030,302
25%
10
salmon
31,085,428
30%
8
halibut
23,146,998
25%
18
pacific cod
25,504,568
25%
11
salmon
21,500,000
23%
9
pollock
13,051,448
13%
17
pollock
8,720,096
9 0 /0
3
halibut
20,616,222
20%
3
Total
$ 77,397,396
82%
Total
$ 90,257,666
87%
The severance tax revenue collected for timber in fiscal year 2001 was $56,019. This decreased from fiscal year
2000's collection of $112,822. This decrease is due to the economy in Asia and Japan. These two markets are the
main customers of Alaskan timber. The domestic market is not an option because U.S. shipping laws and
transportation costs make it prohibitive to sell to the domestic market.
The tourism industry in Kodiak is based on our natural resources and is therefore seasonal, 76% of our visitors are
here during the summer months. Tourists come to our island to enjoy the beauty of the island through hunting,
hiking, camping, and fishing. They also come for the history, the culture and the wildlife that is abundant throughout
Kodiak.
xiii
1
i
f
' According to the Alaska Visitor Statistics Program, visitors to Kodiak tend to stay longer than the average visitor to
the state and are significantly more likely to be repeat visitors. These visitors tend to spend more than twice as much
as the average visitor to other regions in Alaska. Visitors to Kodiak Island Borough generated $42,578 in transient
accommodations tax revenue.
I xiv
Employment
'
The labor force in Kodiak is dominated by the fishing industry. Of the top ten employers in Kodiak for the year 2000,
five are related to the fishing industry. In terms of employment, approximately 33% of the workforce is employed in
the fish harvesting area. The U. S. Coast Guard and other government entities make up 31 %. Retail and wholesale
sector have 12 %, the service sector has 15 %, with the remaining 9% in construction, transportation, communication,
utilities, financial services, insurance and real estate.
Employment varies throughout the year with July, August, and September being the peak months due to the increased
l i
activity in the canneries and then declines in November and December when fishing quotas are reached. The
unemployment rate as of June 30, 2001 was 9.7 percent compared to 12.3 percent in 2000 and 5.4 percent in 1999.
Throughout fiscal year 2001, the unemployment rate has fluctuated from 3.9% to 16.5 %, with an average of 9.48 %.
'
Population
The estimated population of the Kodiak Island Borough for fiscal year 2001 is 14,028. Kodiak Island Borough ranks
eighth in population when compared to other boroughs and unified municipalities throughout the state. The City of
Kodiak is the seventh largest city in the state of Alaska.
Kodiak is the home to the United States Coast Guard's largest facility. Among the various Coast Guard operating and
support commands, there are approximately 1,100 military and civilian personnel and 1,600 military dependents.
MAJOR INITIATIVES
In preparing the fiscal year 2001 budget, the Kodiak Island Borough identified several major projects to be addressed
during the year. All major projects are listed in Exhibit D -3 of the comprehensive annual financial report.
I
The most significant project undertaken in fiscal year 2001 was the design and repair of the Kodiak High School roof.
The Borough completed the roof design, hired a project manager and contractor and began the repair of the roof. At
year -end, the project was approximately 25% complete. The target date for completion is December 2001.
Capital projects either started or expanded in fiscal year 2001 totaled $1,296,773.
ACTIVITY SERVICE EFFORTS AND ACCOMPLISHMENTS
The Borough provides a variety of services including education, health, solid waste collection and disposal, planning
and zoning, public improvements, and general administration. The Borough provides for education through the
Kodiak Island Borough chool District a component unit of the Kodiak Island Borough. In order to
Sh � P � provide
P
adequate health care, the Borough has leased the Hospital and Care Center to Providence of Alaska Medical Center.
Providence of Alaska also took over operating the Mental Health Center from the Borough January 2, 1998.
The Borough provides for solid waste collection and disposal by contracting collection services through an outside
source while operating the landfill.
The Borough has four road service areas, three fire protection areas, and one street light service area.
The Borough contracts with the City of Kodiak for building inspection services for building outside the city limits. In
'
fiscal year 2001, 231 building permits were issued with a value of $12,881,477. The number of permits increased by
twenty -one over 2000, along with the value increasing by $1,075,144.
I xiv
FINANCIAL INFORMATION
DISCUSSION OF CONTROLS
Management is extremely aware of the importance of a strong internal control structure. Although present controls
are considered to be highly satisfactory and adequate, they continue to be scrutinized periodically for enhancements.
Internal Controls
The Borough's accounting system depends upon a strong system of internal controls. The Borough Finance
Department focuses on all aspects of internal control. The Borough Finance Department wants to ensure the
safeguarding of Borough assets and the delivery of reliable and accurate financial information. Duties are segregated
as much as possible in a small office, which limits individual control over any one area. Internal control policies are
reviewed at least annually and documented to reflect any procedural changes that are deemed necessary. Cross
training and segregation of duties are considered valuable in the internal control structure.
Budgetary Controls
The Borough uses the modified accrual basis of accounting 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 additional appropriation
approximately halfway through the fiscal year. Budgetary control is also maintained through the use of an
encumbrance system. As purchase orders, contracts, and other obligations are issued, corresponding amounts of
appropriations are reserved by the use of encumbrances so that appropriations will not be overspent.
A public hearing and the adoption of a budget ordinance appropriates all new funds. The Assembly makes
appropriation transfers between funds and/or departments only after the adoption of an ordinance. Borough staff may
execute transfers between line items within a department.
GENERAL GOVERNMENT FUNCTIONS
The following charts are a ten year comparison of General Fund revenues for the fiscal years ended June 30, 1992 and
June 30, 2001. These charts include General Fund revenues only.
Fiscal Year 1992
Investment
Licei
Permits, F
Oth
39
Intergovernmental
35%
Property Taxes
50%
Fiscal Year 2001
Investment
Income
5%
Licenses,
Permits, Fees and
Other
1%
vemmental
19%
Severance
Taxes
8% Property Taxes
67%
xv
Severance Taxes
7%
' I The following schedule summarizes changes from the prior year for General Fund revenues:
Revenue Sources
Property Taxes
Severance Taxes
Intergovernmental
Licenses, Permits, Fees and Other
Investment Income
Total
* This percentage is the change in overall totals, not the column.
Property tax is the largest source of revenue for the General Fund of the Kodiak Island Borough. The increase in
property tax is solely based on appraised value; there was no mill rate increase for fiscal year 2001.
Severance tax revenues decreased from $1,175,650 in fiscal year 2000 to $854,233 in fiscal year 2001. The tax
' related to the fishing industry decreased by $260,144 and the severance tax on timber decreased by $17,131. The
decrease in the fish tax is due to the limitations on fishing near Stellar Sea Lions habitat and lower prices being paid
for fish.
The increase in intergovernmental revenue is due to payments from federal and state revenue sharing sources. The
most significant change was the amount received for the National Wildlife Refuge revenue. In fiscal year 2000 we
received $211,782 and in fiscal year 2001 we received $399,160; an increase of $187,378.
The Borough had more investment income in fiscal year 2001 due to better returns on investments and more cash to
available for investing.
The following charts are a ten year comparison of General Fund expenditures and operating transfers by function for
the years ending June 30, 1992 and June 30, 2001:
Year End June 30, 1992 Year End June 30, 2001
6%
Culture and
Recreation
3% /
General
Government
31%
Community
Development
4%
Cuhure and General
Recreation Government
1% 26%
Education
49%
Public Safety
I 2%
Health and
Sanitation
9%
Public Safety
1%
Health and
Sanitation
Education 5%
63%
xvl
Community
Increase (Decrease)
2001
2000
Amount
Percent
$ 7,280,951
$ 6,623,808
$ 657,143
9.9%
854,233
1,175,650
(321,417)
(27.3 %)
2,135,483
1,770,040
365,443
20.6%
140,074
128,864
11,210
8.7%
583,633
358,352
225,281
62.9%
$ 10,994,374
$ 10,056,714
$ 937,660
9.3%
Year End June 30, 1992 Year End June 30, 2001
6%
Culture and
Recreation
3% /
General
Government
31%
Community
Development
4%
Cuhure and General
Recreation Government
1% 26%
Education
49%
Public Safety
I 2%
Health and
Sanitation
9%
Public Safety
1%
Health and
Sanitation
Education 5%
63%
xvl
Community
Changes in expenditures and operating transfers out for major General Fund functions of the Borough over the F
preceding year are shown in the following tabulation:
* This percentage is the change in overall totals, not the column.
The decrease in public safety is due to the Borough no longer funding ambulance service paid to the City of Kodiak.
A decrease in operating transfers is the primary reason for the decrease in health and sanitation. Education was
increased due to the increased appropriation to the School District. Reductions in contributions to non -profit agencies '
resulted in the decrease in culture and recreation. Community Development increased due to an increase in salary
expense, recruitment and relocation expense, and lower allocations to other funds.
It is the goal of the Kodiak Island Borough to maintain a General Fund balance of at least 1 to 2 million dollars. The
fund balance as of June 30, 2001 was $1,419,678. This is $277,163 more than the June 30, 2000 balance of
$1,142,515. The following table reflects the fund balance of the General Fund at the close of business for the past ten
fiscal years:
General Fund Balance
Last ten fiscal years
i
XV11
1992 1993 1994 1995 1998 1997 1998 1999 2000 2001
Increase (Decrease)
,
2001
2000
Amount
Percent
General Government
$ 2,783,159
$ 2,122,138
$ 661,021
31.1%
r
Public Safety
55,002
119,805
(64,803)
(54.1 %)
'
Health and Sanitation
542,072
613,873
(71,801)
(11.7 %)
Education
6,824,276
6,500,341
323,935
5.0%
Culture and Recreation
153,481
166,630
(13,149)
(7.9 %)
'
Community Development
377,375
304,701
72,674
23.9%
Total
$ 10,735,365
$ 9,827,488
$ 907,877
9.2% *
,
* This percentage is the change in overall totals, not the column.
The decrease in public safety is due to the Borough no longer funding ambulance service paid to the City of Kodiak.
A decrease in operating transfers is the primary reason for the decrease in health and sanitation. Education was
increased due to the increased appropriation to the School District. Reductions in contributions to non -profit agencies '
resulted in the decrease in culture and recreation. Community Development increased due to an increase in salary
expense, recruitment and relocation expense, and lower allocations to other funds.
It is the goal of the Kodiak Island Borough to maintain a General Fund balance of at least 1 to 2 million dollars. The
fund balance as of June 30, 2001 was $1,419,678. This is $277,163 more than the June 30, 2000 balance of
$1,142,515. The following table reflects the fund balance of the General Fund at the close of business for the past ten
fiscal years:
General Fund Balance
Last ten fiscal years
i
XV11
1992 1993 1994 1995 1998 1997 1998 1999 2000 2001
� I
PROPRIETARY OPERATIONS
In fiscal year 2001, the Municipal Solid Waste Fund had operating income of $8,444, compared to last year's of
$68,700. The net income for fiscal year 2001 was $89,165; this is an increase of $21,420 over last year. The main
factor for the increase is the intergovernmental revenue that was received for the landfill expansion project.
On April 22, 1997 the Kodiak Island Borough leased the Kodiak Island Hospital to Providence Health System in
' Alaska. The Hospital Facilities Fund accounts for the bonded debt related to the construction of the hospital addition.
The main source of revenue is the monthly lease payment of $60,000. The hospital also receives a portion of state
revenue sharing. Their portion for fiscal year 2001 was $39,907, a $4,976 reduction from fiscal year 2000. Their
' lease stipulates that profits will be shared with the Borough on an equal basis, with the maximum amount in one year
of $600,000, but Providence will absorb losses. The Borough received $372,732 for gain on operations, a $155,070
increase from fiscal year 2000.
t The 911 Service Fund was established to collect money in order to pay for installation and maintenance on an
automatic call out system for emergency services. The Borough receives seventy -five cents per phone line that is
billed within the vicinity of the City of Kodiak. The billing is done by the phone company and then remitted to the
Borough. The Borough, in turn, sends the money to the City of Kodiak for the 911 - service equipment that has been
installed at the police station. This system allows for location of the caller, even if the caller is unable to speak.
The Kodiak Fisheries Research Center (KFRC) became operational in October 1998. The Center is home to the
' National Oceanic and Atmospheric Administration, (NOAA), Alaska Department of Fish and Game, and the
University of Alaska — Fairbanks. The source of income for KFRC is lease payments. The major contributor in rent
is NOAA. The center was developed as a multi- agency research facility committed to the preservation of the North
Pacific marine ecosystem and resources. The Borough maintains the building, pays all expenses, and manages the
' interpretive center in the building as a public display area.
FIDUCIARY OPERATIONS
' The Kodiak Island Borough handles all fiduciary activity regarding the collection of Public Employees Retirement
System (PERS) payments, property tax collected on behalf of the City of Kodiak, and payroll taxes, with the same
care and due diligence that the Borough exercises with any of its funds. All monies due are withheld, collected,
' accounted for, and remitted promptly.
Periodically, the State of Alaska informs each participating entity of the PERS of changes in employee and employer
contribution rates. Amounts are budgeted, withheld, and remitted accordingly. Annually the State of Alaska PERS
revises the actuarial assumptions. 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 property tax collections for all governmental entities within the Kodiak Island Borough.
For service areas within the Borough, the revenue is recog in that areas articular fund. Pr
I' g � ' P taxes
collected for the City of Kodiak are remitted monthly for the amount collected the previous month.
All other fiduciary collection activity (i.e., federal withholding, FICA, insurance, pension fund, etc.) is accounted for
and promptly remitted to the agency involved.
DEBT ADMINISTRATION
Summary of debt principal outstanding at fiscal year end was:
xviii
General Obligation, 1993
$4,505,000
'
General Obligation, 1994
1,030,000
General Obligation, 1998
9,495,000
'
General Obligation, 2000 E
General Obligation, 2000 F
1,485,000
1,175,000
State of Alaska, ADEC Loans
105,272
Environmental Protection Agency Loan
72,919
'
Total
$17,868,191
xviii
I !
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 an eight million - dollar revenue bond authorized but not issued. Currently it is shown as an
interfund receivable /payable between the Kodiak Fisheries Research Center and the Facilities Fund. All of the
Borough's bonds are rated at the highest level attainable.
As of June 30, 2001, net per capita bonded debt is $1,236. For comparison purposes, the following is the net per
capita 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
$400
$200
$0
CASH MANAGEMENT
Effective cash management is essential to the long -term stability and profitability of any organization. Day -to -day
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 Finance Director is the central treasurer for all Borough funds. This includes both the Borough and
School District. The Borough uses a cash pool concept in which all funds are self - balancing. Each fund is a unique
entity and has its own cash account, which, on occasion, may show a "book overdraft" while others have an excess of
cash. In this manner, the Borough is able to fully invest all idle funds without creating a "bank overdraft ".
Deposits are made daily and all idle funds are invested on the following day. The Borough recognizes that there is
frequently some exposure to uninsured and uncollateralized deposits. To offset this exposure the Borough requires its
X1X
}
i
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
Moody's
Investors
Standard Fitch's
Service
and Poors
General Obligation, School Refunding, 1989
Aaa
AAA
General Obligation, 1993
Aaa
AAA
General Obligation, 1994
Aaa
AAA
General Obligation, 1998
AAA AAA
General Obligation, 2000 E
Aaa
AAA
General Obligation, 2000 F
Aaa
AAA
As of June 30, 2001, net per capita bonded debt is $1,236. For comparison purposes, the following is the net per
capita 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
$400
$200
$0
CASH MANAGEMENT
Effective cash management is essential to the long -term stability and profitability of any organization. Day -to -day
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 Finance Director is the central treasurer for all Borough funds. This includes both the Borough and
School District. The Borough uses a cash pool concept in which all funds are self - balancing. Each fund is a unique
entity and has its own cash account, which, on occasion, may show a "book overdraft" while others have an excess of
cash. In this manner, the Borough is able to fully invest all idle funds without creating a "bank overdraft ".
Deposits are made daily and all idle funds are invested on the following day. The Borough recognizes that there is
frequently some exposure to uninsured and uncollateralized deposits. To offset this exposure the Borough requires its
X1X
}
i
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
t local servicing bank to purchase investments as collateral to cover the cash amount in the "sweep" account. The
minimum amount of collateral required is $4,000,000. This collateral is purchased in the Borough's name and the
' collateral must increase if the cash balance exceeds the $4,000,000. A local servicing bank "sweeps" the total
balances to another account on a daily basis. At this time $4,000,000 of Kodiak Island Borough Ambac insured
bonds collateralize this account. A third -party bank, Bankers Trust Company, holds this collateral.
' All new investments are purchased on a delivery versus payment system. This means that when the Borough
purchases a new instrument, such as a Treasury bill or an agency note, the servicing bank pays for the instrument
when it is delivered. After delivery, the servicing bank will hold and account for all investments. Management feels
' that this is the safest way of holding the Borough's investments.
The Borough's 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 the Borough invest only in high -grade
' securities that are fully collateralized and/or insured.
During the past year, the investments of the Borough have fluctuated between $22.7 and $35.6 million. Interest rates
at the beginning of the fiscal year started at 5.85 percent to 7.23 percent. At year -end, investments were earning from
' 3.53 percent to 6.78 percent for an average yield of 5.16 percent. The year ended with investment earnings for all
funds in the amount of $1,986,031.
t RISK MANAGEMENT
"Risk management" is a term used to describe those activities practiced by managers to minimize or control exposure
to potential losses. Mention the word "risk management" and most people think of insurance, which is the traditional
' method used to manage risks. Insurance provides financial protection against accidental loss but cannot prevent
losses. However, by managing exposure, we can prevent unexpected losses.
The Kodiak Island Borough has increased risk management activities as a result of several factors, one being the
j' increased state and federal regulations related to this issue. We have a Safety Committee that meets monthly and
discusses the accident prevention program and develops loss prevention policies in an effort to manage risk exposure.
Several areas of concern are now addressed including hazardous material management, bloodborne pathogens, sexual
harassment awareness, accident prevention, ergonomics, and evaluation of work environments to prevent cumulative
trauma. The Borough presents training to employees to address these and other issues as part of the accident
prevention program, an integral component of an effective risk management program.
I' OTHER INFORMATION
INDEPENDENT AUDIT
I
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 auditors' opinion has
been included in this report.
The Alaska Statutes require single audits and define these requirements in 2 AAC 45.010.
I' The Borough also complies with the "Federal Single Audit Act of 1984" as amended b the "Single Audit Act
g P g Y g
Amendments of 1996 ", and the "Drug -Free Workplace Act of 1988."
' AWARDS
Government Finance Officers Association Certificate Of Achievement For Excellence In Financial Reporting
' The Government Finance Officers Association of the United States and Canada 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, 2000. 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
efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such a
report must satisfy both generally accepted accounting principles and applicable legal requirements.
I xx
A Certificate of Achievement is valid for a period of one year only. The Borough has received a Certificate of
Achievement for the last thirteen consecutive years (fiscal years ended 1988 - 2000). We believe our current report
continues to conform to the Certificate of Achievement Program requirements, and we are submitting it to the
Government Finance Officers Association.
Government Finance Officers Association Distinguished Budget Presentation Award
The Government Finance Officers Association of the United States and Canada (GFOA) has presented a
Distinguished Budget Presentation Award to the Kodiak Island Borough for its annual budget for the last eleven
consecutive years (fiscal years beginning July 1, 1990 through July 1, 2000). The Borough has submitted its annual
budget for the fiscal year beginning July 1, 2001, and believes that it will also meet the criteria for this award.
In order to receive this award, a government unit must publish a budget document that meets program criteria as a
policy document, as an operating guide, as a financial plan, and as a communications medium.
ACKNOWLEDGEMENTS
I wish to express my appreciation to all the members of the Finance Department for their efficient and dedicated
service during the past year. I wish to thank the Mayor's 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,
� � .4. 4ir V� -
KARLETON G. SHORT
DIRECTOR OF FINANCE
xxt
FINANCIAL SECTION
1
Fj
1
1
1
J
GENERAL PURPOSE FINANCIAL STATEMENTS
The General Purpose Financial Statements include the basic
financial statements and notes to the financial statements which
are essential to the fair presentation of financial position and
results of operations and the cash flow of proprietary funds and
similar trust funds.
�1
L�
1
[J
I
f
PA T__
701 West Eighth Avenue
Suite 600
Anchorage, AK 99501
Independent Auditors' Report
The Honorable Mayor and Members of the Assembly
Kodiak Island Borough:
We have audited the accompanying general - purpose financial statements of Kodiak Island Borough (the
Borough), Alaska, as of June 30, 2001, and for the year then ended, listed in the foregoing table of
contents. These general - purpose financial statements are the responsibility of the management of Kodiak
Island Borough, Alaska. Our responsibility is to express an opinion on these general - purpose financial
statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the general - purpose financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the general - purpose 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, the general - purpose financial statements referred to above present fairly, in all material
respects, the financial position of the Kodiak Island Borough, Alaska, as of June 30, 2001, and the results
of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with
accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated
October 19, 2001, on our consideration of Kodiak Island Borough's internal control over financial
reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants.
That report is an integral part of an audit performed in accordance with Government Auditing Standards
and should be read in conjunction with this report in considering the results of our audit.
The 2001 combining and individual fund and account group financial statements and schedules listed in
the table of contents, are presented for the purpose of additional analysis and are not a required part of the
general - purpose financial statements of Kodiak Island Borough, Alaska. 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 a whole.
Eggs KPMG LLP KPMG LLP, a U.S. limited liability partnership, Is
a member of KPMG International, a Swiss association.
KPMG
The Honorable Mayor and Members of the Assembly
Kodiak Island Borough
The statistical data on pages 104 through 117 are presented for the purpose of additional analysis and is
not a required part of the general - purpose financial statements of the Kodiak Island Borough, Alaska. Such
additional information has not been subjected to the auditing procedures applied in our audit of the
general - purpose financial statements and, accordingly, we express no opinion on it.
K`PMG u-P
October 19, 2001
'l
KODIAK ISLAND BOROUGH
Combined Balance Sheet – All Fund Types, Account Groups
and Discretely Presented Component Unit
June 30, 2001 (with comparative totals for 2000)
Assets and Other Debits
Assets:
Equity in central treasury
Temporary investments
Other cash and cash equivalents
Receivables:
Accounts and other receivables, net
State of Alaska
Federal Government
Property taxes, net of
allowance of $15,828
Land sales contracts, due
within one year
Due from other funds
Due from primary government
Inventories
Prepaid expenses/expenditures
Long -term interfund advances
Land sales contracts receivable, due
after one year
Fixed assets, net of accumulated
depreciation where applicable
Construction work -in- progress
Other Debits:
Amount to be provided for claims
and judgements
Amount available in debt service fund
Amount to be provided for retirement
of general long -term debt
Total
See accompanying notes to financial statements.
Governmental Fund Tvnes
$ 6,093,183 $ 23,874,975 $ 471,041 $ 3,455,196
3
Special
Debt
Capital
General
Revenue
Service
Projects
$ 7,989
$ 1,399,733 $
458,925
$ 245,313
4,039,690
14,358,012
12,116
2,727,987
332,891
182,060
—
—
45,890
128,391
—
268,249
—
36,819
—
—
331,695
—
—
—
—
42,048
—
—
1,335,028
357,912
—
213,647
—
7,370,000
—
—
$ 6,093,183 $ 23,874,975 $ 471,041 $ 3,455,196
3
Exhibit 1
(Continued)
4
Total
Proprietary
primary
Component
Totals
Fund Type
Account Groups
government
unit
reporting entity
General
General long-
(memorandum
School
(memorandum only)
Enterprise
fixed assets
term debt
only)
District
2001
2000
$ 321,180 $
-
$ -
$ 2,433,140 $
-
$ 2,433,140
$ 1,637,748
3,075,742
-
-
24,213,547
-
24,213,547
14,946,489
-
-
-
-
435,974
435,974
389,608
246,396
-
-
761,347
25,590
786,937
1,041,808
100,000
-
-
542,530
613,087
1,155,617
1,238,657
-
-
-
36,819
154,609
191,428
214,501
-
-
-
331,695
-
331,695
284,871
-
-
-
42,048
-
42,048
58,364
-
-
-
1,906,587
745,386
2,651,973
3,711,029
-
-
-
-
4,017,798
4,017,798
2,463,504
277,007
-
-
277,007
264,073
541,080
501,217
-
-
-
-
-
-
8,164
-
-
-
7,370,000
-
7,370,000
7,595,000
-
-
-
-
-
-
84,151
46,865,148
101,321,150
-
148,186,298
4,122,886
152,309,184
152,214,524
-
-
-
-
-
-
1,941,032
-
-
1,350,000
1,350,000
6,500
1,356,500
1,396,500
-
-
458,925
458,925
-
458,925
404,657
-
-
17,523,249
17,523,249
-
17,523,249
16,951,370
$ 50,885,473 $
101,321,150
$ 19,332,174
$ 205,433,192 $
10,385,903
$ 215,819,095
$ 207,083,194
(Continued)
4
1
1�
KODIAK ISLAND BOROUGH
Combined Balance Sheet – All Fund Types, Account Groups
and Discretely Presented Component Unit
June 30, 2001 (with comparative totals for 2000)
C
i
Governmental Fund Types
Liabilities, Fund Equities
Special
Debt
Capital
and Other Credits
General
Revenue
Service
Projects
,
Liabilities:
3
Accounts payable $
108,598
$ 119,651 $
12,116 $
407,107
Retainages payable
—
—
—
48,181
i
Accrued compensation, annual leave,
, 5
payroll taxes and related benefits
41,199
283
Other accrued liabilities
270,243
—
—
=
_
—
Customer deposits
525
Deferred revenues
—
42,048
—
—
Claims and judgements
—
—
—
—
Due to City of Kodiak
22,022
—
—
—
Due to component units
4,017,798
—
—
—
Due to other funds
213,645
338,188
—
152,914
'
Due to student organizations
—
—
—
—
Current portion of note payable
—
—
—
—
Current portion of capital lease obligations
—
—
—
—
Accrual for landfill closure
'
and postclosure costs
—
—
—
—
Note payable
—
—
—
—
Capital lease obligations
—
—
—
—
Long -term interfund borrowings
--
—
—
—
General obligation bonds payable
—
—
—
—
Environmental Protection Agency loan
—
—
—
—
Alaska Department of Environmental
Conservation loans
—
—
'
e
Total liabilities
4,673,505
500,695
12,116
608,202
Fund equities and other credits:
Contributions in aid of construction, net
—
—
—
—
'
f
Investment in general fixed assets
—
—
—
—
i
Contributed capital
—
—
—
—
Retained earnings (accumulated deficit)
—
—
—
—
6 1
Fund balances:
'
Reserved:
Encumbrances
—
—
—
2,137,930
Fuel inventory
—
—
—
—
Long -term interfund borrowings
—
7,370,000
—
—
,
Unreserved:
Designated for subsequent
year expenditures
—
178,800
—
—
Undesignated
1,419,678
15,825,480
458,925
709,064
' s
Total fund equities and other credits
1,419,678
23,374,280
458,925
2,846,994
Total $
6,093,183
$ 23,874,975 $
471,041 $
3,455,196
t
See accompanying notes to financial statements.
5
'
i
Exhibit 1
(Continued)
1�
1 G
Total
1
Proprietary
primary
Component
Totals
Fund Type
Account Groups
government
unit
reporting entity
General
General long-
(memorandum
School
(memorandum only)
'
Enterprise
fixed assets
term debt
only)
District
2001
2000
$ 184,806 $
-
$ -
$ 832,278 $
232,082
$ 1,064,360
$ 681,508
'
_
-
48,181
-
48,181
82,457
_
113,983
155,465
2,365,807
2,521,272
2,420,941
68,208
-
-
338,451
-
338,451
51,262
I
=
_
=
525
42,048
-
152,991
525
195,039
650
596,609
1,350,000
1,350,000
46,500
1,396,500
1,436,500
-
-
-
22,022
-
22,022
21,879
'
1,201,840
_
=
4,017,798
1,906,587
-
745,386
4,017,798
2,651,973
2,528,819
3,711,027
338,868
338,868
307,731
629,656
-
-
629,656
-
629,656
592,013
'
277,720
277,720
=
277,720
261,984
2,122,151
-
-
2,122,151
2,122,151
2,066,758
1,901,494
-
-
1,901,494
-
1,901,494
2,231,467
797,306
-
797,306
-
797,306
1,074,993
7,370,000
=
7,370,000
7,370,000
7,595,000
17,690,000
17,690,000
17,690,000
17,025,000
-
-
72,919
72,919
-
72,919
93,749
-
-
105,272
105,272
-
105,272
105,272
14,553,181
-
19,332,174
39,679,873
3,881,634
43,561,507
42,885,619
30,340,822
-
-
30,340,822
-
30,340,822
31,389,118
101,321,150
101,321,150
4,122,886
105,444,036
105,458,894
5,382,203
-
-
5,382,203
-
5,382,203
5,382,203
609,267
-
-
609,267
-
609,267
321,418
-
-
-
2,137,930
165,711
2,303,641
188,708
-
226,629
226,629
208,449
7,370,000
7,370,000
7,595,000
_
_
=
178,800
807,154
985,954
423,550
'
18,413,147
1,181,889
19,595,036
13,230,235
36,332,292
101,321,150
-
165,753,319
6,504,269
172,257,588
164,197,575
'
$ 50,885,473 $
101,321,150
$ 19,332,174
$ 205,433,192 $
10,385,903
$ 215,819,095
$ 207,083,194
1�
1 G
KODIAK ISLAND BOROUGH
Combined Statement of Revenues,
Expenditures, Transfers and Changes in Fund Balances
all Government Fund Types and Discretely Presented Component Unit
Year Ended June 30, 2001 (with comparative totals for 2000)
Special
Debt
Capital
General
Revenue
Service
Projects
Revenues:
Property taxes
$ 7,280,951 $
578,661 $
- $
-
Intergovemmental:
State sources
1,262,555
666,878
-
388,741
'
Federalsources
872,928
40,792
-
-
Land sale proceeds
-
4,112,128
-
-
Severance taxes
854,233
-
-
-
licenses, permits, fees and other local revenues
140,074
132,382
-
-
,
Investments and property
583,633
1,211,456
24,718
89,551
In -kind services
-
-
Other
-
12,849
-
Total revenues
10,994,374
6,755,146
24,718
478,292
Expenditures:
Current:
Borough assembly
137,000
-
-
-
Borough manager
159,275
-
-
-
Borough clerk
263,191
-
-
-
'
Borough attorney
435,337
-
-
-
Finance department
389,583
-
-
-
Assessing department
288,958
-
-
-
EngineeringtFacilities department
85,310
-
-
-
Community development department
377,374
66,357
-
-
Building official
129,908
-
-
-
Economic development
38,000
-
-
-
General and administration
Emergency preparedness
239,408
3,002
1,216,323
-
19,792
-
-
-
E
School district support
594,246
-
-
-
Health and sanitation department
223,422
463,388
-
-
Education, culture and recreation
148,351
-
-
-
Management information systems
293,891
Capital outlay:
Schools
-
-
-
671,985
Service district maintenance
-
14,306
-
-
General
-
-
-
624,788
Debt service:
Principal
-
-
2,015,834
-
'
Interest
-
-
745,493
-
Fiscal agent fees
-
-
-
-
Total expenditures
3,806,256
1,760,374
2,781,119
1,296,773
g.
Excess of revenue over (under) expenditures
7,188,118
4,994,772
(2,756,401)
(818,481)
Other financing (uses) sources:
Operating transfers in from component unit
-
-
1,634,092
-
Operating transfers in from other funds
18,154
657,309
1,195,585
301,746
Operating transfers in from primary government
-
-
-
-
Operating transfers out to component unit
(5,966,440)
-
-
Operating transfers out to other funds
(639,370)
(798,061)
(19,008)
-
Operating transfers out to primary government
-
-
-
-
Proceeds from issuance of long -term debt
-
-
-
2,677,871
'
Net other financing (uses) sources
(6,587,656)
(130,752)
2,810,669
2,979,617
Excess of revenues and other financing
sources over expenditures and other financing uses
600,462
4,864,020
54,268
2,161,136
Fund balances, at beginning of year
1,142,515
18,186,961
404,657
685,858
Residual equity transfers in (out)
(323,299)
323,299
-
-
Adjustments to reserve for fuel inventory
-
-
-
-
Fund balances, at end of year
$ 1,419,678 $
23,374,280 $
458,925 $
2,846,994
'
See accompanying notes to financial statements.
�
' i
Exhibit 2
(928,122) 4,332,348 3,404,226 549,763
' 7,679,886 1,143,363 8,823,249 4,996,710
20,419,991 1,225,951 21,645,942 16,230,229
- - - 404,839
- 12,069 12,069 14,164
$ 28,099,877 $ 2,381,383 $ 30,481,260 $ 21,645,942
1 a
Total
primary
Component
government
unit
Totals - reporting entity
(memorandum
School
(memorandum
only)
only)
District
2001 2000
$ 7,859,612 $
- $
7,859,612 $
7,111,661
I
2,318,174
17,051,065
19,369,239
19,056,744
913,720
4,476,280
5,390,000
4,480,314
4,112,128
-
4,112,128
4,319,461
854,233
272,456
-
608,587
854,233
881,043
1,175,650
827,981
1,909,358
1,909,358
1,150,012
-
683,261
683,261
774,452
12,849
-
12,849
6,623
18,252,530
22,819,193
41,071,723
38,902,898
137,000
-
137,000
140,397
159,275
-
159,275
187,047
'
263,191
263,191
226,573
435,337
435,337
197,868
389,583
-
389,583
369,652
288,958
-
288,958
279,320
85,310
-
85,310
443,731
-
443,731
368,300
129,908
-
129,908
120,472
38,000
-
38,000
37,755
1,475,523
-
1,475,523
1,536,123
1
3,002
3,002
2,791
594,246
26,008,178
26,602,424
26,613,152
686,810
-
686,810
758,138
148,351
-
148,351
161,500
'
293,891
-
293,891
329,266
671,985
671,985
5,487
14,306
-
14,306
213,485
624,788
-
624,788
144,628
2,015,834
-
2,015,834
1,905,834
745,493
-
745,493
855,916
-
-
2,247
9,644,522
26,008,178
35,652,700
34,455,951
8,608,008
(3,188,985)
5,419,023.
4,446,947
1,634,092
-
1,634,092
1,621,398
2,172,794
164,105
2,336,899
2,159,838
5,966,440
5,966,440
5,556,310
(5,966,440)
-
(5,966,440)
(5,556,310)
(1,446,439)
(164,105)
(1,610,544)
(1,610,075)
-
(1,634,092)
(1,634,092)
(1,621,398)
.
2,677,871
2,677,871
(928,122) 4,332,348 3,404,226 549,763
' 7,679,886 1,143,363 8,823,249 4,996,710
20,419,991 1,225,951 21,645,942 16,230,229
- - - 404,839
- 12,069 12,069 14,164
$ 28,099,877 $ 2,381,383 $ 30,481,260 $ 21,645,942
1 a
KODIAK ISLAND BOROUGH
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances
Budget and Actual
General Fund, Special Revenue Fund and Debt Service Fund
Year Ended June 30, 2001
Revenues:
Property taxes
Intergovernmental:
State sources
Federal sources
Land sale proceeds
Severance taxes
Licenses, permits, fees and other local revenues
Other
Investments and property
Total revenues
Expenditures:
Current:
Borough assembly
Borough mayor
Borough clerk
Borough attorney
Finance department
Assessing department
Engineering/Facilities department
Community development department
Building official
Economic development
General and administration
Emergency preparedness
School district support
Health and sanitation department
Education, culture and recreation
Management information systems
Capital outlay:
Service district maintenance
Debt service:
Principal
Interest
Total expenditures
Excess of revenue over (under) expenditures
Other financing (uses) sources:
Operating transfers in from component unit
Operating transfers in from other funds
Operating transfers to component unit
Operating transfers out to other funds
Net other financing (uses) sources
Excess of revenues and other financing sources
over (under) expenditures and other financing uses
Fund balances, at beginning of year
Residual equity transfer out
Fund balances, at end of the year
See accompanying notes to financial statements.
General Fund
Variance-
favorable
Budget Actual (unfavorable)
$ 7,254,870 $
7,280,951 $
26,081
1,234,896
1,262,555
27,659
800,200
872,928
72,728
955,620
854,233
(101,387)
101,290
140,074
38,784
260,600
583,633
323,033
10,607,476
10,994,374
386,898
142,000
137,000
5,000
175,990
159,275
16,715
270,450
263,191
7,259
361,000
435,337
(74,337)
381,680
389,583
(7,903)
307,460
288,958
18,502
131,700
85,310
46,390
400,280
377,374
22,906
112,500
129,908
(17,408)
49,000
38,000
11,000
284,290
239,408
44,882
5,500
3,002
2,498
589,990
594,246
(4,256)
285,732
223,422
62,310
155,784
148,351
7,433
395,060
293,891
101,169
4,048,416
3,806,256
242,160
6,559,060
7,188,118
629,058
-
18,154
18,154
(5,966,440)
(5,966,440)
-
(648,370)
(639,370)
9
(6,614,810)
(6,587,656)
27,154
$ (55,750) 600,462 $ 656,212
1,142,515
(323,299)
$ 1,419,678
9
k g
6
i
Exhibit 3
Special Revenue Funds
Debt Service Funds
Variance-
Variance -
favorable
favorable
Budget
Actual
(unfavorable)
Budget
Actual
(unfavorable)
$ 534,570 $
578,661 $
44,091 $
-
$ - $
-
714,079
666,878
(47,201)
-
-
-
107,783
40,792
(66,991)
-
-
-
4,110,800
4,112,128
1,328
-
-
-
184,420
132,382
(52,038)
-
-
-
-
12,849
12,849
-
-
-
1,758,808
1,211,456
(547,352)
-
24,718
24,718
7,410,460
6,755,146
(655,314)
-
24,718
24,718
68,840
66,357
2,483
-
-
-
5,901,615
1,216,323
4,685,292
53,400
19,792
33,608
540,049
463,388
76,661
-
-
-
342,244
14,306
327,938
-
-
-
-
-
-
2,015,840
2,015,834
6
-
-
-
770,500
745,493
25,007
6,852,748
1,760,374
5,092,374
2,839,740
2,781,119
58,621
557,712
4,994,772
4,437,060
(2,839,740)
(2,756,401)
83,339
-
-
-
1,636,140
1,634,092
(2,048)
121,130
657,309
536,179
1,203,600
1,195,585
(8,015)
(787,076)
(788,061)
(985)
-
(19,008)
(19,008)
(665,946)
(130,752)
535,194
2,839,740
2,810,669
(29,071)
$ (108,234)
4,864,020 $
4,972,254 $
-
54,268 $
54,268
18,186,961
404,657
323,299
-
$
23,374,280
$ 458,925
10
Exhibit 4
KODIAK ISLAND BOROUGH
Combined Statement of Revenues, Expenses, Transfers
and Changes in Retained Earnings (Accumulated Deficits)
Proprietary Fund Types
Year Ended June 30, 2001 (with comparative totals for 2000)
Enterprise
2001 2000
Operating revenues:
Solid waste collection $ 1,718,904 $ 1,697,403
Solid waste disposal 889,885 975,557
State sources - revenue sharing 39,907 44,883
Charges for services /customer charges 69,078 63,695
Lease proceeds 2,204,927 2,214,342
Other 487,698 354,557
5,410,399 5,350,437
Operating expenses:
Personnel services
533,442
465,852
Solid waste collection
1,250,607
1,176,729
Refuse disposal
297,992
298,831
Contracted services
356,220
349,613
Repairs and maintenance
377,610
308,056
Landfill closure and postclosure costs
57,115
128,623
Depreciation
2,018,632
2,119,851
Support goods and services
802
3,359
General and administration
229,608
240,606
Medicaid refund
-
27,494
Telephone services
-
35,909
Recycling services
67,680
64,900
Contributions
2,844
8,801
5,192,552
5,228,624
Operating income
217,847
121,813
Other income (expenses):
Intergovernmental revenue
69,838
-
Loss on disposal of fixed assets
(226,761)
(8,669)
Investment income
76,673
91,984
Interest expense
(171,689)
(249,089)
Net loss from continuing operations
(34,092)
(43,961)
Transfer to other funds:
Operating transfers out to other funds
(726,355)
(549,763)
Net operating transfers
(726,355)
(549,763)
Amortization of contributions in aid of construction
1,048,296
1,048,299
Increase in retained earnings
287,849
454,575
Accumulated deficits at beginning of year
(97,451)
(779,624)
Net effect of residual equity transfer
-
227,598
Retained earnings (accumulated deficits), at end of year
$ 190,398 $
(97,451)
See accompanying notes to financial statements.
11
Exhibit 5
KODIAK ISLAND BOROUGH
Combined Statement of Cash Flows
Proprietary Fund Types
Year Ended June 30, 2001 (with comparative totals for 2000)
Operating income
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation
Loss on disposal of fixed assets
Changes in assets and liabilities that provided (used) cash:
Accounts receivable:
Customers
Inventories
Due to /from other funds
Accounts payable
Deferred revenues
Accrual for landfill closure
and postclosure costs
Other accrued liabilities
Total adjustments
Net cash provided by
operating activities
Cash flows from noncapital and
related financing activities:
Operating transfers out to other funds
Net cash provided by noncapital
financing activities
Enterprise
2001 2000
$ 217,847 $ 121,813
2,018,632 2,119,851
— 8,669
266,754
814,484
(113,086)
55,393
16,946
(266,877)
(2)
(344,506)
56,057
(60,000)
127,358
472
3,059,123 1,641,022
3,276,970 1,762,835
(726,355) (549,763)
(726,355) (549,763)
(Continued)
12
Exhibit 5
(Continued)
KODIAK ISLAND BOROUGH
Combined Statement of Cash Flows
Proprietary Fund Types
Year Ended June 30, 2001 (with comparative totals for 2000)
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
Interest paid on notes payable, capital leases,
and interfund borrowing
Proceeds from issuance of long -term
interfund borrowing
Proceeds from issuance of notes payable
Principal payments made on notes payable
Principal payments made on capital lease
Contributions in aid of construction
Net cash used in capital
and related financing activities
Cash flows from investing activities:
Change in assets whose use is limited:
Deductions from (additions to) restricted cash
Interest and dividends on investments
Net increase (decrease) in investments
Net cash provided by (used in)
investing activities
Net change in cash and cash equivalents
Cash and equivalents, at beginning of year
Cash and equivalents, at the end of year
Noncash capital and related financing activities:
Loss on disposal of fixed assets
Noncash noncapital financing activities:
Residual equity transfers
See accompanying notes to financial statements.
Enterprise
2001 2000
$ (491,697) $ (898,109)
(171,689) (223,438)
(210,000)
(195,000)
299,686
513,249
(592,016)
(556,625)
(261,951)
(308,401)
—
265,662
(1,427,667) (1,402,662)
— 218,013
85,637 81,065
(1,220,596) 223,603
(1,134,959) 522,681
(12,011) 333,091
333,191 100
$ 321,180 $ 333,191
$ 226,761 $
$ 226,761
(69,157)
$ (69,157)
f
13
i
KODIAK ISLAND BOROUGH
Notes to Financial Statements
June 30, 2001
(1) Summary of Significant Accounting Policies
(a) Reporting Entity
The Kodiak Island Borough (the Borough), Alaska, 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 unit, an
entity for which the government is considered to be financially accountable. The 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 organization is a component unit.
' Kodiak Island Borough School District
The Borough has delegated the operating responsibility for public education to the Kodiak Island
Borough School District (the School District). In accordance with statutes, the Borough retains
ownership of the education 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 the component unit may be obtained at the entity's administrative
offices for the Kodiak Island Borough School District.
Kodiak Island Borough School District
' 722 Mill Bay Road
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 accounting principles generally
' accepted in the United States of America. Nor are such data comparable to a consolidation.
Interfund eliminations have not been made in the aggregation of these data.
Reclassification
Certain 2000 balances have been reclassified to conform to the current year presentation.
' (b) Measurement Focus, Basis of Accounting, and Basis of Presentation
The accounts of the Borough 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 is 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.
14
The Borough has the following fund types and account groups:
Governmental funds are used to account for the Borough'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 "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 Borough
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 that is recognized when due, and certain compensated absences and claims and judgments
that are recognized when the obligations are expected to be liquidated with expendable available
financial resources.
Property taxes, franchise taxes, severance taxes, licenses, interest and special assessments are
susceptible to accrual. Other receipts and taxes become measurable and available when cash is
received by the Borough and are recognized as revenue at that time.
Entitlements and shared revenues are recorded at the time of receipt, or earlier if the susceptible to
accrual criteria are met. Expenditure driven grants are recognized as revenue when the qualifying
expenditures have been incurred and all other grant requirements have been met.
Governmental funds include the following fund types:
The general fund is the Borough's primary operating fund. It accounts for all financial resources of
the general government, except those required to be accounted for in another fund.
Special revenue funds account for revenue sources that are legally restricted to expenditure for
specific purposes, not including expendable trusts or major capital projects.
Debt service funds account for the servicing of general long -term debt not being financed by
proprietary or nonexpendable trust funds.
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 Borough has elected to follow all
applicable Governmental Accounting Standards Board (GASB) pronouncements and all Financial
Accounting Standards Board (FASB) pronouncements issued on or before November 30, 1989 that
are not in conflict with GASB pronouncements. 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 Borough Assembly has decided that the determination of
revenues earned, costs incurred and/or net income is necessary for management accountability.
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.
15
J
L
' Summarized below are the major sources of revenue and the applicable recognition policies:
Property Taxes Property taxes are based on the assessed value of taxable property as of January 1.
Pursuant to Alaska Statute 29.45.240, the Borough establishes the mill rate on or before June 15th.
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, one -half must be
paid on or before August 15th and the remainder becomes due on or before November 15th (in lieu
of October 15th). Borough property tax revenues are recognized in the fiscal year in which they
' become measurable and available, which is generally the year following the year the tax bills are
mailed.
All taxes are delinquent on November 16th, and a tax foreclosure process may commence as
outlined in Alaska Statutes Title 29. Briefly, this entails the petition for Judgment of Foreclosure
signed by the District Court Judge and the publication of all delinquent taxes in the local newspaper
for four consecutive weeks.
Real property tax liens are enforced by one general foreclosure proceeding against the delinquent
properties.
Severance Taxes Severance taxes are based on the amount and value of natural resources severed
from the environment. Types of resources taxed include seafood, gravel and mineral resources, and
timber. Severance tax 'returns are sent to 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.
Intergovernmental Revenue State - 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, and unrealized gains and losses on investments held at fiscal year-
end.
Land Sales Proceeds and Other Local Revenues Amounts received pursuant to land sale contracts
are recorded on the cash basis. Noncurrent portions of long -term receivables due to Governmental
Fund Types are reported on the associated balance sheets, in spite of their spending measurement
focus. Special reporting treatments are used to indicate, however, that they should not be considered
available spendable resources since they do not represent net current assets. Recognition of
Governmental Fund Type revenues represented by noncurrent receivables is deferred until they are
paid.
Other local revenues are recorded on a basis consistent with their nature in relation to measurement
and availability standards.
16
(c) Budgets and Budgetary Accounting
Borough
The Borough follows these procedures in establishing the budgetary data reflected in the combined
financial statements:
• The Borough Manager 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.
• Public hearings are conducted by the Borough Assembly to obtain citizen comments.
• 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 Borough Manager becomes the adopted budget.
• 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:
All new appropriations are authorized by an appropriation ordinance that amends the
annual budget ordinance.
A resolution of the Borough Assembly is required to move (appropriate) amounts
between departments and projects.
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.
• Expenditures may not legally exceed appropriations at the following levels: Capital Projects
Funds - project level, all other funds — department level.
• All funds, except Capital Projects Funds, are budgeted on an annual basis encompassing a
fiscal year. Budgets of Capital Projects Funds generally encompass the period from start-up to
project completion, which is generally greater than one year.
• Appropriations lapse at year end to the extent that they have not been expended for all funds,
except Capital Projects Funds, which lapse at project completion.
• Budgets adopted by the Borough Assembly are in accordance with accounting principles
generally accepted in the United States of America.
• Additional appropriations for certain funds were enacted during the year. The majority of
these appropriations reflect increases and decreases in actual grant awards along with the
inclusion of 2000 Series bond issuances. Supplemental appropriations amounted to
approximately $469,000 for the general fund and $691,000 for the special revenues funds.
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
17
approval. The Borough Assembly is required by ordinance to approve the School District budget in
total only and 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.
(d) Assets, Liabilities and Fund Equity
Interfund Transactions
Transactions that would be treated as revenues, expenditures or expenses, if they involved
organizations external to the Borough, are similarly treated if they occur between the fund types.
Reimbursements from one fund to another are treated as expenditures or expenses of the
reimbursing fund and a reduction of the expenditures or expenses of the reimbursed fund. Transfers
from funds receiving revenues to funds, through which the resources are to be expended, and
operating loss subsidies are classified as operating transfers. Nonrecurring or nonroutine transfers of
equity between funds are recorded as equity transfers. Long -term interfund transfers of funds are
accounted for as long -term interfund advances/borrowings. See note 7 for additional disclosure.
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. It is the
Borough's policy to void all open purchase orders at year end that are not in the Capital Projects
funds.
Inventories
Expendable operating supplies of the Borough are accounted for using the purchase method, and at
June 30, 2001 there are no significant amounts of such inventories on hand. The Hospital Enterprise
Fund also has at June 30, 2001, amounts of inventory assigned to Providence as of April 21, 1997
which, by the terms of the lease agreement for the hospital facilities (see note 17), are required to be
returned to the Borough at the termination of the lease in at least equal value.
Retirement Plans
All full -time employees of the Borough and School District participate in either the Alaska Public
' Employees' Retirement System or the Alaska Teachers' Retirement System. The Borough and
` School District accrue pension expense that includes current costs and amortization of prior service
costs. The policy is to fund pension costs accrued.
Annual Leave
'
The Borough records its liability for accrued annual leave in the Governmental Fund Types for the
amounts estimated to be liquidated with current available resources.
The commitment for accrued annual leave not included in the Governmental Fund Types is recorded
'
in the General Long -Term Debt Account Group.
All funds record annual vacation leave as earned.
'
18
(e) Cash Flows
All highly liquid investments, excluding restricted assets, with original maturities of three months or
less are considered cash equivalents for purposes of the statement of cash flows
(f) Use of Estimates
Preparation of financial statements in accordance with accounting principles generally accepted in
the United States of America requires management to make estimates and assumptions that affect
the amounts reported in these financial statements. Actual results may differ from the estimates.
Significant estimates include the allowance for doubtful accounts, the useful lives of assets and
related accumulated depreciation, accrued landfill closure and post - closure care costs.
(g) New Accounting and Reporting Standards
In June 1999, Statement No. 34 of the Governmental Accounting Standards Board, Basic Financial
Statements — and Management's Discussion and Analysis —for State and Local Governments, was
issued. This statement establishes new financial reporting requirements that will result in greater
accountability by state and local governments by providing more useful information to a wider range
of users. This statement also requires state and local governments to present a government wide set
of financial statements prepared on the accrual basis and to record and to depreciate capital assets,
including infrastructure assets. The impact of this new standard has not been fully determined,
however, the change will likely result in a significant increase in equity as a result of recording all
capital assets, including infrastructure assets. The Borough is required to adopt this statement for the
fiscal year beginning July 1, 2002.
(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 are carried at fair value, as determined
by quoted market prices.
At June 30, 2001, the carrying amount of the Borough and its Component Unit deposits was $2,432,390
and the corresponding bank balance was $2,962,338. The year -end bank balances are both insured by the
Federal Deposit Insurance Corporation and collateralized by Government and Agency Obligations and
General Obligation Bonds of a Municipality. Collateral, in the amount of $4,000,000, is held by Bankers
Trust Company, the pledging financial institution's agent, in the Borough's name.
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.
19
C
1
11
n
' Investments are categorized as follows to give an indication of the level of risk assumed: Category 1
includes investments that are insured, or registered or for which the securities are held by the Borough or
its agent in the Borough's name; category 2 includes uninsured and unregistered investments for which the
' securities are held by the counter party's trust department or agent in the Borough's name; category 3
includes uninsured and unregistered investments for which the securities are held by the counter party, or
by its trust department or agent but not in the Borough's name. The carrying amount of temporary
investments approximates fair value. At June 30, 2001, the Borough's investment balances were
categorized as follows:
Category Carrying
1 2 3 amount
Investments — categorized:
U.S. Government Securities $ 19,010,182 $ — $ — $ 19,010,182
Investments — not categorized:
Alaska Municipal League
Investment Pool 5,203,365
Total Investments $ 24,213,547
The Alaska Municipal League Investment Pool ( AMLIP) is considered to be an external investment pool
as defined by GASB Statement No. 31. AMLIP is not SEC - registered. Alaska Statute 37.23 establishes
regulatory oversight of the pool. The law sets forth numerous requirements regarding authorized
investments and reporting. The pool is incorporated in the State of Alaska as a nonprofit corporation and
reports to its Board of Directors. Alaska Statute 37.23.050 requires the retention of an investment
manager.
The manager is required to produce monthly disclosure statements to the pool. The pool has also retained
an investment advisor to ensure compliance with investment policies. All participation in the pool is
voluntary. The pool must maintain a dollar- weighted average maturity of 90 days or less, and only
purchase instruments having remaining maturities of 397 days or less. On a monthly basis, the investments
in the pool are reviewed for fair value by an independent pricing service. As of June 30, 2001 the fair
value of the investment in the pool approximates the fair value of the pool shares.
The above bank deposits of $2,432,390, investments of $24,213,547 plus cash on hand of $750 totaling
$26,646,687 are reported under the following captions in the combined financial statements:
Equity in central treasury cash $ 2,433,140
Temporary investments 24,213,547
Total deposits and investments $ 26,646,687
The Borough reports investments at fair value in the balance sheet, and reports the changes in the fair
value of investments as revenue in the operating statement.
20
(3) Annual Appropriation to the School District
An annual appropriation is made to the School District in order to provide the School District with total
resources in a fiscal year equal in amount to budgeted expenditures.
In addition to the annual appropriation, the Borough provides the School District, without charge, general
liability and property insurance, data processing services, the annual independent audit, mental health
services, and grounds maintenance services. These are reflected as in -kind services in the financial
statements of the School District.
(4) Retirement Commitments
The School District, a component unit of the Borough, participates in the Alaska State Teachers'
Retirement System (TRS), a cost - sharing, multiple- employer pension plan that covers the School District's
certificated employees. The Alaska Public Employees' Retirement System (PERS), covers most of the
employees not covered by TRS and all Borough employees. Each plan issues a publicly available financial
report that includes financial statements and required supplementary information. Those reports may be
obtained from the State of Alaska.
State of Alaska
Department of Administration
Division of Retirement Benefits
P.O. Box 11 -0203
Juneau, Alaska 99811 -0203
(a) PERS
Plan description: All regular employees of the Borough who work more than fifteen hours per week
participate in PERS. PERS is an agent multiple- employer, statewide defined benefit plan,
administered by the State of Alaska. Benefit and contribution provisions are established by Chapter
35 of Alaska Statute Title 39, and may be amended only by state legislature. 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 percent of the member's three highest average monthly compensation for the first ten
years of service, 2 -1/4 percent for the second ten years of service and 2 -1/2 percent for all remaining
years of service. All service earned prior to July 1, 1986 will be calculated using the 2 percent
multiplier. Employees with 30 or more years of credited service (20 years for peace officers and
firefighters) may retire at any age and receive a normal benefit. The system also provides death and
disability benefits and postemployment healthcare benefits.
Funding policy: Under State law, covered employees are required to contribute 6.75 percent of their
annual covered salary and the Borough is required to contribute an actuarially determined rate — the
current rate is 2.82 percent of annual covered payroll.
Annual pension cost: For the year ended June 30, 2001, the Borough's annual pension cost was
$69,805 for PERS which was equal to the required and actual contribution. The actuarial required
contribution was computed as part of an actuarial valuation as of June 30, 1999. Significant actuarial
assumptions used in the valuation include: (a) a rate of return on the investment of present and
future assets of 8.25 percent per year compounded annually and (b) projected salary increases of 5.5
percent a year for the first five years of employment and 4.5 percent per year thereafter, with
distinction made between amounts for inflation (4.0 percent), merit for the first five years (1.0
21
percent), and productivity (0.5 percent). The actuarial value of PERS assets was determined using
techniques that smooth the effects of short-term volatility in the fair value of investments over a five
year period. The contribution rate for normal cost is determined using the projected unit credit
actuarial funding method. The excess of assets over the actuarial accrued liability is amortized over
a rolling 25 years, which is an open amortization period. The percentage of pay method is used for
amortization purposes.
' Three -year trend information for PERS
' Postem P loyment healthcare benefits: Postemployment healthcare benefits are provided without cost
to all employees first hired before July 1, 1986, and employees who are disabled or age sixty -five or
older, regardless of initial hire dates. Employees first hired after June 30, 1986, with five years of
credited service (or ten years of credited service for those first hired after July 1, 1996) may receive
postemployment healthcare benefits prior to age sixty by paying the full monthly premium, and by
paying half of the monthly premium if they are between the ages of sixty and sixty -five.
The actuarially required and actual contributions for postemployment healthcare benefits for the
year ended June 30, 2001 was $27,146. The amount of net assets available for postemployment
healthcare benefits, the actuarial accrued liability and funded excess are $4,009,000, $3,460,000 and
$549,000, respectively.
1 (b) Component Unit Retirement Commitments
The following is a summary of selected information on the component unit's retirement
' commitments. Complete pension disclosures are presented in the component unit financial
statements.
' School District participation in PERS, a defined benefit agent multiple - employer plan, is separate
from the Borough's participation. Benefits are the same as described for the Borough's
participation. For the years ended June 30, 2001, 2000, and 1999, the School District's annual
pension and postemployment healthcare cost was $323,991, $271,733, and $176,670 and equal to
' the required and actual contributions.
TRS is a cost - sharing, multiple - employer defined benefit cost sharing plan. Benefit and contribution
provisions are established by Chapter 25 of Alaska Statute Title 14, and may be amended only by
the state legislature. Participation is compulsory for certified personnel. Employees hired prior to
July 1, 1990 with eight years or more of credited service are entitled to annual pension benefits
beginning at normal retirement age 55 equal to 2 percent of their highest three -year average annual
compensation for each year of service. The Plan permits early retirement at age 50. For employees
hired after June 30, 1990, the normal and early retirement ages are 60 and 55, respectively.
' Employees may elect to receive their pension benefits in the form of a joint or survivor annuity.
Effective January 1, 1987, a married member who retires must receive his or her benefit in the form
of a joint and survivor annuity unless the member's spouse consents to another form of benefit.
i 22
Annual
Percentage of
pension cost
APC Net pension
Year ended
(APC)
contributed obligation
6/30/1999
$ 133,656
100% $ _
'
6/30/2000
105,205
100%
6/30/2001
69,805
100% —
' Postem P loyment healthcare benefits: Postemployment healthcare benefits are provided without cost
to all employees first hired before July 1, 1986, and employees who are disabled or age sixty -five or
older, regardless of initial hire dates. Employees first hired after June 30, 1986, with five years of
credited service (or ten years of credited service for those first hired after July 1, 1996) may receive
postemployment healthcare benefits prior to age sixty by paying the full monthly premium, and by
paying half of the monthly premium if they are between the ages of sixty and sixty -five.
The actuarially required and actual contributions for postemployment healthcare benefits for the
year ended June 30, 2001 was $27,146. The amount of net assets available for postemployment
healthcare benefits, the actuarial accrued liability and funded excess are $4,009,000, $3,460,000 and
$549,000, respectively.
1 (b) Component Unit Retirement Commitments
The following is a summary of selected information on the component unit's retirement
' commitments. Complete pension disclosures are presented in the component unit financial
statements.
' School District participation in PERS, a defined benefit agent multiple - employer plan, is separate
from the Borough's participation. Benefits are the same as described for the Borough's
participation. For the years ended June 30, 2001, 2000, and 1999, the School District's annual
pension and postemployment healthcare cost was $323,991, $271,733, and $176,670 and equal to
' the required and actual contributions.
TRS is a cost - sharing, multiple - employer defined benefit cost sharing plan. Benefit and contribution
provisions are established by Chapter 25 of Alaska Statute Title 14, and may be amended only by
the state legislature. Participation is compulsory for certified personnel. Employees hired prior to
July 1, 1990 with eight years or more of credited service are entitled to annual pension benefits
beginning at normal retirement age 55 equal to 2 percent of their highest three -year average annual
compensation for each year of service. The Plan permits early retirement at age 50. For employees
hired after June 30, 1990, the normal and early retirement ages are 60 and 55, respectively.
' Employees may elect to receive their pension benefits in the form of a joint or survivor annuity.
Effective January 1, 1987, a married member who retires must receive his or her benefit in the form
of a joint and survivor annuity unless the member's spouse consents to another form of benefit.
i 22
l
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.
For the years ended June 30, 2001, 2000, and 1999, the School District's annual pension cost was
$1,345,263, $1,391,110, and $1,600,327, which was equal to the required and actual contribution.
(c) Required Supplementary Information
Schedule of Funding Progress for PERS
(Dollar amounts in thousands for the primary government only)
(5) Fixed Assets
A summary of changes in the General Fixed Assets Account Group for the year ended June 30, 2001
follows:
Government
July 1, 2000
Additions
Deductions
June 30, 2001
Land
$ 5,434,991 $ —
$ 72,804
$ 5,362,188
Buildings
88,811,586 —
Funding
88,783,292
Improvements other than buildings
Actuarial
30,100
3,700,998
Machinery and equipment
excess as a
687,745
Actuarial
accrued
Funding
20
2,357,374
percentage
Actuarial
value of
liability
Excess
Funded
Covered
of covered
valuation
assets
(AAL)
(FE)
ratio
payroll
payroll
date
(a)
(b)
(a -b)
(a/b)
(c)
((a -b) /c)
6/30/1997
$ 7,988 $
7,288 $
700
110% $
3,179
22.0%
6/30/1998
9,698
8,303
1,395
117%
2,054
67.9%
6/30/1999
9,886
8,535
1,351
116%
1,864
72.5%
(5) Fixed Assets
A summary of changes in the General Fixed Assets Account Group for the year ended June 30, 2001
follows:
Government
July 1, 2000
Additions
Deductions
June 30, 2001
Land
$ 5,434,991 $ —
$ 72,804
$ 5,362,188
Buildings
88,811,586 —
28,294
88,783,292
Improvements other than buildings
3,731,098 —
30,100
3,700,998
Machinery and equipment
1,790,739 14,305
687,745
1,117,298
Construction work -in- progress
1,683,416 673,978
20
2,357,374
$ 101,451,830 $ 688,283
$ 818,963
$ 101,321,150
Assets in the General Fixed Assets Account Group are not depreciated.
23
i i
� I
An expenditure qualifies for capitalization as a fixed asset if the total cost is $5,000 or more, the asset will
last longer than one year, and the asset is not consumable. Improvements to an existing asset that increase
the life or value of that asset also qualify for capitalization, and are added to the carrying amount of the
original asset. All fixed assets are depreciated over the estimated remaining useful life of the asset on a
straight -line basis. The Borough does not capitalize either infrastructure fixed assets or improvement to
such.
� I
� I
I I
� I
� I
I I
1 24
'
The following is a summary of Proprietary Fund fixed assets at June 30, 2001:
Enterprise
funds
Unclassified utility plant in service $
2,200,347
Land and improvements
1,423,044
'
Building and improvements
43,971,443
Equipment
6,794,194
Construction work -in process
2,231,804
56,620,832
Less: accumulated depreciation
(9,755,684)
'
Net fixed assets $
46,865,148
'
Depreciation lives for Proprietary Fund fixed assets
are as follows:
Building and improvements
15 -20 years
Equipment
5 -20 years
An expenditure qualifies for capitalization as a fixed asset if the total cost is $5,000 or more, the asset will
last longer than one year, and the asset is not consumable. Improvements to an existing asset that increase
the life or value of that asset also qualify for capitalization, and are added to the carrying amount of the
original asset. All fixed assets are depreciated over the estimated remaining useful life of the asset on a
straight -line basis. The Borough does not capitalize either infrastructure fixed assets or improvement to
such.
� I
� I
I I
� I
� I
I I
1 24
(6) Long Term Debt
=
.. These loans represent State of Alaska financial assistance programs, for which no payment schedules will be finalized, or principal payments made, until the plans
and specifications for the projects funded have been completed. The loans are in the amount of $350,000 and $50,000, and are to be repaid from general fund
revenues of the Borough, and therefore the debt is reported in the General Long -term Debt Account Group. Interest begins accruing at the stated rates from the date
The following is a summary of long -term debt
for the year ended June 30,2001:
of each individual disbursement of loan proceeds to
Interest
Principal Payments
Issue
Maturity
Type of Debt
Rates
Dates
Date
Dates
Dates
Amount
Environmental Protection Agency
Asbestos Abatement Loan
0.0% '
-
06/20/1985
12/31/2004
12/31/2001 $
10,417
06130 and 12/31
-
2002 thru 2004
6 x 10,417
72,919
General Obligation
Bonds - 1993 Series
3.90- 7.00%
8/15 -2/15
11/15/1993
02/15/2006
02/15/2002
825,000
02/15/2003
860,000
02115/2004
900,000
02/15/2005
940,000
02/15/2006
980,000
4,505,000
General Obligation
Bonds - 1994 Series
5.40 -5.50%
02/15/2007
11/15/1993
02/15/2007
02/1512007
1,030,000
General Obligation
Bonds - 1998 Series
3.25- 4.30%
8/15 -2/15
12/22/1998
02/15/2014
02/15/2002
50,000
02/15/2003
50,000
02/15/2004
55,000
02115/2005
55,000
O2JI512006
60,000
02/15/2007
60,000
02/15/2008
1,150,000
02/15/2009
1,200,000
02/15/2010
1,250,000
02/15/2011
1,305,000
02115/2012
1,360,000
02115/2013
1,420,000
02/15/2014
1,480,000
9,495,000
General Obligation
Bonds - 2000ESeries
4.75 -5.0%
8/1 -2/1
12/12/2000
02102/2011
02/01/2002
120,000
02/01/2003
125,000
02/01/2A04
130,000
02/01/2005
135,000
02/01/2006
145,000
02/01/2007
150,000
02/01/2008
160,000
02101/2009
165,000
02/01/2010
175,000
02/01/2011
180,000
1,485,000
General Obligation
Bonds - 2000FSeries
6.9 -9.0%
8/1 -2/1
12/12/2000
02/01/2011
02./01/2002
80,000
02./01/2003
85,000
02. /01/2004
95,000
02J01/2005
105,000
02. /01/2006
110,000
02./01/2007
120,000
02J01/2008
130,000
02JO1/2009
140,000
02JOI /2010
150,000
02J0112011
160,000
1,175,000
Accrued annual leave
0.0%
113,983
Judgment payable ( see note 18)
1,350,000
State of Alaska
ADEC loans
Clean Water - Karluk
3.92 -4.05%
'*
"
""
"'
105,272
$
19,332,174
1
t
' Interest free unless delinquent, the 7 percent plus fees and penalties.
=
.. These loans represent State of Alaska financial assistance programs, for which no payment schedules will be finalized, or principal payments made, until the plans
and specifications for the projects funded have been completed. The loans are in the amount of $350,000 and $50,000, and are to be repaid from general fund
revenues of the Borough, and therefore the debt is reported in the General Long -term Debt Account Group. Interest begins accruing at the stated rates from the date
of each individual disbursement of loan proceeds to
the Borough.
)
25
Authorized Prior Years Current Year
Fiscal Balance at Retired/ Balance at
Year Amount Issued Retired July 1, 2000 Issued Refunded June 30,2001
$ $ $ $ $ $ $
1985 375,000 375,000 281,251 93,749 — 20,830 72,919
1994 9,215,000 9,215,000 3,920,000 5,295,000 —
1994 9,985,000 9,985,000 8,955,000 1,030,000 —
1999 9,740,000 — 195,000 9,545,000 —
2001 1,485,000 1,485,000 — — 1,485,000
790,000 4,505,000
— 1,030,000
50,000 9,495,000
1,485,000
2001 1,175,000 1,175,000 — — 1,175,000 — 1,175,000
2001 — — — 132,006 1,418 19,441 113,983
— — — 1,350,000 — — 1,350,000
1998 400,000 105,272 105,272 105,272
$ 32,375,000 $ 22,340,272 $ 13,351,251 $ 17,551,027 $ 2,661,418 $ 880,271 $ 19,332,174
26
I !
The annual requirements to amortize all general obligation bonded debt and the EPA loan payable
outstanding as of June 30, 2001, including interest payments of $6,004,920 on the general obligation debt,
are as follows:
Year ending
General
EPA Loan
June 30:
obligation
payables
Total
2002
$ 1,940,659 $
20,834 $
1,961,493
2003
1,900,993
20,834
1,921,827
2004
1,907,690
20,834
1,928,524
2005
1,904,815
10,417
1,915,232
2006
1,902,785
—
1,902,785
Thereafter
14,137,978
—
14,137,978
13,322,225
$ 23,694,920 $
72,919 $
23,767,839
The amount of $344,942 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.
Refunding Bonds
Investments in securities and current obligations of defeased bonds are not reflected in the combined
financial statements. A summary of the investments held in trust and the current obligations of defeased
bonds at June 30, 2001 are summarized as follows:
Bond principal
outstanding
Series 1994 Government Obligation bonds, 5.4% to 5.5 %,
due in installments to 2007 $ 8,955,000 $
(1) Alaska USA Trust Co. as trustee
(7) Long -Term Interfund Borrowings
Investments held
in trust
8,403,769 (')
In October 1997 the Facilities Special Revenue Fund loaned $8,000,000 to the Kodiak Fisheries Research
Center Enterprise Fund. The loan from the Facilities Special Revenue Fund is accounted for as a long -term
interfund advance, while the liability in the Kodiak Fisheries Research Center Enterprise Fund is
accounted for as a long -term interfund borrowing. The interest revenue and interest expense on the debt
are reported as operating transfers in/out. The advance bears interest at 7 percent, and the scheduled
payments for the next five fiscal years ended and thereafter are as follows:
Year ending
June 30:
2002
2003
2004
2005
2006
Thereafter
Principal
Interest
Total
$ 225,000 $
523,775 $
748,775
'
240,000
507,500
747,500
255,000
490,175
745,175
275,000
471,625
746,625
290,000
451,850
741,850
6,310,000
3,282,300
9,592,300
$ 7,595,000 $
5,727,225 $
13,322,225
,
27
f
(8) Capital Lease Obligations
The Hospital Enterprise Fund leases various equipment under a long -term lease agreement at the nominal
annual interest rate of 5.86 percent. The initial cost of such equipment included in fixed assets at June 30,
2001, is approximately $1,443,095. Accumulated amortization on the leased equipment is approximately
$368,069 at June 30, 2001.
The minimum required lease payments under the capital leases for the next four fiscal years ended are as
follows:
'
Year ending June 30:
2002 $ 333,336
2003 333,336
2004 333,336
'
2005 194,447
'
Less amount representing interest (119,429)
$ 1,075,026
'
Note Payable
(9)
As of June 30, 2001, the Borough had the following notes payable outstanding in the Enterprise Funds:
'
Note payable to First Union Capital Markets Corporation, due in monthly
installments of $57,693, including interest (at an effective annual rate
1
of 6.4 %); secured by equipment $
1,299,346
Note payable to Alaska Department of Environmental Conservation
(ADEC), to be paid within 20 years at 3.8% interest, terms to be
'
negotiated with the first loan payment due one year following
substantial completion and initiation of operation of the facility
1,231,804
'
2,531,150
Less current portion of note payable
629,656
$
1,901,494
Future required minimum principal payments at June 30, 2001 excluding payments to the ADEC for the
fiscal years ended are as follows:
Year ending June 30:
2002
2003
$ 629,656
669,690
$ 1,299,346
28
f
i
f
i
(10) Capital Project Funds Construction Commitments ,
A summary of Capital Projects Funds construction commitments at June 30, 2001 follows:
Various Borough Projects $ 2,076,349 '
State Capital Grants 61,581
$ 2,137,930
Resources are presently available or committed to finance construction commitments at June 30, 2001, for
all funds, inclusive of those resources appropriated at year -end.
(11) Enterprise Fund Segment Information
The Borough owns and operates a Municipal Solid Waste Collection and Disposal Fund, a Hospital
Facilities Fund (See note 17), a Kodiak Fisheries Research Center Fund, and a 911 Services Fund.
Segment financial data as of and for the year ended June 30, 2001, for those funds are as follows:
(12) Deferred Compensation Plan
The Kodiak Island Borough has a deferred compensation plan created and amended 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 deferred under this plan are held in a trust that was established for the exclusive benefit of
plan participants. Amounts contributed to the plan by participants during the year ended June 30, 2001,
was $67,940.
The plan is managed by the International City Managers Association Retirement Corporation. The
Borough believes that the plan does not meet the criteria in NCGA Statement No. 1, Governmental
Accounting and Reporting Principles, for inclusion as a fiduciary fund.
f
29 ,
Municipal
Kodiak
solid waste
fisheries
collection and
Hospital
research
disposal
Facilities
911 Services
center
Total
Operating revenues
$ 2,620,355 $
1,236,039 $
69,078 $
1,484,927 $
5,410,399
Depreciation
93,714
1,180,918
—
744,000
2,018,632
Operating income
8,444
55,121
39,078
115,204
217,847
Intergovernmental revenue
69,838
—
—
—
69,838
Operating transfers in (out)
—
(191,030)
—
(535,325)
(726,355)
Net income (loss)
89,165
(290,259)
39,078
127,924
(34,092)
Amortization of contributions in aid
of construction
52,408
598,537
—
397,351
1,048,296
Property, plant and equipment
additions (deletions), net
256,086
(772,120)
—
(24,159)
(540,193)
Net working capital
856,695
(191,648)
70,522
922,526
1,658,095
Total assets
5,364,606
24,861,399
70,522
20,588,946
50,885,473
Bonds and other long -term liabilities
Payable from operating revenue
3,353,955
1,466,996
—
—
4,820,951
Payable from other sources
—
—
—
7,370,000
7,370,000
Total equity
1,709,540
22,487,027
70,522
12,065,203
36,332,292
(12) Deferred Compensation Plan
The Kodiak Island Borough has a deferred compensation plan created and amended 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 deferred under this plan are held in a trust that was established for the exclusive benefit of
plan participants. Amounts contributed to the plan by participants during the year ended June 30, 2001,
was $67,940.
The plan is managed by the International City Managers Association Retirement Corporation. The
Borough believes that the plan does not meet the criteria in NCGA Statement No. 1, Governmental
Accounting and Reporting Principles, for inclusion as a fiduciary fund.
f
29 ,
I
' (13) Insurance and Risk Retention
The Kodiak Island Borough is exposed to numerous risks of loss associated with the operations of a
government. These potential losses include, but are not limited to, employee relations and injuries,
' contracts, theft, loss or damage of property and general liability. The Borough manages its risks from these
potential losses by participating in the Alaska Municipal League Joint Insurance Association, as well as
purchasing commercial insurance coverage. This insurance has provided the Borough with adequate
' coverage in the past. There were no significant changes in insurance coverage obtained and there were no
claims or settlements that exceeded insurance coverage in any of the past three fiscal years.
' The Borough is a member in good standing of the Alaska Municipal League Joint Insurance Association
(JIA), a governmental insurance pool established by the Alaska Municipal League. Claims are covered on
an occurrence basis. JIA provides risk management services, appraisal services and there is also a separate
' pool for policy liability. The Kodiak Island Borough Finance Director is a member of the Board of
Directors of the JIA.
The responsibilities of both JIA and the participants are as follows:
Responsibilities of JIA
' JIA shall perform the following instructions in discharging its responsibilities:
• Provide insurance coverage as necessary for property, including building and contents,
' automobile, mobile equipment and data processing equipment, casualty, including general
liability, public officials' and employees' liability, auto liability and employee benefit
liability; workers' compensation, including employers' liability; commercial blanket bond;
1 and time element.
• Assist each participant's assigned risk manager with the implementation of that function.
• Provide loss prevention and safety and consulting services to participants as required.
• Proved claims adjusting. and subrogation services for claims covered by the association's joint
insurance arrangement.
' Responsibilities of the Participants
The Participant's shall have the following responsibilities:
• The Borough Assembly or appointing official of each participant shall appoint a
representative as provided in Article 5, Section 2 of the bylaws and at least one alternate
' representative to attend member meetings.
• Each participant shall appoint an employee of the participant to be responsible for the risk
management function within that entity and to serve as a liaison between the participant and
' JIA with respect to risk management.
• Each participant shall maintain an active safety officer and/or committee, and shall comply
' with all recommendations of JIA concerning the development and implementation of a loss
E control policy to prevent unsafe practices.
• Each participant shall maintain its own set of records as a loss log, in all categories of loss to
insure accuracy of JIA's loss reporting system.
11 30
I ;
(14) Individual Fund Disclosures
Interfund Receivables and Payables
A summary of interfund receivables and payables at June 30, 2001, is as follows:
General Fund
Special Revenue Funds:
Child Care Assistance Program
Welfare to Work
Building and Grounds
Coastal Management
L.E.P.C.
Facilities Fund
Capital Project Funds:
Various Borough Projects
State Capital Grants
Enterprise Funds:
Municipal Solid Waste Collection and Disposal
Kodiak Fisheries Research Center
Component units:
School District
Receivable Payable
$ 1,335,028 $ 4,231,443
— 28,130
— 35,272
— 242,033
— 13,513
— 19,240
7,727,912 —
213,647 17,587
— 135,327
— 100,000
8,471,840
4,017,798 —
$ 13,294,385 $ 13,294,385
The Kodiak Fisheries Research Center Enterprise Fund borrowed $8 million from the Facilities Special
Revenue Fund. As of June 30, 2001, the outstanding principal amount owing was $7,595,000. See note 7
for additional information regarding the interfund borrowings.
Fund Deficits and Accumulated Deficits:
The fund deficits and accumulated deficits at June 30, 2001, are as follows:
Special Revenue Funds:
Coastal Management $ 147
Buildings and Grounds 247,747
Enterprise Fund:
Municipal Solid Waste Collection and Disposal 746,403
$ 994,297
Management intends to fund the Special Revenue Funds deficits in fiscal year 2001 through transfers from
other funds and fund the deficit in the Enterprise Fund through an increase in service charges.
Operating Transfers
Interfund operating transfers and transfers from the component unit have been made in accordance with
budget ordinances.
31
I �
I �
Funds are transferred from one fund to support expenditures of other funds in accordance with the
authority established for the individual fund. Transfers between fund types and component units during
the year ended June 30, 2001, were as follows:
Residual Equity Transfers
Effective July 1, 2000, the operations of the Mental Health Center Special Revenue Fund were transferred
to the General Fund. Accordingly, all assets and liabilities, including a fund deficit of $323,299, were
transferred as of July 1, 2000. The transfer of net assets out of the Mental Health Special Revenue Fund
and into the General Fund are shown as a residual equity transfer.
Excess of Expenditures /Expenses Over Appropriations /Budgets
General Fund
The following department expenditures exceeded their appropriations:
Department Excess
Borough attorney $ 74,337
Finance department 7,903
School district support 4,256
Building official 17,408
$ 103,904
Special Revenue Funds
The following funds' expenditures exceeded their appropriations:
Fund Excess
Coastal management $ 2,500
Kodiak Arts Council 828
$ 3,328
32
Transfers In
Special
Capital
School district
Transfers
General
revenue
Debt service
projects
component
Out
fund
funds
funds
funds
units
Fund Tvces
General Fund
$ 6,605,810
$ —
$ 29,130
$ 610,240
$ —
$ 5,966,440
Special Revenue Funds
788,061
—
92,000
394,315
301,746
—
Debt Service Funds
19,008
18,154
854
—
—
—
Enterprise Fund
KFRC
535,325
—
535,325
—
—
—
Hospital Facilities
191,030
—
—
191,030
—
—
Component unit
School District
1,634,092
—
—
1,634,092
—
—
Total transfers
$ 9,773,326
$ 18,154
$ 657,309
$ 2,829,677
$ 301,746
$ 5,966,440
Residual Equity Transfers
Effective July 1, 2000, the operations of the Mental Health Center Special Revenue Fund were transferred
to the General Fund. Accordingly, all assets and liabilities, including a fund deficit of $323,299, were
transferred as of July 1, 2000. The transfer of net assets out of the Mental Health Special Revenue Fund
and into the General Fund are shown as a residual equity transfer.
Excess of Expenditures /Expenses Over Appropriations /Budgets
General Fund
The following department expenditures exceeded their appropriations:
Department Excess
Borough attorney $ 74,337
Finance department 7,903
School district support 4,256
Building official 17,408
$ 103,904
Special Revenue Funds
The following funds' expenditures exceeded their appropriations:
Fund Excess
Coastal management $ 2,500
Kodiak Arts Council 828
$ 3,328
32
I �,
I �
Enterprise Funds
The following fund expenses exceeded its budget:
Fund
Municipal Solid Waste
Excess
$ 73,103
Proprietary Funds' reconciliation of contributed capital for the year ended June 30, 2001, is as
follows:
Enterprise Funds
Kodiak
fisheries
research Hospital
center facilities
Contributed capital at beginning and
end of year $ 215,486 $ 5,166,717
Proprietary Funds' reconciliation of contributions in aid of construction for the year ended
June 30, 2001, is as follows:
Enterprise Funds
Net contributions in aid of
construction at beginning of year
Amortization of contributions in aid
of construction
Net contributions in aid of
construction at end of year
Kodiak
Municipal
fisheries
solid waste
research
collection Hospital
center
and disposal facilities
$ 11,523,189 $ 2,508,351 $ 17,357,578
(397,351) (52,408) (598,537)
$ 11,125,838 $ 2,455,943 $ 16,759,041
(15) 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 for a number of years after closure. In addition to
operating expenses related to current activities of the landfill, an expense provision and related liability are
'
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 $2,122,151 as of June 30, 2001, which is based on 62 percent usage (filled) of the
a
landfill. The landfill is estimated to be filled and unusable by the year 2020. Of the total liability at
June 30, 2001, an increase of $55,393 was recorded in the current year based on current year usage and
changes in estimates. An estimated additional $1,292,849 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
33
, '
i
c�
capacity. The estimated total current cost of the landfill closure and postclosure care of $3,415,000 is
based on the amount that would be paid if the landfill were closed as of June 30, 2001. 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 complies with these
requirements by annually recording the liability based on the estimates provided by the Kodiak Island
Borough's Engineering/Facilities Director. 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.
' (16) Sale of Shuyak Island
The Borough entered into an agreement in December 1995 with the Exxon Valdez Oil Spill Trustee
' Council to sell all of its rights on Shuyak Island for $42 million to the State of Alaska. The Borough has
received $26,194,266 to date, and will receive the balance of the sale in the following payments:
' October 1,
2001 $ 4,000,000
2002 11,805,734
' Six million of the proceeds were used for the construction of the Kodiak Fisheries Research Center. The
remainder will be placed into a facility special revenue fund and used for future capital projects.
(17) Hospital and Mental Health Facilities
Hospital Facilities Enterprise Fund
The Kodiak Island Borough Assembly passed an ordinance to cease operations of the Kodiak Island
Hospital and Care Center, effective April 20, 1997, and to lease the hospital premise and equipment to
Sisters of Providence d.b.a: Providence Alaska Medical Center, who assumed responsibility for the
' hospital's operations as of April 21, 1997. The lease agreement is effective for a term of ten years from
that date and contains provisions for an additional ten -year option. The hospital fixed assets, the lease
income, and all other costs relating to the agreement are accounted for by the Borough in the Hospital
' Enterprise Fund.
Under the terms of the agreement, certain assets have been transferred to Providence and certain liabilities
' assumed by them. The Borough received a down payment of $2,000,000 at the execution of the lease. For
accounting purposes this down payment was recorded as consideration for the net assets and liabilities
transferred to /assumed by Providence.
' The agreement with Providence specifies that the Borough shall provide at least $150,000 per year for the
purchase of new and replacement equipment for the hospital. The Borough is also required to fund any
major maintenance and repairs projects exceeding $10,000 in cost. Additionally, the Borough receives 50
percent of the net revenues of the hospital, up to $600,000.
1
1 34
Should the Borough wish to terminate the lease agreement without cause, the Borough would be required
to refund the $2,000,000 down payment on the lease in proportion to the number of years remaining on the
ten -year term of the lease, at the rate of $200,000 per year for each remaining year. For accounting
purposes such payment would be considered to be a penalty for the early termination of the lease. '
(18) Contingencies
General '
The Borough, in the normal course of its activities, is involved in various claims and pending litigation.
After consultation with legal counsel, management estimates that these matters will be resolved without ,
material adverse effect on the Borough's future financial position or results of operations.
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 not be material. '
Litigation
On December 14, 2000, a judgment in the amount of $1.35 million was rendered against the Borough in ,
the matter involving alleged misconduct of a former Borough employee. The Borough has elected to
appeal the judgment. Although the ultimate outcome of the appeal is not presently determinable, it is the
opinion of the Borough legal counsel that resolution will not occur for at least twelve months. '
Accordingly, the Borough has recorded the judgment in the General Long -term Debt Account Group.
35 1
1
1
1
1
GENERAL FUND
1
The General Fund is used to account for resources traditionally
associated with government which are not required legally or by
sound financial management to be accounted for in any other fund.
Principal sources of revenue are property taxes and intergovern-
mental revenues. Primary expenditures are for general government
and public service.
1
1
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 intergovernmental revenues. Primary expenditures are for general government,
public services and debt service.
11
1E
Exhibit A -1 '
t
KODIAK ISLAND BOROUGH
General Fund '
Balance Sheets
June 30, 2001 and 2000
Assets
Equity in central treasury
Temporary investments
Accounts receivable
Due from State of Alaska
Due from other funds
Property taxes:
Delinquent taxes
Allowance for uncollectible delinquent taxes
Accrued interest
Total
0,111 •IIII:I;
$ 7,989 $ 650
4,039,690 2,983,700
245,960 302,839
45,890 173,353
1,335,028 745,074
347,523 300,700
(15,828) (15,829)
86,931 51,095
$ 6,093,183 $ 4,541,582
Liabilities and Fund Balances
Liabilities:
Accounts payable
Payroll taxes and employee benefits
Other accrued liabilities
Due to the City of Kodiak
Due to component units
Due to other funds
Total liabilities
Fund balances:
Unreserved
Designated for subsequent year expenditures
Undesignated
Total fund balances
Total
36
$ 108,598 $
86,436
41,199
48,475
270,243
261,240
22,022
21,879
4,017,798
2,528,819
213,645
452,218
4,673,505 3,399,067
— 341,900
1,419,678 800,615
1,419,678 1,142,515
$ 6,093,183 $ 4,541,582
Exhibit A -2
KODIAK ISLAND BOROUGH
General Fund
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year Ended June 30, 2001 (with comparative totals for 2000)
(Continued)
37
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes:
Real
$ 5,808,330" $
5,808,715
$ 385 $
5,329,052
Personal
1,096,540"
1,130,975
34,435
999,684
Motor vehicle
190,000'
178,783
(11,217)
183,479
Penalty and interest
160,000''
162,478
2,478
111,593
Total property taxes
7,254,870
7,280,951
26,081
6,623,808
Severance taxes:
Fish
850,000
791,234
(58,766)
1,051,378
Mining
10,000
6,980
(3,020)
11,450
Logging
95,620
56,019
(39,601)
112,822
Total severance taxes
955,620
854,233
(101,387)
1,175,650
Intergovernmental•
State sources:
State shared revenue
105,456'
112,492
7,036
119,821
Municipal assistance
108,670-
110,760
2,090
122,097
Raw fish tax
968,770'
1,006,948
38,178
833,981
Payments in lieu of taxes
28,000
18,731
(9,269)
21,161
Electric Co-op tax
12,000"
13,624
1,624
12,843
Miscellaneous
12,000
-
(12,000)
-
Total state sources
1,234,896
1,262,555
27,659
1,109,903
Federal sources:
Payments in lieu of taxes
450,000
473,737
23,737
448,310
Miscellaneous
350,200/
399,191
48,991
211,827
Total federal sources
800,200
872,928
72,728
660,137
Total intergovernmental
revenue
2,035,096
2,135,483
100,387
1,770,040
Licenses, permits, fees and other local
revenues:
Building and trailer permits
60,000
66,118
6,118
68,598
Subdivision and zoning fees
4,000-
4,966
966
4,300
Sale of copies
1,200-
20,594
19,394
19,399
Emergency medical services
-
-
-
-
Miscellaneous
36
48,396
12,306
36,567
Total licenses, permits, fees
and other local revenues
101,290
140,074
38,784
128,864
Investments and property:
Interest income
260,600/
583,633
323,033
358,352
Total investments and
property
260,600
583,633
323,033
358,352
Total revenues
10,607,476
10,994,374
386,898
10,056,714
(Continued)
37
Exhibit A -2
(Continued)
KODIAK ISLAND BOROUGH
General Fund
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year Ended June 30, 2001 (with comparative totals for 2000)
Expenditures:
Borough assembly
Borough manager
Borough clerk
Borough attorney
Finance department
Assessing department
Engineering/Facilities department
Community development department
Building official
Economic development
General and administration
Emergency preparedness
School District support
Health and sanitation department
Education, culture and recreation
Management information systems
Total expenditures
Excess of revenues over expenditures
Other Financing Sources (uses):
Operating transfers in from other funds
Operating transfers to other funds
Operating transfers to component unit
Total financing uses
Excess (deficiency) of revenues and
transfers in over (under) expenditures
and transfers out
Fund balances, at beginning of year
Residual equity transfer out -
Mental Health Center Fund
Fund balances, at end of year
i�
I I I
38 '
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ 142,000 $
137,000
$ 5,000 $
140,397
175,990
159,275
16,715
187,047
270,450
263,191
7,259
226,573
361,000"
435,337
(74,337)
197,868
381,680'
389,583
(7,903)
369,652
307,460'
288,958
18,502
279,320
131,700/
85,310
46,390
-
400,280/
377,374
22,906
304,706
112,500°
129,908
(17,408)
120,472
49,000-
38,000
11,000
37,755
108,598'
239,408
(130,810)
177,874
5,500''
3,002
2,498
2,791
589,990
594,246
(4,256)
596,143
285,732
223,422
62,310
279,109
155,784
148,351
7,433
161,500
213,645✓
293,891
(80,246)
329,266
3,691,309
3,806,256
(114,947)
3,410,473
6,916,167
7,188,118
271,951
6,646,241
-
18,154
18,154
21,746
(648,370)
(639,370)
9
(860,705)
(5,966,440)
(5,966,440)
-
(5,556,310)
(6,614,810)
(6,587,656)
27,154
(6,395,269)
$ 301,357
600,462
$ 299,105
250,972
1,142,515
783,459
(323,299)
108,084
$
1,419,678
$
1,142,515
i�
I I I
38 '
� I
I
KODIAK ISLAND BOROUGH
' General Fund
Schedule Of Expenditures And Transfers
' Budget And Actual
Year Ended June 30, 2001 (with comparative totals for 2000)
Expenditures:
Borough assembly:
Personnel services
Fringe benefits
Support goods and services
Political lobbyist
Total Borough assembly
Borough Manager's office:
Personnel services
Fringe benefits
Support goods and services
Allocated to projects
Total Borough Manager's office
Borough clerk:
Personnel services
Fringe benefits
Support goods and services
Total Borough clerk
Borough attorney:
Legal fees
Support goods and services
Total Borough attorney
Finance department:
Personnel services
Fringe benefits
Support goods and services
Capital outlay
Allocated to projects
Total Finance department
Exhibit A -3
(Continued)
39
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ 21,600 $
20,800
$ 800 $
21,600
2,400
2,250
150
3,322
58,000
51,950
6,050
52,475
60,000
62,000
(2,000)
63,000
142,000
137,000
5
140,397
118,330
111,806
6,524
115,344
31,630
23,303
8,327
33,228
31,030
29,166
1,864
38,475
(5,000)
(5,000)
-
-
175,990"
159,275
16,715
187,047
144,790
132,604
12,186
123,994
30,140
32,346
(2,206)
32,392
95,520
98,241
(2,721)
70,187
270,450 '
263,191
7,259
226,573
300,000
411,683
(111,683)
129,506
61,000
23,654
37,346
68,362
361,000
435,337
(74,337)
197,868
354,610
353,567
1,043
344,724
88,200
92,121
(3,921)
95,846
65,610
73,635
(8,025)
59,937
3,000
-
3,000
-
(129,740)
(129,740)
-
(130,855)
381,680'
389,583
(7,903)
369,652
(Continued)
39
Exhibit A -3
KODIAK ISLAND BOROUGH
General Fund
Schedule Of Expenditures And Transfers
Budget And Actual
Year Ended June 30, 2001 (with comparative totals for 2000)
Assessing department:
Personnel services
Fringe benefits
Support goods and services
Capital outlay
Allocated to projects
Total Assessing department
Engineering/Facilities department
Personnel services
Fringe benefits
Contracted services
Support goods and services
Capital outlay
Allocated to projects
Total Engineering/Facilities
department
Community development department:
Personnel services
Fringe benefits
Contracted services
Support goods and services
Capital outlay
Allocated to projects
Total Community
development department
Building official:
Contracted services
Support goods and services
Total Building official
Economic development:
General services:
Contracted Services
Contributions:
Kodiak Chamber of Commerce
Total Economic development
(Continued)
40 ,
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ 213,270 $
201,768
$ 11,502 $
212,864
54,300
50,119
4,181
59,824
39,390
37,071
2,319
26,497
500
-
500
2,355
-
-
-
(22,220)
307,460
288,958
18,502
279,320
106,120
55,254
50,866
-
34,520
13,442
21,078
-
15,000
751
14,249
-
65,060
55,863
9,197
-
1,000
-
1,000
-
(90,000)
(40,000)
(50,000)
-
131,700
85,310
46,390
-
288,230
270,851
17,379
239,831
79,030
67,619
11,411
65,392
-
-
-
(468)
48,020
54,755
(6,735)
40,219
(15,000)
(15,851)
851
(40,268)
400,280
377,374
22,906
304,706
107,500
124,606
(17,106)
115,770
5,000
5,302
(302)
4,702
112,500
129,908
(17,408)
120,472
16,000
5,000
11,000
4,755
33,000
33,000
-
33,000
49,000
38,000
11,000
37,755
(Continued)
40 ,
KODIAK ISLAND BOROUGH
General Fund
Schedule Of Expenditures And Transfers
Budget And Actual
Year Ended June 30, 2001 (with comparative totals for 2000)
General and administration:
Personnel services
Fringe benefits
Professional fees
Support goods and services
Total General and administration
Emergency preparedness:
Support goods and services
Total Emergency preparedness
School District support:
Data processing
Mental health services
Audit expense
Support goods and services
Total School District support
Health and sanitation department:
Emergency Medical Services
Animal Control
Mental Health Center
Council on Alcoholism
State Health Services Villages
State Health Services KANA
Women's Resource Crisis Center
American Red Cross
Kodiak Baptist Mission
Special Olympics
Health Center Support
Senior Citizen Support
Kodiak Respite Care
The Salvation Army
Brother Francis Shelter
Ambulance Service
Total Health and sanitation
department
Exhibit A -3
(Continued)
41
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ - $
1,936
45,310
45,428
(118)
13,881
115,000
117,408
(2,408)
78,462
123,980
76,572
47,408
83,595
284,290
239,408
44,882
177,874
5,500
3,002
2,498
2,791
5,500
3,002
2,498
2,791
126,645
126,645
-
121,409
381,345
381,345
-
381,345
37,000
49,339
(12,339)
49,039
45,000
36,917
8,083
44,350
589,990
594,246
(4,256)
596,143
-
-
-
15
52,000
52,000
-
52,000
-
4,788
(4,788)
28,809
28,816
(7)
29,802
7,662
6,385
1,277
9,342
2,554
2,554
-
1,420
36,807
36,807
-
28,164
1,750
1,750
-
1,750
17,446
17,446
-
18,752
7,000
7,000
-
7,000
4,500
3,672
828
3,364
24,704
24,704
-
25,000
5,000
5,000
-
5,000
7,500
7,500
-
7,500
25,000
25,000
-
25,000
65,000
-
65,000
65,000
285,732
223,422
62,310
279,109
(Continued)
41
1
Exhibit A -3
KODIAK ISLAND BOROUGH
General Fund
Schedule Of Expenditures And Transfers
Budget And Actual
Year Ended June 30, 2001 (with comparative totals for 2000)
(Continued)
42 ,
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Education, culture and recreation:
KMXT Public Radio
$ 7,500 $
7,500
$ - $
7,500
Historical Society
4,968
4,968
-
5,000
Summer Basketball
5,000
5,000
-
5,000
Kodiak Art Council
15,000
15,000
-
15,000
Village Libraries
15,000
15,000
-
16,500
Chiniak Public Library
3,000
3,000
-
3,000
City of Kodiak Library
3,000
3,000
-
3,000
Head Start
7,583
7,583
-
8,000
Kodiak College
60,000
60,000
-
60,000
Kodiak Little League
5,000
5,000
-
5,000
Santa to the Villages
2,300
2,300
-
2,300
Karluk IRA Council
-
-
-
8,200
KANA Youth Olympics
2,000
2,000
-
2,000
KANA Family Center
12,000
12,000
-
12,000
Kodiak Youth Services Network
5,000
5,000
-
5,000
Kodiak Football League
-
-
-
3,000
Girl Scouts
1,000
1,000
-
1
Non - profit organizations
7,433
-
7,433
-
Total Education, culture
and recreation
155,784
148,351
7,433
161,500
Management information systems:
Personnel services
222,860
186,812
36,048
256,726
Fringe benefits
61,600
49,925
11,675
70,189
Support goods and services
221,745
203,207
18,538
128,854
Capital outlay
45,000
10,092
34,908
40,522
Allocated to projects
(156,145)
(156,145)
-
(167,025)
Total Management
information systems
395,060
293,891
101,169
329,266
Total expenditures
3,916,716
3,806,256
195,770
3,410,473
(Continued)
42 ,
Exhibit A -3
KODIAK ISLAND BOROUGH
General Fund
Schedule Of Expenditures And Transfers
Budget And Actual
Year Ended June 30, 2001 (with comparative totals for 2000)
43
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Other Financing Sources (uses):
Operating transfers in from debt service
fund
$ — $
18,154
$ 18,154 $
21,746
Operating transfers out to other funds:
Special Revenue Funds:
Building and Grounds
(29,130)
(29,130)
—
(27,770)
Debt Service Funds:
Schools
(610,240)
(610,240)
—
(777,030)
Other
(9,000)
—
9,000
(33,905)
Capital Projects Funds:
Various Borough projects
—
—
—
(22,000)
Operating transfers to component units:
Kodiak Island Borough School District
(5,966,440)
(5,966,440)
—
(5,556,310)
Total financing uses
(6,614,810)
(6,587,656)
27,154
(6,395,269)
Total expenditures and transfers
$ 10,531,526 $
10,393,912
$ 222,924 $
9,805,742
43
1
1
1
[1
L��
1
IF]
L
1
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.
SPECIAL REVENUE FUNDS
The Fire Protection Area No. 1 Fund accounts for the activities related to fire suppression and fire prevention
services to the citizens of the service area.
The Womens Bay Fire Department Fund accounts for the activities related to fire suppression and fire
prevention services to the citizens of the service area.
The Kodiak Airport Fire District Fund accounts for the activities related to fire suppression and fire
prevention services to the citizens of the service area.
The Monashka Bay Road Service Area Fund accounts for the activities related to road services within the
service area.
The Service District No. 1 Fund accounts for the activities related to maintenance service to roads within the
district, including snow removal, ditching and grading.
The Womens Bay Service Area Fund accounts for the activities related to maintenance service to roads within
the service area, including snow and ice removal, ditching and culvert work.
The Bay View Road Service Area Fund accounts for the activities related to road services within the service
area.
The Service Area No. 2 Fund accounts for the activities related to water and sewer services in the service area.
This fund is in the design stage at present.
The Mental Health Center Fund accounts for rents and expenses on the Borough owned mental health center.
The center is leased by Sisters of Providence in Washington d.b.a. Providence Health Systems in Alaska.
The Coastal Management Fund accounts for State of Alaska and Federal grants related to the effects of coastal
energy development impacts. Expenditures of these grants are for comprehensive plans, coastal sensitivity
analysis, outer continental shelf impact analysis, ordinance update, and planning and zoning.
The Childcare Assistance Fund accounts for a State of Alaska grant to finance day care for children of low -
income employed families.
The Welfare to Work Fund accounts for pass through grant monies for local agencies to help individuals
become part of the work force.
The Local Emergency Planning Committee Fund accounts for State of Alaska grants provided for regional
emergency preparation, response, and mitigation planning.
The Land Sales Fund accounts for the disposal of Borough -owned lands. The proceeds of land disposals are
generally used for the management of Borough lands and the repairs and maintenance of Borough school
buildings.
The Building and Grounds Fund accounts for the operations and maintenance of certain buildings and grounds
owned by the Borough which are jointly shared with the City of Kodiak, the Kodiak Island Borough School
District, the State of Alaska, and certain non - profit community organizations.
SPECIAL REVENUE FUNDS
The Woodland Acres Street Light Service Area Fund accounts for activities related to the provision of street
lighting within the service area.
The Kodiak Arts Council Fund accounts for activities related to the facilitation of the arts in the Kodiak
community.
The Facilities Fund accounts for the proceeds from the sale of Shuyak Island. The single most important goal is
to preserve the principal of the fund. Interest earnings, after inflation proofing, can be used for debt service and
insurance on buildings.
The Tourism Development Fund accounts for the collection of the Borough Transient Accommodation Tax
(Bed Tax) and its subsequent transfer to the Kodiak Island Convention and Visitor Bureau.
The Kodiak Transit Authority Fund accounts for the operation of a local bus system. A local contractor
operates two buses within the Kodiak metropolitan area. This fund was closed in fiscal year 2000.
KODIAK ISLAND BOROUGH
Special Revenue Funds
Combining Balance Sheet
June 30, 2001 (with comparative totals for 2000)
Fire and Road Service Areas
See accompanying notes to financial statements.
44 1
Fire
Road
Fire
Womens
Kodiak
Monashka
Protection
Bay Fire
Airport Fire
Bay Road
Service
Assets
Area No.1
Department
District
Service Area
District No.1
Equity in central treasury
$
324,108
$
198,261
$ 32,281
$
61,175
$
248,470
Temporary investments
498,400
-
-
-
-
Receivables:
State of Alaska
-
-
-
-
-
Federal Government
-
-
-
-
-
Land sales contracts, due within one year
-
-
-
-
-
Accrued interest
-
-
-
-
-
Other
5,909
3,029
1,756
210
2,786
Allowance for doubtful receivables
-
-
-
-
-
Due from other funds
-
-
-
-
-
Frepaid expenditures
-
-
-
-
-
Long -term interfund advances
-
-
-
-
-
Land sale contracts, due after one year
-
-
-
-
-
Total
$
828,417
$
201,290
$ 34,037
$
61,385
$
251,256
Liabilities and Fund Balances
Liabilities:
Accounts payable
$
8,253
$
1,027
$ -
$
-
$
22,196
Employee benefits accrued and withheld
883
-
-
-
-
Customer deposits
-
125
-
-
-
Deferred revenues
-
-
-
-
-
Due to other funds
-
-
-
-
-
Total liabilities
9,136
1,152
-
-
22,196
Fund Balancs (deficits):
Reserved:
Long -tern interfund advances
-
-
-
-
-
Unreserved:
Designated for subsequent year expenditures
54,400
-
-
-
62,150
Undesignated
764,881
200,138
34,037
61,385
166,910
Total fund balances (deficits)
819,281
200,138
34,037
61,385
229,060
Totals
$
828,417
$
201,290
$ 34,037
$
61,385
$
251,256
See accompanying notes to financial statements.
44 1
Exhibit B -1
(Continued)
45
Federal and State Grant Programs
Child Care
Women Bay
Bay View Road
Service Area
Coastal
Assistance
Welfare to
Service Area
Service Area
No. 2
Management
Program
Work Program
L.E.P.0
$ 201,763
$
3,254
$ 3,898
$
-
$ -
$ -
$ -
-
-
-
13,725
79,772
15,394
19,500
-
-
-
-
-
36,819
-
3,815
87
-
-
-
-
-
$
$
$ 79,772
$ 52,213
$ 19,500
$ 205,578
3,341
$ 3,898
13,725
$ 20,073
$
-
$ -
$
359
$ 37,975
$ 16,941
$ 260
-
-
-
13,513
28,130
35,272
19,240
20,073
-
-
13,872
66,105
52,213
19,500
185,505
3,341
3,898
(147)
13,667
-
-
185,505
3,341
3,898
(147)
13,667
-
-
$ 205,578
$
3,341
$ 3,898
$
13,725
$ 79,772
$ 52,213
$ 19,500
(Continued)
45
1
I I
KODIAK ISLAND BOROUGH
Special Revenue Fund
Combining Balance Sheet
June 30, 2001 (with comparative totals for 2000)
Woodland
Acres Street
E
Buildings and
Light Service
Kodiak Arts
Assets
Land Sales
Grounds
Area
Council
Facilities
Equity in central treasury
$
201,089
$
—
$ 39,065
$
—
$
76,604
Temporary investments
—
—
—
—
13,859,612
Receivables:
,
State of Alaska
—
—
—
—
—
Federal Government
—
—
—
—
—
Land sales contracts, due within one year
42,048
—
—
—
—
Accrued interest
—
—
—
—
—
Other
(484)
5,800
2
63
143,507
'
Allowance for doubtful receivables
—
—
—
—
—
Due from other funds
—
—
—
—
357,912
Prepaid expenditures
—
—
—
—
—
Long-term interfund advances
—
—
—
—
7,370,000
'
Land sale contracts, due after one year
—
—
—
—
—
Total
$
242,653
$
5,800
$ 39,067
$
63
$
21,807,635
Liabilities and Fund Balances
L
Liabilities:
Accounts payable
$
—
$
12,114
$ 453
i
Employee benefits accrued and withheld
—
(600)
—
Customer deposits
—
—
—
—
—
Deferred revenues
42,048
—
—
—
—
Due to other funds
—
242,033
—
—
Total liabilities
42,048
253,547
453
Fund Balances (deficits):
Reserved:
Long -term interfund advances
—
—
—
—
7,370,000
Unreserved:
Designated for subsequent year expenditures
55,250
—
7,000
—
—
Undesignated
145,355
(247,747)
31,614
63
14,437,635
Total fund balances (deficits)
200,605
(247,747)
38,614
63
21,807,635
Total
$
242,653
$
5,800
$ 39,067
$
63
$
21,807,635
'
z
1;
i
46
i
'
Exhibit B -1
(Continued)
Tourism
Totals
Development
2001
2000
$ 9,765
$ 1,399,733
$
1,088,574
—
14,358,012
9,115,342
—
128,391
138,498
—
36,819
16,027
—
42,048
58,364
—
—
72,582
15,580
182,060
126,002
—
—
(61,284)
—
357,912
1,012,590
—
—
8,164
—
7,370,000
7,595,000
—
—
84,151
$ 25,345
$ 23,874,975
$
19,254,010
$ —
$ 119,651
$
83,186
—
283
118
400
525
650
—
42,048
173,052
—
338,188
810,043
400
500,695
1,067,049
—
7,370,000
7,595,000
—
178,800
35,150
24,945
15,825,480
10,556,811
24,945
23,374,280
18,186,961
$ 25,345
$ 23,874,975
$
19,254,010
47
KODIAK ISLAND BOROUGH
Special Revenue Funds
Combining Statement of Revenues, Expenditures, Transfers
and changes in fund balances (Accumulated Deficits)
Juste 30, 2001 (with comparative totals for 2000)
See accompanying notes to financial statements.
I �
48 1 t
Fire and Road Service Areas
Fire
Road
Fire
Womens
Kodiak
Monashka
Protection
Bay Fire
Airport Fire
Bay Road
Service
Womens Bay
Area No. 1
Department
District
Service Area
District No.1
Service Area
Revenues:
Property taxes
$ 279,146
$ 52,899 $
13,995
$ 22,338
$ 124,293
S 80,956
State sources
9,844
259
-
886
4,400
4,821
Federal sources
-
-
-
-
-
-
Land sale proceeds
-
-
-
-
-
-
Licenses, permits, fees
and other local revenues
-
-
-
-
-
20,000
investments and property
49,403
11,366
1,906
3,258
14,039
11,231
Other
4,979
7,870
Total revenues
343,372
72,394
15,901
26,482
142,732
117,008
Expenditures:
Community development department
-
-
-
-
-
-
General and administration
162,483
46,016
14,270
10,380
99,930
102,375
Health and sanitation department
-
-
-
-
-
-
Capital outlay:
Services district maintenance
14,306
Total expenditures
162,483
60,322
14,270
10,380
99,930
102,375
Excess (deficiency) of revenues
over(under)expenditures
180,889
12,072
1,631
16,102
42,802
14,633
Other Financing Sources (uses):
Operating transfers in from other funds
-
-
-
-
-
-
Operating transfers out to other funds
(985)
-
-
-
-
Net other financing
sources (uses)
(985)
-
-
-
-
-
Excess (deficiency) of revenues and
other financing sources over (under)
expenditures and other financing uses
179,904
12,072
1,631
16,102
42,802
14,633
Fund balances (accumulated
deficits), at beginning of year
639,377
188,066
32,406
45,283
186,258
170,872
Residual equity transfers in (out)
-
-
-
-
-
-
Fund balances (accumulated
deficits), at end of year
$ 8819,281
$ 200,138 $
34,037
$ 61,385
$ 229,060
$ 185,505
See accompanying notes to financial statements.
I �
48 1 t
Exhibit B•2
49
Federal and State Grant Programs
Child Care
Welfare
Bay View Road
Service Area
Mental Health
Coastal
Assistance
to Work
Buildings and
Service Area
No. 2
Center
Management
Program
Program
L.E.P.C.
Land Saks
Grounds
$ 5,034 $
-
$ -
$ - $
-
$ - $
-
$ -
$ -
371
-
-
28,440
463,388
134,969
19,500
-
-
-
-
-
-
-
40,792
-
-
-
-
-
-
-
-
-
-
112,128
-
-
-
-
-
-
-
-
17,406
-
242
203
-
-
-
-
-
-
359,253
5,647
203
28,440
463,388
175,761
19,500
129,534
359,253
-
-
-
28,440
-
-
-
-
-
4,560
2
-
-
-
175,761
19,500
100,368
422,657
-
-
-
-
463,388
-
-
-
-
4,560
2
28,440
463,388
175,761
19,500
100,368
422,657
1,087
201
-
29,166
(63,404)
-
-
-
-
-
-
-
-
121,984
121,984
1,087
201
-
-
-
-
-
29,166
58,580
2,254
3,697
(323,299)
(147)
13,667
-
-
171,439
(306,327)
323,299
S 3,341 8,8998
S -
$ (147) $
13,667
$ - S
S 200,605
S (2
(Continued)
49
Exhibit B -2 a
(Continued
KODIAK ISLAND BOROUGH
Special Revenue Funds
Combining Statement of Revenues, Expenditures, Transfers
and changes in fund balances (Accumulated Deficits)
June 30, 2001 (with comparative totals for 2000)
I �
50 1
Woodland
Acres Street
Light Service
Kodiak Arts
Tourism
Totals
Area
Council
Facilities
Development
2001
2000
Revenues:
Property taxes
$ - $
-
S - S
-
S 578,661 $
487,853
State sources
-
-
-
-
666,878
963,227
Federal sources
-
-
-
-
40,792
32,291
Land sale proceeds
-
-
4,000,000
-
4,112,128
4,319,461
Licenses, permits, fees
and other local revenues
-
52,465
-
42,511
132,382
240,042
Investments and property
2,181
-
758,307
67
1,211,456
765,658
Other
12,849
6,623
Total revenues
2,181
52,465
4,758,307
42,578
6,755,146
6,815,155
Expenditures:
Community development department
-
-
-
37,917
66,357
63,594
General and administration
5,473
52,548
-
-
1,216,323
1,354,049
Health and sanitation department
-
-
-
-
463,388
479,029
Capital outlay:
Services district maintenance
14,306
213,485
Total expenditures
5,473
52,548
-
37,917
1,760,374
2,110,157
Excess (deficiency) of revenues
over(under)expenditures
(3,292)
(83)
4,758,307
4,661
4,994,772
4,704,998
Other financing sources (uses):
Operating transfer: in from other funds
-
-
535,325
-
657,309
682,044
Operating transfers out to other funds
-
-
(787,076)
-
(788,061)
(581,419)
Net other financing
sources (uses)
(251,751)
(130,752)
100425
Excess (deficiency) of revenues and
other financing sources over (under)
expenditures and other financing uses
(3,292)
(83)
4,506,556
4,661
4,864,020
4,805,623
Fund balances (accumulated
deficits), at beginning of year
41,906
146
17,301,079
20,284
18,186,961
13,381,338
Residual equity transfers in (out)
-
-
-
-
323,299
-
Fund balances (accumulated
deficits), at end of year
$ 38,614 $
63
$ 21,807,635 $
24,945
$ 23,374,280 $
18,186,961
I �
50 1
Exhibit B -3
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas - Fire Protection Area No. l
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
Property taxes
State sources
Licenses, permits, fees and other
local revenues
Investments and property
Total revenues
Expenditures:
General and administration:
Fire chief
Volunteers
Fringe benefits
Contracted services
Support goods and services
Capital outlay
Depreciation
Total expenditures
Excess of revenues over expenditures
Other financing uses:
Operating transfers out to other funds:
Debt Service Funds
Total other financing uses
Excess of revenues over expenditures
Fund balances, at beginning of year
Fund balances, at end of year
See accompanying notes to financial statements.
51
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ 252,000 $
279,146
$ 27,146 $
252,645
5,500
9,844
4,344
13,386
15,000
4,979
-
4,859
-
49,403
49,403
36,261
272,500
343,372
80,893
307,151
65,000
56,541
8,459
50,432
15,000
9,185
5,815
4,840
25,500
11,288
14,212
13,218
19,000
578
18,422
1,680
98,000
84,891
13,109
61,793
25,000
-
25,000
10,719
25,000
-
25,000
-
272,500
162,483
110,017
142,682
-
180,889
190,910
164,469
-
(985)
-
(1,616)
-
(985)
-
(1,616)
$ -
179,904
$ 190,910
162,853
639,377
476,524
$
819,281
$
639,377
51
Exhibit B -4 '
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas - Womens Bay Fire Department
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
Property taxes
State sources
Licenses, permits, fees and
other local revenues
Investments and property
Total revenues
Expenditures:
General and administration:
Personnel services
Fringe benefits
Professional services
Support goods and services
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources:
Operating transfers in from other funds:
Special revenue funds
Excess of revenues and other
financing sources over expenditures
Fund balances, at beginning of year
Fund balances, at end of year
52 1
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ 48,470 $
52,899
$ 4,429 $
49,897
250
259
9
416
9,000
7,870
(1,130)
8,267
3,000
11,366
8,366
9,979
60,720
72,394
11,674
68,559
1,700
931
769
39
3,000
-
3,000
-
2,500
1,701
799
-
49,820
43,384
6,436
25,449
18,200
14,306
3,894
6,487
75,220
60,322
14,898
31,975
(14,500)
12,072
26,572
36,584
-
-
-
600
$ (14,500)
12,072
$ 26,572
37,184
188,066
150,882
$
200,138
$
188,066
52 1
Exhibit B -5
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas – Kodiak Airport Fire District
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
53
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes
$ 27,910 $
13,995
$ (13,915) $
28,483
Investments and property
100
1,906
1,806
1,129
Total revenues
28,010
15,901
(12,109)
29,612
Expenditures:
General and administration:
Contracted services
27,890
14,181
13,709
15,139
Support goods and services
120
89
31
79
Total expenditures
28,010
14,270
13,740
15,218
Excess of revenues over expenditures
$ —
1,631
$ (25,849)
14,394
Fund balances, at beginning of year
32,406
18,012
Fund balances, at end of year
$
34,037
$
32,406
53
Exhibit B -6
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas - Monashka Bay Road Service Area
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
54
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes
$ 19,690 $
22,338
$ 2,648 $
21,499
State sources - shared revenue
1,410
886
(524)
1,243
Investments and property
2,300
3,258
958
2,749
Total revenues
23,400
26,482
3,082
25,491
Expenditures:
Capital outlay:
Service district maintenance:
Personnel services
500
-
500
-
Snow removal/sanding
12,000
3,996
8,004
12,777
Road grading/ditching
17,084
6,303
10,781
10,258
Repairs and maintenance
1,500
-
1,500
730
Support goods and services
900
81
819
72
Total expenditures
31,984
10,380
20,785
23,837
Excess of revenues over expenditures
$ (8,584)
16,102
$ 23,867
1,654
Fund balances, at beginning of year
45,283
43,629
Fund balances, at end of year
$
61,385
$
45,283
54
Exhibit B -7
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas - Service District No. l
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
55
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
Property taxes
$ 108,000 $
124,293
$ 16,293 $
54,118
State sources
7,000
4,400
(2,600)
5,261
Investments and property
8,000
14,039
6,039
11,952
Total revenues
123,000
142,732
19,732
71,331
Expenditures:
Capital outlay:
Service district maintenance:
Personnel services
4,150
3,408
742
3,432
Snow removal/sanding
65,000
16,415
48,585
22,532
Road grading/ditching
30,000
44,329
(14,329)
46,618
Repairs and maintenance
50,000
35,131
14,869
30,413
Support goods and services
2,000
647
1,353
2,251
Total expenditures
151,150
99,930
49,867
105,246
Excess of revenues over expenditures
$ (28,150)
42,802
$ 69,599
(33,915)
Fund balances, at beginning of year
186,258
220,173
Fund balances, at end of year
$
229,060
$
186,258
55
Exhibit B -8 ' f
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas - Womens' Bay Service Areas
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
Property taxes
State sources - shared revenue
Licenses, permits, fees and other
local revenues
Investments and property
Total revenues
Expenditures:
Capital outlay:
Service district maintenance:
Personnel services
Snow removal/sanding
Road grading/ditching
Repairs and maintenance
Support goods and services
Total expenditures
Other financing uses:
Operating transfers out to other funds:
Womens Bay Fire Department
Excess of revenues over expenditures
Fund balances, at beginning of year
Fund balances, at end of year
- - - (600)
a k:)U,000) 14,633 $ 64,633 32,571
170,872 138,301
$ 185,505 $ 170,872
3,430
2001
3,430
-
30,000
12,701
Variance -
50,647
23,000
13,459
favorable
2000
Budget
Actual
(unfavorable)
Actual
21,100
865
$ 73,900 $
80,956
$ 7,056 $
76,153
4,260
4,821
561
5,875
20,000
20,000
-
20,000
5,280
11,231
5,951
10,537
103,440
117,008
13,568
112,565
3,430
-
3,430
-
30,000
12,701
17,299
50,647
23,000
13,459
9,541
10,193
75,910
75,350
560
18,200
21,100
865
20,235
354
153,440
102,375
51,065
79,394
56
Exhibit B -9
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas – Bay View Road Service Area
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Buget and Actual
Year ended June, 30, 2001 (with comparative totals for 2000)
2001
Revenues:
Property taxes
State sources – shared revenue
Investments and property
Total revenues
Expenditures:
Capital outlay:
Service district maintenance:
Snow removal/sanding
Road grading/ditching
Repairs and maintenance
Support goods and services
Total expenditures
Excess of revenues over expensitures
Fund balances, at beginning of year
Fund balances, at end of year
2,500
879
Variance-
1,970
1,841
129
favorable
2000
Budget
Actual
(unfavorable)
Actual
5,470
4,560
910
$ 4,600 $
5,034
$ 434 $
5,058
670
371
(299)
447
200
242
42
221
5,470
5,647
177
5,726
2,500
879
1,621
1,970
1,841
129
1,000
1,823
(823)
—
17
(17)
5,470
4,560
910
$ —
1,087 $
1,087
2,254
$
3,341
3,921
1,072
J,WO
718
1,536
$ 2,254
57
Exhibit B -10
KODIAK ISLAND BOROUGH
Special Revenue Funds
Fire and Road Service Areas – Service Area No. 2
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
2001
Revenues:
Investments and property
Expenditures:
Capital outlay:
Service district maintenance
Excess of revenues
over expenditures
Fund balances, at beginning of year
Fund balances, at end of year
Variance-
favorable
Budget Actual (unfavorable)
$ 200 $ 203 $ 3 $
200 2 198
2000
200
$ — 201 $ 201 200
3,697 3,497
$ 3,898 $ 3,697
58
Exhibit B -11
KODIAK ISLAND BOROUGH
Special Revenue Funds
Mental Health Center
Statement of Revenues, Expenditures, Transfers and Changes in Fund Deficits
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
2001
Variance-
favorable 2000
Budget Actual (unfavorable) Actual
Revenues:
Licenses, permits, fees and other local revenues:
Net individual and organization user fees $ — $ — $ — $ (150)
Other — — — 2,592
Total revenues — — — 2.442
Expenditures:
Health and sanitation department:
Mental health program:
Other
Total expenditures
Excess of revenues over expenditures
Fund deficits, at beginning of year
Residual equity transfer from General Fund
Fund deficits, at end of year
a —
(777)
(777)
$ — 3,219
(323,299) (326,518)
323,299 —
$ — $ (323,299)
59
Exhibit B -12
KODIAK ISLAND BOROUGH
Special Revenue Funds
Coastal Management
Statement of Revenues, Expenditures, Transfers and Changes in Fund Deficits
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
.1
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
State sources – grants
$ 25,940 $
28,440
$ 2,500 $
25,670
Total revenues
25,940
28,440
2,500
25,670
Expenditures:
Community development department:
Planning and zoning
25,940
28,440
(2,500)
25,670
Total expenditures
25,940
28,440
(2,500)
25,670
Excess of revenues over
$ —
—
$ —
—
Fund deficits, at beginning of year
(147)
(147)
Fund deficits, at end of year
$
(147)
$
(147)
.1
Exhibit B -13
KODIAK ISLAND BOROUGH
Special Revenue Funds
Child Care Assistance Program
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
61
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
State sources – grants
$ 540,049 $
463,388
$ (76,661) $
479,806
Other
—
—
—
4,031
Total revenues
540,049
463,388
(76,661)
483,837
Expenditures:
Health and sanitation department:
Personnel
56,670
55,307
(1,363)
54,253
Professional services
464,194
396,384
(67,810)
410,528
Support goods and services
19,185
11,697
7,488
15,025
Total expenditures
540,049
463,388
(61,685)
479,806
Excess of revenues over expenditures
$ —
—
$ (138,346)
4,031
Fund balances, at beginning of year
13,667
9,636
Fund balances, at end of year
$
13,667
$
13,667
61
Exhibit B -14
KODIAK ISLAND BOROUGH
Special Revenue Funds
Welfare to Work Program
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
62
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Rrevenues:
State sources – grants
$ 109,500 $
134,969
$ 25,469 $
145,755
Federal sources – grants
107,783
40,792
(66,991)
16,028
Total revenues
217,283
175,761
(41,522)
161,783
Expenditures:
General and administration:
Personnel services
12,842
4,740
8,102
16,997
Professional services
200,644
169,829
30,815
141,674
Support goods and services
3,797
1,192
2,605
3,112
Total expenditures
217,283
175,761
41,522
161,783
Excess of revenues over expenditures
$ —
—
$ —
—
Fund balances, at beginning of year
—
—
Fund balances, at end of year
$
—
$
—
62
Exhibit B -15
KODIAK ISLAND BOROUGH
Special Revenue Funds
L.E.P.0
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
State sources:
L.E.P.C. grant
Total revenues
Expenditures:
General administration:
Personnel services
Contracted services
Support goods and services
Total expenditures
(Deficiency) excess of revenues (under)
over expenditures
Fund balances, at beginning of year
Fund balances, at end of year
2001
Variance-
favorable 2000
Budget Actual (unfavorable) Actual
$ 19,500 $ 19,500 $ — $ 30,600
19,500 19,500 — 30,600
— — — 2,178
19,500 16,877 2,623 25,942
— 2,623 (2,623) 2,481
19,500 19,500 — 30,601
$ — — $ — (1)
—
63
i
F
Exhibit B -16 '
KODIAK ISLAND BOROUGH
Special Revenue Funds
Land Sales
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balance (Deficit)
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
64 1
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
Land sale proceeds
$ 110,800 $
112,128
$ 1,328 $
319,461
Licenses, permits, fees and other
local revenues
1,000
1,000
-
-
Gravel sales
45,000
16,406
(28,594)
30,000
Other
-
-
-
27,555
Total revenues
156,800
129,534
(27,266)
377,016
Expenditures:
General and administration:
Personnel services
40,000
40,000
-
87,599
Contracted services
47,000
36,160
10,840
13,295
Support goods and services
69,800
24,208
45,592
27,519
Capital outlay
-
-
-
38,992
Total expenditures
156,800
100,368
56,432
167,405
Excess of revenues over expenditures
$ -
29,166
$ 29,166
209,611
Fund balance (deficit), at beginning of year
171,439
(38,172)
Fund balances, at end of year
$
200,605
$
171,439
64 1
� I
Exhibit B -17
KODIAK ISLAND BOROUGH
' Special Revenue Funds
Buildings and Grounds
' Statement of Revenues, Expenditures, Transfers and Changes in Fund Deficits
j Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
Investments and property:
Rental
Total revenues
Expenditures:
General and administration:
Engineering facilities
School buildings
Borough building
Apartments
Parks operation and maintenance
Total expenditures
Deficiency of revenues
under expenditures
Other financing sources:
Operating transfers in from other funds:
General Fund
Facilities Fund
Debt Service Fund Other
Net other financing sources
Excess (deficiency) of revenues and other
financing sources over (under) expenditures
Fund deficits, at beginning of year
Fund deficits, at end of year
29,130 29,130 -
92,000 92,000 -
1Ll,l�u 1L1,Y54 ?04
$ - 58,580 $ (56
(306,327)
$ (247,747)
27,770
100,000
3,911
131,681
(216,584)
(89,743)
$ (306,327)
65
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ 351,640 $
359,253
$ 7,613 $
314,017
351,640
359,253
7,613
314,017
-
-
-
183,337
114,000
89,650
24,350
178,315
328,220
304,984
23,236
268,435
-
3,389
(3,389)
3,008
30,550
24,634
5,916
29,187
472,770
422,657
50,113
662,282
(121,130)
(63,404)
(57,726)
(348,265)
29,130 29,130 -
92,000 92,000 -
1Ll,l�u 1L1,Y54 ?04
$ - 58,580 $ (56
(306,327)
$ (247,747)
27,770
100,000
3,911
131,681
(216,584)
(89,743)
$ (306,327)
65
Exhibit B -18
KODIAK ISLAND BOROUGH
Special Revenue Funds
Woodland Acres Street Light Service Area
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
66
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
State sources – shared revenue
$ — $
—
$ — $
54
Investments and property
2,000
2,181
181
2,403
Total revenues
2,000
2,181
181
2,457
Expenditures:
General and administration:
Support goods and services
6,000
5,473
527
5,098
Capital outlay
3,000
—
3,000
—
Total expenditures
9
5,473
3,527
5,098
Deficiency of revenues under expenditures
$ (7,000)
(3,292)
$ 3,708
(2,641)
Fund balance, at beginning of year
41,906
44,547
Fund balances, at end of year
$
38,614
$
41,906
66
Exhibit B -19
KODIAK ISLAND BOROUGH
Special Revenue Funds
Kodiak Arts Council
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
Licenses, permits, fees and
other local services:
Reimbursement from Kodiak
Arts Council
Total revenues
Expenditures:
General administration:
Personnel services
Fringe benefits
Support goods and services
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Fund balance, at beginning of year
Fund balances, at end of year
2001
Variance-
favorable 2000
Budget Actual (unfavorable) Actual
$ 51,720 $
52,465 $
745 $
53,518
51,720
52,465
745
53,518
42,270
42,270
—
42,205
9,450
9,366
84
10,347
—
912
(912)
849
51,720
52,548
(828)
53,401
$ —
(83) $
(83)
117
146
29
$
63
$
146
67
u
Exhibit B -20 '
KODIAK ISLAND BOROUGH
Special Revenue Funds
Facilities
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
68 1
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Revenues:
Land sale proceeds:
Proceeds from the sale of Shuyak Island $
4,000,000 $
4,000,000
$ — $
4,000,000
Investments and property
1,385,888
758,307
(627,581)
376,208
Total revenues
5,385,888
4,758,307
(627,581)
4,376,208
Expenditures:
General and administration
4,598,812
—
4,598,812
—
Total expenditures
4,598,812
—
4,598,812
—
Excess of revenues over expenses
787,076
4,758,307
3,971,231
4,376,208
Other financing uses:
Operating transfers in (out) from (to) other funds:
Capital Projects – Borough projects
(301,746)
(301,746)
—
(200,640)
Buildings and grounds
(92,000)
(92,000)
—
(100,000)
Enterprise – KFRC
—
535,325
535,325
549,763
Debt Service funds
(393,330)
(393,330)
—
(278,561)
Net other financing uses
(787,076)
(251,751)
535,325
(29,438)
Excess of revenues and other financing sources
over expenditures and other financing uses $
—
4,506,556
$ 4,506,556
4,346,770
Fund balances, at beginning of year
17,301,079
12,954,309
Fund balances, at end of year
$
21,807,635
$
17,301,079
68 1
Exhibit B -21
KODIAK ISLAND BOROUGH
Special Revenue Funds
Tourism Development
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
2001
Revenues:
Transient accommodations tax
Investments and property
Total revenues
Expenditures:
Community development:
Contributions
Support goods and services
Total expenditures
(Deficiency) excess of revenues
(under) over expenditures
Fund balances, at beginning of year
Fund balances, at end of year
Variance-
favorable
Budget Actual (unfavorable)
$ 42,700 $ 42,578 $ (122) $
200 — (200)
42,900 42,578 (322)
2000
37,889
37,889
42,900 37,900 5,000 37,900
— 17 (17) 24
42,900 37,917 4,983 37,924
$ — 4,661 $ 4,661 (35)
20,284 20,319
$ 24,945 $ 20,284
.`
Exhibit B -22
KODIAK ISLAND BOROUGH
Special Revenue Funds
Kodiak Transit Authority
Statement of Revenues, Expenditures, Transfers and Changes in Fund Balance (Deficit)
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
City of Kodiak subsidy
State sources – grants
Federal sources – grants
Licences, permits, fees
and other local revenues
Total revenues
Expenditures:
General and administration:
Transportation services
Support goods and services
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Fund balance (deficit), at beginning of year
Fund balance, at end of year
2001
Variance-
favorable 2000
Budget Actual (unfavorable) Actual
$ — $ — $ — $ 42,837
— 255,662
— — 15,315
— 15,267
— 329,081
83,342
VJ'V
245,477
(245,477)
70
�I
J
I
DEBT SERVICE FUNDS
' 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.
1
0
r
DEBT SERVICE FUNDS
The Debt Service — Education and Health Fund was established to finance and account for the payment of
interest and principal on all general obligation debts, serial and term, other than that payable exclusively from
special assessments and revenue debt issued for and serviced by a government enterprise fund.
The Debt Service — Other Fund accounts for the long -term portion of the accrued vacation of Kodiak Island
Borough employees.
Exhibit C -1
KODIAK ISLAND BOROUGH
Debt Service Funds
Combining Balance Sheet
June 30, 2001 (with comparative totals for 2000)
Education
71
and
Totals
Assets
Health
Other
2001
2000
Equity in central treasury
$
344,942
$
113,983
$
458,925
$
134,886
Temporary investments
12,116
—
12,116
694,611
Accrued interest receivable
—
—
—
17,318
Total
$
357,058
$
113,983
$
471,041
$
846,815
Liabilities and Fund Balances
Liabilities:
Accounts payable
$
12,116
$
—
$
12,116
$
—
Due to other funds
—
—
—
442,158
Total liabilities
12,116
—
12,116
442,158
Fund balances:
Unreserved
344,942
113,983
458,925
404,657
Total fund balances
344,942
113,983
458,925
404,657
Total
$
357,058
$
113,983
$
471,041
$
846,815
71
Exhibit C -2
KODIAK ISLAND BOROUGH
Debt Service Funds
Combining Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Year Ended June 30, 2001 (with comparative totals for 2000)
Revenues:
Investments and property:
Interest income
Total revenues
Expenditures:
Debt service:
Principal
Interest
Fiscal agent fees
General and administrative
Total expenditures
Deficiency of revenues under expenditures
Other financing sources (uses):
Operating transfer in from component unit
Operating transfers in from other funds
Operating transfers out to other funds
Total other financing sources (uses)
(Deficiency) excess of revenues and other
financing sources (under) over expenditures
and other financing uses
Fund balances, beginning of year
Fund balances, end of year
Education
and
Totals
Health
Other
2001
2000
$ 24,718 $
— $
24,718 $
23,700
24,718
—
24,718
23,700
2,015,834
—
2,015,834
1,905,834
745,493
—
745,493
855,916
—
—
—
2,247
19,792
—
19,792
4,200
2,781,119
—
2,781,119
2,768,197
(2,756,401)
—
(2,756,401)
(2,744,497)
1,634,092
—
1,634,092
1,621,398
1,194,600
985
1,195,585
1,091,113
—
(19,008)
(19,008)
(25,657)
2,828,692
(18,023)
2,810,669
2,686,854
72,291
(18,023)
54,268
(57,643)
272,651
132,006
404,657
462,300
$ 344,942 $
113,983 $
458,925 $
404,657
72
Exhibit C -3
KODIAK ISLAND BOROUGH
Debt Service Funds
Education and Health
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
Investments and property:
Interest income
Total revenues
Expenditures:
Debt service:
Principal
Interest
Fiscal agent fees
General and administrative
Total expenditures
Deficiency of revenues
under expenditures
Other financing sources (uses):
Operating transfer in from component unit
Operating transfers in from other funds
Net other financing sources
Deficiency of revenues and other
financing sources under expenditures
and other financing uses
Fund balances, at beginning of year
Fund balances, at end of year
73 ' t
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ — $
24,718
$ 24,718 $
23,700
—
24,718
24,718
23,700
2,015,840
2,015,834
6
1,905,834
770,500
745,493
25,007
855,916
—
—
—
2,247
44,400
19,792
24,608
4,200
2,830,740
2,781,119
49,621
2,768,197
(2,830,740)
(2,756,401)
74,339
(2,744,497)
1,636,140
1,634,092
(2,048)
1,621,398
1,194,600
1,194,600
—
1,055,591
2,830,740
2,828,692
(2,048)
2,676,989
$ —
72,291
$ 72,291
(67,508)
272,651
340,159
$
344,942
$
272,651
73 ' t
Exhibit C -4
KODIAK ISLAND BOROUGH
Debt Service Funds Other
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
74
2001
Variance-
favorable
2000
Budget
Actual
(unfavorable)
Actual
Expenditures:
Employee benefits $
9,000 $
—
$ 9,000 $
—
Other financing sources (uses):
Operating transfers in from other funds
9,000
985
(8,015)
35,522
Operating transfer out to other funds
—
(19,008)
(19,008)
(25,657)
Net other financing sources (uses)
9,000
(18,023)
(27,023)
9,865
Excess (deficiency) of revenues and other
financing sources over (under) expenditures
and other financing sources $
—
(18,023)
$ (18,023)
9,865
Fund balances, at beginning of year
132,006
122,141
Fund balances, at end of year
$
113,983
$
132,006
74
I
1
1
1
1
CAPITAL PROTECTS FUNDS
Capital Projects Funds are used to account for general govern-
ment capital projects financed by general obligation bond issues,
intergovernmental grants, contributions from other funds and interest
income, exclusive of projects financed by proprietary funds.
1
I CAPITAL PROJECTS FUNDS
The Various Borough Projects Fund accounts for general government construction projects not accounted for
in other funds.
t The State Capital Grants Fund accounts for capital improvement projects relating to grants received from the
State of Alaska.
1
I I
3 '
I I
I I
a
Exhibit D -1
KODIAK ISLAND BOROUGH
Capital Project Funds
Combining Balance Sheet
June 30, 2001 (with comparative totals for 2000)
75
I
F
Various
State
Borough
Capital
Totals
Assets
Projects
Grants
2001
2000
Equity in central treasury
$
245,313
$
-
$
245,313
$
80,447
Temporary investments
2,727,987
-
2,727,987
297,690
Receivables:
Accrued interest
-
-
-
7,422
State of Alaska
-
268,249
268,249
22,909
Due from other funds
213,647
-
213,647
323,149
Total
$
3,186,947
$
268,249
$
3,455,196
$
731,617
Liabilities and Fund Balances
Liabilities:
Accounts payable
$
274,879
$
132,228
$
407,107
$
12,660
Retainages payable
48,181
-
48,181
3,707
Deferred revenues
-
-
-
25,354
Due to other funds
17,587
135,327
152,914
4,038
Total liabilities
340,647
267,555
608,202
45,759
Fund balances:
Fund balances:
Reserved for encumbrances
2,076,349
61,581
2,137,930
59,459
Unreserved:
Undesignated
769,951
(60,887)
709,064
626,399
Total fund balances
2,846,300
694
2,846,994
685,858
Total
$
3,186,947
$
268,249
$
3,455,196
$
731,617
75
I
F
Exhibit D -2
KODIAK ISLAND BOROUGH
Capital Project Funds
Combined Statement of Revenues, Expenditures, Transfers and Changes in Fund Balances
Year ended June 30, 2001 (with comparative totals for 2000)
Revenues:
State sources
Federal sources
Licenses, permits, fees and
other local revenues
Investments and property
Total revenues
Expenditures:
Capital improvements:
Schools
General
Total expenditures
Deficiency of revenues
under expenditures
Other financing sources (uses):
Operating transfers in from other funds
Proceeds from issuance of long -term debt
Net other financing sources (uses)
Excess (deficiency) of revenues and other
financing sources over (under)
expenditures and other financing uses
Fund balances, at beginning of year
Residual equity transfers in
Fund balances, at end of year
Various
State
Borough
Capital
Totals
Projects
Grants
2001
2000
$ - $
388,741 $
388,741 $
13,498
-
-
-
39,366
-
-
-
(9,630)
89,551
-
89,551
2,303
89,551
388,741
478,292
45,537
472,943
199,042
671,985
5,487
73,281
551,507
624,788
144,628
546,224
750,549
1,296,773
150,115
(456,673)
(361,808)
(818,481)
(104,578)
301,746
-
301,746
222,640
2,677,871
-
2,677,871
-
2,979,617
-
2,979,617
222,640
2,522,944
(361,808)
2,161,136
118,062
323,356
362,502
685,858
271,041
-
-
-
296,755
$ 2,846,300 $
694 $
2,846,994 $
685,858
76
KODIAK ISLAND BOROUGH
Capital Projects Funds
Schedule of Capital Funds
For the year ended June 30, 2001
Appropriations
Total
No.
Project
Status
Prior
2001
appropriations
,
Capital Projects - Education:,
128
410 -653
Peterson Addition (Match)
Completed $
1,269,450
$ (100,000)
$ - -1
130
410 -655
East Elementary Doorways
Open
4,200
-
4
'
152
410 -668
High School Roof Design
Completed
72,800
-
-42L, 9
00100
430 -696
School Repair KHS Roof
Open
181,100
(54,330)
126,770
00101
410 -697
School Repair KHS Roof
Complete
200,640
(200,573)
6
00105
410 -484
HS Matching to 00100
Open
-
54,330
- 54,436`
,
01100
430 -601
HS Roof Repair
Open
-
125,398
125,398✓
01101
410 -485
HS Matching to 01100
Open
-
53,742
-- 53,fi42' C
1
01102
420 -510
Series E Bond HS Roof Repair
Open
-
1,505,000
1,505,000
01105
410 -695
Series F Bond HS Roof Repair
Open
-
968,106
968,106
,
Total Education
1,728,190
2,351,673
4,079,863
Capital Projects - Health:
"3
121
410 -647
New Ambulance Purchase
Open
24,000
(24,000)
-
'
Total Health
24,000
(24,000)
-
Capital Projects - Utilities:
00102
410 -698
Bayside Undergound Electric
Open
22,000
-
22,000
182
410 -692
State Fair & Rodeo Water
Open
25,000
-
25,000
s
Total Utility Projects
47,000
-
47,000
Capital Projects - Other:
410 -400
Undesignated Projects
Open
-
224,764
224,764
85
410 -471
Village Metals Removal
Open
150,000
-
150,000
105
410 -482
Anton Larsen Dock
Open
140,000
-
140,000
114
410 -642
State Airport Improvements
Open
11,000
-
11,000
,
117
410 -645
Heliopad Striping
Open
3,000
-
3,000
133
410 -658
Red Cross Building Repairs
Open
12,000
-
12,000
142
430 -642
Clean Water Fund/Karluk
Open
50,000
-
50,000
143
430 -643
EVOSTC Project
Complete
250,000
(250,000)
-
145
410 -662
Computer Software Acquis.
Complete
590,000
(124,253)
4665,547✓
146
410 -663
BMX Bike Trail
Open
55,000
-
55,000
158
410 -674
Fire Service Study
Complete
31,055
(31,055)
-
159
410 -675
Borough Parks
Open
26,500
-
26,500
,
164
430 -645
Waste Management Imp
Open
1,585,800
-
1,585,800
169
430 -649
Clean Water Karluk
Open
350,000
-
350,000
170
410 -680
Bayside Fuel Tank Removal
Complete
5,000
(5,000)
-
172
410 -682
Nixon Ranch Road
Complete
23,000
1�
173
410 -683
Bayside Classroom Add
Open
75,000
75,000
174
410 -684
Bayside Storage/Bay Add
Open
325,000
75,000
400,000
177
430 -687
Anton Larsen Boat Ramp
Open
400,000
-
400,000
183
410 -693
School Freezer Relocation
Complete
40,000
(8,131)
- 31;869'
'
184
430 -694
Oil Spill Response Equip
Open
400,000
-
400,000
00103
430 -691
Island Lake Fish Passage
Complete
10,000
-
mow -'
00104
430 -699
Tide Gate
Open
10,000
-
10,000
00106
410 -690
MIS Study
Open
20,000
10,000
30,000
,
Transfers Out
Complete
16,252
(16,252)
-
Total - Capital Projects Other
4,578,607
(124,927)
4,453,680
Total All Capital Projects
$
6,377,797
$ 2,202,746
$ 8,580,543
'
77
,
Exhibit D -3
-
-
-
22,000
Encumbrances
11,807
Expenditures
15,309
Total
Unexpended
Current
Unencumbered
Prior
2001
expenditures
balance
encumbrances
balance
206,894
$ 1,169,450 $
-
$ $
-
$ -
$ -
139,580
-
139,580
4,200
-
4,200
6,634
66,168
10,940
(2)
-
(2)
-
73,644
- d 73,644
53,126
42,095
11,031
-
67
23,192
-
23,192
-
-
54,330
-- 54,330'
-
-
-
-
125,399
-F -S
(1)
-
(1)
-
53,742
>
-
-
-
-
294,064
--b 294,064
1,210,936
1,112,815
98,121
-
4,572
- -- h 4,572
963,534
963,534
-
1,176,084
671,986
1,848,070
2,231,793
2,118,444
113,349
-
-
-
22,000
- 22,000
11,807
3,502
15,309
9,691
- 9,691
11,807
3,502
15,309
31,691
- 31,691
-
17,870
17,870
206,894
- 206,894
120,539
456
120,995
29,005
- 29,005
139,580
-
139,580
420
- 420
60
-
60
10,940
- 10,940
-
-
-
3,000
- 3,000
6,777
-
6,777
5,223
- 5,223
23,192
-
23,192
26,808
- 26,808
465,747
-
465,7
-
- -
49,278
-
49,278
5,722
- 5,722
10,231
-
10,231
16,269
- 16,269
13,500
149,736
163,236
1,422,564
- 1,422,564
89,189
-
89,189
260,811
- 260,811
1,531
21,469
X990
-
- -
48,199
-
48,199
26,801
- 26,801
20
-
20
399,980
- 399,980
42,405
45,765
88,170
311,830
19,486 292,344
31,869
-
3T869
-
- -
-
354,702
354,702
45,298
- 45,298
-
-
- --
10,000
- 10,000
-
1,304
1,304
8,696
- 8,696
-
29,983
29,983
17
- 17
1,042,117
621,285
1,663,402
2,790,278
19,486 2,770,792
$ 2,230,008 $
1,296,773 $
3,526,781 $
5,053,762 $
2,137,930 $ 2,915,832
78
1
1
u
I
J
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.
J
1
11
ENTERPRISE FUNDS
1 The Municipal Solid Waste Collection and Disposal Fund accounts for the collection and disposal of solid
waste and recycling services for the Kodiak Island Borough.
t The Hospital Facilities Fund accounts for rents on the Borough -owned hospital; hospital related state revenue
sharing; and other hospital related revenue. In turn, it purchases hospital equipment and makes debt service
payments on hospital related debt.
' The 911 Service Fund accounts for funds collected from phone charges and pays for a 911 emergency system.
The Kodiak Fisheries Research Center Fund accounts for rents and expenses on the Borough -owned Kodiak
Fisheries Research Center. The three tenants: NOAA, Alaska Department of Fish & Game and University of
Alaska, Fairbanks pay lease funds to participate in this multi- agency research facility committed to the
preservation of the North Pacific marine ecosystem and resources.
i
f]
79 1
i
Exhibit E -1
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Balance Sheet
'
June 30, 2001 (with comparative totals for 2000)
Municipal
Kodiak
Solid Waste
Fisheries
Collection and
Hospital
911
Research
Totals
Assets
Disposal
Facilities
Services
Center
2001
2000
' '-
Current assets:
Equity in central treasury
$ 164,615
$ 86,043 $
70,522 $
-
5 321,180
$
333,191
Temporary investments
651,394
352,192
-
2,072,156
3,075,742
1,855,146
Accrued interest receivable
635
486
-
1,943
3,064
12,028
Customer receivables
241,162
-
-
2,170
243,332
510,086
'
Accounts receivable -
t
State of Alaska
100,000
-
-
-
100,000
31,094
Due from other funds
-
-
-
-
-
547,935
Inventories
-
277,007
-
-
277,007
277,007
l
Total current assets
1,157,806
715,728
70,522
2,076,269
4,020,325
3,566,487
Fixed assets:
Unclassified utility plant in service
2,200,347
-
-
-
2,200,347
2,205,383
Land and irrgrrovements
-
401,046
-
1,021,998✓
1,423,044
1,431,066
Buildings
-
26,131,043
-
17,840,400✓
43,971,443
44,040,019
'
Machinery and equipment
1,001,811
4,657,720
-
1,134,663 ✓
6,794,194
7,543,525
Construction work -in- process
2,231,804
-
-
-
2,231,804
1,941,032
t
5,433,962
31,189,809
-
19,997,061
56,620,832
57,161,025
Less accumulated depreciation
(1,227,162)
(7,044,138)
-
(1,484,384)
(9,755,684)
(8,464,363)
Net fixed assets
4,206,800
24,145,671
-
18,512,677
46,865,148
48,696,662
Total
$ 5,364,606
$ 24,861,399 $
70,522 $
20,588,946
$ 50,885,473
$
52,263,149
Liabilities and Fund Equities
Current liabilities:
i
Accounts payable
$ 154,775
$ - $
- $
30,031
$ 184,806
$
297,892
e
Retainage payable
-
-
-
-
-
78,750
Accrued expenses
46,336
-
-
21,872
68,208
51,262
'
Current portion of note payable
-
629,656
-
-
629,656
592,013
fi
Current portion of capital lease obligations
-
277,720
-
-
277,720
261,984
Due to other funds
100,000
-
1,101,840
1,201,840
920,291
Total current liabilities
301,111
907,376
-
1,153,743
2,362,230
2,202,192
Noncurrent liabilities:
Notes payable
1,231,804
669,690
-
-
1,901,494
2,231,467
Capital lease obligations
-
797,306
-
-
797,306
1,074,993
Long -term interfund borrowings
-
-
-
7,370,000
7,370,000
7,595,000
Accrual for landfill closure and
'
postclosure costs
2,122,151
-
-
-
2,122,151
2,066,758
Total liabilities
3,655,066
2,374,372
-
8,523,743
14,553,181
15,170,410
Fund equities:
Contributions in aid of construction:
s
State of Alaska
3,413,636
-
-
3,000,000
6,413,636
6,413,636
Other
19,990
17,956,116
-
8,920,540
26,896,646
26,896,646
I
3,433,626
17,956,116
-
11,920,540
33,310,282
33,310,282
Accumulated amortization
(977,683)
(1,197,075)
-
(794,702)
(2,969,460)
(1,921,164)
,
Net contributions in
aid of construction
2,455,943
16,759,041
-
11,125,838
30,340,822
31,389,118
Contributed capital
5,166,717
-
215,486
5,382,203
5,382,203
Retained earnings (accumulated
,
deficits), unreserved
(746,403)
561,269
70,522
723,879
609,267
321,418
Total fund equities
1,709,540
22,487,027
70,522
12,065,203
36,332,292
37,092,739
Total
$ 5,364,606
$ 24,861,399 $
70,522 $
20,588,946
$ 50,885,473
$
52,263,149
'
79 1
I I
� I
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Statement of Revenues, Expenses, Transfers and
Changes In Retained Earnings (Accumulated Deficits)
Year ended June 30, 2001 (with comparative totals for 2000)
Exhibit E -2
Municipal
Operating revenues:
Solid waste collection
Solid waste disposal
Solid Waste
State sources - revenue sharing
Customer charges
Rents and royalties
Collection and
Donations
911
PKIMC gain
Lease proceeds
Disposal
Other
Services
Operating expenses:
2001
Personnel services
$ 1,718,904 $
Solid waste collection
- $
Refuse disposal
1,718,904
Contracted services
889,885
Repairs and maintenance
-
Landfill closure and postclosure costs
889,885
Depreciation
-
Genera] and administration
Medicaid refund
-
Telephone services
39,907
Recycling services
-
Miscellaneous
69,078
Support goods and services
69,078
Contributions
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Statement of Revenues, Expenses, Transfers and
Changes In Retained Earnings (Accumulated Deficits)
Year ended June 30, 2001 (with comparative totals for 2000)
Exhibit E -2
Municipal
Operating income
Other income (expenses):
Intergovernmental revenue
Solid Waste
Interest income
Interest expense
Loss on sale of assets
Collection and
Net income (loss)
911
Transfer (to) from other funds:
Operating transfers out to other funds
Disposal
Amortization of contributions in aid
Services
of construction
2001
Increase (decrease) in retained earnings
$ 1,718,904 $
(Accumulated deficits) retained earnings,
- $
at beginning of year
1,718,904
(Accumulated deficits) retained earnings,
889,885
at end of year
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Statement of Revenues, Expenses, Transfers and
Changes In Retained Earnings (Accumulated Deficits)
Year ended June 30, 2001 (with comparative totals for 2000)
Exhibit E -2
Municipal
Kodiak
Solid Waste
Fisheries
Collection and
Hospital
911
Research
Totals
Disposal
Facilities
Services
Center
2001
2000
$ 1,718,904 $
- $
- $
- $
1,718,904
$ 1,697,403
889,885
-
-
-
889,885
975,557
-
39,907
-
-
39,907
44,883
-
-
69,078
-
69,078
63,695
-
1,484,927
1,484,927
1,494,342
-
103,400
-
-
103,400
125,000
-
372,732
-
-
372,732
217,662
-
720,000
-
-
720,000
720,000
11,566
-
-
-
11,566
11,895
2,620,355
1,236,039
69,078
1,484,927
5,410,399
5,350,437
338,392
-
-
195,050
533,442
465,852
1,250,607
-
-
-
1,250,607
1,176,729
297,992
-
-
-
297,992
298,831
285,132
-
30,000
41,088
356,220
349,613
40,781
-
-
336,829
377,610
308,056
57,115
-
-
-
57,115
128,623
93,714
1,180,918
-
744,000
2,018,632
2,119,851
177,654
-
-
-
177,654
189,469
-
-
-
-
-
27,494
-
-
-
-
-
35,909
67,680
-
-
-
67,680
64,900
-
-
-
51,954
51,954
51,137
-
-
-
802
802
3,359
2,844
-
-
-
2,844
8,801
2,611,911
1,180,918
30,000
1,369,723
5,192,552
5,228,624
8,444
55,121
39,078
115,204
217,847
121,813
69,838
-
-
-
69,838
-
24,376
12,506
-
39,791
76,673
91,984
-
(171,689)
-
-
(171,689)
(249,089)
(13,493)
(186,197)
-
(27,071)
(226,761)
(8,669)
89,165
(290,259)
39,078
127,924
(34,092)
(43,961)
-
(191,030)
-
(535,325)
(726,355)
(549,763)
52,408
598,537
-
397,351
1,048,296
1,048,299
141,573
117,248
39,078
(10,050)
287,849
454,575
(887,976)
444,021
31,444
733,929
321,418
(133,157)
$ (746,403) $
561,269 $
70,522 $
723,879 S
609,267
b 321,418
0
Exhibit E -3 '
KODIAK ISLAND BOROUGH
Enterprise Funds
Combining Statement of Cash Flows
Year ended June 30, 2001 (with comparative totals for 2000)
81 1
Municipal
Kodiak
a
Solid Waste
Fisheries
Collection
Hospital
911
Research
Totals
and Disposal
Facilities
Services
Center
2001
2000
Operating income $
8,444
$ 55,121
$ 39,078
$ 115,204
$
217,847
$
121,813
F
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation
93,714
1,180,918
-
744,000
2,018,632
2,119,851
Loss on disposal of fixed assets
-
-
-
-
-
8,669
Changes in assets and liabilities, net
of effects of transfer of assets and
liabilities from other funds:
Customer receivables
46,147
217,699
-
2,908
266,754
(266,877)
Due to/from other funds
(51,368)
(147,995)
-
1,013,847
814,484
(344,506)
Inventories
-
-
-
-
-
(
Accounts payable
(13,910)
(8,012)
-
(91,164)
(113,086)
56,057
Deferred revenues
-
-
-
-
-
(60,000)
Accrual for landfill closure
and postclosure costs
55,393
-
-
-
55,393
127,358
Due to the City of Kodiak
-
-
-
-
-
-
#
Other accrued liabilities
343
16,603
16,946
472
Total adjustments
130,319
1,242,610
-
1,686,194
3,059,123
1,641,022
Net cash provided by operating
activities
138,763
1,297,731
39,078
1,801,398
3,276,970
1,762,835
Cash flows from non-capital and
i
related financing activities:
Operating transfers out to other funds
(191,030)
-
(535,325)
(726,355)
(549,763)
Net cash used in non - capital
and related financing activities
-
(191,030)
-
(535,325)
(726,355)
(549,763)
Cash flows from capital and
related financing activities:
}
Acquisition and construction
of capital assets
(368,589)
(109,886)
-
(13,222)
(491,697)
(898,109)
Interest paid on notes payable,
.;
capital leases and interfund borrowing
-
(171,689)
-
-
(171,689)
(223,438)
Principal paid on long -term
interfund borrowing
-
-
-
(210,000)
(210,000)
(195,000)
Proceeds from issuance of note payable
299,686
-
-
-
299,686
513,249
Principal payments on notes payable
-
(592,016)
-
-
(592,016)
(556,625)
Principal payments on capital lease obligations
-
(261,951)
-
-
(261,951)
(308,401)
Contributions in aid of construction
-
-
-
265,662
Net cash provided by (used in) capital
and related financing activities
(68,903)
(1,135,542)
-
(223,222)
(1,427,667)
(1,402,662)
Cash flows from investing activities:
Changes in restricted assets:
Deductions from (additions to)
restricted cash
Deductions from restricted investments
-
-
-
-
-
-
-
-
-
218,013
-
Interest and dividends on investments
29,627
15,942
-
40,068
85,637
81,065
'
Net (decrease) increase in investments
2,495
98,942
(1,322,033)
(1,220,596)
223,603
Net cash (used in) provided by
investing activities
32,122
114,884
-
(1,281,965)
(1,134,959)
522,681
Net change in cash and cash equivalents
101,982
86,043
39,078
(239,114)
(12,011)
333,091
Cash and cash equivalents, at beginning of year
62,633
-
31,444
239,114
333,191
100
Cash and cash equivalents, at end of year $
164,615
$ 86,043
$ 70,522
$ -
$
321,180
$
333,191
Noncash capital and related
financing activities:
Loss on disposal of fixed assets $
13,493
$ 186,197
$ -
$ 27,071
$
226,761
$
-
Residual equity transfers
-
-
-
-
-
(296,755)
$
13,493
$ 186,197
$ -
$ 27,071
$
226,761
$
(296,755)
'
®
81 1
Exhibit E -4
KODIAK ISLAND BOROUGH
Municipal Solid Waste Collection and Disposal Fund
Balance Sheets
June 30, 2001 and 2000
Assets
2001
2000
Current assets:
—
78,750
Equity in central treasury
$ 164,615 $
62,633
Temporary investments
651,394
653,889
Customer receivables
241,162
287,309
Accounts receivable – State of Alaska
100,000
31,094
Due from other funds
—
147,935
Accrued interest receivable
635
5,886
1,157,806
1,188,746
Fixed assets:
(977,683)
(925,275)
Unclassified utility plant in service
2,200,347
2,205,383
Equipment
1,001,811
1,031,461
Construction work -in- process
2,231,804
1,941,032
Less accumulated depreciation
(1,227,162)
(1,154,640)
4,206,800
4,023,236
Total
$ 5,364,606 $
5,211,982
Liabilities and Fund Equity
Current liabilities:
Accounts payable
$ 154,775 $
168,685
Retainage payable
—
78,750
Due to other funds
100,000
299,303
Accrued expenses
46,336
45,993
Fund equity:
301,111
592,731
Noncurrent liabilities:
Landfill closure and postclosure costs
2,122,151
2,066,758
Note payable
1,231,804
932,118
3,353,955
2,998,876
3,655,066
3,591,607
Fund equity:
Contributions in aid of construction:
State of Alaska
3,413,636
3,413,636
Other
19,990
19,990
3,433,626
3,433,626
Accumulated amortization
(977,683)
(925,275)
Net contributions in aid of construction
2,455,943
2,508,351
Accumulated deficits, unreserved
(746,403)
(887,,976)
Total fund equity
1,709,540
1,620,375
Total
$ 5,364,606 $
5,211,982
82
Exhibit E -5
KODIAK ISLAND BOROUGH
Municipal Solid Waste Collection and Disposal Fund
Statement of Revenues, Expenses, Transfers and
Changes in Accumulated Deficits
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Operating revenues:
Solid waste collection
Solid waste disposal
Other
Operating expenses:
Personnel services
Solid waste collection
Refuse disposal
Contracted services
Repairs and maintenance
Landfill closure and postclosure costs
Depreciation
General and administration
Contributions
Recycling services
Operating income
Other income:
Intergovernmental revenue
Interest income
Loss on disposal of fixed assets
Net income (loss)
Amortization of contributions in
aid of construction
Increase in retained earnings
Accumulated deficits, at beginning of year
Accumulated deficits, at end of year
83 1
2001
Variance -
favorable
2000
Budget
Actual
(unfavorable)
Actual
$ 1,610,900 $
1,718,904
$ 108,004 $
1,697,403
860,500
889,885
29,385
975,557
-
11,566
11,566
11,895
2,471,400
2,620,355
148,955
2,684,855
335,380
338,392
(3,012)
327,962
1,119,100
1,250,607
(131,507)
1,176,729
34,850
297,992
(263,142)
298,831
319,000
285,132
33,868
300,217
40,500
40,781
(281)
29,005
287,408
57,115
230,293
128,623
96,670
93,714
2,956
98,160
235,900
177,654
58,246
182,957
-
2,844
(2,844)
8,801
70,000
67,680
2,320
64,900
2,538,808
2,611,911
(73,103)
2,616,185
(67,408)
8,444
(75,852)
68,670
-
69,838
-
-
15,000
24,376
9,376
24,726
-
(13,493)
13,493
(25,651)
$ (52,408)
89,165
$ (52,983)
67,745
52,408
52,409
141,573
120,154
(887,976)
(1,008,130)
$
(746,403)
$
(887,976)
83 1
Exhibit E -6
KODIAK ISLAND BOROUGH
Municipal Solid Waste Collection and Disposal Fund
Statements of Cash Flows
Years ended June 30, 2001 and 2000
Operating income
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation
Changes in assets and liabilities, net of effects from the
transfer of assets and liabilities from other funds:
Customer receivables
Due from other funds
Due to other funds
Accounts payable
Accrual for landfill closure and postclosure costs
Other accrued liabilities
Total adjustments
Net cash provided by operating activities
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
Contributions in aid of construction
Proceeds from issuance of note payable
Net cash provided by (used in) capital
and related financing activities
Cash flows from investing activities:
Purchase of investments
Interest and dividends received on investments
Net cash provided by (used in) 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
Noncash capital and related financing activities:
Residual equity transfers
Loss on disposal of fixed assets
2001
2000
$ 8,444 $
68,670
93,714
98,160
46,147
(44,100)
147,935
(86,916)
(199,303)
2,547
(13,910)
5,243
55,393
127,358
343
758
130,319 103,050
138,763 171,720
(368,589) (704,219)
— 265,662
299,686 513,249
(68,903) 74,692
2,495
29,627
32,122
101,982
62,633
$ 164,615 $
(202,719)
18,840
(183,879)
62,533
100
62,633
$ — $ (296,755)
13,493 —
$ 13,493 $ (296,755)
Exhibit E -7
KODIAK ISLAND BOROUGH
Hospital Facilities Fund
Balance Sheets
June 30, 2001 and 2000
Assets
2001
2000
Current assets:
4,657,720
5,353,242
Equity in central treasury
$ 86,043 $
—
Temporary investments
352,192
451,134
Customer receivables
—
217,699
Accrued interest receivable
486
3,922
Inventories
277,007
277,007
Current liabilities:
715,728
949,762
Fixed assets:
Buildings
26,131,043
26,199,619
Machinery and equipment
4,657,720
5,353,242
Land and improvements
401,046
409,068
Less accumulated depreciation
(7,044,138)
(6,559,029)
24,145,671
25,402,900
Total
$ 24,861,399 $
26,352,662
Liabilities and Fund Equity
Current liabilities:
Accounts payable
$ — $
8,012
Due to other funds
—
147,995
Current portion of long -term debt
629,656
592,013
Current portion of capital lease obligations
277,720
261,984
907,376
1,010,004
Long -term debt
669,690
1,299,349
Capital lease obligations
797,306
1,074,993
1,466,996
2,374,342
2,374,372
3,384,346
Fund equity:
Contributions in aid of construction
Other
17,956,116
17,956,116
Accumulated amortization
(1,197,075)
(598,538)
16,759,041
17,357,578
Contributed capital
5,166,717
5,166,717
Retained earnings, unreserved
561,269
444,021
Total fund equity
22,487,027
22,968,316
Total
$ 24,861,399 $
26,352,662
1
1
i
85
1
'
Exhibit E -8
KODIAK ISLAND BOROUGH
'
Hospital Facilities Fund
Statement of Revenues, Expenses, Transfers and
'
Changes in Retained Earnings
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
2001
'
Variance
favorable
2000
Budget
Actual
(unfavorable)
Actual
Operating revenues:
1
State sources - revenue sharing
$ 40,000 $
39,907 $
(93) $
44,883
Lease proceeds
720,000
720,000
-
720,000
Donations
140,000
103,400
(36,600)
125,000
PKIMC gain
240,000
372,732
132,732
217,662
'
1,140,000
1,236,039
96,039
1,107,545
Operating expenses:
Personnel services
-
-
63
Contracted services
_
9,269
Depreciation
1,308,120
1,180,918
127,202
1,274,984
General and administration
85,000
-
85,000
6,512
Medicaid refund
-
-
-
27,494
1,393,120
1,180,918
202,870
1,318,322
Operating (loss) income
(253,120)
55,121
298,909
(210,777)
1
Other income (expenses):
Interest income
15,000
12,506
(2,494)
21,933
Interest expense
(171,690)
(171,689)
1
(223,438)
Loss on disposal of fixed assets
2,300
(186,197)
(188,497)
(8,669)
Income before
operating transfers
$ (407,510)
(290,259) $
107,919
(420,951)
Other financing sources (uses):
1
Operating transfers out to other funds
(191,030)
-
Net other financing sources (uses)
(191,030)
-
Net loss
(481,289)
(420,951)
Amortization in contributions
in aid of construction
598,537
598,538
'
Increase in retained earnings
117,248
177,587
Retained earnings, at beginning of year
444,021
266,434
'
Retained earnings, at end of year
$
561,269
$
444,021
:.
Exhibit E -9
KODIAK ISLAND BOROUGH
Hospital Facilities Fund
Statements of Cash Flows
Years ended June 30, 2001 and 2000
Operating (loss) income
Adjustments to reconcile operating (loss) income
to net cash provided by operating activities:
Depreciation
Loss on disposal of fixed assets
Changes in assets and liabilities:
Customer receivables
Due from other funds
Inventories
Accounts payable
Due to other funds
Deferred revenues
Total adjustments
Net cash provided by operating activities
Cash flows from non - capital and
related financing activities:
Operating transfers out to other funds
Cash flows from capital and
related financing activities:
Acquisition and construction of capital assets
Interest paid on note payable and capital leases
Principal payments on note payable
Principal payments on capital lease obligations
Net cash used in capital
and related financing activities
Cash flows from investing activities:
Interest and dividends paid on investments
Maturities of investments
Deductions from restricted cash
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
Noncash capital and related financing activities:
Loss on disposal of fixed assets
2001
2000
55,121 $
(210,777)
1,180,918
1,274,984
—
8,669
217,699
(217,699)
—
18,790
—
(2)
(8,012)
8,012
(147,995)
(30,181)
—
(60,000)
1,242,610 1,002,573
1,297,731 791,796
(191,030) —
(109,886)
(133,810)
(171,689)
(223,438)
(592,016)
(556,625)
(261,951)
(308,401)
(1,135,542) (1,222,274)
15,942 18,011
98,942 194,454
— 218,013
114,884 430,478
86,043 —
$ 86,043 $ —
$ 186,197 $ —
87
Exhibit E -10
KODIAK ISLAND BOROUGH
911 Services Fund
Balance Sheets
June 30, 2001 and 2000
Assets
Assets:
Equity in central treasury
Fund Equity
Fund Equity:
Retained earnings, unreserved
2001
2000
$ 70,522 $ 31,444
$ 70,522 $ 31,444
::
Exhibit E -11
KODIAK ISLAND BOROUGH
911 Services Fund
Statement of Revenues, Expenses, Transfers and
Changes in Retained Earnings
Budget and Actual
Year ended June 30, 2001 (with comparative totals for 2000)
Operating revenues:
Customer charges
Operating expenses:
Telephone services
Operating income
Retained earnings, at beginning of year
Retained earnings, at end of year
2001
Variance-
favorable
2000
Budget Actual
(unfavorable)
Actual
$ 80,000 $ 69,078
$ (10,922) $
63,695
80,000 30,000
50,000
35,909
$ — 39,078
$ 39,078
27,786
31,444
$ 70,522
3,658
$ 31,444
Exhibit E -12
KODIAK ISLAND BOROUGH
911 Services Fund
Statements of Cash Flows
Years ended June 30, 2001 and 2000
Operating income
Adjustments to reconcile operating income to net cash
provided by operating activities:
Changes in assets and liabilities:
Due from other funds
Accounts payable
Total adjustments
Net cash provided by operating activities
Net change in cash and cash equivalents
Cash and cash equivalents, at beginning of year
Cash and cash equivalents, at end of year
2001 2000
$ 39,078 $ 27,786
—
11,888
—
(8,230)
—
3,658
39,078
31,444
39,078
31,444
31,444
—
$ 70,522 $
31,444
90
Exhibit E -13
KODIAK ISLAND BOROUGH
Kodiak Fisheries Research Center Fund
Balance Sheets
June 30, 2001 and 2000
Assets
2001
2000
Current assets:
1,134,663
1,158,822
Equity in central treasury
$ — $
239,114
Temporary investments
2,072,156
750,123
Customer receivables
2,170
5,078
Due from other funds
—
400,000
Accrued interest receivable
1,943
2,220
Current liabilities:
2,076,269
1,396,535
Fixed assets:
Buildings
17,840,400
17,840,400
Machinery and equipment
1,134,663
1,158,822
Land and improvements
1,021,998
1,021,998
Less accumulated depreciation
(1,484,384)
(750,694)
18,512,677
19,270,526
Total
$ 20,588,946 $
20,667,061
Liabilities and Fund Equity
Current liabilities:
Accounts payable
$ 30,031 $
121,195
Accrued expenses
21,872
5,269
Due to other funds
1,101,840
472,993
1,153,743
599,457
Noncurrent liabilities:
Long -term interfund borrowings
7,370,000
7,595,000
8,523,743
8,194,457
Fund equity:
Contributions in aid of construction
State of Alaska
3,000,000
3,000,000
Other
8,920,540
8,920,540
11,920,540
11,920,540
Accumulated amortization
(794,702)
(397,351)
11,125,838
11,523,189
Contributed capital
215,486
215,486
Retained earnings, unreserved
723,879
733,929
Total fund equity
12,065,203
12,472,604
Total
$ 20,588,946 $
20,667,061
31
1
158,985
(20,155)
KODIAK ISLAND BOROUGH
1
Kodiak Fisheries Research Center Fund
(5,025)
Statement of Revenues, Expenses, Transfers and
1
Changes in Retained Earnings
Budget and Actual
37,446
Year ended June 30, 2001 (with comparative totals for 2000)
1
744,000
Operating revenues:
' Rents and royalties
Operating expenses:
Personnel services
' Employee benefits
Miscellaneous
Depreciation
Cleaning and janitorial
Heating
Electrical
Plumbing
Air conditioning
Elevators
Support goods and services
Operating income
Other income
Interest income
Loss on disposal of fixed assets
Income before
operating transfers
1 Other financing sources (uses):
Operating transfers out to other funds
Net loss
1 Amortization of contributions in
aid of construction
Increase (decrease) in retained earnings
Retained earnings, at beginning of year
Retained earnings, at end of year
2001
Variance
favorable
Budget Actual (unfavorable)
$ 1,492,370 $ 1,484,927 $ (7,443) $
Exhibit E -14
2000
1,494,342
138,830
158,985
(20,155)
103,742
31,040
36,065
(5,025)
34,085
89,400
51,954
37,446
51,137
746,770
744,000
2,770
746,707
51,000
41,088
9,912
40,127
95,000
70,375
24,625
67,446
185,500
154,590
30,910
162,630
60,700
107,626
(46,926)
40,478
11,000
2,438
8,562
7,899
2,000
1,800
200
598
3,150
802
2,348
3,359
1,414,390
1,369,723
44,667
1,258,208
77,980
115,204
37,224
236,134
60,000
39,791
(20,209)
45,325
-
(27,071)
(27,071)
$ 137,980
127,924 $
(10,056)
281,459
(535,325)
(407,401)
397,351
(10,050)
733,929
$ 723,879
(549,763)
(268,304)
397,352
129,048
604,881
$ 733,929
92
Exhibit E -15
KODIAK ISLAND BOROUGH
Kodiak Fisheries Research Center Fund
Statements of Cash Flows
Years ended June 30, 2001 and 2000
Operating income
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation
Changes in assets and liabilities:
Customer receivables
Due from other funds
Accounts payable
Accrued expenses
Due to other funds
Total adjustments
Net cash provided by operating activities
Cash flows from noncapital and related financing activities:
Operating transfers out to other funds
Net cash used in noncapital financing activities
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
Principle paid on long -term interfund borrowing
Net cash used in capital and related
financing activities
Cash flows from investing activities:
Net increase (decrease) in investments
Interest received
Net cash provided by (used in) investing activites
Net change in cash and cash equivalents
Cash and cash equivalents, at beginning of year
Cash and cash equivalents, at end of year
Noncash capital and related financing activities:
Loss in disposal of fixed assets
2001
$ 115,204 $
744,000 746,707
2,908
400,000
(91,164)
16,603
613,847
1,686,194
1,801,398
(5,078)
(348,454)
51,032
(286)
87,820
531,741
767,875
(535,325) (549,763)
(535,325) (549,763)
(13,222) (60,080)
(210,000) (195,000)
(223,222) (255,080)
(1,322,033)
231,868
40,068
44,214
(1,281,965)
276,082
(239,114)
239,114
239,114
—
$ — $
239,114
$ 27,071 $
2000
236,134
93
1
GENERAL FIXED ASSETS ACCOUNT GROUP
'
The General Fixed Assets Account Group is a self - balancing
account group which is used to account for the fixed assets of the
'
Borough other than those recorded in the Enterprise Funds.
1
Exhibit F -1
KODIAK ISLAND BOROUGH
General Fixed Assets Account Group
Schedules of Fixed Assets by Source
June 30, 2001 and 2000
General fixed assets:
Land
Buildings
Improvements other than buildings
Machinery and equipment
Construction work -in- progress
Total
Investment in general fixed assets:
Capital Projects Funds:
General obligation bonds
Federal grants
State grants
General Fund revenues
Special Revenue Fund revenues
Contributions from State of Alaska
Contributions from Federal Government
Contributions from others
Total
2001 2000
$ 5,362,188
$ 5,434,991
88,783,292
88,811,586
3,700,998
3,731,098
1,117,298
1,790,739
2,357,374
1,683,416
$ 101,321,150 $ 101,451,830
$ 57,751,151 $ 57,755,638
4,314,864
19,471,040
9,848,382
900,239
3,730,279
1,259,300
4,045,895
4,316,206
19,327,397
9,830,144
1,125,780
3,786,861
1,259,300
4,050,504
$ 101,321,150 $ 101,451,830
0�
1
Exhibit F -2 I
KODIAK ISLAND BOROUGH
General Fixed Assets Account Group
Schedules of General Fixed Assets by Function and Activity
As of June 30, 2001
95
Improvements
Machinery
other than
and
Total
Land
Buildings
buildings
equipment
Staff agencies:
Finance department
$ 24,166 $
— $
— $
— $
24,166 ✓
249,092 ✓
Management information systems
249,092
—
—
—
Assessing department
24,150
—
—
—
24,150 ✓
Community development department
29,844
—
—
—
—
29,844✓
31,936 /
Engineering/Facilities department
31,936
—
—
Land sales
7,967
—
—
—
—
7,967✓
94,503✓
General administration
94,503
—
—
Total staff agencies
461,658
—
—
—
461,658
Public safety:
Emergency preparedness
222,184
—
100,000✓
—
122,184✓
Women Bay Service Area
629,665
—
425,655✓
—
204,010✓
Fire Protection Area No. 1
1,093,618
241,137✓
612,686✓
—
239,795✓
Total public safety
1,945,467
241,137
1,138,341
—
565,989
Schools
84,070,183
—
81,240,673-
231,560
2,829,510-
—
—
—
Teacher housing
General government buildings
231,560
5,261,718
—
—
5,172,718 ✓
29,349
59,651✓
Building sites
391,001
391,001✓
—
—
—
Playgrounds
710,239
—
—
1,000,000✓
710,239✓
131,900✓
—
30,000
Other
1,161,900
—
91,826,601
391,001
87,644,951
3,700,998
89,651
Undeveloped land
4,730,050
4,730,050
—
—
—
98,963,776
5,362,188
88,783,292
3,700,998
1,117,298
Construction work -in- progress
2,357,374
—
1,891,627
—
465,747✓
Total general fixed assets
$ 101,321,150 $
5,362,188 $
90,674,919 $
3,700,998 $
1,583,045
95
96
Exhibit F -3
'
KODIAK ISLAND BOROUGH
General Fixed Assets Account Group
Schedules of General Fixed Assets by Function and Activity
'
For the year ended June 30, 2001
General fixed
General fixed
assets at
assets at
July 1, 2000 Additions
Deletions
June 30, 2001
'
Staff agencies:
Borough mayor
$ 20,420 $ - $
20,420
$ -
Borough clerk
40,637 -
40,637
Finance department
120,487 -
96,321
24,166
Management information systems
351,617 -
102,525
249,092
Assessing department
65,020 -
40,870
24,150
'
Community development department
101,804 -
71,960
29,844
Engineering/Facilities department
83,048
51,112
31,936
Land sales
19,166 -
11,199
7,967
General administration
111,869 -
17,366
94,503
Mental Health Center
532,623 -
532,623
-
Child Care Assistance Program
2,265 -
2,265
-
Coastal management
3,685 -
3,685
-
Total staff agencies
1,452,641 -
990,983
461,658
Public safety:
Emergency preparedness
227,598 -
5,414
222,184
Fire Protection Area No. 1
1,152,915 -
59,297
1,093,618
Womens Bay Fire District
651,422 14,305
36,062
629,665
Woodland Acres Service Area
3,014 -
3,014
-
Kodiak Transit Authority
26,460 -
26,460
-
Total public safety
2,061,409 14,305
130,247
1,945,467
Schools
84,078,538 -
8,355
84,070,183
'
Teacher housing
238,792
7,232
231,560
General government buildings
4,867,291 438,911
44,484
5,261,718
Building sites
404,403 -
13,402
391,001
Playgrounds
713,989
3,750
710,239
Other
1,161,900
1,161,900
91,464,913 438,911
77,223
91,826,601
'
Undeveloped land
4,789,451
59,401
4,730,050
99,768,414 453,216
1,257,854
98,963,776
'
Construction work -in- progress
1,683,416 673,978
20
2,357,374
Total general fixed assets
$ 101,451,830 $ 1,127,194 $
1,257,874
$ 101,321,150
96
1
r]
1
GENERAL LONGTERM 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
Exhibit G -1
KODIAK ISLAND BOROUGH
General Long -Term Debt Account Group
Schedules of Long -Term Debt
Years ended June 30, 2001 and 2000
2001 2000
Amount available and to be provided for
the payment of general long -term debt:
Amount available in Debt Service Fund:
General obligation bonds $ 344,942 $ 272,651
Accrued annual leave 113,983 132,006
458,925 404,657
Amount to be provided:
General obligation bonds
Judgments
Environmental Protection Agency loan
Alaska Department of Environmental Conservation loans
Total
General Obligation Bonds:
1989 refunding
1993 bonds
1994 bonds
1998 refunding
2000 Series E bonds
2000 Series F bonds
Other long -term debt:
Judgment payable
Environmental Protection Agency loan
Alaska Department of Environmental Conservation loans
Accrued annual leave
Total
17,345,058
16,752,349
1,350,000
1,350,000
72,919
93,749
105,272
105,272
18,873,249
18, 301, 370
$ 19,332,174 $
18,706,027
4,505,000
1,030,000
9,495,000
1,485,000
1,175,000
17,690,000
1,155,000
5,295,000
1,030,000
9,545,000
17,025,000
1,350,000
1,350,000
72,919
93,749
105,272
105,272
113,983
132,006
1,642,174
1,681,027
$ 19,332,174
$ 18,706,027
97
ADDITIONAL INFORMATION
BONDED INDEBTEDNESS
The following schedules reflect total bonded indebtedness of the
Borough by bond issue. Each issue outstanding is reflected by date,
interest rate, inclusive bond numbers, and amount of principal and
interest due. Total indebtedness is reflected on a summary page of all
debts not defeased.
KODIAK ISLAND BOROUGH Exhibit H -1
SUMMARY OF BONDED DEBT SERVICE REQUIREMENTS TO MATURITY
AS OF JUNE 30, 2001
Annual principal and interest requirements on General Obligation Refunding and Construction Bonds.
Year
Principal
Interest
Total
2002
$ 1,075,000
$ 865,660
$ 1,940,660
2003
1,120,000
780,993
1,900,993
2004
1,180,000
727,691
1,907,691
2005
1,235,000
669,816
1,904,816
2006
1,295,000
607,786
1,902,786
2007
1,360,000
515,079
1,875,079
2008
1,440,000
469,156
1,909,156
2009
1,505,000
402,606
1,907,606
2010
1,575,000
332,886
1,907,886
2011
1,645,000
259,736
1,904,736
2012
1,360,000
183,180
1,543,180
2013
1,420,000
124,700
1,544,700
2014
1,480,000
65,640
1,545,640
$ 17,690,000
$ 6,004,928
$ 23,694,928
KODIAK ISLAND BOROUGH
GENERAL. OBLIGATION BONDS, 1993 SERIES A
RETIREMENT SCHED
Exhibit H -2
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 First Trust N.A., St. Paul, Minnesota.
..
Interest
Principal
Interest
Fiscal
Interest
due
due
due
year
rate
August 15
February 15
February 15
Total
2002
4.35%
$ 103,674
$ 825,000
$ 103,674
$ 1,032,348
2003
4.4%
85,730
860,000
85,730
1,031,460
2004
4.55%
66,810
900,000
66,810
1,033,620
2005
4.75%
46,335
940,000
46,335
1,032,670
2006
4.9%
24,010
980,000
24,010
1,028,020
$ 326,559
$ 4,505,000
$ 326,559
$ 5,158,118
..
KODIAK ISLAND BOROUGH Exhibit H -3
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 First Trust N.A., St. Paul, Minnesota.
Interest Principal
Interest
Fiscal Interest due due
due
year rate August 15 February 15
February 15
Total
2002 5.4% $ 27,810 $ -
$ 27,810
$ 55,620
2003 5.4% 27,810 -
27,810
55,620
2004 5.4% 27,810 -
27,810
55,620
2005 5.4% 27,810 -
27,810
55,620
2006 5.4% 27,810 -
27,810
55,620
2007 5.4% - 1,030,000
27,810
1,057,810
$ 139,050 $ 1,030,000
$ 166,860
$ 1,335,910
11
KODIAK ISLAND BOROUGH
Exhibit H -4
GENERAL OBLIGATION REFUNDING BONDS, 1998 SERIES A
RETIREMENT SCHEDULE
1998 Bond Issue
This issue, dated December 7, 1998, was issued 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 1998 Bonds. The financial
advisor for this issue was Kaplan Financial Consulting, Inc. Legal opinion was
rendered by bond council, Birch, Horton, Bittner, and Cherot. The paying agent for
this issue was Alaska USA Trust Company. These bonds were issued to refund all but
$1,030,000 of the 1994 bond issue. This resulted in a total interest savings of
$504,859.
101
Interest
Principal
Interest
Fiscal
Interest
due
due
due
year
rate
August 15
February 15
February 15
Total
2002
3.75%
$ 203,523
$ 50,000
$ 203,523
$ 457,046
2003
3.75%
202,585
50,000
202,585
455,170
2004
4.00%
201,648
55,000
201,648
458,296
2005
4.00%
200,548
55,000
200,548
456,096
2006
4.00%
199,448
60,000
199,448
458,896
2007
4.00%
198,248
60,000
198,248
456,496
2008
4.30%
197,048
1,150,000
197,048
1,544,096
2009
4.30%
172,323
1,200,000
172,323
1,544,646
2010
4.30%
146,523
1,250,000
146,523
1,543,046
2011
4.30%
119,648
1,305,000
119,648
1,544,296
2012
4.30%
91,590
1,360,000
91,590
1,543,180
2013
4.30%
62,350
1,420,000
62,350
1,544,700
2014
4.30%
32,820
1,480,000
32,820
1,545,640
$ 2,028,302
$ 9,495,000
$ 2,028,302
$ 13,551,604
101
C
I
KODIAK ISLAND BOROUGH
GENERAL OBLIGATION BOND, 2000 SERIES E
RETIREMENT SCHEDULE
Exhibit H -5
2000E Bond Issue
This issue, dated December 12, 2000, was issued 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 2000 Series E Bond.
This issue was marketed by the Alaska Municipal Bond Bank. Legal opinion was rendered by bond
council, Wholforth, Vassar, Johnson & Brecht of Anchorage, Alaska.
This bond was issued to repair the high school roof. The high school roof repair is scheduled to be
completed by the fall of 2001.
102
Interest
Principal
Interest
Fiscal
Interest
due
due
due
year
rate
August 01
February 01
February 01
Total
2002
4.75%
$ 51,502
$ 120,000
$ 36,213
$ 207,715
2003
4.75%
33,363
125,000
33,363
191,725
2004
4.75%
30,394
130,000
30,394
190,788
2005
4.75%
27,306
135,000
27,306
189,613
2006
4.75%
24,100
145,000
24,100
193,200
2007
4.88%
20,656
150,000
20,656
191,313
2008
5.00%
17,000
160,000
17,000
194,000
2009
5.00%
13,000
165,000
13,000
191,000
2010
5.00%
8,875
175,000
8,875
192,750
2011
5.00%
4,500
180,000
4,500
189,000
$ 230,696
$1,485,000
$ 215,406
$ 1,931,102
102
KODIAK ISLAND BOROUGH
GENERAL OBLIGATION BOND, 2000 SERIES F
RETIREMENT SCHEDULE
Exhibit H -6
2000F Bond Issue
This issue, dated December 12, 2000, was issued 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 2000 Series F Bond.
This issue was marketed by the Alaska Municipal Bond Bank. Legal opinion was rendered by bond
council, Wohlforth, Vassar, Johnson & Brecht of Anchorage, Alaska.
This bond was issued to upgrade Peterson Elementary. The Peterson Project has already been
completed.
103
Interest
Principal
Interest
Fiscal
Interest
due
due
due
year
rate
August 01
February 01
February 01
Total
2002
8.88%
$ 63,372
$ 80,000
$ 44,559
$ 187,931
2003
9.00%
41,009
85,000
41,009
167,018
2004
9.00%
37,184
95,000
37,184
169,368
2005
8.35%
32,909
105,000
32,909
170,818
2006
6.90%
28,525
110,000
28,525
167,050
2007
7.00%
24,730
120,000
24,730
169,460
2008
7.00%
20,530
130,000
20,530
171,060
2009
7.05%
15,980
140,000
15,980
171,960
2010
7.10%
11,045
150,000
11,045
172,090
2011
7.15%
5,720
160,000
5,720
171,440
$ 281,004
$ 1,175,000
$ 262,190
$ 1,718,194
103
1
s
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.
t
KODIAK ISLAND BOROUGH TABLE 1
KODIAK, ALASKA
GENERAL GOVERNMENTAL EXPENDITURES
AND OTHER USES BY FUNCTION (a)
LAST TEN FISCAL YEARS
Fiscal
General
Health and
Other
year
government
sanitation
Education (b)
transfers
Total
1992
$2,739,848
$706,251
$3,027,510
$500,000
$6,973,609
1993
2,955,824
674,032
3,374,721
137,962
7,142,539
1994
2,555,349
690,430
3,615,695
322,228
7,183,702
1995
2,681,472
1,442,644
3,861,967
164,649
8,150,732
1996
2,941,453
1,390,307
4,678,830
267,594
9,278,184
1997
2,664,204
1,393,016
5,083,942
250,000
9,391,162
1998
2,848,474
1,506,992
6,466,321
571,296
11,393,083
1999
2,733,502
1,179,420
7,044,970
-
10,957,892
2000
2,540,354
730,888
6,500,341
55,905
9,827,488
2001
2,993,718
594,072
6,824,276
323,299
10,735,365
(a) Includes general fund only.
(b) Includes operating transfers for this function
Source: Borough general ledger
104
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL REVENUES BY SOURCE
LAST TEN FISCAL YEARS
TABLE 2
(a) Includes general fund only.
Source: Borough general ledger
Inter-
Licenses,
Fiscal
governmental
permits
year
Taxes
and fees
1992
$ 4,067,934
$ 212,936 $
1993
4,481,158
433,825
1994
4,674,382
457,895
1995
5,976,914
928,079
1996
5,693,539
285,100
1997
5,582,037
108,483
1998
7,589,595
86,138
1999
7,694,387
86,523
2000
8,057,781
92,609
2001
8,135,184
95,129
(a) Includes general fund only.
Source: Borough general ledger
Inter-
governmental
Investment
Operating
Miscellaneous
revenue
income
transfers
Revenue Total
2,450,339
$ 367,551
$ 81,670
$ - $ 7,180,430
1,991,730
289,570
-
- 7,196,283
2,053,750
291,046
-
- 7,477,073
1,633,162
659,794
-
- 9,197,949
2,396,704
452,196
-
- 8,827,539
2,396,272
371,414
9,672
- 8,467,878
2,739,075
333,243
-
- 10,748,051
2,055,803
238,515
32,632
- 10,107,860
1,770,038
358,351
129,829
- 10,408,608
2,135,483
583,633
18,154
44,945 11,012,528
105
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
TABLE 3
Percent of
Percent of
Percent of
current
Delinquent
total tax
Outstanding
delinquent
Fiscal
Total
Current tax
levy
tax
Total tax
collections
delinquent
taxes to
year
tax levy
collections
collected
collections
collections
to tax levy
taxes
tax levy
1992
$ 3,736,674
$ 3,654,535
97.8
$ 22,178
$ 3,676,713
98.4
$ 88,284
2.4
1993
4,045,235
3,907,612
96.6
60,633
3,968,245
98.1
169,584
4.2
1994
4,353,371
4,176,676
95.9
21,295
4,197,971
96.4
193,624
4.4
1995
5,141,728
4,955,108
96.4
56,140
5,011,248
97.5
232,679
4.5
1996
5,466,066
5,249,168
96.0
56,531
5,305,699
97.1
289,210
5.3
1997
5,576,773
5,478,939
98.2
96,490
5,575,429
100.0
192,722
3.5
1998
7,384,490
7,121,678
96.4
77,576
7,199,254
97.5
381,180
5.2
1999
7,704,172
7,575,491
98.3
314,367
7,889,858
102.4
234,738
3.0
2000
7,743,649
7,507,018
96.9
175,066
7,682,084
99.2
316,482
4.1
2001
8,164,127
7,912,859
96.9
204,458
8,117,316
99.4
364,044
4.5
Source: Borough general ledger
106
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YE ARS
TABLE 4
800,000,000
600,000,000
400,000,000
200,000,000
0
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
107
Ratio of
total
assessed to
REAL PROPERTY
PERSONAL
PROPERTY
TOTAL
total
Fiscal
Assessed
Full value
Assessed
Full value
Assessed
Full value
full value
year
value
determination
value
determination
value
determination
determination
1992 $
439,710,369
$ 457,383,400
$ 76,594,500
$ 280,085,100 $
516,304,869
$ 737,468,500
70.01
1993
467,821,217
497,758,275
91,537,867
331,544,400
559,359,084
829,302,675
67.45
1994
499,172,455
517,754,900
92,264,018
325,842,100
591,436,473
843,597,000
70.11
1995
515,954,650
539,053,753
98,616,145
319,052,138
614,570,795
858,105,891
71.62
1996
538,627,500
560,459,900
101,835,076
318,741,600
640,462,576
879,201,500
72.85
1997
549,456,964
565,281,400
104,677,687
312,465,100
654,134,651
877,746,500
74.52
1998
573,742,998
587,145,000
107,599,894
310,049,900
681,342,892
897,194,900
75.94
1999
577,551,709
599,696,900
109,304,683
297,058,600
686,856,392
896,755,500
76.59
2000
594,870,287
613,787,700
120,828,748
322,947,400
715,699,035
936,735,100
76.40
2001
626,906,341
614,419,200
121,
336,548,600
748,755,533
950,967,800
78.74
Source: Borough assessment
and tax records and State full value determination
Last Ten Years Assessed Values
800,000,000
600,000,000
400,000,000
200,000,000
0
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
107
KODIAK ISLAND BOROUGH TABLE 5
KODIAK, ALASKA
PROPERTY TAX RATES AND
CONTRIBUTIONS TO THE SCHOOL DISTRICT
(PER $100 OF ASSESSED VALUE)
LAST TEN FISCAL YEARS
PROPERTY TAX RATES
CONTRIBUTIONS TO THE SCHOOL DISTRICT
Fiscal
Assessed
Amount of
Woodland
Year
Value
Contribution
Equivalent
1992
$ 516,304,869
$ 3,620,202
7.01
1993
Acres
3,864,691
6.91
1994
591,436,473
3,990,847
6.75
1995
KIB
City
Street
ROAD SERVICES
AREAS
FIRE AREAS
7.14
Fiscal
General
of
Lighting
Monashka
Service
Bay View
Womens
Service
Womens
Year
Fund
Kodiak
Area
Bay
District 1
Road
Bay
Area No. 1
Bay
1992
5.50
2.00
0.75
2.00
1.75
1.00
2.50
1.25
1.25
1993
5.50
2.00
0.75
2.00
1.75
1.00
2.50
1.25
1.25
1994
5.50
2.00
0.75
2.00
1.75
1.00
2.50
1.50
1.25
1995
6.75
2.00
0.75
1.50
1.75
1.00
2.00
1.50
1.25
1996
6.75
2.00
0.50
1.75
1.75
1.00
2.00
1.50
1.25
1997
6.75
2.00
0.50
1.50
1.75
1.00
2.00
1.50
1.25
1998
9.25
2.00
0.50
1.50
0.75
1.00
2.00
1.50
1.25
1999
9.25
2.00
0.00
1.50
0.50
1.00
2.00
1.50
1.25
2000
9.25
2.00
0.00
1.50
0.50
1.00
2.00
1.50
1.25
2001
9.25
2.00
0.00
1.50
1.00
1.00
2.00
1.50
1.25
CONTRIBUTIONS TO THE SCHOOL DISTRICT
Fiscal
Assessed
Amount of
Millage
Year
Value
Contribution
Equivalent
1992
$ 516,304,869
$ 3,620,202
7.01
1993
559,359,084
3,864,691
6.91
1994
591,436,473
3,990,847
6.75
1995
614,570,795
3,770,399
6.14
1996
640,462,576
4,574,068
7.14
1997
654,134,651
4,839,887
7.40
1998
681,342,892
5,715,361
8.39
1999
686,856,392
6,492,876
9.45
2000
715,699,035
6,678,652
9.33
2001
748,755,533
6,913,926
9.23
Source:
Borough ordinance and assessment
108
KODIAK ISLAND BOROUGH TABLE 6
KODIAK, ALASKA
TEN LARGEST PROPERTY TAXPAYERS
YEAR ENDED JUNE 30, 2001
Totals 14.8% $ 110,842,349 $ 1,152,536 14.1%
Source: Borough tax records.
109
Percentage
Percentage
of total
Net
of total
assessed
Assessed
taxes
taxes
value
valuation
levied
levied
International Seafoods
2.2%
$ 16,179,778
$ 173,885
2.1%
Western Alaska Fisheries
1.8%
13,404,955
136,665
1.7%
Trident Seafood Corp
1.8%
13,485,635
130,265
1.6%
T.U. of the Northland
1.5%
11,358,110
117,722
1.4%
Alaska Pacific Seafoods
1.4%
10,617,111
109,417
1.3%
King Crab /Ocean Beauty
1.4%
10,296,869
103,597
1.3%
CSX Lines LLC
1.2%
9,169,017
99,156
1.2%
Safeway /MBPA
1.2%
8,683,466
98,963
1.2%
Kodiak Fishmeal Co.
1.2%
8,987,182
97,642
1.2%
Walmart
1.2%
8,660,226
85,225
1.0%
Totals 14.8% $ 110,842,349 $ 1,152,536 14.1%
Source: Borough tax records.
109
KODIAK ISLAND BOROUGH
' KODIAK, ALASKA
RATIO OF NET GENERAL BONDED DEBT�
LAST TEN FISCAL YEARS
TABLE 7
I I
Ratio
'
of net
Less Debt
bonded debt
Fiscal
Assessed
Gross
Service
Net bonded
to assessed
'
year
Population
value
bonded debt
Fund
debt
value
1992
15,535
$516,304,869
$12,195,000
$6,556,480
$5,638,520
1.1
'
1993
15,535
559,359,084
10,470,000
5,847,171
4,622,829
0.8
'
1994
15,245
591,436,473
27,915,000
4,133,559
23,781,441
4.0
1995
15,575
614,570,795
25,665,000
2,075,768
23,589,232
3.8
1996
15,400 (a)
640,462,576
23,205,000
1,759,644
21,445,356
3.3
1997
14,058 (a)
654,134,651
21,660,000
549,569
21,110,431
3.2
'
(a)
1998
14,181
681,342,892
20,020,000
432,942
19,587,058
2.9
'
1999
13,848 (a)
686,856,392
18,910,000
340,159
18,569,841
2.7
2000
13,989 (a)
715,699,035
17,025,000
272,651
16,752,349
2.3
'
2001
14,028 (a)
748,755,533
17,690,000
344,942
17,345,058
2.3
Sources:
Information obtained from assessment records and Borough general ledger except as otherwise noted.
'
(a) Information
obtained from State of Alaska, Department of Community
and Regional Affairs,
Certified Population for Revenue Sharing Program.
'
110
Net
bonded
debt
per
capita
$363
298
1,560
1,515
1,393
1,502
1,381
1,341
1,198
1,236
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
NNE 30, 2000
TABLE 8
Kodiak Island Borough:
General obligation bonds
City of Kodiak:
Revenue bonds
Total
Percentage
Kodiak Island
Net debt applicable to this
Borough
outstanding governmental
share of
(a) unit (b)
debt (c)
$ 17,345,058 100% $ 17,345,058
3,955,000 100% 3,955,000
$ 21,300,058 $ 21,300,058
(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.
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF LEGAL DEBT MARGIN
JUNE 30, 2000
TABLE 9
Assessed value
Plus exempt property
Total
$ 748,755,533
2,475,199,399
$ 3,223,954,932
The State of Alaska does not mandate a debt limit to its municipalities and political
subdivisions. Debt capacity is ultimately determined by the voters and the marketplace.
Source: Borough assessment records.
112
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
113
Total
Ratio of
general
debt service
Fiscal
Interest
Total debt
expenditures
to general
year
Principal (a)
and fees
service
and transfers
expenditures
1992
$ 1,685,833
$ 1,008,918
$ 2,694,751
$ 6,973,603
38.6
1993
1,745,833
736,357
2,482,190
7,142,539
34.8
1994
1,775,833
690,170
2,466,003
7,162,545
34.4
1995
2,270,833
1,760,185
4,031,018
8,150,732
49.5
1996
2,480,833
1,386,681
3,867,514
9,278,184
41.7
1997
1,565,833
1,239,996
2,805,829
9,391,162
29.9
1998
1,660,833
1,141,366
2,802,199
11,393,083
24.6
1999
1,915,833
853,652
2,769,485
10,957,892
25.3
2000
1,905,833
858,164
2,763,997
9,827,488
28.1
2001
2,015,834
746,994
2,762,828
10,735,365
25.7
(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
113
KODIAK ISLAND BOROUGH TABLE 11
KODIAK, ALASKA
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
Fiscal
School
Unemployment
year
Population (a)
enrollment (b)
rate (c)
1992
15,535
2,602
5.1
1993
15,535
2,632
6.0
1994
15,245
2,802
9.4
1995
15,575
2,773
11.2
1996
15,400
2,793
13.7
1997
14,058
2,809
7.7
1998
14,181
2,897
8.2
1999
13,848
2,815
6.8
2000
13,989
2,798
7.2
2001
14,028
2,750
9.5
Sources:
(a) State of Alaska, DCRA certified population.
(b) Kodiak Island Borough School District.
(c) Department of Labor, Anchorage.
114
,
KODIAK ISLAND BOROUGH
TABLE 12
KODIAK, ALASKA
,
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST TEN FISCAL YEARS
CONSTRUCTION
Commercial Residential
Deposits
PROPERTY VALUE*
'
Fiscal No. of
No. of
in local
year permits Value
permits
Value
banks
Commercial
Residential
Nontaxable
1992 48 $ 3,748,125
163 $
9,201,613
$ 103,679,201
$ 130,469,150
$ 323,060,260
$ 2,002,661,025
1993 55 3,359,264
143
6,218,434
94,838,546
134,637,371
333,203,846
2,027,200,278
1994 45 2,947,984
146
5,037,061
98,970,444
148,714,050
350,458,405
2,271,468,957
1995 59 6,055,321
159
4,305,352
103,838,289
148,156,300
367,798,350
2,354,550,201
,
1996 41 3,862,599
160
7,864,907
108,116,331
155,755,000
382,872,500
2,404,513,974
1997 36 1,559,938
112
6,262,439
108,926,259
157,911,064
391,545,900
2,404,872,414
1998 39 16,676,612
149
8,103,624
107,973,700
161,787,264
411,955,734
2,420,596,952
1999 51 6,784,879
141
8,222,313
123,206,000
160,921,064
416,630,645
2,420,601,099
2000 54 2,720,259
156
9,086,074
120,465,733
172,709,507
422,160,780
2,475,199,399
2001 33 1,379,673
198
11,501,804
119,637,923
193,882,996
433,023,355
2,475,199,399
'
*Assessed value.
Source: Borough assessing records, City of
Kodiak building department and local bankers.
'
115
,
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
MISCELLANEOUS STATISTICAL DATA
LAST TEN FISCAL YEARS
Date of incorporation - September 30, 1963, Second Class Borough by Chapter 146 Sessions, Laws of Alaska 1961, as
amended, Form of Government - Mayor /Assembly.
Inner Inns
1994
1995
Land area - square miles
7,130
7,130
Miles of improved street
21.5
21.5
Miles of sanitary sewers
16.0
16.7
Number of water taps
873
877
Number of sanitary sewer taps
851
858
Building permits:
Permits issued
211
108
Value of buildings (thousands)
12,950
9,578
Fire protection:
Number of fire stations
2
2
Number of employees
1
1
Police protection - none
Recreation:
Parks - number of acres
223
223
Facilities:
Number of playgrounds
15
15
Number of swimming pools
1
1
Education:
Number of schools:
City of Kodiak Elementary
3
3
City of Kodiak Junior High
1
1
City of Kodiak High School
1
1
Village Schools (a)
9
9
Number of personnel: (b)
Administration
6.0
5.0
Principals
9.5
9.5
Teachers
166.3
172.4
Technical
6.5
6.5
Clerical and Aides
64.1
75.3
Maintenance/Warehouse
19.2
19.1
Custodial
21.2
21.2
Food Service
8.4
8.3
Total number of personnel
301.2
317.3
Number of students
2,602
2,632
Number of municipal employees
72
67
Elections:
Number of registered voters
6,263
6,654
Number voting in last election
1,986
2,328
Percent of registered voters
31.8%
35.0%
(a) The majority of Village Schools are grades K -12.
(b) Based on full time equivalents.
(c) As of July 1, 1996 the City of Kodiak assumed ownership, maintenance, and operation of the
existing water and sewer utilities in Service District.
Source: Borough records.
7,130
21.6
16.8
913
891
191
4,740
2
1
223
15
1
3
1
1
9
5.0
9.5
180.0
6.5
81.3
19.1
21.7
8.3
331.4
2,802
64
7,061
2,634
37.0%
7,130
21.6
16.8
921
899
218
10,360
2
1
223
15
1
3
1
1
9
5.0
11.0
185.3
6.5
73.3
19.7
21.6
8.5
330.9
2,773
65
7,382
2,113
29.0%
116
TABLE 13
19%
1997
1998
1999
2000
2001
7,130
7,130
7,130
7,130
7,130
7,130
21.6
24.7
24.7
25.0
25.0
25.4
16.8
- (c)
- (c)
-
(c)
- (c)
- (c)
921
- (c)
- (c)
-
(c)
- (c)
- (c)
899
- (c)
- (c)
-
(c)
- (c)
- (c)
201
148
188
192
210
231
11,728
7,822
24,780
15,007
11,806
12,881
2
2
2
2
2
2
1
1
1
1
1
1
224
224
224
224
224
224
16
16
16
16
16
16
1
1
1
1
1
1
4
4
4
4
4
4
1
1
1
1
1
1
1
1
1
1
1
1
9
9
9
9
9
9
6.0
6.0
5.2
5.2
4.2
7.5
12.0
11.7
11.4
11.4
10.3
9.5
183.8
188.5
179.6
178.1
188.6
200.0
3.0
3.5
9.0
9.0
11.1
3.0
61.7
63.7
72.7
75.2
78.9
79.5
12.0
9.0
10.0
8.0
10.8
15.0
22.5
26.3
27.6
30.6
29.0
39.0
3.7
4.2
6.3
6.7
10.7
8.0
304.7
312.9
321.8
324.2
343.6
361.5
2,793
2,809
2,897
2,815
2798
2750
63
63
50
46
36
37
8,217
9,350
9,967
10,389
9,935
10,311
1,471
2,120
2,076
1,972
2,525
2,521
17.9%
22.70%
20.8%
19.0%
25.4%
24.4%
117