CAFR FY1989Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1989
TABLE OF CONTENTS
INTRODUCTORY SECTION
BOROUGH OFFICIALS
BOARDS AND COMMITTEES
MAP OF KODIAK ISLAND BOROUGH
GFOA CERTIFICATE OF ACHIEVEMENT
ORGANIZATIONAL CHART
LETTER OF TRANSMITTAL
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
COMBINED FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types and Account Groups
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual - General
Fund, Special Revenue Funds and Debt Service Funds
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings - Proprietary Fund Type - Enterprise Funds
Combined Statement of Changes in Financial Position -
Proprietary Fund Type - Enterprise Funds
Notes to Combined Financial Statements
COMBINING. INDIVIDUAL FUND AND ACCOUNT GROUP
FINANCIAL STATEMENTS
GENERAL FUND:
Balance Sheet
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balance - Budget and Actual
Schedule of Expenditures and Transfers -
Budget and Actual
EXHIBIT
PAGE
v
vi
viii
ix
x
xi
1
1 2
2 6
3 8
4 12
5 13
14
A -1
A -2
A -3
40
41
44
i
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1989
TABLE OF CONTENTS
(Continued)
ii
EXHIBIT
PAGE
SPECIAL REVENUE FUNDS:
Combining Balance Sheet
B -1
52
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances (Deficits)
B -2
54
Statement and Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual:
Fire and Road Service Districts:
Fire:
Area 1
B -3
57
Women's Bay
B -4
58
Road:
Monashka Bay
B -5
59
District 1
B -6
60
Women's Bay
B -7
61
Bay View Service Districts Road
B -8
62
Federal and State Grant Programs:
Mental Health Center
B -9
63
Mental Health Center - Schedule of Expenditures
B -10
64
Energy
B -11
65
Day Care
B -12
66
Education
B -13
66
Land Sales
B -15
56
Building and Grounds
B -14
69
Oil Spill Clean Up
B -16
70
DEBT SERVICE FUNDS:
Combining Balance Sheet
C -1
72
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance
C -2
73
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual:
School Bonds
C -3
74
CAPITAL PROJECTS FUNDS:
Combining Balance Sheet
D -1
76
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
D -2
78
Schedule of Capital Projects
D -3
80
ii
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1989
TABLE OF CONTENTS
(Continued)
iii
EXHIBIT
PAGE
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS:
Combining Balance Sheet
E -1
84
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings
E -2
86
Combining Statement of Changes in Financial Position
E -3
87
Sanitary Landfill:
Balance Sheet
E -4
88
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
E -5
89
Statement of Changes in Financial Position
E -6
90
Water:
Balance Sheet
E -7
92
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
E -8
94
Statement of Changes in Financial Position
E -9
95
Sewer:
Balance Sheet
E -10
96
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
E -11
98
Statement of Changes in Financial Position
E -12
99
Hospital:
Balance Sheet
E -13
100
Statement of Revenues, Expenses and
Changes in Fund Equity
E -14
102
Statement of Changes in Financial Position
E -15
103
TRUST AND AGENCY FUNDS:
Combining Statement of Changes in Assets,
Liabilities and Fund Balances
F -1
106
GENERAL FIXED ASSETS ACCOUNT GROUP:
Statement of General Fixed Assets by Source
G -1
108
Statement of General Fixed Assets by Function and Activity
G -2
109
Statement of Changes in General Fixed Assets by
Function and Activity
G -3
110
GENERAL LONG -TERM ACCOUNT GROUP:
Statement of General Long -Term Debt
H -1
112
iii
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1989
TABLE OF CONTENTS
(Continued)
STATISTICAL SECTION
TABLE
EXHIBIT
PAGE
SUPPLEMENTAL FINANCIAL DATA:
General Governmental Expenditures and Other Uses
Summary of debt service requirements
to maturity
I -1
114
General obligation school
improvement bonds, series 1984b
123
Property Tax Levies and Collections -
Retirement Schedule
I -2
115
General obligation school
improvement bonds, series 1986a
Retirement Schedule
4
I -3
116
General obligation school
refunding bonds, series 1989
Last Ten Fiscal Years
5
Retirement Schedule
Ten Largest Taxpayers
I -4
117
General obligation school
extension and improvement bonds,
128
Computation of Direct and Overlapping Debt
series 1980a Retirement
Schedule
I -5
118
General obligation refunding
bonds, series 1974a Retirement
Schedule
I -6
119
STATISTICAL SECTION
TABLE
PAGE
STATISTICAL TABLES:
General Governmental Expenditures and Other Uses
by Function - Last Ten Fiscal Years
1
122
General Revenues by Source - Last Ten Fiscal Years
2
123
Property Tax Levies and Collections -
Last Ten Fiscal Years
3
124
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
4
125
Property Tax Rates - All Overlapping Governments -
Last Ten Fiscal Years
5
126
Ten Largest Taxpayers
6
127
Ratio of Net General Bonded Debt - Last Ten Fiscal Years
7
128
Computation of Direct and Overlapping Debt
8
129
Computation of Legal Debt Margin
9
130
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Expenditures - Last Ten Fiscal Years
10
131
Demographic Statistics - Last Ten Fiscal Years
11
132
Salaries and Surety Bonds of Principal Officials
12
133
Summary of Debt Service Requirements to Maturity
13
135
General Obligation Bonds Outstanding:
School Refunding Bonds, Series 1974B
14
136
iv
BOROUGH OFFICIALS
KODIAK ISLAND BOROUGH
YEAR ENDED JUNE 30, 1989
BOROUGH ASSEMBLY
Alan Austerman '91
Ann Barker '89, Deputy Presiding Officer Tom Merriman '90
John Parker '91 Wayne Stevens '89
Jack L. McFarland '90 (Presiding Officer) Lorne "Lonnie" White '90
BOROUGH MAYOR
Jerome M. Selby '89
Charles E. "Bud" Cassidy . . . . .
. . . . . . . Resource Management Officer
David C. Crowe . . . . . . . . . .
. . . . . . . . . . . . . Borough Engineer
Pamela Delys - Baglien . . . . . . .
. . . . . . . . . . Mental Health Director
Linda L. Feed . . . . . . . . . . .
. . . . . . . . . . . . Planning Director
Patrick S. Carlson . . . . . . . .
. . . . . . . . . . . . Assessor /Appraiser
Jamin, Ebell, Bolger, Gentry . . .
. . . . (Contracted Firm) Borough Attorney
Robert MacFarlane . . . . . . . . .
. . . . . . . . . . Facilities Coordinator
Perry L. Page . . . . . . . . . . . .
. . . . . . . . . Data Processing Manager
Jerome M. Selby . . . . . . . . . .
. . . . . . . . . . . . Personnel Officer
Earl A. Smith . . . . . . . . . . .
. . . . . . . . . . . . . . . . Fire Chief
Gaye Vaughan . . . . . . . . . . .
. . . . . . . . . . . . . . Borough Clerk
Don Wee . . . . . . . . . . . . . .
. . . . . . . . . . Hospital Administrator
Bryce S. Weeks . . . . . . . . . .
. . . . . . . . Finance Director /Treasurer
Mary Ann Weidman . . . . . . . . .
. . . . . . . . . . . . . Purchasing Agent
John Witteveen . . . . . . . . . .
. . . . . Superintendent, School District
v
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 1989
School Board (5
Suzanne Hancock
* Dave Herrnsteen
Alice Knowles
Cheryl McNeil
Bill Oliver
Hospital Advisory Board (7
Ben Ardinger
William C. Hogan
Dr. Bob Johnson
Gretchen Saupe
Betty Springhill
* Wilton White
Lorne White
Mental Health Center
Advisory Board (9)
Josefina Barber
Frank Caprio, Dr.
Frances Cater
* Maureen Eberhardt
Vickie Hester
Mark Houglum
Karen Perkins
Linda Mullan
Wayne Stevens
Plannine and Zonine Commission _(7
Bruce Barrett
Wayne Coleman
Jon Hartt
Robin Heinrichs
* Tom Hendel
Jody Hodgins
Mary Lou Knudsen
Citizen Board of E q ualiz ation (5
Jim Carmichael
Vickie Case
Andi Cristaldi
Peggy Nekeferoff
* Kyle Taylor
Jim Ashford, Alternate
Parks and Recreation Committee (12
Forrest Blau
Maureen Butler
Ian Fulp
Mike Goodwin
Alice Knowles
Mary Lou Knudsen
Tom Merriman
David Odell
Elizabeth Odell
Tom Watson
Gloria Wiechmann
Vacant (1)
Buildinz Code Board of Appeals
(Architectural Review Board) (9
* Bill Beaty
Ron Chase
Cliff Ford
Robin Heinrichs
John Parker
Brian Parsons
James Wheeler
Susan Workman
Vacant (1)
Personnel Advisorv_ (5
Pat Borger
Mary McFarland
Mary Monroe
* Walter Sapp
Vacant (1)
r
vi 11
Data Processing S teering Committee
Jack McFarland
Bill Oliver
Perry Page
* Jerome Selby
Bryce Weeks
John Witteveen
Jocelyn Zwiefelhofer
Fire Protection Area #1
Advisory Board (5)
Scott Arndt
Sid Cozart
Charles Lorenson
* John Shank
Bill Swearingin
Bav View Road Service D istrict
Advisory Board (5)
Dawn Black
Randy Chase
* Ron Chase
Dave Kubiak
Reed Oswalt
' Monashka Bay Road Service District
Advisory Board (5)
Roxy Bringgold
Cathy Cordry
Ilva Fox
Dan Ogg
* Bill Swearingin
Emergency Services Council (4)
Joseph Blackett, Captain USCG
' Bob Brodie
Gordon Gould
* Jerome Selby
I I
* Indicates chair
�1 vii
Consolida Committee (9
Chris Blackburn
Sven Haakanson
Joyce Healey
Tom Hendel
Beverly Horn
Jack McFarland
* Gary Stevens
Wilton White
Helen Wise
Service Di strict No. 1
Advisory Board (7)
Scott Arndt
Jim Berg
Okey Chandler
* Jim Fisk
Tony Perez
Earl Smith, Jr.
Vacant (1)
Women's Bay Se rvice District
Advisory Board (7)
* Wayne Berry
John Burt
Ed Gondek
Carl Hayes
Charles Madsen
Richard Perkins
Robert Tarrant
Kodiak Island Transportation Stud
Steering Committee (KITS) (5
Alan Austerman
Bob Brodie
Al Cratty
* Gordon Gould
Jerome Selby
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1 Certificate of
� Achievement
for Excellence
� in Financial
� Reporting
' Presented to
Kodiak Island Borough,
Alaska
' For its Comprehensive Annual
Financial Report
' for the Fiscal Year Ended
June 30, 1988
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
' systems whose comprehensive annual financial
reports (CAFR's) achieve the highest
standards in government accounting
' and financial reporting.
ix
LUCTORA E
Borough Assemb
Advisory Board
(Appointed by
Ass )
RDspital
Administrator
1
taff pUaL
Mann" &
Citizens Advisory
Zoning CommissiO
Boards /Commission
(Appointed by
(Appointed by
Assem6l)
Assembly)
Personnel $oard
School staff
Architectural Review
Borough
ParLs and Recreation
Attorney
Board Of Equalization
Mental Health Center
Borough
Economic Development
Clem.
OCS Advisory Council
Building Code Board
of Appeals
XITS Committee
nayor
(Elected)
Service District
Advisory Boards
(Elected)
SchooC $oard
(F.Eected)
FSuperi;ntender
Monashfia. Bay
Road Service
District
of Schools
Womens Bay Road
Service /Fire
School staff
District
Service District No.!
-Road, Water, Sewer
Fire District No.I
- $ayview
General Community Facilities Date Mental
Buildin Develo ment Coordinator Engineering Finance Services Assessing
Adminis- p 3lea.tth
inspector trati on Department Department Department Department Department Department Center
September 21, 1989
' To the Honorable Borough Mayor
and Borough Assembly
Kodiak Island Borough
Kodiak, Alaska
' The comprehensive annual financial report (CAFR) of the Kodiak Island Borough
(Borough), Kodiak, Alaska for the fiscal year ended June 30, 1989 is submitted
herewith.
' I. Introduction
A. Management Responsibility for Financial Information
The report was prepared by the Borough Finance Department. Responsibility for the
accuracy, completeness and fairness of presentation, including all disclosures, rests
with the Borough. We believe the data, as presented, is accurate in all material
respects, that it is presented in a manner designed to fairly set forth the financial
position and results of operations of the Borough as measured by the financial activity
of its various funds, and that all disclosures necessary to enable the reader to gain
maximum understanding of the Borough's financial affairs have been included.
B. Explanation of CAFR Sections
This comprehensive annual financial report is presented in three main sections:
introductory, financial, and statistical. The introductory section includes background
on the Borough, the Fund accounting concept used by the Borough, and some financial
presentations. The financial section includes the independent auditors report,
combined statements, notes to financial statements, and more - detailed combining and
individual statements and schedules. The statistical section includes selected
financial and general information presented on a ten year comparative basis.
I
C. Definition of the Reporting Entity
The Kodiak Island Borough lies at the western border of the Gulf of Alaska, about 40
miles south of the Kenai Peninsula. About two - thirds of the Borough lies in the Kodiak
archipelago. One third of the Borough is separated from the Alaska Peninsula by the
Shelikof Strait which is only 20 miles wide in places. The Borough encompasses 7,130
square miles, or about 50% larger than the State of Connecticut.
� I
�1 xi
The Borough was incorporated September 30, 1963 as a Second Class Borough by Chapter
146 Sessions, Laws of Alaska 1961, as amended. The Borough is governed by a strong '
Mayor /Assembly form of government. The Borough Assembly is composed of seven members
who are elected at large.
The funds related to the Borough included in our CAFR are considered to be within the
oversight responsibility of the Borough Assembly.
The criteria used in determining the reporting entity are consistent with the
Governmental Accounting Standard Board (GASB) Statement 3, "Definition of a Reporting
Entity ". Based on these criteria, the various funds and account groups (being all the
funds and account groups of the Borough) shown in the Table of Contents are included
in this report.
II. Economic Condition and Outlook
A. Summary of local economy
On a short term basis the economic loss to the community because of the many salmon
fishing closures due to the oil spill apparently will be offset to a great extent by
oil spill clean up activity. No reasonable projection of the long term effects on the
economy can be accurately made at this time.
B. Data regarding major industries affecting the local economy
This has been an exasperating year for the Borough as it has been for many other
coastal communities in the State of Alaska. On March 24, 1989 the oil tanker Exxon
Valdez went aground at Bligh Reef in Price William Sound some 25 miles from the City
of Valdez, Alaska. The Tanker spilled some 10.1 million gallons of north slope crude
into the ocean. After several months, much of this oil spill has contaminated the
shoreline of the Borough raising havoc with the normal fishing and lifestyle.
This event has caused the tragic loss of a great number of our wildlife. Neither
bird, beast nor fish have been spared. The true loss will not be known for a number
of years.
C. Future economic outlook
The Assembly of the Kodiak Island Borough has again adopted a balanced budget for
fiscal year 1990. This has been our policy for several years. In recent years, we
have adopted and executed a budget that is balanced by drawing down on the fund
balance, in particular, that of the General Fund. In this manner, the Borough
continues to have the resources available to do the tasks assigned without an unusually
high fund balance at year end.
However, this process of draw down has continued unabated for the past five years (see
page xvi). The FY -90 budget contains another draw down of $271,660. There is a strong
possibility that this amount may not be available for draw and some adjustments will
be necessitated at the time of the mid -year review.
Starting in 1981 and continuing our efforts have been to collect those taxes and other
receivables due to the Borough promptly, thus negating the need to assess and collect
additional monies from those who pay promptly. At fiscal year end, uncollected taxes,
of all prior years, were only some $20,000 as contrasted to over a million dollars in
1981. ,
xii F
No plans have been formalized to ask the electorate to approve any future bond issue.
Some plans for possible bonding are in their infancy. The State has granted the
Borough in excess of $2 million for design and construction of a new hospital. Revenue
' bonds may be necessary to meet the additional funding requirements for this project.
Ideally, the necessary funds will come through another capital grant from the State
or a combination of grant and revenue bond proceeds. The economy of Kodiak remains
' very healthy.
III. Major Initiatives
A. Current year projects
The current year capital improvements projects are as delineated in Exhibit 24 of this
report with some relatively small amounts of new monies appropriated for fiscal year
1990.
' The Mayor and Assembly are currently working on a project that will define the goals
of the Kodiak Island Borough for the future.
' 1. Goals
A major goal of the Borough has been to provide adequate facilities for the
education and physical training of our youth.
2. Results
To this end the Kodiak Island Borough has constructed some forty million dollars
of new schools, playgrounds, swimming pool and a state of the art auditorium in
recent years.
B. Future projects
i
Two potential projects of considerable magnitude for the community are a new hospital
' and a cold storage fish processing plant.
The hospital has been discussed at various public meetings for several years. To date
' the Borough has received three state grants for this project for a total of $2,050,000.
The land has been purchased and preliminary architect & engineering work has been done.
The final plans and possible methods of funding are currently "on hold ".
I
' Since fishing is the predominant vocation for this community, the cold storage fish
processing facility is envisioned as a means of getting the catch to the major markets
with the least possible delay. No serious dialogue has taken place on this subject
' during the past year.
C. Department or activity service efforts and accomplishments
' The Borough provides a variety of services including education, health, garbage
collection and disposal, planning and zoning, public improvements, and general
administration. The Borough provides for education through the Kodiak Island Borough
' School District and has contracted with Lutheran Homes and Hospital Society to operate
the Borough Hospital.
xiii
The Borough is responsible for operating the sanitary landfill and provides water and
sewer services outside the Kodiak city limits. The Borough has oversight
responsibility for four road service districts and two fire protection districts.
IV. Financial Information
A. Discussion of controls
Management is extremely aware of the importance of good internal controls. Although
present controls are considered to be highly satisfactory and adequate, they continue
to be scrutinized periodically for enhancements.
1. Internal control structure
The accounting system of the Borough is dependent upon a strong system of
internal control. The Finance Director of the Borough also acts as the internal
auditor of the Borough. The Borough is concerned with all aspects of internal
control, reliable and accurate financial information and the safeguarding of
Borough assets. As much as possible, in a small office, duties are segregated
and no one person has complete control over one area.
2. Budgetary controls
The Borough uses the modified accrual basis for governmental funds and the
accrual basis for enterprise funds. Under the modified accrual basis of
accounting, revenues are recognized when measurable and available and
expenditures are recognized when incurred.
Budgetary control is maintained by an annual appropriation system supplemented
by a supplemental appropriation approximately half way through the fiscal year.
Budgetary control is also maintained through the use of an encumbrance system.
As purchase orders, contracts and other obligations are issued, corresponding
amounts of appropriations are reserved by the use of encumbrances so that
appropriations will not be overexpended.
All new monies are appropriated by a public hearing and the adoption of an
appropriation ordinance. Appropriation transfers are made between funds and /or
departments only after the adoption of a resolution by the Assembly.
Appropriation transfers between line items within a fund are effectuated by
staff.
B. General government functions
Only the General Fund of the Borough is considered in the following explanation of
general governmental functions.
1. Summary schedule of revenues
The amount of revenues from various sources and the increase or decrease over
the last year are shown in the following tabulation:
xiv '
1 Revenue Source and Other
Financing Sources
' Property taxes
Licenses and permits
' Intergovernmental revenue
Charges for services
Miscellaneous
Operating transfers
Increase
(Decrease)
Amount Percent Over 1988
(Thousands) of Total (Thousands)
$2,515.4
38.9
$ 24.4
39.2
0.6
(14.2)
3,449.9
53.2
1,158.3
0.1
9.2
51.1
411.0
6.4
(17.9)
56.4
0.9
(58.2
6 472.0
100. 0
J.L
2. Summary schedule of expenditures
Changes in levels of expenditures for major General Fund functions of the Borough
t over the preceding year are shown in the following tabulation:
Function
General government
Public safety
Public works
Health and sanitation
Education
Culture and recreation
Conservation and
development
Operating transfers
Increase
(Decrease)
Amount Percent Over 1988
(Thousands of Total (Thousands
$1,394.1
24.8%
$ (22.3)
88.3
1.6
(75.4)
173.9
3.1
82.5
517.1
9.2
51.1
29.0
0.5
(148.4)
161.4
2.9
161.4
281.3
5.0
(11.9)
2.996.4
52.9
7.8
5 641.5
10=
44.8
3. Discussion of significant changes in revenues and expenditures
Revenues for general government totaled $6,415,655 and operating transfers were
$56,410. This was an increase of $1,179,102 and a decrease of $58,225,
respectively over 1988. General property taxes produced 38.9% of general revenues
in 1989 compared with 47.6% in 1988.
The most significant change in revenue of the General Fund was in intergovernmental
revenue due to raw fish tax. The State of Alaska approved a supplemental
appropriation for fish tax payable to the Borough and disbursed a check for
$340,474 in August 1988. In August 1989, the full amount payable of $1,704,395 was
received and recorded as fiscal year 1989 revenue. Such an amount of raw fish tax
has never been recognized in a prior period and of course will not be realized in
the immediate future due to the oil spill and resulting fishing closures. These
events reflect over $1,000,000 in excess of prior year and projected subsequent
year revenues from this revenue source.
� I
I xv
4. Effect of revenue limitations
Capital improvement rants from the State of Alaska have played a major role in the �!
P P g P Y J
local economy in past years. The receipt of these grant funds peaked in fiscal
year 1983 and have shown a steady decline since.
5. Status of fund balances
The fund balance of the General Fund continues to undergo a critical periodic
review. Planned drawdowns have been budgeted and executed by tax reduction and
transfers to other funds to keep the fund balance adequate and reasonable. As a
result of these actions, the current year property tax millage rate remains
unchanged from the previous year.
The following table reflects fund balance of the General Fund at the close of the
fiscal years ended June 30:
1982
$5,478,183
1983
2,684,707
1984
2,742,239
1985
2,661,914
1986
2,532,100
1987
2,475,747
1988
2,248,866
1989
3,098,371
C. Proprietary operations
The Kodiak Island Hospital is contracted for management with the Lutheran Homes and
Hospital Society of America. The Borough is ultimately liable for any financial loss.
The utility funds, which include water, sewer and sanitary services are frequently
supported by contributions from the general or other funds.
The Borough does not have a water plant or sewer treatment facility. Water is
purchased from the City of Kodiak and sold to Borough users. These customers are in
a service district contiguous to the City.
1. Discussion of financial condition and results of operations
All utility funds have shown a significant annual operating loss for the past two
fiscal periods, as follows:
Water
Sewer
Landfill
Total
1988 $ 49,711
$177,372
$287,447
$514,530
1989 81,440
260,870
349,308
691,618
2. Relationship with general government operations
Because of the significant operating losses it has been necessary for operating
transfers to be made to subsidize the operations of these Enterprise Funds. A
rate increase is essential and must be addressed.
f:
xvi , ''"
D. Fiduciary operations
All fiduciary activity is handled with the same care and due diligence that we exercise
with any of our funds. All amounts due are withheld and /or collected, accounted for
and remitted promptly.
1. Level of pension plan funding
' Periodically the State of Alaska informs each participating entity of Public
Employees Retirement System (PERS) as to the employee and employer contribution
' rates. These amounts are budgeted, withheld and remitted accordingly.
2. Status of pension plan obligation
' Unfunded pension liabilities represent one of the most important financial problems
which will face most cities and counties of America today. Your Borough staff,
being acutely aware of this, has initiated legislation that has been adopted by the
Assembly to preclude this from being a problem that we would face in the future.
All unfunded past service costs of both the Borough and school district pension
funds have been fully liquidated.
Periodically the actuarial assumptions are revised by the State of Alaska PERS.
When such occurrence creates a deficiency, that amount is paid within the period
of notification or upon adoption of a subsequent budget.
3. Other fiduciary activities
The Borough collects, deposits, invests and accounts for all property tax receipts.
For the entities for which the Borough does the accounting, the revenue is
recognized in those particular funds. Receipts for the City of Kodiak are normally
remitted in full in October or November of each year.
All other fiduciary collection activity (i.e., Federal withholding, FICA,
Insurance, Pension funds, etc.) is accounted for and promptly remitted to the
agency involved.
E. Debt administration
' 1. Summary of outstanding debt
t Summary of debt principal outstanding at fiscal year end was:
General obligation, school 1984 $ 550,000
General obligation, school 1986 7,000,000
' General obligation refunding 1989 10,000,000
Environmental Protection Agency loan 322.910
$17.872.083
2. Review of current year's debt issuances
' On June 20, 1989 a ten million General Obligation school refunding issue was
marketed. This was the only bonding in the current fiscal period.
xvii
3. Information on advance refundings
The advance refunding of the GO 1980 school bond issue this period has accomplished
two major items. A like amount of debt is on the street at a lower interest rate
and the State reimbursement has been accelerated by two years. The net effect of
this issue is a considerable savings to both the Kodiak Island Borough and the
State of Alaska.
4. Discussion of debt limitation
The Statutes of the State of Alaska and the Code of the Kodiak Island Borough do
not establish a legal debt margin. Our debt capacity is determined by a vote of
the electorate and ultimately by the marketplace when debt is attempted to be
placed.
5. Debt ratings
The Borough has no revenue bonds authorized or issued. The Borough's general
obligation bonds are rated as follows:
Moody's Standard
Investors Service and Poors
General obligation refunding 1980 Aaa AAA
General obligation variable rate 1984 MIG -1
General obligation variable rate 1986 AA + /A -1+
General obligation refunding 1989 Aaa
6. Per capita debt levels
Per capita debt for the past ten years is reflected in Table 7 on page 80. You may
note that a per capita high of $1,772 was reached in 1984 during the peak of our
new schools construction. Much of our debt was variable rate short term "put"
bonds and has subsequently been extinguished.
F. Cash management
Cash management is a strong point of your current treasurer. Monies, naturally, cannot
be invested until received and deposited. As simple as this is, few in government
stress this point. It was only a few years ago that several years of unpaid taxes was
not the exception. The required forms were not prepared and submitted promptly for
drawdowns on State grants and other receivables were handled in a like manner. All
accounts of the Borough are now relatively current and proper monitoring procedures
are in place for timely receipt and deposit of any amounts due.
1. Investment policies
The Borough treasurer operates as the central treasurer for all Borough, School
District and Mental Health Center monies. A cash pool concept is maintained
whereas all funds are self - balancing unique entities and each fund has its own cash
account which on occasion may show a "book overdraft" while others have an excess
of cash. In this manner, the Borough is able to fully invest all idle funds
without creating a "bank overdraft."
I �
xviii
tE
All funds are deposited daily and intact and all idle funds are invested on the
' following day. We do recognize that there is frequently some exposure to uninsured
and uncollateralized deposits. We have made great strides in minimizing this
exposure through increased collateral and selection of banks and brokers with
' additional insurance. An account is now used (established February 1989) with the
local servicing bank to daily sweep the total balances to another account. That
account is collateralized by U.S. Treasuries at 102. Collateral is held by a third
party bank.
2. Safeguarding activities
' The Borough investment policy is far more restrictive than many governments. The
parameters in which we operate are as defined in Title 3, Chapter 4, of the Borough
Code. Basically, it states that we invest only in high grade securities that are
' fully collateralized and /or insured. Further, the collateral is to be held by a
third party bank.
The Kodiak Island Borough has large sums of idle cash on a daily basis. This is
' not to say that the Borough assesses and collects more tax than it needs or floats
bond issues when not necessary or things of that nature. It is to say that due to
the size and complexity of government, it is necessary to have adequate funding in
place to accomplish the assigned tasks.
3. Yield information
' During the past year the investments of the Borough have fluctuated between $13 and
$20 million. Interest rates for our fiscal year started off very modestly at 6.18
to 8.98 in early July 1988. At year -end of June 30, investments were earning from
' 6.758 to 10.358 for an average yield of 8.368. We closed out the year with
investment earnings for all funds in the amount of $1,749,896.
G. Risk management
Risk management is a term used to describe all management activities directed
toward the control of risks. The methods used to establish this control are:
■ - Identification of risks
- Measurement of risks
' - Elimination of or control of risks
- Self- assumption of certain risks through formal funding
Transferring risks through the purchase of insurance
A year by year comparison is somewhat meaningless, without study, as some years'
records include refunds of unearned premiums of years past while others do not,
etc. I believe it suffices to say that we are talking big dollars. The Assembly
' and staff are currently working on identification of risks as an ongoing item so
that appropriate management action may be taken to minimize cost where possible
while providing adequate coverage.
. 1. Types and level of risk assumed
Insurance premium costs are no longer a minor expenditure item for the Borough.
' In recent years, insurance premium costs have risen considerably and are now in
excess of a million dollars annually.
xix
2. Risk control policies
The policy of the Borough is to get bids on the selection of the insurance agent
every three years. We work closely with this agent to get the best coverage for
the dollar. ■
Periodically we also have an insurance analysis performed by a major risk
management independent consultant (one who sells only service, not insurance) to
review our coverage and highlight potential exposure and /or duplicate of
questionable coverage.
V. Other Information
A. Independent audit
The Borough Code requires an annual audit to be made of the books of account,
financial records, and transactions of all administrative departments of the
Borough. This requirement has been complied with and the auditor's opinion has
been included in this report.
1. Scope of the audit
The scope of our annual audit has been strictly financial and compliance for many
years. No performance auditing has been contracted for or accomplished.
2. Additional audit requirements
The State of Alaska requires single audits per statute and defines these
requirements in 2 AAC 45.010:
The Borough also complies with the "Federal Single Audit Act of 1984 ".
B. Awards
1. Government Finance Officers Association Certificate of Achievement for
Excellence in Financial Reporting
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the
Kodiak Island Borough for its comprehensive annual financial report for the fiscal
year ended June 30, 1988.
In order to be awarded a Certificate of Achievement, a government unit must publish
an easily readable and efficiently organized comprehensive annual financial report,
whose contents conform to program standards. Such reports must satisfy both
generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe
our current report continues to conform to the Certificate of Achievement Program
requirements, and we are submitting it to the Government Finance Officers
Association.
2. Government Finance Officers Association Distinguished Budget Presentation
Award
The Borough Mayor and Finance personnel have worked hard in recent years to
streamline our budget. Each annual document encompasses the good features of the
prior years while adding the best of current thinking.
' We plan to submit the current or next year's budget to GFOA for their critical
review in our efforts to obtain this award.
' 3. Other awards
Citizens of the Kodiak Island Borough are pleased to see that our Mayor, Jerome M.
Selby, has been recognized nationally. He appears in the current issue of Who's
' Who in the West
C. Acknowledgements
' I wish to express my appreciation to all the members of the finance department for
their efficient and dedicated service during the past year. I wish to thank your
office and the members of the Borough Assembly for their interest in and support of
' the planning and conducting of the financial operations of the Borough in a responsible
and progressive manner.
Respectfully submitted,
BRYCE S. WEEKS
DIRECTOR OF FINANCE
� I
� I
� I
� I
'I xxi
101 West Benson Boulevard
Anchorage, AK 99503
Price Waterhouse
INDEPENDENT AUDITOR'S REPORT
September 15, 1989
To the Mayor and Members
of the Assembly
Kodiak Island Borough
Telephone 907 563 4444
04
We have audited the accompanying general purpose financial statements of
Kodiak Island Borough as of June 30, 1989, and for the year then ended
as listed in the table of contents. These general purpose financial
statements are the responsibility of the Borough's Management. Our
responsibility is to express an opinion on these general purpose
financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the general purpose
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the general purpose financial statements. An audit also
includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit and the report of
other auditors provides a reasonable basis for our opinion.
We did not audit the financial statements of Kodiak Island Hospital and
Care Center, which statements reflects 33% of the total assets and 85%
of the total operating revenue of the combined Enterprise Funds. Those
statements were audited by other auditors whose report thereon has been
' furnished to us, and our opinion expressed herein, insofar as it relates
to the amounts included for Kodiak Island Hospital and Care Center, is
based solely on the report of the other auditors.
In our opinion, based upon our audit and the report of other auditors,
the general purpose financial statements referred to above present
fairly, in all material respects, the financial position of the Kodiak
Island Borough as of June 30, 1989, and the results of its operations and
the changes in financial position of its proprietary fund types for the
year then ended in conformity with generally accepted accounting
principles.
Our audit was made for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The combining and
individual fund and account group financial statements and schedules
listed in the table of contents are presented for purposes of additional
analysis and are not a required part of the combined financial statements
of the Kodiak Island Borough. The information has been subjected to the
auditing procedures applied in the audit of the general purpose financial
statements, and in our opinion, is fairly stated in all material respects
in relation to the general purpose financial statements taken as a whole.
100 Yea nit at s
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1989
ASSETS
Current assets:
Equity in central treasury
Temporary investments
Other cash and cash equivalents
Investment in deferred
compensation plan
Receivables:
State of Alaska
Property taxes, net of
allowance for uncollec-
tibles of $11,773 in
1989 and $9,133 in 1988
Land sales contracts,
due within one year
Other, net of allowance
for doubtful receivables
of $516,643 in 1989 and
$312,976 in 1988
Due from other funds
Inventories
Prepaids
Restricted assets:
Equity in central treasury
Temporary investments
Interest receivable
Receivable from State of Alaska
Land sales contracts receivable,
due after one year
Borough designated investment
Long -term receivable from
Lutheran Hospitals and
Homes Society of America
Amount available to service
long -term debt in Debt
Service Funds
Amount to be provided to
1 d b
Governmental Fund Types
Special Debt Capital
General Revenue Service Projects
$ - $ 274,677 $ 267,757 $ 270,326
3,512,286 1,776,382 4,530,522 2,929,204
1,235 33,096 648,922 4,641
1,749,479 1,261,055 448,618 211,606
9,363 - - -
- 343,529 -
23,510 569,891 50,217 20,930
- 2,418,178 - 234,187
271,776 - -
1,471,044 - -
sery ice ong- term e t - - - -
Fixed assets in service - - - -
Accumulated depreciation - - - -
Construction work in progress - - - -
Other 239 -
$5.2 S8.4� S5.9� $3.6=
See accompanying notes to the general purpose financial statements
2
EXHIBIT 1
Proprietary
Fiduciary
Totals
16,580 - -
Fund Type
Fund Type
Account Groups (Memorandum Only)
- 462,659
Agency
General General Long -
- 100,699
Enterprise
Fund Type
Fixed Assets Term Debt 1989
1988
$ 8,693
$ -
$ - $ - $ 821,453 $
1,799,041
250,000
-
- - 12,998,394
18,069,668
2,524,150
94,424
- - 3,306,468
1,808,858
-
519,926
- - 519,926
383,248
3,670,758 1,932,383
9,363 16,477
343,529 257,200
1,787,352 720 -
- 2,452,620
2,438,688
16,580 - -
- 2,668,945
5,091,772
190,883 - -
- 462,659
403,867
100,699 - -
- 100,699
55,773
- _ _
_ -
180,127
476,382 - -
- 476,382
-
9,316 - -
- 9,316
-
- _ _
_ -
367,813
- - -
- 1,471,044
1,978,712
638,658 - -
- 638,658
810,397
1,846,000
-
- - 5,945,729 5,945,729
7,245,067
-
- - 11,513,662 11,513,662
12,642,105
23,994,884
- 70,203,161 - 94,198,045
85,548,006
(3,685,933)
- - - (3,685,933)
(3,061,592)
109,607
- 6,911,287 - 7,020,894
9,851,054
239
526,421,271
LjL5 070 $77.114,448 $17,459,391 $144,942.850
$149,664,664
Continued
3
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1989
LIABILITIES AND
FUND EQUITIES
Liabilities:
Bank overdraft
Accounts payable
Retainage payable
Salaries payable
Payroll taxes and employee
benefits
Other accrued liabilities
Customer deposits
Deferred and unrealized revenues
Deferred compensation
Due to other funds
Due to student organizations
Payable from restricted assets:
Contracts payable
Retainage payable
Due to other funds
Unearned grant receipts
Accrued annual leave
General obligation bonds payable
Environmental Protection
Agency loan
Total liabilities
Fund equities:
Contribution in aid of
construction
Investment in general
fixed assets
Retained earnings
Fund balance:
Reserved:
Encumbrances
Fuel inventory
Unreserved:
Governmental Fund Types
Special Debt Capital
General Revenue Service Proiects
43,111 798,098 - 241,987
- - - 87,932
- 669,798 - -
23,640 788,857 - -
3,316 307 -
- 300 - -
1,817,904 774,779
2,127,435 361,123 - 163,807
550,000
2,197,502 4,436,080 307 1,818,505
15,981 100,841 - 537,229
- 82,952 - -
Designated for subsequent year - - - -
expenditures 3,082,390 444,114 5,945,729 642,851
Undesignated - 3,355,880 - 672,309
Total fund equities 3,098,371 3,983,787 5,945,729 1,852,389
55,295,873 58.419.867 S5,946,036 53,670,894
See accompanying notes to the general purpose financial statements
1
1
EXHIBIT 1 (Continued)
Proprietary
Fiduciary
Totals
Fund Type
Fund Type
Account Groups
(Memorandum Only)
Agency
General General Long -
Enterprise
Fun Type
Fixed Assets Term Debt
1989
1988
128,847
2,784
- -
1,214,827
634,379
-
-
- -
87,932
439,323
-
-
- -
669,798
1,089,251
347,142
-
- -
1,159,639
685,571
20,975
-
- -
24,598
14,686
11,655
-
- -
11,955
7,601
-
-
- -
2,592,683
3,659,851
519,926
- -
519,926
383,248
10,525
-
- -
2,662,890
5,091,772
-
92,360
- -
92,360
107,011
-
- -
-
19,995
'
- -
-
40,651
6,055
-
- -
6,055
-
-
-
- 136,481
136,481
133,423
'
-
- 17,000,000
17,550,000
22,160,000
-
-
- 322.910
322.910
343.749
525.199
615.070
- 17.459.391
27.052.054
34.810,511
20,368,863
-
- -
20,368,863
20,755,422
-
77,114,448 -
77,114,448
71,790,129
5,527,209
-
- -
5,527,209
5,111,083
-
- -
654,051
5,341,846
-
- -
82,952
73,680
"
- -
10,115,084
11,528,557
'
- -
4.028.189
253.436
25.896,072
-
_77.114.448 -
117.890.796
114.854.153
S26.421,271
$ 615.070
577.114.448 X17,459,391
X144,942.850
5149,664.664
19
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30, 1989
Revenues:
Property taxes
Intergovernmental:
State sources
Federal sources
Land sale proceeds
Exxon reimbursement
Insurance proceeds
Asbestos settlement
Licenses, permits, fees and other local revenues
Investments and property
Total revenues
Expenditures:
Current:
Borough Assembly
Mayor's department
Clerk's department
Finance department
Legal department
Consolidation committee
Assessment department
Community development department
Engineering department
Health and sanitation
Data services
Resource management
General administration
Building inspector's department
Emergency preparedness
Facilities coordinator department
Community and regional affairs liaison
Education support
Economic development
Switchboard /Hord processing
Culture and recreation
Oil spill cleanup
Capital outlay:
Capital improvements
Schools
Service district maintenance
General
Debt service
Total expenditures
Excess (deficiency) of revenues over expenditures
Other financing sources (uses):
Demand bond principal payments
Operating transfers in
Operating transfers out
Net other financing sources (uses)
Excess (deficiency) of revenues and other financing
General
S 2,515,436
3,444,912
5,036
95,748
354,523
6,415,655
65,716
127,046
193,671
208,486
81,290
13,308
174,257
281,250
84,179
517,112
145,512
58,663
299,131
28,357
52,728
4,551
28,997
30,817
69,592
161,460
2,626,123
3,789,532
56,410
(2.996,437
(2,940,027
sources over expenditures and other financing uses 849,505
Fund balance at beginning of year 2,248,866
Adjustment to reserve for fuel inventory
Fund balances at end of year S 3,0371
See accompanying notes to the general purpose financial statements
Special
Revenue
S 210,272
18,798,869
1,005,261
377,586
1,013,079
672,475
514.792
22,592,334
28,203
1,601,954
733,752
15,698,012
1,083,905
44,633
119,596
27,713
19,337,768
3,254,566
2,991,640
(6,741,075
(3,749.435
(494,869)
4,469,386
9,270
S39�87
I �
EXHIBIT 2
7
Totals
(Memorandkm Only)
Debt
capital
Service
Proiects
1989
1988
S
S -
S 2,725,708
S 2,672,156
-
957,200
23,200,981
22,004,517
-
-
1,010,297
790,111
-
377,586
588,547
-
-
1,013,079
-
366,904
366,904
1,414,685
-
647,480
647,480
634,061
-
11,083
779,306
676,699
305.707
294.512
1.469,534
1.943,025
305.707
2.277.179
31.590,875
30.723,801
-
-
65,716
38,112
127,046
140,529
193,671
152,543
208,486
228,706
81,290
79,491
13,308
1,563
174,257
159,481
-
-
309,453
248,287
-
-
84,179
64,787
2,119,066
1,881,164
145,512
178,519
-
58,663
52,430
•
1,032,883
1,061,068
-
-
82,806
-
28,357
80,903
-
52,728
26,656
-
4,551
5,166
15,727,009
15,498,297
30,817
28,668
-
69,592
61,542
161,460
146,990
-
1,083,905
-
-
44,633
4,825,007
4,825,007
7,595,506
-
119,596
131,240
-
2,408,673
2,436,386
1,791,854
6,584.817
6.584,817
5.481,302
6.584.817
7.233,680
35.782,388
35,217.610
(6,279,110
(4.956,501
(4,191,513
(4,493.809
-
2,200,000
2,200,000
2,050,000
5,004,975
2,705,027
10,758,052
8,311,243
(5,540
(1.350.000
(11,093,052
(8,496,243
4.999.435
3.555.027
1,865.000
1.865.000
(1,279,675)
(1,401,474)
(2,326,513)
(2,628,809)
7,225,404
3,253,863
17,197,519
19,824,813
9.270
1.515
S 5,945,729
S 1,852,389
S 14,880,276
$17,197,519
7
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL -
GENERAL FUND, SPECIAL REVENUE FUNDS AND DEBT SERVICE FUNDS
YEAR ENDED JUNE 30, 1989
Revenues:
Property taxes
Intergovernmental:
State sources
Federal sources
Land sale proceeds
Exxon reimbursement
Licenses, permits, fees and
other local revenues
Investments and property
Total revenues
Expenditures:
Current:
Borougo Assembly
Mayor's department
Clerk's department
Finance department
Legal department
Consolidation committee
Assessment department
Community development department
Engineering department
Health and sanitation
Data services
Resource management
General administration
Emergency preparedness
Facilities Coordinator department
Community and regional
affairs liaison
Education support
Economic development
Switchboard \Word processing
Culture and recreation
Oil spill cleanup
Capital outlay:
Capital improvements
Schools
Service district maintenance
General
Debt service:
Principal
Interest
Fiscal agent fees
Other
Total expenditures
Excess (deficie -K y) of revenues
over expenditures
General Fund
Special Revenue Funds
Variance
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
S 2,584,710
S 2,515,436
S (69,274)
S 214,225
S 210,272
2,707,240
3,444,912
737,672
18,883,120
18,798,869
720
5,036
4,316
1,129,170
1,005,261
-
-
-
308,500
377,586
-
-
-
500,000
1,013,079
67,550
95,748
28,198
646,085
672,475
161,500
354,523
193,023
428,140
514.792
5. 521,720
6,415,655
893,935
22. 109,240
22. 592,334
60,000
65,716
(5,716)
129,970
127,046
2,924
202,330
193,671
8,659
245,560
208,486
37,074
85,720
81,290
4,430
14,000
13,308
692
178,610
174,257
4,353
312,470
281,250
31,220
37,680
28,203
159,360
84,179
75,181
525,000
517,112
7,888
1,715,492
1,601,954
170,220
145,512
24,708
61,410
58,663
2,747
396,850
299,131
97,719
891,230
733,752
34,000
28,357
5,643
52,760
52,728
32
3,780
4,551
(771)
22,200
28,997
(6,797)
16,419,346
15,698,012
30,000
30,817
(817)
65,860
69,592
(3,732)
161,500
161,460
40
-
-
1,000,000
1,083,905
-
-
82,590
44,633
-
-
-
131,130
119,596
-
-
-
37,600
27,713
2,911.600
2,626,123
285,477
19,337,768
20,315,068
2,610.120
3,789,532
1,179,412
1,794,172
3,254,566
See accompanying notes to the general purpose financial statements
8
1
EXHIBIT 3
Variance
Favorable
(Unfavorable)
S (3,953)
(84,251)
(123,909)
69,086
513,079
26,390
86.652
483.094
9,477
113,538
157,478
721,334
(83,905)
37,957
11,534
9,887
977,300
Debt Service Funds
Variance
Favorable
Budget Actual (Unfavorable)
S S S
Totals
(Memorandum Only)
Variance
Favorable
Budget
Actual
(Unfavorable)
S 2,798,935
S 2,725,708
S (73,227)
21,590,360
22,243,781
653,421
1,129,890
1,010,297
(119,593)
308,500
377,586
69,086
500,000
1,013,079
513,079
713,635
768,223
54,588
796.820
1.175.022
378,202
27.838.140
29.313.696
1.475.556
207.180 305.707 98,527
207.180 305,707 98.527
5,385,840
1,542,190
158,470
43.500
5,135,834
1,396,688
66,030
(13.735
6.584,817
250,006
145,502
92,440
57.235
7.130.000
545.183
60,000
129,970
202,330
245,560
85,720
14,000
178,610
350,150
159,360
2,240,492
170,220
61,410
1,288,080
34,000
52,760
3,780
16,441,546
30,000
65,860
161,500
1,000,000
82,590
131,130
37,600
5,385,840
1,542,190
158,470
43.500
30.356.668
65,716
127,046
193,671
208,486
81,290
13,308
174,257
309,453
84,179
2,119,066
145,512
58,663
1,032,883
28,357
52,728
4,551
15,727,009
30,817
69,592
161,460
1,083,905
44,633
119,596
27,713
5,135,834
1,396,688
66,030
(13.735
28.548,708
1.460.394 (6.922.820 (6.279.110 643.710 (2.518.528
764.988
(5,716)
2,924
8,659
37,074
4,430
692
4,353
40,697
75,181
121,426
24,708
2,747
255,197
5,643
32
(771)
714,537
(817)
(3,732)
40
(83,905)
37,957
11,534
9,887
250,006
145,502
92,440
57.235
1.807,960
3.283.516
Continued
9
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES. EXPENDITURES.
AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL FUND, SPECIAL REVENUE FUNDS AND DEBT SERVICE FUNDS
YEAR ENDED JUNE 30, 1989
General Fund Special Revenue Funds
Variance
Favorable
Budget Actual (Unfavorable) Budget Actual
Other financing sources (uses):
Operating transfers in
56,410
56,410
3,028,600
2,991,640
Operating transfers out
(2.987.840
(2.996,437
(8,597
(6,513.817
(6.741.075
Net other financing sources (uses)
(2.931,430
(2,940.027
(8.597
(3.485.217
(3,749,435
Excess (deficiency) of revenues and
other financing sources over expen-
ditures and other financing uses
E$ (3�
849,505
$1,170,815
$(1.691,045
(494,869)
Fund balance at beginning of year
2,248,866
4,469,386
Adjustment to reserve for
fuel inventory
-
9,270
Fund balances at end of year
$ 3,098,371
$ 3,983,787
See accompanying notes to the general purpose financial statements
10
EXHIBIT 3 (Continued)
11
Debt Service
Funds
Totals
(Memorandum Only)
Variance
Variance
_
Variance
Favorable
Favorable
Favorable
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
(36,960)
4,826,220
4,996,378
170,158
7,911,230
8,044,428
133,198
(227,258
(9,501,657
(9,737,512
(235,855
(264,218
4,826,220
4,996,378
170,158
(1,590,427
(1,693,084
(102,657
$1,1 96,176
S(2,0��
(1,282,732)
S 813,868
S(4,1108,955
(928,096)
S 3,180,859
7,091,981
13,810,233
9,270
S 5,809,249
$12,891,407
11
EXHIBIT 4
Operating expenses:
Personal services
KODIAK ISLAND BOROUGH
149,729
Waste collection
609,171
PROPRIETARY FUND TYPE - ENTERPRISE FUND
Purchased water and sewer treatment
281,873
COMBINED STATEMENT OF REVENUES, EXPENSES AND
Contracted services
-
487,465
CHANGES IN RETAINED EARNINGS
42,925
41,463
Depreciation
717,679
YEAR ENDED JUNE 30, 1989
Installation costs
1,912
27,112
WITH COMPARATIVE TOTALS FOR 1988
3,109,657
2,704,084
Plant operations and household
592,110
1989
1988
1,899,789
Revenues:
Other
571.917
116.435
Water sales
$ 182,051
$ 172,875
Operating income (loss)
Sewer service charges
230,147
216,125
Increase in retained earnings
Refuse collection
503,569
-
Retained earnings at beginning of year
Sanitary landfill user
fees 162,207
449,488
Retained earnings at end of year
Patient revenues
6,105,723
6,087,580
Installation charges
2,348
33,014
See accompanying notes to the
Other
207.077
103.333
Total revenues
7.393.122
7.062.415
Operating expenses:
Personal services
300,672
149,729
Waste collection
609,171
-
Purchased water and sewer treatment
281,873
216,890
Contracted services
-
487,465
Repairs and maintenance
42,925
41,463
Depreciation
717,679
626,269
Installation costs
1,912
27,112
Professional care of patients
3,109,657
2,704,084
Plant operations and household
592,110
906,166
General administrative
1,899,789
1,580,947
Other
571.917
116.435
Total operating expenses
8.127.705
6.856.560
Operating income (loss)
(734.583
205.855
Other income:
Interest income
280,362
22,933
Other, primarily State of Alaska
revenue sharing
133.434
343.101
i
413.796
366.034
Earnings before operating transfers
(320.787
571.889
Operating transfers in
335,000
290,000
Operating transfers out
-
(105.000
Net operating transfers
335.000
185.000
Net earnings
14,213
756,889
Amortization of contribution in aid of
construction 401.913
358.502
'
Increase in retained earnings
416,126
1,115,391
F
Retained earnings at beginning of year
5.111.083
3.995.692
Retained earnings at end of year
$5.5�
$5.111.083
See accompanying notes to the
general purpose financial
statements
12
EXHIBIT 5
KODIAK ISLAND BOROUGH
PROPRIETARY FUND TYPE - ENTERPRISE FUND
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Increase in working capital S2,1189 696 S 5�
See accompanying notes to the general purpose financial statements
13
1989
1988
Sources of working capital:
Operations:
Net earnings
$ 20,171
$ 756,889
Loss on sale of equipment
15,966
-
Add: Depreciation which does not
use working capital
717.679
626.269
Working capital provided by operations
753,816
1,383,158
State of Alaska grants
10,232
4,225,017
Contribution from the Kodiak Island Borough
General Fund for purchase of equipment
13,762
43,315
Net decrease in restricted assets
2.079.981
541.117
Total sources of working capital
2.857.791
6.192.607
Uses of working capital:
Acquisition of fixed assets
613,504
4,382,255
Increase in long -term receivable
-
728,000
Funding of Borough designated investments
-
50,263
Net decrease in current liabilities payable
from restricted assets
54.591
453.639
Total uses of working capital
668.095
5.614.157
Increase in working capital
S2.1�6.9 6
S 57 8.450
Changes in components of working capital:
Increase (decrease) in current assets:
Equity in central treasury
$ (30,518)
$(115,573)
Other cash and cash equivalents
2,342,642
431,508
Receivables
(43,264)
245,566
Inventories
17,080
27,559
Prepaid expenses
100.699
-
2.386.639
589.060
(Increase) decrease in current liabilities:
Bank overdraft
-
9,710
Due to other funds
-
2,601
Accounts payable
(76,847)
2,994
Customer deposits
-
3,205
Accrued liabilities
(120.096
(29.120
(196.943
(10.610
Increase in working capital S2,1189 696 S 5�
See accompanying notes to the general purpose financial statements
13
KODIAK ISLAND BOROUGH I
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1989
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Scope and Presentation of Financial Statements
The Kodiak Island Borough (Borough) was organized to perform the municipal duties
allowed by Alaska Statutes and as directed by its residents. The accompanying
financial statements include all funds, account groups, agencies and organizations over
which the Borough exercises oversight responsibility. Oversight responsibility is
derived from the Borough's power and includes, but is not limited to (a) financial
interdependency, (b) selection of governing authority, (c) ability to significantly
influence operations and (d) accountability for fiscal matters. The Borough reviewed
its relationship with other organizations and determined that it exercised oversight
responsibility over the following two organizations.
Kodiak Island Borough School District: The Borough has delegated the operating
responsibility for public education to the Kodiak Island Borough School District
(School District). In accordance with statutes, the Borough retains ownership of the
educationally related fixed assets and incurs the debt, if necessary, to finance the
acquisition and construction of the school facilities. The Borough Assembly approves
the total annual budget of the School District and may, during the year, increase or
decrease the total appropriation. The Borough levies and collects taxes for the School
District. The various funds and the general fixed asset account group of the School
District have been combined with similar fund types and account groups of the Borough.
Kodiak Island Borough Hospital: The Borough owns the Kodiak Island Borough Hospital
(Hospital) and related furnishings. The Borough has contracted the Hospital's
operating activities to the Lutheran Health Systems Management Company. By terms of
that agreement, operating losses sustained (as contractually defined), if any, are
the ultimate responsibility of the Borough. Annual contributions, as well as direct
payment for equipment and plant repairs, are made by the Borough to subsidize the
Hospital's financial operations. These contributions and direct payments are recorded
as expenditures of the Borough's General Fund or Capital Projects Funds. The
comprehensive financial position and operating results of the Hospital are included
in these combined financial statements as an enterprise fund.
Fiscal Year Ends
The Borough has a June 30 year end. The School District, as required by State Statute,
has a June 30 year end. The Hospital has a December 31 year end and the accompanying
financial statements include the financial position for the Hospital as of December
31, 1988, and the results of operations for the year then ended.
Presentation
The combined financial statements provide a summary overview of the financial position
of all funds and account groups and of the operating results of all funds. These
combined statements have been prepared from the detailed statements included in the
14 1
combining and individual fund and account group statements and schedules included in
this report.
Total columns on the combined statements are captioned "memorandum only" to indicate
that they are presented only to facilitate financial analysis. Data in these columns
do not present financial position, results of operations, or changes in financial
position in conformity with generally accepted accounting principles. Neither are such
data comparable to a consolidation. Interfund eliminations have not been made in the
aggregation of these data.
The accounting policies of the Borough conform to generally accepted accounting
principles.
FUND ACCOUNTING
The accounts of the Borough are organized on the basis of funds and account groups,
each of which is considered a separate accounting entity. Operations of each fund are
accounted for with a separate set of self- balancing accounts that comprise its assets,
liabilities, fund equity, revenues and expenditures or expenses, as appropriate.
Borough resources are allocated to and accounted for in individual funds based upon
the purposes for which they are to be spent and the means by which spending activities
are controlled. The various funds are grouped in the combined financial statements
in this report into six generic fund types and three broad fund categories as follows:
GOVERNMENTAL FUND TYPES
General Fund - The General Fund is the general operating fund of the Borough. It is
used to account for all financial resources except those required to be accounted for
in another fund.
Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of
specific revenue sources (other than major capital projects) that are legally
restricted to expenditures for specific purposes.
Debt Service Funds - The Debt Service Funds are used to account for the accumulation
of resources for, and the payment of, general long -term debt principal, interest and
related costs.
Capital Projects Funds - Capital Projects Funds are used to account for financial
resources to be used for acquisition or construction of major capital facilities and
equipment.
PROPRIETARY FUND TYPE
Enterprise Funds - The Enterprise Funds are used to account for operations (a) that
are financed and operated in a manner similar to private business enterprises where
the intent of the governing body is that the costs (expenses, including depreciation)
of providing goods or services to the general public on a continuing basis be financed
or recovered primarily through user charges or (b) where the governing body has decided
that periodic determination of revenues earned, expenses incurred, and /or net income
is appropriate for capital maintenance, public policy, management control,
accountability or other purposes.
15
FIDUCIARY FUND TYPE
Agency Funds - To account for assets held by the Borough as an agent for individuals
and other entities. These funds are custodial in nature (assets equal liabilities)
and do not involve measurement of results of operations.
ACCOUNT GROUPS
The accounting and reporting treatment applied to the fixed assets and long -term
liabilities associated with a fund are determined by its measurement focus.
Governmental Fund Types are accounted for on a spending or financial flow measurement
focus. This means that only current assets and current liabilities are generally
included on their balance sheets. Their reported fund balances (net current assets)
are considered a measure of available spendable resources. Governmental Fund Type
operating statements present increases (revenues and other financial sources) and
decreases (expenditures and other financial uses) in net current assets. Accordingly,
they are said to present a summary of sources and uses of available spendable resources
during a period.
The two account groups are not funds. They are concerned only with the measurement
of financial position. They are not involved with measurement of results of
operations.
General Fixed Assets - Fixed assets used in Governmental Fund Type operations (general
fixed assets) are recorded as expenditures of the various Borough funds at the time
of purchase and are subsequently capitalized in the General Fixed Assets Account Group.
Such assets include land, buildings, equipment, furniture and other related assets.
Public domain (infrastructure) general fixed assets consisting of certain improvements
other than buildings, including roads, bridges, curbs and gutters, streets and
sidewalks, drainage systems and lighting systems, are not capitalized. No depreciation
has been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated historical cost if actual
historical cost is not available. Donated fixed assets are valued at their estimated
fair value on the date donated.
General Long -Term Debt - Long -term liabilities expected to be financed from
Governmental Fund Types are accounted for in the General Long -Term Debt Account Group,
not in the Governmental Fund Types.
Noncurrent portions of long -term receivables due to Governmental Fund Types are
reported on their balance sheets, in spite of their spending measurement focus.
Special reporting treatments are used to indicate, however, that they should not be
considered available spendable resources since they do not represent net current
assets. Recognition of Governmental Fund Type revenues represented by noncurrent
receivables is deferred until they become current receivables. Noncurrent installments
of long -term loans receivable are offset by fund balance reserve accounts.
Because of their spending measurement focus, expenditure recognition for Governmental ■
Fund Types is limited to exclude amounts represented by non- current liabilities. ■
Since they do not affect net current assets, such long- term amounts are not recognized
as Governmental Fund Type expenditures or fund liabilities. They are instead reported
as liabilities in the General Long -Term Debt Account Group.
1
16 1
PROPRIETARY FUND TYPE
The Proprietary Fund Type is accounted for on a cost of services or capital maintenance
measurement focus. This means that all assets and all liabilities (whether current
1 or noncurrent) associated with its activity are included on its balance sheet. Its
reported fund equity (net total assets) is segregated into contributed capital and
retained earnings components. The Proprietary Fund Type operating statement presents
increases (revenues) and decreases (expenses) in net total assets.
Depreciation of all exhaustible fixed assets used by the Enterprise Funds is charged
as an expense against their operations on a straight -line basis over the following
estimated useful lives:
Utility plant 50 years
Hospital - building and fixed equipment 28 -33 years
Major movable equipment 5 -10 years
Contributions in aid of construction for the Water, Sewer and Sanitary Services
Enterprise Funds are amortized over the estimated useful lives of the assets acquired
using the straight -line method.
B. Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses are recognized
in the accounts and reported in the combined financial statements. Basis of accounting
relates to the timing of the measurements made, regardless of the measurement focus
applied.
Governmental Fund Types are accounted for using the modified accrual basis of
accounting.
Expenditures are generally recognized under the modified accrual basis of accounting
when the related fund liability is incurred. An exception to this general rule is
principal and interest on general long -term debt which is recognized when due.
Prepayment of insurance and similar services extending over more than one year are
allocated to the years benefitted.
Pursuant to this basis of accounting, material revenues which are both measurable and
available are accrued and other revenues are recorded on the cash basis. Summarized
below are the major sources of revenue and the applicable recognition policies:
Property Taxes
Property taxes are based on the assessed value of taxable property as of January 1.
Pursuant to Alaska Statute 29.53.170, the Borough establishes the mill rate on or
before June 15. Tax bills may be paid in two installments on August 15 and November
15; otherwise the amount is due and payable by October 15. Borough property tax
revenues are recognized in the fiscal year for which they are levied and in which they
become measurable and available.
Intergovernmental Revenue
State of Alaska shared revenues, State of Alaska municipal assistance and various State
education - related entitlement programs and State levied taxes (the proceeds of which
are distributed to local governments) are recorded in the fiscal year to which they
17
J
relate, including accrual at year end of final payments due within approximately two
to three months after year end.
State of Alaska and Federal government cost reimbursable grants and contracts
(including grants for construction) are recorded to the extent of allowable
expenditures in the period in which the expenditures were incurred.
Revenue from Investments and Property [
Amounts earned on investment of available cash balances and the rental of building
facilities are recorded in the period to which they relate, including accrual at year
end of balance due.
Land Sales Proceeds and Other Local Revenues
Amounts received pursuant to land sale contracts (long -term in nature) are recorded
on the cash basis. Other local revenues are recorded on a basis consistent with their
nature in relation to measurement and availability standards.
The Proprietary Fund Type is accounted for using the accrual basis of accounting.
Its revenues are recognized when they are earned and its expenses are recognized when
they are incurred.
The Fiduciary Fund Type (Agency Fund) is accounted for using the modified accrual
basis of accounting similar to that utilized by Governmental Fund Types.
C. Budgets and Budgetary Accounting
The Borough
The Borough follows these procedures in establishing the budgetary data reflected in
the combined financial statements:
a. The Mayor must submit to the Borough Assembly by April 30 a proposed
operating budget for the fiscal year commencing the following July 1. The
operating budget includes proposed expenditures and the means of financing
them.
b. Public hearings are conducted by the Borough Assembly to obtain taxpayer
comments.
C. By June 10, by Borough Assembly action, the budget is legally enacted through
passage of an ordinance. If the Borough Assembly fails to pass an ordinance,
the budget submitted by the Mayor becomes the adopted budget.
d. Amendments to the budget can occur anytime during the fiscal year through the
Borough Assembly or administrative action. Generally, the following actions
are required at the level of the particular change:
(1) All new appropriations are authorized by an appropriation ordinance
that amends the annual budget ordinance.
(2) A resolution of the Borough Assembly is required to move (appropriate)
amounts between departments and projects.
I
18 1
(3) The administration is authorized and directed by the Borough Assembly
to effect the necessary line item changes within the limits established
by Items (1) and (2) above by project or department to properly
monitor, account, and report receipts and expenditures.
e. Expenditures may not legally exceed appropriations at the following levels:
General Fund - department level; Capital Projects Funds - project level; all
other funds - fund level.
f. All funds, except Debt Service - Other, are budgeted on an annual basis
encompassing a fiscal year, except that budgets of Capital Projects Funds
generally encompass project completion which is generally
P the period of P ro
all required to be
Debt Service -Other is not le q
neater than one legally g ear. Y
budgeted.
i� � g. Appropriations lapse at year end to the extent that they have not been
expended for all funds except Capital Projects Funds, which lapse at project
completion.
h. Budgets adopted by the Borough Assembly are in accordance with generally
accepted accounting principles.
The School District
Annual budgets are adopted by the School Board for all revenues, expenditures and
interfund transfers. Budgets are prepared and presented on the modified accrual basis
of accounting. Pursuant to Alaska Statutes, the adopted budget is submitted to the
Borough Assembly for review and approval. The Borough Assembly is required to approve
the School District budget in total only and, by ordinance, appropriate the necessary
resources no later than April 30 of the current fiscal year.
The School Board retains line item authority once the annual local appropriation is
set by the Borough Assembly. In the year ended June 30, 1989, there were three formal
budget revisions to adjust the revenues and expenditures to available resources and
program needs.
The Hospital -
Hospital operations are not legally required to be budgeted.
D. Assets, Liabilities and Fund Equity
INTERFUND TRANSACTIONS
Transactions that would be treated as revenues, expenditures or expense if they
involved organizations external to the borough are similarly treated if they occur
between the fund types. Reimbursements from one fund to another are treated as
expenditures or expenses of the reimbursing fund and a reduction of the expenditures
or expenses of the reimbursed fund. Transfers from funds receiving revenues to funds
through which the resources are to be expended, and operating loss subsidies are
classified as operating transfers. Nonrecurring or nonroutine transfers of equity
between funds are recorded as equity transfers.
19
ENCUMBRANCES I
Encumbrance accounting, under which purchase orders, contracts and other commitments
for the expenditure of monies are recorded in order to reserve that portion of the ,
applicable appropriation, is employed as an extension of formal budgetary integration
in the General Fund, Special Revenue Funds and Capital Projects Funds. Encumbrances
outstanding at year end are reported as reservations of fund balances since they do
not constitute expenditures or liabilities.
INVENTORIES
The Kodiak Island Borough
Expendable operating supplies of the Borough are accounted for using the purchase
method and, at June 30, 1989, there was no significant amount of such items.
The School District
Expendable operating supplies of the School District, consisting primarily of teaching,
maintenance and food supplies, are accounted for using the consumption method. These
inventories are valued at the lower of average cost or market, except USDA food
inventory (acquired at nominal price) which is recorded at replacement cost. Fuel
inventory is accounted for using the purchase method and is recorded at cost on the
first -in, first -out basis.
The Hospital
Inventories are stated at the lower of cost or market, with cost determined
substantially on a FIFO basis.
RETIREMENT PLANS
All full -time employees of the Borough and School District participate in either the
Alaska Public Employees' Retirement System (PERS) or the Alaska Teachers' Retirement
System (TRS). The Borough and School District accrue pension expense which includes
current costs and amortization of prior service costs. The policy is to fund pension
costs accrued.
ANNUAL LEAVE
The Borough (excluding the School District) records its liability for accrued annual
leave in the Governmental Fund Types for the amounts estimated to be liquidated with
current available resources.
The commitment for accrued annual leave not included in the Governmental Fund Types
is recorded in the General Long -Term Debt Account Group. Cash sufficient to pay the
long -term debt is deposited in a Debt Service Fund.
Enterprise Funds and the School District record leave (including sick leave) as earned.
1
20 1
NOTE 2 - CASH AND T EMPORARY INVESTMENTS
Cash balances of most Borough funds are pooled in a central treasury. Each fund type's
portion of this pool is displayed on the combined balance sheet as "Equity in central
treasury ". In addition, investments are separately held by several of the Borough's
funds. Investments, other than investment in deferred compensation plan which is
carried at market value, are carried at cost.
Reclassification
Certain items in the 1988 financial statements have been reclassified to conform to
1989 presentation. There was no effect on previously reported excess (deficiency) of
revenues and other financing sources over expenditures and other financing uses, net
earnings, fund balance or fund equity.
W Deposits
At June 30, 1989, the carrying amount of the Borough's deposits was $1,021,926 and the
bank balance was $1,915,150. The bank balance was covered by FDIC or other insurance
or by collateral held by the Borough's agent in the Borough's name except for $273,291.
Investments
Statutes authorize the Borough to invest in obligations of the United States, the State
of Alaska and its political subdivisions, savings accounts, certificates of deposit,
banker's acceptances, repurchase agreements and such other legal security instruments.
In accordance with Governmental Accounting Standards Board Statement No. 3 (GASB 3)
investment are categorized as follows: Category 1 includes deposits and investments
that are insured, as defined by GASB 3, registered or collateralized with securities
held by the Borough or its agent in the Borough's name. Category 2 includes uninsured
and unregistered investments or collateralized investments, with securities held by
the pledging financial institution's trust department in the Borough's name. Category
3 includes collateralized investments, with securities held by the pledging financial
' institution or by its trust department but not in the Borough's name. Investments of
the Borough are insured by other forms of insurance not meeting the criteria of GASB 3.
11 21
The above investments are reported under the following captions in the combined
financial statements:
Equity in central treasury
Restricted temporary investments
Temporary investments
Other cash and cash equivalents
Total cash
$ 821,453
476,382
12,998,394
3,306.468
$17.602,697
The Borough Code requires all investments to be collateralized and /or insured.
Collateral pledged on investments is required to be held for the Borough by a third
party bank.
Other Cash and Investments
In addition to the above cash and investments which are under the control of the
Borough, the following is also reported in the financial statements: investments
managed by deferred compensation plan administrators ($519,926).
I
u
1
22 1 4
Category
Carrying
Market
1
2
3
Amount
Value
Repurchase agreements
S
S
S 2,750,000
S 2,750,000
S 2,750,000
U.S. Government Securities
-
2,100,002
496,825
2,596,827
2,614,876
Municipal Securities
2,825,104
-
2,825,104
2,720,380
Banker's Acceptances
1,908,197
482,917
2,391,114
2,446,038
Commercial Paper
-
-
2,911,731
2,911,731
2,957,115
Equity in central treasury
-
-
821,453
821,453
821,453
Deposits
123,418
77,055
200,473
200,473
Deposits with fiscal agents
for debt service
100,000
-
548,922
648,922
648,922
Residual cash with brokers
-
-
4,641
4,641
4,641
Mutual Fund
2.452.432
2. 452,432
2,452.432
SS 223,418
S 6,833,303
$10,545,976
$17,602.697
$17.6
The above investments are reported under the following captions in the combined
financial statements:
Equity in central treasury
Restricted temporary investments
Temporary investments
Other cash and cash equivalents
Total cash
$ 821,453
476,382
12,998,394
3,306.468
$17.602,697
The Borough Code requires all investments to be collateralized and /or insured.
Collateral pledged on investments is required to be held for the Borough by a third
party bank.
Other Cash and Investments
In addition to the above cash and investments which are under the control of the
Borough, the following is also reported in the financial statements: investments
managed by deferred compensation plan administrators ($519,926).
I
u
1
22 1 4
Investments (including time certificates of deposit) made by the Borough are identified
by the specific funding source. A summary of these investments at cost on June 30,
1989 follows:
Repurchase agreements -
National Bank of Alaska
8.7%
9.4%
United States Government
Securities:
Seattle First National
Bank
8.5%
9.4%
Merrill Lynch, Pierce,
Fenner and Smith, Inc.
9.936%
Paine Webber, Inc.
10.0%
Special Debt
General Revenue Service
Fund Funds Funds
S 250,000 S 300,000 $1,000,000
750,000 -
1.000,000 300,000 1,000.000
1,000,000
1,000,000
496,825 -
100.002
1.496.825 1,000.000 100,002
Capital
Projects
Funds
$200,000
200,000
2,825,104
2. 825,104 -
- 482,917
955,433
476.382
476.382 1.438.350
S 250,000 S 2,000,000
- 750.000
250.000 2.750,000
Municipal Securities
Paine Webber, Inc.
4.0 - 7.0%
Banker's Acceptances:
Merrill Lynch
10.354%
Seattle First Bank
9.329%
9.916%
Commercial Paper:
Merrill Lynch, Pierce,
Fenner and Smith, Inc.
9.875%
9.977%
Bateman Eichler, Hill
Richards, Inc.
8.83%
9.704%
Total temporary
investments
1,015,461 - -
238,122
Enterprise
Funds Total
1,000,000
1,000,000
496,825
100.002
2,596,827
2. 825.104
2. 825.104
482,917
955,433
476.382 952.764
476,382 2.391.114
1,015,461
238,122
- 1,052,732 1,052,732
605,416 - - 605.416
1,015,451 - 605,416 1,290,854 2,911.731
S 3,512,286 SS 1� S 4,530,522 $ 2� 9 $ 726,382 $13,474,776
NOTE 3 - ANNUAL APPROPRIATION TO THE SCHOOL DISTR
An annual appropriation is made to the School District in order to provide the School
District with total resources in a fiscal year equal in amount to budgeted
expenditures.
In addition to the annual appropriation, the Borough provides the School District,
without charge, general liability and property insurance and the annual independent
audit.
E *]
C
NOTE 4 - HOSPITAL APPROPRIATION I
By terms of the operating agreement with the Lutheran Health Systems Management
Company, the Borough is ultimately responsible for operating losses (as contractually
defined), if any, sustained by the Hospital. ,
Shared revenue received by the Borough from the State of Alaska includes $149,400,
required to be passed through to the Hospital. The Borough recorded this amount as
intergovernmental revenue and the pass- through as an expenditure for Hospital support.
NOTE 5 - RETIREMENT COMMITMENTS
As of June 30, 1989, substantially all employees of the Borough and School District
participate in either the Alaska Public Employees' Retirement System (PERS, an agent
multiple - employer PERS) or the Alaska Teachers' Retirement System (TRS, a cost - sharing,
multiple - employer PERS). Borough personnel and School District classified personnel
(except those working less than fifteen hours per week) participate in PERS. School
District certificated personnel participate in TRS. Both systems are statewide defined
benefit retirement plans, administered by the State of Alaska.
Plan Descriptions and Provisions
Public Employees' Retirement System (PERS
Employees hired prior to July 1, 1986 with five or more years of credited service are
entitled to annual pension benefits beginning at normal retirement age 55 or early
retirement age 50. For employees hired after June 30, 1986, the normal and early
retirement ages are 60 and 55, respectively. The normal pension benefit is equal to
2% of the member's three highest average monthly compensation for the first ten years
of service, 2 -1/4% for the second ten years of service and 2 -1/2% for the third ten
years of service. All service earned prior to July 1, 1986 will be calculated using
the 2% multiplier. Employees with 30 or more years of credited service may retire at
any age and receive a normal benefit. The system also provides death and disability
benefits and major medical benefits.
Under state law, covered employees are required to contribute 6.75% of their annual
salary to the System and the Borough and School District contribute the amount
actuarially required in addition to employee contributions to finance the benefits of
the system.
Teachers' Retirement System (TRS)
The Teachers' Retirement System of Alaska is a joint contributory retirement system
to provide benefits for teachers of the State of Alaska. All the School District's
certificated employees are participants in TRS. Membership in TRS is compulsory for
each certificated elementary or secondary teacher or other certificated personnel who
are employed on a full -time or part -time basis in positions that require teaching
certificates as a condition of employment.
Employees with eight years or more of credited service are entitled to pension benefits
beginning at normal retirement age (55) equal to 2% of their highest three -year average
monthly compensation for each year of service. The Plan permits early retirement at
age 50. Employees may elect to receive their pension benefits in the form of a joint
or survivor annuity. Effective January 1, 1987, a married member who retires must
receive his benefit in the form of a joint and survivor annuity unless the member's
24 1
spouse consents to another form of benefit. Minimum benefits for employees eligible
for retirement are $25 per month for each year of credited service. In addition, major
medical benefits are provided. TRS also provides death and disability benefits.
Under state law, covered employees are required to contribute 7% of their base salary
earned from July 1 to the following June 30. The School District is required to
contribute the amount actuarially needed in addition to member contributions to finance
the benefits of the System.
Fundine Status and Prowess
The amount shown below as the "pension benefit obligation" is a standardized disclosure
measure of the present value of pension benefits, adjusted for the effects of projected
salary increases and step -rate benefits, estimated to be payable in the future as a
result of employee service to date. The measure is intended to help users assess the
funding status of the System on a going- concern basis, assess progress made in
accumulating sufficient assets to pay benefits when due, and make comparisons among
employers. The measure is the actuarial present value of credited projected benefits
and is independent of the funding method used to determine contributions to the System.
The pension benefit obligation was computed as part of an actuarial valuation as of
June 30, 1988 (latest available). Significant actuarial assumptions used in the
valuation include (a) a rate of return on the investment of present and future assets
of 9 percent per year compounded annually, (b) projected salary increases of 6.5
percent a year for the first five years of employment and 5.5 percent per year
thereafter.
The pension benefit obligation of PERS and TRS as calculated in the most recent
I actuarial valuation is as follows (in thousands):
11 25
PERS
TRS (1)
School
All
Borough
District
Employers
Pension benefit obligation:
Retirees and beneficiaries currently receiving
benefits and terminated employees not yet
receiving benefits
$ 906
$2,911
$ 688,090
Current employees:
Accumulated employee contributions including
allocated investment earnings
416
667
228,217
Employer -- financed vested
863
2,000
381,726
Employer -- financed nonvested
495
899
49.826
TOTAL PENSION BENEFIT OBLIGATION
2,680
6,477
1,347,859
Net assets available for benefits, valued on a
three year average ratio between market and
book values of the System's assets except that
fixed income investments are valued at book
value
2.896
7.111
1.331.905
ASSETS IN EXCESS OF (UNFUNDED)
PENSION BENEFIT OBLIGATION
216
634
(�15 9540
11 25
G
(1) The TRS system does not make separate measurements of assets and pension benefit
obligation for individual employers. Amounts for TRS represent the system as a
whole. The School District's actuarially determined contribution was .9% of the
total current year actuarially determined contribution requirements for all
employers.
Actuarially Determined Contribution Requirements and Contributions Made
The System's funding policy provides for actuarially determined periodic contributions
at rates that fund each participant's benefits under the plan as they accrue. The
contribution rate for normal cost is determined using the projected unit credit
actuarial funding method. The unfunded accrued benefit liability is amortized over
25 years. Actuarial funding surpluses are amortized over five years.
The significant actuarial assumptions used to compute the actuarially determined
contribution requirement are the same as those used to compute the pension benefit
obligation.
The Systems have an actuarial valuation performed annually (as of June 30) which
determines the contribution rates for the year ended two years subsequent to the
valuation date. The contributions to the Systems for fiscal year 1989 were made in
accordance with actuarially determined requirements computed through an actuarial
valuation performed as of June 30, 1987. The contributions (in thousands) consisted
of the following:
Covered payroLL-
Contributions -
NormaL cost
Amortization of unfunded
liability (funding surplus)
TOTAL
Employer
Employee
TOTAL
PERS
Borough
Percent of
Covered
Amount Payroll
$2.131 100.00
362 16.95
(2
0.00
$ 341
15.95%
$ 197
9.20%
144
6.75
S 341
15.95%
PERS
School District
Percent of
Covered
Amount Payroll
$2.526 100.00
428 16.95
(100
$ 328
$ 158
170
S 329
(3.96
6.24%
6.75
1
TRS
Percent of
Covered
Amount Payroll
$7.464 10�%
1 257 16.83
, 134
1.80
$1.391
18.63%
$ 868
11.63%
523
7.00
$1.391
18.63%
Total current year payroll for the Borough and School District was $2,302,006 and
$10,478,814 respectively.
I �
26
Historical Trend Information
115%
1128
1988
Trend information gives an indication
of the progress
made in accumulating sufficient
assets to pay benefits when due.
The pension benefit obligation
has not been
determined by the actuary for years
prior to June
30, 1987. As a
result, only
information at June 30, 1988 and 1987 is available
regarding the following
trend
indicators, (in thousands):
1987
16.078
24.268
1988
10.148
PERS
1987
6.758
6.758
1988
School
6.758
1989
Borough
District
Net asset available for benefits:
1987
$2,222
$5,685
9.208
1988
2,896
7,111
Pension benefit obligation (PBO):
1987
$1,928
$5,085
1988
2,680
6,477
Net assets available for benefits
as a percentage of PBO:
Assets in excess of PBO:
Annual covered payroll:
Assets in excess of PBO expressed as
percentage of annual covered payroll:
Contribution rates:
Employee
Employer
1987
115%
1128
1988
1088
1108
1987
$ 294
$ 600
1988
216
634
1987
$1,830
2,473
1988
2,131
2,526
1987
16.078
24.268
1988
10.148
25.108
1987
6.758
6.758
1988
6.758
6.758
1989
6.758
6.758
1987
4.278
7.298
1988
9.208
6.248
1989
9.208
6.248
NOTE 6 - FIXED ASSETS
A summary of changes in the General Fixed Assets Account Group for the year ended June
30, 1989 follows:
FA
Balance
Balance
July 1. 1988
Additions
Deductions
June 30. 1989
Land
$ 7,469,315
$ -
$ -
$7,469,315
Buildings
50,813,669
7,845,592
-
58,659,261
Improvements other than
buildings
842,139
-
-
842,139
Machinery and equipment
2,901,849
391,442
60,845
3,232,446
Construction work in progress
9.763.157
4.993.722
7.845.592
6.911.287
$71.790.129
$13.230.756
57.9x®
$77.114
FA
The following is a summary of enterprise fund -type fixed assets at June 30, 1989: 1
Unclassified utility plant in service $17,874,572
Hospital building and fixed equipment 4,186,825
Major movable equipment 1.933.487
23,994,884
Less: accumulated depreciation (3.685.933
20,308,951
Construction work in progress 109.607
Net Fixed Assets $20.418.558
NOTE 7 - DEMAND BONDS
Long -Term Debt
Included in long -term debt is $7,000,000 of general obligation demand bonds maturing
serially through June 1, 1996 backed by the full faith, credit, and taxing power of
the Borough. The bonds were issued pursuant to an ordinance adopted by the Borough
Assembly on February 6, 1986. The proceeds of the bonds were used to (a) provide funds
for certain school improvements and (b) pay costs incurred to issue the bonds. The
redemption schedule for these bonds is included in the bond redemption schedule in
Note 8.
The bonds are subject to purchase on the demand of the holder at a price equal to
principal plus accrued interest on seven days' notice and delivery to the Borough's
remarketing agent, John Nuveen and Co. The remarketing agent is authorized to use its
best efforts to sell the repurchased bonds at a price of not less than the principal
amount plus accrued interest.
Under an irrevocable letter of credit issued by Barclays Bank PLC, the trustee is
entitled to draw an amount sufficient to pay the purchase price of bonds delivered to
it. The letter of credit is valid through June 11, 1991 and carries a variable
interest rate which increases over time from the institution's prime lending rate to
prime plus 1 -1/2 %.
If the remarketing agent is unable to resell any bonds that are "put" within the notice
period then the Borough has 365 days to repay the bank.
The Borough is required to pay to Barclays Bank PLC an annual commitment fee for the
letter of credit of 3/4 of 1 percent per annum of the outstanding principal amount of
the bonds, plus 65 days of interest at an interest rate of 15 percent. The Borough
has also paid a letter of credit fee of $25,000 to Barclays Bank PLC. In addition,
the remarketing agent receives an annual fee of one - eighth of 1 percent of the
outstanding principal amount of the bonds.
28
M Fu nd Liabilit
Included as a fund liability of the School Bond Improvements Capital Project Fund is
1 $550,000 of general obligation demand bonds maturing on July 1, 1989, backed by the
full faith, credit, and taxing power of the Borough. The bonds were issued pursuant
to an ordinance adopted by the Borough Assembly on April 14, 1984.
The proceeds of the bonds were used to provide funds for certain school improvements.
The bonds are subject to purchase on the demand of the holder at a price equal to
principal plus accrued interest on seven days' notice and delivery to the trustee.
The sales agent, John Nuveen and Co., is authorized to use its best efforts to sell
the repurchased bonds at par plus accrued interest.
Under an irrevocable letter of credit issued by Rainier National Bank, the trustee is
entitled to draw an amount sufficient to pay the purchase price of bonds delivered to
it. The letter of credit is valid through July 15, 1989 and carries a variable
' interest rate over time from 75 percent to 100 percent of the bank's prime rate.
If the sales agent is unable to resell any bonds that are "put" within the notice
period then the Borough is required to repay the bank the same day as the draw on the
letter of credit.
The Borough is required to pay to Rainier National Bank (now Security Pacific Bank)
an annual facility fee or the letter of credit of from 3/4 of one percent to one
percent of the outstanding principal amount of the bonds deposited with Security
Pacific Bank 125 days of interest at an interest rate of 20 %. In addition, the sales
agent receives an annual fee of one - fourth of one percent of the outstanding principal
amount of the bonds.
n
1 29
NOTE 8 - LONG -TERM DEBT
The following is a summary of long term debt payable for the year ended June 30, 1989:
Interest Payments
Issue Maturity
Woe of Debt Rates Dates Date Date Dates Amount
Loans Payable:
Environmental Protection Agency
Asbestos Abatement
General obligation Serial Bonds:
Schools refunding
Schools
Schools, Multi - projects
Schools, Refunding
6/20/85 11/8/05 12/30/89 S 10,408
06/30/90 10,408
12/31/90 10,417
to x 29
06/30/05
322.910
T.25X 8/1 -2/1 8 8/1/92 -
7.3% -9% 8/1 -2/1 8/1/80 8/1/2000
Variable Quarterly 5/28/86 6/1/96
6.6-8% 8/1 -2/1 5/1/89 8/1/2000
9/1/89
250,000
12/1/89
250,000
3/1/90
250,000
6/1/90
250,000
to
x 25
6/1/96
7.000.000
8/1/89
690,000
8/1/90
575,000
8/1/91
630,000
8/1/92
680,000
8/1/93
725,000
8/1/94
780,000
8/1/95
835,000
8/1/96
890,000
8/1/97
945,000
8/1/98
1,015,000
8/1/99
1,080,000
8/1/00
1.155.000
10.000.000
$173 ,910
30
Authorized Prior Years Current Year
Balance at Balance at
Year Amount Issued Retired July 1, 1988 Issued Retired June 30, 1989
1986 S 375,000
S 375,000
S 31,251
S 343,749 S
$ 20,839 S 322,910
1974 1,900,000
1,900,000
450,000
1,450,000
1,450,000 -
1979 12,100,000
12,100,000
2,140,000
9,960,000
9,960,000
1986 9,930,000 9,930,000 1,930,000 8,000,000 - 1,000,000 7,000,000
1989 10,000,000 10,000,000
$34,305,000 $24.305,000 $4.551.251 $19�� $10,000,000 $12,430,839
10,000,000
$17,322,910
31
A summary of long -term debt as of and for the year ended June 30, 1989 follows:
General obligation bonds
EPA loan payable
Accrued annual leave
Balance at Balance at
July 1. 1988 Additions Deductions June 30. 1989
$19,410,000 $10,000,000 $12,410,000 $17,000,000
343,749
20,839 322,910
133.423 8.598 5.540 136.481
$19.887.172 $10.008.598 512,436,379 $17.459.391
The annual requirements to amortize all general obligation debt and the EPA loan
payable outstanding as of June 30, 1989, including interest payments of $6,479,175 on
the general obligation debt, are as follows:
June 30,
1990
$ 2,413,974
1991
2,691,819
1992
2,620,819
1993
2,542,939
1994
2,463,059
1995
2,389,847
1996
2,312,976
1997
1,262,032
1998
1,256,511
1999
1,261,779
2000
1,256,744
2001
1,256,684
2002 -2005
72.902
$23,802,085
The amount of $5,809,249 is available in the Debt Service Funds to service all general
obligation bonds (including the $550,000 in general obligation demand bonds reported
in the capital project funds).
There are a number of limitations and restrictions contained in the various bond
indentures. The Borough is in compliance with all significant limitations and
restrictions.
Refunding Bonds
During 1974, the Borough defeased existing school bonds by utilizing the proceeds of
bonds then issued. The proceeds from the "refunding bonds" (issued in the amount of
$2,325,000) have been invested in U.S. Government securities at an interest rate which
will result in a return of proceeds that, when added to the securities' principal
balances, will be sufficient to meet the interest and principal requirements of the
defeased bonds.
On May 1, 1989, the Kodiak Island Borough issued $10 million in General Obligation
Bonds with an average interest of 6.93 percent to advance refund $9,495,000 of
outstanding 1980 Series bonds with an average rate of 7.88 percent. The net proceeds
32
'I
of $9,865,100 (including receipts of a premium of $20,613 and accrued interest of
$94,265 and after payment of $249,778 in underwriting fees, insurance, and other
issuance costs) were used to purchase U.S. government securities. Those securities
were deposited in an irrevocable trust with an escrow agent to provide for all future
' debt service payments on the 1980 Series bonds. As a result, the 1980 Series bonds
are considered defeased and the liability for those bonds has been removed from the
general long -term debt account group of the Kodiak Island Borough.
The Borough advance refunded the 1980 Series bonds to reduce its total debt services
payments over the next twelve years by almost $242,000 and to obtain an estimated
economic gain (difference between the present values of the debt service payments on
the old and new debt) of $1,071,901. The gain is based on receiving future debt
service reimbursements from the State of Alaska at the rate structure currently in
effect. The reimbursements are, however, subject to annual appropriation any may
change.
The investments in the securities and the current obligations of the defeased bonds
are not reflected in the combined financial statements. A summary of the investments
held in trust and the current obligations of the defeased bonds at June 30, 1988 are
summarized as follows:
Bond Principal Investments
Outstanding Held in Trust
Series 1974 School bonds, 5.5% to
5.7 %, due in installments to 1992
Series 1980 School bonds, 7.3% to
9.0 %, due in installments to 2000
$ 1,535,000 $ 1,545,510 (1)
9.495.000 9.865.100 (2)
$11.030.000 S11.410.610
1 (1) Central Bank of Denver as Trustee
(2) Security Pacific Bank at Seattle as Trustee
NOTE 9 - CAPITAL PROJECTS FUNDS CONSTRUCTION COMMITMENTS
A summary of Capital Projects Funds construction commitments at June 30, 1989 follows:
Various Borough Projects $ 8,205
School Bond Improvements Fund 314,568
School Equipment and Furnishings Fund 29,853
State Capital Grants Fund 184.603
S 5
Resources are presently available or committed to finance construction commitments at
June 30, 1989 for all funds except the School Bond Improvements Fund. The additional
resources required in this fund will be available during fiscal year 1990.
NOTE 10 - ENTERPRISE FUND SEGMENT INFORMATION
The Borough owns and operates a Water and Sewer Utility Enterprise Fund and a Sanitary
Landfill Fund. The Kodiak Island Borough Hospital is included in the Borough's
financial statements as a component unit. The water, sewer and sanitary services
33
utilities have a June 30 year end while the Hospital operates on a December 31 year
end. Segment financial data as of and for the year ended June 30, 1989 for the water,
sewer and sanitary services utilities and as of and for the year ended December 31,
1988 for the Hospital are as follows:
operating revenues
Depreciation
Operating income (loss)
Operating grants entitlements
Operating transfers in (out)
Net earnings (toss)
Contributions in aid of construction:
Additions
Amortization
Property, plant and equipment additions
Net working capital
Total assets
Total equity
Sanitary
Water
Sewer
Services
Utility
Utitity
Hosaitat
Totat
S 666,093
S 201,641
S 233,395
S 6,291,993
$ 7,393,122
70,544
108,157
239,647
299,331
717,679
(349,308)
(81,440)
(260,870)
(42,965)
(734,583)
-
-
149,400
149,400
335,000
-
-
-
335,000
(13,102)
(55,244)
(250,316)
332,875
14,213
-
-
1,592
13,762
15,354
69,426
108,14 8
224,339
-
401,913
141,330
18,102
20,889
433,183
613,504
(37,551)
243,268
34,938
4,118,558
4,359,213
2,483,741
5,717,163
9,508,866
8,711,501
26,421,271
2,411,956
5,679,934
9,493,074
8,311,108
25,896,072
NOTE 11 - DEFERRED COMPENSATION PLAN
The Kodiak Island Borough has a deferred compensation plan created in accordance with
Internal Revenue Code Section 457. The Plan is available to all permanent Borough
employees. The deferred compensation is not available to employees until termination,
retirement, death or unforeseeable emergency.
All amounts of compensation deferred under the plan, all property and rights purchased
with those amounts, and all income attributable to those amounts, property or rights
are (until paid or made available to the employee or other beneficiary) solely the
property and the right of the Borough (without being restricted to the provisions of
benefits under the plan), subject only to the claims of the Borough's general
creditors. Participants' rights under the plan are equal to those of general creditors
of the Borough in an amount equal to the fair market value of the deferred account for
each participant.
The funds are managed by the International City Managers Association Retirement
Corporation. The Borough has no liability for losses under the plan but does have the
duty of due care that would be required of an ordinary prudent investor. The Borough
believes that it is unlikely that it will use the assets to satisfy the claims of
general creditors in the future.
k
34 1
NOTE 12 - INDIVIDUAL FUND DISCLOSURES
Interfund Receivables and Pa,abls
A summary of interfund receivables and payables at
June 30, 1989
is as follows:
Receivable
Payable
Special Revenue Funds -
Fire Protection Area 1
$ 290,743
$ -
Special Revenue Funds -
Women's Bay Fire
-
18,105
Special Revenue Funds -
Energy
-
8,092
Special Revenue Funds -
Oil Spill Cleanup
-
264,546
Special Revenue Funds -
Education
2,064,267
-
General Fund
-
2,064,267
Special Revenue Funds -
Building and Grounds
63,168
-
General Fund
-
63,168
Capital Projects Funds
- School Equipment and
Furnishings
70,380
-
Special Revenue Funds -
Education
-
70,380
Capital Projects Fund -
Various Borough Projects
163,807
-
Capital Projects Fund -
State Capital Grants
-
163,807
Enterprise Fund - Sanitary Services
16,580
-
Enterprise Fund - Sewer
-
10,525
Enterprise Fund - Sewer
- Restricted
-
3,027
Enterprise Fund - Water
- Restricted
3.028
Fund Deficits
Fund deficits at June 30, 1989 are as follows:
1 . a 9.45 52.6®
Special Revenue -
Women's Bay Road Services District $ 8,015
This deficit will be funded through increased fiscal year 1990 property tax levies.
Capital Projects -
State Capital Grants $ 62,677
Deficit will be funded in fiscal year 1990 through transfers from other funds.
Interfund Transfers
Interfund operating transfers have been made in accordance with budget ordinances with
the exceptions of the transfer of the funding of long -term annual leave.
1
35
�
Funds are transferred from one fund to support expenditures of other funds in
accordance with the authority established for the individual fund. Transfers within '
fund types have been eliminated. Transfers between fund types during the year ended
June 30, 1989, were as follows: g
Excess of Expenditures Over Appropriations
General Fund
The following departments' expenditures exceed their appropriations:
Department Excess
Borough Assembly $ 5,716
Community and Regional Affairs 771
Education Support 6,797
Economic Development 817
Switchboard /word processing 3.732
$ 17,833
Capital Projects
The following projects' expenditures exceeded their appropriation:
Project Excess
045 -287 Old Harbor School $135,609
047 -187 Hospital Construction 47.118
182 727
Enterprise Fund
The following funds' expenditures exceed their appropriation.
Fund Excess
Water $ 87,081
Sewer 242.125
1 111 d . 206
36
Out
Transfers In
Special
Debt
Capital
'meral
Revenue
Service
Projects
Enterprise
and
Funds
Funds
Funds
Funds
Fund Tvce
Operating transfers:
General Fund
$2,996,437
S -
$2,686,100
$ 8,597
$ 161,740
$140,000
Special Revenue
6,741,075
56,410
4,996,378
1,493,287
195,000
Capital Projects
300,000
-
300,000
Debt Service
5,540
5,540
Total Operating Transfers
$10,043,052
$56,410
$2�
$5,004,975
$1,655,027
$33
Excess of Expenditures Over Appropriations
General Fund
The following departments' expenditures exceed their appropriations:
Department Excess
Borough Assembly $ 5,716
Community and Regional Affairs 771
Education Support 6,797
Economic Development 817
Switchboard /word processing 3.732
$ 17,833
Capital Projects
The following projects' expenditures exceeded their appropriation:
Project Excess
045 -287 Old Harbor School $135,609
047 -187 Hospital Construction 47.118
182 727
Enterprise Fund
The following funds' expenditures exceed their appropriation.
Fund Excess
Water $ 87,081
Sewer 242.125
1 111 d . 206
36
Proprietary Funds reconciliation of Fund
equity for
year ended June 30,
1989.
Sanitary
Water
Serer
Services
Utility
Utility
Hospital
Total
Fund equity at beginning of year
$2,425,058
$5,735,178
$9,741,798
$7,964,471
$25,866,505
Net earnings (loss)
(13,102)
(55,244)
(250,316)
332,875
14,213
Increase in contributed capital
1,592
13.762
15.354
' Fund Equity at end of year
$2,411,956
$5,634
$9,493,074
$8,311,108
$25,8
Debt Service Funds
The combined statement of Revenues, Expenditures, and Changes in Fund Balances - Budget
and Actual does not include debt service - other numbers as the borough is not legally
required to budget for that fund. Debt service - other statement of revenues,
expenditures and changes in fund balance consists of the following:
Operating transfer in:
General Fund 8,597
8.597
Operating transfer out:
Fire Service District Area 1 1,472
Mental Health 4.068
5.540
Net operating transfers 3.057
Fund balance at beginning of year 133.423
Fund balance at end of year 136 480
NOTE 13 - CONTINGENCIES
Litigation
The Borough, in the normal course of its activities, is involved in various claims and
pending litigation.
In the opinion of management, the disposition of the claims and litigation is not
presently expected to have a material adverse effect on the Borough's financial
statements.
Grants
Amounts received or receivable from grantor agencies are subject to audit and
adjustment by the grantor agencies. Any disallowed claims, including amounts already
collected, would become a liability of the General or other applicable funds. In
management's opinion, disallowances, if any, will be immaterial.
37
GENERAL FUND
I I
it]
I I
The General
Fund accounts for the financial operations of the Borough that are not
required to
be accounted for in any
other fund. Principal sources of revenue are
property taxes and intergovernmental
revenues. Primary expenditures in the General
Fund are for
general governmental and
public services.
I I
it]
I I
EXHIBIT A -1
KODIAK ISLAND BOROUGH
GENERAL FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
ASSETS
1989
Temporary investment $3,512,286
Other cash 1.235
Total cash and investments 3.513.521
Receivables:
State of Alaska
1,749,479
Property taxes:
Delinquent taxes
21,136
Allowance for uncollectible delinquent
taxes
(11.773
Net property taxes
9,363
Accrued interest receivable
23,510
Other
-
Net receivables
1.782.352
Prepaid
-
$5.2
LIABILITIES AND FUND BALANCE
Liabilities:
1988
$5,000,961
3.702
5.004.663
968,914
25,610
(9.133
16,477
91,246
20.249
1.096.886
49.643
$6.1
Accounts payable $ 43,111 $ 28,063
Payroll taxes and employee benefits 23,640 78,421
Other accrued liabilities 3,316 7,934
Due to other funds 2.127.435 3.787.908
Total liabilities 2.197.502 3.902.326
Fund balance:
Reserved for encumbrances 15,981 26,819
Designated for subsequent year expenditures 3.082.390 2.222.047
Total Fund Equities 3.098.371 2.248.866
$5.2� $6.1�
40
EXHIBIT A -2
11 41 Continued
KODIAK ISLAND
BOROUGH
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND
CHANGES IN
FUND BALANCE -
BUDGET AND ACTUAL
YEAR
ENDED JUNE
30, 1989
WITH
COMPARATIVE TOTALS FOR 1988
1989
Variance
Favorable
1988
1
Bud eg_t
Actual
(Unfavorable)
Actual
Revenues:
'
Property taxes:
Real
$1,700,000
$1,643,093
$ (56,907)
$1,587,212
Personal
219,300
220,072
772
222,486
'
Motor vehicle
150,000
173,644
23,644
157,141
Penalty and interest
40,000
33,519
(6,481)
44,818
Payment in lieu of taxes
475.410
445,108
(30,302
479,408
'
Total property taxes
2,584,710
2,515,436
(69,274
2,491,065
Intergovernmental:
State sources:
State shared revenue
862,520
863,771
1,251
874,093
Municipal assistance
527,690
526,608
(1,082)
527,690
'
Raw fish tax
Electric co -op tax
1,312,340
4,480
2,044,881
9,634
732,541
5,154
875,085
4,484
Miscellaneous
210
18
(192
8,655
Total state sources
2,707,240
3,444,912
737,672
2,290,007
Federal sources
720
5,036
4,316
1,620
Total intergovern-
'
mental
2,707,960
3,449,948
741,988
2,291,627
Licenses, permits, fees and
other local revenues:
'
Building and trailers
12,000
23,549
11,549
14,989
Subdivision and zoning
fees
Sale of copies
5,900
10,200
15,671
1,401
9,771
(8,799)
9,986
7,977
Switchboard services
-
16,446
16,446
Emergency medical services
32,000
26,015
(5,985)
-
'
Miscellaneous
7,450
12,666
5,216
65,007
Total licenses,
permits, fees
and other local
'
sources
67,550
95,748
28,198
97,959
11 41 Continued
EXHIBIT A -2 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES. EXPENDITURES. TRANSFERS AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL ,
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988 ,
1989
■
Variance
Budget
Actual
Favorable
(Unfavorable)
1988
Actual
Investments and property:
Interest income
150,000
351,772
201,772
327,316
Gain on exchange
10,000
-
(10,000)
26,486
'
Lease rentals on land
and buildings
1,500
2,751
1,251
2,000
Computer rental
-
-
100
Total investments
'
and property
161.500
354.523
193.023
355.902
Total revenues
5.521.720
6.415.655
893.935
5.236.553
Expenditures:
Borough Assembly
60,000
65,716
(5,716)
38,112
Mayor's department
129,970
127,046
2,924
140,529
'
Clerk's department
202,330
193,671
8,659
152,543
Finance department
245,560
208,486
37,074
228,706
Legal services
85,720
81,290
4,430
79,491
Consolidation committee
14,000
13,308
692
1,563
'
Assessment department
178,610
174,257
4,353
159,481
Community development
department
312,470
281,250
31,220
212,139
,
Engineering department
159,360
84,179
75,181
64,787
Health and sanitation
525,000
517,112
7,888
465,954
Data services
170,220
145,512
24,708
178,519
,
Resource management
61,410
58,663
2,747
52,430
General administration
396,850
299,131
97,719
370,669
Building inspector
82,806
Emergency preparedness
34,000
28,357
5,643
80,903
z
Facilities department
52,760
52,728
32
26,656
Community and Regional
Affairs Liaison
3,780
4,551
(771)
5,166
,
Education support
22,200
28,997
(6,797)
30,415
Economic development
30,000
30,817
(817)
28,668
Switchboard/Word processing
65,860
69,592
(3,732)
61,542
'
Culture and recreation
161.500
161.460
40
146.990
Total expenditures
2.911.600
2.626.123
285.477
2.608.069
Continued
42
'
EXHIBIT A -2 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES EXPENDITURES, TRANSFERS AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Excess of revenues over
expenditures
Operating transfers in:
Special Revenue - land sales
Capital Projects - Other
Debt Service - other
Total operating
transfers from
other funds
Operating transfers out:
Special Revenue:
Education
Mental Health
Buildings and grounds
Capital Projects:
Various Borough projects
State Capital grants
Debt Service:
School bonds
Other
Enterprise Funds:
Sanitary services fund
Total operating
transfers to
other funds
Net operating trans-
fers in (out)
Excess (deficiency) of revenues
and operating transfers in
over expenditures and
operating transfers out
Fund balance at beginning
of year
Fund balance at end of year
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
2.610.120 3.789.532 1.179.412 2.628.484
56,410 56,410 - 52,680
- - - 45,291
16.664
56.410 56.410 - 114.635
2,100,000
2,100,000 -
2,000,000
140,000
140,000 -
80,000
446,100
446,100 -
300,000
148,390
148,390 -
-
13,350
13,350 -
-
-
- -
300,000
-
8,597 (8,597)
-
140.000
140.000 -
290.000
2.987.840
2.996.437 (8.597
2.970.000
(2.931.430 (2.940.027 (8.597 (2.855.365
$ (321,310 849.505 � 1,11,1
2.248.866
S3.0
(226,881)
2.475.747
52.2
43
EXHIBIT A -3
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Expenditures:
Borough Assembly:
Personnel services
Fringe benefits
Support, goods & services
Total
Mayor's department:
Personnel services
Fringe benefits
Support, goods & services
Capital outlay
Total
Clerk's department:
Personnel services
Fringe benefits
Support, goods & services
Capital outlay
Total
Consolidation committee:
Personnel Services
Fringe Benefits
Support, goods & services
Total
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
16,800
20,064
(3,264)
8,400
-
1,396
(1,396)
301
43.200
44.256
(1.056
29.411
60.000
65.716
(5.716
38.112
89,280
81,073
8,207
86,566
23,250
18,314
4,936
39,771
16,340
21,520
(5,180)
14,192
1.100
6.139
(5.039
129.970
127.046
2.924
140.529
99,140
97,380
1,760
78,222
33,350
29,668
3,682
19,360
65,840
62,655
3,185
50,196
4.000
3.968
32
4.765
202.330
193.671
8.659
152.543
5,000
9
4,991
-
-
4
(4)
-
9.000
13.295
(4.295
1.563
14.000
13.308
692
1.563
F 11
u
44 '
45 Continued
EXHIBIT A -3
(Continued
t
KODIAK ISLAND
GENERAL FUND
BOROUGH
SCHEDULE
OF EXPENDITURES AND TRANSFERS
-
BUDGET AND ACTUAL
YEAR ENDED JUNE
30, 1989
WITH
COMPARATIVE TOTALS FOR 1988
i
1989
'
Variance
Favorable
1988
Budget
Actual
(Unfavorable)
Actual
Finance department:
Personnel services
178,310
171,870
6,440
178,188
'
Fringe benefits
55,670
47,098
8,572
39,199
Support, goods & services
31,580
30,138
1,442
29,156
Allocated to projects
(20,000)
(41,330)
21,330
(22,250)
'
Capital outlay
710
(710
4.414
Total
245.560
208.486
37.074
228.706
'
Legal services:
Support, goods & services
18,920
14,903
4,017
14,468
Costs of litigation
6,000
200
5,800
2,163
'
Legal fees
60,000
65,769
(5,769)
62,309
Court costs
800
418
382
551
'
Total
85.720
81.290
4.430
79.491
Assessing department:
'
Personnel services
122,120
119,198
2,922
86,218
Overtime
24,310
Fringe benefits
32,640
31,896
744
24,451
Support, goods & services
32,450
28,095
4,355
24,502
'
Allocated to projects
(9,100)
(9,100)
Capital outlay
500
4.168
(3.668
'
Total
178.610
174.257
4.353
159.481
Community development
t
department:
Personnel services
161,110
156,664
4,446
145,743
Fringe benefits
53,710
33,361
20,349
38,024
Support, goods & services
112,650
101,992
10,658
40,813
Allocated to projects
(17,540)
(18,484)
944
(28,372)
Capital outlay
2.540
7.717
(5.177
15.932
Total
312.470
281.250
31.220
212.139
45 Continued
EXHIBIT A -3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
Engineering department:
Personnel services
190,750
189,201
1,549
144,899
Fringe benefits
52,760
33,037
19,723
34,005
Support, goods & services
15,850
16,614
(764)
12,179
Allocated to projects
(100,000)
(154,673)
54,673
(131,387)
Capital outlay
-
-
-
5.091
Total
159.360
84.179
75.181
64.787
Health and sanitation:
Support, goods & services
62,900
63,408
(508)
62,000
Homeless Shelter
8,400
-
8,400
-
Personnel services
-
-
-
1,954
Council on Alcoholism
56,300
56,300
-
36,800
State Health Services Villages
28,690
28,690
-
33,600
State Health Services Kana
9,560
9,560
-
11,200
Mental Health Center
-
-
-
Women's Resource Crisis
34,900
34,900
-
35,400
American Red Cross
2,000
2,000
-
-
Alaska Legal Services
13,850
13,850
-
-
Kodiak Baptist Mission
60,000
60,000
-
60,000
Small World (Day Care)
21,000
21,000
-
-
Special Olympics
3,000
3,000
-
-
Health Center Support
2,000
2,004
(4)
-
Senior Citizen Support
20,000
20,000
-
-
Kodiak Respite Care
3,000
3,000
-
-
Hospital and Health Services
199.400
199.400
-
225.000
Total
525.000
517.112
7.888
465.954
Continued 46 1
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
EXHIBIT A -3 (Continued
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
Data services:
Personnel services
134,340
134,493
(153)
132,549
Fringe benefits
41,000
36,043
4,957
33,217
Support, goods & services
53,790
51,511
2,279
66,438
Allocated to projects
(101,200)
(118,243)
17,043
(100,823)
Capital outlay
42.290
41.708
582
47.138
Total
170.220
145.512
24.708
178.519
Resource management:
Personnel services
42,370
40,451
1,919
38,292
Fringe benefits
15,240
14,415
825
10,975
Support, goods & services
3.800
3.797
3
3.163
Total
61.410
58.663
2.747
52.430
General administration:
Support, goods & services
231,870
169,906
61,964
213,625
Audit expense
105,980
72,351
33,629
98,104
Contributions
45,000
45,000
-
54,000
Capital outlay
14.000
11.874
2.126
4.940
Total
396.850
299.131
97.719
370,669
47 Continued
EXHIBIT A -3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Culture and recreation:
KMXT Public Radio
Historical Society
Summer Basketball
Crimestoppers
Kodiak Isle Sport Assn.
Kodiak Art Council
Village Libraries
Chiniak Public Library
City of Kodiak Library
Head Start
Kodiak College
Total
Building inspector's
department:
Personnel services
Fringe benefits
Support, goods & services
Allocated to projects
Total
Switchboard/Word processing:
Personnel services
Fringe benefits
Support, goods & services
Total
52,390 52,621
12,230 15,368
1.240 1.603
65.860 69.592
(231) 50,326
(3,138) 11,216
(363
(3.732 61.542
Emergency preparedness: '
Support, goods & services 6,000 698 5,302 233
Capital outlay 28.000 27.659 341 80.670
Total 34.000 28.357 5.643 80.903 '
Continued 48
1989
Variance
Favorable 1988
Budget
Actual
(Unfavorable) Actual
12,000
12,000
- 7,000
9,000
9,000
- 9,000
3,000
3,000
- -
1,000
1,000
- -
1,500
1,500
- -
12,000
12,000
- 12,000
19,720
19,680
40 19,710
3,280
3,280
- 3,280
58,000
58,000
- 58,000
8,000
8,000
- 3,000
34.000
34.000
35.000
161.500
161.460
40 146.990
-
-
- 55,885
-
-
- 29,243
-
-
- 3,598
-
-
- (5.920
82.806
52,390 52,621
12,230 15,368
1.240 1.603
65.860 69.592
(231) 50,326
(3,138) 11,216
(363
(3.732 61.542
Emergency preparedness: '
Support, goods & services 6,000 698 5,302 233
Capital outlay 28.000 27.659 341 80.670
Total 34.000 28.357 5.643 80.903 '
Continued 48
EXHIBIT A -3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
. 1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
Facilities coordinator
department:
Personnel services 98,750 89,096 9,654 126,775
Fringe benefits 35,460 26,210 9,250 28,082
' Support, goods & services 18,550 23,116 (4,566) 17,292
Allocated to projects (100,000) (86,644) (13,356) (145,756)
Capital outlay - 950 (950 263
' Total 52.760 52.728 32 26.656
Community and regional
' affairs liaison:
Support, goods & services 3,780 5,156 (1,376) 5,166
Allocated to projects - (605 605 -
' Total 3.780 4.551 (771 5.166
Education support:
School support:
Audit expense 22.200 28.997 (6.797 30.415
' Total 22.200 28.997 (6.797 30.415
Economic development:
' General services:
Fringe benefits - 638 (638) -
Support, goods & services 30.000 30.179 (179 28.668
' Total 30.000 30.817 (817 28.668
Total expenditures 2.911.600 2.626.123 285.477 2.608.069
!i
49 Continued
EXHIBIT A -3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
61#1
1989
Variance
Favorable
1988
Budget
Actual
(Unfavorable)
Actual
Operating transfers out:
Special Revenue:
Education
2,100,000
2,100,000
-
2,000,000
Mental Health
140,000
140,000
-
80,000
Buildings and grounds
446,100
446,100
-
300,000
Capital Projects:
Various Borough projects
148,390
148,390
-
-
State Capital grants
13,350
13,350
-
-
Debt Service:
School bonds
-
-
-
300,000
Other
-
8,597
8,597
-
Enterprise Funds:
Sanitary landfill fund
140,000
140,000
-
290,000
Total
2,987,840
2,996,437
(8,597
2,970,000
55.899 440
S5.6�
S 276,880
15 , 5
61#1
SPECIAL REVENUE FUNDS
These funds are used to account for revenues from specific taxes or other
ear- marked revenue sources which by law are designated to finance particular
functions or activities of government.
FIRE AND ROAD SERVICE DISTRICTS
These funds account for the activities related to service districts established
by the voters within the district to provide road services and fire protection
within the service area. The primary sources of revenues are property taxes and
state - shared revenues directly related to road services or fire protection within
the service area.
MENTAL HEALTH CENTER
This fund accounts for the operations of a mental health center financed by a
State of Alaska contract and user fees.
ENERGY FUND
This fund accounts for State of Alaska and Federal grants related to the effects
of coastal energy development impacts. Expenditures of these grants are for
comprehensive plans, coastal sensitivity analysis, outer continental shelf impact
analysis, ordinance update and planning and zoning.
DAY CARE FUND
This fund accounts for a State of Alaska grant to finance day care for children
of low- income, employed families.
EDUCATION
This fund accounts for the operations of the Kodiak Island Borough School
District. The School District is a component unit of the Kodiak Island Borough.
LAND SALES FUND
The Land Sales Fund accounts for the disposal of Borough -owned lands. The
proceeds of land disposals are generally limited to management of Borough lands.
BUILDING AND GROUNDS
This fund accounts for the operations and maintenance of certain buildings and
grounds owned by the Borough which are jointly shared with the City of Kodiak,
the Kodiak Island Borough School District, the State of Alaska, the Kodiak Island
Borough and certain not - for - profit community organizations.
OIL SPILL CLEANUP
This fund accounts for costs incurred by the Borough due to the oil spill of the
Exxon Valdez. Such costs are reimbursed by the State of Alaska and Exxon.
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
ASSETS
Equity in central treasury
Temporary investments
Other cash balances
Receivables:
State of Alaska
Land sales contract, due
within one year
Exxon
Accrued interest
Other
Allowance for doubtful receivables
Due from other funds
Inyentories
Prepaids
Land sales contracts receivable,
due after one year
Other
Fire and Road Service Districts
Fire Road
Women's Monashka District Women's Bay View
Area 1 Bay Bay One Bay Road
S 49,462 S 12,092 S 20,666 S 2,719 S - S 1,101
10,000
290,743
S 340,205 S 12,092 S 20,666 $ 2,719 S 10,000 S 1,101
LIABILITIES AND FUND BALANCES (DEFICITS)
Liabilities:
Accounts payable $ 290 S 195 $ S
Salaries payable 1,004 -
Payroll taxes accrued and withheld -
Employee benefits accrued
and withheld
Customer deposits - 300
Deferred and unrealized revenues -
Due to other funds _
Total liabilities 1,294 495 _
Fund balances (deficits):
Reserved for encumbrances
Reserved for fuel inventory
Unreserved:
Designated for subsequent
year expenditures
Undesignated:
Total fund balances
(deficits)
S 340,205 S 12A92 $ 20,666 S 2,719 $ 10,000 S 1,101
S - S
18,105
18,105 _
338,911
11,597
20,666
2,719
(8,105
1,101
338,911
11,597
20,666
2,719
(8,105
1,101
52
EXHIBIT B-1
Federal and State Grant Programs
Mental Building Totals
Health and OR Spill
Center Energy Day Care Education Land Sales Grounds Cleanup 1989 1988
S 62,974 S s s
103 32,993
165,456 8,092 18,964 997,717
160,129 16,712
(39,109)
2,064,267
20,580 251,196
, .2 39 ) -
S 370,372 S 8,092 S 18,964 $3,362,885
S 44,212
5 81,451 S S 274,677
S 855,958
1,776,382
1,776,382
2,265,244
33,096
14,499
70,826 1,261,055
789,685
343,529
343,529
257,200
378,010 378,010
-
62,401
62,401
119,215
-
186,841
132,842
(18,252)
- (57,361)
(57,693)
63,168 2,418,178
2,307,656
- 271,776
230,064
-
6,130
1,471,044
1,471,044
1,978,712
239
-
$3,679,316 S$ 144,619 S$ 448,836 $8,419,867 $8,899,512
$ 17,007 $ S 18,792 S 561,822
- - 668,794
678,001
6,599 104,257
3,331
8.092 70,380
23,606 8,092 18,792 2,086,585
7,338 56,659
82,952
S 8,102 S 7,600 S 184,290 S 798,098 S 289,192
- - 669,798 848,800
678,001 490,244
110,856 116,906
- 300 300
1,814,573 - 1,817,904 2,393,319
264.546 361,123 291,365
1,822,675 7,600 448,836 4,436,080 4,430,126
36,844 100,841 129,312
82,952 73,680
444,114 - 444,114 290,000
339,428 172 692,575 1,819,797 137,019 3,355,880 3,976,394
346,766 - 172 1,276,300 1,856,641 137,019 3,983,787 4,469,386
$ 370,372 $ 8,092 $ 18,964 $3,362,885 $3,679,316 $ 144,619 $ 448,836 $8,419,867 $8,899,512
53
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES. EXPENDITURES
AND CHANGES IN FUND BALANCES (DEFICITS)
JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Excess (deficiency) of revenues
and operating transfers in
over expenditures and operating
transfers out 35,896 (5,447) 7,570 (18,092) 6,971 2,008
Fund balances (deficits) at
beginning of year 303,015 17,044 13,096 20,811 (15,076) (907)
Adjustments to reserve for
fuel inventory
Fund balances (deficits)
at end of year S 338,911 $ 11.59 7 E$2 ,666 S 2,719 S (8,105 S 1,101
54
Fire and Road Service Districts
Fire
Road
Women's
Monashka
District
Women's
Bay View
Area 1
Bay
Bay
One
Bay
Road
Revenues:
Property taxes
S 130,341
S 5,944
S 18,103
S 16,927
S 35,706
S 3,251
State sources
8,787
993
4,258
10,785
18,109
914
Federal sources
Land sale proceeds
Exxon reimbursement
-
-
'
Licenses, permits, fees and
other local revenues
6,300
6,806
10,000
-
Investments and property
19.980
Total revenues
165.408
13.743
22.361
27.712
63.815
4.165
Expenditures:
Planning and community
development
Health and sanitation
Education support
-
-
-
General administration
98,271
19,190
Oil spill cleanup
Capital outlay:
Capital improvements
'
Schools
-
-
'
Services district maintenance
-
14,791
45,804
56,844
2,157
General
27.713
-
-
-
Total expenditures
125.984
19.190
14.791
45.804
56.844
2.157
Excess (deficiency) of revenues
over expenditures
39.424
(5.447
7.570
(18.092
6.971
2.008
Operating transfers in
1,472
-
-
Operating transfers out
(5.000
Net operating transfers
(3.528
Excess (deficiency) of revenues
and operating transfers in
over expenditures and operating
transfers out 35,896 (5,447) 7,570 (18,092) 6,971 2,008
Fund balances (deficits) at
beginning of year 303,015 17,044 13,096 20,811 (15,076) (907)
Adjustments to reserve for
fuel inventory
Fund balances (deficits)
at end of year S 338,911 $ 11.59 7 E$2 ,666 S 2,719 S (8,105 S 1,101
54
EXHIBIT B-2
Federal and State Grant
Programs
Mental
Building
Totals
Health
and
OiL Spill
Center
Energy
Day Care
Education
Land Sales
Grounds
Cleanup
1989
1988
S - S
-
S .
S .
S .
S S
.
S 210,272
S 181,091
861,312
22,180
232,720
17,546,005
21,980
70,826
18,798,869
18,433,953
-
-
1,005,261
-
-
-
1,005,261
788,491
-
377,586
-
377,586
588,547
-
-
1,013,079
1,013,079
-
421,186
193,269
34,914
672,475
573,740
70,377
-
145,148
279.287
-
514,792
441,680
1.352,875
22,180
232,720
18,744,535
579,628
279.287
1.083,905
22,592,334
21,007,502
-
22,180
-
-
6,023
-
28,203
36,148
1,369,005
-
232,949
-
-
-
1,601,954
1,415,210
-
-
15,698,012
-
15,698,012
15,467,882
-
-
616,291
733,752
690,399
_
-
1,083,905
1,083,905
-
-
44,633
-
44,633
-
_
119,596
131,240
27.713
12,634
1,369,005
22,180
232,949
15,698,012
50,656
616,291
1.083,905
19,337,768
17,753,513
(16.130
-
(229
3.046,523
528,972
(337,004
-
3,254,566
3,253,989
144,068
-
-
2,100,000
300,000
446,100
2,991,640
2,490,539
-
-
(4,998,365
(1,737,710
(6,741,075
(4,594,612
144,068
(2,898,365
(1,437,710
446,100
(3,749,435
(2,104,073
127,938 (229) 148,158 (908,738) 109,096 (494,869) 1,149,916
218,828 - 401 1,118,872 2,765,379 27,923 4,469,386 3,317,955
- 9,270 9,270 1,515
S 346.766 S - S 172 S 1,276,300 S 1,856,641 S 137,019 S . S 3.9� 8�7 S 4,469,386
55
EXHIBIT B -3
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - FIRE AREA 1
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Property taxes
State sources - shared
revenue
Licenses, permits, fees
and other local revenues
Investments and property
Total revenues
Expenditures - general
administration:
Fire chief
Volunteers
Fringe benefits
Support costs
Capital outlay
Total expenditures
Excess (deficiency) of
revenues over expenditures
51,360
7,000
17,090
61,350
33.000
169.800
48,577
3,720
11,777
34,197
27.713
125.984
5.000 39.424
Operating transfers in - 1,472
Operating transfers (out) (5.000 (5.000
Net operating transfers (5.000 (3.528
Excess of revenues and operating
transfers in over expenditures
and operating transfers out L
Fund balance at beginning
of year
Fund balance at end of year
35,896
303.015
SS 3®
2,783 49,874
3,280 3,860
5,313 16,153
27,153 49,294
5.287 7.655
43.816 126.836
34.424 36.565
1,472 -
- (8.836
1.472
596 27,729 .
275.286
$ 303.015 _
1
56 1
1989
Variance
Favorable
1988
Budget
Actual
(Unfavorable)
Actual
$ 126,000
$ 130,341
$ 4,341
$ 126,298
8,790
8,787
(3)
9,577
20,010
6,300
(13,710)
7,840
20.000
19.980
(20
19.686
174.800
165.408
(9.392
163.401
51,360
7,000
17,090
61,350
33.000
169.800
48,577
3,720
11,777
34,197
27.713
125.984
5.000 39.424
Operating transfers in - 1,472
Operating transfers (out) (5.000 (5.000
Net operating transfers (5.000 (3.528
Excess of revenues and operating
transfers in over expenditures
and operating transfers out L
Fund balance at beginning
of year
Fund balance at end of year
35,896
303.015
SS 3®
2,783 49,874
3,280 3,860
5,313 16,153
27,153 49,294
5.287 7.655
43.816 126.836
34.424 36.565
1,472 -
- (8.836
1.472
596 27,729 .
275.286
$ 303.015 _
1
56 1
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - FIRE WOMENS'S BAY
STATEMENT OF REVENUES. EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Property taxes
State sources - shared revenue
Licenses, permits, fees
and other local revenues
Total revenues
Expenditures - general
administration:
Volunteers
Fringe benefits
Support costs
Communications
Supplies and materials
Community activities
Capital outlay
Total expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance at end of year
EXHIBIT B -4
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
$ 11,180 $ 5,944
1,010 993
7.200 6.806
19.390 13.743
$ (5,236) $ 5,810
(17) 1,010
(394 6.000
(5.647 12.820
800 -
2,400 -
20,350 18,770
600 420
750 -
100 -
4.600
29.600 19.190
S(10,21 (5,447)
17.044
S11,597
800
1,110
2,400
3,357
1,580
17,309
180
243
750
50
100
-
4.600
-
10.410 22.069
4.76 (9,249)
26.293
$
57
EXHIBIT B -5
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD MONASHKA BAY
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Property taxes
State sources - shared
revenue
Total revenues
Expenditures - capital
improvements - service
district maintenance:
Salaries
Repairs and maintenance
Snow removal
Road grading
Support -goods and services
Total expenditures
Excess of revenues over
expenditures
Fund balance at beginning
of year
Fund balance at end of year
300
1989
(239)
239
2,000
-
Variance
354
9,300
9,286
Favorable
1988
Bud eg t _
Actual
(Unfavorable)
Actual
3.840
$ 17,880
$ 18,103
$ 223
$ 17,831
4.260
4.258
(2
4.272
16.014
22.140
22.3
221
22.103
300
539
(239)
239
2,000
-
2,000
354
9,300
9,286
14
11,655
6,700
4,451
2,249
3,539
3.840
515
3.325
227
22.140
14.791
7.349
16.014
7,570 S �.5�70 6,089
13.096
566
7.007
S. lei
58
EXHIBIT B -6
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD DISTRICT 1
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Property taxes
State sources - shared revenue
Total revenues
Expenditures - capital
improvements - service
district maintenance:
Salaries
Repairs and maintenance
Snow removal
Road grading
Support -goods & services
Total expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance at end of year
20,811 31,374
S 2,719 $ 20,811
59
1989
Variance
Favorable
1988
Bud eg_t
Actual
(Unfavorable)
Actual
$ 16,375
$ 16,927
$ 552
$ 16,324
8,790
10,785
1,995
10,778
25,165
27,712
2,547
27,102
1,700
4,293
(2,593)
1,350
8,000
11,919
(3,919)
4,099
28,000
24,694
3,306
30,412
8,000
4,044
3,956
779
580
854
(274
1,025
46,280
45,804
476
37,665
$ (21,115
(18,092)
$ 3,023
(10,563)
20,811 31,374
S 2,719 $ 20,811
59
EXHIBIT B -7
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD WOMEN'S BAY
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Property taxes
State sources - shared
revenue
Licenses, permits, fees
and other local revenues
Total revenues
Expenditures - capital
improvements - service
district maintenance:
Staff salaries
Snow removal
Contracted services
Support -goods & services
Total expenditures
Excess (deficiency) of
revenues over expenditures
Fund balance at beginning
of year
Fund balance (deficit) at
end of year
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
$ 39,600
18,110
20.000
77.710
500
28,000
29,000
1.100
58.600
S
$ 35,706
$ (3,894)
$ 11,638
18,109
(1)
18,087
10.000
(10.000
10.000
63.815
(13.895
39.725
1,215
(715)
490
40,235
(12,235)
39,229
15,199
13,801
33,945
195
_9 05
111
56.844 1.756 73.775
6,971
(15.076
Ste
$ (�,139 (34,050)
18.974
S (�
60
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD BAY VIEW
STATEMENT OF REVENUES, EXPENDITURES_, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Property taxes
State sources - shared
revenue
Total revenues
Expenditures - capital improve-
ments - service district
maintenance:
Staff salaries
Snow removal
Road grading
Support -goods & services
Total expenditures
Excess of revenues over
expenditures
Fund (deficit) at beginning
of year
Fund balance (deficit) at
end of year
EXHIBIT B -8
174
1989
197
3,190 1,344
1,846
2,463
Variance
(607)
998
920 32
Favorable
1988
Bud eg_t
Actual
(Unfavorable)
Actual
2,008
$ 3,190
$ 3,251
$ 61
$ 3,190
920
914
(6
912
4,110
4,165
55
4,102
174
(174)
197
3,190 1,344
1,846
2,463
607
(607)
998
920 32
888
128
4,110 2,157
1,953
3,786
$�- 2,008
2,008
316
(907
(1,223
��
907)
61
EXHIBIT B-9
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
STATE GRANT PROGRAMS - MENTAL HEALTH CENTER
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
Revenues:
State sources:
Alaska Youth Initiative
Developmental Disability
Program
Health, Social and Community
Services Program
Other
Licenses, permits, fees
and other local revenues:
Organization user fees
Individual user fees
Miscellaneous
investments and property:
Rental fees
Interest
Total revenues
Expenditures - health and
sanitation - mental
health program:
Personnel
Travel
Facility
Supplies
Equipment
Other
Bad debts
Total expenditures
Excess (deficiency) of
revenues over expenditures
Operating transfers in
Operating transfers out
Met operating
Excess of (deficiency) revenues
and operating transfers in
over expenditures and
operating transfers out
Fund balance at beginning
of year
Fund balance at end of year
S 106,462
S 106,462
S -
S 99,898
234,500
234,500
-
218,900
475,300
475,300
-
321,184
45,050
45,050
-
34,460
184,060
196,076
12,016
178,191
199,750
224,890
25,140
157,863
230
220
(10)
112
60,000
60,000
-
12,000
4,810
10,377
5,567
4,959
1,310,162
1,352,875
42,713
1,027,567
1,080,765
996,353
84,412
869,079
33,130
22,550
10,580
22,670
125,385
123,676
1,709
57,747
75,552
71,166
4,386
47,989
21,350
18,454
2,896
18,173
139,980
136,806
3,174
132,460
4,877
1,476,162
1,369,005
107,157
1,152,995
(166,000
(16,130
149,870
(125,428
140,000
144,068
4,068
140,000
-
(7,036
140,000
144,068
4.068
132,964
SS (�
127,938
SS 153.938
7,536
218,828
536,766
211,292
ff
2 18 828
62
EXHIBIT B -10
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS - MENTAL HEALTH CENTER
SCHEDULE OF EXPENDITURES
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
1989
Variance
Favorable
Budget Actual Unfavorable)
Expenditures - Alaska Youth
Initiative:
Personnel
$ 67,520
$ 73,836
$ (6,316)
Travel
2,140
1,285
855
Facility
11,300
11,915
(615)
Supplies
12,522
11,216
1,306
Equipment
-
-
-
Other
12.980
9.915
3.065
106.462
108.167
(1.705
Expenditures - Developmental
Disability Program (06- 9016):
Personnel
186,810
159,600
27,210
Travel
1,500
1,278
222
Facility
27,790
28,569
(779)
Supplies
35,130
29,031
6,099
Equipment
7,000
7,275
(275)
Other
45.200
44.684
516
303.430
270.437
32.993
Expenditures - Health, Social
and Community Services
Program (06- 9208):
Personnel
826,435
762,917
63,518
Travel
29,490
19,987
9,503
Facility
86,295
83,192
3,103
Supplies
27,900
30,919
(3,019)
Equipment
14,350
11,179
3,171
Other
81.800
82.207
(407
1.066.270
990.401
75.869
Total Expenditures
51,4 76.162
$1,369,005
S 1
63
EXHIBIT B -11
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FEDERAL AND STATE GRANT PROGRAMS - ENERGY
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
State sources:
Community and regional
affairs grant 1988
Community and regional
affairs grant 1989
Total revenues
Expenditures - planning and
community development:
Planning and zoning
Deficiency of revenues
over expenditures
Fund balance at beginning
of year
Fund balance at end of year
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
$ 180
22.000
22.180
$ 180
22.000
22.180
$ - $ 32,220
32.220
22.180 22.180
32.220
64
EXHIBIT B -12
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FEDERAL AND STATE GRANT PROGRAMS - DAY CARE
STATEMENT OF REVENUES EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues - State
sources
Expenditures - health and
sanitation - day care
payments
Deficiency of revenues over
expenditures
Fund balance at beginning
of year
Fund balance at end
of year
1989
Variance
Favorable 1988
Bud eg t _ Actual (Unfavorable) Actual
$ 239,330 $ 232,720 $ (6,610 $ 199,215
239,330 232,949 6,381 199,215
$ -- (229) ,5.(22 -
401
172
401
S 401
65
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS - EDUCATION
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
State sources
Federal sources
Licenses, permits, fees
and other local revenues:
Food sales
Pupil activities
Other local revenues
Total revenues
Expenditures:
Education support:
Regular instruction
Vocational education
instruction
Correspondence study
instruction
Special education
instruction
Gifted and talented
instruction
Bilingual/bicultural
instruction
Pupil support
School administration
District administration
Operation and maintenance
Food services
Community services
Pupil activities
Pupil transportation
Total expenditures
Excess of revenues over
expenditures
Operating transfers in
Operating transfers out
Net operating
transfers
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
$17,218,418 $17,546,005 $ 327,587 $17,423,440
1,129,170 1,005,261 (123,909) 788,491
103,300 124,004
7,000 6,260
58.535 63.005
18.516.423 18.744.535
20,704 98,086
(740) 6,738
4.470 53.091
228.112 18,369.846
6,850,228 6,528,235
774,377
739,308
133,604
133,129
1,627,722
1,509,040
144,136
141,350
205,134
201,614
879,731
834,792
1,070,794
1,024,641
964,553
892,293
2,639,787
2,589,257
253,185
263,807
21,583
19,464
407,912
379,890
446.600
441,192
16.419.346 15.698.012
2.097,077 3.046.523
2,142,500 2,100,000
(4.771.107 (4.998.365
(2.628.607 (2,898.365
321,993 6,458,663
35,069 670,765
475 126,258
118,682 1,533,006
2,786 137,578
3,520
157,152
44,939
723,686
46,153
1,013,907
72,260
944,296
50,530
2,612,997
(10,622)
248,459
2,119
21,317
28,022
373,484
5.408
4 41,314
721.334 15.462.882
949.446 2,906.964
(42,500) 2,109,375
(227,258 (4,524,896
(269.758 (2.415.521 ,
66
EXHIBIT B -13
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS - EDUCATION
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Excess (deficiency) of
revenues and operating
transfers in over
expenditures and
operating transfers out
Fund balance at beginning
of year
Adjustment to reserve for
fuel inventory
Fund balance at end of year
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
$ (5 = ) $ 148,158
1,118,872
9.270
276, 300
$$ 6 $ 491,443
625,914
1.515
$1.1
37
EXHIBIT B -14
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
LAND SALES
STATEMENT OF REVENUES. EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
State Sources - Grants
Land sale proceeds
Licenses, permits, fees
and other local revenues:
Penalty and interest
Permit fees
Gravel sales
Investment income
Total revenues
Expenditures:
Planning and community
development:
Land management
Capital improvements:
General:
Survey and appraisal
Support costs
Total expenditures
Excess of revenues
over expenditures
Operating transfers in
Operating transfers out
Net operating transfers
Excess (deficiency) of
revenues over expenditures
and operating transfers
out
Fund balance at beginning
of year
Fund balance at end of year
15,500
1989
9,477
3,928
82,590
44,633
Variance
4,979
98.090
50.656
Favorable
1988
Budget
Actual
(Unfavorable)
Actual
300,000
$ -
$ 21,980
$ 21,980
$ -
308,500
377,586
69,086
588,547
1,000
492
(508)
931
10,000
10,000
-
20,000
35.000
24.422
(10.578
34.888
46,000
34,914
(11,086)
55,819
60.000
145.148
85.148
102.885
414.500
579.628
165.128
747.251
15,500
6,023
9,477
3,928
82,590
44,633
37,957
4,979
98.090
50.656
47.434
8.907
316,410
528,972
212,562
738,344
300,000
300,000
-
-
(1.737.710
(1.737.710
-
(52.680
(1.437.710
(1.437.710
-
(52.680
$(1.121.300
68
(908,738) $ 212.562
2.765.379
$ 1.856.641
685,664
,
2,079,715
$2,7�,379
'
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
BUILDINGS AND GROUNDS
STATEMENT OF REVENUES. EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Investments and property:
Rental
Interest income
Miscellaneous income
Total revenues
Expenditures:
General administration:
School buildings
Borough building
Apartments
Refuse collection
and disposal
Parks operation
and maintenance
Total expenditures
Excess (deficiency) of
revenues over expenditures
Operating transfers in
Excess of revenues and operating
transfers in over expenditures
Fund balance at beginning of year
Fund balance at end of year
EXHIBIT B -15
1989
Variance
Favorable 1988
Budget Actual (Unfavorable) Actual
$ 283,330
$ 278,962
$ (4,368)
$ 273,876
-
-
-
1,069
325
325
27.205
283.330
279.287
(4.043
302.150
435,100
315,885
119,215
313,576
219,320
230,828
(11,508)
176,915
54,010
48,677
5,333
14,828
15,500
15,589
(89)
13,934
5.500
5.312
188
5.923
729.430
616.291
113.139
525.176
(446,100)
(337,004)
109,096
(223,026)
446.100
446.100
-
300.000
S
109,096
SS 1
76,974
27.923
(49.051
$ 137,019
Sri
69
Expenditures:
Personnel services
Fringe benefits
Support goods and services
Capital outlay
Legal fees
Total expenditures
Excess of revenues over
expenditures
Fund balance at beginning
of year
Fund balance at end of year
156,386
18,640
750,000 887,086
250,000 18,840
2.953
1.000.000 1.083.905
(156,386) -
(18,640) -
(137,086) -
231,160 -
(2.953 -
(83.905 -
70
EXHIBIT B -16
KODIAK ISLAND BOROUGH
"
OIL SPILL CLEANUP
STATEMENT
OF REVENUES. EXPENDITURES.
AND
CHANGES IN
FUND BALANCE - BUDGET AND
ACTUAL
YEAR
ENDED JUNE 30, 1989
1989
Variance
Favorable 1988
,
Budget Actual (Unfavorable)
Actual
s
Revenues:
Exxon reimbursement $
500,000 $ 1,013,079
$ 513,079 $ -
State sources - DEC grant
500.000 70.826
(429.174 -
Total revenues
1.000.000 1.083.905
83.905 -
Expenditures:
Personnel services
Fringe benefits
Support goods and services
Capital outlay
Legal fees
Total expenditures
Excess of revenues over
expenditures
Fund balance at beginning
of year
Fund balance at end of year
156,386
18,640
750,000 887,086
250,000 18,840
2.953
1.000.000 1.083.905
(156,386) -
(18,640) -
(137,086) -
231,160 -
(2.953 -
(83.905 -
70
DEBT SERVICE FUND
These funds were established to finance and account for the payment of interest and
principal on all general obligation debt, serial and term, other than that payable
exclusively from special assessments and revenue debt issued for and serviced by a
governmental enterprise. Formerly called a Sinking Fund.
SCHOOL BONDS DEBT SERVICE FUND
This fund accounts for the accumulation of money for payment of principal, interest
and fiscal agent fees related to serial bond debt incurred by the Borough to construct
schools.
OTHER DEBT SERVICE FUND
{
This fund accounts for the accumulation of money to pay the long -term portion of the
Borough's vested accrued annual leave.
EXHIBIT C -1
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
ASSETS
Cash and investments:
Equity in central treasury
Temporary cash investments
Cash with fiscal agent
Receivable from State of Alaska
Accrued interest receivable
LIABILITIES AND FUND BALANCES
Other
Fund balances - designated for
subsequent year expenditures
Totals
School Bonds Other 1989 1988
$ 131,277 $ 136,480 $ 267,757 $1,117,275
4,530,522 - 4,530,522 4,473,809
648,922 - 648,922 1,445,913
448,618 - 448,618 118,108
50.217 50.217 71.084
S5.809.556 S 1� 3 55.96. ®� S7.2
$ 307
$ -
$ 307
$ 785
5.809.249
136.480
5.945.729
7.225.404
$5,809,556
SS 136,480
$5.946.036
$7.226.189
72
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
investments and property -
interest income
Total revenues
Expenditures - debt service:
Principal
Interest
Fiscal agent fees
Other
Total expenditures
Excess (deficiency) of revenues over
expenditures
Other financing Sources (uses):
Proceeds of bond sales
Accrued interest
Bond premium
Purchase of restricted escrow
Underwriters discount
MBIA insurance
Other
Total other financing
sources (uses)
Operating transfers in:
General Fund
Special Revenue Funds:
Mental Health Center
Education
Capital Projects Fund
Total operating transfers in
Operating transfers out:
General Fund
Special Revenue Fund:
Fire Service District Area 1
Mental Health
Total operating transfers out
Net operating transfers
Excess (deficiency) of revenues,
other financing sources and
operating transfers in over
expenditures, other financing
uses and operating transfers out
Fund balances at beginning of year
Fund balances at end of year
EXHIBIT C•2
- 7,036
4,996,378 4,996,378 4,415,521
- 90,000
4,996,378 5,004,975 4,812.557
16,664
• 1,472
Totats
4,068
4,068
School Bonds Other
1989
1988
4,999.435 4,794,729
S 305,707 S
S 305,707
S 488,470
305,707
305,707
488,470
5,135,834
5,135,834
3,785,834
1,396,688
1,396,688
1,546,117
66,030
66,030
148,874
(13,735
(13,735
477
6,584,817
6.584,817
5,481,302
(6,279.110
(6,279,110
(4.992,832
10,000,000
10,000,000
94,265
94,265
20,613
20,613
(9,865,100)
(9,865,100)
-
(134,000)
(134,000)
(62,000)
(62,000)
(53,778
(53,778
- 8,597
8,597
300,000
- 7,036
4,996,378 4,996,378 4,415,521
- 90,000
4,996,378 5,004,975 4,812.557
16,664
• 1,472
1,472 1,164
4,068
4,068
- 5,540
5.540 17,828
4.996.378 3,057
4,999.435 4,794,729
(1,282,732)
3,057
(1,279,675)
(198,103)
7.091.981
$ 133,423
7,225.404
7.423,507
S 5,809,249
S 136,480
S 5,945,729
S 7,225,404
73
EXHIBIT C-3
Revenues:
Investments and property -
interest income
Total revenues
Expenditures - debt service:
Principal
Interest
Fiscal agent fees
Other
Total expenditures
Excess (deficiency) of
revenues over expenditures
Other financing sources (uses):
Proceeds of bond sales
Accrued interest
Bond premium
Purchase of restricted escrow
Underwriters discount
MBIA insurance
Other
Total other financing
sources (uses)
Operating transfers in:
General Fund
Education Special Revenue
Fund
Hospital Debt Service
Fund
Capital Projects Fund
Total operating
transfers
Excess (deficiency) of
revenues, other financing sources
and operating transfers in over
expenditures and other financing
uses
Fund balance at beginning
of year
Fund balance at end of year
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
SCHOOL BONDS
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Variance
Favorable
Budget Actual (Unfavorable)
$ 207,180 $ 305,707 S 98,527
207.180 305,707 98.527
1989
5,385,840
1,542,190
158,470
43.500
7.130.000
5,135,834
1,396,688
66,030
(13.735
6,584,817
250,006
145,502
92,440
57.235
545.183
1988
Actual
$ 488.470
488.470
3,785,834
1,546,117
148,874
477
5,481.302
(6.922,820 (6,279.110
643.710 (4,992,832
- 10,000,000
10,000,000
- 94,265
94,265 -
- 20,613
20,613 -
- (9,865,100)
(9,865,100) -
- (134,000)
(134,000) -
- (62,000)
(62,000) -
(53,778
(53,778
300,000
4,826,220 4,996,378 170,158 4,415,521
90.000
4.826.220 4.996.378 170.158 4,805.521
S(2,0� (1,282,732) SS 813,868 (187,311)
7,091,981
S 5,809,249
7.279,292
S 7,0� 9�1
74
CAPITAL PROJECTS FUNDS
This fund was created to account for all resources used for the acquisition of
designated fixed assets by a governmental unit except those financed by special
assessment and enterprise funds.
VARIOUS BOROUGH PROJECTS
This fund accounts for a variety of capital projects not accounted for in another fund,
including projects financed by the State of Alaska Municipal Aid Program.
' SCHOOL BOND IMPROVEMENTS
This fund accounts for the proceeds of the Borough general obligation bonds issued for
' the construction of schools.
SCHOOL EQUIPMENT AND FURNISHINGS
' This fund accounts for money transferred to the Kodiak Island Borough School District
from other Capital Projects Funds for the acquisition of school equipment and
furnishings.
STATE CAPITAL GRANTS
This fund accounts for capital grant monies received from the State of Alaska for the
construction of various projects.
SCHOOL MAJOR MAINTENANCE
This fund accounts for money transferred from the Land Sales Fund for the major repairs
and maintenance of school buildings.
11
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1989
WITH COMPARATIVE FIGURES FOR 1988
76
School
Various
Equipment
Borough
School Bond
and
Projects
Improvements
Furnishings
ASSETS
Cash and investments:
Equity in central treasury
$ -
$ 91,001
$ -
Temporary cash investments
955,433
721,039
-
Other cash and cash equivalents
-
4,641
-
Receivables:
City of Kodiak
-
-
'
Other
9,282
-
State of Alaska
12,698
-
-
Accrued interest
-
3,762
-
Due from other funds
-
-
70,380
SS 9�.413,
$ 8� 20,443
$ 7 0,380
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
$ 809
$ 119,394
$ 15,270
Retainages payable
1,000
86,932
-
Deferred revenue
185,998
-
-
General obligation demand
bonds payable
-
550,000
-
Due to other funds
163,807
-
-
Total liabilities
351,614
756,326
15,270
Fund balances:
Reserved for encumbrances
8,205
314,568
29,853
Unreserved - designated for
subsequent year expenditures
617,594
-
25,257
Undesignated
-
(250,451
-
Total fund balances
625,799
64,117
55,110
$ 997 3
1_.I20 ..
S�70�380�
76
EXHIBIT D -1
State
School
Totals
Capital
Major
Grants
Maintenance
1989
1988
$ 65,892
$ 113,433
$ 270,326
$2,321,177
200,000 ✓
1,052,732
2,929,204
6,129,654
-
-
4,641
-
-
-
9,282
9,282
198,908 ✓
-
211,606
55,676
4,011 ✓
3,875
11,648
221,610
163,807
234,187
243,481
$$ 632,6188
$1,170,040
S3,670,894
8.980,880
$ 106,514
$ -
$ 241,987
$ 258,663
-
-
87,932
439,323
588,781
-
774,779
1,266,532
-
-
550,000
2,750,000
163,807
1,012,499
695,295
1,818,505
5,727,017
184,603
-
537,229
5,185,715
-
-
642,851
1,791,106
(247,280
1,170,040
672,309
(3,722,958
(62,677
1,170,040
1,852,389
3,253,863
5632,618
1,170,040
53,670 894
58,980 880
77
KODIAK ISLAND
BOROUGH
I
E
,
CAPITAL PROJECTS
FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
YEAR ENDED JUNE
30, 1989
WITH COMPARATIVE TOTALS FOR 1988
'
{
Various
Borough
School Bond
Projects
Improvements
'
Revenues:
a
State sources
$ -
$ 8,918
'
Licenses, fees, permits and
other local revenues
-
-
Investments and property
14,173
153,185
Insurance proceeds
-
366,904
'
Asbestos settlement
-
647,480
14,173
1,176,487
'
Expenditures:
Capital improvements:
Schools
-
4,591,916
'
General
1,418,209
-
P
Total expenditures
1,418,209
4,591,916
'
Excess (deficiency) of revenues
over expenditures
(1,404,036
(3,415,429
'
Other financing sources (uses):
Demand bond principal payments
2,200,000
Operating transfers in
1,639,690
700,000
'
Operating transfers out
(300,000
(350,000
Net other financing sources (uses)
1,339,690
2,550,000
,
Excess (deficiency) of revenues and other
financing sources over expenditures and
'
other financing uses
(64,346)
(865,429)
Fund balances at beginning of year
690,145
929,546
,
Fund balances at end of year
S5 L5
Ste_
L
78
,
EXHIBIT D -2
School
Equipment
and
Furnishings
State School
Capital Major
Grants Maintenance
Totals
1989 1988
$ 948,282 $ - $ 957,200 $ 1,280,557
11,083 - 11,083 5,000
42,687 84,467 294,512 656,973
- - 366,904 1,414,685
647,480 634,061
1,002,052 84,467 2,277,179 3,991,276
233,091 - - 4,825,007 7,595,506
990,464 2,408,673 1,779,220
233,091 990,464 - 7,233,680 9,374,726
(233,091 11,588 84,467 (4,956,501 (5,383,450
- - - 2,200,000 2,050,000
51,987 313,350 - 2,705,027 893,512
- (700,000 - (1,350,000 (913,803
51,987 (386,650 - 3,555, M 2,029,709
(181,104)
(375,062)
84,467
(1,401,474)
(3,353,741)
236,214
312,385
1,085,573
3,253,863
6,607,604
555,110
$ (�62 6777
51,170 040
$1,852,389
$ 3,253.863
79
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
SCHEDULE OF CAPITAL PROJECTS
YEAR ENDED JUNE 30, 1989
Total Capital Projects S27.046.408 S 1.076.900 S 10.390 $ 846.134 S28.979.832
Aoorovriations
Transfers
(To) From
Protect
Prior
1989
Protects
Funds
Aoorooriation
School Buildings
45 -211 Hi Sch (Kod) Noise Abam't
$ -
$ -
$ 10,000
$ -
$ 10,000
45 -212 Landscaping - Port Lions
-
-
15,000
-
15,000
45 -214 School Drawings - as Built
-
-
15,000
-
15,000
45 -283 HS Handicap, Code, Roof
1,825,620
-
23,000
-
1,848,620
45 -284 Larsen Bay School
1,869,850
100,000
1,950
(115,000)
1,856,800
45 -285 Peterson Elementary
594,990
-
-
(130)
594,860
45 -286 East Elementary School
3,010,808
-
141,750
75,817
3,228,375
45 -287 Old Harbor School
1,846,140
60,000
(11,310)
312,040
2,206,870
45 -288 Port Lions School
2,046,140
-
(88,640)
1,957,500
45 -289 Port Lions School Gym
1,921,579
-
-
1,921,579
Other School Projects
44 -200 Asbestos Abatement Grant
-
-
-
70,000
70,000
44 -253 Asbestos Removal Program
-
-
80,000
-
80,000
44 -202 Work of Art - Auditorium
33,090
-
-
-
33,090
44 -278 Landscaping
10,000
-
-
-
10,000
44 -341 School Site Acquisition
-
-
-
400,000
400,000
44 -342 School Improvements - Var.
-
-
(70,000)
90,000
20,000
44 -261 Kodiak Hi. School Lockers
-
-
35,000
-
35,000
44 -262 Painting - Main Elementary
-
-
35,000
-
35,000
Other Structures
47 -187 Hospital Construction
923,810
-
-
-
923,810
47 -189 Hospital Design 4 Develm't
1,000,000
-
-
-
1,000,000
47 -253 Asbestos Removal Project
2,815,000
-
-
-
2,815,000
Parks Development i Land Mgmt.
44 -254 Park Development
215,000
-
-
-
215,000
44 -290 Park Development (New)
-
30,000
4,950
-
34,950
44 -291 City Camp Ground
-
18,000
10,390
-
28,390
Road and Land Improvements
44 -201 Sergeant Creek Road
940,000
-
-
(185,998)
754,002
44 -205 Woman's Bay Paving
-
-
-
185,998
185,998
44 -281 Chiniak Subdivision
700,000
-
(10,230)
(300,000)
389,770
44 -329 Bayside Paving
-
29,000
-
5,300
34,300
44 -340 Middle Bay Paving
-
450,000
10,230
130,000
590,230
47 -177 Chiniak Emergency Bldg.
100,000
-
-
-
100,000
47 -186 Hospital Heli -pad
250,000
-
-
-
250,000
47 -255 Lakeside Improvement
2,709,640
-
-
-
2,709,640
47 -257 Lilly Drive - Phase II
1,101,866
-
(590,500)
(178,866)
332,500
47 -263 Solid Waste Facility
3,135,000
-
-
152,618
3,287,618
47 -265 Sharatin Road
-
-
590,500
-
590,500
Other -
44 -208 Smokay s Clean Up
-
-
-
42,000
42,000
44 -242 Karluk Lake Fertilization
-
60,000
-
-
60,000
44 -292 Homeless Construction
-
25,000
-
-
25,000
44 -293 Airport Feasibility
-
40,000
-
-
40,000
44 -294 Reef (Shoal) Removal
-
100,000
-
-
100,000
44 -295 King Crab - RFP
-
50,000
-
-
50,000
44 -315 Bayside Fire Equipment
20,000
-
-
10,000
30,000
47 -296 Benny Benson Pathway
-
34,900
-
12,082
46,982
Undesignated -
44 -209 Undesignated
4,950
-
(4,950)
-
-
45 -209 Undesignated Projects
106,750
80,000
(186,750)
-
-
47 -209 Undesignated Projects
(133.825
-
-
140.273
6.448
Total Capital Projects S27.046.408 S 1.076.900 S 10.390 $ 846.134 S28.979.832
EXHIBIT D -3
Expenditures
Unencumbered
Total
Unexpended
Current
Balance
Prior
1989
Expenditures
Balance
Encumbrances
(Available)
$ _
$ -
$ -
$ 10,000
$ -
$ 10,000
-
189
189
14,811
-
14,811
_
_
-
15,000
-
15,000
393,649
1,454,971
1,848,620
-
-
1,840,934
15,866
1,856,800
-
-
24,463
102
24,565
570,295
-
570,295
2,727,780
500,595
3,228,375
-
-
269,939
1,757,972
2,027,911
178,959
314,568
(135,609)
1,740,516
216,984
1,957,500
-
-
1,276,342
645,237
1,921,579
-
-
-
59,052
59,052
10,948
700
10,248
-
30,494
30,494
49,506
6,205
43,301
_
_
-
33,090
-
33,090
5,015
4,985
10,000
-
-
-
-
940
940
399,060
-
399,060
_
-
-
20,000
-
20,000
-
493
493
34,507
-
34,507
-
1,511
1,511
33,489
600
32,889
741,339
134,329
875,668
48,142
95,260
(47,118)
746,006
119,222
865,228
134,772
73,715
61,057
2,736,602
-
2,736,602
78,398
-
78,398
214,183
817
215,000
-
-
-
-
34,950
34,950
-
-
-
28,390
28,390
-
-
-
754,002
-
754,002
-
-
-
-
185,998
185,998
-
-
5,545
209,341
214,886
174,884
-
174,884
-
34,300
34,300
-
-
590,068
590,068
162
-
162
0
11,623
11,623
88,377
4,753
83,624
2,189
94,573
96,762
153,238
5,910
147,328
1,971,811
570,858
2,542,669
166,971
4,967
162,004
326,606
5,894
332,500
-
-
-
3,287,618
-
3,287,618
-
-
-
-
6,983
6,983
583,517
-
583,517
-
28,179
28,179
13,821
-
13,821
-
60,000
60,000
-
-
-
-
25,000
25,000
-
-
-
22,290
22,290
17,710
-
17,710
-
100,000
100,000
-
-
-
474
474
49,526
-
49,526
-
927
927
29,073
700
28,373
-
46,982
46,982
-
-
6,448
6,448
-
-
'
S19.070,987
S 7,000,589
S26.071,576
L 2,908,256
S 507,378
S 2,400,878
81
ENTERPRISE FUNDS
These funds were established to finance and account for the acquisition, operation and
maintenance of governmental facilities and services which are entirely or predominantly
self- supporting by user charges.
SANITARY SERVICES FUND
This fund accounts for all activity of the Borough owned sanitary landfill and garbage
collection utility.
WATER ENTERPRISE FUND
This fund accounts for all activity of the Borough owned and operated water utility.
SEWER ENTERPRISE FUND
This fund accounts for all activity of the Borough owned and operated sewer utility.
' HOSPITAL ENTERPRISE FUND
This fund accounts for all activity of the Kodiak Island Borough Hospital. The
Hospital is a component unit of the Kodiak Island Borough. The Hospital is operated
on behalf of the Borough by the Lutheran Hospitals and Homes Society of America.
KODIAK ISLAND BOROUGH
4
ENTERPRISE FUNDS
COMBINING BALANCE
SHEETS
YEAR
ENDED JUNE 30, 1989
'
WITH COMPARATIVE TOTALS FOR 1988
ASSETS
,
Totals
g
Sanitary
Water
Sewer
Services
Utility
Utility
Hospital
1989
1988
,
Current assets:
Equity in central treasury
S 3a� 6,053
S 2,640
S
S
S 8,693
S 45,266
Temporary investments
1\ u 3 -
250,000
250,000
200,000
Due from other funds
16,580
-
16,580
Other cash and cash equivalents
-
2,524,150
2,524,150
231,508
22,633
252,640
2,524,150
2,799,423
476,774
{
Receivables:
Customers and patients
11,601
29,470
52,344
2,022,470
2,115,885
1,530,061
Lutheran Hospitals and
3
Homes Society of America
-
-
283,141
City of Kodiak
-
103,749
103,749
6,251
Third party patient payors
-
27,000
27,000
178,947
State revenue sharing
-
-
-
-
-
87,500
11,601
29,470
52,344
2,153,219
2,246,634
2,085,900
Less allowance for
doubtful receivables
(4,641
(4,641
(450,000
(459,282
(255,283
Net receivables
11,601
24,829
47,703
1,703,219
1,787,352
1,830,617
e
Prepaid expenses
-
-
100,699
100,699
-
Inventories at cost
-
190,883
190,883
173,803
291,582
291,582
173,803
Total current assets
34,234
277.469
47,703
4,518,951
4,878,357
2,481,194
Restricted assets:
,
Equity in central treasury
-
-
-
180,127
Temporary investments
238,191
238,191
-
476,382
Interest receivable
4,658
4,658
-
9,316
-
Receivable from State of Alaska
-
367,813
Total restricted assets
242,849
242,849
485,698
547,940
Borough designated investment
-
-
-
638,658
638,658
810,397
Long-term receivable from
Lutheran Hospitals and
Homes Society of America
-
1,846,000
y
-
-
638,658
638,658
2.656,397
Fixed assets, at cost:
'
Unclassified utility plant
in service
2,332,173
5,671,796
9,870,603
-
17,874,572
17,874,571
'
Hospital building and
fixed equipment
-
-
4,186,825
4,186,825
4,012,091
Major movable equipment
243,970
1,689,517
1,933,487
1,634,372
2,576,143
5,671,796
9,870,603
5,876,342
23,994,884
23,521,034
Less accumulated depreciation
(126,636
(536,136
(700,711
(2,322,450
(3,685,933
(3,061,592
2,449,507
5,135,660
9,169,892
3,553,892
20,308,951
20,459,442
Construction work in progress
61.185
48,422
109,607
87,897
Net fixed assets
2,449,507
5,196,845
9,218,314
3,553,892
20,418,558
20,547,339
$ 2.483 741
S 5,717,163
S 9�
S 8,711,501
$26,421,271
S26,2�70
E
t
84
,
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING BALANCE SHEETS
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
EXHIBIT E-1
LIABILITIES AND FUND EQUITIES
Totals
Sanitary Water Sewer
Services Utility Utility Hospital 1989 1988
Liabilities:
Payable from current assets:
Accounts payable
Due to other funds
Customer deposits
Accrued compensation
other accrued liabilities
S 65,828 S 22,546 S 2,240 S 38,233 S 128,847 S 52,000
- 10,525 10,525 -
- 11,655 - - 11,655 7,301
5,957 - 341,185 347,142 240,451
20.975 20,975 5.967
71.785 34,201 12,765 400.393 519.144 305.719
Payable from restricted assets:
Due to other funds
Contracts payable
Retainage payable
Total restricted liabilities
Total liabilities
Fund equities:
Contributions in aid
of construction:
City of Kodiak
State of Alaska
Federal government
Kodiak Island Borough
Less amortization of contributions
in aid of construction
Net contributions in
aid of construction
Retained earnings:
Undesignated
Total fund equities
3,028 3,027 6,055 -
- - 19,995
40.651
3.028 3,027 A-nS5 60.646
71.785 37.229 15,792 400,393 525,199 366.365
-
189,166
40,000
229,166
229,166
2,412,453
5,531,694
9,679,668
-
17,623,815
17,613,583
-
200,000
2,237,104
2,437,104
2,437,104
-
1,439.928
1,439,928
1.426,166
2,412,453
5,720,860
9,919,668
3,677,032
21,730,013
21,706,019
(124.400 (536,112
(700.638
(1.361,150
(950.597
2.288,053
5,184,748
9.219.030
3,677,032
20.368,863
20.755,422
123,903
495.186
274.044
4.634.076
5,527.209
5,111.083
2.411.956
5.679.934
9.493,074
8,311.108
25.896.072
25.866,505
S 2,483J41
S 5.717,163
S 9� 5
S 8,711,501
$26.421,271
$2623
85
EXHIBIT E-2
Revenues:
Water sales
Sewer service charges
Refuse collection
Sanitary services user fees
Patient revenues
Installation charges
Other
Total revenues
Operating expenses:
Waste collection
Personal services
Purchased water and sewer treatment
Contracted services
Repairs and maintenance
Depreciation
Installation costs
Professional care of patients
Plant operations and household
General administrative
Other
Total operating expenses
Operating income (loss)
Other income:
Interest income
Other, primarily State of
Alaska revenue sharing
Earnings (loss) before operating
transfers
Operating transfers in
Operating transfers out
Net operating transfers
Net earnings (loss)
Amortization of contributions
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES. EXPENSES
AND CHANGES IN RETAINED EARNINGS
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Sanitary Water Sewer
Services Utility Utility Hospital
Totals
1989 1988
s -
$ 182,051
S . $
-
$ 182,051
$ 172,875
-
-
230,147
-
230,147
216,125
503,569
-
-
-
503,569
-
162,207
-
Retained earnings at end of year S
-
162,207
449,488
-
-
6,105,723
6,105,723
6,087,580
-
2,348
-
-
2,348
33,014
317
17,242
3.248
186.270
207.077
103.333
666.093
201.641
233.395
6,291,993
7,393.122
7,062.415
609,171
-
-
-
609,171
-
223,343
40,786
36,543
-
300,672
149,729
•
111,604
170,269
-
281,873
216,890
-
-
-
-
-
487,465
-
17,292
25,633
42,925
41,463
70,544
108,157
239,647
299,331
717,679
626,269
•
-
1,912
-
1,912
27,112
-
-
-
3,109,657
3,109,657
2,704,084
-
-
-
592,110
592,110
906,166
•
-
-
1,899,789
1,899,789
1,580,947
112.343
5,242
20.261
434,071
571.917
116.435
1.015.401 283.081 494,265 6.334,958 8.127.705 6,856,560
(349,308 (81.440 (260.870 (42,965 (734,583 205,855
1,206 26,196 10,554 242,406
133.434
1.206 26.196 10.554 375.840
(348.102 (55.244 (250.316 332,875
335,000 - -
335.000
(13,102) (55,244) (250,316) 332,875
in aid of construction
69.426
335,000
108,148
-
Increase (decrease) in retained
335.000
185.000
14,213
756,889
earnings
56.324
52.904
t
Retained earnings at beginning of year
67.579
442.282
Retained earnings at end of year S
123,903
$ 495,186
280,362
133,434
413,796
22,933
343,101
366.034
(320.787
571.889
335,000
290,000
-
(105,000
335.000
185.000
14,213
756,889
n
224,339
401,913
358,502
-
(25,977 332.875
416,126
1,115,391
300,021 4,301,201
5,111,083
3,995,692
t
E 274,044 $4,634,076
$5,527,209
$5,111,083
86 1
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Sources of working capital:
Operations:
Net earnings (loss)
Loss on sale of equipment
Depreciation which does not
use working capital
Working capital provided from
(used by) operations
State of Alaska grants
Contribution from Kodiak Island
Borough General Fund for
purchase of equipment -
Net decrease in restricted assets
Total sources of working capital
Uses of working capital:
Acquisition of fixed assets
Increase in long-term receivable
Funding of Borough designated
investments
Net decrease in current liabilities
payable from restricted assets
Total uses of working capital
Increase (decrease) in working capital
EXHIBIT E•3
Totals
Sanitary Water Sewer
Services Utility Utility Hospital 1989 1988
S (7,144) S (55,244) S (250,316) S 332,875 S 20,171 S 756,889
- 15,966 15,966 -
70.544 108.157 239.647 299.331 717.679 626.269
63,400 52,913 (10,669) 648,172 753,816 1,383,158
- - 1,592 1,592 4,225,017
- - 13,762 13,762 43,315
31.121 31.121 2.017,739 2.079.981 541,117
63,400 84.034 22.044 2.679,673 2,849,151 6.192,607
141,330 14,381 15,970 433,183 604,864 4,382,255
- 728,000
- 50,263
27,295 27,296 54.591 453,639
141.330 41.676 43.266 433,183 659.455 5,614,157
S (77,930 S 42J58 5521 X 222 ) $2,246,490 $2,189,696 $ 578,450
Changes in components of working capital:
Increase (decrease) in current assets:
Other cash and cash equivalents
S
S 50,000
S -
S2,292,642
52,342,642
S 431,508
Equity in central treasury
(2,949)
(4,217)
(23,352)
-
(30,518)
(115,573)
Receivables
(11,934)
15,801
2,239
(49,370)
(43,264)
245,566
Inventories
-
17,080
17,080
27,559
Prepaid expenses
100.699
100,699
-
(14,883
61,584
(21,113
2,361,051
2,386.639
589,060
(Increase) decrease in current liabilities:
Due to other funds
-
-
2,601
Bank overdraft
-
-
-
-
9,710
Accounts payable
(65,383)
(14,872)
(109)
3,517
(76,847)
2,994
Customer deposits
-
-
3,205
Accrued liabilities
2.336
(4.354
(118.078
(120,096
(29,120
(63.047
(19.226
(109
(114.561
(196,943
(10.610
Increase (decrease) in working capital
S (77,930
S 42,358
S (� 22
$2,246,490
52,189,696
5 578,450
87
EXHIBIT E -4
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
ASSETS
1989
1988
Current assets:
Equity in central treasury
$ 22,633
$ 25,582
Customer receivables
11.601
23.536
Total current assets
34.234
49.118
Fixed assets, at cost:
Unclassified plant in service
2,332,173
2,332,173
Major movable equipment
243.970
102.640
2,576,143
2,434,813
Less accumulated depreciation
(126.636
(56.092
Net fixed assets
2.449.507
2.378.721
52.483741
$2.4 27.839
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Accounts payable
$ 65,828
$ 445
Accrued compensation
5.957
2.336
Total current liabilities
71.785
2.781
Fund equities:
Contributions in aid of construction -
State of Alaska
2,412,453
2,412,453
Less amortization of contributions
in aid of construction
(124.400
(54.974
2,288,053
2,357,479
Retained earnings, undesignated
123.903
67.579
52.4
52.4
88
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
1989
Revenues:
Refuse collection
Sanitary services user fees
Other
Total revenues
Operating expenses:
Waste collection
Waste Disposal:
Personal services
Contracted services
Support-goods and services
Baler support costs
Sanitary services
Capital outlay
Repairs and maintenance
Depreciation
Total operating expenses
Operating Loss
Other income (expense)
Interest income
Earnings (loss) before
operating transfers
Operating transfer
Net earnings (loss)
Amortization of contributions
in aid of construction
Increase (decrease) in retained earnings
Retained earnings at beginning of year
Retained earnings at end of year
Variance
Favorable
Budget Actual (Unfavorable)
S 473,600 S 503,569 S 29,969
215,000 162,207 (52,793)
317 317
688.600 666.093 (22.507
EXHIBIT E-5
1988
Actual
S -
449,488
449,488
468,500
609,171
(140,671)
304,467
300,600
223,343
77,257
92,144
-
-
182,998
119,500
96,431
23,069
95,246
-
5,086
(5,086)
-
-
10,826
(10,826)
135,000
-
135,000
-
-
5,988
-
70.544
(70.544
56.092
1.023,600
1. 015,401
8,199
736.935
(335,000)
(349,308)
(14,308)
(287,447)
1,206
1,206
(335,000)
(348,102)
(13,102)
(287,447)
335,000
335.000
290.000
(13,102)
$ (13,102
2,553
69,426
54.974
56,324
57,527
67.579
10,052
S 123,903
$ 67,579
89
EXHIBIT E -6
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
90
1989
1988
Sources of working capital:
Operations:
Net loss
$ (7,144)
$ 2,553
Depreciation which does not
use working capital
70.544
56.092
Working capital provided by operations
63,400
58,645
State of Alaska grants
-
2.412.453
Total sources of working capital
63.400
2.471.098
Uses of working capital:
Acquisition of fixed assets
141.330
2.434.813
Total uses of working capital
141.330
2.434.813
Increase (decrease) in working capital
S (
S_3
Changes in components of working capital:
Increase (decrease) in current assets:
Equity in central treasury
$ (2,949)
$ 25,582
Receivables
(11.934
5.739
(14.883
31.321
(Increase) decrease in current liabilities:
Advance from central treasury
-
2,601
Accounts payable
(65,383)
4,699
Accrued compensation
2.336
(2.336
$ (63.047
4.964
Increase (decrease) in working capital
S ( 7�
S _ 6 285
90
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Fixed assets, at cost:
Unclassified utility plant in service 5,671,796 5,671,796
Accumulated depreciation (536.136 (427.979
Net utility plant in service 5,135,660 5,243,817
Construction work in progress 61.185 82.808
Net fixed assets 5.196.845 5.326.625
55.7177.16 $5.81_6.480
92
1989
1988
ASSETS
Current assets:
Equity in central treasury
$ 2,640
$ 6,857
Temporary investments
250.000
200.000
Customer receivables
29,470
13,669
Less allowance for doubtful receivables
(4.641
(4.641
Net customer receivables
24.829
9.028
Total current assets
277.469
215.885
Restricted assets:
Equity in central treasury
-
90,064
Temporary investments
238,191
-
Interest receivable
4,658
-
Receivable from State of Alaska
-
183.906
Total restricted assets
242.849
273.970
Fixed assets, at cost:
Unclassified utility plant in service 5,671,796 5,671,796
Accumulated depreciation (536.136 (427.979
Net utility plant in service 5,135,660 5,243,817
Construction work in progress 61.185 82.808
Net fixed assets 5.196.845 5.326.625
55.7177.16 $5.81_6.480
92
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Payable from current assets:
Accounts payable
Customer deposits
Total payable from current assets
Payable from restricted assets:
Contracts payable
Retainage payable
Due to other funds
Total payable from restricted assets
Total liabilities
Fund equity:
Contributions in aid of construction:
City of Kodiak
State of Alaska
Accumulated amortization
Net contributions in aid of construction
Retained earnings undesignated
Total fund equity
1989
$ 22,546
11.655
34.201
3.028
3.028
37.229
189,166
5.531.694
5,720,860
(536.112
5,184,748
495.186
5.679.934
55.7
EXHIBIT E -7
1988
$ 7,674
7.301
14.975
9,997
20,326
30,323
45.298
189,166
5.527.973
5,717,139
(388.239
5,328,900
442.282
5.771.182
55.8
93
EXHIBIT E -8
Revenues:
Water sales
Installation charges
Other
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUA
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
1989
Variance
Favorable
Budget Actual (Unfavorable)
$180,000
5,000
6,000
191,000
$182,051
2,348
17,242
201.641
S 2,051
(2,652)
11,242
10,641
Total revenues
Operating expenses:
Personal services
Purchased water
Repairs and maintenance
Depreciation
Installation costs
Other:
Rent
Training
Advertising and hearings
Printing and binding
Automotive and travel
Office supplies and postage
Interest
Small tools
Total operating expenses
Operating loss
Other income:
Interest income
Loss before operating transfer
Operating transfer out
Net loss
Amortization of contributions
in aid of construction
Increase (decrease) in
retained earnings
Retained earnings at beginning
of year
Retained earnings at end of year
28,900
100,000
20,000
32,600
600
500
100
500
1,100
1,700
10.000
196.000
(5,0 00)
(5.000)
515_,000
94
40,786
111,604
17,292
108,157
808
265
34
582
1,221
577
1,305
450
283,08
(81,440
26.196
(55,244
(55,244)
108,148
52.904
442.282
5495,186
(11,886)
(11,604)
2,708
(75,557)
(208)
235
66
(82)
(121)
1,123
(1,305)
9.550
(87,081
(76,440
26,196
(50,244
S(50,244
1988
Actual
$172,875
11,684
10.260
194.819
30,366
71,980
17,850
112,470
8,251
817
25
39
615
1,001
1,116
244,530
(49,711
14,172
(35,539
(52,500
(88,039)
98.729
10.690
431.592
$442,282
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1989
Sources of working capital:
Operations:
Net loss
Depreciation which does not use working capital
Working capital provided from operations
Net decrease in restricted assets
Total sources of working capital
Uses of working capital:
Construction of plant
Net decrease in current liabilities
payable from restricted assets
Total uses of working capital
Increase in working capital
Changes in components of working capital:
Increase (decrease) in current assets:
Equity in central treasury
Temporary cash investments
Customer receivables
(Increase) decrease in current liabilities:
Accounts payable
Customer deposits
Increase in working capital
EXHIBIT E -9
1989
$ (55,244)
108.157
52,913
31.121
84.034
14,381
27.295
41.676
S
$ (4,217)
50,000
15.801
61.584
(14,872)
(4.354
19.226
$
95
KODIAK IS LAND BOROUGH
SEWER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
AS E S
Current assets:
Equity in central treasury
Customer receivables
Less allowance for doubtful receivables
Net customer receivables
Total current assets
Restricted assets:
Equity in central treasury
Temporary investments
Interest receivable
Receivable from State of Alaska
Total restricted assets
Fixed assets, at cost:
Unclassified utility plant in service
Accumulated depreciation
Net utility plant in service
Construction work in progress
Net fixed assets
1989 1988
$ - $ 12,827
52,344 50,106
(4.641 (4,642
47,703 45,464
47.703 58.291
- 90,064
238,191 -
4,658 -
183,906
242.849 273,970
9,870,603
9,870,603
(700.711
(469.704
9,169,892
9,400,899
48,422
5,089
9.218.3
9.405.988
59.55066 S9.7� 38.249
96
EXHIBIT E -10
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Payable from current assets:
Due to other funds
Accounts payable
Total payable from current assets
Payable from restricted assets:
Contracts payable
Retainage payable
Due to other funds
Total payable from restricted assets
Total liabilities
Fund equity:
Contributions in aid of construction:
City of Kodiak
State of Alaska
Federal government
Accumulated amortization
Net contributions in aid
of construction
Retained earnings, undesignated
Total fund equity
1989
$ 10,525
2.240
12.765
3.027
3.027
15.792
40,000
9,679,668
200.000
9,919,668
(700.638
9.219.030
274.044
9.493.074
$9.5� 0
1988
2.131
2.131
9,998
20,326
30.324
32.455
40,000
9,673,157
200.000
9,913,157
(507.384
9.405.773
300.021
9.705.794
� 9.73 8 249
97
EXHIBIT E -11
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
Revenues:
Sewer service charges
Installation charges
Other
Total revenues
Operating expenses:
Personal services
Purchased sewer treatment
Repairs and maintenance
Depreciation
Installation costs
Other:
Electric
Rent
Training
Advertising and hearings
Printing and binding
Automotive and travel
Office supplies and postage
Small tools
Total operating expenses
Operating loss
Other income:
Interest income
Loss before operating
transfer
Operating transfer out
Net loss
Amortization of contributions
in aid of construction
Increase (decrease) in
retained earnings
Retained earnings at beginning
of year
Retained earnings at end of year
252.140 494.265 (242.125 417.280
- (260.870 (260.870 (177.372
10.554 10.554 8.761
(250.316 (250.316 (168,611)
(52.500
(250,316) 250,316) (221,111)
224.339 204.799
(25.977 (16.312
300.021 316.333
274 044 300 021
1
I ,
98 1
1989
Variance
Favorable
1988
Budget
Actual (Unfavorable)
Actual
$ 243,940
$ 230,147
$ (13,793)
$ 216,125
5,000
-
(5,000)
21,330
3.200
3.248
48
2.453
252.140
233.395
(18.745
239.908
24,500
36,543
(12,043)
$ 27,219
172,000
170,269
1,731
144,910
20,000
25,633
(5,633)
17,625
13,700
239,647
(225,947)
191,089
-
1,912
(1,912)
18,861
15,000
16,224
(1,224)
14,420
500
850
(350)
693
1,000
265
735
25
100
34
66
27
100
573
(473)
656
1,000
701
299
700
-
373
(373)
38
4.240
_ _ 1.241
2.999
1.017
252.140 494.265 (242.125 417.280
- (260.870 (260.870 (177.372
10.554 10.554 8.761
(250.316 (250.316 (168,611)
(52.500
(250,316) 250,316) (221,111)
224.339 204.799
(25.977 (16.312
300.021 316.333
274 044 300 021
1
I ,
98 1
EXHIBIT E -12
KODIAK ISLAND BOROUGH
' SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1989
WITH COMPARATIVE TOTALS FOR 1988
1989
Uses of working capital:
Operations:
Net loss
$ 250,316
Depreciation which does not use working capital
(239.647
Working capital used by operations
10,669
Construction of plant
15,970
Net decrease in current liabilities payable from
restricted assets
27.296
Total uses of working capital
53.935
Sources of working capital:
'
State of Alaska grants
1,592
Net decrease in restricted assets
31.121
Total sources of working capital
32.713
Decrease in working capital
S (21.222
Changes in components of working capital:
Increase (decrease) in current assets:
Equity in central treasury $ (23,352)
Customer receivables 2.239
' (Increase) decrease in current liabilities: (21.113
109
Accounts payable
'r -
Customer deposits
(109
� Decrease in working capital X222
� I
11 1 99
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED DECEMBER 31, 1988
WITH COMPARATIVE TOTALS FOR 1987
ASSETS
Current assets:
Other cash balances
Receivables:
Patients
Lutheran Hospitals and Homes Society of America
City of Kodiak
Third party
State revenue sharing
Less allowance for doubtful receivables
Net receivables
Prepaid expenses
Inventories, at cost
Total current assets
Borough designated investments
Receivable from Lutheran Hospitals and
Homes Society of America
Fixed assets, at cost:
Land
Building and fixed equipment
Major movable equipment
Less accumulated depreciation
Net fixed assets
1988 1987
$2,524,150 $ 231,508
2,022,470
103,749
27,000
(450.000
4,227,369
100,699
190.883
4.518.951
638,658
638.658
38,551
4,148,274
1.689.517
5,876,342
(2.322.450
3.553.892
1,442,750
283,141
6,251
178,947
87,500
(246.000
1,752,589
173.803
2.157.900
810,397
1.846.000
2.656.397
8,009
4,004,082
1.531.732
5,543,823
(2.107.817
3.436.006
S8.71 $8.2LO
100
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED DECEMBER 31, 1988
WITH COMPARATIVE TOTALS FOR 1987
LIABILITIES AND FUND EQUITY
EXHIBIT E -13
1988 1987
Current liabilities:
Accounts payable $ 38,233 $ 41,750
Accrued liabilities:
Compensation 341,185 238,115
Other 20,975 5,967
Total current liabilities 400,393 285,832
Fund equities:
Contributions in aid of construction:
Federal government 2,237,104 2,237,104
Kodiak Island Borough 1,439,928 1.426.166
3,677,032 3,663,270
Retained earnings, undesignated 4,634,076 4,301,201
Total fund equities 8,311,108 7,964,471
$8.71 $8,2
101
EXHIBIT E -14
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES
EQUITY
AND
f
CHANGES IN FUND
YEAR ENDED DECEMBER 31. 1988
WITH COMPARATIVE TOTALS FOR 1987
e
,
x
1988
1987
Revenues:
Patient
$6,693,120
$6,484,413
Less allowances for uncollectible accounts
(587.397
(396.833
Net patient revenues
6,105,723
6,087,580
Other
186.270
90.620
6
Total revenues
6.291.993
6.178.200
Operating expenses:
Depreciation
299,331
266,618
Professional care of patients
3,109,657
2,795,342
e
Dietary
434,071
404,660
Plant operation and household
592,110
501,506
General administrative
1.899.789
1.489.689
Total operating expenses
6.334.958
5.457.815
Operating income (loss)
(42,965)
720,385
Other income (expense):
Interest income
242,406
168,101
,
State of Alaska, Revenue Sharing
149,400
175,000
!
Loss on disposal of equipment
(15.966
-
375.840
343.101
,
Net earnings
332,875
1,063,486
Fund equity at beginning of year
7,964,471
6,857,670
'
Equity transfers from Kodiak Island Borough
13.762
43.315
Fund equity at end of year
$8,331
$7.964
,
102
KODIAK ISLAND BOROUGH
' HOSPITAL ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED DECEMBER 31. 1988
WITH COMPARATIVE TOTALS FOR 1987
EXHIBIT E -15
103
1988
1987
' Sources of working capital:
Operations:
Net earnings
$ 332,875
$1,063,486
Loss on sale of equipment
15,966
-
'
Depreciation which does not require
working capital
299.331
266.618
Working capital provided by operations
648,172
1,330,104
Decrease in receivables from LHHS
1,846,000
-
' Decrease in Borough designated investments
171,739
-
Contribution from Kodiak Island Borough
General Fund for equipment purchases
13.762
43.315
Total sources of working capital
2.679.673
1.373.419
Uses of working capital:
Purchase of Borough designated investments
-
50,263
Loans to Lutheran Hospitals and
Homes Society of America
-
728,000
Construction of building improvements
'
and purchase of equipment
433.183
134.878
' Total uses of working capital
433.183
913.141
Increase in working capital
$2.2
4
' Changes in components of working capital:
Increase (decrease) in current assets:
Other cash balances
$2,292,642
$ 231,508
Receivables
(49,370)
230,157
'
Inventories
17,080
27,559
Prepaid expenses
100.699
-
2.361.051
489.224
'
(Increase) decrease in current liabilities:
Bank overdraft
-
9,710
' Accounts payable
3,517
(11,872)
Accrued liabilities
(118.078
(26.784
(114.561
(28.946
Increase in working capital
$2,246,490
L 4
103
AGENCY FUNDS
Agency Funds are used to account for assets held by a government as an agent for
individuals, private organizations, other governments, and /or other funds.
STUDENT ACTIVITIES FUND
This fund accounts for the operations of the various Kodiak Island Borough School
District student organizations.
' DEFERRED COMPENSATION FUND
This fund accounts for deferred compensation and accumulated earnings thereon for
participants in the Borough's IRC Section 457 Deferred Compensation Plan.
EXHIBIT F -1
KODIAK ISLAND BOROUGH
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS
LIABILITIES AND FUND BALANCES
YEAR ENDED JUNE 30, 1989
Balance at
July 1. 1988
STUDENT ACTIVITIES FUND
ASSETS
Cash, including time
certificates of deposit $113,236
Other receivables 236
113 472
LIABILITIES
Accounts payable $ 6,461
Due to student organizations 107,011
113 4.72
DEFERRED COMPENSATION FUND
$230,965
ASSETS
720
ICMA investments (at market value)
$383
LIABILITIES
Due to participants
383.248
TOTALS - ALL AGENCY FUNDS
$615,070
ASSETS
$ 6,461
Cash, including time
210,089
certificates of deposit
$113,236
Other receivables
236
ICMA investments
383,248
$ 496,720
LIABILITIES
Accounts payable $ 6,461
Due to student organizations 107,011
Due to participants 383,248
496 720
Balance at
Additions Deletions June 30, 1989
$212,153 $230,965 $ 94,424
720 236 720
212 873 231 201 95,144
$ 2,784 $ 6,461 $ 2,784
210,089 224,740 92,360
212 873 JUL 01 95
2 136 , 678 5�.� 519 926
136 678 519 926
$212,153
$230,965
$ 94,424
720
236
720
136,678
519,926
$ 349,551
$615,070
$ 2,784
$ 6,461
$ 2,784
210,089
224,740
92,360
136,678
519,926
2 349,551
JjjL 201
$615,070
106
GENERAL FIXED ASSETS ACCOUNT GROUP
This is a self- balancin g group account which records fixed assets of the Borough and
P
School District other than those recorded in the Enterprise Funds.
EXHIBIT G -1
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS GROUP
STATEMENT OF GENERAL FIXED ASSETS BY SOURCE
JUNE 30, 1989
General fixed assets:
Land
Buildings
Improvements other than buildings
Machinery and equipment
Construction work in progress
Investment in general fixed assets:
Capital Projects Funds:
General obligation bonds
Federal grants
State grants
General Fund revenues
Special Revenue Funds revenues
Contribution from State of Alaska
$ 7,469,315
58,659,261
842,139
3,232,446
6.911.287
$77.114,448
$46,267,071
649,732
15,095,294
4,167,254
458,755
10.476.342
$77.114.448
108
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS GROUP
STATEMENT OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
JUNE 30, 1989
EXHIBIT G-2
109
Improvements
Machinery
Other Than
and
Total
Land
Buildings
Buildings
Equipment
Staff agencies:
Borough mayor
s 13,007
$
S -
S
S 13,007
Borough clerk
26,096
26,096
Finance
66,487
66,487
Assessing
22,743
22,743
Community development
41,300
41,300
Engineering
55,160
-
55,160
Data services
296,758
296,758
Resource management
2,530
-
-
2,530
Facilities
40,773
40,773
General administration
97,088
97,088
BuiLding inspections
Mental health
58.633
58,633
Total staff agencies
720,575
720,575
Public safety:
Emergency preparedness
94,724
-
-
94,724
Fire Protection Area 1
661,275
s 423,750
237,525
Women's Bay Fire District
606.698
425.655
181.043
Total public safety
1.362.697
849.405
513,292
Schools
53,294,877
-
53,294,877
-
-
School equipment
1,998,579
-
-
1,998,579
Teacher housing
125,715
-
125,715
-
GeneraL governmental buildings
4,389,264
-
4,389,264
-
Building sites
110,648
S 110,648
-
-
-
Playgrounds
710,239
-
S 710,239
Other
131.900
131.900
Total general fixed assets
allocated to functions
62.844,494
110.648
58,659.261
842,139
3,232.446
Undeveloped land
7,358,667
7,358,667
-
-
Construction work in progress
6.911,287
-
6.911,287
Total general fixed assets
$77,1
$7,4�
$65.570,548
s 842.139
$3.232.446
109
EXHIBIT G -3
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS GROUP
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
JUNE 30, 1989
Staff agencies:
Borough mayor
Borough clerk
Finance
Assessing
Community development
Engineering
Data services
Resource management
Facilities
General administration
Building inspections
Economic development
Mental health
Total staff agencies
Public safety:
Emergency preparedness
Fire Protection Area 1
Bells Flats Fire
District
Total public safety
Schools
School equipment
Teacher housing
General governmental buildings
Building sites
Playgrounds
Other
Total general fixed
assets allocated to
functions
Undeveloped land
Construction work in progress
Total general fixed
assets
General Fixed
General Fixed
Assets at
Assets at
July 1. 1988
Additions
Deductions June 30. 1989
$ 6,868
$ 6,139
$ - $ 13,007
18,698
7,398
- 26,096
56,145
10,342
- 66,487
18,575
4,168
- 22,743
24,438
16,862
- 41,300
54,569
591
- 55,160
274,717
22,041
- 296,758
2,530
-
- 2,530
39,823
950
- 40,773
85,214
11,874
- 97,088
56.848
1,785
- 58.633
638.425
82.150
- 720.575
94,724
-
- 94,724
632,491
28,784
661,275
606.698
-
606.698
1.333.913
28.784
- 1.362.697
45,449,285
7,845,592
- 53,294,877
1,778,916
280,508
(60,845) 1,998,579
125,715
-
- 125,715
4,389,264
-
- 4,389,264
110,648
-
- 110,648
710,239
-
- 710,239
131.900
131.900
54.668.305 8.237.034 (60.845 62,844.494
7,358,667 - - 7,358,667
9.763.157 4.993.722 (7,845.592 6,911.287
$71,790,129 $13,230,756 $(7,906,437 $77.114,448
110
GENERAL LONG -TERM DEBT ACCOUNT GROUP
' This is a self - balancing account group which records the Borough's unmatured general
long -term debt. This debt is payable from monies presently in the various Debt Service
Funds and from future general Borough revenues. The debt is backed by the full faith
and credit of the Borough.
EXHIBIT H -1
KODIAK ISLAND BOROUGH
GENERAL LONG -TERM DEBT ACCOUNT GROUP
STATEMENT OF GENERAL LONG -TERM DEBT
JUNE 30, 1989
WITH COMPARATIVE FIGURES FOR 1988
Amount available and to be provided for
the payment of general long -term debt:
Amount available in Debt Service Funds:
School serial bonds
Accrued annual leave
Amount to be provided:
School serial bonds
Environmental Protection Agency loan
General obligation school bonds:
1974B Refunding
1980A Improvement
1986A Improvement
1989 Refunding
Environmental Protection Agency loan
Accrued annual leave
1989 1988
$ 5,809,248 $ 7,111,644
136.481 133.423
5.945.729 7.245.067
11,190,752 12,298,356
322.910 343.749
11.513.662 12.642.105
$17.459.391 $19.887.172
7,000,000
10.000.000
17,000,000
322,910
136.481
$ 1,450,000
9,960,000
8,000,000
19,410,000
343,749
133.423
$17.459.391 $19.887.172
112
SUPPLEMENTAL FINANCIAL DATA
BONDED INDEBTEDNESS
' The following schedules reflect total bonded indebtedness of the Kodiak Island Borough
by bond issue. Each issue outstanding is reflected by date, interest rate, inclusive
' bond numbers, and amount of principal and interest due.
Total indebtedness is reflected on a summary page of all debts not fully defeased.
EXHIBIT I -1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30, 1989
Annual Principal and Interest Requirements*
General Obl igation School Bonds
Calendar
Year
Principal
Interest
Total
1989
$ 1,740,000
$ 458,213
$ 2,198,213
1990
1,575,000
1,135,985
2,710,985
1991
1,630,000
1,009,985
2,639,985
1992
1,680,000
882,105
2,562,105
1993
1,725,000
757,225
2,482,225
1994
1,780,000
629,103
2,409,103
1995
1,835,000
497,142
2,332,142
1996
1,390,000
366,198
1,756,198
1997
945,000
290,677
1,235,677
1998
1,015,000
225,945
1,240,945
1999
1,080,000
155,010
1,235,010
2000
1.155.000
80.850
1,235.850
$17,550,000
$6,488,4388
$24,038,438
* Does not include issues that have been fully defeased.
** Includes imputed interest of 8% on Variable Rate Demand Bonds, Series 1984B
and 1986A.
Note: This Schedule (and subsidiary Schedules 13a through 13e inclusive) indicate
debt service by calendar year; other information in this report relative to
debt service is on a fiscal year (July 1 through June 30) basis.
114
' KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, SERIES 1984B
RETIREMENT SCHEDULE
EXHIBIT I -2
This issue, dated May 1984, consisted initially of nine bonds totaling $9,500,000.
' Bonds in the amount of $8,950,000 have been retired.
Bonds are retired serially in numerical order over a period of six years. Retirement
date is quarterly, each as indicated below.
' This issue was marketed by and is indexed weekly by John Nuveen & Co. of Chicago.
Legal opinion was rendered by bond counsel, Wohlforth & Flint of Anchorage.
' Bonds were issued to construct the Kodiak High School auditorium. Bonds are payable
at the Metropolitan branch of the Seattle First National Bank, Seattle, Washington.
' Interest Principal Interest
Maturity Rate Quarterly Quarterly Total
' July 1989 7.245% $550,000 $10,073 $560,073
' These are variable rate demand bonds. Number of bonds issued and denominations will
vary over the life of the issue. The original buyer was one firm and nine bonds were
' issued; one for $1,500,000 and eight for $1,000,000 each on May 3, 1984.
1 115
EXHIBIT 1-3
KODIAK ISLAND BOROUGH
KODIAK, ALASKA i
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, SERIES 1986A
RETIREMENT SCHEDULE
This issue, dated June 4, 1986, consisted initially of
198 bonds in the amount of $50,000 each,
and one bond in the
amount of
$30,000, totaling $9,930,000. Bonds numbered 1 through 59 in the amount
of $2,930,000 have been retired.
Bonds numbered 60 through 199 bear interest
at the rate
indicated below.
Bonds are
retired serially in numerical order over a period of ten years. Retirement dates are quarterly beginning on
September
1, 1986 and quarterly thereafter.
For information
on early call of these bonds, please
review the ordinance,
Letter of
credit, and prospectus on this issue.
This issue was marketed by and is marked and
indexed weekly by John Nuveen & Co. of Chicago.
Legal
opinion was rendered
'
by bond counsel, Wohlforth & Flint of Anchorage.
Bonds were issued to renovate and extend various school
projects. Bonds are payable
at the Metropolitan branch of the
Seattle First
National Bank, Seattle, Washington.
,
Bond
Interest
Numbers
Principal
Maturity
Rate*
Inclusive
Amount
Interest
Total
'
Sep 1989
Variable
60 -64
S 250,000
S 140,000
$ 390,000
Dec 1989
Variable
65 -69
250,000
135,000
385,000
Mar 1990
Variable
70 -74
250,000
130,000
380,000
'
Jun 1990
Variable
75-79
250,000
125,000
375,000
Sep 1990
Variable
80-84
250,000
120,000
370,000
Dec 1990
Variable
85-89
250,000
115,000
365,000
Mar 1991
Variable
90-94
250,000
110,000
360,000
'
Jun 1991
Variable
95 -99
250,000
105,000
355,000
Sep 1991
Variable
100 -104
250,000
100,000
350,000
Dec 1991
Variable
105 -109
250,000
95,000
345,000
Mar 1992
Variable
110 -114
250,000
90,000
340,000
Jun 1992
Variable
115 -119
250,000
85,000
335,000
,
Sep 1992
Variable
120 -124
250,000
80,000
330,000
Dec 1992
Variable
125 -129
250,000
75,000
325,000
Mar 1993
Variable
130 -134
250,000
70,000
320,000
Jun 1993
Variable
135-139
250,000
65,000
315,000
,
Sep 1993
Variable
140 -144
250,000
60,000
310,000
Dec 1993
Variable
145 -149
250,000
55,000
305,000
Mar 1994
Variable
150-154
250,000
50,000
300,000
Jun 1994
Variable
155-159
250,000
45,000
295,000
'
Sep 1994
Variable
160 -164
250,000
40,000
290,000
Dec 1994
Variable
165 -169
250,000
35,000
285,000
Mar 1995
Variable
170 -174
250,000
30,000
280,000
Jun 1995
Variable
175 -179
250,000
25,000
275,000
'
Sep 1995
Variable
180 -184
250,000
20,000
270,000
Dec 1995
Variable
185 -189
250,000
15,000
265,000
Mar 1996
Variable
190 -194
250,000
10,000
260,000
Jun 1996
Variable
195 -199
250.000
5.000
255,000
,
$7,000,000
$2,030,000
$9.0
* Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
116 1
' KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL REFUNDING BONDS. SERIES 1989
' RETIREMENT SCHEDULE
EXHIBIT I.4
This issue, dated May 1, 1989, consists of 2,000 bonds in the amount of $5,000 each, totaling $10,000,000. No bonds
have been retired. Bonds bear interest at the rate indicated below.
Bonds are retired serially
in numerical order over a period of 10 years. Retirement date is August 1 of each year
beginning in
1989. Bonds maturing in 1997
and after are
callable beginning in
1997 and this call
privilege may be
'
exercised.
This issue was marketed by
John Nuveen 8 Co. of Chicago.
Legal opinion was
rendered by bond counsel, Wohlforth,
Argetsinger,
Johnson I Brecht of Anchorage.
Bonds were issued to refund
the 1980 issue.
Bonds are payable at the Security
Pacific National Bank
Seattle, Washington.
Bond
Principal
Interest
Interest
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
February 1
August 1
Total
1989
6.75
1 -138
S 690,000
$ 0.00
$ 173,140.00
S 863,140.00
' 1990
8.00
139-253
575,000
322,992.50
322,992.50
1,220,985.00
1991
7.60
254.379
630,000
299,992.50
299,992.50
1,229,985.00
' 1992
6.60
380 -515
680,000
276,052.50
276,052.50
1,232,105.00
1993
6.65
515- 660
725,000
253,612.50
253,612.50
1,232,225.00
' 1994
6.65
661 -816
780,000
229,506.25
229,506.25
1,239,012.50
1995
6.70
817.983
835,000
203,571.25
203,571.25
1,242,142.50
1996
6.80
984 -1161
890,000
175,598.75
175,598.75
1,241,197.50
1997*
6.85
1162-1350
945,000
145,338.75
145,338.75
1,235,677.50
1998
6,90
1351-1553
1,015,000
112,972,50
112,972,50
1,240,945.00
'
1999
6.96
1554 -1769
1,080,000
77,955.00
77,955.00
1,235,910.00
2000
7.00
1770 -2000
1.155,000
40.425,00
40.425,00
1,235,850,00
'
S10,000,000
S 2,138,017
SS 2�
S 14,449.175
1
* Maturities on and after August 1, 1997 are callable at par on this and any interest date thereafter.
' 117
EXHIBIT I-5
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL EXTENSION AND
IMPROVEMENT BONDS- SERIES 1980A
RETIREMENT SCHEDULE
This issue, dated August 1, 1980, consists of 2,420 bonds in the amount of $5,000 each, totaling $12,100,000. Bonds
numbered 1 through 521 have been retired. Bonds numbered 522 through 2420 bear interest at the rate indicated below.
Bonds are retired serially in n mericaL order over a period of 20 years. Retirement date is August 1 of each year
beginning in 1982. Bonds maturing in 1990 and after wiLL be callable on August 1, 1990 as this issue has been refunded
by the May 1, 1989 issue.
Bonds were issued to extend and improve the school system. Bonds are payable at the Rainier Bank and Trust, Seattle,
Washington.
MEMO ONLY - Refunded by May 1, 1989 issue.
118
Bond
Principal
Interest
Interest
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
February 1
August 1
Total
1989
9.00
522 -621
S 500,000
S -
S 374,351
S 974,351
1990*
7.30
622 -729
540,000
351,851
351,851
1,243,702
1991
7.30
730 -846
585,000
332,141
332,141
1,249,282
1992
7.45
847- 973
630,000
310,789
310,789
1,251,578
1993
7.60
974 - 1109
680,000
287,321
287,321
1,254,642
1994
7.75
1110 - 1258
735,000
261,481
261,481
1,257,962
1995
8.00
1259 - 1577
795,000
233,000
233,000
1,261,000
1996
8.00
1578 - 1749
860,000
201,200
201,200
1,262,400
1997
8.00
1750 -1934
925,000
166,800
166,800
1,258,600
1998
8.00
1935-2134
1,000,000
129,800
129,800
1,259,600
1999
8.00
2135 -2350
1,080,000
89,800
89,800
1,259,600
2000
8.00
2351 -2420
1,165,000
46,000
46,000
1,258,200
$9,495,000
$2.410,783
$2,784,534
514,690,917
MEMO ONLY - Refunded by May 1, 1989 issue.
118
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION REFUNDING BONDS. SERIES 1974A
RETIREMENT SCHEDULE
EXHIBIT I-6
This issue, dated April 1, 1974, consists of 800 bonds in the amount of $5,000 each, totaling $4,000,000. Bonds
numbered 1 through 548 have been retired. Bonds numbered 549 through 800 bear interest at the rate indicated below.
Bonds are retired serially in numerical order over a period of twenty years. Retirement date is August 1 of each year
beginning in 1974. This issue was refunded by the August 1, 1974 issue and payment funds are in escrow at Central
Bank of Denver. Bonds maturing in 1989 and after are callable beginning in 1989, and according to the escrow
agreement, the call privilege will be exercised.
Bonds were issued to refund the Borough's outstanding general obligation bonds. Bonds are payable at the Central Bank
of Denver, Denver, Colorado.
* Funds are in Account No. 87 -1248 with the Central Bank of Denver. Maturities of 1990 through 1992 will be called
on August 1, 1989, per Section 4 of the Escrow Agreement with Central Bank of Denver, Denver, Colorado, dated
October 1, 1974.
MEMO ONLY - Refunded by August 1, 1974 issue.
119
Bond
Principal
Interest
Interest
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
February 1
August 1
Total
1989*
5.55
549 -606
$ 290,000
$
S 17,729
S 307,729
1990
5.60
607 -667
305,000
27,160
27,160
359,320
1991
5.60
668 -732
325,000
10,311
10,311
345,622
1992
5.70
733 -800
340,000
9,690
9,690
359,380
$1,26
S A
E
$1
* Funds are in Account No. 87 -1248 with the Central Bank of Denver. Maturities of 1990 through 1992 will be called
on August 1, 1989, per Section 4 of the Escrow Agreement with Central Bank of Denver, Denver, Colorado, dated
October 1, 1974.
MEMO ONLY - Refunded by August 1, 1974 issue.
119
STATISTICAL TABLES
Statistical tables reflect social and economic data, financial trends and the
' fiscal capacity of the governmental unit.
TABLE 1
KODIAK ISLAND BOROUGH '
KODIAK, ALASKA
GENERAL GOVERNMENTAL EXPENDITURES
AND OTHER USES BY FUNCTION (a)
LAST TEN FISCAL YEARS 0
(a) Includes general fund only. '
(b) Including operating transfers for this function.
(c) Kodiak Island Borough is a second-class borough and does not have road powers. Specific monies are expended
for local service roads and trails in the service districts. Subsequent to fiscal period 1978, these monies
are administered through a separate fund.
(d) The Debt Service Funds are now maintained as separate funds. Some amounts (included in other operating
transfers) go to the Debt Service Funds from the General Fund.
122 1
Local
1
Service
other
Fiscal
General
Roads and
Health and
Debt
Operating
Year
Government
Trails (c)
Sanitation (b)
Education (b)
Service
Transfers
Total
1980
S 995,585
$189,280
$1,113,882
S 84,689
S 525,603
$2,909,039
1981
1,525,087
342,696
1,298,585
102,887 (d)
519,212
3,788,467
'
1982
1,694,923
785,644
906,447
506,125
3,893,139
1983
1,857,316
2,034
446,001
1,386,788
4,742,292
8,434,431
1984
1,588,182
709,508
1,478,912
1,185,630
4,962,232
1985
1,677,539
547,388
1,608,341
1,080,310
4
'
1986
1,877,136
563,516
1,662,858
447,669
4,551,179
1987
2,089,508
579,930
1,901,130
553,373
5,123,941
1988
1,964,710
545,954
2,177,405
890,000
5
1989
2,208,351
517,112
2,128,997
768,100
5,622,560
'
(a) Includes general fund only. '
(b) Including operating transfers for this function.
(c) Kodiak Island Borough is a second-class borough and does not have road powers. Specific monies are expended
for local service roads and trails in the service districts. Subsequent to fiscal period 1978, these monies
are administered through a separate fund.
(d) The Debt Service Funds are now maintained as separate funds. Some amounts (included in other operating
transfers) go to the Debt Service Funds from the General Fund.
122 1
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
GENERAL REVENUES BY SOURCE (a)
LAST TEN FISCAL YEARS
TABLE 2
(a) Includes general fund only.
(b) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(c) Includes a $481,269 loss on investment relating to the Lion Capital Group.
123
Licenses
Inter-
Charges
Fiscal
and
governmental
for
Operating
Year
Taxes
Permits
Revenue
Service
Miscellaneous
Transfers
Total
1980
$2,060,290
S 7,695
S 709,253
5466,153
S
$132,968
53,376,359
1981
2,281,111
24,083
1,706,477
112,120
754,961
168,140
5,046,892
1982
2,237,755
22,233
2,701,874
110,020
892,206 (b)
5,964,088
1983
1,928,259
45,444
3,086,448
118,064
472,281
83
5,650,579
1984
1,844,572
34,779
2,542,441
44,194
421,808
121,160
5,008,954
1985
1,868,049
40,386
2,365,386
25,850
454,218
15,000
4,768,889
1986
2,065,440
53,786
2,277,655
83,849
(113,025)(c)
53,660
4,421,365
1987
2,188,750
138,151
2,114,283
99,330
451,518
57,090
5,049,122
1988
2,491,065
97,959
2,291,627
100
355,802
114,635
5,351,188
1989
2,515,436
95,748
3,449,948
-
354,523
56,410
6,472,065
(a) Includes general fund only.
(b) Largest single element of this figure is $860,121 of investment earnings in an unusual year of the market.
(c) Includes a $481,269 loss on investment relating to the Lion Capital Group.
123
TABLE 3
KODIAK ISLAND BOROUGH '
KODIAK, ALASKA
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(a) Includes $161,113 due from City of Kodiak.
(b) Includes 5984,930 due from City of Kodiak.
(c) Intensive collection procedures were instituted to include foreclosure proceedings, where necessary, under Alaska ,
Statute, Title 29. A dispute was settled between the Borough and the City and amounts due were remitted to the
respective governments.
Ij
124 1
Percent of
Percent of
Percent
Delinquent
Total Tax
Outstanding
Delinquent
Fiscal
Total
Current Tax
of Levy
Tax
Total Tax
Collections
Delinquent
Taxes to
Year
Tax Le
Collections
Collected
Collections
Collections
to Tax Levy
Taxes
Tax Levy
1980
$1,915,340
$1,764,316
92.1
S 48,923
$1,813,239
94.7
S 330,578 (a)
17.3
1981
2,257,590
1,496,037
66.3
41,038
1,537,075
68.1
1,051,093 (b)
46.6
1982 (c)
2,118,431
2,095,431
98.9
978,969
3,074,400
145.1
95,124
4.5 '
1983
1,876,462
1,844,867
98.3
94,231
1,939,098
103.3
32,488
1.7
1984
1,646,752
1,617,654
98.2
31,487
1,649,141
100.1
30,099
1.8 '
1985
1,508,003
1,492,923
99.0
10,733
1,503,656
99.7
19,366
1.3
1986
2,024,237
1,986,914
98.2
13,504
2,000,416
98.8
43,185
2.1 t
1987
2,181,410
2,176,543
99.7
12,207
2,188,750
100.3
49,235
2.2
1988
1,926,427
1,912,214
99.3
54,625
1,966,839
102.1
25,610
1.3 '
1989
1,991,902
1,987,251
99.7
4,474
1,991,725
99.9
21,136
1.1
(a) Includes $161,113 due from City of Kodiak.
(b) Includes 5984,930 due from City of Kodiak.
(c) Intensive collection procedures were instituted to include foreclosure proceedings, where necessary, under Alaska ,
Statute, Title 29. A dispute was settled between the Borough and the City and amounts due were remitted to the
respective governments.
Ij
124 1
TABLE 4
'
KODIAK ISLAND BOROUGH
KODIAK,
ALASKA
'
ASSESSED
AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
'
Ratio
of Total
Assessed
REAL PROPERTY
PERSONAL PROPERTY
TOTAL
to Total
Estimated
Fiscal
t
Assessed
Estimated
Assessed
Estimated
Assessed
Estimated
Actual
Year
Value
Actual Value
Value
Actual Value
Value
Actual Value
Value
' 1980
5207,066,200
$207,066,200
$102,859,300
$102,859,300
5309,925,500
5309,925,500
100
1981
225,394,400
225,394,400
132,268,500
132,268,500
357,662,900
357,662,900
100
1982
187,598,046
187,598,046
149,474,150
149,474,150
337,072,196
337,072,196
100
'
1983
216,508,832
216,508,832
67,606,123 (a)
144,886,873
284,114,955
361,395,705
78.6
1984
307,989,403
307,989,403
87,631,001 (b)
182,466,162
395,620,404
490,455,565
80.7
'
1985
325,278,582
325,278,582
69,329,999
167,476,461
394,608,581
492,755,043
80.1
1986
354,524,678
354,524,678
52,088,100 (c)
125,607,345
406,612,778
480,132,023
84.7
' 1987
367,360,196
367,360,196
37,499,229
90,373,141
404,859,425
457,733,337
88.4
1988
379,969,521
379,969,521
48,795,064
156,628,800
428,764,585
536,598,321
79.9
' 1989
378,072,396
393,259,044
58,727,868
169,567,985
436,800,264
562,827,029
77.6
(a) Exempted boat full and true value for $5 and S15 fees.
' (b) Reflects exemptions of boats and inventories.
(c) Exempted S5 tax for small watercraft (boats and skiffs under five ton).
125
TABLE 5
KODIAK ISLAND BOROUGH ,
KODIAK, ALASKA
s
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS ,
(PER $100 OF ASSESSED VALUE)
LAST TEN FISCAL YEARS
a. The property tax millage for the Kodiak Island Borough has not in '
the past years been broken out to indicate the true millage that
would be distributed to the various entities, in all cases.
b. Contributions from the Borough to the School District for the last '
ten years is calculated to have been as follows:
r
'
Fiscal
Road Service
Districts
Millage
Fire Districts
Year
KIB
City
Debt
1980
5309,925,500
51,023,435
3.30
,
1981
Fiscal
General
of
Service
1982
Monashka
Service
Bayview
Women's
Service
Women's
Year
Fund
Kodiak
Funds
Total
Bay
District
1 Road
Bay
District 1
Bay
3.49
1986
406,612,778
1,524,460
3.75
1987
404,859,425
2,140,149
5.29
1980
6.98
6.00
0.00
12.98
0.00
0.00
0.00
7.20
1.90
0.00
1981
6.98
2.00
0.00
8.98
0.00
1.00
0.00
0.00
1.95
0.00
1982
7.00
4.00
0.00
11.00
0.00
0.00
0.00
0.00
2.94
0.00
1983
7.00
2.00
0.00
9.00
1.50
0.00
0.00
0.50
1.50
0.50
1984
3.75
1.25
0.00
5.00
2.00
0.00
0.00
0.50
1.50
0.50
1985
3.75
2.00
0.00
5.75
2.00
0.00
0.00
0.50
1.50
0.50
1986
3.75
2.00
0.00
5.75
2.00
0.25
0.00
0.10
1.50
0.90
1987
4.51
2.00
0.00
6.51
2.00
0.25
1.00
0.50
1.50
0.50
1988
4.51
2.00
0.00
6.51
2.00
0.25
1.00
0.50
1.50
0.25
1989
4.50
2.00
0.00
6.50
2.00
0.25
1.50
1.50
1.50
0.25
a. The property tax millage for the Kodiak Island Borough has not in '
the past years been broken out to indicate the true millage that
would be distributed to the various entities, in all cases.
b. Contributions from the Borough to the School District for the last '
ten years is calculated to have been as follows:
r
i
126 1
'
Fiscal
Assessed
Amount of
Millage
Year
Value
Contribution
Equivalent
1980
5309,925,500
51,023,435
3.30
,
1981
357,662,900
1,066,927
2.98
1982
337,072,196
676,922
2.01
1983
284,114,955
1,172,544
4.13
1984
395,620,404
1,478,912
3.74
'
1985
394,608,581
1,377,345
3.49
1986
406,612,778
1,524,460
3.75
1987
404,859,425
2,140,149
5.29
1988
428,764,585
2,343,992
5.47
'
1989
423,038,700
2,565,097
6.06
i
126 1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
TEN LARGEST TAXPAYERS
YEAR ENDED JUNE 30, 1989
TABLE 6
* Taxes actually collected were less, in some cases, due to various laws such as personal property
within city limits being exempt.
127
Percentage
Percentage
of total
1989
(Net *)
of total
Assessed
Assessed
Taxes
Taxes
Taxpayer
Valuation
Valuation
Levied
Levied
International Seafoods of Alaska
2.42%
$10,267,051
$ 61,095
3.29%
Telephone Utilities of the Northland
1.97
8,344,557
39,430
2.13
Alaska Pacific Seafoods
1.86
7,866,236
41,996
2.27
Western Alaska Fisheries
1.73
7,318,998
41,591
2.24
King Crab, Inc.
1.62
6,835,891
40,034
2.16
Sea -Land Services, Inc.
1.60
6,759,513
41,571
2.24
All Alaskan Seafoods, Inc.
1.42
6,001,845
30,972
1.67
Waldos /O'Kraft & Son, Inc. (Retailers)
1.31
5,562,686
34,439
1.86
Queen Fisheries, Inc.
1.00
4,254,013
24,845
1.34
Brechan Enterprises, Inc. (Construction)
.98
4.139.702
25,194
1.36
Totals
15.92%
$67.350.492
$381.167
1
* Taxes actually collected were less, in some cases, due to various laws such as personal property
within city limits being exempt.
127
TABLE 7
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
RATIO OF NET GENERAL BONDED DEBT
LAST TEN FISCAL YEARS
(a) 1980 population is per U.S. Bureau of Census; others are estimates from the Borough Planning Department based
on the "Housing Unit Method."
(b) This figure was via a joint Borough /City special census. This figure was accepted and certified by the State '
demographer on November 17, 1982 and later accepted by the Federal Bureau of Census.
128 1
Ratio
of Net
Net
Bonded
Bonded
Less Debt
Debt to
Debt
Fiscal
Assessed
Gross
Service
Net Bonded
Assessed
per
Year
Population
Value
Bonded Debt
Fund
Debt
Value
Capita
1980 (a)
9,939
$309,925,500
S 3,725,000
$ 226,462
S 3,498,538
1.1
352
1981
10,124
357,662,900
15,610,000
1,180,818
14,429,182
4.0
1,425
1982 (b)
12,714
337,092,196
15,390,000
435,438
14,954,562
4.4
1,176
1983
13,079
284,114,955
22,275,000
435,438
21,839,562
7.7
1,670
1984
13,389
395,620,404
30,025,000
6,300,296
23,724,704
6.0
1,772
1985
13,748
394,608,581
25,815,000
7,154,308
18,660,692
4.7
1,357
1986
13,952
406,612,778
30,665,000
7,776,557
22,888,443
5.6
1,641
1987
14,127
404,859,425
25,925,000
7,279,292
18,645,708
4.6
1,320
1988
15,575
428,764,585
22,160,000
7,111,644
15,048,356
3.5
966
1989
15,575
436,800,264
17,550,000
5,310,721
12,239,279
2.8
786
(a) 1980 population is per U.S. Bureau of Census; others are estimates from the Borough Planning Department based
on the "Housing Unit Method."
(b) This figure was via a joint Borough /City special census. This figure was accepted and certified by the State '
demographer on November 17, 1982 and later accepted by the Federal Bureau of Census.
128 1
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
YEAR ENDED JUNE 30, 1989
TABLE 8
(a) Gross debt outstanding less applicable amounts in the Debt Service Funds.
(b) Determined by ratio of assessed valuation of property subject to taxation in
overlapping unit to valuation of property subject to taxation in reporting unit.
(c) Under Alaska Statutes Title 29, there is no limitation on municipal debt.
129
Percentage
Kodiak
Applicable
Island
Net Debt
to this
Borough's
Outstanding
Governmental
Share of
Name of Governmental Unit
(a)
Unit (b)
Debt (c)
Kodiak Island Borough:
General obligation bonds
$12,239,279
100%
$12,239,279
City of Kodiak:
General obligation bonds
1,335,000
64%
854,400
Revenue bonds
5,840,000
64%
3,737,600
Total
$19,414,279
$16,831,279
(a) Gross debt outstanding less applicable amounts in the Debt Service Funds.
(b) Determined by ratio of assessed valuation of property subject to taxation in
overlapping unit to valuation of property subject to taxation in reporting unit.
(c) Under Alaska Statutes Title 29, there is no limitation on municipal debt.
129
TABLE 9
Assessed value
Plus exempt property
Total
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
COMPUTATION OF LEGAL DEBT MARGIN
JUNE 30, 1989
S 436,800,264
1,303,391,324
$1,740,191,588
The State of Alaska does not mandate a debt limit to its municipalities and political subdivisions. Debt capacity I
is ultimately determined by the marketplace.
130 1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES
FOR GENERAL BONDED DEBT TO TOTAL
GENERAL EXPENDITURES
LAST TEN FISCAL YEARS
TABLE 10
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case
of term bonds.
131
Ratio of
Debt Service
Total
Total
to General
Fiscal
Principal
Interest
Debt
General
Expenditures
Year
(a)
and fees
Service
Expenditures
(percent
1980
S 205,000
S 229,737
S 434,737
$2,909,039
14.9
1981
215,000
218,521
433,521
3,788,467
11.4
1982
220,000
1,680,912
1,900,912
3,893,139
48.8
1983
515,000
1,185,806
1,700,806
8,434,431
20.2
1984
1,750,000
1,555,900
3,305,900
4,962,232
66.6
1985
4,210,000
2,108,539
6,318,539
4,913,578
128.6
1986
5,080,000
1,727,562
6,807,562
4,551,179
149.6
1987
4,750,417
1,787,384
6,537,801
5,123,941
127.6
1988
3,785,834
1,695,468
5,481,302
5,578,069
98.3
1989
5,135,833
1,502,762
6,638,595
5,899,440
112.5
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case
of term bonds.
131
TABLE 11
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
Fiscal
Year
Population (a) School Enrollment (b)
Unemployment Rate (c)
1980
9,939
2,149
9.7%
1981
10,124 (d)
2,086
10.0
1982
12,714
2,106
12.1
1983
13,079
2,189
9.7
1984
13.389
2,180
6.9
1985
13,748
2,295
9.6
1986
13,952
2,285
7.7
1987
14,127
2,329
7.4
1988
14,375
2,531
6.2
1989
15,575
2,304
3.2
(a)
1980 per U.S. Bureau of Census; other years per Borough
Planning Department.
(b)
Kodiak Island Borough School District.
(c)
Department of Labor, Anchorage.
(d)
This figure was via a joint Borough /City
special census.
This figure was accepted and
certified by the State demographer on November 17, 1982
and later accepted by the
Federal Bureau of Census.
132
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS
YEAR ENDED JUNE 30, 1989
Name of Official
Jerome M. Selby
See page 4
Contracted
Bryce S. Weeks
Earl Smith
Perry L. Page
Gaye Vaughan
Linda Freed
Barbara Templeton
David Crowe
Patrick Carlson
Pam Delys- Baglien
Robert McFarlane
Title
Mayor
Assembly members
Attorney
Finance Director /Treasurer
Fire Chief, Service Area One
Data Processing Manager
Borough Clerk
Director of Planning and
Community Development
Cashier
Engineer
Assessor /Appraiser
Director of Mental Health
Facilities Coordinator
Annual Salary
$70,260
2,400
60,390
52,760
47,000
47,280
63,890
17,320
64,170
42,180
69,590
47,120
TABLE 12
Amount of
Surety Bond (1)
(2)
(2)
$1,000,000
50,000
(1) By ordinance in 1984 the Kodiak Island Borough Assembly elected to decrease the amount of bond
payments and to self - insure except for the treasurer and cashier. These positions are bonded
at $1,000,000 and $50,000, respectively.
(2) Also covered by elected officials' errors and omission policy of $1,000,000.
133
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST TEN FISCAL YEARS
Source:
1. From local bankers
* Estimated actual value
TABLE 13
PROPERTY VALUE *
Commercial
S 77,248,643
77,980,241
86,107,893
107,487,339
104,233,851
116,411,447
115,574,577
114,409,875
123,053,031
128,202,254
Residential
S 103,559,568
109,408,625
129,872,475
199,913,042
220,001,411
236,302,401
258,311,716
252,950,321
255,417,891
266,409,021
Nontaxable
S 51,735,973
51,972,410
208,695,345
245,623,546
739,960,807
1,053,965,717
1,127,834,040
1,134,524,305
1,159,131,464
1,177,364,559
135
CONSTRUCTION
Commercial
Residential
Deposits in
Fiscal
No. of
No. of
Local
Year
Units
Value
Units
Value
Banks (1)
1980
20
S 354,538
32
S 1,691,266
S 12,159,684
1981
40
331,941
55
2,163,650
65,921,937
1982
53
826,596
71
3,208,175
71,801,883
1983
77
7,708,474
136
10,631,463
54,032,065
1984
63
2,965,496
74
5,495,636
59,010,831
1985
62
10,316,833
99
7,928,241
61,598,752
1986
54
3,012,970
118
10,563,802
64,420,672
1987
35
4,256,169
134
5,313,110
78,402,810
1988
42
549,382
91
4,314,003
72,068,409
1989
22
1,174,346
131
6,421,773
93,830,000
Source:
1. From local bankers
* Estimated actual value
TABLE 13
PROPERTY VALUE *
Commercial
S 77,248,643
77,980,241
86,107,893
107,487,339
104,233,851
116,411,447
115,574,577
114,409,875
123,053,031
128,202,254
Residential
S 103,559,568
109,408,625
129,872,475
199,913,042
220,001,411
236,302,401
258,311,716
252,950,321
255,417,891
266,409,021
Nontaxable
S 51,735,973
51,972,410
208,695,345
245,623,546
739,960,807
1,053,965,717
1,127,834,040
1,134,524,305
1,159,131,464
1,177,364,559
135
TABLE 14
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
MISCELLANEOUS STATISTICAL DATA
YEARS ENDED JUNE 30, 1980 THROUGH 1989
Date of incorporation - September 30, 1963, Second Class Borough by Chapter 146 Sessions, Laws of Alaska 1961, as
amended, Form of Government - Mayor /Assembly.
Area - square miles
Miles of improved street
Miles of sanitary sewers
Number of water taps
Number of sanitary sewer taps
Building permits:
Permits issued
Value of buildings (thousands)
Fire protection:
Number of fire stations
Number of employees
Police protection - none
Recreation:
Parks - number of acres
Facilities:
Number of playgrounds
Number of swimming pools
Education:
Number of schools:
Elementary
Junior high /middle
Senior high /middle
Vocational technology
Number of support personnel (b)
Number of teachers
Number of students
Number of municipal employees
Elections:
Number of registered voters
Number voting in last election
Percent of registered voters
1980
1981
1982
1983
4,900
4,900
4,900
4,900
16.48
16.48
16.48
16.48
309
170
52 95 124 213
2,045.8 2,495.5 4,034.7 18,339.9
1,500
2,230
2,440
3,277
4
1
1
1
1
11
11
10
10
4
4
4
4
6
6
6
6
1
1
1
1
181
187
178
179
150
150
150
150
2,149
2,086
2,106
2,189
32
37
39
46
5,123
5,198
5,883
5,115
1,595
1,613
1,619
1,720
31.1
31.0
27.5
33.6
(a) Prior years include lands designated recreational; 1986 and after represents actual acres of parks.
(b) By annexation, effective March 4, 1989 the Borough has grown some additional 12,830 square miles.
Total Borough is now 22,395 square miles with a land mass of 7,130 square miles.
(c) All non-teaching employees.
136
TABLE 14
1984
1985
1986
1987
1988
1989
4,900
4,900
4,900
4,900
4,900
7,130 (b)
16.48
17.29
19.53
20.3
21.5
21.5
3.7
4.2
9.63
15.49
16
16
309
309
410
659
707
748
170
170
327
619
666
727
137
161
172
169
133
153
8,416.1
17,858.0
12,196.8
9,570.0
4,863.4
7,596.1
2
2
2
2
2
2
1
1
1
1
1
1
4,099
3,414
220(a)
222
223
223
5
5
14
15
15
15
1
1
1
1
1
1
10
10
10
10
10
11
4
4
4
4
4
4
7
7
7
7
7
7
1
1
1
1
1
1
174
158
159
152
167
172
156
157
154
148
169
167
2,180
2,295
2,285
2,329
2,351
2,304
49
46
49
53
57
66
5,200
5,603
6,463
6,559
5,427
6,150
2,079
3,075
2,356
2,094
2,507
1,459
44.0
46.6
36.4
31.9
46.2
23.7
137