CAFR FY19901
1
1
1
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KODIAK ISLAND BOROUGH
Kodiak, Alaska
Comprehensive Annual Financial Report
For Year Ended
June 30, 1990
Prepared By:
Department of Finance
Bryce S. Weeks
Finance Director
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1990
TABLE OF CONTENTS
INTRODUCTORY SECTION
EXHIBIT PAGE
ELECTED OFFICIALS (PHOTOGRAPHS) v
BOROUGH OFFICIALS vi
BOARDS AND COMMITTEES viii
MAP OF KODIAK ISLAND BOROUGH ix
GFOA CERTIFICATE OF ACHIEVEMENT x
ORGANIZATIONAL CHART xi
LETTER OF TRANSMITTAL xii
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT 1
COMBINED FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types and Account Groups 1 2
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types 2 6
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual - General
Fund, Special Revenue Funds and Debt Service Funds 3 8
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings - Proprietary Fund Type - Enterprise Fund 4 10
Combined Statement of Cash Flows
Proprietary Fund Type - Enterprise Fund 5 11
Notes to Combined Financial Statements 13
COMBINING, FUND AND ACCOUNT GROUP
FINANCIAL STATEMENTS
GENERAL FUND:
Balance Sheet A -1 42
Statement of Revenues, Expenditures, Transfers
and Changes in Fund Balance - Budget and Actual A -2 43
Schedule of Expenditures and Transfers -
Budget and Actual A -3 46
i
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1990
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 of Revenues, Expenditures and Changes
in Fund Balance (Deficit) - Budget and Actual:
Fire and Road Service Districts:
Fire:
Area 1
B -3
56
Women's Bay
B -4
57
Road:
Monashka Bay
B -5
58
District 1
B -6
59
Women's Bay
B -7
60
Bay View
B -8
61
Federal and State Grant Programs:
Mental Health Center
B -9
62
Mental Health Center - Schedule of Expenditures
B -10
63
Coastal Management Program
B -11
64
Day Care
B -12
65
Education
B -13
66
Land Sales
B -15
67
Building and Grounds
B -14
68
Oil Spill Cleanup
B -16
69
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
Other
C -4
75
CAPITAL PROJECTS FUNDS:
Combining Balance Sheet
D -1
78
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances (Deficits)
D -2
80
Schedule of Capital Projects
D -3
82
ii
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1990
' TABLE OF CONTENTS
(Continued)
ENTERPRISE FUNDS:
Combining Balance Sheet
Combining Statement of Revenues, Expenses,
and Changes in Retained Earnings
Combining Statement of Cash Flows
Sanitary Services:
Balance Sheet
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
Statement of Cash Flows
Water:
Balance Sheet
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
Statement of Cash Flows
Sewer:
Balance Sheet
Statement of Revenues, Expenses and Changes
in Retained Earnings - Budget and Actual
1 Statement of Cash Flows
Hospital:
Balance Sheet
Statement of Revenues, Expenses and
Changes in Fund Equity
Statement of Cash Flows
AGENCY FUNDS:
Combining Statement of Changes in Assets,
Liabilities and Fund Balances
GENERAL FIXED ASSETS ACCOUNT GROUP:
Statement of General Fixed Assets by Source
Statement of General Fixed Assets by Function and Activity
Statement of Changes in General Fixed Assets by
Function and Activity
GENERAL LONG -TERM DEBT ACCOUNT GROUP:
Statement of General Long -Term Debt
iii
EXHIBIT PAGE
E -1
86
E -2
88
E -3
89
E -4
90
E -5
91
E -6
92
E -7
94
E -8
96
E -9
97
E -10
98
E -11
100
E -12
101
E -13
102
E -14
104
E -15
105
F -1 108
G -1
110
G -2
111
G -3
112
H -1 114
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1990
TABLE OF CONTENTS
(Continued)
EXHIBIT PAGE
SUPPLEMENTAL FINANCIAL DATA:
Summary of Debt Service Requirements to Maturity I -1 116
General Obligation School Improvement Bonds, Series 1986A
Retirement Schedule I -2 117
General Obligation School Refunding Bonds, Series 1989
Retirement Schedule I -3 118
General Obligation School Extension and Improvement Bonds,
Series 1980a Retirement Schedule I -4 119
Asbestos Removal Loan Payable I -5 120
STATISTICAL SECTION
iv
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
Property Value, Construction and Bank Deposits -
Last Ten Fiscal Years
13
135
Miscellaneous Statistical Data - Years Ended June 30, 1981
through June 30, 1990
14
136
iv
SECTION I
INTRODUCTORY SECTION
Annual Report • Kodiak Island Borough, Alaska
- ASSEMBLY MEMBERS-
No Picture
Available
GARY L. STEVENS
At Large, 1992
To the Honorable Mayor and Members of the Kodiak Island Borough Assembly:
In accordance with the provisions of the Kodiak Island Borough Code, there is presented herewith
the comprehensive Annual Financial Report for the year ended June 30, 1990, and the related
statements and statistical tables.
Respectfully submitted, ;
e y(e. Weeks, Direct r of Finance
TOM MERRIMAN
At Large, 1990
ALAN AUSTERMAN
At Large, 1991
Deputy Presiding Officer
JEROME SELBY
Mayor of Kodiak Island Borough, 1992
MARY A. MONROE
At Large, 1992
JACK L. McFARLAND
At Large, 1990
LORNE (LONNIE) WHITE
Presiding Officer of Assembly, 1990
BOB SHUTTLESWORTH
At Large, 1990
BOROUGH OFFICIALS
KODIAK ISLAND BOROUGH
YEAR ENDED JUNE 30, 1990
BOROUGH ASSEMBLY
Alan Austerman 1 91 (Deputy Presiding Officer)
Mary Monroe '92, Tom Merriman 1 90
Robert Shuttlesworth '91 Gary L. Stevens '92
Jack L. McFarland '90 (Presiding Officer) Lorne "Lonnie" White '90
BOROUGH MAYOR
Jerome M. Selby '92
Raymond Camardella . . . . . . . . . . .
Patrick S. Carlson . . . . . . . . . . .
Charles E. "Bud" Cassidy . . . . . . .
Pamela Delys- Baglien . . . . . . . . .
Linda L. Freed . . . . . . . . . . . .
Jamin, Ebell, Bolger, Gentry . . . . .
PerryL. Page . . . . . . . . . . . . .
John D. Salness . . . . . . . . . . . .
Karleton G. Short . . . . . . . . . . .
Earl A. Smith . . . . . . . . . . . . .
Gaye J. Vaughan, CMC . . . . . . . . .
Bryce S. Weeks . . . . . . . . . . . .
MaryAnn Weideman. . . . . . . . . . .
John Witteveen . . . . . . . . . . . .
. .Facilities /Engineering Coordinator
. . . . . . . . .Assessor /Appraiser
. . . . . Resource Management Officer
. . . . . . . . Mental Health Director
. . . . . . . . . Planning Director
. (Contracted Firm) Borough Attorney
. . . . . . . Data Processing Manager
. . . . . . . . Hospital Administrator
. . . . . . . . . . . . . Accountant
. . . . . . . . . . . Fire Chief
. . . . . . . . . . Borough Clerk
. . . . . . Finance Director /Treasurer
Purchasing Agent /Personnel Officer
. . . Superintendent, School District
vi
t
KODIAK ISLAND BOROUGH
1
1
Ll
KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 1990
School Board (5
Suzanne Hancock
Dave Herrnsteen
Alice Knowles
Cheryl McNeil
* Bill Oliver
Hospital Advisory Board (7
Ben Ardinger
Dr. Jon Hlavinka
Gretchen Saupe
* Betty Springhill
Wayne Stevens
Jeannie Volker
Vacant (1)
Citizen Board of Eaualization (5
Parks and Recreation Committee (12
vii
Bu ilding Code Board of ADDeals
(Architectural Review Board) (9
* Bill Beatty
Ron Chase
Cliff Ford
Harold Hannon
Robin Heinrichs
Brian Parsons
Bob Shuttlesworth
James Wheeler
Susan Workman
Personnel Advisory Board (5
Pat Borger
Joanne Demke
Mary McFarland
Letitia Raub
* Walter Sapp
L. Ann Barker
Jim Carmichael
Vickie Case
* Andi Cristaldi
Tom Peterson
Bill Roberts, Alternate
Forrest Blau
Dave Caylor
Ian Fulp
Jon Hartt
Jeri Jensen
Alice Knowles
Bill McClain
Tom Merriman
* David Odell
Elizabeth Odell
Tom Watson
Gloria Wiechmann
Mental Health Center
Advisory Board (9)
1
Josefina Barber
Frank Caprio, Dr.
Frances Cater
* Maureen Eberhardt
Vickie Hester
Mark Houglum
Mary Monore
Linda Mullan
Karen Perkins
Planning and Zoning Commission (7)
Jon R. Aspgren
Bruce Barrett
Wayne Coleman
Jon Hartt
* Robin Heinrichs
Tom Hendel
Jody Hodgins
Citizen Board of Eaualization (5
Parks and Recreation Committee (12
vii
Bu ilding Code Board of ADDeals
(Architectural Review Board) (9
* Bill Beatty
Ron Chase
Cliff Ford
Harold Hannon
Robin Heinrichs
Brian Parsons
Bob Shuttlesworth
James Wheeler
Susan Workman
Personnel Advisory Board (5
Pat Borger
Joanne Demke
Mary McFarland
Letitia Raub
* Walter Sapp
L. Ann Barker
Jim Carmichael
Vickie Case
* Andi Cristaldi
Tom Peterson
Bill Roberts, Alternate
Forrest Blau
Dave Caylor
Ian Fulp
Jon Hartt
Jeri Jensen
Alice Knowles
Bill McClain
Tom Merriman
* David Odell
Elizabeth Odell
Tom Watson
Gloria Wiechmann
Data Processine Steerine Committee (7
Suzanne Hancock
Jack McFarland
Perry Page
* Jerome Selby
Bryce Weeks
John Witteveen
Jocelyn Zwiefelhofer
Fire Protection Area #1
Advisory Board (5)
Scott Arndt
Vernon Berns
Charles Lorenson
* John Shank
Bill Swearingin
Bav View Road Service District
Advisory Board (5)
Dawn Black
Randy Chase
* Ron Chase
Dave Kubiak
Reed Oswalt
Monashka Bav Road Service District
Advisory Board (5)
Cathy Cordry
Don Fox
Dan Ogg
* Bill Swearingin
Joel Wattum
Emereencv Services Council (5
Joseph Blackett, Captain USCG
Bob Brodie
Gordon Gould
* Jerome Selby
Lorne White
* Indicates chair
Service District No. 1
Advisory Board (7)
Scott Arndt
Jim Berg
Vernon Berns
Okey Chandler
Jim Fisk
* Tony Perez
Earl Smith, Jr.
Women's Bav Service District
Advisory Board (7)
* Wayne Berry
Andy Edgerly
Ed Gondek
Carl Hayes
Charles Madsen
Vacant (2)
Kodiak Island Transportation Stud
Steering Committee (KITS) (5)
Alan Austerman
Bob Brodie
* Gordon Gould
Lou Iani
Jerome Selby
Woodland Acres Street Light
Service District Advisory Board (3
Bob Hatcher
Barbara Heinrichs
* Sharon Nault
viii
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Kodiak Island Borough,
Alaska
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1989
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.
-A�
President
C�Lt
epo;x Executive Director
x
M M M M w M M M M M M r M M r r r M M
Borough Assembly
( Alec ted )
rILrIC TO RATE
3fospital
Planning &
Citizens Advisory
Advisory Board
Zoning Comm
Boards /Commission
(Appointed by
(Appointe
(Appointed by
Assembl )
Assembl
Assembly)
Personnel Board
Architectural Review
ffospital
Borough
71
Parks and Recreation
Administrator
Attorney
Board of Equalization
Tlental ffeafth Center
34ospUaL
Borough
Economic Development
Staff
Clerk.
OCS Advisory Council
Building Code Board
of Appeals
XITS Committee
nayor
M ezted)
Service District
Advisory Boards
( Dlec ted )
School Board
(tlec ted )
Monashka Bay
Road Service
District
Womens Bay Road
Service /Fire
District
Service District No.1
-Road, Water, Sewer
Fire District No.I
- Bayview
Woodland Acres
Street
Lighting District
SuperLntendi
of Schools
School Staff
General Community Data T1.ental
Building Develo ment Engineering finance Services Assessing
Inspector Ad is p Department Department Department ffealth
p tration Department Department Center
Kodiak IslandBorough
710 MILL BAY ROAD
KODIAK, ALASKA 99615 -6340
PHONE (907) 486 -5736
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, 1990 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 report of the independent auditor's,
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.
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 on the Alaska Peninsula across the Shelikof
Strait from Kodiak Island. The Shelikof Strait is only 20 miles wide in places. The
Borough encompasses 7,130 square miles, or slightly smaller than the State of
Massachusetts.
xii
September 21, 1990
The Borough was incorporated September 30, 1963 as a Second Class Borough by Chapter
146 Sessions, Laws of Alaska 1961, as amended. The Borough is governed by a strong
Mayor /Assembly form of government. The Borough Assembly is composed of seven members
who are elected at large.
The funds related to the Borough included in our CAFR are considered to be within the
oversight responsibility of the Borough Assembly.
The criteria used in determining the reporting entity are consistent with the
Codification of Governmental Accounting and Financial Reporting Standards Section 2100,
"Defining the Reporting Entity ". Based on these criteria, the various funds and
account groups (being all the funds and account groups of the Borough) shown in the
Table of Contents are included in this report.
II. Economic Condition and Outlook
A. Summary of local economy
After the Exxon Oil Spill of 1989 Kodiak returned to a fishing economy in 1990.
Although some oil spill cleanup was accomplished in 1990, the magnitude was of a much
lower level than it was in 1989. There were no closures of salmon fishing due to the
oil spill in 1990. In 1989 practically the whole salmon fishery was closed.
B. Data regarding major industries affecting the local economy
The Kodiak economy is mainly driven by commercial fishing and 1990 was hot and cold at
the same time. The 1990 sockeye "Red" salmon catch was 5.3 million fish, breaking the
all time record of 4.8 million set in 1901. The Pink salmon return did not
materialize, however. A return of 15.9 million fish with a harvest of 11.8 million was
forecast for 1990 but only 12.9 million returned with a harvest of 5.9 million. Red
salmon typically sell for 5 to 10 times the amount of pink salmon, so the increase in
Reds more than makes up for the decrease in Pinks. The ex- vessel value of the salmon
catch this year was 52.01 million dollars compared to a ten year average of 37.6
million dollars.
The trend in Ground fish has been an increasing catch with a declining value. The ten
year average is 134 million pounds with a value of 100 million dollars, in 1989 the
catch was 208 million pounds with a value of 98 million dollars.
The shellfish (crab) industry is still down with a catch of 31.8 million dollars in
1989 compared to 47.5 million dollars in 1980.
C. Future economic outlook
' The Assembly of the Kodiak Island Borough has again adopted a balanced budget for
fiscal year 1991. 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 six years (see
page xvi). The FY -91 budget contains another draw down of $285,100. 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.
xiii
Starting in 1981 and continuing, our efforts have been to promptly collect those taxes
and other receivables due to the Borough, 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.
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 other capital grants 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 D -3 (pg.
80) 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 I
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
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 and engineering work has been
done. The final plans and possible methods of funding are currently "on hold ".
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 with the product in the most desirable condition for the
consumer. 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
xiv
administration. The Borough provides for education through the Kodiak Island Borough
' School District and has contracted with Lutheran Health Systems Management Company to
operate the Borough Hospital.
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, and
a street light service district.
' 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. 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
the complete control over any 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
xv
Function
General government
Public safety
Public works
Health and sanitation
Education
Culture and recreation
Conservation and
development
Operating transfers
Increase
(Decrease)
Amount Percent Over 1989
(Thousands of Total (Thousands
$ 1,826.5
31.4 %
$ 432.4
74.7
1.3
The amount of revenues from various sources and the increase or
decrease over the
3.9
last year are shown in
the following tabulation:
6.3
(153.8)
61.5
1.1
32.5
180.5
Increase
'
349.8
6.0
68.5
(Decrease)
46.9
Revenue Source and Other
Financing Sources
Amount Percent
(Thousands) of
Total
Over 1989
(Thousands)
,
Property taxes
$ 2,640.4
56.3 8
$ 125.0
Licenses and permits
57.7
1.2
18.5
,
Intergovernmental revenue
1,316.2
28.1
(2,133.7)
Charges for services
27.3
0.6
27.6
Miscellaneous
575.7
12.3
164.7
Operating transfers
68.8
1.5
12.4
'
4,686.1
100.0 $
$ ($ (1,78
2. Summary schedule of
expenditures
'
Changes in levels of expenditures for major General
Fund functions of the Borough
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 1989
(Thousands of Total (Thousands
$ 1,826.5
31.4 %
$ 432.4
74.7
1.3
(13.6)
224.9
3.9
51.0
363.3
6.3
(153.8)
61.5
1.1
32.5
180.5
3.1
19.1
349.8
6.0
68.5
2.722.1
46.9
(274.3
5,803.3
10_ %
161.8
3. Discussion of significant changes in revenues and expenditures
Revenues for general government totaled $4,617,278 and operating transfers were
$68,790. This was a decrease of $1,793,377 and an increase of $12,380,
respectively over 1989. General property taxes produced 56.3% of general revenues
in 1990 compared with 38.9% in 1989.
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.
A change in budgeting for fish tax occurred in fiscal year 1990 and subsequent
years to recognize the tax in the year received. No revenue for this item was
recognized in fiscal year 1990.
xvi
4. Effect of revenue limitations
Capital improvement grants from the State of Alaska have played a major role in the
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
business for 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
1990
1,981,147
C. Proprietary operations
The Kodiak Island Hospital is contracted for management with the Lutheran Health
Systems Management Company. 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 three
fiscal periods, as follows:
Water
Sewer
1988 $ 49,711
$ 177,372
1989 81,440
260,870
1990 95,800
158,587
Landfill
$ 287,447
349,308
95,231
Total
$ 514,530
691,618
349,618
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 or implementation of certain economies must be considered.
xvii
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 the 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
Summary of debt principal outstanding at fiscal year end was:
General obligation, school 1986
General obligation refunding 1989
Environmental Protection Agency loan
2. Review of current year's debt issuances
No new debt obligation was incurred during the past year.
$ 6,000,000
9,310,000
302.083
$15.612.083
xviii
3. Information on advance refundings
' The advance refunding of the GO 1980 school bond issue in 1989 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.
' 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 were
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 monies.
This, in effect, means the Borough, School District, Hospital 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."
' 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
xix
4.
Discussion of debt limitation
The
Statutes of
the State of Alaska and the Code of the Kodiak Island Borough do
obligation bonds are rated as follows:
not
establish a
legal debt margin. Our debt capacity is determined by a vote of
Standard
the
electorate
and ultimately by the marketplace when debt is attempted to be
placed.
' 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 were
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 monies.
This, in effect, means the Borough, School District, Hospital 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."
' 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
xix
S. 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 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 127. You
may note that a per capita high of $1,772 was reached in 1984 during the peak years
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 were
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 monies.
This, in effect, means the Borough, School District, Hospital 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."
' 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
xix
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
$19 million. Interest rates for our fiscal year started off at 8.78 to 9.78 in
early July 1989. At year -end of June 30, investments were earning from 7.98 to
8.58 for an average yield of 8.248. We closed out the year with investment
earnings for all funds in the of amount $2,383,547.
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 past years 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
In recent years, insurance premium costs have
excess of a million dollars annually.
expenditure item for the Borough. ,
risen considerably and are now in
xx
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. This has again been accomplished and a copy of this report
is used and is on file.
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 and again for the fiscal year ended June 30, 1989.
' 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.
xxi
fl
2. Government Finance Officers Association Distinguished Budget Presentation
Award I
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 submitted the fiscal year 1991 budget to GFOA and received the Distinguished
Budget Presentation 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
xxii
SECTION 2
FINANCIAL SECTION
101 West Benson Boulevard Telephone 907 563 4444
Anchorage, AK 99503
Price Waterhouse
INDEPENDENT AUDITOR'S REPORT
September 21, 1990
To the Mayor and Members
of the Assembly
Kodiak Island Borough
We have audited the accompanying general purpose financial statements of
Kodiak Island Borough as of June 30, 1990, 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 did not audit the financial
statements of Kodiak Island Hospital and Care Center, which represent 328
of the total assets and 778 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.
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.
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, 1990, and the results of its operations and
cash flows of its Enterprise 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 general purpose financial
statements of the Kodiak Island Borough. Such information has not been
subjected to the auditing procedures applied in the audit of the general
purpose financial statements and, accordingly, we express no opinion on
it.
i
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND '- ,COUN '? OUP$
JUNE 30, 1990
See accompanying notes to the general purpose financial statements
2
Governmental Fund Types
Special
Debt Capital
ASSETS
General
Revenue
Service Projects
Current assets:
Equity in central treasury
$ 110,383
$ 134,790
$ 151,675 $1,107,488
Temporary investments
5,533,336
2,280,886
6,846,042 969,187
Other cash and cash equivalents
2,456
38,889
397,585 -
Investment in deferred
compensation plan
-
-
- _
Receivables:
State of Alaska
50,859
1,387,389
- 89,147
Federal Government
-
61,094
- -
Property taxes, net of
allowance of $13,327 in
1990 and $11,773 in 1989
15,313
-
- -
Land sales contracts,
due within one year
-
245,276
- -
Other, net of allowance
for doubtful receivables
of $433,000 in 1990 and
$516,643 in 1989
111,794
105,224
91,344 16,987
Due from other funds
-
2,444,008
168,270 1,063,768
Inventories
-
207,387
- -
Prepaids
158,894
427,345
- -
Restricted assets:
Equity in central treasury
-
-
Temporary investments
-
Interest receivable
-
-
Land sales contracts receivable,
due after one year
-
1,368,020
- -
Borough designated investment
-
-
- -
Amount available to service
long -term debt in Debt
Service Funds
-
-
- -
Amount to be provided to
service long -term debt
-
-
- -
Fixed assets in service
-
-
- -
Accumulated depreciation
-
-
- -
Construction work in progress
-
-
- -
Other
Total assets
$5,983.035
$8,7�
$7.654,916 $3,2
See accompanying notes to the general purpose financial statements
2
EXHIBIT 1
Proprietary Fiduciary Totals
Fund Type Fund Type Account Groups (Memorandum Only)
Agency General General Long -
Enterprise Fund TyRe Fixed Assets Term Debt 1990 1989
$ 364,879 $ - $ - $ - $ 1,869,215 $ 821,453
15,629,451 12,998,394
2,370,163 97,465 - - 2,906,558 3,306,468
- 622,980 - - 622,980 519,926
- - - 1,527,395 3,670,758
61,094 -
15,313 9,363
- 245,276 343,529
1,428,804
- - - 1,754,153
2,452,620
-
- - - 3,676,046
2,668,945
213,502
- - - 420,889
462,659
14,455
- - - 600,694
100,699
20,160
- - - 20,160
-
481,556
- - - 481,556
476,382
15,794
- - - 15,794
9,316
-
- - - 1,368,020
1,471,044
767,567
- - - 767,567
638,658
-
- - 6,835,420 6,835,420
5,945,729
-
- - 8,928,338 8,928,338
11,513,662
23,923,053
- 76,154,138 - 100,077,191
94,198,045
(4,132,709)
- - - (4,132,709)
(3,685,933)
31,410
- 1,819,351 - 1,850,761
7,020,894
239
$25,498,634
$ 720,445 $77,973,489 $15,763.758 $145,541,162
$144,942,850
Continued
3
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1990
LIABILITIES AND
FUND EQUITIES
Liabilities:
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:
Due to other funds
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
Health insurance
Fiscal Year 1991 PL -874
Unreserved:
Designated for subsequent year
expenditures
Undesignated
Total fund equities
Governmental Fund Types
Special Debt Capital
General Revenue Service Projects
$ 40,076 $ 513,998 $ 1,260 $ 2,033
- - - 2,622
573,572 - -
- 818,171 -
934 -
- 300 - _
1,774,837 - 608,266
3,960,878 413,802 818,236 -
4.0 1,888 4,094,680 819,496 612,921
2,051 47,084 - 94,028
- 85,937 - -
- 200,000 - -
207,072 - -
1,979,096 760,000 6,835,420 1,606,510
- 3,305,535 - 933,118
1,981,147 4,605,628 6,835,420 2,633,656
$5,983,035 $8,7� $7,654 $3,24
See accompanying notes to the general purpose financial statements
LA
EXHIBIT 1 (Continued)
Proprietary
Fiduciary
Totals
Fund Type
Fund Tvoe
Account Groups
(Memorandum
Only)
Agency
General General Long -
Enterprise
Fund Type
Fixed Assets Term Debt
1990
1989
$ 340,198
$ 5,053
$ - $ -
$ 902,618 $
1,214,827
_
_
_ -
2,622
87,932
-
_
- -
573,572
669,798
346,176
-
- -
1,164,347
1,159,639
21,613
-
- -
22,547
24,598
14,441
-
- -
14,741
11,955
-
_
_ -
2,383,103
2,592,683
-
622,980
- -
622,980
519,926
_
-
- -
5,192,916
2,662,890
-
92,412
- -
92,412
92,360
_
-
_ _
-
6,055
-
-
- 151,675
151,675
136,481
-
-
- 15,310,000
15,310,000
17,550,000
302,083
302,083
322,910
722,428
720,445
- 15,763,758
26,735,616
27,052,054
19,899,311
-
- -
19,899,311
20,368,863
-
-
77,973,489 -
77,973,489
77,114,448
4,876,895
-
- -
4,876,895
5,527,209
- 143,163 654,051
- 85,937 82,952
- 200,000 -
- 207,072 -
- 11,181,026 10,115,084
4,238,653 4,028,189
24,776,206 77,973,489 - 118,805,546 117,890,796
$25,498,634 $720,445 $77,973,489 $15,763,758 $145,541,162 $144,942,850
5
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES. EXPENDITURES AND
CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30, 1990
See accompanying notes to the general purpose financial statements
6
Special
General
Revenue
Revenues:
Property taxes
S 2,640,044
S 255,761
Intergovernmental:
State sources
1,309,940
18,716,230
Federal sources
6,298
2,343,484
Land sale proceeds
-
370,886
Exxon reimbursement
-
187,0
Insurance proceeds
-
_
Asbestos settlement
-
-
Licenses, permits, fees and other local revenues
120,145
519,524
Investments and property
540,851
740,814
Total revenues
4,617,278
23,133.771
Expenditures:
Current:
Borough Assembly
66,425
-
Mayor's department
171,549
-
Clerk's department
24 883
-
Finance department
257 692
-
Legal department
178,58
-
Consolidation committee
-
-
Assessment department
205,157
-
Community development department
301,586
36,810
Engineering /Facilities department
224,975
_
Health and sanitation
367,921
1,808,616
Data services
198,168
-
Resource management
61,759
-
General administration
371,624
755,152
Building inspector's department
65,939
-
Emergency preparedness
8,754
_
Community and regional affairs liaison
2,586
-
Education support
54,150
16,452,193
Economic development
48,244
_
Switchboard /Word processing
71,689
_
Culture and recreation
180,500
-
Oil spill cleanup
-
1,975,506
Capital outlay:
Capital improvements
-
39,083
Schools
_
_
Service district maintenance
-
194,528
General
-
-
Debt service
-
Total expenditures
3,081,190
21.261,888
Excess (deficiency) of revenues over expenditures
1,536,088
1,871.883
Other financing sources (uses):
Demand bond principal payments
-
-
Proceeds of refunding bonds
Payments to refunding bond escrow agent
Operating transfers in
68,790
2,710,000
Operating transfers out
(2,722,102
(3,963,027
Net other financing sources (uses)
(2,653,312
(1,253,027
Excess (deficiency) of revenues and other financing
sources over expenditures and other financing uses
(1,117,224)
618,856
Fund balance at beginning of year
3,098,371
3,983,787
Adjustment to reserve for fuel inventory
2,985
Fund balances at end of year
S 1,981,147
S 4,605,628
See accompanying notes to the general purpose financial statements
6
EXHIBIT 2
7
Totals
(Hemorandue Only)
Debt
capital
Service
Proiects
1990
1989
S -
f -
f 2,895,805
f 2,725,708
-
663,230
20,689,400
23,200,981
-
-
2,349,782
1,010,297
-
-
370,886
377,586
-
-
187,072
1,013,079
-
-
366,904
-
8,316
8,316
647,480
-
-
639,669
779,306
490.768
281,377
2,053,810
1,469,534
490.768
952,923
29,194.740
31.590.875
-
-
66,425
65,716
-
-
171,549
127,046
-
-
243,883
193,671
-
-
257,692
208,486
-
-
178,589
81,290
-
-
-
13,308
-
-
205,157
174,257
-
-
338,396
309,453
-
-
224,975
136,907
-
-
2,176,537
2,119,066
-
-
198,168
145,512
-
-
61,759
58,663
-
-
1,126,776
1,032,883
-
-
65,939
-
-
-
8,754
28,357
-
-
2,586
4,551
-
-
16,506,343
15,727,009
-
-
48,244
30,817
-
-
71,689
69,592
-
-
180,500
161,460
-
-
1,975,506
1,083,905
-
-
39,083
44,633
-
707,827
707,827
4,825,007
-
-
194,528
119,596
-
208,829
208,829
2,436,386
3,239.416
-
3,239,416
6,584,817
3,239,416
916,656
28,499,150
35,782,388
(2.748,648
36.267
695,590
(4.191.513
-
550,000
550,000
2,200,000
-
-
-
10,114,878
-
-
-
(10,114,878)
3,638,339
1,015,500
7,432,629
10,758,052
-
(820,500
(7.505,629
(11.093.052
3.6 8,339
745,000
477,000
1,865.000
889,691
781,267
1,172,590
(2,326,513)
5,945,729
1,852,389
14,880,276
17,197,519
2.985
9.270
S 6,835,420
$2,633,656
$16,055,851
ff 1 4.880.276
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, 1990
Excess (deficiency) of revenues and
other financing sources over expen-
ditures and other financing uses $(1,771,470 (1,117,224) S 654,246 SS (4� 618,856
Fund balance at beginning of year 3,098,371 3,983,787
Adjustment to reserve for
fuel inventory 2,985
Fund balances at end of year $ 1,981,147 SS 4,60
See accompanying notes to the general purpose financial statements
8
General Fund
SDecial Revenue Funds
Variance -
Favorable
Budget
Actual (Unfavorable)
Budget
Actual
Revenues:
Property taxes
S 2,644,700
S 2,640,044
S (4,656)
S 243,640
S 255,761
Intergovernmental:
State sources
1,181,140
1,309,940
128,800
16,364,968
16,930,426
Federal sources
4,430
6,298
1,868
2,383,183
2,343,484
Land sale proceeds
-
-
-
309,440
370,886
Licenses, permits, fees and
other local revenues
77,600
120,145
42,545
675,625
516,894
Investments and property
131.700
540,851
409,151
401.860
740.814
Total revenues
4.039.570
4.617,278
577,708
20.378,716
21.158.265
Expenditures:
Current:
Borough Assembly
92,800
66,425
26,375
-
-
Mayor's department
186,270
171,549
14,721
-
-
Clerk's department
236,190
243,883
(7,693)
-
-
Finance department
264,130
257,692
6,438
-
-
Legal department
135,150
178,589
(43,439)
-
-
Assessment department
207,760
205,157
2,603
-
-
Community development department
305,310
301,586
3,724
56,000
36,810
Engineering department
287,860
224,975
62,885
-
-
Health and sanitation
363,250
367,921
(4,671)
1,954,910
1,808,616
Data services
202,070
198,168
3,902
-
-
Resource management
68,790
61,759
7,031
-
-
General administration
360,990
371,624
(10,634)
914,340
755,152
Building inspector
70,000
65,939
4,061
-
-
Emergency preparedness
20,000
8,754
11,246
-
-
Community and regional
affairs liaison
5,700
2,586
3,114
Education support
61,500
54,150
7,350
16,980,337
16,452,193
Economic development
50,000
48,244
1,756
-
-
Switchboard /Word processing
68,560
71,689
(3,129)
-
-
Culture and recreation
180,500
180,500
-
-
-
Capital outlay:
Capital improvements
-
-
-
70,000
39,083
Service District Maintenance
-
-
-
168,290
194,528
Debt service:
Principal
-
-
-
_
_
Interest
-
Fiscal agent fees
-
Other
-
-
_
_
Total expenditures
3.166.830
3,081.190
85,640
20.143,877
19,286,382
Excess (deficiency) of revenues
over expenditures
872.740
1.536,088
663.348
234.839
1,871.883
Other financing sources (uses):
Operating transfers in
68,790
68,790
-
2,774,785
2,710,000
Operating transfers out
(2.713,000
(2.722,102
(9,102
(3,410.411
(3.963.027
Net other financing sources (uses)
(2.644,210
(2,653,312
(9,102
(635,626
(1,253.027
Excess (deficiency) of revenues and
other financing sources over expen-
ditures and other financing uses $(1,771,470 (1,117,224) S 654,246 SS (4� 618,856
Fund balance at beginning of year 3,098,371 3,983,787
Adjustment to reserve for
fuel inventory 2,985
Fund balances at end of year $ 1,981,147 SS 4,60
See accompanying notes to the general purpose financial statements
8
EXHIBIT
9
Debt Service Funds
Totals
(Memorandum Only)
Variance -
Variance -
Variance -
Favorable
Favorable
Favorable
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
S 12,121
f -
f -
S -
S 2,888,340
S 2,895,805
S 7,465
565,458
-
-
-
17,546,108
18,240,366
694,258
(39,699)
-
-
-
2,387,613
2,349,782
(37,831)
61,446
-
-
-
309,440
370,886
61,446
(158,731)
-
-
-
753,225
637,039 g31�307
(116,186)
338.954
200,000
490,768
290,768
73 3.560
1.772.433 1,038.873
779.549
200,000
490,768
290.768
24,618.286
26,266.311
1,648.025
-
-
-
-
92,800
66,425
26,375
-
-
-
-
186,270
171,549
14,721
-
-
-
-
236,190
243,883
(7,693)
-
-
-
-
264,130
257,692
6,438
-
-
-
-
135,150
178,589
(43,439)
-
-
-
-
207,760
205,157
2,603
19,190
-
-
-
361,310
338,396
22,914
-
-
-
-
287,860
224,975
62,885
146,294
-
-
-
2,318,160
2,176,537
141,623
-
-
-
-
202,070
198,168
3,902
-
-
-
-
68,790
61,759
7,031
159,188
-
-
-
1,275,330
1,126,776
148,554
-
-
-
-
70,000
65,939
4,061
-
-
-
-
20,000
8,754
11,246
-
-
-
-
5,700
2,586
3,114
528,144
-
-
-
17,041,837
16,506,343
535,494
-
-
-
-
50,000
48,244
1,756
-
-
-
-
68,560
71,689
(3,129)
-
-
-
-
180,500
180,500
-
30,917
-
-
-
70,000
39,083
30,917
(26,238)
-
-
-
168,290
194,528
(26,238)
-
2,260,840
2,260,833
7
2,260,840
2,260,833
7
-
1,016,230
909,334
106,896
1,016,230
909,334
106,896
-
140,000
54,086
85,914
140,000
54,086
85,914
-
732,930
15.163
717.767
732,930
15,163
717.767
857.495
4.1 0,000
3.239,416
910.584
27,460.707
25.606,988
1,853,719
1.637,044
(3,950,000
(2,748,648
1,201,352
(2.842.421
659,323
3.501,744
(64,785)
3,162,220
3,638,339
476,119
6,005,795
6,417,129
411,334
(552,616
(15,000
-
15.000
(6.138.411
(6,685,129
(546.718
(617,401
3.147,220
3.638,339
491,119
(132.616
(268.000
(135,384
51,019,643
S (802.780
889,691
$1,6
S(2
391,323
$3,366,360
5,945,729
13,027,887
-
2.985
S 6,835,420
$13,422,195
9
EXHIBIT 4
KODIAK ISLAND BOROUGH
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINED STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN RETAINED EARNINGS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Operating expenses:
Personal services
1990
1989
Revenues:
887,439
609,171
Water sales
$ 191,450
$ 182,051
Sewer service charges
234,935
230,147
Refuse collection
945,714
503,569
Sanitary landfill user fees
227,933
162,207
Patient revenues
5,945,858
6,105,723
Installation charges
7,117
2,348
Other
139.302
207.077
Total revenues
7.692.309
7.393.122
Operating expenses:
Personal services
221,966
300,672
Waste collection
887,439
609,171
Purchased water and sewer treatment
297,243
281,873
Contracted services
23,465
-
Repairs and maintenance
54,152
42,925
Depreciation
696,787
717,679
Installation costs
-
1,912
Professional care of patients
3,379,435
3,109,657
Plant operations and household
618,580
592,110
General administrative
2,592,648
1,899,789
Other
450.020
571.917
Total operating expenses
9.221.735
8.127.705
Operating loss
(1.529.426
(734.583
Other income:
Interest income
329,737
280,362
Other, primarily State of Alaska
revenue sharing
93.335
133.434
423.072
413.796
Loss before operating transfers
(1,106,354)
(320,787)
Operating transfers in
73.000
335.000
Net earnings (loss)
(1,033,354)
14,213
Amortization of contribution in aid of construction
383.040
401.913
Increase (decrease) in retained earnings
(650,314)
416,126
Retained earnings at beginning of year
5.527.209
5.111.083
Retained earnings at end of year $ 4.876.895 $5.5
See accompanying notes to the general purpose financial statements
10
' KODIAK ISLAND BOROUGH
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
COMBINED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
EXHIBIT 5
See accompanying notes to the general purpose financial statements
11
1990
1989
Operating loss
((1,529,426)
S (734,583)
Adjustments to reconcile operating loss
to net cash provided by operating activities:
Depreciation
696,787
717,679
Change in provision for uncollectible accounts
(82,718)
204,000
Changes in assets and liabilities:
Accounts receivable -
Customers and patients
383,911
(585,824)
Lutheran Hospitals and Homes Society of America
-
283,141
City of Kodiak
103,749
(97,498)
Third party patient payors
(21,394)
151,947
Prepaid expenses
86,244
(100,699)
Inventories at cost
(22,619)
(17,080)
Receivable from State of Alaska
-
367,812
Accounts payable
211,351
76,847
Due to other funds
(10,525)
10,525
Customer deposits
2,786
4,354
Accrued compensation
(966)
106,691
Other accrued liabilities
638
15,008
Total adjustments
1.347.244
1,136.903
Net cash provided by (used for) operating activities
(182,182
402.320
Cash flows from noncapital financing activities:
State of Alaska, Revenue Sharing payments received
109,460
236,900
Operating grants received
-
1,591
Operating transfers -in from other funds
73.000
335.000
Net cash provided by noncapital financing activities
182.460
573.493
Cash flows from capital and related financing activities:
Payments made on contracts
-
(60,646)
Acquisition and construction of capital assets
(274,423)
(615,096)
Net borrowings (repayments) on interfund
capital - related expenditures
(6,055)
6,055
Receipt of gifts restricted by donor for capital purchases
11,616
23,994
Proceeds from sale of equipment
35,187
-
Net cash used for capital and related financing
activities
(233,675
(645.693
Cash flows from investing activities:
Repayment of loan to Lutheran Hospitals and Homes Society
of America
-
1,846,000
Change in assets whose use is limited by the Borough
(128,909)
171,739
Interest and dividends paid on investments
323.259
271,046
Net cash provided by investing activities
194.350
2.288.785
Net change in cash and cash equivalents
(39,047)
2,618,903
Cash and cash equivalents at beginning of year
3.275.805
656,902
Cash and cash equivalents at end of year
S 3.236.758
$3.275.805
See accompanying notes to the general purpose financial statements
11
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
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 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,
also 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, 1989, and the results of operations and cash flows 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
13
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued):
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. Nor 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 of equipment and acquisition or construction of
major capital facilities.
14
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued):
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.
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.
15
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Scope and Presentation of Financial Statements (Continued):
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.
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 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 (the
Borough's Proprietary Fund Type) 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.
16
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
B. Basis of Accounting (Continued):
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.
' 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 are then mailed on or before July 1st.
Taxes are due when billed and generally become delinquent on or after October 15th.
' The Borough code also provides for split payments. If a taxpayer avails himself of
this provision then one half must be paid on or before August 15th and the second half
then becomes due on or before November 15th (in lieu of October 15th). Borough
property tax revenues are recognized in the fiscal year for which they are levied and
in which they become measurable and available.
All taxes are delinquent on and after November 16th and a tax foreclosure process
commences as outlined in Alaska Statutes Title 29. Briefly this entails the petition
for Judgment of Foreclosure signed by the District Court Judge and the publication of
all delinquent taxes in the local newspaper for four consecutive weeks.
' When copies of these actions are filed with the courts delinquent properties have been
effectively liened upon (generally in November).
' 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
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
I ' expenditures in the period in which the expenditures were incurred.
1 17
Prepayment
of insurance and similar services
extending over more than one year is
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 are then mailed on or before July 1st.
Taxes are due when billed and generally become delinquent on or after October 15th.
' The Borough code also provides for split payments. If a taxpayer avails himself of
this provision then one half must be paid on or before August 15th and the second half
then becomes due on or before November 15th (in lieu of October 15th). Borough
property tax revenues are recognized in the fiscal year for which they are levied and
in which they become measurable and available.
All taxes are delinquent on and after November 16th and a tax foreclosure process
commences as outlined in Alaska Statutes Title 29. Briefly this entails the petition
for Judgment of Foreclosure signed by the District Court Judge and the publication of
all delinquent taxes in the local newspaper for four consecutive weeks.
' When copies of these actions are filed with the courts delinquent properties have been
effectively liened upon (generally in November).
' 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
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
I ' expenditures in the period in which the expenditures were incurred.
1 17
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
B. Basis of Accounting (Continued):
Revenue from Investments and Property
Amounts earned on investment of available cash balances and the rental of building
facilities are recorded in the period to which they relate, including accrual at year
end of the balance due.
Land Sales Proceeds and Other Local Revenues
Amounts received pursuant to land sale contracts (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, the budget is legally enacted through passage of an ordinance by
Borough Assembly action. If the Borough Assembly fails to pass an ordinance,
the budget submitted by the Mayor becomes the adopted budget.
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:
18
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Budgets and Budgetary Accounting (Continued):
(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.
(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.
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 Capital Projects Funds and the Oil Spill Clean Up Fund are
budgeted on an annual basis encompassing a fiscal year. Budgets of Capital
Project Funds and the Oil Spill Clean Up Fund generally encompass the period
from start up to project completion which is generally greater than one year.
g. Appropriations lapse at year end to the extent that they have not been
expended for all funds except Capital Projects Funds and the Oil Spill Clean
Up Fund, which lapse at project completion.
h. The budget amounts of the combined statements do not agree to the total of
the budgets in the individual Special Revenue Funds. Expenditures and
related budget amounts are presented in a grant -to -date format for grants
extending beyond one fiscal year. The combined statements include only
budget amounts for the year ended June 30, 1990.
' i. Budgets adopted by the Borough Assembly are in accordance with generally
accepted accounting principles.
' Reductions in appropriations of $201,480 for the Mental Health Center and
$4,100 for Woman's Bay Road Service District were enacted during fiscal year
1990.
1 19
j. Additional appropriations of $165,350
for the General Fund,
$35,00 for Alaska
Coastal Management Grants, $3,573,600
for the Oil Spill Fund,
$20,000 for the
Monashka Bay Road Service District,
$15,000 for Debt
Service - Other,
t
$835,351 for Borough Various Projects,
$100,000 for School
Bond Improvements
and $310,290 for State Capital Grants
were enacted during
the year.
' Reductions in appropriations of $201,480 for the Mental Health Center and
$4,100 for Woman's Bay Road Service District were enacted during fiscal year
1990.
1 19
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Budgets and Budgetary Accounting (Continued):
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, 1990, 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.
ENCUMBRANCES
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.
20
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
D. Assets, Liabilities and Fund Equity (continued):
INVENTORIES
The Kodiak Island Borough
Expendable operating supplies of the Borough are accounted for using the purchase
method and, at June 30, 1990, there were no significant amounts 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 cost, 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, with cost determined on a first -in, first -out
(FIFO) 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.
21
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
E. Cash Flows
For purposes of the statement of cash flows, the Water Utility Fund, Sanitary Services
fund, Sewer Utility Fund and Hospital Fund considers all highly liquid investments
(including restricted assets) with a maturity of three months or less when purchased
to be cash equivalents.
Reclassification
The 1989 Statement of Changes in Financial Position was restated to a Statement of Cash
Flows to conform to the 1990 Statement of Cash Flows. There was no effect on
previously reported excess (deficiency) of revenues and other financing sources over
expenditures and other financing uses, net earnings (loss), fund balance or fund
equity.
NOTE 2 - CASH AND TEMPORARY INVESTMENTS
Cash balances of most Borough funds are pooled in a central treasury. Each fund type's
portion of this pool is displayed on the combined balance sheet as "Equity in central
treasury ". In addition, investments are separately held by several of the Borough's
funds. Investments, other than the investment in the deferred compensation plan, which
is carried at market value, and carried at cost.
Deposits
At June 30, 1990, the carrying amount of the Borough's deposits was $2,292,551 and the
bank balance was $3,036,387. The insured and collateral status of the year end bank
balance was as follows:
Status
Covered by federal depository
held by the Borough's agent
Covered by collateral held in
department in the Borough's
Uninsured and uncollateralized
Total deposits
Investments
Amount
insurance or by collateral
in the Borough's name $2,618,263
the pledging bank's trust
name _
418.124
$3,036,387
Statutes authorize the Borough to invest in obligations of the United States, the State
of Alaska and its political subdivisions, savings accounts, certificates of deposit,
banker's acceptances, repurchase agreements and such other legal security instruments.
The Borough Code requires all investments to be collateralized and /or insured.
Collateral pledged on investments is required to be held for the Borough by a third
party bank.
22
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 2 - CASH AND TEMPORARY INVESTMENTS (Continued)
In accordance with Governmental Accounting Standards Board Statement No. 3 (GASB 3)
investment are categorized as follows: Category 1 includes investments that are
insured, or registered, or securities held by the Borough or its agent in the Borough's
name. Category 2 includes uninsured and unregistered investments with securities held
by the broker's or dealer's trust department or agent in the Borough's name. Category
3 includes uninsured unregistered investments, for which the securities are held by the
broker or dealer or by its trust department or agent in the Borough's name.
Equity in central treasury
Temporary investments
Other cash and cash equivalents
Investment in deferred compensation plan
' Restricted equity in central treasury
Restricted temporary investments
Total deposits and investments
$ 1,869,215
15,629,451
2,906,558
622,980
20,160
481.556
$21,529,920
1 23
The
Category
of $2,292,551 and investments of
$19,237,369, totalling $21,529,920,
are
reported under
Carrying
Market
1
2 3
Amount
Value
Repurchase agreements
S -
S 3,000,000 S -
S 3,000,000
S 3,000,000
U.S. Government Securities
2,000,000
- -
2,000,000
2,004,544
Banker's Acceptances
6,782,189
2,408,091 -
9,190,280
9,248,097
Commercial Paper
958,752
961,976 -
1,920,728
1,961,575
Money Market Account
217,382
- -
217,382
217,698
Investments held by fiscal agent
for debt service
-
181.203
- 181,203
182.405
SS 9 .958.3 23
SS 6�
16,509,593
16,614.319
1CMA - Deferred Compensation Plan
622,980
622,980
Hospital's Mutual Fund
2,104,796
2,104.796
Total Investments
S19,2�
$19,395
Equity in central treasury
Temporary investments
Other cash and cash equivalents
Investment in deferred compensation plan
' Restricted equity in central treasury
Restricted temporary investments
Total deposits and investments
$ 1,869,215
15,629,451
2,906,558
622,980
20,160
481.556
$21,529,920
1 23
The
above deposits
of $2,292,551 and investments of
$19,237,369, totalling $21,529,920,
are
reported under
the following captions in the
combined financial statements:
Equity in central treasury
Temporary investments
Other cash and cash equivalents
Investment in deferred compensation plan
' Restricted equity in central treasury
Restricted temporary investments
Total deposits and investments
$ 1,869,215
15,629,451
2,906,558
622,980
20,160
481.556
$21,529,920
1 23
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 2 - CASH AND TEMPORARY INVESTMENTS (Continued)
Investments made by the Borough are identified by the specific funding source. A summary of these investments at cost
on June 30, 1990 follows:
24
Special
Debt
Capital
General
Revenue
Service
Projects
Enterprise
Agency
Fund
Funds
Funds
Funds
Funds
Funds
Total
Repurchase agreements:
National Bank of Alaska
7.94%
S -
f -
11,000,000
S -
f -
S -
S 1,000,000
8.0
-
-
1,000,000
-
-
-
1,000,000
8.02
650,000
350,000
-
-
1,000,000
650,000
350,000
2,000,000
-
-
3,000.000
United States Government
Securities:
Seattle First National
Bank
8.3%
1,000,000
-
-
-
-
-
1,000,000
8.475
1,000,000
-
-
1,000,000
2.000.000
-
-
2,000,000
Banker's Acceptances:
Bateman Eichler, Hill
Richards, Inc.
8.010%
-
-
-
487,632
-
-
487,632
8.312
959,674
-
-
-
-
-
959,674
8.396
-
-
960,785
-
-
-
960,785
Merrill lynch, Pierce,
Fenner and Smith, Inc.
8.256%
-
-
962,900
-
-
-
962,900
8.257
-
-
-
481,555
482,557
-
964,112
8.392
964,910
-
-
-
-
-
964,910
8.486
-
-
960,382
-
-
-
960,382
Seattle First Bank
8.172%
-
-
1,000,000
-
-
-
1,000,000
8.195
-
964,011
-
-
-
-
964,011
8.222
-
966,875
-
-
-
-
966,875
7924,584
1.930,886
3,884,067
969.187
482,557
-
9,191,281
Commercial Paper:
Bateman Eichler, Hill
Richards, Inc.
8.085%
-
-
961,975
-
-
-
961,975
Seattle First Bank
8.724%
958,752
-
-
-
-
-
958,752
958,752
961,975
-
1,920,727
Total temporary
investments
5,533,336
2,280,886
6,846,042
969,187
482.557
-
16,112,008
Hospital's Mutual Fund
-
-
-
-
2,104,796
-
2,104,796
Various investments
with ICMA -RC (IRS 457)
-
-
-
-
-
622,980
622,980
Money Market:
Merrill lynch, Pierce,
Fenner and Smith, Inc.
-
-
216,382
-
-
-
216,382
Investments held by
Fiscal agent for
debt service
-
181.203
-
-
-
181,203
Total investments
$5,533,336
$2,280,886
$7,243,627
$969,187
$2,587,353
$622,980
$19,237,369
24
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 3 - ANNUAL APPROPRIATION TO THE SCHOOL DISTRICT:
An annual appropriation is made to the School District in order to provide the School
District with total resources. in a fiscal year equal in amount to budgeted
expenditures.
In addition to the annual appropriation, the Borough provides the School District,
without charge, general liability and property insurance and the annual independent
audit.
NOTE 4 - HOSPITAL APPROPRIATION
By terms of the operating agreement with the Lutheran Health Systems Management
Company, the Borough is ultimately responsible for operating losses (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, 1990, substantially all employees of the Borough and School District
participate in either the Alaska Public Employees' Retirement System (PERS, an agent
multiple - employer PERS) or the Alaska Teachers' Retirement System (TRS, a cost - sharing,
multiple - employer PERS). Borough personnel and School District classified personnel
(except those working less than fifteen hours per week) participate in PERS. School
' District certificated personnel participate in TRS. Both systems are statewide defined
benefit retirement plans, administered by the State of Alaska.
1 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
28 of the member's three highest average monthly compensation for the first ten years
of service, 2 -1/48 for the second ten years of service and 2 -1/28 for the third ten
years of service. All service earned prior to July 1, 1986 will be calculated using
the 28 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 6.758 of their annual
salary to the System and the Borough contributes the amount actuarially required in
addition to employee contributions to finance the benefits of the system.
1 25
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 5 - RETIREMENT COMMITMENTS (Continued)
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 28 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
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.
Funding Status and Progress
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, 1989 (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.
26
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 5 - RETIREMENT COMMITMENTS (Continued)
Funding Status and Progress (Continued)
The pension benefit obligation of PERS and TRS as calculated in the most recent
actuarial valuation is as follows (in thousands):
PERS TRS (1)
School All
orou h District Employers
Pension benefit obligation:
Retirees and beneficiaries currently receiving
benefits and terminated employees not yet
receiving benefits
Current employees:
Accumulated employee contributions including
allocated investment earnings
Employer -- financed vested
Employer -- financed nonvested
TOTAL PENSION BENEFIT OBLIGATION
$1,518 $3,298 $ 779,296
445 787 253,436
1,038 2,286 436,431
327 960 88.480
3,328 7,331 1,557,643
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 3,468 7.794 1.480.389
ASSETS IN EXCESS OF (UNFUNDED)
PENSION BENEFIT OBLIGATION
140 463 $ (77,254
(1) The TRS system does not make separate measurements of assets and pension
benefit obligation for individual employers. Amounts for TRS represent the
system as a whole. The School District's actuarially determined contribution
was 1.38 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.
27
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 5 - RETIREMENT COMMITMENTS (Continued
Funding Status and Prog (Continued):
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 1990 were made in
accordance with actuarially determined requirements computed through an actuarial
valuation performed as of June 30, 1988. The contributions (in thousands) consisted
of the following:
PERS
Borough
Percent of
Covered
Amount Payroll
Covered payroll- $2.37
Contributions -
Normal cost -
Total contributions paid 287
Amortization of unfunded liability
TOTAL S 287
Required contributions -
Employer S 127
Employee 160
TOTAL S 287
10�%
PERS
School District
Percent of
Covered
Amount Payroll
52,562 100.00
TRS
Percent of
Covered
Amount Payroll
$7.674 100.00%
12.09
282
11.02
1292
16.84
-
138
1.80
12.09
S 282
11.02
L
18.64
5.34%
S 109
4.27%
S 893
11.64%
6.75
173
6.75
537
7.00
12.09
S 282
11.02%
51,430
18.64%
In addition to the required TRS contributions noted above, the School District made
supplemental and arrearage payments of $51,359 during the year.
Total current year payroll for the Borough and School District was $2,724,228 and
$10,552,031 respectively.
28
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 5 - RETIREMENT COMMITMENTS (Continued)
Historical Trend Information
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, 1989, 1988, and 1987 is available regarding the following trend
indicators, (in thousands):
PERS
School
Borough District
Net asset available for benefits: 1987 $2,222 $5,685
1988 2,896 7,111
1989 3,468 7,794
Pension benefit obligation (PBO):
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
$1,929
$5,085
1988
2,680
6,477
1989
3,328
7,331
1987
115%
112%
1988
108
110
1989
104
106
1987
$ 294
$ 600
1988
216
634
1989
140
463
1987
$1,830
$2,473
1988
2,131
2,526
1989
2,373
2,562
1987
16.07%
24.26%
1988
10.14
25.10
1989
5.90
16.20
1987
6.75%
6.75%
1988
6.75
6.75
1989
6.75
6.75
1990
6.75
6.75
1987
4.278
7.29%
1988
9.20
6.24
1989
9.20
6.24
1990
5.34
4.27
29
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 6 - FIRED ASSETS
A summary of changes in the General Fixed Assets Account Group for the year ended June
30, 1990 follows:
Land
Buildings
Improvements other than
buildings
Machinery and equipment
Construction work in progress
Balance Balance
July 1. 1989 Additions Deductions June 30. 1990
$ 7,469,315 $ - $ - $ 7,469,315
58,659,261 5,811,262 167,935 64,302,588
842,139 - - 842,139
3,232,446 414,984 107,334 3,540,096
6,911,287 687.492 5,779,428 1,819,351
$77,114,448 $6,9_ $6,0_ $77,973,489
The following is a summary of enterprise fund type fixed assets at June 30, 1990:
Unclassified utility plant in service $17,874,572
Hospital building and fixed equipment 4,193,858
Major movable equipment 1.854.623
23,923,053
Less: accumulated depreciation (4,132,709
19,790,344
Construction work in progress 31.410
Net Fixed Assets $19,821,754
NOTE 7 - DEMAND BONDS
Long -Term Debt
Included in long -term debt is $6,000,000 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.
30
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 7 - DEMAND BONDS (Continued)
Long -Term Debt (Continued)
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.
31
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30. 1990
NOTE 8 - LONG -TERM DEBT
The following is a summary of long term debt payable for the year ended June 30, 1990:
Principal
Interest Payments
Issue Maturity
Type of Debt Rates Dates Date Date Dates Amount
Loans Payable:
Environmental Protection Agency
Asbestos Abatement
0.0* - 6/20/85 11/8/05
12/31/90 S 10,417
General Obligation Serial Bonds:
Schools, Multi - projects
Schools, Refunding
Variable Quarterly 5/28/86 06/01/96
6.6 -8% 8/1 -2/1 5/1/89 8/1/2000
* Interest free unless delinquent; then 7% plus fees and penalties.
06/30/91
10,417
12/31/91
10,417
06/30/92
10,417
to
x 25
06/30/04
12/31/04
10,406
302,082
9/1/90
250,000
12/1/90
250,000
3/1/91
250,000
6/1/91
250,000
9/1/91
250,000
12/1/91
250,000
3/1/92
250,000
6/1/92
250,000
9/1/92
250,000
12/1/92
250,000
3/1/93
250,000
6/1/93
250,000
9/1/93
250,000
12/1/93
250,000
3/1/94
250,000
to
x 10
6/1/96
6,000,000
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
9,310,000
$15,612,082
32
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
Authorized Prior Years
Balance at
Year Amount Issued Retired July 1, 1989
1985 S 375,000 S 375,000 S 52,090 S 322,910 S
1979 9,930,000 9,930,000 2,930,000
Current Year
Balance at
Issued Retired June 30, 1990
- S 20,828 S 302,082
7,000,000
1,000,000 6,000,000
1989 10,000,000 10,000,000 - 10,000,000 - 690,000 9,310,000
$20,305,000 $20.305,000 $ 2,982.090 $17,322,910 S S 1,710,828 $15,612,082
33
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 8 - LONG -TERM DEBT (Continued)
A summary of long -term debt as of and for the year ended June 30, 1990 follows
July 1. 1989
General obligation bonds $17,000,000
EPA loan payable 322,910
Accrued annual leave 136.481
$17.459.391
Balance at
Additions Deductions June 30. 1990
$ - $1,690,000 $15,310,000
- 20,828 302,082
15.195 - 151.676
$ 15,195 $1.7� $15.763.758
The annual requirements to amortize all general obligation debt and the EPA loan
payable outstanding as of June 30, 1990, including interest payments of $5,776,029 on
the general obligation debt, are as follows:
June 30.
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
$21.388.111
The amount of $6,835,420 is available in the Debt Service Funds to service all general
obligation bonds.
There are a number of limitations and restrictions contained in the various bond
indentures. The Borough is in compliance with all significant limitations and
restrictions.
Refunding Bonds
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
34
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 8 - LONG -TERM DEBT (Continued)
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.
The investments in the securities and the current obligations of the defeased bonds are
not reflected in the combined financial statements. At June 30, 1990 the Security
Pacific Bank at Seattle held investments in trust sufficient to pay the outstanding
principal plus accrued interest on the general obligation school bonds, Series 1980.
In 1989 the Borough sold $10,000,000 general obligation bonds to advance refund general
obligation bonds totalling $9,495,000. The proceeds of the refunding issue were placed
in a special escrow account and have been invested in securities of the U.S. Government
and its agencies. The maturities of these investments coincide with the principal and
interest payment dates of the refunded bonds and are sufficient to pay all principal
and interest on the bonds when due as required by applicable laws. Accordingly, the
refunded bonds have been eliminated from the long -term debt and the advance refunding
bonds added.
NOTE 9 - CAPITAL PROJECTS FUNDS CONSTRUCTION COMMITMENTS
A summary of Capital Projects Funds construction commitments at June 30, 1990 follows:
Various Borough Projects $ 34,828
State Capital Grants Fund 59.200
$ 94.028
Resources are presently available or committed to finance construction commitments at
June 30, 1990 for all funds except the School Bond Improvements Fund. The additional
resources required in this fund will be available during fiscal year 1991.
35
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 10 - ENTERPRISE FUNDS SEGMENT INFORMATION
The Borough owns and operates a Water and Sewer Utility Fund and a Sanitary Landfill
Fund. The Kodiak Island Borough Hospital is included in the Borough's financial
statements as a component unit. Segment financial data as of and for the year ended
June 30, 1990 for the Sanitary Services, Water and Sewer Utilities and as of and for
the year ended December 31, 1989 for the Hospital are as follows:
Operating revenues
Depreciation
operating loss
Operating grants entitlements
Operating transfers in
Net loss
Contributions in aid of construction:
Additions (deletions)
Amortization
Property, plant and equipment additions
Net working capital
Total assets
Total equity
Sanitary
Water
Sewer
Services
Utility
Utility
Hospital
Total
$1,181,115
S 200,489
S 239,061
S 6,071,644
S 7,692,309
77,923
109,653
196,612
312,599
696,787
(95,231)
(95,800)
(158,587)
(1,179,808)
(1,529,426)
-
-
-
134,460
134,460
60,000
-
-
13,000
73,000
(35,231)
(62,971)
(138,314)
(796,838)
(1,033,354)
-
(49,064)
(49,065)
11,616
(86,513)
76,805
109,645
196,590
-
383,040
-
-
-
71,831
71,831
5,141
267,448
57,940
3,338,846
3,669,375
2,417,157
5,594,018
9,316,600
8,170,859
25,498,634
2,376,725
5,567,899
9,305,696
7,525,886
24,776,206
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.
36
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 12 - KODIAK ISLAND HOSPITAL LIABILITY TRUST
Subsequent to December 31, 1989, the Hospital entered into an agreement to establish
a self - insured retention trust for payment of the first $1,000,000 in claims of
hospital liability, malpractice, or professional negligence alleged by third parties.
The agreement specifies that a minimum of $200,000 annually shall be transferred to the
trust until the total balance equals $1,000,000. The first deposit in the amount of
$250,000 was made on June 29, 1990.
NOTE 13 - INDIVIDUAL FUND DISCLOSURES
Interfund Receivables and Payables
A summary of interfund receivables and payables at June 30, 1990 is as follows:
Receivable Payable
Capital Project.
Special Revenue
Special Revenue
Special Revenue
Special Revenue
Special Revenue
Special Revenue
Special Revenue
Special Revenue
s Fund
Fund
Fund
Fund
Fund
Fund
Fund
Fund
Fund
Various Borough Projects
Women's Bay Fire
Monaska Bay Road
Service District #1
Bay View Road
Mental Health Center
Energy
Day Care
Building and Grounds
$ 227,835
5,803
2,637
1,293
774
101,892
10,413
15,211
89,812
Special Revenue Fund - Education
Enterprise Fund - Hospital
General Fund
2,444,008
1,516,870
3,960,878
Debt Service Fund - School Bonds
168,270
Special Revenue Fund - Education
168,270
Capital Projects Fund - Various Borough Projects
818,236
-
'
Debt Service Fund - School Bonds
818,236
Capital Projects Fund - School Equipment and
Furnishings
17,697
-
'
Special Revenue Fund - Education
17,697
$5,192,916
$5,192,916
Subsequent to December 31, 1989 the Kodiak Island
Hospital moved
$1,516,870 to the
central treasury of the Kodiak Island Borough. Because the hospital
has a December 31
'
year end, the interfund payable of $1,516,870 from
the general fund to the hospital
fund is not recorded on the hospital balance sheet. Accordingly,
the due to other
funds and the due from other funds in the combined
financial statements differ by
'
$1,516,870.
37
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 13 - INDIVIDUAL FUND DISCLOSURES (Continued)
Fund Deficits
Fund deficits at June 30, 1990 are as follows:
Special Revenue
Monashka Bay Road Services District $2,704
Service District Number One 1,293
Bayview Road Service District 842
These deficits will be funded through increased fiscal year 1991 property tax levies
and decreased fiscal year 1991 expenditures.
Capital Projects -
State Capital Grants $311,975
This deficit will be funded in fiscal year 1991 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.
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, 1990, were as follows:
38
out
Transfers In
special
Debt
Capital
General
Revenue
Service
Projects
Enterprise
Fund
Funds
Funds
Funds
Funds
Fund Type
Operating transfers:
General Fund
$2,722,102
$ -
52,690,000
S 9,102
S 10,000
413,000
Special Revenue
3,943,027
68,790
3.629,237
185,000
60,000
Total Operating Transfers
$6,665,129
568,790
$2,6
S3.638.339
$195,000
573,000
38
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 13 - INDIVIDUAL FUND DISCLOSURES (Continued)
Excess of Expenditures Over Appropriations
General Fund
The following departments' expenditures exceeded their appropriations:
Devartment Excess
Clerk's department
$ 7,693
Legal Services
43,439
Health and Sanitation
4,671
General Administration
10,634
Switchboard /word processing
3.129
$ 69,566
The following funds' expenditures
exceeded their appropriations:
Special Revenue Funds
Fund
Excess
Monashka Bay Road
$ 3,824
Road District 1
6,629
Women's Bay Road District
13,545
Bay View Road District
1.943
$ 25,941
Enterprise Funds
Fund Excess
Sanitary Services $ 33,166
Water 90,289
Sewer 145.508
$ 268,963
39
KODIAK ISLAND BOROUGH
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 1990
NOTE 13 - INDIVIDUAL FUND DISCLOSURES (Continued)
Proprietary Funds reconciliation of Fund equity for year ended June 30, 1990.
Fund equity at beginning of year
Net earnings (loss)
Increase (decrease) in contributed capital
Fund Equity at end of year
Sanitary Water
Services Utility
$2,411,956 $5,679,934
(35,231) (62,971)
(49,064
$2, 3� 55 5� 67 899
Sewer
Utility
$9,493,074
(138,314)
(49.064
$9 3y
Hospital
$8,311,108
(796,838)
11,616
$7,525.886
Total
$25,896,072
(1,033,354)
(86.512
$24,776.206
NOTE 14 - CONTINGENCIES
Liti a� tion
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.
40
II
L�
1
GENERAL FUND
' 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.
C!
EXHIBIT A -1
KODIAK ISLAND BOROUGH
GENERAL FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
ASSETS
42
1990
1989
Equity in Central Treasury
$ 110,383
$ -
Temporary investment
5,533,336
3,512,286
Other cash
2,456
1,235
Total cash and investments
5,646,175
3,513,521
Receivables:
State of Alaska
50,859
1,749,479
Property taxes:
Delinquent taxes
28,640
21,136
Allowance for uncollectible delinquent
taxes
(13,327
(11,773
Net property taxes
15,313
9,363
Accrued interest receivable
111,622
23,510
Other
172
-
Net receivables
177,966
1,782,352
Prepaid
158,894
-
S 5,983,035
S 5,295,873
LIABILITIES AND FUND
BALANCE
Liabilities:
Accounts payable
$ 40,076
$ 43,111
Payroll taxes and employee benefits
-
23,640
Other accrued liabilities
934
3,316
Due to other funds
3,960,878
2,127,435
Total liabilities
4,001,888
2,197,502
Fund balance:
Reserved for encumbrances
2,051
15,981
Designated for subsequent year expenditures
1,979,096
3,082,390
Total fund equities
1,981,147
3,098,371
S5,983,035
$5,295,873
42
1
EXHIBIT A -2
KODIAK ISLAND
BOROUGH
'
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS
AND
CHANGES IN
FUND BALANCE
- BUDGET AND
ACTUAL
YEAR
ENDED JUNE
30, 1990
WITH
COMPARATIVE TOTALS FOR 1989
1990
Variance -
'
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes:
Real
$1,763,500
$1,700,685
$(62,815)
$1,643,093
Personal
271,000
256,006
(14,994)
220,072
Motor vehicle
150,000
180,265
30,265
173,644
'
Penalty and interest
20,000
51,835
31,835
33,519
Payment in lieu of taxes
440,200
451,253
11,053
445,108
Total property taxes
2,644,700
2,640,044
(4,656
2,515,436
Intergovernmental:
State sources:
State shared revenue
676,490
696,621
20,131
863,771
Municipal assistance
495,000
596,297
101,297
526,608
'
Raw fish tax
2,044,881
Electric co -op tax
9,650
16,412
6,762
9,634
Miscellaneous
-
610
610
18
Total state sources
1,181,140
1,309,940
128,800
3,444.912
Federal sources
4,430
6,298
1,868
5,036
'
Total intergovern-
mental revenue
1,185,570
1,316,238
130,668
3,449,948
Licenses, permits, fees and
i
other local revenues:
Building and trailers
20,000
34,032
14,032
23,549
Subdivision and zoning
fees
6,400
10,848
4,448
15,671
Sale of copies
Switchboard services
-
8,600
-
12,867
-
4,267
1,401
16,446
Emergency medical services
32,450
27,370
(5,080)
26,015
Miscellaneous
10,150
35,028
24,878
12,666
Total licenses, permits
fees and other local
sources
77,600
120,145
42,545
95,748
Investments and property:
Interest income
120,000
537,228
417,228
351,772
Gain on exchange
10,000
-
(10,000)
-
Lease rentals on land
'
and buildings
Total investments
1,700
3,623
1,923
2,751
and property
131,700
540,851
409,151
354,523
Total revenues
4,039,570
4,617,278
577,708
6,415,655
'
43
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
1990
Variance -
Favorable
Budget Actual (Unfavorable)
Expenditures:
1�
1
k
1989 ,
Actual
Borough Assembly
$ 92,800
$ 66,425
$ 26,375
$ 65,716
Mayor's department
186,270
171,549
14,721
127,046
Clerk's department
236,190
243,883
(7,693)
193,671
Finance department
264,130
257,692
6,438
208,486
Legal services
135,150
178,589
(43,439)
81,290
Consolidation committee
-
-
-
13,308
Assessment department
207,760
205,157
2,603
174,257
Community development
department
305,310
301,586
3,724
281,250
Engineering /Facilities
department
287,860
224,975
62,885
136,907
Health and sanitation
363,250
367,921
(4,671)
517,112
Data services
202,070
198,168
3,902
145,512
Resource management
68,790
61,759
7,031
58,663
General administration
360,990
371,624
(10,634)
299,131
Building inspector
70,000
65,939
4,061
-
Emergency preparedness
20,000
8,754
11,246
28,357
Community and Regional
Affairs Liaison
5,700
2,586
3,114
4,551
Education support
61,500
54,150
7,350
28,997
Economic development
50,000
48,244
1,756
30,817
Switchboard /Word processing
68,560
71,689
(3,129)
69,592
Culture and recreation
180,500
180,500
-
161,460
Total expenditures
3,166,830
3,081,190
85,640
2,626,123
Continued 44
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
1990
Variance -
Favorable 1989
Budaet Actual (Unfavorable) Actual
Excess of revenues over
expenditures
872,740
S 1,536,088
Operating transfers in:
Special Revenue - land sales
68,790
68,790
Total operating
transfers from
other funds
68,790
68,790
Operating transfers out:
Special Revenue:
Education
2,100,000
2,100,000
Mental Health
140,000
140,000
Buildings and grounds
450,000
450,000
Capital Projects:
Various Borough projects
10,000
10,000
State Capital Grants
-
-
Debt Service:
Other
-
9,102
Enterprise Funds:
Sanitary services fund
-
-
Hospital
13,000
13,000
Total operating
transfers to
other funds
2,713,000
2,722,102
Net operating trans-
fers out
(2,644,210
(2,653,312
Excess (deficiency) of revenues
and operating transfers in
over expenditures and
operating transfers out
S(1,771,470
(1,117,224)
Fund balance at beginning
of year
3,098,371
Fund balance at end of year
S 1,981,147
S663,348 S 3,789,532
56,410
56,410
2,100,000
140,000
446,100
148,390
13,350
(9,102) 8,597
140,000
(9,102 2,996,437
(9,102 _(2,940,027
$ 654,246 849,505
2,248,866
$ 3,098,371
1 45
EXHIBIT A -3
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Expenditures:
Borough Assembly:
Personnel services
$ 16,800
$ 15,856
$ 944
$ 20,064
Fringe benefits
-
241
(241)
1,396
Support, goods & services
46,000
28,328
17,672
44,256
Consultants
30,000
22,000
8,000
Total
92,800
66,425
26,375
65,716
Mayor's department:
Personnel services
127,990
99,116
28,874
81,073
Fringe benefits
31,980
21,266
10,714
18,314
Support, goods & services
26,300
33,965
(7,665)
21,520
Capital outlay
-
17,202
(17,202
6,139
Total
186,270
171,549
14,721
127,046
Clerk's department:
Personnel services
115,520
120,115
(4,595)
97,380
Fringe benefits
32,770
25,888
6,882
29,668
Support, goods & services
85,900
93,738
(7,838)
62,655
Capital outlay
2,000
4,142
(2,142
3,968
Total
236,190
243,883
(7,693
193,671
Consolidation committee:
Personnel services
-
-
-
9
Fringe benefits
-
-
-
4
Support, goods & services
-
-
-
13,295
Total
13,308
Finance department:
Personnel services
188,740
192,621
(3,881)
171,870
Fringe benefits
50,490
40,503
9,987
47,098
Support, goods & services
37,900
39,447
(1,547)
30,138
Allocated to projects
(15,000)
(17,099)
2,099
(41,330)
Capital outlay
2,000
2,220
(220
710
Total
264,130
257,692
6,438
208,486
Legal services:
Support, goods & services
19,550
22,202
(2,652)
14,903
Costs of litigation
115,600
102,831
12,769
200
Legal fees
-
53,556
(53,556)
65,769
Court costs
418
Total
135,150
178,589
(43,439
81,290
Continued
46
EXHIBIT A -3 (Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
' Assessing department:
Personnel services
Fringe benefits
' Support, goods & services
Allocated to projects
Capital outlay
Total
Community development
department:
Personnel services
' Fringe benefits
Support, goods & services
Allocated to projects
Capital outlay
Total
Engineering /Facilities
' department:
Personnel services
Fringe benefits
Support, goods & services
Allocated to projects
Capital outlay
Total
Health and sanitation:
Emergency medical services
Animal control
Council on Alcoholism
State Health Services Villages
State Health Services Kana
Women's Resource Crisis
American Red Cross
Alaska Legal Services
Kodiak Baptist Mission
Small World (Day Care)
Special Olympics
Health Center Support
Senior Citizen Support
Kodiak Respite Care
Ambulance service
Hospital contribution
Total
1990
Variance -
Favorable 1989
Budaet Actual (Unfavorable) Actual
$139,070
42,640
26,050
207,760
203,680
66,170
42,460
(15,000)
8,000
305,310
225,200
50,910
69,800
(60,000)
1,950
287,860
32,450
32,000
60,000
25,800
8,600
34,900
2,000
10,000
60,000
18,000
3,000
3,500
20,000
3,000
50,000
363,250
$144,578
32,695
26,020
1,864
205,157
192,268
46,568
38,164
24,586
301,586
212,309
44,203
49,015
(82,151)
1,599
224,975
30,900
37,967
60,000
25,800
8,600
34,900
2,000
10,000
60,000
18,000
3,000
3,754
20,000
3,000
50,000
367,921
$ (5,508)
9,945
30
(1,864
2,603
11,412
19,602
4,296
(15,000)
(16,586
3,724
12,891
6,707
20,785
22,151
351
62,885
1,550
(5,967)
(254)
(4,671
$ 119,198
31,896
28,095
(9,100)
4,168
174,257
156,664
33,361
101,992
(18,484)
7,717
281,250
278,297
59,247
39,730
(241,317)
950
136,907
30,930
32,478
56,300
28,690
9,560
34,900
2,000
13,850
60,000
21,000
3,000
2,004
20,000
3,000
50,000
149,400
517,112
47 Continued
EXHIBIT A -3 (Continued
Continued 48
KODIAK ISLAND
BOROUGH
GENERAL
FUND
SCHEDULE
OF EXPENDITURES AND TRANSFERS -
BUDGET AND
ACTUAL
YEAR ENDED JUNE
30, 1990
WITH
COMPARATIVE TOTALS FOR 1989
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Data services:
V
Personnel services
$ 173,440
$ 171,222
$ 2,218
$ 134,493
Fringe benefits
43,860
37,482v
6,378
36,043
Support, goods & services
49,660
48,051
1,609
51,511
Allocated to projects
(115,000)
(105,522)✓
(9,478)
(118,243)
Capital outlay
50,110
46,935
3,175
41,708
Total
202,070
198,168 V
3,902
145,512
Resource management:
Personnel services
48,390
48,443
(53)
40,451
Fringe benefits
16,250
12,013
4,237
14,415
Support, goods & services
4,150
3,934
216
-
Allocated to projects
-
(2,631
2,631
3,797
Total
68,790
61,759
7,031
58,663
General administration:
Fringe benefits
-
936
(936)
-
Support, goods & services
219,010
233,100
(14,090)
169,906
Audit expense
125,980
121,258
4,722
72,351
Contributions
-
-
-
45,000
Capital outlay
16,000
16,330
(330
11,874
Total
360,990
371,624
(10,634
299,131
Culture and recreation:
KMXT Public Radio
12,000
12,000
-
12,000
Historical Society
9,000
9,000
-
9,000
Summer Basketball
3,000
3,000
-
3,000
Crimestoppers
1,000
1,000
-
1,000
Kodiak Isle Sport Assn.
1,500
1,500
-
1,500
Kodiak Art Council
12,000
12,000
-
12,000
Village Libraries
18,000
18,000
-
19,680
Chiniak Public Library
3,000
3,000
-
3,280
City of Kodiak Library
58,000
58,000
-
58,000
Head Start
8,000
8,000
-
8,000
Kodiak College
34,000
34,000
-
34,000
Santa in the Village
1,000
1,000
-
-
Karluk IRA Council
20,000
20,000
-
-
Total
180,500
180,500
-
161,460
Building inspector's
department:
Support, goods & services
70,000
65,939
4,061
-
Total
70,000
65,939
4,061
-
Continued 48
t
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Switchboard /Word processing:
Personnel services
Fringe benefits
Support, goods & services
Total
Emergency preparedness:
Support, goods & services
Capital outlay
Total
Community and Regional
Affairs Liaison:
Support, goods & services
Allocated to projects
Total
Education support:
School support -
Contributions to
scholarship foundation
Audit expense
Total
Economic development:
General services -
Fringe benefits
Support, goods & services
Contributions -
Chamber of Commerce
Kodiak Convention Bureau
Total
Total expenditures
EXHIBIT A -3 (Continued
1990
Variance -
Favorable 1989
Budget Actual (Unfavorable) Actual
$ 53,470
13,600
1,490
68,560
6,000
14,000
20,000
$ 58,112
13,068
509
71,689
5,016
3,738
8,754
5,700 2,586
5,700 2,586
$(4,642)
532
981
(3,129
984
10,262
11,246
3,114
3,114
$ 52,621
15,368
1,603
69,592
698
27,659
28,357
5,156
(605
4,551
25,000 25,000 - -
36,500 29,150 7,350 28,997
61,500 54,150 7,350 28,997
638
30,000 28,244 1,756 30,179
5,000 5,000 - -
15.000 15,000 - -
50,000 48,244 1,756 30,817
3,166,830 3,081,190 85,640 2,626,123
49 Continued
EXHIBIT A-3-(Continued
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS -
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Operating transfers out:
Special Revenue -
Education
Mental Health
Buildings and grounds
Capital Projects -
Various Borough projects
State Capital Grants
Debt Service -
Other
Enterprise Funds -
Sanitary landfill fund
Hospital
Total
F
50
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
$2,100,000
$2,100,000
$ -
$2,100,000
140,000
140,000
-
140,000
450,000
450,000
-
446,100
10,000
10,000
-
148,390
-
-
-
13,350
-
9,102
(9,102)
8,597
-
-
-
140,000
13,000
13,000
-
2,713,000
2,722,102
(9,102
2,996,437
S5,879,830
S5,8�3,292
S76,538
55,622,560
50
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
This 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, 1990
WITH COMPARATIVE TOTALS FOR 1989
LIABILITIES AND FUND BALANCES (DEFICITS
Liabilities:
Accounts payable
fire
S 1,862
S 67
Road
$1,422
S 68
Women's
Monashke
District Women's Bay View
-
Area 1
B_ ay_
Bay
One Bay Road
ASSETS
-
-
-
-
Equity in central treasury
S 24,607
S -
S -
S - $7,826 $ -
Temporary investments
350,000
-
-
- - -
Other cash balances
-
-
-
- - -
Receivables:
-
300
-
-
State of Alaska
-
-
-
- - -
Federal Government
-
-
-
- - -
Land sales contract, due
5,803
2.637
1,293
within one year
-
-
-
- - -
Exxon reimbursement
-
-
-
- - -
Accrued interest
6,628
-
-
- - -
Other
-
-
-
- - -
Allowance for doubtful receivables
-
-
-
- - -
Due from other funds
-
-
-
- - -
Inventories
-
-
-
- - -
Prepaids
14,189
11,369
-
- - -
Land sales contracts receivable,
-
-
Unreserved -
due after one year
-
-
-
- - -
Other
-
$395,424
S11.369
S
S �� $7,826 S
LIABILITIES AND FUND BALANCES (DEFICITS
Liabilities:
Accounts payable
S 413
S 1,862
S 67
S -
$1,422
S 68
Salaries payable
1,163
-
-
-
-
-
Payroll taxes accrued and withheld
-
-
-
-
-
-
Employee benefits accrued
and withheld
-
-
-
-
-
-
Customer deposits
-
300
-
-
-
-
Deferred and unrealized revenues
-
-
-
-
-
-
Due to other funds
5,803
2.637
1,293
774
Total liabilities
1,576
7,965
2,704
1,293
1,422
842
Fund balances (deficits):
Reserved for encumbrances
-
400
-
645
-
-
Health Insurance
-
-
-
-
-
-
Fiscal year 1991 PL-874
-
-
-
-
-
-
Reserved for fuel inventory
-
-
-
-
-
-
Unreserved -
Designated for subsequent year
expenditures
-
-
-
-
-
-
Undesignated -
393,848
3,004
(2.704
(1.938
6,404
(842)
Total fund balances (deficits)
393,848
3,404
(2,704
(1,293
6,404
(842)
$395,424
511.369
$ -
57,826
S -
52
EXHIBIT B-1
federal and State Grant
Programs
Building
Totals
Mental
Health
and
OR Spill
Center
Energy
Day Care
Education
Land Sales
Grounds
Clearwo
1990
1989
f -
$ -
S 98,599
S -
$ 3,758
S 134,790
S 274,677
-
1,930,886
-
-
2,280,886
1,776,382
100
-
-
38,789
-
-
-
38,889
33,096
289,993
10,413
29,355
900,877
-
-
156,751
1,387,389
1,261,055
-
-
-
61,094
-
-
-
61,094
-
_
-
245,276 k
-
-
245,276
343,529
-
-
-
-
378,010
_
-
36,285 -
-
-
42,913
62,401
113,432
-
-
4,285
-
-
1,030
118,747
186,841
(31,436)
-
-
-
(25,000)
-
-
(56,436)
(57,361)
-
-
-
2,444,008
-
-
-
2,444,008
2,418,178
-
-
-
207,387
-
-
-
207,387
271,776
41,410
-
-
-
-
360,377
-
427,345
-
_
-
-
-
1,368,020'/
-
-
1,368,020
1,471,044
239
5413,499
$10,413
$29,355
53,656,440
53,654,066
5360 ,377
5161,539
58,700,308
58,419,867
S 27,241
S -
$14,144
S 460,658
S -
S 8,123
5 -
S 513,998
S 798,098
11,736
-
-
560,673
-
-
-
573,572
669,798
-
-
-
728,621
-
-
-
728,621
678,001
-
-
-
89,550
-
-
-
89,550
110,856
_
_
_
-
300
300
-
-
-
-
1,613,298
-
161,539
1,774,837
1,817,904
101,892
10,413
15,211
185,967
-
89,812
-
413,802
361,123
140,869
10,413
29,355
2,025,469
1,613,298
97,935
161,539
4,094,680
4,436,080
460
-
-
44,807
-
772
-
47,084
100,841
-
-
-
85,937
-
-
-
85,937
82,952
-
-
-
200,000
-
-
-
200,000
-
-
-
-
207,072
-
-
-
207,072
-
-
-
-
760,000
-
-
-
760,000
444,114
272,170
-
-
333,155
2,040,768
261,670
-
3,305,535
3,355,880
272,630
-
-
1,630,971
2,040,768
262,442
-
4,605,628
3,983,787
$413,499
510,413
$29,355
53,656,440
53,654,066
5360,377
$161,539
58,700,308
58,419,867
53
Expenditures:
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
Planning and community
COMBINING STATEMENT OF REVENUES,
EXPENDITURES
development
AND CHANGES IN FUND BALANCES
(DEFICITS)
Health and sanitation
JUNE 30, 1990
Education support
WITH COMPARATIVE TOTALS FOR
1989
-
-
General administration
Fire and Road Service
Districts
Fire
oil spill cleanup
Road
-
-
Women's
Moneshka
District
Women's
Bay View
Area 1 Bay
Bay
One
Bey_
Road
Revenues:
Property taxes
$114,577 S 31,340
S 18,747
$50,185
$37,598
S 3,314
State sources
8,039 618
3,707
9,222
15,956
983
Federal sources
-
109.901
27.851
_ 45.824
63.419
Land sale proceeds
6,240
Excess (deficiency) of revenues
57.004
11.807
2( 3,370
Exxon reimbursement
-
(1.9 43)
-
-
-
Licenses, permits, fees and
Operating transfers in
-
other local revenues
7,545 7,700
-
-
20,000
-
Investments and property
36.744
-
"
Total Revenues
166,905 39.658
22,454
59.407
73.554
4.297
Expenditures:
Planning and community
development
_
Health and sanitation
Education support
-
-
-
General administration
109
27,851
oil spill cleanup
-
-
-
-
-
-
Capital outlay:
-
Capital improvements
Services district maintenance
-
-
45,824
63,419
79,045
6,240
General
Total expenditures
109.901
27.851
_ 45.824
63.419
79,045
6,240
Excess (deficiency) of revenues
57.004
11.807
2( 3,370
(4,012
(5,4
(1.9 43)
over expenditures
Operating transfers in
-
-
-
-
20,000
-
Operating transfers out
(2,067
2( 0,000
-
Net operating transfers
(2.067
2_( 0,000
-
20,000
-
Excess (deficiency) of revenues
and operating transfers in
over expenditures and operating
transfers out
54,937
(8,193)
(23,370)
(4,012)
14,509
(1,943)
Fund balances (deficits) at
beginning of year
338,911
11,597
20,666
2,719
(8,105)
1,101
Adjustments to reserve for
fuel inventory
-
Fund balances (deficits)
at end of year
$393,848
S 3,404
S (2,704
$0,293
S 6,404
$ (842
54
EXHIBIT B-2
Federal and State Grant Programs
Totals
Mental
Building
Health
and
OR Spill
Center
Energy Day Care
Education
Land Sales
Grounds
Cleamip
1990
1989
$ -
S - S -
S -
S -
S -
S -
S 255,761
S 210,272
931,924
11,116 181,572
15,789,269
(21,980)
1,785,804
18,716,230
18,798,869
'
2,343,484
2,343,484
1,005,261
370,886
370,886
377,586
_
_ _
_
-
-
187,072
187,072
1,013,079
'
415,991
68,847
_ _
194.270
65,658
1 148,130
-
292,823
2,630
519,524
740,814
672,475
514,792
1,416,762
11,116 181,572
18,327,023
562,694
292,823
1,975,506
23,133,771
22,592,334
-
11,116 -
-
25,694
-
-
36,810
28,203
1,626,872
- 181,744
-
-
-
-
1,808,616
1,601,954
16,452,193
_
16,452,193
15,698,012
'
617,400
755,152
733,752
_
1,975,506
1,975,506
1,083,905
39,083
_
39,083
44,633
_
_
194,528
119,596
27,713
1,626,872
11,116 181,744
16,452,193
64,777
617,400
1,975,506
21,261,888
19,337,768
'
497,917
(324,577
1,871,883
3,254,566
(210,110
- (172
1,874,830
140,000
- -
2,100,000
-
450,000
-
2,710,000
2,991,640
(4,026
- -
(3,623,144
(313,790
-
(3,963,027
(6,741,075
135,974
(1,523,144
(313,790
450,000
(1,253,027
(3,749,435
(74,136)
- (172)
351,686
184,127
125,423
-
618,856
(494,869)
'
346,766
- 172
1,276,300
1,856,641
137,019
-
3,983,787
4,469,386
-
- -
2,985
-
-
-
2,985
9,270
$2,040,768
S 262,442
S
S 4,605,628
$ 3,983,787
S 2S 2�
S S -
$ 1,630,971
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
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 of revenues over
expenditures
Operating transfers in
Operating transfers out
Net operating transfers
Excess of revenues and operating
transfers in over expenditures
and operating transfers out
Fund balance at beginning
of year
Fund balance at end of year
338.911 303.015
$ 393,848 $338,911
56
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
$107,940
$114,577
$ 6,637
$130,341
8,000
8,039
39
8,787
6,000
7,545
1,545
6,300
24.000
36.744
12.744
19.980
145.940
166.905
20.965
165.408
54,980
55,102
(122)
48,577
7,000
4,415
2,585
3,720
18,210
14,165
4,045
11,777
61,750
35,004
26,746
34,197
4.000
1.215
2.785
27,713
145.940
109.901
36.039
125.984
57.004
57.004
39.424
_
-
-
1,472
(2,067)
(2.067
(5.000
-
(2,067
(2.067
(3.528
54,937
$54,937
35,896
338.911 303.015
$ 393,848 $338,911
56
ODIAK ISLAND BORO
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - FIRE WOMEN'S BAY
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
EXHIBIT B -4
57
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes
$ 29,000
$ 31,340
$ 2,340
$ 5,944
State sources - shared revenue
600
618
18
993
Licenses, permits, fees
and other local revenues
7.200
7.700
500
6.806
Total revenues
36.800
39.658
2.858
13.743
Expenditures - general
administration
Volunteers
800
-
800
-
Fringe benefits
4,000
2,503
1,497
-
Support costs
26,150
24,363
1,787
18,770
Communications
600
542
58
420
Supplies and materials
750
443
307
-
Community activities
100
-
100
-
Capital outlay
4.400
-
4,400
-
Total expenditures
36.800
27.851
8.949
19,190
Excess (deficiency) of
revenues over expenditures
-
11.807
11.807
(5,447
Operating transfers out
(20.000
(20.000
-
-
Deficiency of revenues and operating
transfers in over expenditures
$(20,000)
(8,193)
$11,807
(5,447)
Fund balance at beginning
of year
11.597
17.044
Fund balance at end of year
3,404
$11,597
57
EXHIBIT B -5
KODIAK ISLAND BOROUG
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD MONASHKA BAY
STATEMENT OF REVENUES. EXPENDITURES, AND
CHANGES IN FUND BALANCE (DEFICIT) - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Revenues:
Property taxes
State sources - shared
revenue
Total revenues
Expenditures - capital
improvements - service
district maintenance:
Salaries
Snow removal
Road grading
Support -goods & services
Total expenditures
Excess (deficiency) of revenues
over expenditures
Fund balance at beginning
of year
Fund balance (deficit) at
end of year
- 287 (287) 539
24,500 24,495 5 9,286
17,500 20,920 (3,420) 4,451
- 122 (122 515
42.000 45.824 (3.824 14.791
$( 20,000) (23,370) $0,370) 7,570
20.666 13.096
( 2,704) $20,666
58
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
$ 18,000
$ 18,747
$ 747
$18,103
4.000
3.707
293)
4.258
22.000
22.454
454
22.361
- 287 (287) 539
24,500 24,495 5 9,286
17,500 20,920 (3,420) 4,451
- 122 (122 515
42.000 45.824 (3.824 14.791
$( 20,000) (23,370) $0,370) 7,570
20.666 13.096
( 2,704) $20,666
58
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD DISTRICT 1
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE (DEFICIT) - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
1990
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
Deficiency of revenues over
expenditures
Fund balance at beginning
of year
Fund balance (deficit) at
end of year
Variance -
Favorable
Budget Actual (Unfavorable)
$48,000 $50,185 $ 2,185
8.790 9.222 432
56.790 59.407 2.617
EXHIBIT B -6
1989
Actual
$ 16,927
10.785
27.712
2,000
5,055
(3,055)
4,293
8,000
7,787
213
11,919
38,000
47,894
(9,894)
24,694
8,000
2,399
5,601
4,044
790
284
506
854
56.790
63.419
(6.629
45.804
(4,012)
2.719
$( 4,012) (18,092)
$( 1.293)
20.811
2,719
59
EXHIBIT B -7
KODIAK ISLAND BOROUG
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD WOMEN'S BAY
STATEMENT OF REVENUES. EXPENDITURES. AND
CHANGES IN FUND BALANCE (DEFICIT) - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Revenues:
Property taxes
State sources - shared
revenue
Licenses, permits, fees
Total revenues
Expenditures - capital
improvements - service
district maintenance:
Staff salaries
Snow removal
Contracted services
Support -goods & services
Repairs and maintenance
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over expenditures
Operating transfers in
Excess of revenues and operating
transfers in over expenditures
and operating transfers out
Fund deficit at beginning
of year
Fund balance (deficit) at
end of year
1,000
1990
641
1,215
9,900
22,322
Variance -
40,235
41,400
46,224
Favorable
1989
Budget
Actual
(Unfavorable)
Actual -
$ 37,600
$ 37,598
$ (2)
$ 35,706
16,000
15,956
(44)
18,109
65.500
20.000
20.000
10.000
53.600
73.554
19.954
63.815
1,000
359
641
1,215
9,900
22,322
(12,422)
40,235
41,400
46,224
(4,824)
15,199
1,200
-
1,200
195
10,000
10,140
(140)
-
2.000
2.000
65.500
79.045
(13.545
56.844
(11.900
(5.491
6.409
6.971
20.000
20.000
8,100 14,509 6,409 6,971
(8.105 (15.076
6,404 (8,105)
60
EXHIBIT B -8
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD BAY VIEW
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE (DEFICIT) - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
1990
Revenues:
Property taxes
State sources - shared
revenue
Total revenues
Expenditures - capital
improvements - service
district maintenance:
Staff salaries
Snow removal
Road grading
Support -goods & services
Total expenditures
Excess (deficiency) of revenues
over expenditures
Fund balance (deficit) at beginning
of year
Fund balance (deficit) at end of
year
1989
Actual
$3,251
914
4,165
- 292 (292) 174
4,000 3,895 105 1,344
- 2,053 (2,053) 607
- - 32
4.000 6.240 (2.240 2.157
(1,943) $(1.943) 2,008
1.101
842)
(907
1 101
61
Variance -
Favorable
Budget
Actual
(Unfavorable)
$3,100
$ 3,314
$ 214
900
983
83
4.000
4.297
297
1989
Actual
$3,251
914
4,165
- 292 (292) 174
4,000 3,895 105 1,344
- 2,053 (2,053) 607
- - 32
4.000 6.240 (2.240 2.157
(1,943) $(1.943) 2,008
1.101
842)
(907
1 101
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
Revenues:
State sources:
Alaska Youth Initiative
Developmental Disability
Program
Health, Social and Community
Services Program
Division of Family and Youth
Services
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
Total expenditures
Deficiency of revenues
over expenditures
Operating transfers in
Operating transfers out
Net operating transfers
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
1,428,890 1,416,762 (12,128
1,296,280
1990
106,058
28,850
24,261
4,589
Variance -
129,980
3,000
65,570
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
166,380
(34,980
1,715,580
1,626,872
$ 105,540
$ 105,127
$ (413)
$ 106,462
261,600
261,600
-
234,500
552,600
552,600
-
475,300
15,000
9,165
(5,835)
-
2,000
3,432
1,432
45,050
204,380
208,346
3,966
196,076
211,370
205,823
(5,547)
224,890
1,400
1,822
422
220
60,000
60,000
-
60,000
15,000
8,847
(6,153
10,377
1,428,890 1,416,762 (12,128
1,296,280
1,190,222
106,058
28,850
24,261
4,589
132,980
129,980
3,000
65,570
62,049
3,521
60,500
53,980
6,520
131,400
166,380
(34,980
1,715,580
1,626,872
88,708
(286,690 (210,110 76,580
140,000 140,000 -
- (4,026 (4,026
140,000 135,974 (4,026
S (1� 4� ) (74,136) S 72,554
346,766
S 272 .630
1,352,875
996,353
22,550
123,676
71,166
18,454
136,806
1,369,005
(16,130
144,068
144,068
127,938
218,828
8 346.766
62
KODIAK_ BOROUGH
EXHIBIT B -10
SPECIAL REVENUE FUNDS
STATE GRANT PROGRAMS - MENTAL HEALTH CENTER - SCHEDULE OF EXPENDITURES
STATEMENT OF REVENUES EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
63
1990
Variance -
Favorable
Budget
Actual
(Unfavorable)
Expenditures - Alaska Youth
Initiative:
Personnel
$ 76,030
$ 76,832
$ (802)
Travel
50
10
40
Facility
9,820
10,033
(213)
Supplies
11,390
10,290
1,100
Equipment
800
876
(76)
Other
7,450
7,273
177
105,540
105,314
226
Expenditures - Developmental
Disability Program (06- 9019):
Personnel
207,650
192,056
15,594
Travel
1,000
1,000
-
Facility
22,370
23,307
(937)
Supplies
23,800
21,692
2,108
Equipment
25,000
24,015
985
Other
43,200
83,090
(39,890
323,020
345,160
(22,140
Expenditures - Health, Social
and Community Services
Program (06- 0208):
Personnel
1,008,850
920,708
88,142
Travel
27,800
23,251
4,549
Facility
97,420
94,519
2,901
Supplies
28,500
28,501
(1)
Equipment
30,200
24,879
5,321
Other
79,250
75,375
3,875
1,272,020
1,167,233
104,787
Expenditures - Division of Family
and Youth Services:
Personnel
3,750
626
3,124
Facility
3,370
2,121
1,249
Supplies
1,880
1,566
314
Equipment
4,500
4,210
290
Other
1,500
642
858
15,000
9,165
5,835
Total Expenditures
$1,715
$1,626,872
88,708
63
EXHIBIT B -11
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FEDERAL AND STATE GRANT PROGRAMS - COSTAL MANAGEMENT PROGRAM
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
1990
Variance -
Favorable
Budget Actual (Unfavorable)
Revenues:
State sources
Expenditures - planning and
community development:
Planning and zoning
Excess of revenues over
expenditures
Fund balance at
beginning of year
Fund balance at end of year
$ 35,000 $11,116 S(23,884)
35.000 11.116 23.884
1989
Actual
$ 22,180
22.180
i
64
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
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
EXHIBIT B -12
1990
Variance -
Favorable 1989
Budget Actual (Unfavorable) Actual
$ 239,330 $181,572 $(57,758) $232,720
239,330 _181,744 57,586 232,949
S - (172) 172) (229)
172
401
172
65
66
,
EXHIBIT 0-13
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
EDUCATION
'
STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET
AND ACTUAL
YEAR ENDED JUNE 30,
1990
'
WITH COMPARATIVE TOTALS
FOR 1989
1990
,
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Revenues:
State sources
$15,115,608
515,789,269
S 673,661
$16,736,645
'
Federal through State sources
1,822,170
1,580,638
(241,532)
1,204,971
Federal direct sources
561,013
762,846
201,833
609,650
Licenses, permits, fees
and other local revenues:
Food sales
123,300
126,876
3,576
124,004
'
Pupil activities
7,000
6,583
(417)
6,260
Other local revenues
49,62
60,81
11.186
63.005
Total revenues
17,678.716
18.327.023
648.307
18.744.535
,
Expenditures:
Education support:
Regular instruction
7,122,738
6,947,004
175,734
6,528,235
Vocational education instruction
831,179
807,313
23,866
739,308
'
Correspondence study instruction
108,321
114,600
(6,279)
133,129
Special education instruction
1,954,870
1,762,426
192,444
1,509,040
Gifted and talented instruction
146,586
144,248
2,338
141,350
Bilingual /bicultural instruction
209,112
204,855
4,257
201,614
Support services - pupils
890, 011
838,060
51,951
834,792
,
School administration
1,040,090
1,021,437
18,653
1,024,641
District administration
1,020,668
934,405
86,263
892,293
Operation and maintenance
2,519,144
2,565,464
(46,320)
2,589,257
Food services
256,600
268,143
(11,543)
263,807
'
Community services
14,844
13,232
1,612
19,464
Pupil activities
415,524
385,948
29,576
379,8
Pupil transportation
450.650
445.058
5.592
441.192
Total expenditures
16.980.337
16.452.193
528.144
15.698.012
'
Excess of revenues over expenditures
698.379
1.874.830
1.176,451
3.046.523
Operating transfers in
2,164,785
2,100,000
(64,785)
2,100,000
Operating transfers out
(3.076.621
(3.623.144
(546,523
(4,998.365
'
Net operating transfers
(911.836
(1,523,144
(611.308
(2.898,365
r
Excess (deficiency) of revenues
and operating transfers in
t
over expenditures and operating
transfers out
SS (2�
351,686
$ 565,143
148,158
Fund balance at beginning
,
of year
1.276,300
1,118,872
Adjustment to reserve for
fuel inventory
2.985
9.270
Fund balance at end of year
$ 1,6� 3�
S 1.276.300
,
66
EXHIBIT B -14
Expenditures:
Planning and community
development -
Land management
Capital improvements:
General -
Survey and appraisal
Total expenditures
Excess of revenues
over expenditures
Operating transfers in
Operating transfers out
Net operating transfers
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
21,000
25,694
KODIAK ISLAND
BOROUGH
70.000
39.083
'
44,633
SPECIAL REVENUE
FUNDS
26.223
50.656
313.790
497.917
LAND SALES
528.972
-
'
STATEMENT
OF REVENUES,
EXPENDITURES,
AND
-
(1,737,710
CHANGES IN
FUND BALANCE -
BUDGET AND
ACTUAL
YEAR
ENDED JUNE
30, 1990
'
WITH
COMPARATIVE TOTALS FOR 1989
'
1990
Variance -
'
Budget
Actual
Favorable
(Unfavorable)
1989
Actual
Revenues:
State Sources - Grants
$ -
$ (21,980)
$(21,980) $
21,980
'
Land sale proceeds
309,440
370,886
61,446
377,586
Licenses, permits, fees
and other local revenues:
Penalty and interest
-
200
200
492
'
Permit fees
10,000
10,000
10,000
Gravel sales
55,350
55,358
8
24,422
'
Other
-
374,790
100
100
39,774
-
434,480
414,564
Investment income
30.000
148.130
118.130
145.148
Total revenues
404.790
562.694
157.904
579.628
Expenditures:
Planning and community
development -
Land management
Capital improvements:
General -
Survey and appraisal
Total expenditures
Excess of revenues
over expenditures
Operating transfers in
Operating transfers out
Net operating transfers
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
21,000
25,694
(4,694)
6,023
70.000
39.083
30.917
44,633
91.000
64.777
26.223
50.656
313.790
497.917
184.127
528.972
-
-
-
300,000
(313,790
(313.790
-
(1,737,710
(313.790
(313,790
-
(1.437.710
184,127 $184,127 (908,738)
1,856.641 2,765,379
$2.040.768 $ 1,856,641
MA
EXHIBIT B -15
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
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
Deficiency of revenues over
expenditures
Operating transfers in
1990
Variance -
Favorable 1989
Budget Actual (Unfavorable) Actual
$ 272,860 $ 277,466 $ 4,606 $ 278,962
- 15,357 15,357 -
- - 325
272.860 292.823 19.963 279.287
413,850
258,100
27,500
15,000
17.150
731.600
315,408 98,442
248,967 9,133
18,811 8,689
15,015 (15)
19.199 (2.049
617.400 114.200
315,885
230,828
48,677
15,589
5.312
616.291
(458.740
450.000
(324.577 134.163
450.000
Excess of revenues and operating
transfers in over expenditures (8,740) 125,423 $134,163
Fund balance at beginning of year 137.019
Fund balance at end of year $ 262,442
(337.004
446.100
109,096
27.923
137,019
68
KODIAK ISLAND BOROUGH
OIL SPILL CLEANUP
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
PROJECT TO DATE
JUNE 30. 1990
EXHIBIT B -16
69
Project
Project
Variance -
to date
1989
1990
to Date
Favorable
Budget
Actual
Actual
Actual
(Unfavorable)
Revenues:
Exxon Reimbursements
$2,000,000
$1,013,079
S 187,072
$1,200,151
S (799,849)
State sources
Department of Environmental Conservation
grants
2,560,000
70,826
1,772,204
1,843,030
(716,970)
Department of Community and Regional
Affairs grants
13,600
-
13,600
13,600
-
Other sources
-
2.630
2.630
2.630
Total Revenues
4.573.600
1.083.905
1.975,506
3.059.411
(1.514,189
Expenditures:
Personal services
555,170
156,386
295,045
451,431
103,739
Fringe benefits
9,330
18,640
40,636
59,276
(49,946)
Support goods and services
2,062,600
887,086
552,274
1,439,360
623,240
Capital outlay
-
18,840
10,473
29,313
(29,313)
Legal fees
10,000
2,953
99,115
102,068
(92,068)
Disbursements to villages
1.936.500
-
977.963
977,963
958.537
Total expenditures
4.573,600
1,083.905
1.975,506
3,059,411
1.514.189
Excess of revenues over expenditures
f
-
-
S
S -
Fund balance at beginning year
"
Fund balance at end of year
S
69
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
Totals
School Bonds Other 1990 1989
ASSETS
Cash and investments:
Equity in central treasury
$ -
$151,675 $ 151,675
$ 267,757
Temporary cash investments
6,846,042
- 6,846,042
4,530,522
Cash with fiscal agent
397,585
- 397,585
648,922
Receivable from State of Alaska
-
- -
448,618
Accrued interest receivable
91,344
- 91,344
50,217
Due from other funds
168,270
- 168,270
-
S7,50 S151,675 S7,654,916 $5,946,036
LIABILITIES AND F UND BALANCES
Accounts payable $ 1,260 $ - $ 1,260 $ -
Due to other funds 818,236 - 818,236 -
Other - _ _
307
819,496 - 819,496 307
Fund balances - designated for
subsequent year expenditures 6,683,745 151,675 6,835,420 5,945,729
$7,5� S151,675 57,6 916 S5,9i6,036
72
73
EXHIBIT C -2
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,
EXPENDITURES,
AND
CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30,
1990
WITH COMPARATIVE TOTALS FOR 1989
Totals
School Bonds
Other
1990
1989
Revenues:
Investments and property -
Interest income
S 455,201
$ -
S 455,201
S 305,707
Gain on exchange
33,246
-
33,246
-
Miscellaneous
2,321
2.321
Total revenues
490.768
-
490,768
305,707
Expenditures - debt service:
Principal
2,260,833
-
2,260,833
5,135,834
Interest
909,334
-
909,334
1,396,688
Fiscal agent fees
54,086
-
54,086
66,030
Other
15,163
15.163
(13,735
Total expenditures
3,239,416
-
3,239.416
6,584,817
Deficiency of revenues over
expenditures
(2,748,648
-
(2.748.648
(6,279,110
Other financing sources (uses):
Proceeds of bond sales
-
-
-
10,000,000
Accrued interest
-
-
-
94,265
Bond premium
-
-
-
20,613
Purchase of restricted escrow
-
-
-
(9,865,100)
Underwriters discount
-
-
-
(134,000)
MBIA insurance
-
-
-
(62,000)
Other
(53,778
Total other financing
sources
-
_
Operating transfers in:
General Fund
-
9,102
9,102
8,597
Special Revenue Funds:
Mental Health Center
4,026
4,026
Education
3,623,144
-
3,623,144
4,996,378
Fire Service District Area 1
-
2,067
2,067
-
Total operating transfers in
3.623.144
15,195
3.638,339
5.004,975
Operating transfers out:
Special Revenue Fund:
Fire Service District Area 1
-
-
-
1,472
Mental Health Center
-
4.068
Total operating transfers out
-
-
5.540
Net operating transfers
3.623.144
15.195
3,638.339
4.999.435
Excess (deficiency) of revenues,
other financing sources and
operating transfers in over
expenditures, other financing
uses and operating transfers out
874,496
15,195
889,691
(1,279,675)
Fund balances at beginning of year
5,809,249
136,480
5,945,729
7.225.404
Fund balances at end of year
S 6 683,745
5151,675
S 6,835,420
$ 5.945,729
73
EXHIBIT C -3
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
SCHOOL BONDS
STATEMENT OF REVENUES EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Total other financing
sources
Operating transfers in:
Education Special Revenue
Fund
Total operating
transfers in
Excess (deficiency) of
revenues, other financing
sources and operating
transfers in over expendi-
tures and other financing
uses
Fund balance at beginning
of year
Fund balance at end of year
3,147,220 3,623,144 475,924 4,996,378
3,147,220 3,623,144 475,924 4,996,378
S (802,780
874,496 $ 1,677,276 (1,282,732)
5,809,249
S 6,683,745
7,091,981
$ 5,809,249
74
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Revenues:
Investments and property -
Interest income
$ 200,000
$ 455,201
$ 255,201
$ 305,707
Gain on exchange
-
33,246
33,246
-
Miscellaneous
-
2,321
2,321
Total revenues
200,000
490,768
290,768
305,707
Expenditures:
Debt service -
Principal
2,260,840
2,260,833
7
5,135,834
Interest
1,016,230
909,334
106,896
1,396,688
Fiscal agent fees
140,000
54,086
85,914
66,030
Other
15,600
15,163
437
(13,735)
Contingencies
717,330
-
717,330
Total expenditures
4,150,000
3,239,416
910,584
6,584,817
Deficiency of revenues over
expenditures
(3,950,000
(2,748,648
1,201,352
(6,279,110
Other financing sources (uses):
Proceeds of bond sales
-
-
-
10,000,000
Accrued interest
-
-
-
94,265
Bond premium
-
-
-
20,613
Purchase of restricted escrow
-
-
-
(9,865,100)
Underwriters discount
-
-
-
(134,000)
MBIA insurance
-
-
-
(62,000)
Other
-
-
-
(53,778
Total other financing
sources
Operating transfers in:
Education Special Revenue
Fund
Total operating
transfers in
Excess (deficiency) of
revenues, other financing
sources and operating
transfers in over expendi-
tures and other financing
uses
Fund balance at beginning
of year
Fund balance at end of year
3,147,220 3,623,144 475,924 4,996,378
3,147,220 3,623,144 475,924 4,996,378
S (802,780
874,496 $ 1,677,276 (1,282,732)
5,809,249
S 6,683,745
7,091,981
$ 5,809,249
74
EX C -4
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
OTHER
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
75
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Operating transfers in:
General fund
$ 9,000
$ 9,102
$ 102
$ 8,597
Special revenue funds:
Mental Health Center
4,000
4,026
26
-
Fire Service District Area 1
2,000
2,067
67
Total operating
transfers in
15,000
15,195
195
8,597
Operating transfers outs:
General fund
9,000
-
9,000
-
Special revenues funds:
Mental Health Center
4,000
-
4,000
4,068
Fire Service District Area 1
2,000
-
2,000
1,472
Total operating
transfers out
15,000
-
15,000
5,540
Net operating transfers
��
15,195
S15.195
3,057
Fund balance at the beginning
of year
136,480
133,423
Fund balance at the end of year
S151,675
S136,480
75
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.
1
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
JUNE 30.1990
WITH COMPARATIVE FIGURES FOR 1989
ASSETS
Cash and investments:
Equity in central treasury
Temporary cash investments
Other cash and cash equivalents
Receivables:
Other
State of Alaska
Accrued interest
Due from other funds
Various
Borough School Bond
Projects Improvements
$ 101,141 $101,409
481,556 -
15,794
1.046.071
$1.6_ 4� $101,409
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
Retainages payable
Deferred obligation demand
General obligation demand
bonds payable
Due from other funds
Total liabilities
Fund balances:
Reserved for encumbrances
Unreserved - designated for
subsequent year expenditures
Undesignated
Total fund balances (deficit)
$ 2,033 $
1,191 -
3.224
34,828 -
1,606,510 -
- 101.409
1.641.338 101.409
$1,6� $101,409
78
EXHIBIT D -1
School
Equipment
and
Furnishings
State School
Capital Major
Grants Maintenance
Totals
1990 1989
17.697
$ 17,697
17.697
17.697
$ 17,697
$ 208,575 $ 696,363 $1,107,488 $ 270,326
- 487,631 969,187 2,929,204
- - 4,641
- 9,282
89,147 - 89,147 211,606
- 1,193 16,987 11,648
1,063,768 234,187
$ 29�� $1,1�187 $3,246,577 $3,670,894
$ - $ - $ 2,033 $ 241,987
1,431 - 2,622 87,932
608,266 - 608,266 774,779
550,000
163.807
609,697
- 612,921
1,818,505
59,200
- 94,028
537,229
-
- 1,606,510
642,851
(371,175
1,185,187 933,118
672,309
(311,975
1,185,187 2,633,656
1,852,389
$ 29_�
$1,185 $3,246,577
$3,670,894
VW
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES. AND
CHANGES IN FUND BALANCES (DEFICITS)
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Revenues:
State sources
Licenses, fees, permits and
other local revenues
Investments and property
Insurance proceeds
Asbestos settlement
Total revenues
Expenditures:
Capital improvements:
Schools
General
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 sources over expenditures and
other financing uses
Fund (deficit) balances at beginning of year
Fund balances (deficit) at end of year
Various
Borough School Bond
Projects Improvements
$ 185,998 $
102,870 77,676
- 8.316
288.868 85.992
- 278,700
208.829
208.829 278.700
80.039 (192.708
- 550,000
935,500 80,000
- (400,000
935,500 230,000
1,015,539 37,292
625.799 64,117
$1,641,338 $ 101,409
80
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
EXHIBIT D -2
School
Equipment State School Totals
and Capital Major
Furnishings Grants Maintenance 1990 1989
$ 85,500 $ 391,732 $ - $ 663,230 $ 957,200
- - - 11,083
5,684 95,147 281,377 294,512
- - - 366,904
8.316 _ 647.480
85,500
397,416
95,147
952,923
2,277,179
122,913
306,214
-
707,827
4,825,007
-
-
-
208,829
2,408.673
122,913
306,214
-
916,656
7,233,680
(37,413
91,202
95,147
36,267
(4,956,501
-
-
-
550,000
2,200,000
-
1,015,500
2,705,027
-
(340,500
(80,000
(820,500
(1,350,000
(340,500
(80,000
745,000
3,555.027
(37,413)
(249,298)
15,147
781,267
(1,401,474)
55.110
(62,677
1,170,040
1,852,389
3,253.863
17,697
$(311,975)
$1,1�,187
$2,6�656
1,852,389
81
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
SCHEDULE OF CAPITAL PROJECTS
YEAR ENDED JUNE 30, 1990
Other School Projects
A_wropriations
44-200 Asbestos Abatement Grant
70,000
Transfers (To) From
(70,000)
-
Project
Prior 1990
Projects Funds
Appropriation
School Buildings
-
33,090
44 -215 Painting, Akhiok School
45 -201
Roof, East Elementary
$ - $ -
S 400,000 S -
S 400,000
45 -211
Hi Sch (Kod) Noise Abamlt
10,000 -
- -
10,000
45 -212
Landscaping - Port Lions
15,000 -
- -
15,000
45 -214
School Drawings - as Built
15,000 -
- -
15,000
45-285
Peterson Elementary
594,860 -
(85,000) -
509,860
45 -287
Old Harbor School
2,206,870 20,000
65,000 80,000
2,371,870
45 -292
Old Harbor School Fencing
- -
20,000 -
20,000
44 -203
Roof, East Elementary
- 400,000
(400,000)
-
Other School Projects
44-200 Asbestos Abatement Grant
70,000
-
(70,000)
-
-
44 -202 Work of Art - Auditorium
33,090
-
-
-
33,090
44 -215 Painting, Akhiok School
-
-
-
25,500
25,500
44 -216 Painting, Chiniak School
-
-
-
20,000
20,000
44 -217 Painting, Karluk School
-
-
25,000
25,000
44 -253 Asbestos Removal Program
80,000
-
(5,000)
-
000
44 -261 Kodiak Hi School Lockers
35,000
-
-
70,000
'
` U5 ;,ouu
44 -262 Painting - Main Elementary
35,000
-
-
-
35,000
44 -280 School Pedestrian Project
-
-
34,701
-
34,701
44 -340 Middle Bay Paving
590,230
-
-
-
590,230
44 -341 School Site Acquisition
400,000
-
-
-
400,000
44 -342 School Improvements - Var.
20,000
-
-
-
20,000
47 -200 Asbestos Abatement Grant
-
-
70,000
15,500
85,500
47 -280 School Pedestrian Project
-
34,701
(34,701)
-
-
N/A School Equipment
565,892
119,790
-
-
685,682
Other Structures
44 -183 KIB (Kana) Apartments
-
10,000
8,000
-
18,000
44 -187 Hospital Construction
-
-
123,810
-
123,810
44 -315 Bayside Fire Equipment
30,000
-
-
-
30,000
47 -177 Chiniak Emergency Bldg.
100,000
-
-
-
100,000
47 -183 KIB (Kana) Apartments
-
100,000
17,000
-
117,000
47 -187 Hospital Construction
923,810
-
(123,810)
75,650
875,650
47 -189 Hospital Design & DeveLm
1,000,000
-
-
-
1,000,000
47 -253 Asbestos Removal Project
2,815,000
-
-
-
2,815,000
Road, Water and Land Improvements
44 -208 Smokey's Clean Up
42,000
-
-
-
42,000
44 -281 Chiniak Subdivision
389,770
-
-
-
389,770
44 -293 Airport Feasibility
40,000
-
(9,000)
-
31,000
44 -295 King Crab - RFP
50,000
-
6,000
-
56,000
44 -343 Drainage Plan Air Photos
-
25,000
-
-
25,000
44 -344 Parks Development
-
40,000
-
-
40,000
44 -348 Parks Expansion
-
-
-
40,000
40,000
44 -345 Water & Sewer, Womens Bay
-
100,000
-
-
100,000
47 -346 Water & Sewer, Monashka Bay
-
100,000
-
-
100,000
44-347 Dumpster Pads
-
20,000
-
24,500
44,500
47 -186 Hospital Heli -pad
250,000
(100,000)
(17,000)
-
133,000
47 -255 Lakeside Improvement
2,709,640
-
(124,800)
-
2,584,840
47 -265 Sharatin Road
590.500
-
124.800
-
715.300
Total Capital Projects
513.611.662
S 869,491
S-
S 376,150
$14,857.303
82
1
1
1
i
1
i
i
1
i
1
1
1
1
1
1
i
1
EXHIBIT D -3
Expenditures
Unencumbered
Total
Unexpended
Current
Balance
Prior
1990
Expenditures
Balance
Encumbrances
Available
S -
S 455
S 455
S 399,545
S -
S 399,545
10,000
10,000
189
683
872
14,128
-
14,128
-
15,000
15,000
-
-
-
24,334
2,070
26,404
483,456
-
483,456
2,120,923
250,947
2,371,870
-
_
_
_
20,000
_
20,000
-
33,090
-
33,090
-
867
867
24,633
400
24,233
-
462
462
19,538
-
19,538
832
832
24,168
-
24,168
30,494
2_5, 952 _
56,446
18,554
-
18,554
493
4,850
5,343
99,657
-
99,657
1,511
33,489
35,000
-
-
-
836
836
33,865
-
33,865
590,068
-
590,068
162
-
162
940
350
1,290
398,710
-
398,710
3,888
3,888
16,112
-
16,112
85,500
-
85,500
-
-
_
562,769
122,913
685,682
-
-
-
-
13,299
13,299
4,701
-
4,701
927
29,073
30,000
123,810
-
-
-
123,810
-
11,623
88,377
100,000
-
-
-
117,000
117,000
-
-
-
875,650
-
875,650
-
-
-
865,228
53,474
918,702
81,298
59,200
22,098
2,736,602
-
2,736,602
78,398
-
78,398
28,179
-
28,179
13,821
-
13,821
218,664
18,253
236,917
152,853
-
152,853
22,290
8,710
31,000
-
_
_
328
21,244
21,572
34,428
34,428
-
'
25,000
-
25,000
-
40,000
40,000
-
-
_
-
1,517
1,517
38,483
-
38,483
-
2,520
2,520
97,480
-
97,480
-
2
-Z,351
-SZ-W-
-
3,068
3,068
4444
-
41,432
9 6,762
36,238
133,000
_
_
2,542,669
2,867
2,545,536
39,304
-
39,304
13,959
5,071
19,030
696,270
696,270
$10,830,102
$916
$11,746,758
$3,110,545
S 94,028
$3,016,517
83
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 Health Systems Management Company.
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING BALANCE SHEETS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
86
ASSETS
Totals
Sanitary
Water
Sewer
Services
Utility
Utility
Hospital
1990
1989
Current assets:
Equity in central treasury
S 37,074
S 278,789
S 49,016
S -
S 364,879
S 8,693
Temporary investments
-
-
-
-
-
250,000
Due from other funds
Other cash and cash equivalents
-
-
-
-
-
-
2,370,163
2.370.163
16,580
2,524,150
37.074
278.789
49.016
2.370.163
2,735.042
2.799,423
Receivables:
Customers and patients
8,499
21,679
39,491
1,662,305
1,731,974
2,115,885
City of Kodiak
-
-
-
48,394
48,394
103,749
Third party patient payors
-
25.000
25,000
27,000
8,499
21,679
39,491
1,735,699
1,805,368
2,246,634
Less allowance for
doubtful receivables
(6,901
(19,663
(350,000
(376,564
(459.282
Net receivables
8.499
14,778
19,828
1,385.699
1,428.804
1.787,352
Prepaid expenses
-
-
-
14,455
14,455
100,699
Inventories at cost
-
213,502
213.502
190.883
227.957
227.957
291.582
Total current assets
45.573
293.567
68,844
3.983.819
4.391.803
4.878.357
Restricted assets:
Equity in central treasury
-
10,080
10,080
-
20,160
-
Temporary investments
-
240,778
240,778
-
481,556
476,382
Interest receivable
7,897
7.897
15.794
9.316
Total restricted assets
258,755
258,755
517.510
485.698
Borough designated investment
-
-
767,567
767
638,658
767,567
767,567
638.658
Fixed assets, at cost:
Unclassified utility plant
in
2,332,173
5,671,796
9,870,603
-
17,874,572
17,874,572
service
Hospital building and
fixed equipment
-
-
-
4,193,853
4,193,853
4,186,825
Major moveable equipment
243,970
-
1,610.658
1.854,628
1.933,487
2,576,143
5,671,796
9,870,603
5,804,511
23,923,053
23,994,884
Less accumulated depreciation
(204.559
(645,789
8�) (2.385,038
(4,132,709
(3.685,933
2,371,584
5,026,007
8,973,280
3,419,473
19,790,344
20,308,951
Construction work in progress
-
15.689
15.721
-
31,410
109,607
Net fixed assets
2.371,584
5,041.696
8,989.001
3.419.473
19.821,754
20,418.558
5252 4
55,594,018
S9S9 3
$ 8,170,859
$25,498,634
$26,421,271
86
EXHIBIT E-1
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING BALANCE SHEETS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
LIABILITIES AND FUND EQUITIES
L�
I -
1 8 7
Totals
Sanitary
Water
Sewer
Services
Utility
Utility
Hospital
1990
1989
Liabilities:
Payable from current assets:
Accounts payable
S 37,454
S 11,678
S 10,904
S 280,162
S 340,198
S 128,847
Due to other funds
10,525
Customer deposits
14,441
14,441
11,655
Accrued compensation
2,978
-
-
343,198
346,176
347,142
Other accrued liabilities
-
21,613
21.613
20.975
'
40.432
26.119
10.904
644.973
722.428
519.144
Payable from restricted assets:
Due to other funds
-
6.055
Total restricted liabilities
-
6.055
Total liabilities
40.432
26.119
10.904
644.973
722.428
525.199
Fund equities:
'
Contributions in aid
of construction:
City of Kodiak
-
189,166
40,000
-
229,166
229,166
State of Alaska
2,412,453
5,482,630
9,630,603
-
17,525,686
17,623,815
Federal government
-
_
200,000
2,237,104
2,437,104
2,437,104
Kodiak Island Borough
1,451.544
1.451.544
1,439.928
2,412,453
5,671,796
9,870,603
3,688,648
21,643,500
21,730,013
Less amortization of contributions
'
in aid of construction
(201.205
(645.757
(897,227
(1.744.189
(1.361.150
Net contributions in
aid of construction
2,211.248
5.026,039
8,973,376
3,688.648
19.899,311
20,368.863
'
Retained earnings:
Undesignated
165.477
541.860
332.320
3,837.238
4.876,895
5.527.209
Total fund equities
2,376.725
5.567.899
9,305.696
7,525.886
24.776,206
25,896,072
'
52,417,157
$5,594,018
$9,316,600
$8,170.859
$25 498.634
$26,421,271
L�
I -
1 8 7
EXHIBIT E-2
Revenues:
Water sales
Sewer service charges
Refuse collection
Sanitary services user fees
Patient revenues
Installation charges
Other
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Total revenues
Operating expenses:
Personal services
Waste collection
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 loss
Other income:
Interest income
Other, primarily State of
Alaska revenue sharing
(95,231 (95.800 (158,587 (1.179.808 (1,529.426 (734,583
- 32,829
32.829
20,273 276,635
329,737
280,362
- 93.335
Totals
Sanitary
Water
Sewer
413.796
13( 8,314 (809.838
(1.106.354
Services
Utility
Utility
Hospital
1990
1989
335.000
(138,314) (796,838)
S -
S 191,450
S -
S - S
191,450
S 182,051
-
234,935
-
234,935
230,147
945,714
-
-
-
945,714
503,569
227,933
-
-
-
227,933
162,207
-
5,945,858
5,945,858
6,105,723
5,000
2,117
-
7,117
2,348
7.468
4.039
2,009
125.786
139.302
207.077
1,181,115
200.489
239.061
6.071,644
7.692.309
7.393.122
176,863
23,915
21,188
-
221,966
300,672
887,439
-
-
-
887,439
609,171
157,727
139,516
-
297,243
281,873
23
23,465
28,463
3,834
21,855
-
54,152
42,925
77,923
109,653
196,612
312,599
696,787
717,679
-
-
1,912
-
-
-
3,379,435
3,379,435
3,109,657
618,580
618,580
592,110
82,193
1,160
1,045
2,508,250
2,592,648
1,899,789
-
-
17.432
432.588
450.020
571.917
1,276.346
296.289
397,648
7.251.452
9.221.735
8.127.705
Total revenues
Operating expenses:
Personal services
Waste collection
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 loss
Other income:
Interest income
Other, primarily State of
Alaska revenue sharing
(95,231 (95.800 (158,587 (1.179.808 (1,529.426 (734,583
- 32,829
32.829
20,273 276,635
329,737
280,362
- 93.335
93,335
133.434
20,273 369.970
423.072
413.796
13( 8,314 (809.838
(1.106.354
(320,787
- 13.000
73.000
335,000
- 13.000
73.000
335.000
(138,314) (796,838)
(1,033,354)
14,213
Loss before operating transfers (95.231 (62,971
Operating transfers in 60.000
Net operating transfers 60.000
Net earnings (Loss) (35,231) (62,971)
Amortization of contributions
in aid of construction 76.805
Increase (decrease) in retained
earnings 41,574
Retained earnings at beginning of year 123.903
Retained earnings at end of year S 165,477
109.645 196.590 - 383,040 401.913
46,674 58,276 (796,838 (650,314 416.126
495,186 274,044 4,634,076 5,527,209 5,111,083
S 541,860 SS 332,320 S 3,837,238 S 4,876,895 $5,527,209
88
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Operating loss
Adjustments to reconcile operating
Loss to net cash provided by operating
activities:
Depreciation
Change in provision for uncollectible accounts
Changes in assets and liabilities:
Accounts receivable -
Customers and patients
Lutheran Hospitals and Homes Society of
America
City of Kodiak
Third party patient payors
Prepaid expenses
Inventories at cost
Receivable from State of Alaska
Accounts payable
Due to other funds
Customer deposits
Accrued compensation
Other accrued liabilities
Total adjustments
Net cash provided by (used for)
operating activities
Cash flows from noncapital financing activities:
State of Alaska, Revenue Sharing payments
received
Operating grants received
Operating transfers in from other funds
Net cash provided by noncapitaL
financing activities
Cash flows from capital and related financing
activities:
Payments made on contracts
Acquisition and construction of capital assets
Net borrowings (repayments) on interfund
capital - related expenditures
Receipt of gifts restricted by donor for
capital purchases
Proceeds from sale of equipment
Net cash used for capital and
related financing activities
Cash flows from investing activities:
Repayment of loan to Lutheran Hospitals and
Homes Society of America
Change in assets whose use is limited by
the Borough
Interest and dividends paid on investments
Net cash provided by investing
activities
Net change in cash and cash
equivalents
Cash and cash equivalents at
beginning of year
Cash and cash equivalents at end
of year
EXHIBIT E -3
Sanitary Water Sewer
Services Utilit Utility Hospital Total 1989
S(95,231) 5(95,800) $(158,587) S0,179,808) S(1,529,426) S (734,583)
77,923 109,653 196,612 312,599 696,787 717,679
- 2,260 15,022 (100,000) (82,718) 204,000
3,102 7,791 12,853
(28,374) (10,868) 8,664
(10,525)
2,786 -
(2,979) - -
49,672 111,622 222,626
360,165 383,911 (585,824)
963,324 1,347,244 1,136.903
(45,559 15,822 64,039
(216,484 (182,182 402,320
109,460 109,460 236,900
- 1,591
60,000 - - 13,000 73,000 335,000
60,000 - - 122,460 182,460 573,491
(60,646)
- (3,568) (16,363) (254,492) (274,423) (615,096)
- (3,028) (3,027) - (6,055) 6,055
11,616 11,616 23,994
35,187 35,187 -
(6,596 (19,390 (207,689 (233,675 (645,693
1,846,000
- - (128,909) (128,909) 171,739
- 29,590 17,034 276,635 323,259 271,046
- 29,590 17,034 147,726 194,350 2,288,785
14,441 38,816 61,683 (153,987) (39,047) 2,618,903
22,633 490,831 238,191 2,524,150 3,275,805 656,902
S 37,074 5529,647 S 299,874 S 2,37 ,163 S 3,236,758 $3,275,805
89
283,141
103,749
103,749
(97,498)
(21,394)
(21,394)
151,947
86,244
86,244
(100,699)
(22,619)
(22,619)
(17,080)
367,812
241,929
211,351
76,847
-
(10,525)
10,525
2,786
4,354
2,013
(966)
106,691
638
638
15.008
963,324 1,347,244 1,136.903
(45,559 15,822 64,039
(216,484 (182,182 402,320
109,460 109,460 236,900
- 1,591
60,000 - - 13,000 73,000 335,000
60,000 - - 122,460 182,460 573,491
(60,646)
- (3,568) (16,363) (254,492) (274,423) (615,096)
- (3,028) (3,027) - (6,055) 6,055
11,616 11,616 23,994
35,187 35,187 -
(6,596 (19,390 (207,689 (233,675 (645,693
1,846,000
- - (128,909) (128,909) 171,739
- 29,590 17,034 276,635 323,259 271,046
- 29,590 17,034 147,726 194,350 2,288,785
14,441 38,816 61,683 (153,987) (39,047) 2,618,903
22,633 490,831 238,191 2,524,150 3,275,805 656,902
S 37,074 5529,647 S 299,874 S 2,37 ,163 S 3,236,758 $3,275,805
89
EXHIBIT E -4
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
ASSETS
1990
1989
Current assets:
Equity in central treasury
$ 37,074
$ 22,633
Customer receivables
8,499
11,601
Total current assets
45,573
34.234
Fixed assets, at cost:
Unclassified plant in service
2,332,173
2,332,173
Major movable equipment
243.970
243.970
2,576,143
2,576,143
Less accumulated depreciation
(204.559
(126.636
Net fixed assets
2,371.584
2.449.507
$2.417_157
$2.483
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Accounts payable
$ 37,454
$ 65,828
Accrued compensation
2.978
5.957
Total current liabilities
40.432
71.785
Fund equities:
Contributions in aid of construction:
State of Alaska
2,412,453
2,412,453
Less amortization of contributions
in aid of construction
(201.205
(124.400
2,211,248
2,288,053
Retained earnings, undesignated
165.477
123.903
$2.4� 17_157
$2.483.741
99
EXHIBIT E -5
KODIA ISLAND BOROUG
SANITARY SERVICES ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTU
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
41
1990
_
Variance -
Favorable
1989
Bud eg t
Actual (Unfavorable)
Actual
Revenues:
Refuse collection
$ 922,000
$ 945,714
$ 23,714
$ 503,569
Sanitary services user fees
218,400
227,933
9,533
162,207
Other
-
7,468
7.468
317
Total revenues
1.140,400
1.181.115
40.715
666.093
Operating expenses:
Waste collection
903,560
887,439
16,121
609,171
Waste disposal:
Personal services
176,520
176,863
(343)
223,343
Contracted services
60,000
23,465
36,535
-
Support -goods and
services
72,800
80,647
(7,847)
96,431
Baler support costs
-
-
-
5,086
Sanitary services
-
-
-
10,826
Recycling effort
-
1,546
(1,546)
-
Repairs and maintenance
16,000
28,463
(12,463)
-
Depreciation
14.300
77.923
(63.623
70.544
Total operating
expenses
1.243.180
1.276.346
(33.166
1.015.401
Operating Loss
(102,780)
(95,231)
7,549
(349,308)
Other income
-
-
1.206
Interest income
-
Loss before operating
transfers
(102,780)
(95,231)
7,549
(348,102)
Operating transfer
60.000
60.000
-
335.000
Net loss
$ (42.780
(35,231)
7,549
(13,102)
Amortization of contributions
in aid of construction
76.805
69.426
Increase in retained earnings
41.574
56.324
Retained earnings at beginning
of year
123.903
67.579
Retained earnings at end of year
S 165A77
$ 1� 2
41
EXHIBIT E -6
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
92
1990
1989
Operating loss
$(95,231)
$(349,308)
Adjustments to reconcile operating loss to net
cash provided by operating activities:
Depreciation
77,923
70,544
Changes in assets and liabilities:
Receivable from customers
3,102
11,935
Accounts payable
(28,374)
65,383
Accrued compensation
(2.979
3.621
Total adjustments
49.672
151.483
Net cash used for operating
activities
(45.559
(197.825
Cash flows from noncapital financing activities:
Operating transfers in from other funds
60.000
335.000
Net cash provided by noncapital
financing activities
60.000
335.000
Cash flows from capital and related financing
activities:
Acquisition and construction of capital assets
-
(141.330
Net cash used for capital and related
financing activities
-
(141.330
Cash flows from investing activities:
Interest and dividends paid on investments
-
1.206
Net cash provided by investing activities
-
1.206
Net change in cash and cash equivalents
14,441
(2,949)
Cash and cash equivalents at beginning of
year
22.633
25.582
Cash and cash equivalents at end of year
37,074
22,633
92
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
1990 1989
ASSETS
Current assets:
Equity in central treasury
$ 278,789
$ 2,640
Temporary investments
-
250,000
Customer receivables
21,679
29,470
Less allowance for doubtful receivables
(6.901
(4.641
Net customer receivables
14,778
24,829
Total current assets
293.567
277.469
Restricted assets:
Equity in central treasury
10,080
-
Temporary investments
240,778
238,191
Interest receivable
7.897
4.658
Total restricted assets
258.755
242.849
Fixed assets, at cost:
Unclassified utility plant in service
5,671,796
5,671,796
Accumulated depreciation
(645,789
(536,136
Net utility plant in service
5,026,007
5,135,660
Construction work in progress
15.689
61.185
Net fixed assets
5.041.696
5,196.845
$5,5� 9� 8 $5,7
94
EXHIBIT E -7
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Payable from current assets:
Accounts payable
Customer deposits
Total payable from current assets
Payable from restricted assets:
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
1990 1989
$ 11,678 $ 22,546
14.441 11.655
26.119 34,201
3,028
3.028
26.119 37.229
189,166
5,482.630
5,671,796
(645.757
5,026,039
541.860
5.567.899
S5,594
189,166
5,531,694
5,720,860
(536,112
5,184,748
495,186
5,679,934
$5,71
95
EXHIBIT E -8
ODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN RETAINED EARNINGS - BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Revenues:
Water sales
Installation charges
Other
Total revenues
Operating expenses:
Personal services
Purchased water
Repairs and maintenance
Depreciation
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
Net loss
Amortization of contributions
in aid of construction
Increase in retained earnings
Retained earnings at beginning
of year
Retained earnings at end of year
109.645
46,674
495.186
$ 541,860
108.148
52.904
442.282
$ 495,186
96
1990
Variance
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
$190,000
$191,450
$ 1,450
$182,051
5,000
5,000
-
2,348
11.000
4.039
(6.961
17.242
206.000
200.489
(5.511
201.641
27,500
23,915
3,585
40,786
100,000
157,727
(57,727)
111,604
30,000
3,834
26,166
17,292
36,100
109,653
(73,553)
108,157
-
-
-
808
500
-
500
265
100
-
100
34
500
-
500
582
1,100
9
1,091
1,221
2,700
1,151
1,549
577
-
-
-
1,305
7.500
7.500
450
206.000
296.289
(90.289
283.081
-
(95.800
(95.800
(81,440
32.829
32.829
26.196
$
(62,971)
$(62,971)
(55,244)
109.645
46,674
495.186
$ 541,860
108.148
52.904
442.282
$ 495,186
96
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
Operating loss
Adjustments to reconcile operating loss to net
cash provided by operating activities:
Depreciation
Change in provision for uncollectible accounts
Changes in assets and liabilities:
Receivable from customers
Receivable from State of Alaska
Accounts payable
Customer deposits
Total adjustments
Net cash provided by operating
activities
Cash flows from capital and related financing
activities:
Payments made on contracts
Acquisition and construction of
capital assets
Net borrowings (repayments) on interfund
capital - related expenditures
Receipt of gifts restricted by donor for
capital purchases
Net cash used for capital and related
financing activities
Cash flows from investing activities:
Interest and dividends paid on investments
Net cash provided by investing activities
Net change in cash and cash equivalents
Cash and cash equivalents at beginning of
year
Cash and cash equivalents at end of year
97
1990
$(95,800)
109,653
2,260
7,791
(10,868)
2.786
111.622
15.822
(3,568)
(3,028)
(6.596
29.590
29.590
38,816
490.831
$ 529,647
EXHIBIT E -9
1989
$(81,440)
108,157
(15,801)
183,906
14,872
4.354
295.488
214.048
(30,323)
(18,102)
3,028
3.721
(41.676
21.538
21.538
193,910
296.921
$ 490,831
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
A SSET 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
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
1990 1989
$ 49,016 $ -
39,491 52,344
(19.663 (4.641
19.828 47.703
68.844 47.703
10,080 -
240,778 238,191
7.897 4.658
258.755 242.849
9,870,603
(897.323
8,973,280
15.721
8.989.001
$9,316.600
9,870,603
(700,711
9,169,892
48.422
9.218.314
$9,508.866
98
EXHIBIT E -10
KODIA ISLAND BOROUGH
SEWER ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
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:
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
1990 1989
$ - $ 10,525
10.904 2.240
10.904 12.765
3,027
3.027
10.904 15.792
40,000
9,630,603
200.000
9,870,603
(897.227
8,973.376
332.320
9.305.696
$9.300
40,000
9,679,668
200.000
9,919,668
(700,638
9.219.030
274.044
9.493.074
$9,5
99
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, 1990
WITH COMPARATIVE TOTALS FOR 1989
Revenues:
Sewer service charges
Installation charges
Other
Total revenues
Operating expenses:
Personal services
Purchased sewer treatment
Repairs and maintenance
Depreciation
Installation costs
Other:
Operating supplies
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
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
_
1990
Variance
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
$243,940
$ 234,935
$ (9,005)
$ 230,147
5,000
2,117
(2,883)
-
3.200
2.009
(1.191
3.248
252.140
239.061
(13.079
233.395
22,500
21,188
1,312
36,543
172,000
139,516
32,484
170,269
20,000
21,855
(1,855)
25,633
13,700
196,612
(182,912)
239,647
-
-
-
1,912
2,000
578
1,422
-
15,000
17,432
(2,432)
16,224
500
-
500
850
1,000
-
1,000
265
100
-
100
34
100
-
100
573
1,000
10
990
701
-
457
(457)
373
4,240
4.240
1.241
252.140
397.648
(145.508
494.265
-
(158.587
(158.587
(260,870
20.273
20.273
10.554
$
(138,314)
$(13�8,314
(250,316)
196.590
224,339
58.276
(25.977
274.044 300.021
332 320 $ 27 �_
100
'
EXHIBIT E -12
KODIAK ISLAND BOROUGH
'
SEWER ENTERPRISE FUND
STATEMENT OF CASH FLOWS
'
YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE TOTALS FOR 1989
t
1990
1989
'
Operating loss
$(158,587)
$(260,870)
Adjustments to reconcile operating loss to net
cash provided by operating activities:
'
Depreciation
196,612
239,647
Change in provision for uncollectible accounts
15,022
-
Changes in assets and liabilities:
'
Receivable from customers
12,853
(2,238)
Receivable from State of Alaska
183,906
Accounts payable
8,664
109
'
Due to other funds
(10.525
10.525
Total adjustments
222.626
431.949
'
Net cash provided by operating
activities
64.039
171.079
Cash flows from noncapital financing activities:
'
Operating grants received
-
1.591
Net cash provided by noncapital
financing activities
1.591
Cash flows from capital and related financing
activities:
'
Payments made on contracts
-
(30,323)
Acquisition and construction of
capital assets
(16,363)
(22,481)
'
Net borrowings (repayments) on interfund
capital - related expenditures
(3,027)
3,027
Receipt of gifts restricted by donor for
capital purchases
-
6.511
'
Net cash used for capital and
related financing activities
(19.390
(43.266
'
Cash flows from investing activities:
Interest and dividends paid on investments
17.034
5.896
t
Net cash provided by investing
activities
17.034
5.896
Net change in cash and cash equivalents
61,683
135,300
'
Cash and cash equivalents at
beginning of year
238.191
102.891
Cash and cash equivalents at end
'
of year
299.874
238,191
1 101
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED DECEMBER 31. 1989
WITH COMPARATIVE TOTALS FOR 1988
ASSETS
Current assets:
Other cash balances
Receivables:
Patients
City of Kodiak
Third party
Less allowance for doubtful receivables
Net receivables
Prepaid expenses
Inventories, at cost
Total current assets
Borough designated investments
Fixed assets, at cost:
Land
Building and fixed equipment
Major movable equipment
Less accumulated depreciation
Net fixed assets
1990 1989
$2,370,163 $ 2,524,150
1,662,305
2,022,470
48,394
103,749
25,000
27,000
(350.000
(450,000
1,385,699
1,703,219
14,455
100,699
213.502
190,883
3.983,819 4.518.951
767,567 638,658
38,551
38,551
4,155,302
4,148,274
1.610.658
1,689.517
5,804,511
5,876,342
(2.385,038
(2.322.450
3.419.473
3,553,
S 8.170,859 $ 8,711,501
102
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
EXHIBIT E -13
HOSPITAL ENTERPRISE FUND
BALANCE SHEET
YEAR ENDED DECEMBER 31, 1989
WITH COMPARATIVE TOTALS FOR 1988
LIABILITIES AND FUND EQUITY
$8,1��9 $8,711,501
103
1990
1989
Current liabilities:
Accounts payable
$ 280,162
$ 38,233
Accrued liabilities:
Compensation
343,198
341,185
Other
21.613
20.975
Total current liabilities
644,973
400,393
Fund equities:
Contributions in aid of construction:
Federal government
2,237,104
2,237,104
Kodiak Island Borough
1.451.544
1.439.928
3,688,648
3,677,032
Retained earnings, undesignated
3.837.238
4.634.076
Total fund equities
7.525.886
8.311.108
$8,1��9 $8,711,501
103
EXHIBIT E -14
KODIAK I BOROUGH
HOSPITAL ENTERPRISE FUND
STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN FUND EQUITY
YEAR ENDED DECEMBER 31, 1989
WITH COMPARATIVE TOTALS FOR 1988
104
1990
1989
Revenues:
Patient
$7,202,789
$6,693,120
Less allowances for uncollectible accounts
(1.256,931
(587,397
Net patient revenues
5,945,858
6,105,723
Other
125,786
186,270
Total revenues
6,071,644
6,291,993
Operating expenses:
Depreciation
312
299,331
Professional care of patients
3,379,435
3,109,657
Dietary
432,588
434,071
Plant operation and household
618,580
592,110
General administrative
2,508,250
1,899,789
Total operating expenses
7,251,452
6,334,958
Operating income (loss)
(1,179,808)
(42,965)
Other income (expense):
Interest income
276,635
242,406
State of Alaska, Revenue Sharing
134,460
149,400
Loss on disposal of equipment
(41,125
(15,966
Total other income
369,970
375,840
Net Earnings (loss) before operating
transfers
(809,838)
332,875
Operating transfer in
13,000
-
Net Earnings (loss)
(796,838)
332,875
Fund equity at beginning of year
8,311,108
7,964,471
Donor restricted gifts
11,616
13,762
Fund equity at end of year
$7,525,886
$8,311,108
104
1 105
EXHIBIT E -15
KODIAK ISLAND BOROUGH
'
HOSPITAL ENTERPRISE FUND
STATEMENT OF CASH FLOWS
YEAR ENDED DECEMBER 31, 1989
WITH COMPARATIVE TOTALS FOR 1988
1990
1989
Operating loss
$(1,179,808)
$ (42,965)
Adjustments to reconcile operating loss to net
cash provided by operating activities:
Depreciation
312,599
299,331
Change in provision for uncollectible accounts
(100,000)
204,000
Changes in assets and liabilities:
Accounts receivable -
Patients
360,165
(579,720)
Lutheran Hospitals and Homes Society of
America
-
283,141
City of Kodiak
103,749
(97,498)
'
Third party patient payors
(21,394)
151,947
Prepaid expenses
86,244
(100,699)
Inventories at cost
(22,619)
(17,080)
Accounts payable
241,929
(3,517)
Accrued compensation
2,013
103,070
other accrued liabilities
638
15,008
Total adjustments
963,324
257,983
Net cash provided by (used for)
_
operating activities
(216,484
215,018
Cash flows from noncapital financing activities:
State of Alaska, Revenue Sharing payments
received
109,460
236,900
1
Operating transfers in from other funds
13,000
-
Net cash provided by noncapital
financing activities
122,460
236,900
Cash flows from capital and related financing
'
activities:
Acquisition and construction of capital
assets
(254,492)
(433,183)
Receipt of gifts restricted by donor for
capital purchases
11,616
13,762
Proceeds from sale of equipment
35,187
-
Net cash used for capital and
related financing activities
(207,689
(419,421
Cash flows from investing activities:
Repayment of loan to Lutheran Hospitals and
Homes Society of America
-
1,846,000
Change in assets whose use is limited by
the Borough
(128,909)
171,739
Interest and dividends on investments
276,635
242,406
Net cash provided by investing
activities
147,726
2,260,145
Net change in cash and cash equivalents
Cash and cash equivalents at
(153,987)
2,292,642
beginning of year
2,524,150
231,508
Cash and cash equivalents at end
of year
S 2.370,163
$2,550
1 105
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
C
r
1
This fund accounts
for deferred
compensation
and accumulated earnings thereon for
participants in the
Borough's IRC
Section 457
Deferred Compensation Plan.
C
r
1
EXHIBIT F -1
KODIAK ISLAND BOROUGH
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS.
LIABILITIES AND FUND BALANCES
YEAR ENDED JUNE 30, 1990
Balance at Balance at
July 1. 1989 Additions Deletions June 30, 1990
STUDENT ACTIVITIES FUND
ASSETS
Cash, including time
certificates of deposit $ 94,424
Other receivables 720
95,144
$249,853 $246,812 $ 97,465
720
$ 249,853 $247,532 97,465
LIABILITIES
Accounts payable $ 2,784 $ 5,053 $ 2,784 $ 5,053
Due to student organizations 92.360 244.800 244,748 92.412
95,144 $249,853 $247,532 97,465
DEFERRED COMPENSATION FUND
ASSETS
ICMA investments (at market value) $519.926
LIABILITIES
Due to participants $519,926
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash, including time
certificates of deposit $ 94,424
Other receivables 720
ICMA investments 519.926
$ 615.070
LIABILITIES
Accounts payable $ 2,784
Due to student organizations 92,360
Due to participants 519.926
$ 615,070
$ 129,892 26,838 $622,980
$ 129,892 26,838 $622,980
$249,853 $246,812 $ 97,465
- 720 -
129.892 26.838 622.980
$ 379,745 $274,370 $720,445
$ 5,053 $ 2,784 $ 5,053
244,800 244,748 92,412
129.892 26.838 622.980
$ 379,745 $274,370 $720,445
108
GENERAL FIXED ASSETS ACCOUNT GROUP
This is a self - balancing account group which records fixed assets of the Borough and
School District other than those recorded in the Enterprise Funds.
,7
� I
1
1
LI
L'�
EXHIBIT G -1
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS GROUP
STATEMENT OF GENERAL FIXED ASSETS BY SOURCE
JUNE 30, 1990
General fixed assets:
Land
Buildings
Improvements other than buildings
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
64,302,588
842,139
3,540,096
1,819,351
$77,973,489
$48,290,811
662,245
14,968,151
1,624,357
1,951,582
10,476,343
$77,973,489
110
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS GROUP
STATEMENT OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
JUNE 30, 1990
EXHIBIT G-2
111
Improvements
Machinery
Other Than
and
Total
Land
Buildings
Buildings
Equipment
Staff agencies:
Borough mayor
$ 25,925
S -
S -
S -
S 25,925
Borough clerk
35,038
-
-
-
35,038
72,684
-
-
-
72,684
Assessing
24,232
-
-
-
24,232
Community development
56,667
-
-
-
56,667
Engineering /Facilities
93,314
-
-
-
93,314
Data services
330,572
-
-
-
330,572
Resource management
8,950
-
-
-
8,950
General administration
121,248
-
-
-
121,248
Mental health
78,193
-
-
78,193
Total staff agencies
846,823
-
-
-
846,823
Public safety:
Emergency preparedness
194,724
-
100,000
-
94,724
Fire Protection Area 1
692,490
-
455,584
-
236,906
Bell's Flats Fire District
606,698
425,655
-
181,043
Total public safety
1,493,912
-
981,239
-
512,673
Schools
58,806,370
-
58,806,370
-
-
School equipment
2,180,600
-
-
-
2,180,600
Teacher housing
125,715
-
125,715
-
-
General governmental buildings
4,389,264
-
4,389,264
-
-
Building sites
110,648
110,648
-
-
-
Playgrounds
710,239
-
-
710,239
-
Other
131,900
-
-
131,900
-
Total general fixed assets
allocated to functions
68,795,471
110,648
64,302,588
842,139
3,540,096
Undeveloped Land
7,358,667
7,358,667
-
-
-
Construction work in progress
1,819,351
1,819,351
-
-
Total general fixed assets
$77,973,489
57,469,315
$66,121,939
$842,139
53,540,096
111
EXHIBIT G -3
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS GROUP
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
JUNE 30, 1990
Staff agencies:
Borough mayor
Borough clerk
Finance
Assessing
Community development
Engineering /Facilities
Data services
Resource management
General administration
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. 1989
Additions
Deductions
June 30. 1990
$ 13,007
$ 12,918
$ -
$ 25,925
26,096
8,942
-
35,038
66,487
13,381
(7,184)
72,684
22,743
6,799
(5,310)
24,232
41,300
27,680
(12,313)
56,667
95,933
8,782
(11,401)
93,314
296,758
39,218
(5,404)
330,572
2,530
6,420
-
8,950
97,088
26,284
(2,124)
121,248
58.633
33.618
(14.058
78.193
720.575
184.042
(57,794
846.823
94,724
100,000
-
194,724
661,275
31,215
-
692,490
606.698
-
606.698
1.362.697
131.215
-
1.493.912
53,294,877
5,679,428
(167,935)
58,806,370
1,998,579
231,561
(49,540)
2,180,600
125,715
-
-
125,715
4,389,264
-
-
4,389,264
110,648
-
-
110,648
710,239
-
-
710,239
131.900
-
131.900
62,844.494
6,226,246
(275.269
68.795,471
7,358,667
-
-
7,358,667
6.911.287
687.492
_(5,779.428
1.819.351
$77,114,448 $6,913,738 $(6,054,697 $77,973,489
112
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.
r
1
1
EXHIBIT H -1
KODIAK ISLAND BOROUGH
GENERAL LONG -TERM DEBT ACCOUNT GROUP
STATEMENT OF GENERAL LONG -TERM DEBT
JUNE 30, 1990
WITH COMPARATIVE FIGURES FOR 1989
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:
1986A Improvement
1989 Refunding
Environmental Protection Agency loan
Accrued annual leave
1990 1989
$ 6,683,745 $ 5,809,248
151.675 136.481
6.835.420 5.945.729
8,626,255 11,190,752
302,083 322,910
8,928,338 11,513,662
$15,763,758 $17,459,391
$ 6,000,000
9.310.000
15.310.000
302,083
151.675
453.758
$15.763.758
$ 7,000,000
10,000,000
17,000,000
322,910
136,481
459,391
$17,459,391
114
SECTION 3
STATISTICAL SECTION
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.
t
1
1
EXHIBIT I -1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30, 1990
Annual Principal and Interest Requirements*
General Oblieation School Bonds
Calendar
Year
Principal
Interest
Total
1990
$1,075,000
$ 911,843
$ 1,986,843
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
$15,310,000
$5,8�
$21,116,083
* Does not include issues that have been fully defeased.
** Includes imputed interest of 8% on Variable Rate Demand Bonds, Series 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.
116
EXHIBIT I-2
KODIAK ISLAND BOROUGH
' KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, SERIES 1986A
RETIREMENT SCHEDULE
I * Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
r
1 117
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 79 in the amount of
$2,930,000 have
been retired.
Bonds numbered 80 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
to market 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 1990
Variable
80 -84
S 250,000 S
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 0
Jun 1991
Variable
95 -99
250,000
105,000
355,000 1 1 Oi
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
Sep 1994
Variable
Variable
155-159
160 -164
250,000
250,000
45,000
40,000
295,000
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
36,000,000 $1,500,000
$7,500,000
y5
o✓ , ' "
OSO,
i
I * Interest is at a variable rate; calculation made at 8% of the unpaid principal balance.
r
1 117
EXHIBIT I -3
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL REFUNDING BONDS. SERIES 1989
RETIREMENT SCHEDULE
This issue, dated May 1, 1989, consists of 2,000 bonds in the amount of $5,000 each, totaling $10,000,000. Bonds
numbered 1 through 138 have been retired. Bonds numbered 139 through 2,000 bear interest at the rate indicated below.
Bonds are retired serially in numerical order over a period of 10 years. Retirement date is August 1 of each year
beginning in 1989. Bonds maturing in 1997 and after are callable beginning in 1997 and this call privilege may be
exercised.
This issue was marketed by John Nuveen & Co. of Chicago. Legal opinion was rendered by bond counsel, Wohlforth,
Argetsinger, Johnson & Brecht of Anchorage.
Bonds were issued to refund the 1980 issue. Bonds are payable at the Security Pacific National Bank (formerly Rainier)
Seattle, Washington.
* Maturities on and after August 1, 1997 are callable at par on this and any interest date thereafter.
118
Bond
Principal
Interest
Interest
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
February 1
August 1
Total
1990
8.00
139 -253
S 575,000 ✓
S -
S 322,993 ✓
S 897,993
1991
7.60
254- 379
630,000
299,993 ✓
299,992
1,229,985
1992
6.60
380- 515
680,000
276,052
276.05
1,232,105
1993
6.65
515- 660
725,000
253,613
253,612
1,232,225
1994
6.65
661- 816
780,000
229,506
229,507
1,239,013
1995
6.70
817- 983
835,000
203,571
203,571
1,242,142
1996
6.80
984 -1161
890,000
175,599
175,599
1,241,198
1997*
6.85
1162 -1350
945,000
145,339
145,338
1,235,677
1998
6.90
1351 -1553
1,015,000
112,972
112,973
1,240,945
1999
6.96
1554 -1769
1,080,000
77,955
77,955
1,235,910
2000
7.00
1770 -2000
1.155,000
40.425
40,425
1,235.850
$9,310,000
51,815,025
52,138.018
513,263,043
q � �3s,000
* Maturities on and after August 1, 1997 are callable at par on this and any interest date thereafter.
118
MEMO ONLY - Refunded by May 1, 1989 issue.
* This issue will be called in its entirety on August 1, 1990,
1 119
EXHIBIT I-4
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 112,100,000. Bonds
numbered 1
through 621 have
been retired. Bonds numbered 622
through 2420 bear interest at the rate indicated below.
Bonds are
retired serially
in numerical 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 Security Pacific
Bank (formerly
Rainier Bank and Trust), Seattle, Washington.
'
Bond
Principal
Interest
Interest
Interest
Numbers
Due
Due
Due
Year
Rate
Inclusive
August 1
February 1
August 1
Total
1990*
7.30
622 -729
$ 540,000
S -
f 351,851
f 891,851
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
1.257,000
58,995,000
$2,058,332
$2,4� 1�3
$13,463,515
MEMO ONLY - Refunded by May 1, 1989 issue.
* This issue will be called in its entirety on August 1, 1990,
1 119
EXHIBIT I -5
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
ASBESTOS REMOVAL LOAN PAYABLE
RETIREMENT SCHEDULE
This debt was incurred June 24, 1985 as part of a package from the U.S. Environmental Protection Agency. This package
was for $750,000. One half ($375,000) was a grant (EPA Grant J 851002 010) and the other half was a loan. The loan
is repayable semi-annually in the amounts indicated below.
Semi - annual payments are made directly to the U.S. Environmental Protection Agency; Financial Management Center; P.O.
Box 371293M; Pittsburgh, PA 15251
This is not general obligation debt. Legal opinion was rendered by bond counsel, Wohlforth, Argetsinger, Johnson &
Brecht of Anchorage.
* No interest is payable until a payment due is in default; then interest, penalties and fees become due. See grant
folder for full details of default conditions.
120
Principal
Principal
Interest
Due
Due Interest
Year
Rate *
June 30
December 31 Due*
Total
1990
7.00
S -
3 10,416.67 3 -
3 10,416.67
1991
7.00
10,416.67 ✓
10,416.67 -
20,833.34
1992
7.00
10,416.67
10,416.67 -
20,833.34
1993
7.00
10,416.67
10,416.67 -
20,833.34
1994
7.00
10,416.67
10,416.67 -
20,833.34
1995
7.00
10,416.67
10,416.67 -
20,833.34
1996
7.00
10,416.67
10,416.67 -
20,833.34
1997*
7.00
10,416.67
10,416.67 -
20,833.34
1998
7.00
10,416.67
10,416.67 -
20,833.34
1999
7.00
10,416.67
10,416.67 -
20,833.34
2000
7.00
10,416.67
10,416.67 -
20,833.34
2001
7.00
10,416.67
10,416.67 -
20,833.34
2002
7.00
10,416.67
10,416.67 -
20,833.34
2003
7.00
10,416.67
10,416.67 -
20,833.34
2004
7.00
10,416.67
10,415.89 -
20,832.56
$145.833.38
5156,249.27 S -
$302.082.65
* No interest is payable until a payment due is in default; then interest, penalties and fees become due. See grant
folder for full details of default conditions.
120
STATISTICAL TABLES
Statistical tables reflect social and economic data, financial trends and the
fiscal capacity of the governmental unit.
F�
TABLE 1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL GOVERNMENTAL EXPENDITURES
AND OTHER USES BY FUNCTION (a)
LAST TEN FISCAL YEARS
(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
Local
Service
Other
Fiscal
General
Roads and
Health and
Debt Operating
Year
Government
Trails (c)
Sanitation (b)
Education (b)
Service Transfers
Total
1981
$1,525,087
S -
5342,696
$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
4,913,578
1986
1,877,136
-
563,516
1,662,858
- 447,669
4,551,179
1987
2,089,508
-
579,930
1,901,130
- 553,373
5,123,941
1988
1,964,710
-
545,954
2,177,405
- 890,000
5,578,069
1989
2,208,351
-
517,112
2,128,997
- 768,100
5,622,560
1990
2,478,619
-
367,921
2,334,650
- 553,312
5,734,502
(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
TABLE 2
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL REVENUES BY SOURCE (a)
LAST TEN FISCAL YEARS
(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
1981
$2,281,111
S 24,083
51,706,477
5112,120
S 754, %l
$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
1990
2,640,044
120,145
1,316,238
-
540,851
68,790
4,686,068
(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 $984,930 due from City of Kodiak. I
(b) 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.
124
Percent of
Percent of
Percent
Delinquent
Total Tax
Outstanding
Delinquent
Fiscal
Total
Current Tax
of Levy
Tax
Total Tax
Collections
Delinquent
Taxes to
Year
Tax Levy
Collections
Collected
Collections
Collections
to Tax Levy
Taxes
Tax Levy
1981
$2,257,590
$1,496,037
66.3
S 41,038
$1,537,075
68.1
$1,051,093(b)
46.6
1982
2,118,431
2,095,431
98.9
978,969(a)
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
13,502
2,000,416
98.8
43,185
2.1
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
1990
2,034,500
2,017,190
99.1
12,351
2,029,541
99.7
28,640
1.4
(a) Includes $984,930 due from City of Kodiak. I
(b) 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.
124
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
TI
Assessed
Value
1357,662,900
337,072,196
284,114,955
395,620,404
394,608,581
406,612,778
404,859,425
428,764,585
436,800,264
479,942,347
(a) Exempted boat full and true value for $5 and 115 fees.
(b) Reflects exemptions of boats and inventories.
(c) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
TABLE 4
Ratio
of Total
Assessed
)TAL to Total
Estimated
Estimated Actual
Actual Value Value
1357,662,900 100.00
337,072,196 100.00
361,395,705 78.60
490,455,565 80.70
492,755,043 80.10
480,132,023 84.70
457,733,337 88.40
536,598,321 79.90
562,827,029 77.60
634,425,802 75.65
125
REAL PROPERTY
PERSONAL
PROPERTY
Fiscal
Assessed
Estimated
Assessed
Estimated
Year
Value
Actual Value
Value
Actual Value
1981
$225,394,400
5225,394,400
5132,268,500
5132,268,500
1982
187,598,046
187,598,046
149,474,150
149,474,150
1983
216,508,832
216,508,832
67,606,123 (a)
144,886,873
1984
307,989,403
307,989,403
87,631,001 (b)
182,466,162
1985
325,278,582
325,278,582
69,329,999
167,476,461
1986
354,524,678
354,524,678
52,088,100 (c)
125,607,345
1987
367,360,196
367,360,196
37,499,229
90,373,141
1988
379,969,521
379,969,521
48,795,064
156,628,800
1989
378,072,396
393,259,044
58,727,868
169,567,985
1990
406,433,607
429,674,254
73,508,740
204,751,548
TI
Assessed
Value
1357,662,900
337,072,196
284,114,955
395,620,404
394,608,581
406,612,778
404,859,425
428,764,585
436,800,264
479,942,347
(a) Exempted boat full and true value for $5 and 115 fees.
(b) Reflects exemptions of boats and inventories.
(c) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
TABLE 4
Ratio
of Total
Assessed
)TAL to Total
Estimated
Estimated Actual
Actual Value Value
1357,662,900 100.00
337,072,196 100.00
361,395,705 78.60
490,455,565 80.70
492,755,043 80.10
480,132,023 84.70
457,733,337 88.40
536,598,321 79.90
562,827,029 77.60
634,425,802 75.65
125
TABLE 5
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
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:
Fiscal
Assessed
Amount of
Millage
Year
Road Service
Districts
Equivalent
Fire Districts
KIB
City
Debt
$357,662,900
$1,066,927
2.98
1982
337,072,196
676,922
2.01
Fiscal
General
of
Service
1984
Monashka
Service
Bayview
Women's
Service
Women's
Year
Fund
Kodiak
Funds
Total
Bay
District
1 Road
Bay
District 1
Bay
2,343,992
5.47
1989
423,038,700
2,444,882
5.78
1990
452,016,912
2,469,558
5.46
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
1990
4.50
2.00
0.00
6.50
1.25
0.70
1.00
1.50
1.25
1.25
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:
Fiscal
Assessed
Amount of
Millage
Year
Value
Contribution
Equivalent
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
2,444,882
5.78
1990
452,016,912
2,469,558
5.46
126
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
TEN LARGEST TAXPAYERS
YEAR ENDED JUNE 30, 1990
TABLE 6
* Taxes actually collected were less, in some cases, due to various taws such as personal property
within city limits being exempt.
127
Percentage
Percentage
of total
1990
(Net)*
of total
Assessed
Assessed
Taxes
Taxes
Taxpayer
Valuation
Valuation
Levied
Levied
International Seafoods of Alaska
2.12%
!10,153,785
S 50,203
2.47%
Telephone Utilities of the Northland
1.74
8,344,557
16,887
.83
Alaska Pacific Seafoods
1.64
7,866,236
21,387
1.05
All Alaskan Seafoods, Inc.
1.50
7,203,635
18,601
.91
King Crab, Inc.
1.42
6,835,891
30,203
1.48
Western Alaska Fisheries
1.41
6,765,289
28,265
1.39
Sea -Land Services, Inc.
1.41
6,759,513
37,436
1.84
Waldos /O'Kraft & Son, Inc. (Retailers)
1.16
5,562,686
30,552
1.50
Hill Bay Plaza Association
.96
4,628,760
30,087
1.48
Brechan Enterprises, Inc. (Construction)
.90
4.326.077
22.674
1.11
14.26
568.446,429
$286,294
1
Totals
* Taxes actually collected were less, in some cases, due to various taws 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
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
Capital
1981
10,124
$357,662,900
$ 15,610,000
$1,180,818
$14,429,182
4.0
1,425
1982 (a)
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
425,438
21,849,562
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
14,375
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
1990 (b)
15,558
452,016,912
15,310,000
6,683,745
8,826,255
1.9
567
(a) 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. ,
(b) 1990 population is per U.S. Bureau of Census (preliminary); others are estimates from the Borough Planning
Department based on the "Housing Unit Method."
128
KODIAK ISLAND 80ROUGH
KODIAK. ALASKA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
YEAR ENDED JUNE 30, 1990
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
f 8,826,255
100%
S 8,826,255
City of Kodiak:
General obligation bonds
1,145,000
64
732,800
Revenue bonds
5 3� 10_
64
3.398.400
Total
!15,281,255
$12.957 = 455
(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
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF LEGAL DEBT MARGIN
JUNE 30. 1990
�l
Assessed value
Plus exempt property
Total
S 436,800,264
1.303.391,324
$1.740.19
u
�J
t
1
The State of Alaska does not mandate a debt limit to its municipalities and political subdivisions. Debt capacity is I
ultimately determined by the marketplace.
130
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)
1981
S 215,000
S 218,521
S 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
5,622,560
118.1
1990
2,260,833
978,583
3,239,416
5,803,292
55.8
(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)
1981
10,124
2,086
1982
12,714
2,106
1983
13,079
2,189
1984
13,389
2,180
1985
13,748
2,295
1986
13,952
2,285
1987
14,127
2,329
1988
14,375
2,531
1989
15,575
2,304
1990
15,558
2,328
UnemDlovment Rate (c)
10.0
12.1
9.7
6.9
9.6
7.7
7.4
6.2
3.2
5.6
(a) 1990 per U.S. Bureau of Census (preliminary); other years per Borough Planning Department.
(b) Kodiak Island Borough School District.
(c) Department of Labor, Anchorage.
132
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS
YEAR ENDED JUNE 30, 1990
TABLE 12
(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 51,000,000 and 550,000, respectively.
(2) Also covered by elected officials errors and omission policy of $1,000,000.
133
Amount of
Name of Official
Title
Annual Salary
Surety Bond (1)
Jerome M. Selby
Mayor
$65,000
(2)
See page 4
Assembly members
2,400
(2)
Contracted
Attorney
-
Bryce S. Weeks
Finance Director /Treasurer
62,333
$1,000,000
Earl Smith
Fire Chief, Service Area One
55,209
-
Perry L. Page
Data Processing Manager
52,597
-
Gaye Vaughan
Borough Clerk
52,800
-
Linda Freed
Director of Planning and
Community Development
63,866
_
Deborah Anderson
Cashier
24,999
50,000
Patrick Carlson
Assessor /Appraiser
51,339
-
Pam Delys -BagH en
Director of Mental Health
75,728
_
Ray Camardello
Facilities Coordinator
50,111
-
Karleton G. Short
Accountant
52,597
-
(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 51,000,000 and 550,000, respectively.
(2) Also covered by elected officials errors and omission policy of $1,000,000.
133
1
' KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY VALUE. CONSTRUCTION AND BANK DEPOSITS
' LAST TEN FISCAL YEARS
YEAR ENDED JUNE 30,
Source:
1. From Local bankers.
* Estimated actual value.
TABLE 13
PROPERTY VALUE *
Commercial
Residential
Nontaxable
S 77,980,241
$109,408,625
S 51,972,410
86,107,893
129,872,475
CONSTRUCTION
107,487,339
199,913,042
245,623,546
Commercial
Residential
739,960,807
116,411,447
236,302,401
1,053,965,717
115,574,577
258,311,716
Deposits in
Fiscal
No. of
1,134,524,305
No. of
255,417,891
Local
Year
Units
Value
Units
Value
Banks (1)
1981
40
S 331,941
55 S
2,163,650
S 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
70,402,810
1988
42
549,382
91
4,314,003
72,068,409
1989
22
1,174,346
131
6,421,773
93,830,000
1990
t
18
1,709,715
104
8,109,662
90,221,433
Source:
1. From Local bankers.
* Estimated actual value.
TABLE 13
PROPERTY VALUE *
Commercial
Residential
Nontaxable
S 77,980,241
$109,408,625
S 51,972,410
86,107,893
129,872,475
208,695,345
107,487,339
199,913,042
245,623,546
104,233,851
220,001,411
739,960,807
116,411,447
236,302,401
1,053,965,717
115,574,577
258,311,716
1,127,834,040
114,409,875
252,950,321
1,134,524,305
123,053,031
255,417,891
1,159,131,464
128,202,254
266,409,021
1,177,364,559
115,477,806
314,539,889
1,993,871,408
135
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
MISCELLANEOUS STATISTICAL DATA
YEARS ENDED JUNE 30, 1981 THROUGH JUNE 30, 1990
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 (c)
Number of teachers
Number of students
Number of municipal employees
Elections:
Number of registered voters
Number voting in last election
Percent of registered voters
1981 1982 1983
1984
4,900 4,900 4,900
4,900
16.48 16.48 16.48
16.48
- -
3.7
- - 309
309
- - 170
170
95 124 213 137
2,495.5 4,034.7 18,339.9 8,416.1
2
1
2,230
2,440
3,277
4,099
'
-
4
5
1
1
1
1
11
10
10
10
4
4
4
4
6
6
6
7
1
1
1
1
187
178
179
174
150
150
150
156
2,086
2,106
2,189
2,180
37
39
46
49
5,198
5,883
5,115
5,200
1,613
1,619
1,720
2,079
31.0
27.5
33.6
44.0
(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 an additional 12,830 square miles.
Total Borough is now 22,395 square miles with a land mass of 7,130 square miles (see map on page ix).
(c) All non - teaching employees.
136
TABLE 14
1985
1986
1987
1988
1989
1990
4,900
4,900
4,900
4,900
7,130 (b)
7,130
17.29
19.53
20.3
21.5
21.5
21.5
4.2
9.63
15.49
16
16
16
309
410
659
707
748
748
170
327
619
666
727
727
'
161
172
169
133
153
153
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
3,414
220 (a)
222
223
223
223
5
14
15
15
15
15
1
1
1
1
1
1
10
10
10
10
11
11
4
4
4
4
4
4
7
7
7
7
7
7
1
1
1
1
1
1
158
159
152
167
172
165
157
154
148
169
167
167
'
2,295
2,285
2,329
2,351
2,304
2,328
46
49
53
57
66
60
'
5,603
6,463
6,559
5,427
6,150
6,352
3,075
2,356
2,094
2,507
1,459
2,327
46.6
36.4
31.9
46.2
23.7
37.0
137