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CAFR FY2011_ � � KODIAK ISLAND BOROUGH Comprehensive Annual Financial Report Year F,nded June 30, 201 I Official Issuing Report Karleton G. Short Finance Director r � � r � r r KODIAK ISLAND BOROUGH TABLE OF CONTF,NTS June3Q 2011 INTRODUCTORY SECTION: LeUer of Transmittal GFOA Certificate oCAchievement Organizational Chart Elected Officials(Photographs) Borough Off cials Map of Kodiak Island Bomugh FINANCIAL SECTION: Independent Aadi[ors' Report Managemen['s Discussion and Analysis Basic Financial Statements: Govemmcnt-wide Pinancial Statements: SlaLement of Net Assets Stn[emen� of Activities Fund Financial Statcmcnts: Balance Sheet — (iovemmcn[al Funds Reconcilia[ion oCNet Asse[s Retwccn [hc Govcrnment-Wide and [he Fund Cinancial S[atements Statement of Revenucs, E,xpendiwres, and Changcs in Fund Dalances (Defici[s)— Governmental f unds Reconcilia[ion of [he Statement of Revenues, Expendi[ures, and Changes in Fund Balances of Govemmental Punds to Hie Statement of Ac[ivilies Statement ofNet Assets—Proprietary Funds—Business-Type Activi[ies— Enterprise Funds Statement oC Revenues, F,xpenscs, and Changes in Ne[ Assets — Proprietary Funds — Business= fype Activities — 6n[erprise Funds Statement of Cash Flows — Proprietary Funds — Busincss-Type Activi[ies — Enteryrise Funds Notes to Basic Financial S[atemen[s Required Supplementary InPormation: Budgetary Comparison Schedule—General Pund Budgetary Comparison Schedule — Special Revenue Fund — Facili[ies Notes to Required Supplementary Information — 6udgetary Comparison Schedules Addi[ional Supplementary Informa[ion: Budgetary Comparison Schedule — Deb[ Service P�md — Educa[ion and [ lealth Nonmajor Governmental Funds: Combining Balance Shoet Combining Statcmcnt of Revenues, Expenditures, and Chenges in Fund Balances Nonmajor Special Revenue Funds: Combining Dalance Shcct Page 1-4 5 6 7 R 9 10-1 I 12-21 22 23 24 25 25 27 ?g 29 30-31 32-68 69-70 71 72 73 74 75 7fi-79 KODIAK ISLAND BOROUGII TABLE OR CONTENTS, WNTINUF.D Additional Supplementaryluforma[ion, con[inucd Combining Statement o( Revenues, Cxpenditures and Chengcs i� Pund 13alnnezs (DePcits) Schedule of Revenues, F.xpenditures, and Changes in Fund Balance (DePcit) – 6udget and Ac[ual: Firo and Road Servicc Arcas: Fim: Fire Protection Area No. I Womens Ciay Fire Uepartmcnl Kodink Airport Firc District RoaJ: Monashka 6ay 2oad Service Area Scrvicc Aren No. 1 Womais F3xy Road Service Area l3ey View Road Service Aren Servicc Arcn No. 2 Coastal Management Child Care Assistance Program L.E.P.C. Land Sales Ruildings and Grounds Woodland Acres Sfreet Light Scrvice Arca "frinity Islands Street Light Service Area l�ourism Dcrclopment Mission Lake Tide Gate Pern Fuller l rust Trinity Islends Puving Nomnajor Capi[al Projec[ Funds: Combining Balance Shee[ Combining Statement of Revenues, ExpendiWres nnd C�hanges in Fund Balances (Deticit) Page � RO-83 84 � xs H6 87 8R 89 90 — 91 92 93 — ya 95 96 _ 97 98 99 � 100 101 102 103 104 � (continued) r � � KODIAK ISLAND llOROUGIi 'CABI,E OF CONTL:NTS, CONTINUEU En�cmrise Funds: ScheAulc of Rcccnucs, Lxpenses, aud Cha�ges iu Ne� Assets—Budget and Acmal: Municipal Solid Waste Collcction and Dispo�sal Hospitat Facilities Kodiak (�isheries Rcsearch Center 91I Services h'uud Supplemen[arv Schedules: Summary of Uonded Debt Ser��ice Requiremen[s to MaWrity General Obligation Bonds, 2004 Series C—Kelirement Schcdule General Obligation Bonds, 2004 Series 73 —Retiremen[ Schcdule C:e��eral Obligalion Bonds, 2008 Seiies A—Retimment Schedulc Ge�eral Obligation Bonds, 2009 Series A— Retirement Schedulc Gcneral Obliga�ion Bonda, 2011 Series One—Retiremcnt Schedu7c � s7�n� �s�ricA� sFC��on: Statistical Seetioi� Index Net Assets by Comyoncnt— last Seven 1'iscal Years � Changes' in Net Asse[s — Last Scven Fiswl Ycars Pund [3alances of Govemmental Fu�ds —LastTwo Piscal Years Changes in FLnd Halances oCGovernmental Punds—Last Eight Piscal Ycars � General Revenues by Souree—Lzst'I'en Fiscal Ycnrs Asscssed and Estimated Actual Value of'Caxable Property— Lasc'Ten Piscal Years Direci and Ovedapping PropertyTax Rates and Contributions to (he Sehool Dfstrict Principal Propcny Tax Payers - Current Year and Ten Ycars Ago � Nroperty Tax I.evics and Collcetions — Last Ten Yiscul Yeais Ra[ios ofNel General Honded llebt Outstanduig—I,ast "Pen Piscal Years Computatfon of Direct and Ovedzpping Dcbt � Legal DebtMargin hifomialion — Las� Scvcn Fiscel Years Ra[io of Annual Debt Servicc l:xpendfmres for General Bonded Debt to "fotal General Governmental Expendf[ures and Transfers — Lasl Ten Fiscel Years .. Ratios of Outstanding Debt by 7�y�e— Last l�en Fiseal Years Demogcaphic and I:conomic Statislies — Last Ten Fiscal Yc�rs Average Mo�(hly Employment & Eamings Las[ Six 1'iscal Yrars � Miscellaneous Statistival Data—Iast Ten 7'iscal Years Propeity VoluG Construclion ai�d Ba��k Deposits—Last Ten Fiscal Years Fu14Time Equivalent Borough Employees by Function/Prog�am — I.asl Scvcn Fiscal Years � OpeietinglndicarorsbyPunction—LastTenFiscnlYcars Capital Asset S(ztis[ics by Funetion/Progrem—Last Teu Piseal Yeurs ]OS 106 ]07 108 109 110 111 112 113 114 115 IIG lt7 118 119 120 I 21 722 123 I 24 125 125 727 128 129 I30 131 132 133 134 ]35 136 (This page was lek blank intentionally) Introductory Section � Fcbruary 28, 2012 Members of the Assembly � Kodiak Island Borough, Alaska Kodiak Island Borough Finance Department 710 Mill Bay Road Kodiak, Alaska 99615 Phone(907)486-9323 Fax(907)486-9392 S[ate of Alaska statutes and local charter piovisions reyuire tha[ all gencral-purposc locnl �, govemments publish a complete set of financial statcmcnts presented in conformiTy with generally accepted accounting principles in the United States of America (GAAP) and auditeA in � accordance with auditing standards generally accepted in the Onited States of America by a Yirm ., of licensed eer[ified public aceountants. Puesuant to that mquireme�t, we hereby issue the comprehensive annual financial report of lhe Kodiak Island Rorough (Borough) for Ihe fiscal year ended June 30, 2011. This report consisis of management's representations coneeming the finanees of the Borough. Consequently, management assumes full responsibility for the completencss and reliability of all � of the information presented in this repori. To provide a reasooablc basis for making these representations, management of the Borough has established a comprehensive internal control framework that is designed both to protect thc government's assets from loss, theft, or misuse � and to compile suCficient reliable i�fortnation for the preparation of the Borough's financial statements in conformity with GAAP. Because the wst of internai controls should not outweigh � their benefits, thc Borough's comprehensive framework of intemal conhols has been designed to � provide reasonable cather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best oT our knowledge and belief � this financial �eport is complete and reliabLe in all material respeets. The BorougKs financial statemcnts have been audited by Altmaq Rogers & Co., a firm of licensed eertified public aecountants. The goal of the independe�t audit was to form an opi�ion � on whether the financial statcments of the Borough, for the fiscal year ended June 30, 201 l, aze presented fairly, in all material respects, in accordance with generally aeeepted accounting pri�eiples in the United States of America. The independent audit involved examining o� a test � basis, evidence supporting the amounts and disclosures in the financial statements; assessi�g the accounting prineiples used and significant estimates made by ma�agemeot; and evaluating the overall financial statemem presentation. The indepcndcnt auditor issued a� unqualified opinio� � on the Bocough's finaucial statements foc the fiseal year ended June 30, 2011. The independen[ auditors' report is peesented as [he ficst compo�ent of the finaneial section oC this report. ' The i�dependent audit of the financial statemen[s of the Bomugh was part of broader, State and federally mandated "Single Audits" designed to meet the special needs of State aud federal � g�anlor agencies. The standards governing Single Audit engagements requim the independent auditor to report not only on [he fair p�esentation of lhe financial stateme�ts, but also on die — audi[ed govemmenPs internal controls and compliance with legal requirements, witl� special emphasis on inlernal controls and Icgal rcyuirements involvi�g the admi�istration of State a�d federal awa�ds. 'lhese reports are available in the Borough's separatcly issued Single Audit � Report. UAAP �equire that management provide a nnrrative introduction, overview, and analysis to — aeeompany ihe basic tinaneial statements in the fbrm of Management's lliscussion and Analysis (MD&A). This letter of transmittal is designed to complement MD&A and should be read i❑ conjunction with it. Thc Borough's MD&A can be found immediately following thc report of the ' independentauditors. Profile of the Govcrnment — The Kodiak Island 13orough lies at the westem border of the Gulf of Alaska, approximately 40 miles south of the Kenai Peninsula Kodiak Isla��d is the lacgest island in Alaska and the seeond lacgest in the United States. About two-thi�ds of the [3oro�gh lies in the Kodiak archipelago with the remaining third on the Alaska Peninsula, across the Shelikof Strait from Kodiak IaLand. "Ihe Shelikof Strait is only 20 miles wide in places. �fhe IIorough encompusses 7,130 square miLes, maki�g it slightly smaller than thc State of Massachusetts and scrvcs a population of 13,81 l. 'I�he Borough ��as incorporated September 3Q ] 963, as a Second Class Aocough by Chapter 146 Sessions, I.aws oC Alzska 1961, as amended. �fhe powers gca�ted to the IIomugh includc area- wide powers and non area-wide powcrs. A�ea-wide powers arc health, cducatioq assessment and eollection of taxes for both the Borough and cilies withi� thc Borough, planning and zo�ing and general administrative services. Non area-wide powers include parks and recrention, economie development, solid waste disposnl, and aoimal control. Service disteicts within lhe Kodiak Island Borough provide tire protection, road maintc�ance and construction, and strcct lighting. A _ Mayor/Manager form ol� goverriment govems the Boeough. '1'he Mayor is elected at largc while the 13orough Assembly xppoints the Manager. The Assembly is composed of seven members who ace elected at-large. � The Rorough providee a full range of services induding fire protection, the constcuction and maintenance of roads and othe� in&astructure, eommuniry a�d eeonomie development, health � a�d sanitalioq culture and recreation and solid waste collection and disposal. "17ie Borough also is financially accountable for a legally sepacale sehool district which is reported separaLely within [he Borough's financial statements. Additional informatio� on this legally separatc entity — ean be found in the basic financial statements. "I'he nrinual budget scrves as the foundation for the Doroagh's fivancial planni�g and co�trol. All — depanments of the Borough are required to submit requests for appropriation to thc Borough Munager. The Rorough Ma�age� uses these requests as thc starling point for developing a p�oposed budget. The 6orough Manager theu pcesents this proposed budget to the Assembly for — ceview by April 30.'Ihe assembly is requircd to hold public hearings on [he proposed budget and to adopt a fin�l budget by no latcr than June 10. The appropriated budget is prepared by fund and departmenL "fhc Assembly makes appropriation transfers between funds and/or depanments only � ,., afte� the adoption of an ordinance. IIoro�gh staff may execute transfe�s behvec� line items within a department. Amendments to the budget can occur anytime during [hc fiscal year through the 6orough Assembly or administ�ative action. Expendilures may not legally exceed � app�opriations a[ the following levels: Capital Project Funds — project level, all other funds — department level. All funds, except Capital Projec[ P�nds, are budgeted on an annual basis encompassing a fiscal year. 6udgets of Capital Project Funds generally eucompass the period � from start-up to projeet complelion, which is gene�ally gceate� than one year. Budge[-to-acWal comparisons xre provided in this repoR fo� each individual govemmental and proprietary fund fur which an appropria[ed annual budget has been adopted. For the General Fund and the � Faeilities Special Revenue Fund, this compacison is presented on pages 69-71 as paR of required supplementary inPormation. For governmental funds, other than the Ge�eraL Fund a�d the Pacilities Spuial Revenue Fund, this compazison is p�esentcd in thc additio�af sopplementary � information subsection of this repori, wliich starts on page 73. Also included in the additional s�pplementary information subsection are the Education and Health Debt Service Fund budget to actuaL Cor proprietary funds, this comparison is pceseoted in the proprietary funds subsection of �' this report, which starts o� pagc 105. Factore Affecting Financial Condition � The information presented in the financial statements is perhaps best understood wheo it is co�sidered from the broader perspective of the specific enviroimient within whieh the Rorough operates. . Local ecouomy. 'Ihc economic condition of the Kodiak Island Borough remains healthy. "I'he main industries of thc Rorough are commercial fishing, logging, and to�rism. Whilc some `� se�nents of the eommereial fishing industry have decli�ed, others have giown. "Iherc have becn . large cutbacks in the logging industry, which can bc ettributed to the slowdown in the Asian � ceonomy. Tourism coiitinues to grow in Kodiak with an inercased number of visitors eaeh year. To accommodate this demand, construction of fishing lodges, bed and breakfast aecommodations and ceereational facilities has inereased along with an ine�ease in charter boat r and guide operations. There has also bcen an inerease in the number of cruise ships visiting Kodiak i� �ecen[ years as tlie cruise ship companies have expanded their tours of Alaska's coastal communities. Relatively new to the Kodiak Island Borough is thc aerospaee industry, which began with eonstruction of the Kodiak Launeh Complex in 1998. Owned by the Alaska Aerospace � Development Corporation (AADC), a public corpocation of the State of Alaska, the Kodiak Launeh eompiex is the first complete launch faciLity built i� the United States sinee the 1960's a�d the Hrst not ow�ed by the Federal Covernment. The stateof-the-art facility incl�des a launch � wnnol center, payload proeessing facility, spacecraft assembly building and launch pad. I[ is designed to handle small to medium sized rockets used to launch ]ow earth orbit satellites, as � well as military, scientific and research missions. Kodiak is home to the largest U.S. Coast Guard base in the country, employing �eazly 1,400 people a�d providing vital services to the marine industcies that are an integral pan of Kodiak's � make-up as wcll as making a significant contribution to the Kodiak community. 'fhe scafood industr}° is by far the Iazgest indusiry i� the Kodiak Island Borough. This ind�stry — includes commercial fishing fisheries research, management and enforcement, seafood processing, and maintenance and support serviees. Kodiak is home to the fugest port in the State, hoasing over 700 commcroial vessels and consistently ranks emong the top tcn ports in the � United Statcs in terms of amount and valuc of product delivered, ln Z01 Q the last year dala was avaifable, Kodiak was number lhree in the nation for number of pounds landed (325,OOQ000 pounds) and number three in the value of fish landed ($1 L4,682,1 S4). — Employment varies throughout the year with July, August, and September being the peak months due to the increased activity io the fisheries and related businesses, then declines in November � and Deeember when fisliing quotas ere reached. The local unemployment rate has fluctuated from 6.1 % to 8.6% over the las[ tive years, but the overall avcrage has remained around 7.0%. Long-term financial planning. Every year thc Borough adopts a five-year strategic plaa In this pla� the Borough decides what ils goals and objectivcs are for Ihe next tive years. The Borough hreaks these goals out based on our Mandatory and Adopted powers. To view the complete Strategic plan you can visit our web site et ww�v.kodiakak.us. Awards aod Aeknowledgements � The Government Tinance Officers Association of the United States and Canada (GPOA) awarded a CertiGeate uf Achievement for �xcellence in Pinancial Reporting to the Rorougli for its compcehensive annuaL Gnancial report (CAFR) for the fiscal year ended June 30, 2010. This was the twenty-seeond conseeutive year that the Borough has received this prestigious award. In order to be awacded a Certificate of Achievement, a government must publish an easily rcadable and efficiently organized comprehensive annuaf financial report. This ceport must satisfy both generally aceepted ¢ecounti�ig principles and applicable Iegal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our eurrent CAFR wntinues to mect the Certificate of Achievement Program's requiremcnts and we am sobmitting it to the GFOA to determioe its eligibiliry for anothcr certificate. _ The preparation of this report would no[ have been possible without the ef7icient and dedicated scrvices of the entire staff of lhe administration and finance department. We would like to � express our appreciation to all members of the department who assisted and contributed to the prepa�ation of this report. Credit mosl bc given to the mayor and thc assembly for their u�failing suppoR for maintaining the highesl s[andards of professionalism in the management of the — Borough`s &nances. Respcetfully submitted, �� c�� %�� .� _ Rick L. Gifford Kadeton G. Short Borough Mauager Directo� of Finance _ Certificate of ' Achievement - for Excellence in Financial Reporting ` Presented to _ Kodiak Island Borough _ Alaska For its Comprehensive Annual � Financial Report for tlie Fiscal Year Endeci � June 3Q 2010 A Certificate ofAchievement Cor Ezcellence in Finaricial Reporting is preseuled by rhe Goveroment Financc Officers � Association ofihe United States and Canada to govemment uuiLC and public employee retvemenf systcros whose compmheusive annual 6nmcial r repons (CAFRs) achieve the highest standards in govermienl accounvng and financial aporting. N�n""'�"' li• /�/ iMw�' _ President G� �� Executive Director 5 Kodiak Island Borough - Fiscal Year 2011 E�e«�,a,E - , - Borougp Mayoi BorwgY Hssemnly �. _ ._ -.. ___. ._.. . � Bomug'�A',:one�' 6vmi01 CerF � �i Bomuq�Ma�a9xi . . � .- '. � L . ...I FsSU:antCle�k pepM1yCmik ... . .. I. .___- .__. .._— __ . I � . I_ A 1 Fue � i Atln � a' � � G e�[�o � � � � � L � �� A I-m � Fngmceie�5' Commuot� Faaux� o��PC,or oF� mw�e i ,.,sessc� ersis o��e��, ��o.,ec�o� . . .. _ __ . � _ KFRC '. E �ionicn�ei . A cateP�anne� � '� . M t. �c SPeoalig ' LRP PioPe�9FP�'a e �. G .al .� � E ee• - .- �c atl H 1 PI A. �.. . I I 1 . � KFFC � � E � r�� T�f' � � / I. R Ftc�ist tl I!.a a�Jl � ��an , A °� B�e � MSO U a � S��erv o � O fl gT_A �uei H css e �Cie I �'' �'�=P Yate - u Superv so �micctManayev _ � T Ac2unpe.�Tpc� loapeclo� -� I - Secre�aryll; Peymll ��- MISNe:rmrv. Anm��s� au� Baier Ope, atoi II —� Fro�[vl Assis�anl -. Crvl�ca�e Ass-�anx � Balei Ope�aloi I-� AOmma�2�pr � Mzintanarce Bale� O � Wmk¢i � pPrafo- I � , Rev 8a�erOOeiatoil Amoun�anl � � Secrcla�)'Ip - � � I Pale qieamr II -' CazM1ier I Secretarvlll � � i� � _ r � � � MAYOR AND ASSEMBLY MEMBERS lerome Selby Mayor, 2013 Jerrol Friend Deputy Presiding Officer, At Large, 2012 CarolAurterman At Large, 2013 Dave Kaplan At Large, 2014 i � � f � ' � ^�� iy. � r :� P Mel Stephens At Large, 2014 7 TuckBonney At Large, 2014 ;��Ra I a. I � j � � Chri: Lynch At Large, 2012 t�` . �{�'r�:: 1� N� o e � _.i� ^ � Lauise Stutes At Larg¢, 2013 KODIAK ISLAND I?OROUGH KODIAIi. ALnSKA IiOROUGI I OFFICIALS YGAR ENDBDJUNE 30.?01I vIAYQR leirome Selbv ' 13 .4SSH11RI.T Cxrul Auslcrinan'13 lcrrn I Priend ' I � Chris I_�nuh'L I.ouisu tiwlc�' U Tuck Ranner'IJ U�rc Kaplan' N MJ Slephcm 'N .ViANAGFMLNI� Ric6 �i�fi�rd......_. ....__._ .._.___ .._.._._.....Roiuueh M;inn¢er __.. 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IIR Ufliccr'ilceculivc Assi+lanl h (This page was left blank intentionally) Financial Section _ �lltman, Rogers �COI CCRTIFI[D P�� A<�o��r�N„ Independent Auditore' Report � The Honorable Mayor and Members of the Asscmbly Kodiak Island Borough � Kodiak, Alaska We have audited ihe accompanying Fnancial stalements of the governmenffiI activities, the business-rype � activi[ies, the discre[ely presented component unit, each major fund, and the aggregale remai�ing fund infomiatioo of the Kodiak Island Borough, Alaska, as of and for �hc ycar ended June 3Q 20I l, which collec[ively comprise [he Borough's basic financial s[a[emen[s as listed in the [able of con[ents. These financial s[a[emen[s � are [he responsibility of the Kodiak Island Borough, Alaska's managemenL Our responsibility is to express opinions on these financial s[a[ements bascd un our audit. � Wc conduc[ed our audi[ in accordance with auditing s[andards generally accep[ed in the United Slales of Amcrica and the standards applicable to tinancial audi[s contained in Governnrent Audiling Sfandards issued by [he Comp�roller General of the Uni[ed Sta[es. Those s[andards require [ha[ we plan and peffortn the audi� lo ob[ain reasoneble assurance about whether the financial slatements are free of material missta[ement An audi� includes examining, on a test basis, evidence supporting the amounts a�d disclosures in the financial s[a[ements. M audit also includes asscssing the accounting principles used and significant estima4s made by managemen[, as well as evaluating [he ovcrall financial sta[ement presenta�ion. We believe [het our audit provides a reasonable � basis for our opinions. In our opinion, the financial statemen[s refemed to above present fairly, in all material respects, the respective � financial position ofthe govemmental ac[ivi[ies, the business-type activities, the diseretely presented component uni[, each major fund, and the aggregate remaining fund informa[ion of the Kodiak Island Borough, Alaska, as of Ju�e 3Q 201I, and the respeetive changes in financial position and cash flows, where applicable, thereof for [he � year then ended in conformity with accounting principles generally accepted in the United States of America. As diswssed in Note I I[o the flnancial statemen[s, the Borough adopted GASB S[a[ement No. 54 Fund Bulance Xepor(ing ond Governmenlal Fund Type Definilions as of and for the year ended June 3Q 201 I. In accordance with GovenmientAudiling.Standurds, we have also issued a report dated Pebruery 28, 2012 on our wnsidera[ion of the Kodiak Island Borough, Alaska's intemal control over financial reporting and on our tests of � its compliance with certain provisions of laws, regulntions, contracts, and granl agreemw[s and other matters. The purpose of that report is to describe the scope of our tes[ing of in[emal control over financial reporting and compliance and [he resul[s of that testing, and no[ [o provide an opinion on the in[emal control over financial r reporting or on compliance. That report is an integral part of an audi[ pedormed in accordance with Governmeir� Audiling Slondords and should be considered in assessing Ihe reults of our audit. The management's discussion and analysis on pages 12 through 21 and the budge[ary comparison inPonna[ion on � pages 69 through 72are not a required part of the basic financial sta[emen[s but are supplementary informa[ion required by accounting principles' generally accepted in [he Uni�ed States of America. We have applied certain � 10 JZh G S ect . e 500 A'.6 � Je. Aleska 9950I �'ho� )� =�42992 ! JO? L:J 2993 � Ot(res;n Juneau antl G�MOIra A Pmlessio,�al Co�por:dwn The Honorable Mayor and Members of the Asscmbly Kodiak Island l�orough limi[ed procedures, which consis[ed principally of inquiries of managemen[ regarding the methods of measuremen[ and presenta[ion of Ihe required supplementnry infomiation. However, we did no[ audit �he informa[ion and express no opinion on il. Our audit was conduc[ed for the purpose of forming opinions on the financial statemenis [hat coilectivcly wmprise the Kodiak Island Borough, Alaska's basic financial s[atemen�s. The accompanying additional supplementary information, as iden[ified in Ihe table of con[en[s, are presented for purposes of additional analvsis — and are not a required part oT lhe basic flnancial s[a[emenls. Sueh information has been subjected to [he auditing procedures applied in [he audi� of the basic �naneial s[eteme�ts and, in o�r opinioq is fairly s[ated in all ma[erial rcspects in relation �o the basic Enancial s[atements taken as a whole. The introduc�ory section and staiis[ical section, as iden�ified in �he table of contenis, have nol been subjccted to �he audi[ing procedures applied in �he audi! of the besic financial stalemencs and, accordingly, we express no opinion on them. � ��. , ,E� � � C�o. Anchorage . Alaska February 28, 2012 � � KOUTAK ISLAND ROROUGH Management's Discussion and Analysis Junc30.2011 As managcment of� Ihc Kodiak Island Borough, we offcr rwders of �hese finnncial siz[emcnts ihis nurrative r, overvicw and analysis oC lhe financial ectivities of thc Kodiak Island 6o�rough for thc fiscal year endcd June 3Q 2011. We encouragc readers [o consider thc information presented hcre in conjunction wilh additionai � inPonnation tliat we have Curnished in our letter of h�ansmitlal, which can be found on pages I- 5 of Ihis repor�. � financial Highlights • The assets ol the Kodiak Island Borough excecded its liabilities at the close of FY2011 by $165,192,321. � Of this amount, $48,232,803 (unreslricled nct assels) may be used to meet the Rorough's ongoing obligalions to citizens and crcditors. r • In PY201 I tlic Rornugh's tolal net assets inereased bv $2,694,882. • At the end of ihe cun�ent fiscal vear, Ihc I�o�rouy�'s governmental funds repor�cd combined fund balances � of $58,435,539. 'fhis was an inerease of $4,370,I49, compared to tlie nel ne� change in the prioryear oCa ., decrease of $5,081,025. At tlie end of FY2011, unassigned fund balance for the general fund was $1952,75Z 'fhis was 13%of [otal gcneral funA expenJitures. • The I3oiough's bonds payable inereased bp $5.255.U00. 'fhis was due to the issuance ofa $8,000900 bond � less payment of bond principal. . Overvicn� of the Financial Slalemenis � Governmen� wide Financial titatemenis The govcrnmcnl �ride financial sG�tcments arc dcsignetl to provide readers �+�ith n broad overvie�c of tlie Kodiak � Island 13orough's finances, in a manner similar to a private sector business. r The starement of net asscts presents information on all ot'ihc Kodiak Island L�orough's assets and Iiabililies. with . the difference be[ween the hvo rcported as net assets. Over time, incrcases or decmases in net assets may serve as a�useful indicator of whelher thc financial position of the Kodiak Island Dorough is improving or dcterioraling. r Thc sfatement of activities presents infonnalion showing how the governmcnPs net assets changed dwing the most recent fiscal year. All changes in nc� asse[s are reported as soon as the underlying even[ giving risc [o the r change occurs, regardless of the timing oCrclat�d cnsh flows. Thus. revenues and expcnscs ere reported in this statement for somc items that �cill only result in cash flows in futurc �scal periods. � Both of the governmau wide financial sta[emenls distinguish functions of the Kodiak Island Borough that are principally supported by laxes and intergovemmenlal ievcnues (eovemmental activi�ies) from other functions [ha[ are in[ended Io rewver all or a significant portion of their cos�s through user fees end charges (business-type activities). The govemmental activities of [he Kodiak Island L�orough inelude general government, public safety. � emergency preparedness, communiTy and economic developmen[, health end sanilation, educa[ion, euhure and recrea[ion, parks xnd recreation, service district main[enance and primary and secondary education. �fhc business-type activities of [he Kodiak Island Borougt� include a solid waste collection and disposal facility, a � Borough owned hospi�al, the Kodiak Pisheries Research CeNCr and a 91 I emergency system. The government wide financial statemenis include not only �he Kodiak Island Rorough itself (known as the � primary government), but also �hc legally separate school district for which the Kodiak Island Borough is finaneially accountable. Financial information for [his componen[ uni[ is reporled separa[ely from the fnancial inPormation presen[ed for the primaiy governmcnt itael(. 12 KODIAK 1FI,AND BOROUGII Mnnagemenl's Discussion anA Anfllysis June 30, 201 I Thc �ove�nmenl �e�ido Gnancinl slatemcnls am be found on pnges 23-24 oCthis repo�i. Fund Finaucial Statements �, A fund is a grouping of related awounts Ihat is uscd to maiutein comrol o��er resources thai hnve been segrcgated foi specifie aelfvilics or objectives. "Ihc Kodiak Island I3orougli, like ofhcr sta�e and loeal Eovenvneuts, uses fund accounting to ensurc and demonstra[c cnmpliance with finance relaled Iegal requirements. All of the fwids of the Kodiak Island BoroueL can be divided inlo hvo calegories: govemmental (unds aud proprietary funds. Coveromental Funds — Govemmental funds arc used �o accoun� for esscnlially the same funminns reporteA as � go��emmental aaivities iu Lhe government wide financial statemenls. However, unlike thc govcmmen� wfde sta�ements, goaernmentel lu�id linat�cial statemen�s fiicus' on near-term in(lows and outflous of spendabie resourecs as well as on balanecs of spendable resources available at the end o( (hc 17scal ye:�r. Such Inlunnntio� may bc uveful in evaluating a �ovcrnmenl's nearteim �nancing requiremenls. Because Ihc lbcus of go�-ernmcnlal lunds is uarrower than Ihal of the government widc Gnancial statement+. it is useful to eompare the infonnalion pr�sentecl Cor govemmen�al funds with similar informalion presented (or � goventmenlal activfties in the povernmcnL-�ride financinl statemenis. By doing so, readers may better understand thc long-�enn intpacL of [he goeanmenl�s ncar-tenu Cnancing deci�ions. Bo�h [he govermncnlal fw�d balance sitect a�d ;overnmenlal fund statement of rcvrnues. cxpendi[ures, aud changes in fund balances pro��de a " reconeiliatfo�i lo facililntc Ihls mmparison betwecn govert¢nental fimds and govertuncntal aelivities. Thc Kodiak lslaud Borough mainteins 28 individual goversunen[al fimds. InlormaGon is presenled separatety in � the govemmental fuud balaucc shee� ond in thc governmontnl fmid statcinent uf maenues, expendimr�s, and chan�es' in fuud balanecs for ihc Gcneral Pund, Ihe Ff�cililics Special Revenue Fund, (he Lducntion and Ilcnllh Deht Servicc Fund, the Sta�c ('apilal Grants Capftal Yroject Fimd, and Ihe Kodiak Iligh School Reno��ation Capital Projeel I'und, whlch are alI considcred to be major fu�ds. Dnta from tlic nther nu�major funds ere combincd into a single, aggrega�cd presentelion. Individual fund dala Cor ezch of these nnninajor government�l funds fs provided in Ihc fomi of combining tilalcments elsewhere in the supplementary infonnatiou s�rlion of this report. — 'Ihe Kodiak Island Borough adopls an annual approprialed budget Por ils Ge��ernl Fund, Special Revenuc Funds and Debt Semicc Funds. But3getnry comparison stnlomcnts have been pmvided for the funds to de�uonstrate — compliance with thie 6udge�. 'Phe bas'ic govemmertG�l financial s'latements can he found on pngcs 25 ?8 of Ihis reporl. Proprie[ary Fuuds — The only Proprictnry Fund type dta� Ihe Kodiak Island I3oirough uses is rn[eipdse funds. Enterynse funds arc used to report �he same Cunctions presenleA as business type activitiev in Ihe govemment widc financial stalemrnts. Propnetary Funds providc the samc rype of infomiation zs govemmcnt widc financial � slatements, only in morc dctaiL The Kodiak Island Rorough uses ente�prise funda lo account for a solid was�e collection and disposal faciliry, a Borough owneA hospital leased to the Sisters of Providence d.b.a. Vrovfdenec Kodiak Island Medical Cenlcr, ren�s and u�ilities of tlie 13orougL owned Kndiak Fisherics Researeh Cenler, and — 911 phone eharges znd expenses. "Phe Kodiak Island Rorough adopts an an�ual appropna[ed budget Cor its proprielary lunds. Budgetary comparison sta�emenls have been provided for �he Cunds- to demonstrale coixiplinnce with the budget. The basic Proprietary Cund financial statemenis cau be Cound on pages 29-32 of this report. 13 � r KODIAK ISLAND 130ROUGH ManagemenPs Discussion and �nalysis 1 une 30. 201 I No[es to the Basie Financial Statements — The notes provide addi[ional information that is essential [o a full understanding of the da�a provided in [he government wide and fund finencial statementr. The notes to the basic financial slatements can be found on pages 33-69 oC this repott. Other Informa[ion — In addition to the basic linancial statements and accompanying notes, this report also � presen[s certain required supplementary informa[ion including budge[ary comparison schedules Cor Uie Genecal Fund and the Fncilities Special Revenue Fund. Required supplemeniary infortnation ean be found on pages 70-73 oC Ihis report. � Government wide Financial Analysis Statemen� of Nel Assets r As noted cudier, nct asscts may servc over lime as a useful indicator of a govcrnmcnfs financial posilion. In Ihc � case of the Kodiak Isla�d Borough, assets escceded liabilities b}� $165,192,321 at the cluse of FY201 I, the most � recent fiscal year. 'Ihe ne[ assets of the component unit were $2.852371 a[ [he close oC FY201 I. , The largest portion of the Kodiak Island 6orough�s net assets ($I 16,959,518 or 71%) reflecls its investment in capilal assets (e.g. land, buildin�,s. equipment and infi�astruc[ure) net of related debL The Kodiak Island Borough �` uscs thcsc capi[al asscts Io provide services �o citizens; consequcnth�, [hese capi�al assets are not availablc for (uwre spending. Al�hough the Rorough`s imesunent in capital assets is reported net of deb[. it should be noted that the resources necded to repa} this debl mns� be provided Gom otlicr suun:es, since the capital assets � LhemselvescannotbeuseAtoliquidatc�hcscliahililies. � Um cntal xuvinesx-t��pe lctivilies Av�i�i�i<s -Intal � EU❑ P010 2 II� I 21110 2011 201U CLrtcnixnJmherassws E SY020,i2n S9.UY'1.913 1285].iJi II5y4,30i 91N9].992 R6RHA2tl9 Capitala,ccu IOtq�b995 1023i13]! 3?905021 38.(d5B54 IJ3.8"I4_916 IJLL992210 lomlessets $ 161.9tly223 159Ai628J Si1.963,Y65 Sf1,2J11,22N 215]5268A 20],fiR6.5i9 Lonp-termllabilf�ies $ 35,iyY,A2p 2g.g99.�31 ]BG8,121 6,9�2622 JiUJ?541 3q64693 Othcrlivblli�i�c 925J51 IJOZUII fi5tl],395 ].4J5.115 ],512826 N,542.125 Tnalliehiliucs $ 36,IOJN]I 3100C342 IAA55p96 14182Ti6 �Qsfi0,3fi� JSI89.0]8 Nct ass'LS' Invuted in cepital asmcs, ncl oi rclo�ed dcbi � Unmsvicted Totel net assets � $ tl1.98J,195 9?5A],045 J5,1]0,143 }(,,�Si,85y 116,959.SIR 114,101,9114 4]�9J9]] 48.9929W 1_U�826 (598}691 48,�2NO3 98.191,515 S 12XftAJ.l52 R6,iJ9,9JJ 3630]969 36,OSZ442 Ifi5.lY23L 162.49],0J9 For morc dctailcd information see Ihe stalemenl of nel assets on page 23. The remaining balance of nnrestricted ne� asscls, $48,232,803, may bc used (o meet the Borough�s ongoing obligations to citizcns and creAitors. 14 KODIAK ISLAND BOROUGH Statement afAcsivitics Year ended June 30,2011 See accompanying notes to finsincial statements. Tf pEgram Menues Net ex rise ) rev.d... and chap in net assets Operating Primsia g!vernmegit CBME2neol unit Charges for grants and Capital Governmental Busin ess-type - School Total reins split%, Functions/Programs services contributions -MR-ts activities activities Total District 2011 2010 Primarygoversiment: Govermigental activities: General govemment S 5,109.232 658,463 - - (4,430,769) (4,450769) (4,450,769) (3 766,604) Public safety 664.349 33,755 27-299 - (609.296) (609.296) (608,296) (572,776) Emaggency gicciourdness 11.705 - - - (13.705) c (11.705) (11,705) (10.511) Community and cooriontic development 1.211,189 19,274 3,243,219 2,949,304 2,049.304 2,049,304 1,376,12-1 Health and sanuafian d 392,0 11 105.6% (2116,315) 1236,315) (296,315) 000.392) Educuon, culture and Mcrcation 93,690 - - (R5�690) (35,690) (B5,690) (192,lgz) Parks and recreation 13,625 - 113,623) (13625) (13,625) Service district maintenance 593.399 27-600 (365,739) (565.788) (565a788) (518,1102) Prunary and secondary education 12,934,349 (12,934,349) - (12,934,349) - 12,934,349) (9.291.3303 Interest on long-term debt I.3fi8052 2, IJ8.39 640341 - 640,341 - 640341 803560' Total governmental activities 22,423.590 719,819 1293.661 3,24 1.219 16, 166 892) - Q6,166.992? - (16;166,992) _U1,472,9151 Business-typc activilics- Municipal solid to collection and di sal 2j92,132 $397,979 m - 205-947 205,847- 205,547 67,221 Hospital facilities 1,027615 720,000 (307;613) (307,615) - 1307,6151 832.976 Kodiak Fisheries Research Center 1,947,427 2,018j47 171,320 171,320 - 171,320 (316,803) 911 Services 53,041 53,041 - - - ToW business-rypc sciivitics 5,120,215 5,189767 69,552 69.552 - 69.552 583,396 Total p6mitty govenimcni: 27,543,905 5,909,505 7-295.661 3-241,219 -J]6.166,9921 116,097j4OL LL .039.529L Component unit - School district S 50.909.173 243,233 11.244-104 - (39,419,856) (39,419,856) (33-569,398) Gencral revenues Property taxes 11,945.103 11,945,103 - 11,945,103 11.051,786 Grants and entitlements not restricted B o a pecific 3,642, 009 3,642,DD9 27.599,711 31,231,720 29,720.939 1ATW sales 2,383 2,383 - 2,383 760 Severance taxes 1,649,275 1.649.275 - 1.649.275 1,336,075 Support from primary government - - 9,494,388 9,494.389 10.290,350 ("her 739,113 739,113 361,771 1,103884 1,107,399 Inverfmcm canungs 713,414 100,925 914,339 - $14,339 1,457,269 Tracifm 10,000 - Total pencind revenisgis and transfers 18.611,297 190,925 15.792 222 37448,970 56.241.092 54,924.431 Change in met assets 2,444,405 250,477 2,694,882 (1,970,996) 723,896 9.465,514 No as sets. at beginning ofycar 126,439,947 36,057.492 161497,439 4,823.3157 167.320,796 136.855.282 Net asscL% at end of year S 129,994,352 X307.%9 165,192.321 1951371 --F68,044,692 167.3207% See accompanying notes to finsincial statements. Tf KODIAK ISLAND BOROUGH Balance Short Goveramcmall Funds June 30.2x911 (With summarized fines al snfsmabon for The year aided June 30, 2010) See wwavianYtas Mies No finwicial statements w Education CA hal I'm ad Fonds Far law and Ileallh laic a Other Special Debi Service capital Schaaf Governmental Totals Assns Georrall Revroue Fund Fund Gratis Renovation Funds --- TOM And& Equity inowdralimstay 3,313,28a 33,024,106 7,96D 483,406 7,403.995 10,661,270 56,294,725 49,222,436 Receivables, State ormuka 77,290 397,366 451,R69 93,559 1,027,094 4,677,996 Ferfaul Goverwrient 2$1,230 251,230 379,530 Properly talso, nrtor allawarice o(S15,828 126,338 %777 136,115 207,544 sm"we taxes 453,079 453,026 355,,360 Lmw salas oardmas 12,671 12,671 11,077 Accounts and other mrsvivables, no 2,792 24,160 53,579 90,52t 96,127 Prepaid hem 6,903 979 7,610 15,703 Due from sillier funds 773 27 1,211, 909 2 1,950,186 3,447,014 Land uk2 curamos, due aftor arm year 21,704 21,704 34,342 Advances, shat funds . ............................... ............ 5,097,904 . .................................. . . ........................... ..... .......... .................................. ........... ..... 5 09�7806 $61.1,261 Tond S _,6 7f7 04 39334521 401326 ....................... 961435 U ..................... 740399 .................... i ............ 6- 1 11"109&671 61912.112 61i)55.M Limbillples mad Feed Nalmatts U&NEws nag p a 492,109 158,455 200,467 942,790 1,,723,921 1,=477S Rmakiages payable - - 243,787 Accrued comparmation raw Famed hambuts 220,229 220,229 226.560 cullomadepoails 150 ISO 1,253 Doe to component unit 3,919,549 3,919,,549 4,956,949 [hit No other funds 2,592 400,,000 9$7,219 1,359,50I 2.922,843 Ddared revenues 12-3 77 �T O30 7S 27480 ........................................ �43 561 273S63 334,529 Tomal liabRisies 4.7�59246 75,03E n . ........ �215 935 �200 467 1,643.727 __jjL 213 9 �993 600 Fund balances Nonsimsdable fi,$03 21,704 23,505 508045 Caffiveried 39,255.683 5,326 m5,w 7,203.528 100423,372 37,6330409 5Z453,171 Unassiumd 1 _,a52 757 . . . ....... . . ........ 3321 773 625 1561474 Total Fard behimcm 1,959,55E w 39 �255 683 5.326 �745 500 �Z20) $28 9,265.944_ $5435 $39 34 65,390 Total 1 6717504 39,334,521 1.0"1116 9.61,411 740.1,,991 11"109611 712 64,051, 90 9 See wwavianYtas Mies No finwicial statements w m HOMMEMWI, 120,945 92,750 21,704 135,670 371,069 KOMK JSIANO boitoucai Slat chent afRCMWM Fix pe"lums and Changes in Fund lialatices (Delicks) Govern ntonal Funds You ended Jum 30, 2011 (With summarizcd linanchd Wormstion for they ended June 30, 201 a) Education Cx tal Pro eel Fundo ForMiks and 11callb Slate Kodiak High other sporial Debi Senate Capital School Gormoveriled Torok General Revenue Fund Fund QMpts Renovation Funds 2011 2010 RLYmu= pro,porty taxes and anewmemls S 10,763,557 1,146,249 11, 10,"3.175 Transient sconornahiflons tax 96,394 96,334 36,003 severar4claxes 1,649,273 1,649,275 1,336,075 Interpowerturanual Stole sources 2,106,342 2,148,393 2,667,097 107,352 7,029,694 10,610XI Federal soumn 1,535,167 233,904 380,134 2,149,205 2.338,468 chmsuel rot wrvie". 2,227 612,519 614,745 662,629 IjC==% pancis and few 72,394 32,679 105,073 103,364 Investment income (21,628) 651,417 OMI) 1,356 14,161 69,120 706,677 1,223,939 Other �335 009 �92 992 �92 759 �72D 659 �439 412 Total mverves 36 __b42 942 n5l 417 2°340,641 2 n95 251 l4 161 2,537,995 14 99 l503 27 _,S15 495 Experoburcs: Clintcal Gconal sovernmem 3,795,536 21,959 1,000,792 4810,297 4,600,601 Public Urray 94,125 433,498 537,623 502,493 Commav and ocowaric dCVrJDPMCU 1,110,114 603 ,075 1211,159 1,034696 Emergency preparedrims 11.705 - 11,705 8,011 Health and sardamica dejartmCul 296,315 105,69 392,011 371,321 EdUCANion, cultum and Mutation 85,690 95,690 192,192 Pinks &W recreation 13,623 13,625 Service dharo:l Maintenance 593,382 593,382 543,997 Pfiruny ad secondary education 10,127,350 10,127,350 9,900,350 Capitol outlay sdotols 606,155 1,074.914 1,851,069 7,351.932 Gff"A Dtht scovkc: 2,926,205 1,913.447 4,839,652 4319,439 prindpal 2,7$0,690 - Z750,69D 2,685,06 Interim 1,237,422 5,223 1,292,645 1,356,572 tk�m issuance costs 44,619 - 40,669 Total ex mares 15 �514 460 4, 071 2 �926 205 �"6 1" 5,243.03} 28 �595 613 _I2.955 �387 Excran (deficiency) af acv croms over (under) expciulliums 1 �128 382 �651 417 -IM9-4-291 �69 046 --JUL62-31- -I2,I90-8-31L -I3,514-1051- --ffioo,�0751 Otbor financing wavrces (Uses): Proceeds from ask or bows - 9,049,233 - 8,049,233 LOW late procrods 15,021 15.021 138,967 Trucifine in 1,902,500 1,979,789 3,782,289 3,211,195 TransrW out I NDDL -ILM-- U&933L ........ 9LRs6L 2 AN � Net other fa tang -JI.H --EM -22-91 -19-51 mate" CURS) -i1,55t-52.01- --LM-93-3L 1 �902 500 ------ 9,049,233 �344 954 7"194,253 �ss s67 change in fund balances (423,113) (109.5161 416,9291 69,046 7,216,550 12,365,9941 4,370,$49 (5,081,025) Ford balsaces (deficit), at beginning ofivar 2,332 ,676 39,365,199 �22 235 �676 454 L3_ 022L 11 �631 128 54065390 39.646.415 Fund babactol, at eW ory S 1&9.1.9 _ III _19 1 6 11 , 1 16 141100 7,203,326 9265944 5.8,435539 _ 34,065390 KODIAK ISLAND BOROUGH Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits) of Governmental Funds to the Statement of Activities Year ended June 30, 2011 (With summarized financial information for the year ended June 30, 2010) Net change in fund balances — total governmental funds Change in net assets of governmental activities 27 $ 4,370,149 6,773,296 (3,150,877) 3,622,419 120,945 92,750 21.704 235,399 (182,032) (86,013) (34,342) (302,387) (22,151) 2,444,405 KODIAK ISLAND BOROUGH statement of Net Assets Proprietary Funds Business - Type Activities - Enterprise Funds Year ended June 30, 2011 (With summarized financial information for the year ended June 30, 2010) Atunicipol Kodiak Other Solid Waste Fisheries Noomajor Collection and Hospital Research Enterprise Totals Assets ---- Disposal Facilities Center Fund Current assets Equity in central treasury 6,364,799 1,494,282 3,592A96 45,607 11,497,584 10,525,760 Customer receivables 232,129 686 4,355 237,170 691,607 Accounts receivable - State of Alaska 845,783 845,783 100,()00 Due from other funds ---------------- 2.580 2,580 Total current assets 7,442.711 1,496,862 ____3,593,582 ----49.962 12,583,117 11,317,367 Inventories - 277,007 277,007 277,007 Capital assets � Non-depreciable 3,177,300 6,017,637 9,194,937 8,405,196 Depreciable, net 3.027.368 14,337,056 11.346,560 m, 28,710,984 30.240.658 Total capital assets 6,204,668 20.354.693 11,346,560 37.905,921 38,645,954 Total noncurrent assets 6.204.668 20.631.700 11,346,560 38,182,928 Total S 13.647,379 22,128.562 14-940,142 49,962 50.766. 04 5 _18-922,861 50,240,228 Liabilities and Net Assets Current liabilities: Accounts payable S 121,197 108,000 46,177 49,962 325,336 335,683 Accrued compensation and related liabilities 64,488 - 26,799 91,297 91,297 Other accrued liabilities 482,559 - 482,559 532,169 Current portion of advances from other funds - 73,455 440,000 513,453 480,603 Due to other funds 675 - 78,837 79,512 143,569 Unearned revenues 240,543 Total current liabilities 669,919 181.455 591,813 49,962 1,492,149 1,923.953 Noncurrent liabilities: Notes payable Advances from other flands 2,735,778 1,032,806 4,065,000 2,735,778 5,097,806 1.999,995 5,611,261 Accrual for landfill closure and posiclosute costs 5.132.343 5,132.343 4,757,627 Total noncurrent liabilities 7,868.121 --L0-32.806 -.-4-.063,0()0 12,965,927 12,358,883 Total liabilities 8.537,040 ---1,2-14.261 4,656,813 19.962 14.458,076 14,182,736 Net assets: Invested in capital assets, net ofrelated debt 3,468,890 20,354,693 11,346,560 - 35,170,143 36,655,959 Unrestricted 1,641.449 559.609 (1.063-231) _1,I37.826 (28.367) Total net assets 5,110.339 20,914,301 10,283,329 ........... . - 36,307,969 36.057.492 Total S 13,647,379 22,128,562 14.940,142 49.962 50.766,045 50,240,228 KODIAK ISLAND BOROUGH Managemcnfs Discuseion e�id Analysis June 3Q 201 I Statement of Activities The following condensed �able of changes in not asse7s displays thc revenues and expenses for the current ;md prior �ear. u.�. . r��u*� �,.� > a�m.R in„�r�„<<�; OVvnlioF!'�ani�aoJconnl0uuriu <:ivnni w�ie oa�ai �. r��.�<n c� ,�a.�nn.,,� .�.,i��.�m rni.��u = io,na�n«.�p,„�� i :��a xain ti � w m..,. oi I nR 9 I `u u LI♦ G[ncial pnvemmrn� r��er,�„rM� i�.�i�n.i��. p,rpa2e�.a. rrn��m�� a �:o�o��nr,d��„��n I IoaliM1 anJ xnusiun Jepmm�:m [d�,�� dmresm�,��o,�o� r��w m�o�a,aar �� t i r i... d�� a��a„ I I f-nmtld.l v i i �e � i<, u ��in,�r.�..,i �i i ii i netiri �u�,�mic e Ylise�i. o�aleapn �. ( IrenPV in nci a�sev �e�ire biinrcvumli�e �a�r�. Clianfel n rvy. Nn FJ�µinuinpof�car p'u a�� J o(vrar co...�m.�mi.a�.;ra o�.m.�4n�. '.i��y rm.i zm� mm — smi znm xmi min S ]IqXIX O.II.IYi $Jtl9.]6' .X'16I�8 •_9V9�£N: XlI�XIII a2s:�ci »oeJw nai i�p +ulzio orix,ne :;.i:rv zao a-iRVVx iiw.io: iinsi�m - ii�i.i..n, ii�i:i,i�� _nuooe �uevna�. z;e: enr� �.an_ooa aaxveaR �-= i.',i.n;. �.�x: - e.iu - i.�.,: i..n.n� GI9�9JN �iaaia ois�ai � K i '�r. i we :um ei�ua�� i�i. „x '_IW]99. �•tlXVP'/4 _2 6aJ 809�v: 0 8(�N9 5J09'P JJ99A6 J{IWI. LNiJ9 612�90: ��:� � ��uv ne��.- iim� ioqi ivue m.�ii 13111%a IIIiIfi80 1211JBa �nynB6 2011 q000B% — v2llll �Ileukl ,S�o9u la'J81 • nyr - io-ix� .�avae ��i;.n�i� i. _. I`Ay1lqY I P)L�91 '-d� -J �� I AiJ. ya I I. fi01 I c0.40�' I-iLl16B _ %.3: I .UUi `.IYJi� I�Yi.IAk �I:) I p-.H% in)P,m� La;SJpu i_mxuis ir iar,�� yno ixiz�z; irn,.,rco SAWI �i2d�J PG11 1V'-0 Y'..�1_F90 ]In:n100 <J]Il.li ?j%xP? ]il;xLL� 28 ;'? �` z.slaaos rs.xanq ivu�r, �xu, aowxx� z.ni�.°�x �xunuu ianuun eouuu C0.000 4A�J0< i.15 IIJ]) %IAC� YIRh2 ♦ I A:lall IUli.IT _60. A2 .19i1A:a Il�{9yJU I_JN�I1�1�1 S RNURJi2 I_fiaaiWl lolt9'aa - - 16S19L?21 IGy4Y]J1v Governmental activities increased [he Kodiak IslanJ Rorough's net assets by $2,444.405 . The major differences in revenucs were an incrcxse of $R93,363 in propem� Wses due to properly re-appraisals. $313,200 in scvcrance taxes due to a guod fishing ycar x�d a decreasc in inves[men� carnings of $SOSJ87 due to a dccline in the ovcrall market. There wcre some major changes in expenses including n increase of $629,5 I7 in gcneral governinent cansed by filling vacant positions and mam immatcrial small chnnges. 15 � KOUTAK ISLA�U BOROUCB Mnnaccincnl'. Uiuus�inn end Anah�i� " � Junc:O.'_UII ' Rusinc,s lypc nc�i� ilics incrca.cd Ihc FoAiak Island Horough'+ nc� assci. h�' S�i0.477. cumparcJ iu Tn incrct��c r. of $S61.d5; in �hc prior ��car. Thcrc �rerc no maiorchangcs. Expenses and Program Revenues Governmental Activities � �iuo��ot, . r �u�wu�u r�,�.�.�.� - yx . � e,n�., .� � .s _� _ JI � ��,�_,.:r�� ta„<„��, _ ,.o,<m�e, a e„ �.,EO, .,� o, a.�. ��, .a...�,n .,�.�.,,,. � For more dc�ailcd inli�rmalion scc �hc s�alcmcnt o(adieitics on p;ige 2-1. Financinl Anal��sis of Ihe GocernmenPs FunJs r A+ noled enrlier. Ihe Fodiak Island l3urough ux� IiinJ accounting lo rnsure nnd demonsirate compliance �vith linnnce relaled Icgfll rcyuiremenis. � Gocernmental funds— lhe �ocus o1 Ihe IkoJIaA Island Borough�s gocernmeNnl �imA+ is lo provide iN2ttmalion on neao-tenn inllo��s, nutilrncs, and balances of spendable resotuce.. Such infomialion is useful in a.sessing Ihe Kodiak Island 13nrnugifs fnancing requlrements. In particular. unreserved fund balance mac save a,. a usellJ � meesure ol a povernmenfs net rc�uurces avuiloble for spcnding at the end of the Gscal ��ear. �� ul Ihc cnd ol Ihc currcm fiscnl �car. �hc I:odi2k Islnnd L3orou_h's co�cnmicutal lunds rcpuncd comhiucJ � cnJine liind 621anccs o� E2YJ7�.� �9_ ,ip incrcesc of Sq.;70.IJ9 in comparitinn lo Ihc bcgfnnfng of Ihc ccer_ 5'_RSOS ol Ihi. lotal :unnunl conslnulc, nompendaMc funJ balancc $57.fi13.d09 i, comntiucJ lund blan.c and S7il.G2�i. unnscieneA fund halanec. Ifi K011IAK Iti1,AM1�D BOROUGH Mtinayement's Di��cussinn tind AnalY�sis June 30, �01 I 'I�hc main rcosons tur thfs increasc arc as fiillows: • $QOOU,000 was icalizcd on the salc of;� ecncral obligation hond. • Inlerat carnlnes were $51 �7 2S 1 Iess Ihan last vcur. Getsrul gocemmem expeuditure.v �t�cre 54.359.7JI Iess than Ih�n 1'nst ycar duc mninl�� to les's' sehool construction. "fhe Gcncral Ptmd is the main upera�inp tund ol ihe KoJi�k ]sland Boruuph. AI the end of �hc cwren� f�scal e�ear. unspcndablc fund balancc of �Lc Grncral Fund was S6.fi01 wi�h unatislgncd liind bulance u( $1 9i2J57 [or a tolal lund balnnce uf $1,95y,5ig_ ,q� � incusure nt the (iencrul Pund's liquidil�. il mnc be u�efi�l In cunipnre fund balunce lu lulal expendlrt�res. UnastiigncA fund balancc reprcernis 1}°-.0 ofio�al GencrAl Fund expendi�un;s. � 7'he fund balnncc of �hc Kodiuk IslxnJ 13oroueh�s Genertil Fund decrcused by $4?lJ I S during Hie current Ilecal year. llic kcy lacior Iaidlne to Ihiti Jccrense was a budgeicd us'e of unresened Il�nd balance to balancc thc 1�Y'?011 budgct_ lhe tund halancc o! Ihe RodlaA Island Rorou�h�s Pacilfics Special Rerenue I'und dep'caseJ b� 5109 s I G during thc cun'en� fiscnl ycar. The key tac�or Ieading lo �liis decreasc was poor fnvcstmenl carninys. 7he fund beil�incc u(the Kodiak Iclaud Rnruuph�s Gducanmt and I lcahh Deht Sen icc FunJ Jccreased b�� :61(� 9'_9 Juring the cunem Ilscal year. l he kev Iziclor Iceding to ihls Jccrea+c �ras a budge�cd use ol unrescneA (und heln�cc to b,ilancc ihc P1201 I budee�. 'Ihe ]und balanec ol �hc 4:odiak Islnnd 13orou�h-ti S(ale Capital Grnnts incrcased b�� 9;G9.OaG Juring the cun�m — �iscal year.'I�he kcy (udnr Icadine to this �reti an iucreas'e in Smte of Alaskzi eran� rerenues. fhe fund balnnee of �hc Kodiak Island I;orough's Kodiak High Schoul Renuvation ineroased b� S7:'Ib.�SU during Ihc cwrem fisct�l ��car. Ilie key fac�or leadine lo this' incrca<c was zi bond issussance In �Lc amount ot $S,pq9,?3?. "1'he p�roj�i will s'tan in fiscal ycar 2UI2 �nd Ihe fund b�l.�nec will be spent drnan in (ww'c ycars ao Ihc proln'� is complelcd. � Propric�an' Pandc � l�hc KodinA Island f3orough'. propriaan� fund� prucidc Ihe sumc t�pc u! in(o�motion found in Ihe povemmen� �cide Ilnnucial statements. bul in more detall. Ncl asseh al Ihc �4unicipal SoGd Was�c Collcctlon and Uispusnl flind amo�nlcd �o $?.110,339_ Ihc Ilospli;il PHCilitics tund amounlcJ lo 520,914.30L �hc Kodiak Pfsherics Rescare6 Crnter Ilmd amuunted Io 510.2fi3,7?9 nnd 16c 91 I Se�zSces limd amounled to 0. 'I�hc Iui:il fncmase in nci a�scls for (lic Municip:il SoliJ Wasic CoIIccllon and Disposal fund �v2y S?77.068. "I hc Iolal decrcasc in nct asscl< lin' Ihe Ilua�iWl Faeilfiiec IimJ ¢'as $�25,6L'. TLc lo�al increase in nci asscis for �hc Iiodiak Pishcrics Reswrch Cemer o�as 5199,0�1. 'I�he aascis In the 91 I Sen�iccs 1'ut�d dfd no1 chanec. O�hcr lactrn's conce�ninL Ihe linances u( ihesc Ibur Cunds havc 21rcad}' bee�� addressed in Ihc discuesfon ol Ihc Kodlek 191and Uomueh's husincss-�ypc ac�iviGcs. 17 c j I L � ` � � C C Y � V C C � � � � 1 as00000 au00000 � 35000W 3000000 �son000 z000000 �50000� �0000�o 5oo�a� � Munidpal Solitl WaS�c KODIAK ISLANU ROROUCH Munu�emenl's Ui.cussion and Anal�>i. June 30 °011 2011 Program Revenue vs Expense Proprietary Operations Hospital Kodiak Facilitiet Fishenes Reseaidi Center � 9ll Service e Program Revenue c Progiam 4xponsc Gcncral Fund 13udgetarp HighliFhls Dfl�li•renecs hel��een ihe origlnal budget and flnal amended budgd can bc briclly summari�rd as lollu��s'. • 'l�he re<enue hudgei Ibr real prupenc ia� �ras decrensed S?GA00. • The revenue budeet (or personal pmpertc ta� �vas decrensed $I OR.01111. • l�hcrc�-cnucbudgelfurs�atcrevenucsharingremainedcnnstant. • lhc rcecnuc hudec� fnr ��nlc ra�� fi>h la.� oe. JccrcascJ bv $Ui.615 . • lhe recenue budeet (or �ish and �� ildlite rcenue shniina remain const.int. • �I�hc rcvcnuc buJect liir iueeslincnl iucuine deereased bt'S"_00_000. • lhe esptndilure budga for Ihe I!ngfncering/IaclllGcs depnitmenl remaineJ cnns�anl. • l�he e�penJilure bud_et lix I Icallh :md sanimtiai depmtmem increused h� $I ft., I5. • lhe c�ptnJilure hud�et IJr I!Jucaiion. cuhure nnd irncnliun dec�ca.eJ b� RIR36. • lhecspcndimm hudEct I�x I:ndial. ('olkgc �nd cit� libinric� dcara,cd bc �Y,G UOU. IH 6UIIUA LC1.1V D MOHOfGII \wiun.ni�tl[dM1 Now Ympucry✓� IonJo Ilusmett.l.pv {.uum.-LnpTlai+e PnodvACwtomudl \InniJipxl linillnk UM1n CuliJPar4 Vis�nies \omm�jor Cullea nil IlnsPi�'el Nr. rrM1 Yn erp�ia lolvl.s Yr�n rv n � -e I�� mvl Y'nrilluc. Cem , 1'unU L011 _ E01� _ R�rnalianon ef opaxiinF�^.�'^m Jeu n.. u.i mliprv�WnlF�vpa inpim Opn�.urvFivainrvllonyv� 8 ..fil ilc�]Jnl JB194! '111u%M1 �RLNNf� ,AJin �ulevpu eJ�.r. ;NM1prcniANb�opv � nmu ��UaP�cdwien _%OSIt. NGN_ JO IiMO R%i I."J il tiumo(.VT.4aoiWuLallprt.m.�nrc I.I'n.l �S.N%i �I.. dmiwl loi IonJlill d��o¢ unJ � �¢ �...i.i��..�t�.�.�, nnic . za-io .n�za �'Lw xoJlmFiLUUiM1:n prruAatllinWl.o.M1 lm eclJec (oamm� �M1lf�� -�.le I�I_f�n il4] 1'1.:..1 d�11?' ��Il��i .ablc-SiwcolAluAn I�1�]NT �y�'M� In. viJu� .�In�liduLUC. iF�n.ublc 1'�Rfiii4 _n f/J IX {ll ._ 'nE i14:JP1 I°J8 B]ii dti uJC mpen iunJ ¢binllmFilnief �,dUl nn��ie�..�,.d r,�r;ei��. ia4aim or�a�� rc� rncmomm�cn�s i=_Jiisa;i rzlquL 3vsL Fd caa� pemitleE�urcAib> opm'en�µncu�mu. F 'OJx A�'_]G Y9J.N4 3uWi I.5!:Ill ymv..mpun t oe5m6n:mcial.�muoun. H KOUTAK ISLAND I30ROUGH Notes �u Rasic Financial Statements Junc 30,'_01 I .. Q) Summary, ofSigoificantACCODUtingPolicies (nJ Repnrtiag Errtily ► 'Phe Kodiok Island 6orough (�hc 6orough), Alask;� �vas organizcd [o perform thc municipal duties allowed by Alnska Statules and as directed by ils residents. As rtyuired by accounling principles generally aceepleA in the United S�ates of Amcrica, these financial stotements present [he � guvernment and its componen[ unil, an entiq� for which thc govcrnment is considered to tre financially aceountable. The discretely presenLeA enmponent unit is reponed in a separa�e column in � both thc govemmcnl-wide and fund financial stutements lo emphasize it is legally separate from �he � gnvemmcnL The Rorough reviewed iis relationship wifh other organizations and determined that Ihe Collowing orgnnization is A component uni�. lliscretcl,y Presented Compunen[ Unil "Che I3orough has delega[ed the operating responsibilih� for public education to �he Kodiak Island Borough School Distriet (School District). In accordance wi[h statutes, the Borough retains ownership of �he education rela�ed cnpital assels and incurs the deM, iC necessary, to fi�ance [he � aequisilion and construc[ion of school facilities. 'fhe 6orough Assembly approves [he to(al annual . budge� of the School District and may, during the year, increase or decrease the to[al appmpria[ion. ti. Complelc finnncial s[atemcnls for tlic component unit mav be obtained at Ihe entity's adminis[rative offices fnr �hc Kodink Island Borough School Disfrict. ,� Kodiak Island l3orough School Distric[ 722 Mill Bay Road Kodiek, Alaska 99615 " (b) CovernnienaWrde med Fund FinaiecialS[olements The govemment widc financial sla�cments (i.e., the statement of net assets and the sta�ement of � activities) repott infonnalion on ell of the activities of Ihe primary government and its component unit. For the most part, the effect of intco-Cund activity has been remwed from �hese statemenls. GovemmeNal nc�ivities, which normally are supported by laxcs and intergovemmental revenues, are reported separalely from business type activi�ies, which rely to a significant extent on fees and � charges for supporl. Likcwise, lhe primary government is reported seperately from [he legally separa[e eomponent unit for which the primary government is financially awoumable. � "fhe statement of ac�ivities demonslrates Ihe degree to which tlie direct cxpenses of a given funetion or segment are ofTse� bv program revenues. Direct expenses are those that are clearly identiftable with a specific funetion or segmenL Program revenues indude I) charges [o wstomers or applican�s � who purchase, use, or directly benefit (rom goods, services, or privileges provided by a given funetion or segme�u and 2) grants and contribulions that are roslricted to mee6ng the opera�ional or capital requirements oC a particular function or seg�nem. Tases and other items no[ propedy included � among program revenues are reported instead ns general rcvenues. 32 KODIAK ISLANU BOROUGII NoTes to I3asic �inancial Slntemcnts. Continued Separate 5nancial stalcmcniy are provideA for povernmenlal funds nnd proprietary lunds. Majnr individual guvernmeNal lunds and major individual en�crprise funds, if applicable_ nrc reponed ns separete culumns in �he fund financial sta�emenls. (e) Measnrement FocueS Basis of Acrnun(irtg, nnAFLrnnrinl Stnlemeirt Presenlnlion The governmcnt-wide fina�cial s�atements arc repuiled using the economic resuurccs measurement focus and �he ncm�ual basis of accounting, as ere Ihc proprietary fund financial �Yntemente. Revenucs arc rceorAcd when earned and espenscs arc rewrded when a liability iv incurrcA. regardless oC [hc liming of rclnted cash Flows. Pmperty taxes am recognized as revenue� in the }'ear for �vhich tliec are levied. Grants and similar ilcros erc recognizzd as rcvenue ns soun as all eligibfliq� requirements have been inet. (iocernmenial hmd linancial stnlements are rcported using �he curmn[ financial resources measurernen� (ocus anJ �he inodifcd acerual basis of accouNing. Revenues nre recognized av soon ae �hcy are bolh mcasurable and avuilablc. Revenues are considcrcd to be available when [hec are collutible �vilhin �he curcent period or soon enough Iherenfter Lo pay liabilities oCthe current period. For Ihis purpose, the govemment considers revenues lo be available if they are wllected within 60 days of the end of the curren[ fiscnl period except for grmn revenues which are recognized when Ihc rdaled expenditure is incurred irtespective of �vhen the eash is received Gxpendilures generallv are reeorded �vhen n liabilily is incurred, as under aeaual accuuNing. However_ debt scrvice expendih�res, as well as espendi�ures rela�ed to compensated nbsenca and claims and judgmcnts. are recorded only when paymen� ic due. ProperN taxes nnd interesl assoeiated wi[h [he curr�nl liscal period are all considered Io be susceptible lo aca�ual and have been rewgnized as revenues of the current fiscal perio�. All other revenue i�ans are considered m be measurable anA availahle onlv when cash is nccived hv the govcrnmcnt. The goveriimenl reports Hie following major govenvnental funds: The Generul F�o�d is the govemmenl's primnry opera�ing fund. It accounLS (or all 1 inaneial resources of the gencml government. exccpl �hose requircA to be accounted for in ano�her fund. 'ihe Faci/ilics Sjieciol Revenue Fund accounts for the proceeds from �he sale of Shuyak Island. The singic most important goal is to preserve the principal of Iho fund InLeres[ enrnings, after inila�ion proofing, can be uscd (ur debt service, building insurance and capi[al projec[s. The Edncnlion mid Hra6h Debl paymen[ of iNerest and principal payable exclusively from special governmen[ en[crprise fund. Service Fmrd was es[ablished to finence and account fnr �he on all gcneral oMiga[ion debis. serial and terni, other than thnt assessments and revenue deb� issued for and s'erviced by a The Stnle Copifo/ Gi�mns Cupila/ Projec( lYmd accoim�s for the cons[ruction and mejor maintenancc activities for �he Rorough fimded through �ederal. Staie and locnl sources. 33 � KODIAK ISLAND BOROUGfI Notes to Bnsic Financial Sta�ements, Continued The Kodiuk High Schnnl Renoration Cupitrd Projec/ I�und accounls for the conslmetion and major � mainlenance activities for �he [3orougli e educalional facilities Cunded by school bonds. The govcrnment repons �hc folloo�ing major pmprietary funds: � The Mimicrp�d Solid 4I'osie Cu]ler�io�i und Di,sposo] Fmrd aecounts for the collec�ion nnd disposal of solid warie and recycling services for tlie Kodiak Island Rorough. '�he F(ospilul F��ci[ities Fund accounls for renls on Ihe Dorou�Ji owned hospital; hospi�al rela�ed sta[e � revenue sharing_ and other hospi�al relaled revenuc. In �urn, i[ purohases hospi�al equipment and makcs debt service pavmcnts on hospital rclated debt. � 'fhe Kodink Fisherie,e Research ('ei�ler Fmrd accounts fnr renLS and expenses on the Norough owned Kodiak Fisheries Rescarch Cen[er. l�he �hree tenants: NOAA, Naska Departmen[ of Fish & Game . nnd University of Alaska. PairbanAs pa�� lease fnnds to perticipate in �his multi-agency rescarch � facility commitled to [he preservalion of the North Pacific marine ecosystem and resources. Private seetor standards of accounfing and financial repoiting issued prior to Deeember I, 1989, generelly arc Collowed in bo�h Ihe government wide and proprictary fund financial statements to [he � ex[enl that those stanAards Ao not eonflict with or contraAict guidance of tls Governmental Accounting S�andards 6oard. Govemmen[s also have [he option oC following subsequen[ private scc(or guidnnce for �heir business type activities and en[erprise funAs, wbject to [his sam� limi[ation. .� The govemmen� has decteA not ro I'ollo�v subsequent privnte sector guidance. As a general rule the cffeci of intcr-(und and ac[ivity has been eliminated from the governmcnl wide financial statements. F,xceptions to this gcneral rule are chnrges behveen various Ponctions oC Ihe � govemmenl. Elimination uC lhese chnrges would distort ihe direct costs a��d program revenues reported lur the various functions concerned. � Amoun[s reported as program revenues include (I)charges lo customers or applicants for goods, scrvices, or privileges provided. (2) operating grants and coNributions, and (3) capitai gran[s and contribufions. Internally dedicaleA resoumes arc reporled as general revenues rather than as program �, revenues. Likewise, gcneral revenues include all [axes. Proprictary funds distinguish operating revenues and expenses from nonoperating items. Opera[ing � revenues and expenses gcnerally result ftom providing services and producing and delivering goods in connection with u proprielary fund's principal ongoing operations. The prineipal opera�ing revenues of the en[erprise funds are charges �o cus�omere for sales and services and lease revenues. Opera[ing espenses for enlerprise funds include the cost of sales and services, adminis[ralive � expenses, and depreciation on capi(al assets. All revenues and expenves not meeting this definition nre reporled as nonoperaling revenues and expenses. � (d) �Jsse6�,LinbiliNes,anAFu�edEquiry�/NetAssels Cash and Inves[men[s � Cash and temporary inves�ments oC Borough fi�nds are pooled in a central Ireasury. Each fund's ponion of [his pool is Jispla}eA on �hc balance shee4 and S�atement of Net Assets as "Equiry in Central Trcasury". 0 37 KODIAK ISLAND 130ROUGH � Nolcs lo Bnsic Pinancial S�atcmcnls. Conlinucd The Alaska M11unicipal I,cague Invesnnent Pool (AMLIP) is consiAered lo be e� eslernal invcslmem poul u dcllned hy GASB Statemen4 No.3L AMLIP is not SCC registered. Alaska Slaiutc37'3 eslablishcs mgulatop� oversight of thc pool. The law sets Corth numcrous requircmen�s regarding � aulhoriud imesnnents and reponing. The pool is incorpornled in Ihc Sta�c of Alaska ns a nonproti� corporation and reporls �o i�s I3oard of Directors. Alaska Statu�e 3723.050 requires the retention of an investment manager. � 'fhe managcr is reyuired lo producc monthly disclosure stalemen�s to Ihe pool. �I�he pool has also re�aincd an investment adviwr lo cnsure compliaoce �vi�h imestmeN policies. All participation in � ihe pool is vuluutun. �Ilic pool mu�1 mai�tain a dollar �ceighted nvcrage maturfty of 90 daps or less. nnd o�il)' purchasc instrmnenls having remaining maturities of 397 d:tys or less. On a monthly basis. Ihc invcs�mem+ in Ihe pool are reviewed for fair vnlue by an independen[ pricing service. � All highlp IiquiA invesmients, ezcluding resfricted assets, wilh original maturities of nincic davs or Icss are mnsidercd to bc cash equivnlents. For purposes of the Statemenls of Cavh Plows, equiq� in cenhzl tmasury held by enterprise funds aretreated as cash eyuivaleNS. — Invesnnenis for the go��ernmem, as wdl as the component unil, arc repor�ed at fair value. as dc�crmined by qmted markct prices. The reported vAlue of Ihc pool is thc same as the Cair value of � the pool shares. Receivablea and Payables Aclivih� bcuvecn Ilmds ihat are represcn[ative of lending Iborro�ving arzanSements outstnnding ai Ihc end of Ihc liscal }ear are refen-ed to as either "due to/fiom other fimds' (i.e., the curten[ ponion of intco-fiind loans) or "advances to/frnm other funds" (i.e., the nuncurrenl portion of inter-tund loans). � Any residual balances ou�standing betwecn the govemmental aclivities and busincss type ac[ivi[ies are reported in the gove�nment-wide finnncial slntements as °intcrnal balances." Advonces behveen funds, as repotled in the fund financial s�ateme�ts, are offse[ by a fund balance �' reserve acwun[ in applicnble govcrnmcnlal funds to indicate that Ihey nre not availablc for appropriation nnd nre nol expcndablc avnilable finnncial resources. Imentories aod Prepnid I�ems/Expenses Expcndabic opera�ing sopplies of the 13orough are accounted for using the purchns'es mGhod. Therc nrc no signifcant amounts of such inventories on hand at yeaz end. The oNirc Hospitel En[erprise -- Fund inventory is assigned to Providence as of April2l, 1997. According lo the terms of [he lease agreement for the hospital facilities �scu note 13(a)], those items arc required to be reWmed to the 6orough at t6e termination of Ihc Icase in n� least equal value. � PaymeNS mnde to vendors for services that ere applicable to future nccounting periods arc recorded as prepaid items. �fhe prepaid assets' do not reflect current available resourees and, thus. an equivalent portion of fund balance is clessified as nonspendable in the lund linnncial statements. Yrepaid items and expenses are based on Ihc wnsump�ion mefhod. 35 � KODIAK ItiLANll BOROUGH � No�es to Rasic Finnncial Stalcmcn�s, Continucd Capital Assets Capital avse�s, which include pa�perfy, planL equipmenL, and infrastructmp asxls (e.g.. roads, sheet � li hts, and simil�r items incluAin � g � �hose acyuired prior to tiscal ycars ended aFler Jnne 30. 1980), are reported in �he applicabie governmental or business type activilies columns in �he governmen6wide financial sla�ements. Capilal nssets are defined by thc Borough as Assefs with a� initial, individuul � wsl of more than $S,OUO (amoun[ nol rounded) and an cstimated useful liCe in excess of two years. tiuch assets are recorded al hisbrieal cos� or estima�eA hislorird enst iC purehased or construeted. Uonaled eapital assets are recorded at estimated fair markct vnlue at ihe da(e of donalion. � The costs of normal main[enance and repnirs that do no� add to the valuc of tlie asse� or ma[erially � cxtend assets lives are notcapiialized. Major outlays for capital assets and improvements amcapitalizetl as projec�s are constmc(ed. In[erest incurred Juring the construction phaae oCcapi�el asse[s of business type activifies is included as part of the capitalized value u(the assets constmcted. There was nn iNerest eapitaliuJ during the year. � Propeny, plant, and equipment of the primary government is depreciated using the straigh[ line method over �he following estimated useful lives: � Buildings and improvements 10-3U years Improvementso[herthanbuildings 10-ISyears � Equipment SJ 0 years InfrastrucLUre 40 years r Compensated Absences I� is [he Borough's policy �o permil employees [o accumula[e eamed but unused annual leave benefi�s. All ennual leave pay is accrued when incurred in fhe govcrnmenl-wide and proprietary fund � tinnncial stetemen�s. A liability for these amounts is reporfcd in govenvnental funds only if they have matured, for example, as a result of employee resignations and retirements. � Lnng-term OM1ligalioos ]n the yovemment-wide financial stnlemen[s, long-Iemi debt and other long-term obliga�ions are reported as liabili[ies in the applicable govermnental activities, business type ae[ivities, or � proprietary fund S[a[emenl of Ne[ Anse[s. Bond premiums and diswunts, as well as issuance costs, are deferred and amortiizd over the life oC [he bonds using [he eRcclive in[erest method. Bonds payable are reported ne� of Ihe applicable bond premium or discounL Bond issuance costs are � reported as deferreA charges and nmonized over �he temi nf �he related debt. In the funJ Enancial s[atements, governmental fund types ruognize bond premiums and discounts, as �oell as bond issuance costs, during �he curtent periud. �I�he face amount of deb� issued is reported � as other financing sonrces. Premiums rtteived on debt issuances arc reported as other Snancing sonrces while discoun[s on Acbl issuances are reported as other finaneing uses. Issuance costs, whethcr or not withheld from �he actual deM proceeds reccived, are rcported as debt service '� e.ependitures. ln[erest on long-term obligations is rocorded as an expenditure when due. 3G KODIAK ISLAND BOROUCH No[es to I3asic �inancial StatementsSonlinucd Ne[ Assete I� the governmenl-wide fnancial stateinenls, ne� nssets are reported in I}vce cnlegories: net assets � invesred in capital esrets nei of rela�ed dcb�, restricted net asets and unrcvtricled net assets. Ne[ assels arc repor�cd es restricted when consh2ints pinecd on net asset use are either estemally � impwed by creditors (such as Ihruugh debt wvenonts), grantors. cunlribinors provisions or laws ur regulations of othcr governmenls or imposcd by la�v through consti�ulinnal provisions or enabling Icgisla�io�. � Fund Ualancc In �he Fund Financial StalcmenU. 11md bal�mee indudes live classitications ns follo�cs� — Nonspendable Fund B�lance – ainounts that arc legall} or rnntrnclually requircd to be maintained inlact (such as the corpm o( nn cndo�vment fund) or nmounts �hat nre no[ in a spend,�ble form (such as � inventoq�, prepaid espenses, supplies, and long-term receivables). Such conshaint is binding un�il the Iegnl or eonirnctual requirement is repealed or lhe amounls hecome spendable. Restricted Pund I3elance – omounLS conslreined to specific purposes by tlicir pmviders (such as � granlors end higher Icvels of govemment). through constitutional provisions_ or by e�mbling legislation. Such constrain� is binding unless modificd or reseindeA by e�ternal body, Inws, or regulation. Committed I�nnd Balance – zmnunLc that can be used only for 1hc specitic purposes dctermined bv a formal action of the Borough Assemhly. Commihnents may be changed or litied bv the Assembly taking ihe same fonnal ac�ion lhai imposed the constraim originally. � Assigned Pund Belance–nmounts intended to be useJ by the Rorough Por speci�c purposes: intent can be expressed by thc Assembly or by the Financc Dirutor or designec Such constrnint is binding unless modifieJ or climina[ed by Ihe Assem6ly or Finance Uirector. In govcrnmenlal funds other ihan the General fund, nssigneA fund balanee represenLS the amoun[ that is noL restricted or committeA. Unassigncd Fund Ralance – amouotv no� conl�iined in Uie other classifica�ions and uvailable for any purpose. Nositive unassigned amounts ��'ill be reported only in �he General Pund. JP anoiher guvcmmental fund, oUier than thc General Fund, has a fund balancc deficil thai it H ill be reported as a negative amount in [he unaasigned classification in that funJ. The order of spending, regarding the restricted nnJ unrestricted fimd balance when an espendiNre is incurred (or which bntli restricted and unmstricted fund balance is available should first mduce mstricted fund balanee nnd then unrestricted fund balance. The order of spcnding regarding unrestricied fund balanee is thnl committed mnounts should be reduced first, followed by the assigned amnun[s, and thcn the unassig�ed amounis when expendihires are inwrred for purpuscs for which amoan[s in any of thu�e unrestricted fund balance classifications could be used. 37 � KODIqK ISLAND QOROUGH Notes lo L3asic Financial S[alements, Continued Coinpliance �silh Ihe prnvisions of �hc Fund 13nlance Classification Pnlicv are mvicwed as pott o(the annunl budge� adoption pnKess. The Finance Direcmr reports to the Assembly av close �o the end of � the ��car as potisible the an�icipated ycao-end fund balanee or deficit. "fhe Assembly lakes appropriate ac�ion (o commil or assign. or othenvise allocatc prior year fund balances as a part of [he budgcl planning process. � "I�he Rorough's Spieinl Revenuc I'unds are used to accoun[ for lire and road service areas, fi;deral and state grant programs, street lighting districts, and operations and maintenance programy tha[ are � res[ricteAorcommitted. (eJ Revenues, Espeadinires, nnd Espeiases � Property TAxes Pinpertv tascs nre based on the assessed value of taeable property as of .lanunq� 1. Pursuant �o Alaska Statute 29.45.240, �he 6orough establishes tlie mill rt�te on or befom June 1 Sth. Tax bills ue � then rnailed on or before Julv Ist. � Taxes are duc when billed and gencrally become delinqucnt on or after October 16ih. The 6orough � code also provides Cor split payments. If a texpayer avails himsclf of this provision. onc-half must bc paid on or before August ISth and [he remainder becomes due on or before November 75fh (in lieu uf Ocmber ISth). Borough property tas revenues are recognized in the fiscal year in which they become measurabic and available. which is generally Ihe year following the ycar tlie tax bills are � mailed. All tAxes are delinquent on November 16�h, and a lax foreclosure process may commence as outlined � in Alaska Smtu�es'fitic29. Briefly, this en[ails tl�e peli[ion for ]udgmenf of Foreclosure signed by the Dislrict Court Judge and the publica�ion of all delinquent [axes in ihe local newspaper for four � consecu�ive weeks. � Real property tax liens are enforeed by one geneial foreclosure proceeding against [he delinquenl properties. � Severance Taxes Severance lases are based on (he amounl and value uC naNral resources severed Gom [he � environmenL Types of resources [aacd include senfood, gravel and mineral resources, and timber. Severance tes re�urns nre sent [o appropriate companies (as detemiined by [he Norough Assessor) and arc re[urnul to the Borough Pinunce DepartmenL The reNms are Fled quar�erly, and ue due by _ the end of �he month following the quaitcr's end. Borough severance tas revenues are recognized in the fiscal year in which they become measurable and available. Intergovcrnmental Revenue State shared revcnues, safe wmmunitics, S[ale cJucation rclated entiticmen[ programs and Sta�e levied �a.ees, the proceeds of which nre distributed to Iocal govemments, arc recorded in the fiscal year to which �hey rela�e, ineluding accrual at year enJ if final payments duc are measura6le and received wiihin approximatcly hvo monNis afltt year end. 38 KODIAK ISLANU BOROUGH r Nolcs ro Rasic financial Stalcmcnts, Continued Statc of Alaska and federal guvernmen� cost reimbursabie granls and coNrncts are recordeA to �he extcN of nllowable e�pendiWros in Ihe period in which the espenditures were incurred. � When hoth restricted nnJ unrestricted resources are avnilable for use for governmenlnl activities, it is Ihe Borough-s policy to use restricted resources fvsL Ihen unrestricted resairces as [hey are neeticd. Operating anJ Nonupera[ing Rcvenue and Expenses Proprie[ary funJa disiinguish operaling rcvaiucs and expenses from nonuperuriag itcros- nperaiing � revenucs nnd cspenses generally resu11 from providing services anA producing and delivering Eoods in connectiun witli a proprietap� fund`s principal ongoing opci�tions. 'fhe principal operaling revenues of Ihe Municipnl Solid Was�e Collection and Dispoeal Fund and 91I Services Fund are ehor�ev to cu�tu�ners for scrvices. �fhe principal operating revenues of the I lospiial Pacilitics Fund -� und Ihc Kodiak Fishe�ics Rescarch CeNCr Fund are ren[s fi�om customers. Operating expcnses (or proprictary fimds include cu�ls of acrvices, administrntive expenses, and depreciatirni on capital assets. All revenucs and espcnses not meetin�, this dcGnition are reported nv nonoperating reaenues � anJ espenses. Recenue from In��esiments and Property Amounts enmeJ on invesunent of available cash 6alances and U�e rental of building tacili�ies are recorded in Ihe period to which they rclate, inelnding accrunl at year end of �he balnnce due, and unrealizcd gains and losses on imesnnents held at fiscal year end. � Land Sales ProcecAs and O[her Local Rcvenues Amnunts received pio�suant to land sale contraGs arc recorded on the modificd accninl basis in thc � fund financial slatemcNS nnd thc accrual basis in �hc govcrnmen[-wide financial stotemen[s. Otlmr local revenues are recorded on a basis consistent with their nalurc in relation to measuranent and availability slnnderds. (� Cash F[nws All highlv liquid investmen[s, excludin� restricted asre[s, �vith original maWrities uf Ihrec months or less are considered cash cquivalents for puryoses of the statement of cash (lows. (� UsenjEsrimatev Preparakion of financinl statements in accordance with acwunting principles generally accepted in tlie United Stales of Ainerica requiru managemenl to make estimates a�d assump[ions thal affect Ihe amounis reponed in [hese financial statements. Aewol results may differ from the estimotes. Significant estimokes indude Ihe allnwanee for doubiful accoun�s, the useful livice ol' assets and rela�ed ucenmulated depreciation, and accrued Iandfill closure and post-closure care costs. 39 � r KODIAK ISLAND BOROUCH Notcs �o Basic Financial Stalemenls, Cnn�imicd (2) S�ewardship, Compliaoce, aoJ Aceountabiliry � (nJ Eece.vs of E.rpendilures nrer Approprinfions 'ihe followi�g fund cxpenditurcs e.ececded Iheir budgeC Pund Lduca[ion and Heal[h Debi Service Fund � Spwial Revenue Funds: Kodiak r�irport Firc Districl Monashka Bay Rond Servicc Arcn '� Women's Bay Road Service Area Constal Mnnneemem I..F..RC. '� I.and Selcs Total expenditures excecding budgets " (b) Defici! Fu�id Eqaity - Thc individual fund defici�s at June 30, 201 I, are as folbws: Exccss $ 456 18 1.3R9 z�,xax 2,099 1,961 19,045 $ 52,816 � Spuial Revenue Punds: Fire Protcction Arca No. 1 � I3ay View Rond Scrvice Area Child Care Assislance Program I..F..P.C. �. "frini�y Islands Paving Renewal and Replacement Projects Capi�al Project Fund Total fund dclici�s $ 304,0�2 5;707 731 16,762 47.592 804,268 $ I,179.132 • The deficit in �he Fire Protection Area No. I will be funded by additional revenuc in PY2012. Thc deficit in [he Bay View Road Service Area will be fundeA bp a mill rate increase of one half mill ihat will bc s[arted in FY2013. � The defici[ in Ihe Child Care Assistanec Program will be wvered by revenues in PY2012. � The defici[ in the L.E.P.C. fund will be covered by fund revcnucs in FY2012. The deficit in the Trinitv Islands Paving Speeial Revenue FunJ is anticipeted to be fundeJ by a speeial asscssmau Oiat began in 2006. � an KODIAK ISLAND I30ROUGFI Nulcs �o Basic �ioancial StatemenLC, Continucd ihe Acllcil in Ihe Rene�val und Replacement Projecis Cnpilal Projecla Pund �vili be covered M1y a loan frnm �he Pacilifies Special Revenue Pund, which will then he repnid by a mill rn�e incirase. (3) C:�sh And Investmeots lhe L3orough panicipates in the Alaska Municipal I.eague Investmen� Pool (AMLIP). The Alaska Mtmicipal League Invesunent Pool, Ine, (AMLIP)_ rcpresents the Borough�s share u( omnership in Ihe pool ralherthnn o�cnertihip of specific securities. AMLIP is considereA to be an external inveslnrenl pool as tlrilned by Gener;dly Accep[ed Accuunting Principles. AMLIP is not SEGregislered and is imrated. Rcgida�ory oversight of the pool is estaMished by Alaaka Stntute7Z23. The law scts for[h numerous requircments regarding authori�PA invcsmienls and repotling. �fhe pool is incorporared in the Sta[c of Alaska as a uonpro0l curpora�ion and repoiV to a bomd nf direciors. AlasAa S�atu�e 372�D50 requires the [ctcntion of an invcstmcnt mnnaLe�. 'fhe AMLIY manager is required �o produce �nonthly disclosure slatemw[s on the ponl_ The pool also hns retained an fnves[ment uJviser who moni�ors the perCormunce of the invcshneni manager tn ensurc compliance with investment policics. All participetion in Ihe pool is volun�ary. The pool nms[ maintain a dollnr-wcigh�ed avcrage maWrity of 90 days or less, nnd only purchase instmmen[s having remaining mnturi�ics oC l97 dn}s or less. On a monthly basis, thc inves(menis in Ihc poul are reviewed (or fair value by an inAepcndcnl pricing service. The fair value of [he invesnuentn in the pool appro.eimatea nmortized ms[ and is cqual tn the vah�e ul pool shnrev. To obtain a wpy of AMLIP's financial stntemcn�s contrad Kev Trust ofAlasku o� 101 West Rensan Rh�d.. Room 302. Anchore�e, AK 99503. As of June 3Q 201 I, the Rorough had ihe following inves�men�s: Invcstmenl 7\�ne U.S Agency Seco�i�fes: Pederal Home Loan 6ank Federal Home Loan Mongage Corpora�ion F�deral Agrinilnrze Mortgagc Corpora�ion PcAcral C-arm Credit l3znk Fedttnl �utional Mortpage Associution Municipal Obligations Alacka Municipal Lexguc Inres�mem Nool luvexlmen� Ma[urities (in years) Fair Less Value Ihao 1 1 to g fi l0 10 $ 30,593J20 I2,024,I5U 14,197,010 4,372560 4,OIR.000 4,018,OOU - - 1.996.28U I )96,280 11,142,683 4,O6R,400 8,511,73U 3,568,860 30,235 _ 8 6P_ 685 8,652,685 5,967,833 I J 12450 4,942.870 - - 30,235 � $ 64,945,333 34,326,375 25,101713 S.SLi,295 In aAdition lo the invesnnen�s lisled above, Kodiak Island Borough also had cash equivalents uf $3.446.976. 41 � � KOUTAK ISLANU ROROUCH Notes l0 6asic Pinancial Statemenis, Conlinucd r lnleru( 8nle Risk � �I�he Borough's investmen[ policy does not limil imes[men[ ma[uri[ies ns a menns of managing its exposure to fair value losses arising Crom inereasing interes[ rates. � CreAi[ Risk S[aNtes au[horize [he Borough [o invest in obligations of [he Uni[ed Sta[es, the State of Alaska and its poli[icel subdivisions, savings accoun[s, certitica[es of deposit, banker's acceptances, repurchase � agreements, and such o[her legal securiTy instruments. The Borough does no[ have a formal inves[ment policy that restricts imestments based o� credit risk. � At June 3Q 2011, the Borough�s U.S. ngencies bonds were rated AAA by Standard & Poor and Piteh Ratings, end AAA by Moody's Investor Service. At June 30, 2011, the L3orough's invesimen� in [he Alaska Municipal League Investment Pool was unraled. '� Conrentralion ojCrediJ Ru�k The Borough places no limit on [he amoun[ [he Borough may inves[ in airy one issuer. At June 30, 2011, � the Borough had 87% percent of i[s inves[men[s in U.S. Governmenc agency securities. Cuslodia[ Credit RLek — Deposits � The Borough maintains a cash pool Iha[ is available for use by all funds. Bach fund's portion of [his pool is reported on the balance sheet and Sqtements of Net Assets as "8quity in Central Treasury° or amounts "due to/from o[her funds.° r The Borough bank accounts that are nonin[erest-bearing transaction accuunts are provided with unlimited . balanee pro[ection by the Pederal Depository Insuranee Corporation (FDIC). Interesbbearing accounts are insurcd by thc FDIC to a maximum of $25Q000. U.S. Trcasury obligations collateralize tlie remaining � bank balance, which is held by Bnnk of New York in a Tri-party collateral agreemen[ wi[h Wells Fargo, Nie pledging financial institu[iods agent, in [he Borough's name. � CusrodialCredltRisk—lnvestmenta� For an inves[mw[, this is a risk [ha[, in Ihe even[ of Ihe failure of [he counterparty, the Borough will no[ be able to recover the value of its invesLnenLa or collateral securi[ies that are in the possession of an ou[side � party. "rhe Borough manages its cus[odial credit risk in investments by requiring colla[erialization agreements. The Borough had no deb[ securi[ies exposed [o custodial credit risk at June 30, 201 I. � (4) Annual Appropriation to thc School Uistrict An annual appropria[ion is made to the Schoul DistricL In addition to the annual appropria[ion, the Borough provides the School District, wi[hout charge, general liability and proper[y insurance, data ` processing services, Ihe annual independent audit, mental heal[h serviccs, and grounds mai�tenance services. 42 KUDIAK ISLAND ROROUGII � Notcs Io Bnvic Finnncial Statements. Conlinucd (5) Rcecivables ('u emxl4'unJs � r.a��.:�e�� n s�a�ecnna.i om.. ��n.i f.rnrral IleuliM1 Urbt f.ran� G�piial Ga�ernmen�al Govermmcn�sl ILnA tien�icr Fi�ml Prul�'�'Ifnntl 4'unJs fnnds Remlaabhn � Gnims 5 )>.2JO 3vJ.J46 AO.Ml.9 i19�AH 12�tllIJ 'laecv >v<.IJJ — -. v])I fipA,9)I CuAOinuaanJolhc� ?]H� °A.IEU (G,yO 9i.192 GoxxreuciwMca G1c�l.6 Jn].iSM1 �1N.U29 -0'_S,NI6 19JG,iA I c�_ elLmm�m � In�unculle�tilFl�x �ISN2&) (ISN2N� Nc��nulmccnnblcs N !.$Y11N 19)t(.G J98.02`l i2i%Il. 19(ll.(19 Enlvq�risc YunJ.s � \Innia�ipvl 6oJiak Other SoliJ\4'uatr FisLeries Vomnal��r luwl Tulal lblal CollerGnn Nex rcM1 Lnlerprie I:nhrprir f.m emel Pr xnJ Ui�posnl ( iantm Pund e 4unJs a. �tunJs Cme. nmenl � ReceivaMCS. Ganu % ft.15"IHi — — HJ5,9R1 129$31A 2.12J.OY9 "f�rix .. — — 60A.991 EOJ.991 Cnc�omrnenJuthcr 232.LH (.AG i.i55 23ZI9U 91192 3i0Jb2 Gmss mcn'ablis U191,912 nN6 A355 I,�R29Si 1 9�! p�9 ) ll>g G3p � Lcsz�. ullo��ance InninuolleniMrs - piR2g) fI5.R2R1 ��tilmolrett��wbl�s %' 1,f19J.912 686 A3<5 I11%2953 IY6U,649 i0136U2 Gwcrnmcntul funds repoit Aefcrred revcmic in cunnection wi�h receivables for revcnucs �ha[ are no� '� considered lo be available to liquida�e liabilitics of thc curten[ period. Govemmcntal funds also defer revcnue recognition in connection with resources that have been received, but no[ yet camed. A� Ihe end of thc current fiscal ycar, the various componcnts of delerred revenue and uncamed revenue rcported in tlie � govemmcntal ilmds wcrc us follo�vs: Unavailable UnearueJ Total Deferred pmperty tuxes receivnble $ 1209A5 - 120945 Grnntadvancespriortoespending;dlproceeds - 752778 152718 To�aldeferred/unearned revcnue for govcrnmcntnl(unds $ 120945 152,718 .73�663 � J3 � KODIAK ItiLAND BOROUGH Notcs b 6asic Pinancial Statemen[s, Continued � (6) Capital AcveLv Av notcJ in footnote (13), the Uorough leases [he Kodiak Island Hospital and Carc Ccn�cr to Sistcrs o( Providenec The value of [he leased assets nnd associuted depreeiation are reflected in �he Iiospital � Facilitics Fund (ollowing. Capitnl assc� ac�ivity Cor the year ended June 30, 201 I was ns follows: � Reginning ��g Balance Inerease Decrease Balance � (bvemnxntalacti�iti�s: Capital usels. mt hcing depreciated: � land �8 :J.d67.lOJ 23A673W Canstrudiun uork-in-progress 31,(190,>7J 6.720721 (2,R2?,b15) 33.988.6+0 � Totol 51557,87R fi.720.921 (2,822,(vl5) SgqS5.Y5q Cnp'val assets. bein� deprcciated' r Boildingsundimpruvenxnts 95,067?JI 2.822645 97.B9p,�y6 Impmcemen�s o�herthan buildinGS 119N.i,461 II.7Ri,A(I Fquipmenl 2,769,996 S257i 2822.571 " Infroslructure S,y6?,712 576272? To�ul 114.9H5,'p_0 2.875220 117.8601N0 � Icxseccumula�eddepreeiationfor: liuildingsandimp�ovements i7,180,237 2371.d08 — 5955L64i Im�mcemen�s o�her than � buildings 4,018,275 SW.276 — dS7q,i?I I'quipnxnt 1,613,521 129J55 -- 1.77?.676 In1Aat�nw�ure 4,355,189 I�k1.068 �� d.499,257 � Total 67.197222 3.150.877 — 703J8.(199 Tolal capi�al assets � being depreciated, ne� 17,788,498 (?75,65� J75I2.841 Totalgovemmental � activities,ne[ S 102,3d6,37h 6.41i.00rl 2,822,67� 105,968,795 4a KODIAK ISLAND BOROUGH Nolcs to I3rsic �inancial Statemcros, Caminucd ReginninK Fnding 6alance Increase Ikcrense Balance Rusiness-type activi�ies: Mw»cipalSolid WasteCollcction and Disposal Fund capital assms, not beinK deprcciated: land $ 1.65124R ConsWCtionwork-imprngress 766,063 752989 Total ?,417311 759,989 Capital as5cts.being depreciateA: Unclassilicd ulility planl in ernicc 2,175.733 linprovcn�cnts olher [han builAings 2.288A3R — Machincryandeyuipmco� 1,752,726 25�_pp9 Totul 6.21Rfr97 �51,0(Ml I�ss accumulnted deprccintion fiir. Undas'sifed utility pinnt in service 1.043,246 1?,055 ]mprovenents other�hen buildings 917,457 I25.574 Machinery and equipment 1302319 I12,887 Total 3.I63,02? 28Q516 Totalwpitalas'se�s' bcingdepreciated.ne[ 3A56.875 (29,50"� 'I o[al Municipal Solid W aste Collectinn and Disposal h'und, nct $ 5,474,IR6 73Q4�'2 as -� Ib51:248 — I 5�6,052 3,17730(1 3.178.T3 2288,438 _ 2(H/3,735 - 6,970.906 1,085.301 �� 1.043,031 ��— 1315206 -�� 3,443,538 --- 3.027,368 6,'fkl,G68 r � r � KOUTAK ISLAND BOROUGII No�cs to Bnsic Pinancial S�a[cmm�ts, Con[inucd Hoxpilnl Paciliiies Pund cnpilal as'sets, noiboing deprecie[ed: Artwork I,and Constmctlon �mrk�mpm@ress Tu�al Capiml asse�s. being depreciated: Buiidinc� hnprocemems other than huildin� Machinen and equipmcnt Tuwl Less accumulated depreciation for [luilJinEs Improccmenls othcr than builAinEt Machinery and equipinent Tolal 1 orol capital asrets being dcprcciated. ncl Tn�nl Hnvpi�al Facili�ies Pund.ne� � Kodiakl�isheriesReswmhCemerPund capital asvcis. bcing dcprecinteA', Buildines � Improvememsother�hanbuildings Mechinen nnd eyuipmem To�al Lev accunwla�ed deprccintion Coe � 6uildinps ImprovemenLs olher than buildings Machinep' and equipmem � Total Tatal KndiHk Fisheries BeginninR F,nding Balance Increase Uecrease Ralance 5 16A91 16.091 I f1351 I0,251 i96L54} 2gJS2 5.991,295 5,9R7,Rfti 29,75^_ — 6.017,637 27.131,OJi ?7.131.U44 401,OJ6 — — AOI.OA6 3,627,068 — 3,627.ObR 31J59,15g — 31J59.U8 I?.58L639 7>5.825 — 13337.464 154,597 Ad,218 198.811 3217.630 68,197 — 3185.827 Ii957.8G2 868240 — I6.822.102 15205.296 (868,2J0) W337.Oi6 $ 21.193.181 (836,A88) 20,3i4.6Y3 $ 17.Sd0.J10 I7.ftY0.910 i.oas.�eo — i.oas.�eo i,iszs�o — i.insao 2Q046,7I0 — 20,046,710 6.539.723 594,680 -- 7,114,40? 37659i 39.9.i9 — 4I L.5�4 I.G1.906 2.288 I.Li4.194 6,068223 631,927 8,700.150 S 11,978_d87 (631,927) — I1,346.i60 46 KODIAK ISLAND BOROUGH Notes to Basic Finnncial Stalements, Continned Reginnin8 Ending Iialanre Inerease Deerexsc l;xlxnce 7�otal businessiypc aclivi�fes_ Capi�al as.acls. no� heing depreciatcd: AmvnrH $ 16.091 — Lund 1,66L499 — ('nnsvuciionwork-in-pmgress 6,727.606 7897d1 Tntal 8,�05.196 789J41 Cnpi�nl assels, being deprecintcd: Undassllicd utility plan� in service 2.178,7i1 . HuilAings Jd.971A54 - Impmveinenls ulhcr tl�an buildinys 1,7ig,244 Muchinery und cquipinun 6 5;7,�7q 251,009 To�al 57.425765 251A09 Less accumulared depruialion for: Undassified utility plam in scrvice 1.043246 42,OSS Buildings IQI213G1 1,350,?0? Improvemenb olhcr �hnn buildings IA4$64? 20i,751 Machinery and cyuipment 5571.855 183,372 'fo�al 27J R5,107 1780,683 Total cnpimi assets bcingJcpreciateQnet 3024QG58 p,529.674) Toml bnsinessrypc ac�ivi�ies, net $ 3R,645,SS4 (739933) a� 16,091 I .GG I A99 7.517.;J7 _ v.194937 2. nx.�aa -- 44971A54 __ 1.7182J7 6,7883A3 57,676.771 — I,U85301 — zo.an.xec — I,G5319G j755327 ?8 965J90 = 2tl 710,98d 37.905,')21 � KOUTAK ISLAND BOROUGH Notes to Hasic Fi�ancial Statements, Continued Deprecia�ion expense was charged to Ihe Jepanments and functions of the primary government as follows: � Governmcnlal xtivi[ies: Gcncral govcrnment $ 321,369 Pubiic safery I?6,726 � Primary and secondary education 2,902,782 Tolal—governmentalectivilies 3,150,877 Busincs's-typc activities: �. Municipal solid waste collecliun and disposal 280,516 Hospital fucilities 868,240 � Kodiak fsheries researeh center 631,927 'Potal—business-typeaclivities 1,7R0,683 Total $ 4,931,560 `� (7) Interfund Reccivablcs, Nayables and Transfers (a) Lnterjund Recefvables and Payab[es � Intedund bnlances at June 3Q 201 I consisted of the following: Receivable Fund Yayable Fund Amount �. Major govemmenial funds: Creneral Fund Cducatbn and Heahh Deb[ Service FunA $ 400,000 Mu�x:ipal Solid Waste Collec[ion and Disposal �. En[erprice Fund 675 Other Governmental Funds 337,602 Facl'4ies Special Revenue Fund Hospilal Faeil¢ies Enlerprse Fund I,106,261 r Kodiak Fisherics Reswrch Center Enterprise Fund 4,583,837 Other Governmental Funds 619,617 Other Governmen[al Funds General Fund 2 � Hospitfll FaeilRies Enterprice Fund General Fund 2,580 To[al primary government $ 7,050,574 The balance of $4,583,837 due [he Facili[ies Fund from the K.P.RC. Fund resul[ed from a loan of � $B4OOQ000 thnt wes made to help pny for Ihe construction of the building. $4,065,000 is not scheduled [o be pnid in FY2012. 48 KODIAK IKLAND 60ROUC[I Notes to Basic Financial Slatements. Continued 'Ilie bolance of $I,106,?61 Juc Ihe ]�acilities Special Revenuc Puod tiom Ihe Hospitnl Faeilities Enlerprise fund recul�ed fix�w a luan of $1,600,000 thnt was made to pay for part of thc cosl of a lawsuit. $ L032.ftOG iti no� schcJuled lo bc paid in FY2012. NI remaining balances were shon tcnn loans to cover negative cash balances at year end l�he oulslnnding balances behvcai (unds result Gom �hc time lag between the dates thal (I) intcrv(und gouda and services are provideA or rcimbursable expenditures or expenses occur, (2) transac[ions are rcmrdcJ in the aceounting systcnt and (3) paynicnts benveen funds are maAe. (L) Long-lerm L�lerfiuid 6nrrowiivgs In Octnber 1997 the Pncili�ics Special Itevenue Fund loaned $8.000,000 to the Kodiak Fisheries Research Cemer Hnterprise Pund. 'fhis loan wn+ w help [inance the construction of the Kudiak Fisheries Rescirch Cenler. Thc luan fi�om the Facililiec Spa;ial Revenue �und is accounted for as a lon� term inter-il�nd ndvanca �vhilc [he liabiliry� in Ihe Kodiak Fisheries Research Center 6nterprisc �und is accoun[ed for xs a long-term in[er-funA bonnwing. The nAvance bears interesl at 7%, and �hc scheduleJ paymm��s for the nezt live fiscal years ended and thereafler are u follows Year endin� June l0: 20 L 2013 2014 2015 201G 2017-2019 Yrincipal Interut 'Co(al $ 44Q000 299,950 739950 470.000 268,100 738.100 500,000 234,150 734.150 540A00 197,750 737,750 575,000 158,725 733725 I 980,000 214,200 2J 94200 $ 4,505.000 1,372,875 5,877.875 In Ju1y2003. the PaciGties Special Revenuc Pimd loaned $1,60Q000 [o the fiospital Pacilities Enlerprise Fund in order �o help fund ewrent operalions. The loan from [he Facilities Special Revenuc Fund is accounted for as a long-ICnn in�erfunJ advance, while the liability in the Ilospi[al Facilitiee F.nterprise Pund is nccounted for as a long-term interfund bortowing. The advance bears interest nt 4%, and the scheJuled paqments for the next five fiscal yeara and thereafler are as follows: Principal ln[eres[ Total Year ending June 30: 2012 $ 73.A55 43,523 II6.978 2013 76,423 4Q556 116,979 2014 79,510 37,468 116.978 ��? 82J23 34,256 116,979 2016 86,065 30,914 116.979 2017-202I 485,374 99,518 SR4.892 2022-2023 222.711 11,246 233.957 $ I,IU6261 297,A81 I,4U3,742 A9 KODIAK ISLAND 130NOUGH Notes [o Basic Finuncial Statemems_ Conlinued � (c) Transjers � In�er(und �ransCcrs have becn made in accordance �vith budge[ ordinances. Funds are trnnsferred Gom one fund b suppurt espenditures of other funds in accordxnce with the authorip� es�ablished for � �hc individual fund. Transfers behveen fund types during tlie year ended Junc30, 201I, were as follows: � Tranrtcra0ut Majnr Gorominenul FunJs �.��,:�i r ��a � IaaLiie,cSpccialHcvcvnctunA OiherGocemnienmlFnn�s Tnwlvaavfrv � 6a�emmmmlFuods f:n�erD�ieeFundr f:Jucalion \lunicipal YYd��PY�Ih Ulhff 111�Id��ei1P IIOY�1�YI DeMtienice Go�ernmemal Cnlleciionaod Fvcililiin fund FunJs Dinpm�alFunJ 4uoJ fobls S ISNS00 3J.500 13,sp0 — ISSISUO J99,000 3RI_Y33 ]fif1933 IAtl�liG ((SW IS49.8iG S Ig025W IRI9,989 USCNI Ah.SW 3Nfi2.2N9 A summary of signi�cant transfers are as Collows: • The General Fund Iransferred $1,503,�00 to the F,ducn�ion and Health Debt Service Fund [o pay Por debt scrvice on �eneral govcmmrnt debl. •'I�he General fu�id transferzed $34,500 [o the 6uildiog anA Grounds Special Revenue F'und to pay additionnl snow removal costs a� school si[es. •'Phe Genernl Fund transferred $13,500 to tlie Municipal Solid Was�c Colluliun and Disposal PunJ lo pay for garbage disposal for arca �hrifY shops. • The Facilities Special Rcvcnue Fund transferzed $399,000 to the Rduca[ion and Henith Dcbt Service Fund for debt seivice on school district and hospi�al bonds. • The Facili�ies Special Revenue Fund transferteA $I18A00 to 1he Ruilding and Grounds Special Revenuc Fund for to pay additional snow reinoval cos�s a� school sites. • The Facilities Special Revenue Fund transferred $243,933 �o Ihe Borough Capital Projee[s Fund to pay for capital improvements. • The I'ire Pro[ection Area No. I Special Revenue Fund Iransferred $1,469,60910 the 6orough Capital Project Pund to pny for capilel improvcmcNS. • The Kodiak Airport Fire District Special Revenue Pund [ransferted $13,7A7 to the Womcns [3uy fire Departmcnt Special Revenuc Pund to pay for public safety relateA wsts. • The Fem 1'uller Tms� Special Revenue Fund transferred $66,500 to the Hospital I'acilities L'nterprise Fund for Ihe pwchase oCnew equipment. 50 KODIAK ISLAND BOROUGFl Notcs �0 6asic Finoncial Stalemcnfs_ Con[inued (8) LangTermDebt (nJ Genernl06ligntion BmrAs nnd oiher deM Thc Rorough issues eeneml oblipnlion hmdv and ulhcr dcbl lu procidc (unds foc the acquisitinn anA u�nstruc�xm of majnr capilul (acilil'rs. General obligatan Lvmds' are di2ct obligo�inns and pledge Ihe (ull (ailh nnd c�ed'A o(�he Borough. Gcneral obliga�ion bonds and o�her debl currtnik oulslanAingnre as folb��s Inlertsl Prineiw� Pa�meots T�penf�kM Nvle� 1)ales Lssuedale pwNril�ddles Da�es \mounl Q'ncrel ohliealinn hnnAs LN1UFSrirs 1955,0"� N�1=JI 12�IJ2WJ 7/I/?UII 'JV911I 1 i•nernl ohlleo�ion bonJv-21N1fIPScncs fi.44.(1%, 8/I-bl 17/ILLNNI JIR�III 21IR011 CencmlObliguYnin hunds-2IXqCScnes d,0.i0% I/I-7/I 72V2qU bl/2024 �/12012 -IqI,fIW r,inais ai<,ax� �nnow „s.ir�rr ]/I/20I5 {Sp.U00 7/1201fi J7qIXNl 9r12111] ��S.qp 7/I/1AIR ilO.�RX1 7A/2(11) �70.IXq 7/I20i0 Sti.IXp 7/I2[I�I 580.IH10 7/12022 WSOIMI 7/I21P_1 635.110.1 7/V202f 665.0(III �ns.aa sl � KODIAK ISLAND BOROUCH No[es to Basic Financial Statemcnts. Continucd r � n�ro��.��....n rd,�.,...., n.i.��u� xen.<a em,��..,� t�uai.e nm�� v.��a rt�u.<e a�ro�,zo�o �.s�ea a�r��u.a .m��eo,mu � 2WI I:iR5.000 1�48.S,fHN1 13US.W0 IBQCOO �- ItlO.OW - 2W1 IJ]S.U00 1�I95,(1(10 I_UISUpO 160,P.^0 I(A,OW - r r ?IHN 9JW,fMM1 Y,1W,000 ZIRU,qW ],12qUW - )BS,OOU 6,935,000 r ti 52 KODIAK ISLAND BOROUGH Notcs to L�asic Fina�mial S�atemcnts, ContinucJ loteres� Priocipal payments 'lypeoPoe6f Itates Dntes Issuedete M1laturihdxtes Uates Amount Ceneml obligntion bonds-2001BSe�ies 7.0.57'/0 91-11/I 17/I/2004 II/I/2U24 II/I/2011 475,OW ,� II/Ii2012 490,000 II/I/2013 51QOIX1 11/1/2011 50,000 II/I/2015 :50.000 11/I/?016 i70,W0 � II/V3017 595,000 II/V?018 620,000 � II/i/2019 650,000 IVI/2@0 675,000 iuinozi �os.000 — uni2ozz �a0.000 ivuzoz� ��s,000 II/I/2034 SIi,000 � 8,'00.000 Ceneral obtlga�ion bonds- 2008 A Senes 4.0.5 0% d/I-10/I 11/I/2008 4/i/2028 53 W/01/12 290.0(10 04/01/B 300,000 0.1/01/I9 32Q000 � 0.7/01/15 pi000 U1/01/16 35QW0 04/01/17 370.000 � GM01/IB 380.000 bi/01/19 400,000 04/OV20 41�,000 � bf/OV21 43Q000 04/01/22 45Q000 04/01/23 J7Q0(10 � P1/01/24 490,000 04/01/25 SU,000 67/0126 59q000 04/01/27 565_OIXI �' M/OV2ft 595_000 7,215.000 � � KODIAK ISLAND BOROUGH Notes to Basic Financial Sta�emcnts, Continued r � Aulhorized Priorcexrs Balxnecal Re[ireN Balanccat . Fiscalvexr Amoun� Issued Retired July1�1010 Issued Refunded JuneJ0,2011 r r r r � 2IXW II,U50.000 II,OSQ1100 I,R9[1,0(N) r r 9.1(A,000 2008 ft,U00,OD0 $OOO.ppp iIQUf1U 7,490,000 54 — JNI.IXIO 8.700.000 275,W0 7,215,C00 KODIAK ISLAND 130ROUCl1 � Nutcs Io Rasic Financial Sta[cments, Continued INCrest Prinri�el �nymems Typeof�kl� Itates Dates lasuedate Maturitydnles Dales Amount (incral obligalion hnnds—�AScrits 1.0°.�6 ^✓'I-8/I -0V/2W9 7J1/2(Ill 0?l01!12 133SOfH1 02/Olil3 1�90.000 � @/01!14 1.445.W0 e. nnaro (@neral ubliEalian honds-2011 ScncsOn< 30-5-Ui 9/I-3il 1�1/?011 Ji12011 03i01/12 ]75.UW Ol�0Ul3 28i.000 � 07;01; 14 �9i_ppp 03%01/U i05.000 f17101/16 310,WU 03i01!17 330,000 03'01/IS 330,IX10 O1/01!19 310.(KK1 07i01f'0 3iS.000 03/ONJ 37R(Nq f1U0V22 37LS.q1U 031OV24 JOS.IXIO � Oi/01/2d 4?i.IX10 03/01/?5 145.000 03/01R6 dGS.OW � OL01%?7 dffi.000 07/Oli?8 510.(N10 O7/01/29 ?3i 000 — 01�01/i0 i65.W0 03�OU31 i95fXlf1 8,000.000 � A DCC' bans CYeonoeter Kaduk 392—JUS°o �t '+ "* 6/U2012 .5,77� NI/2U13 S.Nfi2 � NI/2014 5,950 NII2012 6.1139 6�V201G 6.130 6/V2017 622 � 6l1/2018 6315 6�1/201Y 6 410 G/V2f72U 6�06 � ii?p7 $ 7L87i71N 55 � � � KODIAK ISLAND BOROUGII . Notes [o Rasic Financial Statements. Continued � .W�horized Priorvurx Halancea� Retire�V Nalanceal � 4iscalvear Amo�mt Issned Re�ired Julyi.2010 LssueJ RefunJed JuneJ0.20�1 2009 67AO.IXN1 G]40.UIN1 12%S.WO SA55_q� 1285.aN1 A.UQOW r y y � 2011 R.WO.fI(q � — — R.IXNI,qNI — R.fIfN1.OW r r 19V8 d00.Of10 92019 36.@0 W,R99 >b�Nl 55.209 �. $ 46JSO.Of10 37.7I47.019 8,22I.120 29.625.899 B.00O,OOfI 2750.6�N7 34.Y75.20Y � S6 KODIAK ItiLAND BOROUGH " Nrncs �0 6asic Pinancial tiCrtemcnts, Conlinucd I he annual requircinenls lo amortiu oll gencral nhlign�ion bondeA dc61 and tl�c ADEC loan pacable outstanding ns o(June 30, 201 I, are as lollows: � General AUF.0 ubligalion loun payablc 'Co�nl Interest Ycdr endin¢ Lmc ill' ]II12 2J95.IIOU SJ75 ?9fr0.775 ISIS_6]3 201} ? RNRU00 i.gp2 2.XNS,NG2 1 J05 SJS � 2011 9d111t000 5.950 3DIQ95p 1290936 201i LG20.000 6.0}l Ib2G.079 LIGY.9Yb 201( LGRO.OUn o_q0 I GXO_I30 I.IIN.71G 21117-20?J YJNU.UOII �S..�si 9SOSAi3 4N2(�9tl9 � 2tp2-2U2R 9.53f10VU 9S3tI.0p11 19ii33G mn-_>o3i i.xso.ouo a.xsouno si.i_a3i 5 iJ.g211.000 Si?U9 34.%75.209 135R2.fi12 � At lune 30, 20I L tl�cre �vas� $5,326 nvailable in Ihe F.ducntion and Health Deb� Scrvice Fund to service generul obligalion bonds. Therc are a number of limita[ions nnd mslrictions contained in [he � various bond indemurcv. The Borough is in cnmpliance with all sigoificant limita�ions nnd restrictio�s. (b) NMes Payn6/e As of June 30, 20I L tlie Rurough hnd Ihe (ollowing no[es pavnblc outstandine in the Municipal SoliA Was�e Collection and Uisposal En�erprise Pund: ,� Notc pnyuhlc la Alas'Aa Department ofEnvironmenlal Cunserva�ion (ADF.C).lo 6e paid wi�hin?ll years. From June2. 1999 tmtil April 28, 2005 in�erest accrned a� 25°��. from April 29.2005 to Junc 30, 201 I interest uccrued ai I S;o. The frst bnn paymen[ is due oneyear following substantial compleiion and initiation of opera�ion ofthc lecility S 2,UOO,WO Note payable In Alaske Depatlme�f o(Gnvironmental Conscrvaliun (AUEC), In be pnid wi�hin 20 yeaa. Inleres� accrued at 3.8% over the li(e of thc loea T6e first lomi paymeN is duc une year following sus�aNial complefion and initiaGon ul'operabon otthe tacllfty $ 735.778 57 _ �' KOUTAK ISLAND BOROUGH . Notcs ro Basic Financial Sta(emenis, Con�inucd r (cf Clranges in Long-terni Liabililies � Long-tcrm liability activily fur Ihc ycar cndcd Junc 3Q 2011, was as follows: xulanre Bxixncr .IaneJO. .Imc30. Dnewi�hin r 20111 AJOi[ions IteAUClionx 21111 nc ycar C;memincnml �aiciiic: RonM1 pavehlc. y� U�na'al obllgelion bun�L� % 20.SM1S.U00 tl UOQ0011 2945000 J4.N20,VU0 ' J�5 OOU Uondpnminm 293.J12 49213 18,454 30A211 IRiSA 29,RJN:q2 NJIJ4..9} ?)[J455 15.121211 ',v93.9A y AI)I!C Inzns 60.N9V — i fi90 i520H 5]"/< Lnnipensumdehscn��. 2�3.05"i J92AU JiU,2h6 25520N l`).892 Toial $ 30.1�23%% n32i450 JJIV410 35,Ji4,428 2R9HJ21 � Husiness��ypeuniviiicc na��dapm soue waa� . CnIlcGion nn� Di.lx�zal' LunA011 doxurc nntl � posi-dnsurccozu S 195tti29 i]Y91G — t.U2J4J .- Nmcvpayohlc 19A9995 ]1i9n1 2,D5,'!]8 � laml 8 fi�42622 L12q4Y9 9B6tl121 r Hospiud FnciliGcs: 1 wg�enn imufund . hoemwine $ I,I]G.tlRA 9U,60i LI06.261 ]iJ55 � lb�ul % LI]6.Sfi4 9Uh03 I,IU6261 93Ji5 KuJink F ishcria li 5r-amh Cenlen � Lonelennin�ctlund bommnngs $ 4,91ip00 AIOA00 4.505.000 410000 Tmnl �8 a?ISAOO a�opon 45os.0oo a3o,000 � Rusince�-�lpcactirfilec. I.anJlill closurc anJ �nb clom�eu�sts b' 4,]5262] 9]l,')16 — 5,1323i3 -� laingicmi ini�rfunJ � Fnrtmvinps G,091AG1 — JAq(03 5,fi112G1 SIJ4i: Noicxpayablc 1,989,995 O4t,)83 2,935,]'IN � 'Ibml $ 12,839,ABti I_I20,4)9 48QG03 IJA]Y.382 �I3d55 For govemmcNal ac[ivities, compcnsatcd absences are generally liquidated by the General Fund. 58 r KODIAK ISLAND ROROUGH Notes to Hasic Financial Slatemen�s, Continucd (9) Fund Balanccs De�ailed information �cla�ed �o amowus classilled as nonspendable and commilte� fund balances at ]un 30, 201 I are as follows: FJuruiion Caplmllhn'�ealvnds hocilitics nndllexhh Sia�e KodiokHieh (Ahcr Ceneal Spaciel Ikbi Cupiml Schoul Grvcmnemel Pund Recenuefund Sen4cePund CRanis R<novalion Fu ds Nanspendnblt Prcpald itcros $' 6,801 - - - _ _ Iqng lemi recenables 2U(R lo[olnonspendable fiR01 - - . _ ��.7� C01➢IfI1��Pd: Fncilin�upgmAes DeM 6ervica Cnpimlpmjuls end up�rndes Hieh School Renovatlon Fim and ftoatl Service Areus CoasmlManoeement I and Sales Buildings and Gounds Sirce� Lich�Ine Ui�Vicis Taudsin DecelopnxN Mission lake Tkle Culc Fem Fulle�'Pmsi lb�alcoinmiucd S e Tn�al 6,ft01 '1.7W ]gjpj � i2?i5b87 � - ' � J9,2ij_6RJ � - it26 ' ' - 5�26 ' - 7J.i_SCq � 77J83>0 RJH3.R511 � " " - 7,103 i28 - 7.?lll � B - ' " - V�9b96 Y'9.696 - - ' ' 'Z137 ''�.U3 " ' ' _ '�28.000 9?ft.01N1 - - - - Ift9.6111 189b10 " " _ ' ?tl761 �87N - ' ' ' 112.076 112.078 - - - � �1.217 ?1117 W832J 7J&b?d � 39,255.6H7 5326 7d550U 7203Y-R IQ4,337� 57.637,J09 59 � r � KODIAK ISLAND ROROUGH � No�es to I3asic Pinnncial Stntemenls. CoNinued r QO) SoliU Waste Landfill Closarc and Poet Closure Care Cos[s � State and fedcial laws and regulations require that the Kodiak Island 6orough place n final cover on its landfill when closed and perform cerlain maintenance for a number of years atier closure. In eddition to � opemting expe�ses related to currenl activi[ies of the landtill, an expense provision and minted liability are � recognized based on the fu�ure closure and post ciosure care costs thnl will be incurred based on the date the landfill no lon�cr accep�s was�e. The recognition oC these IanJfill elusure and post closure eare eosts is based on the amounl of thc Inndfill uxd during �he ycar. The cs�imated liability N� landfill clowre and post closure cnre costs is $5,132,343 as uf June 30. 201 I, which is based on 84% usage (filled) of the landfill. � Thc laudfill is cslimatid to be filleJ anA unusable by the year 2014 Of the total liability nt June3Q 201I, an inttease of $374.716 wns recnrded in tlie current year based on current year usage and changes in cstimates. An estimaleA additional $977,SR9 will bc rcmgnized as dosure and posl closure care expenses " belween Iho da�e of [he S�atement of Net Assets nnd tlie date the landfill is e�pecred to be filled to capacity. 'I�he estima�ed ro�al current cost of the Inndfill closure and post closure eare of $6,109,932 is based on �hc � amount that would be paid i( Ihe landfll �vere elosed as of June3Q 201I. Ilowever. Ihe nctual cost of �. closm'e and post ebsure care may be higher due to inflation. cha�ges in lechnobgy, or changes in landfill la�vs and regula[ions. �I�hc Kodiak Island Borou� is required by slale anJ fe�dcral lews and regulations to make annual � contributions tu finanec cluwre and pos� closure care. The Kodiak Island Boroogh eomplies with [hese requircmcNS by annually rccording Ihe liability baseJ on the eslimates provided by the Kodiak Island 6orough�s Enginccring/Facilitics Dircctor. It is anlicipaled that fu[urc inflation costs and additionnl wsts " tliat might arise Gom changes in pos� closurc requirements, due �o changes in technology or more rigorous enviromnemal rcgulations. for esample, will be financed primarily by charges to future landfill uscrs and seeondarily by taxpapers-. In �he fscal year ended June 3U. 1999 �he Borough began initial planning for latcral expansion of �he landfill (Phase J). In Mey of 201 I bidding o� the projecl was begun and work is ongoing and expected to �� continue �hrough 2015. The laternl expansion has an es�imated nine to twelve year capacity. Capital costs to wmple[e is estimaled behvicen $4,527,660 and $5,091,732. r GII KODIAK ISLAND 130ROUGH Nolcs �o Basic Financial Sla�cments. Continued (11) Implemcnta�ionnfCA6B5d In 201 L the 6urough adopted the Gnvernmenf Accounting titanAards Roard (GASB) S[atemen� No. SJ, Fmid Bo(unce Rrpm�tin�; und Goreivmmniul F�aed Tj��e Defini[inns, which ehanged fund balancc reportin� rcquirements and dcf ni�ions. The effect of tlic implemcnlatiun o(GASB 54 on beginning (unJ balances for total governmental funds is as lolloas: Pio-G�SR 54 �und balances: Rc�crved: Longlerm interfunA ba'rowings $ Nrcpaid ilcros Unreccrvcd: Designotcd li�r cuh�a�ucnl yeer expenditures: General Pund Special Rcvcnue Funds Undesienatcd: Gencral Fund Specinl Revenuc FunJs Debt Service Ivnds Capital Project Funds i.726.303 15,703 1.423,158 356,820 9d3,815 37.174.162 22,255 8.403.174 'fo4�l fund balanccs $ Sq,065,390 (12) Insurance and Risk Rc�cntion AtTer GAAI3 _54 Pund bidancc Nonspendnblc $ SO,OdS Committcd 52,453,R71 Unassigned 1.561474 Tuial Cund balances $ Sd 065,390 The Kodiak Island Borough is csposed to numerous risks of loss associateJ with [he opemiions of a �;overnment Thesc polen�ial losses include, but are not limi[ed to, employcc relations and injuries. contcaets. theFl, loss or Jnmage o(property and general liability. The Horough manages its risks from tliese potential losses by pnnicipnting in (he Alaska Municipal League Joint Insurance Asaucialion, as well as purchaving commercial insuranec coverage. This insurance has provided the Borough with adeyuu[e coveragc in Ihe pasL There were no significant changes in insurancc arverage obtained and therc wcre no claims or seftlements iha� ecceeAed insurnnce cuverage in any of the past �hree fiscal years. The 6orough is a member in good standing of the Alnska Municipal League Joint Insurance Association (JIA), a governmen�al insurance pool esleblished by the Alaska Municipal League. Claims are covered on zn occurrence basis. JIA proviAes risk management services, appraisal services and (here is also a separate � pool for policy liability. �I�he KoAiak Islnnd 6orough Finance Diru;lor, the Kodiak Island Borou�h Mannger, anA �hc KodiaA Island Horough Mayor nre all members of the Board ofDirectnrs ofihe ]IA. GI " KODIAK ISLAND BOROUGH , Notes to Rasic I'inancinl Statements, Continucd �Phc responsibili�ics of bo�h JIA nnd �hc par�icipants erc as (ollows: � (a) Respwmibilities u%JIA 11A shall perfonn the follo�ving instructions in diticharging its responsibililies: � • Yrovide insurance coverage as necessnry for property, including building nnd contenU, automobile, mobile equipment and datn processing equipment, casualty, including general lizbility, public o0lcials and cmployus� liabililv, uulo liability and cmployiv� bcncfit liabiliry; � workcrs' wmpaisa�ion. including cmploycrs' liubili�y; commcreial blankct bond: and [ime clemcnt. • Assist each paRicipant�s assigned risk inanager with the implementation of that funetion. � • Provide loss prevention and anfety and wnsulling services �o paiticipenls as reyuired. • Provide dnims adjusting and subroga�ion services for claims covered by �he associatiodsjoint � insurancearrangemen�. � (b) Responsihililles of the ParOeJpaius � �I�he Participan�s ahall have Ihe following responsibilities: � • The Borough Asseinbly or appoinling oCficial of each participanl shall appuint a represen[ative .. as providui in Artidc 5, Scction 2 of thc bylaws anJ al Icast onc al�crnatc rcprescntative [o aticnd mcmbcr mcclings. • Each participant shall appoint nn employee of the participan[ ro be responsible�for Ihe risk " management func[ion within [ha[ entity and to serve as a liaison behveen the participant and JIA wi[h respectto risk management. � • Gach parlicipant shall maimain an ac�ivc sa(eiy o�ccr and/or conuni�tcc, and shall comply wi�h all rccommcndations of JIA conccrning �hc dcvclopmcnt and implcmen[n[ion of a loss control policy [o prevent unsafe practices. � • Cach participant shall maintain its own set of records as a loss log, in all categories of bss to insure awuracy ofJIA's loss reponing sys[em. � (13) Rental Revenues (n) Hospitnl Fncilities Enterprise Fnnd The Kodiak Isiand Rorough Assembly leases the Kodiak Island Hospitzl and Care Center premisc � and equipment [o Sisters of Providence dba. Providence Kodiak Island Medical Center who essumed responsibility for the hospital's operations as of April2l, 1997. 'fhe lease ngreemwt is cffective for a term of hventy years from thal date. The lense ia cnncelable by either pnrty wi�h a onc � year notice. The hospi�al capi[al asse�s. Ihc Iease ineomc, and all o�hcr costs relating �o the egreemen� arc accounred for by the Borough in ihe Hospital Facilities Ente�prise Fund. 62 KODIAK ISI.AND UOROUGII — Nntes ro Baslc Financial StntemcNS, Conlinucd The agreemcnl �rith Pro��iJcncc spccifics thal thc 13orougli wfll crontcibule at least $1 Ufi,000 per ycnc for Ihe purchasc o( ncw and repincement eyufpmcnt for �hc hospifnl. Thc L3orough is also rcquired to fund any major m�intenanec :md repairs projuts exceeding $25,000 in cosL The Horough receivcs � $6Q000 per mon�h in rcn�al rcvcnua In Augus12UU3, Ihc Icnse was amended and requircd Providenecto pay an addlGonal Iense peymetu oC$1,30U,000 fn 2004. In October2005 the lease �ras amcndecl �o remove the rcyuimmen� ihal Providence haA to pay 50% o[ the net revenues of �hc � huspital, up to $60Q000, fn rcnlxi rcvcnucs. Providcuce now has to spend 50% or more of their nct pro�i4, up lo $300,OOQ on equipmenL Thc Icnse was also amended lo havc the $108,000 of cyuipmeni whlch the Uorough was ru{uired In purchase annually �o becnme Providence property ,� ��ther than Rum�igh propetty. @) Kndiak F'ishrriesRcecnrek Ccnter The Kodiak Pishcries Rexcarch Cen�er (KHRC) Ienses its premise to Ihe Gcneral Sen�ices Administration (CSA), Naska Dcpartmenl of Ffsh and Gamc (ADF&G), Ihc GSA on bchalt of llepartmenl of Cnmmeme, National Oceanic and Atinosphcric ndministration (NOAA), and the � University of Alaska Fairbanks (UA1�. "Ihe lease wi�h the GSA is from Mzrch I, 20U3, through Scptember J0, 2018, cancelable with 120 days notice. Annual rent vuics Gom $37,500 to $41,O00. Rem wns $41,000 in 2011. 'ihe lease with ADF&G is froin October I, 199R through Sep�embcr 30, 2018, with an oplion to cxlcnd for up to hvo addilional fiva ycar periods. Annual rent is $52,800. Thc ann�al reni from 2012 � through 2018 will be adjusied lor ihe �rnanPs proportionate share o( building expenses and utiliia�ion oClhe seawaler system. 'I�he lease with NOAA is Gom October 7, 1998 througli September 3U, 2018, with an option to exlend ti�r up to four additional five year periods. Annual cent is $756,OOU plus operatiunal and maintenance expenses ol $754,437. Operational and maintcnnnce expenses are adjusted every fvc ycars to acmal costs. � The lease with UAF �vas originally from October I, 1998 U�mugh September30, 2018, eancelabie with 30 days notice, with an oplion lo cxtend fur up to two addi�ional five year periods. The State of — Alaskn cancelled the leasc for laboralory space effective Scptembcr I, 2011, but has continucd Icasing the domi space. The Stzte has not given notiee to caneel Ihis section oCthe lease in 2011. (74) RetirementCommihuen[s Tlie Dorough has adop�eA Guvernmenlal Accounling Standards' Doard (GASCi) Codification P20, .lccounling jnr Pe�ieiuns hy Sin(r and Lnc<d Govennnmm[ Emp7o}�ees and GASB Codifica[ion P50, .. Accounting rmd Fiiiancrnl Repnr[ing hy Eu�ploycrs fnr Po,cbemp[uyment Bc�refils Other dian Pensions. GASB Codificatlon N20 �nd Codificatiou P50 establish uni(onn atandards for the measurement, rccognition and dfsplay of pension and olher post-employment benefits other ihan � pensions (hcalthcare) cxpcnditures/expense and relatul liabilities, assets, note disclosure nnJ applieable required supplemcntnry info�nation in the financiel repons of s[ate and local governmen(al mnployers. 6S � � � KODIAK ISLAND 60ROUGH . Notes to Basic Financial Statemenls. Continucd r r Retiremenl Plons. All full-�imc employecs and cei7ain pcnnanent part-time employces of lhe Rorongh panicipa[e in the State of Alaska Public Employecv' Rctircmen� Syslem (PF.KS). In addi�ion to thc pcnsion plan Ihe system also adiuinisters a post�mployment heal[hcare benetit plan. � ,S'urrenar1' nf Si,qnificm¢ Accom�ling Policies. PLRS financial stalcmcnts arc prcpared using thc ncerual basis o( accounting. Plan member conhibutions are recognized in Ihe period in which the coniributions are due. The Borough's contribuliuns are recognizeA when due and a fominl r commitment lo provide ihe contributions has been made. BenefiLS and refunds are recognized when due nntl pa}nble in nccordznce with the terms uf �he plan. All plxn investments a�e reported at fair � marketvalueorestimotedfairmarketvalue. � Teruiina6nn Cns[s. If the Borough decides to terminate coverage for a depanmem, group, or other elassifica[ion of inembers. even if that lerminatiun resulls Crom the decision b divest ol a particulur govemmental function, all al%cted employees in that depanment. group nr other classification of � members become immcdialely vestcd in �he plan. The Borough must pay Io hnvc a tertnina[io� swdy complcicd. "Phe pnrpose of the study is to calculate the Borough's one-time rermination costs. The costs represent the amount necessary to fully fund [he cos[s of plan members who become �+ vesled [hrough this process and for other chnnges in actuarial assumptions, such as. endier than ccpceted rctiremen[, that arise from the nct of termination of eoverage. L3orough must pay a lump � sum within 60 days of tertnination or arrange a payment pinn �ha[ is zcceplable to the PERS � Adminis'trator. Plan Orersiglv. �Phe Borough contribuics to Oie Alaska Public 8mployees Retirement System (P[RS), which inciudes both a cost sharing multiple employer defined benefi� pcnsion and posF " employment healthcare plan nnd a defined contribulion plan. Both plans are adminis[ered by �he Commissioner of Administration and [he Alaska Retiremen� Managemcm Roard (ARMB). Bo[h PERti plans providcs ic[irement benefits including disability and death benefi[s, and pos[-employment � heallhcare to plan members and boncficiarics. The authoriTy to establish and amend bcnefit provisions is assigned m the ARMB. The Public Employee's Retiremen[ Sysrem issues a publicly available �� financial report Iha� includes financial statements and required supplementary infomiation for PBRS. r "lhis report may Ae ob[ained from [he sys[em at Pouch C, luneau, Alaska 9981 I. Alaska Poblic Fmployce Retircment System (NERS)—Defined Benefit Plan Plau Deecriptiorr mid Funding Agreemenl. BeneFts ves[ with five years of credited service. � Gmployees enrolled prior to July I. 7986 with five or more ycars of credited service are entitled to annual pension benetits beginning nt normal reliremrnt age 55 or cady retirement age 50. b�or employees enrolled aRer June 30, 1986, but before July I. 2006, the normal and eady retiremcnt � ages nre 60 and 55, respectivcly. Employces with 30 or more years of cmditcd scrvice may retire at any age and receive u normal benefit. Retiremen[ benefits ure calenlated by multiplying the average momhly compensation (AMC) limes � crcdited PBRS scrvicc limcs tlie perccntage mul�iplier. The AMC is de�ermincd by averaging the salaries earned during [he five highes[ ([hree highes[ for Police/Fire membcrs or mcmbers hired prior to 7uly I, 1996) wnsecutive payroll years. Members mast earn a[ least I I S days of credit in the last � yenr worked to include it in the AMC calcula�ion. The PF.RS pays a minimum benefi[ of $25 per month for each year of service when Ihe calculated benefit is less. 64 KOUTAK ISLANU 60ROUGEI — Notes lo Basic financial Statements, Continucd Thc percentage multipliers for pnlice/�lrc penonnel are 2% Cor Ihe first tcn ��ears of scn�icc and 2.5 % for all scrvice over 10 veurs. The pereenlage muhiplicr; for xll olher participnn[s are 2% for the firsi tcn ycarv, ?..25"/o for Ihe nezt �en yeaa, and 2.5 % fi�r all remaining service camed nn or aRcr Jul�� I� 1986. NI scrvice before �I�at dnte is calculaled �l2%. — Pos[-employmall healthcare benefits are provided witliout cos� to nll members first enrolled before July I, 1986. Members fiist enrolled after June 70, 1986 end who heve not reached age GU may elect � to puy for major mcdical bcncfits. Pension benefits ere adjusted each year based upon incmases in the Consumer Price Index (CPI) tbr the prior yeur. 7'hc increase in the beneFt. is 75% of ihe CPI increase up to a 9% maximum lor � ra;ipients who are at Ieasl age b5 or un divability or 50% of (he incrcase up in n 6°/ mnximum for recipients who nre at leasi nge 60 but under nge GS or who have becn ra�civing benefits (or at leas[ Ove years. Startiiig at age G5, or a� any age fnr Ihose employed befoin Juh� I, 1986, a retired — emploqce who remains in Nnska is cligible for an addi�ional allowancc equ,il l0 10% oC the base benefit or $50 a month, whichevcr is greater. Pns9 Re[n�emrnt Pension A<� uvlmm�ts. Posi rctircmcnl pcnsion udjus[menls (PRPAs) are grantcd annually to eligible beneti� rccipicnts when �hc consumer price indez (CPI) increaaes during the preceding calendar year. PRPAs are coleulated by mul�iplyi�i� the recipienfs base benehi, ineluding past YRPAS, times: — (a) 75% of the CPI incrcase in lhe preceding calendar ywr or 9%, whichever is less, if the recipicnt is a� least 65 or on PGRS disability; or � (h) 50% of Ihe CPI increase in the preceding calendar year ur 6%, whichever is less, if the rccipient is at least 6Q or has bern receiving bencfi�s for nl leas� �ve t�eurs. Ad hoc PRNAs, up to a masimum of 4"/0, may be granted to eligiblc recipients who first entered tlie PF.RS beCore July I, 1986, if the CPI increases and the Gnancial eondition of [he fund will permil an inereatie. In a vear where an ad hnc PRPA is granted, eligible recipients �vill receive the higher of thc Iwo calculalions. � PomdinR Po(icy. 'The Borough PGRS aclive membcrs are required to conhibu�c 675%(236% pension mst and 4.39% pos6cinployment healihcare costs) of tlicir annual covcrcJ salnry and the 6orough is -� irquiicd Io contribute nl an actuarial detennined ia[r, the curren� rate is 27.96% (9J9"/o pension cost and 18.17% post-employmen[ health care cos[). �fhe legislature cappeal �he employer rate at 22%, with �he Siale o( Alaska contribu�ing an on behalf payme�l (or Ihu difference be�ween the ac[uarial required — contribu�ion and the cap. On behalf paymwts by the S�a�c of Alaskn for [he 6orough's employees are recognized as revenues and espenditures/expenses during the yeu. The contribution requirements of plan inembers and �he Rorough are established and mav be amended by the ARMB. � During Ihe 25"' legislation session. tienate Rill 125 passrA, which eslablished a.lunc 3Q 2008 salary ilour u�der AS 3935255(a)(2). �I�he salary tlour is Ihc btal base salaries paid by an employer �o aclive cinployees of the system as of the fiscal year cnding June 30, 2008. The statu�e reyuires �he Divivion uf Retirement and Benefits (Division) �o cullect employer contributions a� a minimum ba�eJ on FY 2008 basc salaries. GS � . � KODIAK ISGAND BOROUGH � Notes lo Basic Pinnncinl Statcmenls, Continued � Arin�m! Pension Cost and On-BehnljPaymenls. The Borough's annuai pension cost Cor the years cnded June 3Q 2011, 201Q and 2009 werc $576,868, $533,24A, and $533,498, respectively, was equal to the Borough's acNal contribu[ians. For the ycar ended Juoe 30, 201 t the Sffi[e of Aleska � conhibuted $237,229 on behalf of the Borough, which was recognized as revenue and expendiNres. Alaska Public Employee ReHrement System (PERS) —Defiocd Contribution Plan Plan Description and Funding Requirements. Boroughs end Poblic Employers in the State of Alaskfl have a defined contribution retiremen[ plan for new hires firs[ enrolled on or after July I, 2006. Pla� � members makc manda[ory contribu[ions of 8% of gross eligible compensation. State statutes require the employer [o contribute 5% uf employees' eligible compensation. Additionally, employers are reyuired to contribute 0.55% to the retiree medical plaq 031% for occupational and death and � disnbility benefits and 3°/ of employers average annuxl employee compensation to the health ceimbursement arzangemen[ (I�IRA). The cmployer effcc[ive conhibution ra[e is 22%. Plan members are 100% vested with Iheir oontribu[ions. Mcmbers becomc vested in empioycrs' '� contribu[ions as Collows: 2 years of scrvico-25% � 3yearsafservice-50% 4 years of service — 75% � 5 years of service — 100% Plan provisions and con[ribu[ion requirements and amendments are established by the Alaska Retirement Management Board (ARMB). Total cuntributions for Ihe year ended June 30, 20I I are �, as foliows: GmQlo�er CmoloVCe � Defiued conlribulion $ 13,370 21,391 Rc[iree medicni plan ��qg9 _ Occupalionai dee[h and disability benefits 828 _ Nealth reimbursemen[ agreement (FIRA) 10,586 - � Defined benefit unfunded liability (DBUL) �2,553 - r AcNai conUibutions were equal to the annual required contributions. DefesreJCnrnpens'uliott Plaq The Kodiak Island Borough has Iwo deferzed compensa[ion plans crea[ed and amended in � acwrdance with In[emal Revenue Code Sec[ion 457. The plans are available [o all regulu Borough employees. The deferted compensa[ion is no[ available to empfoyees un[il termination, re[iremen[, death, or unforeseeable emergency. � All amounts defe�red under these plans are held in trusts that werc established Cor [hc exclusive benefit of plan participants. Amoun[s co�hibuted tu the plans by participants d�ring the year ended � June 30, 201 I, was $170,83R. 66 KODIAK ISLAND BOROUGH � Noies to I3nsic Pinancial Statemenls, Continued T6e first pl�n is managed by the Intcrnational Aorough Mnna�ers As-sociolion Retircmeni Coryoration. �85,912 wus coniributed to ihis plan duriug the year ended June 30, 201I. "I'lie Borough bclievcs �hat the plan does not meet the critena forincluston �s a fiduciary timd. ' "Phe second plan is m�nxged by the Hartford I��surance Company. $$4,926 was enntributed to ihis pinn durfng the ycar ended Juue 70, 2011. 'I'he Borough believcs tliat t6e plan decs not meel �he - ciiicria for inclusion as e fid�ciary Cund. (15) Contingencics �a� r,�,��,�,r 7�he Horough, in the normal course oC its �ctivities, is im�olved in rarious claims end pending litiga[ioa AClcr consultation with Icgal counsel, management es�imatcs Ihat Lhese mette�s will be resolved without material adversc effec( on the 13orough's fiiNre financial position or resultz of operations. N7 Grnnrs Amou�ts received or receivnble ftou� grantor agencies a�re su6ject to au�3it and adjusunent by the grantor agencies. Any disallowed claims, including amou¢ts already collected, would bccome a liability of the Ceneral or other applicable funAs. In inanagemenPs opinion, disallowances, if a�y, will no� be ma�erial. (16) Subsequcnt Eveuts Ma��agcmcnt have evaluztcd subseq�ent ev�nts tlirongh 1'ebivary 28, 20I2, lhe date whicli thc financial slatemen�s were avxileble for issne. On Sepfember 15, 2011, the Sorough issued Solid � Waste Disposal Facility E2evenuc I3onds in lhe amounl of 53,64Q000. (17) Restatements Certzin amounts have been mstated in Ahc prior year to wnform to lhe cun�ent ycar presentation. (IS) ConS[ructionCommitments 'The 6orough has outstanding commihnenls for conshvc[ion ai year end of 55,43,521. (19) Subseqnent Accounting Pronouncements The Go��emmentel Accounting S[andards Roard has passed several new aecomriing slandards with upcoming implementation dates covering several topfes as follows: � • GASR 57 - OPEB Measuremenls hV Agenl Employers rmd dgenl hful[iple- Employer Plnns • GASB 58 - dccoanating m�d /'inoncinl Reporlingfor Clmpter 9 Bonkn�plcies • GASB59-FinarscialLrslrurnei�tsOnmibe�s • GASR 60 -Accomrh'ng oud F�innnclnl Reporting Jor Service Cmrce�esinn Arrang[n�en�s � G7 � KODIAK IS1..�ND BOROUCFI � No�ns to Basic Financial Statements, Continued �. • GASR 61 — 1he l'inuncial RzpnrGrrg [%n�iry: O�nnibus nn A�nendmen� ojGAS'B S'taeemends NoJ4 nnd No- 34 • GASR 62 — CodrJiration <f AccounGfng au�l F'rnancia[ Repo�'ting G«iAance in Pre- � Navembcr 30, l9N9 FAS'!1 and A7CPAPrortoimcenicnlv • GASB 63 - Financinl Repm�nrg oJDeJened Outflows �f Recom�ce.r, Dcferred GiJlax�s oJRemm'ms, nnd A�c� Posilion � . GASB 64 -� Derira�ioc 7nsnume�rts: �pplimlinn r f Hedge Accounling Tu-rninntion Provisio+rs �� rni dmendrnerv uf(iA5'!3 No_ 53 Statemenis 57-62 and 64 aa mt cxpected to havc any significa�t impaa on the financial statemenis � of �he School District. In 7une 201 I, l'he GASB issucd Statement No. 63, — Finnucial Rrpoi9utg of De%rr¢d CJu(Jlorvs of � Recources, Deferred hi/laxu' ojResources, and Nei Poahion. The requiicments of Ihis statement icill help improve financial reporling by standardizing the � presenta�ion of deferred outtlows of resources and deferted inflows of msources and t6eir etfects on a gocemmenPs ne[ positioo. It allevia[es nncertainty about reporting those financia! s�atemeN elements by providing 6niidxnce wherc none previously existed. � 71iis slatement dizngcs �he name o( Ihe Statement of Net Assets [o the Statement of Net Position. The Statement of Net Position will report all asse[s, deferrecl ou�flows oC resources, Ifabilities, deferred inllo�vs uC resources mid net position. 7'he Net Pos'ilion will display Ihree components-net � inves[men[ in capital assets; restricled, with disclosuro of major cntegones of restrlctions; and unrestric[ed. � Co��cepts Statcment 4 deflned deferred out(lows of resources and dcCeired inflows of resources as "consumption of net assets by the gocermnent tha[ is applicnble [o a fulure repor[ing f scal year, and Nn acquisilion nC net nssels by Ihe govemmen[ ihat is appllcable to n furure reporting fiscal year". The Concept Stateinonl 4 defines ,i ncl positimi as 9he residual of all olher elements presentcd in a ` statcnwnt of nef position". r This statement is effcciive lbr financial siatmvents for penods beginning aHer Dewmber I5, 2011. 68 (This page was lek blank intentionally) Required Supplementary Information � KODIAK ISLANU HOROOG❑ Isndgelan Compuoimn tidicAWc GenemlFund � Yru enJud Jmc 30. 201 I ( W itli finnnciul infunnoliun for Ihc ��er rndcd Junc 10_ 20101 � 2U11 nce xith Pinalaltudge�- OudRe� Ibsili�e 21p0 � OriK�nal Final Acmal (�'eqali��a) Ac�ual � Revenues. Vropen� taees end assess�neni,c Rcal Persanal Bunl Moror.ehidc Pcnal�y and inteast Io�al pmpcm Wxes imd o.ac,.mcnu� Sc�emncelnses: Pisl� Mining � Lugging l owl scccrance lesc Imcrgo��crnmrniel' � Siaie wurces_ S�a�c Iic�cnue tihxring Ruo� liah Wx Pish re�9mlbanon � CoinmumiulPasxngcrVcscl la� 19uvic Ca-on ta. On bchWfPHRS �nymcm 1 nlxl nam ,murcc,c � I'ederal sources� Pnnncnts in Ilcu o�tbz¢ r�n A��a wanrre2.��,i�� cainmunity SdmWos c,em � Sch<wls nnd 2oud� -Grunls w Sinms lblul ledcral snurces Tntal in�crgorcmmeninl churgcs rov smiues � Sale of copic.v nnA �nups � I.icenres,pemiitsnndRcs: Puilding anJ vailer permits Subdrvision anJ wniny fccs� O�herpcnnih � lowl licensec permlts vnd (eex Imcslmrn� income O�her � Tolalrevenues ■ ,g 9_�99ppp 9JGYA00 9.193.I88 2A.I8R R.J211U10 1.1%9,000 107Y,OOU I.fY]N_169 (531) L016.93! 2d.00(1 2d000 JU]4J Ifi'lll 2Z4A 250_U00 ?s0I100 ?63.JGG I.1.166 26U.93Y I50.000 I SOD00 I R7.M1R"1 3].689 1328]G IU.806900 10.692.UI111 IU]G35?9 9L559 9XN3-IW Li00.01111 I550D00 L583.2]G 33.276 L2ri].691 20.000 211.000 4N55 (13.1351 19.9Q 20.00U 211.000 59_I3J 39_13A 2Rfi?U 1.3JOD00 1590_000 1.6492"]5 59295 133G11]5 ]i6.900 "13fi.Y0U 9?Z242 �l.LSN) 748JN9 12UOD00 I 1126.3A5 1.0263R5 - U39.i7? 50.000 500011 N8B59 IN.Rt9 (R.R�S 251100 ZSDOU I;962 1923R) S.4N] 269U0 2fi 000 2l� 952 952 26.716 120.420 12(1.420 216.6A2 9fi122 9%211 2J5%J20 198J]OS 2JOfi.Ri2 122.13"I 2_i07036 I 12QU00 1320000 I_i59935 19.93% 13(,I syl zszuuo zsz.000 �i�a�.�e� na.za�� zay.as� - - 2W.6J0 IA6? IA62 2399 I_i9?p00 I.SR.000 1535.169 (3b.873) I.riII.J]I 3930.32U 355(.905 ib42D09 85_304 1 V3.Sp9 q apll 8 i00 Z229 (G.0]i) 313J 60.000 GOA00 3968U 120320) G4.010 U.Z50 1]250 22.926 ifi96 4.0]5 13.000 13.U011 9788 13.L2) 22JfiY 90250 90250 7i3YA (19R56) 90249 200A00 - [21.G2N) (L !2R) 19A.56] 3NA50 sZtlyyG Sl5_008 G.032 IbJBN 152U3211 16.44GJ31 I(.042.872 196.61 I I5.(30929 [cominncd) 49 kOD1AK ISI.A�D IIOkUI'�611 [3uAgc�arp Cumperimn SchedWc � (lcneml Pund_conlinucd 1'rnr enJed Jw�c 31L 2011 ( W ith linxncial infurmnlion Ibr ihc �cur nideJ Junc 30. ]010) 2U11 � Afl]IIfP Nl� Ae�ual:\muun�e� FinalltuJget- RudK�� NuJpelan Itnvis Pnvi�ive 2010 Oritiinal Final (see]o1cA) (Ne�ati��e) Aemal E��ndi�ures: � Gcneml gaccrnmair. Urncralandadininiein�ion $ 3"ls�pp 3]5300 29fifi93 9X.G0] 26J.1z1 13oroughasxcmbl) 182.220 IN%220 199091 9_I'_Y IWBSG Bmm�gLmanuger 492JU3 R92JU3 -0123A'] ']9_7i6 121331 � Boruo�NCrk 5111574 SOISil J99_s20 J.OIJ J6].G53 [loroughmWrncy 108000 NN90U NG.?6? I.]3- 91Afi] Plnance dcpunman RI131J0 R033J0 ]]0,659 n fi91 969.IOU M�nngcn�cntinfrme�innn>otem,. R2.680 R�S.(NO 99(.J9j Jq2U5 G)lL9?I � AxccssingAcp;mniem 5]A_RSk 5]J_RF8 SSi212 2n.GJG 3]]]N'] ��ieinccnng�fuciliiic,adcpnnmcm 26U939 3(,09]Y 18216J 7Nfqi 202.%]9 lblvlpaiorulgoa�mmcn� J123.4"IJ -0.16'J9]J ?.]15.5i6 3"11Ai8 3.a2R.ri]R 1'nblicxalah-�niinvlcuno�ul Nspp(� NS.UUO NJ.125 %]5 RJ.12i Communip and emnumic dttelnpmcnr Cummuni�cde�elopmcntAcpnnmm�l ]4111J11 ]11 ]AO GNLO]] GLLGG• G:� IOY RuilJingoliiclul 153J]% Is;]�g IOR_ii0 i52JN IFZOG � Ifconomicdecdapinan G2o00 6"].000 L35)l 3_10"1 45_35ri l nlal communL� nnd e<nnomlc dc�clupincm 9(2518 '10251N NSl.21i0 10931N %3J.JN0 e��,�e„ey prery aa�o.,�� 6a.000 nx.aoo i i.�os s�,.xvs x ni i I Icalih und svnimtion depmwicni 2G%OUO 3%( l I< iy(.415 - 2GS626 �Jueuiion.cWmrcandrecreotlon IISD00 9r�Gpi Ni.690 IiI995 IiLJN'_ Parks anA rccmutlun t(p00 ib.UOU I: (,29 2L_']� — AodiuA Cnll �t and dtp lihnrirr `J3 UOU N] 11011 8].00U — g] pp0 Primv�and.cconda�cJucuGon 10.f110i50 IO.WU.35U 10.0�1135f1 `J98U.35U lbwlcspcndimrcc 1i.992_Jd2 1i.83].J1Z Is?p�540 i9yg)G IJ993.G4? P:.e .zo(re ame. � mia_epcndLwee d20.N]R (G]N9 I�R51YG ']']� sp� %i�.2]5 Othcefinen<inpfusev)a l'oan.atin.wt fl fi19.5pfp (L]90.892) U.55150U1 23Y.37? (I J99.19J) � C�IIIIIE.'C I11�1111� ��A�AOU` i (�.�)�i.�?ZJ (�.�]].UiJJ (�FG_i�li� �.Q��.$�9 ((�i�.$))) Ivndbalancambcginnln€ofycur 24N23)0 }_�Zq_Zpy Yun� belancc al rnd ul thc�car A 23I6_I86 ? 4R2_3Y0 NumA: lLis aehedWc Mc,e not indnAc cxpmiAiiures nl E2569IJ and n byinningticGci� of F99.71d on o mulli vcur � eommunin dceclo0nicnt pmJu:i_ Thoc c<al,v ure aeennndaied in �he Conununii� Dcudopmem Pnnd �ahieb is eumbinrd �v1th �he Geneml Funr7 fonhe Basic Financial S�aiementc Nolc6�. Smn¢conipan_ingnolumrcyulmdwppicmcnlnnlnForinx�imi. � TI � RUDIAK ISLAND ROROCGH Budgclup' Comperison SchcAuh SpeeiN 2erenar PunA–Fuciliiicv � 1'curcndcdJuvc30.2011 (N'ilh fmxnuN infonnniion lor thc �vu cnticd Jun<3a. 2o I[p � Rcrcnu¢.: Im cs�ncm Inconic � P.y+cndimrcc Cuntlnpcncics Ec«ss olrncnue. ocer � eependimrca Oihco tinancingxooru (uas)�. Tran.lcn out � Chunge in fund bulencc Fund holun �e, m bcgiuning al .cnr fund bula�� ti ui cnd of ccur r 2011 xnancc�vlb final Itudge� – x�e�.�� ro��t�e zuio Original Final Ac�ual (SeR+��'�9 Aclual 5 I flla.579 ID4l,.57'1 651.417 (39i.IfiU� 9?47R? 35'17 3! I141 Ja II41 Il)dtppll I(i12.i36 6iI.Al9 13fi1.1101 9i9.982 II.UJ3DOOI I�)�G_Si6] I]Gf1931) 2S(Ol (12(].5951 8 — ?6.pUU (109.5167 II35.iIG1 (327.XI3) 39365.199 32693.UI2 .8 ?225yGNi 39_3fii_I9Y Sa� �e<onipanyinp no��-� lo r�uired mpplemenlurv inforniatiue�_ ]I (This page was left blank intentionally) _ r KODIAK ISLAND QOROUGH Notes to Requircd Supplementan� In(ormation— Budgetary Con�parison Schedulcs r June 30, 201 I � Thc Borou h follows thesc 6 procedures in cstablishing thc badgctary data reflec[ed in (he fund fnancial sta�cments: � • The Rorough Manager inust submit [o the Borough Assembly by April 30 a proposed operating budge[ for [he tiscal ycar commencing the following,luly I. The operating budget includes proposed expenditures and the means of tinancing them. � • Public hearings are conduc[ed by the Borough Assembly [o obtain citizen comments. • By June IQ the budget is Iegally enacted throu� passage oCan ordinance by Borough Assembly ac[ion. If � the Rorough Assembly fnils to pass an ordinance, Ihe budget submitted by the L3orough Manager becomes tlie adopted budee[. • Amendments to thc budget can occur anylime during the fiscal year through thc Borough Asscmbly or � adminishative netion. Generally, the following ac[ions arc requimd at the level of ihc particularchan€e: — All new approprintions are authorized by an appropriation ordinancc Ihat amends tlie annual budget � ordinancc. — A resolution of Ihe 6orough Assembh� is required lu move (eppropria�c) amounts benvecn departments and prolecis. � — The adminislra�iun is authorized and direcled br the Rorough Assembly io effect the necessary linc ilem changes n�ithin the limits established by Items (I) and (2) above by project or department to properlv moni�or, account, and repoit reccip�s and expendilures. � • Ex enditwes ma nol le allp exceed a P Y � ppropiiations at the following levels Capi[al Projec[s Funds — pruject level, all othcr funAs—departmem Icvel. � • All funds, except Capitnl Projects Funds, are budgeted on an xnnual basis encompassing a fiscal year. Budge�s of Capi�al Projects Funds generally encompass tlie period from start-up to projcet completion, which is gencrally greater than one vear. � • Appropriations lapse at year end to [he ex[ent that Ihey have not becn expcnded for all funds, cxcept Capital Projects Funds, whieh lapse al projec[ coinpletion. _ • Budgets adop[eA by the Rorough Assembly arc in accordnnce with accou�ting principles generally eccepted in Ihe United States of America. • The Borough pnblished a separate 20i I budge[ documenL Tha[ document may be obtained Gom lhe � Kodiak Island Borough, Director of Finance, 710 Mill 6av Road, Kodiak. Alaska 99615. 72 (This page was left blank intentionally) Additional Supplementary Information � KOU1.4K ISI..M'U BOROCCH Budgemry Comp�riron tichudWc DeM Screiu� Pund - ILAuca�ion and H alth � Vcar ee�dW ]unv 30. 201 I (Wilh swnmirtized fmnncial inlunnaiian forlheycurendcd June30.20101 r Re�r�mcs: Imerenccrnn�cmuP Smlc muras � Ina�Imrn�Inrnme Tond reccnucs fzpcndimn5^. Umttal paccrnnmm � Uehi scn�ice Pn�apAl Inie2at lbml eepenJllura � P:zccss(drfi<icncp)ofrccemicc oc 7 �undcr) ospenJlwms OILco f nencfng sourm�: � Transf.rs in Changc In [wd helena: � FunJb�lence(dcficip.nibeginningofyexr Fund Aalxncc. at cnd of�wr lllll \'anamm ��tlh Original 4inal Rudgrt- xnJFinal Posili�-e 2010 Itudgrl Aclual (,CeKalicc) Amual S 2_I51_Ils 2.1-0Ri93 13J2?) 2I34(28 6.UU0 (79511 !13 J51] U.950) 2.157.115 2.110.hJ2 [16.JT7 ZI3ZG78 21-1G' �U59 [J99) 8.-0OJ 2J50.695 2]iU.6'J[I 5 ZGSiGO( 11R].JSR L2X].J72 i6 1.35U.620 JOSYb15 q.060091 (-0i67 J.Oi-0.630 (1.9035UUI fL91'1.J291 11(9291 U90(.452� L9U250U I YU2500 �,q2a,2g9 S (I(�9297 (16.9311 16917 2L255 i.43N S 5326 2z155 73 (This page was lefl blank intentionally) Nonmajor Governmental Funds NonMajor Special Revenue Funds � KODIAK ISLAND BOROUGH Combining �alance Sheet NonmejorGovemmcntal Punds ]une30,2011 (N'ilh summarized 6noncial infi�rmation aI June3Q 2010) r � Assets Fquity in cenVUl treasury � Rcceivables: S�ale ofAlaska . FcYlerai Governmen� Property m.ees y Land snlcs con�racts, due wilhin oneyrar O�her , Prepaid items Due from olher funds y� Land sale conlracts, duc afler one year Totul Liabili�ies nnd PunJ 13alances r Liabilifies: Accnun�s payable Cuslomer deposils � Due lo other funds Deferred rercnucs lblal Iia6lli�ics � Pond Balanccs: Konspendablc � Committed Unassiened r Total fund halances Toml Special Capifal Revenue Project Totals Funds Funds 2011 2010 5�' Z,Y52,G95 7,70R,575 IQG61,270 4.528,846 14,166 84,393 98,559 505,3GI — 2s1,230 251230 83.473 9.777 — 9,777 12.496 72,671 — 12.671 II.077 22]fiA 30,815 53.579 20.070 R79 879 — � � 36,250 21.704 — 21.704 14342 $ 3.031,779 8.075.892 11,109,671 5131915 $ 327,412 615.348 842790 377.170 I50 -- I50 L258 451,027 SO6,IH2 957,219 211A84 23.298 2Q270 d3,568 86.485 701917 IJAI.RIO I.Sd3.727 67G397 21704 — 21,704 7q.�43 3.6S5A22 7]3R t50 IQ423,372 4.534,198 (374,SGJ) (8042G8) (1,179,132) (13,022) ^_,331,862 6,934,082 Y,265,944 4,55t,518 $ 3,033_779 $075,892 IIJ09,67I 5,231.915 74 (This page was lek blank intentionally) � KODIAK ISI.AND IiOHUI-GII ('ambining SplGnrn� of Rcrivwcy h_cpendlwrec unA Chanpis In Pund Ralunc� � nbnmujm� Gm�cmmcmal limd. Ycarcndcdlune30_201I fR'ilh suminariveA financiiil infuminiiun f�r�carcndcd JuneJ0.201U� � Spccinl Capilxl Resenue Projecl 7�� 7 Fmde FunAx 2U11 21110 kevenucs: Vropenplavcsundasvcumatls ,5 I.IJti2J9 — 1.146.249 I.IIOAlB li�ansleniacwmodationslav 96384 — 96.384 ftF00i � Interpocemment�l_ Sla�esourus 2229A SSAiJ IU9352 ? 115373 Pederalsouruus 12d.97o 255.IG4 380.134 427.g30 Chargc Porseniiz_ GI?SIR —� 612.SIR 6h2.R29 � Licza.es,�emiitsand(ee. 32.G79 -- 32.G]J 3�IWi Imeslmcminmmc 31.U11 1g.109 bOJ20 ]6598 OHier 1_929 90.832 9? ]59 ZD76 �hlelrcvenuc ?.11fg036 469J59 ?S17.19i 4.53"1992 � [x�ndimres. Cuaan'. Gcnerl�o�crnnmw I.000_JY2 —. I.OUO]1? IJ6t¢10 Pnhlicsefca qsiyqg — Jc3.q9S 41R3hG � Cummunlbxndemnomicderclopumnt 101.075 — IU1075 IOOA9'_ Hrullh and xmilwtion dcpanmcni 105_6v6 IIti.6vG IOS.C95 1cn�icedisvic�inninlunancc i93i8N - 5913%g s.�'tM1N9] CupLlal outlay_ � tidwols — I.0]i91J LO"lJ9H L'..072 Gcnerul — 1917J.1"1 IJ13_JJ9 ZJiG953 Dchlscrvfce-inleresi t?J 5223 (25� � To�alc�pcnAilurar L25Y.ny2 29883l1 5.21R.U33 d]R7A96 I:xcccsfdc�iciencc)ulii7enuc.� urerfundcr�expaiAimm �IVI.b3G] [2sIA202) (?.71U,XJN) 25ASOi) Oihcv financing sources (uxcs)�. � L+m�Salcsproaed,� IS_021 .- 15�I21 Ii8B6] l}arehrsin 1662J] I]13Sa2 1.899]89 823A2] 'fransfasaw (1544856) �1.SJ4S56) p7J92]7 � Ncluihcrlinancinpm�nms�usrsl (1968.SR8) 1.713s.�2 1q4.454 7R]?6'1 Chm�FCinlimtlbfllanccs pSG0.22J) �R05.6601 Q3G5NSJ� 527.8hJ Fund boluncei in bcginning n(�cer 3.R12086 ].739942 I Lll IB2tl 4A27_655 � Pondbnlancctinlcnduf�ca $ 2.�31k(2 (�934Dtt2 9,3(syq.� q_SSSSIR ]5 r..ri, tq�dy- �� «�m�ai ow�i� ReaFeM�3 S�WC olAlvsFa r�ovcin, m,��i Lvndsvl._vinnlma��_duc��uM1in nne ycn O�M1tr Ilnc Imm whcrlund5 �a,�a sai� a��n,��u e�� n<<.��.�:�� lnul I.ialrilllin xnJ Funi111rlxnaefllclel�xl I.iabili�iu: Attaunlnp'v)Yble t'm orJCpusuw Duc m n�ha lnnrl. Ikiaad rercnu�a TolallivbiLUe. 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UqD1 Ia,N:a IY.IV — 192]J 105(y(. — 2Zfi00 � X011 IIII li � — IE29J2 Ii1.Nl9 JF 192]J IUSG96 INJyI — � — :0.119 — — — 2EDVY — — — ins nen � 05.4X bP_u � U:,SJB M➢U 2hOV9 IOSnV6 '_411� � fLAl61 25aV AS IRRSI U951) .._ . .. _ — _. ► p2A16� °599 4: [fiA95� �19fip � 13JV09 INJIII.) -?'_I i3,HiR I�3p IIJH011 RI,IYI (J,909) i5(.(. 2t.133 ("UI) O(>]R2) (�oniinuedl 10� NI 60D1.1K ItilARll NONUCGII Nmmioi��r Fpcuial Rcvrnuc Ivndz Cnml.iiinp tilalcnuyT ol Rcrcnnes Ilxl��iluiu. eM (hancee' in FunJ 6alancc�lDCfichsLlennlinuNl Pcoe ended ,lune ill, Zu I I (N'iih sinninuriieJlinenoinlinfunnmiun furlhc�mrcndcd Junc lll. ?U10] kcVmPeny iaxcs an� asec�amcn�s 91a , umVfiyllOmllx InmrememmaiuP tilale enun-ix fed7ul smini� Char¢es fnrsen¢e� Limvsas, permLe:mJ lcco Im cnl inwme Uha Tor,iliuumi. 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IS9 �G3U IHn 31J�I1 "lIJS] 19�9 G,(.U"I 96bY1 J523 JfiJU IJ16 ?D6RP3G 2J3F0"!5 � — fi,o9% — IVOU942 I_IGJJI9 . J53J')Y JI63h0 919]( — — IW.U]$ IOU45? — � — — WSbVP IOSGB� � — 11 .. �u:?bft >�N,R9"! ]2l i�23 625? IJ9)G .21 6.V`IN :.2:3 22SYn92 ZiJNll21 � ]I96 15U2 f'A68� IiMJ' IIYI b]6� 12UI YJn1 — — — IiU21 UtlBfiJ Ib��1J] 3'_i�'_] � 10(JO[�� IIS19:95E1 119JY291 I�•�SIlU1 IUl.NSN81 2AJ.:6J 21YI$ iS03 IfiN9GN1 IiNH] IISfiq]241 %5�11 � 9UIfi3 16.�U il].1Y2 1611841 3.P9211A6 3.AOfiGfiS 11209tl 21?I� J1A521 14]5921 2i31kG2 iR920N5 NJ KUUI:�K ISL4ND ROROCCH �'onmajorSpcciul Rc�cnuc funds � Firc an� RnnA 9m�ice Arcas fIm Prolcqion �mu No. 1 tiohcdiJe ol Rc�cnu s. lizpendilurcv. und Chunga in ivnJ Ii�Jnncr Ncticip � 13udual sind AcWal Fee¢ cnJcJ Junc31L 2UI I (P'i�h fwncial infonnalion fnr Ihc ctarcndeJ ]unc 30.201UI � \'arixnae with Final BuJget Final Positivc 2010 Budgcl Aclual (Negative) Achal kcccnues: Pmpem�laeesundasscssnicnis $ liti000 JSJ.6i1 2N.639 J55"]09 InLergo� crnmcnlzl: Slulcxuw�.-ev-eren6a . _ �� Chare�f<rz.acrc7ar "].?OU IG$00 9.600 IR_SSi Inceslmuu inu�mc . . R793 8.793 17_23_ O�hB1 1200 I]OS SO> 12_i51 .. Tuwl recawus -06J_A00 511.9i7 a7S37 SOY_I12( Idpend�ures: PuMIC safcly: Pcrsonnel 90.870 R3J` 14 G 956 o'1.7JD VOluntecly I S_O00 I4.8?0 I80 I A.-I9U I'ringebcne�is J12R1 A31I3 1193°_1 1i_�13 Prolessionul�cniccs 2.i00 83 2.A7'1 G7� Suppongoud�undscnfccz 1WJ59 17i y�5 I IO.P_61 IfiI.SGJ ('aplmi nulla� 190.000 171s3 172.717 G_il-I loLJcapcndiwrco ifU.J00 37-0]itl Ifi4(,J? i"21J I:zcess ol ru�-rnucs occr � c�prnJilurc. f4f10U01 177J ]9 217.17Y IJI.MI3 Olhcr f nuncing sources (us.Y): Tmnsl 7s outc � IlomughCup7tall'micas Q.-069.6091 UAG9.609) Nclulhcrllnancin�,wwccyfu�'csl fl.-IpA609) [IAG4GUH) ci,o�,��,i��,dhart��,�.- s �ao.000� u.zva.a3o� �i2s,_a,o� ni.aiz � Pund bolenec xl heeinning ol'. eur 9RR35R X I G. �JG I�imdldciiciiLalcnduf..m� 5 13UqD72) vxM.JSR � RJ � r � r � r KODIAK ISLAND 60ROUC11 Nonmujor Sptcial Recanue Punds Firr ond Kond Scn�ice Arcas— N'omrns Bar Pirc Ucpunmcm Schrdule ol Revenues, Gxpendimres. und Chungt. in Fund 13alance ii�d�e� o�,d n�wm Year cndcd lunc 30. 201 I (N'i�h f nancial in(ormation for �hc �car enJed Lme 70_ 2011)) Rcccnucs: Propctl)' Ia�cs and us'scvmrnlY Intcrgovcrnmrn�el: 61e�c sourc � - g�uni,a Chargcslbrscrciks I.Icrnscs. permils and le � Imesancm inmmc lb�W rc�cnucs F pcndiwrcr Public xal'cic: Pcnunncl scrdccs F�inec bamfi� Pral'cssionnl xcakcs Suppoil guod> unJ scn iccs Cupiml uulluc 7owlezpendimres Fxcess (deticienec7 o(rccenucs over�undcr7cxpendlmms Olhe� linancing sourccs: 7 ians(ers in: Kodiak Airpon Pire Dishicl Special Recenuc I'unA Chanec in fund bnlanm Fund I�olnncc. ol h �einningufycnr Pond halancc. el rnd ol vwr b'ariance with Final Budgel Final Posilive 2010 Bodge� AcNal (Negative) Acmxl $ 70?00 G9 772 1J281 7U1G7 — JJ4d ila� 39G 12000 L.626 626 12.612 1074 d32H 255 I5f1 2.000 2553 SSi 5.187 RR271 93.A2J SJ50 88.GI2 I.00U A4i u7 6Y0 ?00 il9 I8I dl? �SA00 13_7l0 1210 — a�_sao xa_oss un.aeii +t�ra 7zr�au ;?.v4u ua2a II(]Ofl 1X.G0] INUYI iN7'J3 �21i426] li_1831 23:!J3 ?9.NIJ 1250n 13.947 1147 13927 R' 115.926] ft.SW 2J.490 33�JG 322.723 37'J.077 $ 330887 323.323 R? KODIAK 151.4NU BOROUGH Nonm:jm� tipecial Rcvc�m< Punds firc und Ruad Sen�ioc Aruu- KodlaA Airpon fire Uistncl Schuiule of Recenuc>. FxpcnJiW�cx_ nnd Chnng� in I�und Haluncc Itud�rt unJ Acw�l Ycurvndcdlunci0.3011 (R i0i fn;nmiail In(nnnaiion (orlhe ccar cml d Jimc 10. ?UI O) 2U11 ke��cnucs: Nruperq txscv anA assccamcros Im aoncm in<umc lbiul rncmic� I!rpendilur �: Public sal'cn: Suppon goaJs sind scrviccs �r«.,_� „r�<��,��, �,c��,:�,d�i�„�ti Oiha'ilnnncinpfuscv7_ TNns�Yx auL \COmm�s Itur 19rr Ucporunan Spcciul RACIIIIC �'OOtI cnr�� r��a n�i��ti limd halnnce_ at bcglnuin� nl � nir Pund baluncc �ai rnd of � car �'��e..��m F'inal BudRet Fin:J Pusilice 2U70 6u�get Ac[ual (negalire� Acmal R 13 7uu I�136I p(� ��.7�g 3u0 2:0 (6A) 6d3 14�00 I-0=97 597 11.391 ie usl zx I1.IlUf1 U i79 S7o I1.(13 IN.0001 fIi.A77 2ii f13A]71 �R' R32 R32 930 �a.i3u ;;_iva � 'a v�� 3J_130 RG r r KODIAK ISLAVD 60ROUGH Nonnmjor Specinl Rcrenuc Ivnds Pire und Road Sen�ice Areas—Monashku 6a� Rond Sen�iee Arca Schedule of Revenues, ILrpendilures_ und Chmgea in FunA IlNan � ISudpe� and Acwal Ywr e�ided Jone i0_ 2011 (U'i�h f inancial in(nrma�ion ID� Ihe year ended lune 30. ?010) Rcccnucs: i c p rt� iezorand �cva.� n� ts Ini t mm i I S�al : w[c � fnC Im nmem in m� �r�,iai «,,.�,��., F.xpcndiwres_ Scn cc disvict inainicnancc: Pasonncl saviiex Fringc ham�iL Suppoil eoudx and scn�ico Sw�� ranu�alixundim' RanJ gmdLn dn If i R paiu un I mamt n� r A1 J c�p�ndiwms Gnce�s (del c enc� ] of¢venucs over[unJer)espenJi�ums FunJ halancc. at bcginning ul �car Pund halancc_ a� rnd nfyear EOII �'ariance with Final Budgel Final Positive 2010 Budgel Actual (Negative) Aetual $ 52.00(I 5?.BJ2 RJ2 52368 ] sou sx iaaz� a�s 52500 52900 40U 52.8D fiVU 3')1 2t1'l Wfi — IvJ II4J1 ll 3900 35J 35A6 14Y ?f1.000 17JSp 2.R42 1172tl 3A00 1.73R 126] �9-09 251100 od11SJ �9.OSJ1 �31113 52.500 3.&RY fl3%91 5h.5f10 5 [9R9� (9897 p37331 1375 I8.108 S 338G 4375 N7 RODIAK ISI,AND UOROUCH Nnninujor Spccinl Bcccnue funJa Pire snA Ro�d Scrvicc Arcaa- Scnicc Areu Vo_ I tichedulrofRcrcnucs.I;.eptnAimres. unJ Chnnpcs in f-und �alms� Rudecl end �cmul Yc�r cnJcd Jimc ill °p I I (U'ilh fm;inciol informalinn lirz �hc cc�rendcd Junc 30.2p10) Rcccnucs: Vropertc lexev xnd a¢e5snicnL� Inlcrguvcmmcmnl: SWIC You¢ca- �rOnls ��1�C5�111 YL inCnpl2 l nml re� cuuez 1-.�pendiwres Sen�icc dieirin maintcnnncc: Ncrsonnd scn5ccv Pringc hcnclns Suppon poods and scn ieez Snoo �cinocal/,randine Road gradinc'diichine Itcpuus �nd ninlnicnvmcz TnLil cxprndimres L�ccsxfdcGcicncclnfra�enuas mcrnindcri c�paidiiur<> fund bul;mcc. z� hcginning ot ccur Pund hxlnn<cui rnJ oCpeLr 2011 Fariance nith Final RuAget Final Posifive 2010 Budget Actual (�egative) Aclual 5 l3Z?OU 3AILSgv 13(IN9 3'_7751 — CS l 9I1: j 9(13 7_A9$ 3275011 3dJA92 1699? 335.i01 Z60U i?OG 2394 i_313 1 J50 133R 612 I A59 I lpp 90'J 3)I R22 IA11000 16p.8R9 Q0.889) y2R" IOIbsO 3-I.IIV G7i3d sy.187 30i000 153.152 i17a8 I3V72' d57.50U 35571U IIIIJ9U >49_:�i 8 llip.p007 U12181 IIN]82 i2Y96 JJJ9?2 ]049JG S 133_7f14 yyy.97 hYY r r � KODI9KISLANDBOROUGH Nonma�� r Spccl il R� � nu� FmW PireandlLOaA1 ni Ar�uti—U m,�F' �RoadS iciccAmu Schcdulc of Iten i I xp nJilur �n d CI � ngc n Fund Bnlan¢ ❑udgcl unJ AUUiI Y'cer rndcJ Jun< 34 201 I ( W i�h linanciol In�i�rnie�ion fnr Ihc peur ended Jwc i0, 2010) Rcvcnucs: Proprnp mxcs and x�scsvmcnU Intcrm��rnmrnlul: S�etc sourccs-proni.v' Llcenscs. � �'miu und le � Imcsmicnl incomc Toial revcnucs F.xpendimrex: Scnicc Jistric� nmintcnuncc: Pmsonncl s.n iccs Fnngc L�asfils Suppun guoJV onJ scn iiY> Snm� rcmomli>anAing Rua� gmdingldilching Rcpoin und mnintcnance "lomlezpendimitis Lsccss[dc�ieicncc7ofreccnues u�e�(undar)cxpcndllu�cs Pund helancc at hcginning o(�ear Fund balunw. nl cnd ofc�ar Varianee with Final Budget Final Positi��e 2UIU RuJKeI Ac�ual (Nega�ive) Acfual $ 12G.000 lia.332 N332 I?526J — li 20.00U 27b0U 7.G00 ?iL00 IJ00 800 19001 ?.633 W7JU0 16L732 15.032 IG2.Y14 I f100 1.35U 135p] 7%5 7011 9U5 2051 A7fi 311100 302 20.G1% 1723 351100 (.1.9GS R9Y(Sl 3h_UI] 3511U0 22.-I�5 12525 Ii315 ij.pp0 SS.SiI Ii1L5511 IWJ49 W7.7110 175S1N 1?7.%J%1 166.Jfi1 y Q2.RI6� 112.8161 (34J"]] 13401p 137.i54 $ 121.191 134.007 R9 RODIA6ISI.A�D 6UN01'CII Nonmejortipuial Re�cnuc Funrk � I'ire un� RoaJ Scn�iuc Amos linc Vic�. IZuud Acn iu,1rca Schcdi�lc o�H�7�amcK, Gprn�imicc nnA Changcs in IimA �Ddicip �SYdQCIA14� ACIII:II � v v,.��dw �,�� a zn i i (\Ahh Irlmnnel iulonnplWn �orlhCCw�CnACIljnnclQ?pllp Rc� . Vmpcm� mxc,. and acvessmcnL Inmremcnimemul Smc zouracs - pranls Imc�onan imm�ic lb�nl racnun b:vpendlwns�. Scn ecdrsvici inaiincn:m.c. Pcr nelse f+ingcbrncihsi��u Pml�sional srn i.�. Suppnn good.un<ISCniicc Snm� n�nocul,L.enJmp I<iied prxdinFdimlitnu Rcpafre rnJ mninicnancc 'fn�alcapenJiwiis r:.��. ��ra�� a,�,..��,�d��. fnnd fdcfdil in h�inninp nl pcer I LnA �dclidp. m cnd ot �csr Cnriance wi�L Final Nudgat 4inal Pasiti�c 2010 NvJQeI ,telual (\ev�alice) Aelual $ II OGi IV.8J0 23:� IID�2 — G 20U illl Q111 - � 11155 10819 i4-0G1 IIUIi IfiN �16Ni Ili — 10] �Ilt�� .y i 5G5 i.aGq - IUIi IS g. 3.UVU ZSAi �a�as� yg��, � IJI10 rgs _.IS 3_�su I j01] Un0 113l5 g,220 ?1}�: I'.5.11 s 2..)1 ? ,99 il.J.l(.1 1% i0G1 fbBGO� $ �s]09� �83u0i �u r KODIAK ISLANU ItOROIiGH Nonnmjur Spcciul Rcccmic RmAs fire.nA RondSen�ire Arras—Scrvicc Aaa No. 2 Schalulc of Recenuts_ Expcndi[ur s. anA Chunges in 14mA Ilalance Rudgcland Aclunl Ycarrndcd Junc J0.201 I ( W nh f nanciel infonnx�ion Ibr ihe �ear rnded lune 30. 20101 Rcvcnucs: � Imes�nrem inmmc P:,cpendi�ures Sen ict �istrict maimennnee - � Suppnn sen�iar Ixax� ol rc�cnucs o�cr � cxpcnAimres � 1=und bulance_ m he�inning ol cear Fund balancc. n� cnd ol �cur r r 2011 Variante xitA Final Budge� Final Positive 2010 Hudget Actual (Negxtive) Actual A' IUU JS f55) 90 1011 — 100 $ li JS 90 5_SL i A3I S S.SGG SS2I YI KODIAK ISLAND ROROUGII Nomm�jnr l'pecial Rccc�mc I�unds ('ux�ml Manugcmrn� 6'chcAidrofl2c�wmc.vJl.epcndiluas and Changcsln Pund Ralencc BuAgel;md Acwal Ycav cndcd Junc 30.2UI I (\4ilh linanciul iufnrmalinn I'onhc ycur<ndcd Junc 7V.2010) Rtccnucx_ Imago�cmmrn�sl: Sl�ic yourccY—pren�s hda�al snw'ccs- gmni. 1 uml rccrnuex i_.��,d�n�2�: Communitc'vnA cconnmlc Jaclopmrnc PI'vnninp und mnin� Gsccs.. fdclicirna�l ��t rc�awu ma'(anJcrlc�pcndnures I'unA hnlance_ a� bcei�nilnc of ccm� Pund balencc ul uid nt �ca \'ariance witli Final ItnAgel Finnl Positive 21qU 6ndgef Ac�nal �Negative) p�ry�� s J117 ?�Uf10 192"]J fJJ3G1 2iBhd 2JIIUf1 IY?7J Id]2fi) 2J.371 2J.VI10 2t�09Y [Z0991 2A.371 b - 14R2�1 [fi.R?5) 33.95R 33958 S ?].I;: li.9i8 92 _ � r r � r r r r KODIAK ISLAND BOROUGfI NonmulorSpeci.J lir�enue Ivnds ChiIJ Cun �ssixluncc Pro@r,nu Sdmdulc ofRa'cnucs. Cxpendilures. and Changes in Pund (Uc�iclq Uudgel ond Aaml 1'curended lune 30.201 I (W iih �inunciul informmion lur Ihe �roar endul June 30.20107 Retenues' Inrergovcrnmcn�aC S�xtc s'ourcey — FranU FcAmel �owccs v'unls r��i «.z�,�<s f �tnd W es: Hroltl andsa t i� deponmenc i er: mnel i r nee henel �— tiuppon Eood nnd services lomlczpenAhures I's �.. o� mrelwcs nv�er ecpcndi�ures I� unJ 1 Acl iciU. ul beeinning of � cur I�und (dcfici�l. el cnd ul �cer 1A11 Variance x'ifh Finxl Budge� Final Positive 3010 Budgel Aetual (Nega[ive) Achal $ ?43f19 105.('JG 105.596 RI9R( 105.GJG 105_69G IOs.GYS G3_455 �G_A45 6.G20 5'+_OV3 19�40 31SIfi9 �IID2� �Y9G9 2?_401 17_7`l3 J_609 IN_743 �p5b9G IOi.GY( IOS_gy5 5 O:I1 17311 5 f7311 17i11 93 KODIAK ISLAND BOHOIIGII Nonniujrn tipccfal Rc� ¢nuc I�unds LJ:_P.C. Sche�WC of Recenuea P=�pendiWrcs. and Chnnecs in I�und [Dclicill I3uJgc� und Aclual Yier enAcd ,lunc 30. ?U I I fN'ilh linnnciul infnrmmion �ortlic�curnidcd]unc70.20101 Rccrnucs' Intcrga�nnmanul: S�uic wuruus– ernn�� E�pcndlmrer Pu6lic.mfcn- Ncnannelsen5cax I-nngc bentfu� Support gooJ> end ea'� ica lomlczpcnAilurcx I�ccss fJcl iciene� ) ol reccnues o�crlundcq capcnAlures I�und �Aclicip. �I bcuinnln� a� �car PunJ Nclicip-sn cnA o(�eur \'ariancc wifh F'inxl Budget F'inal Positire 2010 6uAget Actual (NCga�ivc) Ae�ual 8 18Ji.� I8.ISA ?2.153 I+UOO 1254i 2.J57 IISY7 – 4531 16.5311 G.387 3JSJ I(IJ I 2.1 Il a_:a7 IR.GI 20J15 119b1) 22.3i1 S — Iln�� I9lU r17x1 lI7.ft011 I Il 1271 � IIG_7Gb [IA.BUI� IJ � r � r r KODIAK ISLANU BOROUGH Nonmular Special Revenuc I'unds I.anJ Sales SchcJulc ufftecenucs. Gxptndimres_ and Chungcs In PunA 13alenrn� 13ud6'et and Acwnl Year ended Junc 30, 201 I (Wiih tinnncial in(ommtion �or thc �cur cnAed Junc 30.211101 Itcccnues Inter�oeemmen�al_ ti�aie soumes - gten¢ fhargcx (orsenlces I.icenses_ pemiils and �cn inccvmcm incomc Oiher Io�nl ra��nucs Gvpcndiluns: Ccne zl guccmmcnc Ycnunncl wcnicc,v Frinpc b<ncfls r��,r�,,,��,��i .�,. �u. s��m E�, d d ��, lutd �pndiWC�� b:� (d I � n�.) �ir ��nuct i ir(undir]ixp�ndlwres O�hT fnuncine souccu: Land snle pmcerds Changc iv �unJ balanccx fund halanc� at heginning ol yeUr Fwd bulanee. nt end ol'� ur 2U71 Varianee with Final Budget Pinal Posi�ive 2010 I3u0get Aetual (Nega�ive) Actual $ — — 1.J I I 30L11u 2J05 Q7.8Y5) i-0.161 If100 750 1250) 7�0 I?S00 R31R @-IR2) 19A1'J Rfl 80 80 43.500 11253 f321-071 7'),I?2 IOSfi')11 IfB952 233R 96.861 Ii6.430 64071 R359 5_5_RR9 — 2J75 [2_Itil ?IZ00 SRJ67 (27567) 107.RRS 19i3?0 21d365 119.0151 260.635 1151.8201 12113.1121 f512Y?I 118L5131 I5,000 15.021 21 13R.8G7 b �130,%2U) �I%tl,UYU (51171) (42.6461 IJ37.795 1.1ROA41 $ 94Y 701 LB7.795 )i KUDI161ti1.4�U BOkOOf,ll Noumul��'tipec7al Rec�me Pund. 6u11dinES unJ Graunds Schululc nf Revcnuo�. I-:c�yidimr��. onJ Chanecs in PimA Ralancc 13udEn and Acmnl Ycur rndcd June ;0_ ?01 I (With Ilnuncial in�onnvliun for Ihc vc;ircnA� Iwc i0_ 201n) Recenucs: Intarpo�emmrnlul�. �9Lne murce> - kranL (�hPRl1 �OlSCIPIfl9 Imrrment Incom�� Oihcr l oinl recrnue. lapendiwrc.: Genernleoveminenc Sohool buOtllnc: Schoolbuildin;!mviiormnolr.. l'hiniak Shcuul 13amuFh hulllin¢ Mcnml hcv�llh mnicr Variou. boroueh huildin_s PurAruperknion und nuiuienunce 7 o�al enpeudimnx Ilrce..ldcfciaic�)olracenuec�i�ir (undcq c�prndiiun5 OiLcr Ilnancinp sourcen uu�� P. Irm�slin In' Grncral FunJ fncili�ies S��clsl Itcccnuc Pund l�rnn iars our. All Cupllul Pmjc�Ya Nn n�hcr linanuue �vmma,. f uet�l Chungu in IunA h�l'.mcc �und huluncc. ai hcglnning ol mur funJ buli�nce. ai cnJ of.mr \�ariance e�ith 4inal ItuJCr� Final Pnsitivr 211111 Iludgc� ,lemal (Seesli�e) Aemal �R � eea 589.G08 9%o.4N9 (AGLI 59]3na 3.UOU I 140 f 1.5G01 h JVS ISU IJ2 B7 LI i41195X $RLSM1Y f&1891 _SRRd83 1i01111 3.I100 31J39J � JI1DI111 JU.JJ? 9_A]$ 2�I SY9 iASUn Al67 2o.U33 IuX55n 4:5.]58 J]2601 fip.Xll1 JOO.A32 ix.ono te.av is�: a.i1a 10.1100 15p g gjp � p�� 3] 9N0 ]932±X 773.IN] 10.a91 N87.10] [192.i0(ry 1100.61X1 I.N%2 (J<Xfi2J1 34500 3A500 . IIiR.1100 IIAD00 Il�tIUU — 20�.00� f')SUUU) Ii2?UO 1�2 sOfl 215D00 % 1-140001 1?XJINI IN82 IR163-0 2?7.�2R Jli.is? x ix��io �n>>x ��o _ KODIAK ISI.AND ROROUGH � Nnnmajnr Spccial Rcccwc I-undv N�onAlnnd Aacs Svx� I.igh� tien�icc Ama � 9chcAulc of Rcccnucs_ IfxpaiAilurqa� end ('hangcs in fund 8alancc ❑uAgcl nnd Aauxl YwrcndcJ Iunc±0.201I � f W i�h fnuncial inlhrmalion fi�r Ihc ccar rndcJ lunc 30. ?010) r zni i �'ariancc with 4'i�al Budget � Finnl Positive IOIU NuJge� .4rhal (Negafive) Aclual Revenues': � Vrop-rtcte�cs�ndasscssincnL. A 10.7011 IO.A9R 19ft IU_3k7 Inceslincnlinconre 50 I?3 73 ^_13 � lolslrevcm�s 10350 IO.G21 DI 10_50U � Gxpendilures: Gcncral gocernn�enc Suppon goods and seniree 10350 5302 SD18 5.1-07 Ifcccss o(rcvcnues ocu' � cspcnd�urs S 5319 5319 5.35G Ivnd 6uluncc at breinnine of �car 13619 7?G7 � 1`und halancc. et cnd u(ccxr $ 17 938 I?.GI9 97 KODI.aK ISI,AND BOROUGII Nonniui�r lpcunl Re�cuuc Fund� lrinih� Island.v Sacc� I.igM Sarvice Area SchalWc n�'Recenuu_ I?apcndiiures, unJ Chanpcs 7n Pund Balancu 13udecl end Animl 1 cur cndnl Jilnc lO. ?O I I fU'iih financi;J inflntirnoon f rlhe �r.iraidcdJunc 70. 21)101 Hcoenu<r Pmp<rt�� Ieec,a an� 05scsvucnl> Imvshncnt inmme Ta1el ic�cnu5 E�pcnJiwrcz: Ocncrel pu�crnmcm: Suprym eoods and xervicas PAc �n nfre�cuuu o�u eepcndiwns Fund hal�ncr. m heginnlne nf��cur Pimd hnlanec �t end o�cexr �'ariance wi[h Final BuJRe� Final Posilire 2010 Bn�qet Arlual (Neµafive) Actual S J.AUO 5?91 891 J393 — 7i 73 II8 7.AUI1 �.1GJ ')Gl d.J91 dAflll I.RAO 25G0 I'781 �� 3.531 :�2J 3_710 7.�02 13'P x io.xze zioa 'JR r KODIAK ISLAND BOROUGfI Noninu,lur Speciul Re�enue Funds 7 uunsm Developmtnl 5chedWe ol Rn�amcs.8xpcnJilurex. �nd Chunges in 4und 13alnnec f3udgel ;uid � Yuul 1'rarendedJune30.2011 ( W ilh �innnciul inlormalion lor the year rndcA lune i0, 2U I O] Re�enues: 7 rensient accommoda�ions mx Inces�mnu incomc I o�al reccnues [zprndimrcr C'ommuniu� and cconumic dc�clopmnn: Pcrsonncltcnfccc� Fringc M1nicfils Cnm�acmd saviccs Com�ibuu vs tiuppon goc d mtl t r i s l �el �p n Lmr . P I �� mcrc pcnAnures PIInA balAnce. al hCglnningnl yr�r I�und balance. al end ol'� ear Varixnce wifh Final Hudget Final Posi�ive 2010 Budget Actual �Negafive) Aemal y 911J1011 lG.3tlJ (.3N4 Rh.Ulli 250 SU7 259 I 3R0 Y11 2511 Yl X11 l bll %7 iNJ — 2.003 2.0031 — — 90� C90�) - IO.U00 — I2000 72D66 72066 — 76110G x.isa s isa » 90250 949"1( 1527A 7fi_I�I $ 21915 2�!)�j 11.762 Y41G3 7NYU1 5 I 12078 90_I63 Y9 KODIAK ISLAND BOROUGH V'omnujorSpsial Rcvcnue I'unJx �1ix_��inn I ake l idc Gm< SchcdWc n(Revenucx. FzpenJi W re�. and Chung ti in funJ iialanee Rudgcl and �clual Yr r cndcd Juuc ,90.201 I [ W i�h finoncial inlonvutiun lor tlic cror enJ<d Junc J0. 2010) Rccrnuc.v_ Prupcnc �aees anJ uxusxmrnts In�crgocanmenlal: Sta�c sourms - �ant. Inaccunenlincomc 1 o�al a�crnues I:xpendlWrcr Stn'iccdislri<� nwinlcnance_ Pcrsonncl .cnlccs 14inuc hcnc� i�x Vrofeslunel scrciccs Suppun Euud: �nA sa'cicex ToWI c�prnJimrc,. L�ccss ul rc�cnucs uv<r c�prndi�ures Fund b.iluncc m hceinning nl �cur I'und hnlance_ u! enJ uf � cur Varinnre x�ith Finel Bud�e� H'inal Posilicc 2111U Hud�et Aclual 1\'egafive) Artual 5 � d7n 4.3Ga x96 1.9oU — —� 10 230 li7 1731 2(G 3J00 ,1523 X27 4.076 LOUO I' 9qg R�q 1 f41 2Ji ? Up0 � - 2Afltl — 7U0 S n95 IM1 3J00 21 3.fi79 1.9W X 4502 J.i02 � 012 IGJIi 13_903 A 21317 IF"]IS IDR _ KODIAK ISI.AND BOROUCH � Nonniajor Fpcciel Rcccnuc FunJ� I-crn PullcrTm.vt � SchcAule nfke�7mcv. I!�pcndilu2.+. and Chanpcs in Puml Ralunce 13ud�;cl �nd AcWal Ycarcudcd Junc 30.?01 I � (R'i�h finencial infnnnaiion forlhc ccurendcJ lune30.20107 20I1 Varianre wifh Final Hudget � Final Positive 3010 Budget AcNal (Nega�ive) Actual Rcvcnucs: r Imesimen�Incomc S SD00 3-6i0 f137U1 YUJ7 Pspendiwres' (lenerel gncnnnicne � Uis�rihulinns�ohcncGciarics RS011 6.000 2500 8.500 s��,��E��a.a„ds7��«> >s [es) �sz lblel<xprndilures 8.500 GO')R ?.-102 Xh52 � IGccss �dcCciaio�) ol mccnu 5 oca'(undalcspailiWrcv [iiV01 RAb%1 13773) 391 O�her�inancin¢lusct)- � l'runsYersout IbSpIIPIfAC1I1tICel:mumllnel�lmd (�6.JO(I� I(6�OOf (G4aU0f Chimge in tund halance S QOd1001 ffiP 4b81 I A3? (GG.1091 � fund halanm. al bceinninF ��f ycur 5 � 7.�9p 58J GII I Fund halancc. a� cnA ol }car $ SAR.i2J 517A92 r r � KODIAK ISLAND BOROUGH Noninu,jor Spcciul Reccnuc I�unJs lYinnc Islands Nu�ing SuhcJidc o(Reccnucs�. P:�prndi�ures_ und Cliungc. in fund [Dclicill Iludgcl and Anu�l YcarcndcdJune30_2011 1 Wilh financiol iulbnnuliun Inr the �cer cnJal lunc 1fL 2U101 ka�amcs Crupcny iascs ond as��csxincniti Incn-lmcm fneome l oml recmucs F_epcnAimrcv: Scrvicc disvii7 m�inicnuncc - Suppcm gonAa and sarice. Dcht mn�ia - Inicreq lbnJ espcnJlwns I.vccsx ol rccaincg o�cr npcnJiwres funJ (delicill.u� hcginning ol ccur I�und (dt�lciU. m cnd nf.car 2011 Variance x�ith Finxl BuJReI Final Positive 2010 6nAgrf Ae�nal (Negn�ive) Actual S 19.7R0 IXJ29 7.J�19 2:.A1) ?20 3X( Ifi6 1907 I5�011 19.11> 3515 2G_Aifi I11 ]IIO — 10.400 S?00 - 1231 (292 ligpll 5=]t 101"]7 G?i2 % I}.NV2 I1.N42 2f1.?M fGIARl) fNI.GRRI 5 H7-02) IOI.J%Al 10? NonMajor Capital Project Funds .. r � r r Y � 0 2 O LL � C i m G _ G ° � o Z A n o " � a � � vi ;j = ° Y `o � - ' a o ' C U n Q O C ,1 Z c t 3 C S Y I I W C P r9 �S �.�j � T � P O �" v C N Sr1—h P d � C � O ^ coN�^ o � r � 9 � I I r F j I q N L �= O � z a` � o o c c - _ vwro r°{ V.�� -V, P i � � U L N � � � °F� � - 6i � V � I C G¢ p C r� C � V L r v, aA� � II�J�� O � r �^ ry � F O �p o J a` �o w bs Y v C O � N�^. O�t YCM �O r9 �9 R P PI �} �O � �O C O�NO O OMN N Q P N — '!� �D M M N O v�•0�'C �CM P �C. v�, � 1� W P O — 1� O W D m W 1� P N D O C�i C O I O O a I o N o I o y { 0 00 p N N P ��i ��i rv � I Y N C I I� C C O 4 cl v W I �� e K Y I aT T O � � D � b � � � a ve - 9 � L ?' G y 9 C �' � _ Y� � F � _ C NS N � � �J N . a ro YE9° o� . wv `c o 0 t �?+ � F- �y v � F- F- F- 'o ^' cs � v 9'O �Q �v _ �o.� �u � c—�vo:o w- o ot `—° E�: L,.=na - � ` 9 �V �vin°.Q v , s QOO V.� w C c: � ii c k C L^c _ _ L L C LL C C � 9 rv m � C C � Z - _ � J ' Y o � - e ,: € G ` v } C ° � _ .1 < z � L- ` 3 i w E U O N R C F t � i7 F � vva` K K C q G 4 p a o � r C �. � C � i °�a v G p N 0 m�a` ��_ ��P %^ N S N N �T T W C P � N y I I II I O - V^ Q ry —C T N Y I n rv .. " N M vi N O C ry �a 4 O Y C�} �'� �O C. O G r� � af; H .� C R f�l �G N t T [� — t � ? Y � C � ^ Y m W 1 .^ O rl P T ? P t� 1� C — ` I� D —O � ry ri M O O �T I`f � � i�` r r r C 1 � P T � h c o � � � o - o � v = �1 — YJ a W � � T � � ` v Y � r ow r �� C Y �t � � � C fc-` �O r-I �C' � - - � � 0 � - c � i � ^l 9 � 9 p � L � G - v E i u C V N� v N i G m n� O C y=. 4: E'o �� F�- `° F- � ci� � U a v v ,�c � 9�— _ o c .°. °a a v E 2_ c � c �`v'n LL u v �o '� �n V - � a :— _° O o. U °�' F` ? o 5 u O . �' 1 Enterprise Funds � KODIAK ISLAND BOROUGH � IinLerpriSCFunds ' Municipal Solid Wasre Collection and Disposxl � Schedule of Revenues, Expenses, and Changes in Net Assets � liudgcl and Actual r Year ended June 3Q 201 I � ( W ith �nnncial inf�rm��ion fur the year ended lune 30, 2010) 2011 Final Bud�e[ Final Positire 2010 Budeet Ac�ual (Neeative) Actoal � Operating revenues: Solid waste collec�ion $ - 8.414 8,414 3326,G0G . Solid wasre disposal 2975.743 ?,374,861 (88?) 1,098,668 Total operafing mvenues 2375,743 2383,275 7,532 4,325,27d r Operating cxpcmcs'. �� Personnel scrvices 878266 703,876 174,390 795.050 Solid was�e collection - 1,609J66 � Refuse disposal - 29J 19 (29J 19) 95$40R Cuntracted serviws 227,000 I I I 446 I 15,55d 275.876 " Malntcnancc nnd repairs 25,000 21743 13,257 )0,793 � Landfll closure and postclosurc coslx 580,937 17d.716 20h,221 367,2fi3 Dcprecia�ion 371120 28Q516 (6,396) 27Q-088 . Gcncralend¢dminisVation 2d2,650 245_qFR (2,N18) ?04366 Recyclfn,services 250,000 235,339 IJ.(61 267518 � Contribulions 13,500 5,688 7,812 13207 To[al operating cxpenses 2,501,473 2.00791 I 493SG2 4252,135 Operalinginco�ne(loss) (LS]30) 375,364 SOIA94 73,139 � Nonopeeating revenues (expenses): . Stateo(Alaskaon-behalfpaynient 30,730 14,704 45.474 25,095 Inves(mentincome 120,000 57,721 (G2,279) 124,478 r I�tereslexpense Q5,000) (184,2211 (159,221) (31,013) IncomeQoss)beforetrensfers 263,568 325,028 191b99 Transfersin I3,500 (I3,500) 13,500 � Change in net asetls 5 - 277,068 311,528 205.199 Nel essets, a� beginning o(year J,%33271 4,628,072 Ne� asse�s, zl end ofyear $ 5,110,339 d,833,271 105 KODIAK ISLAND ROROOCII Linterprise PunAs Ilospital fucililics Schedule of Revenucs, Expenses, nnd Chenges in Net Assets l3udge[ and Acluxl Yeaz cnded June?0. Z01 I 1 µ'ilh finnncinl infor�nation (or Ihc yenr cndM lunc 30. ?010) 2011 Opereting revenues_ Lease income OperntinG ecpcnsca: Pcrzonnel services Mainrennncr and repai�.�� Deprcciation Gencrnl and adminis�ialiun l i��al opera�in_ expcnti s Opc�atin_ incoine tloul Othe�incumc(espense7' ConVi6ulion m Providence Hospftal Stalc oP A Iaske on-6ch�If paymrnl C'HC reimburscmenLs Investmem incomc Imerest cvpense Income Qoss] befom Irans@r.v "liansfersin Changcin ne[asse�s Nci assels, at beginning ofyuhr Net assets, at end of year Varianee x�ilh Final Bud�e� Final Pnsi�ive 2010 Bud�et Actual (Neqatice) Aetuxl 3 720,000 720.UOU 720.000 — 5,000 (�.0001 5,000 IIIAW — 10,000 — SG7980 R1R210 (2601 872.RSR — �i 877.9R0 &T.2J0 d7J0 877.9oi Q97.980� �153 ?d07 (4.740) (19.9031 (108.000) �108.000) — lIOR.000) — _ ��g — � 1,147J62 IOA00 15.503 i.503 16J0? (46,375) WG375� (49,117� (302,3SS1 2�".112] 10.243 899.672 GG,s00 66500 - 6G 500 y [?35,g551 (225,612) 10,243 9I6.772 21,139.913 2�233JJ1 S 2U914301 2I,139,911 106 _ � KODIAK ISLAND BOROUGH Enterprise Funds Kodiak Fisheries Research Center � Schedule oCRevenues, Expenses, and Changes in Net Assets Budget and Mmal � Year ended lune 3Q 201 I ' ( With financial information foe tlie year ended lune 3Q 2010) r 2U11 � r Operating revenues'. Lease income r • r � r Operaling expenses: Persoonel services Meintenante and repairs Dcpmciation Geneml and udministration: Cleanin� and janirorial Hentim_ [lectricul Plwnbing Air conditionino F.Ievaturs Miscelleneous Total operatin� expenses Operating fncome Qoss) Olher income (expense): S[are o1�Alaska on-behal(payment ImestmeN income Interesl expensc 'I'ohal other income (espense) Change io net aase�y Net asse�s, at beginning ofyear Net asse�s, at end of year Final Bndget Final Povitire 2010 Budge� Aetual (NeQatire) Actual $ 1.60Z850 2Al2.86d 4U5,014 1.602,685 33QR66 341.216 Q0,750) 338.361 51,200 1 51,196 — 744.420 631,927 112,493 631,123 d9,900 d9,593 307 50,573 195.080 _31,777 (36,G97) 17d_655 Ift8,000 I6L.996 26.00d 156JOY I6Q500 27,767 I38.733 106.735 S,J00 765 -0,735 36 3,000 2,187 813 1,223 134,200 77,670 i6,530 117378 1,858bGG 1,524,902 333764 L576793 (2>0,816) 487.962 71?50 25,$93 . 9,090 5,883 (3207) SA90 SQ000 27,701 (2?.299) Sfi,887 (322,�5?5j� (322,525) (350,787) �16( 5,43$)- (_88, 41 (25.506 (?85.810) $ (514,251) 199,021 45,744 (25Q918) 10,084,308 10,3J4,226 $ 10.28332v IOA84,308 107 KODIAK ISLAND 60ROUGH fnterprise Funds � ll I Services fund Schedule o( Revenues, Expenses. und — Changes in Net As'se�s Rudgcl and Ac[ual YearendeA.lune30.2011 � (Wilh ilnancial inPoimafion for thc year cnded lune 3Q 2010) 2011 Variance with Final Bu�Ket � Final Positivr 2010 BuA�e� Aclual (Ncga�ive) Actual Operating revenues: � Customercharges � SO.p00 i7.0y1 3.OJ1 .4Z.a7a Operating e�pciues' Personncl scrviccs 2,500 7.U00 (S00) i.000 �' Miscellancuus (79) 395 Tclephone services 47500 49962 (2,J62) 39.079 Totalopera�ingcapenses SOA00 53A41 � � (3.Odq 4_A74 Operatingincome ,$ _ Ne� asscls, a� beeinning ot vicer � Nef asce�s, at wd of yenr y _ 108 Supplementary Schedules � � KOUTAK ISL.�ND BOROUCH SUMMARY OF BONDE� DEBT SERVICE REQUIREMENTS TO MATURITY r June70.2011 Mnual p�inoipsl end intea'est rcqulreinenh on General Obliga�inn Rcfunding znd Construqlon �onels. r Ycar Princioal Imerest l'olal � 2012 2,775,000 I,SI4,845 4,289,R45 2013 2,88Q000 1.404,807 q,26Q807 20IA 3,005,000 1,29Q2R2 4,295,282 � 2�15 1,62Q000 1,169,432 2,789,432 201ti 1,6NU,000 1,103,932 2,783,932 2017 I,745,000 I,U75,A62 2,78Q4h2 � 201R I815,000 967,148 2,782.148 , 2019 I N9q000 892,618 2,I&2,618 2020 1.975.000 8II.123 2,]%G.12.i 2021 2 OSSA00 924,V99 2,]]9.499 � 2022 2,145.000 634,275 2,]]9,275 � 2023 2,25q000 537,955 2,9R3,955 2024 2,355,000 425,530 2,78QS30 ' 2025 1,775,000 310,643 2,OX5,643 r 2036 I,OOS,U00 244.410 1,249,410 2027 I 050,000 IY5,863 1,2a9,863 � 2028 I,IOS,OOU 142,9i6 1,249 ]56 •'' 2029 i75,000 R6,8G9 621,869 2030 565,000 59,450 fi2Q450 2031 595,000 10,494 625,49a $ 34N20000 $ 13,578,391 5 48398.391 r � 109 xot»aK is�,�nu nouoccn GPT [;BAL 06LIGA f10N OOND, 2004 SF.I:I�.S C HP.'11121iMGNT SCHIfDULF' June30,2011 2004 C BOND lSSUE Tliis Iesue, da�ed ]uly 7, 2003 was issucd nnder n book emp� sys[em regivtcred in iLc neine of Cedc & Company, ux nbminec of the. Deposimry Tma Companp, Ncu� York, New Yo�k, Ihe sccurifics depwilop Cur [he 2004 Scoies C �ond. 7hls issuc was morkelul by Ihe Alaskn Mm�icipol Uund Bnnk. Legol upinion was rendered by bond eouncil, Wnhlfonh, Vassnr, lolmson & Arechl ofMchomge, Alnska.'1 hls bon� wa,v issued to Pond plan�ing, desigq und mnsIIUCtion of capilnl improvemrnts to Ihe I.arsen Bfly Sehool, Kodluk Middle School and KodiaF High SchooL l'he procecds will nlso be used lo dwelop an certhqwke evalualiun pinn. buerestdue Fiscal vc:u Inicres� mlc ]u1y01 �� 4.000°0 lA"1,636 2013 4.000"� 13Q13fi 2074 4U00",5 130,836 2015 4.10090 122,13h 201ti 4250% 113,13G zon nsoueo io3,soi 2018 4_40U°a 93,194 2079 4.500",'o ftZ7.29 2020 4500"/0 70,SG9 202� 462i°!o 58,OA2 202? M1]50% 45,032 2023 4.R00% 31,091 2024 4.X(10% 15,960 S I,li2 48R Princip;ilAuc Lvcres�duo IuIY 01 1e�mwv Ol l�mnl 40Q000 1-0"].fii6 695,D2 4I5,000 139,13( 69J.272 4i5,000 13q836 696,fi42 45q000 122.136 694,]J2 47Q000 113.13G 696.272 aas.000 ios.soi e9z.00z 510,0011 93,19A 69fi?88 53Q000 tlZ,229 fi94458 555,000 70569 l9ql?R SR0,000 58,082 69fi.164 605,0(10 45,032 G95,064 6JSp00 31,�47 697.082 665,000 ISy60 696,920 $ 6735000 $ I 152,48R S 9039.9]6 � r � KODIAK IS1.,1ND I{OROUG[1 GGNGRN.OBLIG9TION BONq 2004 SGRIP.S B � RIdIIR[;MHNT SCHG W LE . fu�e 30, 2011 � 20U4 B BOND ISSUN; 'I'his issue, dam�l Uccem6ev I, 2004, ws' isvued under a book eniry sys[em regis[ved in �he nenie ufCedc dk Compang es Nominee of Ihe Deposimry 1'mst CompnnY. New Yo�k, New York, Iha securi�ies deposilory Cor thc � 2004 Scries 8 Bond. This issuc wns mvkcteA by the Aleska Municlpal L�ond Bank. Legal opinlon wns rendesecl bp bond conncil, WohlCOrth, Vassar, Johnsov & Brecht ofAnchoraqe, NRSka This bond wes issued w Pond thc acqoisition and constmction of school cupitel improvunonts in ILc Borough, inclndivg a new school pool and lhe Kodiak High School Voc Cd/Cl;usmom rulamation. ' Imercs� due Principel dua In�erast duc � I'iscal ycar In�eresl vam November Ol Fovcinbar Ol Mev 01 'Imnl 2012 3.50% 189,Sfi3 495.000 181,550 R46,413 � 2013 3.50°o IR1,550 4HQOOU 1]Z,975 844,525 � 2014 4.00 0 172,995 510,000 162,975 8A5,750 2015 a.00% 162,995 530,000 152,I75 844,950 201fi 400 o IS2,I75 SSO,U00 L11,175 843,350 r 2!)19 4-00% 141,175 5]Q000 129,]]5 840,950 201tl A.Op% 129,'175 595,000 117,87i 842,650 20I') 450°io 119,895 62U,000 103,925 X41,R00 � 2020 4.SV% 103,975 650,D00 89,300 843,225 2021 450% %9,900 G95,000 ]4,I17 838,413 2022 4.50% 94,113 705,000 Sft,SO 83'1,3fi3 � 2023 5.00% 58,250 940,0�0 39,]50 83$000 2024 5.00% 39,750 775,000 20,375 835,125 � 2025 5.00% 20,375 AI5,�00 - 835,375 8 1,617,896 4 8 700 000 $ 1,444 U13 S 11 97] 889 r � r r � �.00uK �si.aNO ¢oaouc�i G[�lJ1RAL 0I3L1(iA7lON 60ND, 2006 SP.RIFS A RIi7'IIi13YlENT SCIfGIIULIi June30,2011 20pN A 6nND ISSL'4; This ismc, dnted April I5, 200R, waz i,vsued undera bonk emp syswm r�isrercd iu thc nxme ofCcdc & Company, es Nomineeoflhe Deposiiory Trust Compnny, New York, Nc�v York, Ihe sccuritics dcpository for �hc 2008 Scries A I3ond. This fsvue wea markeh� by �he Aluka Muulcipal Bnnd t3enk 6ega1 opinion was rendued by bond couneil, Bimh, Horton, Dinner a�d Cherot o[And�oroge, Alaske.'fliis band was inucd G� fimd �he acyuisilim� ynd wnstmGlon afschool capitnl impm��ements iv t}m BomuFh, including a vew sehuol pouL � Inteie7. i Juc P�incipal due Intcrest Ane P�i,vicelycu L�iemetraic Oaiabcr0l Aun101 ,1nri101 ToWI 2013 5.00% 167,355 290,OOU 16],355 � 524,910 20B 5_00"/o IG0,105 30U,000 160,105 620,21U 201A 5.00% 152,fi05 32Q000 152,605 G25,21p �' 2015 S.00io 144.60i J35,000 14q,605 62J,210 ?Olfi 5 00% 136,J30 350,000 13fi,23p �72 qbp 2019 4.00% 129.A60 37Q000 I?a,4R0 G24.9(� 201k 4.00% 12QOB0 380,000 120.U80 62U,160 2019 4.00% L2,480 40Q000 1I2,AY0 62A,960 � 2020 425% IOJ,4N0 A15,000 704.480 623.9(0 2021 A25°o 95.661 43Q000 9s,F61 (2I,322 2022 438"/o N6.52A � 450,000 N6,52A 62J.048 2023 4.50% 76,1ri0 470,000 ]6,6X� 623,360 2024 h.70% G6.IOi 490,000 (6.105 622,210 � 2025 4.6U% 54,590 SI5,000 Sq,590 624,180 2026 4.90% 42,230 540,000 42,23� 62n.460 2027 5-00"/0 2v,n00 565,000 2'I.000 623,OI1D 202ft 5.00%u Ig875 595000 14.NIS 62q950 S 1,691,085 $ ],215,000 Y 1,691,OA5 $ IQ59],1]0 � 112 r F KODIAK ISL.4ND BOROUG[I GENGIiAL OBLIGATION 60ND, 2009 SEIUF.ti A � RETIREMENTSCHEDULE June30,2011 � 2009 A DOND ISSUE 'Ihls i.ssuc, datcd April 9, 2U09, wus issucd undcr a bwk cn�p� syslcm regismmd in Ihe vame ofCrnle& Company, es Nomivec of Ihe Deposilory Trusl Cmnpwig New Ym�k, Ncw York, �hc sccurities depasimry for tfie Crn�ernl � Obligx�ion I3ond, 2009 Serics A. 'Chis issue wns markded by Ibe Alazka Muvicipal 13unA Aenk l.egel opinion wu rendererl by bond co�ncil, Bi�ch, Honoq 6ilhier snd Cherol o[Aneho�age, Aluska'fLis 6ont1 wes issued m aPond the 1998 Scries A Bond issue. Inlems�doe Pnncipnld�a Ivrerestdue ' Piscalvcnr Inlcrest�atc AuF�ist I Februwv I Webmwy 1 'Imal � 2012 254% 83,J00 1,7J5,0I)0 83,400 1,501,800 . 2013 3.08 0 56,70U I,39Q000 Sb,"100 7,503,400 y 20I4 3.54% 2A,900 I,A45,U00 2R900 1,502,800 S 169.000 5 4.I70000 $ 16Y,000 3 4,508,000 r r r r 113 K011[AK ISLAND QOROOCH GIiNGRAL OBLIGA770N ➢OND, 20I ] SERIES ONF, RF,TIALMENTSCHEllULE 7une 30, 201 I ?(111 SERIES ONE BONU fSSUE This issue, dated Februnp� I5, 201 I, Was issued under e bonk en[ry sysfem regis�ered in the name oCCede � Company, as Nomfnee of the Depasilory Tmst Campany, New York, New Yark, Ihe securitics depository for the 2017 Series One 6onU. 'Ihis fssue was marketed by tlic Alaska Municipal Bond Dank. Ixgel opinion was rendered by hond wvncil, Hiroh, Horton, Bittner and Cherot of Anchorage, Alaska. This bond was iysued to fund Ihe High School Renovatiou end Renewal projecf. Piscal voar 2017 2013 2014 ?015 20fG 7017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 INerestrate 0.70°/ I.10% L53 % 2.U�% 236% 295% 3.12% 3.45 % 3]0%a 393% 4.80% 4.50% 4.R0% 520% 520% 5.20 % 520% 520°/ J20% 520% l��terest due Septem6er 01 173,37.5 169,200 164,925 IGQ500 G5,925 751,275 14G,475 IAq700 I33,900 12fi,800 119,400 I IQ256 IOq638 9Q544 79.975 68,93] 56,503 43,434 29,725 15,247 $ 2,237,678 Prindpel due April 01 275,000 2xs,000 295,000 305,000 31 Q000 32Q000 i3Q000 340,000 355,000 37Q000 785,000 405,000 425,000 445,000 465,000 485,000 510,000 535,000 565,000 595,000 a x,000 000 ]lh Interest duc Mamh 01 173,325 169,200 164,925 I 60,500 155,925 ISI,275 146,475 �40,700 733,900 126,800 I 19,400 � IIQ256 IOQ638 90,544 79,J75 68,931 56,503 43,434 29,725 15,247 $ 2,237,678 I oial G?Ib50 623,400 eza,xso 626,000 621,850 622,590 622,950 621,400 622,800 623,600 ti23,800 625,513 62G,295 G26,088 624,950 622,863 623,006 621,R69 624,450 625,494 $ 12,475,356 Statistical Section STATISTICAL SECTION This part of thc Kodiak Island Borough's comprehensive ennual financial repori prescnts dctailed � infonnaiion as a context for understanding what the infonnation in the (inancial statemcnts. notc disclosures, and required supplememaro information spys about thc govemmems' overall financial health. � Contcnts Page � Pinancial �Ihnds Z7ve.se e�chedide.v ennlain lre.rd in/oi'mn�ion lo help �he reader urrder.vlarzd � hmr !he gat�ernnteM's,�nancin[ yer/nrmance and rvell-heing have chanXed orerlime. 11G-120 � Revenue Cnpacity The.ce schedules rnnlain inJnrnm(inn In hely lhe readcr aser.cs Ihc gnvern- meni'.v mos� signiTcan� local rerenae �vourcr, �he properq� iaz 121-124 � DeUt Capacity These schedules pre.+�enl in(r�r�ncrtinn m help /he reader as.cess� the i�fforrla- biliry q/'the goi�ernmen�'s cm�ren� [ere[s aJ oms�andin,� debt and the gov- ernmem's ahilin� ro issue addi�io�aa/ debt in the j�n+re I25-129 Demogcaphic and Lconomic Inlormation 2'hese schedules oJ/i r den�ograpliic <md ecanomc indicaiors �o help dee � reader imderstand �he encirronmeni �rilhin uhieh d�e Rovernmen� :c finmr cinl actii�ities iake place. 130-136 � Sources: Unless otherwise noteA. the information in Ihese schedules is derived Gom the wmprehensive annual fnancial repons For �he revelam year. IIS (This page was left blank intentionally) _ _ - _ - _ x=-= �� _ z:-- _ _ 1� pZ- r 1 � .ix_ �_- __ .i - _- _ .i _=�u „_- ___ �i �. �� -_- .-_ :i "-= �= _=_ =I ` '� �I - _ ' , - J'� wp _ E ° � `v _ c�O. E _ E _ ° � _ � E V _ _ � t� s' n t,a _ _ o - _ E> e=' t'�== ' _- -_ = E _-- ✓. J c - e c � _ J r � IIIpdA IA.d[I� YONUI l:H �m� � l-JV � .. u.vi � a rrv� f 4 V - . a L u. Uww � — — _ _ — � b m� � ." + .. i xu_ . i usn. � p i rt vv a t � mu_ -. xu A. . n ri�ix � i� � ..vr .n i. � � i.iv u. � � KOUTAK ISLAND ROROUGH Pund 13alances ofGovernntcnral Funds Lasl lwo Fiscnl Ycers (modi�icA eccrual basis of accounting) � � General fund: � Nonspendable Commitled Unzssigned � "fo�al general �linA � Allolhergovern�nenlall'unds Nonspendable � Conunitted � Unassigned "fotal all o�hcr gwernmcnml Ponds � Fiscal Ycar 2010 2011 $ 15J03 $ 6,801 2366.973 I 952J57 S 2.382.676 $ 1959.558 S 34342 $ 21JOd 5^_.453.871 57.633.409 �805,499) (1,179,132) 5 51.682714 $ 56,475.981 r The Kodiak Island Rorough iinplememed GA6B id in Fiscal Year 201 I. 'fhal is �chy [here is onlv 2 years uf dela. a Ilft s : 6I I _ _ -I I �'� I ' � .:�. I,ll I :� + _ � . �'. Si I . II _ _ - _ r � �� __ � - . � �I - I - e _ � �I �II . l .. I�I .±�II ' I �II F �� _ I - ! ! �.19 ,� ; -- _ _� _ „ E � E .. _ - - _ € r _ � ._ �_ u ..._.� o � � xec rr- � _ _ � �,y_ -�>��x � R [� P — < �C GC [V F? 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Collections lolfllCull<etiuo.�toDate FnJetl furihe PerernlaCe inSnM1SCyuenl Percen[vFr Aune30, FiscalPCVr Amnum nfl.ecv �exrs lmaum ufLaw r ?W2 ]9]I3A9 ZJ59.flIA Oih 5��ty5 ].9]I389 100f1 200J A,ORI.)JY ]sq2.�gA 939 49A.RI1 NON(AY I00_U 2�1A M,I51511 ZGJZM1GS )iJ 513,829 A.ISIA9J IOQO � 200i p9552Gi tlG0�ZA3 9b.2 61.8J9 A]5l.ANO IW,U 200! 9]ii.2ii Y.22R2U3 )sy L2,3J2 99325J� IpLLO 20I19 9.1)RS9 ).1G9.{>6 9A,G 12fi25i Y295]II IOUII 200N V9q�]]s )fils]!L! 9(J 15G329 9,9]2.111 999 � 2009 IU,211 J61 102111209 499 9,ISG IU.2UX 5R5 9J8 2010 IU,B]Y296 II1JX"I.At.] 9fiJ 2R5.±2U 10.J]3]%) 990 21111 11916998 IIJOY,J9 999 ... IIA999i] 99] � Swmc Numugh gcn.ml Icdg.7. r � r r 12V U � C � C � ' � � � - _ ; ^ _ .Yr ' C c _ :1 L � C = Y � ��' � r� n� m v� vi T v� R T T z`_ c` 5 _ � i � = a � � � _ _ _ �. �� r� �, o� u ., E U i o _ � ' ' ' c'=r � - `c E c ± c c a�- 1 L L p r{ Y� T J rl �, T Y.. Y Z F ) 5 2_ - - x Y � 1 � x x�?,i � X X X S - LL - - - - E .Cj 9 C � - - U p C _ _ _ �� _-_'.-.vi..cvi , _-_E _ _ -� c '_ _ _ -."o c � - " - - � i � � _ c _ . - _ " ' G � _ v ` � „ - _ ` - _ _ - _ � � � .; ii =i _ _ _ _ _ _ _ _ _ _ �� ' _ ° a ' _ ' ' ' _ _ ' _ - ' vmC -�i' �°EE _ _ _ �. .. .. ., o� .. � c � e 9 � � x r �j � Y T v R ! � � � �� 1- - n Y C � � � � � � x m m a� a E 3.� F E F - �. � �.`. � � � � 7 7 pr 1� T Y'� "� � "'''J^ C Y �c,'m Ss'_ L o' ' _ _ _ _ _ _ ' _ ' _ L p J � E � E � � w � .w a c - ` ` - jy Y n �� t�i �i �I �1 �I �� e`� �i � r Kodiak Isiand Borough: r Gencral obligalion bonAs Ciri of Kodiak: General obligation bonds � Total r � r � r KODIAK ISLAND BOROUGI�1 Computalion of Direct and Ovciiapping Deht June 3U, 201 I . Percentage Kodiak Island Nr[ Deb[ Applicable �o this Rurough Onlstanding Go��ernmental tihareot' (a) Uni[ (b) Uebt (c) $ 34,820.000 100% $ 3d,82Q000 7.570,000 100% 7.57QOOU $ 42390,000 $ 42.390.000 (a) Gross debt outstunding less applicable ainounts in Ihe Deb1 Scrvicc Punds. (b) Determincd bv ratio o(assesscd vaivation of proper�y subject lu insalion in ovcrlap��ing unit Io valualion of propertp subjcc� to tnxaiion in repnrting unit. (o) Pm� Alaska Stanne 29Ai090 thero is a limit of 30 mills for nd velorem [axes. Per Alaska Stotute 29A�.100 the limita[ion on masimum mill rale docs not apply to taxes Icvied in pay bonds. Sources: 6orongh �cncral Icdger and Cih� of Kodiak records. 12G J O � F C � � ^ c C ,� i Z �li y ! n � � j N � � L f '1i � Q O � C �r� ry Y � � o�� v.�_ � f! Y 4J p Y h P N 1 �n O O � O f. C � G -( f 0 C Y ? ' O � �n O C P C � C C O o ��a.� N y C v A � P 1� C 1� ni 1� O C n c a � �f. O � '1 C 'T ^ C x C 00 r � C O C � i� � v p v O Y v' - c � ? O 9 G P. M O N C � �J M �/ P % Y /�1 %' Y 'S v T OC f1 O � T P �O Nt - 1� W U 1H C a 0 d a _ Q a F 0 v � � o C a � C T� r G G c F � v 9 � � i i / E `c _ � v � � � F 9 v L � D � � C U C L C y F G a G N s = m ti � s e ; `� 0 `c - � u m � � � v a � F � U � KOUTAK ISLAND BOROUGH Ratio of Annual DeM Service Expendimres for Generzl 6onded Dcbl In'(blal � General GnvernmcnEal ExpendiWres and'�rans�ers' I.ast Ten Fiscal Years � Total general Ratio of go��ernmental debt service Fiscal lo[erest Tu�al deM ecpeodltures [u general � year Principal(a) and fees service and transfers espendi[ures 2002 1,093837 853.543 1.949376 10,726,858 182 2003 1,13Q833 803,224 1,9A4,057 13,071957 14.9 2003 12�5.833 667.744 1.923577 11.014,093 IZS , 2005 1.78Q417 983J9i 2.7h3.G12 12.U27.717 ?3.0 � 2006 I.ftId553 Li83.d88 3,398A41 13.054.983 �G.O 2007 2.1003fi1 1,329.45G 3.d29.817 13337.188 25] . 2008 ?.'_05.d41 1.3i5,313 3.460755 14277.498 342 2009 2.495A56 1.571,?95 4.06C,351 I>9?2.441 3i5 � 2010 2.6fti.606 1350.620 4.036226 16�72540 ?4J 2011 ?.7?0.690 1332.Gd5 3983,335 17965.960 23.9 r (e) Serial maturities in the case of se�ial bonds: annual Debl Sercice Pund rcyuiremenls in Ihe cas'c of . [crm bonds. ' Sources: Borough gcnciel ledger end deM doninirntn. r r 128 KODIAK ISI.AND ROROUGH Rotios ol Ou�slending Debt by Typc � last'I�en Fiscal Ycars General Tutal Percentof '� Fiscal Obliga�inn Np�es Primary Prrsnnal Per Year 6uods Pap��ble Go��ernmeo[ Incomc CapiG '-0�2 16,615,000 1911321 18,526.221 4.ft8% 1.366 2003 Ii.620.U00 12d1,'S1 16.R61,25d 3.29% L7,36 2004 14385,000 L262J23 15.617.123 39R% 1,132 � 20U5 32.96i3OpU L?70?10 3d.235210 7.72% 2.522 2006 31.U5,000 L582.IRR 32,737.188 696"/0 2391 2007 29.060,000 1.636,924 3QC96.92d C3;% 2281 � ��A 34,86U.000 1.768.6fiU 36,628.660 6.68% �.681 2009 32'JS.000 I,RG4503 31J09,SOi 5.90% ZAJJ Z010 ?9.565.000 1989.995 iLSSJ995 *' �.277 � 2071 34.N20_000 2.735.778 37.5�5.77X * 3]63 No�e: Detail regarAing Ihe buruugh's outsmnding deM can be found in (he no�cs (u �he On�nciol stalenicnts. All � general obligntion bonds orc rdalcJ lo Governmcntal Ac�ivilies. all no�es payaMc are relnted [o busincs> type activitits. * Information not urailablc al rcpon timc. � 129 KODIAK ISI,AND BOROUGII Demogruphic und 6mnomic Swlislics lavl lcn I'itical ycars � Per Cepita PercentARe CalenJar Pervonal Personal School UnemploYmenl V'ear Populafiov (a) Ineome (c) Ineome (c) F.nrollmen� (b) Ra4 (c) � 2002 13.i(�5 392.277AOV 2R7R3 2.631 R.% � 2UI11 13.Gb3 399.R3fi.000 3U.05G 2.T0 2fi 20U4 IJ.RI7 JIR.977.OI111 31.791 2.677 R.7 � 2no5 1J577 AJ3.100A00 3}gf9 267x g.i 2U�i6 13.G93 J69312.UOU 35.8(U 2718 Z4 2007 13.-057 SIIG.J9RA00 38.D3 2(3( G.I r 211UR 13.(GJ SA8.0<)9.000 1L617 ?G71 G.G 200'J 13.95J 57].RIRAI'J ;I.AIIY 2.598 73 2010 13.Nfiu NA fJl 2.SM G] � 2011 13593 NA Idl '_.543 R.0 Suurces (a� ti1elc of Al�ska. UCRA cerllfied pnpul�lion. � (b� Alssk�Dep�ol'I:ducation.Ac�mgeDuil��lembec�hiphcPiealY�nrm��»�cecd.sm�e.ak.uaslule/Oi�ekFct�'ADVp�f, (cl UymtmcntofLuburuv�ing��»>calmis.InMrt.��tc.us (d) P r Capiln Per>onol Ineome �nd Personal Incunic figm'us mc nut �r� ucailuMc fi�r 2010 m 2111 I_ � r r � _- . - - � �_ - _ ` ��. - „ E % E _ -I � � � _ � io `Ix• n E :ii.i i pl -- Ca __ ._ i. � � -.ol � .i. i�� i . � _ .. _ L��. . ..i - ..� ��.1 i......i - �� 5 �� _ _ _ _ r r r r r � � = € H < � _ - ' ° _ ' ' e - '� _ � ^ _ � �, ' ^' e C� C� � � �� ' � _ ' ° _ c<g � � aN z r _ - ' d =: "_� < � �` �, a y = s� Yj g _ _ $ N __ __ � � � P� gm�'� °z�` i£ d'b,."� s" N _ _ e ' _ _ _ J � � F � -_ � n _ _ _ H .�, _- � om� � €.�Cg' r� ui ° v`.3.��' n _ £ ^i — __ry �-. — �£eg — — e��g E __ � £ ' - � . L t� � ` - y g _ 8 - _'_ 'E . 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